Morning Preview: May 13, 2026

Early Look

Wednesday, May 13, 2026

Another one day of modest weakness for the tech heavy Nasdaq, markets are soaring again as the risk mood improves after the Kospi market erases earlier losses of more than 3% and Nvidia CEO Huang joins President Trump’s China trip. At the same time, oil prices are slightly lower, and investors show no concerns ahead of the upcoming PPI inflation data. Yesterday morning, the S&P 500 fell as much as 1% and the Nasdaq 2% amid concerns in tech after a cautious warning about the tech rally from famed investor Michael Burry and the Kospi market declined sharply under some pressure following suggestion by presidential policy chief for a citizens’ dividend funded by taxes on AI profits weighed in AI names. Those concerns have been quickly dismissed, as well as the hotter CPI inflation data yesterday as the rally in tech marches on overnight (SOX almost recovers its 6% drop from low yesterday). While energy prices continue to soar, Treasury yields hit highest levels in 6 weeks, and CPI inflation data came in hotter yet again on Tuesday…markets still rallied back to end lower by a mere -0.16% off the all-time highs for the S&P 500 and the Nasdaq only down -0.7%, both off record highs. In Asian markets, The Nikkei Index jumped 529 points to 63,272, the Shanghai Index gained 28 points to 4,242, and the Hang Seng Index advanced 40 points to 26,388. In Europe, the German DAX is up 141 points to 24,096, while the FTSE 100 is up 4 points to 10,269. Markets prep for today’s PPI inflation data and then the two day trip by the President to China meeting leader Xi, with many notable members going on the trip.

• The Dow Jones Industrial Average edged higher 56.09 points, or 0.11%, to 49,760.56
• The Nasdaq Composite dropped -185.92 points, or 0.71%, to 26,088.20
• The Russell 2000 Index declined -27.82 points, or 0.97% to 2,842.82

• 8:30 AM ET                  Producer Price Index (PPI) headline M/M for April…est. +0.5% (prior +0.5%)
• 8:30 AM ET                  Producer Price Index (PPI) headline Y/Y for April…est. +4.9% (prior +4.0%)
• 8:30 AM ET                  Core PPI Ex: Food & Energy M/M for April…est. +0.3% (prior +0.1%)
• 8:30 AM ET                  Core PPI Ex: Food & Energy Y/Y for April…est. +4.3% (prior +3.8%)
• 10:30 AM ET                Weekly DOE Inventory Data
• 1:00 PM ET US Treasury to sell $22B in 30-year notes

• Earnings After the Close: ARX BEAT CCAP CPA CSCO CSWC CTSO DOCS DOX ENVX EQPT FOSL GO INVE JACK LESL LIDR LVLY MFC NOA PBH SI SPIR STAA STN STUB TK WATT WRAP

• Bank America 2026 Industrials, Transportation and Airlines Key Leaders, 5/12-5/14
• Bank America 2026 Healthcare Conference Agena, 5/12-5/14
• BMO Capital Real Assets Conference, 5/12-5/13, in New York
• Needham 21st Annual Needham Technology, Media, & Consumer Conference, 5/12-/5/14, in NY

• B&G Foods (BGS) Q1 adj EPS $0.08 vs est $0.05, adj EBITDA $57.6Mm vs est $58.1Mm on revs $408.9Mm vs est $398.3Mm; guides FY revs $1.735-1.775B vs est $1.703B, adj EBITDA $275-290Mm vs est $272.6Mm and Ad EPS $0.575-0.675 vs est $0.61.
• Birkenstock (BIRK) Q2 sales estimates due to uneven demand for its premium sandals and clogs as revs of 618.3M euros ($723.47 million) missed analysts ests of 620.07M euros ($725.54 million), and adj EPS of 0.50 euros, down 9% from 0.55 euros a year earlier; cites 6M euros ($7.02 million) impact to its EMEA segment.

• Astronics (ATRO) Q1 sales rose 12% y/y to $230.61M vs. est. $227.7M; Q1 Aerospace operating margin expanded to 16.5%; adj Aerospace operating margin1 was 17.4%; Q1 record quarterly bookings of $290.4M for book-to-bill of 1.26 and record backlog of $734.3M; raises 2026 revenue guidance to a range of $970 million to $1 billion.
• Eos Energy Enterprises (EOSE) shares rise as the co and Cerberus Capital Management announce Frontier power USA to deploy American-made long duration energy storage at scale; technology performance Insurance policy capacity up to $1.5B. Frontier power USA secures 15-year technology performance Insurance with ariel green
• Karman (KRMN) Q1 revs $151.21M vs. est. $150.19M; receives contingent demand commitments for key space and defense customers. Each customer has specified minimum order volumes by subassembly over a multi-year period, representing a total potential value of more than $1B over four to seven years; raises FY26 revenue view to $720M-$735M from $715M-$730M and ups Ebitda guidance  to $208.5M-$219.5M from $207M-$218M.
• NeXT power (NXT) Q4 adj EPS $1.05 vs est $0.92, adj EBITDA $202Mm on revs $881Mm vs est $827Mm, gr mgn 33.8%; guides FY revs $3.8-4.1B vs est $3.92B and adj EPS $4.21-4.59 vs est $4.72.
• Red Cat (RCAT) announces $200M common stock offering.
• Ring Energy (REI) 44.44M share Spot Secondary priced at $1.35.

• Victory Capital Holdings, Inc. (VCTR) reported Total Assets Under Management (AUM) of $329.1B, Other Assets of $3.5B, and Total Client Assets of $332.6B, as of April 30, 2026. For the month of April, Average Total AUM was $320.4B, average Other Assets was $3.4B, and average Total Client Assets was $323.8B.

• Mirum Pharmaceuticals (MIRM) announces $600M convertible senior notes offering
• OptimizeRx (OPRX) Q1 adj EPS $0.14 vs est $0.00, adj EBITDA $3.3Mm vs est ($193)K on revs $19.8Mm vs est $18.4Mm; guides FY revs $95-100Mm vs est $86.27Mm.
• Verrica Pharmaceuticals (VRCA) Q1 adj EPS loss ($-0.41) vs. est. loss (-$0.59); Q1 revs $5.02M vs. consensus $4.52M saying performance reflects accelerating growth in market demand for YCANTH as the new standard of care for the treatment of molluscum contagiosum.

• Akamai (AKAM) upgraded to Buy from Neutral at Bank America and raise tgt to $175 from $130 saying large cloud infrastructure wins, including a $1.8B, seven-year deal, signal real demand for distributed AI.
• Arteris Inc. (AIP) Q1 adj EPS $($0.03) vs est ($0.07) on revs $22.9Mm vs est $21Mm; guides Q2 revs $23-24Mm and adj operating loss $2.0-3.0Mm; sees FY revs $91-95Mm vs est $91Mm and adj operating loss $4.5-8.5Mm.
• Digimarc (DMRC) Q1 adj EPS ($0.07) vs est ($0.15) on revs $7.58Mm vs est $7.05Mm, adj gr mgn 83%.
• Residio Technologies (REZI) Q1 adj EPS $0.65 vs est $0.61, adj EBITDA $215Mm on revs $1.91B vs est $1.87B; guides Q2 revs $1.916-1.94B vs est $2.0B, adj EBITDA $216-230Mm and adj EPS $0.71-0.75 vs est $0.83; reaffirms FY outlook for revs $7.8-7.9B vs est $7.77B and adj EPS $3.00-3.20 vs est $2.90.
• QuickLogic (QUIK) wider-than-expected Q1 net loss of (-$0.08) vs. est. loss (-$0.05) and revs rose 17% y/y to $5.05M missing the $5.51M consensus; said began initial shipments of RadPro FPGA Dev Kit and secured new contracts; did not provide specific guidance for the current quarter or full year