Earnings Recap - March 21, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$PL** - Planet Labs PBC delivered a strong earnings report, driving its stock up 27.15% after hours to $34.28 from $26.96. The company highlighted a $900 million backlog, which finally attracted Wall Street’s attention and boosted investor confidence. This backlog signals robust demand and revenue visibility, supporting a bullish outlook. **$FDX** - FedEx showed positive momentum with its stock rising 1.16% to $360.25. While specific earnings details are not provided, the market reaction suggests the company likely reported solid results or provided encouraging guidance amid ongoing supply chain and logistics challenges. **$GS** - Goldman Sachs shares gained 1.56% to $822.09, indicating a favorable earnings report or outlook. The firm’s ability to navigate private credit redemptions and liquidity concerns may have reassured investors. ### Misses & Negative Reactions **$MU** - Micron Technology’s stock fell sharply by 4.22% to $425.50 after earnings, reflecting investor disappointment. The decline suggests the company may have faced revenue or margin pressures, or issued cautious guidance amid a challenging semiconductor market. **$INTC** - Intel dropped 4.18% to $44.25, likely due to weaker-than-expected earnings or concerns about competitive pressures and execution risks in its business segments. **$ORCL** - Oracle’s shares declined 3.36% to $150.30 despite ongoing AI-related optimism in the sector. This drop may reflect skepticism about near-term growth or margin expansion, or a cautious tone in management commentary. **$SNOW** - Snowflake’s stock slipped 3.65% to $169.00, indicating possible softness in cloud spending or execution challenges in its data platform business. **$DLR** - Digital Realty Trust fell 3.64% to $173.30, suggesting investor concerns about near-term fundamentals or macro headwinds impacting the data center REIT sector. ## Reporting Today Companies expected to report earnings today: - **$AAPL** - Before market open - Watch for revenue growth and margin trends amid ongoing AI and hardware demand. - **$AMZN** - Before market open - Key metrics include cloud growth, e-commerce trends, and profitability outlook. - **$META** - Before market open - Focus on advertising revenue, AI investments, and user engagement metrics. - **$MSFT** - After market close - Investors will scrutinize cloud revenue, AI integration progress, and margin guidance. - **$JPM** - Before market open - Key areas include net interest margin, loan growth, and trading revenue. - **$INTU** - Before market open - Look for updates on TurboTax advertising and subscription growth. - **$UPS** - Before market open - Watch for volume trends and margin pressures in logistics. - **$SBUX** - Before market open - Focus on same-store sales and margin outlook amid consumer spending concerns. - **$PLTR** - After market close - Investors will look for updates on AI contracts and government business. - **$QCOM** - After market close - Key metrics include chip sales, 5G adoption, and licensing revenue. ## Earnings Themes - Revenue trends show a mixed picture: strong backlog and demand in niche tech (Planet Labs), but softness in semiconductors (Micron, Intel) and cloud/data platforms (Snowflake). - Margin pressures persist in logistics and hardware sectors, with companies like Digital Realty and Oracle facing headwinds. - Guidance sentiment is cautious overall, with some companies (Micron, Intel) likely lowering expectations amid macroeconomic uncertainty, while others (Planet Labs, Goldman Sachs) maintain or raise guidance based on backlog and market positioning. - AI remains a central theme, with companies like Microsoft, Meta, and Qualcomm expected to provide updates on AI-driven growth initiatives and investments. ## Earnings Trade Ideas 1. **Planet Labs ($PL)** - The strong backlog and 27% after-hours surge suggest momentum in the satellite imaging and geospatial analytics space. Consider a long position ahead of potential further upgrades and institutional interest. 2. **Micron Technology ($MU)** - The sharp post-earnings selloff may present a buying opportunity for contrarian investors if semiconductor demand stabilizes. Watch for management commentary on inventory and end-market demand for clues on recovery timing. Overall, today’s earnings focus heavily on tech giants and financials, with AI and macro uncertainty shaping investor expectations. Traders should monitor guidance closely for signs of resilience or risk in these key sectors.