Earnings Recap - March 25, 2026 (EOD)

 ## Today's Earnings Scorecard The earnings season continued with a mix of beats and misses across various sectors, influencing individual stock performances notably. Semiconductor and technology companies showed strength, buoyed by AI-driven demand, while some consumer and industrial names faced margin pressures and cautious outlooks. Notably, Arm Holdings surged on strong AI chip revenue forecasts, while several companies in the consumer discretionary and healthcare sectors experienced mixed reactions despite solid revenue growth. ## Earnings Winners **$ARM** - +17.35% - Arm forecasted a steep sales ramp for its new AI server chip, signaling robust demand and positioning itself as a key player in the AI semiconductor market. This bullish guidance drove a significant rally in shares. **$AIR** - +9.93% - AAR Corp reported strong Q3 earnings and raised its sales forecast, reflecting solid operational momentum and favorable market conditions in aerospace and defense. **$HPE** - +7.87% - Hewlett Packard Enterprise posted upbeat results, benefiting from data center and AI-related growth, which lifted investor sentiment. **$BZUN** - +13.62% - Baozun Inc. beat Q4 earnings estimates with strong revenue growth, although shares edged down slightly, possibly due to cautious commentary on future outlook. **$CHWY** - +13.73% - Chewy reported Q4 earnings beat by $0.18 with revenue in line, and despite a slight earnings miss, the stock rallied on optimism about expanding margin profiles and pet ownership trends. **$PAYS** - +35.81% - Paysign surged after reporting strong Q4 growth and signing a 15-year data center lease, securing long-term revenue visibility. **$NDLS** - +11.45% - Noodles & Company showed strong Q4 sales momentum, driving a double-digit stock gain. **$DELL** - +4.01% - Dell Technologies delivered solid results with AI-enabled product refreshes, boosting investor confidence. **$MRK** - +2.58% - Merck’s stock rose on news of its $6.7 billion acquisition of Terns Pharmaceuticals, enhancing its oncology pipeline. **$MTSI** - +3.27% - MACOM Technology Solutions Holdings gained on strong data center and defense end market growth. **$WVE** - +4.73% - Wave Life Sciences saw a notable boost from positive trial data and pipeline progress. ## Earnings Losers **$MLKN** - -18.00% - MillerKnoll missed earnings by $0.02 and revenue fell short of estimates, weighed down by margin pressures and strategic growth challenges. **$REED** - -17.69% - Reed’s Inc. reported mixed results, with the stock dipping after the earnings release due to concerns over profitability and growth sustainability. **$CTSO** - -10.88% - Cytosorbents Corporation’s Q4 earnings call revealed challenges, leading to a sharp decline in shares. **$VIOT** - -5.88% - Viomi Technology disappointed with Q4 results, triggering a notable selloff. **$ABSI** - -4.32% - Absci faced a downgrade to 'Hold' as key drug ABS-101 was deprioritized, impacting investor sentiment. **$ONDS** - -3.93% - Ondas Inc. reported a massive 629% revenue surge but the stock declined, likely reflecting concerns about earnings quality or sustainability. **$MDAI** - -7.84% - Spectral AI’s earnings disappointed, dragging shares lower despite revenue growth. **$MXCT** - -7.97% - MaxCyte missed expectations, contributing to a steep stock decline. **$WGO** - -6.87% - Winnebago Industries’ shares fell amid margin pressures despite a motorhome surge. **$KPTI** - -5.70% - Karyopharm Therapeutics reported top-line trial results that failed to impress investors. ## After-Hours Earnings **$NAVN** - Results: Reported Q4 FY2026 with a profitability milestone and AI-driven margin gains - AH reaction: +29.85% **$BRZE** - Results: Strong Q4 2026 earnings - AH reaction: +20.10% **$SATL** - Results: Q4 2025 revenue surged 629% - AH reaction: +15.24% **$LODE** - Results: Q4 2025 earnings beat - AH reaction: +15.47% **$SRPT** - Results: Preliminary Phase I/II data discussed - AH reaction: +34.13% **$PGEN** - Results: Q4 2025 earnings beat - AH reaction: +13.10% **$CIFR** - Results: Stock surged on insider activity and operational updates - AH reaction: +6.65% **$CGNT** - Results: Q4 2026 earnings call showed strong growth - AH reaction: +7.23% (Note: Some companies reporting after hours have not yet released full results.) ## Earnings Themes Today - **Revenue Trends:** Many companies reported strong top-line growth, particularly in technology, AI-related semiconductors, and data center sectors. Baozun, Chewy, and Noodles & Company demonstrated robust sales momentum, while some industrial and consumer discretionary firms faced headwinds. - **Margin Commentary:** Margin pressures persisted in certain sectors such as retail and manufacturing, with MillerKnoll and Winnebago highlighting challenges. Conversely, AI-driven companies like Arm and Paysign emphasized margin expansion potential. - **Guidance Tone:** Guidance was mixed; Arm and AAR raised outlooks reflecting confidence in AI and aerospace demand, while KB Home and some consumer names trimmed forecasts due to geopolitical and macroeconomic uncertainties. Merck’s acquisition signals strategic pipeline expansion amid patent cliffs. ## Tomorrow's Earnings Watch - **$KBH** - Before Market Open - Watch for updates on housing market impact from Middle East conflict and revised guidance. - **$CTAS** - Before Market Open - Key metric to watch is margin recovery amid valuation concerns. - **$PAYX** - After Market Close - Focus on integration progress of Paycor and revenue growth sustainability. - **$FDS** - Before Market Open - Margin and revenue outlook will be critical given recent price target cuts. - **$MRDN** - Before Market Open - Investors will look for turnaround progress and margin improvement. ## Key Takeaway Today's earnings underscore the bifurcation in the market driven by AI and geopolitical uncertainty. Semiconductor and AI-related companies continue to outperform with strong revenue growth and optimistic guidance, reflecting the ongoing tech transformation. However, consumer and industrial sectors face margin pressures and cautious outlooks amid inflation and geopolitical risks, particularly the Middle East tensions. Investors are selectively rewarding innovation and growth while remaining wary of cyclical headwinds and margin erosion in traditional sectors.