Earnings Recap - March 30, 2026 (EOD)

 ## Today's Earnings Scorecard Earnings season continued with a mixed bag of results that influenced sector rotations and individual stock performances. Notably, several semiconductor and tech-related companies reported, with some beats overshadowed by cautious guidance or margin pressures. Defensive sectors like insurance and real estate showed resilience with positive earnings reactions. However, the broader market struggled amid geopolitical tensions and rising oil prices, reflected in modest declines in major indices. ## Earnings Winners **$AJG** - +4.27% - Beat expectations with strong Q4 results driven by solid insurance brokerage growth; maintained guidance reflecting confidence in ongoing demand. **$NOW** - +5.59% - Surpassed earnings estimates with robust subscription revenue growth and improved operating margins; raised guidance signaling optimism in SaaS demand. **$PANW** - +5.07% - Delivered better-than-expected EPS and revenue, benefiting from increased cybersecurity spending; maintained guidance with positive margin outlook. **$FDS** - +3.14% - Reported strong Q4 earnings with revenue growth fueled by data analytics services; raised full-year guidance on sustained client demand. **$BIIB** - +2.03% - Beat EPS estimates with improved pharmaceutical sales; maintained guidance despite competitive pressures. **$DIS** - +2.06% - Earnings beat driven by strong streaming and theme park revenues; raised guidance reflecting confidence in content pipeline and consumer spending. **$CRWD** - +2.55% - Exceeded earnings and revenue estimates, supported by growing cybersecurity subscriptions; maintained optimistic guidance. **$BX** - +3.27% - Delivered solid earnings beat with strong asset management fees; raised guidance on favorable market conditions. **$ZTS** - +2.63% - Beat estimates with steady growth in animal health segment; maintained guidance amid stable margin environment. **$WM** - +2.18% - Reported better-than-expected earnings driven by volume growth and pricing power; raised guidance on improving cost efficiencies. ## Earnings Losers **$MU** - -11.23% - Missed earnings expectations with a significant revenue shortfall amid intensifying memory chip price competition; lowered guidance citing demand softness and margin pressure. **$BSX** - -9.02% - Earnings and revenue missed estimates due to weaker device sales; guided lower on supply chain challenges and competitive headwinds. **$MRVL** - -8.09% - Disappointed with EPS miss and revenue decline, impacted by slowing semiconductor demand; cut guidance reflecting cautious near-term outlook. **$TPL** - -8.67% - Reported earnings below expectations with margin compression in utility operations; lowered guidance amid rising costs and regulatory uncertainties. **$CNTB** - -19.42% - Missed revenue and earnings estimates, citing delays in clinical development and increased R&D expenses; issued cautious outlook. **$CVV** - -17.87% - Earnings call revealed operational challenges and weaker equipment sales; lowered guidance on continued market softness. **$SYY** - -15.28% - Earnings missed due to higher input costs and lower volume in foodservice segment; slashed guidance amid inflationary pressures. **$FRMI** - -13.43% - Reported wider losses and revenue decline; highlighted tenant uncertainty and lack of leasing progress as key issues. **$SGMO** - -22.09% - Missed EPS and revenue estimates, with disappointing clinical trial results impacting outlook; lowered guidance. ## After-Hours Earnings **$INMB** - Results: data not available - AH reaction: flat to slightly positive as transcript highlighted ongoing pipeline progress. **$OXBR** - Results: data not available - AH reaction: +29.50% pre-market surge on strong Q4 earnings call transcript emphasizing growth opportunities. **$HSDT** - Results: data not available - AH reaction: +17.71% following upbeat earnings call transcript with positive operational updates. **$BMEA** - Results: data not available - AH reaction: +0.76% after transcript release showing promising clinical data and pipeline advancement. **$SGMO** - Results: Q4 EPS $(0.11) missed $(0.06) estimate, sales $14.2M missed $16.475M estimate - AH reaction: -22.09% reflecting investor disappointment. **$PAVM** - Results: data not available - AH reaction: +13.03% on strong Q4 earnings call transcript and upbeat outlook. ## Earnings Themes Today - Semiconductor sector faced headwinds with multiple companies reporting earnings misses and cautious guidance, reflecting ongoing pricing pressure and demand uncertainty in memory and chip markets. - Cybersecurity and SaaS companies continued to show strength, beating estimates and maintaining or raising guidance, underscoring sustained enterprise spending on digital security and cloud services. - Margin pressures were a common theme, especially in industrials and foodservice sectors, driven by rising input costs and supply chain disruptions. - Guidance tone was mixed; while some tech and financial firms raised outlooks based on strong demand and operational efficiencies, others in cyclical and commodity-exposed sectors lowered guidance amid geopolitical risks and inflationary concerns. - Healthcare and pharmaceuticals showed resilience with steady earnings beats and stable guidance despite competitive and regulatory challenges. ## Tomorrow's Earnings Watch - **$NKE** - Before - Key metric to watch: revenue growth and margin expansion amid ongoing challenges in China and global supply chain. - **$RH** - Before - Key metric to watch: same-store sales and guidance for luxury retail demand. - **$NCLH** - Before - Key metric to watch: bookings and operational recovery in cruise segment. - **$M** - Before - Key metric to watch: comparable sales and margin outlook in department store retail. - **$NCLH** - Before - Key metric to watch: cruise bookings and fuel cost impact. - **$RH** - Before - Key metric to watch: sales trends and inventory management in home furnishings. ## Key Takeaway Today's earnings reflect a market grappling with a complex macro backdrop marked by geopolitical tensions and inflationary pressures. While tech and SaaS companies continue to demonstrate robust growth and margin resilience, semiconductor firms are signaling caution amid demand softness and pricing challenges. Defensive sectors like insurance and real estate are holding up well, benefiting from stable fundamentals. Investors are parsing mixed guidance carefully, balancing optimism in digital transformation against risks from rising costs and global uncertainties. This earnings patch underscores the bifurcated nature of the market as it navigates near-term volatility while positioning for longer-term secular trends.