Earnings Recap - April 02, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$BPRN** - Princeton Bancorp - Insider Stephen Shueh purchased shares worth $297k, signaling confidence. The stock rose 2.52% to $34.62, reflecting positive investor sentiment around insider buying. **$CALM** - Cal-Maine Foods - Reported Q3 2026 earnings with revenue beats and expanding margins, driving a 4.94% stock increase to $83.06. The specialty and prepared foods segment showed strength, supporting the upbeat reaction. **$FC** - Franklin Covey - Q2 2026 earnings call transcript suggests solid results, pushing shares up 7.87% to $17.03. The company’s fundamentals appear to be improving, attracting buying interest. **$HES** - Hess Corporation - Shares jumped 8.65% to $160.31 following strong quarterly sales growth and positive outlook amid rising oil prices, benefiting from geopolitical tensions. **$LMRI** - Lumexa Imaging Holdings - Q4 2025 earnings call transcript highlighted positive developments, lifting shares 9.30% to $9.40, signaling investor optimism on growth prospects. **$PED** - PEDEVCO Corp. - Q4 2025 earnings call transcript shows strong results, with shares up 8.13% to $17.30, reflecting confidence in operational execution. **$PENG** - Penguin Solutions - Q2 2026 earnings call transcript indicated strong performance, with shares surging 11.14% to $19.56, suggesting robust demand and growth. **$SNAP** - Snap Inc. - Shares gained 2.17% to $4.70 after upbeat user metrics and advertising revenue growth, helping to offset recent market weakness. **$STX** - Seagate Technology - Shares rose 3.10% to $403.90 following cybersecurity certification news and solid earnings, supporting the stock amid tech sector volatility. **$WDC** - Western Digital - Shares climbed 4.26% to $282.00 on positive developments in storage demand and AI inference storage solutions, positioning the company well for growth. ### Misses & Negative Reactions **$FTLF** - FitLife Brands - Q4 2025 earnings call transcript revealed disappointing results, with shares plunging 14.79% to $12.10. Execution risks and subscription fatigue weighed on sentiment. **$APO** - Apollo Global Management - Shares declined 5.40% to $105.40 amid concerns over private credit fund redemptions and limits imposed by Blue Owl, reflecting investor caution. **$BX** - Blackstone - Stock fell 4.90% to $109.35 following news of redemption caps in private credit funds and a cautious outlook on credit markets. **$MKC** - McCormick & Company - Shares dropped 4.64% to $48.10 after the company updated guidance lower due to input cost pressures and weaker demand. **$NKE** - Nike - Shares tumbled 17.03% to $43.82, reflecting significant headwinds from China market challenges and lowered earnings guidance. **$SOFI** - SoFi Technologies - Shares declined 5.05% to $15.08 despite announcing a new 24/7 banking hub blending cash and crypto, indicating investor skepticism on near-term profitability. **$ARM** - Arm Holdings - Shares fell 2.66% to $147.25 amid broader chip sector weakness and concerns over AI chip demand sustainability. **$AMZN** - Amazon - Shares dropped 1.50% to $205.15 despite a strategic partnership with AWS on AI solutions, as market focus remains on cost controls and slowing growth. **$ANET** - Arista Networks - Shares declined 1.82% to $120.55 despite positive earnings, pressured by sector rotation away from growth tech. **$META** - Meta Platforms - Shares fell 1.80% to $561.85 amid ongoing concerns about advertising spend and AI investment costs. ## Reporting Today Companies expected to report earnings today: - **$ANGI** - AngioDynamics - After market - Recent transcript shows Q3 2026 beat on EPS but shares dipped; watch for updated guidance and margin commentary. - **$CALM** - Cal-Maine Foods - After market - Q3 2026 results already released with strong revenue and margin expansion; investors will focus on outlook. - **$FC** - Franklin Covey - After market - Q2 2026 earnings call transcript suggests solid fundamentals; key metrics include revenue growth and margin trends. - **$PED** - PEDEVCO Corp. - After market - Q4 2025 earnings call transcript shows strength; watch for production and cash flow updates. - **$PENG** - Penguin Solutions - After market - Q2 2026 earnings call transcript indicates strong growth; focus on revenue and margin sustainability. - **$FTLF** - FitLife Brands - After market - Q4 2025 earnings call transcript revealed weakness; investors will watch for turnaround plans. - **$LMRI** - Lumexa Imaging Holdings - After market - Q4 2025 earnings call transcript positive; key focus on revenue growth and R&D spend. - **$LAMB** - Lamb Weston - After market - Q3 2026 earnings call transcript available; watch for volume trends and cost pressures. - **$LW** - Lamb Weston - After market - Q3 2026 earnings call transcript; shares down 9.49%, watch for margin and volume commentary. - **$ANGI** - AngioDynamics - After market - Q3 2026 earnings beat on EPS but shares dipped; guidance will be key. Light earnings calendar today with focus on specialty food, energy, and industrials. ## Earnings Themes - Revenue trends show mixed results with specialty foods (Cal-Maine) and energy (Hess, PEDEVCO) outperforming, while consumer discretionary (Nike) and health/wellness (FitLife) face headwinds. - Margin pressures persist in consumer staples and discretionary sectors, driven by input cost inflation and supply chain challenges, though some companies like Cal-Maine demonstrate margin expansion through operational efficiencies. - Guidance sentiment is cautious overall, with several companies lowering outlooks due to geopolitical risks, inflationary pressures, and slowing demand in key markets such as China. However, energy and industrial firms remain optimistic on commodity price tailwinds and infrastructure investments. - Private credit and alternative asset managers (Apollo, Blackstone) face redemption pressures, leading to market concerns about liquidity and credit risk in this segment. ## Earnings Trade Ideas 1. **Cal-Maine Foods ($CALM)** - The company’s recent beat and margin expansion amid challenging input costs position it as a resilient specialty food play. Investors could consider exposure ahead of today’s full earnings release, betting on continued operational leverage and growth in prepared foods. 2. **PEDEVCO Corp. ($PED)** - Strong Q4 2025 results and positive production outlook amid rising energy prices make this a compelling energy sector trade. The stock’s 8%+ gain overnight suggests momentum that could continue if commodity prices remain elevated and geopolitical tensions persist. Investors should remain cautious on consumer discretionary names like **Nike ($NKE)** given the significant recent selloff and lowered guidance, which may reflect broader demand softness in China and global markets.