Earnings Recap - April 10, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$AMZN** - Amazon reported strong earnings, driving its stock up 5.88% to $234.25. The rally reflects investor optimism about its growth prospects, particularly in cloud and AI-related segments. **$ETN** - Eaton surged 5.04% to $405.00 after beating earnings estimates, signaling robust demand in its industrial and electrical products businesses. **$CARR** - Carrier Global jumped 5.94% to $61.75, benefiting from better-than-expected results and positive outlook on HVAC demand. **$DCOY** - Decoy Therapeutics gained 6.04% to $5.97 following encouraging updates on its antiviral drug pipeline and corporate progress. **$SNAP** - Snap rallied 5.07% to $4.97 after announcing a multi-year deal with Qualcomm to power future augmented reality devices, boosting confidence in its innovation strategy. **$MU** - Micron Technology rose 3.81% to $422.23, supported by an analyst upgrade citing strong memory chip demand and cyclical recovery. **$META** - Meta Platforms climbed 3.79% to $635.61, buoyed by positive AI integration news and a partnership with Broadcom. **$TSM** - Taiwan Semiconductor Manufacturing Co. advanced 2.00% to $373.23 after reporting a 35% jump in March revenue, beating forecasts amid strong AI chip demand. **$ARM** - Arm Holdings increased 2.73% to $152.98, reflecting optimism about its chip design licensing in the AI era. **$AVGO** - Broadcom rose 2.24% to $358.50 after beating earnings and announcing a strategic partnership with Alphabet. **$ANET** - Arista Networks gained 1.61% to $147.40 on strong demand for its networking products. **$CHTR** - Charter Communications edged up 1.06% to $223.98 following solid subscriber growth. **$LOW** - Lowe’s advanced 1.65% to $247.67, supported by resilient home improvement demand. **$PNC** - PNC Financial added 1.12% to $223.23 ahead of its earnings report, reflecting steady banking sector sentiment. **$UPS** - UPS rose 1.69% to $102.15 on expectations of strong delivery volumes. **$GE** - General Electric increased 1.73% to $313.40 after positive industrial order trends. **$ROK** - Rockwell Automation gained 1.31% to $395.08, supported by automation demand. **$XEL** - Xcel Energy climbed 1.66% to $82.81 on steady utility sector fundamentals. **$C** - Citigroup rose 0.99% to $124.71 amid improving banking conditions. **$TGT** - Target edged up 0.55% to $123.80 on stable retail trends. **$DIS** - Disney increased 0.69% to $99.86 on positive content and theme park outlooks. **$MMM** - 3M gained 0.69% to $150.20, reflecting steady industrial performance. **$JPM** - JPMorgan rose 0.53% to $309.60 on solid banking earnings expectations. **$JNJ** - Johnson & Johnson was flat at $241.32 ahead of its earnings preview. **$PM** - Philip Morris inched up 0.19% to $161.25 despite FX headwinds. **$MS** - Morgan Stanley rose 1.23% to $178.19 on strong wealth management trends. **$TSLA** - Tesla added 1.03% to $346.80 despite missing EV delivery expectations recently. **$NVDA** - Nvidia increased 1.04% to $183.98 on sustained AI chip demand. **$SQ** - Block (Square) gained 0.91% to $87.17 on fintech optimism. **$COST** - Costco was flat at $1030.10, maintaining steady retail performance. **$AAPL** - Apple was nearly unchanged at $259.07 after a minor gain, with ongoing interest in its smartphone shipments and AI initiatives. ### Misses & Negative Reactions **$NOW** - ServiceNow plunged 9.67% to $88.05 after UBS downgraded the stock to Neutral and lowered its price target to $100, citing concerns over AI positioning and growth sustainability. **$SNOW** - Snowflake dropped 11.39% to $132.90 amid profit-taking and concerns about valuation despite solid cloud data platform growth. **$PLTR** - Palantir fell 8.15% to $129.29, pressured by high forward earnings multiples and AI-related uncertainties. **$ADSK** - Autodesk declined 7.61% to $222.33, weighed down by cautious guidance and competitive pressures. **$INTU** - Intuit dropped 7.13% to $361.75 amid fears of a SaaS slowdown and valuation concerns. **$SAIL** - SailPoint plunged 9.19% to $11.27 following insider selling and margin concerns. **$ILMN** - Illumina fell 3.31% to $123.76 on competitive threats in the genomics space. **$U** - Unity Software declined 2.53% to $21.68 amid AI risk concerns and choppy market conditions. **$AI** - C3.ai dropped 2.05% to $8.60 on profit-taking after recent gains. **$BKNG** - Booking Holdings declined 2.02% to $177.34 despite solid travel demand, possibly due to profit-taking. **$HRL** - Hormel Foods fell 2.26% to $21.15 on margin pressures. **$CVX** - Chevron declined 1.55% to $189.89 amid oil price volatility. **$DOW** - Dow Inc. dropped 3.41% to $37.94 on weaker chemical demand outlook. **$CLIR** - ClearSign Technologies edged down 1.08% to $6.40 despite ongoing technology development. **$DAKT** - Daktronics fell 1.48% to $20.00 after its analyst day, reflecting cautious investor sentiment. **$BX** - Blackstone declined 0.98% to $116.52 amid dividend cut concerns in direct lending. **$BLK** - BlackRock was flat, down 0.05% to $1001.04 despite a maintained Outperform rating but lowered price target. **$MDT** - Medtronic declined 0.83% to $87.91 on reimbursement concerns despite growth in renal denervation. **$PPG** - PPG Industries edged down 0.70% to $109.70 amid volatile raw material costs. **$RCL** - Royal Caribbean was slightly down 0.45% to $278.00 despite positive analyst views. **$WAT** - Waters Corporation declined 0.28% to $317.65 on mixed demand signals. **$WDFC** - WD-40 Company slipped 0.28% to $222.75 despite a recent earnings call highlighting growth challenges. **$XOM** - ExxonMobil declined 1.10% to $154.50 amid oil price fluctuations. ## Reporting Today Companies expected to report earnings today: - **$JNJ** - Before market open - Watch for Q1 earnings preview and guidance updates amid questions about the sustainability of recent rally. - **$PNC** - Before market open - Key metrics include net interest margin and loan growth in a shifting rate environment. - **$MDT** - Before market open - Focus on renal denervation growth and margin outlook. - **$UPS** - Before market open - Delivery volume trends and cost management will be key. - **$WDFC** - Before market open - Investors will look for updates on growth initiatives and margin pressures. - **$SAIL** - Before market open - Margin and revenue guidance critical after recent stock weakness. - **$DCOY** - Before market open - Pipeline progress and revenue growth updates expected. - **$ETN** - Before market open - Industrial demand and margin trends to watch. - **$CARR** - Before market open - HVAC market strength and margin outlook important. - **$SNAP** - Before market open - Innovation pipeline and AR device partnership details will be scrutinized. - **$MU** - Before market open - Memory chip demand and capital expenditure plans key. - **$META** - Before market open - AI integration and advertising revenue trends will be focal points. - **$TSM** - Before market open - AI chip demand and capacity expansion plans critical. - **$AMZN** - Before market open - Cloud growth and retail segment performance closely watched. - **$NOW** - Before market open - Market reaction to downgrade and AI strategy updates will be important. - **$SNOW** - Before market open - Cloud growth and margin outlook under scrutiny. - **$PLTR** - Before market open - AI-related business outlook and valuation concerns remain key. - **$ADSK** - Before market open - Guidance and competitive positioning important. - **$INTU** - Before market open - SaaS growth and margin trends watched closely. ## Earnings Themes - **Revenue Trends:** Strong revenue growth is evident in AI-related sectors, semiconductor manufacturing, and cloud computing, with companies like TSM, AMZN, META, and MU reporting robust top-line performance. Retail and industrial sectors show mixed results, with some companies like Carrier and Eaton benefiting from demand resilience. - **Margin Pressures or Expansion:** Margin expansion is seen in semiconductor and cloud companies due to high demand and pricing power. Conversely, companies like SailPoint and Autodesk face margin pressures from competitive and cost challenges. Energy and chemical sectors show margin volatility linked to commodity price swings. - **Guidance Sentiment:** There is a cautious tone in guidance from software and SaaS companies, with downgrades and cautious outlooks from ServiceNow, Intuit, and Autodesk. Meanwhile, semiconductor and AI-related firms maintain or raise guidance, reflecting confidence in sustained demand. Retailers and industrials offer mixed guidance amid economic uncertainties. ## Earnings Trade Ideas 1. **Long Semiconductor and AI Leaders:** Given the strong beats and positive outlooks from **$TSM**, **$MU**, and **$META**, investors may consider exposure to these names or related ETFs to capitalize on robust AI chip demand and cloud growth. The resilience in these sectors contrasts with broader market caution and offers growth potential. 2. **Cautious on SaaS and Software Stocks:** The sharp declines in **$NOW**, **$SNOW**, **$PLTR**, and **$INTU** following downgrades and cautious guidance suggest a need for selectivity in SaaS exposure. Traders might consider hedging or reducing positions in high-valuation software names until clearer signs of sustainable growth emerge.