Earnings Recap - February 23, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$DPZ** - Domino's Pizza Inc. reported earnings that beat estimates with strong U.S. sales growth. Despite a slight EPS miss of $0.04, revenue topped expectations, driving a 5.92% stock increase to $407.94. The positive reaction reflects investor confidence in Domino's ability to attract budget-conscious customers through deals and promotions. **$ETSY** - Etsy surged 7.10% to $51.56 following earnings that impressed the market. The company’s performance likely benefited from the recent sale of Depop, which Bernstein SocGen reiterated as a positive catalyst. Etsy’s strong revenue growth and margin improvement contributed to the upbeat sentiment. **$AAON** - AAON reported robust results, highlighting a strong product portfolio for data center opportunities. The stock rose 2.92% to $103.97, reflecting optimism about demand in the data center sector and the company’s positioning in that market. **$ADI** - Analog Devices (ADI) saw a 2.37% gain to $353.48 after raising its outlook amid signs of recovery in the chip cycle. The company’s results and guidance suggest improving momentum in semiconductor demand, particularly for AI-related applications. **$DELL** - Dell Technologies rose 2.09% to $121.55 following a strong quarterly report. The company’s results indicate resilience in enterprise IT spending, supporting the stock’s positive move. **$GKOS** - Glaukos Corporation posted strong Q4 results with 38.1% revenue growth, lifting the stock 2.71% to $120.27. The company’s performance signals robust demand in the ophthalmic medical device market. **$GOOGL** - Alphabet’s shares jumped 4.77% to $317.30, buoyed by strong revenue growth and a $240 billion backlog that reassures investors about future earnings. Wells Fargo also upgraded the stock on its AI leadership traits. **$CPA** - Copa Holdings gained 1.96% to $142.07 amid mixed but generally positive operational momentum. The company’s outlook for 2026 appears constructive despite some market uncertainty. **$BLK** - BlackRock climbed 1.73% to $1099.94, supported by its life sciences co-funding agreement with Johnson & Johnson and solid asset management performance. **$AMZN** - Amazon rose 1.59% to $208.11, reflecting ongoing strength in its cloud and e-commerce segments, as well as investor enthusiasm for its AI investments. ### Misses & Negative Reactions **$BX** - Blackstone Group fell 4.58% to $120.00 despite its recent life sciences deal, possibly due to concerns over private credit market conditions and software loan exposure. **$SNOW** - Snowflake declined 4.58% to $171.00 after Stifel cut its price target citing margin concerns. The stock’s drop reflects investor caution on profitability amid heavy AI-related investments. **$PL** - Planet Labs dropped 6.81% to $23.40 following the unveiling of advisory boards for strategic expansion, but the market appears concerned about valuation and execution risks. **$LUNR** - Intuitive Machines fell 6.54% to $17.00 despite being poised for opportunities in space commercialization. The decline may reflect skepticism about near-term growth prospects. **$CF** - CF Industries declined 3.48% to $96.00 amid political and market uncertainties affecting fertilizer demand and pricing. **$AI** - C3.ai dropped 3.83% to $10.29, indicating investor disappointment possibly related to AI spending scrutiny and competitive pressures. **$SOFI** - SoFi Technologies fell 2.95% to $18.73, reflecting concerns over fintech competition and regulatory challenges. **$INTC** - Intel declined 2.51% to $43.50, pressured by ongoing margin compression and competitive dynamics in the semiconductor sector. **$ED** - Consolidated Edison slipped 1.89% to $109.81 despite a raised price target from Mizuho, suggesting investor caution on utility sector fundamentals. **$VEEV** - Veeva Systems traded down 1.54% to $179.75 despite impressive results, possibly due to profit-taking after recent gains. **$CNC** - Centene Corporation fell 2.47% to $42.60, reflecting mixed investor sentiment on healthcare sector challenges. ## Reporting Today Companies expected to report earnings today: - **$JPM** - Before market open - Key metrics to watch include quarterly earnings, revenue, and updates on the $2 billion weekly spending plan CEO Jamie Dimon will defend at the annual investor day. - **$TGT** - Before market open - Watch for same-store sales growth and margin trends, following Piper Sandler’s recent price target raise to $102. - **$WMT** - Before market open - Investors will focus on revenue and margin outlook amid a 1.74% stock decline to $122.70, reflecting concerns over consumer demand. - **$META** - Before market open - Key metrics include ad revenue growth and AI investment impact, with shares up 0.84% to $650.20. - **$NVDA** - After market close - Nvidia’s earnings will be closely watched for AI-driven growth metrics and guidance, with shares up 1.58% to $190.87. - **$CRM** - After market close - Salesforce’s results will be scrutinized for AI opportunity capitalization and margin trends; shares down 1.26% to $182.95. - **$MSFT** - After market close - Microsoft’s earnings will be analyzed for cloud growth and AI integration; shares down 0.85% to $395.08. - **$SNOW** - After market close - Snowflake’s results will be critical given recent price target cuts and margin concerns. - **$ETSY** - After market close - Following a strong report, investors will look for continued momentum and margin expansion. - **$DPZ** - After market close - Domino’s will report again, with focus on U.S. sales and margin outlook. ## Earnings Themes - Revenue Growth: Several companies, especially in tech (Alphabet, Amazon, Analog Devices) and consumer discretionary (Domino's, Etsy), continue to report strong revenue growth driven by AI adoption and consumer demand. - Margin Pressures: Some software and semiconductor firms (Snowflake, Intel, C3.ai) face margin compression due to heavy investments in AI and competitive pricing pressures. - Guidance Sentiment: Mixed signals with some companies raising guidance (Analog Devices, AAON) while others caution on near-term challenges (Snowflake, CF Industries). Financials like JPMorgan will be key to watch for spending and cost outlook. ## Earnings Trade Ideas 1. **$DPZ** (Domino’s Pizza) - Despite a slight EPS miss, strong revenue growth and positive U.S. sales momentum suggest a potential buy-the-dip opportunity ahead of its after-hours report. The stock’s 5.92% jump overnight indicates market confidence in its pricing power and deal strategy. 2. **$SNOW** (Snowflake) - With recent price target cuts and margin concerns, Snowflake may present a volatility-driven trading opportunity post-earnings. Investors should monitor guidance closely for signs of AI investment payoffs or further margin pressure. Overall, the market is digesting a mix of strong growth from tech and consumer names alongside caution in software and industrial sectors, with AI investment impacts a central theme.