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 Q4 fiscal 2025 results with strong operational momentum, including a 15% dividend hike and the addition of 392 stores worldwide. The CEO expects 3% same-store sales growth in 2026. Shares rose 5.48% to $406.25, reflecting investor confidence in growth and shareholder returns. **$ETSY** - Etsy delivered impressive results, with shares surging 7.10% to $51.56. BTIG reiterated a Buy rating with a $65 price target, highlighting the company’s strong marketplace performance and growth prospects following the recent Depop sale. **$GKOS** - Glaukos posted strong Q4 results with 38.1% revenue growth, lifting shares 2.71% to $120.27. The robust top-line expansion signals solid demand in its ophthalmic device segment. **$ADI** - Analog Devices showed recovery momentum in the chip cycle, prompting a 2.37% rise in shares to $353.48. Baird raised the outlook, citing sustainable demand in AI-related markets. **$AAON** - AAON gained 2.92% to $103.97 after highlighting a robust product portfolio for data center opportunities, suggesting strong end-market demand. **$DELL** - Dell Technologies shares rose 2.08% to $121.54, buoyed by positive analyst sentiment ahead of earnings and expectations of improved execution in its enterprise solutions. **$GOOGL** - Alphabet shares climbed 4.83% to $317.47, supported by analyst upgrades and optimism around its fastest-growing segment tied to AI infrastructure. **$XEL** - Xcel Energy increased 1.46% to $82.00 after naming Rob Cain as CTO, signaling a focus on technology-driven growth in the utility sector. **$CPA** - Copa Holdings shares rose 1.96% to $142.07 amid operational momentum, though mixed sentiments remain on Wall Street. ### Misses & Negative Reactions **$LUNR** - Intuitive Machines shares plunged 6.82% to $16.95 despite being poised for opportunities in space and lunar commercialization, reflecting investor caution on near-term execution risks. **$PL** - Planet Labs dropped 6.61% to $23.45 after unveiling advisory boards but facing valuation concerns amid strategic expansion. **$SNOW** - Snowflake shares fell 4.64% to $170.88 on margin concerns and a Stifel price target cut, indicating investor worries about profitability despite revenue growth. **$BX** - Blackstone shares declined 4.58% to $120.00, pressured by private credit challenges and cautious outlooks on loan portfolios. **$AI** - C3.ai dropped 4.02% to $10.27 amid broader AI sector volatility and investor rotation. **$CF** - CF Industries fell 3.48% to $96.00, weighed down by fertilizer market uncertainties and geopolitical risks. **$U** - Unity shares declined 2.00% to $18.12 despite a new long rating from Hedgeye, reflecting mixed sentiment on near-term growth. **$INTC** - Intel dropped 2.38% to $43.56, continuing to face headwinds from competitive pressures and execution challenges. **$WMT** - Walmart shares fell 1.82% to $122.59 despite strong unit share gains, possibly reflecting tariff uncertainties and margin pressure. **$VEEV** - Veeva Systems declined 1.54% to $179.75 despite posting impressive results, suggesting profit-taking or valuation concerns. **$ED** - Consolidated Edison fell 1.89% to $109.81 after a price target raise, indicating some investor hesitation despite positive fundamentals. **$ETN** - Eaton shares dropped 1.87% to $370.25 amid tariff-related uncertainties and cautious outlooks. ## Reporting Today Companies expected to report earnings today: - **$HD** - Before market open - Key metrics to watch include Q4 EPS expected around $2.53, with focus on same-store sales, margin trends, and dividend outlook amid tariff uncertainties. - **$WFC** - Before market open - Watch for Q4 earnings and loan growth metrics, as well as commentary on credit quality and interest rate outlook. - **$BAC** - Before market open - Key focus on Q4 earnings, net interest margin, and trading revenue amid a volatile macro environment. - **$JPM** - Before market open - Investors will look for Q4 earnings, loan growth, and guidance on expense management and capital returns. - **$C** - Before market open - Watch for Q4 results, credit loss provisions, and commentary on consumer and corporate loan demand. - **$CRM** - After market close - Focus on subscription revenue growth, margin pressures, and guidance in the enterprise software space. - **$MSFT** - After market close - Key metrics include cloud revenue growth, AI-related sales, and margin trends. - **$META** - After market close - Investors will scrutinize advertising revenue, AI investments, and user engagement metrics. - **$AMZN** - After market close - Focus on e-commerce sales growth, AWS performance, and margin outlook. - **$AAPL** - After market close - Watch for device sales, services revenue, and guidance amid AI and supply chain considerations. - **$SNOW** - After market close - Investors will look for margin improvement plans and revenue growth updates. - **$ETSY** - After market close - Continued growth in marketplace metrics and margin expansion will be key. ## Earnings Themes - Revenue trends continue to show strength in AI-related technology companies, with Alphabet, Analog Devices, and others benefiting from enterprise AI demand. - Consumer discretionary names like Domino’s and Etsy are demonstrating resilience through dividend hikes and strong same-store sales growth despite macro uncertainties. - Margin pressures remain a concern for some software and cloud companies, as seen in Snowflake’s recent price target cuts and cautious guidance. - Financials are expected to report steady earnings with focus on loan growth, credit quality, and capital deployment amid a complex interest rate environment. - Tariff-related uncertainties and geopolitical risks are influencing investor sentiment, particularly in industrials and energy sectors. - Guidance sentiment appears mixed, with some companies raising dividends and outlooks (Domino’s), while others face cautious or lowered guidance due to cost pressures and competitive dynamics. ## Earnings Trade Ideas 1. **$DPZ** (Domino’s Pizza): Strong Q4 results, dividend hike, and global store expansion position Domino’s as a compelling income and growth play in consumer discretionary. Consider long exposure ahead of sustained same-store sales growth guidance. 2. **$ETSY** (Etsy): With a 7%+ overnight gain and positive analyst reaffirmations, Etsy’s marketplace strength and margin expansion make it an attractive pick in e-commerce. Watch for continued momentum post-earnings. 3. Watch **$HD** (Home Depot) ahead of its Q4 report for potential dividend income and stable consumer demand signals amid tariff uncertainties. The stock’s modest pre-market gains suggest cautious optimism. 4. For technology investors, **$GOOGL** and **$ADI** offer exposure to AI infrastructure growth, with recent analyst upgrades supporting a bullish stance. Consider selective exposure in anticipation of strong earnings and guidance.