Earnings Recap - February 27, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$DELL** - Dell Technologies reported strong Q4 results, beating revenue and profit expectations. The company highlighted a robust outlook driven by AI server demand, which is expected to double AI-related revenue. Shares surged nearly 10% in premarket trading, reflecting investor enthusiasm for Dell’s positioning in the AI infrastructure market. **$NFLX** - Netflix posted a solid Q4 with shares rallying over 11% premarket. The company’s decision to drop its Warner Bros. Discovery bid in favor of Paramount was well received, easing regulatory uncertainty and refocusing on core streaming growth. This strategic clarity helped boost investor confidence. **$ADSK** - Autodesk beat Q4 earnings estimates, with shares up nearly 5%. The company’s strong results and positive guidance underscore sustained demand for its software solutions, supported by ongoing digital transformation trends. **$BFLY** - Butterfly Network delivered a standout Q4, with shares soaring 47%. The company’s earnings call transcript revealed strong revenue growth and operational improvements, driving renewed investor interest in its medical imaging technology. **$BDSX** - Biodesix reported better-than-expected Q4 results, with shares rising nearly 13%. The company’s diagnostics business showed solid momentum, contributing to the positive market reaction. **$PUBM** - PubMatic’s Q4 earnings beat estimates, with shares up almost 20%. The digital advertising technology firm benefited from strong demand and improved monetization metrics. **$REAL** - The RealReal posted strong Q4 results with shares jumping 17.5%. Growth in platform engagement and sizable EBITDA gains were key drivers behind the rally. **$WRBY** - Warby Parker’s Q4 earnings beat expectations, shares up 15.6%. The eyewear retailer’s turnaround strategy and robust sales growth impressed investors. **$ASUR** - Asure Software beat Q4 estimates, shares rose 14.6%. The company’s health information services segment showed strong revenue growth. **$ARLO** - Arlo Technologies delivered a strong Q4, shares surged 21.7%. The smart home security company benefited from increased product demand and improved margins. **$PRAA** - PRA Group’s Q4 earnings beat by a wide margin, shares surged 32%. The debt collection firm’s strong cash flow and operational execution were well received. **$NWPX** - NWPX Infrastructure reported a 10.3% jump in shares after Q4 results showed solid performance in infrastructure investments. **$MARA** - Marathon Digital Holdings rose nearly 12% after reporting Q4 earnings, reflecting optimism around cryptocurrency mining prospects. ### Misses & Negative Reactions **$AMR** - Alpha Metallurgical Resources missed Q4 EPS estimates by $1.27 and revenue fell short of expectations. Shares declined sharply as the coal producer faced headwinds from weak demand and pricing pressures. **$COREWEAVE ($CRWV)** - CoreWeave reported a significant operating margin miss in Q4, causing shares to plunge 12.5%. The AI data center provider’s profitability challenges overshadowed revenue growth. **$AMPH** - Amphastar Pharmaceuticals missed Q4 earnings estimates and reported weak sales, leading to a 17.8% drop in shares. **$AIRG** - Airgain’s Q4 results disappointed with a 14.3% share decline. The wireless infrastructure company faced margin pressures and slower growth. **$EXFY** - Expensify missed Q4 EPS estimates by $0.12, shares fell 9.5%. The expense management software provider cited slowing customer growth. **$ZS** - Zscaler shares fell 7.1% after the company lowered its price target amid guidance concerns despite recent earnings. **$PCT** - PureCycle Technologies missed Q4 revenue estimates and shares dropped 15.5%, reflecting ongoing operational challenges. **$PRCT** - Procept BioRobotics missed EPS estimates by a wide margin, shares fell 17%. **$WD** - Walker & Dunlop shares plunged 18.7% after Q4 earnings missed expectations, highlighting margin compression in mortgage finance. **$WLDN** - Willdan Group’s Q4 earnings missed estimates, shares declined 11.8%. **$SEER** - Seer Inc. missed Q4 revenue forecasts, shares dropped 13.9%. **$PBYI** - Puma Biotechnology missed Q4 EPS estimates, shares down 10.8%. **$PCRX** - Pacira BioSciences missed Q4 earnings, shares fell 9.6%. **$CARS** - Cars.com shares declined nearly 16% after missing Q4 revenue and EPS estimates. **$TWI** - Titan International missed Q4 earnings, shares down 6.2%. **$INOD** - Innodata missed revenue estimates, shares down 4.7%. **$INTC** - Intel shares declined 4.6% after mixed Q4 results and cautious outlook. **$MU** - Micron Technology shares fell 5.3% despite strong AI-related memory demand, reflecting concerns over near-term margin pressure. **$SNPS** - Synopsys shares dropped 6.9% after the company cut guidance citing slowing core EDA growth. ## Reporting Today Companies expected to report earnings today: - **$ABR** (Arbor Realty Trust Inc) - Before market open - Watch for EPS estimate of $0.129 and revenue around $119M in mortgage REIT sector. - **$ALXO** (Alx Oncology Holdings Inc) - Before market open - EPS estimate negative at -$0.40, biotech sector focus. - **$AMRX** (Amneal Pharmaceuticals Inc) - Before market open - EPS estimate $0.1841, revenue $807M, specialty drug manufacturer. - **$ANIP** (ANI Pharmaceuticals Inc) - Before market open - EPS estimate $1.9821, revenue $231M. - **$BTSG** (BrightSpring Health Services Inc) - Before market open - EPS estimate $0.329, revenue $3.389B, health information services. - **$BVN** (Compania de Minas Buenaventura S.A. ADR) - Before market open - Notable beat with EPS $1.51 vs estimate $0.673 and revenue $623M vs $522M. - **$CLMT** (Calumet Inc) - Before market open - EPS estimate -$0.37, revenue $1.033B, specialty chemicals. - **$CRI** (Carters Inc) - Before market open - EPS estimate $1.7429, revenue $922M, apparel retail. - **$DCBO** (Docebo Inc) - Before market open - EPS estimate $0.3544, revenue $63M, software application. - **$DIBS** (1stdibs.com Inc) - Before market open - EPS estimate -$0.04, revenue $23M. - **$DK** (Delek US Holdings Inc) - Before market open - EPS estimate -$0.1892, revenue $2.489B, oil & gas refining. - **$DKL** (Delek Logistics Partners LP) - Before market open - EPS estimate $1.1199, revenue $284M. - **$ESCA** (Escalade, Inc) - Before market open - EPS estimate $0.20, revenue $58M, leisure. - **$EXK** (Endeavour Silver Corp) - Before market open - EPS estimate $0.0514, revenue $171M. - **$FLGT** (Fulgent Genetics Inc) - Before market open - EPS estimate $0.0298, revenue $85M. - **$FRO** (Frontline Plc) - Before market open - EPS estimate $1.142, revenue $456M. - **$GDEN** (Golden Entertainment Inc) - Before market open - Reported miss with EPS -$0.2797 vs estimate $0.165, revenue $156M vs $166M. - **$GLP** (Global Partners LP) - Before market open - EPS estimate $0.60, revenue $6.938B. - **$GOGO** (Gogo Inc) - Before market open - EPS estimate $0.01, revenue $221M. - **$GSAT** (Globalstar Inc) - Before market open - EPS estimate -$0.0155, revenue $71M. - **$INTT** (Intest Corp) - Before market open - EPS estimate $0.11, revenue $31M. - **$LIQT** (LiqTech International Inc) - Before market open - EPS estimate -$0.17, revenue $5M. - **$NIQ** (NIQ Global Intelligence plc) - Before market open - EPS estimate $0.2905, revenue $1.118B. - **$NWN** (Northwest Natural Holding Co) - Before market open - EPS estimate $1.36, revenue $435M. - **$PSO** (Pearson plc ADR) - Before market open - Reported in line EPS $0.5233, revenue $2.522B. - **$RADX** (Radiopharm Theranostics Ltd ADR) - Before market open - Missed EPS -$2.2386 vs -$1.508. - **$SHO** (Sunstone Hotel Investors Inc) - Before market open - EPS estimate -$0.0007, revenue $223M. - **$TAC** (Transalta Corp) - Before market open - EPS estimate $0.0326, revenue $500M. - **$TCPC** (BlackRock TCP Capital Corp) - Before market open - EPS estimate $0.2532. Light earnings calendar today outside these names. ## Earnings Themes - **AI and Technology Growth:** Dell’s strong AI server demand and Autodesk’s robust software sales highlight continued tech sector strength, especially around AI infrastructure and digital transformation. However, margin pressures are evident in some AI-related firms like CoreWeave and Synopsys, reflecting the high cost of scaling AI operations. - **Mixed Retail and Consumer Results:** Apparel and specialty retailers such as Carters Inc. and Warby Parker show divergent results, with some beating estimates and others missing, indicating uneven consumer demand. - **Energy and Materials Volatility:** Alpha Metallurgical Resources and Golden Entertainment missed estimates amid challenging commodity pricing and demand environments, while mining companies like Buenaventura delivered strong beats, reflecting sector bifurcation. - **Healthcare and Biotech:** Mixed results with some specialty pharma companies beating (Amneal Pharmaceuticals) while others miss (Puma Biotechnology, Procept BioRobotics), showing ongoing volatility in biotech and specialty pharma. - **Financials and REITs:** Mortgage REITs and specialty finance firms like PRA Group and Arbor Realty show solid earnings, but margin pressures and cautious guidance persist in some credit-focused names. - **Guidance Sentiment:** Several companies are cautious or lowering guidance (e.g., Amphastar, CoreWeave, Synopsys), while others like Dell and Amadeus maintain or raise outlooks, underscoring a bifurcated earnings environment. ## Earnings Trade Ideas 1. **Long Dell Technologies ($DELL):** With AI server demand expected to double AI-related revenue and a strong Q4 beat, Dell is well positioned to capitalize on the AI infrastructure boom. The stock’s 10% premarket jump suggests momentum that could continue as AI spending accelerates. 2. **Cautious on CoreWeave ($CRWV):** Despite revenue growth, CoreWeave’s significant operating margin miss and 12.5% share decline highlight profitability challenges in AI data centers. Investors may want to avoid or short until margin improvement is evident. 3. **Watch PRA Group ($PRAA):** The debt collection firm’s 32% surge on strong Q4 earnings and cash flow suggests a potential turnaround play in specialty finance, especially as credit conditions stabilize. 4. **Avoid Alpha Metallurgical Resources ($AMR):** The coal producer’s large earnings miss and revenue shortfall amid weak demand suggest continued headwinds in the coal sector, making it a risky proposition currently. Overall, earnings reflect a market grappling with AI-driven growth opportunities tempered by margin pressures and uneven demand across sectors. Investors should focus on companies with clear AI exposure and strong operational execution while being cautious on those with profitability and guidance risks.