After Hours Report

Last Updated: 27-May-26 17:14 ET | Archive

After hours report provides a review of the day’s stock market and treasury market session performance with a recap of indices, sector, and industry performance, trends, as well as key news items that impacted the markets. Get a run-down of general news events, broker ratings changes, key after hours earnings reports and guidance, and highlights of events scheduled for the next day. On Fridays, the After Hours Report is a recap of the week’s stock market activity.

Snowflake powers higher on earnings and AWS collaboration; Salesforce modestly lower

The stock market had a relatively quiet session, with some profit-taking across semiconductor names limiting gains across the S&P 500 (flat) and Nasdaq Composite (+0.1%), while another retreat in oil prices supported strength in the broader market, sending the DJIA (+0.4%) to fresh record highs.

While the S&P 500 managed to capture a record closing high, the index spent much of the session in negative territory, which was largely due to weakness in the information technology sector (-0.4%). The sector finished well off its session lows, but semiconductor names remained a point of weakness following yesterday's Micron-led rally.

Micron (MU 928.41, +32.53, +3.63%) and other memory storage names managed to finish the session with gains, but large chipmakers such as NVIDIA (NVDA 212.60, -2.26, -1.05%) and Intel (INTC 121.77, -1.75, -1.42%) traded lower, while Qualcomm (QCOM 233.40, -15.42, -6.20%) was a notable laggard.

The PHLX Semiconductor Index finished 1.4% lower.

The information technology sector was one of five S&P 500 sectors to finish lower today, though losses elsewhere were generally modest.

The financials sector (-0.8%) was another laggard, with particular weakness across investment manager and insurance names. JPMorgan Chase (JPM 299.28, -7.46, -2.43%) traded lower after CEO Jamie Dimon said at a conference that the bank could commit $10 billion to $20 billion toward an acquisition in the coming years.

Elsewhere, the energy sector (-1.5%) finished with the widest loss as optimism surrounding a potential peace agreement between the U.S. and Iran sent oil prices sharply lower again today. The White House denied reports from Iranian state media suggesting the two sides are close to finalizing a memorandum of understanding that would restore traffic through the Strait of Hormuz, though Secretary of State Marco Rubio said during a cabinet meeting that some progress has been made toward a peace agreement.

Crude oil futures settled today's session $5.29 lower (-5.6%) at $88.60 per barrel.

Airlines, cruise lines, and homebuilders all outperformed again today, with the latter two groups helping lift the consumer discretionary sector (+1.9%). Treasury yields also moved modestly lower, and the iShares U.S. Home Construction ETF advanced 1.6%.

Elsewhere in the sector, Amazon (AMZN 271.85, +6.56, +2.47%) provided solid mega-cap leadership, while MGM Resorts (MGM 41.95, +3.50, +9.10%) was among the best-performing S&P 500 components after several brokerage upgrades.

The consumer staples sector (+1.0%) also outperformed as investors did some bargain hunting following yesterday's retreat, while Meta Platforms (META 635.26, +22.92, +3.74%) moved higher this afternoon after TechCrunch reported that the company plans to introduce global consumer subscription offerings, helping lift the communication services sector (+0.7%) to its best levels of the session.

Overall, stocks remained near record levels despite some consolidation across semiconductor names, while falling oil prices continued to reinforce optimism that a U.S.-Iran agreement is becoming increasingly plausible. At the same time, investors have continued to show a willingness to buy dips across semiconductors and other AI-related names, which could fuel another push further into record territory.

U.S. Treasuries padded this week's gains during an otherwise quiet Wednesday session. Treasuries set fresh lows after today's $70 billion 5-year note auction met weaker demand than yesterday's solid 2-year note sale, but the last couple hours saw a return to pre-auction levels. The 2-year note yield settled down two basis points to 4.03%, the 5-year note yield settled down one basis point to 4.18%, and the 10-year note yield settled down one basis point to 4.48%.

Russell 2000: +17.7% YTD
Nasdaq Composite: +14.8% YTD
S&P Mid Cap 400: +12.4% YTD
S&P 500: +9.9% YTD
DJIA: +5.4% YTD

Reviewing today's data:

The weekly MBA Mortgage Index fell 8.5% to follow last week's 2.3% decrease. The Purchase Index was down 0.4% while the Refinance Index fell 18.1%.

Overseas:

Europe: DAX +0.1%, FTSE +0.1%, CAC +0.4%
Asia: Nikkei flat, Hang Seng -1.1%, Shanghai -1.3%

Commodities:

Crude Oil -5.29 @ 88.60
Nat Gas +0.08 @ 3.09
Gold -52.90 @ 4448.50
Silver -1.74 @ 74.89
Copper -0.06 @ 6.34

After-Hours Spotlight:

Agilent (A) beats by $0.08, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY26 EPS above consensus, revs in-line...A +12.2%
American Superconductor (AMSC) beats by $0.12, beats on revs; guides Q1 EPS in-line, revs in-line...AMSC -9.0%
Braze (BRZE) reports EPS in-line, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 EPS in-line, revs above consensus...BRZE -12.5%
Everpure (P) beats by $0.07, beats on revs; guides Q2 revs above consensus; guides FY27 revs above consensus...P -7.8%
HP Inc. (HPQ) beats by $0.15, beats on revs; guides Q3 EPS in-line; guides FY26 EPS above consensus...HPQ +0.2%
Marvell (MRVL) reports EPS in-line, revs in-line; mid-points of Q2 EPS and revenue guidance above consensus...MRVL -1.5%
Nutanix (NTNX) beats by $0.11, beats on revs; guides Q4 revs in-line...NTNX +3.1%
Salesforce (CRM) beats by $0.75, reports revs in-line; guides Q2 EPS above consensus, revs below consensus; raises FY27 EPS above consensus, revs in-line; enters accelerated share repurchase agreement...CRM -1.1%
Snowflake (SNOW) beats by $0.07, beats on revs; Guides Q2 product revenue above consensus, raises FY27 product revenue and non-GAAP operating margin guidance; also signs multi-year strategic collaboration agreement with Amazon Web Services; also to acquire Natoma...SNOW +32.5%
Synopsys (SNPS) beats by $0.20, beats on revs; guides Q3 EPS above consensus, revs in-line; raises FY26 EPS above consensus, revs in-line...SNPS -1.6%

Fair Value for Thursday, May 28:

S&P 500: 7,536
Nasdaq 100: 30,044
DJIA: 50,702

Today's News Summary:

For a full rundown of today's market and after hours developments, see Live In Play

Earnings/Guidance (Full E arnings Calendar):
- Abercrombie & Fitch (ANF) beats by $0.19, reports revs in-line, comps -1%; guides Q2 EPS below consensus, revs in-line; reaffirms FY27 EPS guidance, revs guidance
- AT&T (T) reaffirms FY26 guidance and multi-year outlook; Also expects Q2 free cash flow of $4.0-$4.5 bln
- Bank of Montreal (BMO) beats by CAD 0.13; beats on revs
- Bank of Nova Scotia (BNS) beats by CAD 0.09; beats on revs
- Bath & Body Works (BBWI) beats by $0.03, beats on revs; guides Q2 EPS in-line, revs in-line; reaffirms FY27 EPS guidance, revs guidance
- Box (BOX) beats by $0.01, reports revs in-line; guides Q2 EPS in-line, revs above consensus; guides FY27 EPS in-line, revs in-line
- Capri Holdings (CPRI) beats by $0.10, reports revs in-line; guides Q1 EPS above consensus, revs below consensus; sees FY27 EPS and revs above consensus
- Dick's Sporting Goods (DKS) beats by $0.01, beats on revs; reaffirms FY27 EPS guidance, revs guidance, raises low end of FY27 guidance ranges for comparable sales growth
- Dycom (DY) beats by $1.70, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY27 revs above consensus; Entered into definitive agreement to acquire National Technology Integrators for $275 mln
- Enerflex (EFXT) releases investor presentation outlining the Company’s outlook, strategic priorities
- Kingsoft Cloud (KC) beats by RMB 0.47, beats on revs
- Modine (MOD) beats by $0.16, beats on revs; mid-point of FY27 revenue guidance above consensus
- Monro Muffler (MNRO) misses by $0.09, misses on revs; results were challenged by a difficult operating environment; initiates review of strategic alternatives
- NorthWestern (NWE) will reaffirm guidance for FY26 (Dec), sees EPS of $3.68-3.83, excluding non-recurring items, vs. $3.73 FactSet Consensus
- PDD Holdings (PDD) misses by RMB 7.05, misses on revs
- Semtech (SMTC) beats by $0.06, beats on revs; guides Q2 EPS above consensus, revs above consensus
- Sociedad Quimica y Minera (SQM) misses by $0.27, beats on revs
- TTM Tech (TTMI) reaffirms FY26 revenue guidance
- Zscaler (ZS) beats by $0.07, beats on revs, ARR grew 25% yr/yr; guides Q4 EPS above consensus, revs below consensus
General News
- President Trump will meet with his cabinet today at 11:00 amid ongoing Iran talks. CBS News
- President Trump at cabinet meeting says he will not accept a deal where Iran/Oman controls the Strait of Hormuz; says they will have to behave or "we will blow them up"
- President Trump says he is not sure he will agree to Iran deal if more Arab nations do not join the Abraham Accords (which normalized relations with Israel)
- Iran's Supreme National Security Council says indirect talks with the U.S. are continuing. Israel ramps up attacks on Lebanon. Bloomberg
- White House has denied reporting from Iranian media regarding memo of understanding. Bloomberg
- Secretary of State Marco Rubio at cabinet meeting says there has been some progress toward Iran agreement; says he will see if more progress can be made over the next few days; says U.S. will give talks every chance to succeed; President Trump said "we are not satisfied yet" with Iran deal
- EU governments approve plan to remove import duties on many U.S. goods following request from President Trump. Reuters
- President Trump says it is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained
- Apogee Therapeutics (APGE) announced 'positive' 16-week data from Part B of the Phase 2 APEX clinical trial of zumilokibart; also announces strategic financing collaboration with funds managed by Blackstone Life Sciences for up to $1.3 bln
- Arrowhead (ARWR) presents new clinical data on RNAi-based obesity and MASH Candidate ARO-INHBE at EASL 2026
- AstraZeneca (AZN): US FDA decision date extended for SERENA-6 filing of camizestrant to enable review of additional data
- Atea Pharmaceuticals (AVIR) presents new drug-drug interaction results supporting potential best-in-class profile of the regimen of bemnifosbuvir and ruzasvir for the treatment of hepatitis c virus at EASL Congress 2026
- BILL (BILL) Announces Executive Leadership Appointments and Organizational Updates to Support Next Phase of Growth
- Biohaven (BHVN) Reports Positive Clinical Biomarker and Patient Data: First MoDE and TRAP Extracellular Protein Degraders Achieve Deep, Rapid, Selective Lowering of Disease-Driving Antibodies in Graves' Disease and IgA Nephropathy
- Bitdeer Technologies (BTDR) CFO Jianchun Liu has tendered his resignation
- Boeing (BA) at conference says it has met all FAA requirements to increase 737 Max production to 47/month
- BP (BP): Former BP Chairman Albert Manifold denied claims of wrongdoing. Bloomberg
- BridgeBio Pharma (BBIO) announces FDA acceptance and Priority Review of NDA for BBP-418 for LGMD2I/R9
- Broadcom (AVGO) unveils integrated 5G and Wi-Fi 8 FWA platform in collaboration with Samsung Electronics
- Brookfield Corp. (BN) and Brookfield Wealth Solutions receive board approval for corporate simplification
- Cencora (COR) appointed Executive Vice President and Chief Financial Officer of the Company, effective June 29; reaffirms fiscal 2026 and long-term financial guidance
- Climb Global Solutions (CLMB) announces North American distribution partnership with Quantum (QMCO)
- Dentsply Sirona (XRAY) announces the strengthening of its U.S. footprint through an expanded partnership with Nashville Dental
- DuPont (DD) announces a reverse stock split of its common stock at a ratio of 1-for-3; Also reaffirms Q2 and FY26 EPS, operating EBITDA, and net sales guidance
- Elemental Royalty Corporation (ELE) executes agreement with KGHM Subsidiary to option and explore four Porphyry Copper Projects in Nevada
- Firefly Aerospace (FLY) awarded a $75 mln subcontract from NASA’s Jet Propulsion Laboratory to deliver four drones to the Moon’s south pole
- Ford Motor (F) benefiting from entry into energy storage business, according to WSJ
- Gilead Sciences (GILD): Phase 3 ASSURE Interim data: majority of people in the study with ALP 1–1.67×ULN achieved high and sustained composite ALP normalization at 24 months with Gilead’s Livdelzi (seladelpar)
- H.B. Fuller (FUL) issues statement regarding value creation strategy
- Home Depot (HD) discloses it plans to invest approximately $4 billion back into its business in the form of capital expenditures in fiscal 2026 (
- Immunic (IMUX) appoints Erik Lundgren as Chief Executive Officer, effective May 22, 2026, with employment beginning on June 1, 2026
- Insulet (PODD) announces voluntary Medical Device Correction for specific lots of Omnipod 5, Omnipod DASH, and Omnipod Insulin Management System (Omnipod Eros) Pods due to a manufacturing issue
- IREN Limited (IREN) announces it has entered into a purchase agreement with Dell for air-cooled Blackwell systems to service its previously announced five-year, $3.4 bln managed services AI cloud contract
- Jade Biosciences (JBIO) announces first participant dosed in first-in-human Phase 1 clinical trial of JADE201, a novel half-life extended Afucosylated anti-BAFF receptor monoclonal antibody
- JPMorgan Chase (JPM) CEO Jamie Dimon says the bank will put $10-20 bln to work over the next few years; says he thinks stock prices are high, including JPM
- lululemon athletica (LULU) enters into cooperation agreement with Chip Wilson; Laura Gentile and Marc Maurer to Join Company’s Board of Directors
- MaxLinear (MXL) and GCT Semiconductor (GCTS) partner to develop next-generation 5G FWA and converged gateways
- Medifast (MED) confirms appointment of Nicholas Johnson as Chief Executive Officer
- Meta Platforms (META) will introduce consumer subscription plans globally, according to Tech Crunch
- Monro Muffler (MNRO) announces strategic alternatives review to maximize shareholder value
- Nuvalent (NUVL) announced FDA acceptance of its NDA for neladalkib; PDUFA target action date of November 27, 2026
- Nvidia (NVDA) will spend $150 bln per year in Taiwan. Reuters
- NVIDIA (NVDA): Taiwan prosecutors believe Nvidia chips were smuggled to China through Japan. Bloomberg
- Precigen (PGEN) receives orphan drug exclusivity for PAPZIMEOS (zopapogene imadenovec-drba) in the United States
- Precision BioSciences (DTIL) announces new and late-breaking PBGENE-HBV clinical data from the ELIMINATE-B study at european association for the Study of the Liver Congress 2026
- Rambus (RMBS) announces its complete DDR5 9600 Client Memory Module Chipset for high-performance CUDIMM, CQDIMM and CSODIMM modules
- Robinhood Markets (HOOD) confirms customers can connect their own AI agents to Robinhood to help manage and automate trading and credit card purchases, with built-in safety controls and a real-time activity feed
- Rocket Lab USA (RKLB) has successfully passed System Requirements Review for the Space Development Agency's Tracking Layer Tranche 3 (TRKT3) constellation
- RTX (RTX) awarded a $1.02 bln firm-fixed-price Army contract for the procurement of NASAMS fire units
- Samsung (SSNLF) workers approve profit-sharing agreement. FT
- Six Flags Entertainment (FUN) shareholders elect all three director nominees to the Six Flags board
- StoneX Group (SNEX) announces a 3-for-2 split of its common stock
- Taiwan Semiconductor Manufacturing (TSM) discloses adjustment to cash dividend per share
- Taiwan Semiconductor Manufacturing (TSM) staff will see a 30% increase in profit sharing, according to Bloomberg
- TeraWulf (WULF) CEO Paul Prager says the company is now an energy infrastructure company -- CNBC interview
- TG Therapeutics (TGTX) announces positive topline results from phase 3 ENHANCE Trial
- Uber (UBER) pushes towards acquiring European competitor, Delivery Hero (DELHY), by increasing their stake to almost 37%, according to Financial Times
- Verra Mobility (VRRM) received a termination notice from Avis Budget Group regarding its contract with the company; Issues downside FY26 guidance
- Viridian Therapeutics (VRDN) discloses it entered into a commercial manufacturing services agreement with WuXi Biologics

Upgrades:
- Advanced Drainage Systems (WMS) upgraded to Overweight from Equal Weight at Stephens, tgt $175
- BioNTech (BNTX) upgraded to Buy from Neutral at UBS, tgt $135
- CDW (CDW) upgraded to Overweight from Neutral at JPMorgan, tgt $130
- Ecolab (ECL) upgraded to Buy from Neutral at UBS, tgt $325
- FedEx (FDX) upgraded to Overweight from Neutral at JPMorgan, tgt $460
- Gulfport Energy (GPOR) upgraded to Outperform from Neutral at Mizuho, tgt $252
- GXO Logistics (GXO) upgraded to Overweight from Equal Weight at Barclays, tgt $65
- H.B. Fuller (FUL) upgraded to Neutral from Underweight at JPMorgan, tgt $58
- ICU Medical (ICUI) upgraded to Buy from Hold at Needham, tgt $165
- Ingram Micro (INGM) upgraded to Neutral from Underweight at JPMorgan, tgt $27
- Insight Enterprises (NSIT) upgraded to Neutral from Underweight at JPMorgan, tgt $105
- MGM Resorts (MGM) upgraded to Buy from Hold at Truist, tgt $55
- MGM Resorts (MGM) upgraded to Overweight from Neutral at JPMorgan, tgt $46
- MSCI (MSCI) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $700
- Nayax (NYAX) upgraded to Outperform from Perform at Oppenheimer, tgt $86
- Par Pacific (PARR) upgraded to Outperform from Neutral at Mizuho, tgt $79
- Pebblebrook Hotel (PEB) upgraded to Buy from Hold at Truist, tgt $17
- Phillips 66 (PSX) upgraded to Outperform from Neutral at Mizuho, tgt $212
- RPM Inc (RPM) upgraded to Buy from Neutral at UBS, tgt $130
- SanDisk (SNDK) upgraded to Overweight from Equal Weight at Barclays, tgt $2,300
- TD Synnex (SNX) upgraded to Overweight from Neutral at JPMorgan, tgt $298
Downgrades:
- ACNB Corp. (ACNB) downgraded to Market Perform from Outperform at Hovde Group, tgt $57
- Dollar General (DG) downgraded to Hold from Buy at Deutsche Bank,t gt $110
- Endava (DAVA) downgraded to Neutral from Buy at Guggenheim
- Ferrovial (FER) downgraded to Neutral from Buy at Citigroup, tgt $70
- First Interstate (FIBK) downgraded to Neutral from Buy at DA Davidson, tgt $39
- Genesco (GCO) downgraded to Neutral from Buy at Seaport Research
- Here Group (HERE) downgraded to Neutral from Buy at Citigroup, tgt $2.50
- HF Sinclair (DINO) downgraded to Neutral from Outperform at Mizuho
- Kennametal (KMT) downgraded to Underweight from Equal Weight at Barclays, tgt $33
- Kosmos (KOS) downgraded to Underperform from Neutral at Mizuho, tgt $3
- Ralliant (RAL) downgraded to Hold from Buy at Vertical Research, tgt $65
- Sportradar (SRAD) downgraded to Neutral from Overweight at JPMorgan, tgt $16
- Verra Mobility (VRRM) downgraded to Hold from Buy at Deutsche Bank, tgt $9
- Verra Mobility (VRRM) downgraded to Market Perform from Outperform at William Blair
- Verra Mobility (VRRM) downgraded to Neutral from Outperform at Robert W. Baird, tgt $8
- Verra Mobility (VRRM) downgraded to Underweight from Neutral at JPMorgan, tgt $8
- Vinci (VCISY) downgraded to Neutral from Buy at Citigroup
- Westlake (WLK) downgraded to Neutral from Buy at Citigroup, tgt $95
- Winnebago (WGO) downgraded to Neutral from Buy at Citigroup, tgt $30
- Xiaomi (XIACF) downgraded to Underperform from Hold at Jefferies
- Zscaler (ZS) downgraded to In Line from Outperform at Evercore ISI, tgt $155
Others:
- Agilent (A) initiated with an Outperform at RBC Capital, tgt $153
- Asbury Automotive (ABG) initiated with a Neutral at UBS, tgt $202
- AutoNation (AN) initiated with a Buy at UBS, tgt $234
- BioAge Labs (BIOA) initiated with a Buy at Roth Capital, tgt $36
- CarMax (KMX) initiated with a Neutral at UBS, tgt $42
- Cellebrite (CLBT) initiated with a Buy at DA Davidson, tgt $20
- Century Therapeutics (IPSC) initiated with an Outperform at Mizuho, tgt $8
- Dave (DAVE) initiated with an In Line at Evercore ISI, tgt $260
- Fervo Energy (FRVO) initiated with a Hold at Jefferies, tgt $42
- GE Aerospace (GE) initiated with a Buy at Seaport Research, tgt $375
- Group 1 Automotive (GPI) initiated with a Neutral at UBS, tgt $338
- Intuit (INTU) resumed with a Buy at BofA Securities, tgt $400
- Kodiak Gas Services (KGS) initiated with an Overweight at Wells Fargo, tgt $93
- Lamb Weston (LW) initiated with an Equal Weight at Stephens, tgt $46
- Larimar Therapeutics (LRMR) initiated with an Overweight at JPMorgan, tgt $9
- LB Pharmaceuticals (LBRX) initiated with a Buy at Clear Street, tgt $45
- LeonaBio (LONA) initiated with an Overweight at Piper Sandler, tgt $20
- Lithia & Driveway (LAD) initiated with a Buy at UBS, tgt $348
- MapLight Therapeutics (MPLT) initiated with a Buy at UBS, tgt $48
- MaxLinear (MXL) assumed with a Buy at Benchmark, tgt $125
- Penske Automotive (PAG) initiated with a Neutral at UBS, tgt $167
- Pershing Square Inc. (PS) initiated with a Buy at Loop Capital, tgt $49
- Red Cat (RCAT) initiated with a Buy at H.C. Wainwright, tgt $20
- Sonic Automotive (SAH) initiated with a Buy at UBS, tgt $90
- Vertex Pharmaceuticals (VRTX) assumed with a Buy at Truist, tgt $542
- Workday (WDAY) resumed with a Neutral at BofA Securities, tgt $140

Econ Data (Thursday):
- 8:30 ET: April Personal Income (Briefing.com consensus 0.5%; prior 0.6%), Personal Spending (Briefing.com consensus 0.4%; prior 0.9%), PCE Prices (Briefing.com consensus 0.5%; prior 0.7%), Core PCE Prices (Briefing.com consensus 0.3%; prior 0.3%), Q1 GDP -- second estimate (Briefing.com consensus 2.0%; prior 2.0%), Q1 GDP Deflator -- second estimate (Briefing.com consensus 4.5%; prior 3.6%), April Durable Orders (Briefing.com consensus 1.7%; prior 0.8%), Durable Orders ex-transport (Briefing.com consensus 0.5%; prior 0.9%), weekly Initial Claims (Briefing.com consensus 214,000; prior 209,000), and Continuing Claims (prior 1.782 mln)
- 10:00 ET: April New Home Sales (prior 682,000)
- 10:30 ET: Weekly natural gas inventories (prior +101 bcf)
- 12:00 ET: Weekly crude oil inventories (prior -7.863 mln)

Earnings:Monday (May 25)
Pre-Market: None
After-Hours: None
Tuesday (May 26)
Pre-Market: AZO SKY CSW
After-Hours: BOX MOD SMTC SQM ZS
Wednesday (May 27)
Pre-Market: ANF BMO BNS BBWI CPRI DKS DY KC MNRO PDD
After-Hours: A BRZE P HEI HPQ MRVL NCNO NTNX PHR CRM SNOW SNPS

Thursday (May 28)
Pre-Market: ATHM BURL CM DLTR HRL KSS LI PLAB RY TD WB
After-Hours: AMBA AEO ASAN ADSK COST DELL ESTC GAP HQY MDB NTAP OKTA PD S PATH
Friday (May 29)
Pre-market: BKE
After-Hours: None