After Hours Report

Updated: 11-May-26 17:29 ET
AST SpaceMobile and Hims & Hers Health under pressure after earnings

The stock market had a somewhat choppy start to the week, with mixed strength in the broader market weighing against another session of semiconductor leadership. The S&P 500 (+0.2%), Nasdaq Composite (+0.2%), and DJIA (+0.1%) finished modestly higher, though it was enough to secure record highs for the S&P 500 and Nasdaq Composite.

The PHLX Semiconductor started the week with a 2.3% gain, helping the top-weighted information technology sector (+0.8%) secure a higher finish. Lumentum (LITE 1053.09, +149.29, +16.52%) was the best-performing S&P 500 component after headlines that the stock will join the Nasdaq 100 Index next Monday, May 18, while Coherent (COHR 379.69, +44.43, +13.25%) and Qualcomm (QCOM 237.53, +18.44, +8.42%) advanced after Bloomberg reported executives from both companies were invited to President Trump's China trip later this week.

Memory names also posted impressive gains, and NVIDIA (NVDA 219.44, +4.24, +1.97%) was a "magnificent seven" standout amid a mostly lower session for the group. Tesla (TSLA 445.08, +16.73, +3.91%) was another notable exception to this trend, limiting broad losses in the consumer discretionary sector (-0.6%).

Electronic production equipment names such as Vertiv (VRT 367.92, +27.95, +8.22%) also traded higher as investors increasingly view the AI-buildout cycle as a catalyst for the group, helping the industrials sector (+1.0%) notch a solid gain today.

The materials sector (+1.4%) was another top mover as chemical and precious metal companies outperformed, while the energy sector (+2.6%) captured the widest gain amid an increase in oil prices.

President Trump lamented Iran's response to the latest U.S. peace proposal as "totally unacceptable", later telling reporters that the ceasefire with Iran is now on "massive life support." Crude oil futures settled today's session $2.68 higher (+2.8%) at $98.07 per barrel.

Five S&P 500 sectors traded lower today, though the losses were relatively modest. Only the communication services sector (-2.3%) finished with a loss of 1.0% or wider, facing pressure across multiple notable components. Alphabet (GOOG 386.77, -10.28, -2.59%) was a mega-cap laggard, while Netflix (NFLX 85.45, -2.04, -2.33%) moved lower after the Texas Attorney General filed a suit against the company, and The Trade Desk (TTD 21.52, -1.56, -6.76%) faced pressure after HSBC downgraded the stock to Reduce from Hold.

Meanwhile, Fox (FOX 61.18, +4.58, +8.09%) outperformed after topping earnings estimates.

This week is notably lighter on the earnings front, with only 11 S&P 500 companies set to report results. While earnings growth has largely exceeded expectations and provided the market with a major tailwind, focus could shift back towards geopolitical volatility and energy prices, especially given tomorrow's release of the April CPI report (Briefing.com consensus 0.6%). Despite the relatively subdued finish, continued semiconductor leadership and resilience at the index level kept the broader uptrend intact.

U.S. Treasuries started the week on a lower note with the belly leading a Monday slide that lifted yields back to levels from last Tuesday. The U.S. Treasury kicked off this week's note auction slate with a weak sale of $58 bln in 3-year notes ahead of tomorrow's $42 bln 10-year note auction. The 2-year note yield settled up six basis points to 3.95%, and the 10-year note yield settled up five basis points to 4.41%.

  • Russell 2000: +15.7% YTD
  • Nasdaq Composite: +13.1% YTD
  • S&P Mid Cap 400: +11.6% YTD
  • S&P 500: +8.3% YTD
  • DJIA: +3.4% YTD

Reviewing today's data:

  • April Existing Home Sales 4.02 mln (Briefing.com consensus 4.05 mln); Prior was revised to 4.01 mln from 3.98 mln
    • The key takeaway from the report is that affordability conditions improved, with mortgage rates lower than a year ago and average income gains exceeding home price gains, yet overall sales activity remained tepid. The exact reason why is hard to pinpoint. A range of factors could be pertinent, from tight supply and not being able to find the right home to a bet that mortgage rates will come down more or to fraying confidence in job security.

Overseas:

  • Europe: DAX +0.1%, FTSE +0.4%, CAC -0.7%
  • Asia: Nikkei -0.5%, Hang Seng +0.1%, Shanghai +1.1%

Commodities:

  • Crude Oil +2.68 @ 98.07
  • Nat Gas +0.15 @ 2.91
  • Gold -2.50 @ 4727.70
  • Silver +5.12 @ 86.01
  • Copper +0.16 @ 6.46

After-Hours Spotlight:

  • Aecom Tech (ACM) beats by $0.04, reports revs in-line; guides FY26 EPS in-line...ACM +1.1%
  • Alignment Healthcare (ALHC) set to join S&P SmallCap 600...ALHC +4.9%
  • Archer Aviation (ACHR) beats by $0.03, misses on revs...ACHR +1.2%
  • AST SpaceMobile (ASTS) reports Q1 results, misses on revs; provides business update...ASTS -10.3%
  • Hims & Hers Health (HIMS) reports Q1 (Mar) results, misses on revs; guides Q2 revs above consensus; guides FY26 revs above consensus...HIMS -9.8%
  • Life360 (LIF) beats by $0.03, beats on revs; guides FY26 revs in-line...LIF -0.7%
  • Plug Power (PLUG) misses by $0.08, beats on revs...PLUG +5.4%
  • Ramaco Resources (METC) beats by $0.06, misses on revs...METC -7.1%
  • Rigetti Computing (RGTI) reports EPS in-line, beats on revs...RGTI -1.6%
  • WEBTOON Entertainment (WBTN) beats by $0.17, reports revs in-line; guides Q2 revs below consensus...WBTN -11.4%
  • ZoomInfo (GTM) beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs below consensus; reaffirms FY26 EPS guidance, guides FY26 revs below consensus...GTM -26.6%

Fair Value for Tuesday, May 11:

  • S&P 500: 7,436
  • Nasdaq 100: 29,429
  • DJIA: 49,787
Today's News Summary:

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

  • Earnings/Guidance (Full Earnings Calendar):
    • ARKO Petroleum Corp. (APC) beats by $0.03, beats on revs; Reaffirms FY26 adjusted EBITDA and Discretionary Cash Flow guidance
    • Barrick Mining (B) beats by $0.17, beats on revs
    • Certara (CERT) misses by $0.02, reports revs in-line; guides FY26 EPS below consensus, revs below consensus
    • Ceva (CEVA) beats by $0.02, beats on revs
    • Circle Internet Group (CRCL) beats by $0.02, misses on revs
    • Constellation Energy (CEG) beats by $0.20, beats on revs; reaffirms FY26 EPS guidance
    • Dole plc (DOLE) misses by $0.01, beats on revs
    • eXp World Holdings (AGNT) beats by $0.02, beats on revs; guides Q2 revs in-line; guides FY26 revs in-line
    • FS KKR Capital (FSK) reports Q1 (Mar) results
    • Janus Henderson Group (JHG) misses by $0.06, beats on revs
    • Kodiak Gas Services (KGS) beats by $0.06, beats on revs; raises outlook
    • Liquidia Technologies (LQDA) beats by $0.11, beats on revs
    • Monday.com (MNDY) beats by $0.22, beats on revs; guides Q2 revs in-line; guides FY26 revs above consensus
    • Mosaic (MOS) misses by $0.19, beats on revs
    • ORIX Corporation (IX) reports FY results
    • RadNet (RDNT) misses by $0.12, beats on revs; raises outlook
    • Sally Beauty (SBH) beats by $0.03, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; reaffirms FY26 EPS guidance, guides FY26 revs in-line
    • Seadrill Ltd (SDRL) beats by $0.17, beats on revs; raises FY26 revs in-line
    • United Parks & Resorts Inc. (PRKS) misses by $0.34, reports revs in-line
  • General News
    • President Trump says Iran’s peace proposal is “totally unacceptable”
    • Iran's peace proposal left some gaps between both sides on the nuclear program. WSJ
    • 40 countries will meet today to discuss a mission to escort ships through the Strait of Hormuz. Bloomberg
    • Israeli Prime Minister Benjamin Netanyahu says war in Iran is not over until enriched uranium is removed from Iran. CBS News
    • President Trump and Chinese President Xi to discuss Iran, trade, artificial intelligence, and Taiwan at a summit this week. NY Times
    • Energy Secretary Chris Wright says the White House is open to suspending the gas tax. NBC News
    • American and French passengers on the Hondius cruise ship tested positive for hantavirus. Bloomberg
    • Republicans' chances of keeping the House are increasing following court rulings and redistricting, but Democrats are still confident heading into the midterms. Axios
    • The Senate Banking Committee will hold a vote Thursday on a bill that would create a regulatory framework for cryptocurrency. Reuters
    • Trump Administration considering FDA Deputy Commissioner Kyle Diamantas as acting commissioner, according to Reuters
    • House will remove provision from housing bill that requires rental homes built by large investors to be sold after seven years. Politico
    • Alpha Tau (DRTS) announced interim data from its U.S. trial of Alpha DaRT for patients with recurrent glioblastoma trial
    • Alvotech (ALVO) reports FDA completed Reykjavik facility inspection
    • Americold Realty Trust (COLD): Glass Lewis Joins Egan-Jones in recommending shareholders vote against Chairman Mark Patterson at Americold’s Annual Meeting
    • argenx (ARGX) Announces U.S. FDA Approval Expanding VYVGART and VYVGART Hytrulo for Use in All Adult Patients Living with gMG
    • ASP Isotopes (ASPI) unit signs MOU targeting future HALEU fuel supply partnership
    • Bank of Nova Scotia's (BNS) Scotia Wealth Management enters an arrangement with SBI Canada Bank to offer wealth management services to SBI Canada's high-net-worth clients
    • Barrick Mining (B) announces that its Board of Directors has authorized the repurchase of up to $3.0 billion of the Company’s outstanding common shares at prevailing market prices
    • Blackstone (BX) executives put up capital to support private credit fund. Bloomberg
    • Bridger Aerospace Group (BAER) receives two separate 160-day task orders from the US Forest Service, each for two of its CL-415EAF “Super Scooper” aircraft
    • CAE (CAE) is pursuing strategic alternatives for Flightscape as part of its ongoing portfolio optimization
    • Cameco (CCJ) temporarily halts Key Lake production amid Saskatchewan flooding disruptions
    • Caris Life Sciences (CAI) announces that it has submitted an application to the New York State Department of Health Clinical Laboratory Evaluation Program, administered through the Wadsworth Center, seeking authorization to perform Caris Assure on specimens originating from New York State
    • Carnival Cruise Lines (CCL): 100 passengers of the Caribbean Princess cruise ship got infected with norovirus. NBC News
    • Circle Internet Group (CRCL) launches AI infrastructure to power the Agentic economy
    • Fortress Investment Group (FIG) co-founder Wesley Edens was allegedly extorted by a sexual partner. WSJ
    • Frontier (ULCC) is adding capacity at several airports. Bloomberg
    • Genmab (GMAB): Partner Therapeutics announces FDA approval of BIZENGRI (Zenocutuzumab-zbco) for NRG1 fusion-positive cholangiocarcinoma following receipt of FDA Commissioner's National Priority Voucher
    • GlaxoSmithKline (GSK) launches final tranche of £2 bln share buyback program
    • GlaxoSmithKline (GSK) partners with Sino Biopharmaceutical unit to support China launch of bepirovirsen
    • Hycroft Mining (HYMC) appoints Diane Garrett executive chairman while retaining CEO role
    • Invivyd (IVVD) announces that a preprint of original research regarding COVID monoclonal antibody and vaccine systemic reactogenicity is now available on MedRxiv and is titled “Safety first: should the high tolerability of intramuscular anti-spike COVID-19 monoclonal antibody change our expectations of vaccine safety?”
    • Marriott (MAR) increases quarterly cash dividend to $0.73/share from $0.67/share
    • MBX Biosciences (MBX) announces multiple updates on its obesity portfolio
    • Microsoft (MSFT) data center in Africa delayed by disagreements with the Kenyan government, according to Bloomberg
    • Middleby (MIDD) announced that its Food Processing business will operate under the name Midera Food Processing, Inc. (Midera)
    • Netflix (NFLX): President Trump in an interview says NFL is "price gouging” fans by putting games on streaming platforms like NFLX and Amazon (AMZN), according to NY Post
    • NVIDIA (NVDA) names former Vice Chairman of Goldman Sachs Suzanne Nora Johnson to its board, effective July 13
    • OptimizeRx (OPRX) announces launch of a new programmatic connection point between its proprietary EHR network and DSPs
    • Palantir (PLTR): Investors are concerned Palantir is ceding business to AI models. WSJ
    • Pfizer (PFE): U.S. Health Dept explores potential ban on specific class of antidepressant, SSRI's, such as Zoloft (PFE), Prozac (LLY), and Lexapro (ABBV), according to Reuters
    • Pitney Bowes (PBI): Hestia Capital Mgmt distributes 1.5 mln shares to limited partners; CEO Kurt Wolf intends to retain large personal stake in PBI
    • Resideo (REZI) provided an update on its planned spin-off of its ADI Global Distribution business
    • Rio Tinto (RIO) signs 30-year renewable power agreement tied to Pilbara operations
    • Robinhood Markets (HOOD) determined that CTO Jeffrey Pinner would be separating from his position
    • SailPoint (SAIL) detected unauthorized access to a subset of its GitHub repositories
    • SailPoint (SAIL) announces SailPoint Agentic Fabric, a new solution aimed at one of enterprise security’s fastest-growing challenges: securing AI agents and other non-human identities at scale
    • SolarEdge Technologies (SEDG) announces the appointment of Mr. Maoz Sigron as the Company’s new Chief Financial Officer, effective May 31, 2026
    • United Therapeutics (UTHR) presents new data from TETON-1, advance outcomes, and additional research in pulmonary hypertension and pulmonary fibrosis at ATS 2026
    • VEON (VEON) shareholders re-elect board and chairman, reaffirming confidence in digital growth strategy
    • Walt Disney (DIS): ABC accused the Trump administration of violating its first amendment rights. NY Times
    • Wheaton Precious Metals (WPM) shareholders elect directors and approve leadership transition
    • Zai Lab (ZLAB) receives U.S. FDA fast track designation for zocilurtatug pelitecan, a DLL3-targeting ADC, for treatment of extrapulmonary neuroendocrine carcinomas
  • Upgrades:
    • News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie, tgt $29.40
    • Pitney Bowes (PBI) upgraded to Neutral from Underperform at BofA Securities, tgt $16.50
    • Primoris (PRIM) upgraded to Outperform from Neutral at Mizuho, tgt $135
    • StandardAero (SARO) upgraded to Buy from Neutral at UBS, tgt $34
    • Starz Entertainment (STRZ) upgraded to Outperform from Neutral at Robert W. Baird, tgt $30
  • Downgrades:
    • Array Digital (AD) downgraded to Market Perform from Outperform at Raymond James
    • Carlyle (CG) downgraded to Sector Perform from Outperform at RBC Capital, tgt $58
    • CNH Industrial (CNH) downgraded to Neutral from Buy at Goldman, tgt $10.50
    • Dell Technologies (DELL) downgraded to Neutral from Buy at UBS, tgt $243
    • Goodyear Tire (GT) downgraded to Hold from Buy at Deutsche Bank, tgt $7
    • Healthpeak Properties (DOC) downgraded to In Line from Outperform at Evercore ISI, tgt $21
    • HubSpot (HUBS) downgraded to Neutral from Outperform at BNP Paribas Exane, tgt $210
    • HubSpot (HUBS) downgraded to Neutral from Outperform at Macquarie, tgt $190
    • Stellantis (STLA) downgraded to Underperform from Neutral at BofA Securities
    • Telephone and Data (TDS) downgraded to Market Perform at Raymond James
    • The Trade Desk (TTD) downgraded to Reduce from Hold at HSBC, tgt $20
    • Wendy's (WEN) downgraded to Underweight from Neutral at JPMorgan, tgt $6
  • Others:
    • Arxis (ARXS) initiated with a Buy at Citigroup, tgt $42
    • Arxis (ARXS) initiated with a Buy at Goldman, tgt $53
    • Arxis (ARXS) initiated with a Buy at Jefferies, tgt $42
    • Arxis (ARXS) initiated with a Buy at Melius Research, tgt $45
    • Arxis (ARXS) initiated with a Buy at Rothschild & Co Redburn, tgt $40
    • Arxis (ARXS) initiated with an Outperform at Robert W. Baird, tgt $55
    • Arxis (ARXS) initiated with an Outperform at William Blair
    • Arxis (ARXS) initiated with an Outperform at Wolfe Research, tgt $43
    • Arxis (ARXS) initiated with an Overweight at Morgan Stanley, tgt $44
    • Arxis (ARXS) initiated with an Overweight at Wells Fargo, tgt $42
    • Arxis (ARXS) initiated with a Sector Perform at RBC Capital, tgt $39
    • Bicara Therapeutics (BCAX) initiated with a Buy at Guggenheim, tgt $42
    • BioMarin (BMRN) reinstated with a Neutral at Goldman, tgt $69
    • BridgeBio Oncology (BBOT) initiated with a Buy at Canaccord, tgt $23
    • Coherus Oncology (CHRS) initiated with a Buy at Guggenheim, tgt $12
    • Enhanced Group (ENHA) initiated with a Buy at Lucid Capital, tgt $15
    • Klarna (KLAR) initiated with a Hold at TD Cowen, tgt $16
    • Live Oak Acquisition V (LOKV) initiated with a Buy at Compass Point, tgt $13.50
    • Madison Air (MAIR) initiated with a Buy at BofA Securities, tgt $47
    • Madison Air (MAIR) initiated with a Buy at Citigroup, tgt $49
    • Madison Air (MAIR) initiated with a Buy at Stifel, tgt $47
    • Madison Air (MAIR) initiated with a Neutral at Goldman, tgt $44
    • Madison Air (MAIR) initiated with an Outperform at Robert W. Baird, tgt $48
    • Madison Air (MAIR) initiated with an Outperform at RBC Capital, tgt $48
    • Madison Air (MAIR) initiated with an Overweight at Barclays, tgt $45
    • Madison Air (MAIR) initiated with an Overweight at Wells Fargo, tgt $47
    • Madison Air (MAIR) initiated with a Peer Perform at Wolfe Research
    • Oklo (OKLO) initiated with a Neutral at JPMorgan, tgt $83
  • Econ Data (Tuesday):
    • 6:00 ET April NFIB Small Business Optimism (Briefing.com consensus 96.1; prior 95.8)
    • 8:30 ET: April CPI (Briefing.com consensus 0.6%; prior 0.9%) and Core CPI (Briefing.com consensus 0.4%; prior 0.2%)
    • 14:00 ET: April Treasury Budget (Briefing.com consensus $202.5 bln; prior -$164.1 bln)
  • Earnings:
    • Monday (May 11)
      • Pre-Market: APC B CERT CEVA CRCL CEG DOLE NVRI AGNT FOXA FSK LQDA MNDY MOS NESR SBH SDRL PRKS UNIT
      • After-Hours: ACM AMTM ASTS CDRE CLSK FIGR HALO HLIT HLIO HIMS KGS MARA NOVT OVV PLUG METC RGTI SPG STE WBTN GTM
      Tuesday (May 12)
      • Pre-Market: ARMK ARVN BETA BRSL CAMT CDNL IMOS QBTS DCO ETOR AG JBI TIGO ONON Q RAL SFL TME UAA VG VSTS ZBRA
      • After-Hours: ANDG ATRO BGS FNV JBS KRMN LIF NXT OKLO REZI
    • Wednesday (May 13)
      • Pre-Market: BABA BIRK DT GLBE KRNT EYE TSEM VSH WIX
      • After-Hours: ARX BTGO CSWC CSCO CPA DOCS EQPT GO JACK MFC PBH STAA STUB TNK
    • Thursday (May 14)
      • Pre-Market: AVAH BTDR BLSH GOOS CSIQ CLBT CRMD FPS KLAR LGN NIQ NVMI VSNT VIK WWW YETI
      • After-Hours: AMAT DLO FIG GLOB HTFL KLC RUM YSS
    • Friday (May 15)
      • Pre-market: RBC
      • After-Hours: None
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