Dow Hits New High as Earnings Season Heats Up

U.S. stock futures were little changed on Tuesday following another day of gains that pushed major indexes near record highs.

The Dow Jones Industrial Average hit a fresh all-time high, rising 0.04%, while the S&P 500 gained about 0.48% and the Nasdaq Composite climbed 0.77%.

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Major Indexes: S&P 500 flat, Nasdaq flat, Dow flat, Russell 2000 flat

Leading Sectors: Utilities, Energy, Consumer Discretionary

Lagging Sectors: Financial, Consumer Staples

Upwork (UPWK): The online freelance marketplace reported a decline in active clients and issued current-quarter revenue and earnings guidance below analyst estimates. Shares tumbled in premarket trading.

S&P Global (SPGI): The company reported fourth-quarter adjusted earnings that missed expectations and issued 2026 earnings guidance well below analyst estimates. The stock fell sharply in premarket trading.

Ferrari (RACE): The luxury Italian carmaker reported fourth-quarter earnings and revenue that beat expectations and delivered full-year 2026 guidance in line with analyst estimates. U.S. shares jumped in premarket trading.

Datadog (DDOG): The enterprise software maker reported fourth-quarter revenue up 29% and earnings that beat expectations, while highlighting strong large-customer growth and launching new AI-driven products. The company also issued first-quarter and full-year 2026 guidance. The stock rose in premarket trading.

Taiwan Semiconductor Manufacturing (TSM): The semiconductor foundry reported its highest monthly revenue ever, with January revenue jumping 37% compared to the same period last year. The stock rose in premarket trading.

Coca-Cola (KO): The beverage giant reported fourth-quarter revenue that missed expectations and forecasted modest growth for the full year. Adjusted earnings of 58 cents per share topped estimates by 2 cents. The stock fell in premarket trading.

Spotify (SPOT): The streaming platform reported fourth-quarter earnings, user growth, and margins that beat expectations under its new co-CEOs. The company added more premium subscribers than expected and issued first-quarter 2026 guidance with operating income ahead of estimates. Shares jumped in premarket trading.

CVS Health (CVS): The retail pharmacy chain reported fourth-quarter earnings and revenue that beat expectations, but maintained 2026 revenue guidance below analyst forecasts and lowered its cash flow outlook. The stock slipped in premarket trading.

Chegg (CHGG): The online tutoring company reported fourth-quarter adjusted EBITDA that fell sharply from the prior year period, while revenue declined 49% year over year. The stock dropped in premarket trading.

Goodyear Tire & Rubber (GT): The company reported fourth-quarter results with sales of $4.9 billion and adjusted earnings of 39 cents per share, but posted a full-year net loss driven by large non-cash charges. The stock fell in premarket trading.

Credo Technology (CRDO): The company announced ahead of its earnings that it would significantly raise its third-quarter fiscal 2026 revenue guidance, now expecting revenue well above its prior target. The stock jumped in premarket trading.

Oscar Health (OSCR): The health insurer disclosed a full-year 2025 net loss and a wider fourth-quarter net loss on higher medical costs, but issued 2026 revenue guidance with positive operating earnings expected. The company also executed a new revolving credit facility. The stock rose in premarket trading.

Ichor Holdings (ICHR): The semiconductor equipment company posted fourth-quarter and full-year revenue with a net loss, but said the cyclical trough has passed and issued guidance pointing to sequential growth and margin recovery throughout 2026. The stock jumped in premarket trading.

Nektar Therapeutics (NKTR): The biotech company announced positive Phase 2b maintenance data for its atopic dermatitis treatment, with durable efficacy and safety supporting rapid advancement into Phase 3 trials. The stock rose in premarket trading.

Gilat Satellite Networks (GILT): The satellite company reported fourth-quarter revenue and record full-year adjusted EBITDA, and issued 2026 guidance implying double-digit growth. The stock fell in premarket trading.

Harley-Davidson (HOG): The motorcycle manufacturer reported weak fourth-quarter and full-year results, including a quarterly loss, and issued its 2026 financial outlook. The company also announced a director is stepping down from the board. The stock fell in premarket trading.

Amentum (AMTM): The company reported fourth-quarter results with earnings that beat expectations but revenue that missed estimates, and reaffirmed its full-year 2026 guidance. The stock fell in premarket trading.

DuPont De Nemours (DD): The company reported fourth-quarter earnings that beat analyst expectations, posting adjusted earnings of 46 cents per share versus the 43 cents expected. DuPont also issued upbeat full-year guidance. Shares gained in premarket trading.

ON Semiconductor (ON): The semiconductor supplier reported fourth-quarter revenue that missed expectations as sales declined in its two biggest businesses. Adjusted earnings of 64 cents per share beat the forecast. The stock dropped in premarket trading.

Silvercorp Metals (SVM): The company posted mixed quarterly results, with third-quarter fiscal 2026 adjusted net income and operating cash flow performing well, while fourth-quarter fiscal 2025 earnings missed estimates despite revenue beating expectations. The stock fell in premarket trading.

Fiserv (FISV): The company reported fourth-quarter results with flat organic revenue and a sharp drop in adjusted earnings, and issued 2026 guidance for modest organic revenue growth. The stock fell in premarket trading.

Marriott International (MAR): The hotel chain posted fourth-quarter adjusted earnings that missed expectations but revenue slightly topped forecasts, and issued earnings guidance for first-quarter and full-year 2026. The company reported worldwide revenue per available room up modestly. The stock rose in premarket trading.

Hasbro (HAS): The toymaker posted strong fourth-quarter and full-year results, issued 2026 guidance, authorized a new $1 billion share repurchase program, and declared a quarterly dividend. The company also announced a multi-year global licensing partnership to become the primary toy licensee for the Harry Potter universe starting in 2027. The stock rose in premarket trading.

Incyte (INCY): The biotech company posted fourth-quarter revenue that topped estimates, but adjusted earnings missed expectations. Total revenue rose significantly for both the quarter and full year, and the company issued 2026 net product revenue guidance. The stock fell in premarket trading.

Amkor (AMKR): The company beat fourth-quarter expectations with earnings of 69 cents per share on revenue of $1.89 billion, outlined aggressive AI packaging expansion with significant capital expenditures planned, and issued first-quarter 2026 guidance. The stock dipped slightly in premarket trading.

(Stocks showing elevated volume and notable price movement)

Gainers: AXTI, AMKR, ROIV, NVST, MMM, LUV, SYY

Losers: HUBS, PAR, PINS, MNDY, FIG

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.