Futures Slip as Walmart Disappoints and Iran Tensions Rise

Stock futures fell on Thursday, giving back some of Wednesday's gains. A weak outlook from Walmart and rising tensions between the US and Iran weighed on sentiment, while oil prices continued to climb.

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

Leading Sectors: Energy, Industrial

Lagging Sectors: Technology, Financial, Consumer Discretionary, Consumer Staples, Materials, Real Estate, Health Care

Walmart (WMT): The retail giant reported better-than-expected fourth-quarter earnings and revenue, but its full-year outlook disappointed investors. Walmart forecast annual sales growth of 3.5% to 4.5% and earnings per share of $2.75 to $2.85, falling short of the $2.96 analysts had expected. Shares fell on the guidance miss.

Hims & Hers Health (HIMS): The telehealth company announced it will acquire Australian digital health firm Eucalyptus in a deal worth up to $1.15 billion. Shares rose on the acquisition news.

Deere (DE): The farm equipment maker posted a strong earnings beat, reporting first-quarter earnings of $2.42 per share on $8 billion in revenue, well ahead of analyst expectations of $2.05 per share on $7.69 billion in revenue. Shares climbed on the results.

DoorDash (DASH): The food delivery platform reported fourth-quarter total orders up 32% and revenue up 38% compared to a year ago, though both figures narrowly missed analyst estimates. Shares rallied despite the slight miss.

Etsy (ETSY): The e-commerce marketplace reported mixed fourth-quarter results, with earnings beating expectations but revenue falling slightly short. Etsy also announced it will sell its Depop fashion resale platform to eBay for $1.2 billion in cash. Shares surged on the deal news.

Figma (FIG): The design software company reported strong fourth-quarter results, beating analyst estimates on both earnings and revenue. Revenue grew 40% year over year. Shares jumped on the earnings beat and better-than-expected quarterly guidance.

Carvana (CVNA): The online used car retailer reported fourth-quarter adjusted EBITDA of $511 million, below the $539 million analysts had expected. Shares fell on the earnings disappointment.

Molson Coors Beverage (TAP): The brewer issued a weak full-year forecast, warning that earnings per share could fall between 11% and 15%, far below analyst expectations of a roughly 2% gain. Management cited commodity inflation as a significant headwind for 2026. Shares dropped on the outlook.

Occidental Petroleum (OXY): The oil and gas producer beat fourth-quarter expectations, reporting adjusted earnings of 31 cents per share against the 17 cents analysts had forecast, helped by strong oil production. Shares rose on the results.

Cheesecake Factory (CAKE): The restaurant chain reported disappointing fourth-quarter same-store sales, which fell 2.2% versus the 1.2% decline analysts had expected. The company also announced an expanded share buyback and an 11% dividend increase. Shares fell despite the shareholder-friendly moves.

Six Flags Entertainment (FUN): The amusement park operator reported fourth-quarter revenue and adjusted EBITDA above analyst expectations, though its per-share loss was wider than forecast. Shares gained on the revenue and EBITDA beat.

Chewy (CHWY): The online pet retailer received an upgrade from Raymond James to outperform, with analysts noting that the stock's recent sharp decline has created an attractive buying opportunity. Shares edged higher on the upgrade.

Avis Budget Group (CAR): The car rental company reported a disappointing fourth quarter, with adjusted EBITDA of just $5 million against analyst expectations of nearly $146 million. Revenue also came in below forecasts. Shares fell sharply on the results.

Wayfair (W): The online furniture retailer reported fourth-quarter earnings and revenue that beat analyst expectations, and posted its first annual sales increase since 2020. Despite the positive results, shares declined.

eBay (EBAY): The e-commerce platform reported strong fourth-quarter results, with earnings up 13% and revenue up 15% year over year. eBay also raised its dividend, announced plans to repurchase around $2 billion in shares, and acquired the Depop fashion resale platform from Etsy for $1.2 billion. Shares rose in premarket trading on the results and deal news.

Lemonade (LMND): The insurance technology company reported a smaller-than-expected quarterly loss in its fourth-quarter earnings, with revenue also beating estimates. The company issued full-year guidance of approximately $1.19 billion in revenue. Shares jumped in premarket trading on the results.

Klarna (KLAR): The buy-now-pay-later company reported its first-ever billion-dollar revenue quarter, with fourth-quarter revenue up 38% year over year driven by accelerating U.S. growth. Despite the strong results, shares fell sharply in premarket trading.

Remitly Global (RELY): The digital payments company reported record fourth-quarter results, with revenue up 26% year over year and its first full year of GAAP profitability. The company also appointed a new CEO. Shares surged in premarket trading on the results.

Kinetik Holdings (KNTK): The Financial Times reported that the Permian Basin pipeline operator is preparing a formal sale process after receiving an approach from Western Midstream Partners, which is backed by Occidental Petroleum. No formal bid has been made yet, but the company plans to run an auction open to strategic and infrastructure buyers. Shares rose in premarket trading on the acquisition speculation.

EPAM Systems (EPAM): The technology services company reported fourth-quarter earnings of $3.26 per share, beating analyst expectations of $3.16 per share and up from $2.84 a year ago. The company also issued 2026 full-year and first-quarter guidance. Shares jumped in premarket trading on the results.

(Stocks showing elevated volume and notable price movement)

Gainers: NCLH, ACHC

Losers: ZG

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.