Tech Leads Rebound as Earnings Movers Drive Action Across Sectors

Stocks continued to recover Wednesday, led by technology companies, as investors waited for Nvidia’s (NVDA) earnings report to see if the chipmaker can once again lead the artificial intelligence rally.

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

Leading Sectors: Industrial, Materials, Technology, Energy, Financial, Communication Services

Lagging Sectors: Consumer Staples, Health Care

GoDaddy (GDDY): The domain and website services company gave weaker than expected full year revenue guidance in its earnings report, citing slower adoption of its AI tools. GoDaddy forecast revenue below Wall Street estimates, which weighed on the stock.

First Solar (FSLR): The solar panel maker posted fourth quarter earnings that missed estimates and gave full year revenue guidance that came in well below expectations. Revenue for the quarter topped forecasts, but weak profit and outlook guidance pressured the stock.

Cava Group (CAVA): The Mediterranean restaurant chain reported stronger than expected fourth quarter earnings and revenue and issued upbeat fiscal 2026 guidance. The company also topped $1 billion in annual revenue for the first time.

Workday (WDAY): The enterprise software company reported earnings and gave first quarter subscription revenue guidance that came in slightly below expectations. It also provided weaker than expected operating margin guidance for the quarter, which weighed on shares.

Axon Enterprise (AXON): The public safety technology company reported fourth quarter earnings and revenue that beat estimates and issued stronger than expected 2026 revenue growth guidance.

Marqeta (MQ): The payments technology company issued full year revenue growth guidance that fell short of Wall Street expectations, dampening investor sentiment.

MercadoLibre (MELI): The e-commerce company reported fourth quarter earnings that missed estimates, although revenue for the quarter came in above expectations.

Par Pacific Holdings (PARR): The energy company posted fourth quarter adjusted earnings that missed estimates, though revenue came in ahead of expectations.

Everus Construction Group (ECG): The construction services provider reported fourth quarter earnings and revenue that significantly exceeded Wall Street estimates.

HP Inc. (HPQ): The personal computer and printer maker reported quarterly earnings and revenue that beat expectations, but lowered its outlook for the full year due to rising memory chip costs.

Diageo (DEO): The spirits maker reported earnings that missed expectations and issued soft guidance, pointing to weaker demand in North America and China and forecasting a decline in organic sales in 2026.

Circle (CRCL): The stablecoin issuer reported fourth quarter results that beat expectations, driven by strong adoption of its dollar pegged token. The company also highlighted significant growth in USDC tokens in circulation.

Driven Brands Holdings (DRVN): The automotive services company said it will delay its fiscal 2025 financial results and restate prior financial statements due to material errors, raising concerns about its financial reporting.

Camping World (CWH): The RV retailer reported a wider than expected quarterly loss, although revenue beat estimates. The company also paused its regular dividend.

Ionis Pharmaceuticals (IONS): The biotechnology company reported a larger than expected quarterly loss, though revenue came in above Wall Street forecasts.

Lowe’s (LOW): The home improvement retailer reported fourth quarter earnings and revenue that beat expectations, but issued weaker than expected long term profit guidance through January 2027. The softer outlook overshadowed the quarterly beat.

Lucid Group (LCID): The electric vehicle maker reported a wider than expected quarterly loss despite revenue that topped forecasts. The company also recently announced job cuts in the U.S.

International Business Machines (IBM): UBS upgraded the technology company to neutral from sell, saying the stock’s risk and reward profile is now more balanced despite potential disruption from artificial intelligence.

TJX Companies (TJX): The off price retailer reported fourth quarter results that beat expectations, issued full year earnings guidance, raised its dividend, and announced a new share buyback program.

(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.