Boersly Weekly: Markets in Limbo
- May 10
- 31 min read
Updated: May 14
Friday, 9th of May
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What Moved The Market This Week
Earnings season is slowly coming to an end, and this week brought a wave of quarterly reports from major companies. Below is a summary of the most notable results.
Beyond earnings, two key developments shaped market sentiment: the latest Fed meeting and a new U.S. trade agreement with the United Kingdom.
The driving force behind the recent stock market rally is optimism that U.S. President Trump will prove successful as a “dealmaker.” This week, he announced an initial agreement in the ongoing tariff dispute — not with China, but with the UK. While the direct impact of the UK deal is limited, investors see it as a potential signal that further agreements could follow. The real prize would be a resolution with China, and all eyes are now on high-level talks scheduled for the weekend. On Friday, Trump reinforced his stance, saying tariffs of up to 80 percent on Chinese goods were justified.
Market indices ended the week slightly lower:
The Dow Jones Industrial Average fell 0.3 percent to 41,246 points
The S&P 500 slipped 0.1 percent to 5,659
The Nasdaq 100 was flat at 20,076
After a strong rebound in recent weeks, investors appear to be holding their breath ahead of the U.S.-China negotiations. Sentiment around trade has been swinging between hope and concern. Since the escalation, the U.S. has imposed tariffs of up to 145 percent on Chinese imports, with China responding with duties as high as 125 percent on U.S. goods.
In other news, Bitcoin surged past the $100,000 mark once again, recently trading around $102,900.
Reactions to this week’s earnings have ranged from mixed to positive. For now, this remains a buy-and-hold market: those who stay calm and buy into weakness may outperform analysts trying to decode every twist and turn.
Google in the Spotlight This Week
Apple’s Senior Vice President of Services, Eddy Cue (60), made headlines on Wednesday by revealing that the iPhone maker plans to integrate a new AI-powered search feature into its Safari web browser — alongside Google. Following the news, Alphabet shares dropped by around 8 percent, wiping roughly $150 billion off its market capitalisation. It marked the third-largest single-day loss in Alphabet’s history and exceeded the entire market value of companies like Boeing or Comcast.
Cue also disclosed that April saw the first-ever decline in traditional web searches conducted through Safari. He attributed the shift to users increasingly turning to AI tools such as ChatGPT, according to a Bloomberg courtroom report. His statement came during an ongoing antitrust trial brought by the U.S. government against Google.
The broader question of whether AI chat systems like ChatGPT or Perplexity could threaten Google’s dominance in web search has been a topic of growing debate. Despite these concerns, Google continues to report steady growth in its search business — the company’s most important revenue stream.
Cue’s remarks appear to have confirmed investor anxieties, sparking a sell-off in Alphabet shares. Joe Terranova of Virtus Investment Partners referred to Google’s search advertising as its "cash cow" during a segment on CNBC.
That said, I don’t view the outlook for Google ($GOOGL) as particularly negative. The Apple announcement wasn’t exactly unexpected and is likely already priced in. Moreover, Apple’s integration of AI into Safari could face legal challenges, especially under antitrust scrutiny. In the EU, Apple is already being pressured to allow alternatives to the App Store — and if it starts using its platform dominance to restrict third-party access (including Google’s), it risks being viewed as a market-dominant gatekeeper itself.
Looking ahead, Google is expected to deepen the integration of its Gemini AI features into Google Search by the end of the year. Combined with its powerful data ecosystem and a well-diversified business model, this gives the company a strong strategic foundation.
In addition, the partnership between Uber and Waymo (a Google-owned company) appears highly promising, especially in the context of autonomous mobility. By combining Waymo’s advanced self-driving technology with Uber’s extensive ride-hailing network, the collaboration has the potential to significantly improve operational efficiency, reduce costs, and accelerate the mainstream adoption of autonomous transport services.
I’ve been a $GOOGL shareholder since 2011 — and I still am. If the share price drops significantly again, I’ll be looking to increase my position.
Fed Meeting Summary – Powell Sticks to Wait-and-See Approach
The Federal Reserve left interest rates unchanged, keeping the Federal Funds Rate at 4.25–4.5%, as expected. The decision was unanimous, with Kashkari voting in place of Schmid.
Cautious Tone from Powell: Chair Jerome Powell emphasised a "wait-and-see" stance, repeating the word "wait" over 20 times during the press conference. He removed earlier references to possible rate cuts and instead highlighted rising uncertainties, particularly around trade policy.
Economic Outlook & Risks: The U.S. economy remains “solid,” according to Powell, but the Fed acknowledged growing risks — from both higher unemployment and persistent inflation. The dual concern points to potential stagflation. Powell reaffirmed: “Without price stability, the labour market cannot remain strong.”
No Commitment to Cuts: Powell distanced himself from March’s projections of two rate cuts this year. A first cut could come in September, but only if the labour market weakens.
Statement Tweaks: The post-meeting statement noted increased risks of inflation and unemployment. GDP growth is still described as “solid,” though trade fluctuations may be skewing the data.
Bottom Line: The Fed is in no rush to change course. While rate cuts aren’t off the table, the bar for action remains high. A softer labour market could shift the timeline, but for now, the Fed remains firmly in wait-and-watch mode.
Reported Quarterly Earnings This Week
Advanced Micro Devices (AMD)
Key Financial Highlights:
Revenue: $7.44 billion, a 36% increase year-over-year, exceeding the consensus estimate of $7.12 billion.
Adjusted EPS (Non-GAAP): $0.96, up from $0.62 in Q1 2024, beating the consensus estimate of $0.93.
GAAP Net Income: $709 million, or $0.44 per share, compared to $123 million, or $0.07 per share, in the same quarter last year.
Gross Margin: 50% GAAP, 54% non-GAAP.
Segment Performance:
Data Center Revenue: $3.7 billion, up 57% year-over-year, driven by strong demand for EPYC CPUs and Instinct GPUs.
Client Revenue: $2.3 billion, a 68% increase year-over-year, reflecting robust Ryzen processor sales.
Gaming Revenue: $647 million, a 30% decline year-over-year.
Embedded Revenue: $823 million, down from $1.6 billion in Q1 2024.
Outlook and Challenges:
Q2 2025 Revenue Guidance: Projected between $7.1 billion and $7.7 billion, with a midpoint of $7.4 billion, slightly above analyst expectations.
Export Restrictions Impact: AMD anticipates a $1.5 billion revenue impact in 2025 due to new U.S. export restrictions on advanced AI chips to China.
Inventory Charges: The company expects up to $800 million in charges related to inventory and purchase commitments affected by the export restrictions.
Market Reaction:
Despite the strong earnings report, AMD's stock experienced volatility, initially rising in after-hours trading but later declining over 1% as investors weighed the potential impact of export restrictions.
Analysts:
Cantor Fitzgerald analyst C.J. Muse lowered the price target for AMD from $135 to $120, but maintained the "Overweight" rating. Semiconductor stocks have recently outperformed broader markets, but the analyst expects volatility to rise amid potential restrictions on semiconductor exports and increasing "friction" between the US and China. He views semiconductor stocks as long-term "must-own" assets but acknowledges that the sector is at the centre of this major "friction" and will prove to be volatile.
For GlobalFoundries, the price target was reduced from $45 to $40, while the "Neutral" rating was reaffirmed.
Loop Capital – Gary Mobley:
Gary Mobley lowered his price target for AMD from $175 to $140 but maintained a "Buy" rating. He noted that AMD delivered better-than-expected Q1 results. Despite headwinds from export controls, he expects the company’s data center segment to continue growing at a healthy double-digit rate.
Morgan Stanley – Joseph Moore:
Joseph Moore cut the price target from $137 to $121 and kept an "Equal Weight" rating. He called it a “strong quarter” for AMD, driven by strength in the PC client business. The guidance was “impressive,” especially considering a $700 million revenue hit in China due to export restrictions. The double-digit AI growth forecast for the year was better than expected.
Piper Sandler – Harsh Kumar:
Harsh Kumar reduced the price target from $140 to $125 while maintaining an "Overweight" rating. He noted that AMD beat estimates for the March quarter and issued slightly better-than-expected revenue guidance for the June quarter. The company is currently facing short-term headwinds from export controls and expects revenue losses of about $1.5 billion for fiscal 2025.
UBS – Timothy Arcuri:
Timothy Arcuri lowered the price target from $155 to $150 and reaffirmed a "Buy" rating. AMD’s results came in at the high end of expectations, with revenue around 10% above market estimates. This was driven by accelerated market share gains, especially at Intel’s expense in higher-end PC segments. He remains constructive on overall data center investment and AI momentum through 2026.
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Affirm Holding (AFRM)
Q3 2025 Financial Highlights:
Revenue: $782.98 million, surpassing the consensus estimate of $770 million.
Earnings per Share (EPS): Loss of $0.08, better than the expected loss of $0.10.
Gross Merchandise Volume (GMV): $8.1 billion, up from $7.2 billion in the previous quarter.
Adjusted Operating Income: $160 million, compared to $150 million in Q2 2025.
Operational Highlights:
Affirm Card Growth: Active users increased by 120% year-over-year, reaching 2.2 million.
0% APR Loan Volume: Grew by 46%, indicating strong consumer demand for interest-free financing options.
Active Consumers: Totaled 19.5 million, a 20% increase from the prior year.
Market Reaction:
Despite the strong quarterly results, Affirm's stock declined by 13% following the announcement of conservative guidance for the upcoming quarter. The company projected revenue between $815 million and $845 million, slightly below analysts' expectations.
CEO Commentary:
CEO Max Levchin expressed confidence in Affirm's ability to navigate macroeconomic challenges, stating that the company has "all the tools necessary to manage our business effectively in any macroeconomic environment."
Analysts:
BTIG – Analyst Vincent Caintic lowered the price target for Affirm Holdings from $81 to $75 but continues to rate the stock as “Buy.” The company’s first-quarter results missed consensus expectations, and the revenue guidance also disappointed. According to the analyst, the short-term reason for the decline in the RLTC (revenue less transaction costs) margin appears to be related to credit performance and tightening in underwriting.
J.P. Morgan – Analyst Reginald Smith reduced the price target for Affirm Holdings from $74 to $69 and maintains an “Overweight” rating. The company’s gross merchandise volume growth accelerated sequentially, defying broader spending and retail trends, although revenue and gross profit growth came in lower than in previous quarters. The analyst cut the price target to reflect macroeconomic uncertainty.
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Akamai Technologies (AKAM)
Q1 2025 Financial Highlights:
Revenue: $1.015 billion, a 3% increase year-over-year and 4% in constant currency.
Earnings Per Share (EPS): $1.10, missing the consensus estimate of $1.58 by $0.48.
Operational Highlights:
Security and Compute Segments: Experienced strong growth with notable customer acquisitions and industry recognition.
Delivery Revenue: Declined, raising concerns about macroeconomic and geopolitical impacts, as well as declining interest income.
Market Reaction:
Despite the revenue beat, Akamai's stock declined by 22% due to its cautious revenue outlook for 2025.
CEO Commentary:
CEO Tom Leighton highlighted the company's strong performance in security and compute segments but acknowledged challenges in delivery revenue and macroeconomic factors.
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AppLovin (APP)
Q1 2025 Financial Highlights:
Revenue: $1.48 billion, a 40% increase year-over-year, surpassing analyst expectations of $1.38 billion.
Net Income: $576.4 million, or $1.67 per share, compared to $236.2 million, or $0.67 per share, in Q1 2024.
Adjusted EBITDA: $1.01 billion, up 83% year-over-year, with a margin of 68%.
Segment Performance:
Advertising Revenue: $1.16 billion, a 71% increase year-over-year, driven by enhanced performance in the AppDiscovery platform.
Apps Revenue: $325 million, a 14% decline year-over-year, primarily due to decreased in-app purchases and advertising revenue.
Strategic Developments:
Divestiture of Mobile Gaming Division: AppLovin announced the sale of its mobile gaming business to Tripledot Studios for $400 million in cash, retaining a 20% equity stake in Tripledot. The transaction is expected to close in Q2 2025.
Q2 2025 Outlook:
Advertising Revenue Guidance: Projected between $1.195 billion and $1.215 billion, exceeding analysts' expectations of $1.11 billion.
Adjusted EBITDA Guidance: Expected to range from $970 million to $990 million, indicating continued operational efficiency.
Market Reaction:
Following the earnings release, AppLovin's stock surged over 13% in after-hours trading, reflecting investor confidence in the company's robust performance and strategic direction.
Analysts:
BTIG analyst Clark Lampen has raised the price target for AppLovin from $443 to $471 and continues to rate the stock as “Buy.” The company, which focuses on app monetisation, reported Q1 results that significantly exceeded expectations. This downplays the notion that declining spending by advertising clients could limit growth in the next quarter.
Goldman Sachs analyst Eric Sheridan has raised the price target for AppLovin from $335 to $435 and maintains a “Neutral” rating on the stock. In its Q1 earnings report, AppLovin highlighted strong advertising revenue driven by the continued success of its Axon 2.0 platform and early scaling of its push into the e-commerce space. The analyst expects ongoing short-term investor debates about whether the revised outlook is already fully priced into the stock at current levels.
Jefferies analyst James Heaney has raised the price target for AppLovin from $460 to $530 and maintains a “Buy” rating on the stock. Despite a “very impressive” 71% year-over-year growth in advertising revenue, the analyst believes “the fastest growth is still ahead.” AppLovin has reached just 0.1% of its total addressable advertisers, likely fewer than 1,000 web-based advertisers, and the introduction of self-serve tools “unlocks potentially significant growth,” according to Heaney. He views the company’s Q2 revenue growth forecast of about 4 to 5 percent quarter-over-quarter as conservative and likely not reflecting the benefit of self-serve adoption.
J.P. Morgan analyst Cory Carpenter has raised the price target for AppLovin from $270 to $355 and maintains a “Neutral” rating on the stock. The company reported a strong Q1 and issued guidance for Q2 that exceeded expectations. The analyst states that his “Neutral” rating reflects the risk that the stock could underperform in a weaker macroeconomic environment, as AppLovin is active in the e-commerce space and less diversified than larger advertising platforms.
Morgan Stanley analyst Matthew Cost has raised the price target for AppLovin from $350 to $420 and maintains an “Overweight” rating on the stock. The company delivered “strong earnings,” with core gaming ads performing above expectations and non-gaming segments continuing to gain momentum. The analyst has increased his EBITDA estimates for fiscal years 2025 and 2026 by 18% each.
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Arm Holdings (ARM)
Q4 2025 Financial Highlights:
Revenue: $1.24 billion, a 34% increase year-over-year, slightly surpassing analyst expectations of $1.23 billion.
Net Income: $210 million, down 6.7% from the previous year's $224 million.
Adjusted Earnings Per Share (EPS): $0.55, exceeding the consensus estimate of $0.52.
Royalty Revenue: $607 million, up 18% year-over-year, driven by the adoption of the Armv9 architecture and increased chip usage in data centers.
License and Other Revenue: $634 million, a 53% increase, attributed to fluctuations in high-value license agreements and backlog contributions.
Q1 2026 Outlook:
Revenue Guidance: Between $1.0 billion and $1.1 billion, slightly below analysts' expectations.
Adjusted EPS Guidance: $0.30 to $0.38, compared to the anticipated $0.42.
The company attributed the conservative guidance to uncertainties surrounding tariffs and a significant licensing deal that may not close during the quarter. Arm also expressed concerns about indirect impacts on demand due to shifting trade policies.
Market Reaction:
Following the earnings release, Arm's stock declined over 10% in premarket trading, reflecting investor concerns over the company's cautious outlook.
Strategic Insights
Smartphone Market: Despite only a modest increase in smartphone shipments, Arm's royalties from this segment grew by 30%, as higher-end chips utilizing Arm's latest technology commanded larger royalty payments.
Data Center Growth: Arm continues to make inroads in data centers, benefiting from the rise in AI demand and the adoption of its Armv9 architecture.
Customer Impact: Major customer Apple highlighted $900 million in additional supply chain costs due to shifting trade policies, underscoring the broader industry challenges.
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Arista Networks (ANET)
Q1 2025 Financial Highlights:
Revenue: $2.005 billion, a 27.6% increase year-over-year, surpassing analyst estimates of approximately $1.97 billion.
Adjusted EPS: $0.65, up from $0.50 in Q1 2024, exceeding expectations of $0.59.
GAAP Net Income: $813.8 million, or $0.64 per diluted share, compared to $637.7 million, or $0.50 per diluted share, in the same quarter last year.
Non-GAAP Gross Margin: 64.1%, slightly down from 64.2% in Q1 2024.
Operating Cash Flow: $641.7 million, a 24.9% increase year-over-year.
Strategic Highlights:
AI and Cloud Growth: CEO Jayshree Ullal highlighted that AI, cloud, and enterprise customers continue to drive network transformation, contributing to the company's first quarter surpassing $2 billion in revenue.
Product and Service Revenue: Product revenue reached $1.69 billion, while service revenue contributed $312.3 million, underscoring strong demand across offerings.
Stock Repurchase: Arista repurchased $787.1 million of its stock in Q1 2025 and authorized an additional $1.5 billion stock repurchase program.
Outlook:
Q2 2025 Revenue Guidance: Approximately $2.1 billion, slightly above analyst expectations.
Non-GAAP Gross Margin Guidance: Approximately 63%.
Market Reaction:
Despite the strong earnings report, Arista's stock declined about 7% in after-hours trading, possibly due to concerns over tariff uncertainties and valuation.
Analysts:
Piper Sandler analyst James Fish raised the price target for Arista Networks from $76 to $89 but maintained a “Neutral” rating. He noted that the stock had a favourable setup last month, but after a 33% rally, the upside has likely been realised. The stock now faces headwinds due to management simply reaffirming its annual targets, ongoing tariff concerns, and leadership changes at the top. On the positive side, the guidance appears “low risk.”
Citigroup analyst Atif Malik raised the price target for Arista Networks from $92 to $97 and reiterated a “Buy” rating. The company delivered better-than-expected results and confirmed its outlook despite a tough environment. The analyst pointed to continued strength in the enterprise and cloud segments. He believes investor concerns are largely priced in and that the stock offers “offensive opportunity” in the second half of 2025, as it is largely unaffected by AI-related export restrictions and has no exposure to China.
Barclays analyst Tim Long lowered the price target for Arista Networks from $126 to $119 but maintained an “Overweight” rating following the company’s quarterly report. He noted that Arista started the year with strong results and that its guidance for the second quarter was above market expectations. Long considers the implied outlook for the second half of the year to be conservative.
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Berkshire Hathaway (BRK)
Q1 2025 Financial Highlights:
Operating Earnings: $9.64 billion, a 14% decrease from $11.22 billion in Q1 2024.
Net Income: $4.6 billion, down 64% from $12.7 billion the previous year, largely due to $5.04 billion in investment losses, including approximately $7.4 billion in unrealized losses on equity holdings.
Insurance Underwriting Profit: $1.34 billion, a 48.6% decline from $2.60 billion in Q1 2024, impacted by $1.1 billion in losses from Southern California wildfires.
Cash Reserves: Increased to a record $347.7 billion, up from $334.2 billion at the end of 2024, as the company continued to be a net seller of stocks, selling $4.68 billion and buying $3.18 billion during the quarter.
Leadership Transition:
Warren Buffett announced his intention to step down as CEO by the end of 2025, after leading the company for 60 years. Greg Abel, Vice Chairman of Non-Insurance Business Operations, is set to succeed him as CEO. Buffett will remain as Chairman of the Board.
Market Reaction:
Overall, the reaction showed investor caution rather than panic — Berkshire remains a defensive long-term holding, and the market appeared to interpret this quarter as a short-term bump rather than a shift in fundamentals.
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BioNTech (BNTX)
Q1 2025 Financial Highlights:
Revenue: €182.8 million, a slight decrease from €187.6 million in Q1 2024.
Net Loss: €415.8 million, compared to a net loss of €315.1 million in the same period last year.
Loss Per Share: €1.73, up from €1.31 in Q1 2024.
Cash and Investments: €15.85 billion as of March 31, 2025, comprising €10.18 billion in cash and cash equivalents, €3.54 billion in current security investments, and €2.13 billion in non-current security investments.
Strategic Developments:
Oncology Pipeline: BioNTech is advancing its oncology portfolio, focusing on two key pan-tumor programs: BNT327, a bispecific antibody targeting PD-L1 and VEGF-A, and mRNA cancer immunotherapies.
R&D Expenses: €525.6 million, up from €507.5 million in Q1 2024, primarily due to progressing late-stage clinical studies.
CFO Appointment: Ramón Zapata-Gomez, formerly of Novartis, appointed as Chief Financial Officer, effective July 1, 2025, succeeding Jens Holstein.
2025 Outlook:
Revenue Guidance: BioNTech expects total revenues for the 2025 financial year to be between €1.7 billion and €2.2 billion, with revenue phasing similar to 2024, primarily concentrated in the last three to four months.
Strategic Focus: The company plans to continue investing in R&D and scaling the business for late-stage development and commercial readiness in oncology while maintaining cost discipline.
Market Reaction:
Following BioNTech’s Q1 2025 earnings release on May 5, the market reaction was modestly negative.
BioNTech shares (NASDAQ: BNTX) dropped around 2.5% in after-hours trading.
The decline was primarily due to the widening net loss (€415.8 million vs. €315.1 million YoY) and flat revenue, which slightly missed expectations.
While the company reaffirmed its full-year guidance and highlighted strength in its oncology pipeline, investors appeared cautious due to the ongoing transition away from COVID-19 vaccine revenue.
Analysts:
Geoff Meacham, analyst at Citigroup, lowered the price target for BioNTech from $145 to $140 but maintained a "Buy" rating on the stock following the quarterly report. The quarter was “muted” as expected due to seasonal factors. The analyst remains confident in BioNTech and highlights the company’s numerous oncology platforms. He sees the current valuation as “an attractive entry point.”
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Carvana (CVNA)
Q1 2025 Financial Highlights:
Revenue: $4.232 billion, up 38% year-over-year, exceeding the consensus estimate of $3.91 billion.
Net Income: $373 million, marking a 661.2% increase from $49 million in Q1 2024.
Earnings Per Share (EPS): $1.51, beating analyst expectations of $0.75.
Adjusted EBITDA: $488 million, up 117% year-over-year, with a margin of 11.5%.
Retail Units Sold: 133,898 vehicles, a 46% increase from the previous year.
Strategic Developments:
Carvana's CEO, Ernie Garcia, announced an ambitious goal to sell 3 million vehicles annually within the next decade, up from the current 500,000. Achieving this target could potentially translate to $100 billion in revenue and a company valuation of $200 billion.
The company has focused on operational efficiency by reducing marketing and overhead costs, leading to a record-high EBITDA margin. This strategic shift has contributed to Carvana's market capitalization rebound to $60 billion.
Market Reaction:
Following the earnings release, Carvana's stock rose by 3.41% in aftermarket trading, closing at $268.01.
Analysts:
BTIG – Marvin Fong:
Raised the price target from $295 to $330 and maintained a "Buy" rating. He noted that Carvana exceeded expectations across all major volume and margin metrics, delivering 133,900 retail units. Management indicated that the tariff-related surge in activity was only temporary, suggesting another underlying driver of revenue strength.
Citigroup – Ronald Josey:
Increased the price target from $280 to $325 and reiterated a "Buy" rating. He highlighted that Q1 results reflect continued strong demand trends at Carvana. Given the Q2 guidance pointing to sequential growth in unit volume, he believes the retail momentum from Q1 is likely to continue into Q2.
Wells Fargo – David Lantz:
Raised the price target from $290 to $310 and maintained an "Overweight" rating. While tariffs introduce short-term uncertainty, Lantz sees continued upside potential and fundamental improvement in the company’s outlook.
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Cloudflare (NET)
Q1 2025 Financial Highlights:
Revenue: $479.1 million, up 27% year-over-year, surpassing analyst expectations of approximately $469.3 million.
Adjusted EPS: $0.16, aligning with analyst estimates.
GAAP Net Loss: $38.5 million, or $0.11 per share.
Cash Flow: Operating cash flow of $145.8 million and free cash flow of $52.9 million.
Strategic Highlights:
Record-Breaking Contracts: Secured the largest contract in company history—a deal exceeding $100 million—driven by the Workers developer platform.
Investor's Business Daily
SASE Momentum: Signed the longest-term Secure Access Service Edge (SASE) contract to date, indicating growing enterprise adoption.
AI Integration: Continued strategic partnerships with AI leaders like OpenAI and Anthropic, positioning Cloudflare as a key player in AI infrastructure.
Outlook:
Q2 2025 Guidance: Revenue projected between $500 million and $501 million; adjusted EPS expected at $0.18.
Full-Year 2025 Guidance: Revenue forecasted between $2.09 billion and $2.094 billion; adjusted EPS anticipated between $0.79 and $0.80.
Market Reaction:
Following the earnings release, Cloudflare's stock surged over 9%, reflecting investor confidence in the company's growth trajectory and strategic initiatives.
Analysts:
Guggenheim – Analyst John DiFucci raised the price target for Cloudflare from $68 to $70, but maintains a “Sell” rating on the cybersecurity company’s stock. While he acknowledges Cloudflare as “an exciting company that could deliver hyper-distributed cloud computing as it was always intended,” DiFucci adds that strong growth would need to materialise for the stock to grow into its valuation.
Jefferies – Analyst Joseph Gallo lowered the price target for Cloudflare from $170 to $150 and continues to rate the stock as “Hold.” Cloudflare beat revenue expectations, while the revenue guidance for 2025 was maintained.
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Coinbase (COIN)
Key Financial Highlights:
Revenue: $2.03 billion (24% YoY increase)
Adjusted EPS: $1.94 (missed by $0.24)
Transaction Revenue: $1.26 billion (17.3% increase)
Subscription and Services Revenue: $698 million (9% increase)
Operating Expenses: $1.3 billion (51% increase), driven by higher marketing costs and crypto asset losses
Strategic Developments:
Coinbase announced a $2.9 billion acquisition of Deribit, a crypto options exchange, aiming to strengthen its position in the derivatives market.
The company reported a 49% quarter-over-quarter increase in USDC balances, indicating strong user activity.
Market Reaction:
Following the earnings release, Coinbase's stock declined by approximately 3% in after-hours trading. This drop was attributed to the revenue miss and cautious guidance for Q2 2025, with projected subscription and services revenue between $600 million and $680 million, below analysts' expectations of $704 million.
Analysts:
J.P. Morgan – Analyst Kenneth Worthington lowered the price target for Coinbase from $276 to $215, but maintained a “Neutral” rating. He said that a more challenging environment had “plagued” the company’s Q1 results and that Q2 was off to a slow start. Results came in below expectations as trading shifted more toward institutional clients with lower fees, and commissions were under pressure due to discounts in derivatives. The analyst notes that the tougher transaction environment “takes a big chunk” out of his earnings forecasts.
Piper Sandler – Analyst Patrick Moley raised the price target for Coinbase from $180 to $190 and maintained a “Neutral” rating. He observed that the company reported revenue in line with expectations and adjusted EPS above his estimate. Coinbase also announced its planned acquisition of global crypto derivatives exchange Deribit. While Moley believes the acquisition has the potential to significantly expand both the derivatives business and global footprint of Coinbase, he notes that Deribit does not currently offer derivative products that are regulatory-compliant in the U.S.
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Fortinet (FTNT)
Q1 2025 Financial Highlights:
Revenue: $1.54 billion, a 14% increase year-over-year, exceeding the consensus estimate of $1.538 billion.
Earnings Per Share (EPS): $0.58 (non-GAAP), surpassing the expected $0.53.
Net Income: $452.3 million, up 44.8% from $299.3 million in Q1 2024.
Product Revenue: $459.1 million, an increase of 12.3% year-over-year.
Service Revenue: $1.08 billion, up 14.4% year-over-year.
Operating Margins: Record non-GAAP operating margin of 34.2%, up from 28.5% in the previous year.
Free Cash Flow: $782.8 million, representing a 51% margin.
Q2 2025 and Full-Year Outlook:
Q2 Revenue Guidance: $1.59–$1.65 billion, slightly below the consensus estimate of $1.628 billion.
Q2 EPS Guidance: $0.58–$0.60 (non-GAAP).
Full-Year Revenue Guidance: $6.65–$6.85 billion.
Full-Year EPS Guidance: $2.43–$2.49 (non-GAAP).
Strategic Growth Areas:
Fortinet continues to invest in high-growth areas:
Unified SASE: Annual Recurring Revenue (ARR) grew 26% year-over-year.
Security Operations: ARR increased by 30% year-over-year.
These segments now represent a significant portion of Fortinet's business, reflecting the company's strategic focus on integrated security solutions.
Market Reaction:
Despite the strong earnings report, Fortinet's stock declined by approximately 12% in after-hours trading, closing at $93.95.
Analysts:
Bernstein – Peter Weed:
Lowered the price target from $111 to $94 and maintained a "Market Perform" rating. Weed noted that Fortinet’s Q1 results were in line with consensus, which may disappoint given the company’s recent streak of better-than-expected quarters. While Q4 was particularly strong and such growth may not be sustainable, he pointed to signs of weakness in Q1 that made it harder for management to convey confidence going forward.
KeyBanc – Eric Heath:
Reduced the price target from $120 to $115 but kept an "Overweight" rating. Heath called it a mixed quarter, with total revenue, product revenue, billings, and margins all exceeding expectations, while service revenue fell short. He also noted that Fortinet is maintaining its guidance for Q2.
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Hims & Hers Health (HIMS)
Q1 2025 Financial Highlights:
Revenue: $586.0 million, a 111% increase year-over-year, surpassing analyst expectations of $535.2 million.
Earnings Per Share (EPS): $0.20, exceeding the consensus estimate of $0.12.
Net Income: $49.5 million, up from $11.1 million in Q1 2024.
Adjusted EBITDA: $91.1 million, reflecting a margin of approximately 15.5%.
Subscriber Growth: 2.4 million subscribers, a 38% increase year-over-year.
Monthly Online Revenue per Subscriber: $84, up 53% from the previous year.
Outlook:
Q2 2025 Guidance: Revenue projected between $530 million and $550 million, slightly below analyst expectations of $564.3 million.
Full-Year 2025 Guidance: Revenue between $2.3 billion and $2.4 billion; Adjusted EBITDA between $295 million and $335 million.
2030 Targets: Revenue of at least $6.5 billion and Adjusted EBITDA of at least $1.3 billion.
Strategic Developments:
Product Portfolio Adjustment: The company plans to discontinue compounded semaglutide offerings, aligning with FDA guidelines.
Executive Appointments: Nader Kabbani, former Amazon executive, appointed as Chief Operations Officer; Mo Elshenawy appointed as Chief Technology Officer to lead AI initiatives.
Market Reaction:
Following the earnings release, HIMS stock experienced significant volatility, initially dipping due to the conservative Q2 guidance but rebounding strongly, closing up 18.1% on May 6, 2025.
Analysts:
Citigroup analyst Daniel Grosslight raised the price target for Hims & Hers Health from $25 to $30 but maintained a “Sell” rating. He described the recent results as “a bit like a Rorschach test,” with bulls likely to highlight the significant outperformance this quarter, as a GLP-1-driven revenue boost offset net subscriber growth that came in slightly below consensus. Bears, on the other hand, may argue that the “uninspiring” Q2 guidance puts pressure on the second half to deliver revenue growth, while margins are expected to decline. Citi positions itself “somewhere in the middle.”
Piper Sandler analyst Korinne Wolfmeyer raised her price target for Hims & Hers Health from $35 to $39 and maintained a “Neutral” rating on the stock. She noted that investor reaction to the results suggests a need for more clarity before feeling confident in the stock, even though the Q1 report appeared solid. Notably, management reaffirmed its full-year revenue guidance despite a strong Q1 and a new partnership with Wegovy. The company also presented an ambitious long-term roadmap, which she views as a challenging “show-me story.” Still, margins are improving significantly, and Hims & Hers continues to outperform peers financially.
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Palantir (PLTR)
Q1 2025 Financial Highlights:
Revenue: $884 million, a 39% increase year-over-year, surpassing analyst expectations of approximately $864 million.
Adjusted EPS: $0.13, in line with analyst estimates.
GAAP Net Income: $214 million, representing a 24% margin.
Adjusted Operating Income: $391 million, with a 44% margin.
Free Cash Flow: $370 million, up 149% year-over-year.
Segment Performance:
U.S. Revenue: $628 million, a 55% increase year-over-year.
U.S. Commercial Revenue: $255 million, up 71% year-over-year, surpassing a $1 billion annual run rate.
U.S. Government Revenue: $373 million, a 45% increase year-over-year.
Customer Count: Grew 39% year-over-year and 8% quarter-over-quarter.
Updated Guidance:
Q2 2025 Revenue: Projected between $934 million and $938 million.
Full-Year 2025 Revenue: Raised to a range of $3.89 billion to $3.90 billion, up from the previous guidance of $3.74 billion to $3.76 billion.
U.S. Commercial Revenue Growth: Expected to exceed 68% year-over-year.
Adjusted Free Cash Flow: Anticipated between $1.6 billion and $1.8 billion for the full year.
Market Reaction:
Despite the strong financial results and raised guidance, Palantir's stock declined by approximately 9% following the earnings release. Analysts attribute this to concerns over the company's high valuation and a slowdown in international commercial revenue growth.
Analysts:
Mizuho analyst Gregg Moskowitz raised the price target for Palantir from $80 to $94 but maintained an “Underperform” rating. He acknowledged that the company had a “very good quarter,” with revenue growing 39% year-over-year, beating market expectations. Growth was especially strong in the U.S. government segment. While Palantir raised its full-year 2025 guidance more significantly than the consensus-beating results would suggest, Moskowitz cautioned that valuation still matters. He finds it “very difficult” to justify the stock’s “very high multiple,” which he believes already prices in substantial growth acceleration and upside beyond consensus expectations.
Wedbush analyst Daniel Ives raised his price target for Palantir from $120 to $140 and reiterated an “Outperform” rating. He noted that Palantir exceeded expectations across the board and raised its 2025 outlook again, as it continues to benefit from strong demand for AI. Ives highlighted a growing “moat” in Palantir’s Artificial Intelligence Platform, and said the company is gaining momentum, especially in Europe, following a new NATO partnership. The price target increase reflects Wedbush’s growing confidence in Palantir’s growth story. Ives believes Palantir could reach a $1 trillion market cap within the next three years and sees it playing a central role in the AI revolution.
Citigroup analyst Tyler Radke raised the price target for Palantir from $110 to $115 and maintained a "Neutral" rating. He noted that Palantir delivered metrics well above expectations in Q1, which is typically a slower quarter for software companies. Given the challenging and uncertain market environment, Palantir’s strong results further reinforce its momentum in the AI space. However, Citigroup still views the stock as "priced beyond perfection".
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Pinterest (PINS)
Key Financial Results:
Revenue: $855 million, a 16% year-over-year increase, surpassing analyst expectations of approximately $846 million.
Adjusted EPS: $0.23, slightly below the consensus estimate of $0.25.
GAAP EPS: $0.01, marking a return to profitability compared to a loss in the same quarter last year.
Adjusted EBITDA: $172 million, up 36% year-over-year, with margins improving to 20%.
User Growth & Engagement:
Monthly Active Users (MAUs): 570 million globally, a 10% increase year-over-year, exceeding analyst expectations.
International Expansion: Europe saw a 24% revenue increase, while the Rest of World (RoW) surged 49%, highlighting successful international monetization strategies.
Strategic Highlights:
Gen Z Engagement: CEO Bill Ready emphasized that Gen Z users are increasingly using Pinterest for shopping, driven by AI-enhanced personalization and visual search capabilities.
AI Integration: The platform's AI tools are helping advertisers identify emerging trends, enhancing ad performance and user engagement.
Resilience Amid Tariffs: Despite global trade tensions, Pinterest has largely evaded negative tariff effects due to advertisers reallocating spending and increased geographic diversification.
Outlook:
Q2 2025 Revenue Guidance: Pinterest projects revenue between $960 million and $980 million, surpassing Wall Street's average estimate of $966.3 million.
Adjusted EBITDA Guidance: For Q2, the company anticipates adjusted EBITDA between $217 million and $237 million.
Market Reaction:
Following the earnings release, Pinterest's stock surged over 12% in premarket trading, reflecting investor confidence in the company's growth trajectory and strategic initiatives.
Analysts:
Guggenheim – Analyst Michael Morris lowered the price target for Pinterest from $40 to $39 but maintains a “Buy” rating. Consolidated revenue, operating income, and user engagement exceeded market estimates in the first quarter, while guidance for the second quarter was largely in line with previous forecasts. The reduced price target reflects slightly lower short-term earnings estimates.
Citigroup – Analyst Ronald Josey raised the price target for Pinterest from $38 to $41 and continues to rate the stock as “Buy.” With a 10 percent year-over-year increase in monthly active users, strong momentum in advertising revenue, and a 310-basis-point margin expansion compared to the previous year, Pinterest’s Q1 results, in the analyst’s view, underscore that the company is capturing a greater share of “durable, always-on, performance-oriented ad budgets across industries” through its investments in artificial intelligence and ad products. The analyst believes the company’s revenue momentum should lead to higher EBITDA.
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Shopify (SHOP)
Q1 2025 Financial Highlights:
Revenue: $2.36 billion, a 27% increase year-over-year, slightly surpassing analyst expectations.
Gross Merchandise Volume (GMV): $74.75 billion, up 23% year-over-year but approximately $150 million below consensus estimates.
Net Loss: $682 million, or $0.53 per share, primarily due to over $900 million in losses on equity investments.
Adjusted EPS: $0.25, slightly below the consensus estimate of $0.26.
Operating Income: $203 million, doubling from the previous year but still under analyst expectations.
Q2 2025 Outlook:
Revenue Growth: Projected at mid-twenties percentage year-over-year, exceeding analysts’ average estimate of 22.4%.
Gross Profit Growth: Expected to grow at a high-teen percentage rate, slightly below the 20.2% rise forecasted by analysts.
Operating Expenses: Anticipated to be between 39% and 40% of revenue.
Strategic Initiatives:
In response to global trade uncertainties, Shopify introduced several tools to assist merchants:
Tariffguide.ai: An AI-driven website providing guidance on U.S. tariff rates based on product descriptions and origin.
Expanded Duties-Collection Tool: Previously exclusive to Advanced Shopify or Shopify Plus users, now available to all merchants, enabling them to display and collect duties at checkout. The transaction fee was reduced significantly.
Shop App Filter: Allows users to shop for locally made goods.
Enhanced Shipping Options: Including prepaid labels and delivery duty-paid shipping.
Partnerships: Expanded collaborations with third-party logistics providers through the Shopify Fulfillment Network and improved its managed markets product by enabling merchants to designate Global-e as the merchant of record.
CFO Jeff Hoffmeister noted that cross-border commerce accounted for 15% of the company's GMV in the quarter, with only about 1% involving Chinese imports subject to the de minimis exemption.
Market Reaction:
Following the earnings release, Shopify's stock declined over 5% in premarket trading, reflecting investor concerns over the company's profitability and outlook.
Analysts:
Jefferies analyst Samad Samana lowered the price target for Shopify from $130 to $110 and maintained a "Hold" rating on the e-commerce software company’s stock. The analyst believes that the momentum from 2024 continued into Q1 and therefore expects the results to beat consensus. However, the impact of tariffs remains uncertain. In addition, the removal of the de minimis rule (which exempts shipments under $800 from duties) makes it difficult to trust that the recent momentum is sustainable.
J.P. Morgan analyst Reginald Smith lowered the price target for Shopify from $124 to $115 but maintained an “Overweight” rating. The company’s Q1 results were “generally solid.” The analyst noted that Shopify’s quarterly spending and merchant trends remain stable despite tariff uncertainty. He estimates that dropshipping from China accounts for less than 1 percent of gross merchandise volume, which increases confidence that the tariffs will impact Shopify’s business less than initially feared.
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Takeda Pharmaceuticals (TAK)
Financial Highlights:
Revenue: $7.34 billion, falling short of the consensus estimate of $8.02 billion.
Earnings Per Share (EPS): $0.16, missing the expected $0.24 by $0.08.
Year-over-Year Revenue Growth: Not specified in the available sources.
Operational Highlights:
Growth & Launch Products: These products experienced a 17.8% increase at constant exchange rates (CER), now representing 46% of total revenue.
Core Operating Profit Margin: Stood at 31.6%, benefiting from phased R&D investments, reduced operating expenses, and lower-than-anticipated generic erosion of key products.
Currency Impact: The depreciation of the yen against major currencies provided an additional revenue tailwind of ¥127.2 billion, resulting in a 14.1% growth on an actual FX basis.
Strategic Developments:
Product Pipeline: Takeda is advancing its late-stage pipeline, with significant progress in programs such as zasocitinib (TYK2 inhibitor) and TAK-861 (orexin 2 receptor agonist), both poised for near-term Phase III readouts.
Collaborations: The company signed option agreements for mid- and late-stage programs, including olverembatinib for chronic myeloid leukemia and ACI-24.060 for Alzheimer's disease.
Operational Efficiency: Takeda is implementing a multiyear efficiency program targeting organizational agility, procurement savings, and leveraging data, digital, and technology to improve core operating profit margin.
Outlook:
Fiscal Year 2025 Guidance: Takeda expects revenue to rise 2.0% to ¥4.350 trillion and net profit to fall 60% to ¥58.00 billion.
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The Walt Disney Company (DIS)
Key Financial Highlights:
Revenue: $23.62 billion, a 7% increase year-over-year, exceeding the consensus estimate of $23.15 billion.
Net Income: $3.2 billion, or $1.81 per share, compared to a loss of $20 million, or $0.01 per share, in the same quarter the previous year.
Adjusted EPS: $1.45, a 20% increase from $1.21 in Q2 2024, beating analyst expectations of $1.21.
Segment Operating Income: $4.4 billion, a 15% rise year-over-year.
Outlook:
Fiscal Year 2025 Adjusted EPS Guidance: Disney raised its adjusted EPS outlook to $5.75, representing a 16% increase from fiscal 2024, up from its previous high-single-digit forecast.
Streaming Profitability: The company projects over $1 billion in operating income from its DTC segment for FY 2025.
Strategic Initiatives:
International Expansion: Disney announced plans to open a new theme park in Abu Dhabi, marking its first in the Middle East, as part of a broader $60 billion investment in its Experiences division.
Content Production: The company is increasing its production of original content outside the United States to strengthen its global streaming operations.
Market Reaction:
Following the earnings report, Disney's stock rose over 10% in premarket trading, reflecting investor optimism about the company's strong performance and strategic direction.
Analysts:
Barclays analyst Kannan Venkateshwar has raised the price target for Walt Disney from $115 to $120 and maintains an “Overweight” rating on the stock after better-than-expected quarterly results. While macroeconomic headwinds remain a concern, the analyst believes Disney’s recent quarters and outlook for the rest of the year provide “more confidence in an operational turnaround.”
Loop Capital analyst Alan Gould has raised the price target for Walt Disney from $120 to $125 and maintains a “Buy” rating on the stock. Despite concerns over a weakening economy and intensified competition, Disney has guided for significantly better-than-expected EPS for the current quarter. Additionally, the company plans to open its seventh overall theme park resort, this time in Abu Dhabi — marking its first in the Middle East.
Morgan Stanley analyst Benjamin Swinburne has raised the price target for Walt Disney from $110 to $120 and maintains an “Overweight” rating on the stock. Revenue growth was driven by domestic parks and ESPN, while Disney+ increased its subscriber base. Although macroeconomic uncertainty remains a headwind, the analyst believes an EPS forecast above $7 could push the stock toward his bull case of $155. He does not expect a recession and therefore anticipates Disney will exceed its original forecast from last November.
UBS analyst John Hodulik has raised the price target for Walt Disney from $105 to $120 and maintains a “Buy” rating on the stock. Disney reported solid Q2 results, driven by stronger performance in Experiences, improvements in Direct-to-Consumer, and resilient profits in linear TV. Although the macroeconomic environment remains dynamic, management has so far indicated only minimal impact, and park bookings for the second half of the year are solidly ahead of last year’s levels.
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Uber Technologies (UBER)
Key Financial Highlights:
Earnings per Share (EPS): $0.83, surpassing the consensus estimate of $0.50.
Revenue: $11.53 billion, a 14% increase year-over-year, but slightly below the expected $11.62 billion.
Gross Bookings: $42.8 billion, up 14% year-over-year, yet falling short of the $43.1 billion forecast.
Net Income: $1.78 billion, a significant turnaround from a $654 million loss in Q1 2024.
Adjusted EBITDA: $1.9 billion, a 35% increase year-over-year.
Free Cash Flow: $2.3 billion, demonstrating robust cash generation.
Segment Performance:
Mobility: Gross bookings rose to $21.2 billion, a 13% year-over-year increase.
Delivery: Gross bookings reached $20.4 billion, up 15% year-over-year.
Freight: Experienced a 2% decline in gross bookings, totaling $1.3 billion.
Operational Metrics:
Trips: 3.0 billion, an 18% increase year-over-year.
Monthly Active Platform Consumers (MAPCs): 170 million, up 14% year-over-year.
Outlook for Q2 2025:
Gross Bookings: Projected between $45.75 billion and $47.25 billion, representing 16% to 20% year-over-year growth on a constant currency basis.
Adjusted EBITDA: Expected to range from $2.02 billion to $2.12 billion, reflecting 29% to 35% year-over-year growth.
Strategic Initiatives:
Uber is actively expanding into suburban markets, where 20% of mobility trips now originate, aiming to tap into new customer segments. The company is also investing in autonomous vehicle technology, announcing five new partnerships in the past week, including collaborations with Waymo and Pony.ai.
Market Reaction:
Despite the strong earnings, Uber's stock declined approximately 2.5% following the report, attributed to the slight revenue miss and concerns over growth momentum.
Analysts:
Bank of America analyst Justin Post raised the price target for Uber from $95 to $96 and maintained a "Buy" rating on the ride-hailing specialist’s stock. Ahead of the upcoming Q1 earnings release, the analyst increased his estimates for bookings, revenue, and EBITDA to $43.5 billion, $11.73 billion, and $1.89 billion respectively — all above consensus forecasts. Additionally, positive commentary is expected regarding the launch of the Waymo partnership in Austin.
Barclays – Analyst Ross Sandler raised the price target for Uber from $86 to $97 and continues to rate the ride-hailing specialist’s stock as “Overweight.” The company delivered results and forecasts that were largely in line with expectations. The analyst says that the company is delivering solid performance in a volatile macroeconomic environment. The stock is likely to hold up better than the rest of the internet consumer sector due to Uber’s recession-resistant model.
Bank of America – Analyst Justin Post raised the price target for Uber from $96 to $97 and maintained a “Buy” rating after the company reported a Q1 result that, in the analyst’s view, was “mostly in line.” For the year 2025, he lowered his estimate for gross bookings by 1 percent to $188.5 billion. The revenue estimate drops by 1 percent to $50.7 billion, while the EBITDA estimate remains largely unchanged at $8.53 billion. The analyst continues to view Uber as his “top pick” in the Travel/Online Services sector and increased his price target due to a slightly higher free cash flow estimate for 2026.
Wedbush – Analyst Scott Devitt downgraded Uber from “Outperform” to “Neutral,” while raising the price target from $80 to $85. The company reported “mixed” Q1 results with “healthy forecasts” for Q2. The analyst points out that Uber’s stock has gained significantly in value over the past year. However, the scale of earnings gains has noticeably declined as the company’s performance has met investor expectations. At Wedbush, they believe that the company is now well understood and that there is a lack of clear near-term catalysts, which will limit expectations and slow further stock price increases.
Wells Fargo – Analyst Ken Gawrelski raised the price target for Uber from $90 to $100 and continues to rate the stock as “Overweight.” He notes that Mobility GB growth ex-FX slowed by 4 points. There are signs of potential macroeconomic effects on demand. The analyst says that the stock is attractive as a defensive asset with positive growth characteristics.
What's Coming Up Next Week
Markets are heading into the weekend with a cautious sense of optimism as top-level trade negotiations between the U.S. and China are set to resume. While President Trump maintained a hard line on tariffs earlier in the week, recent reports suggest a softening stance, with discussions around reducing tariffs from 145 percent to potentially 80 or even 50 percent. India is also making conciliatory moves, offering to cut its average tariff gap with the U.S. from nearly 13 percent to below 4 percent — possibly prompting Trump to delay further punitive measures.
Key Economic Data in the Spotlight
Beyond trade developments, investors will be watching a series of important economic indicators for signs of inflation trends and consumer resilience:
Tuesday (pre-market): April Consumer Price Index (CPI)
Forecasts point to little change in both headline and core inflation compared to the previous month and year — which could support a dovish outlook from the Fed.
Thursday: April Producer Price Index (PPI) and Retail Sales
These figures will offer a deeper look into inflation pressures and consumer demand as the economy navigates trade tensions.
Friday: Preliminary University of Michigan Consumer Sentiment Index for May
A key gauge of consumer confidence that could signal spending strength heading into the summer.
Here’s an overview of key earnings reports scheduled for the week of May 12–16, 2025:
Monday, May 12
Hertz (HTZ) – Reports after market close.
Simon Property Group (SPG) – Reports after market close.
Tuesday, May 13
CyberArk Software (CYBR) – Expected to report before market open.
Sea Limited (SE) – Expected to report before market open.
Karman – Expected to report after market close.
Wednesday, May 14
Cisco Systems (CSCO) – Reports after market close.
CoreWeave – First earnings report post-IPO, expected after market close.
Thursday, May 15
Applied Materials (AMAT) – Reports after market close.
Deere & Company (DE) – Reports before market open.
Walmart (WMT) – Reports before market open.
Friday, May 16
University of Michigan Consumer Sentiment Index – Preliminary data for May released.
Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. It does not consider your personal objectives, financial situation, or needs. You should consider whether the information is appropriate for your circumstances and seek professional advice before making any investment decisions. Investing in stocks carries inherent risks, and the application of any strategy may not eliminate the risk of loss. Market conditions, volatility, and unforeseen events can impact outcomes, and past performance is not indicative of future results.
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