Earnings Week Wrap: P&G and More Report 24/04/2026

HOT stories for today

Market wrap:

• U.S. stocks reversed from record highs Thursday as Middle East headlines and fresh corporate cost-cutting plans weighed on sentiment, even as investors tried to stay focused on earnings. The S&P 500 and Nasdaq Composite both touched fresh intraday records before closing lower, falling 0.4% and 0.9%, respectively. The Nasdaq posted its worst daily performance in nearly a month, while the Dow Jones Industrial Average lost 180 points, or 0.4%. 
• Software stocks led the pullback, with investors also digesting Meta’s plan to cut 10% of its workforce, or about 8,000 jobs, as it doubles down on artificial intelligence. Nike also announced another 1,400 job cuts, signaling its broader restructuring is still underway. President Donald Trump said Israel and Lebanon had agreed to extend their ceasefire by three weeks, offering some relief but not enough to fully calm markets. Asia-Pacific stocks opened mixed as geopolitical uncertainty lingered. Attention now turns to earnings from Procter & Gamble, Norfolk Southern, Charter Communications and SLB, along with the final April reading of the University of Michigan consumer sentiment index.

Intel Surges as AI Server Demand Fuels Beat

• Intel’s latest earnings report sent shares sharply higher after the chipmaker topped expectations and showed stronger momentum in server CPUs tied to AI workloads. First-quarter revenue rose 7% to $13.6 billion, beating the $12.4 billion consensus, as demand for server chips outpaced supply. The strength helped ease concerns that Intel had missed the AI boom, with inference and agentic AI increasingly relying on CPUs alongside GPUs.Shares jumped nearly 20% in after-hours trading, putting Intel on track for a potentially historic post-earnings move. A strong regular-session gain Friday could mark its best post-results reaction on record and potentially put the stock near a new closing high.
• Margins also improved, with adjusted gross margin rising to 41% from 36.7% in the prior quarter. Intel’s PC business held up better than expected as well, with client-computing revenue rising 1% to $7.7 billion. The company also issued stronger-than-expected guidance for the current quarter, signaling that AI-related server demand may give Intel a more stable revenue base beyond the traditional PC cycle.

Stocks on the move:

• Boyd Gaming (BYD): fell 7% after first-quarter earnings and revenue missed estimates, pressured by softer performance in its Las Vegas business.
• Newmont (NEM): traded near flat despite beating first-quarter earnings and revenue estimates, as the company warned second-quarter results could be hurt by higher oil prices and increased Ghana royalties.
• SAP (SAP): gained 5% after quarterly earnings topped expectations and cloud revenue rose 19%. The company said its 2026 outlook assumes the Middle East conflict de-escalates.
• SLM (SLM): rose 2% after earnings improved from a year earlier and the student-loan provider raised its full-year profit guidance above analyst expectations.

Watchlist: INTC, META, NEM, MSFT, NOW, PG, HCA, COIN, USO

Key Economic Events Today:

EST time

10:00 am: USD Consumer Sentiment
10:00 am: USD Inflation Expectations


Earnings

BMC (Before Market Open): Procter and Gamble (PG), HCA Healthcare (HCA), SLB Limited (SLB), Norfolk Southern (NSC), Nomura Holdings (NMR)



The TEFS Analyst team wishes you a successful day!