WS #6671
The dominant narrative in this window is the wave of after-market earnings reports for Q1 2026, with several notable beats and misses. Fortinet (FTNT) reported strong earnings, dispelling AI disruption fears and sending shares higher. Arm Holdings (ARM) provided upbeat Q1 guidance, with revenue above consensus, while Kratos Defense (KTOS) beat estimates and raised 2026 guidance. On the downside, Whirlpool (WHR) cut FY26 guidance below estimates, and Snap (SNAP) shares traded lower after Q1 results. Geopolitical tensions in the Middle East continue to escalate, with reports of Iranian drone strikes on Erbil, Iraq, and Israeli airstrikes in southern Lebanon. Iran issued a message to commercial vessels in the Strait of Hormuz, adding to oil market disruption. Russia cut mobile internet in Moscow citing drone security concerns. The geopolitical risk is also impacting specific companies: Accuray (ARAY) withdrew its FY26 guidance citing Middle East uncertainty delaying installations. The macro narrative is one of escalating geopolitical risk (Iran/Israel) offset by strong corporate earnings, creating a mixed backdrop for markets.
Key developments
- Fortinet stock rockets as earnings dispel AI disruption fears
- Arm Holdings sees Q1 revenue above consensus, stock soars
- Kratos Defense beats Q1 estimates, raises 2026 guidance
- Iranian drone strikes on Erbil, Iraq; Israeli airstrikes in Lebanon
- Iran issues message to vessels in Strait of Hormuz
- Russia cuts mobile internet in Moscow citing drone security
- Whirlpool cuts FY26 guidance below estimates, shares lower
- Snap shares lower after Q1 results