When Beats Can't Save The Tape
Presented by
CLOSING BELL
Happy Thursday
The market fell Thursday, stocks retreating after breaking records in the morning. The day crept onward into a risk-off session, despite some heavy beats during one of the busiest reporting weeks so far.
It is after all the 69th day of the Iran war, and Shell CEO Wael Sawn told investors the oil market is down to the tune of 1 billion barrels of oil. Every single day it gets worse, though Terahn is reportedly considering yet another ceasefire deal from the U.S. Thursday.
The consumer is flinching with it. Whirlpool tanked 11% on recession-level sentiment, used car prices stayed pinned at 2023 levels even as gas surged, and Michael Burry doubled his bearish NVDA bet by likening the AI trade to a dot-com replay.
Tech held across the board, consumer discretionary flew with the climb in Tesla as the EV giant broke through $400/share on SpaceX hype. The green also came from cybersecurity, where Fortinet’s blowout sent the stock +20% and dragged Zscaler +10% and CrowdStrike +8% along with it. Pet pharma got smoked at the other end as Zoetis cratered 22% and Insmed tanked 24%.
Friday’s nonfarm payrolls and unemployment print at 8:30 AM ET gets to call the next move.
Today’s Briefing:
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After the Bell: Block ripped 9.8% on a beat-and-raise, Coinbase was hit by El Niño, CoreWeave’s $99.4B backlog wrestled with widening losses, and DraftKings cleared EBITDA but whiffed on users
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Before the Bell: McDonald’s beat then warned the consumer is getting worse on gas-pump pain
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Deal News: GameStop’s $56B eBay bid hit a credit wall after Moody’s tagged the deal “credit negative” and Iren saw a $2.1B Nvidia investment
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Pops and Drops & More
AFTER THE BELL
AI, Betting, and Crypto Giants Report Beats, but What Does the Market Think?
Backlog Booms, Costs Bite ☁️ : CoreWeave’s first full quarter as a public AI cloud bet doubled the top line and built a near-$100B customer backlog. The stock swung between gains and losses in Thursday’s after-hours tape as costs scaled faster than revenue.
The RIP: $CRWV ( ▼ 6.62% ) posted a Q1 net loss of $1.40 per share on revenue of $2.08B, topping the $1.97B FactSet estimate with the top line more than doubling year over year. Adjusted EBITDA of $1.16B narrowly beat the $1.14B Street mark. Revenue backlog stood at $99.4B at quarter end.☁️ Dive into more on Stocktwits →
DraftKings Tops It, Holds the Guide 🎲 DraftKings beat the Street on revenue and EBITDA after Thursday’s close as CEO Jason Robins kept the full-year guide intact and pointed at the predictions push as the next leg. Shares ticked higher in extended trade after a strong regular session.
The RIP: $DKNG ( ▲ 5.44% ) posted Q1 revenue of $1.65B, up 17% year over year, with adjusted EBITDA of $167.9M, beating the $163M consensus and last year’s $102.6M. Monthly unique paying customers fell 4% to 4.2M, missing the 4.6M Street estimate. Average revenue per MUP rose 2% to $131. 🎲
Block Cracks One Open 🍺 Block, the fintech behind Cash App and Square, ripped 9.8% in after-hours trade on a beat-and-raise that handed bulls exactly the script they wanted.
The RIP: $XYZ ( ▼ 0.97% ) landed $0.85 adjusted EPS on $2.91B in gross profit, both well past the Street’s $0.68 and $2.80B marks. Block lifted full-year 2026 gross profit to $12.33B from $12.20B and called for Q2 gross profit of $3.04B with $740M in adjusted operating income. 💳 Read more and argue about the release →
Crypto El Niño Bites 🌊 Coinbase caught the same crypto-trading downdraft that mauled Robinhood last week, swinging to a surprise Q1 loss after Thursday’s close. Shares slipped in extended trade as Wall Street recalibrated to a soft-volumes quarter.
The RIP: $COIN ( ▼ 2.53% ) posted a Q1 net loss of $1.49 per share versus the $0.06 EPS gain analysts expected, with revenue of $1.4B coming up short of the $1.49B FactSet consensus. Trading volume was projected near $222.9B, down from $271B in Q4 and $393B in Q1 2025.
The “Crypto El Niño” label Mizuho’s Dan Dolev floated this week landed clean: after Robinhood’s crypto revenue fell 47% last quarter, Coinbase confirmed the slowdown. Holders should watch stablecoin revenue and the 14% headcount cut Brian Armstrong announced Tuesday. 🌊 Brave the waters on Stocktwits →
SPONSORED BY VIRTUIX
Virtuix ($VTIX) Is Pursuing Strategic Acquisitions in the Defense Market
Virtuix Inc. (NASDAQ: VTIX) is accelerating its defense expansion, forming a special committee to pursue acquisitions in the military training sector.
The company is targeting deals that can unlock faster revenue growth, expand access to major government contracts, and strengthen its position across U.S. military branches.
Management noted it believes acquisitions could be highly accretive to shareholders, given VTIX’s current revenue multiple.
$VTIX is gaining momentum:
• M&A Catalyst: Designed to accelerate revenue growth
• Growing Pipeline: Already collaborating with U.S. Army, Air Force, Navy, and Marine Corps
• Dual-Use Strategy: Consumer + defense growth drivers
With defense emerging as a key vertical, Virtuix is positioning for accelerated expansion.
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
BEFORE THE BELL NEWS
Big Mac Beats, Then Warns 🍔
McDonald’s topped Q1 estimates on the back of customers spending more per visit, but CEO Chris Kempczinski’s read on the consumer — “not improving, and it may be getting a little bit worse” — peeled an early premarket rally back to roughly flat.
The RIP: $MCD ( ▼ 0.14% ) posted $2.83 adjusted EPS on $6.52B revenue, both above the $2.74 and $6.47B Street marks. Same-store sales climbed 3.8% globally, with U.S. comps up 3.9% driven by check, not traffic. Internationally operated markets matched at +3.9%; licensed development grew 3.4% with Japan leading the pack.
Kempczinski flagged elevated gas prices tied to the U.S.-Iran conflict as a fresh weight on low-income diners, echoing the soft-March commentary already out of Domino’s and Chipotle. CFO Ian Borden warned Q2 will decelerate as the chain laps last year’s Minecraft Happy Meal hype, with the new Big Arch burger and upcoming Super Mario Galaxy and KPop Demon Hunters tie-ins now carrying the freight. 🍟
DEAL NEWS
GameStop’s eBay Math 🎮
GameStop’s $56B run at eBay landed Monday with a $20B TD Securities backstop and a clean-balance-sheet pitch from Ryan Cohen. Moody’s took one look at the leverage and called the whole thing credit negative.
$GME ( ▼ 4.77% ) carries an $11B market cap into a deal priced near $56B, with TD’s financing letter conditioned on the merged company holding investment grade. Moody’s pegged pro forma leverage near 9x debt-to-EBITDA before any synergies.
The number Cohen left out of the pitch is sitting in the T-bill account →
TRENDING ON STOCKTWITS
Pops & Drops
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$FTNT ( ▲ 20.03% ) Fortinet: ripped +20% after Q1 EPS crushed consensus by 32%, billings up +31%
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$ZS ( ▲ 10.06% ) Zscaler ⚡: jumped +10% on cybersecurity sector tailwinds from Fortinet’s blowout
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$ARM ( ▼ 10.11% ) Arm Holdings: tumbled -10% after supply constraints on new AGI CPU chip spooked investors
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$TPR ( ▼ 12.3% ) Tapestry: fell -12% after fiscal Q3 beat; Kate Spade decline and weak margin guidance disappointed
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$ZTS ( ▼ 21.5% ) Zoetis: cratered -22% after rare double miss; U.S. pet sales dropped -8%, guidance cut 🐾
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$INSM ( ▼ 23.41% ) Insmed: tanked -24% after Q1 beat failed to impress; exploding SG&A, no guidance raise
IN PARTNERSHIP WITH VIRTUIX
Virtuix ($VTIX) Lands U.S. Marine Corps Training Project
Virtuix (NASDAQ: VTIX) has been selected as the lead integrator for a U.S. Marine Corps infantry training project, further expanding the adoption of its omni-directional treadmill technology in the defense sector.
The system will power a multi-user VR training environment where a four-person fire team can physically walk, run, and maneuver together in immersive combat simulations, enhancing spatial awareness and muscle memory beyond traditional training methods.
Delivery is expected in Q4, with potential for broader rollout across Marine Corps training centers. This program builds on growing traction for Virtuix’s 360-degree movement technology across the U.S. military, including engagements with the Army, Air Force, and Navy.
With defense emerging as a high-value vertical alongside consumer gaming, Virtuix continues to expand its total addressable market and long-term growth potential.
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
ST EDITOR’S PICKS
Links That Don’t Suck 🌐
📈 Mother’s Day Sale: IBD Digital + Print is the perfect combo—get 2 months for $10 *
😨 Fed’s Collins Agreed With FOMC Dissenters Over Statement
💰️ Used car prices dip in April but remain at 2023 levels as gas prices surge
🤳 COMMUNITY RIP LIVE W/GPAISA, JFDI, AND HOLDINGBAGS
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
WHAT’S ON DECK
Tomorrow’s Top Things 📋
Macro: Nonfarm Payrolls (Apr) (8:30 AM ET), Unemployment Rate (Apr) (8:30 AM ET), Michigan Sentiment Prelim (May) (10:00 AM ET), U.S. Baker Hughes Rig Count (Oil + Total) (1:00 PM ET). 📊
Pre-Market Earnings: $PAGP Plains GP Holdings, $GLP Global Partners, $FLR Fluor Corp, $AU Anglogold Ashanti, $FIS Fidelity National Information Serv, +45 more. ☀️
After-Market Earnings: $UI, $SILA Sila Rlty Tr Inc Trust, $GYRE Gyre Therapeutics Inc, $RGCO Rgc Resources Inc, $NLCP, +23 more. 🌙
P.S. You can listen to all of these earnings calls on Stocktwits.
Get In Touch 📬
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