Thursday, May 21, 2026

Friday Watch

Around X:

  • @Business  
  • @ZeroHedge
  • @CNBC
  • @TheTranscript 
  •  Zoom CEO @ericsyuan: "FY27 is off to a good start, continuing the momentum from FY26. Q1 revenue grew 5.5%, exceeding the high end of our guidance and among our best growth rates in recent years". $ZM: +7% AH.
  • $WDAY Workday CFO: "Subscription revenue in Q1 was $2.354 billion, up 14%. Professional services revenue was $188 million, resulting in total revenue of $2.542 billion, growth of 13%...12-month subscription revenue backlog, or cRPO, was $8.81 billion at the end of Q1, growing 15.5%. This was driven by continued customer expansion - bolstered by our AI solutions - and growth from new customers."
  • Workday CEO: "We had a great Q1, and it makes one thing clear: Workday is ready for this AI moment. Our core business is strong, our AI strategy is working, and we're moving with the speed and focus required to lead," $WDAY: +9% AH.
  • Ross Stores CEO: "We achieved outstanding sales and earnings results in the first quarter...Momentum was solid throughout the quarter, with broad-based strength across the business. Customer traffic was the primary driver of the strong sales trend... $ROST: +5% AH.
  • @WallStEngine
  • $DECK Q4’26 EARNINGS HIGHLIGHTS. Revenue: $1.12B (Est. $1.09B) ; +10% YoY. EPS: $0.96 (Est. $0.83). HOKA Sales: $671.2M; +14.5% YoY. UGG Sales: $408.6M; +9.2% YoY. DTC Comparable Sales: +8.2%. FY27 Guide: Revenue: $5.86B-$5.91B (Est. $5.82B). EPS: $7.30-$7.45 (Est. $7.34). Gross Margin: ~56.5%. Operating Margin: ~21.5%. HOKA: Low-double-digit % growth. UGG: Mid-single-digit % growth.
  • $TTWO Q4’26 EARNINGS HIGHLIGHTS. Revenue: $1.68B (Est. $1.57B) EPS: -$0.32 Recurrent Consumer Spending: +12%, 81% of revenue Net Bookings from RCS: +7%, 82% of total bookings. GTA VI Launch Date: November 19, 2026
  • @ShadowofEzra
  • @Nicksortor
  • @EricLDaugh
  • @mattvanswol
  • @C_3C_3
  • @unusual_whales
  • @TeamOverhaulGA
  • WATCH: Derek Dooley hints that he would support letting illegal aliens stay— says he is "sensitive to both sides of the issue": "They want to feel like they don't have to look over their shoulders every 5 minutes and worry about us taking them out of the country." (video)
  • @Laralogan  
  • @lsferguson
Night Trading 
  • Asian equity indices are +.25% to +1.25% on average. 
  • Asia Ex-Japan Investment Grade CDS Index 74.25 unch. 
  • China Sovereign CDS 40.5 -1.5 basis points.
  • China Iron Ore Spot 106.3 USD/Metric Tonne +.5%. 
  • Crude Oil 97.94/bbl. +1.7% 
  • Gold 4,528.9 USD/t oz. -.3%. 
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.64 unch.
  • Bloomberg Emerging Markets Currency Index 35.30 -.2%.
  • Bloomberg Global Risk-On/Risk Off Index 124.7 +.7%.
  • US 10-Year Yield 4.57% unch.
  • Japan 30-Year Yield 4.03% -1.0 basis point. 
  • Volatility Index(VIX) futures 19.4 -.01%.
  • Euro Stoxx 50 futures +.90%. 
  • S&P 500 futures +.20%.
  • NASDAQ 100 futures +.27%.
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the day.

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