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S&P 500 component company Carnival Corporation (NYSE: CCL) beat earnings by nine cents this morning, reporting Q4 2025 profit of $0.34 per share on sales of $6.3 billion (which was slightly below consensus estimates).
Heading into fiscal 2026, the cruise line operator forecasts adjusted net income will rise approximately 12%.
Carnival stock is up nearly 9% on the news, and the Voo is now up 0.9%.
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S&P 500 component company FedEx (NYSE: FDX) delivered some mixed news last night, beating by 71 cents in its Q2 report with a $4.82 per share profit on $23.5 billion in sales, which was also better than expected.
That’s the good news.
The bad news is that FedEx says it’s unable to give a clear fiscal 2026 earnings forecast because it’s “unable to forecast the fiscal 2026 mark-to-market retirement plans accounting adjustments.” These accounting adjustments, says FedEx, “could have a material effect on fiscal 2026 consolidated financial results.”
What the company was able to predict, however, was largely good news. Full year sales should be up 5% to 6% in comparison to fiscal 2025, and that’s better than the prior forecast. And non-GAAP earnings, not counting the accounting adjustment, should range from $14.80 to $16.00 per share — again, better than earlier forecasts.
Investors are taking the news with a few grains of salt given the caveats, which is understandable. But they’re still at least modestly optimistic about FedEx stock, which is now up 0.1%.
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Speaking of things shoppers might not be buying this holiday season, Nike (NYSE: NKE) beat earnings by 16 cents last night, reporting Q2 earnings of $0.53 on $12.4 billion in sales.
On their face, the Q2 numbers look good, but Nike noted that direct sales over the internet declined 14% year over year, sales through Nike-owned stores fell 3%, and total “direct” sales were down an average of 8%.
Looking ahead to Q3, Nike warned that its gross profit margin will fall 175 to 225 basis points, with sales growth only be “modest” and selling, general, and administrative expenses rising in the low single digits. Management specifically cited tariffs cost as a headwind it must overcome.
Investors are taking this as on the whole bad news, and Nike stock is down nearly 10% in midday trading.
This article will be updated throughout the day, so check back often for more daily updates.
Friday trading is well underway, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is having a good day, up 0.8% as we approach noon Eastern.
S&P 500 component company Oracle (NYSE: ORCL) is helping to push the ETF higher. Shares of the software company are up more than 7% after TikTok CEO Shou Zi Chew confirmed that a consortium of companies including Oracle, Silver Lake, and Abu Dhabi-based MGX will jointly acquire and run TikTok U.S., with Oracle in particular tasked with running the social media app’s software in the U.S., and ensuring the company abides by “agreed upon National Security Terms.”
China is selling the division only, and not TikTok’s algorithm, but its’s still not 100% clear how the algorithm will be accessed here. In any case, the deal is expected to close January 22.
Economy
In other news, the University of Michigan released its Consumer Sentiment survey for December today. The CS “reading” is 52.9 this month, up from 51.0 in November but lower than the 53.5 reading that economists had predicted. That’s generally bad news, suggesting consumers may not shop as much as retailers would like this Christmas season.
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