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Henry Schein, a medical supplies distributor, exceeded Wall Street's first-quarter profit expectations and reaffirmed its annual 2026 profit forecast of $5.23 to $5.37 per share. The company reported strong demand across its dental business despite ongoing instability in the U.S. dental market, with total revenue rising 6.3% to $3.4 billion.

• Adjusted earnings reached $1.32 per share in Q1, beating analyst estimates of $1.27, while revenue of $3.4 billion exceeded expectations of $3.34 billion
• The Global Distribution and Value-Added Services segment, the company's largest, grew 6.1% to $2.84 billion in revenue
• Company maintained its 2026 sales growth forecast of 3% to 5%, with analysts noting the stable outlook is unsurprising given current macroeconomic uncertainty

Duke Energy exceeded first-quarter profit and revenue expectations on May 5, 2026, driven by recovery of rate-based infrastructure investments and favorable weather conditions. The utility reported quarterly revenue of $9.17 billion, beating analyst estimates of $8.43 billion, as energy companies push for rate increases to fund grid improvements amid rising demand from electrification and data centers.

• Revenue rose to $9.17 billion from $8.25 billion year-over-year, surpassing the $8.43 billion analyst estimate, with adjusted profit at $1.93 per share
• Natural gas unit profit jumped to $532 million from $349 million previously, while electric utilities segment income declined slightly to $1.25 billion from $1.28 billion
• Duke Energy requested North Carolina approval to recover over $800 million in costs from extreme winter weather, which would raise average monthly bills by approximately $6.90 to $7.88 starting June 1

Coinbase announced plans to cut approximately 700 jobs, representing 14% of its global workforce, as part of a restructuring effort to reduce costs and reposition for the AI era. The company expects to incur $50-60 million in restructuring expenses, primarily for severance and termination benefits, with the process largely completing in Q2 2026.

• The workforce reduction will eliminate about 700 positions, or 14% of Coinbase's total global headcount
• Total restructuring costs are expected to reach $50-60 million, mainly for employee severance and termination benefits
• Most of the restructuring charges will be recognized in the second quarter of 2026, when the company expects to complete the majority of the layoffs

Harley-Davidson unveiled its 'Back to the Bricks' turnaround strategy under new CEO Artie Starrs, focusing on affordable motorcycles and dealer network improvements to reverse declining sales. The plan targets over $350 million in core motorcycle profit by 2027 and $150 million in cost reductions amid pressures from inflation, tariffs, and weakened consumer demand. The company reported Q1 net income of $25 million with revenue falling 12% to $1.2 billion.

• Harley will introduce the entry-level Sprint model at approximately $6,000 (440cc) and revive the iconic Sportster to attract younger riders and expand market reach
• The company expects tariff-related costs of $75-90 million in 2026, down from earlier estimates of $105 million, after absorbing $45 million in Q1 despite sourcing 75% of components domestically
• Strategy emphasizes higher-margin parts and accessories sales while improving dealer profitability and aligning inventory with demand during challenging economic conditions

Pfizer reported first-quarter profit exceeding Wall Street expectations, driven by sustained demand for its older drugs, particularly the blood thinner Eliquis. The company posted an adjusted profit of 75 cents per share, beating analyst projections.

• Adjusted earnings reached 75 cents per share, surpassing Wall Street estimates
• Strong performance attributed to continued demand for Eliquis, a blood thinner among Pfizer's older drug portfolio
• Results demonstrate the company's reliance on legacy products beyond its COVID-19 franchise

BioNTech announced it will close manufacturing sites in Germany and Singapore, affecting up to 1,860 jobs, as it transfers COVID-19 vaccine production to partner Pfizer. The company also plans to buy back up to $1 billion in shares and aims to cut costs by approximately 500 million euros annually by 2029. BioNTech reported a first-quarter net loss of 532 million euros.

• Site closures planned for Idar-Oberstein, Marburg, and Tuebingen in Germany by end of 2027, and Singapore by Q1 2027, with divestment options being explored
• First-quarter net loss widened to 532 million euros from 416 million euros in the prior-year period
• Company holds 16.7 billion euros in cash and financial securities as of March 31 and will repurchase up to $1 billion of shares

UnitedHealthcare announced it will eliminate prior authorization requirements for an additional 30% of healthcare services by the end of the year, including select outpatient surgeries, diagnostic tests, and certain therapies. The move aims to reduce administrative delays and paperwork that have drawn complaints from patients and doctors about barriers to timely care.

• The eliminated requirements will cover select outpatient surgeries, diagnostic tests like echocardiograms, and certain outpatient therapies and chiropractic care
• UnitedHealthcare states that prior authorizations are currently required for only 2% of its medical services, with approximately 92% of submitted authorizations approved in less than 24 hours
• The changes align with a broader industry effort to standardize prior authorization, with over 70% of UnitedHealthcare's prior authorizations expected to use the new standardized submission process by year-end

Morgan Stanley predicts U.S. gasoline inventories will fall to historic summer lows of around 198 million barrels by end of August, below 2022 energy shock levels. The drawdown is driven by collapsed imports, refiners favoring diesel over gasoline production, and elevated exports to Latin America and Europe. The tightening supply is already reflected in gasoline margins near $35 per barrel.

• Gasoline imports hit an all-time weekly low in the week ending April 10, with May arrivals from Europe expected to stay well below typical levels of 3-4 million barrels
• U.S. refiners continue prioritizing diesel and jet fuel over gasoline due to stronger distillate margins, while exports remain elevated above year-earlier levels
• Morgan Stanley sees upside risk of $10-15 per barrel in margins if geopolitical tensions around the Strait of Hormuz persist, potentially reaching 2022 levels of $40 per barrel

Danish shipping giant Maersk successfully transited one of its vessels, the Alliance Fairfax, through the Strait of Hormuz under U.S. military protection as part of President Trump's 'Project Freedom' initiative. The ship had been stranded since a U.S. and Israeli-led war against Iran began on February 28, which resulted in Iran's closure of the strait. This matters significantly as approximately 20% of the world's oil and gas typically passes through this strategic waterway, but shipping traffic has virtually halted since the conflict started.

• The Alliance Fairfax, a U.S.-flagged vessel operated by Maersk subsidiary Farrell Lines, completed the transit Monday with all crew safe after being stranded since late February
• Approximately 20% of global oil and gas normally transits through the Strait of Hormuz, but shipping has virtually halted since Iran closed the waterway following the outbreak of war on February 28
• A fragile U.S.-Iran ceasefire appeared close to unraveling Tuesday, with Iranian strikes on the UAE and Trump warning Iran would be 'blown off the face of the earth' if it targeted U.S. ships

Anheuser-Busch InBev reported its first volume growth since 2023 in Q1, driven by strong performance of premium brands like Corona and Stella Artois, along with a 37% revenue jump in non-beer products like Cutwater canned cocktails. The brewer beat profit and revenue expectations, aligning with rivals who have also recently returned to volume growth after prolonged declines.

• AB InBev reported 5.3% organic operating profit growth, more than doubling analyst expectations of 2.6%
• Non-beer beverages, including Cutwater canned cocktails, saw revenues surge 37% as the company diversifies beyond traditional beer
• The brewer overtook Heineken in key market Mexico and expects continued volume improvement despite tariff risks threatening input costs for fertilizer and aluminum

Italy's UniCredit reported record first-quarter net profit of 3.2 billion euros, significantly beating analyst expectations of 2.7 billion euros, while simultaneously launching a takeover bid for Germany's Commerzbank. The strong results prompted the bank to raise its full-year profit guidance to at least 11 billion euros.

• Q1 net profit rose 16% year-over-year to 3.2 billion euros ($3.7 billion), marking UniCredit's highest quarterly result ever
• The results exceeded analyst consensus estimates by approximately 19% (3.2 billion vs. 2.7 billion euros expected)
• UniCredit raised its full-year profit outlook to 'at least 11 billion euros' from a previous target of 'around 11 billion euros'

European stock markets are expected to open lower on Tuesday as escalating military tensions between the U.S. and Iran threaten a fragile ceasefire. The conflict intensified after the UAE was attacked by Iranian drones and missiles, and the U.S. engaged Iranian boats in the Strait of Hormuz, raising concerns about prolonged conflict and its economic impact.

• U.K. markets expected to open flat while Germany's and France's indices forecast to drop 0.4%, and Italy's down 0.1%
• President Trump warned Iran would be 'blown off the face of the earth' if it targets U.S. ships protecting commercial vessels in the Strait of Hormuz
• Global markets fell Monday on fears of extended conflict potentially disrupting oil supplies and trade, with oil prices rising amid the uncertainty

Hong Kong conglomerate CK Hutchison agreed to sell its 49% stake in UK mobile operator VodafoneThree to its joint venture partner for £4.3 billion ($5.81 billion). The stake is held through CK Hutchison Group Telecom Holdings, with Vodafone Group currently owning the remaining 51% of VodafoneThree.

• The transaction values CK Hutchison's 49% stake at £4.3 billion ($5.81 billion), representing a significant exit from the UK telecom market
• Vodafone Group, which currently owns 51% of VodafoneThree, is acquiring CK Hutchison's minority stake
• The sale is being executed through CK Hutchison Group Telecom Holdings (CKHGT), the telecom unit of the Hong Kong-based conglomerate

HSBC reported first-quarter pre-tax profit of $9.4 billion, missing analyst estimates of $9.59 billion due to larger-than-expected credit losses and impairment charges. While revenue rose 6% year-over-year to $18.6 billion and exceeded forecasts, profit declined from $9.5 billion in the same quarter last year.

• Pre-tax profit of $9.4 billion fell short of the $9.59 billion analyst estimate and declined from $9.5 billion year-over-year
• Revenue grew 6% to $18.6 billion, beating the $18.49 billion estimate
• The profit miss was driven by higher-than-anticipated credit losses and other impairment charges

Apple has held exploratory discussions with Intel and Samsung Electronics about potentially manufacturing the main processors for its devices, according to Bloomberg News. This represents a potential shift in Apple's chip production strategy, which could impact U.S. manufacturing. The report has not been independently verified by Reuters.

• Apple is considering Intel and Samsung as potential manufacturers for its main device processors
• The discussions are described as exploratory and involve people familiar with the deliberations
• This could represent a significant shift in Apple's chip supply chain strategy toward U.S. production

California energy officials launched an investigation into the Trump administration's $120 million deal with Golden State Wind LLC to cancel an offshore wind project off the state's central coast. The state issued a subpoena to determine whether the agreement, which involves canceling lease payments in exchange for fossil fuel investments, violated the law. This conflicts with California's goal to install 25 gigawatts of offshore wind by 2045.

• The California Energy Commission subpoenaed Golden State Wind LLC, a joint venture between Ocean Winds (ENGIE and EDP Renewables partnership) and Reventus Power
• California has invested over $100 million in port and transmission infrastructure to support offshore wind development needed for climate goals
• The deal is part of President Trump's year-long effort to undermine the nation's offshore wind industry by offering lease cancellation payments in exchange for fossil fuel investments

Disney's 'The Devil Wears Prada 2' launched the summer movie season with a $77 million domestic opening weekend, nearly triple the original film's 2006 debut. The sequel generated $233 million globally in its first three days, representing 72% of what the original earned during its entire theatrical run. The film demonstrates strong audience appetite for nostalgic intellectual property beyond traditional superhero franchises.

• Female moviegoers drove attendance, representing 76% of tickets sold, with the strongest demographics being ages 25-34 (28%) and over 55 (22%)
• The $77 million domestic opening was the third-highest debut of the year, vastly outperforming the original's $27.5 million opening weekend from two decades ago
• The film has become a cultural event with audiences dressing up as characters and groups attending together, reflecting the power of nostalgic IP in Hollywood's current franchise-heavy landscape

The head of American Airlines' pilots union praised United Airlines CEO Scott Kirby's merger proposal as demonstrating 'bold vision,' though the union did not formally endorse a merger between the two carriers. United ended its merger pursuit last month after American declined to engage, with American stating such a merger would harm competition and consumers.

• American Airlines pilots union leader commended Kirby's approach as the type of vision the carrier needs, despite not endorsing the actual merger
• United Airlines officially ended its merger pursuit with American last month after the initial approach was rejected
• American Airlines has opposed the merger on antitrust grounds, arguing it would be bad for competition and consumers

Chevron CEO Mike Wirth warned that physical oil supply shortages will emerge globally due to the closure of the Strait of Hormuz, which handles 20% of world crude supply. The closure stems from a U.S.-Israeli conflict with Iran, and Wirth predicts economic contraction will begin in Asia as demand adjusts to constrained supply.

• The Strait of Hormuz closure blocks 20% of global crude oil supply from reaching markets
• Asian economies are expected to contract first as demand is forced to adjust to reduced oil availability
• IMF separately warned that prolonged Middle East conflict into 2027 could push oil prices to $125 per barrel with worsening economic outcomes

Lattice Semiconductor announced on Monday it will acquire AMI Software, an AI cloud and platform management firm, in a deal valued at $1.65 billion. The acquisition expands Lattice's capabilities in AI infrastructure management.

• The total transaction value is $1.65 billion
• AMI Software specializes in AI cloud and platform management solutions
• The deal positions Lattice Semiconductor to expand its presence in AI infrastructure and cloud management markets