markets

Hyunsoo Rim2/3/26

PayPal craters on earnings miss, weak 2026 outlook, and leadership change

PayPal fell over 16% in premarket trading Tuesday after the digital payments company posted weaker-than-expected Q4 results and 2026 profit guidance, alongside a surprise leadership change.

For the quarter ended December 31, revenues increased 4% year on year to $8.7 billion, missing the $8.8 billion estimate, while adjusted earnings per share rose 3% to $1.23, also below the expected $1.28, per LSEG. The company forecast full-year adjusted profit for 2026 to decline in the “low-single digits” or be “slightly positive,” well below Wall Street forecasts for roughly 8% growth.

Results were dragged down by softer US retail spending and a slowdown in its online branded checkout business, which PayPal said grew “below our expectations,” rising just 1% year over year in Q4, down from 6% a year earlier.

Separately, PayPal said its CEO, Alex Chriss, will be replaced by HP CEO Enrique Lores, effective March 1. “While some progress has been made in a number of areas over the last two years, the pace of change and execution was not in line with the Board’s expectations,” the company said in a statement.

In December, PayPal announced it applied to become a US bank with the FDIC and Utah regulators to support small-business lending, adding to its existing European banking license.

Results were dragged down by softer US retail spending and a slowdown in its online branded checkout business, which PayPal said grew “below our expectations,” rising just 1% year over year in Q4, down from 6% a year earlier.

Separately, PayPal said its CEO, Alex Chriss, will be replaced by HP CEO Enrique Lores, effective March 1. “While some progress has been made in a number of areas over the last two years, the pace of change and execution was not in line with the Board’s expectations,” the company said in a statement.

In December, PayPal announced it applied to become a US bank with the FDIC and Utah regulators to support small-business lending, adding to its existing European banking license.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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