Traders are crying foul over the green owl.

Duolingo posted better-than-expected first-quarter results, calling it an “outstanding start to the year.”

But the market seems to disagree, with shares down more than 10% in after-hours trading.

Here are the Q1 details:

• Revenue of $292 million (compared to analyst estimates of $288.5 million).

• Adjusted EBITDA of $83.4 million (estimate: $73.5 million).

• Daily active users of 56.5 million (estimate: 55.7 million). 

• Paid subscribers of 12.5 million (estimate: 12.7 million).

The company also boosted its full-year adjusted EBITDA guidance to $310 million, up from a prior range of $299 million to $305 million, and solidified its revenue outlook to $1.21 billion, the midpoint of its previous range.

The first quarter’s top- and bottom-line beats are larger than the changes to its full-year guidance. This may be Duolingo’s way of keeping expectations low, but on the surface it could be viewed as a sign that the good news for 2026 is already in the rearview mirror.

The language-learning app hit all-time highs more than a year ago and has been in free fall ever since, losing over 75% of its value as investors grapple with the effects of artificial intelligence on the foreign language business.

Duolingo’s user growth has slowed meaningfully in recent quarters, and has been decelerating for years. The company blamed some of this on choosing to forgo some of its unhinged social media posting, trading off user growth for a more positive experience. Whatever the reason, the slowing in user growth continued in Q1, with the app showing a 21.2% increase in daily active users compared to 2025. The deceleration was softer than feared, however, outperforming its guidance and the Street’s call.

Going forward, CEO and cofounder Luis von Ahn sees room to expand in some areas that might seem a little far afield for a language-learning app, until you remember how gamified nearly every app experience is these days.

“We are moving quickly to prioritize the product and free user experience, while also investing in our next engines of growth, like chess, math, and music. We have conviction this is ultimately what will make us a larger and more durable company,” he wrote.

Palantir reported Q1 sales and earnings per share that topped Wall Street’s consensus expectations and boosted its revenue and profit guidance. The defense, intelligence, and AI software company reported:

• Adjusted Q1 earnings per share of $0.33 vs. Wall Street expectations for $0.28, according to FactSet.

• Q1 sales of $1.63 billion vs. an expected $1.54 billion, per FactSet.

• Q1 sales growth of 85% year over year vs. a 74.5% Wall Street expectation.

• Q1 US commercial sales of $595 million vs. the $605 million consensus of seven analyst estimates collected by FactSet.

Looking forward, Palantir forecast:

• Q2 2026 revenue in the range of $1.797 billion to $1.801 billion, vs. Wall Street expectations for $1.68 billion.

• Q2 2026 adjusted operating income between $1.063 billion and $1.067 billion, vs. an expectation for $873.6 million.

• Full-year 2026 revenue in the range of $7.65 billion to $7.662 billion, vs. its previous estimate of between $7.182 billion and $7.198 billion and Wall Street expectations for $7.24 billion.

• Full-year 2026 adjusted operating income between $4.440 billion and $4.452 billion, vs. its previous estimate of between $4.136 billion and $4.142 billion and analyst expectations for $4.19 billion, according to FactSet.  

Shares were roughly flat shortly after the report.

A retail favorite since at least 2024, Palantir’s shares have struggled early in 2026, falling about 18% through Monday’s close. The problem isn’t with the fundamentals, as Palantir’s results have repeatedly trounced expectations for profitability and growth. (Though it did slightly undershoot expectations for Q1 US commercial sales, if one is being a stickler.)

It’s just that the market has given Palantir lots of credit over the last three years, during which time its shares soared roughly 1,900%. In the market’s view, perhaps Palantir’s sterling performance merely represents the company keeping its end of the bargain.

Pinterest’s nascent comeback gained traction on Monday as the company reported better-than-expected Q1 results.

After sinking double digits following each of its past three earnings reports, the social media company looks poised to snap that inauspicious streak, with shares jumping 20% in postmarket trading.

Here are the Q1 numbers: 

• Revenue of $1.01 billion (versus a consensus estimate of $965.7 million and guidance for $958 million to $978 million).

• Adjusted EBITDA of $206.5 million (estimate: $176.7 million, guidance for $163 million to $183 million).

• Monthly active users of 631 million (estimate: 630.5 million).

Guidance for Q2 was modestly ahead of estimates:

• Revenue in a range of $1.13 billion to $1.15 billion (estimate: $1.12 billion).

• Adjusted EBITDA in a range of $256 million to $276 million (estimate: $264.8 million).

The stock had lost 40% of its value over the past six months as investors scrutinized the headwinds from tariffs and chatbots — worries that are seemingly being assuaged by these results.

Considering the vibe curation company’s recent track record, the bar had been slightly lowered for Q1: in its guidance for the first quarter of the year, the company said it expected Pinterest to grow between 11% and 14% year over year, already a few ticks downward from the 16% growth the company saw in 2025. 

In the first part of the year, Pinterest actually enjoyed revenue growth of nearly 18%, its strongest pace since Q2 2024.

“As we continue building an AI-powered ads platform that delivers performance for advertisers, we remain focused on ensuring monetization more fully reflects the strength of our engagement,” said CEO Bill Ready.

The company’s attempted open-source AI pivot may be starting to show signs of paying off for investors. 

Paramount delivered its first-quarter results after the bell on Monday. Shares of the entertainment company rose about 5% in after-hours trading.

For Q1, Paramount reported:

• Adjusted earnings of $0.23 per share, compared to Wall Street estimates of $0.15 per share from analysts polled by FactSet.

• Revenue of $7.35 billion, compared to a $7.28 billion estimate.

• 79.6 million Paramount+ subscribers, compared to the 79.9 million consensus.

Looking ahead, the company said it expects Q2 revenue of between $6.75 billion and $7.95 billion, compared with the $7.07 billion Wall Street consensus forecast. The company maintained its full-year revenue guidance of $30 billion.

Q1 marks the company’s first earnings report since winning the bidding war for Warner Bros. Discovery in late February. As of Monday afternoon Eastern time, prediction markets speculating on which company will ultimately come out on top of the bidding war have Paramount at a 77% chance, compared to 17% for “none.”

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

The megadeal still faces some hurdles, including significant opposition from notable entertainment workers and potential antitrust challenges on the federal or state level. Last week, a group of subscribers sued to block the deal on antitrust grounds.

“Grand Theft Auto VI,” Take-Two’s hotly anticipated sixth installment in its “Grand Theft Auto” franchise, will likely release at an $80 price point, according to a new Bank of America note.

After attending the Entertainment Software Association’s iicon event last month, BofA wrote, “What we heard leads us to believe GTA 6 will cost $80, rather than our previously assumed $70 per unit.”

Shares of Take-Two are up about 4% on Monday, good enough for one of its biggest trading days of 2026. The stock is still down about 12% year to date.

An $80 price for the year’s biggest game would further usher in the higher industry price ceiling, which climbed to $70 around 2020 following roughly 15 years at the $60 level. Nintendo’s “Mario Kart World” was the first to test the $80 price tag last year, though its effectiveness as a trial might be limited since the game was bundled with the Switch 2 console.

Given the demand for “GTA 6,” a follow-up 13 years in the making, industry rumors have speculated that its launch price could be as high as $100.

Investors will be closely watching Take-Two’s earnings call later this month for any official “GTA” pricing information and confirmation of its November release date.

GameStop shareholder Michael Burry has some thoughts about the retailer’s offer to buy eBay for $55.5 billion.

But the tweet and opening line of the latest article from the hedge fund manager of “The Big Short” fame turned Substacker may muddle his overall message:

*BURRY SAYS GAMESTOP BID FOR EBAY ‘MAKES PERFECT SENSE’

From our perch, Burry’s headlined comment that the bid “makes perfect sense” seems to be imbued with a hefty dose of sarcasm, and comes in a piece that’s full of skepticism about how the financials would work. The more important thing to highlight is that he’s decided to “certainly sell to an extent, perhaps all or some” of his GameStop position this week. In an update after the close on Monday, Burry said on Substack that he had indeed sold his entire position in GameStop:

Any which way I sliced it, the Instant Berkshire thesis was never compatible with >5x Debt/EBITDA, never ok with interest coverage under 4.0x...
As a result, GME is the first sale since I started this Substack.

Well that pretty much confirms our thoughts on how to interpret his “perfect sense” remark, given the context:

“Still, at the end of the day, this play for eBay makes perfect sense.

Wall Street does indeed mistake debt for creativity, and does so constantly.

I of all people should have known.

Charlie Munger once said, ‘When a manager with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact’.”

Burry appears to be saying this “makes perfect sense” because folks in financial circles will think it is smart, not because it actually is.

To be fair, Burry also wrote, “I do support the effort,” but also offers a lot of negative commentary about the bid.

For instance:

“Neither does this seem revolutionary or ground-breaking in nature. More dilution, or more debt — really, the capital markets strategy here could not be more pedestrian.”

“If Ryan really wanted to compete with Amazon, he would have acquired Wayfair (70% of its own last mile deliveries and warehouses all over) along with a cash flow machine and a bunch of float. I heard someone was peddling such a deal back in early February.”

“If GameStop wants to do it [editor’s note: dominate collectibles and used goods] with billions of interest expense and all manner of covenants restricting its movements, it will not be breaking new ground. It will be trotting in well-worn ruts on the road to capitalist Hell.

No new ground has been broken yet. To truly break new ground, Ryan has to execute and succeed in this transformation from this starting position, saddled with debt.”

Burry would have preferred if GameStop elected to buy a position in or bid for a company that he highlighted as a more appropriate target, including the aforementioned Wayfair.

This message is brought to you by the mid-2000s: BlackBerry shares are surging in early trading.

But the once iconic smartphone maker finds itself back in the spotlight through software, not hardware.

The move follows renewed attention to its QNX software business after a Wall Street Journal report highlighted the unit’s growth, particularly in the automotive industry. This division accounts for roughly half of the company’s revenue, with the technology now embedded in roughly 275 million vehicles, powering features like driver assistance and infotainment.

BlackBerry reported its Q4 earnings in early April, with revenue of $156 million surpassing the top end of its guidance. That was fueled by stronger-than-expected sales across both its QNX and Secure Communications divisions. Shares then spiked later in the month after BlackBerry enhanced its partnership with Nvidia by integrating QNX with the chip designer’s robotics development platform.

The stock is up more than 50% year to date, making it one of the few stocks to go gangbusters thanks to its performance in software, an industry bedeviled by the competitive threat from AI.

Its recent hot run has come alongside more bullish activity in options markets. Less than half an hour into today’s session, more than 31,000 calls have already changed hands, roughly half of the full-day average over the past 20 days. The name also appears to be attracting retail attention, being one of the 15 most referenced tickers on the r/WallStreetBets subreddit over the past 12 hours, per SwaggyStocks.

Ford sold 22% more EVs in April than in March, but the category makes up just 1.7% of the automaker’s total 2026 sales through April. At the same point last year, EVs were about 4% of sales.

The company released its April sales figures Monday morning, with EVs climbing sequentially but still down nearly 25% from last year. Its more popular hybrids were down 5% from March and about 33% from last year.

Overall, Ford posted a 14.4% drop in sales in April from last year. SUVs were down more than 16%, trucks fell more than 14%, and cars (the company doesn’t sell many) climbed 18%.

When it reported its Q1 earnings last week, Ford boosted its full-year guidance for adjusted earnings before interest and taxes to between $8.5 billion and $10.5 billion.

Norwegian Cruise Line shares slid after the cruise operator cut its full-year outlook, overshadowing a first-quarter earnings beat.

The company lowered its guidance for full-year adjusted earnings per share to $1.45 to $1.79, down from its previous forecast of $2.38. It now sees adjusted EBITDA of $2.48 billion to $2.64 billion, below the company’s previous forecast of $2.95 billion and the $2.79 billion analysts were expecting.

The cut reflects a mix of macro and company-specific pressures. Higher fuel costs tied to the conflict in the Middle East are weighing on margins, while demand for European travel has softened and bookings remain below target level.

Norwegian said it entered 2026 “behind its targeted booking curve,” with geopolitical disruptions further slowing its ability to close that gap. The stock had already been under pressure, down more than 16% this year heading into the results.

On Monday morning before the open, the stock was down 6.7%.

The company’s first-quarter adjusted EPS came in at $0.23, topping estimates, but the beat was overshadowed by the guidance cut.

CEO John Chidsey said the company has already begun “taking decisive actions to strengthen execution and accountability,” including cost cutting and efficiency measures aimed at offsetting near-term pressures.

Shares of other cruise lines, including Carnival and Royal Caribbean, traded slightly lower after the report.

Separately, three people have died and at least three others are sick after a suspected outbreak of hantavirus aboard a cruise ship sailing in the Atlantic Ocean, the World Health Organization said Sunday. Though that ship isn’t operated by one of the large publicly traded cruise liners, the news poses a potential reputational risk for the industry.