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Chewy reports Q1 results that narrowly beat estimates

Chewy shares whipsawed in premarket trading after the online pet retailer reported Q1 results that slightly surpassed earnings expectations and narrowly beat revenue estimates.

Key numbers:

Net sales of $3.36 billion (compared to analyst estimates of $3.35 billion).
Adjusted earnings per share of $0.43 (estimate: $0.41).

Just a few weeks ago, Chewy CEO Sumit Singh, while speaking at the JPMorgan Technology, Media & Communications Conference in late May, said that US consumers appear more financially stretched than they were at the start of 2026, Barron’s reported.

“Our first quarter results demonstrate the resilience of our business model and the strength of our execution, despite a more dynamic consumer backdrop,” Singh said in a statement.

Chewy did not issue a forward guidance update or a revised full-year outlook in its initial press release. Its stock has dropped roughly 39% year to date.

The company’s adjusted EBITDA rose 31.3% to $253.1 million. Gross margin improved 50 basis points year over year to 30.1%.

Chewy added nearly 200,000 net active customers in the quarter, expanding its total active user base to 21.5 million customers, a 3.6% year-over-year increase.

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Microcap stock Paranovus whipsaws after announcing plans for $195 million equity raise

After soaring more than 2,000%, the stock crashed back down to earth on Wednesday.

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Core inflation comes in cooler than expected

Inflation ticked up in May, but the key core inflation metric came in cooler than economists had expected, according to the most recent reading by the Bureau of Labor Statistics, released on Wednesday.

Consumer prices rose 0.5% month over month, with core inflation (which strips out volatile food and energy prices) rising 0.2%, slightly cooler than the 0.3% economists were expecting.

Year over year, prices increased 4.2%, the highest in three years, reflecting higher energy prices caused by the war in Iran. Stripping out food and energy, prices rose 2.9%. Both figures are right in line with what economists were penciling in.

S&P 500 Index futures, which had fallen earlier this morning amid escalating tensions in Iran, trimmed some of their losses after the report.

Expectations across various Fed-related prediction markets were largely unchanged following the report. The inflation report, paired with a surprisingly strong jobs report last week, seemed to solidify expectations that the Federal Reserve will keep rates steady at its meeting next week.

“The in-line headline CPI and subdued core inflation data give the Fed some breathing room to remain patient as the energy supply shock plays out,” Angelo Kourkafas, a strategist at Edward Jones, said in a statement.

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Super Micro plunges after announcing $7 billion in equity and equity-linked financing

Super Micro Computer fell around 9.5% at one point before the bell Wednesday after announcing $7 billion in equity and equity-linked financing plans late on Tuesday, as the company looks to raise funds to satisfy increased demand for its advanced AI servers.

In a press release, SMCI outlined plans to issue $1.25 billion in common stock and $3.75 billion worth of depositary shares, which reflect fractional interests in the company’s newly issued convertible preferred stock, as part of its underwritten public offering, in addition to selling up to $2 billion of shares in an at-the-market offering slated to start no earlier than the third quarter of 2026.

Super Micro stated that a portion of the funds would be used for the “purchase of components to satisfy the AI orders that the Company has received in recent weeks for its advanced AI servers,” disclosing that it has received $39 billion in AI server orders from more than 20 customers in the last few weeks.

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Chip rout drags down stocks as investors rotate out of tech

Information technology and energy were today’s losers as oil prices slid on reports that Strait of Hormuz shipping traffic is normalizing.

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Airlines, cruise lines rise as oil prices ease

Travel stocks are climbing on Tuesday, with West Texas Intermediate crude futures down more than 3.4% as of 3 p.m. ET, largely on traders’ hopes for an improving situation with Iran.

The New York Times reported that American officials think Iran could agree to a 15-year suspension of uranium enrichment. Crude futures had spiked briefly on Tuesday following President Trump’s Truth Social post that the US must respond to the downing of a US Apache helicopter by Iran, but prices remain lower on the day, boosting US travel stocks.

Shares of Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, and JetBlue were all up at least 4% an hour before market close. Cruise lines Carnival, Norwegian, and Royal Caribbean were similarly up. Travel companies have been rocked by higher fuel costs in the months since the war in Iran began.

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