Markets
markets
Max Knoblauch

Frontier sinks as high fuel costs dampen record Q1 revenue, weigh on Q2 earnings guidance

Budget airline Frontier reported its first-quarter results before markets opened on Tuesday. Its shares fell more than 5% in premarket trading.

For Q1, Frontier reported:

  • An adjusted loss of $0.30 per share, compared to Wall Street estimates of a $0.36 loss per share, per analysts polled by FactSet.

  • $1.07 billion in revenue, compared to the $1.05 billion consensus estimate.

  • $268 million in fuel expenses, up 13% from last year. Like the rest of the industry, Frontier has been rocked by higher fuel costs.

Looking ahead, Frontier guided for a second-quarter adjusted loss of between $0.60 and $0.45 per share, deeper than the estimates of a $0.31 loss per share. Frontier said it expects to pay $4.25 per gallon of jet fuel in Q2, up about 48% from Q1.

Frontier shares closed up more than 10% on Friday on reports that rival Spirit would likely cease operations over the weekend. Following Spirit’s shutdown, Frontier climbed more on Monday. The carrier has the most direct route overlap with Spirit of any airline — though it may not benefit from its rival’s downfall as much as larger rivals with more premium ticket exposure.

A group of budget carriers including Frontier has sought $2.5 billion in government assistance to help sustain operations amid higher fuel costs. Following Spirit’s collapse, US Transportation Secretary Sean Duffy said he doesn’t think it’s necessary.

More Markets

See all Markets
markets
J. Edward Moreno

Coinbase CEO: Company cutting 14% of employees

Coinbase CEO Brian Armstrong said the company is cutting 14% of its workforce, citing volatile crypto markets and artificial intelligence, saying he is “rebuilding Coinbase as an intelligence, with humans around the edge aligning it.”

The cuts will impact about 700 employees and will be “substantially complete in the second quarter of 2026,” the company said in a regulatory filing. The restructuring will cost up to $60 million.

Armstrong said Coinbase will have fewer layers of management and lean heavily on AI. He said that engineers and nontechnical workers at Coinbase have been able to enhance their work with AI already.

The move comes as the company is scheduled to report earnings results on Thursday. The crypto bear market has been a headwind for the company in recent quarters, with analysts expecting the company’s Q1 profits to decline by 58% year over year.

Shares rose as much as 8% in premarket trading after the announcement. The company is down over 14% since the start of the year through yesterday’s close.

Read more
markets
Helena Cheng

Cummins jumps after power systems division delivers record results, management boosts full-year outlook

Shares of Cummins are trending higher in premarket trading amid evidence the 107-year-old engine maker is carving out a role as an AI infrastructure company.

While its headline Q1 results were nothing to write home about, its power systems segment — which makes generators — posted record-breaking performance fueled by data center demand.

Management boosted its full-year sales growth outlook to a range of 8% to 11% (up from 3% to 8%) and said its full-year EBITDA would be up 17.8% to 18.5% (up from 17% to 18%). Analysts had expected growth at the bottom end of this updated range.

“Demand for data center power generation across a range of our products continues to outpace expectations,” said Cummins CEO and Chair Jennifer Rumsey, who added that North American truck markets look to be improving from a “cyclical low.”

markets
Hyunsoo Rim

Shopify tumbles despite strong first quarter as Q2 guidance fails to impress

Shopify fell in premarket trading Tuesday after the e-commerce company’s strong Q1 results failed to offset concerns over its second-quarter outlook.

The stock was recently down 5.9% premarket.

Revenue for the first quarter rose 34% year on year to $3.17 billion, topping the $3.09 billion estimate compiled by Bloomberg, while gross merchandise volume — the total dollar value of goods sold through its platform — hit $100.7 billion, also above the roughly $98.8 billion analysts had expected.

But investors appeared to look past its Q1 beat, focusing instead on the company’s second-quarter outlook, which suggests slower growth and higher-than-expected operating expenses in the near term.

For Q2, Shopify forecast revenue to grow in the “high-twenties” percentage rate year on year, gross profit growth in the mid-20s, and operating expenses of 35% to 36% of revenue — compared with the 33% consensus estimate for full-year 2026, per Bloomberg.

Bloomberg Intelligence analyst Anurag Rana had previously warned that Q2 growth could slow on softer spending as fuel prices rise.

markets
Helena Cheng

Cipher Digital gains despite posting underwhelming Q1 revenues

Cipher Digital shares are gaining in premarket trading following the release of its Q1 2026 results. Investors are watching to see how the company’s aggressive pivot toward AI infrastructure is showing up in its contracted revenue backlog, hoping for color on the potential for additional lease signings.

Key numbers:

  • Q1 revenue of $34.8 million (compared to analyst estimates of $36.5 million).

  • Adjusted EBITDA of -$48.2 million (estimate: -$7.3 million).

Cipher Digital rebranded from Cipher Mining in February 2026 to align with its new focus on industrial-scale data centers for AI and cloud workloads.

The company has signed a 15-year, 300-megawatt agreement with Amazon Web Services at its Black Pearl campus, as well as a 10-year lease with Fluidstack and Google at its Barber Lake site. Cipher also added a third, unnamed client in March. Together, its deals total around $11 billion in contracted revenues over the next decade.

By 2030 and beyond, Cipher anticipates having multiple gigawatts of capacity available for sale as it continues its data center construction efforts in anticipation of an enduring AI boom.

Cipher Digital expected portfolio capacity beyond 2030
(Cipher Digital)

The company has also moved to strengthen its balance sheet, securing a $200 million revolving credit facility backed by major banks including Morgan Stanley, Goldman Sachs, and JPMorgan, giving it additional flexibility to fund data center expansion.

markets
J. Edward Moreno

Pfizer reports Q1 results above consensus, reaffirms 2026 guidance

Pfizer rose in premarket trading after it reported earnings results that beat Wall Street expectations and reaffirmed its annual guidance.

For the first three months of 2026, Pfizer reported:

  • Revenue of $14.5 billion, greater than the $13.8 billion analysts polled by FactSet had expected. Growth in some of its newer treatments helped offset the decline in demand for its COVID-19 products, it said.

  • Adjusted earnings per share of $0.75, higher than the $0.72 the Street was penciling in.

For the full year, Pfizer still expects:

  • Annual adjusted earnings per share to land between $2.80 and $3.00, compared to the $2.96 analysts are currently expecting.

  • Annual revenue to hit between $59.5 billion and $62.5 billion, compared with the $61.3 billion analysts have forecast.

The pharmaceutical giant is working to reignite growth after demand for its COVID-19 products has waned and as some of its biggest moneymakers get nearer to the end of their patents’ lives. It has made investments in oncology and late last year it acquired Metsera, a biotech working on a once-monthly GLP-1 shot.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.
©2026 Sherwood Media, LLC