Oscar rises after upbeat guidance offsets underwhelming Q4 results

Oscar Health rose in premarket trading after reporting impressive full-year guidance that more than offset Q4 results that failed to live up to analysts’ expectations.

For the last three months of 2025, Oscar reported:

A loss per share of $1.24, compared to the $0.89 loss per share analysts polled by FactSet were expecting.
Revenue of $2.8 billion, lower than the $3.1 billion Wall Street was penciling in.
A medical cost ratio of 95.4%, higher than the 91.1% analysts expected.

For the full year in 2026, Oscar expects:

Revenues between $18.7 billion and $19 billion, compared to the $12.4 billion analysts had penciled in.
Its medical cost ratio to sit between 82.4% and 83.4%, while analysts had expected 85.5%.

Health insurers have been under pressure for the past year amid rising health costs. Oscar, a provider of ACA Marketplace plans, has taken a hit as tax credits for the program lapsed in January.

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Max Knoblauch21m

Paramount once again enhances its Warner Bros. bid without boosting its per-share offer

Paramount continues to do everything except the one thing that would vault its Warner Bros. Discovery bid into a winning position.

On Tuesday, the company beefed up its bid for WBD by adding an incremental payout if its deal closing were to be too slow, as well as offering to cover breakup expenses if WBD’s tie-up with Netflix were to end.

But again, Paramount stopped short of raising its $30-per-share value.

Getting into the nitty gritty, Paramount said it will pay a shareholders a “ticking fee” of $0.25 per share for every quarter the deal hasn’t closed after the end of 2026. (For comparison, Netflix and WBD expect their deal to close 12 to 18 months from when their merger deal was struck, which was December 5 of last year.)

Paramount also pledged to fund the $2.8 billion termination fee to Netflix, which has been a sticking point for the WBD board. Paramount said it would also eliminate a possible $1.5 billion refinancing cost of debt.

The company’s last attempt to boost its offer included a $40.4 billion personal guarantee from billionaire Larry Ellison, the father of Paramount CEO David Ellison.

Event contracts show a slight boost in Paramount’s odds to end up in control of Warner Bros. following the announcement, though Netflix is still firmly the favorite.

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

PARAMOUNT ENHANCES ITS SUPERIOR $30 PER SHARE ALL-CASH OFFER FOR WARNER BROS. DISCOVERY AND PROVIDES UPDATE ON REGULATORY PROGRESS | Paramount

But again, Paramount stopped short of raising its $30-per-share value.

The company’s last attempt to boost its offer included a $40.4 billion personal guarantee from billionaire Larry Ellison, the father of Paramount CEO David Ellison.

Event contracts show a slight boost in Paramount’s odds to end up in control of Warner Bros. following the announcement, though Netflix is still firmly the favorite.

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

Max Knoblauch48m

Harley-Davidson sinks on falling motorcycle sales, weaker-than-expected 2026 profit forecast

Harley-Davidson posted a loss per share more than twice as bad as Wall Street had expected in its fourth quarter. The company, which reported Q4 and full-year results on Tuesday, posted an adjusted loss of $2.44 per share, compared to Wall Street estimates of a $1.06 loss per share.

The motorcycle maker is contending with declining sales of, well, motorcycles. Shipments fell 4% in the fourth quarter from the year prior, while analysts had anticipated a 22% increase. Harley’s full-year gross margin was about 4 percentage points lower year over year, a decline the company said was driven by tariffs.

Harley CEO Artie Starrs called 2025 a “challenging year” and said the company is “taking deliberate actions to stabilize the business, restore dealer confidence, and align wholesale activity with retail demand.” Near-term results reflect those actions, Starrs said.

The year ahead didn’t offer much optimism for investors. For its motorcycle division, the company forecast a full-year operating income of between a $40 million loss and a $10 million profit. Wall Street analysts polled by FactSet expected $128 million in profit. The company said its full-year guidance could be impacted by a new strategic plan, set to be announced in May.

Luke Kawa2h

Credo soars after preliminary Q3 revenues beat estimates and management projects annual sales growth of 200%

Credo Technology Group is earning itself some new believers.

The seller of active electrical cables (AECs) and other electrical connectivity solutions for data centers announced stellar Q3 preliminary sales results after the close on Monday, with guidance that calls for rapid growth to continue.

Shares are up about 15% as of 8 a.m. ET.

Management said Q3 revenues would range between $404 million and $408 million, above the upper end of its guidance and the $341 million forecast from Wall Street. Going forward, the company projects that revenues will grow in the mid-single digits quarter on quarter, propelling revenue growth up more than 200% year on year through its current fiscal year.

“We reaffirm CRDO as our Top Pick for 2026 and view this announcement positively given management’s continued execution with its AEC product offering and our underlying belief in the longevity of AECs,” wrote Needham & Co. analyst Quinn Bolton, who has a $220 price target on the shares. “At the Needham Growth Conference, management stated that they believe the industry is still in the early innings of the AEC adoption curve, pointing to only one customer that has fully deployed AECs across potential use cases (front-end networks, scale-out networks and switch racks) and stated that visibility continues to be strong over the next twelve months and beyond.”

Bolton boosted his sales outlook for Credo’s next fiscal year and the one after that following this news.

Max Knoblauch3h

Spotify soars as Q4 monthly average user growth and gross margins set records

Music streamer — and soon to be physical book seller — Spotify reported impressive Q4 results on Tuesday that are sending shares up 15% in premarket trading.

Spotify said it added more than 38 million monthly active users, a quarterly record that brought its total to 751 million. Wall Street analysts polled by FactSet expected 744.7 million. The number of premium, paying subscribers grew 10% to 290 million, slightly better than estimates of 289.4 million. Revenue for the quarter rose 7% to €4.53 billion (~$5.4 billion), which fell broadly in line with estimates, while its 33.1% gross margin figure was also a new company record.

Looking ahead to the current quarter, Spotify forecast an addition of 8 million net monthly active users for a 759 million total (vs. the 752.7 million expected). The streamer guided for 293 million premium subscribers in Q1, compared to the 293.5 million consensus estimate.

The company, which raised its US subscription prices this month, expects to book €4.5 billion, or $5.36 billion, in Q1 revenues. Wall Street expected €4.58 billion, or $5.41 billion.

Hyunsoo Rim4h

TSMC jumps as revenues soared 37% in January

TSMC is up 2.6% in premarket trading, as of 6:15 a.m. ET Tuesday, after the Taiwanese chipmaker reported that January revenues jumped 37% to NT$401.3 billion ($12.7 billion).

That leap is a fair way above the company’s full-year growth outlook of 30%.

Much of the rise was fueled by booming demand for advanced AI chips made for customers including Nvidia and Apple. In January, TSMC revealed plans to spend $52 billion to $56 billion in capital expenditure across 2026, up sharply from $40.9 billion in 2025.

The January figure builds on the world’s biggest chip manufacturer’s rip-roaring Q4, where revenue, earnings, and sales and margins guidance all beat estimates.

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