US OPEN: US100 trims some upside after US cash session start💡

Wall Street indices opened higher on Thursday, gaining an average of about 0.7% in the cash market. S&P 500 (US500) futures are currently adding about 0.22%, while Nasdaq-100 (US100) futures are up about 0.1%. The gains today are driven by Nvidia's quarterly results and the U.S. Court of International Trade's decision to suspend some tariff changes.

Current volatility observed on Wall Street. Source: xStation

US100

The Nasdaq-100 index, represented by the US100 contract, is trading nearly 0.1% higher today compared to yesterday's close. The index continues to maintain a strong upward trend, as reflected by the exponential moving averages (50-, 100-, and 200-day EMAs, respectively). From a technical perspective, the 21,000-point round zone remains important price support, while the historic high near 22,300 points remains resistance. The contract broke out of a local high near 21,500 points during today's session.

Source: xStation 5

News

Elf Beauty (ELF.US) shares are gaining nearly 10% after the cosmetics company agreed to acquire Hailey Bieber's cosmetics brand, Rhode, for $1 billion. But that's not all, as investors react to quarterly results and the lack of annual forecasts.

Q4 RESULTS

• Adjusted earnings per share $0.78, vs. $0.53 y/y, estimated $0.73
• Net sales $332.6m, +3.6% y/y, estimated $327.4m
• Adjusted operating profit $81.4m, +99% y/y, estimated $74.4m
• Adjusted SG&A expense $173.3m, estimated $168.9m
• Gross margin 71%, estimated 70.9%
• Adjusted net income $45.2m, estimated $42.6m

HP Inc. (HPQ.US) shares are down 8.9% after reporting a current-quarter profit forecast that missed expectations and lowering its full-year forecast due to a weaker economy and U.S. tariffs on Chinese goods.

FULL-YEAR OUTLOOK

• Adjusted EPS $3 to $3.30, company previously estimated a range of $3.45 to $3.75, analysts estimated $3.50
• Free cash flow $2.6 billion to $3 billion, company previously estimated a range of $3.2 billion to $3.6 billion

THIRD-QUARTER OUTLOOK

• Adjusted EPS $0.68 to $0.80, analysts estimated $0.91

SECOND-QUARTER RESULTS

• Adjusted EPS $0.71 vs. $0.82 y/y, estimated $0.81
• Net profit $13.22 billion, +3.3% y/y, estimated $13.14 billion
• Adjusted operating margin 7.3% vs. 8.8% y/y, estimated 8.2%
• Negative free cash flow at -$100 million vs. positive $500 million y/y, analysts estimated +$119.2 million
• The company repurchased $100 million worth of common stock

Best Buy (BBY.US) and Kohl (KSS.US) also reported their results:

Selected Best Buy financial metrics for Q1 2025:

• Adjusted earnings per share $1.15 (estimated $1.09)
• Revenue $8.77 billion (estimated $8.80 billion) USD)
• The company expects fiscal year adjusted earnings per share to be between $6.15 and $6.30, previously estimated at $6.20 to $6.60
• The company expects fiscal year revenue to be between $41.1 billion and $41.9 billion, previously estimated at $41.4 billion and $42.2 billion

Kohls' selected financial metrics for Q1 2025:

• Adjusted earnings per share -$0.13 (estimated -$0.25)
• Revenue $3.05 billion (estimated $3.03 billion)
• Fiscal year comparable sales to be between -4% and -6% (estimated -4.61%)
• Fiscal year earnings per share to be between $0.10 and $0.60 (estimated $0.43)