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In happier news, S&P 500 component company Campbell Company (Nasdaq: CPB) beat earnings by four cents this morning. Campbell’s earned $0.77 in its fiscal Q1 2026 on sales of $2.7 billion — also better than expected. Management then proceeded to raise full-year guidance to a range of from $2.40 to $2.55 per share, versus the Street consensus of $2.45.
Campbell’s stock is up a modest 0.4% premarket.
This article will be updated throughout the day, so check back often for more daily updates.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed down 0.3% on Monday as higher yields on U.S. 10-Year Treasury notes tempted investors away from stocks and toward bonds. As yields reversed over the evening, though, so too is sentiment about stocks.
Premarket, the Voo is looking like it might open 0.1% higher today.
How long will that optimism last, though? Perhaps less than 48 hours. In Washington, D.C., today, the Federal Open Markets Committee is discussing its next interest rate move: to cut or not to cut. Most pundits forecast a 25 basis point (that’s 0.25% to you and me) cut when the decision is announced tomorrow, so there’s unlikely to be a huge bump in stock prices if that’s the actual news.
On the other hand, if the FOMC decides not to cut… or pairs a cut with commentary suggesting this might be the last cut for a while… or — heaven forfend — for some reason decides to raise rates tomorrow, you can expect all heck to break loose on the markets, and the Voo to tumble down at least a small cliff.
Tune in tomorrow for the conclusion to this story. In the meantime, we have some earnings news for you.
Earnings
Homebuilding giant Toll Bros. (NYSE: TOL) reported its Q4 numbers last night, and the news wasn’t great. Toll “missed earnings” by 30 cents, reporting a profit of $4.58 per share where Wall Street expected $4.88. Surprisingly, sales were ahead of forecasts at $3.4 billion.
Adding to investor dismay, Toll Bros. said its backlog at the end of Q4 was only $5.5 billion, down 15% from a year ago. This implies weakening demand for new homes. Toll said it has 4,647 homes awaiting building right now, versus 5,996 a year ago.
And yes, if you did the math right, the 22.5% decline in unit backlog, in the context of only a 15% decline in dollar backlog, means that home prices are still rising. No wonder houses aren’t moving faster!
Toll Bros. stock is down more than 5% premarket.
S&P 500 component company AutoZone (NYSE: AZO) missed its earnings target, too, this morning, reporting Q1 profit of $31.04, $1.83 worse than expected. Revenue came closer to the mark at $4.6 billion, but was still slightly short of analysts’ forecast.
Autozone stock is down about 2% premarket.