Sector Synopsis: Investors absorbed another deluge of earnings reports while closely watching the shifting tariff landscape. President Trump is expected to announce adjustments to soften auto tariffs, while some multinational companies are pulling forward or retracting guidance due to trade-related uncertainty. Across sectors, Q1 beats were plentiful but often paired with conservative forward outlooks. Consumer strength remains selective, and housing continues to feel macro drag. Semiconductors and fintech posted a mix of results, while energy traded lower alongside crude.

Autos: General Motors (GM) posted a modest beat but delayed its investor call, citing tariff uncertainty. President Trump is expected to announce changes to ease tariff stacking on auto parts. Nissan (NSANY) reported an 11.3% y/y production drop in March. Auto retailer ABG missed on profit. Tesla’s guidance is expected after European sales figures showed steep y/y declines.

Retail, Consumer Staples & Restaurants: Coca-Cola (KO) held steady with better-than-expected Q1 revenue and solid pricing power. Kraft Heinz (KHC) lowered FY guidance, citing ongoing volatility. Amazon (AMZN) refuted claims it would list tariffs in item pricing, calling the idea unapproved. Byond (BYON) posted disappointing revenue. Brinker (EAT) beat but slid on guidance commentary. Yum! Brands (YUM) to report Wednesday.

Homebuilders & Building Products: BLDR downgraded ahead of earnings on concerns over macro softness. Leggett & Platt (LEG) rose after topping EPS expectations and reaffirming full-year guidance despite weaker volume.

Leisure, Gaming & Lodging: Royal Caribbean (RCL) beat Q1 and raised FY guidance, but shares faded as back-half yield growth appeared to decelerate. Hilton (HLT) lowered full-year room revenue growth targets and net income guidance. Marriott (MAR) acquired lifestyle brand citizenM for $355M.

Energy: Oil names trended lower with crude prices at monthly lows. CHRD and FANG were upgraded at BofA, while COP was downgraded. China removed a 125% tariff on U.S. ethane imports, boosting U.S. exporters like EPD and ET.

Banks, Brokers & FinTech: PayPal (PYPL) beat EPS but missed slightly on revenue, reaffirmed FY guide. SoFi (SOFI) topped expectations and raised guidance. S&P Global (SPGI) beat but trimmed FY growth outlook. Wells Fargo (WFC) announced a $40B buyback. Visa earnings featured below.

Biotech & Pharma: AstraZeneca (AZN) rose on strong oncology performance. Merck (MRK) announced a $1B Delaware facility. Pfizer (PFE) beat on EPS, missed on revenue, and reiterated full-year guidance. Regeneron (REGN) missed on EPS. Hims (HIMS) surged on a Novo Nordisk partnership. SpringWorks (SWTX) moved on buyout speculation.

Transports: UPS beat top and bottom lines but reaffirmed FY outlook and plans job cuts and facility closures. Rail and trucking names (CSX, UNP, JBHT) were pressured by weak shipment commentary out of the Port of LA. Honeywell (HON) raised FY EPS guidance. Sherwin-Williams (SHW) posted strong EPS and margin results.

Internet, Media & Telecom: Spotify (SPOT) beat on MAUs and premium subs, but soft guidance capped upside. Meta (META) launched a new AI assistant. Duolingo (DUOL) fell after Alphabet announced competing AI language tools.

Semiconductors & Software: Cadence (CDNS) raised full-year guide after strong bookings. ON Semiconductor (ON) downgraded. NXPI named new CEO. Arista (ANET) upgraded. Super Micro (SMCI) tumbled on Nvidia-related worries. Lam Research (LRCX) and Texas Instruments (TXN) posted strong prints.

Takeaway for Investors
Visa continues to execute well with consistent top and bottom-line beats, supported by resilient consumer spending and strong cross-border growth. However, management kept full-year guidance unchanged, citing macro and FX risks. With travel normalizing and volumes steady, investors may want to watch how payment volume trends evolve into the back half of the year amid potential tariff-related shifts in global commerce.