TLDR
- Ross Stores jumped up to 9% in premarket trading after beating Q2 earnings and raising full-year guidance
- Crypto stocks Coinbase, Robinhood, and Strategy all surged following Trump’s call for Congress to pass the Clarity Act
- Strategy swung to a $1.4B unrealized gain on its Bitcoin holdings as Bitcoin climbed to around $78,500
- Moderna recovered 4% after losing 24% Thursday, following its earlier triple-digit gains tied to a cancer vaccine trial
- OSI Systems, Aveanna Healthcare, and Flowers Foods all fell sharply after weak earnings or dilutive share offerings
Stock futures edged higher on Friday as markets tried to recover from a sharp selloff the day before. A pullback in U.S. Treasury yields helped ease pressure on investors, though caution remained with Brent crude near $93 a barrel.
Ross Stores was a standout in premarket trading, jumping between 8.5% and 9%. The off-price retailer reported Q2 sales of $6.3 billion, up 14% year over year. Comparable store sales rose 10%, and earnings per share came in at $2.66.
The results also included a $253 million tariff refund under the IEEPA program, which helped the bottom line. Ross raised its full-year EPS outlook to $8.61 to $8.77, up from its previous range of $7.50 to $7.74. The company also said it plans to open 115 stores in 2026, more than previously planned.
Crypto Stocks Climb on Clarity Act Momentum
Coinbase rose 5.6%, Robinhood advanced 5.3%, and Strategy gained 10% ahead of the opening bell. All three stocks have moved higher this week after President Donald Trump called on Congress to pass the Clarity Act, a crypto regulatory bill.
Strategy’s rally was also driven by a strong run in Bitcoin. The cryptocurrency climbed nearly 22% over five sessions to around $78,500. That move pushed Strategy’s Bitcoin holdings from a period of deep losses into an estimated $1.4 billion unrealized gain.
Earlier this year, when Bitcoin hit $58,000 in July, Strategy had been sitting on unrealized losses of more than $13 billion. Friday’s gain marks a clear turnaround from that low point.
Moderna Steadies After a Volatile Week
Moderna shares rose 4% on Friday after falling 24% the day before. The Thursday drop came as investors gave back some of the gains from earlier in the week, when the stock surged on positive trial results for a personalized cancer vaccine developed with Merck.
OSI Systems fell 14% after reporting Q4 revenue of $484.1 million, down 4.1% year over year and about $45.6 million below estimates. Its FY2027 revenue guidance of $1.875 to $1.93 billion also came in under the $1.94 billion consensus.
Aveanna Healthcare Holdings dropped 9% after existing shareholders priced a 15 million share secondary offering at $11.75 per share. The company itself is not issuing new shares and will not receive any proceeds.
Flowers Foods fell 5% after Q2 revenue came in at $1.19 billion, missing estimates by $40 million. The company also cut its full-year sales and earnings outlook below what analysts had expected.
As of Friday morning, markets were attempting a measured recovery, with crypto-linked stocks and strong earnings reports from Ross Stores providing the clearest upward momentum of the session.
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