New York, April 29, 2026, 05:03 EDT
- U.S. stock futures inched up, with upbeat earnings sentiment balancing out worries about oil, Iran, and outlays on artificial intelligence.
- HSBC bumped U.S. equities up to “overweight” following a stretch of first-quarter earnings that outpaced forecasts, recommending investors hold more than a benchmark allocation.
- Post-earnings moves put Seagate, Bloom Energy, Coca-Cola, and General Motors back in the spotlight, following updates on results or guidance. Microsoft and the rest of the megacap tech crowd are still waiting on their turn.
Those on the hunt for top stocks today are facing a slimmer field than the label implies. Earnings, not just general artificial intelligence (AI) hype, are driving the action. Early Wednesday, U.S. stock futures ticked higher, as investors juggled a stream of corporate results, the Federal Reserve’s looming decision, and a fresh batch of megacap tech earnings.
The question on traders’ minds: does April’s rally have legs left? “For us, earnings are the most important part of the story right now,” said Kate Moore, chief investment officer at Citi Wealth, in an interview with Reuters. She noted analysts are upping their numbers this season, not cutting them. Reuters
U.S. stocks just picked up another boost. HSBC moved its call on American equities up to “overweight” from “neutral,” noting that almost 30% of U.S. firms have now posted first-quarter results—and 84% of those have outpaced Wall Street’s expectations, beating estimates by an average of 12%. The bank also flagged $430 billion in announced S&P 500 buybacks so far this year. Reuters
Seagate Technology jumped onto traders’ radars after the company projected fourth-quarter revenue at $3.45 billion, give or take $100 million—that’s well ahead of LSEG’s $3.16 billion forecast. The data-storage name is also looking for adjusted earnings per share of $5, topping the Street’s $3.97 consensus. Seagate shares shot up roughly 16% in after-hours action, with Western Digital, SanDisk, and Micron getting a boost as well.
Seagate’s latest filing highlighted the shift. The company posted $3.11 billion in fiscal third-quarter revenue, with a GAAP gross margin of 46.5% and free cash flow coming in at $953 million. Chief Executive Dave Mosley described this as the start of a “new era of structural growth,” citing a surge in data and storage needs fueled by AI applications. Seagate Investors
Bloom Energy handed investors another AI-fueled earnings headline, but this one comes with heavier risk thanks to its lofty valuation and the speed of the recent run-up. The fuel-cell company’s first-quarter revenue jumped 130.4% to $751.1 million, and it bumped its full-year 2026 outlook to a range of $3.4 billion to $3.8 billion. Chief Executive KR Sridhar put it plainly: Bloom is emerging as a “go-to choice” for on-site power. Business Wire
Coca-Cola gave investors something to lean on, lifting its full-year comparable EPS growth outlook to 8% to 9% from the previous 7% to 8%. First-quarter revenue landed at $12.47 billion, while adjusted EPS hit 86 cents, both topping LSEG projections. Volumes moved up 3%, outpacing 2% price gains.
Resilience, not shock value, is the real draw here. Coca-Cola posted a 10% jump in organic revenue last quarter, boosted by gains in concentrate sales and higher prices. Shares moved up following the earnings release, with investors eyeing businesses that can protect margins even as oil and packaging expenses climb.
General Motors makes for a complicated pick on any “best stocks to buy today” list. The automaker lifted its 2026 core profit forecast to a range between $13.5 billion and $15.5 billion after posting $4.3 billion in first-quarter EBIT—earnings before interest and taxes. Still, GM expects tariffs to shave $2.5 billion to $3.5 billion off its profit this year. Reuters
GM CEO Mary Barra flagged the Iranian conflict as her top concern, citing higher commodity and shipping expenses. Even so, GM boosted its outlook. JPMorgan’s Ryan Brinkman credited the automaker for raising guidance, calling out the “significant uncertainty and volatility.” Reuters
Calling Microsoft isn’t easy right now. Alphabet, Amazon, Meta, and Microsoft all deliver results later Wednesday, putting a spotlight on whether the nearly $600 billion the group has earmarked for AI spending will actually feed cloud and ad growth. For Joe Maginot, who manages large caps at Madison Investments, it boils down to the payoff: “The question is the return on all that capital expenditure, or capex.” Reuters
The Microsoft-OpenAI relationship is shifting again. Microsoft still stands as OpenAI’s top cloud provider and keeps its grip on the startup’s intellectual property until 2032. But with the new deal, OpenAI is free to seek out Amazon and other cloud players. D.A. Davidson’s Gil Luria called this agreement “essential” to OpenAI’s enterprise ambitions. Reuters
This could turn into a guidance trap. Nasdaq and S&P 500 slipped Tuesday, with OpenAI jitters weighing on Oracle, Nvidia, AMD and Broadcom. Oil prices and lingering Fed questions didn’t help risk sentiment. Chuck Carlson, chief executive at Horizon Investment Services, said the headlines made investors rethink growth and capex spending just ahead of hyperscaler earnings.
Today’s equity landscape doesn’t offer a clear-cut buy signal. Instead, focus narrows to a handful of names singled out by recent data: Seagate stands out thanks to storage demand; Bloom, for its AI-driven on-site power angle; Coca-Cola’s appeal is in its steady earnings; GM grabs attention with robust cash flow and guidance; Microsoft, though, becomes the heavyweight wild card once results land after the bell.
