United Airlines cuts 2026 earnings outlook sharply on surging fuel costs

UAL slashed its 2026 EPS guidance to $7-$11 from $12-$14 despite beating Q1 estimates, as jet fuel costs overwhelm revenue gains. Lufthansa compounded the global picture by canceling 20,000 short-haul flights to conserve fuel, trimming 1% of group capacity including CityLine routes. Meanwhile, bankrupt Spirit Airlines surged 122% after President Trump floated federal assistance and called for a buyer, a speculative pop driven entirely by political positioning rather than carrier fundamentals.

Merck's kidney cancer trial fails while Moderna and AstraZeneca score wins

MRK fell nearly 4% after its experimental combination therapy with Eisai missed primary endpoints in a late-stage kidney cancer trial, removing a meaningful revenue catalyst and raising fresh questions about its oncology pipeline depth. On the other side of the ledger, Moderna secured European Commission marketing authorization for its combination flu and COVID-19 vaccine targeting adults 50 and older, opening a new commercial market. AstraZeneca's Ultomiris also met its primary endpoint in a late-stage trial for IgA nephropathy, demonstrating a meaningful reduction in urine protein.

Intuitive Surgical beat estimates and still fell 3% on the day

ISRG delivered a clean Q1 beat on both profit and revenue driven by strong surgical robot demand, yet shares dropped 3.04% in a textbook sell-the-news reaction that signals investor skittishness even toward high-quality growth names. The move suggests the market is pricing in macro uncertainty rather than rewarding fundamentals. Separately, Archimedes Tech SPAC Partners announced a $1.6 billion merger with AI chipmaker Forge Nano to bring the company public, testing whether enthusiasm for AI hardware can rehabilitate the SPAC structure as a credible listing path.