Earnings boost stocks to new records

Plus: The U.S. sues the New York Times alleging discrimination

Author

Matt Davis
May 06, 2026

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News You Need2Know

What’s the stock market up to, eh?*

Companies mentioned in today’s newsletter

Earnings boost stocks to new records

(Google)

The stock market is back at all-time highs, driven by a resilient economy and a wave of robust corporate earnings. Several specific companies led the charge yesterday after easily beating analysts' profit forecasts: Chemical giant DuPont $DD ( ▲ 1.61% ) saw its stock rally after reporting better-than-expected quarterly profits and raising its full-year financial forecasts. The tech sector is also celebrating; Pinterest $PINS ( ▲ 6.86% ) shares skyrocketed after smashing first-quarter sales and profit targets. Meanwhile, beverage powerhouse AB InBev $BUD ( ▲ 8.74% ) jumped thanks to strong international growth from brands like Michelob Ultra, Corona, and Stella Artois. Industrial players like American Electric Power Co. $AEP ( ▲ 1.77% ) and Cummins $CMI ( ▲ 2.76% ) also posted solid gains after topping first-quarter earnings expectations. A weaker U.S. dollar (see more below 👇🏻) is also providing favorable tailwinds for multinationals like Coca-Cola $KO ( ▲ 0.37% ) , Philip Morris $PM ( ▲ 0.16% ) , and InterContinental Hotels $IHG ( ▲ 1.6% ) , boosting their overseas revenues. For publicly listed companies, it’s “game on,” basically. Still, not every stock is a winner right now. Despite reporting stronger-than-expected results, Palantir Technologies $PLTR ( ▼ 6.93% ) fell due to lingering worries about software competition. Although I don’t feel too sorry for them, honestly, given some of the things they’ve been saying about the “defanging” of Nazi Germany after World War II recently. 🤦🏻

Quote of the Day

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Fares will go up. There is no way around it.

The U.S. sues the NYT alleging discrimination

(Getty)

The federal government is taking The New York Times $NYT ( ▼ 1.24% ) to court, with the Equal Employment Opportunity Commission (EEOC) filing a federal civil rights lawsuit against the prominent media organization, claiming it unlawfully discriminated against a (checks notes) white male employee. The unnamed employee filed a complaint stating he was passed over for a sought-after deputy real estate editor position in 2025 because of his race and sex.

No disrespect mate, but why do you want to be a deputy real estate editor for the New York Times in the first place? I thought us white guys were all about colonizing Mars, these days…

According to the lawsuit, the publication's “stated race and sex-based representation goals influenced the decision not to advance” the man's candidacy. To support these claims, the complaint directly quotes the Times's own diversity and inclusion reports, as well as internal Slack conversations among newsroom leaders discussing diversity hiring trends.

I can only imagine how juicy those Slack channels are, honestly.

This high-profile lawsuit reflects a significant shift in the EEOC's focus under the second Trump administration. Republican chair Andrea Lucas has redirected the agency to pursue cases that align with the president's political agenda, specifically taking aim at corporate diversity programs that she argues discriminate against white men. This has led to mounting legal action against institutions the administration has identified as hostile, including major media organizations and universities. The lawsuit follows a months-long investigation and a brief, failed attempt at a voluntary mediation process called "conciliation," which the agency abruptly cut off on April 21.

Inside Time’s most influential companies

How do you capture a year in business? According to Time’s editorial director Emma Barker, the 2026 "100 Most Influential Companies" list reveals that "the private sector is having bigger influence than ever.”

A major trend is the evolution of AI. While pioneers like Google remain central, Barker notes that "we're seeing that, that influence expand beyond just the AI labs... into sort of these tangential industries.” For example, traditional businesses like Corning $GLW ( ▲ 1.34% ) and Caterpillar $CAT ( ▲ 3.41% ) are now securing massive contracts to build the physical infrastructure supporting AI's explosive growth.

The list also features surprise disruptors. Barker explains they search for an "X factor," seeking companies "central to the... collective zeitgeist" or those taking a "very specific action" to shake up their industries. Think of Wegovy maker Novo Nordisk $NVO ( ▲ 1.08% ) and gambling prediction firm Polymarket $POLYMARKET ( 0.0% ) .

Finally, Barker highlights a crucial theme for modern success: “corporate storytelling is more important than ever.” Whether it’s Hailey Bieber building her brand Rhode on YouTube, Gap revitalizing its heritage brand $GAP ( ▼ 0.13% ) , or SpaceX wanting to…cough…”colonize Mars,” success hinges on understanding “what story are these companies trying to tell us?" Ultimately, the true architects of our future are those "having influence beyond just their own business success," she said.

Song of the Day: Boy Soda, ‘Chase Your Tail.’

"Chase Your Tail" by BOY SODA (aka Brae Luafalealo) is a smooth neo-soul track that marks a sophisticated evolution for the Sydney-based R&B artist. That’s right, Sydney. They have R&B there! Who knew?!

How a weaker dollar is quietly making life more expensive

A hidden force is pushing up the costs of everything from groceries to vacations: A weakening U.S. dollar. Big multinationals are reaping the benefits. During recent earnings calls, executives from corporate giants like Philip Morris $PM ( ▲ 0.16% ) and Coca-Cola $KO ( ▲ 0.37% ) have touted a "favorable currency impact" adding to their bottom lines. Elie Maalouf, CEO of InterContinental Hotels $IHG ( ▲ 1.6% ) , bluntly said, "In many cases, we’ve got a weaker dollar, which is not unhelpful."

However, the story is grim for smaller domestic businesses and everyday buyers reliant on imports. Travis Madeira of LobsterBoys, a domestic lobster-shipping business, laments, "The exporters are gonna have the advantage when it comes to the dollar weakening." Similarly, David Navazio, CEO of the medical supplier Gentell, notes that currency fluctuations have forced him to raise prices. "A year ago, none of these were concerns," he told the AP, adding, "And it always hurts the consumer."

Ultimately, the shrinking value of the greenback means Americans are paying more for energy, food, and apparel, among a host of consumer prices:

(Google)

Why Spirit’s collapse means higher air fares

(Google)

The collapse of Spirit Airlines $SAVEQ ( ▲ 0.43% ) last weekend marks the end of an era for rock-bottom air travel and the beginning of a pricier reality for consumers. For years, the Florida-based carrier anchored the market with deep discounts, famously offering flights like a $25 one-way ticket from Atlanta to Fort Lauderdale. Spirit’s ultra-discount model created the "Spirit effect," a phenomenon that actively forced larger rival airlines to introduce their own basic-economy fares to stay competitive.

Now, experts warn that ticket prices will inevitably soar without Spirit's downward market pressure, a situation worsened by rising jet-fuel costs resulting from the Iran war. Domestic fares have already surged 24% between early January and April. As analyst Courtney Miller bluntly told the Wall Street Journal, "Fares will go up. There is no way around it.”

While JetBlue $JBLU ( ▲ 1.04% ) President Marty St. George argues that "air travel is still a really, really good value," everyday passengers disagree. Liz Myers, a single mother from Evanston, Illinois, captured the stark reality for budget-conscious fliers: "We didn’t fly Spirit because we can afford other things and we’re just being cheap. We flew Spirit because we’re broke.”

#Buzzkill.

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The CEOs of NVIDIA, Tesla, & Microsoft Agree on One Secret

This year, the world’s biggest tech CEOs all said the same thing:

NVIDIA’s Jensen Huang called robotics a “once-in-a-lifetime opportunity.”

Microsoft’s Satya Nadella said 2026 is when AI will deliver real impact.

Tesla’s Elon Musk predicted, “AI and robots will make everyone wealthy.”

That opportunity’s arrived. Miso Robotics is leading the charge in bringing robotics solutions to the $1T fast-food industry.

Miso’s Flippy Fry Station AI robot has already logged 200K+ hours for fast-food brands like White Castle. Now, Miso has added iconic restaurant brands like Jersey Mike’s, Jamba, and Cinnabon as new customers.

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Should you check your 401(k) today?

👍️ 

Record levels, baby!

Poll of the day: TIME for you to weigh in

Pick the most influential company of 2025-26, from TIME's long list

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Poll of the day: Start spreading the news

We asked: “If you were a Gen Z grad, where would you move for an entry-level job?”

You answered:

🟨🟨🟨⬜️⬜️⬜️ Birmingham, Alabama: Because who needs the cultural vibrancy of a real metropolis when I can launch my career in the "flourishing" advanced-materials and bioscience sectors? Sure, the median wage is a whopping $59,004, but it's more than $0. (56)
🟨🟨🟨🟨⬜️⬜️ Tampa, Florida: I’ve always dreamed of spending my vibrant twenties managing the migrating wealth of Northeastern retirees. (77)
🟨⬜️⬜️⬜️⬜️⬜️ San Jose, California: Earning an average of $200,000 a year sounds incredibly glamorous until you remember that Silicon Valley is one of the priciest places on earth and that salary barely covers rent for a closet. (32)
🟨🟨⬜️⬜️⬜️⬜️ Columbus, Ohio: If corporate banking doesn't pan out, I can always fulfill my lifelong passion of manufacturing military drones. (42)
🟨🟨🟨🟨⬜️⬜️ Raleigh, North Carolina: I love catching the tail-end of a trend! I’ll definitely pack my bags for the city that just slid down to fifth place after reigning at number one for the past two years. (89)
🟩🟩🟩🟩🟩🟩 I'm moving to New York city, because everybody's talkin' at me, but I can't hear a word they're sayin...only the echoes of my mind. 🎶 (113)

409 Votes via @beehiiv polls

Although I warn you, friend, this might not end well…

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