5 Things to Watch on
April 22, 2026

U.S. stocks are up more than +0.6% today after closing negative in the prior session, with oil prices rising as President Trump extended his ceasefire deadline with Iran indefinitely, citing deep divisions within Tehran's leadership. Markets are reading the moment carefully as risk appetite has cooled without tipping into outright aversion, with Wall Street continuing to price in a fluid and increasingly volatile Middle East narrative.

Boeing (BA) is up +4% in premarket trading after Q1 revenue of $22.2B, up +14% YoY, edged past estimates, with a loss of $0.20 per share beating the $0.67 consensus. Net loss narrowed sharply YoY, reflecting improving production and delivery momentum after years of safety and supply-chain setbacks. Investors are also watching for management commentary on whether the Iran conflict could disrupt deliveries or pressure airline customers amid elevated jet fuel prices.

Philip Morris International (PM) is down -0.2% in premarket trading after Q1 EPS of $1.96 beat the $1.83 consensus, with smoke-free products now accounting for 43% of net revenue and available in 108 markets. Organic revenue grew +2.7%, driven by combustibles pricing, though total shipment volume fell -1.9% on cigarette and oral SFP declines. Full-year EPS guidance was trimmed slightly to a midpoint of $8.44 vs. the prior $8.46, with organic revenue growth of +6% expected.

GE Vernova (GEV) is up sharply in premarket trading after Q1 revenue of $9.3B, up +16% YoY, beat estimates, with EPS of $17.44 crushing the $2.00 consensus. The company raised full-year revenue guidance to $44.5-$45B and more than doubled its free cash flow outlook to $6.5-$7.5B, while lifting EBITDA margin guidance to 12%-14%. The Electrification segment, backed by a $42B backlog up 4x since 2022, now targets $14.3B in 2026 revenue following the Prolec GE acquisition, with Power guiding to +17% organic growth and expanding margins.

Vertiv Holdings (VRT) is down -4% in premarket trading after Q1 net sales of $2.65B matched estimates and EPS of $1.17 beat the $1.01 consensus, though EMEA revenue fell -20% with organic sales down -29%. Full-year guidance was raised above Street, with net sales of $13.8B, organic growth of +30%, and EPS of $6.35, representing roughly +51% growth from 2025. Executive Chairman Dave Cote credited VRT's scale and technology edge, saying customers facing tough infrastructure challenges "are choosing us," with the company's S&P 500 addition in March reflecting its market leadership in critical digital infrastructure.