5 Things to Watch on
May 8, 2026

Stocks are up more than +0.6% today as April's nonfarm payrolls report came in well above expectations, with +115K jobs added against a +63K consensus. Hiring was led by health care, transportation, and retail, while federal government payrolls continued to shrink and IT shed -13K positions. The unemployment rate held at 4.3%.

Amazon (AMZN) Web Services is working to restore a Virginia data center after a thermal event caused a power loss yesterday evening, triggering an outage that surpassed 12 hours. Power has been restored to a portion of the affected infrastructure and additional cooling capacity is online, with services including those used by Coinbase (COIN) still partially impacted. Full recovery is expected within several hours, with AMZN shares up slightly in premarket trading.

Lyft (LYFT) fell more than -3% in after-hours trading despite a strong Q1 top line, with gross bookings up +19% YoY to $4.9B, active riders climbing +17% to a record 28.3M, and revenue of $1.7B beating expectations by $70M. The stumble came at the bottom line, where LYFT posted EPS of $0.04 against a $0.06 estimate. The company is moving aggressively into Europe via acquisitions including Freenow and Gett's UK business, narrowing the gap with market leader Uber (UBER).

Nintendo (NTDOY) will raise its Switch 2 console price to $500 from $450 starting September 1, absorbing a ¥100B hit from rising memory costs, tariffs, and Iran conflict-related shipping expenses. NTDOY guided to ¥370B ($2.4B) in FY27 operating profit, well below the ¥480B analyst estimate, with Switch 2 unit sales forecast at 16.5M, down from 19.9M in the device's launch year. Legacy Switch hardware is expected to fall -47% to 2M units, with NTDOY shares down -28% YTD.

Wendy's (WEN) is up +6% in premarket trading after Q1 revenue of $540.6M topped expectations by $22M, up +3.3% YoY, though systemwide sales fell -5.5% and EPS of $0.12 missed last year's $0.19 amid traffic declines and cost inflation. Interim CEO Ken Cook framed Q1 as early-stage progress on a broader turnaround, with new menu items and operational improvements underway. WEN guided to flat full-year systemwide sales and EPS of $0.58.