May 19 sees a heavy slate of quarterly reports and IPO developments, with several notable data points worth tracking.

Home Depot — Meets expectations, reaffirms guidance

Home Depot (HD) reported its fiscal Q1 2026 results this morning. Revenue came in at $41.77 billion, topping the analyst consensus of $41.51 billion and rising 4.8% year-over-year. Comparable sales grew 0.6% (0.4% in the U.S.).

Adjusted EPS landed at $3.43 versus the $3.41 estimate. Net earnings edged down to $3.29 billion from $3.43 billion in the prior-year quarter.

The company reaffirmed its full-year guidance: revenue growth of 2.5% to 4.5%, operating margins of 12.4%–12.6%. The market reaction was mixed — shares slipped about 2.5% in early trading on margin and consumer spending concerns.

KE Holdings — Strong profitability despite volume declines

KE Holdings (BEKE), the Chinese real estate platform, surprised the market with adjusted EPS of $1.42 — well above the $0.91 consensus. Revenue declined 19% year-over-year to RMB 18.9 billion ($2.7 billion), still slightly above the RMB 18.55 billion estimate.

Gross transaction value (GTV) fell 15.6% to RMB 711.7 billion, with new-home transactions plunging 37.2% and existing-home transactions down 7.9%. Despite this, gross margins climbed from 20.7% to 24.1% and net income jumped 46.7%.

Shares surged 6%–8% intraday as investors focused on margin expansion and cost efficiency amid ongoing China property market headwinds.

Keysight Technologies — Results due after the close

Keysight Technologies (KEYS) is scheduled to report fiscal Q2 2026 results after market close. Consensus estimates stand at EPS of $2.32 on revenue of roughly $1.71 billion. The company previously guided for ~30% year-over-year revenue growth when it reported Q1 in February.

IPO market: Cerebras, Lincoln International, and more

The IPO calendar remains active. Cerebras Systems (CBRS) — the year's largest tech IPO — continues its post-debut cooldown. The stock recently closed around $297, after pricing at $185 and closing its first day at $311 (a 68% gain). Shares are currently trading in the $272–$324 range.

Amanat Acquisition Corp (AMAN) began trading on Nasdaq today at $10.12, above its $10 offering price.

Lincoln International (LCLN) — the Chicago-based investment bank — is preparing for a significant IPO. The company plans to offer roughly 21 million shares in an $18–$20 range, raising approximately $400 million at a market cap of about $2 billion. Goldman Sachs and Morgan Stanley are leading the offering. Trading is expected to begin May 20.

Several new S-1 filings emerged in recent days, including MetaOptics (uplisting), Tarsier Pharma, and additional SPAC vehicles.

The bottom line

Earnings season continues with mixed results — BEKE delivers strong profitability against a weak Chinese backdrop, Home Depot holds steady under margin pressure, and Keysight reports later today. On the IPO side, Lincoln International marks the next significant listing after Cerebras's blockbuster debut.