May 20, 2026, was one of the busiest days of the current earnings season, with a wave of quarterly reports before and during trading hours, a major IPO debut — and the market's growing anticipation for Nvidia's results due after the close.
Lowe's Beats Estimates — Housing Headwinds Remain
Home improvement retailer Lowe's (LOW) reported better-than-expected Q1 2026 results. Revenue came in at $23.08 billion, up 10.3% year-over-year. Adjusted EPS was $3.03, above the analyst consensus of $2.97.
The company posted 0.6% comparable sales growth — the fourth consecutive quarter of positive comps — with online sales jumping 15.5%. Strength was driven by appliances, home services, and Pro customer sales.
Despite the beat, LOW stock experienced sharp intraday volatility: it opened lower, touched a low of $208, then recovered to around $220 (+0.94%). The company reaffirmed full-year 2026 guidance: revenue of $92–94 billion, flat to +2% comp sales growth, and adjusted EPS of $12.25–$12.75.
Analysts noted that the housing market remains the most challenging since the financial crisis, keeping pressure on the stock despite solid operational results.
Analog Devices Posts Record Quarterly Revenue
Analog Devices (ADI) delivered its strongest quarter ever, with record revenue of $3.62 billion — up 37% year-over-year and 15% sequentially. Adjusted EPS was $3.09, beating the consensus of approximately $2.90.
The industrial segment, representing 50% of total revenue, surged 56% — a clear signal of strong demand for chips used in industrial automation and AI data center infrastructure. ADI guided Q3 revenue of approximately $3.9 billion, above market expectations.
TJX Continues Strong Momentum
TJX Companies (TJX), the off-price retail giant behind T.J. Maxx and Marshalls, reported exceptionally strong results. Net sales rose 9% to $14.3 billion, while comparable store sales jumped 6% — well ahead of expectations.
Net income was $1.3 billion, and diluted EPS surged 29% to $1.19. The company raised full-year guidance, including adjusted EPS of $5.08–$5.15 and a share buyback program of $2.75–$3.0 billion.
Lincoln International Debuts — $421 Million IPO
On the IPO front, the standout was Lincoln International (LCLN), the independent investment bank that began trading today on the NYSE. The company priced its IPO at $20 per share — the high end of the $18–$20 range — raising approximately $421 million.
The stock opened at around $22.50, signaling positive initial demand. The offering was led by Goldman Sachs, Morgan Stanley, and BMO Capital Markets.
Looking Ahead: Nvidia and Intuit After the Close
All eyes are now on Nvidia (NVDA), which will report its Q1 FY2027 results after today's closing bell. Consensus estimates call for revenue of approximately $78.5–$79.2 billion (about 80% year-over-year growth) and non-GAAP EPS of approximately $1.78.
Intuit (INTU) also reports after close, with expected revenue of approximately $8.54 billion and non-GAAP EPS of approximately $12.50.
Macro: Markets Rise Despite FOMC Minutes
Major indices posted solid gains: the S&P 500 rose 0.94% to 7,422, the Nasdaq added 1.33% to 26,214, and the Dow gained 1.24% to 49,974. The Russell 2000 surged 2.23%, reflecting strong momentum in small-cap stocks.
Markets took the release of the April FOMC minutes in stride. The Fed held rates at 3.50%–3.75% while acknowledging elevated inflation and geopolitical uncertainty. Oil prices dropped sharply — around 5.9% — on reports of potential progress on an Iran deal.
The bottom line: today was a reminder that earnings season still holds plenty of surprises, both in the strength of results (ADI, TJX) and structural headwinds (LOW). But the headline event of the evening remains Nvidia. The NVDA print and after-hours reaction are likely to set the tone for the rest of the week.
