Watchlist — April 23, 2026
Earnings season is in full swing. Yesterday's tape was loaded with catalysts — blowout beats, guidance hikes, biotech spikes, and post-squeeze hangover. Today we're trading the follow-through. Here's the full breakdown.
2nd day Longs
2nd day Shorts
Gap Up Go
Gap Down Go
2ND DAY LONGS
GEV — GE Vernova
Setup: 2nd Day Long | Catalyst: Massive Q1 2026 earnings beat + record guidance raise
Yesterday GEV printed one of the cleanest earnings reactions of the year, surging ~13% to new all-time highs. The company reported Q1 EPS of $1.98 (est. $1.90), revenue of $9.34B (est. $9.27B), and — the real story — total orders of $18.3B, up 71% year over year. Backlog now sits at $163B, up $13B sequentially. Adjusted EBITDA jumped 87% YoY. Management raised full-year 2026 revenue guidance to $44.5–$45.5B and lifted the EBITDA margin target to 12–14% (from 11–13%). The electrification segment alone booked $2.4B in data center orders in Q1 — more than all of 2025. Gas turbine pricing on new 2026 orders is running 10–20% above Q4 2025 levels. The stock ran from $817 in late March to $1,116 close yesterday — this is a structural momentum name.
Key Levels: $1,109 → $1,128 → $1,142 | Above $1,142: free zone / price discovery
NHP — National Healthcare Properties
Setup: 2nd Day Long | Catalyst: Fresh IPO — listed April 22 at $12
NHP is a self-managed healthcare REIT focused on outpatient medical facilities and senior housing properties. The company priced its IPO at $12 per share — below the $13–$16 range — raising $462M from 38.5M Class A shares. Proceeds earmarked to repay ~$186M in revolving credit and fund future acquisitions. Being priced below range means institutional demand was cautious, which also means the float is relatively clean — any early buying pressure above IPO price becomes meaningful. Classic 2nd-day setup: watch for a hold above the $12 IPO price as the floor. If it reclaims and builds, the setup is live.
Key Levels: $11.80 → $12.00 (IPO price — key floor)
BA — Boeing
Setup: 2nd Day Long | Catalyst: Q1 2026 earnings beat, turnaround thesis intact
Boeing reported Q1 revenue of $22.2B (est. $21.85B), core loss per share of -$0.20 versus -$0.68 expected — a massive 70% EPS beat. The company delivered 143 commercial jets in the quarter with the 737 MAX line running at 42/month and 787 at 8/month. Full-year free cash flow guidance of $1–3B reaffirmed. Backlog now stands near $700B. The turnaround story is slow but directional — and this print gives the bulls a legitimate 2nd-day entry if the tape cooperates. Watch for continuation above the key levels on volume.
Key Levels: $230 → $232.50 → $234.75 → $236
INBX — Inhibrx Biosciences
Setup: 2nd Day Long | Catalyst: Ozekibart trial data + BLA filing + M&A speculation
This is the biotech wildfire from yesterday. INBX spiked to $155.29 intraday before fading hard to close ~$114 — a textbook 2nd-day setup with wide range and leftover momentum. The catalyst: updated Phase 1/2 data for ozekibart (INBRX-109) plus FOLFIRI in heavily pretreated metastatic colorectal cancer showed a 20% objective response rate and 87% disease control rate — strong numbers in a brutal indication. The company also filed a BLA with the FDA for ozekibart in conventional chondrosarcoma. On top of the science, Reuters reported that major pharma names including Merck are eyeing INBRX-106, which could be valued at $8B+. Stifel initiated with Buy and a $150 target. High beta, high risk — size accordingly.
Key Levels: $108.50 → $121
2ND DAY SHORTS
CAR — Avis Budget Group
Setup: 2nd Day Short RDR | Catalyst: Short squeeze unwind, structural collapse risk
CAR has gone from ~$140 in late March to $848 intraday high last week — a near 500% run in under a month driven by one of the most extreme short squeezes in recent memory. According to Seeking Alpha, two hedge funds accumulated over 100% economic interest in the float via shares and swaps, locking up 82% of available shares and triggering a gamma squeeze. Now the unwind is beginning — the stock fell 22–23% in Wednesday’s session after trading at $848. This is classic RDR: the squeeze did its damage, the catalyst is aging, and the fundamentals (negative net income of ~$747M, heavily leveraged balance sheet) are nowhere near the price. Q1 2026 earnings due April 29 — a known negative catalyst risk. The short here is all about the continued unwind of an artificial market structure, not a business opinion.
Key Levels: $571 → $482 → $422 → $370
SON — Sonoco Products
Setup: 2nd Day Short | Catalyst: Post-earnings weakness in industrial packaging
Sonoco Products is a mature industrial packaging name that has been under pressure as margin compression from raw material costs continues to weigh on the business. No major catalyst spike here — this is a slow roll short where the setup is about fading any strength into resistance. Watch for volume confirmation at the key levels.
Key Levels: $48.70 → $47.00 → $46.50 → $45.25
GAP UP GO
NOK — Nokia
Setup: Gap Up Go | Catalyst: Q1 2026 earnings report — April 23 (today)
Nokia reports Q1 2026 earnings this morning. The stock sold off 5.5% yesterday as investors de-risked ahead of the print — management had previously flagged expectations for a “seasonally weaker Q1.” Several analysts downgraded ahead of the report (SEB Equities to Hold, Grupo Santander to Underperform), which sets the bar lower. If the results come in ahead of the muted expectations, a relief rally is the play. NOK has been riding the global 5G infrastructure buildout narrative. If it gaps up on a beat, the levels below are your entry triggers on any early tape strength.
Key Levels: $10.70 → $10.90 → $11.30 → $11.75
QS — QuantumScape
Setup: Gap Up Go | Catalyst: Q1 2026 earnings release — April 22 after close
QuantumScape released Q1 2026 business and financial results yesterday after the close. The solid-state lithium-metal battery company remains pre-revenue but is the leading pure-play in next-gen EV battery tech. Any positive update on commercialization timelines, partnership progress, or manufacturing milestones can drive a sharp gap. Given the tight float and speculative nature of the name, this is a momentum play only — follow the tape, don’t predict the direction before open.
Key Levels: $8.60 → $9.00 → $9.15 → $9.40 → $9.70
APLD — Applied Digital
Setup: Gap Up Go | Catalyst: $7.5B hyperscaler lease deal announced this morning (April 23)
This is the morning’s biggest fundamental catalyst. Applied Digital announced before the open that it has signed a lease agreement with a new U.S.-based investment-grade hyperscaler at its Delta Forge 1 campus — a 430 MW AI Factory in the southern U.S. The deal represents $7.5B in total contracted value over a 15-year lease term, covering 300 MW of critical IT load built for AI and HPC infrastructure. This brings total contracted lease revenue above $23B, with more than 50% now backed by investment-grade tenants. The stock is up 10%+ pre-market. APLD has been building a 1 GW+ AI infrastructure platform with campuses in North Dakota (Polaris Forge 1 & 2) and now the south (Delta Forge 1). With CoreWeave, Oracle, and now a second unnamed hyperscaler as tenants, the revenue visibility story is materially de-risked. Gap and go if the open holds — this is a legitimate news catalyst, not hype.
Key Levels: $34 → $35.75 → $37
GAP DOWN GO
NOW — ServiceNow
Setup: Gap Down Go | Catalyst: Earnings beat but stock sold off 14–15% after hours
ServiceNow beat every Q1 2026 metric — subscription revenue growth, cRPO, EPS — and raised full-year guidance. But the stock cratered 14-15% after hours. The culprit: management cited geopolitical disruption (the Iran conflict) as a headwind to subscription revenue in certain regions, spooking investors sensitive to forward guidance risks. When a stock drops this hard on a beat, the message is clear: the market had priced in perfection. NOW had been a momentum leader trading near $130. Post-gap, this is a gap-and-go short as trapped longs unwind. Trade the tape, not the business quality.
Key Levels: $92 → $88 → $87 | Below $87: fast zone — little support until mid-$70s
IBM — International Business Machines
Setup: Gap Down Go | Catalyst: Beat on EPS and revenue, but stock fell 6–7% on guidance maintenance
IBM delivered a strong Q1: revenue $15.92B (+9% YoY, beat est. $15.62B), adjusted EPS $1.91 (beat est. $1.81), free cash flow $2.2B. Software +11%, Infrastructure +15%, Z17 mainframe units +100%+ for fourth straight quarter. And the stock tanked 6-7% after hours. Why? Management reiterated full-year guidance without raising it — in a market that expected a guidance hike given the Q1 strength, a flat reiteration reads as a disappointment. Also, persistent investor fear around AI disrupting IBM’s mainframe/COBOL core keeps the stock range-bound. Trade the gap-down momentum, not the fundamental debate.
Key Levels: $235 → $230.75 → $221
