April went out with a bang. The S&P 500 had its best month in five years, gaining roughly 10% for the month. The Nasdaq closed Friday at a new all-time high. Apple reported $111 billion in revenue last week and jumped 4%. Companies across the S&P 500 are beating earnings estimates by nearly triple the historical average. It has been a remarkable run.
This week is smaller by comparison. The Mag 7 names are in the rearview. Here are three names on my radar.
ConocoPhillips (COP)
ConocoPhillips reported first-quarter earnings on Thursday, and the initial reaction was a 2% drop to $123. The numbers were softer year-over-year — earnings per share came in at $1.78, down from $2.23 a year ago, as oil prices pulled back from their war-driven highs of 2025.
What the reaction missed was what management said about the second half. Cash flow generation is expected to be “up materially” in H2, driven by ConocoPhillips’ unhedged exposure to oil and LNG prices. Production volumes were solid, capital returns stayed strong, and the company is adding Permian activity in the back half of 2026. The soft Q1 reflects where oil prices were. The forward guidance reflects where management thinks they’re going.
At $123, the stock is 9% off its March high. Jefferies has a $160 price target on the stock. The bad news from Q1 is priced in. The H2 setup is what deserves attention now.
Advanced Micro Devices (AMD)
AMD reports Tuesday after the close. Intel’s data center blowout two weeks ago sent a clear signal — the same customers spending heavily on Intel’s AI server chips are allocating to AMD’s MI300X accelerators. Wall Street is looking for $9.84 billion in revenue, up 32% from a year ago, and $1.30 per share in earnings, up 35%.
A fair warning. The stock has more than doubled since late January, running from around $195 to $360. Options markets are pricing roughly an 8% swing in either direction — about $389 on the upside or $331 on the downside from Friday’s close. A stock that has already doubled heading into an earnings report can move fast in either direction. If the numbers or guidance disappoint, there’s room for a meaningful pullback.
The fundamental setup looks strong going in, and Intel’s results pointed the way. But AMD Tuesday is a binary event, and position sizing matters more here than it does with most names.
Berkshire Hathaway (BRK.B)
Greg Abel held his first annual shareholder meeting as CEO of Berkshire Hathaway yesterday in Omaha, with Warren Buffett watching from the front row. The results were reassuring. Operating earnings from Berkshire’s wholly owned businesses — insurance, railroads, energy — rose 18% year-over-year. Abel addressed the transition directly and gave shareholders a clear, businesslike presentation. Record cash on the balance sheet.
The stock has been pricing in uncertainty about that transition all year. BRK.B peaked around $542 last May when Buffett stepped down and has been grinding lower to $473. Today’s meeting gave investors their first real look at what Berkshire looks like under new management. The business results were good, the cash pile remains enormous, and Abel made his case. Some of the uncertainty that’s been weighing on the stock for a year got addressed today. That’s a setup worth keeping an eye on.
