Amazon Delivers $2.5 Billion

MoffettNathanson analyst Michael Morton says he’s “betting on an underdog” with Chewy Inc. (NYSE: CHWY) stock, and upgrading it to buy. “Chewy is the ecommerce pet industry pure play and the company is fighting alone against the retail giants all battling for their bite of ~$1,700 in annual spend per pet household.”

“Chewy [is] demonstrating an ability to meet or beat consensus forecasts on customer net additions through 2025 and 2026,” adds the analyst, predicting”the volatility on Chewy’s quarterly customer additions should decrease with the company garnering ~30% of the industry’s gross customer additions.”

Chewy stock is up 1.5%.

In happier news, Wells Fargo analyst Christian Wetherbee just upgraded train operator CSX (Nasdaq: CSX) to overweight with a $40 price target.

“Recent operational headwinds are clearing and new commercial agreements (and customer diversification efforts) will likely drive volume outpeformance,” predicts the analyst, “just as volume growth is likely to decelerate at other US rails.”

CSX stock is up 0.9% on the upgrade.

Also reporting earnings this morning is Accenture (NYSE: ACN). The IT consultant beat earnings by six cents with a $3.03 per share fiscal Q4 2025 profit, and reported better than expected revenue as well — $17.6 billion.

On top of all that, Accenture forecast fiscal 2026 earnings between $13.52 and $13.90, the entire range being well above analyst projections of $12.88. Even so, Accenture stock is down 0.7% in early trading.

The Voo is also now down 0.7%.