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StocksMedium•8 May 2026•

1 min read

TPR and PGY Shares Diverge Following Q1 Earnings and Guidance Updates

Key Facts

1TPR shares fell 12% despite beating Q3 earnings estimates and raising FY26 guidance.

2PGY shares rose 4.5% after Q1 earnings beat estimates, driven by higher revenues and lower expenses.

Financial markets witnessed a sharp divergence in stock performance following the release of quarterly earnings reports. Tapestry Inc (TPR) shares plummeted 12% despite beating third-quarter earnings estimates and raising its fiscal year 2026 guidance. This decline was primarily fueled by investor concerns regarding potential tariffs and persistent weakness in the Kate Spade brand. Conversely, Pagaya Technologies (PGY) shares rose 4.5% after its first-quarter earnings surpassed expectations, driven by robust revenue growth and disciplined expense management. Furthermore, Pagaya's upward revision of its 2026 net income guidance bolstered market confidence. These movements highlight how market sentiment can be heavily influenced by macroeconomic risks and brand-specific challenges despite positive headline earnings.