Independent financial journalism and market intelligence
Independent financial journalism and market intelligence
Independent financial journalism and market intelligence
Investment theme
Earnings season analysis
This desk follows the earnings evidence, company disclosures, competitive shifts, and valuation questions that can change investor expectations across earnings.
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Ed Yardeni raised his 2026 year-end S&P 500 target to 8,400, citing strong earnings momentum and a higher probability of a 'Roaring 2020s' scenario. The move puts him among the most bullish strategists on Wall Street.
H&R Block reported FY26 revenue of $3.95 billion, up 4.9%, raised its dividend by 10%, and guided FY27 revenue to $4.11–4.16 billion with adjusted EPS of $6.04–6.24.
Home Depot CEO Ted Decker is on temporary medical leave, with operations chief Ann-Marie Campbell and CFO Richard McPhail stepping in. The news comes just before the company's earnings report, raising questions about leadership continuity and the housing market's impact on the retailer.
Lumentum Holdings reported record quarterly revenue of $1.01 billion, up 109% year over year, driven by AI data-center demand for optical components. The company guided Q1 FY27 revenue to $1.225–1.275 billion, well above expectations, as supply constraints persist.
Nebius Group (NBIS) surged as much as 34% after reporting Q2 revenue of $582 million, up 454% year over year, driven by AI cloud demand. The company raised its contracted power target to 5 GW for 2026 and secured multiple deals exceeding $1 billion.
Cisco Systems beat Q4 estimates on strong AI networking demand, with revenue up 18% to $17.3B and EPS of $1.22. FY27 guidance is solid but includes margin caution, leaving the stock mixed after-hours.
CoreWeave's Q2 revenue jumped 112% to $2.58 billion, backlog hit $104 billion, and the company raised full-year guidance, sending shares up 19%.
Cisco, Cerebras, and Coherent report earnings today, offering a fresh read on AI demand across networking, accelerators, and optical components. Cisco's results are the most anticipated, with analysts expecting record revenue and strong AI-related growth.
Defaults and non-performing loans in private credit hit multi-year highs even as fundraising remains strong. Managers call it normalization, but analysts watch for further deterioration.
SpaceX's IPO lockup is unusually complex, with multiple tranches spread over 18 months. The first major unlock on August 6, 2026, alone exceeds the entire original float, setting up a test of investor appetite.
Eli Lilly reported a strong Q2 2026, with revenue up 48% on Mounjaro and Zepbound. The company raised its full-year revenue guidance, but EPS guidance was trimmed due to $3.03 per share in acquired IPR&D charges. We analyze the quarter, guidance, and what it means for investors.
SpaceX's first major post-IPO lockup release hits today, with up to 911.5 million shares becoming eligible for sale. The unlock more than doubles the public float and arrives as the stock has already fallen sharply. We analyze the mechanics, the risks, and what it means for investors.
Palantir's Q2 2026 results show 93% revenue growth, a 47% operating margin, and a raised outlook. But with the stock up 30% and trading at a forward P/E of 60, investors must weigh the AI tailwinds against a demanding valuation.
SpaceX reported Q2 2026 capex of $18.4 billion, six times higher than a year ago, driven by $15.8 billion in AI infrastructure. Despite a revenue beat, shares fell as investors weighed the scale of spending against near-term profitability.
Palantir delivered record Q2 2026 results with 93% revenue growth and a Rule of 40 score of 155%, but the stock's implied valuation of $350 billion raises questions about sustainability.
Palantir reports Q2 earnings on Aug. 4 after the close. The stock has fallen 40% from its peak, and analysts expect 80% revenue growth. The company's financials show accelerating revenue and a strong balance sheet, but valuation and AI narrative risks loom.
ON Semiconductor reports Q2 results Monday after the bell. The stock has rallied 57% year to date on AI power optimism, but valuation and margin questions linger.
SpaceX reports Q2 earnings Tuesday, its first since going public. Investors will scrutinize Starlink's growth, AI-related expenses, and Starship progress as the stock hovers near post-IPO lows.
Amazon's Q2 2026 earnings beat expectations, driven by AWS's fastest growth in 18 quarters, but a $20 billion capex increase and a $26 billion free cash flow swing raise questions about the sustainability of its AI investment.
Apple's fiscal Q3 2026 results were overshadowed by component shortages tied to the AI boom, leading to a sharp sell-off. Revenue drivers remain solid, but margin pressure and supply risks persist.
Palantir's market value has surged to $295 billion, yet its stock is down 23% over the past year. With a trailing P/E of 138 and revenue growth of 84.7%, the market is pricing in perfection. Can the company deliver?