Earnings Recap - July 06, 2026 (EOD)

 ## Today's Earnings Scorecard The earnings season continued with a focus on semiconductor and technology sectors, reflecting the ongoing AI-driven demand surge. Notably, semiconductor-related companies showed mixed results amid concerns about supply chain and memory pricing dynamics. AbbVie also reported, highlighting a significant bought IPR&D expense impacting EPS. Meanwhile, electric vehicle makers like Lucid and Rivian drew attention with delivery and revenue beats, though Rivian’s stock faced pressure from a large share offering announcement. Broadcom extended its chip supply deal with Apple, boosting investor confidence. ## Earnings Winners **$ABBV** - +X% - AbbVie reported Q2 2026 results including a $291 million bought IPR&D expense, which impacted GAAP and adjusted diluted EPS by $0.17. Despite this, the company maintained strong guidance for FY2026 adjusted diluted EPS at $13.91-$14.11 and Q2 adjusted diluted EPS at $3.57-$3.61. The approval of TEPKINLY + R2 in Europe for relapsed follicular lymphoma adds to its growth prospects. **$LCID** - +X% - Lucid Group shares surged following strong EV delivery and production results, signaling robust demand and operational execution in the electric vehicle sector. **$AMAT** - +X% - Applied Materials advanced 33% in Q1, reflecting strong momentum in semiconductor equipment demand driven by AI infrastructure investments. **$BROADCOM (AVGO)** - +4% - Broadcom’s stock popped on news of extending its Apple silicon supply deal through 2031, underscoring confidence in sustained demand from a key customer. ## Earnings Losers **$RIVN** - -X% - Rivian’s stock tumbled on the announcement of a 75 million share offering, despite forecasting quarterly revenue above estimates. The dilution concern weighed on investor sentiment. **$META** - -X% - Meta Platforms faced pressure despite recent rallies, as the market digests the company’s pivot to a new cloud business. Regulatory and competitive challenges remain headwinds. **$INTC** - data not available but noted among semiconductor stocks facing volatility amid AI-related supply concerns. ## After-Hours Earnings **$TSM** - Results not yet released - Market awaits Taiwan Semiconductor Manufacturing’s Q2 report, expected to be pivotal given its leadership in AI chip production and recent rally. **$MS** - Results not yet released - Morgan Stanley’s Q2 earnings will be closely watched for insights into financial sector strength amid mixed economic signals. **$COIN** - Results not yet released - Coinbase’s after-hours report will be important following Ripple’s full regulatory approval in the EU, which could impact crypto market dynamics. ## Earnings Themes Today - Semiconductor companies continue to benefit from AI-driven capital expenditure, but concerns about memory pricing and supply bottlenecks persist. Samsung’s profit beat on runaway AI memory demand exemplifies this trend. - Margin commentary varied, with some companies like AbbVie absorbing one-time expenses but maintaining solid adjusted earnings outlooks. - Guidance tone remains cautiously optimistic, with many firms maintaining or raising forecasts amid ongoing demand for AI infrastructure and electric vehicles. - Electric vehicle makers are showing operational improvements, but share offerings and competitive pressures create volatility. ## Tomorrow's Earnings Watch - **$TSM** - Before market open - Key metric to watch: AI chip demand and margin outlook amid recent rally. - **$MS** - Before market open - Key metric to watch: Trading revenues and wealth management performance. - **$COIN** - After market close - Key metric to watch: Crypto transaction volumes and regulatory impact commentary. ## Key Takeaway Today's earnings underscore the bifurcated nature of the market, where AI-related sectors such as semiconductors and electric vehicles are driving growth and investor enthusiasm, while legacy tech and financials face mixed pressures. The semiconductor supply chain remains a focal point, with strong demand tempered by pricing and inventory concerns. Meanwhile, biotech and pharma firms like AbbVie demonstrate resilience through innovation and strategic approvals. Investors should monitor upcoming heavyweight reports from TSMC and Morgan Stanley for further clarity on the sustainability of these trends.