Earnings Recap - July 10, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$WDFC** - WD-40 Company reported a strong Q3 2026 earnings beat, supported by robust fundamentals and margin expansion. The company’s solid performance and raised price target by Stifel to $305 reflect confidence in its growth trajectory. The stock reacted positively to the earnings beat and optimistic outlook. **$CIRCLE** - Circle received final regulatory approval to establish a U.S. national trust bank, a significant milestone that propelled the stock higher by 14%. This regulatory green light supports Circle’s expansion in the stablecoin and crypto banking space, enhancing its growth prospects. **$DELTA** - Delta Air Lines reported record revenue and a profit beat despite surging fuel costs. The company reaffirmed its profit guidance, citing rising premium demand and expects higher airfare to persist. The strong operational performance amid cost pressures has been well received by investors. **$CHIPMOS** - ChipMOS reported Q2 revenue of $231.8 million, up 28.7% year-over-year, signaling strong demand in semiconductor testing and assembly services. The revenue growth beat expectations, reflecting the ongoing strength in chip manufacturing supply chains. **$BULTEN** - Bulten’s earnings call transcript revealed a 16% jump in Q2 profit driven by restructuring efforts that lifted the outlook for the remainder of 2026. The positive operational changes have improved investor sentiment. ### Misses & Negative Reactions No notable misses overnight. ## Reporting Today Companies expected to report earnings today: - **$INTC** - Before market open - Investors will focus on Intel’s Q2 2026 results amid a semiconductor sector selloff and watch for guidance on turnaround progress. Stifel recently raised Intel’s price target to $120, signaling optimism despite recent stock weakness. - **$META** - After market close - Meta faces scrutiny over potential EU fines related to addictive features on Facebook and Instagram. Earnings will be closely watched for any impact from regulatory risks and guidance on advertising revenue amid digital ad market challenges. - **$MU** - After market close - Micron Technology is consolidating after a recent 4.5% rally. Key metrics include data center gross margin, which hit 87% last quarter, and capital expenditure plans. Investors will assess if Micron can sustain momentum amid sector rotation. - **$AMZN, $MSFT, $PLTR** - data not available for specific earnings dates today, but Palantir’s recent 23% bounce off lows is under analyst scrutiny due to valuation concerns and competition from Big Tech rivals. ## Earnings Themes - **Revenue Trends:** Semiconductor-related companies like ChipMOS and Micron continue to show strong revenue growth driven by AI and data center demand. Airlines such as Delta demonstrate resilience with record revenues despite macro headwinds like fuel costs. - **Margin Pressures or Expansion:** WD-40 and Bulten highlight margin expansion through operational efficiencies and restructuring. Micron’s high data center gross margins underscore premium pricing power in memory markets. Conversely, airlines face margin pressure from fuel but offset by premium pricing. - **Guidance Sentiment:** Delta’s reaffirmed profit guidance and Intel’s optimistic price target raise expectations for a sector turnaround. Meta’s guidance will be scrutinized for regulatory impact and advertising outlook. Circle’s regulatory approval signals confidence in growth prospects. ## Earnings Trade Ideas 1. **WD-40 Company ($WDFC)**: The strong Q3 beat and margin expansion, combined with a raised price target, make WD-40 a compelling defensive consumer staple play amid market volatility. Investors seeking steady growth with pricing power should consider adding exposure. 2. **Delta Air Lines ($DAL)**: Despite surging fuel costs, Delta’s record revenue and profit beat, along with reaffirmed guidance, suggest resilience in premium travel demand. A trade idea could be to buy on dips ahead of continued earnings momentum and potential fare increases. 3. **Micron Technology ($MU)**: With data center gross margins at 87% and ongoing AI-driven demand, Micron remains a key semiconductor growth story. However, watch for consolidation near key support at $854.50. A tactical position could be considered on signs of a breakout or stabilization. 4. **Circle ($CIRCLE)**: The approval to establish a U.S. national trust bank is a significant growth catalyst. Given the 14% rally post-approval, investors might look for pullbacks to enter this fintech/crypto hybrid poised for expansion in stablecoin banking services. In summary, semiconductor and tech-related earnings continue to dominate with strong revenue and margin trends, while regulatory and macro factors create mixed sentiment in social media and airline sectors. Investors should focus on companies demonstrating operational resilience and positive guidance revisions.