Earnings Recap - July 13, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **No notable beats overnight** ### Misses & Negative Reactions **No notable misses overnight** ## Reporting Today Companies expected to report earnings today: - **$WFC** (Wells Fargo) - Before market open - Market focus on revenue growth and margin conversion amid banking sector volatility. - **$MPGPY** (PageGroup plc) - After market close - Watch for Q2 2026 sales trends and trading update; recent transcript indicates mixed regional performance with Asia and Americas offsetting Europe. - **$GJNSY** (Gjensidige Forsikring ASA) - After market close - Q2 2026 earnings call scheduled; recent reports show strong margins offsetting legal headwinds. - **$KBGGY** (Kongsberg Gruppen ASA) - After market close - Q2 2026 earnings call; recent results show record revenue topping NOK 10 billion but stock fell. - **$SMOPF** (Smartoptics Group ASA) - After market close - Q2 2026 earnings call; company reported 55% revenue growth driven by AI demand. - **$LHX** (L3Harris Technologies) - data not available but recent news includes FAA contract wins. - **$TSMC** (Taiwan Semiconductor Manufacturing Company) - Q2 earnings expected Thursday, July 16; recent June sales surged 68% month-over-month and 36% year-over-year, signaling strong AI-driven demand. - **$LLY** (Eli Lilly) - data not available for earnings but in focus due to new Kisunla data presentation and analyst upgrades. - **$AXP** (American Express) - data not available for earnings but recently upgraded by JP Morgan with raised price target. - **$KEYS** (Keysight Technologies) - data not available for earnings but analysts expect strong AI investment growth; recent upgrades noted. - **$BIIB** (Biogen) - data not available for earnings but analyst sentiment turning bullish. - **$COF** (Capital One Financial) - data not available for earnings but recently upgraded. - **$NIO** (Nio) - data not available for earnings but recently upgraded by Goldman Sachs. ## Earnings Themes - Revenue trends continue to show strength in AI-related sectors, particularly semiconductor and technology companies. TSMC’s recent June revenue surge of 68% month-over-month and 36% year-over-year highlights robust demand for AI chips. - Margin pressures appear mixed. Some industrial and insurance companies like Gjensidige Forsikring ASA are managing to offset legal and operational headwinds with strong margin performance, while others face challenges from raw material costs and geopolitical tensions. - Guidance sentiment is cautiously optimistic in many sectors. For example, PageGroup plc maintained guidance despite mixed regional sales results, suggesting resilience amid macro uncertainties. Analyst upgrades for companies like American Express, Keysight Technologies, and Biogen reflect confidence in growth prospects, especially tied to AI and technology investments. - Geopolitical tensions, particularly in the Middle East with fresh US-Iran strikes and Strait of Hormuz concerns, are influencing market sentiment and could impact earnings outlooks for energy and industrial sectors. ## Earnings Trade Ideas 1. **Keysight Technologies ($KEYS)** With a recent 24% rally forecast by analysts and multiple upgrades citing strong AI investment growth, Keysight is positioned to benefit from the expanding AI infrastructure market. Investors might consider a long position ahead of its earnings report, anticipating continued margin expansion and robust revenue growth. 2. **Wells Fargo ($WFC)** Wells Fargo reports Q2 earnings before the market open today. Given the banking sector's current volatility and the focus on margin conversion, a close watch on Wells Fargo’s revenue and profitability metrics could provide a trade opportunity. Positive surprises could lead to a rebound in financial stocks amid broader market uncertainty.