Earnings Recap - July 14, 2026 (EOD)

 ## Today's Earnings Scorecard The earnings season continued with a strong showing from major financial institutions and select technology names, while some software and medical device companies struggled. JPMorgan Chase and Goldman Sachs delivered robust beats, lifting their shares significantly. Conversely, IBM's disappointing report and profit warning triggered a sharp selloff, dragging down software and IT services stocks. Medical device stocks also faced pressure following weak surgical volume signals from HCA. Overall, the market reacted positively to the bank earnings, reflecting confidence in the economy, but concerns lingered around AI spending and its uneven impact across sectors. ## Earnings Winners **$GS** - +6.9% - Beat by: Earnings and revenue topped estimates with record results across major businesses. Guidance: Maintained strong outlook amid booming trading and investment banking. **$JPM** - data not available for price move - Beat by: Reported $16.9 billion profit in Q2, boosted by market volatility and strong trading revenue. Guidance: CEO Jamie Dimon described the banking environment as "close to as good as it gets," signaling confidence. **$FAST** - data not available for price move - Beat by: Q2 sales grew 14.7%, EPS steady, with strong contract growth despite tariff and margin pressures. Guidance: Maintained positive outlook. **$AAOI** - data not available for price move - Beat by: Earnings beat Q4 2026 forecasts, stock jumped 29%. Guidance: Positive momentum in semiconductor segment. **$PHOE** - data not available for price move - Beat by: Joined the list of big gainers after strong Q2 results. Guidance: Positive. **$SKHY** - data not available for price move - Beat by: Strong Q2 earnings contributed to rally. Guidance: Upbeat. ## Earnings Losers **$IBM** - -23% - Missed: Preliminary Q2 revenue fell short of estimates; profit warning issued due to a spending shift to AI that was not anticipated. Issue: Hardware segment weakness and AI spending not keeping pace with productivity gains caused investor concern. **$ISRG** - data not available for price move - Missed: Shares hit 52-week lows amid a broader pullback in medical devices and multiple price-target cuts. Issue: Weak surgical volumes flagged by HCA and industry headwinds. **$PHOE** - data not available for price move - Missed: Despite being a gainer, some software stocks including PHOE faced margin pressure and cautious guidance. Issue: Margin compression concerns. **$PHOE** - data not available for price move - Missed: Software stocks broadly pummeled on IBM’s Q2 miss, indicating sector-wide challenges. Issue: AI spending shifts and cautious enterprise budgets. **$PHOE** - data not available for price move - Missed: Software and IT services firms hit hard by IBM’s warning. Issue: Uncertainty around AI infrastructure investments. **$PHOE** - data not available for price move - Missed: Medical device stocks tumbled after HCA flagged weak surgical volumes. Issue: Sector-specific demand softness. **$PHOE** - data not available for price move - Missed: Phoenix Education Partners fell over 12% on Q3 earnings and guidance miss. Issue: Flat revenue and margin compression. ## After-Hours Earnings **$IBM** - Results: Preliminary Q2 revenue and EPS missed estimates - AH reaction: Shares plunged more than 23%, marking the worst day in decades. **$META** - Results: data not available - AH reaction: Awaiting results; recent reports indicate AI-related layoffs and legal challenges. **$SPCX** - Results: data not available - AH reaction: Awaiting results. **$C** (Citigroup) - Results: Beat EPS by $0.42, revenue topped estimates - AH reaction: Shares fell despite beat, possibly due to cautious outlook or profit-taking. **$BAC** (Bank of America) - Results: Profit jumped 27% driven by trading and AI-driven investments - AH reaction: Shares slipped despite strong results. **$WFC** (Wells Fargo) - Results: Profit jumped on interest income boost - AH reaction: data not available. ## Earnings Themes Today - Revenue trends showed strength in financials, particularly driven by trading and investment banking activity amid market volatility. - Margin commentary was mixed; banks reported solid margins, while software and medical device companies faced margin pressures due to shifting AI spending and weaker demand signals. - Guidance tone was confident among banks, with JPMorgan and Goldman Sachs optimistic about the economic backdrop and AI-driven growth. Conversely, IBM and medical device firms expressed caution, highlighting challenges in AI spending alignment and surgical volumes. ## Tomorrow's Earnings Watch - **$MSFT** - Before market open - Key metric to watch: AI-related revenue growth and cloud services demand. - **$ORCL** - Before market open - Key metric to watch: Software license sales and cloud transition progress. - **$NVDA** - After market close - Key metric to watch: AI chip demand and guidance amid sector-wide AI investment trends. - **$AMZN** - After market close - Key metric to watch: AWS growth and robotics investments. - **$META** - After market close - Key metric to watch: AI compute spending and advertising revenue trends. ## Key Takeaway Today's earnings underscore a bifurcated market narrative where financial institutions are thriving on strong trading and investment banking activity, reflecting a resilient economy and investor appetite for AI-driven growth. However, the technology sector, particularly software and hardware providers like IBM, is grappling with a disconnect between AI spending and productivity gains, leading to cautious guidance and sharp stock declines. Medical device companies also face headwinds from weaker procedural volumes. Investors should watch closely how upcoming tech giants report on AI monetization and cloud services, as these will be critical to sustaining the current earnings momentum and market optimism.