Earnings Recap - July 16, 2026 (EOD)

 ## Today's Earnings Scorecard The earnings season continued with a mixed bag of results across sectors, but the technology and financial sectors drew particular attention. Semiconductor-related companies faced pressure amid concerns from South Korean chipmakers, despite strong results from Taiwan Semiconductor Manufacturing Company (TSM). Meanwhile, healthcare and financial firms showed resilience with several beats and raised outlooks. Notably, UnitedHealth Group and Abbott Laboratories delivered strong beats and guidance raises, reinforcing confidence in healthcare demand. Conversely, Netflix disappointed with a sales miss and weak guidance, triggering a selloff. ## Earnings Winners **$UNH** - +5% - Beat by: Earnings per share (EPS) and revenue significantly exceeded estimates; raised full-year earnings outlook citing improved cost controls and strong membership growth. **$ABT** - +3.5% - Beat by: Double beat on EPS and revenue; raised 2026 profit forecast driven by strength in diagnostics and heart devices. **$CFG** - +4% - Beat by: Citizens Financial Group reported better-than-expected earnings and revenue growth; Jefferies maintained a Buy rating and raised price target to $90. **$JPM** - +2.5% - Beat by: JPMorgan posted $21.2 billion in Q2 net income, up 41%, with CEO Jamie Dimon noting the economy is "close to as good as it gets"; raised full-year net interest income guidance to $105.5 billion. **$ASML** - +3% - Beat by: Strong Q2 results with raised price target to $2400 by JP Morgan, reflecting robust demand for semiconductor equipment amid AI chip growth. **$PROG** - +3% - Beat by: Progressive showed policy growth in Q2, maintaining its position as a top property and casualty insurer. **$GSBC** - +2% - Beat by: Great Southern Bancorp posted earnings beat with margin expansion amid restructuring. **$PLD** - +2.5% - Beat by: Prologis beat Q2 earnings estimates and raised guidance on record lease signings, benefiting from AI infrastructure demand. ## Earnings Losers **$NFLX** - -7% - Missed: Netflix reported a slight Q2 beat on earnings but missed on sales; issued weak Q3 guidance citing increased competition and subscriber growth challenges, leading to a late selloff. **$IBM** - -5% - Missed: IBM’s preliminary earnings report rattled investors with concerns over software declines and AI spending impact. **$WMT** - -2% - Missed: Walmart’s momentum slowed, with a downgrade citing valuation concerns despite efforts to adapt to changing consumer behavior. **$MS** - -1.5% - Missed: Morgan Stanley’s stock under pressure despite raised price target; cautious outlook on retail crypto expansion tempered enthusiasm. **$SK HYNIX** - -9% - Missed: South Korean memory chipmaker shares plunged amid tech selloff and concerns over cyclical memory demand. **$COREWEAVE** - -10% - Missed: CoreWeave shares fell sharply after earnings, reflecting concerns over valuation and AI market fatigue. ## After-Hours Earnings **$TSM** - Results: Reported record Q2 with revenue up 33%, strong gross margins, and raised capex and revenue forecasts driven by AI chip demand; AH reaction: shares slipped amid broader chip selloff. **$NFLX** - Results: Slight Q2 earnings beat but sales miss and weak guidance; AH reaction: shares dropped sharply. **$ELV** - Results: Elevance Health reported strong Q2 results with solid revenue growth; AH reaction: data not available. **$GEA** - Results: GE Aerospace beat Q2 estimates and raised outlook on services growth; AH reaction: data not available. **$MSFT** - Results: Data not available; market watching closely given CEO comments on AI model restrictions. ## Earnings Themes Today - Revenue Trends: Strong revenue growth was evident in healthcare and financial sectors, with companies like UnitedHealth, Abbott, and Citizens Financial showing robust top-line expansion. Semiconductor revenues surged at TSMC, reflecting AI-driven demand, though investor caution remains. - Margin Commentary: Margin expansion was a highlight for some, including Great Southern Bancorp and Prologis, supported by operational efficiencies and pricing power. However, margin pressures were noted in consumer retail and software sectors. - Guidance Tone: The tone was mixed; healthcare and financial firms largely raised or maintained guidance, signaling confidence in underlying demand. Conversely, Netflix and some tech names issued cautious or lowered outlooks, reflecting competitive and macroeconomic headwinds. ## Tomorrow's Earnings Watch - **$UAL** - Before Market Open - Key metric to watch: Premiumization impact on revenue and margin trends amid ongoing travel recovery. - **$PNC** - Before Market Open - Key metric to watch: Loan growth and net interest income outlook in a rising rate environment. - **$BLK** - After Market Close - Key metric to watch: Asset management fee growth and inflows amid market volatility. - **$HON** - After Market Close - Key metric to watch: Industrial automation demand and margin sustainability. ## Key Takeaway Today's earnings underscore a bifurcated market where healthcare and financial sectors continue to demonstrate resilience and growth, buoyed by structural demand and effective cost management. In contrast, technology and consumer discretionary sectors face headwinds from competitive pressures, valuation concerns, and cyclical uncertainties, particularly in semiconductors and streaming media. The mixed guidance reflects cautious optimism, with AI-related demand driving semiconductor capex but also fueling volatility. Investors should monitor upcoming financial and industrial reports for further clarity on economic momentum and sector rotation.