Earnings Recap - July 22, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$IBKR** - Interactive Brokers Group reported strong Q2 results, prompting Barclays to maintain an overweight rating and raise its price target to $114. The brokerage strength and robust trading volumes likely contributed to the positive sentiment. **$BNY** - Bank of New York Mellon posted solid earnings, leading Argus Research to maintain a buy rating and raise the price target to $180. Improved asset quality and operational efficiency supported the upbeat outlook. **$FHN** - First Horizon beat Q2 earnings estimates by $0.02 with revenue topping expectations, signaling resilience in the banking sector. **$FVCB** - FVCBankcorp also beat earnings by $0.06, with revenue exceeding estimates, reflecting strong fundamentals. **$WBS** - WesBanco reported earnings beat by $0.07 and revenue above estimates, reinforcing positive momentum in regional banks. **$RPM** - RPM International beat earnings estimates and revenue topped expectations, although the stock dipped on cautious guidance. **$TE Connectivity (TE)** - Reported an earnings beat by $0.10 and revenue topped estimates, benefiting from strong demand for AI-related tools. **$WAB** - Wabtec beat Q2 estimates and raised full-year guidance, reflecting operational strength in the transportation sector. **$MBB** - MBB raised full-year margin outlook after a strong Q2 earnings jump, indicating improving profitability. **$CYJBY (Hiab Oyj)** - Q2 orders surged 16%, shares gained 8%, supported by strong sales growth. **$CYJBY (Hiab)** - Despite a guidance lift, the stock dropped 23%, possibly due to market expectations already priced in. **$CICR (Cicor)** - Shares jumped 9% after beating H1 orders estimates and returning to organic growth. **$UPS** - Data not available but noted for strong Q2 growth in earnings call transcripts. ### Misses & Negative Reactions **$IRDM (Iridium Communications)** - Missed earnings by $0.19 despite revenue topping estimates, leading to a negative stock reaction. **$EWBC (East West Bancorp)** - Earnings missed by $0.04 and revenue fell short of estimates, indicating some pressure in the banking segment. **$FRC (First Republic Bank)** - Data not available but noted for earnings pressure in the sector. **$SCA (SCA Group)** - EBITDA fell 36% due to margin pressure despite beating Q2 sales forecasts, causing mixed investor sentiment. **$SWEC (Swedencare)** - Missed second quarter revenue and profit estimates, resulting in a stock decline. **$KONE** - Q2 earnings missed despite strong orders beat, shares fell due to cautious outlook. **$MEDP (MedPlus Health Services)** - Missed Q1 2026 EPS estimates, stock fell 10.4%. **$BANKUNITED** - Earnings missed by $0.04 and revenue fell short. **$AMERISAFE** - Earnings missed by $0.08 despite revenue topping estimates. **$FFIN (First Financial Bancorp)** - Earnings beat by $0.02 but revenue fell short. **$SAND (Sandisk)** - Forecasted to plunge after July 30, reflecting concerns over earnings outlook. **$GEV (GE Vernova)** - Despite backlog hitting $176B and raised guidance, shares fell after Q2 earnings miss, reflecting market disappointment. **$EQNR (Equinor ADR)** - Earnings missed by $0.05 and revenue fell short of estimates. **$SAN (Santander ADR)** - Earnings missed but revenue topped estimates. ## Reporting Today Companies expected to report earnings today: - **$TSLA** - After market - Key metrics to watch include whether Tesla can replicate its previous quarter's 36.67% EPS beat and how the narrow trading range and bearish setup influence guidance. - **$GOOG / $GOOGL (Alphabet)** - After market - Focus on cloud growth and AI spending as critical drivers for revenue and margin outlook. Alphabet's results are seen as a moment of truth for tech sector AI leadership. - **$NVDA (Nvidia)** - After market - Watch for revenue and EPS beats amid AI-driven demand, with expectations high following recent positive analyst commentary. - **$HAL (Halliburton)** - After market - Key metrics include contract wins like the Kuwait Oil Company long-term deal and impact on revenue guidance, especially after Barclays lowered price target to $53. - **$DOW (Dow Inc.)** - Before market - Expected revenue around $12.18B; investors will watch for dividend sustainability and margin trends amid Morgan Stanley's recent price target cut to $39. - **$COF (Capital One)** - After market - Earnings and credit quality metrics will be important amid mixed banking sector signals. - **$SMCI (Super Micro Computer)** - After market - Investors will focus on margin expansion and order growth amid AI server demand. - **$IBM** - After market - Cloud and AI business growth will be key to watch. - **$MU (Micron Technology)** - After market - Memory demand and margin outlook critical amid recent chip sector volatility. - **$ADTN (Adtran)** - After market - Revenue and margin trends amid network infrastructure demand. - **$QCOM (Qualcomm)** - Data not available but likely to report soon; watch for 5G and AI-related growth. - **$TXN (Texas Instruments)** - Data not available; focus on analog chip demand and margin guidance. - **$AIR (Airbus)** - Data not available; watch for commercial aircraft deliveries and backlog updates. - **$COF (Capital One Financial Corporation)** - After market - Credit quality and loan growth metrics will be key. - **$BAC (Bank of America)** - Data not available but expected soon; watch for consumer spending trends. - **$JPM (JPMorgan Chase)** - Data not available but recent transcripts suggest strong investment banking performance. Light earnings calendar for other sectors today. ## Earnings Themes - Revenue trends show mixed results: banks like IndusInd Bank and BNY Mellon report strong profit growth and asset quality improvements, while some industrials and tech companies face margin pressures. - Margin pressures are evident in companies like SCA and Adani Total Gas, where EBITDA and margins fell despite revenue growth, reflecting cost inflation and AI investment impacts. - Guidance sentiment is mixed: GE Vernova raised guidance despite a Q2 miss, while RPM International's cautious outlook weighed on shares. Halliburton's contract wins support optimism, but Barclays lowered its price target. - AI remains a central theme, with companies like Nvidia, Alphabet, and Super Micro benefiting from strong demand, while others face margin compression due to AI-related investments. - Banking sector shows resilience with multiple regional banks beating estimates, but some misses and cautious outlooks highlight ongoing credit and economic uncertainties. ## Earnings Trade Ideas 1. **$TSLA** - Given Tesla's previous quarter EPS beat of 36.67%, a positive surprise again could drive a strong post-earnings rally. However, the narrow trading range and bearish setup suggest hedging downside risk with options strategies ahead of the report. 2. **$IBKR** - With Barclays raising the price target and maintaining an overweight rating after strong Q2 results, Interactive Brokers presents a compelling play on sustained trading activity and market volatility. Consider long positions ahead of next earnings or catalyst events. 3. **$HAL** - Halliburton’s recent contract win with Kuwait Oil Company and raised guidance provide a positive backdrop despite a lowered price target. Investors might consider selective exposure to benefit from energy sector tailwinds and infrastructure spending. 4. **$BNY** - Bank of New York Mellon’s strong earnings and raised price target by Argus suggest upside potential. The improving asset quality and operational efficiency make it a candidate for value-oriented earnings trades. Traders should watch upcoming reports from tech giants **$GOOG**, **$NVDA**, and **$TSLA** closely, as these will set the tone for the tech sector amid AI investment debates.