Earnings Recap - July 30, 2026 (Morning)

 ## Overnight Earnings Movers Companies that reported after yesterday's close or before today's open: ### Beats & Positive Reactions **$COUR** - Coursera reported Q2 earnings beating estimates by $0.07 per share with revenue topping expectations. The company's solid performance reflects continued demand for online education platforms, supporting a positive market reaction. **$BHE** - Benchmark Electronics beat Q2 earnings estimates and raised its price target to $90 by Needham, signaling confidence in its execution and growth prospects. This has contributed to upward momentum in the stock. **$EMR** - Emerson Electric posted better-than-expected results with strong operational execution, supporting a positive outlook in industrial tech. **$AMGN** - Amgen beat revenue and earnings forecasts, driven by robust demand for its key biotech products, which helped lift investor sentiment. **$PAG** - Pagaya reported earnings beat by $0.74 per share and revenue topped estimates, reflecting strength in its AI-driven asset management business. **$QNT** - Quanta Services delivered a blowout earnings beat of $0.95 per share with revenue also exceeding expectations, highlighting strong infrastructure demand related to AI power infrastructure. **$FICO** - Fair Isaac Corporation beat Q3 earnings estimates and maintained a buy rating with a $1650 price target, supported by strong demand for its analytics and credit scoring solutions. **$MCD** - McDonald's reported a solid quarter with revenue and earnings above consensus, driven by menu innovation and pricing power. **$MSFT** - Microsoft surged on strong Q4 earnings with record cloud revenue growth, particularly in Azure, reinforcing its leadership in AI and cloud computing. **$AMZN** - Amazon's earnings beat estimates with strong AWS growth offsetting some retail softness, supporting a positive market reaction. **$LRCX** - Lam Research beat Q4 earnings expectations, benefiting from sustained AI-related semiconductor demand. ### Misses & Negative Reactions **$META** - Meta Platforms reported mixed Q2 results with earnings missing estimates and revenue guidance disappointing. The stock dropped 9.4% in pre-market trading as concerns about AI spending and advertising softness weighed heavily. **$QCOM** - Qualcomm missed Q4 earnings estimates by $0.02 per share despite revenue topping estimates. The company lowered guidance citing rising memory costs and smartphone market headwinds, leading to a 6% premarket drop. **$CVNA** - Carvana posted a record quarter in EBITDA but disappointed with full-year guidance, causing the stock to tumble as investors focused on margin pressures and operational challenges. **$TDOC** - Teladoc Health's Q2 results were mixed, with revenue beat but earnings miss, and the stock fell after hours due to concerns over slowing demand. **$RTO** - Rentokil Initial beat earnings but shares fell 17% as slowing U.S. pest control demand overshadowed results. **$SIRI** - Sirius XM missed earnings by $0.08 despite topping revenue estimates, leading to a negative reaction. **$HNI** - HNI beat earnings by $0.21 but revenue fell short of estimates, causing some investor caution. **$DLH** - DLH Holdings missed earnings by $1.05 and revenue fell short, reflecting operational challenges. ## Reporting Today Companies expected to report earnings today: - **$CVNA** - Before market - Watch for full-year guidance and margin outlook after a record EBITDA quarter but cautious forecast. - **$TDOC** - Before market - Key metrics include revenue growth and earnings trajectory amid mixed Q2 results. - **$TENB** - Before market - Earnings and revenue growth to watch amid recent analyst upgrades. - **$PRCH** - Before market - Revenue and earnings performance amid sector volatility. - **$FIEE** - Before market - Earnings and guidance amid industry headwinds. - **$XRX** - Before market - Revenue and margin trends to monitor. - **$YYAI** - Before market - Growth metrics and profitability outlook. - **$DFNS** - Before market - Earnings and revenue growth following a strong premarket move. - **$FICO** - Before market - Continued strength in analytics business expected. - **$COUR** - Before market - Follow-up on strong Q2 results and guidance. - **$META** - After market - Market will focus on AI spending, ad revenue, and guidance. - **$QCOM** - After market - Watch for detailed commentary on memory cost pressures and smartphone demand. - **$MSFT** - After market - Investors will scrutinize Azure growth and AI investments. - **$AAPL** - After market - Revenue trends and supply chain updates amid memory cost concerns. - **$AMZN** - After market - AWS growth and retail segment outlook. - **$SPY, $QQQ** - Market indices to react to these major tech earnings. ## Earnings Themes - **Revenue Trends:** Many tech companies continue to report strong revenue growth driven by AI and cloud demand, notably Microsoft, Amazon, and Lam Research. However, smartphone-related companies like Qualcomm and Apple face headwinds from rising memory costs and softer device demand. - **Margin Pressures or Expansion:** Margin pressures are evident in companies like Qualcomm and Carvana due to rising input costs and operational challenges. Conversely, firms like Rolls-Royce and Andritz are seeing margin expansion driven by pricing power and operational efficiencies. - **Guidance Sentiment:** Guidance is mixed. Meta and Carvana lowered outlooks, reflecting caution amid macro uncertainties and competitive pressures. Microsoft and Rolls-Royce raised guidance, buoyed by strong demand in cloud and aerospace sectors. The market is closely watching how companies balance AI investment with profitability. ## Earnings Trade Ideas 1. **Long Microsoft ($MSFT):** With record cloud revenue growth and strong AI momentum, Microsoft remains a compelling play on enterprise digital transformation. The stock's post-earnings rally suggests investor confidence in its AI flywheel and Azure expansion. 2. **Cautious on Qualcomm ($QCOM):** Despite beating revenue estimates, Qualcomm's earnings miss and lowered guidance due to rising memory costs and smartphone headwinds suggest caution. Investors may want to wait for clearer signs of margin stabilization before adding exposure. 3. **Watch Meta ($META) for a Potential Rebound:** Meta's Q2 miss and guidance disappointment led to a sharp selloff, but some analysts view the dip as a buying opportunity given its AI capacity and long-term ad business potential. Traders could consider a tactical position on signs of stabilization. 4. **Avoid Carvana ($CVNA) Near Term:** Despite a record EBITDA quarter, Carvana's disappointing full-year guidance and margin pressures suggest ongoing operational risks. The stock's tumble reflects investor skepticism about sustainable profitability. This morning's earnings landscape highlights the bifurcation between AI/cloud beneficiaries and companies facing cost or demand headwinds. Investors should focus on guidance quality and margin outlooks as key indicators for positioning.