Earnings Recap - August 04, 2026 (EOD)

 ## Today's Earnings Scorecard The earnings season continued to showcase a mixed but generally positive tone, with several key technology and industrial players reporting strong results that boosted market sentiment. Notably, semiconductor stocks led a powerful rally, reflecting optimism about AI-driven demand. Palantir Technologies stood out with a blowout quarter, sparking a broad relief rally among AI chipmakers. Meanwhile, some companies faced headwinds from margin pressures and revenue misses, tempering gains in certain sectors. ## Earnings Winners **$PLTR** - +27% - Palantir posted a blowout Q2 with accelerating revenue growth, prompting multiple price target raises from UBS ($220) and Mizuho ($215). The company also raised its full-year outlook, reinforcing confidence in its AI-driven commercial momentum. **$CAT** - +9-10% - Caterpillar reported record quarterly revenue of $20.5 billion, beating estimates and raising its 2026 sales growth target. The strong data center demand and backlog expansion underpinned the upbeat guidance. **$AMGN** - data not available for price move - Amgen beat Q2 estimates with a 10% revenue beat fueled by six growth drivers and raised its sales outlook by $1 billion, signaling robust momentum in its pipeline and commercial execution. **$XOM** - data not available for price move - ExxonMobil delivered strong second-quarter results with profit more than doubling, driven by favorable trading and production, supporting a positive outlook amid energy market volatility. **$MRVL** - data not available for price move - Marvell was among the semiconductor leaders contributing to the SOXX ETF’s 16.8% four-day surge, reflecting strong AI chip demand. **$MU** - data not available for price move - Micron also led the semiconductor rally, with shares gaining on optimism about AI memory needs. **$INTC** - data not available for price move - Intel participated in the semiconductor sector’s best four-day rally since March 2020, buoyed by improving demand signals. **$SOXX** - +16.8% over four days - The semiconductor ETF surged on strong earnings from key chipmakers including Marvell, AMD, Micron, Intel, and Applied Materials, highlighting the sector’s leadership in the current market rally. ## Earnings Losers **$AMD** - stock down post-earnings - Despite beating Q2 estimates, AMD’s results were viewed as modest, with the stock reversing after hours. The company’s revenue climbed 50%, and data center sales doubled, but the market reaction suggests expectations for a more robust beat or guidance. **$PINS** - stock down after hours - Pinterest beat revenue estimates but warned of slower quarterly revenue growth amid intensifying ad competition, leading to a decline in its shares after hours. **$SPOT** - stock down - Spotify missed earnings and revenue forecasts, with user growth slowing in North America and Europe. The company also forecasted weak profit, weighing on the stock. **$MCD** - data not available for price move - McDonald’s reported a slowdown in U.S. same-store sales growth and announced a new U.S. president, reflecting challenges in its largest market. **$OPENDOOR** - shares fell after hours - Opendoor missed Q2 estimates, causing a negative market reaction. **$BLKLINE** - shares fell after hours - BlackLine topped Q2 estimates but shares declined post-report, possibly due to cautious guidance or margin concerns. **$THRYV** - earnings missed by $0.28, revenue fell short - The company’s results disappointed, reflecting operational challenges. **$ARCHROCK** - shares down 8% - Earnings missed and guidance tightened, signaling margin pressures and operational headwinds. ## After-Hours Earnings **$SPACEX** - Results: Beat Wall Street revenue forecasts with a 92% rise in revenue in its debut earnings report; posted a $540 million loss on bitcoin holdings. AH reaction: Stock down due to AI-related costs and valuation concerns despite strong revenue growth. **$AMD** - Results: Beat Q2 estimates but stock reversed after hours, indicating mixed investor sentiment on the modest beat. **$BLACKLINE** - Results: Beat EPS estimates but shares fell after hours, suggesting investor caution. **$OPENDOOR** - Results: Missed estimates, shares fell after hours. **$PINS** - Results: Revenue beat but slower growth guidance led to after-hours decline. **$SPOT** - Results: Missed earnings and revenue, shares fell after hours. ## Earnings Themes Today - Revenue trends showed strength in semiconductor and industrial sectors, with companies like Caterpillar and Amgen raising guidance on robust demand. - Margin commentary was mixed; some companies like Hinge Health and ATEC reported margin expansion, while others like Pinterest and Spotify faced margin pressures amid competitive and growth challenges. - Guidance tone varied, with Palantir and Amgen raising full-year outlooks, reflecting confidence in growth drivers, while companies like Pinterest and Archrock tightened guidance due to competitive and cost pressures. ## Tomorrow's Earnings Watch - **$AVGO** - Before market open - Key metric to watch: AI chip demand and guidance amid the sector rally. - **$LUMN** (Lumen Technologies) - Before market open - Focus on revenue mix improvements and margin commentary. - **$GILD** (Gilead Sciences) - Before market open - Watch for updates on new drug sales and acquisition impacts. - **$SNAP** - After market close - Key metric: Advertising revenue growth and user metrics following recent earnings. - **$F** (Ford) - After market close - Watch for sales trends and margin outlook after sluggish July U.S. auto sales. ## Key Takeaway Today’s earnings highlight a market increasingly driven by AI-related growth, particularly in semiconductors and software, with Palantir’s standout quarter fueling optimism across the sector. Industrial bellwethers like Caterpillar also underscore strong demand in data center and infrastructure spending. However, pockets of weakness in consumer tech and digital advertising, exemplified by Pinterest and Spotify, remind investors of ongoing competitive pressures and margin challenges. The mixed guidance tones suggest that while AI and industrial demand are bright spots, caution remains around growth sustainability and cost management in other areas. This earnings batch reinforces the bifurcation in market leadership and the importance of discerning quality growth amid broader economic uncertainties.