Daily ideas
CVS Health lifted Q2 2026 adjusted EPS to $2.58 as Aetna's first-half MBR fell to 86.0%; Q3 earnings test whether second-half medical costs erode that recovery.
Williams grew Q2 2026 Adjusted EBITDA 6% to US$1.921 billion as Transco's rate lift faded; Q3 tests whether expansions, Haynesville and Socrates keep growth on plan.
Itaú Unibanco earned R$12.4 billion in 2Q26 with loans up 9.6% and cost of credit at 2.7%; Q3 tests whether near-10% growth keeps that ratio flat.
Cenovus pumped a record 786,400 BOE/d of oil sands in Q2 2026 at C$10.80/bbl; Q3 results test whether turnaround costs hold and buybacks survive the Athabasca deal.
Ambev grew second-quarter 2026 net revenue 6.1% organically as Brazil beer volumes rose 5.0%; the Q3 test is whether volume and pricing hold without the World Cup.
Sony's Q1 FY2026 operating income rose 40% to ¥476.5 billion as sales fell 1% at constant currency; Q2 must show if PlayStation and sensor profits grow without the weak yen.
Celestica grew Q2 2026 revenue 62% to $4.70B with an 8.2% adjusted operating margin; Q3 tests whether ~190% AI rack growth can hold gross margin at 11.5%.
FEMSA's 2Q26 revenue rose 9.3% to Ps. 231.0 billion as OXXO Mexico traffic turned positive at 2.0%; Q3 must show whether traffic holds without the World Cup.
NVIDIA posted $96.2B Q2 FY2027 revenue at a 75.0% gross margin but only $24.1B of operating cash flow; Q3 tests Rubin shipments, memory costs and cash conversion.
Vale's 2Q26 revenue rose 19% to US$10.5 billion as iron ore C1 cost hit US$24.1/t; Q3 must show if premiums and costs let cash cover a US$1.7 billion dividend.
Marriott grew Q2 2026 gross fees 13% to $1.58B on just 3.4% RevPAR growth, led by co-brand card fees; Q3 tests whether fees reach the $1.483B guidance top.
CRH grew Q2 2026 Adjusted EBITDA 7% to $2.627 billion as net debt rose to $15.4 billion; Q3 tests whether aggregates pricing holds guidance and cuts debt before Arcosa.
Strategy pre-announced a $20.91B Q3 bitcoin gain as STRC sales stopped and $1.38B went to buybacks; the results test whether issuance still adds bitcoin per share.
First Citizens earned $1.656 billion of Q2 2026 net interest income at a 3.10% margin; Q3 results test whether NII holds while it repays $6-8 billion of its FDIC note.
PulteGroup closed 6,997 homes in Q2 2026, down 8%, at a 25.0% gross margin; Q3 tests whether 6% order growth lifts closings to the guided 7,000-7,400 homes.
SS&C grew adjusted revenue 10.3% to $1.70B in Q2 2026 with 7.6% organic growth; Q3 tests whether growth holds 5% once large upfront renewals fade.
The Hartford earned $945 million of core income in Q2 2026 as its Middle & Large Business underlying combined ratio hit 95.3; Q3 tests whether that and casualty reserve adds persist.
Reliance shipped 1.79M tons at $2,602/ton in Q2 2026 as sales rose 26.5% to $4.63B; Q3 tests core volumes, FIFO margins and cash as the border wall hits full run rate.
PCA earned $2.35 a share ex-items on $2.49B of Q2 2026 sales and guided Q3 to $2.91; the test is whether two containerboard price hikes outrun freight and fiber costs.
NatWest lifted Q2 2026 net interest income to £3.50bn at a 2.49% margin; Q3 tests whether hedge reinvestment still outruns mortgage and deposit-mix drag.
