Daily ideas

Southern Copper grew Q2 2026 revenue 40.6% to $4.29 billion even as copper output fell 3.5%; Q3 tests whether Peru grades stabilize and by-product credits hold.

HSBC's Q2 2026 banking NII rose 9% to $11.6bn while wealth fees grew 22%; Q3 must show about $11.55bn of NII to keep its at-least-$46bn full-year guidance on track.

Visa's fiscal Q3 net revenue rose 14% to $11.63 billion, but cross-border revenue grew only 6%; Q4 results must show whether that gap and 17% cost growth ease.

Texas Instruments grew Q2 2026 revenue 23% to $5.46 billion at a 61.4% gross margin; Q3 results test whether that is end demand or customer restocking.

Bradesco grew Q2 2026 recurring net income 16.2% to R$7.05 billion as loan loss provisions rose 22.6%; Q3 results test whether credit costs stop climbing.

Northern Trust grew Q2 2026 revenue 13% excluding a $525 million Visa gain, with NII up 11% to $675.5 million; Q3 tests whether NII holds near $649 million as temporary deposits leave.

Infosys grew Q1 FY2027 revenue 2.4% in constant currency to $5.08 billion at a 21.1% margin; Q2 must show organic growth despite AI price deflation.

Welltower grew Q2 2026 senior housing same-store NOI 20.5% and normalized FFO to $1.60 a share; Q3 must show pricing can sustain growth as occupancy gains narrow.

Aehr Test Systems ended fiscal 2026 with $50.0 million in revenue, a 35.3% gross margin and $80.6 million in backlog; Q1 FY2027 results test whether that backlog ships.

Domino's grew Q2 2026 revenue 4.3% to $1.194 billion while U.S. same-store sales rose just 0.1%; Q3 tests whether stuffed-crust deals lift ticket without losing orders.

Roper grew Q2 2026 revenue 8.5% to $2.11 billion with 4.9% organic growth; Q3 results test whether software growth tops 5% as buyback debt lifts interest.

Cadence grew Q2 2026 revenue 24% to $1.584 billion with backlog at $8.1 billion; Q3 results must show whether 40%-plus IP growth can hold near 15% of revenue.

Halliburton posted Q2 2026 revenue of $5.71 billion and a 14.8% C&P margin; its Oct. 20 results test whether frac pricing lifts that margin above 16%.

W. R. Berkley ran a 90.0% Q2 2026 combined ratio as renewal rate increases slowed to 3.5% from 6.6%; Q3 results show whether growth holds without a higher loss ratio.

Progress Software grew Q2 revenue 7% to $253.5M on a 36% license jump while ARR rose 2%; Q3 must show whether that was real demand or renewals pulled forward.

Worthington Steel posted fiscal 2026 sales of $3,443.8 million and adjusted EBIT of $161.1 million; its Q1 report tests whether Klöckner's profit can outrun new interest.

Ford earned $5.99 billion of adjusted EBIT in 1H26 but only $220 million of adjusted free cash flow; Q3 must show whether Ford Pro's aluminum recovery turns profit into cash.

United Airlines grew Q2 2026 revenue 16% but unhedged fuel cost rose 84% and adjusted EPS fell to $1.99; Q3 tests whether fares recover 80%-90% of the fuel increase.

Concentrix grew Q2 revenue just 0.6% in constant currency at an 11.9% non-GAAP margin; Q3 results test whether the offshoring headwind has stopped widening.