Daily ideas

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.

CBRE grew Q2 2026 revenue 15.5% to $11.2 billion and core EPS 30%, but free cash flow was only $29 million; Q3 tests whether leasing growth holds and cash rebounds.

Wipro's IT services revenue fell 1.2% sequentially to $2.61 billion in Q1 FY2027 as margin slid to 16.0%; Q2 results test whether large deals lift revenue.

Nanobiotix held €110.9M cash at June 30, 2026 after a €34.3M H1 net loss; the key question is whether NANORAY-312 reads out in H1 2027 and pays a milestone.

EQT sold 634 Bcfe in Q2 2026 as NYMEX fell to $2.89 and free cash flow reached $330 million; Q3 tests whether it can hold differentials without deeper curtailments.

Waste Connections grew Q2 2026 revenue 6.4% to $2.562 billion at a 32.8% adjusted EBITDA margin; Q3 results test whether volumes stabilize and margin tops 34%.

City Chic and Stitch Fix say GLP-1 users are sizing down: 20% of Stitch Fix new clients report a body change, and size 12 is 8% of City Chic store sales.

Axon says its Draft One AI report writer gives police officers 20% more day-to-day capacity and is now live in more countries, but it still does not break out Draft One revenue.

Eni's Q2 2026 output hit 1,789 kboe/d and adjusted EBIT doubled to €5.375 billion; Q3 results test whether growth and refining offset lower oil prices.

Interactive Brokers posted Q2 2026 net revenue of $1.896 billion at a 77% pretax margin; Q3 results test whether net interest income holds after margin loans fell 7% in July.

Nokia's Q2 2026 sales rose 9% at constant currency to EUR 4.8 billion as AI & Cloud orders hit EUR 2.8 billion; Q3 tests whether supply-limited optics convert them.

MSCI grew Q2 2026 revenue 12.2% to $867.0 million on 26.6% asset-based fee growth; Q3 results test whether ETF asset gains keep outrunning a falling fee rate.

Digital Realty grew Q2 2026 Core FFO per share ex-promote 14% to $2.13 with a $1.4 billion backlog; Q3 tests whether rent commencements outpace share dilution.

argenx grew VYVGART sales 60% to $1.516 billion in Q2 2026 at a 32.6% operating margin; Q3 tests whether seronegative gMG and the PFS keep sequential growth going.

Baker Hughes posted Q2 2026 revenue of $6.74 billion and record IET orders of $7.09 billion; Q3 results test whether backlog turns into revenue and Chart margins hold.

Comfort Systems USA grew Q2 2026 revenue 50.3% to $3.27 billion with a record $14.06 billion backlog; Q3 results test whether data center work converts at 30%+ same-store growth.