Daily ideas

Blackstone managed $1.35 trillion at June 30, 2026, with distributable earnings up 26% but base fees up only 4.5%; Q3 will show whether BCRED repurchase requests fall back inside the 5% cap.

P&G grew fiscal 2026 sales 3% to $87.0 billion with no volume contribution and core EPS up 1% to $6.89; Q1 FY2027 tests whether volume and pricing turn positive as a $1 billion cost headwind hits.

AAR grew fiscal 2026 sales 19% to $3.31 billion while its Parts Supply margin slipped to 12.5% and cash flow trailed profit; Q1 FY2027 results test whether distribution growth lifts margins and cash.

Valero earned $3.72 billion in Q2 2026 on a $23.62 per barrel refining margin and holds $7.9 billion of cash; Q3 will show whether feedstock discounts keep margins above $20 as diesel cracks retreat.

PAR Technology says its AI assistant PAR Intelligence is live at roughly 20,000 sites, about 17,000 in retail, but it has not disclosed any revenue from the product.

SAP grew Q2 2026 cloud revenue 24% and backlog 26% at constant currencies, yet operating profit rose only 9%; Q3 results show whether profit growth returns to the guided pace.

Blend Labs says lenders using its Autopilot AI loan agent see a preliminary 10 to 15% pull-through improvement. Six lenders signed, but Autopilot revenue is undisclosed.

CME Group's Q2 2026 revenue rose 1% to $1.71 billion as average daily volume slipped 1%; Q3 results on October 21 will show whether rate per contract holds at $0.678.

Progressive grew premiums 5% in Q2 2026 at an 87.3 combined ratio, but August hit 89.3; Q3 results will show whether rate cuts and heavier advertising still buy policy growth.

Lam Research posted record June-quarter revenue of $6.72 billion at a 51.7% gross margin; Q1 fiscal 2027 results will show whether memory tool orders drive the guided $8.1 billion.

Abbott's Q2 2026 comparable sales grew 4.8% with adjusted EPS of $1.31 after the Exact Sciences deal; Q3 must show whether nutrition, diagnostics and devices can lift growth toward 6.5%-7.5%.

AT&T grew Q2 2026 revenue 2.3% to $31.6 billion with postpaid phone churn at 0.86% after a price increase; Q3 will show whether churn, fiber adds and cash flow hold.

IBM's Q2 2026 revenue rose just 1.1% to $17.2 billion as mainframe sales fell 42%; Q3 results will show whether the large deals that slipped in June are closing.

Northrop Grumman grew Q2 2026 sales 5% to $10.9 billion as segment profit fell 5% and first-half free cash flow ran negative; Q3 must show backlog turning into margin and cash.

Philip Morris International posted Q2 2026 adjusted EPS of $2.20 on 10% cigarette pricing; Q3 results will show whether that pricing can fund a costlier ZYN defense.

Elevance Health's Q2 benefit expense ratio rose 80 basis points to 89.7% as revenue grew 0.8%; Q3 tests whether a −1.75% Medicaid margin is really the trough.

Evolent Health (EVH) says AI now evaluates over a third of prior authorizations once reviewed by clinicians. Auto-approval rose up to 20 points at deployed customers; savings are undisclosed.

Verizon grew service revenue 2.8% and lifted its adjusted EBITDA margin to a record 40.1% in Q2 2026; Q3 results will show whether phone net adds hold without subsidies.

The Real Brokerage (REAX) says its Leo AI assistant autonomously handles about 47% of agent support calls and emails, but it has not disclosed the cost savings.