Daily ideas

Caterpillar's Q2 2026 revenue rose 24% to $20.5 billion with a record $72.1 billion backlog; Q3 tests whether capacity lets power shipments speed up without eroding margins.

Johnson Controls grew Q3 FY2026 organic sales 10% as backlog rose 32% to $21 billion; Q4 tests whether that backlog delivers the guided 9% to 10% organic growth.

United Rentals grew Q2 2026 revenue 11.8% to $4.41 billion and raised full-year guidance; Q3 tests whether 24.8% specialty growth can continue without deeper margin dilution.

Wabtec grew Q2 2026 sales 17.5% to $3.18 billion with adjusted EPS of $2.76, half from acquisitions; Q3 tests whether modernizations revive Services and freight margins keep expanding.

AMD's Q2 2026 revenue rose 50% to $11.54 billion with Data Center at 58% of sales; Q3 tests whether EPYC supply and first Helios shipments deliver the $13 billion guide.

Arista grew Q2 2026 revenue 37.7% to $3.04 billion as deferred revenue reached $6.87 billion; Q3 tests whether customer acceptances keep turning that balance into revenue.

Robinhood's Q2 2026 revenue rose 32% to $1.31 billion on record trading; Q3 tests whether options, event contracts and deposits hold up after the World Cup peak.

Fortinet's Q2 2026 revenue rose 26% to $2.05 billion as product sales jumped 52%; Q3 tests whether FortiGate demand is durable or pulled forward ahead of price increases.

J.B. Hunt grew Q2 2026 operating income 32% to $259.5 million with EPS of $1.91; Q3 tests whether intermodal profit holds as driver and fuel costs outrun contract rates.

The G7's 100-million-barrel release cut the diesel crack about $4.6 a barrel on Oct. 2, a margin hit for Korean refiners, renewable diesel and turnaround contractors.

American Tower grew Q2 2026 AFFO per share 4.2% to $2.71 while U.S. organic billings rose only 0.7%; Q3 tests whether carrier amendments can keep offsetting DISH churn.

Toshiba plans to double HDD capacity by 2027. Its outside suppliers of heads, glass substrates and suspensions, TDK, HOYA and NHK Spring, could see higher volumes.

Palantir grew Q2 2026 revenue 93% to $1.935 billion at a 62% adjusted operating margin; Q3 results test whether record U.S. commercial bookings keep turning into revenue.

Ecolab grew Q2 2026 sales 10% to $4.42 billion with adjusted EPS up 11% to $2.09; Q3 tests whether energy-surcharge pricing of 5%-6% protects organic gross margin.

ING lifted 2Q2026 total income 10.2% to €6.28 billion as its deposit margin rose to 1.07%; third-quarter results test whether costlier savings campaigns erode that margin.

Sherwin-Williams grew Q2 2026 sales 7.5% to $6.79 billion with paint-store comps up 4.2%; Q3 tests whether store volume keeps growing after an 8% September price increase.

BP earned $5.73 billion underlying RC profit in Q2 2026 as its refining margin hit $29.6/bbl; Q3 results test how much survives lower throughput, weaker customers and net debt needs.

Quanta Services grew Q2 2026 revenue 41.1% to $9.56 billion with an 11.5% Electric margin; Q3 tests whether peak-season organic growth can hold last year's 11.4% margin.

ASE Technology's Q2 2026 revenue rose 26.7% to NT$191.06 billion with a 27.3% ATM gross margin; Q3 tests whether new capacity lifts ATM sales and margins together.