Daily ideas

Moody's grew Q2 2026 revenue 15% to $2.185 billion with a 55.3% adjusted margin; Q3 tests whether ratings revenue holds roughly flat against a tough 2025 base.

China halted most fuel exports on 1 Oct 2026. Export-capped Korean refiners may earn more per barrel; HD Hyundai Oilbank made 44% of HD Hyundai's Q2 operating profit.

UPS grew Q2 2026 revenue 7.6% to $22.83 billion at a 9.2% adjusted operating margin; Q3 tests whether U.S. Domestic yield holds up once fuel surcharges fade.

Altria grew Q2 2026 adjusted EPS 2.8% to $1.48 as Marlboro pricing offset a 7.4% volume drop; Q3 tests whether pricing, on! PLUS and duty refunds still lift profit.

Agnico Eagle made a record $1.34 billion of Q2 2026 free cash flow on 855,816 ounces; Q3 tests whether the Barnat pit-wall loss keeps output near the 3.3M-ounce low end.

General Dynamics grew Q2 2026 revenue 8.1% to $14.1 billion with EPS of $4.24; Q3 results test whether submarine yard output holds as Marine growth slows.

GSK grew Q2 2026 turnover 5% at CER to £8.41 billion with core operating profit up 7%; Q3 tests whether HIV and specialty growth outrun Nuvalent and R&D costs.

Stryker grew Q2 2026 organic sales 9.0% with a 27.4% adjusted operating margin; Q3 tests whether backlog shipments reach the ~11% second-half pace its guidance needs.

Sandisk grew fiscal Q4 2026 revenue 51% to $8.97 billion at an 84.6% gross margin; Q1 results test whether slower NAND price gains still deliver $10.3-10.8 billion.

WM grew Q2 2026 revenue 4.0% to $6.68 billion at a 30.9% adjusted EBITDA margin; Q3 results test whether collection volume can hold flat under 5.7% core price.

Vertiv grew Q2 2026 sales 24% to $3.27 billion at a 22.6% adjusted margin; Q3 tests whether delayed data center projects deliver 34%-36% organic growth.

S&P Global grew Q2 2026 pro forma revenue 11% to $3.68 billion as ratings rose 17%; Q3 tests whether ratings can beat a $1.24 billion prior-year base.

Starbucks lifted U.S. comps 7.9% and its non-GAAP margin to 14.4% in fiscal Q3 2026; Q4 results test whether traffic and margins hold without tariff refunds.

ServiceNow grew Q2 2026 subscription revenue 24.5% to $3.877 billion at a 29.5% operating margin; Q3 tests growth after a federal pull-forward and margins after Armis.

Bristol Myers Squibb grew Q2 2026 revenue 6% to $13.0 billion as Eliquis rose 22%; Q3 tests whether that pace and cash flow hold before Eliquis loses EU exclusivity.

Phillips 66 earned $3.79 billion adjusted in Q2 2026 on a $24.08/bbl refining margin; Q3 results test how much holds once doubled crack spreads and hedge gains fade.

Cloudflare grew Q2 2026 revenue 36% to $696.1 million with a 73.1% non-GAAP gross margin; Q3 tests whether early pool consumption drove the beat.

ADP grew fiscal 2026 revenue 7% to $21.95 billion as client fund interest rose 13.9%; Q1 must show whether 1% headcount growth still supports 5%-6% Employer Services growth.