Daily ideas

BBVA earned EUR 3,062 million in Q2 2026 with CET1 at 12.90%; Q3 results test whether Mexico loan growth still beats a peso spread down to 11.61%.

Equinor earned $11.48 billion adjusted operating income in Q2 2026 with net debt at 10.4%; Q3 tests whether cash still funds buybacks once Norwegian tax catches up.

LNG Canada's Phase 2 FID doubles capacity to 28 Mtpa; Offshore Oil Engineering (600583.SH) built most Phase 1 modules and could win a repeat order.

AbbVie grew Q2 2026 revenue 10.2% to $16.99 billion as Skyrizi and Rinvoq offset Humira; Q3 results on 2026-10-30 test whether Skyrizi keeps its $21.7 billion full-year pace.

Booking Holdings grew Q2 2026 room nights 5.3% and revenue 8.1% to $7.35 billion; its Q3 report tests whether 3%-5% room-night guidance holds as long-haul travel stays weak.

Boeing delivered 171 jets in Q2 2026 and turned free cash flow to $631 million; Q3 tests whether the 737 ramp to 47 a month keeps deliveries and cash positive.

AstraZeneca's Q2 2026 revenue rose 5% at CER to $15.38 billion with a 34% core operating margin; Q3 results test whether oncology growth can offset Farxiga generics.

Western Digital grew Q4 revenue 44% to $3.75 billion as exabytes rose only 22%; Q1 fiscal 2027 results test whether volume and 40TB costs can take over from contract pricing.

ExxonMobil earned $14.7 billion adjusted with $17.2 billion free cash flow in Q2 2026; Q3 tests whether fewer Guyana barrels and easing margins still fund buybacks.

Chevron earned $12.1 billion in Q2 2026 on $104 Brent and 20% output growth; Q3 tests whether Hess volumes and cost cuts hold upstream profit as oil and timing gains fade.

UBS posted a 70.0% underlying cost/income ratio and 14.4% CET1 ratio in Q2 2026; Q3 results test whether buybacks hold after tougher Swiss capital rules.

Chubb earned $7.26 core EPS in Q2 2026 with an 83.8% P&C combined ratio; Q3 results on Oct 27 test whether casualty margins hold as soft pricing spreads.

Linde grew Q2 2026 sales 9% to $9.29 billion while its adjusted margin slipped to 29.5%; Q3 earnings test whether Americas margins recover and start-ups keep volumes growing.

Firefly expects Alpha prices to rise and Spire holds launches through 2028, while Precision Optics sees a ~40% order cut as scarce launch capacity delays satellites.

The Panama Canal restored a 10th daily Neopanamax slot and a 49 ft draft. Fewer Cape detours could cut VLGC ton-miles, while lower auction fees offset part of it for Dorian LPG.

Amazon grew Q2 2026 sales 20% to $200.6 billion as AWS rose 37%, but trailing free cash flow hit -$7.6 billion; Q3 tests whether AWS growth outruns AI capex.

PowerCo is taking 49% of Gotion's 100,000 t/yr LFP cathode plant in Morocco, a cheaper source that competes with IBU-tec's Bitterfeld capacity reserved from 2028.

T-Mobile grew Q2 2026 service revenue 8.9% to $18.98 billion as account churn rose to 0.99%; Q3 results test whether higher ARPA outweighs migration-driven churn.

Kodiak's Zenkuda matched aflibercept in Phase 3 with 54% of patients on six-month dosing, resetting the bar that REGENXBIO's sura-vec gene therapy must clear in Q4 2026.