Track the evolution of major financial and economic events
Levi Strauss & Co. will release its Q2 fiscal 2026 earnings on July 8, with consensus estimates of $1.52 billion in revenue and $0.24 EPS. Telsey Advisory raised its price target for the stock to $30 while maintaining an Outperform rating, and UBS increased its price target to $34 with a Buy rating. Analysts expect earnings per share to grow by 9.1% for the upcoming quarter.
On June 29, Comcast Corporation (CMCSA) announced plans to separate its media and technology businesses through a tax-free spin-off of NBCUniversal and Sky into an independent public company. Comcast shareholders will own shares in both Comcast and NBCUniversal upon completion of the transaction. This announcement caused declines in telecom stocks such as VZ, TMUS, and T.
On June 26, RTX secured a $1.11 billion contract modification for the production and delivery of AIM-9X missiles. On July 2, RTX shares rose 3.4% after its Raytheon business secured a $1.1 billion contract from the U.S. Navy. The contract involves AIM-9X Block II missiles with production capacity increased to 2,500 missiles annually. On July 7, Raytheon is collaborating with Diehl Defence and Dutch suppliers to double global Stinger missile production.
On June 25, US Bancorp passed the Federal Reserve's 2026 stress test, maintaining strong capital levels and planning to raise its quarterly dividend. On July 1, US Bancorp announced a 3.8% increase in its quarterly common stock dividend to $0.54 per share, effective Q3 2026. On July 4, the 3.8% increase in the quarterly dividend to $0.54 per share was confirmed, and DCF models suggested the stock could be 40.3% undervalued with a fair value estimate of $103.45.
BlackBerry reported Q1 fiscal 2027 revenue of $153 million, exceeding analyst estimates. The company's shares rose 8% in premarket trading after raising its annual revenue forecast. BlackBerry achieved a 144% year-over-year growth in adjusted EBITDA and a GAAP operating income of about $15 million. On June 26, BlackBerry reported revenue of $157.33 million, up 26% year-over-year, prompting RBC Capital to raise its price target to $9.00. On July 1, BlackBerry reported better-than-expected Q1 results, driving a 22% surge in its stock.
On June 25, Apple announced price increases of $100 to $300 on MacBooks and iPads due to higher memory and storage costs driven by AI demand. On June 26, Apple confirmed price hikes on iPad, MacBook Air, MacBook Pro, HomePod, and Apple TV, citing rising memory and storage chip costs due to AI industry demand. On June 29, Apple announced it would release software updates earlier than usual in response to AI-driven security concerns.
On June 25, Volkswagen shares rose 2.4% after announcing the sale of a majority stake in its engine unit Everllence for €7.4 billion ($8.41 billion). On June 26, Volkswagen announced plans to cut 100,000 jobs and end production at four German plants over the coming years, marking the most radical overhaul in the company's 89-year history. On June 28, Bild newspaper reported that Volkswagen plans to end its automated driving partnership with Bosch as part of cost-cutting and competitiveness efforts.
On June 24, Anthropic accused Chinese tech giant Alibaba of carrying out the largest known distillation attack on its AI models to date. Anthropic sent a letter to U.S. officials claiming Alibaba attempted to illicitly extract capabilities from its Claude AI model. On July 1, the United States lifted export restrictions on Anthropic's Claude Fable 5 and Mythos 5 models.
On June 24, Micron reported a significant beat on EPS, revenue, margins, and guidance. Following this, MU shares rallied after hours as AI memory demand showed no signs of slowing down.
Truist Financial raised its price target for American Express from $360 to $375 while maintaining a Buy rating. On July 1, Piper Sandler initiated coverage of the payments and consumer finance sector, positioning American Express as a key holding. A Discounted Cash Flow (DCF) model suggests AXP's fair value could be $403.04, indicating it is 16% undervalued. On July 7, TD Cowen raised its price target for American Express from $330 to $338 while maintaining a hold rating.
The Apple-Intel chip manufacturing deal is facing timeline challenges, with analysts expecting production to take two to three years. On June 25, Apple raised prices on Macs by 15-20% and iPads by 15-25% due to soaring memory and storage costs. On the same day, Apple stock fell nearly 4.89% following the price hike. Apple stated that unprecedented demand for memory from AI data centers caused the increase. On July 2, American Express expanded its partnership with Apple to allow cardholders to redeem rewards points at checkout via Apple Pay.
US futures for the S&P 500 and Nasdaq 100 rose by 0.3% and 0.5% respectively as semiconductor stocks began to recover. Markets are closely watching Micron's third-quarter earnings to assess the sustainability of the AI-driven trade. Additionally, Alphabet shares increased by 0.5% following the news that it will replace Verizon in the Dow Jones Industrial Average.
On June 24, Tesla, Sunrun, and Renew Home announced an agreement to deliver over 16 gigawatts of flexible energy capacity to hyperscalers and utilities. On June 25, Tesla announced plans to increase production at its Berlin plant by 20% to 7,500 vehicles per week starting in October, requiring the recruitment of an additional 1,000 employees.
KB Home reported Q2 revenue of $1.11 billion, a decrease from $1.53 billion a year earlier due to pressures in the U.S. housing market. Following these results, the company narrowed its full-year financial outlook. Despite the drop in revenue, shares of the company rose following the announcement of the financial results in June 2023.
FedEx reported its fiscal 2026 fourth-quarter financial results after the market close on June 23. FedEx shares declined as the company's earnings guidance for fiscal year 2027 came in below expectations. The fourth quarter was the last to include the freight business before its spin-off into a separate company on June 1. On July 1, the Financial Times reported that CMA CGM is nearing a $1.4 billion deal to acquire FedEx's logistics unit.
Carnival shares fell nearly 6% after issuing a third-quarter profit outlook that missed analyst expectations. Although the company reported adjusted earnings of $0.41 per share for the quarter ended May 31, beating the $0.33 estimate, the weak outlook overshadowed this achievement. JPMorgan maintained an Overweight rating on Carnival following a Q2 earnings beat. The company's cost-saving measures helped offset yield pressure and weakness in the European market. However, Carnival faces risks from debt, fuel, currency, and costs.
On June 23, Microsoft signed a 20-year power purchase agreement with Chevron to supply 2.67 GW of electricity to its West Texas data centers. The power will be generated from a West Texas natural gas facility known as Project Kilby, with generation expected to start in 2028. On June 24, Microsoft purchased seven gas turbines from GE Vernova to power its new Texas data center project, which is being developed in collaboration with Chevron as part of a $7 billion project. On July 1, Business Insider reported that Microsoft plans to lay off less than 2.5% of its workforce in its latest round of job cuts.
On June 22, IBM announced a partnership with OpenAI to integrate frontier AI capabilities into enterprise cybersecurity workflows. On June 25, IBM unveiled the world's first sub-1 nanometer chip technology, featuring a 0.7 nm node and a 3D nanostack transistor architecture, packing nearly 100 billion transistors on a fingernail-sized die. On June 26, IBM introduced a sub-1 nanometer chip design incorporating approximately 100 billion transistors, about twice the density of its current 2nm technology.
On June 22, Ondas announced securing over $40 million in new orders for autonomous defense systems and loitering munition systems. The company's total order activity for the second quarter of 2026 has exceeded $150 million. On June 23, Ondas acquired Cyberhawk for $125 million in cash to enhance its AI-driven asset data and analytics capabilities. On June 26, Ondas partnered with Lockheed Martin to integrate Sentrycs' Cyber-over-RF technology into its Sanctum counter-drone system.
News Corp reported total share repurchases of approximately $317.1 million to date under its $1 billion program. On June 23, the company stated that it has executed approximately $320.5 million in share repurchases. On June 25, News Corp provided an update on its $1 billion stock repurchase program, with over $326 million in shares bought back as of June 24, 2026. Repurchases are conducted on the open market with Goldman Sachs & Co. LLC as broker to enhance shareholder value.
On June 22, Chevron and Microsoft signed a 20-year agreement to power a $7 billion data center project in Texas. On June 25, Chevron CFO Eimear Bonner told CNBC she expects U.S. gasoline prices to fall. Bonner's comments came after President Trump accused Big Oil of "gouging" consumers for not lowering gasoline prices despite lower oil prices.
Oracle implemented a large-scale restructuring, laying off approximately 21,000 employees, or 13% of its workforce, during fiscal year 2026. The move aims to redirect resources toward heavy investment in artificial intelligence technology. Following the disclosure, Oracle shares fell about 5% to trade around $175.07.
S&P 500 bullish opening odds on Polymarket slumped to 28% following Trump's threats of tolls on the Strait of Hormuz and stalled peace talks in Switzerland. Traders turned overwhelmingly bearish for Tuesday's opening after a significant technology-led market selloff. Despite ongoing semiconductor weakness, Polymarket participants now expect an S&P 500 rebound on Wednesday.
On June 21, three AI-related tech companies achieved revenue growth that exceeded investor expectations. Micron is benefiting from a severe memory shortage driven by AI demand. On June 25, Micron stock surged after earnings results indicated the memory-chip boom could last longer than anticipated. On July 2, an AI sector stock is showing technical strength by finding support near a key entry point.
