Track the evolution of major financial and economic events
EOG Resources reported second-quarter earnings of $5.07 per share, surpassing analyst estimates of $5.01. The company's revenue grew by 57.4% to $8.62 billion, driven by increased production and favorable oil prices. Consequently, Roth Capital raised its price target for EOG to $138 from $132 while maintaining a Neutral rating.
Alphabet has announced a significant leadership overhaul within its AI division, involving the departure of several key figures from their managerial roles. Demis Hassabis is stepping down from his day-to-day leadership at Google's DeepMind unit to become its chairman and take on a newly created role as Alphabet's chief scientist. These changes coincide with the departure of veteran engineer Jeff Dean and several leaders of the Gemini model from the company.
MicroStrategy's stock surged 30% following a significant cash reserve build-up of $4 billion and a $975 million share repurchase program. This recovery was supported by stabilizing Bitcoin prices and a strategic plan by Michael Saylor to purchase the cryptocurrency indefinitely through new stock issuances. CEO Phong Le confirmed that the company's cash holdings have reached approximately $4.75 billion. The firm now aims to attract traditional investors by offering preferred stock that prioritizes dollar liquidity over direct Bitcoin exposure.
GlobalFoundries reported second-quarter revenue on August 5 that exceeded Wall Street expectations. The company's performance was bolstered by the rising demand for specialized chips used in data centers. This growth underscores the significant role of artificial intelligence in driving demand within the semiconductor industry.
On August 5, CDW reported second-quarter gross profit margins that fell below Wall Street estimates. Consequently, shares of the IT solutions provider plunged 14% in premarket trading. Although the company achieved stronger-than-expected revenue, the positive results were offset by the disappointing margin performance.
SpaceX reported a robust 91.9% revenue increase to $7.81 billion for the second quarter of fiscal year 2026. The company's Starlink subscriber base doubled to 12 million users during this period, marking significant market penetration. However, the average revenue per user (ARPU) declined as a result of aggressive international expansion. These figures highlight rapid operational growth balanced against shifting unit economics.
Circle shares jumped 10% in pre-market trading following an earnings beat that offset a revenue miss. The company reported $701 million in revenue for the second quarter of 2026, representing a 7% annual growth driven by the expansion of the USDC stablecoin. Additionally, Circle revealed major institutional adoption for its Arc layer-1 blockchain, naming BlackRock and Visa as key partners.
Eli Lilly reported a 48% surge in Q2 revenue to $23.0 billion, driven by robust demand for Mounjaro and Zepbound. Following this performance, the company raised its full-year financial guidance and its 2026 outlook, citing expanded Medicare access. Additionally, the company plans to seek regulatory approval for retatrutide by 2027. Other market updates included a 1.4% net sales increase for Utz Brands and tightened revenue guidance from Eos Energy Enterprises.
Bitcoin rose to nearly $64,100, surpassing the $63,000 threshold as it tests critical technical resistance at the 50-day Exponential Moving Average of $64,650. Market sentiment is supported by renewed institutional inflows and statements from US Treasury Secretary Scott Bessent regarding a potential deal with Iran to reopen the Strait of Hormuz by mid-week. Breaking the $64,650 resistance level remains vital for the continuation of the current price recovery.
CVS Health exceeded second-quarter 2026 earnings and revenue estimates, with all business segments performing above expectations. The company raised its 2026 guidance due to recovery in the Aetna unit, despite lowering full-year earnings projections. CVS stock fell 4.65% amid rising medical benefit ratios, while Newmont and Walt Disney shares rose following strong performance in gold prices and streaming margins.
Disney reported a 7% increase in third-quarter revenue to $25.2 billion, sparking a rally in its stock price on August 6 following strong earnings results. On the same day, SoundHound AI beat second-quarter earnings and revenue expectations, driven by robust demand for enterprise AI solutions. These updates highlight significant financial growth for both companies within their respective sectors.
Thomson Reuters and CVS Health reported strong financial results, with Thomson Reuters exceeding earnings expectations at $0.99 per share and raising its 2026 growth outlook to approximately 8.0%. Thomson Reuters also announced a $500 million joint venture with KKR for its Global Print business and completed significant capital return programs totaling over $1.2 billion. Meanwhile, CVS Health increased its 2026 adjusted EPS guidance, and Cencora reported a 5.1% revenue rise to $84.8 billion.
BorgWarner reported strong second-quarter 2026 financial results, exceeding earnings estimates driven by effective cost control measures. Following these results, the company raised its full-year adjusted earnings per share (EPS) guidance and authorized an additional $1 billion for its share repurchase program. Additionally, BorgWarner announced seven new awards across its portfolio to support long-term growth. These developments highlight the company's improved profit margins and its commitment to returning value to shareholders.
Losses from a security vulnerability in Coldcard hardware wallets have surpassed $130 million as thefts continue. Galaxy Research confirmed the theft of at least 1,596 BTC from approximately 7,300 addresses due to a firmware exploit. Hackers are currently laundering the stolen funds through mixing services while the total losses continue to escalate.
Viasat reported its Q1 fiscal 2027 earnings results on August 5, successfully beating market estimates. The company achieved these strong results despite facing significant headwinds in the market. This performance highlights Viasat's ability to exceed expectations even amidst challenging industry conditions.
Rocket Lab secured a $397 million contract from the U.S. Space Force to develop, launch, and operate missile-tracking satellites for the SB-AMTI program. Additionally, the company won a separate $266 million agreement for 12 suborbital launches scheduled to begin in late 2026. Following these developments and its 92nd successful Electron rocket launch, Rocket Lab's stock price experienced a significant increase.
SpaceX reported a 92% surge in revenue in its inaugural public earnings report on August 4. This significant growth was primarily driven by skyrocketing demand for Starlink satellite internet and cloud services. Following this, the company announced on August 8 a massive $15.8 billion capital expenditure plan dedicated to artificial intelligence.
On August 4, AMD released its quarterly earnings results, leading to a decline in the company's stock price during trading hours. This downward movement reflects the immediate market reaction following the publication of the financial data. The reported price action was specifically linked to the period immediately after the earnings announcement.
Gilead Sciences reported a quarterly loss for Q2 driven by high research and development costs, despite seeing growth in its HIV drug sales. The company lowered its full-year forecast for Veklury after sales of the treatment plummeted 81% during the second quarter. Additionally, the California Supreme Court issued a landmark ruling shielding Gilead from liability related to drug development. This decision protects the company even in instances where safer alternatives to its medications may have existed.
Wall Street reached new record highs as the Dow Jones and S&P 500 were driven by strong corporate earnings and falling oil prices. The Dow Jones surged 912 points to close at 54,090.66, supported by positive results from Palantir and Caterpillar that boosted optimism in artificial intelligence spending. Additionally, weak ADP employment data helped mitigate Federal Reserve policy risks, further sustaining the market rally through August 5.
On August 4, AMD reported second-quarter 2026 financial results that surpassed analyst estimates for both earnings and revenue. A key driver of this performance was the company's data center segment, which saw its revenue more than double during the quarter. These results highlight a strong period of growth for the company across its core financial metrics.
SpaceX reported total revenue of $7.8 billion for the second quarter of 2026. This performance marks a significant 92% increase compared to the same period in the previous year. These results were disclosed as part of the company's inaugural public earnings report released on August 4.
Paramount Skydance raised its full-year 2026 adjusted EBITDA outlook during its second-quarter earnings report. The company reaffirmed its commitment to the merger with Warner Bros. Discovery despite ongoing legal and regulatory challenges. Additionally, several other firms reported financial results, with Iovance Biotherapeutics achieving record revenue driven by Amtagvi sales. Ocugen also received FDA clearance for a Phase 3 trial and secured $130 million in financing, extending its cash runway into 2028.
Novo Nordisk shares fell over 6% as second-quarter sales for its weight-loss drug Wegovy missed investor expectations. Despite the decline, the company raised its full-year guidance and reported a 7% growth in adjusted sales driven by its obesity and diabetes franchises. Other financial updates included raised outlooks from Realty Income and Orion, alongside significant sales growth reported by Once Upon A Farm.
