Daily ideas

Eni's Q2 2026 output hit 1,789 kboe/d and adjusted EBIT doubled to €5.375 billion; Q3 results test whether growth and refining offset lower oil prices.

Interactive Brokers posted Q2 2026 net revenue of $1.896 billion at a 77% pretax margin; Q3 results test whether net interest income holds after margin loans fell 7% in July.

Nokia's Q2 2026 sales rose 9% at constant currency to EUR 4.8 billion as AI & Cloud orders hit EUR 2.8 billion; Q3 tests whether supply-limited optics convert them.

MSCI grew Q2 2026 revenue 12.2% to $867.0 million on 26.6% asset-based fee growth; Q3 results test whether ETF asset gains keep outrunning a falling fee rate.

Digital Realty grew Q2 2026 Core FFO per share ex-promote 14% to $2.13 with a $1.4 billion backlog; Q3 tests whether rent commencements outpace share dilution.

argenx grew VYVGART sales 60% to $1.516 billion in Q2 2026 at a 32.6% operating margin; Q3 tests whether seronegative gMG and the PFS keep sequential growth going.

Baker Hughes posted Q2 2026 revenue of $6.74 billion and record IET orders of $7.09 billion; Q3 results test whether backlog turns into revenue and Chart margins hold.

Comfort Systems USA grew Q2 2026 revenue 50.3% to $3.27 billion with a record $14.06 billion backlog; Q3 results test whether data center work converts at 30%+ same-store growth.

BillionToOne grew Q2 2026 revenue 64% to $109.4 million at a 70% gross margin; its Q3 report tests whether prenatal growth holds as one-time claim true-ups fade.

Nasdaq posted Q2 2026 net revenue of $1.5 billion, up 15%, a 57% non-GAAP margin and $1.07 EPS; Q3 shows whether record index assets and options volumes still turn into profit after the expense raise.

Honeywell Technologies posted Q2 2026 sales of $5.19 billion, 4% organic growth and adjusted EPS of $1.95 after the Aerospace spin; Q3 must show whether the Process Automation catalyst rebound holds.

American Express grew Q2 2026 revenue 10% to $19.6 billion as variable customer costs hit 44.6% of revenue; Q3 results test whether card fees re-accelerate past 15%.

ITW's Q2 2026 revenue rose 6.1% to $4.30 billion with 4.5% organic growth and a record 26.7% margin; Q3 must show welding and electronics orders still converting while the price/cost lag narrows.

América Móvil grew Q2 2026 revenue 3.1% to 241 billion pesos at a 39.8% EBITDA margin; Q3 must show whether Mexico's line suspensions and Brazil's promotions dent that growth.

FactSet grew organic ASV 7.1% in fiscal Q3 2026 as adjusted operating margin fell to 34.0%; the September 30 report must show whether Q4 bookings clear last year's record $81.8 million addition.

Cal-Maine lost $35.9 million last quarter as conventional egg prices fell 70.9% and wholesale eggs have since hit $0.35 a dozen; the Q1 report tests whether cost-based pricing can cap the loss.

HCA Healthcare grew Q2 2026 revenue 8.7% to $20.23 billion but absorbed a roughly $400 million hit as exchange patients went uninsured; Q3 results on October 23 show whether that hit narrows.

Record Q2 2026 revenue of $3.47 billion came with a 65.5% adjusted operating ratio, 210 basis points worse; the Q3 report must show whether the fuel tailwind beats the July 4% wage increase.

Comcast's Q2 2026 broadband revenue fell 5.5% and residential EBITDA fell 8% as it traded price for retention; the October 22 report tests whether ARPU and margins stabilize as losses worsen.