Daily ideas

Apollo's Q2 2026 Fee Related Earnings rose 25.2% to $785 million while Athene's first-half spread earnings fell 1.8%; Q3 results test whether that spread starts to grow.

Cboe's Q2 2026 net revenue rose 25% to $731.6 million on record index options volume; Q3 earnings test whether index options ADV holds above 6 million contracts.

Cognizant grew Q2 2026 revenue 4.1% in constant currency to $5.48 billion, only about 1.4 points of it organic services; Q3 hinges on whether Financial Services stays above 10%.

Kenvue's Q2 sales rose 3.0% to $3.955 billion while adjusted gross margin fell to 60.2%; Q3 tests whether Self Care volume turns positive and margin stops sliding.

Rocket Companies earned $229 million on $2.78 billion of Q2 2026 revenue after absorbing Mr. Cooper; Q3 earnings test whether share gains and synergies offset a smaller mortgage market.

Manulife's Q2 2026 core earnings rose 12% to C$1.92 billion as Asia's NBV margin fell to 36.3%; Q3 tests whether Hong Kong savings sales grow without more margin loss.

EOG Resources earned $2.72 billion in Q2 2026 at $98.15 oil while crude output held near 548,000 barrels a day; Q3 earnings test whether oil growth resumes.

Cheniere Partners' Sabine Pass terminal earned $983 million of Q2 2026 adjusted EBITDA on 396 TBtu; Q3 earnings test whether summer volumes and margin per MMBtu hold.

Energy Transfer's Q2 2026 adjusted EBITDA rose 31% to $5.07 billion on NGL export premiums and Waha spreads; Q3 tests whether fee volumes hold growth as spreads fade.

Enbridge's Q2 2026 adjusted EBITDA rose to C$4.78 billion while adjusted EPS slipped to C$0.63; Q3 earnings test whether tolls and rate cases outrun interest and share dilution.

Vulcan Materials' Q2 2026 aggregates cash gross profit rose just 1% to $12.02 a ton as diesel lifted unit costs 7%; Q3 tests whether June price hikes outrun fuel.

Raymond James posted record fiscal Q3 net revenues of $3.93 billion as fee-based assets hit $1.15 trillion; fiscal Q4 earnings test whether ~11% fee growth reaches PCG profit.

Extra Space Storage grew Q2 2026 same-store revenue 2.4% and Core FFO to $2.15 a share; Q3 tests whether rate increases offset flat move-in rents.

Monster Beverage grew Q2 2026 net sales 20.2% to $2.54 billion as operating margin slipped to 29.2%; Q3 tests whether growth holds against a tough base without eroding margins.

Hershey's Q2 adjusted gross margin recovered to 41.6% on about 14 points of candy pricing, but volume fell 10 points; Q3 tests whether volume steadies as price hikes lap.

Resmed grew FY2026 revenue 10% to $5.65 billion, with devices up 9% and masks up 13%; Q1 FY2027 tests whether sleep growth and gross margin hold while Astral sales stay paused.

WEC Energy's Q2 2026 EPS rose to $0.91 from $0.76 as Microsoft's data center lifted large-customer sales 9.6%; Q3 tests whether that load growth lasts.

AppLovin's Q2 2026 revenue rose 53% to $1.92 billion but missed the guidance midpoint; Q3 tests whether its new Axon model lifts sales above $2.07 billion.

GE HealthCare grew Q2 organic orders 11.1% to a record $23.9 billion backlog while organic revenue rose 3.5%; Q3 tests whether imaging orders turn into profitable revenue.