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Q2 2026 Bank Earnings Season Opens Tuesday — JPMorgan Consensus EPS $5.49, Goldman $14.47, Options Markets Price 4-6% Swings

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs all report Q2 2026 earnings Tuesday before the open, the same morning as the June CPI release. Consensus expects JPMorgan EPS of $5.49 on $48.7 billion in revenue and Goldman EPS of $14.47 on roughly $16 billion — both reflecting year-over-year growth above 10%. Options markets are pricing single-day moves of 4.4% to 6.0%, and the KBW Bank Index is trading near record highs ahead of results.

SK Hynix Raises $26.5B in Largest-Ever US Foreign IPO at $149 — 7x Oversubscribed Debut Tests AI Memory Bull Case

SK Hynix priced its US IPO at $149 per American depositary receipt, raising $26.5 billion in the largest-ever US listing by a foreign company, surpassing Alibaba's 2014 record. The offering was more than seven times oversubscribed. Trading begins today on Nasdaq under the temporary ticker SKHYV before converting to SKHY on July 13. SK Hynix holds 56.4% of the global high-bandwidth memory market and is a primary HBM supplier to Nvidia, with first-quarter 2026 revenue of $34.9 billion beating estimates by 4%.

Meta Platforms Launches Muse Spark 1.1 AI Model and Plans September 'Iris' Chip Production — Stock Up 8.3% This Week

Meta Platforms released Muse Spark 1.1, its most capable AI model for coding and agentic tasks, alongside plans to begin manufacturing its in-house 'Iris' data center chip in September, targeting 14 gigawatts of compute by 2027. The combined announcements pushed Meta shares up roughly 4.7% Thursday and 1% in Friday premarket, cutting the stock's 2026 year-to-date loss from 14.5% to 4.2%. ARK Invest added shares after the release, while analysts project monetization gains through API pricing and advertising share.

Delta Air Lines Q2 2026 Adjusted EPS Beats at $1.56 vs. $1.48 Estimate — Record Fuel Bill of $3.93/Gallon Absorbs 25% Profit Drop

Delta Air Lines reported Q2 2026 adjusted earnings of $1.56 per share on adjusted revenue of $17.7 billion, beating Wall Street estimates of $1.48 EPS and $17.53 billion in revenue. Net income fell 25% year-over-year to $1.6 billion as fuel costs hit $3.93 per gallon — up 75% and the highest quarterly fuel expense in Delta's history. The carrier reaffirmed full-year adjusted EPS guidance of $6.50–$7.50 and guided Q3 for mid-teens revenue growth with $2.00–$2.50 adjusted EPS.

Vodafone Shares Rise 12% as Xavier Niel Buys 16.2% Stake for $5.9B — Telecom Consolidation Bet Dethrones e&

Vodafone Group shares jumped 12% Friday after French telecom billionaire Xavier Niel's Vega vehicle agreed to acquire Emirates Telecommunications Group's entire 16.2% stake in Vodafone for £4.4 billion, or $5.91 billion, at 112.5 pence per share. The deal makes Niel the largest single shareholder in Britain's biggest mobile operator and is seen as a signal of renewed European telecom consolidation interest. VOD stock hit a high of 110 pence in London before settling, with ADR shares surging on US markets.

Semiconductor Stocks Fall Ahead of SK Hynix Debut — Micron Slides 2.3% as Rotation and Sell-the-News Risk Emerge

Chip stocks declined in Friday's early session ahead of SK Hynix's US trading debut, with Micron Technology slipping roughly 2.3% and the VanEck Semiconductor ETF falling modestly from Thursday's 2.5% gain. Analysts attribute the pullback to rotation — investors rebalancing out of existing chip positions to fund SKHYV allocations — alongside heightened sell-the-news risk after SpaceX's June IPO created a similar dynamic. The Nasdaq composite hovered near flat as markets await the new listing's opening print.

US-Iran War Reignites: 90 CENTCOM Strikes After Ceasefire Collapses — Oil Climbs 4.4% to $73.52 as Hormuz Risk Returns

US Central Command struck 90 Iranian military targets overnight after President Trump declared the fragile ceasefire "over" following Iranian attacks on three commercial vessels in the Strait of Hormuz. Iran retaliated by targeting Bahrain, Kuwait, and Qatar, and the US revoked its waiver on Iranian oil sales sanctions. WTI crude rose 4.4% to $73.52, Brent climbed 5.4% to $78.19. Dow futures fell 0.1% while Nasdaq-100 futures rose 0.7% as AI names decoupled from the geopolitical shock.

SK Hynix $28B Nasdaq ADR Prices Today at $165.26 — Sevenfold Demand Makes It the Second-Largest Foreign Listing in US History

SK Hynix priced its Nasdaq ADR offering on Thursday, targeting approximately $28 billion at roughly $165.26 per ADR, with institutional orders covering more than seven times the shares available. Cornerstone investors including Baillie Gifford, Coatue Management, and Situational Awareness Partners indicated combined interest of up to $7 billion. Interim trading begins Friday under the ticker SKHY, with regular trading starting Monday. The deal is the second-largest US listing by a foreign company, behind only SpaceX's $85.7B IPO last month.

Arista Networks Hits All-Time High of $181.05 After 8.8% Rally — Q2 Earnings Set for August 4 With $11.5B Full-Year Guidance in Focus

Arista Networks closed at an all-time high of $181.05 on Wednesday after an 8.8% single-session rally, driven by BlackRock naming it one of its top 30 AI infrastructure stocks alongside validated deployments of its new 1.6-terabit 7060XE7 switching platforms with Meta, Microsoft, and Oracle. The stock carries $8.9 billion in multi-year purchase commitments and full-year AI revenue guidance of $3.5 billion. Second-quarter results are due August 4. The stock is up roughly 70% over the past 12 months.