Q2 Earnings Season Opens as Tech Insiders Cash Out

Earnings in Focus

The Q2 earnings season begins today. NKE posts Q4 2026 results after the close tonight. STZ and GIS also report after the bell. Nike carries a $48.9 billion market cap with only 5% of free float shorted. General Mills has the heaviest short interest of the three at 9.9%. Options markets are active around Nike ahead of the print.

Insider Selling Alarm at Applied Materials

AMAT insiders filed over $113 million in stock sales this month. CEO Gary Dickerson sold $49.2 million across two days in mid-June. The CTO, a division president, and the Chairman all filed sales in the same window. When four C-suite executives sell within days of each other, it stands out. BBY founder Richard Schulze also filed $32.7 million in sales on June 26.

Analysts Split on Tech and Energy

GLW and WDAY both picked up upgrades today. Workday's consensus sits at 25 buys versus 16 holds. Energy names moved the other way. OXY, FANG, and APA all saw price target cuts from analysts. Telecom also struggled — CHTR's average target fell sharply.

Bears Target Wolfspeed and EV Names

Short sellers remain aggressive in distressed names. WOLF now has 129.9% of its free float shorted — up 26 percentage points in a week. LCID short interest hit 39.4% of free float. Cost to borrow at Lucid runs at 33%. On the other side, CAR saw short covering, with SI dropping from 44.3% to 38.2%.

Europe Watch

UK retailer CURY features on the earnings calendar today alongside the US names. European markets remain broadly in focus as Q2 reporting begins globally.