Earnings Season Heats Up as Oil Rises on Iran Fears

Mega-Cap Earnings Dominate

It's the busiest earnings week of the year. Alphabet reported after Tuesday's close, drawing heavy scrutiny on AI revenue. Texas Instruments delivered a Q2 double beat with a strong outlook — yet the stock slipped anyway. That signals how high expectations have been set for the chip sector this season. IBM and AT&T also reported today. Wednesday brings Intel, RTX, T-Mobile, and Thermo Fisher. The earnings wave continues through the week with American Express on Thursday.

Oil Surges on Iran Tensions

Brent crude climbed past $95 after Trump threatened further escalation against Iran. Goldman Sachs warned the price could reach $120 if the Strait of Hormuz stays disrupted. That's the single biggest macro story today. Energy stocks and defence names are catching a bid. European defence has already rallied after Ukraine ratified a $105 billion EU loan deal.

Shorts Pile In, Chips Split

Short sellers aren't backing off high-flying names. Wolfspeed sits at 80.6% SI of free float with bears holding firm despite a 162% three-month rally. Hertz hit 76.7% SI of free float. Options flow echoes the split: semiconductor stocks like MaxLinear are seeing near-95% bullish bets. Memory names Sandisk and Micron are drawing the heaviest bearish options flow of the week.

Exec Selling Picks Up

Fast Retailing CEO Tadashi Yanai filed over $207 million in share sales today. Morgan Stanley CFO Sharon Yeshaya sold $3.46 million on July 17, filed today. Both are trading near multi-year highs. Analyst upgrades landed at AMD and Moody's, while MSCI took a target trim as bearish analyst sentiment builds.