Earnings Week Ignites as AI Demand Drives Beats

Celestica Blows Past Estimates

Celestica delivered a standout Q2 result tonight. Adjusted EPS came in at $2.54, well above the $2.30 estimate. Revenue hit $4.70B against a $4.39B forecast. The AI infrastructure boom is driving demand for its hardware services. The company raised full-year EPS guidance to $11.30 from $10.15. Full-year sales guidance jumped to $20.5B from $19.0B. Q3 guidance also topped consensus by a wide margin. Navitas Semiconductor echoed that theme — reporting accelerated demand due to "power bottlenecks" in AI infrastructure.

Mega-Cap Tech Week Begins

The biggest earnings stretch of the season starts now. Meta Platforms, Microsoft, and Apple all report Wednesday. Amazon follows Thursday. Options traders are split on tech — both heavy put and call volumes on Micron and NVIDIA signal uncertainty rather than clear direction. Tesla sits deep in oversold territory with an RSI of 28, down 30% year-to-date.

Oil Back Above $100

Brent crude broke back above $100 per barrel. The FT flagged the move as a threat to inflation and interest rate expectations globally. A bond sell-off followed. Hong Kong's exchange relaxed listing rules amid a competitiveness drive. Hedge fund assets hit a record high, up $400B on AI-fuelled equity gains.

Bears Still Pressing Consumer Names

Short sellers stayed aggressive this week. Chewy short interest reached 79.2% of free float. Hertz hit 78.6%. Charter Communications carries 27.7% SI % FF after analyst targets were cut sharply to $187.35. Insiders leaned heavily toward selling — Carlos Slim disclosed over $130M in PBF Energy sales since late June.