Tuesday is one of the busiest days of the earnings season. Over 30 S&P 500 companies report today alone. KO and UPS kicked things off this morning. BA reports this afternoon, with investors zeroing in on cash burn and delivery numbers after a bruising year. PYPL and RCL also report today. Royal Caribbean has been a standout performer. Any guidance upgrade could lift the entire cruise sector. SPGI and GLW round out the morning slate.
Short sellers are active heading into results. SLDE saw short interest pile in just before its earnings report today. NE is another name to watch — short interest jumped 49% in the past month ahead of its Q2 print. Bears are also dug in at SOFI, though the borrow market there is easing. FTAI reports today too. It carries heavy scrutiny after past accounting controversy and needs a clean quarter to rebuild trust.
Three downgrades headlined analyst action Monday. BKNG, MCK, and IT all faced rating cuts. Meanwhile, macro pressure is building. Oil fell back below $100 a barrel as Trump weighed options on Iran. Meta faces higher borrowing costs after a $12bn data centre deal met investor anxiety over rising AI exposure. Hedge funds grew assets by over $400bn as the equity rally drew fresh institutional inflows.
SIRI got a lift this morning. Wells Fargo upgraded the satellite radio company on the eve of its earnings report. Bears have been heavily positioned in CHWY and WOLF, both sitting above 79% and 82% short interest as a percentage of free float respectively. Both report later this week.
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