Earnings Flood Hits Markets as Bears Target AI Names

Coca-Cola Kicks Off Results Day

Coca-Cola reported this morning and management guided for organic revenue growth of at least 5% in FY26. The company expects to generate $13B in free cash flow this year. Executives flagged slight destocking in Q4, which tempered early enthusiasm. UPS, Boeing, PayPal and HCA Healthcare also posted results before the open today, kicking off the busiest week of earnings season. Alphabet and AMD report tomorrow. Meta Platforms and Microsoft follow on Wednesday, with Apple and Amazon rounding out the week on Thursday.

Bears Circle AI and Semis

Options flow is clustering on the bearish side in semiconductors. Micron, NVIDIA and AMD are drawing the heaviest put volumes among large caps. Meta, sitting at RSI 33.65 and down 4.5% year-to-date, also shows negative options positioning ahead of its print. Short interest tells a similar story in AI infrastructure: CoreWeave saw its SI % FF rise to 26.4% last week, up 4.2 percentage points in seven days.

European Autos Face a Tough Print

Mercedes-Benz reports Tuesday. Dutch car registrations, a leading indicator tracked by ORTEX, are running 6% below the same quarter last year across all three months. Volkswagen faces a similar picture: Austrian registration data runs down 6% year-on-year ahead of its Wednesday print. Renault shows a mixed read, with Dutch registrations down 19% but Austrian data up 6%.

Index Radar: Big Flows on Deck

Moderna leads the MSCI World November review with a forecast $4.4B of tracker buying, at 88% probability of addition. On the Russell side, Life Time Group Holdings sits precisely on the boundary between the Russell 2000 and Russell 1000. A move of just 8.3% upward would trigger $346M of forced buying; a fall back would bring $937M of selling. The rank date is 30 October.