WS #13382

The dominant theme this window is a heavy Q2 earnings deluge, with several major beats and guidance raises that will drive individual names in the next 1-8 hours. Palantir (PLTR) reported 'otherworldly' results with 93% revenue growth and raised full-year guidance, sending shares up 16% premarket; this is corroborated by CNBC, Al Jazeera, and multiple financial feeds, reinforcing the AI sovereignty narrative and weakening the bear case on AI competition. Caterpillar (CAT) shattered estimates with record $20.5B revenue and EPS of $8.17 (beat by $1.97), raising its outlook, a strong signal for industrials and global growth. Zebra Technologies (ZBRA) beat EPS by $1.97 and raised FY guidance sharply, indicating robust demand for enterprise tech. Marathon Petroleum (MPC) beat EPS massively ($17.73 vs $13.73 est) on revenue of $52.3B, reflecting strong refining margins amid the oil price environment. On the negative side, Merck (MRK) cut its FY2026 EPS guidance dramatically to $2.66-$2.76 from $5.04-$5.16 due to deal charges, though it raised revenue guidance; this will pressure the stock. BioNTech (BNTX) missed and slashed FY sales guidance, a clear negative. Aptiv (APTV) beat Q2 EPS but cut FY guidance, a mixed signal. The US-Iran/Hormuz narrative shows ESCALATION with a ship hit in the Strait and Trump's 'last chance' warning, but Qatar reports draft agreement language, creating a counter-signal that could ease oil prices; oil is rebounding slightly with Brent at $85.13 (+1.6%).