WS #13450

From 500 msgs · 7 key-dev

Earnings season dominates the window with a wave of Q2 reports. Eli Lilly (LLY) posted a monster quarter with revenue up 48% to $23B, driven by Mounjaro and Zepbound, and raised FY26 guidance, though heavy M&A spending trims EPS guidance. Shopify (SHOP) delivered a beat with 34% revenue growth and raised Q3 guidance, sending shares higher. Uber (UBER) reported in-line Q2 EPS but issued weaker-than-expected Q3 bookings and EPS guidance, pressuring shares. Phillips 66 (PSX) crushed estimates with Q2 EPS of $9.41 vs $7.44 expected, reflecting strong refining margins. TeraWulf (WULF) announced a ~$19B lease with Anthropic for critical IT capacity, but reported a massive Q2 loss and heavy cash burn, creating a mixed signal. Geopolitically, an Indian-flagged tanker was attacked off Yemen, and two IDF soldiers were killed in southern Lebanon, while conflicting reports on a potential 60-day Hormuz shipping deal emerged. The AI-driven tech melt-up continues, with the Nasdaq 100 adding $3.5T in four days, but Michael Burry warns of a 1987-style fall.

Topics

Key developments

  • Eli Lilly Q2 revenue +48% to $23B, raises FY26 guidance on GLP-1 demand
  • Shopify Q2 beats, Q3 guidance above estimates, shares soar
  • Uber Q3 bookings and EPS guidance miss, shares pressured
  • Phillips 66 Q2 EPS $9.41 vs $7.44 est, revenue beat
  • TeraWulf secures ~$19B Anthropic lease but Q2 loss and cash burn weigh
  • Indian tanker attacked off Yemen, IDF soldiers killed in Lebanon, Hormuz deal uncertain
  • Nasdaq 100 adds $3.5T in four days on AI optimism; Burry warns of 1987-style fall