WS #13564
The dominant theme remains the Strait of Hormuz conflict, which is ESCALATING. Saudi officials issued fresh, detailed warnings of imminent coordinated attacks on energy infrastructure, ports, and airports by Iranian-backed militias, while also stating mediation is moving in the 'right direction' and suggesting a possible power struggle within Iran. This mixed messaging keeps oil prices elevated (WTI +3.91%, Brent +5.01%), supporting energy names and pressuring airlines and consumer discretionary. In a separate geopolitical escalation, Israel launched attacks on Lebanon after its soldiers were killed for the first time since the ceasefire, threatening the fragile peace. Additionally, the US imposed new tariffs on solar imports (minimum prices on modules, cells, polysilicon), which will benefit domestic solar manufacturers but hurt importers. In earnings, Airbnb (ABNB) delivered a strong double beat and raised guidance, with shares up 9% AH, while Cloudflare (NET) also beat and raised, up 15% AH. DraftKings (DKNG) missed on sales and profit, and The Trade Desk (TTD) fell on weak guidance. DoubleVerify (DV) suspended guidance due to the pending Nielsen acquisition. Several other earnings beats/misses are noted but secondary.
Topics
Key developments
- Saudi warns of imminent coordinated attacks on energy infrastructure, ports, airports
- Israel launches attacks on Lebanon after first soldier deaths since ceasefire
- US imposes minimum import prices on solar modules, cells, and polysilicon
- Airbnb beats Q2 estimates, raises guidance, shares up 9% AH
- Cloudflare beats Q2 estimates, raises FY guidance, shares up 15% AH
- DraftKings misses on sales and profit amid prediction market competition
- DoubleVerify suspends earnings calls and withdraws guidance pending Nielsen merger