Microsoft Jumps 15.5% in Historic Rally; Amazon Soars 11% as AWS Hits 18-Quarter High; Apple Slides 9% on Weak Guidance 

Mumbai, 1 August 2026: The week ended 31 July 2026 marked the peak of the second-quarter earnings season, with about one-third of S&P 500 companies reporting results. Strong earnings from Microsoft and Amazon boosted confidence in AI-driven growth, while Apple’s cautious outlook and Meta’s profit miss weighed on sentiment. The week also featured major M&A deals, IPOs, regulatory developments, and executive changes, driving significant stock-specific moves across Wall Street. 

Microsoft Shares Surge 15.5% to $451.10, Largest Single-Day Market-Value Increase in History 

Microsoft Corporation (NASDAQ: MSFT) delivered a blockbuster fiscal fourth-quarter report on Wednesday, 29 July, sending shares surging 15.5% on Thursday to $451.10, marking the largest single-day market-value increase in stock market history. The tech giant reported adjusted earnings of $4.74 per share on revenue of $90.01 billion, comfortably beating Wall Street estimates of $4.24 and $87.61 billion respectively. Revenue rose 18% year-over-year, while net income jumped 31% to $35.77 billion. 

The standout metric was Azure, which topped $100 billion in annual revenue for the first time, with quarterly growth accelerating to 43%, exceeding the 39% to 40% guidance range. Microsoft Cloud revenue reached $59.3 billion in the quarter, up 27%. Commercial remaining performance obligation surged 84% to $678 billion, signalling strong future revenue visibility. Microsoft 365 Copilot surpassed 30 million paid seats while GitHub Copilot reached 50 million users. Options traders had expected a roughly $190 billion swing in Microsoft’s market value after earnings, underscoring investor eagerness to see if billions in AI spending were beginning to pay off. A flurry of price-target hikes ensued. 

Amazon Jumps 11% as EPS of $5.75 Crushes Estimates by 216% 

Amazon.com Inc (NASDAQ: AMZN) delivered its strongest quarterly performance in years on Thursday, 30 July, sending shares gapping up 11% in Friday trading. The e-commerce and cloud giant reported adjusted earnings of $5.75 per share on revenue of $200.6 billion, obliterating analyst expectations of $1.82 and $197.01 billion respectively. Net income surged over 243% year-over-year to $62.6 billion. 

Amazon Web Services (AWS) was the standout performer, with revenue surging 36.7% year-over-year to $42.2 billion—its fastest growth in 18 quarters. CEO Andy Jassy revealed that both AWS AI and chip businesses have eclipsed annual run rates exceeding $25 billion. Advertising revenue climbed 26% year-over-year. However, free cash flow turned negative at -$7.6 billion, reflecting a 142% decline as the company continues its aggressive AI infrastructure spending. Amazon increased its full-year capex forecast to $220 billion from $200 billion. The stock had closed at $235.50, up 3.90%, before gaining over 8% in after-hours trading. 

Apple Slides 9% as Weak Q4 Guidance Overshadows Record Q3 Results 

Apple Inc (NASDAQ: AAPL) delivered a historically strong fiscal third-quarter report on Thursday, 30 July, yet shares plunged over 9% in Friday trading. The iPhone maker reported revenue of $109.42 billion, up 16% year-over-year, beating the $108.65 billion consensus estimate. Earnings per share came in at $2.02, up 29% year-over-year. Net income rose to $29.79 billion from $23.43 billion a year earlier. 

iPhone revenue jumped 22% to $54.25 billion, Mac revenue climbed 29% to $10.35 billion, and Services revenue reached a June-quarter record of $30.74 billion. The company’s gross margin improved to a record 50.1%. CEO Tim Cook, in what was his final earnings call before handing over leadership to hardware chief John Ternus, said the company saw June-quarter revenue records in every geographic segment. 

However, the market focused squarely on the guidance. Apple said September-quarter revenue growth would be between 9% and 11%, below the 12% consensus forecast, citing “supply constraints” and rising memory costs. Shares fell more than 4% in volatile after-hours trading. The stock’s decline erased approximately $400 billion in market capitalisation. 

Meta Platforms Tumbles 9.7% as EPS Misses by 14% Despite Record $60.8 Billion Revenue 

Meta Platforms Inc (NASDAQ: META) was the week’s biggest disappointment among the mega-cap technology names. The social media giant reported second-quarter results on Wednesday, 29 July, with revenue of $60.8 billion, up 28% year-over-year and beating the $60.2 billion consensus. However, adjusted earnings per share came in at $6.18, falling $0.99 short of the $7.17 consensus estimate—a 14% miss. 

The profit shortfall was driven by surging costs. Total expenses climbed 55% year-over-year to $42.0 billion, including $2.4 billion in legal charges and $1.2 billion in severance costs. Free cash flow plummeted 91% to $784 million. Operating income fell 8% to $18.8 billion. Capital expenditure reached $31.1 billion. For the third quarter, Meta guided revenue between $61 billion and $64 billion, missing the midpoint expectation of $63.1 billion. Shares fell as much as 10.4% in after-hours trading. No fewer than 10 brokerages cut their price targets in response. 

Also Read: How to invest in US stocks  

Qualcomm, Arm and Starbucks Also in Focus on Wednesday 

Qualcomm Inc (NASDAQ: QCOM) reported after the close on Wednesday, with shares dropping more than 5% in pre-market trading following the results. Arm Holdings (NASDAQ: ARM) forecast second-quarter revenue above Wall Street estimates at $1.38 billion versus $1.34 billion expected, with adjusted profit of 47 cents per share versus 43 cents expected. First-quarter royalties rose 22% to $715 million while licensing revenue grew 23% to $574 million. However, shares slid nearly 7% after hours after Arm said it expects smartphone royalties to fall in the coming quarter due to memory shortages. Starbucks (NASDAQ: SBUX) also reported after the close on Wednesday 

Ford Raises 2026 Forecast, Coca-Cola Delivers Best Rally Since 2009 and Boeing Climbs on Strong Results 

The US earnings season continued to drive market movements as several blue-chip companies reported stronger-than-expected quarterly results. Ford Motor beat earnings estimates with adjusted EPS of $0.42 on $48.3 billion in revenue and raised its 2026 earnings guidance, increasing the upper end of its adjusted earnings forecast to $10.5 billion on the back of improved production and profitability. The upbeat outlook sent Ford shares 7% higher in after-hours trading.  

Coca-Cola also exceeded expectations, reporting Q2 earnings of $0.97 per share, ahead of estimates of $0.92, prompting a 5% jump in its stock—its best single-day performance since 2009. Meanwhile, Boeing gained 4.8% after reporting positive free cash flow, reinforcing confidence in its operational recovery.  

The strong performances from Coca-Cola and Boeing helped lift the Dow Jones Industrial Average by nearly 550 points, offsetting weakness in semiconductor stocks and highlighting investors’ preference for companies delivering resilient earnings and improving financial outlooks. 

Sherwin-Williams Gains 8%, Skyworks Slides 10%, CoStar Plunges 12% After Earnings Updates 

Quarterly earnings continued to trigger sharp moves across US stocks, with investors closely tracking both results and forward guidance. Sherwin-Williams shares climbed around 8% after the company reported its quarterly results, adding momentum to the Dow Jones Industrial Average alongside gains in Coca-Cola and Boeing. 

Meanwhile, Skyworks Solutions exceeded Wall Street expectations for its fiscal third quarter, reporting adjusted earnings of $1.08 per share on $935 million in revenue, ahead of estimates of $1.03 EPS and $930 million revenue. However, the stock fell 10.34% in after-hours trading after the company issued weaker fourth-quarter earnings guidance. 

CoStar Group also beat profit expectations, posting adjusted EPS of $0.32 against estimates of $0.29, while revenue rose 18% year-on-year to $925 million. Despite improved EBITDA and margin expansion, shares dropped 12.36% after hours as investors reacted to a softer revenue outlook and slower bookings growth. 

Chevron Posts $12.1 Billion Profit; ExxonMobil Delivers Strong Earnings but Shares Slip 

Energy giants reported strong second-quarter results, though market reactions differed. Chevron posted its highest quarterly profit in at least six years, with earnings of $12.1 billion or $6.11 per share, while revenue reached $70.06 billion, beating expectations. Adjusted EPS of $6.06 also surpassed estimates, supported by higher oil prices and refining margins. Shares gained around 2%. 

Meanwhile, ExxonMobil reported $14.5 billion in Q2 net income, with revenue of $98.7 billion. Adjusted EPS of $3.52 slightly missed expectations of $3.54, leading shares to fall around 2% as investors focused on the earnings shortfall despite strong overall results. 

AI Boom Lifts Lam Research; Vertiv Slides Despite Earnings Beat 

AI infrastructure demand drove mixed moves among semiconductor stocks. Lam Research forecast first-quarter revenue of $8.10 billion, above estimates, and reported better-than-expected Q4 revenue of $6.72 billion, sending shares 6% higher after hours. KLA Corp also issued upbeat guidance, forecasting $4 billion revenue, though shares declined 9.4% after results. 

Vertiv Holdings shares dropped 14% after revenue of $3.27 billion missed estimates despite an EPS beat. The company raised its FY2026 outlook, citing temporary project timing and supply chain issues. FormFactor shares jumped nearly 14% after hours following a strong earnings beat driven by demand for high-bandwidth memory and data centre solutions. 

Avis, Coinbase and Reddit Slide as Investors Focus on Weak Outlooks 

Several technology and consumer stocks faced pressure after earnings announcements. Avis Budget Group shares fell 13.3% after earnings of $0.98 per share missed expectations of $1.80, while revenue also came below forecasts. Coinbase dropped over 5% after reporting its third consecutive quarterly loss of $359.5 million and revenue below estimates. 

Reddit shares declined more than 7% despite beating earnings expectations, as investors remained concerned about search traffic trends. Meanwhile, Teladoc Health cut its 2026 revenue forecast to $2.36-$2.45 billion, weighing on investor confidence. On the positive side, First Solar gained over 3% after beating earnings estimates, while IES Holdings surged more than 30% on stronger-than-expected results. 

Also Read: US Stock market timings  

WEC Energy Maintains Outlook; Boston Scientific Cuts Forecast, Rivian Narrows Losses 

Corporate updates remained mixed as companies adjusted their outlooks. WEC Energy Group reported higher profits driven by rising data centre demand and reaffirmed its 2026 earnings forecast of $5.51-$5.61 per share. Boston Scientific reduced its annual profit guidance due to weaker Watchman device demand, lowering its adjusted EPS forecast to $3.28-$3.32. 

Immersion Corp posted second-quarter EPS of $0.30, beating estimates by $0.24. Meanwhile, Rivian Automotive shares rose nearly 2% after reducing spending plans, narrowing expected losses and maintaining its delivery target of 65,000-70,000 vehicles. 

$16.4 Billion M&A Wave: MarketAxess, CBIZ Deals Trigger Sharp Stock Moves as Pentair and VYNE Restructure 

Mergers and acquisitions dominated market activity as several major corporate deals triggered sharp stock movements. Intercontinental Exchange (ICE) agreed to acquire MarketAxess Holdings in an all-cash transaction valued at approximately $6 billion. MarketAxess shareholders will receive $167 per share, representing a 33% premium, sending MarketAxess shares 29.5% higher, while ICE gained 1.3%. The deal expands ICE’s presence in electronic fixed-income trading. 

Meanwhile, Grant Thornton Advisors announced the acquisition of CBIZ Inc. in a $5 billion all-cash deal, offering shareholders $55 per share, a premium of around 54%. The transaction will create the fifth-largest US professional services, tax and advisory firm, with combined revenue of nearly $7.5 billion. CBIZ shares surged 17.5% following the announcement. 

Pentair agreed to acquire Taco Group for approximately $1.4 billion, though investors reacted negatively, sending Pentair shares down 6.03% in pre-market trading. 

Meanwhile, VYNE Therapeutics completed its merger with Yarrow Bioscience as part of a restructuring plan that included a 1-for-50 reverse stock split effective 27 July 2026. The transaction marked a major corporate reset, though the company’s shares remained under pressure amid restructuring-related uncertainty. 

$3.4 Billion IPO and Fundraising Activity: Jersey Mike’s, Apnimed Debuts Shine While Rivian Shares Slide 18% 

US capital markets witnessed significant IPO and fundraising activity as companies tapped investors for fresh capital, triggering mixed stock reactions. Jersey Mike’s Subs made its market debut after pricing its IPO at $23 per share, selling 43.5 million shares and raising approximately $1 billion. However, investor response remained weak, with shares opening at $21, down 8.7% from the IPO price. 

Reformation raised $210.9 million through its NYSE listing after pricing shares at $15 each. The stock closed its first trading session at $15.08, indicating a largely stable debut. Meanwhile, biotech company Apnimed delivered a stronger market entry after raising $192 million through an upsized IPO. Shares gained 6.3%, trading at $17 compared with the IPO price of $16. 

In fundraising developments, Icahn Enterprises announced a $700 million senior notes offering due 2033, expanded from its earlier $500 million plan, though shares traded lower following the announcement. Rivian Automotive faced selling pressure after announcing a $1.5 billion public share offering involving 75 million Class A shares, sending the stock down 18% as investors reacted to potential equity dilution concerns. 

Rush Enterprises Splits Stock 3-for-2, Skyworks Replaces Dividend With $2 Billion Buyback; Monster Beverage Announces 2-for-1 Split 

Several companies announced major shareholder-focused corporate actions, triggering mixed reactions from investors. Rush Enterprises approved a 3-for-2 stock split for both Class A and Class B shares, effective through a stock dividend payable on 31 August 2026. The company also declared a $0.14 per share dividend after adjusting for the split. The move was aimed at improving share accessibility and enhancing shareholder returns, though the stock reaction remained muted as investors focused on the company’s operating performance. 

Skyworks Solutions announced a major shift in its capital allocation strategy by suspending its quarterly dividend and launching a new $2 billion share repurchase programme. The decision was aimed at directing more capital towards buybacks, acquisitions and growth initiatives. However, shares faced pressure as income-focused investors reacted negatively to the dividend suspension.  

Meanwhile, Monster Beverage approved a 2-for-1 stock split, with eligible shareholders receiving one additional share for every share held. The announcement supported investor interest, although the stock movement remained limited as the split was viewed primarily as a liquidity-enhancing measure. 

VYNE Therapeutics completed a 1-for-50 reverse stock split on 27 July 2026 as part of a broader restructuring plan. The reverse split triggered volatility, with investors remaining cautious about the company’s financial position and future growth prospects. 

Also Read: How to Invest in the US Stocks From India

Tim Cook’s Final Apple Earnings Call Marks Leadership Transition; Cracker Barrel Shares Slide 5% After CEO Change 

A major leadership transition at Apple dominated corporate headlines as CEO Tim Cook held his final earnings call on 30 July 2026, marking the end of one of the most influential leadership eras in the technology sector. Cook, who has led Apple since 2011, will hand over the CEO role to John Ternus, Apple’s hardware engineering chief and a 25-year company veteran. The transition signals a new chapter for Apple, with investors closely watching how the leadership change could impact product strategy, artificial intelligence initiatives and long-term growth plans. Despite the significance of the announcement, Apple shares remained relatively stable as markets had largely anticipated a planned succession process. 

Meanwhile, Cracker Barrel Old Country Store announced a separate executive transition, with CEO Julie Masino stepping down on 10 August. She will be succeeded by David Deno, the former CEO of Bloomin’ Brands. The leadership change triggered a negative market reaction, with Cracker Barrel shares falling more than 5% as investors assessed the implications for the company’s turnaround strategy, brand positioning and future growth prospects. The contrasting market responses highlighted investor confidence in Apple’s planned succession compared with uncertainty surrounding Cracker Barrel’s leadership shift. 

$58.6 Billion Lockheed Martin Missile Deal, $1.6 Billion SpaceX Order and AI Defence Contracts Drive Major Corporate Moves 

The week ended 31 July 2026 witnessed a series of major defence, space, AI infrastructure and technology developments, led by multi-billion-dollar government contracts and strategic partnerships. Defence companies dominated headlines after securing large US government orders, while telecom and technology firms expanded their role in AI infrastructure. 

Lockheed Martin received the largest contract in its history after the US Army awarded a deal worth up to $58.62 billion for production of Patriot Advanced Capability-3 interceptor missiles. The seven-year agreement, covering procurement through fiscal 2026-2032, comes amid rising global defence requirements and efforts to rebuild weapons inventories. The announcement boosted investor confidence, with Lockheed Martin shares rising around 2.5%. 

SpaceX also secured a major boost after receiving a $1.6 billion US Space Force order for 18 Falcon 9 launches through 2027. The contract will support military satellite programmes focused on sensing, tracking and communications. SpaceX shares, traded under the ticker SPCX, gained less than 1% following the announcement. 

Meanwhile, Accenture Federal Services won an $821 million Pentagon AI data platform contract to enhance the Department of Defense’s War Data Platform, while Verizon announced a $1 billion-plus dark fibre agreement with Google to connect AI data centres. Verizon shares remained largely stable as investors evaluated the long-term AI infrastructure opportunity. 

Other defence contractors also secured significant wins. Rocket Lab announced a $266 million Space Force multi-launch contract, along with additional satellite launch agreements, lifting shares more than 2% on Friday after a 10.4% jump on Thursday. CACI International gained around 1% after securing a $500 million counter-drone defence contract. 

Corporate developments showed mixed market reactions, with AI-driven earnings boosting Microsoft and Amazon while Apple and Meta faced pressure. Major M&A deals highlighted continued consolidation, while muted IPO debuts and biotech catalysts remained in focus. Investors will track AI spending, supply chains and M&A activity. 

Source 

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