Microsoft, Coca-Cola and Meta Drive US Stock Market Movers on 29 July as Earnings Season Delivers Big Surprises

Mumbai, July 30: Corporate earnings dominated the US stock market on 29 July 2026, with several blue-chip companies reporting quarterly results that triggered notable share price movements. Technology, consumer staples, healthcare and industrial stocks remained in focus as investors assessed revenue growth, earnings performance, updated guidance and strategic announcements. While several companies outperformed market expectations and raised their outlooks, others faced pressure after reporting weaker-than-expected sales, cautious forecasts or increased spending plans, making company-specific developments the key driver of trading activity. 

Microsoft (MSFT) Rises as Azure Growth Beats Expectations 

Microsoft Corporation (NASDAQ: MSFT) reported stronger-than-expected fourth-quarter results on Wednesday, beating Wall Street estimates on both revenue and earnings, while its Azure cloud platform surpassed $100 billion in annual revenue for the first time. The company posted earnings per share (EPS) of $4.74 on revenue of $90 billion, comfortably ahead of analysts’ expectations of $4.25 per share and $87.7 billion in revenue. In the same quarter last year, Microsoft reported EPS of $3.65 on revenue of $76.4 billion. 

The company’s Intelligent Cloud segment generated $39.3 billion in revenue, exceeding forecasts of $38.1 billion, while Business Productivity and Processes revenue reached $37.8 billion, ahead of the expected $37.3 billion. More Personal Computing revenue came in at $12.9 billion, topping estimates of $12.1 billion. Microsoft also reported $678 billion in remaining performance obligations, well above the projected $647.6 billion, although capital expenditure of $41 billion came in slightly below expectations. Investors welcomed the strong results, sending Microsoft shares up more than 3% in after-hours trading after the stock had closed 0.71% lower in the regular session. 

Coca-Cola Raises 2026 Outlook as Q2 Earnings Beat Estimates; Shares Gain 

The Coca-Cola Company (NYSE: KO) delivered better-than-expected second-quarter 2026 results and raised its full-year guidance, reflecting broad-based volume growth, margin expansion and resilient consumer demand across key markets. The beverage giant now expects organic revenue growth of approximately 5%, up from its previous guidance of 4% to 5%, while comparable earnings per share growth is projected at 9% to 10%.  

Coca-Cola also increased its free cash flow forecast to about $12.4 billion. During the quarter, global unit case volume rose 5%, supported by a 5% increase in Trademark Coca-Cola volumes, 16% growth in Coca-Cola Zero Sugar and an 8% rise in Powerade. The company reported adjusted earnings of 97 cents per share on revenue of $13.38 billion, surpassing analysts’ expectations of 92 cents per share and $13.06 billion in revenue. Investors welcomed the strong performance and improved outlook, sending Coca-Cola shares higher in premarket/early trading following the earnings announcement. 

Meta Misses Q2 EPS Estimates, Issues Softer Q3 Outlook; Shares Slide Nearly 8% 

Meta Platforms (NASDAQ: META) reported mixed second-quarter 2026 results, missing Wall Street’s earnings expectations despite posting better-than-expected revenue. The company reported earnings per share (EPS) of $6.18 on revenue of $60.8 billion, compared with analysts’ estimates of $7.14 per share and $60.2 billion in revenue. Meta said the EPS miss was largely due to $2.4 billion in legal contingency charges and $1.2 billion in severance costs, noting that earnings would have exceeded expectations without these one-time items.  

Advertising revenue rose to $59.3 billion, slightly above forecasts of $59.07 billion. For the third quarter, Meta projected revenue of $61 billion to $64 billion, with the midpoint falling short of Wall Street’s $63.1 billion estimate. The company also raised the lower end of its 2026 capital expenditure guidance to $135 billion-$145 billion. Investors reacted negatively to the earnings miss and softer outlook, sending Meta shares down nearly 8% in after-hours trading. 

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Ford Raises Annual Profit Forecast Again After Q2 Beat; Shares Jump Nearly 6% 

Ford Motor Company (NYSE: F) raised its full-year profit forecast for the second time in 2026 after reporting stronger-than-expected second-quarter earnings, sending its shares up nearly 6% during Wednesday’s trading session.  

The automaker now expects adjusted earnings before interest and taxes (EBIT) of $10 billion to $11 billion, up from its previous guidance of $8.5 billion to $10.5 billion. Second-quarter adjusted operating profit rose nearly 20% to $2.5 billion, while adjusted earnings came in at $0.42 per share, beating analysts’ estimates of $0.35.  

Revenue, however, declined 3.8% year over year to $48.3 billion. Ford also reported a $1.3 billion net loss, reflecting a $3.6 billion charge related to the dissolution of its battery partnership with South Korea’s SK On. Despite ongoing tariff costs and weakness in its electric vehicle business, investors welcomed the improved earnings outlook and stronger profitability. 

GE HealthCare (GEHC) Climbs 12% on Strong Earnings 

GE HealthCare Technologies Inc. (GEHC, Nasdaq) emerged as one of the strongest-performing healthcare stocks after delivering second-quarter results that exceeded analysts’ expectations across several key financial metrics. The company reported revenue of $5.3 billion, representing 5.7% year-on-year growth, while organic revenue increased 3.5%. Adjusted EPS rose to $1.13 from $1.06 a year earlier, outperforming market expectations and helping the shares rise around 12% during Wednesday’s trading. 

The company also recorded 11.1% growth in organic orders, taking its total order backlog to a record $23.9 billion, while achieving a book-to-bill ratio of 1.15 times during the quarter. Management reaffirmed its full-year guidance for 3%–4% organic revenue growth and adjusted EPS of $4.80–$5.00.  

Chief Executive Officer Peter Arduini said the company delivered record orders and backlog during the quarter, while confirming that GE HealthCare is reviewing strategic options for its underperforming Patient Care Solutions business to maximise long-term value. Profitability also benefited from tariff refunds received during the period, although management stated that no additional refunds are expected during the remainder of the year. 

Teradyne (TER) Rallies 8% on Robust AI Demand 

Teradyne Inc. (TER, Nasdaq) delivered one of the session’s strongest performances after reporting second-quarter results that comfortably exceeded analysts’ forecasts. The automated testing equipment manufacturer reported adjusted EPS of $2.47, surpassing consensus estimates of $2.05, while revenue more than doubled year on year to $1.32 billion, exceeding analysts’ expectations of $1.22 billion. The stronger financial performance pushed the company’s shares about 8% higher during early trading. 

Management also issued an upbeat outlook for the third quarter, forecasting revenue between $1.20 billion and $1.30 billion and adjusted EPS of $1.85 to $2.15, both ahead of prevailing market expectations. Chief Executive Officer Greg Smith attributed the guidance to continuing strength in AI-related semiconductor demand and rising investment in wafer fabrication equipment. The company’s comments reinforced expectations that spending on advanced semiconductor manufacturing and AI computing infrastructure remains a significant driver of demand for automated testing systems. 

SoFi Shares Slide 10% Despite Record Q2 Results as Profit Outlook Disappoints 

SoFi Technologies (NASDAQ: SOFI) reported a record-breaking second quarter, but its shares fell about 10% after investors focused on unchanged profit guidance despite stronger revenue expectations. The fintech company posted $1.2 billion in net revenue, up 43% year over year and ahead of analysts’ estimates, while earnings came in at $0.12 per share, also exceeding expectations.  

Adjusted EBITDA climbed 44% to a record high, marking SoFi’s 19th consecutive “Rule of 40” quarter. The company added a record 1.1 million new members during the quarter, taking its total membership to 15.8 million, while loan originations reached an all-time high of $14.8 billion. However, management kept its full-year adjusted EBITDA and EPS guidance unchanged despite raising its revenue outlook, citing expectations of higher interest rates. The cautious profitability outlook overshadowed the strong operational performance, sending SoFi shares down about 10% following the earnings release. 

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Seagate Beats Q4 Estimates on AI-Driven Storage Demand; Shares Rise 

Seagate Technology Holdings (NASDAQ: STX) reported stronger-than-expected fourth-quarter fiscal 2026 results, driven by robust AI-led demand for cloud storage and enterprise data center solutions. The company posted non-GAAP earnings of $5.71 per share, beating analysts’ estimates of $5.10, while revenue surged 48% year over year to $3.6 billion, ahead of consensus expectations. For the full fiscal year, revenue climbed 34% to $12.2 billion.  

Data center revenue jumped 57% to $2.9 billion, with exabyte shipments rising 43% year over year, reflecting continued investment by cloud customers in AI infrastructure. Seagate also achieved a record 52.7% non-GAAP gross margin, supported by disciplined pricing and a favorable product mix, while free cash flow increased 163% to $1.1 billion. Looking ahead, management expects fiscal 2027 revenue growth to outpace fiscal 2026. Investors welcomed the strong earnings beat and upbeat outlook, with Seagate shares gaining more than 2% following the results. 

Vertiv Shares Drop Despite Earnings Beat and Higher 2026 Guidance 

Vertiv Holdings (NYSE: VRT) reported stronger-than-expected second-quarter earnings and raised its full-year 2026 outlook, but investors focused on a revenue miss, sending the stock down more than 9% in pre-market trading. The data center infrastructure provider posted adjusted earnings of $1.52 per share, topping analysts’ estimates of $1.42, while revenue rose 18% year over year to $3.27 billion, missing the consensus forecast of $3.37 billion.  

Adjusted operating margin expanded 410 basis points to 22.6%, reflecting improved operational efficiency. Looking ahead, Vertiv raised its full-year adjusted EPS guidance to $6.65-$6.75, from $6.30-$6.40, and increased its revenue forecast to $13.8-$14.2 billion. Management cited accelerating AI-driven data center demand and a strengthening order pipeline, but the quarterly revenue shortfall overshadowed the improved outlook, weighing on investor sentiment. 

Humana Shares Slide Despite Q2 Earnings Beat and Reaffirmed 2026 Outlook 

Humana Inc. (NYSE: HUM) reported better-than-expected second-quarter 2026 results but saw its shares fall nearly 9% in pre-market trading as investors weighed a lower GAAP earnings outlook and ongoing Medicare Advantage uncertainties. The health insurer posted adjusted earnings of $7.61 per share, beating analysts’ estimates of $7.23, while revenue rose to $40.89 billion, ahead of the expected $40.56 billion. Humana reaffirmed its full-year adjusted EPS guidance of at least $9.00, above the consensus estimate of $8.96, and maintained its Insurance segment benefit ratio outlook of 92.75% ±25 basis points. 

The company also reiterated expectations for 25% Medicare Advantage membership growth in 2026 and announced a statewide Illinois Medicaid managed care contract effective in 2027. However, investors remained cautious after Humana lowered its full-year GAAP EPS guidance to at least $6.52, contributing to the sharp decline in the stock despite the earnings beat. 

P&G Shares Fall After Q4 Revenue Miss and Soft FY2027 Guidance 

Procter & Gamble (NYSE: PG) reported mixed fourth-quarter fiscal 2026 results, with adjusted earnings beating expectations but revenue falling short of Wall Street estimates, sending its shares down more than 3%. The consumer goods giant posted revenue of $21.2 billion, up 2% year over year but below analysts’ forecast of $21.38 billion, while adjusted earnings came in at $1.43 per share, ahead of the expected $1.41. Organic sales were flat, and both operating and gross margins contracted during the quarter.  

For fiscal 2027, P&G projected core earnings per share of $6.89 to $7.11, with net and organic sales growth of 1% to 3%. Management said productivity initiatives and product innovation would support future growth despite geopolitical and inflationary pressures. However, the weaker-than-expected revenue performance and cautious outlook weighed on investor sentiment, leading to a decline in the stock following the results. 

VF Corp Shares Drop Despite Revenue Beat and Higher Sales Outlook 

VF Corporation (NYSE: VFC) shares fell around 6% after the apparel maker reported a wider-than-expected first-quarter fiscal 2027 loss, overshadowing stronger-than-expected revenue and an improved sales outlook. The company posted an adjusted loss of $0.27 per share, compared with analysts’ expectations for a $0.22 loss, while revenue of $1.67 billion topped the consensus estimate of $1.64 billion despite declining 5% year over year.  

Excluding the divested Dickies business, revenue increased 1%. Gross margin improved 100 basis points to 54.9%, and net debt declined 20% year over year. VF also raised its full-year constant-currency revenue growth forecast to 2% or more, from 1%-2% previously, while maintaining its operating margin target of approximately 8%. Despite the improved outlook, the earnings miss weighed on investor sentiment. 

Biogen Raises 2026 Outlook After Q2 Earnings Beat; Shares Gain 

Biogen Inc. (NASDAQ: BIIB) reported stronger-than-expected second-quarter 2026 results, driven by robust sales of newer therapies and contributions from recently acquired products, prompting the company to raise its full-year guidance. Adjusted earnings came in at $3.60 per share, beating analysts’ estimates of $3.04, while revenue rose 3% year over year to $2.74 billion, ahead of the consensus forecast of $2.50 billion.  

Growth was fueled by strong demand for Skyclarys, Qalsody, Zurzuvae, and newly acquired drugs Syfovre and Empaveli, offsetting continued declines in its legacy multiple sclerosis portfolio. Biogen now expects mid-single-digit revenue growth in 2026 and raised its adjusted EPS guidance to $15.85-$16.85, from $15.25-$16.25 previously. Investors welcomed the stronger results and improved outlook, with Biogen shares rising about 2% following the earnings announcement. 

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AI Chip Sell-Off Deepens as Micron, SK Hynix Shares Tumble on China Competition Fears 

Shares of leading memory chipmakers came under heavy selling pressure as the broader AI-driven semiconductor rout intensified. Micron Technology (NASDAQ: MU) fell nearly 10%, while SK Hynix’s U.S.-listed shares dropped more than 8%, tracking a broader decline in the semiconductor sector. 

 The PHLX Semiconductor Index (SOX) slipped more than 3%, while Sandisk plunged 13%, AMD lost more than 7%, and semiconductor equipment makers including ASML, Applied Materials, and Lam Research also declined. Investor sentiment was hit by concerns over Chinese memory chipmaker ChangXin Memory Technologies (CXMT) following its blockbuster IPO and rapid expansion, raising fears of increased competition and weaker memory chip prices.  

Additional pressure came from concerns over the sustainability of massive AI infrastructure spending, uncertainty around future Federal Reserve policy, and reports of China’s advances in chipmaking equipment, prompting investors to reduce exposure to AI-linked semiconductor stocks. 

Apple (AAPL) Remains in Focus Ahead of Earnings 

Although Apple Inc. (AAPL, Nasdaq) did not report quarterly results on 29 July, the company remained closely watched ahead of its scheduled earnings announcement. Options markets indicated that Apple shares could move by around 4% following the release, while analysts continued evaluating the impact of recent iPhone demand, pricing actions and artificial intelligence initiatives on future financial performance. Apple therefore remained one of the market’s key companies ahead of another important earnings announcement later in the week. 

The 29 July 2026 US trading session was shaped primarily by company-specific developments, with quarterly earnings, revised financial guidance and strategic announcements driving share-price movements across technology, healthcare, consumer goods, financial services and industrial sectors. Results from major companies including Microsoft, Coca-Cola, Ford, GE HealthCare, Generac, Teradyne, Seagate and others highlighted how operational performance and updated business outlooks remained the principal catalysts behind stock-specific movements during the day’s trading. 

Source 

• https://www.nasdaq.com/ 

• spglobal.com/spdji/en/indices/equity/sp-500/ 

• https://www.dowjones.com/