Palantir Soars 27%, Space X Shares Surge 9.4%, Caterpillar Jumps 6.6% as AI Boom, Earnings Beats and Mega Deals Drive US Stocks 

Mumbai, Aug 5: US stocks saw broad-based moves on Tuesday as blockbuster earnings, AI-driven demand and major corporate developments shaped investor activity. Palantir surged 27% after raising its outlook on strong AI demand, while Caterpillar gained 6.6% on record revenue and a higher forecast. Healthcare giants Merck and Pfizer advanced after earnings beats, while companies including Corvex, SentinelOne and Attovia attracted attention with AI deals, partnerships and capital market activity. 

SpaceX Shares Jump 9% After Q2 Revenue Soars 92%, First Post-IPO Earnings Beat Expectations 

SpaceX shares surged 9.4% to close at $125.33 on Tuesday after the company reported stronger-than-expected second-quarter results in its first earnings release since its June IPO. Revenue nearly doubled 92% year over year to $7.81 billion, beating analysts’ estimates of $6.93 billion, while the company posted a narrower-than-expected loss of 9 cents per share. Growth was driven by strong performances across its Space, Connectivity, and AI segments, with Starlink remaining the only profitable business. However, heavy spending on AI infrastructure continued to weigh on results, contributing to a $1.26 billion operating loss in the AI unit. Despite the rally, SpaceX shares remain below their $135 IPO price. 

Caterpillar Jumps 6.6%, Merck, Pfizer and McDonald’s Gain After Earnings Beat as AI Demand Powers Industrial Growth 

Caterpillar led the post-earnings rally on Tuesday, with shares surging 6.63% to $885.02, after the industrial giant delivered record second-quarter results and raised its full-year outlook. The company reported a historic $20.54 billion in revenue—the first time quarterly sales have crossed the $20 billion mark—while adjusted earnings of $8.17 per share comfortably beat analyst expectations. Strong demand for construction equipment and power systems supporting AI data centre projects lifted its backlog 92% year over year to $72.1 billion, prompting management to raise its 2026 revenue growth forecast. 

Among healthcare stocks, Merck rose 1.31% to $129.45 after second-quarter revenue climbed 5% to $16.61 billion, driven by blockbuster cancer drug Keytruda, whose sales reached $8.37 billion, exceeding estimates. The company also raised its full-year revenue guidance despite posting a quarterly loss due to acquisition-related charges. 

Pfizer gained 1.98% to $25.54 after reporting adjusted earnings of 77 cents per share on $15.03 billion in revenue, beating Wall Street expectations. Strong sales of Eliquis and other non-COVID medicines prompted the drugmaker to raise the lower end of its annual revenue guidance, even as it reduced forecasts for COVID-related products. 

Meanwhile, McDonald’s shares added 0.97% to $267.93 after adjusted EPS of $3.38 topped estimates, although revenue of $7.10 billion came in slightly below expectations. Investors welcomed positive comparable sales growth across all operating segments and the company’s continued resilience amid a challenging consumer environment. 

Kimberly-Clark, Rockwell Automation and Coca-Cola Europacific Post Mixed Results as Shares Diverge 

Kimberly-Clark (NASDAQ: KMB): Kimberly-Clark reported mixed second-quarter results, with adjusted EPS of $2.12 rising 10.4% year-over-year on revenue of $4.2 billion, up 0.6%. Adjusted operating profit increased 6.2% to $757 million, while adjusted gross margin expanded 190 basis points to 38.8%. The company updated its 2026 outlook, citing continued productivity gains and strategic transformation despite temporary weakness in China due to social media-related disruptions. Shares were little changed following the results. 

Rockwell Automation (NYSE: ROK): Rockwell Automation reported strong fiscal third-quarter results, with adjusted EPS of $3.49 and revenue of $2.31 billion, driven by 10% organic sales growth. Net income climbed to $408 million, while enterprise operating margin improved to 22.3%. The company raised its fiscal 2026 sales growth guidance to 7.5%-9.5% and adjusted EPS outlook to $13.00-$13.30. Despite the upbeat report, shares fell 7.64% to $444.26. 

Coca-Cola Europacific Partners (NASDAQ: CCEP): Coca-Cola Europacific Partners exceeded first-half expectations as revenue increased 4.4% to €10.72 billion and profit after tax rose 5.8% to €991 million, both ahead of estimates. Operating profit advanced 6.9% to €1.46 billion, supported by higher beverage volumes and disciplined cost management. The company reaffirmed its full-year 2026 guidance, but shares declined 2.29% to $105.71. 

BP Soars on Big Earnings Beat, While Spotify and Cummins Slide After Results 

BP shares rose 0.88% in after-hours trading to $44.65, recovering after closing the regular session 2.12% lower at $44.26, as investors welcomed the oil major’s stronger-than-expected second-quarter results. BP reported adjusted EPS of $2.22, beating estimates of $1.51, while revenue climbed to $69.11 billion, above the $61.79 billion consensus. The company also increased its dividend by 4%, reduced net debt by $3.1 billion to $22.3 billion, and generated $10.9 billion in operating cash flow. 

Marathon Petroleum Corp. (NYSE: MPC) reported stronger-than-expected second-quarter 2026 results, with adjusted earnings of $17.73 per share topping analysts’ estimate of $12.94 and revenue rising to $52.34 billion, ahead of the $41.16 billion consensus. The earnings surge was driven by robust refining margins, with the Refining & Marketing margin nearly doubling to $36.33 per barrel from $17.58 a year earlier. The company also returned $2.8 billion to shareholders through dividends and share buybacks. Shares rose 1.83% to $312.64 following the results. 

Spotify Technology S.A. (NYSE: SPOT) reported mixed second-quarter 2026 results, with earnings per share of €2.61 missing analysts’ estimate of €2.76 and revenue of €4.78 billion narrowly below the €4.79 billion consensus. Despite the earnings miss, Spotify crossed 300 million Premium subscribers, posted a record 33.4% gross margin, and generated €655 million in operating income with €797 million in free cash flow. The company guided for €5.0 billion in third-quarter revenue and 305 million Premium subscribers. Shares fell 3.4% to $469.80 following the results. 

Cummins Inc. (NYSE: CMI) reported mixed second-quarter 2026 results, with adjusted EPS of $6.73 missing analysts’ $7.26 estimate despite record revenue of $9.5 billion, above the $9.33 billion consensus. Strong demand for data centre power systems lifted sales, prompting Cummins to raise its full-year revenue outlook. Shares fell 8.2% following the results.  

Meanwhile, Duke Energy Corp. (NYSE: DUK) reported mixed second-quarter 2026 results, with adjusted EPS of $1.43 beating analysts’ $1.32 estimate, while revenue of $7.59 billion narrowly missed the $7.61 billion consensus. The utility reaffirmed its full-year adjusted EPS guidance of $6.55–$6.80. Shares were little changed, slipping 0.13% to $124.12. 

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

Palantir Surges 27% on AI Earnings; Vertex and Grab Advance After Raising Guidance 

Palantir Technologies (NASDAQ: PLTR) led gains among major US stocks, with its shares jumping 27.29% to $159.94 after the company reported second-quarter revenue of $1.94 billion, up 93% year-on-year and above market estimates. Commercial revenue soared 149% to $764 million, while government revenue rose 90% to $809 million. The company also raised its full-year revenue guidance to $8.15-$8.158 billion, citing growing demand for AI sovereignty solutions that enable organisations to keep sensitive data within their own systems. 

Vertex Pharmaceuticals (NASDAQ: VRTX) gained 1.70% to $478.74 after reporting second-quarter revenue of $3.33 billion, a 12% increase from a year earlier. The biotechnology company raised its full-year 2026 revenue guidance to $13.1-$13.2 billion from $12.95-$13.1 billion, supported by continued growth in its cystic fibrosis portfolio and newer therapies, while maintaining that its acquisition of Crinetics Pharmaceuticals is expected to close in the third quarter of 2026. 

Meanwhile, Grab Holdings (NASDAQ: GRAB) rose 2.86% to $3.78 after posting 22% year-on-year revenue growth to $997 million and a 21% increase in on-demand gross merchandise value to $6.5 billion. Quarterly profit reached $235 million, compared with $20 million a year ago. The company also raised its full-year revenue and adjusted EBITDA guidance and announced a new $750 million share repurchase programme. 

IDEXX Laboratories, Sysco, ADM Lead Strong Earnings Day; PEG Revenue Miss and Waters Raise Outlook 

IDEXX Laboratories (IDXX) reported stronger-than-expected second-quarter results, with adjusted EPS of $4.27 beating estimates of $3.96 and revenue rising 10% to $1.22 billion. Companion Animal Group sales and diagnostic testing demand remained strong, while gross margin expanded to 64%. The company raised its full-year revenue and EPS guidance. Shares gained 3.3% to $586.76 following the results. 

Sysco Corporation (SYY) reported fiscal fourth-quarter adjusted EPS of $1.53, beating estimates of $1.51, while revenue increased 4.7% year over year to $22.12 billion, ahead of forecasts. Operating income rose 10.6% to $983 million, and adjusted EBITDA reached $1.3 billion. Sysco introduced FY2027 guidance for 6%-7% sales growth and 9%-11% adjusted EPS growth, supported by AI-driven efficiency initiatives. Shares gained about 2% in pre-market trading. 

Public Service Enterprise Group (NYSE: PEG) reported adjusted second-quarter EPS of $0.86, beating the $0.80 consensus, despite revenue declining 8.9% year-over-year to $2.55 billion. PSE&G utility earnings rose to $342 million from $332 million, while electricity sales increased 2%. Higher interest costs weighed on power operations, but the company maintained its full-year 2026 EPS guidance of $4.28–$4.40. 

Archer-Daniels-Midland (ADM) reported second-quarter adjusted EPS of $1.84, comfortably beating estimates of $1.42, while revenue of $22.68 billion also topped forecasts. Earnings nearly doubled from a year earlier, supported by stronger operating performance. The company raised its full-year earnings outlook. Shares gained around 4% in pre-market trading following 

Waters Corporation (WAT) reported second-quarter revenue of $1.65 billion and adjusted EPS of $3.05, both exceeding expectations. Organic revenue grew 9% in constant currency, while its Biosciences and Diagnostic Solutions business outperformed guidance. The company raised its full-year 2026 revenue and adjusted EPS outlook. Shares gained about 6% in pre-market trading following the results. 

Apollo, TransDigm, Energy Transfer, Grainger, MPLX And AMETEK Move After Mixed Q2 Earnings; Apollo Slips Despite Revenue Beat 

Apollo Global Management (NYSE: APO): Apollo reported mixed second-quarter results, with adjusted EPS of $2.11 missing estimates of $2.16, while revenue nearly doubled expectations to $11.15 billion. Assets under management crossed $1.05 trillion, supported by $60 billion in net inflows. Shares fell 0.83% to $140.95. 

TransDigm Group (NYSE: TDG): TransDigm posted adjusted EPS of $10.87, beating estimates, while revenue rose 22.5% year-over-year to $2.74 billion. The aerospace supplier also raised its full-year revenue and earnings guidance. Shares gained 1.24% to $1,922.15. 

Energy Transfer (NYSE: ET): Energy Transfer delivered a strong beat, with adjusted EPS of $0.59 topping expectations and revenue surging to $34.33 billion. The partnership also lifted its 2026 adjusted EBITDA outlook. Shares rose 1.67% to $20.10. 

W.W. Grainger (NYSE: GWW) reported strong second-quarter results, with EPS of $12.01 and revenue of $5.02 billion, both topping estimates. Sales rose 10.3% year-over-year, while net earnings increased 18.3% to $570 million. The company raised its full-year 2026 outlook, including adjusted EPS guidance of $45.50–$47.25. Shares advanced 5.08% to $1,210.45. 

MPLX LP (NYSE: MPLX) reported mixed second-quarter results, with EPS of $1.06 missing estimates by one cent, while revenue of $3.31 billion beat forecasts and rose 10% year-over-year. Adjusted EBITDA increased to $1.78 billion, and the partnership raised its 2026 growth capital spending outlook to $2.9 billion. Shares gained 2.20% to $60.21. 

AMETEK (NYSE: AME) reported record second-quarter results, with adjusted EPS of $2.09 and revenue of $2.04 billion, both beating expectations. Sales rose 15% year-over-year, while operating margin expanded to 26.6%. The company raised its full-year 2026 guidance, forecasting adjusted EPS of $8.20–$8.30. Shares rose 3.45% to $198.62. Shares rose 3.45% to $198.62. 

Electronic Arts Holds Flat on Booking Miss; TKO Slips 0.24% and Sterling Drops 12.07% After Earnings 

Electronic Arts Inc. (NASDAQ: EA) traded nearly unchanged at $209.94, up just 0.01%, after reporting first-quarter bookings of $1.35 billion, below analysts’ expectations of $1.48 billion. The shortfall was attributed to weaker post-launch engagement for Battlefield 6, which affected in-game spending, although quarterly profit increased to $397 million from $201 million a year earlier. The results were announced days after a Saudi Arabia Public Investment Fund-backed investor consortium secured European Union approval for its proposed $55 billion acquisition of the company. 

TKO Group Holdings (NYSE: TKO) declined 0.24% to $183.88 despite delivering record second-quarter results. Revenue rose 18% year-on-year to $1.547 billion, while adjusted EBITDA increased 23% to $650 million. The company also raised its full-year 2026 revenue guidance to $5.775-$5.825 billion and adjusted EBITDA guidance to $2.275-$2.305 billion, supported by continued growth across its UFC, WWE and IMG businesses. 

Meanwhile, Sterling Infrastructure Inc. (NASDAQ: STRL) fell 12.07% to $537.66 even after reporting record quarterly performance. Revenue surged 90% year-on-year to $1.17 billion, adjusted earnings per share reached $5.80, exceeding analysts’ estimate of $4.99, while backlog expanded 116% to $4.33 billion. The company also raised its full-year 2026 revenue guidance to $4.00-$4.15 billion, citing strong demand across infrastructure and mission-critical projects. 

Also Read : US Stock Market Timings

ONEOK Falls 2.54%, Diamondback Slides 3.41% While SBA Communications Gains 3.34% After Earnings 

ONEOK Inc. (NYSE: OKE) declined 2.54% to $86.04 despite reporting stronger second-quarter results and raising its full-year 2026 guidance. Net income increased 13% year-on-year to $967 million, while adjusted EBITDA rose 7% to $2.12 billion, supported by record natural gas liquids (NGL) throughput and higher refined products volumes. The energy infrastructure company raised its 2026 adjusted EBITDA guidance to a midpoint of $8.35 billion and earnings per share guidance to $5.68. 

Diamondback Energy (NASDAQ: FANG) fell 3.41% to $191.97 even after reporting second-quarter revenue of $5.56 billion, up 51.2% year-on-year and ahead of market expectations. Adjusted earnings per share reached $6.48, while the company reduced net debt by $1.6 billion, increased production to around 4% above its original 2026 plan and highlighted lower operating costs alongside continued operational improvements. 

Meanwhile, SBA Communications (NASDAQ: SBAC) gained 3.34% to $185.54 after exceeding analyst estimates. Second-quarter revenue rose to $715.27 million, with adjusted earnings per share of $1.87 and site leasing revenue increasing 5.1% year-on-year. The company also updated its full-year 2026 outlook, reaffirmed growth expectations and declared a quarterly dividend of $1.25 per share. 

Corvex (+35.7%), Bending Spoons (+1.05%) and JFB Construction (+4.9%) Shares Move on AI Infrastructure Deal, Acquisition and Merger  

Corvex Inc. (NASDAQ: MOVE) shares jumped 35.7% to $14.60 after the company announced a multi-year agreement to provide Nvidia Blackwell GPU clusters with Quantum-2 InfiniBand networking to an AI customer. Corvex deployed liquid-cooled Nvidia HGX B200 capacity within two weeks and expects full run-rate revenue from the expanded infrastructure midway through the current quarter. 

Bending Spoons SpA (NASDAQ: BSP) shares rose 1.05% to $36.60 after agreeing to acquire Airtable in an all-cash deal valued at $1.285 billion. The acquisition marks Bending Spoons’ first major purchase since its Nasdaq debut and expands its strategy of acquiring and restructuring digital businesses. 

JFB Construction Holdings (NASDAQ: JFB) shares gained 4.9% to $4.26 after the company and XTEND filed an amended S-4 registration statement for their proposed merger. The combined entity, expected to be renamed XTEND AI Robotics, will focus on AI-powered robotics, with the deal targeted for completion in Q3 2026. 

Strategic Partnership Deals Drive Gains in Joby Aviation, D-Wave, and Healthcare Infrastructure Stocks 

Several companies announced major strategic partnerships on Tuesday, boosting investor interest across sectors including advanced air mobility, quantum computing, healthcare real estate, and mining exploration. 

Joby Aviation (NYSE: JOBY) jumped 8.5% to $8.00 after partnering with Atoms to develop a nationwide network of vertiports—next-generation transportation hubs for electric air taxis. The companies will initially target Florida, Texas, New York, and California, supporting Joby’s planned commercial rollout under the White House-backed eVTOL Integration Pilot Program (eIPP). The hubs will integrate electric aircraft, autonomous vehicles, ridesharing services, and charging infrastructure. 

D-Wave Quantum (NASDAQ: QBTS) gained 8.1% to $21.59 after announcing a collaboration with Nasdaq Verafin to develop quantum-hybrid applications for financial crime detection. The partnership begins with a proof-of-concept exploring how D-Wave’s quantum technology can enhance machine learning models to detect fraud, money laundering, and suspicious transaction patterns. 

In healthcare real estate, Catalyst Healthcare Real Estate and Nuveen Real Estate formed a $400 million equity joint venture expected to support approximately $1.3 billion in healthcare developments across the U.S. between 2026 and 2028, focusing on medical offices, specialty healthcare facilities, and academic health projects. 

Meanwhile, Golden Minerals (OTCQB: AUMN) established Sand Canyon Explorations LLC, a joint venture with Golden Gryphon USA to advance exploration of gold-silver mining claims in Humboldt County, Nevada. Golden Minerals holds a 60% stake, while Golden Gryphon owns 40%. The venture plans geophysical surveys and exploration work over the next 12 months to evaluate the property’s mineral potential. 

SentinelOne Climbs on AWS Partnership; SOPHiA Genetics and Thryv Announce New Collaborations 

SentinelOne (NYSE: S) rose 3.8% to $20.82, hitting a 52-week high of $20.94, after expanding its partnership with Amazon Web Services (AWS) to deliver unified AI governance for enterprise customers. The integration combines Prompt Security, Singularity Cloud Security, and Singularity AI SIEM with Amazon Bedrock AgentCore, enabling real-time AI policy enforcement, threat detection, and automated remediation. The full platform is expected to launch at AWS re:Invent 2026. 

Meanwhile, SOPHiA GENETICS (NASDAQ: SOPH) entered a multi-year collaboration with AstraZeneca to develop two companion diagnostics for precision oncology, supporting solid tumor and blood cancer therapies through decentralized testing. 

Separately, Thryv (NASDAQ: THRY) and Ooma (NYSE: OOMA) announced a co-marketing agreement to expand their reach among U.S. small businesses. The companies will launch joint sales and marketing initiatives, including webinars and cross-promotional campaigns, beginning in Q3 2026. Shares of SOPHiA GENETICS, Thryv, and Ooma were little changed following the announcements. 

Also Read: How to Invest in S&P 500 Stocks Through Index Funds

Attovia’s $289 Million IPO Headlines Public Offerings; Southern Company and Procore Lead Major Capital Raises 

U.S. capital markets remained active, led by Attovia Therapeutics (NYSE: ATTO), which raised $289 million in the day’s largest traditional IPO after upsizing its offering to 17 million shares priced at $17 each. At the IPO price, the biotech company is valued at approximately $775 million, assuming the underwriters fully exercise the overallotment option. 

In the SPAC market, BOA Acquisition Corp. II (NASDAQ: THEOU) raised $125 million, while ARC Group Securities Acquisition I (NASDAQ: FJDIU) secured $105 million. Prologis (NYSE: PLD) shares fell 2.8% in premarket trading after the logistics REIT launched a 15 million-share offering expected to raise about $2.1 billion. The proceeds will support potential acquisitions, including its proposed $19 billion takeover of UK warehouse operator Segro, one of the largest REIT deals. 

Capital-raising activity remained strong as Southern Company (NYSE: SO) upsized its convertible notes offering to $2.375 billion, while Procore Technologies (NYSE: PCOR) increased its 0% convertible notes sale to $825 million to support its DroneDeploy acquisition and other corporate needs.  

CAMP4 Therapeutics (NASDAQ: CAMP) closed the second tranche of its private placement, raising $50.1 million. The biotech issued 10.76 million shares and 21.93 million pre-funded warrants to fund development of CMP-002 for SYNGAP1-related disorder and its pipeline. Shares fell 2.73%. 

Galectin Therapeutics (NASDAQ: GALT) eliminated $105.8 million in debt after Chairman Richard E. Uihlein converted $91 million in principal and $14.8 million in accrued interest into equity. The company issued 34.4 million shares at an average conversion price of $3.07, strengthening its balance sheet. Shares fell 5.94%. 

Among corporate actions, Resideo Technologies (NYSE: REZI) completed the spin-off of ADI Global Distribution (NYSE: ADIG), using a $900 million dividend to reduce debt. Broadridge Financial Solutions’ board has raised the company’s quarterly dividend by 12%, to $1.09 from 97.5 cents, and approved a new $1.5 billion share-repurchase programme. The new quarterly payout, equal to $4.36 a year, represents an annual yield of about 2.77% based on Monday’s closing price of $157.34, up from 2.48% previously. 

CEO Changes: Danaher, Dave & Buster’s and American Bitcoin Announce Leadership Moves 

Danaher Corporation shares rose 2% after hours after Julie Sawyer Montgomery was named CEO, effective October 1, 2026, replacing Rainer Blair. Montgomery previously led Danaher’s Diagnostics platform, growing revenue from about $6 billion in 2017 to nearly $11 billion. The company also reaffirmed its 2026 financial guidance. 

Dave & Buster’s Entertainment appointed CFO Darin Harper as CEO after Tarun Lal retired. Shares were not significantly impacted following the leadership transition as the company continued its “Back to Basics” strategy focused on improving sales and operations. 

American Bitcoin Corp shares gained 5.1% after the company appointed Paul Sacks as Interim CFO following Matthew Prusak’s resignation. The company reported Q2 revenue of $67 million, record Bitcoin production of 932 BTC (up 14% QoQ), and treasury holdings of 8,002 BTC. 

Earnings strength, AI infrastructure demand and strategic corporate actions dominated US market movements, with Palantir, Caterpillar and Corvex among the biggest gainers. While several companies delivered strong results and raised guidance, others faced pressure despite operational improvements. Investors also tracked IPO activity, capital raises and leadership changes as companies positioned themselves for growth in an evolving economic environment. 

Source 

• https://www.nasdaq.com/ 

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

• https://www.dowjones.com/ 

• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-industrial-average/ 

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

• https://www.nasdaq.com/market-activity/index/comp 

• https://www.nasdaq.com/market-activity/quotes/nasdaq-ndx-index 

• https://www.spglobal.com/spdji/en/indices/equity/sp-100/ 

• https://www.lseg.com/en/ftse-russell/indices/russell-us 

• https://www.nyse.com/index 

• https://www.nyse.com/index 

• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-transportation-average/ 

• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-utility-average/ 

• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-composite-average/ 

• https://www.nasdaq.com/market-activity/index/sox 

• https://www.cboe.com/tradable_products/vix/