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British engineering company Rolls-Royce raised its full-year profit outlook after reporting a 46% jump in operating profit for the first half of the year. The strong performance was driven by improved civil aircraft after-market operations and increased defense demand.

• Rolls-Royce increased its full-year underlying operating profit forecast to £4.7-4.9 billion, up from previous guidance of £4.0-4.2 billion
• First-half operating profit surged 46% year-over-year, powered by stronger civil aviation aftermarket services
• Defense sector demand contributed to the upward revision, indicating broad-based strength across the company's divisions

Stellantis reported second-quarter operating income more than tripled to €773 million from €213 million year-over-year, driven by strong North American revenue growth. The automaker generated €1 billion in industrial free cash flows and saw revenues rise 13% to €43.48 billion, though results missed analyst expectations of €914 million.

• Q2 adjusted EBIT reached €773 million, up from €213 million a year earlier, but fell short of the €914 million analyst consensus
• Revenues increased 13% year-over-year to €43.48 billion, with North America providing the primary growth driver
• Stellantis confirmed full-year forecasts and expects US tariff costs for 2026 to total €1-1.2 billion

Anheuser-Busch InBev reported second-quarter results that exceeded analyst expectations, with organic operating profit rising 5.8% versus the forecast 4.6% growth. The world's largest brewer by market value benefited from increased demand across the Americas and a boost from its World Cup sponsorship, marking continued strong performance in 2026 after a challenging 2025.

• AB InBev achieved 0.9% volume growth, the second consecutive quarter of increases after years of declines
• Key global brands showed strong international performance: Corona revenues up 17%, Stella Artois up 19%, and Michelob Ultra up 21% outside their home markets
• Results indicate a broader industry rebound for major brewers in 2026 following previous headwinds from consumer income pressure, geopolitical issues, and weather challenges

Spanish bank BBVA reported second-quarter net profit of €3.06 billion, an 11.4% increase year-over-year, driven by strong performance in Mexico. The results exceeded analyst expectations of €2.96 billion, demonstrating the bank's solid operational momentum in key markets.

• Net profit reached €3.06 billion ($3.50 billion) for April-June period, up from €2.75 billion in the same quarter last year
• Results beat consensus estimates by approximately €100 million, surpassing the €2.96 billion analyst forecast
• Mexico operations were cited as the primary driver behind the profit growth

Hilleman Laboratories, a joint venture between Merck and Wellcome, is manufacturing an experimental vaccine against the Bundibugyo Ebola strain amid a deadly outbreak in the Democratic Republic of Congo that has killed 1,487 people. CEPI is providing up to $8.5 million in funding to advance the vaccine candidate developed by IAVI for early-stage clinical trials. Doses could be ready for testing by the end of 2024, with no currently approved vaccines or treatments available for this Ebola strain.

• The Congo outbreak has infected 3,360 people and killed 1,487 as of July 29, with cases rising at 'worrying speed' according to CEPI
• The vaccine uses the same rVSV platform as Merck's approved Ervebo vaccine for the Zaire Ebola strain and was identified by WHO as the most promising candidate in May
• CEPI is simultaneously funding other vaccine candidates including an $8.6 million investment in Oxford's ChAdOx1-based vaccine and up to $50 million for another Bundibugyo vaccine

Meta has emerged as the most influential social media company in India following Gen Z protests that forced Prime Minister Modi to respond, with WhatsApp averaging 837 million daily active users. This growing influence has triggered increased government scrutiny over content moderation, competition, privacy, and digital payments. India's information technology ministry has summoned Meta's policy heads and issued warnings about misinformation and deepfakes on its platforms.

• Meta dominates India's social media landscape with WhatsApp at 837 million daily active users, Instagram Reels at 408 million, compared to YouTube's 646 million and X's 15 million daily users
• During the July 18-26 protest period, Instagram Reels saw daily active users surge 18% to 408 million as the platform became central to organizing demonstrations
• India represents one of Meta's largest long-term monetization opportunities and is strategically more important than financially, making the company vulnerable to government action as platforms amplify anti-government voices

Samsung Electronics reported second-quarter operating profit of 89.4 trillion won, surpassing analyst estimates of 88.13 trillion won, driven by strong AI-related demand for memory chips. The company extended its record profit streak as artificial intelligence applications continue to fuel robust growth in its semiconductor business. Revenue came in slightly below expectations at 171 trillion won versus the estimated 172.65 trillion won.

• Operating profit reached 89.4 trillion won, beating the 88.13 trillion won estimate, representing continued momentum in the memory chip segment
• Revenue of 171 trillion won fell marginally short of the 172.65 trillion won analyst forecast
• Samsung's profit streak continues as sustained AI-driven demand for memory chips bolsters the company's semiconductor business performance

Sandwich chain Jersey Mike's priced its U.S. initial public offering at $23 per share, raising approximately $1 billion through the sale of around 43.5 million shares. The company, backed by private equity firm Blackstone, completed the pricing ahead of an official announcement.

• The IPO was priced at $23 per share, generating roughly $1 billion in proceeds
• Approximately 43.5 million shares were sold in the offering
• Private equity firm Blackstone is a backer of the sandwich chain

The U.S. Army awarded Lockheed Martin a record $58.62 billion contract for Patriot interceptor missile production through 2032. The deal addresses depleted U.S. weapons stockpiles caused by supplying allies and military operations in Iran. The contract converts a previous $4.7 billion one-year agreement into a seven-year multiyear procurement plan starting in fiscal 2026.

• The contract is a record-sized defense award, expanding from $4.7 billion (one year) to $58.62 billion over seven years (fiscal 2026-2032)
• U.S. weapons inventories have been strained by large-scale supplies to allies and munitions use in military operations in Iran
• The multiyear procurement plan aims to replenish critical air defense and precision-guided weapons stockpiles

Fortinet raised its annual revenue forecast on July 29 after reporting strong second-quarter results, driven by increased enterprise spending on cybersecurity amid rising ransomware attacks and data security threats. The California-based company now expects annual revenue between $8.02 billion and $8.18 billion, up from its previous forecast of $7.71 billion to $7.87 billion.

• Second-quarter revenue reached $2.05 billion, exceeding analyst estimates of $1.89 billion
• Third-quarter revenue is projected at $2.01 billion to $2.1 billion, above the $1.95 billion analyst consensus
• The company is transitioning to a subscription-led model and integrating generative AI across its cybersecurity products including firewalls and cloud-based threat protection

BAE Systems has been awarded a £5.9 billion contract by the UK government to advance work on Britain's next generation Dreadnought class nuclear-armed submarines. The contract is part of a wider £8.4 billion parliamentary package to fund Britain's continuous at-sea nuclear deterrent. Prime Minister Andy Burnham will announce the investment during a visit to BAE's Barrow-in-Furness shipyard where the submarines are being built.

• Four Dreadnought submarines are on order, with the first scheduled for delivery to the Royal Navy in the early 2030s to replace the ageing Vanguard fleet
• The contract will support tens of thousands of jobs and thousands of companies across the UK supply chain, including 22,000 apprenticeships by 2035
• The £5.9 billion ($7.8 billion) BAE contract represents the next phase of the Dreadnought program within the £8.4 billion total funding package approved by parliament

Meta's Reality Labs division, which develops VR headsets and AI-powered wearables, reported a $4.62 billion operating loss in Q2 2026, though this was narrower than the $5.07 billion loss analysts expected. The unit generated $431 million in revenue, up from $370 million year-over-year. Since late 2020, Reality Labs has accumulated over $80 billion in total operating losses.

• Q2 2026 operating loss of $4.62 billion was lower than analyst expectations of $5.07 billion, with revenue of $431 million beating estimates of $423.4 million
• Reality Labs has generated cumulative operating losses exceeding $80 billion since Meta began reporting it as a separate segment in Q4 2020
• Meta has shifted focus away from its underperforming metaverse efforts toward devices like Ray-Ban Meta smart glasses developed in partnership with EssilorLuxottica

SpaceX secured a $1.6 billion contract from the U.S. Space Force on Wednesday for 18 Falcon 9 launches through 2027, carrying Pentagon satellites for detecting and targeting airborne objects. The award is part of the Space Force's flagship launch procurement program and adds to SpaceX's approximately $7 billion in Pentagon contracts received this year, largely tied to the Trump administration's planned Golden Dome missile defense shield.

• The 18 missions were assigned across two task orders under a program where SpaceX competes with United Launch Alliance, Blue Origin, and other U.S. launch firms for mission assignments
• SpaceX has accumulated at least $7 billion worth of Pentagon contracts in 2026, with the company playing a major role in the administration's Golden Dome missile defense initiative
• The satellites to be launched will support Pentagon operations for detecting and targeting airborne objects as part of national defense capabilities

Robinhood Markets reported increased second-quarter profit driven by elevated trading activity on its platform. Market volatility stemming from the U.S.-Iran conflict and concerns over inflation and Federal Reserve policy prompted investors to rebalance portfolios, boosting transaction volumes. The results highlight how geopolitical uncertainty benefits retail trading platforms.

• Transaction-based revenue surged 44% to $776 million, with event contracts contributing $156 million
• Quarterly profit reached $573 million, or 62 cents per share
• Heightened market volatility from U.S.-Iran tensions over oil supplies drove retail investors to actively trade and hedge positions

Carvana reported record second-quarter profits and issued guidance forecasting $2.7 billion to $3 billion in adjusted earnings for the full year. The used car retailer posted Q2 net income of $513 million, up $205 million year-over-year, with vehicle sales rising 38% to 197,325 units. The company highlighted its tenth consecutive quarter of industry-leading growth and profitability.

• Second-quarter adjusted EBITDA reached a record $769 million, bringing first-half 2024 adjusted earnings to $1.4 billion total
• Revenue hit $7.38 billion in Q2, exceeding analyst estimates of $6.91 billion, while vehicle unit sales increased 38% year-over-year
• The company expects relatively flat performance in the second half versus the first, projecting $1.3 billion to $1.6 billion in adjusted earnings for H2 2024

Arm Holdings forecast second-quarter revenue above Wall Street estimates, driven by strong demand for its energy-efficient chip designs used in AI data centers. The company's royalty revenue rose 22% to $715 million and licensing revenue grew 23% to $574 million in the first quarter. Arm's new AI data center chip is exceeding expectations with demand surpassing $2 billion across fiscal years 2027-2028.

• Companies like Alphabet and Amazon are building custom AI chips using Arm's architecture, boosting licensing revenue and royalties as more complex chips ship to data centers
• Oracle has agreed to purchase Arm's new AI data center chip, with total demand now exceeding $2 billion across fiscal years 2027 and 2028, ahead of initial expectations
• Arm projected Q2 revenue of $1.38 billion versus analyst estimates of $1.34 billion, with Jefferies analysts forecasting the new chip could reach $18 billion in sales by fiscal 2031

Meta's stock dropped nearly 10% after the company issued disappointing revenue guidance and reported a dramatic decline in free cash flow. The tech giant's second-quarter results missed analyst expectations on key metrics, while capital expenditure guidance increased due to massive AI infrastructure investments. Free cash flow plummeted to $784 million from $8.55 billion a year earlier, raising concerns about Meta's heavy AI spending without a cloud computing business to offset costs.

• Meta forecast current quarter revenue of $61-64 billion (midpoint $62.5B), below analyst expectations of $63.15 billion, while daily active people came in at 3.6 billion, missing the 3.61 billion estimate
• Free cash flow collapsed 91% year-over-year to just $784 million as the company narrowed capital expenditure guidance to $130-145 billion (up from $125-145 billion prior range) to fund AI infrastructure including new data centers costing $50+ billion
• Total costs and expenses surged 55% to $42.03 billion, including $2.4 billion in legal charges and $1.18 billion in severance costs, while the Reality Labs VR unit posted $4.6 billion in operating losses despite $431 million in revenue

Chipotle Mexican Grill is set to report second-quarter earnings on Wednesday, with Wall Street expecting revenue of $3.33 billion and same-store sales growth of 1.4%. The company's stock has fallen more than 7% this year to a market value of roughly $44 billion, but analysts believe recent traffic struggles from value-conscious diners were temporary.

• Last quarter, Chipotle posted a 0.5% increase in same-store sales, surprising analysts who had expected a second consecutive decline
• Wall Street projects 1.4% same-store sales growth this quarter despite rising gas prices and consumer budget pressures
• Chipotle's full-year guidance forecasts flat same-store sales, with CFO Adam Rymer calling the outlook 'conservative' due to unpredictable consumer trends

Starbucks is set to report quarterly earnings on Wednesday, with analysts expecting the coffee chain to show its third consecutive quarter of same-store sales growth at 6%. The company's turnaround strategy, focused on faster service and more welcoming cafes rather than discounts, appears to be working under CEO Brian Niccol's leadership.

• Wall Street expects revenue of $9.16 billion and same-store sales growth of 6%, signaling continued momentum in the turnaround
• Starbucks projects fiscal 2026 global and U.S. same-store sales to increase by at least 5%
• The company shifted strategy away from discounts toward improving service speed and cafe experience to win back customers

The Federal Reserve held its key interest rate steady at 3.5%-3.75% in an unusual 9-3 vote, with three regional presidents dissenting in favor of a rate hike. The split decision reflects ongoing concerns about inflation, which has remained above the Fed's 2% target for over five years, and presents an early challenge to Chairman Kevin Warsh's leadership approach of reduced forward guidance.

• Three regional Fed presidents (Hammack of Cleveland, Kashkari of Minneapolis, and Logan of Dallas) voted against the hold, preferring a quarter-point rate increase to address persistent inflation pressures driven by tariffs and higher energy costs from the Iran conflict
• Markets had largely expected the hold, though CME FedWatch showed about a 1-in-3 chance of a surprise hike; the full committee in June projected one quarter-point increase by end of 2026
• Chairman Warsh is changing Fed communication practices by avoiding forward guidance and using shorter policy statements, though this approach has created 'an unusually high level of uncertainty' among market participants