💻 Street Takeaways - $AMD Advanced Micro Devices Q3 Earnings ($506.59 +$22.69) Overview: • Shares are trading +4.2% following EPS beating consensus by +7.2%/$0.14. Revenue came in +2.1% higher, as DC and Embedded beat by +3.6% and 2.8%, while Client missed by (4.2%), and Gaming beat by +16%. Gross margin missed consensus by (10bps), while opex was (2.7%) light, driving operating margin +130bps higher. Capex was (2%) below expectations, with FCF (30.1%) light. • Management guided Q4 revenue +4.4% above consensus, with a gross margin (30bps) light, and opex (6.5%) below. CY27 revenue growth was guided >80% y/y, with CPU >100% vs 70% prior, and DCAI growth now materially >100%. Notably, management expects CY27 opex to grow at less than half the pace of revenue. • Analyst commentary skewed positive, as strong results/guidance coincided with constructive 2027 commentary. Some pointed out that the solid results follow incremental weakness from INTC, and argued the beat/raise was likely a surprise. Most expect that DC strength is able to offset weakness from Client/Gaming, and noted that the Co expects to outperform the anticipated DD% CY27 industry decline (10% from INTC). CY27 color was a highlight, as growth expectations moved largely higher and coincided with durable GM commentary, and expectations for muted opex vs top-line growth, implying added O/L and margin expansion. Overall, analysts were incrementally positive, while some continue to see risks from component supply, DC readiness, and competition, and view the risk/reward as balanced given the premium to peers. $AMD #AdvancedMicro# #Earnings# #AI# #Semiconductors# #DataCenter# #AI# #AIChips# #MarginExpansion# #FinTwit# #ChipStocks# #TechEarnings# #Tech# Gain immediate access to earnings insights with #StreetAccount#:

JETBLUE EXPECTS 1-2 POINTS OF Q4 YOY OPERATING MARGIN EXPANSION AND A MEANINGFUL STEP-DOWN IN Q4 UNIT-COST GROWTH EXCLUDING FUEL, DESPITE FUEL PRICES FORECAST TO BE 85% HIGHER, SEEING Q4 REVENUE GROWTH OF 18-22% AND A Q4 FUEL PRICE OF $4.64/GALLON

Morgan Stanley says Street estimates conservative on AI margin impact: "Consensus expects AI Adopters to deliver 4.6% of EBIT margin expansion in 2025-26, modestly ahead of the S&P 500 and nearly twice the MSCI ACWI. Yet that advantage fades quickly in out year estimates, with expected margin expansion for Adopters converging toward the broader market in 2026-27 and 2027-28. Put differently, while estimates are beginning to reflect near-term margin benefits among companies with the most material AI adoption, analysts are not yet underwriting a sustained or compounding productivity benefit. This is especially notable given the meaningful margin inflection expected this year; consensus appears to recognize the initial benefit, but not its persistence."

S&P GLOBAL $SPGI Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.7B; +7% YoY 🔹 Adj. EPS: $4.58 (Est. $4.43) 🟢; +9% YoY 🔹 Adjusted Operating Margin: 53.5%; +60 bps YoY 🔹 GAAP Operating Margin: 53.2%; +800 bps YoY FY26 Guide: 🔹 Adj. EPS: $17.70-$17.95 (Est. $17.89) 🟡; from $17.50-$17.75 🔹 Revenue Growth: +7.4% to +8.4%; from +5.9% to +7.9% 🔹 Organic CC Revenue Growth: +7.5% to +8.5%; from +6.0% to +8.0% 🔹 GAAP EPS: $16.25-$16.50; from $16.35-$16.60 🔹 GAAP Margin Expansion: 310-335 bps; from 335-360 bps Segment Net Revenue: 🔹 Ratings: $1.3B; +2% YoY 🔹 Indices: $554M; +20% YoY 🔹 Energy: $645M; +6% YoY 🔹 Market Intelligence: $1.3B; +7% YoY Other Q3 Metrics: 🔹 Organic CC Revenue Growth: +7% 🔹 Share Repurchases: $2.6B Capital Return: 🔹 Dividend: $0.97/share Announcements: 🔹 Strategic Review: Capital IQ and associated data businesses Comments: 🔸 “Increasing demand for our benchmarks and unique intellectual property demonstrates our leadership in credit, equity, and commodities markets.” 🔸 “The businesses that are part of the strategic review are strong and have significant opportunities ahead of them as technology changes how customers access, analyze, and use information.”

$TSLA is right into the spot we have been dreaming about in the last 3 years: people waking up to what owning a self-driving car means, and ordering one. Means margin expansion and revenue growth ahead, while we wait for Cybercab and Optimus to ramp!

🚨Amazon $AMZN added to US Conviction List at Goldman Sachs Goldman Sachs analysts added to the firm's US Conviction List as part of its monthly update. Goldman believes Amazon is well positioned for compounded revenue growth and operating margin expansion on a multi-year horizon. It has a Buy rating on the shares with a $375 price target.

$PWR | Bernstein SocGen Group 𝘂𝗽𝗴𝗿𝗮𝗱𝗲𝘀 𝗤𝘂𝗮𝗻𝘁𝗮 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 from Market Perform to 𝗢𝘂𝘁𝗽𝗲𝗿𝗳𝗼𝗿𝗺, raises PT to $𝟳𝟳𝟱 from $𝟳𝟰𝟴 Analyst sees improving fundamentals, labor scarcity, transmission growth, margin expansion and M&A supporting 25% EPS CAGR.

DESIGNER BRANDS $DBI Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $730.6M (Est. $745M) 🔴; -1.2% YoY 🔹 Adj. EPS: $0.34 (Est. $0.26) 🟢 🔹 Adjusted Gross Margin: 47.9%; +430 bps YoY 🔹 Brand Portfolio: $86.3M; +17.9% YoY Raises FY26 Guide: 🔹 Adj. EPS: $0.47-$0.52 (Est. $0.39) 🟢 🔹 Revenue Growth: Flat to +1% Segment Net Revenue: 🔹 Retail: $671.1M; -2.2% YoY 🔹 Brand Portfolio: $86.3M; +17.9% YoY Other Q2 Metrics: 🔹 Comparable Sales: -2.4% 🔹 Gross Margin: 50.0%; incl. tariff recoveries 🔹 Adjusted Net Income: $19.2M (Est. $15.5M) 🟢 🔹 Operating Profit: $54.7M; incl. tariff recoveries Key Updates: 🔸 Tariff recoveries: $35.5M of IEEPA tariff cost recoveries recorded in gross profit this quarter, driving the GAAP gross margin and operating profit; excluded from the adjusted results Comments: 🔸 “significant improvement in profitability year-over-year, highlighted by meaningful gross margin expansion as well as impressive sales growth in our Brand Portfolio segment” 🔸 “improved retail trends and a positive start to the third quarter, giving us confidence in raising our full year guidance.”