Rockstar Energy founder Russ Savage has acquired a 4.7% stake in Celsius Holdings worth about $300 million and is demanding the removal of its CEO after disappointing second-quarter earnings.
AppLovin's shares dropped 19% to a 52-week low after reporting Q2 revenue of $1.92B, missing the $1.94B estimate. CEO Adam Foroughi attributed the miss to timing issues with AI-powered adtech model improvements.
Meta's stock tumbled nearly 8% after its Q2 earnings missed expectations, despite CEO Mark Zuckerberg's AI optimism. The company also raised expense forecasts, partly due to $2.4bn in legal charges from lawsuits alleging harm to children.
IBM reported earnings significantly below Wall Street's expectations, with its stock tanking 25% after a preliminary warning from CEO Arvind Krishna. The 115-year-old company's mainframe business saw a 42% decline, as customers diverted budgets to other hardware due to rising component costs driven by the AI boom.
Dick's Sporting Goods reported Q1 earnings miss due to $96.5M in Foot Locker acquisition costs, despite Foot Locker's 0.6% comparable sales growth and Dick's own 6% growth, leading to a combined 4.1% increase.
Honeywell reported Q1 2026 adjusted EPS of $2.45, beating estimates, but missed revenue expectations at $9.1B vs $9.3B expected. The industrial conglomerate announced it's selling Workflow Solutions to American Industrial Partners and set a June 29 date for Aerospace spin-off. Jim Cramer argues the breakup will eliminate conglomerate discount and create value, maintaining $250 price target.
Capital One reported Q1 earnings missing estimates with revenue of $15.23B (vs $15.36B expected) and adjusted EPS of $4.42 (vs $4.55 expected). This was the second consecutive earnings miss, driven by lower net interest income margin of 7.87%. However, non-interest income outperformed and the efficiency ratio improved to 49.71%. The stock fell 2% after hours but analysts see value, with the company trading at 10.5x 2026 EPS estimates.
