Executive Summary
The 18 filings for the NASDAQ-100 stream reveal a market bifurcated between AI-driven growth and consumer/enterprise headwinds. Revenue growth is robust across the tech sector, with Meta (+28% YoY), Microsoft (+18% YoY), and Lam Research (+15.1% QoQ) leading, but margin pressures are a dominant theme.
Meta's operating margin collapsed to 31% from 43% YoY due to a 55% surge in costs, while Qualcomm's net income fell 25% YoY in the quarter. Insider selling is widespread and notable, with COOs and VPs at Meta, Alphabet, and Booking Holdings executing 10b5-1 sales, signaling potential caution at elevated valuations. Capital allocation is aggressive: Meta raised its capex guidance to $130-145B, and Starbucks used China sale proceeds for a $1.3B debt tender. A key risk is the divergence between top-line growth and profitability, particularly in AI infrastructure spending. The most critical development is the combination of record revenue at Lam Research and Microsoft with clear signals of cost inflation and margin compression, suggesting the market may soon pivot from growth-at-any-cost to a focus on free cash flow and ROIC.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: 8-K · Form 4 · 10-K · 10-Q · Schedule 13G
Tracking the trend? Catch up on the prior Nasdaq 100 Stocks SEC Filings digest from July 28, 2026.
Investment Signals (12)
- Lam Research ↓ (BULLISH)▲
Record revenue of $6.72B (+15.1% QoQ) driven by AI demand, with September quarter guidance of $8.10B (+20.5% QoQ) and non-GAAP EPS of $2.15 (+18.1% QoQ). This signals accelerating AI wafer fab equipment demand.
- Microsoft ↓ (BULLISH)▲
Commercial remaining performance obligation surged 84% YoY to $678B, indicating massive future revenue visibility from cloud and AI contracts. Azure revenue surpassed $100B for the fiscal year.
- Meta Platforms ↓ (BULLISH)▲
Revenue grew 28% YoY to $60.8B, with ad impressions up 14% and average ad price up 12%. Despite cost headwinds, core advertising demand remains robust.
- Starbucks ↓ (BULLISH)▲
Global comparable store sales rose 7.9% (transaction growth 4.2%, ticket growth 3.5%), and the company raised full-year guidance. Non-GAAP EPS surged 70% YoY to $0.85, signaling successful operational turnaround.
- ARM Holdings ↓ (BULLISH)▲
Revenue grew 22.4% YoY to $1,289M, with gross margins holding at 97.2%. Operating cash flow nearly tripled to $902M, indicating strong cash generation from licensing.
- Qualcomm ↓ (BULLISH)▲
QCT Automotive revenues surged 61% YoY to $1.6B, achieving 23 consecutive quarters of double-digit growth. This diversification away from handsets is a powerful long-term driver.
- BlackRock / PayPal (BULLISH)▲
BlackRock increased its PayPal stake by 8.8% (5.8M shares) to 71.8M shares (8.1% ownership), a significant vote of confidence from the world's largest asset manager.
- Meta Platforms ↓ (BEARISH)▲
Operating margin fell to 31% from 43% YoY, and free cash flow collapsed to just $784M. The 55% surge in costs and expenses ($42.03B) signals a period of heavy investment with uncertain near-term returns.
- Qualcomm ↓ (BEARISH)▲
Q3 revenues declined 4% YoY to $9.9B, and GAAP EPS fell 23% YoY to $1.87. Handset revenues dropped 20% YoY, and QCT EBT margin compressed to 26% from 30%.
- Microsoft ↓ (BEARISH)▲
More Personal Computing segment revenue declined 4% YoY, with Windows OEM down 7% and Xbox content down 10%, signaling weakness in consumer and gaming markets.
- Insider Selling Cluster (BEARISH)▲
COO at Meta sold $509K, VP at Alphabet sold $150K, Director at Booking sold $216K, and EVP at PepsiCo sold $405K. All were 10b5-1 plans, but the concentration of sales at/near highs suggests management sees limited near-term upside.
- ADP (BEARISH)▲
Fiscal 2027 guidance for revenue growth of 5-6% and EPS growth of 9-11% is below the 7% revenue growth and 11% EPS growth reported in FY2026, signaling a deceleration.
Risk Flags (10)
- Meta Platforms / Cost Inflation↓ [HIGH RISK]▼
Costs and expenses surged 55% YoY to $42.03B, including $2.4B in legal charges and $1.18B in severance. Full-year expense outlook raised to $165-169B, and capex guidance widened to $130-145B. This is a high-risk trajectory for margin recovery.
- Qualcomm / Inventory Build↓ [HIGH RISK]▼
Inventories rose 28.4% YoY to $8.379B, while Q3 revenues declined 4% YoY. This suggests potential over-ordering or demand softening, which could lead to future write-downs.
- Lam Research / Cash Flow Deterioration↓ [MEDIUM RISK]▼
Operating cash flow fell 42.9% YoY to $1.46B, and cash balance declined 12.6% YoY to $5.58B, despite record revenue. This reflects heavy capital return and potential liquidity strain.
- Microsoft / Intelligent Cloud Margin Pressure↓ [MEDIUM RISK]▼
Cost of revenue for Intelligent Cloud grew 44% YoY, significantly outpacing 30% revenue growth, indicating margin compression from AI infrastructure buildout.
- Analog Devices / Cybersecurity Incident↓ [MEDIUM RISK]▼
Unauthorized access on June 23, 2026, led to file exfiltration. A second, disparate cybersecurity matter was reported on July 26. While the company says it's not material, the pattern of two incidents in one month is a red flag.
- Starbucks / Restructuring Charges↓ [MEDIUM RISK]▼
The company recognized $302.6M in restructuring and impairment charges in Q3, up from $20.8M a year ago. This is a 14.5x increase, signaling ongoing operational disruption.
- ARM Holdings / Operating Income Decline↓ [MEDIUM RISK]▼
Despite 22.4% revenue growth, operating income fell 20.2% YoY to $91M due to a 27.8% increase in operating expenses. R&D expenses alone rose 28.9% to $838M.
- Qualcomm / Licensing Margin Compression↓ [LOW RISK]▼
QTL EBT margin declined to 69% from 71% YoY, and licensing revenues were flat at $1.472B. This is a key profit center showing signs of stagnation.
- PepsiCo / Insider Sale↓ [LOW RISK]▼
EVP & General Counsel sold $405K worth of stock at $139.54. While not a massive sale, the timing near a potential peak is worth monitoring.
- Intuitive Surgical / Insider Sale↓ [LOW RISK]▼
EVP sold a small number of shares (~$10K) under a 10b5-1 plan. While immaterial in size, it adds to the pattern of insider selling across the index.
Opportunities (9)
- Qualcomm / Automotive & IoT Diversification↓ (OPPORTUNITY)◆
QCT Automotive revenues surged 61% YoY to $1.6B, with 23 consecutive quarters of double-digit growth. Combined QCT Automotive and IoT revenues grew 28% YoY, offsetting handset weakness. This is a powerful diversification story.
- Starbucks / China Divestiture & Balance Sheet↓ (OPPORTUNITY)◆
The company used China sale proceeds to repurchase $1.3B in debt, reducing leverage. Shareholders' deficit improved to $7.67B from $8.10B. The streamlined balance sheet and raised guidance create a catalyst for re-rating.
- ARM Holdings / High-Margin Royalty Growth↓ (OPPORTUNITY)◆
With gross margins at 97.2% and operating cash flow nearly tripling to $902M, ARM is a high-margin, cash-generative play on AI and IoT. The 22.4% revenue growth is accelerating.
- PayPal / BlackRock Accumulation↓ (OPPORTUNITY)◆
BlackRock's 8.8% stake increase to 8.1% ownership is a strong signal from a sophisticated institutional investor. The filing certifies no intent to influence control, suggesting a pure investment thesis.
- Microsoft / Massive Backlog & Cloud Growth↓ (OPPORTUNITY)◆
Commercial RPO grew 84% YoY to $678B, providing exceptional visibility. Azure revenue surpassed $100B for the fiscal year, and Microsoft 365 Commercial cloud revenue grew 14% YoY.
- Lam Research / AI-Driven Demand Surge↓ (OPPORTUNITY)◆
Record revenue and guidance for 20.5% QoQ growth in the September quarter ($8.1B) indicate Lam is a direct beneficiary of the AI infrastructure buildout. The 15.1% QoQ growth in June is accelerating.
- Meta Platforms / Ad Revenue Momentum↓ (OPPORTUNITY)◆
Despite cost issues, ad revenue grew 28% YoY with 14% volume and 12% price growth. If the company can stabilize costs, the operating leverage is enormous.
- ADP / Steady Growth & Margin Expansion (OPPORTUNITY)◆
Fiscal 2026 adjusted EBIT margin expanded 80 bps to 26.8%, and Q4 margin expanded 140 bps to 25.1%. The 7% revenue growth and 11% EPS growth are consistent and high-quality.
- Starbucks / Dividend Growth↓ (OPPORTUNITY)◆
The company declared a $0.62 dividend, marking 65 consecutive quarters of payouts with a 17% CAGR. This is a reliable income stream in a volatile market.
Sector Themes (6)
- AI Infrastructure Spending Divergence◆
Lam Research (record revenue, +15.1% QoQ) and Microsoft (Azure >$100B, +30% YoY) are clear winners, but the cost of this buildout is compressing margins. Meta's 55% cost surge and Microsoft's 44% cloud cost growth highlight the tension between growth and profitability. [IMPLICATION: Investors should favor companies with strong free cash flow conversion, like Lam Research, over those with exploding cost bases.]
- Consumer & Enterprise Weakness◆
Microsoft's More Personal Computing segment (-4% YoY), Qualcomm's handset revenue (-20% YoY), and ADP's flat client retention (92.1%) all point to softening demand in consumer and traditional enterprise markets. [IMPLICATION: Diversification into AI, automotive, and cloud is critical for growth.]
- Widespread Insider Selling at High Valuations◆
COO at Meta, VP at Alphabet, Director at Booking, and EVP at PepsiCo all sold shares under 10b5-1 plans. While these are pre-planned, the concentration of sales at current levels suggests management teams see limited near-term upside. [IMPLICATION: Monitor for further insider selling as a potential top signal.]
- Capital Allocation Shift to Debt Reduction◆
Starbucks used $1.3B from the China sale to repurchase debt, while Meta is funneling cash into capex ($130-145B). This divergence shows a split between companies prioritizing balance sheet strength vs. growth investment. [IMPLICATION: Starbucks' debt reduction is a positive signal for credit quality; Meta's capex is a bet on future growth.]
- Automotive & IoT as New Growth Engines◆
Qualcomm's Automotive revenue grew 61% YoY, and combined QCT Automotive and IoT grew 28% YoY. This is a structural shift away from handset dependency. [IMPLICATION: Qualcomm is becoming a diversified semiconductor and automotive play, which could command a higher multiple.]
- Cybersecurity Risk Escalation◆
Analog Devices reported two cybersecurity incidents in one month (June 23 and July 26). This is a reminder of the systemic risk facing all tech companies. [IMPLICATION: Expect increased disclosure and investment in cybersecurity, potentially pressuring margins.]
Watch List (8)
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Watch for cost containment progress. The full-year expense outlook of $165-169B and capex of $130-145B are key. Any sign of slowing cost growth would be a major catalyst. [Date: Late October 2026]
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The company guided Q4 revenues of $9.7B-$10.5B and Non-GAAP EPS of $2.05-$2.25. Watch for handset recovery signs and Automotive momentum. [Date: Late July 2026]
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The guided revenue of $8.1B (+20.5% QoQ) is a key test of AI demand sustainability. Watch for any commentary on customer inventory levels. [Date: Late October 2026]
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The company raised guidance, but watch for the impact of restructuring charges ($302.6M in Q3) and the pace of China recovery post-divestiture. [Date: Late October 2026]
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Monitor for any material impact from the two cybersecurity incidents. Any customer loss or regulatory fine would be a negative catalyst. [Date: Ongoing]
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Watch for Azure growth rate and commercial RPO conversion. The 84% growth in RPO is a massive backlog; any slowdown in conversion would be a red flag. [Date: Late October 2026]
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Watch for operating expense control and royalty revenue growth. The 28.9% R&D increase is a risk; any sign of slowing expense growth would be positive. [Date: Late October 2026]
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Monitor for any further 13G filings or changes in BlackRock's position. An increase above 10% would be a major signal. [Date: Ongoing]
Filing Analyses
(18)
29-07-2026
ADP reported strong fiscal 2026 results with revenue up 7% to $21.9B and adjusted diluted EPS up 11% to $11.12. However, PEO Services segment margin declined 110 bps for the year, and Employer Services client revenue retention remained flat at 92.1%. Fiscal 2027 outlook includes revenue growth of 5-6% and adjusted diluted EPS growth of 9-11%.
- · Fiscal 2026 adjusted EBIT margin was 26.8%, up 80 bps.
- · Q4 fiscal 2026 adjusted EBIT margin was 25.1%, up 140 bps.
- · Fiscal 2026 effective tax rate was 23.0% on both reported and adjusted basis.
- · Q4 fiscal 2026 effective tax rate was 22.2% reported, 22.4% adjusted.
- · Fiscal 2027 outlook includes adjusted effective tax rate of approximately 23%.
- · Fiscal 2027 outlook for Employer Services: revenue growth 5-6%, new business bookings growth 4-7%, client revenue retention decrease of 10-30 bps, U.S. pays per control growth 0-1%.
- · Fiscal 2027 outlook for PEO Services: revenue growth 5-7%, revenue ex zero-margin pass-throughs growth 3-5%, average worksite employee count growth ~2%.
- · Fiscal 2027 client funds interest revenue outlook: $1.540-$1.560 billion, based on average client funds balances growth of 3-4% and average yield ~3.7%.
- · Fiscal 2027 total contribution from client funds extended investment strategy: $1.545-$1.565 billion.
- · Fiscal 2026 pre-tax gain of ~$5M from partial reversal of workforce optimization initiatives.
- · Fiscal 2026 pre-tax charges of ~$91M related to business alignment program.
- · Fiscal 2026 pre-tax gain of ~$8M from ADP Ventures' investments.
- · Fiscal 2026 pre-tax net charges of ~$18M from settlement of a legal matter.
- · PEO Services segment margin decreased 100 bps in Q4 and 110 bps for the fiscal year.
- · Employer Services client revenue retention remained flat at 92.1% for the fiscal year.
- · U.S. pays per control increased only 1% for both Q4 and fiscal year.
- · Fiscal 2027 outlook includes diluted EPS growth of 11-13% (GAAP) vs adjusted diluted EPS growth of 9-11%.
29-07-2026
Lam Research reported record revenue of $6.72B for the June 2026 quarter, up 15.1% Q/Q, driven by AI-driven demand. GAAP diluted EPS rose 24.8% to $1.81, and non-GAAP diluted EPS rose 23.8% to $1.82. However, the company's cash balance declined 12.6% year-over-year to $5.58B, and operating cash flow fell 42.9% YoY to $1.46B, reflecting heavy capital return activities.
- · Revenue guidance for September 2026 quarter is $8.10B +/- $400M, with non-GAAP gross margin of 52.0% +/- 1% and non-GAAP diluted EPS of $2.15 +/- $0.15.
- · Geographic revenue distribution for June 2026 quarter: Taiwan 27%, China 26%, Korea 20%, Japan 9%, United States 9%, Southeast Asia 5%, Europe 4%.
- · Systems revenue was $4.25B (63.2% of total) and customer support-related revenue was $2.47B (36.8% of total) in the June 2026 quarter.
- · Deferred revenue increased to $2.43B from $2.22B Q/Q, and estimated future revenue from Japan shipments rose to $490.2M from $434.3M.
- · Cash used for financing activities was $480.3M in the June 2026 quarter, including $246.6M for treasury stock purchases and $325.3M for dividends.
- · Trailing twelve months revenue reached $23.23B, up 26.0% from $18.44B in the prior period.
- · GAAP operating margin improved to 37.4% from 35.0% Q/Q, and non-GAAP operating margin improved to 38.4% from 35.0% Q/Q.
29-07-2026
Starbucks reported Q3 FY2026 results with global comparable store sales up 7.9%, driven by transaction growth of 4.2% and ticket growth of 3.5%. However, consolidated net revenues declined 1% to $9.3 billion, reflecting the impact of the China retail operations divestiture. GAAP EPS rose 86% to $0.91 and non-GAAP EPS rose 70% to $0.85, while the company raised its full-year guidance.
- · The company used a portion of China sale proceeds to repurchase approximately $1.3 billion aggregate principal amount of outstanding notes via tender offers.
- · Starbucks submitted IEEPA tariff refund requests in Q3 and has received substantially all refunds, largely offsetting tariffs incurred in the first three quarters of fiscal 2026.
- · The Board declared a cash dividend of $0.62 per share, payable August 28, 2026, marking 65 consecutive quarters of dividend payouts with a 17% CAGR.
- · Fiscal 2026 guidance raised: Q4 U.S. comp sales growth of 6.5% or greater; full-year U.S. comp sales growth slightly greater than 6.0%; global comp sales growth nearing 6.0%; non-GAAP EPS range of $2.55 to $2.65; approximately 600 to 650 net new coffeehouses globally.
- · North America segment store count declined 2% YoY to 18,371, while International segment store count grew 3% to 22,933.
- · GAAP operating margin expanded 60 bps to 10.5%, but was partially offset by higher restructuring costs and labor investments for 'Back to Starbucks'.
29-07-2026
ARM Holdings reported strong Q1 FY26 results with total revenue of $1,289M, up 22.4% YoY from $1,053M, driven by growth in both external and related-party revenue. Net income more than doubled to $270M from $130M, and operating cash flow surged to $902M from $332M. However, operating income declined 20.2% to $91M from $114M due to a 27.8% increase in operating expenses, and the company reported a negative foreign currency translation adjustment of $2M versus a positive $23M in the prior year.
- · Revenue from external customers grew 24.3% YoY to $901M, while revenue from related parties increased 18.3% to $388M.
- · Gross profit margin remained high at 97.2% in Q1 FY26 vs 97.2% in Q1 FY25.
- · Research and development expenses increased 28.9% YoY to $838M, and SG&A expenses rose 22.4% to $317M.
- · Income from equity investments surged to $128M from $4M in the prior year.
- · The company generated $902M in operating cash flow, up from $332M, but used $326M in financing activities (including $278M for tax withholding on vested shares).
- · Total liabilities increased 6.2% sequentially to $2.566B, driven by a rise in other current liabilities.
- · Share-based compensation cost was $345M in Q1 FY26, up from $241M in Q1 FY25.
29-07-2026
Meta Platforms reported Q2 2026 revenue of $60.8B, up 28% YoY, driven by a 14% increase in ad impressions and a 12% rise in average ad price. However, net income fell 14% to $15.85B and operating income declined 8% to $18.78B as costs and expenses surged 55% to $42.03B, including $2.4B in legal charges and $1.18B in severance. Free cash flow was just $784M, and the company raised its full-year expense outlook to $165-169B while narrowing capex guidance to $130-145B.
- · Q2 2026 operating margin fell to 31% from 43% a year ago.
- · Effective tax rate rose to 16% from 11% in Q2 2025.
- · Capital expenditures (including finance leases) were $31.08B in Q2 2026, up from $16.54B in Q2 2025.
- · Free cash flow was only $784M in Q2 2026, down sharply from $9.02B in Q2 2025.
- · Long-term debt increased to $83.66B as of June 30, 2026, from $58.74B at year-end 2025.
- · The company raised its full-year 2026 expense outlook to $165-169B and narrowed capex guidance to $130-145B.
- · Q3 2026 revenue guidance is $61-64B, with a 1% FX headwind.
- · The company faces ongoing legal and regulatory risks, including youth-related trials in the U.S. that could result in material losses.
- · Share repurchases were zero in Q2 2026, compared to $10.17B in Q2 2025.
29-07-2026
Arm Holdings plc reported its financial results for the first quarter of fiscal year 2027 (ended June 30, 2026) via an earnings press release and shareholder letter filed on Form 6-K. The filing includes the quarterly financial performance and management commentary. Revenue grew 15% YoY to $1.5B, driven by strong licensing and royalty revenue. However, operating expenses increased 12% YoY, and adjusted EBITDA margin slightly declined to 52% from 54% in the prior year quarter.
- · The filing is a Form 6-K for the month of July 2026, covering Q1 FY27 results.
- · Exhibits include an earnings press release (99.1) and a shareholder letter (99.2).
- · The report is signed by Laura Bartels, Chief Accounting Officer.
29-07-2026
EVP, Gen Counsel & Corp Sec Flavell David sold 2,900 PepsiCo, Inc. Common Stock at $139.54 (~$405K). Flavell David holds 74,825 shares after the transaction.
- · EVP, Gen Counsel & Corp Sec Flavell David sold 2,900 PepsiCo, Inc. Common Stock at $139.54 (~$405K)
29-07-2026
Microsoft reported strong Q4 FY26 results with revenue of $90.0B (+18% YoY), operating income of $40.6B (+18%), and GAAP net income of $35.8B (+31% YoY). Microsoft Cloud revenue reached $59.3B (+27% YoY), and Azure revenue surpassed $100B for the fiscal year. However, the More Personal Computing segment declined 4% YoY, with Windows OEM and Devices revenue down 7% and Xbox content and services revenue down 10%, partially offset by search advertising revenue growth of 10%.
- · Q4 FY26 GAAP diluted EPS was $4.81, up 32% YoY; non-GAAP diluted EPS was $4.74, up 23% YoY.
- · Commercial remaining performance obligation grew 84% YoY to $678 billion.
- · Microsoft 365 Commercial cloud revenue increased 14% YoY (16% adjusted for prior year revenue recognition).
- · Microsoft 365 Consumer cloud revenue increased 24% YoY (22% constant currency).
- · LinkedIn revenue increased 12% YoY (10% constant currency).
- · Dynamics 365 revenue increased 13% YoY (12% constant currency).
- · Azure and other cloud services revenue increased 43% YoY.
- · Search advertising revenue (ex-TAC) increased 10% YoY (9% constant currency).
- · Microsoft returned $10.2 billion to shareholders in Q4 via dividends and share repurchases.
- · FY26 total revenue was $331.8 billion (+18% YoY), operating income $155.2 billion (+21% YoY), GAAP net income $133.7 billion (+31% YoY).
- · FY26 GAAP diluted EPS was $17.95 (+32% YoY); non-GAAP diluted EPS was $17.28 (+22% YoY).
- · Q4 results included a $3.2 billion gain from investment in Anthropic and lower-than-expected Voluntary Retirement Program expenses, partially offset by Xbox severance and impairment charges.
- · The net impact from OpenAI investments added $480 million to GAAP net income in Q4 and $4,963 million for FY26.
29-07-2026
Microsoft reported strong FY2026 results with revenue of $331,839M, up 18% YoY, driven by 30% growth in Intelligent Cloud revenue to $137,791M. Net income surged 31% to $133,749M and diluted EPS rose 32% to $17.95. However, the More Personal Computing segment saw a 1% revenue decline to $54,052M, and cost of revenue for Intelligent Cloud grew 44%, outpacing revenue growth.
- · Intelligent Cloud cost of revenue grew 44% YoY, significantly outpacing its 30% revenue growth, indicating margin pressure.
- · More Personal Computing revenue declined 1% YoY to $54,052M, while operating income grew only 2%.
- · Research and development as a percent of revenue decreased from 12% to 11% YoY.
- · Sales and marketing as a percent of revenue decreased from 9% to 8% YoY.
- · General and administrative as a percent of revenue decreased from 3% to 2% YoY.
29-07-2026
Qualcomm reported mixed results for the third quarter and first nine months of fiscal 2026. For the quarter ended June 28, 2026, total revenues declined 4.0% YoY to $9,947M, and net income fell 24.9% YoY to $2,002M, driven by higher operating expenses and a lower income tax benefit. However, for the nine-month period, net income surged 42.9% YoY to $12,377M, largely due to a significant income tax benefit of $4,136M. The company's balance sheet strengthened, with total assets increasing 14.4% to $57,367M, but cash and cash equivalents decreased 17.9% to $4,533M, and inventories rose 28.4% to $8,379M.
- · Licensing revenues remained flat YoY at $1,472M for Q3 FY2026.
- · Research and development expenses increased 17.1% YoY to $2,607M in Q3 FY2026.
- · Selling, general and administrative expenses rose 26.6% YoY to $976M in Q3 FY2026.
- · Net cash provided by operating activities for 9M FY2026 was $8,405M, down 16.1% from $10,016M in the prior year period.
- · Capital expenditures for 9M FY2026 were $1,578M, up 101.0% from $785M in 9M FY2025.
- · The company repurchased $6,806M of common stock and paid $2,868M in dividends during 9M FY2026.
- · Short-term debt increased to $2,489M at June 28, 2026, from $0 at September 28, 2025.
- · Long-term debt decreased to $12,781M from $14,811M over the same period.
- · Total stockholders' equity increased 30.4% to $27,658M from $21,206M.
- · Dividends per share announced for Q3 FY2026 were $0.92, up from $0.89 in Q3 FY2025.
29-07-2026
Qualcomm reported Q3 FY2026 revenues of $9.9B, down 4% YoY, with GAAP EPS of $1.87 (down 23% YoY) and Non-GAAP EPS of $2.21 (down 20% YoY). While handset revenues declined 20% YoY to $5.1B, combined QCT Automotive and IoT revenues grew 28% YoY, with Automotive surging 61% to $1.6B. The company completed its acquisition of Modular Inc to create an open software foundation for generative and agentic AI, and guided Q4 FY2026 revenues of $9.7B-$10.5B with Non-GAAP EPS of $2.05-$2.25.
- · QCT Automotive revenues have achieved 23 consecutive quarters of double-digit year-over-year growth.
- · QCT EBT margin declined to 26% from 30% YoY; QTL EBT margin declined to 69% from 71% YoY.
- · Total assets increased to $57.4B from $50.1B at fiscal year-end 2025, largely due to goodwill increase to $14.3B from $11.4B (likely from Modular acquisition).
- · Inventories rose to $8.4B from $6.5B at fiscal year-end 2025, a 28% increase.
- · Operating cash flow for the nine months ended June 28, 2026 was $8.4B, down from $10.0B in the prior-year period.
- · Capital expenditures for the nine months were $1.6B, nearly double the $785M in the prior-year period.
- · The company expects non-handset revenue growth to accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027.
- · Q4 FY2026 GAAP diluted EPS guidance is $1.22-$1.42, well below the $1.87 reported in Q3 FY2026.
- · The semiconductor industry is experiencing broad-based input cost increases across wafer fabrication, assembly, test, advanced packaging, memory and other materials.
29-07-2026
Director WITTMAN VANESSA AMES sold 1,125 Common Stock at $192.00 (~$216K). WITTMAN VANESSA AMES holds 16,508 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · Director WITTMAN VANESSA AMES sold 1,125 Common Stock at $192.00 (~$216K)
29-07-2026
Analog Devices disclosed a cybersecurity incident on June 23, 2026, where unauthorized access to certain systems led to the exfiltration of files. The company activated incident response protocols, engaged external experts, and notified law enforcement, but operations were not interrupted. Separately, on July 26, 2026, ADI became aware of public reports regarding a disparate cybersecurity matter and is assessing its validity and potential impact; the company does not believe the June incident will materially impact its business, operations, or financial condition.
- · The unauthorized access was detected on June 23, 2026.
- · External cybersecurity experts were engaged for containment and investigation.
- · Law enforcement has been notified and is coordinating with the company.
- · Certain files were exfiltrated; investigation into the nature and scope is ongoing.
- · To the company's knowledge, the data has not been publicly released or used for fraudulent purposes.
- · A separate, unrelated cybersecurity matter was reported publicly on July 26, 2026, and is under assessment.
- · The company does not believe the June incident is reasonably likely to materially impact its business, operations, or financial condition.
29-07-2026
Starbucks reported mixed Q3 FY2026 results. Net earnings attributable to Starbucks surged 87.2% YoY to $1,045.3M, driven by a $536.3M net gain from a divestiture and lower restructuring costs. However, total net revenues declined 1.4% YoY to $9,322.7M, with company-operated store revenues falling 3.9% YoY, partially offset by licensed store growth of 8.6% YoY. The company also recognized $302.6M in restructuring and impairment charges in the quarter, up from $20.8M in the prior year.
- · Total assets decreased 11.6% to $28,294.7M from $32,019.7M at the end of FY2025, primarily due to the divestiture.
- · Shareholders' deficit improved to $7,674.3M from $8,096.6M at the end of FY2025.
- · Cash provided by operating activities for the first three quarters was $3,604.1M, up 7.1% from $3,365.7M in the prior year period.
- · Net cash used in financing activities was $4,944.2M in the first three quarters, compared to $365.2M used in the prior year period, driven by $2,815.9M in long-term debt repayments and $2,118.0M in dividends.
- · Goodwill decreased to $1,238.8M from $3,368.9M at the end of FY2025, likely related to the divestiture.
- · The company reported a net gain of $536.3M from the divestiture of certain operations in Q3 FY2026.
29-07-2026
EVP & Chief Mfg and Supply Cha Brosius Mark sold 28 Common Stock at $365.58 (~$10.2K). Brosius Mark holds 1,322 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · EVP & Chief Mfg and Supply Cha Brosius Mark sold 28 Common Stock at $344.00 (~$9.63K)
- · EVP & Chief Mfg and Supply Cha Brosius Mark sold 28 Common Stock at $365.58 (~$10.2K)
- · EVP & Chief Mfg and Supply Cha Brosius Mark sold 28 Common Stock at $360.21 (~$10.1K)
29-07-2026
VP, Chief Accounting Officer Saraci Marsida sold 449 Class C Capital Stock at $333.20 (~$150K). Saraci Marsida holds 27,386 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · VP, Chief Accounting Officer Saraci Marsida sold 449 Class C Capital Stock at $333.20 (~$150K)
29-07-2026
Chief Operating Officer Olivan Javier sold 837 Class A Common Stock at $607.85 (~$509K). 5 transactions reported in total. Olivan Javier holds 80,701 shares after the transaction. Trades executed under a Rule 10b5-1 plan.
- · Chief Operating Officer Olivan Javier sold 837 Class A Common Stock at $607.85 (~$509K)
- · Chief Operating Officer Olivan Javier sold 82 Class A Common Stock at $607.85 (~$49.8K)
- · Chief Operating Officer Olivan Javier sold 57 Class A Common Stock at $607.85 (~$34.6K)
- · Chief Operating Officer Olivan Javier sold 82 Class A Common Stock at $607.85 (~$49.8K)
- · Chief Operating Officer Olivan Javier sold 408 Class A Common Stock at $607.85 (~$248K)
29-07-2026
BlackRock, Inc. filed a Schedule 13G/A with the SEC on July 29, 2026, reporting beneficial ownership of 71,769,305 shares of PayPal Holdings, Inc. common stock as of June 30, 2026, representing an 8.1% stake. The filing indicates a decrease from the prior reporting period, where BlackRock held 65,970,653 shares with sole voting power, while the total reported shares have increased to 71,769,305, reflecting a net increase of 5,798,652 shares or 8.8% from the prior amount. The filing is made under Rule 13d-1(b) and certifies that the securities were acquired in the ordinary course of business without intent to influence control.
- · The filing is an amendment (Schedule 13G/A) to a prior Schedule 13G.
- · BlackRock's sole voting power is 65,970,653 shares, while total beneficial ownership is 71,769,305 shares, indicating shared dispositive power over 5,798,652 shares.
- · No single person's interest in PayPal common stock exceeds 5% of the total outstanding shares.
- · The filing includes a Power of Attorney dated January 21, 2025, authorizing multiple individuals to execute SEC filings on behalf of BlackRock.
- · BlackRock certifies the securities were acquired in the ordinary course of business and not with the purpose of changing or influencing control of PayPal.
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