Rebel’s Edge Notes

Global equity indices are trading generally higher, with notable gains in Asia led by the Nikkei 225 Index, which surged by 3.9%. n the UK, employment data released today indicated that the unemployment rate held steady at 4.9%, slightly better than expectations of a rise to 5%. Additionally, employment increased by 148k jobs in May, surpassing forecasts of an 85k increase and contributing to positive market sentiment.

Prediction Markets

DHR: Danaher Corporation reported its second-quarter 2026 results, revealing net earnings of $870 million, a 60% year-over-year increase. Adjusted earnings per share came in at $1.94, exceeding the consensus estimate of $1.84, while revenues rose by 5.5% to $6.3 billion, also surpassing expectations. However, the company’s guidance for third-quarter core revenue growth of 2.0% to 3.0% disappointed investors, contributing to a sharp decline in shares during pre-market trading. Despite raising its full-year adjusted EPS guidance to a range of $8.45 to $8.60, Danaher shares are experiencing a significant decline since Monday’s close.

MMM: 3M Co reported strong second-quarter results, exceeding analyst expectations with adjusted earnings per share of $2.40, surpassing the consensus estimate of $2.25. Revenue reached $6.5 billion, above the forecast of $6.4 billion, reflecting a year-over-year organic sales growth of 5.4%. Following this performance, 3M raised its full-year adjusted EPS guidance to a range of $8.80 to $8.95, up from the previous forecast of $8.50 to $8.70. The company also highlighted robust operating margins of 24.9%, an increase of 40 basis points compared to last year. As a result of these announcements, shares of 3M are sharply higher in pre-market trading.

COIN Up 12%: Why COIN is moving higher: Coinbase benefits directly from broader crypto market strength (Bitcoin holding near recent highs with ETF inflows) and positive company-specific developments. Key drivers include the launch of new perpetual futures products (e.g., for CRCL, HOOD, and MSTR), ongoing expansion of its Base layer-2 ecosystem (including tokenized assets and AI integrations), and analyst optimism around regulatory tailwinds like the CLARITY Act. As the leading U.S. crypto exchange, COIN acts as a high-beta play on digital asset adoption, trading volumes, and stablecoin revenue—factors amplified by any risk-on sentiment in equities and reduced regulatory uncertainty. This comes amid a semiconductor/tech rebound that often correlates with broader innovation/growth narratives. 

EFX: Equifax Inc reported its second-quarter 2026 financial results earlier today, revealing an 11% revenue increase to $1.700 billion, although net income fell 4% to $183.9 million. The company announced a $100 million legal settlement accrual, raising investor concerns despite beating adjusted EPS expectations of $2.25 against a consensus of $2.20. Guidance for third-quarter revenue and adjusted EPS fell slightly short of market estimates. Following the announcement, Equifax shares experienced significant downward pressure in pre-market trading, reflecting a decline since Monday’s close. Earlier in the session, the stock briefly rebounded from a session low but remains under substantial selling pressure.