Rebel`s Edge Notes
Rebel’s Edge Notes
Most stocks in the S&P 500 are trading above their 50-day moving average for the first time since February.
“This isn’t bearish,” said Ryan Detrick, chief market strategist at Carson Group, noting that roughly 70% of the index’s constituents also remain above their 200-day moving average.
Prediction:
Kalshi vs CME
CME: Launches single stock futures enabling investors to trade SpaceX, Micron and others 23 hours a day.
RCL Flips from Down to Up!: Royal Caribbean Royal Caribbean, an S&P 500 cruise operator, was the largest percentage decliner, trading near $286. The drop came on the day of its Q2 2026 earnings release and conference call. RCL) turned around from its pre-market losses primarily because of a strong Q2 2026 earnings report released this morning.The company reported results above expectations and raised its full-year guidance. Adjusted EPS of $4.21 (beat consensus estimates that were in the ~$3.93–$3.98 range). Total revenue of $4.8 billion, up 6% year-over-year. Load factor of 110%. Pre-earnings volatility is common in the travel sector, especially after mixed peer results and ongoing sensitivity to fuel costs, booking trends, and consumer spending. Investors appear to be positioning cautiously ahead of the numbers.
IQV Up 13%: IQVIA Holdings is moving higher today after the company reported strong second-quarter 2026 results that beat expectations and raised its full-year outlook. Revenue came in at approximately $4.37 billion (up about 8.7% year-over-year), with adjusted EPS of $3.15 (up roughly 12%), driven by solid performance in both R&D Solutions and Commercial Solutions, along with healthy net new bookings and a book-to-bill ratio above 1.2x. The raised 2026 guidance for revenue, adjusted EBITDA, and earnings per share reassured investors about continued demand in clinical research and healthcare data analytics, prompting the positive stock reaction.
GLW down 18%: Corning is declining sharply today despite reporting a solid second-quarter 2026 earnings beat, as investors focused on the forward outlook. Core sales reached $4.74 billion (up 17% year-over-year) and core EPS hit $0.78 (above the roughly $0.76 consensus), powered by Optical Communications growth of 32%—including a 65% jump in enterprise networks tied to AI data-center demand—plus strong solar sales. However, the stock fell 15% or more in premarket trading because the Q3 guidance and overall commentary, while showing continued growth and raised long-term targets linked to deals with major tech firms, fell short of the elevated expectations built up during Corning’s strong AI-driven rally earlier in the year.