Analysis: Stocks

FUCHS Pref.: Pre-buying boost Q2 prelim numbers

EARNINGS/SALES RELEASESFuchs announced strong Q2 2026 preliminary results, driven by pre-buying and likely market share gains. The FY 2026 guidance is slightly positive. The Iran war led supply chain...

Dassault Aviation: Rafale ramp drives beat, optionality builds beyond FCAS

Earnings/sales releases Dassault Aviation’s H1 confirms that the Rafale ramp is translating into stronger earnings quality, with a better mix and clearer operating leverage. Falcon demand is also...

Temenos: Home alone with $20m left on the 2Q table

Earnings/Sales releases Temenos delivered a two-sided second quarter. On one hand, a shortfall in the SaaS segment driven by sales-cycle delays, notably in Europe, which caused the company to miss...

SCA: Sequential Q2 rebound offers valuable respite, also for the sector

Earnings/Sales releases SCA’s Q2 results were much-better vs. tough Q1 and also marginally exceeded street expectations. While Forest and Energy remained strongholds – with latter also benefiting...

FORTUM: HY-26 : Q2 disappoints as lower achieved prices and nuclear outages weigh

Earnings/Sales releases Fortum's Q2 results were mixed but, above all, disappointing, with earnings missing consensus despite stronger-than-expected hydro generation at 4.4TWh. Achieved prices...

Randstad: Improving topline, opex discipline

Earnings/Sales releases Organic revenue growth accelerated in Q2 2026, driven by Operational and Enterprise segments, with growth returning in North America and Germany. Trading conditions remained...

VAT Group: AI-driven semiconductor capex fuels record order momentum; strategic acquisition broadens long-term growth

Earnings/Sales releases VAT Group delivered a strong Q2 26 report, driven by AI infrastructure investments. H1 2026 order intake increased by 75% YoY, while Q2 orders reached a record CHF 500 million,...

Lonza Group: Mixed results as Integrated Biologics' growth offsets strong operating performance

Earnings/Sales releases Lonza published its 1H results, with a strong operating performance but a mixed revenue outcome. The group grew by +16% YoY, with strong FX headwinds affecting only the...

Norsk Hydro: Impressive Q2 and re-emerging tensions in Middle East offer an(other) opportunity

Earnings/Sales releases On the back of Iran war-induced Aluminium price gains, Norsk Hydro reported strong Q2 results. While Primary Metal was an obvious major beneficiary, rebound in Extruded...

Iberdrola: H1 26: RAB Compounding Accelerate, Now with Finland

Earnings/Sales releases Iberdrola's H1 2026 confirms the networks-led thesis. Reported net profit rose 22% to €4.34bn, the Mexican thermal disposal gains earmarked for yesterday's Caruna...

AkzoNobel: No surprises in Q2 from Akzo

Earnings/Sales releases Akzo's Q2 2026 sales saw positive pricing more than offsetting volume and mix declines. Deco volumes remain subject to consumer confidence, explaining a Q2 decline and,...

Santander: Confirmed guidance

Earnings/Sales releases The second quarter results, which were impacted by the first consolidation of TSB, were largely in line with expectations, thus enabling the management to confirm its guidance...

EFG International: Navigating Margin Pressure

Earnings/Sales releases EFG's first semester results show resilient underlying growth, supported by record AuM and a stronger capital position. The key point to watch going forward is margin...

SSAB: Q226: strong improvement yoy…as expected.

Earnings/Sales releases SSAB's Q2 26 results met expectations, with a 20% yoy increase in EBITDA driven by stronger prices and volumes. However, Q3 is expected to weaken due to SEASONALITY,...

Kone: Solid order growth unable to shake concerns from the TKE deal

Earnings/Sales releases Kone’s Q2 results delivered a strong beat on orders resulting from strong demand in Modernisation along with decent growth in New Equipment. Revenues met expectations and...

AI Is Opening Doors for Tech Mahindra but Can Growth Keep Accelerating?

Strong deal momentum supports Tech Mahindra's improving performance, but limited upside expectations highlight a cautious market view.

J D Wetherspoon: Decent Q4 sales, but another profit warning

Earnings/sales releases JD Wetherspoon’s Q4 pre-close update was mixed, with lfl sales growing 4.0% yoy and YTD growth at 4.2% yoy. However, management warned that FY25/26 profit will be below...

Switch 2 Launch Powers Nintendo Revenue but Markets on Hold

Investors are actively questioning the price of global expansion for Nintendo Co., Ltd.

Icade: Low point still expected in 2026

Earnings/Sales releases Despite the general environment and end markets that remain unfavorable for both office and residential development in France, Icade reiterates its FY 2026 guidance and its...