One of the world’s biggest names in tech just stunned Wall Street with blowout earnings, surging revenue, and a no-holds-barred AI vision that could reshape the market. From capex shockwaves to talent raids, this is one story every investor is watching. Find out why this stock is racing toward a $2 trillion milestone.

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What to Watch
Premarket Earnings:
Mastercard Incorporated [MA]
AbbVie Inc. [ABBV]
S&P Global Inc. [SPGI]
Unilever PLC [UL]
KKR & Co. Inc. [KKR]
Sanofi [SNY]
Comcast Corporation [CMCSA]
Ferrari N.V. [RACE]
Anheuser-Busch InBev SA [BUD]
Intercontinental Exchange Inc. [ICE]
Southern Company (The) [SO]
Sumitomo Mitsui Financial Group Inc. [SMFG]
Bristol-Myers Squibb Company [BMY]
Roblox Corporation [RBLX]
The Cigna Group [CI]
Howmet Aerospace Inc. [HWM]
CVS Health Corporation [CVS]
ING Group, N.V. [ING]
Air Products and Chemicals, Inc. [APD]
Quanta Services, Inc. [PWR]
TC Energy Corporation [TRP]
Exelon Corporation [EXC]
Alnylam Pharmaceuticals, Inc. [ALNY]
VALE S.A. [VALE]
Xcel Energy Inc. [XEL]
AMETEK, Inc. [AME]
Argenx SE [ARGX]
Vulcan Materials Company [VMC]
Cameco Corporation [CCJ]
Xylem Inc. [XYL]
PG&E Corp [PCG]
Willis Towers Watson Public Limited Company [WTW]
International Paper Company [IP]
EMCOR Group, Inc. [EME]
Kellanova [K]
Cenovus Energy Inc [CVE]
PPL Corporation [PPL]
Aftermarket Earnings:
Apple Inc. [AAPL]
Amazon.com, Inc. [AMZN]
Stryker Corporation [SYK]
KLA Corporation [KLAC]
MicroStrategy Incorporated [MSTR]
Coinbase Global, Inc. [COIN]
Banco Bilbao Viscaya Argentaria S.A. [BBVA]
Arthur J. Gallagher & Co. [AJG]
Cloudflare, Inc. [NET]
ResMed Inc. [RMD]
Ingersoll Rand Inc. [IR]
Monolithic Power Systems, Inc. [MPWR]
LPL Financial Holdings Inc. [LPLA]
Rocket Companies, Inc. [RKT]
Ameren Corporation [AEE]
Economic Reports:
Initial Jobless Claims [Week of July 26]: 8:30 am
Employment Cost Index [Q2]: 8:30 am
Personal Income [June]: 8:30 am
Personal Spending [June]: 8:30 am
PCE Index [June]: 8:30 am
PCE (Year-over-Year) [June]: 8:30 am
Core PCE Index [June]: 8:30 am
Core PCE (Year-over-Year) [June]: 8:30 am
Chicago Business Barometer (PMI) [July]: 9:45 am

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*Results may not represent all stock picks and may reflect partially closed positions. Investing involves risk, and past performance does not guarantee future results. This is not financial advice.

Consumer Discretionary
Used Car Retailer Carvana Co. Accelerates After Q2 Rebound

Carvana Co. [CVNA] continued its comeback tour with a strong second-quarter report that highlighted both top-line growth and improved profitability. Revenue surged 42% year-over-year to $4.84 billion, driven by a 41% increase in retail units sold. The shares are up 16% in premarket trading this morning.
The company also posted a net income of $38 million, a sharp turnaround from a significant loss in the same quarter last year.
A relentless focus on operational efficiency, smarter inventory management, and market expansion is powering this shift. Carvana has aggressively reduced costs, optimized logistics, and retooled its platform to handle higher volumes with lower overhead.
These efforts are paying off with adjusted EBITDA hitting $621 million for the quarter, with margins expanding 200 basis points to 12.4%.
Even more ambitious are Carvana’s forward targets. Management reiterated its long-term vision of reaching 3 million vehicles sold annually and sustaining EBITDA margins above 13%. That’s a bold leap from today’s volumes, but if achieved, it would vault Carvana into a dominant position in U.S. auto retail.
Though shares are already up over 67% year-to-date, the market’s reaction suggests investors see more room to run, especially with macro tailwinds like declining interest rates and strong used-car demand supporting the space.
With high volatility, a lofty valuation, and rapid growth expectations, this isn’t a stock for the risk-averse. But for momentum-focused traders or long-term bulls, Carvana’s Q2 report suggests the engine is still running hot.

AI Infrastructure
AI Infrastructure Builder Applied Digital Corp Pops After Narrowing Losses

Applied Digital Corp [APLD] is gaining momentum after posting a narrower-than-expected loss for its fiscal fourth quarter. The company reported an adjusted loss per share of just $0.03, beating Wall Street’s forecast of -$0.14. While revenue came in at $38 million, shy of the $42 million estimate, it still marked a 41% year-over-year gain.
The stock jumped over 21% in premarket trading, reflecting investor optimism not just in the quarter’s beat, but in Applied’s broader vision: building out the digital backbone for artificial intelligence workloads. The company specializes in high-performance computing (HPC) data centers designed to handle the enormous demands of AI training and inference.
Despite a net loss of $26.6 million, Applied Digital generated positive adjusted EBITDA and remains confident in its roadmap.
Leadership reaffirmed its ambitious target of $1 billion in annual net operating income within 3–5 years, a staggering goal for a company with just over $2 billion in market cap. Key to that strategy is accelerating campus development and scaling new infrastructure for enterprise clients seeking specialized compute capacity.
CEO Wes Cummins noted that Applied is “roughly halfway” to its internal targets and hinted at additional data center builds beginning in 2025.
The company also disclosed a new banking partner incentivized to expedite financing efforts, potentially improving its debt profile, which currently sits at $688 million.
For investors chasing early-stage AI infrastructure plays, Applied Digital offers asymmetrical upside, but the path forward hinges on execution, financing, and rapid market adoption.

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Technology
AI and Social Media Giant Meta Platforms Inc. Breaks Out After Crushing Q2

Meta Platforms Inc. [META] delivered a blowout second quarter that has Wall Street buzzing. The company posted earnings per share of $7.14, far exceeding the $5.88 consensus, while revenue surged 22% year-over-year to $47.5 billion.
Core ad metrics outperformed expectations, and daily active users continued to climb, but the bigger story is Meta’s aggressive push into artificial general intelligence (AGI).
The company spent $17 billion this quarter on data centers, AI infrastructure, and compute resources, bringing year-to-date capital expenditures to $31 billion.
It expects full-year spending between $66–$72 billion, with even more planned for 2026. This is a company that is trying to own the future of AI.
CEO Mark Zuckerberg described AGI as the company's new north star, while Meta continues to poach elite researchers from Apple, Google, OpenAI, and Anthropic to build out its superintelligence division.
CFO Susan Li confirmed that hiring will ramp further in Q3, with AI-driven initiatives at the center of the company’s long-term strategy.
Importantly, Meta can afford it. Operating cash flow totaled $26 billion this quarter alone, giving the company ample firepower to reinvest without pressuring margins or buybacks.
Shares jumped almost 12% in premarket trading and now sit within striking distance of a $2 trillion market cap, a milestone that, until recently, seemed reserved for only two companies.
For investors, this is a reminder that Meta may be building the platform that powers the next digital decade, and after $2 trillion comes $3 trillion.

Movers and Shakers

Alignment Healthcare Inc [ALHC] – Last Close: $13.00
Alignment Healthcare provides Medicare Advantage plans and support services for seniors. The company has shown tremendous long-term revenue growth, and that trend accelerated this quarter.
Shares are up more than 21% in premarket trading after the company beat on both earnings and revenue, with Q2 sales rising 49% year over year. It also raised full-year guidance across the board and swung to a GAAP profit of $0.07 per share, a major improvement from last year’s loss and well ahead of analyst forecasts.
My Take: ALHC is gaining traction at the right time, with fundamental improvements in margins and scale. If it maintains operating leverage, the stock could re-rate higher as a rare profitable Medicare Advantage growth play.
Udemy Inc [UDMY] – Last Close: $6.99
Udemy is an online learning platform with both consumer and enterprise-facing segments. The company just hit a major milestone by reporting its first quarter of GAAP profitability.
The stock is up over 10% in early trading after reporting Q2 EPS of $0.16 vs. $0.12 expected, with revenue also beating forecasts. Enterprise ARR rose 6%, and Udemy Business remains the main growth engine as demand for AI upskilling expands. Adjusted EBITDA margin hit 14%, up more than 1,000 basis points from last year.
My Take: UDMY’s pivot to profitability could be a turning point if the enterprise segment keeps growing. Still trading well below prior highs, it looks like a reasonable AI-leveraged turnaround name to watch.
Modine Manufacturing Co [MOD] – Last Close: $113.62
Modine manufactures thermal management systems for commercial, industrial, and automotive applications. Though underperforming YTD, it continues to post reliable earnings beats.
The stock is up nearly 10% premarket after Q1 EPS of $1.06 beat estimates by 14%. Revenue also topped forecasts for the fourth straight quarter. Strength in the HVAC segment and vehicle electrification are helping offset softness elsewhere.
My Take: MOD is an underrated industrial with strong execution and upside to earnings revisions. If it continues to beat and raise in Q2 and Q3, investors could revalue the stock despite recent weakness.

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Everything Else
AB InBev outperforms globally but struggles to revive U.S. beer sales.
OpenAI turns to Norway for a massive GPU-powered training hub backed by 100,000 Nvidia chips.
Trump’s 15% tariff on South Korean imports reshapes supply chains across autos and tech.
Shell’s Q2 profit slips nearly 30%, but beats expectations thanks to gas trading strength.
Small caps offer all the pain for none of the discount as investor sentiment sours.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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