Jack of All Trades

RTX record $340B backlog and 27% EPS beat lead defense; GE Aerospace orders surged 49% with raised full-year guidance. ISRG surgical robotics margin hit 41.6%. Netflix operating income jumped 37% despite stock pullback on ad-tier pace. 3M raised guidance on data center demand.

Fifth Third’s first clean Comerica quarter: 38% EPS beat, ROTCE 20.6%. ServisFirst hits 30.2% efficiency. Cleveland-Cliffs posts strongest EBITDA in three years. HDFC Bank guides NIM inflection ahead.

Ericsson surged 9–11% on a 29% EPS beat as Networks sales jumped 17% QoQ on Japan and India demand. M&T Bank beat by 14% YTD; Regions posted clean credit with NCOs falling to 0.29%. Truist reset its balance sheet under new CEO Mike Lyons.

TSMC reported $46.7B revenue, up 41%, with Q4 guidance of $52–54B — the largest quarterly semiconductor guide ever. BNY, IBKR, and Marsh McLennan all beat estimates on strong fee income and trading volumes.

BlackRock crossed $15.5T in AUM on $205B of inflows. Morgan Stanley posted record Wealth Management revenues of $9.1B. BAC missed on a regulatory charge. Progressive beat estimates but dropped 8% on growth concerns.

Goldman Sachs posted its second-best quarter ever as equities surged 72%. JPMorgan missed on EPS with rising credit costs. Citi hit its best Q3 revenue in a decade. UnitedHealth’s medical care ratio improved to 88.4%, while Johnson & Johnson raised its full-year sales guide to $101.2B.

Three consecutive days — LEVI (Oct 6), HELE (Oct 7 excerpt) and now PEP + HELE (Oct 8) — all requiring tariff refund decomposition. The Q3 2026 earnings season analytical filter is now established: headline margin beats are suspect until confirmed ex-tariff.

Levi Strauss beat EPS by 33% but $0.11 of $0.12 came from tariff refunds. Applied Digital beat revenue by 208% but most of it was one-time construction work. Both stocks fell anyway.

Apogee raised guidance twice and beat all four segments. Lamb Weston confirmed its QSR recovery. RPM set a Q1 revenue record. Constellation beat EPS but depletions fell — the market noticed.

Accenture's record $84.5 billion in bookings and 400+ AI clients prove consulting scales on complexity, while McCormick beats on adjusted EPS but organic growth of just 1.9% and a $15.7 billion Unilever deal send the stock down nearly 5%.