Markets & Finance

Samsung's Q2 2026 preliminary results showed operating profit of roughly 89.4 trillion Korean won, up approximately 19-fold year-on-year, yet shares fell nearly 7% the following session as investors focused on new fab spending commitments and questions about AI infrastructure capex durability rather than the record itself. Two days later, SK Hynix gained 5.3%, Micron 4.5%, Nvidia 3.9%, and TSMC 3.4%, while SK Hynix simultaneously priced a $26.5 billion US ADR offering that was more than seven times oversubscribed. The sequence matters because ASML reports Q2 2026 bookings on July 15, and those figures will provide the clearest public signal of whether foundry capital spending is holding at current levels or beginning to slow.

PepsiCo reported Q2 2026 net revenue of $24.18 billion, beating consensus by roughly $230 million, while core EPS of $2.20 missed the LSEG estimate by one cent; international segments carried the quarter, with EMEA operating profit up 103% and international organic revenue up 7%, while Frito-Lay North America posted a 2% organic revenue decline from deliberate price cuts of up to 15% on flagship snack brands. The company affirmed full-year guidance only because an expected one-percentage-point EPS contribution in Q3 from refund claims on tariffs paid in 2025 will offset rising commodity costs, meaning the guidance framework depends on a one-time recovery rather than operating leverage. Management attributed weaker U.S. snack and beverage demand directly to higher gasoline prices, flagging oil-driven input cost pressure and consumer budget reallocation toward fuel as the primary headwinds for the back half of 2026.