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It’s Sunday.
Here’s an interesting fact I stumbled across recently:
U.S. executives are selling stock at the second-fastest pace in more than 20 years.
Corporate insiders sold $77.6B in the first half of 2026, up 20% from last year, according to EPFR Global Market Intelligence.
Insider buying, meanwhile, remained muted at just $6.9B.
This doesn’t guarantee the market is near a top, but it does suggest executives are far from eager to add personal exposure at current valuations.
Key Data Bites Over The Last Week:
Morningstar shared their top 33 undervalued stocks for Q3.
Taiwan Semi saw sales surge 68% YoY in June.
Biggest U.S. banks shrunk workforces by most in 6 years.
White House teleprompter operator made >$100K on Trump’s speeches.
Trump Media pitched $100K monthly fee for fast feed of Trump’s posts.
Uber to buy Delivery Hero in $14.8B deal.
IBM posted worst trading day in 115-year history.
China’s economy grew at weakest pace in 4 years.
Stripe and Advent offered to buy PayPal for more than $53B.
U.S. inflation slowed from 4.2% to 3.5% in June.
ASML is giving employees globally a one-time bonus of $22,862.
In today’s newsletter:
🏦 J.P. Morgan’s Massive Profits
👑 ASML Towers Europe
🌷 UnitedHealth’s Comeback
🪫 Lucid $10,000 Investment
📉 Netflix’s Worst Crash Since 2022
Let’s jump right in.
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Wall Street’s biggest bank is still breaking records.
JPMorgan earned $21.2B in Q2, the most profitable quarter ever reported by a U.S. bank.
The quarter was helped by a surge in stock trading revenue and a $4.6B gain from its Visa stake.
Over the last 12 months, JPMorgan has now generated a whopping $64B in net profit.
Even with Jamie Dimon warning about inflation, geopolitics, and elevated asset prices, the bank continues to print record profits.
The AI supply chain has a gatekeeper.
ASML makes the lithography systems that advanced chipmakers rely on to scale production.
That position continues to be lucrative as AI demand pushes customers to expand capacity.
The Dutch company beat earnings expectations and raised its 2026 sales forecast up to €45B, raised sharply from its prior outlook.
ASML is also planning to increase production capacity by roughly 30% in each of the next two years.
Nearly all of its added EUV capacity through 2027 is already booked, giving the company rare visibility into future demand.
In the AI supply chain, ASML remains essentially impossible to replace.
UnitedHealth has finally stopped the bleeding.
The company crushed second-quarter estimates, earning $6.38 per share on $112B in revenue.
More importantly, management raised its 2026 adjusted earnings outlook to $19.50 to $20 per share, up from its prior forecast of more than $18.25.
The improvement came from better medical cost control, higher pricing, and exiting unprofitable contracts.
UnitedHealth’s medical benefit ratio fell to 86.7%, down from 89.4% last year and better than the 88.5% analysts expected.
Costs are still elevated, and management called the turnaround a multiyear journey.
But after two years of pressure, the earnings recovery is finally showing up.
Lucid is trying to prove there’s still juice left in the tank.
Shares rallied after the company denied a report that it was considering bankruptcy, calling the claim completely false.
The stock had plunged as much as 57% intraday before rebounding sharply.
But the longer-term picture is still brutal.
Lucid remains deeply unprofitable, continues to burn cash, and needs its lower-cost vehicle strategy to broaden demand.
For long-term investors, it’s been far from a smooth ride, with a $10,000 investment five years ago now worth just $304.
Netflix has a sequel problem.
The company reported Q2 earnings results that were roughly in line with expectations, but its third-quarter guidance came in below Wall Street targets.
Shares fell sharply after the report as investors focused on slowing engagement, weaker guidance, and the company’s decision to cut viewing-hour reports to once a year.
Netflix is still highly profitable, but the easy subscriber-growth story is no longer enough.
The next phase depends on advertising, live events, gaming, pricing, and whether the company can keep expanding revenue without the same level of user growth.
Investors aren’t convinced, and the stock now finds itself down nearly 50% from its all-time high.
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📆 Model Setback↗ – Google is months behind schedule on its flagship Gemini 3.5 Pro model as it works to improve coding performance.
🇨🇳 China Leaps↗ – Chinese startup Moonshot AI released a new AI model that outperformed many advanced OpenAI and Anthropic models on some benchmarks.
👍 Buffett’s Bet↗ – Warren Buffett said he initiated Berkshire Hathaway’s recent Alphabet investment, not successor Greg Abel.
🔎 Value Hunt↗ – Michael Burry sees bargains in Hong Kong stocks after they missed this year’s global AI rally.
🔊 AI Companion↗ – OpenAI is reportedly developing its first hardware device, a screen-free AI smart speaker that syncs with ChatGPT.
Notable Companies Reporting Earnings Week of July 19th, 2026:
Major Trades Published 7/13 - 7/17. Trades may be those of family members. [Source: Capitol Trades]
Buys
Michael McCaul (R)
Company: Paychex ($PAYX)
Amount Purchased: $100K - $250K
Sells
Michael McCaul (R)
Company: Vishay Intertechnology ($VSH)
Amount Sold: $150K - $350K
Company: Chevron ($CVX)
Amount Sold: $100K - $250K
Major Trades Published 7/13 - 7/17
Buys
Elevance Health ($ELV)
Sells
Warner Bros. Discovery ($WBD)
Insider: David Zaslav (CEO)
# of Shares Sold: 2,184,782
$ Amount: $59,469,766
SEC Forms: [1]
Airbnb ($ABNB)
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