US EARNINGS REVIEW: Financial numbers largely solid, while ASML dispatches a stellar report

Financial earnings continue and comes following strong reports on Tuesday from WFC, JPM, BAC, GS, and C, despite mixed performance post-numbers, shown by the moves seen at the close: WFC (-2.7%), JPM (+2.5%), BAC (+1.9%), GS (+9%), C (-5.3%). For C, KBW Bank noted the sharp intraday reversal in the stock reflects a pull forward of expenses to H2 '26, but importantly has no impact on Citi's near-term ROTCE potential.
BlackRock (BLK) (+5%) continued the strong Financial results, with EPS, revenue, and AUM surpassing expectations, as did PNC (PNC) (+2.5%) who topped on all major metrics. Morgan Stanley (MS) (+2.9%) also impressed, with strong headline numbers, NII and revenue breakdown. Bank of New York Mellon (BNY) (-1%) have trickled lower despite a solid report, in fitting with some of the aforementioned moves seen yesterday.
In the Healthcare sector, Elevance Health (ELV) (-8.5%) shares plunge as its benefit expense ratio was 89.7%, +80bps Y/Y, driven by expected elevated medical cost trend in its Government businesses. Note, ELV beat on top and bottom line with better-than-expected FY profit view. Johnson & Johnson (JNJ) (-1.5%) also weaker in the space post-numbers, despite impressing, highlighted by strong quarterly numbers and lifting FY outlook. However, some desks are suggesting the beats were only modest and did not match lofty expectations.
In Tech, ASML (ASML) (+3.5%) is supporting the broader sector, and helping the NQ outperform, in wake of stellar results, as they topped on all major metrics and lifted FY outlook as well as next quarter being better than expected.
Consumer Staples name Conagra Brands (CAG) (-3.3%) numbers were more-or-less in line, but Co. forecasted annual profit below estimates.
UAL earnings are afterhours ahead of tomorrow's highlights, including TSM, UNH, GE, USB, ABT, and NFLX.
For NFLX, Morgan Stanley reduced PT to USD 90 (prev. 115) ahead of numbers and maintained 'Overweight' rating; looks for a largely inline Q2 print and Q3 guide, along with a reiteration of the FY26 guidance; thinks engagement concerns are largely overblown and sees the potential for the live events/sports slate in H2 to show some improvement. Other desks note that Netflix is under pressure to reassure investors about its growth strategy, as its user engagement has faltered amid growing competition from traditional media players, YouTube and mobile viewing.