Daily Briefing · 2026-10-28

Not every chip name suffered, though. SK Hynix reported blowout earnings growth alongside sharply higher shareholder returns on rising profitability. Celestica posted record third-quarter earnings, pointing to its 3.2T network switches as the next growth catalyst. Vertiv Holdings grew third-quarter revenue 19% year-over-year to 1.66 billion dollars on strong AI infrastructure demand, with its adjusted EBITDA margin expanding to 17.1%. Dassault Systèmes posted a 5% revenue increase to 1,455 million euros, with software subscriptions up 8%, though operating margin declined on higher R&D investment. A new report flagged a hidden risk emerging beneath the broader AI investment boom at IREN. Turning to healthcare, the sector posted its strongest performance in a generation through October, though analysts cautioned against chasing the momentum. GE HealthCare grew third-quarter revenue to 4.63 billion dollars, up 8% organically, with operating margin improving to 16.2%. Universal Health Services posted third-quarter revenue up 6.2% to 3.74 billion dollars, with adjusted EBITDA rising 7.8% to 689 million dollars. In banking, Banco Santander reported third-quarter net income of 2.5 billion euros with return on tangible equity at 15.2%, reflecting strong cost management and improved asset quality. Seacoast Banking saw net revenue decline to 102.0 million dollars on lower net interest and mortgage banking income, with net income falling 12% from the prior quarter. In energy, Baker Hughes grew third-quarter revenue 12% year-over-year to 6.8 billion dollars, with operating income up 18% to 1.2 billion dollars. Endesa reported stable operational performance across its utility and renewable segments, maintaining dividends despite European energy market volatility. Separately, record-high heating oil prices could add roughly 750 dollars to winter home heating costs, with proposed government measures offering only limited relief. In industrials, TE Connectivity grew fourth-quarter revenue 12% year-over-year with improved operating margins on connectivity and sensor demand. IDEX Corporation grew third-quarter revenue 7% year-over-year with expanded operating margins across its fluid and metering technology segments. Hillman Solutions saw earnings growth fall short of long-term targets, raising downside risk concerns for its stock valuation. In mining, Caledonia Mining faced a ratings downgrade after operational setbacks at its Blanket mine weakened production prospects and near-term cash generation. In real estate, BrightSpire Capital's third-quarter earnings were hit by portfolio valuation declines amid challenging commercial real estate conditions. A separate review examined Alexandria REIT alongside bonds yielding 7.6%. Rémy Cointreau posted mixed performance across its spirits portfolio in its second quarter, weighing on shareholder returns amid challenging market conditions. Software stocks face elevated performance expectations following recent outperformance, raising the stakes as earnings season intensifies. Finally, analysts expect the Bank of Canada to hike rates again following today's policy move.