Columbus Circle Capital Corp II 2Q 2026: Net income $366K, EPS $0.01— 10-Q Summary

Elroy Air will become a publicly traded company through a business combination with SPAC Columbus Circle Capital Corp II (Nasdaq: CMII), led by Inflection Point Asset Management. The deal values Elroy Air at about $800M pre-money and ~$1.0B enterprise value, with $165M+ committed PIPE capital. Closing is expected in Q4 2026. Elroy’s Chaparral VTOL drone targets 500+ lbs cargo; demand pipeline exceeds 1,400 aircraft and $5B potential revenue.

Banco Bradesco (NYSE:BBD) reported Q3 2026 earnings with revenue growth of 8.4% YoY to R$38.0B, driven by net interest income and fee income. Earnings per share of $0.1309 missed estimates, while revenue beat forecasts. Loan portfolio grew 11.1% YoY, but asset quality deteriorated with NPL ratio rising to 4.6%. Operating expenses declined 1.0% YoY, improving cost-to-income ratio to 47.2%. The bank completed a R$10B capital increase, strengthening regulatory ratios.

General Motors (GM) stock fell 8% post-earnings despite beating EPS and revenue estimates. Analysts cut price targets citing cost pressures, with consensus EPS estimates declining. GM trades at a forward P/E of 5.4x, near fair value, with a $20B buyback program underway. Revenue growth has plateaued, and North America accounts for most operating profit.

Customers Bancorp reported Q3 net interest income of $208M, up 8% from Q2, with a net interest margin of 3.19%. Loan growth was strong, particularly in September, and the company tightened its 2026 net interest income outlook to $805M-$810M. Management highlighted AI-driven efficiencies, deposit growth, and cubiX platform expansion. Non-interest expense was $113.4M, down from Q2, and credit quality remained stable.

American Express (AXP) reported Q3 earnings, noting an 8% rise in billed business and 17% growth in net card fees. The company added 3.1M new cards, with 76% on fee-paying products. Legal reserves increased by $0.51 per share, offset by tax benefits. Delinquency rates remained stable, and the company returned $2.2B to shareholders. AXP also highlighted new partnerships and AI-driven initiatives.

Kinsale Capital Group (KNSL) reported Q3 earnings, noting mid-single-digit growth in submissions and quotes. Management highlighted a shift toward smaller accounts and growth in specific business lines. The company repurchased $100M in shares and reinvested $230M in higher-yielding bonds, boosting net investment income by 17.5%. Kinsale emphasized underwriting discipline and technology-driven efficiency. According to the company, catastrophe activity impact was immaterial.