GRUPO FINANCIERO GALICIA SA (GGAL): Financial results for Q2 2026

Grupo Financiero Galicia (GGAL) reported a 12% rise in Q2 2026 net income. Management expects 29% inflation, 2.6% GDP growth, and aims for 10% ROE in 2026, 15% in 2027, with long-term ROE targets of 15-20%. They anticipate 10% deposit growth, 16% net interest margin, and 6.3% NPL ratio by year-end. Dollar loans will drive growth, with peso loans seeing minimal real growth.

S&P upgraded Argentina’s sovereign credit rating from CCC+ to B- on Thursday, citing reduced economic vulnerability and improved external liquidity and debt-servicing capacity, including reserve accumulation and fiscal balance. Argentina’s country-risk index fell to 444 bps (below 450). Dollar bonds rose up to 3.3% and the S&P Merval gained 5.68% (7.3% in hard currency); ADRs climbed as much as 11.5%.

Telecom Argentina (NYSE:TEO) reported Q3 capital expenditures of $350M, with net debt decreasing 9% YoY to $2.9B. 5G sites expanded to 1,900. Postpaid mobile lines grew 1% YoY, broadband increased 2.5%, and pay TV grew nearly 5%. EBITDA margin excluding TMA exceeded 42%. The company agreed to a $400M divestment with Metrotel, aiming for future integration.

CoreWeave reported record Q3 revenue of $3.66B, up 168% YoY, and raised its full-year outlook. However, it also reported a net loss of $709M, $846M in interest expense, and plans $39B in 2026 capex. Its debt grew to $46.8B by Q3 2026. CoreWeave's growth relies on significant financing, raising concerns about the neocloud business model's sustainability and potential consolidation.

Credo Technology Group reported fiscal 2026 revenue of $1.3B, up 206% YoY, with non-GAAP EPS rising 392% to $3.46. The company's growth is driven by AI networking products, including active electrical cables. Credo's stock gained 74% YTD. Broadcom's AI chip revenue grew 221% YoY to $16.7B in one quarter. Credo expects over 80% revenue growth in fiscal 2027, with optical revenue exceeding $600M.

Wizz Air's H1 profit fell 67% to €108.1M on 14% revenue growth, while Ryanair's profit dropped 15% to €2.15B on 3% revenue growth. Wizz faced higher fuel costs and grounded aircraft, while Ryanair benefited from better fuel hedging and fleet management. Both airlines cited fuel costs as a major factor.