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$META ripped +9% last week on cloud news; $PEP & $DAL earnings up next
Meta Platforms ($META) was last week's biggest winner, surging ~9% after Bloomberg reported the company is building an AI cloud business to sell excess compute to enterprises โ a direct challenge to AWS, Azure, and Google Cloud. The collateral damage: neocloud names CoreWeave ($CRWV) and Nebius Group ($NBIS) each tanked ~12% as investors priced in new competition. This week Q2 earnings season kicks off โ PepsiCo ($PEP) reports Thursday (analysts expect +4.2% EPS) and Delta Air Lines ($DAL) Friday, all against a shaky macro backdrop after June payrolls missed hard (57K jobs vs ~110K expected). Not financial advice. Which earnings report are you watching most closely this week?