RATE CUTS COMING ZM EARNINGS STUNNING

BJ’s Wholesale Club (BJ) -8%

• Q2 EPS: $1.14 🆚 est. ~$1.12 = Beat

• Revenue: $5.38B 🆚 est. ~$5.49B = Miss

• Highlights: 8M membership record, +9% membership fees, comps ex-fuel +2.3%

• Stock move: -7% reaction; still up ~19% YTD

  
  

Intuit (INTU) -7%

• Q4 EPS: $2.75 🆚 est. ~$2.65 = Beat

• Revenue: $3.83B (+20% YoY) = Beat

• FY26 guidance: EPS $22.98–23.18 (slightly below est.)

• Stock move: -5% after hours

  
  

Ross Stores (ROST) +3%

• Q2 EPS: $1.56 🆚 est. ~$1.53 = Beat

• Revenue: $5.53B = in line/miss depending on source

• Same-store comps: +2–2.3% despite tariffs, big back-to-school strength

• Stock move: +2–3% premarket

  
  

Zoom (ZM) +10%

• Q2 EPS: $1.53 🆚 est. ~$1.37 = Beat

• Revenue: ~$1.22B 🆚 est. ~$1.20B = Beat

• Free Cash Flow: +39% YoY

• Guidance: Raised full-year outlook; EPS $5.81–5.84, rev $4.83B

• Stock move: +5–8% after-hours

  
  

Market Buzz: Powell Hints at Rate Cuts, Markets Rally

• What happened: Federal Reserve Chair Jerome Powell hinted at a possible rate cut in September during his Jackson Hole speech—but didn’t commit. (thank the weakening labor market!)

• Market reaction:

  • Dow: +670–716 pts (+1.5–1.6%)

  • S&P 500: +1.2–1.4%

  • Nasdaq: +1.2–1.6%

  • Treasury yields: Dropped

Investing Vibe Check:

• Zoom = leader, hitting AI growth zone

• Intuit = powerful narrative but pulling in leash on expectations

• Ross = bargain hunters stay loyal; comps are stabilizing

• BJ’s = FCF strong, but top-line healing slower

• Fed mood swing = hopeful; a watch-alert for next inflation/job data