Morning Brew Daily Best Earnings Season Ever? & CLEAR Tests Biometric Scanning at Airports
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Aug 20, 2025 Explore the surprising earnings boom as S&P 500 companies defy tariff fears and post record profits. Dive into the SPAC revival with a bold investor seeking to raise $250M. Discover how biometrics are reshaping airport experiences for quicker security checks. Plus, learn about AI advancements in sleep technology and the launch of retail stores by Eight Sleep. Finally, see how targeted advertising on platforms like LinkedIn is making waves in marketing strategies.
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Earnings Beat Frequency Is Inflated
- Second-quarter earnings have produced unusually frequent beats and raised guidance across many firms.
- Companies benefited from a lower expectations bar set earlier in the year, which amplified beat frequency.
Beats Versus Baseline: Lower Bar Matters
- The strong earnings narrative is real but skewed because many companies cut estimates earlier, lowering the bar.
- Full-year outlooks still lag pre-tariff levels, tempering long-term enthusiasm.
AI Narrative Faces Early Skepticism
- AI excitement is one of two market narratives, and recent research and comments have rattled that thesis.
- MIT findings and OpenAI warnings cooled some AI-driven enthusiasm in markets.