Briggs Barton - Specialist Sales - US Consumer AC briggs.barton@jpmorgan.com J.P. Morgan Securities LLC North America Specialist Sales J P M O R G A N 23 July 2026 TSCO & ACI [Misses/Cuts], LVS Missing Low Bar, WH = Good Enough, KDP = Momo Building, Nestle Blowback, Oil Flirting w/ $100, Some Charts Briggs Barton +1 212 622 2677 briggs.barton@jpmorgan.com MORNING UPDATE Morning all, Crude flirting with $100 [+37% in July] and yields up will be unhelpful for the space as the Middle East situation remains a s ...

July 23, 2026 03:33 AM GMT Wyndham Hotels & Resorts Inc | North America M Update 2Q26 1st Take: Mixed composition but beat/raise likely good enough given undemanding valuation AlphaSignals Earnings Reaction Unchanged Modest upside Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research WH reported headline 2Q EBITDA above consensus, but in-line with our estimate. RevPAR accelerated and room growth stayed ...

July 23, 2026 02:54 AM GMT Las Vegas Sands Corp | North America M Update 2Q26 First Take: More than just World Cup woes AlphaSignals Earnings Reaction Unchanged Meaningful shortfall Modest revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways What Happened: LVS reported 2Q results AMC 7/22 with weaker top-line results vs. MSe and cons driven by softness in both Singapore and Macau. Consolida ...