SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide. It offers SAP Business AI; SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR, time, payroll, talent and employee experience management, and analytics and planning; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand business process operations; industry solutions that provide customers and partners with industry-specific solutions; and SAP LeanIX to visualize enterprise architecture, assess interdependencies and the potential impact of IT modernization, and manage the transition toward the target landscape. Further, the company provides WalkMe to execute workflows; SAP Enable Now, which offers e-learning content embedded in SAP workflows; Taulia solutions for working capital management; and sustainability solutions and services. Additionally, it provides services and support solutions. The company has a strategic collaboration with Fresenius SE & Co. KGaA and Avelios Medical GmbH for the development of a cloud-native, hospital information system that enables digitalization of clinical and administrative processes with AI integration. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.
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Midday movers: Abercrombie surges, Intuit slides on weak guidance
Abercrombie & Fitch soared 37% after trouncing fiscal second-quarter estimates and raising its full-year outlook, with adjusted earnings of $2.42 per share and revenue up 5% to $1.27 billion, helped by tariff refunds and stronger growth at its Abercrombie unit. Intuit fell 4% after offering disappointing fiscal year 2027 guidance of $23.3 billion to $23.5 billion in revenue, below the $23.7 billion analyst estimate, though its fiscal fourth-quarter earnings and revenue beat expectations. Meta Platforms jumped 3% after reaching a settlement with state attorneys general in a case alleging it made its apps addictive to teenagers. Zoom Communications dropped 7% after its third-quarter forecast of $1.46 to $1.48 earnings per share missed the $1.50 estimate. Kohl's rose 2% after raising its full-year outlook, partly due to $150 million in tariff refunds, and announced share buybacks of up to $100 million in 2026. J.M. Smucker climbed 3% on fiscal first-quarter revenue of $2.22 billion, topping the $2.13 billion consensus. SolarEdge Technologies jumped nearly 8% after a UBS upgrade to buy, citing an FCC policy expected to boost market share and pricing power. Semtech rose over 8% on second-quarter earnings beat, with adjusted EPS of 71 cents versus 61 cents expected. Boston Scientific fell 5% after reporting a cybersecurity incident causing product disruptions. SAP declined 3% after a UBS downgrade to neutral, citing slow delivery of agentic AI.
Intuit, Zoom, Kohl's Lead Premarket Declines; SolarEdge, Semtech Rise
Intuit shares plunged 11% in premarket trading after the financial technology platform issued fiscal 2027 revenue guidance of $23.279 billion to $23.512 billion, below the $23.7 billion analysts expected, though its fiscal fourth-quarter earnings and revenue beat estimates. The disappointing outlook dragged other software stocks lower, with the iShares Expanded Tech-Software ETF down over 1%, ServiceNow off more than 2.5%, and Workday and Salesforce each down 2%. Zoom Communications fell 7% after its third-quarter earnings per share guidance of $1.46 to $1.48 came in short of the $1.50 FactSet consensus. Kohl's declined 5% after reporting a 0.9% drop in second-quarter comparable sales, worse than the 0.6% decline expected, but the retailer raised its full-year outlook, partly due to $150 million in tariff refunds, and restarted share buybacks of up to $100 million in 2026. On the upside, J.M. Smucker climbed 5.6% after fiscal first-quarter revenue of $2.22 billion topped the LSEG consensus of $2.13 billion, SolarEdge jumped nearly 7% following a UBS upgrade to buy on a new FCC policy, and Semtech rose more than 5% after beating earnings estimates with adjusted EPS of 71 cents versus 61 cents expected. Box gained over 2% on revenue beat, while Boston Scientific fell more than 3% after disclosing a cybersecurity incident causing product disruptions, and SAP dropped almost 4% after a UBS downgrade to neutral on slow agentic AI delivery.
Stock futures were mixed Wednesday as investors awaited key U.S. inflation data and Nvidia's quarterly results. Among the biggest movers, Semtech gained 3.2% after reporting second-quarter earnings and revenue that beat estimates, with adjusted EPS of $0.71 and revenue up 32.7% to $341.9 million. HEICO rose 2.5% after fiscal third-quarter revenue hit a record $1.41 billion, beating consensus by about 4.7%. On the downside, Spyre Therapeutics fell about 12% after its phase 2 data for SPY072 in rheumatoid arthritis showed mixed results, with the low dose meeting the primary endpoint but the high dose missing. Intuit dropped 11.7% after issuing fiscal 2027 guidance well below consensus, with non-GAAP EPS expected between $22.68 and $23.12 versus the $27.30 estimate. SAP declined 4.8% after UBS downgraded the stock to neutral, citing slow progress in delivering AI products to customers.
Insi Achieves SAP PartnerEdge Sell Status in US and Canada
Insi has achieved SAP PartnerEdge Sell status in both the United States and Canada, authorizing the company to sell SAP Cloud ERP solutions directly across North America. The accreditation extends Insi's role from implementation partner to full commercial partner and is part of a five-year, $5 million USD investment through 2030 to unify its U.S. and Canadian operations. Insi is focusing on oil, gas and energy, agribusiness, and mill products and mining, with priority territories in the U.S. South and Canada. The move comes as SAP's mainstream maintenance for legacy ERP ends December 31, 2027, driving what Insi expects to be the largest ERP renewal cycle North America has seen.
Aoris Investment Management Highlights SAP SE's AI Monetization Through Joule and Data Cloud
Aoris Investment Management highlighted SAP SE's AI monetization strategy in its Q2 2026 investor letter. The firm noted that SAP's systems should increase in value because AI requires accurate data, business context, and established workflows, and SAP can layer on additional services that could add 20% or more to customer spending. Examples include its Business Data Cloud, which combines SAP and non-SAP data for real-time analysis, and its Joule AI agent, which automates work using customers' existing data structures and processes. SAP SE closed at $218.68 per share on August 21, 2026, with a market capitalization of $256.39 billion.
SAP Business Data Cloud Gains Traction as AI Strategy Pillar
SAP SE's SAP Business Data Cloud is emerging as a key pillar of the company's AI strategy, with AI and the data platform featuring in more than 90% of SAP's 50 largest deals in the second quarter. SAP's current cloud backlog increased 26%, while cloud revenues grew 24% to €6.3 billion in the quarter. The company is strengthening the platform through Dremio's Apache Iceberg-native technology, Reltio's data governance, and Prior Labs' tabular AI capabilities, with management planning to monetize agentic AI through value-priced agents. SAP's new RISE with SAP and GROW with SAP offering saw strong uptake, with customers achieving up to 30% lower ERP migration costs. Shares of SAP have gained 11.7% in the past six months, underperforming the Zacks Computer and Technology sector's 18.7% appreciation, and the stock trades at a trailing 12-month price-to-earnings ratio of 28.53X versus the Zacks Computer - Software industry average of 26.83X.
SAP Issues Critical Security Patches and Earns Supply Chain Leadership Recognition
SAP issued critical security patches for its Commerce Cloud and Manufacturing Integration and Intelligence solutions, addressing severe vulnerabilities for enterprise users. The company was also named a Leader in the inaugural Gartner Magic Quadrant for Supply Chain Management Suites and recognized as a Leader in the IDC MarketScape for AI-Enabled Order Orchestration and Fulfillment Applications. These developments highlight how quickly AI-driven and cloud-heavy supply chains are evolving, with SAP's €208.3 billion market position placing it at the center of enterprise applications and business solutions. The rapid response to maximum severity issues signals the risk that security gaps pose to SAP's push for deeper customer integration and higher recurring revenue from cloud and AI offerings, while the leadership positions support the narrative that SAP is becoming more embedded in digital and autonomous supply chains.
European Markets Rise on Earnings and Economic Data
European stock markets closed higher on Friday as mostly encouraging earnings updates and decent economic data helped offset concerns about Middle East tensions. The pan European Stoxx 600 climbed 0.31%, Germany's DAX moved up 0.69%, France's CAC 40 gained 0.17%, and the UK's FTSE 100 ended 0.31% up. Weak U.S. jobs data showing a drop of 23,000 jobs in July against expectations of a 70,000 gain raised hopes the Federal Reserve will not hike interest rates soon. In corporate news, SAP, Scout24, Infineon, Siemens and BMW gained 2% to 4% in Germany, while Daimler Truck Holding shed nearly 3% despite reporting a bottom line of EUR1.457 billion, up from EUR277 million a year earlier. Allianz closed lower by about 1.6% after second-quarter earnings fell to EUR2.595 billion from EUR2.841 billion, and Munich RE dropped 1.4% even as net profit rose to €2.211 billion from €2.085 billion.
Khimji Ramdas Group cuts SAP support costs by 80% with Rimini Street
Omani conglomerate Khimji Ramdas Group has selected Rimini Support for SAP, reducing its total SAP support costs by 80% and reinvesting the savings in AI-driven innovation. The company, one of Oman's largest privately held conglomerates with over 150 years of history, relies on SAP ECC 6 to support finance, supply chain, sales, and other critical operations across its diversified portfolio. Facing pressure to migrate to SAP S/4HANA, Khimji Ramdas sought a cost-effective path that would preserve its more than 700 custom codes and allow leadership to determine its IT roadmap on business priorities rather than vendor timelines. Since moving to Rimini Street, the company has experienced zero SAP downtime over four years and has been able to fund new initiatives including a Salesforce CRM program, expanded e-commerce capabilities, and development of an in-house large language model. Rimini Street also helped the group address a complex HR and payroll compliance challenge tied to Omani labor regulations, strengthening its compliance framework and helping avoid potential fines.
Europe's established tech firms emerge as unexpected AI winners
Europe's largest established technology companies are emerging as unexpected beneficiaries of the AI boom, according to recent earnings. SAP, Capgemini, Sopra Steria, and OVHcloud have all reported stronger demand, faster growth, or upgraded outlooks as large organizations move from experimenting with artificial intelligence to deploying it across their operations. SAP's cloud backlog rose 26% at constant currencies to €22.9 billion, while Capgemini raised its annual growth target after bookings climbed 9.2% and Sopra Steria upgraded its outlook following organic growth acceleration to 5.3%. OVHcloud's public-cloud revenue rose 20.2% in its third quarter, providing early evidence that demand for European-controlled AI infrastructure is translating into commercial growth. The trend reflects the growing complexity of making AI work with existing software, data, and business processes, as well as rising demand for greater control over AI deployment in sectors such as defense, aerospace, and critical infrastructure.
SAP Launches AI Agent Hub to Tackle Governance and Agent Sprawl
SAP has launched an AI Agent Hub designed to manage and control autonomous AI agents inside large enterprises, addressing governance, security, and oversight challenges linked to rising AI agent sprawl. The hub allows customers already using SAP software for core workflows to centrally manage autonomous agents across areas such as procurement, finance, and supply chain, aligning with board-level and regulatory attention on AI accountability. The move positions SAP against competing platforms from Microsoft, Oracle, and Salesforce, reinforcing its role as the system of record for business-critical AI agents. Investors should watch for integration into large cloud or RISE with SAP deals, partnerships with third-party agents, and adoption in regulated industries as signals of the hub's strategic importance.
Teradata Appoints Bernd Leukert to Board of Directors
Teradata Corporation has appointed Bernd Leukert to its Board of Directors, effective August 1, 2026. Mr. Leukert will serve as a Class II director with a term expiring at the 2027 Annual Meeting of Stockholders and will join the Board's Nominating and Governance Committee. As part of the Board's ongoing refreshment plan, the Board will expand from nine to ten directors, and Class II directors will expand from three to four. Mr. Leukert brings more than 30 years of experience in technology and financial services, having most recently led global technology, data, and innovation initiatives at Deutsche Bank AG and previously served on the Executive Board of SAP.
Vulcan Value Partners Added to SAP Position During Second Quarter
Vulcan Value Partners increased its stake in SAP SE during the second quarter of 2026, citing strong first-quarter results and a significantly discounted share price. The investment firm highlighted that SAP's total revenue rose 12 percent and EBIT climbed 16 percent, while cloud revenue grew 27 percent and the cloud backlog expanded 25 percent. SAP also repurchased 2.6 billion euros of stock in the quarter and maintained its full-year guidance. Vulcan Value Partners views the company's deeply undervalued shares as an excellent opportunity for patient investors.
SAP Ties Cloud ERP to AI and Data in Autonomous Enterprise Push
SAP is embedding AI across its cloud ERP suite to drive customers from legacy systems into an autonomous enterprise model. The company’s Business Data Cloud generated approximately €2 billion in total contract value within its first year, and more than 90% of SAP’s 50 largest second-quarter deals included AI and that data platform. SAP reaffirmed its expectation for approximately €10 billion in 2026 free cash flow and announced a €10 billion share repurchase program running through the end of 2027, with more than 16.28 million shares already repurchased for approximately €2.6 billion as of June 30. However, second-quarter software license revenues declined 32% year over year to €0.13 billion and services revenues fell 3% to €1 billion, while acquisitions Dremio and Prior Labs are expected to reduce 2026 operating profit by more than €100 million. The stock currently carries a Zacks Rank #4 (Sell), with a Momentum Score of F and a Value Score of D, suggesting investors should separate long-term platform potential from weaker near-term valuation and estimate-revision signals.
SAP Stock Faces Investor Debate After 2026 Profit Outlook Cut and Sharp Selloff
SAP SE faces a harder investor debate after a steep share-price reset and a reduced profit outlook for 2026. The stock has fallen 29.6% year to date and 40.5% over the trailing 12 months, pulling its forward earnings multiple to 18.68 times. The company lowered its 2026 non-IFRS operating profit guidance from a range of €11.9 billion to €12.3 billion to a new range of €11.8 billion to €12.2 billion, while integration costs from Dremio and Prior Labs are expected to reduce annual profit by more than €100 million. SAP's current cloud backlog of €22.9 billion, up 27% year over year, provides visibility into future cloud revenues, but the profit cut and modest implied upside to a $184 price target from a $171.01 share price argue for selectivity. The stock carries a Zacks Rank of 4, equivalent to Sell, with a Value Score of D, Growth Score of C, Momentum Score of F, and VGM Score of D.
AUTOBACS SEVEN Marks 10 Years of System Stability and Self-Funded Innovation with Rimini Street
AUTOBACS SEVEN has marked a decade-long partnership with Rimini Street, using the support provider to stabilize its core SAP ECC and Oracle Database systems while freeing resources for innovation. The Japanese automotive aftermarket retailer, which operates roughly 1,300 domestic and 150 overseas stores, first switched to Rimini Support for SAP ECC 6 in 2016 and later expanded the engagement to include Oracle Database. The move delivered immediate 50% savings on annual support fees and up to 90% lower total cost of ownership, along with a 15-year guarantee on its SAP ECC 6 and Oracle Database environments. AUTOBACS SEVEN now plans to leverage Rimini Smart Path to fuel a planned doubling of its business, using the savings to attract AI specialists and fund new digital capabilities without disruptive system overhauls.
DCLA’s Sarat Sethi says Alphabet has many levers to toggle on AI spending
DCLA managing partner Sarat Sethi expressed concern about massive AI capital expenditure plans at tech companies outside of Alphabet, while calling Alphabet a core portfolio holding because its diversified businesses give it many levers to toggle. He pointed to YouTube, Cloud, and Gemini as reasons Alphabet can adjust spending if returns on investment do not materialize. Sethi noted a divergence between hardware and software spending, with customers holding back on hardware while continuing to invest in software and security, citing IBM and SAP commentary. He said Microsoft faces particular scrutiny and must show return on investment faster than others, as the stock is already down double digits this year. Beyond tech, Sethi highlighted a rotation into high-quality, cash-flow-generating healthcare companies such as Stryker, Thermo Fisher, and Johnson & Johnson, noting the healthcare sector has shrunk to its smallest S&P 500 weighting ever.
ASML slides on China chip tool report, Forte Bio surges on Argenx buyout
ASML dropped 8% after The Information reported China began mass production of domestically made deep ultraviolet chipmaking tools. Memory chip stocks were mixed as CXMT soared more than 466% in its Shanghai debut, while SK Hynix fell over 8%, SanDisk slid 11%, and Micron Technology lost 5%. SAP jumped more than 7% after announcing the second part of a 10 billion-euro stock buyback. Forte Biosciences rallied about 40% on a $2.2 billion cash acquisition by Argenx at $77 per share, a 40% premium to Friday's close. Brown-Forman climbed almost 4% after rejecting a $15 billion unsolicited takeover offer from Sazerac at $32 per share. Baker Hughes gained 6% on better-than-expected second-quarter earnings and revenue, while Amkor Technology fell 7% ahead of its quarterly report. D-Wave Quantum added 5% on a partnership with AT&T to use annealing quantum computers for AI, and MapLight Therapeutics plunged 68% after a Phase 2 schizophrenia trial missed its primary endpoint.
Dow edges higher while Nvidia drop weighs on Nasdaq
The Dow Jones Industrial Average edged higher at midday on July 27, while the Nasdaq Composite slipped as a decline in Nvidia shares offset optimism from cooling geopolitical tensions. The Dow was up 0.13% to 52,017.19, the S&P 500 fell 0.33% to 7,387.76, and the Nasdaq dropped 0.44% to 24,840.43. RTX Corp climbed 2.61% to $218.28 on strong second-quarter earnings, and SAP surged 7.4% to $171.79, extending last week's gains after beating earnings expectations. Reddit rose 6.7% to $171.79 on optimism ahead of its upcoming earnings report. Oil prices fell sharply, with WTI crude down almost 7% to $83.15 a barrel, following news of a pause in strikes between the U.S. and Iran, which helped lift the Dow slightly. Investors are bracing for further volatility and will be watching the Federal Reserve meeting this week, where rates are widely expected to remain unchanged, though inflationary pressures could prompt a rate increase before year-end. Renewed artificial intelligence valuation concerns also weighed on markets ahead of earnings from Microsoft, Meta Platforms, Apple, and Amazon, with investors focused on capital expenditure plans.
European stocks close higher, boosted by strong SAP results driving DAX surge
European stock markets closed higher on Friday, recovering from the sharp drop in the previous session, supported by strong corporate earnings. The STOXX 600 index closed at 644.51 points, up 0.82%, while Germany's DAX index surged 1.36% after SAP shares jumped 10% on higher-than-expected growth in cloud order backlog for the second quarter. European technology stocks rose 1.7%, rebounding from earlier declines, despite disappointing results from STMicroelectronics and BE Semiconductor. Deutsche Bank analysts warned that capital spending by tech giants is no longer supported solely by free cash flow, and low-cost open-source AI is seriously threatening business models. Meanwhile, three European Central Bank policymakers signaled that another rate hike may be necessary due to persistent inflation risks, with markets pricing in around a 70% chance of a 0.25% increase by the end of 2026. Valmet shares surged 22% after results beat expectations and the company announced plans to spin off a business, while Securitas shares fell 11% after profit missed forecasts, and Neste dropped 6.4% on a slight earnings miss.
European Stocks Rebound, Weekly Gains on SAP Surge and Financials Strength
European stock markets closed higher on the 24th. The STOXX Europe 600 Index rose 0.82% to 644.51, extending its weekly gain to 0.46%. German software giant SAP soared 9.3% after its latest quarterly cloud business backlog growth exceeded market expectations, lifting the technology sector index by 1.49%. In London, financial heavyweight HSBC gained 1.7% after agreeing to sell its Singapore life insurance business to Germany's Allianz. The mid-cap FTSE 250 Index closed 0.74% higher, while the FTSE 100 Index ended up 0.91%. Meanwhile, oil and gas stocks were weak as crude prices fell, with the STOXX Europe 600 Oil & Gas Index down 0.76%. Finland's Neste dropped 6.4% after its core profit missed estimates. In eurozone bond markets, the German 10-year bond yield fell 2.7 basis points to 3.1845%, as crude oil prices dropped below 100 dollars per barrel.
Tech Stocks Slide as Semiconductor Index Drops 6% Despite Strong Earnings
Technology stocks are under pressure as the MSCI World Semiconductor Index fell 6% in July, with investors rotating away from chipmakers despite strong earnings. EPFR Global analysts noted the long-short ratio on Nasdaq 100 futures dropped 63% over the past year to a 17-year low on July 14, signaling a shift out of technology stocks. STMicroelectronics tumbled 18% after its outlook missed forecasts, while Texas Instruments declined 3% even with an upbeat outlook. Software stocks fared better, with Dassault Systemes rising on in-line results and SAP advancing after cloud revenue matched expectations. JPMorgan strategists recommended buying a call spread on the Magnificent Seven basket, citing heavily reduced positioning that could support the group if earnings hold up.
SAP lifts Q2 earnings on cloud demand but trims profit outlook after acquisitions
SAP reported second-quarter 2026 non-IFRS earnings per share of €1.59, up 6% year over year, while total non-IFRS revenue rose 9% to €9.9 billion, driven by a 22% jump in cloud revenue to €6.3 billion. The company lowered its full-year non-IFRS operating profit guidance to €11.8–€12.2 billion from €11.9–€12.3 billion, citing a dilutive impact exceeding €100 million from the acquisitions of Dremio and Prior Labs. Cloud backlog grew 27% to €22.9 billion, and SAP reaffirmed its 2026 targets for cloud revenue, cloud and software revenue, and free cash flow of approximately €10 billion. Non-IFRS cloud gross margin slipped 0.6 percentage points to 74.6%, while operating cash flow rose 22% to €3.2 billion. The company also noted that its outlook assumes a near-term de-escalation of geopolitical tensions in the Middle East.
Intel, Oracle, and Amkor lead premarket movers on earnings and deal news
Several stocks made notable premarket moves following earnings reports and major agreements. Intel rallied 4% after posting its sharpest quarterly revenue growth in nearly 15 years, with Q2 revenue of $16.1 billion and adjusted earnings of 42 cents per share beating analyst expectations. Oracle rose nearly 3% after signing a 10-year, nearly $7 billion software agreement with the Pentagon for on-premises military use. Amkor Technology surged more than 11% on a multiyear $1.5 billion deal with Nvidia to develop advanced semiconductor packaging and testing for artificial intelligence. On the downside, American Express dipped 3% after missing revenue estimates with $19.64 billion versus the $19.71 billion consensus, while Deckers Outdoor slid 3% as Hoka and Ugg brand revenues fell short of Street expectations. Other movers included Tenet Healthcare jumping over 16% on a strong earnings beat, SAP gaining 5% on 27% cloud backlog growth to 22.9 billion euros, and MaxLinear tumbling more than 9% despite better-than-expected results, having been up over 400% in 2026 heading into the report.
European Shares Edge Higher as Brent Falls Below $100
European stocks rebounded on Friday after their steepest single-day loss in over two weeks, with the pan-European STOXX 600 rising half a percent to 642.32. The recovery came as Brent crude futures slumped nearly 4 percent below $97 a barrel, having topped $100 on Thursday following Houthi attacks on tankers in the Red Sea. The British pound strengthened after official data showed UK retail sales unexpectedly grew 1.0 percent in June, beating forecasts of a 0.3 percent decline. Among individual movers, SAP jumped 6 percent on higher quarterly revenue, while Securitas plummeted 11 percent after reporting lower-than-expected second-quarter core profit.
Safety Insurance, Amkor, SAP, and Intel lead Friday's biggest stock movers
Stock futures edged higher Friday as investors weighed Middle East tensions against a busy week of tech earnings. Safety Insurance shares surged 42% after Mapfre agreed to acquire the insurer in an all-cash deal valued at approximately $1.54 billion, offering $105 per share, a 44% premium. Amkor Technology jumped 9% on a multi-year partnership with Nvidia to develop advanced semiconductor packaging for AI platforms, with Nvidia prepaying to expand Amkor's Arizona capacity. SAP gained 6% after beating second-quarter earnings estimates, reporting 24% cloud revenue growth, and raising its full-year and 2026 outlooks. Intel climbed 3% as second-quarter revenue rose 25% to $16.1 billion, topping expectations, and the chipmaker issued third-quarter guidance above consensus. On the losing side, MaxLinear fell 10% despite beating estimates and issuing a strong outlook, while Deckers Outdoor slipped 3% even after surpassing earnings and posting its first billion-dollar revenue quarter.
SAP CFO says AI must move beyond chatbot low-hanging fruit before seeing returns
SAP's finance chief said on Thursday that artificial intelligence in enterprise software must move beyond chatbots and coding tools into more complex business processes, where clean data, reliability and cost control matter more than access to the most powerful model. CFO Dominik Asam told reporters after SAP's second-quarter results that the lion's share of AI token consumption today was spent in low-hanging fruits like coding assistants and chatbots, where AI's hallucinations matter less because the output carries limited risk if it fails. But applying AI to finance, supply chain or other core business processes is harder because errors carry over multiple steps, increasing risk against compliance standards. Asam said the high-hanging fruit of AI is less about applying a generic plug-and-play large language model across a company than about building systems around specific businesses, which requires companies to make their own data usable and governed. He added that the most advanced model is not always the right one, and in practice companies will use the cheapest reliable tool that can deliver the required outcome safely.
Intel rallies 9% after sharpest quarterly revenue growth in nearly 15 years
Intel rallied 9% in extended trading after reporting its sharpest quarterly revenue growth in nearly 15 years, with second-quarter revenue hitting $16.1 billion, 25% above the year-earlier period, and adjusted earnings per share of 42 cents beating analyst expectations. Deckers Outdoor slid 3% as first-quarter revenue of $1.02 billion met consensus but Hoka and Ugg brand sales fell short of Street forecasts. Robert Half fell around 9% after second-quarter earnings of 26 cents per share matched estimates while revenue of $1.34 billion just topped the $1.32 billion consensus. Boston Beer added 2% after second-quarter revenue of $568.3 million narrowly beat the FactSet consensus of $566.7 million and the company reaffirmed full-year earnings guidance of $8.50 to $10.50 per share. SAP rose 3% as its cloud backlog grew 27% year over year to 22.9 billion euros and revenue of 9.88 billion euros edged past an LSEG forecast of 9.86 billion euros. Advanced Micro Devices jumped more than 2% after projecting at its Advancing AI presentation that its server CPU market will grow over 50% to $200 billion by 2030 and its AI accelerator market will hit $1.4 trillion by 2030.
Ironvine Capital Partners Highlights SAP SE in Q2 2026 Investor Letter
Ironvine Capital Partners highlighted SAP SE in its Q2 2026 investor letter, noting the company's entrenched position as a leading ERP provider for large, supply chain-intensive enterprises. SAP counts 98 of the Fortune 100 as customers and derives approximately 70% of revenue from large enterprises, operating largely in a duopoly with Oracle. The firm described how SAP systems become deeply embedded in customer operations through extensive customization, citing Boeing's reliance on SAP to coordinate aircraft assembly with auditable component tracking. SAP SE shares closed at $148.75 on July 22, 2026, with a one-month return of negative 2.51% and a 52-week decline of 49.41%, giving it a market capitalization of $175.9 billion. The Ironvine Concentrated fund returned 11.02% net year-to-date, outperforming the S&P 500 Index's 10.21% return.
Mastercard Expands Virtual Card Platform with New Security Controls and Single API Access
Mastercard has announced enhancements to its Mastercard In Control virtual card platform, adding new issuer-enforced controls, enhanced clearing controls, and expanded embedded payments capabilities. Citi is the first issuer to launch these new capabilities globally, with both issuer-enforced and clearing controls already live. The platform now supports transactions across 43 countries and 174 currencies, and Mastercard data shows fraud rates on virtual cards are less than one-fifth of those on non-virtual cards. The Commercial Connect API, described by Kaiser Associates as the market's only single-API front door, has been upgraded to allow multiple control sets at the real card level and to enable virtual card creation and payment initiation in one step. Since launching its embedded VCN program in March 2025, Mastercard has signed dozens of partners across expense management, ERP, and accounts payable systems, including SAP, and has expanded use cases in travel with partners like Juniper Travel, HBX Group, and TravelSoft.
Natuvion DCS enables single-step migration from SAP DBM to Proaxia VSS on S/4HANA
Natuvion has announced that its Data Conversion Suite now allows automotive companies to migrate directly from SAP Dealer Business Management to Proaxia's Vehicle Sales & Service add-on in a single, consolidated process as part of an ECC-to-S/4HANA transition. The AI-powered platform automates analysis, migration, and data quality assurance, transforming all DBM-specific data objects such as vehicles, service orders, warranty information, and dealer hierarchies into VSS structures within one migration cycle. This eliminates the previous two-project approach, reducing costs, timelines, and downtime risk. The company cited successful engagements with BMW Group and Volkswagen Group, where Natuvion DCS served as the central migration platform for large-scale S/4HANA transformations.
Enterprise Carbon Management Software Market to Reach USD 42.2 Billion by 2034
The global enterprise carbon management software market is projected to grow from USD 16.7 billion in 2024 to USD 42.2 billion by 2034, at a compound annual growth rate of 9.73%, according to a new report by Custom Market Insights. The market is expected to reach USD 18.3 billion in 2025. Growth is driven by rising corporate net-zero commitments, expanding ESG reporting requirements, and the need for accurate Scope 1, 2, and 3 emissions tracking across complex supply chains. Key players include SAP SE, IBM Environmental Intelligence Suite, Microsoft Sustainability Manager, and Salesforce Net Zero Cloud.
SAP to Report Q2 Earnings With Cloud and AI in Focus
SAP SE is scheduled to report second-quarter 2026 results on July 23 after market close. The Zacks Consensus Estimate for earnings is $2 per share, up 17.6% from a year ago, while revenue is seen at $11.4 billion, an 11.4% increase. The company's cloud-first strategy, including rapid adoption of Rise with SAP and Grow with SAP, drove a 25% rise in cloud backlog and 27% cloud revenue growth in the first quarter, with Cloud ERP Suite revenue accelerating 30%. SAP is also advancing its AI monetization, targeting €2 billion in efficiencies by 2028, and recently agreed to acquire Prior Labs and Dremio to bolster AI and data capabilities. However, the Zacks model does not predict an earnings beat this time, as SAP carries an Earnings ESP of -1.25% and a Zacks Rank of 4.
Industrial System Integrator and IIoT Market Forecast to Hit $2.20 Trillion by 2032
The global industrial system integrator and Industrial Internet of Things technology market is projected to reach USD 2.20 trillion by 2032, growing from an estimated USD 617.93 billion in 2026 at a compound annual growth rate of 23.47 percent. The expansion is fueled by rising demand for connected industrial operations, predictive maintenance, real-time asset visibility, energy efficiency, and resilient supply chains. A structural shift is underway from isolated automation projects to connected, software-defined ecosystems, with edge computing and industrial cybersecurity emerging as critical investment priorities. Artificial intelligence is extending IIoT programs into predictive and autonomous operations, with high-value applications including predictive maintenance, computer vision inspection, and energy management. Asia-Pacific is a major growth center, while Europe emphasizes interoperability and sustainability, and North America advances cloud-connected manufacturing and critical infrastructure security.
Europe Inc heads into strongest earnings season in years but AI gap persists
European companies are heading for their strongest earnings season in more than three years, but investors remain concerned that the region lacks enough AI-powered growth engines to keep pace with the United States. Second-quarter profits of European blue-chip companies are expected to grow by 15.3% on average, the most since the last quarter of 2022, according to LSEG I/B/E/S data, though much of that reflects an expected surge in energy company earnings driven by higher crude prices due to the Iran war. Excluding energy, non-energy companies in Europe's STOXX 600 index are forecast to report an average 6% increase in earnings, while their S&P 500 counterparts are expected to deliver 19.6% growth. Jitania Kandhari, deputy chief investment officer of the solutions and multi-asset group at Morgan Stanley Investment Management, said the gap is likely to narrow over time but that the US will continue to have very strong, powerful AI earnings. Others are more sceptical, with Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan Private Bank, saying Europe needs a catalyst similar to last year's German fiscal stimulus to really start performing.
Managed File Transfer Market to Reach $7.18 Billion by 2035
The global managed file transfer market is projected to grow from $2.45 billion in 2025 to $7.18 billion by 2035, at a compound annual growth rate of 11.35%, according to a report by SNS Insider. The solution segment held a 68% revenue share in 2025, while the services segment is expected to register the fastest CAGR through 2035. On-premise deployment accounted for 55% of revenue in 2025, but cloud-based deployment is forecast to grow at the highest rate. Large enterprises dominated with a 63% share in 2025, while small and medium enterprises are set for the fastest growth. North America led the market with about 36-37% of revenue in 2025, and the Asia Pacific region is the fastest-growing market, expected to exceed 12% CAGR through 2035.
Oakmark Global Select Fund Says SAP Has an Irreplaceable Position in Client Tech Ecosystems
Oakmark Global Select Fund highlighted SAP SE as an irreplaceable piece of its clients' technology ecosystems in its second-quarter 2026 investor letter. The fund noted that SAP, a global leader in enterprise resource planning, provides solutions forming the backbone of client infrastructure, resulting in recurring revenue and very low churn. It expects accelerated client migrations from on-premise to cloud systems to improve growth and reduce costs, though the market has been concerned that artificial intelligence will obscure the need for enterprise software. The fund believes this narrative underestimates SAP's scale, data ownership, and definition of client workflows, and expressed confidence in management's ability to steer through the AI era. SAP shares closed at $154.81 on July 14, 2026, with a market capitalization of $182.51 billion, and the fund repurchased the stock at what it views as a considerable discount to intrinsic value.
Infrastructure Asset Management Market to Reach $50.11 Billion by 2031
The global infrastructure asset management market is projected to grow from USD 28.12 billion in 2025 to USD 30.72 billion in 2026, and reach USD 50.11 billion by 2031, at a compound annual growth rate of 10.28% from 2026 to 2031. Software held a 57.91% share of the market in 2025, while services are expected to grow at an 11.62% CAGR over the forecast period. North America led with 37.56% of the market in 2025, and Asia-Pacific is the fastest-growing region. Key drivers include aging infrastructure renewal, predictive maintenance adoption, and smart infrastructure spending, though high implementation costs remain a restraint.
Zacks highlights SAP, UBS, Cadence, Village Super Market, and Medalist Diversified in latest analyst blog
Zacks Equity Research featured new research reports on 16 major stocks, including SAP, UBS Group, Cadence Design Systems, and micro-cap stocks Village Super Market and Medalist Diversified. SAP reaffirmed its full-year 2026 guidance with cloud revenue growth of 23 to 25 percent at constant currencies to 25.8 to 26.2 billion euros, driven by AI and public cloud momentum. UBS remains on track to complete its Credit Suisse integration by 2026, targeting nearly 13.5 billion dollars in gross cost savings, though elevated digital infrastructure costs and litigation risks persist. Cadence expects 2026 revenues between 6.125 and 6.225 billion dollars, up from 5.3 billion in 2025, supported by AI-driven automation and new product launches, while the Hexagon D&E acquisition is expected to be dilutive to the 2026 bottom line. Village Super Market, with a market capitalization of 637.55 million dollars, is supported by a robust investment cycle and healthy same-store sales, though margin pressure from higher costs remains a risk. Medalist Diversified, with a market capitalization of 18.25 million dollars, is transitioning from a traditional REIT to an asset-light DST sponsor, with fee income expected to replace property ownership as its primary earnings driver.
Generative AI in HR Market to Reach $1.7 Billion by 2030
The generative AI in human resources market is projected to grow from $0.88 billion in 2026 to $1.7 billion by 2030, at a compound annual growth rate of 17.8%. The market expanded from $0.75 billion in 2025 to $0.88 billion in 2026 at a CAGR of 18.1%, driven by AI adoption in recruiting, employee retention, and HR process automation. Key trends include AI-driven talent acquisition, automated resume screening, predictive retention models, and chatbot engagement. North America led the market in 2025, while Asia-Pacific is expected to be the fastest-growing region. Major companies include International Business Machines Corp., Oracle Corporation, and SAP SE.