Simone Rizzetto @SimoneRizzetto88: "📊 PORTFOLIO UPDATE: Fed Showdown,..."

Italy

📊 PORTFOLIO UPDATE: Fed Showdown, Oil Chaos, and Earnings Week 🚀 Portfolio is still slightly up for the month. YTD +12.66%, MTD +0.33%. Very little volatility compared to $NSDQ100 US-Iran hostilities sent oil to $100/barrel before an abrupt ceasefire sent it down by 8%. 📌 Macro: Oil Whipsaw and Fed Uncertainty Brent crude spiked to $100/barrel earlier last week as Middle East tensions threatened the Strait of Hormuz. Then Washington abruptly suspended strikes on July 26 and Tehran agreed to pause, sending oil tumbling 8% back to $89. Bond yields still elevated with the 10-year Treasury hitting 4.71%, highest since January 2025. 📌 Pharma: AstraZeneca Crushes, Dr Reddy Misses, Roche In Line ➤ $AZN.L (AstraZeneca): H1 2026 results on July 27 were positive. Revenue $30.7B (+6% CER), core EPS $5.21 (+12%). Sone-Ve Phase III showed statistically significant OS improvement in gastric cancer, first CLDN18.2 ADC to deliver OS benefit. Interim dividend raised to $1.06/share. Jefferies maintains Buy at 17,500p. The only setback was Ultomiris missing its primary endpoint in post-HSCT TMA, though the pediatric program continues. ➤ $RDY (Dr. Reddys Laboratories Limited): Complete opposite. Q1 FY27 earnings on July 22 were a disaster. Net profit down 69% YoY to ₹4.44B. Semaglutide sales target slashed by 50% due to impurity issues halting production. Wall Street Zen downgraded to Sell. Stock fell ~7% to $11.63, a 12-month low. Tariff headwinds from Trump generic drug policy add long-term pressure. We only have a very small position mostly to edge our exposure to branded drugs. ➤ $ROP.ZU (Roche Holding Ltd) : H1 results July 23. First-half sales fell in Swiss franc terms, dragged down by a strong domestic currency. Lower revenues weighed on reported profit. Vabysmo missed the mark. Despite the miss, Roche confirmed its full-year 2026 outlook. The currency drag was the main issue here, not underlying demand. Investors understood that and share price increased since the report. 📌 Biotech: Capital Raises and FDA Drama ➤ $IMUX (Immunic Inc): Announced a massive $400M private placement on July 24 to fund Phase 3 MS trials for vidofludimus calcium. Stock surged 33% pre-market. Short interest declined to 10.98% of float from 64.7% in April. Analyst consensus Buy at $47.57 average target. ➤ $HIMS (Hims & Hers Health Inc): Wild ride this week. FDA PCAC panel voted 8-6 on July 23 to recommend BPC-157 and other peptides for compounding. Stock jumped 13%. Then July 24 the panel voted against Emideltide, triggering a 10% reversal. 📌 Tech: Alphabet Earnings and AI Spending Fears ➤ $GOOGL (Alphabet Inc Class A): Reported Q2 on July 22 and delivered a nearly flawless quarter. Revenue $119.8B, EPS beat expectations with net income up 111% YoY. Search remained strong, YouTube gained momentum, and Google Cloud clearly stole the show. But the stock sold off sharply as massive AI infrastructure capex scared investors. Free cash flow turned negative at $5.9B and capex guidance rose to $195-205B. Stock rebounded Monday after the selloff. The tension between blowout earnings and unsustainable capex fears is playing out in real time. $MSFT (Microsoft) and $META (Meta Platforms Inc) will be under a lot of pressure. ➤ $9988.HK (Alibaba Group Holding Ltd (Hong Kong)): Launched Qwen3.8 AI model on July 19, a 2.4 trillion parameters claimed second only to anthropic Fable but the cost of running it is a lot cheaper. Stock rallied ~12% over two days. ➤ Closed $AMD (Advanced Micro Devices Inc) at +259.74% profit. Booked the gains after a massive bull run that brought AMD from ~100$/share to nearly $600. I gradually closed $AMD over the past weeks as I started to be skeptical of current valuation. ⏳ Ahead Earnings week is going to be very dense: Microsoft, GSK, Meta, many large positions in our portfolio. $SPX500 $NSDQ100

Not investment advice. The author may have financial interests in the mentioned instruments.