July 8, 2026

Levi Strauss reported fiscal second-quarter 2026 results on July 8, posting revenue of $1.56 billion, above the $1.52 billion analysts had expected, and adjusted earnings per share of $0.28, beating the $0.25 consensus. Sales rose about 8% from $1.45 billion a year earlier.

The company also raised full-year guidance, lifting its adjusted EPS outlook to $1.46-$1.52 from a prior $1.42-$1.48, and raising its full-year sales growth forecast to 7%-7.5% from 5.5%-6.5%, both ahead of Street expectations. Despite the beat on revenue, earnings and guidance, Levi shares fell more than 5% in after-hours trading, as investors focused on other details in the report rather than the headline numbers.

The community leaned toward "yes" at 61%, expecting Levi to report revenue shy of expectations, but the company beat on both the top and bottom lines, and the question resolved no. The stock's negative reaction despite the beat reflects a familiar earnings-season dynamic in which guidance nuances and margin or channel commentary can outweigh a straightforward revenue and EPS beat in shaping investor response.

The Federal Reserve's G.19 consumer credit report, released Wednesday, July 8, 2026, showed total consumer credit contracted by roughly $0.18 billion in May, well below the consensus forecast of about $17.1 billion in growth. Bloomberg described it as the largest unexpected drop in consumer borrowing since 2024. The reading followed an upwardly revised $20.82 billion gain in April.

The shortfall was concentrated in revolving credit, which includes credit card balances; that category contracted at an annualized rate of roughly 4.7%, signaling households pulling back on short-term borrowing. Nonrevolving credit, covering auto and student loans, kept growing modestly, up about 1.6% annualized. Coverage tied the pullback to softening consumer sentiment and tighter household budgets amid persistent price pressures earlier in the year.

The community leaned strongly toward "yes" at 68%, expecting consumer credit to beat the forecast, but the report undershot expectations by a wide margin, and the question resolved no. The data added to a run of soft economic readings in early July and fed into market bets on a Federal Reserve rate cut later in the year.

The Television Academy announced 2026 Emmy nominations on July 8. HBO Max led all networks and streamers with 122 nominations, powered by "Hacks" and "The Pitt." Netflix placed second with 111 nominations, driven by "Beef" and "The Beast in Me," trailing HBO Max by 11. Apple TV was third with 87 nods. Among broadcast networks, ABC topped the field with 40 nominations, ahead of CBS (32) and NBC (29).

Netflix did not lead the nomination count at all this cycle, let alone by a double-digit margin over the next-closest competitor. HBO Max's total reflected a slate of acclaimed dramas and limited series that dominated those categories, while Netflix's nominations were spread across a wide range of genres but fell short of the top spot.

The community leaned toward "yes" at 55%, expecting Netflix to lead by double digits, but the result went the opposite direction: HBO Max finished on top, and its 11-nomination edge over Netflix was itself just short of a double-digit margin. The question resolved no, with the community on the wrong side of the outcome.