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❗️Brief on the Main Points❗️ 1️⃣ On Wednesday (as the Senate is expected to vote on the "Digital Asset Market Transparency" bill), Trump will host a summit at the White House with leaders of major cryptocurrency companies — Coinbase, Ripple, Gemini, Robinhood, Polymarket, Kalshi, etc. — as well as representatives from traditional financial companies (CME Group, Nasdaq, Intercontinental Exchange, and DTCC) and regulatory agencies (including heads of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)). The meeting will serve as a prelude to the first official meeting of the new Advisory Committee on Innovation at the Commodity Futures Trading Commission, which will take place the following day, Thursday. For those following the long and arduous battle of the crypto industry for regulatory clarity, this is a landmark moment: the President of the United States is sitting down at the negotiating table with the same leaders whose companies have spent years lobbying Washington for clearer rules. 2️⃣ Twelve companies from the S&P 500 will present reports, with a focus on major retailers: August 18 - Home Depot, Jack Henry & Associates, Keysight Tech, Klarna Group, Toll Brothers; August 19 - Analog Devices, Estee Lauder, Lowe's, Nordson, Target, TJX Cos, Viking Holdings; August 20 - Alibaba, Deere, NetEase, Ross Stores, Walmart. Meanwhile, the FT reports that the world's leading automakers are scrambling to avert a motor oil crisis: specifically, Volkswagen, Stellantis, and Toyota are switching to new motor oil and lubricant blends to mitigate the impact of a severe supply shortage due to the Middle East conflict. Having passed the initial months of the war, automakers have now depleted their reserves of high-quality base oils for motor oils, which the USA and Europe primarily sourced from the Middle East. Since then, they have found alternative lubricant producers, but industry leaders warn that these supplies remain limited and vulnerable to any new disturbances. For motorists worldwide, any further shortages will result in scheduled oil changes — a procedure critically important for preventing engine failures — becoming more costly and subject to delays. Prices for Group III base oils have nearly tripled from pre-war levels, reaching ~$4000 per ton in Europe and the USA. Holly Alfano, CEO of the Independent Lubricant Manufacturers Association, predicts: "Alternative suppliers also have limited volumes, and any new disruption in sea transport, refinery shutdown, or other supply shocks could quickly exacerbate the situation. The industry continues to operate with minimal reserve strength." Stellantis reported that it has assessed "new formula lubricants" and ensured the supply of alternative products meeting "applicable industry standards." Volkswagen warned that the shortage of base oils represents an "industry-wide issue beyond the immediate control of individual manufacturers." However, the German automaker has currently secured the necessary supplies and is exploring additional sourcing options that meet its "technical specifications and quality requirements." Toyota also stated that the problem affected it as well, but it has already secured alternative supplies. Since June, customers in Japan at some Suzuki Motor dealerships have faced delays in scheduled motor oil changes. CEO Toshihiro Suzuki told shareholders that the group is reviewing its entire supply chain and diversifying its base oil suppliers. Although many automakers have secured alternative supplies at the moment, some analysts warn that the situation can change at any time. Industry consolidation has led to a reduction in the number of suppliers, while alternative suppliers like South Korea have been unable to provide regular supplies. #ivankroshnyi #investments #stockmarket

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❗️High spot rates and strong demand❗️ A.P. Møller-Mærsk's second-quarter results were positively impacted by a significant increase in freight rates and higher volumes across all segments, driving revenue up 20% YoY to $15.8 billion from $13.1 billion last year. The main contribution came from the Ocean segment, where revenue increased by $2 billion. EBITDA rose to $3 billion, while EBIT reached $1.6 billion. The EBIT margin reached 10%, improving by 7.4 percentage points from 2.6% in the first quarter of 2026. Spot rates were the main driver of earnings growth, while higher costs related to the situation in the Middle East were offset by commercial measures. CEO of A.P. Møller-Mærsk A/S Vincent Clerc👇 "The second quarter was yet another confirmation of the new era of heightened volatility we have entered. Strong, broad-based demand from the Far East since 2024 has led to a significant deterioration in the balance of trade flows, with volumes creating challenges for landside infrastructure. From ports to inland transportation, we are seeing increasing congestion and disruption across various regions... As bottlenecks remain deeply entrenched, we must continue investing in critical trade infrastructure and scale"  On the container shipping market👇 🏗Global demand for container shipping in Q2 exceeded expectations, growing 3–4% YoY. Demand proved highly resilient despite the negative impact of the situation in the Middle East. Imports into the Middle East fell by 40%, but this was more than offset by higher imports in other regions. The strongest growth was recorded in Africa (13%), Latin America (7.0%), and North America (5.8%). Exports from the Far East, particularly China, once again became the main driver of trade growth. This momentum may continue into Q3 2026, as exports from China show no signs of slowing. However, the unresolved conflict in the Middle East still warrants caution. 🏗On the supply side, the nominal fleet at the end of Q2 2026 was 5.4% larger than in the same period of 2025. Growth was driven by deliveries of new vessels, while scrapping remained close to zero for the sixth consecutive quarter. Average spot freight rates, measured by the Shanghai Containerized Freight Index (SCFI), increased by 55% in Q2 2026 compared with Q1 2026 and were significantly above Q2 2025 levels (42%). On the logistics environment👇 🏆Among industries, the technology sector continues to be the main driver of air freight demand. Moreover, U.S. companies are reportedly willing to pay a premium to airfreight AI-related goods from Far East Asian countries to support the data center construction boom across the country. ⛳Warehouse vacancy rates in the U.S. have passed their cyclical peak and declined by 10 bps to 6.9%: demand is beginning to outpace the supply of new space. Updated 2026 guidance is based on overall global container market volume growth of ~4%👇 🎯 Revenue $53–54 billion 🎯 EBITDA $10.5–12.5 billion 🎯 EBIT $4.5–6.5 billion 🎯 CAPEX for 2026–2027 $10–11 billion In fact👇 For investors, the outlook for shipping is more important than the performance of individual companies, as the industry directly affects the global economy and impacts U.S. and European stocks. In addition, Rolf Habben Jansen, CEO of another major shipping company, Hapag-Lloyd, confirms that "the terminal business continues to grow and is gaining strategic importance, supported by high shipping volumes and investments in new assets." Capacity constraints may lead to delivery delays and higher prices. But this could also drive revenue growth for air cargo companies (FedEx, UPS, Amazon) and freight forwarders (Expeditors Int, Kuehne + Nagel, DHL Global, CH Robinson Worldwide). SonicShares Global Shipping ETF is up 44% YTD. Mærsk shares (traded in the U.S. via ADR on OTC markets under ticker #AMKBY) are up 27.57%. #ivankroshnyi

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What is currently the main argument in favor of Nebius for you?

Investor favorite in the neo-cloud technology sector, Nebius #NBIS: Demand for AI-related capacities is growing exponentially; the company is converting this demand into contract-based and profitable growth volumes. Revenue from Nebius AI cloud services in the 2nd quarter of 2026 amounted to $574.9 million, which is a 514% year-over-year increase (accounting for 98% of the group's total revenue, with Nebius AI's EBITDA margin at 50%). The second quarter was the most commercially successful in the company's history 👇 📍Average deal yield exceeds $20 million per MW 📍Four landmark deals in the AI-cloud solution business, with each having an average total contract value (TCV) of over $1 billion and a yield of $20–25 million per MW. 📍Total contract value (TCV) signed for the quarter grew nearly fourfold compared to the previous quarter, with TCV from new client deals growing over ninefold. 📍New pricing initiatives at the start of Q3 — the first-ever auction and short-term capacity agreements — show promising results. Nebius sees a pricing opportunity in the range of $40-50 million per MW and signed its first such contract this week. 📍Improving economic efficiency of deals: 70% include prepayment covering 50–60% of corresponding capital expenditures. 📍Expected payback period for the relevant capital expenditures and operational costs associated with second-quarter deals totaled 1 year and 10 months, lower than the previous payback period of 2-3 years. Key figures for Q2 2026 (y/y) 👇 🔹Revenue $582.3 million (+454%) 🔹Annual recurring revenue (ARR) $3 billion (+598%) 🔹Adjusted Group EBITDA $236.2 million (+$257.2 million) 🔹Adjusted net loss $(33) million (improved by 64%) 🔹Operating cash flow $2.3 billion 🔹Capital expenditures ~5.7 billion (primarily GPU purchases and related equipment) 🔹Cash and equivalents as of 30.06.26 $8 billion Contract structure targeting market growth. Three types 👇 📑 Short-term – ranging from 3 to 6 months – a new direction for clients with acute, time-limited needs; prices are significantly above market. One such contract was signed in Q3. 📑 Medium-term – core business – currently with an average term of 1 to 3 years, these are signed with the world's most ambitious AI companies. 📑 Long-term – with investment-grade clients that help Nebius finance infrastructure expansion more effectively. A secured credit line of $775 million, raised in July, was based on one such agreement — and with customer orders amounting to $40 billion, this activity will grow. Capacity expansion: over 1 GW per year expected to be commissioned in 2027 👇 ⚡️The company continues to secure power capacity faster than expected and has raised its target for contracted electricity supply to 5 GW by year-end. ⚡️Geographic presence has expanded with new sites and continues with the construction of proprietary plants in the USA. ⚡️Pace of bringing production capacities to market will accelerate: planning to commission over 1 GW per year → starting from 2027. ⚡️Innovations in construction approaches. A partnership model with minimal capital investment has been introduced to address the two main challenges in the industry: capital shortage and production capacity. Forecast for the entire 2026 year 👇 🎯Revenue from $3 billion to $3.4 billion 🎯ARR from $7 billion to $9 billion 🎯Adjusted EBITDA margin ~40% 🎯Capital expenditures from $20 billion to $25 billion 🎯Prepayment volume from clients will exceed $9 billion In fact 👇 One of Nebius's strongest quarters since IPO. Adjusted Group EBITDA was $236 million compared to a $(21) million loss y/y and $129.5 million in Q1. Adjusted EBITDA margin improved from 32% to 41% sequentially. By year-end, the company raises the target for contracted electricity volume to 5 GW and maintains revenue forecasts and ambitious capital expenditures. The market agrees with the chosen strategy: after the report, shares #NBIS +34%. #ivankroshnyi

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AST SpaceMobile (NASDAQ: #ASTS), which is creating the first and only space-based cellular broadband network accessible directly by standard smartphones and intended for both commercial and governmental use, has released its activity report and results for Q2 2026. Following the recent launch of BlueBird satellites 11, 12, and 13, the company's space-based cellular broadband network now comprises 13 satellites in orbit, each being the largest ever launched into low Earth orbit, with a total equipment aperture of around 20,000 square feet. AST SpaceMobile is preparing to launch satellites BlueBird 14, 15, and 16. BlueBird 17–46 are at various stages of production and assembly. Strategy 👇 📍 The largest phased array antennas ever deployed in low Earth orbit provide greater power and capacity. 📍 Block 2 series satellites are expected to deliver peak data speeds approaching 200 Mbps; recently, nearly 100 Mbps was demonstrated on BlueBird Block 1 series spacecraft. 📍 The combined use of spectrum from mobile network operators (MNO) and controlled MSS spectrum aims to access bandwidth of around 100 MHz in the U.S. and over 60 MHz worldwide, according to each market's specifications. 📍 Native cellular architecture benefits both mobile network operators and regulators: using existing, market-proven ground-based baseband equipment ensures traffic remains within the country. Partners 👇 🤝 Agreements with over 60 global mobile network operators, serving more than 3 billion subscribers. 🤝 Planned creation of a new joint venture by three leading U.S. mobile operators aims to ensure broadband cellular internet access via satellite for every American. 🤝 Integration and testing of the network are currently underway in European countries with Vodafone, Orange, Telefónica, Vodafone Ukraine, and Deutsche Telekom, plus in other key markets including Canada, Japan, and Saudi Arabia. Total Addressable Market (TAM) 👇 🌐 New use cases: non-communication related; secure communication for the U.S. government; additional funded networks; Internet of Things (IoT); federal emergency response services; AI-based edge computing. 🌐 Japan's Ministry of Internal Affairs and Communications (MIC) has preliminarily selected the Rakuten and AST SpaceMobile joint venture to participate in the J-LEO program worth up to ~$1 billion. Key figures for Q2 2026 👇 ✔ Revenue $31.5 million → growth in gateway device shipments and meeting contract milestones with the U.S. government. ✔ Operating expenses $119.1 million (+$27.9 million from last quarter, including +$12.3 million in engineering services expenses). ✔ EPS $(0.77) ✔ As of 06/30/2026, pro forma cash, equivalents, and restricted funds $3.7 billion. ✔ As of 06/30/2026, the company incurred gross capitalized costs for fixed assets (materials for BlueBird satellites, launch advance payments, Block 1, and BlueWalker 3 satellites, assembly and integration facilities, ground antennas, etc.) amounting to ~$2.3 billion, with accumulated depreciation of $211.9 million. Plans through the end of 2026 👇 🛰 On the path to achieving projected 2026 revenue in the range of $150 million to $200 million (supported by additional contracts from the U.S. government). 🛰 The order book has increased to ~$1.30 billion in aggregate contractual revenue with commercial partners and U.S. government contracts. 🛰 Several contracts from the U.S. government totaling over $125 million have been secured for various national security tasks. 🛰 Scaling the global gateway network: nearly 50 gateways are at various stages of construction, installation, and planning before launching into operation. In Reality 👇 Despite currently weak results, investors see potential in AST SpaceMobile's business: post-report, shares of #ASTS rose by 5%. #ivankroshnyi

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How do you assess Archer's prospects following the deal with Boeing?

❗️Archer Aviation. A Sharp Takeoff❗️ Archer #ACHR has gone from an unknown company in 2018 to the current leader in the air taxi industry in terms of certification progress with the Federal Aviation Administration (FAA). According to its CEO, over the past 18 months, the defense sector has become a massive short-term market for autonomous vertical takeoff and landing (VTOL) vehicles. Yesterday, Archer announced its Q2 results and a deal with Boeing, with which it has been building a relationship over the years. The structure of the deal shows how seriously Boeing is committed to a joint future: acquiring all shares with a lock-in period, planned collaboration in various areas (aerospace, defense, and autonomous technologies), and readiness for future investments in Archer's equity. The market potential for this business is enormous. Recent Achievements 👇 🚁 Archer acquires Boeing's subsidiaries - Wisk Aero, Insitu, and SkyGrid. Just Insitu alone, operating in 35 countries, will bring Archer over $200 million in annual revenue. Boeing plans to acquire a strategic stake in Archer. 🚁 In July, Archer and Anduril unveiled a jointly developed autonomous hybrid VTOL platform at the Farnborough International Airshow, named "Thunder" for defense tasks and "Halo" for commercial use. 🚁 Archer introduced ZEE, its proprietary AI model specifically designed for aviation, serving as a unified aviation analytics platform based on ADS-B data, ATC communications, maps, navigation charts, aircraft status, terrain, and weather conditions. The base model is designed to function both autonomously on a device and as a server solution. 🚁 In July, the Midnight Archer aircraft completed a manned round trip between Salinas Municipal Airport and Monterey Regional Airport; each leg took approximately 9 minutes, while the same route by car would take over 35 minutes. The flight was closely coordinated with the FAA and marked a significant milestone toward launching Archer's Midnight flights later this year as part of the White House's eIPP pilot program. Financial results for Q2 2026 (year-over-year) 👇 ◼ Revenue of $5 million (compared to none a year ago, $1.6 million a quarter ago) → increased by $3.4 million sequentially due to activity expansion at Hawthorne Airport in Los Angeles ◼ Operating expenses +$28 million → costs associated with expanding flight tests, certification work, and production activities for the Midnight aircraft, and development of the hybrid aircraft and ZEE model ◼ Net loss of $(263) million (vs $(206) million) ◼ Negative adjusted EBITDA of $(177.1) million (vs $(118.7) million) → aligned with the lower end of the forecast range of $170–200 million Liquidity and cash flows 👇 💵 At the end of the reporting quarter, $1.56 billion in cash, equivalents, and short-term investments, plus an additional $7.3 million in restricted cash 💵 Cash decreased by $215.3 million compared to Q1 2026, primarily due to $156.4 million used in operating activities, $37.1 million on the acquisition of capital assets, and $25 million on acquiring a ground handling operator business at Hawthorne Airport Forecast for Q3 2026 is simple 👇 📌 Negative adjusted EBITDA ranging from $170 million to $200 million (similar to Q2) In fact 👇 Yesterday's sharp 12% increase in #ACHR stock price is explained by the acquisition of Boeing's subsidiaries: Wisk Aero focuses on autonomous air taxi development; Insitu on drone production; SkyGrid on air traffic management software. According to SEC filings, Boeing will receive ~20% of Archer shares (deal expected to close by the end of 2026). Archer and its direct competitors in the eVTOL market, like Joby Aviation and Beta Technologies, are on the brink of commercialization. #ivankroshnyi #рыноксша

❗️Brief on the Main Points❗️ Catalysts: Consumer inflation in the USA (preliminarily - growth by 3.4% y/y, which is one-tenth percentage point less than in June; the core index, excluding the volatile prices of food and energy, is expected to show a rise of 2.5% - the last time this marker was at or below the Fed's inflation target of 2% was in March 2021); Production (wholesale) inflation in the USA (preliminarily - growth by 4.9% y/y; the core index is expected to grow by 4.1%); The majority of the earnings season is already complete (~90% of S&P500 companies), but this week ten more companies in the index will publish their results. Reports: 🗓August 10 - Aaon, Apogee Therapeutics, AST SpaceMobile, Barrick Mining, Embraer, Ferguson Enterprises, Rocket Lab, Simon Property Group 🗓August 11 - Aramark, CAVA Group, CoreWeave, Elbit Systems, Franco-Nevada Corp, Hims & Hers Health, Lumentum, On Holding, Quantinuum, Sea Ltd, StubHub, Super Micro Computer, Venture Global 🗓August 12 - Amcor, Brinker Int, CAE, Cerebras Systems, Cisco, Coherent, EnerSys, Korea Electric Power, Navan, Nebius, Pan American Silver, Performance Food 🗓August 13 - Applied Industrial, Applied Materials, Ascendis Pharma, Brookfield Corp, Dillard's, JD.com, Nu Holdings, QXO, Tapestry, X-Energy, Yeti Meanwhile, on an important note. FT reports: the intensifying El Niño phenomenon threatens to disrupt the production of some of the most demanded agricultural commodities on the global market, causing sharp price fluctuations and increasing the risk of food shortages and widespread inflation. This climate phenomenon, inducing heavy rains and droughts, has already affected coffee and cocoa prices: investors expect crop damage from Brazil to West Africa and Southeast Asia. Arabica coffee prices have risen approximately 30% since early June to $3.12 per pound. This increase included the most significant one-day spike in the past 47 years. Cocoa prices have shifted just as dramatically. New York futures have risen by more than 63% from around $3950 per ton in mid-June to an eight-month high of $6455 on July 9, before falling to $5600 last Thursday, which is still over 40% higher than the June low. Rabobank analysts point to the increasing correlation between coffee and cocoa prices, despite their "vastly different fundamentals": investors are applying the "El Niño risk premium" to all soft commodities. The first effects of El Niño on physical deliveries are already noticeable in Peru, where anchovy fishing has been suspended since May due to unusually warm Pacific waters: fishmeal prices have more than doubled y/y, and fish oil prices have more than tripled since July 2025. Cocoa is particularly vulnerable: according to Rabobank, 88% of production is concentrated in West Africa, Ecuador, and Southeast Asia—the most vulnerable regions. Previous periods were accompanied by significant crop losses. Global cocoa production fell by 12% in 1982–1983, by 9% in 1991–1992, and by 6% in 2015–2016. In the 2023–2024 period, production fell by 13%, and the average seasonal cocoa price rose by 122%. The cocoa market has not yet fully recovered from a series of poor harvests, meaning even a relatively small production decrease could trigger a significant price surge. Low soil moisture and poor pod development already threaten the next main harvest in Côte d’Ivoire, while heavy rains have exacerbated the spread of "black pod" disease in Ghana. Coffee markets are also pricing in the possibility of a prolonged weather shock. According to Rabobank, unusually high prices for robusta futures contracts confirm the risks that this phenomenon could extend to 2027. Vietnam, Indonesia, and India account for much of the robusta coffee production, and during El Niño, these countries usually experience warmer and drier weather. Prolonged drought could lead to the depletion of reservoirs used for irrigating Vietnamese coffee trees, adversely affecting flowering and, consequently, the 2027–2028 harvest. #ivankroshnyi