Amid the Anthropic IPO excitement, don't forget about earnings season

We are only two days into the week, and it already feels like it should be the weekend.

In the past two days, Meta ( META ) said it will raise $95 billion to support its AI build-out through stock offerings, and Anthropic ( ANTH.PVT ) dropped a 407-page IPO prospectus that I know you haven't read in its entirety. (Wall Street hasn't either, so don't lose sleep over it.)

Lost in that activity is that earnings season continues in full swing, with results from Coca-Cola ( KO ), Hilton ( HLT ), UPS ( UPS ), Whirlpool ( WHR ), and others today.

While investors are jacked up about AI and some stability returning to the tech trade, don't lose sight of earnings season: After all, it's earnings and earnings expectations that power stocks, not Anthropic CEO Dario Amodei (although his comments have moved markets in the past).

So here are a few quick takes on a couple of earnings reports I chewed through this morning:

I don't have any problems with this Hilton quarter, even though the stock is getting hit on a slight revenue miss. The important revenue per available room metric grew 5.8%, the company remains an aggressive buyer of its stock, and it approved the development of 30,500 rooms in the quarter.

The report fits nicely with the Delta ( DAL ) report we got last week, in that higher fuel prices don't appear to be slowing leisure or business travelers.

I think it also fits nicely with the numbers out of UPS today, with US sales up 4.5% and its full-year guidance hike.

Coca-Cola's latest guidance lift reinforces the view that the company continues to take massive market share away from rival PepsiCo ( PEP ). Coke Zero sales surged 16%.

Not a good day for the team at PepsiCo up in Purchase, N.Y.

A weak housing market is hurting appliance sales

I continue to be absolutely shocked by what's happening at Whirlpool ( WHR ). Another supersoft quarter, with an adjusted loss of $0.21 per share. Costs are up, and the business is being hurt by a near-frozen US housing market.

You need nerves of steel to buy Whirlpool shares here — the stock is down more than 63% this year. If you do, the thesis has to be that the iconic company is acquired at some point in the next 12 months.

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