Clear market notes built around the JSE, the rand, and what matters locally.

2026-07-31 23:16 • The Motley Fool Positive Axe Cap view: Selective

Forum Energy Technologies (FET) surged nearly 22% after posting strong Q2 earnings with $226 million in revenue (8% YoY growth) and adjusted net income of $13.7 million, beating analyst expectations. The company raised full-year 2026 guidance to $870-910 million in revenue and $42-52 million in adjusted net income, benefiting from strong activity in the oil and gas industry.

Axe note: Forum Energy Technologies' strong Q2 and raised guidance signal renewed strength in oil services amid higher global energy demand.

2026-07-31 22:37 • The Motley Fool Positive Axe Cap view: Selective

Caterpillar has emerged as a key AI stock by supplying power generators and construction equipment for data centers. The company delivered 22% YoY revenue growth in Q1, with its power and energy segment driving results. With a record $62.7 billion order backlog and projections for 15-30% annual data center electricity growth through 2030-2035, Caterpillar is positioned for sustained double-digit revenue growth while returning capital to shareholders.

Axe note: Caterpillar’s booming power solutions business positions it well amid rising AI data center demand, with clear implications for the rand and local sectors.

2026-07-31 22:15 • The Motley Fool Positive Axe Cap view: Selective

Chevron has reached an accord with Iraq to invest in the country's oil fields and join a consortium to build a pipeline bypassing the Strait of Hormuz. This strategic move could enhance energy security, make Middle East investments more attractive, and reshape Chevron's business and the broader energy sector over the next decade, though the agreement is non-binding and implementation will take considerable time.

Axe note: Chevron's pact with Iraq on new oil development and a strategic pipeline has long-term implications for energy markets and the rand.