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

2026-08-03 23:05 • The Motley Fool Positive Axe Cap view: Selective

Texas Roadhouse stock has surged 27.6% over the past 90 days ahead of its August 6 earnings report, outperforming other consumer discretionary stocks amid inflation concerns. The company maintains a 60-quarter comparable sales growth streak and has demonstrated strong margin expansion despite rising beef prices, suggesting potential for further gains if management signals continued reinvestment and beef price relief.

Axe note: Texas Roadhouse’s strong earnings surge contrasts local consumer pressure, offering lessons for SA discretionary sector investors.

2026-08-03 22:20 • The Motley Fool Positive Axe Cap view: Selective

Sally Beauty Holdings reported progress in its turnaround strategy with net sales up 0.2% to $935 million in Q3, comparable sales growth of 1.6%, and strong e-commerce performance with online sales up 11%. The company improved profit margins, generated $62 million in free cash flow, and increased adjusted EPS by 8% to $0.55. Management projects full-year sales of $3.7 billion and EPS of $2.04-$2.08, with plans to expand into new categories like fragrances and men's products.

Axe note: Strong Q3 results and e-commerce growth fuel optimism in Sally Beauty’s recovery.

2026-08-03 22:06 • The Motley Fool Negative Axe Cap view: Selective

The Magnificent Seven tech giants face a critical dilemma in 2026: companies aggressively investing in AI infrastructure report negative free cash flow, while those maintaining normal capex levels trade at unsustainable valuations. Most underperformed the S&P 500 year-to-date, with only Apple outperforming, leaving investors to choose between betting on AI-driven growth or accepting inflated valuations.

Axe note: Tech giants face a tough 2026 choice—bet heavily on AI with negative cash flow or stay expensive and underdeliver.