FirstLook

Research evidence excerpt

FirstLook

July 20, 2026

First Look

Edgewise Therapeutics, Inc. (EWTX) Evercore ISI Focus

Model Update Page 9

Semiconductors and Semiconductor Equipment

Cory Kasimov Outperform

Semis Mid-Cycle Correction Playbook Page 4

Mark Lipacis Assa Abloy AB (ASSA.B-SE)

Turning the volume up? Page 9

Spotify Technology S.A (SPOT)

Alexander Virgo In Line

Winner Of The Music World Cup! Page 4

Mark Mahaney Outperform Industry Updates

Global BeveragesU.S. Bancorp (USB)

Beer industry model: Updating our estimates by brewer -Party Like It's 1999...Upgrade to Outperform Page 5

STZ and ABI positioned to take share; NA beer impact on

John Pancari Outperform category growth Page 10

Robert Ottenstein

REITs

Rolling Into Q2 Earnings - Who's On Tap This Week?Page 5 Global Retailing, Softlines & Luxury Brands

Steve Sakwa The Rundown: Evercore Softlines Weekly Recap Page 10

Michael Binetti

Company Survey Report

Company Surveys Improve Across Consumer & Industrial Beverages, Household & Personal Care

Surveys Page 6 Week in Review: KO 2Q preview; BF-B F1Q downside;

Oscar Sloterbeck Beverages blurring; PG share stabilizing; CL elmex and

Meridol; EL PRGP Page 11

Central Banks Robert Ottenstein

ECB JULY PREVIEW – LEANING HAWKISH AGAIN ON

US-IRAN (AND AI COSTS) BUT ONE MORE HIKE NOT Healthcare Technology & Distribution

TWO Page 6 Dental: The Swelling Is Going Down: Dykema DSO

Krishna Guha Takeaways Page 12

Elizabeth Anderson

Equity Strategy

Brave New World: Top of the Market's Mind Page 7 Biotechnology / SMID Cap

Julian Emanuel Doc Rounds - ATTR-CM KOL Feedback Following

CARDIO-TTRansform Page 12

Cory Kasimov Price Target Changes

The Travelers Corporation, Inc (TRV) Biotechnology / SMID Cap

2Q26 Call Takes - Striving for Margin Durability in a SMID Biotech Week in Review (Podcast) Page 13