Track market-moving stories before they get noisy

Canadian bank strategists expect USD/CAD rallies to attract sellers, with support near 1.3720 ahead of a possible retreat towards 1.3500-1.3550. The US Dollar to Canadian Dollar (USD/CAD) exchange rate edged higher on Wednesday after two consecutive daily declines, as traders assessed fresh US restrictions on Canadian goods.

At the time of writing, USD/CAD was up 0.12% at 1.3795, recovering some of Tuesday’s 0.20% fall.

Latest — Exchange Rates:

Dollar to Canadian Dollar (USD/CAD): 1.37947 (+0.12%)

Pound to Canadian Dollar (GBP/CAD): 1.870651 (+0.26%)

Euro to Canadian Dollar (EUR/CAD): 1.606438 (+0.28%)

Foreign exchange strategists at Scotiabank expects the broader decline to resume, with improving Canadian Dollar fundamentals supporting its bearish view of the pair.

“USD support is 1.3715/35 ahead of the decline back to the 1.3500/50 region.”

That puts the bank’s first support area at 1.3715-1.3735, followed by a potential move towards 1.3500-1.3550.

Trade restrictions draw a muted response Washington’s latest measures will ban certain Canadian dairy products, motorcycles and most alcoholic beverages from September 29, following Canada’s retaliatory tariffs on US goods.

Scotiabank reported little immediate currency reaction to the announcement, following a similarly restrained assessment of President Trump’s weekend comments about Canada’s exchange rate.

“If the White House does have a beef with the low CAD, some further clarity is required.”

The bank’s estimated fair value for USD/CAD has edged down to 1.3736, below the current market rate.

This is a model estimate of equilibrium rather than a dated exchange-rate target, but its direction supports Scotiabank’s assessment that underlying Canadian Dollar drivers are improving.

Image: USD to CAD exchange rate 3-month chart The Canadian bank argues that last week’s failed US Dollar recovery established firm resistance in the low-to-mid 1.39 area.

“Trend momentum is USD-bearish across short-, medium-, and long-term studies, meaning that moderate USD gains (through the mid-1.38s) are likely to draw selling interest.”

We think that makes the response to a rebound towards 1.3850 particularly useful in judging this prediction.

Renewed selling there would reinforce Scotiabank’s call, while a sustained recovery into the 1.39 area would challenge its expectation that the downtrend is resuming.

Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.

Nebius just auctioned its first Blackwell capacity above any price it has ever charged, and management says it could sell all of 2027 right now but is choosing not to. Whether that restraint makes the stock a buy at these…

At its current $243.88 share price, Nebius Group (NASDAQ:NBIS | NBIS Price Prediction) looks compelling for investors focused on the next leg of AI compute pricing power. Shares have run hard, but management’s most recent disclosures suggest the pricing story is only beginning to inflect.

Nebius operates a full-stack AI cloud platform spanning compute, storage, managed services, and inference, with its Token Factory targeting open-model deployment. NVIDIA‘s (NASDAQ:NVDA) strategic equity investment and Exemplar Cloud designation place Nebius inside the reference architecture for Blackwell and Vera Rubin builds, alongside anchor contracts with Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT). The stock has climbed from $88.62 at the February 2026 filing to today’s level as capacity milestones and record run-rate revenue have landed in sequence.

Why Full-Capacity Pricing Is the Real Story The Q2 earnings call reframed the thesis. CEO Arkady Volozh said Nebius “could sell today our entire 2027 capacity on these terms if we wanted to”, but is deliberately holding capacity back for premium short-duration deals. Its first Blackwell capacity auction cleared 15% above the highest price the company had ever charged, and short-duration contracts are being negotiated at $40 million to $50 million per megawatt versus $20 million to $25 million on mid-term deals.

Q2 revenue reached $582.3M, up 454% YoY, with group adjusted EBITDA of $236 million at a 41% margin. Management raised contracted power to 5 gigawatts by year-end, RPO stands at $37.5B, and ARR guidance of $7B to $9B by year-end 2026 was reaffirmed. Four landmark Q2 deals averaged more than a billion dollars each.

Where the Bear Argument Bites Hardest The build is capital-intensive at unprecedented scale. FY 2026 capex guidance sits at $20 billion to $25 billion, and Q2 interest expense surged to $95 million from roughly $4.8 million a year prior. Convertible debt carries $8.5B at cost but $20.8B in fair value, embedding real dilution risk. The ATM program placed 12.7 million Class A shares at an average of $224, with 12.3 million shares still authorized.

Three customers accounted for 24%, 21%, and 14% of Q2 revenue. GAAP net loss came in at $190.4M despite the EBITDA inflection, and revenue missed consensus in three of the four quarters preceding the Q2 beat. FY 2026 EPS consensus has been cut to -$2.5183 from -$1.6233 ninety days ago.

Reasons Some Investors Would Rather Sit Tight NBIS is up 191.36% YTD versus 12.32% for the S&P 500, and trades at roughly 45x forward earnings and 45x trailing sales. Much of the ARR ramp, 5 GW power target, and 40% EBITDA margin outlook is arguably discounted at these levels. Execution on Pennsylvania (1.2 GW), Finland (310MW), and Missouri (1.2 GW) sites still has to land on schedule, and every one of those gigawatts has to be powered and cooled by somebody (we rounded up seven suppliers doing exactly that work in a free AI infrastructure report).

Patient investors could wait for Q3 revenue to validate the $906.6M consensus and Q4 to test the ARR range. Cost of patience is real if auction pricing keeps climbing, and so is the cost of adding at fresh 52-week highs.

What the Data Actually Says Nebius trades at $243.88 with a market cap near $61.5B and forward P/E near 45. The 4-analyst mean target of $286.69 sits above the current share price, though price targets are one data point and not a guarantee. The ratings breakdown:

Strong Buy: 1 Buy: 2 Hold: 1 Sell: 0 Recent performance separates NBIS from the market: up 22.22% in one week, 29.74% over one month, 191.36% YTD, and 280.71% over one year. SPY returned 0.55% for the week, -0.94% over one month, and 12.32% YTD. FY 2026 revenue consensus sits at $3.34B across 17 analysts, rising to roughly $11.97B for FY 2027.

Verdict on Nebius at Current Levels At $243.88, the setup for Nebius Group looks constructive. Here is why.

Q2’s pricing signal is the pivotal development. When a supplier can auction Blackwell capacity 15% above its prior high and command $40 million to $50 million per megawatt on short-duration deals, ARR guidance of $7B to $9B reads as a floor built on mid-term contracted pricing that management is deliberately leaving room to exceed.

Three near-term catalysts drive the path higher: Q3 and Q4 2026 results validating ARR against the $906.6M and $1.45B consensus prints, an initial 2027 revenue guide from management, and additional asset-backed debt at SOFR plus 250 basis points that eases reliance on dilutive equity. The July $775M facility is the template. Scaling it makes the convertible overhang more manageable.

Risk/reward at $243.88 demands careful sizing after a 191% YTD run. The thesis breaks if Q3 revenue misses the $906.6M bar, if the 5 GW power target slips, or if auction pricing rolls over. Short of those signals, the setup favors owning the operator that keeps proving pricing power in a supply-constrained market.

Contact [email protected] for any questions or corrections.

Oddity Tech (ODD - Free Report) came out with quarterly earnings of $0.2 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +66.67%. A quarter ago, it was expected that this online retailer of cosmetics and beauty products would post a loss of $0.04 per share when it actually produced a loss of $0.17, delivering a surprise of -325%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Oddity Tech, which belongs to the Zacks Internet - Software industry, posted revenues of $180.52 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.27%. This compares to year-ago revenues of $241.14 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Oddity Tech shares have lost about 67.6% since the beginning of the year versus the S&P 500's gain of 12.1%.

What's Next for Oddity Tech?While Oddity Tech has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Oddity Tech was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.10 on $118.35 million in revenues for the coming quarter and $0.06 on $619.4 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Penguin Solutions, Inc. (PENG - Free Report) , has yet to report results for the quarter ended August 2026.

This company is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of +74.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Penguin Solutions, Inc.'s revenues are expected to be $512.5 million, up 51.7% from the year-ago quarter.

Quiq Capital LLC is a boutique asset manager providing secured loans to Small and Medium Sized Enterprises & Real Estate Strategies

, /PRNewswire/ -- Quiq Capital LLC and Quiq Income Fund II, L.P. ("Quiq" or the "Fund") are pleased to announce it has entered into an amendment and upsize to its revolving credit facility (the "Facility") with Dime Commercial Bancshares, Inc. (NYSE: DCOM), the parent company of Dime Commercial Bank (the "Bank" or "Dime").  The amendment affords Quiq the ability to, among other things, increase the borrowing capacity to $30.0 million, reduce the interest rate and provide additional financial flexibility and liquidity to support business growth.

"We are very pleased to announce this amendment and upsize to our Facility with Dime," said Ashish Parikh, Principal at Quiq Capital. "The increased borrowing capacity is a testament to our growing capital base and strong fund performance since launching our Fund in 2024. The amended facility not only reduces our borrowing costs, but it also enhances our flexibility to fund attractive opportunities with compelling, risk-adjusted returns. Additionally, we believe our strong performance and our growing partnership with Dime provide us optionality to pursue strategic financings while remaining disciplined and prudent with our capital."

"Since entering our lending relationship with Quiq in 2025, we have been able to meaningfully grow our relationship in a short period of time, and our partnership is emblematic of the relationships that we strive to foster with new and existing clients. We look forward to working with the talented team at Quiq and continuing to provide bespoke capital solutions for this fast-growing firm." said Shawn Gines, Executive Vice President and Head of Corporate & Specialty Finance at Dime Commercial Bank.

ABOUT QUIQ
Quiq Capital LLC is a boutique asset manager that provides secured loans to Small and Medium Sized Enterprises ("SMEs") and Real Estate Strategies. The Fund is a private credit lender that creates high-value, risk-adjusted investments by empowering the growth of lower middle market businesses. Through private capital and structured lending, the Fund provides critical funding for asset-backed and high-growth profitable businesses with a proven track record of outperformance and strong governance.

ABOUT DIME COMMERCIAL BANCSHARES, INC.
Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-chartered trust company with approximately $15 billion in assets and the number one deposit market share on Greater Long Island (1).

(1)Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

Forward-Looking Statements

This press release may contain forward-looking statements, including, without limitation, statements regarding the plans and objectives of management for future operations. These statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Quiq Capital LLC and Quiq Income Fund II, L.P. to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.

SOURCE QUIQ CAPITAL

Detailed Phase 3 CANOPY-HCH-3 data in children living with hypochondroplasia also featured in a late-breaking oral presentation at the European Society for Paediatric Endocrinology (ESPE) 2026 Annual Meeting

VOXZOGO demonstrated statistically significant improvements across multiple measures of growth, including annualized growth velocity, standing height, height Z-score and arm span

BioMarin recently submitted a supplemental New Drug Application (sNDA) to the FDA to support expanding treatment with VOXZOGO to include children with hypochondroplasia

, /PRNewswire/ -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced new data from the Phase 3 CANOPY-HCH-3 study evaluating VOXZOGO® (vosoritide) in children with hypochondroplasia were published in New England Journal of Medicine (NEJM) Evidence and presented at the European Society for Paediatric Endocrinology (ESPE) 2026 Annual Meeting. The data included new results on the magnitude of benefit seen in children receiving VOXZOGO, including statistically significant improvements in annualized growth velocity (AGV), standing height, height Z-score and arm span after 52 weeks, with safety findings consistent with the established profile of VOXZOGO in achondroplasia.

The CANOPY-HCH-3 study showed that treatment with VOXZOGO led to a statistically significant improvement in AGV compared with placebo after 52 weeks, meeting the study's primary endpoint (least squares [LS] mean difference of 2.33 cm/year; p<0.0001). Children treated with VOXZOGO also showed significant improvements in standing height (LS mean difference of 2.35 cm; p<0.0001), height Z-score (LS mean difference of 0.39 standard deviation score; p<0.0001), and arm span (LS mean difference of 1.03 cm; p=0.0082) compared with placebo. Children who received VOXZOGO also demonstrated numerical improvements in quality of life, and follow-up will continue to assess the impact of treatment over a longer term. The overall safety profile was consistent with previous studies of VOXZOGO, with most adverse events reported as mild and no treatment-related serious adverse events identified.

"These results presented in detail for the first time provide a comprehensive picture of the impact of VOXZOGO across multiple measures of growth in children with hypochondroplasia," said Greg Friberg, M.D., Executive Vice President and Chief Research & Development Officer at BioMarin. "Based on this compelling body of evidence, we have submitted these data to the FDA with the goal of securing approval for the first medicine for children with hypochondroplasia."

"Hypochondroplasia can affect a child's growth, physical function and everyday life, with families often navigating unique challenges as they support their children's development," said Andrew Dauber, M.D., lead study investigator and Chief of Endocrinology at Children's National in Washington, D.C. "The changes we observed in annualized growth velocity and arm span provide encouraging evidence of how children with hypochondroplasia responded to treatment throughout the study. These findings deepen our understanding of the condition while reinforcing VOXZOGO's potential as the first targeted medicine developed specifically for children with hypochondroplasia."

BioMarin recently submitted its supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for the approval of VOXZOGO for the treatment of hypochondroplasia and are on track with the submissions to the European Medicines Agency (EMA) and other regional health authorities. If approved, VOXZOGO would be the first targeted therapy for the treatment of hypochondroplasia, with a potential 2027 launch.

Below are key BioMarin presentations across both achondroplasia and hypochondroplasia at ESPE, with all times listed in Central European Summer Time:

Vosoritide Increases Growth Velocity in Children With Hypochondroplasia: Phase 3 Trial Results
Oral Presentation #LBA 1067
Wednesday, Sept. 9, 10:48 – 10:56 a.m.

Vosoritide Safety and Effectiveness in Young Children With Achondroplasia Aged ≤3 Years and With up to 36 Months of Follow-Up from the Japanese Post-Marketing Safety Surveillance Study (111-604)
Oral Presentation #FC3.4
Tuesday, Sept. 8, 3:30 – 3:40 p.m.

About Hypochondroplasia 

Hypochondroplasia is a rare, genetic skeletal dysplasia characterized by impaired bone growth, leading to disproportionate short stature and skeletal differences that can affect the long bones, spine and other parts of the skeleton and may impact physical functioning and overall quality of life. The condition presents with a broad and variable clinical spectrum and may include otolaryngologic (related to the ears, nose and throat) and neurological complications and is often diagnosed in toddlerhood or early school age based on clinical and radiological findings. BioMarin estimates that roughly 14,000 children with hypochondroplasia within the company's global footprint may be eligible for treatment with VOXZOGO. 

There are currently no medicines approved by the U.S. Food and Drug Administration or the European Medicines Agency for the treatment of hypochondroplasia. 

For more information about our clinical trials in hypochondroplasia, achondroplasia and other skeletal conditions, please visit clinicaltrials.biomarin.com. 

About VOXZOGO 

In children with achondroplasia, endochondral bone growth, an essential process by which bone tissue is created, is negatively regulated due to a gain of function mutation in FGFR3. VOXZOGO, a C-type natriuretic peptide (CNP) analog, acts as a positive regulator of the signaling pathway downstream of FGFR3 to promote endochondral bone growth. 

VOXZOGO is the only approved medicine to support the growth of children with achondroplasia starting from birth, with international consensus guidelines recommending initiation of VOXZOGO as early as possible. First approved in 2021, VOXZOGO has helped more than 5,000 infants and children in more than 50 countries. Through our ongoing studies, BioMarin continues to evaluate VOXZOGO on key clinical endpoints relevant for achondroplasia patients, such as arm span, tibial bowing (leg bowing), body proportionality, spinal morphology (including spinal stenosis) and quality of life measures.

VOXZOGO is approved in the U.S., Japan and Australia to increase linear growth in children of all ages with achondroplasia with open epiphyses, and VOXZOGO is indicated in the EU for the treatment of achondroplasia in children 4 months of age and older whose epiphyses are not closed, as confirmed by appropriate genetic testing. In the U.S., this indication is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trial(s). An sNDA with long-term safety and efficacy data from three ongoing studies, including adult height and additional clinical outcomes beyond linear growth such as body proportionality and arm span is under review with an FDA Prescription Drug User Fee Act (PDUFA) target action date of Feb. 28, 2027.

The use of VOXZOGO to treat hypochondroplasia has not yet been approved by any regulatory agency. 

VOXZOGO U.S. Important Safety Information 

What is VOXZOGO used for? 

VOXZOGO is a prescription medicine used to increase linear growth in children with achondroplasia and open growth plates (epiphyses).  VOXZOGO is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trials.  What is the most important safety information about VOXZOGO? 

VOXZOGO may cause serious side effects including a temporary decrease in blood pressure in some patients. To reduce the risk of a decrease in blood pressure and associated symptoms (dizziness, feeling tired, or nausea), patients should eat a meal and drink 8 to 10 ounces of fluid within 1 hour before receiving VOXZOGO.  What are the most common side effects of VOXZOGO? 

The most common side effects of VOXZOGO include injection site reactions (including redness, itching, swelling, bruising, rash, hives, and injection site pain), high levels of blood alkaline phosphatase shown in blood tests, vomiting, joint pain, decreased blood pressure, and stomachache. These are not all the possible side effects of VOXZOGO. Ask your healthcare provider for medical advice about side effects, and about any side effects that bother the patient or that do not go away.  How is VOXZOGO taken? 

VOXZOGO is taken daily as an injection given under the skin, administered by a caregiver after a healthcare provider determines the caregiver is able to administer VOXZOGO. Do not try to inject VOXZOGO until you have been shown the right way by your healthcare provider. VOXZOGO is supplied with Instructions for Use that describe the steps for preparing, injecting, and disposing VOXZOGO. Caregivers should review the Instructions for Use for guidance and any time they receive a refill of VOXZOGO in case any changes have been made.  Inject VOXZOGO 1 time every day, at about the same time each day. If a dose of VOXZOGO is missed, it can be given within 12 hours from the missed dose. After 12 hours, skip the missed dose and administer the next daily dose as usual.  The dose of VOXZOGO is based on body weight. Your healthcare provider will adjust the dose based on changes in weight following regular check-ups.  Your healthcare provider will monitor the patient's growth and tell you when to stop taking VOXZOGO if they determine the patient is no longer able to grow. Stop administering VOXZOGO if instructed by your healthcare provider.  What should you tell the doctor before or during taking VOXZOGO? 

Tell your doctor about all of the patient's medical conditions including  If the patient has heart disease (cardiac or vascular disease), or if the patient is on blood pressure medicine (anti-hypertensive medicine).  If the patient has kidney problems or renal impairment.  If the patient is pregnant or plans to become pregnant. It is not known if VOXZOGO will harm the unborn baby.  If the patient is breastfeeding or plans to breastfeed. It is not known if VOXZOGO passes into breast milk.  Tell your doctor about all of the medicines the patient takes, including prescription and over-the-counter medicines, vitamins, and herbal supplements.  You may report side effects to BioMarin at 1-866-906-6100. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088. 

Please see additional safety information in the full Prescribing Information and Patient Information. 

About BioMarin 

BioMarin is a leading, global rare disease biotechnology company focused on delivering medicines for people living with genetically defined conditions. Founded in 1997, the San Rafael, California-based company has a proven track record of innovation, with nine commercial therapies and a strong clinical and preclinical pipeline. Using a distinctive approach to drug discovery and development, BioMarin seeks to unleash the full potential of genetic science by pursuing category-defining medicines that have a profound impact on patients. To learn more, please visit www.biomarin.com.

Forward-Looking Statements

This press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including without limitation, statements about: the data to be presented at European Society for Paediatric Endocrinology (ESPE) 2026 Annual Meeting, including the safety profile and potential benefits of VOXZOGO for children with hypochondroplasia and achondroplasia; BioMarin's plans and expectations for the development of VOXZOGO for children with hypochondroplasia, including the expectation that, if approved by the U.S. Food and Drug Administration (FDA), VOXZOGO would be the first targeted therapy for the treatment of hypochondroplasia with a potential 2027 launch; BioMarin's expectations regarding its supplemental New Drug Application (sNDA) for VOXZOGO for full approval in children with achondroplasia, including expectations regarding the Prescription Drug User Fee Act (PDUFA) target action date; and BioMarin's estimate regarding total addressable patient population (TAPP) with respect to the conditions targeted by BioMarin's product candidates and commercial products, including hypochondroplasia. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others, results and timing of current and planned preclinical studies and clinical trials and the release of data from those trials; any potential adverse events observed in the continuing monitoring of the patients in the clinical trials; the content and timing of decisions by the FDA, the European Medicines Agency, the European Commission and other regulatory authorities; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission (SEC), including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, as such factors may be updated by any subsequent filings with the SEC. Investors are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.

BioMarin® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc.

Contacts:

Investors: 

Media

Traci McCarty

Andrew Villani

BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc.

(415) 455-7558

(628) 269-7393

SOURCE BioMarin Pharmaceutical Inc.

Apple (NASDAQ: AAPL) unveiled the iPhone Air and broader iPhone 17 lineup at its September 2025 launch event, kicking off a product cycle that helped drive the company’s shares sharply higher over the following year.

Since the event on September 9, 2025, Apple stock has climbed from about $233 to $316, a gain of roughly 35.6%. 

Apple stock price chart. Source: Finbold As a result, a $1,000 investment made on the day of the launch would now be worth approximately $1,356, excluding dividends.

Apple’s successful product roll-out The rally coincided with a successful rollout of the iPhone 17 family, including the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and ultra-thin iPhone Air. Strong demand boosted upgrade rates and helped accelerate growth throughout fiscal 2026.

That momentum was reflected in Apple’s fiscal Q3 2026 results. The company reported record June-quarter revenue of $109.42 billion, up 16.4% year over year.

iPhone revenue rose 21.7% to $54.3 billion, while Mac revenue increased 28.7% to $10.4 billion. Services revenue reached a June-quarter record of $30.74 billion, helping lift net income 27% to $29.8 billion. Diluted EPS came in at $2.02, ahead of analyst estimates of $1.89.

At the same time, the technology giant’s pricing power also supported results. Despite higher memory costs, the company adjusted prices on select products and guided for September-quarter revenue growth of 9% to 11% and gross margins of 47% to 48%.

Long-term growth drivers remain intact with Apple’s silicon strategy continuing to deliver performance and efficiency advantages, while Services has evolved into a high-margin business generating more than $120 billion in trailing 12-month revenue. 

Apple 2026’s Event Investor sentiment has also been supported by expectations for future products under CEO John Ternus. 

Anticipation surrounding Apple’s first foldable iPhone and other premium devices has helped sustain interest in the stock, even as component shortages and elevated memory costs created periodic volatility.

The focus now shifts to Apple’s September 9, 2026, event, titled “Surprise and Shine,” the first major product presentation under Ternus after succeeding Tim Cook on September 1. 

Apple is expected to unveil the iPhone 18 Pro and iPhone 18 Pro Max powered by the A20 Pro chip, alongside its long-awaited foldable iPhone.

Updated Apple Watch Series 12 and Ultra 4 models are also anticipated, while the standard iPhone 18 lineup is reportedly being pushed to spring 2027 as part of a strategy focused on higher-margin products.

Featured image via Shutterstock

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Apple's new CEO John Ternus faces his first real test before he has even settled in, as customers weigh whether to absorb two price increases inside two weeks or simply sit out the upgrade cycle entirely.

Apple (NASDAQ:AAPL | AAPL Price Prediction) is asking customers to pay more on two fronts inside a fortnight, and the second raise arrives today. Apple stock trades at $316.06, down 0.1% in Wednesday morning trading, and it’s up 17% year to date.

Two broad benchmarks are drifting alongside the launch. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) trades at $763.94, down 0.3%. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) sits at $718.29, practically unchanged.

Two Price Hikes in Two Weeks Apple raised the U.S. Apple TV subscription to $14.99 a month from $12.99, per a MacRumors report dated August 28. Today’s product event is expected to widen the hardware ask, with CNBC’s MacKenzie Sigalos reporting the Street looks for like-for-like iPhone price increases of $200 to $500 versus comparable iPhone 17 models.

Former CEO Tim Cook had framed the hardware repricing as forced by supply-chain math on Apple’s fiscal Q3 2026 call, saying Apple “reluctantly raised prices” because of a “100-year flood on the memory pricing.” Apple posted revenue of $109.42 billion, up 16.4% year over year, with iPhone revenue of $54.3 billion and Services of $30.7 billion.

The Bundle Took a Raise, Too The streaming increase didn’t travel alone. Apple One Individual went to $21.95 a month from $19.95 on the same day, since the bundle carries Apple TV inside it. Apple One Family and Apple One Premier held steady that day, but only because both had already been raised in July alongside an Apple Music increase. Read across the summer and the count isn’t two price increases in a fortnight. It’s a rolling sequence that started well before the September event, with Apple One Individual the last plan to get pulled up to the new line.

The Apple TV ladder is steeper than the single step suggests. The service launched in 2019 at $4.99 a month. It moved to $6.99 in 2022, to $9.99 in 2023, to $12.99 in 2025, and now to $14.99, with the annual plan going to $119 from $99. That’s four increases against one launch price, and the U.S. wasn’t alone: Brazil, Chile and Mexico were repriced the same day, while every other market was left untouched.

The revenue lands on a delay, which matters for how fast any of this reaches the Services line. New subscribers pay the higher rate immediately, while existing subscribers are notified roughly a month before their renewal bills at the new price. That gap is also the window in which cancellations happen, so the increase gets tested by subscribers before it gets counted by Apple. Whether it holds is Ternus’s problem, not Cook’s.

Streaming Peers Face the Same Playbook Netflix (NASDAQ:NFLX) says its own hikes are landing well. Netflix Q2 2026 revenue reached $12.56 billion, up 13.4%, and Greg Peters stated “our recent price adjustments are going well on the pricing side.” Netflix stock is down 18% year to date.

Walt Disney (NYSE:DIS) leaned on the same lever, with Entertainment SVOD subscription revenue growing 15% in fiscal Q3 2026 on rate and volume. Spotify Technology (NYSE:SPOT) crossed 300 million Premium subscribers with ARPU up 7% to $5.63. Disney shares are down 8.27% year to date, and Spotify shares are down 8.93%.

What Ternus Inherits John Ternus stepped in as Apple’s chief executive on August 31, which means the streaming raise and the memory-cost reasoning both belong to Cook. What Ternus owns is execution: whether customers absorb a second increase inside two weeks or hold their current iPhone for another cycle.

Apple stock carries a P/E ratio of 41x and a market cap near $4.61 trillion, so pricing follow-through matters for the multiple. Investors can size their positions with room to add if the hardware bump sticks and its gross margin holds inside the guided 47% to 48% September-quarter range. Shareholders may want to keep an eye on whether iPhone upgrade rates cool after a $200 to $500 like-for-like step up.

Contact [email protected] for any questions or corrections.

Meta just attached a price tag to its AI ambitions, and traders are now asking whether a consumer subscription can justify one of the biggest capital budgets in tech history while a key rival takes an immediate hit.

Meta Platforms (NASDAQ:META | META Price Prediction) put a price tag on its AI buildout Tuesday evening with Muse, a personal AI agent sold through a tiered consumer subscription, and investors moved quickly Wednesday morning. The launch answers the standing bear case that Meta Platforms’ capital spending carried no direct consumer revenue line, and the reaction reads as a company-specific repricing rather than a broader bid for AI names. Overnight endorsements from commerce and startup leaders added credibility to the rollout heading into the open.

Meta Platforms stock is up 6% to $649.20 Wednesday morning, the first meaningful vote for the company’s AI monetization since its July earnings report. Meanwhile, Alphabet (NASDAQ:GOOGL) stock is down 2% to $330.53 as investors read Muse as encroachment on Gemini’s consumer agent footprint.

For broader market context, the Invesco QQQ Trust (NASDAQ:QQQ) is down 0.5% to $714.55. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.3% to $763.38, confirming today’s move is a single-name story rather than a sector rotation.

Muse Puts a Price on the AI Spend [chart symbol=”META”]

Meta Platforms launched Muse Tuesday evening as a personal AI agent available through a dedicated app and through WhatsApp. Muse can use a browser, run in the background, connect to a user’s existing services, and complete tasks including sending email, organizing calendars, planning trips, filling forms, and making payments. The agent runs on Meta Platforms’ Muse Spark model, which the company said drove a 60% jump in daily interactions with Meta AI after integration.

Meta Platforms introduced paid plans at $20 per month and $100 per month above a free tier, the first direct consumer revenue line attached to its AI buildout. Alexandr Wang, chief AI officer at Meta Platforms, said Muse follows a “principle of least privilege,” with users deciding which connectors are enabled and whether the agent can read or modify data. Shopify (NASDAQ:SHOP) CEO Tobi Lütke and Y Combinator’s Garry Tan publicly praised the launch overnight, positioning Muse as an ecosystem asset rather than a walled-garden play.

The launch matters because Meta Platforms has faced sustained criticism for pouring capital into AI without a subscription line to model against. Meta Platforms reported Q2 2026 capital expenditures of $30.1 billion and guided full-year 2026 capex to $130 to $145 billion, with operating margin compressing to 31% from 43% a year earlier. Muse gives investors the first pricing anchor to weigh against that spend.

Alphabet Slips as the Repricing Stays Company-Specific [chart symbol=”GOOGL”]

Alphabet reported Q2 2026 revenue of $119.8 billion, up 24.2% year over year (YoY), with Google Cloud growing 82% to $24.77 billion and the Gemini App reaching 950 million monthly active users. That’s a strong AI adoption story, yet Alphabet stock is falling today because Muse targets the consumer agent surface Google has been building around Gemini.

Alphabet’s Q2 capital expenditures hit $44.92 billion, its free cash flow turned to negative $5.9 billion, and the company suspended its stock buyback in Q2 2026. Traders want to see who wins the consumer agent race before paying up further for Alphabet stock, and Muse arriving with a WhatsApp distribution footprint compresses that timeline.

Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Shopify sit adjacent to the story without occupying the same seat. Microsoft’s fiscal Q4 2026 results showed Copilot crossing 30 million paid seats with Azure past $100 billion in annual revenue. Amazon’s AWS grew 37% to $42.23 billion in Q2 2026, with its AI business at a $25 billion annualized run rate (we profiled seven suppliers powering that data-center buildout, from power to cooling, in a free AI infrastructure report). Shopify remains a commerce-AI adjacency, and Lütke endorsing Muse frames it as a distribution partner for merchants rather than a rival.

What to Watch Meta Platforms delivered $60.8 billion in Q2 2026 revenue against that full-year capital budget, and its free cash flow narrowed to $784 million from $8.55 billion a year earlier. A subscription line at those price points has to scale meaningfully before it moves that math. Today’s rally is sentiment moving ahead of evidence.

Meta Platforms stock is down 2% year to date (YTD), so Wednesday’s gain narrows a losing year rather than extending momentum. Investors can watch for early Muse adoption disclosures, WhatsApp attach rates, and any read-through in the Q3 2026 earnings call, when Meta Platforms will need to translate agent engagement into a monetization curve.

Traders weighing their exposure should calibrate their holdings carefully given a Muse thesis that rests on a consumer subscription yet to prove it can offset a capital budget of this size. A moderate position that reflects both today’s monetization catalyst and Meta Platforms’ free cash flow compression is the sensible frame from here.

Contact [email protected] for any questions or corrections.

GSA Capital Partners LLP purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,488 shares of the e-commerce giant’s stock, valued at approximately $2,261,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Asset Management LLC lifted its holdings in shares of Amazon.com by 3.3% in the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant’s stock valued at $26,000 after purchasing an additional 3,414 shares in the last quarter. MilWealth Group LLC lifted its stake in Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new stake in Amazon.com in the 4th quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership boosted its position in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares during the last quarter. Finally, Fairway Wealth LLC boosted its position in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.6% Shares of NASDAQ:AMZN opened at $256.97 on Wednesday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. The business has a 50 day moving average of $254.88 and a 200-day moving average of $243.41. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.77 trillion, a PE ratio of 20.67, a P/E/G ratio of 1.99 and a beta of 1.44.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to analysts’ expectations of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted $1.68 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 8.05 earnings per share for the current year. Analyst Ratings Changes AMZN has been the topic of a number of recent research reports. Truist Financial lifted their price objective on shares of Amazon.com from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a “buy” rating and set a $350.00 price target (up from $340.00) on shares of Amazon.com in a research report on Friday, July 31st. Raymond James Financial restated an “outperform” rating and set a $390.00 price objective (up from $280.00) on shares of Amazon.com in a research note on Friday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $323.26.

View Our Latest Stock Report on AMZN

Key Stories Impacting Amazon.com Here are the key news stories impacting Amazon.com this week:

Positive Sentiment: AWS expands its custom-chip strategy. Amazon and Qualcomm announced a multi-generation collaboration to develop customized AI data-center silicon, initially focused on AWS inference, along with optical-connectivity solutions of up to 1.6T. The agreement diversifies Amazon’s supply chain beyond Nvidia, Broadcom and its internally developed Trainium chips, while supporting AWS’s long-term AI infrastructure buildout. Qualcomm Announces Multi-Generational Product Collaboration with Amazon Positive Sentiment: Profitability remains a key investment argument. Commentary highlighted AWS’s roughly 39% operating margin and recent acceleration in cloud growth as reasons investors may view Amazon’s valuation as attractive, particularly with the stock trading near its 50-day moving average and below its recent high. Amazon’s AWS Operating Margin Neutral Sentiment: Amazon is preparing a sterling bond offering. The company has hired banks for its first sterling-denominated bond sale, apparently seeking additional funding sources for major AI and infrastructure investments. The move may improve financing flexibility, but it also underscores the scale of Amazon’s capital requirements. Amazon Hires Banks for First Sterling Bond Sale Negative Sentiment: Fatal Prime Air crash increases operational and reputational risk. Federal investigators are examining why a contractor-operated Boeing 767 cargo jet overshot the Miami runway by about 1,300 feet, killing five people. The investigation could bring additional scrutiny to Amazon Air’s contractor oversight, logistics practices and potential liability. Investigators Probe Amazon Cargo Plane Crash Negative Sentiment: Employment lawsuit adds legal and regulatory uncertainty. Four former warehouse workers allege Amazon discriminated against pregnant employees by penalizing medically necessary breaks and absences. The class-action complaint could create litigation costs and renewed scrutiny of warehouse labor policies. Amazon Sued for Allegedly Discriminating Against Pregnant Workers Insider Activity In other news, CEO Matthew S. Garman sold 14,541 shares of Amazon.com stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares of the company’s stock, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Olsavsky sold 6,172 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares of the company’s stock, valued at approximately $28,427,674.17. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 71,589 shares of company stock worth $18,568,785. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Company Profile (Free Report)

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon’s websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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Azure and Google Cloud are posting jaw-dropping growth numbers just as Treasury yields hit levels that have historically crushed high-multiple tech stocks. Whether Microsoft's fortress balance sheet or Alphabet's cheaper valuation wins this rate-scare showdown could determine which mega-cap compounds…

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Microsoft (NASDAQ: MSFT | MSFT Price Prediction) and Alphabet (NASDAQ: GOOGL) both posted blowout AI-fueled quarters just as the 10-year Treasury yield pushed to 4.78%, its 98.8th percentile reading over the past year. With rate-hike anxiety squeezing growth multiples, these two mega-caps stand out because their balance sheets absorb the shock other hyperscalers have to borrow through. Huge cash reserves make borrowing-cost worries less prominent for both.

Azure Crosses $100 Billion, Google Cloud Accelerates to 82% Microsoft’s fiscal Q4 delivered revenue of $90.01 billion, up 17.8%, with Intelligent Cloud jumping 32% and Azure growing 43%. Satya Nadella called out that “Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats.” Commercial RPO ballooned to $678 billion, up 84%, a booking backlog that dwarfs peers.

Alphabet’s Q2 was arguably louder. Revenue hit $119.80 billion, up 24.2%, marking its 12th straight quarter of double-digit growth. Google Cloud accelerated to 82% growth at $24.77 billion, a stunning jump. Sundar Pichai noted “nearly 90% of the Fortune 100 using” Gemini Enterprise, and Search still cranked out $63.27 billion, up 17%.

Business Driver Microsoft Alphabet Cloud growth Azure +43% Google Cloud +82% FY CapEx $115.95B $91.45B (FY25) Main AI wedge Copilot + OpenAI Full-stack Gemini + TPUs Cash Fortress vs. Debt-Funded Sprint Microsoft generated $182.94 billion in operating cash flow for FY26 and still returned over $43 billion to shareholders. Amy Hood emphasized flexibility: “You have a big book of business that’s flexible… It does allow us to have a lot more flexibility to manage through those.” Free cash flow was pinched to $19.64 billion, but the war chest keeps rate sensitivity muted.

Alphabet leaned harder on financing. Q2 free cash flow turned negative $5.86 billion, long-term debt jumped from $46.5 billion to $98.2 billion, and buybacks were suspended. Alphabet raised roughly $70 billion in combined equity and debt. Rising yields matter more here, though Google’s P/E of 17 gives it valuation cushion versus Microsoft’s P/E of 28.

What Decides the Next Leg I will be watching whether Microsoft can convert that $678 billion RPO into revenue without margin slippage as capacity finally catches demand. For Alphabet, the key metric to watch is when free cash flow turns positive again and whether Google Cloud’s 82% pace holds. If yields keep climbing from 4.78%, the debt-funded builder will feel it first (the power, cooling, and networking names taking the other side of that capex are in our free AI infrastructure report).

Why I Lean Toward Alphabet on Valuation Right Now Personally, I find Alphabet more interesting at these levels. A forward P/E of 23 for a business compounding 24% with an 82% cloud growth rate looks mispriced against Microsoft’s premium multiple. Microsoft is the safer AI compounder, and if you want the cleanest balance sheet and a 0.71% yield with buybacks intact, it fits defensive portfolios well. For a growth investor willing to absorb capex volatility, Alphabet’s ad moat plus Gemini traction stands out through this rate scare.

Contact [email protected] for any questions or corrections.

Ford's multibillion-dollar EV ambitions collapsed faster than almost anyone predicted, and the company's bold plan to rebuild from scratch raises more questions than it answers.

Ford’s (NYSE: F | F Price Prediction) first attempt to conquer the EV world was supposed to cost $30 billion. By the end of the decade, a huge share of its new-car sales would be EVs. They would sell hundreds of thousands a year. They even used two of their iconic brands for EV launches. The F-150 Lightning was named after America’s best-selling vehicle for decades. The Mustang Mach-E was named after one of the best-selling cars in Ford history.

Ford has finally run out of EVs just as it tries to enter the sector again

In July, Ford sold only 141 Lightning units, down 95% from the year before. That is less than five a day across the entire US. Ford sold 1,863 Mach-Es, down 64.9%. Inventory for both must be near zero.

Ford has made an odd decision about re-entering the EV segment. It will build and sell just one vehicle. It will cost a fortune to get it off the assembly line, and Ford has not said what it will introduce behind it. The Fathom is a small EV pickup, which will sell for under $30,000. Its feature list is close to what you would get on a Tesla. But Tesla had them years ago.

Ford will build the Fathom using the Universal EV Production System. It is, says Ford, the largest advance in assembly lines since the one Henry Ford created to make the Model T. Here is the most astonishing thing. Of all the huge car companies in the world, all the new Chinese EV companies, and the EV segment led by Tesla (NASDAQ: TSLA), no other car company has been able to create a similar, wildly advanced assembly line. Ford, and only Ford, has figured this out. Impossible? No. Very improbable? Yes

The sun has finally set on what was to be the worst decision in Ford’s history. It is rising on one that is meager, with one small vehicle to be sold into a US market that does not want EVs.

Contact [email protected] for any questions or corrections.

Salesforce bulls are pointing to an AI monetization curve that is bending sharply upward, but the bears have real ammunition too, and with Dreamforce and Investor Day arriving next week, the stock sits at a crossroads where the next few…

At $249.12, Salesforce (NYSE:CRM | CRM Price Prediction) screens attractively. The stock looks fully priced on trailing numbers, yet the AI monetization curve underneath it is bending sharply upward, and the setup into Dreamforce and the September 16, 2026 Investor Day gives bulls a near-term catalyst the market has not fully absorbed.

Salesforce is the world’s largest customer relationship management software company, and it has spent the past year retooling itself around agentic AI. Fiscal 2026 revenue reached $41.53 billion, and management is guiding fiscal 2027 to $46.10 billion to $46.40 billion, with a stated $63 billion FY30 target. The stock, however, has lagged. Shares are down 5.47% year to date even after a 29.25% one-month surge tied to the Q2 report.

Why the Agentforce Ramp Changes the Math The bull argument starts with AI traction that is no longer theoretical. Agentforce ARR crossed $1.5 billion, up over 240% year over year, and combined Agentforce plus Data 360 ARR reached roughly $3.9 billion, up more than 210%. Q2 delivered revenue of $11.35 billion, up 10.83%, and a sixth straight EPS beat.

Valuation looks reasonable against that growth. Shares trade at roughly 27x trailing earnings with a 7.02% free cash flow yield. The $25 billion accelerated buyback took diluted shares to 821 million from 962 million, and cRPO grew 14% to $33.5 billion, a leading indicator that the second-half reacceleration is real.

Where the Bear Thesis Has Real Teeth Skeptics can point to genuine cracks. Q2 non-GAAP EPS of $5.90 was flattered by $2.53 per share in strategic investment gains, and operating income fell 0.04% year over year despite double-digit revenue growth. Free cash flow guidance of only 4% to 5% growth undercuts the AI hyper-growth story.

The balance sheet has changed too. Noncurrent debt jumped to $39.3 billion from $10.4 billion to fund the ASR, total liabilities rose 96.56%, and shareholders’ equity fell 37.42%. Bears argue the buyback is manufacturing EPS while operating leverage stalls.

Why Some Investors Are Still Waiting The Hold case rests on ambiguity. Revenue growth is guided at just 11% to 12%, which is not obviously worth a premium multiple. Informatica integration, FX, and $94 million in Q2 restructuring charges add noise. Some investors may look to Q3 for confirmation that Agentforce is converting bookings into GAAP operating leverage.

What the Numbers Say Right Now Shares currently trade at $249.12 against an analyst consensus target of $272.13, implying roughly 9% upside. Sentiment is constructive: 6 Strong Buy, 34 Buy, 14 Hold, 0 Sell, and 2 Strong Sell across 56 analysts, with 36 upward EPS revisions for FY27 in the trailing 30 days and zero cuts.

Performance tells a mixed story. CRM is down 5.47% year to date and roughly flat over one year at -0.4%, while the S&P 500 has returned 12.32% YTD and 18.05% over one year. Targets are one input among many, and the gap between fundamentals and price action is unusually wide here.

Why $249 Screens Attractively At $249.12, the setup for Salesforce looks constructive. Here is why.

The path to appreciation is specific. Agentforce ARR has moved from $500 million to $800 million to $1.2 billion to $1.5 billion in four quarters, and management said ARR is about to cross $4 billion across AI and data. If the second-half reacceleration lands, FY28 EPS estimates near $16.00 understate the operating leverage that Contentful, Fin, and ClaudeForce can unlock.

The catalyst window is short. Dreamforce and Investor Day arrive next week, the ASR settles in October 2026, and Q3 guidance of $11.42 billion to $11.50 billion looks beatable given 14% cRPO growth.

What invalidates the thesis: a Q3 miss on subscription revenue, Agentforce ARR growth slowing below 100% year over year, or GAAP operating margin compressing further. Watch cRPO and net-new AOV quarter by quarter. Underperformance versus the S&P 500 has compressed the risk into an entry price where the AI ramp is nearly free.

Contact [email protected] for any questions or corrections.

Sony Pictures Entertainment’s chairman- CEO Ravi Ahuja said the company’s restoration of the historic Cinerama Dome and reopening of the adjacent 14-screen former ArcLight Hollywood complex is a great way to expand the company’s brand without “mega M&A.”

“Large scale M&A is extremely disruptive,” he told the Bank of America media conference on Wednesday. “It can set you back for years.” He didn’t specifically mention the ongoing Paramount-Warner Bros. Discovery merger saga, but that’s very much in the air as the deal is challenged by state AGs with a March trial date and costs mounting.

SPE is focused on smaller, targeted projects like its 2024 acquisitions of the Alamo Drafthouse movie chain, which will manage the former multi-screen ArcLight with typical panache including a Jeopardy-themed bar and karaoke rooms based around Sony IP. Meanwhile, restoration work started last month on the historic Cinerama Dome with an early 2028 reopening date in mind.

The division of Japanese giant Sony Corp. recently unveiled a $100 million investment and minority ownership in immersive entertainment company Cosm.

It did make a run at Paramount before David Ellison’s Skydance acquired Shari Redstone’s ownership stake in the company. Asked about that, Ahuja said, “We were interested in it briefly, but in the IP” with plans for PE giant Apollo to take the cable assets. “IP will always be interesting to us [but] mega M&A, large scale is not a priority …  The industry is evolving and you have to position yourself for how it is gong to evolve and not drown in M&A.”

SPE, currently riding a massive box office hit in Spider-Man: Brand New Day amid a newly rejuvenated box office, is one of the few independent film and television studios, which Ahuja says has served it well. He said the television market is also picking back up” from library sales to the original scripted side. “We have more in development now than we have in years. That is the first indicator.”

Key Takeaways Intuitive Surgical's forward P/E has fallen to 30.26X, well below its 10-year median of 58.18X.ISRG posted 19% Q2 revenue growth, 28% adjusted EPS growth and 16% higher total procedures.da Vinci 5, SP and Ion adoption support growth, while U.S. moderation, China and costs remain risks. Intuitive Surgical (ISRG - Free Report) is trading at its cheapest valuation in the last 10 years following a decline of more than 40% after touching the $600 level in January this year. Its forward 12-month P/E of 30.26X is well below its 10-year median of 58.18X and high of 93.22X, although it remains above the Medical - Instruments industry’s 25.96X. The compression is notable given that ISRG continues to generate strong growth, but investors are increasingly factoring in moderating U.S. procedure trends, competitive pressure in China, higher costs and uncertainty around hospital capital spending. Its Value Score of D also indicates that the stock is not yet considered inexpensive despite the steep multiple contraction.

The latest quarter illustrates the disconnect between valuation and fundamentals. Second-quarter 2026 revenue increased 19% year over year to $2.89 billion, and adjusted EPS advanced 28%. Total procedures rose 16%, with da Vinci procedures increasing 15% and Ion procedures jumping 36%. Recurring revenue climbed 19% to $2.47 billion and represented 85% of total revenue. Utilization also remained healthy, increasing 3% for da Vinci and 11% for Ion.

Image Source: Zacks Investment Research

Forward Guidance Points to Durable Growth Despite ModerationManagement maintained its 2026 da Vinci procedure-growth forecast at 13.5-15.5%, expecting results toward the midpoint. General surgery in the United States and procedures outside urology internationally remain the principal growth drivers. Importantly, the outlook continues to reflect several near-term uncertainties, including changes in U.S. patient behavior following ACA premium-subsidy changes, China's tender volumes and competitive intensity, European capital pressures, Japan's recovery and the impact of obesity drugs.

There are encouraging developments beneath this guidance. International da Vinci procedures grew 20% in the second quarter, with Europe and Asia each advancing 20%, while the rest of the world increased 22%. This compares favorably with the first quarter, when international da Vinci procedures grew 19%. Japan also recorded improved system placements following favorable reimbursement decisions.

However, margin expansion is not guaranteed. Intuitive Surgical raised its 2026 adjusted gross-margin outlook to 68-69% from 67.5-68.5%, but continues to face higher freight and semiconductor-memory costs, faster growth of newer platforms and higher depreciation. Thus, the guidance supports continued growth but also indicates that investors should expect elevated spending and some profitability pressure during the platform transition.

Product Innovation Expands Long-Term OpportunityIntuitive Surgical's product pipeline provides a strong counterweight to near-term concerns. The company placed 468 da Vinci systems and 55 Ion systems in second quarter, while more than 1,700 da Vinci 5 systems are now installed. More than 100 planned da Vinci 5 updates are being rolled out, including improvements to telepresence, simulation-based training and care-team workflows.

The single-port platform is gaining traction rapidly, with SP procedures increasing 61% and its global installed base reaching 445 systems. Ion procedures rose 36% to 48,000 and have surpassed 400,000 cumulatively. The company is also progressing with ROSE and EBUS programs and has submitted a next-generation flexible robotic endoscope for FDA clearance.

These innovations strengthen ISRG's competitive position against lower-valued peers such as Medtronic (MDT - Free Report) and Stryker (SYK - Free Report) . MDT trades at 15.13X forward P/E, while SYK trades at 17.02X, both substantially below ISRG's 30.26X. Yet Medtronic's Hugo remains in an earlier commercialization phase, with management expecting more than 50,000 completed procedures by the end of its fiscal year, while Stryker's Mako has surpassed 2.5 million procedures globally across 47 countries.

Share-Price MovementISRG shares have declined 15% over the past three months against the Zacks Medical – Instruments industry's 10% growth. The broader Medical sector has jumped 9.6% during the same period, leaving Intuitive Surgical lagging both its industry and the wider medical sector.

While Medtronic shares have gained 15.1% in the past three months, Stryker declined 10.5%.

Image Source: Zacks Investment Research

Bottom LineISRG's valuation has clearly become more reasonable after the sharp share price decline, but the stock does not yet qualify as an outright bargain given its premium to the industry and D Value Score. The investment case rests on whether sustained procedure growth, da Vinci 5 adoption, higher utilization and expansion of SP and Ion can offset slower U.S. growth, China-related challenges, obesity-drug pressure and elevated costs.

For existing investors, the current risk-reward appears balanced enough to hold the stock rather than exit after the valuation reset. ISRG's current valuation makes the shares considerably cheaper than their historical valuation. However, prospective investors may want evidence of accelerating procedure growth and further margin improvement before committing aggressively. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

Broadcom and Marvell both crushed their AI quarters, but the real story is how one company's weakness quietly became the other's most powerful sales pitch.

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Marvell Technology (NASDAQ: MRVL | MRVL Price Prediction) and Broadcom (NASDAQ: AVGO) both delivered blowout AI quarters, yet they now sit on opposite ends of the custom silicon spectrum. Broadcom just posted $29.591B in revenue with AI chips alone at $16.7B. Marvell’s entire business came in at $2.739B. That size gap frames Marvell’s pitch as the focused alternative.

Two AI Beats, Very Different Scales Marvell’s Q2 FY27 revenue rose 36.5% year over year, with Data Center reaching 79% of the mix and growing 46%. CEO Matt Murphy said “AI-related bookings remain exceptionally robust” and lifted the FY27 and FY28 outlooks again. Non-GAAP operating margin reached 36.6%, closing in on the company’s 38% to 40% long-term target.

Broadcom’s report was a different animal. AI semiconductor revenue jumped 221% year over year, and Hock Tan guided Q4 AI revenue to $21.7B. He told investors Broadcom has secured supply to gain double AI revenue to approximately $115 billion in fiscal 2027 and $230 billion in 2028. No rival can casually match that scale.

Focused Specialist Versus Sprawling Platform Broadcom is really three businesses in one: custom XPUs for six hyperscale customers including Google, Anthropic, OpenAI, and Meta; Tomahawk Ethernet switching; and the VMware software stack, which added $8.752B in Q3. Tan is even helping finance customer buildouts through the AI XPV platform with Apollo and Blackstone.

Marvell is doing the opposite. Murphy’s pitch is speed and customization. The expanded Google agreement, which includes a warrant for up to 7% of Marvell’s shares tied to revenue milestones, spans inference accelerators, storage controllers, NICs, memory interface controllers, and near-memory compute. Layer in the Celestial AI and XConn acquisitions, and MRVL looks like the pure-play optical and custom silicon partner hyperscalers can lean on without feeding Broadcom’s leverage.

Lens Marvell Broadcom Core Bet Focused custom silicon plus optics End-to-end AI platform plus software Near-Term AI Scale Custom ramps in H2 FY27 $21.7B AI revenue guide Key Vulnerability Google concentration Supply and financing exposure Why October 6 Is the Real Test Marvell’s October 6, 2026 Investor Day is the catalyst worth circling. Murphy hinted at “significant upside bias” to the prior $10 billion kind of plus fiscal 2029 custom revenue target. I want to see how much of that comes from Google versus other hyperscalers, because customer concentration cuts both ways (we reverse-engineered what the biggest AI chip winners looked like early in a free playbook here).

Why I Like Marvell’s Setup More From Here Broadcom is the safer compounder. But at a $1.753T market cap versus Marvell’s $197.7B, an incremental billion of AI revenue moves the needle far less at AVGO. MRVL climbed 242.26% over the past year against AVGO’s 7.41%, and the anti-Broadcom narrative still has room to run if Custom doubles in FY28 as guided. If you want steady free cash flow and enterprise software optionality, Broadcom fits better. If Investor Day underwhelms, the VMware annuity could make AVGO the more defensible holding to revisit.

Contact [email protected] for any questions or corrections.

Rivian Automotive (RIVN +0.15%) has some big goals. It delivered 22,559 electric vehicles in the first half of 2026. To reach its full-year target, it must deliver another 42,400 to 47,400 vehicles in the second half.

This would require about 88% to 110% more deliveries than in the first half. Management also expects vehicle deliveries to be weighted toward the fourth quarter as R2 production ramps.

Let's see if Rivian can deliver.

Image source: Getty Images.

R2 needs a scale to become profitable Rivian began delivering the R2, an affordable mid-size SUV, to customers on June 9. However, R2 is currently hurting Rivian's profitability as production ramps. In Q2, Rivian recorded about $100 million of additional costs related to the launch. The company's automotive business posted a $36 million gross loss. Rivian expects higher R2 production and deliveries to help its automotive business reach positive gross profit by 2026's end.

Part of the $100 million in extra R2 costs is from temporary expenses such as faster shipping and higher payments to suppliers. Rivian expects costs to decline as production rises. Higher output should also help spread factory costs across more vehicles, improving profitability.

Rivian expects the cost of R2's materials and components to be about half that of R1, while other production costs should fall by more than 50%. This is based on Rivian's expected average vehicle costs at the end of 2027.

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The fourth quarter will be the real test for R2 Rivian's biggest near-term focus is getting suppliers ready for higher volumes. It started R2 production on one shift, while the second shift is not expected to add significant volume until the fourth quarter.

Rivian is also testing demand at the higher price end of the R2 lineup. The R2 Performance starts at $57,990, while the lower-priced $44,990 Standard model will not arrive until 2027.

The fourth quarter should show whether the R2 ramp is improving Rivian's economics. Deliveries need to rise sharply, but losses per vehicle also need to narrow. Otherwise, higher volumes alone will not make the ramp successful.

Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

SandboxAQ unveils hardware-agnostic AQNav software platform for rapid integration across defense systems

, /PRNewswire/ -- SandboxAQ announced it has successfully completed the world's first reported test of a magnetic navigation (MagNav) system on an attritable platform – Northrop Grumman's Lumberjack®, a Group 3 UAS attritable drone. It was also the world's first reported instance of a MagNav system being paired with a visual navigation system on an attritable, one-way attack platform. SandboxAQ has collaborated with Northrop Grumman (NYSE: NOC) to integrate and test its commercial, dual-use, AQNav MagNav technology on this unmanned aircraft system.

Northrop Grumman's Lumberjack® Conflicts in Ukraine and the Persian Gulf States prove small, expendable drones are now regularly operating in GPS-denied and spoofed environments. UAVs are a tool of war in these conflicts and militaries around the world are ramping up their stockpiles of drones. Northrop Grumman's Lumberjack, a one-way-attack drone, was designed and developed in under 14 months of its first flight. The versatility and modularity of this technology highlights Northrop Grumman's multi-use, loitering munition capabilities.

"Today's platforms need navigation systems they can trust as they operate in increasingly complex and contested environments. In collaboration with SandboxAQ, Northrop Grumman is aggressively enhancing our ecosystem of autonomous and unmanned systems with resilient and flight-hardened alternative navigation systems," said Max Schuster, program manager, Lumberjack, Northrop Grumman. "Pairing AQNav with Northrop Grumman's experience in unmanned aircraft and open mission systems will ensure our joint forces have an operationally validated navigation capability in even the most contested domains."

"AQNav's ability to provide unjammable navigation and positioning without GPS complements Northrop Grumman's efforts to fulfill the operational and mission-specific requirements for autonomous aircraft and shape the future of next generation unmanned platforms," said Luca Ferrara, General Manager of Navigation at SandboxAQ. "Leveraging our proven MagNav technologies and drone platform expertise, the flight test with Northrop Grumman further demonstrates the ease by which our AQNav software can be integrated into unmanned systems at the speed and scale required by leading defense organizations."

AQNav enables continuous positioning without reliance on satellite or other externally transmitted signals. Its passive, all-weather, and terrain-agnostic navigation can serve as a standalone capability or complement inertial, visual, and satellite navigation systems, advancing the future of alternative positioning, navigation and timing (Alt-PNT). In addition, AQNav's proven ability to operate over open water, feature-limited terrain, urban landscapes, and GPS-denied environments makes aircraft platforms more resilient and mission-capable.

AQNav's Software Expands Accessibility Across Platforms
Our AQNav software platform, demonstrated during the recent flight, extends the company's proven MagNav capabilities into a software-first architecture designed for rapid integration with current and future defense systems. This novel, hardware-agnostic offering processes sensor data in real-time, applies physics-based models to determine positioning and provides continuous navigation that can be easily incorporated into a broader PNT architecture.

The software is designed to run on existing onboard compute infrastructure with operationally relevant latency, reducing the need for additional processing hardware. It supports open architecture interfaces that simplify integration across platforms.

"AQNav now offers OEMs two distinct paths for deployment – a full-stack, performance-optimized solution that's built natively into your platform architecture, or a software-only solution developed specifically to deploy within existing architecture," said Ferrara. "With Northrop Grumman's Lumberjack, our engineers were able to install AQNav software into existing systems in less than an hour, giving the attritable platform MagNav capabilities for enhanced mission performance."

Proven Performance Across Defense and Commercial Applications
Since 2023, AQNav has been flight-tested by military, government, and commercial aerospace partners including Airbus and Boeing. SandboxAQ has worked closely with the United States Air Force to flight-test AQNav for more than three years, including testing aboard C-17 Globemaster III and C-130J Super Hercules transports and participating in three large-scale military exercises. AQNav was also selected to participate in the 2025 NATO DIANA cohort.

AQNav currently participates in the Defense Innovation Unit's (DIU) Transition of Quantum Sensing program (TQS), which tests MagNav technologies for military autonomous systems. Under that program, SandboxAQ integrated its AQNav software on a Group 3 unmanned aircraft platform and is evaluating its performance against defense-relevant use cases. The work with Northrop Grumman builds on those integration patterns and advances a shared objective of delivering scalable, resilient navigation for unmanned operations in GPS-contested environments.

About Lumberjack®
Northrop Grumman is the mission systems integrator, munitions and systems provider of many of the technologies that enable the aircraft to sense, detect and deter threats in the battlespace. ESAero Inc., a wholly owned subsidiary of AV Inc., provides the Lumberjack air vehicle and its systems integration.

About Northrop Grumman
Northrop Grumman (NYSE: NOC) is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our employees define possible every day.

About SandboxAQ
SandboxAQ is a B2B company delivering solutions at the intersection of AI and quantum techniques. The company's Large Quantitative Models (LQMs) deliver critical advances in life sciences, financial services, navigation, and other sectors. SandboxAQ is an independent, growth-backed company funded by leading investors and strategic partners including funds and accounts advised by T. Rowe Price Associates, Inc., Google, Alger, IQT, US Innovative Technology Fund, S32, Paladin Capital, BNP Paribas, Eric Schmidt, Breyer Capital, Ray Dalio, Marc Benioff, Thomas Tull, and others. For more information, visit www.sandboxaq.com.

SOURCE SandboxAQ

Gold near record highs rewards mine operators handsomely, but a quieter group of companies collects checks without touching a shovel, and their cash margins make conventional producers look inefficient by comparison. Five royalty and streaming names dominate the sector, and…

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Gold has ripped to fresh records, with spot bullion trading around $4,439 per ounce on last look. Yet the purest way to play the move is owning a slice of a mine rather than operating one. Royalty and streaming companies pay cash upfront to fund a project. In return, they collect either a percentage of the mine’s revenue (a royalty) or the right to buy a fixed share of production at a deeply discounted per-ounce price (a stream). The mine operator absorbs the diesel bills, labor strikes, and capex overruns. The royalty holder just cashes checks that get fatter as gold rises.

That structural leverage is why the average cash margin at these businesses runs above 80%, versus roughly 30% to 40% at conventional producers. With gold averaging $4,873 per ounce in Q1 2026 (+70% year over year), the model is compounding at a pace operators cannot match. Here are the five U.S.-listed pure-plays, ranked worst to first.

5. OR Royalties OR Royalties (NYSE:OR) is the smallest of the group at a $6.9 billion market cap. Q2 2026 revenue rose 62.0% year over year to $97.8 million, beating the $96.85 million consensus, and cash margin hit a sector-leading 96.8%. Management called Canadian Malartic “the crown jewel in our portfolio.” That is also the risk: two interests generate 54% to 58% of revenues, and a July 1 rock mass movement at the Barnat Open Pit will trim GEOs through 2028. Shares are up 5.4% over one year.

4. Triple Flag Precious Metals Triple Flag Precious Metals (NYSE:TFPM) posted Q2 revenue of $129.2 million (+37.3% year over year) and beat adjusted EPS by 19.71%, its 4th consecutive quarterly beat. Asset margin expanded to 94%. The $440 million Ravenswood gold stream in Queensland is the cornerstone addition, though production is not expected to scale toward 200,000 ounces annually until after 2028. The bull case is 242 streams and royalties and a raised 2030 outlook of 150,000 to 160,000 GEOs. The key risk is Ravenswood ramp execution and a step-down at Cerro Lindo from 65% to 25%.

3. Royal Gold Royal Gold (NASDAQ:RGLD | RGLD Price Prediction) is being reshaped by the October 2025 acquisition of Sandstorm and Horizon Copper. Q2 revenue reached $451 million with operating cash flow of $335 million. Gold contributed 76% of revenue, and adjusted EBITDA margin hit 83%. Royal Gold reduced its Hod Maden equity from 30% to 15% in exchange for additional royalty interest. The 2026 dividend of $1.90 marks the 25th consecutive annual increase. However, Q1 revenue and EPS narrowly missed consensus, and integration risk from Sandstorm remains.

2. Franco-Nevada Franco-Nevada (NYSE:FNV) invented the model. Q1 2026 revenue climbed 76.6% year over year to $650.7 million, beating consensus by 2.43%, while adjusted EPS of $2.38 topped estimates by 14.20%. The company remains debt-free with $4.3 billion of available capital as of June 30. CFO Sandip Rana noted, “no one asset generated more than 10% of revenue as we have one of the most diverse portfolios in the industry.” The dividend was raised 16% to $0.44 per quarter, the 19th straight annual bump. Shares are up 33.9% over one year. The risk here is that the Cobre Panamá restart still depends on Panamanian government approval.

1. Wheaton Precious Metals Wheaton Precious Metals (NYSE:WPM) sits atop the sector at a $70.4 billion market cap. Q1 revenue surged 91.6% year on year to $901.5 million, beating consensus by 4.25%. Gross margin expanded to 78% from 68%, and cash operating margin per GEO reached $4,279, up 103% year over year. In April, Wheaton closed what management called “the largest precious metals streaming transaction ever completed.” A $4.3 billion upfront payment to BHP for an incremental 33.75% of Antamina silver doubled its entitlement to 67.5%. Q2 revenue then hit $929 million (+85% year on year) with operating cash flow of $650 million. The dividend was hiked 18% to $0.195 per quarter. Shares have advanced 42.3% over one year and 467.9% over the past decade. The 2030 target of roughly 1.2 million GEOs anchors an organic 50% growth profile. However, the Antamina economics were struck at higher silver prices, and mine sequencing dictates near-term deliveries.

Why the Model Wins This Cycle The premise held. Skipping the mine means skipping the cost inflation, and every one of these five converted rising bullion into outsized margin expansion this year. Wheaton takes the crown on scale, deal size, and cash generation, but the sector-wide takeaway is simpler: at above-80% cash margins with dividend streaks stretching back decades, royalty and streaming names are structurally built to translate $4,439 gold into shareholder cash. Investors should still respect the trade-off. These businesses depend entirely on operators actually digging; they carry premium multiples, and a sharp reversal in gold would flow through just as quickly on the way down.

Contact [email protected] for any questions or corrections.

, /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, announces the launch of Morpheus8 Cool, the next evolution of its renowned Morpheus8 technology. Available exclusively on the new expandable Morpheus8MAX platform, Morpheus8 Cool advances radiofrequency (RF) microneedling with enhanced comfort, precision, control, and safety.

Recognized as the world's #1 RF microneedling procedure, Morpheus8 is establishing a new industry standard with Morpheus8 Cool. The new handpiece and large-surface cooling tip feature game-changing Cool Comfort Technology, intelligently managing the thermal profile to elevate the treatment experience.  Morpheus8 Cool also features a new interactive user interface for enhanced control and safety.  Practitioners can select Guided Mode, with preset, clinically effective parameters that support consistent, repeatable outcomes, or Manual Mode for fully customizable settings.

"Developed in response to feedback from our providers, Guided Mode within the Morpheus8MAX platform offers greater versatility across their practices," said Dr. Michael Kreindel, InMode Chief Technology Officer and co-founder. "Its intuitive design gives practitioners greater flexibility to tailor treatments to each patient's skin concerns and anatomy while delivering the remarkable results patients and providers have come to expect from Morpheus8."

"Morpheus8 Cool addresses an important challenge in aesthetics: how to make a proven, successful technology even better," said Dr. Eran Krieger, Chief Medical Officer at InMode. "By cooling the skin's surface while treating the targeted tissue, we preserve the remodeling effect without compromising treatment. We are not changing the treatment—we are elevating the patient experience."

"The excitement surrounding Morpheus8 Cool was undeniable when we introduced it at our Insider Summit in Las Vegas," said Michael Dennison, InMode President, North America. "Providers immediately recognized the value of greater comfort, precision, and control, and the enthusiastic response reinforced the strong demand for this next evolution of Morpheus8 technology."

About InMode 

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radiofrequency ("RF") technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode and its wide array of medical technologies, visit www.inmodemd.com.

Press Contact:
Behrman Cesa Communications
[email protected]

Investor Contact:
MS-IR LLC
Miri Segal – Scharia
[email protected]

SOURCE InMode Ltd.

LOS ANGELES, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Integer Holdings Corporation (“Integer” or “the Company”) (NYSE: ITGR) for potential breaches of fiduciary duty on the part of its directors and management.

INVESTIGATION DETAILS: The investigation focuses on determining if the Integer board breached its fiduciary duties to shareholders. The Company announced on August 3, 2026, that it would be acquired by KKR at a price of $127 per share.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]

WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

Schall, Brown & Schwartz LLP
Brian Schall, Esq.,
Andrew Brown, Esq.,
David Schwartz, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 Schall, Brown & Schwartz LLP

AI Call Summaries handle the note-taking so care center teammates can focus on clients, resolving needs faster and delivering more personalized service.

, /PRNewswire/ -- Truist Financial Corp. (NYSE: TFC) today announced the full deployment of AI Call Summaries across its care centers, using generative AI to automatically convert client conversations into concise, structured summaries within seconds. By handling the note-taking and post-call documentation automatically, the technology frees care center teammates to stay fully present with clients, resolve needs faster and deliver more personalized, informed service on every call.

Truist has fully deployed AI Call Summaries across its care centers. Since its implementation in the third quarter of 2025, the capability has scaled rapidly, generating more than 4.5 million summaries, in the second quarter of 2026 alone, and supporting more than 70% of care center inbound client interactions. The average Truist care center phone call lasts more than eight minutes, making the ability to quickly capture key themes, client needs and resolution outcomes particularly valuable. Based on average time savings of approximately 30 seconds per call, AI Call Summaries saved teammates more than 36,000 hours in the second quarter of 2026.

"At Truist, listening to clients is central to how we improve the experience across the client journey," said Truist Head of Digital, Client Experience, and Marketing Sherry Graziano. "By using AI-powered capabilities, we can consolidate feedback, organize insights and get answers to clients more efficiently. This is a great example of being digitally empowered yet deeply relational, equipping teammates with the tools they need to serve our clients with greater care."

Across Truist Care Centers, AI Call Summaries help teammates access key information from prior interactions and prepare for follow-up conversations. "Deploying generative AI-powered call summaries across our care centers is a meaningful step forward in how we support our teammates and serve our clients," said Truist Head of Truist Care Centers Kimberly Dorsett. "Instead of manually capturing conversation details, teammates can use AI-generated summaries to quickly understand and respond to clients with greater confidence."

AI Call Summaries represent a foundational step in Truist's broader strategy to embed AI into everyday workflows, improve the client experience and reimagine how work gets done across the organization. As one of Truist's earliest enterprise-scale generative AI applications approved for broad use, the capability reflects the bank's commitment to scaling AI responsibly. Truist plans to extend the capability to additional areas of the bank, demonstrating how targeted AI use cases can deliver immediate value while creating a foundation for greater operational consistency, institutional knowledge capture and better decision-making across the organization."

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top 10 commercial bank with $549 billion as of March 31, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.

SOURCE Truist Financial Corporation

AeroVironment, Inc. (NASDAQ:AVAV) will release its first earnings report after the closing bell on Wednesday, Sept. 9.

Analysts expect the Arlington, Virginia-based company to report quarterly earnings of 25 cents per share, down from 32 cents per share in the year-ago period. The consensus estimate for AeroVironment’s quarterly revenue is $456.09 million. It reported $454.68 million last year, according to Benzinga Pro.

On Sept. 2, the company won a $464.8 million contract from the U.S. Army Portfolio Acquisition Executive for Fires program office for the Enduring-High Energy Laser (E-HEL) program.

AeroVironment shares gained 2.9% to close at $148.78 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Raymond James analyst Brian Gesuale upgraded the stock from Market Perform to Outperform with a price target of $210 on July 16, 2026. This analyst has an accuracy rate of 73%. Citizens analyst Trevor Walsh maintained a Market Outperform rating and cut the price target from $350 to $230 on July 10, 2026. This analyst has an accuracy rate of 84%. Piper Sandler analyst Clarke Jeffries maintained an Overweight rating and cut the price target from $248 to $235 on July 9, 2026. This analyst has an accuracy rate of 51%. RBC Capital analyst Ken Herbert downgraded the stock from Outperform to Sector Perform and slashed the price target from $210 to $180 on July 9, 2026. This analyst has an accuracy rate of 75%. BTIG analyst Andre Madrid maintained a Buy rating with a price target of $205 on July 9, 2026. This analyst has an accuracy rate of 54%. Trending

Considering buying AVAV stock? Here’s what analysts think:

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New agreement brings MPS power management solutions to GF’s Singapore fab for volume production in 2027  | Source: GlobalFoundries Inc.

MALTA, N.Y. and SCHAFFHAUSEN, Switzerland, Sept. 09, 2026 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) and Monolithic Power Systems, Inc. (Nasdaq: MPWR) (MPS), a leading company in high-performance power solutions, today announced a long-term manufacturing agreement that will deploy MPS’s proprietary process technology to GF’s advanced 300mm manufacturing facility in Singapore. The collaboration will enable GF and MPS to expand manufacturing capacity of critical power management solutions for high-growth markets in early 2027.

MPS’s innovative proprietary process technologies deliver high-performance, ultra-efficient power management solutions for a wide variety of applications in data center, automotive, consumer and industrial markets. Products manufactured at GF’s Singapore facility are expected to include next-generation power solutions for automotive architectures, industrial robotics and automation, and smart power stages for AI and cloud infrastructure. Combining MPS’s technology with GF’s manufacturing expertise will support the next phase of growth for both companies while providing customers with greater capacity, supply assurance and global scale.

“Integrating MPS innovation with GF’s manufacturing scale allows us to extend reach in high-growth electrification and AI markets with improved supply assurance,” said Deming Xiao, EVP of global operations at MPS. “Together, we will deliver global scale with local support, and uncompromising power performance.”

“This long-term agreement reflects the strength of GF’s manufacturing platform and our ability to support customers as they scale innovative technologies into high-volume production,” said Pradip Singh, chief manufacturing officer at GF. “Together, we will deliver high-performance power solutions that help meet the growing demands of automotive, industrial, and data center applications where performance and reliability define competitive advantage.”

About GF
GlobalFoundries (GF) is a leading manufacturer of essential semiconductors, enabling AI at scale from the cloud to the physical world. Through deep partnerships with customers, GF delivers differentiated, power-efficient and high-performance solutions for automotive, aerospace and defense, data center, smart mobile devices, internet of things and other high-growth markets. With global manufacturing operations across the U.S., Europe and Asia, GF is a trusted and holistic technology partner for customers around the world. GF’s talented, global team remains focused every day on security, longevity and sustainability. For more information, visit www.gf.com. 

About Monolithic Power Systems
Monolithic Power Systems, Inc. (“MPS”) is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. MPS’s mission is to reduce energy and material consumption to improve all aspects of quality of life. Founded in 1997 by CEO Michael Hsing, MPS has three core strengths: deep system-level knowledge, strong semiconductor expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable MPS to deliver reliable, compact, and monolithic solutions that are highly energy-efficient, cost-effective, and environmentally responsible while providing a consistent return on investment to stockholders. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

Forward-looking information
This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Media contacts:
Stephanie Gonzalez
[email protected]

Tony Balow
[email protected]

SEATTLE, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) today announced that it has partnered with Etsy (NYSE: ETSY) to be an additional payment provider on Etsy Payments, Etsy’s payments platform, in 15 countries. The partnership marks the next step in Remitly’s expansion beyond serving millions of individual customers into powering payments for small and medium businesses worldwide.

Starting this fall, new international sellers opening an Etsy shop in select countries will have the option to choose Remitly as their payout provider during onboarding.

For Etsy's global community of creative entrepreneurs, getting paid reliably and on time is critical. “Etsy Payments enables sellers around the world to access secure and flexible payments solutions,” said Megan Oxman, Senior Director of Product at Etsy. “Adding Remity’s payments platform as an option in Etsy Payments will give many sellers another dependable way to get paid, through the local banks and wallets they already use.”

When receiving their payout with Remitly, Etsy sellers can hold their earnings in USD and convert to their local currencies on their own terms, depositing income straight to their bank accounts or mobile wallets.

“Etsy is Remitly’s first marketplace partner and a model for what's ahead: taking the payment network that millions of receivers already trust and putting it to work for businesses,” said Ankur Tiwari, VP and General Manager of Remitly Business.

About Remitly (NASDAQ: RELY)

Remitly is a trusted provider of financial services that transcend borders. With a global footprint spanning more than 175 countries, Remitly has built one of the world’s leading global money movement platforms, trusted by millions of customers. Remitly continues to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across the globe.

Media Inquiries:
[email protected]
Investor Relations:
[email protected]

LOS ANGELES--(BUSINESS WIRE)--Korn Ferry (NYSE: KFY), a global consulting firm, today announced first quarter fee revenue of $756.5 million. In addition, first quarter diluted earnings per share was $1.32 and adjusted diluted earnings per share was $1.43.

“I am very pleased with our quarterly performance. This marks our sixth consecutive quarter of top-line growth, demonstrating the momentum and durability of our business, as well as the sustaining value we are creating for our clients,” said Gary D. Burnison, CEO, Korn Ferry. “With AMS now part of Korn Ferry, we have brought together two iconic brands to create a global leader in talent and organizational consulting. AMS is a world-class firm that complements and meaningfully expands our Workforce Solutions and propels our We Are Korn Ferry strategy—to be the world’s conductor of talent and organizational orchestration.

“AMS brings profound operational capability, delivering technology-enabled talent solutions at scale, supported by long-term contracted client relationships. And at the heart of this combination is a belief that defines Korn Ferry: people are the catalyst for organizational success. I could not be more excited about our future.”

Selected Financial Results

(dollars in millions, except per share amounts) (a)

  First Quarter

FY’27

FY’26

Fee revenue

$

756.5

$

708.6

Total revenue

$

764.6

$

715.5

Estimated remaining fees under existing contracts (b)

$

1,915.0

$

1,674.1

New business (c)

$

832.3

$

742.2

Fee earner new business productivity (d) - in thousands

$

1,840

$

1,610

Ending number of fee earners (e)

1,811

1,830

Net income attributable to Korn Ferry

$

69.0

$

66.6

Net income attributable to Korn Ferry margin

9.1

%

9.4

%

Basic earnings per share

$

1.35

$

1.28

Diluted earnings per share

$

1.32

$

1.26

Adjusted Results (f):

First Quarter

FY’27

FY’26

Adjusted EBITDA

$

128.2

$

120.4

Adjusted EBITDA margin

17.0

%

17.0

%

Adjusted net income attributable to Korn Ferry (g)

$

74.6

$

69.2

Adjusted basic earnings per share (g)

$

1.46

$

1.33

Adjusted diluted earnings per share (g)

$

1.43

$

1.31

____________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Estimated value of an engagement awarded in the period evidenced by a signed contract.

(d)

New business divided by average number of fee earners in the period annualized.

(e)

Represents number of employees originating services.

(f)

Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs, when applicable. Adjusted results on a consolidated basis are non-GAAP financial measures that adjust for the following, as applicable (see attached reconciliations):

First Quarter

FY’27

FY’26

Integration/acquisition costs

$

7.6

$

1.5

First Quarter

FY’27

FY’26

Accelerated depreciation on digital technology platform

$

—

$

2.0

Tax effect on the adjusted items

$

(1.9

)

$

(0.9

)

The Company reported fee revenue in Q1 FY'27 of $756.5 million, an increase of 7% year-over-year at both actual and constant currency. Fee revenue grew in all Regions year-over-year, led by double digit growth in Search and Workforce Solutions.

Net income attributable to Korn Ferry was $69.0 million with a margin of 9.1% in Q1 FY'27, compared to net income attributable to Korn Ferry of $66.6 million with a margin of 9.4% in Q1 FY'26. Adjusted EBITDA was $128.2 million in Q1 FY'27 compared to $120.4 million in Q1 FY'26. Adjusted EBITDA margin in the quarter was 17.0%, flat year-over-year. Net income attributable to Korn Ferry and Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and general and administrative expenses.

Results by Region

Selected Americas Data

(dollars in millions) (a)

  First Quarter

FY’27

FY’26

Fee revenue

$

442.1

$

404.1

Total revenue

$

447.6

$

408.5

Estimated remaining fees under existing contracts (b)

$

1,042.1

$

875.1

New business (c)

$

465.7

$

404.1

Fee earner new business productivity (d) - in thousands

$

1,920

$

1,630

Ending number of fee earners (e)

971

973

Adjusted Results (f):

First Quarter

FY’27

FY’26

Adjusted EBITDA

$

116.4

$

100.7

Adjusted EBITDA margin

26.3

%

24.9

%

___________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Estimated value of an engagement awarded in the period evidenced by a signed contract.

(d)

New business divided by average number of fee earners in the period annualized.

(e)

Represents number of employees originating services.

(f)

Adjusted results exclude the following:

First Quarter

FY’27

FY’26

Integration/acquisition costs

$

—

$

0.7

Fee revenue was $442.1 million in Q1 FY'27 compared to $404.1 million in Q1 FY'26, an increase of $38.0 million or 9% year-over-year at both actual and constant currency. The fee revenue increase was primarily driven by increases of 14% in both Search and Workforce Solutions.

Adjusted EBITDA was $116.4 million in Q1 FY'27 compared to $100.7 million in the year-ago quarter. Adjusted EBITDA margin in the quarter increased year-over-year by 140bps to 26.3%. Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.

Selected EMEA Data

(dollars in millions) (a)

  First Quarter

FY’27

FY’26

Fee revenue

$

227.7

$

219.0

Total revenue

$

229.6

$

220.9

Estimated remaining fees under existing contracts (b)

$

646.9

$

572.5

New business (c)

$

251.7

$

227.3

Fee earner new business productivity (d) - in thousands

$

1,790

$

1,580

Ending number of fee earners (e)

556

578

Adjusted Results (f):

First Quarter

FY’27

FY’26

Adjusted EBITDA

$

37.3

$

35.7

Adjusted EBITDA margin

16.4

%

16.3

%

___________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Estimated value of an engagement awarded in the period evidenced by a signed contract.

(d)

New business divided by average number of fee earners in the period annualized.

(e)

Represents number of employees originating services.

(f)

Adjusted results exclude the following:

First Quarter

FY’27

FY’26

Integration/acquisition costs

$

—

$

0.8

Fee revenue was $227.7 million in Q1 FY'27 compared to $219.0 million in Q1 FY'26, an increase of $8.7 million or 4% year-over-year at both actual and constant currency. Fee revenue increased in all Solution groups, led by Workforce Solutions and Talent & Organizational Solutions up 8% and 4%, respectively.

Adjusted EBITDA was $37.3 million in Q1 FY'27, compared to $35.7 million in the year-ago quarter. Adjusted EBITDA increased primarily due to an increase in fee revenue, partially offset by increases in compensation and benefits expenses and cost of services.

Selected APAC Data

(dollars in millions) (a)

  First Quarter

FY’27

FY’26

Fee revenue

$

86.7

$

85.5

Total revenue

$

87.5

$

86.2

Estimated remaining fees under existing contracts (b)

$

226.0

$

226.6

New business (c)

$

114.9

$

110.7

Fee earner new business productivity (d) - in thousands

$

1,620

$

1,570

Ending number of fee earners (e)

284

279

Adjusted Results:

First Quarter

FY’27

FY’26

Adjusted EBITDA

$

19.2

$

19.8

Adjusted EBITDA margin

22.2

%

23.1

%

___________________ (a)

Numbers may not total due to rounding.

(b)

Estimated fee revenue associated with signed contracts for which revenue has not yet been recognized.

(c)

Estimated value of an engagement awarded in the period evidenced by a signed contract.

(d)

New business divided by average number of fee earners in the period annualized.

(e)

Represents number of employees originating services.

Fee revenue was $86.7 million in Q1 FY'27 compared to $85.5 million in Q1 FY'26, an increase of $1.2 million or 1% (up 2% at constant currency). Fee revenue increased primarily driven by a 7% increase in Search, offset by a decline in the other Solution Groups.

Adjusted EBITDA was $19.2 million in Q1 FY'27 compared to $19.8 million in the year-ago quarter.

Outlook

Assuming no further changes in worldwide geopolitical conditions, economic conditions, financial markets and foreign exchange rates, and including the addition of AMS for September and October, on a consolidated basis:

Q2 FY’27 fee revenue is expected to be in the range of $860 million and $878 million; Q2 FY'27 adjusted EBITDA margin is expected to range from 16.8% to 17.2%; and Q2 FY’27 adjusted diluted earnings per share is expected to be in the range from $1.30 to $1.40. Adjusted diluted earnings per share includes the net after tax impact of two months of incremental intangible asset amortization, incremental net interest expense and incremental shares issued in connection with the acquisition of AMS which closed on September 1, 2026.

Consolidated adjusted EBITDA margin and consolidated adjusted diluted earnings per share are non-GAAP financial measures. The Company is not providing an outlook for consolidated net income attributable to Korn Ferry margin or consolidated diluted earnings per share, the most directly comparable GAAP measures, or a quantitative reconciliation of those GAAP measures to the corresponding non-GAAP measures. The information necessary to present those GAAP measures on a forward-looking basis is not accessible without unreasonable efforts, because the Company is not able to estimate with reasonable certainty the integration and acquisition costs it will incur in connection with the AMS acquisition during the second quarter of fiscal 2027.

Earnings Conference Call Webcast

The earnings conference call will be held today at 12:00 PM (EDT) and hosted by CEO Gary Burnison, CFO Robert Rozek, SVP Business Development & Analytics Gregg Kvochak and VP Investor Relations Tiffany Louder. The conference call will be webcast and available online at ir.kornferry.com. We will also post to the investor relations section of our website earnings slides, which will accompany our webcast, and other important information, and encourage you to review the information that we make available on our website.

About Korn Ferry

Korn Ferry is a global consulting firm that powers performance. We unlock the potential in your people and unleash transformation across your business—synchronizing strategy, operations, and talent to accelerate performance, fuel growth, and inspire a legacy of change. That’s why the world’s most forward-thinking companies across every major industry turn to us—for a shared commitment to lasting impact and the bold ambition to Be More Than.

Forward-Looking Statements

Statements in this press release and our conference call that relate to our outlook, projections, goals, strategies, future plans and expectations, including statements relating to expected labor market conditions, expected demand for and relevance of our products and services, expected results of our business diversification strategy, expected benefits and synergies from the AMS acquisition, impact of global events on our business, and other statements of future events or conditions are forward-looking statements that involve a number of risks and uncertainties. Words such as “believes”, “expects”, “anticipates”, “goals”, “estimates”, “guidance”, “may”, “should”, “could”, “will” or “likely”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Such statements are based on current expectations; actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn Ferry. The potential risks and uncertainties include those relating to global and local political and or economic developments in or affecting countries where we have operations, such as inflation, trade wars, interest rates, labor market conditions, global slowdowns, or recessions, competition, geopolitical tensions, including the recent Middle East conflict, shifts in global trade patterns, changes in demand for our services as a result of automation, dependence on and costs of attracting and retaining qualified and experienced consultants, impact of inflationary pressures on our profitability, our ability to maintain relationships with customers and suppliers and retaining key employees, maintaining our brand name and professional reputation, our ability to successfully integrate acquired businesses, including the operations and employees of AMS, our ability to recognize the anticipate benefits of the acquisition of AMS which may be affected by, among other things, competition, our ability to grow and manage growth profitably, our ability to maintain relationships with customers and suppliers and retain key employees, costs related to the AMS acquisition, potential legal liability and regulatory developments, portability of client relationships, consolidation of or within the industries we serve, changes and developments in government laws and regulations, evolving investor and customer expectations with regard to corporate responsibility matters, currency fluctuations in our international operations, risks related to growth, alignment of our cost structure, including as a result of recent workforce, real estate, and other restructuring initiatives, restrictions imposed by off-limits agreements, reliance on information processing systems, cyber security vulnerabilities or events, changes to data security, data privacy, and data protection laws, dependence on third parties for the execution of critical functions, limited protection of our intellectual property, our ability to enhance, develop and respond to new technology, including artificial intelligence, our ability to successfully recover from a disaster or other business continuity problems, employment liability risk, an impairment in the carrying value of goodwill and other intangible assets, treaties, or regulations on our business and our Company, deferred tax assets that we may not be able to use, our ability to develop new products and services, changes in our accounting estimates and assumptions, the utilization and billing rates of our consultants, seasonality, the use of social media platforms, the ability to effect acquisitions, resulting organizational changes, our indebtedness, and those relating to the ultimate magnitude and duration of any pandemic or outbreaks. For a detailed description of risks and uncertainties that could cause differences from our expectations, please refer to Korn Ferry’s periodic filings with the Securities and Exchange Commission. Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). In particular, it includes:

Adjusted net income attributable to Korn Ferry, adjusted to exclude accelerated depreciation on our digital technology platform and integration/acquisition costs, net of income tax effect; Adjusted basic and diluted earnings per share, adjusted to exclude cost associated with accelerated depreciation on our digital technology platform and integration/acquisition costs, net of income tax effect; Constant currency (calculated using a quarterly average) percentages that represent the percentage change that would have resulted had exchange rates in the prior period been the same as those in effect in the current period; and Consolidated Adjusted EBITDA, which is earnings before interest, taxes, depreciation and amortization, further adjusted to exclude integration/acquisition costs when applicable, and Consolidated Adjusted EBITDA margin. This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Management believes the presentation of non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn Ferry’s performance by excluding certain charges that may not be indicative of Korn Ferry’s ongoing operating results. These non-GAAP financial measures are performance measures and are not indicative of the liquidity of Korn Ferry. These charges, which are described in the footnotes in the attached reconciliations, represent 1) accelerated depreciation associated with the decision to sunset our digital technology platform and 2) costs associated with acquisitions, such as legal and professional fees, retention awards and on-going integration expenses. The use of non-GAAP financial measures facilitates comparisons to Korn Ferry’s historical performance. Korn Ferry includes non-GAAP financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of Korn Ferry’s ongoing operations and financial and operational decision-making. Adjusted net income attributable to Korn Ferry, adjusted basic and diluted earnings per share and Consolidated Adjusted EBITDA, exclude certain charges that management does not consider on-going in nature and allows management and investors to make more meaningful period-to-period comparisons of the Company’s operating results. Management further believes that Consolidated Adjusted EBITDA is useful to investors because it is frequently used by investors and other interested parties to measure operating performance among companies with different capital structures, effective tax rates and tax attributes and capitalized asset values, all of which can vary substantially from company to company. In the case of constant currency percentages, management believes the presentation of such information provides useful supplemental information regarding Korn Ferry's performance as excluding the impact of exchange rate changes on Korn Ferry's financial performance allows investors to make more meaningful period-to-period comparisons of the Company’s operating results, to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn Ferry's ongoing operations and financial and operational decision-making.

  KORN FERRY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

  Three Months Ended

July 31,

2026

2025

(unaudited)

Fee revenue

$

756,496

$

708,613

Reimbursed out-of-pocket engagement expenses

8,126

6,930

Total revenue

764,622

715,543

Compensation and benefits

477,362

461,411

General and administrative expenses

80,231

63,874

Reimbursed expenses

8,126

6,930

Cost of services

83,328

77,194

Depreciation and amortization

22,195

22,686

Total operating expenses

671,242

632,095

Operating income

93,380

83,448

Other income, net

5,107

12,752

Interest expense, net

(4,342

)

(3,516

)

Income before provision for income taxes

94,145

92,684

Income tax provision

24,648

25,250

Net income

69,497

67,434

Net income attributable to noncontrolling interest

(530

)

(798

)

Net income attributable to Korn Ferry

$

68,967

$

66,636

Earnings per common share attributable to Korn Ferry:

Basic

$

1.35

$

1.28

Diluted

$

1.32

$

1.26

Weighted-average common shares outstanding:

Basic

50,351

51,466

Diluted

51,347

52,368

  KORN FERRY AND SUBSIDIARIES

FINANCIAL SUMMARY BY REPORTING SEGMENT

(dollars in thousands)

(unaudited)

  Three Months Ended July 31,

2026

2025

% Change

Fee revenue:

AMERICAS

Search

$

209,325

$

183,723

13.9

%

Talent & Organizational Solutions

106,853

110,061

(2.9

%)

Workforce Solutions

125,951

110,351

14.1

%

Total Americas

442,129

404,135

9.4

%

EMEA

Search

66,836

65,499

2.0

%

Talent & Organizational Solutions

115,366

111,415

3.5

%

Workforce Solutions

45,468

42,041

8.2

%

Total EMEA

227,670

218,955

4.0

%

APAC

Search

31,737

29,702

6.9

%

Talent & Organizational Solutions

37,001

37,684

(1.8

%)

Workforce Solutions

17,959

18,137

(1.0

%)

Total APAC

86,697

85,523

1.4

%

Total fee revenue

756,496

708,613

6.8

%

Reimbursed out-of-pocket engagement expenses

8,126

6,930

17.3

%

Total revenue

$

764,622

$

715,543

6.9

%

Fee revenue by Solution Group:

Search

$

307,898

$

278,924

10.4

%

Talent & Organizational Solutions

259,220

259,160

—

%

Workforce Solutions

189,378

170,529

11.1

%

Total fee revenue

$

756,496

$

708,613

6.8

%

  KORN FERRY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

  July 31,
2026

April 30,

2026 (1)

(unaudited)

ASSETS

Cash and cash equivalents

$

800,852

$

1,095,445

Marketable securities

15,439

38,914

Receivables due from clients, net of allowance for doubtful accounts of $44,591 and $42,527 at July 31, 2026 and April 30, 2026, respectively

615,274

573,350

Income taxes and other receivables

68,265

75,410

Unearned compensation

67,215

64,421

Prepaid expenses and other assets

71,923

58,437

Total current assets

1,638,968

1,905,977

Marketable securities, non-current

234,778

247,132

Property and equipment, net

193,676

191,531

Operating lease right-of-use assets, net

170,191

170,986

Cash surrender value of company-owned life insurance policies, net of loans

304,906

289,058

Deferred income taxes

118,383

113,207

Goodwill

945,837

950,636

Intangible assets, net

39,754

45,858

Unearned compensation, non-current

140,457

118,592

Investments and other assets

29,926

31,799

Total assets

$

3,816,876

$

4,064,776

LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable

$

50,316

$

49,682

Income taxes payable

18,718

19,573

Compensation and benefits payable

299,408

570,242

Operating lease liability, current

30,621

28,111

Other accrued liabilities

292,154

314,402

Total current liabilities

691,217

982,010

Deferred compensation and other retirement plans

531,991

510,774

Operating lease liability, non-current

163,701

164,899

Long-term debt

398,778

398,565

Deferred tax liabilities

6,607

5,723

Other liabilities

23,305

23,902

Total liabilities

1,815,599

2,085,873

Stockholders' equity

Common stock: $0.01 par value, 150,000 shares authorized, 80,165 and 79,203 shares issued and 50,790 and 50,225 shares outstanding at July 31, 2026 and April 30, 2026, respectively

276,212

284,370

Retained earnings

1,799,808

1,761,063

Accumulated other comprehensive loss, net

(81,633

)

(72,827

)

Total Korn Ferry stockholders' equity

1,994,387

1,972,606

Noncontrolling interest

6,890

6,297

Total stockholders' equity

2,001,277

1,978,903

Total liabilities and stockholders' equity

$

3,816,876

$

4,064,776

  (1) information is derived from audited financial statements included in our most recently filed Form 10-K.

KORN FERRY AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(dollars in thousands)

(unaudited)

  Three Months Ended

2026

2025

Net income attributable to Korn Ferry

$

68,967

$

66,636

Net income attributable to non-controlling interest

530

798

Net income

69,497

67,434

Income tax provision

24,648

25,250

Income before provision for income taxes

94,145

92,684

Interest expense, net

4,342

3,516

Depreciation and amortization (1)

22,195

22,686

Integration/acquisition costs (2)

7,554

1,508

Adjusted EBITDA

$

128,236

$

120,394

Net income attributable to Korn Ferry margin

9.1

%

9.4

%

Net income attributable to non-controlling interest

0.1

%

0.1

%

Income tax provision

3.3

%

3.6

%

Interest expense, net

0.6

%

0.5

%

Depreciation and amortization (1)

2.9

%

3.2

%

Integration/acquisition costs (2)

1.0

%

0.2

%

Adjusted EBITDA margin

17.0

%

17.0

%

Net income attributable to Korn Ferry

$

68,967

$

66,636

Accelerated depreciation on digital technology platform (1)

—

1,977

Integration/acquisition costs (2)

7,554

1,508

Tax effect on the adjusted items (3)

(1,897

)

(883

)

Adjusted net income attributable to Korn Ferry

$

74,624

$

69,238

Basic earnings per common share

$

1.35

$

1.28

Accelerated depreciation on digital technology platform (1)

—

0.04

Integration/acquisition costs (2)

0.15

0.03

Tax effect on the adjusted items (3)

(0.04

)

(0.02

)

Adjusted basic earnings per share

$

1.46

$

1.33

Diluted earnings per common share

$

1.32

$

1.26

Accelerated depreciation on digital technology platform (1)

—

0.04

Integration/acquisition costs (2)

0.15

0.03

Tax effect on the adjusted items (3)

(0.04

)

(0.02

)

Adjusted diluted earnings per share

$

1.43

$

1.31

KORN FERRY AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - CONTINUED

(dollars in thousands)

(unaudited)

  Three Months Ended July 31,

2026

2025

Net income
attributable
to
Korn Ferry

Net income
attributable
to
Korn Ferry
margin

Net income
attributable
to
Korn Ferry

Net income
attributable
to
Korn Ferry
margin

Consolidated

$

68,967

9.1

%

$

66,636

9.4

%

Fee
revenue

Total
revenue

Adjusted
EBITDA

Adjusted
EBITDA
margin

Fee
revenue

Total
revenue

Adjusted
EBITDA

Adjusted
EBITDA
margin

Americas

$

442,129

$

447,550

$

116,419

26.3

%

$

404,135

$

408,462

$

100,747

24.9

%

EMEA

227,670

229,580

37,280

16.4

%

218,955

220,875

35,727

16.3

%

APAC

86,697

87,492

19,219

22.2

%

85,523

86,206

19,769

23.1

%

Corporate

—

—

(44,682

)

—

—

(35,849

)

Consolidated

$

756,496

$

764,622

$

128,236

17.0

%

$

708,613

$

715,543

$

120,394

17.0

%