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Rollercoaster. That's probably the most accurate word to describe SpaceX's opening two weeks as a public company. 

The stock surged for several successive days following a record-breaking IPO, briefly overtaking both Amazon and Microsoft in terms of market cap and rising more than 60% on the initial share offering price of $135.

But the good times weren't set to last. Daily drops of 5% and 4% were followed by a 16% slump as jitters crept into the market. Steadier days followed, with single point moves in either direction.

The volatility underscores the whipsaw nature of a story-driven stock.

Lofty sci-fi ambitions, huge coverage in the *ahem* media and a founder with a cult-like following whipped up a frenzy of excitement around the company.

"Most stocks trade based on how their multiple of earnings compares to other comparable stocks," Gil Luria, head of technology research at D.A. Davidson, told me. 

"Elon Musk companies don't really do that." Musk's ventures instead trade on expectations, he added. 

"Tesla trades more on [autonomous driving service] Robotaxi and [humanoid robot] Optimus than they do on selling cars, and SpaceX trades more on the promise of Mars exploration, or at least data centers in space," said Luria.

Retail investors bought into that forward-looking narrative in droves.

SpaceX "embodies many of the qualities that have historically resonated with retail investors: a transformational technology story, a bold vision of the future, a celebrity founder and unparalleled media attention," Viraj Patel, global macro strategist at Vanda, said.

In the first five trading sessions, retail investors bought a net $405 million of SpaceX shares, comfortably the strongest retail IPO debut in recent history, said research firm Vanda.

"For SpaceX, the 'cult of Elon' pulls in more retail investors and adds extra hype that can add a lot to volatility as we saw with Tesla share prices," Mike Coop, chief investment officer, EMEA at Morningstar Wealth, told me. Morningstar analysts caused a stir in the run-up to SpaceX's IPO, writing that the stock was worth less than half of its $1.75 trillion target.

After a bullish initial few days on the public markets, fundamentals became a bigger driver of the price causing a "hangover," said Kyle Rodda, senior market analyst at Capital.com. 

Musk has been, in a somewhat predictable fashion, touting sky-high revenue growth in years to come. He said on June 14 that the company "might be able to reach approximately" $1 trillion revenue in 2030.

That would mark a huge jump from the $18.7 billion in revenue SpaceX made in 2025. The company posted a $4.9 billion net loss in 2025, and it lost $4.28 billion in the first quarter of this year.

Long term SpaceX faces two big challenges on the markets, said Coop. 

"Firstly, the supply of shares will go up as early investors lighten up exposures and monetise gains," he said.

"Secondly, the current price is too high given the massive uncertainty around the company's prospects and its starting point of being heavily loss making and requiring huge capital investment."

Despite that, so far few have been willing to bet against the stock.

Michael Burry of "The Big Short" fame said on June 16 that he has no position in SpaceX, and argued that options used to wager against the stock remain too expensive even as he questioned the company's nearly $3 trillion market value.

And while SpaceX is seeing some interest from short sellers, many are still reluctant to bet against Musk.

Time will tell how far narrative takes SpaceX stock. In any case, expect more twists and turns on the rollercoaster.

Latest updatesAnthropic is racing to increase its AI compute capacity in the Asia-Pacific region, as the company scrambles to keep up with soaring demand for its products.

OpenAI and Broadcom on Wednesday unveiled their debut custom chip, called Jalapeño, marking the ChatGPT maker's first entry into artificial intelligence silicon.

A second worker has died at the construction site of BYD's electric vehicle factory in Szeged, Hungary, CNBC has learned.

Apple on Thursday announced price hikes on MacBooks and iPads, its first formal move to pass higher memory and storage costs on to consumers after CEO Tim Cook said increases had become unavoidable.

ON Semiconductor has agreed to buy Synaptics in a nearly $7 billion all-stock deal to bolster its push into physical artificial intelligence technology.

Stock of the week

Micron stock.

Memory chipmaker Micron had a good week as its third-quarter results topped analysts' estimates.

The U.S. company has been one of the main beneficiaries of the AI boom, with its stock price up more than 800% over the past year, lifting the company's market cap past $1 trillion.

BlackBerry Today

BB

BlackBerry

$10.28 +1.67 (+19.32%)

As of 06/25/2026 03:59 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$3.12▼

$10.93P/E Ratio128.58

Price Target$7.17

BlackBerry Limited NYSE: BB delivered a Q1 fiscal 2027 earnings beat that impressed investors.

The June 25 report showed revenue surging 26% year-over-year to $152.9 million, well above the $139.8 million consensus.

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Adjusted earnings per share (EPS) of four cents topped the analysts’ estimate of three cents.

 However, a double beat alone doesn’t explain BB’s nearly 20% post-earnings surge, or its more than 170% year-to-date rally.

The bigger story is about the company’s ongoing transformation. BlackBerry is now a pure-play software company with a real foothold in what many call AI's next leg: physical AI. The question for investors is whether the recent surge is too early or just the start of a longer rally. 

BlackBerry Earnings Beat Shows Software Strategy Is WorkingAt a time when many technology stocks are being judged by a “what have you done for me lately?” standard, BlackBerry's latest earnings report gave the bulls a lot of ammunition. The numbers show that the company is converting its software pivot into durable profitability.

 BlackBerry posted its fifth consecutive quarter of positive GAAP net income. Adjusted EBITDA grew 144% year-over-year. Both the QNX and Secure Communications segments achieved Rule of 40 performance, a benchmark that combines growth and margin into a single test of software-business quality. The company also generated $4.6 million in operating cash flow, marking its first positive operating cash flow quarter in nine years, excluding a prior patent sale.

Management raised full-year guidance to revenue of $594 million to $621 million and adjusted EPS between 16 cents and 20 cents. 

How QNX Positions BlackBerry for the Physical AI Boom BlackBerry has fully exited handsets and now exclusively sells software. QNX, its real-time operating system, sits inside more than 275 million vehicles on the road today.

 That installed base gives BlackBerry a strategic position in physical AI. Physical AI refers to systems where models drive real-world machines: autonomous vehicles, humanoid robots, surgical equipment and industrial automation. These applications need software that responds in microseconds with zero tolerance for failure.

 This is where QNX shines. Its deterministic, safety-certified architecture is built for exactly these workloads. Cloud-trained AI must eventually run on certified embedded software when it touches the physical world, and that layer is QNX's value proposition.

 The NVIDIA NASDAQ: NVDA partnership, which was announced at Hannover Messe in April, amplifies the opportunity. QNX OS for Safety 8.0 now integrates with NVIDIA's IGX Thor platform and Halos Safety Stack. The combination targets autonomous mobile robots, humanoids, surgical robotics, and industrial automation.

Those are categories NVIDIA CEO Jensen Huang has flagged as multi-trillion-dollar end markets. A separate design win with Chinese EV maker Leapmotor for its D19 SUV signals continued automotive traction even as QNX expands into new verticals. 

Can BlackBerry's Valuation Support More Upside? After the post-earnings bump, BB shares trade around $10 with a trailing price-to-earnings (P/E) ratio just shy of 130x. 

BlackBerry Stock Forecast Today12-Month Stock Price Forecast:
$7.17
-30.27% Downside

Hold
Based on 9 Analyst Ratings

Current Price$10.29High Forecast$12.00Average Forecast$7.17Low Forecast$4.50BlackBerry Stock Forecast Details

The Blackberry analyst consensus forecasts on MarketBeat have the stock rated a Hold, with a consensus price target of around $7.

 However, Canaccord Genuity nearly doubled its price target to $8.20 from $4.40 on June 24, and Stifel Nicolas initiated coverage with a $12 price target. Investors will be watching to see if these are outliers or the start of a trend.

The consensus Hold rating suggests analysts still view BB as a slow-growth business. But if price targets begin to chase the company’s fundamentals, the outlook will change.  

For example, if QNX captures even a small slice of the physical AI software stack, the addressable market expands well beyond automotive. The NVIDIA partnership also opens distribution to a developer ecosystem numbering in the millions. 

That is the "early" argument. Bears counter that the revenue base is still small relative to ambitions. Competition from open-source ROS 2 and established players like Wind River and Green Hills Software is real and well-funded.

The Catch: QNX Momentum May Take Time to ScaleSeveral risks deserve attention before chasing the rally. QNX revenue grew strongly in Q1, but automotive software design cycles are notoriously long. Royalty revenue depends on vehicle production volumes, which remain choppy globally. 

Secure Communications growth runs in the mid-single digits. That segment generates steady cash but will not drive the multiple expansion needed to justify the current price. 

Stock-based compensation and dilution are also persistent issues. A buyback program is in place, but the share count needs to fall further for per-share metrics to improve meaningfully. 

Is BlackBerry Stock a Buy After Its Massive Rally? The Q1 print confirmed that BlackBerry's pivot is working. Physical AI gives the company a real growth narrative for the first time in over a decade. But at current prices, investors are paying for a story that needs several quarters of execution to fully play out.

 For long-term holders, the thesis remains intact, and the guidance raise gives them another quarter of cover. For new buyers, waiting for a pullback or a clearer signal that QNX royalties are accelerating may be the more disciplined approach.

BlackBerry Limited (BB) Price Chart for Friday, June, 26, 2026

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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.

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The decline appears to reflect broad market weakness rather than company-specific news. Softer index futures prompted investors to reduce exposure to high-growth technology stocks, leading to profit-taking across semiconductor names following their strong gains in recent months.

AI Spending Keeps Taiwan Semiconductor Ahead While Intel Foundry Gains TractionSeparately, Counterpoint Research said on Friday the global Foundry 2.0 market is benefiting from sustained artificial intelligence demand, with Taiwan Semiconductor expected to remain one of the biggest winners as AI investments continue through 2026.

The research firm said Taiwan Semiconductor’s first-quarter revenue surged 41% year over year and forecast full-year 2026 revenue growth of about 36%, driven by strong demand for AI GPUs, AI ASICs and advanced packaging.

Senior Analyst William Li said the current AI cycle represents a “broader structural transformation” for the semiconductor industry rather than a typical cyclical recovery, citing unprecedented capacity reallocations, pricing changes, and persistent CoWoS packaging constraints.

“Growing TPU and ASIC demand could further tighten leading-edge capacity, creating opportunities for Intel Foundry and Samsung Foundry, with Apple M-series chip on Intel Foundry as a potential catalyst,” the research firm said.

Technical AnalysisDespite Friday’s pullback, TSM remains in a long-term uptrend. The stock continues to trade above its 50-day simple moving average of $411.50, its 100-day SMA of $381.83, and its 200-day SMA of $339.26. The 20-day SMA also remains above the 50-day SMA, while the 50-day SMA stays above the 200-day SMA, signaling a bullish long-term trend.

In the near term, however, momentum has cooled. TSM is trading about 1.5% below its 20-day SMA of $433.61 after retreating from its June peak and 52-week high. That suggests the stock is consolidating rather than extending its rally.

The relative strength index (RSI) stands at 52.43, indicating neutral momentum. A reading near 50 typically signals a balanced market where buyers and sellers remain evenly matched.

Key resistance sits near $450. A move above that level could revive bullish momentum. On the downside, support is around $405.50, just below the 50-day moving average. A break below that level could weaken the intermediate-term trend.

Earnings And Analyst OutlookTSM is expected to report second-quarter results on July 16.

Wall Street expects earnings of $3.77 per share, up from $2.47 a year earlier, on revenue of $39.76 billion, compared with $30.07 billion in the prior-year quarter.

The stock trades at about 37.5 times earnings, reflecting its premium valuation.

Analysts remain broadly bullish. The consensus rating is Buy, with an average price forecast of $489.17. Recent analyst actions include:

Bank of America Securities reiterated Buy and raised its price forecast to $590 on June 24. Susquehanna maintained a Positive rating and lifted its price forecast to $575 on June 22. Barclays reiterated Overweight with a $470 price forecast on April 22. Taiwan Semiconductor Benzinga Edge RankingsAccording to Benzinga Edge, TSM scores highly for Momentum (91.98), Growth (92.65), and Quality (97.54), while its Value score remains weak at 22.28 because of its premium valuation.

The combination suggests investors continue to reward the company’s strong earnings profile and AI-driven growth prospects, although valuation remains a key consideration.

ETF ExposureTSM is a major holding in several exchange-traded funds, including:

Large inflows or outflows in these funds can create additional buying or selling pressure for TSM shares.

Taiwan Semiconductor Price ActionTSM Stock Price Activity: Taiwan Semiconductor shares were down 1.61% at $428.00 during premarket trading on Friday, according to Benzinga Pro data.

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The positive opinion is based on results from the Phase 3 BRUIN CLL-313 and BRUIN CLL-314 trials, previously presented at the 2025 American Society of Hematology Annual Meeting and published in The Journal of Clinical Oncology

BRUIN CLL-313 is the first Phase 3 study to evaluate a non-covalent BTK inhibitor exclusively in patients with treatment-naïve CLL and BRUIN CLL-314 is the first Phase 3 CLL trial to compare non-covalent and covalent BTK inhibitors, as well as the first to compare any BTK inhibitors in the treatment-naïve setting

If granted marketing authorization, this would expand pirtobrutinib's indication as a treatment option for patients with CLL in the European Union across all lines of therapy

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for Jaypirca (pirtobrutinib), a non-covalent Bruton tyrosine kinase (BTK) inhibitor, for the treatment of adults with chronic lymphocytic leukemia (CLL) across all lines of therapy and regardless of prior BTK inhibitor treatment. Following this positive opinion, the application is now referred to the European Commission for final action. The European Commission's decision is expected in the next one to two months. 

"Results from BRUIN CLL-313 and BRUIN CLL-314 provide compelling evidence that pirtobrutinib can make a meaningful difference for people living with CLL across multiple lines of therapy," said Paolo Ghia, M.D., professor, medical oncology, Università Vita-Salute San Raffaele and IRCCS Ospedale San Raffaele, Milano, Italy. "The strong efficacy and tolerability demonstrated in these trials underscores the clinical value pirtobrutinib may offer patients. This positive opinion from the CHMP is an exciting and significant milestone, bringing us closer to a future where pirtobrutinib is an option for more people with CLL across the European Union."

Results from BRUIN CLL-313 and BRUIN CLL-314 were presented at the American Society of Hematology (ASH) Annual Meeting and Exposition in December 2025 and published in The Journal of Clinical Oncology.

"Based on the strong results from the BRUIN CLL-313 and CLL-314 studies, we believe Jaypirca has the potential to serve as a meaningful new option for newly diagnosed patients and those who have not yet received a BTK inhibitor," said Jacob Van Naarden, executive vice president and president of Lilly Oncology. "Thanks to the impact of contemporary CLL treatments, many patients may receive fewer lines of therapy over their lifetime, making treatment choices in earlier lines profoundly important. This CHMP opinion represents a step toward an important global approval for Jaypirca in this indication and reflects our ambition to make Jaypirca available to every CLL patient who may benefit, at any line of therapy. Today, we are on the brink of making that a reality across the European Union as we await the European Commission's final decision."

Lilly has also submitted these results to the U.S. Food and Drug Administration (FDA) for approval for adult patients with CLL, with a decision expected in the second half of 2026.

About BRUIN CLL-313
BRUIN CLL-313 is a Phase 3, global, randomized, open-label study of pirtobrutinib versus chemoimmunotherapy (BR) in people with CLL/SLL without 17p deletions who have not been previously treated. The trial enrolled 282 patients who were randomized 1:1 to receive pirtobrutinib (200 mg orally, once daily) or BR per labeled doses. BR is a chemoimmunotherapy regimen used in the treatment of CLL. The primary endpoint is PFS as assessed by blinded IRC. Secondary endpoints include investigator and IRC assessed ORR, duration of response (DoR), and PFS, OS, time to next treatment (TTNT), safety and tolerability and patient-reported outcomes (PRO). 

About BRUIN CLL-314
BRUIN CLL-314 is a Phase 3, randomized, open-label study of Jaypirca (pirtobrutinib) versus Imbruvica (ibrutinib) in patients with CLL/SLL who were either treatment-naïve, or who were previously treated and were BTK inhibitor-naïve. The trial enrolled 662 patients who were randomized 1:1 to receive pirtobrutinib (200 mg orally, once daily) or ibrutinib (420 mg orally, once daily). The primary endpoint is ORR as assessed by blinded IRC. Secondary endpoints include investigator and IRC-assessed PFS, duration of response (DoR) and event-free survival (EFS), and time to next treatment (TTNT), OS, safety and tolerability, and patient-reported outcomes (PRO).

About Jaypirca (pirtobrutinib)
Jaypirca (pirtobrutinib, formerly known as LOXO-305) (pronounced jay-pihr-kaa) is a highly selective (300 times more selective for BTK versus 98% of other kinases tested in preclinical studies), non-covalent inhibitor of the enzyme BTK.1 BTK is a validated molecular target found across numerous B-cell leukemias and lymphomas including mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL).2,3 Jaypirca is a U.S. FDA-approved oral prescription medicine, 100 mg or 50 mg tablets taken as a once-daily 200 mg dose with or without food until disease progression or unacceptable toxicity.

About Chronic Lymphocytic Leukemia (CLL)
CLL is a form of slow-growing non-Hodgkin lymphoma that develops from white blood cells known as lymphocytes.4,5 CLL is one of the most common types of leukemia in adults.6  There are roughly 100,000 new cases of CLL globally each year, and the overall incidence of CLL in Europe is approximately 4.92 cases per 100,000 persons per year.6,7  In CLL, the cancer cells are present in the blood.6

INDICATIONS FOR JAYPIRCA (pirtobrutinib) (in the United States)

Adult patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have previously been treated with a covalent BTK inhibitor. Adult patients with relapsed or refractory (R/R) mantle cell lymphoma (MCL) after at least two lines of systemic therapy, including a BTK inhibitor. This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical trial benefit in a confirmatory trial. IMPORTANT SAFETY INFORMATION FOR JAYPIRCA (pirtobrutinib)

Infections: Fatal and serious infections (including bacterial, viral, fungal) and opportunistic infections occurred in Jaypirca-treated patients. Across clinical trials, Grade ≥3 infections occurred (25%), most commonly pneumonia (20%); fatal infections (5%), sepsis (6%), and febrile neutropenia (3.8%) occurred. In patients with CLL/SLL, Grade ≥3 infections occurred (32%), with fatal infections occurring in 8%. Opportunistic infections included Pneumocystis jirovecii pneumonia and fungal infection. Consider prophylaxis, including vaccinations and antimicrobial prophylaxis, in patients at increased risk for infection, including opportunistic infections. Monitor for signs and symptoms, evaluate, and treat. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Hemorrhage: Fatal and serious hemorrhage has occurred with Jaypirca. Across clinical trials, major hemorrhage (Grade ≥3 bleeding or any central nervous system bleeding) occurred (2.6%), including gastrointestinal hemorrhage; fatal hemorrhage occurred (0.3%). Bleeding of any grade, excluding bruising and petechiae, occurred (16%). Major hemorrhage occurred when taking Jaypirca with (2.0%) and without (0.6%) antithrombotic agents. Consider risks/benefits of co-administering antithrombotic agents with Jaypirca. Monitor for signs of bleeding. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca. Consider withholding Jaypirca 3-7 days pre- and post-surgery based on surgery type and bleeding risk.

Cytopenias: Jaypirca can cause cytopenias, including neutropenia, thrombocytopenia, and anemia. Across clinical trials, Grade 3 or 4 cytopenias, including decreased neutrophils (27%), decreased platelets (13%), and decreased hemoglobin (11%), developed. Grade 4 decreased neutrophils (15%) and Grade 4 decreased platelets (6%) developed. Monitor complete blood counts regularly. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Cardiac Arrhythmias: Cardiac arrhythmias occurred in patients taking Jaypirca. Across clinical trials, atrial fibrillation or flutter were reported in 3.4% of Jaypirca treated patients, with Grade 3 or 4 atrial fibrillation or flutter in 1.6%. Other serious cardiac arrhythmias such as supraventricular tachycardia and cardiac arrest occurred (0.4%). Cardiac risk factors such as hypertension or previous arrhythmias may increase risk. Monitor and manage signs and symptoms of arrhythmias (e.g., palpitations, dizziness, syncope, dyspnea). Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Second Primary Malignancies: Across clinical trials, second primary malignancies, including non-skin carcinomas, developed in 9% of Jaypirca-treated patients, most frequently non-melanoma skin cancer (4.4%). Other second primary malignancies included solid tumors (including genitourinary and breast cancers) and melanoma. Advise patients to use sun protection and monitor for development of second primary malignancies.

Hepatotoxicity, Including Drug-Induced Liver Injury (DILI): Hepatotoxicity, including severe, life-threatening, and potentially fatal cases of DILI, has occurred in patients treated with BTK inhibitors, including Jaypirca. Evaluate bilirubin and transaminases at baseline and throughout Jaypirca treatment. For patients who develop abnormal liver tests after Jaypirca, monitor more frequently for liver test abnormalities and clinical signs and symptoms of hepatic toxicity. If DILI is suspected, withhold Jaypirca. If DILI is confirmed, discontinue Jaypirca.

Embryo-Fetal Toxicity: Jaypirca can cause fetal harm. Administration of pirtobrutinib to pregnant rats caused embryo-fetal toxicity, including embryo-fetal mortality and malformations at maternal exposures (AUC) approximately 3-times the recommended 200 mg/day dose. Advise pregnant women of fetal risk and females of reproductive potential to use effective contraception during treatment and for one week after last dose.

Adverse Reactions (ARs) in Patients Who Received Jaypirca
The most common (≥30%) ARs in the pooled safety population of patients with hematologic malignancies (n=704) were decreased neutrophil count (54%), decreased hemoglobin (43%), decreased leukocytes (32%), fatigue (31%), decreased platelets (31%), decreased lymphocyte count (31%), calcium decreased (30%).

Mantle Cell Lymphoma

Serious ARs occurred in 38% of patients, with pneumonia (14%), COVID-19 (4.7%), musculoskeletal pain (3.9%), hemorrhage (2.3%), pleural effusion (2.3%), and sepsis (2.3%) occurring in ≥2% of patients. Fatal ARs within 28 days of last dose occurred in 7% of patients, most commonly due to infections (4.7%), including COVID-19 (3.1% of all patients).

Dose Modifications and Discontinuations Due to ARs: Dose reductions in 4.7%, treatment interruption in 32%, and permanent discontinuation of Jaypirca in 9% of patients. Permanent discontinuation in >1% of patients included pneumonia.

Most common ARs (≥15%) and Select Laboratory Abnormalities (≥10%) (all Grades %; Grade 3-4 %): hemoglobin decreased (42; 9), platelet count decreased (39; 14), neutrophil count decreased (36; 16), lymphocyte count decreased (32; 15), creatinine increased (30; 1.6), fatigue (29; 1.6), musculoskeletal pain (27; 3.9), calcium decreased (19; 1.6), diarrhea (19; -), edema (18; 0.8), dyspnea (17; 2.3), AST increased (17; 1.6), pneumonia (16; 14), bruising (16; -), potassium decreased (13; 1.6), sodium decreased (13; -), lipase increased (12; 4.4), ALT increased (11; 1.6), potassium increased (11; 0.8), alkaline phosphatase increased (11; -). Grade 4 laboratory abnormalities in >5% of patients included neutrophils decreased (10), platelets decreased (7), lymphocytes decreased (6).

Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma from Single-Arm and Randomized Controlled Clinical Trials

Serious ARs occurred in 47-56% of patients across clinical trials. Serious ARs in ≥5% of patients in the single-arm trial were pneumonia (18%), COVID-19 (9%), sepsis (7%), febrile neutropenia (7%). Serious ARs in ≥3% of patients in the randomized controlled trial were pneumonia (21%), COVID-19 (5%), sepsis (3.4%). Fatal ARs within 28-30 days of last Jaypirca dose occurred in 8-11% of patients, most commonly due to infections (7-10%), including sepsis (5%), COVID-19 (2.7-5%), and pneumonia (3.4%).

Dose Modifications and Discontinuations Due to ARs: Dose reductions in 3.6-10%, treatment interruption in 42-51%, and permanent discontinuation of Jaypirca in 9-17% of patients. Permanent discontinuation in >1% of patients included second primary malignancy, pneumonia, COVID-19, neutropenia, sepsis, anemia, and cardiac arrythmias.

Most common ARs and Select Laboratory Abnormalities (≥20%) (all Grades %, Grade 3-4 %)--in a randomized controlled trial: neutrophil count decreased (54; 26), hemoglobin decreased (45; 10), platelet count decreased (37; 17), pneumonia (28; 16), ALT increased (25; 1.8), creatinine increased (25; -), calcium decreased (23; 0.9), sodium decreased (22; 0.9), bilirubin increased (21; 0.9), upper respiratory tract infections (21; 0.9); in a single-arm trial: neutrophil count decreased (63; 45), hemoglobin decreased (48; 19), calcium decreased (40; 2.8), fatigue (36; 2.7), bruising (36; -), cough (33; -), musculoskeletal pain (32; 0.9), platelet count decreased (30; 15), sodium decreased (30; -), COVID-19 (28; 7), pneumonia (27; 16), diarrhea (26; -), abdominal pain (25; 2.7), lymphocyte count decreased (23; 8), ALT increased (23; 2.8), AST increased (23; 1.9), creatinine increased (23; -), dyspnea (22; 2.7), hemorrhage (22; 2.7), lipase increased (21; 7), alkaline phosphatase increased (21; -), edema (21; -), nausea (21; -), pyrexia (20; 2.7), headache (20; 0.9). Grade 4 laboratory abnormalities in >5% of patients included neutrophils decreased (23).

Drug Interactions

Strong CYP3A Inhibitors: Concomitant use increased pirtobrutinib systemic exposure, which may increase risk of Jaypirca ARs. Avoid using strong CYP3A inhibitors with Jaypirca. If concomitant use is unavoidable, reduce Jaypirca dose according to approved labeling.

Strong or Moderate CYP3A Inducers: Concomitant use decreased pirtobrutinib systemic exposure, which may reduce Jaypirca efficacy. Avoid using Jaypirca with strong or moderate CYP3A inducers. If concomitant use with moderate CYP3A inducers is unavoidable, increase Jaypirca dose according to approved labeling.

Sensitive CYP2C8, CYP2C19, CYP3A, P-gp, or BCRP Substrates: Use with Jaypirca increased their plasma concentrations, which may increase risk of ARs related to these substrates for drugs sensitive to minimal concentration changes. Follow recommendations for these sensitive substrates in their approved labeling.

Use in Specific Populations

Pregnancy and Lactation: Due to potential for Jaypirca to cause fetal harm, verify pregnancy status in females of reproductive potential prior to starting Jaypirca. Presence of pirtobrutinib in human milk is unknown. Advise women to use effective contraception and to not breastfeed while taking Jaypirca and for one week after last dose.

Geriatric Use: In the pooled safety population of patients with hematologic malignancies, patients aged ≥65 years experienced higher rates of Grade ≥3 ARs and serious ARs compared to patients <65 years of age.

Renal Impairment: Because severe renal impairment increases pirtobrutinib exposure, reduce Jaypirca dose in these patients according to approved labeling.

PT HCP ISI MCL_CLL Q42025

Please see Prescribing Information and Patient Information for Jaypirca.

About Lilly 
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

© Lilly USA, LLC 2026. ALL RIGHTS RESERVED.

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All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Jaypirca (pirtobrutinib), as a potential treatment for adults with chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL), and the timeline for future readouts, presentations, and other milestones relating to Jaypirca and its clinical trials, and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other things, there is no guarantee that planned or ongoing studies will be completed as planned, that future study results will be consistent with study results to date, that Jaypirca will receive additional regulatory approvals, or that Lilly will execute its strategy as expected. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Endnotes & References

Mato AR, Shah NN, Jurczak W, et al. Pirtobrutinib in relapsed or refractory B-cell malignancies (BRUIN): a phase 1/2 study. Lancet. 2021;397(10277):892-901. doi:10.1016/S0140-6736(21)00224-5 Hanel W, Epperla N. Emerging therapies in mantle cell lymphoma. J Hematol Oncol. 2020;13(1):79. Published 2020 Jun 17. doi:10.1186/s13045-020-00914-1 Gu D, Tang H, Wu J, Li J, Miao Y. Targeting Bruton tyrosine kinase using non-covalent inhibitors in B cell malignancies. J Hematol Oncol. 2021;14(1):40. Published 2021 Mar 6. doi:10.1186/s13045-021-01049-7 Mukkamalla SKR, Taneja A, Malipeddi D, et al. Chronic Lymphocytic Leukemia. [Updated 2023 Feb 18]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2023 Jan. Available from: https://www.ncbi.nlm.nih.gov/books/NBK470433/ The Leukemia and Lymphoma Society. NHL Subtypes. Access here: https://www.lls.org/lymphoma/non-hodgkin-lymphoma/nhl-subtypes. Accessed on October 25, 2023. Ou Y, Long Y, Ji L, et al. Trends in Disease Burden of Chronic Lymphocytic Leukemia at the Global, Regional, and National Levels From 1990 to 2019, and Projections Until 2030: A Population-Based Epidemiologic Study. Front Oncol. 2022;12:840616. Published 2022 Mar 10. doi:10.3389/fonc.2022.840616 Sant M, et al. Incidence of hematologic malignancies in Europe by morphologic subtype: results of the HAEMACARE project. Blood. 2010. 116:3724–34. https://pubmed.ncbi.nlm.nih.gov/20664057/  Refer to:   Kyle Owens; [email protected] (Media)
                  Michael Czapar; [email protected] (Investors) 

SOURCE Eli Lilly and Company

Key Takeaways MKC says Flavor Solutions growth offset softer U.S. consumer trends, led by foodservice and CPG demand.MKC is refining pricing, packs, distribution and marketing to improve consumer trends by the third quarter.MKC topped earnings and revenue estimates, with gross margin up 270 basis points and operating income up 30%. McCormick & Company, Incorporated (MKC - Free Report) used its second-quarter call to make a clear case that Flavor Solutions is carrying the business, while management works to restore better volume trends in U.S. consumer spices.

Management reaffirmed its 2026 outlook, but much of the investor focus shifted to how quickly the company can fix pressure in the Americas consumer business and sustain the stronger industrial and foodservice backdrop.

MKC Finds Its Main Engine in Flavor SolutionsChairman, president and CEO Brendan Foley said the quarter’s most important feature was the acceleration in Flavor Solutions, where growth broadened across Flavors and Branded Foodservice customers. That strength more than offset softer consumer trends in the Americas.

Flavor Solutions' organic sales rose 3% in the quarter, with gains split nearly evenly between price and volume. In the Americas, the segment posted 4% organic growth, helped by large CPG customers, private label, high-growth innovators and stronger branded foodservice demand.

Foley also pointed to reformulation activity, beverage innovation and health-and-wellness projects as key demand drivers. In Q&A, he said those projects are commercializing faster than initially expected, which adds support to the second-half outlook for the segment.

McCormick Targets a Consumer Volume ResetThe softer spot remained Global Consumer, especially U.S. spices and seasonings. Foley said shifting demand patterns, wider price gaps and heavier competitive promotion hurt consumption in certain segments, even as the broader category still grew.

Management’s response is familiar but more targeted this time. Foley said McCormick is refining revenue growth management, adjusting price-pack architecture, expanding distribution and increasing value-focused marketing to improve trends by the third quarter and return to volume growth in the fourth.

That issue surfaced repeatedly in analyst questions. Barclays, BofA and TD Cowen all pressed management on whether the company can restore sustainable volume momentum. Foley’s answer was consistent: the playbook is similar to the one used two years ago, but execution is faster, more digital and aimed at narrower pockets of weakness.

MKC Uses Margin Gains to Fund ReinvestmentThe second quarter still showed strong financial leverage. Adjusted EPS came in at $0.80, which beat the Zacks Consensus Estimate of $0.69 by 15.9%. Revenues of $1.94 billion topped the Zacks Consensus Estimate of $1.90 billion by 2%. Gross margin expanded 270 basis points, and adjusted operating income rose 30%.

CFO Marcos Gabriel said the largest moving pieces behind margin expansion were accretion from McCormick de Mexico, productivity savings, surgical pricing and a tariff refund. The refund lowered the cost of goods sold by $28 million in the quarter and added about $0.07 to adjusted EPS.

Just as important, Gabriel said most of that tariff benefit is being used to absorb higher inflation tied to the Middle East conflict and other cost pressures. That framing mattered because management presented the quarter’s margin upside as a source of funding for reinvestment, not as a clean earnings windfall.

McCormick Pushes Ahead on Unilever FoodsFoley also spent time reinforcing confidence in the pending Unilever Foods combination. He said integration planning is advancing with a dedicated management office, 20 functional teams and more than 200 people working across both organizations.

Management reiterated the deal’s financial targets, including a 21% operating margin at close, mid- to high-single-digit adjusted EPS accretion within the first 12 months after closing and mid- to high-teens accretion by year three.

Analysts also tested the durability of that future margin profile. Foley and Gabriel argued the model does not assume unusually lean SG&A, and Gabriel said the path to 23% to 25% operating margins comes from layering synergies on top of the 21% starting point.

MKC Flags a Softer Third-Quarter Profit CadenceThe other area of scrutiny was the third quarter. Gabriel said adjusted operating income should grow in the high-single-digit to low-double-digit range, with continued gross margin expansion offset by heavier ERP spending, higher incentive compensation and a significant increase in brand marketing.

JPMorgan and BNP Paribas pushed on whether this reflected a change in expectations. Gabriel said it was more about SG&A phasing than a change in the company’s internal view, though he also acknowledged inflation is tracking toward the high end of the company’s mid-single-digit cost outlook.

Cash flow was one cleaner positive. First-half operating cash flow rose to $431 million from $161 million a year earlier, helped by profitability and working capital improvement, particularly in inventory days and payables. Leverage ended the quarter at about 2.9 times.

McCormick Leaves the Call on OffenseThe overall tone coming out of the call was constructive but not complacent. Management repeatedly pointed to the resilience of flavor categories, the breadth of the portfolio and the ability to redirect margin gains into brand support, innovation and distribution.

At the same time, executives did not underplay the strain on the U.S. consumer. The company’s message was that Flavor Solutions is performing ahead of plan, while consumer remediation is now the central execution task for the back half of fiscal 2026.

MKC’s Zacks Signals Still Lean CautiousMKC currently carries a Zacks Rank #4 (Sell), along with a Value Score of C, Growth Score of F, Momentum Score of C and VGM Score of D. Under the Zacks framework, weaker ranks reflect less favorable earnings estimate revision trends, while Style Scores help gauge value, growth and momentum characteristics.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That combination points to a more cautious near-term setup than the quarter’s headline beat alone would imply. The Zacks system places the greatest weight on estimate revisions, and the current rank can change as analysts update forecasts after the just-reported results.

Carvana NYSE: CVNA delivered a genuinely impressive Q1 2026 earnings report that included a record number of units sold.

Carvana Today

$66.22 -1.69 (-2.49%)

As of 06/25/2026 03:59 PM Eastern

52-Week Range$54.46▼

$97.38P/E Ratio40.28

Price Target$93.14

However, in the two months following the report, CVNA is down approximately 15% despite favorable analyst sentiment. That includes a 10% drop on June 17 in sympathy with cost commentary from CarMax NYSE: KMX, even though Carvana's own unit economics are moving in the opposite direction.

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After the company’s strong Q1 numbers, Carvana still has operational fuel left in the tank. For example, the company’s AI-driven reconditioning tools haven't been rolled out at most facilities, meaning further margin expansion is on the runway.

The company's new Stellantis NYSE: STLA hybrid hub model has also shown early traction. The Casa Grande franchise reportedly went from 30 to 50 units per month to more than 700 after Carvana took it over.

Why Is CVNA Under Pressure?With all these positive factors driving the stock's outlook, why is CVNA under pressure? Some may say the issue is one of valuation. At 41x forward earnings, Carvana is priced like a technology stock. But the company’s innovative, online-only model has been disruptive to a market that wasn’t known for innovation. And, although the company doesn’t have a long history of profitability, the 41x figure is a discount to its historic average.

The company also cited the likelihood of lower gross profit per unit (GPU) in the coming quarter for a variety of reasons, including the year-over-year comparison to last year’s tariff anniversary. But that’s likely to be a one-time event and wouldn’t explain a sell-off that is now over 20% in 2026.

Carvana Is More Sensitive to Financing ConditionsThe real impact on CVNA is likely coming from something outside of its control. Specifically, the near-term direction of U.S. monetary policy. The tone of Federal Reserve chair Kevin Warsh's statements on June 17 did not indicate that he means to move towards an accommodative stance anytime soon.

The CME FedWatch tool agrees. The odds of a rate cut for the rest of 2026 are not even given a percentage. This may not satisfy investors who want to sharpen their pencils and look for a mathematical reason to sell Carvana in the company’s financials. But before dismissing it, here’s something to consider.

For an auto retailer, interest rates matter because auto loan rates are among the stickiest in consumer credit. The average used car APR is well above 11%. Trade-ins increasingly carry negative equity. A consumer who barely qualifies at current rates gets squeezed harder if rates hold or rise

Something else to consider, Carvana's competitor CarMax recently delivered earnings and, despite beating estimates and growing penetration, saw net income drop nearly 12% to $185.6 million as it cut prices to defend volume. Its loan-loss reserve also climbed to 2.95% of loans, up from 2.78%, as the company leaned harder into Tier 2. This is a category of consumers with strong but not top-tier credit who usually qualify for rates that carry a cost premium.

The typical Carvana customer skews to a lower FICO score than CarMax and is more dependent on financing. When rates stay high, marginal buyers are the first to be disqualified, and those are disproportionately Carvana's customers. There's also a K-shaped wrinkle to consider. Upper-leg consumers are still spending, but they're prioritizing travel and experiences over big-ticket vehicle purchases.

That does give fundamental investors something to consider. Restrictive policy compresses growth multiples hardest. At a 41x forward multiple, Carvana needs growth to deliver.

If higher-for-longer rates take $1 of earnings per share (EPS) away from CarMax, it could take 10x off CVNA's multiple. That puts Carvana’s 5-for-1 split last quarter into a different light.

Analysts Remain Bullish, But Technicals Stay WeakInstitutional buying was down sharply in the last quarter, but since the company’s earnings report, analysts have been mostly bullish on CVNA. The Carvana analyst forecasts on MarketBeat show a consensus price target of $93.14 as of June 24, representing a significant gain for investors. However, investors may have to wait until after Carvana reports earnings next month to get a better picture of analyst sentiment.

The CVNA chart shows a stock that continues to be in a downtrend, with recent rallies failing to crack the 200-day simple moving average. A bigger concern for investors may be volume, which is down sharply. The MACD also remains below its signal line, with the histogram near zero. There’s simply no real conviction one way or the other, which amplifies short interest of around 7%, which in and of itself isn’t bearish.

The next potential catalyst comes with Carvana's Q2 earnings report scheduled for July 29. Until then, CVNA is likely to stay tethered to macro signals rather than its own execution. The numbers say the company’s business model is working. The question is whether the Federal Reserve cooperates before the multiple compresses further.

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June 26, 2026 07:00 ET  | Source: Axsome Therapeutics, Inc.

NEW YORK, June 26, 2026 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) disorders, today announced that the first patient has been dosed in the FOCUS-3 Phase 3 trial evaluating solriamfetol as a treatment for adolescents with attention deficit hyperactivity disorder (ADHD).

FOCUS-3 (Forward Treatment of Attention Deficit and Hyperactivity Using Solriamfetol) is a Phase 3, randomized, double-blind, placebo-controlled, multicenter trial to assess the efficacy and safety of solriamfetol in adolescents aged 12 to less than 18 years with ADHD. Approximately 468 patients will be randomized in a 1:1:1 ratio to receive one of two doses of solriamfetol or placebo for 6 weeks. The primary endpoint will be the change from baseline to week 6 in the ADHD Rating Scale (ADHD-RS-5) total score.

About Attention Deficit Hyperactivity Disorder (ADHD)

Attention deficit hyperactivity disorder (ADHD) is a chronic neurobiological and developmental disorder characterized by a persistent pattern of inattention, hyperactivity, or impulsivity, that interferes with functioning or development.1 Impairments in cognition are apparent in attention, planning and problem solving, working memory, and behavioral inhibition.2,3 An estimated 15.5 million adults and 7 million children in the U.S. are affected by ADHD,4,5 with approximately two-thirds or more of children with ADHD continuing to experience symptoms into adulthood.6 The total annual societal excess cost associated with adult ADHD in the U.S. has been estimated at over $120 billion.7

About Solriamfetol

Solriamfetol is a dopamine and norepinephrine reuptake inhibitor (DNRI), TAAR1 agonist, and 5-HT1A agonist being developed for the treatment of attention deficit hyperactivity disorder (ADHD), major depressive disorder (MDD) with excessive daytime sleepiness (EDS), binge eating disorder (BED), and excessive sleepiness associated with shift work disorder (SWD).

About Axsome Therapeutics

Axsome Therapeutics is a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) conditions. We deliver scientific breakthroughs by identifying critical gaps in care and develop differentiated products with a focus on novel mechanisms of action that enable meaningful advancements in patient outcomes. Our industry-leading neuroscience portfolio includes FDA-approved treatments for major depressive disorder, agitation associated with dementia due to Alzheimer’s disease, excessive daytime sleepiness associated with narcolepsy and obstructive sleep apnea, and migraine, as well as multiple novel product candidates addressing a broad range of serious neurological and psychiatric conditions that impact over 150 million people in the United States. Together, we are on a mission to solve some of the brain’s biggest problems so patients and their loved ones can flourish. For more information, please visit us at www.axsome.com and follow us on LinkedIn and X.

Forward Looking Statements

Certain matters discussed in this press release are “forward-looking statements”. The Company may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company’s statements regarding trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the commercial success of the Company’s SUNOSI®, AUVELITY®, and SYMBRAVO® products and the success of the Company’s efforts to obtain any additional indication(s) with respect to solriamfetol and/or AXS-05; the Company’s ability to maintain and expand payer coverage; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund the Company’s disclosed clinical trials, which assumes no material changes to the Company’s currently projected revenues or expenses), futility analyses and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials, and/or data readouts, and the number or type of studies or nature of results necessary to support the filing of a new drug application (“NDA”) for any of the Company’s current product candidates; the Company’s ability to fund additional clinical trials to continue the advancement of the Company’s product candidates; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, the Company’s product candidates, including statements regarding the timing of any NDA submission; the Company’s ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the Company’s ability to successfully resolve any intellectual property litigation, and even if such disputes are settled, whether the applicable federal agencies will approve of such settlements; the successful implementation of the Company’s research and development programs and collaborations; the success of the Company’s license agreements; the acceptance by the market of the Company’s products and product candidates, if approved; the Company’s anticipated capital requirements, including the amount of capital required for the commercialization of SUNOSI, AUVELITY, and SYMBRAVO and for the Company’s commercial launch of its other product candidates, if approved, and the potential impact on the Company’s anticipated cash runway; the Company’s ability to convert sales to recognized revenue and maintain a favorable gross to net sales; unforeseen circumstances or other disruptions to normal business operations arising from or related to domestic political climate, geo-political conflicts or a global pandemic and other factors, including general economic conditions and regulatory developments, not within the Company’s control. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Investors:

Ashley Dong
Senior Director, Investor Relations
(929) 687-1614
[email protected]

Media:
Darren Opland
Senior Director, Corporate Communications
(929) 837-1065
[email protected]

References:

American Psychiatric Association, Diagnostic and Statistical Manual of Mental Disorders, 5 ed., Arlington, VA: American Psychiatric Publishing, 2013.Brown TE. ADD/ADHD and Impaired Executive Function in Clinical Practice. Curr Psychiatry Rep. 2008 Oct;10(5):407-11.Nestler E., Hyman S., and Malenka R. Molecular Neuropharmacology: A Foundation for Clinical Neuroscience, Second Edition, 2nd ed., New York: McGraw-Hill Professional, 2008.Facts About ADHD in Adults. CDC. 2024.Data and Statistics on ADHD. CDC. 2024.Sibley MH et al. Variable Patterns of Remission From ADHD in the Multimodal Treatment Study of ADHD. Am J Psychiatry. 2022 Feb;179(2):142-151.Schein J et al. Economic burden of attention-deficit/hyperactivity disorder among adults in the United States: a societal perspective. J Manag Care Spec Pharm. 2022 Feb;28(2):168-179.

Advanced Micro Devices NASDAQ:AMD stock has surged more than 130% this year, but Wall Street is still chasing the stock higher.

In June alone, Barclays, UBS, Mizuho and Bernstein all raised their price targets on the chipmaker as analysts are no longer treating AMD as just a second-place GPU challenger to Nvidia.

They are increasingly arguing that CPUs are becoming an AI story and the driver is agentic AI, or AI systems that do more than answer one prompt.

Barclays was one of the first major firms to put a bigger number on the CPU opportunity.

Analyst Tom O’Malley raised his AMD price target to $665 from $500 and kept an Overweight rating.

His core argument was that “CPU-to-GPU ratios are narrowing as CPU demand reaches new levels in the rapidly expanding world of agentic AI,” adding that AMD is “best positioned to benefit from this transition”.

The CPU-to-GPU ratio simply means how many central processors are needed for every graphics processor inside AI systems.

Early AI spending was dominated by GPUs because training large models required enormous parallel computing power.

Agentic AI changes the mix because it needs more coordination, routing and software execution around those GPUs.

O’Malley’s model sees the standalone server CPU market approaching $200 billion by 2030.

UBS pushed the argument even further.

Analyst Timothy Arcuri raised his AMD target to $670 from $455 and kept a Buy rating.

That now stands above Barclays’ $665 call and makes UBS one of the most bullish voices on the stock.

The firm said it was “incrementally more constructive” on AMD as standalone CPU racks gain traction.

In plain English, UBS thinks customers are starting to buy CPU-heavy systems for AI workloads that do not rely only on GPU clusters.

That matters because AMD’s CPU business has often been overshadowed by its Instinct GPU ramp.

Investors are watching whether AMD can become a credible second source to Nvidia in AI accelerators. UBS is saying another part of the story may be hiding in plain sight: server CPUs.

Arcuri lifted his 2030 AMD server CPU revenue forecast to $50 billion from $41 billion.

Mizuho and Bernstein added a second layer to the bull case: scarcity.

Mizuho raised its AMD target to $615 from $515 and kept an Outperform rating, citing strong demand linked to agentic AI.

The firm also flagged that CPU and memory suppliers could remain supply-constrained into 2027.

That turns the story from pure demand into a supply-side argument.

If companies need more CPUs for AI workloads, and supply remains tight, pricing and revenue assumptions may have room to move higher.

Bernstein also raised its AMD target, lifting it to $600 from $525 while maintaining an Outperform rating.

The firm increased its 2030 server CPU market estimate to $223 billion from $137 billion, reflecting a much larger opportunity tied to agentic AI.

The caveat is valuation, as AMD’s average Wall Street price target still sits below where the stock recently traded, which means shares have already run ahead of broad consensus.

The next real tests are AMD’s Advancing AI event in July and Q2 earnings in early August.

Moderna (MRNA 1.03%) has been on fire this year. As of this writing, the company's shares have slightly more than doubled to date. What's more, the biotech has an important catalyst on the horizon. Let's find out whether there is any upside left for the company.

Image source: Getty Images.

Racing toward an approval Moderna has been working on an influenza vaccine, mRNA-1010. It submitted regulatory applications for this candidate earlier this year. The U.S. Food and Drug Administration (FDA) should approve or reject Moderna's application by Aug. 5. It's an important date for the biotech company, as an approval in this field might allow it to establish itself as a leader in the flu market. True, plenty of flu vaccines exist, but their efficacy is usually not very impressive, typically between 40% to 60% in the U.S. In phase 3 studies, mRNA-1010 performed better than approved vaccines in patients aged 50 and older who tend to be more at risk of severe cases of the disease, hospitalization, and death.

And if there was any doubt about whether mRNA-1010 would get the FDA's green light, recent developments have made that outcome practically certain. Members of an advisory committee convened by the FDA to give their opinion on whether mRNA-1010 should earn approval unanimously voted in favor. The health regulatory agency doesn't always follow the advice of these experts, but it almost always does. It would be surprising if mRNA-1010 doesn't get the nod.

Today's Change

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-1.03

%) $

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Current Price

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59.80

What does this mean for the stock? Moderna's shares soared after the advisory committee's vote of confidence for mRNA-1010. So, it's likely the market has already priced in a positive outcome, and the stock won't move much once mRNA-1010 is approved. However, there are still good reasons to invest in Moderna. The company is once again demonstrating its innovative qualities with mRNA-1010, just as it did with its coronavirus vaccine, which became a leader in that niche. The flu vaccine market isn't that large. According to some estimates, it was worth $8.9 billion last year, although it will continue growing at a good clip for the foreseeable future. Moderna's potential sales in this niche alone do not justify its $24.5 billion market cap, especially given that it generates meager revenue from its currently approved products.

That said, the vaccine maker has a rich pipeline with several products that could become key growth drivers. For instance, Moderna is developing mRNA-4157, an investigational personalized cancer vaccine that has shown highly encouraging clinical trial results and is now undergoing several phase 2 and phase 3 studies. Moderna is also going after difficult targets. The company is developing an HIV vaccine. Moderna's success in the flu vaccine market will help it pursue even more lucrative markets. Over the next five years, the company could have a much broader portfolio of approved products while generating strong revenue and earnings. That's why Moderna's shares are still attractive, even after climbing by about 100% this year.

The logo of Equinor is set up at the entrance of a building at Western Europe's largest liquefied natural gas plant Hammerfest LNG in Hammerfest, Norway, March 14, 2024. REUTERS/Lisi... Purchase Licensing Rights, opens new tab Read more

CompaniesOSLO, June 26 (Reuters) - Norway's energy firm Equinor (EQNR.OL), opens new tab ​has decided to end its offshore ‌wind business activities in Japan and close its Tokyo office by the ​end of 2026, the company ​said on its website.

"This decision reflects ⁠a reassessment of Equinor's strategic direction, ​with a strengthened focus on integrated ​power markets," it added.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

The majority state-owned company entered Japan in 2018 but failed to win ​any leases in successive offshore ​wind auctions.

It had already pulled back ‌from ⁠offshore wind development in several markets, including Vietnam, Spain, Portugal and France, citing rising costs.

Equinor, whose core ​business ​remains oil ⁠and gas production, further scaled back its renewables ambitions on ​June 16, scrapping its ​2030 ⁠installed capacity target.

Instead, the company said it would focus on expanding ⁠its ​integrated power business, combining ​renewables with gas-to-power generation and other sources.

Reporting by ​Nerijus Adomaitis, editing by Essi Lehto

Our Standards: The Thomson Reuters Trust Principles., opens new tab

A new Medicare pathway, the Medicare GLP-1 Bridge program, makes Lilly's obesity medicines – a daily pill or the number 1 most prescribed injectable – accessible to eligible Medicare Part D patients beginning July 1

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced additional details regarding the Medicare GLP-1 Bridge* program taking effect July 1, 2026. Under the program, Medicare Part D patients may be able to access Foundayo (orforglipron) or Zepbound (tirzepatide) KwikPen for single-patient-use for weight management. The Medicare GLP-1 Bridge program will be the first time eligible Medicare Part D patients will be able to broadly receive coverage for a GLP-1 for overweight or obesity.1 We believe this is a milestone that reflects growing recognition of the impact of obesity, including in older adults. Below is what patients and their healthcare providers need to know, including an overview of the clinical and program eligibility requirements determined by Centers for Medicare & Medicaid Services (CMS).

Are Foundayo (orforglipron) and Zepbound (tirzepatide) covered by Medicare through the GLP-1 Bridge program?
Medicare Part D patients who meet the Medicare GLP-1 Bridge Clinical Criteria and other CMS eligibility requirements may be able to access Foundayo (orforglipron) or Zepbound (tirzepatide) for weight management under the Medicare GLP-1 Bridge program for $50 per month. Other weight management medications are also covered under the program. Coverage begins July 1, 2026, for new and existing patients and will run through December 31, 2027.

Foundayo (orforglipron) and Zepbound (tirzepatide) are indicated for adults with obesity, or some adults with overweight who also have weight-related medical problems, along with a reduced calorie diet and increased physical activity.

To learn more, visit www.lilly.com/lillydirect/medicare. For questions about the Medicare GLP-1 Bridge program, refer to https://www.medicare.gov/coverage/weight-loss-drugs.

Why is this a milestone for people on Medicare living with obesity?
Until now, weight management medications have not been broadly covered by Medicare even though two in five U.S. adults aged 65 and older are living with obesity.2 Creating a Medicare Part D coverage pathway for eligible patients advances Lilly's long-held view of obesity as a chronic disease. It also unlocks access to Lilly's obesity medicines, offering patients and their doctors options rather than a one-size-fits-all approach.

"Lilly estimates that approximately 20 million Medicare patients may meet clinical criteria for obesity medicines, and starting July 1, eligible patients will be able to get Zepbound or Foundayo for $50 per month," said Ilya Yuffa, executive vice president and president of Lilly USA and Global Customer Capabilities. "For many, this will be the first time obesity treatment has been within reach. We're proud to offer Foundayo and Zepbound, giving patients and their doctors a real choice between a daily pill that requires no planning around food or drink and the number 1 most prescribed injectable for weight loss.3 Both are proven to deliver meaningful weight loss when paired with a reduced calorie diet and increased physical activity."

How much do Foundayo (orforglipron) and Zepbound (tirzepatide) cost through the program?
Medicare Part D patients may be eligible for Foundayo or Zepbound for weight management for $50 a month, with a prior authorization and if they meet the Medicare GLP-1 Bridge Clinical Criteria and other CMS eligibility requirements. To learn more, visit www.lilly.com/lillydirect/medicare.

What are Foundayo (orforglipron) and Zepbound (tirzepatide)?
Foundayo (orforglipron) and Zepbound (tirzepatide) are two different Lilly medicines for chronic weight management, giving patients and their healthcare providers a choice of treatment options. Foundayo is a once-daily oral pill that can be taken any time of day, with no planning around food or drink. Zepbound is the most prescribed injectable weight management medication in the U.S. Both are FDA-approved to help adults with obesity, or some adults with overweight who also have weight-related medical problems, lose excess body weight and keep it off, along with a reduced-calorie diet and increased physical activity.

How do Foundayo (orforglipron) and Zepbound (tirzepatide) work in adults age 65 and older? 
In separate analyses of Phase 3 trials, both medicines were associated with meaningful weight loss in adults 65 and older, with safety profiles generally consistent with the overall study population. In a post-hoc analysis of ATTAIN-1, adults 65 and older without type 2 diabetes, experienced an average weight loss of 13% when taking the highest dose of Foundayo. In the ATTAIN program, Foundayo also led to reductions in many markers of cardiovascular risk, including waist circumference, non-HDL cholesterol, triglycerides and systolic blood pressure in adults of all ages.6

In a separate 72-week Phase 3 study, SURMOUNT-1, 56.7% of adults of all ages without type 2 diabetes taking Zepbound (15 mg) achieved at least 20% body weight reduction.7 In a prespecified subgroup analysis of this study, adults 65 and older without type 2 diabetes lost an average of 14.1% of their body weight when taking the lowest approved maintenance dose of Zepbound (5 mg), which is only one step up from the starter dose.8

"Obesity is a chronic, complex disease that deserves effective, long-term treatment options at every stage of life," said Rachel Batterham, senior vice president for Global Cardiometabolic Health at Lilly. "Data show Lilly's Foundayo and Zepbound were associated with meaningful weight loss in people aged 65 and older, with safety profiles generally consistent with other age groups, reinforcing that these medicines may be effective and appropriate for older adults."

Who is eligible for these medicines through the Medicare GLP-1 Bridge program?
To qualify, a person must meet all of the Medicare GLP-1 Bridge Clinical Criteria and other CMS eligibility requirements when treatment is started:9

Be 18 years of age or older Have Medicare Part D drug coverage (not all plan types are covered)† Have a valid prescription, be using, or planning to use, Foundayo or Zepbound for weight management, alongside lifestyle modification consistent with the FDA approved labels Have a Body Mass Index (BMI) of 35 or higher, or a BMI of 27 or higher with certain weight-related medical conditions (or have had one before starting a GLP-1 medicine) Patients currently receiving a GLP-1 through their Part D plan, those with type 2 diabetes, moderate-to-severe obstructive sleep apnea or fatty liver disease are not eligible (a Medicare Part D plan may already cover those conditions).

Patients can talk with their healthcare providers about whether they qualify or refer to https://www.medicare.gov/coverage/weight-loss-drugs.

How can eligible patients get started?
Starting July 1, 2026, eligible patients can begin in five steps:

Talk with a healthcare provider about whether Foundayo or Zepbound is right for them. Request that the provider send a prescription to LillyDirect Pharmacy or a retail pharmacy of their choice. Work with the chosen pharmacy. Ensure that the provider completes a prior authorization. Once approved, the patient pays $50 per month for Foundayo or Zepbound.  LillyDirect can help to determine eligibility and navigate the pre-authorization process. To learn more about eligibility, and see how to get started, visit www.lilly.com/lillydirect/medicare. For questions about Foundayo, Zepbound, or LillyDirect Pharmacy, call 1-844-559-3471.

About Foundayo (orforglipron)
Foundayo (orforglipron) is FDA-approved for adults with obesity, or some adults with overweight who also have weight-related medical problems to reduce excess body weight and maintain weight reduction long term, alongside a reduced-calorie diet and increased physical activity. Foundayo is a once-daily small molecule (non-peptide) oral glucagon-like peptide-1 receptor agonist that can be taken any time of the day with no planning around food or drink. Orforglipron was discovered by Chugai Pharmaceutical Co., Ltd. and licensed by Lilly in 2018. In addition to chronic weight management, orforglipron is being studied as a potential treatment for type 2 diabetes, obstructive sleep apnea, osteoarthritis knee pain, hypertension, peripheral artery disease and stress urinary incontinence.

About Zepbound (tirzepatide) injection
Zepbound (tirzepatide) is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced calorie diet and increased physical activity.

Warnings - Foundayo and Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

About ATTAIN-1 and ATTAIN-2 clinical trial program
The ATTAIN Phase 3 global clinical development program for Foundayo (orforglipron) has enrolled more than 4,500 people with obesity or overweight across two global registration trials.

ATTAIN-1 (NCT05869903) is a Phase 3, 72-week, randomized, double-blind, placebo-controlled trial comparing the efficacy and safety of Foundayo 5.5 mg, 9 mg and 17.2 mg as a monotherapy to placebo in adults with obesity, or overweight with at least one of the following comorbidities: hypertension, dyslipidemia, obstructive sleep apnea or cardiovascular disease, who did not have diabetes. The trial is the first Phase 3 study of this patient population in which treatment was evaluated as an adjunct to exercise and a balanced, healthy diet rather than a reduced-calorie diet. The trial randomized 3,127 (195 were 65 and older) participants across the U.S., Brazil, China, India, Japan, South Korea, Puerto Rico, Slovakia, Spain and Taiwan in 3:3:3:4 ratio to receive either 5.5 mg, 9 mg or 17.2 mg Foundayo or placebo. The primary objective of the study was to demonstrate that Foundayo (5.5 mg, 9 mg or 17.2 mg) is superior to placebo in body weight reduction from baseline after 72 weeks in people with a BMI ≥30.0 kg/m² or a BMI ≥27.0 kg/m² with at least one weight-related comorbidity and a history of at least one self-reported unsuccessful dietary effort to lose body weight.

ATTAIN-2 (NCT05872620) is a Phase 3, 72-week, randomized, double-blind, placebo-controlled trial comparing the efficacy and safety of Foundayo 5.5 mg, 9 mg or 17.2 mg as monotherapy with placebo in adults with obesity or overweight and type 2 diabetes. The trial randomized over 1,613 (418 were 65 and older) participants across the U.S., Argentina, Australia, Brazil, China, Czechia, Germany, Greece, India, South Korea and Puerto Rico in a 1:1:1:2 ratio to receive either 5.5 mg, 9 mg or 17.2 mg Foundayo or placebo. The primary objective of the study was to demonstrate that Foundayo (5.5 mg, 9 mg or 17.2 mg) is superior to placebo in mean body weight change from baseline at 72 weeks in people with a BMI ≥27.0 kg/m² and type 2 diabetes who are on stable treatment with either diet/exercise alone or up to three oral antihyperglycemic medications.

In both trials, all participants in the Foundayo treatment arms started the study at a dose of Foundayo 0.8 mg once-daily and then increased the dose in a step-wise approach at four-week intervals to their final randomized maintenance dose of 5.5 mg (via steps at 0.8 mg and 2.5 mg), 9 mg (via steps at 0.8 mg, 2.5 mg and 5.5 mg) or 17.2 mg (via steps at 0.8 mg, 2.5 mg, 5.5 mg, 9 mg and 14.5 mg). These trials were conducted using an investigational formulation of Foundayo at dosages equivalent to Foundayo tablets.

The post-hoc analysis included in this press release examined efficacy and safety outcomes in subgroups of participants aged <65 and ≥65 years. Efficacy outcomes were analyzed separately for each study; safety data were pooled. The primary endpoint was percent change in body weight from baseline in Week 72.

Limitations
This is a post-hoc, exploratory analysis of data from the ATTAIN-1 and ATTAIN-2 trials. Results are not pre-specified and should be considered hypothesis-generating. The subgroups analyzed (<65 year and ≥65 and) reflect the distribution of participants enrolled in the trials; the number of participants ≥65 is smaller than the <65 subgroup, and formal comparisons between age groups were not pre-specified. These findings will need to be confirmed in dedicated prospective analyses.

About SURMOUNT-1
Throughout the 72-week clinical trial, people who took Zepbound (tirzepatide) sustained weight loss—whether taking the 5 mg, 10 mg or 15 mg dose along with diet and exercise. In a 72-week study of adults without diabetes, average weight loss was 15.0% (34 lbs) for 5 mg, 19.5% (44 lbs) for 10 mg, 20.9% (48 lbs) for 15 mg, and 3.1% (7 lbs) for placebo. Average starting weights were 226.8 lbs for 5 mg, 233.3 lbs for 10 mg, 232.8 lbs for 15 mg, and 231.0 lbs for placebo.

Limitations of the SURMOUNT-1 prespecified subgroup analysis:

This was a prespecified sub‑group analysis among the secondary endpoints of the SURMOUNT‑1 study. This analysis was not adjusted for type I error.

Endnotes and References 
*Terms apply. Eligibility based on Medicare GLP-1 Bridge Clinical Criteria. Prescription required. Talk to your doctor to learn more.
†Ineligible plan types:

Private fee-for-service (PFFS) plans Section 1876 cost contract plans Section 1833 health care prepayment plans (HCPPs) PACE organizations Fallback plans Religious fraternal benefit (RFB) plans Centers for Medicare & Medicaid Services. Medicare and Medicaid Programs; Contract Year 2026 Policy and Technical Changes to the Medicare Advantage Program, Medicare Prescription Drug Benefit Program, Medicare Cost Plan Program, and Programs of All-Inclusive Care for the Elderly. Federal Register. December 10, 2024. Available at: https://www.govinfo.gov/content/pkg/FR-2024-12-10/pdf/2024-27939.pdf  Federal Interagency Forum on Aging-Related Statistics. Older Americans: key indicators of well-being. Published May 2024. Accessed February 4, 2026. https://agingstats.gov/docs/LatestReport/Older-Americans-2024-508-May-update.pdf   Based on IQVIA® National Prescription Audit (NPA) Data for both new and refill prescriptions (total) in the U.S. as of 01/10/2025. Data accessed 01/14/2026, representing 94% of prescription data in US. Total prescription volumes and shares for obesity management therapies include Zepbound®, Wegovy®, Saxenda®, Belviq®, Contrave®, Qsymia®, Xenical® and other obesity management medicines. Other product/company names mentioned are the trademarks of their respective owners. Foundayo. Prescribing Information. Lilly USA, LLC. Zepbound. Prescribing Information. Lilly USA, LLC.   Horn DB, et al. Orforglipron for Obesity Treatment in Older Patients ≥65 Years With or Without Type 2 Diabetes. Presented at: European Congress on Obesity (ECO); May 12–15, 2026; Istanbul, Turkey.  Jastreboff AM, Aronne LJ, Ahmad NN, et al. Tirzepatide once weekly for the treatment of obesity. N Engl J Med. 2022;387(3)(Incl suppl mat):205-216. doi:10.1056/NEJMoa2206038 Data on File. DOF-ZP-US-0060. Lilly USA, LLC. Medicare GLP-1 Bridge. CMS.gov, Centers for Medicare & Medicaid Services, www.cms.gov/medicare/coverage/prescription-drug-coverage/medicare-glp-1-bridge. Accessed 24 June 2026. INDICATION AND SAFETY SUMMARY WITH WARNINGS
Foundayo (fown-DAY-oh) is a prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off.

Foundayo should not be used with other GLP-1 receptor agonist medicines. It is not known if Foundayo is safe and effective for use in children. Warnings – Foundayo may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Foundayo if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Foundayo if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Foundayo if you have had a serious allergic reaction to orforglipron or any of the ingredients in Foundayo. Foundayo may cause serious side effects, including:

Inflammation of the pancreas (pancreatitis). Stop taking Foundayo and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes you may feel the pain from your abdomen to your back.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Foundayo. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Foundayo with medicines that can cause low blood sugar, such as an insulin or sulfonylurea. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness, or feeling jittery.

Serious allergic reactions. Stop using Foundayo and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Foundayo.

Gallbladder problems. Gallbladder problems have happened in some people who use Foundayo. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Foundayo may increase the chance of food getting into your lungs during surgery or other procedures. Tell your healthcare providers that you are taking Foundayo before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Foundayo include nausea, constipation, diarrhea, vomiting, indigestion, stomach (abdominal) pain, headache, swollen belly, feeling tired, belching, heartburn, gas, and hair loss. These are not all the possible side effects of Foundayo. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before taking Foundayo

Tell your healthcare provider about all the medicines you take. Foundayo may affect the way some medicines work, and some medicines may affect the way Foundayo works. Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Foundayo during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Eli Lilly and Company at 1-800-LillyRx (1-800-545-5979). If you take birth control pills by mouth, talk to your healthcare provider before you take Foundayo. Birth control pills may not work as well while taking Foundayo. Your healthcare provider may recommend another type of birth control for 30 days after starting Foundayo and for 30 days after each dose increase of Foundayo. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. Review these questions with your healthcare provider:

❏ Do you have other medical conditions, including problems with your pancreas or kidneys, or severe problems with your liver, severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❏ Do you have a history of diabetic retinopathy?
❏ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❏ Are you pregnant or plan to become pregnant? Foundayo may harm your unborn baby.
❏ Are you breastfeeding or plan to breastfeed? Breastfeeding is not recommended during treatment with Foundayo.
❏ Do you take any other prescriptions or over-the-counter medicines, vitamins, or herbal supplements?

How to take

Take Foundayo exactly as your healthcare provider tells you to. Use Foundayo with a reduced-calorie diet and increased physical activity. Take Foundayo by mouth 1 time each day, with or without food. Swallow tablets whole. Do not break, crush, or chew the tablet. If you miss a dose, take it as soon as possible. Do not take 2 doses of Foundayo in the same day. Do not take more than 1 tablet per day. If you miss taking Foundayo for 7 or more days in a row, call your healthcare provider to talk about how to restart your treatment. If you take too much Foundayo, call your healthcare provider or Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Foundayo is a prescription medicine available in 0.8 mg, 2.5 mg, 5.5 mg, 9 mg, 14.5 mg, or 17.2 mg oral tablets. For more information, call 1-800-545-5979 or go to foundayo.lilly.com.

This summary provides basic information about Foundayo but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your doctor. Be sure to talk to your doctor or other healthcare provider about Foundayo and how to take it. Your doctor is the best person to help you decide if Foundayo is right for you.

OG CON BS APR2026

INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off. moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without vomiting. You may feel pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effects that bothers you or don't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Zepbound

Your healthcare provider should show you how to use Zepbound before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider:

❏ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❏ Do you take diabetes medicines, such as insulin or sulfonylureas?
❏ Do you have a history of diabetic retinopathy?
❏ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❏ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❏ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979). How to take

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.zepbound.lilly.com.

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS 25FEB2026

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995), including statements about the supply and access of Zepbound (tirzepatide) and Foundayo (orforglipron) as a treatment for adults with obesity or overweight and Foundayo as a treatment for adults with obesity or some adults with overweight who also have weight-related medical problems and reflects Lilly's current belief and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, access, and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date, that Zepbound or Foundayo will receive additional regulatory approvals, or that Lilly will execute its access and other strategies as planned. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

CMAT-23048 6/2026 ©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of AECOM ("AECOM" or the "Company") (NYSE: ACM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether AECOM and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On May 11, 2026, AECOM announced its second quarter fiscal 2026 results, including, in relevant part, that quarterly operating cash flow was $4 million, down 98% year over year, and adjusted free cash flow which swung to negative $27 million. In the accompanying earnings call, the Company's Chief Financial Officer, Gaurav Kapoor, revealed that "longer-than-anticipated claim resolution on certain projects" among other things, impacted the quarter. Kapoor further stated these were "projects we bid in fiscal year 2019 and 2020, two projects" for two clients, and that "individual claims for these two clients have gone through the resolution process. And we've been successful on each one of them. But it's just been very slow and dragged out on the resolution process. That is what has surprised us as to how long the process has taken." Then, on May 12, 2026, AECOM filed its quarterly report on Form 10-Q, which showed that significant claims recorded in contract assets and other non-current assets were approximately $680 million as of March 31, 2026, compared with approximately $400 million as of September 30, 2025. 

Following these disclosures, AECOM's stock price fell $9.55 per share, or 12%, to close at $69.95 per share on May 12, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

Honda Motor’s CEO and President, Toshihiro Mibe attends a media briefing about financial results in Tokyo, Japan, May 14, 2026. REUTERS/Kim Kyung-Hoon Purchase Licensing Rights, opens new tab

CompaniesTOKYO, June 26 (Reuters) - Honda Motor (7267.T), opens new tab Chief Executive Toshihiro Mibe secured support for his reappointment to the Japanese automaker's board at its annual ​meeting on Friday after apologising to shareholders for the company's poor financial ‌performance.

Honda is seeking to recover from costly strategic missteps after posting its first annual loss in seven decades last month, hurt by more than $9 billion in restructuring costs for its electric-vehicle business and ​competition from Chinese rivals.

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"I would like to express my deepest apologies to our ​shareholders for the significant concern and inconvenience caused by the net ⁠loss recorded in the previous fiscal year's financial results," Mibe told shareholders at the ​start of the meeting.

Aside from backing Mibe, Honda shareholders approved the company's 10 other ​board nominees, including nine who were up for reappointment and one new director.

Amid an EV subsidy rollback, Honda decided on its EV-linked writedown with market share of battery-powered cars in the U.S. sharply ​below the company's forecasts, meaning sales of its planned models would have required ​big incentives, Mibe said.

If it would have gone ahead with selling its planned EVs, "it would mean the ‌automotive ⁠business itself staying in the red for at least five years, possibly as long as seven," Mibe said, adding that it would have created an extremely critical situation at the company.

In recent months, Mibe has drawn scorn from retired Honda executives over ​the mishaps, with former ​chief executive Nobuhiko ⁠Kawamoto visiting Tokyo headquarters in April to urge him to resign, people familiar with the matter have told Reuters.

The former executives have criticised ​Mibe for neglecting China, the world's biggest auto market, and ​for the ⁠company's failed bet on EVs that caused Honda's loss and highlighted a growing dependence on its profitable motorcycle division.

Near the end of the meeting, a shareholder proposed filing a motion ⁠that ​called for Mibe's dismissal, but the chief executive declined ​to put it to a vote, saying the issue was not on the agenda and the proposal ​could therefore not be considered.

Reporting by Daniel Leussink; Editing by Thomas Derpinghaus and Kevin Buckland

Our Standards: The Thomson Reuters Trust Principles., opens new tab

For much of the AI boom, Nvidia (NVDA 1.86%) has been the stock market darling.

The stock started soaring shortly after the release of ChatGPT in Nov. 2022 as it was primed to benefit from demand for its GPUs, which are used for AI training.

Since then, the stock has gained more than 1,000%, and Nvidia has become the most valuable company in the world, with a market cap of nearly $5 trillion.

However, in 2026, chip stock investors seemed to have moved on from the industry leader, piling into the new chip sector bottlenecks, including memory chip stocks like Micron and Sandisk, which are experiencing a shortage, and CPU stocks like Intel, AMD, and Arm Holdings, which are expected to benefit from increasing demand for AI inference.

As a result, Nvidia's performance has been downright pedestrian this year. At nearly the halfway point of 2026, Nvidia stock is up just 4%, compared to an 8% gain in the S&P 500, and a 9% increase in the Nasdaq Composite. The iShares Semiconductor ETF, which tracks the sector, has more than doubled this year due to breakout gains from Intel, Micron, and other stocks, rather than Nvidia.

Today's Change

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-3.71

Current Price

$

195.29

While Nvidia stock is slumping, down 17% from its peak in May, the business performance remains excellent. Revenue jumped 85% in the first quarter to $81.6 billion, and adjusted net income rose 139% $45.5 billion. Nvidia's net income is on track to top $200 billion this year, easily making it the most profitable company in the world. To put that number into perspective, only a few dozen companies make that much in annual revenue. $200 billion is similar to the GDP of countries like Ukraine and Qatar.

Based on its trailing adjusted earnings per share of $5.84, the stock now has a price-to-earnings ratio of 33, which is modestly more expensive than the S&P 500, at 26.

Image source: Nvidia.

Where Nvidia starts to look like a bargain The trailing valuation isn't the best way to look at Nvidia. After all, this is a company that just grew revenue by 85% and more than doubled its net income. You have to factor in its growth and its direction.

Below is the consensus EPS forecast for Nvidia for the next three years.

Fiscal year endingEPS consensusJan. 2027$8.69Jan. 2028$11.67Jan. 2029$15.76 Source: Nasdaq.com

Nvidia reported $4.77 in adjusted EPS last year, so analysts expect EPS to nearly double this year and to more than triple over the next three years.

Based on fiscal 2029 estimates, the stock looks ridiculously cheap, trading at just 12 times expected earnings. That's a valuation normally reserved for no-growth or slow-growth stocks in sleepy industries like banking and manufacturing.

Nvidia, on the other hand, has been one of the most disruptive companies of the decade and is still growing like wildfire.

Is Wall Street right? It's worth remembering that the numbers in the chart above are just forecasts, and the further out they go, the more inaccurate they become. A lot could change between now and Jan. 2029.

However, investors should also be aware that analysts have significantly underestimated the sustainability of the AI boom and Nvidia's growth.

The chart below shows how Wall Street's estimates for Nvidia's next fiscal-year revenue have changed.

NVDA Revenue Estimates for Next Fiscal Year data by YCharts

Through much of 2025, Wall Street thought Nvidia would bring in around $250 billion in revenue for the current fiscal year (fiscal 2027). Instead, Nvidia is on track for close to $400 billion in revenue this year. That's a huge miss; Wall Street simply did not expect the company's growth rate to reaccelerate, which it has in recent quarters.

Why Nvidia looks so undervalued The best explanation for why the stock is trading at just 12 times fiscal 2029 earnings is that investors don't believe these profits are sustainable over the long term. According to that argument, semiconductors are historically cyclical, and when the massive AI capex build-out slows down, so will demand for Nvidia chips.

The debate over whether there's an AI bubble has been brewing for nearly a year now, and there's no clear answer. Last night's earnings report from Micron showed that there's still a huge shortage in memory chips, which seems bullish for companies like Nvidia. While Nvidia is a customer of Micron, the memory shortage means that demand for AI chips like Nvidia's would be even higher if there were sufficient memory supply. In other words, Nvidia's revenue could be even higher than what it is now. Nonetheless, Nvidia stock fell on the news.

At some point, there will likely be a peak in the AI chip cycle, and depending on valuations, there will be a pullback in some stocks. If that happens, some observers will surely say the AI bubble has burst.

However, that risk seems more than priced into Nvidia stock at this point, and Wall Street has thus far been too conservative, underestimating its growth. While the fiscal 2029 EPS forecast is probably wrong, there's a good chance that it's wrong because it's too low, rather than too high.

Apple (AAPL - Free Report) ended the recent trading session at $275.15, demonstrating a -6.12% change from the preceding day's closing price. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.46%.

Shares of the maker of iPhones, iPads and other products have depreciated by 5.72% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.57%, and the S&P 500's loss of 1.4%.

The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is expected to report EPS of $1.88, up 19.75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $108.71 billion, indicating a 15.6% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.74 per share and a revenue of $478.03 billion, indicating changes of +17.16% and +14.87%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Apple is currently a Zacks Rank #2 (Buy).

In the context of valuation, Apple is at present trading with a Forward P/E ratio of 33.52. This represents a premium compared to its industry average Forward P/E of 22.99.

Investors should also note that AAPL has a PEG ratio of 2.55 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 2.07.

The Computer - Micro Computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 20, positioning it in the top 9% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

BlackRock (BLK - Free Report) closed at $971.92 in the latest trading session, marking a -1.09% move from the prior day. This change lagged the S&P 500's daily loss of 0.01%. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq decreased by 0.46%.

Prior to today's trading, shares of the investment firm had lost 8.2% lagged the Finance sector's gain of 2.29% and the S&P 500's loss of 1.4%.

Market participants will be closely following the financial results of BlackRock in its upcoming release. The company is predicted to post an EPS of $12.43, indicating a 3.15% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.67 billion, up 23.03% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $52.8 per share and revenue of $27.65 billion, indicating changes of +9.79% and +14.19%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, BlackRock is carrying a Zacks Rank of #3 (Hold).

Looking at its valuation, BlackRock is holding a Forward P/E ratio of 18.61. Its industry sports an average Forward P/E of 11.34, so one might conclude that BlackRock is trading at a premium comparatively.

One should further note that BLK currently holds a PEG ratio of 1.28. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 0.99 at yesterday's closing price.

The Financial - Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 200, this industry ranks in the bottom 19% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

PORTLAND, Tenn., June 25, 2026 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals”) (Nasdaq: SHLS), a global leader in electrical infrastructure solutions for the energy transition market, announced a decisive victory in its patent infringement action against Voltage, LLC (“Voltage”) after the U.S. International Trade Commission affirmed the Administrative Law Judge’s (ALJ) ruling. The decision delivers a final determination that Voltage violated Section 337 of the Tariff Act of 1930 by importing infringing LYNX trunk bus products into the United States.

The ruling confirms that Shoals’ patented technology was improperly used and provides important validation of the company’s long-standing investment in innovation, engineering, and U.S.-based manufacturing. The decision reinforces the intent of Section 337 of the Tariff Act: to protect American intellectual property and ensure competition is governed by clear, enforced rules, particularly important in critical energy infrastructure.

“We’re proud to defend American intellectual property and the innovators who design, invent, and manufacture in the U.S.,” said Brandon Moss, CEO of Shoals. “Protecting intellectual property is essential to securing America’s energy future, and we appreciate the ITC’s decision in reinforcing that. Shoals will continue to champion U.S. innovation and manufacturing by investing at home, protecting its intellectual property, and helping build a resilient American energy supply chain.”

Shoals designs and manufactures its products in Tennessee and has made sustained investments in domestic innovation, advanced manufacturing, and workforce development, most recently proven by the announcement of the grand opening of their Mega facility in Portland, TN. Its patented technologies reflect decades of engineering expertise and continued commitment to American manufacturing leadership.

Shoals emphasized that the outcome supports a level playing field across the industry, particularly as demand for solar and energy infrastructure continues to grow. Enforcing IP rights is essential to maintaining the incentives that drive innovation, quality, and safety, especially as foreign, low-cost manufacturers, seek to compete in the U.S. market.

“Protecting American innovation is critical, not just for Shoals, but for the long-term competitiveness of U.S. energy infrastructure,” said Moss. “This ruling sends a clear message that intellectual property rights will be upheld, and that companies operating in this market must do so fairly.”

As part of the final determination, the ITC issued a limited exclusion order that will restrict Voltage's ability to import the infringing product. This case now moves to the 60-day presidential review period. In order to sell their infringing product within the U.S. during that period, Voltage must put up a bond equal to 100% of the "entered value of the articles subject to the order."

Shoals remains focused on delivering reliable, high-performance solutions to their customers while continuing to invest in domestic manufacturing and future product development.

About Shoals Technologies Group
Shoals Technologies Group is a leading manufacturer of advanced electrical infrastructure solutions for mission critical applications across utility scale solar, battery storage, and data center power systems. Since its founding in 1996, the Company has designed innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability at scale. Shoals Technologies Group is a recognized leader in the energy transition industry. For additional information, please visit: https://www.shoals.com. 

Forward-Looking Statements:

This press release contains forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “likely,” “estimate,” “anticipate,” “objective,” “predict,” “project,” “drive,” “seek,” “aim,” “target,” “potential,” “commitment,” “outlook,” “continue,” “goal” or any other similar words are intended to identify our forward-looking statements. Although we believe that the expectations and assumptions reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in these forward-looking statements. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation except as required by applicable law or regulation. For important information on forward-looking statements, please see our most recent earnings release for Q1 2026 on our investor website at https://investors.shoals.com.

Media Relations
Lindsey Williams, VP of Marketing and External Communications
[email protected]

Investor Relations
Matt Tractenberg, VP of Finance and Investor Relations
[email protected]

TJX (TJX - Free Report) closed the most recent trading day at $155.19, moving -6.04% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.46%.

Shares of the parent of T.J. Maxx, Marshalls and other stores witnessed a gain of 5.2% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 5.64%, and the S&P 500's loss of 1.4%.

The investment community will be closely monitoring the performance of TJX in its forthcoming earnings report. The company is forecasted to report an EPS of $1.17, showcasing a 6.36% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $15.12 billion, indicating a 5.02% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $63.9 billion, which would represent changes of +9.3% and +5.85%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for TJX. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.28% rise in the Zacks Consensus EPS estimate. TJX presently features a Zacks Rank of #2 (Buy).

Looking at its valuation, TJX is holding a Forward P/E ratio of 31.96. This signifies a premium in comparison to the average Forward P/E of 28.85 for its industry.

Meanwhile, TJX's PEG ratio is currently 3.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TJX's industry had an average PEG ratio of 2.57 as of yesterday's close.

The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

AppLovin (APP - Free Report) ended the recent trading session at $445.93, demonstrating a -4.09% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.01%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.46%.

Heading into today, shares of the mobile app technology company had lost 18.12% over the past month, lagging the Business Services sector's loss of 1.21% and the S&P 500's loss of 1.4%.

The upcoming earnings release of AppLovin will be of great interest to investors. On that day, AppLovin is projected to report earnings of $3.7 per share, which would represent year-over-year growth of 63.72%. Alongside, our most recent consensus estimate is anticipating revenue of $1.94 billion, indicating a 54.14% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $15.86 per share and a revenue of $8.26 billion, demonstrating changes of +57.97% and +42.34%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AppLovin. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. AppLovin presently features a Zacks Rank of #3 (Hold).

In terms of valuation, AppLovin is currently trading at a Forward P/E ratio of 29.32. This signifies a premium in comparison to the average Forward P/E of 15.61 for its industry.

We can additionally observe that APP currently boasts a PEG ratio of 0.76. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.4.

The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 34% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

In the latest close session, Analog Devices (ADI - Free Report) was up +1.15% at $417.93. This change outpaced the S&P 500's 0.01% loss on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.46%.

Heading into today, shares of the semiconductor maker had lost 0.89% over the past month, outpacing the Computer and Technology sector's loss of 2.57% and the S&P 500's loss of 1.4%.

Investors will be eagerly watching for the performance of Analog Devices in its upcoming earnings disclosure. In that report, analysts expect Analog Devices to post earnings of $3.33 per share. This would mark year-over-year growth of 62.44%. Alongside, our most recent consensus estimate is anticipating revenue of $3.93 billion, indicating a 36.28% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $12.41 per share and revenue of $14.58 billion, which would represent changes of +59.31% and +32.29%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Analog Devices. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% higher. Analog Devices presently features a Zacks Rank of #2 (Buy).

With respect to valuation, Analog Devices is currently being traded at a Forward P/E ratio of 33.29. This denotes a discount relative to the industry average Forward P/E of 59.62.

One should further note that ADI currently holds a PEG ratio of 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 1.1 at yesterday's closing price.

The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 3% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Winnebago Industries, Inc. (WGO) Q3 2026 Earnings Call June 25, 2026 10:00 AM EDT

Company Participants

Joan Ondala
Michael Happe - CEO, President & Director
Bryan Hughes - SVP of Investor Relations, Finance, Information Technology and Business Development & CFO

Conference Call Participants

Craig Kennison - Robert W. Baird & Co. Incorporated, Research Division
Tristan Thomas-Martin - BMO Capital Markets Equity Research
Bret Jordan - Jefferies LLC, Research Division
Scott Stember - ROTH Capital Partners, LLC, Research Division
Noah Zatzkin - KeyBanc Capital Markets Inc., Research Division
Brandon Rollé - Loop Capital Markets LLC, Research Division
Gerrick Johnson - Seaport Research Partners

Presentation

Operator

Welcome to the Winnebago Industries Third Quarter Fiscal 2026 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference call is being recorded. I would now like to hand the call over to Joan Ondala, Vice President, Treasury and Investor Relations. Ms. Ondala, please go ahead.

Joan Ondala

Thank you, operator. Good morning, everyone, and thank you for joining us to discuss our fiscal 2026 third quarter results. This call is being broadcast live on our website at investor.wgo.net, and an audio replay of the call will be available on our website later today. The news release with our third quarter results was issued and posted to our website earlier this morning. Please note that the earnings slide deck, which accompanies our prepared remarks, is also available in the Investors section of our website under Quarterly Results.

Turning to Slide 2. Certain statements made during today's conference call regarding Winnebago Industries and its operations may be considered forward-looking statements under securities law. The company cautions you that forward-looking statements involve a number of risks and are inherently uncertain. A number of factors, many of which are beyond the company's control, could cause the actual results to differ materially from these statements. These factors are identified

, /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) (the "Company" or "Gates Industrial Corporation") today announced that its shareholders have overwhelmingly voted in favor of the Company's proposals in connection with the Company's intention to change its place of incorporation from England and Wales to Bermuda (the "Redomiciliation").

Gates Industrial Corporation's shareholders voted in favor of all proposals related to the Redomiciliation at a series of shareholder meetings held earlier today. The percentage of votes in favor of each proposal voted on at the meetings was approximately 99.6% of votes cast.

"We thank our shareholders for their strong support in approving the Redomiciliation of our parent company from England and Wales to Bermuda," said Ivo Jurek, Chief Executive Officer of Gates Industrial Corporation. "The change enhances capital and strategic flexibility while sustaining strong corporate governance and reducing administrative complexity and cost."

The Company will now proceed with the relevant legal and regulatory procedures required to implement the Redomiciliation, including seeking the sanction (i.e. approval) of the UK court, and expects the effective date to be July 20, 2026. The Company will include a more detailed timeline in its Current Report on Form 8-K to be filed with the Securities and Exchange Commission ("SEC") today. However, the effective date remains subject to change and will depend on, among other things, the date on which all the conditions are satisfied or, if capable of waiver, waived.

About Gates Industrial Corporation plc
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse aftermarket channel customers, and to original equipment manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications, including virtually every form of transportation. Our products are sold in more than 130 countries across our three commercial regions: the Americas; Europe, Middle East & Africa; Asia-Pacific. For more information, visit gates.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to the Redomiciliation, including the timing of the effective time of the Redomiciliation and our expectations related to the benefits of the Redomiciliation and other initiatives. Such forward-looking statements are subject to various risks and uncertainties, including, among others, U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time, changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, of key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems, our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

SOURCE Gates Industrial Corporation plc

© Mario Tama / Getty Images News via Getty Images

Apple (NASDAQ:AAPL | AAPL Price Prediction) became the focal point of a CNBC investment-committee debate after the company raised prices across its Mac, iPad, HomePod, and Vision Pro lines to offset surging memory and storage chip costs. The move sent the stock down 6.2% on Thursday, June 25. Now, some investors are wondering whether this marks a good entry point for the stock.

The Catalyst: A “Hundred-Year Flood” in Memory CEO Tim Cook described the supply backdrop as a “hundred-year flood” for memory and storage costs, with AI data-center demand driving component prices sharply higher. Apple pre-announced Mac price increases of 15-20% and iPad increases of 15-25%, with dollar hikes ranging from $100 to $300 on affected SKUs. iPhone, Apple Watch, and AirPods pricing was left unchanged, though the company flagged the potential for further adjustments.

The Committee’s Split View The segment framed the central risk as “demand destruction,” with the concern being that raising prices could lower consumers’ appetite for new products. One committee member countered that the stock found support near its April low, coinciding with a rising 200-day moving average around $269. That technical reference lines up with Apple’s 200-day SMA at $268.6338 on June 24, 2026, up from roughly $248.28 in early April.

Another panelist offered the bull case directly: “If I’m a trader, I’m standing back, but if I’m an investor, I think it’s a great opportunity,” arguing Apple has more pricing power than any other company in the market. Wedbush maintained an Outperform rating through the drop, viewing the price increases as the first formal pass-through of rising component costs and expressing confidence in Apple’s ability to navigate the “memory storm.”

What the Fundamentals Say In Q2 FY26, Apple posted revenue of $111.18 billion, up 16.6% year over year, with diluted EPS of $2.01 beating the $1.94 consensus, the eighth consecutive EPS beat. Cook called it Apple’s “best March quarter ever,” citing iPhone revenue of $56.99 billion on iPhone 17 demand and record Services revenue of $30.98 billion. The board also authorized a new $100 billion buyback and lifted the dividend 4% to $0.27 per share.

Margins have been expanding faster than the top line. Gross profit grew 22.1% year over year against 16.6% revenue growth, a sign of pricing leverage that supports the “pricing power” argument.

Where Traders and Markets See the Stock Technical indicators help explain why the CNBC panel was divided. As of June 24, 2026, Apple’s 14-day RSI stood at 45.84, putting the stock in neutral territory rather than oversold. Meanwhile, Polymarket traders assigned a 93.6% probability that Apple would finish the week above $270, but only a 45.0% chance it would close above $280, suggesting expectations for further near-term upside remain mixed.

Wall Street is more optimistic over the longer term. The consensus analyst price target is $314.42, supported by 30 Buy ratings, 15 Holds, and just 3 Sells. However, Arthur D. Levinson, Apple’s Chairman of the Board of Directors, sold more than 270,000 shares during May, and recent insider activity has been skewed toward selling rather than buying. However, much of that selling appears to be tied to scheduled vesting and prearranged Rule 10b5-1 trading plans.

What to Watch Next The key question is whether Apple’s higher prices will hurt demand. If Mac and iPad sales remain strong despite the price increases, it would reinforce the company’s pricing power and ease concerns about margin pressure. If demand weakens during the back-to-school and holiday shopping seasons, it would support the argument that higher prices are beginning to discourage buyers.

For now, both sides have evidence to support their case. Apple trades at roughly 36 times earnings, while its 200-day moving average continues to provide an important technical support level. Traders are staying cautious in the near term, while longer-term investors see the recent pullback as a potential buying opportunity.

While Amazon (AMZN 3.38%) has achieved incredible success with its e-commerce business, forays into brick-and-mortar stores have proven to be a struggle. The company closed its Amazon Go and Amazon Fresh locations this year. So when reports surfaced of a massive 229,000-square-foot superstore in a Chicago suburb, this seemed like Amazon's latest attempt at throwing spaghetti at the wall to see what sticks.

That said, the project is not necessarily a doomed effort this time. Media attention has highlighted the e-commerce giant's attempt to outdo competitor Walmart's superstore concept, which typically runs 179,000 square feet. However, the new big-box retail location may serve a key purpose in helping Amazon cement its supremacy in online sales.

Image source: Amazon.

The advantage of Amazon's new superstore The new store is not just about a bigger emporium to sell more stuff. Part of the space will be dedicated to storing items. In essence, Amazon's new retail concept will also serve as a mini-warehouse.

This is a key element in the design. It gives Amazon a storage location closer to customer homes, providing greater flexibility for its massive logistics operations and enabling speedier shipping. These attributes are desirable because, as Amazon CEO Andy Jassy explains, "Despite many improvements over the years, customers always want lower costs and faster delivery speed."

The ability to accelerate shipping translates into more revenue. According to Jassy, "When we promise faster delivery times, customers complete purchases at a meaningfully higher rate and shop with us more frequently."

To that end, Amazon created a new streamlined warehouse format called Same-Day Fulfillment Centers. These facilities carry the top sellers, with the goal of delivering an item within the day it is ordered.

The company is also experimenting with an ultra-fast delivery service called Amazon Now, which aims to get items to customers within 20 minutes using micro-fulfillment centers. The service is only in select international markets, and in these countries, Amazon Now orders are increasing 25% month over month. Prime members triple their shopping frequency after they start using it.

The company is looking to expand Amazon Now in the U.S. and Europe. The new superstore could be part of this plan, serving as a micro-fulfillment center.

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Other benefits of Amazon's new retail store The company has extended its delivery capabilities to third-party sellers, meaning Amazon's new superstore concept could help them, too. Third-party sellers are a key component of the tech titan's sales growth. They contributed $41.6 billion of Amazon's $181.5 billion in first-quarter sales.

The company also offers shoppers the option to pick up their purchases from retail locations, such as its Whole Foods stores. Sending products to a central place rather than getting them to individual customer homes simplifies shipping for Amazon. The superstore can expand the retailer's pickup spots.

Of course, the new big-box location will generate its own income through product sales. The question is whether it can do so more successfully than the company's previous efforts. If the concept can produce sufficient sales and serve as a hub for faster deliveries, additional superstores are likely to extend into cities across the country. At that point, it can have a meaningful impact on Amazon's financials and potentially its stock price.

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Caterpillar (NYSE: CAT | CAT Price Prediction) has been one of the more surprising mega-cap winners of 2026, riding a record backlog, AI-driven power generation demand, and aggressive capital returns to fresh highs. With the stock now changing hands above $1,038, the question is whether the next leg requires fresh fundamental fuel or a pause.

Our 24/7 Wall St. price target for Caterpillar is $1,061.82, implying modest 2.28% upside over the next 12 months. We rate the stock a hold with high confidence (90%). The fundamentals remain excellent, but the valuation has caught up.

24/7 Wall St. Price Target Summary Metric Value Current Price $1,038.19 24/7 Wall St. Price Target $1,061.82 Upside 2.28% Recommendation HOLD Confidence Level 90% A Power Generation Story Built on a Construction Base Caterpillar shares are up 74.34% year to date and 169.49% over the past year, with a 13.02% gain in the past month alone. CAT now trades just 7% off its 52-week high of $1,023.29, a remarkable run from last summer’s low of $369.05.

The Q1 2026 earnings report on April 30 sealed the rally. EPS came in at $5.54 against a $4.64 consensus, while revenue of $17.41 billion grew 22.22% year over year. Construction Industries surged 38%, and Power Generation jumped 41% to $2.82 billion on data center demand for large reciprocating engines and turbines. CEO Joe Creed pointed to “a record backlog” as the foundation for continued momentum.

Why Bulls See a Breakout Above $1,113 The bull case rests on the AI infrastructure cycle. Power Generation has now grown 28%, 31%, 44%, and 41% across the last four quarters. PineBridge analysts argue data center equipment growth is “essentially locked in for the next four to five years” at roughly 25% annually given electrical infrastructure constraints.

Layer on a record backlog, Construction Industries expanding margins to 21.4%, and $5 billion of Q1 buybacks, and the bull scenario gets you to our $1,113.73 upside target.

The Risks Worth Watching The bear case is the price, the tariffs, and the multiple. CAT trades at a forward P/E of 41x, well above its historical range. Management guided full-year tariff impact of $1.30 to $1.50 billion, and Resource Industries segment profit fell 39% in Q1. Insiders are net sellers across 66 recent transactions.

The Street’s consensus target of $949.68 sits below the current price, and our bear case scenario implies $842.92, an 18.81% drawdown. Bulls would counter that margin compression reflects transitory tariff absorption rather than structural deterioration, and that the dealer inventory build supports a longer cycle.

Caterpillar Price Prediction 2026-2030 The 24/7 Wall St. price target of $1,061.82 earns a hold with 90% confidence. The business is excellent. The stock has simply priced in a lot of that excellence after a 169.49% one-year run.

A pullback toward the 200-day moving average near $673, or confirmation that tariff costs roll off into 2027, would reset the entry case. The setup weakens if Power Generation growth decelerates below 20% or if Resource Industries margins continue to compress.

Year 24/7 Wall St. Price Target 2026 $1,061.82 2027 $1,108.22 2028 $1,154.63 2029 $1,201.03 2030 $1,247.43 These projections assume Caterpillar continues converting its record backlog while tariff pressures normalize. Significant upside could come from accelerated data center capex, while a U.S. infrastructure slowdown or commodity downturn would test the floor.