Track market-moving stories before they get noisy

The market expects IREN Limited (IREN - Free Report) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 5. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of -35.3%.

Revenues are expected to be $219.95 million, down 8.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 40.06% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for IREN Limited?For IREN Limited, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +36.96%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that IREN Limited will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that IREN Limited would post a loss of$0.5 per share when it actually produced a loss of -$0.41, delivering a surprise of +18.00%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

IREN Limited appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Financial - Miscellaneous Services industry, Chime Financial, Inc. (CHYM - Free Report) , is soon expected to post earnings of $0.09 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +160%. Revenues for the quarter are expected to be $705.18 million, up 29.7% from the year-ago quarter.

The consensus EPS estimate for Chime Financial, Inc. has been revised 1.1% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -5.10%.

This Earnings ESP, combined with its Zacks Rank #1 (Strong Buy), makes it difficult to conclusively predict that Chime Financial, Inc. will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Sandisk Corporation (NASDAQ:SNDK) will release its first-quarter earnings report after the closing bell on Thursday, Oct. 29.

Transactions climbed far less than addresses on Oct. 28, while user-paid fees stayed close to the preceding week's median.

Transactions climbed far less than addresses on Oct. 28, while user-paid fees stayed close to the preceding week's median.

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CertiK has partnered with Arbitrum and Robinhood Crypto through the Arbitrum Mentorship Program, providing early-stage Web3 startups with security tools, expert guidance and resources to help bring their products to market.

The initiative aims to help emerging blockchain teams navigate the challenges of building and launching new products, from technical development and fundraising to market entry and user protection. Through the partnership, CertiK will help participating founders address security risks early in the development process rather than treating security as a final step before launch.

As part of its contribution, CertiK will offer participating teams access to its AI Auditor and Skynet platforms, discounted security assessments, and tailored mentorship spanning security, technology, business development and go-to-market strategy.

AI Auditor is designed to help developers identify potential vulnerabilities in smart contracts using AI-powered analysis, while Skynet provides security monitoring and insights into blockchain projects. Together with professional security services and mentorship, these resources are intended to give founders additional support as they develop and scale their products.

The partnership also includes further benefits for winning teams. These include extended access to AI Auditor, priority scheduling for security audits ahead of product launches, regulatory guidance tailored to their target markets, and promotional opportunities to help increase visibility.

The Arbitrum Mentorship Program brings together mentors, investors and ecosystem partners to support startups as they work through the technical and commercial challenges of building Web3 businesses. The involvement of CertiK, Arbitrum and Robinhood Crypto connects participating teams with expertise across blockchain infrastructure, security and the broader digital asset industry.

For early-stage projects, security vulnerabilities can pose significant risks to users and undermine confidence in a product, particularly as it begins attracting capital and on-chain activity. Providing founders with access to security assessments and technical guidance during development can help teams identify weaknesses earlier and make more informed decisions before deployment.

“Arbitrum and Robinhood Crypto are creating valuable opportunities for early-stage teams to grow while keeping their future users in mind,” said Ronghui Gu, Co-Founder and CEO of CertiK. “We’re pleased to contribute to this effort by helping founders address security early and build a stronger foundation for long-term growth.”

Through the partnership, CertiK aims to make security expertise more accessible to emerging Web3 teams, helping founders incorporate risk management into product development as they work toward launch and long-term adoption.

AUTHOR

A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities

EURGBP failed to break above channel resistance and reversed sharply lower. A deeper WXY correction could target the 0.83–0.82 zone after a potential corrective pullback.

29.10.2026 16:29, LLY

Farmaceutický gigant Eli Lilly zveřejnil výsledky za třetí kvartál roku 2026. Tržby díky lékům Mounjaro a Zepbound meziročně vzrostly o 39 % na 24,4 mld. USD, zatímco analytici očekávali 22,5 mld. USD. Společnost letos již potřetí zvýšila celoroční výhled tržeb, a to ve středu pásma o 5,5 mld. USD. Výhled zisku na akcii však snížily odpisy nakoupeného výzkumu a vývoje.

Výsledky společnosti Eli Lilly (LLY) za 3Q 2026   3Q 2026 Konsensus 3Q 2026 3Q 2025 Tržby (mld. USD) 24,40 22,52 17,60 Čistý zisk (mld. USD) 6,45 -- 5,58 Očištěný zisk na akcii (EPS, USD/akcie) 7,48 5,59 7,02 Výsledky Tržby společnosti ve 3Q meziročně vzrostly o 39 % na 24,40 mld. USD, a to díky 53% nárůstu objemu prodejů, což bylo částečně kompenzováno 15% poklesem realizovaných cen. Konsensus trhu počítal s 22,52 mld. USD. Tržby zahrnovaly jednorázové přínosy ve výši zhruba 900 mil. USD, a to především 410 mil. USD z milníkových plateb za lék Jardiance.

Tržby ve Spojených státech meziročně vzrostly o 34 % na 15,1 mld. USD při 41% nárůstu objemu a 7% poklesu realizovaných cen. Tržby mimo Spojené státy vzrostly o 47 % na 9,3 mld. USD, objem prodejů stoupl o 76 %, realizované ceny naopak klesly o 29 % především kvůli zařazení léku Mounjaro na čínský seznam hrazených léčiv (NRDL).

Největší podíl na tržbách zaujímá lék na cukrovku Mounjaro, kterému tržby meziročně vzrostly o 65 % na 10,72 mld. USD, což bylo nad očekáváním 9,95 mld. USD. V USA vzrostl o 41 % na 5,0 mld. USD, mimo USA se tržby zvýšily o 93 % na 5,7 mld. USD.

Vývoj tržeb léku na cukrovku Mounjaro, zdroj: Eli Lilly

Tržby z léku na hubnutí Zepbound meziročně vzrostly o 49 % na 5,35 mld. USD, také nad konsensem 5,01 mld. USD.

Vývoj tržeb léku na hubnutí Zepbound, zdroj: Eli Lilly

Pilulka na hubnutí Foundayo (orforglipron) má pomalejší start, než se očekávalo. Za kvartál vygenerovala tržby 184 mil. USD, zatímco konsensus počítal s 231,2 mil. USD. Podíl na nově zahájených léčbách v USA však na konci kvartálu dosáhl zhruba 40 % a lék byl uveden na trh ve Spojených arabských emirátech, Mexiku, Saúdské Arábii a Velké Británii.

Lék Verzenio určený pro léčbu rakoviny prsu se podílel na tržbách 1,51 mld. USD, meziročně o 2,8 % více a v souladu s konsensem. Lék Jardiance vykázal tržby 1,58 mld. USD oproti očekávaným 852,4 mil. USD, a to díky zmíněným milníkovým platbám. Trulicity přinesl 904 mil. USD (konsensus 851,5 mil. USD), Taltz 856 mil. USD (konsensus 891,9 mil. USD) a Humalog 593 mil. USD (konsensus 472,9 mil. USD).

Očištěná hrubá marže meziročně vzrostla o 0,8 p. b. na 84,4 %, a to díky příznivému mixu produktů a nižším výrobním nákladům, což částečně kompenzovaly nižší realizované ceny.

Výdaje na výzkum a vývoj se meziročně zvýšily o 23 % na 4,25 mld. USD, přičemž se očekávalo 4,19 mld. USD. Marketingové, prodejní a administrativní náklady vzrostly o 14 % na 3,13 mld. USD.

Společnost zaúčtovala odpisy nakoupeného výzkumu a vývoje (IPR&D) ve výši 4,18 mld. USD oproti 656 mil. USD před rokem, a to především v souvislosti s akvizicemi společností AtaiBeckley a Curevo. V přepočtu na akcii šlo o 4,57 USD, které jsou zahrnuty jak ve vykázaném, tak v očištěném zisku na akcii.

Vývoj tržního podílu léků na cukrovku a hubnutí v USA

Vývoj amerického trhu s inkretinovými analogy, zdroj: Eli Lilly

Výhled Eli Lilly v roce 2026 očekává:

Tržby v rozmezí 91 až 92 mld. USD, společnost dříve projektovala 85 až 87 mld. USD. Tržní konsensus činil 88,85 mld. USD. Očištěný zisk na akcii ve výši 35,00 až 36,00 USD, dříve společnost odhadovala 35,50 až 36,50 USD. Výhled zisku byl v polovině pásma zvýšen o 4,07 USD díky vyšším očekávaným tržbám, to však bylo více než vykompenzováno 4,57 USD z akvizičních odpisů nakoupeného výzkumu a vývoje ve 3Q. Tržní konsensus činil 32,66 USD. Návrat kapitálu akcionářům Společnost v průběhu prvních tří kvartálů roku navrátila svým akcionářům 4,6 mld. USD v dividendách a 4,3 mld. USD ve zpětných odkupech akcií.

Komentář CEO „Lilly má za sebou další silný kvartál, který překonal naše dřívější očekávání a umožnil nám zvýšit celoroční výhled,“ uvedl generální ředitel David A. Ricks. „Abychom zajistili trvalý dlouhodobý růst, nadále investujeme do svých výrobních a technologických kapacit, uzavřeli jsme řadu akvizic a partnerství a rozšiřujeme výrobu v Texasu a Virginii. Lilly si vede dobře v celém hodnotovém řetězci a náš potenciál ovlivnit lidské zdraví se dále rozšiřuje,“ dodal Ricks.

Pohled analytiků Analytik Trung Huynh z RBC Capital Markets hodnotí třetí kvartál jako velmi silné překonání odhadů na úrovni tržeb tažené robustní výkonností léků GLP-1. Zepbound a Mounjaro překonaly očekávání díky silným objemům, zejména Mounjaro mimo USA, které opět převážily cenové tlaky spojené s programem Medicare Bridge. Dodává, že zvýšení výhledu ukazuje důvěru ve stabilitu portfolia v oblasti obezity a diabetu a dobře pozicuje Eli Lilly do roku 2027.

Analytik Chris Schott z JPMorgan uvádí, že společnost vykázala významný kvartál, ve kterém překonala odhady a zvýšila výhled, přičemž překonání odhadů tržeb táhl Mounjaro. Upozorňuje, že odhady překonal i Zepbound, jelikož Medicare se nadále pěkně rozjíždí. Dnešní výsledky a výhled podle něj potvrzují silnou dynamiku v portfoliu Eli Lilly.

Podle analytika Davida Seigermana z BMO Capital Research překonání odhadů na úrovni tržeb i zisku podporuje již třetí překonání odhadů se zvýšením výhledu v roce 2026. Upozorňuje, že tržby z Foundaya nadále zaostávají, avšak síla širšího komerčního byznysu Eli Lilly z toho podle něj činí menší problém.

Akcie Eli Lilly Akcie Eli Lilly (LLY) posilují o 6,5 % na 1 372,05 USD

Eli Lilly & Co (LLY) +6,5 % na 1372,05 USD Ukazatel   Ukazatel   Kapitalizace (mld. USD) 1291,6 P/E 35,0 Vývoj za letošní rok (%) +27,7 Očekávané P/E 41,9 52týdenní minimum (USD) 809,6 Prům. cílová cena (USD) 1361 52týdenní maximum (USD) 1408,38 Dividendový výnos (%) 0,5 Zdroj: Eli Lilly, Bloomberg

Michal Bárta, Fio banka, a.s.

The new campus is the company's second Atlanta location and anticipated to open in Summer 2027.

, /PRNewswire/ -- Universal Technical Institute, Inc., a national leader in workforce solutions for transportation, skilled trades and healthcare/dental programs, today announced that Joseph Dalto has been named Campus President of the new Atlanta campus for its healthcare brand, Concorde Career Colleges.

Concorde Career Colleges "We're impressed by Joe's track record of strengthening organizational culture and designing programs that balance academic rigor with real-world clinical preparation. His leadership style focuses on empowering teams and creating clear, supportive pathways for students to reach their full potential, which makes him a great choice to lead our new Atlanta campus," said Kevin Prehn, SVP, Chief Operating Officer, Universal Technical Institute, Inc.

Dalto brings over 20 years of senior leadership experience in higher education, finance and operations with a proven history of building high-performing institutions. Before joining Concorde, he served as Vice President of Finance and Operations at OIC of South Florida. He holds a Master of Business Administration from Tulane University-Freeman School of Business and a Bachelor of Science in Psychology from The University of Southern Mississippi.

"I'm honored to lead Concorde's first campus in Georgia and help expand access to quality healthcare education in the Atlanta community. My goal is to create an environment where students are empowered to pursue rewarding healthcare careers, while building meaningful partnerships with local employers and healthcare organizations that strengthen the region's workforce," said Dalto.

Located at Lee + White's 929 Building on 1000 White Street, Concorde-Atlanta will occupy more than 47,000 square feet. The campus will serve up to 700 students at scale and offer a range of nursing, dental, diagnostic, patient care and allied health programs, subject to applicable regulatory and accreditor approvals. The facility is scheduled to open next summer.

Concorde-Atlanta is one of four Universal Technical Institute, Inc. campuses anticipated to open in 2027 and will mark the company's 39th training location nationwide. It is the company's first healthcare campus in Georgia and part of the company's multi-year North Star strategy to address America's shortage of skilled workers. Currently in Phase II, the North Star strategy's core tenets of growth, diversification and optimization include opening multiple campuses annually between 2026 and 2029; launching new programs at existing campus locations; and enhancing its operations to make the most efficient use of resources.

Recently, Universal Technical Institute celebrated the opening of UTI-Atlanta at an event with more than 100 local leaders and industry partners. The campus, dedicated to transportation and skilled trades, is located in Smyrna and will serve 1,500 students at scale in training in automotive, diesel, aviation, electrical, robotics and automation, HVACR and welding.

About Universal Technical Institute, Inc.
Founded in 1965, Universal Technical Institute, Inc. (NYSE: UTI) is a national leader in workforce solutions for transportation, skilled trades, healthcare and dental education programs. The company's industry-aligned programs are offered at 35 campuses nationwide and online under the brands Universal Technical Institute (UTI) and Concorde Career Colleges and include auto/diesel, aviation, welding, HVACR, electrical and energy, allied health, dental, nursing, patient care and diagnostic training. For more information, visit www.uti.edu or www.concorde.edu; LinkedIn at @UniversalTechnicalInstitute and @Concorde Career Colleges; or X at @news_UTI and @ConcordeCareer.

Media Contacts:
Susan Aspey, Universal Technical Institute, Inc.: [email protected]
Sharon Rolenc, Concorde Career Colleges: [email protected]

SOURCE Universal Technical Institute, Inc.

Hippo NYSE: HIPO reported third-quarter 2026 net income of $9 million and adjusted net income of $20 million, as the insurance company said premium growth, portfolio diversification and lower expenses supported a fifth consecutive quarter of underwriting profitability.

Chief Executive Officer Rick McCathron said the company generated nearly $500 million in gross written premium during the quarter, up 60% from a year earlier, while its combined ratio improved by 1 percentage point to 98.4%. A combined ratio below 100% generally indicates underwriting profitability.

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“This growth did not come at the expense of underwriting discipline,” McCathron said, adding that Hippo's year-to-date combined ratio improved 20 points to 97.9%.

Premium growth led by casualty and commercial lines Gross written premium rose to $498 million from $311 million in the prior-year quarter. Growth occurred across all major business lines, with casualty and commercial multi-peril, or CMP, delivering the largest increases.

Casualty gross written premium increased 146% to $188 million. Commercial multi-peril premium increased 63% to $108 million. Homeowners premium increased 11% to $112 million. Renters premium increased 25% to $74 million. Chief Financial Officer Guy Zeltser said more than two-thirds of the growth in casualty premium came from renewal business after Hippo added several large existing programs with in-force books. The company has been retaining less risk in its fastest-growing commercial lines, resulting in net written premium growth of 26% to $149 million and a blended retention rate of 30%, compared with 38% a year earlier.

Management expects the blended retention rate to decline further in 2027 to the low-30% range, from an estimated 33% to 34% for 2026. McCathron said Hippo is willing to retain less business during softer market conditions rather than compromise underwriting standards.

The company said the property insurance market remains soft, with ample reinsurance capacity contributing to lower rates and softer terms. In casualty, Hippo continues to see higher renewal pricing, though loss-cost trends vary by product line and attachment point.

Underwriting results and expenses Hippo's third-quarter net loss ratio increased 9 percentage points year over year to 66.7%. The accident-year loss ratio excluding catastrophe losses was 49.9%, compared with 48.4% a year earlier. Zeltser attributed the increase to more normalized loss experience in a business-owner property line and the company's growing mix of casualty and CMP exposure.

Catastrophe losses accounted for 6.5 percentage points of the loss ratio, compared with no catastrophe losses in the year-earlier quarter. Zeltser said the third quarter typically has Hippo's highest modeled catastrophe exposure, but the quarter's catastrophe results were below the company's expectations.

The net expense ratio declined by 10 percentage points from a year earlier to 41.7%. Management attributed the reduction to operating leverage from higher scale and to the business mix, as casualty and CMP generally carry lower expense ratios than property insurance.

Hippo said it expects its longer-term business mix to raise the underlying non-catastrophe loss ratio while lowering catastrophe and expense ratios. The company maintained its target of a normalized combined ratio in the mid-90s by 2028 and said it expects an expense ratio in the mid-30% range at that time.

Technology, partnerships and capital In its homeowners business, Hippo said its admitted-book growth more than offset headwinds in excess-and-surplus lines. The company reported a mid-single-digit renewal rate increase and nearly 10% higher exposure, producing nearly 14% growth in renewal premium.

McCathron said Hippo expanded quoting for existing homes into 14 additional states this year through national distribution partners. The company said its newer state launches required 70% less engineering effort per state than the initial eight-state rollout. It also cited claims technology called Clara, which it said has achieved a successful outcome in nine out of 10 first notices of loss.

Hippo also announced a partnership with Greenlight Re intended to position it as a preferred program carrier for emerging managing general agents, or MGAs. The company may invest alongside Greenlight Re in those businesses and plans to offer certain partners services including claims administration, customer support and technology. McCathron said those services are intended primarily to improve oversight and alignment with programs where Hippo retains risk, rather than serve as a standalone revenue center.

Addressing capital needs, Zeltser said the company has sufficient capital to support its organic growth plans through 2028. He cited more than $500 million of capital, including a surplus note, and said the company also has a whole-account quota share arrangement that could provide additional flexibility if growth opportunities exceed current plans.

Guidance raised Revenue increased 29% year over year to $156 million, including $19.7 million of commission, service and fee income, up 45%. Adjusted net income increased 9% to $20 million, or $0.74 per diluted share.

Net income of $9 million, or $0.33 per diluted share, was down from the prior-year period, which included a $91 million net gain from the sale of the homebuilder distribution network. Excluding that one-time gain, Zeltser said net income improved by roughly 28% year over year.

Hippo raised its full-year outlook, now expecting:

Gross written premium of $1.7 billion to $1.75 billion, up from prior guidance of $1.65 billion to $1.7 billion. Revenue of $585 million to $590 million, compared with prior guidance of $580 million to $585 million. A combined ratio of 97% to 98%, including an 8% catastrophe loss ratio, compared with prior guidance of 99% to 101% including a 10% catastrophe loss ratio. Adjusted net income of $77 million to $80 million, up from $62 million to $70 million previously. Total shareholders' equity was $469 million at quarter-end, up 8% from year-end 2025. Book value per share was $17.62, largely unchanged from $17.65 in the second quarter as unrealized investment losses offset quarterly net income.

About Hippo (NYSE:HIPO)Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo's offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Hippo Right Now?Before you consider Hippo, you'll want to hear this.

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The portfolio's outperformance was primarily driven by our holdings in the Health Care sector, which delivered strong returns for the quarter on company-specific catalysts. Information Technology holdings and underweight to the Energy sector detracted from returns. For the year-to-date period, the Fund returned 5.80% (net of fees), outperforming the Russell Midcap Growth Index's 1.01%.

SAN DIEGO, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating whether Cerebras Systems Inc. (NASDAQ: CBRS) or certain of its officers violated federal securities laws.

What if I purchased Cerebras securities?

If you purchased Cerebras securities and suffered losses on your investment, you are encouraged to join our investigation. Visit https://www.johnsonfistel.com/investigations/cerebras-systems-inc/ for more information.

Or contact Jim Baker at [email protected] or (619) 814-4471.

There is no cost or obligation to you.

Background of the Investigation

On October 28, 2026, Culper Research published a short-seller report alleging that Cerebras's wafer-scale AI processors suffer from significant reliability issues and may last only 1.5 to 2.5 years. The report questioned the Company's depreciation assumptions, noting that Cerebras estimates useful lives of 3 to 5 years for its data-center and computer equipment. Culper also raised concerns regarding the profitability of Cerebras's AI infrastructure business. Following publication of the report, Cerebras shares declined more than 8% during intraday trading on October 28, 2026.

In light of these allegations, Johnson Fistel is investigating whether Cerebras complied with federal securities laws. If you suffered losses, contact Johnson Fistel.

Johnson Fistel PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contacts

Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker | (619) 814-4471
[email protected]
https://www.johnsonfistel.com/

BOSTON, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Cerebras Systems Inc. (Nasdaq: CBRS) for potential securities law violations. Investors who have lost money in their Cerebras Systems investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/cbrs.

What is this all about?

Block & Leviton is investigating whether Cerebras Systems and certain of its officers and directors violated federal securities laws. Cerebras completed its initial public offering on May 14, selling 30 million shares of Class A common stock at $185.00 per share. On June 23, 2026, the company reported its first-quarter 2026 financial results, posting a loss of $0.22 per share, causing the company's stock price to fall over $40 per share. Investors who purchased Cerebras shares and have lost money are encouraged to contact the firm to learn more about their rights.

Who is eligible?

Anyone who purchased Cerebras Systems common stock and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (888) 256-2510.

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If you have non-public information about Cerebras Systems, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at [email protected] or by phone at (888) 256-2510.

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Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website www.blockleviton.com, call (888) 256-2510 or email [email protected] with any questions.

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CNX Resources Corporation. (CNX) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.65 per share.

SummaryApple Inc. is expected to report strong Q4 earnings and revenue growth, with iPhone sales up 15.3% to $56.5 billion.Despite bullish options positioning, AAPL faces strong resistance at $355–$360, with limited support until $330, increasing downside risk post-earnings.Technical signals, including bearish RSI divergence and consolidation, suggest vulnerability; a break below the uptrend could target $328 or even $315.To sustain its rally, AAPL must deliver a beat-and-raise quarter; anything less likely triggers short-term selling pressure.Looking for more investing ideas like this one? Get them exclusively at Reading The Markets. Learn More » ozgurdonmaz/iStock Unreleased via Getty Images

Apple Inc. (AAPL) is forecast to report fiscal fourth-quarter earnings up 7.4% to $1.99 per share, with revenue up 10.7% to $113.4 billion and iPhone growth expected at 15.3% to $56.5 billion,

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MSFT, GOOGL, AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Meta's ad pricing power keeps climbing even as a massive legal charge, ballooning capex, and a surprise stock offering sent shares tumbling. Whether those headwinds mask a rare buying window or signal deeper trouble depends on one force quietly reshaping…

Meta Platforms (NASDAQ:META | META Price Prediction) trades at $642.49. Our 24/7 Wall St. price target is $804.16 over the next 12 months, which means 25.14% upside. Our model rates the stock a buy with high confidence.

Metric
Value

Current Price
$642.49

Price Target from 24/7 Wall St.
$804.16

Upside/Downside
25.14%

Recommendation
BUY

Confidence Level
90%

The one big reason I like Meta through 2030 is simple: AI is already making its ad business more valuable.

In Q3, average price per ad rose 14% and ad impressions grew 10%. That pricing power funds everything else Meta is building. Right now, attention on spending, legal costs, and dilution has opened up a gap between price and value.

A Legal Charge and a Stock Offering Hide a Clean Revenue Beat
Shares fell 9.42% over the past week and 13.66% over the past month, leaving them down 2.43% year to date. The stock sits 17.6% below its 52-week high of $779.82.

Q3 revenue came in at $64.601 billion, up 26.07% and ahead of the $63.389 billion consensus. GAAP EPS of $3.83 missed expectations because of a $9.89 billion charge from the settlement with state attorneys general.

EPS would have been $7.40 without that charge. Free cash flow turned negative, which sent shares lower the next day as AI spending weighed on the stock. On Monday, Meta announced a large stock offering to fund its AI expansion.

Why Bulls See $850 and Beyond
The upside goes beyond ads. More than 10 million people in the U.S. and Canada set up the Muse personal agent within six weeks, and about 25% of them use it on any given day. Management plans to earn commerce fees, subscriptions, and enterprise revenue from Muse. It can also sell to the 500 million businesses that already use Meta’s products.

Reality Labs losses are expected to narrow to about $15 billion in 2027, and Q4 revenue guidance is $73 billion to $76 billion. Wall Street largely agrees: 8 analysts rate the stock a Strong Buy and 47 rate it a Buy. Our bull case hits $850.99.

What Could Derail the AI Payoff
Capex guidance for 2026 is $135 billion to $145 billion, and debt stands at $83.7 billion. Somebody has to power and cool that expansion, and we rounded up seven suppliers quietly benefiting from it in a free AI infrastructure report.

The new offering and the planned non-voting share class both raise the risk of dilution. More youth-related trials are also coming. Q3 operating margin fell to 20% from 40%, although operating income would have grown 11% without the legal charge. Our bear case is $703.14.

How Meta Compares to Alphabet and Pinterest
Alphabet (NASDAQ:GOOGL) is Meta’s main rival in digital advertising and is spending heavily on AI too. Its Q2 free cash flow was -$5.855 billion. Alphabet trades near 14x earnings, but its 32% operating margin trails Meta’s 41.44%, which helps justify Meta’s higher multiple.

Pinterest (NYSE:PINS) is a pure social-ad comparison. It posted a GAAP operating loss of $55.2 million in Q2 and grew more slowly than Meta, even though Meta is far larger.

Company
Trailing P/E
Latest Quarterly Revenue Growth

Meta
23
26.07%

Alphabet
14
24.23%

Pinterest
N/M (GAAP loss)
18.17%

Against these peers, our target looks reasonable and grounded in comparable valuations.

Meta’s AI Ad Engine Tips the Scale
The 24/7 Wall St. price target of $804.16 carries a buy rating and 90% confidence.

The bull case improves if ad pricing holds up and Muse cuts its computing costs on schedule. The bear case gains weight if dilution speeds up and free cash flow stays negative into 2027. At about 19x forward earnings, the valuation leaves room for upside if execution holds.

Year
Price Target from 24/7 Wall St.

2026
$682.52

2027
$816.32

2028
$934.53

2029
$1,073.74

2030
$1,144.99

Meta’s continued execution on its AI strategy supports these projections. Results could rise with Muse monetization, while litigation or capex overruns could drag them lower.

Contact [email protected] for any questions or corrections.

SummaryUS government debt-to-GDP exceeds 120%, while annual interest payments now surpass the budget for national defense.Our three best-performing stocks this quarter were Meta, IQVIA and Shell.Our three largest detractors this quarter were Danone, Heidelberg and Samsung Electronics.117 Followers

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The CryptoBilis Ledger drainer has continued moving stolen cryptocurrency, transferring USD 13.84 million over the past 48 hours after Arkham Intelligence traced USD 95.35 million in thefts involving 1,486 addresses.

Summary

Arkham traced USD 95.35 million stolen from 1,486 addresses between October 7 and 9. The attacker reportedly stole USD 80.60 million within just 51 minutes on October 9. At least USD 69.19 million passed through swaps and bridges across multiple blockchain networks. The attacker deposited 9,529 ETH, worth USD 23.27 million, into Tornado Cash through 559 transactions. Arkham identified USD 30.44 million in remaining holdings, including USD 10 million in frozen USDT. According to Arkham Intelligence, the thefts occurred between October 7 and 9, with most of the cryptocurrency taken during a 51-minute period on October 9. The blockchain analytics firm reported that USD 30.44 million remains in addresses linked to the attacker, including USD 10 million in USDT frozen by Tether.

Its latest investigation traced the stolen cryptocurrency through several blockchain networks, identifying transfers involving USDT, Bitcoin, Ethereum and USDD. The findings come nearly three weeks after Ledger began investigating reports of missing funds from customers who purchased hardware wallets through Southeast Asian reseller CryptoBilis.

The CryptoBilis Ledger Drainer stole $95M, and is still moving funds.

The drainer stole $95.35M from 1,486 addresses on 7-9 October: it holds $30.44M in tagged addresses with $10M frozen.

The drainer is still moving funds, with $13.84M moved in the past 48 hours. pic.twitter.com/DLZRBAWGvU

— Arkham (@arkham) October 29, 2026 CryptoBilis Ledger Drainer Stole USD 80.6 Million in 51 Minutes Arkham’s analysis found that most of the theft occurred on October 9, beginning at 05:07:48 UTC. Within 51 minutes, the attacker collected USD 80.60 million, including USD 58.19 million in USDT through 335 transfers on the Tron blockchain.

During the same period, 112 Bitcoin addresses transferred 203.26 BTC, valued at USD 16.73 million, in a single block at 05:54 UTC. Another USD 14.14 million in USDT reached the attacker’s Tron wallets by 15:00 UTC.

Source: Arkham The investigation identified smaller transfers before the main theft. Between October 7 and 8, the attacker received 7.41 BTC, worth approximately USD 610,000, from 137 addresses.

Previous estimates of the losses have varied. Blockchain analytics firm Bitquery estimated USD 102 million stolen from 335 wallets across six networks in its October 16 investigation. Ledger has not independently confirmed the total amount stolen or the number of affected customers.

Stolen Funds Moved Through Ethereum Bridges and Exchanges After the theft, the attacker began converting the stolen assets and moving them between blockchain networks. Arkham traced at least USD 69.19 million through swaps and bridging transactions, including USD 20.37 million in USDT converted into USDD on Tron.

Another USD 20 million in USDT moved from Tron to Ethereum through USDT0. Other transfers converted USDT and USDC from Tron, BNB Chain and Polygon into ETH, including USD 8.95 million through Relay, USD 5.91 million through Chainflip and USD 13.96 million through smaller routes.

On October 9, Ethereum wallets associated with the attacker received 5,895 ETH, worth USD 14.72 million, from bridges including Relay, THORChain, NEAR Intents, Bridgers and Mayan. The attacker then converted USD 11.30 million in bridged USDT into approximately 4,530 ETH through Rizzolver.

Separate transfers sent 5,185 ETH, valued at USD 12.97 million, directly to newly created addresses. Of that amount, 3,600 ETH came from USD 9 million transferred through USDT0, while another 1,585 ETH moved through Chainflip to three new addresses.

Between October 9 and 11, the attacker sent USD 14.65 million in USDD to 20 Tron addresses. Nineteen subsequently converted the tokens into USDT through SUN.io and deposited USD 14.13 million into THORChain.

Tornado Cash Received USD 23.27 Million in Stolen ETH Arkham identified 9,529 ETH, valued at USD 23.27 million, deposited into Tornado Cash through 559 transactions.

The deposits included 63 transfers of 100 ETH, 307 transfers of 10 ETH, 156 transfers of 1 ETH and 33 transactions of 0.1 ETH. Before the deposits, 8,102.6 ETH had moved from wallets linked to the attacker into 26 new Ethereum addresses.

Bitcoin transfers continued separately. Arkham traced 102.15 BTC, worth USD 8.33 million, leaving the attacker’s wallets through four transactions. On October 27, a 17.97 BTC portion joined 52.51 BTC in an unspent output containing 70.47 BTC, worth USD 5.67 million.

The firm’s latest figures show 4,932 ETH worth USD 11.49 million and 111.28 BTC worth USD 8.96 million in tagged addresses. Another 10,000,010 USDT remains frozen on Tron following Tether’s October 9 intervention.

Ledger Confirmed Hardware Implant in CryptoBilis Wallet Investigation The findings follow Ledger’s investigation into compromised hardware wallets sold through CryptoBilis. As crypto.news previously reported, Ledger confirmed on October 13 that its security team had discovered an unauthorized hardware implant capable of capturing recovery phrases displayed during device setup.

Ledger said every confirmed theft it had investigated involved a device purchased through CryptoBilis, although it had not established how the components entered the affected hardware. The manufacturer subsequently tightened reseller security requirements and suspended authorized hardware wallet sales across several Southeast Asian markets.

In a related development, Singapore police reported two compromised wallet cases on October 28, involving approximately SGD 3.5 million in cryptocurrency losses. Preliminary investigations found that malicious components inside the affected devices could capture users’ recovery phrases or private keys.

Ledger said its investigation had not identified evidence that its internal systems or direct sales channels were compromised.

Experienced Tesla (TSLA) investors know Elon Musk's company is much more than an electric vehicle (EV) manufacturer. It's got many nonautomotive irons in its fire that are expected to be legitimate catalysts for the stock.

PANews, October 29 — Gate US now supports USD balance trading and has officially launched USD Wire deposit and withdrawal services, according to official sources. Users no longer need to convert funds into stablecoins and can hold USD balances directly in their platform accounts, using them when they need to trade.

Through upgraded banking and payment infrastructure, Gate US users in eligible regions who have completed verification can use their own US bank accounts to make large USD transfers via USD Wire. The service supports higher transfer limits than regular bank cards or in-app transfers, and users can also withdraw USD balances to the same verified bank account, subject to applicable limits and processing requirements. Users can open the Gate US App, go to the Wallet page, select the USD option, and follow the on-page instructions to complete the process. When transferring, users must enter the dedicated reference code provided on the page so the system can identify and match the corresponding account.

Gate US continues to advance compliance efforts in the US market and currently holds 37 state-level Money Transmitter Licenses (MTLs), serving 47 US states and territories. By continuously upgrading banking and payment infrastructure and expanding its network of financial and technology partners, Gate US will continue to enrich its fiat currency services and fund transfer options, further connecting digital asset trading with traditional financial services. USD deposit and withdrawal services are available only in certain US jurisdictions; residents of Colorado, Hawaii, Missouri, New Jersey, Utah, or Wyoming cannot use the service.

Elon Musk called a Tesla and SpaceX merger a good idea, then immediately explained why pulling it off could be nearly impossible. The math behind the shareholder vote reveals just how steep the climb really is.

Elon Musk says combining SpaceX (NASDAQ:SPCX | SPCX Price Prediction) and Tesla (NASDAQ:TSLA) would be a good idea. He also says Tesla’s side of the shareholder vote would be hard to win.

On SpaceX’s third-quarter earnings call on October 20, 2026, Deutsche Bank’s Edison Yu asked about a combination. Musk replied: “This is definitely the kind of question where I feel like I’m tap dancing through a minefield.” Then: “Do I think it would be a good idea? Yes.”

However, he said said that merger would face a  “high threshold” due to the vote requirement.  Elon Musk said Tesla would need a 50% vote: “Particularly on the Tesla side, we will need a 50% vote of all shares, not just those who vote, but of all shareholders. And that’s quite a high hurdle to try to achieve.”

How the 1.98 Billion Yes-Vote Figure Is Calculated Tesla’s 10-Q cover page lists 3,952,757,946 shares outstanding as of Oct. 15, 2026. Based on that 10-Q count, a majority of all shares is at least 1,976,378,974, or about 1.98 billion. That figure is our own calculation. Musk did not cite it. Because the threshold is measured against all shares, any share that goes unvoted works against a deal.

According to TIKR, turnout at Tesla’s 2025 annual meeting was about 74%. If a merger vote saw the same turnout, a deal would need 67.6% of the votes cast. Treat that as an illustration of the math, since turnout for a merger vote could be different. Tesla is a Texas corporation, according to its SEC filing. Musk’s description is the only public account of the threshold.

Why Low Retail Turnout Makes the Vote Harder Tesla’s Sept. 29, 2026 letter to the SEC cited Broadridge Financial Solutions data showing that retail investors voted only 28% of their shares in the 2025 proxy season, while institutions voted 76.6% of theirs. In the same letter, Tesla said it spent over $2 million on proxy solicitors alone to get retail holders to vote at its two most recent annual meetings. According to TIKR, a 2025 Tesla supermajority proposal drew about 54% of votes cast but only about 39.4% of all shares. Barclays puts broker non-votes at about 11% of outstanding votes, per TIKR.

The letter also describes a retail auto-vote program. Enrolled holders’ votes automatically follow the board’s recommendation. Each holder picks one of two options: all matters, or all matters except contested director elections and any acquisition, merger or sale that needs shareholder approval. Holders who choose the second option would get a reminder before a merger meeting. According to Tesla North, the SEC cleared the program on Sept. 29. No enrollment figures are public.

Where Merger Talks Stand Now Both companies have formed special committees of independent directors. Musk said “because I’m a conflicted party, I can’t actually be in the discussions of the special committees.” He added that “the special committees have not reached agreement on the terms of any transaction. And obviously there’s no guarantee that they will.” No terms or premium have been offered. According to the Khaleej Times, Musk holds about 20% of Tesla and more than 80% of SpaceX’s voting power.

The two companies’ latest results differ sharply. In Tesla’s third-quarter filing, operating income fell to $718M from $1.62B, while R&D spending rose to $2.76B. SpaceX reported revenue of $14.60B and net income of $4.40B.

What Tesla Shareholders Are Watching Before Any Vote According to investingLive, J.P. Morgan expects any deal to be SpaceX-led and all-stock, at a 30% to 35% premium. Using that range to a $373.71 close, TIKR calculated about $486 to $505 a share. Those numbers are TIKR’s own arithmetic.

J.P. Morgan has not set that as a target, and no offer exists. Barclays upgraded Tesla to Overweight and raised its price target to $450 from $370, per TIKR.

Tesla closed at $391.62 on Oct. 26, a gain of 5.21% per HeyGoTrade. It then closed at $407.46, up 4.04%. At 9:49 AM ET today, shares traded at $402.60, down 10.48% for the year. On Polymarket, traders price separate contracts for an official merger announcement at 19% by Dec. 31, 2026, 59% by June 30, 2027 and 70% by Dec. 31, 2027. Those are prediction-market prices and should not be read as a forecast.

The biggest open question is what the special committees decide. If they agree on terms, every Tesla share will count. Shares that are never voted will count the same as a no.

Contact [email protected] for any questions or corrections.

Wall Street analysts have cut their price targets for Alphabet (NASDAQ: GOOGL) following disappointing third-quarter earnings that sent Google stock tumbling approximately 10% in extended trading.

Alphabet reported earnings per share of $2.12, below the roughly $3.02 analysts expected, while slowing Search advertising growth and a $9.1 billion quarterly free cash flow deficit raised concerns about its aggressive artificial intelligence (AI) spending. 

However, the earnings shortfall was partly driven by an $8.7 billion loss on equity investments, which reduced earnings by approximately $0.55 per share. Meanwhile, Alphabet’s quarterly capital expenditure reached $51.4 billion as the company continued expanding its AI infrastructure.

Of the 21 analyst updates issued on October 29, 18 involved price target cuts. Scotiabank delivered the steepest reduction, lowering its target by 16.67%, from $450 to $375.

GOOGL stock ratings on Thursday. Source: AIStockSavvy Despite the widespread cuts, major Wall Street firms retained bullish ratings on Google stock. Bank of America lowered its price target from $430 to $380 while maintaining its Buy rating, and Morgan Stanley reduced its target from $400 to $375 while retaining an Overweight rating.

Barclays also cut its GOOGL price target from $425 to $405, maintaining its Overweight rating. Meanwhile, DA Davidson lowered its target from $350 to $300 while keeping its Neutral rating.

The institutions issued revised price targets for Google shares, driven mainly by mixed quarterly execution across its core operating segments. The main catalyst for the target cuts was a notable slowdown in Search advertising revenue growth, which expanded 12% year-over-year (YoY) versus the 15% consensus estimate.

Nonetheless, Wall Street analysts remain optimistic of a potential upside backed by strong momentum in Google Cloud, where revenue surged by 103% YoY to $30.7 billion, amid surging enterprise AI demand.

Is Google stock a buy after the Q3 earnings selloff? The latest round of Wall Street price target cuts suggests analysts are becoming more cautious about Alphabet’s near-term outlook, particularly as slowing Search advertising growth and rising AI infrastructure spending put pressure on the company’s financial performance.

However, several major firms, including Bank of America, Morgan Stanley, and Barclays, maintained bullish ratings despite lowering their targets. This suggests the selloff has not fundamentally changed their longer-term investment outlook.

Whether GOOGL stock can recover will largely depend on Alphabet’s ability to translate accelerating Google Cloud growth and AI investments into stronger earnings and cash flow. 

Featured image via Shutterstock

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Alphabet is executing a massive AI-driven capex cycle, with current earnings temporarily understating long-term profitability. GOOG's Q3 revenue grew 25% YoY to $127.6B, while Cloud revenue surged 103% and operating income tripled, signaling robust underlying business momentum. Negative free cash flow and EPS misses are artifacts of front-loaded depreciation and investment; returns on new capital are estimated at 20%, well above the cost of capital.

Kate Moore, Citi Wealth chief investment officer, says she's still bullish on tech and the US economy despite Alphabet reporting disappointing results for search and advertising sales. Moore also reacts to the Fed leaving rates unchanged and the importance of spending on cyber security.

Alphabet shares GOOGL plunged 13% on Thursday's open after the Google parent reported weaker-than-expected third-quarter revenue and earnings, intensifying investor concerns that artificial intelligence could undermine its core search advertising business.

If the losses hold through the regular session, the decline would mark Alphabet’s steepest one-day drop since March 2020, when the stock fell 11.6%.

It would also represent the company’s worst post-earnings reaction since going public in 2004.

Alphabet reported total third-quarter revenue of $127.6 billion, below analysts’ estimates of $128.2 billion, according to LSEG data.

Earnings per share came in at $2.12, compared with analysts' forecast of $3.02.

Search advertising, Alphabet’s largest revenue source, grew 12% to $63.35 billion in the September quarter, but fell short of analyst expectations.

The company also reported negative free cash flow of $9.07 billion, substantially worse than the $2.70 billion analysts had expected.

Although Google Cloud revenue more than doubled at $30.71 billion, the strong performance failed to reassure investors amid concerns over the cost of Alphabet’s artificial intelligence infrastructure expansion and slowing growth in its dominant search business.

The results have renewed questions about whether AI-powered services from competitors such as OpenAI’s ChatGPT and Meta’s Muse agent could disrupt the traditional search model.

BNP Paribas analyst Nick Jones wrote in a Wednesday note that the results likely revived fears that AI competitors were chipping away at Google’s search business.

Investors are also concerned that agentic shopping experiences could threaten advertising revenue if AI agents increasingly handle web browsing and purchasing decisions.

Alphabet’s search business remains central to investor concerns.

Search growth slowed to 12% year-on-year in the third quarter, down from 17% in the second quarter.

Bernstein analyst Mark Shmulik described the initial read on Alphabet’s results as offering far more negatives than positives.

He called the deceleration in search growth “material” and questioned why an increase in search queries was not translating into revenue growth to the same extent as in previous quarters.

Alphabet said currency fluctuations affected search revenue during the quarter.

The company also acknowledged that queries conducted through AI Mode were, on average, three times longer than traditional searches, but generated lower monetisation for the time being.

The challenge for Alphabet is to demonstrate that AI-powered search can generate sufficient advertising revenue to offset potential changes in how users discover information and shop online.

Raymond James lowered its price target on Alphabet to $350 from $400 while maintaining a Strong Buy rating.

The firm said the company delivered mixed results and failed to address concerns surrounding search.

It noted that AI Mode’s lower monetisation rate puts pressure on Alphabet to show that potential structural gaps in advertising load compared with traditional “10 blue links” can be offset by improved conversion rates resulting from richer context and a broader query universe.

Raymond James also highlighted the company’s spending plans, maintaining its capital expenditure outlook, including significant growth in 2027.

The firm estimates capital expenditure of $350 billion, compared with the broader market’s estimate of $320 billion.

It lowered its price target while seeking greater visibility into whether AI Mode and Gemini can become incremental growth drivers.

The firm also flagged risks from agentic workflows that could significantly change shopping and browsing behaviour.

Several other analysts lowered their price targets following the results, although they maintained positive views on Alphabet’s longer-term prospects.

Susquehanna cut its price target on Alphabet to $400 from $460 while maintaining a Positive rating.

The firm raised its 2026 net revenue estimate by 2%, left GAAP operating income broadly unchanged and reduced its GAAP earnings-per-share estimate by 4%.

For 2027, Susquehanna increased its revenue estimate by 7%, its GAAP operating income estimate by 3% and its GAAP earnings-per-share forecast by 2%.

Cantor Fitzgerald analyst Deepak Mathivanan lowered his price target to $350 from $420 while retaining an Overweight rating.

He pointed to the earnings miss, operating income that came in 7% below estimates, and slowing search growth, which had driven a 10% decline in after-hours trading.

However, the analyst cited cloud growth above 100%, record search queries, strong demand for tensor processing units and continued Gemini innovation as supporting Alphabet’s AI positioning and long-term upside.

The firm recommended buying shares on weakness.

Rosenblatt analyst Barton Crockett reduced his price target to $380 from $410 but maintained a Buy rating.

The firm said strong cloud performance was overshadowed by disappointing search results.

Rosenblatt expects Google Cloud revenue to surpass the combined revenue of Search and YouTube by 2028.

It believes Alphabet’s value is gradually shifting from advertising towards cloud computing, although investors will need time to assess near-term trends and the durability of its search business.

Cloud growth remains a long-term opportunityJPMorgan analyst Doug Anmuth retained an Overweight rating and a $375 price target, arguing that the sharp share-price reaction highlighted the limited tolerance investors have for disappointing results from companies spending heavily on AI infrastructure.

"Alphabet’s 3Q results & the stock’s sharp move lower show us the margin for error when a hyperscaler spending hundreds of billions on the AI infrastructure buildout and flipping to negative FCF posts disappointing results in the core… We’re sticking with Overweight, as we believe Google’s Search headwinds are more navigable than permanently structural, and Google Cloud becomes an even more critical part of the business, driving overall Alphabet revenue growth of ~30% in both 2027 & 2028."

The outlook highlights the central tension facing Alphabet.

Its AI investments and rapidly expanding cloud business could support substantial future growth, but investors want evidence that these investments will generate adequate returns without undermining the advertising business that has historically financed the company’s expansion.

Alphabet NASDAQ: GOOGL reported third-quarter results after the close on Wednesday, Oct. 28, just a couple of hours after the Federal Reserve’s latest rate decision. The Fed raised rates in September to 3.75% to 4%, its first hike since 2023, and most policymakers have signaled another increase is likely before year-end. So the Fed holding steady on Wednesday, as markets widely expected, wasn’t the real news.

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What stood out was the 10–2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack both pushing for another hike, along with a statement noting that inflation “remains elevated.” That keeps a December hike very much in play.

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That backdrop arguably matters more for Alphabet than it might seem. The company has increasingly turned to debt to fund its AI buildout, issuing about $52 billion in senior notes in the first half of 2026 and returning to the bond market in August. Its long-term debt stood at roughly $98 billion as of June 30. Higher rates make borrowing more expensive and raise the return Alphabet’s AI spending ultimately needs to deliver.

Cloud Delivered, Earnings Didn’tRevenue climbed 25% to $127.6 billion, just shy of the roughly $128 billion analysts expected. Earnings of $2.12 per share fell well short of the $3.01 consensus. An $8.7 billion loss on equity investments cut earnings per share (EPS) by about 55 cents, though results would still have missed expectations without it.

Google Cloud told a very different story. Cloud revenue surged 103% to $30.7 billion, ahead of the $28.7 billion analysts expected, while Cloud operating income more than tripled to $11.1 billion. Backlog rose to $561 billion from $514 billion last quarter, and management now expects to recognize just over 55% of it as revenue over the next 24 months, up from just over 50%.

The spending side was just as striking. Capital expenditure (CapEx) reached $51.4 billion, more than double the year-ago level, while free cash flow was negative $9.1 billion. Beyond CapEx, TPU inventory builds, and a $5.2 billion European Commission fine payment also weighed on that figure.

In Wednesday’s regular session, which also absorbed the Fed decision, GOOGL shares closed up 1.3% at $324.89. Following the report, though, the stock was down about 10% in premarket trading.

Alphabet Sits on Both Sides of the AI TradeWhat sets Alphabet apart from most AI spenders is that it both buys and sells AI capacity. On the buying side, the company held its 2026 CapEx guidance at $195 billion to $205 billion. With roughly $132 billion already spent through the third quarter, that implies fourth-quarter CapEx of about $63 billion to $73 billion. Management also said spending will “increase significantly” in 2027, with more details coming on its fourth-quarter call.

On the selling side, TPU system sales contributed meaningfully to Cloud growth. Management said it now has more than 100 significant TPU customers and recently announced a partnership with Oracle NYSE: ORCL to deliver TPU systems. It expects TPU system sales to scale further in the fourth quarter, followed by a meaningful revenue ramp in 2027. For more on the chip suppliers behind those systems, see MarketBeat’s recent coverage of Broadcom NASDAQ: AVGO.

What Supports the Spending, and What Challenges ItThe supportive case is that returns are clearly starting to show. Cloud revenue more than doubled, its profit more than tripled, and backlog is not only growing but converting faster. Analysts have been bullish too, with a Buy consensus across 56 analysts and an average price target of $425.04, though that price target has dropped since the earnings report.

That said, costs are climbing fast. CapEx grew even more quickly than Cloud revenue, depreciation is rising as new infrastructure comes online, and management warned that third-party computing capacity coming online in the fourth quarter will pressure Cloud margins in the near term. With free cash flow negative for a second straight quarter and the Fed still leaning toward higher rates, each borrowed dollar arguably has a higher bar to clear.

The Return Is There, But So Is the CostAlphabet’s third quarter showed its AI investment is translating into real revenue and profit. The market’s reaction, though, suggests investors are now as focused on what that growth costs to achieve as on how much higher spending could climb in 2027.

Alphabet Inc. (GOOGL) Price Chart for Thursday, October, 29, 2026

Several upcoming markers should help answer that question. The Fed’s Dec. 8–9 meeting will show whether borrowing costs are heading higher still. Alphabet’s fourth-quarter call should bring the first real detail on 2027 spending plans. And the TPU ramp management expects next year will test whether selling AI capacity can help offset the cost of building it. Until then, the debate will likely center less on whether the AI investment is working and more on whether returns can keep pace with the bill.

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