WASHINGTON, D.C. & OVERLAND PARK, KS, June 04, 2026 (GLOBE NEWSWIRE) -- The National Content & Technology Cooperative (NCTC) and America’s Communications Association (ACA Connects) will host their 21st annual Independent Show themed “Imagination Meets Innovation” from July 26-29, 2026, at Disney’s Yacht & Beach Club Resorts in Lake Buena Vista, FL.
Reflecting NCTC’s commitment to delivering practical value and resources for its members, the event will focus on turning industry innovation into immediate operational results.
"This year’s TIS is designed to make scaling networks, launching advanced services and supporting customers easier than ever for independent ISPs," said Lou Borrelli, CEO of NCTC. "Every session, workshop and keynote will equip members with the strategies and turnkey solutions needed to expand and compete at enterprise scale as more broadband choices and smarter connectivity reshape the market. Attendees will leave Florida with a practical framework for enhancing the subscriber experience, whether through profitable mobile bundles, smart AI tools or seamless network convergence."
Building on NCTC's growing portfolio of MVNO, programming, and network infrastructure solutions, TIS will introduce expanded tactical workshops focused on mobile device strategies, bundling frameworks, and network optimization equipping members with the tools to converge services and deepen long-term subscriber retention. These sessions will directly address the industry's evolving regulatory landscape while guiding members toward seamless customer experiences through the convergence of fiber, Wi-Fi, mobile, and video.
Attendees will also learn about NCTC’s latest advancements in AI, broadband, streaming and other initiatives shaping the future of connectivity.
“On every front, we’re empowering independent operators to innovate, prepare for the future, and invest in their networks,” said Grant Spellmeyer, President and CEO of America’s Communications Association. “ACA Connects looks forward to leading conversations at The Independent Show with the most influential leaders driving broadband, video, and mobile policy, including FCC Commissioner Olivia Trusty. Attendees will not just leave with a more strategic playbook to navigate the regulatory world; they will gain the confidence they need to run their businesses and win.”
ACA Connects will deliver insider analysis for TIS attendees, breaking down key policy debates and helping the industry navigate upcoming regulatory and deregulatory changes in Washington, D.C.
Attendees can expect insights from expert-led panels and interactive breakout sessions on topics such as:
Mobile bundling strategies to strengthen broadband value and customer retentionAI deployment, data readiness and governance for B2B applicationsThe evolving video ecosystem and driving customer stickiness with NCTC Broadband TVNetwork infrastructure optimization and convergence across fiber, Wi-Fi and mobileRegulatory shifts, including permitting reform, AI oversight, universal service reform and changes to the video marketplace. Keynotes and general sessions on the show’s agenda include:
Noelle Russell, Founder & Chief AI Officer of the AI Leadership Institute – In the show’s opening keynote, Russell will share practical, real-world insights on how independents can use AI to strengthen operations, serve customers better and stay competitive without losing what makes them unique.Olivia Trusty, FCC Commissioner – Shortly after the keynote on Monday, Trusty will join ACA Connects President and CEO Grant Spellmeyer for a fireside chat on empowering independent providers to expand broadband access, drive investment and strengthen rural communities.David and Jonah Stillman, Generational Experts – In Tuesday’s keynote, a father-and-son duo representing Gen X and Gen Z will share research on how different age groups influence technology adoption, culture and team dynamics.Jimmy Zasowski, President, Platform Distribution, Disney Entertainment and ESPN – Directly following Tuesday’s keynotes, Zasowski will share new insights in an exclusive fireside chat with NCTC's CEO. Pre-Show Event (July 26):
The Marketing Innovators Group (NCTC members only) offers a hands-on AI workshop for marketers to sharpen competitive strategies, user groups to learn from peers and a welcome party at EPCOT Pavilion, where guests can experience all four Disney parks in one night.
Mark Your Calendars for Next Year:
TIS 2027 is scheduled for August 1–4, 2027, in Nashville, Tennessee. About National Content & Technology Cooperative
The National Content & Technology Cooperative (NCTC) is a Kansas-based, not-for-profit corporation comprised of more than 650 independent broadband and cable operators serving one-third of the connected households in all 50 United States and territories. The NCTC negotiates content, connectivity, and technology solutions for its member companies that create operational efficiencies, new products, and revenue streams for sustainable growth. For more information, visit: https://www.nctconline.org/
About America’s Communications Association
America’s Communications Association (ACA Connects) is a trade organization representing about 500 small and medium-sized, independent companies that provide high-speed internet, video, phone, and mobile services covering 29.5 million households. ACA Connects members operate in every state, providing advanced communications to connect homes, companies, main street, schools, hospitals and more. America’s economic prosperity in smaller communities and rural areas depends on the growth and success of independent operators, who believe a connected nation is a prosperous nation. For more information, visit www.acaconnects.org.
For more information, contact:
For NCTC:
Robert Brownlie
Bob Gold & Associates
310-320-2010 [email protected]
For ACA Connects:
Olivia Shields
ACA Connects
571-329-1259 [email protected]
Photos accompanying this announcement are available at:
For a retirement-focused investor choosing between Netflix (NASDAQ:NFLX | NFLX Price Prediction) and The Walt Disney Company (NYSE:DIS), which streaming giant deserves a slot in the portfolio right now? Both have transformed since the streaming wars began, but they offer fundamentally different risk and reward profiles. Netflix is the lean, scaled growth machine. Disney is the diversified cash-return story with a parks backstop. Three dimensions decide it.
Dimension 1: On Income and Capital Return, Disney Wins This one isn’t close for retirees. Disney pays a $1.50 annual dividend in fiscal 2026, structured as two $0.75 semi-annual installments, with the next ex-dividend date on June 30, 2026 and payment on July 22, 2026. The yield sits at roughly 1%, and management raised the FY26 buyback target to at least $8 billion, having already executed $5.5 billion in the first half.
Netflix pays nothing. Capital return is buybacks only, with $6.8 billion remaining authorization after repurchasing 13.5 million shares for $1.3 billion in Q1 2026. Buybacks help total return, but they don’t fund a retiree’s grocery bill. Disney wins.
Dimension 2: On Valuation, Disney Wins Netflix trades at a trailing P/E of 28 with a forward P/E near 27 and a price-to-sales ratio of 8. That’s a premium any way you cut it. Disney’s trailing P/E sits at 16, with a forward P/E of 14 and a price-to-book ratio of just 2. Analysts target $129.49 on shares trading near $101. Netflix’s analyst target of $114.56 against a current quote of $83.69 is a wider implied upside, but you’re paying nearly double the earnings multiple to get it.
For a retirement portfolio that prizes margin of safety, Disney’s cheaper multiple combined with 10%+ adjusted EPS growth guidance for FY2026 is the better risk-adjusted entry.
Dimension 3: On Growth Trajectory, Netflix Wins Here Netflix dominates. Q1 2026 revenue hit $12.25 billion, up 16% YoY, and free cash flow nearly doubled to $5.09 billion. Management guides FY2026 revenue to $50.7B to $51.7B, operating margin expanding to 32%, and free cash flow raised to approximately $12.5 billion. The subscriber base sits above 325 million paid members, advertiser count grew 70% YoY to over 4,000 clients, and ad revenue is on track to roughly double toward $3 billion in 2026.
Disney’s Q2 FY2026 revenue grew 7% to $25.17 billion, with net income falling 25%. Streaming did inflect, with SVOD operating margin reaching 11% and operating income up 88% in the segment, but the broader top line is growing at roughly a third of Netflix’s pace. Netflix’s return on equity of 49% versus Disney’s 11% seals it.
The Verdict Disney wins for the retirement-focused investor. The combination of a reinstated dividend, an 16x trailing P/E, double-digit EPS growth guidance, and the parks and cruise business serving as a non-streaming cash backstop is what a retiree’s equity sleeve should look like. The Experiences segment posted record full-year operating income of $9.99 billion in FY2025, providing diversified cash flow that Netflix structurally cannot match.
Netflix is the superior business by almost every operating metric, but it’s wrong for retirement income. It belongs in growth-tilted accounts with a 10-plus-year horizon, where the 762% ten-year return can compound undisturbed by withdrawal needs. For a retiree drawing income today, Disney is the answer.
A month has gone by since the last earnings report for Walt Disney (DIS - Free Report) . Shares have lost about 8.6% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Disney due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for The Walt Disney Company before we dive into how investors and analysts have reacted as of late.
Disney Q2 Earnings Surpass Estimates, Revenues Increase Y/YThe Walt Disney Company reported second-quarter fiscal 2026 adjusted earnings of $1.57 per share, up 8% year over year, beating the Zacks Consensus Estimate by 5.4%.
Revenues of $25.17 billion rose 7% year over year, topping the consensus mark by 0.55%.
Net income was $2.25 billion, or $1.27 per share, down from $3.28 billion, or $1.81 per share a year earlier, representing a 30% decline in reported EPS. The GAAP decline reflected higher income tax expense versus a one-time tax benefit in the prior-year period related to the resolution of a prior-year tax matter.
Entertainment Segment ResultsEntertainment revenues (46.5% of total revenues) increased 10% year over year to $11.72 billion. Subscription Video on Demand (SVOD) revenues increased 13% year over year to $5.49 billion. Content Sales revenues increased 8% year over year to $1.73 billion, reflecting higher theatrical distribution from the ongoing performance of Avatar: Fire and Ash and Zootopia 2 and the release of Hoppers compared with the ongoing performance of Mufasa: The Lion King and Moana 2 and the release of Captain America: Brave New World in the prior-year quarter.
Total segment’s operating income rose 4% year over year to $4.60 billion. The entertainment segment's operating income grew 6% to $1.34 billion at an operating margin of 11.4%. SVOD operating income surged 88% to $582 million, while other entertainment businesses generated $754 million, down 20% year over year.
Subscription and affiliate fees increased 14% year over year to $7.8 billion, with the Fubo transaction contributing approximately 500 basis points.
Advertising revenues grew 5% year over year to $1.67 billion, with the Fubo transaction contributing more than 100 basis points. Content sales revenues rose 8% year over year to $1.73 billion. Higher costs and expenses reflect a 400-basis-point increase from the Fubo transaction, alongside higher programming production, technology and distribution costs.
Streaming Performance and StrategySVOD revenues grew 13% year over year to $5.49 billion, with subscription fees climbing 16% to $4.71 billion and advertising revenues increasing 12% to $821 million. SVOD reported an operating margin of 10.6%.
Disney+ and Hulu reported SVOD operating income of $582 million, up 88% from $310 million in the prior-year quarter. Zootopia 2 generated $1.9 billion in global box office, and the Zootopia franchise surpassed 1 billion hours streamed on the service. DIS launched Verts on Disney+ in March to improve content discoverability and drive higher daily interaction. Disney+ and Hulu are on track to merge into a unified app experience later in the fiscal year, while Hulu has replaced the Star brand in international markets.
Sports Segment PerformanceSports revenues (18.3% of total revenues) rose 2% year over year to $4.61 billion. The Sports segment's operating income was $652 million, down 5% year over year. The decline reflected higher programming and production costs driven by contractual rate increases and the timing of rights cost recognition under renewed contracts, specifically a shift of college sports rights costs into the current quarter and NBA rights costs shifting to the third quarter. This was compounded by higher sales and marketing costs.
Subscription and affiliate fees rose 6% year over year to $3.25 billion, benefiting from higher effective rates and the NFL transaction, partially offset by fewer linear subscribers. Advertising revenues declined 2% year over year to $1.13 billion due to fewer impressions, the absence of UFC pay-per-view revenues and fewer NBA games relative to the prior-year quarter.
Despite competitive pressure from the Super Bowl and the Olympics, ESPN garnered the largest share of linear sports consumption among total viewers in the second quarter. ESPN Men's Tournament Challenge recorded 27 million completed brackets, an all-time high and up 7% over 2025. Revenue generated by ESPN's digital subscribers more than offset secular declines in the linear subscriber universe.
Experiences Segment Drives GrowthExperiences revenues (37.7% of total revenues) increased 7% year over year to $9.49 billion. Domestic Parks and Experiences revenues were $6.92 billion, up 6% year over year, while international revenues increased 11% year over year to $1.6 billion. Consumer Products revenues rose 3% year over year to $974 million.
Experiences operating income was $2.62 billion, up 5% year over year. Domestic Parks and Experiences operating income was $1.91 billion, up 5% year over year, driven by higher guest spending and an increase in passenger cruise days reflecting the launches of the Disney Destiny in November 2025 and the Disney Adventure in March 2026. Per capita spending at domestic parks rose 5% year over year, driven by growth in admissions, food and beverage and merchandise. Domestic parks attendance declined 1% year over year, reflecting continued softness in international visitation, though DIS noted it is beginning to lap prior-year attendance headwinds and expects year-over-year improvement in the third quarter.
International Parks and Experiences' operating income was $227 million, up 1% year over year. Consumer Products operating income increased 8% year over year to $479 million. Theme park admissions revenues grew 6% year over year to $3.09 billion, resorts and vacations revenues climbed 9% to $2.56 billion and parks and experiences merchandise, food and beverage revenues rose 5% to $2.20 billion. Pre-opening expenses for the Disney Adventure and World of Frozen weighed on Experiences operating income growth by roughly two percentage points.
Balance Sheet and Cash FlowAs of March 28, 2026, cash and cash equivalents totaled $5.68 billion, unchanged from $5.68 billion as of Dec. 27, 2025.
The current portion of borrowings declined to $8.89 billion from $10.82 billion sequentially, while long-term borrowings rose to $38.47 billion from $35.82 billion, reflecting a shift in debt maturity profile.
For the second quarter, cash provided by operations was $6.91 billion, up from $735 million in the prior quarter, and free cash flow was $4.94 billion compared with negative $2.28 billion in first-quarter of fiscal 2026.
DIS repurchased $3.47 billion of common stock in the second quarter.
Fiscal 2026 and 2027 OutlookFor the third quarter of fiscal 2026, DIS expects total segment operating income of approximately $5.3 billion. For fiscal 2026, DIS raised its share repurchase target to at least $8 billion from $7 billion and now expects adjusted EPS growth of approximately 12% excluding the 53rd week, or approximately 16% including it.
DIS targets an annual SVOD operating margin of at least 10% and Sports segment operating income growth of mid-single digits, though the NFL transaction is expected to be approximately 3 cents dilutive to fiscal 2026 adjusted EPS. For fiscal 2027, DIS continues to expect double-digit adjusted EPS growth.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresAt this time, Disney has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Disney has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Thanks to its long-standing leadership position in the media and entertainment landscape, Walt Disney (DIS 0.30%) is a highly regarded business. But owning it hasn't worked out well for investors. The share price has fallen by 44% over the past half-decade (as of June 3).
And this entertainment stock trades 51% below its all-time record. The underlying business is performing well, though.
Five years from now, will Disney be a boom, a bust, or quietly crushing it for shareholders?
Image source: The Motley Fool.
Strong financials amid macro uncertainty The macro and consumer backdrop isn't exactly the strongest today, but Disney's latest financial results were encouraging. Total revenue increased 7% year over year in the second quarter 2026 (ended March 28) to $25.2 billion.
This gain was driven by 7% growth in experiences. At a time of ongoing inflationary pressure, households are still finding it worthwhile to spend on a trip to a Disney theme park.
Revenue from Disney+ and Hulu, the company's two top streaming platforms, jumped 13%. Price increases implemented last October played a role here.
Management also mentioned that the ESPN flagship streaming service, launched last August, is making strides. "Revenue generated by our digital subscribers in Q2 more than offset secular declines in the linear subscriber universe," the earnings report read.
Disney's profit trajectory continues to impress. The leadership team believes adjusted earnings per share will rise 12% for the full fiscal year before posting double-digit growth in fiscal 2027.
Today's Change
(
-0.30
%) $
-0.30
Current Price
$
100.04
Figuring out the right valuation is tricky Assuming the global economy isn't in the middle of a severe recession in five years, Disney should continue to operate from a position of fundamental strength. Its invaluable intellectual property will still be core to its operations. And success will be achieved in streaming and experiences, as investors are witnessing today.
However, it's difficult to come up with the correct valuation. Market sentiment is incredibly challenging to forecast.
Disney shares currently trade at a forward price-to-earnings ratio of 13.8. I view this as a compelling valuation that justifies buying the stock.
But that doesn't mean shares will receive a higher multiple. This is a capital-intensive business that's not directly in the middle of the artificial intelligence boom and so doesn't support excessive market enthusiasm. Boom investments often come from hypergrowth opportunities. Disney doesn't fall into that bucket.
On the other hand, stocks usually end up going bust if the company in question starts to see its fundamentals deteriorate significantly. Again, it's unlikely Disney fits this category.
Therefore, I think the most likely scenario is that Disney is quietly crushing it in five years. Solid growth in both revenue and earnings, coupled with an upward valuation multiple re-rating, seems like a reasonable outcome.
Disney is executing a 'One Disney' strategy, integrating segments to drive synergistic profit and brand engagement. Q2 2026 results were strong: $25.17B revenue (+6.55% YoY) and $1.57 EPS, both beating expectations. Streaming achieved $582M in operating income in Q2, up 88% YoY, with Disney+ engagement and personalization initiatives highlighted.
At the 24% federal bracket, a $1 million dividend portfolio generating roughly $45,000 in annual income can hand the IRS between $6,750 and $10,800 every year, depending on how much of that income is qualified versus ordinary.
Inside a Roth IRA, that same income lands in your account untouched. This article walks through exactly what that delta looks like on six named holdings using verified 2026 federal brackets and current yields.
The $1 Million Portfolio and Its Blended Yield Here is the construction: Six holdings, allocated to produce a realistic blended yield in the 4% to 5% range, weighted toward income generation rather than growth.
Holding Allocation Current Yield Annual Income Tax Character Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) $300,000 ~4% $10,500 Qualified Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) $100,000 2% $2,250 Qualified Altria (NYSE: MO) $150,000 6% $8,760 Qualified Verizon (NYSE:VZ) $150,000 6% $8,640 Qualified AbbVie (NYSE:ABBV) $100,000 3% $3,080 Qualified Realty Income (NYSE:O) $200,000 5% $10,540 Ordinary (REIT) For the example portfolio above, the gross annual income is approximately $43,770. Of that, roughly $10,540 from Realty Income flows through as ordinary income, while the remaining $33,230 from the other five holdings qualifies for long-term capital gains rates.
The Tax Delta: Roth vs. Taxable at 24% At the 24% bracket, single filers with income between $50,400 and $105,700 pay 15% on qualified dividends and the full 24% on ordinary REIT distributions.
Taxable account: Qualified portion of $33,230 taxed at 15% costs about $4,985. The Realty Income ordinary income of $10,540 taxed at 24% costs about $2,530. Total tax drag: roughly $7,515. Net income: approximately $36,255. Roth IRA: Full $43,770 stays in the account. Net income: $43,770. Annual Roth advantage: roughly $7,515. 10-year Roth advantage (no reinvestment): approximately $75,150. Why each name belongs here matters. Realty Income is the priority Roth holding: as a REIT, distributions are taxed as ordinary income at your full marginal rate. Its $0.2705 monthly dividend compounds inside a Roth with zero leakage. Altria and Verizon pay qualified dividends, but their absolute yields make the dollar advantage meaningful. SCHD, JNJ, and AbbVie pay qualified dividends with lower yields, so the per-dollar Roth lift is smaller, but the compounding still matters across decades.
The Bracket Multiplier The same portfolio looks very different across brackets. Qualified dividend rates step from 15% to 20%, and the top 37% bracket kicks in above $640,600 for single filers in 2026. High earners also face the 4% net investment income tax.
Bracket Qualified Rate Ordinary Rate Annual Tax Cost Roth Advantage 22% 15% 22% ~$7,304 ~$7,304 24% 15% 24% ~$7,515 ~$7,515 32% 15% 32% ~$8,357 ~$8,357 37% 24% 41% ~$12,209 ~$12,209 A 37% bracket investor loses nearly double what a 22% bracket investor loses on the identical portfolio.
The Insight Most Readers Miss The Roth advantage compounds year after year. At the 24% bracket, the $7,515 annual delta reinvested at a conservative 4% compounding rate becomes roughly $90,000 over 10 years and roughly $225,000 over 20 years. That is the permanent cost of holding these specific positions outside a Roth, before any share price appreciation. With the 10-year Treasury at 4%, that reinvestment assumption is grounded in current rates.
What to Do Calculate the annual tax cost on any REIT holding at your bracket before your next filing. Realty Income’s 5% yield as ordinary income is the highest-friction position in this portfolio. Run the Roth conversion math on the highest-yielding ordinary-dividend positions first. REITs and BDCs carry the largest per-dollar lift. Model a phased conversion that prioritizes ordinary-income payers, then high-yield qualified payers like Altria and Verizon, before touching lower-yield qualified holdings like AbbVie and Johnson & Johnson.
CalPERS reports an average annual retirement benefit of approximately $45,264. Many California public employees who spend a full career in the system and retire with 30 or more years of service receive benefits above that average. A $1.4 million portfolio generating a conservative 3.5% yield produces about $49,000 a year in income, slightly exceeding the published average benefit. At higher yield levels, the same portfolio can generate substantially more income than the average pension payment.
The Income Target and the Base Math The calculation is straightforward: divide the income target by the portfolio yield to determine the capital required. Generating $45,264 annually at a 3.5% yield requires roughly $1.29 million of invested assets. A $1.4 million portfolio therefore provides a modest cushion above the average CalPERS retirement benefit.
With the 10-year Treasury yielding about 4.45%, investors accepting a dividend yield below that level are generally trading current income for other potential advantages, including dividend growth, favorable tax treatment in some cases, and the possibility of long-term capital appreciation.
Conservative Tier: 3% to 4% Yield This is the broad dividend-growth lane. Vanguard High Dividend Yield ETF (NYSEARCA:VYM) sits here, with an expense ratio of 0.04% and a distribution yield in the low 3% range. At 3.5%, $1.4 million produces $49,000 a year. At 4%, the same capital produces $56,000.
The reward is diversification across hundreds of names, rising dividends most years, and a principal balance that has historically appreciated alongside the broader market. This tier is most likely to keep pace with the CalPERS 2% cost-of-living adjustment and then some.
Moderate Tier: 5% to 7% Yield Realty Income (NYSE:O | O Price Prediction) yields 5.3% on its $3.23 annualized dividend, having paid a 670th consecutive monthly dividend with shares at $61. Altria (NYSE:MO) yields 5.8% on a $4.20 annualized payout, with shares at $70 and 2026 EPS guidance of $5.56 to $5.72.
A blend of net-lease REITs, tobacco, and preferred-share funds lands the portfolio in the 6% range. At 6%, $1.4 million produces $84,000 a year, nearly doubling the CalPERS average on the same capital. Dividend growth slows in this tier but does not stop.
Aggressive Tier: 8% to 14% Yield NEOS S&P 500 High Income ETF (NASDAQ:SPYI) runs a covered-call strategy on the S&P 500 designed for high monthly income in a tax efficient manner with the potential for equity appreciation in rising markets, with an expense ratio of 0.68% and net assets near $6.9 billion. Its distribution yield typically sits in the low double digits. Main Street Capital pays a regular monthly dividend of $0.26 plus a $0.30 quarterly supplemental, for total annualized income near $4.32 per share at a price of $51.
At a blended 10% yield, $1.4 million produces $140,000 a year, roughly triple the CalPERS average. The catch is that covered-call funds cap upside in rising markets and many high-yield vehicles see principal drift lower over long stretches. The investor in this tier is closer to spending down an asset than living off its growth.
Why the Lowest Yield Often Wins CalPERS pensions carry a 2% annual COLA cap, and CPI hit 332.4 in April 2026. A dividend-growth portfolio compounding payouts at 6% to 8% annually doubles its income in roughly 9 to 12 years. A 12% yield with no growth stays flat in nominal terms and loses purchasing power every year inflation runs hot. Wes Moss made the same point on the Clark Howard Podcast: “dividends have grown at twice the rate on average of inflation”, which is the structural advantage the aggressive tier gives up for current cash.
What to Do With This Math Calculate actual annual spending, not gross salary. Most retirees need to replace 70% to 80% of pre-retirement income, so the real target may be smaller than the CalPERS average suggests. Compare the trailing 10-year total return of a 3% to 4% dividend-growth fund against a 10%-plus covered-call or BDC product. The compounding gap usually shows up after year seven. Model the tax impact in your bracket. REIT distributions, BDC dividends, and covered-call ETF payouts each have different tax treatment, and a high-tax state like California can swing the after-tax yield by more than a percentage point.
Altria (MO - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this owner of Philip Morris USA, the nation's largest cigarette maker have returned -4.9% over the past month versus the Zacks S&P 500 composite's +5.4% change. The Zacks Tobacco industry, to which Altria belongs, has gained 1.3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Altria is expected to post earnings of $1.48 per share, indicating a change of +2.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.7% over the last 30 days.
The consensus earnings estimate of $5.68 for the current fiscal year indicates a year-over-year change of +4.8%. This estimate has changed +0.4% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $5.87 indicates a change of +3.4% from what Altria is expected to report a year ago. Over the past month, the estimate has changed +0.6%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Altria is rated Zacks Rank #2 (Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Altria, the consensus sales estimate for the current quarter of $5.35 billion indicates a year-over-year change of +1.1%. For the current and next fiscal years, $20.53 billion and $20.68 billion estimates indicate +2% and +0.7% changes, respectively.
Last Reported Results and Surprise HistoryAltria reported revenues of $4.76 billion in the last reported quarter, representing a year-over-year change of +5.3%. EPS of $1.32 for the same period compares with $1.23 a year ago.
Compared to the Zacks Consensus Estimate of $4.56 billion, the reported revenues represent a surprise of +4.39%. The EPS surprise was +6.45%.
Over the last four quarters, Altria surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Altria is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Altria. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.
At the 24% federal bracket, a portfolio throwing off $40,000 in high-yield dividend income hands roughly $9,600 to the IRS every year when those shares sit in a taxable account treated as ordinary income. For investors in the gap years between retirement and RMD age 73, that drag compounds quietly until required minimum distributions force the math into the open.
The Closing Window Before RMDs Under SECURE 2.0, the RMD age sits at 73 for taxpayers born between 1951 and 1959 and steps up to 75 for those born in 1960 or later. The years between retiring and that first forced distribution are the cleanest window to convert traditional IRA assets into a Roth, harvest qualified dividends at the 0% long-term capital gains rate (available up to roughly $96,000 of taxable income for joint filers in 2026) and relocate the highest-yielding positions before ordinary-income withdrawals take over. Roth IRAs carry no RMD for the original owner, which is the entire point of the relocation.
The Tax Delta: Roth Versus Taxable at 24% Take a $500,000 high-yield position generating $40,000 in annual dividends. If those payouts were treated as ordinary income at the 24% bracket, the net drops to $30,400. Inside a Roth, it stays at $40,000. The annual delta is $9,600, and it repeats every year the position is held. Qualified dividends from the blue chips below get preferential LTCG treatment, so the realized gap is smaller than the ordinary-rate worst case, but it widens fast once household income climbs above the 0% LTCG threshold or if Congress lets current rates rise.
The Portfolio Five NYSE-listed dividend payers, ranked by current yield. The higher-yield names carry the strongest case for Roth placement during the gap-year window.
Altria (NYSE:MO | MO Price Prediction): current yield 6%, quarterly dividend $1.06. The largest absolute income stream in the group and the position where Roth shelter saves the most dollars per year. Verizon Communications (NYSE:VZ): current yield 6%, with 26+ consecutive years of annual dividend increases. Same logic as MO: large income, large tax footprint outside a Roth. AT&T (NYSE:T): current yield 4%, annualized dividend $1.11. Stable at the current rate for four-plus years after the 2022 reset. Procter & Gamble (NYSE:PG): current yield 3%, with 70+ consecutive years of increases. Lower starting yield, but compounded raises make the Roth shelter pay off across a 20-year horizon. Johnson & Johnson (NYSE:JNJ): current yield 2%, after a Q2 2026 raise to $1.34 per quarter and 64 consecutive years of hikes. The dividend growth builds the Roth case here, even with a modest starting yield. The Bracket Multiplier The 24% number is the middle of the band. Federal brackets for 2026 sit at 22%, 24%, 32%, and 37%. Apply each to the same $40,000 in dividends treated as ordinary income, and the annual Roth advantage scales linearly: a 22% household trims less than a 37% household to the IRS, but every bracket pays. The higher the bracket, the more urgent the asset-location decision becomes during the gap years, when conversion taxes are still cheap.
The Insight Most Readers Miss The real Roth advantage is that $9,600 delta reinvested tax-free, every year, with no future RMD pulling capital back out. Average Baby Boomer 401(k) balances of $267,900 and IRA balances of $257,002 mean millions of pre-retirees are about to start RMDs on accounts large enough that asset location drives the next decade of after-tax income more than stock selection. Held outside a Roth, the tax cost on a $40,000 dividend stream is permanent and recurring. Held inside, it is zero.
What to Do If your highest-yielding names sit in a taxable account, calculate your annual tax cost at your bracket before the next filing and rank positions by absolute dollar drag. Model a phased Roth conversion across the gap years, starting with the highest-yielders (MO, VZ, T in this group) before RMDs raise your marginal bracket. If your 2026 taxable income will land below the $96,000 MFJ threshold, harvest qualified dividends or convert at the 0% LTCG rate while the window is open.
Key Takeaways Campbell's Q3 revenues are expected to be $2.39 billion, down 3.6% year over year. Campbell's Q3 EPS is expected at 48 cents, down 34.3% year over year. CPB Meals & Beverages shows resilience, led by Rao's and demand for broth, soup and meal solutions. The Campbell's Company (CPB - Free Report) is likely to witness a top and bottom-line decline when it reports third-quarter fiscal 2026 earnings on June 8. The Zacks Consensus Estimate for revenues is pegged at $2.39 billion, indicating a decrease of 3.6% from the prior-year quarter’s reported figure.
The consensus mark for earnings has fallen by a penny over the past 30 days to 48 cents a share, which suggests a decline of 34.3% from the figure reported in the year-ago period. CPB has a trailing four-quarter negative earnings surprise of about 4%, on average.
Factors Likely to Influence CPB’s Upcoming ResultsCampbell’s third-quarter performance is likely to have remained under pressure, reflecting continued weakness in its Snacks business. During the second-quarter earnings discussion, management highlighted challenged demand trends across the segment, particularly in chips and pretzels, where increased competitive activity and share pressures weighed on performance.
The company has been focused on restoring competitiveness through sharper value offerings, promotional support and improved in-market execution. However, management indicated that the Snacks recovery would take time, suggesting that category headwinds and competitive pressures likely continued to weigh on volumes and sales during the quarter. Our model suggests a 4.8% volume decline and a 3.9% revenue decline for the Snacks segment for the third quarter.
Another factor likely to hurt third-quarter results is the continued disruption within the Fresh Bakery business. On its last earnings call, management noted that manufacturing and distribution execution challenges had emerged before the winter storms and were expected to remain a third-quarter headwind as the company worked to improve service levels and on-shelf availability. Management also indicated that certain promotional activities would be scaled back while operational improvements were implemented, with normalization not anticipated until the fourth quarter. Execution challenges and reduced promotional support may have constrained sales and profitability in the reported quarter.
Margin performance is also likely to have remained pressured. Campbell’s continues to face cost inflation, tariff-related expenses and broader supply-chain cost headwinds, which weighed on profitability in the first half of fiscal 2026. Management signaled plans for incremental trade investments and targeted promotional activity to enhance value perception and strengthen competitiveness in key categories. Persistent volume softness in Snacks may have also resulted in manufacturing and overhead deleverage, weighing on bottom-line performance. We expect the gross margin to contract 330 basis points to 27.1% in the third quarter.
On the positive side, Campbell’s Meals & Beverages segment has continued to demonstrate resilience, supported by favorable cooking-at-home trends and solid in-market performance across key brands. Continued strength in Rao’s, along with demand for broth, cooking-oriented soup offerings and meal solutions, is likely to have offset weakness in Snacks.
Earnings Whispers for CPBOur proven model doesn’t conclusively predict an earnings beat for Campbell's this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Campbell's carries a Zacks Rank #5 (Strong Sell) and has an Earnings ESP of +0.81%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Altria Group, Inc. (MO - Free Report) currently has an Earnings ESP of +2.72% and a Zacks Rank of 2. The Zacks Consensus Estimate for its upcoming quarter’s revenues is pegged at $5.35 billion, indicating a 1.1% rise from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Altria’s earnings is pegged at $1.48 per share, implying 2.8% growth from the year-ago quarter. MO delivered a trailing four-quarter earnings surprise of 2.9%, on average.
Albertsons Companies (ACI - Free Report) currently has an Earnings ESP of +14.25% and a Zacks Rank of 3. The consensus estimate for the quarterly revenues is pinned at $24.82 billion, which indicates a 0.3% dip from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Albertsons’ upcoming quarter’s EPS is pegged at 55 cents, which is in line with the year-ago period figure. ACI delivered a trailing four-quarter earnings surprise of 8.9%, on average.
Darling Ingredients (DAR - Free Report) currently has an Earnings ESP of +22.16% and a Zacks Rank #3. The consensus estimate for quarterly revenues is pegged at $1.73 billion, which indicates an increase of 17.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Darling Ingredients’ upcoming quarter’s earnings per share is pegged at $1.20, calling for a substantial jump from the year-ago period’s figure of 9 cents. DAR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Item 1 of 3 Flavored vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo
[1/3]Flavored vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo Purchase Licensing Rights, opens new tab
CompaniesLONDON, June 4 (Reuters) - Six U.S. senators, including Democratic whip Dick Durbin and Elizabeth Warren, wrote public letters to tobacco giants Reynolds American and Altria (MO.N), opens new tab on Thursday to ask questions about donations and lobbying of the Trump administration, saying the companies had enjoyed a "lucrative payday" after spending millions to curry favour with the president.
The letter comes after the U.S. Food and Drug Administration laid out a new "enforcement discretion" policy in which it will allow some manufacturers to sell vapes and nicotine pouches without the legally required licence. The move could unleash hundreds or more vapes onto the market, and followed pressure from the White House for change.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
It also followed political donations from both Reynolds, the U.S. subsidiary of British American Tobacco (BATS.L), opens new tab, and Altria as recently as April, and a meeting between President Donald Trump and tobacco executives in May.
A bar chart showing a group of tobacco or vape group's contributions to entities or projects linked to Trump"Money well spent," the letters, dated June 4, said, adding that the donations and lobbying had enabled tobacco makers to circumvent federal laws to sell addictive vapes, harming the FDA's independence.
"But for you and your shareholders, this was a lucrative payday after years of unsuccessful legislative and regulatory efforts to weaken federal tobacco oversight," it said, asking for details on donations, meetings and products that will benefit from the change.
"FDA's regulatory treatment of nicotine pouches and vapes is rooted in recent evidence that has found that these products can help adults quit smoking," White House spokesperson Kush Desai said.
An Altria spokesperson said "the guidance is an important step toward addressing the illicit market by pairing enforcement with expansion of a legal, regulated marketplace for smoke-free products," adding that the company is reviewing the implications of its product strategy and will continue to compete within the FDA regulated marketplace.
Reynolds did not immediately respond to requests for comment.
The companies have complained for years that FDA policy has helped fuel a booming market for unlicensed devices mostly from China. Reynolds estimates this illegal market is worth some £7 billion ($9.41 billion).
The companies have launched lobbying campaigns and court cases, put sales targets on hold and threatened to launch their own unlicensed products to compete.
Tobacco companies have already announced plans to launch new products following the "enforcement discretion" policy.
The letters were signed by Democratic senators Durbin of Illinois, Warren and Edward Markey of Massachusetts, Jeff Merkley of Oregon, Richard Blumenthal of Connecticut and Jack Reed of Rhode Island.
($1 = 0.7435 pound)
Reporting by Emma Rumney in London; Editing by Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Key Takeaways MAMA is set to report Q1 FY27 on June 8; revenues are estimated at $51.8M, up 46.9% YoY. MAMA leans on distribution gains at Walmart, Target and Food Lion, plus deeper retail penetration. MAMA advances Crown 1 synergies, but commodity and freight inflation may pressure profitability. Mama's Creations, Inc. (MAMA - Free Report) is likely to witness top-line growth when it reports first-quarter fiscal 2027 earnings on June 8, 2026. The Zacks Consensus Estimate for revenues is pegged at $51.8 million, indicating an increase of 46.9% from the prior-year quarter’s reported figure.
The consensus mark for earnings has remained unchanged over the past 30 days at 3 cents a share, which is in line with the year-ago period. MAMA has a trailing four-quarter earnings surprise of 125%, on average.
Factors Likely to Influence MAMA’s Upcoming ResultsMama’s Creations is likely to have benefited from continued distribution gains and deeper penetration across key retail accounts in the first quarter of fiscal 2027. The company entered the quarter with recent placement wins at major national retailers, including Walmart, Target and Food Lion, while management remained focused on expanding products carried by existing customers. Growing shelf presence, broader geographic reach and increasing branded placements are expected to have supported sales momentum.
Another key driver is expected to be the ongoing integration of the Crown 1 acquisition. Management has highlighted progress in centralizing procurement and logistics, optimizing production across its manufacturing network and realizing operational synergies. Cross-selling opportunities between MAMA’s legacy customer base and Crown 1’s premium accounts have also started to gain traction, creating additional avenues for growth. These efforts support the company’s strategy of becoming a one-stop-shop provider of fresh prepared foods.
Mama’s Creations is also benefiting from favorable consumer trends, with shoppers increasingly seeking fresh, convenient and protein-focused meal solutions. Product innovation, including new prepared-food offerings and No Antibiotics Ever chicken products, along with expanded marketing and promotional initiatives, is likely to have supported customer acquisition and product velocities.
On the downside, the quarter may have been affected by inflationary pressures in key commodity and freight markets. Although management has implemented pricing actions, commodity contracts and operational initiatives to offset these headwinds, cost inflation and ongoing optimization efforts related to the Crown 1 integration may have created some near-term pressure on profitability.
Q1 Earnings Whispers for MAMAOur proven model doesn’t conclusively predict an earnings beat for Mama's Creations this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Mama's Creations currently carries a Zacks Rank #4 (Sell) and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Altria Group, Inc. (MO - Free Report) currently has an Earnings ESP of +2.72% and a Zacks Rank of 2. The Zacks Consensus Estimate for its upcoming quarter’s revenues is pegged at $5.35 billion, indicating a 1.1% rise from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Altria’s earnings is pegged at $1.48 per share, implying 2.8% growth from the year-ago quarter. MO delivered a trailing four-quarter earnings surprise of 2.9%, on average.
Darling Ingredients (DAR - Free Report) currently has an Earnings ESP of +22.16% and a Zacks Rank #3. The consensus estimate for quarterly revenues is pegged at $1.73 billion, which indicates an increase of 17.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Darling Ingredients’ upcoming quarter’s earnings per share is pegged at $1.20, calling for a substantial jump from the year-ago period’s figure of 9 cents. DAR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Albertsons Companies (ACI - Free Report) currently has an Earnings ESP of +14.25% and a Zacks Rank of 3. The consensus estimate for the quarterly revenues is pinned at $24.82 billion, which indicates a 0.3% dip from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Albertsons’ upcoming quarter’s EPS is pegged at 55 cents, which is in line with the year-ago period figure. ACI delivered a trailing four-quarter earnings surprise of 8.9%, on average.
In the latest trading session, Altria (MO - Free Report) closed at $72.19, marking a +2.25% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.65%. Elsewhere, the Dow saw a downswing of 1.35%, while the tech-heavy Nasdaq depreciated by 4.18%.
Shares of the owner of Philip Morris USA, the nation's largest cigarette maker witnessed a gain of 2.26% over the previous month, beating the performance of the Consumer Staples sector with its loss of 0.58%, and underperforming the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Altria in its upcoming release. The company is predicted to post an EPS of $1.48, indicating a 2.78% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.35 billion, showing a 1.06% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.68 per share and revenue of $20.53 billion. These totals would mark changes of +4.8% and +1.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Altria. These recent revisions tend to reflect the evolving nature of short-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 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 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 a 0.12% increase. Altria currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Altria has a Forward P/E ratio of 12.43 right now. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 12.43.
Investors should also note that MO has a PEG ratio of 2.64 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Tobacco industry was having an average PEG ratio of 2.02.
The Tobacco industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 16% of over 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.
To follow MO in the coming trading sessions, be sure to utilize Zacks.com.
Altria (MO - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, MO broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, MO has gained 6%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Looking at MO's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch MO for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Ten thousand dollars a month in dividend income works out to $120,000 per year. That is enough to cover the rent on a luxury waterfront condo in Miami Beach, one of the most expensive rental markets in the country. The math that gets you there is simple: $120,000 divided by your portfolio yield equals the capital required. The interesting part is not the calculation itself, but the tradeoffs investors make at each point along the yield curve.
The Conservative Tier: 3% to 4% Yield This is the dividend-growth lane. At 3% to 4%, replacing $120,000 of income takes roughly $3.0 million to $4.0 million in capital. Specifically: $120,000 divided by 0.035 is about $3,428,000. At 0.04 it is $3,000,000.
The vehicles here are broad dividend-growth ETFs and Aristocrat-style blue chips. Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) just raised its quarterly payout to $1.34, extending 64 consecutive years of increases, and yields around 2.3%. Procter & Gamble (NYSE:PG) has paid dividends since 1890 and yields 2.9%. Coca-Cola (NYSE:KO) yields 2.6% and just lifted its quarterly to $0.53. The Schwab U.S. Dividend Equity ETF (SCHD) pulls the average up, charges 0.06%, and holds $71.6 billion.
The tradeoff: highest capital requirement, lowest current yield, but the income line compounds. JNJ’s annual payout has gone from $1.09 in 1999 to $5.20 in 2025. That is the engine that does the heavy lifting over a 20-year retirement.
The Moderate Tier: 5% to 7% Yield Capital required drops to roughly $1.7 million to $2.4 million. At 6%, $120,000 divided by 0.06 equals $2,000,000. At 7%, about $1,714,000.
The menu here is high-yield equity, REITs, preferred-share funds, and covered-call ETFs. Altria (NYSE:MO) anchors the category at a 6.1% yield with a $1.06 quarterly payout and a forward P/E of 12. Pair that with REIT funds, preferred-share funds, or equity-income covered-call products to fill out the tier.
You buy more current income for less capital. You give up most of the dividend-growth compounding, and covered-call sleeves cap your equity upside in a strong market.
The Aggressive Tier: 8% to 14% Yield This is where the capital requirement collapses to $857,000 to $1.5 million. At 10%, $120,000 divided by 0.10 is $1,200,000. At 12%, exactly $1,000,000.
Business development companies, mortgage REITs, leveraged covered-call funds, and high-yield bond funds populate this tier. Ares Capital (ARCC) yields 10.1% on a $0.48 quarterly distribution and trades near book value at $19.59 NAV. The catch: ARCC’s NAV slipped from $19.94 last quarter, and the shares are down about 4% year to date. That is the signature of the tier. The income shows up, the principal does not always.
The Compounding Effect Many Investors Underestimate A conservative $4 million portfolio generating $120,000 in annual income today may not look exciting at first glance. However, if those dividends grow at 6% to 9% per year, the income stream can exceed $250,000 annually within about 12 years, even before accounting for any share-price appreciation. By contrast, an aggressive portfolio designed to maximize current yield may start with less capital and higher payouts, but income growth is often limited. As distributions are reduced and net asset values decline, the long-term income advantage can narrow significantly.
Why Taxes Matter as Much as Yield Once dividend income reaches $120,000 per year, taxes become a major factor in portfolio construction. Qualified dividends from companies such as Johnson & Johnson, Procter & Gamble, Coca-Cola, and many distributions from SCHD are generally taxed at long-term capital gains rates rather than ordinary income rates. Higher-yield investments, including many business development companies, mortgage REITs, and covered-call funds, often generate distributions taxed as ordinary income. That difference can have a meaningful impact on the amount of income investors actually keep. With the 10-year Treasury yielding around 4.5%, investors should evaluate not only the size of a portfolio’s yield, but also how much of that income remains after taxes.
Three Moves Before You Commit Track your actual after-tax spending for 12 months. A household netting $120,000 often grosses far less than its salary suggests, which can shrink the required capital by hundreds of thousands. Hold ordinary-income payers (BDCs, mREITs, covered-call ETFs) inside an IRA or 401(k). Keep qualified-dividend stocks in the taxable account where the 15% rate applies. Compare a 10-year total return for a 3.5% dividend-growth fund against a 10% high-yield fund using their actual distribution histories. The growth side’s compounding usually wins past year seven, and that is the decision you are really making.
Altria (MO - Free Report) closed at $71.41 in the latest trading session, marking a -2.35% move from the prior day. This move lagged the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
Prior to today's trading, shares of the owner of Philip Morris USA, the nation's largest cigarette maker had gained 2.22% outpaced the Consumer Staples sector's gain of 1.72% and the S&P 500's loss of 1.63%.
The upcoming earnings release of Altria will be of great interest to investors. The company's earnings report is expected on July 30, 2026. The company is expected to report EPS of $1.48, up 2.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.35 billion, up 1.06% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.68 per share and revenue of $20.53 billion, indicating changes of +4.8% and +1.96%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Altria. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been a 0.12% rise in the Zacks Consensus EPS estimate. At present, Altria boasts a Zacks Rank of #2 (Buy).
In terms of valuation, Altria is currently trading at a Forward P/E ratio of 12.87. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 12.87.
We can additionally observe that MO currently boasts a PEG ratio of 2.74. 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. The average PEG ratio for the Tobacco industry stood at 2.11 at the close of the market yesterday.
The Tobacco industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MO in the coming trading sessions, be sure to utilize Zacks.com.
Altria Group (NYSE:MO | MO Price Prediction) at $73.13 looks like a name to hold rather than add to. The yield is too rich to abandon, but the entry point is too high to fund with fresh capital while the U.S. consumer wobbles.
Altria sells Marlboro, Black & Mild cigars, Copenhagen and Skoal smokeless tobacco, on! nicotine pouches, and the impaired NJOY e-vapor unit. Shares have climbed 33.68% over the past year and 28.94% year to date, brushing a 52-week high of $74.56 and pushing past Wall Street consensus.
A 33% Rally Into a Slowing Consumer The personal savings rate fell to 3.7% in Q1 2026 from 5.2% a year earlier, and aggregate personal saving has contracted 35.1% since early 2024. Premium tobacco pricing power depends on a consumer with less cushion.
Why the Yield Bulls Keep Adding Altria delivered 7.3% adjusted EPS growth in Q1 2026, smokeable margins expanded to 65.1%, and management reaffirmed full-year 2026 adjusted EPS of $5.56 to $5.72. The annualized dividend sits at $4.24 after the 60th increase in 56 years, good for a 5.81% yield.
Altria returned $8 billion to shareholders in 2025 and has $720 million left on the buyback through year-end. With a 0.501 beta and a forward P/E of 13, this is the kind of low-volatility income story dividend investors hoard. Reddit’s r/dividendinvesting community holds a steady bullish 71 sentiment score on the name.
The Volume Story That Won’t Quit The core business is shrinking. Domestic cigarette industry volumes fell roughly 5% in Q1 2026 after a 10.0% drop for full-year 2025. Marlboro retail share slipped 1.4 points to 39.7%, and the on! pouch share collapsed 4.2 points to 13.4% as competitors captured growth in the one category that should be a tailwind.
Discount cigarettes captured 33.3% of industry share, up 2.4 points, evidence of trade-down. NJOY ACE is sidelined by an ITC exclusion order after $2.2 billion in e-vapor impairments. Stockholders’ equity is negative $3.2 billion, and a CEO transition looms.
Why Patience Beats Conviction Here Pricing power and buybacks can carry adjusted EPS to the 2.5% to 5.5% growth band guidance, but a Q1 revenue beat propped up by 610 million contract-manufactured export sticks is not organic strength. Collect the dividend, watch H2 2026 volume trends, and reserve fresh capital for a deeper pullback.
What the Numbers Show Altria trades at $73.13 against a Wall Street consensus target of $70.36, implying roughly 3.7% downside. The trailing P/E is 15 and the forward multiple is 13, both modest but stretched against single-digit EPS growth.
The YTD return of 28.94% dwarfs the S&P 500’s roughly 6% YTD gain. Of 14 analysts covering the stock:
Buy: 5 Hold: 7 Sell: 1 Strong Sell: 1 The Verdict on Altria at $73 At $73, Altria is a Hold. The dividend is intact and growing, the buyback is funded, and management has reaffirmed guidance. None of that justifies a fresh entry above analyst consensus while Marlboro and on! both cede share and the savings rate craters. Existing holders are paid 5.81% to wait.
Conditions that would flip this to a Buy: a pullback toward the $64.46 200-day moving average, stabilization in Marlboro retail share, and evidence that on! is reclaiming pouch category points. Conditions that would flip it to a Sell: a guidance cut, a dividend coverage scare, or a 2027 outlook that fails to clear mid-single-digit EPS growth.
Watch the Q2 earnings report for organic smokeable volume excluding the export contract boost, the on! share line, and incoming CEO commentary on capital allocation discipline given negative $3.2 billion in equity.
At $73, Altria pays you to wait, but it does not pay you enough to chase.
Citi strategist Scott Chronert lifted his year-end S&P 500 target to 8100, arguing that strong earnings growth and AI spending continue to outweigh macroeconomic risks. (NYSE)
The market’s brutal Friday selloff was a sharp departure from its recent gains. However, with earnings remaining strong, one firm sees a clear path higher.
Key Takeaways Target Q1 FY26 comparable sales climbed 5.6%, led by a 4.4% jump in traffic.Digital comps rose 8.9% and store comps 4.7%, showing shoppers engaged across channels.New products, refreshed assortments and enhanced in-store experiences helped draw guests back. Target Corporation’s (TGT - Free Report) first-quarter fiscal 2026 performance suggests that one of the most important drivers of retail growth is beginning to move in the right direction again — customer traffic. After facing softer demand trends over the past year, the retailer saw shoppers return to stores and digital channels in meaningful numbers, helping fuel broad-based sales growth across the business.
Comparable sales increased 5.6% in the first quarter, driven primarily by a 4.4% rise in traffic, a notable turnaround from the 2.4% decline recorded in the year-ago period. Management highlighted traffic as the largest contributor to growth, calling it an encouraging sign because it reflects more guests choosing Target more often.
The strength was not limited to one part of the business. Store comparable sales rose 4.7%, while digital comparable sales increased 8.9%, indicating that shoppers engaged with Target across multiple channels. Traffic gains also coincided with growth in all six core merchandise categories, reinforcing the breadth of the recovery.
Target tied the improvement to recent merchandising and experience initiatives. Management noted that categories where Target introduced new products, refreshed assortments and enhanced in-store experiences generated positive guest responses.
For now, the key takeaway from the quarter is clear. Target’s efforts are drawing shoppers back, and rising traffic is emerging as a meaningful engine behind its renewed growth momentum.
How Target Compares With Walmart and Costco’s Comp SalesWhile Target is showing signs of improving category momentum, peer performance provides additional context on how consumer demand is trending across the retail landscape.
Walmart Inc. (WMT - Free Report) posted U.S. comparable sales growth of 4.1% in the first quarter of fiscal 2027, driven by higher customer transactions, increased unit volumes and strong e-commerce performance. Walmart continued to gain market share across income groups while benefiting from growth in advertising, marketplace sales and Walmart+ membership revenues. Walmart’s results reflected steady demand for both grocery and general merchandise offerings.
Costco Wholesale Corporation’s (COST - Free Report) third-quarter fiscal 2026 comparable sales rose 9.8%, helped by fuel inflation and foreign exchange. Costco’s adjusted comparable sales increased 6.6%, reflecting broad-based demand, with traffic up 2.4% and adjusted ticket growth of 4.2%. Costco also posted healthy regional adjusted comps of 6.8% in the United States, 6.2% in Canada and 5.9% internationally.
What the Latest Metrics Say About TargetTarget has seen its shares jump 1.2% over the past three months against the industry’s decline of 1.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, Target's forward 12-month price-to-earnings ratio stands at 14.35, lower than the industry’s ratio of 31.29. However, it is trading above its 12-month median level of 13.25, suggesting that while the stock remains discounted versus the industry, part of the recent operating improvement may already be priced in.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Target’s current financial-year sales and earnings per share implies year-over-year growth of 3.9% and 10.3%, respectively. The consensus mark for earnings has risen 33 cents to $8.35 per share over the past 30 days.
Image Source: Zacks Investment Research
Target currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
S&P 500 companies are pivoting hard back to shareholder returns, and the dividend declarations rolling in this spring have already locked in record-breaking streaks. Johnson & Johnson just extended one to 64 consecutive years. Procter & Gamble stretched its own to 70. If you are sitting in cash waiting for a signal, the signal is the checks already being cut. Here are five US-listed names hiking payouts (or buying back stock at scale) right now, ranked by how much of that capital is likely to land in your pocket.
1. Ingersoll Rand (The Surprise Pick) You buy Ingersoll Rand (NYSE:IR | IR Price Prediction) because the industrial compressor maker is quietly running one of the most aggressive total-capital-return programs in the mid-cap industrial space, and the stock has just gotten cheap enough to notice. Shares are trading near $72.01, down 9% year to date and 12% over the past year, while the underlying business keeps compounding.
In 2025, IR returned $1,050 million to shareholders, with $1,018 million of that coming through buybacks and the remainder via the $0.02 quarterly dividend. Q1 2026 brought revenue of $1.85 billion (up 7.6% year over year) and adjusted EPS of $0.77 against a $0.74 estimate. Management guided FY2026 to adjusted EPS of $3.45 to $3.57 with free-cash-flow conversion near 95%.
CEO Vicente Reynal told investors, "We began 2026 with solid momentum, delivering high single-digit Adjusted EPS growth." That cash is going straight back to holders. The heavyweight dividend hikes start next.
2. Johnson & Johnson (The Dividend King) Johnson & Johnson (NYSE:JNJ) is the obvious heavyweight, and right now the obvious is also the most underowned big-cap dividend story in the market. The board just approved a 3.1% increase to $1.34 per share, the 64th consecutive year of dividend growth. Payment hits accounts on June 9, 2026. The yield sits at 2.33%, which sounds modest until you remember this is a Dividend King with a beta of 0.263.
Q1 2026 delivered revenue of $24.06 billion (up 9.9%) and adjusted EPS of $2.70. The standouts: DARZALEX at $3.96 billion (+22.5%), TREMFYA at $1.61 billion (+68.3%), and CARVYKTI at $597 million (+62.1%). Management raised full-year guidance to $100.3 to $101.3 billion in revenue and $11.45 to $11.65 in adjusted EPS. CEO Joaquin Duato said the company is "delivering on its promise for a year of accelerated growth and impact."
The stock is up 53% over the past year. Dividend Kings do not normally move like that. Want a longer streak? Keep reading.
3. Procter & Gamble (The Longest Streak on Wall Street) If JNJ's 64 years sounds long, Procter & Gamble (NYSE:PG) just notched its 70th consecutive annual dividend increase and its 136th consecutive year of dividend payments. P&G has paid a dividend every year since incorporation in 1890. No company on this list, or virtually any list, comes close.
The most recent ex-dividend payment stepped up to $1.0885 per share from $1.0568. Management plans to return roughly $10 billion in dividends in FY2026 plus another $5 billion in buybacks. Fiscal Q3 2026 delivered revenue of $21.24 billion (up 7.4%) and core EPS of $1.59. CEO Shailesh Jejurikar acknowledged a $400 million after-tax tariff hit but said the company is "increasing investments to accelerate momentum with consumers despite the challenging geopolitical and economic environment."
The stock is roughly flat year to date at $140.78 and down 13% over the past year. Reddit's r/dividendinvesting community has been parked on the name with sentiment scores in the 70-72 range through late May. Income investors are doing the buying while everyone else looks elsewhere.
4. Target (The Turnaround Dividend Aristocrat) This is where the story gets interesting. Target (NYSE:TGT) just declared its 235th consecutive quarterly dividend at $1.14 per share, up from $1.12. The yield is 3.64%, the highest on this list, and the company is paying it through a clear turnaround. I have been watching Target's dividend record for years, and what stands out is that it kept paying right through the 2008 crisis, the 2020 pandemic, and the 2022-2024 margin reset. That is the kind of muscle memory you cannot fake.
Q4 fiscal 2026 brought revenue of $30.45 billion and adjusted EPS of $2.44 against a $2.16 estimate. Gross margin expanded 40 basis points to 26.6%, membership revenue more than doubled, and marketplace grew 30%. There is roughly $8.3 billion remaining on the buyback authorization. CEO Michael Fiddelke said Target saw "a healthy, positive sales increase in February, serving as an important milestone on our path back to growth this year."
You buy TGT here if you believe the high-margin ad and membership businesses are masking a real consumer recovery underneath. The market already started believing: shares are up 29% year to date. The next name makes that look small.
5. Apple (The Payoff) Here is the punchline. Apple (NASDAQ:AAPL) raised its dividend 4% to $0.27 per share, the smallest percentage hike on this list. Then the board authorized an additional $100 billion share repurchase program. That single buyback authorization is larger than the combined market caps of most companies in the S&P 500. Disclosure: I have owned Apple since December 2012, and these capital-return announcements are the reason the position keeps compounding without my doing anything.
Fiscal Q2 2026 delivered revenue of $111.18 billion (up 16.6%) and EPS of $2.01, the eighth consecutive EPS beat. iPhone revenue hit a record March quarter of $56.99 billion, and Services posted an all-time record of $30.98 billion. CEO Tim Cook said, "Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment." The December quarter alone produced $53.92 billion in operating cash flow and $24.7 billion in buybacks.
Polymarket assigns a 71% probability that AAPL hits $304 in June and 98% probability it stays above $300 for the week. Shares already trade at $311.23, up 54% over the past year. The buyback math is the punchline: at current prices, the new authorization could retire well over 2% of the float on top of an already shrinking share count. That is the engine.
The Pivot Is Already Happening Dividend declarations are checks already signed. Between JNJ's 64-year streak, P&G's 70-year run, Target's 235 consecutive quarters, Ingersoll Rand's billion-dollar buybacks, and Apple's $100 billion authorization, the cash leaving these balance sheets in 2026 is measured in the hundreds of billions. Goldman Sachs is already "closely monitoring whether buyback activity expands beyond a few sectors", which is corporate-speak for it is happening. Record dates are landing this month. Miss the ex-date, miss the check.
VANCOUVER, British Columbia, June 09, 2026 (GLOBE NEWSWIRE) -- SPARC AI Inc. (the “Company”) (CSE: SPAI) (OTCQB: SPAIF) (Frankfurt: 5OV0) a defence technology company building Overwatch, the GPS denied navigation and target acquisition software platform for drones and autonomous systems, today announced the successful completion of a 43km long-range target acquisition test conducted over open water in Port Phillip Bay, Victoria, Australia. The target recording was done at a drone height of 115m above ground level.
The 43km demonstrated span is comparable to, and in some measurements exceeds, the narrowest width of the Strait of Hormuz, one of the world’s most strategically significant maritime chokepoints. The comparison illustrates the scale of contested, GPS-denied maritime environments in which the capability is designed to operate.
SPARC AI is also pleased to announce it has integrated image recognition into the SPARC AI drone controller application, adding further capability to its targeting solution. Overwatch brings together targets recorded by multiple drones across different manufacturers and different locations onto a single operating map, where operators can classify and track targets, collaborate, and plan missions in one shared picture. With image recognition now overlaid onto that picture, operators gain richer intelligence and can respond more rapidly across teams.
Capabilities of this kind have historically been locked inside expensive, proprietary drone platforms. By delivering them as software across any manufacturer's hardware, the Company believes Overwatch meaningfully expands its addressable market and positions the platform as a premium software layer rather than a single-aircraft feature.
Looking ahead, the next phase of Overwatch's development will introduce the ability to deploy multiple drones directly from the platform. The company is developing teaming and swarm capability that it believes will be unique to Overwatch with the ability to deploy and coordinate drones from different manufacturers, operating from different locations, simultaneously and to do so in a GPS-denied environment.
SPARC AI intends to make these capabilities available to its partners in Dubai, Ukraine and the United States with the next software update.
About SPARC AI Inc.
SPARC AI Inc. develops next-generation, GPS-free target acquisition and intelligence software for defence drones and edge devices. Its zero-signature technology delivers real-time detection, tracking, and behavioural insights without reliance on radar, lidar, or heavy sensors. SPARC AI's flagship platform, Overwatch, provides defence operators and commanders with unmatched situational awareness across the connected fleet. The Company is committed to building a scalable software platform that defines the future of defence drone intelligence globally.
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the failure to complete the Offering; reliance on key management and other personnel; potential downturns in economic conditions; competition from others; market factors, including future demand products developed by the Company; the policies and actions of foreign governments, which could impact the ability of the Company to successfully market its products; the Company’s expectations in connection with the development of the Target Acquisition System; the effectiveness of the Target Acquisition System; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration or laws, policies and practices; the impact of general business and economic conditions; currency exchange rates; and the impact of inflation.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Melbourne, Australia and Vancouver, Canada – TheNewswire - June 10, 2026 - Mithril Silver and Gold Limited ("Mithril” or the "Company") (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) is pleased to provide details of continued drilling progress at Mithril’s district scale Copalquin property, Durango State, Mexico.
Update Highlights
Mithril completes final six holes in the in the western expansion area of the El Refugio area, and final two holes in La Soledad southeast expansion area, in advance of the updated Mineral Resource Estimate planned for late June 2026
Three of six drill holes completed at El Refugio intercepted high grade silver and gold, including drill hole RE26-013 which intercepted 7.25 m grading 4.01 g/t Au and 225.1 g/t Ag, or 7.22 g/t AuEq, at distance of approximately 190 m from previously announced drill hole RE26-009 which intercepted 9.65 m grading 7.00 g/t Au and 370.3 g/t Ag, or 12.29 g/t AuEq0F1
Drilling in the La Soledad vein continues to intercept elevated gold values in drilling, as extension of the 2021 MRE footprint seen in hole LS26-007
2.85 m @ 2.41 g/t gold, and 107.8 g/t silver from 395.05 m (RE26-010), including
0.95 m @ 2.83 g/t gold, and 188.0 g/t silver from 396.95 m
1.20 m @ 6.64 g/t gold, and 6.4 g/t silver from 304.20 m (RE26-012), and
1.65 m @ 3.79 g/t gold, and 8.3 g/t silver from 316.75 m, including
0.75 m @ 5.55 g/t gold, and 11.9 g/t silver from 317.65,
7.25 m @ 4.01 g/t gold, and 225.1 g/t silver from 375.70 m (RE26-013), including
3.30 m @ 7.11 g/t gold, and 368.2 g/t silver from 376.80 m, including
0.50 m @ 15.25 g/t gold, and 533.0 g/t silver from 378.00 m, and including
3.25 m @ 5.23 g/t gold, and 30.5 g/t silver from 92.0 m (LS26-007), including
0.85 m @ 19.45 g/t gold, and 96.8 g/t silver from 94.4 m
The final drillholes of the 2026 Target 1 upgrade drilling program that were directed to further test the western mineralized limit of the El Refugio structure returned encouraging results including high grade silver and gold mineralization within wide intervals of quartz breccia and wider intervals of milled and/or phreatic breccia textures. Drill hole RE26-013, which intercepted 7.25 m of mineralized quartz breccia within a wider 12.6 m interval of quartz filled polymictic breccia, shows as evidence of a large, high energy mineralized system. The overall success of the upgrade drilling campaign is underscored by the increased footprint of the mineralization at El Refugio, and the increased confidence in the grade and geology model which remains open to depth.
“The continued success at the western expansion area of El Refugio has defined continuity of the structure with a plunge of mineralization directed to the northwest that remains open for further drill testing in the future,” stated James Barr, Mithril’s VP Exploration. “With our immediate objectives in the Target 1 resource area being substantially complete, our focus shifts to completing an update of the Target 1 mineral resource estimate with an emphasis on upgrading confidence in the geological and grade distribution, targeting substantial conversion from the Inferred resource classification. For the first time, detailed modelling of a post-mineral dyke system will be included. Previously, the model recognized this unit as part of the pre-mineral volcanic rock package which masked the continuity of the mineralized structure. The recent drilling has confirmed the continuation of the mineralization at similar grade and thickness across the dyke which has split and offset the mineralization.
Our look-ahead into H2 of 2026 includes expanding ground-based mapping activities to the District North Section, target development at locations not previously drill tested, and extensional drilling to follow-up previous drilling campaign successes in the Target 5 area.”
Copalquin District - 2026
Mithril is undertaking an aggressive exploration programme in 2026, with 11, 238 metres now complete of a up to 25,000 metres of drilling planned during the first 6 - 8 months of the year across the Copalquin District. Upcoming work is focussing on expanding known mineralised zones, testing new high-priority targets, integrating district-wide geophysical data, and continuing to advance the Company’s district-scale exploration thesis. The district features over 100 historic underground workings (c.1850 – 1910) including several multi-level mines and 200 small surface workings. Mapping and sampling across the lower half of the 70 km2 mining concession area demonstrates and a large epithermal silver-gold system with multiple target areas for potential resource growth plus the underlying conduit system responsible for the widespread gold and silver mineralisation.
The northern half of the Copalquin concession area features large areas of alteration. The LiDAR image shows evidence of historic mining activity and indicates some key structures. Along with historic sampling data, the northern section of the property presents as an additional, potentially significant and large exploration area within Mithril’s Copalquin mining concessions.
The nearby 20 km2 La Dura property has recently been added to the portfolio providing a brown field property with a database of mapping, sampling and drilling1F2. The recent LiDAR survey2F3 has revealed multiple historic workings within the concession area, including the 4-level high-grade La Dura mine. An initial 1.5 km long mineralisation corridor has been identified as a future drill target. An aerial magnetic survey has been complete with interpretation work currently progressing.
Figure 1: Mithril’s Copalquin and La Dura property locations in Durango State, Mexico
Click Image To View Full Size
Figure 2: LiDAR identified historic workings across the 70km2 district. Current drilling locations at Target 1, Target 3 and Target 5 with ongoing mapping and sampling plus recently completed aerial magnetic survey (report pending)
Click Image To View Full Size
Figure 3: Property-wide channel sampling results for the middle and south district sections within ~50% of the 70 km2 mining concession area covering the Copalquin District. An aerial magnetic survey and a desktop structural study have been completed over the area and are being interpreted to support drill planning for district defining targets such as the Copalquin Structure.
Target 1 Drilling Program Discussion
Initial drilling at the Target 1 Resource area started in July 2020, culminating in seventy-seven drill holes (totalling 17,706.20 m) being completed in the area that were used as the basis of the initial Mineral Resource Estimate. Since then, 127 additional drill holes (totalling 42,861.35 m) have been completed in the Target 1 resource area, for a total of 204 drill holes (totalling 60,567.55 m).
A priority objective of the drilling campaign has been to de-risk the mineral resource model by completing infill drilling within areas defined as Inferred Resources to increase local confidence in the geology and grade continuity. In early 2026 Mithril directed drilling activities to address some remaining gaps that were recognized between wide spaced drilling in the El Refugio vein system that were untested or that were classified as Inferred resources. Eight (8) holes (totalling 2,814.0 m) were completed to fill these gaps. These holes further developed understanding of the main El Refugio body, including the addition of two new veins. The system now comprises four veins on the footwall and hangingwall side of El Refugio main.
Along the western extension of El Refugio main, the vein system consolidates into one main structure. The final seven holes (totalling 2,868.0 m) of the 2026 campaign at El Refugio were drilled to test continuity of the mineralized system and successfully intersected mineralization beyond the post-mineral dyke system. Recent age dating confirms the approximate age of mineralization around 27 Ma, relative to the post mineral dyke system with an age of 22 Ma, based on K-Ar age dating methods. Mineralization within the structure remains open to depth.
Drilling at La Soledad since the 2021 Mineral Resource Estimate focused on drill testing mineralized extensions projected from the historical workings, which were surveyed with underground LiDAR in May 2025, in addition to the successful extension of the mineralized structure to the southeast. Drilling in 2026, which included seven (7) drill holes at La Soledad (totalling 2,316 m) continued testing the extension of the mineralization along the southeast trend. Together, the campaigns have culminated in identifying six subparallel mineralized structures located in the footwall to La Soledad main near the intersection with Refugio main vein.
Table 1: Recent significant results received for Target 1 resource upgrade drilling
Hole ID
From (m)
To (m)
Interval (m)
Au g/t
Ag g/t
AuEq g/t3F4
El Refugio
RE26-010*
395.05
397.90
2.85
2.41
107.8
3.94
including
396.95
397.90
0.95
2.83
188.0
5.52
RE26-012
304.20
305.40
1.20
6.64
6.4
6.73
RE26-012
316.75
318.40
1.65
3.79
8.3
3.91
including
317.65
318.40
0.75
5.55
11.9
5.72
RE26-013*
375.70
382.95
7.25
4.01
225.1
7.22
including
376.80
380.10
3.30
7.11
368.2
12.37
and*
378.00
378.50
0.50
15.25
533.0
22.86
La Soledad
LS26-006*
66.00
67.00
1.00
1.22
149.1
3.34
LS26-006
117.55
118.30
0.75
1.49
50.7
2.21
LS26-007
58.20
58.75
0.55
0.95
53.7
1.71
LS26-007
81.90
88.65
6.75
0.65
23.4
0.98
LS26-007
92.00
95.25
3.25
5.23
30.5
5.66
Including*
94.40
95.25
0.85
19.45
96.8
20.83
LS26-007
99.75
100.25
0.50
1.70
10.8
1.85
LS26-007
293.15
294.00
0.85
2.04
5.8
2.12
* Intercepts shown on attached maps and sections
Click Image To View Full Size
Figure 4: Target 1 plan map showing drill hole trace locations, highlight intercepts in this announcement and resource footprint area
Click Image To View Full Size
Figure 5: Long section view of the El Refugio vein looking perpendicular to the vein to the northwest
Click Image To View Full Size
Figure 6: Cross section +/- 50 metres for drilling on the western extension of the Target 1 resource area, centred on drill hole RE26-013; drill hole RE26-010 and CDH-094 are located approximately 50 metres east.
Click Image To View Full Size
Figure 7: Long section view of the El Refugio vein looking perpendicular to vein to the northeast
Table 2: Drill hole collar details included in this announcement
Hole ID
Easting
Northing
Elevation
Azimuth
Inclination
Depth (m)
(m)
(m)
(m)
(degrees)
(degrees)
RE26-010
288904
2823995
1186.00
190
-72
471
RE26-011
288649
2823971
1182.00
200
-70
402
RE26-012
288656
2823883
1177.00
220
-75
369
RE26-013
288865
2823957
1202.48
195
-74
453
RE26-014
288546
2823911
1133.8
182.5
-58.1
384
RE26-015
288644
2823972
1182
170
-69
417
LS26-006
289691
2824111
1121
150
-58
366
LS26-007
289691
2824111
1121
173
-58
381
Note: Some collar locations may be reported with approximate handheld GPS coordinates, while surveying with differential GPS is pending completion
Table 3: All drill results reported greater than or equal to 0.1 g/t AuEq
Hole ID
Sample ID
From
(m)
To
(m)
Interval (m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)*
RE26-010
210152
394.50
395.05
0.55
0.20
3.6
0.25
RE26-010
210153
395.05
395.70
0.65
3.38
14.6
3.59
RE26-010
210154
395.70
396.45
0.75
2.42
146.0
4.51
RE26-010
210155
396.45
396.95
0.50
0.31
19.0
0.58
RE26-010
210156
396.95
397.90
0.95
2.83
188.0
5.52
RE26-010
210184
415.45
416.00
0.55
0.03
5.1
0.10
RE26-010
210234
464.00
466.00
2.00
0.10
4.9
0.17
RE26-011
207553
347.70
348.55
0.85
0.08
2.5
0.11
RE26-011
207554
348.55
349.50
0.95
0.04
9.3
0.17
RE26-011
207556
350.00
350.65
0.65
0.08
4.4
0.14
RE26-011
207557
350.65
351.15
0.50
0.17
3.8
0.23
RE26-011
207566
390.90
391.95
1.05
0.25
2.8
0.29
RE26-011
207569
393.35
394.10
0.75
0.27
1.7
0.30
RE26-012
207610
300.40
301.65
1.25
0.08
2.0
0.11
RE26-012
207613
304.20
305.40
1.20
6.64
6.4
6.73
RE26-012
207623
316.75
317.65
0.90
2.33
5.3
2.41
RE26-012
207624
317.65
318.40
0.75
5.55
11.9
5.72
RE26-012
207626
318.40
318.90
0.50
0.25
7.7
0.36
RE26-012
207627
318.90
319.40
0.50
0.35
5.6
0.43
RE26-012
207628
319.40
320.15
0.75
0.11
3.9
0.16
RE26-012
207629
320.15
320.90
0.75
0.05
3.8
0.11
RE26-012
207634
322.60
323.10
0.50
0.22
2.7
0.26
RE26-012
207636
323.80
324.30
0.50
0.44
5.4
0.51
RE26-012
207637
324.30
324.90
0.60
0.08
4.9
0.15
RE26-012
207638
324.90
325.80
0.90
0.09
4.4
0.16
RE26-012
207639
325.80
326.30
0.50
0.32
12.2
0.50
RE26-012
207640
326.30
326.95
0.65
0.70
18.5
0.96
RE26-012
207642
327.45
327.95
0.50
0.16
2.4
0.19
RE26-012
207643
327.95
328.45
0.50
0.17
3.9
0.22
RE26-012
207644
328.45
329.40
0.95
0.75
11.6
0.91
RE26-013
210255
375.70
376.20
0.50
2.29
242.0
5.75
RE26-013
210256
376.20
376.80
0.60
2.93
99.2
4.35
RE26-013
210257
376.80
377.35
0.55
8.84
335.0
13.63
RE26-013
210258
377.35
378.00
0.65
2.00
110.0
3.57
RE26-013
210259
378.00
378.50
0.50
15.25
533.0
22.86
RE26-013
210261
378.50
379.05
0.55
9.08
461.0
15.67
RE26-013
210262
379.05
379.60
0.55
6.01
348.0
10.98
RE26-013
210263
379.60
380.10
0.50
2.73
496.0
9.82
RE26-013
210264
380.10
380.60
0.50
1.64
111.0
3.22
RE26-013
210265
380.60
381.20
0.60
0.41
71.5
1.43
RE26-013
210266
381.20
381.80
0.60
0.12
11.4
0.28
RE26-013
210267
381.80
382.40
0.60
0.87
111.0
2.46
RE26-013
210268
382.40
382.95
0.55
1.86
117.0
3.53
RE26-013
210274
386.90
387.60
0.70
0.03
4.9
0.10
RE26-013
210276
387.60
388.30
0.70
0.05
8.0
0.17
RE26-013
210285
425.30
425.90
0.60
0.02
5.1
0.10
RE26-014
207687
358.80
359.35
0.55
0.02
7.9
0.13
RE26-014
207688
359.35
360.00
0.65
0.03
8.2
0.15
RE26-014
207689
360.00
362.00
2.00
0.01
6.7
0.11
RE26-015
207711
324.00
325.25
1.25
0.08
10.7
0.23
LS26-006
210322
66.00
66.50
0.50
0.95
95.1
2.31
LS26-006
210323
66.50
67.00
0.50
1.48
203.0
4.38
LS26-006
210326
67.50
68.00
0.50
0.06
4.8
0.13
LS26-006
210334
105.50
106.00
0.50
0.08
6.3
0.17
LS26-006
210335
106.00
106.50
0.50
0.14
3.3
0.18
LS26-006
210337
107.10
107.75
0.65
0.06
7.0
0.16
LS26-006
210344
112.30
113.35
1.05
0.10
17.4
0.35
LS26-006
210349
115.60
116.25
0.65
0.24
12.6
0.42
LS26-006
210351
116.25
117.55
1.30
0.06
6.4
0.15
LS26-006
210352
117.55
118.30
0.75
1.49
50.7
2.21
LS26-006
210363
127.45
128.45
1.00
0.04
4.2
0.10
LS26-006
210367
134.40
135.40
1.00
0.05
5.9
0.14
LS26-006
210387
159.80
160.30
0.50
0.08
1.3
0.10
LS26-006
210388
160.30
160.80
0.50
0.18
3.5
0.23
LS26-006
210389
160.80
161.30
0.50
0.10
0.5
0.10
LS26-006
210390
161.30
161.80
0.50
0.09
2.6
0.13
LS26-006
210394
165.35
166.35
1.00
0.18
5.0
0.25
LS26-006
210401
172.35
173.85
1.50
0.09
5.7
0.17
LS26-006
210409
207.40
207.90
0.50
0.11
0.5
0.12
LS26-006
210419
259.35
260.00
0.65
0.12
0.5
0.13
LS26-006
210432
272.60
273.60
1.00
0.32
22.8
0.64
LS26-007
210478
54.60
55.40
0.80
0.75
1.1
0.77
LS26-007
210479
55.40
56.20
0.80
0.30
2.2
0.33
LS26-007
210483
58.20
58.75
0.55
0.95
53.7
1.71
LS26-007
210484
58.75
59.75
1.00
0.05
3.1
0.10
LS26-007
210501
81.90
83.00
1.10
0.68
21.5
0.99
LS26-007
210502
83.00
84.00
1.00
0.87
28.3
1.28
LS26-007
210503
84.00
85.10
1.10
1.30
36.0
1.81
LS26-007
210504
85.10
85.75
0.65
0.32
14.1
0.52
LS26-007
210505
85.75
86.35
0.60
0.56
43.7
1.18
LS26-007
210506
86.35
87.00
0.65
0.28
23.9
0.62
LS26-007
210508
88.00
88.65
0.65
0.85
19.1
1.12
LS26-007
210509
88.65
89.45
0.80
0.15
6.5
0.24
LS26-007
210512
92.00
93.00
1.00
0.21
12.0
0.38
LS26-007
210513
93.00
93.75
0.75
0.28
2.9
0.32
LS26-007
210514
93.75
94.40
0.65
0.05
4.1
0.11
LS26-007
210515
94.40
95.25
0.85
19.45
96.8
20.83
LS26-007
210518
98.00
99.00
1.00
0.15
1.5
0.17
LS26-007
210521
99.75
100.25
0.50
1.70
10.8
1.85
LS26-007
210528
110.00
111.00
1.00
0.06
3.4
0.11
LS26-007
210531
112.00
113.00
1.00
0.18
8.0
0.29
LS26-007
210536
118.00
120.00
2.00
0.28
0.5
0.29
LS26-007
210548
135.00
135.50
0.50
0.84
6.1
0.93
LS26-007
210549
135.50
136.10
0.60
0.05
4.0
0.11
LS26-007
210551
136.10
136.80
0.70
0.07
1.8
0.10
LS26-007
210556
140.40
141.05
0.65
0.09
6.5
0.18
LS26-007
210567
150.40
151.15
0.75
0.11
3.0
0.15
LS26-007
210599
221.90
222.55
0.65
0.12
2.0
0.15
LS26-007
210644
290.75
291.25
0.50
0.05
4.0
0.11
LS26-007
210647
293.15
294.00
0.85
2.04
5.8
2.12
LS26-007
210660
302.75
303.25
0.50
0.09
4.7
0.16
LS26-007
210662
304.70
305.55
0.85
0.11
1.8
0.13
*See gold equivalent (AuEq) formula in the ABOUT THE COPALQUIN SILVER GOLD PROJECT section
LA DURA PROJECT UPDATE
In December 2025, Mithril secured an exclusive option to acquire 100% of the 2,052-hectare La Dura gold-silver property in Durango, Mexico, approximately 20 km from the Copalquin Project.
The property hosts several historic workings, including the past-producing La Dura Mine. Initial work has included LiDAR and aerial magnetic surveys to advance targeting.
Accordingly, along with the initial payment of US$25K, 50,000 ordinary Mithril shares at A$0.51 per share will be issued to the vendor as part of the initial acquisition consideration and are subject to a four-month hold period.
ABOUT THE COPALQUIN SILVER GOLD PROJECT
The Copalquin mining district is located in Durango State, Mexico and covers an entire mining district of 70km2 containing several dozen historic silver and gold mines and workings, ten of which had notable production. The district is within the Sierra Madre Gold Silver Trend which extends north-south along the western side of Mexico and hosts many gold and silver districts.
Multiple mineralisation events, young intrusives thought to be system-driving heat sources, widespread alteration together with extensive surface vein exposures and dozens of historic mine workings, identify the Copalquin mining district as a major epithermal centre for Gold and Silver.
Within 15 months of drilling in the Copalquin District, Mithril delivered a maiden JORC mineral resource estimate at the first of several target areas (Target 1), demonstrating the high-grade gold and silver resource potential for the district. This maiden resource is detailed below (see ASX release 17 November 2021)^ and a NI 43-101 Technical Report filed on SEDAR+
Target 1 Maiden Resource:
Indicated 691 kt @5.43 g/t gold, 114 g/t silver for 121,000 oz gold plus 2,538,000 oz silver
Inferred 1,725 kt @4.55 g/t gold, 152 g/t silver for 252,000 oz gold plus 8,414,000 oz silver
(using a cut-off grade of 2.0 g/t AuEq*)
28.6% of the resource tonnage is classified as indicated
Table 4 Mineral resource estimate at Target 1 El Refugio – La Soledad using a cut-off grade of 2.0 g/t AuEq*
Tonnes
(kt)
Tonnes
(kt)
Gold
(g/t)
Silver
(g/t)
Gold Eq.* (g/t)
Gold
(koz)
Silver
(koz)
Gold Eq.* (koz)
El Refugio
Indicated
691
5.43
114.2
7.06
121
2,538
157
Inferred
1,447
4.63
137.1
6.59
215
6,377
307
La Soledad
Indicated
-
-
-
-
-
-
-
Inferred
278
4.12
228.2
7.38
37
2,037
66
Total
Indicated
691
5.43
114.2
7.06
121
2,538
157
Inferred
1,725
4.55
151.7
6.72
252
8,414
372
* In determining the gold equivalent (AuEq.) grade for reporting, a gold:silver price ratio of 70:1 was determined, using the formula: AuEq grade = Au grade + ((Ag grade/70) x (Ag recovery/Au recovery)). The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 (actual is 71:1) from kitco.com.
For silver equivalent (AgEq.) grade reporting, the same factors as above are used with the formula AgEq grade = Ag grade + ((Au grade x 70) x (Au recovery/Ag recovery))
At this early stage, the metallurgical recoveries were assumed to be equal (93%). Subsequent preliminary metallurgical test work produced recoveries of 91% for silver and 96% for gold (ASX Announcement 25 February 2022) and these will be used when the resource is updated in the future. In the Company’s opinion there is reasonable potential for both gold and silver to be extracted and sold.
^ The information in this report that relates to Mineral Resources or Ore Reserves is based on information provided in the following ASX announcement: 17 Nov 2021 - MAIDEN JORC RESOURCE 529,000 OUNCES @ 6.81G/T (AuEq*), which includes the full JORC MRE report, also available on the Mithril Resources Limited Website.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Mining study (conceptual) and metallurgical test work supports the development of the El Refugio-La Soledad resource with conventional underground mining methods indicated as being appropriate and with high silver-gold recovery to produce metal on-site with conventional processing. The average vein width is approximately 4.5 metres.
Mithril is currently exploring in the Copalquin District to expand the resource footprint, demonstrating its multi-million-ounce gold and silver potential. Mithril has an exclusive option to purchase 100% interest in the Copalquin mining concessions by paying US$10M on or any time before 7 August 2028.
-ENDS-
Released with the authority of the Board.
For further information contact:
The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Competent Persons Statement - JORC
The information in this announcement that relates to metallurgical test results, mineral processing and project development and study work has been compiled by Mr John Skeet who is Mithril’s CEO and Managing Director. Mr Skeet is a Fellow of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Skeet has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Skeet consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
The information in this announcement that relates to sampling techniques and data, exploration results and geological interpretation for Mithril’s Mexican project, has been compiled by Mr James Barr who is Mithril’s Vice President - Exploration. Mr Barr is a member of the Engineers and Geoscientists of British Columbia and a Certified Professional Geologist (P.Geo). This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code.
Mr Barr has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Barr consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources is reported by Mr Rodney Webster, former Principal Geologist at AMC Consultants Pty Ltd (AMC), who is a Member of the Australian Institute of Geoscientists. The report was peer reviewed by Andrew Proudman, Principal Consultant at AMC. Mr Webster is acting as the Competent Person, as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, for the reporting of the Mineral Resource estimate. A site visit was carried out by Jose Olmedo a geological consultant with AMC, in September 2021 to observe the drilling, logging, sampling and assay database. Mr Webster consents to the inclusion in this report of the matters based on information in the form and context in which it appears
Qualified Persons – NI 43-101
Scientific and technical information in this Report has been reviewed and approved by Mr John Skeet (FAUSIMM, CP) Mithril’s Managing Director and Chief Executive Officer. Mr John Skeet is a qualified person within the meaning of NI 43-101.
Samples are sent to ALS Global with sample preparation performed in Chihuahua City, Mexico and assaying of sample pulps performed in North Vancouver, BC, Canada.
JORC Code, 2012 Edition – Table 1
Section 1 Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Report.
In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drill core samples are cut lengthwise with a diamond saw. Intervals are nominally 1 m but may vary between 0.5 m to 1.5 m based on geologic criteria.
The same side of the core is always sent to sample (left side of saw).
Reported intercepts are calculated as either potentially underground mineable (100m down hole) or as potentially open-pit mineable (near surface).
Potentially underground mineable intercepts are calculated as length weighted averages of material greater than or equal to 1 g/t AuEQ_70 allowing up to 2m of internal dilution.
Potentially open-pit mineable intercepts are calculated as length weighted averages of material greater than or equal to 0.25 g/t AuEQ_70 allowing for up to 2m of internal dilution.
Rock Sawn Channel samples underground and surface are collected with the assistance of a handheld portable saw. The channels are 2.5 to 3cm deep and 6-8 cm wide along continuous lines oriented perpendicular to the mineralized structure. The samples are as representative as possible
Rock Sawn Channel surface samples were surveyed with a Handheld GPS then permanently mark with an aluminium tag and red colour spray across the strike of the outcrop over 1 metre. Samples are as representative as possible
Rock Sawn Channel underground samples were located after a compass and tape with the mine working having a surveyed control point at the portal, then permanently marked with an aluminium tag and red colour spray oriented perpendicular to the mineralized structure. Samples are as representative as possible
Soil sampling has been carried out by locating pre-planned points by handheld GPS and digging to below the first colour-change in the soil (or a maximum of 50 cm). In the arid environment there is a 1 – 10 cm organic horizon and a 10 – 30 cm B horizon above the regolith. Samples are sieved to -80 mesh in the field. Samples are collected on a 20 m x 50 m grid or every 20 m on N–S lines 50 m apart. These samples are considered representative of the medium being sampled and lines are appropriately oriented to the nearly E–W structural trend.
Drilling techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Drilling is done with MP500 man-portable core rigs capable of drilling HQ size core to depths of 350-400m (depending on ground conditions), reducing to NQ size core for greater depths. Core is recovered in a standard tube.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Drill recovery is measured based on measured length of core divided by length of drill run.
Recovery in holes CDH-001 through CDH-025 and holes CDH-032 through CDH-077 was always above 90% in the mineralized zones. Detailed core recovery data are maintained in the project database.
Holes CDH-026 through CDH-031 had problems with core recovery in highly fractured, clay rich breccia zones.
There is no adverse relationship between recovery and grade identified to date.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the relevant intersections logged.
Geotechnical and geological logging of the drill core takes place on racks in the company core shed.
Core samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Core logging is both qualitative or quantitative in nature. Photos are taken of each box of core before samples are cut. Photos of cut core intervals are taken after sampling. Core is wetted to improve visibility of features in the photos.
All core has been logged and photographed.
Rock sawn channel samples are marked, measured and photographed at location
Soil samples are recorded at location, logged and described
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise representativity of samples.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
Core is sawn and half core is taken for sample.
Samples are prepared using ALS Minerals Prep-31 crushing, splitting and pulverizing. This is appropriate for the type of deposit being explored.
Visual review to assure that the cut core is ½ of the core is performed to assure representativity of samples.
Crushed core duplicates are split/collected by the laboratory and submitted for assay (1 in 30 samples)
Sample sizes are appropriate to the grain size of the material being sampled.
Rock sawn channel samples and soil samples are prepared using ALS Minerals Prep-31 crushing, splitting and pulverizing. This is appropriate for the type of deposit being explored.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
Samples are assayed for gold using ALS Minerals Au-AA25 method a 30 g fire assay with an AA finish. This is considered a total assay technique.
Samples are assayed for silver using ALS Minerals ME-ICP61 method. Over limits are assayed by silverOG63 and silverGRAV21. These are considered a total assay technique.
Standards and blanks are inserted at a rate of one per every 25 samples and one per every 40 samples, respectively. Pulp duplicate sampling is undertaken for 3% of all samples (see above). External laboratory checks will be conducted as sufficient samples are collected. Levels of accuracy (i.e. lack of bias) and precision have not yet been established.
Certified Reference Materials – Rock Labs and CDN CRMs have been used throughout the project including, low (~2 g/t Au), medium (~9 g/t Au) and high (~18g/t Au and ~40 g/t Au). Results are automatically checked on data import into the BEDROCK database to fall within 2 standard deviations of the expected value.
Samples with significant amounts of observed visible gold are also assayed by AuSCR21, a screen assay that analyses gold in both the milled pulp and in the residual oversize from pulverization. This has been done for holes CDH-075 and CDH-077.
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
The verification of significant intersections by either independent or alternative company personnel has not been conducted. A re-assay programme of pulp duplicates is currently in progress.
MTH has drilled one twin hole. Hole CDH-072, reported in the 15/6/2021 announcement, is a twin of holes EC-002 and UC-03. Results are comparable.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols are maintained in the company’s core facility.
Assay data have not been adjusted other than applying length weighted averages to reported intercepts.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
Drill collar coordinates are currently located by handheld GPS. Precise survey of hole locations is planned. Downhole surveys of hole deviation are recorded using a Reflex Multishot tool for all holes. A survey measurement is first collected at 15 meters downhole, and then every 50 meters until the end of the hole. Locations for holes have been surveyed with differential GPS to a sub 10 cm precision.
UTM/UPS WGS 84 zone 13 N
High quality topographic control from LiDAR imagery and orthophotos covers the entire project area.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Data spacing is appropriate for the reporting of Exploration Results.
The Resource estimation re-printed in this announcement was originally released on 17 Nov 2021
No sample compositing has been applied.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Cut lines are marked on the core by the geologists to assure that the orientation of sampling achieves unbiased sampling of possible structures. This is reasonably well observed in the core and is appropriate to the deposit type.
The relationship between the drilling orientation and the orientation of key mineralised structures is not considered to have introduced a sampling bias.
Rock sawn channel samples are cut perpendicular to the observed vein orientation wherever possible
Sample security
The measures taken to ensure sample security.
Samples are stored in a secure core storage facility until they are shipped off site by small aircraft and delivered directly to ALS Global sample preparation facility in Chihuahua, Mexico. ALS airfreights the sample pulps to their assaying facility in North Vancouver, BC, Canada
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
A review with spot checks was conducted by AMC in conjunction with the resource estimate published 17 Nov 2021. Results were satisfactory to AMC.
Section 2 Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
Concessions at Copalquin
No.
Concession
Concession Title number
Area (Ha)
Location
1
LA SOLEDAD
52033
6
Tamazula, Durango, Mexico
2
EL COMETA
164869
36
Tamazula, Durango, Mexico
3
SAN MANUEL
165451
36
Tamazula, Durango, Mexico
4
COPALQUIN
178014
20
Tamazula, Durango, Mexico
5
EL SOL
236130
6,000
Tamazula, Durango and Badiraguato, Sinaloa, México
6
EL CORRAL
236131
907.3243
Tamazula, Durango and Badiraguato, Sinaloa, México
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
Previous exploration by Bell Coast Capital Corp. and UC Resources was done in the late 1990’s and in 2005 – 2007. Work done by these companies is historic and non-JORC compliant. Mithril uses these historic data only as a general guide and will not incorporate work done by these companies in resource modelling.
Work done by the Mexican government and by IMMSA and will be used for modelling of historic mine workings which are now inaccessible (void model)
Geology
Deposit type, geological setting and style of mineralisation.
Copalquin is a low sulfidation epithermal silver-gold deposit hosted in andesite. This deposit type is common in the Sierra Madre Occidental of Mexico and is characterized by quartz veins and stockworks surrounded by haloes of argillic (illite/smectite) alteration. Veins have formed as both low-angle semi-continuous lenses parallel to the contact between granodiorite and andesite and as tabular veins in high-angle normal faults. Vein and breccia thickness has been observed up to 30 meters wide with average widths on the order of 3 to 5 meters. The overall strike length of the semi-continuous mineralized zone from El Gallo to Refugio, Cometa, Los Pinos, Los Reyes, La Montura to Constancia and Santa Cruz is almost 7 kilometres. The southern area from south west of Apomal to San Manuel and to Las Brujas-El Peru provides additional exploration potential up to 6km.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
easting and northing of the drill hole collar
• elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
See Table 2 and Figures 4 and 5 in the Announcement
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
Potentially underground mineable intercepts are calculated as length weighted averages of material greater than or equal to 1 g/t AuEQ_70 allowing up to 2m of internal dilution.
Potentially open-pit mineable intercepts are calculated as length weighted averages of material greater than or equal to 0.25c g/t AuEQ_70 allowing for up to 2m of internal dilution.
No upper cut-off is applied to reporting intercepts.
Length weighted averaging is used to report intercepts. The example of CDH-002 is shown. The line of zero assays is a standard which was removed from reporting.
Au
Raw
silver
raw
Length
(m)
Au
*length
silver
*length
7.51
678
0.5
3.755
339
11.85
425
0.55
6.5175
233.75
0 0 0 0 0 0.306
16
1
0.306
16
0.364
31.7
1
0.364
31.7
3.15
241
0.5
1.575
120.5
10.7
709
0.5
5.35
354.5
15.6
773
0.5
7.8
386.5
From
To
Length
Au g/t
silver g/t
4.55
25.667
1481.9
91.95
96.5
4.55
5.64
325.7
In determining the gold equivalent (AuEq.) grade for reporting, a gold:silver price ratio of 70:1 was determined, using the formula: AuEq grade = Au grade + ((silver grade/70) x (silver recovery/Au recovery)). The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 (actual is 71:1) from kitco.com At this early stage, the metallurgical recoveries are assumed to be equal (93%), Subsequent preliminary metallurgical test work produced recoveries of 91% for silver and 96% for gold (ASX Announcement 25 February 2022).
For Rock Saw Channel Sampling and soil sampling in the Copalquin District, silver equivalent (AgEq) is determined using the formula: AgEq grade = silver grade + ((Au grade x 70) x (Au recovery/silver recovery)). The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 (actual is 71:1) fromkitco.com At this early stage, the metallurgical recoveries for Au and silver are assumed to be equal (93%) in the absence of metallurgical test work for Targets 2, 3, 4 and 5 material. In the Company’s opinion there is reasonable potential for both gold and silver to be extracted and sold.
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).
True widths at Refugio between sections 120 and 1,000 vary according to the hole’s dip. Holes drilled at -50 degrees may be considered to have intercept lengths equal to true-widths, Holes drilled at -70 degrees had true widths approximately 92% of the reported intercept lengths and holes drilled at -90 degrees had true widths of 77% of the reported intercept lengths.
True widths at La Soledad are not fully understood and downhole intercepts to date, are reported.
At Las Brujas in Target 2, true widths are not yet known since we are still in the early stages of target definition.
Rock sawn channel samples are cut perpendicular to the observed vein orientation wherever possible
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
See figures in announcement
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
All exploration results are reported for intercepts greater than or equal to 0.1 g/t gold equivalent (gold plus silver at 70:1 price ratio for gold:silver).
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
No additional exploration data are substantive at this time.
Metallurgical test work on drill core composite made of crushed drill core from the El Refugio drill hole samples has been conducted.
The samples used for the test work are representative of the material that makes up the majority of the Maiden Resource Estimate for El Refugio release on 17th November 2021.
The test work was conducted by SGS laboratory Mexico using standard reagents and test equipment.
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
The Company drilled 148 diamond core holes from July 2020 to July 2022 for 32,712 m. The Company has stated its target to drill up to 45,000m from July 2025 until the second half of 2026.
Diagrams are included in the announcements and presentations showing the drill target areas within the Copalquin District
1 See Announcement dated 12 May 2026, MTH Drills 7.00 G/T Gold, 370 G/T Silver Over 9.65 M at T1
2 See Announcement 5 December 2025, MITHRIL TO ACQUIRE THE LA DURA GOLD-SILVER PROPERTY
3 See Announcement 25 February 2026, MITHRIL LIDAR STUDY REVEALS 1.5 KM TREND & HISTORIC MINES
4 See gold equivalent (AuEq) formula in the ABOUT THE COPALQUIN SILVER GOLD PROJECT section
NEW YORK CITY, NY / ACCESS Newswire / June 10, 2026 / Emerging Growth Research today announced the initiation of coverage on Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI), a physical AI ecosystem company focused on embodied AI robotics and intelligent mobility solutions. Emerging Growth Research is initiating coverage with a Buy-Emerging rating and a 12-month price target of $2.00 per share, representing substantial potential upside from the Company's recent share price of $0.31 at the close on June 9, 2026.
Key Highlights from the Initiation Report
Positioned to Participate in a Multi-Trillion-Dollar Robotics Opportunity
According to research cited in the report, the U.S. humanoid robotics market alone could ultimately represent a $3 trillion total addressable market. Faraday Future has established an embodied AI ecosystem focused on humanoid, quadruped, and automotive-focused robots designed to serve both consumer and commercial applications.
Growing Commercial Traction Evidenced by Rising Deposits and Robot Shipments
Faraday Future reported customer deposits of $13.8 million at the end of the first quarter of 2026, representing a 31% sequential increase from year-end 2025 levels. The Company also recently announced the shipment of 69 embodied AI robots during May 2026 and increased its FY2026 robot delivery target from 1,000 units to 1,500 units.
Diverse Product Portfolio Already Commercially Available
The Company currently offers three embodied AI robot platforms, including the Aegis quadruped robot, the Master humanoid companion robot, and the Futurist professional humanoid robot. These products target applications ranging from security and surveillance to education, hospitality, healthcare, research, and personal assistance.
Proprietary AI Ecosystem Creates Multiple Revenue Opportunities
Emerging Growth Research believes Faraday Future's integrated ecosystem strategy provides potential revenue streams beyond hardware sales. The Company's platform includes its EAI Brain, open-source developer platform, and Data Factory business, which is designed to generate recurring revenue through software licensing, data services, and AI-powered applications.
Significant Capital Raise Strengthens Financial Position
Although Faraday Future remains EBITDA and cash flow negative, the Company has successfully secured approximately $70 million in capital commitments during 2026. Emerging Growth Research believes this funding should support operations through the balance of FY2026 and into the first half of FY2027 while management executes its growth strategy.
Rapid Revenue Growth Forecast
Emerging Growth Research projects FY2026 revenue of approximately $12.5 million, representing growth of more than 2,200% compared to FY2025 revenue. Revenue is projected to increase further to approximately $64.2 million in FY2027 as robot deployments scale and commercialization efforts expand.
Valuation Supports $2.00 Price Target
The $2.00 price target is derived from a blended valuation methodology utilizing both a total addressable market (TAM) analysis and a discounted cash flow (DCF) model.
For a copy of the full Initiation Report, please visit:
https://emerginggrowth.com/profile/ffai/ (on the right side of the page as you scroll down)
About Faraday Future Intelligent Electric Inc.
Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) is a physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovations and technology.
About Emerging Growth Research
Emerging Growth Research is an independent equity research firm focused on providing institutional-quality analysis on emerging and growth-stage companies. The firm delivers research designed to enhance transparency, improve investor understanding, and broaden market awareness.
Contact:
Emerging Growth Research [email protected]
www.EmergingGrowth.com
Forward-Looking Statements
This press release contains forward-looking statements concerning business operations, product commercialization, robot deliveries, revenue projections, market opportunities, financing activities, and future growth prospects.
NEW YORK CITY, NY / ACCESS Newswire / June 10, 2026 / Emerging Growth Research today announced the release of its Initiation Report on Virtuix Holdings Inc. (NASDAQ:VTIX), assigning a Buy-Emerging rating and a 12-month price target of $9.00 per share, representing approximately 165% upside from the Company's recent share price of $3.40 as of June 9, 2026.
The initiation report covers Virtuix's market-leading, patent-protected, AI-driven virtual reality platform and its dual-use growth strategy spanning the consumer and defense markets. Emerging Growth Research believes current share prices reflect an unwarranted overreaction to strategy-unrelated selling pressure, creating a compelling entry point for long-term investors ahead of an expected hockey stick revenue inflection in calendar 2027 and beyond.
Key Highlights from the Initiation Report
Market-Leading, Patent-Protected Consumer VR Platform
Virtuix's Omni One omni-directional treadmill is the premier full-body VR movement system for consumers, enabling users to walk and run 360 degrees inside virtual reality games and fitness applications. With 25 granted patents (and 5 pending), 3,000 units/month production capacity equivalent to $100 million in annual revenue, and a new distribution partnership with Meta's six million Quest headset user base, Virtuix is ready to scale into rapidly growing VR, gaming, and fitness markets.
Emerging Defense Opportunity Adds Significant Upside
Virtuix's Virtual Terrain Walk (VTW) platform enables military personnel to physically walk through geo-specific virtual terrain for immersive mission planning and rehearsal. The Company has secured initial contracts and funding from the U.S. Air Force (SBIR Phase 1), U.S. Marine Corps, and U.S. Navy, with additional sales to West Point, the U.S. Air Force Academy, and Yokota Air Force Base. Defense gross margins are estimated at 60-70%. Management is also actively pursuing defense M&A targeting cash flow positive companies with $10-$50 million in revenue.
Revenue Growth Expected to Display Hockey Stick Profile in CY 2027+
Emerging Growth Research estimates approximately 20% revenue growth in fiscal 2027, followed by approximately 300% growth in fiscal 2028 as consumer and defense markets accelerate. Trailing nine-month revenue through December 2025 increased 41% year-over-year, with consumer December 2025 sales up 60% versus December 2024. Near-term reported growth is expected to remain muted through calendar H1 2026 due to prior-year order backlog comparisons, before resuming a strong upward trajectory.
Share Price Decline Reflects Unmerited Selling, Not Business Fundamentals
Since its January 2026 IPO at $8.75, VTIX shares have experienced significant selling pressure following a small, predetermined 10b5-1 share sale by the Company's CEO - representing approximately 10% of his holdings - that was established long before the IPO and could not be altered or cancelled. Emerging Growth Research views the resulting share price decline as an overreaction, and notes that shares have begun to recover, rising approximately 25% off May 2026 lows. With $9.5 million in cash on the balance sheet as of March 31, 2026, the Company is funded through calendar year 2026 without requiring additional external financing.
or
https://emerginggrowth.com/profile/vtix/ (on the right side of the page as you scroll down)
About Virtuix Holdings Inc.
Virtuix Holdings Inc. (NASDAQ:VTIX) is the creator of the Omni, the premier brand of omni-directional treadmills that enable users to physically walk and run 360 degrees inside virtual reality games, fitness applications, and defense training environments. Founded in 2013 and headquartered in the United States, Virtuix commenced trading on the Nasdaq in early 2026. The Company operates a vertically integrated business spanning product design, game development, manufacturing, and distribution, and holds 25 granted patents with 5 additional patents pending.
About Emerging Growth Research
Emerging Growth Research is an independent equity research firm focused on providing institutional-quality analysis on emerging and growth-stage companies. The firm delivers research designed to enhance transparency, improve investor understanding, and broaden market awareness.
This press release contains forward-looking statements concerning business operations, development plans, revenue projections, defense contracting activity, merger and acquisition prospects, and valuation estimates. These statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. Important risk factors include, but are not limited to, consumer adoption rates, defense contract timing and procurement delays, geopolitical and tariff exposure, share dilution from warrants and convertible debt, the expiry of IPO lock-up provisions on July 27, 2026, and the Company's ability to execute on its growth strategy in both consumer and defense markets.
A person walks by a Target store in Manhattan, New York City, U.S., November 22, 2021. REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 10 (Reuters) - (This June 10 story has been refiled to clarify that Target's $2 billion investment was additional to a previous $4 billion investment, in paragraph 11)
Target (TGT.N), opens new tab shareholders on Wednesday rejected an investor proposal to separate the roles of board chair and executive leadership, according to two sources with direct knowledge of the vote.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
The result allows former CEO Brian Cornell to remain as executive chair despite mounting pressure from investors for a more independent voice.
A shareholder proposal calling for publishing reports on pesticides in private-label products and efforts to reduce microfiber emissions from its products also failed to pass at Target's annual general meeting, the people said.
While preliminary voting numbers were not revealed yet, all director nominees were elected, they added.
Target declined to comment.
Target has struggled to keep pace with rivals such as Walmart and Costco (COST.O), opens new tab as inflation-weary consumers gravitate toward lower prices, weighing on the company's sales and margins.
The retailer has lost roughly half of its market value since 2021, raising concerns about strategy and execution.
Recent results showed signs of recovery, but Target has cautioned that a tough macroeconomic environment could continue to pressure demand.
Concerns over governance intensified after Target transitioned long-time CEO Brian Cornell to executive chairman, a position that has operational oversight over successor Michael Fiddelke, who took the helm in February.
Under Cornell, Target struggled with merchandising missteps, and decisions such as backing away from diversity, equity and inclusion initiatives (DEI), which hurt sales and customer loyalty.
Fiddelke said in March that Target will invest an additional $2 billion this year - on top of a previously-announced $4 billion - to ensure well-stocked merchandise and to sharpen prices to better compete with aggressive discounting by Walmart, Amazon and off-price chains.
Reporting by Sanskriti Shekhar in Bengaluru; Editing by Arun Koyyur and Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Nicholas P. Brown covers retail and consumer issues for Reuters. He was formerly the news agency’s San Juan bureau chief, leading coverage of Puerto Rico’s economic and humanitarian crises, as well as its award-winning on-the-ground coverage of Hurricane Maria. Most recently, Nick was part of the team that reported Slavery’s Descendants, a seven-part series on the economic legacy of American slavery. The series won an Online News Association award; a National Association of Black Journalists award; a pair of National Headliner awards; and was a finalist in three Deadline Club awards. Since joining Reuters in 2011, Nick has written about everything from bankruptcy law to the rise of white nationalism, deploying to the occasional natural disaster (including Hurricanes Harvey in Texas and Dorian in the Bahamas). He also covered Super Bowl LIV in Miami, and enjoyed it immensely. Contact:
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- The board of directors of Target Corporation (NYSE:TGT) has declared a quarterly dividend of $1.16 per common share, a 1.8% increase from the prior quarterly dividend of $1.14. The dividend is payable September 1, 2026 to shareholders of record at the close of business August 12, 2026. The 3rd quarter dividend will be the company's 236th consecutive dividend paid since October 1967 when the company became publicly held. With the increase announced today, 2026 is on track to be the 55th consecutive year in which Target has increased its annual dividend.
About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.
Data demonstrate favorable safety and tolerability profile, robust B-cell depletion, and encouraging platelet responses in heavily pretreated patients with primary immune thrombocytopenia
Enrollment ongoing in the high dose cohort, with additional data anticipated by year-end 2026
WELLESLEY HILLS, Mass., June 11, 2026 (GLOBE NEWSWIRE) -- Climb Bio, Inc. (Nasdaq: CLYM), a clinical stage biotechnology company developing therapeutics for patients with immune-mediated diseases, today announced initial data from the ongoing Phase 1b portion of its Phase 1b/2a study evaluating budoprutug, an anti-CD19 monoclonal antibody, in adults with primary immune thrombocytopenia (ITP) demonstrating an encouraging safety and tolerability profile, robust B-cell depletion, and meaningful platelet responses in heavily pretreated patients. The initial data are being presented at the European Hematology Association (EHA) Congress 2026, which is being held on June 11-14, 2026, in Stockholm, Sweden.
The ongoing Phase 1b/2a study is evaluating budoprutug in patients with primary ITP to inform dose and regimen selection and assess safety and the depth and duration of platelet response and B-cell depletion. Initial safety and efficacy data are available from the 250 mg cohort, and initial safety data are available from the 500 mg cohort. Enrollment in the 1000 mg cohort is ongoing.
“Patients with chronic ITP often cycle through multiple therapies without achieving a sustained response,” said Edgar D. Charles, M.D., Chief Medical Officer of Climb Bio. “These initial data suggest that targeting CD19 with budoprutug may offer a differentiated approach in ITP, enabling robust B-cell depletion, durable platelet responses, and an acceptable safety and tolerability profile. Importantly, we observed platelet responses in several patients who had been previously treated with rituximab, highlighting the potential to address a high unmet need population where available treatment options remain limited. Taken together, these data demonstrate biological activity of budoprutug in ITP, and importantly, provide proof-of-concept in a non-renal autoimmune indication. We look forward to sharing additional data from this study later in the year.”
Study Design and Data Highlights
The Phase 1b portion of the Phase 1b/2a study (NCT07043946) is evaluating three ascending doses (250 mg, 500 mg and 1000 mg) of intravenous budoprutug, administered in two doses 14 days apart, in adults with primary ITP who have received at least one prior therapyAs of June 1, 2026, 15 patients had been enrolled across the 250 mg (n=6) and 500 mg (n=9) dose cohorts, median follow-up was 38 weeks and 12 weeks for the 250 mg and 500 mg cohorts respectively.Patients enrolled were heavily pretreated, with a median of 6 to 7.5 prior lines of therapy and disease duration ranging from 0.5 to 40 yearsBudoprutug was generally well tolerated at both the 250 mg and 500 mg dose levels, with no serious adverse events, no treatment discontinuations due to adverse events, and no infusion related reactions; all adverse events were Grade 1 to Grade 2In the 250 mg dose cohort, B-cell levels were depleted by an average of over 90% by Week 4 and mean platelet count increased by 111,000 platelets/µL at Week 24Durable platelet responses were achieved in four out of six patients in the 250 mg dose cohort, with two out of six patients experiencing platelet levels >100 x 103/µL for over 24 weeks Of the four patients who had previously been treated with rituximab, three responded to treatment with budoprutug, two with durable and complete responses Results to date support continued clinical evaluation of budoprutug in ITP; enrollment in the 1000 mg cohort is ongoing The poster presentation is available on the Pipeline & Science—Publications page of the Company’s website here.
About Climb Bio, Inc.
Climb Bio, Inc. is a clinical-stage biotechnology company with a mission to deliver high impact, disease-modifying medicines for individuals living with immune-mediated diseases, including those affecting kidney health. The Company’s pipeline includes, budoprutug, an anti-CD19 monoclonal antibody that has potential to treat a broad range of B-cell mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody being developed for IgA nephropathy. For more information, please visit climbbio.com.
About Budoprutug
Budoprutug is a clinical-stage, anti-CD19 monoclonal antibody with the potential to address a broad range of B-cell mediated, immune-driven diseases. Designed with enhanced effector function and low picomolar affinity, budoprutug targets and depletes CD19-expressing B cells, including plasmablasts and certain plasma cells, key sources of pathogenic autoantibodies. Early clinical data suggest budoprutug may offer durable B-cell depletion, rapid reductions in autoantibodies, and clinical remission in primary membranous nephropathy (pMN). Budoprutug is being evaluated in clinical trials for pMN, immune thrombocytopenia (ITP), and systemic lupus erythematosus (SLE). A subcutaneous formulation is also in development to enable broader patient access. Budoprutug has been granted Orphan Drug Designation and Fast Track Designation by the FDA for the treatment of pMN.
About Immune Thrombocytopenia
Immune thrombocytopenia (“ITP”) is a rare autoimmune disorder characterized by low platelet counts and an increased risk of bleeding, which can include serious mucosal, gastrointestinal and intracranial bleeding events. There are approximately 85,000 ITP patients in the United States alone. Approximately 40% to 50% of patients require chronic therapy over time, and approximately 20% fail multiple lines of therapy, underscoring the need for novel disease-modifying approaches with the potential to deliver durable responses while maintaining a favorable safety and tolerability profile.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding: future expectations, plans and prospects for Climb Bio; expectations regarding the therapeutic benefits, clinical potential and clinical development of budoprutug; the anticipated timelines for announcing data from Climb Bio’s ongoing and planned clinical trials; the anticipated timelines for enrolling patients in Climb Bio’s ongoing and planned clinical trials; plans for the development strategy for budoprutug; potential commercial opportunity for budoprutug in immune thrombocytopenia; and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “suggest,” “target,” “would,” “will,” “working” and similar expressions. Forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Climb Bio may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, important risks and uncertainties associated with: the ability of Climb Bio to timely and successfully achieve or recognize the anticipated benefits of its acquisition of Tenet Medicines, Inc. and its technology transfer and exclusive license agreement with Beijing Mabworks Biotech Co., Ltd.; Climb Bio’s ability to advance budoprutug and CLYM116 on the timelines expected or at all and to obtain and maintain necessary approvals from the U.S. Food and Drug Administration and other regulatory authorities; obtaining and maintaining the necessary approvals from investigational review boards at clinical trial sites and independent data safety monitoring boards; replicating in clinical trials positive results found in early-stage clinical trials or nonclinical studies; competing successfully with other companies that are seeking to develop treatments for primary membranous nephropathy, immune thrombocytopenia, systemic lupus erythematosus, IgA nephropathy and other immune-mediated diseases; maintaining or protecting intellectual property rights related to budoprutug, CLYM116 and/or its other product candidates; managing expenses; changes in applicable laws or regulation; the possibility that Climb Bio may be adversely affected by other economic, business and/or competitive factors; and raising the substantial additional capital needed, on the timeline necessary, to continue development of budoprutug, CLYM116 and any other product candidates Climb Bio may develop. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Climb Bio’s actual results to differ materially from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in Climb Bio’s most recent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Climb Bio’s views as of the date hereof and should not be relied upon as representing Climb Bio’s views as of any date subsequent to the date hereof. Climb Bio anticipates that subsequent events and developments will cause Climb Bio’s views to change. However, while Climb Bio may elect to update these forward-looking statements at some point in the future, Climb Bio specifically disclaims any obligation to do so, except as required by law.
Investors and Media
Carlo Tanzi, Ph.D.
Kendall Investor Relations [email protected]
Susquehanna analyst Mehdi Hosseini recently slapped a $1,750 price target on Micron (NASDAQ:MU | MU Price Prediction). The stock is trading at below $900, which means the call implies the shares would have to roughly double from here. The number is conspicuous enough that we should treat it as a high-end outlier rather than a Street base case. The 3-month analyst consensus target sits at $939, which is already below where the stock trades. So before anyone gets excited, the honest framing is this. A loud bull is pricing in another leg up. The average sell-side analyst thinks Micron has already overshot. That gap is the entire story.
The question worth chewing on is whether Micron is genuinely cheap at $891, or whether it has run ahead of even the optimists.
The bull case behind a $1,750 call Start with the earnings. Fiscal Q2 2026 revenue came in at $23.86 billion, beating consensus of $19.51 billion by 22.28%, and non-GAAP EPS of $12.20 blew past the $8.73 estimate. GAAP gross margin expanded to 74.4% from 36.8% a year earlier. Operating income went from $1.77 billion to $16.14 billion. Free cash flow grew 837.36% year over year to $6.90 billion.
Then there is the guide. Micron is telling you fiscal Q3 revenue will land at $33.50 billion, with non-GAAP EPS of $19.15 and gross margin around 81%. Margins like that used to be reserved for software companies, not commodity memory.
CEO Sanjay Mehrotra framed the moment plainly. “In the AI era, memory has become a strategic asset for our customers, and we are investing in our global manufacturing footprint to support their growing demand.” The board backed that view by approving a 30% dividend increase to $0.15 per share, alongside $650 million in buybacks during the first half of the fiscal year.
NVIDIA (NASDAQ:NVDA) recently certified Micron as an HBM4 supplier for the Vera Rubin platform, which matters because high-bandwidth memory is the part of the bill of materials AI customers actually fight over. On a forward earnings basis, the stock trades at 9x. If you believe Micron has structurally escaped its old commodity cycle, that multiple is the bull thesis in one digit.
The bear case staring back The stock is up 668% over the past year and 183% year to date. Memory is still a cyclical business. When supply catches up to demand, the same operating leverage that drove margins to 74.4% works in reverse.
Most of those gains can be given back in a matter of a few weeks if there’s any indication that these earnings are temporary. The moment Wall Street catches wind that AI hasn’t changed memory’s cyclical nature, this is a stock that will plunge. That said, there’s no such indication of that yet.
Is Micron actually cheap? Both sides have a real argument, which is what makes this interesting. At 8x forward earnings, Micron looks absurdly cheap if you accept the guide and assume HBM demand stays tight through the Vera Rubin cycle. At 42x trailing earnings, with the stock up nearly eightfold in a year and insiders trimming, it looks like a momentum trade that has lapped its own fundamentals.
For long-term holders, the figure that matters is the fiscal Q3 print, where Micron has guided to $33.50 billion in revenue and $19.15 in EPS. Hit those numbers cleanly and the bull camp gets its proof. Miss, or guide softly into fiscal 2027, and a stock trading at these levels has nowhere comfortable to hide. The $1,750 call is a bet that this cycle is different. The rest of Wall Street, for now, is not quite ready to make it.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Target (TGT - Free Report) Founded in 1902, Target Corporation offers guests fashionable, differentiated merchandise and everyday essentials at discounted prices. Its assortment spans the company’s core merchandise categories, including Apparel & Accessories, Beauty, Food & Beverage, Hardlines, Home Furnishings & Décor, and Household Essentials. Target enables guests to purchase products seamlessly in stores or through its digital channels, and it leverages stores as fulfillment hubs. In addition to merchandise sales, Target generates revenues from other sources, most notably advertising revenues and credit card profit-sharing income. Other capabilities include Roundel, Target Plus and membership fees, including paid Target Circle 360. Target’s Shipt subsidiary facilitates delivery services, including same-day delivery to guests.
TGT is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.32; value investors should take notice.
15 analysts revised their earnings estimate higher in the last 60 days for fiscal 2027, while the Zacks Consensus Estimate has increased $0.31 to $8.35 per share. TGT also boasts an average earnings surprise of +8.2%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, TGT should be on investors' short list.
Target shares are testing new highs. Why did TGT hit a new high? Price‑target increases from major firms often act as short‑term catalysts because they signal stronger confidence in earnings momentum, margin recovery and the company's ongoing turnaround.
Yesterday's Dividend Increase Reinforced The Bull CaseThe move builds on positive news from Thursday, when Target's board approved a quarterly dividend increase from $1.14 to $1.16 per share. It marks the company's 55th consecutive year of raising its annual dividend and its 236th straight quarterly payout since 1967.
Target Stock: Key Technical Levels To WatchTarget continues to hold a strong trend structure. The stock trades about 8% above both the 20‑day and 50‑day simple moving averages, roughly 13% above the 100‑day, and about 27% above the 200‑day. The 20‑day sits above the 50‑day, and the golden cross that formed in January, when the 50‑day moved above the 200‑day, keeps the longer‑term trend pointed higher.
Momentum supports that strength. MACD is above its signal line and the histogram is positive, which signals improving upside pressure compared with the prior pullback. When MACD holds above the signal line, it usually reflects sellers losing control while buyers continue to press the trend.
With price now above the prior 52‑week high at $133.10, that former ceiling can begin acting as support if the breakout holds.
Key Support: $117.00 — a nearby level where buyers stepped in previously and the closest reference point if the breakout retests lower Target Stock: Benzinga Edge Rankings BreakdownBelow is the Benzinga Edge scorecard for Target, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Target’s Benzinga Edge signal reveals a momentum-led setup with supportive quality and value scores, which fits the stock's breakout behavior on the chart. If momentum cools, traders will likely watch whether the stock can hold prior breakout areas as support rather than giving back the move quickly.
TGT Shares Are RisingTGT Price Action: Target shares were up 2.25% at $135.62 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro.
Image: happycreator/Shutterstock
Market News and Data brought to you by Benzinga APIs
Shares of Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) are up 5% in Friday trading, changing hands near $512 in the afternoon. The move comes after Citi delivered one of the most aggressive bull calls on the stock to date, putting a fresh spotlight on the AI accelerator narrative.
Citi analyst Atif Malik upgraded AMD shares from Neutral to Buy and lifted his price target from $460 to $575. That’s well above the prevailing average sell-side target of $421.49 and frames a sharp question for investors: After a monster rally, is AMD stock still too cheap?
The shares have already had a remarkable run, with AMD up 128% year to date (YTD) through Thursday’s close. Today’s gain extends that move and pushes the stock back toward the upper end of its 52-week range high of $546.44.
Citi’s Bull Case: GPU Upside Not Priced In Malik’s core thesis is that AMD’s graphics processing unit (GPU) story remains underappreciated. He argues that the market still treats AMD primarily as a central processing unit (CPU) stock, which leaves meaningful room for re-rating as the GPU narrative gains traction with institutional buyers.
The analyst describes AMD as “emerging as a legit second source” in the GPU market, a category long dominated by NVIDIA (NASDAQ:NVDA). Citi also believes AMD is well positioned to capture the “lion’s share” of accelerator business at Meta Platforms (NASDAQ:META).
That call lines up with AMD’s recent disclosures. The company has already announced a partnership with Meta Platforms for up to 6 gigawatts of Instinct GPUs, along with a similar-scale OpenAI deployment and an Oracle (NYSE:ORCL) cloud build-out using 27,000-plus MI355X accelerators.
Fundamentals Backing the Upgrade The Citi note arrives just weeks after Advanced Micro Devices posted a strong Q1 FY2026 report. The chip designer’s revenue reached $10.25 billion, up 38% year over year (YoY), while non-GAAP earnings per share came in at $1.37, beating consensus by 6%.
AMD’s Data Center revenue was the standout at $5.78 billion, growing 57% YoY on EPYC and Instinct GPU demand. Free cash flow surged to $2.57 billion, a sign that the AI buildout is translating to real cash generation rather than just bookings.
Furthermore, Advanced Micro Devices’ management guided Q2 2026 revenue to roughly $11.2 billion, implying 46% YoY growth, with non-GAAP gross margin expanding to around 56%. CEO Lisa Su stated, “Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations.”
The Run-Up Raises the Bar The counterpoint is straightforward. AMD stock has already moved sharply, and the valuation is demanding by any traditional measure. Advanced Micro Devices’ trailing P/E ratio of 159x and forward P/E ratio of 68x leave little margin for execution missteps on the MI450 ramp.
Retail sentiment reflects some of that skepticism. A widely upvoted WallStreetBets thread earlier this week argued that “AMD’s price has massively detached from forward earnings expectations,” and bearish chatter has clustered around capital allocation questions, including a flagged $350 million investment in a customer that buys AMD chips.
A single analyst target, however bold, doesn’t guarantee a path to $575. However, with 36 Buy and 5 Strong Buy ratings versus zero sells, the Street is broadly aligned with the bull thesis even as valuation discipline remains a live debate. Bank of America also recently lifted its AMD price target to $560 from $500, suggesting Citi isn’t alone in seeing more room to run.
What to Watch Now Investors can watch for whether today’s gains hold into the close and whether other sell-side firms follow Citi with their own AMD stock price target hikes. The MI450 ramp in the second half of the year remains the single biggest catalyst on the calendar, and any incremental hyperscaler win could reset numbers again.
For those already long, the prudent move may be reviewing their position sizing now that AMD shares have more than doubled in 2026. The bull case is intact and Citi’s reasoning is coherent, but the entry point is no longer cheap by any conventional metric, which raises the bar for higher price targets.
, /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced voting results from its 2026 Annual Meeting of Shareholders held on June 10, 2026 ("Annual Meeting"). Shareholders elected all 12 nominees for the board of directors, ratified the appointment of Target's independent registered public accounting firm, approved the advisory "Say on Pay" management proposal, approved the Amended and Restated Target Corporation 2020 Long-Term Incentive Plan, and rejected three shareholder proposals.
The Carideo Group, the independent Inspector of Election, has certified all voting results for the Annual Meeting. The final tabulation indicates that 392,543,988 shares were voted, representing approximately 86.4 percent of Target's outstanding shares as of the record date.
The final tabulation of votes for each proposal is as follows. Voting percentages may not foot due to rounding.
1. Shareholders elected each of the following board nominees for a one-year term:
Nominee
Percent For
Percent Against
David P. Abney
97.5
2.5
George S. Barrett
89.9
10.1
Gail K. Boudreaux
97.0
3.0
Stephen B. Bratspies
98.3
1.7
Brian C. Cornell
87.2
12.8
Robert L. Edwards
97.2
2.8
Michael J. Fiddelke
99.1
0.9
John R. Hoke III
98.8
1.2
Christine A. Leahy
88.5
11.5
Monica C. Lozano
95.2
4.8
Derica W. Rice
96.5
3.5
Dmitri L. Stockton
95.5
4.5
2. Shareholders ratified the appointment of Ernst & Young LLP as Target's independent registered accounting firm for fiscal 2026:
Percent
For 93.5
Against 6.3
Abstain 0.2
3. Shareholders approved, on an advisory basis, Target's executive compensation ("Say on Pay"):
Percent
For 89.0
Against 11.0
4. Shareholders approved the Amended and Restated Target Corporation 2020 Long-Term Incentive Plan:
Percent
For 95.0
Against 4.3
Abstain 0.7
5. Shareholders did not approve a shareholder proposal requesting a policy requiring the Board Chair to be an independent director:
Percent
For 38.1
Against 61.4
Abstain 0.5
6. Shareholders did not approve a shareholder proposal requesting a report on presence of pesticides in Target's private label brands:
Percent
For 16.9
Against 81.6
Abstain 1.5
7. Shareholders did not approve a shareholder proposal requesting a report on reducing plastic microfiber shedding:
Percent
For 18.4
Against 80.3
Abstain 1.3
About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.
Target on Friday said its shareholders rejected a proposal to separate the roles of board chair and executive leadership, with 38.1% votes in support — above the 29% level achieved by a similar measure in 2024.
Investors choosing between ARK Space & Defense Innovation ETF (ARKX 1.95%) and U.S. Global Jets ETF (JETS +1.93%) must weigh a pure-play airline focus against a broader, tech-heavy space-and-defense strategy.
Both exchange-traded funds target the broader aerospace theme but through fundamentally different lenses. While the U.S. Global Jets ETF concentrates on the day-to-day operations of commercial aviation and global carriers, the ARK Space & Defense Innovation ETF expands its reach to orbital technology, suborbital flights, and defense innovation. Understanding these nuances is essential because the airline industry often responds to consumer travel demand, while space and defense innovation may be driven by government contracts and technological breakthroughs. This comparison explores how these differing exposures influence cost, risk profiles, and portfolio composition for long-term holders seeking to capture growth in the skies and beyond.
Snapshot (cost & size)MetricJETSARKXIssuerUS GlobalARKExpense ratio0.6%0.75%1-yr return (as of May 27, 2026)28.7%71.8%Dividend yield0.8%NoneBeta1.181.38Assets under management (AUM)$865.2 million$717.3 millionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
The ARK Space & Defense Innovation ETF is the more expensive option, charging a 0.75% expense ratio compared to the 0.6% fee charged by the U.S. Global Jets ETF. While the 0.15 percentage point difference may seem minor, it could impact total returns as compounding takes effect over a long-term investment horizon.
Performance & risk comparisonMetricJETSARKXMax drawdown (4 yr)(35.2%)(25.6%)Growth of $1,000 over 4 years (total return)$1,423$2,411What's insideThe ARK Space & Defense Innovation ETF (ARKX) focuses on orbital and suborbital aerospace, with 56% of its portfolio in industrials and 27% in technology. It manages a portfolio of 45 holdings, and its largest positions include Rocket Lab (RKLB 10.91%) at 9.39%, Advanced Micro Devices (AMD +4.73%) at 7.75%, and L3Harris (LHX 1.45%) at 7.15%. This actively managed fund was launched in 2021.
The U.S. Global Jets ETF (JETS) tracks a more industry-specific group of 42 holdings, with 89% of its holdings in industrials. Its largest positions include Delta Air Lines (DAL +1.50%) at 12.66%, American Airlines Group (AAL +2.25%) at 12.62%, and United Airlines Holdings (UAL +2.58%) at 11.07%. The portfolio is designed to provide exposure to the entire global airline ecosystem, including regional carriers and aircraft manufacturers, which explains its heavy concentration in industrial companies. This fund was launched in 2015.
For more guidance on ETF investing, check out the full guide at this link.
Which looks like the better buyThe ARK Space & Defense Innovation ETF (ARKX) and U.S. Global Jets ETF (JETS) are both exchange-traded funds (ETFs). However, they cover slightly different market segments. Let’s explore how they stack up with one another.
First, there’s ARKX. This fund is focused on the space and defense sectors. Indeed, this fund leans into the emerging technology theme, with significant holdings in private space launch company Rocket Lab, semiconductor powerhouse AMD, and artificial intelligence (AI) stalwart Palantir. The fund has performed particularly well over the last year, generating a total return of nearly 72%. However, since its inception in 2021, the fund has generated a total return of 84%, with a compound annual growth rate (CAGR) of 12.6%. That’s slightly less than the benchmark S&P 500, which has generated a total return of 105%, with a CAGR of 14.9% over the same period. Finally, the fund has a hefty expense ratio of 0.75% and pays no dividend.
Next, there’s JETS. This fund covers the airline sector. Top holdings include the major U.S. carriers, such as American Airlines, Delta Air Lines, and United Airlines, as well as smaller carriers such as Allegiant Travel, Alaska Air, and SkyWest. The fund has underperformed since its inception in 2015. During that time, JETS has generated a total return of 28%, with a CAGR of only 2.3%. The S&P 500, by contrast, has generated a total return of 332% over the same period, with a CAGR of 14.1%. Lastly, the fund has an expense ratio of 0.60% and a dividend yield of 0.8%.
In summary, JETS and ARKX differ in many ways. ARKX is a growth-oriented fund, focused on emerging technologies. JETS is a classic sector fund that primarily covers the U.S. domestic air travel industry. ARKX has a significant performance edge, making it the choice for most growth-oriented investors. However, the fund’s high expense ratio (0.75%) may give cost-conscious investors pause.
Jake Lerch has positions in Rocket Lab and has the following options: long December 2026 $30 puts on Rocket Lab. The Motley Fool has positions in and recommends Advanced Micro Devices, L3Harris Technologies, Palantir Technologies, and Rocket Lab. The Motley Fool recommends Alaska Air Group, Allegiant Travel, and Delta Air Lines. The Motley Fool has a disclosure policy.
Delta Airlines President Peter Carter speaks at the International Air Transport Association (IATA) on Middle East, Rhiad flights and premium travel. -------- More on Bloomberg Television and Markets Like this video?
Delta Air Lines (DAL - Free Report) closed the most recent trading day at $78.21, moving -1.52% from the previous trading session. This change lagged the S&P 500's 0.3% gain on the day. Meanwhile, the Dow experienced a drop of 0.16%, and the technology-dominated Nasdaq saw an increase of 0.86%.
Prior to today's trading, shares of the airline had gained 8.3% outpaced the Transportation sector's gain of 4.42% and the S&P 500's gain of 1.92%.
The investment community will be closely monitoring the performance of Delta Air Lines in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.49, marking a 29.05% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.42 billion, up 4.65% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.37 per share and a revenue of $65.37 billion, indicating changes of -7.73% and +3.17%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Delta Air Lines. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.5% higher within the past month. At present, Delta Air Lines boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Delta Air Lines has a Forward P/E ratio of 14.78 right now. Its industry sports an average Forward P/E of 11.17, so one might conclude that Delta Air Lines is trading at a premium comparatively.
Investors should also note that DAL has a PEG ratio of 1.12 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Transportation - Airline industry had an average PEG ratio of 0.98.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
United Airlines (UAL - Free Report) closed at $105.14 in the latest trading session, marking a -3.38% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.74% for the day. Meanwhile, the Dow experienced a drop of 1.21%, and the technology-dominated Nasdaq saw a decrease of 0.89%.
The airline's stock has climbed by 16.17% in the past month, exceeding the Transportation sector's gain of 1.93% and the S&P 500's gain of 5.39%.
The investment community will be paying close attention to the earnings performance of United Airlines in its upcoming release. It is anticipated that the company will report an EPS of $1.9, marking a 50.9% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $17.58 billion, indicating a 15.41% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.63 per share and a revenue of $66.59 billion, signifying shifts of -9.32% and +12.72%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for United Airlines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.79% higher. United Airlines presently features a Zacks Rank of #4 (Sell).
In the context of valuation, United Airlines is at present trading with a Forward P/E ratio of 11.3. Its industry sports an average Forward P/E of 11.25, so one might conclude that United Airlines is trading at a premium comparatively.
Investors should also note that UAL has a PEG ratio of 0.9 right now. 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 average PEG ratio for the Transportation - Airline industry stood at 0.98 at the close of the market yesterday.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 224, finds itself in the bottom 9% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UAL in the coming trading sessions, be sure to utilize Zacks.com.
United Airlines planes parked at tarmac, after hundreds of Immigration and Customs Enforcement agents were ordered to deploy to airports to help fill TSA staffing gaps, Newark Liberty... Purchase Licensing Rights, opens new tab Read more
WASHINGTON, June 4 (Reuters) - United Airlines (UAL.O), opens new tab issued a safety bulletin to pilots on approaches at Newark airport after a Boeing (BA.N), opens new tab 767 aircraft struck a light pole on the New Jersey Turnpike on May 3.
Debris from the light pole that was just 15 feet above the ground subsequently struck a tractor-trailer traveling southbound on the turnpike that was captured in a harrowing video.
Get weekly news and analysis on U.S. politics and how it matters to the world with the Reuters Politics U.S. newsletter. Sign up here.
The 11 cabin and flight crew and 220 passengers deplaned at the gate without injury and the driver of the tractor-trailer sustained minor injuries. The plane sustained substantial damage.
United told pilots after the incident that for short-runway landings, approaches are to be conducted so touchdown occurs 1,500 feet (457.2 m) from the runway threshold, but not prior to 1,000 feet from the threshold.
United did not immediately comment.
United Flight Operations also issued an alert that applied to Newark arrivals specific to that runway. United said it identified that the pilot technique of "ducking under" contributes to low approach altitudes during the visual segment into some airports and runways.
The pilot told the NTSB he "got fast," while he turned the airplane into the headwind and pulled the power levers back to compensate and heard the first officer call out "airspeed slow" while on short final.
As they descended, the first officer recalled he stated, “Hey, you are slow,” followed moments later by, “You are still slow and a little low.” The captain stated that just before touchdown “he heard a thump" and the first officer recalled feeling a mild jolt.
The NTSB said the airplane suffered three punctures on the left lower fuselage and a tire on the left main landing gear had evidence of slash marks.
Reporting by David Shepardson; Editing by Aurora Ellis
Our Standards: The Thomson Reuters Trust Principles., opens new tab
At The International Air Transport Association in Rio De Janeiro, United Airlines CEO Scott Kirby discussed with Co-host of Bloomberg Surveillance Lisa Abramowicz the current challenges facing the airline industry including rising fuel costs and their impact on ticket pricing. -------- More on Bloomberg Television and Markets Like this video?
RIO DE JANEIRO — Delta Air Lines is the nation's most profitable carrier, but its hungry rival, United Airlines, is far bigger over the Pacific. Delta's new president, Peter Carter, says that just won't stand.
"We want to become stronger, better, faster in the trans-Pacific, and we want to become the leading U.S. carrier" across the Pacific, Carter told CNBC in an interview here during the International Air Transport Association's annual meeting. "Ultimately ... the real goal is to become the leading global carrier, which is a pretty audacious goal."
Carter, who was promoted in March, said some of that will come from Delta's joint venture with Korean Air, which is merging with Asiana Airlines.
Delta posted a net profit of more than $5 billion last year, compared with United's earnings of about $3.35 billion. However, for its trans-Pacific business, Delta's smaller network generated just $2.79 billion in revenue, compared with United's roughly $6.89 billion, according to company filings.
Trans-Pacific flying is often highly profitable, with long-haul flights commanding a premium and served by planes with dozens of premium seats.
Both carriers are adding new routes. Earlier this month, Delta launched nonstop service between Los Angeles and Hong Kong. United Airlines, meanwhile, is planning a nonstop between its San Francisco hub and Sapporo, Japan — a play for premium-ski traffic.
Read more about airlines' race to win over big spendersUnited ditches more economy seats to make room for bigger premium cabins with new layoutsWhy airline class wars will intensify in 2026Caviar and privacy: Airlines' business-class wars are hereDelta says premium travel is set to overtake coach cabin sales next yearAmerican Airlines is arriving late to the luxury travel boom. Can it catch up?First-class seats are getting so fancy they’re holding up new airplanesAirlines can’t add high-end seats fast enough as travelers treat themselves to first classDelta and United account for most of the U.S. airline industry's profits.
Delta spent the better part of the last two decades fashioning itself the luxury airline of the U.S., from high-end lounges to a lucrative partnership with American Express.
United has launched its own campaign using similar tactics, including a heavy investment in technology, massive aircraft orders, and an international network with new destinations from Mongolia to Croatia to Greenland.
The U.S. air travel market — the world's largest — is mature, meaning there's little room for significant annual growth. "Really, when we think about the future, it's all about international," Delta's Carter said.
United CEO Scott Kirby said Sunday that he was flattered by Delta's ambitions.
On the sidelines of the same conference, Kirby said he has "a lot of respect for Delta, and what they have done, and I take it as a huge compliment that Delta is beginning to acknowledge that they have an equal that they're worried about and trying to compete with us."
When asked what he wants to beat Delta on, Kirby replied: "Everything."
Carter said in the interview that Delta can't rest on its current success.
"We always have to be hungry to win, and I say that because I know United is out there competing against us and replicating the playbook a little bit," he said. "Bring 'em on."
Scott Kirby, CEO of United Airlines, speaks during an interview with Reuters on the sidelines of the International Air Transport Association (IATA) Annual General Meeting in Rio de Janeiro,... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesUnited remains open to buying slots, gates or other airline assetsKirby says American deal needed willing partner and management supportCEO says United on path to recover full fuel hit later this yearRIO DE JANEIRO, June 7 (Reuters) - United Airlines (UAL.O), opens new tab remains open to buying airport slots, gates or other assets if higher fuel prices put weaker rivals under pressure, but it is unlikely to pursue a major consolidation deal after its failed overture to American Airlines (AAL.O), opens new tab, Chief Executive Scott Kirby told Reuters on Sunday.
Kirby said in April that American declined to engage after he approached it about a merger, an idea Reuters reported he raised with U.S. President Donald Trump in February. American CEO Robert Isom rejected a tie-up as anti-competitive and bad for customers.
Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.
"I think consolidation is unlikely for United," Kirby said in an interview on the sidelines of the International Air Transport Association's annual meeting in Rio de Janeiro. "That doesn't mean we won't still be in the market to buy assets, but consolidation is a low probability."
MERGER NEEDED MANAGEMENT SUPPORTKirby defended the rationale for a deal with American, saying he believed it would have benefited consumers. But he said a transaction that large and unconventional could not be completed without support from American's management.
The United chief said he believed labor groups, shareholders and customers would have supported the deal. But American management's public opposition made the transaction impractical, he said. "You can't have the management team on record publicly saying it was anti-competitive," Kirby said.
Asked whether United had given up on American or could return to the idea later, Kirby repeatedly said any deal would require "a willing partner."
He also denied that United had discussed with the Trump administration giving the U.S. government a golden share as part of any merger proposal.
Higher fuel prices are testing airline margins and widening the divide between larger carriers with stronger brands and weaker rivals with less pricing power.
Kirby said United expects that higher fares will put it on track to recover later this year the full hit it has taken from surging fuel prices, underscoring the carrier's confidence in demand despite rising ticket prices. He said demand has stayed strong, though United expects higher fares eventually to have some impact.
BRAND-LOYAL AIRLINES PULL AHEADSeveral airline executives have said the fuel shock is separating stronger carriers from weaker ones. Kirby framed the divide as one between airlines with customer loyalty and those still competing largely on price.
He rejected criticism by Willie Walsh, head of the International Air Transport Association, that large U.S. carriers are squeezing out competition. Kirby said United and Delta Air Lines (DAL.N), opens new tab are winning because they have invested in brands and products that travelers value.
"Customers care about the technology, the service, the reliability, the product," Kirby said. "They want a great experience. They don't just want a seat." Kirby said United's advantage is less about its balance sheet than its operating profit, which allows the airline to keep investing while some similarly sized rivals are just breaking even.
Asked whether JetBlue Airways (JBLU.O), opens new tab would become more attractive to United if it entered Chapter 11, a financial restructuring process, Kirby said he thought that scenario was unlikely, citing JetBlue's cash and unencumbered assets.
He also dismissed fuel hedging as a structural answer to the industry's exposure to volatile fuel costs, saying it is "ineffective if you lose money over time."
While he acknowledged Delta's refinery is helping it in the current environment, Kirby said United is not interested in following its U.S. rival by buying a refinery.
Reporting by Rajesh Kumar Singh and Joe Brock; Editing by Edmund Klamann
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Rajesh Kumar Singh is the U.S. Aviation Correspondent at Reuters, based in Chicago, where he reports on airlines, aircraft manufacturers, and regulatory developments that shape the global aviation industry. Prior to this role, he covered U.S. manufacturing and trade policy, including the U.S.–China trade wars, where his work delved into the disruption facing American businesses and the strategic responses of major corporations. He began his career with Reuters in India, where he reported on a wide range of issues covering the country's economic complexities—from its recovery after the global financial crisis to the challenges of inflation and governance.
Joe Brock is Reuters' aerospace and defense editor, based in Los Angeles, where he leads a global team of reporters covering airlines, aerospace, weapons manufacturers, and the space industry. Joe has previously worked in Singapore, Johannesburg, Abuja and London as a reporter and bureau chief. He has received several awards for his investigative journalism, including from the Society for Advancing Business Editing and Writing and The Society of Publishers in Asia.
RIO DE JANEIRO — United Airlines CEO Scott Kirby said he doesn't expect more airline consolidation in the U.S. and he's not interested in pursuing a merger for his airline after American Airlines rejected the idea of a combination earlier this year.
"United's not going to do a deal just to do a deal," Kirby told reporters Sunday on the sidelines of the International Air Transport Association's annual meeting.
When asked about the wave of consolidation that has brought together Allegiant and Sun Country this year, and Alaska Airlines and Hawaiian Airlines in 2024, Kirby said further combination opportunities look unlikely: "There's nothing," he said.
"It's a lot harder," he said. "I've been ... one of the primary architects of consolidation in the United States. I've been around a lot of these deals. It's hard, and you shouldn't do deals that don't make economic sense."
Kirby has repeatedly dismissed the idea of buying its new partner, JetBlue Airways.
But earlier this year Kirby discussed the possibility of combining with American, where Kirby used to work, floating the idea to the Trump administration, CNBC previously reported.
Kirby later said in a statement that he had hoped a combined airline would compete with big foreign rivals, though some analysts said the tie-up would face insurmountable regulatory hurdles.
A merger "requires support from everyone," Kirby told reporters at the IATA conference. "We would need the unions, we'd need the customers, the shareholders, the regulators and the management team."
He said, however, regarding American's management team, "we don't have that, clearly, so we can't get it done without them."
Delta Air Lines President Peter Carter similarly told CNBC on Saturday that he doesn't see a merger or acquisition in Delta's future. He said the carrier's longtime strategy has been partnerships and joint ventures, which include those in South Korea, Mexico and Europe.
Because the U.S. domestic air travel market is so mature, international travel is the future, Carter said. He added he wants to take on United, the second most-profitable airline in the U.S., in the lucrative trans-Pacific market.
RIO DE JANEIRO — Airplane engine makers have fallen short of what they promised airlines, major carriers' CEOs say, a problem vexing an industry that has struggled for years with aircraft shortages and more recently, a doubling of fuel prices.
It's a paradox: Engine makers dazzled carriers with more fuel-efficient options for new planes from Boeing and Airbus. But production shortfalls and disappointing reliability with those engines are becoming costly problems, CEOs said in interviews at the industry's largest annual gathering here.
Airline executives said they're being forced to remove engines and take them for maintenance into crowded shops earlier than expected, which is driving up costs and sucking up the fuel savings they were supposed to get from the engines.
Airline leaders told CNBC this week that travel demand is still strong despite higher fares, so having aircraft on the ground means money left on the table, just as a $100 billion higher fuel bill this year is slashing airline profit prospects.
Alexis von Hoensbroech, CEO of Canada's WestJet, told CNBC in an interview ahead of the more than 370-airline International Air Transport Association's annual assembly that the new engines promising fuel savings of around 15% or more compared with earlier models were "engineering marvels."
"However, as you push the limits, it sometimes comes at the cost of reliability, and what we all are seeing is that those engines have to go into unscheduled maintenance far more frequently than prior engine generations," he said.
Newer models of aircraft engines burn hotter, allowing them to use less fuel. That's key since fuel is airlines' biggest cost after labor. But that can also mean they wear out faster, which can ground planes, though carriers keep some spare engines.
Von Hoensbroech and other airline executives told CNBC that the new the engines have not reached the reliability that airlines need, through there have been improvements.
"That's a big struggle, because it adds a lot of costs," he said. "So a lot of the fuel savings are in fact eaten up by unplanned maintenance costs."
'Lack of engines'Manufacturers have invested heavily in expanding engine overhaul and other maintenance capabilities, while third-party shops have also seen a windfall.
New engines are costly, but aircraft production is still behind schedule, and that's keeping older engine values up, too.
For example, a CFM56 engine made by GE Aerospace and its French partner Safran that powers older Boeing 737s was going for $9.2 million at the start of the year, up 17% since 2019, according to IBA Group. A Pratt & Whitney PW1127 for newer Airbus narrow-body planes was up more than 57% over that time, according to the aviation intelligence and advisory company.
Engine overhaul and maintenance has become a more than $58 billion business.
watch now
Willie Walsh, the outgoing director general of IATA, told the conference in Rio de Janeiro that he is "deeply disappointed customers have not dented manufacturer finances," and pointed to a jump in engine supplier profits.
"My message to the engine [original equipment manufacturers] is simple: Stop gouging us and get back to making great engines that work and that last," he said. "Allowing these failures to extend into the next decade is totally unacceptable to the customers."
For its part, GE Aerospace, which makes engines for both Airbus narrow-body A320 planes and Boeing narrow-body and wide-body aircraft, said it has been working on improvements and has also increased output.
"We've made significant investments to enhance time-on-wing, reduce cost of ownership, and increase output and we will continue to invest to drive meaningful improvements," the company said in a statement. "While there is more to do, we are making progress every day to continue to deliver long-term value for our customers."
GE powers Boeing's bestselling 737 Max with its CFM joint venture with France's Safran. Those Leap engines are also options on the Airbus A320 narrow-body planes, with Pratt & Whitney as the other. GE engines also are used on a majority of 787 Dreamliners.
United Airlines CEO Scott Kirby praised GE for making improvements, but said there are still concerns for the industry.
"The biggest constraint for at least the next five years is going to be lack of engines," Kirby said.
He pointed to a shortfall of parts like forgings and castings and said when it comes to smoothing out supply, "I don't really think we've started yet."
Pratt and some of its customers have the added problem of a manufacturing defect from several years ago. The issue forced airlines to ground planes with those engines, which was one of the biggest challenges that hit now-defunct Spirit Airlines. Pratt's parent, RTX, didn't immediately comment.
Rolls-Royce, another manufacturer, said it is still working on efficiency. The company said it has invested £1 billion ($1.33 billion) in its Trent engine fleet and a mode that "offers up to triple time on wing, resulting in improved fleet planning and a reduced maintenance burden for customers."
Rolls-Royce is a strong buy, outperforming mid-term targets after restructuring, despite recent criticism and minor stock underperformance. United Airlines' public criticism of Rolls-Royce is rooted in a contractual dispute over A350 engine agreements, not broad reliability concerns. United's fleet needs indicate the Airbus A350, powered solely by Rolls-Royce, is a necessary replacement for aging 777-200ERs on long, high-demand routes.
United Airlines (UAL - Free Report) closed at $102.78 in the latest trading session, marking a -6.25% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.62% for the day. Elsewhere, the Dow saw a downswing of 1.87%, while the tech-heavy Nasdaq depreciated by 1.98%.
The stock of airline has risen by 14.39% in the past month, leading the Transportation sector's gain of 3.78% and the S&P 500's loss of 0.03%.
The upcoming earnings release of United Airlines will be of great interest to investors. The company is predicted to post an EPS of $1.9, indicating a 50.9% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $17.58 billion, indicating a 15.41% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $9.63 per share and a revenue of $66.59 billion, demonstrating changes of -9.32% and +12.72%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for United Airlines. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 last 30 days, the Zacks Consensus EPS estimate has moved 2.79% higher. United Airlines currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United Airlines has a Forward P/E ratio of 11.38 right now. This expresses a premium compared to the average Forward P/E of 11.36 of its industry.
It is also worth noting that UAL currently has a PEG ratio of 0.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Transportation - Airline industry currently had an average PEG ratio of 1 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 16% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
United Airlines (UAL - Free Report) closed the most recent trading day at $115.52, moving +2.58% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.5%. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Heading into today, shares of the airline had gained 17.28% over the past month, outpacing the Transportation sector's gain of 5.1% and the S&P 500's loss of 0.23%.
Market participants will be closely following the financial results of United Airlines in its upcoming release. On that day, United Airlines is projected to report earnings of $1.9 per share, which would represent a year-over-year decline of 50.9%. At the same time, our most recent consensus estimate is projecting a revenue of $17.58 billion, reflecting a 15.41% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $9.63 per share and a revenue of $66.59 billion, demonstrating changes of -9.32% and +12.72%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for United Airlines. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.08% upward. United Airlines currently has a Zacks Rank of #3 (Hold).
In terms of valuation, United Airlines is currently trading at a Forward P/E ratio of 11.69. This represents a premium compared to its industry average Forward P/E of 11.65.
Investors should also note that UAL has a PEG ratio of 0.93 right now. 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 average PEG ratio for the Transportation - Airline industry stood at 1.02 at the close of the market yesterday.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 16% 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.
Exxon Mobil (XOM - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this oil and natural gas company have returned +1.4% over the past month versus the Zacks S&P 500 composite's +0.2% change. The Zacks Oil and Gas - Integrated - International industry, to which Exxon belongs, has gained 3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Exxon is expected to post earnings of $3.89 per share for the current quarter, representing a year-over-year change of +137.2%. Over the last 30 days, the Zacks Consensus Estimate has changed +1%.
The consensus earnings estimate of $11.66 for the current fiscal year indicates a year-over-year change of +66.8%. This estimate has changed +1.9% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $10.58 indicates a change of -9.3% from what Exxon is expected to report a year ago. Over the past month, the estimate has changed -0.5%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Exxon is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Exxon, the consensus sales estimate of $97.91 billion for the current quarter points to a year-over-year change of +20.1%. The $389.47 billion and $380.97 billion estimates for the current and next fiscal years indicate changes of +17.2% and -2.2%, respectively.
Last Reported Results and Surprise HistoryExxon reported revenues of $85.14 billion in the last reported quarter, representing a year-over-year change of +2.4%. EPS of $1.16 for the same period compares with $1.76 a year ago.
Compared to the Zacks Consensus Estimate of $81.49 billion, the reported revenues represent a surprise of +4.47%. The EPS surprise was +8.41%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Exxon is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Exxon. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Item 1 of 2 Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration
[1/2]Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesGEORGETOWN, June 9 (Reuters) - U.S. oil major Exxon Mobil (XOM.N), opens new tab on Tuesday reported $4.67 billion in profit from its Guyana operations in 2025, slightly lower than the previous year when oil prices were weaker.
Exxon leads the consortium that produces all of Guyana's oil output and currently produces more than 900,000 barrels per day from the country.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
Hess, a minority partner in the consortium and now owned by Chevron (CVX.N), opens new tab, earned $2.89 billion in 2025 according to its financial statement, down from $3.15 billion in 2024.
Benchmark Brent oil prices averaged $68.19 per barrel last year, about 15% lower than in 2024.
The U.S.-Israeli war on Iran that began in February has since caused Brent futures to rise to the $90 range.
Reporting by Kemol King in Georgetown; Writing by Sheila Dang; Editing by Mark Porter, Alexandra Hudson
Our Standards: The Thomson Reuters Trust Principles., opens new tab
