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Macy’s, Inc. (NYSE:M – Get Free Report) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.78.

Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a “hold” rating on shares of Macy’s in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Macy’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. BTIG Research reaffirmed a “neutral” rating on shares of Macy’s in a report on Friday, September 11th. Wall Street Zen raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Sunday, September 20th. Finally, Citigroup upped their target price on shares of Macy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th.

View Our Latest Stock Report on M

Macy’s Stock Performance Macy’s stock opened at $22.71 on Thursday. The stock’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $22.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 1.59. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 8.32 and a beta of 1.44. Macy’s has a fifty-two week low of $16.69 and a fifty-two week high of $26.58. Macy’s (NYSE:M – Get Free Report) last posted its earnings results on Thursday, September 10th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.26. Macy’s had a return on equity of 13.21% and a net margin of 3.29%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Macy’s has set its Q3 2026 guidance at -0.230–0.190 EPS and its FY 2026 guidance at 2.150-2.350 EPS. As a group, analysts expect that Macy’s will post 2.34 earnings per share for the current fiscal year.

Macy’s Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of $0.1915 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.77 annualized dividend and a dividend yield of 3.4%. Macy’s’s dividend payout ratio (DPR) is 28.21%.

Hedge Funds Weigh In On Macy’s A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Macy’s by 23.4% in the 1st quarter. Bank of America Corp DE now owns 978,206 shares of the company’s stock worth $17,696,000 after purchasing an additional 185,678 shares during the period. Royal Bank of Canada raised its stake in Macy’s by 149.3% during the 1st quarter. Royal Bank of Canada now owns 175,506 shares of the company’s stock valued at $3,175,000 after buying an additional 105,117 shares during the last quarter. Monument Capital Management bought a new position in shares of Macy’s during the 3rd quarter valued at $2,434,000. Amundi lifted its holdings in shares of Macy’s by 375.7% during the 1st quarter. Amundi now owns 230,041 shares of the company’s stock valued at $4,161,000 after buying an additional 181,684 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Macy’s by 81.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,763,721 shares of the company’s stock valued at $104,266,000 after buying an additional 2,594,549 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

About Macy’s (Get Free Report)

Macy’s, Inc (NYSE:M) is an American omnichannel retailer that sells apparel, accessories, beauty products, home furnishings, jewelry, and other consumer merchandise through department stores, specialty stores, and digital platforms. Its principal brands include Macy’s, Bloomingdale’s, and Bluemercury, a beauty retailer offering cosmetics, skincare, fragrance, and related services.

The company serves customers primarily in the United States through its stores and e-commerce operations. Macy’s offers a mix of national and private-brand merchandise, while Bloomingdale’s focuses on premium and luxury products and Bluemercury operates beauty stores and in-store beauty shops.

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Micron Technology (MU -4.08%) has become a stock that retail investors love for its strong growth and cheap valuation, while institutional investors have grown increasingly cautious about its outlook. The latest investor to warn about Micron was Cathie Wood of Ark Investment Management, who said that while the current trend is up, memory cycles can be "viscous" and that increased competition from China could eventually upend the market.

If history is any guide, Micron could see its stock crash, and it could take decades to potentially recover.

Image source: The Motley Fool.

Before its latest surge, Micron set its all-time high all the way back in the summer of 2000 before the dot-com bubble burst. The company saw soaring revenue and profits driven by a memory shortage that pushed up average selling prices. At the same time, demand for DRAM (dynamic random-access memory) was surging due to a huge PC cycle sparked by the end of Y2K, the internet, and the release of Windows 2000. NAND (flash) memory prices were also soaring due to rising demand for electronic devices and cellphones.

Back in early 2000, Micron's stock went parabolic before eventually crashing back to Earth, and it took roughly two decades for the stock to recover. In the end, it was just another example of the huge boom-and-bust cycles the stock and the industry has gone through over the years.

Micron stock has seen a similar parabolic rise this year, although it makes the 2000 surge look small in comparison. Thus, while the semiconductor stock appears extremely cheap based on near-term earnings, the question is whether this time will be different than memory cycles.

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Is this memory cycle different? Micron is currently one of three big DRAM makers, along with Korean rivals Samsung and SK Hynix. Last quarter, it derived 73% of its revenue from DRAM and 26% from NAND. Together, these three companies control over 85% of the DRAM market.

In addition to the big three DRAM makers, Chinese company CXMT also produces DRAM, as does Taiwanese company Nanya. The NAND market, meanwhile, has more players, including Sandisk, Japanese company Kioxia, and Chinese company YMTC.

The memory cycle is currently being driven by high demand coming from the AI infrastructure build-out. AI chips, such as graphics processing units (GPUs), must be packaged with high bandwidth memory (HBM), a specialized form of DRAM, to reduce latency, while massive solid-state drives (SSDs) are needed to store training data. The big three memory makers, who have put most of their efforts and resources into HBM, have meanwhile caused conventional DRAM and NAND prices to skyrocket.

And this is what ultimately puts Micron and the whole memory trade at risk. While Micron is benefiting from huge HBM demand, conventional memory prices are what are driving the company's colossal revenue growth and gross margin expansion. By my estimate, Micron derives less than 10% of its revenue from HBM (an approximate 20% market share on a projected $54.6 billion market). This makes it very exposed to a pullback in ordinary DRAM and NAND prices.

While booming demand for HBM and memory companies signing longer-term contracts for the first time do make elements of the current memory cycle different than past ones, risks are also on the rise. CXMT has been increasing its DRAM capacity and taking market share, and it recently announced that it is making meaningful progress with more efficient chip designs. While it is very unlikely that any of its chips will be allowed in U.S. data centers, just increasing overall ordinary DRAM supply could have a big impact on conventional memory prices.

If increased DRAM and NAND supply, driven by increased capacity from China, leads to a big drop in conventional memory prices, I'd expect history to largely repeat itself, with Micron's stock crashing and never returning to prior highs. However, I don't think it will crash quite as far as in 2000, and that the company can remain profitable, unlike in past bust cycles. Still, I'd avoid this AI stock for now.

Union Pacific (NYSE:UNP – Get Free Report) is expected to be posting its Q3 2026 results before the market opens on Thursday, October 22nd. Analysts expect Union Pacific to post earnings of $3.47 per share and revenue of $7.12 billion for the quarter. Parties may visit the company’s upcoming Q3 2026 earnings overview page for the latest details on the call scheduled for Thursday, October 22, 2026 at 8:45 AM ET.

Union Pacific (NYSE:UNP – Get Free Report) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.15. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the business posted $3.03 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts expect Union Pacific to post $13.05 EPS for the current fiscal year and $14.01 EPS for the next fiscal year.

Union Pacific Stock Performance Shares of UNP stock opened at $286.01 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. Union Pacific has a one year low of $215.53 and a one year high of $315.99. The company’s 50-day simple moving average is $287.94 and its 200-day simple moving average is $276.17. The stock has a market capitalization of $169.91 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.80 and a beta of 0.95.

Union Pacific Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, August 31st were issued a $1.42 dividend. This is an increase from Union Pacific’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 31st. Union Pacific’s dividend payout ratio is presently 45.99%. Analyst Ratings Changes Several analysts have issued reports on UNP shares. Evercore restated an “outperform” rating and set a $294.00 price objective on shares of Union Pacific in a research note on Thursday, June 25th. Susquehanna reduced their target price on Union Pacific from $345.00 to $333.00 and set a “positive” rating on the stock in a report on Friday, October 2nd. Erste Group Bank started coverage on Union Pacific in a research report on Thursday, August 27th. They issued a “buy” rating for the company. Robert W. Baird lifted their target price on Union Pacific from $311.00 to $344.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $320.00 price target (up from $285.00) on shares of Union Pacific in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Union Pacific currently has a consensus rating of “Moderate Buy” and an average price target of $325.72.

View Our Latest Report on Union Pacific

About Union Pacific (Get Free Report)

Union Pacific Corporation (NYSE: UNP) is a freight railroad company that operates one of the largest rail networks in North America. Through its principal subsidiary, Union Pacific Railroad, the company provides transportation services for businesses across the western two-thirds of the United States.

Union Pacific transports a broad range of commodities and manufactured goods, including agricultural products, automotive vehicles and parts, chemicals, coal, industrial products, forest products, and intermodal containers.

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Kilroy Realty (NYSE:KRC – Get Free Report) is expected to be posting its Q3 2026 results after the market closes on Thursday, October 22nd. Analysts expect Kilroy Realty to announce earnings of $0.1252 per share and revenue of $268.41 million for the quarter. Kilroy Realty has set its FY 2026 guidance at 3.490-3.630 EPS. Parties can find conference call details on the company’s upcoming Q3 2026 earnings results page for the latest details on the call scheduled for Friday, October 23, 2026 at 1:00 PM ET.

Kilroy Realty (NYSE:KRC – Get Free Report) last posted its earnings results on Monday, July 27th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.73). The business had revenue of $272.37 million for the quarter, compared to the consensus estimate of $267.39 million. Kilroy Realty had a return on equity of 3.04% and a net margin of 15.47%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, analysts expect Kilroy Realty to post $3.59 EPS for the current fiscal year and $3.29 EPS for the next fiscal year.

Kilroy Realty Trading Down 4.7% NYSE:KRC opened at $33.29 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.65 and a quick ratio of 2.65. Kilroy Realty has a one year low of $27.36 and a one year high of $43.58. The company has a market cap of $3.87 billion, a PE ratio of 8.98 and a beta of 1.16. The firm has a 50-day moving average of $35.43 and a 200-day moving average of $35.31.

Kilroy Realty Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 6.5%. Kilroy Realty’s dividend payout ratio (DPR) is presently 152.11%. Analyst Upgrades and Downgrades A number of research firms have issued reports on KRC. JPMorgan Chase & Co. cut their price target on Kilroy Realty from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Citigroup increased their price objective on Kilroy Realty from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Evercore set a $44.00 target price on Kilroy Realty in a report on Monday, September 21st. Mizuho raised their target price on Kilroy Realty from $29.00 to $34.00 and gave the company an “underperform” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group lifted their target price on Kilroy Realty from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.62.

Check Out Our Latest Stock Analysis on Kilroy Realty

Kilroy Realty Company Profile (Get Free Report)

Kilroy Realty Corporation (NYSE: KRC) is a real estate investment trust that develops, owns, and operates office, life science, and mixed-use properties. The company focuses on high-quality, amenity-rich workplaces and research facilities designed to serve businesses in technology, life sciences, entertainment, and other knowledge-based industries.

Kilroy’s portfolio is concentrated in major innovation and employment centers on the U.S. West Coast, including the San Francisco Bay Area, Greater Los Angeles, and San Diego.

Read More Five stocks we like better than Kilroy Realty Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know

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Hub Group (NASDAQ:HUBG – Get Free Report) will likely be issuing its Q1 2026 results before the market opens on Thursday, October 22nd. Analysts expect the company to post earnings of $0.0658 per share and revenue of $964.07 million for the quarter. Interested persons may review the information on the company’s upcoming Q1 2026 earnings report page for the latest details on the call scheduled for Tuesday, October 20, 2026 at 4:00 PM ET.

Hub Group Stock Down 0.5% NASDAQ:HUBG opened at $26.25 on Thursday. The stock’s 50 day moving average price is $35.11 and its 200 day moving average price is $40.42. The company has a market capitalization of $1.61 billion, a PE ratio of 15.17 and a beta of 1.24. Hub Group has a 52-week low of $25.64 and a 52-week high of $53.26.

Hub Group Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.1250 dividend. The ex-dividend date was Monday, September 21st. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. Hub Group’s payout ratio is currently 28.90%.

Analyst Ratings Changes A number of equities research analysts have weighed in on HUBG shares. UBS Group reiterated a “neutral” rating on shares of Hub Group in a research note on Tuesday, September 15th. Zacks Research lowered shares of Hub Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 7th. Barclays set a $30.00 target price on shares of Hub Group and gave the stock an “equal weight” rating in a research report on Monday, September 28th. Robert W. Baird raised shares of Hub Group from a “neutral” rating to an “outperform” rating and set a $29.00 target price on the stock in a report on Monday. Finally, Wells Fargo & Company reiterated a “negative” rating and issued a $28.00 price target (down from $35.00) on shares of Hub Group in a research report on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.67. Check Out Our Latest Analysis on Hub Group

Hub Group Company Profile (Get Free Report)

Hub Group, Inc (NASDAQ: HUBG) is a North American transportation and logistics company headquartered in Oak Brook, Illinois. The company helps businesses move goods through a combination of intermodal, truckload, less-than-truckload, final-mile and other transportation services.

Hub Group’s intermodal operations coordinate freight shipments using rail and trucks, while its brokerage business connects shippers with third-party transportation providers. The company also provides dedicated transportation, managed transportation, logistics, warehousing and supply chain solutions designed to support customers’ domestic freight and distribution needs.

Founded in 1971, Hub Group serves customers throughout the United States and maintains transportation capabilities extending into Canada and Mexico.

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Sonos, Inc. (NASDAQ:SONO – Get Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $15.19 and traded as high as $17.94. Sonos shares last traded at $17.60, with a volume of 1,719,979 shares.

Analyst Upgrades and Downgrades A number of research analysts have recently issued reports on the company. Weiss Ratings raised Sonos from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Sonos in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Sonos from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

View Our Latest Stock Analysis on Sonos

Sonos Trading Down 0.7% The firm has a market capitalization of $2.08 billion, a PE ratio of 39.11 and a beta of 1.88. The business’s 50 day simple moving average is $16.23 and its two-hundred day simple moving average is $15.19. Sonos (NASDAQ:SONO – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. Sonos had a return on equity of 19.10% and a net margin of 3.82%. The firm had revenue of $375.26 million for the quarter, compared to the consensus estimate of $365.65 million. During the same period last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Sonos, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Sonos In other Sonos news, Director Julius Genachowski sold 19,855 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $17.00, for a total value of $337,535.00. Following the transaction, the director directly owned 53,775 shares of the company’s stock, valued at approximately $914,175. This trade represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 46,766 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $18.13, for a total transaction of $847,867.58. Following the sale, the director directly owned 69,271 shares of the company’s stock, valued at $1,255,883.23. The trade was a 40.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 76,621 shares of company stock worth $1,339,303. 1.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sonos A number of institutional investors and hedge funds have recently made changes to their positions in SONO. Fortitude Family Office LLC increased its stake in shares of Sonos by 325.3% in the 3rd quarter. Fortitude Family Office LLC now owns 1,544 shares of the company’s stock worth $28,000 after purchasing an additional 1,181 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Sonos during the second quarter valued at $59,000. Integrated Wealth Concepts LLC purchased a new position in Sonos during the second quarter valued at $75,000. Leonteq Securities AG lifted its position in Sonos by 45.2% during the first quarter. Leonteq Securities AG now owns 7,690 shares of the company’s stock valued at $103,000 after purchasing an additional 2,395 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Sonos during the second quarter valued at $128,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Company Profile (Get Free Report)

Sonos, Inc is an audio technology company that develops and sells connected sound products and software for homes and other personal listening environments. Its products are designed to work together over wireless networks, allowing users to stream and control music, podcasts, television audio and other content through the Sonos app and compatible services.

The company’s product portfolio includes wireless home speakers, portable speakers, soundbars, home theater components, subwoofers and headphones.

Further Reading Five stocks we like better than Sonos Tesla Wants to Make Its Own Chips—What Could Go Wrong? IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver? PBF Energy’s Stunning Rally Faces a Critical Test Citi Stock Falls Despite Earnings Beat: What Investors Need to Know Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.

Comfort Systems USA (NYSE:FIX – Get Free Report) is expected to be releasing its Q3 2026 results after the market closes on Thursday, October 22nd. Analysts expect the company to post earnings of $12.85 per share and revenue of $3.39 billion for the quarter. Individuals may visit the company’s upcoming Q3 2026 earnings summary page for the latest details on the call scheduled for Friday, October 23, 2026 at 11:00 AM ET.

Comfort Systems USA (NYSE:FIX – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%. Comfort Systems USA’s quarterly revenue was up 50.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.53 earnings per share. On average, analysts expect Comfort Systems USA to post $48.15 EPS for the current fiscal year and $59.31 EPS for the next fiscal year.

Comfort Systems USA Stock Performance Shares of NYSE FIX opened at $1,538.84 on Thursday. The firm has a market capitalization of $54.15 billion, a price-to-earnings ratio of 40.01 and a beta of 1.66. Comfort Systems USA has a one year low of $770.47 and a one year high of $2,073.99. The business has a fifty day simple moving average of $1,652.73 and a 200 day simple moving average of $1,730.07. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02.

Comfort Systems USA Increases Dividend The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.90 per share. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, August 13th. Comfort Systems USA’s dividend payout ratio is presently 8.85%. Insider Transactions at Comfort Systems USA In related news, insider Brian Lane sold 16,024 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the transaction, the insider owned 145,065 shares in the company, valued at $233,294,983.65. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,078 shares of company stock valued at $43,211,828. Corporate insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective for the company. Weiss Ratings raised shares of Comfort Systems USA from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Erste Group Bank lowered shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, DA Davidson began coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They issued a “buy” rating and a $2,100.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,082.86.

Check Out Our Latest Stock Analysis on FIX

Comfort Systems USA Company Profile (Get Free Report)

Comfort Systems USA, Inc (NYSE:FIX) provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company’s services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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AUDUSD is one of the weakest currencies right now, and after a very disappointing Australian jobs report, the sell-off has picked up speed. Unemployment rose from 4.6% to 4.7%, while employment fell by 39K instead of rising, so the RBA does not have much room for higher rates.

On the 4H chart, the rebound from the October low looks corrective, with several overlaps. I see it as a wave 4 bounce that stopped just below the 0.7000 resistance. Price has now broken the lower line of the corrective channel I have been following, which suggests that wave 5 lower is in progress.

If that is the case, the next targets are below 0.6900 and then the 0.6860 to 0.6813 support area. That zone is also important on the daily chart, where the decline from the September high looks like a counter-trend wave C. This is where the whole correction could end.

For now, more short-term weakness is possible, especially if stocks stay in risk-off mode and tech keeps falling, which can weigh on commodity currencies. I will stay with this view as long as price stays below 0.7074. But once price reaches the support area, I will be looking for signs of a bottom, because the long-term picture from the 2025 lows still looks bullish.

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Silver price (XAG/USD) is up 1.5% to near $56.50 during the European trading session on Thursday. The white metal holds ground near $55.40 as the US Dollar (USD) and United States (US) Treasury Yields are under pressure, with financial markets remaining confident that the Federal Reserve (Fed) will hold interest rates steady in the policy meeting later this month.

In the European trade, the US Dollar Index (DXY), which tracks gauges the Greenback’s value against six major currencies, is down 0.4% to near 102.10 even after recovering some of its early losses. Technically, a lower US Dollar makes the Silver price a favorable risk-reward bet for investors.

10-year US Treasury Yields have slid to near 5.09%, the lowest level seen in three weeks. Theoretically, a decline in US bond yields results in an improvement in the appeal of non-yielding assets, such as Silver.

Why Fed prospects for October matters now?On Wednesday, the US Consumer Price Index (CPI) report for September showed that price pressures grew at a faster-than-expected pace; however, they failed to uplift hawkish Fed expectations for the October meeting.

The CME FedWatch tool shows that the odds of the Fed hiking interest rates in the policy meeting later this meeting have increased marginally to 27% from 22% seen before the data release.

Hawkish Fed prospects for the October meeting were already lower as several policymakers had indicated no urgency for interest rate hikes. However, financial markets were awaiting the US inflation report, assuming that it might influence interest rate expectations.

US PPI data in focusMeanwhile, investors shift their focus to the US Producer Price Index (PPI) data for September, which will be published at 12:30 GMT. The US PPI will likely show that the headline inflation at the producer level dropped to 5.3% YoY from the previous reading of 5.4%.

Silver Technical Analysis

In the daily chart, XAG/USD trades at $56.63, maintaining a bearish near-term bias as price holds firmly below the 20-period Exponential Moving Average (EMA) at $60.73. The EMA’s position overhead suggests that recent rebounds are being capped by prevailing supply, while the Relative Strength Index (14) at 34.75 hovers just above oversold territory, hinting that downside momentum is still dominant but starting to look stretched.

On the topside, the 20-day EMA at $60.73 is the immediate resistance to beat before any more meaningful recovery can develop. On the downside, the July 17 low at $54.77 appears to be the crucial support level.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

Strong institutional demand should remain a key long-term structural element. September’s net inflows into global gold ETFs totaled $10 billion, adding 67 tonnes and bringing total holdings to an all-time high of 4,256 tonnes. Third-quarter inflows to ETFs reached an all-time high of $31 billion.

Silver: Tight Supply Meets Softer Industrial Demand Silver’s price tends to track gold’s but also reflects industrial demand and Fed policy. Unlike gold, however, silver faces a persistent physical supply-demand deficit. The Silver Institute expects the sixth straight year of a structural deficit for 2026, estimated at 46.3 million ounces, with industrial fabrication falling 3% to around 640 million ounces due to further decreases in loadings by the photovoltaic industry and other industries switching to alternative materials.

The Institute expects stronger investment demand to offset some weakness in industrial demand, while the market remains in deficit. Coin and bar investment in silver is expected to grow by 18% to 258 million ounces, while total supply is expected to decline by 2% to around 1.066 billion ounces.

There was ample evidence in September to support this view. For example, Indian silver ETFs attracted inflows of 19.74 billion rupees. Strong investor demand for precious metals, in general, was also evidenced during the broader equity market sell-off.

Gold Technical Analysis: XAU/USD Holds Above $4,128 as $4,161 Caps the Recovery Gold – Chart Gold (XAU/USD) is currently trading at $4,133.61, after a bounce from the $4,073.63 area on the 2-hour time frame. I like to draw your attention to the fact that the price bounce has taken gold above the $4,107-$4,128 area, but is still below a descending trend line and a resistance area formed by the moving averages. Thus, the overall bearish trend is still intact, despite the current bounce.The first area of interest on the upside is at $4,161.46, above which $4,181.44 and $4,216.96 would come into play. On the other hand, the first support comes in at $4,127.56, below which $4,107.28, $4,088.10, and $4,073.63 would come into focus.

Gold Price Forecast

Every new Gold analysis as it publishes, today's technical signal and key levels, live price — on one page.

See all Gold forecastsThe RSI is around the 50 level, suggesting neutral momentum. A sustained move above 50 would strengthen the bullish case, while a decline below that level would indicate renewed selling pressure. Although the broader trend remains bearish, I am slightly bullish on gold in the short term as long as it is above $4,128. A break below $4,128 would weaken the recovery. A clear break above $4,161 would give a stronger bullish edge to the setup. On the other hand, a break below the $4,107 area would strengthen the bearish case and bring 4,088-4,074 back in focus.

Silver – Chart Silver is trading at $56.03 on the 2-hour chart, continuing its decline while trading below the descending trend line and both moving averages. What I find particularly noteworthy is that the price has broken through several Fibonacci support levels and is now consolidating near the recent lows, which keeps the larger trend structure bearish.

The first support I have my eyes on is $55.41. A clear break below that would bring $54.85 into play, and subsequently $54.29. On the upside, $56.34 is the first resistance, with $56.92, $57.40 and $57.86 becoming further resistance levels if tested.

Market context and the 7th-order institutional demand defenseOn the 4-hour execution continuum, XAU/USD (Gold vs US Dollar) has transitioned into a tight structural compression, with spot price stabilizing near the 4,135.84 mark. Following a prolonged liquidation phase from the 4,700+macro highs, sellers have encountered a formidable institutional liquidity threshold. Downside probes have repeatedly failed to generate continuation, stalling against the monolithic bid foundation established across the 4,040–$4,090 pricing corridor.

This inability of sellers to force follow-through represents textbook Sell Volume Absorption. Rather than accelerating downward, price action has locked into a horizontal base. The market is physically coiling against an immovable wall of limit buy orders, signaling that the directional momentum of the preceding decline has reached terminal exhaustion.

Cluster density analysis (Sidebar architecture)Data aggregation via the SMAS Sidebar 3D exposes the dense structural friction defending the current consolidation:

The underlying titanium foundation: Directly anchoring current price action lies a 7th-Order Institutional Demand Super-Cluster (7TF: M5-M15-M30-H1-H2-H4-W1) spanning $4,040 – $4,090. Seven independent temporal horizons—from the 5-minute microstructure pulse to the macro Weekly baseline—have synchronized their confirmed demand footprints at this exact coordinate, creating a powerful multi-timeframe floor.Overhead resistance echelons: Any relief rotation will face layered supply barriers:An immediate 7th-Order Tactical Supply Cluster (7TF: M5-M15-M30-H1-H2-H3-H4) concentrated across $4,195 – $4,245.An intermediate ceiling at the 8th-Order Institutional Massif (8TF: M5-M15-M30-H1-H2-H3-H4-D1) spanning $4,340 – $4,430.Macro supply slabs positioned higher up across the $4,500 – $4,680 zone.Multi-timeframe phase telemetry (Structure balance 3D)The SMAS Structure Balance 3D module captures an inflection state of structural equilibrium, flashing an official BALANCED [7 vs 6] status:

Residual Intraday Drag: Intermediate frames still carry historical downside bias: M30 (-38°), H1 (-28°), H2 (-31°), H3 (-18°), and H4 (-8°). However, the visible deceleration from -38° down to just -8° on H4 confirms that selling velocity is rapidly drying up.Micro-Impulse Turnaround: Rapid tactical horizons have already initiated positive phase inversion: M3 (+16°), M5 (+3°), M10 (+7°), and M15 (+8°) have flipped green, confirming active limit accumulation.Macro Baseline Anchor: The senior macro horizon W1 remains firmly bullish at +26°, acting as a steady structural anchor.Telemetry Synthesis: This divergence between fading intraday selling and micro-buying against the weekly foundation confirms a classic Spring Compression Pattern, setting the stage for a mean-reversion rebound.Vector geometry and channel trajectory (Structure engine 3D)The SMAS Structure Engine confirms clear trend exhaustion on the active dynamic channel:

The channel's invariant slope angle currently reads at -18.2°, reflecting significant downward deceleration compared to earlier impulse phases.Price action is pressing directly into the channel's lower dynamic boundary. Having absorbed the downward move at these outer structural rails, directional sellers lack the momentum for an expansion breakdown, indicating a high-probability rotation back toward the channel's central equilibrium axis.Execution protocol and quantitative trade parametersWith sellers failing to breach the 7th-order demand foundation and phase balance stabilizing at the weekly anchor, an asymmetric Long Mean-Reversion Scenario is activated:

Order type: Long Accumulation / Buy Limit.Execution coordinate range: $4,110 – $4,138 (Current price: 4,135.84).Structural invalidation (Stop Loss): $4,025 (Placed safely below the 7TF titanium demand floor and the W1 base; calculated risk: ~85–110 points).Target objective 1 (Take Profit 1): $4,235 (+100 to +125 points; Retest of the 7TF supply cluster perimeter. Protocol: Liquidate 50% volume and systematically move Stop Loss to Breakeven +0.1H).Target objective 2 (Take Profit 2, Final): $4,360 (+225 to +250 points; Lower boundary of the 8th-Order Institutional Supply Massif 8TF).Risk / Reward Ratio: 1 : 2.45.

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Adds 14-person investment team and a seed portfolio with approximately $480 million of commitments originated by Encina

NEW YORK--(BUSINESS WIRE)--Franklin Templeton, Inc. (NYSE: BEN) and Benefit Street Partners, L.L.C. (BSP), the group’s alternative credit manager, have completed a transaction with Encina Lender Finance (Encina) that expands BSP’s asset-backed finance (ABF) platform. As of September 30, 2026, Franklin Templeton managed $1.8 trillion in assets, including over $300 billion in alternative assets, of which approximately $97 billion is managed by BSP.

Under the terms of the transaction, a new fund backed by Franklin Templeton and BSP-affiliated funds acquired an initial seed portfolio with approximately $480 million of commitments originated by Encina. In addition, a 14-person investment team from Encina joined BSP and will continue to manage and originate investments through the strategy.

The transaction expands BSP’s capabilities in consumer and commercial lender finance and continues the buildout of a comprehensive, multi-strategy private asset-backed finance platform focused on the middle market. The platform now spans corporate asset-backed lending, equipment leasing, aircraft leasing, consumer finance and lender finance.

With the completion of the transaction, the now combined ABF platform provides BSP with access to approximately 100 investment professionals and a track record dating to 2013. Having completed over $10 billion of investments since inception, BSP now believes the combined ABF platform has the capacity to originate more than $3 billion annually.

Jenny Johnson, CEO of Franklin Templeton, said: “We continue to expand and diversify our private markets capabilities, using our balance sheet selectively to support strategic growth. This transaction demonstrates the strength of our model: combining specialized investment expertise with Franklin Templeton’s global scale and distribution to build differentiated investment solutions for clients. With over $300 billion in alternative AUM, we believe there is significant opportunity to continue scaling our private markets capabilities globally.”

The Encina team focuses on providing senior secured, unitranche and first-out financing to consumer and commercial asset originators across the US and Canada. Its investments are supported by diversified pools of underlying assets, including consumer loans, credit card receivables and small business loans, supporting a data-driven approach to underwriting and portfolio management.

ABF is one of the largest and fastest-growing areas of the approximately $6 trillion global private credit market and accounted for around 20% of private credit fundraising in 2025, according to industry data.

David Manlowe, CEO of BSP, added: “Investor demand for ABF continues to grow among a mix of institutional allocators. Adding the Encina team is a natural extension of our existing strategies and broadens both our origination capabilities and the range of financing solutions we can provide. Together with Franklin Templeton, we continue to build a scaled private ABF platform, which we believe has significant capacity for growth across asset classes and geographies.”

Willkie Farr & Gallagher LLP and Simpson Thacher & Bartlett LLP served as legal counsel to Franklin Templeton and BSP. Berkshire Global Advisors served as exclusive financial advisor to Encina Lender Finance, and Mayer Brown LLP and Winston Taylor LLP served as its legal counsel.

About Franklin Templeton

Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity. With over $1.79 trillion in assets under management as of September 30, 2026, Franklin Templeton operates globally in more than 30 countries.

To learn more, visit franklintempleton.com and follow us on LinkedIn.

Franklin Templeton, Inc. [NYSE: BEN]

About Benefit Street Partners

Benefit Street Partners (BSP) is an alternative credit pioneer with $97 billion in assets under management as of August 31, 2026 (including Apera). It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning direct lending, real estate debt, structured credit, liquid loans and asset backed finance.

For more information, visit bspcredit.com and follow us on LinkedIn.

Forward-Looking Statements

Some statements in this press release may be forward-looking and reflect our current views about future events, financial performance and market conditions. These statements are provided under the safe harbor protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those not related solely to historical or current facts and can often be identified by words or phrases written in the future tense and/or preceded by words such as “anticipate,” “believe,” “could,” “depends,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “preliminary,” “seek,” “should,” “will,” “would” or similar terms, though these are not the only ways such statements may appear.

Various forward-looking statements in this press release relate to Franklin Templeton and BSP’s transaction with Encina, including regarding expected opportunities, operating results, growth, client and stockholder benefits and key assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause actual results to differ materially from outcomes expressed or implied by the statements. These factors include market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. Although forward-looking statements reflect our expectations, at the time made, about our business, the economy and possible future conditions, you should not rely on them. They are not guarantees of performance, and new factors may arise that we cannot foresee.

These risks and other important factors are described in Franklin Templeton’s recent filings with the U.S. Securities and Exchange Commission, including Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in its Annual Report on Form 10-K for the fiscal year ended September 30, 2025, and subsequent Quarterly Reports on Form 10-Q. Franklin Templeton undertakes no obligation to update any forward-looking statements to reflect new information, future developments or other changes unless required by law.

More News From Franklin Templeton, Inc.

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The Pound-New Zealand Dollar rate could face further pressure if UK GDP contracts, while risk appetite may determine whether the Kiwi can extend its recovery. The Pound to New Zealand Dollar (GBP/NZD) exchange rate was muted on Wednesday after a notable Bank of England (BoE) policymaker expressed scepticism about market pricing for future interest rate hikes.

At the time of writing, GBP/NZD was trading at around NZ$2.3591. A modest decline from the start of Tuesday's session.

Latest — Exchange Rates:

Pound to New Zealand Dollar (GBP/NZD): 2.362755 (+0.05%)

Euro to New Zealand Dollar (EUR/NZD): 1.993349 (-0.10%)

New Zealand Dollar to Dollar (NZD/USD): 0.561552 (+0.03%)

DAILY RECAP:

The Pound (GBP) faced headwinds on Wednesday, following comments by Bank of England Chief Economist Huw Pill on the sidelines of the International Monetary Fund’s (IMF) annual meeting in Bangkok.

Huw spoke about the need for the bank to begin tightening monetary policy but questioned the wisdom that the BoE will deliver four interest rate hikes over the next year.

Current market pricing suggests there is a 92% chance of the BoE raising rates by 25 basis points in November, with three more 25bps hikes following before September 2027.

As one of the most hawkish members of the BoE’s Monetary Policy Committee (MPC), Pill’s comments should raise some doubts amongst the more bullish GBP investors who are pushing the four-hike narrative.

The New Zealand dollar (NZD) appreciated during Wednesday’s Asian session, with the ‘Kiwi’ drawing support from a sharp improvement in Chinese trade data

Figures revealed that China’s trade surplus widened to $133.53bn in September, marking its largest monthly surplus in 20 months and comfortably exceeding market expectations.

In addition to underpinning a broader improvement in risk appetite, the data provided a particular boost to those currencies closely linked to the Chinese economy, such as the New Zealand and Australian Dollars.

However, analysts cautioned that September’s trade data primarily reflected strong overseas demand for Chinese goods rather than a decisive recovery in domestic consumption, which raises questions about whether the jump in import growth can be sustained.

Near-Term GBP/NZD Forecast: Contraction in GDP to Sink Sterling? Looking ahead to the second half of the week, the Pound to New Zealand Dollar (GBP/NZD) exchange rate could come under more notable pressure on Thursday, with the release of the UK’s latest GDP figures.

Consensus forecasts predict month-on-month growth contracted in August, further constricting the amount of fiscal headroom available to Chancellor John Healey as he prepares to deliver his first Autumn Budget later this month.

Meanwhile, in the absence of any impactful NZ data, movement in the ‘kiwi’ will be tied to market risk dynamics, with NZD potentially faltering if the US Dollar (USD) resumes its bullish run following the publication of the latest US inflation figures.

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

15.10.2026 08:53, BAAPEN

Skupina Photon Energy oznámila, že se s Andrejem Horánským dohodla na ukončení spolupráce s účinností ke 14. říjnu 2026.

Horánsky tak odstupuje z pozice finančního ředitele skupiny (CFO), do které nastoupil teprve 1. října 2026. Odpovědnost za finanční řízení skupiny se 14. října 2026 vrací Stanislavu Zemanovi. Ten funkci CFO zastával od 4. září 2025 do 30. září 2026 a od 1. října působil jako provozní ředitel (COO). Důvody odchodu společnost neuvedla.

Akcie Photon Energy Akcie Photon Energy (BAAPEN) včera na pražské burze uzavřely na 6,4 Kč.

Zdroj: Photon Energy

Michal Bárta
Fio banka, a.s.
Prohlášení

Související odkazy Společnost Photon Energy oznámila změny v managementu, na pozici CFO se vrací Andrej Horanský Společnost Photon Energy znovu odkládá výroční zprávu za rok 2025, nový termín zatím nestanovila Photon Energy ruší hlasování držitelů dluhopisů, návrhy by podle společnosti neprošly Photon Energy reportoval výsledky za 2Q a 1H 2026 Photon Energy odkládá kupon i výroční zprávu, věřitele svolává k hlasování o restrukturalizaci

ZKsync says it has built the first Ethereum prover that can generate proofs in real time on a single GPU. Ethereum co-founder Vitalik Buterin responded two days later with praise, and with homework.

The system is called Airbender Prime, and ZKsync announced it on October 13, 2026. Buterin publicly commended the team on October 15, 2026. He also argued that the focus should now move toward verifying zkEVM security, including system correctness and limits on how much proving can cost.

What Airbender Prime actually did ZKsync’s headline numbers come from a single NVIDIA RTX PRO 6000 Blackwell GPU. Across 7,200 Ethereum mainnet blocks, Airbender Prime proved 99% in under 10 seconds. Every block in the set was proved within 12 seconds.

The result places Airbender at the top of the ETHproofs.org public leaderboard, where it leads on proving time, GPU efficiency and cost-effectiveness.

A prior iteration of Airbender posted 21.8 MHz of throughput on an H100 GPU. The new version moves the conversation from raw throughput figures to something more tangible: keeping up with live Ethereum blocks on hardware you could plausibly buy.

Under the hood, Airbender relies on hash-based STARKs, a family of proof systems that ZKsync describes as secure against quantum attacks. It is built on RISC-V, an open instruction set standard, and its components are open source.

Buterin’s verdict: speed is solved, safety is next Buterin did not hedge on the performance side. He framed the race to make proving fast as effectively over.

“Speed battle… definitively won”

Then he pivoted. According to his comments, the next priority should be formal verification that the prover faithfully matches Ethereum’s specifications. He also called for bounds on prover costs tied to gas fees.

How Airbender fits into ZKsync’s roadmap Airbender is not arriving in isolation. It follows ZKsync’s earlier Atlas upgrade, part of a broader push to expand what Ethereum can handle.

The prover is already running across ZKsync’s supported chains. It was designed to operate efficiently on commodity hardware, with both institutional operators and independent participants in mind.

What this means for Ethereum and its scaling race On trust, Buterin’s comments effectively reset the scoreboard. The things to watch from here are fairly clear: progress on formal verification of Airbender against Ethereum’s specifications, any published work on prover cost bounds relative to gas, and whether rival zkEVM teams close the gap on the ETHproofs.org rankings.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

Asset manager VanEck has asked the U.S. Securities and Exchange Commission (SEC) to withdraw its proposed Lido Staked Ethereum ETF registration, ending plans for a fund designed to hold Lido’s stETH token and earn Ethereum staking rewards.

Summary

VanEck requested withdrawal of its proposed Lido Staked Ethereum ETF through an October 14 SEC filing. The asset manager originally submitted its registration statement on October 16, 2025, seeking regulated stETH exposure. VanEck confirmed the proposed fund never issued shares, sold securities, or distributed a preliminary prospectus. The planned ETF would have held Lido stETH while accumulating rewards generated through Ethereum staking. The withdrawal request gave no detailed explanation for ending the offering or announcing replacement fund plans. VanEck Digital Assets confirmed the decision in an October 14 filing, nearly one year after submitting the original registration statement on October 16, 2025. The company said it no longer intends to offer shares in the proposed fund and confirmed that no securities were issued or sold. The filing did not disclose what prompted the decision.

The withdrawal request concerns the VanEck Lido Staked Ethereum ETF, a proposed investment product that would have allowed investors to gain exposure to Ethereum staking through shares held in traditional brokerage accounts.

In its filing, VanEck Digital Assets asked the SEC to withdraw the fund’s registration statement, including its subsequent amendments and supporting exhibits.

The company submitted the request under Rule 477 of the Securities Act of 1933. The rule provides a procedure for withdrawing certain securities registration statements with the regulator’s consent.

VanEck explained that it “does not intend to proceed with the planned distribution” of the fund’s shares.

The asset manager confirmed that the registration statement had never become effective. It stated that no shares had been issued or sold and that investors had not received a preliminary prospectus.

As a result, the proposed fund never began operating as a publicly offered ETF. No existing shareholders need to redeem investments because the offering did not proceed.

The filing requested that the SEC approve the withdrawal effective October 14 or at the earliest practicable date afterward.

VanEck did not identify a replacement investment product or explain whether it intends to return with another ETF linked to Lido’s staking tokens.

The document was signed by Matthew A. Babinsky, vice president of VanEck Digital Assets, and submitted under registration number 333-290918.

What would VanEck’s Ethereum ETF have offered? VanEck originally filed its registration statement on October 16, 2025, proposing an ETF that would hold stETH, the liquid staking token issued through the Lido protocol.

The fund’s investment objective was to track the price of stETH after accounting for operating expenses.

Unlike conventional spot Ethereum ETFs that primarily hold ETH, VanEck’s proposed product would have held tokens representing Ethereum already deposited into Lido’s staking system.

Staking allows participants to help secure Ethereum’s network and receive rewards for supporting its transaction validation process.

Through Lido, users can deposit ETH and receive stETH representing their underlying deposits and accumulated staking rewards.

The token uses a rebasing mechanism, meaning holders can receive additional stETH over time as the underlying Ethereum staking position earns rewards.

VanEck’s original prospectus explained that the fund expected to accrue certain staking rewards through its ownership of stETH.

However, those rewards were not guaranteed. The filing described risks involving validator penalties, smart contracts, liquidity and changes in the market value of Ethereum.

The proposed ETF would have tracked stETH through a benchmark developed by MarketVector, an affiliate of the asset manager.

VanEck intended to operate the product as a passive investment vehicle. Its prospectus said the fund would not attempt to predict market movements or actively trade stETH to avoid losses.

The original registration left certain operational details unfinished, including the proposed exchange ticker and named custodians.

The fund was therefore still in the registration process when VanEck decided to abandon the planned offering.

Lido welcomed VanEck’s original ETF application VanEck’s withdrawal follows an earlier announcement from the Lido ecosystem supporting the proposed investment product.

In October 2025, the Lido Ecosystem Foundation welcomed the original ETF application, describing the proposal as an opportunity to bring liquid staking exposure into traditional investment markets.

Kean Gilbert, head of institutional relations at the foundation, said the filing showed growing interest in staking products that could meet institutional investment requirements.

He described liquid staking as an important part of Ethereum’s infrastructure and pointed to Lido’s existing role in providing staking services.

At the time, Lido reported that users had earned more than $2 billion in staking rewards through its protocol since launch.

The organization placed the total value locked in the protocol near $40 billion in its October 2025 announcement. The figure represented the protocol’s position at that time, not a current valuation.

The earlier VanEck ETF application linked to Lido’s staked Ether followed the company’s October registration of the proposed trust.

An earlier Lido price rally following VanEck’s trust registration saw the LDO governance token gain approximately 7%, with trading activity increasing after the initial announcement.

However, LDO and stETH serve different purposes. LDO is the governance token associated with the Lido protocol, while stETH represents Ethereum deposited into the staking system.

VanEck’s proposed fund would have held stETH, not LDO.

The October 14 withdrawal filing provided no market data or explanation linking the decision to either token’s price performance.

SEC had previously clarified rules for liquid staking The abandoned ETF proposal followed regulatory guidance addressing certain cryptocurrency staking activities in the United States.

In August 2025, the SEC’s Division of Corporation Finance published a staff statement examining whether particular liquid staking arrangements involved securities transactions.

The guidance explained that certain activities involving the deposit of crypto assets and issuance of staking receipt tokens may fall outside federal securities registration requirements, depending on their structure.

The SEC staff distinguished administrative staking services from arrangements involving managerial or entrepreneurial efforts that could create investment contracts.

The statement did not provide blanket approval for all liquid staking products or automatically authorize ETFs holding staking tokens.

As covered in earlier reporting on the SEC’s liquid staking guidance, the staff’s position applied to arrangements meeting specific conditions.

VanEck’s October 2025 prospectus discussed the guidance and stated that the sponsor believed its planned staking activities were consistent with the SEC staff’s interpretation.

The prospectus acknowledged that a different regulatory interpretation could create legal risks for the proposed fund and its service providers.

VanEck had pursued other staking-related investment products during the same period.

In August 2025, the company submitted a registration statement for a proposed ETF linked to JitoSOL, a liquid staking token associated with the Solana network.

The earlier VanEck JitoSOL ETF application sought exposure to staked Solana through a traditional investment structure.

The October 14 withdrawal concerns the Lido Staked Ethereum ETF registration specifically. The document does not request withdrawal of VanEck’s other cryptocurrency fund applications.

The original Lido ETF application remains identifiable through SEC registration number 333-290918. VanEck’s latest filing asks the regulator to withdraw that registration statement and its amendments under Rule 477, confirming that the planned securities offering never became effective.

Tether sent approximately $6.3 million to a consulting firm co-founded by Bo Hines, according to The Wall Street Journal. At least part of that money moved while Hines was still working in the White House.

Hines later joined Tether and now runs its US operations. The sequence is drawing conflict-of-interest scrutiny, because Hines helped advance the stablecoin law that now governs companies like his new employer.

What the Journal found
The firm is called Nxum. The Journal reported that Hines co-founded it and held a one-third ownership stake throughout his time in government.

Tether’s payments to Nxum came under a deal brokered in May 2025. The first payment landed while Hines still held his government post.

His job at the time was executive director of the White House’s digital assets council, a role he held from January to August 2025.

The Journal’s reporting draws on internal documents and payment records.

During that same stretch, Hines was a prominent advocate for the GENIUS Act. The bill set federal rules for dollar-pegged stablecoins, and President Trump signed it into law in July 2025.

Tether is the issuer of USDT, the largest stablecoin. A federal stablecoin framework therefore lands directly on its business, deciding who can issue these tokens in the US and on what terms.

From the council to the corner office
Hines left the White House in August 2025. That same month, he joined Tether as a strategic advisor.

By September 2025, he was named CEO of Tether’s US operations, with a mandate focused on expanding the company’s presence in the country.

Nxum has pushed back on that reading. The firm says Hines had no involvement with Tether while he was serving in government.

The research also indicates Hines took part in discussions about the GENIUS Act during a period when he was not active in Nxum’s operations. That distinction appears to be central to the defense: he owned a piece of the firm, but he was not running it.

What this means for Tether and stablecoin regulation
The GENIUS Act was sold as a framework built to bring order and credibility to stablecoins. A story suggesting that a key promoter had financial ties to a major issuer while the law was being shaped could hand critics fresh ammunition.

For Tether’s US ambitions, timing is awkward. The company is trying to build a domestic footprint under the very rules Hines helped promote, with Hines himself in charge of that effort.

Nxum’s position is that Hines kept his distance from Tether while in government. The payment records described by the Journal show the money moved anyway, and that gap between the two accounts is where the scrutiny will likely stay focused.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.

Researcher Tayvano has traced roughly $100 million to $103 million in stolen crypto tied to a supply-chain attack on Ledger hardware wallets sold through CryptoBilis. She was careful to say how she did it: Zcash’s privacy was not broken.

The trail came from gas payments. The attacker covered transaction fees from an associated wallet, and that one habit tied the operation together.

How the trail came together The scale of the theft is large. The research findings put the Ledger drainer incident at approximately $103.4 million in stolen assets.

Those funds were spread across roughly 530 addresses on seven different blockchains.

About three-quarters of the looted value sat in USDT on the Tron network. The rest was spread across other chains and assets.

Investigators also identified wallets holding approximately $38.6 million in ETH and $16.9 million in BTC. Tether, the issuer of USDT, froze $10 million of the stablecoin linked to the theft.

According to the research findings, the attacker’s decision to use an affiliated wallet for gas payments became the main link between the many addresses. By analyzing who funded those fees, researchers mapped out the attacker’s infrastructure.

What happened on the Zcash side Zcash is a privacy coin. Its shielded transactions are designed to hide the sender, the receiver and the amount from public view.

Tayvano stressed that those protections held. Nobody cracked the underlying math.

Instead, the Zcash portion of the trail was traced by matching 108 exact value exits to incoming batches. In plain terms, funds went into the shielded pool in certain amounts and came out in identical amounts, and the pattern lined up.

That distinction matters. A flaw in Zcash’s cryptography would be a protocol-level problem for every user. A pattern left by one careless operator is a lesson in operational security.

Background: a supply-chain attack, not a wallet hack The theft traces back to Ledger hardware wallets sold via CryptoBilis. That makes it a supply-chain attack, where the compromise happens somewhere along the path between the product and the buyer.

Once the funds were drained, the attacker had a familiar problem. Stolen crypto is visible on public ledgers, so the goal becomes scattering it, swapping it and routing parts of it through privacy tools until the trail goes cold.

Spreading value across roughly 530 addresses and seven chains fits that playbook. So does routing part of it through a privacy coin.

What this means For stablecoin issuers, Tether’s $10 million freeze shows a different kind of leverage. With about three-quarters of the stolen value sitting in USDT on Tron, a centrally issued token gave investigators a choke point that a decentralized asset would not.

For investigators, the case reinforces that metadata often matters more than encryption. Fee funding, timing and amount patterns can link addresses even when the transactions themselves are hidden.

The remaining questions are practical ones. How much of the roughly $103.4 million can actually be recovered, and whether the identified ETH and BTC holdings can be frozen or seized, will determine whether this tracing work turns into money back in victims’ pockets.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.

Source: Binance EN

This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Starting at approximately 2026-10-19 11:59 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Filecoin (FIL) network to support its network upgrade and hard fork to ensure the best user experience. The network upgrade and hard fork will take place at the block height of 6,470,279, or approximately at 2026-10-19 12:59 (UTC). Please note: The trading of token(s) on the aforementioned network will not be impacted.Binance will handle all technical requirements involved for all users.Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. For more information, please refer to the announcement from the project team. Thank you for your support! Binance Team 2026-10-15

Internet Computer (ICP) has launched ckSOL, a token backed 1:1 by Solana's SOL, letting ICP DeFi apps hold SOL alongside Bitcoin and Ether without a bridge company.

Internet Computer (@dfinity) has launched ckSOL, its official token backed 1:1 by $SOL. The SOL sits in Solana addresses controlled by ICP's nodes, which sign together without any one holding the full key.

DeFi apps on ICP can now hold SOL next to $BTC, $ETH and $ICP. The launch completes Solana support, which first reached ICP developers in mid-2025.

How ckSOL worksckSOL is the chain-key token representing SOL on the Internet Computer. According to the ICP developer documentation, it is backed 1:1 by SOL held in a canister-controlled Solana address, in the same way as ckETH. A minter canister monitors Solana deposits and mints ckSOL tokens that follow the ICRC-1 and ICRC-2 standards. To withdraw, a user burns ckSOL, and the system signs a Solana transfer using chain-key Ed25519 signatures.

The signing is spread across the network. The same documentation says each canister can have its own Solana wallet address, with signing performed collectively by subnet nodes without reconstructing the private key.

Governance approval came first. Solana Compass reported that the ckSOL minter, ledger and index were installed by a vote of the Network Nervous System, ICP's on-chain governance system, on 12 October 2026. It added that SOL deposited with the minter stays in the minter's Solana addresses until it is withdrawn, so activity is visible on Solana. For holders, the outlet described ckSOL as a route into ICP DeFi apps as they add support, with a canister acting as custodian instead of a bridge company.

Building on mid-2025 Solana supportICP's Solana work began with reading and writing to the network. The Defiant published DFINITY's June 2025 announcement of the integration, which let ICP canister smart contracts interact with Bitcoin, Ethereum and Solana. At that stage there was no SOL-backed token. A DFINITY engineer said on the developer forum in 2025 that there was no plan at the time for a ckSOL, so dapps would need to handle that themselves.

ckSOL follows the pattern of ckBTC and ckETH. DFINITY's code repository describes it as modeled after ckETH, and notes that the minter remains under active development and subject to change.

The practical effect is that SOL can now be used inside ICP applications without a separate bridge operator. Whether developers adopt it will depend on how quickly DeFi apps on ICP add ckSOL support.

SourcesInternet Computer docs: Solana integration
Solana Compass: ckSOL goes live
The Defiant: DFINITY announces Solana integration

Samsung is putting a stablecoin in the same app where people keep their boarding passes. On October 7, 2026, Samsung Electronics said its Wallet and Pay apps will support USDC transfers on the Solana blockchain for eligible US users.

The rollout is scheduled for the last week of October. It covers 82 million compatible Galaxy devices.

How the Samsung Wallet USDC feature works
USDC is a stablecoin, a digital token designed to track the US dollar one for one.

Inside Samsung Wallet, eligible users will be able to send USDC to external wallets that accept it. They can also convert it into local currency and deposit it into bank accounts in more than 60 countries.

Samsung says it will not charge a fee for sending USDC to external wallets. That is not the same as free, though. Network fees or fees on the recipient’s side may still apply.

Access comes with guardrails. The service is limited to US residents who are 18 or older. Users must pass identity verification and confirm transactions with biometric authentication.

The feature requires a compatible device running Android 13 or later.

The partners behind the curtain
Samsung is not building the plumbing alone. Solana provides the blockchain infrastructure that moves the tokens, while Bastion supplies a licensed stablecoin framework for the payment service.

Coinbase serves as sub-custodian of the USDC. A custodian is the party that actually holds the assets, so Coinbase handles safekeeping while Samsung owns the front end.

Sui is also listed as a supporting blockchain partner. Solana, however, is the chain named for the USDC transfers at launch.

Solana’s stablecoin numbers
The deal lands as Solana’s stablecoin business has been expanding. Stablecoin supply on the network grew by nearly 20% year over year.

Solana processed more than $5.25 trillion in stablecoin transaction volume in 2026. Its stablecoin supply also hit a record $17.51 billion in September 2026.

The announcement did not come out of nowhere. In July 2026, Samsung teased that stablecoin features were coming but did not reveal which blockchain or which issuer it would use.

That left about three months of speculation. The October reveal answered both questions: USDC as the stablecoin and Solana as the rails.

The news has also fed bullish commentary. A Motley Fool contributor pointed to the integration in a piece titled “Here’s Why I’m Buying Solana Right Now.”

What this means for Solana, USDC, and payments
The most important number here is 82 million. Crypto companies have spent years trying to coax consumers into downloading new apps and opening new accounts. Samsung is skipping that step by putting stablecoin transfers into software already installed on its phones.

Cross-border transfers look like the clearest use case. The ability to cash out into local bank accounts in more than 60 countries targets that pain point directly.

The service is US-only at launch, and expansion to other markets depends on local regulations.

The eligibility rules will also narrow the audience. Not all 82 million device owners will be adults who pass identity checks, run Android 13 or later, and actually want to send stablecoins.

Samsung waiving its own charge is helpful, but users may still see network or recipient-side costs.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

SummaryMeta Platforms is rated Hold, with a 12-month target of $760, reflecting fair value at ~22x 2027 EPS.Ad revenue surged 28% in Q2 2026, but free cash flow has nearly vanished due to heavy AI capex.META faces a ~$10B Q3 legal charge, uncertain 2027 capex guidance, and no Q2 buybacks, raising cash return concerns.Muse's rapid launch is promising, but monetization and material revenue contribution remain unproven at current scale. Kira-Yan/iStock Editorial via Getty Images

I rate Meta Platforms (META) a Hold. On October 13, 2026, the stock closed at ~$763. There are ~2.55 billion shares in circulation, with a market cap of ~$1.94 trillion.

Meta's advertising business has

126 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

Arbitrum, a leading Ethereum layer 2 scaling solution, has seen rapid growth in its real-world asset (RWA) market, strengthening its presence in the tokenized finance sector. However, recent weakness in technical indicators has left the ARB token under pressure, delaying a potential price recovery.

Growth in Real-World Asset TokenizationThe official Arbitrum X account reported over $1.2 billion in tokenized assets on the Arbitrum One network. This figure includes $922 million allocated to funds, $191 million to stocks, and $84.3 million to commodities. Arbitrum stated that the project remains at an early stage and intends to bring more traditional assets into the programmable economy.

With trillions in traditional assets still to bring into the programmable economy, the work is just getting started, according to Arbitrum’s team.

Despite robust growth in RWA activity, the expansion has not translated into immediate demand or price appreciation for the ARB token. Analysts note that broader adoption of tokenization does not automatically drive up ARB prices in the short term.

Mini dictionary: Real-world asset (RWA) tokenization refers to converting traditional assets such as funds, stocks, and commodities into digital tokens on the blockchain, making them easier to trade and manage on decentralized platforms.

Asset TypeTokenized ValueFunds$922 millionStocks$191 millionCommodities$84.3 millionTotal$1.2 billionPrice Levels and Market MomentumAt publication time, ARB trades at $0.1825, marking a 4.6% decrease over the past 24 hours. The token remains below a key resistance level at $0.2003, while traders are eyeing support at $0.1722 to gauge the likelihood of further losses or a reversal.

ARB previously climbed above $0.23 in September but has pulled back since then. The Relative Strength Index (RSI) currently stands at 47.63, below its average of 51.77, indicating weakening bullish momentum. A move above an RSI of 50 could signal renewed buying interest but would not alone confirm a recovery.

The token remains above its 50-day moving average at $0.1161 and its 200-day average at $0.1722. Technical analysts view the 200-day level as critical support; a sustained breakdown below this could accelerate selling pressure and undermine the ongoing recovery effort.

Price LevelStatus$0.2003Resistance (not broken)$0.1825Current Price$0.1722Key Support$0.1586Next Support (if breached)CoinGlass data indicates that open interest in ARB futures surged above $300 million in September, then pulled back but remains notably higher than August levels. Meanwhile, trading volume has eased since September highs, suggesting reduced market participation. Elevated open interest can intensify price swings as leveraged traders adjust positions, but it does not clarify whether bulls or bears dominate at present.

Potential for a Price RecoveryFor ARB to mount a sustained recovery, technical confirmation is needed. A move above $0.2003, coupled with higher trading volume and a rising RSI, would bolster optimism among traders. Target ranges in case of a breakout include $0.22 to $0.23, which matches the September trading corridor.

If ARB price slips below the $0.1722 support level, market participants may focus on $0.1586 as the next line of defense. The evolving balance between network adoption through RWA integration and actual token demand will continue to shape sentiment among ARB traders.

Crypto markets remain unpredictable, and analysts urge investors to track price action, sentiment shifts, and potential catalysts closely before taking positions.

Despite significant growth in tokenized assets on Arbitrum, technical momentum remains weak and price recovery will likely require stronger signals, especially a breakout above resistance levels and increasing trading volumes.

Boards of directors matter. They are responsible for defending shareholders' interests and helping set the company's strategic direction and capital allocation, electing its management, and lending their experience and expertise to steer the company in the right direction. These are incredibly important aspects for a company like Boeing (BA -0.98%) right now, and the good news is the board looks significantly stronger than it did a few years ago.

Boeing's board changes
One useful way to assess the changes is to consider the board when the previous CEO, David Calhoun, was appointed and compare it with the board when the current CEO, Kelly Ortberg, took over.

Boeing Board That Elected Calhoun

Current Boeing Board

Lawrence W. Kellner, former CEO of Continental Airlines

Steven M. Mollenkopf, former chief executive of Qualcomm

David L. Calhoun, a 26-year General Electric veteran, including running GE Aircraft Engines

Robert K. "Kelly" Ortberg, president and chief executive, former chief executive of Rockwell Collins

Robert A. Bradway, CEO of Amgen

Robert A. Bradway, CEO of Amgen

Arthur D. Collins Jr., former CEO of Medtronic

Akhil Johri, former chief financial officer of United Technologies

Edmund P. Giambastiani Jr., former vice chairman of the Joint Chiefs

David L. Joyce, former chief executive of GE Aviation

John M. Richardson, former chief of naval operations

John M. Richardson, former chief of naval operations

Lynn J. Good, CEO of Duke Energy

Lynn J. Good, CEO of Duke Energy

Nikki R. Haley, former U.N. ambassador

Lynne M. Doughtie, former U.S. chairman and chief executive of KPMG

Caroline B. Kennedy, former ambassador to Japan

David L. Gitlin, chairman and chief executive of Carrier

Susan C. Schwab, former U.S. trade representative

Bradley D. Tilden, former chief executive of Alaska Air Group

Edward M. Liddy. Chairman and chief executive of Allstate.

Stayce D. Harris, retired United Airlines pilot and Air Force lieutenant general

Mike S. Zafirovski. Former chief executive of Nortel and former president and chief operating officer of Motorola.

Mortimer J. "Tim" Buckley, former chief executive of Vanguard

Dennis A. Muilenburg, outgoing chief executive.

N/A

Ronald Williams, former chairman and CEO of Aetna

N/A

Data source: Boeing filings.

In comparing the boards that elected Calhoun with its current makeup, there's a significant shift in directors with deep aviation experience. In particular, it's not immediately clear what deep aviation expertise Nikki Haley, Caroline Kennedy, Susan Schwab, Ronald Williams, and Arthur Collins possessed at the time. Richardson, Good, and Bradway remain on the board today.

Premium Feature

Moneyball Superscore

47/100

Today's Change

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-0.98

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A board with deep aviation expertise
Four standout names on the current board should give investors considerable confidence. David Tilden formerly ran an air carrier. David Joyce is a vastly experienced aviation executive who retired as CEO of GE Aviation (the company that preceded GE Aerospace) in 2020. Akhil Johri is a vastly experienced aerospace executive who was formerly the CFO of United Technologies (the company that gave birth to the aerospace and defense giant RTX). David Gitlin is a former president of two United Technologies' aerospace businesses, Collins Aerospace and UTC Aerospace.

Image source: Boeing.

Why it matters for Boeing
Industry experience is crucial for Boeing because, as Ortberg noted on his first earnings call as CEO in October 2024, "we need to develop a new airplane, but we have a lot of work to do before them," including "restoring the balance sheet so that we do have a path to the next commercial aircraft."

It's no small task as its debt has ballooned and free cash flow has collapsed in recent years. The key point is that the usual cycle of the current generation narrow-body, in this case the 737 MAX, generating the cash flow to fund the development of the next generation narrow-body, has been severely disrupted by the high-profile crashes, groundings, and production ramp issues on the 737 MAX.

BA Financial Debt (Quarterly) data by YCharts

These issues remain apparent, as Ortberg recently told investors that Boeing needs "a couple more years" before it can commit to a new airplane.

It still has a $715 billion backlog and many years' worth of orders to deliver. As such, Boeing's board has a key role in ensuring that the overall strategy, business plan, capital structure, oversight, and capital allocation are on the right track. The good news is the board has plenty of experience to help Ortberg get there, and it's a weapon in the company's arsenal as its executive management engineers a long-term turnaround.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amgen, Boeing, GE Aerospace, Medtronic, and RTX. The Motley Fool recommends Duke Energy. The Motley Fool has a disclosure policy.

IREN Limited's AI Pivot Gains Traction—But Can Its Data Centers Deliver?NioCorp Developments NASDAQ: NB hosted federal and state officials at its Elk Creek Critical Minerals Mine and Processing Facility site in Nebraska, where company leaders and policymakers emphasized the project’s potential role in building domestic supplies of minerals used in defense, aerospace, manufacturing and electronics.

The event included a signing ceremony involving NioCorp and the Export-Import Bank of the United States, or EXIM. Nebraska Sen. Deb Fischer said the signing marked “another important step” as NioCorp continues the federal financing review process, though speakers did not provide details on the document being signed.

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China Still Dominates Rare Earths—These 3 U.S. Companies Could BenefitMark Smith, NioCorp’s chairman and chief executive officer, said the Elk Creek operation is planned to produce eight critical-mineral products from a single domestic source. He identified niobium, scandium, titanium and rare earth elements, including dysprosium and terbium, among the materials the company expects to produce and process in Nebraska.

Smith said the facility is designed to take minerals “from mine to finished product” rather than sending materials overseas for processing. He said the company expects the project to support about 1,200 construction jobs and roughly 500 permanent skilled jobs over an anticipated 40-year mine life.

Focus on Supply-Chain Security
The AI Buildout Needs Power It Cannot Get: 4 Energy Stocks Already Have ItSpeakers repeatedly framed the project as part of a broader effort to reduce U.S. reliance on foreign sources of critical minerals and mineral processing. Smith said the U.S. imports all of the niobium and scandium it uses, more than 85% of its titanium requirements, and virtually all of several rare earth elements.

Fischer said critical minerals are used in consumer electronics, advanced manufacturing and military equipment, while foreign dependence creates risks for both the economy and national security. She said she helped secure a $10 million federal investment in domestic aluminum-scandium alloy production, which she said is planned for Elk Creek.

“NioCorp is also working to develop a domestic source of the niobium and titanium, among other rare earth elements,” Fischer said. “These minerals are essential to our defense industrial base, our aerospace industry, and American manufacturing.”

Sen. Pete Ricketts said China processes more than 80% of certain critical minerals, even where it does not mine them. He described domestic mining and processing of niobium, scandium, titanium and magnetic rare earths as important to securing defense supply chains.

Ricketts also cited potential uses for niobium in armored vehicles, naval vessels, drones and jet-engine turbines, and said scandium is used in aerospace and defense materials. He called the Elk Creek project a “win-win-win” for the local community, Nebraska and U.S. national defense.

Federal Officials Cite Strategic Importance
U.S. Energy Secretary Chris Wright said the Trump administration views access to critical minerals as a strategic national-security concern. He said China had altered the terms under which it would supply critical minerals to the United States, creating a need to accelerate development of domestic alternatives.

Wright said long mine-development timelines remain a challenge, noting that the average time from mineral discovery to a U.S. mine being built is 29 years. He argued that the United States needs to remove barriers and mobilize capital to develop domestic supply chains.

“It is imperative for our national security,” Wright said of efforts to develop domestic mineral production. “We are here addressing a strategic concern.”

EXIM Chairman John Jovanovic said the bank’s role is to help level the playing field for U.S. companies in markets he described as neither free nor fair. He said EXIM aims to support American capital, engineers, innovation and companies operating in strategically important sectors.

Jovanovic thanked NioCorp’s partners, including JPMorgan, Traxys and Lockheed Martin, and said projects such as Elk Creek could support well-paying jobs while strengthening supply-chain and economic security.

Nebraska Leaders Highlight Local Impact
Nebraska Gov. Jim Pillen credited NioCorp and local supporters for years of work on the project and called the deposit an important opportunity for the state. Rep. Adrian Smith said the project could broaden the regional tax base and create economic opportunity, while noting that it remains in its early stages despite years of permitting work.

NioCorp’s Mark Smith said the project represents billions of dollars of potential investment over its operating life and could reshape economic opportunities in Johnson County and surrounding communities.

About NioCorp Developments (NASDAQ:NB)NioCorp Developments Ltd. is a U.S.-focused critical minerals company advancing the Elk Creek Critical Minerals Project in southeast Nebraska. The project is designed to produce niobium, scandium and titanium, with the potential to recover several rare earth elements, including neodymium, praseodymium, terbium and dysprosium.

NioCorp's planned products are intended for use in applications such as high-strength steel, aerospace and defense systems, electric vehicles, permanent magnets, and other advanced technologies.

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

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