SpaceX se oceňuje na 49násobek očekávaných letošních tržeb a 19násobek tržeb očekávaných v příštím roce. Vysoké kapitálové výdaje mohou zhoršit ocenění společnosti.
On the surface, Space Exploration Technologies (SPCX -2.80%) looks like it is trading at a stratospheric valuation. However, valuations, especially for a stock like SpaceX, aren't always straightforward, and CEO Elon Musk has said the company could be worth more than the Earth's economy.
Let's look at the valuation case for and against the AI stock.
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The case that SpaceX stock is cheap
While SpaceX stock does not look cheap on the surface, it could look very inexpensive in a few years. Musk has projected that the company could generate $1 trillion in revenue by 2030 and $3.5 trillion by 2033, a staggering amount. That is also well above the current 2030 revenue consensus of $427.1 billion and the 2033 consensus of $1.54 trillion.
While $1 trillion in revenue by 2030 is a huge number, the company can achieve that lofty goal. The company's biggest growth driver in the coming years will be its AI infrastructure business, which is all about access to AI chips and the funding to support these build-outs. This is where SpaceX has a big advantage.
The company has formed a very close relationship with Nvidia, which should give it increasingly more access to its graphics processing units (GPUs). If SpaceX can also get its Terafab joint venture off the ground, it will give it a decided advantage in procuring chips and memory. Musk also holds a lot of clout, and given the company's over $2 trillion valuation, SpaceX should easily be able to raise the funds to support such a build-out through both debt and equity.
On top of that, SpaceX should see strong growth from Starlink, its launch business, and AI coding following its acquisition of Cursor. After acquiring spectrum from Grain Management, SpaceX also appears poised to become more involved in the U.S. mobile market, which is worth more than $350 billion. Meanwhile, its planned $100 billion Starbase Louisiana could lead to a much more aggressive launch schedule in the future.
If SpaceX can get anywhere close to $1 trillion in revenue by 2030, the stock will look undervalued. Tesla has always traded at a premium due to Musk, and the same should be expected for SpaceX. Place a 10 times price-to-sales (P/S) multiple on SpaceX, and it could be a $10 trillion stock in several years, nearly 5 times what it is worth today.
Image source: The Motley Fool.
The case that SpaceX is trading at an expensive valuation is a bit more straightforward. The company generated only $18.7 billion in revenue last year, and the current analyst consensus for this year is $45.4 billion. That's light-years away from $1 trillion in revenue.
Meanwhile, while AI infrastructure will be a major driver of SpaceX's revenue, it also comes at a high cost, requiring substantial upfront capital to build data centers. Right now, the company is getting a very short payback on its investments (about one year on chips and networking) because it is doing short-term leases in a compute-constrained environment. However, as compute capacity grows, these favorable economics may not last.
Pushing into the mobile market also would have to be accompanied by a large capital expenditure (capex) outlay, as would its space venture. While SpaceX has a significant revenue opportunity ahead, it's going to have to spend an enormous amount of money to capture it. Added debt and an increased share count from equity raises could lead to a lower share price than it might otherwise achieve if it were a capex-light business.
Given this, the stock looks pricey, trading at a forward P/S multiple of 49 times this year's estimates and 19 times next year's. Notably, this is not a capex-light, high-gross-margin recurring-revenue business model like Palantir. You can much more easily justify that type of multiple with those businesses than one like SpaceX's that requires so much future capex.
It's also worth noting that Musk has a pretty spotty track record with the timing of his predictions, often being many, many years off.
Rewind to 2019 when Tesla (TSLA -2.15%) broke ground on its Giga Shanghai. Musk made it pretty clear at the time the factory was to produce more affordable versions of the Model 3 and Y for China. Sometime later, Tesla's CEO added, "Affordable cars must be made on same continent as customers." Things haven't quite gone according to plan thanks to China's domestic automakers rapidly developing their electric vehicle (EV) technology and a brutal price war that has forced all automakers to go back to the drawing board. Despite the change of plans, Tesla's exports from China are surging, and it's absolutely the right move. But there are a couple of things for investors to know.
The right call, right?
Fast-forward to today. Tesla sold 381,088 vehicles in China through the first three quarters of 2026, a nearly 12% decline from the prior year, according to data from the CPCA. In a flip-flop of growth, however, Tesla's exports from Giga Shanghai have more than doubled to 361,972 vehicles, nearly matching its domestic sales in the country. Through September, Tesla's exports as a share of wholesale jumped 2,000 basis points, or 20 percentage points, to 49%. Thanks to growth in Tesla's exports, even amid the brutal domestic Chinese automotive market, Tesla China's total wholesale volume jumped nearly 23% to 743,060 compared to the prior year.
To be fair, while the explosive exports growth is just what the doctor ordered for Tesla in China, it's also the lowest domestic retail sales through the first nine months the EV maker has posted over the past four years. This also isn't just a Tesla problem, and the pain has been felt across the board with more and more Chinese brands racing to leave the market and expand overseas, especially as hybrids can avoid some of the tariffs Europe set for Chinese EVs.
Image source: Tesla.
Making things a little awkward for everyone involved is that Beijing recently announced it will cut the tax rebate on EV exports next year. China's Ministry of Finance and State Taxation Administration announced the export rebate on new energy vehicles (NEVs), which include full EVs as well as plug-in hybrids, will drop from 13% to 9% on April 1, 2027, essentially making every Tesla export 4% less valuable to the company. A rebate cut of 4% might not sound alarming, but it will either equate to Tesla eating hundreds of millions of dollars or passing on price increases to its destination market.
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It might depend on whether you're a glass half-full investor or a glass half-empty investor. On one hand, Tesla has absolutely salvaged its Giga Shanghai production capacity and wholesale numbers. On the other hand, its actual business in China's market is still hurting. It's an important distinction for investors because while China's domestic auto market is in decline this year, it's also fair to say that Tesla is struggling to keep up with the accelerated vehicle launches by China's automakers, which have roughly halved the development time for a new vehicle.
For investors, this is what you can likely expect going forward. Because the rebate cut rate depends on the customs declaration date, it would make sense for Tesla to ship as many vehicles as possible from Giga Shanghai during the fourth quarter and the first quarter of 2027. That should mean two more solid quarters of wholesale Tesla China numbers before the realization hits that the year-over-year comparisons will likely look ugly for a while, and Tesla will find itself in a tough spot between raising prices overseas where Chinese brands are already undercutting on price, reduce production capacity in China, which hurts profitability, or continue with the status quo and just eat the margin loss from the rebate cut.
Akcie Coca-Cola uzavřely poslední seanci na 91,78 USD, což představuje růst o 1,85 %. Výsledky za čtvrtletí společnost zveřejní 27. října 2026; konsensus očekává EPS ve výši 0,87 USD a tržby 12,93 mld. USD.
Coca-Cola (KO - Free Report) closed the most recent trading day at $91.78, moving +1.85% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.11%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 1.88%.
Shares of the world's largest beverage maker have appreciated by 1.58% over the course of the past month, outperforming the Consumer Staples sector's loss of 0.28%, and lagging the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of Coca-Cola in its upcoming earnings disclosure. The company's earnings report is set to go public on October 27, 2026. The company's earnings per share (EPS) are projected to be $0.87, reflecting a 6.1% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $12.93 billion, reflecting a 4.15% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.3 per share and a revenue of $49.82 billion, representing changes of +10% and +4.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Coca-Cola. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Coca-Cola is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Coca-Cola is currently being traded at a Forward P/E ratio of 27.34. This valuation marks a premium compared to its industry average Forward P/E of 18.27.
One should further note that KO currently holds a PEG ratio of 3.51. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Beverages - Soft drinks industry was having an average PEG ratio of 2.02.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Shares of Nvidia (NVDA -3.16%) hit another record on Tuesday, Oct. 6, closing at $239.24. If history's any guide, the October-to-December quarter has usually been a good one for the artificial intelligence (AI) chip giant's stock.
Measured from the end of September to the end of December, Nvidia's shares rose in 20 of the 27 years from 1999 through 2025. The median change for all 27 fourth quarters was a gain of around 14%.
But the record comes with two caveats. Nvidia's stock has climbed in most quarters during this stretch, not just the last one of the year. From 2000 through 2025, for example, it also gained in 20 of 26 first quarters.
And two of the seven fourth quarters that went wrong cost shareholders over half their money.
I think the calendar matters much less here than the report Nvidia puts out in the middle of it.
Jensen Huang. Image source: Nvidia.
A report in the middleNvidia's fiscal year ends in late January, so its fiscal third quarter closes in late October. The report for that period tends to come in mid-to-late November, about halfway through the calendar fourth quarter.
That report also gives management's revenue outlook for the fiscal fourth quarter, which runs roughly from November through January.
Sure, even a great report doesn't promise a good quarter. Nvidia's fiscal third-quarter 2026 results, released Nov. 19, 2025, showed revenue up 62% year over year to $57.0 billion. Management also guided for $65.0 billion in the next quarter.
The stock dropped around 3% a day later. It closed the fourth quarter down 0.04% -- a paper-thin loss in a quarter when the Nasdaq Composite (^IXIC -1.88%) gained around 3%.
What happens when the pattern breaks?Nvidia's two worst fourth quarters broke the pattern for very different reasons. In 2000, the stock lost 60% as the dot-com crash pulled down tech stocks broadly. The Nasdaq Composite slid by around a third during the same three months. But Nvidia's shares were back above their late-September 2000 price by April 2001.
The 2018 decline was mainly Nvidia's own problem, and the November report made it far worse. By report day, shares had already fallen about 28% from their late-September close.
For the three months ended Oct. 28, 2018 (Nvidia's fiscal third quarter of 2019), revenue grew 21% year over year to $3.18 billion. But management forecast fiscal fourth-quarter revenue of $2.70 billion, around 15% below what the company had just reported.
"Our near-term results reflect excess channel inventory post the cryptocurrency boom, which will be corrected," CEO Jensen Huang said in the earnings release.
Put simply, too many of Nvidia's chips sat unsold with distributors and retailers after demand from cryptocurrency miners cooled. Shares fell about 19% the day after the report and ended the quarter down 52%, versus a loss of about 18% for the Nasdaq. They didn't climb back above their late-September 2018 close till February 2020.
Notably, most of Nvidia's down fourth quarters lined up with a falling market. The Nasdaq fell in five of the seven. Only in 2020 and last year did Nvidia's shares drop while the index gained.
This year's bar is higherNvidia's business now looks nothing like it did in late 2018. For its fiscal second quarter of 2027 (which ended on July 26, 2026), revenue more than doubled, climbing 106% year over year to $96.2 billion. Management's forecast calls for $108.0 billion in fiscal Q3, plus or minus 2%.
That's the bar the fiscal third-quarter report needs to clear. Meeting the guide would mean growth of about 89% from the $57.0 billion Nvidia reported a year earlier, a step down from 106%. The forecast for the following quarter could matter even more to the stock than the quarter itself.
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Nvidia's shares sell for around 15 times the consensus earnings estimate for fiscal 2028 (the year ending January 2028). Broadcom, another AI chipmaker, costs about 19 times its consensus earnings estimate for its next fiscal year.
True, a price-to-earnings ratio is only as good as the estimates behind it. But at that price, Nvidia's shares could arguably weather a weaker report than the past few.
So, does the calendar make Nvidia stock a buy right now? Not on its own. Twenty up years out of 27 mainly reflect a stock that's climbed in most quarters, whatever the season. And the worst years that broke the pattern saw a falling market, a weak forecast from Nvidia, or both.
At today's price, I'd consider buying shares for the growth Nvidia is delivering. The fourth quarter's history doesn't do much for that case.
UPS může ve třetím čtvrtletí kvůli vysokým nákladům na palivo, konkurenci Amazonu a 7% meziročnímu poklesu poptávky v e-commerce v květnu 2026 nesplnit odhady zisku.
There's no such thing as a free lunch, and there's no such thing as a blue chip stock like UPS (UPS +1.04%) yielding 7% without containing a significant amount of risk.
Quite clearly, the market is concerned with the sustainability of the dividend and rightly so, not least as there are reasons to suspect the company could miss its earnings expectations in the quarter and for 2026. Still, even in that case, UPS stock might be a good value.
Why UPS might miss estimates
The doubt around its earnings comes down to three main factors:
Ongoing elevated fuel costs could pressure profit margins at a company that has raised fuel surcharges over and above its fuel cost increases over the last year or so.
Potential competition from Amazon (AMZN -1.74%) could negatively impact UPS's volume or pricing.
Global e-commerce trends don't appear to be favorable to UPS right now.
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Fuel surcharges, Amazon, and delivery volumes
I previously discussed how UPS raised fuel surcharges by a combined $1.173 billion in the first half of 2026, compared to a combined increase in fuel costs and third-party fuel of $744 million, resulting in a net difference of $429 million.
There are other operating costs associated with fuel supply disruptions, so it's probably unfair to argue that the $429 million drops down into the profit line. Still, it's a large number, and given the ongoing high fuel costs, UPS could struggle to pass through fuel surcharges without taking a hit to volume.
Amazon Supply Chain Services was only launched this year, so it might be a bit premature to expect a direct impact on UPS volumes. However, if Amazon is pricing aggressively to win small and medium-sized business (SMB) deliveries from customers it already has in its Amazon marketplace, UPS could increase pricing in one of its core end markets in the U.S.
Image source: Getty Images.
Finally, UPS's recent Global Freight Transportation and Logistics Trends report for the third quarter noted, "While AI-driven demand continued to support the air freight sector, e-commerce demand declined 7% YOY in May 2026, marking its sixth consecutive month of contraction."
The AI-driven demand is probably good news for UPS's premium international and supply chain businesses. Still, the weakness in e-commerce deliveries (partly driven by tariff actions that have made Chinese imports uncompetitive) is not.
Why UPS might still be a good value
Don't be surprised if UPS misses earnings estimates in the third quarter. Moreover, its already lightly covered dividend (Wall Street expects $7.20 in earnings per share in 2026, with the dividend per share $6.56) might even come under threat. That said, Delta Air Lines recently missed estimates and cut full-year guidance due to higher fuel expense expectations, and the stock's modest decline suggests the market was somewhat braced for it.
That might also be the case for UPS. If so, it sets the stock up for a recovery if UPS can merely meet expectations and maintain its dividend. My view is that it won't, and it might make sense to wait for the earnings report first before considering buying the stock.
Palantir Technologies Inc. (PLTR - Free Report) closed at $200.97 in the latest trading session, marking a -3.69% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 1.88%.
The stock of company has risen by 20.93% in the past month, leading the Computer and Technology sector's gain of 3.49% and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of Palantir Technologies Inc. in its upcoming release. The company plans to announce its earnings on November 2, 2026. The company's earnings per share (EPS) are projected to be $0.42, reflecting a 100% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.17 billion, reflecting a 83.95% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.64 per share and revenue of $8.23 billion. These totals would mark changes of +118.67% and +83.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.35% higher. As of now, Palantir Technologies Inc. holds a Zacks Rank of #3 (Hold).
With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 127.52. This indicates a premium in contrast to its industry's Forward P/E of 20.8.
Also, we should mention that PLTR has a PEG ratio of 2.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.19 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Akcie State Street při otevření trhu 14. října 2026 klesly o 7 % poté, co tržby za třetí čtvrtletí ve výši 4,00 mld. USD zaostaly za očekáváním ve výši 4,03 mld. USD.
State Street shares fell approximately 7% by market open on October 14, 2026, after third-quarter revenue of $4.00 billion came in below the roughly $4.03 billion Wall Street expected. An investigation into potential securities law violations has been opened.
, /PRNewswire/ -- Investors in State Street Corporation (NYSE: STT) watched their shares drop approximately 7% on October 14, 2026, after the Company reported third-quarter revenue of $4.00 billion, short of the roughly $4.03 billion analysts expected. If STT shares in your account lost value on the report, act now. Shareholders who lost money on State Street are encouraged to submit their losses for review today. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.
Analysts had projected third-quarter revenue of roughly $4.03 billion. State Street reported approximately $4.00 billion -- a shortfall of about $30 million to $60 million against the consensus range. Fee revenue of approximately $3.14 billion particularly fell shy of the estimated $3.18 billion analysts had projected.
SueWallSt notifies investors of a pending investigation into whether State Street may not have adequately disclosed fee-revenue trends to investors before the October 14 report. The investigation also concerns whether shareholders who bought STT may have claims for potential securities law violations.
If you bought State Street stock and are now holding a loss, talk to an attorney about your STT losses or call (888) SueWallSt.
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the STT Investigation
Q: Who is eligible to participate in the STT investigation?A: Investors who purchased STT stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: How much did STT stock drop?A: Shares opened at about $161.90 on October 14, 2026, a decline of approximately $12.20, or 7%, from its closing price on October 13, 2026. Investors who purchased shares at allegedly inflated prices and suffered losses may be eligible to seek compensation.
Q: Which statements are being investigated as potentially misleading?A: The investigation concerns statements made before the October 14, 2026 third-quarter disclosure. The firm is examining whether those statements caused investors to purchase State Street securities at inflated prices.
Q: What do STT investors need to do right now?A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my STT shares? Can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought STT and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate?A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
Q: What if I live outside the United States?A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
Mr. He Xiaopeng, Chairman & CEO, becomes the first Chinese automotive CEO to deliver a keynote in the history of the Paris Automotive Summit, calling for greater industry collaboration as AI, electrification and globalization reshapes the automotive sector.
Mr. He Xiaopeng introduced XPENG AI Engineering, calling for open collaboration and opening XPENG's full-stack technologies and engineering capabilities to global partners, from vehicle platforms to Physical AI.
XPENG highlighted NGP which is aiming for global market expansion in 2027, alongside clear milestones for its humanoid robot, IRON, targeting mass production in late 2026, initial deliveries in H1 2027, and a European rollout in H2 2027.
, /PRNewswire/ -- Mr. He Xiaopeng, Chairman & CEO of XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today called for deeper collaboration across the global automotive industry, as he became the first Chinese automotive CEO to deliver a keynote in the history of the Paris Automotive Summit.
Speaking to automotive industry leaders in Paris, Mr. He outlined how AI, electrification and smart technologies are reshaping the automotive industry, creating new opportunities for technology collaboration across the sector.
The theme of his keynote speech was "Navigating the AI Era: Open Collaboration for a Smarter Future," where he outlined XPENG AI Engineering, XPENG's strategy to combine its Physical AI technology with deeper ecosystem partnerships across Europe and globally.
He emphasized that no single manufacturer holds all the advantages required for the next generation of smart mobility. To accelerate this transition, XPENG is opening its in-house tech stack and engineering resources to key international partners.
Open Technology Collaboration for the AI Era: XPENG AI Engineering
XPENG's approach to collaboration is rooted in its evolution as a Physical AI company, with full-stack technologies spanning chips, models and applications across intelligent vehicles, robotaxis, humanoid robots and flying cars. In intelligent driving, XPENG highlighted NGP powered by VLA 2.0, designed to advance directly from L2 to L4 and deliver the same core capability across China and Europe, as the company prepares to bring advanced intelligent driving to global markets in 2027.
XPENG is also advancing the commercialization of its humanoid robot, IRON, with mass production targeted for late 2026, deliveries beginning in the first half of 2027, and a European rollout planned for the second half of 2027.
As AI expands into the physical world, XPENG believes industry transformation will be driven both from within and beyond automotive. To usher in this new era, XPENG is opening its proprietary technologies and engineering toolchains to global partners - spanning vehicle platforms, E/E architecture, batteries, e-drives, and modular innovations like the AI BOX, Turing AI chip, and Turing physical world foundation model.
Through XPENG AI Engineering, the company is pursuing a model built around complementary strengths, flexible collaboration and independent innovation, enabling partners to co-develop differentiated products while building their own technology capabilities over time.
As a proven example of this mutually beneficial approach, Mr. He highlighted XPENG's strategic collaboration with Volkswagen Group, which brings together XPENG's intelligent-driving and software capabilities with Volkswagen's vehicle engineering and testing expertise.
This latest development builds on XPENG's continued investment in technology and talent. In the first half of 2026, XPENG invested approximately €770 million in R&D.
"Partnership starts with trust, and after trust comes openness," said Mr. He. "We welcome global partners to work with us, learn from each other and bring our strengths together. To bring technology to life and build the future together."
In Europe, For Europe, With Europe
Mr. He also reinforced XPENG's long-term "In Europe, For Europe, With Europe" commitment, centered on producing in Europe, designing for European users and partnering with the region's industrial ecosystem.
XPENG has put four models into production in Europe within one year, including the G6, G9, P7+ and the latest G9L. Its European R&D center serves as a hub for EU homologation and certification, language and interaction localization, intelligent-driving validation, European chassis and handling tuning, and charging-network integration.
XPENG continues to deepen collaboration across Europe's automotive and technology ecosystem, working with local partners as it expands its capabilities in the region.
ENDS
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation powers an expansive product portfolio of smart EVs, robotaxis and humanoid robots, advancing the deployment of Physical AI at scale.
Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer and better for users worldwide.
For more information, please visit https://www.xpeng.com/.
In the latest close session, Applied Materials (AMAT - Free Report) was down 3.79% at $446.63. The stock's change was less than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 1.88%.
Shares of the maker of chipmaking equipment have appreciated by 10.23% over the course of the past month, outperforming the Computer and Technology sector's gain of 3.49%, and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Applied Materials in its upcoming release. The company is slated to reveal its earnings on November 12, 2026. The company is forecasted to report an EPS of $4.06, showcasing a 87.1% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $10.3 billion, showing a 51.4% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $12.79 per share and a revenue of $34.25 billion, signifying shifts of +35.77% and +20.72%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Applied Materials. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. As of now, Applied Materials holds a Zacks Rank of #2 (Buy).
From a valuation perspective, Applied Materials is currently exchanging hands at a Forward P/E ratio of 36.3. This signifies no noticeable deviation in comparison to the average Forward P/E of 36.3 for its industry.
It is also worth noting that AMAT currently has a PEG ratio of 1.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 1.19 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Rocket Lab odložil první start rakety Neutron, původně plánovaný na čtvrté čtvrtletí roku 2026, na rok 2027. Akcie RKLB ve středečním obchodování po uzavření trhu klesly o 8,52 %.
Rocket Lab Corp. (NASDAQ:RKLB) pushed the first launch of its Neutron rocket into 2027 on Wednesday, confirming a schedule setback after previously warning that a debut this year was becoming less likely.
The announcement leaves investors waiting longer for a rocket central to the company’s expansion into larger launch missions.
"Today we shared an update on Neutron’s development, including adjusting the schedule for flight one to 2027," Rocket Lab wrote on X.
RKLB stock is falling. See the chart and price action here. Warning Becomes a DelayThe update follows a shift in August, when Rocket Lab targeted getting Neutron to the launch pad in the fourth quarter rather than committing to launching during that period. The company had previously targeted an inaugural flight in the fourth quarter of 2026.
Reaching the launch pad and completing a maiden flight are distinct milestones in the development process.
"The window for an end-of-year launch is narrowing," CEO Peter Beck said in August, according to Reuters. Management was increasingly focused on preparing Neutron to support a faster cadence of missions after its debut.
Bigger Missions at StakeNeutron is a reusable, medium-lift rocket designed to help Rocket Lab compete for larger commercial satellite, civil-space and U.S. national-security missions. It also plays a role in the company’s own satellite plans.
Rocket Lab has been spending heavily on Neutron’s development, launch infrastructure and production preparations, while signing customers ahead of its debut. The revised timeline moves that first-flight milestone into next year, extending the wait for a demonstration of the new vehicle’s capabilities.
RKLB Stock Price Activity: Rocket Lab shares were down 8.52% at $54.60 during after-hours trading Wednesday, according to Benzinga Pro. The stock had already fallen 7.85% during the regular session to close at $59.18.
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CenterPoint Energy vyplatí 4. listopadu 2026 dodatečný úrok ve výši 5,39122 USD z dluhopisu ZENS se splatností v roce 2029 v souvislosti s fúzí společností Paramount Skydance a Warner Bros. Discovery.
HOUSTON--(BUSINESS WIRE)--CenterPoint Energy, Inc. (NYSE: CNP) has established October 21, 2026 as an Additional Interest Regular Record Date under the terms of its 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS). Additional Interest of $5.39122 per ZENS note will be paid on November 4, 2026 to holders of record of the ZENS as of the close of business on the Additional Interest Regular Record Date.
The payment of Additional Interest reflects cash distributed in respect of the Reference Shares attributable to one ZENS note in connection with the Paramount Skydance Corporation and Warner Bros. Discovery, Inc. merger, which closed on October 6, 2026. The Additional Interest of $5.39122 per ZENS note was calculated as the product of 0.173817 share of Warner Bros. Discovery, Inc. common stock per ZENS note and the $31.01666668 per share cash merger consideration paid to the holders of Warner Bros. Discovery, Inc. common stock.
After the closing of the Paramount Skydance Corporation and Warner Bros. Discovery, Inc. merger, the Reference Shares for each ZENS note consisted of 0.7185 share of AT&T Inc. common stock and 0.061382 share of Charter Communications, Inc. common stock.
Capitalized terms not otherwise defined in this press release have the meanings given to such terms in the indenture governing the ZENS.
About CenterPoint Energy, Inc.
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve nearly 7 million metered customers in Indiana, Minnesota and Texas. As of June 30, 2026, the Company owned approximately $48.3 billion in assets. With approximately 8,800 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “target,” “will,” “would” or other similar words are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the expected size and timing of the Additional Interest payment, are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events and other statements that are not historical facts are forward-looking statements that involve risks and uncertainties including market conditions and other factors discussed in CenterPoint Energy’s Form 10-K for the fiscal year ended December 31, 2025, CenterPoint Energy’s Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, and CenterPoint Energy’s other filings with the U.S. Securities and Exchange Commission (“SEC”). Each forward-looking statement contained in this news release speaks only as of the date of this release, and other than as required under applicable securities laws, CenterPoint Energy does not assume any duty to update or revise forward-looking statements.
Investors and others should note that CenterPoint Energy may announce material information using SEC filings and the Investor Relations page of its website, including press releases, public conference calls and webcasts. In the future, CenterPoint Energy will continue to use these channels to distribute material information about the company and to communicate important information about the company, key personnel, corporate initiatives, regulatory updates, and other matters. Information that CenterPoint Energy posts on its website could be deemed material; therefore, CenterPoint Energy encourages investors to review the information CenterPoint Energy posts on the Investor Relations page of its website.
Společnost Arrowhead Pharmaceuticals ve studii fáze I/II po úvodní dávce ARO-MAPT snížila hladinu proteinu tau v mozkomíšním moku zdravých dobrovolníků v průměru až o 73 %.
Want Diversified Upside in Biotechnology? Check out LABUArrowhead Pharmaceuticals NASDAQ: ARWR presented interim Phase I/II data for ARO-MAPT, an investigational small interfering RNA therapy designed to reduce tau protein expression in the central nervous system, alongside initial clinical results for its TRiM CNS delivery platform.
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The company said the platform uses a transferrin receptor 1-targeted Fab linked to an siRNA payload, with the goal of enabling subcutaneous administration and delivery across the blood-brain barrier. ARO-MAPT targets the MAPT gene, which produces tau, a protein implicated in Alzheimer’s disease and primary tauopathies including progressive supranuclear palsy, corticobasal degeneration and some forms of frontotemporal dementia.
Early healthy-volunteer data show tau reductions
James Hamilton, Arrowhead’s Head of R&D and Chief Medical Officer, said interim data from single-ascending-dose healthy-volunteer cohorts showed mean reductions in cerebrospinal fluid, or CSF, total tau of up to 73% following an initial loading dose. The largest individual reduction was up to 85%, he said.
Hamilton said the data showed evidence of a dose response, while placebo recipients showed no reductions in CSF tau. The company characterized the response as generally consistent across treated individuals.
Available safety findings supported continued dosing and further development, according to Hamilton. He said ARO-MAPT had been well tolerated to date, with no reported serious treatment-emergent adverse events, no neurobehavioral events such as confusion, and no persistent anemia.
The ongoing ARO-MAPT-SC-1001 study is designed to assess safety, pharmacokinetics and pharmacodynamic effects in healthy volunteers and people with early Alzheimer’s disease. Healthy-volunteer enrollment has been completed, while enrollment in Alzheimer’s patient cohorts is ongoing at sites in Canada, the U.K., Australia and New Zealand.
Arrowhead plans to provide additional data from multiple-ascending-dose healthy-volunteer cohorts in 2027 and expects an update from its Alzheimer’s patient cohorts that year as well.
Company highlights subcutaneous CNS delivery
Chief Executive Officer Chris Anzalone said the results represent Arrowhead’s first clinical proof of concept for delivery of siRNA to the central nervous system through a subcutaneous injection. He said the company believes the approach could potentially support dosing as infrequently as quarterly and, if developed successfully, could potentially be administered at home.
In preclinical monkey studies, Arrowhead said subcutaneous administration of ARO-MAPT reduced MAPT expression by more than 75% across multiple brain regions, including the hippocampus. The company also reported that repeat dosing in monkeys maintained gene silencing and supported up to 60% CSF tau knockdown four months after the last dose.
Hamilton said Arrowhead’s preclinical work suggested more homogeneous brain distribution from the subcutaneous platform than from intrathecal administration, which delivers drugs directly into spinal fluid. He said broader distribution could avoid high concentrations in the spinal cord and potentially improve silencing in disease-relevant brain regions.
Anzalone said the company has one wholly owned and one partnered CNS candidate in clinical development using the TRiM CNS platform, and expects another partnered candidate to enter the clinic in 2027. Arrowhead also plans to introduce at least three additional wholly owned CNS candidates into the clinic over the next 12 months, according to his remarks.
Tau remains an emerging therapeutic target
Adam Boxer, a professor of neurology at the University of California, San Francisco, reviewed the rationale for reducing tau in neurodegenerative diseases. He said the amount and location of insoluble tau in the brain are closely correlated with symptoms in Alzheimer’s disease and several primary tauopathies.
Boxer noted that two approved anti-amyloid therapies have shown modest slowing of cognitive decline in symptomatic Alzheimer’s disease, but said tau-directed treatments may provide another way to address disease progression. He discussed prior studies of tau-targeting antisense therapies, including results suggesting reductions in CSF tau and signals of slowed cognitive decline or neurodegeneration in certain settings.
However, Boxer said important questions remain regarding the optimal degree and duration of tau reduction. Tau has normal physiological roles, and while animal studies and human genetic evidence have not linked tau loss of function to disease, prior clinical findings with another tau-lowering therapy raised questions about whether adverse effects could result from the treatment approach or potentially from on-target tau reduction.
Potential next studies in PSP and FTD
Arrowhead said it has begun regulatory discussions regarding potential later-stage studies in MAPT-variant frontotemporal dementia and progressive supranuclear palsy. Hamilton said the company aims to finalize study designs following additional regulatory discussions over the next one to two quarters, with a goal of starting studies in 2027.
Boxer said PSP and certain forms of frontotemporal dementia may offer potential development advantages because they are rare, severe diseases with no approved disease-modifying therapies and generally faster clinical progression than Alzheimer’s disease. He added that clinical studies in these conditions can potentially be smaller and shorter, although he did not provide a specific regulatory outlook for ARO-MAPT.
In discussing future dose selection, Hamilton said the 6.4 mg/kg and 12.8 mg/kg regimens appeared broadly comparable after the initial loading dose. He said Arrowhead may favor the lower end of the range if higher doses do not show added benefit, though patient data and results after subsequent doses will be needed to guide that decision.
About Arrowhead Pharmaceuticals (NASDAQ:ARWR)Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. Its research is based primarily on RNA interference (RNAi), a biological process that reduces the production of specific proteins by targeting messenger RNA before it can be used to make those proteins.
The company uses its proprietary Targeted RNAi Molecule (TRiM) platform to design and deliver RNAi therapeutics to selected tissues, including the liver and lungs.
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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Proti společnosti Dun & Bradstreet byla podána hromadná žaloba kvůli údajným zavádějícím informacím v souvislosti s akvizicí přidruženými společnostmi Clearlake za 9,15 USD za akcii.
, /PRNewswire/ -- Shareholder rights law firm Robbins LLP reminds investors that a class action was filed on behalf of sellers of Dun & Bradstreet Holdings, Inc. (NYSE: DNB) common stock between May 13, 2025 and August 26, 2025, inclusive (the "Class Period"), including holders who exchanged shares of Dun & Bradstreet common stock in the Merger with Clearlake Capital Group, L.P., and holders of Dun & Bradstreet common stock as of the May 9, 2025 record date for the special meeting of stockholders and whose shares were voted on, or entitled to vote on, the merger with Clearlake. Dun & Bradstreet is a global provider of business decision data and analytics.
The complaint alleges that Dun & Bradstreet's sale was engineered by the Company's Executive Chairman William P. Foley to relieve an acute liquidity crisis at Cannae Holdings, Inc., D&B's largest stockholder, which Foley also chaired—and to defeat an activist proxy contest that threatened Foley's control of Cannae.
Investors who suffered significant losses during the Class Period may be eligible to participate in the lawsuit and should contact Robbins LLP before the November 10, 2026, lead plaintiff deadline.
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Why Was Dun & Bradstreet Sued?
According to the complaint, on or about March 23, 2025, Dun & Bradstreet agreed to be acquired by affiliates of Clearlake for $9.15 per share in cash. According to the complaint, to obtain the stockholder approval required to consummate the merger, Dun & Bradstreet issued a definitive proxy statement on Schedule 14A on May 13, 2025 (the "Proxy"). Dun & Bradstreet stockholders allegedly voted to approve the merger on June 12, 2025, and the merger closed on August 26, 2025.
Plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose material facts in Dun & Bradstreet's March 23, 2025, merger announcement and in the Proxy.
Specifically, defendants failed to disclose: (i) the actual impetus for the sale: the liquidity crisis and activist threat confronting Cannae, and Foley's determination to convert Dun & Bradstreet, Cannae's largest holding, into cash quickly to address these issues; (ii) that several alternatives to a whole-company sale were worth materially more than $9.15 per share; (iii) the false board approval of the March Projections; and (iv) the advisor conflicts in the sales process.
Who May Be Eligible to Participate in the Dun & Bradstreet Class Action?
The lawsuit seeks to represent investors who sold Dun & Bradstreet Holdings, Inc. common stock between May 13, 2025 and August 26, 2025. Investors who suffered losses during that period may have legal rights under the federal securities laws.
What Is a Lead Plaintiff?
The lead plaintiff is a court-appointed investor who represents the interests of all class members throughout the litigation. Stockholders who wish to lead the class action should contact Robbins LLP for information prior to the November 10, 2026, lead plaintiff deadline.
Serving as lead plaintiff is not required to share in any potential recovery. Investors who do not seek appointment may remain absent class members if the case proceeds and later resolves successfully.
Does It Cost Anything to Participate?
No. Robbins LLP represents investors on a contingency fee basis.
Contact Robbins LLP
Investors seeking additional information about the Dun & Bradstreet Holdings, Inc. securities class action may contact Robbins LLP by submitting an inquiry, emailing attorney Aaron Dumas, Jr., or calling (800) 350-6003.
Why Robbins LLP?
A recognized leader in shareholder rights litigation, Robbins LLP represents investors in securities fraud and shareholder derivative litigation. We have helped restore more than $2 billion in value to shareholders and secured some of the largest recoveries in shareholder derivative litigation history.
"Companies have an obligation to provide investors with complete and accurate information so that markets can function fairly and efficiently," said Brian J. Robbins, Founding Partner of Robbins LLP.
To be notified if a class action against Dun & Bradstreet Holdings, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
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Akcionáři společností Fox a Roku schválili akvizici společnosti Roku za 160 USD za akcii, která oceňuje společnost na 22 miliard USD. Fox má po dokončení transakce vlastnit zhruba 73 % sloučené společnosti.
With media M&A in the air, shareholders of both companies have approved Fox’s planned cash and stock acquisition of Roku at special meetings today.
The approvals were expected.
The deal announced in June – which will turbocharge Fox’s streaming capabilities – calls for the company run by Lachlan Murdoch to acquire Roku for $160 a share through a combination of cash and Fox Class A stock, giving Roku an enterprise valuation of $22 billion. On closing, Fox shareholders will own about 73% of the merged business, with Roku shareholders taking the other 27%.
Roku, founded in 2002, reaches around 100 million global streaming homes through its connected TV platform, and is in more than half of all U.S. broadband households. Fox operates its namesake broadcast network, a large local station portfolio, cable networks Fox News and Fox Business, subscription streamer Fox One, and a sports rights portfolio including the NFL, MLB, NASCAR, Big Ten and the FIFA World Cup.
Fox said at the announcement that the Roku purchase would “create a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.”
Roku founder, chairman and CEO Anthony Wood will have an ongoing role at the combined company and will join the Fox board.
Fox Corp. President and Chief Operating Officer John Nallen told investors at a media conference last month that the deal is on track to close in the first half of next year despite a new request for information from regulators. He called the request by the U.S. Department of Justice “entirely expected.”
It’s the latest transformative deal in a rapidly transforming media landscape that just saw Paramount and Warner Bros. Discovery close their merger, creating the new Skydance.
In an SEC filing today, Fox noted nearly 100% of votes in favor of the deal. Roku’s tally will come in a filing Thursday.
MELVILLE, NY AND DAVIDSON, NC / ACCESS Newswire / October 14, 2026 / MSC Industrial Supply Co. (NYSE:MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services to industrial customers throughout North America, today announced that its Board of Directors has declared a cash dividend of $0.89 per share. This represents an increase of approximately 2.3% from the previously paid regular quarterly dividend of $0.87 per share. The $0.89 dividend is payable on November 25, 2026 to shareholders of record at the close of business on November 11, 2026.
# # #
Contact Information
Investors:
Ryan Mills, CFA
VP, Investor Relations & Business Development
[email protected]
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking, maintenance, repair and operations (MRO), and production fastener and hardware products and services. With approximately 2.5 million products, industry‑leading inventory management and supply chain solutions, and more than 80 years of experience, we help customers improve productivity, profitability, and operational performance.
Our team of over 7,000 associates partners closely with customers across industries to keep their operations running efficiently today while enabling them with insights and comprehensive solutions to continually rethink, retool, and optimize for a more productive tomorrow.
For more information on MSC Industrial, please visit mscdirect.com.
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships, including tariff policies; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
CONWAY, Ark., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB) (“Home” or the “Company”), parent company of Centennial Bank, released quarterly earnings today.
Quarterly Highlights
MetricQ3 2026Q2 2026Q1 2026Q4 2025Q3 2025Net income$129.5 million$119.3 million$118.2 million$118.2 million$123.6 millionNet income, as adjusted (non-GAAP)(1)$129.1 million$128.1 million$118.2 million$117.9 million$119.7 millionTotal revenue (net)$288.4 million$295.1 million$266.7 million$282.1 million$277.7 millionIncome before income taxes$166.9 million$154.4 million$152.2 million$153.3 million$159.3 millionPre-tax, pre-provision, net income (PPNR) (non-GAAP)(1)$166.9 million$159.6 million$152.7 million$167.7 million$162.8 millionPPNR, as adjusted (non-GAAP)(1)$166.6 million$171.2 million$152.7 million$167.1 million$157.7 millionPre-tax net income to total revenue (net)57.87%52.32%57.08%54.35%57.38%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1)57.75%56.27%57.06%54.14%55.53%P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)57.87%54.08%57.27%59.46%58.64%P5NR, as adjusted (non-GAAP)(1)57.75%58.03%57.25%59.25%56.80%ROA2.12%1.95%2.09%2.06%2.17%ROA, as adjusted (non-GAAP)(1)2.11%2.09%2.09%2.05%2.10%NIM4.53%4.51%4.51%4.61%4.56%Purchase accounting accretion$2.9 million$3.6 million$1.1 million$1.3 million$1.3 millionROE11.24%10.55%11.09%11.04%11.91%ROE, as adjusted (non-GAAP)(1)11.20%11.32%11.08%11.01%11.54%ROTCE (non-GAAP)(1)16.59%15.67%16.56%16.65%18.28%ROTCE, as adjusted (non-GAAP)(1)16.54%16.82%16.55%16.60%17.70%Diluted earnings per share$0.65$0.59$0.60$0.60$0.63Diluted earnings per share, as adjusted (non-GAAP)(1)$0.65$0.64$0.60$0.60$0.61Non-performing assets to total assets1.02%0.93%0.97%0.55%0.56%Common equity tier 1 capital16.7%16.3%16.7%16.3%16.1%Leverage14.3%13.9%14.3%14.1%13.8%Tier 1 capital16.7%16.3%16.7%16.3%16.1%Total risk-based capital19.4%19.0%19.5%19.1%18.9%Allowance for credit losses to total loans1.93%1.92%1.90%1.90%1.87%Book value per share$22.74$22.68$22.15$21.88$21.41Tangible book value per share (non-GAAP)(1)$15.35$15.32$14.87$14.60$14.13Dividends per share$0.23$0.21$0.21$0.21$0.20Shareholder buyback yield(2)0.69%0.77%0.25%0.27%0.18% (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.
(2) Calculation of this metric is included in the schedules accompanying this release.
“In banking some play the growth game. At HOMB, we focus on stability. Strength is no accident, it’s our culture, and for that I am proud. Our team delivered a very solid and safe third quarter,” said John Allison, Chairman.
Quarterly Financial Performance TrendsNet income reached a Company-record $129.5 million for the third quarter of 2026, compared to $119.3 million for the second quarter of 2026 and $123.6 million for the third quarter of 2025. Net income, as adjusted (non-GAAP)(1), also reached a Company-record of $129.1 million, increasing 0.8% from $128.1 million in the prior quarter and 7.9% from $119.7 million in the third quarter of 2025. PPNR (non-GAAP)(1) totaled $166.9 million for the third quarter of 2026, compared to $159.6 million in the prior quarter and $162.8 million in the third quarter of 2025. PPNR, as adjusted (non-GAAP)(1) totaled $166.6 million, compared to $171.2 million in the prior quarter and $157.7 million in the third quarter of 2025, reflecting the continued strength and resilience of the Company's earnings performance.Dollar amounts presented below in thousands.
Net interest income after credit loss expense totaled $242.0 million for the third quarter of 2026, compared to $236.4 million in the prior quarter and $222.7 million for the third quarter of 2025. The increase from both the linked quarter and prior-year period was driven by strong net interest income generation and a reduction in credit loss expense. Non-interest income totaled $46.4 million for the third quarter of 2026, compared to $53.5 million in the second quarter of 2026 and $51.5 million in the third quarter of 2025. Results for the quarter reflect the normal variability of fee-based revenue categories while continuing to contribute to the Company's overall earnings performance.
Total revenue (net) totaled $288.4 million for the third quarter of 2026, compared to $295.1 million in the prior quarter and $277.7 million in the third quarter of 2025. While revenue declined modestly from the linked quarter, results remained strong and increased from the third quarter of 2025, reflecting continued strength in net interest income and the Company's banking operations. Non-interest expense totaled $121.5 million for the third quarter of 2026, compared to $135.5 million in the prior quarter and $114.8 million in the third quarter of 2025. The linked-quarter decrease was primarily driven by the absence of acquisition-related expenses incurred during the second quarter, while the increase from the prior-year quarter reflects the impact of franchise growth and continued investment in the Company's operations. Interest expense decreased from both the prior quarter and prior-year period, reflecting continued improvement in the Company's funding costs.
The efficiency ratio was 40.78% for the third quarter of 2026, compared to 44.54% in the prior quarter and 40.21% in the third quarter of 2025. The efficiency ratio, as adjusted (non-GAAP)(1), was 40.84%, compared to 40.46% in the prior quarter and 40.95% in the third quarter of 2025. The improvement in the reported efficiency ratio from the linked quarter primarily reflects the absence of acquisition-related expenses recognized during the second quarter. On an adjusted basis, the efficiency ratio remained relatively stable compared to the prior quarter and improved modestly from the prior-year period, reflecting continued operating discipline. Return on average assets (ROA) was 2.12% for the third quarter of 2026, compared to 1.95% in the prior quarter and 2.17% in the third quarter of 2025. ROA, as adjusted (non-GAAP)(1), was 2.11%, compared to 2.09% in the prior quarter and 2.10% in the third quarter of 2025. The linked-quarter improvement in both reported and adjusted ROA reflects strong earnings performance and the absence of acquisition-related expenses recognized during the second quarter, while adjusted ROA improved from the prior-year quarter, demonstrating the Company's continued ability to generate strong returns on its asset base.
The tables below present additional key financial metrics over the past five quarters, including net interest margin (NIM), yield on interest-earning assets, rate on interest-bearing liabilities, and net interest spread. These metrics are fundamental indicators of the Company’s profitability and operational efficiency.
Book value per share increased to $22.74 at September 30, 2026, compared to $22.68 at June 30, 2026 and $21.41 at September 30, 2025. Tangible book value per share (non-GAAP)(1) increased to $15.35 from $15.32 in the prior quarter and $14.13 in the prior-year period. The continued growth in both book value per share and tangible book value per share reflects the Company's strong earnings generation during the past year and disciplined capital management. Operating Highlights
Net income for the three-month period ended September 30, 2026 was $129.5 million, or $0.65 diluted earnings per share, both of which were records for the Company. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $129.1 million(1) and $0.65 per share(1), respectively, for the three months ended September 30, 2026.
Our net interest margin was 4.53% and 4.51% for the three-month periods ended September 30, 2026 and June 30, 2026, respectively. The yield on loans was 6.95% and 7.00% for the three months ended September 30, 2026 and June 30, 2026, respectively, as average loans decreased from $17.08 billion to $17.06 billion. The rate on interest bearing deposits decreased to 2.37% for the three-month period ended September 30, 2026, from 2.39% for the three-month period ended June 30, 2026, and average interest-bearing deposits decreased from $14.69 billion to $14.43 billion.
During the third quarter of 2026, there was $1.5 million of event interest income compared to $1.7 million of event interest income for the second quarter of 2026. Purchase accounting accretion on acquired loans was $2.9 million and $3.6 million for the three-month periods ended September 30, 2026 and June 30, 2026, respectively, and average purchase accounting loan discounts were $39.4 million and $42.0 million for the three-month periods ended September 30, 2026 and June 30, 2026, respectively. The decrease in accretion was dilutive to the net interest margin by one basis point.
Net interest income on a fully taxable equivalent basis was $244.5 million for the three-month period ended September 30, 2026, compared to $244.3 million for the three-month period ended June 30, 2026. This increase in net interest income for the three-month period ended September 30, 2026, was the result of a $2.3 million decrease in interest expense, which was partially offset by a $2.1 million decrease in interest income. The $2.3 million decrease in interest expense was due to a $1.2 million decrease in interest expense on deposits and a $1.1 million decrease in interest expense on FHLB and other borrowed funds. The $2.1 million decrease in interest income was primarily the result of a $1.6 million decrease in income from interest-bearing balances due from banks and a $963,000 decrease in income from investments.
The Company reported $46.4 million of non-interest income for the third quarter of 2026. The most important components of non-interest income were $12.0 million from other service charges and fees, $11.6 million from other income, $10.4 million from service charges on deposit accounts, $4.0 million from trust fees, $3.8 million in mortgage lending income, $2.6 million from dividends from FHLB, FRB, FNBB and other, $1.5 million from the increase in cash value of life insurance, $744,000 in income from the gain on sale of branches, equipment and other assets and $561,000 in insurance commissions, which were partially offset by $916,000 in expense from the fair value adjustment for marketable securities. Included within other income was $528,000 in bank-owned life insurance death benefit income, and included within the $744,000 in income from the gain on sale of branches, equipment and other assets was a $710,000 gain from the sale of a former branch location in Arkansas.
Non-interest expense for the third quarter of 2026 was $121.5 million. The most important components of non-interest expense were $67.6 million of salaries and employee benefits expense, $28.9 million in other operating expense, $15.8 million in occupancy and equipment expenses, and $9.2 million in data processing expenses. For the third quarter of 2026, our efficiency ratio was 40.78%, and our efficiency ratio, as adjusted (non-GAAP), was 40.84%(1).
Financial Condition
Total loans receivable were $16.91 billion at September 30, 2026, compared to $17.13 billion at June 30, 2026. Total deposits were $18.76 billion at September 30, 2026, compared to $19.11 billion at June 30, 2026. Total assets were $24.15 billion at September 30, 2026, compared to $24.71 billion at June 30, 2026.
During the third quarter of 2026, the Company had a $216.6 million decrease in loans. Our community banking footprint experienced $255.7 million in organic loan decline during the quarter ended September 30, 2026, while Centennial CFG experienced $39.1 million of organic loan growth in the third quarter, with $2.08 billion of loans outstanding at September 30, 2026.
Non-performing loans to total loans were 1.19% and 1.08% at September 30, 2026 and June 30, 2026, respectively. Non-performing assets to total assets were 1.02% and 0.93% at September 30, 2026 and June 30, 2026, respectively. Net loans charged-off were $2.1 million and $5.8 million for the three months ended September 30, 2026 and June 30, 2026, respectively. The charge-off detail by region for the quarters ended September 30, 2026 and June 30, 2026 can be seen below.
For the Three Months Ended September 30, 2026(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Tennessee Alabama TotalCharge-offs $848 $947 $— $679 $1,165 $18 $12 $3,669 Recoveries (199) (228) — (6) (1,085) — (2) (1,520)Net charge-offs (recoveries) $649 $719 $— $673 $80 $18 $10 $2,149 For the Three Months Ended June 30, 2026(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Tennessee Alabama TotalCharge-offs $1,708 $2,605 $— $1,896 $286 $11 $14 $6,520 Recoveries (249) (324) — (5) (142) — (2) (722)Net charge-offs (recoveries) $1,459 $2,281 $— $1,891 $144 $11 $12 $5,798 At September 30, 2026, non-performing loans were $200.8 million, and non-performing assets were $245.3 million. At June 30, 2026, non-performing loans were $185.3 million, and non-performing assets were $228.6 million.
The table below shows the non-performing loans and non-performing assets by region as of September 30, 2026:
(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Tennessee Alabama TotalNon-accrual loans $126,160 $18,322 $14,844 $9,789 $22,581 $4,049 $44 $195,789Loans 90+ days past due 2,129 1,079 — — 1,810 — — 5,018Total non-performing loans 128,289 19,401 14,844 9,789 24,391 4,049 44 200,807 Foreclosed assets held for sale 16,379 2,478 22,812 — 315 1,382 — 43,366Other non-performing assets — — — 1,140 — — — 1,140Total other non-performing assets 16,379 2,478 22,812 1,140 315 1,382 — 44,506Total non-performing assets $144,668 $21,879 $37,656 $10,929 $24,706 $5,431 $44 $245,313
The table below shows the non-performing loans and non-performing assets by region as of June 30, 2026:
(in thousands) Texas Arkansas Centennial CFG Shore Premier Finance Florida Tennessee Alabama TotalNon-accrual loans $123,170 $19,529 $— $11,886 $24,235 $4,335 $44 $183,199Loans 90+ days past due 690 238 — — 282 916 — 2,126Total non-performing loans 123,860 19,767 — 11,886 24,517 5,251 44 185,325 Foreclosed assets held for sale 15,647 2,028 22,812 — 260 1,392 — 42,139Other non-performing assets — — — 1,140 — — — 1,140Total other non-performing assets 15,647 2,028 22,812 1,140 260 1,392 — 43,279Total non-performing assets $139,507 $21,795 $22,812 $13,026 $24,777 $6,643 $44 $228,604 The Company’s allowance for credit losses on loans was $326.2 million, or 1.93% of total loans, at September 30, 2026 compared to $328.4 million, or 1.92% of total loans, at June 30, 2026. As of September 30, 2026 and June 30, 2026, the Company’s allowance for credit losses on loans was 162.45% and 177.19% of its total non-performing loans, respectively.
Shareholders’ equity was $4.53 billion at September 30, 2026, which decreased approximately $17.7 million from June 30, 2026. The net decrease in shareholders’ equity is primarily associated with the $64.9 million decrease in accumulated other comprehensive income, the $39.6 million in stock repurchases for the quarter and the $46.0 million in dividends paid during the quarter, which were partially offset by the $129.5 million in net income for the quarter. Book value per common share was $22.74 at September 30, 2026, compared to $22.68 at June 30, 2026. Tangible book value per common share (non-GAAP) was $15.35(1) at September 30, 2026, compared to $15.32(1) at June 30, 2026. Book value per common share and tangible book value per common share, as of September 30, 2026, were both records for the Company.
Stock Repurchases and Dividends
During the three-month period ended September 30, 2026, the Company repurchased 1.3 million shares of common stock, which equated to a shareholder buyback yield of 0.69%(2). In comparison, during the three-month period ended June 30, 2026, the Company repurchased 1.5 million shares of common stock, which equated to a shareholder buyback yield of 0.77%(2). The Company defines shareholder buyback yield as the percentage of the Company’s market capitalization spent on share repurchases. It reflects how much the Company is returning to the shareholders by reducing the number of outstanding shares, and it is calculated by dividing the Company’s total share repurchase cost for the period by the Company’s total market capitalization at the beginning of the period.
In addition, during the quarter ended September 30, 2026, the Company paid a dividend of $0.23 per share. This cash dividend represented a $0.02, or 9.5%, increase over the $0.21 cash dividend paid during the second quarter of 2026 and a $0.03, or 15.0%, increase over the $0.20 cash dividend paid during the third quarter of 2025.
Branches
The Company currently has 75 branches in Arkansas, 78 branches in Florida, 59 branches in Texas, 8 branches in Tennessee, 5 branches in Alabama and one branch in New York City.
Conference Call
Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, October 15, 2026. We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/887189816. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://events.q4inc.com/analyst/887189816?pwd=Khijd6H0. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.
Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-461-5787, Passcode: 887189816. A replay of the call will be available using the following link: https://events.q4inc.com/attendee/887189816. Internet access to the call will be available live or in recorded version on the Company's website at www.homebancshares.com.
About Home BancShares
Home BancShares, Inc. is a bank holding company headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, Texas, Tennessee, South Alabama and New York City. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.” The Company was founded in 1998. Visit www.homebancshares.com or www.my100bank.com for more information.
Non-GAAP Financial Measures
This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company’s management uses these non-GAAP financial measures--including net income (earnings), as adjusted; pre-tax, pre-provision, net income (PPNR); PPNR, as adjusted; pre-tax net income, as adjusted, to total revenue (net); pre-tax, pre-provision, profit percentage; pre-tax, pre-provision, profit percentage, as adjusted; diluted earnings per common share, as adjusted; return on average assets, as adjusted; return on average assets excluding intangible amortization; return on average assets, as adjusted, excluding intangible amortization; return on average common equity, as adjusted; return on average tangible common equity; return on average tangible common equity, as adjusted; return on average tangible common equity excluding intangible amortization; return on average tangible common equity, as adjusted, excluding intangible amortization; efficiency ratio, as adjusted; tangible book value per common share and tangible common equity to tangible assets--to provide meaningful supplemental information regarding our performance. These measures typically adjust GAAP performance measures to include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income and equity available to common shareholders for certain significant items or transactions that management believes are not indicative of the Company’s primary business operating results. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s business. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.
(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.
(2) Calculation of this metric is included in the schedules accompanying this release.
General
This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future, including future financial results. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including any prospective financial information, are not fact and should not be relied upon as being guarantees or necessarily indicative of future events, performance or results. Readers are cautioned not to place undue reliance on any prospective financial information or other forward-looking statements contained in this news release. When we use words or phrases like “may,” “will,” “plan,” “propose,” “contemplate,” “anticipate,” “believe,” “intend,” “continue,” “expect,” “project,” “predict,” “estimate,” “could,” “should,” “would,” “bringing it closer to” and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. Forward-looking statements of this type speak only as of the date of this news release and are based on various assumptions, estimates and judgments. By nature, forward-looking statements involve inherent risks and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following: economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment, including any future impacts from inflation or changes in tariffs or trade policies; the risk that the anticipated benefits from the completed acquisition of Mountain Commerce Bancorp, Inc. (“MCBI”) may not be fully realized or may take longer to realize than expected, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Home and MCBI operate; the ability to promptly and effectively integrate the businesses of Home and MCBI; the ability to retain key employees, customers and business relationships following the acquisition; the reaction to the completed acquisition of the companies’ customers, employees and counterparties; diversion of management time on integration-related issues; the possibility that the costs of integration may be greater than anticipated; the effect of any future mergers, acquisitions or other transactions to which we or our bank subsidiary may from time to time be a party, including as a result of one or more of the factors described above as they would relate to such transaction; the ability to identify, complete and successfully integrate additional acquisitions; the availability of and access to capital and liquidity on terms acceptable to us; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations; technological changes and cybersecurity risks and incidents; the effects of changes in accounting policies and practices; changes in governmental monetary and fiscal policies; the impacts of political instability, ongoing or future military conflicts and other major domestic or international events; the impacts of recent or future adverse weather events, including hurricanes, and other natural disasters; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; potential increases in deposit insurance assessments, increased regulatory scrutiny or market disruptions resulting from financial challenges in the banking industry; disruptions, uncertainties and related effects on credit quality, liquidity and other aspects of our business and operations that may result from any future public health crises; changes in the assumptions used in making the forward-looking statements; and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 27, 2026. Home undertakes no obligation to update the information in this press release, except as otherwise required by law.
FOR MORE INFORMATION CONTACT:
Donna Townsell
Director of Investor Relations
Home BancShares, Inc.
(501) 328-4625
Home BancShares, Inc.Consolidated End of Period Balance Sheets(Unaudited) (In thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025ASSETS Cash and due from banks $281,515 $279,660 $296,209 $237,224 $284,750 Interest-bearing deposits with other banks 577,537 772,859 815,714 430,113 516,170 Cash and cash equivalents 859,052 1,052,519 1,111,923 667,337 800,920 Federal funds sold 4,025 5,450 6,025 3,000 3,625 Investment securities - available-for-sale, net of allowance for credit losses 2,613,377 2,776,216 2,803,847 2,871,931 2,924,496 Investment securities - held-to-maturity, net of allowance for credit losses 1,250,246 1,254,802 1,256,635 1,259,262 1,264,200 Total investment securities 3,863,623 4,031,018 4,060,482 4,131,193 4,188,696 Loans receivable 16,910,621 17,127,208 15,633,628 15,686,209 15,285,972 Allowance for credit losses (326,220) (328,369) (297,634) (297,583) (285,649)Loans receivable, net 16,584,401 16,798,839 15,335,994 15,388,626 15,000,323 Bank premises and equipment, net 439,729 437,552 374,010 369,324 374,515 Foreclosed assets held for sale 43,366 42,139 40,874 39,831 41,263 Cash value of life insurance 232,361 233,515 221,830 220,469 219,075 Accrued interest receivable 111,688 108,384 106,628 108,939 110,702 Deferred tax asset, net 170,002 153,803 143,987 148,022 155,963 Goodwill 1,410,211 1,410,211 1,398,253 1,398,253 1,398,253 Core deposit intangible 62,651 65,541 30,355 32,293 34,231 Other assets 364,555 374,277 371,318 374,592 380,236 Total assets $24,145,664 $24,713,248 $23,201,679 $22,881,879 $22,707,802 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Deposits: Demand and non-interest-bearing $4,209,426 $4,447,710 $3,994,217 $3,868,405 $3,880,101 Savings and interest-bearing transaction accounts 12,354,400 12,423,361 11,971,866 11,792,828 11,500,921 Time deposits 2,191,743 2,242,034 1,772,192 1,818,724 1,946,674 Total deposits 18,755,569 19,113,105 17,738,275 17,479,957 17,327,696 Securities sold under agreements to repurchase 161,181 158,744 157,409 155,803 145,998 FHLB and other borrowed funds 250,250 450,250 500,250 500,250 550,500 Accrued interest payable and other liabilities 169,129 164,112 176,727 169,733 189,551 Subordinated debentures 279,774 279,602 279,433 279,265 279,093 Total liabilities 19,615,903 20,165,813 18,852,094 18,585,008 18,492,838 Shareholders' equity Common stock 1,992 2,005 1,964 1,964 1,969 Capital surplus 2,265,268 2,301,551 2,191,243 2,201,923 2,214,211 Retained earnings 2,496,333 2,412,859 2,335,787 2,258,871 2,181,911 Accumulated other comprehensive loss (233,832) (168,980) (179,409) (165,887) (183,127)Total shareholders' equity 4,529,761 4,547,435 4,349,585 4,296,871 4,214,964 Total liabilities and shareholders' equity $24,145,664 $24,713,248 $23,201,679 $22,881,879 $22,707,802 Home BancShares, Inc.Consolidated Statements of Income(Unaudited) Quarter Ended Nine Months Ended(In thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025Interest income: Loans $298,625 $298,066 $273,473 $285,491 $283,165 $870,164 $829,990 Investment securities Taxable 24,971 25,787 24,728 25,860 26,326 75,486 80,203 Tax-exempt 7,711 7,811 7,829 7,834 7,743 23,351 23,019 Deposits - other banks 3,546 5,135 4,945 4,405 6,242 13,626 21,813 Federal funds sold 43 37 48 41 56 128 164 Total interest income 334,896 336,836 311,023 323,631 323,532 982,755 955,189 Interest expense: Interest on deposits 86,280 87,432 79,145 83,739 87,962 252,857 263,237 FHLB and other borrowed funds 3,255 4,346 4,692 4,985 5,378 12,293 16,819 Securities sold under agreements to repurchase 1,009 1,057 927 962 1,019 2,993 3,105 Subordinated debentures 2,359 2,358 2,355 2,359 3,007 7,072 11,254 Total interest expense 92,903 95,193 87,119 92,045 97,366 275,215 294,415 Net interest income 241,993 241,643 223,904 231,586 226,166 707,540 660,774 Provision for credit losses on loans — 5,200 1,500 14,400 6,700 6,700 9,700 Recovery of credit losses on unfunded commitments — — (1,000) — (1,000) (1,000) (1,000)Recovery of credit losses on investment securities — — — — (2,194) — (2,194)Total credit loss expense — 5,200 500 14,400 3,506 5,700 6,506 Net interest income after credit loss expense 241,993 236,443 223,404 217,186 222,660 701,840 654,268 Non-interest income: Service charges on deposit accounts 10,403 10,030 10,007 10,480 10,486 30,440 29,688 Other service charges and fees 12,008 12,973 9,810 11,148 12,130 34,791 35,462 Trust fees 3,969 6,109 5,482 5,121 4,600 15,560 14,594 Mortgage lending income 3,783 5,139 4,430 4,680 4,691 13,352 13,070 Insurance commissions 561 578 536 460 574 1,675 1,698 Increase in cash value of life insurance 1,530 1,553 1,368 1,400 1,404 4,451 4,661 Dividends from FHLB, FRB, FNBB & other 2,640 2,841 2,536 2,678 2,658 8,017 8,033 Gain on SBA loans — — 80 308 46 80 334 Gain (loss) on branches, equipment and other assets, net 744 3 (7) 11 (66) 740 743 Gain (loss) on OREO, net 81 332 707 203 (1) 1,120 (364)Fair value adjustment for marketable securities (916) 817 (1,248) 1,173 1,020 (1,347) 1,224 Other income 11,643 13,079 9,102 12,838 13,963 33,824 38,867 Total non-interest income 46,446 53,454 42,803 50,500 51,505 142,703 148,010 Non-interest expense: Salaries and employee benefits 67,607 68,742 63,236 62,891 63,804 199,585 189,977 Occupancy and equipment 15,819 15,787 14,867 14,434 14,828 46,473 43,276 Data processing expense 9,187 9,307 8,884 8,653 8,871 27,378 25,793 Merger and acquisition expenses — 12,726 394 580 — 13,120 — Other operating expenses 28,919 28,932 26,594 27,805 27,335 84,445 84,760 Total non-interest expense 121,532 135,494 113,975 114,363 114,838 371,001 343,806 Income before income taxes 166,907 154,403 152,232 153,323 159,327 473,542 458,472 Income tax expense 37,456 35,076 34,023 35,098 35,723 106,555 101,256 Net income $129,451 $119,327 $118,209 $118,225 $123,604 $366,987 $357,216 Home BancShares, Inc.Selected Financial Information(Unaudited) Quarter Ended Nine Months Ended(Dollars and shares in thousands, except per share data) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025PER SHARE DATA Diluted earnings per common share $0.65 $0.59 $0.60 $0.60 $0.63 $1.84 $1.80 Diluted earnings per common share, as adjusted (non-GAAP)(1) 0.65 0.64 0.60 0.60 0.61 1.88 1.75 Basic earnings per common share 0.65 0.59 0.60 0.60 0.63 1.84 1.81 Dividends per share - common 0.23 0.21 0.21 0.21 0.20 0.65 0.595 Shareholder buyback yield 0.69% 0.77% 0.25% 0.27% 0.18% 1.73% 1.19%Book value per common share $22.74 $22.68 $22.15 $21.88 $21.41 $22.74 $21.41 Tangible book value per common share (non-GAAP)(1) 15.35 15.32 14.87 14.60 14.13 15.35 14.13 STOCK INFORMATION Average common shares outstanding 199,868 201,223 196,528 196,553 197,078 199,219 197,750 Average diluted shares outstanding 200,051 201,420 196,733 196,764 197,288 199,413 197,952 End of period common shares outstanding 199,210 200,460 196,394 196,357 196,889 199,210 196,889 ANNUALIZED PERFORMANCE METRICS Return on average assets (ROA) 2.12% 1.95% 2.09% 2.06% 2.17% 2.05% 2.11%Return on average assets, as adjusted: (ROA, as adjusted) (non-GAAP)(1) 2.11% 2.09% 2.09% 2.05% 2.10% 2.10% 2.04%Return on average assets excluding intangible amortization (non-GAAP)(1) 2.30% 2.12% 2.25% 2.22% 2.34% 2.22% 2.28%Return on average assets, as adjusted, excluding intangible amortization (non-GAAP)(1) 2.29% 2.27% 2.25% 2.22% 2.27% 2.27% 2.21%Return on average common equity (ROE) 11.24% 10.55% 11.09% 11.04% 11.91% 10.94% 11.81%Return on average common equity, as adjusted: (ROE, as adjusted) (non-GAAP)(1) 11.20% 11.32% 11.08% 11.01% 11.54% 11.19% 11.45%Return on average tangible common equity (ROTCE) (non-GAAP)(1) 16.59% 15.67% 16.56% 16.65% 18.28% 16.23% 18.31%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) (non-GAAP)(1) 16.54% 16.82% 16.55% 16.60% 17.70% 16.59% 17.75%Return on average tangible common equity excluding intangible amortization (non-GAAP)(1) 16.87% 15.96% 16.76% 16.85% 18.51% 16.48% 18.55%Return on average tangible common equity, as adjusted, excluding intangible amortization (non-GAAP)(1) 16.82% 17.11% 16.76% 16.80% 17.93% 16.85% 17.98% (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. Home BancShares, Inc.Selected Financial Information(Unaudited) Quarter Ended Nine Months Ended(Dollars in thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025Efficiency ratio 40.78% 44.54% 41.59% 39.54% 40.21% 42.34% 41.35%Efficiency ratio, as adjusted (non-GAAP)(1) 40.84% 40.46% 41.99% 39.53% 40.95% 41.07% 41.91%Net interest margin - FTE (NIM) 4.53% 4.51% 4.51% 4.61% 4.56% 4.52% 4.48%Fully taxable equivalent adjustment $2,516 $2,653 $2,661 $2,252 $2,916 $7,830 $7,976 Total revenue (net) 288,439 295,097 266,707 282,086 277,671 850,243 808,784 Pre-tax, pre-provision, net income (PPNR) (non-GAAP)(1) 166,907 159,603 152,732 167,723 162,833 479,242 464,978 PPNR, as adjusted (non-GAAP)(1) 166,585 171,238 152,677 167,130 157,704 490,500 450,929 Pre-tax net income to total revenue (net) 57.87% 52.32% 57.08% 54.35% 57.38% 55.69% 56.69%Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1) 57.75% 56.27% 57.06% 54.14% 55.53% 57.02% 54.95%P5NR(Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1) 57.87% 54.08% 57.27% 59.46% 58.64% 56.37% 57.49%P5NR, as adjusted (non-GAAP)(1) 57.75% 58.03% 57.25% 59.25% 56.80% 57.69% 55.75%Total purchase accounting accretion $2,875 $3,618 $1,061 $1,265 $1,272 $7,554 $3,883 Average purchase accounting loan discounts 39,395 41,962 12,507 13,753 15,009 31,399 16,257 OTHER OPERATING EXPENSES Advertising $2,179 $2,214 $2,227 $2,114 $2,149 $6,620 $6,131 Amortization of intangibles 2,890 2,889 1,938 1,938 2,024 7,717 6,096 Electronic banking expense 2,950 3,223 3,326 3,288 3,357 9,499 9,584 Directors' fees 402 416 518 388 405 1,336 1,288 Due from bank service charges 335 344 333 324 404 1,012 968 FDIC and state assessment 3,498 3,045 1,599 2,970 3,245 8,142 8,268 Insurance 1,073 1,090 1,074 1,044 1,110 3,237 3,158 Legal and accounting 1,235 1,426 914 1,362 1,061 3,575 7,062 Other professional fees 2,523 2,247 1,946 2,168 2,083 6,716 6,241 Operating supplies 877 769 748 759 773 2,394 2,195 Postage 580 684 543 564 538 1,807 1,529 Telephone 267 324 363 382 367 954 1,222 Other expense 10,110 10,261 11,065 10,504 9,819 31,436 31,018 Total other operating expenses $28,919 $28,932 $26,594 $27,805 $27,335 $84,445 $84,760 (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. Home BancShares, Inc. Selected Financial Information (Unaudited) (Dollars in thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 BALANCE SHEET RATIOS Total loans to total deposits 90.16% 89.61% 88.13% 89.74% 88.22% Common equity to assets 18.76% 18.40% 18.75% 18.78% 18.56% Tangible common equity to tangible assets (non-GAAP)(1) 13.48% 13.22% 13.42% 13.36% 13.08% LOANS RECEIVABLE Real estate Commercial real estate loans Non-farm/non-residential $5,543,038 $5,921,829 $5,395,529 $5,290,112 $5,494,492 Construction/land development 2,851,115 2,780,116 2,613,604 2,726,993 2,709,197 Agricultural 326,929 329,231 321,046 332,412 331,301 Residential real estate loans Residential 1-4 family 2,486,120 2,545,462 2,100,374 2,134,334 2,142,375 Multifamily residential 1,281,202 1,269,728 1,232,639 1,140,911 716,595 Total real estate 12,488,404 12,846,366 11,663,192 11,624,762 11,393,960 Consumer 1,305,141 1,278,008 1,254,936 1,253,746 1,233,523 Commercial and industrial 2,330,327 2,285,054 2,172,267 2,222,401 2,100,268 Agricultural 372,834 356,611 329,563 359,879 346,167 Other 413,915 361,169 213,670 225,421 212,054 Loans receivable $16,910,621 $17,127,208 $15,633,628 $15,686,209 $15,285,972 ALLOWANCE FOR CREDIT LOSSES Balance, beginning of period $328,369 $297,634 $297,583 $285,649 $281,869 Allowance for credit losses on acquired loans - MCBI — 31,333 — — — Loans charged off 3,669 6,520 2,849 3,063 4,651 Recoveries of loans previously charged off 1,520 722 1,400 597 1,731 Net loans charged off (recovered) 2,149 5,798 1,449 2,466 2,920 Provision for credit losses - loans — 5,200 1,500 14,400 6,700 Balance, end of period $326,220 $328,369 $297,634 $297,583 $285,649 Net charge-offs (recoveries) to average total loans 0.05% 0.14% 0.04% 0.06% 0.08% Allowance for credit losses to total loans 1.93% 1.92% 1.90% 1.90% 1.87% NON-PERFORMING ASSETS Non-performing loans Non-accrual loans $195,789 $183,199 $179,639 $78,002 $81,087 Loans past due 90 days or more 5,018 2,126 2,481 6,980 4,125 Total non-performing loans 200,807 185,325 182,120 84,982 85,212 Other non-performing assets Foreclosed assets held for sale, net 43,366 42,139 40,874 39,831 41,263 Other non-performing assets 1,140 1,140 1,140 — — Total other non-performing assets 44,506 43,279 42,014 39,831 41,263 Total non-performing assets $245,313 $228,604 $224,134 $124,813 $126,475 Allowance for credit losses for loans to non-performing loans 162.45% 177.19% 163.43% 350.17% 335.22% Non-performing loans to total loans 1.19% 1.08% 1.16% 0.54% 0.56% Non-performing assets to total assets 1.02% 0.93% 0.97% 0.55% 0.56% (1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release. Home BancShares, Inc.Consolidated Net Interest Margin(Unaudited) Three Months Ended September 30, 2026 June 30, 2026(Dollars in thousands) Average Balance Income/ Expense Yield/ Rate Average Balance Income/ Expense Yield/ RateASSETS Earning assets Interest-bearing balances due from banks $401,244 $3,546 3.51% $555,186 $5,135 3.71%Federal funds sold 4,743 43 3.60% 4,042 37 3.67%Investment securities - taxable 2,792,283 24,971 3.55% 2,936,008 25,787 3.52%Investment securities - non-taxable - FTE 1,174,643 10,113 3.42% 1,165,876 10,260 3.53%Loans receivable - FTE 17,055,603 298,739 6.95% 17,083,743 298,270 7.00%Total interest-earning assets 21,428,516 337,412 6.25% 21,744,855 339,489 6.26%Non-earning assets 2,791,365 2,780,403 Total assets $24,219,881 $24,525,258 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $12,209,970 $68,052 2.21% $12,392,404 $68,650 2.22%Time deposits 2,224,381 18,228 3.25% 2,301,685 18,782 3.27%Total interest-bearing deposits 14,434,351 86,280 2.37% 14,694,089 87,432 2.39%Federal funds purchased 11 — —% 30 — —%Securities sold under agreement to repurchase 151,203 1,009 2.65% 167,885 1,057 2.53%FHLB and other borrowed funds 351,588 3,255 3.67% 466,734 4,346 3.73%Subordinated debentures 279,689 2,359 3.35% 279,519 2,358 3.38%Total interest-bearing liabilities 15,216,842 92,903 2.42% 15,608,257 95,193 2.45%Non-interest bearing liabilities Non-interest bearing deposits 4,251,520 4,222,813 Other liabilities 181,041 158,476 Total liabilities 19,649,403 19,989,546 Shareholders' equity 4,570,478 4,535,712 Total liabilities and shareholders' equity $24,219,881 $24,525,258 Net interest spread 3.83% 3.81%Net interest income and margin - FTE $244,509 4.53% $244,296 4.51% Home BancShares, Inc.Consolidated Net Interest Margin(Unaudited) Nine Months Ended September 30, 2026 September 30, 2025(Dollars in thousands) Average Balance Income/ Expense Yield/ Rate Average Balance Income/ Expense Yield/ RateASSETS Earning assets Interest-bearing balances due from banks $504,055 $13,626 3.61% $664,308 $21,813 4.39%Federal funds sold 4,687 128 3.65% 5,037 164 4.35%Investment securities - taxable 2,887,538 75,486 3.50% 3,104,254 80,203 3.45%Investment securities - non-taxable - FTE 1,172,057 30,658 3.50% 1,121,481 30,294 3.61%Loans receivable - FTE 16,611,685 870,687 7.01% 15,056,440 830,691 7.38%Total interest-earning assets 21,180,022 990,585 6.25% 19,951,520 963,165 6.45%Non-earning assets 2,732,719 2,710,647 Total assets $23,912,741 $22,662,167 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Interest-bearing liabilities Savings and interest-bearing transaction accounts $12,158,366 $201,110 2.21% $11,450,902 $211,120 2.47%Time deposits 2,108,760 51,747 3.28% 1,866,855 52,117 3.73%Total interest-bearing deposits 14,267,126 252,857 2.37% 13,317,757 263,237 2.64%Federal funds purchased 14 — —% 19 — —%Securities sold under agreement to repurchase 156,986 2,993 2.55% 148,462 3,105 2.80%FHLB and other borrowed funds 438,979 12,293 3.74% 572,538 16,819 3.93%Subordinated debentures 279,521 7,072 3.38% 405,285 11,254 3.71%Total interest-bearing liabilities 15,142,626 275,215 2.43% 14,444,061 294,415 2.73%Non-interest bearing liabilities Non-interest bearing deposits 4,111,722 3,973,135 Other liabilities 172,277 201,228 Total liabilities 19,426,625 18,618,424 Shareholders' equity 4,486,116 4,043,743 Total liabilities and shareholders' equity $23,912,741 $22,662,167 Net interest spread 3.82% 3.72%Net interest income and margin - FTE $715,370 4.52% $668,750 4.48% Home BancShares, Inc.Non-GAAP Reconciliations(Unaudited) Quarter Ended Nine Months Ended(Dollars and shares in thousands, except per share data) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025NET INCOME (EARNINGS), AS ADJUSTED GAAP net income available to common shareholders (A)$129,451 $119,327 $118,209 $118,225 $123,604 $366,987 $357,216 Pre-tax adjustments Merger and acquisition expense — 12,726 394 580 — 13,120 — Gain on retirement of subordinated debt — — — — (1,882) — (1,882)FDIC special assessment credit — — (1,697) — — (1,697) (1,516)BOLI death benefits (528) (274) — — (187) (802) (1,430)Gain on sale of premises and equipment (710) — — — — (710) (983)Fair value adjustment for marketable securities 916 (817) 1,248 (1,173) (1,020) 1,347 (1,224)Special income from equity investment — — — — — — (7,389)Legal fee reimbursement — — — — — — (885)Legal claims expense — — — — — — 3,300 Recoveries on historic losses — — — — (2,040) — (2,040)Total pre-tax adjustments (322) 11,635 (55) (593) (5,129) 11,258 (14,049)Tax-effect of adjustments 50 2,901 (13) (231) (1,207) 2,938 (3,083)Total adjustments after-tax (B) (372) 8,734 (42) (362) (3,922) 8,320 (10,966)Net income, as adjusted (C) $129,079 $128,061 $118,167 $117,863 $119,682 $375,307 $346,250 Average diluted shares outstanding (D) 200,051 201,420 196,733 196,764 197,288 199,413 197,952 GAAP diluted earnings per share: (A/D) $0.65 $0.59 $0.60 $0.60 $0.63 $1.84 $1.80 Adjustments after-tax: (B/D) 0.00 0.05 0.00 0.00 (0.02) 0.04 (0.05)Diluted earnings per common share, as adjusted: (C/D) $0.65 $0.64 $0.60 $0.60 $0.61 $1.88 $1.75 ANNUALIZED RETURN ON AVERAGE ASSETS Return on average assets: (A/E) 2.12% 1.95% 2.09% 2.06% 2.17% 2.05% 2.11%Return on average assets, as adjusted: (ROA, as adjusted) ((A+D)/E) 2.11% 2.09% 2.09% 2.05% 2.10% 2.10% 2.04%Return on average assets excluding intangible amortization: ((A+C)/(E-F)) 2.30% 2.12% 2.25% 2.22% 2.34% 2.22% 2.28%Return on average assets, as adjusted, excluding intangible amortization: ((A+C+D)/(E-F)) 2.29% 2.27% 2.25% 2.22% 2.27% 2.27% 2.21% GAAP net income available to common shareholders (A)$129,451 $119,327 $118,209 $118,225 $123,604 $366,987 $357,216 Amortization of intangibles (B) 2,890 2,889 1,938 1,938 2,024 7,717 6,096 Amortization of intangibles after-tax (C) 2,186 2,185 1,466 1,466 1,529 5,837 4,607 Adjustments after-tax (D) (372) 8,734 (42) (362) (3,922) 8,320 (10,966)Average assets (E) 24,219,881 24,525,258 22,954,441 22,786,852 22,638,938 23,912,741 22,662,167 Average goodwill & core deposit intangible (F) 1,474,223 1,481,989 1,429,527 1,431,479 1,433,474 1,462,077 1,435,475 Home BancShares, Inc.Non-GAAP Reconciliations(Unaudited) Quarter Ended Nine Months Ended(Dollars in thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025ANNUALIZED RETURN ON AVERAGE COMMON EQUITY Return on average common equity: (A/D) 11.24% 10.55% 11.09% 11.04% 11.91% 10.94% 11.81%Return on average common equity, as adjusted: (ROE, as adjusted) ((A+C)/D) 11.20% 11.32% 11.08% 11.01% 11.54% 11.19% 11.45%Return on average tangible common equity: (ROTCE) (A/(D-E)) 16.59% 15.67% 16.56% 16.65% 18.28% 16.23% 18.31%Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) ((A+C)/(D-E)) 16.54% 16.82% 16.55% 16.60% 17.70% 16.59% 17.75%Return on average tangible common equity excluding intangible amortization: (B/(D-E)) 16.87% 15.96% 16.76% 16.85% 18.51% 16.48% 18.55%Return on average tangible common equity, as adjusted, excluding intangible amortization: ((B+C)/(D-E)) 16.82% 17.11% 16.76% 16.80% 17.93% 16.85% 17.98% GAAP net income available to common shareholders (A) $129,451 $119,327 $118,209 $118,225 $123,604 $366,987 $357,216 Earnings excluding intangible amortization (B) 131,637 121,512 119,675 119,691 125,133 372,824 361,823 Adjustments after-tax (C) (372) 8,734 (42) (362) (3,922) 8,320 (10,966)Average common equity (D) 4,570,478 4,535,712 4,324,720 4,248,856 4,115,884 4,486,116 4,043,743 Average goodwill & core deposits intangible (E) 1,474,223 1,481,989 1,429,527 1,431,479 1,433,474 1,462,077 1,435,475 EFFICIENCY RATIO & P5NR Efficiency ratio: ((D-G)/(B+C+E)) 40.78% 44.54% 41.59% 39.54% 40.21% 42.34% 41.35%Efficiency ratio, as adjusted: ((D-G-I)/(B+C+E-H)) 40.84% 40.46% 41.99% 39.53% 40.95% 41.07% 41.91%Pre-tax net income to total revenue (net) (A/(B+C)) 57.87% 52.32% 57.08% 54.35% 57.38% 55.69% 56.69%Pre-tax net income, as adjusted, to total revenue (net) ((A+F)/(B+C)) 57.75% 56.27% 57.06% 54.14% 55.53% 57.02% 54.95%Pre-tax, pre-provision, net income (PPNR) (B+C-D) $166,907 $159,603 $152,732 $167,723 $162,833 $479,242 $464,978 Pre-tax, pre-provision, net income, as adjusted (B+C-D+F) $166,585 $171,238 $152,677 $167,130 $157,704 $490,500 $450,929 P5NR(Pre-tax, pre-provision, profit percentage) PPNR to total revenue (net)) (B+C-D)/(B+C) 57.87% 54.08% 57.27% 59.46% 58.64% 56.37% 57.49%P5NR, as adjusted (B+C-D+F)/(B+C) 57.75% 58.03% 57.25% 59.25% 56.80% 57.69% 55.75% Pre-tax net income (A) $166,907 $154,403 $152,232 $153,323 $159,327 $473,542 $458,472 Net interest income (B) 241,993 241,643 223,904 231,586 226,166 707,540 660,774 Non-interest income (C) 46,446 53,454 42,803 50,500 51,505 142,703 148,010 Non-interest expense (D) 121,532 135,494 113,975 114,363 114,838 371,001 343,806 Fully taxable equivalent adjustment (E) 2,516 2,653 2,661 2,252 2,916 7,830 7,976 Total pre-tax adjustments (F) (322) 11,635 (55) (593) (5,129) 11,258 (14,049)Amortization of intangibles (G) 2,890 2,889 1,938 1,938 2,024 7,717 6,096 Adjustments: Non-interest income: Gain on retirement of subordinated debt $— $— $— $— $1,882 $— $1,882 Fair value adjustment for marketable securities (916) 817 (1,248) 1,173 1,020 (1,347) 1,224 Gain (loss) on OREO 81 332 707 203 (1) 1,120 (364)Gain (loss) on branches, equipment and other assets, net 744 3 (7) 11 (66) 740 743 Special income from equity investment — — — — — — 7,389 BOLI death benefits 528 274 — — 187 802 1,430 Legal fee reimbursement — — — — — — 885 Recoveries on historic losses — — — — 2,040 — 2,040 Total non-interest income adjustments (H) $437 $1,426 $(548) $1,387 $5,062 $1,315 $15,229 Non-interest expense: FDIC special assessment credit — — (1,697) — — (1,697) (1,516)Merger and acquisition expenses — 12,726 394 580 — 13,120 — Legal claims expense — — — — — — 3,300 Total non-interest expense adjustments (I) $— $12,726 $(1,303) $580 $— $11,423 $1,784 Home BancShares, Inc.Non-GAAP Reconciliations(Unaudited) Quarter Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 TANGIBLE BOOK VALUE PER COMMON SHARE Book value per common share: (A/B) $22.74 $22.68 $22.15 $21.88 $21.41 Tangible book value per common share: ((A-C-D)/B) 15.35 15.32 14.87 14.60 14.13 Total shareholders' equity (A) $4,529,761 $4,547,435 $4,349,585 $4,296,871 $4,214,964 End of period common shares outstanding (B) 199,210 200,460 196,394 196,357 196,889 Goodwill (C) 1,410,211 1,410,211 1,398,253 1,398,253 1,398,253 Core deposit and other intangibles (D) 62,651 65,541 30,355 32,293 34,231 TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS Equity to assets: (B/A) 18.76% 18.40% 18.75% 18.78% 18.56% Tangible common equity to tangible assets: ((B-C-D)/(A-C-D)) 13.48% 13.22% 13.42% 13.36% 13.08% Total assets (A) $24,145,664 $24,713,248 $23,201,679 $22,881,879 $22,707,802 Total shareholders' equity (B) 4,529,761 4,547,435 4,349,585 4,296,871 4,214,964 Goodwill (C) 1,410,211 1,410,211 1,398,253 1,398,253 1,398,253 Core deposit and other intangibles (D) 62,651 65,541 30,355 32,293 34,231 Home BancShares, Inc.Shareholder Buyback Yield(Unaudited) Quarter Ended Nine Months Ended(Dollars and shares in thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025SHAREHOLDER BUYBACK YIELD Shareholder buyback yield: (A/B) 0.69% 0.77% 0.25% 0.27% 0.18% 1.73% 1.19% Shares repurchased 1,300 1,500 508 541 350 3,308 2,350 Average price per share $30.20 $26.94 $27.32 $27.26 $28.34 $28.28 $28.33 Principal cost 39,262 40,415 13,877 14,747 9,918 93,554 66,575 Excise tax 376 386 1 141 93 763 669 Total share repurchase cost (A) $39,638 $40,801 $13,878 $14,888 $10,011 $94,317 $67,244 Shares outstanding beginning of period 200,460 196,394 196,357 196,889 197,239 196,357 198,882 Price per share beginning of period $28.55 $26.93 $27.78 $28.30 $28.46 $27.78 $28.30 Market capitalization beginning of period (B) $5,723,133 $5,288,890 $5,454,797 $5,571,959 $5,613,422 $5,454,797 $5,628,361 Photos accompanying this announcement are available at:
, /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential breaches of fiduciary duties by the directors and officers of Sprout Social, Inc. (NASDAQ: SPT).
If you currently own shares of Sprout Social stock, please visit the firm's website at https://rosenlegal.com/cases/sprout-social-inc/join for more information. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected].
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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CoreWeave uvedla, že hodnota nasmlouvaných zakázek ve 2. čtvrtletí dosáhla 104,2 mld. USD a měla by pokrýt její dluhové závazky; akcie ve středu klesly zhruba o 15 %.
CoreWeave (CRWV.O) CEO Mike Intrator said on Wednesday market can sometimes "misunderstand and act irrationally", with shares of the AI cloud-computing provider closing down around 15%.
Here are some details:
The company's deal backlog is large enough to more than support its debt obligations, Intrator told employees in a memo that was seen by Reuters
Issues such as the difficulties and delays observed in the attempted IPOs and debt financings of some of CoreWeave's rivals "are bleeding into the narrative around CoreWeave", Intrator said in the memo
According to Bloomberg News, which first reported on the remarks earlier in the day, CoreWeave's bonds have plunged to levels that typically indicate distress
CoreWeave's unsecured debt due in 2032 traded below 80 cents on the dollar on Wednesday, Bloomberg News said in a separate report citing Trace pricing data
CoreWeave has reported revenue backlog of $104.2 billion in the second quarter, up from $99.4 billion in the first quarter
On top of the backlog, the company said it had secured more than $25 billion of net new customer commitments in the third quarter
WASHINGTON--(BUSINESS WIRE)--CAVA Group, Inc. (NYSE: CAVA), the category-defining Mediterranean fast-casual restaurant brand that brings heart, health, and humanity to food, will host a conference call on Wednesday, November 4, 2026 at 5:00 PM Eastern Time to discuss third quarter 2026 financial results and provide a business update.
A press release with third quarter financial results will be issued at approximately 4:10 PM Eastern Time on Wednesday, November 4, 2026.
The call will be webcast live from the Company’s website on the investor relations page at investor.cava.com. A recorded webcast will be available on CAVA’s investor relations website shortly after the call and available for up to one year.
About CAVA
CAVA is the category-defining Mediterranean fast-casual restaurant brand bringing together bold, healthful flavors and ingredients at scale. A founder-led company, CAVA is guided by the belief that food should taste as good as it makes you feel, and that great meals and warm Mediterranean hospitality go hand in hand. Across 500 restaurants in 30 states and Washington, D.C., guests can choose from an abundant selection of chef-curated or build your own bowls and pitas to meet their dietary and taste preferences. There are more than 17 billion possible ingredient combinations, featuring a variety of proteins, vegetables, signature dips such as Crazy Feta®, house-made beverages, and more. Guided by its mission to bring heart, health, and humanity to food, CAVA provides meaningful career opportunities for more than 15,000 team members and continues to invest in its people and communities. Learn more at cava.com.
Shares of Skydance Corp. fell Wednesday after the newly formed media giant distributed nearly 471 million stock warrants to shareholders.
Skydance shares fell as much as 26% in Wednesday trading, trading at $6.68 per share as of 11:35 a.m. ET. The stock later pared some of those losses, closing down 22.2% at $7.06 a share.
The company distributed about 470.7 million warrants on Oct. 13 following its acquisition of Warner Bros. Discovery, according to a Securities and Exchange Commission (SEC) filing.
Warrants give investors the right to buy shares at a set price before they expire.
PARAMOUNT REACHES SETTLEMENT WITH STATES SUING TO BLOCK WARNER BROS DISCOVERY TAKEOVER
Shares of Skydance Corp. fell Wednesday after the newly formed media giant distributed nearly 471 million stock warrants to shareholders. (ÂPhoto by Richard B. Levine)
Eligible shareholders received one warrant for each share of Skydance Class B common stock they held as of the Oct. 5 record date. Each warrant allows the holder to buy one Skydance Class B share for $12.
If all the warrants are exercised, Skydance could raise about $5.7 billion, according to the company.
The warrants are set to expire in October 2036, although they could expire earlier under certain conditions.
The warrant distribution followed Skydance's completion of its $110 billion takeover of Warner Bros. Discovery. The deal brought brands including CBS, CNN, Paramount+ and HBO Max under one company, according to Reuters.
WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEAL
The warrant distribution followed Skydance's completion of its $110 billion takeover of Warner Bros. Discovery. (Ringo Chiu/Reuters)
The combined company began trading on the New York Stock Exchange under the ticker "SKYD" following the deal.
Wells Fargo analysts said the warrant distribution marked the "final step" in closing the Warner Bros. Discovery transaction, according to Variety.
CEO David Ellison has said the merger would help Skydance better compete with streaming and technology giants including Netflix and Amazon, Reuters reported.
Skydance plans to combine HBO Max and Paramount+ into a single streaming service while pursuing about $6 billion in planned savings.
CALIFORNIA CRACKS DOWN ON LOUD STREAMING ADS UNDER NEW STATE LAW
CEO David Ellison has said the merger would help Skydance better compete with streaming and technology giants including Netflix and Amazon. (Jeenah Moon/Reuters)
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The combined company is expected to carry roughly $80 billion in debt, according to Reuters.
AUD/USD před zveřejněním australské zprávy o zaměstnanosti vykazuje medvědí signály; míra nezaměstnanosti ve výši 4,7 % či více by mohla zvýšit tlak na měnový pár.
The Australian dollar is showing signs of vulnerability against the US dollar and Japanese yen, with bearish inverted hammer candles emerging on both AUD/USD and AUD/JPY. A potential swing high near 70c on AUD/USD adds to the downside risks ahead of Australia's employment report, particularly if unemployment rises faster than the RBA expects.
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AUD/USD and AUD/JPY Face Bearish Reversal Risks Ahead of Australian Jobs Data
AUD/USD Technical Analysis: Australian Dollar vs US Dollar
While we have time on our sides to see if that is indeed a large head and shoulders top in play on the weekly charts, AUD/USD is setting up for a potential swing high around 70c.
The daily chart shows a volatile inverted hammer formed on the daily chart, with a false break of its 20—day EMA and the 20-day capping the daily high as resistance. With a high-to-low range of 0.9%, it marked a 1-standard deviation range and its most volatile in eight. The face it still closed lower despite much of that range being earlier in the day plays to the advantage of bears, as it could realign momentum with the higher-timeframe head and shoulders pattern.
For now, perhaps we’re simply looking for a move down to 69c near its October low.
Source: ICE, TradingView
AUD/JPY Technical Analysis: Australian Dollar vs Japanese Yen
A similar setup may be emerging on AUD/JPY, though the daily chart doesn’t quite have the same bearish structure as AUD/USD. But the daily chart does also show an inverted hammer candle – with its most volatile daily range in seven.
The 200-day EMA is supporting for now, though a break of its also invalidates yesterday’s low for bears to assume bearish continuation.
A cluster of historical resistance levels including the 191 and 2024 highs make potential support levels over the near term, or intraday day targets for bears. But we need to see a clear break of the March and October low (108.78) before assuming bears have truly regained control. But if they do, the next major support level is the December VPOC near 106.52.
Source: ICE, TradingView
Australian Employment Report Could Pressure AUD/USD Bulls
Australia’s labour force report lands in a few hours. We know the RBA has retained a hawkish tone and that policymakers are concerned inflation may be more broad-based than simply high energy prices. This places CPI reports front and centre, though employment still matters to a degree.
Moreover, unemployment has been rising at a faster pace than the RBA’s own forecasts, so an unemployment rate of 4.7% or higher could cause further issues for Australian dollar bulls. And while job growth has been positive, part-time employment has been the main driver, while full-time employment has been slightly negative.
So the ideal scenario for AUD/USD bears is a rising unemployment rate alongside negative full-time job growth, with a contraction in headline employment being the cherry on top.
With most of 2026 in the books, investors are beginning to look ahead to what's coming next year for the stocks in their portfolios or the companies they've been thinking about adding to them. For many, one of those may be Space Exploration Technologies (SPCX -2.80%), as it was one of the most highly anticipated public offerings of the year and drew plenty of interest on its June 12 debut.
Let's look at a base case and a bear case to see what $10,000 invested in SpaceX today might be worth by the end of 2027.
Image source: The Motley Fool.
The base case for SpaceX To stay on the more conservative side of where SpaceX could trade, we'll use the median one-year price target and the lowest price target from analysts as a baseline. Giving the stock until the end of December 2027 rather than mid-October 2027 to reach those price targets can help keep expectations reasonable.
Analysts are generally bullish on the stock. According to CNN, of the 46 who cover SpaceX, 76% rate it a buy, 15% a hold, and 9% a sell. Within that group, the median one-year price target is $217, which we can use as a conservative estimate of where the stock might trade around by December 2027.
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If an investor made a $10,000 investment in SpaceX at the Oct. 12 closing price of $163.42, through fractional investing, that would yield over 61 shares. If SpaceX were to reach $217 per share, that $10,000 investment would grow to a stake worth approximately $13,278. For the stock price to get there, SpaceX would likely need to show continued progress in growing revenues through its space, connectivity, and artificial intelligence (AI) divisions. Its top line totaled $7.8 billion in the second quarter of 2026, a 92% increase from the prior-year period.
It could also show continued progress in generating revenue from renting out excess AI compute capacity from its data centers. SpaceX currently has cloud deals with Anthropic, Alphabet, and Reflection AI. Combined, the deals with Alphabet and Anthropic could be worth $26 billion annually. In comparison, the Reflection AI deal is worth $150 million per month and could be worth $6.3 billion in total if the deal runs through to its 2029 endpoint.
The bear case Among the analysts covering SpaceX, the lowest has a 12-month price target of just $75 on the stock. If it were to hit that price, a $10,000 investment made today would shrink by more than half to approximately $4,589.
There are a couple of obvious broad scenarios that could result in that type of drop. One would involve a general market sell-off, and another would be a more focused sell-off in AI stocks. But there are a few more company-specific risks, such as worries about its heavy spending and its lack of profitability. In the second quarter of 2026, SpaceX's capital expenditures climbed to $18.4 billion compared to $2.8 billion in the prior-year period. Meanwhile, the company delivered a loss of $541 million. While that was better than the $1 billion in losses that it reported in the prior-year period, SpaceX remains unprofitable.
What to consider next Price targets aren't guarantees, but they can aid people in making their investing decisions by offering a framework for gauging if the risk is worth the potential reward. And that risk-vs.-reward balance for SpaceX looks favorable over the next year. But the stock price could just as easily keep hovering in the range where it's trading now or sink back below its IPO price again.
For the company to accomplish its goals, such as deploying a constellation of AI data center satellites in Earth orbit, it will take more time. If SpaceX executes on those endeavors, stock price appreciation can follow, but the most meaningful gains under that circumstance will accrue to those with long-term investment horizons.
Apple (AAPL +0.49%) is one of the most iconic companies in the world. It's also one of the largest, with a market cap of $5 trillion. Its stock has also been a huge winner over the past decade, up more than 1,070% during that stretch. With just under $10,000, you could buy 29 shares of the stock.
The company is best known for its popular iPhone, which makes up roughly half its total sales and around 70% of its product sales. Meanwhile, Macs (computers), iPads (tablets), and wearables (smartwatches, headphones, and other accessories) each make up around 10% of its product revenue.
These products tend to have fairly predictable replacement cycles, which leads to relatively stable sales. Meanwhile, the company's newer, higher-priced foldable iPhone and recent price increases should be a nice revenue growth driver.
Image source: The Motley Fool.
While Apple only holds around 20% of the global smartphone market, it importantly has a strong position among affluent customers. The iPhone has well over 50% share of the U.S. smartphone market and is often seen as more of a luxury item in international markets. This is important because it feeds directly into the company's important services segment.
The great thing about Apple's business is that once someone buys one of its devices, they tend to get locked into the company's ecosystem. The company has built a high-end reputation, and its devices work together seamlessly. Meanwhile, switching becomes more difficult the more apps and subscriptions you buy and photos you take.
This all leads to high retention, which in turn feeds into Apple's high-gross-margin services business. The company makes money here through things like cloud storage and the sales of apps and subscriptions on its devices. It also gets a 36% share of the revenue from Google searches on its devices through an agreement with Alphabet. Finally, it generates revenue by taking a small cut from Apple Pay transactions.
Overall, Apple's services segment consistently grows its revenue in the low to mid-teens and has a mid-70% gross margin, significantly higher than its product segment's gross margin of roughly 40%. This leads to its profit growth nicely outpacing its revenue growth.
Where Apple could trade in five years Apple has one of the best compounding businesses on the planet, which benefits long-term investors. However, the one thing working against the stock at the moment is its valuation. Before the pandemic, Apple stock generally traded at a price-to-earnings (P/E) ratio between 15 and 20, while today its P/E is closer to 40, and its forward P/E is roughly 35.5, based on fiscal 2027 (ending September) analyst estimates.
Analysts currently forecast that the company's adjusted earnings per share (EPS) will rise from $8.83 this fiscal year (ending September 2026) to $15.12 in fiscal 2030. Add another 10% EPS growth the following year, and it would generate adjusted EPS of $16.63 in fiscal 2031.
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Now the question becomes what type of multiple Apple should command. It's a great business, but the stock appears to be ahead of itself following years of multiple expansion. Assign the stock between a 20 times and 30 times forward P/E, and it would trade between $330 and $500. That represents between a 3% decline in the stock and a 47% gain. At the midpoint, the stock could see a 22% gain, and a just-under-$10,000 investment would be worth between $9,570 and $14,500.
Given Apple's multiple expansion over the past several years, it's pretty likely the stock will underperform the market over the next five years. Either it has to sustain its bloated multiple, which is certainly possible, or it needs to greatly outperform expectations, which may not be easy given the size of its business.
As such, this is a growth stock that I'd pass on buying at the moment.
Last month, Tesla (TSLA -2.15%) launched the Cybercab, its first autonomous vehicle (AV) built for commercial service, in Austin, Texas. Every driverless ride before the launch used a modified Model Y. The Cybercab is a two-seat vehicle with no steering wheel, accelerator, or brake pedal.
Robotaxis could be one of the main drivers of future growth for Tesla stock. After a little over a month of Cybercab service in Austin, demand is strong, but it's still a fairly small-scale operation.
Image source: Tesla.
The latest Tesla Cybercab numbers Tesla has 739 AVs registered with the Texas Department of Motor Vehicles as of Oct. 10, including 420 Model Y vehicles and 319 Cybercabs. Those numbers have risen rapidly. On Sept. 4, the day Cybercab service launched in Austin, Tesla had 420 AVs registered, including 45 Cybercabs. Its fleet has expanded significantly, most notably when it registered 150 Cybercabs on Oct. 8.
That's the statewide total, though, and just because an AV is registered doesn't necessarily mean it's actively giving rides. RobotaxiTracker, a third-party tracking platform, reports that Tesla has 277 in-service autonomous vehicles in Austin, of which 107 are Cybercabs.
For comparison, Waymo has a fleet of over 300 autonomous vehicles in Austin, according to RobotaxiTracker, so Tesla's fleet is in the same ballpark. However, Waymo is the more convenient option, as it's available 24/7 through the Uber app. Tesla offers robotaxi service in Austin from 6 a.m. to 11 p.m. CEO Elon Musk has said this is to avoid running over small pets, which are hard to see at night. Tesla is aiming to solve that issue so it can have robotaxis in service around the clock.
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Although Cybercabs make up 39% of Tesla's robotaxi fleet in Austin, they account for a much smaller share of rides. There have been 531 Cybercab rides reported on RobotaxiTracker so far, accounting for about 11% of Tesla's total robotaxi rides in Austin.
A promising start, with a long way to go When it comes to Tesla's robotaxis, the number of registered vehicles gets the most attention, but what really matters is how many people are using the service. The demand is there, as demonstrated by Waymo's success so far. But Waymo has the advantage of being offered through Uber's app, which has over 200 million monthly users. You need to download the Tesla Robotaxi app to use its service.
On a positive note, anyone in Austin who's 13 or older can now hail a Tesla Cybercab. The service covers 264 square miles, which is most of the city. Tesla's robotaxi service has started out with high demand. Wait times topped an hour on launch day, and the Tesla Robotaxi app reached No. 1 in the App Store's travel category.
Going forward, investors should monitor Tesla's fleet size, particularly the number of in-service Cybercabs and reported Cybercab rides. It's also important that Tesla expand the service to other cities and provide 24/7 availability, since demand for ride-hailing services tends to spike at night after bars close. If Tesla can roll out robotaxi service in more major metro areas, it could be a sizable new source of revenue for the EV maker.
On Nov. 16, 2022, Nvidia (NVDA -3.16%) reported results for the third quarter of fiscal 2023. It wasn't a great report. The chip designer missed Wall Street's average bottom-line target, even.
Revenue fell 17% year over year, and gaming sales were cut in half. New U.S. export rules blocked its top data center chips from China. Management took a $702 million inventory charge for products it no longer expected to sell in the Chinese market. If you skimmed the headlines that evening and went back to your couch, nobody could blame you.
Two weeks later, OpenAI released ChatGPT, and the tech world went bananas. Nvidia was already shipping chips to support the generative AI wonder. The stock was worth roughly $390 billion back then, and $5.5 trillion in October 2026. Things have changed, and November 2022 was a turning point.
So I went back and checked out that ho-hum earnings call. Hindsight is cheating, I know. It's also a pretty good way to learn what an early signal might look like before it becomes obvious.
Nvidia CEO Jensen Huang. Image source: Nvidia.
The ghost in the gaming numbersNvidia still had a gamer's reputation. The pandemic graphics card frenzy, further juiced by crypto miners, had ended with a whimper. Its ghost was haunting the sales channel in the form of unsold inventory and secondhand cards on eBay. When an analyst asked about leftover mining hardware, CEO Jensen Huang said he didn't expect blockchain to be an important part of the business anymore.
In 2022, it sounded like Huang dodging an uncomfortable question in the middle of a crypto winter. He was absolutely right, though. Ethereum switched from GPU-based mining to a proof-of-stake system in September that year, and specialized processors were already orders of magnitude better for mining Bitcoin. Even if the AI boom hadn't been around the corner, the crypto-mining surge was over.
Meanwhile, in the other corner of the income statement, data center revenue rose 31% to a record $3.8 billion. Gaming fell 51% to $1.6 billion. Just one year earlier, gaming had been the bigger segment. By this quarter, data center was about 2.4 times its size and made up nearly two-thirds of total revenue.
The new pillar of the business had been poured and set while most of the attention stayed on the gaming wreckage.
Nvidia named the trend before it had a mascotWhat gets me is that management wasn't hinting. CFO Colette Kress credited data center growth to workloads like "large language models, recommendation systems and generative AI." Huang called it "the beginning of the era of generative AI." The investor presentation flatly stated that LLMs "are widely viewed as the most important AI models today."
Many investors still had to look up what LLM meant. This was before ChatGPT turned the acronym into casual dinner-table material.
The deck also had a chart about the computing power needed to train transformer-based AI models. It was growing about 275 times every two years, versus 8 times for everything else. Squint at that chart as a sales forecast for an AI chip company, and it starts to look exciting.
Image source: The Motley Fool.
Then came the metaverse slideThe deck didn't stop at LLMs. The very next slide pitched Nvidia's Omniverse computing systems as a foundation for the metaverse. A later slide declared metaverse applications "the next wave." The company's $1 trillion market opportunity slide gave Omniverse software the same $150 billion estimate as AI enterprise software.
On paper, it was a coin flip. Facebook had renamed itself Meta Platforms (META -3.27%) about a year earlier. In an alternate universe, virtual reality worlds might have taken the spotlight that AI stole in 2022 and 2023.
To be fair to Nvidia, Omniverse was mostly aimed at industrial digital twins for factories and rail networks, not cartoon avatars, and the product is still around. It just isn't what turned Nvidia into a $5.5 trillion company.
The unglamorous plumbingHuang spent several answers on networking. He argued that high-performance interconnects pay for themselves in large AI data centers. The deck described the network and storage as part of "the computing fabric," not separate add-ons. Microsoft (MSFT -1.80%) was about to launch an AI infrastructure platform, running entirely on Nvidia's InfiniBand networking. That systems-level approach helps explain why Nvidia captured so much of the AI spending wave, not just the GPU slice.
Microsoft also happened to be OpenAI's biggest backer. Nobody on the call connected those dots.
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The H100 was already rollingNvidia started shipping its H100 data center GPU during the quarter. Huang said customers were "clamoring" for it. He expected large volumes by early 2023, a faster ramp than the prior generation. The slide deck said partners would roll out the first wave of H100 products and services in fiscal Q4. ChatGPT launched in that same quarter.
Timing like that is hard to plan. For investors, the signs were hiding in plain sight.
What I'd borrow from this callNone of this guaranteed what happened next. Nvidia guided for $6.0 billion in fourth-quarter revenue, barely above the third quarter. China export restrictions, inventory charges, and a gaming slump dominated the near-term picture.
Yet, data center revenue was growing while everything else shrank. Management was talking specifically about LLMs and generative AI. A new flagship chip was ramping into exactly those workloads.
Those three signals are worth watching for in any earnings call: which segment keeps growing through a downturn, and which topics management keeps returning to.
Microsoft představil AI čip Maia 300, který má ve srovnání s GPU zpracovat o 40 % více tokenů na megawatt a snížit náklady na AI; výroba začne v roce 2027.
On Monday, Microsoft (MSFT -1.80%) unveiled its latest AI chip architecture, the Maia 300.
And the company went out of its way to point out the ways in which the Maia 300 was superior to graphics processing units (GPUs). "This is our biggest bet yet on our own silicon," said CEO Satya Nadella.
This was seen as a shot across the bow to the world's premier GPU maker, Nvidia (NVDA -3.16%).
So is the Maia 300 the "Nvidia killer" that everyone has been anticipating for years? It might be, but not in the way you might think. Here's what's really going on.
Image source: The Motley Fool.
Cutting the cost of AI The Maia 300 is an upgraded version of the Maia 200, which was released in January.
The Maia 200 is currently in production and has already been deployed at Microsoft facilities in Iowa and Arizona, where it's used instead of GPUs and other components from Nvidia, Intel (INTC -4.56%), and Advanced Micro Devices (AMD -5.73%).
Microsoft claims the new, upgraded Maia 300 chip is even more economical and can process 40% more tokens per megawatt when compared to GPUs. A higher token-per-megawatt ratio results in lower AI costs because the biggest expense for an AI data center is electricity.
But even if it's cheaper to operate, it's certainly not going to match the power of Nvidia's top-of-the-line systems. Won't that be an issue?
It's not always about being first Perhaps more than any other company, Microsoft has done very well by coming in second. Its Azure cloud platform is the second-largest, compared to Amazon's Amazon Web Services. Its Surface tablets have never outsold Apple's iPad. Its Xbox has always played second fiddle to the Sony PlayStation.
So it shouldn't surprise anyone that Microsoft isn't trying to beat Nvidia at its own game, but to compete on a more favorable playing field: cost. "Moving data efficiently, rather than raw compute power, is increasingly the bottleneck in large inference systems," Microsoft said in its blog post announcing the Maia 300 system. The company hopes to leverage this to its advantage.
Image source: Getty Images.
Austin Lyons, an analyst for Chipstrat, thinks there's an opportunity here in optimizing different AI processors for different tasks. "The advantage of custom silicon is that Microsoft can optimize for the latency its own workloads actually require," he wrote. "A meeting summary and a coding agent don't need the same response time. Maia targets more throughput at each of those latency points, translates to more useful tokens served per megawatt and lower cost passed for customers."
Pat Moorhead of Moor Insights & Strategy agrees, writing:
Microsoft is now moving toward deploying Maia at meaningful production scale. At that scale, custom silicon isn't just about performance. It can become an important margin driver by improving the economics of delivering Microsoft's own AI services.
The AI race is changing Lyons and Moorhead are echoing commentary from across the industry that suggests the AI race is evolving away from a zero-sum contest to create the fastest, most powerful processors. Hyperscalers and other major players are starting to think about the economics of AI and what customers will be willing to pay in an era where the tech giants start to monetize the new technology.
By running lower-difficulty, in-house AI queries on processors that operate more cheaply, Microsoft is taking another step in proactive cost management, which is one of the key reasons investors rewarded the stock earlier this year.
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So while the Maia 300 isn't an Nvidia killer on its own, it's evidence that the most powerful AI processors -- currently Nvidia's GPUs -- may not be everyone's universal first choice in the future for every application. Routing an AI query to the cheapest infrastructure possible for the difficulty of the problem presented may become the norm.
In other words, even if Nvidia continues to produce the best tech in the world for decades to come, its sales volume might suffer regardless.
Nvidia will still be in the mix The Maia 300 doesn't even begin production until sometime in 2027. And even then, Nvidia AI infrastructure is almost certain to remain a critical part of Microsoft's AI mix.
Just last week, Microsoft started taking preorders for a new Surface Laptop Ultra with a starting price of $2,599. That hefty price tag is thanks to its powerful processor that can run AI models without requiring cloud access.
The maker of that incredibly powerful chip? You guessed it: Nvidia.
Společnost ExxonMobil získala průzkumná práva k hlubokomořskému bloku TTUD-1 u Trinidadu a Tobaga; první průzkumný vrt může následovat na konci roku 2027 nebo začátkem roku 2028.
ExxonMobil (XOM +1.68%) is looking for its next major offshore oil discovery, and Trinidad and Tobago could be where it finds one. The company has secured exploration rights to a massive deepwater block near Guyana, where Exxon and its partners have already discovered roughly 11 billion barrels of recoverable oil resources.
Exxon's head of global exploration, John Ardill, recently told the Financial Times that the company sees Trinidad as a geological extension of its successful Guyana operations. But there's a difference between identifying promising geology and discovering billions of barrels of oil. So the question is: Should you buy Exxon now or wait until the company drills its first exploration well?
Why Trinidad could become another Guyana
Exxon's Trinidad exploration block, known as TTUD-1, covers approximately 7,165 square kilometers, an area larger than Trinidad and Tobago's entire landmass. The block lies in waters roughly 2,000 to 3,000 meters deep, making exploration technically challenging and expensive. But Exxon has a lot of experience operating in similar conditions.
Image source: Getty Images.
In 2015, the company made its landmark Liza discovery offshore Guyana. Since then, Exxon and its partners have made more than 30 discoveries, transforming Guyana into one of the world's fastest-growing oil-producing countries. By late 2025, production had reached approximately 900,000 barrels per day.
Exxon and its partners have committed more than $60 billion to developing Guyana's offshore resources, with plans that could eventually lift production capacity to approximately 1.7 million barrels per day by 2030. Now the company wants to apply that same development strategy to Trinidad.
Exxon actually negotiated its Trinidad production-sharing agreement in just seven months, which is significantly faster than the usual process. It now expects to select its first drilling location by mid-2027, with an initial exploration well potentially following in late 2027 or early 2028.
If the well produces encouraging results, the company could move toward additional exploration and eventual development. Of course, there's no guarantee Trinidad contains anything close to Guyana's enormous resources. But that wouldn't be the end of the world.
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Exxon doesn't need Trinidad to succeed
If you're considering buying shares of Exxon today, you're not buying a company dependent on one speculative exploration project. In the second quarter of 2026, Exxon reported $14.5 billion in earnings, or $3.48 per share. Operating cash flow reached $23.6 billion, while free cash flow totaled $17.2 billion. The company also returned $9.4 billion to shareholders during the quarter, including $4.3 billion in dividends and $5.1 billion in share repurchases.
Meanwhile, its existing operations continue expanding. In fact, Exxon is increasing production in the Permian Basin where output reached a record 1.8 million oil-equivalent barrels per day in Q2 2026, and its fifth offshore production vessel in Guyana is expected to begin operations in Q4, adding another 250,000 barrels per day of production capacity.
So Trinidad really just represents another potential source of long-term growth, not the foundation of Exxon's current profitability. And that gives you some flexibility. In other words, a disappointing Trinidad exploration result wouldn't erase Exxon's established production, refining operations, or cash-generating assets.
I'd lean toward buying Exxon before the first Trinidad well, particularly if you're planning to hold the stock for several years. Waiting for a successful discovery could provide greater confidence in Trinidad's resource potential. But it could also mean buying after some of that optimism has already been priced in.
That said, I wouldn't buy the stock solely because management hopes to repeat Guyana's success. Exploration wells can disappoint, and commercial production would likely remain years away even after a discovery. But if you want exposure to a financially established energy company with additional growth potential, I see little reason to make a Trinidad drilling result the deciding factor. Exxon's existing business supports the investment case. A major Trinidad discovery would just be an added benefit.
EUR/USD Outlook: MUFG Links Sub-1.10 Risk to Higher US Yields
Hotter US inflation has reinforced MUFG's downside scenario for the Euro against the US Dollar, despite its doubts about the scale of Fed tightening.
MUFG's warning that the Euro could fall below $1.10 has gained relevance after stronger-than-expected US inflation revived the case for higher interest rates.
The bank outlined that possibility before Wednesday's CPI release, linking it to its projections for US two-year Treasury yields and a potential rise in the Dollar Index to 105.
At the time of writing, EUR/USD traded near $1.1153, down 0.43% from Tuesday's close, having recovered some ground from the afternoon sell-off.
Derek Halpenny, MUFG's head of research for global markets EMEA and international securities, wrote ahead of the data: "Based on our 2-year UST bond yield projections, the DXY could certainly advance to the 105-level that would imply EUR/USD potentially falling below the 1.1000-level."
This is a conditional downside scenario, with no deadline attached to the exchange-rate level.
Image: EUR/USD intraday chart post US inflation release.
The inflation surprise MUFG had warned about
The September CPI release showed prices excluding food and energy rose 0.3% on the month, against expectations of 0.2%, while annual headline inflation reached 3.7%.
Before the release, Halpenny wrote: "Near-term though the Fed look set to hike again and any upside surprise in today's data would likely trigger another rates sell-off and extend the dollar further stronger."
Selling Treasury bonds pushes their yields higher, and the two-year yield is particularly sensitive to the expected path of Fed interest rates.
Higher prospective returns on Dollar assets can then attract demand for the currency, providing the link between MUFG's yield projections and its EUR/USD warning.
The bank had set a demanding condition for a move in the opposite direction: "A consensus CPI print today is unlikely to alter rate expectations much and a meaningful miss to the downside (0.0% m/m core) would be required to see a notable dollar sell-off."
Wednesday's result went the other way, though it does not establish how far the subsequent repricing will run.
Halpenny had acknowledged a reason to tighten policy ahead of clearer evidence of wider inflation: "It's understandable that precautionary rate hikes will be seen as sensible given the risks of pass-through."
Why MUFG still questions a longer hiking cycle
Halpenny's pre-release policy view for December 2026 and beyond was explicit: "Still, we remain sceptical that inflation pressures will continue to build and while we expect the Fed to hike again in December, we do not expect the Fed to deliver the two further rate hikes currently priced by the markets."
"The inflation backdrop doesn't appear to be as bad as might have been expected when the conflict first started and if an assumption had been made that it would still be impacting energy supplies by the following October."
That position rested partly on the recent behaviour of core personal consumption expenditures inflation, a separate measure from CPI.
He wrote: "Taking the PCE measure of inflation, the annualised 3mth change fell in August to the Fed's 2.0% inflation target for the first time since July 2024."
The three-month annualised reading measures recent momentum, rather than the annual headline PCE change used in the Fed's longer-run inflation objective.
It also predates September's stronger CPI report.
Halpenny added: "There is little evidence of pass-through that likely reflects the fact that the non-AI economy in the US remains relatively weak."
That judgement now faces a more difficult test, with RBC's post-release warning about spreading price pressures, covered by Exchange Rates UK, highlighting the risk that higher transport and import costs are reaching a wider range of goods.
MUFG also questioned how restrictive policy would become if the anticipated hikes were delivered as inflation moderated.
Halpenny wrote: "If we project forward current market pricing for the Fed's policy rate by the middle of next year and use the consensus inflation forecast, the implied real fed funds rate reaches 2.60%, not far from the peak restrictiveness seen following the global inflation shock."
"We don't believe the Fed will need to raise rates to that level."
The calculation describes borrowing costs adjusted for expected inflation under market pricing, rather than MUFG's own forecast for the nominal policy rate.
A retreat in those expectations would weaken an important source of Dollar support, but prolonged energy disruption remains a risk to that outcome.
Halpenny warned: "Inflation risks ahead remains the dominant concern of central bankers given the extended period of elevated energy prices risks feeding more broadly into non-energy inflation."
Oracle (ORCL -8.83%), an enterprise cloud software and database platform provider, closed at $130.55, down 8.83%. Oracle fell on Wednesday after hotter-than-expected September Consumer Price Index (CPI) data lifted Treasury yields and revived rate-hike bets. Investors are also watching AI cloud expansion costs and the next earnings update on December 14, 2026.
Trading volume reached 50.4 million shares, coming in about 61% above its three-month average of 31.3 million shares.
How the markets moved todayS&P 500 (SNPINDEX: ^GSPC) closed at 7,721, down 1.08%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 26,693, down 1.88%. Among enterprise software, cloud infrastructure, and database management peers, Salesforce (CRM -0.87%) closed at $236.00, down 0.84%, while SAP (SAP +0.34%) closed at $220.40, up 0.30%.
What this means for investorsOracle shares were already under pressure from financing and execution worries around AI cloud expansion, including its Project Jupiter data center, which is pending government approvals, and power logistics costs. The company's spending on AI infrastructure has resulted in its debt heading toward $167 billion, and a revenue timing gap before OpenAI-related contract revenue starts in 2027. As a result, Oracle's credit rating was downgraded to BBB-, one notch above speculative grade.
The CPI data pointing to elevated inflation suggests more federal rate increases could come, making Oracle's growing debt load and shrinking free cash flow a risk for investors. One outcome of the situation could be that Oracle has to cut its dividend.
That said, in September, Oracle reported outstanding revenue growth of 30% year over year to $19.3 billion for its 2027 fiscal first quarter, ended Aug.31. The increase was driven by triple-digit cloud infrastructure gains, so investors are now weighing that momentum against heavier spending. Oracle's next earnings announcement on December 14 will be the clearest test of whether cloud demand can offset margin pressure and borrowing needs.
Robert Izquierdo has positions in Oracle and Salesforce. The Motley Fool has positions in and recommends Oracle and Salesforce. The Motley Fool recommends SAP. The Motley Fool has a disclosure policy.
Ether.fi převede celou svou platební infrastrukturu na platformu MoonPay, včetně fiatových vkladů a výběrů, mezisíťového obchodování a virtuálních bankovních účtů.
Ether.fi, the self-custodial crypto neobank reporting more than $6 billion in assets under management, has announced a partnership that will move its entire payments infrastructure onto MoonPay‘s integrated stack. The deal covers fiat onramps and offramps, cross-chain trading, institutional-grade virtual bank accounts and crypto deposits, all without requiring users to surrender control of their private keys. The announcement was made on 6 October 2026. MoonPay, which says it serves more than 35 million customers across 180 countries and holds regulatory licences in multiple jurisdictions including the United States, will supply four products: Headless Ramps, which embed fiat entry and exit flows natively inside the ether.fi app without redirects; MoonPay Trade for cross-chain routing and asset conversion; MoonPay Enterprise for virtual bank accounts supporting ACH, Fedwire, SWIFT, Faster Payments, SEPA and Open Banking rails; and MoonPay Crypto Deposits for inbound transfers from external wallets and centralised exchanges. The four products will roll out progressively to ether.fi’s user base over the coming months.
The structural problem being solved Rok Kopp, co-founder and chief growth officer of ether.fi The core friction the partnership targets is well known in self-custodial product design. Where a traditional neobank can bundle its card, bank account and funding flows through a single compliance check, a self-custodial platform has historically been forced to source those functions from separate vendors. The result is that users face repeated identity verification steps, and the transaction experience breaks at the handoff between the app and an outside provider. Ether.fi and MoonPay say that by consolidating onto one infrastructure layer, a user completes verification once and that credential carries across products, subject to local regulatory requirements.
Rok Kopp, co-founder and chief growth officer of ether.fi, framed the benchmark clearly: “The bar for ether.fi isn’t other crypto products. It’s whatever banking app a user opens every morning. Every integration we make is measured against that standard.”
Spending data and market positioning The release includes transaction data attributed to Paymentscan, an on-chain card-tracking service. According to those figures, ether.fi card users spent $123.7 million across 1.5 million transactions in September 2026, up from $24.1 million in the same month a year earlier, a more than fivefold increase. Since launching in April 2025, cumulative card spend is reported at $918.1 million across 11.6 million transactions. The company says card volume growth has been largely uncorrelated with bitcoin price movements over the same period, citing months in which its volume rose while bitcoin fell by double digits.
The third-party source for that data, Paymentscan, is not a widely cited industry benchmark, so the figures should be treated as company-provided rather than independently verified. Editors may wish to seek corroboration before publishing them as established facts.
Regulatory read-across The regulatory architecture underpinning the partnership is worth noting. Ether.fi’s self-custodial model means it does not hold user funds in the way a licensed deposit-taking institution would, which has historically allowed it to expand across markets without obtaining a banking licence in each jurisdiction. MoonPay’s licensed fiat-rail infrastructure handles the regulated perimeter. That division of labour is commercially efficient but sits under intensifying scrutiny. In the EU, MiCA’s stablecoin and crypto-asset service provider frameworks impose new obligations on entities facilitating fiat-to-crypto flows, and the UK’s Financial Conduct Authority is advancing its own cryptoasset registration and market regime. How the compliance boundary between Ether.fi and MoonPay is drawn will matter as those frameworks come into force.
The broader embedded-finance and digital-asset payments segment is crowded, with several infrastructure providers competing for neobank integration contracts. MoonPay’s differentiation here rests on the breadth of its licensed coverage and the unified KYC layer, which removes the multi-verification problem that has blunted rival self-custodial products. Whether the single-verification promise holds in practice across all supported jurisdictions will be the commercial test.
AI level 1 of 5: written by Darlyn Ho; AI helped with tone, structure or wording; edited and signed off by Mark Walker, Editorial Director. What the levels mean
Costco vyplatí čtvrtletní hotovostní dividendu ve výši 1,47 USD na akcii. Nárok na dividendu mají akcionáři evidovaní k 30. říjnu 2026. Výplata proběhne 13. listopadu 2026.
ISSAQUAH, Wash., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock of $1.47 per share. The quarterly dividend is payable November 13, 2026, to shareholders of record at the close of business on October 30, 2026.
Costco currently operates 939 warehouses, including 647 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
Wedbush zvýšil cílovou cenu akcií Unity Software (NYSE: U) z 50 USD na 55 USD díky rostoucímu využívání reklamní platformy Vector a potvrdil doporučení „outperform“.
Wedbush has raised its price target for Unity Software Inc (NYSE:U), the video game development software and advertising technology company, to $55 from $50, citing growing adoption of its Vector advertising platform.
The broker reiterated its 'outperform' rating after industry checks suggested Vector had progressed from an experimental channel to a fully budgeted option for user acquisition teams, which help game developers attract players.
An advertising technology adviser interviewed by Wedbush on October 12 ranked Unity second among gaming demand-side platforms (DSPs), which help advertisers buy digital advertising, behind AppLovin and ahead of Liftoff.
Wedbush left its financial estimates unchanged because Vector's growing adoption has yet to translate into measurable improvements in advertisers' reported results.
The broker raised its valuation multiple to 20 times estimated adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2028 financial year, from 19 times, reflecting expected earnings growth of about 29% and expanding margins.
Its 2028 EBITDA forecast is about 6% above the market consensus, while applying the same valuation multiple to consensus estimates would support a price target of approximately $52.
Wedbush expects Unity to report third-quarter results before the US market opens on November 5, forecasting revenue of $567 million and adjusted EBITDA of $187 million.
The revenue forecast matches market consensus, while the EBITDA estimate is slightly below the consensus figure of $188 million.
The broker expects strategic growth revenue, generated by Unity's advertising business, to reach $385 million, the upper end of guidance, while strategic Create revenue from its development tools is forecast at $162 million.
Wedbush expects non-GAAP earnings per share of $0.37, compared with the market forecast of $0.36.
The fourth-quarter outlook will be a key focus, particularly whether Grow can sustain sequential growth close to the pace expected in the third quarter, with Wedbush forecasting revenue of $610 million against a consensus of $601 million.
An industry expert told the broker in July that Vector accounted for about 20% of his firm's budget, up from 5% a year earlier, while an October adviser said campaign assessment times had shortened to seven to 10 days from 10 to 30 days.
Wedbush expects Vector's contribution to become more visible in fourth-quarter results and throughout 2027, while identifying access to AppLovin's MAX advertising mediation platform as a risk to monitor.
A court denied AppLovin's request for a temporary restraining order against Unity's Ad Quality kit on October 1, sending the dispute into arbitration, with a hearing on sealing issues scheduled for October 23.
Clarify the Vector investment case. Tighten the earnings forecast section
Lockheed Martin investuje 300 milionů USD do rozšíření závodu v Grand Prairie v Texasu a plánuje vytvořit 6 000 pracovních míst v USA, z toho 2 000 v Texasu.
New Hadrian partnership bringing world-class, commercial-style manufacturing technology to accelerate production of critical munitions
, /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced plans to create 6,000 jobs across the United States including 2,000 in Texas, as the company expands advanced manufacturing capacity to accelerate production of critical munitions.
Lockheed Martin celebrated a ribbon cutting for a nearly 200,000-square-foot expansion of a new advanced manufacturing facility that will expand the company‘s manufacturing footprint in Grand Prairie, Texas, to more than 735,000 square feet.
Hadrian will bring innovative, highly automated machining cells to the Grand Prairie facility, operated by the world-class Lockheed Martin production workforce.
At the center of that growth is Lockheed Martin's Grand Prairie operation, where the company is investing $300 million and expanding its manufacturing footprint to more than 735,000 square feet. The expansion includes 100,000 square feet of new space and 85,000 square feet of office space being transformed for advanced manufacturing, creating additional capacity for automation, digital manufacturing and high-precision machining.
The company also announced today that Hadrian will bring an innovative, highly automated machining cell to the Grand Prairie facility, operated by the world-class Lockheed Martin production workforce. Expected to be operational in early 2027, the 24-machine cell will bring commercial-style manufacturing technology directly into Lockheed Martin's production environment and add dedicated capacity for critical defense components.
THE BIG PICTURE
Lockheed Martin is building a manufacturing model designed for speed, scale and sustained production, bringing together the best of defense and commercial manufacturing to build a more resilient, automated and digitally integrated production model designed to deliver critical capabilities faster. The new Hadrian cell is the latest example of that strategy. It follows Lockheed Martin's recently announced collaboration with GM Defense to apply commercial automotive manufacturing expertise to defense production.
EXPERT PERSPECTIVE
"This expansion is more than just a new facility; it is a stronger supply chain and a more resilient industrial base," said Michael P. Duffey, Under Secretary of War for Acquisition and Sustainment. "Today in Grand Prairie, American industry is answering the call to support our warfighters."
"Lockheed Martin has brought together commercial speed and combat-proven performance because America needs both," said Jim Taiclet, chairman, president and CEO of Lockheed Martin. "By combining advanced technology with the expertise of our American workforce, we're transforming manufacturing to deliver critical munitions at speed and scale."
"The warfighter can't wait on peacetime timelines. Hadrian is bringing the automation, software and workforce training from our own factories directly inside Lockheed Martin, so we can produce more, faster. Rebuilding the Arsenal of Freedom at the scale America needs will take partnerships that combine expertise and speed, and this is what that looks like," said Chris Power, CEO of Hadrian.
WHY IT MATTERS
Delivering critical munitions: Lockheed Martin's Grand Prairie facility supports all Missiles and Fire Control programs, including PAC-3 MSE, THAAD, PrSM and JATM. The expansion and partnership announced today will help Grand Prairie reach record production levels and deliver components to final-assembly sites including Camden, Arkansas, and Troy, Alabama.
Investing ahead of demand: The $300 million investment in this expansion is part of the company's broader commitment to invest $8–9 billion through 2030 to scale munitions production and modernize or expand more than 20 facilities across the United States.
Building a manufacturing model that can scale: Lockheed Martin is combining a highly skilled workforce with automation, digital manufacturing, precision machining and commercial manufacturing practices to increase capacity and strengthen the defense industrial base.
Creating greater predictability: Working with Department of War leadership, Lockheed Martin is applying commercially inspired contracting approaches through landmark agreements for PAC-3 MSE, THAAD, PrSM and JATM. These agreements provide greater predictability to invest in people, equipment and supply chains while accelerating production and delivery.
ADDITIONAL CONTEXT
The Grand Prairie facility is already home to hundreds of critical machining and advanced manufacturing assets, and Lockheed Martin is rapidly adding even more capacity. In just a few months, the company has transformed former office space into advanced manufacturing areas and installed more than 30 additional high-precision machines now producing thousands of critical components each week.
By the end of 2026, Lockheed Martin expects to have added nearly 100 new advanced machines across the facility.
Nearly 800 production employees currently work at the facility which manufactured 250,000 parts in 2025.
Today's announcement with Hadrian follows the signing of a seven-year agreement signed by both companies in 2025.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
About Hadrian
Hadrian is rebuilding America's industrial base with highly automated factories that combine process engineering, AI, and robotics. Its mission is to help space and defense manufacturers produce full programs at scale in the U.S. while giving American workers the tools to compete globally.
The company operates four facilities covering just under 3 million square feet: two in Torrance, California, and newly launched sites in Arizona and Alabama, with additional sites in development across the country. More information at https://www.hadrian.co/.
Key Takeaways A. O. Smith hiked its quarterly dividend 6% to 38 cents per share, marking over 30 years of consecutive hikes.AOS generated $233.3 million in free cash flow in the first half of 2026, supporting dividends and buybacks.A. O. Smith repurchased shares for $162.4 million in the first half and targets $300 million for 2026.
In a shareholder-friendly move, A. O. Smith Corporation (AOS - Free Report) recently announced a hike in its dividend payout. The company increased its quarterly dividend by 6% to 38 cents per share (annually: $1.52). The company will pay the new dividend on Nov. 16, 2026, to shareholders of record as of Oct. 30.
The move underscores A. O. Smith’s sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. The five-year compound annual growth rate of its dividend is 6.2%. The company has increased its dividend consecutively for more than 30 years. Before this, it had hiked its dividend by 6% to 36 cents per share in October 2025.
Sound Capital-Allocation StrategiesStrong cash flows allow A. O. Smith to deploy capital effectively to reward shareholders through dividend payments and share buybacks. In the first six months of 2026, the company generated operating cash flow of $253.8 million, while its free cash flow totaled $233.3 million.
In the same period, the company paid dividends of $99.8 million, up 2.4% year over year. In the same period, it repurchased 2.6 million shares for approximately $162.4 million. While exiting the second quarter of 2026, A. O. Smith had 3.2 million shares remaining under its existing repurchase authorization. It is worth noting that, in January 2026, the company’s board boosted the buyback program by another 5 million shares. For 2026, AOS expects to repurchase shares worth approximately $300 million.
Zacks Rank & Price PerformanceA. O. Smith currently carries a Zacks Rank #3 (Hold). The company is benefiting from higher demand for water treatment and residential boilers within the North America segment. However, it is witnessing softness in the Rest of the World segment due to lower volumes of residential water treatment and water heater products in China.
Image Source: Zacks Investment Research
In the past month, the company’s shares gained 1.2% compared with the industry’s 8.5% growth.
The Zacks Consensus Estimate for AOS’ 2026 earnings has been stable over the past 60 days at $3.74 per share.
3 Promising StocksSome better-ranked stocks from the same space are discussed below.
Applied Industrial Technologies (AIT - Free Report) currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AIT delivered a trailing four-quarter average earnings surprise of 4.3%. In the past 60 days, the Zacks Consensus Estimate for Applied Industrial’s fiscal 2027 (ending June 2027) earnings has increased 0.5%.
Emerson Electric Co. (EMR - Free Report) currently carries a Zacks Rank of 2. EMR delivered a trailing four-quarter average earnings surprise of 1.3%. In the past 60 days, the Zacks Consensus Estimate for Emerson’s fiscal 2026 (ending September 2026) earnings has increased 0.2%.
Eaton Corporation plc (ETN - Free Report) currently carries a Zacks Rank of 2. Eaton delivered a trailing four-quarter average earnings surprise of 1.3%. In the past 60 days, the Zacks Consensus Estimate for ETN’s 2026 earnings has increased 0.6%.
Plug Power (PLUG -7.05%), a clean hydrogen and fuel-cell solutions provider, closed at $1.45, down 7.05%. Price target cuts from Susquehanna and Morgan Stanley pressured shares, and investors are watching hydrogen adoption and guidance.
Trading volume reached 81.5 million shares, coming in about 52% above its three-month average of 53.7 million shares. Plug Power IPO'd in 1999 and has fallen 99% since going public.
How the markets moved todayThe S&P 500 (^GSPC -1.11%) fell 1.11% to 7,719, and the Nasdaq Composite (^IXIC -1.88%) fell 1.88% to 26,693. Concern also spread to peers in clean hydrogen, fuel cells, and zero-emission power solutions. Bloom Energy closed at $239.38, down 9.14%, and FuelCell Energy closed at $14.16, down 8.65%.
What this means for investorsSusquehanna cut its Plug Power price target from $2.50 to $1.75 per share, while Morgan Stanley lowered its target from $1.65 to $1.20.
The revisions come amid growth concerns for the alternative energy sector ahead of Q3 reports. Investors will need to watch what Plug says about challenges related to margins and cash flow. Plug Power said gross margin improved to approximately breakeven in Q2, so that trend needs to continue.
Concerns also persist for renewable and power equipment suppliers in a higher-rate environment. Plug Power has debt obligations that include convertible debt instruments, long-term debt, and various lease obligations.
The company faces ongoing net cash usage, but created some breathing room late last year by refinancing convertible notes and retiring short-term debt with a capital raise, issuing 2033 convertible notes. Investors need to focus on whether Plug's trend toward positive gross margin and revenue growth continues when it reports Q3 results on Nov. 9.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy. The Motley Fool has a disclosure policy.
Dell shares plummeted 11% on Wednesday and dragged down other data center equipment names on mounting concerns that enterprise spending on artificial intelligence won't justify the AI buildout.
Hewlett-Packard Enterprise, Oracle and Super Micro all joined in the downward slide.
In a report to clients on Wednesday, analysts at Barclays downgraded its rating on Dell, HPE and NetApp, "after a significant run and on enterprise AI timing."
Makers of data center servers and other backend equipment have been favored on Wall Street this year on optimism that they'll be selling huge volumes of gear tied to demand for AI chips and systems for years into the future. Dell has been one of the top performers on the market, up more than 300% this year, while HPE has jumped about 160% and NetApp has doubled.
However, sentiment toward the AI infrastructure space has shifted of late due in part to concerning revenue figures out of OpenAI and more broadly out of fear that rising interest rates will create a challenging environment as so much of the buildout is reliant on debt. Oracle, a heavy borrower, dropped 9% on Wednesday and is now down 33% for the year while neocloud CoreWeave plunged 15%, wiping out its gains for 2026.
The Barclays analysts said they haven't seen a "meaningful AI inflection" when it comes to enterprise spending for Dell, HPE and NetApp, lowering the rating on each to the equivalent of a hold from buy. They instead attribute increased revenue to the global memory shortage and noted that infrastructure companies have passed the higher price of memory along to customers.
"There is growing sentiment about enterprise AI adoption creating a hardware refresh," the Barclays analysts wrote, adding that businesses are typically allocating just 5% of their IT budgets to AI. "We believe the strong enterprise revenues are more of a function of memory costs than a move to enterprise AI at this time."
The Barclays analysts also found that only about a quarter of total enterprise AI spend is going towards hardware. They said normalizing and eventually declining memory prices could weigh on infrastructure-related revenue.
Memory is a notoriously cyclical business, and stocks were hit this week after China's ChangXin Memory Technologies, or CXMT, reported progress over the weekend on a new chip structure. Micron is down 11% for the week, while South Korea's SK Hynix has tumbled 13% in U.S. trading and Western Digital has dropped more than 8%.
Jefferies snížila odhad zisku společnosti Yum! Brands pro rok 2026 na 6,09 USD na akcii; odprodej Pizza Hut by měl v roce 2027 snížit EPS zhruba o 10 %.
Jefferies has cut its earnings forecasts for Yum! Brands Inc (NYSE:YUM), the owner of Taco Bell and KFC, as weaker Taco Bell sales and the disposal of Pizza Hut weigh on its outlook.
The broker reiterated its 'hold' rating and $147 price target, highlighting uncertainty over Taco Bell’s recovery and whether the remaining businesses can deliver faster long-term growth.
Jefferies lowered its forecast for Taco Bell’s same-store sales, which measure performance at established restaurants, to a 2% decline in the third quarter from its previous expectation of flat growth.
The revised estimate remains ahead of the 2.7% contraction expected by analysts, although foot traffic and observed sales data suggest the recovery has been slower than anticipated.
Jefferies also cut its fourth-quarter Taco Bell sales growth forecast by one percentage point to 3%, taking its full-year 2026 estimate down from 4.8% to 4%.
The broker expects Taco Bell to recover fully and outperform quick-service restaurant peers consistently from 2027, supported by its brand, value offerings, marketing, menu innovation and digital rewards programmes.
The sale of Pizza Hut is expected to create an additional earnings headwind, with Jefferies estimating that the removal of about 20,000 restaurants and approximately $300 million in operating profit will dilute 2027 earnings per share by around 10%.
The forecast includes an assumed increase in share repurchases funded partly by proceeds from the disposal, with Jefferies doubling its expected quarterly buybacks to $400 million for the fourth quarter and 2027.
Jefferies cut its 2026 earnings-per-share forecast to $6.09 from $6.46 and its 2027 estimate to $6.41 from $7.24, leaving both below consensus estimates that already account for the Pizza Hut sale.
The broker maintained its KFC same-store sales forecast at 1.8% for both the third and fourth quarters, slightly below market expectations of 2% and 2.1%, respectively.
Yum Brands’ longer-term growth prospects remain a key question for investors, as the removal of Pizza Hut could allow the group to accelerate growth through its remaining restaurant businesses.
Jefferies said Taco Bell’s underlying strengths and global restaurant expansion had helped support the shares, but it remained cautious about the uncertain United States quick-service restaurant market and potential emerging-market challenges.
Quarterly revenue increased 30%, while free cash flow declined 35%.
Summary
NetApp’s storage growth must also produce stronger cash returns.
NetApp, the enterprise storage and data-management supplier NTAP, faces fresh scrutiny after a Barclays downgrade, with shares at $224.59, down approximately 6.0%, at 12:11:54 p.m. ET on October 14. According to Stocktwits, analyst Tim Long cut his rating to Equal Weight from Overweight and kept his $219 price target. That target sits below the trading price. The valuation graphic adds another pressure point: shares stand 65.27% above the $135.89 GF Value estimate, suggesting substantial growth expectations are already priced in.
The cash numbers deserve attention. NetApp reported fiscal first-quarter revenue of $2.025 billion, up 30% from a year earlier, while free cash flow fell 35% to $401 million. That leaves free cash flow at roughly 19.8% of revenue. All-flash array sales jumped 47% to $1.3 billion, and GAAP operating margin reached 23.9%. Storage demand looks strong. But faster sales have yet to translate into stronger cash generation.
One weak cash-flow quarter does not prove the business is losing steam. Payment timing, working capital and capital spending can all change the picture. Still, a stock carrying this valuation premium has a higher bar to clear. The next test is straightforward: keep storage sales growing and turn more of that revenue into cash. An AI growth story becomes more convincing when it also produces the money to fund expansion and shareholder returns.
Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
HIP-3 společnosti Hyperliquid vygeneroval kumulativní tržby ve výši 75 milionů USD; polovina připadla nasazovatelům trhů a druhá polovina na zpětné odkupy a spalování nativních tokenů.
Hyperliquid’s HIP-3 has generated a total of $75 million in cumulative revenue, with $37.5 million going to deployers and the remaining $37.5 million allocated for repurchasing and burning Hyperliquid’s native token. HIP-3, the Builder-deployed perpetual contract mechanism, allows eligible deployers to launch their own perpetual markets on Hyperliquid: they can define oracles, contract specifications, and manage operations, while leveraging the protocol’s core infrastructure such as order books and liquidation systems. Fees from these markets are typically split 50/50 between deployers and the protocol, with the protocol’s revenue share used for token repurchases and burns.
Relevant content
Ledger: German retail and distribution inventory devices show no signs of tampering, and no financial loss reports have been received across Europe.
Hardware wallet provider Ledger’s security team Donjon has updated on a German-related report, stating that after receiving a report from a German user, it inspected inventory devices at retail outlets and distributors in the country, including products at the named stores, and found no signs of tampering. Ledger also noted that there have been no reports of financial losses linked to hardware implants across Europe. Separately, regarding the suspected abnormal devices circulating online, the security team has not obtained physical units for testing. It has now invited holders of such devices to send them to Ledger’s security team for further analysis, with investigation results to be made public.
Beating AI Express News: xAI has launched its speech-to-speech model Grok Voice 3.0, claiming it ranks first on the Speech-to-Speech Index in an independent test by Artificial Analysis, scoring 86.9 points—higher than Grok Voice 2.0 (81.3), GPT-Live-1 (83.2), and Gemini 3.8 Live (82.6). The model also features end-to-end latency of under 1 second. It is now available via the Voice Agent API, priced at $0.08 per minute, matching the previous generation; agents using the "grok-voice-latest" tag will automatically switch to the new model. According to xAI, Grok Voice handles millions of daily conversations for Tesla and SpaceX: Starlink’s customer service center receives around 20,000 calls daily, with roughly 70% resolved without human intervention, and about a quarter of sales calls resulting in a purchase before the call ends. On benchmarks, Grok Voice scores 74% accuracy on ServiceNow EVA-Bench and 71.6% on τ-Voice, which the company says is comparable to GPT-Live-1 but with roughly 40% lower latency.
4 hours ago
White House Crypto Committee 'effectively defunct' as Executive Director Patrick Witt’s secondment is set to expire.
Crypto journalist Eleanor Terrett said she emailed the White House three times over the past week to inquire whether Patrick Witt still serves as executive director of the White House Crypto Council, and received no reply. Witt himself declined to comment.
Sources familiar with the matter disclosed that Witt, a U.S. Department of Defense employee temporarily seconded to the White House Crypto Council, has reached or is nearing the end of his secondment, with his reappointment status unclear. Earlier this year, he delayed his service in the Georgia National Guard, and is expected to resume his military service soon.
Terrett added that Harry Jung, deputy director of the White House Crypto Council, left his post at the end of July, and after David Sacks’ tenure as Crypto and AI “tsar” concluded, Witt is now the only remaining staff member of the council.
The crypto policy community is now debating: after the CLARITY Act (officially the Crypto Market Structure Act) failed to advance in the Senate, whether the White House still prioritizes the crypto industry.
The relevant personnel changes have not yet been officially confirmed by the White House.
4 hours ago
US stocks slump, with the optical communication sector leading the decline; semiconductor, storage, and crypto-related stocks all fall across the board, and Strategy drops 5.8%.
According to market data from BIT (bit.com), during U.S. stock trading hours, the S&P 500 index’s decline widened to 1.1%, the Nasdaq fell 1.64%, and the Dow Jones Industrial Average dropped 0.3%. Semiconductor, storage, optical communication, and crypto-related stocks all fell across the board, with the optical communication sector leading losses, as most major individual stocks in the sector declined by over 7%. In the semiconductor and storage sectors: Seagate Technology (STX) fell 2.8%; Western Digital (WDC) dropped 3.2%; SanDisk (SNDK) declined 4.7%; Micron Technology (MU) fell 3.3%; NVIDIA (NVDA) dropped 2.9%; Intel (INTC) fell 4.2%; Advanced Micro Devices (AMD) declined 5.3%. Among crypto-related stocks: Strategy (MSTR) fell 5.8%; Coinbase (COIN) dropped 4.6%; Circle (CRCL) declined 6.4%; BitMine Immersion (BMNR) fell 5.3%; SharpLink Gaming (SBET) dropped 7.4%. In the optical communication sector: Pure Photonics ETF (FOTO) fell 6.2%; Marvell Technology (MRVL) dropped 5.8%; AAOI (Applied Optoelectronics) declined 9.8%; LITE (Lumentum Holdings) fell 7.2%; COHR (Coherent Corp.) dropped 7.8%; CIEN (Ciena Corporation) declined 7.8%.
4 hours ago
USDC designated as EU's first 'systemically important e-money token'
The European Banking Authority (EBA) announced that it has classified USDC, issued by Circle Internet Financial Europe SAS, as an Important Electronic Money Token (EMT) under the EU’s Markets in Crypto-Assets (MiCA) regulation. To date, 45 EMTs in the EU have completed notification under MiCA, with USDC being the first to be designated as an Important EMT. Starting November 12, 2026, USDC will be subject to dual supervision for Important EMTs under MiCA: direct regulatory responsibilities for own funds, asset reserves, liquidity requirements, and recovery and redemption plans will be transferred from the French Prudential Supervision and Resolution Authority (ACPR) to the EBA; ACPR will retain oversight of governance, qualifying holdings, suitability assessments, outsourcing, and conflicts of interest. USDC is issued by Circle Internet Financial Europe SAS in the EU and Circle Internet Financial, LLC in the U.S. The EBA has signed a memorandum of understanding (MoU) with the New York State Department of Financial Services to facilitate cooperation and information exchange on cross-border stablecoin activities.
4 hours ago
OpenAI accuses a former employee of leaking confidential data before joining Apple, as the intellectual property rights dispute escalates once more.
According to Reuters, OpenAI has accused a former employee of sending more than 100 files related to the company’s unreleased devices to his personal account before leaving to join Apple, and subsequently presenting the relevant products to Apple’s senior management. Apple had earlier filed a lawsuit against OpenAI, alleging the latter stole trade secrets of its unreleased hardware products, marking a further escalation of the intellectual property dispute over hardware technology between the two parties.
Nasdaq zahájil proces vyřazení společnosti RedCloud (RCT) z obchodování kvůli nesplnění požadavku na minimální nabídkovou cenu 1 USD. Odvolání zatím umožňuje pokračování obchodování; firma plánuje reverzní rozdělení akcií.
As a result of the appeal, there is no immediate impact on the listing of RedCloud ordinary shares, which continue to trade in the normal manner on the Nasdaq Capital Market under the symbol “RCT” | Source: RedCloud Holdings plc
LONDON, Oct. 14, 2026 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (Nasdaq: RCT) (“RedCloud” or the “Company”), which is building the AI prediction infrastructure for global FMCG trade, today announced that on October 13, 2026, it received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that Nasdaq has initiated the process of delisting the Company’s ordinary shares from the Nasdaq Capital Market as a result of the Company’s non-compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”), which requires primary securities listed on the Nasdaq Capital Market to maintain a minimum bid price of at least $1.00 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if a deficiency under the Minimum Bid Price Rule continues for a period of consecutive 30 business days. The Company is not eligible for a second 180-day compliance period because it lacks the stockholders’ equity required to meet the initial listing standards.
The Company has appealed the Staff Determination by filing a request for an oral hearing before the Nasdaq Hearings Panel (the “Hearings Panel”). This request has stayed the suspension of trading or delisting of the Company’s securities pending the hearing and the Hearing Panel’s decision. In the meantime, the Company’s securities will continue to trade in the normal manner on the Nasdaq Capital Market under the symbol “RCT”.
The Company will submit to the Hearings Panel a written plan of compliance, including a commitment to effect a reverse stock split. As previously announced on October 6, 2026, the Company’s Board of Directors has convened a General Meeting scheduled for October 30, 2026 (the “General Meeting”). At the General Meeting, the Company will seek shareholder approval to effect a share consolidation. If approved by shareholders, the share consolidation is expected to be effective on or about November 13, 2026. Depending on the timing of the hearing before the Hearings Panel, the share consolidation may already be effective.
About RedCloud
RedCloud Holdings plc (Nasdaq: RCT) builds AI infrastructure for the prediction of FMCG trade. More than $8.4 billion of FMCG transactions have passed through its infrastructure between early 2023 and June 2026, across more than 100,000 customers and 6,700 brands. RedCloud uses this proprietary transaction data to develop RAID (Real-time AI for Distribution), its prediction model for distribution, and deploys its infrastructure and associated products (“RedAI”) either directly or through joint ventures with partners who fund and operate local markets.
RedCloud is a British company registered in London. Justin Floyd is its Founder and Chief Executive Officer. For more information, please visit www.redcloudtechnology.com and connect on LinkedIn.
Forward-Looking Statements
The information in this press release may include forward-looking statements within the meaning of the federal securities laws. These statements include, without limitation, statements regarding the expected general meeting of shareholders. Words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including, but not limited to, the granting of the Company’s request a hearing before the Hearings Panel and, the outcome of the General Meeting. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements described in “Cautionary Note Regarding Forward-Looking Statements,” “Item 3. Key Information – D. Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in RedCloud’s most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission, as well as the Company’s periodic reports and other filings with the Securities and Exchange Commission. RedCloud undertakes no obligation to update or revise these forward-looking statements except as required by law.
Aster DEX will spend the last of its roughly 1.4M USDT strategic buyback reserve on ASTER over 14 days from October 15, on top of its fee-funded buybacks.
Aster DEX will use the last ~1.4M USDT in its strategic buyback reserve to buy $ASTER over 14 days, starting Thursday, October 15. At about 100,000 USDT a day, the purchases will be spread evenly across the two-week window.
The reserve buyback runs alongside the protocol's regular repurchases. Those are funded by 99% of platform fees, with the bought tokens going to users who lock up ASTER. @Aster_DEX has positioned the program as a way to tie the token to platform activity.
How the buyback program has evolvedThe strategic reserve dates back to the project's Stage 5 buyback program. Stage 5 began on December 23 and allocated up to 80% of platform fees to $ASTER, with 40% of daily fees going to automatic buybacks and another 20% to 40% held in strategic reserves. A Stage 6 program followed on February 4, 2026, again allocating up to 80% of daily platform fees to repurchases.
The structure changed again in June. Aster announced a tokenomics upgrade on June 17, 2026, directing 99% of daily platform fees into automatic $ASTER buybacks for veASTER stakers, with matching burns aimed at cutting total supply toward 3 billion. Since that date, the buybacks have run through a TWAP on Aster Spot, and the purchased tokens are distributed to veASTER holders on top of a 300,000 $ASTER base reward pool each epoch.
Permissionless listings add a further source of funding. Each permissionless token listing on Aster Spot requires a 50,000 USDT fee, which also goes toward ASTER purchases.
What to watchThe size of the regular buyback depends on trading activity. Because each buyback tracks daily fees, a quieter quarter lowers staker rewards and slows the pace of burns. The reserve purchases are a fixed amount, so they do not depend on volume over the 14 days.
Independent scrutiny of the mechanism is also worth noting. Analytics platform Tokenomist has reported that the burn leg has largely stalled, with roughly one hundred million ASTER burned in early 2026 against a target reduction of about five billion. The reserve buyback, by contrast, is a direct market purchase of the token.
Past rounds have not always moved the price. When the strategic reserve was activated in January, ASTER dropped to $0.55 around the time the DEX confirmed buybacks were live. Buybacks reduce available supply but do not guarantee a price response, and the outcome will depend on broader market conditions and liquidity.
Sources
BeInCrypto: Aster expands its token buyback program
Datawallet: Aster DEX review, buyback and burn mechanics
SQ Magazine: Aster DEX Stage 5 buyback program
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Apia, Samoa, October 14, 2026 – The crypto market saw a notable rally in the just-concluded third quarter. It was also the quarter in which HTX turned 13. Over the past 13 years, the industry has weathered multiple bull and bear cycles, and HTX has stood alongside users worldwide throughout them. Resilience in navigating market cycles has been a defining characteristic of HTX over the past 13 years.
To mark its anniversary themed “Resilience Reveals the Future”, HTX launched the 13th-Anniversary Carnival and Trading Championship #3, among other celebratory events, in the third quarter, celebrating alongside users worldwide. Meanwhile, the platform continued to invest in TradFi, trending assets, yield products, and global compliance, delivering an outstanding quarterly performance report.
13th-Anniversary Celebrations Conclude, with Participation from Users Worldwide
On August 13, HTX kicked off its 13th-anniversary celebrations with the Anniversary Carnival. Its spot, futures, Earn and lending businesses rolled out exclusive anniversary promotions in succession, launching a celebration that lasted more than a month.
The annual trading competition Trading Championship #3 was the centerpiece of the anniversary celebrations. It attracted 45,000 registrations and generated 6.8 billion USDT in futures trading volume, making it the platform’s largest campaign of the quarter by both participation and trading volume. Meanwhile, HTX futures copy trading volume grew 21% quarter over quarter.
For spot trading, a series of 13th-anniversary campaigns, including the Individual Challenge, Trending Cryptos Margin Trading Carnival, and Points Tasks, played a key role in driving spot trading growth during the quarter. Over the three-month period, HTX launched 14 themed spot trading campaigns, attracting more than 46,000 registrations and generating over 500 million USDT in trading volume across the campaigns.
For 13 years, HTX and users worldwide have navigated one market cycle after another together. The anniversary celebrations were both a gesture of appreciation for users’ long-term support and a reflection of HTX’s determination to carry its resilience into the next 13 years.
TradFi Asset Offerings Expand as Quarterly Trading Volume More Than Doubles
In the third quarter, HTX listed 183 new futures assets, including 154 stocks and index-related assets. As of now, the platform offers 278 tradable stock assets, spanning US stocks, major global indices and ETFs, pre-IPO unicorns, and leading companies in Japan and South Korea, continuing to lead the industry in multi-market stock asset coverage.
HTX’s asset lineup focuses on four key sectors: AI hardware and semiconductor computing power, global e-commerce and internet companies, leading Asia-Pacific companies and major indices, and high-dividend blue-chip stocks. AI and semiconductor computing, leading Asia-Pacific companies, and pre-IPO unicorns were key themes throughout the quarter. Popular assets such as POLYMARKET, OURA and MOONSHOT were also listed. Eligible users can access global market opportunities through HTX without switching between platforms. This service is not available in jurisdictions subject to regulatory restrictions.
The expanded asset lineup drove rapid growth in trading volume. So far the cumulative TradFi trading volume on HTX has approached $6 billion, with $4.1 billion generated in the third quarter alone, more than doubling the cumulative total from the previous quarter.
The trading experience was upgraded alongside these developments. Stock perpetual futures feature a dividend settlement mechanism, allowing position values to adjust more continuously when an underlying stock goes ex-dividend and reducing the impact of non-trading-related price adjustments on users’ positions. TradFi asset detail pages include market data, news updates, and company profile, bringing key information together in one place. Dedicated categories for stocks, commodities and ETFs have also been added to market rankings, making it easier for users to discover assets. HTX has also upgraded its TradFi trading fee structure, bringing its net trading fees into the industry’s top tier.
HTX is also taking a longer-term view of the convergence of traditional finance and crypto markets. As real-world assets (RWAs), particularly tokenized stocks, become an increasingly important area of development in the global digital asset industry, the platform is monitoring regulatory developments and exploring regulatory frameworks and compliance pathways in preparation for future product innovation. All related products and services offered by the platform operate within the framework of applicable laws and regulations, and access restrictions are applied to users in certain jurisdictions as required.
Trending Assets Emerge as Earn and Lending Products Put Funds to Work Efficiently
In the third quarter, HTX listed new projects attracting strong market interest, several of which were first listed on the platform. Niulai was the quarter’s top-performing newly listed token, recording a peak gain of more than 500%. DOS and STONK each recorded peak gains of 240% after listing.
Earn and lending products expanded alongside new asset listings. During the quarter, HTX Earn changed the launch schedule for its new-token products from weekly updates to real-time synchronization with new listings, allowing users to access corresponding Earn products as soon as eligible popular tokens become available. Nearly 500,000 users participated in HTX Earn during the quarter, with subscription amounts totaling nearly 1 billion USDT. SVIP Flexible Earn products added BTC and ETH, expanding the options available to users with large holdings. In addition, SmartEarn introduced a trading-linked APY boost, offering a base APY of 4% upon activation and up to 9% APY for users who meet the required trading volume threshold. This further expands the yield potential for idle assets.
Margin and Convert features added 21 tradable assets, with XAUT becoming the first precious metal asset available through Convert. This further expanded the range of assets available for trading, borrowing and use as collateral. Loan interest rates are adjusted frequently in response to market conditions across more than 50 cryptocurrencies. Interest rates for large loans remain among the lower levels in the industry.
Risk management tools were also upgraded. Trailing stop orders and MMR TP/SL orders were launched successively. Stop-loss levels can automatically track market movements, giving users with large positions and high leverage greater flexibility in managing risk.
Advancing Global Compliance and Making a Major Brand Appearance at TOKEN2049
Compliance is a prerequisite for global expansion. In the third quarter, HTX made further progress on compliance initiatives in several key markets. In Dubai, the establishment of the relevant applicant entity received preliminary approval from the Virtual Assets Regulatory Authority (VARA), with subsequent regulatory applications and compliance reviews proceeding as planned. In Pakistan, following the formal publication of virtual asset service regulations and the launch of a licensing application process, HTX continued to advance the establishment of its local entity, its formal license application, and the development of its compliance framework, building on the No Objection Certificate (NoC) already obtained from the Pakistan Virtual Assets Regulatory Authority (PVARA).
HTX continued to strengthen its presence in regional markets. In August, HTX Ventures participated in Conviction Vietnam, building connections with local users and Web3 ecosystem partners. As the fourth quarter began, HTX appeared at TOKEN2049, a major annual gathering for the global crypto industry. Held in Singapore from October 7–8, the event brought together projects, investment firms, developers, and industry builders from around the world. HTX Ventures exhibited at the Sands Expo and Convention Centre in Singapore, engaging invited guests through brand displays and on-site interactions. Justin Sun, adviser to HTX and a core supporter of HTX DAO, attended related events and delivered a speech. He visited the HTX Ventures booth to meet with the team and other industry participants.
At Future Night, a private, invitation-only event hosted by HTX DAO during the same period, Justin Sun shared his views on industry trends via video. He noted that the crypto industry is becoming more closely connected with traditional finance. AI is changing how wealth is created, while crypto and digital finance are transforming how wealth is held and transferred. He also said that stablecoins could play a greater role in global payments and settlement, while the on-chain adoption of traditional assets such as bonds, funds and gold is likely to continue developing. The free flow of value in the digital world, he said, will be an important trend to watch over the next decade.
During the event, HTX DAO also hosted a private VIP dinner. Justin Sun met face to face with industry representatives, ecosystem contributors, and partners to exchange views on industry developments, market changes, product experiences, and future collaboration.
HTX DAO Ecosystem Expands as Q3 $HTX Burn Approaches
HTX DAO continued to support the long-term value of $HTX in the third quarter by steadily implementing its deflationary mechanism through quarterly token burns, while expanding $HTX use cases and building consensus among developers and the community. These efforts aim to lay a solid foundation for the ecosystem’s long-term development.
On July 15, HTX DAO completed its Q2 2026 $HTX token burn, valued at more than $13.6 million, bringing cumulative burns and donations to 117.79 trillion tokens. In line with its quarterly burn schedule, the Q3 $HTX token burn is scheduled to take place on October 15.
On the ecosystem front, HTX DAO focused on developers and the community. The Genesis Hackathon, co-hosted by HTX DAO and B.AI, attracted more than 200 developer teams exploring $HTX use cases, AI agent finance, on-chain asset management, and DAO tools. At Future Night, HTX DAO ambassador Molly shared that several projects developed by global university teams participating in the hackathon had advanced to further incubation stages and were exploring ways to integrate with use cases across the $HTX ecosystem.
Molly also shared that nearly 200 active volunteers were independently contributing to HTX DAO community development. In the fourth quarter, HTX DAO plans to develop regional community nodes to support members in organizing events and exchanging ideas. She also noted that HTX, as an ecosystem participant, continues to optimize withdrawal fees, gather user feedback, and improve the app experience.
Navigating Market Cycles with Resilience, Shaping the Future Together with Users Worldwide
Thirteen years ago, HTX began as a digital asset trading platform. Today, it has grown into a comprehensive blockchain ecosystem serving users worldwide. Over the years, markets have experienced both highs and lows, and the industry landscape has evolved. Throughout these changes, HTX has remained committed to putting users first. Regardless of market conditions, improving its products and prioritizing the security of user assets remain among the platform’s top priorities.
Standing at the beginning of its 14th year, HTX will continue to navigate market cycles with resilience and build the future together with users worldwide.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, derivatives, research, investments, incubation, and other businesses.
Guided by its vision to “Achieve Financial Freedom for 8 Billion People Worldwide,” HTX works to make the digital asset space more accessible to a broader audience. The platform continues to develop its products and services in response to user needs and an evolving industry landscape.
To learn more about HTX, please visit https://www.htx.net.in/ or HTX Square , and follow HTX on X, Telegram, and Discord. For further inquiries, please contact [email protected].
Bitcoin čelí riziku další vlny likvidací, pokud index spotřebitelských cen (CPI) v USA ukáže vyšší než očekávanou inflaci. Po likvidacích v hodnotě 811 milionů USD zůstává objem otevřených pozic na úrovni 140,9 miliardy USD.
Bitcoin has remained exposed to another inflation-driven selloff, analysts have warned, after an $811 million crypto liquidation wave left market-wide open interest down only about 2% at $140.9 billion in their pre-CPI assessment.
Summary
$140.9 billion in crypto open interest remained after the selloff, according to Bitget Research’s briefing. Nansen reported $175.7 million in Bitcoin ETF inflows on Oct. 13 after recent withdrawals. Bitget Wallet’s Lacie Zhang warned that sticky core inflation could challenge expectations for Fed policy. Zhang identified $81,000–$82,000 support and a sustained $84,500–$85,000 breakout as levels to watch. Ryan Lee, chief analyst at Bitget Research, warned in comments shared with crypto.news that the latest forced selling may have removed some vulnerable Bitcoin positions without fully clearing the leverage that could fuel another decline.
In the accompanying briefing, Bitget Research cited CoinGlass data showing $811 million in crypto liquidations during the 24 hours to Tuesday morning, with long positions accounting for most losses. The subsequent 24-hour total had eased to $140 million, while open interest remained at $140.9 billion.
“The latest liquidation wave has reduced leverage in Bitcoin, but it may not have fully reset market positioning.”
For Lee, elevated open interest after a selloff would suggest that substantial leveraged exposure remains ahead of the U.S. Consumer Price Index release. He warned that an inflation surprise could force another adjustment as traders reassess Treasury yields and Federal Reserve policy.
Bitcoin leverage could amplify an inflation surprise With the briefing placing the 10-year yield around 5.20%, Lee identified hotter-than-expected inflation as a possible trigger for another round of liquidations. His warning was conditional on the data and the amount of leverage still in place.
Lee also said the earlier liquidation wave may have cleared some of the positions most exposed to falling prices, potentially limiting subsequent selling pressure.
On the other side of the release, he said softer inflation could produce a sharp rebound if traders rebuild risk exposure and short positions come under pressure. His assessment therefore leaves room for forced position closures to accelerate a move in either direction.
A similar two-way scenario appeared in Oct. 12 coverage of Bitcoin’s CPI price scenarios, when BTSE Chief Operating Officer Jeff Mei said unexpectedly strong inflation could push Bitcoin below $80,000. A softer reading, Mei said, could support a recovery toward $86,000 or higher.
Core inflation could challenge expectations for a Fed pause Lacie Zhang, research lead at Bitget Wallet, identified persistent core inflation as the risk investors may be underestimating, particularly if energy spillovers, tariffs or sustained demand keep price pressures elevated.
In her pre-release assessment, Zhang put the probability of an October Fed hold near 77%. She warned that a hotter core reading or renewed pressure on Treasury yields could force a sharper repricing than markets currently anticipate.
According to Zhang, investors still largely expect one additional rate increase later this year, but persistent inflation could keep the Fed on a higher-for-longer path beyond that assumption.
Her forecast ranges placed headline CPI at approximately 0.5%–0.6% month-on-month and 3.6%–3.7% year-on-year. For core inflation, she cited expectations near 0.2% monthly and 2.4%–2.5% annually.
Pointing to consumer demand, Zhang cited retail sales excluding autos and gasoline rising 0.28% month-on-month and 4.05% year-on-year. She also referenced New York Fed President John Williams’ indication that further increases may not be necessary in 2027.
For U.S. investors holding Bitcoin through spot ETFs, Bitfinex analysts had already connected inflation readings to the December policy outlook. In an Oct. 6 report on slowing Bitcoin ETF buying, the team said softer core inflation would weaken the case for another increase, while firm spending and persistent core inflation would strengthen it.
ETF buying has recovered faster than on-chain demand Nicolai Sondergaard, senior research analyst at Nansen, described a recovery in Bitcoin ETF demand that has yet to receive clear support from the firm’s on-chain trading sample.
According to Sondergaard, Bitcoin ETFs attracted $175.7 million on Oct. 13, following $678.9 million in withdrawals during Oct. 5–9 and another $65.4 million outflow on Oct. 12.
The earlier selling included a large withdrawal from U.S.-listed funds. An Oct. 8 report documented Bitcoin ETF withdrawals of $484.9 million on Oct. 7, citing Farside Investors data. BlackRock’s IBIT lost $207.7 million, Fidelity’s FBTC shed $105.1 million, and ARK 21Shares’ ARKB recorded $101.7 million in redemptions.
Within Nansen’s latest Smart Trader sample, Sondergaard reported approximately $555,000 in Solana inflows and $22,000 in Ethereum inflows over 24 hours. Across seven days, however, both remained in net outflow.
For Bitcoin-linked wallets, he described mixed flows without a clear sign of widespread accumulation.
“ETF demand is recovering faster than on-chain conviction.”
Ahead of CPI, Sondergaard characterized the activity as “some selective positioning,” rather than a market-wide expression of confidence. He put annual consensus expectations at 3.6% for headline inflation and 2.5% for core CPI.
Bitcoin bulls need buying support above $84,500 In Zhang’s pre-CPI market assessment, Bitcoin traded around $83,400–$83,500, with initial support at $81,000–$82,000 and another downside reference near the recent $80,400 low.
Above that range, she placed resistance at $84,000–$84,500, followed by $85,000–$87,000. Zhang said bulls would regain clearer control through a sustained move above $84,500–$85,000 on solid trading volume, supported by renewed inflows.
For that bullish scenario, Zhang also wanted core inflation at or below approximately 0.2% month-on-month and easing expectations for further rate increases. Alongside the inflation reading, she identified December Fed expectations, ETF flows, and continued institutional accumulation as the main factors to monitor.
Strive, a Nasdaq-listed company specializing in corporate treasury management, has boosted its Bitcoin holdings with a new purchase of 2,822 BTC worth approximately $235 million. The acquisition, disclosed by CEO Matt Cole, took place between October 12 and October 13 at an average price of $83,266 per bitcoin.
Record-breaking Bitcoin reservesThis latest buy raised Strive’s total corporate Bitcoin stockpile to 35,595 BTC. With this figure, Strive overtook MARA Holdings, whose holdings stood at 35,577 BTC, securing fourth place among publicly listed companies with the largest Bitcoin reserves. The top three positions remain with Strategy (848,250 BTC), Metaplanet (44,000 BTC), and Twenty One Capital (43,514 BTC).
Just days before, Strive had completed another significant purchase, adding 3,311 BTC at an average price of $84,500, amounting to roughly $280 million. This prior acquisition raised the company’s reserves from 29,462 to 32,773 BTC.
Strive now holds 35,595 BTC in its treasury, topping MARA Holdings by 18 BTC and reaffirming its ongoing commitment to expand corporate crypto reserves.
In total, Strive acquired 6,133 BTC over the two most recent transactions, a combined outlay of around $515 million. The acquisitions, though occurring at different times, were announced on consecutive days, reflecting an 8.6% increase in Strive’s reserves.
Expansion of crypto treasuryEarlier in the year, Strive expanded its cryptocurrency assets by acquiring Semler Scientific. This move added approximately 5,048 BTC to Strive’s reserves. With the latest Bitcoin purchases, Strive’s treasury management strategy appears focused on maintaining long-term exposure to leading digital assets.
Strive’s corporate Bitcoin reserves now stand just ahead of MARA Holdings, but well below the leaders in this space.
CompanyBitcoin Holdings (BTC)Strategy848,250Metaplanet44,000Twenty One Capital43,514Strive35,595MARA Holdings35,577CEO Matt Cole previously mentioned the possibility for Strive to move up to the second position by year-end, but noted this was not his base-case expectation in September.
Financing and capital structureAlongside the new Bitcoin acquisition, Strive announced the exercise of 13,674,703 Class A common share warrants, resulting in gross proceeds of approximately $369.2 million. The exercise took place on October 12 and 13, with no outstanding traditional warrants remaining from the company’s latest private investment round.
The company noted that warrants allow the purchase of shares at predetermined prices, generating immediate cash inflow but also increasing the total number of shares in circulation.
Mini dictionary: Warrants are financial instruments that give holders the right, but not the obligation, to purchase company stock at a fixed price by a certain date. Companies often use warrants to raise capital and incentivize investors.
Strive has not disclosed what portion of the new proceeds funded the most recent Bitcoin acquisition, but maintains multiple financing channels including preferred stock and other equity offerings for its treasury operations.
Despite the aggressive accumulation, Strive’s shares came under pressure prior to the announcement. ASST stock closed at $27.59 on October 13, reflecting a decrease of 0.43%. The downward trend continued into pre-market trading on October 14, although there were no remarkable market reactions following the SEC filing.
Market performance and outlookFor the longer term, ASST stock has posted a strong performance, gaining approximately 87% year-to-date and more than 120% over the past three months, according to MarketBeat data.
Future Bitcoin acquisitions by Strive will depend on the company’s ongoing capital allocation strategies. Management has reaffirmed its approach of pairing treasury expansion with new financing options.
With continued BTC purchases and new capital inflows, Strive aims to remain a key player in the corporate crypto treasury sector while adapting its strategy to market dynamics.
Bitcoin naráží na rezistenci na úrovni 88 000 USD, kde investoři, kteří nakupovali v posledních 6 až 12 měsících, dosahují průměrné nákupní ceny. Průlom pod podporu na úrovni 80 000 USD by mohl otevřít cestu k 78 000 USD.
Bitcoin faces growing resistance near $88,000 as exchange traded funds return to net selling and higher US inflation weighs on market sentiment, according to a new report from blockchain analytics firm Glassnode.
In its October 14 report, Glassnode identified the $80,000 to $81,500 range as a critical support zone, while investors who purchased Bitcoin over the past two years continue to create selling pressure above current prices.
The report comes as Bitcoin struggles to recover following September’s hotter than expected inflation data, which strengthened expectations of another Federal Reserve interest rate increase.
Despite these pressures, Glassnode said several onchain indicators suggest the market is entering an early recovery phase, with long term holders reducing their losses and Bitcoin trading above important valuation levels.
Bitcoin faces resistance at $88K as ETF outflows accelerate Glassnode identified two groups of investors holding Bitcoin above current prices.
Investors who purchased BTC between six and twelve months ago have an average cost basis near $88,000. Meanwhile, those who bought between one and two years ago have a cost basis around $100,000.
Both levels have rejected previous rallies this year. Bitcoin approached the first in January before falling more than 33%. It also tested the second in May before declining roughly 25%.
According to Glassnode, Bitcoin must recover $88,000 to overcome selling pressure from investors seeking to exit positions near their original purchase prices.
At the same time, institutional demand has weakened.
US spot Bitcoin ETFs attracted nearly $3 billion in net inflows between September 21 and October 6, marking their strongest buying period since November 2025.
However, that momentum reversed on October 7. The funds subsequently recorded approximately $760 million in net outflows, removing a major source of demand from the market.
Glassnode said a sustained return of ETF inflows would provide stronger confirmation that buyers are absorbing the selling pressure.
Bitcoin holds $80K support as long term holder losses decline Despite weakening ETF demand, Bitcoin continues to hold key support levels. The average cost basis of US spot Bitcoin ETFs stands near $81,500, a level Bitcoin briefly lost on October 8 and 13 before recovering.
Glassnode also identified significant buying orders around $80,000 on Binance, while the True Market Mean sits near $78,000. A break below $80,000 could trigger further liquidations, while a move toward $88,000 could force short sellers to close positions. However, sustained gains would require stronger spot demand.
Meanwhile, selling pressure from long term holders has eased. Their realized losses have fallen 85% since peaking on August 12.
At Bitcoin’s June low, roughly twelve coins were sold at a loss for every coin sold at a profit. That ratio has since reversed, with profitable sales outnumbering loss making sales by four to one.
Glassnode said the shift resembles previous market recoveries. Unlike the 2018 and 2022 bear markets, Bitcoin has also avoided closing below its Realized Price, the average acquisition cost of coins in circulation. Even at its June 30 low, Bitcoin remained about 10% above that level.
Hot inflation data adds pressure ahead of Fed decision The latest Glassnode assessment follows a stronger than expected US inflation report that raised concerns about further monetary tightening.
According to the Bureau of Labor Statistics, September’s Consumer Price Index increased 0.6% from the previous month and 3.7% annually, exceeding market forecasts.
Core inflation, which excludes food and energy, rose 0.3% monthly and 2.6% annually.
The figures increased expectations that the Federal Reserve could raise interest rates again after delivering a 25 basis point increase in September.
The next monetary policy decision is scheduled for October 28, followed by the US midterm elections on November 3.
Meanwhile, Glassnode also identified growing speculative activity across individual altcoins.
Its Altcoin Froth Indicator showed elevated leverage among individual tokens since late September, although marketwide speculative activity remained relatively subdued.
The divergence suggests that pockets of the altcoin market could face concentrated liquidations if Bitcoin loses its $80,000 support.
For Bitcoin, Glassnode identified two levels that could determine the next major move.
A sustained recovery above $88,000, supported by renewed ETF inflows, would suggest that buyers are absorbing overhead selling pressure.
However, a break below $80,000 could expose Bitcoin to further declines toward the True Market Mean near $78,000.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Generální ředitel MEXC Vugar Usi Zade tvrdí, že Bitcoin vstupuje do udržitelného býčího cyklu díky institucionální poptávce; spotové Bitcoinové ETF zaznamenaly denní čistý příliv 175,69 milionu USD.
MEXC CEO Vugar Usi Zade believes that Bitcoin is emerging from its bearish phase into a sustainable bull cycle, driven by growing institutional confidence and adoption.
The current market, according to Zade, differs greatly from the previous speculative cycles, with institutional adoption reinforcing Bitcoin’s foundation. He told AMBCrypto,
The cryptocurrency market has entered a sustainable bull trend, fundamentally different from the speculative cycles of previous years.
So, Bitcoin’s price is gradually transitioning out of its bearish cycle.
Besides, he noted BTC reporting a 32% price recovery over the last 90 days, despite sitting below its $126,000 all-time high reached on October 6, 2025.
According to Zade, Bitcoin could eventually reach $176,000, provided institutional demand remains elevated and wider economic conditions improve.
Bitcoin whales accumulate as exchange outflows deepen Bitcoin’s large holders continued moving considerable amounts of BTC, supporting the accumulation story highlighted by Zade.
In particular, Lookonchain reported on an X post that five new wallets received 1,162 BTC, worth roughly $96.77 million, from Wintermute within 12 hours.
Adding to the accumulation narrative, Bitcoin had recorded $116.14 million in weekly Spot net outflows at press time, reflecting more withdrawals than deposits across exchange platforms.
The weekly outflows implied reducing exchange-held supply, potentially limiting the amount of Bitcoin readily available for selling.
These developments notably echoed Zade’s remarks that larger investors were greatly in favor of long-term accumulation. He noted,
Furthermore, large Bitcoin holders have stopped selling, and coins are now flowing en masse into long-term accumulation wallets.
Source: Bitcoin Spot Netflows on CoinGlass ETF inflows surge as corporate Bitcoin holdings grow Aside from the accumulation narrative, participation around institutions also remained elevated across Bitcoin investment products.
Particularly, Bitcoin’s Spot ETFs recorded $175.69 million in daily net inflows at reporting time. The cumulative ETF net inflows hit $57.68 billion, while the total ETF assets stood at $109.03 billion.
Additionally, the daily ETF trading volume had reached $2.36 billion, suggesting improved activity across the regulated investment products.
Also noteworthy, the corporate accumulation remained significant, with 60 publicly traded companies collectively holding 1.27 million BTC, valued nearly $105.53 billion.
The most recent weekly accumulation totaled 3,341.07 BTC, worth approximately $288.94 million .
Notably, these developments correlated with Zade’s comments that institutional market players were becoming majorly influential in Bitcoin’s market structure.
Besides, the executive also identified $80,000 as a crucial institutional cost basis, arguing that established investors had reinforced that level as Bitcoin’s underlying support.
Source: BTC Public Companies Holdings on CoinGlass Final Summary MEXC CEO Vugar Usi Zade says Bitcoin has entered a sustainable bull cycle, with institutional adoption driving the shift.
Five new wallets received 1,162 BTC from Wintermute, Spot ETFs pulled in $175.69M in a day, and 60 public companies now hold 1.27 million BTC.
ALBUQUERQUE, N.M., Oct. 14, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the “Company” or “ARRAY”) (NASDAQ: ARRY), a leading global provider of integrated energy infrastructure products, software, and service solutions, today announced that the Company will release its third quarter 2026 results after the market closes on Thursday, November 5, 2026, to be followed by a conference call at 5:00 p.m. (Eastern Time) that same day.
The conference call can be accessed live over the phone by dialing (800)-717-1738 (domestic) or (646)-307-1865 (international), or via webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at http://ir.arraytechinc.com. A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853 (domestic), or (201)-612-7415 (international), with the passcode 13763040. The replay will be available until 11:59 p.m. (ET) on November 19, 2026. The online replay will be available for 14 days on the same website, immediately following the call.
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of integrated energy infrastructure for utility-scale and distributed generation providers. Engineered for interoperability, ARRAY’s innovative hardware, software, and services span solar trackers, fixed-tilt systems, foundations, wire management, and other balance-of-system solutions. ARRAY’s products work together to maximize energy production, withstand harsh weather conditions, and deliver value for the entire lifecycle of a project. For more news and information on ARRAY, please visit www.arraytechinc.com.
Investor Relations Contact:
Investor Relations
505-437-0010 [email protected]
ETF společnosti BlackRock zaměřené na bitcoin a ether zaznamenaly ve 3. čtvrtletí příliv 7,9 miliardy USD, čímž se digitální aktiva ve správě zvýšila o 63 % na 79,6 miliardy USD.
BlackRock's Bitcoin ($BTC) and Ether ($ETH) ETFs took in $7.9B in Q3 2026, lifting digital asset AUM 63% to $79.6B as firm-wide AUM reached $15.5T.
@BlackRock's digital asset funds returned to net inflows in the third quarter, reversing the outflows seen earlier in 2026. The asset manager took in $7.9 billion for its Bitcoin ($BTC) and Ether ($ETH) ETFs, after about $2.2 billion left in the first half of the year.
Rising prices did most of the work. Market gains added another $22.9 billion, lifting digital asset assets under management (AUM) 63% to $79.6 billion from $48.8 billion at the end of June, according to CoinDesk.
Crypto rebound still short of the 2025 peakDespite the quarterly jump, BlackRock's crypto holdings remain 23% below year-ago levels. CoinDesk reported that investors added $6.3 billion over the past 12 months, but the decline in asset values outweighed those contributions. The firm's digital asset AUM peaked at around $104 billion in September 2025.
The category is driven mainly by two products: the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA), Crypto Briefing reported. The same report said the $7.9 billion was the strongest quarterly inflow figure since the third quarter of 2025, and that Bitcoin rose more than 42% over the quarter.
Firm-wide inflows reach $205 billionAcross the group, BlackRock drew $205 billion in net inflows in the third quarter, with total AUM reaching $15.5 trillion, according to the company's third-quarter 2026 earnings release. The release put iShares ETF net inflows at $135 billion and active net inflows at $66 billion. Revenue rose 19% year over year.
Digital assets remain a small part of the overall business. They contributed about $8 billion of the $135 billion in ETF flows, according to Crypto Briefing. Still, the third-quarter figures show institutional demand for regulated Bitcoin and Ether exposure returning as crypto prices recovered from the first-half slump.
Sources:
CoinDesk: BlackRock's crypto ETF assets surge 63% but remain far below 2025 peak
BlackRock: Third Quarter 2026 Earnings Release
Crypto Briefing: BlackRock's crypto ETF assets jump 63% to roughly $80 billion in Q3
XRPL Commons umožní více než 400 vývojářům na newyorském hackathonu testovat nativní nástroje pro půjčování na XRP Ledgeru ještě před jejich schválením validátory.
XRPL Commons has announced early access to the XRP Ledger’s proposed native lending tools at its Oct. 24–25 New York hackathon, with more than 400 builders registered for the 36-hour event while validator voting continues.
Summary
More than 400 builders have registered for the New York event, according to XRPL Commons.
Developers will test lending and vault tools before the proposed amendments reach mainnet.
Four development tracks offer more than $40,000 in prizes and access to incubation.
Activation requires sustained validator support, with no fixed launch date for the lending proposals.
XRPL Commons, the Paris-based nonprofit supporting XRP Ledger development, said participants in its AI & Fintech XRPL Hackathon will build lending applications using test versions of XLS-65 and XLS-66. The organization named Ripple, the XRPL Foundation, Mastercard, Amazon Web Services, Ledger and QuickNode as partners backing the event.
With the amendments still awaiting approval, the organizer said teams will work in a test environment rather than launch native lending products on the main network. Ripple has already made the proposed protocol available for developers to test.
XRP Ledger lending still depends on validator approval
Under the proposed framework, XLS-65 would introduce Single Asset Vaults, allowing several depositors to pool one asset, such as XRP or Ripple’s dollar stablecoin RLUSD. The design gives each depositor shares representing their portion of the pool, according to XRPL Commons.
XLS-66 would use those pooled assets to fund fixed-term loans. As described in the lending proposal, borrowers and designated loan managers would agree on interest, repayment schedules, and other terms, while the ledger would record and manage the resulting credit arrangements.
Rather than require borrowers to lock up assets worth more than their loans, the proposed system relies on credit assessments outside the blockchain. According to the protocol’s design, a first-loss capital buffer can absorb an initial portion of losses when a borrower defaults.
For applications using the proposed features, XRPL Commons said lending could operate directly on the ledger without a bridge to another blockchain or a separately deployed smart contract.
“Developers have an opportunity to bring proven DeFi models to the XRP Ledger—and build financial applications that have yet to move on-chain,” said Odelia Torteman, head of digital assets at XRPL Commons.
Torteman said the proposed vault and lending functions would add a credit layer, creating ways to use XRPL-based assets “without bridges or custom smart contracts.”
As crypto.news reported on Aug. 10, Ripple’s validator backed both lending amendments. Under the network’s amendment rules, however, proposals must maintain support from more than 80% of trusted validators for two consecutive weeks before activation.
XRPL documentation describes that voting process as the mechanism for introducing changes to the core protocol. The hackathon announcement sets no activation date, leaving participating teams to develop against test versions while validators make their decisions.
Lending software changes add defined vault periods
The lending proposals have also undergone changes beyond the original vault and loan framework.
In coverage published on Sep. 18, XRPL developers’ version 3.4.0 lending changes included a separate amendment called LendingProtocolV1_1. According to the release documentation cited in that report, the amendment introduces closed-ended vaults with defined periods for deposits, investment, and redemption.
Under Ripple’s technical documentation, deposits and withdrawals stop during the investment period while pooled assets can fund loans. Redemption begins after that period ends, allowing depositors to recover their share once loans mature.
The documentation also sets out cash-basis accounting, under which new vaults would recognize interest when borrowers pay it rather than count all scheduled interest when a loan begins. The additional amendment remains dependent on the underlying lending architecture and its own approval process.
Commercial developers have announced preparations alongside that work. On Sep. 11, Clearpool outlined its planned XRPL credit expansion, proposing lending products built around the native vault and lending standards.
According to Clearpool’s proposal, Ripple committed capital toward products offering yield opportunities using XRP and RLUSD. An associated arrangement with Cicada Partners would provide RLUSD-denominated working-capital loans to fintech and payment companies, with Cicada handling borrower selection, loan terms, and credit risk.
For U.S. institutions considering RLUSD-based products, Ripple says Standard Custody & Trust Company issues the stablecoin under a limited-purpose trust charter supervised by the New York State Department of Financial Services. The state regulator separately lists Standard Custody as a chartered trust company.
New York teams will compete across four tracks
Alongside Lending & Borrowing, XRPL Commons said the hackathon will offer Protocol Innovation, Agentic Finance and an open category called Why Not.
For the protocol track, the organizer is seeking C++ and systems engineers to work on amendments, client software, and developer tools. A three-day Core Dev Bootcamp will run in New York on Oct. 20–22 before the weekend competition.
The Agentic Finance track will cover infrastructure that allows AI agents to make payments and manage funds on the XRP Ledger, according to the event description. XRPL Commons said developers can use existing ledger functions, including escrow and Credentials, in their applications.
The organizer has opened participation to developers new to XRPL as well as established teams. Its event materials list more than $40,000 in prizes, including dedicated bounties from Mastercard, Ledger, QuickNode and AWS.
Mastercard’s involvement was previously announced on Aug. 26, as reported in Aug. 27 coverage of its New York hackathon sponsorship. Separately, Mastercard announced plans in June to support regulated stablecoin settlement, naming RLUSD and the XRP Ledger among the assets and networks in its expansion.
For the competition, XRPL Commons said mentors and judges will include representatives from the sponsoring companies, Ripple and the XRPL Foundation. Its list also includes t54.ai, Evernorth, Soil, XRPScan, Common Prefix, Sum, Blockvault and the European Business School.
Winning teams can enter XRPL Commons incubation
Beyond the prize competition, XRPL Commons said top teams will receive fast-track access to grants and incubation. The hackathon is scheduled ahead of Ripple’s Swell conference, which runs Oct. 27–29 at The Shed in New York.
“We’re inviting developers and innovators to New York to turn these building blocks into working products over one weekend,” said David Bchiri, president of XRPL Commons.
Bchiri said the organization would support selected projects after the event through incubation and introductions to partners and investors.
Founded in 2023, XRPL Commons says it has incubated more than 70 projects and works with over 5,000 active builders. The nonprofit named ReGolda, Blockvault and MobileWallet among its alumni.
According to the organization, its three-month Make Waves buildathon involved 171 builders and produced 56 mainnet launches. Four participating teams are entering the ninth cohort of its Aquarium incubator, alongside Megawatt, the Paris Blockchain Week hackathon winner that began incubation this month.
DriveWealth, a global Brokerage-as-a-Service platform, is integrating Ripple’s blockchain infrastructure to modernize funding, settlement and institutional digital assets custody across global financial markets.
The partnership will initially introduce Ripple’s RLUSD stablecoin settlement on the XRP Ledger in Europe, with plans to expand into the U.S.
Additionally, the companies are exploring equity financing opportunities through Ripple Prime’s Delta One business.
The integration will allow DriveWealth clients to fund collateral accounts using stablecoins that convert into cash in near real time, reducing reliance on traditional bank wires.
“We’ve already enabled 24/5 trading; now we need the funding to match,” said DriveWealth CEO Naureen Hassan.
Ripple SVP of Stablecoins Jack McDonald said the partnership extends beyond cross-border settlement to modernize trading, custody and financial infrastructure.
Evernorth To Deploy 473 Million XRP TreasuryNasdaq-listed Evernorth Holdings Inc. (NASDAQ:XRPN) announced Ripple, Kraken, Coinbase (NASDAQ:COIN) and BitGo as its inaugural institutional execution partners.
The company plans to begin deploying its 473 million XRP treasury in Q4 of 2026, shifting from passive holdings toward institutional strategies designed to generate earnings and increase XRP (CRYPTO: XRP) per share.
"We’re putting our treasury to work," said Evernorth founder and CEO Asheesh Birla.
Evernorth will initially deploy capital through established institutional counterparties before expanding into DeFi strategies as XRPL’s native lending and on-chain credit infrastructure matures.
Image: Shutterstock
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