Track market-moving stories before they get noisy

Key Takeaways SPB's Q3 net sales rose 7.7%, while organic sales increased 6.6% across all three businesses.Innovation in Pet Care and Home & Garden is expanding distribution and strengthening the product pipeline.Digital commerce, ERP upgrades and cost initiatives aim to improve efficiency and strengthen profitability. Spectrum Brands Holdings, Inc. (SPB - Free Report) is pursuing growth by focusing on product innovation, consumer-centric marketing, digital commerce and operational improvements. The company is also working to strengthen its businesses' commercial performance while maintaining disciplined financial management. During the third quarter of fiscal 2026, net sales grew 7.7% year over year, while organic net sales increased 6.6%, supported by growth across all three business segments.

Innovation remains central to Spectrum Brands’ growth strategy, particularly across its Global Pet Care and Home & Garden businesses. The company continues to prioritize consumer-focused product development and distribution expansion to strengthen its brands and gain market share. In Home & Garden, products such as Spectracide Wasp and Hornet Traps have benefited from broader distribution and strong demand. These initiatives support category growth and reinforce the company’s focus on improving commercial performance.

Digital commerce and operational transformation remain important priorities. Spectrum Brands is advancing its digital selling capabilities and consumer engagement efforts while strengthening the systems that support its businesses. In July 2026, the company completed the first SAP S/4HANA deployment in its North American Home & Personal Care business and finalized implementation across the remaining Global Pet Care and Home & Garden entities. As a result, all Global Pet Care and Home & Garden operations, along with all Home & Personal Care operations except EMEA, now run on a unified enterprise resource planning platform.

The remaining EMEA implementation is expected later in 2026, completing a multiyear transformation intended to standardize processes and improve operational efficiency. Spectrum Brands continues to use pricing, productivity and cost controls to offset tariff and inflation costs. In third-quarter fiscal 2026, positive pricing contributed across all three businesses. The tariffs and inflation are expected to be largely offset in fiscal 2026 through mitigation measures, including pricing.

Overall, Spectrum Brands is strengthening its brand portfolio and improving commercial execution through investments in product innovation, consumer insights, digital commerce and operational efficiency. Global Pet Care and Home & Garden remain key growth drivers, benefiting from new product launches, stronger distribution and market-share opportunities. Sustained progress in these areas, alongside disciplined cost management and operational improvements, will be important to supporting revenue growth, enhancing profitability and driving long-term performance.

SPB’s Price Performance, Valuation and EstimatesSpectrum Brands’ shares have lost 1.4% in the past six months against the industry’s 4.3% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, SPB trades at a forward price-to-earnings ratio of 13.56X compared with the industry’s average of 14.33X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for SPB’s fiscal 2026 earnings per share (EPS) indicates a year-over-year rise of 17.5%, while that of fiscal 2027 EPS shows a decline of 11.1%. The company’s EPS estimates for fiscal 2026 and fiscal 2027 have been stable over the past 30 days. 

Image Source: Zacks Investment Research

Spectrum Brands currently carries a Zacks Rank #3 (Hold).

Key Picks in the Broader Consumer Discretionary SpaceDuluth Holdings Inc. (DLTH - Free Report) , which deals in casual wear, workwear and accessories for men and women, currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Duluth Holdings delivered a trailing four-quarter earnings surprise of 122.5%, on average. The Zacks Consensus Estimate for DLTH’s current financial-year EPS indicates a rise of 18.6% from the year-ago number.

G-III Apparel Group, Ltd. (GIII - Free Report) designs, sources, distributes and markets a broad range of apparel and accessories under owned, licensed and private-label brands, and currently carries a Zacks Rank of 2.

The Zacks Consensus Estimate for G-III Apparel’s current financial-year sales is expected to decline 8.4% from the corresponding year-ago reported figure. GIII delivered a trailing four-quarter earnings surprise of 1.4%, on average.

Ralph Lauren Corporation (RL - Free Report) , which is a designer and marketer of premium lifestyle products, currently carries a Zacks Rank of 2.

RL delivered a trailing four-quarter earnings surprise of 8.7%, on average. The Zacks Consensus Estimate for Ralph Lauren’s current financial-year sales indicates growth of 7.6% from the year-ago number.

SAXONBURG, Pa., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR) (“Coherent,” “We,” or the “Company”), a global leader in photonics, announced today that it will release its financial results for the quarter ended September 30, 2026, on Wednesday, November 4, after the New York Stock Exchange closes. The release will be followed by a live audio webcast at 4:30 p.m. ET to discuss the results.

The Company invites investors to join the live audio webcast at ir.coherent.com. The webcast will be recorded and a replay will be available within 24 hours after the live audio webcast on the company’s website.

About Coherent

Coherent is the global photonics leader. We harness photons to drive innovation. Industry leaders in the datacenter, communications, and industrial markets rely on Coherent’s world-leading technology to fuel their own innovation and growth.

Founded in 1971 and operating in more than 20 countries, Coherent brings the industry’s broadest, deepest technology stack; unmatched supply chain resilience; and global scale to help its customers solve their toughest technology challenges. For more information, please visit us at coherent.com.

Contact:

Paul Silverstein
Senior VP, Investor Relations
[email protected] 

The Wendy's Company (NASDAQ:WEN), the US fast-food chain, faces a longer and more expensive turnaround as Jefferies cuts earnings forecasts and lowers its price target to $6.50 from $7.50.

The broker maintains a 'hold' rating, arguing that soft quick-service restaurant (QSR) industry trends, potential franchise closures and higher investment requirements warrant a more conservative outlook under new chief executive Wright.

Jefferies expects US same-store sales, which track sales at established restaurants, to fall 6.8% in the third quarter, compared with the market consensus for a 6.5% decline, while international sales are forecast to drop 3%.

The broker also expects earnings per share (EPS) of $0.09 for the quarter, below the consensus estimate of $0.10, with earnings before interest, tax, depreciation and amortisation (EBITDA) forecast at $101 million against expectations of $103 million.

Jefferies expects Wendy’s to close a net of 291 US restaurants in 2026, compared with the market forecast of 277 closures, before further net reductions of 68 locations in 2027 and 60 in 2028.

The revised forecasts reflect concerns about financially stretched franchise operators facing high interest rates, rising beef and labour costs, and expensive restaurant construction.

One of Wendy’s largest franchisees filed for bankruptcy in September, although the company has contested the proceedings in light of an earlier termination of its franchise agreement.

Jefferies believes further closures are possible over the next 6 to 12 months as Wendy’s works to strengthen its franchise network, although it acknowledges limited visibility over the final outcome.

The broker has also cut its international restaurant growth forecasts slightly but expects the overseas business to remain a net contributor, with 94 net additions in 2026, 110 in 2027 and 122 in 2028.

Jefferies forecasts earnings per share of $0.48 in 2026, $0.40 in 2027 and $0.47 in 2028, below consensus estimates of $0.50, $0.52 and $0.61, respectively.

The reductions reflect additional spending on food quality, technology, franchisee training, operational support and incentives intended to improve the brand and its restaurant network.

Jefferies expects the market’s earnings forecasts to drift lower because analysts have yet to fully account for the transition, although it believes investors already understand the broad challenges facing the business.

The broker sees promise in Wright’s previous turnaround experience and familiarity with Wendy’s, alongside the appointment of new chief marketing officer Tariq Hassan, who joined from McDonald’s in August.

Jefferies values Wendy’s at about 8.5 times its reduced 2027 EBITDA forecast, while warning that the recovery will take time in a difficult operating environment.

Key Takeaways Glaukos shares gained 36.8% in six months, outperforming the industry's 8% growth on commercial progress.GKOS posted 50% revenue growth to $185.6 million in Q2 and raised its 2026 sales outlook to $680-$700 million.Epioxa's commercial expansion, positive iDose TR data and pipeline advances boosted GKOS' growth prospects. Glaukos Corporation (GKOS - Free Report) shares have gained 36.8% over the past six months, outperforming its industry’s 8% growth. This reflects growing investor confidence in its ophthalmic treatment portfolio. The rally has been supported by the commercial expansion of iDose TR, progress in launching Epioxa for keratoconus, and clinical and pipeline developments that strengthen the company's long-term growth prospects.

Headquartered in Aliso Viejo, CA, Glaukos develops pharmaceutical and medical technology solutions for glaucoma, corneal disorders and retinal diseases. Its focus on interventional therapies, which seek to improve treatment outcomes while reducing reliance on conventional approaches, provides multiple growth opportunities. Recent commercial milestones, better-than-expected results and encouraging clinical developments have reinforced the investment case for GKOS.

Here, we examine the key factors that may have driven GKOS’ significant share price gains over the past six months.

Image Source: Zacks Investment Research

Commercial Progress With EpioxaThe first catalyst over the past six months was the receipt of a permanent Healthcare Common Procedure Coding System (HCPCS) J-code for Epioxa. Code J2789 became effective on July 1. The product-specific code should help streamline reporting and reimbursement by U.S. payers, supporting market access for the company's epithelium-on corneal cross-linking therapy. This milestone strengthened the commercial launch framework for Epioxa, which treats keratoconus, a progressive, sight-threatening corneal disease.

Earlier this month, Glaukos reported positive three-year results from a Phase 3 extension study of Epioxa. Treated eyes maintained a 1.9-diopter improvement in maximum corneal curvature from baseline, while 29% gained at least two lines of best-corrected visual acuity. The results supported the therapy's potential to deliver durable benefits following a single treatment. The benefits demonstrated in the clinical study may lead to higher adoption of the drug going forward.

Strong Q2 Results and Higher GuidanceGlaukos’ second-quarter results provided a strong fundamental basis for the rally. Consolidated net sales increased approximately 50% year over year to a record $185.6 million, prompting management to raise its 2026 revenue guidance to $680-$700 million from $620-$635 million. The company also recorded lower-than-expected loss during the quarter. Loss per share of 14 cents beat the Zacks Consensus Estimate by 50%.

The U.S. glaucoma franchise generated $118.5 million in sales, up 64% year over year, with iDose TR contributing approximately $74 million. International glaucoma sales increased 17% to $36.6 million, while Corneal Health revenues rose 48% to $30.4 million, including approximately $11 million from Epioxa.

Management also highlighted progress in Epioxa’s commercial rollout, with access pathways covering more than 125 million commercially insured U.S. lives and a treatment-center network spanning locations that serve roughly 85% of the U.S. population. These developments indicate that Glaukos is establishing the infrastructure needed to translate clinical interest into sustained commercial growth.

Positive Clinical Evidence and Pipeline ExpansionGlaukos’ uptrend has also been supported by continued progress with its pipeline development. Successful clinical trials can pave the way for further studies or regulatory approvals, ultimately enabling commercialization and improving sales prospects.

In June, Glaukos announced completion of patient enrollment in the Phase 2 study of GLK-321, an investigational treatment for Demodex blepharitis. The candidate uses the company's iLution platform, which is designed to deliver medication through the eyelid skin rather than conventional eye drops. The enrollment milestone advanced its ocular-surface disease pipeline and expanded the company's opportunities beyond its established glaucoma and corneal franchises.

The momentum continued in July as Glaukos completed patient enrollment in the U.S. pivotal study of PRESERFLO MicroShunt, a minimally invasive drainage device intended to lower intraocular pressure in patients with primary open-angle glaucoma who have not responded adequately to previous medical and surgical treatment. The milestone advanced the program toward a potential FDA marketing submission soon.

Last week, Glaukos announced an exclusive licensing agreement with RevOpsis Therapeutics for RO-104, an investigational tri-specific biologic targeting three angiogenic pathways implicated in retinal diseases. The agreement also provided rights to develop up to four additional retinal biologic candidates, broadening Glaukos' longer-term innovation opportunities.

During the same week, positive Phase 4 results for iDose TR used in conjunction with cataract surgery marked another encouraging clinical milestone. At three months, the combination achieved an 11.1-mmHg reduction in mean diurnal intraocular pressure, compared with 7.4 mmHg for cataract surgery alone. The statistically significant results strengthened the evidence supporting iDose TR across different treatment settings.

Concerns for GKOSGlaukos faces reimbursement uncertainty for iDose TR, as proposed Medicare coverage policies could introduce treatment restrictions and affect adoption. Epioxa's commercialization also faces near-term volatility as providers transition to its permanent J-code, potentially delaying revenue realization.

International operations remain exposed to competitive pressures and reimbursement headwinds in Germany and Switzerland. Moreover, sustained investments in commercial infrastructure and clinical development could delay profitability, while the success of pipeline candidates remains subject to clinical and regulatory risks.

ConclusionGlaukos’ six-month rally reflects a combination of robust revenue growth, raised guidance, improving commercialization prospects and positive clinical developments. Carrying a Zacks Rank #2 (Buy) at present, the company is likely to sustain its uptrend on the back of continued adoption of iDose TR and Epioxa, while its expanding pipeline offers additional long-term opportunities.

A Glance at GKOS’ EstimatesThe Zacks Consensus Estimate for 2026 suggests a 64.4% narrower loss of 32 cents per share while the same for 2027 EPS is pinned at 55 cents per share. In the past 60 days, the Zacks Consensus Estimate for the company's 2026 loss per share has narrowed 8.6%. 

Revenues for 2026 are projected to grow 36.2% to $691 million, followed by a 20.9% jump to $835.2 million in 2027.

Other Key PicksSome other top-ranked stocks from the broader medical space are OPKO Health (OPK - Free Report) , Globus Medical (GMED - Free Report) and Merit Medical Systems (MMSI - Free Report) .

OPKO Health, currently flaunting a Zacks Rank #1 (Strong Buy), reported a second-quarter 2026 adjusted loss of 1 cent per share, which surpassed the Zacks Consensus Estimate by 87.5%. Revenues of $163.6 million beat the Zacks Consensus Estimate by 24.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

OPK has an estimated earnings growth rate of 23.3% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 95.1%.

Globus Medical, currently carrying a Zacks Rank #2, reported a second-quarter 2026 adjusted EPS of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%.

GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%.

Merit Medical Systems, carrying a Zacks Rank #2 at present, reported second-quarter 2026 adjusted EPS of $1.19, which beat the Zacks Consensus Estimate by 23.9%. Revenues of $418.8 million surpassed the Zacks Consensus Estimate by 3.5%.

MMSI has an estimated long-term earnings growth rate of 10.4%. MMSI’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 14.1%.

Babylon Labs is pushing forward a plan to let people borrow on Aave V4 using Bitcoin that never leaves the Bitcoin network.

The pitch is simple. Your BTC stays put, you borrow against it, and nobody has to hold your coins for you.

The catch, as with most things in DeFi governance, is that the paperwork isn’t finished. Risk parameters still need to be set, and more Aave DAO votes are required before anything goes live on mainnet.

How the setup actually works
The proposal is built on Babylon’s Trustless Bitcoin Vaults protocol, or TBV. Instead of wrapping BTC into a token on another chain, TBV locks the coins in self-custodial Taproot UTXOs on Bitcoin itself.

Think of it as a safe deposit box with programmable rules. The box sits on Bitcoin, and the rules decide when the contents can move.

Those rules are enforced through Taproot scripts and zero-knowledge proofs. Put plainly, cryptography plays the role a custodian normally would, and no third party ever holds the keys.

On the Aave side, deposits show up through an internal accounting unit called vaultBTC. It acts as a verifiable record of the BTC sitting in vaults, which Aave can then treat as collateral.

The integration leans on Aave V4’s modular design, which organizes markets into components called spokes. Babylon’s plan adds two of them.

The first is the Babylon Core Lending Spoke. This is where borrowers would post vault-backed BTC and take out assets such as USDC, USDT and WBTC.

The second is the BTC Vault Swap Spoke. Its job is to handle the messy part of lending: liquidations.

The WBTC twist in liquidations
Every lending market lives or dies by its liquidations. When a loan’s collateral falls below a safe threshold, outside parties called liquidators step in, repay the debt and collect the collateral at a discount.

That works smoothly when the collateral is a token sitting on the same chain. It gets awkward when the collateral is locked BTC on an entirely different network.

Babylon’s answer is to keep the collateral on Bitcoin while settling liquidations in WBTC. Through the BTC Vault Swap Spoke, liquidators would receive WBTC immediately rather than waiting on native BTC to move.

So liquidators get a familiar asset they can use right away on Ethereum. Borrowers, meanwhile, never had to wrap anything going in.

The design keeps liquidations permissionless, meaning anyone can act as a liquidator. Babylon has published documentation on the liquidation model in its developer docs.

Importantly, control over risk settings stays with the Aave DAO. Babylon builds the plumbing, but tokenholders decide how much can be borrowed and when positions get closed out.

A timeline measured in governance phases
Babylon and Aave first announced their partnership on December 3, 2025. The idea moved into Aave’s formal process with a DAO temperature check that began on May 25, 2026.

A temperature check is Aave’s version of a show of hands. It gauges interest before a proposal moves into the heavier ARFC and AIP stages, which are the detailed request-for-comment and final on-chain vote phases.

Public testnet deployment for native BTC-backed borrowing was active by October 2026. Around the same time, HashKey Cloud’s integration of TBV for institutional clients was confirmed on October 7, 2026.

That institutional piece matters. Custody-wary funds have often been the loudest critics of wrapped Bitcoin, so a trust-minimized route may appeal to exactly that crowd.

Still, testnet is testnet. Real money hasn’t touched this design yet, and the remaining ARFC and AIP phases are where proposals tend to get picked apart line by line.

Why this matters for Bitcoin in DeFi
Bitcoin has always had an awkward relationship with DeFi. It’s the largest crypto asset, yet using it in lending markets has usually meant wrapping it and trusting someone to hold the real coins.

That tradeoff has kept plenty of long-term holders on the sidelines. For a group whose motto is roughly “not your keys, not your coins,” handing BTC to a custodian is a tough sell.

Babylon’s model tries to remove that objection entirely. If it works as described, holders could tap lending markets without ever giving up custody.

There’s also an interesting second-order effect on Aave itself. The protocol holds one of its largest token supplies in WBTC, but borrow demand for that WBTC has historically lagged.

In other words, a lot of WBTC sits in Aave’s pools doing very little. Since liquidators in Babylon’s design get paid in WBTC and borrowers can take out WBTC, the integration could potentially put more of that idle supply to work.

What to watch
The first thing to track is the risk parameters. Loan-to-value ratios, liquidation thresholds and supply caps will determine whether this is a niche experiment or a serious Bitcoin borrowing venue.

Conservative settings would limit early risk but also limit appeal. Aggressive ones would attract borrowers while putting more weight on the untested liquidation path.

The second is how the WBTC settlement holds up under stress. A design that pays liquidators instantly needs enough liquidity behind it during a sharp BTC drawdown, which is precisely when everyone wants out at once.

The third is competition. Wrapped Bitcoin products have long dominated BTC collateral in DeFi, and a credible native alternative on the largest lending protocol would put pressure on custodial models to justify their trust assumptions.

For BTC holders, the appeal is clear: borrowing power without surrendering custody. For Aave, it’s a shot at drawing in a huge pool of capital that has mostly stayed on the sidelines. Whether both sides get what they want now depends on a few more rounds of DAO voting.

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

 | Source: ServisFirst Bancshares, Inc.

BIRMINGHAM, Ala., Oct. 14, 2026 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc., (NYSE: SFBS) (“ServisFirst”), the holding company for ServisFirst Bank, today announced that its Board of Directors has approved a stock repurchase program, under which ServisFirst may repurchase up to two million shares of its outstanding common stock through December 31, 2027. Repurchases may be made from time to time in the open market at prevailing prices and based on market conditions, or in privately negotiated transactions.

This represents ServisFirst’s inaugural stock repurchase program and reflects the Board’s confidence in ServisFirst’s financial strength, capital position, and long-term growth prospects, and commitment to capital management tools that allow ServisFirst to maximize shareholder value.

About ServisFirst Bancshares, Inc.

ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank, ServisFirst Bancshares, Inc. provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, Texas and Virginia. Through the Bank, we originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions. ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbank.com.

Statements in this press release that are not historical facts, including, but not limited to, statements concerning the amount, timing, manner and overall impact of future purchases under the repurchase program, as well as any other statement regarding future operations, results or performance, are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”). The words “believe,” “expect,” “anticipate,” “project,” “plan,” “intend,” “will,” “could,” “would,” “might” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst, are necessarily estimates reflecting the judgment of ServisFirst’s senior management and involve risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our most recent Annual Report on Form 10-K, "Forward-Looking Statements" and "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. ServisFirst assumes no obligation to update or revise any forward-looking statements that are made from time to time.

More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at www.servisfirstbank.com or by calling (205) 949-0302.

Contact: ServisFirst Bank
Davis Mange (205) 949-3420
[email protected]

Uniswap [UNI] showed signs of a potential reversal after buyers defended the $6.80 daily demand zone.

The rebound produced a bullish shift on the hourly chart, following the setup outlined in AMBCrypto’s earlier analysis.

Meanwhile, Uniswap reported that v4, its fourth-generation decentralized exchange protocol, processed over $44 billion in 30-day Trading Volume.

With buyers regaining ground and protocol activity growing, UNI’s recovery had support from two fronts. Whether that translates into sustained gains would depend on demand for the altcoin itself.

Source: TradingView
Can UNI buyers build on THIS?
On the hourly chart, UNI’s positive reaction at $6.80 strengthened the recovery setup. Buyers defended the daily demand zone before breaking the recent bearish pattern, suggesting short-term momentum was turning bullish.

For holders, this offered an encouraging change after the altcoin’s recent weakness. However, an hourly reversal still needs follow-through before supporting a broader recovery.

On the daily chart, UNI traded above its 20-day, 30-day, and 50-day Exponential Moving Averages (EMAs). That positioning supported the bullish outlook. Buyers would need to sustain the rebound, as renewed selling could undermine their recently regained control.

Source: TradingView
Could crowded UNI longs threaten the recovery?
The Long/Short Ratio data showed longs accounting for roughly 63% of the tracked positioning, indicating a clear bullish preference. That bias could accompany further gains if Spot demand strengthens. However, leveraged longs can also become vulnerable when buying pressure fades.

If UNI reverses, forced closures could amplify selling and put the recovery under pressure. The next test is whether buyers continue supporting the price after the initial bounce.

Long positioning alone would give bulls limited protection against another rejection.

Source: Coinalyze
Can Uniswap v4 activity help UNI reach $11?
Uniswap v4’s $44 billion in 30-day Trading Volume represented approximately 49.9% of volume across Uniswap versions. That showed substantial usage of the latest iteration.

However, protocol Trading Volume measures swaps across supported tokens, rather than buying demand for UNI alone.

For now, defending $6.80 and reclaiming the hourly trend favored buyers. Sustained demand could help the altcoin advance toward overhead liquidity.

The Liquidation Heatmap showed a cluster worth approximately $535.10 million around $11, making that area a potential upside objective.

Source: CoinGlass
Still, the cluster does not guarantee a move to $11. Renewed weakness or a sharp unwinding of longs could interrupt the recovery before UNI reaches that level.

Final Summary

UNI’s defense of $6.80 supported a recovery, while crowded longs could amplify losses if demand weakens.
Uniswap v4’s growing usage strengthened the adoption case; $11 remained a conditional liquidity target for UNI.

Dubai International Financial Centre (DIFC) Courts is using Avalanche to make documents verifiable anywhere in the world, as the network also moves into the UAE’s national digital identity infrastructure.

A court order is only useful if the institution receiving it can trust that it is real. That gets more complicated when the court is in Dubai, the recipient is a bank or company thousands of miles away, and the two have no existing relationship.

The question matters most for a court whose documents are meant to travel. Any two parties, anywhere in the world, can choose the Dubai International Financial Centre (DIFC) Courts as the forum for their commercial disputes by including a single clause in their contract, with no UAE connection required. When a DIFC Courts document is used in another jurisdiction, the recipient may need to establish both its legal status and its authenticity. 

That problem is particularly relevant for the DIFC Courts. The independent, English-language common law jurisdiction has been open to businesses worldwide since 2011, and any two parties can choose it as the forum for a commercial dispute regardless of whether either has a connection to the UAE. Its documents, in other words, are designed to travel.

The systemThe DIFC Courts are an independent, English-language common law jurisdiction in Dubai. Established in 2004, they have been open to businesses worldwide since 2011, and they operate at 99 percent digital.

Court orders and hearing records issued by the DIFC Courts carry a unique, non-transferable digital authenticity credential. A recipient anywhere in the world can use it to confirm, within seconds, that the DIFC Courts issued the document and that the file is identical to the version recorded at issuance.

Documents covered: court orders and hearing records

Time to verify: seconds, from anywhere in the world

Network: Avalanche C-Chain, Avalanche's public blockchain

Recorded onchain: a cryptographic hash of the document and the credential, and nothing else

Credential: non-transferable, representing no ownership, monetary value or transferable right

What Avalanche makes possibleVerification from anywhereWhen the DIFC Courts issue a court order or hearing record through their existing digital document infrastructure, a cryptographic hash of the file is linked to a unique NFT-based credential recorded on Avalanche. This creates a timestamped record tying the credential to the document as issued. A recipient checks the file against the credential, a match confirms that the DIFC Courts issued the document and that it has not changed. If anything in the file has been altered, the check fails.

Because the record sits on Avalanche's public blockchain, verification does not depend on access to the Courts' internal systems. The record also settles quickly. For parties who choose the DIFC Courts, the credential resolves the authenticity step of using a court document abroad. 

Verification without disclosureBecause Avalanche is a public network, the system is designed to make authenticity verifiable without making the underlying document public. Only a cryptographic fingerprint of the document and its authenticity credential are recorded onchain while the document itself, its contents, and any confidential case information remain private. The credential exists solely to verify that the document is the version issued by the DIFC Courts. It carries no ownership, monetary value or transferable right in the underlying judicial document.

A model for other institutionsHis Excellency Justice Omar Al Mheiri, Director of DIFC Courts, summarized the principle behind the system: "Confidence in the authenticity of a court document should not depend on geography." As one of the institutional pillars of Dubai's economic growth strategy, the DIFC Courts frame the initiative as support for the objectives of the Dubai Digital Strategy and the Dubai Economic Agenda D33.

For any business weighing blockchain, the features that matter here are practical ones. The system runs behind the Courts' existing document infrastructure, so the people who use it do not have to change how they work. Confidential data never goes onchain. Verification does not depend on access to the issuer's systems. Records on Avalanche also settle in under a second, with no way to roll them back.

"The strongest blockchain applications are often the ones people barely notice," said Ava Labs Chief Business Officer John Nahas. "DIFC Courts is using Avalanche to make critical documents verifiable across borders in seconds while keeping confidential information offchain. It is a powerful example of trusted institutions adopting purpose-built infrastructure without asking people to change how they interact with them."

The same direction in UAE digital governmentThe DIFC Courts are not alone among UAE public bodies in turning to Avalanche for verified documents. The Telecommunications and Digital Government Regulatory Authority (TDRA) is working with Deca4 and Ava Labs to bring Avalanche technology into the blockchain layer behind the Digital Vault in UAE PASS, the national digital identity platform. The Digital Vault lets users store, request and share verified government documents, and UAE PASS serves more than 12.5 million people across more than 15,000 services. 

The two systems serve different audiences. A national identity platform mostly serves people inside the UAE. A court whose jurisdiction any two parties can choose issues documents that travel to recipients who may have no connection to the UAE at all. That is why a public chain fits the court's case. What the two systems share is the requirement. A document issued by a public authority should be checkable by whoever receives it.

ConclusionGo back to the bank from the start of this piece. When a court order from the DIFC Courts arrives, the bank no longer has to contact the Courts to find out whether it is real. It checks the file against the credential on Avalanche's public blockchain. If the file matches, the DIFC Courts issued it and no one has changed it since. If anything has been altered, the check fails. Whether the order applies in the bank's country is still a legal question, but whether the document is genuine can now be answered across borders.

Internet Computer (ICP) averaged about 1,816 transactions per second over the past week, narrowing the gap with Solana (SOL), which still leads at 1,896 tx/s, per Chainspect data.

Internet Computer is closing in on Solana in real-world throughput. Over the past week, @dfinity's network averaged about 1,816 transactions per second (tx/s), according to @chainspect_app data.

@Solana still leads the metric at 1,896 tx/s. However, $SOL's figure has fallen by nearly 1% over the period, while the throughput of $ICP, the native token of Internet Computer, has climbed by 6.33%. On those numbers, the gap between the two networks is now around 80 tx/s.

How the gap has narrowedThe latest reading is a notable shift from recent snapshots. In mid-September, Chainspect's weekly ranking put Solana at 1,710 tx/s and Internet Computer at 1,502 tx/s, a difference of 208 tx/s, Hokanews reported. In that ranking, BNB Chain was third at 213.7 tx/s, well behind both networks.

Rankings between the two chains have also swung with the measurement window. Chainspect figures cited by The Crypto Times showed Solana ahead on a one-hour basis in August, at 1,635 tx/s versus 1,309 tx/s for Internet Computer. By contrast, a May report from Bankless Times said Internet Computer averaged 2,554 tx/s over a week, against 1,153 tx/s for Solana. Short-term load can move these figures considerably.

Why the numbers differThe two networks are built differently. Internet Computer splits its workload across more than 49 independent subnets, each running its own consensus, which lets the chain scale horizontally rather than through a single execution layer, Bitget News reported citing Chainspect. Solana relies on a single high-speed chain.

Chainspect's cumulative data also shows Internet Computer ahead on lifetime transactions. As of 11 August, it recorded a total of more than 298 billion for Internet Computer, compared with 121 billion for Solana, according to The Crypto Times.

Throughput is only one measure of network health. Usage and token valuation have not moved in step: Startup Fortune noted that ICP traded near $2.11 even as Internet Computer's cumulative count passed 300 billion transactions. Whether Internet Computer can overtake Solana on weekly real TPS will depend on whether the recent trend holds.

SourcesChainspect: Solana vs ICP comparison

The Crypto Times: Internet Computer (ICP) tops blockchain transactions chart

Hokanews: Solana, Internet Computer lead crypto networks in real TPS

Solana options traders had a busy week. Implied volatility on SOL contracts with 2 days left to expiry climbed by 18.3 points over the span of a single week.

What the options market is pricing Implied volatility, or IV, is the market’s guess at how wildly an asset will swing, backed out from what people are willing to pay for options.

Data from options analytics provider Derivasys shows how jumpy that pricing has been. On October 9, 2026, SOL’s one-week at-the-money IV dropped 8.58 points to 49.63%. A later October snapshot showed the same one-week measure rising 7.16 points to 54.04%.

Zooming out a bit, the 30-day at-the-money IV sat around 54.9% as of mid-October 2026. The front expiry, meanwhile, was pricing in IV near 66.6%.

When near-dated options cost more than longer-dated ones, the volatility curve is said to be inverted, which is options-speak for “the worry is immediate.”

Realized volatility is running hot too SOL’s realized volatility over the previous 30 days came in at 64.3% as of October 2026. Here, the actual swings over the past month have outpaced the 54.9% that 30-day options are implying. Only the front expiry, at roughly 66.6%, is pricing turbulence at or above what SOL has actually delivered.

A thinner market than Bitcoin or Ethereum SOL options open interest stood at approximately $117 million as of mid-October 2026. The research describes SOL’s open interest as relatively thin compared to larger players like Bitcoin and Ethereum.

The put/call ratio sits around 0.80. Max pain, the strike price at which the largest number of options would expire worthless, was hovering at $110.

The premium over Bitcoin Spreads between SOL and BTC one-week at-the-money IV have been observed in the range of 18 to 24 points. The Derivasys data also highlights that SOL’s short-dated IV is more reactive than both BTC and ETH.

Why a 2-day tenor matters A jump of 18.3 points at that tenor suggests demand for very short-term exposure picked up meaningfully. The research points to robust hedging demand alongside the potential for speculative activity as market sentiment shifts.

Short-dated options also feed back into spot markets. Dealers who sell those contracts often hedge by trading the underlying asset, which can amplify moves in either direction when expiry approaches.

What this means for traders With 30-day realized volatility at 64.3% and 30-day IV at 54.9%, traders selling longer-dated options are effectively betting SOL calms down.

Max pain at $110 gives expiry watchers a reference point showing where option sellers would collectively prefer SOL to settle when contracts roll off.

The put/call ratio near 0.80 shows calls still lead, yet the put side carries enough weight to signal that plenty of participants want a safety net in place.

The 18 to 24 point spread over Bitcoin is a measure of how much extra turbulence SOL carries compared to the market leader. According to the research, any significant price move could trigger amplified reactions in SOL’s options market, with knock-on effects for positioning across the broader crypto landscape.

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

Restaurant Brands International (TSX:QSR, NYSE:QSR) has received an improved sales outlook from Jefferies, which raised its forecast for Burger King's US same-store sales growth in the third quarter to 6.5% from 5%, as the fast-food chain's turnaround gains traction.

The broker said customer footfall had remained relatively steady after Burger King delivered 8.5% comparable sales growth in the second quarter, supporting expectations that momentum could extend into 2027.

Jefferies expects Burger King’s value-focused marketing, improvements to the Whopper and customer service, and recent product upgrades to continue attracting customers.

The bank’s new forecast exceeds the market consensus estimate of 5.7%, strengthening the outlook for Restaurant Brands International (TSX:QSR, NYSE:QSR), the owner of Burger King, Tim Hortons (TSX:THI) and Popeyes.

However, Jefferies maintained its 'hold rating' and $80 price target on Restaurant Brands International (TSX:QSR, NYSE:QSR), saying the improving operating performance had yet to translate into a sufficiently compelling case for further share price gains.

The broker expects Popeyes’ US same-store sales to fall 2% in the third quarter, compared with its previous forecast of a 1% decline, as difficult market conditions continue to weigh on the chicken restaurant chain.

Jefferies expects Popeyes’ sales performance to stabilise in the fourth quarter, with comparable sales remaining flat as management works to reposition the brand and restore growth.

At Tim Hortons (TSX:THI), the Canadian coffee and restaurant chain, the broker forecasts same-store sales growth of 1% in the third quarter, improving from broadly flat growth in the previous quarter.

Jefferies expects Tim Hortons (TSX:THI)’ Canadian performance to benefit from improved marketing, although it cautioned that visibility remained limited amid mixed conditions across the country’s quick-service restaurant market.

The broker forecasts earnings per share of $1.09 for the third quarter, marginally above the consensus estimate of $1.08, while earnings before interest, tax, depreciation and amortisation are expected to reach $834 million.

Jefferies also expects Restaurant Brands International (TSX:QSR, NYSE:QSR) to remain on track to deliver its target of 8% growth in adjusted operating income, supported by stronger Burger King sales, improving costs and share buybacks.

Net restaurant openings are forecast to reach 278 in the third quarter, slightly below the market estimate of 287, with growth expected to gradually accelerate towards the company’s longer-term target of 5% net restaurant growth in 2028.

Despite improving sales momentum and a strengthening franchise business, Jefferies said the scope for meaningful earnings upgrades remained limited, leaving the broker on the sidelines while the turnaround develops.

According to multiple Turkish media reports, early local time today, Turkey’s National Intelligence Organization (MİT) and Istanbul police launched a joint operation in Istanbul’s Beşiktaş district, arresting Richard Heart (real name Richard James Schueler), founder of HEX, PulseChain and PulseX, and his wife. The arrest was executed under an Interpol Red Notice issued by Finland at the end of 2024, on charges including aggravated tax fraud. During the operation, a large quantity of cash, dozens of luxury watches, firearms and ammunition, and electronic devices were seized; specific amounts have not been disclosed. Richard Heart is a controversial figure in the cryptocurrency space. In 2023, the U.S. Securities and Exchange Commission (SEC) sued him and his associated entities for conducting unregistered securities offerings, claiming over $1 billion in fundraising, though the case was later dismissed due to jurisdictional issues.

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.

3 hours ago

Hyperliquid HIP-3 Cumulative Revenue Reaches $75 Million

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.

3 hours ago

xAI releases Grok Voice 3.0, topping Speech-to-Speech benchmarks.

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.

3 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.

3 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%.

3 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.

3 hours ago

GE Vernova’s stock has slipped into a bear market this year, falling from its year-to-date high of $1,193 to $938. The retreat has erased part of the gains made earlier in the year, when the stock was one of Wall Street’s top performers. Attention now turns to the company’s upcoming earnings report, where investors will scrutinize revenue and backlog growth.

GEV stock has slumped more than 20% from its year-high as investors book profits after its strong rally. At its peak this year, the stock was up over 960% from its 2024 low. 

The ongoing retreat has also coincided with the sell-off in other industrial companies like Caterpillar and GE Aerospace. 

In addition to profit-taking, investors are concerned about the company’s valuation, which has soared in recent years. Seeking Alpha data shows that, despite the recent sell-off, the company has a forward non-GAAP price-to-earnings ratio of 66.19, higher than the sector median of 19. 

On a GAAP basis, the company has a forward PE ratio of 33, also higher than the sector median of 21. Most notably, these numbers are significantly higher than the S&P 500 Index’s average of 19.1. They are also higher than other faster-growing companies in the AI industry like Micron and Nvidia. As such, the ongoing pullback is a sign that the company is going through a valuation reset.

Despite the ongoing weakness in its stock, all signs are that GE Vernova’s business is firing on all cylinders as demand for its products soars. 

The most recent quarterly results showed that its backlog jumped to $176 billion in Q2’26 from $129 billion in the same period last year. The CEO expects that this backlog will jump to $200 billion early next year.

GE Vernova’s revenue rose 22% in the quarter to $11.1 billion, while adjusted EBITDA increased to $1.2 billion. Most of the company’s orders came from its power division, where orders jumped 134% to $16.7 billion. The electrification business is also thriving, with orders rising 66% to $6.3 billion.

Analysts expect the company’s business to continue rising. The upcoming results, which will be released on October 28, are expected to show that its revenue rose by 20.3% to $12 billion. A 20% increase in revenue is a big achievement for a company in the industrial sector. 

This view explains why analysts are bullish about its business. Susquehanna sees the stock rising to $1,270, while Guggenheim expects it to jump to $1,450. Other top analysts, including those from Evercore, Jefferies, and Bernstein, expect it to jump to $1,100 and above. 

GEV stock chart | Source: TradingView

The weekly chart shows that the GEV share price has jumped from a low of $114.68 in 2024 to a record high of $1,193 in July. This surge has not been in a straight line as the stock has had some major pullbacks. For example, it dropped from $444 in January 2025 to a low of $251 in April of that year. 

It also dropped from $673 in July to a low of $527 in November. Most recently, the stock has pulled back from $1,193 to the current $931. This pullback is part of the bullish flag pattern. 

Therefore, the stock will likely resume the upward trend, potentially to the all-time high of $1,193. A move above that level will point to more gains, potentially to the psychological level of $1,250.

IREN Today

$30.52 -4.28 (-12.30%)

As of 03:51 PM Eastern

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

$28.93▼

$76.87$81.13

IREN Limited NASDAQ: IREN drew market attention with its Q2 earnings release, prominently announcing a new multi-year deal with a frontier hyperscale AI lab. The news was compounded by an as-yet unconfirmed report that the customer may be Anthropic. Regardless, it is potentially game-changing news for the company, validating the shift from cryptocurrency mining to AI, and putting in place another long-term contract that improves revenue visibility.

The question is what it means for the stock’s price, and the implications could be substantial. Hyperscale deals with leading frontier labs that provide greater visibility into future operations, validating the AI buildout industry-wide, but, more importantly, this company’s cash flow and future profitability.

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Among the questions answered is who will pay for IREN's capacity, and how. Assuming the contract is with Anthropic, Anthropic’s revenue run rate topped $65 billion as of July, up from $47 billion in May, underpinned by enterprise demand. Reported projections suggest Anthropic could generate roughly $190 billion to $200 billion in annual revenue by 2028. The question it doesn’t answer is whether Anthropic can monetize the capacity and sustain the contract longer term, providing value to its and IREN’s investors over time.

IREN Aggressively Expands Its Data Center BusinessIREN is aggressively expanding its data center business, having decommissioned cryptocurrency capacity sooner than expected to shift it to AI. The impact on results was tangible, leading to wider-than-expected losses, but it accelerated the timeline to monetize the backlog.

As it stands, the company is targeting approximately 300MW of AI IT capacity by year-end and about 800MW by the end of 2027. Looking ahead, IREN has secured 5 GW of power across North America, Europe, and the Asia-Pacific regions, with additional AI infrastructure projects under construction and in development. Not all of that future capacity is covered by long-term contracts. Customer concentration risk remains, with most of the backlog tied to Microsoft NASDAQ: MSFT, but the portfolio is growing.

IREN’s announced AI cloud contracts exceed $13 billion in total value, underpinned by a $9.7 billion five-year contract with Microsoft. Microsoft booked 200MW of capacity over four installments, the first of which was delivered in August. It, along with other contracts with AI developers, brought contracted annualized run-rate revenue to $4 billion for planned 2026 capacity, compared with $1 billion in operating annualized revenue as of late August. Much of the associated GPU spending is covered by committed financing and customer prepayments.

IREN’s outlook is also less risky, to some extent, because of its project funding, which includes upfront payments and innovative financing that help limit the need for dilutive funding. Microsoft agreed to pay 20% upfront to finance GPU capacity, while newer contracts include customer prepayments covering approximately 45% to 55% of GPU costs, with additional financing provided by private creditors. The Microsoft deal includes debt and upfront payments that total about 96% of the build, while the newer contracts are even more favorable. In some cases, financing and prepayments exceed the associated GPU costs.

IREN Buys Growth, Expands Capacity in SpainIREN isn’t just building data centers; it's buying growth as it accelerates its AI infrastructure business. Recent additions include Spain’s Nostrum Group and Mirantis Inc., providing an entry into the European Union (EU) and shifting its business from infrastructure provider to full-stack AI factory original equipment manufacturer (OEM). Nostrum Group, notably, is the Spanish version of IREN, building eco-friendly data centers and power solutions, while Mirantis Inc. provides what it calls a “metal to models” platform that can automate data center operations from initialization to model training and deployment.

IREN Stock Forecast Today12-Month Stock Price Forecast:
$81.13
159.83% Upside

Moderate Buy
Based on 22 Analyst Ratings

Current Price$31.23High Forecast$100.00Average Forecast$81.13Low Forecast$40.00IREN Stock Forecast Details

And if there was ever any doubt about the seriousness of IREN’s build-out plans, investors need only look to the NVIDIA NASDAQ: NVDA partnership. Announced in May 2026, the deal aims to accelerate the deployment of up to 5 GW of NVIDIA-based capacity, with a focus on IREN’s 2 GW Sweetwater, Texas, facility. The partnership also includes a $3.4 billion contract for IREN to provide AI cloud capacity for NVIDIA’s own internal workloads.

The next catalyst is the upcoming earnings report, expected in early November. Analysts are hopeful, but a hurdle remains: they forecast a year-over-year revenue decline tied to the decommissioned cryptocurrency business. Investors should focus on details such as new capacity, updates on its timing, new contracts, and balance sheet health. The balance sheet boasts significant growth and ample liquidity, offset by rapidly increasing debt. The good news is that the business is on track to pay it back, but it will take time, and that is the risk for investors. The company is on track to ramp up capacity, but the big jumps won’t happen until next year and 2028, a long time to wait.

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

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Three Stocks Under $20 With Massive Upside PotentialSailPoint NASDAQ: SAIL used its Navigate conference briefing to outline product updates centered on securing both human and AI identities, including autonomous agents, runtime authorization controls, expanded cloud infrastructure support and a redesigned user interface.

Chandra Gnanasambandam, SailPoint’s executive vice president of product and chief technology officer, said the company views identity security as a combined “human plus AI” challenge rather than one requiring separate platforms. He said large enterprises may face tens of millions of agentic interactions per day as AI agents interact with large language models, APIs and data systems.

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Autonomous agent vision and runtime controls SailPoint Had a Week to Forget—Is This the Buying Window?Gnanasambandam introduced SailPoint’s vision for autonomous identity agents, grouped into red, blue and green categories. Red agents would identify potentially risky or unauthorized activity, such as an AI agent accessing information beyond its owner’s permissions. Blue agents would investigate and, if warranted, stop the activity. Green agents would focus on “peacetime” governance tasks, including automation of access-certification processes.

He said SailPoint has signed one of the world’s largest banks as a design partner for a green certification agent, with a targeted delivery timeframe of December or January.

Why SailPoint May Cruise Past Cybersecurity Rivals in 2025The company also said its platform can support least-privilege and zero-standing-privilege access models for both humans and AI. SailPoint described its role as a policy decision point that evaluates whether access should be permitted in real time, even after a user or agent has been authenticated by an identity provider such as Okta, Microsoft Entra or Ping.

Gnanasambandam said identity providers primarily handle authentication, while SailPoint’s platform is intended to provide fine-grained authorization based on identity context, access behavior, policy compliance and risk.

Entro integration and Agentic Fabric capabilities SailPoint said its Agentic Fabric and Entro, which SailPoint acquired roughly 90 days before the briefing, are expected to be fully integrated and generally available in November. The company also said that a majority of the capabilities discussed during the presentation are expected to be generally available by Nov. 1 or by the end of the year, with a smaller group planned for the first quarter of the following year.

Levent Besik, SailPoint’s chief product officer, demonstrated the Agentic Fabric, which the company said is designed to inventory AI agents, non-human identities and credentials across enterprise environments. The platform uses connectors, endpoint sensors, browser plugins and integrations with AI, SaaS, security information and event management, and data-security platforms, according to Besik.

In the demonstration, SailPoint showed how security administrators could review an AI agent’s owner, credentials, activity history, access graph and risk factors. Besik said the platform can identify issues including unsanctioned AI platforms, exposed credentials, access to production systems and anomalous behavior. Administrators can deactivate agents, rotate credentials or establish authorization policies from the platform, he said.

SailPoint also highlighted scheduled audit reports designed for frameworks including GDPR, HIPAA and the EU AI Act. Besik said the reports can be exported, scheduled and customized. The company plans to unify similar audit capabilities across its agentic and human-focused offerings.

Human identity updates Dan Martillotti, SailPoint’s vice president of product management, outlined additions to the company’s Human Fabric. These include posture management intended to show identity risk across human and non-human identities, along with recommended remediation actions.

The company said it has automated the creation of entitlement descriptions when applications are onboarded and added tools to assess privilege severity. SailPoint also introduced “effective privilege” views intended to reveal access that may be inherited indirectly through roles and groups.

For end users, SailPoint demonstrated an agentic access-request experience that can recommend entitlements based on a user’s role and needs. For privileged access, the platform supports just-in-time sessions in which access is provisioned when a user begins a task and removed when the session ends.

Martillotti also described certification automation that can recommend retaining or revoking access based on policy guardrails, such as whether privileged access has been used recently.

Customer demand shifts toward action and compliance In response to analyst questions, Gnanasambandam said customer conversations have shifted from discovery of agents and credentials toward acting on identified risks. He cited credential rotation, immediate removal of exposed access and runtime controls as key customer priorities.

He also said audit and compliance discussions have increased, particularly around accountability and fine-grained controls for AI systems. SailPoint said its Agentic Fabric can operate alongside customers’ existing IdentityIQ deployments and can connect to IdentityIQ to incorporate human identity context without requiring a migration.

About SailPoint (NASDAQ:SAIL)SailPoint, Inc NASDAQ: SAIL is an identity security company that helps organizations manage and protect digital identities and access to applications, data, and other technology resources. Its software is designed to help enterprises determine who should have access to specific resources, enforce access policies, and identify and address inappropriate or excessive access.

The company's offerings include its cloud-based identity security platform, which supports identity governance, access management, lifecycle automation, compliance, and analytics.

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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COVINGTON, Wash., Oct. 14, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) and Brookfield Residential today announced their joint venture master-planned community, LakePointe, is coming soon to Covington, Washington. Situated just 35 minutes from downtown Seattle in the desirable commuter corridor of King County, this exclusive community will offer contemporary single-family homes and townhomes by Toll Brothers in a scenic lakeside setting. Site work is underway at 25430 200th Lane SE in Covington, and sales are anticipated to begin in mid-2027.

The highly anticipated LakePointe master-planned community will bring contemporary single-family and townhome living to a picturesque lakeside location. Surrounded by parks, trails, and future walkable retail, Brookfield Residential has designed LakePointe as a dynamic, social neighborhood uniquely nestled in nature. The landmark opening of LakePointe Boulevard to Highway 18 later this year will connect residents to Seattle, Bellevue, SeaTac International Airport, Tacoma, and beyond, adding ease to commutes and making this community an ideal place to call home.

"We are thrilled to introduce LakePointe, a thoughtfully planned community that combines the beauty of lakeside living with the convenience of urban accessibility," said Todd Callahan, Regional President of Toll Brothers for the Pacific region. "With a wide variety of home designs, exceptional amenities, and an unbeatable location, LakePointe is set to redefine luxury living in south King County."

LakePointe will offer six distinctive collections of Toll Brothers homes, including 2- to 4-bedroom townhomes and 3- to 6-bedroom single-family homes, ranging from 1,204 to 2,878 square feet, all with 2-car garages. Walking paths will connect residents to community parks, green spaces, the future lake, retail, and dining, fostering a vibrant and connected lifestyle.

Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.

To learn more about LakePointe and to join the Toll Brothers interest list, call 844-845-5263 or visit TollBrothers.com/WA.

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol "TOL." Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.

Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine's 2026 list of the World's Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information, visit TollBrothers.com.

From Fortune, ©2026 Fortune Media IP Limited. All rights reserved. Used under license.

About Brookfield Residential

Brookfield Residential Properties ULC is a leading land developer and homebuilder in North America. The company entitles and develops land to create master-planned communities, builds and sells lots to third-party builders, and conducts its own homebuilding operations. Participation in select strategic real estate opportunities includes infill projects, mixed-use developments, and joint ventures. As the flagship North American residential property company of Brookfield Corporation (NYSE: BN; TSX: BN), Brookfield Residential is committed to excellence in residential development. Further information is available at BrookfieldResidential.com and BrookfieldResidentialLand.com.

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Meta Stocks Fall 3.7% as Analyst's $225 Billion Spending Forecast Raises Stakes

Guggenheim's 2027 capital-spending estimate is an analyst projection, separate from company guidance.

Summary

Meta’s advertising engine must support its AI investment while protecting profitability.

Meta Platforms, the social-media and AI-products group META, faces a bigger spending hurdle as enthusiasm for Muse meets the bill for building it. Shares traded at $734.605, down 3.66%, at approximately 12:41 p.m. ET on October 14. According to Barron's, Guggenheim analyst Michael Morris lifted his 2027 capital-spending estimate to $225 billion from $203 billion. That extra $22 billion sharpens the question: how much investment can Meta absorb before earnings feel more pressure? The estimate belongs to Morris; it is not company guidance.

Advertising is still doing the heavy lifting. Meta's second-quarter filing reported 14% growth in ad impressions and a 12% increase in average ad prices. Revenue climbed 28% to $60.80 billion, but operating income fell 8% to $18.78 billion. That puts the operating margin near 30.9%. More sales, less operating profit—a clear sign that rising expenses are swallowing the advertising gains. The company also projected $130 billion–$145 billion in 2026 capital expenditures to support AI and its core business.

The valuation picture shows shares 15.16% below the $865.88 GF Value™ estimate, suggesting a potential valuation cushion rather than a guaranteed bargain. Muse could broaden Meta's revenue base, but investors still need evidence that its financial contribution can justify the infrastructure bill. Watch ad pricing, impression growth and operating margin alongside the next spending update. Product buzz can lift expectations fast. Turning that buzz into durable profit is the harder job.

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.

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Elon Musk has never been one to think small, and his latest ambition might be one of his boldest ideas yet. Tesla Inc. NASDAQ: TSLA, the electric-vehicle giant increasingly being pitched as an AI and robotics company, is no longer content to design its own chips. It now wants to build and run the factory that makes them.

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The stock has been on a tear lately, up around 25% since the end of July to trade near $375, though it remains down about 19% in 2026 and, on the charts at least, still stuck in a downtrend. Investors clearly like the recent direction of travel, even if the longer-term picture looks far less settled.

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Musk first unveiled plans for Terafab, a massive AI chip manufacturing complex, in March. Earlier this month, he doubled down on the project, insisting that Tesla and SpaceX would build and operate the facility themselves rather than hand control to an established chipmaker like Taiwan Semiconductor Manufacturing Co. NYSE: TSM. With earnings due Oct. 21, the question is whether this is visionary vertical integration or an expensive distraction.

The Logic Behind Owning the FabStrip away the bravado, and there is real strategic logic here. By controlling chip design, fabrication, and packaging in-house, Tesla could tailor its silicon to its own needs, from Full Self-Driving (FSD) to its Cybertruck robotaxis and Optimus robots. The prize isn't merely cheaper chips, but chips optimized for Tesla’s software, power limits, and autonomous-driving workloads.

It fits the bigger story the bulls have told for a while: that Tesla is morphing from a carmaker into an AI-first business, with autonomy and robotics becoming the real profit engines. Owning the chip supply chain would hand it more control over that shift, and less dependence on outsiders.

A Very Different Kind of FactoryHere is the rub, however. Building cars, batteries, and robots is one thing; running an advanced semiconductor fab is entirely another, demanding expertise in process control, yield management, and clean-room manufacturing that Tesla doesn’t have today. Musk’s cheerful admission that he does not yet know how to make microchips is not a detail investors should wave away.

Then there’s the timeline. A fab has to be built, equipped, qualified, and painstakingly ramped before it reliably produces anything, a process more likely to be measured in years rather than quarters. Any slip would leave Tesla funding an enormous facility while still leaning on the very suppliers it set out to replace, the worst of both worlds. Musk has floated roles for partners to share the load, with Intel Corp NASDAQ: INTC named as a development partner and TSMC possibly subleasing part of the site.

All of this lands on top of an already steep capital-spending bill. While Tesla now expects to spend more than $25 billion this year, its largest ever, management has already conceded it may need additional funding to see the plans through. Add a chip-making factory, and that already heavy bill climbs even higher.

Priced for a Lot to Go RightThe bigger worry is what all this means for a stock that already prices in near-flawless execution. Even with the stock trending down since the start of the year, Tesla trades on a price-to-earnings ratio north of 300, which tells you just how much value the market is assigning to businesses that barely contribute to profit today.

Tesla, Inc. (TSLA) Price Chart for Wednesday, October, 14, 2026

That leaves precious little room for disappointment, and Wall Street itself is split on whether the current price is a bargain or a stretch. A delayed or underused chip plant would not just be a costly misstep in isolation; it could be read as proof that Tesla’s whole AI and robotics timetable is slipping. For a stock priced on promises, perception matters almost as much as the numbers.

What That Means for Next Week’s ReportThat is what makes the upcoming earnings report so important. Beyond the usual focus on deliveries and margins, investors will be hunting for signs that Terafab is a disciplined bet rather than an open-ended one, with clarity on how much capital it will consume and which partners are truly committed, plus evidence that robotaxi and FSD economics are improving with or without a fab attached.

For all the obvious risks, betting against Musk’s ambition has rarely paid off for long, given how many of his longest shots eventually came good. But chipmaking is among the hardest games in technology, and with the stock already priced as if future success is guaranteed, Tesla has seldom needed to reassure investors more than it does in its upcoming release.

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

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Citigroup Inc. (NYSE:C) on Tuesday posted better-than-expected third-quarter results.

Citigroup reported revenue, net of interest expense, of $23.85 billion, up 8% year over year and above the analyst estimate of $23.72 billion. Net income surged 40% to $5.25 billion. Earnings of $2.85 per share beat the consensus estimate of $2.67.

Citigroup’s fixed-income, currency and commodities trading business generated $4.4 billion in revenue, exceeding the $4.3 billion analyst estimate cited by Bloomberg. The business delivered its strongest third-quarter performance in at least a decade.

Citigroup shares fell 1.1% to trade at $123.20 on Wednesday.

These analysts made changes to their price targets on Citigroup following earnings announcement.

RBC Capital analyst Gerard Cassidy maintained the stock with an Outperform rating and lowered the price target from $150 to $135. TD Cowen analyst R. Scott Siefers maintained the stock with a Buy and lowered the price target from $150 to $148. Evercore ISI Group analyst Glenn Schorr maintained the stock with an In-Line rating and cut the price target from $140 to $135. Considering buying C stock? Here’s what analysts think:

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Key Takeaways Delta Air Lines slashes its 2026 EPS guidance to $5.10-$5.60 as rising fuel costs pressure profitability.DAL's Q3 fuel expenses surged 62% to $4.14B, while operating margin contracted 170 basis points to 9.4%.DAL's free cash flow fell to $463M while its valuation premium & downward earnings revisions raise concerns.
Delta Air Lines (DAL - Free Report) has lowered its full-year 2026 earnings guidance following disappointing third-quarter results released on Oct. 9, as surging fuel expenses and rising operating costs continue to pressure profitability. The airline now expects adjusted earnings of $5.10-$5.60 per share, down from its earlier projection of $6.50-$7.50.

In the third quarter of 2026, adjusted earnings of $1.72 per share missed the Zacks Consensus Estimate by 4.44%. Despite a 16% increase in adjusted revenues to $17.59 billion, escalating expenses weighed on margins. The combination of disappointing earnings and reduced guidance raises concerns about DAL's near-term prospects.

DAL's Share Price OutperformanceDAL's shares have gained 29% over the past year, outperforming the Zacks Transportation - Airline industry's 3.3% decline and the S&P 500's 18% growth. However, mounting cost pressures and weakening earnings expectations could challenge this momentum.

Image Source: Zacks Investment Research

Factors Weighing on DAL's Investment AppealSurging Fuel Costs Pressure Margins: Delta's adjusted fuel expenses surged 62% year over year to $4.14 billion in the third quarter, as average fuel prices increased 60% to $3.61 per gallon. Consequently, adjusted operating income declined 2% to $1.66 billion, while adjusted operating margin contracted 170 basis points to 9.4%. Non-fuel expenses also increased 8%, reflecting higher crew and revenue-related costs.

The challenging fuel environment poses risks across the airline industry. United Airlines (UAL - Free Report) and American Airlines (AAL - Free Report) also operate in a fuel-sensitive industry, where higher energy prices can constrain profitability. Like DAL, both UAL and AAL face the broader challenge of balancing revenue growth with escalating operating expenses. We expect high fuel costs to hurt the third-quarter results of both United Airlines (scheduled to be released on Oct. 20) and American Airlines (scheduled to be released on Oct. 22).

Weakening Cash Flow and Financial Obligations: Delta generated $463 million in free cash flow during the September quarter, down from $833 million a year earlier. Higher capital expenditures and increased operating costs constrained cash generation. Although adjusted net debt declined $2.24 billion year over year to $13.35 billion, substantial financial obligations continue to limit flexibility.

The company's plan to repay more than $2 billion of debt in 2026 supports balance-sheet improvement. However, persistent cost inflation and weaker free cash flow could constrain its ability to simultaneously fund expansion, reduce debt and reward shareholders.

Strong Demand Offers Limited Relief: Despite these challenges, Delta continues to benefit from healthy travel demand and premium offerings. Passenger revenues increased 15% year over year to $15.53 billion, while premium-ticket revenues climbed 18% to $6.82 billion. Loyalty-related revenues also grew, supported by its American Express partnership.

DAL's premium-focused strategy remains a competitive strength against United Airlines and American Airlines, which also compete for corporate and leisure travelers. However, strong demand alone may not offset rising operating costs, particularly when fuel expenses increase faster than revenues.

Delta expects approximately 20% revenue growth in the fourth quarter but anticipates adjusted operating margins of only 7-9%. Its projected fuel price of $4.25 per gallon suggests continued pressure on profitability.

DAL's Valuation and Earnings Revisions Signal CautionDAL currently trades at 11.41 X forward 12-month earnings, above the industry average of 10.23 X. Although its strong premium-travel franchise supports its valuation, the earnings outlook raises questions about whether this premium is justified.

Image Source: Zacks Investment Research

With profitability under pressure, DAL's valuation offers limited comfort. Industry competition involving United Airlines and American Airlines adds to the challenges, as airlines seek to protect margins while managing elevated expenses. Without stronger earnings visibility, investors may find it difficult to justify paying a premium for DAL.

Moreover, analysts have sharply lowered earnings expectations. The Zacks Consensus Estimate for 2026 earnings has declined 19.72% over the past 60 days to $5.25 per share. The 2027 consensus estimate has fallen 15.10% to $7.42 per share over the same period, indicating weakening confidence in the company's earnings trajectory.

Image Source: Zacks Investment Research

Should Investors Sell DAL Stock Now?Delta's reduced earnings guidance underscores the growing impact of elevated fuel costs and margin pressure despite healthy passenger demand. Weakening cash generation, substantial debt and negative earnings estimate revisions further cloud its investment outlook.

Although premium revenues and improving leverage remain encouraging, DAL's valuation premium and Zacks Rank #5 (Strong Sell) suggest limited near-term investment appeal. Given the mounting profitability challenges and downside risks, investors may consider avoiding fresh exposure or reducing their holdings in DAL stock until earnings visibility improves. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Goldman Sachs Group, Inc (NYSE:GS) on Tuesday reported upbeat earnings for the third quarter.

The company posted quarterly earnings of $17.01 per share which beat the analyst consensus estimate of $13.08 per share. The company reported quarterly sales of $18.679 billion which beat the analyst consensus estimate of $16.705 billion.

Goldman Sachs’ Board of Directors declared a quarterly dividend of $5 per common share on Oct. 12, 2026, payable on Dec. 30 to shareholders of record as of Dec. 2, 2026.

Goldman Sachs shares fell 2.2% to trade at $872.79 on Wednesday.

These analysts made changes to their price targets on Goldman Sachs following earnings announcement.

RBC Capital analyst Gerard Cassidy maintained the stock with a Sector Perform and lowered the price target from $1220 to $1010. Keefe, Bruyette & Woods analyst Christopher McGratty maintained the stock with a Market Perform and lowered the price target from $1130 to $1100. Considering buying GS stock? Here’s what analysts think:

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Shares of Intel (INTC -4.73%) are up about 180% over the past year, as of Oct. 12, reflecting growing demand for its chips for artificial intelligence (AI) workloads.

The stock is more expensive than it was a year ago, but the prospect of sustainable revenue growth from AI leaves room for further gains over the next several years. "AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging, and vast wafer foundry network," CEO Lip-Bu Tan stated in the 2026 second-quarter earnings report.

Here are three reasons the stock is a buy heading into 2027.

Image source: Intel.

1. Strong execution is producing momentum in financial results Intel has topped its own financial expectations for seven straight quarters. Beating guidance repeatedly shows the company is executing well against its goals and managing its factories and costs, which can support a higher stock price over time as investors gain confidence. Here are the key highlights from the Q2 earnings report that point to building momentum in the business:

Revenue rose 25% year over year to $16.1 billion -- the company's strongest growth in more than 15 years. Non-GAAP gross margin (the share of revenue left after production costs) reached 41.8%, more than 12 points higher than a year earlier. Adjusted earnings per share of $0.42 more than doubled the guidance of $0.20, and reversed a loss of $0.10 in the year-ago quarter. Higher revenue, better manufacturing yields (more working chips per wafer), and stronger average selling prices drove the strong results, with data-center and AI sales growing 59% to $6.3 billion. AI-related businesses made up roughly 70% of Intel's total revenue in the quarter.

CFO David Zinsner said the near-term goal was to get gross margins "comfortably into the 40s" every quarter -- implying the potential for more gains over its Q2 gross margin. Overall, the prospect of expanding margins is a positive for the stock heading into 2027.

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2. AI is driving more demand for Intel's processors than it can supply AI will need a massive number of central processing units (CPUs), as well as specialized accelerators and graphics processing units (GPUs). CPUs have proven more effective at handling orchestration, data movement, and storage around AI training and inference. The growing use of AI agents (software that performs tasks autonomously) will put more strain on existing compute capacity and is a long-term tailwind for Intel.

Intel faces growing competition in the CPU market from Advanced Micro Devices and Nvidia. But all these companies should continue to post robust growth, since demand for CPUs continues to outrun supply.

AI agents require a four to six times increase in CPU requirements, which is leading to higher core counts and more stable pricing. Beyond servers, Intel sees further opportunities in edge computing and physical AI systems such as industrial equipment and robotics.

These opportunities support analysts' expectations that Intel's revenue will increase by 21% in 2027, reaching $78 billion.

3. Manufacturing progress is opening additional growth opportunities Intel's foundry efforts (making chips for other companies) and advanced packaging technology, which connects multiple chips into more powerful processing systems, are showing progress. The 18A process is in high-volume production. Better yields and execution in ramping new technologies mean Intel can produce more chips at lower cost, which improves margins and can attract outside customers for Intel's foundry.

Management sees its advanced packaging business potentially reaching billions of dollars in revenue with attractive margins. Revenue is expected to ramp more meaningfully in the second half of 2027 and can also open the door to larger foundry deals.

Intel's foundry posted a Q2 operating loss of $2.1 billion, although the loss narrowed by $348 million over Q1. The foundry's persistent losses have been an overhang on the stock in recent years, but management is working to bring this business to breakeven by the end of 2027 or into 2028. Narrowing losses at Intel Foundry could support a higher stock price in 2027.

Intel's shares are not cheap, trading at a forward price-to-earnings ratio of 67 on 2026 earnings estimates. Even so, accelerating growth, expanding margins, and long-term opportunities in physical AI could still support excellent returns for investors in 2027 and beyond. The forward multiple drops to 49 on 2027 estimates, with analysts expecting 69% annualized earnings growth in the next several years.

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Merck CEO Rob Davis told CNBC on Wednesday that he expects the company's breakthrough cancer vaccine with Moderna to get faster to manufacture over time.

Shortening the current six-week timeline could potentially help the companies reach more patients.

"We are going to drive for improvement, but right now the focus really is, let's make sure we have the supply ready, we have the market ready to bring this important innovation to the market, and then we'll talk about how do we accelerate," he told CNBC in an exclusive interview. "But I do think over time you're going to see that timeline shortened."

The personalized cancer vaccine turnaround spans from sequencing a patient's tumor to delivering it to the hospital. Merck and Moderna's vaccine is designed to target the specific mutations in each individual patient's tumor rather than using a one-size-fits-all approach, which makes it complicated to produce.

The idea is to train the immune system to recognize and kill those unique cancer markers and then pair that response with Merck's blockbuster immunotherapy Keytruda, which aims to help the body attack the cancer more effectively.

Davis acknowledged that manufacturing the vaccine is a "complex system," but said Merck and Moderna have the process "down to a very tight science."

"I'm actually very confident that we're not going to have complexities in getting this to patients in a very timely fashion," he added. "We're doing it in our clinicals, and I only see improvement going forward."

His comments come after the two companies in August released positive initial data from a late-stage trial on the shot in combination with Keytruda in melanoma patients. Davis said the company is also examining the vaccine in trials across other tumors, including non-small cell lung cancer, types of bladder cancer and renal cell carcinoma.

"You like to talk that maybe you can start moving toward talking about a cure," he said. "We're not there yet, but we're moving in a direction with technology that's really unprecedented."

Merck's new R&D facilityDavis spoke to CNBC after Merck earlier Wednesday officially opened its new 120,000-square-foot research facility, which it has named Advance, in its West Point, Pennsylvania, campus. Pennsylvania Gov. Josh Shapiro joined Merck executives and other government officials for a ribbon-cutting ceremony to celebrate the launch of the facility, which features highly automated robotic systems and advanced digital AI capabilities.

Merck says the facility is designed to streamline the analysis of biological samples from the company's ongoing drug programs and improve its research and development.

The opening of the new facility comes as Merck prepares for the upcoming loss of exclusivity of Keytruda, which is one of the world's top-selling drugs and is widely viewed as the backbone of modern cancer treatment. Keytruda's core U.S. compound patent expires in December 2028, while secondary patents extend protection into 2029 and beyond. 

Merck has implemented a multi-layered strategy to turn the Keytruda transition into what it views as a manageable "hill" rather than a sharp revenue cliff. That includes accelerating internal research and also funneling $65 billion in external acquisitions and licensing agreements over the five years to build its pipeline of next-generation medicines. 

The pharmaceutical giant is also developing new forms of Keytruda and combination regimens that it can transition patients onto and protect the drug's revenue even after key patents expire before 2030. 

The Food and Drug Administration in September 2025 approved the subcutaneous form of Keytruda, which is considered a more convenient version because it is administered under the skin in minutes. The standard form of the drug is an intravenous infusion that takes around 30 minutes. 

But Merck is facing a legal battle over the newer version in some European markets, raising questions about the market size for the drug.

A Dutch court issued an injunction earlier this month blocking Merck from selling, stocking or manufacturing subcutaneous Keytruda across eight European countries: Belgium, Denmark, France, Ireland, Italy, Sweden, Switzerland and the Netherlands. That followed a patent infringement suit brought by the biotech company Halozyme Therapeutics over its own subcutaneous drug delivery platform.

Merck has said it strongly disagrees with the rulings and plans to appeal. Patients can still receive the original form of Keytruda in Europe while the patent dispute unfolds. 

Still, Halozyme has also sued Merck for patent infringement ​in ⁠the U.S., alleging the subcutaneous formulation of Keytruda infringes 15 patents that the biotech has filed since 2011. 

Meanwhile, Merck is focused on rolling out a slate of new drugs. That includes Winrevair, a treatment for a rare, life-threatening lung disease that was approved in 2024 and acquired a few years earlier through its $11.5 billion acquisition of Acceleron. 

Another closely watched launch is Merck's cholesterol-lowering pill Lipfendra, which was approved by the FDA last month.

Vir Biotechnology Inc. (NASDAQ:VIR) announced a major collaboration with Gilead Sciences Inc. (NASDAQ:GILD) to create three novel T-cell engagers (TCEs) aimed at treating solid tumors.

The agreement grants Gilead exclusive rights to develop and commercialize these new therapies, potentially revolutionizing treatments for cancers with significant unmet needs.

• Vir Biotechnology stock is trending lower. Why is VIR stock trading lower?

Leveraging Advanced TechnologiesVir Biotechnology will utilize its expertise in protein engineering and its proprietary dAIsY platform, which employs AI for the rapid optimization of TCEs.

Additionally, the company will implement its PRO-XTEN masking technology. These combined efforts aim to develop TCEs that exhibit potent anti-tumor activity alongside a broad therapeutic index.

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Financial Terms and MilestonesUnder the agreement’s terms, Vir is responsible for the discovery and optimization of the candidates. In return, the company will receive up to $135 million in upfront and near-term preclinical milestone payments.

This includes $65 million in cash and a $25 million equity investment by Gilead at a 30% premium.

Furthermore, Vir stands to gain up to $1.74 billion in subsequent development, regulatory, and commercial milestones.

The deal also includes tiered royalties on net sales, ranging from high single digits to low double digits.

In February, Vir Biotechnology collaborated with Astellas Pharma Inc. to advance VIR-5500, an investigational treatment for prostate cancer. Vir Biotechnology received $335 million in upfront and is expected to receive near-term milestone payments, including $240 million in cash and $75 million in equity investment at a 50% premium.

GILD/VIR Price Action: Gilead Sciences shares were up 2.67% at $151.87, and Vir Biotechnology shares were down 1.60% at $10.44 at the time of publication on Wednesday, according to Benzinga Pro data.

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Kraft Heinz Co (NASDAQ:KHC, XETRA:KHNZ) faces worsening US retail demand as it ramps up a $700 million investment programme, with Jefferies retaining a 'hold' rating and cutting its price target to $21.

The broker expects North American retail sales to decline sequentially in the third quarter as weaker consumption and the reversal of an inventory benefit weigh on performance.

Jefferies said tracked-channel volumes had deteriorated over the latest 12 weeks compared with the previous six months, leaving Kraft Heinz at the weaker end of its peer group.

Seven of the food group's 10 largest brands recorded year-on-year declines, while Oscar Mayer remained a significant drag, with retail sales falling by about 4% in the latest period.

The broker noted early signs of improvement after Oscar Mayer refreshed its deli packaging, which was about 80% available on shelves by early August, although broader demand remained under pressure.

Kraft Heinz's share performance improved in roughly half of its leading product categories, but year-on-year market share trends remained negative on average.

The deterioration comes as the company increases promotional spending, launches new products and adds resources under a $700 million reinvestment plan, with most of the spending expected to reach the market in the second half.

Jefferies said the returns from that investment would be a key factor in determining whether the turnaround succeeds, particularly as other food companies have reported limited consumer responses to promotional activity.

New products include Power Mac, Capri Sun Hydrate and Philadelphia Lactose Free, although the broker said it remained unclear whether these launches would generate additional consumption or simply shift demand between brands.

Rising freight and logistics costs also threaten margins as spending increases, although commodity deflation could provide some offset to inflationary pressures.

Jefferies lowered its earnings estimates slightly to reflect a slower recovery in North America, higher logistics inflation and foreign exchange effects.

The broker maintained its 'hold' rating and reduced its price target to $21, valuing the company at about 8.5 times its estimated 2027 earnings before interest, taxes, depreciation and amortisation.

Jefferies said the turnaround remained at an early stage, with weakening demand and unproven returns on investment limiting confidence in a sustained recovery.

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