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MIAMI--(BUSINESS WIRE)--Starboard today announced the debut of an expansive collection of immersive retail experiences onboard Royal Caribbean's Legend of the Seas.

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July 24, 2026 2:16 AM 1 min read

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:

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OCBC’s Sim Moh Siong and Christopher Wong note Gold has retreated back toward USD 4,040/4,050 after briefly trading above 4,160 as Brent surged past USD100 and the Dollar and US yields climbed. They say Gold’s tentative recoupling with geopolitical risk remains fragile, with the metal still trading mainly through the Oil and rates channel and facing two-way risks around nearby support and resistance.

Geopolitics outweighed by Oil and yields"Gold was unable to sustain its recent rebound, falling back toward 4040/50 levels after briefly trading above 4160 in the previous session."

"Gold fell back toward 4,040/50 levels as Brent broke above USD100 and both the USD and US yields moved higher, suggesting its tentative recoupling with geopolitical risk was not yet durable."

"Rather than benefiting from the renewed geopolitical risk, gold once again traded through the oil/rates channel."

"Losses were also broad-based across the precious metals complex, as silver, platinum and palladium fell. The reversal suggests the earlier signs of gold recoupling with geopolitical risk were not yet durable, with the metal remaining sensitive to further increases in oil, yields and rate expectations."

"Mild bullish momentum on daily chart intact but RSI fell. 2-way risks. Resistance at 4070 (21 DMA), 4167. Support at 4000, 3960 levels."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

In TRIUMPH-2, adults with obesity or overweight and type 2 diabetes, a population with increased difficulties losing weight, lost up to an average of 49.6 lbs (20.8%) at 80 weeks

In TRIUMPH-3, adults with severe obesity and established cardiovascular disease, with or without type 2 diabetes, lost up to an average of 55.8 lbs (22.6%) at 80 weeks

Lilly plans to submit a Biologics License Application (BLA) for retatrutide to FDA in Q1 2027

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY), the maker of Zepbound (tirzepatide) and Foundayo (orforglipron), today announced positive topline results from TRIUMPH-2 and TRIUMPH-3, two pivotal Phase 3 trials evaluating retatrutide, an investigational, first-in-class GIP, GLP-1, and glucagon triple hormone receptor agonist. In both studies, retatrutide met the primary endpoint, delivering substantial weight loss in adults with obesity and some of its most serious complications: type 2 diabetes and established cardiovascular disease.

"Across five positive Phase 3 studies, retatrutide has shown powerful efficacy, and we believe it could be an important future tool in the management of cardiometabolic health," said Kenneth Custer, Ph.D., executive vice president and president, Lilly Cardiometabolic Health. "With the positive results from TRIUMPH-2 and TRIUMPH-3, we now have the clinical data package to support global submissions for retatrutide as a potential treatment for obesity, knee osteoarthritis pain, and obstructive sleep apnea. We look forward to working with regulators as they evaluate this first-of-its-kind medicine."

In TRIUMPH-2, all three studied doses of retatrutide (4 mg, 9 mg, and 12 mg) delivered substantial weight loss and improved glycemic control at 80 weeks in adults with type 2 diabetes and obesity or overweight. Participants taking retatrutide 4 mg, 9 mg, and 12 mg lost an average of 29.8 lbs (12.7%), 45.4 lbs (19.1%), and 49.6 lbs (20.8%), respectively, alongside A1C reductions of up to an average of 1.6%.

TRIUMPH-2 Efficacy Estimand Results in Participants with Obesity and Type 2 Diabetes1

Primary Endpoint at 80 Weeks 

Retatrutide 4 mg

Retatrutide 9 mg

Retatrutide 12 mg

Placebo

Percent change in body weight from avg. baseline of 106.4 kg (234.6 lbs; BMI of 38.2 kg/m²)i

-12.7% (-13.5 kg; -29.8 lbs) 

-19.1% (-20.6 kg; -45.4 lbs) 

-20.8% (-22.5 kg; -49.6 lbs) 

-4.0% (-4.2 kg; -9.3 lbs)

Key Secondary Endpoint at 80 Weeks

Change in A1C from a baseline of 7.7%

-1.4‌%

-1.6‌%

-1.5‌%

-0.2‌%

iPercent body weight reduction with retatrutide 4 mg was a key secondary endpoint.

In TRIUMPH-3, both studied doses of retatrutide (9 mg and 12 mg) delivered substantial weight loss in adults with severe obesity and established cardiovascular disease, with or without type 2 diabetes. Participants lost up to an average of 55.8 lbs (22.6%) at 80 weeks.

In the study, major adverse cardiovascular events (MACE) occurred less frequently than anticipated in both retatrutide and placebo arms. In pre-specified analyses for time to first occurrence of MACE, there were 44 MACE-5 (all-cause death, heart attack, stroke, heart failure event, or coronary revascularization) events observed in participants randomized to retatrutide (pooled 9 mg and 12 mg) and 52 events observed in those randomized to placebo, resulting in a hazard ratio of 0.82 (95.0% CI: 0.55 to 1.22). There were 27 MACE-3 (cardiovascular death, heart attack, or stroke) events in participants randomized to retatrutide and 23 in those randomized to placebo, resulting in a hazard ratio of 1.12 (95.0% CI: 0.64 to 1.96).

In TRIUMPH-3, retatrutide meaningfully reduced certain cardiovascular risk factors, with the highest dose delivering average reductions of 37.0% in triglycerides, 16.5% in non-HDL cholesterol, 9.3 mmHg in systolic blood pressure, 7.5 in (19.0 cm) in waist circumference, and 51.2% in high-sensitivity C-reactive protein (hsCRP).

TRIUMPH-3 Efficacy Estimand Results in Participants with Severe Obesity and Established Cardiovascular Disease1

Primary Endpoint at 80 Weeks

Retatrutide 9 mg

Retatrutide 12 mg

Placebo

Percent change in body weight from avg. baseline of 111.4 kg (245.6 lbs; BMI of 40.4 kg/m²)

-21.6% (-23.9 kg; -52.7 lbs) 

-22.6% (-25.3 kg; -55.8 lbs) 

-3.2% (-3.5 kg; -7.7 lbs)

Additional Analysesi

In-Study

On-Treatment

Time to first occurrence of MACE-5

Hazard ratio = 0.82

95.0% CI: 0.55 to 1.22

Hazard ratio = 0.73

95.0% CI: 0.47 to 1.12

Time to first occurrence of MACE-3

Hazard ratio = 1.12

95.0% CI: 0.64 to 1.96

Hazard ratio = 0.92

95.0% CI: 0.51 to 1.65

iHazard ratio was estimated from Cox proportional hazards model comparing retatrutide (pooled 9 mg and 12 mg) vs. placebo; in-study analysis (pre-specified) includes events which occurred during the study treatment period regardless of adherence to retatrutide or placebo, while on-treatment analysis (not pre-specified) excludes events which occurred more than 35 days after discontinuing retatrutide or placebo.

In TRIUMPH-2, the most common adverse events with retatrutide (4 mg, 9 mg, 12 mg vs. placebo, respectively) were diarrhea (27.4%, 33.5%, 33.6% vs. 13.2%), nausea (13.7%, 20.8%, 28.0% vs. 8.0%), constipation (14.0%, 16.2%, 16.8% vs. 9.4%), decreased appetite (5.8%, 12.3%, 17.1% vs. 4.5%), and vomiting (5.5%, 10.2%, 15.7% vs. 4.2%). In TRIUMPH-3, the most common adverse events with retatrutide (9 mg, 12 mg vs. placebo, respectively) were diarrhea (30.1%, 24.4% vs. 8.7%), nausea (21.7%, 22.4% vs. 5.8%), constipation (18.0%, 15.7% vs. 7.1%), decreased appetite (13.5%, 14.5% vs. 3.0%), and hyperglycemia (3.9%, 3.1% vs. 13.4%). In TRIUMPH-2, the incidence of dysesthesia and urinary tract infections were 4.5%, 5.6%, 7.3% vs. 0.7% and 3.8%, 6.3%, 8.0% vs. 6.6% with retatrutide 4 mg, 9 mg, 12 mg vs. placebo, respectively. In TRIUMPH-3, the incidence of dysesthesia and urinary tract infections were 6.4%, 6.4% vs. 1.3% and 6.1%, 7.0% vs. 5.3% with retatrutide 9 mg, 12 mg vs. placebo, respectively. These events were generally mild to moderate, and the majority resolved during treatment. Discontinuation rates due to adverse events in TRIUMPH-2 were 3.8% (4 mg), 11.6% (9 mg), and 7.7% (12 mg) with retatrutide, compared with 4.9% for placebo. Discontinuation rates due to adverse events in TRIUMPH-3 were 9.8% (9 mg) and 13.5% (12 mg) with retatrutide, compared with 4.8% for placebo.

Detailed results from TRIUMPH-2 and TRIUMPH-3 will be presented at future medical meetings and published in peer-reviewed journals. Lilly is completing the comprehensive Chemistry, Manufacturing, and Controls (CMC) data package required for a Biologics License Application (BLA) and plans to subsequently submit retatrutide in Q1 2027 for U.S. approval.

About retatrutide
Retatrutide is an investigational, once-weekly, triple hormone receptor agonist. Retatrutide is a single molecule that activates the body's receptors for glucose-dependent insulinotropic polypeptide (GIP), glucagon-like peptide-1 (GLP-1), and glucagon. Lilly is studying retatrutide in several Phase 3 clinical trials to evaluate its potential efficacy and safety in obesity and overweight with at least one weight-related medical problem, type 2 diabetes, knee osteoarthritis pain, moderate-to-severe obstructive sleep apnea, chronic low back pain, cardiovascular and renal outcomes, and metabolic dysfunction-associated steatotic liver disease. Retatrutide is an investigational molecule that cannot be legally sold or marketed for human use.

About TRIUMPH-2, TRIUMPH-3, and the TRIUMPH clinical trial program
TRIUMPH-2 (NCT05929079) is a Phase 3, 80-week, randomized, double-blind, and placebo-controlled trial under a basket design investigating the efficacy and safety of retatrutide once weekly compared with placebo in participants with type 2 diabetes and obesity or overweight. The study randomized 1,152 participants in a 1:1:1:1 ratio to receive retatrutide 4 mg, 9 mg, 12 mg, or placebo. Participants randomized to retatrutide initiated treatment with 2 mg once weekly and increased the dose in a stepwise approach every four weeks until reaching the target dose of 4 mg (via steps at 2 mg and 4 mg), 9 mg (via steps at 2 mg, 4 mg, and 6 mg) or 12 mg (via steps at 2 mg, 4 mg, 6 mg, and 9 mg). TRIUMPH-2 included a post-treatment follow-up period of four weeks.

TRIUMPH-3 (NCT05882045) is a Phase 3, 80-week, randomized, double-blind, placebo-controlled trial investigating the efficacy and safety of retatrutide once weekly compared with placebo in participants with severe obesity (Class 2 or Class 3), defined as BMI ≥35 kg/m2, and established cardiovascular disease. The study randomized 1,949 participants in a 1:1:2 ratio to receive retatrutide 9 mg, 12 mg, or placebo. Participants randomized to retatrutide initiated treatment with 2 mg once weekly and increased the dose in a stepwise approach every four weeks until reaching the target dose of 9 mg (via steps at 2 mg, 4 mg, and 6 mg) or 12 mg (via steps at 2 mg, 4 mg, 6 mg, and 9 mg).

The initial TRIUMPH Phase 3 clinical development program is evaluating the safety and efficacy of retatrutide for the treatment of patients with obesity or overweight, moderate-to-severe obstructive sleep apnea and obesity, and knee osteoarthritis pain across four global registrational trials. The program, which began in 2023, enrolled more than 5,800 participants.

Endnotes:

The efficacy estimand represents efficacy had all randomized participants remained on study intervention (with possible dose interruptions and modifications) without initiating prohibited weight management treatments (and glycemic rescue therapy for glycemic endpoints only). FOUNDAYO INDICATION AND SAFETY SUMMARY WITH WARNINGS
Foundayo (fown-DAY-oh) is a prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off.

Foundayo should not be used with other GLP-1 receptor agonist medicines. It is not known if Foundayo is safe and effective for use in children. Warnings – Foundayo may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Foundayo if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Foundayo if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Foundayo if you have had a serious allergic reaction to orforglipron or any of the ingredients in Foundayo. Foundayo may cause serious side effects, including:

Inflammation of the pancreas (pancreatitis). Stop taking Foundayo and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes you may feel the pain from your abdomen to your back.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Foundayo. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Foundayo with medicines that can cause low blood sugar, such as an insulin or sulfonylurea. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness, or feeling jittery.

Serious allergic reactions. Stop using Foundayo and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Foundayo.

Gallbladder problems. Gallbladder problems have happened in some people who use Foundayo. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Foundayo may increase the chance of food getting into your lungs during surgery or other procedures. Tell your healthcare providers that you are taking Foundayo before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Foundayo include nausea, constipation, diarrhea, vomiting, indigestion, stomach (abdominal) pain, headache, swollen belly, feeling tired, belching, heartburn, gas, and hair loss. These are not all the possible side effects of Foundayo. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before taking Foundayo

Tell your healthcare provider about all the medicines you take. Foundayo may affect the way some medicines work, and some medicines may affect the way Foundayo works. Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Foundayo during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Eli Lilly and Company at 1-800-LillyRx (1-800-545-5979). If you take birth control pills by mouth, talk to your healthcare provider before you take Foundayo. Birth control pills may not work as well while taking Foundayo. Your healthcare provider may recommend another type of birth control for 30 days after starting Foundayo and for 30 days after each dose increase of Foundayo. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. Review these questions with your healthcare provider:

❑ Do you have other medical conditions, including problems with your pancreas or kidneys, or severe problems with your liver, severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Are you pregnant or plan to become pregnant? Foundayo may harm your unborn baby.
❑ Are you breastfeeding or plan to breastfeed? Breastfeeding is not recommended during treatment with Foundayo.
❑ Do you take any other prescriptions or over-the-counter medicines, vitamins, or herbal supplements?

How to take

Take Foundayo exactly as your healthcare provider tells you to. Use Foundayo with a reduced-calorie diet and increased physical activity. Take Foundayo by mouth 1 time each day, with or without food. Swallow tablets whole. Do not break, crush, or chew the tablet. If you miss a dose, take it as soon as possible. Do not take 2 doses of Foundayo in the same day. Do not take more than 1 tablet per day. If you miss taking Foundayo for 7 or more days in a row, call your healthcare provider to talk about how to restart your treatment. If you take too much Foundayo, call your healthcare provider or Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Foundayo is a prescription medicine available in 0.8 mg, 2.5 mg, 5.5 mg, 9 mg, 14.5 mg, or 17.2 mg oral tablets. For more information, call 1-800-545-5979 or go to foundayo.lilly.com. 

ZEPBOUND INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off.  moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

• Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC).
• Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2).
• Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound.

KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. You may feel the pain from your abdomen to your back. 

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep

sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch. 

Before using Zepbound

Your healthcare provider should show you how to use Zepbound before you use it for the first time.  Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider:

❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979). How to take

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) [or goto www.zepbound.lilly.com].

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you. 

ZP CON BS 25FEB2026
Zepbound®, its delivery device base and KwikPen® are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. 

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about retatrutide as a potential treatment for adults with type 2 diabetes and obesity or overweight and adults with severe obesity and established cardiovascular disease, and the timeline for future readouts, presentations and other milestones relating to retatrutide and its clinical trials and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there is no guarantee that planned or ongoing studies will be completed as planned, that future study results will be consistent with expectations or study results to date, that retatrutide will prove to be a safe and effective treatment for type 2 diabetes, obesity or other potential indications, that retatrutide will receive regulatory approval, or that Lilly will execute its strategy as expected. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Refer to:  Niki Biro; [email protected] (Media)
                 Michael Czapar; [email protected] (Investors)

SOURCE Eli Lilly and Company

WESTLAKE, Texas--(BUSINESS WIRE)--Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends.

Evropské futures kontrakty mírně posilují

Strategy (MSTR -6.38%) was a huge winner from 2024 through 2025 as it aggressively issued stock and debt to fund Bitcoin purchases. As Bitcoin's price continued to rise, Strategy's massive stockpile soared in value, allowing the company to easily raise more capital, creating a powerful cycle that amassed an enormous Bitcoin stockpile.

Things have changed, though. Bitcoin's price has fallen nearly halfway from its peak last year, and Strategy hasn't been buying the dip lately. Strategy's latest 8-K filing shows that it hasn't purchased any Bitcoin for four consecutive weeks. Instead, it is selling stock to raise funds, increasing its cash reserves to $3.2 billion.

Should investors be concerned about buying Strategy stock amid the company's sudden pivot? Here's what you need to know.

Image source: The Motley Fool.

Fortifying the balance sheet isn't a bad thing Bitcoin is infamously volatile, so a steep decline was probably only a matter of time. It's one thing for an individual investor to buy into a dip, but Strategy is an enormous company with billions of dollars of assets. Opportunistic buying would be nice, but Strategy is focusing on strengthening its balance sheet and preparing for a scenario where Bitcoin continues to decline.

Strategy has 843,775 BTC at an average cost of $75,476 per token. That means that the company is currently sitting on paper losses. It has cash obligations in the form of interest payments on its debt and dividends paid out to preferred shares. Nobody can predict prices, so there's no telling how much lower Bitcoin might go or when it rebounds, or if it ever does.

Holding more cash provides a safety buffer from nightmare situations, such as having to sell at a loss to meet its obligations.

Today's Change

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Current Price

$

93.63

But it does expose a flaw in Strategy's business model Strategy's recent pause in buying Bitcoin makes sense, but it raises some concerns. As a Bitcoin treasury, Strategy could maximize value for shareholders by accumulating Bitcoin at the lowest possible cost basis. If Strategy's playbook of raising money and buying Bitcoin only works when prices go up, that's a potential red flag.

In that case, it's fair to wonder what value Strategy's current business model can generate, other than functioning as a leveraged bet on rising Bitcoin prices. Remember, Strategy primarily issues debt and stock to fund BTC purchases. Issuing stock dilutes existing shareholders, and doesn't work nearly as well at lower share prices because it takes more shares and dilution to raise the same amount of capital.

Strategy is smart to fortify its balance sheet, but a prolonged decline in Bitcoin is still a massive threat to the business. At the end of the day, investors might be better off owning Bitcoin themselves or investing in a spot Bitcoin ETF.

Injective (INJ) remains in a recovery phase despite a mild daily decline, with technical indicators signaling renewed buying interest. The INJ token now benefits from improved accessibility after its integration with Coinbase, boosting exposure as traders monitor key resistance levels.

Technical outlook and key price levelsINJ is currently trading at $5.16, accompanied by a 24-hour trading volume of $62.96 million and a market capitalization of $513.67 million. Although the token posted a 2.08% drop in value over the past 24 hours, its price structure suggests the possibility of a near-term bullish reversal.

Abundance, a crypto analyst, observed that INJ has rebounded from a recent bottom at $4.45 and is forming a series of higher highs and higher lows on the daily chart. This pattern, combined with the token’s movement above a rising moving average, reinforces market optimism. Abundance highlighted the $5.05–$5.10 range as critical short-term support, reflecting growing buyer confidence.

The recent upward move stalled at the $5.30–$5.40 range due to increased selling pressure. Nevertheless, subdued candle bodies suggest consolidation rather than a significant reversal. If INJ remains above $5.05, analysts expect another attempt to challenge the next supply zone near $5.84, which now stands as the principal resistance.

Holding above the $5.05 line could encourage another test of the $5.84 supply zone, while a decisive break above $5.84 may set the stage for further gains toward $6.50. Conversely, a decline below $5.05 could lead to a retreat to support levels at $4.85, $4.60, and $4.45.

Price LevelRole$5.05–$5.10Immediate support$5.30–$5.40Short-term resistance$5.84Major resistance$6.50Key resistance/target$4.85/$4.60/$4.45Support levels on breakdownCoinbase integration and ecosystem expansionAccording to Injective, native INJ is now officially available on Coinbase. This integration gives Coinbase users the ability to deposit, withdraw, and trade INJ directly, streamlining participation in the Injective ecosystem. As the largest US-based cryptocurrency exchange by trading volume, Coinbase’s support is expected to boost awareness and liquidity for the INJ token.

Injective is a layer-1 blockchain focused on building decentralized finance (DeFi) applications, enabling cross-chain trading and robust interoperability between networks. The protocol allows developers to create exchanges, derivatives, and other financial products with strong performance and minimal fees.

Mini dictionary: Injective is a decentralized blockchain protocol designed for finance, providing a platform for building dApps focused on trading, derivatives, lending, and more. It is optimized for cross-chain interoperability and low fees, attracting DeFi projects that require customizable modules for financial services.

The partnership with Coinbase simplifies movement of assets into the Injective protocol and is anticipated to spark increased involvement in the token ecosystem. As more exchanges introduce direct support for native INJ, the project expects to benefit from expanded liquidity and broader participation.

Native INJ is now live on Coinbase, and users can seamlessly transfer the asset between Coinbase and the Injective ecosystem through direct deposits and withdrawals, giving traders improved accessibility and flexibility.

Market context and outlookDespite the market optimism and fresh exchange listing, INJ continues to face downward pressure, reflecting broader weakness in the cryptocurrency market. Bitcoin (BTC) has also started to trend lower, which has contributed to recent soft performance in INJ and similar tokens.

Analysts have issued positive technical outlooks based on Injective’s recovery from local lows, but emphasize that market conditions remain volatile. Price movements may continue to mirror trends in leading digital assets until INJ establishes a decisive move above major resistance levels.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

SLB N.V. (NYSE:SLB) will release its second quarter earnings report before the opening bell on Friday, July 24.

Analysts expect the Houston, Texas-based company to report quarterly earnings of 52 cents per share, down from 74 cents per share in the year-ago period. The consensus estimate for SLB quarterly revenue is $8.68 billion. It reported $8.55 billion last year, according to Benzinga Pro.

On July 14, SLB announced an agreement with Liberty Energy Inc. (NYSE:LBRT) to form a strategic alliance for data center infrastructure and power.

SLB shares fell 0.9% to close at $47.22 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying SLB stock? Here’s what analysts think:

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the second quarter of 2026.

Second quarter 2026 net revenue1 was $1.5 billion, an increase of 15% on both a reported and adjusted2 basis over the second quarter of 2025. Solutions revenue3 grew 17% on both a reported and adjusted basis.
Annualized Recurring Revenue (ARR)3,4 of $3.3 billion increased 11% on a reported basis over the second quarter of 2025, or 12% on an organic basis2. Annualized SaaS revenue increased 12%, or 15% on an organic basis, and represented 38% of ARR.Financial Technology revenue was $539 million, an increase of 16% over the second quarter of 2025, or 15% on an organic basis.Index revenue of $271 million grew 38% or 35% on an adjusted basis over the second quarter of 2025, with $109 billion of net inflows over the trailing twelve months, including $51 billion in the second quarter of 2026.GAAP diluted earnings per share in the second quarter of 2026 was $0.89, an increase of 14% over the second quarter of 2025. Non-GAAP5 diluted earnings per share in the second quarter of 2026 was $1.07, an increase of 25% on both a reported and adjusted basis over the second quarter of 2025.In the second quarter of 2026, the company returned $174 million to shareholders through dividends and $356 million through repurchases of common stock. The company also net repaid $162 million of debt in the quarter. Second Quarter 2026 Highlights

(US$ millions, except per share)2Q26YoY change %Organic2
YoY change %Adjusted2
YoY change %Solutions revenue$1,16017%17%17%Market Services net revenue$34011%11%11%Net revenue$1,50015%16%15%GAAP operating income$71225%  Non-GAAP operating income$85919%20%19%ARR$3,25811%12%12%GAAP diluted EPS$0.8914%  Non-GAAP diluted EPS$1.0725%26%25%
Adena Friedman, Chair and CEO said, “Nasdaq delivered an outstanding second quarter, defined by new records and milestones. We delivered double-digit growth across all three divisions, surpassed $1 trillion in Index ETP AUM, and listed SpaceX, the largest IPO in exchange history.

As the forces reshaping global finance accelerate, from AI and market modernization to the increasingly complex regulatory and risk environment, Nasdaq's role as our clients' trusted transformation partner positions us for sustained leadership. We are confident in our ability to capture the opportunity ahead and deliver durable, long-term value for our clients and shareholders.”

Sarah Youngwood, Executive Vice President and CFO said, “Nasdaq's second quarter results mark another quarter of excellent Solutions revenue growth, expanding operating margins, strong EPS growth, and robust cash flow generation.

Nasdaq’s durable business model and consistent execution support our disciplined capital allocation strategy that returns meaningful capital to shareholders through both dividends and share repurchases while investing in innovations that will sustain our long-term growth trajectory.”

FINANCIAL REVIEW

Second quarter 2026 net revenue was $1.5 billion, reflecting 15% growth on both a reported and adjusted basis versus the prior year period.Solutions revenue was $1.2 billion in the second quarter of 2026, up 17% on both a reported and adjusted basis versus the prior year period, reflecting strong growth across Capital Access Platforms and Financial Technology. Capital Access Platforms revenue growth was 19% year-over-year on a reported basis, or 18% on an adjusted basis. Financial Technology revenue growth was 16% year-over-year, or 15% on an organic basis.ARR was $3.3 billion as of the second quarter of 2026, growing 11% year-over-year on a reported basis, or 12% year-over-year on an organic basis. Financial Technology ARR growth was 16% on both a reported and organic basis, and Capital Access Platforms ARR growth was 8% on both a reported and organic basis. Market Services net revenue was $340 million in the second quarter of 2026, up 11% on both a reported and organic basis versus the prior year period.Second quarter 2026 GAAP operating expenses were $788 million, an increase of 7% versus the prior year quarter and non-GAAP operating expenses were $641 million, up 10% on both a reported and organic basis versus the prior year quarter. The increases were primarily driven by higher compensation and benefits costs from our strong revenue execution, increased marketing and advertising costs due to a strengthening IPO environment, and increased investments in technology to drive long-term growth. On a GAAP basis, the increase was partially offset by lower merger and strategic initiatives expense.Cash flow from operations was $711 million in the second quarter, enabling the return of capital through Nasdaq’s efficient capital allocation framework. In the second quarter of 2026, the company returned $174 million to shareholders through dividends and $356 million through repurchases of common stock. As of June 30, 2026, there was $2.5 billion remaining under the board authorized share repurchase program. 2026 EXPENSE AND TAX GUIDANCE UPDATE6

The company is updating its 2026 non-GAAP operating expense guidance to a range of $2.530 billion to $2.570 billion. The company is maintaining its 2026 non-GAAP tax rate guidance in the range of 22.5% to 24.5%. STRATEGIC AND BUSINESS UPDATES

Financial Technology delivered double-digit revenue growth in each subdivision for the second consecutive quarter as the One Nasdaq strategy continues to unlock broad-based growth. In the second quarter, FinTech revenue increased 16% compared to the prior year period, or 15% on an organic basis, with 16% organic ARR growth. FinTech signed 58 new clients, 7 cross-sells, and 107 upsells in the quarter, with cross-sells remaining over 15% of the sales pipeline. Financial Crime Management Technology maintained strong momentum across both SMBs and enterprise clients while advancing AI-driven innovation in financial crime detection. During the quarter, Nasdaq Verafin signed 47 new small-and-medium bank (SMB) clients and 6 enterprise deals, including 2 cross-sells. Including signings early in the third quarter, Verafin has completed 11 enterprise signings year-to-date, surpassing the total signed in all of 2025. Nasdaq Verafin’s Agentic Workforce continued to gain traction, with 750 clients now leveraging the platform. The business introduced the next two agentic workers, the Agentic AML Analyst and the Agentic Fraud Analyst, while continuing to expand its innovation pipeline. Nasdaq Verafin enhanced the value of its gold-standard consortium data, surpassing $13 trillion in combined assets across more than 2,800 financial institutions.Regulatory Technology delivered strong performance across Surveillance and AxiomSL, driven by accelerating demand for Always-On infrastructure and regulatory modernization. The subdivision signed 9 new clients, including 2 cross-sells, and 63 upsells in the second quarter. Surveillance added 9 new clients, including 2 cross-sells, and 39 upsells with wins across geographies and client segments, including a new regulator win in Africa, and an upsell with a global broker-dealer. Early in the third quarter, Surveillance signed a notable first win for its AI-powered Calibration Copilot with a Tier 1 client. AxiomSL signed 24 upsells in the quarter with several client expansions that demonstrate the breadth of demand for AxiomSL's regulatory solutions, including with a domestic systemically important Australian bank and with a U.S. bank navigating heightened regulatory requirements following an acquisition.Capital Markets Technology delivered quarterly organic revenue growth of 14% and strong 17% organic ARR growth, reflecting the growing scale and reach of its global platform. The subdivision signed 7 new clients, including 3 cross-sells, and 42 upsells in the second quarter. Trade Management Services benefitted from strong demand for data center services and pricing. Calypso signed 3 new clients, including 1 cross-sell, and 31 upsells and is now available in more than 70 countries. Calypso expanded its global presence by signing a deal with the Georgian Financial Markets Treasury Association (GFTMA) to modernize the country’s treasury and financial markets infrastructure. The GFTMA deal includes a group of 5 of the country’s largest banks, which will adopt Calypso under a shared common infrastructure model. Market Technology continued to drive market modernization with the next-generation Eqlipse platform, signing 2 new digital marketplaces and 2 new clients on the Intelligence Platform. Index ETP assets under management (AUM) exceeded $1 trillion for the first time and achieved new net inflows records. Net inflows reached new all-time highs with $51 billion in the second quarter and $109 billion over the last twelve months. ETP AUM surpassed $1 trillion for the first time, with end-of-period ETP AUM of $1.114 trillion and average ETP AUM of $1.014 trillion. Nasdaq launched 34 new Index products in the second quarter, including 17 international products and 11 products in the institutional annuity space. Nasdaq expanded investor access to the Nasdaq-100 with the recent launch of BlackRock’s IQQ and State Street’s QNDX ETFs in the U.S.Listings set a quarterly record for total proceeds raised, headlined by the listing of SpaceX, the largest IPO in exchange history with an $86 billion raise. Nasdaq welcomed 7 of the top 10 largest operating company IPOs listed in the quarter, including Cerebras, the largest semiconductor IPO of all time, Quantinuum, the largest pure-play quantum IPO of all time, and Parabilis Medicines, the largest biotechnology IPO of all time. Nasdaq achieved a 74% win rate7 of new operating company listings. The momentum carried into the third quarter with the listing of SK hynix, the largest American Depositary Receipt (ADR) listing in U.S. capital markets history, underscoring the continued strength of the franchise.Market Services delivered records across quarterly net revenues and U.S. equity options volumes, supported by record industry volumes. In the second quarter, the business successfully facilitated the execution and trading of the SpaceX IPO. Nasdaq’s Closing Cross achieved new records across two landmark market events: during the Russell reconstitution, it executed 4.6 billion shares in 1.6 seconds representing a record $334 billion in notional value, and during the June Triple Witch, it executed a record $296 billion in notional value. Product innovation continued to drive incremental growth, with Index options revenue more than doubling year-over-year for the fourth consecutive quarter. Nasdaq received SEC approval to list event options tied to the Nasdaq-100 with an expected launch in the fourth quarter.Nasdaq advanced Always-On markets as Calypso supported proof of concept tokenized collateral trades on the Canton Network. Calypso, a leading platform managing the entire trade lifecycle, is powering the transition to hybrid tokenized and fiat infrastructure. Early in the third quarter, two of the world’s leading asset managers successfully completed tokenized collateral trades on the Canton Network, transmitting tokenized money market funds through Calypso. This milestone marks a significant step in the shift towards integrating tokenized and fiat infrastructure and reflects Nasdaq’s unique position as the trusted technology for next-generation markets.Nasdaq continued to optimize its portfolio early in the third quarter, entering into agreements to sell Nasdaq Fund Secondaries to Nasdaq Private Market and to acquire Dasseti. After the close of the Nasdaq Fund Secondaries transaction, Nasdaq will continue to hold an ownership stake in and remain a strategic partner of Nasdaq Private Market. Dasseti provides an AI-powered due diligence platform for institutional asset managers and allocators across public and private markets and will be integrated into eVestment’s leading institutional intelligence platform. Both transactions remain subject to customary closing conditions. ____________
1 Represents revenue less transaction-based expenses.
2 Organic change is calculated by removing the impacts of changes in foreign exchange rates, and acquisitions and divestitures during one-year period post transaction.   Adjusted period over period change reflects the organic change, excluding the impact of a one-time revenue benefit in the second quarter of 2026 in our Index business due to a contract modification.
3 Solutions revenue and Annualized Recurring Revenue (ARR) constitutes revenue and ARR from our Capital Access Platforms and Financial Technology segments as well as revenue and ARR from our Solovis business which was sold in October 2025. Solovis revenues and ARR were previously included in our Capital Access Platforms segment, and have been reclassified into “Other” for all prior periods presented.
4 ARR for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature or where the contract value fluctuates based on defined metrics. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ACV Bookings for our Financial Technology segment excluding Financial Crime Management Technology refers to the maximum annualized committed contract value at the time of signature, excluding one-time fees and not accounting for initial discounts. For Financial Crime Management Technology, ACV bookings is calculated by averaging the total contract value over the contract term, including fixed increases. ARR and ACV are supplemental metrics to help evaluate the performance of the business. These measures are not a replacement for, and should be viewed independently of, U.S. GAAP revenue and deferred revenue as they are performance metrics, and are not intended to be combined with any of these items. ARR and ACV are not a forecast, and the active contracts at the end of a reporting period used in calculating these measures may or may not be extended or renewed by our customers. There is no U.S. GAAP measure comparable to ARR or ACV. As these metrics do not have any standardized definition they may not be comparable to similarly titled measures presented by other companies and should be viewed independently of revenue and deferred revenue and are not intended to be combined with or to replace either of those items.
5 Refer to our reconciliations of U.S. GAAP to non-GAAP metrics and organic and adjusted impacts, included in the attached schedules.
6 U.S. GAAP operating expense and tax rate guidance are not provided due to the inherent difficulty in quantifying certain amounts due to a variety of factors including the unpredictability in the movement in foreign currency rates, as well as future charges or reversals outside of the normal course of business.
7 Listings win rate includes eligible U.S. operating companies, direct listings, and SPAC business combinations.

ABOUT NASDAQ

Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

NON-GAAP INFORMATION

In addition to disclosing results determined in accordance with U.S. GAAP, Nasdaq also discloses certain non-GAAP results of operations, including, but not limited to, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP operating income, and non-GAAP operating expenses, that include certain adjustments or exclude certain charges and gains that are described in the reconciliation tables of U.S. GAAP to non-GAAP information provided at the end of this release. Management uses this non-GAAP information internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. We believe our presentation of these measures provides investors with greater transparency and supplemental data relating to our financial condition and results of operations. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparisons of results as the items described below in the reconciliation tables do not reflect ongoing operating performance.

These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different from non-GAAP measures used by other companies. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces their usefulness as a comparative measure. Investors should not rely on any single financial measure when evaluating our business. This information should be considered as supplemental in nature and is not meant as a substitute for our operating results in accordance with U.S. GAAP. We recommend investors review the U.S. GAAP financial measures included in this earnings release. When viewed in conjunction with our U.S. GAAP results and the accompanying reconciliations, we believe these non-GAAP measures provide greater transparency and a more complete understanding of factors affecting our business than U.S. GAAP measures alone.

We understand that analysts and investors regularly rely on non-GAAP financial measures, such as those noted above, to assess operating performance. We use these measures because they highlight trends more clearly in our business that may not otherwise be apparent when relying solely on U.S. GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our ongoing operating performance.

Foreign exchange impact: In countries with currencies other than the U.S. dollar, revenue and expenses are translated using monthly average exchange rates. Certain discussions in this release isolate the impact of year-over-year foreign currency fluctuations to better measure the comparability of operating results between periods. Operating results excluding the impact of foreign currency fluctuations are calculated by translating the current period’s results by the prior period’s exchange rates.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, dividend program, trading volumes, products and services, ability to transition to new business models, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, de-leveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, geopolitical instability, government and industry regulation, interest rate risk, and U.S. and global competition. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

WEBSITE DISCLOSURE

Nasdaq intends to use its website, ir.nasdaq.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.

Media Relations Contact:
David Lurie
+1.914.538.0533
[email protected]

Investor Relations Contact:
Ato Garrett
+1.212.401.8737
[email protected]

-NDAQF-

Nasdaq, Inc.Condensed Consolidated Statements of Income(in millions, except per share amounts)(unaudited)       Three Months Ended Six Months Ended June 30, June 30, June 30, June 30,  2026   2025   2026   2025          Revenues:       Capital Access Platforms$621  $520  $1,186  $1,028 Financial Technology 539   464   1,057   896 Market Services 1,372   1,101   2,419   2,240 Other Revenues —   16   8   32  Total revenues 2,532   2,101   4,670   4,196 Transaction-based expenses:       Transaction rebates (712)  (640)  (1,436)  (1,224)Brokerage, clearance and exchange fees (320)  (155)  (326)  (429)Revenues less transaction-based expenses 1,500   1,306   2,908   2,543         Operating Expenses:       Compensation and benefits 383   352   739   681 Professional and contract services 42   39   82   75 Technology and communication infrastructure 88   79   171   156 Occupancy 35   30   68   58 General, administrative and other 23   23   52   29 Marketing and advertising 24   14   44   28 Depreciation and amortization 165   158   331   313 Regulatory 9   14   19   29 Merger and strategic initiatives 5   20   9   44 Restructuring charges 14   9   24   15  Total operating expenses 788   738   1,539   1,428 Operating income 712   568   1,369   1,115 Interest income 8   12   13   24 Interest expense (86)  (95)  (172)  (192)Net gain on divestitures —   39   89   39 Other income (losses) (2)  1   (15)  — Net income from unconsolidated investees 21   23   47   50 Income before income taxes 653   548   1,331   1,036 Income tax provision 146   96   305   190 Net income$507  $452  $1,026  $846 Net loss attributable to noncontrolling interests —   —   —   1 Net income attributable to Nasdaq$507  $452  $1,026  $847         Per share information:       Basic earnings per share$0.90  $0.79  $1.81  $1.47 Diluted earnings per share$0.89  $0.78  $1.80  $1.46 Cash dividends declared per common share$0.31  $0.27  $0.58  $0.51         Weighted-average common shares outstanding       for earnings per share:       Basic 564.2   574.1   565.5   574.6 Diluted 567.8   579.0   569.7   579.5  Nasdaq, Inc.Revenue Detail(in millions)(unaudited)       Three Months Ended Six Months Ended June 30, June 30, June 30, June 30,  2026   2025   2026   2025         CAPITAL ACCESS PLATFORMS       Data and Listing Services$217  $198  $431  $391 Index 271   196   491   388 Workflow and Insights 133   126   264   249 Total Capital Access Platforms revenues 621   520   1,186   1,028         FINANCIAL TECHNOLOGY       Financial Crime Management Technology 98   81   191   157 Regulatory Technology 120   104   238   206 Capital Markets Technology 321   279   628   533 Total Financial Technology revenues 539   464   1,057   896         MARKET SERVICES       Market Services 1,372   1,101   2,419   2,240 Transaction-based expenses:       Transaction rebates (712)  (640)  (1,436)  (1,224)Brokerage, clearance and exchange fees (320)  (155)  (326)  (429)Total Market Services revenues, net 340   306   657   587         OTHER REVENUES —   16   8   32         REVENUES LESS TRANSACTION-BASED EXPENSES$1,500  $1,306  $2,908  $2,543  Nasdaq, Inc.Condensed Consolidated Balance Sheets(in millions)       June 30, December 31,   2026   2025 Assets (unaudited)  Current assets:    Cash and cash equivalents $520  $604 Restricted cash and cash equivalents  26   210 Default funds and margin deposits  2,323   5,842 Financial investments  198   28 Receivables, net  1,182   943 Other current assets  284   376 Total current assets  4,533   8,003 Property and equipment, net  767   728 Goodwill  14,245   14,371 Intangible assets, net  6,223   6,511 Operating lease assets  481   447 Other non-current assets  1,092   993 Total assets $27,341  $31,053      Liabilities    Current liabilities:    Accounts payable and accrued expenses $252  $280 Section 31 fees payable to SEC  313   — Accrued personnel costs  243   364 Deferred revenue  931   785 Other current liabilities  174   259 Default funds and margin deposits  2,323   5,842 Short-term debt  269   431 Total current liabilities  4,505   7,961 Long-term debt  8,492   8,573 Deferred tax liabilities, net  1,616   1,584 Operating lease liabilities  482   462 Other non-current liabilities  253   241 Total liabilities  15,348   18,821      Commitments and contingencies    Equity    Nasdaq stockholders' equity:    Common stock  6   6 Additional paid-in capital  4,353   5,122 Common stock in treasury, at cost  (784)  (716)Accumulated other comprehensive loss  (1,874)  (1,773)Retained earnings  10,287   9,588 Total Nasdaq stockholders' equity  11,988   12,227 Noncontrolling interests  5   5 Total equity  11,993   12,232 Total liabilities and equity $27,341  $31,053  Nasdaq, Inc.Reconciliation of U.S. GAAP to Non-GAAP Net Income and Diluted Earnings Per Share(in millions, except per share amounts)(unaudited)             Three Months Ended Six Months Ended   June 30, June 30, June 30, June 30,    2026   2025   2026   2025           U.S. GAAP net income $507  $452  $1,026  $847 Non-GAAP adjustments:        Amortization expense of acquired intangible assets1  121   122   243   243 Merger and strategic initiatives expense2  5   20   9   44 Restructuring charges3  14   9   24   15 Gain from extinguishment of debt4  —   —   —   (19)Legal and regulatory matters5  6   1   12   4 Net gain on divestitures6  —   (39)  (89)  (39)Net income from unconsolidated investees7  (21)  (23)  (47)  (50)Other losses8  6   1   20   1 Total non-GAAP adjustments  131   91   172   199 Non-GAAP adjustment to the income tax provision9  (33)  (24)  (44)  (52)Other tax adjustments10  —   (27)  —   (45)Total non-GAAP adjustments, net of tax  98   40   128   102 Non-GAAP net income $605  $492  $1,154  $949           U.S. GAAP diluted earnings per share $0.89  $0.78  $1.80  $1.46 Total adjustments from non-GAAP net income above  0.18   0.07   0.23   0.18 Non-GAAP diluted earnings per share $1.07  $0.85  $2.03  $1.64           Weighted-average diluted common shares outstanding for earnings per share:  567.8   579.0   569.7   579.5  Nasdaq, Inc.Reconciliation of U.S. GAAP to Non-GAAP Operating Income and Operating Margin(in millions)(unaudited)           Three Months Ended Six Months Ended   June 30, June 30, June 30, June 30,    2026   2025   2026   2025 U.S. GAAP operating income $712  $568  $1,369  $1,115 Non-GAAP adjustments:        Amortization expense of acquired intangible assets1  121   122   243   243 Merger and strategic initiatives expense2  5   20   9   44 Restructuring charges3  14   9   24   15 Gain from extinguishment of debt4  —   —   —   (19)Legal and regulatory matters5  6   1   12   4 Other losses  1   1   1   1 Total non-GAAP adjustments  147   153   289   288 Non-GAAP operating income $859  $721  $1,658  $1,403          Revenues less transaction-based expenses $1,500  $1,306  $2,908  $2,543           U.S. GAAP operating margin11  47%  44%  47%  44%          Non-GAAP operating margin12  57%  55%  57%  55%          Note: The percentages are calculated based on exact dollars, and therefore may not recalculate exactly using rounded numbers as presented in US$ millions.           Nasdaq, Inc.Reconciliation of U.S. GAAP to Non-GAAP Operating Expenses(in millions)(unaudited)           Three Months Ended Six Months Ended   June 30, June 30, June 30, June 30,    2026   2025   2026   2025           U.S. GAAP operating expenses $788  $738  $1,539  $1,428 Non-GAAP adjustments:        Amortization expense of acquired intangible assets1  (121)  (122)  (243)  (243)Merger and strategic initiatives expense2  (5)  (20)  (9)  (44)Restructuring charges3  (14)  (9)  (24)  (15)Gain on extinguishment of debt4  —   —   —   19 Legal and regulatory matters5  (6)  (1)  (12)  (4)Other losses  (1)  (1)  (1)  (1)Total non-GAAP adjustments  (147)  (153)  (289)  (288)Non-GAAP operating expenses $641  $585  $1,250  $1,140            Nasdaq, Inc.Footnotes to Press ReleaseFinancial Tables 1We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.2We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years that have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third-party transaction costs. The frequency and the amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and six months ended June 30, 2026, these costs included amounts associated with various strategic initiative costs. For the three and six months ended June 30, 2025, these costs primarily included amounts associated with the transfer of open positions in our Nordic power futures business, Adenza integration costs and other strategic initiative costs.3In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program, “Adenza Restructuring” to optimize our efficiencies as a combined organization. We initiated the program upon the acquisition of Adenza and further expanded the program in the fourth quarter of 2024 following the achievement of our initial targets. We have incurred costs principally related to employee-related costs, contract terminations, asset impairments and other related costs and expect to incur additional costs in these areas in an effort to accelerate efficiencies through location strategy and enhanced AI capabilities. Actions taken as part of this program were completed as of December 31, 2025, and all costs have been incurred as of June 30, 2026.4For the six months ended June 30, 2025, we recorded a gain on the extinguishment of debt. This gain is recorded in general, administrative and other expense in our Condensed Consolidated Statements of Income.5For the three and six months ended June 30, 2026 and 2025, this includes accruals relating to certain legal matters, which are recorded in professional and contract services in our Condensed Consolidated Statements of Income.6For the six months ended June 30, 2026, this primarily includes the recognition of an incremental gain on the divestiture of our Nordic power futures business, net of costs to sell. For the three and six months ended June 30, 2025, this includes gains on divestitures of our Nordic power futures business and our Nasdaq Risk Modelling for Catastrophes business.7We exclude our share of the earnings and losses of our equity method investments. This provides a more meaningful analysis of Nasdaq’s ongoing operating performance or comparisons in Nasdaq’s performance between periods.8For the three and six months ended June 30, 2026 and 2025, other items primarily include net gains and losses from strategic investments entered into through our corporate venture program. For the three and six months ended June 30, 2026, this also includes intangible asset impairments of customer relationships and licenses relating to the wind-down of our Nordic power futures business. The net effect of these items is included in other income (losses) in our Condensed Consolidated Statements of Income.9For the three and six months ended June 30, 2026 and 2025, the non-GAAP adjustment to the income tax provision primarily includes the tax impact of each non-GAAP adjustment.10For the three and six months ended June 30, 2025, other tax adjustments reflect a tax benefit related to payments made to certain former Adenza employees. For the six months ended June 30, 2025, this also reflects the release of the prior years' reserves following a favorable audit settlement.11U.S. GAAP operating margin equals U.S. GAAP operating income divided by revenues less transaction-based expenses.12Non-GAAP operating margin equals non-GAAP operating income divided by revenues less transaction-based expenses.
Nasdaq, Inc.Reconciliation of Organic and Adjusted Impacts (in millions, except per share amounts)(unaudited)                                   Three Months
Ended
June 30,  Total Variance FX/Divestitures/
Acquisition
impact Organic Variance1 Adjustment Adjusted
Variance1 2026
2025
 $% $% $% $ $%Capital Access Platforms                Data and Listing Services$217$198 $19 10% $1 —% $189% $— $189%Index 271 196  75 38%  — —%  7538%  6  6935%Workflow and Insights 133 126  7 5%  1 —%  65%  —  65%Total Capital Access Platforms revenues 621 520  101 19%  2 —%  9919%  6  9318%                 Financial Technology                Financial Crime Management Technology 98 81  17 22%  — —%  1722%  —  1722%Regulatory Technology 120 104  16 15%  2 —%  1413%  —  1413%Capital Markets Technology 321 279  42 15%  2 —%  4014%  —  4014%Total Financial Technology revenues 539 464  75 16%  4 —%  7115%  —  7115%                 Market Services net revenues 340 306  34 11%  1 —%  3311%  —  3311%                 Other revenues — 16  (16)(100)%  (16)(100)%  ——%  —  ——%                 Revenues less transaction-based expenses$1,500$1,306 $194 15% $(9)(1)% $20316% $6 $19715%                 Solutions revenue 2$1,160$991 $169 17% $(1)(1)% $17017% $6 $16417%                 Non-GAAP Operating Expenses$641$585 $56 10% $(4)(1)% $6010% $— $6010%                 Non-GAAP Operating Income$859$721 $138 19% $(5)(1)% $14320% $6 $13719%                 Non-GAAP diluted earnings per share$1.07$0.85 $0.22 25% $— —% $0.2226% $0.01 $0.2125%                 Note: The percentages are calculated based on exact dollars, and therefore may not recalculate exactly using rounded numbers as presented in US$ millions. The sum of the percentage changes may not tie to the percentage change in total variance due to rounding.                 1 Adjusted and organic variance is calculated by removing the impacts of changes in foreign exchange rates, an acquisition, and divestitures. Adjusted variance also excludes a one-time revenue benefit in our Index business in the second quarter of 2026.                 2 Total Solutions revenues includes Capital Access Platforms and Financial Technology revenues as well as $7 million of Other revenue in the second quarter of 2025, related to the sale of the Solovis business, which was sold in the fourth quarter of 2025. Nasdaq, Inc.Key Drivers Detail(unaudited)                    Three Months
Ended Six Months
Ended  June 30, June 30,   2026   2025   2026   2025 Capital Access Platforms        Annualized recurring revenues (in millions) 1$1,388  $1,286  $1,388  $1,286  Initial public offerings        The Nasdaq Stock Market 68   79   131   142  Nasdaq operating company IPOs 26   38   41   83  SPACs 42   41   90   59  Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic 11   6   13   10  Total new listings        The Nasdaq Stock Market 188   194   364   364  Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic 2 15   6   20   15  Number of listed companies        The Nasdaq Stock Market 3 4,659   4,238   4,659   4,238  Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic 4 1,109   1,148   1,109   1,148  Index        Number of licensed exchange traded products 481   422   481   422  Period end ETP assets under management (AUM) tracking Nasdaq indexes (in billions)$1,114  $745  $1,114  $745  Total average ETP AUM tracking Nasdaq indexes (in billions)$1,014  $663  $946  $662  TTM 5 net inflows ETP AUM tracking Nasdaq indexes (in billions)$109  $88  $109  $88  TTM 5 net appreciation ETP AUM tracking Nasdaq indexes (in billions)$260  $88  $260  $88          Financial Technology        Annualized recurring revenues (in millions) 1        Financial Crime Management Technology$359  $308  $359  $308  Regulatory Technology 428   376   428   376  Capital Markets Technology 1,083   932   1,083   932  Total Financial Technology$1,870  $1,616  $1,870  $1,616          Market Services        Equity Derivative Trading and Clearing        U.S. equity options        Total industry average daily volume (in millions) 66.5   52.5   64.6   53.0  Nasdaq PHLX matched market share 11.2%  9.6%  11.8%  9.4% The Nasdaq Options Market matched market share 2.6%  4.3%  2.6%  4.7% Nasdaq Texas Options matched market share (formerly Nasdaq BX) 1.3%  1.7%  1.3%  1.7% Nasdaq ISE Options matched market share 6.6%  6.6%  6.4%  6.7% Nasdaq GEMX Options matched market share 3.4%  4.4%  3.4%  4.0% Nasdaq MRX Options matched market share 4.0%  2.8%  4.1%  2.8% Total matched market share executed on Nasdaq's exchanges 29.1%  29.4%  29.6%  29.3% Nasdaq Nordic and Nasdaq Baltic options and futures        Total average daily volume of options and futures contracts 221,789   223,450   235,945   240,133          Cash Equity Trading          Total U.S.-listed securities          Total industry average daily share volume (in billions) 20.2   18.4   20.1   17.1 Matched share volume (in billions) 184.5   158.4   368.2   295.5 The Nasdaq Stock Market matched market share 14.3%  13.5%  14.5%  13.8%Nasdaq Texas matched market share (formerly Nasdaq BX) 0.3%  0.3%  0.3%  0.3%Nasdaq PSX matched market share 0.1%  0.1%  0.1%  0.1%Total matched market share executed on Nasdaq's exchanges 14.7%  13.9%  14.9%  14.2%Market share reported to the FINRA/Nasdaq Trade Reporting Facility 46.4%  47.7%  46.0%  47.9%Total market share 6 61.1%  61.6%  60.9%  62.1%Nasdaq Nordic and Nasdaq Baltic securities           Average daily number of equity trades executed on Nasdaq's exchanges 747,410   804,121   773,062  796,426 Total average daily value of shares traded (in billions)$6.2  $5.7  $6.5 $5.5 Total market share executed on Nasdaq's exchanges 7 74.5% 71.9%  74.4% 71.2%                  1Annualized Recurring Revenue (ARR) for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature, or where the contract value fluctuates based on defined metrics. ARR is currently one of our key performance metrics to assess the health and trajectory of our recurring business. ARR does not have any standardized definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.2New listings include IPOs and represent companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.3Number of total listings on The Nasdaq Stock Market for the three and six months ended June 30, 2026 and 2025 included 1,243 and 914 ETPs, respectively.4Represents companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.5Trailing twelve months.6Includes transactions executed on The Nasdaq Stock Market's, Nasdaq Texas's (formerly Nasdaq BX) and Nasdaq PSX's systems plus trades reported through the Financial Industry Regulatory Authority/Nasdaq Trade Reporting Facility.7European cash equities markets include cash equities exchanges of Sweden, Denmark, Finland, and Iceland. Minor adjustments to prior periods reflect data from a new consolidated data provider that accurately captures all primary trading venues and Multilateral Trading Facilities, or MTFs.  

UOB Global Economics & Markets Research reports that EUR/USD slipped 0.3% to 1.1377 as the Euro (EUR) weakened against the US Dollar (USD) despite the European Central Bank (ECB) leaving rates unchanged and President Lagarde acknowledging some calls for a hike. Markets interpret her comments and Bloomberg’s take as pointing to a bias toward further tightening, with September seen as a likely window for another move.

Lagarde hints at possible September move"The European Central Bank’s (ECB) at its July monetary policy meeting, held its policy interest rates unchanged in a unanimous decision, as widely expected."

"And while the decision was unanimous, ECB President Lagarde told reporters that some colleagues raised the question of whether to act now and pledged to look closely at new data over the coming weeks."

"While the ECB stuck with its standard insistence on taking a “meeting-by-meeting” approach to setting monetary policy, Bloomberg noted the remarks amount to the clearest sign yet that policymakers are minded to keep tightening, not least with war flaring up again in the Middle East, and the Sep meeting is widely seen as a natural point to deliver another move, backed by new quarterly staff forecasts, inflation prints for the two prior months and more economic data including several business surveys."

"The euro also weakened against the USD, even as ECB Lagarde was seen to be signalling a potential tightening in the Sep meeting."

"The EUR/USD closed the session down at 1.1377 (from 1.1412), a 0.3% depreciation."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

KENOSHA, Wis.--(BUSINESS WIRE)--Snap-on Incorporated today announced 2026 second quarter results, including net sales of $1,235.1 million and diluted EPS of $4.96 per share.

WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)--United Bankshares, Inc. Announces Record Earnings for the Second Quarter of 2026.

Morgan Stanley expects the Federal Reserve to hold steady next week

Morgan Stanley strategists said in a report that recent data indicates the Federal Reserve will hold steady at its July policy meeting and likely maintain interest rates unchanged for the rest of the year. They wrote: “The Fed is losing patience with inflation above its target. The trajectory of inflation in the coming months is critical—we expect inflation to cool as anticipated—otherwise the Fed may pivot to raising rates later this year.” Currently, money markets have priced in expectations of nearly two Fed rate hikes by the end of the year. However, the slowing inflation trend may prompt the Fed to hold rates steady this year, keeping the federal funds rate in the 3.50% to 3.75% range. “We expect the downward trend in inflation will keep the Fed on hold this year.”

12 minutes ago

Elon Musk: AI could surpass human intelligence within 5 years, and the importance of currency may decline in 10 years.

Tesla and SpaceX founder Elon Musk told *The Economist* in a 90-minute interview that artificial intelligence (AI) could surpass human intelligence within the next five years, and predicted that AI and robots would push the world into an "era of high prosperity" in roughly a decade. Musk argued that once AI systems and robots have sufficiently advanced digital intelligence and production capacity, the global economy could approach a state of "infinite supply", making human work no longer a necessity for survival and gradually reducing the importance of currency. He noted that with enough robots in the future, society would have a "quasi-infinite economy" where AI can produce more goods and services than humanity can consume. He even predicted that by around 2036, the traditional monetary system would likely see its importance decline significantly. On future economic operation models, Musk said governments may maintain social function by distributing funds directly to the public, adding that AI-driven productivity gains could lead to deflation rather than inflation. However, Musk acknowledged that issues including corporate profit models, government fiscal sources, and social transformation mean the AI era’s economic structure could differ drastically from traditional economic laws. Additionally, Musk discussed the integration of AI and space development, stating that future AI computing could be supported by space-deployed data centers, and reiterating his long-term plan for human exploration of Mars. During the interview, Musk also reflected on his prior involvement with the Trump administration’s Department of Government Efficiency (DOGE). He admitted to investing too much energy in politics, saying he "got sidetracked" in some areas, and noted that if given the choice again, he would likely devote more time to his own companies.

12 minutes ago

A whale’s $30 million tech stock trading plan: AMD plans to close short positions and go long, while Micron and SanDisk will wait for a rebound to open short positions.

According to Hyperinsight monitoring, as of press time, the largest single order related to tech stocks on Hyperliquid has been placed by an intraday swing whale (0x4e2), who holds a total of 209 orders worth approximately $30.679 million. The trading plan includes: "Close AMD short at low levels, add short positions on storage stocks during rebounds": - AMD stop-loss to close short: Currently holds ~$6.051 million in AMD short positions, with an unrealized loss of ~$74,000. A buy order worth $4.012 million has been placed at $542.4 to $544.6, planning to reduce about two-thirds of the short positions first. - AMD reverse to long: Another buy order worth $16.444 million is placed at $531 to $541. The strategy is to close the short position when the price drops to ~$540.48, then reverse to long; if fully filled, the final long position is estimated at ~$14.659 million, with an average price of ~$537.7. - MU add short on rebound: A sell order worth $8.187 million is placed at $1012 to $1080. If fully filled, MU's short position is estimated to expand to ~$7.76 million based on the current mark price, with an average price of ~$1038.3. - SNDK add short on rebound: A sell order worth $2.036 million is placed at $1675 to $1849. If fully filled, SNDK's short position is estimated to expand to ~$1.946 million based on the current mark price, with an average price of ~$1700.7. No triggerable stop-loss orders have been observed so far, and there are no take-profit buy orders for MU and SNDK. The overall strategy is: close AMD short when it falls below the break-even point, then reverse to long; add short positions in the storage sector during rebounds. Previous update: The "US stock market big winner" just pocketed $6.57 million. What are the next take-profit and swing trading levels for the new $58 million order?

12 minutes ago

JPMorgan Chase raises Intel's price target from $45 to $85.

JPMorgan Chase raised its price target on Intel (INTC.O) from $45 to $85, following the chipmaker’s release of an unexpectedly strong revenue forecast that signals surging data center spending is fueling its long-awaited recovery. Intel projected third-quarter sales of $15.8 billion to $16.8 billion; even the lower end of this range comfortably exceeds the average analyst estimate of $15.1 billion. The outlook underscores Intel’s growth momentum among data center customers, who are urgently in need of chips to meet artificial intelligence computing demands. Last quarter, sales in this segment surged 59%—more than double Intel’s overall revenue growth rate.

12 minutes ago

$285M Drift Protocol exploiter deposits $44.4M $ETH into Tornado Cash

The Drift Protocol exploiter who stole $285M has deposited 23,095 $ETH ($44.4M) into #TornadoCash today. The exploiter still holds 107,165 $ETH ($201M).

12 minutes ago

Tech stocks continue to slump, forcing bulls out as 3 whales cut losses on $7.26 million worth of long positions.

According to Hyperinsight monitoring, as of press time, SK Hynix, Google, and the Nasdaq 100 have declined roughly 5.8%, 4.2%, and 1.9% respectively. Within the noon hour, three whales sold their existing long positions, totaling around $7.2637 million in trading volume and generating realized losses of approximately $79,800: The address starting with 0x960 liquidated 167.0 Nasdaq 100 long positions, with a trading volume of ~$4.729 million and a loss of ~$46,000; the address starting with 0x943 liquidated 1248.3 SKHX long positions, with a trading volume of ~$1.502 million and a loss of ~$18,000, then immediately shorted SKHX worth $225,700; the address starting with 0x61c liquidated 3262.0 GOOGL long positions, with a trading volume of ~$1.032 million and a loss of ~$14,000. Only the GOOGL trade is confirmed to have been triggered by a $317 stop-loss order, while the rest were voluntarily closed at a loss.

12 minutes ago

Morgan Stanley expects the Federal Reserve to hold steady next week

Morgan Stanley strategists said in a report that recent data indicates the Federal Reserve will hold steady at its July policy meeting and likely maintain interest rates unchanged for the rest of the year. They wrote: “The Fed is losing patience with inflation above its target. The trajectory of inflation in the coming months is critical—we expect inflation to cool as anticipated—otherwise the Fed may pivot to raising rates later this year.” Currently, money markets have priced in expectations of nearly two Fed rate hikes by the end of the year. However, the slowing inflation trend may prompt the Fed to hold rates steady this year, keeping the federal funds rate in the 3.50% to 3.75% range. “We expect the downward trend in inflation will keep the Fed on hold this year.”

12 minutes ago

Elon Musk: AI could surpass human intelligence within 5 years, and the importance of currency may decline in 10 years.

Tesla and SpaceX founder Elon Musk told *The Economist* in a 90-minute interview that artificial intelligence (AI) could surpass human intelligence within the next five years, and predicted that AI and robots would push the world into an "era of high prosperity" in roughly a decade. Musk argued that once AI systems and robots have sufficiently advanced digital intelligence and production capacity, the global economy could approach a state of "infinite supply", making human work no longer a necessity for survival and gradually reducing the importance of currency. He noted that with enough robots in the future, society would have a "quasi-infinite economy" where AI can produce more goods and services than humanity can consume. He even predicted that by around 2036, the traditional monetary system would likely see its importance decline significantly. On future economic operation models, Musk said governments may maintain social function by distributing funds directly to the public, adding that AI-driven productivity gains could lead to deflation rather than inflation. However, Musk acknowledged that issues including corporate profit models, government fiscal sources, and social transformation mean the AI era’s economic structure could differ drastically from traditional economic laws. Additionally, Musk discussed the integration of AI and space development, stating that future AI computing could be supported by space-deployed data centers, and reiterating his long-term plan for human exploration of Mars. During the interview, Musk also reflected on his prior involvement with the Trump administration’s Department of Government Efficiency (DOGE). He admitted to investing too much energy in politics, saying he "got sidetracked" in some areas, and noted that if given the choice again, he would likely devote more time to his own companies.

12 minutes ago

A whale’s $30 million tech stock trading plan: AMD plans to close short positions and go long, while Micron and SanDisk will wait for a rebound to open short positions.

According to Hyperinsight monitoring, as of press time, the largest single order related to tech stocks on Hyperliquid has been placed by an intraday swing whale (0x4e2), who holds a total of 209 orders worth approximately $30.679 million. The trading plan includes: "Close AMD short at low levels, add short positions on storage stocks during rebounds": - AMD stop-loss to close short: Currently holds ~$6.051 million in AMD short positions, with an unrealized loss of ~$74,000. A buy order worth $4.012 million has been placed at $542.4 to $544.6, planning to reduce about two-thirds of the short positions first. - AMD reverse to long: Another buy order worth $16.444 million is placed at $531 to $541. The strategy is to close the short position when the price drops to ~$540.48, then reverse to long; if fully filled, the final long position is estimated at ~$14.659 million, with an average price of ~$537.7. - MU add short on rebound: A sell order worth $8.187 million is placed at $1012 to $1080. If fully filled, MU's short position is estimated to expand to ~$7.76 million based on the current mark price, with an average price of ~$1038.3. - SNDK add short on rebound: A sell order worth $2.036 million is placed at $1675 to $1849. If fully filled, SNDK's short position is estimated to expand to ~$1.946 million based on the current mark price, with an average price of ~$1700.7. No triggerable stop-loss orders have been observed so far, and there are no take-profit buy orders for MU and SNDK. The overall strategy is: close AMD short when it falls below the break-even point, then reverse to long; add short positions in the storage sector during rebounds. Previous update: The "US stock market big winner" just pocketed $6.57 million. What are the next take-profit and swing trading levels for the new $58 million order?

12 minutes ago

JPMorgan Chase raises Intel's price target from $45 to $85.

JPMorgan Chase raised its price target on Intel (INTC.O) from $45 to $85, following the chipmaker’s release of an unexpectedly strong revenue forecast that signals surging data center spending is fueling its long-awaited recovery. Intel projected third-quarter sales of $15.8 billion to $16.8 billion; even the lower end of this range comfortably exceeds the average analyst estimate of $15.1 billion. The outlook underscores Intel’s growth momentum among data center customers, who are urgently in need of chips to meet artificial intelligence computing demands. Last quarter, sales in this segment surged 59%—more than double Intel’s overall revenue growth rate.

12 minutes ago

Tech stocks continue to slump, forcing bulls out as 3 whales cut losses on $7.26 million worth of long positions.

According to Hyperinsight monitoring, as of press time, SK Hynix, Google, and the Nasdaq 100 have declined roughly 5.8%, 4.2%, and 1.9% respectively. Within the noon hour, three whales sold their existing long positions, totaling around $7.2637 million in trading volume and generating realized losses of approximately $79,800: The address starting with 0x960 liquidated 167.0 Nasdaq 100 long positions, with a trading volume of ~$4.729 million and a loss of ~$46,000; the address starting with 0x943 liquidated 1248.3 SKHX long positions, with a trading volume of ~$1.502 million and a loss of ~$18,000, then immediately shorted SKHX worth $225,700; the address starting with 0x61c liquidated 3262.0 GOOGL long positions, with a trading volume of ~$1.032 million and a loss of ~$14,000. Only the GOOGL trade is confirmed to have been triggered by a $317 stop-loss order, while the rest were voluntarily closed at a loss.

12 minutes ago

Due to the #oil price surge, loracle.hl(@loraclexyz) was fully liquidated on 104,848 $CL($9.68M), losing $680K. But h...

Due to the #oil price surge, loracle.hl(@loraclexyz) was fully liquidated on 104,848 $CL($9.68M), losing $680K. But he didn't give up. He opened another short on #oil and now holds a 33,500 $CL($3.07M) short position.

12 minutes ago

HomeEarnings AnalysisIndustrial 

SummaryBloom Energy is upgraded from Hold to Buy, driven by its tech moat in solid oxide fuel cells and accelerating growth.BE’s Q1 revenue surged 130% YoY, with the product segment up 208% and strong margin expansion across all segments.I expect Q2 catalysts: higher segment margins, another large hyperscaler deal, sustained positive operating cash flow, and continued manufacturing cost reductions.Despite premium valuation, BE’s profitability, $20B backlog, and asset-light shift support significant growth potential, with regulatory and execution risks to monitor. Sundry Photography/iStock Editorial via Getty Images

Investment Thesis Since my last coverage, Bloom Energy (BE) is up almost 100%, driven by its tech moat in developing solid oxide fuel cells (SOFCs), which can use various fuels as inputs in order

1.61K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BE over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

BOCA RATON, Fla.--(BUSINESS WIRE)--CELSIUS has launched SPRITZ VIBE Summer Edition, a limited-time only Sparkling Limoncello Twist flavor arriving just in time for the season.

July 23, 2026 16:05 ET  | Source: Virtu Financial, LLC

NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT) (the “Company”), a global market maker, broker and leading provider of global financial services technology, today announced that its subsidiaries successfully priced and closed incremental term loans in the amount of $500 million (the “Incremental Term Loans”), increasing the total term loan balance under its senior secured credit facility to $2,030 million (the “Term Loans”).

The Incremental Term Loan, along with the existing Term Loans, will bear interest at Term SOFR + 250 basis points, and will be issued at par.

The proceeds of the Incremental Term Loan may be used for general corporate purposes. The Term Loans are guaranteed by Virtu Financial LLC, a subsidiary of the Company, and certain of its subsidiaries.

About Virtu Financial, Inc.

Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, as well as uncertainties relating to the Term Loans. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized.

CONTACT         

Investor Relations
Matthew Sandberg
[email protected]

MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of L3Harris Technologies (NYSE: LHX) has declared a quarterly cash dividend of $1.25 per common share, payable Sept. 18, 2026, to shareholders of record as of the close of business on Sept. 4, 2026. About L3Harris Technologies L3Harris is the Trusted Disruptor in defense tech. With customers' mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains.

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ON Semiconductor Corporation ("Onsemi" or the "Company") (NASDAQ: ON). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Onsemi and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 25, 2026, Onsemi announced an agreement to buy the internet-of-things company Synaptics Incorporated ("Synaptics") in an all-stock transaction.  Pursuant to the terms of the agreement, Synaptics shareholders will receive 1.35 shares of Onsemi stock for each Synaptics share, representing an enterprise value of around $7 billion. 

Following announcement of the agreement, Onsemi's stock price fell $28.09 per share, or 23.66%, to close at $90.65 per share on June 26, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

, /PRNewswire/ -- Huntington Bancshares Incorporated announced that the Board of Directors ("Board") declared a quarterly cash dividend on the company's common stock (Nasdaq: HBAN) of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable October 1, 2026, to shareholders of record on September 17, 2026.

The Board also declared quarterly cash dividends on the following six series of its preferred stock payable October 15, 2026, to their respective shareholders of record on October 1, 2026:

A quarterly cash dividend on its Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150500) of $16.78632394 per share (equivalent to $0.4196581 per depositary receipt share). A quarterly cash dividend on its 5.625% Series F Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AT1) of $1,406.25 per share (equivalent to $14.0625 per depositary share). A quarterly cash dividend on its 4.450% Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AV6) of $1,112.50 per share (equivalent to $11.1250 per depositary share). A quarterly cash dividend on its 4.5% Series H Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANP) of $11.25 per share (equivalent to $0.28125 per depositary share). A quarterly cash dividend on its 6.875% Series J Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANL) of $17.19 per share (equivalent to $0.42975 per depositary share). A quarterly cash dividend on its 6.25% Series K Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150BG8) of $1,562.50 per share (equivalent to $15.625 per depositary share). Lastly, the Board declared a quarterly cash dividend on the company's 5.50% Series L Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANZ) of $343.75 per share (equivalent to $0.34375 per depositary share) payable November 20, 2026, to shareholders of record on November 5, 2026.

About Huntington

Huntington Bancshares Incorporated is a $284 billion asset regional bank holding company headquartered in Columbus, Ohio. A top 10 U.S. commercial bank, the Huntington National Bank and its affiliates provide consumers, small and middle-market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Founded in 1866, Huntington operates over 1,400 branches in 21 states, with certain businesses operating nationally. Visit Huntington.com for more information.

SOURCE Huntington Bancshares Incorporated

HomeDividends AnalysisDividend Quick Picks

SummaryThe Fed's recent hawkish pivot sharply increased interest rates, negatively impacting most income sectors.CMT preferreds emerge as a compelling sub-sector, offering potential protection against rising long-term rates.Screening CMT preferreds by reset yield and yield-to-call can help identify attractive opportunities.Looking for a portfolio of ideas like this one? Members of Systematic Income get exclusive access to our subscriber-only portfolios. Learn More » Getty Images

In Kevin Warsh's first press conference in June, the Fed shocked markets and made a hawkish pivot, pushing up interest rates across the yield curve. This development was received badly by most income sectors. This is what the daily move looked

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of AGNCL,EFC.PR.B,KEY.PR.L,VLYPN,RITM.PR.D either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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