Track market-moving stories before they get noisy

On Thursday, July 9, BlackRock debuted the iShares Nasdaq 100 ETF (IQQ). IQQ marks a significant inflection point in the ETF market, as BlackRock looks to challenge the tried-and-true Invesco QQQ Trust Series I (QQQ).

Key Takeaways: BlackRock has launched the iShares Nasdaq 100 ETF (IQQ), a fund that provides targeted exposure to companies within the Nasdaq-100. IQQ joins the State Street SPDR Portfolio Nasdaq 100 ETF (QNDX) as the second fund to challenge Invesco’s QQQ. QQQ continues to post strong annual results, especially after the fund announced structural adjustments at the end of 2025. As one may expect, IQQ looks to provide focused exposure to the Nasdaq-100. This index has historically offered compelling access to companies within the tech, consumer discretionary, healthcare, and industrials sectors. 

“IQQ enhances our ability to offer investors access to the Nasdaq-100 with iShares ETFs — providing complementary strategies that allow them to align their portfolios with their objectives,” said Elise Terry, U.S. Head of iShares at BlackRock. “Supported by the liquidity, market quality, and scale of the iShares platform, this expanded suite gives investors the flexibility to customize their exposures and evolve portfolios over time.”

See More: Why Pure-Play Healthcare Technology Innovation Matters

Part of how IQQ aims to challenge QQQ’s long-standing dominance is through its expense ratio. IQQ usually operates with an expense ratio of 12 basis points, and is temporarily running a waiver that reduces that to 10 basis points. 

Amping Up The Competition BlackRock is not the first firm to go to bat against the Q’s. Back in June, State Street also launched the State Street SPDR Portfolio Nasdaq 100 ETF (QNDX), which likewise provides distinct access to the Nasdaq-100. 

See More: State Street Goes Heads Up With Qs, Launches Nasdaq 100 ETF

It’s certainly worth noting that QQQ is currently posting highly impressive results. As of June 29, 2026, the fund has a 1-year cumulative return of 33.98%. 

This comes after Invesco announced a number of changes to QQQ’s structure at the end of 2025. The restructuring included shifting the format from a unit investment trust into an open-ended ETF and lowering the fund’s fee by two basis points. Consequently, long-term QQQ investors will likely stick with the strategy despite new competition.

That being said, competition can also breed innovation. Advisors and investors would be wise to keep an eye on all three ETFs in the weeks and months to come. Considering that the Nasdaq-100’s tech tilt taps into a number of favorable trends, such as artificial intelligence (AI), these funds could offer potent positions within a multitude of portfolios. 

For more news, information, and analysis, visit the Equity ETF Content Hub.

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Starbucks is developing in-house systems that could replace software it buys from Big Tech companies, Bloomberg News reported Thursday (July 9).

The coffee chain is working on alternatives to a system from Microsoft that monitors inventory as well as a maintenance management tool from IBM, the report said, citing an internal presentation.

Starbucks has also been working for several years on creating a point-of-sale system that would replace Oracle Simphony, according to the report.

Starbucks declined to comment when reached by PYMNTS beyond sharing a company blog post about its approach to AI.

The moves are part of a larger shift happening in the business world.

“For two decades, buying enterprise software meant accepting a vendor’s feature set, paying per seat and hiring specialists to manage the platform,” PYMNTS reported Wednesday (July 8). “For small businesses, that model often meant paying for capabilities they never used. AI coding tools are changing that calculation.”

Five startups and small companies with staff ranging from 20 to 70 people switched from working with Salesforce and HubSpot in the last six months, turning instead to in-house applications built using AI tools from Anthropic, Lovable and Replit. These businesses reduced software costs by 40% to 80%.

Research and advisory firm Gartner found that up to $234 billion of enterprise application software spending will be exposed to agentic arbitrage by the end of 2030, or roughly 20% of all enterprise software-as-a-service spending.

“Agentic AI changes the economics of software,” George Brocklehurst, managing vice president at Gartner, said in a July 1 news release.

Retool, a low-code platform for building custom internal tools, found that 35% of enterprises have already swapped out at least one SaaS tool with a custom-built alternative, with 78% saying they intend to develop more this year.

Starbucks spends roughly $400 million per year just on software, Chief Technology Officer Anand Varadarajan told employees in an internal forum earlier this year, according to the Bloomberg report.

“There’s clear opportunities to reduce the spend in software,” Varadarajan said, per the report.

While in-house software can be cheaper for companies like Starbucks, which hopes to lower costs by $2 billion for its turnaround plan, building can lead businesses to pay more for maintenance and labor, the report said.

TLDR: Table of Contents

TLDR:Temasek Crypto Stance Remains UnchangedAI, Europe, and Defense Investment PrioritiesGet 3 Free Stock Ebooks Temasek holds zero direct crypto investments, citing unresolved regulatory uncertainty worldwide today. The fund absorbed a $275 million FTX writedown in 2022, damaging Singapore’s financial reputation. Temasek plans to raise AI exposure from six percent to fifteen percent of assets by 2031. Europe drew 12 billion euros in Temasek capital over two years, trailing only the United States. Temasek crypto investments remain absent from the Singapore sovereign wealth fund’s portfolio, four years after a costly FTX exposure.

Chief Investment Officer Nagi Hamiyeh confirmed the firm holds no direct digital asset positions, citing ongoing regulatory uncertainty across global markets.

The statement follows a $275 million writedown Temasek recorded in 2022 after the collapse of cryptocurrency exchange FTX.

Despite avoiding direct crypto exposure, Temasek continues tracking blockchain infrastructure applications that could serve the broader real economy.

Temasek Crypto Stance Remains Unchanged Hamiyeh told CNBC’s Sri Jegarajah on Wednesday that Temasek carries no direct crypto holdings in its current portfolio. “We don’t have directly any, any investment in crypto,” he said, pointing to regulatory uncertainty.

The executive said he could not predict what role crypto might eventually play within mainstream finance. Future decisions will depend heavily on how different jurisdictions choose to regulate the sector over time.

The FTX collapse still shapes Temasek’s cautious approach toward direct digital asset exposure today. Singapore’s fund absorbed a $275 million impairment after FTX filed for bankruptcy in 2022.

Lawrence Wong, then serving as deputy prime minister and finance minister, called the loss disappointing. He also noted the writedown affected Singapore’s broader reputation within global financial circles.

Rather than holding crypto directly, Temasek focuses on blockchain technology and its practical infrastructure uses. The fund evaluates how blockchain applications might benefit established sectors within the traditional real economy.

This approach allows Temasek to track innovation without taking on direct cryptocurrency price exposure. Officials continue monitoring the space closely as regulatory clarity slowly develops across major markets.

Hamiyeh’s comments reinforce a consistent position Temasek has maintained since the FTX writedown occurred. The fund has avoided re-entering direct crypto markets even as digital asset adoption expanded elsewhere.

Regulatory ambiguity remains the central obstacle preventing Temasek from reconsidering its current stance. Analysts following sovereign wealth fund behavior see this caution as a deliberate long-term choice.

AI, Europe, and Defense Investment Priorities Temasek is prioritizing artificial intelligence adoption over building frontier models, according to Hamiyeh’s interview. “It’s all about the applications” and companies that build a competitive moat, he said.

Temasek aims to raise AI exposure from six percent of its portfolio toward fifteen percent by 2031. The fund is betting heavily on physical AI applications including automation and industrial robotics.

Europe has attracted roughly 12 billion euros in Temasek capital across the past two years. This places Europe second only to the United States among Temasek’s regional investment destinations.

Hamiyeh cited European strengths in luxury goods, consumer brands, and family-owned industrial businesses. He described Temasek’s approach to the region as patient, long-term capital deployment.

On the Middle East, Hamiyeh said the region’s transformation story is intact but conflict outcomes remain unclear. “We have to wait and see what are the ramifications of this conflict,” he said. Temasek continues watching how geopolitical developments might reshape the Middle East’s economic role globally.

Regarding defense, Hamiyeh said Temasek evaluates opportunities on a case-by-case basis rather than blanket exclusion. The fund focuses on dual-use technologies applicable to both civilian and military settings.

Biological and chemical weapons remain categorically excluded from any Temasek investment consideration. ST Engineering currently represents Temasek’s only direct exposure within the defense sector.

Bitcoin (BTC) has entered the same 91-day window that ended each of its last three bear markets. History suggests this stretch is the most punishing of any cycle, yet the damage keeps shrinking with each repeat.

Two independent methods now converge on a similar floor. A linear regression on past drawdowns and a logarithmic Fibonacci retracement both point toward a bottom near $47,000 by early October.

Bitcoin Enters the 91-Day Window That Ends Bear MarketsBitcoin trades near $62,865 today. It has fallen close to 50% from its record high of around $126,000 set in October 2025. That decline already matches the scale of past Bitcoin bear markets.

The current drop invites an obvious question. How much further could the price fall before it finds a floor? Past cycles offer a useful guide.

This analysis measures the final 91 days of each past bear market. Each window runs from a local high to the low printed 91 days later.

The 91-day span equals roughly one financial quarter. That makes it a consistent yardstick across every cycle. It also captures the phase when panic selling tends to peak.

The method isolates the closing leg of every bear market. That leg has historically delivered the steepest and fastest losses of the entire cycle. Comparing the three windows side by side reveals a clear trend.

The timing also aligns with Bitcoin’s four-year cycle. Each bear ending has followed a halving-driven peak by more than a year. Some analysts now question whether that cycle still holds.

The Last 3 Bitcoin Bear Markets Ended the Same WayThe first case ran from October 2014 to January 2015. Bitcoin fell 63.54% across those 91 days. The price bottomed at $152 before a slow recovery began.

Liquidity was thin during that period. The market still carried scars from the Mt. Gox exchange collapse. No institutional bid existed to cushion the decline.

The recovery from that low proved slow but powerful. Bitcoin needed most of 2015 to stabilize before its next major advance began.

BTC weekly chart. Source: TradingviewThe second case covered September to December 2018. Bitcoin dropped 56.69% over the same 91-day span. The low arrived near $3,210 during the November capitulation.

That decline was severe, yet it proved milder than in 2014. The shift marked the first clear sign of a shrinking pattern. A deeper market had started to absorb the selling.

The 2018 bottom held for years as a key floor. It later became a launchpad for the powerful 2020 and 2021 rally.

BTC weekly chart. Source: TradingviewThe third case ran from August to November 2022. Bitcoin lost 37.60% across the window. The bottom formed at $15,632 as the FTX collapse drained market confidence.

The drawdown eased again compared with the prior cycle. The sequence now reads clearly, 63.54%, then 56.69%, then 37.60%. Each ending hurt less than the one before it.

That 2022 low has held ever since. It formed the base for the long climb to fresh records above $120,000 in 2025.

BTC weekly chart. Source: TradingviewWhy Each Bitcoin Bottom Hurts Less Than the LastThe shrinking drawdowns are not random. Each cycle brings deeper liquidity and a more mature market structure. That structure blunts the force of every sell-off.

The trend reflects a broader decline in Bitcoin volatility. Larger size and steadier holders dampen the wild swings of the early years. Milder bear endings are one visible result of that maturity.

BTC Volatility Index. Source: CoinglassSpot Bitcoin ETFs now anchor a large share of demand. Institutional desks, larger derivatives markets, and a bigger market cap all absorb pressure. Pushing the price lower takes far more capital than it once did.

On-chain data supports that read. Large whales kept accumulating through the June sell-off. Their buying tends to slow declines that once ran unchecked.

Exchange-traded funds have cut both ways this year. They drained billions of dollars during June before turning positive in early July. That two-way flow shows how institutional access now shapes each move.

Regression Points to a $47,000 Bitcoin BottomA linear regression captures this softening trend. Fitting the three past drawdowns produces the line y = 65.58 minus 12.97x. The slope points steadily toward smaller losses.

The model projects the next final-quarter decline at roughly 26.6%. That figure extends the pattern seen since 2014. It implies the current bear ending should be the mildest yet.

The math itself stays simple. The regression draws the best straight line through the three past drops. Its downward slope of about 13 points per cycle captures the easing trend.

Three data points form a small sample. The regression, therefore, offers a directional guide rather than a precise guarantee. It frames a likely magnitude, not a certain outcome.

Applying the projected drop to the current cycle is straightforward. The recent weekly candle high sits at $64,657. Bitcoin recently rebounded toward that level after a sharp June decline.

A drop of 26.64% from that high implies a bottom near $47,431. The 91-day window runs from July to early October 2026. Bitcoin currently trades around $62,865, so the model still allows meaningful downside.

Several on-chain research firms share a similar timeline. Many independently point to the fourth quarter of 2026 as a likely bottom window. That timing aligns closely with this model.

BTC weekly chart. Source: TradingviewThe full model across four cycles now lines up as follows.

CycleWindow (91d)StartDropBottom1Oct 2014 – Jan 2015$418-63.54%$1522Sep – Dec 2018$7,412-56.69%$3,2103Aug – Nov 2022$25,053-37.60%$15,6324 (projected)Jul – Oct 2026$64,657-26.64%$47,431Start prices for the first three cycles are derived from each window’s high. The 2026 start uses the exact recent high of $64,657.

Log Fibonacci Points to the Same Bitcoin BottomA second method supports the same conclusion. It uses a logarithmic Fibonacci retracement across each cycle. The log scale suits Bitcoin because its moves compound over time.

A linear scale would distort these comparisons. It would exaggerate recent dollar swings and shrink older ones. The log view keeps every cycle proportional and fair.

The prior cycle offers a useful template. That retracement runs from the $69,000 peak down to the $3,122 bear low. It measures how far the 2022 bear retraced the previous advance.

On that scale, the 2022 bottom is revealing. The 0.5 retracement level sat at $14,678. Bitcoin bottomed at $15,632, just above that midpoint.

The market retraced roughly half of its prior advance before turning. The prior cycle levels ran 0.236 at $33,233, 0.382 at $21,149, 0.5 at $14,678, and 0.618 at $10,186. A peer-reviewed study has also linked these long-term moves to network growth.

BTC weekly chart. Source: TradingviewThe current cycle produces a striking parallel. This retracement runs from the $126,272 all-time high down to the $15,632 prior bottom. It maps the current bear against the last full advance.

Here, the 0.5 level sits at $44,428. The regression target of $47,431 lands just above it. That relationship mirrors 2022 almost candle-for-candle.

In both cases, the projected bottom sits slightly above the logarithmic midpoint. Current levels read 0.236 at $77,123, 0.382 at $56,849, 0.5 at $44,428, 0.618 at $34,722, and 0.786 at $24,444. Two separate methods, therefore, point to the same zone.

The 0.5 level often acts as a fair value on a log chart. A bottom near it suggests a healthy reset rather than a full collapse. Both the last cycle and this projection fit that description.

The 0.382 level at $56,849 also matters right now. It sits just below the current price and may act as support. A clean break beneath it would open the path toward the deeper zone.

Each of these historical bottoms preceded a strong recovery. The 2015, 2019, and 2023 rebounds all began near these retracement levels. That history frames why the projected zone matters to longer-term investors.

BTC weekly chart. Source: TradingviewBitcoin Bear Market: The $44,000 to $47,000 Bottom Zone to WatchThe two methods now frame one region. The regression suggests $47,431, while the log-Fibonacci midpoint is $44,428. Together, they outline a bottom range of roughly $44,000 to $47,000.

The timing centers on early October 2026. Both signals point to the same area, which strengthens the case. It suggests the current cycle may rhyme closely with 2022.

The pattern holds across three completed cycles. Each bear market ends with a brutal quarter, yet each proves milder than the last. That trend forms the core of this thesis.

Several factors could still cause the model to break. The sample size is small, and macro shocks remain possible. A hawkish Federal Reserve under Kevin Warsh could deepen the decline.

Heavy ETF outflows could add further pressure. Strong inflows could instead lift the bottom above the projected zone. The price could already have bottomed.

This framework is an analysis, not financial advice.

Traders may watch the $44,000 to $47,000 zone into October. A weekly close well below $44,000 would challenge the model. A hold above that region would preserve the historical rhythm.

Setting sail in March 2027, guests will find enhanced outdoor escapes, new world-class dining, and unforgettable entertainment for a new Reflection, full of smiles.

, /PRNewswire/ -- Celebrity Cruises is reimagining one of its most beloved ships – and delivering new ways to experience the Caribbean – with the reveal of the newly modernized Celebrity Reflection. As the second Solstice Series ship to be made new again, the transformation introduces 13 new spaces including Edge Series standouts like the stunning Grand Plaza, guest-favorite venues from the revitalized Celebrity Solstice and two brand-new concepts – Orange Peel Bar & Grille and Tacos del Sol. From bow to stern, every detail reshapes how guests relax, dine, and connect across new outdoor spaces, dining experiences, and endless entertainment.

Celebrity Cruises Unveils 13 New Experiences on Celebrity Reflection, Redefining Caribbean Cruising: Celebrity Pool Club Render Sailing year-round in the Caribbean, Celebrity Reflection's itineraries from Fort Lauderdale span three- and four-night Caribbean escapes to Key West and The Bahamas, to six- and eight-night journeys visiting Aruba, Curaçao, Bonaire, Turks & Caicos, and Grand Cayman. Guests can look forward to the 2027 President's Cruise on the renewed Celebrity Reflection from May 10–14, 2027.

"Celebrity Cruises is constantly dreaming up ways to innovate and elevate what we deliver for our guests, which is what makes this fleet modernization program so much more than a refresh," said Laura Hodges Bethge, president of Celebrity Cruises. "With Celebrity Reflection, we're evolving the guest experience in meaningful ways – introducing 13 new spaces designed to help guests relax, explore, and connect in ways that feel effortless and unforgettable."

The happiest pool day yet at the reimagined Celebrity Pool Club  

The Celebrity Pool Club anchors the ship's redesigned outdoor deck, blending modern design with a relaxed tropical atmosphere. Here, every detail is designed with relaxation in mind. Two dedicated bars, expanded seating, plush daybeds, and added shade, plus daily activities and poolside events make it easy for guests to spend the entire day at the water's edge. Guests will also find two new-to-fleet poolside dining experiences:

Orange Peel Bar & Grille: Orange Peel Bar & Grille anchors the poolside experience with a menu built for sun-soaked days. The venue features smashburgers and other grilled favorites alongside frozen cocktails. Guests can enjoy service whether seated nearby or relaxing poolside. Tacos del Sol: Tacos del Sol introduces a casual, open-air concept centered around bold, Mexican-inspired flavors. The venue features a build-your-own taco stand with a range of options and fresh toppings for poolside dining. Four new spaces offer entertainment for every mood

The Grand Plaza is Celebrity Reflection's most dramatic new space. The three-story, Edge Series-style venue anchors the ship's entertainment. A new, centrally located Martini Bar will feature a giant suspended chandelier that commands the room, complete with a chandelier show, as well as live performances and music from day to night.

Originally debuting on Celebrity Solstice, the 125-seat Boulevard Lounge brings all-day entertainment to Celebrity Reflection, anchored by dueling pianos and interactive programming. Guests can enjoy games, karaoke, and live performances throughout the day. Steps away from Boulevard Lounge, Boulevard Bar offers a selection of handcrafted cocktails, perfect for enjoying before or after a show.

Another favorite from Celebrity Solstice, The Parlor is an elevated sports and gaming lounge. Featuring hundreds of classic board games, billiards, and darts, The Parlor is perfect for some friendly competition or watching sports on the big screens. Guests can enjoy craft cocktails, Celebrity Cruises' award-winning whiskies, a menu of shareable bites, elevated takes on comfort-food classics, and a selection of over-the-top milkshakes. 

Guests can soak up the Caribbean sun with a day in the park

The reimagined Sunset Park transforms the ship's top deck into a park-like outdoor space designed for relaxation and connection. The open-air venue features a range of activities – from meditation to lawn games, outdoor movies, and live music – all set against sweeping ocean views. New private cabanas offer shaded areas to unwind, with dedicated attendants catering to guests' every need. Sunset Park Café serves casual bistro-style dining for breakfast and lunch, while the adjacent Sunset Bar offers handcrafted cocktails throughout the day.

Bold flavors meet refined favorites at three new dining experiences

The intimate Italian restaurant Trattoria Rossa, which debuted this year on Celebrity Solstice, serves Roman cuisine. Guests can savor classic meat dishes and pastas made in-house daily, as well as dishes prepared tableside, paired with Italian-inspired cocktails and Celebrity Cruises' award-winning wine selections.

The Forbes Travel Guide-rated Fine Cut Steakhouse redefined dining on the Edge Series and now joins Celebrity Reflection. Guests will experience 30-day dry-aged steaks, fresh seafood, and the elevated service synonymous with Celebrity Cruises.

Set against panoramic ocean views, Bora brings a Mediterranean-inspired rooftop concept to Celebrity Reflection. First introduced in November 2025 on Celebrity Xcel, the venue shifts from day to night. A lively brunch features customizable cocktails, while evenings are centered on chef-led tableside dishes and shareable plates.

Ship-wide enhancements for a new Reflection that's all smiles

Guests of The Retreat, Celebrity Reflection's exclusive suite class, will enjoy an enhanced The Retreat Sundeck with an oversized hot tub, and a redesigned The Retreat Lounge. Ship-wide enhancements extend to returning venues including Café Al Bacio, Cellar Masters, Casino, Art Gallery, World Class Bar, Martini Bar, Pool Bar, Passport Bar, the Fitness Center, and Camp at Sea – alongside Luminae, exclusive to guests of The Retreat, and Blu – exclusive to AquaClass guests.

For more information and to book a sailing with Celebrity Cruises, please visit www.celebritycruises.com, call Celebrity Cruises at 1-888-751-7804, or contact a trusted travel advisor.

Editor's Note:
Media can stay current on all Celebrity Cruises news at www.celebritycruisespresscenter.com 

About Celebrity Cruises
Celebrity Cruises, part of Royal Caribbean Group (NYSE: RCL), delivers an elevated premium vacation experience across their fleet of ocean and river ships traveling to over 300 destinations across more than 70 countries spanning all seven continents. Uniquely offering the intimate feel and thoughtful service of small ships, with the variety and excitement of bigger ones – guests can explore the world or get away from it for a little while. With every detail elevated beyond expectations, guests will never want to vacation any other way. An industry pioneer for more than 35 years, each Celebrity vacation offers experiences you won't find anywhere else.

Visit www.celebritycruises.com for more information, and connect with us on Instagram, Facebook or LinkedIn.

SOURCE Celebrity Cruises

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Hewlett Packard Enterprise (HPE - Free Report) Headquartered in Spring, TX, Hewlett Packard Enterprise Company was formed as a result of the split of Hewlett-Packard Company into two separate entities – one focusing on the enterprise-facing hardware and service business and the other focusing on the consumer-facing computer and printer segments.

HPE is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. HPE has a Growth Style Score of B, forecasting year-over-year earnings growth of 75.8% for the current fiscal year.

For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.00 to $3.41 per share. HPE boasts an average earnings surprise of +16%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HPE should be on investors' short list.

There's a rift between the two best-known carbonated beverage brands. PepsiCo (PEP 3.39%) is relatively out of favor. The beverage and salty snacks giant is trading 17% below its 52-week high and 28% lower than when shares peaked in early 2023.

Rival Coca-Cola is faring considerably better. Coca-Cola hit new highs this week. PepsiCo may be a laggard right now, but don't dismiss it as a potential winning investment. There are a few good reasons to take a chance on PepsiCo this month. Let's check them out.

Image source: Getty Images.

1. PepsiCo's yield is approaching a new high Pepsi stock's recent slide -- and its long streak of boosting its annual distributions -- has the shares trading at a 4.2% yield. It's closing in on last year's historic high. More downticks or another hike in the spring of next year should get it there.

May's 4% increase in its quarterly payouts extends PepsiCo's streak of annual hikes to 54 consecutive years. PepsiCo is royalty, as one of the country's 57 Dividend Kings with more than 50 years of increased distributions. It's one of just six Dividend Kings that are currently yielding more than 4%.

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2. The stock is cheap in a pricey market PepsiCo's guidance calls for meager but positive revenue growth this year, with earnings growing slightly higher. The company behind more than just its namesake soft drinks -- it's also the owner of Frito-Lay, Gatorade, and Quaker Oats -- trades at a discount to the market.

You can buy PepsiCo for just 16 times forward earnings. The beverage stock itself is growing much more slowly than that, but you should expect to pay a premium to collect a yield above 4% in today's market. That current payout is higher than even the top money market funds.

3. Taking a closer look at fresh financials PepsiCo released its latest financial results on Thursday morning. Its fiscal second quarter ended in mid-June, giving the beverage and food conglomerate the distinction of being one of the earliest reporters this critical earnings season. Its performance was a mixed bag.

The reported results seem great at first. Net revenue rose 6.4% for the quarter. Earnings per share more than doubled. Take it a step further, and organic revenue rose 2.4%. Core earnings per share climbed 4%, or just 1% on a constant currency basis. It was a slight beat on the top and a slight miss on the bottom. The stock initially ticked slightly lower ahead of the market open.

A silver lining is that its global organic sales volume through the first half of fiscal 2026 is PepsiCo's highest in four years. It's also not taking its recovery for granted, actively working on "restaging" its four main non-soda brands: Lays, Tostitos, Gatorade, and Quaker. The tweaks involve updating and upgrading the packaging, marketing, and even ingredients to appeal to a wider audience. It's a gamble, but one worth taking to accelerate its slumbering organic and core results. With more than five decades of dividend hikes, investors will continue to be rewarded for their patience in the turnaround process.

Ramon Laguarta sees opportunities in smaller-portion products and teas for mental focus.

PepsiCo Inc (NASDAQ:PEP, XETRA:PEP) shares fell about 4% on Thursday after the food and beverage company reported fiscal second-quarter adjusted earnings that came in slightly below Wall Street expectations, despite revenue topping estimates and the company reaffirming its full-year outlook.

PepsiCo reported adjusted earnings per share of $2.20, compared with analysts' consensus estimate of $2.21.

Net revenue rose 6.4% year over year to $24.18 billion, exceeding expectations of $23.95 billion.

The company said second quarter revenue growth was driven by effective net pricing, organic volume growth, foreign exchange benefits and acquisitions.

International operations continued to support overall performance, with each international segment posting strong net revenue growth. PepsiCo said Asia Pacific Foods, International Beverages Franchise, and Europe, Middle East and Africa benefited from organic volume growth, while Latin America Foods showed sequential improvement in organic volume trends.

In North America, the convenient foods business gained volume market share through innovation and affordability initiatives, although net revenue declined, primarily reflecting lower effective net pricing. The beverages business posted strong net revenue growth, supported by acquisitions completed in 2025 and organic growth.

"Our second quarter results featured strong organic volume and net revenue growth for the global convenient foods and global beverages businesses,” PepsiCo CEO Ramon Laguarta said.

“Year-to-date, PepsiCo's global organic volume has increased at the highest rate since 2022 - aided by the strength of the international business and the continued evolution of the portfolio to offer more choices through portion control varieties, diverse ingredients, functional benefits such as hydration, protein and fiber, energy and zero sugar beverage varieties.”

The company reaffirmed its fiscal 2026 guidance, continuing to expect organic revenue growth of between 2% and 4% and core constant currency EPS growth of between 4% and 6%.

It also maintained its forecast for approximately $8.9 billion in total cash returns to shareholders, including $7.9 billion in dividends and $1.0 billion in share repurchases.

Key Takeaways PepsiCo topped Q2 earnings and revenue estimates as organic revenues rose 2.4% y/y and volumes improved.International organic revenues grew 7%, marking the 21st straight quarter of at least mid-single-digit growth.PEP reaffirmed its 2026 outlook, including 2-4% organic revenue growth and $8.9B in shareholder returns. PepsiCo, Inc. (PEP - Free Report) has reported strong second-quarter 2026 results, wherein revenues and earnings per share (EPS) beat the Zacks Consensus Estimate and improved year over year. Results have reflected organic revenue growth, favorable foreign currency translation, and a net benefit from acquisitions and divestitures.

PEP’s second-quarter core EPS of $2.20 beat the Zacks Consensus Estimate of $2.19 by 0.5% and improved 4% year over year. The company’s core constant-currency EPS increased 1%. Foreign currency aided EPS by 3%. Reported earnings were $2.18 per share versus 92 cents in the year-ago quarter.

Shares of the Zacks Rank #4 (Sell) company have lost 9.1% in the past three months against the industry’s 5% growth.

Image Source: Zacks Investment Research

Peek Into PEP’s Q2 DetailsNet revenues rose 6.4% to $24.18 billion and surpassed the Zacks Consensus Estimate of $23.87 billion by 1.3%. Organic revenues increased 2.4%, with global convenient foods organic volume up 3% and global beverages organic volume up 2%.

PepsiCo’s net revenue growth included a 2.2-percentage-point benefit from foreign exchange translation and a 1.8-percentage-point net benefit from acquisitions and divestitures. Organic revenue growth reflected effective net pricing and a contribution from organic volume growth.

Our model predicted year-over-year organic revenue growth of 2.6% for the second quarter, with a 2.5% gain from the price/mix and a 0.1% rise in volume.

On a consolidated basis, the reported gross profit rose 5.5% year over year to $13.11 billion. The core gross profit increased 4.7% year over year to $13.12 billion. The reported gross margin contracted 50 bps to 54.2%, whereas the core gross margin fell 80 bps year over year to 54.3%, reflecting the continued impacts of cost pressures and business investments.

We anticipated the core gross margin to decline 40 bps year over year to 54.7% in the second quarter. In dollar terms, core gross profit was expected to increase 4.1% year over year.

PepsiCo’s operating profit surged 125% to $4.02 billion in the second quarter of 2026, while core operating profit increased 4% to $4.07 billion. The sharp reported operating profit increase reflected prior-year impairment charges related to the Rockstar and Be & Cheery brands, lower restructuring charges and a favorable net impact of acquisition and divestiture-related charges and credits.

The reported operating margin expanded 875 bps to 16.6%. The core operating margin contracted 40 basis points to 16.8%, as productivity savings and effective net pricing were partly offset by certain operating cost increases.

Our model predicted core SG&A expenses of $8.9 billion, which indicated year-over-year growth of 3.3%. As a percentage of revenues, core SG&A expenses were anticipated to be 37.4%, suggesting a 50-bps decline from the prior-year quarter.

We expected a core operating margin of 17.4%, implying a 20-bps increase from the year-ago quarter’s actual.

PEP’s Segment TrendsPepsiCo Foods North America delivered net revenues of $6.37 billion, down 2% year over year. Organic revenues also declined 2% due to lower effective net pricing. The segment continued to gain volume share in North America, aided by innovation and affordability initiatives. Management noted improvements in household penetration and volume share across the U.S. savory and salty categories.

PepsiCo Beverages North America generated net revenues of $7.24 billion, up 7% year over year. Organic revenues grew 1%, while acquisitions, net of divestitures, contributed 6 percentage points to reported revenue growth. However, the organic volume declined 4%, including a 0.5-percentage-point headwind tied to the case pack water business transition to a third-party partner. Functional hydration and zero-sugar offerings remained bright spots.

International results were the strongest part of the quarter. International organic revenues increased 7%, marking the 21st consecutive quarter of at least mid-single-digit organic revenue growth.

Within the international business, International Beverage (IB) Franchise revenues rose 11% to $1.52 billion, with organic revenues up 9%. The organic volume increased 5% in the segment, which represents more than 60% of global beverage volume. The international convenient foods organic volume increased 4%, which represents 70% of the global convenient foods volume.

Europe, Middle East and Africa revenues increased 10% year over year to $4.98 billion, with organic revenues up 6%. Latin America Foods’ revenues rose 15% to $2.94 billion, while organic revenues increased 4%. Asia Pacific Foods’ revenues advanced 12% to $1.12 billion. Organic revenues grew 9%, supported by a 10% organic volume increase, the strongest volume performance among the reported segments.

Financials of PepsiCo Show StabilityPEP ended second-quarter 2026 with improved liquidity, as cash and cash equivalents of $10.25 billion as of June 13, 2026, increased from $9.16 billion at the end of fiscal 2025. Short-term debt obligations were $10.6 billion, while long-term debt obligations were $42.61 billion.

Net cash provided by operating activities was $2.37 billion as of the end of second-quarter 2026 compared with $996 million in the year-ago period. Capital spending totaled $1.27 billion.

The company paid out cash dividends of $3.91 billion and repurchased $479 million of shares in the first half of 2026.

PEP’s Outlook for 2026PepsiCo has reaffirmed its outlook for 2026. The company expects organic revenue growth of 2-4% and net revenue growth of 4-6% on a reported basis.

Core constant-currency EPS is anticipated to increase 4-6%, with core EPS growth of 5-7%. Based on current rates, foreign exchange translation is expected to provide a 1-percentage-point benefit to reported net revenue and core earnings growth. Acquisitions, net of divestitures, are expected to contribute 1 percentage point to reported revenue growth. The company expects a core effective tax rate of 22% for 2026.

The company expects capital spending to remain below 5% of net revenues, while targeting a free cash flow conversion ratio of at least 80%.

PEP has been committed to rewarding its shareholders through dividends and share buybacks. It expects to return total cash of $8.9 billion to shareholders in 2026, including $7.9 billion in dividends and $1 billion in share repurchases.

Don’t Miss These Better-Ranked StocksFomento Economico Mexicano S.A.B. de C.V. (FMX - Free Report) , alias FEMSA, is a leading Latin American consumer company with operations spanning retail, beverage bottling and logistics, serving millions of customers across multiple markets. The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FEMSA’s 2026 sales and earnings implies growth of 17.3% and 131%, respectively, from the previous year’s reported numbers. FMX delivered a trailing four-quarter negative earnings surprise of 17%, on average.

The Coca-Cola Company (KO - Free Report) is the world's largest non-alcoholic beverage company, marketing a broad portfolio of sparkling soft drinks, water, juice, coffee, tea and sports beverages. It currently carries a Zacks Rank #2 (Buy).

The Zacks Consensus Estimate for Coca-Cola’s 2026 sales and earnings indicates growth of 3% and 8.7%, respectively, from the prior-year reported levels. KO delivered a trailing four-quarter earnings surprise of 4.5%, on average.

Ambev S.A. (ABEV - Free Report) is a leading beverage company in Latin America, producing, distributing and selling beer, soft drinks and other non-alcoholic beverages across multiple markets in the region. It carries a Zacks Rank #2 at present.

The Zacks Consensus Estimate for Ambev’s 2026 sales and earnings implies increases of 16.7% and 16.6%, respectively, from the prior-year reported levels.

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining over 150 points on Thursday.

The Dow traded up 0.32% to 52,513.93 while the NASDAQ rose 0.84% to 26,088.28. The S&P 500 also rose, gaining, 0.60% to 7,527.54.

Leading and Lagging Sectors

Information technology shares jumped by 1.3% on Thursday.

In trading on Thursday, communication services stocks fell by 1.7%.

Top Headline

PepsiCo, Inc. (NASDAQ:PEP) shares fell around 5% on Thursday after the company reported second-quarter results Thursday that topped revenue expectations but fell just short on adjusted earnings.

Net revenue rose 6.4% year over year to $24.18 billion, beating the $23.96 billion analyst estimate. Core EPS increased 4% to $2.20, missing the $2.21 estimate, while GAAP EPS rose 137% to $2.18.

Equities Trading UP
           

Equities Trading DOWN

Commodities

In commodity news, oil traded down 0.9% to $72.87 while gold traded up 1.3% at $4,135.80.

Silver traded up 3.6% to $60.670 on Thursday, while copper rose 2.6% to $6.2630.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.7%, while Spain’s IBEX 35 Index rose 1%. London’s FTSE 100 fell 0.4%, Germany’s DAX gained 0.5%, while France’s CAC 40 gained 0.7%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 1.38%, Hong Kong’s Hang Seng index falling 0.70%, China’s Shanghai Composite rising 1.65% and India’s BSE Sensex gaining 0.31%.

Economics

U.S. initial jobless claims declined by 2,000 to 215,000 in the week to July 4, compared to market estimates of 218,000.

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Key Takeaways Datadog targets higher 2026 revenues as AI launches, customer growth and FedRAMP High expand opportunities.Alphabet highlighted AI, cloud backlog, infrastructure investment and Waymo growth in its 2026 outlook.Shopify and Paylocity advanced AI, platform expansion and capital returns alongside 2026 growth guidance. Internet stocks in the United States, including Datadog (DDOG - Free Report) , Alphabet (GOOGL - Free Report) , Shopify (SHOP - Free Report) and Paylocity Holding (PCTY - Free Report) , look set for a constructive second half of 2026, as enterprises move agentic AI from pilot projects into daily operations across the Internet economy. Gartner forecasts worldwide spending on AI platforms and services to reach $2.52 trillion in 2026, a 44% jump from last year, and that wave of budget is flowing directly into Internet-native cloud application vendors, search platforms and customer-experience software makers, giving Internet companies a direct line to fresh enterprise dollars rather than leaving the gains to chipmakers.

Cloud reacceleration is the clearest boost for Internet stocks. Azure, AWS and Google Cloud have posted growth rates north of 25% this year, and rising backlog figures across these Internet platforms suggest AI workloads are finally converting from commitments into billed revenues.

Internet software leaders like Salesforce and ServiceNow are layering autonomous AI agents onto existing subscription products, a shift Grand View Research values within a broader agentic AI market projected to grow from $7.6 billion in 2025 to $10.9 billion in 2026. That trajectory should lift Internet stock valuations by supporting premium subscription pricing and stickier renewals.

Internet infrastructure and security names stand to benefit too, as traffic-based businesses sitting close to the Internet's core plumbing see early signs that agentic AI usage, not just human browsing, is becoming a meaningful new demand driver for their networks.

Digital advertising is another quiet lift for Internet stocks, with AI-driven ad tools now used by a growing share of major advertisers, expanding monetizable Internet surface area for search and social platforms without requiring new inventory.

Risks remain around capex scrutiny and valuation resets after a volatile first half, but broadening AI adoption across the Internet stack leaves these stocks tied to productivity, commerce and cloud well placed to close 2026 on firmer footing.

Our PicksHere, we have selected four tech stocks that are well-poised to grow in the rest of 2026, driven by their strong fundamentals. These stocks also have the favorable combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Per Zacks’ proprietary methodology, stocks with such a favorable combination offer solid investment opportunities.

Year-to-Date Performance
Image Source: Zacks Investment Research

Datadog's near-term outlook appears constructive, supported by a deepening competitive moat and accelerating product innovation. Company guidance targets full-year 2026 revenues of $4.30-$4.34 billion, reflecting sustained enterprise demand for cloud-native observability and security. As of first-quarter 2026, approximately 4,550 customers carried $100,000-plus ARR, up 21% year over year, evidencing robust platform adoption and customer wallet expansion. At DASH in June 2026, Datadog launched 100+ new capabilities, headlined by a fully autonomous Bits AI suite — independently detecting, investigating and remediating production issues — alongside AI Guard for agentic security. The late-June acquisition of Adaptive ML, a pioneer in Reinforcement Learning Operations, expands its proprietary AI research program. A newly achieved FedRAMP High certification further unlocks the federal government as an additional meaningful revenue opportunity.

This Zacks Rank #1 stock has a Growth Score of B. The Zacks Consensus Estimate for 2026 earnings has moved upward by 2.1% to $2.41 per share over the past 60 days.

Alphabet is entering an accelerated AI monetization phase with compelling near-term fundamentals. At Google I/O in May 2026, the company unveiled Gemini 3.5 and Gemini Omni, marking a decisive shift to agentic workflows, with over 8.5 million developers building on its models monthly. Google Cloud's backlog stood at over $460 billion, with approximately 50% convertible to revenues within 24 months. In June 2026, Alphabet upsized its equity raise to $84.75 billion — including a $10 billion Berkshire Hathaway placement — earmarked for AI infrastructure. Management guided 2026 capex at $180-$190 billion to meet unprecedented, growing customer demand. Waymo surpassed 500,000 autonomous rides weekly, while management guided a positive FX tailwind for second-quarter 2026. These fundamental factors position Alphabet constructively for near-term upside.

This Zacks Rank #2 stock has a Growth Score of B. The Zacks Consensus Estimate for 2026 earnings has moved north by 0.2% to $14.32 per share over the past 60 days.

Shopify presents a compelling near-term opportunity anchored in durable fundamentals and strategic momentum. The company's second-quarter 2026 guidance calls for high-twenties revenue growth and mid-teens free cash flow margins, reflecting broad-based platform strength across geographies, merchant sizes and channels. The Spring '26 Edition, unveiled June 2026, introduced 150+ platform updates, including the Shopify Catalog API, Universal Commerce Protocol and agentic storefronts, positioning Shopify as the infrastructure layer for AI-driven commerce. Monthly Recurring Revenue reached $212 million through expanding merchant solutions. In June 2026, the board raised its share repurchase authorization to an aggregate of $5 billion, signaling confidence in cash generation. A consistent 15% free cash flow margin reinforces Shopify's ability to invest in growth while returning capital to shareholders.

This Zacks Rank #2 stock has a Growth Score of B. The Zacks Consensus Estimate for 2026 earnings has moved up by 1.7% to $1.83 per share over the past 60 days.

Paylocity's expanding platform strategy positions it well for near-term growth. The June 2026 launch of Paylocity Retirement, embedding Vestwell's technology directly into its HCM suite, deepens the platform's stickiness and broadens its addressable revenue per client. The April 2026 acquisition of Grayscale Labs further strengthens AI-powered recruiting capabilities, augmenting a product suite already spanning HCM, Finance and IT. The April launch of Elevate Solutions — combining the unified platform with dedicated operational HR and payroll expertise — addresses scalability needs across its roughly 42,000 clients. Updated 2026 guidance anticipates fourth-quarter recurring revenue growth of approximately 9-10% year over year, underpinned by a trailing free cash flow margin of 24.4% and a board-approved $1.35 billion share repurchase authorization, signaling durable financial confidence.

This Zacks Rank #2 stock has a Growth Score of B. The Zacks Consensus Estimate for 2026 earnings has increased 1.8% to $8.09 per share over the past 60 days.

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Technology

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The clearest sign that quantum computing has breached the cultural mainstream is that even professional basketball players are taking notice.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Phillips 66 (PSX - Free Report) Based in Houston, TX, Phillips 66 is a diversified and integrated energy company established following the 2012 spin-off of ConocoPhillips' downstream operations. As one of the world's leading refiners, Phillips 66 operates 13 refineries, primarily in the United States, with a total refining capacity of about 2.2 million barrels per day.

PSX is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Oils-Energy stock. PSX has a Momentum Style Score of A, and shares are up 3.4% over the past four weeks.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.91 to $19.27 per share. PSX boasts an average earnings surprise of +67.8%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PSX should be on investors' short list.

Salesforce Inc. CRM shares fell 2.5% on Thursday after KeyBanc downgraded the software company, citing concerns that its Agentforce artificial intelligence platform may take longer than expected to become a meaningful growth driver.

The downgrade came despite Salesforce's strong position in enterprise software and follows the company's better-than-expected fiscal first-quarter results reported in late May.

Investors have remained focused on whether the company's AI investments can translate into sustained revenue growth as competition in enterprise artificial intelligence intensifies.

KeyBanc downgraded Salesforce to Sector Weight from Overweight on Thursday, with analyst Jackson Ader pointing to customer feedback and channel checks that suggest Agentforce adoption remains in its early stages.

According to the brokerage, Salesforce continues to benefit from its position as an incumbent platform provider, but evidence indicates that meaningful growth acceleration from Agentforce is further away than previously expected.

The firm said it attends more Salesforce partner and customer events than any other company in its coverage universe.

Customer feedback has been consistent in two areas, according to KeyBanc.

Customers' data is not yet organized to support meaningful AI work, while Agentforce itself is still not ready for broad deployment.

The brokerage added that implementation partners are only now beginning to convert Agentforce proof-of-concept projects into pipeline deals.

KeyBanc also said its survey found that more chief information officers expect to deprioritize Salesforce within their IT budgets over the next 12 months than prioritize it.

The brokerage further noted that it has struggled to find evidence in Salesforce's financial disclosures showing that net-new annual contract value is growing faster than overall annual contract value growth, despite management's comments.

"What we can piece together in the disclosed numbers does not signal building momentum," Ader said.

Ader also acknowledged the timing of the downgrade saying it could be at a poor time.

"But at some point, we have to ask ourselves, why gather the evidence if we’re not going to use it," he added.

AI growth remains under scrutinyThe downgrade comes after Salesforce reported stronger-than-expected fiscal first-quarter earnings in late May, supported by demand for its AI-powered products, including Agentforce.

The company said it closed 98 deals worth more than $1 million in annual contract value during the quarter.

Publicly disclosed Agentforce customers include PepsiCo, Falabella and Singapore Airlines.

However, Salesforce's second-quarter revenue guidance came in slightly below Wall Street expectations, raising concerns that rapidly advancing AI products from rivals such as OpenAI and Anthropic continue to pressure demand for enterprise software.

KeyBanc noted that it had previously pushed back against negative sentiment surrounding software-as-a-service companies, highlighting the advantages that incumbent platforms such as Salesforce possess.

However, the firm's latest customer checks prompted it to revise its view.

On Wednesday, Salesforce announced that the US Air Force 441st Vehicle Support Chain Operations Squadron (VSCOS) had begun using the company's Missionforce National Security platform to manage a fleet of more than 84,000 vehicles across nearly 389 locations.

Despite Thursday's decline, Wall Street sentiment remains broadly positive.

More than 70% of analysts covering Salesforce rate the stock a Buy, with an average price target of $241.08, implying roughly 45% upside from Wednesday's closing price of $166.58.

Still, Salesforce has struggled this year. The stock has fallen 35% in 2026.

Wall Street expects a year-over-year decline in earnings on higher revenues when Commerce Bancshares (CBSH - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 16. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis bank holding company is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of -8.8%.

Revenues are expected to be $488.01 million, up 9.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.95% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Commerce?For Commerce, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.37%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Commerce will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Commerce would post earnings of $0.94 per share when it actually produced earnings of $0.96, delivering a surprise of +2.13%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Commerce appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Oracle Corporation (NYSE:ORCL) is climbing higher on Thursday, although shares have dropped by more then 40% since the beginning of June.

But there is a chance it rebounds from here. It is oversold and at a support level. These can be bullish dynamics. This is why Oracle is the Stock of the Day.

Support is a price level where there is a large amount of demand for a stock.

If a stock is in a downtrend, it’s because there are more shares for sale than there are to be bought. This forces the investors and traders who want to sell to undercut each other to attract buyers.

The dynamic changes when they reach a support level. There are enough buy orders to absorb all of the sell orders. This is why downtrends end when they reach support.

Sometimes stocks rally after they reach support.

This happens when some of the investors and traders who created the support become anxious and impatient. They know that the sellers will go to whoever is willing to pay the highest price.

So they increase their bid prices. Other impatient and anxious buyers see this, and they do the same thing.

This can result in a bidding war or snowball effect that drives the price higher.

As you can see on the chart, the $137 level is support for Oracle. It has been support since February.

Oracle is also oversold. This means aggressive and emotional sellers have pushed it below its normal trading range.

This can draw buyers into the market. They will be anticipating a reversion to the mean or move higher. Their buying could push the price up

The combination of being oversold while at support can set the stage for a rally. There is a chance Oracle moves higher from here.

ORCL Price Action: Oracle shares were up 5.71% at $148.51 at the time of publication on Thursday, according to Benzinga Pro data.

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In its upcoming report, Wells Fargo (WFC - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.74 per share, reflecting an increase of 13% compared to the same period last year. Revenues are forecasted to be $21.8 billion, representing a year-over-year increase of 4.7%.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

That said, let's delve into the average estimates of some Wells Fargo metrics that Wall Street analysts commonly model and monitor.

Analysts forecast 'Book value per common share' to reach $53.96 . The estimate is in contrast to the year-ago figure of $51.13 .

The consensus estimate for 'Average Balance - Total interest-earning assets' stands at $2040.00 billion. Compared to the current estimate, the company reported $1762.16 billion in the same quarter of the previous year.

Analysts expect 'Return on equity (ROE) - Financial Ratios' to come in at 13.0%. The estimate is in contrast to the year-ago figure of 12.8%.

Analysts' assessment points toward 'Efficiency Ratio' reaching 63.1%. Compared to the present estimate, the company reported 64.0% in the same quarter last year.

It is projected by analysts that the 'Common Equity Tier 1 (CET1) - Standardized Approach' will reach 10.1%. Compared to the present estimate, the company reported 11.1% in the same quarter last year.

According to the collective judgment of analysts, 'Total nonperforming assets' should come in at $8.99 billion. Compared to the present estimate, the company reported $7.96 billion in the same quarter last year.

The average prediction of analysts places 'Tier 1 Leverage Ratio' at 6.9%. The estimate compares to the year-ago value of 8.0%.

The combined assessment of analysts suggests that 'Total nonaccrual loans' will likely reach $8.69 billion. Compared to the current estimate, the company reported $7.76 billion in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Net loan charge-offs' of $1.15 billion. Compared to the present estimate, the company reported $997.00 million in the same quarter last year.

Analysts predict that the 'Tier 1 Capital Ratio - Standardized Approach' will reach 11.2%. The estimate is in contrast to the year-ago figure of 12.4%.

Based on the collective assessment of analysts, 'Net interest income (on a taxable-equivalent basis)' should arrive at $12.44 billion. Compared to the present estimate, the company reported $11.79 billion in the same quarter last year.

The consensus among analysts is that 'Total Noninterest Income' will reach $9.47 billion. The estimate compares to the year-ago value of $9.11 billion.

View all Key Company Metrics for Wells Fargo here>>>

Over the past month, Wells Fargo shares have recorded returns of +4.4% versus the Zacks S&P 500 composite's +1.1% change. Based on its Zacks Rank #3 (Hold), WFC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Key Takeaways Bank of America is benefiting from accelerating NII, a rebound in IB and trading, and digital expansion.Wells Fargo is poised to benefit from the removal of the asset cap.While WFC trades at a lower valuation, BAC offers a superior recent stock performance. As the second-quarter 2026 earnings season approaches, investors are turning their attention to the banking sector, wherein resilient credit quality, evolving interest-rate expectations and improving capital markets activity are shaping the outlook. Among the large-cap banks, Bank of America (BAC - Free Report) and Wells Fargo (WFC - Free Report) stand out as two compelling investment candidates, each offering distinct strengths and catalysts.

BAC is leveraging its industry-leading deposit franchise, diversified revenue streams and growing net interest income (NII) to navigate the current operating environment. Wells Fargo, meanwhile, continues to benefit from disciplined expense management, balance sheet optimization and operational improvements following years of restructuring.

With both banks set to report earnings on July 14, investors face an important question: which among BAC and WFC offers the more compelling investment opportunity ahead of the release? A closer comparison of their fundamentals, growth catalysts, valuation and near-term outlook may help identify the better bet.

The Case for BACBeing the second-largest bank in the United States, Bank of America is well-positioned for continued improvement in NII, supported by loan growth, fixed-rate asset repricing and stabilizing funding costs. From 2020 to 2025, the company’s NII saw a compound annual growth rate (CAGR) of 6.7%, with the momentum continuing in the first quarter of 2026. Management expects fully taxable-equivalent NII to increase in the upper end of 6-8% this year.

BAC’s investment banking (IB) business has shown a meaningful recovery after weak 2022 and 2023, when IB fees in the Global Banking segment declined 45.7% and 2.4%, respectively. The business rebounded in 2024 and 2025, with fees rising 31.4% and 8.4%, respectively. With global merger and acquisition activity improving and the company maintaining a healthy deal pipeline, BAC is expected to continue benefiting from solid growth in IB fees.

The company’s trading business has also improved since 2022. In the first quarter of 2026, sales and trading revenues, excluding net DVA, rose 12% year over year. Management expects trading revenues in the second quarter to increase 15% year over year, driven by higher client activity and market volatility. However, given the volatile nature of capital markets, trading revenues can fluctuate significantly and may create earnings variability even when overall performance remains favorable.

Bank of America continues to focus on organic growth by expanding both physical and digital presence. This strategy is aimed at strengthening customer relationships, entering new markets and supporting long-term NII growth. By 2027, the company plans to open more than 150 financial centers. At the same time, the increased adoption of digital tools such as Zelle and its AI-powered assistant Erica is helping BAC boost customer engagement and cross-sell products, including mortgages, auto loans and credit cards. The company's plan to launch a cross-border real-time payments solution is expected to support high-volume, low-value international payments.

The Case for WFCWells Fargo has been moving to expand across multiple business lines now that the Fed has lifted the asset cap that limited its growth since 2018. With this, the company can boost deposits, grow its loan portfolio and broaden its securities holdings, efforts that will help in an increase in NII, going forward. Management expects NII to be $50 billion in 2026, driven by balance-sheet growth, a favorable loan and deposit mix, and continued fixed-asset repricing.

Due to elevated funding costs, WFC’s revenues have witnessed a negative CAGR of 0.3% over the last six years (2019-2025). However, the trend reversed in the first quarter of 2026, when revenues rose 6.4% year over year, driven by a rise in NII and fee income. As the bank intends to expand fee-generating businesses like payment services, asset management and mortgage origination, its top-line mix is expected to improve in the quarters ahead.

Wells Fargo is adopting a more balanced approach to its operations. While the bank is reducing headcount and streamlining processes, it is investing in its branch network and digital upgrades. This will allow the bank to maintain a focus on cost management.

Wells Fargo has been taking a strategic approach to its branch network, reducing its total branches 1.5% year over year to 4,093 by the end of the first quarter of 2026. At the same time, it continues to invest and optimize its branch network to reduce costs. In 2025, the company refurbished approximately 700 branches, with more than half of its branch network now upgraded and the remaining branches expected to be completed over the next few years.

BAC & WFC: Price Performance, Valuation & Other ComparisonsOver the past six months, BAC shares have gained 4.5%, while shares of Wells Fargo have lost 11%. Hence, in terms of price performance, Bank of America has a clear edge over WFC.

6-Month Price Performance
Image Source: Zacks Investment Research

In terms of valuation, Bank of America is currently trading at a 12-month forward price-to-earnings (P/E) of 12.45X. In contrast, Wells Fargo is trading at a 12-month forward P/E of 11.73X.

Therefore, WFC is currently trading at a discount compared with BAC.

P/E F12M
Image Source: Zacks Investment Research

Bank of America’s return on equity (ROE) of 11.49% is lower than WFC’s 13.28%. This reflects WFC’s relatively more efficient use of shareholder funds in generating profits.

ROE
Image Source: Zacks Investment Research

How Do Earnings Estimates Compare for BAC & WFC?The Zacks Consensus Estimate for BAC's 2026 and 2027 earnings indicates 17.9% and 14.3% year-over-year growth, respectively. In the past 30 days, earnings estimates for both years have been revised higher.

BAC Estimate Revision Trend
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for WFC’s 2026 and 2027 earnings indicates rallies of 11% and 12.9%, respectively. Earnings estimates for both years have been revised higher in the past 30 days.

WFC Estimate Revision Trend
Image Source: Zacks Investment Research

BAC or WFC: Which is the Better Investment Option Now?Both Bank of America and Wells Fargo are well-positioned to benefit from an improving operating backdrop, marked by stabilizing funding costs, resilient credit quality and a gradual recovery in capital markets activity.

Wells Fargo’s post-asset-cap growth opportunity and attractive valuation make it an appealing long-term turnaround story. However, the bank is still in the process of rebuilding its revenue mix and expanding its balance sheet.

Bank of America, conversely, appears better-positioned heading into the second-quarter earnings release as it continues to benefit from one of the industry’s strongest deposit franchises, accelerating NII growth, a sustained recovery in IB, solid trading momentum and ongoing digital initiatives. These strengths are complemented by stronger expected earnings growth for both 2026 and 2027, upward estimate revisions, and a better recent stock performance.

Currently, both WFC and BAC carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stani Kulechov, the founder and CEO of Aave Labs, is scheduled to appear live on The Block’s “The Starting Block” show today at 8:30 a.m. ET, promising what’s being billed as an exclusive announcement.

Aave has had quite the 2026 so far. The protocol recently launched V4 on Ethereum mainnet, weathered one of the largest withdrawal events in DeFi history, and set an ambitious target of $1 billion in real-world asset deposits.

A turbulent year sets the stage The protocol faced an $8.45 billion withdrawal event earlier this year, triggered by a security exploit. Aave survived it, which is either a testament to its architectural resilience or a sobering reminder of how much capital is at stake in decentralized lending markets.

Kulechov has leaned into the narrative that the crisis actually proved the protocol’s strength. In his framing, Aave’s ability to manage that level of market volatility without collapsing demonstrates exactly the kind of robustness that institutional players need to see before committing serious capital to DeFi.

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The launch of Aave V4 on Ethereum mainnet followed that recovery period, and Kulechov has described it as the beginning of a “new chapter” for the protocol.

The real-world asset play Aave has set a target of $1 billion in RWA deposits as part of its 2026 roadmap, essentially positioning itself as a bridge between decentralized finance and traditional finance.

Governance evolution and the AAVE token The Aave DAO has been the subject of ongoing conversations about streamlined execution and enhanced decision-making. Kulechov has focused on reducing friction in governance processes without sacrificing decentralization.

The AAVE token sits at the center of these discussions. As both a governance instrument and a value capture mechanism, the token’s utility is directly tied to how well the protocol executes on its roadmap.

Kulechov has historically been deliberate about timing his public appearances to coincide with meaningful protocol milestones. His last major public statements focused on V4’s launch and the protocol’s post-crisis recovery.

What this means for investors The $8.45 billion withdrawal event earlier this year is paradoxically both Aave’s biggest vulnerability and its strongest selling point. The fact that the protocol experienced a crisis of that magnitude and came out the other side functional gives it a battle-tested credibility that newer competitors simply don’t have.

Setting a $1 billion RWA deposit target requires navigating regulatory frameworks across multiple jurisdictions, building trust with traditional finance gatekeepers, and maintaining technical security. One more exploit of the kind seen earlier this year could permanently damage the institutional trust Aave is working to build.

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

Crypto-related stocks in U.S. markets continued their rally during trading hours, with MARA surging 15.27%.

According to market data from BIT (bit.com), US-listed crypto-related stocks continued to strengthen during intraday trading. Details: Strategy (MSTR) rose 2.11%; Circle (CRCL) gained 0.83%; MARA Holdings (MARA) surged 15.27% after announcing the acquisition of a Texas-based 2000MW computing power park project company for up to $600 million; Riot Platforms (RIOT) climbed 6.1%.

15 minutes ago

JPMorgan: The biggest risk for Bitcoin is not Strategy’s sell-off, but blockchain adoption that bypasses public chains and tokens.

JPMorgan Chase’s analyst team noted that the market views Strategy’s Bitcoin sale plan as a key risk for the crypto sector, but it is not a major structural threat to Bitcoin. The more fundamental risk lies in tokenization, payments, and settlements increasingly taking place on permissioned infrastructure that does not rely on public blockchains. If this trend continues, the entire crypto ecosystem could face a "structural downgrade"—marked by slower transaction activity, reduced liquidity, and weaker capital inflows—ultimately weighing on Bitcoin. The analysts stated bluntly: "In our view, a more significant risk stems from the way blockchain is adopted in traditional finance, which continues to bypass public, permissionless networks." The analysts explained that institutional adoption so far has clearly favored permissioned chains, as they offer advantages in privacy, KYC/AML controls, governance, throughput, legal accountability, and regulatory certainty, posing a competitive threat to public blockchains like Ethereum. If tokenized deposits are widely adopted—especially in non-transferable forms favored by regulators—it could reduce demand for stablecoins in institutional payments and settlements; SWIFT’s blockchain initiative and central bank digital currency (CBDC) projects such as the digital euro and digital renminbi further strengthen regulated alternatives. In the roughly $500 billion tokenized real-world assets market, while Ethereum currently holds a certain share, this likely reflects early-stage experimentation rather than the market’s long-term structure. As institutional adoption grows, issuance, custody, settlement, and lifecycle management will likely be conducted more on private or permissioned infrastructure that meets requirements for identity, confidentiality, and operational resilience, with public blockchains used only for distribution and limited secondary trading.

15 minutes ago

Security Warning: Abnormal on-chain fund flows detected for the CodexField project on BNB Chain.

On-chain investigator Specter has issued a community security alert, warning of potential fund misappropriation risks associated with the CodexField project on BNB Chain. On-chain tracking shows the project has amassed over $85 million in funds. Specter detected abnormal on-chain fund flows yesterday: a wallet bridged 17.3 million USDT from TRON to Ethereum, then swapped the tokens for DAI via Bitget Swap on Polygon. So far, $6.5 million has been transferred out, while the remaining $10.8 million is still in transit. The funds were originally bridged from Ethereum to TRON roughly six months ago, and the source wallet is linked to CodexField’s deposit contract. Below are key addresses for users to verify on their own: EVM: 0xBc606358910b3720d136F0d4Ce12b759C270747a TRON: TQNTEYadFVVQeobBtctSjurJ5RpfBsTmqh, TAzpg8L1WkkzCxxZk8TYnvaRYahehh52MK Related deposit contract: 0x9E6A75b546B65E7B9D34E2c9aB8Fe224B9aA52AA Additional red flags: The project requires a minimum $100 deposit for participation. Blockchain security tool Blocksec MetaSuites initially labeled the deposit contract as "Fake CodexField", but Specter’s follow-up investigation found the contract is actually operated by the CodexField team itself. The project uses multiple domains and subdomains to collect user deposits, and the team previously shared these domains via official channels. Its fund flow pattern is unusual, deviating from standard fund management practices: the project bridges funds across multiple blockchains, routes them through intermediate wallets, and ultimately sends assets to centralized exchanges. Specter noted that based on on-chain activity, the project warrants high vigilance. It advises all users interacting with CodexField to exercise extreme caution until the team provides a transparent explanation of its fund movements.

15 minutes ago

Post-quantum cryptography management platform QIZ Security closes $17 million seed round.

QIZ Security, a crypto posture and post-quantum cryptography (PQC) management platform, announced the completion of a $17 million seed funding round, led by Bessemer Venture Partners and Merlin Ventures, with participation from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8, and Qino Cyber Capital. The capital will be used to accelerate product R&D and market expansion. QIZ Security was co-founded by Ben Volkow, Lenny Ridel, and Itan Barmes; the team has years of experience in cybersecurity, enterprise services, and post-quantum transformation, with Barmes previously leading Deloitte’s global quantum cybersecurity readiness team. Its platform helps enterprises identify and assess crypto asset risks and implement remediation measures, and is currently applied in industries including finance, telecommunications, healthcare, and critical infrastructure. It has also established partnerships with Cisco, AWS, Google, CrowdStrike, Deloitte, EY, and IBM, among others.

15 minutes ago

Hyperliquid recommends that the U.S. Commodity Futures Trading Commission (CFTC) formally recognize that on-chain protocols are not required to register, and non-custodial wallets do not serve as financial intermediaries.

Hyperliquid Policy Center (HPC) and Phantom have jointly submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) in response to the agency’s request for feedback on whether existing rules keep pace with the evolution of financial technology, proposing to explicitly extend the distinction between "building tools" and "operating regulated businesses" to on-chain markets. The comments note that software engineers have been developing matching engines for regulated futures trading platforms for decades, and the CFTC has never classified them as trading platform operators. However, developers in the digital asset sector have long lacked such clarity, forcing many to opt for offshore development. The current CFTC, led by Chairman Selig, is working to address this gap and carve out room for innovation for fintech firms in digital asset and derivatives markets. The two entities put forward three key recommendations: First, explicitly confirm that merely publishing on-chain protocol software itself does not require registration — a factor often decisive for engineers when choosing where to develop. Second, establish a clear path for the CFTC’s registration bodies to operate regulated functions using on-chain infrastructure, enabling trading platforms and clearinghouses to replace decades-old legacy systems with transparent infrastructure. Third, formalize Phantom’s recent no-action letter into official rules, eliminating the need for self-custody wallet providers to apply for approved exemptions on a case-by-case basis. HPC and Phantom stress that self-custody and transparent on-chain systems can embed investor protection directly into technology, while regulated intermediaries retain responsibility for issues that technology cannot resolve independently. This approach will bring the next generation of financial markets within reach of U.S. consumers.

15 minutes ago

Micron raises its U.S. investment plan to $250 billion, betting on demand for AI memory chips.

Micron Technology plans to increase spending on its new U.S. factory to $250 billion to meet the surging demand for memory chips driven by the global artificial intelligence boom. The move adds $50 billion to Micron’s previously announced $200 billion commitment to expanding domestic U.S. chip manufacturing, covering projects in New York, Idaho, and Virginia. The expenditure is expected to run through 2035, and will help the company achieve its target of producing 40% of its DRAM products in the U.S. within the next decade.

15 minutes ago

Jul 9, 2026, 1:01 p.m.

2 min read

Stani Kulechov, Aave Labs (Olivier Acuna/CoinDesk)Summary

Aave Labs is launching Stable Vaults, a product that lets fintech apps offer yield on stablecoins like USDC, USDT and GHO without users directly interacting with crypto infrastructure.The vaults automatically allocate deposits across approved DeFi lending strategies, handling liquidity, capital allocation and yield distribution so companies can embed savings-like products through a single connection.Aave’s move positions it against rivals such as Morpho, whose vaults already power high-yield stablecoin products at Coinbase and Robinhood.Aave Labs, the organization behind the largest decentralized lending platform Aave AAVE$92.08, is rolling out vaults to help fintech companies offer yield on stablecoins without requiring users to interact directly with crypto rails.

The new Stable Vaults let wallets, exchanges and payment providers embed stablecoin earning through a single connection. Behind the scenes, the vaults allocate deposits across approved decentralized finance (DeFi) lending strategies while the customer continues using a familiar app interface.

"Stable Vaults make predictable stablecoin earning simple to plug into any fintech application," Aave founder Stani Kulechov said in a statement.

The move comes as stablecoins has become increasingly part of everyday payments and digital banking. As more fintech firms adopt stablecoins for moving money globally, many are looking for ways to let customers earn a return on idle balances without leaving blockchain rails or navigating crypto-native applications.

Vaults have emerged to fill that role. They are a piece of infrastructure that automatically move users' deposits between lending and yield strategies based on predefined rules, allowing investors to earn returns without actively managing positions or monitoring markets.

Rival crypto lender Morpho has become a key player in this fast-growing market. Coinbase, for example, started to offer in June a high-yield savings vault for USDC stablecoin deposits powered by Morpho and Ethena, and has already surpassed $200 million in assets. Recently, Robinhood also introduced similar product within its app for Global Dollar stablecoins with a vault by Morpho and Maple Finance.

With Stable Vaults, Aave aims to position itself as one of the infrastructure providers for this market. It's designed as open infrastructure, allowing companies to deploy their own vault and determine how it operates. The system manages liquidity, capital allocation and yield distribution automatically, allowing developers to offer savings-like products without building DeFi infrastructure themselves. It supports stablecoins including USDC, USDT and Aave's GHO.

Stable Vaults will also underpin Aave's upcoming savings app, currently in test mode.

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Aave’s V4 discussion is a useful reminder that DeFi’s next cycle will not be won only by bigger yields or louder token narratives. Cost still matters. If users have to think twice before every transaction, the product is not ready for the next wave of adoption.

That is why the gas optimization side of Aave’s roadmap deserves attention. It speaks to the everyday friction that can make even good DeFi products feel too expensive or clunky.

For more details, visit the official Governance platform.

TL;DR Aave Labs has outlined gas optimization work tied to its V4 roadmap.The proposal focuses on making liquidity movement and user interactions cheaper.For DeFi, cost reduction remains one of the clearest ways to improve real usage. Why Gas Costs Still Shape DeFi Aave is one of DeFi’s most established lending protocols, but scale does not remove the need for efficiency. Users still care about how much it costs to borrow, repay, move collateral, or interact across chains.

The V4 roadmap points toward technical changes designed to make those interactions smoother. That includes better handling of liquidity and a more modern architecture for a multi-chain environment.

The Cross-Chain Reality DeFi is no longer confined to one chain or one liquidity venue. Capital moves across Ethereum, layer-2 networks, and alternative ecosystems. That creates opportunities, but it also creates fragmentation and cost overhead.

Aave’s challenge is to make that environment feel less fragmented for users. Gas optimization is part of that, because even small cost savings can matter when activity scales.

Why This Is A Blue-Chip DeFi Signal The market often treats mature protocols as if they have stopped innovating. Aave’s V4 planning pushes back against that. It shows one of DeFi’s largest names still trying to improve the rails underneath the product.

That is not an instant price catalyst, but it is the kind of infrastructure work that keeps a protocol relevant after the hype fades.

Why Readers Should Care The useful way to read this story is not as a standalone headline about Aave, but as part of the wider pressure building around DeFi coverage this week. Markets have been jumping quickly from one catalyst to the next, so the cleaner value for readers is in separating the actual development from the instant reaction around it. In this case, the source material gives us a concrete event to work from, rather than a loose rumour or a recycled social-media talking point.

That distinction matters because crypto readers are being asked to process a lot at once: ETF flows, regulatory actions, exchange listings, protocol upgrades, wallet movements, and political signals. A story like this is most useful when it helps them understand where Aave v4 fits into that broader map. It does not need to be inflated into a guaranteed price call to be worth covering. It simply needs to explain what changed, who is affected, and why the market is paying attention today.

The caveat is also important. Even clean source-backed developments can be overinterpreted when traders are hunting for a fast narrative. A listing does not automatically create lasting demand, a regulatory update does not immediately settle every legal question, and an on-chain movement does not always translate into a finished sale. The better read is to treat the development as a fresh data point and then watch whether follow-up activity confirms the direction of travel.

For NewsBTC readers, that means keeping the focus on what can actually be verified from the source and avoiding the temptation to turn every update into a sweeping market verdict. The story is strong enough on its own terms: it gives investors and traders another piece of context around DeFi, while leaving room for the next filing, dashboard update, wallet movement, governance vote, or exchange notice to decide whether the angle grows into something bigger.

This article is based on Aave governance materials.

This article was written by the News Desk and edited by Samuel Rae.

The vaults convert Aave's variable lending rates into fixed yields that wallets, exchanges and payment apps can offer their own users.

Aave Labs launched Stable Vaults on Thursday, infrastructure that lets fintechs, wallets, exchanges and payment providers embed fixed-rate stablecoin yield into their own products, the company said in a blog post.

The vaults convert variable onchain lending rates, drawn from Aave V3 and V4 markets or other ERC-4626 strategies, into a fixed rate a business sets for its end users. Aave Labs handles the rebalancing and cross-chain operations in between, according to the blog post.

Already Live in Aave's Own AppStable Vaults are "the smart contract vaults that already power the Aave mobile savings app," per the post, and are now open for any business to build on. Aave, the largest DeFi lending protocol with $12.80 billion in total value locked, said Chainlink Price Feeds and CCIP can support any Stable Vaults deployment and will power its own app's production version.

Aave founder and CEO Stani Kulechov said on X the product offers "fixed yield, cross-chain access, multi-strategy allocation, tier-based rates, and more," and is "now available to businesses looking to offer stablecoin yield to their users."

What Operators ControlBusinesses choose which stablecoins to accept, which yield strategies to use, and what fixed rate to offer each user, according to the blog post. Any yield the underlying strategy earns above the promised rate goes to the vault operator as revenue, letting the product function as an on-chain fixed-income model rather than a pass-through of Aave's floating rates.

Aave cited possible use cases including a neobank embedding savings powered by Aave markets, a payments company earning on idle settlement balances, and a wallet or exchange adding a one-tap earn feature backed by Savings GHO.

The launch follows Aave's October acquisition of Stable Finance and a March proposal for a GHO-based savings product, part of a broader push to bring DeFi yield to mainstream consumer apps.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Let's take a look at what these Wall Street heavyweights have to say about Sony (SONY - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Sony currently has an average brokerage recommendation (ABR) of 1.42, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 12 brokerage firms. An ABR of 1.42 approximates between Strong Buy and Buy.

Of the 12 recommendations that derive the current ABR, nine are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 75% and 8.3% of all recommendations.

Brokerage Recommendation Trends for SONY

Check price target & stock forecast for Sony here>>>

The ABR suggests buying Sony, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is SONY Worth Investing In?In terms of earnings estimate revisions for Sony, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $1.28.

Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Sony. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Sony.