HomeTechnical AnalysisIntraday Analysis 24.07.2026 JPY remains under pressure
USDJPY hits multi-month high
The Japanese yen remains pressured after the pair broke to another fresh high. The bullish bias remains intact even though the pair has hit some resistance.
The bullish mood means that pullbacks have been opportunities for the buy side to stake in. The greenback is testing the next target at 163.30. Another breakout would cement the dollar’s supremacy and pave the way for a rally towards 164.00. On the downside, 162.60 is the first support, with 162.00 a critical bottom.
GBPUSD finds support
Cable was given a boost after the recent downward spiral lifted price action, after finding some support.
A fall below 1.3400 was a sign of profit-taking after bulls struggled to push back, putting a dent in the short-term mood. However, Sterling still has an edge from the intraday chart perspective. A recent bounce to prevent a test at 1.3320 has seen buyers re-enter the market with a slight uptick in bids. The brief support-turned-resistance of 1.3400 is the level to lift before cable can create an uptrend towards 1.3550. UK 100 falls from its peak
The FTSE is left licking its wounds after hitting a heavy rejection to prevent another move higher.
A push towards the previous swing high of 10760 put the bulls on the attack, before retracing. The latest downtick could continue towards 10625, should bears attract more sellers. 10550 is the next level lower should the sell-off continue.
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WisdomTree (NYSE:WT – Get Free Report) is projected to announce its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect the company to post earnings of $0.26 per share and revenue of $170.62 million for the quarter. Interested persons can check the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Friday, July 31, 2026 at 11:00 AM ET.
WisdomTree (NYSE:WT – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $159.50 million for the quarter, compared to analysts’ expectations of $156.96 million. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, analysts expect WisdomTree to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
WisdomTree Price Performance NYSE:WT opened at $19.76 on Friday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 48.20 and a beta of 1.18. WisdomTree has a 52-week low of $10.69 and a 52-week high of $21.23. The stock has a fifty day moving average of $18.66 and a 200 day moving average of $16.94. The company has a debt-to-equity ratio of 2.37, a quick ratio of 4.18 and a current ratio of 4.57.
WisdomTree Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, May 13th. WisdomTree’s dividend payout ratio is currently 29.27%.
Insider Transactions at WisdomTree In other news, COO R Jarrett Lilien sold 30,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $18.99, for a total transaction of $569,700.00. Following the transaction, the chief operating officer directly owned 1,110,245 shares in the company, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Yates sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total value of $270,900.00. Following the transaction, the insider owned 157,499 shares in the company, valued at approximately $2,844,431.94. The trade was a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On WisdomTree A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of WisdomTree by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 11,196,229 shares of the company’s stock valued at $136,482,000 after acquiring an additional 1,521,599 shares during the last quarter. Simcoe Capital Management LLC grew its stake in shares of WisdomTree by 11.3% in the fourth quarter. Simcoe Capital Management LLC now owns 5,253,340 shares of the company’s stock worth $64,038,000 after purchasing an additional 535,015 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in WisdomTree by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,642,042 shares of the company’s stock valued at $44,399,000 after purchasing an additional 61,699 shares during the period. Goldman Sachs Group Inc. increased its holdings in WisdomTree by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,389,653 shares of the company’s stock valued at $41,320,000 after purchasing an additional 1,823,777 shares during the period. Finally, Geode Capital Management LLC increased its holdings in WisdomTree by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,796,512 shares of the company’s stock valued at $34,093,000 after purchasing an additional 26,776 shares during the period. Institutional investors own 78.64% of the company’s stock.
Wall Street Analysts Forecast Growth A number of analysts have recently issued reports on the company. Raymond James Financial began coverage on WisdomTree in a research report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price target for the company. Morgan Stanley upped their price objective on shares of WisdomTree from $18.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Weiss Ratings lowered shares of WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Northland Securities set a $22.00 price target on shares of WisdomTree in a research note on Tuesday, June 2nd. Finally, Oppenheimer increased their price target on shares of WisdomTree from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, WisdomTree currently has a consensus rating of “Moderate Buy” and an average price target of $20.06.
View Our Latest Stock Analysis on WisdomTree
WisdomTree Company Profile (Get Free Report)
WisdomTree Investments, Inc (NYSE: WT) is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.
WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.
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Natural Gas (NG) Price Chart Natural Gas continues trading in a broad consolidation range after a break above $2.95 could not be sustained. Currently, the contract trades at $2.89, below the 50-day moving average ($3.03), an above the 100-day moving average ($2.88), suggesting a neutral medium-term outlook.
First, resistance is at $2.95, followed by $3.03 and $3.09. First, support is at $2.83, with further support at $2.78 and $2.73. RSI is at 41, suggesting weak buying pressure.
A break and close above $2.95 is needed to improve the outlook for the market and open $3.03 and $3.09. This market would remain range-bound. A break below $2.83 would improve selling pressure and support an advance to $2.78.
The FTSE 100 Index was little changed this week as investors assessed the escalating UK-Iran crisis, the ongoing US earnings season, and a series of key UK economic releases. Market participants digested the latest jobs, inflation, and retail sales data for July, all of which could influence the Bank of England's next policy decision.
This article highlights some of the top FTSE 100 stocks to watch next week, including Lloyds Bank, Barclays, NatWest, Unilever, Standard Chartered, GSK, London Stock Exchange Group (LSEG), IAG, British American Tobacco, and AstraZeneca.
Top UK banks have done well this year, with emerging-markets-focused ones like Standard Chartered and HSBC being the best gainers after rising by 15% and 28%, respectively. Lloyds, Barclays, and NatWest have jumped by 13%, 8.3%, and 2%, respectively, this year.
These gains will be put to the test next week as they publish their financial results. Barclays will go first on Tuesday, followed by Standard Chartered on Wednesday. Lloyds and NatWest will release the numbers on Thursday and Friday, respectively.
Expectations are that these banks did well in the last quarter, helped by the elevated interest rates and muted delinquencies. Most of their peers like Goldman Sachs, Unicredit, BNP Paribas, and Morgan Stanley, released strong numbers recently.
Barclays' numbers will be the most watched because of its business model. In addition to operating a retail bank, it is one of the top players in the trading and investment banking industry. As a result, it is benefiting from the ongoing trends in M&A, IPOs, and debt.
These banks will also react to the upcoming Bank of England interest rate decision on Thursday.
British American Tobacco, one of the largest players in the industry, has slipped by nearly 10% from its highest level this year. This retreat accelerated after the company announced that it would lay off 9,000 employees in its pivot towards artificial intelligence tools.
5,500 of these jobs will be direct ones, while 3,500 will be in third-party firms like Accenture. It expects that these layoffs will save it $798 million by 2028.
The most recent trading statement showed that its combustibles business was doing well, led by the United States, Brazil, and Turkey. Velo’s volume rose by 5.7 points, while Vuse continued to gain market share. The upcoming results will provide more information about its performance and what to expect in the second half of the year as the volume of traditional cigarettes drop.
UK pharmaceutical stocks like AstraZeneca and GlaxoSmithKline have underperformed the market this year. AZN dropped by 7.5% this year, and is up by 21% in the last 12 months. GSK has risen by 4.24% this year and 40% in the last 12 months.
These companies will release their numbers next week. AstraZeneca will publish on Monday, while GSK will release its report a day after that. For Astra, these numbers come a few days after the company received a EU approval for its breast cancer drug.
The drug, Etcamah, has already received approvals in the United Arab Emirates (UAE), Japan, and Saudi Arabia, with the company waiting for a US review to conclude.
Still, the company has suffered a major setback as Wainua, a rare disease drug, failed its trial in the third phase of trial. As a result, the company has little room for error as it aims to get to $30 billion in annual sales.
IAG, the parent company of British Airways and Aer Lingus, will be in the spotlight next week as the US-Iran war escalates and as it publishes its numbers. Its stock has plunged by 14% from its highest point this year as the war has pushed jet fuel prices higher. The upcoming numbers on Friday will provide more information on its business and the cost of fuel.
More FTSE 100 companies will publish their numbers next week. This includes popular names like Unilever, Haleon, London Stock Exchange, and Anglo American.
EQT (NYSE:EQT) executives said the company exceeded expectations across key operating and financial measures in the second quarter of 2026, citing stronger production, better price realizations, lower operating costs and reduced capital spending.
Chief Financial Officer Jeremy Knop said EQT generated $330 million of free cash flow attributable to the company during the quarter, despite natural gas prices averaging $2.89 per MMBtu. He said the result reflected EQT’s position “at the low end of the cost curve.”
The company raised its 2026 production guidance by roughly 90 billion cubic feet equivalent at the midpoint while lowering full-year capital expenditure guidance by $25 million. EQT also said it is pulling forward $85 million of capital contributions to equity method investments from 2027 into 2026 to accelerate construction timing for MVP Southgate.
Operational performance drives guidance increase President and Chief Executive Officer Toby Rice said EQT’s operating teams set multiple records during the quarter, including drilling what he described as “the longest lateral in the history of shale development” at more than 29,000 feet. Rice said the well was drilled 100% in-zone with no safety incidents. He also said EQT set a new basin 24-hour drilling record and a new company 48-hour drilling record.
Rice attributed the production outperformance partly to better-than-expected base production, including results from midstream compression projects that are extending flat production periods on new wells and reducing decline rates on older wells. He said those projects were part of the synergies projected when EQT acquired Equitrans and are continuing to exceed even the company’s upside forecasts.
During the question-and-answer session, Rice said compression projects are also benefiting new wells by allowing production into optimal gathering-system pressures. Knop added that EQT is recalibrating its models after the impact from lower pressures exceeded the company’s original expectations.
MVP Southgate construction accelerated Rice said EQT received Federal Energy Regulatory Commission authorization to begin construction activities on MVP Southgate and now has all key regulatory approvals in hand. The company elected to accelerate construction timing into 2026 to reduce execution risk.
Rice said the project will connect low-cost Appalachian natural gas supply with demand growth in the Carolinas, helping utilities meet energy needs and support reliability. He said MVP Southgate and the MVP Boost expansion were not included in EQT’s original Equitrans underwriting case.
In response to an analyst question, Rice said construction should be available by the end of the year, while the company is working on commercial arrangements tied to the accelerated project timeline. He said any benefit to 2027 plans would be upside.
New commercial agreements target power and LNG markets Knop said EQT recently signed a 10-year definitive agreement with Competitive Power Ventures to provide 325 million cubic feet per day of natural gas to a planned two-gigawatt power generation facility in Doddridge County, West Virginia. The facility is expected to enter service in early 2031.
Knop said the CPV contract is linked to PJM power pricing rather than a natural gas index, making it EQT’s second agreement using that structure. At the forward strip, he said EQT expects the agreement to provide a material premium to local index pricing. In response to an analyst question, Knop said that if the contract were online for a full year at full capacity, it would improve annual free cash flow by about $100 million and corporate differentials by $0.05, though actual utilization would be lower.
Knop said EQT can hedge the power-linked exposure but currently views the structure favorably because of the correlation between gas and power prices in PJM and the potential for spark spreads to widen as demand for generation grows.
EQT also updated investors on its LNG strategy. Knop said the company executed a five-year offtake agreement with a large Asian integrated energy company for approximately 500,000 tons per year of LNG beginning in 2028, sourced from Gulf Coast LNG facilities. At recent strip pricing, he said the agreement is expected to increase EQT’s 2028 free cash flow by about $45 million.
Blackline acquisition expands propane optionality Knop discussed EQT’s acquisition of Blackline Midstream for approximately $77 million. Blackline owns and operates two propane storage and distribution terminals in New England, including what Knop described as the largest propane storage facility in the region, with rail and waterborne access.
The assets provide 46 million gallons of storage capacity, and EQT currently supplies about 60% of Blackline’s propane volumes. Knop said the acquisition requires essentially no incremental capital investment and gives EQT additional flexibility for propane production, flow assurance, pricing optimization and commercial activity through domestic and international channels.
Knop said EQT projects a 20% free cash flow yield under its base case underwriting for Blackline, with upside that could roughly double that metric.
Management emphasizes balance sheet, buybacks and Appalachia demand Knop said EQT is close to reaching its long-term net debt target of $5 billion, which he described as a milestone in strengthening the balance sheet. He said the company plans to accumulate cash in the near term and deploy it into share repurchases during industry down cycles.
Asked how much cash EQT might hold, Knop said the company is “not opposed to accumulating at certain points in the cycle up to a few billion dollars of cash,” while adding that the company would look to be more aggressive with buybacks when it sees opportunities.
Management repeatedly highlighted Appalachian demand growth as a central theme. Rice said EQT’s analysis shows more than 45 Appalachian demand and pipeline takeaway projects under construction or in evaluation, representing nearly 20 billion cubic feet per day of potential demand. He said EQT would not grow “for growth’s sake” and would tie any upstream growth to demand supported by commercial agreements.
Knop said EQT internally estimates that high single-digit Bcf per day of growth, or roughly 40% of the identified potential, is realistic after risk-weighting the opportunity set. Executives said projects around the Clarington area in Ohio are a key focus for future pipeline takeaway opportunities.
Rice closed the call by calling the quarter “fantastic” and thanking shareholders and employees, saying the company is excited about its path forward.
About EQT (NYSE:EQT) EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.
In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.
EQT Corporation advances growth with another small acquisition and progress on the Mountain Valley Pipeline expansion. I view the second quarter as a transitional period, with cash flow more indicative of performance than earnings due to noncash hedging impacts. Low storage levels entering summer and increasing export capacity position EQT and the industry for continued strength in natural gas prices.
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This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH) Ethereum moved higher by 3% this week as buyers gained control of the price action since late June. This relief rally started once the support at $1,500 was tested and held.
At the time of this post, ETH is facing some resistance as the price approaches the key psychological level at $2,000. It is likely to bring back sellers and could send the price into a pullback.
Looking ahead, the cryptocurrency remains in a macro downtrend. While this rally is a positive change, sustaining it beyond $2,000 seems a big ask right now. Only if $2,000 turns into support does ETH have a good shot at breaking the prevailing downtrend.
Source: TradingView Ripple (XRP) XRP also managed to book a 3% gain this week as buyers have kept the price well above the key support at $1. The current resistance is at $1.2, and until it is broken, it is unlikely this cryptocurrency can make sustained gains.
With volume declining steadily month-over-month, XRP currently lacks the momentum for a major breakout. Market participants seem to have retreated since the drop in February and have not returned to date.
Looking ahead, the current consolidation above $1 is a positive development. However, it can equally be a pause taken by sellers before they attempt another go at the key support.
Source: TradingView Cardano (ADA) ADA had a positive week, closing 6% higher. This comes after the price made a head and shoulders reversal pattern with the key support around $0.15. As long as that level holds, buyers have the advantage.
Nevertheless, Cardano still has to make clear higher lows and higher highs before we can be confident in a reversal and end to the current macro downtrend. For that to happen, the price will have to move beyond $0.25.
Looking ahead, the weekly momentum indicators such as the MACD are giving a bullish bias. This is a promising sign that sellers could be exhausted here, which may allow buyers to take back control for a longer period.
Source: TradingView Binance Coin (BNB) Binance Coin looks weak throughout the past seven days and made no gains. The price still needs to break the resistance at $580, which has kept buyers in check over the past month. Without a clear breakout, BNB is forced to move sideways or even seek lower levels to find buyers.
The price also saw decreased volatility and volume. This could also be related to the recent regulatory changes that forced EU users to find a new exchange. That is bearish for the BNB price as it lowers demand for the token.
Looking ahead, this cryptocurrency is found in a downtrend with no signs that this will end any time soon. As such, watch the support at $500, which could be tested in the future before buyers return.
Source: TradingView Hype (HYPE) Surprisingly, HYPE was flat this week and lost 5% of its valuation in the past month. This highlights that the uptrend may be over. The price is also under $60 at the time of this post, which is concerning since it may encourage sellers to push even lower.
If this cryptocurrency loses its macro uptrend, then a larger and more significant correction could follow. Right now, the longer the price sits under $60, the higher the chance that HYPE will fall much lower. Key support levels are found at $56 and $52.
Looking ahead, HYPE had a fantastic rally in the first half of 2026, and it seems the second part of the year could end up in a major correction. That may see HYPE revisit previous levels under $50. If so, this can also be a key buying opportunity.
Stellar‘s native token XLM is trading around $0.1808, down 3.62% in the last 24 hours, as it clings to a critical support level amid expanded institutional participation on the network.
Price action remains range-boundDespite a recent decline, buyers have consistently defended the major support zone. The token has traded below the Bollinger Bands’ middle band at $0.1890 after failing to reclaim resistance at $0.1987. The lower Bollinger Band, near $0.1754, continues to act as a safety net, keeping XLM locked within a defined trading corridor.
Trading volume has tapered off since the strong rally seen at the end of May, highlighting waning short-term momentum. The narrowing of the Bollinger Bands on the daily chart signals reduced volatility, which may indicate that the market is consolidating before its next major move.
LevelPriceCurrent price$0.1808Immediate resistance$0.1890Next resistance$0.1987Key support$0.1754The Stellar Development Foundation has announced that MoneyGram, Figue, and Range.org have become Tier 1 validators on the network. The organization is a nonprofit dedicated to the development and expansion of the Stellar blockchain, focusing on global payments and financial access.
These new validators, which include global payment firm MoneyGram and industry partners, will contribute to network security and decentralization efforts. The Foundation is also set to open a discussion about institutions’ roles as active network participants.
By integrating organizations involved in payments and financial infrastructure, Stellar aims to boost its credibility and highlight its commitment to real-world blockchain adoption. Although the news has not triggered a sharp price change, some market participants believe it could reinforce Stellar’s long-term growth prospects.
Mini dictionary: Validator, a participant in blockchain networks responsible for verifying transactions and securing the integrity of the network. Tier 1 validators are typically the most trusted nodes and have a significant role in consensus and network operations.
Recent updates naming MoneyGram, Figue, and Range.org as Tier 1 validators on the Stellar network highlight the project’s ongoing efforts to strengthen security and expand institutional engagement.
Network fundamentals remain intactDespite the recent drop in price, on-chain metrics reveal that active user participation on the Stellar network remains at elevated levels. Data from DefiLlama indicates that user addresses are maintaining activity near recent highs, a sign that the network continues to attract engagement even during price corrections.
Open interest in XLM derivatives, tracked by CoinGlass, has stabilized after retreating from its late-May peak. This suggests that derivatives traders are largely staying in the market and awaiting new catalysts, rather than exiting positions.
The first key resistance for XLM is at $0.1890, followed by $0.1987, while buyers must defend support at $0.1754 to prevent further downside pressure.
Analysts note that a sustained breakout above both resistance levels could spark renewed buying momentum. On the other hand, a breach of the $0.1754 support may lead to increased selling and further market weakness.
For now, consistent on-chain activity, stabilized derivatives positioning, and the addition of institutional validators indicate that Stellar is maintaining a steady foundation. Many market participants appear to be waiting for a decisive signal before taking further action.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key Highlights Second-quarter results showed earnings per share of $0.38 and revenue totaling $16.1 billion, surpassing Wall Street’s expectations of $0.21 EPS and $14.43 billion in sales Third-quarter revenue forecast of $15.8B–$16.8B exceeded analyst projections of $15.06B Data center segment generated $6.3 billion in revenue, beating the $5.54 billion consensus Shares have soared 178% this year following CEO Lip-Bu Tan’s transformation strategy Intel Foundry secured a contract from Google to manufacture 3 million custom Tensor Processing Units Shares of Intel (INTC) surged over 7% during extended trading hours on Thursday following the semiconductor giant’s impressive second-quarter financial results and encouraging third-quarter projections.
Intel Corp., INTC
The company delivered adjusted earnings of $0.38 per share on $16.1 billion in quarterly sales. Analysts had anticipated earnings of $0.21 per share with revenue reaching $14.43 billion. In the same period last year, Intel recorded a loss of $0.10 per share while generating $12.9 billion in revenue.
Year-to-date performance has been exceptional, with Intel shares gaining 178% since January 2026, although they still trade approximately 29% beneath their record closing price of $140.94 achieved on June 22.
For the upcoming third quarter, management forecasted revenue between $15.8 billion and $16.8 billion, significantly exceeding Wall Street’s $15.06 billion projection. The earnings per share outlook of $0.38 also surpassed the analyst consensus of $0.27.
The data center division posted $6.3 billion in sales, outperforming the $5.54 billion estimate. Meanwhile, client computing generated $8.9 billion in revenue, exceeding projections of $7.99 billion.
Intel Foundry reported quarterly revenue of $5.8 billion, representing a 31% year-over-year increase and beating the $5.6 billion forecast.
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” CEO Lip-Bu Tan said.
Chief Financial Officer Dave Zinsner highlighted improved manufacturing yields and accelerated production cycles as critical factors behind the quarter’s outperformance. Management announced plans to substantially expand capital expenditures on equipment, clean room facilities, and substrate materials.
CPU Market Experiences Resurgence The emergence of AI agents has sparked renewed interest in central processing units, as these applications depend on CPUs for executing functions such as database queries and document creation. This shift has provided a significant boost to Intel’s traditional chip operations following an extended period where GPUs dominated the market.
Just days ago, Intel announced workforce reductions within its Data Center Group as part of an organizational realignment. The company stated it is “aligning its organization to ensure it has the right roles and skills in place.”
Manufacturing Division Gains Momentum Intel’s chip fabrication business continues to attract prominent clients. Reports from The Information indicate that Google has contracted Intel to produce 3 million specialized Tensor Processing Units. Additionally, Nvidia is said to be considering Intel as a potential manufacturing partner.
These developments occur as Taiwan Semiconductor Manufacturing (TSM) faces challenges meeting robust demand from Nvidia, AMD, and Apple. Intel appears positioned to capitalize on opportunities as an alternative supplier.
In the consumer segment, escalating memory chip costs are prompting manufacturers to discontinue lower-margin laptop and desktop models while increasing prices on high-end offerings.
Intel earned recognition as a 2026 Barron’s stock selection and has garnered support from the Trump administration alongside receiving investment from Nvidia.
Brown-Forman Corporation (BF.B) Shareholder/Analyst Call July 23, 2026 9:30 AM EDT
Company Participants
Susanne Perram - VP & Director of Investor Relations
Marshall Farrer - Executive Chairman
Michael Carr - Executive Vice President, General Counsel & Secretary
Lawson Whiting - CEO, President & Director
Presentation
Susanne Perram
VP & Director of Investor Relations
Good morning, everyone. We have a packed house today. I see standing room only in the back, really impressive. I am Sue Perram. I'm Director of Investor Relations. I'd like to welcome you to Brown-Forman's 2026 Annual Meeting of Stockholders. So thank you for joining us here in Louisville, a beautiful Churchill Downs. But also welcome to my fellow Brown-Forman colleagues that are joining us virtually from around the globe.
Before handing the meeting over to Marshall, I would like to remind all of you of the code of conduct for today's meeting, which is on the slide behind me, and it can also be found on the meeting website. I also need to make you aware that portions of today's meeting may contain forward-looking statements and certain non-GAAP financial measures as more fully described on the slide behind me. So I don't have to read this to all of you this time. It's also in the appendix of the presentation, which we will be posting later today on our website, www.brown-forman.com.
So with that, we appreciate your interest in and continued support of Brown-Forman. And with that, I would like to turn the stage over to Marshall Farrer, Chairman of the Board.
Marshall Farrer
Executive Chairman
Thank you, Sue, and good morning, everyone. I'm pleased to now call the Brown-Forman 2026 Annual Meeting of Stockholders to order. To start, I would like to acknowledge certain individuals who are with us here today, our Board of Directors, former members of the Board of Directors, and I would ask that
First BanCorp. (NYSE:FBP) reported higher second-quarter 2026 earnings and record pre-tax pre-provision income, with management citing stronger loan growth, expanding net interest income and stable credit trends across the franchise.
The Puerto Rico-based banking company earned $96.1 million, or $0.62 per diluted share, for the quarter, compared with $88 million, or $0.57 per share, in the prior quarter. President and Chief Executive Officer Aurelio Alemán said net income was up 24% from the same quarter last year.
Pre-tax pre-provision income reached an all-time high of $138 million, up 5% from the previous quarter and 11% from a year earlier. Return on average assets was 2.02%, compared with 1.89% in the first quarter. Alemán said it marked the company’s 18th consecutive quarter with ROA above 1.5%.
CFO Said Ortiz said quarterly results included approximately $3.4 million of additional interest income tied to two refinancings, one commercial loan and one municipal bond, which led to accelerated recognition of deferred fees or discounts. Excluding that impact, net income would have been about $93 million, or approximately $0.60 per diluted share.
Loan Growth Accelerates as Commercial Activity Strengthens Total loans reached $13.3 billion, up 5% on a linked-quarter annualized basis. Alemán said growth was driven primarily by commercial activity in Puerto Rico, while consumer portfolios showed better stability than expected.
Total loan originations were $1.7 billion during the quarter, a 21% increase from the prior year. Management said the pipeline supports continued activity through the remainder of 2026 and reaffirmed its full-year loan growth target of 3% to 5%.
During the question-and-answer session, Alemán said commercial originations reflected a mix of activity, including acquisitions, commercial real estate, construction, C&I, warehousing, hotels, healthcare and government-related refinancing. He also noted solid activity in Florida, including from the company’s Boca Raton office opened late last year.
Asked about business momentum in Puerto Rico, Alemán highlighted hospitality as a particularly strong sector, citing positive trends in average daily rates, occupancy and visitors, as well as ongoing hotel projects. He said investor confidence in the island remained strong despite broader political and macroeconomic uncertainty.
Net Interest Income Rises, Margin Guidance Moves Higher Net interest income increased 3.7% from the prior quarter to $229.1 million, compared with $221 million in the first quarter. Ortiz said the increase included the $3.4 million benefit from fee and discount acceleration. Excluding that impact, interest income on loans rose $1.7 million, while interest income on investments and cash increased $4.5 million.
The company continued to reinvest cash flows from maturing securities into higher-yielding instruments. Ortiz said the yield on the investment portfolio increased by 18 basis points, excluding the refinancing-related benefit.
Funding costs were managed lower overall, with total deposit costs declining by two basis points from the previous quarter. The cost of time deposits, excluding brokered deposits and public funds, decreased by eight basis points to 3.26%, while the cost of interest-bearing checking and savings accounts rose by five basis points to 1.26%, driven by higher rates on certain government accounts.
Ortiz said the company’s net interest margin, excluding the accelerated fee and discount recognition, would have been approximately 4.80%, up five basis points from the prior quarter. Management now expects margin expansion of three to five basis points per quarter for the rest of 2026, assuming no rate cuts in the second half of the year.
In response to an analyst question, Ortiz said approximately $400 million of securities are expected to reprice in the second half of 2026 at a current yield of about 1.92%, with about $1.2 billion of repricing expected over the next 18 months.
Deposits Increase, Expenses Stay Near Guidance Total deposits increased by $274 million during the quarter. Alemán said the increase was primarily driven by government deposits, with a slight rise in core customer deposits. He noted that government deposits can be volatile due to reconstruction-related funds moving in and out of accounts, but said liquidity remains solid.
Noninterest income was $35.7 million, down from $37.7 million in the prior quarter, mainly due to seasonal commissions typically received in the first quarter. Operating expenses were relatively flat at $127.3 million. Excluding gains from OREO operations, expenses were $128.2 million, which Ortiz said was at the lower end of guidance.
The efficiency ratio improved to 48.1% from 49.1% in the previous quarter. Management expects quarterly expenses for the remainder of 2026, excluding OREO gains or losses, to range from $128 million to $130 million, reflecting merit increases, business promotions and technology-related project expenses.
Alemán said the company continues to invest in technology, cloud transformation, artificial intelligence and branch expansion. He said AI efforts are focused on automating routine processes, improving customer service and shortening process life cycles.
Credit Trends Remain Stable Despite Higher Early Delinquencies Credit performance remained broadly sound, though early-stage delinquency rose during the quarter. Ortiz said early-stage delinquency increased by approximately $32.9 million from the prior quarter, mainly due to a $20.7 million increase in the auto finance leases portfolio. However, he said early delinquency in the consumer portfolio was still about $10.3 million lower than in December 2025.
Non-performing assets increased by $5.1 million from the previous quarter, primarily due to the inflow of a $14.8 million C&I loan in Florida. Ortiz said the loan is well collateralized. Excluding that relationship, non-performing assets declined by $9.7 million, with reductions in residential mortgages, consumer loans and repossessed autos.
The allowance for credit losses was $245 million, or 1.85% of total loans, relatively flat from the previous quarter. Ortiz said increases tied to loan growth and higher auto finance lease delinquencies were offset by improved macroeconomic projections and better delinquency in unsecured consumer loans.
Alemán said the increase in auto delinquencies appeared seasonal, following a first-quarter improvement attributed to consumer liquidity from tax refunds and other factors. He said delinquency levels were better than in December and in line with prior years.
Capital Remains Strong as Buybacks and Dividends Continue First BanCorp ended the quarter with a Common Equity Tier 1 ratio of 17%. The company completed $50 million of share repurchases and paid a $0.20 per-share dividend during the quarter, according to Alemán.
Ortiz said tangible book value per share rose to $12.68, while the tangible common equity ratio declined three basis points to 10.08% due mainly to growth in tangible assets. He said regulatory capital ratios remained well above required levels, with earnings offsetting capital deployment and risk-weighted asset growth.
Asked about potential M&A, Alemán said the company remains open to opportunities that would be a strategic fit and align with its operating model, but emphasized that organic growth remains the primary focus. He said management continues to evaluate capital deployment options and will provide more detail when it updates its capital plan later in the year.
About First BanCorp. (NYSE:FBP) First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.
In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.
First Financial Bancorp. (NASDAQ:FFBC) reported record adjusted second-quarter earnings and outlined plans to expand further in the Chicago and Northwest Indiana markets through its planned acquisition of Finward Bancorp, executives said on the company’s earnings call.
President and Chief Executive Officer Archie Brown said the quarter was “another active quarter” as the company continued post-integration work related to the Westfield acquisition and completed the systems conversion for BankFinancial. He said operating results were strong, with adjusted net income of $83.9 million, or $0.80 per share.
Brown said adjusted earnings per share increased 8% from the second quarter of 2025, driven by higher earning assets from organic loan growth and recent acquisitions. Adjusted return on assets was 1.5%, while adjusted return on tangible common equity was 19.7%.
Loan Growth and Margin Remained Stable Chief Financial Officer Jamie Anderson said the quarter was highlighted by “strong earnings, 7% loan growth, a solid net interest margin, and positive credit trends.” Net interest margin was 3.98%, down one basis point from the linked quarter. Anderson said deposit costs declined six basis points, while asset yields fell seven basis points due to lower accretion income.
Loan balances rose $240 million, or 7% annualized, with growth across much of the portfolio. Management highlighted commercial and industrial lending, Summit and Agile as key contributors. Brown said loan originations increased 23% from the first quarter and that advanced-stage pipelines remained strong heading into the second half of the year.
Average deposits increased $41 million, which Anderson attributed mainly to a seasonal influx in public funds and growth in interest-bearing demand accounts. He said 21% of total deposit balances remained in non-interest-bearing accounts and that the company remains focused on growing lower-cost deposits.
Fee Income Fell From First Quarter, Expenses Declined Brown said adjusted fee income was below management’s expectations after a strong first quarter, with lower foreign exchange swap income and investment banking fees weighing on non-interest income. However, he said the company expects a rebound in the third quarter.
Anderson said adjusted fee income totaled $72 million, led by leasing and foreign exchange. Other non-interest income increased $3.6 million due to higher income from bank-owned life insurance and limited partnership investments.
Adjusted non-interest expenses declined from the linked quarter, which management attributed to lower commission expense, payroll taxes and acquisition-related synergies. Anderson said core expenses decreased $5.7 million, driven by lower compensation costs tied to lower fee income.
Brown said virtually all expected Westfield cost reductions had been realized by June 30, while BankFinancial-related savings are expected to phase in during the third quarter, with full savings anticipated by quarter-end.
Credit Trends Improved and Capital Levels Rose Asset quality trends were positive in the quarter. Net charge-offs declined 15 basis points to 0.20% of total loans on an annualized basis. Anderson said net charge-offs were down 42% from the first quarter, while non-performing assets and classified assets also declined.
The allowance for credit losses increased two basis points to 1.38% of total loans. The company recorded $8.2 million of provision expense, driven primarily by loan growth and net charge-offs.
Capital levels remained above internal and regulatory targets. Tangible book value increased to $16.64, and the tangible common equity ratio rose to 8.2%. Anderson said tangible book value now exceeds pre-Westfield and BankFinancial levels.
The company did not repurchase shares during the quarter as it focused on acquisitions and integration work. Anderson said 34% of second-quarter earnings were returned to shareholders through the common dividend, and the board voted to raise the common dividend to $0.26 per share.
Third-Quarter Outlook Calls for Steady Margin For the third quarter, Brown said management expects mid-single-digit annualized loan growth and low single-digit core deposit growth. The company expects net interest margin to remain in a range of 3.96% to 4.01%, assuming no changes in interest rates and purchase accounting accretion in line with the second quarter.
Management expects credit costs to approximate second-quarter levels and allowance coverage to remain relatively stable as a percentage of loans. Brown said net charge-offs are expected to approximate 25 to 30 basis points in the back half of the year.
The company projected total fee income of $74 million to $77 million in the third quarter, including $15 million to $17 million from foreign exchange and $22 million to $24 million from leasing business revenue. Non-interest expenses are expected to range from $149 million to $152 million.
Finward Deal Expands Chicago and Northwest Indiana Presence First Financial also discussed its agreement to acquire Finward Bancorp, the holding company for Peoples Bank. Finward is headquartered in Munster, Indiana, and has 24 banking locations. Brown said the transaction is expected to expand First Financial’s ability to serve consumers and businesses in the Chicagoland and Northwest Indiana markets.
Finward has approximately $2 billion in assets, $1.7 billion in deposits, $1.5 billion in loans and $412 million in wealth assets under management. Under the agreement, each outstanding Finward common share will be converted into the right to receive 1.35 shares of First Financial common stock. Brown said the transaction was valued at approximately $208 million based on First Financial’s July 20 closing price.
Brown said the deal is expected to be approximately 5% accretive to First Financial’s earnings per share, with tangible book value per share at closing estimated to be only slightly diluted and an anticipated earn-back period of just over half a year.
Including the BankFinancial acquisition, Brown said First Financial will have added $2.9 billion in lower-cost deposits to its Northwest Indiana operations and will have $4.1 billion in deposits in Chicago and Northwest Indiana. The combined branch network in the region is expected to exceed 40 offices.
During the question-and-answer session, Brown said the company does not expect to be on the sidelines for M&A permanently, but said management does not see anything in the near to intermediate term beyond closing and integrating Finward. He said the acquisition is strategic and incremental relative to First Financial’s size.
Anderson said First Financial expects to close the Finward transaction around year-end, with conversion anticipated sometime in the second quarter of next year. He said cost savings would likely phase in after conversion, with the first full quarter of all expected savings likely in the fourth quarter of next year.
Brown said First Financial is also committing $500,000 to its foundation for the benefit of organizations in communities served by Finward, in addition to the $1 million donation made when the company entered the Chicago market through BankFinancial.
About First Financial Bancorp. (NASDAQ:FFBC) First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.
First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.
Bank OZK (NASDAQ:OZK) executives used the company’s second-quarter 2026 earnings call to emphasize the bank’s ongoing shift toward a more diversified loan portfolio, with rapid growth in corporate and institutional banking helping offset elevated repayments in its real estate specialties group.
Chairman and CEO George Gleason said the corporate and institutional banking, or CIB, business is “a very important and rapidly growing and developing part” of the franchise. He said the bank is investing in the unit and hiring experienced leadership as it seeks to reduce concentration in commercial real estate and the real estate specialties group, or RESG.
“We want to make sure that we are not trading one concentration for another,” Gleason said, adding that diversification within CIB is important to long-term franchise value.
CIB Growth Adds Diversification Jake Munn, president of corporate and institutional banking, said CIB now includes more than seven major business lines, including corporate banking and sponsor finance, fund finance, lender finance, natural resources, franchise capital solutions, asset-based lending and equipment finance.
Munn also highlighted the bank’s emerging middle market group, which he said is intended to bridge the gap between the legacy community bank and the larger corporate banking and sponsor finance segment. The group will focus on family-owned businesses with roughly $15 million to $100 million in revenue, particularly within Bank OZK’s core footprint.
According to Munn, CIB currently represents more than 42 unique NAICS categories, giving the bank flexibility to adjust its emphasis across business lines as market conditions change. He said growth in the most recent quarter was led by corporate banking and sponsor finance, along with natural resources, while asset-based lending was less emphasized because of tighter pricing and more aggressive advance rates in that market.
Munn said the bank views CIB as more than a loan-growth engine, pointing to potential deposit opportunities and cross-selling in treasury management, private wealth management, commodity hedging, interest-rate hedging and capital markets services.
RESG Repayments Expected to Remain Elevated Executives said repayments in the RESG portfolio remained high in the second quarter and are expected to stay elevated through the rest of 2026 and into 2027. Gleason said repayments approached $3 billion in the second quarter and averaged about $2.5 billion per quarter over the trailing four quarters.
Gleason said the elevated repayment activity is tied to the natural cadence of loans originated during 2022, which he described as a record origination year. He said the bank expects repayments to taper somewhat in 2027 but remain elevated based on current projections.
President Brannon Hamblen said repayment timing can shift based on market conditions, sponsor strategies, refinancing activity, sales decisions and cap-rate changes. “A lot of it’s just the natural cadence of the portfolio moving through the pipe,” Hamblen said.
Despite the repayment headwind, Gleason said the bank continues to expect mid-single-digit loan growth for the full year. He said a wave of repayments early in the second quarter pressured average earning assets, making it difficult to catch up during the rest of the period.
“Hopefully those prepayments will be a little more levelized in Q3 and Q4,” Gleason said.
Net Interest Income Guidance Pressured by Average Earning Assets Asked about changes in net interest income commentary, Gleason said the principal factor was average earning assets rather than deposit competition or liability-side pressures. He said the bank had expected more linear growth during the year but experienced a pullback in the second quarter after early loan payoffs.
Gleason said Bank OZK had anticipated a competitive deposit environment at the start of the year, and that environment has continued. He said the bank’s view of net interest margin is broadly consistent with analyst consensus estimates and reiterated that management expects margin to be slightly below the first quarter’s 4.20% level.
On deposit costs, Gleason said the bank’s CD specials are roughly 10 basis points higher than their low point, reflecting expectations for more deposit growth in the third and fourth quarters to support loan growth. He said the second-quarter cost of interest-bearing deposits likely represented an inflection point and that modest increases are expected going forward.
Chief Financial Officer Tim Hicks said he expects average earning assets to increase in both the third and fourth quarters from the second-quarter level.
Credit Trends and Reserves Remain in Focus Credit quality was a major focus of the call, with analysts asking about special mention loans, life science exposure and charge-offs. Gleason said the increase in special mention loans should not be overinterpreted, noting that some loans enter the category while extension or recapitalization discussions are underway and later return to pass status.
“I think there are several of them that look like they’re going to work out favorably and be candidates for upgrade over the next couple of quarters, if not the next month or two,” Gleason said.
Hicks said Bank OZK had built its allowance for credit losses in recent years in anticipation of later charge-offs. As those charge-offs are realized, he said the bank has considered it appropriate to reduce the allowance over the last couple of quarters. He cited two Seattle buildings that moved into other real estate owned during the quarter, with charge-offs of $22 million on the office property and $3.7 million on the life science property, saying those amounts had already been reserved for in the prior quarter.
Hicks said provision expense has been below consensus estimates over the last several quarters and could continue to “drift down” if the economy maintains its resiliency and strength.
On life science, Gleason said the bank has a “pretty healthy” allowance for the portfolio given sector challenges. He said several life science assets are well leased, while one life science loan that was exited through a discounted payoff was, in his view, probably the least desirable single asset in the portfolio. Hamblen said tenant activity has improved in some markets, including interest from technology, AI and office users in addition to life science tenants.
Real Estate Concentration Continues to Decline Gleason said muted RESG origination volume and ongoing repayments will continue to reduce the bank’s real estate concentration. He said Bank OZK is now below the regulatory concentration guideline for total commercial real estate and expects to be below the 100% guideline for construction and development by the end of 2026 or early 2027.
Management expects the CIB and RESG portfolios to become roughly equal in size at some point in 2027. Gleason said that implies continued strong growth in CIB and continued paydowns in RESG. He also said the community banking, indirect and RV portfolios could show more positive momentum through 2027, resulting in a more balanced portfolio across major segments.
Asked about share repurchases, Hicks said the bank used about $175 million of its prior $200 million authorization over the last four quarters at an average price below tangible book value. He said the board has approved a new $200 million authorization for the next four quarters, with actual usage dependent on the stock price.
Gleason closed the call by saying management looks forward to updating investors again next quarter.
About Bank OZK (NASDAQ:OZK) Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.
The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.
Německému automobilovému koncernu Volkswagen se v prvním pololetí propadl zisk po zdanění o 30,7 procenta na 3,1 miliardy eur (zhruba 75 miliard Kč). Firma, jejíž součástí je i česká Škoda Auto, o tom informovala v dnešní výsledkové zprávě. Provozní zisk v pololetí klesl téměř o 12 procent na 5,9 miliardy eur, zatímco provozní zisk samotné Škody Auto zhruba o šest procent vzrostl a dosáhl téměř 1,4 miliardy eur.
Tržby koncernu Volkswagen v pololetí klesly o 0,2 procenta na 158,1 miliardy eur. Podnik dnes uvedl, že v celém letošním roce počítá s poklesem tržeb až o tři procenta. V předchozím výhledu přitom očekával až tříprocentní růst.
Volkswagen se v poslední době potýká s řadou problémů, včetně vysokých nákladů, nadbytečných kapacit, rostoucí čínské konkurence nebo amerických cel. "Podmínky v automobilovém průmyslu zůstávají mimořádně náročné: geopolitické krize, obchodní konflikty, vysoké regulační požadavky, výkyvy na trzích a rostoucí konkurence," uvedl koncernový šéf Oliver Blume
Volkswagen teď chystá rozsáhlou restrukturalizaci aktivit zahrnující drastické omezení výroby. Podle nedávné zprávy agentury Reuters by v koncernu mohlo v příštích letech zaniknout až 140 000 pracovních míst. Na konci loňského roku koncern podle výroční zprávy zaměstnával kolem 663 000 lidí.
Škoda Auto nicméně tento měsíc uvedla, že restrukturalizační plán koncernu nemá přímý dopad na její aktivity. Škoda Auto patří mezi největší zaměstnavatele v České republice, kde provozuje tři výrobní závody a má zhruba 36 500 zaměstnanců včetně agenturních.
Šéf koncernu Blume dnes v rozhovoru s agenturou DPA řekl, že chce plánovaný úsporný balík přijmout ještě do konce letošního roku. Návrhem se před dvěma týdny poprvé zabývala dozorčí rada. "Měli jsme tam konstruktivní, ale i kontroverzní diskusi," řekl Blume.
Podle DPA narazil plán na odpor především u zástupců zaměstnanců a spolkové země Dolní Sasko, v níž Volkswagen sídlí a která drží v koncernu pětinový podíl. Součástí plánu je mimo jiné zrušení dalších 50 000 pracovních míst nad už dohodnutých 50 000. Další zasedání dozorčí rady by se mělo uskutečnit v září. Podle Blumeho jsou ale navrhovaná opatření tak obsáhlá, že bude potřeba o nich jednat i na dalších zasedáních.
"Jsem ale pevně přesvědčen, že to budeme muset udělat ještě letos," dodal šéf koncernu.
Whales accumulated more than 14 million LINK over the last three weeks, strengthening the bullish narrative despite the market’s recent consolidation. This buying activity hinted at growing confidence among large holders, instead of aggressive profit-taking.
The steady increase in whale balances may be a sign that institutional-sized participants preferred accumulating during periods of stable prices, rather than chasing rallies.
Large-scale accumulation often reduces available circulating supply over time, which could support higher prices if demand continues to increase.
Even so, traders would still need broader market participation because whale purchases alone rarely sustain prolonged rallies without additional spot demand.
Spot outflows keep selling pressure contained Chainlink’s spot market has continued to record negative exchange netflows, reducing the immediate risk of heavy exchange-driven selling. In fact, the latest daily reading showed a -$601.60K netflow, meaning more LINK left exchanges than entered them. This finding suggested that investors preferred holding tokens in private wallets, instead of positioning them for sale.
Earlier periods also saw persistent negative netflows, reinforcing the broader accumulation narrative despite occasional short-lived inflow spikes.
However, the relatively modest daily outflow indicated that buying activity remained measured rather than aggressive. Sustained negative netflows would likely strengthen supply conditions if demand accelerates across the board.
Still, any sustained return of positive exchange inflows could weaken that advantage by increasing readily available selling liquidity.
Source: CoinGlass Why are Binance traders staying bullish? Binance’s top traders have so far maintained a clear bullish bias despite LINK’s recent consolidation below resistance.
Long accounts represented 67.57% of positions while short accounts accounted for 32.43%, producing a 2.08 Long/Short Ratio. The positioning suggested that experienced participants have continuted to favor upside exposure, instead of preparing for an extended decline.
Nevertheless, leveraged optimism alone does not guarantee higher prices because spot demand still needs to confirm the Futures outlook. The combination of whale accumulation and persistent long positioning hinted at improving market confidence across different participant groups.
If buyers maintain that conviction while spot demand strengthens, LINK would likely receive additional support for another attempt at higher resistance levels.
Source: CoinGlass Can LINK finally reclaim $9.05? At the time of writing, Chainlink [LINK] was trading at around $8.57 after recovering steadily from the $7-support zone and reclaiming the $8.26-level. The price approached the key $9.05-resistance, but it had not produced a confirmed breakout.
The MACD stayed above the Signal line to underline bullishness, despite the histogram’s bars getting smaller. This suggested that buying strength had moderated after the recent advance.
That combination also suggested that while recovery remained intact, short-term enthusiasm cooled down slightly.
If buyers reclaim $9.05, LINK would likely challenge the psychological $10-resistance next. However, rejection under $9.05 could trigger another pullback towards $8.26. This is a level where buyers previously regained control.
Ultimately, the broader structure still seemed to favor recovery as long as the price defends that support.
Source: TradingView Final Summary Whale accumulation and exchange outflows have continued to support LINK’s improving market structure. LINK still needs a decisive break above $9.05 to strengthen the bullish outlook.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
20 minutes ago
Suspected a16z address has staked 2.785 million HYPE tokens, worth approximately $164 million.
According to Mlm monitoring, a HYPE whale staked 2.785 million HYPE tokens via 20 wallets over the past 11 hours, worth roughly $164 million. The whale had previously accumulated 2.94 million HYPE tokens between September and October last year, currently valued at approximately $172 million, and ranks among HYPE’s largest holders. The whale may be linked to a16z, though this association has not been confirmed.
20 minutes ago
Intel's pre-market trading rose nearly 5% on the back of strong Q2 performance and Q3 guidance that exceeded expectations.
According to market data from BIT (bit.com), Intel (INTC) is up nearly 5% in pre-market trading, as its Q2 results were strong and Q3 guidance exceeded expectations.
20 minutes ago
Jiang Zhuoer: The CLARITY Act has only a 10% to 20% chance of passing, with major disagreements on ethical provisions persisting between the two parties.
Jiang Zhuoer, founder of BTC.TOP, stated in a post that the Clarity Act has only a 10% to 20% chance of passing, with major disagreements persisting solely on its ethics provisions. The proposal agreed by Trump only restricts the president and their spouse from engaging in crypto asset issuance, while Democrats demand including other family members and family entities in the restrictions. The two sides also failed to reach an agreement on law enforcement authority: Trump supports the U.S. Department of Justice (DOJ) being responsible for prosecuting violations, but Democrats argue the Attorney General is appointed by the president and demand granting state attorneys general the right to prosecute as well. Jiang believes that fully accepting the Democrats’ proposed restrictions would leave Trump with little incentive to sign the bill. Apart from the ethics provisions, multiple disagreements also exist in other parts of the legislation. The U.S. Congress will adjourn on August 7, with only around 10 working days remaining, leaving the procedural timeline extremely tight and making it difficult to bridge major divides before adjournment. He added that Congress’s session from September 14 to October 5 falls near the midterm elections, and lawmakers must also handle budget and appropriations agendas, with even a potential government shutdown risk. Democrats also lack the political incentive to push the bill through before the elections.
20 minutes ago
Bitget has completed dividend distributions for 63 stocks including Micron Technology and TSMC.
According to an official announcement, Bitget has completed the dividend distribution for 63 US stocks and ETFs, including rMU (Micron Technology), rQQQ (Nasdaq 100 Index ETF), and rTSM (Taiwan Semiconductor Manufacturing Company, TSMC). The platform has settled USDT dividends proportionally for users who held the relevant assets at the snapshot time, with the entire process automated—no user action is required. This distribution covers multiple asset categories including technology, semiconductors, communications, and index ETFs. Users can check specific details via: in the App, navigate to "Assets" → "Financial Records" → "Spot" → "Other" → "Dividends"; or on the Web, go to "Asset Overview" → "Spot Orders" → "Fund Flow" → "Other" → "Dividends". The final credited amount and timing shall be subject to the platform’s actual credit and page display.
20 minutes ago
Ethereum breaks through $1,900
According to HTX market data, Ethereum has broken through the $1900 level, with a 0.92% decline in the past 24 hours.
Coinbase Opens Business Payments to AI AgentsCoinbase is moving to put autonomous software at the center of digital commerce. Starting this week, Coinbase Business users can accept $USDC payments directly from AI agents through the x402 payment standard. Coinbase launched x402 in May 2025 as a way for APIs, apps, and AI agents to transact directly over HTTP using stablecoins.
The feature uses x402, an open payment standard created for automated payments across websites and online services. Businesses will not need to complete additional setup to accept agent payments. Coinbase said USDC transactions settle instantly and do not carry chargeback risk. The service also supports reusable payment links and automated buyer data collection for reconciliation and analytics.
The timing is deliberate. The rollout arrives as agent traffic starts to overtake human traffic on parts of Coinbase's platform. Sid Coelho-Prabhu, who leads Coinbase Business, described it as recreating a familiar transaction for a new customer type, telling CoinDesk: "We are delivering that experience for the new online agentic economy."
Trading Tools, Developer Kit and the Agentic EconomyThe new releases include support for agent payments through Coinbase Business, expanded trading capabilities within Coinbase for Agents, and a new x402 software development kit from Coinbase Developer Platform.
Coinbase also expanded Coinbase for Agents, its Model Context Protocol product, with new commands that allow AI agents to access live market data and execute trades based on predefined rules. The tools include live monitoring of open orders, access to order books, and real-time price and volume data. Users can create conditional instructions that trigger purchases when a selected price or market condition is reached. Coinbase said the system uses the same WebSocket market data infrastructure available to institutional trading desks while allowing users to manage instructions through natural language.
On the developer side, the CDP x402 SDK lets developers integrate agent payment acceptance in just three lines of code, with managed wallets and spend controls included. Coinbase and Cloudflare launched the x402 Foundation in 2025 to establish x402 as the universal standard for internet-native payments. Core members now include Google, Visa, AWS, Circle, Anthropic, and Vercel alongside the founding partners.
Coinbase said the products are designed to support the "agentic economy," where AI agents can make payments, manage finances, and complete other tasks on behalf of users.
Sources:
Coinbase for Agents: Official Coinbase Blog
Coinbase Enables AI Agents to Pay Businesses and Execute Crypto Trades, Crypto Briefing
Coinbase Closes the Gaps in AI Agent Economy, CoinDesk
Coinbase is allowing businesses to accept USDC payments from autonomous AI agents as part of a wider expansion of its agent-focused financial tools.
Summary
Coinbase Business will accept USDC payments initiated by AI agents through its native x402 support. Coinbase for Agents adds live market views and conditional actions controlled by user-defined trading guardrails. Developers can add agent payment acceptance to online services using Coinbase’s streamlined CDP x402 SDK. The exchange announced the rollout on July 23, 2026, alongside new trading commands for users and a developer kit for adding x402 payments to online services.
Coinbase said software-generated traffic exceeded human traffic on its Base documentation pages for the first time in June. The company argued that most online payment systems still assume “a human clicking the button,” leaving businesses and developers without a simple way to serve autonomous software.
Coinbase Business adds agent payments Beginning this week, Coinbase Business users can accept USDC payments sent by AI agents. Coinbase Payments powers the feature, while native x402 support handles internet-based, pay-per-use transactions. Businesses can receive, track, reconcile and cash out agent payments from the same account used for other payment activity.
Coinbase Business also offers rewards on eligible idle USDC balances. Its current business page lists a 3.35% annual reward rate, although Coinbase says rates can vary by region and may change. The company also states that USDC payments do not carry chargeback risk because Coinbase does not act as a party to transactions between businesses and their customers.
New commands expand Coinbase for Agents Coinbase also added real-time market views and conditional actions to Coinbase for Agents. The new commands let an agent stream open orders, view an asset’s order book and watch live price and volume data. Users can set a condition that triggers a planned action, including a buy, sale or order cancellation.
The company presented examples such as selling assets when Bitcoin falls below a set level or cancelling an order after a fixed period. Users define those instructions and related guardrails.Coinbase for Agents already allowed authorised AI tools to trade, manage portfolios and complete financial workflows through linked Coinbase accounts.
CDP x402 SDK targets developers Coinbase Developer Platform introduced a new CDP x402 SDK that lets developers add agent payments to an API, Model Context Protocol server or web service with a small code setup. Coinbase said the kit arrives preconfigured with its preferred infrastructure and extensions, reducing the manual work previously required to choose payment middleware and service providers.
The x402 standard uses the HTTP 402 “Payment Required” response to send payment instructions directly between an online service and a client. An AI agent can receive the request, sign a stablecoin payment and retry access with proof of payment. Coinbase launched the open standard in May 2025 for APIs, applications and autonomous agents.
The latest products extend a series of agent-payment releases from Coinbase. As previously reported, Amazon added Coinbase x402 to Bedrock AgentCore Payments in May, allowing agents to pay for services in USDC. Coinbase-backed x402 also launched Agentic.market in April to help agents discover and purchase compatible online services.
The company has not disclosed payment volumes expected from the feature.Coinbase said the three updates cover businesses receiving payments, people directing financial agents and developers building agent services. The rollout remains tied to user-set controls, supported regions and product availability. Coinbase Business currently operates in the U.S. and Singapore, while individual features and USDC reward rates may differ by market.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Key Highlights Businesses using Coinbase can now receive USDC payments directly from AI agents through x402 protocol integration The x402 framework debuted in May 2025, designed to facilitate stablecoin transactions via HTTP Automated trading features allow users to set market conditions and execute transactions through AI monitoring Developers gain access to an x402 SDK enabling payment integration with minimal code implementation AI agent activity on Coinbase’s Base documentation exceeded human visits for the first time recently In a significant expansion of its business services, Coinbase has introduced functionality enabling commercial entities to receive cryptocurrency payments from autonomous AI agents. The platform now supports USDC stablecoin transactions through its Business tier, marking a shift toward automated digital commerce.
The infrastructure relies on x402, a payment protocol developed by Coinbase and unveiled in May 2025. This framework enables stablecoin transfers to occur via HTTP requests, effectively allowing AI systems to execute financial transactions similar to how consumers use digital payment methods for online purchases.
According to Sid Coelho-Prabhu, who leads Coinbase Business operations, the development represents creating a payment gateway tailored for an economy driven by autonomous agents. These AI systems can establish wallets independently, access necessary technical documentation, and begin conducting transactions without requiring merchants to implement specialized infrastructure.
Transaction processing occurs through Coinbase Payments infrastructure with settlements completed in USDC. Merchants can accept these automated payments without developing custom integration solutions.
Automated Trading Features Debut Alongside the business payment tools, Coinbase has activated AI-powered trading capabilities for individual users. These features enable traders to establish parameters using conversational language—for instance, “purchase ETH when price drops 5%”—with an AI agent continuously monitoring market conditions and executing trades when criteria are met.
The interface provides real-time visibility into all agent-managed orders, displaying current status, pricing information, and transaction volumes. Behind the scenes, the system leverages WebSocket market feeds identical to those utilized by professional trading operations.
This democratizes sophisticated market surveillance capabilities that traditionally required either technical expertise or specialized software to implement effectively.
SDK Release Simplifies Development On the developer front, Coinbase has made available an x402 software development kit via its Developer Platform. The toolkit enables programmers to integrate x402 payment capabilities into APIs, MCP servers, or web applications with minimal coding effort—reportedly just three lines of implementation code.
This streamlined approach reduces technical barriers for developers building applications designed to interact with AI agents conducting financial operations.
The company highlighted increasing adoption signals, revealing that automated agent traffic surpassed human visitors on Base network documentation resources last month. Coinbase emphasized that existing internet payment systems were architected with the assumption of human interaction—a premise that no longer reflects current usage patterns.
This launch aligns with broader industry momentum, as multiple payment processors and cryptocurrency platforms work to establish stablecoins as the foundational payment layer for AI-driven online commerce.
Specific pricing structures for these new business capabilities have not been disclosed, though they operate within Coinbase’s existing Payments framework.
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
20 minutes ago
Suspected a16z address has staked 2.785 million HYPE tokens, worth approximately $164 million.
According to Mlm monitoring, a HYPE whale staked 2.785 million HYPE tokens via 20 wallets over the past 11 hours, worth roughly $164 million. The whale had previously accumulated 2.94 million HYPE tokens between September and October last year, currently valued at approximately $172 million, and ranks among HYPE’s largest holders. The whale may be linked to a16z, though this association has not been confirmed.
20 minutes ago
Intel's pre-market trading rose nearly 5% on the back of strong Q2 performance and Q3 guidance that exceeded expectations.
According to market data from BIT (bit.com), Intel (INTC) is up nearly 5% in pre-market trading, as its Q2 results were strong and Q3 guidance exceeded expectations.
20 minutes ago
Jiang Zhuoer: The CLARITY Act has only a 10% to 20% chance of passing, with major disagreements on ethical provisions persisting between the two parties.
Jiang Zhuoer, founder of BTC.TOP, stated in a post that the Clarity Act has only a 10% to 20% chance of passing, with major disagreements persisting solely on its ethics provisions. The proposal agreed by Trump only restricts the president and their spouse from engaging in crypto asset issuance, while Democrats demand including other family members and family entities in the restrictions. The two sides also failed to reach an agreement on law enforcement authority: Trump supports the U.S. Department of Justice (DOJ) being responsible for prosecuting violations, but Democrats argue the Attorney General is appointed by the president and demand granting state attorneys general the right to prosecute as well. Jiang believes that fully accepting the Democrats’ proposed restrictions would leave Trump with little incentive to sign the bill. Apart from the ethics provisions, multiple disagreements also exist in other parts of the legislation. The U.S. Congress will adjourn on August 7, with only around 10 working days remaining, leaving the procedural timeline extremely tight and making it difficult to bridge major divides before adjournment. He added that Congress’s session from September 14 to October 5 falls near the midterm elections, and lawmakers must also handle budget and appropriations agendas, with even a potential government shutdown risk. Democrats also lack the political incentive to push the bill through before the elections.
20 minutes ago
Bitget has completed dividend distributions for 63 stocks including Micron Technology and TSMC.
According to an official announcement, Bitget has completed the dividend distribution for 63 US stocks and ETFs, including rMU (Micron Technology), rQQQ (Nasdaq 100 Index ETF), and rTSM (Taiwan Semiconductor Manufacturing Company, TSMC). The platform has settled USDT dividends proportionally for users who held the relevant assets at the snapshot time, with the entire process automated—no user action is required. This distribution covers multiple asset categories including technology, semiconductors, communications, and index ETFs. Users can check specific details via: in the App, navigate to "Assets" → "Financial Records" → "Spot" → "Other" → "Dividends"; or on the Web, go to "Asset Overview" → "Spot Orders" → "Fund Flow" → "Other" → "Dividends". The final credited amount and timing shall be subject to the platform’s actual credit and page display.
20 minutes ago
Ethereum breaks through $1,900
According to HTX market data, Ethereum has broken through the $1900 level, with a 0.92% decline in the past 24 hours.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
ING’s Warren Patterson and Ewa Manthey report that Gold has come under pressure as higher Oil prices stoke inflation concerns and push yields and the US Dollar higher. They note that safe-haven demand has been limited despite geopolitical risks, with recent gains driven mainly by dip-buying and short covering. The analysts see $4,000/oz as a key near-term support level.
Higher yields and Dollar weigh on bullion"Gold fell as escalating tensions in the Middle East pushed energy prices higher, raising concerns that inflation could remain elevated and keep monetary policy restrictive for longer."
"Despite ongoing geopolitical risks, gold has struggled to attract meaningful safe-haven demand since the conflict began. Instead, markets have focused on the inflationary implications of higher oil prices and the prospect of higher-for-longer interest rates."
"Brent crude climbed back above $100/bbl, lifting Treasury yields and the US dollar and weighing on non-yielding assets like gold. Recent strength in bullion appears driven largely by dip-buying and short covering."
"This follows the sharp correction from record highs earlier this year. The rebound has since lost momentum."
"Gold is hovering around the key $4,000/oz support level. However, elevated oil prices and rising yields are likely to cap any recovery, leaving $4,000/oz as the key near-term level to watch."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
SummaryMonarch Casino delivered a 6% EPS beat, with hotel segment growth and robust cash generation, despite a 5% stock pullback post-earnings.MCRI's hotel revenue rose 13% YoY, now over 15% of total revenue, driven by regional visitation trends and recent property renovations.Adjusted EBITDA margin dipped 30 bps to ~37%, mainly due to higher F&B costs and wage inflation, but SG&A remains well-controlled.I upgrade to a moderate 'Buy,' targeting $125 short-term and $140–$150 medium-term, citing strong EPS growth and M&A optionality. Alex Potemkin/iStock via Getty Images
Monarch Casino (MCRI), which I affectionately call the 'Jewel of Regional Casinos,' reported its earnings yesterday.
I had written that I expected a moderate EPS beat, with revenue at the same pace as the last
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MONETA meziročně zvýšila svůj čistý zisk o 8,1 procenta na 3,3 miliardy Kč. To představuje návratnost hmotného kapitálu ve výši 23,3 procenta. Prezentace finančních výsledků je dostupná zde a na odkazu: https://investors.moneta.cz/financni-vysledky
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24.07.2026 10:20Moneta se vytáhla se silnou sadou výsledků, které budou pro cenu akcií podpůrné 9:01Rozbřesk: Raketově rostoucí ceny plynu donutí ECB zvýšit sazby i v září 8:31Intel navyšuje výhled tržeb, Volkswagen letos naopak počítá s jejich poklesem, evropské futures jsou smíšené 7:39Moneta zvýšila čistý zisk o 8,1 procenta a navýšila celoroční výhled 7:20MONETA Money Bank, a.s.: Čistý zisk za 1. pololetí 2026 vzrostl na 3,3 mld. Kč 6:09Eli Lilly odkládá žádost o schválení nové generace léku na hubnutí. Přípravek v klíčových studiích ale uspěl 23.07.2026 22:03Konflikt mezi Íránem a USA nadále eskaluje 17:03Budování AI železnic? 15:20ServiceNow ukázala, že na AI už umí vydělávat. Investory potěšil růst i lepší výhled 15:11ECB podle očekávání nechala úroky beze změn, depozitní sazba je na 2,25 procenta 14:59CSG si vzala úvěr až na 74 miliard korun na refinancování svých stávajících úvěrů 13:50Trh čeká tři zvýšení sazeb. Podle Kubíčka je takový scénář přehnaný 12:46Tesla sice prodala více aut, ale poprvé za dva roky spálila víc peněz, než sama vydělala 11:58Na akcie doléhá příliš drahá AI, rostoucí výnosy dluhopisů i výsledky 11:00Alphabet poprvé od svého IPO vykazuje záporný cash flow. Akcie i přes famózní výsledky klesají 10:38UniCredit ve druhém čtvrtletí klesl zisk o 13 procent 9:21Rozbřesk: Jak Detroit prohrál s Japonskem a proč by Evropa měla zbystřit 8:36Výsledky dodaly Alphabet a Tesla, Evropa zahájí spíše negativně 8:26Prodej aut v EU v červnu stoupl o 13,6 procenta, dál posílili čínští výrobci 8:19Muskova automobilka Tesla zvýšila tržby o čtvrtinu, ale zisk jí klesl
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Jako první z bank kótovaných na pražské burze zveřejnila své hospodářské výsledky Moneta Money Bank. Ta navýšila čistý zisk i celoroční výhled. Jak výsledky hodnotí analytik Patria Finance Jindřich Litner? Moneta vykázala za 2Q26 čistý zisk ve výši 1,76 mld.
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Tagy: akcie, banky, ČR, Moneta Money Bank, Bankovní sektor
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24.07.2026 10:20Moneta se vytáhla se silnou sadou výsledků, které budou pro cenu akcií podpůrné 9:01Rozbřesk: Raketově rostoucí ceny plynu donutí ECB zvýšit sazby i v září 8:31Intel navyšuje výhled tržeb, Volkswagen letos naopak počítá s jejich poklesem, evropské futures jsou smíšené 7:39Moneta zvýšila čistý zisk o 8,1 procenta a navýšila celoroční výhled 7:20MONETA Money Bank, a.s.: Čistý zisk za 1. pololetí 2026 vzrostl na 3,3 mld. Kč 6:09Eli Lilly odkládá žádost o schválení nové generace léku na hubnutí. Přípravek v klíčových studiích ale uspěl 23.07.2026 22:03Konflikt mezi Íránem a USA nadále eskaluje 17:03Budování AI železnic? 15:20ServiceNow ukázala, že na AI už umí vydělávat. Investory potěšil růst i lepší výhled 15:11ECB podle očekávání nechala úroky beze změn, depozitní sazba je na 2,25 procenta 14:59CSG si vzala úvěr až na 74 miliard korun na refinancování svých stávajících úvěrů 13:50Trh čeká tři zvýšení sazeb. Podle Kubíčka je takový scénář přehnaný 12:46Tesla sice prodala více aut, ale poprvé za dva roky spálila víc peněz, než sama vydělala 11:58Na akcie doléhá příliš drahá AI, rostoucí výnosy dluhopisů i výsledky 11:00Alphabet poprvé od svého IPO vykazuje záporný cash flow. Akcie i přes famózní výsledky klesají 10:38UniCredit ve druhém čtvrtletí klesl zisk o 13 procent 9:21Rozbřesk: Jak Detroit prohrál s Japonskem a proč by Evropa měla zbystřit 8:36Výsledky dodaly Alphabet a Tesla, Evropa zahájí spíše negativně 8:26Prodej aut v EU v červnu stoupl o 13,6 procenta, dál posílili čínští výrobci 8:19Muskova automobilka Tesla zvýšila tržby o čtvrtinu, ale zisk jí klesl
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Německé akcie měřené indexem DAX se v úvodu páteční seance obchodují v zelených číslech.
Akcie Volkswagenu klesají o 1,4 %. Automobilka nově očekává pokles celoročních tržeb až o 3 %, případně jejich stagnaci, zatímco dříve počítala se stagnací až růstem o 3 %. Výsledky za druhé čtvrtletí zaostaly na úrovni provozního zisku i marže, když provozní zisk dosáhl 3,47 mld. EUR oproti očekávaným 4,07 mld. EUR. Hlavním důvodem zhoršeného výhledu je slabší vývoj v Číně, přičemž Volkswagen zároveň upozornil na rostoucí konkurenční tlak čínských výrobců. Analytici Bernstein hodnotí pozitivně potvrzení celoročního výhledu provozní marže v rozmezí 4 až 5,5 %, zatímco Morgan Stanley poukazuje na lepší než očekávaný volný peněžní tok automobilové divize. Finanční ředitel Arno Antlitz uvedl, že Volkswagen musí výrazně zjednodušit nabídku vozů, omezit počet používaných technických platforem, zefektivnit investiční portfolio a zjednodušit řízení i rozhodování ve skupině.
Softwarová společnost SAP včera po uzavření trhu reportovala výsledky za 2Q 2026. Výnosy z cloudových služeb předčily očekávání a analytici celkově hodnotí report jako solidní. Očekávání nenaplnila společnost výší provozního zisku, na jehož úrovni snížilo SAP také roční výhled kvůli negativnímu vlivu uskutečněných akvizic. Akcie SAP přidávají 6,5 %.
Index DAX +0,5 % na 24886,92 b. Nejsilnější akcie Změna Nejslabší akcie Změna SAP (SAP) +6,5 % Adidas (ADS) -3,4 % Deutsche Boerse (DB1) +1,6 % Brenntag (BNR) -1,7 % Siemens Energy (ENR) +1,4 % Deutsche Telekom (DTE) -1,5 % Rheinmetall AG (RHM) +1,1 % Volkswagen (VOW3) -1,4 % Fresenius (FRE) +0,8 % Qiagen (QIA) -1,3 %
Zdroj: Bloomberg
Index nákupních manažerů PMI ve výrobě (S&P Global) (červenec - předběžný):
aktuální hodnota: 52,0 b.
očekávání trhu: 51,5 b.
předchozí hodnota: 51,4 b.
Index nákupních manažerů PMI ve službách (S&P Global) (červenec - předběžný):
aktuální hodnota: 51,6 b.
očekávání trhu: 49,8 b.
předchozí hodnota: 49,4 b.
Index nákupních manažerů PMI - kompozitní (S&P Global) (červenec - předběžný):
aktuální hodnota: 51,9 b.
očekávání trhu: 50,2 b.
předchozí hodnota: 50,0 b.
Gentherm (NASDAQ:THRM – Get Free Report) announced that its Board of Directors has approved a share buyback program on Thursday, July 23rd, RTT News reports. The company plans to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 36.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes Several analysts recently weighed in on the company. Robert W. Baird lifted their price target on Gentherm from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wall Street Zen raised Gentherm from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Stifel Nicolaus raised their price target on shares of Gentherm from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Gentherm from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Weiss Ratings upgraded shares of Gentherm from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.60.
Read Our Latest Research Report on Gentherm
Gentherm Stock Performance Shares of Gentherm stock opened at $45.61 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.97 and a quick ratio of 1.36. Gentherm has a one year low of $27.00 and a one year high of $45.96. The business has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $32.88. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 60.81 and a beta of 1.38.
Gentherm (NASDAQ:THRM – Get Free Report) last posted its earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.19. The company had revenue of $404.94 million for the quarter, compared to analyst estimates of $382.90 million. Gentherm had a net margin of 1.47% and a return on equity of 11.25%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. On average, research analysts anticipate that Gentherm will post 2.75 earnings per share for the current fiscal year.
Gentherm News Roundup Here are the key news stories impacting Gentherm this week:
Positive Sentiment: Gentherm beat Q2 earnings and revenue expectations, reporting $0.75 per share versus the $0.56 consensus and revenue of $404.94 million versus $382.90 million expected. The company also said revenue rose 11% year over year. Gentherm (THRM) Beats Q2 Earnings and Revenue Estimates Positive Sentiment: Management raised full-year 2026 guidance and highlighted record quarterly revenue of $416 million, signaling momentum heading into the second half of the year. Gentherm Reports 2026 Second Quarter Results and Announces a New Increased Stock Repurchase Authorization Positive Sentiment: The board approved a new stock repurchase authorization of up to $400 million, which can support earnings per share and signals confidence in the company’s cash generation. Gentherm Reports 2026 Second Quarter Results and Announces a New Increased Stock Repurchase Authorization Positive Sentiment: Gentherm also announced the acquisition of Innovative Medical Equipment, expanding its medical product portfolio and customer channels, which could add to longer-term growth. Gentherm Acquires Innovative Medical Equipment, LLC, Strengthening Medical Product Portfolio and Customer Channels About Gentherm Get Free Report)
Gentherm Incorporated (NASDAQ: THRM) is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company’s core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm’s product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.
In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Weatherford International (NASDAQ:WFRD) reported second-quarter 2026 revenue of $1.105 billion, adjusted EBITDA of $223 million and adjusted free cash flow of $139 million, as management said the oilfield services company held margins steady despite operational disruptions tied to conflict in the Middle East and softer activity in several markets.
President and CEO Girish Saligram said adjusted EBITDA margin was 20.2% in the quarter, while adjusted free cash flow conversion reached 62.3% of adjusted EBITDA. He said the company was “especially pleased” with margin and cash performance given a challenging backdrop that included Middle East activity not returning to pre-conflict levels, activity declines in Indonesia, pricing pressure in some areas and a union strike in Norway.
“Despite those incremental pressures, our team rallied to deliver EBITDA margins north of 20% and essentially flat to Q1,” Saligram said. He also cited working capital execution, including strong payments from Weatherford’s largest customer in Mexico, as a key driver of cash flow.
Middle East disruptions weigh on outlook Saligram said the Middle East was the most visibly affected region in the quarter, with activity suspensions, project deferrals and logistical disruptions that began in March continuing through much of the period. Freight and logistics costs remained elevated, peaking in May before beginning to moderate, he said.
The company previously estimated a first-half profit impact of $30 million to $50 million from the regional conflict. Saligram said the first-half impact was within that range, but that the full-year effect is expected to increase following recent flare-ups, and Weatherford has incorporated that into its guidance.
In response to a question from Citigroup analyst Scott Gruber, Saligram said the financial impact does not appear to be increasing at the moment and is moderating, though he cautioned that the situation remains uncertain. He said Saudi Arabia had started to return to normalcy before the latest flare-up, while Oman remained broadly stable. He identified Bahrain, Qatar, Iraq and Kuwait as areas that had seen more disruption and delay.
Weatherford also saw revenue decline in Saudi Arabia following the conclusion of its LSTK contract, an effect Saligram said will be more visible in the second half. He said the company remains interested in growth in Saudi Arabia but is comfortable not having an LSTK contract given market pricing levels.
Guidance revised, cash flow outlook raised Executive Vice President and CFO Anuj Dhruv said Weatherford generated $139 million of adjusted free cash flow in the second quarter, compared with adjusted free cash flow conversion of 31.1% in the second quarter of 2025 and 36.5% in the first quarter of 2026. He attributed the improvement primarily to working capital release, continued collections, including from the company’s key customer in Mexico, and lower capital expenditures.
Dhruv said adjusted net working capital as a percentage of revenue improved sequentially by about 90 basis points to 27%, marking the second consecutive quarter of improvement. Capital expenditures were $42 million, or 3.8% of revenue, down about $12 million from the prior-year quarter.
Weatherford returned $36 million to shareholders during the quarter, including $20 million in dividends and $16 million in share repurchases. Since launching its shareholder return program, the company has returned more than $370 million through buybacks and dividends, Dhruv said.
At quarter-end, Weatherford had about $1.14 billion of cash and restricted cash, total liquidity of $1.7 billion and a net leverage ratio of 0.34 times.
For the third quarter, Weatherford expects:
Revenue of $1.105 billion to $1.155 billion; Adjusted EBITDA of $235 million to $265 million; Adjusted free cash flow of more than $100 million. For full-year 2026, the company now expects revenue of $4.54 billion to $4.80 billion and adjusted EBITDA of $951 million to $1.046 billion. Weatherford raised its adjusted free cash flow conversion outlook to the mid-to-high 40% range, up from its prior outlook, while forecasting an effective tax rate in the low-to-mid 20% range.
Regional and segment trends mixed Latin America revenue declined sequentially, driven primarily by Mexico, where activity came in below expectations as several wells were deferred and Weatherford’s largest customer in the country continued to prioritize spending, Saligram said. However, collections from that customer were strong, and the company has aligned its cost structure and footprint in Mexico to current activity levels.
During the Q&A, Saligram said Pemex appears to have reached “a point of stability,” adding that Weatherford is not betting on a major increase in activity but sees potential for mid-to-high single-digit growth in 2027 and beyond. Dhruv said the second quarter marked the third consecutive quarter of sizable collections from Pemex and said the company is cautiously optimistic that trend will continue.
In Europe, Sub-Saharan Africa and Russia, revenue grew sequentially on higher activity, though a labor strike in Norway affected activity late in the quarter and is expected to remain a headwind into the third quarter.
By segment, Weatherford said:
Well Construction and Completions revenue declined 5% year over year, primarily due to lower activity in the Middle East and North Africa, partly offset by higher completions activity in Latin America; Drilling and Evaluation revenue declined 13% year over year, mainly from lower wireline and drilling-related services activity in MENA, partly offset by higher managed pressure drilling activity in Europe, Sub-Saharan Africa and Russia; Production and Intervention revenue declined 3% year over year, primarily due to lower artificial lift activity in North America and Latin America. Contracts, NCS acquisition and redomestication plans Saligram highlighted several contract awards, particularly in deepwater markets. In Brazil, Weatherford received offshore well intervention and managed pressure drilling awards from Constellation Oil Services, Ventura Offshore and Valaris. In West Africa, Noble Corporation awarded multiple managed pressure drilling contracts and a global aftermarket agreement in Nigeria, while Esso Exploration and Production Nigeria awarded Weatherford a deepwater integrated completions contract. Chevron awarded a five-year framework contract in Australia for tubular running services, casing accessories and other tools tied to a deepwater development project.
Beyond deepwater, Saligram said Kuwait Oil Company awarded two five-year contracts for cementation products and completion services, while PTTEP awarded a 22-month downhole deployment valve contract in Thailand. Petroleum Development Oman awarded Weatherford a three-year integrated drilling services contract covering 247 wells in the Marmul Field.
Weatherford also discussed its definitive agreement to acquire NCS Multistage, which Saligram said expands the company’s completions portfolio and increases exposure to unconventional resources. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions. Weatherford expects at least $15 million of annual cost synergies within 18 months of closing.
Saligram said the deal is “at its core, a distribution play,” with NCS bringing differentiated technology and Weatherford offering a customer base across six continents. In response to analyst questions, he said the focus is less on increasing North American exposure and more on scaling NCS technologies globally, including in Argentina, the Middle East and other unconventional markets.
Saligram also updated investors on Weatherford’s proposed redomestication to the United States. A prior proposal to redomesticate to Texas received more than 60% support from votes cast but fell short of the 75% threshold required under Irish law. Weatherford has since introduced a proposal to redomesticate to Delaware, with special shareholder meetings scheduled for Sept. 3. The company continues to expect $20 million to $30 million of annual cash savings beginning in 2027, subject to approvals.
Management emphasizes margins and cash discipline Throughout the call, management emphasized that Weatherford would prioritize returns over lower-margin revenue. In response to Barclays analyst David Anderson, Saligram said the company recognizes that top-line growth is needed over the long term, but it will walk away from contracts that do not provide the right returns unless they offer strategic capability benefits.
Saligram said Weatherford sees a multi-year demand cycle forming around energy security, though the timing and pace have been affected by geopolitical events and demand uncertainty. He said national oil companies and governments are increasingly anchoring investment programs around security of supply, including gas programs, deepwater projects and domestic production initiatives.
“The recovery will be progressive, and we are managing the company accordingly,” Saligram said.
About Weatherford International (NASDAQ:WFRD) Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.
Silver (XAG/USD) edges up on Friday's early European trading session, returning to levels above $58.00 as the US Dollar trims some gains. The precious metal is set to a moderate recovery this week, but the risk-averse scenario triggered by the escalating conflict in the Middle East and the higher US Treasury yields triggered a 4.3% reversal on Thursday that leaves Silver vulnerable to further depreciation.
Market sentiment remains unfavourable, with Oil prices rallying and Brent crude drawing closer to the key $100 level, as reports of attacks on vessels in the Red Sea increased concerns about the blockade of another key corridor for Oil supply. Investors' fears that a new energy shock will boost inflation pressures have sent US Treasury yields to multi-month highs, pushing the US Dollar higher across the board and weighing on the yieldless precious metals.
Meanwhile, a report from Axios suggests that US President Trump would be pondering a "massive attack" on Iran that might further entangle the conflict, increasing demand for the safe-haven Greenback.
Technical Analysis: The reverse trendline has capped bears
XAG/USD trades at $58.33, holding within the last two weeks' horizontal range, with downside attempts supported above the broken trendline from June highs. Momentum indicators endorse the neutral near-term bias, with the Relative Strength Index (14) hovering around 51 and the Moving Average Convergence Divergence (MACD) holding slightly in negative territory, hinting that buying pressure is moderate rather than impulsive.
Bulls, however, will have to breach the top of the mentioned range, at the $60.70-$60.90 area, and the early July highs, around $62.50, to confirm a trend shift. On the downside, first support emerges at the broken trendline, now at $56.50, with additional protection at the year-to-date low of $54.77. Further down, the 127.2% Fibonacci retracement of the mid-June selloff at $50.26 emerges as the next target.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Dollar Index Price Chart – Source: Tradingview The USD Index remains positive after bouncing off the 100.50-100.60 support area and recapturing the 101.20 level. Current quotes around 101.33 sit above the 50-EMA (at 101.06) and the 100-EMA (at 100.97), which indicates buyers have been taking charge. The DXY’s rising trend line is continuing to act as support, and the current reading at RSI 60 suggests there is room for further upside, with no imminent signs of overbought conditions.
The first resistance is at 101.65, followed by 102.06 and then 102.42. On the lower side, the new support comes in at 101.20, with the 100.50 and 99.92 areas attracting buyers.
Provided DXY sustains above 101.20, the uptrend is on track and another leg higher towards 101.65-102.06 may be in the cards. The bullish perspective would fade if the DXY were to slide below 100.50 and open the way for further losses towards 99.92.
GBP/USD Technical Analysis: Bears Remain in Control Below Key Resistance
Old National Bancorp (NASDAQ:ONB) reported what management described as a record second quarter for 2026, citing strong loan growth, fee income gains, expense control and continued capital returns to shareholders.
Chairman and CEO Jim Ryan said the quarter reflected “an exceptional” performance for the company, including record adjusted earnings per share, record net income and a record efficiency ratio. He said Old National generated an adjusted return on average tangible common equity of about 20% and an adjusted return on assets of 1.39%.
“These results show what happens when we stay focused on the fundamentals,” Ryan said, pointing to high-quality relationship growth, disciplined credit and expense management, investments in talent and technology, and tangible book value growth.
Loan Growth and Pipeline Strength Drive Quarter Old National said end-of-period loans increased by $1 billion, or 8% annualized, during the quarter. Ryan said the increase was driven by “robust, high-quality commercial production.” Commercial production reached $3.5 billion, while the company’s period-end commercial pipeline rose to a record $5.6 billion.
John, who reviewed the company’s financial results on the call, said total loans grew 8.3% annualized from the prior quarter, with balanced growth across commercial real estate and commercial and industrial portfolios. He said production was diversified across the commercial book and was predominantly floating rate.
During the question-and-answer session, Tim said the company is beginning to see larger loan opportunities in its middle-market C&I business, particularly in growth markets. However, Ryan added that the average C&I loan in the bank remains below $1 million, underscoring that Old National still handles a large number of smaller commercial loans.
Management said loan growth expectations have improved, and the company now expects full-year loan growth of 6% to 8%, supported by year-to-date results and the current pipeline.
Fee Businesses Outperform Expectations Fee income was another area of strength. Ryan said the company saw broad-based gains across all fee businesses and described the diversification as intentional, saying Old National is seeking to build “a stronger, more balanced earnings engine” that is less dependent on net interest income.
Adjusted non-interest income was $140 million for the quarter, exceeding management’s guidance. John said all fee businesses performed better than expected. He noted that the “other income” line was elevated by approximately $10 million due to market value adjustments, higher bank-owned life insurance income and an asset recovery. While those items were described as core, John said the line should run closer to first-quarter levels for the rest of the year.
In response to an analyst question, John said wealth management has been “terrific,” investments have been good, mortgage performed solidly and capital markets remained strong. He said Old National is “reasonably bullish” on capital markets revenue because of the company’s commercial pipelines and production levels.
Looking longer term, John said aggregate fee income growth is likely a mid- to high-single-digit growth item, with some businesses, including wealth and capital markets, having potential to grow at double-digit rates.
Expenses Controlled as Efficiency Ratio Hits Record Old National reported GAAP second-quarter earnings per share of $0.65. Excluding $12.1 million in merger-related expenses and a $13.2 million valuation gain tied to the settlement of the Bremer pension plan, adjusted earnings per share were also $0.65.
Adjusted non-interest expense totaled $360 million. John said expenses remained well controlled and drove positive operating leverage both sequentially and year over year. Ryan said the company’s adjusted efficiency ratio was 45.2%, marking the seventh straight quarter of positive year-over-year operating leverage.
Ryan said Old National is investing in technology, artificial intelligence and process improvements to make the company more scalable while maintaining expense discipline.
Net Interest Income Outlook Holds Steady Management left net interest income guidance unchanged, while noting it had been updated for the impact of a subordinated debt issuance. John said second-quarter net interest margin was affected by two basis points from the full-quarter impact of subordinated debt issued in late January and lower SOFR rates. Without those factors, he said the margin would have been up slightly.
John said net interest income growth should be supported by strong asset generation, stable funding costs, fixed-asset repricing and earning-asset remix opportunities. He said new money yields on securities are running about 100 basis points above back-book yields, while fixed-to-fixed loan repricing offers about 60 basis points of opportunity.
During the Q&A, John said management sees “more opportunities than challenges” in the second half of the year, citing higher average earning assets, repricing opportunities, the potential for SOFR to become a tailwind, remix opportunities and additional calendar days in both the third and fourth quarters.
Old National said total deposits increased 3.4% annualized, led by commercial and public fund growth, partly offset by seasonal retail tax outflows. Non-interest-bearing deposits remained 23% of total deposits. John said total deposit costs decreased by one basis point during the quarter, even as the company continued to pursue new client acquisition in a competitive deposit environment.
Credit and Capital Remain Management Priorities Credit quality improved in several areas. Ryan said non-accrual loans declined by $50 million, or 10%, from the prior quarter. John said non-accrual loans fell to 91 basis points of total loans, while criticized and classified loans decreased by $109 million during the quarter.
Net charge-offs were 26 basis points, or 22 basis points excluding charge-offs on purchased credit deteriorated loans. John said the allowance for credit losses to total loans, including the reserve for unfunded commitments, was 121 basis points, down one basis point from the prior quarter, primarily due to charge-offs on PCD loans and improved credit quality.
Old National’s capital position remained strong. The company’s CET1 ratio was 11.09%, and tangible book value per share increased 14% year over year. John said tangible book value per share grew 11% annualized from the prior quarter, even as the company absorbed Bremer-related charges, supported better-than-expected balance sheet growth and returned capital.
The company returned $163 million to shareholders in the quarter through dividends and share repurchases. That included $107 million of common stock repurchases, representing 4.4 million shares. John said Old National has $277 million remaining under its buyback program and expects to use the remaining authorization opportunistically through the plan period ending in February 2027.
Asked about capital levels, John said the company is comfortable with its position and has enough capital to support organic growth while continuing capital returns. Ryan said the company is balancing organic investment, tangible book value growth, strong capital ratios and shareholder returns.
Ryan closed by saying Old National does not need to rely on acquisitions to meet its goals and remains focused on organic growth, client relationships, investments in people and platforms, risk management and long-term shareholder value.
About Old National Bancorp (NASDAQ:ONB) Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.
In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PNFP over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Gates Industrial (NYSE:GTES – Get Free Report) will likely be announcing its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect Gates Industrial to post earnings of $0.40 per share and revenue of $925.4410 million for the quarter. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Individuals are encouraged to explore the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Friday, July 31, 2026 at 10:00 AM ET.
Gates Industrial (NYSE:GTES – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, analysts expect Gates Industrial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Gates Industrial Stock Down 1.4% Shares of NYSE GTES opened at $27.02 on Friday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 28.14 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. Gates Industrial has a 52-week low of $20.88 and a 52-week high of $29.17. The business’s 50 day moving average is $26.42 and its two-hundred day moving average is $25.24.
Institutional Inflows and Outflows Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in Gates Industrial by 5.9% during the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after purchasing an additional 461,160 shares during the period. Corient Private Wealth LLC raised its position in Gates Industrial by 9.3% in the 4th quarter. Corient Private Wealth LLC now owns 190,929 shares of the company’s stock valued at $3,890,000 after purchasing an additional 16,219 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Gates Industrial in the 4th quarter valued at about $402,000. Mackenzie Financial Corp boosted its stake in shares of Gates Industrial by 17.7% in the 4th quarter. Mackenzie Financial Corp now owns 844,064 shares of the company’s stock valued at $18,381,000 after buying an additional 126,847 shares during the period. Finally, XTX Topco Ltd grew its position in shares of Gates Industrial by 529.5% during the fourth quarter. XTX Topco Ltd now owns 255,562 shares of the company’s stock worth $5,487,000 after buying an additional 214,965 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth A number of equities research analysts have recently weighed in on GTES shares. Robert W. Baird dropped their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Morgan Stanley raised their target price on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Barclays cut their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.36.
Read Our Latest Stock Analysis on GTES
Gates Industrial Company Profile (Get Free Report)
Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.
In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.
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Badger Meter (NYSE:BMI) reported lower second-quarter 2026 sales and earnings from the prior year, but management said revenue improved sequentially as previously awarded advanced metering infrastructure projects began shipping and reaffirmed its expectation for improving quarterly revenue through the rest of the year.
Chief Financial Officer and Treasurer Dan Weltzin said total sales for the quarter were $222.3 million, down 7% year-over-year. Excluding about $2 million in sales from UDlive, which Badger Meter acquired on May 1, base sales declined 7.5% from the prior-year period. However, base sales rose 9% from the first quarter, which management said reflected initial shipment ramps on several awarded projects.
Chairman, President and Chief Executive Officer Ken Bockhorst said the results were in line with expectations. “As expected, we delivered sequentially improved sales in the second quarter as a number of our previously awarded AMI projects began initial ramping of shipments,” he said. He added that the company saw “a modest increase” in short-term order rates and in flow instrumentation.
Utility Water Sales Decline, Flow Instrumentation Grows Weltzin said utility water sales declined 8% year-over-year, or 9% excluding the acquisition, due to the project pacing dynamics the company has been discussing. Lower AMI-related product revenue was partially offset by higher software and growth in what the company calls beyond-the-meter offerings. On an organic basis, utility sales increased 8% sequentially.
Flow instrumentation sales rose 6% from a year earlier, supported by broad-based water application demand. In the question-and-answer session, Bockhorst said the company benefited from orders tied to data center applications, including clamp-on meters and magnetic meters used for cooling towers and flow monitoring. However, he cautioned that the business should still be viewed as having “GDP-like” growth over the company’s five-year strategic horizon.
The company also confirmed that product shipments for the PRASA project have begun. Bockhorst said several other awarded projects have also started, and that the overall cohort of nine previously discussed awarded projects “feels like it’s pretty solid at this point.” Management declined to provide individual project-level details.
Margins Hold Within Range Despite Lower Volumes Operating earnings declined 12% year-over-year, and operating margin fell 110 basis points to 17.7%. Excluding UDlive, base operating margin was 18.4%, down 40 basis points from the year-ago quarter.
Gross margin was 40.8%, down 30 basis points from the second quarter of 2025. Weltzin attributed the decline primarily to lower sales volumes and project mix, but said gross margins remained in the upper half of the company’s normalized range, reflecting “the resiliency of our overall structural mix and pricing discipline.”
Selling, engineering and administrative expenses totaled $51.4 million, down $1.6 million from the prior year. Weltzin said spending controls, lower incentive compensation and cost containment actions more than offset about $3 million of year-over-year spending tied to UDlive and transaction-related costs. The company expects UDlive intangible asset amortization of approximately $5 million annually.
Diluted earnings per share were $1.02, down from $1.17 a year earlier. The effective tax rate was 25.2%, compared with 24.5% in the prior-year quarter.
Cash Flow Lower; Buybacks Continue Free cash flow was $21.9 million, down from $40.6 million in the prior-year quarter. Weltzin cited lower earnings and temporary increases in working capital. Primary working capital as a percentage of sales rose to 22.9% from 20.0% at the end of the prior quarter.
Weltzin said the increase in receivables was related to revenue timing, while inventory levels were above average due to revenue pacing dynamics. He said the company expects to work down inventory through the fiscal year and remains focused on full-year cash flow conversion in excess of 100% of net earnings.
During the quarter, Badger Meter repurchased 204,000 shares for $25.3 million. Weltzin said the company has about $90 million remaining under its current share repurchase authorization and has deployed roughly $80 million in buybacks over the past three quarters. The company also renewed a five-year, $150 million credit facility, which remains undrawn.
Management Reaffirms Full-Year Organic Revenue Outlook Management reaffirmed its outlook for sequential improvement in base quarterly revenue for the balance of 2026. Excluding UDlive, Badger Meter continues to expect full-year organic revenue to be “flat-ish” with 2025 levels.
Bockhorst emphasized that the outlook should not be interpreted as perfectly flat, citing variability in project ramping and short-term order patterns. He said year-over-year base sales growth is expected to be heavily weighted toward the fourth quarter because it represents the company’s easiest comparison.
On short-cycle demand, Bockhorst said the first quarter was an outlier and that second-quarter order rates were “more normal-ish” and typical of the operating environment. He said a higher daily turn rate of orders in the second quarter, combined with project activity, supports the company’s full-year stance.
Management also discussed electronic component cost and availability pressures driven by demand from artificial intelligence and data center build-outs. Weltzin said the company has been able to mitigate the impacts to date, but the pressures are not easing. Bockhorst said Badger Meter has managed similar supply chain challenges before and remains positioned to work through them.
Customer Interest Remains Focused on AMI and Software Bob Wrocklage, Executive Vice President of North America Municipal Utility, said feedback from the AWWA ACE 2026 trade show in Washington, D.C., remained constructive. He said utilities continue to prioritize modernization, efficiency and visibility across water and wastewater networks.
Wrocklage said discussions with consultants and customers focused on both hardware and software components of the company’s Network as a Service offerings, including network resiliency, dynamic multi-carrier SIM technology and the ORION Lens endpoint solution for metal pit lids. He also cited interest in EyeOnWater Premium, the BEACON Field app and Badger Meter’s embedded AI functionality, Cobalt.
Management said the company is continuing to educate utilities on stormwater and sewer line applications through SmartCover and UDlive. Bockhorst said the company’s confidence in the long-term outlook remains intact, supported by replacement demand, AMI adoption, recurring software, beyond-the-meter technologies and acquisitions.
About Badger Meter (NYSE:BMI) Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.
The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.
Deckers Outdoor delivered a solid quarter with 5.7% YoY revenue growth, led by Hoka (+7.7%) and UGG (+4.9%). Despite a 12.7% SG&A increase pressuring operating income, DECK's gross margin improved to 56.4%, and international sales rose 8.4%. At a P/E of 13x, DECK offers compelling value, especially given its growth profile, strong balance sheet, and optionality in underpenetrated markets.
Cal-Maine Foods (NASDAQ:CALM) reported a sharp decline in fourth-quarter results as historically low conventional shell egg prices weighed on revenue and margins, while management emphasized progress in diversifying the company through specialty eggs and prepared foods.
President and CEO Sherman Miller said the company faced “one of the most difficult conventional egg pricing environments” it has experienced, driven by industry oversupply rather than weaker demand. He said the company continues to see favorable long-term demand fundamentals for eggs, citing household penetration above 97%, higher retail volume as prices have retreated, and continued consumer interest in protein, nutrition, convenience and value.
For the fourth quarter of fiscal 2026, Cal-Maine reported consolidated revenue of $552.6 million, down 49.9% from the prior-year period. Gross profit was $34.1 million, with a gross margin of 6.2%. The company posted an operating loss of $58.8 million and a net loss attributable to Cal-Maine Foods of $35.9 million, or a diluted loss of $0.76 per share.
New Segment Structure Highlights Shift in Business Mix Vice President and CFO Max Bowman said Cal-Maine revised its internal reporting in the fourth quarter to reflect how management now reviews the business. The company identified three reportable segments: Conventional Shell Eggs, Specialty Shell Eggs and Prepared Foods. Prior-year periods have been recast under the new structure.
The conventional shell egg segment generated fourth-quarter revenue of $210.8 million, down 70% year over year, with an operating loss of $40.6 million. Bowman said the segment reflected a pricing environment that declined steadily through fiscal 2026 and reached historically low inflation-adjusted levels in the fourth quarter.
The specialty shell egg segment reported fourth-quarter revenue of $239.7 million, down 21.4% from the prior year, with operating income of $17.5 million and an operating margin of 7.3%. Prepared foods revenue was $60.4 million, with operating income of $8.8 million and a 14.6% operating margin.
For the full fiscal year, consolidated revenue was $2.912 billion, down 31.7% from the prior year. Net income attributable to Cal-Maine Foods was $316.7 million, or $6.63 per diluted share. Conventional shell eggs generated full-year revenue of $1.348 billion and operating income of $216.6 million. Specialty shell eggs generated $1.070 billion in revenue and $181.5 million in operating income. Prepared foods generated $244.8 million in revenue and $33.9 million in operating income.
Management Points to Oversupply, Not Demand Weakness Miller said industry supply conditions remained elevated, referencing commentary from the American Egg Board and Urner Barry. He said the American Egg Board estimated the U.S. laying flock at 340 million to 347 million hens based on producer assessment data, materially above USDA’s published estimate.
However, Miller said early indicators suggest the market may be starting to rebalance, including slowing breeder activity, increased chick cancellations, softer hatchery demand and more aggressive flock rotations. If accurate, he said those developments are likely to tighten supply in the near term and could suggest moderation over coming quarters.
During the question-and-answer session, Miller said Cal-Maine’s conventional pricing arrangements remained steady, with about half of the business tied to market pricing and the other half tied to grain-based or hybrid structures. He said the company’s market realization was 102% of the Urner Barry market in the quarter, but the benchmark itself was at an “all-time low inflation-adjusted” level.
Miller also said highly pathogenic avian influenza remains an uncertainty, citing recent layer outbreaks in the U.S., continued presence in the U.S. dairy herd and outbreaks in Australia and South Korea. He said the issue should not be considered “a problem of the past.”
Prepared Foods Remains a Growth Focus Management highlighted prepared foods as a key part of Cal-Maine’s strategy to reduce earnings cyclicality and expand into higher-value consumer-facing markets. Prepared foods accounted for 10.9% of consolidated net sales in the fourth quarter and 8.4% for fiscal 2026. Combined specialty eggs and prepared foods represented 53% of fourth-quarter net sales and 44.4% of full-year net sales.
Miller said the company completed several strategic moves during fiscal 2026, including the acquisition of certain assets of Creighton Brothers LLC and affiliates, as well as the Van’s Foods brand acquisition. Subsequent to fiscal year-end, Cal-Maine also expanded its Eggland’s Best franchise territory in the Northeast.
The company announced a new $54 million investment to expand prepared foods production capacity, which Miller said is expected to add about 30% incremental capacity to the segment beginning in the first half of fiscal 2028. Together with previously announced organic capacity growth and capacity added through the Van’s acquisition, management expects prepared foods production capacity to increase more than 60% from the end of fiscal 2026 through the first half of fiscal 2028.
John Zoeller, CFO of Prepared Foods, said previously announced capacity additions for pancakes, scrambled eggs and Crepini products remain on track, with some capacity expected to come online in fiscal 2027 and additional growth continuing into fiscal 2028. He said the newly announced $54 million investment is expected to begin contributing around mid-fiscal 2028.
Balance Sheet, Buybacks and Dividend Policy Bowman said Cal-Maine ended the quarter with $924.1 million in cash and temporary cash investments and remained virtually debt-free. Net cash flow from operations for the quarter was $2.8 million, down 99.3%.
The company repurchased 396,083 shares during the quarter for $30.1 million. Bowman said $320.7 million remains available under the company’s $500 million share repurchase authorization.
Under Cal-Maine’s variable dividend policy, the company will not pay a cash dividend for the fourth quarter or for any subsequent profitable quarter until it is profitable on a cumulative basis from the most recent quarter for which a dividend was paid. As of May 30, 2026, Bowman said the cumulative loss to be recovered before payment of a dividend was $35.9 million.
Company Sees Improving Conditions Beyond Early Fiscal 2027 Looking ahead, Miller said market prices averaged $0.72 during the first five weeks of the first quarter of fiscal 2027, about 54% below the comparable period in the fourth quarter of fiscal 2026. He described that period as part of the seasonal trough typical of June and July.
More recently, Miller said pricing had strengthened by more than 90% in only a few weeks. He said early indications point to an improving supply-demand balance and a more constructive egg pricing environment heading into the fall, historically a seasonally stronger period.
Miller said Cal-Maine’s long-term strategy is not dependent on any single market environment. He said the company remains focused on disciplined capital allocation, operational execution, specialty egg growth and building a prepared foods platform that extends its egg-focused business into additional product formats and consumption occasions.
About Cal-Maine Foods (NASDAQ:CALM) Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.
Pegasystems (NASDAQ:PEGA) executives said the company faced a challenging first half of 2026 as customer uncertainty around artificial intelligence, a back-half-weighted renewal portfolio and go-to-market execution issues weighed on annual contract value growth.
On the company’s second-quarter earnings call, Founder and CEO Alan Trefler said the software market is undergoing a “fundamental transformation driven by AI,” but that the shift has also created confusion for enterprise buyers. He said organizations are reassessing how software should be designed, built and operated as AI pricing models evolve from low-cost or free access toward usage-based token pricing.
“This cost uncertainty is leading many organizations to sort of freeze and try to figure out what’s going on and take a more deliberate approach to technology investments,” Trefler said. He added that decision cycles have lengthened as customers seek clarity on AI strategies and the potential variability of token costs.
ACV Growth Slows as Customers Delay Decisions COO and CFO Ken Stillwell said annual contract value, or ACV, remains one of Pegasystems’ most important operating metrics because it provides a clearer view of business momentum in a subscription model.
Pega Cloud ACV increased by $165 million year over year, growing 22% both as reported and in constant currency. Stillwell said the cloud business remains the fastest-growing and most important part of the company’s subscription model, although growth moderated from 27% in constant currency at the end of the prior quarter.
Total ACV grew 7% as reported and 8% in constant currency year over year, with gains in Pega Cloud offset by decreases in maintenance ACV and subscription license ACV. Stillwell said Pega Cloud now represents 57% of total ACV and could ultimately reach approximately 75% of the total over time.
Stillwell identified three primary reasons for the slower first-half performance:
A renewal portfolio that is significantly weighted toward the second half of the year, limiting first-half expansion opportunities. Customer uncertainty caused by rapid changes in the software market and AI economics. Slower-than-expected execution on go-to-market changes intended to deepen engagement with clients and prospects. Because a meaningful portion of Pegasystems’ net new ACV comes from cross-selling and upselling into its existing customer base, fewer renewal opportunities in the first half naturally resulted in fewer expansion opportunities, Stillwell said.
Executives Say Pipeline Remains Active Despite Longer Sales Cycles In response to analyst questions, Stillwell said Pegasystems is not seeing customers abandon transformation projects or disengage from the company. Instead, he said many opportunities have elongated rather than disappeared.
“A lot of those pipeline deals in Q2 just didn’t close,” Stillwell said. “They elongated.” He said the company’s pipeline is growing and that late-stage pipeline is “very strong” compared with last year, but acknowledged that the duration of customer uncertainty is difficult to predict.
Trefler said the company saw “movement” in customer conversations after a period of heightened uncertainty in the second quarter. He said customers are still trying to determine how AI fits into their future technology plans, but added that many have “serious things they need to get done.”
Stillwell said Pegasystems had assumed that one-third of its full-year net new ACV additions would occur in the first half of 2026 and two-thirds in the second half. He said the company underachieved that first-half expectation and will work to recover as much of the shortfall as possible, though he described that task as “very difficult.”
Pegasystems Emphasizes AI Cost Predictability A central theme of the call was Pegasystems’ positioning around AI costs. Trefler argued that enterprises are becoming more concerned about opaque token consumption, particularly “reasoning tokens” used internally by large language models. He said these costs can become unexpectedly expensive when AI agents reason through processes repeatedly at runtime.
Pegasystems is emphasizing an alternative approach that uses AI heavily at design time through Pega Blueprint AI, then runs structured workflows predictably at scale with selective AI use at runtime. Trefler compared the approach to a restaurant that designs recipes in advance rather than reinventing every dish for each customer.
“Our goal is simple,” Trefler said. “Help our clients avoid AI chaos and the mess that comes from it by delivering predictable outcomes at predictable costs.”
Stillwell said Pegasystems does not charge customers per token. Instead, he said the company’s AI monetization strategy is based on business value created on the Pega platform. Blueprint is intended to make it faster for customers to create and deploy applications, while advanced AI-powered runtime capabilities can carry a case price uplift.
New Infinity Studio Release Extends Blueprint Trefler highlighted the release of Pega Infinity 2026 and the introduction of Infinity Studio, which he said extends Blueprint AI from design into application development, deployment and ongoing evolution. He said the release allows Pega Cloud and client cloud customers to use Blueprint AI to deploy new applications and improve existing ones.
He said Pegasystems initially focused Blueprint on new customers and new applications, but Infinity 2026 makes the technology available to help existing customers reimagine and modernize current Pega applications. Trefler called Infinity Studio “a really big deal” and said the company will roll it out aggressively through the rest of the year.
Executives also discussed the company’s use of Model Context Protocol, or MCP. Trefler said every workflow in Pega is automatically available through MCP in Infinity 2026, allowing agents built on other platforms to find and invoke Pega workflows.
Free Cash Flow, Buybacks and 2028 Target Despite slower ACV growth, Stillwell emphasized Pegasystems’ cash generation. The company generated $288 million of free cash flow in the first half of 2026, which he described as a record. He said strong cash generation provides flexibility for capital allocation.
In the first half, Pegasystems repurchased 9 million shares for more than $360 million under prior authorizations. Stillwell said the cash spent on repurchases represented well over 100% of free cash flow generated during the period, and that total common shares were reduced by 6 million in the first half.
The company reiterated its expectation to generate more than $700 million of free cash flow in 2028. Stillwell said slower ACV growth in the first half of 2026 does not change that objective, but it will require the company to reevaluate certain investment priorities. He cited cloud scale, mix shift, sales productivity, gross margin improvement and disciplined investment prioritization as levers supporting the target.
Asked about the company’s free cash flow outlook for 2026, Stillwell said any ACV shortfall would put pressure on the company’s ability to reach its $575 million free cash flow outlook for the year, though he said Pegasystems continues to see cash flow durability in the business.
Trefler closed the call by acknowledging the challenging environment but said the company has navigated major technology and market shifts before. “We have a really good understanding of how to react strongly but smartly,” he said.
About Pegasystems (NASDAQ:PEGA) Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.
The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.
Portland General Electric (NYSE:POR – Get Free Report) will likely be issuing its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect the company to post earnings of $0.71 per share and revenue of $847.5980 million for the quarter. Interested persons can check the company’s upcoming Q2 2026 earning results page for the latest details on the call scheduled for Friday, July 31, 2026 at 11:00 AM ET.
Portland General Electric (NYSE:POR – Get Free Report) last announced its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect Portland General Electric to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Portland General Electric Trading Down 1.0% Shares of POR stock opened at $52.41 on Friday. The company has a market capitalization of $6.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.22 and a beta of 0.52. Portland General Electric has a 12-month low of $39.73 and a 12-month high of $54.62. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $50.98 and a 200 day moving average price of $51.26.
Analyst Upgrades and Downgrades POR has been the subject of a number of research analyst reports. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research note on Tuesday, April 21st. BMO Capital Markets decreased their price target on Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Wednesday. Zacks Research cut Portland General Electric from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price objective on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $50.90.
View Our Latest Research Report on POR
Insider Activity In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total value of $367,725.00. Following the completion of the sale, the chief financial officer directly owned 31,897 shares in the company, valued at $1,563,909.91. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Hoglund bought 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the transaction, the director owned 2,519 shares in the company, valued at approximately $122,927.20. This trade represents a 385.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.52% of the company’s stock.
Institutional Trading of Portland General Electric Several institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new position in shares of Portland General Electric in the 3rd quarter worth $27,000. Northwestern Mutual Wealth Management Co. lifted its stake in Portland General Electric by 272.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock valued at $35,000 after buying an additional 526 shares during the period. IFP Advisors Inc lifted its stake in Portland General Electric by 61.7% in the third quarter. IFP Advisors Inc now owns 1,080 shares of the utilities provider’s stock valued at $48,000 after buying an additional 412 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Portland General Electric by 18.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,469 shares of the utilities provider’s stock worth $71,000 after buying an additional 226 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Portland General Electric by 202.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,816 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,216 shares during the period.
About Portland General Electric (Get Free Report)
Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.
As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.
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Nejvýraznější růst si v úvodu obchodování připisují akcie Gevorkyanu (+2,20 %), Monety Money Bank (+1,17 %) a Kofoly (+1,00 %). Moneta Money Bank zveřejnila své hospodářské výsledky za 2Q 2026. Čistý zisk za 2Q dosáhl 1,8 mld. Kč a management o 200 mil. Kč navýšil celoroční výhled. Výsledky hodnotíme neutrálně.
Nejvíce momentálně oslabují akcie CSG (-3,69 %), ČEZ (-1,04 %) a Komerční banky (-0,10 %).
Uniswap has introduced Permissioned Pools, a new hook standard for its v4 protocol designed to enable compliant trading of regulated and permissioned assets through automated market makers (AMMs).
The new infrastructure allows tokenized funds, securities, equities and other assets with transfer restrictions to trade on-chain while enforcing compliance requirements directly at the protocol level.
Uniswap developed Permissioned Pools in collaboration with teams working to bring regulated assets on-chain, the team stated in a Thursday blog post. Launch partners include Superstate, Securitize and Dowgo, alongside a growing group of issuers and platforms exploring compliant access to on-chain markets.
“As more regulated assets move on-chain, issuers need infrastructure that can enforce each asset’s compliance rules,” Uniswap wrote.
Permissioned Pools are programmed to verify a user's eligibility directly on-chain. Issuers maintain control of an allowlist, while approved users can trade assets and provide liquidity through Uniswap v4.
Permissioned Pools use allowlists to enforce complianceThe system uses Uniswap v4 hooks to add compliance functionality to standard liquidity pools without changing the protocol's permissionless nature.
A permissioned hook checks an issuer-managed allowlist whenever a user attempts to swap an asset. It also verifies eligibility before users can create liquidity positions. This means only approved addresses can trade or provide liquidity for assets subject to transfer restrictions.
Permissioned Pools are designed for tokens that require approved addresses to hold or trade them, thereby ensuring that liquidity providers meet compliance requirements.
Under the architecture, a Permissions Adapter holds the underlying permissioned asset, while the pool trades a compatible wrapper token. Assets entering the pool are wrapped, while those exiting leave unwrapped. The Universal Router and Permissioned Position Manager handle these processes, reducing the changes required for integrations.
The architecture also prevents users from bypassing compliance through indirect routes. Disallowed addresses cannot gain exposure to the underlying permissioned asset through multi-hop transactions. At the same time, liquidity position NFTs are non-transferable to prevent allowlist restrictions from being circumvented.
The issuer can also halt swaps and unwind liquidity positions when required. The system remains non-custodial, with funds leaving the pool only through permitted swaps, liquidity withdrawals or claim redemptions.
Uniswap targets institutional adoption of tokenized assetsUniswap said Permissioned Pools give issuers a way to access AMM liquidity and DeFi composability without abandoning regulatory controls. Approved investors can also gain direct on-chain trading access to assets that previously could not be traded through AMMs.
“For approved investors, it means direct on-chain trading for assets that previously couldn't trade on an AMM at all,” Uniswap stated.
The team emphasized that the protocol itself remains permissionless. The company also shared that the new standard is intended to provide the market infrastructure needed for the next phase of tokenization.
The launch comes as the tokenized asset market continues to expand and gain industry-wide attention, with the sector estimated to reach $11 trillion by 2030.
UNI is trading at $3.75, down 0.5% over the past 24 hours at the time of writing.
After its spectacular launch rally, Cash Cat is still losing ground; the token is currently trading at $0.046. The daily chart clearly shows that sellers are now in charge, as speculative buying pressure has virtually completely vanished. CASHCAT did not establish any significant consolidation after its initial surge toward the $0.20 region. Instead, a textbook downtrend has been created as each attempt at recovery has resulted in a lower high.
This structure is reinforced by the most recent candle sequence, which shows that buyers were unable to withstand even the brief recovery toward $0.08. The chart's lack of accumulation following the collapse is among its most alarming features. Violent sell-offs of strong meme assets are frequently followed by protracted sideways trading as new buyers enter the market.
CASHCAT/USDT Chart by TradingViewCASHCAT does not yet exhibit that behavior. Rather, the price keeps printing lower lows while daily volatility progressively decreases, indicating a decline in the activity of both buyers and sellers. Momentum indicators are still not very good. The token is kept below the neutral 50 level by the RSI, which is currently at 41.
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Although this reading is no longer oversold, it also shows no signs of a resurgence of bullish momentum. Every bounce runs the risk of turning into another brief relief rally rather than the start of a long-term reversal until the RSI rises back above 50.
Currently, the main resistance zone is located between $0.06 and $0.08. Before it broke sharply, that area served as short-term support, so if the price rises, sellers are probably waiting there to sell their positions. The first technical indication that bears are starting to lose control would be reclaiming that range. The present lows around $0.045 are becoming more significant on the downside.
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A clear breakdown below them would expose CASHCAT to yet another wave of price discovery lower, since the token would have no historical support. Even though long upper wicks occasionally indicate speculative buying attempts, the structure as a whole is still bearish.
Although buyers frequently fail to sustain higher prices by the daily close, those spikes show that liquidity is still present. It seems likely that CASHCAT will continue to face pressure unless meme coin sentiment across the market significantly improves. Before any discussion of a wider trend reversal is technically warranted, bulls must set a higher low and recover the $0.06–$0.08 zone.
Solana's stabilization effort After months of weakness, Solana is trying to stabilize, trading at about $76 and progressively forming a string of higher lows. Heavy resistance overhead continues to limit the broader trend, despite the chart's notable improvement since June's steep decline toward the low-$60 area.
The relationship between price and the shorter moving averages is the most promising development. Both the 26-day and 50-day exponential moving averages have been successfully recovered by SOL, and they are now serving as dynamic support. The price has been consolidating above those levels for a number of sessions, suggesting that buyers are protecting recent gains rather than taking quick profits. The wider picture is still difficult, though.
SOL/USDT Chart by TradingViewThe 100-day EMA is currently close to $80 and has consistently rejected attempts to rise throughout July. The 200-day EMA at $93 is still sloping downward even higher, highlighting the fact that the longer-term trend has not yet returned to bullish territory. Solana might benefit from the current $76 consolidation.
The price is moving sideways while allowing moving averages to compress below, rather than extending vertically into resistance. If buying volume eventually reappears, this frequently lays the groundwork for a more forceful breakout attempt. The RSI is consistent with that interpretation. The indicator is close to 51, which is nearly neutral. This implies that momentum has bounced back from negative conditions without overheating. Before momentum enters overbought territory, bulls still have room to move higher.
The area between $80 and $84, where the declining 100-day EMA intersects with earlier horizontal resistance, continues to be the center of immediate resistance. Reaching the $90 area, which is psychologically significant, would probably lead to a resurgence of optimism. The shorter moving averages are currently converging at $73–$74, where support has strengthened.
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The recent recovery would be weakened if that area were lost, and SOL might return to the mid-$60 range. During the most recent consolidation, volume has progressively decreased, which is quite common following a recovery rally. Before anticipating a clear breakout, traders will probably wait for a discernible rise in buying activity. Compared to earlier this summer, Solana's technical picture has significantly improved overall.
The asset has developed a positive base and is no longer in freefall. However, the recovery should be seen as an improving consolidation rather than the start of a confirmed long-term uptrend until SOL firmly breaks through the $80–$84 resistance zone.
XRP's difficult periodXRP has already encountered difficulties in its most recent breakout attempt. Sellers swiftly intervened and drove the asset back below the breakout level after it momentarily pushed above the upper boundary of its ascending triangle. The rejection implies that buyers are still not convinced enough to buck the general downward trend. Right now, XRP is trading at about $1.13, which is nearly exactly where several short-term moving averages converge.
XRP/USDT Chart by TradingViewThe 50-day and 100-day moving averages are still higher at $1.16-$1.24, forming a dense supply zone, while the 26-day EMA is serving as immediate resistance. Upside is probably going to be restricted until XRP clears that cluster. Following the unsuccessful breakout, the daily RSI has fallen back below the neutral 50 level, indicating waning momentum.
An indication that bulls are having trouble attracting new capital is the volume, which has remained comparatively muted. The rising trendline that supported the most recent consolidation is still the crucial level to watch on the downside.
With psychological support at $1.00 becoming more crucial, a decisive daily close below it might invalidate the entire recovery structure and expose XRP to another move toward the $1.05 area. On the other hand, recovering $1.16 would boost confidence and restore access to the 50-day moving average.
Dogecoin's key weaknessDogecoin still appears to be substantially weaker than the majority of large-cap cryptocurrencies. The meme coin is trading close to $0.070, just above recent local lows, and it is still well below all of the daily chart's major moving averages. There is not much room for optimism in the technical structure.
The 50-day, 100-day, and 26-day moving averages are all trending above the price, indicating that sellers are still in charge across all significant time periods. In contrast to XRP, DOGE has been grinding sideways following a protracted decline rather than establishing any convincing higher-low pattern.
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The same weakness can be seen in momentum indicators. The RSI is below 40, a sign of bearish momentum that has not yet reached extremely oversold levels. If selling pressure picks up speed, that allows for an additional leg lower.
Additionally, compared to the peaks observed during earlier rallies, volume has significantly decreased, indicating that speculative interest has essentially vanished. In the absence of new demand, recovery efforts are likely to be sold into. Recovering the 26-day EMA at $0.075 is the first obstacle for buyers.
Stronger resistance emerges above that, close to the 50-day moving average at $0.078. If the current range is not maintained, DOGE may move toward the psychological $0.065 level, which would represent yet another major decline in its long-term structure. DOGE currently has one of the weakest-looking charts among major cryptocurrencies.
Following an early surge, Cash Cat has continued its downward trajectory, currently trading at $0.046. The daily price chart indicates persistent selling, with buyers retreating and speculative demand all but disappearing. The token failed to establish any meaningful base after its initial rally toward $0.20, instead forming a clear downtrend as every rebound produced a lower high.
Cash Cat struggles to find supportRecent trading sessions show that even minor recovery efforts, such as a move toward $0.08, met immediate resistance, and buyers were unable to sustain upward momentum. Unlike many meme tokens, where intense sell-offs are usually followed by a period of sideways movement as new buyers accumulate, CASHCAT continues to record lower lows. Daily fluctuations are narrowing, and both buying and selling activity appears to be fading.
Technical indicators provide little optimism. The relative strength index (RSI) remains below the neutral 50 mark, sitting at 41. While this is not an oversold level, it also does not point to any budding bullish momentum. For sustained recovery, the RSI would need to rise above 50 and see prices reclaim the resistance zone between $0.06 and $0.08.
Every rally attempt so far has failed to break resistance, and unless the price overcomes the $0.06–$0.08 area, sellers are likely to stay in control.
If Cash Cat slips below the current local support near $0.045, it could trigger a new drop, as there is no clear historical support at lower levels. Occasional speculative spikes show that liquidity is present, but buyers often cannot hold gains into the close. Until market sentiment surrounding meme coins shifts, sellers are expected to retain control.
Solana’s gradual recovery stalls at moving averagesSolana has attempted to stabilize after several months of weakness, consolidating around $76 and shaping a series of higher lows. Although the downtrend that started with June’s decline toward $60 has given way to some price stability, stiff resistance remains overhead.
The most notable development is Solana’s recovery of its 26-day and 50-day exponential moving averages, which now provide dynamic support. Price has lingered above these levels, indicating that recent gains are being defended. However, more significant resistance at the 100-day EMA—currently around $80—has repeatedly capped upward movement, while the longer-term 200-day EMA at $93 continues to slope downward, highlighting an unconfirmed long-term reversal.
The sideways price action gives moving averages time to converge and may support a breakout attempt if buying returns in force. Solana’s RSI stands at 51, signaling that momentum has rebounded from lows but is not yet overbought. This leaves some room for further upside should bullish sentiment return.
Moving AverageCurrent LevelStatus26-day EMA$74Support50-day EMA$74Support100-day EMA$80Resistance200-day EMA$93Downtrend ResistanceNear-term resistance is concentrated between $80 and $84, coinciding with the declining 100-day EMA and previous price ceilings. A break above this region could open the door to $90, a critical psychological level. Meanwhile, support has formed at $73–$74, where the shorter moving averages are converging; losing this area could put $60s back in play. Volume has decreased during the recent consolidation, typical after a rebound. Solana’s structure is stronger than in early summer, but a confirmed uptrend hinges on overcoming the $80–$84 zone.
XRP attempts breakout, faces seller pressureXRP’s bullish momentum faltered quickly after briefly breaching the upper edge of its ascending triangle pattern. Sellers pushed the price back below breakout levels, indicating that buyers remain hesitant. At the moment, XRP trades near $1.13, close to a cluster of short-term moving averages.
The 26-day EMA acts as immediate resistance, with the denser 50-day and 100-day moving averages at $1.16 to $1.24 creating a challenging supply zone above. The daily RSI has also slipped below the neutral midpoint as positive momentum fades.
Failure to solidly regain $1.16 would likely keep XRP rangebound or send it lower, while a close below $1.00 could nullify the current recovery and expose the asset to further declines.
Muted trading volume suggests that fresh capital inflows are lacking, while the asset’s structure depends on the rising trendline that has provided support in recent weeks. Should XRP fall below this, and lose hold of the psychologically sensitive $1.00 mark, further downside becomes a risk.
Dogecoin remains under pressureDogecoin continues to lag behind other major cryptocurrencies, trading near $0.070 and sitting below all major daily moving averages. The technical landscape offers little cause for optimism, as the 50-day, 100-day, and 26-day moving averages remain above price and reinforce ongoing selling dominance.
Unlike XRP, which at least attempted a breakout, DOGE has failed to establish higher lows and mostly moved sideways following a sustained decline. Momentum indicators like the RSI remain below 40, pointing to persistent bearishness that has not yet reached a capitulation point. Trading volumes have also collapsed compared to previous rallies, evidence that speculative interest has waned.
The first target for buyers is reclaiming the 26-day EMA at $0.075, followed by the 50-day MA at $0.078. If DOGE cannot maintain its current range, it risks sliding toward the psychological $0.065 level, deepening its longer-term downtrend. For now, Dogecoin shows one of the weakest setups among leading cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.