Track market-moving stories before they get noisy

Key Takeaways JNJ won CHMP backing for Tecvayli plus Darzalex SC in adults with RRMM after at least one prior therapy.Tecvayli plus Darzalex SC cut the risk of disease progression or death by 83.4% versus standard care.JNJ reported 83.3% overall survival at three years for the combination in the MajesTEC-3 study. Johnson & Johnson (JNJ - Free Report) announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has recommended approval for the expanded use of Tecvayli (teclistamab) in multiple myeloma.

The CHMP has now recommended approval of Tecvayli in combination with the Darzalex subcutaneous (daratumumab SC) formulation for the treatment of adult patients with relapsed or refractory multiple myeloma (RRMM) who have received at least one prior therapy.

The latest CHMP nod was based on data from the phase III MajesTEC-3 study, which evaluated the safety and efficacy of Tecvayli in combination with Darzalex SC versus the investigator’s choice of Darzalex SC and dexamethasone with either pomalidomide or bortezomib (DPd/DVd) in patients who have received one to three prior lines of therapy.

Data from the same showed that, at nearly three years of follow-up, treatment with the combo of Tecvayli plus Darzalex SC led to an 83.4% reduction in the risk of disease progression or death versus the current standard of care. The combo of Tecvayli plus Darzalex SC demonstrated 83.3% overall survival versus 65% for the standard of care at three years.

The safety profile of Tecvayli plus Darzalex SC was similar to the well-known profiles of the individual therapies.

JNJ’s Price PerformanceYear to date, shares of J&J have rallied 24.4% compared with the industry’s growth of 13.1%.

Image Source: Zacks Investment Research

JNJ’s Ongoing Activities With TecvayliTecvayli is currently approved in Europe for treating patients with RRMM who have received at least three prior therapies, including an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 antibody and have shown disease progression on the last therapy.

In March 2026, JNJ submitted a type II variation application to the EMA seeking approval of Tecvayli as a monotherapy for the treatment of adult patients with RRMM who have received at least one prior therapy.

Tecvayli is approved in the United States for the treatment of RRMM, both as monotherapy in heavily pretreated patients and in combination therapy in earlier treatment lines. The FDA granted accelerated approval in October 2022 for adults with RRMM who had received at least four prior lines of therapy.

The FDA approved Tecvayli in combination with Darzalex Faspro for the treatment of adults with RRMM who have received at least one prior line of therapy, including an immunomodulatory agent and a proteasome inhibitor, in March 2026.

Tecvayli is one of J&J’s new cancer drugs that is making meaningful contributions to the company’s top line. The drug recorded sales worth $202 million in the first quarter of 2026, up 33.5% year over year, driven by launch uptake, share gains from continued expansion into the community setting and the launch of Tecvayli plus Darzalex Faspro for relapsed/refractory multiple myeloma.

JNJ’s Zacks Rank & Stocks to ConsiderJ&J currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Kiniksa Pharmaceuticals (KNSA - Free Report) , Immunocore (IMCR - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Kiniksa Pharmaceuticals’ 2026 EPS have increased from $1.09 to $1.24. Over the same period, EPS estimates for 2027 have risen from $1.54 to $1.70. KNSA shares have surged 43.5% year to date.

Kiniksa Pharmaceuticals’ earnings beat estimates in two of the trailing four quarters and missed in the remaining two quarters, with the average surprise being 1.53%.

Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss of 88 cents per share to earnings of 6 cents. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR stock has lost 11% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 46.66%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $1.50 to $2.97, while estimates for 2027 have increased from $2.91 to $4.81 during the same time. LQDA shares have surged 126.7% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.

Key Takeaways Chevron is evaluating U.S. data center projects beyond Project Kilby to meet rising AI electricity demand.CVX plans natural gas-fired facilities in multiple regions, with Project Kilby targeting first power in 2028.Chevron sees dedicated power projects as a potential long-term revenue stream beyond commodity prices. Per Reuters, Chevron Corporation (CVX - Free Report) is expanding its ambitions in the fast-growing data center power market by exploring additional projects across the United States. Building on the momentum of Project Kilby, the company is evaluating opportunities in several strategic regions to support the rapidly increasing electricity demand driven by artificial intelligence (AI) and cloud computing.

With abundant natural gas resources, proven energy infrastructure expertise and a growing pipeline of potential customers, Chevron is positioning itself as a key provider of dedicated power solutions for next-generation digital infrastructure.

Building on the Success of Project KilbyProject Kilby represents Chevron's first dedicated natural gas-fired power project designed specifically for a hyperscale data center. The 2.67-gigawatt facility will supply electricity to Microsoft's data center campus in Pecos, TX, with enough generating capacity to power a city the size of San Francisco.

The project reflects Chevron's strategy of combining its extensive energy development experience with growing demand from technology companies seeking reliable, large-scale power sources for AI workloads.

Chevron expects to make a final investment decision by the end of the year, while the first electricity from Project Kilby is anticipated in 2028. The facility also has the potential to expand beyond its initial capacity as future demand increases.

Chevron Is Exploring New Growth Opportunities NationwideFollowing Project Kilby, Chevron is actively evaluating similar opportunities in several regions, including West Texas, the Midwest, the Gulf Coast and areas near Colorado's Rocky Mountains. The company is also considering projects in Utah, where it already operates a hydrogen facility.

Chevron has indicated that future developments could involve both Microsoft and other technology customers, depending on project economics and commercial viability. The company believes multiple locations across the country offer the right combination of energy resources, infrastructure and customer demand to support dedicated data center power facilities.

Natural Gas Supports Reliable AI InfrastructureAs AI adoption accelerates, reliable electricity has become one of the biggest challenges facing data center expansion. Chevron believes natural gas offers an effective solution, backed by its abundant domestic supply, operational flexibility, and ability to provide continuous, dispatchable power.

Unlike intermittent energy sources, natural gas generation can quickly respond to changing electricity demand while maintaining stable operations. This reliability is particularly valuable for data centers, where uninterrupted power is essential to support AI processing, cloud services and other digital workloads.

CVX Is Balancing New Opportunities With Existing OperationsWhile expanding into dedicated power generation, Chevron continues to prioritize the energy needs of its own operations. The company evaluates new investments across its broader business to ensure projects supporting external customers do not compromise the reliability of power required for activities such as drilling operations and compression infrastructure in the Permian Basin.

This enterprise-wide approach allows Chevron to pursue emerging business opportunities while maintaining operational efficiency across its core energy portfolio.

Creating a New Long-Term Revenue StreamBeyond supporting growing electricity demand, data center power projects provide Chevron with an opportunity to diversify its revenue sources. Dedicated power generation offers income that is less directly exposed to fluctuations in oil and natural gas commodity prices, creating a potentially more stable long-term business segment.

Although industry analysts believe it is still too early to determine the financial impact of these projects, Chevron continues to advance its plans as demand for AI infrastructure grows across the United States.

Chevron Looks Beyond Project KilbyThe rapid expansion of AI and cloud computing is reshaping electricity demand, creating significant opportunities for energy providers capable of delivering reliable, large-scale power. Chevron's strategy extends well beyond Project Kilby, with multiple regions under evaluation for future developments.

By leveraging its natural gas resources, project execution capabilities and established energy infrastructure, Chevron aims to play an increasingly important role in powering the next generation of AI-driven data centers while strengthening its long-term growth strategy.

CVX’s Zacks Rank & Key PicksChevron is one of the largest publicly traded oil and gas companies in the world, with operations that span almost every corner of the globe. Currently, CVX carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like Global Partners LP (GLP - Free Report) , Delek US Holdings, Inc. (DK - Free Report) and Liberty Energy Inc. (LBRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. It owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for GLP’s 2026 earnings indicates 113.1% year-over-year growth.

TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The company’s operations are organized into two reportable segments: Refining and Logistics. The Zacks Consensus Estimate for DK’s 2026 revenues indicates 5.9% year-over-year growth.

Liberty Energy is a leading North American oilfield services company, specializing in hydraulic fracturing and completion solutions. The company provides differentiated services through advanced technology integration and real-time data analytics. The Zacks Consensus Estimate for LBRT’s 2026 earnings indicates 66.7% year-over-year growth.

, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it has entered into a definitive agreement to sell its Brazilian operations, operated under the CERATTI® brand to Zanchetta Alimentos LTDA, a Brazilian food company with an established presence in the market.

The divestiture reflects Hormel Foods ongoing efforts to simplify and streamline its portfolio and focus its international strategy on markets with the strongest long-term growth opportunities.

The transaction is expected to close in the coming weeks, subject to customary closing conditions, including required regulatory approval. In the interim, operations will continue as usual for employees, customers and partners.

Financial details of the transaction have not been disclosed. Hormel Foods expects the sale to have a minimal impact on its adjusted fiscal 2026 financial results. The company expects to share additional information during its earnings call for the third quarter of fiscal 2026. 

About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the current assumptions and expectations of Hormel Foods Corporation ("Hormel"). These statements are typically accompanied by the words "expect," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding Hormel's anticipated sale of its Ceratti business in Brazil, international growth opportunities, and the expected impact of the transaction on Hormel's fiscal 2026 financial results.

All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although Hormel believes there is a reasonable basis for the forward-looking statements, its actual results could be materially different. The most important factors which could cause Hormel's actual results to differ from its forward-looking statements include, but are not limited to, risks related to the deterioration of economic conditions; risks related to acquisitions, joint ventures, equity investments, and divestitures; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; the risk of disruption of operations; the risk that Hormel may fail to realize anticipated cost savings or operating profit improvements associated with strategic initiatives, including the Transform and Modernize initiative and Hormel's recent corporate restructuring plan; risk of unfavorable changes in Hormel's relationships with third parties; risk of Hormel's inability to protect information technology (IT) systems against, or effectively respond to, cyber-attacks, security breaches or other IT interruptions; labor relations and labor availability risks; food safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for Hormel's products; risks related to Hormel's ability to respond to changing consumer preferences; damage to Hormel's reputation or brand image; risks of litigation; risks associated with government regulation; risks related to trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of Hormel's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be accessed at www.hormelfoods.com in the "Investors" section. Though Hormel has attempted to list comprehensively these important cautionary risk factors, Hormel cautions that other factors may in the future prove to be important in affecting Hormel's business or results of operations. Forward-looking statements speak only as of the date they are made, and Hormel does not undertake any obligation to update any forward-looking statement except as otherwise required by law.

Contact:        
Media Relations        
Hormel Foods
[email protected]

SOURCE Hormel Foods Corporation

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Micron Technology (NASDAQ: MU | MU Price Prediction) and Apple (NASDAQ: AAPL) just reported earnings that expose who holds the AI era’s supply chain leverage. Micron posted a record fiscal Q3 with an 84.9% non-GAAP gross margin. Apple delivered its best March quarter ever at $111.184 billion while flagging reliance on third parties for components as a core risk.

HBM Inhales Wafers. iPhone 17 Carries Cupertino. Micron’s quarter was a memory squeeze made visible. Revenue hit $41.456 billion, up 345.72% year over year, with DRAM prices up in the low-60s% range. CEO Sanjay Mehrotra told investors “DRAM and NAND industry demand continues to significantly exceed industry supply” and that tightness extends beyond calendar 2027. HBM4 is already in volume, with over $1 billion in HBM4 revenue shipped.

Apple leaned on the consumer franchise. iPhone revenue reached $56.994 billion, Services hit an all-time high at $30.976 billion, and Tim Cook credited “extraordinary demand for the iPhone 17 lineup“. Gross margin landed at 46.9%, healthy for hardware but a fraction of Micron’s number.

Floor Pricing vs. Sticker Shock The real story sits in Micron’s contracts. Mehrotra disclosed 16 Strategic Customer Agreements covering roughly 20% of DRAM volume and one-third of NAND volume, with RPO of approximately $100 billion. Crucially, “gross margins at the floor will be well beyond the peaks we experienced in prior cycles.” That is a polite way of saying customers signed away the downside.

Apple sits on the receiving end. According to industry context, Cupertino has been pressured to accept higher memory prices to defend hardware margins from the memory tax. The buyback machine is enormous, with a fresh $100 billion buyback authorization, yet the input costs still flow through Boise.

Lens Micron Apple Gross Margin 84.9% 46.9% Core Bet HBM4 and SCA lock-ins iPhone 17 and Services Key Vulnerability Lead-customer concentration Consumer sticker shock The iPhone 18 Cycle Will Test Both Polymarket pegs 96.2% odds on an iPhone 18 launch in 2026, meaning Apple’s next mass build hits during the tightest memory window in years. I will be watching whether Micron’s Q4 revenue guide of $50.0B and EPS of $31.00 holds as hyperscaler order books refresh, and whether Apple’s Services moat can mask hardware margin compression once consumers see the new price tags.

Why the Supplier Looks Structurally Advantaged, With Caveats For exposure to the side dictating terms in this cycle, Micron looks structurally advantaged right now. The $100 billion RPO floor and forward P/E near 7x tell me the cash flow is not fully priced in yet, even after a 296.92% year-to-date move. Apple offers a steadier profile: a $100 billion buyback and Services growth cushion the input shock. Both names carry downside risk if hyperscaler capex blinks. Memory cycles always end. This one just has unusually strong contractual scaffolding.

Key Takeaways ABT expects CGM sales to return to double-digit growth after temporary second-quarter headwinds ease.ABT secured CE Mark for Libre Duo and Libre Duo 10 Day with dual glucose and ketone sensing.Abbott sees broader Volt and TactiFlex Duo PFA rollout boosting Electrophysiology growth acceleration. Abbott (ABT - Free Report) generates the largest share of its revenues from the Medical Devices unit. Sales in 2025 reached $21.39 billion, up 11.9% from the prior-year levels. That strength continued into the first quarter of 2026, with revenues rising 8.5% on a comparable basis, led by the strong performance of its cardiovascular device businesses. Abbott believes its investments in the foundational businesses like Rhythm Management and Vascular continue to pay off, even as the traditionally higher-growth segments draw most of the attention. With the July 16 second-quarter 2026 earnings approaching, several recent developments and pipeline progress are expected to help sustain this momentum, with some expected to have a greater impact as the year progresses and beyond.

In Diabetes Care, continuous glucose monitoring (CGM) sales will likely return to the double-digit growth in the second quarter, after temporary headwinds from delays in the renewal process related to an international tender and difficult prior-year comparisons. Abbott expanded the portfolio by recently securing CE Mark for Libre Duo and Libre Duo 10 Day, the world's first-ever dual glucose-ketone sensing technology designed to continuously measure glucose and ketone levels every minute.

Further, Rhythm Management could continue outperforming the broader market, supported by the strong adoption of the AVEIR leadless pacemaker. Together with ongoing investments in conduction system pacing and other novel technologies, Abbott believes the $10 billion Rhythm Management market offers substantial room to expand share and drive sustainable long-term growth.

Meanwhile, the Heart Assist Devices portfolio for the treatment of chronic and temporary conditions is expected to remain a strong contributor to the Heart Failure business. In Electrphysiology, Abbott expects growth to accelerate as it broadens the rollout of Volt and TactiFlex Duo Pulsed Field Ablation (PFA) catheters.

ABT’s Peer Activity in FocusMedtronic (MDT - Free Report) recently completed the acquisition of Scientia Vascular, a privately held medical device company in Salt Lake City. The deal is valued at $550 million, subject to customary adjustments, with potential undisclosed earn-out and milestone payments post-acquisition. The addition of Scientia's access technologies is expected to boost Medtronic’s Neuroscience Portfolio.Financially, the deal is expected to be minimally dilutive to the company’s adjusted EPS in FY 2027 and accretive thereafter.

Quest Diagnostics’ (DGX - Free Report) Haystack MRD test has been approved by the New York State Department of Health's Clinical Laboratory Evaluation Program. The circulating tumor DNA liquid biopsy test is meant for use in identifying residual or recurring disease in patients with a range of solid tumor cancers. Quest Diagnostics developed the test under CLIA regulations and has been available for clinician ordering since late 2024 in 49 states and the District of Columbia.

ABT’s Price Performance, Valuation & EstimatesOver the past year, ABT shares have plunged 30.8% compared with the industry’s 28% decline. 

Image Source: Zacks Investment Research

In terms of valuation, Abbott is trading at a forward, five-year Price/Sales (P/S) of 3.11X, lower than its 4.63X median but above its industry average of 2.16X.

Image Source: Zacks Investment Research

Here’s how consensus estimates for Abbott’s 2026 and 2027 earnings have been shaping up.

Image Source: Zacks Investment Research

Abbott currently carries a Zacks Rank #4 (Sell).  

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Kraken is listing a batch of Bittensor subnet alpha tokens, marking the first time a major centralized exchange has opened the door to these specialized AI-focused assets. Until now, trading these tokens meant navigating on-chain AMM pools or scraping together liquidity on smaller platforms.

The listed tokens include Chutes AI (Subnet 64), Targon Compute (Subnet 4), Webuildscore, Lium io, Ridges ai, Hippius subnet, and VantaTrading. For a network that has quietly built one of the most ambitious decentralized AI ecosystems in crypto, getting shelf space on Kraken is a meaningful shift in visibility.

What are subnet alpha tokens, and why should you care Think of Bittensor as a decentralized marketplace for AI services, broken into specialized divisions called subnets. Each subnet handles a different job. Chutes AI, for example, focuses on serverless AI inference, essentially letting developers run AI models without managing their own servers. Targon Compute provides decentralized verifiable AI compute.

Bittensor currently operates over 128 active subnets, each with its own alpha token. These tokens function as direct exposure to a specific subnet’s performance, emissions, and revenue generation. In English: buying a subnet alpha is like buying equity in one department of a larger company, rather than buying the parent company’s stock (which would be TAO itself).

The mechanism that makes all of this possible is called dynamic TAO, or dTAO. Introduced in late 2025 or early 2026, dTAO allows each subnet to issue its own token that trades against TAO through on-chain automated market maker pools. Before dTAO, the only way to interact with Bittensor’s economics was through the TAO token. Now each subnet has its own price signal, its own liquidity, and its own market dynamics.

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Leading subnets like Chutes and Targon have already achieved market caps in the tens to over $100 million range.

Why Kraken’s move matters Before this listing, subnet alpha tokens lived almost entirely on-chain. There was one isolated instance of a subnet token trading on MEXC, but for the most part, accessing these assets required comfort with decentralized trading infrastructure. That’s a meaningful barrier for retail investors, and an even bigger one for institutions that need regulated, familiar platforms.

Kraken stepping in brings centralized exchange liquidity, cleaner price discovery, and the kind of accessibility that attracts a much broader investor base. Kraken already supported the core TAO token. This expansion into subnet-level assets signals the exchange sees commercial viability in the deeper layers of the Bittensor ecosystem, not just the top-level token.

The bigger picture for decentralized AI Bittensor’s subnet architecture creates a genuine marketplace where different teams compete to provide the best AI services. The dTAO mechanism turns that competition into tradeable assets, letting the market price each subnet’s contribution in real time.

With 128-plus subnets operating and their alpha tokens now reaching major exchanges, the Bittensor ecosystem is transitioning from a niche experiment to something that resembles a functioning decentralized AI economy. Each subnet’s token acts as a real-time gauge of market confidence in that subnet’s utility and revenue potential.

Unlike many crypto tokens that derive value purely from speculation, subnet alphas are tied to actual economic output. When a subnet like Chutes AI processes inference requests, that activity flows into the token’s value proposition.

What this means for investors Subnet alpha tokens introduce a new layer of granularity for crypto investors interested in AI infrastructure. Instead of making a broad bet on the Bittensor network through TAO, investors can now take targeted positions on specific subnets they believe will outperform.

The risk side of the ledger is straightforward: subnet tokens are narrower bets with less liquidity than TAO, even with Kraken’s support. A subnet that loses validators, faces technical issues, or gets outcompeted by a rival subnet could see its alpha token decline sharply. The dTAO mechanism means these tokens are ultimately priced relative to TAO, so a broad TAO selloff would drag subnet tokens down regardless of individual subnet performance.

For investors evaluating these assets, the key metrics to monitor are each subnet’s compute utilization rates, revenue generation, validator count, and market cap relative to its economic output.

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

Key Takeaways Fortinet expanded FortiGate with new G Series models and launched the FortiSOC cloud SOC platform.FTNT posted 20% Q1 revenue growth, record free cash flow and raised full-year 2026 guidance.Fortinet balances FortiGate hardware growth with FortiSOC expansion amid rollout and adoption challenges. Fortinet's (FTNT - Free Report) push to expand its FortiGate hardware lineup and cloud-delivered security operations platform is reigniting investor attention on the cybersecurity firm's growth runway. The company recently widened its FortiGate G Series with the 3500G and 400G models, built on its proprietary NP7 and SP5 processors and running FortiOS 8.0, the operating system introduced in March 2026 with AI-driven security, SASE and quantum-safe capabilities.

The FortiGate 3500G targets high-density data centers, delivering 595 Gbps of firewall throughput and support for 179 million concurrent sessions, while consuming just 1.6 watts per Gbps of throughput. The FortiGate 400G, aimed at enterprise edges, offers 164 Gbps of firewall throughput and 28 million concurrent sessions. On the cloud side, Fortinet in June 2026 launched FortiSOC, a unified, cloud-delivered security operations platform that consolidates six SOC functions into a single SaaS experience with embedded agentic AI for alert investigation and response.

These product moves followed a strong first quarter. Revenues grew 20% year over year to $1.85 billion, with product revenues increasing 41% to $645 million and billings rising 31% to $2.09 billion. GAAP operating margin came in at 31%, non-GAAP operating margin at 36%, and non-GAAP EPS rose 41% to 82 cents, alongside record free cash flow of $1.01 billion. Management raised full-year 2026 revenue guidance to roughly 15% year-over-year growth, with full-year revenues now expected between $7.71 billion and $7.87 billion and non-GAAP operating margin guided to 33-36%.

The growth narrative isn't without friction. Product revenue strength reflects a hardware refresh cycle that can be lumpy, and the FortiSOC rollout currently spans only the U.S. and EMEA at launch, with broader regional expansion planned through 2026 — meaning near-term cloud contribution remains modest relative to the installed base. FortiSOC also layers onto, rather than replaces, existing tools like FortiAnalyzer and FortiSIEM, raising questions about how quickly customers migrate. Even so, the combination of differentiated ASIC-based hardware economics and an expanding SaaS security-operations footprint gives Fortinet two distinct growth levers heading into the back half of 2026, with execution against raised guidance the next test for the stock.

How Rivals Palo Alto Networks and Check Point CompareOn the same firewall-and-cloud-SOC theme, Palo Alto Networks (PANW - Free Report) and Check Point Software (CHKP - Free Report) offer contrasting benchmarks. Palo Alto Networks posted second-quarter fiscal 2026 revenues of $2.6 billion, up 15% year over year, with product revenues up 22%, while its Cortex XSIAM cloud SOC platform helped drive next-generation security ARR up 33% to $6.33 billion. Check Point, by contrast, reported first-quarter 2026 revenues of $668 million, up just 5%, with security subscriptions rising 11% to $323 million, as weaker firewall appliance revenues tied to go-to-market execution changes weighed on results. Against Palo Alto Networks' faster cloud-platform ARR growth and Check Point's appliance-driven softness, Fortinet's FortiGate hardware gains and FortiSOC launch position it between the two on execution.

FTNT’s Share Price Performance, Valuation & EstimatesFortinet shares have gained 88.5% in the past six-month period, outperforming the Zacks Security industry and the broader Computer and Technology sector’s growth of 48.4% and 11.6%, respectively.

FTNT’s 6-Month Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, FTNT appears overvalued, trading at a forward 12-month price-to-earnings ratio of 46.41, higher than the sector's average of 23.39. The company carries a Value Score of F.

FTNT’s Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Fortinet’s earnings is pegged at $3.13 per share for 2026, which implies year-over-year growth of 13.41%.

Fortinet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways HomeGoods delivered 9% comparable sales growth in fiscal Q1, outpacing TJX's larger banners.Net sales in the HomeGoods U.S. division rose 11% to $2.51B as demand broadened across regions.Segment margin expanded 270 basis points to 12.9%, signaling rising efficiency and scale. The TJX Companies, Inc.’s (TJX - Free Report) HomeGoods banner is increasingly looking like more than just a complementary business within the retailer's portfolio. The chain is emerging as a meaningful earnings contributor as its scale, sales momentum and profitability continue to improve.

The latest quarter highlighted that shift. HomeGoods posted a 9% comparable sales increase in the first quarter of fiscal 2027, outpacing the company's larger banners and demonstrating broad-based demand across regions and customer income groups. Net sales in the HomeGoods (United States) division rose 11% year over year to $2,506 million. More importantly, profitability improved at an even faster pace, with segment margin expanding 270 basis points to 12.9%.

The performance also reinforces the strength of HomeGoods' merchandising proposition. The banner continues to attract shoppers with an eclectic assortment of home fashions and furnishings sourced from around the world and offered at compelling values through its off-price model. The broad-based growth across regions and income demographics suggests that its appeal extends well beyond a specific customer segment.

Just as importantly, strong sales momentum is translating into higher profitability. The expansion in segment margin indicates that HomeGoods is not only growing faster but also becoming a more efficient business as it gains scale. The latest results suggest the banner is strengthening the contribution to TJX's earnings mix and establishing itself as an increasingly important profit engine within the portfolio.

TJX and Peers See Similar DynamicsRoss Stores (ROST - Free Report) achieved strong growth through disciplined execution of its off-price model. Driven by robust customer traffic, Ross Stores delivered a stellar 17% comparable store sales increase in the first quarter of fiscal 2026. The broad-based gains across income levels, age groups and ethnicities underscore the banner's wide consumer appeal. Importantly, Ross Stores translated this sales momentum into stronger profitability, with operating margin expanding 120 basis points to 13.4%.

Burlington Stores, Inc. (BURL - Free Report) has been benefiting from the disciplined execution of its off-price model. In the first quarter of fiscal 2026, Burlington Stores reported 6% comparable store sales growth and a 14% increase in total sales. Disciplined inventory management, faster inventory turns and an ability to chase trends enabled Burlington Stores to convert sales growth into margin expansion and consistent earnings growth.

TJX’s Price Performance, Valuation and EstimatesShares of The TJX Companies have gained 1.8% in the past month compared with the industry’s growth of 2%.

Image Source: Zacks Investment Research

From a valuation standpoint, TJX trades at a forward price-to-earnings ratio of 28.93X, down from the industry’s average of 30.91X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for The TJX Companies’ fiscal 2027 and 2028 earnings per share has inched up 2 cents and 1 cent to $5.17 and $5.67, respectively, in the past 30 days.

Image Source: Zacks Investment Research

TJX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Chipotle Mexican Grill (CMG 1.62%) issued a 50-for-1 split on June 26, 2024, making its then roughly $3,000 share price more affordable. But that almost marked the peak. The stock is currently down 53% from its all-time high.

It wasn't the split, but rather weakening sales performance in the business itself that followed the departure of former CEO Brian Niccol. Here are three reasons Chipotle has fallen from its pedestal.

Image source: The Motley Fool.

1. Slowing revenue growth Since 2024, Chipotle's revenue growth has declined amid inflationary costs and weak comparable sales. When the company issued its stock split, revenue was up 18% year over year in Q2 2024. Comp sales grew 11%, with transaction growth up 8.7%.

In May 2025, there was a noticeable slowdown in underlying business trends amid weakening consumer sentiment. For the full year, revenue grew just 5% over 2024, with comp sales declining by 1.7%.

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$

32.80

2. Higher costs pressured margins As sales weakened, Chipotle faced higher costs for rent, labor, and food ingredients. As a result, restaurant-level margin fell from 26.7% in 2024 to 25.4% in 2025. The company is still struggling to offset higher costs, with restaurant-level margins down to 23.7% in the first quarter of 2026.

Chipotle might have compounded this problem by lowering prices for some items. It prioritized keeping traffic up at the expense of its bottom line. Quarterly earnings peaked at $0.33 in Q2 2024. In Q1 2026, the company reported a 17% year-over-year decrease in earnings, falling to $0.23.

3. Uncertainty from leadership change Niccol took the CEO job at Starbucks in September 2024. While Chipotle's weakening performance is most correlated with the broader weakness in consumer spending, a change in CEO always creates uncertainty about the future, which can impact a company's valuation.

There's a reason Starbucks chose Niccol to lead its turnaround. Niccol proved to be a superb business operator at Chipotle. Under his leadership from 2018 through the third quarter of 2024, Chipotle more than doubled its revenue and doubled its operating profit margin. From the end of 2014 through Q3 2024, the stock returned 567%.

After the recent collapse, Chipotle stock is now trading at its lowest price-to-earnings ratio in years. It could be a great time to buy, but time will tell whether the new CEO, Scott Boatwright, is as successful as Niccol. The latest results showed improvement in top-line growth. Revenue grew 7.4% year over year, with comp sales up 0.5%.

Still, until costs get under control and earnings improve, the stock will likely remain discounted. Investors should watch for signs that food inflation is waning, as that would mark a catalyst for stronger margins and earnings.

WLFI Is a Governance TokenOwning WLFI tokens gives you one thing: the right to participate in governance of the WLF Protocol. The official risk disclosures are direct about this. 

Holding the token does not provide any right to any dividend, reward, airdrop, or other distribution or form of income. If that framing sounds narrow, that is because it is supposed to be. The project explicitly says holders do not receive returns, dividends, airdrops, distributions, or any financial interest in World Liberty Financial LLC or its affiliates.

World Liberty Financial (WLF) is a DeFi protocol backed by the Trump family that launched its governance token, WLFI, in October 2024. The token sale raised a total of $550 million. 20% of the total token supply was offered at a fully diluted valuation of $1.5 billion, and as demand increased, an additional 5% was offered at a fully diluted valuation of $5 billion. 

As of late June 2026, WLFI trades at approximately $0.058, with a circulating supply of roughly 31.77 billion tokens and a market cap of approximately $1.85 billion.

What WLFI Token Holders Actually GetUnderstanding the token requires separating what is currently live from what is proposed or pending.

Governance Voting RightsHolders can steer the future of the platform by proposing and voting on changes to protocol rules and parameters through the WLF Governance Platform. Voting happens through Snapshot, an off-chain voting tool widely used in DeFi. 

Each WLFI token represents one vote. No single wallet or affiliated group may vote with more than 5% of the outstanding votable token supply, regardless of the total tokens held. This cap is intended to limit concentration of control.

There are practical limits here worth noting. World Liberty Financial is a Delaware non-stock corporation that screens proposals, uses off-chain Snapshot voting, and implements outcomes through multisignature wallets under company control, so token votes can be filtered or overruled for legal or operational reasons. That is meaningfully different from a DAO where on-chain votes automatically execute code.

Access to the WLFI Markets Lending PlatformThrough WLFI Markets, users can supply assets to earn potential rewards or use their digital assets as collateral to borrow funds. This lending and borrowing service is powered by the Dolomite protocol and launched in January 2026.

Cross-Chain Transfers and Conversion ToolsUsers can transfer USD1 or WLFI tokens between integrated networks and quickly convert other cryptocurrencies for USD1 or WLFI and vice versa. The bridge currently supports Ethereum and Solana.

A Staking Yield Mechanism (Passed, Rolling Out)A governance proposal introduced in February 2026 passed with 99.16% community approval and is now being implemented. Under the system, unlocked WLFI tokens must be staked for at least 180 days to gain governance rights. Stakers who participate in at least two governance votes during their lock period earn a base reward with a 2% annualized yield target, funded from the WLFI treasury.

The system also introduces tiered participation levels. Participants staking at least 10 million WLFI, roughly $1 million at recent prices, are labeled "Nodes" and gain access to licensed market makers to convert USDT and USDC into USD1 at a 1:1 rate. Those staking more than 50 million WLFI are designated "Super Nodes," with benefits that include priority access to partnership discussions with the development team.

Token Supply and Allocation ContextWLFI has a maximum supply of 100 billion tokens. The initial token allocation was heavily concentrated, with 33.5% allocated to the team and advisors. Of that 33.5%, 22.5% is held by the Trump family and affiliated business entities. 

Some sources place the combined non-public allocation even higher. Reports indicate approximately 70.8% of the supply is allocated to the founding team, advisors, and service providers, with the 33.5% figure covering the formal team and advisor category specifically. Either way, public token buyers hold about a third of all tokens, meaning insiders could outvote outsiders on every governance proposal.

It is also worth noting that the public $550 million raise was not the full picture. A Bloomberg investigation revealed that after the two public fundraising rounds, World Liberty Financial sold an additional 5.9 billion WLFI tokens to accredited private investors in transactions that were not publicly disclosed, potentially raising hundreds of millions of dollars more, with a significant portion of proceeds going to founder-affiliated entities. This undisclosed sale was discovered by intelligence platform Tokenomist(.)ai after examining World Liberty's governance filings.

What Does WLFI Token NOT Give You?This is where many buyers have been caught off guard.

No dividends or equity-style returns from protocol revenues. The Gold Paper states that WLFI is not equity or a share in any entity, does not confer any financial interest in any entity, and does not provide a right to any return, dividend, airdrop, or other distribution from protocol operations. Note that the 2% annual staking yield introduced in February 2026 is not a dividend or revenue share. It is a treasury-funded incentive paid only to holders who stake their unlocked tokens for 180 days and vote in at least two governance proposals. It is participation-based, not passive, and comes from the WLFI treasury, not from protocol profits.

No ownership in World Liberty Financial. The token provides governance input over the WLF Protocol only, not the company itself. The token does not provide any economic or other rights with respect to the WLF Protocol or otherwise. Token holders will not have any rights to any fees generated by the WLF Protocol or earned by the company.

No guaranteed liquidity. Early buyers faced long lock-up periods. On around September 1, 2025, 20% of tokens purchased during early rounds became available for unlocking. The WLFI community then passed a governance proposal in May 2026 establishing a structured unlock schedule for remaining locked tokens. Holders who do not accept the unlock schedule keep their tokens locked indefinitely, though they retain governance voting rights.

No share of protocol revenues for retail holders. According to the official Terms and Conditions, all net protocol revenues are split entirely between insider entities. DT Marks DeFi, LLC and its affiliates, including Donald J. Trump, are entitled to 75% of net protocol revenues from any sources, after deduction of agreed reserves and expenses. The remaining 25% goes to other WLF directors, officers, advisors, promoters, and service providers. Retail WLFI holders receive none of it. The USD1 holding campaigns run by Binance and Bybit distribute WLFI tokens as incentives, but those are exchange-run marketing programs using WLFI from the treasury allocation, not distributions of protocol revenue to retail holders.

Is WLFI Governance Real or Mostly Symbolic?Even the most engaged prior vote attracted only 11.1 billion WLFI in voting power, with a quorum of just 1 billion required to pass proposals. That is a low bar for a token with 100 billion total supply, suggesting most holders do not actively participate. The February 2026 staking proposal received overwhelming support but more than 76% of the voting power came from just ten users, raising persistent questions about whether governance is truly decentralized.

The Justin Sun dispute in April 2026 sharpened those concerns further. Sun claimed that he had been denied the voting rights he had been promised for the WLFI token and that wallets had been frozen. Sun's allegations, if true, reveal that World Liberty retained sweeping unilateral control over WLFI. World Liberty Financial denied wrongdoing and the matter went to federal court in California.

The HTX incident in June 2026 made the freeze function even more visible. WLFI froze on-chain addresses linked to HTX on June 5, 2026 with no prior notice, locking assets belonging to individual retail users. HTX suspended four WLFI and USD1 trading pairs, converted all user USD1 balances to USDT at 1:1, and fully delisted USD1 on June 7, 2026. 

The root cause was that the UK designated Huobi Global S.A., the entity linked to HTX, under Russia sanctions on May 26, 2026, and WLFI cited its sanctions compliance framework as the basis for restricting token circulation on HTX-linked addresses. HTX stated the frozen assets belonged to individual retail users, not to any sanctioned entity, and formally demanded WLFI lift the freeze.

WLFI Tokenomics: The Numbers You Should KnowOn the supply side, the circulating supply currently stands at approximately 31.77 billion tokens, representing 31.77% of the 100 billion maximum supply. This is a meaningful increase from the roughly 27 billion figure reported earlier in 2026, reflecting tokens released through the structured unlock schedule passed in May 2026.

The protocol intends to use its net revenue to repurchase WLFI tokens from the open market and burn them, permanently removing tokens from circulation to reduce the overall supply. Token burns are a common tokenomics tool across DeFi projects to manage circulating supply over time, used by projects like BNB and others, though the effect depends on burn volume relative to total supply.

On the ecosystem front, Binance Wallet launched a campaign from June 19 to July 18, 2026, distributing 16 million WLFI tokens to users who interact with the USD1 stablecoin on partner protocols like PancakeSwap, Lorenzo Protocol, and Lista DAO, with eligible activities including lending, staking, and providing liquidity. This is the most active exchange-level incentive campaign currently running within the ecosystem.

ConclusionWLFI is a governance token that gives holders a capped vote on WLF Protocol decisions, access to a lending and borrowing platform via WLFI Markets, cross-chain transfer tools, and a participation-based 2% annual staking yield for those who commit to a 180-day lock and actively vote. It does not give holders dividends, revenue sharing, equity in World Liberty Financial, or any guaranteed return.

The project has exercised its on-chain freeze function in multiple high-profile disputes, including against Justin Sun's wallet in 2025 and HTX-linked user addresses in June 2026. Anyone evaluating WLFI should read the official risk disclosures carefully, track the ongoing unlock schedule, and treat the freeze function as a live variable in any risk assessment.

ResourcesWorld Liberty Financial Risk Disclosures – Official token rights, limitations, and holder obligationsWorld Liberty Financial Token Unlock – Full unlock schedule, eligibility, and smart contract processWorld Liberty Financial Official Site – WLFI Markets, AgentPay SDK, and bridge toolsCoinMarketCap: WLFI – Live price, circulating supply, and market cap dataTokenomist: WLFI Vesting Schedule – Circulating supply breakdown and full unlock timelineDuke FinReg Blog: Is WLFI an Unregistered Security? – Legal analysis of the Gold Paper and securities classificationThe Block: WLFI Staking Governance Proposal – Original reporting on the 180-day staking and 2% yield proposalCoinPaprika: HTX Delists USD1 After WLFI Freeze – Full timeline of the June 2026 HTX freeze and USD1 delistingBitcoinist: WLFI Undisclosed Token Sales – Bloomberg investigation into undisclosed 5.9 billion WLFI token salesCoinMarketCap: WLFI Latest Updates – June 2026 Binance campaign details and current ecosystem news

Japanese Bitcoin treasury firm Metaplanet has announced its plan to expand its Bitcoin ambitions, with Director of Bitcoin Strategy Dylan LeClair revealing that the company intends to acquire an additional 170,000 BTC as part of its long-term goal of controlling 1% of Bitcoin’s total supply.

The strategy would increase Metaplanet’s holdings to 210,000 BTC by the end of 2027, making it one of the world’s largest Bitcoin treasuries. At Bitcoin’s fixed maximum supply of 21 million coins, the target represents approximately 1% of all Bitcoins that will ever exist. Such a milestone would place the Tokyo-listed company alongside Strategy among the most influential institutional owners of the digital asset.

5/5 Proposals Approved at the @Metaplanet Extraordinary Shareholder Meeting

1) Approve shift of capital stock and capital reserve to capital surplus to increase capacity for preferred share dividends & potential share buybacks. ✅

2) Increase the total number of authorized…

— Dylan LeClair (@DylanLeClair) December 22, 2025

Metaplanet Is Doubling Down on Its Bitcoin Treasury Strategy The latest target follows board approval of Metaplanet’s revised Bitcoin accumulation plan, which significantly expands the company’s original objective.

Rather than stopping at 40,000 BTC, the company now plans to acquire a total of 210,000 BTC by the end of 2027. Since the company already holds roughly 40,000 BTC, the updated strategy implies purchases of approximately 170,000 additional Bitcoin over the next 18 months.

LeClair described the goal in straightforward terms.

“Our target is 1% of the Bitcoin supply.” The executive has consistently argued that Metaplanet measures success not through fiat-denominated returns but by increasing Bitcoin per share, a philosophy that mirrors Strategy Executive Chairman Michael Saylor’s long-standing approach to corporate treasury management.

To finance the expansion, the company plans to continue using equity issuance, preferred shares, warrants, and other capital market instruments rather than relying solely on cash generated from operations.

Earlier this year, Metaplanet announced a major equity financing initiative designed specifically to accelerate Bitcoin accumulation. The company has repeatedly emphasized that the objective is to raise capital efficiently while minimizing shareholder dilution.

Corporate Competition for Bitcoin Is Intensifying Metaplanet’s announcement highlights how competition among corporate Bitcoin treasury companies is escalating.

Over the years, Strategy has dominated the corporate Bitcoin accumulation narrative. However, more recently, treasury companies like Metaplanet, Twenty One Capital and MARA Holdings have created an institutional race to accumulate scarce Bitcoin supply.

Top Bitcoin treasury companies. Source: Bitcointreasuries.net

If Metaplanet succeeds, its holdings would account for one out of every hundred Bitcoin that will ever exist. That concentration could have broader implications for market liquidity.

Unlike exchange-traded funds, which purchase Bitcoin on behalf of investors, treasury companies typically accumulate BTC as long-term balance sheet assets. Those coins are rarely sold, effectively reducing the liquid supply available to the market.

The strategy also reflects growing confidence among Bitcoin-focused corporates that long-term appreciation will outweigh short-term volatility.

LeClair has repeatedly argued that Bitcoin should be viewed as a superior treasury reserve asset capable of protecting corporate purchasing power over time, particularly in an environment of persistent fiat currency debasement.

Whether investors continue supporting those financings will depend largely on Bitcoin’s long-term performance and Metaplanet’s ability to generate value on a per-share basis.

For more details, visit the official Decrypt platform.

TL;DR Strategy has approved a new Digital Credit Capital Framework for active capital management. Under the framework, the company could sell up to $1.25 billion worth of Bitcoin. The move does not mean Strategy is abandoning Bitcoin, but it does show a more flexible treasury model. Strategy Adds A New Layer To Its Bitcoin Playbook Strategy has approved a new Digital Credit Capital Framework that could allow the company to sell up to $1.25 billion worth of Bitcoin as part of a broader active capital management approach.

That sounds dramatic because Strategy has spent years being viewed as the public-market symbol of relentless Bitcoin accumulation. Investors are used to hearing about purchases, convertible notes, preferred stock, and balance-sheet expansion. A framework that allows Bitcoin sales naturally gets attention because it cuts against the simplest version of the story.

But the more useful read is a little more nuanced. This is not necessarily “Strategy turns bearish on Bitcoin.” It is closer to Strategy formalizing how it may manage liquidity, dividends, buybacks, and reserves while still operating around a Bitcoin-heavy balance sheet.

Why A Bitcoin Sale Authorization Matters The authorization matters because it changes how investors think about Strategy’s treasury model.

A company can be bullish on Bitcoin and still need a mechanism for capital management. That is especially true when the company has layered financing instruments around its balance sheet. Dividends, credit products, buybacks, cash reserves, and market volatility all create situations where flexibility may become valuable.

The risk is perception. Strategy’s brand is closely tied to Bitcoin conviction. Any suggestion that it could sell BTC, even for corporate finance reasons, may invite questions from investors who bought into the idea of continuous accumulation.

That does not mean the framework is negative by default. A rigid treasury strategy can become fragile if market conditions change. A flexible one can be stronger, provided investors trust the rules and understand when sales may happen.

The Bigger Question For Bitcoin Treasury Companies This development also speaks to the next phase of Bitcoin treasury adoption. The first phase was simple: buy BTC and hold it. The next phase may be more complicated: manage Bitcoin-backed capital structures in public markets.

That is where the story gets more interesting. If Strategy can use its Bitcoin position to support credit products, dividends, reserves, or buybacks, then it is no longer just a holder. It becomes a capital manager built around Bitcoin as the core reserve asset.

For Bitcoin, the immediate market impact depends on whether any sales actually occur and how they are executed. A maximum authorization is not the same thing as a completed sale. Still, traders will watch closely because Strategy remains one of the most closely followed corporate BTC holders.

The takeaway is simple: Strategy’s Bitcoin story is maturing. The company is not just stacking BTC; it is building rules around how that stack can support a wider financial structure. That may make the model more durable, but it also makes it more complex.

—

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

FDA Issues Complete Response Letter For Lantheus Imaging AgentThe FDA stated unresolved third-party facility manufacturing-related conditions.

The third-party facility is responsible for drug product manufacturing. Satisfactory resolution of the unresolved facility inspection-related conditions is required before the LNTH-2501 NDA may be approved.

The CRL did not identify any concerns regarding the data submitted by Lantheus in support of the application, nor did it identify any issues related to the safety or efficacy of LNTH-2501.

In March, the FDA extended the PDUFA date for LNTH-2501 by three months to June 29, 2026, to allow additional time to review manufacturing-related information. 

The agency said that the standard review extension is not related to the efficacy or safety data of LNTH-2501. 

William Blair Delays Octevy Sales ForecastWilliam Blair on Monday wrote, “While we are disappointed by the setback, we are encouraged that the complete response letter (CRL) does not appear to be clinical in nature.”

In light of the CRL, analyst Andy Hsieh pushed back initial sales of Octevy by one year in the model to the first quarter of 2028 from the first quarter of 2027 previously.

Octevy is a PET diagnostic imaging agent for certain neuroendocrine tumors.

Analyst Highlights Improving Fundamentals, Growth CatalystsTaking a step back, William Blair wrote that the fundamentals for Lantheus are improving as the company navigates through challenging pricing dynamics before transitioning the market to Pylarify TruVu at the end of the year.

The analyst said that the ongoing launch of Neuraceq, coupled with the anticipated approval of MK-6240 (tau-directed diagnostic PET agent for Alzheimer’s disease), provides multiple drivers to reinvigorate top-line growth.

LNTH Price Action: Lantheus Holdings shares were trading down 0.50% at $109.25 at the time of publication on Monday. The stock is trading near its 52-week high of $111.46, according to Benzinga Pro data.

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XRPLF and VS1 Finance Team Up on Permissioned LendingThe XRP Ledger Foundation (@XRPLF) has partnered with @vs1_finance to develop a sovereign, open-source reference application for permissioned lending on the $XRP Ledger. The collaboration positions VS1 as one of the first platforms to build directly on the ledger's newest institutional-grade infrastructure, combining compliance tooling with native on-chain credit mechanics.

The protocol leans on two core XRPL primitives: Credentials and Permissioned Domains. Permissioned Domains allow features such as lending protocols to restrict and manage access, so traditional financial institutions can offer services on-chain while complying with various compliance rules. Credentials, linked to Decentralized Identifiers, enable trusted issuers to attest to attributes such as KYC status, accreditation, or regulatory permissions. Their real power comes as a foundational building block within XRPL's broader identity stack, enabling permissioned domains, regulated DEXs, and compliant access to tokenized assets and lending markets.

Together, these primitives ensure that only participants meeting institutional-grade compliance standards can access on-chain liquidity through the VS1 application.

Single Asset Vaults and Bond TokenizationThe framework also integrates two recently introduced XRPL amendments: Single Asset Vaults (XLS-65) and the native XRPL Lending Protocol (XLS-66). Single Asset Vaults aggregate liquidity and issue vault shares that can be transferable or non-transferable depending on configuration. The Lending Protocol then builds on these vaults to enable fixed-term, uncollateralized loans with pre-set amortization schedules, while underwriting and risk management remain off-chain, where institutions already have mature models.

RippleX has confirmed that several institutional participants, including VS1.Finance, are already preparing to build on top of the Single Asset Vault and Lending Protocol. VS1 has noted it is applying Single Asset Vault and Lending Protocol to enable bond tokenization, going beyond simple credit use cases.

VS1 describes itself as the first AI-powered institutional DeFi hub on the XRP Ledger, building a regulated DeFi platform that combines institutional-grade swaps, lending, and AI-powered yield generation with portfolio intelligence tools for financial institutions and investors. VS1's first issuance, a corporate bond under the National Bank of Georgia's regulatory sandbox, is scheduled for Q3 2026.

The partnership reflects a broader shift on XRPL toward production-ready institutional infrastructure. Real-world assets on the XRP Ledger more than doubled last quarter, reaching an all-time high of $2.25 billion, up 124% in three months. With compliance primitives now live and a native lending protocol advancing through validator consensus, the ledger is moving from experimentation to regulated financial infrastructure at scale.

Sources:
Ripple: Institutional DeFi on XRPL
XRPL.org: Permissioned Domains
CryptoNews: XRPL Lending Protocol Security Review

Ripple is pushing the XRP Ledger into institutional lending territory with the XLS-66 Lending Protocol, paired with XLS-65 Single Asset Vaults, a framework that enables fixed-term credit facilities funded by pooled deposits and settled automatically on-ledger. Institutions put assets into a vault, borrowers draw from that pool on defined terms, and the ledger handles repayment mechanics without a middleman touching the money.

The underwriting still happens off-chain. Risk assessment, credit decisions, compliance checks: all conducted before anything touches the ledger. Once approved, execution is automated.

How the protocol actually works Single Asset Vaults, defined under XLS-65, are the deposit side of the equation. Liquidity providers deposit into these vaults, which then fund fixed-term loans to institutional borrowers.

The loans themselves are uncollateralized in the traditional crypto sense. There is no overcollateralization requirement like you would see on Aave or Compound. Instead, underwriting happens through off-chain credit assessment, which means the protocol is explicitly designed for institutions that can be evaluated like real-world borrowers, not anonymous wallets.

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The protocol also integrates with Multi-Purpose Tokens, XRPL’s flexible tokenization standard, as well as Credentials and Permissioned Domains, features that allow the ledger to enforce compliance rules at the infrastructure level. An institution can participate only if it meets the criteria embedded in the domain.

Rippled v3.1.0, which shipped in late January 2026, moved the Lending Protocol amendment into validator voting. The amendment has since received a re-audit by Halborn, a blockchain security firm, clearing one of the last major technical hurdles before broader deployment.

The tokenized RWA context Tokenized RWAs on the ledger exceeded $3 billion in value by late April 2026, according to RWA.xyz data. That figure represents a 59% increase in a single month. The growth is being driven by two main asset classes: energy-backed tokens and Ondo Finance’s tokenized US Treasuries.

Energy-backed tokens represent physical energy assets, typically tied to production or reserves, that have been tokenized for on-chain trading and financing.

Evernorth, a firm holding a significant quantity of XRP, publicly announced in January 2026 its intent to participate in the Lending Protocol once live. The firm’s interest is straightforward: deposit XRP holdings into vaults, earn yield from borrower interest.

What this means for XRPL’s competitive position The institutional DeFi space is not empty. Ethereum has a substantial head start in DeFi infrastructure, and networks like Avalanche and Polygon have also made dedicated pushes toward institutional adoption. What XRPL is betting on is that compliance-native infrastructure, meaning a ledger where permissioned access and credential verification are built into the base layer rather than bolted on top, will matter more to regulated institutions than raw liquidity depth.

The Halborn re-audit is part of that story. Institutional risk teams want documented security reviews before they allocate, and XRPL has now cleared that bar for the lending layer.

For XRP as an asset, the lending protocol introduces a new demand variable. Vault deposits denominated in XRP create holding incentives that go beyond simple speculation. If institutions are depositing XRP to earn yield, that represents a category of demand that is less sensitive to short-term price volatility and more tied to the protocol’s utilization rate.

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

Blockchain analytics firm Chainalysis has published an in-depth examination of a sophisticated exploit that drained at least $7.5 million from JaredfromSubway.eth, widely regarded as Ethereum’s most active sandwich-attack operator. According to insights from Chainalysis, the incident unfolded over June 20–21, 2026, when an unknown attacker used a reverse honeypot to turn the bot’s own aggressive trading logic against it.

As explained by Chainalysis, these so-called sandwich attacks are a common maximal extractable value (MEV) tactic on Ethereum.

Bots monitor the public mempool for pending user transactions and insert their own orders around them.

They typically buy a token immediately before the victim’s purchase to push the price higher, then sell right after, profiting from the resulting slippage while the original trader receives a worse execution price.

JaredfromSubway.eth, operating pseudonymously since 2023, built one of the most successful versions of this strategy.

At its peak, the bot was among the network’s largest gas consumers and was estimated to have cost other traders roughly $60 million annually in unfavorable trades while generating tens of millions in profits for its operator.

The June exploit began weeks earlier when the attacker deployed 66 fake token contracts that closely mimicked legitimate assets such as WETH, USDC, and USDT.

These were paired with fabricated liquidity pools engineered to appear as profitable sandwich opportunities.

JaredfromSubway.eth’s bot, optimized for rapid detection of mempool activity, repeatedly interacted with the deceptive contracts.

In doing so, it granted token-spending approvals to the malicious smart contracts.

These approvals were never revoked and accumulated across multiple transactions.

Once sufficient approvals were in place, a tripwire smart contract controlled by the attacker activated.

A single coordinated transaction then swept the bot’s wallets, extracting approximately $7.5 million in Ether and stablecoins.

Chainalysis tracked the subsequent flow using its on-chain tools: the attacker quickly swapped the stablecoins for Ether to reduce freeze risk from issuers, distributed the funds across several wallets, and routed them through Tornado Cash. No recoveries have been reported.

The attack succeeded because the bot granted spending permissions to contracts it never properly vetted.

Chainalysis notes that the operator prioritized speed over basic due diligence, such as checking contract verification status on Etherscan or reviewing deployment history.

This oversight allowed the fake pools to function as an effective honeypot.

The incident carries broader lessons for DeFi participants.

Token approvals function as ongoing permissions that can remain active indefinitely unless explicitly revoked.

Many users—retail traders and automated systems alike—grant broad or unlimited spending rights to contracts they have never reviewed.

Chainalysis highlights the risks of interacting with newly deployed or unverified liquidity pools that lack an established track record.

The firm recommends regularly revoking unused approvals and exercising caution with unfamiliar contracts before approving any spending rights.

Even highly optimized MEV bots are not immune to deception when security hygiene is neglected.

The JaredfromSubway.eth case demonstrates that the same on-chain mechanisms enabling profitable trading can be weaponized by attackers who understand how these systems operate. As Chainalysis observes, protecting against such exploits requires consistent attention to approvals and contract verification, practices that apply equally to sophisticated operators and everyday DeFi users.

The Cardano ecosystem recorded several major developments over the past week. Most notably, the launch of the Leios public testnet led activity. There were also upcoming decentralized finance (DeFi) initiatives, renewed ecosystem funding, and an application-level security incident involving the SecondFi wallet.

Here’s what happened in the Cardano ecosystem in the last week:

Leios Public Testnet Goes LiveCardano officially launched the public testnet for Leios, its next-generation scaling protocol, on June 23. Named Musashi Dojo after the legendary samurai Miyamoto Musashi, the testnet marks one of the network’s most known technical milestones in years. Moreover, the upgrade is seen as a major boost to Cardano’s transaction throughput by up to 65X. A mainnet hard fork is targeted for November 2026.

The rollout is structured into five phases: Earth, Water, Fire, Wind, and Void. These will progressively test the protocol from initial design validation to adversarial testing before mainnet deployment. As a result, the testnet allows stake pool operators (SPOs) to deploy Leios-enabled block producers. Developers can also begin testing decentralized applications (DApps), wallets, and infrastructure ahead of the upgrade.

RealFi Testnet Set for July LaunchInput Output Global (IOG) also announced that Phase 1 of its RealFi testnet will launch on July 6.

The project aims to improve capital efficiency by enabling stablecoins to generate yield instead of remaining idle. The initiative represents IOG’s latest effort to expand decentralized finance (DeFi) use cases within the Cardano ecosystem.

Big news: the RealFi Phase 1 Testnet goes live on 6 July. 🚀

This is our first public step toward next-generation stablecoin infrastructure on Cardano – and a direct response to a problem we've been vocal about:

Crypto's clearest success story has scaled as money. But not as… pic.twitter.com/uQe68ds6iM

— RealFi (@realfi_co) June 24, 2026 Project Catalyst Returns with 2 Million ADACardano’s community funding program, Project Catalyst, will return in August with a 2 million ADA grant pool.

A new Catalyst pilot fund will start in August 2026, with a total grant pool of 2M $ADA.

We look forward to working with the community and supporting the Cardano builders. More details soon.

Read the announcement on the Forum and share your thoughts.https://t.co/MbM7xZ7IKc

— Project Catalyst (@Catalyst_onX) June 26, 2026 The upcoming funding round will prioritize projects building around technologies such as Pyth, Brale, stablecoins, programmable tokens, and on-chain identity. This will provide fresh capital for developers and ecosystem builders.

AlphaGrowth Proposes Treasury-Funded DeFi InitiativeMeanwhile, AlphaGrowth unveiled PRIME, a proposal with a vision to accelerate DeFi adoption on Cardano.

1/11

Cardano DeFi is ready for prime time.

Today we’re introducing PRIME:

a 12-month AlphaGrowth-run program to help Cardano attract liquidity, deepen DeFi usage, and become a first-class destination for capital. pic.twitter.com/nJ11h3jQWr

— alphagrowth (@alphagrowth1) June 22, 2026 The firm plans to request 120 million ADA from the Cardano treasury to fund the initiative. It is also showcasing its previous work with major blockchain ecosystems including Compound, Uniswap, and Arbitrum. Notably, it says it helped support more than $1 billion in total value locked (TVL).

SecondFi Exploit Prompts Security ReminderThe week also saw a security incident involving SecondFi, formerly known as the Yoroi wallet. A vulnerability reportedly resulted in the theft of approximately 16 million ADA.

SecondFi stated that affected users will be fully compensated and advised users to follow updates through its official channels.

Addressing concerns, Cardano founder Charles Hoskinson emphasized that the blockchain itself was not compromised. He stated that Cardano’s protocol, cryptography, and core infrastructure remain secure. 

He described the exploit as an isolated application-level issue rather than a network-wide vulnerability.

Cardano’s native token ADA traded at $0.1439, declining 0.8% over the past 24 hours despite a series of ecosystem developments. 

Story Ends Here

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Local traders in India are now paying more than eight and a half percent extra for Tether’s USDT, a sharp dislocation from the typical 3% to 4% premium. The sudden jump points to a genuine supply shock rather than routine market noise. According to the market update citing The Economic Times, USDT was quoted at INR 102.88 on Saturday, while the dollar-rupee official closing rate sat at 94.65. The gap reveals a market scrambling for stablecoin liquidity at almost any price.

The trigger is not a minor technical adjustment. India’s Enforcement Directorate recently cracked down on INR 250 billion in money transfers conducted through virtual digital assets. That action alone was enough to choke off the normal flow of USDT into domestic exchanges. With fewer fresh inflows arriving, the local order books have thinned, and the price of immediate settlement has shot upward. For traders who use USDT as their primary on-ramp to altcoin markets, the higher premium eats into margins instantly.

A Liquidity Freeze Across India’s Crypto Desks The 8.5% figure is not just an academic spread. It represents a real cost that Indian users must absorb every time they convert rupees into the most liquid dollar-pegged asset. Many exchanges in the country rely on peer-to-peer platforms and OTC desks to move large volumes of stablecoins, and those channels are now severely disrupted. When supply drops, market makers widen their bid-ask spreads, and the entire trading ecosystem slows down. The result is a self-reinforcing cycle: high premiums deter new capital, and lower liquidity pushes premiums even higher.

The Enforcement Directorate’s action focused on massive sums flowing through virtual asset rails, an area that has been under increasing scrutiny since India imposed a 30% tax on crypto gains and a 1% tax deducted at source on every transaction above a certain threshold. That tax regime already pushed many high-frequency traders offshore, and now the enforcement sweep is accelerating the exodus of liquidity. Less onshore USDT means less depth, and less depth means more volatility in the premium.

Regulatory Fear Adds a Risk Premium Purushottam Anand, founder of Crypto Legal, noted that the recent rise likely includes a risk premium driven by regulatory uncertainty. His observation points to a market that is not just responding to a supply shortage but also pricing in the probability of further enforcement actions. Every new probe or seizure redefines what market participants think about the safety of keeping assets on domestic platforms. That uncertainty gets baked into the price of the most critical settlement asset—USDT.

India’s relationship with virtual asset regulation has been ambivalent. While there is no outright ban, the government has used taxation and enforcement as indirect tools. The result is a gray zone where rules are enforced selectively, and the cost of compliance is unpredictable. This week’s premium surge is not the first time Indian traders have paid above market rates for stablecoins, but the magnitude suggests a growing discomfort. When the premium stays elevated, it can push users toward riskier unofficial channels, which paradoxically may be what regulators want to avoid.

While Indian authorities tighten the screws on virtual asset transfers, United States lawmakers face their own regulatory inflection point, with banking interests mobilizing to block a landmark crypto bill just days before a Senate vote. The contrast highlights a global regulatory patchwork that makes capital flows uneven and quick to react to local enforcement signals. Markets treat these events as liquidity events, and India’s premium spike is the latest example.

What Traders Are Watching Next The immediate question is whether new USDT inflows can normalize the premium in the coming days, or if the supply crunch will persist. Much depends on how seriously OTC desks and large holders interpret the Enforcement Directorate’s signals. A single large settlement or a clearer policy statement could bring the premium back toward 4% quickly. But if the current environment lingers, the Indian market may see more trading volume shift toward decentralized platforms and foreign exchanges that do not require onshore stablecoin pools.

The squeeze in India stands in stark contrast to the global surge in tokenized real-world assets, which recently crossed $20 billion in on-chain value as institutional adoption accelerates. While one corner of the crypto ecosystem faces a liquidity drain, another is absorbing record capital. This divergence underlines how local regulatory actions can create micro-market dislocations even when the broader industry trends remain upward.

Yet on the technical front, blockchain infrastructure shows no sign of retreat, with developer activity remaining concentrated across the top networks according to recent weekly data. Protocols continue to iterate, but for Indian crypto users, the immediate challenge is not code—it is access to the very asset that greases the rails of trading. Until the regulatory posture clarifies or fresh supply returns, the 8.5% premium will act as a tax on every trade.

AUTHOR

Freelance writer and crypto enthusiast with a focus on Web3, delivering clear and engaging articles. Known for his well-researched articles and insightful analysis, Shayan covers a broad range of topics including market trends, blockchain technology, decentralized finance (DeFi), and emerging crypto projects. His writing aims to educate both beginners and experts, providing clear, engaging content that helps readers stay informed about the fast-evolving crypto space. Shayan's expertise and dedication make him a trusted voice in the blockchain community.

SHENYANG, CHINA - JUNE 13: Hundreds of yoga enthusiasts practice yoga at the Sun Square of Shenyang Grand Theatre on June 13, 2026 in Shenyang, Liaoning Province of China. (Photo by Cai Jingyu/VCG via Getty Images)

VCG via Getty Images

At a May 30 promotional event on the Great Wall of China, the company featured a giant Japanese taiko drum instead of a culturally appropriate Chinese dagu drum for a musical performance. The misstep immediately sparked backlash for cultural insensitivity and drew over 50 million views on Weibo—other Western brands, including H&M, Dolce & Gabbana, Dior, Burberry, and Gucci, have been caught in similar cultural crosshairs.

It took Lululemon over two weeks to acknowledge the mistake and issue an apology on Weibo, pledging its commitment to honoring Chinese culture—a critical priority for Western brands doing business in China—and accepting responsibility for an inadequate planning and review process.

As global communications firm Edelman said, “Trust is the currency of consumer power,” and another misstep gives loyal customers an excuse to leave the brand and potential customers a reason to look elsewhere—something Lululemon can ill afford now as its business growth slows, leadership is in transition and its stock price is down 50% this year.

Plagued By ControversiesControversies have haunted Lululemon almost from the beginning in 1998 under founder Chip Wilson. He explained that the company name with multiple L’s was originally chosen because it was a letter that Japanese people couldn’t pronounce. “It’s funny to watch them try to say it,” he infamously said.

He later walked it back later by saying the name is “innately North American and authentic” because the letter L does not exist in Japanese phonetics. The Chinese drum controversy recalled those remarks, reinforcing the perception that Lululemon still struggles with cultural awareness.

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Wilson continued to make highly controversial remarks throughout his tenure with the company, which officially ended in 2015. Though as the company’s single largest shareholder, he has persisted in speaking out publicly against leadership’s decisions, most recently in his proxy battle to get his chosen picks on the board.

Back in the day, Wilson defended not offering clothing for plus-sized women because such larger sizes were too expensive to make and he blamed excess pilling in some designs because women were wearing the clothing wrong or had a body shape that wasn’t suitable to its designs.

Beyond such insensitive remarks, the company had a major quality issue in 2013 after widespread complaints emerged that its yoga pants were too sheer. That led to millions of yoga pants being recalled and a reputational crisis for the brand.

Lululemon was hit with further complaints about sheerness in its Align leggings in 2021 and again in 2025. Early this year is got the same complaints for its Get Low leggings, causing the company to temporarily halt online sales. Plus, in 2024, the Breezethrough leggings were pulled for quality issues.

It also was caught making false claims about the health benefits of products made with seaweed-infused fabrics. In 2007, the Canada’s Competition Bureau ruled the company’s claims of anti-inflammatory, detoxifying qualities in its Vitasea product line were unsubstantiated, false and misleading and forced the company to remove all such health benefit claims from its advertising and marketing.

And most recently, in April, the Texas Attorney General Ken Paxton has launched an investigation into Lululemon’s use of PFAS, so-called “forever chemicals” that don’t break down in the environment and may have negative health effects. The company claims it phased out use of the substances in early 2024 and is cooperating with the state. However, it’s one more black eye against the company.

Taken together, these controversies suggest a pattern that Lululemon has never fully put behind it. They invite debate about whether the most recent missteps will quickly fade from memory or if they deepen a persistent trust problem for the brand.

Clouds Of UncertaintyThe general consensus is that the latest China misstep will leave no permanent damage. BNP Paribas analyst Laurent Vasilescu said, “The push back tends to be a short-term headwind.” And RepTrak’s Stephen Hahn noted any reputational damage will remain confined to the local market and have no long-term impact globally. “This story is less likely to drum up any major reputational noise about Lululemon outside of China.”

However, the China drum incident, paired with the Texas AG’s PFAS investigation, reopens the question of whether Lululemon is a brand consumers can trust. It refreshes memories of past controversies and casts the company once again in a negative light.

Notably, during the first-quarter earnings call, the company acknowledged it experienced “spikes of negative commentary” in the media and across social media—including in China where brand momentum slowed after a strong Chinese New Year. And that was before the Great Wall of China fiasco, casting a cloud over second-quarter results, potentially even beyond.

Customer trust is the key metric. Edelman’s global research among 15,000 consumers in 15 countries found 88% rank trust equally important to “ best quality” and “good value for the money” when making a purchase decision. Lululemon is challenged on all counts—quality questions persist, value is threatened amid rising prices and trust shaken by cultural missteps and regulatory scrutiny.

GlobalData retail analyst and managing director Neil Saunders told CBS News earlier this year that Lululemon’s products have become “junkified,” adding, “What it suggests is that there’s kind of a lack of quality control, there’s a lack of care, there’s a lack of attention to detail.”

Reasons To FleeConsumers have a long memory when controversies around a brand’s cultural sensitivity and product quality issues resurface again and again—a memory that shapes how they interpret its latest controversies and could drive them to look elsewhere. And unlike in Lululemon’s early days, the competition is coming on strong.

Privately-held Vuori has reached a market cap of $5.5 billion valuation after a recent investment round. It’s on a path to 100 global stores, including five just opened in China, and an IPO is rumored to be in the works.

Alo Yoga has about 130 stores globally, with plans to open a 7,000-square-foot, two-story Hong Kong waterfront store shortly. Forbes estimates that Alo Yoga’s parent company, Color Image Apparel, has generated nearly $2 billion most recently.

And heavy-hitter Nike entered the premium women’s activewear market in a collaboration with Kim Kardashian’s SKIMS brand last year, with the NikeSKIMS product line expanding globally this year.

The irony is that Lululemon, a brand that once defined the athleisurewear category, opened the door for these and other challengers while being distracted by controversies of its own making.

And hanging over all of this is Chip Wilson’s highly-publicized proxy battle where he was characteristically outspoken about the company’s leadership mistakes and claims that Lululemon has “lost its cool.”

Eroding TrustBefore the China drum backlash, Lululemon was guiding on a net revenue decline between 2%-3% in the second quarter, after squeaking out 4% revenue growth in the first quarter. In the latest earnings call, the company acknowledged headwinds as it entered the second quarter around negative publicity—e.g. Wilson’s critiques and the Texas PSFA investigation—and recent product launches that didn’t “generate anticipated guest response,” such as the alleged see-thru Get Low leggings.

These remarks came before the China controversy, which is likely to hit the company’s sales harder than its earlier guidance suggests. Noting that momentum is slowing in China—comparable sales slipped from 30% in fourth quarter 2025 to 20% in first quarter 2026—BNP Paribas warned, “We are worried that China revenues will flatten out,” as it also expressed concerns about Lululemon’s continued decline in North America—the Americas comparable sales dropped 5% in first quarter. And the firm noted this was before the full impact of the two recent social media controversies are factored into results.

The last thing Lululemon needs now is further erosion of consumer trust and while the particulars of the latest controversies will fade, more general negative feelings about the brand are likely to persist, adding fuel to the competition’s fire.

If trust continues to slip, the question won’t be if Lululemon can regain momentum with new product drops and marketing initiatives, but whether consumers will continue to give the brand the benefit of the doubt.

See Also:

ForbesLululemon Controversy In China Threatens Growth In Key MarketBy Mary Whitfill RoeloffsForbesLululemon Founder Chip Wilson Wins Two Board Seats To End Bitter Proxy BattleBy Pamela N. DanzigerForbesLululemon's Billionaire Founder Has Been Fighting To Oust Its CEO–He Won, But He’s Still Not HappyBy Simone Melvin

Key Takeaways BKR won a subsea production systems contract for Azule Energy's Greater PAJ project in Angola.The award includes deepwater trees, control systems, installation, commissioning and production services.Delivery of BKR's subsea trees is expected to begin in 2027, boosting order backlog & its presence in Africa. Baker Hughes Company (BKR - Free Report) has secured a significant contract from Azule Energy to provide subsea production systems for the Greater PAJ offshore development in Angola, strengthening its position in the global deepwater services market. The award underscores BKR’s industry leadership in offshore production technologies while broadening its presence across one of Sub-Saharan Africa's premier energy-producing regions.

Under the agreement, Baker Hughes will supply deepwater horizontal tree systems, subsea control modules, intervention workover control systems and associated connection, distribution and topside equipment. The company will also provide integrated tooling, installation support, commissioning and ongoing production services through its established facilities in Angola. This broad scope allows BKR to generate revenues not only from equipment sales but also from services throughout the project's operating life.

The contract highlights Baker Hughes' technological advantage in ultra-deepwater developments. Its horizontal tree systems are engineered to operate at pressures of up to 10,000 pounds per square inch and water depths of 10,000 feet, while their modular design supports faster deployment and improved long-term production efficiency.

The award also reinforces BKR’s long-standing footprint in Angola, where it already maintains the largest installed subsea equipment base in Sub-Saharan Africa. Leveraging its local infrastructure and supply chain is expected to improve execution efficiency and strengthen customer relationships.

With subsea trees delivery scheduled to begin in 2027, the contract enhances Baker Hughes' future order backlog and revenue visibility. The agreement strengthens BKR’s business model and customer base while enhancing investor appeal by highlighting robust demand for its offshore production technologies.

Baker Hughes currently carries a Zacks Rank #4 (Sell).

The business models of oilfield equipment and service providers, including BKR, are closely linked to the capital spending of upstream players. With Brent prices trading above the $70-per-barrel mark and West Texas Intermediate (“WTI”) crude prices trading around the $70-per-barrel mark, according to oilprice.com, players like Vista Energy, S.A.B. de C.V. (VIST - Free Report) , YPF Sociedad Anónima (YPF - Free Report) and W&T Offshore, Inc. (WTI - Free Report) which have presence in upstream operations are benefiting from the elevated crude pricing environment. WTI and VIST currently carry a Zacks Rank #2 (Buy) each, while YPF sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Vista operates 205,600 acres within the Vaca Muerta Basin, widely recognized as Argentina's premier shale basin. Supported by this massive footprint, VIST expects to achieve production of 200 thousand barrels of oil equivalent per day by 2030.

Argentina’s integrated energy company, YPF, has an extensive footprint in the Vaca Muerta formation to fuel production growth. YPF anticipates increased spending and activity in the coming quarters to bolster oil and gas production in the second half of 2026.

W&T Offshore’s robust offshore footprint in the Gulf of America spans approximately 605,000 acres and supports a large reserve base. WTI's 1P and 2P reserves provide 20 years of production potential and resource longevity.

Bitcoin infrastructure company Breez has added a feature to its developer toolkit that lets users send USDC (USDC) and USDt (USDT) across more than 30 blockchain networks directly from a Bitcoin balance, without first converting or holding stablecoins.

According to an announcement shared with Cointelegraph, the feature uses the Lightning Network alongside automated conversion to route payments from Bitcoin (BTC) to USDC or USDT before delivering funds to the recipient's preferred blockchain.

When a user enters a recipient's wallet address, the Breez SDK identifies the destination blockchain, calculates a conversion route and displays the amount, network and fees before the payment is confirmed. The transaction is then routed through liquidity providers, including Flashnet and Boltz, which convert the sender's Bitcoin into stablecoins and deliver it on the recipient's chosen blockchain.

Roy Sheinfeld, CEO of Breez, told Cointelegraph the feature does not require USDT or USDC to be issued on the Lightning Network. Instead, it relies on "interoperability" to let users spend from a Bitcoin balance while recipients receive stablecoins on supported blockchain networks.

Breez said users continue holding Bitcoin until they initiate a payment, while recipients receive stablecoins on their preferred blockchain without requiring the sender to manage separate stablecoin balances. The feature is non-custodial and initially supports only outbound stablecoin payments, with support for receiving stablecoins from external blockchain networks planned for a future release.

The feature is designed to allow developers to add stablecoin payments without integrating multiple blockchain networks or requiring users to manage separate Bitcoin and stablecoin balances.

Bitcoin payment infrastructure expandsThe launch comes as companies expand Bitcoin and the Lightning Network, a layer-2 payment network designed to make Bitcoin transactions faster and less expensive, into new financial and commercial applications.

In February, Secure Digital Markets, an institutional trading and lending desk, completed a $1 million Bitcoin payment to Kraken over the Lightning Network in less than half a second, demonstrating the protocol's potential for high-value institutional transfers. The transaction illustrated how Lightning is increasingly being tested for use cases beyond small retail payments.

That same month, Bitcoin infrastructure company Voltage introduced a US dollar-settled revolving credit line that embeds business credit into Lightning payment flows, allowing companies to settle repayments in either US dollars or Bitcoin. The product is intended to enable businesses to access working capital using Lightning for payments, without holding crypto on their balance sheets.

Event platform Satlantis also launched a Bitcoin-native ticketing platform with embedded Lightning wallets, allowing organizers to sell tickets and accept BTC alongside traditional payment methods.

In March, Tether-backed Bitcoin infrastructure startup Ark Labs in a $5.2 million funding round to develop technology supporting stablecoin issuance, transfers and settlement on Bitcoin.

Lightning adoption has continued to grow. A February report from River estimated the network surpassed $1 billion in monthly transaction volume in late 2025, up from around $12 million in 2021.

Lightning Network transaction volumes continue to grow. Source: River

Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Key Takeaways Magnolia Oil & Gas reportedly leads bidding for WildFire Energy in a deal valued at more than $4 billion.MGY's potential purchase would be its largest acquisition and would expand its shale asset portfolio.WildFire operates 2,000 wells producing over 50,000 boe/d, making it an attractive acquisition target. Magnolia Oil & Gas Corporation (MGY - Free Report) is reportedly emerging as the leading contender to acquire privately held WildFire Energy in a deal valued at more than $4 billion. According to a Bloomberg report cited by SeekingAlpha, the acquisition would be the largest in MGY's history and signal a significant shift from its traditionally conservative growth strategy.

If finalized, the transaction would further underscore the ongoing consolidation trend in the U.S. oil and gas industry, where producers are seeking larger, higher-quality asset portfolios to strengthen long-term competitiveness.

Magnolia Oil & Gas Reportedly Leads the Bidding ProcessAccording to reports, Magnolia Oil & Gas is poised to win the auction for Texas-based WildFire, which is backed by private equity firms Warburg Pincus and Kayne Anderson. While the companies have not officially confirmed the transaction, sources indicate that negotiations are at an advanced stage and an announcement could come within weeks.

The acquisition process remains competitive, meaning another bidder could still emerge before a final agreement is reached.

A Major Strategic Shift for Magnolia Oil & GasA transaction exceeding $4 billion would represent a notable departure from Magnolia Oil & Gas' long-standing strategy of disciplined capital allocation and smaller, bolt-on acquisitions.

The company has built its reputation on maintaining capital efficiency, preserving a strong balance sheet and returning value to shareholders. Acquiring WildFire would significantly expand MGY's operational footprint while demonstrating a greater willingness to pursue transformative growth opportunities.

If completed, the deal would become Magnolia Oil & Gas' largest acquisition to date and could redefine its position among independent U.S. exploration and production companies.

WildFire Brings High-Quality Shale AssetsWildFire has become an attractive acquisition target thanks to its sizable portfolio of producing assets. The company operates more than 2,000 wells that collectively produce over 50,000 barrels of oil equivalent per day (boe/d).

Its management team also brings substantial industry experience, having previously led WildHorse Resource Development before selling that company to Chesapeake Energy in 2019.

These established operations and experienced leadership make WildFire a valuable asset for companies seeking immediate production growth.

Industry Consolidation ContinuesThe reported acquisition reflects a broader trend reshaping the U.S. upstream energy sector. Over the past two years, oil and gas companies have increasingly pursued mergers and acquisitions to secure premium shale acreage, improve operating efficiencies and achieve greater economies of scale.

Strong commodity prices have generated substantial cash flows, allowing many producers to pursue strategic acquisitions while positioning themselves for long-term competitiveness against larger integrated energy companies.

Private equity-backed producers such as WildFire have become especially attractive targets as public companies look to expand through acquisitions rather than organic development alone.

Investors to Watch Financing and Capital AllocationAlthough Magnolia Oil & Gasappears to be the leading bidder, investors are likely to focus on how the company finances a transaction of this size.

The acquisition could have implications for Magnolia Oil & Gas' capital allocation strategy, including shareholder returns programs such as dividends and share repurchases that have been central to its investment appeal.

Market participants will also evaluate whether the expected operational synergies and production growth justify the scale of the investment.

What the Deal Could Mean for Magnolia Oil & GasWhile the reported acquisition has not yet been finalized, Magnolia Oil & Gas appears to be positioning itself for a transformational expansion. If the company successfully acquires WildFire, it would gain a significant portfolio of shale assets while joining the growing list of independent producers pursuing larger-scale consolidation.

As the energy industry continues to evolve, the outcome of this potential deal could shape MGY's long-term growth strategy and further accelerate consolidation across the U.S. upstream sector.

MGY’s Zacks Rank & Key PicksMagnolia Oil & Gas is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Currently, MGY carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like Global Partners LP (GLP - Free Report) , Delek US Holdings, Inc. (DK - Free Report) and Liberty Energy Inc. (LBRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. It owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for GLP’s 2026 earnings indicates 113.1% year-over-year growth.

TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The company’s operations are organized into two reportable segments: Refining and Logistics. The Zacks Consensus Estimate for DK’s 2026 revenues indicates 5.9% year-over-year growth.

Liberty Energy is a leading North American oilfield services company, specializing in hydraulic fracturing and completion solutions. The company provides differentiated services through advanced technology integration and real-time data analytics. The Zacks Consensus Estimate for LBRT’s 2026 earnings indicates 66.7% year-over-year growth.

Key Takeaways ACHR expands flight testing to validate aircraft systems and support regulatory certification.ACHR advances Midnight certification through compliance, testing and system validation activities.ACHR certification progress supports future aircraft deliveries and commercial deployment plans. Archer Aviation Inc. (ACHR - Free Report) continues making progress toward aircraft certification, a critical milestone in its path to commercial operations. The company is working closely with regulators to complete certification activities for its Midnight aircraft while continuing flight testing, system validation and compliance efforts. Achieving certification is expected to support commercial deployment and strengthen Archer Aviation's position within the emerging electric aircraft market.

Aircraft certification requires extensive testing and validation to demonstrate that an aircraft satisfies regulatory safety and performance standards. Archer Aviation continues expanding its test program by evaluating aircraft systems, flight characteristics and key components while generating data that supports the certification process. These activities help the company refine its aircraft while advancing toward regulatory approval.

Certification progress also strengthens Archer Aviation's commercial prospects. Reaching this milestone would enable the company to begin aircraft deliveries, support planned customer deployments and execute commercial agreements. Continued advancement through the certification process also reflects Archer Aviation's growing operational and engineering capabilities as it prepares for commercial production.

As the advanced aviation market evolves, regulatory approval is expected to remain one of the most important milestones for industry participants. Archer Aviation's continued focus on certification activities positions the company to support future commercial operations while strengthening its long-term growth outlook.

Companies Advancing Aircraft Certification ProgramsAircraft developers continue investing in certification activities as they prepare next-generation aircraft for commercial service. Companies like Joby Aviation, Inc. (JOBY - Free Report) and BETA Technologies, Inc. (BETA - Free Report) are also progressing certification efforts for their electric aircraft platforms.

Joby Aviation continues advancing flight testing and certification activities for its electric aircraft while working toward commercial passenger operations.

Beta Technologies is making progress in the certification of its electric aircraft through continued flight testing, system validation and regulatory engagement to support future commercial operations.

Earnings Estimates for ACHR StockThe Zacks Consensus Estimate for 2026 and 2027 earnings per share suggests a year-over-year decline of 61.90% and growth of 7.51%, respectively.

Image Source: Zacks Investment Research

ACHR Stock Trading at a DiscountArcher Aviation is trading at a discount relative to the industry, with a trailing 12-month price-to-book of 1.78X compared with the industry average of 6.02X.

Image Source: Zacks Investment Research

ACHR Stock Price PerformanceOver the past three months, ACHR shares have fallen 1.4% against the industry’s 3.9% growth.

Image Source: Zacks Investment Research

ACHR’s Zacks RankArcher Aviation currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways ELF enters fiscal 2027 with more growth levers but slower momentum in its flagship brand. Rhode topped $500M in annualized global retail sales and grew net sales more than 80%. ELF expects fiscal 2027 net sales of $1.835B-$1.865B and adjusted EBITDA of $379M-$385M. e.l.f. Beauty, Inc. (ELF - Free Report) enters fiscal 2027 with a wider platform but a more complicated investment setup.

Rhode, Naturium, e.l.f. SKIN and international expansion give the company more growth levers. The key question is whether those levers can offset slower momentum in the flagship e.l.f. brand.

ELF Has More Than One Growth Enginee.l.f. Beauty is no longer just a low-price cosmetics story. Its portfolio now includes e.l.f. Cosmetics, e.l.f. SKIN, rhode, Naturium and Well People, spanning mass beauty, prestige skin care and digital-led brands.

The shift has changed the risk profile. Non-e.l.f. brands rose from 0% to 30% of global consumption over the past three years, while skin care increased from 9% to 23%. That lowers dependence on a single product cycle and gives ELF multiple paths to growth.

The Estee Lauder Companies Inc. (EL - Free Report) remains a relevant benchmark in prestige beauty because its portfolio spans skin care, makeup, fragrance and hair care. Ulta Beauty, Inc. (ULTA - Free Report) is also central to the beauty ecosystem as a specialty retailer that connects consumers with mass, prestige and emerging brands.

Rhode Gives e.l.f. Beauty New ReachRhode is the clearest growth catalyst in the portfolio. On an annualized basis in fiscal 2026, the brand generated more than $500 million in global retail sales and about $390 million in net sales, with net sales rising more than 80% year over year.

Its retail start has been notable. Rhode reached the number one beauty brand ranking in Sephora North America and delivered record-breaking launches with Sephora in the United Kingdom and MECCA in Australia and New Zealand.

Distribution still leaves room for growth. Rhode is in less than 20% of Sephora’s global stores, while about 20% of its direct-to-consumer sales and 74% of social followers are outside the United States.

Image Source: Zacks Investment Research

ELF Needs Its Core Brand to ReaccelerateThe flagship e.l.f. brand still drives the investment case. e.l.f. Cosmetics produced about $1.8 billion in fiscal 2026 global retail sales and gained 115 basis points of U.S. color cosmetics market share during the year.

That scale also makes the recent slowdown harder to ignore. e.l.f. brand global consumption moderated from high single digits in fiscal 2026 to low single digits in the final 12 weeks of the year, as spring 2026 innovation produced less lift across core items than expected.

Management is responding through pricing, innovation, international focus and leadership changes. The company cut the price of Halo Glow Skin Tint from $18 to $14, with initial tests showing a 38% lift on Amazon and a 36% lift across all retailers.

e.l.f. Beauty Faces Margin PressureTop-line growth is not fully flowing through to earnings. Fiscal 2026 net sales rose 25%, while adjusted EBITDA increased 13%, showing that spending and cost pressures are absorbing part of the revenue benefit.

Marketing and digital expenses were about 24% of net sales in fiscal 2026. The Zacks Rank #3 (Hold) company is also navigating tariff exposure, inflation and a more retail-heavy Rhode channel mix, which can affect near-term profitability as the brand scales beyond direct-to-consumer sales. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The fiscal 2027 outlook still points to growth. Management expects net sales of $1.835 billion to $1.865 billion and adjusted EBITDA of $379 million to $385 million, compared with fiscal 2026 adjusted EBITDA of $335 million.

How ELF Stock Signals Fit the SetupELF looks like a balanced story rather than a straightforward momentum call. Rhode, Naturium, e.l.f. SKIN and international growth have expanded the company’s runway, but the core brand must reaccelerate for investors to regain confidence in organic growth.

The stock’s setup is also constrained by signal gaps. Specific Zacks Rank and Style Scores are not available for investors to lean on, leaving the brand reset, Rhode’s rollout and margin execution as the more useful near-term markers.

For investors, that argues for discipline. A favorable Zacks Rank and strong Style Scores can help identify stocks with better earnings-revision and style characteristics over the next one to three months, but ELF’s current case depends more on execution than on a clean quantitative read.

The architectural boundaries dividing traditional institutional debt markets from decentralized liquidity networks have dissolved further. In a major advancement for the on-chain economy, the tokenized private credit product mGLOBAL has officially gone live on the newly activated Aave Horizon RWA Market. The strategic integration, which launched on June 24, enables institutional and Web3 investors to utilize a highly secure, asset-backed corporate strategy as live collateral. For the first time within this specialized framework, users can leverage these tokenized positions to borrow stablecoins and extract capital directly from Aave, the world’s largest decentralized lending protocol, which currently commands more than $24billion in net deposits.

Demystifying the mGLOBAL Tokenized Infrastructure Engineered and issued by digital asset innovator Midas, mGLOBAL operates as a fully compliant security token structurally linked to the financial performance of Fasanara Capital’s flagship receivables strategy. Moving away from the volatile, crypto-native backing that characterized early decentralized lending models, the underlying portfolio invests heavily in short-duration trade receivables, digital supply-chain invoices, and asset-based corporate finance exposures.

This underlying focus on real-world transactional commerce constructs an exceptionally diversified private credit grid designed to maintain steady yields across shifting macroeconomic cycles. The current operational parameters of the underlying credit portfolio highlight its massive scale:

Global Footprint: Asset exposure and risk distribution extending across more than 60 sovereign countries.

Diversified Origination: Upwards of 140 independent credit originators actively channeling high-quality debt instruments into the fund.

Granular Risk Mitigation: A massive baseline comprising more than 700,000 active open positions to minimize individual counterparty defaults.

Institutional Scaling and Capital Foundations Fasanara Capital, a technology-driven global asset manager, brings deep institutional validity to the on-chain ecosystem, currently managing over $6billion in assets on behalf of traditional pension funds, insurance firms, and family offices. The mGLOBAL vehicle debuts on Aave’s RWA platform with a robust $40million in Total Value Locked (TVL), anchored by a prominent seed allocation from specialized Web3 institutional investment platform InfiniFi.

The deployment underscores the aggressive growth trajectory maintained by Midas since its operational market entry. Established originally in 2024, the tokenization platform recently closed a major $50million Series A funding round to expand its real-world asset engineering pipeline. To date, Midas has orchestrated over $2billion in total digital asset issuance while successfully distributing more than $43million in yield payouts directly to its international client roster.

Real-World Assets Mature into Core Corporate Treasury Rails The implementation of mGLOBAL within Aave’s ecosystem marks a definitive maturity phase for the digital asset landscape. Historically, decentralized lending protocols operated as highly cyclical, speculative sandboxes heavily dependent on native token rewards. By systematically introducing asset-backed corporate invoices and short-term global trade debts into the protocol’s collateral tiers, the network is establishing a more resilient, low-volatility environment for corporate capital.

For sophisticated asset managers, the capability to lock institutional trade receivables into a protocol like Aave to instantly draw stablecoin liquidity represents a profound optimization of capital efficiency. It permits traditional yield-bearing assets to be leveraged natively onchain without forcing the premature liquidation of the underlying private credit positions. As traditional capital markets and distributed ledger technology continue to merge into a single, cohesive financial system, alliances between automated clearing networks like Aave and asset heavyweights like Midas and Fasanara are actively drawing the blueprint for the next generation of global corporate treasury management.