Decentralized exchange Oxium will shut down on Aug. 1 after prolonged weak market conditions made the business financially unsustainable, becoming the latest casualty of a difficult environment for smaller crypto trading platforms.
In a statement published on X, the team behind the Sei-based decentralized exchange said declining revenue had made it impossible to continue operating despite years of development on the network. Users have been advised to close positions, cancel open orders and withdraw assets before the web interface is taken offline on Aug. 1, although the protocol’s smart contracts will remain accessible for recovering funds.
The closure underscores the pressure facing smaller decentralized finance protocols as trading volumes remain concentrated among a handful of dominant exchanges and liquidity providers. Even as Bitcoin trades near historic highs, many DeFi applications continue to struggle to generate sufficient fees to sustain development teams.
Team Cites Revenue Collapse Rather Than Security Problems Unlike many recent DeFi shutdowns triggered by hacks or exploits, Oxium said its closure is purely financial.
“After careful consideration, we have made the difficult decision to wind down Oxium,” the team wrote. “Prolonged unfavorable market conditions have left our revenue too low to sustain operations, and running the platform is no longer financially viable.”
The team emphasized that user assets remain secure because they are held in smart contracts rather than under the platform’s custody.
Users have until Aug. 1, 2026 to use the Oxium interface to withdraw assets. After that date, funds will remain recoverable directly through the underlying smart contracts, although the process will become significantly more technical.
Oxium Wind Down Details Reason for closure Insufficient revenue Blockchain Sei Interface shutdown Aug. 1, 2026 User assets Remain recoverable through smart contracts User action requested Withdraw funds before interface closes Crypto Recovery Has Not Reached Every Protocol The announcement illustrates an increasingly visible divide within the digital asset industry.
While Bitcoin, stablecoins and institutional infrastructure businesses have experienced renewed growth during 2025 and 2026, many smaller decentralized applications continue facing declining activity. Liquidity has become increasingly concentrated among larger exchanges, perpetual futures platforms and dominant DeFi protocols, making it difficult for smaller venues to attract sufficient trading volume.
Why Smaller DeFi Platforms Continue To Shut Down
Challenge Impact Lower trading volumes Reduced protocol fees Liquidity concentration Harder to attract traders High development costs Operating losses increase Competition from major exchanges Revenue pressure intensifies For decentralized exchanges, transaction fees remain the primary source of operating revenue. When trading activity slows, protocol income can fall rapidly while engineering, infrastructure and security costs remain largely fixed.
Oxium’s statement suggests that the platform ultimately reached the point where operating expenses exceeded sustainable fee generation.
Users Retain Custody Of Assets The team stressed that customer assets remain safe because the protocol operates through smart contracts.
Rather than freezing withdrawals, Oxium is encouraging users to exit while its interface remains online. After Aug. 1, users would need to interact directly with blockchain contracts to recover assets, a process that typically requires greater technical knowledge and specialized wallet tools.
That distinction highlights one of decentralized finance’s key structural differences from centralized exchanges. Even when a protocol’s operating company closes, properly designed smart contracts can continue functioning independently of the original development team.
FinanceFeeds recently covered MoonPay’s acquisition of AI finance platform Entendre, Galaxy Digital’s investment in institutional crypto lending infrastructure, Zero Hash’s expansion into staking infrastructure, Payward’s continued global licensing expansion, and Bitcoin Suisse’s MiCAR licence. While institutional crypto infrastructure continues attracting investment and regulatory approvals, Oxium’s closure shows that smaller DeFi trading venues remain under significant commercial pressure.
Industry Consolidation Continues Oxium’s shutdown reflects a broader consolidation trend across digital assets, where capital and liquidity continue flowing toward larger, better-capitalized platforms.
For users, the immediate priority is withdrawing assets before the interface disappears. For the industry, the announcement serves as another reminder that successful blockchain technology alone does not guarantee a sustainable business model if trading activity and protocol revenue fail to reach critical scale.
Takeaway Oxium is closing because its business became economically unsustainable, not because of a security breach or technical failure. The announcement highlights an increasingly important reality in crypto markets: while institutional adoption continues accelerating, many smaller DeFi platforms remain unable to generate enough trading activity to support long-term operations. As liquidity concentrates around larger ecosystems, commercial viability is becoming just as important as technological innovation.
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.
Barry Silbert, founder and CEO of Digital Currency Group (DCG), parent company of Grayscale, reposted on X to disclose that crypto exchange Kraken is set to list Alpha tokens from Bittensor subnets. According to leaked details, the first batch of tokens to be listed includes Chutes, Targon, Score, Ridges AI, Hippius, and others.
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New York, New York--(Newsfile Corp. - June 29, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Roblox Corporation (NYSE: RBLX) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Roblox securities between October 30, 2025 and April 30, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/RBLX.
Roblox Case Details
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:
(1) Defendants overstated Roblox's organic growth potential and the Company's ability to sustain "tremendous organic growth" following the rollout of its age verification features;
(2) Defendants downplayed and failed to adequately disclose the severity and certainty of headwinds associated with the age verification rollout, including a slowdown in user enrollment, reduced on-platform communication, and associated negative impacts on app store ratings;
(3) as a result of these undisclosed trends, Roblox's growth rates were expected to decline more sharply than represented; and
(4) as a result of the foregoing, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading at all relevant times.
What's Next for Roblox Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/RBLX. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Roblox you have until August 7, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Roblox Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Spotify (NYSE:SPOT | SPOT Price Prediction) and Netflix (NASDAQ:NFLX) both reported Q1 2026 earnings that sent each stock lower, but for very different reasons.
Spotify beat on profit and kept stacking subscribers. Netflix posted a headline-friendly cash flow number that was mostly a one-time check from a deal it walked away from. Two subscription giants. Two very different stories about where the money is actually coming from.
Audio Profits Land. A Termination Check Pads Video. Spotify pulled $4.53 billion in revenue, up 8.19% year over year, with EPS of $3.45 against a $2.950 consensus. Premium subscribers reached 293 million, MAUs hit 761 million, and Premium gross margin expanded from 34% to 35%.
Price hikes added €0.42 to Premium ARPU. Ad-supported revenue fell 5%, and ad gross margin slipped to 13%. New features like SongDNA, Prompted Playlist, and a Spotify integration inside ChatGPT lean into personalization.
Netflix booked $12.25 billion in revenue, up 16.19%, but EPS of $1.23 missed the $1.345 consensus. The eye-popping $5.09 billion free cash flow was inflated by a $2.80 billion termination fee from the abandoned Warner Bros. deal. The ad tier was over 60% of sign-ups in ads markets, and advertiser count grew 70% to over 4,000 clients.
One Tightens Focus. One Widens the Net. Spotify is doubling down on what it already owns: audio. The Partner Program courts video podcasters, audiobooks slot into Premium bundles, and the Spotify Ad Exchange leans into biddable inventory.
Netflix is sprinting in five directions at once: GenAI filmmaking tools from acquiring InterPositive, the Netflix Playground kids gaming app, video podcasts, live boxing, and the World Baseball Classic that became its most-watched program ever in Japan.
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Lens Spotify Netflix Core Bet Audio plus audiobooks Ads, live events, gaming Big Risk MLC lawsuit, ~€410M exposure Content amortization peaks in Q2 2026 2026 Margin Target Expanding Premium margin 31.5% operating margin The Next Test Is Ads Becoming Real Money Netflix guided ad revenue to roughly $3 billion in 2026, double last year. Polymarket traders see Q2 operating margin landing between 32% and 36% with 80% combined probability.
Spotify’s path is narrower: keep nudging Premium ARPU higher without losing the price-sensitive cohort and stop the ad business from leaking. I’ll be watching whether Spotify’s biddable ad rollout halts that 5% ad revenue slide before it becomes a trend.
Both stocks have been punished. SPOT is down 39.32% over one year. NFLX is down 43.84%.
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Netflix fits a different investor. If you believe ads scale toward $3 billion, live sports keep printing sign-up records, and the 31.5% margin target holds, the post-earnings drawdown reflects a meaningful reset.
A couple of clean quarters without one-time inflation would strengthen the thesis. Walking away from Warner Bros. was disciplined, but it leaves the content engine relying on its own slate at exactly the moment competition from YouTube and TikTok keeps thickening.
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S&P Global (SPGI) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
SummaryAutomatic Data Processing, Inc. becomes attractive after a 17% price decline, as the market overreacts to AI disruption risks.ADP's Q3 2026 revenue grew 7% YoY to $5.9B, with all business segments and PEO services showing robust demand and increased client reliance.ADP's deep client integration, comprehensive compliance solutions, and data moat make client migration to AI alternatives costly and complex.The company benefits from interest income on $48.3B in client funds and maintains strong liquidity, covering 81% of borrowings with $3.2B in cash. J Studios/DigitalVision via Getty Images
In the age of the AI revolution, lots of opportunities are coming into the market as more businesses aim to automate their processes. But for the HCM industry, or human capital management, the impact can be disruptive if
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ADP over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Key Takeaways Four Days of Trading This Week, with Friday Observing Independence Day"Jobs Week" Begins Tuesday with JOLTS Data for MayADP, BLS and Weekly Jobless Claims Hit the Tape Later This Week Monday, June 29th, 2026
We begin a new holiday-shortened trading week (we’ll observe Independence Day this year on Friday, July 3rd, which will make for a nice three-day weekend) looking at jobs numbers from last week, last month and before. We call it “Jobs Week” in this column — each month we’re treated to quality updates of the domestic labor market. Of late, these figures appear to be improving from the doldrums of last year around this time.
Oil prices are back down to pre-Iran war lows, $70 per barrel (/bbl) on WTI and $72/bbl on Brent crude, despite renewed fighting over the weekend as both the U.S. and Iran try to hang onto the peace agreement -- or Memorandum of Understanding -- that aim to bring hostilities to an end between the two countries. This is proving to be a marathon, not a print, so it behooves us to keep an eye on developments throughout every trading week in current conditions.
Jobs Report Releases Throughout This Week
Starting Tuesday, we’ll see the Job Openings and Labor Turnover Survey (JOLTS) report one month in arrears from other employment data: May. Following the highest levels since November 2024 last month at 7.6 million, expectations are for this to go a smidge higher, to 7.7 million. Professional & Business Services had a huge month in job openings last time around, +668K, and every region gained except for the Midwest, which trimmed openings by -11K.
Wednesday brings us private-sector payrolls from Automatic Data Processing (ADP - Free Report) for June, and here we’re also coming off the highest levels of the year: +122K for May. We expect this to roll back somewhat, to +110K, but this would still provide the first cluster of +100K private-sector jobs for three straight months since November ’24 through January ’25. March through June of last year brought us four-straight negative private sector jobs numbers, so we’re clearly up off the mat in this regard.
On Thursday, the final day of trading for the week with Friday off, we expect both the normal Weekly Jobless Claims reports and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS). This is the Big Kahuna of monthly labor data, including a Household Survey that brings us a fresh Unemployment Rate, which is projected to remain steady at an historically healthy +4.3%.
Headline BLS for June is expected to come down to 118K from 172K reported a month ago. This would bring us the second-straight lower monthly jobs tally, but three-straight above +100K for the first time in more than two years. Wages are expected to have grown steadily, +0.3% month over month and +3.5% year over year. We’ve come a long way from the February dive of -159K jobs, which was the worse labor force performance since the Covid pandemic.
Questions or comments about this article and/or author? Click here>>
We begin a new holiday-shortened trading week (we’ll observe Independence Day this year on Friday, July 3rd, which will make for a nice three-day weekend) looking at jobs numbers from last week, last month and before. We call it “Jobs Week” in this column — each month we’re treated to quality updates of the domestic labor market. Of late, these figures appear to be improving from the doldrums of last year around this time.
Oil prices are back down to pre-Iran war lows, $70 per barrel (/bbl) on WTI and $72/bbl on Brent crude, despite renewed fighting over the weekend as both the U.S. and Iran try to hang onto the peace agreement -- or Memorandum of Understanding -- that aim to bring hostilities to an end between the two countries. This is proving to be a marathon, not a print, so it behooves us to keep an eye on developments throughout every trading week in current conditions.
Jobs Report Releases Throughout This WeekStarting Tuesday, we’ll see the Job Openings and Labor Turnover Survey (JOLTS) report one month in arrears from other employment data: May. Following the highest levels since November 2024 last month at 7.6 million, expectations are for this to go a smidge higher, to 7.7 million. Professional & Business Services had a huge month in job openings last time around, +668K, and every region gained except for the Midwest, which trimmed openings by -11K.
Wednesday brings us private-sector payrolls from Automatic Data Processing ((ADP - Free Report) for June, and here we’re also coming off the highest levels of the year: +122K for May. We expect this to roll back somewhat, to +110K, but this would still provide the first cluster of +100K private-sector jobs for three straight months since November ’24 through January ’25. March through June of last year brought us four-straight negative private sector jobs numbers, so we’re clearly up off the mat in this regard.
On Thursday, the final day of trading for the week with Friday off, we expect both the normal Weekly Jobless Claims reports and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS). This is the Big Kahuna of monthly labor data, including a Household Survey that brings us a fresh Unemployment Rate, which is projected to remain steady at an historically healthy +4.3%.
Headline BLS for June is expected to come down to 118K from 172K reported a month ago. This would bring us the second-straight lower monthly jobs tally, but three-straight above +100K for the first time in more than two years. Wages are expected to have grown steadily, +0.3% month over month and +3.5% year over year. We’ve come a long way from the February dive of -159K jobs, which was the worse labor force performance since the Covid pandemic.
ADP (ADP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
However, the company is now tweaking its approach with a new Digital Credit Capital Framework. Rather than simply accumulating Bitcoin, Strategy is building a comprehensive capital management system around it—one that increasingly resembles Wall Street’s closest equivalent to a Bitcoin treasury institution.
The framework introduces formal policies governing cash reserves, Bitcoin monetization, preferred stock dividends, share repurchases and capital allocation, marking a significant evolution in how the company manages its balance sheet.
Strategy Is Moving Beyond Buy-And-HoldMichael Saylor, Strategy’s founder and executive chairman, emphasized that the company remains committed to Bitcoin while recognizing that a growing capital structure requires more active management.
“Strategy remains committed to Bitcoin as its primary treasury reserve asset,” Saylor said. “At the same time, Digital Credit requires liquidity, discipline, and active capital management.”
Among the framework’s biggest changes is a Board-approved $2.55 billion U.S. dollar reserve, enough to cover roughly 17.4 months of expected preferred dividends and interest expense. Combined with authorization to monetize up to $1.25 billion of Bitcoin, Strategy says it now has approximately 25.9 months of liquidity coverage for those obligations.
Bitcoin Becomes A Capital Allocation ToolPerhaps the most notable shift is that Strategy is no longer treating Bitcoin solely as a long-term asset to accumulate.
Instead, the company has formally authorized a Bitcoin monetization program that allows it to sell BTC when management believes doing so is preferable to issuing new equity. Proceeds may be used to build reserves, fund preferred dividends, repurchase securities, or strengthen the company’s capital structure.
Importantly, the authorization does not obligate Strategy to sell Bitcoin. Rather, it gives management another lever to optimize capital allocation while maintaining long-term exposure to Bitcoin.
From Capital Raising To Capital ManagementThe announcement also includes separate $1 billion repurchase authorizations for both Strategy’s common stock and its preferred securities, giving management greater flexibility to buy back securities when they believe they are trading below intrinsic value.
Chief Executive Officer Phong Le described the shift succinctly.
“Strategy is evolving from one-way capital issuance to active capital management,” Le said. “We intend to move between issuing securities when capital is attractive and repurchasing securities when our instruments trade at levels that make buybacks accretive.”
For investors, the broader implication extends beyond Bitcoin ownership. Strategy is increasingly positioning itself as an active manager of a Bitcoin-backed capital structure—balancing liquidity, leverage, dividends, buybacks, and digital assets under a single framework.
Whether that ultimately makes Strategy Wall Street’s closest thing to a Bitcoin central bank is debatable. But one thing is becoming clear: the company’s next phase is likely to be as much about capital allocation as about Bitcoin accumulation.
Image via Shutterstock
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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Ademi LLP is investigating Iridium (NASDAQ: IRDM) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Rocket Lab.
Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995. There is no cost or obligation to you.
Iridium shareholders will receive $27.00 in cash and Rocket Lab common stock for each Iridium share, based on a notional value of $54.00 per share in a cash-and-stock transaction valued at approximately $8.0 billion. The stock exchange ratio is subject to a collar banded between $67.50 and $112.50.
Iridium insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Iridium by imposing a significant penalty if Iridium accepts a competing bid. We are investigating the conduct of the Iridium board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Shareholder Alert: Ademi LLP investigates whether Iridium Communications Inc. is obtaining a Fair Price for Public Shareholders PR Newswire
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, /PRNewswire/ -- Ademi LLP is investigating Iridium (NASDAQ: IRDM) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Rocket Lab.
Click here to learn how to join our investigation and obtain additional information or contact us at [email protected] or toll-free: 866-264-3995. There is no cost or obligation to you.
Iridium shareholders will receive $27.00 in cash and Rocket Lab common stock for each Iridium share, based on a notional value of $54.00 per share in a cash-and-stock transaction valued at approximately $8.0 billion. The stock exchange ratio is subject to a collar banded between $67.50 and $112.50.
Iridium insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Iridium by imposing a significant penalty if Iridium accepts a competing bid. We are investigating the conduct of the Iridium board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the sale of Iridium Communications Inc. (NASDAQ: IRDM) to Rocket Lab Corporation for $27.00 in cash and a number of shares of Rocket Lab common stock calculated pursuant to an exchange ratio for each share of Iridium.Halper Sadeh encourages Iridium shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or sadeh@halp.
Rocket Lab USA Inc (NASDAQ:RKLB) announced that it has agreed to acquire Iridium Communications in a cash-and-stock transaction valued at approximately $8 billion in a deal that would combine a leading launch and spacecraft manufacturer with an established global satellite communications operator.
Under the terms of the agreement, Iridium shareholders will receive $27 in cash and a portion of Rocket Lab stock for each Iridium share, subject to a collar mechanism tied to Rocket Lab’s share price. The total consideration implies a value of about $54 per Iridium share.
Following the announcement, Rocket Lab shares surged almost 12% to about $94, while Iridium stock jumped 22% to about $53.
The companies said the combination would unite Rocket Lab’s launch services and satellite manufacturing capabilities with Iridium’s low Earth orbit communications network, global spectrum rights and subscriber base. The merged group would operate as a vertically integrated space company spanning launch, spacecraft production and satellite-based communications services.
Iridium operates a LEO constellation supporting more than 2.5 million subscribers across government, maritime, aviation and commercial markets. The company generated $871.7 million in revenue and $495 million in OEBITDA in 2025, according to the announcement.
Rocket Lab said the acquisition would expand its business beyond launch and manufacturing into recurring satellite services, while improving cash flow and profitability. The company also said the deal would eliminate third-party launch costs for future constellation deployment and give it direct access to spectrum and end-user applications, including IoT, direct-to-device connectivity and positioning, navigation and timing services.
Iridium CEO Matt Desch said the deal would help accelerate development of next-generation satellite communications and other space-based applications,
Rocket Lab founder and CEO Sir Peter Beck said the combined company would be positioned to expand into new markets beyond its existing launch and spacecraft manufacturing business.
Under its financing plan, Rocket Lab has secured a $3.6 billion bridge loan commitment from Deutsche Bank and Wells Fargo and intends to fund the remaining cash portion through a mix of balance sheet resources and additional financing.
The transaction is expected to close in mid-2027, pending regulatory approvals and Iridium shareholder consent.
Diane King Hall discusses this morning's top moving stocks at the opening bell, pointing to Phillip Securities downgrading Salesforce (CRM) and Adobe (ADBE). Arete also downgraded CrowdStrike (CRWD) to neutral from buy with a $730 price target.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about CrowdStrike Holdings (CRWD - Free Report) .
CrowdStrike currently has an average brokerage recommendation (ABR) of 1.65, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 51 brokerage firms. An ABR of 1.65 approximates between Strong Buy and Buy.
Of the 51 recommendations that derive the current ABR, 35 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 68.6% and 5.9% of all recommendations.
Brokerage Recommendation Trends for CRWD
Check price target & stock forecast for CrowdStrike here>>>
While the ABR calls for buying CrowdStrike, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in CRWD?In terms of earnings estimate revisions for CrowdStrike, the Zacks Consensus Estimate for the current year has declined 8.7% over the past month to $4.93.
Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for CrowdStrike. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, it could be wise to take the Buy-equivalent ABR for CrowdStrike with a grain of salt.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Viatris (VTRS - Free Report) Viatris, a global healthcare company, was formed in November 2020 through the merger of the erstwhile Mylan and Pfizer’s Upjohn businesses. The company has operations in over 165 countries. Viatris’ portfolio consists of generics (including complex products), globally recognized iconic brands and an expanding portfolio of innovative drugs.
VTRS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. VTRS has a Momentum Style Score of B, and shares are up 0.4% over the past four weeks.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.05 to $2.49 per share. VTRS boasts an average earnings surprise of +10%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, VTRS should be on investors' short list.
Key Takeaways Lilly reached a new high on Jaypirca EU progress and expanded Medicare access for obesity medicines.AbbVie, JNJ and Biogen gained support from approvals, pipeline advances and acquisition activity.Sector strength was fueled by strong results, regulatory wins, M&A activity and rising investor confidence. On Friday, stocks of four large drugmakers, Eli Lilly (LLY - Free Report) , AbbVie (ABBV - Free Report) , J&J (JNJ - Free Report) and Biogen (BIIB - Free Report) hit fresh 52-week highs. However, the rally in the four stocks was not driven by a single catalyst, but by an overall recent rally in the U.S. drug and biotech sector.
The S&P Healthcare Index (XLV) has gained roughly 9% in the past month. Biotech ETFs have also significantly outperformed the broader market in the past month. SPDR S&P Biotech ETF (XBI) is up 16.4%, while iShares Biotechnology ETF (IBB) has risen 10.6% in the past month against the S&P 500 Index’s decline of 3.4% in the same timeframe.
Strong quarterly results, pipeline and regulatory successes, accelerating M&A activity, and favorable macroeconomic data are the major factors driving growing investor confidence in the drug and biotech sector.
In addition to these, strong company-specific news also contributed to the four stocks hitting new 52-week highs on June 26.
Here is a chart showing the price movement of these four stocks in the past month.
Image Source: Zacks Investment Research
Let’s break it down
Eli LillyThe stock of Eli Lilly hit a new intraday 52-week high of $1,215.76 on June 26, driven by a couple of company-specific news items. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending the approval of Lilly’s drug, Jaypirca (pirtobrutinib), for the treatment of adults with chronic lymphocytic leukemia (CLL) across all lines of therapy, regardless of prior BTK inhibitor treatment. If approved by the European Commission, the recommendation would expand Jaypirca's indication in the European Union beyond its current use, with a final decision expected within one to two months.
Lilly also announced additional details of its Medicare GLP-1 Bridge program, which will allow eligible Medicare Part D beneficiaries to access its newly launched once-daily oral GLP-1 pill, Foundayo (orforglipron) and blockbuster GLP-1 injection, Zepbound (tirzepatide) for obesity beginning July 1, 2026, at a cost of $50 per month with prior authorization. The program, which runs through Dec. 31, 2027, marks the first broad Medicare Part D coverage pathway for GLP-1 obesity medicines for eligible patients meeting CMS clinical criteria.
Lilly’s bullish run does not seem to stop as it is the largest drugmaker valued at more than $1 trillion, with its stock trading above $1,000 per share.
The company has one of the strongest growth profiles in big pharma. Lilly's biggest strength is its dominance in the rapidly expanding obesity and diabetes market. Its blockbuster drugs, Mounjaro for type II diabetes and Zepbound for obesity, have become some of the fastest-growing medicines in pharmaceutical history, gaining from enormous global demand for GLP-1 therapies.
Lilly is also developing several next-generation, more powerful and more convenient GLP-1–based treatments, including oral options and multi-acting candidates.
In early April 2026, Lilly gained FDA approval for Foundayo for treating obesity. Foundayo, which offers the benefits of GLP-1 therapy in a pill form, can prove to be a commercial game-changer for Lilly.
The company is evaluating another next-generation candidate, triple-acting incretin, retatrutide, in type II diabetes and obesity, along with other indications like obstructive sleep apnea, knee osteoarthritis and chronic low back pain, in late-stage studies. Retatrutide represents a new generation of “triple-action” therapy as it targets three biological pathways — GLP-1, GIP and glucagon — whereas existing medicines mostly act on one or two biological pathways. The candidate has demonstrated approximately 28% weight loss in late-stage studies. Lilly plans to seek approval for retatrutide for obesity and knee osteoarthritis pain in 2026. If approved, retatrutide could become another multibillion-dollar product.
Lilly has also embarked on an aggressive M&A spree in 2026, acquiring and partnering with biotech companies across oncology, neuroscience, cardiovascular disease, gene editing and vaccines to diversify its long-term growth drivers beyond GLP-1 therapies. The company has announced more than $20 billion in biotech deals this year.
AbbVieAbbVie stock also hit its current 52-week high of $253.35 on Friday. AbbVie announced on Friday that the FDA has approved its blockbuster drug, Skyrizi, for treating pediatric patients with moderate-to-severe plaque psoriasis. Last week, the European Commission also approved Skyrizi for pediatric use.
AbbVie has been one of the stronger-performing large-cap pharmaceutical stocks in recent months. Its recent advance was driven by strong investor sentiment following its $10.9 billion proposed acquisition of Apogee Therapeutics (APGE - Free Report) , which strengthened its long-term immunology pipeline.
AbbVie has successfully navigated the loss of exclusivity (LOE) of its blockbuster drug, Humira, which once generated more than 50% of its total revenues. It has accomplished this by launching two other successful new immunology medicines, Skyrizi and Rinvoq, which are performing extremely well, bolstered by approvals in new indications, and should support top-line growth in the next few years.
AbbVie is also benefiting from strong momentum outside immunology. The oncology franchise remains anchored by Venclexta and Elahere, while the neuroscience portfolio is also contributing to top-line growth. The company has been on an acquisition spree over the past couple of years to bolster the early-stage pipeline that should drive long-term growth.
ABBV delivered robust net sales growth in 2025, which was just the second full year following the Humira LOE in the United States. AbbVie expects another year of robust growth in 2026. It expects total revenues to rise around 10% in 2026. It expects high single-digit revenue growth through 2029, as the company has no significant LOE events for the rest of this decade.
J&JJ&J stock hit its current 52-week and all-time high of $255.11 on Friday and closed at $255.08. We believe the stock’s move to a 52-week high reflected a combination of strong operational execution, an improving earnings outlook, confidence in its drug pipeline and strategic investments, though the company did announce a small news on Friday.
CHMP recommended approval of an expanded indication for J&J’s oncology drug, Tecvayli, in combination with daratumumab for adults with relapsed or refractory multiple myeloma who have received at least one prior therapy. If approved by the European Commission, the regimen could be used as early as second-line treatment.
J&J’s biggest strength is its diversified business model, as it operates through pharmaceuticals and medical devices divisions.
J&J’s Innovative Medicine unit is showing a growth trend despite the LOE of the blockbuster drug, Stelara. Growth is being driven by J&J’s key drugs like Darzalex, Erleada and Tremfya. New drugs like Carvykti, Tecvayli, Talvey, Rybrevant and Spravato also contributed significantly to growth. The company’s MedTech business has improved in the past four quarters.
The company has also rapidly advanced its pipeline in the past year, attaining significant clinical and regulatory milestones that will help drive growth through the back half of the decade.
J&J expects 2026 to be a year of accelerated growth. The company expects both its Innovative Medicines and MedTech segments to deliver stronger growth this year. The company is confident that it can achieve its target of generating around $100 billion in revenues in 2026. It expects sales to continue to improve in 2027, with a “line of sight” to double-digit growth by the end of the decade. J&J believes that it is already achieving this growth. Though J&J’s total revenues are currently rising in a mid-single-digit range, excluding Stelara, J&J’s top line grew in a double-digit range in the first quarter.
BiogenBiogen stock hit its current 52-week high of $218.06 on Friday. The stock has done well recently due to several positive developments, including the proposed $1 billion acquisition of RayThera, which will expand its immunology pipeline and the FDA’s breakthrough therapy designation to pipeline candidate, salanersen for treating spinal muscular atrophy (SMA).
After several difficult years marked by declining MS revenues, concerns about Alzheimer’s commercialization and pipeline skepticism, investor sentiment has improved due to stronger earnings, a more diversified growth portfolio, major M&A activity and growing confidence in late-stage pipeline assets. It seems investors are gaining confidence that the company’s multiyear turnaround is gaining traction.
Amid declining demand for its key multiple sclerosis drugs like Tecfidera and SMA drug, Spinraza, Biogen believes its new products, Leqembi (partnered with Eisai) for Alzheimer’s disease, Skyclarys for Friedreich’s ataxia and Zurzuvae for depression, have the potential to revive growth.
With competition in the MS market intensifying, Biogen has successfully diversified its pipeline across areas like Alzheimer's, immunology and rare disease. Biogen has strengthened its mid-to-late-stage neurology and immunology pipeline with M&A deals. Among some recent deals, in April 2026, Biogen closed its acquisition of Apellis Pharmaceuticals, adding the commercialized medicines Empaveli and Syfovre for immune-mediated retinal disease and nephrology to its commercial portfolio. Biogen expects the acquisition to boost its near-term growth and help offset the near-term top-line decline of the MS franchise. Also, in May, Biogen acquired exclusive rights to felzartamab in China from TJ Biopharma.
However, its newer drugs, Leqembi, Skyclarys, Qalsody and Zurzuvae are currently insufficient to offset the near-term top-line decline of the MS franchise.
Zacks Rank LLY, ABBV, BIIB and JNJ have a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Root, Inc. (ROOT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ROOT broke through the 50-day moving average, which suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
ROOT could be on the verge of another rally after moving 7% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Looking at ROOT's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ROOT for more gains in the near future.
After reaching an important support level, Root, Inc. (ROOT - Free Report) could be a good stock pick from a technical perspective. ROOT surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
ROOT could be on the verge of another rally after moving 7% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Once investors consider ROOT's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 1 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ROOT for more gains in the near future.
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.
This is a fair market value price provided by Massive. Learn more.
52-Week Range$44.82▼
$78.03Dividend Yield3.72%
P/E Ratio8.54
Price Target$60.50
McCormick & Company’s NYSE: MKC share price is a steal as of mid-2026, down 50% from record highs ahead of a potentially game-changing deal.
The proposed combination with Unilever’s food business could triple the business, generate shareholder value, and provide sufficient cash flow to enable balance sheet quality and capital returns.
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Balance sheet safety is one of the reasons the share price is down so much. The transaction includes a $15.7 billion cash payment to Unilever, with McCormick relying on cash on hand and new debt to fund that portion of the deal. That added debt is a key reason investors are focused on the company’s post-close leverage.
The bad news is that McCormick’s leverage ratio will rise to a higher-than-wanted 4.0x EBITDA, but there is good news to offset the bad.
Already carrying investment-grade debt ratings from all major ratings agencies, McCormick’s executives have expressed a commitment to reducing the debt quickly. Plans are in place to drive it below the targeted 3x level within two years, which would provide a tailwind for shareholder value.
High-Quality McCormick & Company Presents Deep Value in 2026As it stands, McCormick is in a healthy financial position and growing its business. In this environment, the roughly 8x current year earnings are a deep discount to historical norms.
Typically trading in the mid-20x range, valuation metrics suggest a robust valuation expansion is possible over time, compounding the impact of growth. The company is expected to sustain organic growth without the merger, potentially accelerating it in the wake. Estimates as of late-June suggest much lower valuations relative to long-term forecasts, setting the stage for several hundred basis points of stock price gains over the next three to five years.
Analyst trends play into MKC’s price decline as well as the long-term outlook.
While price targets have declined, the low end aligns with the late-June price action, suggesting a floor is in place.
Within that, the consensus Hold rating comes with a 46% Buy-side bias, which, given the 13 analysts covering the stock, provides some conviction in the outlook.
In this scenario, MKC could rebound at any time with the right catalyst and will likely move sideways until one emerges. Upcoming catalysts include milestones tied to the Unilever merger, such as the expected announcement of a European secondary listing location and regulatory approvals in the United States and United Kingdom.
Institutional trends highlight the value and underpin market support as June nears its end. The group owns nearly 80% of the stock and has accumulated shares at a semi-aggressive pace over the trailing 12 months, despite distributing in Q1 2026. The critical detail is that accumulation resumed in Q2 at an aggressive $10-to-$1 pace and will likely remain supportive of price action, given the company’s core strengths and a value-building merger opportunity.
McCormick Outperformance: Organic and Acquisitions Shine ThroughMcCormick & Company had a solid Q2 with growth underpinned by organic strength and the acquisition of McCormick de Mexico. Revenue grew by 16.7%, with 1.7% organic sales growth, driven by a 2.2% increase in average prices. Both segments reported strength, led by a 2.9% organic increase in flavor solutions, with both segments amped by acquisition-related growth.
Margin news is also good. The acquisition is driving significant back-end consolidations and cost savings, leading to improved gross and operating margins. Adjusted gross margin improved by 270 bps, adjusted operating by 180 bps, leaving adjusted earnings per share (EPS) at 80 cents, up 11 cents year-over-year (YOY) and 11 cents or 1600 bps better than expected.
Catalysts and a Risk-Reducing, High-Yielding Dividend McCormick & Company, Incorporated Dividend PaymentsDividend Yield3.72%
Annual Dividend$1.92
Dividend Increase Track Record38 Years
Annualized 5-Year Dividend Growth7.74%
Dividend Payout Ratio31.95%
Upcoming Ex-Dividend DateJul. 6
MKC Dividend History
Guidance is a catalyst for share prices because the company merely reaffirmed it, despite the FQ2 strengths. The market assumes the guidance is cautious and expects the Q2 strength to be sustained in the upcoming release.
McCormick’s dividend is a risk-reducing factor for investors. The ultra-low share price results in an ultra-high yield, approximately 4% with shares around $50, and it is a reliable payment.
The company is a Dividend Achiever with nearly 40 years of consecutive annual distribution increases, and is on track to hit the 50-year mark and be crowned a Dividend King.
McCormick’s position as a consumer staples company gives it some defensive qualities, but the stock still faces risks tied to pricing, volume, consumer trade-down behavior, and merger execution. Consumer headwinds have shoppers trading down on center-of-plate costs in favor of flavors. Cheap cuts and starches work well with bold, zesty, and spicy flavors, and McCormick is a leading source. Execution risk is the bigger headwind, as delays could be reflected in the stock's price. The worst-case scenario is that the merger is completed, but synergies fail to yield the desired results.
Should You Invest $1,000 in McCormick & Company, Incorporated Right Now?Before you consider McCormick & Company, Incorporated, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McCormick & Company, Incorporated wasn't on the list.
While McCormick & Company, Incorporated currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
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The latest quarterly [url="]U.S. Bank Freight Payment Index â Rates Edition[/url] showed truck freight rates rising considerably in April and May. This pres
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Roper Technologies (ROP - Free Report) Based in Sarasota, FL, Roper Technologies, Inc. designs, manufactures and distributes software and technology enabled products and solutions. It caters to selected segments of a broad range of markets, which include legal, healthcare, government, food, transportation, oil & gas, medical, and other niche industries.
ROP is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Computer and Technology stock. ROP has a Momentum Style Score of A, and shares are up 3.9% over the past four weeks.
For fiscal 2026, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $21.95 per share. ROP boasts an average earnings surprise of +1.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, ROP should be on investors' short list.
LOS ANGELES, June 29, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Lucid Group, Inc. (“Lucid” or “the Company”) (NASDAQ: LCID) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between February 25, 2026 and April 13, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before July 28, 2026.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Lucid’s deliveries were disrupted by a supplier quality issue. The Company suffered a material impact on its business results due to this quality issue. The Company overstated the strength of manufacturing capabilities. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Lucid, investors suffered damages.
Join the case to recover your losses
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335 [email protected]
New York, New York--(Newsfile Corp. - June 29, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Lucid Group, Inc. (NASDAQ: LCID) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Lucid securities between February 25, 2026 and April 13, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/LCID.
Lucid Case Details
The Complaint alleges that throughout the Class Period, Defendants failed to disclose that:
a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; the foregoing was likely to, and did, have a material negative impact on the Company's business and financial results; accordingly, the defendants had overstated the purported enhancements to Lucid's manufacturing and delivery capabilities and overall operations; and as a result, defendants' public statements were materially false and misleading at all relevant times.What's Next for Lucid Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/LCID, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Lucid you have until July 28, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Lucid Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Lucid Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
Follow us for updates on LinkedIn, X, Facebook, or Instagram.
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Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299665
Source: Bronstein, Gewirtz & Grossman, LLC
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
ATLANTA, June 29, 2026 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against ZoomInfo Technologies, Inc. (“ZoomInfo”) (NASDAQ: GTM). The lawsuit alleges that Defendants made false and misleading statements and/or failed to disclose material adverse facts, including allegations that: ZoomInfo’s optimistic plan for continued growth was undermined by slowing seat-based demand, weakening upsells and customers revising decisions to purchase AI products and develop internal AI-driven go-to-market solutions, making ZoomInfo’s 2026 full year revenue guidance increasingly unlikely to be met.
If you purchased ZoomInfo shares between November 3, 2025 and May 11, 2026, and experienced a loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at [email protected], by toll-free telephone at (888) 508-6832, or by visiting the firm’s website at www.holzerlaw.com/case/zoominfo-technologies/ for more information.
The deadline to ask the court to be appointed lead plaintiff in the case is August 24, 2026.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, 2023, and 2025, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
A downtrend has been apparent in KE Holdings Inc. Sponsored ADR (BEKE - Free Report) lately with too much selling pressure. The stock has declined 14.1% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Why BEKE Could Bounce Back Before LongThe heavy selling of BEKE shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.8. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.
This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering BEKE in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 4.4% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, BEKE currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
New York, New York--(Newsfile Corp. - June 29, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Zoetis Inc. (NYSE: ZTS) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Zoetis securities between January 14, 2025 and May 6, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/ZTS.
Zoetis Case Details
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements concerning the growth, competitive positioning, market share, and veterinarian adoption of key products within the Companion Animal segment while failing to disclose that:
veterinarian prescription growth and adoption of Zoetis' Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; Zoetis' Simparica Trio was losing significant market share to a lower-priced competing canine parasiticide with broader indicated use in a slowing overall market; and Zoetis' dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment.What's Next for Zoetis Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/ZTS, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Zoetis you have until July 27, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Zoetis Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Zoetis Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
Follow us for updates on LinkedIn, X, Facebook, or Instagram.
Attorney advertising.
Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299397
Source: Bronstein, Gewirtz & Grossman, LLC
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
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.
Shares of Micron Technology (NASDAQ:MU | MU Price Prediction) are down 5% in early trading Monday, while SanDisk (NASDAQ:SNDK) shares have slid 7%. Western Digital (NASDAQ:WDC) stock, by contrast, is climbing 6%.
The split is striking because these three names traded as one theme for much of the past year. Micron stock is up 265% year to date (YTD), and SanDisk shares have rallied 713% YTD. Meanwhile, Western Digital stock is up 251% YTD.
There’s no single confirmed headline driving the divergence today. Instead, the action looks like a structural rotation between two businesses that no longer fit in the same bucket.
Memory Names Cool After Parabolic Runs Micron and SanDisk are the NAND/DRAM memory names in this trio. Western Digital is essentially a pure hard-disk-drive (HDD) company after spinning off and divesting its remaining stake in SanDisk. That separation, completed in February 2025, means factors pressuring memory pricing hit Micron and SanDisk but largely spare Western Digital’s drive business.
Profit-taking is the simplest read. Micron just reported a blowout fiscal Q3 2026 on June 24, with revenue of $41.46 billion (a 18% beat) and guided fiscal Q4 2026 revenue to $50 billion. The reaction has been a textbook sell-the-news move in extended stocks.
Analysts have also flagged a softening of the scarcity premium baked into memory names. Concerns include potential new capacity from international competitor SK Hynix, a possible NASDAQ listing for that competitor, and broader worries that AI-chip valuations may have peaked. On Reddit, SanDisk sentiment swung from very bullish (score 86 on June 24) to very bearish (score 18 on June 26), with explicit put-buying activity flagged in WallStreetBets.
Community chatter also points to month-end institutional rebalancing as a contributing factor. That framing reflects sentiment rather than confirmed flow data, but it lines up with the depth of the pullback in two of the year’s most extended winners (Micron and SanDisk).
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Why Western Digital Is Catching the Bid Western Digital reported fiscal Q3 2026 results on April 30, posting revenue of $3.34 billion, up 46% year over year (YoY), with non-GAAP gross margin crossing 50% for the first time. CEO Irving Tan stated, “Virtually every AI workload, from training, inference, agentic AI to physical AI, creates data that is stored persistently and cost-efficiently on HDDs.”
As an HDD-focused name, Western Digital is insulated from NAND pricing fears and the scarcity-premium worry. Capital leaving the hottest memory names can rotate into a storage play that still trades at a comparatively cheaper multiple. Western Digital has also pointed to hyperscaler contracts running through 2028 and longer-term targets of 50%-plus gross margin and $20-plus earnings per share, supporting a separate bull case.
Sentiment on r/stockmarket for Western Digital reached 72 (bullish) on June 28, the most recent data point available before today’s session. That’s the kind of tone that tends to support rotation flows rather than fight them.
What to Watch This looks like a rotation story rather than a fundamental break in the thesis. The memory super-cycle still has bullish supporters. Morgan Stanley re-affirmed an overweight rating on Micron and SanDisk shares, and Bank of America’s Wamsi Mohan sees further upside in SanDisk stock despite the surge.
However, the bear case is real, with stretched valuations and supply-glut concerns that could keep volatility elevated. Investors can watch for whether Micron stock and SanDisk stock hold key technical levels into the close, and whether fresh analyst notes following Micron’s June 24 results reinforce or temper the sell-the-news read. It makes sense to limit one’s position sizes given the volatility on display in all three names.
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BlackRock and Ethena Labs have deepened their partnership through a new initiative that will provide institutional investors on BlackRock’s Aladdin platform with expanded access to Ethena’s products and enhanced liquidity for the BUIDL tokenized Treasury fund, according to a Monday statement.
The agreement includes a $100 million liquidity facility provided by Ethena through Securitize, enabling eligible BUIDL holders to seamlessly convert BUIDL into USDC, USDtb and other supported stablecoins, with the ability to reverse those transactions outside regular market hours.
The companies said the collaboration is intended to expand digital dollar infrastructure and support the wider institutional use of tokenized real-world assets. BlackRock said the facility enhances the utility of tokenized Treasury funds, while Ethena said it simplifies institutional access to onchain financial markets.
The partnership extends the firms’ prior collaboration involving USDtb, Ethena’s stablecoin backed primarily by BUIDL. BUIDL debuted in 2024 and has grown to roughly $3 billion in total value locked according to DefiLlama, making it one of the largest tokenized US Treasury funds.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Updated Jun 29, 2026, 2:47 p.m. Published Jun 29, 2026, 2:02 p.m.
2 min read
BlackRock logo on a building (Anthony Quintano/CC by 2.0)Summary
BlackRock, the world's largest asset manager, will integrate crypto protocol Ethena's yield-generating token USDe into its risk management platform Aladdin and create $100 million liquidity facility for tokenized money market fund BUIDL.ENA was up 8% over the past 24 hours following the announcement.The deal follows Ethena's recent partnerships with Coinbase, Janus Henderson and Securitize.Ethena said its yield-generating "synthetic dollar" token will be integrated into BlackRock's (BLK) Aladdin risk management platform as the crypto protocol is deepening its relationship with traditional finance firms.
The Monday announcement sent Ethena's governance token ENA (ENA) up about 8% on the day as investors welcomed another high-profile institutional partnership.
Aladdin is BlackRock's portfolio construction and risk management platform used by banks, insurers, pension funds and asset managers overseeing more than $20 trillion in combined assets.
Ethena also said BlackRock's tokenized money market fund, BUIDL, will serve as the primary reserve asset for a forthcoming white-label product.
The firms also unveiled a $100 million liquidity facility that will allow eligible holders of BlackRock's tokenized Treasury fund, BUIDL, to exchange their holdings for USDC, USDtb and other supported stablecoins outside traditional market hours, and convert those assets back into BUIDL.
"We believe stablecoins and tokenized real-world assets to be inextricably linked," Robert Mitchnick, BlackRock's head of digital assets, said in a statement. "This liquidity facility enables a level of frictionless interoperability that is core to the unique utility that tokenizing treasury funds makes possible."
The announcement is the latest in a series of partnerships between global asset managers and decentralized finance protocols.
Earlier this year, BlackRock expanded its tokenized money market fund through a partnership with Uniswap and also invested an undisclosed amount in the decentralized exchange's UNI token. Private markets giant Apollo Global Management (APO) struck a deal with lending protocol Morpho to bring tokenized private credit assets onchain.
Ethena has been increasingly focused on expanding to institutions as well. Asset manager Janus Henderson, which oversees roughly $480 billion, recently made a strategic investment in ENA and planned to use USDe for treasury management while exploring ways to distribute the token through exchange-traded products. Ethena also announced plans to allocate $250 million to Securitize's tokenized AAA-rated collateralized loan obligation fund, deepening its exposure to tokenized credit markets.
Earlier this month, Coinbase Ventures disclosed its first investment in Ethena and unveiled plans to bring Ethena products to Coinbase's user base. Ethena also expanded its relationship with Anchorage Digital to support institutional lending through Anchorage's collateral management platform.
"The next phase of digital asset adoption will be driven by infrastructure that allows traditional institutions to interact with onchain financial products through familiar systems and workflows," Ethena founder Guy Young said in a statement.
UPDATE (June 29, 14:20 UTC): Adds further detail and comments from Ethena and BlackRock executives.
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The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
5 hours ago
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
@Ethena has confirmed a significant partnership with @BlackRock, integrating the $USDe synthetic dollar stablecoin directly into the Aladdin risk management and portfolio platform. The move marks one of the most high-profile institutional endorsements yet for a DeFi-native stablecoin.
What the Aladdin Integration Means $USDe will be listed on BlackRock Aladdin as an approved digital asset. Aladdin is BlackRock's investment management platform used by institutional investors to track portfolios and analyze and manage risk. The platform serves a broad client base spanning asset managers, pension funds, insurers, and banks, with the assets it oversees running well into the tens of trillions of dollars.
The companies said the move is intended to expand institutional adoption of digital-dollar infrastructure and improve interoperability between digital dollars and tokenized financial assets.
For Ethena, the listing on Aladdin is a meaningful step in its push toward regulated, institutional-grade distribution. As of March 2026, $USDe's circulating supply stood at approximately $5.92 billion, making it the third-largest stablecoin by market cap, behind USDT and USDC.
BUIDL as Primary Reserve and the Liquidity Facility The partnership also deepens the existing financial ties between the two firms. Ethena will provide a $100 million liquidity facility through tokenization platform Securitize to boost liquidity for $BUIDL, BlackRock's tokenized Treasury fund.
Under this structure, eligible BUIDL clients will be able to exchange BUIDL tokens for supported stablecoins including USDC and USDtb, and convert them back outside regular market hours, providing frictionless interoperability.
The partnership also establishes $BUIDL as the primary reserve asset for Ethena's upcoming whitelabel infrastructure. This builds on an existing relationship: BlackRock's BUIDL, launched in partnership with Securitize, is the largest tokenized fund of its kind, traded across blockchains including Ethereum, Arbitrum, Avalanche, and Polygon.
Together, these developments signal a broader convergence between decentralized stablecoin infrastructure and traditional institutional asset management, with Ethena positioning $USDe as a credible building block for the next generation of digital finance.
The world’s largest asset manager, BlackRock, is integrating Ethena’s USDe into its Aladdin investment platform, a move that would boost liquidity on the platform. The ENA price has climbed on the back of this development, bucking the crypto market’s downtrend.
BlackRock Expands Partnership With Ethena With USDe Integration In an X post, Ethena announced its latest collaboration with BlackRock, involving the integration of USDe into the asset manager’s Aladdin platform. The crypto project noted that the integration provides unique institutional access for the over $20 trillion of assets managed by financial institutions on Aladdin.
As part of the collaboration, BlackRock’s BUIDL will serve as the primary asset for the crypto project’s whitelabel product. It is worth noting that both firms already have an existing partnership with the USDtb stablecoin, primarily backed by BUIDL.
Meanwhile, Ethena will support a liquidity facility on BlackRock’s tokenized products. This latest partnership with BlackRock continues a streak of recent deals that the crypto project has struck involving the USDe stablecoin.
As CoinGape reported earlier this month, Ethena signed two major investment deals for the stablecoin. The company selected Centrifuge as its tokenization partner while it partnered with global asset manager Janus Henderson. Janus Henderson is investing in Ethena’s governance token, ENA, as part of the partnership.
ENA Price Climbs Following Announcement The ENA price surged to as high as $0.0854 following the announcement of Ethena’s latest collaboration with BlackRock. The governance token is still up 4%, trading at around $0.0805, according to TradingView data.
Source: TradingView; ENA daily chart The Ethena token is up despite the current downtrend in the crypto market, with the Bitcoin price trading below $60,000. The latest partnership with BlackRock is bullish for ENA as the crypto project features a fee-switch mechanism, in which a portion of revenue generated is used to buy back the token.
The founder of ENA Treasury Company, StablecoinX, Ted Chen, highlighted how massive the USDe integration into Aladdin is. He noted that insurers, pension funds, and asset managers, including financial giants like Deutsche Bank and Citi, use the platform.
“That’s over $20 trillion in assets that these managers have on the Aladdin platform. Now, all of these managers will have the ability to not only allocate to USDe, but also seamlessly integrate it into their existing portfolio management and risk analytics processes,” he added.
Key HighlightsEthena’s USDe Gains Institutional Platform AccessBUIDL and USDtb Receive Enhanced Liquidity InfrastructureAladdin Platform Extends Reach Into Digital Asset Markets BlackRock’s Aladdin platform extends integration with Ethena’s tokenized dollar ecosystem
USDe synthetic dollar product receives institutional access through Aladdin infrastructure
Securitize and Ethena establish $100 million liquidity mechanism for BUIDL token holders
Qualified BUIDL investors gain ability to convert tokens into stablecoins after trading hours
Enhanced partnership solidifies Aladdin’s position in digital Treasury and dollar product markets
On Monday, BlackRock and Ethena Labs announced an expanded collaboration that brings deeper Aladdin platform integration for tokenized dollar offerings. This strategic arrangement connects conventional portfolio management infrastructure with blockchain-based dollar solutions while simultaneously enhancing BUIDL token liquidity. The development creates more accessible pathways for institutional participants seeking exposure to tokenized funds, stablecoins, and synthetic dollar instruments.
Ethena’s USDe Gains Institutional Platform Access Ethena Labs revealed that its USDe offering will integrate with BlackRock’s Aladdin infrastructure for institutional deployment. USDe operates as a synthetic dollar instrument designed to generate returns through cryptocurrency market mechanisms. Consequently, Aladdin platform users will obtain direct visibility into Ethena’s blockchain-based dollar solution.
This connectivity advances Ethena’s expansion into mainstream financial distribution channels and compliant institutional operations. The integration positions USDe within reach of banking institutions, investment management firms, insurance companies, and pension fund systems. Aladdin functions as a critical connector between established finance infrastructure and Ethena’s digital dollar framework.
Unlike USDC and USDT, USDe employs a different architecture that moves beyond traditional fiat-backed reserve structures. Ethena engineers the token using cryptocurrency collateral positions combined with yield-generating strategies. The Aladdin integration provides the product with a recognizable entry point for institutional capital allocators.
BUIDL and USDtb Receive Enhanced Liquidity Infrastructure As part of the broadened agreement, Ethena will facilitate a $100 million liquidity mechanism in partnership with Securitize. Securitize operates as the tokenization infrastructure provider and transfer agent for BlackRock’s BUIDL fund. This arrangement provides qualified BUIDL token holders with expanded options for transitioning between tokenized fund positions and stablecoin holdings.
The liquidity facility enables authorized participants to convert BUIDL tokens into USDC, USDtb, and additional approved stablecoins. The mechanism also permits reverse conversions from stablecoins back into BUIDL positions during off-market hours. Aladdin platform users receive improved operational flexibility when managing tokenized treasury instruments.
BlackRock and Ethena previously collaborated through the USDtb initiative prior to this enhanced partnership. USDtb is issued through Anchorage Digital Bank, with BUIDL serving as the primary underlying asset. With Aladdin now positioned at the center of this broader ecosystem, BlackRock reinforces its tokenized dollar product infrastructure.
Aladdin Platform Extends Reach Into Digital Asset Markets Aladdin serves as BlackRock’s core platform for investment construction, execution, and risk oversight. Leading financial institutions deploy Aladdin to monitor holdings and evaluate portfolio exposures across asset classes. The Ethena integration introduces an additional digital asset dimension to this established institutional framework.
BUIDL debuted on the Ethereum network in 2024 and rapidly emerged as a significant tokenized Treasury vehicle. Tokenized government securities now represent a substantial portion of the blockchain-based real-world asset sector. Aladdin connectivity may facilitate broader adoption of tokenized sovereign debt instruments.
This agreement also signals an evolving relationship between traditional asset management firms and decentralized finance infrastructure. BlackRock has previously extended BUIDL availability through additional digital asset collaborations. Simultaneously, Ethena has deepened its institutional strategy through partnerships with Anchorage, Coinbase Ventures, Janus Henderson, and Securitize.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Ethena’s governance token ENA has climbed after BlackRock integrated the project’s synthetic dollar USDe into its Aladdin investment platform, extending institutional access to a system used to oversee more than $20 trillion in assets.
Summary
BlackRock has integrated Ethena’s USDe into its Aladdin platform, expanding institutional access to the synthetic dollar. ENA rose as much as 12% following the announcement, outperforming the broader crypto market despite Bitcoin trading below $60,000. StablecoinX founder Ted Chen said the integration opens USDe to institutions managing more than $20 trillion through Aladdin. According to a June 29 X announcement from Ethena, the integration enables financial institutions using BlackRock’s Aladdin platform to access USDe through their existing investment and risk management workflows.
Excited to announce our collaboration with @Blackrock.
→Integration of USDe into BlackRock's Aladdin platform
→BUIDL as the primary asset for our whitelabel product
→Liquidity facility on BlackRock tokenized products
The integration of USDe on Aladdin provides unique… pic.twitter.com/onP6o8hIpp
— Ethena (@ethena) June 29, 2026 The company said the collaboration gives institutions connected to Aladdin a new route to allocate capital to the synthetic dollar while managing positions within the same platform.
BlackRock has expanded its relationship with Ethena Alongside the USDe integration, Ethena confirmed that BlackRock’s tokenized money market fund BUIDL will become the primary reserve asset for its white-label product. The companies already work together through USDtb, Ethena’s stablecoin backed mainly by BUIDL, making the latest announcement an expansion of an existing relationship rather than a new partnership.
Ethena also said it will provide a liquidity facility for BlackRock’s tokenized products. The company did not disclose financial terms or a launch timeline but described the arrangement as another step in connecting tokenized assets with institutional infrastructure.
The announcement follows several deals involving Ethena’s stablecoin business this month. Earlier, the company selected Centrifuge as its tokenization partner and entered an agreement with global asset manager Janus Henderson. As part of that collaboration, Janus Henderson committed to invest in ENA, Ethena’s governance token.
Another recent milestone came after StablecoinX completed its merger with TLGY Acquisition Corp., allowing the Ethena-focused infrastructure company to begin trading on Nasdaq under the ticker USDE.
The company said its public warrants started trading under the symbol USDEW on June 26 following the completion of the business combination a day earlier. The listing provides public-market investors with direct exposure to StablecoinX’s Ethena-focused strategy even as demand for USDe remains below last year’s peak.
ENA has outperformed the broader crypto market As per data from crypto.news, Ethena (ENA) price rose 12% to $0.083 shortly after the BlackRock announcement before easing to around $0.081, leaving the token about 7% higher on the day. The gain came while the wider cryptocurrency market remained under pressure, with Bitcoin trading below $60,000.
Ethena price chart — June 29 | Source: crypto.news Part of the positive reaction may be linked to Ethena’s fee-switch mechanism. Under the project’s design, a share of protocol revenue is allocated toward buying back ENA, meaning increased activity around USDe could benefit the governance token over time.
Commenting on the announcement, StablecoinX founder Ted Chen said the Aladdin integration significantly increases USDe’s institutional reach because insurers, pension funds and major asset managers already rely on the platform. He noted that organizations including Deutsche Bank and Citi use Aladdin to oversee portfolios.
“That’s over $20 trillion in assets that these managers have on the Aladdin platform. Now, all of these managers will have the ability to not only allocate to USDe, but also seamlessly integrate it into their existing portfolio management and risk analytics processes.”
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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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.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of ZS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Stock to Watch: ConocoPhillips (COP - Free Report) Headquartered in Houston, TX, ConocoPhillips is primarily involved in the exploration and production of oil and natural gas. Considering proved reserves and production, the company is among the largest explorers and producers in the world. The company, founded in 1875, has a strong presence across conventional and unconventional plays in 13 countries. ConocoPhillips’ low-risk and cost-effective operations are spread across North America, Asia, Australia and Europe.
COP is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 10.56; value investors should take notice.
For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.19 to $10.03 per share. COP boasts an average earnings surprise of +5.8%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, COP should be on investors' short list.
For years, investors have compared Rocket Lab with Space Exploration Technologies Corp. (NASDAQ:SPCX) largely through the lens of rockets. That comparison may now be outdated.
By adding a profitable satellite communications business with recurring service revenue, Rocket Lab is beginning to resemble the broader business model that has helped make SpaceX one of the world’s most valuable private companies.
Rocket Lab Is Building A Space EcosystemThe acquisition gives Rocket Lab far more than another business line.
Iridium operates one of the world’s largest low-Earth orbit satellite communications networks, serving government agencies, aviation, maritime and commercial customers through long-term service contracts.
That recurring revenue stands in contrast to Rocket Lab’s traditional launch business, where revenue is tied to individual missions.
The combination creates a more diversified company spanning launch services, satellite manufacturing, spacecraft components and now satellite communications—bringing Rocket Lab closer to the vertically integrated model that has defined SpaceX’s growth.
SpaceX Showed Launches Aren’t EnoughAlthough SpaceX is widely known for Falcon 9 launches and Starship development, much of its strategic value comes from businesses beyond rockets.
Starlink has become one of the world’s fastest-growing satellite internet providers, generating recurring subscription revenue while complementing SpaceX’s launch operations. The company also designs and manufactures satellites and spacecraft, creating multiple revenue streams rather than relying solely on launch contracts.
Rocket Lab’s acquisition of Iridium follows a similar strategic playbook.
Instead of remaining primarily a launch provider, the company is adding a communications platform that could provide more predictable cash flows while deepening relationships with commercial and government customers.
Why Investors May CareRecurring revenue businesses have historically commanded higher valuation multiples than companies dependent on project-based revenue.
Launch demand can fluctuate from quarter to quarter, while communications services typically generate more stable, subscription-like cash flows that improve earnings visibility.
The acquisition also positions Rocket Lab to capture a larger share of the growing space economy, where customers increasingly seek integrated providers capable of building satellites, launching them into orbit and operating the communications infrastructure that follows.
Rocket Lab still trails SpaceX in scale, launch cadence and satellite deployment. But with Iridium, the company has taken a meaningful step toward becoming something much larger than a rocket manufacturer.
For investors, the transaction may ultimately be remembered less as Rocket Lab’s biggest acquisition—and more as the moment it began transforming into a full-fledged space infrastructure company.
Photo: 3Dsculptor / Shutterstock
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Rocket star Rocket Lab (RKLB +11.44%) is making headlines again this morning, after completing yet another satellite launch for Synspective over the weekend. (They also delayed a launch for iQPS, citing unfavorable wind conditions.)
This morning, though, the news doesn't concern stage separations -- but corporate mergers, and it's sending Rocket Lab stock flying 9.6% through 10 a.m. ET.
Nov. 25, 2024, close-up view of engines firing at an Electron rocket launch from LC-1 in New Zealand. Image source: Rocket Lab.
Rocket Lab buys Iridium Communications Rocket Lab announced this morning that it will acquire Iridium Communications (IRDM +22.29%) in a deal valued at $8 billion. Iridium, one of the original "satellite phone" companies, now focusing on Internet of Things (IoT), aviation, maritime, and Position, Navigation, and Timing (PNT) services, will trade all its outstanding stock to Rocket Lab for $54 a stub, paid $27 in cash and the rest in stock.
The companies call this "one of the most transformative deals in the space industry," marrying Rocket Lab's rocket fleet to Iridium's satellite constellation -- and thus giving Rocket Lab a captive customer similar to SpaceX's (SPCX +2.71%) Starlink at the same time as it gives Iridium an in-house launch capability -- also similar to Starlink!
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What's next for Rocket Lab stock Not long ago, I had a conversation with Rocket Lab CEO Peter Beck. We discussed the commoditization of space launch, the higher profit margins available from providing in-space services like SpaceX Starlink -- and I asked what kind of business Beck might choose to become "Rocket Lab's Starlink?"
At the time, Beck was still mulling the idea. Now it seems he's made his decision, and it's to buy Iridium and take on SpaceX's Starlink business -- at least tangentially in the IoT realm -- and potentially attack it where it's a bit weaker in aviation, maritime, and especially PNT.
It's an exciting time to be a space investor.
Rich Smith has positions in Rocket Lab. The Motley Fool has positions in and recommends Rocket Lab. The Motley Fool has a disclosure policy.
Image Credits:Rocket Lab Launch company Rocket Lab is buying satellite operator Iridium, putting it in a position to become a more full-fledged space services company, and continuing a wave of consolidation in the industry.
The deal, which hasn’t yet closed, will see Rocket Lab acquire Iridium’s stock for $54 per share, valuing the satellite company at $8 billion.
This is one of several acquisitions for Rocket Lab this year. The company previously bought space robotics company Motiv in May, acquired laser communications provider Mynaric in April, and purchased a precision component manufacturer in February. It also bought optical sensor defense contractor Geost last year.
Iridium not only operates dozens of satellites currently in orbit, but it also owns a bundle of valuable spectrum. Rocket Lab said in a press release Monday that it plans to “build upon” Iridium’s existing network in order to “scale into untapped markets and pioneer new space-based services to the benefit of global customers.”
Rocket Lab’s announcement comes after years of consolidation among space and satellite companies, including ViaSat acquiring Inmarsat and a private equity firm buying Maxar in 2023, and Lockheed Martin purchasing satellite manufacturer Terran Orbital in 2024. In April 2026, Amazon — which is building a space-based internet competitor to SpaceX’s Starlink — bought satellite company Globalstar for $11.6 billion.
SAN DIEGO, June 29, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating the proposed acquisition of Iridium Communications Inc. (NASDAQ: IRDM) by Rocket Lab Corporation (NASDAQ: RKLB) to determine whether the proposed transaction is fair to Iridium shareholders.
Under the terms of the proposed transaction, Iridium shareholders will receive $27.00 in cash and a number of shares of Rocket Lab common stock calculated pursuant to an exchange ratio, subject to a collar, for each share of Iridium common stock they own. The transaction has a notional value of $54.00 per Iridium share.
Iridium Shareholders: Contact Johnson Fistel
If you are an Iridium shareholder and wish to discuss your legal rights, you are encouraged to click here to join the investigation.
For more information, contact James Baker at [email protected] or (619) 814-4471.
Johnson Fistel is investigating whether the proposed merger adequately compensates Iridium shareholders or whether the transaction undervalues the company and primarily benefits Rocket Lab or other interested parties.
Among the issues being examined are:
Whether the merger consideration fully reflects Iridium’s long-term strategic value, including its unique global satellite communications network, licensed spectrum assets, and recurring subscription-based revenue.Whether Iridium shareholders are being asked to accept a substantial stock component, exposing them to Rocket Lab’s future execution, market, and integration risks.Whether the Board of Directors conducted a robust and competitive sales process designed to maximize shareholder value.Whether all material information necessary for shareholders to make an informed voting decision will be disclosed in the proxy materials.Whether conflicts of interest influenced the negotiation or approval of the proposed transaction. If you are a shareholder of Iridium Communications and wish to discuss your legal rights, you may contact Johnson Fistel to learn more about the investigation.
About Johnson Fistel, PLLP | Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder litigation involving securities fraud, breaches of fiduciary duties, and other violations of state and federal law.
Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.
Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.
Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations – or – Frank J. Johnson, Esq.
(619) 814-4471 [email protected] | [email protected]
Rocket Lab USA (RKLB) has seen a significant increase in its stock price following the announcement of its agreement to acquire Iridium (IRDM) for $54 per shar
