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Carnival NYSE: CCL just reported its second fiscal quarter, and it’s clear from the numbers that the company is sailing in the right direction. But warning signs of rough waters ahead spooked investors.

Carnival Today

$28.26 -0.65 (-2.24%)

As of 03:29 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$23.45▼

$34.03Dividend Yield2.12%

P/E Ratio12.73

Price Target$35.13

Based on the latest figures, Carnival continues to execute one of the stronger post-pandemic recoveries in travel. For the three months ended May 31, Carnival posted record levels of revenue, adjusted net income, net yields, and customer deposits. Even with geopolitical tensions and significantly higher fuel costs, the company’s net income rose more than 20%.

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But the company’s forward guidance did little to calm nerves, and that overshadowed an otherwise positive quarterly performance. The stock slid sharply after earnings were announced and closed the day down roughly 5%.

Most analysts still like the stock, but investors should recognize that with real strengths come risks.

Strong Quarterly Results Beat ExpectationsCarnival’s second-quarter results were convincing. Net income came in at $537 million, 5% lower than a year earlier, though adjusted net income, which strips out one-time items, reached $569 million, up more than 21% year-over-year. Overall, revenue of $6.66 billion represented a 5.3% increase over the same period a year ago.

Adjusted EBITDA for the quarter was a record $1.58 billion, up from $1.5 billion a year earlier. Diluted earnings per share (EPS) were 39 cents, and adjusted EPS rose more than 15% to 41 cents, up from 35 cents in the prior-year period and above analysts’ expectations.

The company also said it repurchased more than $450 million of company stock and, with a dividend yield of 2%, distributed $207 million in dividends in the latest quarter.

Healthy Margins Despite Higher Fuel CostsWhile the headline figures were impressive, the unit economics were also encouraging. Net yields in constant currency rose 2.2% for the quarter. Continued price discipline showed up as well, as adjusted daily cruise costs per bed, excluding fuel, held essentially flat year-over-year.

Predictably, fuel was the most visible cost challenge during the quarter. Carnival noted that the increase in earnings per share came despite fuel prices and currency movements, which lowered per share earnings by 6 cents, equal to an overall hit of $73 million for the quarter.

Given 30% higher fuel costs, gross margin yields were down 3.9%. But with adjusted earnings still hitting records, the operating model appears to be holding.

An additional bright spot was a 5.6% improvement in fuel consumption per available lower berth day, suggesting that operational efficiency was at least partially offsetting price pressures.

Debt Reduction Continues to Strengthen the Balance SheetThe latest numbers also showed Carnival’s recovery continuing after more than three years in the making. When the global cruise industry shut down during the pandemic, Carnival took on enormous debt to survive, suspended its dividend, and watched its stock collapse from the low $50s to nearly $7 in the space of a few months.

Its recovery has been methodical and convincing. As of May 31, long-term debt had dropped to $23.4 billion, continuing a steady decline from $32 billion near the end of 2022. The company’s net interest expense improved in the latest quarter to $285 million from $341 million a year earlier.

Strong Demand Faces External RisksThe rest of the year looks strong for the company, though concerns remain.

On the plus side, customer deposits, or the amount consumers have paid to book a cruise months in advance, hit a record $9 billion by the end of the quarter, up more than $450 million compared with the prior year record. In all, Carnival has booked 93% of its capacity and expects record net yields for the rest of the year, the company’s CEO said.

That positive outlook, however, is paired with cautionary forward concerns. The ongoing tensions in the Middle East have significantly cut into Carnival’s operations in the Mediterranean Sea, and concerns linger about demand and net yields going forward.

While earnings for the second quarter came in above analysts’ expectations, revenue missed fractionally from what analysts projected. Further instability in high-tourist areas could continue to cut into passenger bookings.

Further, energy costs remain a significant variable that can shift results quickly. And weather disruptions, macroeconomic slowdowns, or a shift in consumer spending priorities could each push a slowdown that’s not easy to offset. The consumer discretionary sector is always subject to volatility, and competitors, such as Royal Caribbean NYSE: RCL and Norwegian Cruise Line NYSE: NCLH, are stepping up their offerings.

Wall Street Remains OptimisticCarnival Stock Forecast Today12-Month Stock Price Forecast:
$35.13
22.27% Upside

Moderate Buy
Based on 26 Analyst Ratings

Current Price$28.73High Forecast$45.00Average Forecast$35.13Low Forecast$28.70Carnival Stock Forecast Details

Overall, though, Wall Street analysts like what they see. Of the 26 analysts covering the stock, the consensus rating is a Moderate Buy with a 12-month average target price of $35.13 per share, up more than 20% from current levels.

Finally recovering from its collapse five years ago, shares are up roughly 12% over the past three months. That upside got even more attractive after the pullback that occurred after Carnival reported second-quarter earnings—a reaction similar to what occurred after its first-quarter report.

In all, 21 analysts recommend Buy, while five have the stock as a Hold. The highest price target is $45, while the lowest is $28.70 per share.

Carnival Appeals Most to Aggressive InvestorsFor investors, the choices seem clear. Carnival Corporation has just delivered its best-ever quarter by several key measures, and the record customer deposit balance suggests demand is not fading.

Aggressive investors who are willing to accept cyclicality and balance-sheet risk could likely find the stock interesting. For those who believe in the durability of consumer travel demand, Carnival offers a combination of strong fundamentals, forward momentum, and a meaningful upside.

Conservative investors seeking above a 2% dividend yield, more predictable results, and greater balance-sheet strength might prefer other options.

Should You Invest $1,000 in Carnival Right Now?Before you consider Carnival, you'll want to hear this.

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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.

Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.

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Lockheed Martin (LMT +2.85%) stock jumped 2.8% through 1:15 p.m. ET Thursday on no obvious good news.

No obvious good news today, that is to say. But if you scroll back just a couple of days through the defense contract announcements posted by the U.S. Department of Defense on its website, I think you'll quickly find the reason why investors are so keen on LockMart stock today.

Image source: Getty Images.

An $8.2 billion contract -- and Lockheed stock falls On Tuesday, DOD announced an $8.2 billion contract will go to Lockheed Martin to increase the number of Precision Strike Missiles (PrSMs) it can produce per year, and also the number of PrSMs the Army buys from Lockheed Martin.

Granted, the contract is spread over six years, ending in 2032, making the annual revenue increase only about $1.4 billion. Still, it seems strange that this news sent Lockheed Martin's stock down 2.4% yesterday!

A $35.3 billion contract, and Lockheed stock barely budges Speaking of yesterday, yesterday's headline was Lockheed winning a $35.3 billion Missile Defense Command contract to produce Terminal High Altitude Area Defense (THAAD) Interceptor missiles -- used to shoot down exoatmospheric ballistic missiles -- also through 2032. Priced near $12.7 million per unit (about three times the cost of a Patriot missile), this contract envisions Lockheed producing an astounding 2,800 THAAD interceptors.

And over the next six years, it will add nearly $5.9 billion to Lockheed's annual revenue haul.

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What it means for Lockheed stock So two days of contracts just grew Lockheed's annual revenue haul by about $7.3 billion. Even on the defense giant's already sizable $75.1 billion revenue stream, that's close to a 10% increase. And Lockheed stock is only back to flat because of it?

Sounds like a buying opportunity to me.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.

Key Takeaways BXP leased about 320,000 square feet at Reservoir Place to Boston Dynamics under a long-term agreement.Boston Dynamics will consolidate manufacturing, R&D, training and AI operations. Reservoir Place is part of BXP's Urban Edge portfolio across more than 5M sq. ft. and serves a mix of tenants. BXP, Inc. (BXP - Free Report) signed a long-term lease agreement with Boston Dynamics for approximately 320,000 square feet at Reservoir Place, a 530,000 square foot building located at 1601 Trapelo Road in Waltham, MA. The transaction represents one of the largest innovation-focused office leasing transactions in Greater Boston this year.

Boston Dynamics, a global leader in mobile robotics, plans to transform the leased space into a premier center for robotics and AI innovation. The company intends to consolidate manufacturing, research and development, training and artificial intelligence functions that are currently distributed across multiple locations into the new facility. Boston Dynamics expects to relocate to Reservoir Place in phases beginning in mid-2027.

Reservoir Place was selected for its scale, flexibility and connectivity to support Boston Dynamics' long-term growth while enabling the company to maintain its strong presence in Massachusetts. The project is the result of a collaborative effort among Boston Dynamics, the City of Waltham and the Commonwealth of Massachusetts to retain and expand one of the state's most prominent innovation companies.

BXP has owned and operated Reservoir Place since 1998. The property is part of BXP's Urban Edge portfolio, a mixed-use destination spanning more than 5 million square feet across Waltham, Weston and Lexington. BXP’s Urban Edge portfolio is home to a diverse mix of technology, life sciences and professional services companies, offering premium workplaces alongside housing, retail and dining options, hotels, fitness and wellness amenities, and extensive open spaces.

The lease further reinforces Reservoir Place's position as a leading destination for technology and innovation companies in Massachusetts. It also underscores the continued demand for high-quality office space that supports collaboration, attracts top talent and accommodates long-term growth strategies.

ConclusionBXP is expected to benefit from stable, long-term rental income at Reservoir Place through this landmark lease with Boston Dynamics. The addition of a globally recognized mobile robotics leader strengthens BXP's tenant roster, increases occupancy at a key asset and reinforces the appeal of its high-quality office properties to innovation-focused tenants.

In the past three months, shares of this Zacks Rank #3 (Hold) company have gained 20.7% compared with the industry's 11.5% growth.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Prologis (PLD - Free Report) , each carrying a Zacks Rank of #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CUZ’s 2026 FFO per share is pegged at $2.94, which indicates year-over-year growth of 3.52%.

The Zacks Consensus Estimate for PLD’s full-year FFO per share is pinned at $6.18, which calls for an increase of 6.37% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

Strategy’s preferred shares are trading well below their $100 par value, and the company just spent $1.38 billion in cash to buy back its own debt instead of buying more Bitcoin. For a firm whose entire identity revolves around accumulating as much Bitcoin as humanly possible, that’s a notable pivot.

The STRC preferred shares have slid to roughly 14% below par, pushing yields up to around 11.5%. Meanwhile, Bitcoin short interest has jumped 9%, adding external pressure to a company that has effectively turned itself into a leveraged Bitcoin proxy.

The debt buyback that raised eyebrows In May 2026, Strategy repurchased $1.5 billion in face value of its 0% convertible senior notes due in 2029. The price tag: approximately $1.38 billion in cash, a discount that looks smart on paper but raises uncomfortable questions about what the company is prioritizing.

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Strategy didn’t use that $1.38 billion to buy more Bitcoin. It used it to reduce its debt load. The company currently holds between 843,738 and 846,842 BTC, acquired at an average cost of roughly $76,000 per coin. That puts the total acquisition cost basis at approximately $63.88 billion, making Strategy the largest corporate holder of Bitcoin on the planet by a wide margin.

The $1.5 billion dividend problem Strategy’s annual preferred dividend obligation sits at roughly $1.5 billion. The company’s older convertible notes carried 0% coupons, meaning they cost nothing to service until maturity or conversion. The newer preferred share structure is a fundamentally different animal. An 11.5% yield on preferred shares trading below par tells you the market is pricing in meaningful risk that those dividends might become difficult to sustain.

The suspension of new Bitcoin acquisitions is particularly telling. Strategy built its entire brand on relentless accumulation, and stepping off that treadmill, even briefly, changes the narrative.

Rising short interest adds pressure Bitcoin short interest climbing 9% during this period isn’t coincidental. Nearly 850,000 BTC represents a meaningful percentage of Bitcoin’s liquid supply, and even the perception that forced selling might occur can move markets.

Strategy’s financial health depends on Bitcoin’s price. Bitcoin’s price is partially supported by the market’s confidence that Strategy won’t sell. The broader “digital credit” market is also feeling the chill — when STRC trades 14% below par, it sends a message to every issuer considering similar structures that the market’s risk appetite has limits.

What this means for investors The key metric to watch is whether Strategy resumes Bitcoin purchases or continues prioritizing debt reduction. The spread between STRC’s trading price and its par value is another real-time indicator of market confidence.

Strategy’s decision to repurchase its 0% notes at a discount — buying back debt at 92 cents on the dollar — is rational treasury management, but it also means the market was willing to sell that debt at a loss. The 9% increase in Bitcoin short interest is worth monitoring as a sentiment gauge, as shorts continuing to build while Strategy’s bonds trade below par could create a volatile environment where any negative catalyst gets amplified.

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

A newly unveiled climate finance proposal in the United Kingdom has placed the XRP Ledger (XRPL) at the core of a bold model designed to mobilize private capital for renewable energy projects. The plan marks a significant leap toward adopting blockchain infrastructure in institutional finance, catching the attention of both environmental and crypto market circles.

XRPL emerges as preferred blockchain in UK Parliament proposalDrafted by Dr. Chris Cormack and presented to the UK Parliament’s Environmental Audit Committee, the proposal puts forward a finance structure known as Climate Contingent Convertible Notes—or CloCos for short. This model aims to direct private sector funding into clean energy infrastructure with minimal reliance on direct public subsidies.

A standout feature of the proposal is the explicit mention of XRPL as the ideal blockchain to power a potential pilot project involving regulated financial institutions and institutional investors. The XRPL network would serve as a transparent, immutable record-keeping system for every phase of the investment process, from issuance to monitoring, and from triggering events to the deployment of capital.

The proposal states that XRPL has the capacity to meticulously record ownership rights, project performance milestones, investor entitlements, settlement instructions, and the allocation of funds to renewable energy projects, all in an auditable and transparent manner.

Mini glossary: XRPL is an open-source blockchain network associated with the Ripple ecosystem. With its low transaction fees and rapid settlement, XRPL stands out as a record-keeping infrastructure for payments, asset tokenization, and institutional finance applications.

Four-step model targets verified records through XRPLThe proposed funding mechanism unfolds in four steps: issuance, monitoring, triggering, and distribution. XRPL is positioned to offer verifiable tracking for ownership records and project milestones, while also enabling real-time validation of investor rights, payment instructions, and fund deployment to underlying projects.

According to the proposal, this approach would deliver higher levels of transparency and accountability for regulators, issuers, and investors alike. Tokenized ownership and instant verification could raise reporting standards, reduce administrative burdens, and boost investor confidence in the sector.

StageObjectiveXRPL’s functionIssuanceCreation of investment vehicleRecording ownership and entitlementsMonitoringTracking project performanceVerification of milestonesTriggerRecording specific developmentsTransparent documentation of eventsDistributionAllocating capital to projectsProof of fund movementXRPL’s institutional use cases widenThis recommendation signals a shift in blockchain’s role—from a purely technical tool to a practical solution for administering complex financial assets. Key attributes like XRPL’s low-cost settlement, transparent ledger, and real-time verification capabilities have propelled it into the spotlight for institutional applications.

The report also highlights XRPL’s growing presence beyond cross-border payments, noting its visibility in fields like asset tokenization, lending, and institutional finance. Ripple’s Chief Technology Officer, David Schwartz, has also recently named tokenized loans, securities, and repurchase agreements as major avenues for platform growth.

If the proposal moves into a pilot phase, the CloCos model could become one of the most prominent demonstrations of integrating blockchain into climate finance.

Should a pilot program get underway, this framework could further cement XRPL’s evolution from a payment-focused network into a platform capable of supporting large-scale investment securities, tokenized assets, and institutional-grade financial markets.

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

XRP (CRYPTO: XRP) is approaching the psychologically important $1 support as pro-XRP lawyer Bill Morgan argues Ripple is releasing tokens from escrow too slowly.

Why Morgan Wants Ripple To Speed Up Escrow ReleasesRipple locked 55 billion XRP into escrow back in 2017 to give the market predictable visibility into future supply. 

One billion XRP unlocks on the first of every month, and Ripple decides how much to deploy versus re-lock into new escrow contracts at the back of the queue. 

After the June 1 unlock, roughly 61.85 billion XRP sits in circulation against 38.15 billion still locked, a pace some estimates suggest could take nearly nine years to fully distribute.

“Ripple should release more of the 1 billion each month and not lock so much back in escrow,” Morgan wrote on X. 

“The sooner it is all released from escrow and the circulating supply is 100%, the quicker XRP will become the best hard money.” 

His argument centers on supply transparency, not burning tokens, which Ripple has explicitly rejected. He believes a fully circulating supply removes the pricing uncertainty that scheduled future releases create.

Ripple’s own position has historically favored the opposite approach, framing escrow predictability as a feature that institutional partners specifically value since it lets counterparties model future supply without surprises.

XRP Failed The Same Support Zone TwiceXRP on Thursday wicked below $1.01 before bouncing slightly, breaking decisively through the demand zone between $1.08 and $1.11 that had capped both the June 5 lows and a mid-June test.

Failing that zone for a second time marks a serious structural breakdown rather than a routine dip.

Price is trading well outside the lower Bollinger Band at $1.0487, confirming an extreme, stretched move, while the SAR remains deep overhead at $1.2790. 

The descending trendline from May’s $1.55 peak continues to reject every recovery attempt.

XRP sits down 52.64% over the past 12 months, with the November 2025 death cross still fully intact across the 20-day, 50-day, and 200-day moving averages.

Reclaiming the $1.08 to $1.11 zone restarts a recovery attempt toward $1.1398. Losing the $1.00 psychological level opens air toward $0.90, then $0.80.

Image: Shutterstock

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The XRP Ledger ($XRPL) has flipped Ethereum as the primary host for $RLUSD supply for the first time since the stablecoin launched. On-chain data cited by @BSCNews shows $801M in $RLUSD sitting on the XRP Ledger, compared to $795M on Ethereum, marking a narrow but historically significant shift in how Ripple's flagship regulated stablecoin is distributed across networks.

A Long Road to the Top The turnaround has been dramatic. By October 2025, approximately 88% of all RLUSD supply sat on Ethereum, with just $91 million on the XRP Ledger. The gap closed steadily from there. Q1 2026 was the first quarter in which RLUSD grew by more on the XRPL (plus $105.4 million) than on Ethereum (plus $15.2 million), signalling that the momentum had genuinely shifted. By June 2026, XRPL stablecoin supply reached $762M, largely driven by RLUSD, before the latest on-chain figures pushed it past the Ethereum figure for the first time.

The initial Ethereum dominance was driven largely by that network's deeper DeFi ecosystem. Ripple added RLUSD to Aave in 2025, helping boost adoption among Ethereum users, while platforms such as Curve and Morpho also supported RLUSD, giving the stablecoin more visibility and utility. Those integrations kept a large portion of supply anchored on Ethereum for most of the stablecoin's early life.

What Is Driving XRPL's Gain RLUSD's strategic advantage on the XRPL is its integration across Ripple's financial products, which provide immediate access for regulated institutional enterprise use in payments, treasury management, prime brokerage, and custody. This allows RLUSD supply to grow from real institutional demand rather than just exchange liquidity. The majority of RLUSD holders are also on the XRPL, with 46,209 on the network compared to 7,821 on Ethereum at Q1 2026 close.

The broader XRPL ecosystem has also been expanding rapidly. The XRPL closed Q1 2026 with an all-time high real-world asset (RWA) market cap of $2.25 billion, up 124% quarter-over-quarter, making it the seventh largest network by RWA market cap. A key institutional proof point came in May 2026 with a tokenized US Treasury redemption pilot involving Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple, completing a cross-border transaction in 4.2 seconds.

RLUSD is natively issued on both the XRP Ledger and Ethereum blockchains and is fully backed by a segregated reserve of cash and cash equivalents, redeemable 1:1 for US dollars. The stablecoin is regulated under a New York Department of Financial Services trust charter, a compliance posture that has helped attract institutional counterparties to both chains. Whether XRPL can hold and extend this lead over Ethereum's entrenched DeFi liquidity base remains to be seen, but the milestone itself marks a meaningful shift in how Ripple's native infrastructure is being used.

Sources:
Messari: State of XRP Q1 2026
Ripple: RLUSD Stablecoin Official Page
Yahoo Finance: XRPL Ripple Stablecoin Supply Surges to $762M

Charles Hoskinson reassures the ADA community following the security incident involving SecondFi, emphasizing that the breach did not compromise the Cardano blockchain itself.

His comments came as concerns spread throughout the Cardano ecosystem after reports revealed that attackers exploited vulnerabilities connected to SecondFi wallets, resulting in significant losses for affected users.

Hoskinson: Cardano Core Infrastructure Remains Secure According to Hoskinson, there is no evidence that the incident affected any component of Cardano’s underlying technology stack. He stressed that the network’s protocol, cryptographic foundations, node infrastructure, and open-source wallet implementations continue to function as intended. 

Consequently, he classified the incident as an application-level security failure rather than a failure of the blockchain itself. His commentary sought to calm fears that the breach could threaten ordinary ADA holders who do not use SecondFi. 

Update https://t.co/23F2M0YrUp

— Charles Hoskinson (@IOHK_Charles) June 24, 2026

“Cardano Was Not Hacked” Further, he rejected claims that the blockchain itself was compromised, stressing that “Cardano was not hacked.” According to him, describing the incident as a “Cardano hack” creates the false impression that the blockchain’s core infrastructure failed.

Interestingly, he compared the situation to a vulnerable third-party application running on an operating system. Using an analogy involving Microsoft and its Windows platform, Hoskinson argued that users do not blame Windows whenever an external application contains bugs or security flaws.

Similarly, he maintained that vulnerabilities in an individual wallet or financial application should not be interpreted as weaknesses in Cardano’s protocol. He also reiterated that users’ funds across the broader Cardano ecosystem remain secure.

SecondFi Confirms Attack Originated at Address and Signing Layer Hoskinson’s reassurance followed reports of a large-scale exploit suffered by SecondFi (formerly Yoroi Wallet), a neo-finance application owned by EMURGO, one of Cardano’s founding entities.

Following the incident, SecondFi disclosed that the breach occurred at the address and transaction-signing level, allowing malicious actors to initiate unauthorized transactions.

According to the company, four separate wallet-draining incidents occurred earlier this week. Three of those attacks were linked to external threat actors and resulted in the theft of approximately 16 million ADA from 374 wallets.

Meanwhile, the company revealed that it secured an additional 129 million ADA by transferring the assets to a third-party custodian as an emergency precaution.

SecondFi Deploys Patch and Begins Recovery Process In response to the incident, SecondFi announced that it has already deployed a security patch and engaged an external auditor to verify customer holdings. The company also confirmed that it is developing a claims process for affected users to facilitate compensation and recovery efforts.

Notably, SecondFi warned users not to restore their recovery phrases into other wallets. It added that doing so could disrupt or complicate the claims process for affected funds.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Key Takeaways BF.B is benefiting from strong growth in emerging markets and Travel Retail, led by Jack Daniel's and New Mix.BF.B's innovation pipeline, including Tennessee Blackberry and New Mix, continues to support portfolio.BF.B expects flat organic sales and a 3%-5% decline in organic operating income in fiscal 2027. Brown-Forman Corporation (BF.B - Free Report) enters fiscal 2027 with a cautious setup. Premium spirits, emerging-market demand and innovation continue to support the portfolio, while weak developed-market consumption limits the recovery.

Brown-Forman’s fiscal 2026 net sales declined 1% on a reported basis to $3.9 billion and were flat organically. Fourth-quarter net sales rose 2% to $912 million and increased 2% organically, but earnings per share fell 62% year over year to 12 cents.

The geographic split explains the flat outlook. Emerging markets increased 14% on a reported basis and 12% organically in fiscal 2026, driven by the Jack Daniel’s family of brands in Türkiye, the United Arab Emirates and Brazil, along with double-digit growth for New Mix in Mexico. Travel Retail net sales rose 6% on a reported basis and 5% organically, helped by higher volumes of Jack Daniel’s Tennessee Whiskey. These gains show demand resilience. New Mix is benefiting from consumer interest in flavor, convenience and value in Mexico, while Brazil is supporting the Jack Daniel’s portfolio through broader distribution and revenue-growth management.

Image Source: Zacks Investment Research

Developed markets remain weak. In the United States, reported net sales declined 7% in fiscal 2026 and were flat organically. The decline reflected the end of the Korbel relationship, the absence of the Sonoma-Cutrer prior-year transition services agreement, lower volumes of Jack Daniel’s Tennessee Whiskey and unfavorable portfolio mix.

Developed International net sales were flat on a reported basis but declined 3% organically. The shortfall was tied to the absence of American-made beverage alcohol from retail shelves in most Canadian provinces, plus declines in Germany and the United Kingdom. Canada declined nearly 60% in fiscal 2026, and management continues to assume American spirits will remain off shelves across most of Canada in fiscal 2027.

Innovation is helping, but it does not remove earnings risk. Jack Daniel’s Tennessee Blackberry reached almost 300,000 nine-liter depletions in the United States by fiscal year-end and almost 150,000 nine-liter depletions across six European launch markets. New Mix net sales increased 41% on a reported basis and 33% organically, reflecting share gains in Mexico and its launch in the United States.

The premiumization strategy also remains relevant. Whiskey products’ net sales increased 3% on a reported basis and 1% organically in fiscal 2026, supported by Jack Daniel’s Tennessee Blackberry, favorable foreign exchange and Woodford Reserve growth in the United States. Diageo plc (DEO - Free Report) is a relevant peer for investors watching premium spirits demand, as global beverage-alcohol portfolios face similar shifts in consumer spending. Constellation Brands, Inc. (STZ - Free Report) , a beer, wine and spirits company, offers another comparison point for investors assessing category balance.

Still, fiscal 2027 points to limited near-term upside. Brown-Forman expects organic net sales to be approximately flat and organic operating income to decline 3-5%. The operating-income outlook reflects higher input costs, product-mix pressure from faster ready-to-drink growth and the cost cycle tied to barreled whiskey inventory. Used-barrel sales also remain a drag after non-branded and bulk net sales declined 68% in fiscal 2026.

Financial flexibility provides a counterweight. Brown-Forman generated $1 billion in cash flows from operations in fiscal 2026, up from $598 million in the prior year. Free cash flow increased $462 million to $893 million, and the company returned $827 million to stockholders through regular dividends and share repurchases.

The bottom line is that BF.B’s flat sales outlook looks defensible, but not especially dynamic. Emerging markets, Travel Retail, innovation and premium brands are helping stabilize the business, while developed-market demand, Canada disruption, used-barrel weakness and cost inflation keep earnings visibility constrained.

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

It has a VGM Score of C, Value Score of C, Growth Score of C and Momentum Score of B. The Rank points to a neutral near-term earnings-revision profile, while the Style Scores suggest mixed factor support, with momentum stronger than value or growth.

For investors, that combination supports a watchful stance rather than a forceful bullish view. BF.B has durable brand equity and stronger cash flow, but fiscal 2027 still depends on whether emerging-market momentum and innovation can offset macro strain in developed markets.

Draftkings Inc (NASDAQ:DKNG) shares have been volatile over the past month as investors continue to weigh the potential impact of prediction markets on the company’s growth outlook, according to Bank of America.

The analysts wrote that DraftKings shares have swung between an intraday low of $23.50 and a high of $30 since May, before easing back to around $25, or roughly 17% below recent highs. Shares were down another 4% at about $23.50 on Thursday.

They wrote that the move reflects a growing debate among investors around prediction market volumes, core sports betting trends, and valuation, particularly ahead of major sporting events.

The bank wrote that it has broken down the current “bull-bear” debate across prediction markets, DraftKings’ core business, and earnings outlook, while also raising its long-term prediction market total addressable market (TAM) estimate to $1.9 trillion in annual volume, up from a prior $1.3 trillion. Despite the higher TAM assumption, the firm made no changes to its earnings estimates and maintained a Neutral rating on the stock.

On prediction markets, Bank of America wrote that volumes have been accelerating, with DraftKings reporting annualized activity of about $3 billion in May, and projections suggesting that could rise to roughly $9 billion in June.

The analysts wrote that DraftKings’ market share has increased from around 1.3% in April to over 2% on certain days in June, and could potentially reach 5% to 10% by 2027 if product and marketing initiatives continue to scale. Under that scenario, the firm wrote that prediction markets could generate $500 million to $1 billion in revenue by 2027, with high incremental margins, though market-making activity could introduce additional upside volatility.

However, Bank of America also wrote that higher volumes may come with increased customer acquisition and promotional costs. The analysts estimate potential losses of $300 million to $550 million this year, above DraftKings’ current guidance of $200 million to $300 million.

They wrote that aggressive promotional activity, including offers such as “trade $5 get $200,” alongside lower fee economics and evolving market structure, could pressure near-term profitability until market-making scales further.

On the core business, Bank of America wrote that DraftKings continues to gain share in sports betting, supported by ongoing product improvements and marketing efficiency, with sports net gaming revenue now approaching parity with FanDuel.

At the same time, the analysts wrote that concerns remain around potential cannibalization from prediction markets, structural hold volatility following recent unfavorable sports outcomes, and softness in iGaming trends. They noted that iGaming has seen roughly 400 basis points of market share loss over the past 18 months, while gross gaming revenue growth slowed to low-single digits in the second quarter.

Round-the-Clock Access to Tokenized U.S. Equities@OndoFinance has activated what it describes as the industry's first 24/7 minting and redemption cycle for tokenized U.S. stocks and ETFs, a move that formally severs the dependency of real-world asset (RWA) products on traditional market hours.

Investors can now execute primary issuance and liquidations for $SPYon, $QQQon, $NVDAon, and $TSLAon during overnight sessions, weekends, and public holidays, periods when NYSE and Nasdaq are closed. The update eliminates the reliance on legacy banking schedules, allowing tokenized shares to be created or redeemed in real time regardless of exchange downtime.

Each tokenized asset is an ERC-20 token backed 1:1 by the underlying security, held by U.S. broker-dealers along with cash in transit. The tokens are total-return trackers that mirror the economic performance of their underlying assets, including price movements, dividends, and corporate actions.

Multi-Chain Rollout and Growing Platform ScaleThe 24/7 architecture is currently live on @Ethereum and @BNBChain, with a @Solana deployment scheduled for the near term. Ondo had already expanded to Solana earlier this year: Ondo Global Markets, the world's largest tokenized stock and ETF platform by total value locked, became available on Solana with more than 200 tokenized U.S. stocks and ETFs, including NVDA, AAPL, META, and ETFs such as SPY and QQQ.

Ondo Global Markets has surpassed $1 billion in tokenized stock TVL less than eight months after launch, becoming the first tokenized stocks platform to cross that mark. The platform now offers more than 260 tokenized U.S. stocks and ETFs across Solana, Ethereum, and BNB Chain, with access through wallets, exchanges, custodians, and protocols including Binance, Bitget, MetaMask, and Blockchain.com.

Ondo said Global Markets holds more than 70% market share among tokenized equity issuers and has secured regulatory approval to offer tokenized stocks and ETFs across 30 EU and EEA countries.

The broader significance of the 24/7 minting update is structural. By enabling round-the-clock mint and redeem operations, Ondo aims to make equities and ETFs composable components within the DeFi ecosystem, substantially expanding the asset universe and extending trading hours for on-chain finance. This also removes the T+1 settlement delay that traditional stock trading requires and enables transferring equity exposure between wallets as easily as sending stablecoins.

Sources
Ondo Global Markets tops $1B in TVL, Crypto Briefing
Ondo Global Markets launches on Solana, Solana.com
Deep Dive of Ondo Finance, TokenInsight

Aave governance is weighing a proposal to bring savings GHO, or sGHO, across chains, a move that could make the protocol’s yield-bearing stablecoin product easier to access beyond Ethereum mainnet.

TL;DR Aave governance is considering an ARFC proposal to launch sGHO cross-chain. The proposal uses Chainlink CCIP while keeping Ethereum mainnet as the main source of truth. The move could expand access to GHO savings yields across Layer-2 networks. A Cross-Chain Stablecoin Push The proposal would extend sGHO, the savings version of Aave’s GHO stablecoin, to additional networks. The idea is to let users access yield-bearing GHO exposure from Layer-2 environments without fragmenting the core accounting model. According to the proposal, Chainlink’s Cross-Chain Interoperability Protocol would be used to support messaging between chains.

That structure matters because stablecoin liquidity can become messy when each chain develops its own version of an asset. Aave’s approach appears designed to expand access while keeping the main vault logic anchored to Ethereum. In theory, that gives users lower-cost access on L2s while preserving a clearer system for tracking deposits and yield.

Why sGHO Matters For Aave GHO has become an important strategic product for Aave because it gives the lending protocol a native stablecoin around which it can build revenue, incentives, and liquidity. sGHO adds another layer by giving users a savings-style version of that stablecoin, turning idle stablecoin exposure into a yield-bearing position.

Cross-chain deployment could help GHO compete with other stablecoins and yield products that already have broad multi-chain footprints. For Aave, the goal is not just to issue a stablecoin; it is to create a deeper ecosystem where borrowing, lending, liquidity, and savings products reinforce each other.

Governance Still Has To Decide As with any Aave governance process, the proposal still needs community scrutiny. Tokenholders will need to assess bridge risk, CCIP assumptions, liquidity incentives, operational complexity, and whether the rollout creates enough user demand to justify the added architecture.

If approved, the move would fit a wider DeFi trend: major protocols are trying to make their core products available across multiple networks while avoiding the liquidity fragmentation that hurt earlier cross-chain expansions.

Market Context The proposal also arrives as DeFi protocols are searching for more durable revenue lines. A successful GHO and sGHO ecosystem could give Aave a native stablecoin flywheel, where borrowers, savers, and liquidity providers all interact around the same asset rather than relying only on third-party stablecoins.

Execution risk remains real, though. Cross-chain systems introduce dependencies that users may not notice until something breaks, which is why governance will likely focus heavily on bridge assumptions, risk limits, and how quickly the rollout should expand.

That leaves the story as more than a single-day headline. The practical test is whether the development changes user access, liquidity, regulatory confidence, or trader positioning over the next few sessions rather than simply adding another announcement to the crypto news cycle.

This coverage is based on information from Aave governance forum.

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

MiCA is the European Union’s first comprehensive rulebook for crypto, and on July 1, 2026, its transition period ends for good. This guide explains what MiCA does, why USDT got delisted while USDC did not, and what the hard deadline means for exchanges and users.

Summary

MiCA becomes fully enforceable across the European Union on July 1, 2026, after which crypto firms without a MiCA license can no longer legally serve EU users. The regulation introduced a single framework for crypto across all EU member states, with strict rules for stablecoins, exchanges, and other crypto service providers. MiCA compliance kept USDC listed on regulated European exchanges, while USDT was delisted after its issuer chose not to seek authorization. Table of Contents

What MiCA actually regulatesThe stablecoin rules and why USDT got delistedCASPs: the rules for exchanges and service providersThe July 2026 deadline and the great narrowingA worked example: what a token and an exchange each faceWhat MiCA leaves unsettledMiCA in the global pictureWhat it means for everyday usersFrequently Asked Questions MiCA, short for Markets in Crypto-Assets, is the European Union’s first comprehensive law governing crypto-assets and the companies that deal in them, creating one common rulebook across all twenty-seven member states in place of the patchwork of national approaches that came before. Formally known as Regulation (EU) 2023/1114, it entered into force in mid-2023 and has rolled out in phases ever since, and it now sits at a decisive moment: on July 1, 2026, the transition period that let existing crypto firms keep operating under old national rules expires for good, and Europe’s market supervisor has been blunt that there will be no extensions. 

After that date, any company offering crypto services to European Union clients without a proper MiCA license is simply breaking the law. This guide explains what MiCA is, the categories it creates, why some stablecoins survived in Europe while others were delisted, what a crypto company must do to comply, and what the hard 2026 deadline means for exchanges and ordinary users alike.

The significance of MiCA is hard to overstate, because the European Union is one of the largest economic blocs on earth and MiCA is the most ambitious attempt yet to bring crypto fully inside a traditional financial-regulation framework. Before MiCA, a crypto exchange or token issuer operating in Europe faced a confusing mix of national rules, with one regime in Germany, another in France, another in Malta, and gaps everywhere in between. 

MiCA replaces that fragmentation with a single, harmonized system: get authorized once, and you can passport your services across the entire bloc. The trade-off is that the bar to get authorized is high, the obligations are heavy, and the deadline to clear them is now days away rather than years off. The result is a market being reshaped in real time, with a small number of licensed winners, a large number of firms facing exit, and a stablecoin landscape that already looks very different inside Europe than outside it.

What MiCA actually regulates MiCA divides the crypto world into categories and applies different rules to each, so the first step in understanding it is learning what those categories are. At the top level, MiCA governs two kinds of actors: the issuers of crypto-assets and the providers of crypto-asset services. For issuers, MiCA sorts tokens into three buckets.

The first is electronic money tokens, or EMTs, which are stablecoins pegged to a single official currency, such as a euro-pegged or dollar-pegged coin. The second is asset-referenced tokens, or ARTs, which are stablecoins backed by a basket of things, multiple currencies, commodities, or other assets, rather than a single currency. The third is a catch-all category of other crypto-assets, which covers utility tokens, governance tokens, and unbacked cryptocurrencies like Bitcoin and Ether, the assets most exchanges handle every day.

Each bucket carries different obligations. The two stablecoin categories face the strictest treatment, because regulators view stablecoins as the part of crypto most capable of threatening the wider financial system, a concern sharpened by the 2022 collapse of the TerraUSD algorithmic stablecoin that wiped out tens of billions of dollars. EMT and ART issuers must hold proper reserves, grant holders redemption rights, and meet governance and disclosure standards. 

The other crypto-assets face lighter rules, mainly requirements to publish an honest whitepaper before offering a token to the public and to avoid market abuse. Notably, MiCA largely excludes non-fungible tokens, unless they are issued in a large fungible series that makes them function more like ordinary tokens, and it excludes assets already covered by existing financial law, such as securities. The category a token falls into determines almost everything about how MiCA treats it, which is why getting the classification right is the starting point for any issuer.

The stablecoin rules and why USDT got delisted The most visible effect of MiCA so far has been on stablecoins, and the clearest way to understand the rules is through what happened to the two largest dollar stablecoins. Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized, which for a single-currency stablecoin means holding an e-money or credit institution license and meeting MiCA’s reserve, redemption, and governance requirements. 

The reserve rules are strict: an EMT must back its tokens fully, holding one hundred percent of reserves in safe, segregated accounts, while an ART must keep at least a substantial portion segregated at regulated credit institutions. MiCA also bars stablecoin issuers from paying interest or yield to holders, a deliberate choice to stop stablecoins from competing with bank deposits and drawing money out of the banking system.

This is where the two giants diverged. Circle, the issuer of USDC, pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, making them compliant and freely offered across European Union exchanges. Tether, the issuer of USDT, the largest stablecoin in the world, did not apply for MiCA authorization and confirmed its token was not compliant. The consequence was swift: major European Union-regulated exchanges, including the regional arms of the largest global platforms, delisted USDT and other non-compliant stablecoins for their European users. 

The nuance worth understanding is that USDT is not banned from existence in Europe; users can still hold it in self-custody and trade it on decentralized exchanges. What changed is that a MiCA-licensed exchange can no longer offer it, which fragments liquidity and pushes European users toward compliant alternatives like USDC. Every stablecoin authorized under MiCA so far has been an EMT, a single-currency token, and USDC’s compliance versus USDT’s non-compliance has become the textbook illustration of the rules in action.

CASPs: the rules for exchanges and service providers Beyond token issuers, MiCA’s other major target is the companies that provide crypto services, which the regulation calls crypto-asset service providers, or CASPs. This category is broad: it covers exchanges, brokers, custodians, wallet providers that hold customer assets, trading platforms, and firms that advise on or place crypto-assets. 

If your business touches customer crypto in almost any commercial way, you likely need a CASP authorization to keep serving European Union clients. The obligations that come with that authorization are extensive and closely mirror those imposed on traditional financial firms, which is the entire point: MiCA aims to make crypto service providers behave like regulated financial institutions rather than lightly governed startups.

A CASP must meet requirements covering customer identity verification and anti-money-laundering controls, the safekeeping and segregation of customer assets, governance and capital standards, market-conduct rules that prohibit insider trading and market manipulation, and clear disclosure of risks to customers. Authorized CASPs also become subject to the European Union’s operational-resilience framework, which mandates cybersecurity and incident-reporting standards, and to the crypto travel rule, which requires them to pass along sender and recipient information on transfers, the same obligation that has applied to bank wires for decades. 

The reward for shouldering all of this is passporting: once a firm is authorized in any one member state, it can offer its services across all twenty-seven without seeking separate licenses in each, turning a fragmented continent into a single market. The burden is that running these programs at scale, across a global customer base, is expensive and demanding, which is exactly why so many firms are struggling to clear the bar before the deadline.

The July 2026 deadline and the great narrowing Everything about MiCA now points toward a single date, and understanding the phased rollout explains why that date matters so much. MiCA did not arrive all at once. The stablecoin rules for EMTs and ARTs took effect in mid-2024. The full CASP authorization regime took effect at the end of 2024, the point from which firms needed a MiCA license to operate. 

But MiCA included a grandfathering provision, a transition period that let firms already operating legally under their national rules continue doing so while they applied for full MiCA authorization. Member states set their own transition windows within the limits MiCA allowed, ranging from short windows ending in 2025 to the full eighteen-month period ending on July 1, 2026. That final date is the bloc-wide cutoff, the moment the transition ends everywhere at once.

What makes the deadline dramatic is how few firms have actually cleared the bar. As the cutoff approached in 2026, roughly a couple of hundred firms held some form of full MiCA authorization across the entire union, but the number cleared to run an actual crypto trading platform was strikingly small, in the low double digits, with a number of member states having issued zero trading-platform licenses at all. Industry executives openly warned that a large majority of exchanges currently operating may fail to secure a license and be forced to exit the European market, and reports emerged of major global exchanges facing rejection in specific countries. 

Europe’s market supervisor reinforced the message with no room for ambiguity: no member state may extend the transition beyond July 1, 2026, and after that date, operating without authorization is a breach of European Union law, not a paperwork gap. The picture, then, is of a great narrowing, a market being compressed from a crowded field into a small set of licensed survivors, with the rest required to wind down their European operations or leave.

A worked example: what a token and an exchange each face To make the rules concrete, it helps to walk through how MiCA treats two typical cases, a stablecoin issuer and an exchange, because the abstract categories become much clearer in motion. Imagine a company issuing a euro-pegged stablecoin and wanting European users to hold and trade it on regulated platforms. 

Under MiCA, that token is an electronic money token, so the issuer must hold an e-money or credit institution license, back every token fully with reserves held in safe, segregated accounts, grant holders the right to redeem their tokens for the underlying currency on demand, publish a compliant whitepaper, and accept that it cannot pay holders any interest or yield. If the company does all of this and secures authorization, its stablecoin can be offered across the bloc; if it does not, regulated exchanges must refuse to list it, exactly the fork in the road that separated the compliant dollar stablecoin from the non-compliant one. The token’s fate under MiCA is decided entirely by whether its issuer accepts this package of obligations.

Now imagine an exchange that wants to keep serving European customers. Its path runs through CASP authorization. It must apply to a national regulator in some member state, prove it meets MiCA’s standards for governance, capital, and the safekeeping and segregation of customer assets, stand up the identity-verification and anti-money-laundering machinery that turns it into an obliged entity under European law, implement the travel rule so it passes sender and recipient information on transfers, meet the operational-resilience and cybersecurity requirements, and submit to ongoing supervision and market-conduct rules. If the regulator grants authorization, the exchange can passport that single license across all twenty-seven member states and operate bloc-wide. 

If it cannot meet the bar or applies too late, it must stop serving European Union clients once the transition ends, winding down in an orderly way. The two journeys share a logic: MiCA offers a single, valuable prize, legal access to the entire European market, in exchange for accepting obligations modeled on those that govern banks and regulated financial firms.

What this worked example reveals is the deeper character of MiCA. It is not a light-touch registration that lets crypto firms keep operating much as before with a new label. It is a serious authorization regime that demands real reserves, real controls, real segregation of customer money, and real accountability, and it forces every issuer and service provider to decide whether the prize of European market access is worth the cost of meeting those demands. 

For well-resourced firms with a long-term commitment to Europe, the answer is often yes, and they have built the compliance machinery to clear the bar. For many smaller or offshore operators, the cost is too high or the timeline too short, which is why the market is narrowing toward a smaller set of licensed survivors. The categories and rules described earlier are not bureaucratic abstractions; they are the concrete hurdles that decide, token by token and firm by firm, who gets to operate in Europe after the transition closes.

What MiCA leaves unsettled For all its ambition, MiCA leaves important questions open, and the gaps are as revealing as the rules. The largest unsettled area is decentralized finance. MiCA is built around identifiable issuers and service providers, the companies it can authorize and supervise, but a genuinely decentralized protocol has no company at its center, no firm to hold a license or answer to a regulator. MiCA states that fully decentralized arrangements, those provided without any intermediary, fall outside its scope, which sounds clean until you ask what “fully decentralized” actually means. 

The market supervisor has not yet defined the term precisely, and most real protocols sit somewhere in the middle, with a governance token, a development team, a foundation, or a front-end operator that a regulator might decide counts as an intermediary. The result is genuine uncertainty about which DeFi protocols MiCA captures and which it does not, a gap that will be filled by future guidance and enforcement instead of the text itself.

Other tensions are surfacing as the rules meet reality. MiCA places caps on how widely very large stablecoins denominated in non-European currencies, such as dollar stablecoins, can be used as a means of payment within the bloc, a provision aimed at protecting European monetary sovereignty but one that complicates life for a market where most trading is dollar-denominated. 

There are overlaps with other European financial laws, such as payment services rules, that can double the compliance burden for some stablecoin activities and have prompted worries about the competitiveness of euro stablecoins. And politically, the dossier has grown charged, with some member states floating the idea of a mechanism to switch off foreign stablecoins seen as a systemic threat. 

None of these unsettled questions undermines MiCA’s core achievement of creating a single framework, but they are reminders that a law this sweeping cannot anticipate everything, and that MiCA will keep evolving through guidance, enforcement, and amendment for years after the headline deadline passes.

MiCA in the global picture MiCA does not exist in isolation, and seeing it alongside parallel efforts elsewhere reveals where global crypto regulation is heading. The same years that produced MiCA also produced the United States’ first comprehensive federal stablecoin law, the United Kingdom’s move toward its own crypto regime under its financial regulator, and Hong Kong’s stablecoin ordinance, among others. 

These frameworks differ in detail, but they converge on a striking number of core principles: stablecoin issuers should hold full, high-quality reserves; they should be licensed and supervised; holders should have clear redemption rights; service providers should enforce identity checks and anti-money-laundering controls; and the whole apparatus should be brought inside the regulatory perimeter that governs traditional finance. MiCA, having arrived early and comprehensively, has functioned as something of a reference point that later frameworks echo and respond to.

This convergence matters for anyone trying to understand the trajectory of the industry. The era in which crypto operated in a regulatory vacuum, where an exchange could serve a global audience with minimal oversight, is closing, and MiCA is one of the clearest markers of that shift. The picture that emerges is of a maturing market in which access increasingly depends on compliance, in which the same stablecoin can be freely available in one jurisdiction and delisted in another based purely on its issuer’s regulatory posture, and in which the cost of operating legally has risen sharply. 

For Europe specifically, MiCA’s promise is a safer, more transparent market with clear rules and a public register of authorized firms and tokens that anyone can consult. Its cost is a heavier compliance burden, a narrower field of providers, and reduced access to some popular global assets. Whether that trade favors consumers or stifles innovation is the live debate, but the direction is set: in Europe, crypto is now a regulated activity, and after July 1, 2026, that is true without exception.

What it means for everyday users For an ordinary person using crypto in Europe, MiCA changes the landscape in concrete ways worth understanding before the deadline instead of after. The most immediate effect is on which platforms and tokens you can use. If you rely on an exchange that has not secured a MiCA license, that platform may be forced to stop serving European Union clients after July 1, 2026, which in practice can mean frozen new deposits, halted trading features, and eventually a forced withdrawal of your funds, sometimes during a period of low liquidity and high fees. The protective move is to check, today instead of on July 2, whether the platforms you use have secured or are clearly on track to secure authorization, and to favor those that have. An unauthorized service operating after the deadline offers reduced legal protection and potential restrictions on access to your own assets.

The second effect is on stablecoins. If you hold a non-compliant stablecoin on a European Union-regulated exchange, you may find it delisted, with trading pairs removed and liquidity drying up, which is why many European users have shifted toward MiCA-authorized options. You can still self-custody whatever you like, but the convenient on-ramps and trading pairs increasingly favor compliant tokens. The broader takeaway is that MiCA, for all its complexity, ultimately aims to make the European crypto market safer and more transparent for users by ensuring the exchanges they trust meet real standards and the stablecoins they hold are genuinely backed. The cost of that safety is fewer choices and more friction, and a transition period that, for some platforms and tokens, ends abruptly. 

The practical wisdom is simple: understand which of your platforms and assets are compliant, make any moves before the deadline instead of during the disruption, and treat MiCA authorization as a meaningful signal that a service has accepted real regulatory accountability.

Frequently Asked Questions What does MiCA stand for and what is it? MiCA stands for Markets in Crypto-Assets. It is the European Union’s first comprehensive law for crypto-assets and the companies that deal in them, formally Regulation (EU) 2023/1114. It replaces the previous patchwork of national rules with one harmonized framework across all twenty-seven member states, covering token issuers and service providers like exchanges, custodians, and wallet providers. Its goals are to protect consumers, prevent market abuse, ensure stablecoins are properly backed, and bring crypto inside the same kind of regulatory perimeter that governs traditional finance, while letting authorized firms operate bloc-wide.

Why was USDT delisted in Europe but not USDC? Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized and meets MiCA’s reserve, redemption, and governance rules. Circle pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, so they remain available. Tether did not apply for MiCA authorization and confirmed USDT was non-compliant, so European Union-regulated exchanges delisted it. USDT is not banned outright; it can still be self-custodied and traded on decentralized exchanges, but licensed European platforms can no longer offer it.

What happens on July 1, 2026? That is when MiCA’s transition period ends across the entire European Union. The transition, or grandfathering, let firms already operating under national rules keep going while they applied for full MiCA authorization. After July 1, 2026, any company providing crypto services to European Union clients without a proper MiCA license is breaking European Union law. The market supervisor has stated there will be no extensions. Because relatively few firms have secured licenses, especially to run trading platforms, many exchanges may be forced to exit the European market or wind down their services there.

What is a CASP under MiCA? A CASP is a crypto-asset service provider, MiCA’s term for companies that offer crypto services such as exchanges, brokers, custodians, wallet providers holding customer assets, and trading platforms. To serve European Union clients, a CASP needs MiCA authorization, which comes with obligations modeled on traditional finance: identity checks and anti-money-laundering controls, segregation and safekeeping of customer assets, governance and capital standards, market-conduct rules against manipulation and insider trading, operational-resilience requirements, and the crypto travel rule. Once authorized in one member state, a CASP can passport its services across all twenty-seven.

Does MiCA regulate DeFi and NFTs? Only partly, and with significant uncertainty. MiCA largely excludes non-fungible tokens unless they are issued in a large fungible series that makes them behave like ordinary tokens. For decentralized finance, MiCA says fully decentralized arrangements provided without any intermediary fall outside its scope, but it has not precisely defined “fully decentralized.” Since most protocols have a governance token, a development team, a foundation, or a front-end operator, regulators may decide some of them have an intermediary that MiCA captures. So the treatment of many DeFi protocols remains unsettled and will be clarified through future guidance and enforcement.

How does MiCA affect ordinary crypto users in Europe? Mainly through which platforms and tokens you can use. If an exchange you use has not secured a MiCA license, it may have to stop serving European Union clients after July 1, 2026, which can mean halted deposits and trading and eventually forced withdrawals. Non-compliant stablecoins may be delisted from regulated exchanges, with liquidity shifting to compliant ones like USDC. The protective steps are to check whether your platforms are authorized, move before the deadline instead of during any disruption, and treat MiCA authorization as a signal that a service has accepted real regulatory accountability. You can still self-custody assets freely.

This article is educational information, not legal or financial advice. MiCA implementation, license counts, stablecoin compliance status, and deadlines can change, and details reflect reporting available as of June 25, 2026. Confirm current requirements and the status of specific platforms and tokens through official sources such as the European Securities and Markets Authority register before relying on anything described here.

In contrast to comparable features provided by centralized exchanges, dSLTP uses Orbs-powered decentralized infrastructure. By expanding on its current integration of the Orbs-powered dLIMIT and dTWAP protocols, the launch broadens SushiSwap’s range. One of DeFi’s most established decentralized exchanges, SushiSwap, has included dSLTP, the Orbs Layer-3 technology-powered stop-loss and take-profit protocol. Through decentralized stop-loss and take-profit orders, users may automate trade execution from inside the SushiSwap trading interface thanks to the integration.

By expanding on its current integration of the Orbs-powered dLIMIT and dTWAP protocols, the launch broadens SushiSwap’s range of sophisticated trading capabilities. In order to control risk, safeguard gains, and lessen the need for continuous market monitoring while retaining complete custody of their assets, users may now establish automatic orders that execute when predetermined price goals are met.

Currently, dSLTP is accessible on SushiSwap for Ethereum, Base, Arbitrum, and Katana, giving traders in several blockchain ecosystems access to sophisticated order capabilities. In contrast to comparable features provided by centralized exchanges, dSLTP uses Orbs-powered decentralized infrastructure.

The protocol maintains the composability and transparency of decentralized finance by enabling stop-order automation without the need for centralized servers, custodians, or off-chain execution mechanisms.

“Stop-loss and take-profit orders are among the most widely used tools in trading, yet they’ve largely been unavailable in a decentralized environment,” said Ran Hammer, Vice President of Business Development at Orbs. “By bringing dSLTP to SushiSwap, we’re giving traders the ability to automate risk management and execution without sacrificing the transparency and self-custody that make DeFi unique. It’s another milestone in closing the gap between centralized and decentralized trading experiences.”

A variety of execution settings, including as trigger prices, optional limit prices, order expiry dates, and percentage-based trading strategies, may be configured by traders via the interface. The SushiSwap interface allows for immediate order monitoring, modification, and cancellation.

When an asset drops below a defined price, stop-loss orders instantly take effect, assisting traders in reducing their exposure to downside risk under erratic market circumstances. Take-profit orders enable users to lock in profits in accordance with their trading strategy by triggering when a target price is met. When combined, the order types provide traders a framework for automated profit-taking and risk management.

The launch is the most recent addition to Orbs’ expanding collection of decentralized trade protocols. In addition to dLIMIT, dTWAP, Liquidity Hub, and Perpetual Hub, dSLTP is intended to provide on-chain markets with sophisticated execution capabilities that are often associated with conventional finance and centralized exchanges.

Advanced order types are becoming more and more crucial for traders looking for more accuracy, efficiency, and control as decentralized exchanges continue to develop beyond simple token swaps. Now that dSLTP is operational on SushiSwap, customers may access institutional-grade trading capabilities while staying entirely on-chain.

One of DeFi’s most well-known decentralized exchanges, SushiSwap was first introduced on Ethereum in 2020 and is now available on other chains. SushiSwap, a leader in community-governed DeFi infrastructure, is a reliable source of on-chain trading volume and provides a wide range of trading and liquidity options.

Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.

Key Takeaways American Financial raised its dividend 10% in 2025, marking 20 consecutive years of increases. AFG declared a $1.50 per share special dividend in February 2026, totaling about $125 million. AFG returned nearly $260 million via dividends and buybacks in first-quarter 2026. American Financial Group, Inc. (AFG - Free Report) has one of the most shareholder-friendly capital allocation policies in the U.S. insurance sector. AFG regularly generates capital that is needed to support underwriting operations. Returning excess capital to shareholders in the form of regular and special cash dividends and through opportunistic share repurchases is an important and effective component of American Financial’s capital management strategy.

AFG's shareholder return profile is a major investment attraction. The combination of growing regular dividends, frequent special dividends, opportunistic buybacks and strong underwriting profitability has enabled the company to deliver substantial cash returns to investors over time.

In August 2025, AFG increased its annual dividend by 10% to $3.52 per share, marking its 20th consecutive year of dividend increases. The company's 10-year dividend CAGR is approximately 12.3%. This increase in AFG’s annual dividend reflects its confidence in the company’s financial condition, liquidity and prospects for long-term growth.

AFG, the specialty property & casualty insurer, supplements its regular dividend with large special dividends when excess capital accumulates. In February 2026, the board declared a special cash dividend of $1.50 per share. The aggregate amount of this special dividend will be approximately $125 million. This special-dividend policy has become a major component of the company's total shareholder return strategy and distinguishes it from many peers that rely primarily on regular dividends and buybacks.

Management opportunistically buys back stock when valuations are attractive. During the first quarter of 2026, AFG repurchased approximately $60 million of shares, reducing share count and enhancing per-share earnings growth. AFG returned nearly $260 million to the shareholders through a combination of regular dividends, special dividends and share repurchases in the first quarter of 2026. AFG’s entrepreneurial, opportunistic culture and disciplined operating philosophy continue to position it well for long-term success.

What About Its Peers?RLI Corp. (RLI - Free Report) has one of the most shareholder-friendly capital return programs in the property & casualty insurance industry. The company combines a steadily growing regular dividend, frequent special dividends and opportunistic share repurchases to return excess capital to shareholders while maintaining underwriting discipline. The company has increased its regular dividend for 51 consecutive years, placing it among the longest dividend-growth records in the insurance sector.

First American Financial Corporation (FAF - Free Report) follows a balanced capital-return strategy that combines a steadily growing dividend with opportunistic share repurchases. FAF generally uses a combination of regular dividend increases and selective share repurchases to distribute excess capital. FAF has increased its dividend for more than 15 consecutive years, reflecting management's commitment to returning capital through various housing market environments.

AFG’s Price PerformanceShares of AFG have gained 11.1% in the past year, outperforming the industry.

Image Source: Zacks Investment Research

AFG’s Expensive ValuationThe stock is overvalued compared with its industry. It is currently trading at a price-to-book ratio of 2.46, above the industry average of 1.41.

Image Source: Zacks Investment Research

Estimate Movement for AFGThe Zacks Consensus Estimate for AFG’s second-quarter 2026 has moved down 1.6%, and the third-quarter 2026 EPS has moved up 13.5% in the past 60 days. The same for full-year 2026 and 2027 EPS has moved up 3.5% and 2%, respectively, in the past 60 days.

The consensus estimate for AFG’s 2026 and 2027 EPS and revenues indicates a year-over-year increase.

Image Source: Zacks Investment Research

AFG stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

New Solution Combines AI-Powered Creative Optimization In-Flight with Contextual Signals to Deliver More Relevant Advertising Experiences Across Streaming Environments

Announcement Wraps Omnicom Media's Cannes News Blitz Revealing First-Mover Partnerships That Connect Brand Content to Platform Programming, Viewing Experiences and Consumer Expectations

, /PRNewswire/ -- Omnicom Media, an Omnicom (NYSE: OMC) connected capability, and NBCUniversal have co-developed a new solution to bring greater contextual intelligence and creative relevance to CTV advertising. The initiative combines audience and performance data from Omnicom's Acxiom identity solution with NBCUniversal's contextual signals to power Dynamic Contextual Content (DCC), a new approach to CTV advertising that aligns tailored creative messaging with specific episodes and environments in-flight.

The initiative is designed to help brands develop adaptive creative experiences tailored to how consumers engage with streaming content in real time. By pairing contextual signals with AI-powered creative production and optimization, the companies are creating a more intelligent, self-optimizing CTV system that enables brands to rethink how creative performance is measured and delivered.

For example, a travel brand could run a connected TV campaign across NBCUniversal programming tied to summer travel planning. Based on contextual signals combined with real-time engagement data, the travel brand could adapt its creative mid-flight based on the more optimally performing content environment.

The DCC solution grew out of Omnicom Media's Connected Content study, which examined consumer sentiment around the current state of advertising and explored the factors that drive engagement across content and delivery experiences. The research found that while streaming environments have evolved rapidly, creative formats and delivery systems have not kept pace with how audiences actually experience CTV content today.

"Consumers expect advertising to feel more connected to the experience they are having in the moment," said Megan Pagliuca, Chief Product Officer at Omnicom Media. "Today, even premium CTV advertising is often delivered without consideration for the context surrounding it. Through this collaboration with NBCUniversal, we are bringing together data, content intelligence, and AI-powered creative capabilities to help brands move from simply reaching audiences to delivering relevance within the moments that matter most."

How It Works

Acxiom audience data is paired with NBCUniversal content metadata to identify priority shows, episodes, environments, and moments. Advertisers can then map tailored creative variants - enabled by the Omnicom Production AI-driven content and production engine - to the content moments where they are expected to resonate most strongly with their specific audiences, moving from fixed creative assets to in-flight creative optimization. Creative versioning is informed by performance measurement and integrated into Omni's Video Content. With this integration, brands understand which combination of contextual tags and creative versions are driving business objectives.

"Marketers are navigating a fragmented, highly competitive ecosystem while being held to performance metrics," said Ryan McConville, Chief Product Officer and EVP, Ad Products & Solutions, NBCUniversal. "By pairing NBCUniversal's content metadata with Omnicom's audience and performance data, we can make creative optimization actionable and open up more relevant, effective ways for brands to engage their customers."

The collaboration reflects a broader shift in the streaming marketplace, where marketers are increasingly focused not only on reaching audiences at scale, but also on improving the quality and contextual relevance of each advertising exposure.

The Dynamic Contextual Content solution is currently in beta and is expected to be live in the US by end of year.

CONTACT: [email protected]

About Omnicom Media
Omnicom Media, an Omnicom (NYSE: OMC) Connected Capability, is the world's largest global media management network. Powered by the Omni Intelligence Platform, Omnicom Media agencies leverage $75.6 billion in billings, 40,000+ specialists across 70+ markets, and the industry's most powerful portfolio identity, commerce, and intelligence assets to design dynamic Growth Ecosystems that enable the world's most ambitious businesses to grow faster and smarter. The Omnicom Media portfolio includes global media agency brands OMD, Initiative, PHD, UM, Hearts & Science, and Mediahub; core Omnicom Integrated Media offerings Acxiom, the world's premier identity solution, and the Flywheel digital commerce practice; and specialty services across the cloud consulting, creator, financial, healthcare, and sports & entertainment categories.  For more information visit omnicommedia.com

SOURCE Omnicom Media

Key Takeaways GlobalFoundries' Q1 gross margin rose 510 bps to 29%, as revenues increased 3% to YoY $1.63B.GFS saw Communications Infrastructure and Data Center revenues jump 32%, helped by a richer AI mix.GlobalFoundries expects silicon photonics revenues to roughly double in 2026 as SiGe demand stays strong. GlobalFoundries Inc. (GFS - Free Report) is starting to show that its AI opportunity is not limited to direct exposure to GPUs or leading-edge logic chips. Instead, the company is benefiting from the broader infrastructure required to support AI, including silicon photonics, silicon germanium, automotive semiconductors, embedded memory and industrial connectivity.

The first quarter of 2026 suggests that strategy is beginning to pay off. While first-quarter revenues increased a modest 3% year over year to $1.63 billion, the more important story was profitability. Gross margin (Non-IFRS) expanded to 29%, up from 23.9% a year earlier, a remarkable 510-basis-point improvement and the largest year-over-year expansion in more than three years. Management now expects another quarter of roughly 28.5% gross margin despite ongoing investments in capacity and technology. The improvement was driven by a richer revenue mix, with Communications Infrastructure and Data Center revenues climbing 32% to $230 million. Management expects silicon photonics revenues to roughly double in 2026 and forecasts high-30% growth for the broader segment.

The margin implications could be meaningful. Management described silicon germanium, another key optical networking, as margin accretive and said demand is strong enough that capacity at its Vermont fab is oversubscribed well into 2027. GlobalFoundries is expanding capacity in silicon photonics, FDX and high-performance SiGe to meet customer demand, but these investments are being targeted toward higher-value technology corridors rather than broad commodity capacity.

GlobalFoundries is also extending its AI exposure into physical AI, including robotics and industrial automation. The company expects Home and Industrial IoT to become a key beneficiary of physical AI beyond 2026, even though that segment declined in the first quarter due to shipment timing and inventory normalization. Its partnership with Inova Semiconductors for a robotics control reference platform supports this longer-term strategy.

At 29% non-IFRS gross margin, GlobalFoundries is close to a key profitability milestone. If silicon photonics continues to scale, automotive remains resilient and Technology Services grows as expected, 30% may not be the ceiling. It may be the beginning of a more profitable phase for the company.

Can GFS Outpace Silicon Photonics Rivals Like TSM & UMC?GlobalFoundries is not alone in targeting the fast-growing silicon photonics market. Among its closest competitors is Taiwan Semiconductor Manufacturing Company Limited (TSM - Free Report) , which is advancing co-packaged optics through its COUPE platform. Leveraging its leadership in advanced process technologies and packaging, TSM is well-positioned to serve hyperscalers and AI chip designers seeking higher-bandwidth interconnect solutions. However, GlobalFoundries differentiates itself with a specialized optical networking portfolio that combines silicon photonics, silicon germanium, packaging, testing and manufacturing services.

United Microelectronics Corporation (UMC - Free Report) is also expanding its presence in silicon photonics. The company recently announced a strategic partnership to develop thin-film lithium niobate photonics for AI infrastructure and plans to launch its first silicon photonics process design kit in 2027. UMC is also evaluating hybrid bonding, TSV and chiplet integration to support future co-packaged optics applications, underscoring the industry's growing focus on AI networking technologies.

GFS’ Stock Price Performance & Valuation TrendShares of GlobalFoundries have surged 133.7% in the past six months, outperforming the Zacks Electronics - Semiconductors industry’s 48.4% growth.

GFS 6-Month Price Performance

Image Source: Zacks Investment Research

GFS stock is currently trading at a premium to its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 47.61, as shown in the chart below.

P/E (F12M)

Image Source: Zacks Investment Research

Earnings Estimate Revision of GFSGFS’ earnings estimates for 2026 and 2027 have trended upward in the past 60 days to $1.89 and $2.62 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 9.9% and 38.6%, respectively.

Image Source: Zacks Investment Research

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

Key Takeaways Labcorp is expanding oncology, neurology and genetic testing to support long-term growth.LH's Q1 2026 revenues increased 5.8%, aided by acquisitions, partnerships and network expansion.Labcorp's AI, automation and launchpad savings initiatives aim to improve efficiency and margins. Labcorp Holdings Inc. (LH - Free Report) , or Labcorp, is well-poised for growth in the coming quarters owing to its progress on its strategic priority to lead in important specialty testing areas, which are growth drivers for both its businesses. Strategic partnerships and acquisitions help the company broaden its patient and provider network while deepening its presence in key markets. Additionally, it leverages AI and technology to enhance margins and customer experience. Yet, macroeconomic pressures and adverse currency swings pose risks for Labcorp.

In the past year, this Zacks Rank #2 (Buy) stock has risen 3.2% compared with 2.2% growth of the industry and a 23.3% increase of the S&P 500 Composite.

The renowned healthcare diagnostics company has a market capitalization of $21.20 billion. Labcorp’s earnings yield of 6.9% is well ahead of the industry’s 4.3% yield. In the trailing four quarters, the company delivered an average earnings surprise of 3.31%.

Let’s delve deeper.

Tailwinds Supporting LH StockTargeted Development in High-Growth Areas: Labcorp’s continued expansion in faster-growing specialty testing areas, such as oncology, women’s health, autoimmune disease and neurology, is strengthening its growth profile. In the first quarter of 2026, Neurology delivered double-digit growth, driven by an expanded Alzheimer's testing portfolio. Oncology benefited from several newly launched liquid biopsy tests and wider availability of MRD solutions. The MRD portfolio includes the Plasma Detect ID for patients with stage I–III breast cancer or stage I–IIIA non-small cell lung cancer, as well as the Labcorp Plasma Detect Genome for stage III colon cancer, which is now available nationwide.

Image Source: Zacks Investment Research

The integration of Invitae has further expanded the company’s reach in genetic testing solutions. Labcorp is also collaborating with Illumina to advance precision oncology through applications of next-generation sequencing (NGS) solutions across the healthcare ecosystem. The Labcorp OnDemand consumer health platform delivered double-digit growth in the first quarter, supported by its expanded offerings.

Strategic Acquisitions and Partnerships to Drive Growth: In recent years, Labcorp has built a significant number of strategic relationships with health systems and regional/local laboratories, expanding its patient and provider network, and strengthening its presence in key markets. In the first quarter of 2026, enterprise revenues grew 5.8% year over year, with net acquisitions contributing 1.4%.

Recent activities include the purchase of select assets of Crouse Health’s Laboratory Alliance of Central New York’s (Lab Alliance) laboratory business and an agreement to manage their daily inpatient lab operations. Labcorp also acquired select assets of New York-based Empire City Laboratories, became the first U.S. commercial laboratory with an agreement to implement Roche’s cobas Mass Spec solution, and signed a new multi-year partnership agreement with SOMOS.

Focus on Operational Efficiency: The company continues to benefit from its launchpad initiatives, which target $100-$125 million in savings annually. In the first quarter of 2026, Labcorp expanded its collaboration with PathAI to deploy an FDA-cleared digital pathology platform across its national anatomic pathology labs and hospital lab partnerships. Together with Amazon Web Services and Datavant, the company is developing a new AI-powered real-world data platform to accelerate Alzheimer's research. More recently, Labcorp teamed up with Optum.ai to simplify laboratory operations by advancing AI.

Across its core operations, AI and automation are already deployed in areas such as pathology, cytology and microbiology. Labcorp’s generative AI tool, Test Finder, is designed to simplify lab test selection and is also integrated into Labcorp Diagnostic Assistant.

What Ails Labcorp?Macroeconomic Risks: Labcorp’s operations are heavily dependent on the demand for diagnostic testing and drug development services from patients, physicians, hospitals, medical device companies, and others. In recent times, volatilities in global economic conditions, including inflation, have significantly reduced the demand for these services, affecting the customers’ ability to pay and, consequently, the profitability of the company. Added to this, the escalation of the present geopolitical tensions and retaliatory tariffs is putting pressure on the supply chain and services, increasing the prices of offerings. In the first quarter of 2026, the cost of revenues went up 5.3% year over year.

Exposed to Currency Headwind: Labcorp's huge exposure in international markets makes it vulnerable to currency fluctuations. With the recent upward trend observed in the value of the U.S. dollar, further acceleration expected by analysts in this value will cause the company’s revenues to face a tough situation overseas.

LH Stock’s Estimate TrendThe Zacks Consensus Estimate for Labcorp’s 2026 earnings per share (EPS) has increased 1 cent to $18.00 in the past 30 days. 

The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $14.71 billion, implying 5.4% growth compared to the last year.

Other Key PicksSome other top-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .

Globus Medical has an earnings yield of 5.9% compared with the industry’s negative 3.5% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 39.2% against the industry’s 7.5% decline over the past year.

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

Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 5.5% growth. Shares of the company have dipped 9% against the industry’s 6.9% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.

Integra LifeSciences, carrying a Zacks Rank #2, has an earnings yield of 13.6% against the industry’s negative 3.5% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 45.5% against the industry’s 7.4% decline over the past year.

Decentralized finance (DeFi) protocol Spark has deployed approximately $150 million in stablecoin liquidity across two Uniswap v4 pools on Ethereum as part of a collaboration aimed at creating shared liquidity and exchange infrastructure for stablecoin issuers.

A Spark spokesperson told Cointelegraph that the initial deployment is live in two pools pairing USDS with PayPal USD (PYUSD) and USDT, with USDS serving as the foundation. Spark described the deployment as one of the largest automated market maker (AMM) liquidity migrations in DeFi.

“These pools represent the initial deployment of approximately $150 million of liquidity and establish the first phase of the Stablecoin FX Layer,” the spokesperson said. “This initial deployment focuses on bootstrapping shared liquidity on Uniswap v4.”

Earlier this month, Standard Chartered identified Uniswap as a potential beneficiary of tokenized assets moving into DeFi. It forecast that total assets held in DeFi could reach $2.7 trillion by 2030, with Uniswap potentially emerging as a liquidity venue for the growing market. 

The deployment announced Thursday lays the groundwork for a planned programmable liquidity system that could reduce the need for banks, financial technology firms and stablecoin issuers to build separate liquidity networks while testing whether Uniswap can make onchain capital more efficient without weakening market depth.

Spark plans programmable liquidity expansionSpark said it plans to introduce its Shared Liquidity Layer and DualPool hook in subsequent phases using Uniswap v4's programmable architecture to coordinate how liquidity is distributed across stablecoin markets.

A liquidity hook enables protocols to seamlessly integrate with platforms for capital access and developing yield and trading strategies.

Spark said a hook is intended to allow capital not immediately needed for trades to be deployed into governance-approved products, liquidity venues and yield-generating strategies.

The implementation of the DualPool hook will go through a separate security review, testing and production-readiness process before deployment. The first phase uses standard Uniswap v4 pools rather than the planned programmable framework.

Spark said the planned framework is intended to give future stablecoin issuers access to shared liquidity rather than requiring them to individually bootstrap pools, coordinate market makers and manage inventory across different venues.

The spokesperson told Cointelegraph that Spark is working with additional partners across the stablecoin ecosystem but is not yet ready to disclose those integrations.

Uniswap seen as winner as tokenized assets move onchainIn a June 15 note to clients, StanChart's bank's head of digital assets research, Geoff Kendrick, said that tokenized treasures, equities, bonds and other assets could bring more trading activity and liquidity to decentralized exchanges as their DeFi use expands. 

DeFi total value locked as of June 25. Source: DefiLlama

This new $150 million migration offers a more immediate test of StanChart's infrastructure thesis, though it involves stablecoins rather than tokenized securities. 

The migration also follows Uniswap’s push into institutional tokenized-asset trading. On Feb. 12, BlackRock said it would bring its $2.1 billion tokenized Treasury fund, BUIDL, to Uniswap, allowing eligible institutional investors and market makers to trade the security through decentralized infrastructure. 

Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

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

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I am opening with our verdict on Credo Technology Group (NASDAQ:CRDO | CRDO Price Prediction). The stock has rallied 86.94% year to date, and our proprietary model now sees the shares trading almost exactly where they should.

The 24/7 Wall St. price target for Credo is $263.97, which sits a hair below the last close of $268.99. That implies 1.87% downside, a hold rating, and a 90% (high) confidence reading.

Metric Value Current Price $268.99 24/7 Wall St. Price Target $263.97 Upside/Downside -1.87% Recommendation HOLD Confidence Level 90% Why We Could Be Wrong Our 24/7 Wall St. price target sits a touch below where Credo trades today, and that gap is small enough to flip. The bull catalysts are real: the just-closed Dust Photonics acquisition opens a silicon photonics path to 3.2 Tbps, and management is guiding to more than $600 million in optical revenue for fiscal 2027. Treat our target as one datapoint. A full bull case sits below.

From $79 to $269 in a Year Credo has been one of the AI infrastructure trade’s cleanest winners. The stock is up 192.63% over the past year, 23.16% over the past month, and 7.89% in the past week alone. Shares now trade 17% below the 52-week high of $308.67 and well above the $84.25 low.

The fuel is fundamental. Q4 FY26 revenue hit $437 million, up 157.02% year over year, with non-GAAP EPS of $1.16 beating the $1.0341 estimate by 12.17%. Full-year FY26 revenue tripled to $1.34 billion, and non-GAAP net income grew more than 5x to $662 million.

The Case for $335 and Higher Our bull-case path lands at $335.34 over the next 12 months, a 24.67% gain. The setup is credible. CEO Bill Brennan guided FY27 revenue growth to more than 80% year over year, with Optical DSPs, SiPho PICs, and ZeroFlap optics each contributing more than $100 million.

He also flagged Neo Cloud customers eventually reaching roughly 20% of total revenue. The Street’s bullish camp is thick: 4 Strong Buy, 13 Buy, 1 Hold, 0 Sell ratings.

The Risks Worth Watching The bear path takes Credo to $207.53, or 22.85% downside. Customer concentration is the headline risk: in Q4, the top customer was 34% of revenue and the second largest was 27%. Inventories also jumped to $250.8 million, and the trailing P/E sits at 108.

In fairness, bulls would counter that the inventory build supports the FY27 optical ramp Brennan described, and the forward P/E is a more digestible 51. Composite sentiment has also slipped 10.03 points over 30 days.

Credo Price Prediction 2026-2030 The 24/7 Wall St. price target of $263.97 is functionally on top of the current quote, our recommendation is hold, and our confidence is 90%. The decisive factor is valuation symmetry: trailing multiples have caught up to FY26’s spectacular growth.

The bullish trigger to watch is whether the FY27 optical ramp tracks ahead of the $600 million bar and Neo Cloud customers diversify the top-line. The bearish trigger is whether the top-two customers slow orders or gross margin slips below the 67% to 69% guide.

Looking further out, here is where our model projects Credo could trade, assuming the optical inflection plays out and AI capex stays elevated.

Year 24/7 Wall St. Price Target 2026 $263.97 2030 $294.24 These projections assume Credo continues converting design wins into revenue. Significant upside could emerge from CPO and NPO traction in FY28, while a hyperscaler capex pause is the largest downside risk.

Paxos built PAXG to remove the operational overhead of holding gold. Storage, custody, and transfer are handled at the token level, backed 1:1 with the world’s finest gold and overseen by federal regulators, so holders get direct exposure to physical gold without the infrastructure burden that comes with it. As gold continues its strongest bull cycle in two decades, more investors are seeking the convenience of tokenized gold: lower-cost, faster to settle, and instantly transferable. PAXG has grown over 300% since 2024 and demand continues to increase. 

Today we're extending PAXG to Solana, the first step in PAXG's multi-chain expansion. You can find more information about where to buy PAXG on Solana here.

What Is PAXG?Pax Gold (PAXG) is a digital token where one token equals one fine troy ounce of physical gold. 

Each ounce is stored in London Bullion Market Association (LBMA) accredited vaults. The gold reserves are attested monthly by KPMG, providing token holders with regular, independent verification that every PAXG in circulation is fully backed by physical gold. In addition, the reserves undergo an annual physical audit conducted by Bureau Veritas, an independent inspection and certification body. This audit is limited to physical verification procedures performed on-site and does not constitute an attestation of ownership, valuation, or overall asset backing, but provides an additional layer of independent verification of the vaulted gold. If you hold PAXG, you hold the underlying physical gold under the legal custody of Paxos Trust Company, National Association.

We issue PAXG as a national trust bank regulated by the Office of the Comptroller of the Currency (OCC), one of the most rigorous oversight frameworks available for a digital asset issuer. That regulatory posture is not incidental and sets us apart in the market. It means your gold is held under legal custody, with monthly public attestations and full bar-serial transparency through our Gold Allocation Lookup tool.

A few specifics that differentiate PAXG from other ways to own gold:

No custody fees. Gold ETFs charge 10 to 40 basis points per year just to hold your position. PAXG charges zero for storage.

Near-instant settlement. On-chain transfers settle in seconds, compared to T+1 for Gold ETFs and T+2 for LBMA bars.

Redeemable for physical bars, unallocated gold, or USD. PAXG is redeemable for LBMA Good Delivery gold bullion bars (requires holder to have 430 PAXG), unallocated Loco London Gold, or USD at current market price. This can be completed through the Paxos site.

No accredited investor gate, no brokerage account, no large bar minimums.

How Is PAXG Created?Every PAXG token begins with physical gold. When demand for PAXG increases, Paxos purchases unallocated gold from our supplier, which is then allocated to LBMA-accredited vaults in London as Good Delivery bars. Once the gold is vaulted, it is tokenized: PAXG tokens are minted on-chain and held in Paxos' inventory wallets. When a customer buys PAXG from Paxos directly, tokens transfer directly from Paxos inventory to their wallet.

Every token in circulation is backed by a specific, auditable bar of physical gold. The flow is always the same direction: gold enters the vault before tokens enter the market.

Why Solana, and Why NowPAXG launched on Ethereum in 2019. In the past two years, the number of holders more than doubled, and average holding size more than tripled from $7,000 to $26,000.

That growth signals the opportunity to expand PAXG into new ecosystems and put it in the hands of more builders and users.

Solana's real-world asset ecosystem crossed $2.5 billion in TVL in May 2026, up from $215 million just twelve months ago. Transaction fees average a fraction of a cent, with sub-second confirmation and 99.9%+ uptime over the past year. It is an ecosystem mature enough to support a regulated, allocated gold token immediately at launch, with an active DeFi base ready to integrate native assets.

We are partnering with Sunrise Defi on our Solana expansion to bring PAXG natively to the ecosystem with active DeFi markets across major Solana DEXs and seamless integration into Solana wallets and aggregators.

Solana is the start of our multi-chain expansion for PAXG. Every piece of infrastructure we are shipping in this launch is designed to extend cleanly to every chain that comes next.

How We Built the InfrastructureGetting here required one foundational upgrade and one new deployment. Both matter for Solana and for every chain that comes after.

ETH PAXG Contract Upgrade

Expanding to new chains starts at the contract level. We upgraded the PAXG token contracts to support omnichain functionality across both EVM and non-EVM networks, with an architecture designed to extend cleanly as we add more chains.

The upgraded contracts maintain all existing compliance controls, the same supply verification that underpins our monthly KPMG attestations, and full auditability of every token in circulation across every chain where PAXG is live.

The upgraded contracts are open source, independently audited by Zellic, and available for review in our PAXG GitHub repository.

Existing Ethereum holders can bridge directly through the Paxos platform or through

LayerZero Stargate

. No re-purchasing, no re-custodying, no new attestation required.

PAXG on Solana: The Token Implementation

The Solana deployment of PAXG is built on the Token-2022 program, Solana's extended token standard that enables native compliance controls at the token level.

This is the same standard Paxos used for PYUSD and USDG on Solana. It lets us enforce the same regulatory requirements that exist on Ethereum without relying on a separate contract layer to do it.

The Permanent Delegate extension ensures PAXG on Solana meets the same regulatory requirements as the Ethereum contract. The result is a Solana-native PAXG token that carries the same compliance posture and supply verifiability as the Ethereum original.

This Is the FoundationThe Solana launch is the first step in PAXG's multi-chain expansion. The contract upgrades and infrastructure we shipped today  are built to add new chains faster with less overhead each time.

Whether you're a builder integrating tokenized gold into a Solana application or an institutional investor looking to learn how to buy PAXG, reach out here to get started or learn more.  

Footnotes:

¹ Solana RWA TVL growth from $215M to $2.5B over twelve months as of May 2026. Source: RWA.xyz. Reported independently by MEXC News and CryptoNews.net.

² Solana lending markets reaching $3.6B: as of December 2025 per DeFiLlama. Verify current figures before publication at defillama.com/chain/Solana as lending TVL fluctuates.

³ Last officially confirmed major outage: February 6, 2024, per the Solana Foundation's June 2025 Network Health Report. As of mid-2025, Solana had gone over 16 consecutive months without a major confirmed outage. 

PAX Gold, the gold-backed token issued by Paxos, is now tradeable on Jupiter, Solana’s dominant DEX aggregator. The integration was made possible through Sunrise DeFi, a liquidity gateway built by Wormhole Labs that handles the messy plumbing of onboarding new assets to Solana.

PAXG is the first gold token regulated by the Office of the Comptroller of the Currency to land on Solana.

How Sunrise makes it work Instead of forcing each new asset to negotiate with individual DEXes, liquidity providers, and block explorers one at a time, Sunrise bundles the entire onboarding process into a single pipeline. The result is day-one trading access the moment an asset goes live.

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A token like PAXG doesn’t have to sit in limbo for weeks while liquidity slowly materializes across fragmented venues. Sunrise pre-coordinates with Jupiter and other infrastructure partners, including the Solana block explorer Orb, so that trading and price discovery can happen immediately.

The platform has already tested this playbook with other assets. Bittensor’s TAO token was recently onboarded through the same process, suggesting that Sunrise is building a repeatable framework rather than a one-off integration.

Why gold on Solana matters PAXG is one of the more straightforward tokenized assets in crypto. Each token is backed by one fine troy ounce of London Good Delivery gold, held in Brinks vaults. Paxos, the issuer, operates under a New York State trust charter and is regulated by the OCC, which makes PAXG one of the few gold tokens with a clear regulatory pedigree.

Solana’s transaction fees are measured in fractions of a cent, and block times hover around 400 milliseconds.

What this means for investors Solana DeFi users can now trade a regulated gold token without bridging to Ethereum, paying Ethereum gas fees, or dealing with the latency of a slower network.

For Jupiter specifically, each new asset integration adds trading volume and fee revenue. Jupiter already dominates Solana’s DEX aggregation layer, and the Sunrise partnership effectively turns it into the default landing pad for cross-chain assets entering the ecosystem.

Wormhole, the bridge protocol behind Sunrise, suffered a high-profile exploit in 2022 that drained hundreds of millions of dollars. The team has overhauled its security since then, but the history is worth noting for anyone allocating significant capital through this pathway.

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

Exponent Finance just rolled out the feature that traditional finance has used for decades but DeFi has largely ignored: risk tranching. The Solana-based yield exchange launched its V2 platform on June 24, introducing a system that lets users pick their poison, either principal protection with modest returns or a higher-risk bet chasing outsized yield.

The first market uses ONyc, a reinsurance asset from OnReFinance, split into two tranches. The senior tranche (srONyc) targets roughly 6.4% APY with downside protection baked in. The junior tranche (jrONyc) aims for around 31.4% APY, absorbing more risk in exchange for the juicier number. In English: senior tranche holders get paid first if things go sideways, while junior tranche holders eat the losses first but collect bigger rewards when things go well.

How the tranching mechanics work Think of it like a layered cake where the bottom layer takes all the weight. Junior tranche depositors essentially cushion the senior tranche above them. If the underlying yield underperforms, junior holders absorb the shortfall before senior holders feel anything. If it overperforms, junior holders capture the excess.

The alpha phase launches with a $2.5 million cap, a deliberate constraint designed to stress-test the system with real capital before scaling up. Launch rewards exceeding $200K are available to early participants.

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Alongside the tranching product, V2 introduces Strategy Vaults and what Exponent calls an enhanced liquidity engine. Strategy Vaults are essentially pre-built portfolio positions that automate allocation across different yield opportunities. Rather than manually managing tranche positions, users can deposit into a vault that handles rebalancing according to a defined strategy.

Why this matters for Solana’s yield landscape The choice of a reinsurance asset as the first market is deliberate. Real-world asset (RWA) yields represent one of the fastest-growing segments in DeFi, and reinsurance specifically offers yield that’s uncorrelated with crypto market volatility. Pairing RWA yield with on-chain risk tranching creates a product that looks genuinely different from the usual lending-and-borrowing fare.

Exponent has been building toward this for a while. Since its mainnet launch in 2024, the protocol has recorded billions in trading volume without a security breach. The team has completed 12 tier-1 audits and allocated roughly $1 million specifically toward security measures.

On the funding side, Exponent has raised approximately $7.1 million in total. That includes a $2.1 million seed round in 2024 and a $5 million raise in April 2026.

What this means for investors Risk tranching isn’t a new concept in DeFi. Protocols like Tranche Finance and BarnBridge explored similar ideas during previous cycles, mostly on Ethereum. But adoption was limited, partly due to gas costs and partly because the underlying yield sources weren’t compelling enough to justify the added complexity.

For conservative investors, the senior tranche offers yield with a structural buffer against losses. For more aggressive participants, the junior tranche provides leveraged exposure to yield without the liquidation risk that comes with traditional leverage.

The $2.5 million cap on the alpha phase means this is still a small-scale experiment. Exponent plans to expand beyond the ONyc asset into other yield markets. The real test will be whether the tranching system maintains its target yields as more capital flows in and whether demand balances naturally between senior and junior tranches, because the whole structure depends on enough risk-hungry capital sitting in the junior layer to protect the conservative layer above it.

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

A month has gone by since the last earnings report for AutoZone (AZO - Free Report) . Shares have added about 2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is AutoZone due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for AutoZone, Inc. before we dive into how investors and analysts have reacted as of late.

AutoZone Q3 Earnings Beat EstimatesAutoZone posted third-quarter fiscal 2026 (ended May 9, 2026) earnings per share of $38.07, topping the Zacks Consensus Estimate of $36.18 by 5.2%. Earnings per share rose 7.7% from $35.36 a year ago.

The company’s net sales increased 8.4% year over year to $4.84 billion, but fell short of the consensus mark of $4.86 billion by about 0.5%. Domestic same-store sales increased 4.1% in the quarter, led by strong commercial momentum.

Sales Growth Accelerates on Commercial MomentumIn the reported quarter, domestic commercial sales totaled $1.4 billion, up from $1.27 billion in the year-ago period. Total sales represented the company’s largest year-over-year growth in more than three years, reflecting faster top-line momentum versus the first half of fiscal 2026. Total company same-store sales rose 3.9% on a constant-currency basis, supported by a 4.1% domestic comp and a 1.6% international comp on the same basis.

The mix of growth also leaned favorably. Domestic do-it-yourself sales rose 2.2% in the quarter, while domestic commercial sales increased 10.4%. The commercial outperformance was driven by better inventory availability at satellite stores, broader Hub and Mega-Hub coverage, and continued gains tied to service speed and delivery improvements.

Profitability Reflects LIFO and Mix PressureGross profit rose to $2.52 billion from $2.35 billion in the prior-year quarter. Gross profit margin was 52.2%, down 57 basis points from the year-ago period. A $20 million non-cash LIFO charge in the quarter, which contrasted with a $16 million LIFO credit in the prior-year quarter, weighed on the year-over-year margin comparison.

Operating profit increased 6.6% to $923.8 million. Operating expenses were 33.1% of sales versus 33.3% last year, indicating modest leverage despite the faster store growth cadence. Net income rose to $641.5 million from $608.4 million a year ago.

Store Growth Push Builds Scale Across RegionsAutoZone continued to add stores at a faster pace. During the quarter, it opened 82 new stores globally, including 57 in the United States, 20 in Mexico and five in Brazil. Total store count ended at 7,856, consisting of 6,766 in the United States, 933 in Mexico and 157 in Brazil.

The company continues to expand its commercial footprint. Mega-Hubs acted as a key driver of improved parts availability, as these locations typically carry a significantly broader SKU count and can lift both commercial and retail demand by shortening delivery times in local markets.

Capital Returns Remain a Key FeatureShare repurchases stayed sizable in the quarter. AutoZone bought back 164,000 shares for $586.3 million at an average price of $3,582 per share, ending the period with $0.8 billion remaining under its current authorization.

Liquidity remained solid alongside a leveraged balance sheet structure typical of the company’s capital strategy. Cash and cash equivalents were $253.7 million as of May 9, 2026, while total debt stood at $9.02 billion, down from $8.8 billion as of May 10, 2025. The company reported a leverage ratio of 2.5x EBITDAR.

Inventory Position Tracks Growth and InflationInventory continued to build as the company invests to support growth initiatives and new stores. Merchandise inventories rose 10.8% year over year to $7.56 billion. Inventory per store increased to $962,000 from $908,000 in the year-ago quarter.

Net inventory, defined as merchandise inventory less accounts payable, remained negative on a per-store basis. Net inventory per store was negative $107,000 compared with negative $142,000 last year, while accounts payable as a percentage of inventory was 111.1% compared with 115.6% a year ago.

Q4 Commentary Centers on Inflation and LIFOThe company expects inflation and ticket growth to moderate in the fourth quarter versus the third quarter, with commentary pointing to a mid-4% range for ticket trends as the company laps higher inflation from the prior year. It also expects a planned non-cash LIFO charge of approximately $30 million for the fourth quarter, which would pressure gross margin and earnings per share versus a more favorable prior-year LIFO comparison.

The company expects weather-related softness late in the quarter, affecting certain heat-driven categories, while reiterating confidence in summer performance given ongoing execution initiatives. Internationally, the company expects a softer macro environment in Mexico and Brazil, with expectations for constant-currency same-store sales in a range similar to the third quarter.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

VGM ScoresCurrently, AutoZone has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, AutoZone has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Key Takeaways Teradyne's Q1 2026 robotics revenues rose 32% year over year to $91 million, its fourth straight gain. AI-related demand made up nearly 70% of Q1 2026 revenues, up from about 60% in the prior quarter. TER expects a large e-commerce customer to triple its 2026 revenue contribution versus 2025. Teradyne (TER - Free Report) is benefiting from the accelerating adoption of artificial intelligence (AI) across multiple industries, which is driving robust growth in its robotics and test solutions businesses. AI-related demand accounted for nearly 70% of the company’s revenues in the first quarter of 2026, up from about 60% in the previous quarter.

The company’s Robotics division delivered its fourth consecutive quarter of sequential growth, with first-quarter 2026 robotics revenues up 32% year over year to $91 million. This growth is notable because the first quarter is typically a seasonally weaker quarter. The company’s “one sales team” approach is driving results across verticals, and AI revenues now represents 15% of robotics sales.

The company’s robots are now used in environmental sensing within data centers, and Teradyne recently showcased a complex physical AI work cell in partnership with Generalist at NVIDIA’s GTC event. This demonstrates Teradyne’s ability to innovate and integrate AI-driven robotics into high-growth markets such as e-commerce, electronics manufacturing and semiconductors.

Further expanding its portfolio via partnership, in April 2026, Teradyne Robotics and Flex expanded their collaboration, with Flex both deploying Universal Robots cobots and MiR autonomous mobile robots in its own facilities and manufacturing key robotics components for Teradyne’s customers worldwide.

Teradyne continues to expect its large e-commerce customer to triple its revenue contribution in 2026 compared with 2025, which, if executed, would improve scale and utilization in the Robotics segment.

Teradyne Suffers From Stiff CompetitionTeradyne is facing stiff competition from companies such as KLA Corporation (KLAC - Free Report) and Cohu (COHU - Free Report) . Both KLA and Cohu are expanding their footprint in the AI space.

KLA is benefiting from the growing demand for AI space through its leadership in process control and its ability to address growth markets in wafer fab equipment, including high-bandwidth memory and advanced packaging.

In May 2026, Cohu secured approximately $5 million in orders for its DiamondX semiconductor test platform from a leading chip manufacturer to support the development and production of next-generation gallium nitride (GaN) power devices for AI data center power architectures.

TER’s Share Price Performance, Valuation, and EstimatesTeradyne shares have surged 120.7% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 15% and the Zacks Electronics - Miscellaneous Products increase of 70.6%.

TER Stock Performance
Image Source: Zacks Investment Research

TER stock is trading at a premium with a forward 12-month Price/Sales of 13.47X compared with the Electronics - Miscellaneous Products industry’s 7.64X. TER has a Value Score of F.

TER Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $7.09 per share, which has been unchanged over the past 30 days. This suggests 79.04% year-over-year growth.

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