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18 August 2026 | 17:33 Cash App is opening a new route into crypto for eligible U.S. customers. They will be able to use their Cash App balance to buy assets offered by MoonPay, including ether, solana, XRP and USDT.

Key Takeaways Cash App balances can fund MoonPay crypto purchases. Eligible users gain access beyond Bitcoin and USDC. MoonPay, not Cash App, handles the purchase flow. Wallet choice and network accuracy become the user’s responsibility. MoonPay’s eligibility, pricing and asset rules apply. Cash App is expanding access without adding a new token catalogue Cash App has long been associated with Bitcoin, and its recent USDC feature gave eligible customers a way to move digital dollars across supported networks. The MoonPay arrangement broadens the range of assets a Cash App customer can buy without requiring Block to build native support for each new token, chain and wallet.

The distinction matters. A customer is not buying ether or solana through a new Cash App trading screen. They are using their Cash App balance to pay for a MoonPay transaction.

MoonPay’s official purchase page lists more than 100 supported cryptocurrencies, including Bitcoin, ether, solana, XRP, USDT and USDC. The final selection available to an individual customer can still vary by jurisdiction, payment method and wallet compatibility.

MoonPay also requires users to complete its own onboarding and identity checks. The service asks the buyer to choose an asset, provide a wallet address and review the purchase before paying. Cash App may supply the funds, but it does not replace MoonPay’s compliance process or transaction rules.

The purchase path changes after the Cash App balance is used Cash App and MoonPay are handling different parts of the same customer journey. Cash App provides a familiar source of dollars. MoonPay is the on-ramp that converts those dollars into crypto and delivers it to a wallet.

Crypto Service Comparison A modern architectural look at native rails versus integrated gateway flows.

In-house ecosystem routing for primary assets.

Assets Involved

Bitcoin and USDC services

Order Location

Inside Cash App interface

Wallet Requirements

Cash App’s supported Bitcoin/USDC rails

Pricing & Terms

Cash App ecosystem rates

Destination Routes

Cash App transfer routes

CA FUNDED

External gateway checkouts powered by app balances.

Assets Involved

MoonPay’s eligible asset catalogue

Order Location

In MoonPay’s dedicated purchase flow

Wallet Requirements

MoonPay & target network rules

Pricing & Terms

MoonPay at final checkout

Destination Routes

Compatible external wallet choice

Decentralized peer-to-peer alternative routing.

Assets Involved

Full token ecosystem access

Order Location

DEX / Protocol interface

Wallet Requirements

Self-custody web3 standards

Pricing & Terms

Destination Routes

Direct-to-address transfer

That design gives Cash App a fast way to offer more choice while keeping its own crypto product focused. It also means that a customer who starts with a Cash App balance quickly enters a different environment, with different support, pricing and custody considerations.

The cleanest way to understand the partnership is as a bridge. Cash App supplies the funding rail; MoonPay provides access to the wider crypto market.

USDC inside Cash App is still a different product Cash App’s USDC service should not be confused with a MoonPay purchase.

Under Cash App’s official USDC rollout, eligible users can send and receive USDC on Solana, Ethereum, Polygon and Arbitrum. But the app automatically converts incoming USDC into U.S. dollars, leaving the customer with a unified dollar balance rather than a standalone USDC balance to manage.

Cash App handles the sourcing, conversion and settlement behind the scenes. That makes USDC a payment feature inside the app, not a broader self-custody crypto experience.

MoonPay takes the customer in the other direction. Instead of converting crypto back into a Cash App dollar balance, it lets the buyer choose a crypto asset and send it to a compatible wallet. That can be useful for people who want to hold assets outside Cash App or use them across other crypto services. It also makes the wallet destination a far more important decision.

More assets mean more room for mistakes Buying Bitcoin or receiving USDC through a familiar app can feel straightforward. Moving into a wider set of tokens and networks is less forgiving.

A user needs to confirm the asset, blockchain network and receiving address before placing the order. An ERC-20 token sent to an incompatible address, or a transfer made on the wrong network, may not be recoverable. Cash App itself warns customers that sending USDC to an unsupported asset or incompatible network can result in a permanent loss.

The same basic rule applies here: a payment balance may be familiar, but the transaction is still an onchain crypto purchase. Once the order is completed and the asset is sent to an external wallet, Cash App cannot reverse it simply because the user selected the wrong network or address.

MoonPay’s purchase guide says it works with non-custodial wallets and can help users obtain one at checkout if they do not already have one. That gives buyers more freedom over where their crypto sits. It also means the buyer, rather than Cash App, is responsible for securing wallet access and recovery information.

The final price will be set at MoonPay checkout The funding source may be Cash App, but the crypto order is still priced by MoonPay. Users should not assume that Cash App’s fee structure for Bitcoin or USDC applies to a MoonPay purchase.

MoonPay lists general fees ranging from as low as 1% for certain bank-transfer purchases to as much as 4.5% for some Visa-card transactions. Those figures are useful context, not a promised rate for the Cash App option.

The available materials do not set out one universal Cash App balance fee. The relevant price is the quote shown by MoonPay before the customer confirms the transaction, including any spread, network cost or payment-related charge.

That is where the convenience of the partnership needs to be judged. Cash App removes one step from funding a crypto purchase. It does not make the underlying asset cheaper, safer or easier to sell later.

MoonPay is trying to sit behind more ways people move money The Cash App deal fits MoonPay’s broader strategy of becoming infrastructure rather than relying only on its own consumer app. It can sit behind a wallet, a checkout page or another financial product while handling the conversion between conventional money and crypto.

MoonPay has recently taken that idea into AI tools as well. Its PayBox product lets ChatGPT and Claude initiate crypto transactions and other payments within limits chosen by the user. The product uses passkeys, permission scopes and spending caps to keep the assistant from receiving unrestricted payment authority.

The Cash App partnership follows the same logic from another direction. MoonPay does not need to own the customer’s main financial app if it can become the layer that turns that app’s balance into an onchain purchase.

Cash App has widened the door, not rebuilt the house For users, the new option makes it easier to move from a Cash App balance into assets that were previously outside the app’s native crypto offering. For Cash App, it is a way to answer demand for more choice without becoming the direct provider of every token and wallet service.

The limits of the arrangement are just as important as the expansion. Cash App remains centred on its own Bitcoin and USDC services. MoonPay handles the wider asset list, the checkout process and the delivery of crypto to an external wallet.

That gives customers more ways in. It also makes it essential to understand where Cash App’s role ends and MoonPay’s begins before pressing “buy.”

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Before SpaceX (SPCX -2.17%) went public on June 12, its founder and CEO, Elon Musk, claimed his company could generate more than $1 trillion in annual revenue by 2031. After its IPO, Musk moved that target up by a year to 2030.

To reach $1 trillion in revenue by 2030, which no company has even accomplished, SpaceX must grow its top line at a 5-year CAGR of 121.7% from its 2025 revenue of $18.67 billion. That would be an unprecedented growth rate for a company of SpaceX's size. Let's review the math behind that outlook to see if it can achieve that ambitious goal.

Image source: Getty Images.

How can SpaceX reach $1 trillion in annual revenue? SpaceX operates three main businesses: Starlink's satellite internet services, its rocket launch services, and its AI business. In 2025, Starlink generated $11.4 billion in revenue, or 61% of SpaceX's top line. It's also SpaceX's only profitable business segment.

SpaceX's rocket business, which handles its Falcon rockets and upcoming Starship, generated $4.1 billion in revenue, or 22% of its top line. Its AI segment -- which houses Grok, X, and other AI assets -- generated $3.2 billion in revenue, accounting for the remaining 17% of its top line. This is what Musk claims will happen to those three business segments over the next 5 years.

Segment

2025 Revenue

2030 Revenue (Estimated)

Starlink

$11.4 billion

$200-$250 billion

Launch

$4.1 billion

$30-$50 billion

AI

$3.2 billion

$700-$750 billion

Total

$18.7 billion

$930 billion-$1.05 trillion

Data source: SpaceX, analysts' estimates.

SpaceX expects Starlink, which already serves more than 13 million subscribers, to further expand its satellite constellation over the next five years. By doing so, it can break out of its niche as a supplementary coverage provider and evolve into a full-fledged competitor for terrestrial mobile carriers like AT&T and Verizon. It can also provide more satellite connectivity for autonomous vehicles, robots, and AI agents.

SpaceX expects its rocket launch services segment to continue growing as Starship, its largest rocket ever, secures more government contracts. It will also use Starship to launch Starlink's V3 satellites (which have more than 100x the bandwidth of its earlier satellites) and to place solar-powered orbital data centers into orbit to support its AI infrastructure business.

As for its AI business, the company expects to expand its terrestrial and orbital data centers to lock in more commercial hyperscalers. It believes it can bring 15 to 20 GW of power capacity online for those AI data centers by late 2027 or early 2028. It also plans to integrate more of xAI's native AI tools (including Grok and Cursor) into that cloud and AI ecosystem.

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But can SpaceX hit those targets? For now, analysts expect SpaceX's revenue to grow to $184.5 billion by 2028. That's a near-tenfold increase from 2025, but it would be tough to reach $1 trillion by 2030.

SpaceX's $1 trillion target seemingly assumes it will dominate the satellite internet, rocket launch, and AI markets unopposed. But in reality, it faces fierce competitors in all three markets.

AST SpaceMobile (ASTS -5.52%) is rapidly expanding its satellite constellation to support AT&T, Verizon, and other terrestrial telecom companies. Rocket Lab's (RKLB -2.98%) reusable orbital rocket business is still thriving in SpaceX's shadow. Amazon (AMZN -0.41%) is also launching its own satellites to support its cloud services and AI infrastructure.

Moreover, SpaceX's target assumes it can overcome supply chain bottlenecks in the energy infrastructure market and that the AI market will continue to expand at a breakneck pace. Rising interest rates, a market crash, or a recession before 2030 could all darken that outlook.

I'm not saying SpaceX can't reach $1 trillion in revenue by 2030. But it will be extremely difficult, and investors should be skeptical of Musk's rosy outlook -- which is generating a lot of buzz but glosses over the company's near-term and long-term challenges.

There is something unusual happening with NVIDIA Corp. (NASDAQ:NVDA): the company at the center of the artificial intelligence boom is now financing parts of the boom itself.

Nvidia has committed roughly $300 billion to AI ecosystem partners through equity investments, financing guarantees and other backstops.

• NVIDIA stock is trending lower. Why is NVDA stock trading lower?

That sounds alarming until you compare it with the cash Nvidia is expected to generate.

Bank of America analyst Vivek Arya estimates the company could produce about $470 billion in free cash flow over calendar 2026 and 2027.

That creates the central question for investors: Is Nvidia taking too much financial risk, or is Wall Street underestimating the value of controlling the entire AI ecosystem?

Bank of America thinks it is the latter.

The bank’s 12-month price target on Nvidia sits at $350, implying a 55% upside from Monday’s close.

Nvidia Is No Longer Just Selling ChipsThe market still largely views Nvidia as the dominant supplier of AI processors.

But its strategy is becoming much broader.

Nvidia is helping secure chips, data center land, electricity and the physical infrastructure needed to deploy them. This is particularly important for frontier AI companies whose balance sheets cannot support their explosive growth.

"NVDA is committed to the transformational nature of AI and to securing every input — chip supply, land, power, shell — especially for disruptive, non-investment-grade customers such as frontier labs and neo-clouds," Bank of America said.

That strategy carries an obvious risk.

If AI demand slows, Nvidia could face pressure not only on revenue growth, but also on investments tied to customers and infrastructure projects.

Yet there is another side to the equation.

Read Next

The $300 Billion Number Looks Worse Than It IsBank of America estimates that roughly $70 billion of Nvidia’s commitments are direct equity investments.

Another $230 billion consists of residual-value guarantees or financing backstops. These are not equivalent to Nvidia simply handing customers $230 billion in cash.

The distinction matters.

For the recently announced Ohio data center, Nvidia is backing up to $105 billion of financing for infrastructure leased by OpenAI.

Bank of America estimates that the initial 4.25-gigawatt site could represent roughly 1.5 million GPUs and generate $75 billion–$100 billion of free cash flow for Nvidia over the relevant product cycle.

The guarantee is capped at $105 billion.

That means the potential cash generation from the project could approach the size of the guarantee before considering future upgrades.

"GPU is fungible, protects residual value," BofA said.

In plain English, Nvidia’s chips can potentially be moved to another customer if a project fails.

That makes the financing risk different from a traditional corporate loan.

Wall Street May Be Pricing Nvidia Like a Riskier CompanyThis is where Bank of America’s valuation argument becomes striking.

Nvidia trades at about 18 times estimated calendar 2027 free cash flow and 15 times estimated calendar 2028 free cash flow.

The average for comparable AI semiconductor companies is roughly 38 times and 25 times, respectively.

Bank of America believes investors are effectively applying a heavy discount because Nvidia is using part of its cash to finance the ecosystem.

But even after applying a 50% haircut to that investment-related cash flow, the firm estimates Nvidia could be worth 50% more in calendar 2027 and 34% more in calendar 2028 under its conceptual valuation framework.

The Lever Management Could PullArya’s suggested remedy is not a product. It is buybacks.

Nvidia currently returns 50% of its free cash flow to shareholders; peers return 75% to 100%.

Raising that share, the note said, may be the most forceful answer to the earnings-quality concerns weighing on the multiple.

Bank of America reiterated Buy with a $350 price objective, built on 26 times its 2027 earnings estimate excluding cash.

Where The Street Already Sits on NVDAAccording to Benzinga analyst ratings, Nvidia holds a consensus Buy rating and an average price target of $312.81, about 37% above Monday’s $227.72.

Nvidia reports second-quarter results Aug. 26, and Bank of America expects revenue of $94 billion to $95 billion against a $91 billion guide.

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Key Takeaways McDonald's Q2 earnings beat estimates as franchised margins rose, despite a revenue miss.U.S. traffic remained weak, with value execution issues driving most of the traffic shortfall.International growth and new restaurants support MCD as U.S. initiatives take time. McDonald's Corporation (MCD - Free Report) delivered a mixed second-quarter 2026 report. Adjusted earnings beat expectations, but revenues fell short as U.S. traffic remained soft even while international comparable sales stayed positive.

The investor question now centers on whether franchised margin growth, global expansion and improving international trends can offset weaker U.S. guest counts and pressure on company-operated profitability.

MCD Earnings Beat Relies on Franchised StrengthAdjusted earnings were $3.38 per share, up 6% year over year and 1.8% above the Zacks Consensus Estimate of $3.32. Revenues rose 4% to $7.10 billion but missed the consensus mark of $7.14 billion by 0.5%.

Franchised restaurant margins increased 4.3% to $3.71 billion and represented roughly 90% of total restaurant margin dollars. Company-operated restaurant margins rose 1.8% overall, but U.S. margins fell 6% to $91 million, reflecting continued inflationary cost pressure.

McDonald’s U.S. Traffic Remains the Main Pressure PointU.S. comparable sales increased 0.8%, supported by positive average check growth and favorable product mix, but lower guest counts limited the result. Management estimated that value execution issues accounted for about two-thirds of the customer traffic shortfall versus expectations.

The weakness carried into the third quarter, with U.S. comparable sales slightly negative in July. Chipotle Mexican Grill, Inc. (CMG - Free Report) reported second-quarter comparable restaurant sales growth of 2.2%, including a 1.0% increase in transactions. Restaurant Brands International Inc. (QSR - Free Report) posted 8.5% comparable sales growth at Burger King U.S., adding competitive context to McDonald’s traffic challenge.

MCD International Sales Provide a Growth CushionInternational Operated Markets comparable sales rose 1.5%, led by Germany, Australia and the United Kingdom. International Developmental Licensed Markets increased 1.9%, with Japan leading growth while China remained a drag.

Management expects comparable sales growth in both international segments to accelerate sequentially in the third quarter and on a two-year stacked basis. That outlook gives MCD a potential offset while U.S. traffic initiatives take time to gain traction.

McDonald’s Expansion Plan Keeps 2026 Growth IntactMcDonald’s still expects to open about 2,600 restaurants in 2026, producing roughly 2,100 net additions. Net restaurant expansion is projected to contribute about 2.5% to systemwide sales growth in constant currencies, even as the 50,000-restaurant target moves to 2028.

The company continues to expect a full-year operating margin in the mid-to-high 40% range. Capital expenditures are projected at $3.7-$3.9 billion, while interest expense is expected to increase 4-6%. The outlook therefore pairs continued restaurant investment with higher financing expense.

MCD Signals Reflect a Mixed Post-Earnings SetupThe quarter leaves investors with a clear trade-off. Franchised economics and international growth remain supportive, but U.S. traffic, company-operated margins and execution are still key variables to watch.

MCD currently carries a Zacks Rank #3 (Hold), a neutral short-term signal. The VGM Score of D and Value Score of D are less supportive, while the Growth Score of C is middling. The Momentum Score of B is the strongest Style Score signal, but the overall mix does not point to a uniformly favorable setup. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways CL's Q2 revenues rose 4.9% to $5.36B, with organic sales growth in four of five divisions.Emerging markets led growth, with India up double digits and Brazil, Mexico and China also advancing.CL expects more volume-led growth as raw-material costs and tariffs rise from second-quarter levels. Colgate-Palmolive Company (CL - Free Report) delivered a solid second-quarter 2026 performance despite a volatile global operating backdrop, supported by broad-based sales growth, emerging-market momentum and resilient execution across much of its portfolio. Organic sales increased in four of its five divisions and three of its four categories, with emerging markets leading growth, with strength in India, Brazil, Mexico and China. Europe also benefited from innovation, premiumization and market-share gains, while Hill’s Pet Nutrition continued to outperform its category. However, weakness in the United States, heightened competitive activity and cautious consumer spending remain key hurdles as CL enters the second half.

CL’s second-quarter revenues totaled $5.36 billion, up 4.9% year over year, while earnings came in at 99 cents per share. Free cash flow increased 18%, helping the company return $1.4 billion to its shareholders. Gross margin expanded 100 basis points year over year and improved 90 basis points sequentially, supported by pricing, favorable mix, productivity initiatives and revenue growth management. Latin America grew about 5%, reflecting a balanced 2.8% increase in pricing and 2.6% volume growth, with Brazil advancing high single digits and Mexico growing mid-single digits. Hill’s generated roughly 4% organic growth excluding private label, despite an approximately 200-basis-point drag on volume from the private-label exit. Meanwhile, India posted double-digit growth and Greater China advanced at a mid-single-digit pace despite a challenging category environment.

Looking ahead, sustaining this momentum will depend on CL’s ability to offset softer category trends and mounting cost pressures. Management expects growth to become somewhat more volume-driven in the second half while raw-material costs and tariffs rise from second-quarter levels. The company is stepping up advertising, premium innovation and targeted pricing and promotional actions to improve its U.S. trajectory, while continuing to scale revenue growth management, Promo AI, digital capabilities and productivity programs globally. Although consumer uncertainty, geopolitical tensions and inflation could restrain category growth, CL’s geographic diversification and focus on premium products may help it outperform underlying markets and preserve earnings momentum.

CL’s Zacks Rank & Share Price PerformanceShares of this Zacks Rank #3 (Hold) company have gained 5.1% in the past year, outperforming both the industry, which fell 8.7%, and the broader Consumer Staples sector, which rose 1.6%.

CL Stock's Past Year Performance
Image Source: Zacks Investment Research

Is CL a Value Play Stock?Colgate currently trades at a forward 12-month P/E ratio of 22.61X, which is higher than the industry average of 18.12X. This valuation positions the stock at a premium relative to both its sector and industry peers, suggesting that investors may be pricing in stronger growth prospects, brand strength or operational efficiency compared with competitors.

CL P/E Ratio (Forward 12 Months)
Image Source: Zacks Investment Research

Stocks to ConsiderDarling Ingredients Inc. (DAR - Free Report) develops, produces and sells sustainable natural ingredients from edible and inedible bio-nutrients. At present, Darling Ingredients sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus estimate for Darling Ingredients’ current fiscal-year sales and earnings implies growth of 12.8% and 926.5%, respectively, from the year-ago figures. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.

The J. M. Smucker Company (SJM - Free Report) , which manufactures and markets branded food and beverage products, carries a Zacks Rank #2 (Buy) at present. SJM delivered a trailing four-quarter earnings surprise of 1.5%, on average.

 The Zacks Consensus Estimate for J. M. Smucker’s current fiscal-year earnings indicates growth of 8.9% from the year-ago figures.

US Foods Holding Corp. (USFD - Free Report) engages in the marketing, sale and distribution of fresh, frozen and dry food and non-food products to foodservice customers in the United States. It currently carries a Zacks Rank of 2. USFD delivered a trailing four-quarter earnings surprise of 1.5%, on average.

The Zacks Consensus Estimate for US Foods Holding’s current fiscal-year sales and earnings implies growth of 5.3% and 16.3%, respectively, from the year-ago figures.

Key Takeaways Caterpillar's volume growth accelerated across all three primary segments in the first half of 2026.Construction Industries led first-half volume gains, while Power & Energy benefited from data center demand.Caterpillar raised its 2026 sales growth outlook to the mid-to-high teens from low-double-digit growth. Caterpillar Inc. (CAT - Free Report) is gaining momentum with back-to-back quarters of volume-driven growth, highlighting a broad-based recovery across its key end markets. In the second quarter of 2026, sales volume increased $3.1 billion, contributing 19.9% to revenue growth in the quarter, driving sales and revenues to a record $20.5 billion.

So far in 2025, higher sales volume contributed $5.4 billion to Caterpillar’s revenues, mainly driven by higher sales of equipment to end users and the impact from changes in dealer inventories. 

This marks a significant improvement from last year. Caterpillar returned to positive volume growth with a modest increase of $237 million in the second quarter of 2025, following six consecutive quarters of declines. However, the turnaround was mainly concentrated in Power & Energy. Since the third quarter of 2025, all three primary segments have been reporting positive volume growth, with momentum building up since then.

Construction Industries has been the largest contributor to volume growth in the first half, generating a $3.2 billion increase. Growth reflected higher equipment sales to end users and favorable changes in dealer inventories. 

Power & Energy contributed approximately $1.6 billion in volume growth during the first half. Power Generation remained particularly strong, with higher sales of large reciprocating engines, turbines and turbine-related services, primarily for data center applications. Oil & Gas also benefited from increased sales of reciprocating engines for gas compression, aftermarket parts, turbines and related services.

Higher equipment sales to mining customers led to volume growth of $724 million for the Resource Industries segment.
Backed by this strengthening volume environment, Caterpillar now expects 2026 sales and revenues to increase in the mid-to-high teens, up from its previous low-double-digit growth forecast.

The Construction Industries segment is expected to benefit from increased infrastructure spending. Non-residential investment in critical infrastructure, heavy construction and data centers will also support demand. Dealer rental fleet loading is expected to increase further in 2026, including additional fleet loading for Major Projects in the third quarter.

The Resource Industries segment should benefit from positive dynamics in Heavy Construction and Quarry and Aggregates, favorable commodity prices and replacement demand for aging mining fleet.

In Power & Energy, growth is expected to remain strong in Power Generation, supported by rising electricity demand from data centers, cloud computing and generative AI. Prime power demand is also trending higher for turbines, turbine-related services and reciprocating engine products. Oil & Gas is expected to grow moderately, supported by gas-compression demand, aftermarket parts and a healthy turbine backlog.

Industry peers like Komatsu (KMTUY - Free Report) reported a 4% increase in its revenues to $6.54 billion in the quarter ended June 30, 2026. Construction, Mining & Utility Equipment sales increased 14.4%, while Industrial Machinery & Others sales rose 21.7%. 

For fiscal 2026, Komatsu expects net sales to increase 4.1%. Construction, Mining & Utility Equipment sales are projected to rise 4.3% and Industrial Machinery & Others sales will increase 5.5% year on year.

Terex (TEX - Free Report) reported a 51% year-over-year increase in second-quarter sales to $2.24 billion. Based on second-quarter performance and backlog visibility, Terex now expects 2026 sales to grow approximately 7% on a pro forma basis to $7.9-$8.2 billion.

CAT’s Price Performance, Valuation & EstimatesCAT shares have gained 53.9% so far this year compared with the industry’s 42.4% growth.

Image Source: Zacks Investment Research

Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 29.20X compared with the industry average of 26.60X. 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for CAT’s 2026 earnings indicates year-over-year growth of 39.4%. The consensus mark for revenues implies an increase of 15.5% for the year. The earnings estimate for 2027 indicates 21.7% growth, with revenues rising 10.8%.

Image Source: Zacks Investment Research

Earnings estimates for Caterpillar for both 2026 and 2027 have moved up over the past 60 days, as shown in the chart below.

Image Source: Zacks Investment Research

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

Equity-based transaction with Winklevoss Capital activates 4.2 GSol/s of live, U.S.-based hashrate; approximately 18% of the Zcash network; Industry veteran Kevin Zhang joins as Head of Mining

, /PRNewswire/ -- Cypherpunk Technologies Inc. (Nasdaq: CYPH) ("Cypherpunk") today announced the launch of Cypherpunk Mining, which is now the largest Zcash mining fleet in the world, through a $33.33 million equity-based transaction with Winklevoss Capital. The fleet is online today, with approximately 4.2 GSol/s of Equihash hashrate deployed across the United States, which currently represents approximately 18% of the total Zcash network.

"Up until now, investors have had limited options for Zcash mining exposure. With the acquisition of this mining fleet, Cypherpunk changes that," said Cameron and Tyler Winklevoss. 

With the launch, Cypherpunk now offers public market investors exposure to both Zcash mining and treasury upside and continues Cypherpunk's evolution into a diversified privacy technology company.

"Following the expansion of our ZEC treasury and investment in ZODL, Zcash mining is the next piece of the constellation of privacy technologies we're assembling," said Will McEvoy, Chief Investment Officer of Cypherpunk. "The Zcash flow from Cypherpunk Mining provides financial and operational flexibility to fund future growth, the acquisition of additional ZEC, and new privacy-preserving technology investments."

Through this transaction with Winklevoss Capital, Cypherpunk Mining immediately becomes the Zcash network's largest active fleet, currently deployed across U.S.-based facilities with industry-leading uptimes and hosting rates, accessing an addressable market valued at over $250 million per year at current ZEC prices.

Strengthening Cypherpunk's Treasury and the Zcash Network

Cypherpunk Mining now stands alongside Cypherpunk's ZEC treasury and its privacy investment strategy anchored by ZODL, the most widely used Zcash wallet. As approximately 43,800 ZEC are awarded to miners each month, mining meaningfully accelerates the company's path to its target of holding 5% of ZEC supply, at production costs that are significantly lower than spot price. 

As the largest corporate holder of ZEC, currently with 323,394.38 ZEC representing approximately 1.92% of the circulating supply, Cypherpunk's incentives are aligned with the network's. The additional mining hashrate and decentralization strengthens Zcash network security, and a more secure Zcash makes Cypherpunk's treasury more valuable. Cypherpunk intends to serve as a bridge between Zcash miners, developers, and the broader ecosystem.

Kevin Zhang Joins as Head of Mining

Kevin Zhang joins Cypherpunk as Head of Mining, bringing more than a decade of experience at the front lines of Bitcoin and Zcash. Zhang began mining Bitcoin in 2014 and Zcash in 2016, built several of the largest Bitcoin mining facilities in North America, and in 2019 led the first power plant conversion to Bitcoin mining on the continent. At Foundry, he built the largest Bitcoin mining pool in the world and deployed one of the largest crypto mining operations.

"Approximately 1,440 ZEC is awarded to miners each day, making Zcash mining highly profitable. Even if the Zcash network hashrate increases significantly, Zcash mining still out-earns AI colocation and Bitcoin mining at today's ZEC prices," said Kevin Zhang, Head of Mining at Cypherpunk. "The opportunity in Zcash mining shows a striking similarity to Bitcoin mining in 2016 and provides exciting growth potential for Cypherpunk."

Description of the Transaction

Cypherpunk and Cypherpunk Mining LLC ("Cypherpunk Mining") entered into an Asset Purchase Agreement with Moria Mining LLC and Winklevoss Treasury Investments, LLC pursuant to which Cypherpunk Mining acquired the latest generation Z15 Pro machines with an aggregate hashpower of approximately 4.2 GSol/s along with their related hosting agreements. The aggregate purchase price of $33.33 million was paid for by the issuance of a pre-funded warrant to Winklevoss Treasury Investments, LLC to purchase 43,290,042 shares of common stock of Cypherpunk at an exercise price of $0.001 per share, reflecting a Cypherpunk common stock purchase price of $0.77 per share.

About Cypherpunk

Cypherpunk Technologies is a privacy technology company. The Company's mission is to advance technologies that guarantee privacy for humans on the internet. Cypherpunk pursues this mission through two primary strategies: accumulating Zcash (ZEC); and investing in, acquiring, and building technologies that push the frontier of privacy forward. Additionally, through its subsidiary Leap Therapeutics, the Company is developing novel therapies for patients with cancer, continuing the development of sirexatamab and FL-501. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov. 

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to the Company's ZEC mining operations, the hashpower represented by the acquired Z15 Pro machines, the potential Zcash flow or profitability of the Company's mining operations, the comparative economics or profitability of Zcash mining relative to other digital infrastructure or mining activities, the future hashrate of the Zcash Network, the value of the Company's ZEC holdings, the Company's target percentage ownership of the ZEC supply, the expected future market, price, and liquidity of ZEC, the Company's expected use of Zcash flow or other capital generated by its mining operations, the potential value of the Company's investment in Zcash Open Development Labs ("ZODL"), the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the Company's strategy include, among others: (a) risks relating to the Company's operations and business, including the performance of the Company's Zcash mining machines and highly volatile nature of the price of ZEC; (b) the risk that material changes in the price of ZEC, such as decreases in price, will result in significant changes to the Company's financial statements, such as unrealized losses on fair value of ZEC holdings, and reduced net income or increased net loss; (c) the risk that material changes in the hashrate of the Zcash Network, such as increases in hashrate, will result in significant changes to the Company's financial statements, such as reduced revenue, reduced gross margins, and reduced net income or increased net loss; (d) the risk that the price of the Company's common stock may be highly correlated to the price of ZEC; (e) the risk that the Company will fail to realize the anticipated benefits of the ZEC mining operation or digital asset treasury strategy; (f) risks related to the custody of our ZEC and our reliance on Gemini Space Station and its affiliates for trading and custody services; (g) changes in business, market, financial, political and regulatory conditions; (h) risks related to increased competition in the industries in which the Company does and will operate; (i) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; (j) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; (k) risks related to the Company's dependence on third-party hosting facilities and service providers for its mining operations; and (l) the Company's ability to comply with the continued listing requirements of the Nasdaq Capital Market.

New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.

CONTACT:
Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360

For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
[email protected]

For Media:
Jacqueline Ortiz Ramsay
It Factor Strategies
954-294-3249
[email protected]

SOURCE Cypherpunk Technologies Inc.

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Micron Technology (NASDAQ:MU | MU Price Prediction) closed the most recent session at $1,011.75, capping a 254.71% year-to-date run driven by an AI memory cycle that CEO Sanjay Mehrotra called a structural transformation of the industry.

Our 24/7 Wall St. price target for Micron is $964.63, implying -0.72% from here, and our recommendation is hold with high conviction.

24/7 Wall St. Price Target Summary Metric Value Current Price $1,011.75 24/7 Wall St. Price Target $964.63 Upside/Downside -0.72% Recommendation HOLD Confidence Level 90% Why We Could Be Wrong Our 24/7 Wall St. price target of $964.63 sits just below current levels. Real upside could come from 16 Strategic Customer Agreements locking in roughly $100 billion of minimum-priced revenue, or from HBM4 ramping twice as fast as HBM3E. Consensus analyst targets sit far higher.

A 254% YTD Run, Then a Cooldown Micron has climbed 738.41% over one year and 17.51% in the past week, but shares sit about 20% below the 52-week high of $1,254.81.

Q3 FY26 results showed memory’s AI leverage: revenue of $41.46 billion beat consensus by 17.60%, non-GAAP EPS of $25.11 beat by 23.79%, and GAAP gross margin expanded to 84.6% from 37.7% a year earlier. Q4 guidance calls for record revenue of $50 billion and EPS of $31.

The Case for $1,500+ Bulls have real ammunition. The average analyst price target sits at $1,501.98, backed by 9 strong buy and 31 buy ratings against zero sells. The forward P/E on trailing consensus is just 6, a valuation that assumes memory profits collapse rather than compound.

Mehrotra told analysts floor prices in SCAs deliver “a very robust gross margin for Micron, well above our peak quarterly margins in any past cycle.”

Data center revenue already exceeds $25 billion quarterly, Micron has shipped over $1 billion in HBM4 revenue, and management sees tight supply persisting beyond calendar 2027. Our bull-case scenario points to $1,334.11 over 12 months.

What Could Go Wrong Memory cycles are memory cycles. CapEx of $7.83 billion in a single quarter and full-year fiscal 2026 spending near $27 billion leave little margin for demand slippage. Beta of 2.213 means a broad AI de-rate cuts deeper here than most names.

Our bear scenario targets $705.83. Counterfactual: much of that CapEx funds the Idaho and New York fabs plus $18 billion in customer cash deposits that offset the spend.

How Micron Compares to Western Digital and Sandisk Western Digital (NASDAQ:WDC) is the cleanest HDD-only peer, riding the same hyperscaler storage buildout. WDC trades at a trailing P/E of 15 and forward P/E of 18, with Q4 revenue of $2.6B up 9% YoY.

SanDisk (NASDAQ:SNDK) is the pure-play NAND comparable. Sandisk trades at a forward P/E of 26 with an analyst target of $2,107.70. Micron’s forward P/E of 6 is a fraction of both, which explains the analyst-versus-model gap. The peer group makes our 24/7 Wall St. price target look conservative on multiples but appropriate given cycle risk.

Company Forward P/E Trailing P/E Micron 6 22 Western Digital 18 15 Sandisk 26 22 Micron Price Prediction 2026-2030 The 24/7 Wall St. price target is $964.63, recommendation hold, confidence 90%. A pullback toward $850 would look more attractive if HBM4 yields and SCA cash deposits keep landing on schedule. The setup weakens if hyperscaler CapEx guides soften into 2027.

Year 24/7 Wall St. Price Target 2026 $965 2027 $1,050 2028 $1,120 2029 $1,180 2030 $1,250 These projections assume Micron executes on its SCA-backed pricing framework and HBM roadmap. Meaningful upside toward the bull scenario of $2,058.69 by 2031 depends on tight supply persisting.

Contact [email protected] for any questions or corrections.

Key Takeaways COIN entered prediction markets through Kalshi, adding event contracts across sports, politics and more.Prediction markets could reduce Coinbase Global's dependence on crypto volumes tied closely to asset prices.COIN acquired The Clearing Company to build scalable prediction-market infrastructure. For Coinbase Global (COIN - Free Report) , prediction markets are emerging as a new growth pillar, expanding the company’s addressable market and accelerating its transition into an “everything exchange.” Coinbase entered the prediction-market space in November 2025 through a partnership with Kalshi, a regulated U.S. exchange that enables users to trade on outcomes of real-world events, including elections, inflation, sports and scientific developments.

Prediction-market volumes have surged amid rising retail participation, sports-related activity, political events and demand for real-time information. As event contracts can generate trading activity regardless of cryptocurrency-market direction, they could reduce Coinbase’s dependence on crypto trading volumes, which remain highly correlated with asset prices.

Prediction markets also reinforce Coinbase’s “everything exchange” flywheel. Through a single account, customers can hold cash and USDC, trade cryptocurrencies, equities and derivatives, and express views on real-world outcomes.

To strengthen its position, Coinbase acquired The Clearing Company, a prediction-market specialist, bringing dedicated product and growth expertise in-house. The acquisition should accelerate Coinbase’s product roadmap and support the development of regulated, scalable prediction-market infrastructure, rather than leaving the company solely dependent on third-party distribution.

Although still at an early stage, prediction markets provide Coinbase with an attractive entry into the fast-growing event-based trading market. Over time, the segment could increase trading frequency, diversify revenues, improve customer retention and establish Coinbase as a single destination for multiple financial markets.

What About COIN’s Peers?Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.

Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.

COIN’s Price PerformanceShares of COIN have lost 34.9% in the year-to-date period, underperforming the industry.

Image Source: Zacks Investment Research

COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 67.03, significantly above the industry average of 16.69.

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Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed southbound movement in the last 30 days. The same holds true for 2026 and 2027.

Image Source: Zacks Investment Research

The consensus estimates for COIN’s 2026 revenues and earnings indicate year-over-year decreases. Nonetheless, the consensus estimates for 2027 revenues and earnings imply year-over-year increases.

COIN stock currently carries a Zacks Rank #5 (Strong Sell).

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

Key Takeaways AON launched Sidecar X with up to $200 million for representation, warranties and tax insurance.AON's M&A pipeline rose 60% in announced transaction volumes, supporting its 2026 outlook.Sidecar X aims to speed up coverage for larger, complex deals while offering clients a 10% premium discount. Aon plc (AON - Free Report) recently launched Sidecar X, an expanded version of its Sidecar platform, to connect insurance capital with complex transaction risks. The platform provides up to $200 million of capacity for representation and warranties and tax insurance.

It has built pre-agreed underwriting and claims frameworks into the offering, reducing the need to negotiate terms from scratch for each placement. The platform combines insurer capital with Aon’s proprietary analytics and market expertise. Sidecar X is available exclusively to Aon’s clients across markets, including the United States, Canada, the UK, EEA and Asia, covering representations and warranties and tax insurance.

The launch addresses a problem in transaction insurance as deals are becoming larger and more complex, while insurers and capital providers are becoming more selective. Sidecar X gives a dedicated capacity that can help clients secure coverage more efficiently for these transactions. The biggest benefits include speed and certainty. Aon is also offering clients a 10% premium discount, which could make insurance attractive in deal processes.

On the second-quarter earnings call, AON pointed out that its M&A pipeline had increased 60% in announced transaction volumes, which management expects to be a tailwind in the second half of 2026. Its Risk Capital revenues rose 5% to $3 billion in the second quarter, while total revenues increased 2% to $4.25 billion.

Sidecar X should support Aon’s transaction business by improving its ability to place larger and more complex risks. The headline capacity expands the risk that Aon can help clients insure, while the premium discount could encourage greater usage. Faster execution may improve Aon’s competitiveness in time-sensitive M&A transactions. For Aon, the opportunity is potentially higher transaction volumes and deeper client engagement strategically.

Price PerformanceAON shares have declined 1.6% in the year-to-date period compared with 3.8% fall of the industry.

Image Source: Zacks Investment Research

Zacks Rank & Key PicksAON currently has a Zacks Rank #3 (Hold). Investors interested in the broader Finance space may look at some better-ranked players like Horace Mann Educators Corporation (HMN - Free Report) , CNO Financial Group, Inc. (CNO - Free Report) and Ategrity Specialty Insurance Company Holdings (ASIC - Free Report) . While Horace Mann Educators currently sports a Zacks Rank #1 (Strong Buy), CNO Financial and Ategrity Specialty have a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Horace Mann Educators’ current-year earnings is pegged at $4.78 per share, which has witnessed two upward revisions over the past 30 days and no movement in the opposite direction. Furthermore, the consensus estimate for HMN’s 2026 revenues indicates a 3.9% year-over-year increase.

The consensus mark for CNO Financial’s current-year earnings is pegged at $4.74 per share, which indicates 16.2% year-over-year growth. It has witnessed two upward estimate revisions against none in the opposite direction in the past 30 days. CNO beat earnings estimates in each of the last four quarters, with an average surprise of 23.2%.

The Zacks Consensus Estimate for Ategrity Specialty’s current year earnings is pegged at $2.16 per share, which indicates 34.2% year-over-year growth. It has witnessed one upward estimate revision against none in the opposite direction in the past month. ASIC beat earnings estimates in the last four quarters, with an average surprise of 30.2%.

Key Takeaways Northrop Grumman is strengthening military training with virtual, live and immersive solutions.NOC's on-demand LVC framework supports training for fifth-generation F-35 and fourth-generation F-16 jets.NOC's secure cross-domain expertise supports connected training across multiple military services. Northrop Grumman Corporation (NOC - Free Report) is strengthening its position in the growing military training and simulation market with advanced virtual, live and immersive training solutions. As military forces worldwide prepare for increasingly complex threats, demand for realistic, technology-driven training systems is rising. Northrop Grumman’s capabilities help warfighters improve mission readiness while providing cost-effective solutions to prepare for challenging operational environments.

A key area of focus is the company’s Live, Virtual and Constructive (LVC) training capabilities, which combine live exercises with virtual and computer-generated environments. Northrop Grumman also offers its Combat Electromagnetic Environment Simulator, which provides warfighters with realistic training against complex electromagnetic threats. These solutions enable military customers to conduct sophisticated training without relying entirely on costly live exercises, supporting more efficient and flexible mission preparation.

Notably, Northrop Grumman’s on-demand LVC training framework is integrated into training for both fifth-generation F-35 and fourth-generation F-16 fighter aircraft. The company also has experience integrating platforms into secure cross-domain environments spanning multiple military services. This expertise allows Northrop Grumman to support increasingly connected training environments and strengthens its competitive position as defense forces adopt advanced simulation and mission-readiness technologies.

As global defense spending increases and militaries focus on preparing for more advanced threats, demand for military training and simulation solutions is expected to remain strong. Northrop Grumman’s LVC capabilities, immersive training technologies and experience with secure, cross-domain environments position it well to benefit from the long-term expansion of the military training market.

Other Defense Companies Benefiting From Training DemandOther defense companies that are likely to benefit from the expanding military training and simulation market are discussed below:

Lockheed Martin Corporation (LMT - Free Report) : Its Close Combat Tactical Trainer (CCTT) is the U.S. Army’s first and largest distributed interactive simulation system. The platform enables military units to train and validate tactics, doctrine, weapons systems, mission planning and mission rehearsals in a simulated environment.

RTX Corporation (RTX - Free Report) : Its high-fidelity simulation and training solutions support military readiness by combining advanced avionics expertise with training technologies. Its integrated simulators can blend real and virtual environments, helping military personnel prepare for complex missions in a cost-effective manner.

The Zacks Rundown for NOCShares of NOC have surged 8.9% in the past month compared with the industry’s 9.7% growth.

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The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.77X compared with its industry’s average of 2.68X.

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The Zacks Consensus Estimate for NOC’s 2026 and 2027 earnings has moved north over the past 60 days.

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Key Takeaways WRB's Insurance segment generated $11.18 billion in 2025 net premiums written, up from 2024. The Insurance segment's 91.7% combined ratio in 2025 reflected strong underwriting profitability. WRB combines underwriting earnings with investment income to support profitable growth and returns. W. R. Berkley Corporation (WRB - Free Report) , one of the nation’s largest commercial lines property and casualty insurance providers, offers a variety of insurance services, from reinsurance to workers’ comp third-party administrators across the United States. The insurance segment is W.R. Berkley’s core earnings engine, generating the majority of its premiums and underwriting income.

In 2025, the segment generated $11.18 billion in net premiums written, up from $10.55 billion in 2024. Its 91.7% combined ratio reflected strong underwriting profitability.

The segment continued to perform well in the first half of 2026, with net premiums written rising 3.4% year over year.

W.R. Berkley’s Insurance segment is the company’s primary revenue-generating business, as it provides a broad range of property and casualty insurance products to commercial customers. The segment earns revenues primarily by collecting premiums from policyholders in exchange for providing coverage against various risks.

A key advantage of the Insurance segment is its focus on disciplined underwriting and specialized risk selection, which enables Berkley to pursue premium growth while maintaining underwriting profitability rather than relying solely on higher policy volumes to increase revenues.
The Insurance segment supports Berkley through two complementary channels: underwriting earnings from insurance operations and investment income from investing premiums before claims are paid. The combination of underwriting income and investment income supports WRB’s ability to generate attractive returns on equity.

Overall, the Insurance segment aids W.R. Berkley by generating substantial premium revenues, producing underwriting profits through disciplined risk selection and creating investable funds that generate additional investment income. This combination helps WRB achieve profitable growth and strengthens its overall earnings base.

What About Its Peers?Axis Capital Holdings Limited (AXS - Free Report) , a global specialty underwriter, has a strategic focus on specialty products, including professional liability, cyber insurance, marine and aviation. AXS has been witnessing an increase in its top line over a considerable period of time on the back of higher net premiums. Its well-performing Insurance segment largely contributes to improving premiums. It continues to boost shareholder value through stock buybacks and dividend hikes.

Palomar Holdings, Inc. (PLMR - Free Report) has been displaying a good track record of net written premiums due to increased volume of policies written across the lines of business, driven by new business generated with existing partners, strong premium retention rates for existing business, expansion of its products’ geographic and distribution footprint, and new partnerships. Backed by sustained operational performance, the company has maintained a solid capital position.

WRB’s Price PerformanceShares of WRB have lost 2.5% in the past year against the industry’s growth of 4.3%.

Image Source: Zacks Investment Research

WRB’s Expensive ValuationThe stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.63, higher than the industry average of 1.42.

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Estimate Movement for WRBThe Zacks Consensus Estimate for WRB’s third-quarter 2026 EPS has moved down 0.9%, while the same for fourth-quarter 2026 EPS has moved up 1.7% in the past 60 days. The same for full-year 2026 EPS has moved up 3.4%, while the same for 2027 EPS has moved down 0.2% in the past 60 days.

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

Image Source: Zacks Investment Research

WRB stock 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 PPL generated $1.14B in operating cash flow in H1 2026, up 2.24% year over year. PPL plans about $23B in regulated investments through 2029, supporting 10.3% annual rate base growth. PPL expects 2026 EPS of $1.90-$1.98 and 6-8% annual EPS growth through 2029, stronger from 2027. PPL Corporation’s (PPL - Free Report) cash generation is improving, supported by higher earnings and operating performance. This provides greater financial flexibility and helps the company support its ongoing investments in infrastructure and system modernization.

In the first six months of 2026, PPL generated $1.14 billion of operating cash flow, up 2.24% from $1.12 billion in the year-ago period. PPL’s operating cash flow increased 4.67% sequentially to approximately $583 million in the second quarter of 2026 compared with $557 million in the first quarter.

PPL needs to spend heavily over several years to modernize its grid, improve reliability, connect new customers and meet rising electricity demand. These investments are important for supporting long-term growth and maintaining the quality of its regulated utility operations.

PPL aims to invest approximately $23 billion in regulated capital investments through 2029, supporting average annual rate-base growth of 10.3%. Its growing Pennsylvania and Kentucky investment opportunities could also expand the regulated asset base and support future cash generation. The company expects earnings per share (EPS) of $1.90-$1.98 in 2026 and 6-8% annual EPS growth through 2029, with stronger growth beginning in 2027.

Operating cash flow can partially fund PPL’s capital spending, providing an internal funding source while reducing reliance on external financing. This can help limit immediate debt increases and shareholder dilution.

Higher Cash Flow Supports Sustainable Utility GrowthStronger operating cash flow gives utilities more internal funding for grid upgrades, renewable projects, maintenance and dividends, reducing reliance on external financing. With utilities requiring heavy, recurring capital investment, dependable cash generation can support infrastructure expansion while preserving financial flexibility.

Exelon Corporation (EXC - Free Report) produced $3.67 billion in operating cash flow during first-half 2026, up 35% year over year, strengthening funding capacity for regulated transmission and distribution investments.

NextEra Energy (NEE - Free Report) generated $7.27 billion in operating cash flow during first-half 2026, rising about 22% year over year and supporting substantial ongoing utility capital investments.

The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.32%, respectively.

Image Source: Zacks Investment Research

Debt to CapitalPPL's debt-to-capital ratio currently stands at 57.46%, lower than the electric power industry’s 61.32%.

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PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 2.9% against the industry’s 2.5% decline.

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PPL’s Zacks Rank

Solana just posted its busiest week on record. The network processed 1.2 billion non-vote transactions in the seven days ending August 10, 2026, the first time it has ever crossed the one-billion mark in a single week.

That number matters because of what it excludes. Non-vote transactions strip out the routine consensus messages that validators exchange to agree on the state of the chain. What’s left is actual user activity: token swaps, DeFi protocol interactions, NFT trades, and every other thing a real person or application asks the network to do.

A week of back-to-back records The weekly total was itself a product of two daily records set within six days of each other. On August 4, Solana processed 169.9 million non-vote transactions, which stood as the all-time daily high for about a week. Then August 10 arrived and pushed that to 171.9 million, a rate of roughly 1,990 transactions per second sustained across the entire day.

The engine behind the jump is a technical upgrade that increased the maximum compute limit per block by 66%. Compute units on Solana are roughly analogous to gas on Ethereum: they measure how much computational work a block can contain. Raising that ceiling by two-thirds means more instructions can be packed into each block without stretching out block times, which allows transaction throughput to climb without degrading the user experience on the other end.

Institutional money is paying attention too The same day Solana set its daily transaction record, US spot Solana ETFs pulled in $8.8 million in net inflows. Every dollar of that went to the Bitwise BSOL fund, according to data from August 10.

For developers building on Solana, the compute limit increase has a direct practical consequence: applications that previously had to split complex operations across multiple transactions may now be able to consolidate them into fewer steps. That matters for user experience in DeFi protocols, where multi-step interactions are a persistent friction point.

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

Fireblocks just made it a lot easier for merchants to say yes to stablecoin payments. The digital asset infrastructure company unveiled Fireblocks Flow at Money20/20 Europe in Amsterdam on June 2, a product built specifically for payment service providers and fintechs that want to accept digital assets without rebuilding their entire stack.

The centerpiece of the announcement is Flow Analytics, a real-time data layer powered by Dynamic.xyz that gives merchants granular visibility into stablecoin transactions as they happen.

What Fireblocks Flow actually does Flow collapses those steps into a single integration. Merchants can accept payments from over 800 wallets spanning EVM chains, Solana, and Bitcoin networks. Customers pay in whatever digital asset they prefer, and the merchant receives settlement in their chosen stablecoin. The conversion and routing happen under the hood.

Dynamic.xyz, a Fireblocks subsidiary, provides the underlying infrastructure. Its APIs and developer tools handle wallet connectivity, while its dashboards power the Flow Analytics layer. That analytics component delivers transaction lists, aggregated data, and real-time insights, giving payment providers the kind of operational visibility they’d expect from any mature payment rail.

Flutterwave signs on as launch partner Flutterwave, one of Africa’s most prominent payment companies, will integrate Flow’s stablecoin acceptance capabilities into its own platform.

Scale and institutional context Fireblocks has facilitated over $14 trillion in cumulative digital asset transactions across its platform.

The 800-plus wallet support is worth pausing on. Most stablecoin payment solutions force customers into a narrow set of wallets or chains. By supporting a broad range of ecosystems, Flow reduces the chance that a customer arrives at checkout with an incompatible wallet.

What this means for the payments landscape The analytics layer could prove to be Flow’s most durable competitive advantage. Real-time transaction data isn’t just a nice feature for merchants. It’s the foundation for compliance monitoring, fraud detection, and business intelligence. By embedding analytics directly into the payment flow rather than offering it as an afterthought, Fireblocks is making the case that stablecoin payments can meet the same operational standards as traditional card processing.

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

Key Takeaways Analog Devices' Industrial revenues jumped 56% year over year to $1.80 billion in fiscal Q2 2026.ADI's automation, energy, healthcare and other industrial businesses grew more than 40% in the first half.ADI expects mid- to high-single-digit sequential Industrial growth in fiscal Q3 2026. Analog Devices’ (ADI - Free Report) Industrial segment is emerging as a key driver of its growth, supported by both a cyclical recovery and powerful secular trends. Industrial revenues rose 56% year over year to $1.80 billion in second-quarter fiscal 2026, accounting for 50% of total company revenues. For the first six months, Industrial revenues increased 48% to $3.30 billion.

The segment benefits from broad exposure across automated test equipment, aerospace and defense, automation, electronic test and measurement, sustainable energy, healthcare and broad-market industrial applications. Management noted that automation, ETM, sustainable energy, healthcare and broad-market businesses collectively grew more than 40% in the first half of fiscal 2026, while remaining below prior-cycle highs with lean channel inventories.

Automation is benefiting from factory modernization, robotics and reshoring, while energy demand is supported by grid modernization and electrification. Healthcare is also delivering double-digit growth as ADI expands into wearable and outpatient applications. Management expects Industrial to maintain above-seasonal growth, with mid- to high-single-digit sequential growth projected for fiscal third-quarter 2026.

ADI’s portfolio of high-performance sensing, signal chain, power management and connectivity supports the shift toward digital factories and next-generation robots across semiconductor fabs, biopharma and data centers. For the third quarter, management expects Industrial to grow mid- to high-single digits sequentially at the midpoint of guidance, which anchors a continued recovery.

Given Industrial’s 15- to 20-year average product lifecycles and above-corporate profitability, this mix can support durable margins as volumes normalize in the upcoming quarters. However, ADI faces competitive pressure from large semiconductor companies in this sphere.

How Competitors Fare Against ADIAnalog Devices competes with Texas Instruments (TXN - Free Report) and STMicroelectronics (STM - Free Report) in the Industrial segment. Texas Instruments competes with ADI in industrial signal chains, precision sensing and power management, especially in PLCs, factory automation and motor control. STMicroelectronics competes in industrial MCUs, motor drivers, sensors and automation systems.

In the robotics space, STMicroelectronics provides sensors, motor control ICs and power management for cobots, AMRs and humanoid robots. In automation, Texas Instruments provides low-power precision analog and sensing for medical imaging, patient monitoring and diagnostics.

Both STMicroelectronics and Texas Instruments compete with ADI in the aerospace and defense business through their radiation-hardened analog and mixed-signal ICs, secure communications and avionics systems.

ADI’s Price Performance, Valuation and EstimatesShares of ADI have gained 43.9% year to date compared with the Semiconductor - Analog and Mixed industry’s growth of 42.7%.

ADI YTD Performance Chart
Image Source: Zacks Investment Research

From a valuation standpoint, ADI trades at a forward price-to-sales ratio of 11.64X, higher than the industry’s average of 8.68X.

ADI Forward 12-Month (P/S) Valuation Chart
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The Zacks Consensus Estimate for ADI’s fiscal 2026 earnings implies year-over-year growth of 59%. The consensus estimate for fiscal 2026 has been revised downward by a penny in the past 30 days.

Image Source: Zacks Investment Research

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

Key Takeaways Opendoor reached about 700 weekly purchase contracts, its strongest tally in years.Second-quarter acquisition contracts rose to 6,908 as marketing spending fell to just $5 million.OPEN expects a 4%-4.5% contribution margin as seasonal pressure remains. Opendoor Technologies Inc. (OPEN - Free Report) is showing a sharp pickup in acquisition activity even as the broader housing market remains challenging. On its second-quarter 2026 earnings call, management said the company is signing more than 500 home purchase contracts per week, with the prior week reaching around 700, its strongest weekly tally in years and more than five times the level seen a year ago.

The weekly numbers build on a strong second quarter. Opendoor generated 6,908 acquisition contracts, up from 5,136 in the first quarter. Homes purchased rose 77% sequentially and 149% year over year to 4,378, while the company ended the quarter with 2,310 homes under contract to purchase, compared with 393 a year earlier. More importantly, the higher volume came with far lower marketing spending. Opendoor spent just $5 million on marketing while producing more than 6,900 acquisition contracts. Management also said seller conversion improved significantly at comparable spreads, suggesting the company is not simply buying higher volume by taking on more pricing risk.

Seasonality remains a hurdle. Historically, Opendoor’s contribution margin has fallen sharply between the second and third quarters, with the average decline approaching 500 basis points excluding 2023. For third-quarter 2026, management expects a contribution margin of about 4%-4.5%, while revenues are expected to grow at least 20% year over year and contribution profit to more than double.

For now, the roughly 700-contract week suggests Opendoor’s turnaround is gaining operating momentum despite a difficult housing market. Still, acquisition contracts do not all translate into completed purchases. If volumes remain above the roughly 6,000-per-quarter level in management’s profitability framework while conversion, margins and cost discipline hold, the acceleration could become an important bridge from turnaround to sustained profitability.

Opendoor’s Competitive Landscape: Compass & RocketOpendoor’s accelerating contract volume comes as other real estate technology players are also emphasizing scale, conversion and operating efficiency. Compass, Inc. (COMP - Free Report) is pursuing a brokerage-led platform strategy rather than principal home buying. In the second quarter of 2026, Compass generated $4.3 billion in revenues and $363 million in adjusted EBITDA, while brokerage transactions rose 7.4% year over year versus 3.5% for the broader market. It also actioned its $300 million first-year cost-synergy target five months early.

Rocket Companies, Inc. (RKT - Free Report) offers another increasingly relevant comparison as it builds a broader homeownership ecosystem around mortgage origination, servicing and Redfin. Rocket posted $2.8 billion in adjusted revenues and $766 million in adjusted EBITDA in the second quarter of 2026, while purchase market share rose to a record 6.2% and refinance share reached 14.3%. More than 70% of revenues now come from recurring or less rate-sensitive businesses, helping reduce dependence on mortgage-rate cycles.

Overall, Opendoor currently stands out for combining faster contract growth with sharply lower marketing intensity.

OPEN’s Stock Price Performance, Valuation & EstimatesShares of Opendoor have lost 23.9% in the past six months, underperforming the Zacks Internet - Software industry, the broader Zacks Computer and Technology sector and the S&P 500 Index.

OPEN’s Six-Month Price Performance

Image Source: Zacks Investment Research

From a valuation standpoint, OPEN stock trades at a forward price-to-sales (P/S) multiple of 0.54, significantly below the industry’s average of 4.08.

P/S (F12M)

Image Source: Zacks Investment Research

OPEN’s estimates for 2026 indicate a loss of 12 cents per share, while those for 2027 point to earnings. Over the past 30 days, the 2026 estimates have remained unchanged, whereas those for 2027 have moved from breakeven to earnings of 1 cent per share.

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Duolingo
DUOL +7.54% 72

drew an upgrade to Buy from Neutral at DA Davidson, which set a $160 price target. Duolingo shares were up 4.49% premarket.

The argument is that investors are undervaluing product work, marketing changes and continued refinement of the monetization engine. DA Davidson expects daily active user growth to keep accelerating and bookings to converge with it. It also concedes the market has priced the risks around user deceleration and monetization effectively until now, but says Duolingo is nearing a turning point. The stock has fallen 65% over the past year.

The upgrade follows second-quarter results that beat on both lines, with adjusted earnings of $0.66 per share on revenue of $298.45 million against estimates of $0.58 and $295.44 million. Daily active users rose 23%, faster than the prior quarter, and Duolingo lifted its full-year adjusted EBITDA margin outlook to 26.5% from 25%.

UBS raised its price target to $150 after the print, while Scotiabank cut to $120 on a soft third-quarter revenue forecast.

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DUOL

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Clear Street, a regulated financial infrastructure firm headquartered in New York, has joined the XDC Network as an institutional-grade Masternode Validator. The move plants a Wall Street-adjacent firm directly into the consensus layer of a blockchain purpose-built for trade finance and real-world asset tokenization.

Clear Street will handle block validation, ledger maintenance, and network governance, functions that are foundational to how the chain operates and secures itself.

Why Clear Street matters Clear Street serves over 700 institutional clients, with customer balances approximating $16 billion. Its daily trading volumes sit around 550 million shares, representing roughly $28.4 billion in notional value per day. The company employs approximately 800 people and has raised roughly $1 billion in capital.

XDC Network co-founder Ritesh Kakkad framed the partnership in geographic terms.

“Clear Street joining as an institutional validator advances our push to deepen XDC Network’s presence in the United States.”

A growing roster of heavyweight validators Clear Street is far from the first institutional name to take on this role. The XDC Network’s validator set already includes Animoca Brands, which joined on May 19, 2026, and Republic, which came aboard earlier in May. Other validators in the network’s institutional roster include Deutsche Telekom, SBI Holdings, HashKeyCloud, and UOB Venture Management.

The XDC Network itself is an open-source, EVM-compatible Layer-1 blockchain. It runs on XDPoS 2.0, a delegated proof-of-stake consensus mechanism. Being EVM-compatible means developers familiar with Ethereum’s tooling can build on it without learning a new stack.

What this means for institutional blockchain adoption In proof-of-stake networks, validators are responsible for confirming transactions, maintaining the integrity of the ledger, and participating in governance decisions that shape the network’s future. When those entities are regulated financial firms with billions in client assets, the network’s risk profile changes in the eyes of institutional compliance teams.

A compliance officer at a major bank evaluating whether to use a blockchain for settlement will look at who is running the infrastructure. If the answer is a collection of anonymous node operators, the conversation ends quickly. If the answer includes Deutsche Telekom, SBI Holdings, and Clear Street, it continues.

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

Key Takeaways Onto Innovation bought a 27% Rigaku stake for about $720M to advance next-gen X-ray process control.ONTO sees a roughly $1B semiconductor X-ray market as 3D transistor and packaging complexity increases.ONTO's Rigaku gains depend on joint development, customer qualification and adoption, not immediate revenue. Onto Innovation Inc. (ONTO - Free Report) completed its approximately $720 million purchase of a 27% minority stake in Rigaku Holdings on Aug. 10, 2026. The investment is intended to accelerate joint development of next-generation X-ray process-control technology for semiconductor manufacturing.

The strategic question is how much this capability can expand ONTO's opportunity set as transistor and packaging structures become more complex. The potential is meaningful, but gains will depend on execution, qualification and customer adoption.

ONTO Adds X-Ray to Its Process-Control PortfolioRigaku gives ONTO access to X-ray technologies that complement its optical process-control tools. Management sees the combination as relevant for complex 3D transistor and advanced-packaging structures, broadening the company's reach across optical, materials, X-ray, inspection and lithography technologies.

KLA Corporation (KLAC - Free Report) supplies semiconductor inspection and metrology systems for chip, substrate and advanced-packaging manufacturing. Nova Ltd. (NVMI - Free Report) provides material, optical and chemical metrology and process-control solutions, including X-ray fluorescence. Their portfolios frame the competitive setting as ONTO expands its measurement capabilities.

Rigaku Expands ONTO's Served MarketManagement estimates the semiconductor X-ray technology market at roughly $1 billion. It expects adoption to increase as more complex 3D transistor and packaging structures create demand for additional process-control techniques.

Customer response to the Rigaku collaboration has been positive. ONTO sees potential benefits from software licensing, additional metrology-tool opportunities and dividend income, but those outcomes remain prospective and depend on successful product development and commercialization.

ONTO Entered the Deal With Ample LiquidityONTO ended the second quarter with $1.88 billion of cash and short-term investments. The balance sheet had been strengthened by a $1.5 billion 0% convertible-note offering due in 2031.

The financing generated about $1.2 billion of net cash after share repurchases, capped calls and transaction costs. That liquidity gave ONTO the capacity to fund the Rigaku investment while preserving resources for other corporate needs.

ONTO Still Faces Execution Risk With RigakuThe 27% Rigaku holding is a minority investment that ONTO will account for under the fair value option, and Rigaku's results will not be consolidated. Strategic value therefore depends on joint development, customer qualifications and adoption rather than immediate consolidated revenue.

Portfolio expansion is already requiring investment elsewhere. Operating expenses increased 6.1% sequentially in the second quarter, while Semilab USA generated $20.7 million of revenue but posted a $4.5 million operating loss. Added technology breadth can take time to translate into operating profit.

Rigaku Fits ONTO's Broader Portfolio ExpansionThe Rigaku investment follows ONTO's Semilab acquisition and sits alongside growth initiatives in silicon photonics, Dragonfly inspection and advanced metrology. Together, those moves extend the company's exposure to more stages of semiconductor process control as device complexity rises.

Silicon-photonics orders exceed $50 million, with roughly two-thirds scheduled for 2027. Management estimates ONTO's served addressable market in silicon photonics will exceed $500 million by 2030, providing another expansion path alongside the X-ray opportunity.

ONTO's Short-Term Signal Beats Its Style ScoresThe Rigaku stake broadens ONTO's technology portfolio and opens access to a sizable semiconductor X-ray market, but the investment case still hinges on development milestones, customer qualification and commercial adoption. The opportunity is clear, while the timing and earnings contribution remain less certain.

ONTO currently carries a Zacks Rank #1 (Strong Buy), which points to favorable near-term earnings-estimate revisions. The stock has a Value Score of F, Growth Score of D, Momentum Score of C and VGM Score of F. Those weaker Style Scores provide less support across valuation, growth and momentum characteristics, so the Rigaku opportunity should be weighed alongside execution and valuation considerations. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Takeaways SoFi Coach has handled nearly 500,000 conversations, with more than 90% receiving positive feedback.More than half of Coach discussions focus on investing, highlighting potential cross-buy opportunities.SoFi ended Q2 with 15.8 million members and 24.4 million products, supporting deeper member economics. SoFi Technologies (SOFI - Free Report) is betting that SoFi Coach can turn its growing member base into deeper, longer relationships. Launched in June 2026, the GenAI financial guide uses data across SoFi and linked outside accounts to answer personal finance questions and help members make better decisions about spending, saving, borrowing and investing over time and at scale.

Early engagement looks encouraging. Management said Coach has already handled nearly 500,000 conversations, with more than 90% receiving positive feedback. More than half of those conversations focused on investing, giving SoFi real-time insight into members' financial needs and where additional products or services may fit naturally.

The timing matters because SoFi’s member ecosystem is expanding quickly. The company ended the second quarter with 15.8 million members, up 35% year over year, while total products rose 42% to 24.4 million. Products per member reached 1.54, and 51% of new products were opened by existing members.

Coach could strengthen that cross-buy trend by connecting personalized financial advice with SoFi’s broader “Everything App.” The platform includes banking, investing, credit cards, loans, crypto and SoFi Plus. Management says Coach draws on data linked to 12,000 financial institutions, 6.5 billion transactions and roughly $750 billion in outstanding balances.

The growing engagement could support stronger member economics over time. SoFi generated $1.2 billion of adjusted net revenues in second quarter, up 40%, while fee-based revenues reached $472 million or 39% of adjusted net revenues. Financial Services and Technology Platform revenues together totaled $551 million, giving Coach a broad base for monetization.

How Are Competitors Faring?Robinhood Markets (HOOD - Free Report) is emerging as a formidable SoFi competitor by expanding beyond trading into banking, retirement, advisory, crypto and private markets. Its June 2026, acquisition of WonderFi added Canadian digital-asset capabilities and further broadened international reach. Funded customers reached a record 28.4 million in second-quarter 2026, up 1.9 million year over year.

Chime Financial, Inc. (CHYM - Free Report) is intensifying competition with SoFi by deepening its primary-account relationship and expanding into investing, lending and employer-linked financial services. In second-quarter 2026, Chime Enterprise signed Allied Universal and another national retailer as employer partners. Active Members rose 20% year over year to 10.4 million, adding 1.7 million net members.

SOFI’s Price Performance, Valuation, and EstimatesShares of SOFI have gained 18.4% in the past three months, outperforming the broader industry while underperforming the S&P 500 Index.

Image Source: Zacks Investment Research

From a valuation standpoint, SOFI trades at a forward price-to-earnings ratio of 25.06X, well above the industry’s 16.69X. It carries a Value Score of F.

Image Source: Zacks Investment Research

SOFI’s estimate revisions reflect a favorable trend for full-year 2026. The Zacks Consensus Estimate for full-year 2026 EPS gained a cent to 60 cents over the past month.

Image Source: Zacks Investment Research

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

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab

CompaniesAug 18 (Reuters) - Private equity ​firm KKR (KKR.N), opens new tab has offered to ‌buy U.S. natural gas and electricity distributor UGI Corp (UGI.N), opens new tab for $9 billion, ​the Wall Street Journal reported ​on Tuesday, citing people familiar ⁠with the matter.

The offer values ​UGI at $42.50 per share, the ​report said. This represents a premium of 21.1% to UGI's closing price on ​Monday, according to Reuters ​calculations.

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Shares of UGI jumped more than 12% ‌in ⁠early trading, while KKR's stock was down roughly 1%.

A surge in electricity demand from AI ​data centers ​and ⁠other large power users is reshaping the U.S. ​energy market, putting reliable sources ​such ⁠as natural gas in greater focus.

KKR and UGI did ⁠not ​immediately respond to ​Reuters requests for comment.

Reporting by Katha Kalia ​in Bengaluru; Editing by Tasim Zahid

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NuScale Power (NYSE:SMR) stock is down 6% Tuesday to $8.66 as the small modular reactor developer digests a Q2 2026 revenue collapse and a fresh $750 million equity offering. The move extends a difficult stretch for the stock, which was already down 35% year to date through Monday’s close.

The broader nuclear complex is also lower midday. Oklo (NYSE:OKLO | OKLO Price Prediction) stock is down 5% to $41.62, BWX Technologies (NYSE:BWXT) stock is declining 2% to $167.41, and Fluor (NYSE:FLR) stock is slipping 2% to $53.59.

Revenue Collapse and a Fresh Share Sale Weigh on Shares NuScale reported Q2 2026 revenue of $75,000, down 99.1% year over year from $8.05 million. The drop reflects completion of the Fluor FEED Phase 2 engineering work on the RoPower project in late 2025, with no comparable billable scope to replace it.

The company ended the quarter with $1.9 billion in cash and investments, a $900 million jump from Q1 2026. That liquidity came largely from $984.5 million in net equity proceeds during H1 2026. Class A share count rose from 318.5 million at year-end 2025 to 410.4 million by June 30.

On August 11, NuScale filed to sell an additional $750 million in shares through an at-the-market offering. SMR stock trades at roughly 14 times projected 2028 sales, and insiders were net sellers over the past 12 months.

Revenue Lumpiness Versus the Long Game CEO John Hopkins framed the quarter around execution readiness, declaring, “We hold the only U.S. Nuclear Regulatory Commission design certification in the SMR industry… No one is better positioned to deliver carbon-free, 24/7 power on the shortest possible timeline.”

NuScale doesn’t expect commercial SMR deployment until the early 2030s. The company’s interim revenue depends on lumpy front-end engineering, licensing, and consulting work, so the 99.1% decline reflects contract timing more than business erosion. Named projects include a 462 MWe deployment at a former coal site in Doicesti, Romania and up to 6 GW of planned capacity across seven states for the Tennessee Valley Authority.

Peers Show a Category Split Year-to-date figures reveal the real market judgment. NuScale stock is down 35% and Oklo stock is down 39% through Monday’s close, while BWX Technologies stock sits roughly flat at down 0.5% and Fluor stock is up 38%. Markets are separating nuclear names earning revenue today from those promising reactors next decade.

The Fluor angle is the sharpest detail. Fluor was NuScale’s EPC partner and largest shareholder, yet Fluor completed monetization of its stake in April 2026 while keeping the contracting relationship. That separates confidence in the technology from willingness to hold the equity. BWX Technologies contrasts as a revenue-generating supplier with more than 11,000 employees and 19 manufacturing facilities.

Centrus Energy (NYSE MKT:LEU) stock, from the only publicly traded proven uranium enricher, is down 24% year to date through Monday’s close. Uranium and fuel-supply names have underperformed less severely than the pre-revenue SMR builders.

The ETF Backdrop Shares of the VanEck Uranium and Nuclear ETF (NYSE ARCA:NLR) are down 5% year to date through Monday’s close. The fund is weighted toward established nuclear utilities and fuel suppliers rather than pre-revenue developers, so the modest drop against NuScale’s and Oklo’s much larger declines makes it a poor proxy for SMR-specific risk (for investors who’d rather own the buildout than the developers, we lined up five nuclear names, utilities and fuel included, in a free report here). It’s a narrow thematic vehicle with meaningful concentration, and it isn’t leveraged.

Bull Case, Bear Case, and What to Watch NuScale’s bull case rests on $1.9 billion of liquidity, the sole NRC design certification in SMR, named TVA and Romania projects, and a supply chain of more than 60 specialized partners. The bear case is $75,000 of quarterly revenue, a share count that expanded sharply in six months with $750 million more filed, no deployment until the early 2030s, and insider selling. Given the pre-revenue profile and active dilution, position sizing in SMR stock should stay modest.

Traders can watch for the pace at which the at-the-market offering draws down. Meanwhile, shareholders may want to keep an eye on whether new FEED work fills the RoPower gap and whether TVA or Romania scopes convert into billable engineering.

Contact [email protected] for any questions or corrections.

Key Takeaways Equinor will acquire 87.71% of Lackawanna Energy Center's Class A shares for $940 million.The 1,483-MW gas-fired plant gives Equinor direct exposure to the PJM power market.Lackawanna's proximity to Equinor's Appalachian gas position strengthens its gas-to-power platform. Equinor ASA (EQNR - Free Report) has struck a $940 million deal to acquire 87.71% of the Class A shares in the 1,483-megawatt Lackawanna Energy Center in Pennsylvania, subject to a potential purchase-price reduction at closing. The Class A shares provide preferential dividend rights, adding another feature to the transaction's cash-flow profile.

The gas-fired combined-cycle plant gives Equinor direct exposure to the PJM power market, which serves nearly 70 million consumers across 13 states. The acquisition diversifies EQNR's revenue streams beyond traditional oil and gas, incorporating an operational asset with near-term cash flow potential.

Lackawanna's Operating Profile Adds ScaleLackawanna is a gas-fired combined-cycle plant with 1,483 megawatts of capacity and annual net electricity generation of nearly 9 terawatt-hours. The facility consists of three combined-cycle units, each comprising a gas turbine, steam turbine, generator and heat recovery system.

The plant began commercial operations in January 2019, giving Equinor exposure to an established operating asset rather than a project still under construction. Lackawanna has an average heat rate of 6,375 British thermal unit per kilowatt-hour, highlighting its operating profile in the PJM market.

Deal Structure Supports Cash Flow VisibilityThe transaction gives Equinor access to an operating asset that can begin contributing cash flow immediately, while investor-protection mechanisms enhance visibility into longer-term returns. Acquiring an existing facility reduces construction and commissioning risks that typically accompany new power projects.

Invenergy’s continued role as manager and operator further lowers execution risk, allowing Equinor to participate in the PJM market through an established platform.

Appalachian Gas Creates Strategic FitLackawanna is located close to Equinor’s Appalachian Basin position, which has daily production capacity of more than 1.7 billion cubic feet of natural gas. The proximity creates a strategic link between EQNR’s existing gas portfolio and a large gas-fired power asset.

Rising electricity demand from data centers, industrial activity and broader electrification in PJM could strengthen the long-term value of Equinor’s gas-to-power platform.

Growth Potential Comes With Execution RisksThe transaction is expected to pave the way for deeper collaboration with Invenergy, giving Equinor opportunities to expand its presence in the PJM market over time. However, the $940 million investment still carries risks tied to regulatory approvals, power-price volatility and EQNR’s non-operating role in Lackawanna.

While the acquisition is likely to improve diversification and add a more visible source of cash flow for Equinor, future returns will depend on market conditions and effective execution. For EQNR, the deal represents a targeted expansion into power generation that complements the company’s existing U.S. gas portfolio rather than signaling a broad shift away from hydrocarbons.

EQNR’s Zacks Rank & Key PicksEquinor currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the energy sector are Valero Energy Corporation (VLO - Free Report) , Cactus, Inc. (WHD - Free Report) and HF Sinclair Corporation (DINO - Free Report) . Valero and HF Sinclair currently sport a Zacks Rank #1 (Strong Buy) each, while Cactus carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

Valero operates 14 global refineries with a daily refinery throughput capacity of 3 million barrels. The refiner’s ethanol operations are spread across 12 U.S. ethanol plants. During the second quarter of 2026, VLO recorded strong gains in its ethanol sector. Margins expanded to $1.15 per gallon from 52 cents per gallon and operating income rose to 75 cents per gallon compared with 13 cents per gallon a year earlier.

Cactus designs, manufactures and services highly engineered wellhead, pressure-control and spoolable pipe technologies used in oil and natural gas drilling, completion and production operations. The company operates primarily through its pressure control and spoolable technologies businesses, serving customers across major U.S. shale basins and select international markets. WHD in its latest earnings call expects Spoolable Technologies revenues to rise another 15%-20% sequentially in the third quarter, supported by Latin American orders and higher domestic activity. WHD ended June with $365.8 million in cash and no bank debt, giving it financial flexibility to support capacity expansion and continued international growth.

HF Sinclair is an independent refiner producing gasoline, diesel, jet fuel, renewable diesel, lubricants and specialty products. In second-quarter 2026, DINO’s adjusted EBITDA increased to $1.5 billion from $665 million a year earlier, driven by stronger refining margins, higher volumes and solid execution. Meanwhile, the company’s renewable fuels adjusted EBITDA rose to $123 million against a $2 million loss reported a year ago due to increased renewable identification number prices, improved Producer’s Tax Credit benefits and higher volumes.

View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab

CompaniesSTOCKHOLM, Aug 18 (Reuters) - Apple (AAPL.O), opens new tab said on Tuesday it will charge a 5% commission on digital transactions in apps distributed outside ​its App Store, replacing a more complex system as it ‌seeks to comply with the European Union's Digital Markets Act.

The company last year changed App Store rules and fees in the EU after the bloc's antitrust regulators ordered ​it to remove commercial barriers that they said hindered ​developers from directing customers outside the store.

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The regulators criticised Apple's ⁠conditions, including a new Core Technology Fee, saying they discouraged ​developers from using alternative app distribution channels on its iOS mobile operating ​system.

Apple said on Tuesday that App Store apps using alternative payment processing will face a 20% commission, although fees could fall to 10% under its small ​business programme.

For apps distributed through alternative app marketplaces or the web, ​Apple will charge a 5% Core Technology Commission.

The new terms eliminate the initial ‌acquisition ⁠fee and store services fee charged under the previous system.

The changes, effective October 1, will resolve disagreements with the EU and the European Commission over these issues, Apple said.

The Commission said it welcomed Apple's ​changes, and will ​monitor their implementation.

Apple ⁠will introduce a single set of terms for developers operating in the EU that are similar ​to the commission-based terms it offers in markets such ​as Japan ⁠and Brazil, the company said.

Japan and Brazil have sought to open up Apple's App Store business model, under which developers have long paid ⁠commissions ​of up to 30% on in-app purchases ​of digital goods and services. Apple is still litigating over what it can charge developers in ​the United States.

Reporting by Supantha Mukherjee in Stockholm. Editing by Mark Potter

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