Goldman Sachs koupí Neos Investments až za 2,25 mld. USD a posílí expanzi do rychle rostoucího trhu ETF s derivátovým výnosem. Po uzavření transakce budou jeho ETF aktiva činit 130 mld. USD.
Goldman Sachs Group Inc (NYSE:GS, XETRA:GOS) will acquire exchange-traded funds provider Neos Investments in a deal valued at up to $2.25 billion, the bank said Wednesday, deepening its push into the fast-growing derivative income ETF market.
The Connecticut-based ETF issuer manages roughly $30 billion across 19 options-based income ETFs, according to data cited by Jefferies.
The acquisition follows Goldman's deal late last year to buy ETF operator Innovator Capital Management for $2 billion. Once the Neos transaction closes, Goldman's combined ETF assets will total $130 billion.
The deal, expected to close in the first quarter of 2027, will be paid in a mix of cash and equity, with a portion tied to asset retention and performance targets, according to Jefferies. Neos co-founders Troy Cates and Garrett Paolella will join Goldman Sachs Asset Management as partners when the deal closes, with the rest of the Neos team expected to follow.
Neos specializes in systematic options-based income strategies, writing index option overlays on equity, fixed income and alternative exposures within a tax-efficient ETF structure. Its flagship funds include SPYI, the S&P 500 High Income ETF with about $11.3 billion in assets; QQQI, the Nasdaq-100 High Income ETF with about $13.9 billion; and IWMI, the Russell 2000 High Income ETF with about $1.1 billion. The firm has also launched hedged equity, alternatives and enhanced fixed income products, including its bitcoin-linked BTCI fund.
Neos has posted year-to-date inflows of about $13 billion. Jefferies noted that the four largest funds have seen annualized organic growth well above industry levels, with QQQI up 143%, IWMI up 236%, BTCI up 104% and SPYI up 101% as of July 31.
As a percentage of assets under management, Goldman is paying about 7.5% for Neos, in line with its Innovator Capital acquisition at roughly 7.1% of AUM and above older deals for specialty ETF franchises struck before the rise of active and derivatives-based ETFs.
The derivative income ETF category has grown to about $180 billion in industry-wide assets, compounding at more than 70% annually since 2021, according to Morningstar data cited by Jefferies.
Combined with its existing options-based ETF lineup, the acquisition positions Goldman Sachs Asset Management among the top eight active ETF providers, with about $80 billion in active ETF assets.
Venmo ve 2. čtvrtletí zvýšil TPV o 14 % meziročně a už sedmý kvartál za sebou rostl dvouciferným tempem. PayPal uvedl, že monetizace Venma pomohla růstu transakční marže.
Key Takeaways PayPal's Venmo TPV rose 14% in Q2, marking a seventh straight quarter of double-digit growth.Venmo Debit Card MAA grew over 50%, while Pay with Venmo MAA increased about 30% year over year.PYPL says Venmo monetization helped drive transaction-margin growth as it expands beyond branded checkout. PayPal Holdings, Inc.’s (PYPL - Free Report) Venmo is becoming a bigger part of the company’s growth story as it pushes beyond peer-to-peer payments. In the second quarter of 2026, Venmo's total payment volume (TPV) rose 14% year over year, marking a seventh straight quarter of double-digit growth. Management said Venmo and Braintree were growing TPV in the mid-teens, as PayPal seeks to diversify growth beyond branded checkout.
Venmo Debit Card monthly active accounts (MAA) grew more than 50% year over year, while Pay with Venmo MAA rose about 30%. Pay with Venmo grew 44%, well above PayPal’s 2% currency-neutral growth in online branded checkout, showing stronger use of the app beyond money transfers.
Monetization improves when customers adopt more Venmo products. Customers using both Venmo Debit and Pay with Venmo generated more than nine times the average revenue per account of peer-to-peer-only users. This customer group has roughly doubled in size over the past year, giving management a path to lift revenues without depending on account growth.
PayPal is rebuilding the Venmo app to improve product discovery and engagement. Venmo feature development accelerated fourfold in the first half of 2026. Management plans to bring more PayPal financial-services capabilities into Venmo, using shared technology, identity and risk systems.
Venmo’s progress matters because PayPal is looking for faster growth outside branded checkout. In the second quarter of 2026, the company reported TPV of $486.4 billion, up 10%, while transaction margin dollars excluding interest on customer balances grew 3%. Management said Venmo monetization was one of the drivers of transaction-margin growth.
How Are Block & Apple Doing in the Payments Space?Block, Inc.’s (XYZ - Free Report) Cash App supports peer-to-peer transfers, spending and merchant payments. In June 2026, Block introduced Cash App Tags, NFC-enabled accessories linked to Cash App Card, expanding contactless payments beyond phones and cards. Cash App serves roughly 59 million monthly transacting active users. In second-quarter 2026, Cash App gross profit grew 31% year over year to $1.97 billion.
Apple (AAPL - Free Report) continues to broaden the utility of its payments ecosystem through Apple Pay, Apple Wallet and Tap to Pay, making the iPhone an increasingly important platform for both consumers and merchants. In June 2026, Apple announced Visual Intelligence for splitting bills with Apple Cash and a redesigned Apple Pay checkout.
PYPL’s Price Performance, Valuation & EstimatesShares of PayPal have gained 29.1% in the past three months, underperforming both the broader industry and the S&P 500 Index.
Image Source: Zacks Investment Research
From a valuation standpoint, PayPal shares are trading cheaply, as suggested by the Value Score of A. In terms of forward 12-month P/E, PYPL stock is trading at 10.47X, which is at a significant discount to the Zacks Financial Transaction Services industry’s 18.66X.
Image Source: Zacks Investment Research
PayPal’s estimate revisions reflect a positive trend. The Zacks Consensus Estimate for full-year 2026 EPS has been revised upward to $5.37 over the past week. The consensus estimate for the metric indicates a year-over-year increase.
Image Source: Zacks Investment Research
PayPal currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Record top and bottom-line performance with double-digit growth in Q4 and FY 2026, exceeding the high end of guidance ranges Exceptional FY 2026 operating margin results, demonstrating strong execution and operating efficiency Broad-based, record high demand for Cisco technology with a networking supercycle underway Q4 total product orders up 35% year over year; up 25% excluding hyperscalers, with double-digit growth across every geography and customer market Networking product orders grew 40% year over year in Q4, marking the eighth consecutive quarter of double-digit growth Significant momentum and raised expectations for AI infrastructure from hyperscalers $4 billion of orders taken in Q4, bringing the total for FY 2026 to $9.3 billion Delivered approximately $4 billion of revenue in FY 2026; $7.5 billion expected in FY 2027 Q4 FY 2026 Results: Revenue: $17.3 billion Increase of 18% year over year Operating Margin: GAAP: 24.7%; Non-GAAP: 35.9% Earnings per Share: GAAP: $0.97; Non-GAAP: $1.22 GAAP EPS increased 52% year over year Non-GAAP EPS increased 23% year over year FY 2026 Results: Revenue: $63.3 billion Increase of 12% year over year Operating Margin: GAAP: 24.3%; Non-GAAP: 34.8% Earnings per Share: GAAP: $3.33; Non-GAAP: $4.33 GAAP EPS increased 31% year over year Non-GAAP EPS increased 14% year over year Q1 FY 2027 Guidance: Revenue: $18.0 billion to $18.2 billion Earnings per Share: GAAP: $1.08 to $1.10; Non-GAAP: $1.32 to $1.34 FY 2027 Guidance: Revenue: $72.2 billion to $73.4 billion Earnings per Share: GAAP: $4.00 to $4.06; Non-GAAP: $5.05 to $5.11 Cisco (NASDAQ: CSCO) today reported fourth quarter and fiscal year results for the period ended July 25, 2026. Cisco reported fourth quarter revenue of $17.3 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.9 billion or $0.97 per share, and non-GAAP net income of $4.9 billion or $1.22 per share.
"We delivered a very strong close to fiscal 2026, marking another record year for Cisco. Our record performance is a testament to the accelerated pace of innovation and the excellent execution by our teams," said Chuck Robbins, Chair and CEO of Cisco. "With the breadth and depth of our portfolio and our competitive differentiation in secure networking, Cisco is well positioned to support our customers however or wherever they decide to deploy AI."
"In Q4, we delivered record revenue, non-GAAP operating income and EPS, all exceeding the high end of our guidance ranges and demonstrating strong financial discipline and operating leverage," said Mark Patterson, CFO of Cisco. "In fiscal 2026, Cisco achieved its highest productivity metrics in 30 years measured by revenue, non-GAAP operating margin, and earnings per employee. As we enter fiscal 2027, we remain focused on delivering durable growth, consistent profitability and continued capital returns as we make the strategic investments to capitalize on the significant growth opportunities we see ahead."
Q4 GAAP Results
Q4 FY 2026
Q4 FY 2025
Vs. Q4 FY 2025
Revenue
$ 17.3 billion
$ 14.7 billion
18 %
Net Income
$ 3.9 billion
$ 2.6 billion
51 %
Diluted Earnings per Share (EPS)
$ 0.97
$ 0.64
52 %
Q4 Non-GAAP Results
Q4 FY 2026
Q4 FY 2025
Vs. Q4 FY 2025
Net Income
$ 4.9 billion
$ 4.0 billion
23 %
EPS
$ 1.22
$ 0.99
23 %
Fiscal Year GAAP Results
FY 2026
FY 2025
Vs. FY 2025
Revenue
$ 63.3 billion
$ 56.7 billion
12 %
Net Income
$ 13.3 billion
$ 10.2 billion
30 %
EPS
$ 3.33
$ 2.55
31 %
Fiscal Year Non-GAAP Results
FY 2026
FY 2025
Vs. FY 2025
Net Income
$ 17.2 billion
$ 15.2 billion
13 %
EPS
$ 4.33
$ 3.81
14 %
Reconciliations between net income, EPS, and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled "Reconciliations of GAAP to non-GAAP Measures."
Cisco Declares Quarterly Dividend
Cisco has declared a quarterly dividend of $0.42 per common share to be paid on October 21, 2026, to all stockholders of record as of the close of business on October 2, 2026. Future dividends will be subject to Board approval.
Financial Summary
All comparative percentages are on a year-over-year basis unless otherwise noted.
Q4 FY 2026 Highlights
Revenue -- Total revenue was $17.3 billion, up 18%, with product revenue up 24% and services revenue was flat.
Revenue by geographic segment was: Americas up 18%, EMEA up 19%, and APJC up 14%. Product revenue performance reflected growth in Networking up 28%, Security up 14%, Collaboration up 12%, and Observability up 6%.
Gross Margin -- On a GAAP basis, total gross margin, product gross margin, and services gross margin were 64.1%, 62.6%, and 69.4%, respectively, as compared with 63.2%, 61.5%, and 68.3%, respectively, in the fourth quarter of fiscal 2025.
Total gross margins by geographic segment were: 64.5% for the Americas, 70.1% for EMEA and 67.3% for APJC.
On a non-GAAP basis, total gross margin, product gross margin, and services gross margin were 66.3%, 64.8%, and 71.6%, respectively, as compared with 68.4%, 67.5%, and 70.8%, respectively, in the fourth quarter of fiscal 2025.
Operating Expenses -- On a GAAP basis, operating expenses were $6.8 billion, up 10% year over year, and were 39.4% of revenue. Non-GAAP operating expenses were $5.2 billion, up 5%, and were 30.4% of revenue.
Operating Income -- GAAP operating income was $4.3 billion, up 38%, with GAAP operating margin of 24.7%. Non-GAAP operating income was $6.2 billion, up 23%, with non-GAAP operating margin at 35.9%.
Provision for Income Taxes -- The GAAP tax provision rate was 21.8%. The non-GAAP tax provision rate was 18.8%.
Net Income and EPS -- On a GAAP basis, net income was $3.9 billion, an increase of 51%, and EPS was $0.97, an increase of 52%. On a non-GAAP basis, net income was $4.9 billion, an increase of 23%, and EPS was $1.22, an increase of 23%.
Cash Flow from Operating Activities -- $5.4 billion for the fourth quarter of fiscal 2026, an increase of 27% compared with $4.2 billion for the fourth quarter of fiscal 2025.
FY 2026 Highlights
Revenue -- Total revenue was $63.3 billion, an increase of 12%.
Operating Income -- GAAP operating income was $15.4 billion, up 31%, with GAAP operating margin of 24.3%. Non-GAAP operating income was $22.0 billion, up 13%, with non-GAAP operating margin at 34.8%.
Net Income and EPS -- On a GAAP basis, net income was $13.3 billion, an increase of 30%, and EPS was $3.33, an increase of 31%. On a non-GAAP basis, net income was $17.2 billion, an increase of 13%, and EPS was $4.33, an increase of 14%.
Cash Flow from Operating Activities -- $14.2 billion for fiscal 2026, flat compared with fiscal 2025.
Balance Sheet and Other Financial Highlights
Cash and Cash Equivalents and Investments -- $15.9 billion at the end of the fourth quarter of fiscal 2026, compared with $16.6 billion at the end of the third quarter of fiscal 2026, and compared with $16.1 billion at the end of fiscal 2025.
Remaining Performance Obligations (RPO) -- $46.7 billion, up 7% in total. Product RPO was up 9% and services RPO was up 6%.
Deferred Revenue -- $29.8 billion, up 3% in total, with deferred product revenue up 2%. Deferred services revenue up 4%.
Capital Allocation -- In the fourth quarter of fiscal 2026, we returned $3.2 billion to stockholders through share buybacks and dividends. We declared and paid a cash dividend of $0.42 per common share, or $1.7 billion, and repurchased approximately 13 million shares of common stock under our stock repurchase program at an average price of $111.53 per share for an aggregate purchase price of $1.5 billion. The remaining authorized amount for stock repurchases under the program is $8.1 billion with no termination date.
Acquisitions
In the fourth quarter of fiscal 2026, we closed the following acquisitions:
Galileo Technologies, Inc., a privately held observability company Astrix Securities Ltd., a privately held security company focused on Non-Human Identity (NHI) Security Guidance
Cisco expects to achieve the following results for the first quarter of fiscal 2027:
Q1 FY 2027
Revenue
$18.0 billion - $18.2 billion
Non-GAAP gross margin
65% - 66%
Non-GAAP operating margin
35.5% - 36.5%
Non-GAAP EPS
$1.32 - $1.34
Cisco estimates that GAAP EPS will be $1.08 to $1.10 for the first quarter of fiscal 2027.
Cisco expects to achieve the following results for fiscal 2027:
FY 2027
Revenue
$72.2 billion - $73.4 billion
Non-GAAP EPS
$5.05 - $5.11
Cisco estimates that GAAP EPS will be $4.00 to $4.06 for fiscal 2027.
Our Q1 FY 2027 guidance assumes an effective tax provision rate of approximately 15% for GAAP and approximately 18.5% for non-GAAP results. Our FY 2027 guidance assumes an effective tax provision rate of approximately 14.5% for GAAP and approximately 18.5% for non-GAAP results.
A reconciliation between the guidance on a GAAP and non-GAAP basis is provided in the tables entitled "GAAP to non-GAAP Guidance" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures."
Editor's Notes:
Q4 fiscal year 2026 conference call to discuss Cisco's results along with its guidance will be held on Wednesday, August 12, 2026 at 1:30 p.m. Pacific Time. Conference call number is 1-888-848-6507 (United States) or 1-212-519-0847 (international). Conference call replay will be available from 4:00 p.m. Pacific Time, August 12, 2026 to 10:00 p.m. Pacific Time, August 18, 2026 at 1-800-839-2232 (United States) or 1-203-369-3662 (international). The replay will also be available via webcast on the Cisco Investor Relations website at https://investor.cisco.com. Additional information regarding Cisco's financials, as well as a webcast of the conference call with visuals designed to guide participants through the call, will be available at 1:30 p.m. Pacific Time, August 12, 2026. The conference call will also be livestreamed on YouTube at https://www.youtube.com/live/yYJFmYwIPeM, LinkedIn at https://www.linkedin.com/events/7490076339694387200 & X at https://x.com/i/broadcasts/1AxRnnDawDgxl. Text of the conference call's prepared remarks will be available within 24 hours of completion of the call. The webcast and livestreaming will include both the prepared remarks and the question-and-answer session. This information, along with the GAAP to non-GAAP reconciliation information, will be available on the Cisco Investor Relations website at https://investor.cisco.com. CISCO SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per-share amounts)
(Unaudited)
Three Months Ended
Fiscal Year Ended
July 25,
2026
July 26,
2025
July 25,
2026
July 26,
2025
REVENUE:
Product
$ 13,459
$ 10,886
$ 48,295
$ 41,608
Services
3,793
3,787
15,030
15,046
Total revenue
17,252
14,673
63,325
56,654
COST OF SALES:
Product
5,029
4,194
17,781
15,121
Services
1,160
1,199
4,684
4,743
Total cost of sales
6,189
5,393
22,465
19,864
GROSS MARGIN
11,063
9,280
40,860
36,790
OPERATING EXPENSES:
Research and development
2,431
2,380
9,563
9,300
Sales and marketing
2,952
2,818
11,559
10,966
General and administrative
679
706
2,761
2,992
Amortization of purchased intangible assets
226
254
916
1,028
Restructuring and other charges
511
35
693
744
Total operating expenses
6,799
6,193
25,492
25,030
OPERATING INCOME
4,264
3,087
15,368
11,760
Interest income
220
227
866
1,001
Interest expense
(373)
(368)
(1,470)
(1,593)
Other income (loss), net
822
53
1,245
(68)
Interest and other income (loss), net
669
(88)
641
(660)
INCOME BEFORE PROVISION FOR INCOME TAXES
4,933
2,999
16,009
11,100
Provision for income taxes
1,074
449
2,742
920
NET INCOME
$ 3,859
$ 2,550
$ 13,267
$ 10,180
Net income per share:
Basic
$ 0.98
$ 0.64
$ 3.36
$ 2.56
Diluted
$ 0.97
$ 0.64
$ 3.33
$ 2.55
Shares used in per-share calculation:
Basic
3,949
3,960
3,953
3,976
Diluted
3,984
3,992
3,987
3,998
CISCO SYSTEMS, INC.
REVENUE BY SEGMENT
(In millions, except percentages)
July 25, 2026
Three Months Ended
Fiscal Year Ended
Amount
Y/Y%
Amount
Y/Y%
Revenue:
Americas
$ 10,396
18 %
$ 37,799
12 %
EMEA
4,350
19 %
16,613
12 %
APJC
2,506
14 %
8,914
9 %
Total
$ 17,252
18 %
$ 63,325
12 %
Amounts may not sum and percentages may not recalculate due to rounding.
CISCO SYSTEMS, INC.
GROSS MARGIN PERCENTAGE BY SEGMENT
(In percentages)
July 25, 2026
Three Months Ended
Fiscal Year Ended
Gross Margin Percentage:
Americas
64.5 %
65.1 %
EMEA
70.1 %
71.2 %
APJC
67.3 %
66.6 %
CISCO SYSTEMS, INC.
REVENUE FOR GROUPS OF SIMILAR PRODUCTS AND SERVICES
(In millions, except percentages)
July 25, 2026
Three Months Ended
Fiscal Year Ended
Amount
Y/Y %
Amount
Y/Y %
Revenue:
Networking
$ 9,791
28 %
$ 34,668
22 %
Security
2,226
14 %
8,232
2 %
Collaboration
1,167
12 %
4,300
4 %
Observability
275
6 %
1,095
4 %
Total Product
13,459
24 %
48,295
16 %
Services
3,793
— %
15,030
— %
Total
$ 17,252
18 %
$ 63,325
12 %
Amounts may not sum and percentages may not recalculate due to rounding.
CISCO SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
July 25,
2026
July 26,
2025
ASSETS
Current assets:
Cash and cash equivalents
$ 7,218
$ 8,346
Investments
8,700
7,764
Accounts receivable, net of allowance
of $78 at July 25, 2026 and $69 at July 26, 2025
7,470
6,701
Inventories
5,694
3,164
Financing receivables, net
3,392
3,061
Other current assets
6,191
5,950
Total current assets
38,665
34,986
Property and equipment, net
2,760
2,113
Financing receivables, net
4,940
3,466
Goodwill
59,477
59,136
Purchased intangible assets, net
7,557
9,175
Deferred tax assets
7,109
7,356
Other assets
9,129
6,059
TOTAL ASSETS
$ 129,637
$ 122,291
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt
$ 10,161
$ 5,232
Accounts payable
3,366
2,528
Income taxes payable
190
1,857
Accrued compensation
4,057
3,611
Deferred revenue
16,988
16,416
Other current liabilities
6,763
5,420
Total current liabilities
41,525
35,064
Long-term debt
19,372
22,861
Income taxes payable
2,339
2,165
Deferred revenue
12,793
12,363
Other long-term liabilities
3,323
2,995
Total liabilities
79,352
75,448
Total equity
50,285
46,843
TOTAL LIABILITIES AND EQUITY
$ 129,637
$ 122,291
CISCO SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
Fiscal Year Ended
July 25,
2026
July 26,
2025
July 25,
2026
July 26,
2025
Cash flows from operating activities:
Net income
$ 3,859
$ 2,550
$ 13,267
$ 10,180
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other
638
635
2,540
2,811
Share-based compensation expense
927
948
3,830
3,641
Provision for receivables
12
7
23
24
Deferred income taxes
443
(341)
226
(1,133)
(Gains) losses on divestitures, investments and other, net
(858)
(90)
(1,358)
(38)
Change in operating assets and liabilities, net of effects of acquisitions and
divestitures:
Accounts receivable
(1,019)
(1,428)
(832)
(22)
Inventories
(992)
(332)
(2,541)
209
Financing receivables
(1,801)
(291)
(1,835)
214
Other assets
(430)
17
(1,032)
(499)
Accounts payable
398
267
842
257
Income taxes, net
38
163
(2,304)
(1,839)
Accrued compensation
789
378
457
(53)
Deferred revenue
1,266
772
1,125
248
Other liabilities
2,116
979
1,769
193
Net cash provided by operating activities
5,386
4,234
14,177
14,193
Cash flows from investing activities:
Purchases of investments
(1,607)
(1,523)
(8,974)
(4,589)
Proceeds from sales of investments
129
415
2,013
2,643
Proceeds from maturities of investments
2,294
958
6,105
4,943
Acquisitions, net of cash and cash equivalents acquired and divestitures
(470)
—
(516)
(291)
Purchases of non-marketable equity securities
(247)
(118)
(946)
(383)
Return of investments in non-marketable equity securities
47
198
270
306
Acquisition of property and equipment
(390)
(217)
(1,410)
(905)
Other
(20)
14
(26)
9
Net cash provided by (used in) investing activities
(264)
(273)
(3,484)
1,733
Cash flows from financing activities:
Issuances of common stock
451
416
805
736
Repurchases of common stock - repurchase program
(1,501)
(1,252)
(6,106)
(6,000)
Shares repurchased for tax withholdings on vesting of restricted stock units
(511)
(312)
(1,873)
(1,222)
Short-term borrowings, original maturities of 90 days or less, net
204
448
616
(31)
Issuances of debt
2,408
1,904
13,048
19,292
Repayments of debt
(4,397)
(3,528)
(12,251)
(22,073)
Dividends paid
(1,659)
(1,625)
(6,553)
(6,437)
Other
(1)
—
(33)
(80)
Net cash used in financing activities
(5,006)
(3,949)
(12,347)
(15,815)
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted
cash and restricted cash equivalents
28
(20)
(29)
(43)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash
equivalents
144
(8)
(1,683)
68
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of
period
7,083
8,918
8,910
8,842
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period
$ 7,227
$ 8,910
$ 7,227
$ 8,910
Supplemental cash flow information:
Cash paid for interest
$ 116
$ 130
$ 1,421
$ 1,500
Cash paid for income taxes, net
$ 593
$ 627
$ 4,821
$ 3,892
CISCO SYSTEMS, INC.
REMAINING PERFORMANCE OBLIGATIONS
(In millions, except percentages)
July 25, 2026
April 25, 2026
July 26, 2025
Amount
Y/Y %
Amount
Y/Y %
Amount
Y/Y %
Product
$ 23,436
9 %
$ 22,058
6 %
$ 21,572
8 %
Services
23,298
6 %
21,404
2 %
21,961
5 %
Total
$ 46,734
7 %
$ 43,462
4 %
$ 43,533
6 %
CISCO SYSTEMS, INC.
DEFERRED REVENUE
(In millions)
July 25,
2026
April 25,
2026
July 26,
2025
Deferred revenue:
Product
$ 13,817
$ 13,461
$ 13,490
Services
15,964
15,138
15,289
Total
$ 29,781
$ 28,599
$ 28,779
Reported as:
Current
$ 16,988
$ 16,446
$ 16,416
Noncurrent
12,793
12,153
12,363
Total
$ 29,781
$ 28,599
$ 28,779
CISCO SYSTEMS, INC.
DIVIDENDS PAID AND REPURCHASES OF COMMON STOCK
(In millions, except per-share amounts)
DIVIDENDS
STOCK REPURCHASE PROGRAM
TOTAL
Quarter Ended
Per Share
Amount
Shares
Weighted-
Average Price
per Share
Amount
Amount
Fiscal 2026
July 25, 2026
$ 0.42
$ 1,659
13
$ 111.53
$ 1,502
$ 3,161
April 25, 2026
$ 0.42
$ 1,660
16
$ 80.28
$ 1,252
$ 2,912
January 24, 2026
$ 0.41
$ 1,617
18
$ 76.29
$ 1,351
$ 2,968
October 25, 2025
$ 0.41
$ 1,617
29
$ 68.28
$ 2,001
$ 3,618
Fiscal 2025
July 26, 2025
$ 0.41
$ 1,625
19
$ 64.65
$ 1,252
$ 2,877
April 26, 2025
$ 0.41
$ 1,627
25
$ 59.78
$ 1,504
$ 3,131
January 25, 2025
$ 0.40
$ 1,593
21
$ 58.58
$ 1,236
$ 2,829
October 26, 2024
$ 0.40
$ 1,592
40
$ 49.56
$ 2,003
$ 3,595
CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
GAAP TO NON-GAAP NET INCOME
(In millions)
Three Months Ended
Fiscal Year Ended
July 25,
2026
July 26,
2025
July 25,
2026
July 26,
2025
GAAP net income
$ 3,859
$ 2,550
$ 13,267
$ 10,180
Adjustments to cost of sales:
Share-based compensation expense
138
150
589
584
Amortization of acquisition-related intangible assets
Amounts may not sum and percentages may not recalculate due to rounding.
CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
EFFECTIVE TAX RATE
(In percentages)
Three Months Ended
Fiscal Year Ended
July 25,
2026
July 26,
2025
July 25,
2026
July 26,
2025
GAAP effective tax rate
21.8 %
15.0 %
17.1 %
8.3 %
Total adjustments to GAAP provision for income taxes
(3.0) %
3.1 %
1.9 %
10.1 %
Non-GAAP effective tax rate
18.8 %
18.1 %
19.0 %
18.4 %
GAAP TO NON-GAAP GUIDANCE
Q1 FY 2027
Gross Margin
Operating Margin
Earnings per
Share (1)
GAAP
63% - 64%
28% - 29%
$1.08 - $1.10
Estimated adjustments for:
Share-based compensation expense
1.0 %
4.5 %
$0.14
Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs
1.0 %
2.5 %
$0.09
Significant asset impairments and restructurings(2)
—
0.5 %
$0.01
Non-GAAP
65% - 66%
35.5% - 36.5%
$1.32 - $1.34
FY 2027
Earnings per Share (1)
GAAP
$4.00 - $4.06
Estimated adjustments for:
Share-based compensation expense
$0.60
Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs
$0.34
Significant asset impairments and restructurings (2)
$0.11
Non-GAAP
$5.05 - $5.11
(1) Estimated adjustments to GAAP earnings per share are shown after income tax effects.
(2) Reflects charges related to a restructuring plan announced on May 13, 2026. We expect this plan to be substantially completed by the end of fiscal 2027.
Except as noted above, this guidance does not include the effects of any future acquisitions/divestitures, significant asset impairments and restructurings, significant litigation settlements and other contingencies, gains and losses on investments, significant tax matters, or other items, which may or may not be significant.
Forward Looking Statements, Non-GAAP Information and Additional Information
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as being well positioned to support our customers however or wherever they decide to deploy AI, the significant momentum and raised expectations of AI infrastructure from hyperscalers, the broad-based high demand for Cisco technology, and the significant growth opportunities ahead) and the future financial performance of Cisco (including the guidance for Q1 FY 2027 and full year FY 2027) that involve risks and uncertainties, such as the actual impact of tariffs on our guidance for Q1 FY 2027 and full year FY 2027. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; our development and use of artificial intelligence; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market, cloud, enterprise and other customer markets; the return on our investments in certain key priority areas, and in certain geographical locations, as well as maintaining leadership in Networking and services; the timing of orders and manufacturing and customer lead times; supply constraints; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and services markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, other intellectual property, antitrust, stockholder and other matters, and governmental investigations; our ability to achieve the benefits of restructurings and possible changes in the size and timing of related charges; cyber attacks, data breaches or other incidents; vulnerabilities and critical security defects; our ability to protect personal data; evolving regulatory uncertainty; terrorism; natural catastrophic events (including as a result of global climate change); any pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in results of operations; and other factors listed in Cisco's most recent reports on Forms 10-Q and 10-K filed on May 19, 2026 and September 3, 2025, respectively. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. Cisco's results of operations for the three months and the year ended July 25, 2026 are not necessarily indicative of Cisco's results of operations for any future periods. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of this release.
This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP interest and other income (loss), net, and non-GAAP net income per share data for the periods presented. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis.
These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco's results of operations in conjunction with the corresponding GAAP measures.
Cisco believes that the presentation of non-GAAP measures when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations.
For its internal budgeting process, Cisco's management uses financial statements that do not include, when applicable, share-based compensation expense, amortization of acquisition-related intangible assets, acquisition/divestiture-related costs, significant asset impairments and restructurings, significant litigation settlements and other contingencies, gains and losses on investments, the income tax effects of the foregoing and significant tax matters. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. In prior periods, Cisco has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. For additional information on the items excluded by Cisco from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission.
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry leading AI-powered solutions and services, Cisco enables its customers, partners and communities to unlock innovation, enhance productivity and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all. Discover more on The Newsroom and follow us on X at @Cisco.
UnitedHealth Group snížila ve 2. čtvrtletí poměr nákladů na zdravotní péči na 86,7 % z 89,4 % a provozní zisk vzrostl o 55 %. Firma zároveň zvýšila výhled upraveného EPS pro rok 2026.
Key Takeaways UNH's MCR fell to 86.7%, helping operating earnings rise 55% and lifting 2026 EPS guidance.Lower Medicare costs and value-based care are supporting UNH's cost-control efforts.$860 million in favorable development and rising commercial costs could challenge the recovery. UnitedHealth Group Incorporated’s (UNH - Free Report) second-quarter results show that its earnings performance is improving. The medical care ratio (MCR) fell to 86.7% from 89.4% a year ago, meaning the company spent less of its premium revenues on medical care and retained more for profits. This helped operating earnings rise 55%. UNH also raised its 2026 adjusted EPS guidance, reflecting confidence in its earnings recovery.
The trend is encouraging, particularly in Medicare. Medical costs are running below UNH’s original expectations, aided by better benefit planning, care management and changes in provider networks. OptumHealth is also making progress as it focuses more on value-based care and controls unnecessary medical spending. These trends suggest that the company’s cost-control efforts are beginning to show results.
Still, the 86.7% MCR may not fully reflect UNH’s underlying medical-cost trend. The quarter included $860 million of favorable prior-period medical development. At the same time, commercial medical costs are increasing at a rate exceeding 11%, caused by higher provider billing and coding intensity and specialty drug costs. This could keep pressure on commercial margins for longer.
UNH’s earnings rebound looks encouraging, but its durability remains the key issue. The company’s 2027 pricing and benefit decisions will be an important test. If the company can maintain pricing growth in line with rising medical costs, margin expansion could drive further earnings growth. Otherwise, sustained medical-cost pressure may constrain future earnings growth.
How Are UNH's Peers Positioned?UnitedHealth isn't alone; peers from the Medical space, including Elevance Health, Inc. (ELV - Free Report) and CVS Health Corporation (CVS - Free Report) , are also navigating changing medical cost trends.
Elevance Health’s second-quarter benefit expense ratio was 89.7%, up 80 basis points year over year, mainly due to higher medical costs in its government businesses. Still, ELV raised its 2026 adjusted EPS guidance to at least $27. This shows Elevance is using pricing and cost controls to protect margins.
CVS Health is showing encouraging cost-control trends. Its Aetna business benefited from lower medical costs in the second quarter, helping the company deliver strong earnings beat and raise its 2026 adjusted EPS guidance to $7.90-$8.10. However, CVS faces uncertainty heading into 2027 due to ongoing PBM and 340B-related pressures.
UNH’sPrice Performance, Valuation & EstimatesShares of UnitedHealth have risen 47.9% in the past 12 months compared with the industry’s 41% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, UNH trades at a forward price-to-earnings ratio of 18.83X compared with the industry average of 16.48X. UNH carries a Value Scoreof B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UnitedHealth’s 2026 earnings is pegged at $19.69 per share, implying a 20.4% increase from the year-ago period’s level.
Image Source: Zacks Investment Research
UNH currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Gap Inc. schválila čtvrtletní dividendu ve výši 0,175 USD na akcii za fiskální 3. čtvrtletí 2026. Vyplacena bude 28. října 2026 akcionářům k rozhodnému dni 7. října 2026.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Gap Inc. (NYSE: GAP) today announced that its board of directors has authorized a third quarter fiscal year 2026 dividend of $0.175 per share, payable on or after October 28, 2026, to shareholders of record at the close of business on October 7, 2026.
About Gap Inc.
Gap Inc., a purpose-driven house of iconic brands, is the largest specialty apparel company in America. Its Old Navy, Gap, Banana Republic, and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children available worldwide through company-operated and franchise stores, and e-commerce sites. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet through its commitment to bridge gaps to create a better world. For more information, please visit www.gapinc.com.
Investor Relations Contact:
Shirley Martin
[email protected]
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Dover Corporation (NYSE: DOV) today announced that it has completed the previously reported acquisition of Cloeren Incorporated, which will become part of the MAAG business unit within Dover's Pumps & Process Solutions segment.
About Dover:
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.
Dow vyhlásil čtvrtletní dividendu 35 centů na akcii, splatnou 11. září 2026 akcionářům zapsaným k 31. srpnu 2026. Jde o 460. po sobě jdoucí dividendu od roku 1912.
, /PRNewswire/ -- Dow (NYSE: DOW) has declared a dividend of 35 cents per share, payable September 11, 2026, to shareholders of record on August 31, 2026.
This marks the 460th consecutive dividend paid by the Company or its affiliates since 1912.
About Dow
Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, customer-focused innovation and leading business positions enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 29 countries and employed approximately 34,600 people as of year-end 2025. Dow delivered sales of approximately $40 billion in 2025. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us at www.dow.com.
Cautionary Statement about Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases.
Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow's products; Dow's expenses, future revenues and profitability; any sanctions, export restrictions, supply chain disruptions or increased economic uncertainty related to the ongoing conflicts between Russia and Ukraine and in the Middle East; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow's contemplated capital and operating projects; Dow's ability to realize its commitment to carbon neutrality on the contemplated timeframe, including the completion and success of its integrated ethylene cracker and derivatives facility in Alberta, Canada; size of the markets for Dow's products and services and ability to compete in such markets; Dow's ability to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow's products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow's intellectual property in the United States and abroad; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow's significant customers and suppliers; changes in public sentiment and political leadership; increased concerns about plastics in the environment and lack of a circular economy for plastics at scale; changes in consumer preferences and demand; changes in laws and regulations, political conditions, tariffs and trade policies, or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business, logistics and supply disruptions; security threats, such as acts of sabotage, terrorism or war, including the ongoing conflicts between Russia and Ukraine and in the Middle East; weather events and natural disasters; disruptions in Dow's information technology networks and systems, including the impact of cyberattacks; risks related to Dow's separation from DowDuPont Inc. such as Dow's obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities; and any global and regional economic impacts of a pandemic or other public health-related risks and events on Dow's business.
Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and the Company's subsequent reports filed with the U.S. Securities and Exchange Commission. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow's business. Dow Inc. and The Dow Chemical Company and its consolidated subsidiaries assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.
®TM Trademark of The Dow Chemical Company or an affiliated company of Dow
NextEra Energy uzavřela definitivní dohody s americkým ministerstvem obchodu a vládou Japonska o financování až 10 GW výroby na zemní plyn v Texasu a Pensylvánii. První tranše financování bude uvolněna po schválení projektů.
, /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced it has executed definitive agreements with the U.S. Department of Commerce and the Government of Japan to fund the development and operation of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.
Today's announcement follows President Donald J. Trump's approval of the projects, which were selected in connection with Japan's $550 billion investment commitment to the United States as part of the U.S.-Japan trade agreement, in March.
This major milestone releases the first tranche of funding for the two projects, which will be used for a variety of development activities, including down payments on long-lead equipment, to include turbines and selection of engineering, procurement and construction contractors. In partnership with the Administration and the Government of Japan, these funds are expected to enable NextEra Energy to deliver reliable, large-scale power infrastructure that supports America's economic growth and technical leadership in a manner consistent with the White House's Ratepayer Protection Pledge.
A word from U.S. Secretary of Commerce Howard Lutnick: "Today's announcement is yet another example of how President Trump's trade agenda is putting the needs of American families first. The initial $3.3 billion investment will commence the building of the facilities needed to bring up to 10 gigawatts of natural gas power to Texas and Pennsylvania communities, lowering energy prices for families and creating thousands of high paying jobs."
A word from John Ketchum, chairman, president and CEO of NextEra Energy: "NextEra Energy's hub strategy was designed for this moment and reflects more than 18 months of strategically positioning our business to capture 'bring your own generation' opportunities. By pairing large-load demand with dedicated generation, we can move quickly to support the growth of critical digital infrastructure while ensuring the costs are not borne by American homes and businesses. The Texas and Pennsylvania projects represent two of the over 30 energy hubs in various stages of development in our portfolio. We look forward to continuing to work with the Department of Commerce and the Government of Japan to advance these important projects."
A word from U.S. Senator Ted Cruz: "Texas leads America and therefore the world in providing reliable, affordable energy. This investment in new natural gas generation, developed by NextEra Energy, will advance manufacturing, drive our economy and help ensure Texas remains at the forefront of American energy dominance. I congratulate them on being a part of this important investment, solidifying the energy future of Texas and the country."
A word from U.S. Senator Dave McCormick: "The Mon Valley region built the steel that built America. Now it's going to build the power that fuels America's future. The $17 billion South Mon project is historic, bringing 4.3 gigawatts of reliable natural gas generation, thousands of jobs in construction and the trades and proof that the communities that powered our past will power our future too. Pennsylvania has the gas, the workforce and the grit to lead, and this project shows the world what energy dominance looks like."
Powering America and protecting affordability: Supporting the goals of the White House's Ratepayer Protection Pledge, which NextEra Energy signed in July, the projects pair new generating resources with new electricity demand and ensure large-load customers pay their fair share.
Creating economic benefits for communities: The Texas and Pennsylvania hubs are expected to generate thousands of construction jobs and hundreds of permanent operating positions across both states, with hiring concentrated in skilled trades, engineering and plant operations. Beyond direct employment, the projects will drive significant local investment through supply chain spending and equipment procurement and promote small businesses within host communities.
Next steps: NextEra Energy will continue to advance project development in coordination with federal, state and local stakeholders, with initial resources expected to come online as early as the end of 2028 and the projects expected to be completed in 2032. The projects remain subject to applicable permitting and regulatory requirements, as well as completion of development, construction and commissioning activities. Additional details, including project configurations and timelines, will be shared as development advances.
About NextEra Energy
NextEra Energy, Inc. (NYSE: NEE) is the largest electric power and energy infrastructure company in North America and is a leading provider of electricity to American homes and businesses. Headquartered in Juno Beach, Florida, NextEra Energy is a Fortune 200 company that owns Florida Power & Light Company, America's largest electric utility, which provides reliable electricity to approximately 12 million people across Florida. NextEra Energy also owns one of the largest energy infrastructure development companies in the U.S., NextEra Energy Resources, LLC. NextEra Energy and its affiliated entities are meeting America's growing energy needs with a diverse mix of energy sources, including natural gas, nuclear, renewable energy and battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
Cautionary Statements and Risk Factors That May Affect Future Results
This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (together with its subsidiaries, NextEra Energy) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's control. Forward-looking statements in this news release include, among others, statements concerning future financing activities and statements concerning growth strategies, capital investment opportunities and technology initiatives. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and its business and financial condition are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's business operations; inability of NextEra Energy to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory, operational and economic factors on regulatory decisions important to NextEra Energy; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support clean energy or changes in or the imposition of additional tax laws, tariffs, duties, policies or other costs or assessments on clean energy or equipment necessary to generate, store or deliver it; impact of new or revised laws, regulations, executive orders, interpretations or constitutional ballot and regulatory initiatives on NextEra Energy; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on NextEra Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal, state and local government regulation of its operations and businesses; effect on NextEra Energy of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of litigation; impacts of NextEra Energy of allegations of violations of law; effect on NextEra Energy of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities and other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy resulting from risks related to project siting, construction, permitting, governmental approvals and the negotiation of project development agreements, as well as supply chain disruptions; risks involved in the operation and maintenance of electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities, and other facilities; effect on NextEra Energy of a lack of growth, slower growth or a decline in the number of customers or in customer usage; planned productivity increases and competitive advantages through the use of artificial intelligence technologies may not be realized and the use of and reliance on artificial intelligence may present certain risks; impact on NextEra Energy of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from geopolitical factors, terrorism, cyberattacks or other attempts to disrupt NextEra Energy's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low natural gas and oil prices, disrupted production or unsuccessful drilling efforts could impact NextEra Energy's natural gas and oil production and transportation operations and cause NextEra Energy to delay or cancel certain natural gas and oil production projects and could result in certain assets becoming impaired; risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity requirements services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation operations on sale and delivery of power or natural gas; exposure of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's information technology systems, or implementation challenges; risks to NextEra Energy's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability to maintain, negotiate or renegotiate acceptable franchise agreements; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation facilities; liability of NextEra Energy for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy's owned nuclear generation units through the end of their respective operating licenses or planned license extensions; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; defaults or noncompliance related to project-specific, limited-recourse financing agreements; inability to maintain current credit ratings; reduced liquidity from the inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's assets and investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends, make distributions or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of public health crises, epidemics and pandemics, and its effects on NextEra Energy's business. NextEra Energy discusses these and other risks and uncertainties in its annual report on Form 10-K for the year ended December 31, 2025 and other Securities and Exchange Commission (SEC) filings, and this news release should be read in conjunction with such SEC filings. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy undertakes no obligation to update any forward-looking statements.
Digital Realty Trust zvýšila výhled Core FFO na akcii pro rok 2026 na 8,15–8,20 USD po rekordním backlogu 1,9 mld. USD a silných nájemních cenách při obnovách.
Key Takeaways Digital Realty's record $1.9B backlog and July hyperscale leases strengthen future revenue visibility.DLR raised its 2026 Core FFO outlook as renewal pricing and portfolio occupancy continued to improve.Development is expanding, but $4.25-$4.75B in spending and $18.6B of debt raise funding concerns. Digital Realty Trust, Inc. (DLR - Free Report) shares have gained 9.9% in the past four weeks, reflecting stronger operating momentum across leasing, renewals and development. The Zacks Consensus Estimate for current-year funds from operations (FFO) has also moved 4.3% higher over the past four weeks.
The advance has fundamental support, but the stock is not without constraints. A large capital program and sizable debt load keep financing conditions important, while mixed Style Scores make the near-term setup less decisive.
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DLR’s Record Backlog Supports Revenue VisibilitySecond-quarter bookings reached $307 million of annualized GAAP base rent at 100% share, while the signed-but-not-commenced backlog climbed to a record $1.9 billion. At Digital Realty’s share, bookings were $208 million and backlog totaled $1.4 billion.
The weighted-average lag between new lease signings and contractual commencement was nine months. Two hyperscale leases signed in July added another $410 million of annualized GAAP base rent at 100% share, extending the runway for future revenue commencements.
Digital Realty’s Renewal Pricing Remains StrongCash rental rates on renewal leases increased 25.4% in the second quarter, while GAAP renewal rates rose 32%. Portfolio occupancy reached 90.2%, up from 89.7% a year earlier, adding another positive signal on utilization.
Management raised its 2026 Core FFO per share outlook, excluding net promote, to $8.15-$8.20. It also increased the expected 2026 cash renewal-rate range to 9%-11%, up another 250 basis points from last quarter, indicating that current pricing strength is influencing the full-year outlook.
DLR’s Development Pipeline Adds Growth CapacityDigital Realty had about 1.4 gigawatts under construction at quarter-end, with an 11.5% average expected stabilized yield. The pipeline was 54% pre-leased at June 30 and 63% pre-leased after including the July hyperscale signings.
The company also had about 8.5 gigawatts of buildable IT capacity. Equinix, Inc. (EQIX - Free Report) reported second-quarter annualized gross bookings growth of 23% year over year and a record backlog, underscoring broad demand for digital infrastructure. GDS Holdings Limited (GDS - Free Report) reported an 11.7% year-over-year increase in committed and pre-committed area in the first quarter, providing another industry demand reference point.
Digital Realty’s Funding Needs Could Limit UpsideThe growth program is capital intensive. Digital Realty expects 2026 development spending of $4.25-$4.75 billion, net of partner contributions, up from its prior $3.5-$4.0 billion range.
Total debt stood at about $18.6 billion at June 30. The company raised roughly $2.5 billion through its at-the-market equity program in the first half and expects $1-$1.5 billion of dispositions or joint venture capital in 2026, leaving execution sensitive to financing conditions.
DLR’s Mixed Scores Temper the Momentum CaseDLR’s 9.9% four-week gain is backed by record backlog, double-digit renewal pricing and a larger pre-leased development pipeline. Those operating trends improve visibility, but heavy spending and funding needs leave less room for execution or capital-market setbacks.
The stock currently carries a Zacks Rank #3 (Hold), pointing to a balanced near-term revision signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its Growth Score of B is favorable, but the Value Score of D, Momentum Score of C and VGM Score of C show a less uniform setup. That mix supports a measured view after the recent rally.
Růstové produkty Bristol Myers Squibb vzrostly v první polovině roku 2026 o 13 % a tvořily 56 % tržeb. Starší léky stále dělají 44 % tržeb a dál erodují po ztrátě patentové ochrany.
Key Takeaways Growth products rose 13% in the first half of 2026, reaching 56% of Bristol Myers' total revenuesOpdivo Qvantig, Reblozyl, Breyanzi, Opdualag, Camzyos and Cobenfy propelled first-half growth.Legacy products still make up 44% of revenues and face erosion after multiple patent losses. Bristol Myers Squibb (BMY - Free Report) is navigating a revenue mix shift as growth products portfolio now assumes a larger role in the business, helping mitigate the impact of declining sales from mature products facing generics.
The growth portfolio — including Opdivo, Opdivo Qvantig, Orencia, Yervoy, Reblozyl, Camzyos, Breyanzi, Opdualag, Zeposia, Sotyku, Krazati and Cobenfy — is becoming central to top-line resilience.
Sales from this segment rose 13% in the first half of 2026, lifting its contribution to 56% of total revenues from 51.8% in the first half of 2025. The stronger mix underscores improving revenue durability and supports a more favorable long-term growth outlook.
Within this mix, Reblozyl, Breyanzi, Opdualag, Opdivo Qvantig, Camzyos and Cobenfy propelled growth in the first half.
Opdivo Qvantig (nivolumab and hyaluronidase-nvhy - subcutaneous formulation) has witnessed strong uptake across all approved tumor types in the United States. Opdivo Qvantig is now generating annualized revenues of more than $1 billion.
Other key drugs are contributing to revenue growth, though at varying stages of maturity.
Opdualag continues to benefit from robust global demand and its leading position as a standard of care in first-line melanoma in the United States.
Reblozyl continues to deliver a stellar performance, driven by solid uptake in first-line MDS-associated anemia, sustained strength in the second-line setting and further penetration among first-line RS-negative patients.
Breyanzi’s sales continue to be solid, underscoring its strong commercial momentum. Growth is being driven by its best-in-class profile and robust demand across approved large B-cell lymphoma indications in the United States and international markets. The strong performance highlights sustained demand for the therapy and supports expectations for continued commercial expansion.
Cardiovascular drug Camzyos continues to deliver solid performance, supported by ongoing promotional efforts, an expanding base of new patient prescribers and deeper penetration into the community setting.
In immunology, Sotyktu remains an important growth driver. The recent approval in psoriatic arthritis expands its commercial opportunity and strengthens BMY’s presence in rheumatology. Additional upside could come from ongoing phase III programs in systemic lupus erythematosus and Sjögren’s disease, which may further broaden the drug’s addressable market, if successful.
Newer products such as Cobenfy for schizophrenia provide additional long-term optionality. Early launch momentum and potential label expansions could establish Cobenfy as another meaningful growth driver over time.
However, the portfolio transition remains a key challenge. Legacy products, including Eliquis, Revlimid, Pomalyst, Sprycel and Abraxane, still account for 44% of revenues and continue to face significant erosion following the loss of exclusivity for Revlimid, Pomalyst, Sprycel and Abraxane.
BMY’s Competition in Oncology SpaceOncology is a key therapeutic area of focus for Bristol Myers, which is developing and delivering transformational medicines in this space.
The company competes with big pharma giants like Merck (MRK - Free Report) and Pfizer (PFE - Free Report) in this space.
The immuno-oncology space is dominated by pharma giant MRK’s blockbuster drug Keytruda (pembrolizumab).
Keytruda is approved for several types of cancer and alone accounts for around 48% of MRK’s pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda.
Pfizer is one of the largest and most successful drugmakers in the field of oncology. It has an innovative oncology product portfolio of antibody-drug conjugates (ADCs), small molecules, bispecifics and other immune-oncology biologics that treat a wide range of cancers, including breast cancer, gastrointestinal cancer, genitourinary cancer, hematology-oncology, and thoracic cancers, including lung cancer.
Pfizer’s position in oncology was strengthened with the addition of Seagen.
The company inked a licensing agreement with 3SBio for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, outside China.
BMY’s Price Performance, Valuation & EstimatesShares of Bristol Myers have gained 17.9% year to date compared with the industry’s growth of 6%.
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From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, shares currently trade at 9.63X forward earnings, higher than its mean of 8.62X but lower than the large-cap pharma industry’s 18.91X.
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The Zacks Consensus Estimate for 2026 EPS has moved north to $6.81 from $6.32 in the past 60 days, while that for 2027 EPS has moved north to $6.42 from $6.05 in the same time frame.
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BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Společnost Intuitive Surgical uvedla, že růst procedur da Vinci v USA zpomalil ve 2. čtvrtletí na 12 % z 14 % v 1. čtvrtletí kvůli změnám v ACA. Firma ale ponechala výhled růstu procedur pro rok 2026 na 13,5–15,5 %.
Key Takeaways Intuitive Surgical's U.S. procedure growth slowed to 12% in Q2 from 14% in Q1 and 17% in Q4 2025.ACA coverage changes affected timing for some deferrable procedures, while disease burden remains unchanged.Intuitive Surgical maintained 2026 procedure growth guidance of 13.5-15.5%, targeting the midpoint. Intuitive Surgical (ISRG - Free Report) has faced a moderation in U.S. procedure growth during the first half of 2026, but management’s commentary suggests the slowdown is more likely a temporary demand-timing issue than evidence of a structural deterioration. U.S. da Vinci procedures grew 12% in the second quarter, down from 14% in the first quarter. da Vinci procedure growth was 17% in the fourth quarter of 2025.
Management pointed to a modest adverse impact from the expiration of enhanced ACA premium subsidies. Customer feedback indicated that changes in insurance coverage and premium dynamics affected the timing of patient visits, particularly for procedures that can be postponed.
Intuitive Surgical also stated that the underlying disease burden remains unchanged, implying that deferred benign procedures should eventually return as patients re-enter the healthcare system. Management also noted that the procedure moderation likely reflected a combination of ACA-related effects and the “law of large numbers,” rather than a single factor. The distinction between deferrable and non-deferrable procedures was particularly important, with the former showing greater moderation.
For the second half, investors should nevertheless expect some pressure on reported growth. Intuitive Surgical maintained its 2026 da Vinci procedure growth forecast of 13.5-15.5%, expecting performance toward the midpoint. Management flagged tougher U.S. comparisons in the third quarter, alongside seasonal effects internationally, while incorporating ACA-related patient behavior into its outlook.
At this stage, the slowdown does not appear structural. U.S. utilization still increased 3%, while system placements rose 24%, and management said ACA concerns had not affected the capital pipeline. Strong adoption of da Vinci 5 continues to support upgrades and capacity expansion. The key risk is the duration of deferred procedures, rather than weakening underlying demand for robotic surgery.
Peer UpdatesGlobus Medical’s (GMED - Free Report) robotic platform faced a softer Enabling Technologies quarter, with revenues declining 26% year over year to $26.1 million. The company attributed the decline primarily to its shift toward greater flexibility in capital acquisition, rather than explicitly citing ACA premium-subsidy changes.
Despite lower capital revenues, demand for Excelsius technology remained healthy. EGPS and eHub units deployed through sales, leases or rentals rose 25% year over year, while robotic utilization surpassed 137,000 procedures. Management also acknowledged tougher second-half comparisons and remained cautious on its outlook because of Enabling Technologies’ strategy shift and Nevro integration.
Stereotaxis’ (STXS - Free Report) robotic business continues to face commercialization and procedure-related headwinds, but management did not specify any headwind from ACA premium subsidy expiration. Revenues declined 13% year over year to $7.7 million, partly because no robotic system was delivered during the quarter.
Management also cited “general pressure on procedures” as the company transitions from Johnson & Johnson and ramps up its own catheter manufacturing. Catheter supply constraints remain a bigger near-term bottleneck as demand exceeds available production, limiting shipments despite customer orders. STXS’ robotic growth is currently constrained more by product availability, hospital adoption, and procedure volumes than by any clearly identified impact from ACA subsidy changes.
ISRG’s Price Performance, Valuation and EstimatesShares of ISRG have lost 29.2% so far this year compared with a 6.8% decline of the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 34.95X, above the industry average. But it is significantly lower than its five-year median of 69.05X. ISRG carries a Value Score of D.
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The Zacks Consensus Estimate for Intuitive Surgical’s 2026 earnings implies a 20.3% rise from the year-ago period’s level.
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The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Pentagon vyvíjí tlak na americké zbrojovky, aby výrazně zrychlily výrobu střel, protože zásoby Patriot klesly asi o 65 % a THAAD nejméně o 38 %.
Z vyšších zakázek mohou těžit Lockheed Martin, RTX i obranné ETF jako ITA.
Key Takeaways Lockheed Martin, RTX and other defense majors face a major missile production push from the Pentagon.Patriot stocks have fallen about 65%, while THAAD inventories have dropped at least 38%.ETFs like ITA offer diversified exposure to defense companies poised to benefit from higher orders. The Pentagon is currently pressing the U.S. defense contractors to accelerate weapon production dramatically. In a recent memo, deputy defense secretary Steve Feinberg gave major contractors just 21 days to submit plans for "significantly faster, more aggressive delivery schedules and/or increased production for critical capabilities" (as cited in CNBC).
This directive comes in the face of the U.S. military witnessing critical shortages in its munition stockpiles, with some key missile inventories depleted by over 65% following five months of war with Iran.
For investors, this confluence of urgent demand and mandated production increases creates a potentially lucrative entry point into the defense sector, particularly through diversified defense exchange-traded funds (ETFs) that offer broad exposure to the military contractors poised to benefit most from this massive replenishment cycle.
But before we highlight those fund names, investors may first want to assess the severity of the munitions depletion challenge and the extent to which the Pentagon’s production push could benefit defense contractors and, by extension, the funds that hold them.
The Depletion Crisis & Pentagon’s StanceEmpirically, U.S. weapons stockpiles, particularly missiles, have been critically depleted by the combination of sustained combat operations and prior commitments. According to a comprehensive analysis by the Center for Strategic and International Studies (“CSIS”), the war with Iran has consumed a staggering quantity of America's most advanced missile interceptors.
The pre-war inventory of Patriot interceptors, which stood at 2,330, has plummeted to an estimated 759-827 missiles, marking a reduction of approximately 65%. Similarly, THAAD interceptor stocks have fallen from 452 to just 234-278 units, a decline of at least 38%.
While the Iran conflict has become the primary source of pressure on U.S. missile inventories, current stockpile depletion has also been compounded by years of military aid to Ukraine, including the transfer of roughly 600 Patriot interceptors to help defend against Russian attacks.
To this end, the CSIS has warned that replenishing reserves for these critical weapons could take more than three years, creating a significant "window of vulnerability" if another major conflict were to erupt, particularly with China. Notably, CSIS estimates replenishment of stockpiles will take approximately 42 months for PAC-3 MSE interceptors and up to 53 months for THAAD systems.
This growing gap between supply availability and operational demand must have forced the Pentagon to aggressively push for a strong ramp-up in weapon production.
Benefits for Defense Majors & ETFsThe Pentagon's recent push for accelerated production translates directly into massive revenue growth opportunities for defense companies like Lockheed Martin (LMT - Free Report) , RTX Corp (RTX - Free Report) , Boeing (BA - Free Report) and General Dynamics (GD - Free Report) , which are the primary contractors for the missiles that suffered a depleted stockpile.
Lockheed, for instance, recently received a contract worth up to $58.6 billion to produce Patriot Advanced Capability-3 (PAC-3) MSE interceptors through fiscal 2032, while the Pentagon is working to triple Patriot production capacity and quadruple that for THAAD systems. RTX, which manufactures the Patriot system, and Lockheed Martin, which produces the PAC-3 interceptor, the latest version of the Patriot missile, are positioned to benefit substantially from these increased orders.
The accelerated procurement targets also include advanced radar systems from both companies, such as RTX's naval AN/SPY-6 and
Lockheed's land-based AN/TPY-6, ensuring sustained demand across multiple product lines.
The production surge extends to Boeing and General Dynamics, as the Pentagon seeks faster delivery of programs like the T-7A Red Hawk training aircraft and TAO-205 naval vessels.
As these production push served via multi-year defense contracts, they translate into strong backlogs and revenue expansion for the aforementioned defense stocks and ETFs holding them.
Defense ETFs to BuyConsidering the aforementioned discussion, this might be an ideal time for prudent investors to add the following ETFs to their portfolios to capture the upcoming rally in the defense industry without getting exposed to individual stock risk.
iShares U.S. Aerospace & Defense ETF (ITA - Free Report)
This fund, with net assets worth $15.07 billion, offers exposure to 49 U.S. aerospace and defense companies, including manufacturers of commercial and military aircraft. GE Aerospace holds the first spot in this fund, with 21.44% weightage, while RTX holds the second spot with 16.92% weightage. BA holds the third spot in this fund, with 9.25% weightage, while GD holds the fourth spot with 4.68% weightage. LMT holds the fifth spot in this ETF, with 4.63% weightage.
ITA has gained 17.3% year-to-date and charges 37 basis points (bps) in fees. It traded at a volume of 0.37 million shares in the last trading session and holds a Zacks ETF Rank #2 (Buy).
This fund, with a market value of $8.74 billion, offers exposure to 62 companies involved in the development, manufacturing, operations and support of U.S. defense, homeland security and aerospace operations. RTX holds the first spot in this fund, with 8.20% weightage, while BA holds the second spot with 7.01% weightage. LMT holds the fourth spot in this fund, with 6.52% weightage, while GD holds the fifth spot with 4.86% weightage.
PPA has rallied 17.5% year-to-date and charges 58 bps in fees. It traded at a volume of 0.12 million shares in the last trading session and holds a Zacks ETF Rank #2.
State Street SPDR S&P Aerospace & Defense ETF (XAR - Free Report)
This fund, with assets under management (AUM) worth $6.62 billion, offers exposure to 47 aerospace and defense companies. Karman Holdings holds the first spot in this fund, with 3.44% weightage, while RTX holds the fourth spot with 3.20% weightage. GD holds the seventh spot in this fund with 2.94% weightage, while LMT holds the eighth spot with 2.91% weightage.
XAR has soared 21.2% year-to-date and charges 35 bps in fees. It traded at a volume of 0.11 million shares in the last trading session and holds a Zacks ETF Rank #2.
AGNC Investment Corp. schválila měsíční hotovostní dividendu 0,12 USD na kmenovou akcii za srpen 2026. Vyplacena bude 10. září 2026 akcionářům k 31. srpnu 2026.
, /PRNewswire/ -- AGNC Investment Corp. (Nasdaq: AGNC) announced today that its Board of Directors has declared a cash dividend of $0.12 per share of common stock for August 2026. The dividend is payable on September 10, 2026 to common stockholders of record as of August 31, 2026.
For further information or questions, please contact Investor Relations at (301) 968-9300 or [email protected].
ABOUT AGNC INVESTMENT CORP.
Founded in 2008, AGNC Investment Corp. (Nasdaq: AGNC) is a leading investor in Agency residential mortgage-backed securities (Agency MBS), which benefit from a guarantee against credit losses by Fannie Mae, Freddie Mac, or Ginnie Mae. We invest on a leveraged basis, financing our Agency MBS assets primarily through repurchase agreements, and utilize dynamic risk management strategies intended to protect the value of our portfolio from interest rate and other market risks.
AGNC has a track record of providing favorable long-term returns for our stockholders through substantial monthly dividend income, with over $16 billion of common stock dividends paid since inception. Our business is a significant source of private capital for the U.S. residential housing market, and our team has extensive experience managing mortgage assets across market cycles. To learn more about The Premier Agency Residential Mortgage REIT, please visit www.AGNC.com, follow us on LinkedIn and X, and sign up for Investor Alerts.
Canadian National Railway v roce 2025-26 přepravila rekordních 33,8 mil. tun obilí ze západní Kanady. V červenci navíc dosáhla nového maxima 2,62 mil. tun.
Key Takeaways CNI moved a record 33.8 MMT of grain from Western Canada in the 2025-26 crop year. Canadian National Railway moved a record 2.62 MMT of grain in July, topping the prior July high. CNI's 2026-27 Grain Plan targets reliable service and capacity to handle the upcoming harvest. Canadian National Railway (CNI - Free Report) moved more than 33.8 MMT of grain from Western Canada, surpassing the previous record of 32.6 MMT set in the prior crop year. The record grain movement in the 2025-26 crop year highlights the strength of its network and its ability to meet elevated customer demand.
The strong performance also reflects effective coordination with customers and other supply-chain partners, along with consistent execution of CNI’s operating plan. The company’s ability to unlock incremental capacity supported higher volumes while strengthening service reliability across the grain supply chain.
CNI’s record July performance further reinforces this momentum. The company moved 2.62 MMT of grain during the month, exceeding the previous July record of 2.43 MMT set in 2020. Strong demand and efficient network operations are likely to remain supportive as the company enters the new crop year.
Looking ahead, Canadian National’s 2026-27 Grain Plan positions the company to handle the upcoming harvest with adequate resources and capacity. Continued focus on reliable service and operational execution should help CNI capitalize on grain demand and support volume growth in the upcoming crop year.
CNI Share Price PerformanceCNI’s shares have gained 34.5% over the past year compared with the Transportation - Rail industry’s 29.1% growth.
Image Source: Zacks Investment Research
CNI’s Zacks RankCanadian National Railway currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderInvestors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Teekay Tankers Ltd (TNK - Free Report) .
Expeditors currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EXPD has an expected earnings growth rate of 28.6% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 17.15%.
Teekay Tankers currently carries a Zacks Rank #2 (Buy).
TNK has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 10.9%.
INOVIO oznámilo, že FDA pokračuje v posuzování BLA pro INO-3107 s cílovým datem PDUFA 30. října 2026. Firma zároveň připravuje komerční spuštění pro případ schválení.
U.S. Food and Drug Administration (FDA) review of Biologics License Application (BLA) for INO-3107 as a treatment for Recurrent Respiratory Papillomatosis (RRP) advancing with a target Prescription Drug User Fee Act (PDUFA) date of October 30, 2026 Commercial preparations advancing in anticipation of potential product launch for INO-3107 Positive topline results reported from Phase 3 trial for VGX-3100 for the treatment of cervical dysplasia patients by ApolloBio, INOVIO's partner in China Presented promising data from next-generation DNA-Encoded Monoclonal Antibody (DMAb™) and DNA-Encoded Protein (DPROT) programs at several scientific conferences Current cash, cash equivalents, and short-term investments anticipated to fund operations into late first quarter 2027, through a potential launch of INO-3107, if approved , /PRNewswire/ -- INOVIO (NASDAQ: INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, today announced its financial results for the second quarter ended June 30, 2026 and provided an update on recent company developments.
"As the FDA's review of our BLA for INO-3107 continues to advance, we are pleased to have held the informal clinical meeting with the FDA, where we presented the totality of data supporting INO-3107's safety and efficacy and highly differentiated approach in treating RRP, and our rationale for accelerated approval eligibility," said Dr. Jacqueline Shea, INOVIO's President and Chief Executive Officer. "We are confident in INO-3107's potential to become the preferred product among patients, healthcare providers and payers, if approved, and are committed to ensuring that all patients have access to therapeutic options that work for them in reducing the need for surgery to control their disease. We look forward to the final stages of the review process and further advancing our commercial preparations."
Operational Highlights
INO-3107 – Recurrent Respiratory Papillomatosis (RRP)
The FDA's review of the BLA for INO-3107 continues to advance under the Agency's accelerated approval program toward a PDUFA target action date of October 30, 2026. Regulatory progress includes completion of the late-cycle review meeting and all scheduled pre-licensure inspections. An informal clinical meeting was conducted, where INOVIO presented the totality of data supporting INO-3107's safety and efficacy and highly differentiated approach in treating RRP, along with the company's rationale for accelerated approval eligibility. During the informal meeting, the FDA did not discuss its preliminary comment in the file acceptance letter regarding accelerated approval eligibility. In addition, the FDA stated that feedback on the confirmatory trial design would be forthcoming. INOVIO continues to believe that INO-3107 fulfills the criteria for accelerated approval by meeting an unmet clinical need and providing a meaningful therapeutic benefit over existing treatments.
In anticipation of a potential approval in 2026, INOVIO is preparing its commercial launch activities. Recently, INOVIO engaged Syneos Health to recruit and deploy Medical Science Liaisons (MSLs), and Syneos Health is also serving as the company's contract sales organization to support commercialization in the U.S. INOVIO has also engaged or identified key commercial partners, including a third-party logistics provider, Agency of Record, specialty distributor, specialty pharmacy, and patient hub.
The FDA previously granted INO-3107 both Orphan Drug and Breakthrough Therapy designations.
VGX-3100 – Cervical Dysplasia (High-grade Squamous Intraepithelial Lesions)
In May 2026, INOVIO's partner for VGX-3100 in Greater China, ApolloBio, announced positive topline results from its pivotal Phase 3 trial of VGX-3100 as a potential treatment for cervical dysplasia. The trial successfully met its predefined primary efficacy endpoint and demonstrated an overall favorable safety and tolerability profile. ApolloBio plans to use the results from the study to support a future filing for regulatory approval of VGX-3100 in China. VGX-3100 is INOVIO's investigational DNA immunotherapy developed for diseases associated with high-risk human papillomavirus (HPV) types 16 and 18.
Next-Generation DNA Medicine Candidates
INOVIO presented promising data from our next-generation DNA-Encoded Monoclonal Antibody (DMAb™) and DNA-Encoded Protein (DPROT) programs at the American Society of Gene and Cell Therapy Annual Meeting in May 2026 and the World Orphan Drug Congress in June 2026, highlighting positive preclinical data on Factor VIII production for Hemophilia A. INOVIO is continuing discussions with potential partners to accelerate development of this promising platform with a focus on developing additional DPROT indications in the rare disease space, including Fabry Disease and Hypophosphatasia (HPP).
General Corporate
INOVIO remains focused on financial discipline, directing resources to advance the INO-3107 program toward a potential 2026 approval and preparing for commercialization. The company strengthened its balance sheet with an underwritten public equity offering in July 2026. Net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, were approximately $18.3 million.
Second Quarter 2026 Financial Results
Research and Development (R&D) Expenses: R&D expenses for the three months ended June 30, 2026 decreased to $10.8 million from $14.5 million for the same period in 2025. The decrease was primarily the result of lower employee and consultant compensation, including stock-based compensation, lower engineering outside services related to our device development, and lower inventory expenses, among other variances. General and Administrative (G&A) Expenses: G&A expenses decreased to $7.8 million for the three months ended June 30, 2026 from $8.6 million for the same period in 2025. Total Operating Expenses: Total operating expenses decreased to $18.6 million for the three months ended June 30, 2026 from $23.1 million for the same period in 2025. Net Loss: INOVIO's net loss for the three months ended June 30, 2026 was $6.0 million, or $0.07 per basic and diluted share, compared to a net loss of $23.5 million, or $0.61 per basic and diluted share, for the three months ended June 30, 2025. The decrease in net loss was primarily driven by a $13.9 million non-cash gain on fair value adjustment related to our warrant liabilities for the three months ended June 30, 2026. As the fair value of the warrants fluctuates with our share price and other market inputs, this adjustment can result in significant variability in our reported net loss. Cash, Cash Equivalents and Short-term Investments: As of June 30, 2026, cash, cash equivalents and short-term investments were $36.7 million (excluding net proceeds from the July 2026 offering of approximately $18.3 million), compared to $58.5 million as of December 31, 2025. Cash Guidance
INOVIO estimates that current cash, cash equivalents and short-term investments balances will support operations into late first quarter 2027, through a potential launch of INO-3107, if approved. This projection includes the net proceeds of approximately $18.3 million from the public offering in July 2026, as well as an operational net cash burn estimate of approximately $18 million for the third quarter of 2026. These cash runway projections do not include any further capital-raising activities that INOVIO may undertake.
Conference Call / Webcast Information
INOVIO's management will host a live conference call and webcast with slides at 4:30 p.m. ET today to discuss INOVIO's financial results and provide a general business update. The live webcast and replay may be accessed by visiting INOVIO's website at http://ir.inovio.com/events-and-presentations/default.aspx.
About INOVIO's DNA Medicines Platform
INOVIO's DNA medicines platform has two innovative components: precisely designed DNA plasmids, delivered by INOVIO's proprietary investigational medical device, CELLECTRA. INOVIO uses proprietary technology to design its DNA plasmids, which are small circular DNA molecules that work like software the body's cells can download to produce specific proteins to target and fight disease. INOVIO's proprietary CELLECTRA delivery devices are designed to optimally deliver its DNA medicines to the body's cells without requiring chemical adjuvants or lipid nanoparticles and without the risk of the anti-vector response historically seen with viral vector platforms.
About INOVIO
INOVIO is a biotechnology company focused on developing and commercializing innovative DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.
Forward-Looking Statements
This press release contains certain forward-looking statements relating to our business, including the timing and success of preclinical studies and clinical trials; the ability to obtain and maintain regulatory approval of our product candidates; the FDA's continued review of our BLA for INO-3107 toward a PDUFA target action date of October 30, 2026; the outcome of our meeting with the FDA to discuss eligibility for the accelerated approval program, including feedback on our proposed confirmatory trial design; the potential benefits of INO-3107 and our other potential product candidates, including our belief that INO-3107 has a positively differentiated product profile and the potential to become the preferred product by patients and their physicians, if approved; the scope, progress and expansion of developing and commercializing our product candidates, including the anticipated commercial launch of INO-3107, if approved; our anticipated growth strategies; our ability to establish and maintain development partnerships; our estimated operational net cash burn of approximately $18 million for the third quarter of 2026; and the expected sufficiency of our cash resources through a potential launch of INO-3107, if approved, and into late first quarter 2027. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials, product development programs and commercialization activities and outcomes, the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA medicines, our ability to support our pipeline of DNA medicine products, the ability of our collaborators to attain development and commercial milestones for products we license and product sales that will enable us to receive future payments and royalties, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by us or collaborators, including alternatives that may be more efficacious or cost effective than any therapy or treatment that we and our collaborators hope to develop, issues involving product liability, issues involving patents and whether they or licenses to them will provide us with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether we can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of our technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and other filings we make from time to time with the Securities and Exchange Commission. There can be no assurance that any product candidate in our pipeline will be successfully developed, manufactured, or commercialized, that the results of clinical trials will be supportive of regulatory approvals required to market products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and we undertake no obligation to update or revise these statements, except as may be required by law.
CuriosityStream vykázal ve 2. čtvrtletí rekordní čistý zisk 8,9 mil. USD a upravený zisk před úroky, zdaněním a odpisy (EBITDA) 11,4 mil. USD. Zároveň zvýšil celoroční výhled tržeb i upraveného EBITDA.
Earnings Raised full year guidance for both revenue and adjusted EBITDA
Revenue of $23.2 million, up 22% or $4.2 million
Licensing revenue of $14.1 million, up 48%, driven by new partnerships
Record net income of $8.9 million, up 1,033% or $8.1 million
Record Adj. EBITDA of $11.4 million, up 276% or $8.3 million
EPS of $0.15 per share
Continued return of capital to shareholders through share repurchases and cash dividend of $0.085
SILVER SPRING, MD / ACCESS Newswire / August 12, 2026 / CuriosityStream Inc. (Nasdaq:CURI), a global factual entertainment company, today announced its financial results for the quarter ended June 30, 2026. In addition, the Company's Board of Directors declared the Company's third quarter cash dividend of $0.085 per share, payable on September 18, 2026, to stockholders of record on September 4, 2026.
"Curiosity delivered a record second quarter, demonstrating the earnings power of our differentiated content and data corpora and our efficient operating model," said Clint Stinchcomb, CuriosityStream's President and CEO. "Licensing revenue reached $14.1 million, supported by new partnerships across traditional media and AI training, while our gross margin expanded to 73%. The combination of strong licensing execution, sturdy subscription revenue and continued cost discipline drove record net income of $8.9 million and record adjusted EBITDA of $11.4 million."
"This was our sixth consecutive quarter of positive adjusted EBITDA, and we believe we are still in the early stages of realizing the full value of our IP," Stinchcomb continued. "We continue to expect a significant step-up in revenue and cash flow in 2026 compared with 2025 from our subscription and licensing efforts. Our licensing opportunity is built on three pillars: video licensing to traditional media; audio and video licensing for AI training; and private code licensing for AI training. With a robust pipeline we are raising our full-year revenue and adjusted EBITDA outlook while continuing to invest in growth and return capital to shareholders through dividends."
Second Quarter 2026 Financial Results
Revenue of $23.2 million, compared to $19.0 million in the second quarter of 2025;
Gross profit of $16.9 million or 72.8% gross margin, compared to $10.1 million or 53.4% gross margin in the second quarter of 2025;
Record net income of $8.9 million compared to a net income of $0.8 million in the second quarter of 2025.
Record adjusted EBITDA of $11.4 million, an increase of $8.3 million, compared to Adjusted EBITDA of $3.0 million in the second quarter of 2025, and the sixth sequential quarter of positive EBITDA;
Reduced operating expenses by $4.5 million, or 24.1%, compared to the second quarter of 2025;
Net cash used in operating activities of $3.0 million for the six months ended June 30, 2026, compared to net cash provided by operating activities of $4.7 million for the six months ended June 30, 2025;
Paid an ordinary dividend of $5.0 million and repurchased nearly $0.6 million in common shares; and
Cash, restricted cash and held-to-maturity securities balance of $10.9 million and no debt as of June 30, 2026.
Second Quarter 2026 Business Highlights
Licensed thousands of hours of traditional premium video to over 25 public broadcasters, streamers, paytv and digital first distributors;
Premiered Independence Dawn, new season of Butterfly Effect and over 160 films and series to SVOD and Paytv subscribers;
Licensed millions of tokens of code for AI training, reinforcement learning and evaluation;
Private code corpus of more than 880 billion tokens now available for virtually all aspects of AI training;
Licensed thousands of hours of synchronized multi-camera action sequences to a leading video research lab to train models on advanced video editing workflows;
Licensed 40,000 segment High Dynamic Range (HDR) dataset;
Seventh straight quarter of expanded data and video licensing partnerships for AI training, having now built a differentiated content library of rights to over three million hours of video and audio across multiple genres;
New subscription launches in Mexico and US with Apple, Sling, Dish and other partners; and
Continued enhancements in payments, billing and processing. May 2026 was the Company's best month in history for retention of involuntary churn.
Financial Outlook
CuriosityStream expects the following for the second half and full year of 2026:
Second-half 2026 revenue in the range of $38 - $41 million, and full-year 2026 revenue in the range of $77 - $82 million.
Second-half 2026 Adjusted EBITDA1 in the range of $6 - $10 million, and full-year 2026 Adjusted EBITDA1 in the range of $18 - $22 million.
December 31, 2026, cash and investments2 balance in the range of $17 - 22 million.
1 See Non-GAAP Financial Measures below.
2 Cash and investments consist of financial instruments, including cash and cash equivalents, restricted cash, investments in debt and other securities, and investments in equity method investees.
Conference Call Information
CuriosityStream will host a Q&A conference call today to discuss the Company's second quarter 2026 results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). A live audio webcast of the call will be available on the CuriosityStream Investor Relations website at https://investors.curiositystream.com. Participants may also dial-in toll free at (877) 407-9716 or International at (201) 493-6779 and reference conference ID# 13758750. An audio replay of the conference call will be available for two weeks following the call on the CuriosityStream Investor Relations website at https://investors.curiositystream.com.
Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, CuriosityStream's expectations or predictions of future financial or business performance or conditions, consumers' valuation of factual content, and the Company's continued success. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "predicts" or "intends" or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed under "Risk Factors" in CuriosityStream's Annual Report on Form 10-K for the year ended December 31, 2025, that CuriosityStream filed with the Securities and Exchange Commission (the "SEC") on March 12, 2026, and in CuriosityStream's other SEC filings. These risk factors are important to consider in determining future results and should be reviewed in their entirety.
Forward-looking statements are based on the current belief of the management of CuriosityStream, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and CuriosityStream is not under any obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that CuriosityStream has filed or will file from time to time with the SEC.
In addition to factors previously disclosed in CuriosityStream's reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks related to CuriosityStream's ability to maintain and develop new and existing revenue-generating relationships and partnerships or to significantly increase CuriosityStream's subscriber base and retain customers; (ii) the effects of pending and future legislation; (iii) risks of the internet, online commerce and media industry; (iv) the highly competitive nature of the internet, online commerce and media industry and CuriosityStream's ability to compete therein; (v) litigation, complaints, and/or adverse publicity; and (vi) privacy and data protection laws, privacy or data breaches, or the loss of data.
Non-GAAP Financial Measures
To supplement our unaudited consolidated statement of operations, which is prepared in accordance with GAAP, we present Adjusted EBITDA and Adjusted Free Cash Flow in this press release. Our use of non-GAAP financial measures, such as Adjusted EBITDA and Adjusted Free Cash Flow, has limitations as an analytical tool, and these measures should not be considered in isolation or as a substitute for analysis of financial results as reported under GAAP.
The Company is not able to provide expectations of net cash generated from operating activities, the closest comparable GAAP measure to Adjusted Free Cash Flow (a non-GAAP measure), on a forward-looking basis. The Company is unable to predict without unreasonable costs and efforts the ultimate amounts of certain cash receipts and outlays because, in part, such items may have not yet occurred, are out of the Company's control and/or cannot be reasonably predicted. These items are further described in the reconciliation tables and related descriptions below. Further, these items are uncertain, depend on various factors and could be material to the Company's results computed in accordance with U.S. GAAP.
We use these non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including in the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance. These measures provide consistency and comparability with past financial performance, facilitate period-to-period comparisons of core operating results, and also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. In addition, Adjusted EBITDA and Adjusted Free Cash Flow are widely used by investors and securities analysts to measure a company's operating performance. We exclude the following items from net income to calculate Adjusted EBITDA: interest and other income (expense), provision for income taxes, depreciation and non-content amortization, loss/(gain) on the change in fair value of our warrants, equity interests loss (gain), impairment of goodwill, intangible assets and content assets, restructuring charges and stock-based compensation. Adjusted Free Cash Flow is calculated as net cash flow used in operating activities less purchases of property and equipment, restructuring charges and nonrecurring license fees.
Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, (1) although depreciation and amortization expense are non-cash charges, the assets subject to depreciation and amortization may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (2) Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; or (b) tax payments that may represent a reduction in cash available to us; and (3) Adjusted Free Cash Flow does not reflect: (a) our cash flow available for discretionary payments; (b) our future contractual commitments (such as any debt service requirements or dividend payments); (c) funds available for investment or other discretionary uses; (d) certain capital expenditure requirements; or (e) the total increase or decrease in our cash balances for the stated period. The non-GAAP financial measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. A reconciliation of these non-GAAP financial measures has been provided in the financial statements tables included in this press release and investors are encouraged to review the reconciliation.
About CuriosityStream Inc.
CuriosityStream Inc. (Nasdaq:CURI) is the entertainment brand for people who want to know more. The global media company is home to award-winning original and curated factual films, shows, and series covering science, nature, history, technology, society, and lifestyle. CuriosityStream is also a leading provider of AI model training datasets, leveraging one of the world's largest and most valuable rights-cleared media corpora. The company's portfolio spans millions of hours of premium video and audio, 880 billion tokens of production-grade code rich with developer context, and dozens of bespoke datasets created with proprietary content intelligence tools. CuriosityStream's data licensing partnerships enable leading technology companies to train and fine-tune generative, agentic, and physical AI systems that will power the next era of infrastructure and enterprise capabilities.
CuriosityStream also reaches millions of subscribers worldwide, operating the flagship Curiosity Stream SVOD service; Curiosity Channel, the linear television channel available via global distribution partners; Curiosity University, featuring talks from the best professors at the world's most renowned universities as well as courses, short and long-form videos, and podcasts; Curiosity Now, Curiosity History, Curiosity Animals, Curiosity Explora, and other free, ad-supported channels; Curiosity Audio Network, with original content and podcasts; and Curiosity Studios, which oversees original programming. For more information, visit CuriosityStream.com.
CuriosityStream Inc.
Condensed Consolidated Balance Sheets
(unaudited and in thousands)
June 30,
2026
December 31,
2025
Assets
Current assets
Cash and cash equivalents
$
5,379
$
18,318
Restricted cash
60
60
Short-term investments in debt and other securities
1,496
8,966
Accounts receivable, net
6,402
8,893
Other current assets
2,994
1,198
Total current assets
16,331
37,435
Investments in debt securities
3,920
-
Investments in equity method investees
3,733
3,668
Property and equipment, net
341
404
Content assets, net
32,502
31,000
Licensing fee receivable, net of current portion
5,967
-
Operating lease right-of-use assets
2,605
2,763
Other assets
2,066
461
Total assets
$
67,465
$
75,731
Liabilities and stockholders' equity
Current liabilities
Content liabilities
$
61
$
362
Accounts payable
4,316
9,449
Accrued expenses and other liabilities
8,218
12,094
Deferred revenue
8,226
8,409
Total current liabilities
20,821
30,314
Non-current operating lease liabilities
3,234
3,460
Other liabilities
1,948
470
Total liabilities
26,003
34,244
Commitments and contingencies (Note 13)
Stockholders' equity
Common stock, $0.0001 par value - 125,000 shares authorized as of June 30, 2026, and December 31, 2025; 59,594 shares issued as of June 30, 2026 and 58,950 issued as of December 31, 2025, including 489 and 216 treasury shares; 59,105 and 58,734 shares outstanding as of June 30, 2026. and December 31, 2025, respectively.
5
5
Treasury stock
(1,122
)
(251
)
Additional paid-in capital
381,034
377,577
Accumulated deficit
(338,455
)
(335,844
)
Total stockholders' equity
41,462
41,487
Total liabilities and stockholders' equity
$
67,465
$
75,731
CuriosityStream Inc.
Condensed Consolidated Statements of Operations
Three Months Ended
June 30,
Six Months Ended
June 30,
(unaudited and in thousands except per share amounts)
2026
2025
2026
2025
Revenues
$
23,245
$
19,012
$
38,406
$
34,102
Operating expenses
Cost of revenues
6,313
8,864
12,970
15,944
Advertising and marketing
1,900
3,275
5,415
6,209
General and administrative
5,852
6,393
12,385
11,390
14,065
18,532
30,770
33,543
Operating income
9,180
480
7,636
559
Change in fair value of warrant liability
-
(79
)
-
(86
)
Interest and other income
101
424
311
850
Equity method investment income (loss)
35
(156
)
65
(307
)
Income before income taxes
9,316
669
8,012
1,016
Provision for (benefit from) income taxes
434
(115
)
458
(87
)
Net income
$
8,882
$
784
$
7,554
$
1,103
Net income per share
Basic
$
0.15
$
0.01
$
0.13
$
0.02
Diluted
$
0.15
$
0.01
$
0.12
$
0.02
Weighted average number of common shares outstanding
Basic
59,190
57,585
59,070
57,357
Diluted
60,607
58,745
60,534
58,489
CuriosityStream Inc.
Condensed Consolidated Statements of Cash Flows
Six Months Ended
June 30,
(unaudited and in thousands)
2026
2025
Cash flows from operating activities
Net income
$
7,554
$
1,103
Adjustments to reconcile net income to net cash (used in) provided by operating
Change in fair value of warrant liability
-
86
Additions to content assets
(9,543
)
(4,179
)
Change in content liabilities
(301
)
120
Amortization of content assets
8,041
7,113
Depreciation and amortization expenses
88
83
Bad debt expenses
48
(61
)
Loss on disposal of assets
170
-
Amortization of premiums and accretion of discounts associated with investments
(34
)
(354
)
Stock-based compensation
4,101
3,077
Equity method investment (income) loss
(65
)
307
Other non-cash items
102
145
Changes in operating assets and liabilities
Accounts receivable
(3,811
)
(5,190
)
Other assets
(1,174
)
335
Accounts payable
(5,134
)
(521
)
Accrued expenses and other liabilities
(2,861
)
4,023
Deferred revenue
(131
)
(1,376
)
Net cash (used in) provided by operating activities
(2,950
)
4,711
Cash flows from investing activities
Purchases of property and equipment
-
(77
)
Business acquisitions
(1,954
)
-
Sales of investments in debt securities
$
1,000
2,000
Maturities of investments in debt securities
$
6,500
17,450
Purchases of investments in debt securities
$
(3,915
)
(11,070
)
Net cash provided by investing activities
$
1,631
8,303
Cash flows from financing activities
Repurchases of common stock
(871
)
-
Dividends paid
$
(9,889
)
(12,665
)
Payments related to tax withholding
$
(730
)
(1,297
)
Payment of debt issuance costs
$
(130
)
-
Net cash used in financing activities
$
(11,620
)
(13,962
)
Net decrease in cash, cash equivalents and restricted cash
(12,939
)
(948
)
Cash, cash equivalents and restricted cash, beginning of period
18,378
7,951
Cash, cash equivalents and restricted cash, end of period
5,439
7,003
Supplemental non-cash operating activities:
Disposition of assets in exchange for a non-cash receivable in connection with the
$
250
$
-
Supplemental disclosure:
Income tax refunds received, net of payments
$
12
$
84
Cash paid for operating leases
$
(290
)
$
(235
)
CuriosityStream Inc.
Reconciliation from Net Income to Adjusted EBITDA
Three Months Ended
June 30,
Six Months Ended
June 30,
(unaudited and in thousands)
2026
2025
2026
2025
Net Income
$
8,882
$
784
$
7,554
$
1,103
Change in fair value of warrant liability
-
79
-
86
Interest and other income
(101
)
(424
)
(311
)
(850
)
Provision for (benefit from) income taxes
434
(115
)
458
(87
)
Equity method investment income (loss)
(35
)
156
(65
)
307
Depreciation and amortization1
47
42
88
83
Restructuring2
-
13
-
36
Other nonrecurring3
281
273
452
366
Stock-based compensation
1,860
2,214
4,101
3,077
Adjusted EBITDA
$
11,368
$
3,022
$
12,277
$
4,121
1 Amounts do not include amortization of content assets.
2 Consists primarily of severance and other costs associated with ongoing workforce optimization.
3 Consists of nonrecurring license, risk mitigation expenses, and loss on asset disposal associated with the Curiosity Brands, LLC transaction.
CuriosityStream Inc.
Reconciliation from Net Cash Flow provided by Operating Activities to Adjusted Free Cash Flow
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)
2026
2025
2026
2025
Net cash flow provided by operating activities
$
(4,160
)
$
2,789
$
(2,950
)
$
4,711
Purchases of property and equipment
$
-
-
-
(77
)
Restructuring payments1
-
13
-
59
Other nonrecurring payments2
105
59
170
174
Adjusted Free Cash Flow
$
(4,055
)
$
2,861
$
(2,780
)
$
4,867
1 Consists primarily of severance and ongoing workforce optimization.
2 Consists primarily of payments related to risk mitigation efforts.
Applied Materials čeká ve 3. čtvrtletí rekordní výnosy 9,00 miliardy USD a EPS 3,39 USD. Akcie jsou letos výše o 105,1 %, ale od červnového maxima jsou níže o 25 %.
Applied Materials (NASDAQ:AMAT) looks to get its stock back to all-time highs when the company reported third-quarter financial results Thursday after market close.
Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.
Applied Materials Q3 EarningsAnalysts expect Applied Materials to report third-quarter revenue of $9.00 billion, up from $7.30 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in four straight quarters and in nine of the last 10 quarters overall.
The estimate calls for record revenue, surpassing the $7.91 billion reported in the second quarter by the company.
Analysts expect Applied Materials to report third-quarter earnings per share of $3.39, up from $2.48 in last year’s third quarter.
The company has beaten analyst estimates for earnings per share in more than 10 straight quarters.
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Applied Materials Analyst RatingsBank of America Securities analysts highlighted Applied Materials as an AI-related stock to consider buying after a pullback in July. Analyst Vivek Arya said the selloff creates an entry point after hitting all-time highs on June 30 and falling in July.
The analyst rated Applied Materials with a Buy rating and $720 price target in July.
Arya said Applied Materials is the largest and most diversified name in the group, giving exposure to many corners of the upcycle.
With shares trading at 28 times forward earnings estimates at the time of the note, Arya said this was the widest discount to peers in five years.
Here are recent analyst ratings on Applied Materials and their price targets:
William Blair: Assumes with Market Perform rating, no price target UBS: Maintained Buy rating, raised price target from $570 to $705 Stifel: Maintained Buy rating, raised price target from $530 to $650 Needham: Maintained Buy rating, raised price target from $530 to $740 Key Items to WatchApplied Materials has been one of the hottest stocks in major indexes in 2026, but shares are currently down 25% from all-time highs set back on June 30.
The stock is a member of major indexes and a key holding in semiconductor ETFs, which could make any volatility in shares after the earnings report felt sector wide. Here are some of the top ETFs that have AMAT stock and their exposure:
SPDR S&P 500 ETF Trust (NYSE:SPY): 0.6%, 25th largest holding Invesco QQQ Trust (NASDAQ:QQQ): 1.8%, 16th largest holding iShares Semiconductor ETF (NASDAQ:SOXX): 5.0%, 6th largest holding VanEck Semiconductor ETF (NASDAQ:SMH): 4.8%, 7th largest holding The semiconductor company looks to gain momentum again and get shares back to all-time highs.
Analysts expect record results, which could ramp up the pressure on the company.
Second-quarter revenue was up 11% year-over-year, with the company highlighting strong leadership positions in several sectors. In the company’s guidance, they said semiconductor equipment segment revenue is expected to be up 30% year-over-year in calendar 2026, up from prior guidance of 20% year-over-year.
That optimism and strong guidance from the company could be enough to power record results.
The question is how much of a beat is needed from the company, or how strong guidance needs to be going forward, for investors to be excited and send shares higher.
Applied Materials Stock Price ActionApplied Materials stock is up 5.0% to $551.68 on Wednesday versus a 52-week trading range $154.46 to $739.67. Applied Materials stock is up 105.1% year-to-date in 2026.
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Corteva zvýšila výhled na rok 2026, když očekává operating EBITDA ve výši 4,1–4,3 miliardy USD po 4% růstu tržeb v segmentu Seed v prvním pololetí. Zároveň ale varuje před cenovým tlakem v segmentu Crop Protection a riziky spojenými s oddělením firem.
Key Takeaways Corteva's Seed sales rose 4%, supported by technology demand, pricing and improved royalty economics.Corteva raised 2026 EBITDA guidance to $4.1-$4.3 billion as productivity actions boost earnings.Corteva faces Crop Protection pricing pressure and execution risks ahead of its planned Oct. 1 separation. Corteva, Inc. (CTVA - Free Report) is showing improving earnings momentum as technology adoption, productivity actions and a stronger Seed business support growth. However, the stock’s valuation and ongoing Crop Protection pricing pressures keep the risk-reward balance more measured. The stock currently carries a Zacks Rank #3 (Hold), with a price target of $81.00 versus a share price of $76.22 as of Aug. 11, 2026.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Corteva delivered a solid first half of 2026, with net sales increasing 4% year over year to $11.28 billion and operating EBITDA rising 10% to $3.70 billion. Operating EPS increased 14% to $3.80. Management raised its full-year outlook and now expects operating EBITDA of $4.1-$4.3 billion and operating EPS of $3.60-$3.80 per share.
Growth Drivers Remain in PlaceThe Seed segment continues to be the primary growth contributor. First-half Seed net sales increased 4% to $7.56 billion, helped by higher price/mix, demand for differentiated germplasm and trait technologies and improved royalty economics. Segment operating EBITDA increased 11% to $3 billion, supported by pricing actions and lower royalty expense.
Corteva’s Crop Protection business is also benefiting from new product adoption. In the first half of 2026, Crop Protection sales increased 3%, with volume growth from new products helping offset a 3% pricing decline caused by competitive conditions, particularly in Latin America.
Productivity initiatives remain another earnings driver. Management cited more than $160 million in cost improvements from lower input costs, manufacturing efficiencies and productivity programs during the first half of 2026.
Separation Adds a Near-Term Execution RiskCorteva is preparing to separate its businesses into two standalone public companies, targeting completion on Oct. 1, 2026. Management has reported that run-rate dis-synergies are largely offset, but remaining steps include final capital structures, Form 10 effectiveness and IT separation activities.
The transition could require additional management focus as Corteva prepares both businesses to operate independently. The company included a $25 million headwind in 2026 guidance related to separation timing.
Valuation Leaves Less Room for ErrorCorteva’s valuation reflects some of the expected earnings improvement. The stock trades at 19.6X forward 12-month earnings, with a PEG ratio of 2.2X. Its Zacks Style Scores include a Value Score of D, Growth Score of F, Momentum Score of C and VGM Score of F.
Image Source: Zacks Investment Research
While earnings growth expectations have improved, valuation remains a concern if Crop Protection pricing pressure persists or separation-related costs weigh on results.
Corteva competes within the broader agricultural sector alongside companies such as Archer Daniels Midland Company (ADM - Free Report) and Adecoagro S.A. (AGRO - Free Report) . Corteva focuses primarily on agricultural technology solutions, including seeds and crop protection products, while ADM operates a large-scale agricultural processing and commodities platform and AGRO has exposure to farming, sugar, ethanol and agricultural production assets.
Bottom LineCorteva’s improving fundamentals are supported by Seed technology demand, new Crop Protection products and cost discipline. The company has raised its 2026 outlook and continues to execute on its separation plan. However, elevated valuation, competitive pricing pressure and execution risks around the separation limit near-term upside potential.
Given the balance between improving earnings trends and valuation concerns, CTVA appears more suitable for investors seeking exposure to agricultural technology growth but willing to accept moderate near-term upside potential.
Computer Modelling Group oznámila za 1. fiskální čtvrtletí tržby C$27,8 milionu, meziročně nižší, protože růst z akvizic převážil pokles organických tržeb. Management zároveň potvrdil celoroční výhled stabilních organických opakujících se tržeb a bez poklesu upravené EBITDA oproti fiskálnímu roku 2026.
Computer Modelling Group TSE: CMG said first-quarter fiscal 2027 revenue declined as growth from recent acquisitions was outweighed by lower organic revenue and a planned reduction in non-core professional services work, while management reaffirmed its full-year outlook for stable organic recurring revenue and no reduction in adjusted EBITDA from fiscal 2026.
Total revenue for the quarter was C$27.8 million, down year over year. Chief Financial Officer Vipin Khullar said 10% growth from acquisitions was offset by a 16% organic decline. Organic recurring revenue fell 12% during the quarter, which Chief Executive Officer Pramod Jain said marked the final period affected by the comparison with a contract lost last year.
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“Our outlook is for stabilization to return to the business,” Jain said, adding that the company remains focused on organic growth, acquisitions and capital deployment toward what it considers the highest risk-adjusted-return opportunities.
Acquisition Growth Offsets Part of Organic Decline Recurring revenue declined 3% overall in the first quarter. Khullar said acquired businesses contributed 9% recurring revenue growth, including SeisWare and Rose, which were acquired during fiscal 2026. Both acquisitions contributed positively to adjusted EBITDA in the quarter despite seasonal revenue recognition that is weighted toward the second half of the year, he said.
Professional services revenue also declined organically. Khullar attributed the drop primarily to the end of CoFlow-related development funding at the close of calendar 2025 and the continuing wind-down of non-core professional services activity at Bluware. He said CMG had underwritten the Bluware acquisition based on its software growth potential and expected non-core services to be phased out.
Rose partly offset that reduction, with acquired professional services revenue rising 13% and Rose producing a strong first full quarter under CMG ownership, according to Khullar.
Adjusted EBITDA and adjusted EBITDA margin decreased in the quarter because of lower organic recurring revenue and professional services revenue, though the company cited continued cost management. Free cash flow fell to C$3.5 million, reflecting revenue trends and higher income taxes.
Current income tax expense was C$1.5 million, compared with C$900,000 a year earlier. Khullar said the current-quarter amount included a C$400,000 prior-period adjustment and noted that tax expense can fluctuate depending on the jurisdictional mix of income, taxation of cross-border transactions and foreign exchange movements.
Management Reaffirms Full-Year Outlook For the second quarter, CMG expects organic recurring revenue to increase sequentially as a larger portion of renewals occurs in the period. Khullar said the company’s recurring revenue typically builds through the fiscal year, with the first quarter usually its lightest and the fourth quarter generally its heaviest.
However, CMG expects professional services revenue to decline both sequentially and year over year in the second quarter. The company expects the period to be the fiscal year’s lowest quarter for professional services, citing the completion of the Bluware services wind-down, product timing and lower billable activity during summer months.
CMG also expects adjusted EBITDA to decline sequentially and year over year in the second quarter, driven by lower professional services revenue and higher sales and marketing expenses tied to agent commissions on second-quarter contract renewals.
Stable organic recurring revenue growth for fiscal 2027. No reduction in adjusted EBITDA relative to fiscal 2026. Year-over-year improvement in free cash flow. A professional services revenue decline of C$6 million to C$7 million for the year, toward the higher end of the range. Khullar said the revised professional-services outlook reflects a faster-than-forecast wind-down of Bluware’s non-core services operations.
Energy Security and EOR Opportunities Jain said customer discussions point to greater interest in maximizing recovery from existing assets, including through enhanced oil recovery, or EOR, technologies. He said operators are targeting recovery factors as high as 50% and that CMG is directing sales efforts toward the growing importance of EOR globally.
Management also cited increased opportunities for its portfolio approach, in which customers can use multiple technologies from CMG’s acquired businesses alongside its reservoir simulation products. Jain said CMG is increasingly pursuing joint proposals involving two or three companies in its group.
He highlighted renewed interest from international operators in Venezuela, Mexico, Algeria, Angola, Nigeria and Libya, describing those locations as markets with complex reservoirs, heavy oil and mature fields. Jain cautioned that it remains early but said the company sees opportunities developing across the group.
During the question-and-answer session, Jain said EOR processes can take time to move from requests for proposals to commercial wins, but he is seeing more opportunities nearer to commercialization than in the past. He also said CMG renewed all of its contracts in the Middle East, though prospective business in countries where it did not previously have a presence was delayed by regional conflict.
Share Repurchase to Be Funded Through Credit Facility CMG announced a substantial issuer bid and expects to draw up to C$20 million from its existing credit facility to fund it. Jain said the company believes its shares are trading below what the business is worth and views the repurchase as an opportunistic use of capital while maintaining its acquisition strategy.
Over the past two-and-a-half years, CMG has deployed more than C$90 million and completed four major acquisitions. Jain said the acquisition pipeline remains active, but the company is maintaining its standards on price and expected returns.
Khullar said expected fiscal 2027 free cash flow should be more than sufficient to deleverage the portion of the credit facility used to fund the issuer bid. Jain said acquisitions and buybacks are not mutually exclusive, and that CMG intends to continue pursuing transactions that meet or exceed its return thresholds.
About Computer Modelling Group (TSE:CMG)Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. Its capabilities include integrated analysis and optimization, black oil and unconventional simulation, reservoir and production system modelling, post-processor visualization, compositional simulation, thermal processes simulation, and fluid property characterization. The firm has operations in over 60 countries in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.
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Aehr Test Systems vstupuje do fiskálního roku 2027 s rekordními objednávkami 60,7 milionu USD a efektivním backlogem kolem 100,6 milionu USD. Akcie za poslední měsíc vzrostly o 72,2 %.
Key Takeaways Aehr Test Systems enters fiscal 2027 with record bookings and an effective backlog near $100.6M.AI processors, silicon photonics and power devices are driving demand for AEHR's test systems.AEHR trades at 24.62X forward sales, well above its industry average of 6.32X. Over the past month, Aehr Test Systems, Inc. (AEHR - Free Report) has surged 72.2%, easily beating the broader industry, which has gained 7.4%. The S&P 500 has risen 2.9% over the same period. Among comparable stocks, Teradyne, Inc. (TER - Free Report) has advanced 11.3%, while Cohu, Inc. (COHU - Free Report) has been flat.
The rally reflects a change in how investors view AEHR’s growth prospects. Record fourth-quarter fiscal 2026 bookings of $60.7 million and an effective backlog of about $100.6 million gave the market greater confidence in demand. The company expects significant fiscal 2027 revenue growth, supported by rising demand for semiconductor test and burn-in systems used in AI processors, silicon photonics and power devices.
AEHR One-Month Price Performance Comparison Image Source: Zacks Investment Research
The expanding order pipeline is also improving revenue visibility, as AEHR moves several customer programs toward production. Together, the strong order momentum, substantial backlog and exposure to fast-growing AI and data-center applications are driving the stock higher.
Estimates for AEHR Signal Continued GrowthFor fiscal 2027, the Zacks Consensus Estimate for Aehr Test Systems’ EPS is projected at 70 cents, a sharp increase from 3 cents a year ago. For fiscal 2028, the estimate is pegged at $1.54, indicating another 120% increase. Moreover, analysts project fiscal 2027 revenues of $140.20 million, up 180.4%, followed by $215.65 million in fiscal 2028, implying another 53.8% increase.
AEHR has topped earnings estimates in three of the past four quarters and met once, delivering an average earnings surprise of 321.9%.
AI Leads a Broadening Growth StoryAEHR is currently benefiting from several overlapping growth drivers, with AI-related semiconductor testing emerging as the most important. Its lead hyperscale customer is ramping AI processors and increasing its need for the company’s wafer-level and package-level burn-in systems. Management expects this customer’s system purchases and WaferPak requirements to increase significantly over the next several years.
Silicon photonics is becoming a major new opportunity as AI data centers increasingly use optical I/O and high-speed interconnects. Aehr already has a lead silicon-photonics customer ramping production and a newer major networking customer forecasting additional systems for hyperscale deployments. In early August, the company received a follow-on production order from its lead silicon photonics customer for a fully automated FOX-XP multi-wafer burn-in system, scheduled to ship in the first half of 2027.
Recovery in silicon carbide, particularly for EVs, is another growth avenue, which provides diversification benefits. Aehr received more than $8 million of SiC orders in the month before its July results, including orders connected to automotive programs. Management also expects renewed GaN and SiC demand from AI data-center power infrastructure.
Aehr is pursuing wafer-level burn-in opportunities in memory, including NAND flash and potential high-bandwidth memory (HBM) applications. The company is working with multiple memory suppliers as they prepare additional capacity.
Cash Gives AEHR Room to GrowAEHR's balance sheet provides a solid financial cushion, with cash and cash equivalents rising to $116.4 million as of May 29, 2026. The sizable cash position, bolstered by a public equity offering, should give the company flexibility to support capacity expansion and working-capital needs as it prepares for rapid growth in fiscal 2027.
Growth Comes at a Steep PriceThe market is already assigning AEHR a premium for its growth potential. The stock currently trades at 24.62X forward sales, above the industry average of 6.32X and its three-year median multiple of 6.05X. That premium leaves less room for disappointment.
For comparison, Teradyne trades at 10.50X forward sales, while Cohu trades at 3.61X.
Image Source: Zacks Investment Research
Risks Investors Should WatchAEHR’s biggest challenge is turning its opportunity into consistent financial results. The company depends on a relatively small group of large customers, with its lead hyperscale AI customer playing an especially important role. Delays in production ramps or changes in customer spending could make results volatile.
AEHR's business remains exposed to the capital-spending cycles of semiconductor manufacturers. Even though AI is creating strong demand, spending can be lumpy, and customer orders can shift between quarters.
Execution against elevated expectations remains a key risk. AEHR has an impressive backlog and significant AI opportunities, but the stock’s sharp run-up has raised the bar for future results. Investors will now want to see that the backlog translates into sustained revenue and earnings growth while AEHR simultaneously ramps manufacturing capacity.
Our Call: Buy AEHR Stock NowAehr Test Systems is entering fiscal 2027 with strong momentum, supported by record bookings, a sizable backlog and growing demand from AI, silicon photonics and power semiconductor markets. The sharp rise in earnings and revenue estimates further strengthens the growth case.
However, AEHR’s premium valuation and reliance on a limited number of large customers leave little room for execution missteps. Investors will be watching how quickly the company converts its backlog into revenues while expanding capacity to meet demand. Despite these risks, the strong growth outlook and favorable estimate trends support a Zacks Rank #1 (Strong Buy) for AEHR, reflecting an attractive near-term setup. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bloom Energy letos vzrostla o 143 % díky poptávce po energii pro AI datacentra a omezením sítě. Odhady zisku pro roky 2026 a 2027 za posledních 30 dní stouply o 25 % a 12,5 %.
Key Takeaways Bloom Energy has gained 143% YTD, outperforming its industry, sector and the S&P 500.BE is benefiting from AI data-center demand, grid constraints and growing adoption of onsite power.Bloom Energy's 2026 and 2027 earnings estimates have risen 25% and 12.5%, respectively, in the past 30 days. Bloom Energy Corporation (BE - Free Report) has gained 143% year to date, outperforming the Zacks Alternative Energy - Other industry’s increase of 6.3%, the Zacks Oil & Energy sector’s increase of 28.6% and the S&P 500’s gain of 12.5% in the same time frame.
Bloom Energy is a global leader in onsite power generation, gaining from increasing demand for clean energy from AI-driven data centers, as well as from customers increasingly adopting distributed energy solutions to bypass transmission and distribution constraints.
BE vs Industry, Sector, S&P 500 YTD
Image Source: Zacks Investment Research
Shares of other industry players like Talen Energy (TLN - Free Report) have lost 4.6% in the past three months, while those of Plug Power (PLUG - Free Report) have gained 12.7%.
Is Bloom Energy Expensive?Bloom Energy is currently trading at a premium valuation. Its forward 12-month price-to-sales (P/S) ratio of 11.14X stands higher than the industry’s 5.03X and the median of 2.81X over the last five years.
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BE is expensive compared with other industry players like Talen Energy and Plug Power.
The Case for Bloom EnergyBloom Energy is expanding its onsite power platform to address electricity shortages, lengthy deployment timelines and rising energy costs. The company is positioned to benefit from several long-term trends, including rapid growth in AI infrastructure, grid capacity constraints, increasing demand for dependable and affordable electricity, and government support for energy independence and domestic manufacturing.
Its Energy Server platform provides scalable on-site electricity by connecting directly to customers’ electrical systems, thus reducing dependence on traditional transmission networks. Powered by Bloom Energy’s proprietary solid oxide technology, the platform generates electricity through an efficient electrochemical process, delivering reliable and cleaner energy to commercial and utility customers. Its adoption is expected to increase among AI data centers, cryptocurrency mining operations, advanced manufacturers and other energy-intensive industries.
Management highlighted the company’s accelerating growth on its latest earnings call. Bloom Energy took 21 years to record its first $1 billion revenue year in 2022 and another three years to double that figure. It now expects to double revenues again in just one year.
Bloom Energy and Brookfield also recently expanded their strategic partnership, raising planned investment in AI-related power infrastructure from $5 billion to $25 billion. This fivefold increase reflects surging electricity demand driven by the global development of hyperscale AI data centers.
Meanwhile, Bloom Energy continues investing in research and development to improve system performance, lower manufacturing costs and strengthen profitability. Over the long term, the company aims to establish its solid oxide fuel-cell technology as the preferred on-site power solution for data centers, critical infrastructure and other energy-intensive applications.
Optimistic Growth Estimate for BEThe Zacks Consensus Estimate for 2026 and 2027 revenues implies 104.3% and 57% year-over-year increases, respectively.
The consensus estimate for 2026 and 2027 earnings implies 239.5% and 85.16% year-over-year increases, respectively. The company has a Growth Score of A. The expected long-term earnings growth rate is pegged at 38%, much higher than the industry average of 17.1%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Bloom Energy’s 2026 and 2027 earnings has moved 25% and 12.5% north in the last 30 days, reflecting analysts' optimism in the stock.
The Zacks Consensus Estimate for 2026 EPS of Talen Energy has moved south, but the same for 2027 has moved north in the last 30 days.
On the other hand, the Zacks Consensus Estimate for 2026 and 2027 EPS of Plug Power witnessed no movement in the last 30 days.
BE Stock Returns Better Than Its IndustryReturn on equity (“ROE”) measures how well a company is utilizing its shareholders’ funds to generate profits. ROE compares net income with shareholders' equity.
ROE of Bloom Energy was 54.8% compared with the industry average of 7.2%.
Parting Thoughts on BEBloom Energy continues to deliver strong results, supported by rising demand for cleaner energy and its ability to provide reliable, rapidly deployable power solutions. Its customized onsite energy systems enable customers to reduce their reliance on traditional grid infrastructure, creating a solid foundation for future growth. The company also presents an attractive investment opportunity, backed by improving earnings expectations, strong share-price momentum and a return on equity above the industry average.
Thus, despite premium valuation at the current levels, we recommend investors add this Zacks Rank #1 (Strong Buy) stock to their portfolios. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACADIA Pharmaceuticals čeká na data fáze II k remlifanserinu v Alzheimerově psychóze v září až říjnu. Firma zároveň rozšiřuje komerční dosah DAYBUE a NUPLAZID.
Acadia Pharmaceuticals: A Mid-Cap Biotech Making Large MovesACADIA Pharmaceuticals NASDAQ: ACAD outlined commercial expansion plans for its marketed therapies, DAYBUE and NUPLAZID, while highlighting upcoming clinical data for remlifanserin in Alzheimer’s disease psychosis during a discussion hosted by Canaccord Genuity.
Thomas Garner, Acadia’s chief commercial officer, said the company’s commercial strategy has centered on disease education, targeted outreach to healthcare providers and focused execution in both Parkinson’s disease psychosis and Rett syndrome.
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NUPLAZID Growth Strategy Garner said NUPLAZID, Acadia’s treatment for Parkinson’s disease psychosis, has continued to gain traction. New-to-brand prescriptions rose 20% year over year in the most recent quarter, he said.
The company has focused on raising awareness that hallucinations and delusions can occur during the course of Parkinson’s disease, while also educating healthcare providers about treatment options. Garner said Acadia estimates that about 1 million people in the U.S. are living with Parkinson’s disease and that roughly half may experience hallucinations and delusions during their disease course.
Acadia’s “More to Parkinson’s” awareness campaign, involving actor Ryan Reynolds, has contributed to a threefold increase in awareness of Parkinson’s disease psychosis among people living with Parkinson’s disease over the past two to three years, according to Garner.
To expand NUPLAZID’s reach, Acadia increased its sales force by roughly 40% earlier this year. The expansion increased the number of healthcare providers targeted by the company from approximately 5,000 to 6,000 to roughly 10,000 to 10,500, Garner said.
Garner said new treatments entering the broader Parkinson’s disease market could help improve disease awareness and diagnosis, potentially supporting demand for therapies addressing psychosis.
DAYBUE Formulation and Persistence DAYBUE, Acadia’s treatment for Rett syndrome, launched in 2023 and is the first and only approved treatment for the condition, according to Garner. Acadia estimates that about 6,000 people in the U.S., primarily young girls, are living with Rett syndrome.
Long-term patient persistence remains a central commercial focus. Garner said 12-month persistence is above 50% to 55%, while approximately 50% of patients remain on treatment at 18 months. He added that 70% of current DAYBUE patients have been receiving therapy for more than 12 months.
The company recently introduced DAYBUE STIX, a powder formulation that can be mixed with a non-dairy liquid. Garner said the formulation removes certain excipients contained in the earlier oral-solution version and may help Acadia reach treatment-naive patients as well as patients who previously discontinued DAYBUE.
In the second quarter, 60% of DAYBUE business came from the oral solution and 40% came from STIX. In June alone, however, 60% of prescriptions were for STIX, suggesting the newer formulation could become the leading form of the franchise over time, Garner said. He noted that some patients may remain on the oral solution because of the complexity of Rett syndrome and caregiver preferences.
Acadia also sees an opportunity to reengage approximately 1,000 Rett syndrome patients who previously tried and later stopped DAYBUE.
European and Japanese Expansion Garner said Acadia recently received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for DAYBUE and is preparing for a European Commission decision. The company plans to launch first in Germany after an EC decision and to submit pricing and reimbursement dossiers in additional priority markets.
Acadia estimates there are between 8,000 and 12,000 people living with Rett syndrome in the European Union, compared with about 6,000 in the U.S. Garner said the European opportunity is larger in patient numbers, though pricing and access conditions will vary by country.
The company is also conducting a DAYBUE trial in Japan. Garner said Acadia is evaluating a partnership-based approach to bringing the treatment to Japanese patients.
Pipeline and Business Development Acadia expects Phase II data for remlifanserin in Alzheimer’s disease psychosis in the September-to-October timeframe. Garner described the indication as a large commercial opportunity, estimating that 30% of the 7 million to 7.5 million people currently living with Alzheimer’s disease in the U.S. may develop psychosis.
He said Acadia believes remlifanserin could be differentiated by a profile suited to elderly patients with complex medical needs, though he emphasized that the company must first see how the data develop.
Al Kildani, Acadia’s senior vice president of investor relations and corporate communications, said the company also has a Phase II trial of remlifanserin in Lewy body dementia underway and expects Phase II data for ACP-211 in major depressive disorder in the latter part of next year.
Garner said Acadia has close to $1 billion in cash and is evaluating business-development opportunities ranging from near-term commercial assets to additions that could strengthen its mid-stage pipeline. He said the company is not required to pursue a transaction and intends to be selective about potential deals.
About ACADIA Pharmaceuticals (NASDAQ:ACAD)ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company's flagship product, NUPLAZID® (pimavanserin), received U.S.
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First American Financial vykázala ve 2. čtvrtletí 2026 růst komerčních tržeb o 34 % na 314 milionů USD. Akcie FAF letos rostou o 16,7 % a obchodují se s diskontem vůči odvětví.
Key Takeaways FAF's commercial revenues rose 34% year over year to $314 million in Q2 2026.AI platforms are boosting automation, with Endpoint reaching 39% and SEQUOIA refinance automation at 40%.Investment income rose 14.7% to $183.7 million, while strong liquidity supports dividends and buybacks. Shares of First American Financial Corporation (FAF - Free Report) are trading at a discount compared with the industry. Its 12-month trailing price-to-book value of 1.3X is lower than the industry average of 17.2X, the Finance sector’s 4.5X and the Zacks S&P 500 composite’s 7.34X. The stock has a Value Score of A. This style score helps find the most attractive value stocks.
Image Source: Zacks Investment Research
The insurer has a market capitalization of $7.32 billion. The average volume of shares traded in the last three months was 0.9 million. The insurer has a solid track record of beating earnings estimates in the past four quarters, with an average of 23.6%.
Shares of some other insurers like RenaissanceRe Holdings Ltd. (RNR - Free Report) , NMI Holdings Inc. (NMIH - Free Report) and Axis Capital Holdings Limited (AXS - Free Report) are also trading at a discount to the industry average.
FAF is an OutperformerFirst American shares have risen 16.7% year-to-date, outperforming the industry’s growth of 4.4%.
Image Source: Zacks Investment Research
Shares of RNR, NMIH and AXS have gained 31%, 8.2% and 16.8%, respectively, year-to-date.
Average Target Price for FAF Suggests UpsideBased on short-term price targets offered by five analysts, the Zacks average price target is $88.20 per share. The average suggests a potential 23% upside from the last closing price.
Image Source: Zacks Investment Research
FAF’s Growth Projection EncouragesThe Zacks Consensus Estimate for First American’s 2026 earnings per share (EPS) indicates a year-over-year increase of 16%. The consensus estimate for revenues is pegged at $8.1 billion, implying a year-over-year improvement of 8.5%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 4.8% and 6.4%, respectively, from the corresponding 2026 estimates.
The expected long-term earnings growth rate is 15.2%, outperforming the industry average of 7.2%.
Optimist Analyst Sentiment on FAFThe company has witnessed three upward earnings estimate revisions for 2026 and 2027 over the past 30 days compared to one downward revision. Thus, the Zacks Consensus Estimate for 2026 and 2027 earnings has moved up 4% and 2.9%, respectively, over the same period.
FAF’s Efficient Use of Shareholder CapitalFirst American’s trailing 12-month return on equity of 13.3% compared favorably with the industry’s 7.8%, reflecting the company’s efficiency in utilizing shareholders’ funds.
Key Drivers of FAF StockFirst American remains well positioned for long-term growth as demand for title insurance and settlement services continues across residential and commercial markets. While residential activity remains subdued, strong commercial demand is offsetting weakness. In the second quarter of 2026, commercial revenues rose 34% year over year to $314 million, while revenues per order increased 31% to $19,980.
First American's large-scale, strong agent network, proprietary title data and established brand create barriers to entry and support its competitive position. Its technology investments also benefit from this extensive data and established workflows. The company has further growth potential through agent banking, with First American Trust serving 310 title agents in the second quarter of 2026, up 37% year over year compared to a market of around 20,000 agents.
The company is deploying AI across its operations through platforms such as Endpoint, SEQUOIA, Exam Assist QC and ServiceMac, which are reducing manual work and improving customer service. Automation rates continue to rise, with Endpoint reaching 39% in July 2026, while SEQUOIA’s refinance automation increased to 40%. The company plans broader U.S. expansion through 2027, supporting lower costs, margin improvement and long-term earnings growth.
Higher investment income continues to support earnings growth. The company is benefiting from rising deposit balances, including commercial escrow, 1031 exchange and agent banking deposits, while optimizing its investment portfolio toward higher-yielding securities.
As of June 30, 2026, First American maintains strong financial flexibility, with $2.6 billion in cash, $10.7 billion in investments and $5.6 billion in equity. Free cash flow rose 32% year over year to $285 million in the first half. Strong liquidity supports strategic acquisitions, dividends and share repurchases. Its dividend yield and payout ratio are better than the industry average, making it an attractive pick for yield-seeking investors.
Risks for FAFElevated mortgage rates, affordability challenges and low housing inventory continue to pressure home purchase activity and title insurance revenues.
FAF's strong dependence on commercial title insurance also remains a risk. A slowdown in commercial real estate transactions could weigh on FAF's revenue growth and earnings.
ConclusionStrength in commercial business, rising investment income, continued investments in technology and disciplined capital deployment should favor FAF’s results. However, a weak residential housing market and dependence on commercial title are headwinds.
FAF’s VGM Score of A instils confidence. Given attractive valuation, solid growth projections, optimistic analyst sentiment and higher ROE, it is wise to retain this Zacks Rank #3 (Hold) insurer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways DexCom stock has gained 34.9% in 2026 as its growth profile and CGM opportunity improve.G7 15 Day, broader reimbursement and international expansion are widening DexCom's growth opportunities.DexCom faces intensifying competition from Abbott, MiniMed and Senseonics in the CGM market. DexCom (DXCM - Free Report) stock has rebounded sharply in 2026, gaining 34.8% after falling 14.7% in 2025, as investors increasingly recognize the company’s improving growth profile and expanding continuous glucose monitoring (CGM) opportunity. The company’s share price performance so far this year has outperformed the industry’s 6.9% decline and S&P 500 Index’s 13.1% gain.
The second-quarter performance reflected recovery, with revenues rising 13% year over year and organic growth reaching 12%. U.S. revenues increased 11%, while international revenues jumped 19%, reflecting broader reimbursement, market-share gains and stronger patient starts. DexCom is expanding beyond its traditional insulin-dependent customer base. New evidence supporting CGM use in non-insulin Type 2 diabetes, broader international access and new products such as G7 15 Day and Smart Basal could materially expand the addressable market through 2026 and beyond.
YTD Performance of DXCM vs Industry
Image Source: Zacks Investment Research
What Is Fueling DXCM’s Growth?Non-Insulin Type 2 Diabetes Could Expand the Addressable Market: DexCom’s CONNECT trial could become an important growth catalyst by strengthening the case for CGM among non-insulin Type 2 patients. The study produced a 1.6% A1c improvement over six months, while commercial coverage has expanded across the four largest U.S. PBMs, reaching more than 7 million eligible patients. Broader reimbursement could significantly accelerate adoption beyond DexCom’s traditional customer base.
G7 15 Day Is Strengthening Product Adoption: The G7 15 Day rollout is creating a meaningful product-cycle opportunity. DexCom expects nearly 50% of its U.S. customer base to transition to the system by year-end, supported by an improved algorithm, longer wear time and stronger customer satisfaction. G7 15 Day also received Health Canada clearance, opening another avenue for international expansion. The product transition contributed to a roughly 400-basis-point improvement in second-quarter gross margin.
International Expansion Provides Another Growth Lever: International markets are growing increasingly important to DexCom’s growth trajectory. International revenues increased 19% in the second quarter, with organic growth of 16%. France and Canada benefited from expanding reimbursement access. DexCom is also rolling out Flex, its 15-day sensor for select Type 2 basal and non-insulin markets. Continued reimbursement wins could help the company replicate the share gains achieved in recently opened markets.
DexCom Is Building a Broader Digital Diabetes Platform: DexCom is expanding beyond sensor hardware through software and digital-health capabilities. The redesigned Stelo app adds AI-driven insights and enhanced food logging, while Smart Basal has reduced the time needed to reach an optimal basal insulin dose to about three weeks in pilot practices. The company also acquired Nutrisense, a CGM-data nutrition platform, creating additional potential for personalized metabolic-health services.
A Glance at DXCM’s EstimatesThe Zacks Consensus Estimate for DXCM’s 2026 and 2027 earnings per share (EPS) implies year-over-year growth of 26.8% and 16.6%, respectively, to $2.64 and $3.08. In the past 60 days, the consensus mark for the company's 2026 EPS has improved 2.7%.
Revenues for 2026 are projected to grow 12.1% to $5.23 billion and another 11.6% to $5.83 billion in 2027.
Image Source: Zacks Investment Research
Competition Remains a Major VariableThe CGM market remains highly competitive, with Abbott (ABT - Free Report) , MiniMed (MMED - Free Report) and Senseonics (SENS - Free Report) pursuing distinct strategies. Abbott remains DexCom’s most formidable direct rival, with Diabetes Care CGM sales exceeding $2 billion in the second quarter, reflecting growth of 9.5%.
Abbott also received CE Mark clearance for Libre Duo, its glucose-ketone monitoring sensor. MiniMed is strengthening its ecosystem, with CGM revenues growing at a low-double-digit rate in fiscal 2026 and its attachment rate reaching 68% in the fiscal fourth quarter. Senseonics is also growing much faster from a smaller base, with second-quarter revenues increasing about 120% and U.S. revenue growing more than 150%, supported by Eversense 365 and its Eon Care network.
Compared with Abbott, MiniMed, and Senseonics, DexCom currently benefits from greater scale, 13% reported revenue growth, and strong international momentum. However, Abbott’s scale, MiniMed’s integrated pump-CGM ecosystem, and Senseonics’ differentiated long-duration sensor could heighten competitive pressures.
Risks and ChallengesThe second half of 2026 will not be without challenges. DexCom remains dependent on reimbursement expansion, particularly for non-insulin Type 2 diabetes, and regulatory or payer delays could slow the addressable-market opportunity. Competition from Abbott could intensify as Libre Duo expands, while MiniMed’s new products could strengthen its integrated pump-CGM proposition. Senseonics also presents a differentiated alternative in long-duration CGM. Execution around the G7 15 Day conversion, international launches and new digital-health initiatives will be critical.
Image Source: Zacks Investment Research
ConclusionDexCom’s 2026 rally appears to be supported by improving fundamentals rather than short-term momentum alone. Expanding reimbursement, G7 15 Day adoption, international growth and digital-health initiatives provide multiple avenues for sustained expansion. However, competitive intensity and reimbursement execution remain important variables. With a Zacks Rank #3 (Hold), the stock appears better suited to investors willing to balance its strong growth potential against valuation and execution risks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways DexCom shares jumped 52.5% in three months, sharply outperforming key industry and market benchmarks.DexCom's Q2 revenues rose 13.1% as adjusted gross margin improved 400 basis points to 64.1%.DXCM's premium valuation, competition and litigation risk leave less room for execution shortfalls. DexCom, Inc. (DXCM - Free Report) shares have climbed 52.5% in the past three months, a sharp re-rating that raises the standard for further gains. The next leg depends less on momentum alone and more on whether earnings growth, margin expansion and new-market access can keep pace with higher expectations.
Recent results support the fundamental case, but the stock’s premium valuation leaves less room for disappointment. Investors now have to weigh improving execution against competition and litigation risk.
DXCM’s 52.5% Rally Outpaces Key BenchmarksDXCM’s three-month gain easily exceeds the 18.3% rise for the Zacks sub-industry, the Zacks Medical sector’s 10.4% advance and the S&P 500’s 2.4% increase. That relative strength shows investors have rewarded DexCom more aggressively than the broader market.
The outperformance also raises the hurdle. With a larger share-price gain already captured, future upside will likely require continued earnings delivery and progress on the company’s access and product initiatives rather than simple multiple expansion.
Image Source: Zacks Investment Research
DexCom’s Q2 Beat Supports the Fundamental CaseSecond-quarter 2026 revenues increased 13.1% year over year to $1.31 billion. Adjusted earnings were 70 cents per share, above the Zacks Consensus Estimate of 61 cents and up from 48 cents a year earlier.
Growth was broad-based geographically. U.S. revenues rose 11% to $933.4 million, while international revenues advanced 19% to $375 million. Coverage expansion and new-patient additions supported the U.S. business, while France and Canada were among markets benefiting from broader reimbursement.
DXCM’s Margin Gains Add Quality to the Growth StoryAdjusted gross margin reached 64.1%, up 400 basis points year over year. Adjusted operating margin improved 590 basis points to 25.1%, helped by manufacturing efficiencies, quality management and early benefits from the G7 15 Day transition.
The combination of double-digit revenue growth and wider margins makes the rally more defensible than one driven only by sales. DexCom also expects nearly 50% of its U.S. customer base to convert to G7 15 Day by year-end, while broader type 2 coverage remains a meaningful growth avenue.
DexCom’s Premium Valuation Raises the BarDXCM trades at 30.7X forward 12-month earnings, above 27.3X for the Zacks sub-industry, 21.2X for the Zacks Medical sector and 20.7X for the S&P 500. Earnings estimate revisions help support that premium, with 2026 and 2027 estimates up 2.7% and 1.2%, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Competition remains a counterweight. Abbott (ABT - Free Report) continues to expand its Libre continuous glucose monitoring portfolio, including new clinical evidence in basal-insulin type 2 diabetes. MiniMed Group (MMED - Free Report) has also broadened its diabetes ecosystem through MiniMed systems and newer continuous glucose monitoring integrations. Those alternatives can intensify pricing, rebate and formulary pressure.
DXCM’s Signal Check Favors a Balanced FinishAfter a 33.7% run, DexCom still has measurable support from earnings growth, margin expansion, estimate revisions and product adoption. Yet the premium multiple means execution must remain consistent, while competitive pressure and ongoing litigation create downside risk.
DXCM currently carries a Zacks Rank #3 (Hold). Likewise, Abbott carries a Zacks Rank of 3, while MiniMed has a Zacks Rank #4 (Sell). That keeps the assessment centered on the available fundamentals: improving estimates and profitability on one side, and a richer valuation plus industry and legal risks on the other. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways DexCom's U.S. CGM opportunity is expanding, with 7M newly covered lives and 9M covered nonusers.DXCM expects nearly half its U.S. customer base to convert to G7 15 Day by year-end 2026.DexCom's premium valuation, competition and litigation leave less room for execution misses. DexCom, Inc. (DXCM - Free Report) is entering the second half of 2026 with healthier margins, broader reimbursement and a larger continuous glucose monitoring opportunity. The investment question is whether that improving setup is enough to justify a premium valuation.
Growth catalysts remain visible across U.S. coverage, product upgrades and international expansion. Yet competition, litigation and a forward earnings multiple above key benchmarks leave less room for execution misses.
DXCM’s Growth Case Is Still BroadeningDexCom’s addressable market is widening beyond intensive insulin users. All four of the largest U.S. commercial pharmacy benefit managers now cover people with type 2 diabetes who are not using insulin, representing more than 7 million covered lives.
Penetration still has room to improve even before additional reimbursement wins. Roughly 9 million people in the United States already have continuous glucose monitoring coverage but are not using the technology, giving DXCM a sizable pool of potential new users.
DexCom’s Valuation Leaves Less Room for ErrorThat runway is not cheap. DXCM trades at a forward 12-month price-to-earnings ratio of 30.68, above 27.25 for the Zacks sub-industry, 21.15 for the Medical sector and 20.66 for the S&P 500.
The premium raises the hurdle for future results. Revenue growth, estimate revisions and margin expansion can support a higher multiple, but investors are already paying for a meaningful portion of that progress. Any slowdown in patient additions, reimbursement or operating leverage could pressure the valuation.
Image Source: Zacks Investment Research
DXCM’s Coverage and Product Catalysts MatterProduct execution strengthens the growth argument. DexCom is rolling out G7 15 Day and expects to convert nearly half of its U.S. customer base to the system by year-end 2026. Health Canada has cleared G7 15 Day, while Dexcom Flex has launched in Germany for selected type 2 populations.
Clinical evidence could broaden the runway further. In the CONNECT trial, DexCom CGM users with type 2 diabetes not using insulin posted a 1.6% A1c improvement, spent more than five additional hours per day in range and recorded 97% median CGM use. DexCom has submitted the data to CMS in support of expanded non-insulin coverage.
DexCom’s Competition and Litigation Temper UpsideThe category remains crowded. Abbott Laboratories (ABT - Free Report) competes through its FreeStyle Libre continuous glucose monitoring franchise. MiniMed Group (MMED - Free Report) , the recently divested business of Medtronic, also offers continuous glucose monitoring and integrated diabetes technologies, while Senseonics Holdings, Inc. (SENS - Free Report) markets the implantable Eversense 365 system.
More viable alternatives can give payers leverage in negotiations over pricing, rebates and formulary placement. DexCom also faces ongoing patent disputes plus securities, derivative and product-related class actions. These issues may add legal expense and execution uncertainty even if underlying demand remains healthy.
DXCM’s Signal Mix Supports PatienceThe balance of evidence favors patience over an aggressive entry. Earnings estimates for 2026 and 2027 have moved up 2.7% and 1.2% over the past 60 days to $2.65 and $3.08, respectively. Second-quarter adjusted gross margin reached 64.1% and adjusted operating margin improved to 25.1%.
Image Source: Zacks Investment Research
DXCM currently carries a Zacks Rank #3 (Hold). Likewise, Abbott and Senseonics carry a Zacks Rank of 3, while MiniMed has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
With estimates rising and margins improving, the fundamental direction is constructive. The premium valuation, competitive pressure and litigation risk still argue for waiting for either a better price or further proof that growth can sustain the current multiple.
Akcie Wendy's ve středu vyskočily až o 17 % po zprávě, že Nelson Peltzova Trian Fund Management zvažuje odkup řetězce do soukromého vlastnictví. Trian už drží 16% podíl.
ToplineShares of Wendy's soared on Wednesday after the Financial Times reported Nelson Peltz's Trian Fund Management could lead a bid to take the restaurant chain private within a matter of weeks, a move that would hand the activist investor full control of a fast food giant with roughly 7,000 locations.
Signage for a Wendy's restaurant on April 21, 2026.
NurPhoto via Getty Images
Key FactsThe coalition led by Trian—which already owns a 16% stake in Wendy’s—is expected to include Flynn Group, one of Wendy's largest franchisees, and Abu Dhabi-based BlueFive Capital, FT reported on Wednesday.
Peltz first told the Securities and Exchange Commission in February he was evaluating ways to enhance shareholder value, including a plan to have Trian take "control of the company,” and said he thinks the company's stock, which has fallen significantly over the last year, is undervalued.
If Peltz moves forward this time, Trian would first submit the proposal via a regulatory filing and Wendy's independent directors would then decide whether to negotiate directly with Peltz's firm or run a broader auction process.
Wendy's told the Financial Times it "would thoroughly review any proposal submitted by Trian consistent with its fiduciary duties," adding the board "regularly reviews the company's strategic priorities" to maximize shareholder value.
Shares of Wendy's skyrocketed as much as 17% after the FT report was published, and were up more than 12.5% to $8.50 as of around 1:20 p.m. EDT.
Key backgroundPeltz has been involved with the Wendy’s brand since the 2000s. He served as chairman of The Wendy’s Company for more than 15 years, until September 2024, shortly after he trimmed his stake in the company by selling 2.6 million shares for $20.30 per share. Trian, which owned more than 19% of Wendy's shares back in 2022, also said then it was considering a potential deal to buy the fast-food giant. The next year, however, Peltz said his fund wouldn't pursue the takeover.
TANGENTWendy’s stock, which has lost nearly half its value over the last 12 months, rallied in June after a Reddit-fueled meme-stock frenzy, including a post calling to “save” the chain. Wendy’s trading volume hit $2.2 million in a matter of days in the week of June 22, up from $109,600 the entire week before. Enthusiasm surrounding Wendy’s was driven by posts on Reddit’s r/WallStreetBets forum—which heralded the GameStop and AMC meme stock frenzies years earlier—including one post arguing Wendy’s shares were more viable than SpaceX.
FORBES VALUATIONPeltz, an activist investor, has an estimated net worth of $1.6 billion. His firm has $8.5 billion in assets under management and has stakes in Bank of New York Mellon, DuPont and food conglomerate Mondelez International. Peltz has 10 children including Nicola Peltz, who is married to David and Victoria Beckham's eldest son, Brooklyn.
further readingForbesWendy’s Skyrockets As Reddit Traders Boost Shares—Is It The New Meme Stock?By Ty RoushForbesWendy’s Stock Surges After Billionaire Nelson Peltz Calls It UndervaluedBy Mary Whitfill Roeloffs
Amphenol těží z prudké poptávky po AI datových centrech; výnosy IT/datacom ve 2. čtvrtletí 2026 vzrostly o 89 % a objednávky o 94 % na 10,7 miliardy USD.
Key Takeaways Amphenol benefits from surging AI data center demand, with IT datacom sales up 89% in Q2'26.APH's Q2'26 orders jumped 94% to $10.7 billion, with organic orders rising 63% year over year.Amphenol raised its 2026 CommScope outlook to $4.6 billion in sales and 30 cents of EPS accretion. Amphenol (APH - Free Report) shares closed at $167.23 on Aug. 11, very close to the 52-week high of $178.52 hit on June 30. APH’s shares have risen 23.8% year to date (YTD), outperforming the Zacks Computer and Technology sector’s appreciation of 16.9%. The outperformance can be attributed to accelerating demand for APH’s high-speed and power interconnects that are used in AI servers and networking. Amphenol remains one of the biggest beneficiaries of AI data center investments. This, along with strong organic growth, acquisition synergies and improving profitability, is driving prospects of the stock.
So, is Amphenol stock a buy right now? Let’s dig deep to find out.
AI Demand & Diversified End-Markets Aid APH’s ProspectsAPH appears particularly well positioned as hyperscalers and other customers increase investment in AI data centers. The company participates across the connectivity architecture through its high-speed copper, fiber optics, and power interconnects offerings, rather than relying on a single technology. Management noted that customers are demanding “more of everything,” with AI demand growing faster than the already-strong 63% organic IT datacom growth rate. IT datacom has become APH’s largest end market, accounting for 43% of the second-quarter 2026 sales. Sales in this market surged 89% year over year and 22% sequentially, driven by accelerating demand for products used in AI applications.
Amphenol benefits from a diversified end market. In the second quarter of 2026, revenues jumped 55% year over year to $8.8 billion, including a strong 30% organic increase. The increase to outsized IT datacom demand, together with strong growth in industrial, defense, commercial aerospace and mobile devices, drove the revenue performance. Moreover, second-quarter 2026 orders reached $10.7 billion, up 94% year over year, producing a robust book-to-bill ratio of 1.23X. Organic orders were also up 63%, indicating that the momentum was not merely acquisition-driven.
APH is benefiting from increasing investment in current and next-generation defense technologies globally, while capacity expansions and a broader product portfolio should help it capture this demand. Commercial aerospace is benefiting from higher aircraft production and increasing APH content on next-generation aircraft. On a combined basis, these businesses provide diversification away from the more AI-sensitive IT datacom market.
Meanwhile, industrial sales rose 18% organically in the second quarter of 2026, with growth across virtually all industrial segments and double-digit growth across all three geographic regions. The acquisition of El.Com expands APH’s high-voltage and value-added interconnect capabilities, while continued adoption of electronics, sensors and connectivity in industrial equipment should support longer-term content growth. APH is benefiting from electrified drivetrains and increasing electronic content in next-generation vehicles. Management continues to target design wins in higher-content platforms, which could allow APH to grow even if overall global vehicle production remains relatively subdued.
APH Rides on Acquisitions & Strong Cash Generation AbilityAmphenol’s CommScope acquisition is performing substantially better than anticipated. Management raised its 2026 expectation for CommScope to $4.6 billion of sales and 30 cents per share of adjusted earnings accretion, versus its earlier forecast of $4.1 billion and 15 cents per share, respectively. Better-than-expected integration and earnings contribution have strengthened investor confidence in APH’s acquisition strategy.
Beyond CommScope, APH completed the El.Com and Wilder Technologies acquisitions in the second quarter of 2026. Wilder strengthens high-speed test and measurement capabilities for IT datacom, while El.Com adds high-voltage interconnect solutions for industrial, defense and aerospace customers. Amphenol views its ability to acquire and successfully integrate complementary businesses as a core competitive advantage
Moreover, APH’s strong cash generation ability should support reinvestment and shareholder returns. In the second quarter of 2026, operating cash flow was $1.6 billion and free cash flow was $1.2 billion. APH also returned about $515 million to shareholders through dividends and buybacks. Strong cash generation gives the company flexibility to fund capacity additions, acquisitions and shareholder returns simultaneously.
APH Shares Outperform Peers, Trades at PremiumAPH shares have outperformed peers, including TE Connectivity (TEL - Free Report) , Belden (BDC - Free Report) and Aptiv (APTV - Free Report) in the YTD period. Shares of Belden have jumped 17.3%, while TE Connectivity and Aptiv have lost 4.4% and 35.5%, respectively, over the same time frame.
APH Stock’s Price Performance
Image Source: Zacks Investment Research
Amphenol is trading at a premium, as suggested by a Value Score of D.
In terms of the forward 12-month price-to-earnings (P/E), APH is trading at 28.18X compared with the broader Zacks Computer and Technology sector and peers. The broader sector is trading at 21.33X while TE Connectivity, Belden and Aptiv trade at 17.02X, 14.03X and 7.93X, respectively.
APH Stock’s Valuation
Image Source: Zacks Investment Research
Technically, APH shares are trading above the 50 and 200-day moving averages (SMAs), indicating a bullish trend.
APH’s 3Q’26 Earnings Estimate Revision Shows Rising TrendAmphenol expects third-quarter 2026 earnings between $1.40 per share and $1.42 per share. Revenues are anticipated between $9.3 billion and $9.4 billion.
The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $1.42 per share, up 14.5% over the past 30 days and indicates 52.69% growth over the year-ago quarter’s reported figure.
ConclusionAmphenol’s robust AI-driven demand, diversified end-market exposure, strong order growth and successful acquisition strategy paint a promising growth picture. The better-than-expected performance of CommScope, healthy cash generation and favorable earnings estimate revisions further strengthen APH’s prospects.
APH currently sports a Zacks Rank #1 (Strong Buy), which implies that investors should start accumulating the stock right now. You can see the complete list of today’s Zacks #1 Rank stocks here.
Na Primoris Services Corporation (NYSE: PRIM) byla podána hromadná žaloba kvůli údajnému klamání investorů ohledně řízení projektů. Firma zároveň varovala, že tržby v segmentu obnovitelných zdrojů v roce 2026 klesnou o 30 % na 900 milionů USD.
, /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Primoris Services Corporation (NYSE: PRIM) that securities class action lawsuit has been filed against the Company and certain current and former executives who are alleged to have misled investors about the company's project management capabilities. It seeks to represent investors who purchased or otherwise acquired shares of Primoris common stock between August 5, 2025 and June 22, 2026.
The lawsuit follows a second massive selloff in Primoris shares in six weeks – this time on June 23, 2026, when shares cratered another $23.29 (-21%). The first occurred on May 6, 2026, when Primoris shares crashed $101.69 (-50%). Both were triggered by surprise revelations of Primoris' project management problems.
The disclosures' toll was to erase well over $6 billion from Primoris' market capitalization between May 5, 2026 and June 23, 2026.
National shareholders rights firm Hagens Berman continues its investigation into claims that Primoris and the other Defendants violated the federal securities laws and encourages investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.
Class Period: Aug. 5, 2025 – June 22, 2026
Lead Plaintiff Deadline: Sept. 21, 2026
Visit: www.hbsslaw.com/investor-fraud/prim
Primoris Services Corporation (PRIM) Securities Class Action:
During the Class Period, defendants repeatedly assured investors that Primoris maintained "disciplined bidding," "well-developed estimating processes," effective project controls, and reliable forecasting that enabled it to accurately price and execute fixed-price renewable energy projects, "manage risk," and reliably forecast revenues, margins, and earnings.
The complaint alleges that, in contrast to these assurances (and unknown to investors), the Defendants did not disclose that Primoris' estimating, cost-to-complete forecasting, and project oversight processes were woefully deficient. As a result, the company systematically underestimated project costs and risks on multiple significant renewable energy projects.
Investors learned the truth through a series of partial disclosures:
First, in February 2026, Primoris management attributed lower gross margins to "unexpectedly higher costs" at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company's ability to "accelerate project timelines" for 2026.
Second, on May 5, 2026, the market's confidence in Primoris' remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.
CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris' financial results were battered by cost pressures across multiple solar projects. Moving beyond the "rock and soil" reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:
Project Redesigns: Costly changes to existing plans. Labor Issues: Inability to manage specific workforce demands. Sequencing Errors: Failures in project management and timing. Weather Disruptions: Further complicating already delayed timelines. Finally, after the markets closed on June 22, 2026, Primoris shocked investors when it announced that "[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company's Renewables business." Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.
"We're focused on when Primoris' management learned of the full scope of the company's renewables problems, including the apparent inadequacy of remediation measures," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm's investigation, submit your losses now »
If you'd like more information and answers to other frequently asked questions about the firm's Primoris investigation, read more »
Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
MP Materials ve 2. čtvrtletí zvýšila tržby o 89 % na 108,5 milionu USD, ale upravená ztráta na akcii činila 1 cent a mírně minula odhady. Akcie po výsledcích přidaly 15 %.
Key Takeaways MP Materials' Q2 revenues surged 89% as NdPr production and sales continued to gain momentum.MP's costs rose as it ramped magnet production, while start-up expenses climbed sharply year over year.MP trades at a premium valuation as 2026 and 2027 earnings estimates have moved lower. MP Materials (MP - Free Report) reported second-quarter 2026 results on Aug. 6, with revenues surging 89% year over year to $108.5 million and beating the Zacks Consensus Estimate. NdPr production and sales also continued to show strong momentum. MP reported an adjusted loss of one cent per share, which missed the Zacks Consensus Estimate of earnings of two cents, but showed significant improvement from the loss of 13 cents in the year-ago quarter.
MP shares have gained 15% since the earnings release. However, despite this climb, the stock’s performance over the past year has remained lackluster with a decline of 26.8%. It has trailed the Zacks Mining - Miscellaneous industry’s growth of 42.4%, the Zacks Basic Materials sector’s 29% gain and the S&P 500’s rise of 22.5%.
The stock has also lagged other players in the rare earths space like Lynas Rare Earths Limited (LYSDY - Free Report) and Energy Fuels (UUUU - Free Report) , which advanced 55.4% and 29.8%, respectively, in the same timeframe.
MP’s Price Performance Against Industry, Sector, S&P 500 & Peers
Image Source: Zacks Investment Research
Before addressing the critical question of how investors should position themselves regarding the stock, let us first review the company’s second-quarter results.
MP’s Q2 Results Show Strong Revenue MomentumMP Materials produced 840 metric tons of NdPr, up 41% year over year, while NdPr sales volumes surged 127% to 1,006 metric tons. However, MP reported no rare earth concentrate sales reflecting its decision to halt these sales to China in July 2025.
The Materials segment generated revenues of $95.6 million, up 155% year over year, driven by stronger NdPr sales volumes and pricing, partially offset by the absence of concentrate sales.
The Magnetics segment generated revenues of $16.5 million in the second quarter, down 17% year over year. While the segment benefited from an increase in the production of magnetic precursor products at the Independence Facility, revenues were down due to the start-up of magnet production and related pricing mechanisms.
Total revenues rose 89% year over year to $108.5 million. MP also recorded $17.58 million in income tied to a price protection agreement (PPA) with the Department of War (DoW).
Higher Costs to Keep Pressure on MP’s EarningsCost of sales climbed 43% in the second quarter due to higher sales volumes of NdPr oxide and metals. Selling, general and administrative expenses rose 28%, due to higher personnel costs to support its downstream expansion. Start-up costs surged to around $14 million from $0.76 million in the year-ago quarter due to the ramp-up of start-up activities for magnet production and chlor-alkali facilities, and costs associated with initial production of magnets at Independence.
Despite higher costs, adjusted EBITDA improved sharply to $28.5 million from a loss of $12.5 million in the year-ago quarter, supported by higher revenues and PPA income.
The company’s adjusted loss narrowed to one cent per share from 13 cents. Higher adjusted EBITDA and interest income benefited earnings, partly offset by amortization related to the PPA upfront asset and higher interest expense mainly due to the July 2025 DoW loan to support the buildout of samarium oxide production.
Costs are likely to remain elevated as producing separated rare earth products and magnetic materials involves significantly higher costs than concentrate production, due to additional processing requirements, chemical inputs, labor and maintenance. Costs associated with magnetic precursor products and start-up costs are also likely to increase further in the coming quarters.
MP Sees Downward Revision Activity in Earnings EstimatesThe Zacks Consensus Estimate for MP Materials’ 2026 revenues indicates a 102% increase year over year. The consensus estimate for 2026 earnings is currently pegged at 18 cents per share, suggesting a solid improvement from the loss of 24 cents reported in 2025.
The consensus estimate for MP’s 2027 revenues suggests year-over-year growth of 72% with earnings expected to surge 445%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for earnings for both 2026 and 2027 has moved down over the past 60 days.
Image Source: Zacks Investment Research
MP Materials Stock Trades at a PremiumMP Materials stock is trading at a forward 12-month price/sales multiple of 14.91X, a significant premium to the industry’s 1.42X. MP’s Value Score of F suggests that the stock is not so cheap and a stretched valuation at this moment. Energy Fuels trades at an even steeper multiple of 19.26X, while Lynas Rare Earths appears comparatively cheaper at 10.49X.
Image Source: Zacks Investment Research
Strategic Expansion & Partnership Strengthen MP’s Long-Term ProspectsMP Materials continues to benefit from strong demand for domestic rare earth materials and magnets. NdPr sales exceeded 1,000 metric tons for the second consecutive quarter, and the company expects production to exceed 1,000 metric tons in the third quarter.
The company remains on track to begin producing terbium and dysprosium later this year and expects first samarium production in 2028. MP recently entered into a multiyear agreement to supply gadolinium oxide to a leading U.S. aerospace and defense manufacturer. The deal is expected to be worth a sizable nine-figure amount.
During the second quarter, MP Materials delivered magnets to General Motors for in-vehicle qualification testing and expects to begin commercial shipments in the fourth quarter, followed by a steady production ramp.
The company delivered magnets to General Motors for vehicle qualification testing in the second quarter and expects commercial shipments to begin in the fourth quarter, followed by a production ramp.
MP Materials has also worked with U.S. and allied drone manufacturers to launch Project Swarm, an industrial coordination initiative designed to aggregate and standardize future magnet demand. It has already signed subscription agreements with a number of participants. The company’s partnership with Apple on magnet recycling, magnet production and joint development also continues to advance.
Meanwhile, construction of the 10X facility remains on track. The second U.S. rare earth magnet facility is expected to begin commissioning in 2028 and produce approximately 7,000 metric tons of magnets annually. Combined with the 3,000-metric-ton capacity of the Independence facility, MP’s U.S. magnet capacity is expected to reach 10,000 metric tons annually.
Should You Buy MP Stock Right Now?MP Materials offers an attractive long-term growth story, supported by its strategic U.S. position, rising NdPr demand, expanding magnet production and partnerships with major industrial and technology companies.
However, the stock’s premium valuation, weak recent performance, rising operating and start-up costs, and downward estimate revisions temper the near-term outlook. Existing shareholders may consider holding the stock, while new investors may want to wait for a more attractive entry point. MP Materials currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Kenvue ve 2. čtvrtletí zvýšila tržby o 3 % na 3,96 miliardy USD a upravený EPS na 31 centů. Tahounem byl segment Skin Health and Beauty, jehož prodeje vzrostly o 5,1 %.
Key Takeaways Kenvue's Q2 sales rose 3%, while adjusted EPS increased to 31 cents from 29 cents. Kenvue's Skin Health and Beauty sales rose 5.1%, led by Hair Care and Face Care.Kenvue is pursuing productivity, digital and brand investments ahead of its planned Kimberly-Clark deal. Kenvue Inc. (KVUE - Free Report) , the world's leading pure-play consumer health company, delivered year-over-year improvement in second-quarter 2026, although earnings and sales slightly missed the respective Zacks Consensus Estimate. Net sales rose 3% year over year to $3.96 billion, while organic sales increased 1.6%. Kenvue's second-quarter 2026 top-line performance improved meaningfully from the year-ago period, marking a sharp reversal from the reported sales decline of 4.0% and organic sales drop of 4.2%.
Profitability strengthened year over year. On the bottom line, Kenvue adjusted earnings of 31 cents per share increased 6.9% year over year in second-quarter 2025. The increase shows that the company benefits from tighter cost control and operating improvements. The quarter extended the improvement seen at the start of 2026, with organic growth supported by a combination of higher prices and improved volume trends. Kenvue delivered its third consecutive quarter of net and organic sales growth, with broad-based gains across all segments and regions. (Read more: KVUE Q2 Earnings Miss Estimates as Margins Narrows, Sales Rise)
We note that Kenvue’s shares have declined 3.2% since it released its second-quarter results on Aug. 6, 2026, before market open. The decline may be attributable to the company’s soft quarterly performance, as both adjusted earnings and revenues fell short of the Zacks Consensus Estimate. However, shares of the Zacks Rank #3 (Hold) company have jumped 10.1% in the past three months compared with the industry's growth of 6.1%.
Image Source: Zacks Investment Research
KVUE's Q2 Key Financial Metrics DiscussionKenvue's three operating segments remain central to its trajectory: Self Care, Skin Health and Beauty, and Essential Health. Skin Health and Beauty remained the key growth driver in the reported quarter, supported by broad-based gains across regions, with Hair Care and Face Care leading the performance. Strong e-commerce momentum, disciplined commercial execution and demand for products such as OGX Pro Growth + Peptide and Neutrogena Ultra Sheer Sun further supported results.
Skin Health and Beauty sales increased 5.1% year over year to $1,113 million, exceeding the Zacks Consensus Estimate of $1,091 million. Organic sales increased 3.7% on higher pricing and volumes, while foreign exchange also contributed to the upside.
Self Care sales increased 2.2% to $1,589 million; however, the metric missed the Zacks Consensus Estimate of $1,617 million. Organic sales rose 0.6% year over year on higher pricing and positive foreign currency, somewhat offset by weak volumes.
Essential Health sales increased 2.3% to $1,253 million, missing the Zacks Consensus Estimate of $1,274 million. However, organic sales rose 1.1%, as volume growth more than offset unfavorable pricing mix. Foreign currency aided results.
What’s More For KVUE?Beyond the quarterly numbers, the pending Kimberly-Clark transaction remains a major strategic factor. Kenvue is simultaneously pursuing restructuring and operational-efficiency initiatives while preparing for the combination, which management expects to close in the fourth quarter of 2026, subject to foreign regulatory approvals and other customary conditions.
Kenvue is focused on strengthening its leading consumer health brands through innovation, targeted marketing and improved execution. The company is prioritizing its largest brands and markets while investing in new products that address evolving consumer needs. KVUE is also expanding its e-commerce and digital capabilities to improve consumer engagement. It is leveraging its global footprint to expand across international markets and drive growth in core categories.
The company continued to enhance operational efficiency while increasing strategic investments to support sustainable growth. Management noted that first-half 2026 results met or surpassed expectations across core metrics, underscoring the resilience of its brands and the progress of strategic execution. Kenvue remains focused on transformation, improving business performance and driving long-term growth.
Stocks to Consider in the Consumer Staples SpaceUnited Natural Foods (UNFI - Free Report) , which is the leading distributor of natural, organic and specialty food and non-food products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for United Natural Foods’ current financial-year sales indicates a drop of 2.1% from the prior-year level. UNFI delivered a trailing four-quarter earnings surprise of 29.9%, on average.
Medifast, Inc. (MED - Free Report) , which is a leading manufacturer and distributor of clinically-proven healthy living products and programs, currently carries a Zacks Rank #2 (Buy). MED missed the average earnings surprise by a sharp margin in the trailing four quarters.
The Zacks Consensus Estimate for Medifast’s current financial-year sales indicates a decline of 25.9% from the year-ago number.
Freshpet, Inc. (FRPT - Free Report) , which manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats, currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Freshpet’s current financial-year sales indicates growth of 10.7% from the prior-year level. FRPT delivered a trailing four-quarter earnings surprise of 21.9%, on average.
Akcie Cboe Global Markets za poslední tři měsíce klesly o 22 %, ale vedení zvýšilo výhled organického růstu čistých tržeb pro rok 2026 na střední až vysoké patnáctiprocentní tempo. Konsensus čeká v roce 2026 růst tržeb o 16,3 % a zisku o 29,2 %.
Key Takeaways Cboe Global shares fell 22% in three months, underperforming the industry, sector and S&P 500.CBOE raised its 2026 organic net revenue growth outlook to the mid-to-high teens amid strong activity.Cboe Global's 2026 consensus estimates call for 16.3% revenue growth and 29.2% earnings growth. Shares of Cboe Global Markets (CBOE - Free Report) have lost 22% in the past three months, underperforming the industry, the sector as well as the Zacks S&P 500 composite.
Cboe Global Markets is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. As global capital markets continue to become increasingly electronic and data-driven, CBOE is well-positioned to capitalize on secular trends in trading volumes, demand for market data and the expansion of index-based investing.
CBOE vs Industry, Sector, S&P 500 in 3-Months
Image Source: Zacks Investment Research
Shares of Nasdaq Inc (NDAQ - Free Report) have gained 5.6% in the past three months, while those of Intercontinental Exchange (ICE - Free Report) have lost 2.6% in the same time frame.
CBOE Shares Are AffordableThe stock is overvalued compared with its industry. It is currently trading at a forward price-to-earnings multiple of 19.81, lower than the industry average of 20.1 and the median of 21.64 over five years.
Image Source: Zacks Investment Research
CBOE is relatively cheap compared to Nasdaq but expensive compared to Intercontinental Exchange.
The Case for CBOE StockCboe Global Markets holds a dominant position in the U.S. listed options market, operating multiple exchanges and consistently maintaining an industry-leading market share.
Through acquisitions and international expansion, Cboe has developed a diversified portfolio spanning European equities and derivatives, foreign exchange venues, and clearing infrastructure. This diversification reduces its dependence on any single asset class or geographic market. Its proprietary market data, index licensing, and technology solutions also generate stable, high-margin recurring revenues supported by substantial customer switching costs.
Strong activity in index options, European equities and foreign exchange continues to fuel transaction-fee growth, while the Data Vantage segment is expanding recurring revenues. Reflecting this momentum, management raised its 2026 organic total net revenue growth outlook to the mid-to-high teens from its previous low-double-digit to mid-teens range. It also increased Data Vantage’s organic net revenue growth target from the low double digits to the low teens.
Cboe continues to strengthen its long-term prospects through strategic acquisitions and investments that broaden its geographic reach, product offerings and capital-markets infrastructure. The company is also pursuing opportunities in digital assets, carbon markets, next-generation trading technologies and innovative derivatives products.
Meanwhile, management is streamlining the portfolio and cost base. Planned divestitures of its Canadian and Australian exchanges are expected to lower adjusted operating expenses in 2026 and improve efficiency.
Supported by robust free cash flow and a strong balance sheet, Cboe maintains disciplined capital allocation. The company has increased its dividend for 15 consecutive years and retains $536.8 million under its share-repurchase authorization, demonstrating its commitment to shareholder returns.
Cboe Global’s Growth ProjectionsThe Zacks Consensus Estimate for 2026 revenues indicates a 16.3% year-over-year increase, while that for earnings suggests a 29.2% year-over-year increase. The consensus estimate for 2027 revenues indicates a 2.8% year-over-year increase, while that for earnings suggests an increase of 5.6% year over year.
The expected long-term earnings growth rate is pegged at 18.6%, better than the industry average of 13.1%.
Optimist Analyst Sentiment on CBOEThe consensus estimate for 2026 and 2027 earnings has moved 2.3% and 2.6% north, respectively, in the past 30 days, reflecting analysts' optimism.
Image Source: Zacks Investment Research
The consensus estimates for 2026 earnings of Nasdaq and Intercontinental Exchange have moved north in the past 30 days.
Parting Thoughts on CBOE SharesA diversified business mix with recurring revenues, accelerated growth banking on recurring non-transaction revenues, use of technology and prudent buyouts poise CBOE well for growth.
Given affordable valuation, solid growth projections and optimistic analyst sentiment, it’s time to add this Zacks Rank #2 (Buy) stock to one’s portfolio. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TDS ve 2. čtvrtletí vykázala EPS 2,24 USD a čistý zisk 260,6 milionu USD, ale část růstu poháněly prodeje spektra v Array. Telekomunikační společnost zároveň zvýšila cíle pro optickou síť, i když tržby činily 248 milionů USD a meziročně klesly o 6 %.
Key Takeaways TDS posted $2.24 in Q2 EPS as spectrum transactions helped lift net income to $260.6 million.Fiber addresses grew rapidly, but legacy declines pushed TDS Telecom revenue down 6% year over year.TDS raised its fiber target and capex outlook as Array shifts toward recurring tower operations. Telephone and Data Systems, Inc. (TDS - Free Report) reported a sharp improvement in second-quarter 2026 earnings, but the headline gain was driven partly by spectrum monetization at Array Digital Infrastructure. Earnings reached $2.24 per share compared with a loss of 5 cents a year earlier, while operating revenues rose 3.6% to $309.3 million. The quarter also showed faster fiber deployment at TDS Telecom, making the sustainability of the earnings improvement an important consideration for investors.
TDS Earnings Benefit From Spectrum SalesTDS reported $2.24 per share in second-quarter earnings, up from a loss of 5 cents in the year-ago quarter. Earnings topped the Zacks Consensus Estimate, producing a 100% surprise, while revenues missed the $315 million consensus estimate by 1.83%.
Array’s spectrum monetization was a major contributor to the earnings improvement. Array completed a $1 billion spectrum transaction with Verizon Communications Inc. (VZ - Free Report) in June and about $168 million of additional spectrum sales to T-Mobile US, Inc. (TMUS - Free Report) in May. The transactions helped lift net income attributable to TDS common shareholders to $260.6 million from a $6 million loss a year earlier.
The distinction between transaction-related gains and recurring operations is important. Array’s license sales boosted reported results, but TDS excludes the gain on license sales and exchanges when calculating Adjusted EBITDA. That measure provides a clearer view of underlying operating performance.
TDS Fiber Growth Broadens the Revenue BaseTDS Telecom continued to expand its fiber footprint during the quarter. The business delivered approximately 66,000 new marketable fiber service addresses, bringing the first-half total to about 106,000. Residential fiber net additions reached 15,100, up 47% year over year. Marketable fiber service addresses totaled approximately 1.17 million, with 60% of service addresses served by fiber.
Fiber growth is beginning to offset pressure from legacy operations, but it has not yet reversed the broader revenue decline. TDS Telecom generated $248 million of operating revenues, down 6% year over year, as copper and cable declines and divestitures outweighed a 13% increase in fiber revenue. Adjusted EBITDA declined 21% to $70 million, while capital expenditures nearly doubled to $179 million as construction activity accelerated.
Management raised its 2026 fiber service address delivery target to 250,000-300,000 from 200,000-250,000 previously. The company continues to target 2.1 million marketable fiber service addresses over the long term.
TDS Guidance Shows a Costly TransitionThe updated outlook captures the trade-off between faster fiber deployment and weaker near-term financial performance. TDS Telecom’s 2026 revenue guidance was reduced to $1-$1.025 billion from $1.015-$1.055 billion, while Adjusted EBITDA guidance was narrowed to $310-$330 million from $310-$350 million. At the same time, fiber service address guidance increased and capital expenditure guidance rose to $625-$675 million from $550-$600 million.
The higher spending reflects the construction required to expand the fiber footprint. TDS Telecom’s second-quarter capital expenditures nearly doubled to $179 million, making cash generation an important measure of whether the additional fiber investment will translate into sustainable operating gains.
The earnings picture therefore remains mixed. Fiber deployment and customer additions are accelerating, but legacy revenue declines and higher investment are keeping pressure on the telecom segment’s near-term profitability.
TDS Array Shifts Toward Tower OperationsArray’s second-quarter results also reflected its transition toward a tower-focused operating model. Operating revenues increased 90% year over year to $54.1 million, while Adjusted EBITDA rose 56% to $56.2 million.
The underlying tower indicators improved as well. Cash site rental revenue increased 65% year over year excluding T-Mobile interim revenues and DISH revenues, while the tower tenancy rate increased to 0.98 from 0.96 in the first quarter, excluding DISH colocations.
Spectrum monetization is helping Array reduce its exposure to retained wireless licenses while it focuses more heavily on recurring tower operations. TDS said Array completed transactions that monetized virtually all of its spectrum outside the C-Band. The company also issued an $11 special dividend per common share in June.
TDS Ratings Frame the Earnings SignalTDS currently carries a Zacks Rank #1 (Strong Buy). Its Zacks Style Scores are Value Score of C, Growth Score of F, Momentum Score of B and VGM Score of F. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Style Scores provide additional context to the Zacks Rank. The Style Score framework uses Value, Growth and Momentum characteristics alongside the Zacks Rank, while the VGM Score combines the three individual styles. The Zacks Style Score Education material emphasizes that earnings estimate revisions remain the key factor behind the Zacks Rank, while favorable Style Scores can provide an additional signal.
For TDS, the second-quarter results present both sides of the investment case. The earnings beat, faster fiber deployment and improving tower metrics provide evidence of operational progress. However, a material portion of the earnings increase came from spectrum monetization, while TDS Telecom continues to face legacy declines and higher capital requirements. Investors therefore need to distinguish the one-time benefit from spectrum sales from the recurring earnings potential of the company’s expanding fiber and tower businesses.
Reddit zvýšil reklamní tržby o 64 % na 762 milionů USD a už osmé čtvrtletí v řadě roste o více než 60 %. Tržby z kampaní Reddit Max vzrostly ve 2. čtvrtletí 2026 o více než 150 %.
Key Takeaways Reddit's ad revenues jumped 64% to $762 million, marking its eighth straight quarter of 60% growth. Reddit Max usage rose more than 60%, while revenues from Max campaigns surged more than 150% in Q2 2026. Scaled channel revenues doubled, while active advertisers grew more than 70% in the second quarter. Reddit (RDDT - Free Report) is benefiting from a unique position in the digital advertising landscape, especially as it strengthens its ad game against major competitors like Meta Platforms (META - Free Report) (Facebook/Instagram) and Snap (SNAP - Free Report) .
A major driver of Reddit’s advertising success is its robust financial and user growth. In the second quarter of 2026, Reddit achieved its eighth consecutive quarter of more than 60% revenue growth, with advertising revenues rising 64% year over year to $762 million. The platform now reaches more than 0.5 billion people weekly, including more than 130 million daily users. Notably, new app user retention improved 50% year over year, indicating that product enhancements are translating into deeper engagement and higher-quality user growth.
Reddit’s innovation in its ad stack is another key factor in strengthening its competitive edge against Meta Platforms and Snap. The launch and rapid adoption of Reddit Max, an AI-driven suite for ad automation and optimization, has delivered significant results. Advertiser usage of Max grew more than 60% from the first quarter, and revenues from Max campaigns increased by more than 150%. Features like tailored creatives and dynamic product ads are helping brands achieve better outcomes, such as Lenovo’s 40% higher purchase value with Max campaigns compared to standard campaigns.
The company is also expanding its advertiser base and ecosystem, making it easier for businesses of all sizes to succeed on Reddit. Scaled channel revenues, which include mid-market and SMBs, doubled year over year, and active advertisers grew more than 70% in the second quarter of 2026. Integrations with platforms like Shopify and a growing ads API ecosystem are streamlining onboarding and campaign management, further fueling Reddit’s commercial momentum.
With ongoing investments in product innovation, user experience and ad technology, Reddit is poised to capture more advertising dollars and further strengthen its position against Meta Platforms and Snap in the digital ad market. For the third quarter of 2026, management expects revenues between $860 million and $870 million, representing 47% to 49% year-over-year growth. The midpoint implies about 48% year-over-year growth.
How Competitors Fare Against RDDTDespite Reddit’s expanding portfolio, the company faces stiff competition from Meta Platforms and Snap. Both Meta Platforms and Snap are also expanding their footprint in the rapidly growing digital ad market.
Meta Platforms is benefiting from strong advertising demand and improving monetization. In the second quarter of 2026, advertising revenues rose 27% year over year to $59.36 billion, reflecting healthy engagement, user growth, and ad load optimization across Meta Platforms’ services. Ad impressions increased 14% year over year, while the average price per ad advanced 12%.
Snap’s strong advertising revenue has been a major growth driver for the company. In the second quarter of 2026, Snap’s advertising revenues rose 9% year over year to $1.28 billion, reflecting improved momentum with large advertisers in North America, broader adoption of the company’s AI-powered Smart Campaign Solutions and continued strength among small and medium-sized businesses.
RDDT’s Share Price Performance, Valuation and EstimatesRDDT shares have plunged 32.1% year to date, underperforming the broader Zacks Computer & Technology sector’s 17.7% appreciation and the Internet - Software industry’s 1.8% decline.
RDDT Stock Performance
Image Source: Zacks Investment Research
RDDT shares are overvalued, with a forward 12-month Price/Sales of 7.42X compared with the Computer & Technology sector’s 6.54X. RDDT has a Value Score of D.
RDDT Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $5.22 per share, which has been unchanged over the past 30 days. This suggests 8.07% year-over-year growth.
RDDT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Altimmune zveřejnila výsledky za 2. čtvrtletí 2026 a obchodní aktualizaci. Na konferenčním hovoru vystoupili CEO Jerome Durso, CMO Christophe Arbet-Engels, CCO Linda Richardson a CFO Gregory Weaver.
Altimmune, Inc. (ALT) Q2 2026 Earnings Call August 12, 2026 8:30 AM EDT
Company Participants
Luis Sanay
Jerome Durso - Chairman, CEO & President
Christophe Arbet-Engels - Chief Medical Officer
Linda Richardson - Chief Commercial Officer
Gregory Weaver - Chief Financial Officer
Conference Call Participants
Thomas Smith - Leerink Partners LLC, Research Division
Michael DiFiore - Evercore ISI Institutional Equities, Research Division
Eliana Merle - Barclays Bank PLC, Research Division
Srikripa Devarakonda - Truist Securities, Inc., Research Division
Annabel Samimy - Stifel, Nicolaus & Company, Incorporated, Research Division
Catherine Okoukoni - Citizens JMP Securities, LLC, Research Division
Patrick Trucchio - H.C. Wainwright & Co, LLC, Research Division
William Wood - B. Riley Securities, Inc., Research Division
Tsan-Yu Hsieh - William Blair & Company L.L.C., Research Division
Presentation
Operator
Good morning, ladies and gentlemen. Welcome to the Altimmune Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] As a reminder, this call is being recorded.
I'm going to introduce your host for today's conference call, Luis Sanay, Vice President of Investor Relations. Luis, you may begin.
Luis Sanay
Thank you, operator, and good morning, everyone. Thank you for joining us for Altimmune's second quarter 2026 financial results and business update call. On today's call, you will hear from Jerry Durso, our Chairman and Chief Executive Officer; Dr. Christophe Arbet-Engels, Chief Medical Officer; Linda Richardson, Chief Commercial Officer; and Greg Weaver, Chief Financial Officer. Following management's prepared remarks, we'll open the line for questions. Our second quarter 2026 earnings release was issued this morning and can be found in the Investor Relations section of our website.
Before we begin, I would like to remind everyone that remarks made about future expectations, plans, and prospects constitute forward-looking statements for the purpose of safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Altimmune cautions that these forward-looking statements are subject to risks and uncertainties
Sezzle ve 2. čtvrtletí zvýšila tržby o 51,7 % na 149,7 milionu USD a GMV o 37,9 % na rekordních 1,3 miliardy USD. Zároveň zvedla výhled růstu tržeb pro rok 2026 na 35 %.
Key Takeaways Sezzle's Q2 revenues rose 51.7, while GMV climbed 37.9% to a record $1.3 billion.Active subscribers surged 76.4 to 854,000, with purchase frequency rising to 7.2 times.Sezzle raised 2026 revenue growth guidance to 35% and adjusted EPS guidance to $5.25. Sezzle Inc. (SEZL - Free Report) shares entered August carrying high expectations, but the sharp post-earnings reset has changed the investment setup. The company had already attracted attention in 2026 with rapid subscriber growth, rising profitability and an expanding set of financial products. After the recent correction, investors have a different question to consider: whether the lower share price now offers a better entry into a business that is still delivering growth well above that of many payments peers.
SEZL closed at $178.53 on Aug. 6 before plunging nearly 34% on Aug. 7 following its second-quarter report. The selling pressure did not mark the end of the story. Shares subsequently recovered and jumped 8.7% on Aug. 11 to $128.27. Even after that rebound, SEZL remained roughly 28% below its pre-results close. The move has been far more dramatic than recent trading in PayPal (PYPL - Free Report) , while Shift4 Payments (FOUR - Free Report) has also experienced earnings-related volatility. The correction has removed a meaningful part of the valuation risk that surrounded Sezzle before the report.
The reset makes the investment case more interesting. Sezzle continues to grow considerably faster than PayPal and has a different growth profile from Shift4 Payments, while its expanding subscriber base, high engagement and new products could support further earnings gains. Credit costs and execution remain worth watching, but the current share price offers a better balance between growth potential and valuation than it did before earnings.
Year-to-date Price Performance
Image Source: Zacks Investment Research
Sezzle's Growth Story Remains StrongSezzle's second-quarter results showed that the underlying business has not lost momentum. Gross merchandise volume increased 37.9% year over year to a record $1.3 billion, while total revenues climbed 51.7% to $149.7 million. Net income rose to $40.8 million, representing a 27.2% margin, and adjusted EBITDA reached $58 million with a 38.8% margin. Total revenue less transaction-related costs represented 63.5% of revenues, placing the metric near the upper end of management's 55%-65% target range.
The customer metrics make the growth story even stronger. Active subscribers increased 76.4% year over year to 854,000, while Sezzle added a record 140,000 net new subscribers during the quarter. Average quarterly purchase frequency reached 7.2 times, up from 6.1 times in the prior-year period. This combination suggests Sezzle is benefiting from both a larger customer base and deeper engagement among existing users, giving it more than one driver of revenue growth.
Higher Marketing Spending Holds PotentialMarketing expense climbed to $19.4 million during the second quarter as Sezzle deliberately tested how aggressively it could invest in customer acquisition. The encouraging part is that management said the payback period remained below its six-month threshold. Sezzle intends to reduce core marketing spending sequentially in the third quarter, although spending tied to newer products could partly offset that decline. This suggests management is pursuing growth without abandoning its return requirements.
This ability to add customers profitably helps distinguish Sezzle from larger peers. PayPal has far greater scale and a more mature payments ecosystem, while Shift4 Payments has broader exposure to merchant acquiring and payment processing. Sezzle's advantage is its current pace of expansion. If it can continue converting marketing dollars into subscribers with short payback periods, the company can sustain a growth rate that justifies some premium over slower-growing payments businesses.
Raised Guidance Could Still Prove ConservativeManagement lifted its 2026 revenue-growth forecast to 35%, effectively moving to the top of the previous 30%-35% range. Adjusted net income guidance increased to $185 million from $180 million, while adjusted diluted EPS guidance rose to $5.25 from $5.10. Raising both top- and bottom-line expectations after a quarter of elevated marketing investment is a positive signal about the underlying economics of the business.
There may also be upside that is not fully captured in those numbers. Management said the guidance includes very little contribution from SezzleCash and no contribution from Sezzle Send. Nearly 10% of eligible new Sezzle Anywhere subscribers were already requesting a SezzleCash advance as their first transaction, while Sezzle Send had attracted about 100,000 people to its waitlist ahead of launch. If adoption develops without materially weakening credit performance, these products could create another leg of growth.
SEZL’s Estimate Revisions Depict a Bright OutlookOver the past week, earnings estimates for both 2026 and 2027 have been revised upward, signaling a bullish outlook from analysts. These figures also suggest year-over-year growth of 45.96% and 27.10%, respectively.
Image Source: Zacks Investment Research
The Pullback Makes Valuation More AppealingThe biggest improvement in the investment argument may simply be the price investors now have to pay. The stock trades at 6.31X forward 12-month sales per share versus 5.20X for the Zacks sub-industry. On the other hand, PYPL trades at 1.42X forward 12-month sales per share, while FOUR trades near 1.19X forward 12-month sales per share.
This is still not a bargain multiple in isolation, but it looks much more reasonable for a company targeting 35% revenue growth while producing strong profitability. The multiple is also substantially less demanding than it was immediately before second-quarter earnings.
Valuation
Image Source: Zacks Investment Research
Sezzle's faster subscriber and revenue growth gives investors something different from either PYPL or FOUR. If earnings continue to compound quickly, today's valuation could become increasingly reasonable rather than expensive.
SEZL: Credit Is the Main IssueCredit performance remains the most important counterweight to the bullish case. Management expects the provision for credit losses to equal 2.5%-3% of GMV for 2026 and expects normal seasonal increases during the second half. Rapid user acquisition can also increase provisions because newer customers generally produce higher loss rates than established users.
Still, management said it was not seeing an underlying deterioration in repayment behavior or consumer credit health. Sezzle also finished the second quarter with more than $205 million of liquidity, while total debt to trailing-12-month adjusted EBITDA was only 0.5 times. This financial position gives the company room to invest in growth while absorbing normal fluctuations in credit costs.
What Should Investors Do With SEZL Now?The market's initial reaction to the second quarter appears more severe than the change in Sezzle's business outlook. Revenues, GMV, subscribers and earnings remain on a strong upward path, while management raised its 2026 forecasts despite heavier marketing spending. New products provide additional upside that is barely included in guidance.
The rebound on Tuesday also suggests some investors are already reassessing the selloff. SEZL carries volatility and credit risk, but the pullback from its Aug. 6 close has improved the potential reward relative to those risks. For investors comfortable with fintech volatility, the current level looks increasingly attractive for building exposure.
At present, SEZL sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rigetti dodá 9qubitový systém Novera do Pittsburghského superpočítačového centra a zároveň pokračuje v přípravách dříve oznámeného 108qubitového systému pro C-DAC v Indii. Firma zároveň plánuje investovat až 100 milionů USD ve Spojeném království.
Key Takeaways Rigetti is expanding deployments with a 9-qubit Novera system and a planned 108-qubit system in India.Rigetti targets roughly 1,000 qubits, 99.9% two-qubit gate fidelity and sub-50 nanosecond gate speeds.Rigetti plans to invest up to $100 million in the UK, building on its existing 36-qubit NQCC deployment. Rigetti Computing (RGTI - Free Report) continues to strengthen its position in the emerging quantum computing market through progress in commercial deployments, strategic partnerships and government initiatives. The company will deliver a 9-qubit Novera quantum computing system to Pittsburgh Supercomputing Center’s new TangleLab testbed, expanding its collaboration with Hewlett Packard Enterprise and supporting the development of hybrid quantum-classical high-performance computing systems.
Per the second-quarter earnings transcript, Rigetti is also advancing its on-premises quantum computing pipeline, including the previously announced 108-qubit system for C-DAC in India. Growing demand from universities, national laboratories and research organizations provides additional opportunities as customers increasingly seek direct access to quantum hardware for experimentation and ecosystem development.
Meanwhile, the company’s letter of intent with the U.S. Department of Commerce for up to $100 million in funding over three years could provide significant support for superconducting quantum computing research and development, although the proposed funding would involve an equity stake for the government.
On the technology front, Rigetti continues to make progress across key metrics, including qubit count, gate fidelity and operating speed. Its Cepheus 108 qubit system is currently achieving approximately 99.9% median single qubit gate fidelity, 99.1% median two qubit gate fidelity and gate speeds of about 60 nanoseconds.
The company is also targeting systems with roughly 1,000 qubits, 99.9% two-qubit gate fidelity and sub-50 nanosecond gate speeds over the next three years. Investments in dilution refrigeration capacity, chiplet-based architecture and manufacturing capabilities are expected to support this roadmap.
Rigetti is further expanding its international footprint through a planned investment of up to $100 million in the United Kingdom, building on its existing 36-qubit deployment at the National Quantum Computing Centre. These initiatives highlight the company’s focus on scaling its technology and expanding commercial adoption, although achieving higher fidelity and coherence while scaling to larger systems remains critical to realizing quantum advantage.
Peers UpdatesIonQ's (IONQ - Free Report) continues to strengthen its position in the quantum computing market through strategic acquisitions and commercial expansion. The company recently completed the acquisitions of Capella Space and Lightsynq Technologies, broadening its capabilities across quantum networking, secure communications and space-based quantum infrastructure.
IonQ has also secured new government and enterprise partnerships while advancing its roadmap toward large-scale, fault-tolerant quantum systems. These initiatives are expected to enhance its full-stack quantum ecosystem and support long-term commercial adoption.
D-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year. The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
Rigetti’s Price Performance, Valuation and EstimatesShares of RGTI have lost 18.4% in the year-to-date period compared with the industry’s decline of 1.9%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 10.05, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seagate Technology letos posílila o 445.36 % díky silné poptávce hyperscalerů po masových kapacitních úložištích pro AI. Ve 4Q vykázala výnosy 3,629 miliardy USD a non-GAAP EPS 5,71 USD.
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Seagate Technology (NASDAQ:STX | STX Price Prediction) has quietly become one of the AI trade’s most explosive winners, with shares up 445.36% over the past year on surging hyperscaler demand for mass-capacity storage.
Our 24/7 Wall St. price target for Seagate is $916.25, implying 11.67% upside from the current $820.52 price. We rate the stock a buy with high conviction.
24/7 Wall St. Price Target Summary Metric Value Current Price $820.52 24/7 Wall St. Price Target $916.25 Upside 11.67% Recommendation BUY Confidence Level 90% Our confidence is anchored in four consecutive quarterly EPS beats, accelerating cloud demand tied to AI infrastructure, and a HAMR technology roadmap now qualified with every major U.S. hyperscaler.
Q4 Results Anchor the Setup Seagate closed fiscal 2026 in July with a blowout Q4: revenue of $3.629 billion (up 48.5% year over year) and non-GAAP EPS of $5.71, beating consensus by 12.11%. Full-year free cash flow hit a record $3.105 billion, up 279.58%.
Shares have pulled back 9.87% over the past month after peaking near $1,144.18, but the YTD gain still stands at 198.7%. CEO Dave Mosley credited “robust cloud data center demand and disciplined execution” for the run.
The Case for $1,200+ Bulls point to a demand backdrop management has called extraordinary. Mosley told investors “our nearline capacity is fully allocated through calendar year 2026”, with pricing negotiations already underway for 2027 and 2028.
The Mozaic HAMR platform is qualified with all major U.S. cloud service provider customers, and Q1 FY27 guidance calls for revenue of $4.10 billion and EPS of $7.30.
Wall Street’s average target is $1,115.87, with 22 buy ratings against one sell. Our bull-case scenario gets Seagate to $1,217.52, a 48.38% gain.
What Could Go Wrong The trailing P/E of 58 leaves no margin for error if hyperscaler capex cools. Insiders have been net sellers across 252 recent transactions, and Seagate flagged tariff uncertainty and Middle East conflict as guidance risks. A beta above 2 means volatility cuts both ways.
It should be noted, however, that insider selling near record highs often reflects routine profit-taking rather than a fundamental warning, and Seagate retired $1.40 billion in debt during FY26, materially reducing balance-sheet risk. Our bear case sees shares at $682.09.
How Seagate Compares to Western Digital and Micron Western Digital (NASDAQ:WDC) is the closest pure-play HDD peer and directly competes for the same hyperscaler orders. WDC trades at a forward P/E of 22 with a trailing P/E of 18, nearly identical to Seagate’s forward multiple but with slower quarterly revenue growth of 43.8%.
Micron Technology (NASDAQ:MU) offers a memory-side view of the AI storage boom, trading at a forward P/E of just 6, a reminder that memory economics differ sharply from HDD. On balance, peer multiples make our Seagate target look reasonable rather than aggressive.
Company Forward P/E Trailing P/E Seagate 23 58 Western Digital 22 18 Micron 6 20 Seagate Price Prediction 2026-2030 The 24/7 Wall St. price target of $916.25 reflects a buy rating with 90% confidence. The key factor tipping the scale is capacity allocation: Seagate is sold out through 2026 with pricing power intact.
The bull thesis holds if hyperscaler capex commentary stays firm through the next earnings cycle. The setup weakens if forward EPS estimates flatten or HAMR qualifications slip at Mozaic 4.
Year 24/7 Wall St. Price Target 2026 $916 2027 $1,015 2028 $1,100 2029 $1,160 2030 $1,208 These projections assume Seagate continues executing on its HAMR roadmap and hyperscaler demand for mass-capacity storage remains durable. Significant upside or downside could come from a step-change in AI storage architecture or a cyclical hyperscaler capex reset.
Contact [email protected] for any questions or corrections.
Astera Labs ve 2. čtvrtletí vykázala rekordní tržby 392,4 mil. USD, meziročně +104 %, přičemž PCIe 6 tvořil přes 50 % výnosů. Na 3. čtvrtletí čeká tržby 540–560 mil. USD.
Key Takeaways Astera Labs posted record Q2 revenues of $392.4M, up 104%, with PCIe 6 above 50% of revenues. Scorpio X-Series is set to become ALAB's largest product family by the third quarter, ahead of schedule. ALAB expects Q3 revenues of $540M-$560M, driven by Scorpio, Aries and preproduction Taurus shipments. Astera Labs (ALAB - Free Report) is benefiting from surging demand for PCIe (Peripheral Component Interconnect Express) solutions, particularly as AI infrastructure investments accelerate globally. In the second quarter of 2026, Astera Labs reported record revenues of $392.4 million, up 104% year over year, with PCIe 6 products representing more than 50% of total revenues. This growth is driven by the adoption of their Scorpio AI Fabric Switches and Aries Retimers, which are critical for high-speed, low-latency connectivity in hyperscale data centers and AI clusters.
The company’s diversified product portfolio is a key strength. Scorpio X-Series, now in volume production, is set to become ALAB’s largest product family by the third quarter of 2026, ahead of schedule. Aries signal conditioning products also delivered record revenues, driven by the transition to PCIe 6 and the increasing complexity of AI system deployments. Taurus, another product line, is ramping up with 800-gig deployments and next-generation 200-gig per lane solutions, expanding ALAB’s market reach.
Staying ahead of competitors like Marvell Technology (MRVL - Free Report) and Credo Technology Group (CRDO - Free Report) , ALAB needs to maintain its pace of innovation and execution. The company’s roadmap includes next-generation PCIe and UALink protocols, optical connectivity solutions and custom silicon for specialized AI workloads.
ALAB’s COSMOS software platform, which enables dynamic traffic shaping and real-time performance management, adds a layer of differentiation by making its hardware solutions more integrated and stickier for customers. The company is also investing in optical interconnects, with plans to deliver near-packaged optics and co-packaged optics solutions in 2027 and beyond, unlocking new multi-billion-dollar market opportunities.
ALAB’s strong financial performance, robust product pipeline and strategic focus on high-growth connectivity markets position it well to stay ahead of MRVL and CRDO. For the third quarter of 2026, revenues are expected to be between $540 million and $560 million. The midpoint implies sequential growth of approximately 40%, driven by the Scorpio X-Series production increase, continued Aries PCIe 6 retimer strength and preproduction Taurus shipments for 800-gigabit Ethernet applications.
ALAB Faces Stiff CompetitionALAB is facing stiff competition from other industry players like Marvell Technology and Credo Technology Group. Both Marvell Technology and Credo Technology are making strong efforts in the connectivity space.
Marvell Technology’s expanding portfolio has been noteworthy. In June 2026, the company introduced the Teralynx T100, the industry’s first 102.4 Tbps AI-optimized switch silicon, delivering up to 25% lower power consumption and ultra-low latency to improve efficiency and scalability in large AI data center networks.
Credo Technology’s expanding portfolio has been noteworthy. In May 2026, the company completed the acquisition of DustPhotonics, adding industry-leading silicon photonics technology to strengthen its optical interconnect portfolio across 800G, 1.6T and 3.2T solutions. The acquisition enhances Credo Technology’s vertically integrated AI connectivity stack and is expected to be a significant growth driver in fiscal 2027, supported by increasing hyperscale AI adoption.
ALAB’s Share Price Performance, Valuation, and EstimatesALAB shares have surged 87.6% in the year-to-date period, outperforming the broader Zacks Computer & Technology sector’s increase of 17.7%. The Zacks Internet - Software industry has decreased 1.8% in the same time frame.
ALAB Stock’s Performance
Image Source: Zacks Investment Research
ALAB stock is trading at a premium, with a forward 12-month Price/Sales of 20.81X compared with the Internet - Software industry’s 4.09X. ALAB has a Value Score of F.
ALAB’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $ 3.09 per share, which has increased 4.04% over the past 30 days. This suggests 67.93% year-over-year growth.
ALAB’s Zacks RankAstera Labs currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Image Credits:View Stock (opens in a new window) / Getty Images Tesla intends to build a massive solar panel factory 45 minutes southwest of Houston, according to documents filed with the state of Texas.
The new factory, called Project Crystal Sun, could cost as much as $10.1 billion. Tesla has applied for tax incentives to partially offset the cost, saying that it is exploring other sites “across multiple U.S. states.” The factory would create about 9,700 full-time jobs, Tesla said.
Without incentives, Tesla’s accountants estimated that the property tax liability for the project would be about $1.1 billion over 37 years.
The project aims to break ground this year and be completed by 2028, and Tesla said the first solar panels would roll off the line in 2029. The company hasn’t indicated whether the panels would be destined for terrestrial installations or satellites. However, Tesla CEO Elon Musk, who also runs SpaceX, is famously bullish on orbital data centers.
In the filings, Tesla did not publicly disclose the factory’s annual output, though it has said that it plans to build 100 gigawatts’ worth of manufacturing capacity in the U.S. by 2028.
Uber a Wayve se přiblížily autonomním jízdám v Londýně poté, co TfL udělil licence několika samořídícím vozům Wayve. Více než 100 000 lidí se přihlásilo na Uberův seznam zájemců.
Key Takeaways Uber and Wayve moved closer to London autonomous rides after TfL licensed several self-driving vehicles. More than 100,000 people joined Uber's Interest List, with selected riders set to participate this summer. Wayve's AI Driver has been tested in London since 2018 and demonstrated adaptability across 500 cities. Uber Technologies (UBER - Free Report) and Wayve have moved closer to introducing autonomous rides in London after Transport for London (TfL) awarded Private Hire Vehicle licenses to several of Wayve’s self-driving, all-electric Ford Mustang Mach-E vehicles. Equipped with the Wayve AI Driver as well as surrounding cameras and radar, the vehicles underwent inspections to verify compliance with TfL’s safety and policy requirements.
The approvals satisfy the vehicle component of the “triple-lock” requirement for Private Hire journeys, under which the operator, driver and vehicle must be licensed by the same authority. The rides will operate in accordance with the U.K. Government’s AV Trialing Code of Practice and Uber’s TfL Private Hire Operator license. Although Wayve’s technology will handle the driving, a trained, TfL-licensed private hire driver will remain onboard to supervise each journey, provide assistance and assume control when necessary.
Interest among London residents has been significant, with more than 100,000 people joining Uber’s Interest List over the past eight weeks for an opportunity to be matched with a Wayve autonomous ride when the service launches. Later this summer, selected participants will be offered rides and asked to provide feedback, helping the companies refine the experience ahead of a broader public rollout.
Wayve views the license as an important step toward allowing Londoners to experience autonomous driving while supporting the longer-term potential for safer, cleaner and quieter streets. Uber similarly considers the approval a key milestone in introducing autonomous rides in the capital, with the strong response to its Interest List demonstrating considerable public interest in Wayve’s U.K.-developed technology.
Wayve’s AI-first AV2.0 system differs from conventional autonomous-driving technologies that depend on high-definition maps, predefined rules or tightly geofenced operating areas. The AI Driver instead learns from experience, allowing it to adjust to different roads, vehicles, weather and cities. Developed and trained on U.K. roads, the technology has been tested on London’s complex streets since 2018 and has demonstrated its adaptability across more than 500 cities globally.
The development is in line with Uber’s strategy of integrating autonomous vehicles into its mobility platform alongside human drivers. With more than 30 autonomous-vehicle partners and millions of autonomous journeys completed annually, adding Wayve-powered rides in a major market such as London could accelerate Uber’s hybrid-network ambitions. A successful rollout could expand autonomous ride availability, improve network efficiency and support Uber’s objective of making transportation more affordable, sustainable and accessible. It could also provide valuable operational and rider-feedback data that may help Uber refine autonomous mobility deployments in other markets.
Taking a Look at Some Other AV Deals of UberIn June, Uber, in collaboration with WeRide (WRD - Free Report) , a Chinese autonomous vehicle company, announced plans to introduce commercial robotaxi services in the Greater Zurich Region. This move represents their second joint deployment in Europe, coming just weeks after the announcement of a similar initiative in Madrid.
The service is expected to commence later this year in partnership with Switzerland’s Federal Roads Office (“FEDRO”), pending regulatory approvals. At launch, passengers will be able to access the robotaxi service through the Uber app. The launch builds on the partners’ growing track record in autonomous mobility.
Since December 2024, WeRide and Uber have introduced robotaxi services across several Middle Eastern markets, including fully driverless commercial operations in Abu Dhabi and Dubai, as well as public services in Riyadh. These deployments provide an operational foundation for their European expansion. In November 2024, WeRide obtained a driverless permit from FEDRO, allowing autonomous vehicle operations on public roads in Zurich’s Furttal region.
Earlier in the year, Uber entered into a strategic partnership with Amazon’s (AMZN - Free Report) Zoox to deploy its purpose-built robotaxis on the former’s platform. The Amazon unit’s robotaxis differ from many other autonomous vehicles currently in development because they are not modified versions of traditional passenger cars. Instead, the vehicles are purpose-built specifically for ride-hailing services and designed to enhance rider comfort and social interaction. The Amazon unit and Uber indicated that Zoox rides are expected to be available in Los Angeles next year.
UBER’s Share Price Performance, Valuation and EstimatesShares of UBER have gained in double digits over the past six months. Despite the impressive performance, UBER’s shares have underperformed the Zacks Internet-Services industry over the same time frame.
6-Month Price ComparisonImage Source: Zacks Investment Research
From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.51X. UBER is inexpensive compared with its industry.
Image Source: Zacks Investment Research
See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.
Image Source: Zacks Investment Research
Uber’s Zacks RankUber currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A hacking and extortion gang has taken credit for a cyberattack and data breach at Uber Freight, the ride-sharing giant’s logistics subsidiary.
A spokesperson for Uber Freight told Reuters, which first reported the incident, that there was no effect on its business operations and that its systems were running normally (The company did not immediately respond to TechCrunch’s questions about the incident.)
The shipping company is the latest victim in a spate of hacks in recent weeks conducted by the Helix hacking group, which has targeted transportation companies, financial giants, and private equity firms throughout the year. The hackers are known for targeting companies and exfiltrating large amounts of data from their cloud environments, which they then threaten to publish if the victim companies do not pay a ransom.
In a post on its data leak site, which it uses to host the stolen files, the Helix hackers claim to have taken mailboxes, cloud storage drives, files relating to accounts payable and dispatch documents from Uber Freight.
Some of the files seen by TechCrunch appear to show email correspondence between Uber Freight and several of its customers. TechCrunch could not immediately verify the authenticity of the files, which appeared to be dated around mid-June.
Uber Freight has not yet said if it received any correspondence from the hackers, or if it paid the hackers a ransom.
Google said earlier this week that the Helix hacking group is part of a wider umbrella collective of hackers that it tracks as UNC6671. The gang relies on social engineering tactics, such as voice phishing, a tactic that involves calling up IT helpdesks and requesting the reset of employee passwords. Security researchers have long warned that these attacks, while crude and rudimentary, are highly effective at tricking humans into granting access to sensitive systems.
In its blog post, Google said a review of the gang’s bitcoin wallets shows it has made at least $10.6 million in ransom payments between January and May this year.
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Zack Whittaker is the security editor at TechCrunch. He also authors the weekly cybersecurity newsletter, this week in security.
He can be reached via encrypted message at zackwhittaker.1337 on Signal. You can also contact him by email, or to verify outreach, at [email protected].
Key Takeaways Uber's Q2 gross bookings rose 22% at constant currency to more than $58 billion, topping guidance. Mobility bookings climbed 22% as FIFA World Cup travel boosted ride demand across host cities. Uber sees Q3 gross bookings of $58.25-$60.25 billion, implying 18-22% constant-currency growth. Uber Technologies (UBER - Free Report) , the San Francisco-based ride-hailing company, continues to gain from robust growth in gross bookings, supported by sustained demand across its platform. The company has consistently delivered strong double-digit growth in gross bookings across both its Mobility and Delivery segments.
In the second quarter of 2026, gross bookings grew 22% on a constant currency basis year-on-year to more than $58 billion, above the high end of the company’s guidance and marking the fourth consecutive quarter above 20% growth for this key metric. Trips also accelerated with results benefiting from travel linked to the FIFA World Cup.
Segment-wise, Mobility bookings rose 22% year over year on a reported basis and 20% on a constant currency basis to $28.98 billion, supported by continued demand for rides across Uber’s global platform. Uber’s ride-hailing business benefited from the mega event with millions of tourists taking rides across host cities in the United States, Canada and Mexico.
Delivery gross bookings increased 26% year over year on a reported basis and 25% on a constant currency basis to $27.46 billion, while Freight bookings increased 25% year over year on a reported basis as well as on a constant currency basis to $1.57 billion. Growth across all three offerings demonstrated the breadth of the company’s platform during the quarter.
Gross Bookings Q3 View Impressive Despite FX WoesFor the third quarter, Uber expects gross bookings in the band of $58.25-$60.25 billion. The mid-point of the guided range is roughly in line with the Zacks Consensus Estimate of $59.2 billion.
Unlike the previous few quarters, foreign exchange is likely to trim the metric by roughly 1 percentage point. Despite that, the gross bookings forecast implies 18% to 22% year-over-year growth on a constant-currency basis.
Comparable Metrics of Other Ride-Hailing EntitiesGross bookings are strong at rival Lyft (LYFT - Free Report) as well, mainly owing to the growing active rider base, expansion into new markets and the success of its customer-friendly "Price Lock" feature. In the June quarter, gross bookings increased 23% year over year to $5.5 billion at Lyft. This was the 21st consecutive quarter where Lyft posted double-digit year-over-year growth in the key metric, demonstrating the resilience and momentum of its customer-friendly strategy. Active Riders increased 17% year over year to 30.5 million.
For the third quarter of 2026, Lyft anticipates gross bookings to grow 15-19% year over year, reaching $5.5-$5.67 billion.
Singapore-based Grab (GRAB - Free Report) is benefiting from strong growth in its On-Demand Gross Merchandise Value (“GMV”). On-Demand GMV refers to the sum of GMV of the mobility and deliveries segments. In the second quarter of 2026, On-Demand GMV increased 22% year over year (on a constant currency basis) at Grab. Grab expects 2026 revenues between $4.1 billion and $4.15 billion, indicating 22-23% year-over-year growth.
UBER’s Share Price Performance, Valuation and EstimatesShares of UBER have gained in single digits (% wise) over the past three months, outperforming the Zacks Internet-Services industry over the period.
3- Month Price ComparisonImage Source: Zacks Investment Research
From a valuation standpoint, UBER trades at a 12-month forward price-to-earnings of 20.16X, in line with the industry average.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Uber’s earnings has been revised upward over the past 60 days for the third quarter, the fourth quarter, full-year 2026 and 2027.
Image Source: Zacks Investment Research
Uber’s Zacks RankUber currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Odhady zisku pro AT&T pro fiskální roky 2026 a 2027 za posledních 60 dní vzrostly o 1,29 % na 2,35 USD a o 1,18 % na 2,57 USD. Firma zároveň ve 2. čtvrtletí přidala přes 1 milion lokací s optickou sítí a 432 000 paušálních telefonních zákazníků.
Key Takeaways AT&T added over 1M fiber locations in Q2, reaching 38.6M, and targets 40M by year-end.AT&T added 432,000 postpaid phone customers as bundled services helped create higher switching friction.High capex and debt remain concerns as AT&T plans $23-$24B in annual investment and $10B in 2026 buybacks. Earnings estimates for AT&T, Inc. (T - Free Report) for fiscal 2026 and fiscal 2027 have moved up 1.29% to $2.35 and 1.18% to $2.57, respectively, over the past 60 days. The positive estimate revision depicts bullish sentiments about the stock’s growth potential.
Image Source: Zacks Investment Research
T Rides on Solid Wireless and Fiber Traction, Convergence StrategyAT&T is aggressively expanding its fiber footprint. It added more than 1 million fiber locations in the second quarter. Total fiber locations reached are now 38.6 million. The company expects to exceed 40 million locations by the end of 2026 and reach more than 60 million by 2030. The acquisition of Lumen's mass-market fiber business has accelerated AT&T’s fiber expansion strategy.
Wireless remains a major contributor to overall growth. AT&T added 432,000 postpaid phone customers in the second quarter, with churn of just 0.86%. The company added 279,000 fixed wireless connections in the second quarter. The company has been taking several steps to become the customer's single connectivity provider by bundling home internet and wireless. In the second quarter, 42.5% of advanced home internet customers also had an AT&T postpaid wireless account. When customers get dependent on multiple services from a single vendor, it becomes difficult for them to change service providers. This higher switching friction lowers churn rate and boosts customer retention. This significantly boosts the company’s cross-selling opportunities as well.
AI Infrastructure Expansion Can Be a Growth Opportunity in the Long RunThe rising usage of Agentic AI is driving network traffic growth. To support the significant surge of data traffic, the companies need a network that can support near-real-time communication, high bandwidth and significantly greater uplink capacity. A major part of AI processing is expected to move closer to the end user, or the edge, to reduce latency. With a dense metro fiber network combined with nationwide wireless spectrum, AT&T can benefit from this AI infrastructure expansion initiative.
Major Challenges for TAT&T's growth strategy is heavily reliant on continued investment in fiber and wireless infrastructure. The company is expanding fiber aggressively while also investing in its wireless network and spectrum. Such a high capex requirement may impact free cash flow growth in the near term.
AT&T is competing for both wireless and broadband customers. Rivals like Verizon and T-Mobile are also expanding network infrastructure and taking several approaches to drive customer addition. Verizon has also taken a convergence strategy to improve churn rate. Stiff competition in a saturated telecom market is impacting margins.
Amid this high investment requirement, AT&T’s leveraged balance sheet remains a major concern. Net debt-to-adjusted EBITDA was 2.68X at the end of second-quarter 2026, with total debt of $144 billion and cash and equivalents of $17.6 billion. Management expects leverage to rise to about 3.2X after the planned EchoStar spectrum acquisition, before returning to the 2.5X range within about three years. The company also plans $23 to $24 billion of annual capital investment and $10 billion of 2026 buybacks, leaving less flexibility if operating execution weakens.
Price PerformanceAT&T has lost 14% in the past year compared with the Wireless National industry’s decline of 78.9%. The stock has also underperformed the Zacks Computer & Technology sector and the S&P 500’s growth during this period.
Image Source: Zacks Investment Research
The company has underperformed its peers like Verizon Communications Inc. (VZ - Free Report) but outperformed T-Mobile, US, Inc. (TMUS - Free Report) . Verizon has gained 9.3%, while T-Mobile has lost 29.2% year to date.
Key Valuation Metric of TFrom a valuation standpoint, AT&T appears to be trading relatively cheaper compared to the industry and trading below its mean. Going by the price/earnings ratio, the company shares currently trade at 9.86 forward earnings, lower than 33.07 for the industry.
Image Source: Zacks Investment Research
End NoteRapid fiber expansion, healthy traction in the postpaid wireless business are major growth drivers. Effort to reduce churn through bundled product offering is a positive factor. Upward estimate revision underscores growing investors’ confidence on stock’s growth potential. However, fierce competition is weighing on margin. High capex requirement amid elevated debt obligation remains major concern. With a Zacks Rank #3 (Hold), AT&T appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
JPMorgan uvedl, že výnosy z korporátního bankovnictví v Asii a Tichomoří v roce 2026 vzrostly o více než 20 %. Banka proto do roku 2027 dál nabírá a rozšiřuje trade finance i working-capital finance.
Key Takeaways JPMorgan's APAC corporate banking revenues have risen more than 20% in 2026 amid strong regional growth.JPM plans to sustain hiring momentum through 2027, focusing on companies and financial institutions.JPM is expanding trade and working-capital finance as intra-Asia commerce and supply-chain activity grow. JPMorgan Chase & Co.’s (JPM - Free Report) Asia-Pacific corporate banking business continues to grow strongly, with revenues rising more than 20% so far this year, JPMorgan's regional heads, Oliver Brinkmann and Kerwin Clayton, said in an interview with Reuters.
Growing investments and rising intra-Asia trade are creating new opportunities, prompting JPMorgan to sustain its hiring momentum across Asia-Pacific through 2027.
JPMorgan expanded its Asia-Pacific corporate banking workforce by 20% in 2025 and is close to completing another 15% increase this year, Brinkmann and Clayton said. Clayton also mentioned that the bank plans to maintain a similar hiring pace next year to support continued growth across the region.
The hiring will be done to focus on mid-sized and large companies, innovation-economy businesses and financial institutions, including both bank and non-bank financial institutions. This will support JPM's growth across these segments. The continued investment in personnel will expand the company’s corporate banking presence and strengthen client relationships across Asia-Pacific.
JPMorgan Taps AI and Data Center GrowthJPMorgan is seeing increased corporate banking activity across the region, driven by growing investments in AI, data centers and supply-chain infrastructure. The bank is witnessing stronger activity in Taiwan, South Korea, China, Australia, Malaysia and Singapore as companies expand their investments and operations.
These trends are creating additional financing needs while supporting corporate activity and cross-border investment across the region. This is providing further growth opportunities for JPMorgan's corporate banking business.
JPM Expands Trade Finance FocusAlongside these growth areas, JPMorgan is expanding its focus on trade finance and working-capital finance as intra-Asia commerce grows. Rising regional trade and supply-chain activity is driving demand for financing and other banking services, supporting growth in its corporate banking business.
The increased focus is also helping JPMorgan deepen relationships with corporate clients involved in cross-border commerce and capitalize on rising trade activity across Asia.
Our Take on JPMorganJPMorgan's strong Asia-Pacific corporate banking growth highlights the region's increasing importance to its overall business. Continued investments in AI, data centers and supply chains, coupled with rising intra-Asia trade, will support sustained demand for corporate banking services. JPMorgan's continued hiring and focus on trade and working-capital finance should further strengthen its position and support growth across the region through 2027.
Shares of JPMorgan have gained 12.4% so far this year, outperforming the industry’s 11.7% increase.
Image Source: Zacks Investment Research
At present, JPMorgan carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Business Restructuring Initiatives Undertaken by JPM’s PeersRecently, Wells Fargo (WFC - Free Report) and The Bank of New York Mellon (BNY - Free Report) have expanded beyond traditional crypto services into blockchain-based financial solutions.
Wells Fargo is developing tokenized deposits for real-time on-chain payments and settlements, while BNY is partnering with Galaxy Digital to add staking to its Digital Asset Custody platform. These initiatives could help both banks broaden fee-generating opportunities, strengthen client relationships, and capitalize on rising institutional demand for digital assets.
Key Takeaways Boot Barn opened 27 stores in Q1, bringing its footprint to 566 locations across 49 states.BOOT plans to add 70 stores in fiscal 2027, targeting 12%-15% store growth.Every location generates positive 4-wall EBITDA, supporting continued store expansion. Boot Barn Holdings, Inc. (BOOT - Free Report) continues to expand its store footprint, with new store openings continuing to exceed expectations, supporting its ongoing store expansion efforts. The company opened 27 new stores in the first quarter of fiscal 2027, bringing its footprint to 566 locations across 49 states. Management said that the pace of new-store openings has continued to outperform expectations, reinforcing the company’s plans to expand its retail presence.
The company expects a typical new store to generate about $3.2 million in annual revenue, with the investment expected to be recovered in less than two years. BOOT also remains on track to add 70 stores during fiscal 2027, with its existing pipeline supporting the planned expansion. The combination of new-store productivity and relatively short payback periods provides support for continued investment in the store base.
Store-level profitability also remains intact, with every location generating positive 4-wall EBITDA. Although the addition of new stores can place some pressure on occupancy rates, management noted that these locations are still contributing earnings to the bottom line. This indicates that the recently added stores are generating positive earnings while the company continues to expand its footprint.
Over the past 12 months, Boot Barn has added 93 stores, resulting in a 20% increase in its store count. Despite the strong pace of expansion, management continues to prioritize the quality of individual locations rather than opening stores that do not meet its standards. The company is targeting 12% to 15% store growth and remains encouraged by the pipeline for the remainder of the year. Overall, Boot Barn remains well positioned to expand its brand nationwide, with a long-term opportunity to build a network of 1,200 stores across the United States.
Zacks Rundown for BOOTBoot Barn’s shares have gained 14.1% in the past three months compared with the industry’s growth of 16.2%. BOOT presently carries a Zacks Rank #2 (Buy).
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From a valuation standpoint, Boot Barn trades at a forward price-to-earnings ratio of 17.51, higher than the industry’s average of 15.28.
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The Zacks Consensus Estimate for BOOT’s current and next fiscal-year earnings implies year-over-year rallies of 22.6% and 10.5%, respectively.
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Other Stocks to ConsiderSome other top-ranked stocks have been discussed below:
Urban Outfitters, Inc. (URBN - Free Report) offers lifestyle products and services in the United States and internationally. At present, URBN carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for URBN’s current fiscal-year sales and earnings implies growth of 8.8% and 12.7%, respectively, from the year-ago figures. URBN has delivered a trailing four-quarter earnings surprise of 12.2%, on average.
Victoria’s Secret & Co. (VSXY - Free Report) operates as a specialty retailer of women's intimate apparel and other apparel and beauty products worldwide. At present, VSXY carries a Zacks Rank of 2.
The Zacks Consensus Estimate for VSXY’s current fiscal-year sales and earnings implies growth of 9.1% and 55.7%, respectively, from the year-ago figures. VSXY has delivered a trailing four-quarter earnings surprise of 81.9%, on average.
Gap, Inc. (GAP - Free Report) operates as an apparel retail company in the United States, Canada, Japan, Taiwan, and internationally. At present, GAP carries a Zacks Rank of 2.
The Zacks Consensus Estimate for GAP’s current fiscal-year sales and earnings implies growth of 1.1% and 9.9%, respectively, from the year-ago figures. GAP has delivered a trailing four-quarter earnings surprise of 2%, on average.
Odhad zisku na akcii (EPS) společnosti Verizon pro fiskální roky 2026 a 2027 za posledních 60 dní vzrostl na 5,03 USD a 5,29 USD. Firma zároveň těží z nižšího churnu a dohody s Googlem za více než 1 miliardu USD.
Key Takeaways VZ's postpaid gains, lower churn and new offerings are improving customer economics and retention.VZ's $1 billion-plus Google deal and edge data centers could fuel AI infrastructure growth.VZ faces slower FWA growth, heavy debt and intense competition despite improving earnings estimates. Earnings estimates for Verizon Communications Inc. (VZ - Free Report) for fiscal 2026 and fiscal 2027 have moved up 1.21% to $5.03 and 0.38% to $5.29, respectively, over the past 60 days. The positive estimate revision depicts bullish sentiments about the stock’s growth potential.
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Verizon’s Wireless and Broadband Growth Gains MomentumVerizon’s wireless business is showing solid subscriber momentum. During the second quarter, the company posted 184,000 postpaid phone net additions during the quarter, marking its strongest consumer second-quarter performance in five years. Core prepaid net additions totaled 73,000, extending the company's streak of positive prepaid subscriber growth to eight consecutive quarters.
Consumer postpaid phone churn declined to 84 basis points from 95 basis points in the fourth quarter of 2025. Verizon disclosed that promotional customer acquisition costs declined about 15% year over year and retention costs fell about 17%. Hence, the important driver is not only higher gross adds but also lower churn. This shows improving customer economics and greater operating leverage for Verizon.
Verizon has taken several approaches to further boost customer economics. In the second quarter, the company launched its Simplicity wireless plan, Verizon One and a companywide loyalty program. These offerings are designed to reduce churn and increase customer lifetime value. Verizon is increasingly using its wireless and broadband assets together. The Verizon One offering combines mobility and broadband into a single offering. The bundled offering also simplifies the customer experience. By opting for a single service provider for all internet requirements, users can bypass the billing, service and customer support-related complexities from several vendors. For Verizon, it increases customer stickiness, bringing significant cross-selling opportunities.
AI Infrastructure Investment is Becoming a New Growth VectorGoogle has signed an agreement worth more than $1 billion to use Verizon’s dark-fiber routes to connect its data centers. Verizon boasts an extensive metro fiber network that can offer low-latency and resilient connectivity needed to link data centers. Verizon is also converting some of its existing central offices into edge data centers to support AI inference closer to end users. The company is reportedly exploring deals with other hyperscalers as well. These AI infrastructure-related initiatives can become a major revenue-generating source for the next several years.
Major Challenges for VerizonFixed wireless access (FWA) remains an important growth engine for the company. However, FWA net additions fell 30.6% year over year to 193,000 in the second quarter. Clearly, growth momentum has weakened to some extent.
At the end of the second quarter of 2026, total unsecured debt stood at $136.5 billion, while net unsecured debt totaled $128.7 billion. Although both balances improved from the first quarter through stronger cash generation and debt reduction, net unsecured debt to adjusted EBITDA remained 2.5x. As of 2026, Verizon’s current ratio stood at 0.60, while its quick ratio was 0.57. A current ratio of lower than 1 suggests that the company might face difficulties in paying off short-term obligations.
Verizon continues to operate in a mature U.S. wireless market where national carriers and cable competitors compete aggressively on pricing, promotions and bundled offerings. The company faces competition from other major players, such as AT&T, Inc. (T - Free Report) and T-Mobile, US, Inc. (TMUS - Free Report) . AT&T is rapidly expanding its fiber infrastructure and has also undertaken a convergence strategy to drive user growth.
Price PerformanceVerizon has gained 8.2% in the past year compared with the Wireless National industry’s growth of 79%. The stock has underperformed the Zacks Computer & Technology sector during this time period.
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The company has outperformed its peers like AT&T and T-Mobile. Shares of AT&T have declined 13.7%, while T-Mobile has declined 28.8% during this period.
Key Valuation Metric of VZFrom a valuation standpoint, VZ appears to be trading relatively cheaper compared to the industry but trading above its mean. Going by the price/earnings ratio, the company’s shares currently trade at 9.11, lower than 38.13 for the industry.
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End NoteVerizon continues to strengthen its long-term investment case through improving customer acquisition, lower churn, broadband expansion and disciplined execution. Upward estimate revision underscores growing investor confidence. Verizon's new Simplicity plans, Verizon One offering and loyalty program are designed to improve customer retention without materially increasing promotional spending, but sustained competitive responses from rivals could slow margin expansion and reduce the benefits of improving customer economics over time. High debt burden remains a major concern. With a Zacks Rank #3 (Hold), VZ appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Jim Cramer put Intel (NASDAQ:INTC | INTC Price Prediction) back in the spotlight this afternoon, telling followers on X that the chipmaker will be a “major focus name” on the CNBC Investing Club segment, with specific attention on CEO Lip-Bu Tan. The post landed Wednesday, August 12, 2026, teeing up Thursday’s Club discussion and directing retail investor attention toward one of the most closely followed turnaround stories in semiconductors.
Cramer has been building this narrative for months. On his May 18, 2026 Mad Money broadcast, he told viewers that when Tan took the CEO job, the stock was “sitting at around 20 bucks.” He went on to describe the recovery “one of the greatest turnarounds I’ve ever seen.” By June 30, he was calling Intel “currently my favorite stock.”
The Turnaround by the Numbers Intel shares changed hands at $102.15 as of August 12, 2026, following a 4.6% bounce in the session off a recent pullback. The longer lookback tells the real story: shares are up 176.8% year to date and 368.3% over the past year, climbing from a 52-week low of $21.36. Market cap now sits near $515.2 billion.
The rally has been powered by operating results. Intel’s Q2 2026 revenue hit $16.128 billion, up 25.42% year over year and 11.64% above consensus. Non-GAAP EPS came in at $0.42 against a $0.2166 estimate, a 93.1% beat. In the Q2 earnings release filed with the SEC, Tan called it “our strongest revenue growth in more than 15 years.”
Segment mix is where the AI thesis becomes firm. Data Center and AI (DCAI) revenue jumped 59% year over year to $6.262 billion. Client Computing and Physical AI came in at $8.877 billion, up 13%. Intel Foundry revenue reached $5.765 billion, up 31%, though the segment still ran a $2.1 billion operating loss for the quarter.
What Tan Is Building On the earnings call, Tan framed Intel’s position around hard-core AI compute demand, saying “strong demand for our products continues to outpace our growing supply” as the company notched its seventh consecutive quarter of beating financial expectations. He also flagged the process roadmap: Intel 18A output ran roughly 25% above target with yields tracking ahead of expectations, and the company committed to a high-volume ramp of Intel 14A in 2028.
Intel has also received two high-profile votes of confidence. NVIDIA (NASDAQ: NVDA) and the U.S. government took stakes last year, investments Cramer has repeatedly pointed to as proof the turnaround is gaining traction. Intel plans to spend more than $20 billion on capex in 2026 and “significantly” more in 2027, boosting its U.S. investment since 2021 closer to $100 billion.
What Wall Street Sees While Cramer is amped up, the Street remains cautious. Analyst consensus rating skews neutral, with 31 Hold ratings, 12 Buys, 2 Strong Buys, 2 Sells and 1 Strong Sell. The consensus price target sits at $114.05, implying modest upside from current levels. Valuation reflects the recovery: shares trade at a forward P/E of 77 and price-to-sales of 8.64, though the PEG ratio of 0.501 suggests growth is doing some of the work.
What to Watch Next Intel guided Q3 2026 revenue to between $15.8 billion and $16.8 billion, non-GAAP EPS of $0.38, and non-GAAP gross margin near 42%. The market has been unforgiving on earnings reports: even after the Q2 beat, shares fell 7.89% on the earnings day, and INTC is down 7.01% over the past month. Foundry losses, U.S. government equity ownership, and competitive pressure from AMD (NASDAQ:AMD) and ARM-based server designs remain the near-term overhangs Cramer’s Club audience will likely hear discussed on the risk/reward side.
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Pfizer ve 2. čtvrtletí zvýšil tržby mimo COVID o 5 % operativně a tržby z nově uvedených a převzatých produktů o 18 %. Zároveň navýšil výhled tržeb pro rok 2026 o 500 milionů USD.
Key Takeaways Pfizer's non-COVID revenues rose 5% operationally in Q2, while launched and acquired products grew 18%. Pfizer raised 2026 revenue guidance by $500 million, citing stronger non-COVID product performance.Pfizer is targeting 2028 obesity approvals while advancing late-stage oncology candidates for future growth. Pfizer's (PFE - Free Report) business mix has changed significantly over the past few years. During the pandemic, the company became heavily dependent on COVID-19 products, Comirnaty (COVID-19 vaccine) and Paxlovid (oral antiviral). However, the company is gradually diversifying its portfolio through a combination of internal product launches, strategic acquisitions and the continued growth of several established brands.
Pfizer’s non-COVID portfolio is increasingly becoming the company’s primary engine of growth, helping offset the sharp decline in Comirnaty and Paxlovid revenues. The latest second-quarter 2026 results provide particularly strong evidence of this transition. Pfizer’s revenues excluding Comirnaty and Paxlovid increased 5% operationally, while its launched and acquired products grew 18% operationally. Pfizer also raised the midpoint of its 2026 revenue guidance by $500 million, with the company attributing roughly $1.5 billion of the improvement to better-than-expected performance of non-COVID products.
Established Brands & New Products Drive PFE’s Non-COVID GrowthA key driving factor behind growth in non-COVID revenues has been the continued rise in sales of several established brands like Vyndaqel and alliance revenues from partner Bristol-Myers (BMY - Free Report) for Eliquis.
Some internally developed product launches are also contributing to its top-line growth. Key recent product launches include Abrysvo, the first RSV vaccine approved for older adults and for maternal immunization to protect infants; Zavzpret, a nasal spray CGRP antagonist for acute migraine treatment; Hympavzi, a once-weekly treatment for hemophilia A and B with inhibitors; Elrexfio, a BCMA-targeted bispecific antibody for relapsed or refractory multiple myeloma, and Litfulo for severe alopecia areata.
PFE’s Acquisitions Complement Internal R&DThe company is also trying to rebuild its pipeline through acquisitions. Seagen, Metsera and Biohaven are the most significant strategic acquisitions in recent years and could turn out to be transformative opportunities for the company. A key acquired product that has become a significant contributor to revenue growth is Padcev, added from Seagen.
In the second quarter, revenues from Pfizer’s acquired products like Padcev, Nurtec (added from Biohaven) and others grew 25% operationally, when excluding the impact of certain one-time items in the same quarter a year ago.
Pfizer’s Pipeline Provides a Second Wave of GrowthPfizer is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. In obesity, Pfizer plans an extensive phase III program for berobenatide, its monthly GLP-1 receptor agonist added from last year’s Metsera acquisition, in 2026. Pfizer plans to start more than 20 obesity studies in 2026, including 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028. However, in the obesity space, Pfizer lags behind leaders like Eli Lilly (LLY - Free Report) and Novo Nordisk (NVO - Free Report) .
The currently available and highly popular weight loss GLP therapies, Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy, are weekly injections. On the other hand, Pfizer’s berobenatide starts off as a weekly injection and then switches to a monthly injection. Berobenatide is designed for monthly maintenance dosing.
Pfizer is also advancing its oncology clinical pipeline across areas such as breast, thoracic, gastrointestinal and blood cancer. Several oncology candidates have entered late-stage development. Pfizer plans to start four pivotal studies for PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Besides obesity and oncology, Pfizer is advancing candidates in migraine, hemophilia, vaccines, inflammation and immunology. Several of these programs could create additional growth opportunities over the next several years.
ConclusionAlthough Pfizer’s 2026 sales guidance indicates minimal growth, the company expects a high single-digit revenue CAGR for five years, starting from year-end 2028. Pfizer expects its recently launched and acquired products, along with a strong pipeline, to help it return to growth from 2029 onward.
The key question is therefore shifting from “How quickly will Pfizer recover from the decline in COVID revenues?” to “Can its newer products grow rapidly enough to deliver sustainable overall growth amid an approaching patent cliff and continued pricing pressures?” So far, the outlook appears increasingly encouraging. Established growth drivers such as Eliquis, Vyndaqel, Padcev and Lorbrena are already generating meaningful growth, while newer launches, obesity programs and a broader pipeline could provide additional growth opportunities over the next several years.
PFE’s Price Performance, Valuation and EstimatesPfizer’s stock has risen 6.8% so far this year compared with an increase of 13.5% for the industry.
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From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its five-year mean. Going by the price/earnings ratio, Pfizer’s shares currently trade at 9.03 forward earnings, significantly lower than 18.91 for the industry and slightly below the stock’s five-year mean of 9.28. The stock is also trading below most large drugmakers like Lilly, Novo Nordisk, AstraZeneca, AbbVie, J&J and others.
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The Zacks Consensus Estimate for 2026 earnings has risen from $2.96 per share to $2.97 per share, while that for 2027 has risen from $2.86 per share to $2.93 per share over the past 60 days.
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Pfizer has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Gap Inc (NYSE:GPS) shares fell 3.8% on Wednesday after Jefferies downgraded the retailer to "Hold" from "Buy," citing growing concerns over softening trends at its Old Navy division.
The brokerage cut its price target to $23, rolling forward a roughly 9x price-to-earnings multiple on its fiscal 2028 earnings estimate of $2.56 per share.
“We are increasingly concerned about softer trends at Old Navy (data pointing to higher promos & weakening survey metrics),” analysts wrote.
“Importantly, 2Q represents the easiest comparison of the year, yet trends have lagged;;;and only become tougher in 2H.”
Gap guided to low-single-digit percentage comp growth for Old Navy in the quarter, while Jefferies is modeling a 4% decline.
Comparisons get tougher in the back half of the year, with Old Navy lapping a 6% comp gain in the third quarter and a 3% gain in the fourth, according to the note.
Morning Consult survey data cited by Jefferies showed purchase consideration for Old Navy fell 13% year-over-year in July and has weakened sequentially in recent months, while value perception has also deteriorated. The analysts said discounting has increased at the brand alongside several months of pressure on average selling prices. “We are concerned these trends could persist longer than anticipated,” they wrote.
Still, Jefferies said it remains encouraged by the turnaround underway at the Gap brand itself under CEO Richard Dickson, pointing to nine consecutive quarters of positive comps and strong sell-through from initiatives including the Gap x Hailey Bieber partnership. The firm also cited early customer engagement with Gap's beauty and accessories rollout, including fragrance products that have sold out online, though it said it no longer expects a low-single-digit percentage lift to 2027 sales and EBITDA from those initiatives.
