FedEx on Tuesday reported earnings that beat Wall Street expectations on the top and bottom lines.
The earnings report marked the last quarter that includes the company's freight business, which spun off into a separate publicly traded company called FedEx Freight on June 1. The company said FedEx Freight paid a cash dividend of roughly $4.1 billion to FedEx Corporation in connection with the spinoff.
Shares of FedEx dipped roughly 6% in extended trading.
Here's how the company performed in its fiscal fourth quarter compared with what analysts were expecting, according to a survey by LSEG:
Earnings per share: $6.31 adjusted vs. $5.96 expectedRevenue: $25.01 billion vs. $24.04 billion expectedFor the period ended May 31, FedEx reported FedEx Express revenue of $21.57 billion, beating StreetAccount estimates of $20.75 billion. The company reported a 3% year-over-year increase in domestic volume and a 3% increase in U.S. priority volume.
In the fourth fiscal quarter, FedEx reported net income of $1.6 billion, or $6.60 per share, compared with $1.65 billion, or $6.88 per share, in the year-ago period. Adjusting for one-time costs, including the spin-off and retirement plan adjustments, the company reported earnings per share of $6.31.
For the full fiscal year, FedEx reported revenue of $94.7 billion, up from $87.9 billion the year prior.
"The momentum you're seeing across our business is proof that our strategy is working," CEO Raj Subramaniam said on a call with analysts. "It's translating to favorable financial outcomes, including very strong free cash flow and FY '26 results that far exceeded our initial FY '26 outlook."
The company also said it will now change its fiscal year end from May 31 to Dec. 31, effective earlier this month.
For the full year, FedEx said it expects 11% year-over-year revenue growth and adjusted diluted earnings per share of between $16.90 to $18.10.
FedEx saw fuel costs rise from $864 million last year to $1.43 billion this year, marking a 66% jump. Company executives said on the call with analysts that FedEx has not seen an impact to demand due to fuel prices.
The company also said it saw U.S. pricing rise 10%.
Chief Executive Raj Subramaniam said FedEx's growth strategy is working, and with the spinoff of its freight division, the company is positioned to further optimize its network and lower costs.
FedEx Corp (NYSE:FDX, XETRA:FDX) shares fell nearly 5% in after-hours trading on Tuesday after the package delivery company issued fiscal 2027 earnings guidance that came in below Wall Street expectations, overshadowing stronger-than-expected fourth quarter results.
FedEx projected fiscal 2027 adjusted diluted earnings per share of $16.90 to $18.10, below the consensus analyst estimate of $19.86.
The company also expects revenue growth of 11% year-over-year.
For the fourth quarter of fiscal 2026, FedEx reported adjusted earnings per share of $6.31 on revenue of $25 billion, exceeding analysts' estimates of $5.92 per share and $24.01 billion in revenue.
Revenue increased 12.6% from a year earlier, while adjusted EPS rose from $6.07 in the prior-year quarter.
“Team FedEx delivered an impressive finish to a strong fiscal year, providing excellent service to our customers and successfully executing on our transformation initiatives,” FedEX CEO Raj Subramaniam said.
“With the successful spin-off of FedEx Freight, we are entering this next chapter positioned to grow while further optimizing our network, lowering our cost to serve, creating meaningful long-term value, and driving robust free cash flow.”
FedEx (FDX - Free Report) came out with quarterly earnings of $6.31 per share, beating the Zacks Consensus Estimate of $5.91 per share. This compares to earnings of $6.07 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +6.81%. A quarter ago, it was expected that this package delivery company would post earnings of $4.14 per share when it actually produced earnings of $5.25, delivering a surprise of +26.81%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
FedEx, which belongs to the Zacks Transportation - Air Freight and Cargo industry, posted revenues of $25.01 billion for the quarter ended May 2026, surpassing the Zacks Consensus Estimate by 3.42%. This compares to year-ago revenues of $22.22 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
FedEx shares have added about 13.8% since the beginning of the year versus the S&P 500's gain of 9.2%.
What's Next for FedEx?While FedEx has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for FedEx was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.49 on $23.72 billion in revenues for the coming quarter and $21.59 on $97.27 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Air Freight and Cargo is currently in the top 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Transportation sector, Marten Transport, Ltd. (MRTN - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of -22.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Marten Transport, Ltd.'s revenues are expected to be $225 million, down 2.1% from the year-ago quarter.
For the quarter ended May 2026, FedEx (FDX - Free Report) reported revenue of $25.01 billion, up 12.5% over the same period last year. EPS came in at $6.31, compared to $6.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $24.18 billion, representing a surprise of +3.42%. The company delivered an EPS surprise of +6.81%, with the consensus EPS estimate being $5.91.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how FedEx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Federal Express - Package - Average daily package volume - International economy: 592 thousand versus 572.47 thousand estimated by three analysts on average.Federal Express - Package - Average daily package volume - Total international export ADV: 1.17 million compared to the 1.14 million average estimate based on three analysts.Federal Express - Package - Revenue per package - International export composite: $56.17 versus the three-analyst average estimate of $56.56.Federal Express - Freight - Average daily freight pounds - International economy: 12.83 million versus the three-analyst average estimate of 11.58 million.Revenue- Federal Express- Package- International economy: $1.57 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of +8.6% year over year.Revenue- Federal Express- Package- Total international export package revenue: $4.21 billion versus the four-analyst average estimate of $4.08 billion. The reported number represents a year-over-year change of +15.3%.Revenue- Federal Express- Package- U.S. priority: $3.09 billion versus the four-analyst average estimate of $3.01 billion. The reported number represents a year-over-year change of +13.7%.Revenue- Federal Express- Package- U.S. ground: $9.65 billion compared to the $9.46 billion average estimate based on four analysts. The reported number represents a change of +12.3% year over year.Revenue- Federal Express segment: $21.57 billion compared to the $21.11 billion average estimate based on four analysts. The reported number represents a change of +13.7% year over year.Revenue- FedEx Freight segment: $2.41 billion compared to the $2.28 billion average estimate based on four analysts. The reported number represents a change of +4.8% year over year.Revenue- Other and eliminations: $1.03 billion versus the four-analyst average estimate of $926.95 million. The reported number represents a year-over-year change of +8.8%.Revenue- Federal Express- Freight- International priority: $721 million compared to the $686.43 million average estimate based on four analysts. The reported number represents a change of +19.6% year over year.View all Key Company Metrics for FedEx here>>>
Shares of FedEx have returned -16.6% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
FedEx saw its package volume increase during the quarter ended May 31, in both its U.S. domestic business and its international export business, as it helped customers navigate a dynamic macro environment.
FedEx Corp (FDX) Q4 2026 Earnings Call Highlights: Record Margins and Strategic Growth Propel Strong Performance FedEx Corp (FDX) reports robust revenue growth and highest operating margin in four years, despite challenges from fuel costs and global trade policies. Summary
Revenue Growth: Full-year revenue increased by 8%, with a 13% increase in Q4.Adjusted Operating Income: Full-year adjusted operating income grew by 8%, with a 3% increase in Q4.Adjusted Operating Margin: Achieved a 7.7% adjusted operating margin, the highest in four years.FEC Revenue and Income: FEC revenue grew by 14% in Q4, with a 13% increase in adjusted operating income.Adjusted EPS: Delivered $20.24 in adjusted EPS for FY26, with $6.31 in Q4.Free Cash Flow: Achieved $4.7 billion in adjusted free cash flow for FY26.CapEx: FY26 CapEx was $3.8 billion, representing 4% of revenue.Healthcare Transportation Revenue: Exited FY26 with nearly $10 billion in healthcare transportation revenue.International Export Package Volumes: Increased by 5% year-over-year in Q4.US Domestic Volume: Grew by 3% year-over-year in Q4.Yield Growth: FEC package yield increased by 11% in Q4.CY26 Revenue Outlook: Expected revenue growth of approximately 11% for CY26.CY26 Adjusted EPS Outlook: Expected range of $16.90 to $18.10 per diluted share.
Release Date: June 23, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points FedEx Corp FDX exceeded its $1 billion transformation-related savings target for FY26, demonstrating effective cost management.The company reported a 13% increase in Q4 revenue, driven by yield and volume strength across almost all services.FedEx Corp (FDX) achieved a 7.7% adjusted operating margin, the highest in four years, reflecting structural improvements.The spin-off of FedEx Freight positions both companies for success as separate focused industry leaders.FedEx Corp (FDX) reported strong free cash flow and adjusted earnings per share growth for seven consecutive quarters. Negative Points FedEx Freight's adjusted operating income declined, impacting overall financial results.The grounding of the MD-11 aircraft fleet posed significant operational challenges.Higher fuel costs and variable compensation expenses offset revenue gains in Q4.The company faces ongoing headwinds from global trade policy changes and geopolitical unrest.FedEx Corp (FDX) anticipates a low-single-digit volume decline within ground economy services. Q & A Highlights Q: Can you discuss the factors contributing to the expected acceleration in profitability for the remainder of the calendar year?
A: Claude Russ, Interim CFO, explained that the variable compensation headwind seen in Q4 FY26 will dissipate, becoming only a $100 million headwind in the transition year. Additionally, the seasonality will shift, with Q4 being the strongest seasonal quarter. The ongoing base business momentum, both in revenue growth and cost management, supports the expected 19% profit growth and 20% EPS growth.
Q: How much margin improvement is expected for FedEx Express Corporation (FEC) in calendar year '26, and what is the plan for stranded costs?
A: Claude Russ stated that margin improvement is expected year-over-year in both the calendar year and the transition period, with more improvement in the transition year due to variable comp headwinds in the first five months. Regarding stranded costs, $250 million has already been conveyed, and $100 million more is expected to be removed in CY26, with the remaining costs mitigated by CY27.
Q: Can you clarify the impact of fuel on the quarter and how you view the fuel dynamic going forward?
A: Claude Russ noted that the fuel surcharge resets weekly and effectively offsets increased expenses from higher fuel prices. The increased revenue from fuel surcharges was able to materially offset the increased fuel expenses, resulting in no material impact on profit. Brie Carere added that there has been no demand destruction due to elevated fuel prices.
Q: What is driving the momentum in the B2B segment, and how significant is the impact of AI-driven CapEx spending?
A: Brie Carere highlighted that the B2B momentum is driven by profitable market share gains and a focus on core B2B verticals. The quarter saw improvement across all key verticals, with AI and data center wins contributing, especially from Asia. The growth is broad-based, with some inventory restocking also playing a role.
Q: How is FedEx managing its SMB strategy in light of competition from Amazon's third-party logistics expansion?
A: Brie Carere emphasized FedEx's strong SMB performance, with double-digit growth and high customer loyalty. FedEx focuses on B2B and high-value B2C, offering a global network and superior visibility. The company maintains goal congruency with customers, supporting their growth while enhancing FedEx's profitability.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
A Federal Express cargo plane approaches to land in San Diego, California August 24, 2020. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 24 (Reuters) - FedEx (FDX.N), opens new tab shares slid 6% before the bell on Wednesday, as lower margins in its core delivery segment raised investor worries about the company's transition following the spinoff of its highly profitable trucking unit.
FedEx, in a bid to focus on its delivery business, spun off its trucking unit, FedEx Freight (FDXF.N), opens new tab, earlier this month. The slimmed-down company is under investor scrutiny to bolster profits and reduce costs.
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The operating margin in FedEx's Federal Express segment fell to 7.7% from 8.4% a year earlier as costs climbed for employee salaries and benefits as well as outsourced transportation and fuel.
U.S. logistics firms including UPS (UPS.N), opens new tab and FedEx have been battling volume decline due to changing U.S. trade policies, while the Iran war has pushed fuel prices higher.
The loss of duty-free "de minimis" treatment for low-value e-commerce shipments tied to China-linked discount sellers such as Shein and Temu (PDD.O), opens new tab has also weighed on volumes.
"We recognize FedEx could experience an overhang during the time it will take for the market to sort through the different moving pieces of the Freight spin-off and shift to a calendar year reporting period," J.P. Morgan analysts said in a note.
FedEx executives said on a post-earnings call that higher fuel prices did not hurt its demand, adding that fuel surcharges helped offset rising costs.
FedEx, a bellwether for global trade, forecast annual earnings of $16.90 to $18.10 per share, as it shifts its fiscal year to align with the calendar year from its previous May year-end.
Analysts have not yet built models that enable comparisons with the new forecast, which includes just its delivery operations.
"It will be difficult to judge numbers for a few quarters given the noise, but focus will be on fundamental debates," Morgan Stanley analysts said.
FedEx trades at 14.68 times projected 12-month forward earnings, slightly higher than UPS (UPS.N), opens new tab at 14.05.
Reporting by Akriti Shah and Siddarth S in Bengaluru; Editing by Shreya Biswas
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Akrit Shah is a broker research and markets correspondent at Reuters, reporting on brokerage firms, equity research, market trends, and corporate earnings across the U.S. She has several years of experience in journalism and digital media, and previously held roles in digital marketing and social media. Akrit has trained extensively in financial reporting at Reuters and holds certifications in digital marketing. She is a Javaphile who enjoys writing poems and quotes.
Key Takeaways FedEx beat fourth-quarter estimates, with adjusted EPS of $6.31 and revenues of $25.01 billion.FDX expects about 11% revenue growth and adjusted EPS of $16.90-$18.10 in 2026.FedEx plans up to $1 billion in share buybacks after generating $4.7 billion in adjusted free cash flow. FedEx Corporation (FDX - Free Report) used its fourth-quarter fiscal 2026 call to press a forward-looking message. The company said premium revenue mix, network changes and structural cost actions are now producing stronger earnings power even as the reporting calendar shifts and FedEx Freight moves out of continuing operations.
That framing mattered as FedEx posted adjusted earnings per share of $6.31, which beat the Zacks Consensus Estimate of $5.91, delivering a surprise of 6.8%. The company reported revenues of $25.01 billion, surpassing the Zacks Consensus Estimate of $24.18 billion by 3.4%.
FDX Resets the Story Around 2026President and CEO Rajesh Subramaniam said the central takeaway from the fiscal fourth quarter was momentum, arguing that FedEx is now growing in higher-yielding parts of the market while pulling through transformation savings. He tied that progress to Network 2.0, Tricolor and European improvement efforts.
The company introduced a calendar 2026 outlook for continuing operations that calls for about 11% revenue growth and adjusted EPS of $16.90 to $18.10. Management also said the June-through-December transition period implies roughly 20% adjusted EPS growth year over year.
That guidance is now the lens that management wants investors to use. Claude Russ, enterprise vice president and interim CFO, said the midpoint assumes $5.8 billion of adjusted operating income and reflects continuing demand in premium B2B and high-value B2C services.
FedEx Leans Harder Into Premium VerticalsChief customer officer Brie Carere described the quarter as further proof that FedEx’s commercial strategy is centered on revenue quality rather than broad volume chasing. She said B2B services drove most of the quarterly revenue growth, with health care, automotive, aerospace, and data center demand standing out.
That emphasis showed up in operating data. Federal Express segment revenues rose 14% in the quarter, with U.S. domestic package revenues up 13% and international export package revenues up 15%, while composite package yield climbed 11%. International domestic volume, however, fell 9% as the company continued to favor higher-yielding cross-border traffic in Europe.
Carere also highlighted nearly $10 billion in health care transportation revenues exiting fiscal 2026 and pointed to double-digit growth tied to AI and data center-related shipments. She presented that business as a broad ecosystem opportunity rather than a narrow vertical.
FDX Says Cost Actions Are Gaining TractionSubramaniam said FedEx exceeded its fiscal 2026 goal of $1 billion in transformation-related savings, calling that a key proof point behind the quarter. Russ added that structural cost reductions continued to offset higher wage rates, purchased transportation and direct trade-related costs.
The quarter still showed some friction. Consolidated adjusted operating margin was 8.4%, down from 9.1% a year earlier, as fuel expense surged 66% and variable incentive compensation moved higher. Management stressed that fuel surcharge revenues largely offset the profit impact of higher fuel costs.
FedEx also continues to reshape its asset base. Fourth-quarter results included a $23 million impairment tied to the permanent retirement of 10 aircraft, part of a multiyear fleet reduction and modernization strategy meant to better align air capacity with demand.
FedEx Turns Stronger Cash Flow Into FlexibilityRuss used the call to underscore free cash flow as a major part of the equity story. FedEx generated $4.7 billion in adjusted free cash flow in fiscal 2026, while capital spending fell to $3.8 billion, or 4% of revenue, the lowest annual capital intensity in the company’s history.
The balance sheet also shifted with the FedEx Freight separation. Ending cash was $13.3 billion, including a $4.1 billion dividend tied to the spin-off, though management noted that about $800 million of that cash balance reflects IEEPA tariff refunds being held for customers.
Against that backdrop, FedEx said it plans to repurchase up to $1 billion of shares during the rest of calendar 2026 and has already lifted its dividend by 5%, adjusted for the spin-off. Russ said capital allocation will remain balanced as the company also funds pension obligations and strategic investments.
FDX Faces Detailed Questions on Margins and CadenceAnalysts pressed management on why fourth-quarter profit flow-through looked more muted than the transition-year outlook suggests. Russ told Wells Fargo and Bernstein analysts that variable compensation was a large near-term headwind and said seasonality should favor stronger profit concentration in the fourth-quarter results.
Questions also centered on stranded costs after the FedEx Freight separation. Russ said FedEx expects to remove about $100 million of those costs in calendar 2026 and does not expect stranded costs to remain a discussion point beyond the exit rate of 2027.
On the demand side, a Goldman Sachs analyst asked whether B2B strength reflected macro factors or execution in targeted verticals. Carere’s response leaned heavily toward execution, saying the gains were broad across the company’s four key verticals, with AI and data center wins adding to, rather than replacing, wider commercial momentum.
FedEx Leaves the Call Focused on ExecutionThe closing message from management was notably consistent. Subramaniam returned to the idea that FedEx is becoming more concentrated on premium B2B and high-value B2C traffic while using network and organizational changes to lower the cost to serve.
That posture came through in both prepared remarks and Q&A. Management sounded confident on pricing, network utilization, international share gains and free cash flow, while treating the fiscal-year transition, pilot contract costs and stranded costs as manageable items within a broader earnings expansion story.
Zacks Signals for FDX After the QuarterFDX carries a Zacks Rank #3 (Hold), along with a Value Score of B, Growth Score of C, Momentum Score of C and VGM Score of B. Under Zacks’ framework, the rank remains the primary signal, while style scores help refine the outlook, with A and B grades generally indicating better expected near-term performance than lower grades.
The Value Score and VGM Score of B suggest relatively stronger broad style characteristics than its Growth and Momentum scores imply, but a Zacks Rank #3 points to a more balanced near-term setup than a top-ranked stock. That rank can also change as earnings estimate revisions adjust after the just-reported results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On June 24, 2026, we delve into the DCF analysis for FedEx Corp FDX , a company that has shown significant price performance over the past year, with a remarkable increase of 75.9%. Despite a recent dip of 5.2% over the last week, the stock has performed well year-to-date, up 37.6%. Here are some key points to consider:
DCF Earnings-based intrinsic value of $248.94 vs current price of $317.24 (margin of safety: -27.4%) DCF FCF-based intrinsic value of $211.79 vs current price (second opinion: modestly overvalued with -49.8% margin of safety) GF Score™ of 83/100 indicates a strong reliability of the DCF inputs What Is FDX Worth? DCF Earnings-Based Model The DCF earnings-based model for FedEx Corp FDX utilizes a two-stage growth model to estimate the intrinsic value of the stock. In the first stage, we project earnings growth over the next ten years, followed by a terminal growth phase. The assumptions used in this model are critical for determining the valuation.
Parameter Value Current EPS (TTM, excl. non-recurring) $19.95 10-Year Growth Rate 6.2% 10-Year Treasury Rate 4.49% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the first stage (Years 1-10), we assume that EPS will grow at a rate of 6.2% per year, discounted at a rate of 11%. The present value of this growth stage is calculated to be $157.74 per share. In the second stage (Years 11-20), we assume a terminal growth rate of 4%, also discounted at 11%, resulting in a terminal stage value of $91.21 per share. The summary of these calculations is as follows:
Stage Description Value Growth Stage (Years 1-10) EPS growing at 6.2%, discounted at 11% $157.74 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $91.21 Intrinsic Value Growth + Terminal $248.95 The current price of FedEx Corp is $317.24, which indicates that the stock is fairly valued with a margin of safety of -27.4%. It is important to note that GuruFocus uses EPS without non-recurring items in its calculations because research shows stock prices correlate more closely with earnings than with free cash flow. For more details, you can visit the FDX DCF Calculator.
What Does the Free Cash Flow DCF Say? The free cash flow (FCF) based intrinsic value for FedEx Corp is calculated to be $211.79. When compared with the earnings-based intrinsic value of $248.94, the two models present differing perspectives on the valuation of the stock. The FCF model suggests that FedEx is modestly overvalued, with a margin of safety of -49.8%.
How Does GF Value™ Compare to the DCF Models? The GF Value™ for FedEx Corp is calculated at $231.61, providing a third perspective on the valuation. GF Value™ is GuruFocus' proprietary measure, which is derived from historical trading multiples, past business growth, and future performance estimates. When considering all three models, there is a consensus that FedEx is currently overvalued. For more information, you can check the GF Value™ page.
What Does FDX's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtesting from 2006 to 2021. The current GF Score™ for FedEx is 83/100, indicating a strong overall performance. Here is a breakdown of the GF Score™ metrics:
Metric Rating GF Score™ 83/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 5/10 Momentum 9/10 With a predictability rank of 1/5 stars, it indicates that the DCF model may be less reliable for this stock. For further insights, visit the FDX stock page.
Key Assumptions and Limitations It is important to note that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as FedEx's 1/5 stars, tend to produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not fully capture future business dynamics.
What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—it is clear that FedEx Corp is currently overvalued based on the consensus of these analyses. The earnings-based model suggests a fair valuation, while the FCF model indicates a modest overvaluation, and GF Value™ further supports this perspective.
For the full DCF analysis, visit the FDX DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.
Frequently Asked Questions What is FDX's intrinsic value based on DCF?
Answer: earnings-based $248.94, FCF-based $211.79
Is FDX overvalued or undervalued?
Answer: Based on DCF and GF Value™ consensus, FDX is currently overvalued.
How reliable is the DCF model for FDX?
Answer: The predictability rank of 1/5 indicates that the DCF model is less reliable for FDX.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
FedEx shares fell more than 7% in premarket trading on Wednesday as investors looked past better-than-expected quarterly earnings and focused on shrinking margins at the company's core delivery business and the uncertainties created by its recent freight spinoff.
The delivery giant recently separated its highly profitable trucking unit, FedEx Freight, as part of a strategy to sharpen its focus on its parcel delivery operations.
The move has placed the slimmed-down company under increased scrutiny, with investors looking for evidence that it can improve profitability and control costs independently.
The operating margin in FedEx's Federal Express segment declined to 7.7% in the latest quarter from 8.4% a year earlier.
The deterioration was driven by higher employee compensation costs as well as increased spending on outsourced transportation and fuel.
The margin pressure comes at a difficult time for logistics companies.
Both FedEx and rival UPS have been grappling with lower shipment volumes amid changing US trade policies and rising fuel prices linked to the conflict involving Iran.
The removal of duty-free "de minimis" treatment for low-value e-commerce imports tied to China-linked online retailers such as Shein and Temu has also weighed on shipping demand.
FDX reported fourth-quarter revenue of $25 billion and adjusted earnings of $6.31 per share.
The earnings figure included adjustments related to the freight spinoff and changes in retirement plan accounting.
Analysts polled by FactSet had expected revenue of $24 billion and adjusted earnings of $5.96 per share.
For the full fiscal year ended in May, adjusted earnings came in at $20.24 per share, topping analysts' estimates of $19.86 and exceeding the company's prior guidance range of $19.30 to $20.10 per share.
However, investors remained focused on the company's forward outlook.
FedEx forecast annual earnings of $16.90 to $18.10 per share as it transitions to a calendar-year reporting period from its previous May fiscal year-end.
Because the guidance only covers the company's delivery operations following the freight separation, analysts have not yet developed comparable models, making it difficult for investors to assess the outlook.
"It will be difficult to judge numbers for a few quarters given the noise, but focus will be on fundamental debates," Morgan Stanley analysts said.
JP Morgan analysts also warned that the company could face a period of uncertainty.
"We recognize FedEx could experience an overhang during the time it will take for the market to sort through the different moving pieces of the Freight spin-off and shift to a calendar year reporting period," they said.
Citi analysts noted that expectations heading into the results were elevated, with FedEx shares having gained roughly 75% over the past year.
They added that confusion surrounding the freight spinoff, which took effect on June 1, may have contributed to the negative market reaction.
Analysts remain constructive on long-term prospectsDespite the near-term uncertainty, some analysts remain optimistic about FedEx's long-term outlook.
FedEx currently trades at 14.68 times projected forward earnings over the next 12 months, slightly above UPS's multiple of 14.05.
Jefferies analyst Stephanie Moore said margins in FedEx's delivery operations are likely near their lowest point and should improve over time through technology investments and operational efficiencies.
According to Moore, FedEx's margins remain less than half those of competitor Old Dominion.
She expects initiatives, including a new sales strategy and technology improvements that increase package density in trucks to help expand margins by 350 basis points by 2029.
She also expects the company to benefit from a broader recovery in freight markets and has initiated coverage on FedEx with a buy rating.
U.S. stock futures were mixed this morning, with the Nasdaq 100 futures gaining more than 100 points on Wednesday.
Shares of FedEx Corp (NYSE:FDX) fell sharply in pre-market trading following fourth-quarter results.
FedEx reported better-than-expected earnings for the fourth quarter of fiscal 2026 after the market closed on Tuesday. However, the company said operating margin in the Federal Express segment shrank to 7.7% from 8.4% a year ago.
FedEx delivered fourth-quarter revenue of $25 billion, beating analyst estimates of $24.04 billion, according to Benzinga Pro. The company posted adjusted earnings of $6.31 per share, beating estimates of $5.96 per share.
FedEx shares dipped 6.7% to $295.92 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
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FedEx earnings for the fiscal fourth quarter topped Wall Street estimates and the courier is projecting that profit will grow this year. The results suggest cost-cutting efforts are working.
FedEx Corporation (NYSE:FDX) shares are trading lower Wednesday. The company reported fourth-quarter financial results on Tuesday after the market closed.
FedEx stock is among today’s weakest performers. Why are FDX shares down? Q4 HighlightsFedEx reported adjusted earnings per share of $6.31, beating the consensus estimate of $5.96. In addition, the company reported revenue of $25.00 billion, beating the consensus estimate of $24.04 billion.
Federal Express segment operating results improved during the quarter, driven by increased U.S. domestic and International Priority package yields, continued cost savings from transformation initiatives and higher U.S. domestic and international export package volume. The company also completed its spin-off of FedEx Freight on June 1.
The company ended the quarter with $13.3 billion in total cash and cash equivalents and intends to repurchase up to $1 billion worth of shares opportunistically throughout the rest of the calendar year.
“Our profitable growth strategy is working. We are building momentum across our global industrial network, driving structural improvements and winning in high-value growth markets,” said Raj Subramaniam, President and CEO.
“With the successful spin-off of FedEx Freight, we are entering this next chapter positioned to grow while further optimizing our network and driving robust free cash flow.”
OutlookFedEx expects revenue growth of 11% year-over-year for calendar year 2026 and guided for adjusted earnings in the range of $16.90 to $18.10 per share.
FedEx Shares FallFDX Price Action: At the time of publication, FedEx shares are trading 7.35% lower at $293.91, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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TEL AVIV, Israel and PARSIPPANY, N.J., June 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today that it will issue a press release on its second quarter 2026 financial results on Wednesday, July 29, 2026, at 7:00 a.m. ET. Following the release, Teva will conduct a conference call and live webcast on the same day, at 8:00 a.m. ET.
In order to participate, please register in advance here to obtain a local or toll-free phone number and your personal pin.
A live webcast of the call will be available on Teva's website at: https://ir.tevapharm.com/Events-and-Presentations.
Following the conclusion of the call, a replay of the webcast will be available within 24 hours on Teva's website.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
This Document and the presentation at the conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully compete in the marketplace; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026, and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
NDA submission supported by positive Phase 3 data recently published in JAMA Neurology.Ecopipam is a first-in-class selective dopamine D1 receptor antagonist with a novel mechanism of action and has received FDA Orphan Drug and Fast Track designationsEcopipam could be the first FDA-approved treatment option for pediatric Tourette syndrome in more than a decade, if approved.
TEL AVIV, Israel, June 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for ecopipam, a first-in-class investigational therapy for the treatment of pediatric Tourette syndrome.
“The NDA submission for ecopipam is a significant milestone for a potential first-in-class treatment option in pediatric Tourette syndrome,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer of Teva. “This reflects the momentum in our innovative pipeline through our recent acquisition of this important asset, and advances our Pivot to Growth strategy and commitment to bringing differentiated medicines for patients.”
The NDA submission is supported by positive Phase 3 data recently published in JAMA Neurology, which showed that ecopipam significantly delayed time to relapse compared with placebo in pediatric patients with Tourette syndrome who had achieved a clinical response during the open-label treatment period. In the study, ecopipam demonstrated a statistically significant benefit on the primary efficacy endpoint in pediatric patients (p = 0.008) and was generally well tolerated, with the most common adverse events related to ecopipam therapy including somnolence, insomnia, anxiety, fatigue and headache.
About Tourette Syndrome
Tourette syndrome is a chronic neuro-developmental disorder character by involuntary motor and vocal tics beginning in childhood, often between 5 and 10 years of age. For people living with Tourette syndrome, symptoms can be frequent, visible, and disruptive, affecting everyday life. Despite the current treatment options available, many patients continue to experience inadequate treatment control or treatment-limiting side effects, underscoring the need for additional options.
About ecopipam
Ecopipam is a first-in-class investigational therapy designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.
Ecopipam has received Orphan Drug and Fast Track designations from the FDA for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.
Results from the Phase 3 study in Tourette syndrome were recently published in JAMA Neurology. The primary efficacy endpoint in the study was time to relapse (based on YGTSS-TTS scale) for pediatric patients who were stable and responding to ecopipam. The study showed statistical significance between ecopipam and placebo for the primary efficacy endpoint in pediatric patients (p = 0.008). Ecopipam was generally well-tolerated in the study and the most common adverse events related to ecopipam therapy were somnolence (n = 24 [11.1%]), anxiety (n = 21 [9.7%]), headache (n = 21 [9.7%]), insomnia (n = 19 [8.8%]), tic (n = 17 [7.9%]), and fatigue (n = 14 [6.5%]).
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause Teva’s future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements.
All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “developing,” “target,” “may,” “expand,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future performance. Important factors that could cause or contribute to such differences include risks and uncertainties relating to: our ability to successfully develop, obtain regulatory approval for and commercialize ecopipam; our ability to successfully compete in the marketplace including our ability to develop and commercialize ecopipam and additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
Teva Pharmaceuticals (TEVA +3.14%) is morphing from a generic drug maker into one that develops more innovative -- and profitable -- drugs. The stock is up more than 10% this year, and more than 95% over the past year.
On June 8, the company released data regarding its therapies, Austedo and Austedo XR (extended relief), at the Psych Congress Elevate. The three-year study showed that while more than 50% of tardive dyskinesia patients saw symptom improvement in controlling involuntary movements within 15 weeks, an additional 23% achieved success with long-term treatment.
This means that Austedo XR may be able to expand beyond its approved use to treat the involuntary movements (chorea) of Huntington's disease. The company also released a study on June 5 showing that 60% to 71% of Huntington's disease chorea patients experienced improvement with Austedo or Austedo XR.
This data provides doctors with strong therapeutic justification to prescribe Austedo or Austedo XR over competitors, securing market share for years to come. Here's one more reason to buy Teva stock, and one reason not to.
Image source: Getty Images.
The company's pivot is becoming more profitable In the first quarter of 2026, the company reported revenue of $4 billion, up 2% year over year. Its innovative brands, Austedo, migraine med Ajovy, and long-acting schizophrenia therapy Uzedy, together grew revenue by 41% over the same period last year. Earnings per share (EPS) rose 72% year over year, to $0.31. The key point is that the company's new drugs are offsetting its declining generic sales.
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Meanwhile, the company's application for a long-acting version of olanzapine for once-monthly treatment of schizophrenia is currently under review by the Food and Drug Administration (FDA).
This structural pivot expanded Teva's non-GAAP gross profit margin to 52.9% in Q1. The company is generating healthy free cash flow, estimated at $2 billion to $2.4 billion this year, which is being actively used to pay down its heavy debt load.
In April, the Israeli pharma struck a deal to acquire Emalex Biosciences for $700 million upfront. This included ecopipam, a dopamine D1 receptor antagonist that's en route to an FDA submission for Tourette syndrome this year. The drug has already received FDA fast-track and orphan drug designations.
Disappointing guidance, supply issues Teva's overall full-year 2026 financial guidance disappointed Wall Street. The company projected total 2026 revenue of $16.4 billion to $16.8 billion -- representing flat to slightly negative growth compared to 2025. That helps explain why the stock has fallen more than 3% since Teva released its Q1 earnings on April 29.
This stagnation is primarily due to intense generic competition eating into other parts of the portfolio (such as the generic version of the cancer drug Revlimid) and a drop-off in one-time milestone payments from partnerships (such as Sanofi). Because Austedo XR is carrying so much weight on its shoulders, any future slowdown in its adoption could leave Teva with very few places to hide, capping the stock's near-term upside until its next-generation immunology pipeline begins to commercialize in 2027.
The other concern is that ongoing conflicts in the Middle East and the blockade of the Strait of Hormuz have disrupted the movement of active pharmaceutical ingredients, and rising energy costs make it more expensive to ship drugs.
It's still a company headed in the right direction The company's move to pursue growth is obviously paying off, and its innovative drugs target conditions with unmet needs, giving them less competition.
Teva received FDA approval in March for biosimilar Ponlimsi to treat osteoporosis and bone loss. The company's pipeline includes six additional biosimilars that are expected to receive regulatory decisions this year. One of the most promising is omalizumab, a biosimilar to Xolair, made by Novartis (NVS +0.79%) and Roche (RHHBY +2.50%) to treat chronic hives.
The stock is trading at less than 15 times forward earnings, and considering its potential catalysts this year, that still seems like a bargain.
Key Takeaways Teva submitted an NDA for ecopipam to the FDA for treating pediatric Tourette syndrome.Ecopipam demonstrated statistically significant benefit in a phase III study's primary efficacy endpoint.Teva gained ecopipam through the Emalex acquisition. The therapy has FDA Fast Track and Orphan Drug tags. Teva Pharmaceutical Industries Limited (TEVA - Free Report) announced that it has submitted a new drug application (NDA) to the FDA seeking approval for ecopipam for treating pediatric Tourette syndrome.
The NDA for ecopipam was based on positive data from a phase III study, which was recently published in JAMA Neurology.
Data from the study showed that treatment with ecopipam significantly delayed time to relapse versus placebo in pediatric patients with Tourette syndrome who had achieved a clinical response during the open-label treatment period. Treatment with ecopipam led to a statistically significant benefit on the study’s primary efficacy endpoint in pediatric patients and was generally well tolerated.
A potential approval of ecopipam could provide the first FDA-approved treatment for pediatric Tourette syndrome in more than a decade, addressing a high unmet need in a specialized neuroscience segment.
TEVA Price PerformanceYear to date, shares of Teva have risen 0.9% against the industry’s decline of 3.5%.
Image Source: Zacks Investment Research
TEVA’s Recent Acquisition of EcopipamEarlier this month, Teva completed its previously announced acquisition of Emalex Biosciences, gaining access to the latter’s late-stage candidate ecopipam. Per the terms of the deal, Teva paid $700 million upfront and could make up to $200 million in additional milestone payments, along with royalties tied to future net sales.
The deal is likely to strengthen Teva’s innovative medicines pipeline.
Ecopipam is a first-in-class investigational therapy that works by blocking dopamine activity at the D1 receptor. Increased sensitivity of this receptor is thought to contribute to the repetitive and compulsive behaviors commonly associated with Tourette syndrome.
Ecopipam’s unique mechanism as a selective dopamine D1 receptor antagonist sets it apart from existing treatments that primarily target D2 receptors, potentially offering improved symptom control with a differentiated safety profile.
The FDA has granted Orphan Drug and Fast Track designations to ecopipam for the treatment of pediatric patients with Tourette syndrome.
Tourette syndrome is a childhood-onset neurological disorder characterized by involuntary motor and vocal tics. Although some treatment options are available, many patients continue to experience insufficient symptom control or treatment-limiting side effects.
TEVA’s Zacks Rank & Stocks to ConsiderTeva currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the drug/biotech sector are Indivior Pharmaceuticals (INDV - Free Report) , Immunocore (IMCR - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have risen from $3.33 to $4.05, while estimates for 2027 have increased from $3.66 to $4.27 during the same time. INDV shares have risen 6.7% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss of 88 cents per share to earnings of 6 cents. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR stock has lost 17.6% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 46.66%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $1.50 to $2.97, while estimates for 2027 have increased from $2.91 to $4.81 during the same time. LQDA shares have surged 106.1% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.
Key Takeaways Teva is shifting toward branded medicines as a higher-margin growth driver alongside generics.Sales of Austedo, Ajovy and Uzedy rose 41% year over year to $838 million in first-quarter 2026.Teva expects branded products to generate more than $5 billion in revenues by 2030. Teva Pharmaceutical Industries Limited (TEVA - Free Report) has, for long, been one of the world’s largest generic drug companies. However, Teva is gradually transitioning from a pure-play generics company to a more diversified biopharma company. Its biggest growth driver now is its higher-margin branded/innovative drugs rather than traditional generics.
The company's strategic transformation accelerated under its "Pivot to Growth" initiative. Management has focused on strengthening the branded drugs segment by investing in research and development, pursuing targeted acquisitions and partnerships, and expanding its commercial capabilities in specialty therapeutic areas. Rather than attempting to compete across numerous disease categories, Teva has concentrated on areas where it possesses scientific expertise and can establish meaningful market positions, including neuroscience, immunology and respiratory diseases.
The company is seeing continued market share growth of its newest branded drugs, Austedo, Ajovy and Uzedy. Collectively, sales of Austedo, Ajovy and Uzedy rose 41% year over year to $838 million in the first quarter of 2026.
Global sales of Austedo, one of the major pillars of Teva's branded business, rose 41% to $578 million in the first quarter, backed by strong prescription growth. The drug is approved for movement disorders associated with conditions such as tardive dyskinesia and Huntington's disease. Teva expects Austedo annual revenues to be more than $2.5 billion by 2027 and exceed $3 billion by 2030. The Austedo franchise got a boost from the launch of Austedo XR, a new once-daily formulation of Austedo. Teva launched Austedo in European markets in 2026, which should further contribute to growth.
Global revenues of its migraine drug, Ajovy, rose 35% (constant currency) year over year to $196.0 million in the first quarter. Although Teva is experiencing slightly slower growth of Ajovy in the U.S. market, it anticipates sales to benefit from continued patient growth and launches in additional countries in Europe and international markets. In 2026, Ajovy sales are expected to be in the range of $750 million to $790 million.
Another important branded asset is Uzedy, a long-acting injectable treatment for schizophrenia. Management believes Uzedy has substantial long-term potential because long-acting injectable antipsychotics are increasingly being adopted in psychiatric care. Sales of Uzedy rose 62% to $63 million in the first quarter, with total sales expected to be between $250 million and $280 million in 2026.
The company has also made decent progress with its branded pipeline, which includes olanzapine, a long-acting subcutaneous injectable (LAI) for treating schizophrenia and duvakitug, its anti-TL1A therapy for inflammatory bowel diseases (IBD), ulcerative colitis (UC) and Crohn’s disease (CD). Teva has partnered with Sanofi (SNY - Free Report) for duvakitug to maximize the value of the asset. Teva and Sanofi will equally share the development costs globally. While olanzapine LAI is under review in the United States and the EU, Sanofi is conducting phase III studies on duvakitug.
In April, Teva announced a definitive agreement to acquire Emalex, including its lead asset, ecopipam. The acquisition closed in June. Ecopipam is a late-stage, first-in-class therapy for pediatric Tourette syndrome, which is a natural fit for Teva’s central nervous system franchise. Earlier this month, Teva filed a new drug application to the FDA seeking approval for ecopipam.
While generics remain an important part of Teva's business and continue to generate substantial revenues and cash flows, management's strategy over the past several years has increasingly centered on building a sustainable portfolio of innovative medicines that can drive higher growth and improve profitability. Branded medicines are expected to become increasingly important contributors to Teva's long-term growth because they generally offer significantly higher margins and longer periods of market exclusivity than generic products.
In 2022, only about 9% of Teva’s revenues came from its branded drugs, which has now increased to more than 20%. Teva anticipates generating more than $5 billion in revenues from its branded products by 2030.
If Teva continues to successfully commercialize its existing branded products and advance its pipeline, the company could evolve into a more diversified pharmaceutical company with a healthier balance between stable generics operations and higher-growth innovative medicines.
TEVA’s Price, Valuation & Estimate DiscussionTeva stock has risen 3.2% so far this year against the industry’s 5.1% decrease.
Image Source: Zacks Investment Research
The stock is trading at an attractive valuation relative to the industry. Going by the price/earnings ratio, the company shares currently trade at 11.82 on a forward 12-month basis, lower than 14.52 for the industry. However, the stock is trading above its 5-year mean of 4.65.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for earnings has declined from $2.69 per share to $2.33 per share for 2026 over the past 60 days and from $3.19 per share to $3.16 per share for 2027.
Image Source: Zacks Investment Research
TEVA’s Zacks Rank & Stocks to ConsiderTeva has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, earnings estimates for Indivior Pharmaceuticals have risen from $3.33 per share to $4.05 per share, while those for 2027 have increased from $3.66 per share to $4.27 per share. INDV shares have risen 6.8% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss of 88 cents per share to earnings of 6 cents per share. For 2027, earnings estimates have increased from 24 cents per share to 87 cents per share over the same timeframe. IMCR shares have lost 15.4% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.
Investors looking for stocks in the Financial - Miscellaneous Services sector might want to consider either Intercorp Financial Services Inc. (IFS - Free Report) or American Express (AXP - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, Intercorp Financial Services Inc. has a Zacks Rank of #1 (Strong Buy), while American Express has a Zacks Rank of #3 (Hold). This means that IFS's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
IFS currently has a forward P/E ratio of 9.34, while AXP has a forward P/E of 19.36. We also note that IFS has a PEG ratio of 0.77. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. AXP currently has a PEG ratio of 1.38.
Another notable valuation metric for IFS is its P/B ratio of 1.69. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, AXP has a P/B of 6.84.
These metrics, and several others, help IFS earn a Value grade of B, while AXP has been given a Value grade of C.
IFS is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that IFS is likely the superior value option right now.
The Berkshire Hathaway annual meeting is in the rearview mirror, and investors are now parsing Greg Abel’s early portfolio moves as CEO. The Q1 2026 13F told a clear story: Abel is willing to do the things Warren Buffett openly regretted not doing sooner. That includes finally embracing big tech, leaning harder into AI-exposed names and continuing to compound the consumer franchises Buffett built the empire around.
Here are three U.S.-listed stocks that fit the “ones that got away, until they didn’t” theme this June.
Alphabet (GOOGL) Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) is the freshest example. Per the Q1 2026 13F, Abel aggressively added to GOOGL, with shares up about 204% in the quarter, and a separate GOOG position was initiated the same quarter. Buffett and Charlie Munger both publicly called missing Google a mistake. Abel is correcting it.
The setup is hard to argue with. Q1 2026 EPS came in at $5.11 versus the $2.63 estimate, with revenue of $109.90 billion, up 22% year over year. Google Cloud grew 63% to $20.03 billion with a backlog near $460 billion. Shares trade at $369.35 on a forward P/E of 26x, with a Street target of $432.83 and 14 strong-buy and 43 buy ratings against just 7 holds. The stock is up 18% YTD and 112% over one year.
Retail is along for the ride. A widely circulated r/stocks post titled “For those who keep asking for a ‘one buy and hold for the next 10 years’ the opportunity is here: it’s GOOGL” drew 2,134 upvotes.
Risk: AI CapEx is mammoth. Alphabet guided 2026 capex of $175 billion to $185 billion, and Q1 free cash flow already fell 47% year over year. If AI monetization slips, the depreciation wave will bite margins.
Apple (AAPL) Apple (NASDAQ:AAPL) remains Berkshire’s largest holding at roughly 22% of the portfolio. Buffett has said multiple times he wishes he had started buying sooner. He didn’t begin until 2016, and the stock is up 1,266% over the past 10 years. Even after trimming, Berkshire still leans on Apple as its anchor.
Recent results explain why. Q2 FY26 EPS of $2.01 beat the $1.94 estimate on revenue of $111.18 billion, up 17%. iPhone revenue jumped to $56.99 billion from $46.84 billion on iPhone 17 demand. Services hit an all-time record of $30.98 billion. Management authorized a new $100 billion buyback and lifted the dividend 4% to $0.27. CEO Tim Cook called it the “Best March quarter ever…double-digit growth across every geographic segment.”
Shares trade at a premium, with a forward P/E of 31x and an analyst target of $312.72. The installed base sits at 2.5 billion-plus active devices, a moat that compounds Services revenue every quarter.
Risk: Valuation is the friction. At a trailing P/E of 35x, any tariff escalation or China softness gets punished quickly. An r/stocks thread asking “is there underappreciated risk of AAPL re-rating significantly downward?” drew 146 comments, a fair counterpoint to the bull case.
American Express (AXP) American Express (NYSE:AXP) is a long-time Berkshire core holding. Buffett has said he should have bought more sooner and never sold. The position dates back decades, and Abel has signaled comfort holding through cycles.
The Q1 2026 numbers reinforce why. EPS of $4.28 beat the $3.99 estimate, revenue came in at $18.91 billion, and billed business hit $428.0 billion, up 10% year over year, the highest quarterly growth in three years. The net write-off rate improved to 2% from 2%. Management reaffirmed full-year guidance of 9% to 10% revenue growth and EPS of $17.30 to $17.90. CEO Stephen Squeri summed it up: “We delivered 10 percent FX-adjusted revenue growth and 18 percent EPS growth in the quarter…Card Member spending grew 9 percent FX-adjusted, the highest quarterly growth in three years.”
Shares closed at $340.78, with the stock down 9% YTD but up 7% in the past week and 18% over one year. Forward P/E is 19x, the cheapest multiple of the three, and the Street target is $361.94. The dividend was hiked 16% in Q4 2025 to $0.95 quarterly, with net card fee revenue growing double digits for 30 consecutive quarters.
Risk: Amex is macro-sensitive. A consumer slowdown, tariff escalation, or new interest-rate cap regulation could compress engagement margins, especially after the recent Platinum refresh.
The Takeaway The common thread across all three is that Berkshire eventually paid up for quality it could have owned cheaper. GOOGL is the freshest example of Abel acting decisively on a stock Buffett admittedly missed. AAPL is the franchise that proved the thesis. AXP is the multi-decade compounder that keeps validating the strategy. Investors studying Abel’s first moves should keep an eye on whether the GOOGL position grows again in the next 13F.
Key Takeaways Mastercard posted 16% revenue growth in Q1 2026; value-added services now contribute nearly 41% of revenues.American Express grew billed business 10% and added over 70% of new accounts through fee-based products.Mastercard's average analyst price target implies 28.7% upside versus 6.3% for American Express. The global payments industry continues to benefit from the ongoing migration from cash to electronic transactions, supported by rising card usage, expanding e-commerce activity and growing demand for digital payment solutions worldwide. As consumers and businesses increasingly embrace digital commerce, investors remain focused on companies that can sustain transaction growth while adapting to changing payment trends.
Mastercard Incorporated (MA - Free Report) and American Express Company (AXP - Free Report) are two of the most prominent names in the payments space, making them a natural comparison for investors seeking exposure to this long-term trend. While both benefit from higher payment volumes and global spending activity, their business models differ significantly. MA primarily operates a payment network, whereas AXP combines network services with card issuance and lending, resulting in distinct growth drivers, revenue mixes and risk profiles.
Let’s dive deep and closely compare the fundamentals of the two stocks to determine which stock offers greater upside right now.
The Case for MastercardMastercard, with a market cap of $435.6 billion, generates most of its revenues from payment processing and network services rather than lending activities. This network-centric model allows the company to benefit from rising payment volumes and cross-border transactions while maintaining relatively limited credit exposure. Growth is increasingly supported by value-added services, real-time payments and commercial payment solutions, which broaden revenue sources beyond traditional card spending.
In the first quarter of 2026, the company’s net revenues rose 16% year over year, along with 12% growth in payment network net revenues. It delivered 22.4% growth in value-added services and solutions revenues in the first quarter, supported by demand for cybersecurity, fraud prevention, analytics and customer engagement solutions, and now contributes to nearly 41% of the company’s net revenues. It beat earnings estimates in each of the past four quarters, with an average surprise of 5.5%.
Mastercard’s expanding network continues to create opportunities for additional revenue streams. Switched transactions now account for more than 70% of transaction volume, up from about 60% in 2020, generating richer data that supports the growth of higher-margin services and strengthens customer relationships.
The company is also positioning itself for emerging payment technologies through investments in agentic commerce and digital assets. Partnerships with OpenAI and other technology firms, the rollout of Verifiable Intent and the announced BVNK acquisition strengthen its ability to facilitate secure transactions across both traditional and digital payment ecosystems.
MA balances investments in innovation with shareholder returns through dividends and buybacks, supporting sustainable long-term growth despite regulatory and competitive pressures. In first-quarter 2026, it repurchased $4 billion of stock and bought an additional $1.7 billion through April 27, 2026, while paying $777 million in dividends for the quarter. The company maintains a solid capital position with $7.9 billion in cash, while short-term debt amounted to $1.7 billion as of March 31, 2026. Its return on capital of 62.16X is significantly higher than AXP’s 12.35X and the industry’s 28.17X.
The Case for American ExpressUnlike Mastercard, American Express, with a market cap of $232.4 billion, operates an integrated model that combines payment network services with card issuance and lending. It continues to benefit from strong spending activity among affluent consumers and younger cardholders. In the first quarter of 2026, billed business increased 10% year over year, while more than 70% of newly acquired accounts came from fee-based products. These trends support both spending growth and recurring fee revenues.
The company continues to strengthen its premium value proposition through travel, dining, entertainment and sports-focused offerings. Recent initiatives include a global NFL partnership, expanded airport lounge investments and the planned acquisition of TheFork from Tripadvisor, which would enhance American Express' dining ecosystem and deepen engagement with card members across Europe. Continued additions to its hotel portfolio further support customer loyalty and spending activity across its premium card base. In the first quarter of 2026, total revenues (net of interest expenses) increased 11% year over year, while total transactions rose 10%. The company beat earnings in three of the past four quarters and missed once, with an average surprise of 4%.
Commercial payments represent another key growth avenue. AXP outlined plans for eight new or enhanced commercial products and capabilities, including cash-back offerings and expense-management tools. These initiatives broaden the company's presence across small-business, middle-market and corporate customers.
Artificial intelligence is becoming an increasingly important part of the growth strategy. The launch of the ACE Developer Kit and Agent Purchase Protection extends AXP's presence into AI-powered commerce, while ongoing investments in technology aim to enhance security, customer experiences and operational efficiency across its closed-loop network.
As of March 31, 2026, the company had $53.8 billion in cash and cash equivalents against just $1.7 billion in short-term borrowings. AXP returned $2.3 billion to its shareholders in the first quarter of 2026 through dividends and buybacks. In March 2026, it raised its quarterly dividend by 16% to 95 cents per share. Its dividend yield of 1.1% is higher than MA’s 0.7%.
Price Performance ComparisonOver the past six months, shares of AXP have shed less value than those of MA. Meanwhile, the S&P 500 has increased 8.9% during this time.
How Do the Estimates Compare for MA & AXP?The Zacks Consensus Estimate favors MA at this stage. The consensus estimate for MA’s 2026 earnings indicates a 15.2% increase from a year ago. Meanwhile, the consensus estimate for revenues suggests 12.8% growth. On the other hand, the consensus estimate for AXP’s 2026 earnings indicates 14.4% growth from a year ago, while the same for revenues suggests a 9.7% rise.
Valuation: MA vs. AXPValuation-wise, Mastercard trades at a premium forward price-to-earnings multiple relative to AXP, reflecting its capital-light structure and lower risk profile. MA currently trades at a forward P/E of 23.46X, higher than AXP’s 18.15X. The valuation gap underscores the market’s preference for Mastercard’s stability and diversified growth drivers.
Image Source: Zacks Investment Research
Price TargetMA currently trades below its average analyst price target of $645.19, implying a 28.7% potential upside from current levels. AXP also trades below its average analyst price target of $362.35, implying a 6.3% potential upside from current levels.
ConclusionBoth Mastercard and American Express are well-positioned to benefit from the continued expansion of digital payments, supported by strong brands, global reach and healthy spending trends. AXP offers exposure to affluent consumers, growing fee-based products and an integrated payments-and-lending model, while MA benefits from its network-focused structure, broad acceptance footprint and expanding portfolio of value-added services.
Despite trading at a premium valuation, Mastercard’s asset-light business model, faster growth profile and expanding revenue streams suggest greater upside potential than American Express at current levels, even though both companies currently carry a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Express (AXP 0.21%) is a leader in financial services and payments. Its success has delivered market-beating returns for investors. Shares have produced a total return of 114% in the past five years (as of June 16).
The company recently made headlines with a deal aimed at bolstering its reach within the world of sports. American Express signed a new multiyear global payments partnership with the National Football League (NFL), set to start with the commencement of the 2026 season this fall.
With this move, it's clear what American Express's strategic priority continues to be.
Image source: The Motley Fool.
It's a touchdown American Express is no stranger when it comes to sports. The business says that it has a "portfolio that spans more than fifty premier sports leagues, teams, venues, and marquee events around the world."
Understanding its customer base's interests, American Express continues to lean in. "Nearly 80% of surveyed U.S. American Express Consumer Card Members say they are sports fans," the press release reads, based on a survey from January 2026.
The NFL deal unlocks new opportunities for card members. These American Express customers will have access to unique experiences, ticket releases, and other perks. There is a focus outside the U.S., too. American Express will offer presale tickets to the NFL's international games.
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The overarching goal is clear Arguably, the most critical factor supporting this company's success is its brand strength. American Express, which positions itself as a premium player in the industry, attracts an affluent customer base. These people find tremendous value in the benefits and rewards that are offered. Partnerships are a major contributing factor.
And American Express wants to provide more value to these card members. A partnership with one of the world's most popular sports leagues plays to that. This can support higher spending activity, further boosting the American Express brand in the process.
This tie-up with the NFL aims to attract new card members, a move that is critical to the company's growth. There were 153.9 million cards in force as of March 31, up 4% year over year.
The NFL partnership is the latest example of how American Express leverages its premium market position to score big deals that might not be available to its rivals. It's a stamp of approval for the company, as there were 18.7 million viewers per game last NFL season. And on average, the 32 NFL teams have a market value of $7.1 billion, up 25% annually.
All of this justifies the stock's current valuation, with American Express shares trading at a reasonable price-to-earnings ratio of 21.3.
American Express is an advertising partner of Motley Fool Money. Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Express. The Motley Fool has a disclosure policy.
If you are looking at American Express (AXP 0.21%) and comparing it to Visa (V 0.02%), you are essentially comparing the high end to the mass market. Both companies have appeal as businesses over the long haul, depending on your personal investment approach. However, one is likely to have more opportunities to grow than the other. Here's what you need to consider as you decide between American Express and Visa.
What does Visa do? Visa is a finance industry middleman. It charges a small, per-transaction fee to connect buyers and sellers. Other companies actually issue the credit cards and debit cards that carry the Visa logo. The issuer of the card assumes the financial risk associated with financing transactions, since a credit card is effectively a revolving line of credit.
Image source: Getty Images.
The small fees that Visa collects add up to big numbers. In the fiscal second quarter of 2026, Visa handled 66.1 billion transactions, up 9% from the previous year. That pushed revenues up 17%, with adjusted earnings jumping 20%.
What does American Express do? American Express also processes transactions, earning a small fee each time one of its cards is used. However, American Express uses a closed-loop model, so it is the issuer of its cards. That means it assumes the financial risk of the revolving credit facilities offered to American Express card customers. It seeks to control that risk by focusing on wealthier customers who are likely to be more resilient in the face of financial adversity.
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In the first quarter of 2026, American Express cardmember spending rose 10%, boosting the company's revenue by 11%. Adjusted earnings rose 15%. American Express is doing fairly well right now, but not as well as Visa. And the performance difference is important.
The high end versus the mass market With a focus on wealthier customers, American Express has a smaller customer base to serve. Visa, by contrast, can provide transaction services to consumers from the high end to the low end, noting that there are far more customers who are not wealthy than those who are. That partly helps explain the differing financial results.
However, there's another key factor to consider. Both companies are benefiting from the ongoing transition from cash to card payments. By focusing on the high end, American Express is likely already serving most of its potential market. But if there's a recession, customer spending at the high end is likely to remain resilient, even if long-term growth is likely to be limited by the size of the customer pool it targets. That probably gives American Express a leg up on banks that issues Visa branded cards.
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Visa, on the other hand, is likely to see its customer base and transaction volume continue to expand as more and more consumers shift toward card payments. The growth of online shopping almost guarantees that consumers will need a credit or debit card. And since the banks issuing the cards bear the financial risk, Visa can grow its volume with little downside. To be fair, a recession might lead to lower transaction volume, but that would likely be just a temporary hit as volume growth continues to expand over the long term.
What kind of business are you looking to own? American Express is both a financial institution and a transaction processor. It might be a good fit for investors who don't want to own a bank, but still want some exposure to the financial industry. And the focus on the high-end of the market provides the business with material resilience. But you still need to be willing to take on the risk that American Express customers will fail to pay their bills.
Visa lets you sidestep that risk by focusing only on earning processing fees. And its willingness to serve any customer, from the high end to the low end, opens up a larger long-term growth opportunity. There is some risk of volume declines during economic downturns, but it's limited because Visa isn't making short-term consumer loans.
Visa's price-to-earnings ratio of 28x is above American Express' 20x, so American Express is the "cheaper" stock on an absolute level. But Visa's P/E is below its own five-year average, while American Express' P/E is above its longer-term average. For investors with a growth focus, Visa, which looks like it is on sale relative to its own history, is likely the more attractive option.
Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.
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Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?
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Earnings estimates are expectations of growth and profitability, and are determined by brokerage analysts. Together with company management, these analysts examine every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.
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It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding Focus List stocks, there's a great chance you'll be getting into companies whose future earnings estimates will be raised, which can lead to price momentum.
Focus List Spotlight: American Express (AXP - Free Report) Founded in 1850, NY-based American Express Company is a diversified financial services company, offering charge and credit payment card products, and travel-related services worldwide. AmEx earns revenue through both transaction fees and interest income, supported by a closed-loop payment network. Unlike open-loop peers (e.g., Visa or Mastercard), its integrated system allows AmEx to engage directly with both merchants and cardholders. This setup enables deeper customer insights, targeted marketing and strong customer loyalty.
AXP, a #3 (Hold) stock, was added to the Focus List on December 23, 2021 at $162.47 per share. Since then, shares have increased 108.04% to $338.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.11 to $17.64. AXP boasts an average earnings surprise of 4%.
Moreover, analysts are expecting AXP's earnings to grow 14.7% for the current fiscal year.
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NEW YORK--(BUSINESS WIRE)--American Express Company (NYSE: AXP) plans to host a live audio webcast of its earnings conference call at 8:30 a.m. (ET) on Friday, July 24, 2026, to discuss the company’s second-quarter 2026 financial results.
The webcast will be accessible to the general public through the American Express Investor Relations website at https://ir.americanexpress.com/. The financial results and presentation materials are scheduled to be released and posted on the website at approximately 7:00 a.m. (ET) prior to the conference call, and a webcast replay will be available on the website following the call.
ABOUT AMERICAN EXPRESS
American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.
Founded in 1850 and headquartered in New York, American Express’ brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world’s best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.
For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.
Pfizer (PFE +1.31%), a large-cap biopharmaceutical company focused on medicines, vaccines, and specialty therapeutics, closed at $25.21, down 2.74%. This morning's CFO transition announcement and succession review kept investors focused on 2026 guidance and leadership continuity.
The company’s trading volume reached 67.9M shares, which is roughly 85% above its three-month average of 36.6M shares.
How the markets moved todayThe S&P 500 (^GSPC +0.21%) rose 1.05% to 7,500.58, while the Nasdaq Composite (^IXIC +0.40%) gained 1.91% to 26,518. Among global biopharmaceuticals; research, development, manufacturing, and commercialization of prescription medicines and vaccines, Merck (MRK +1.40%) fell 1.36% to $113.87, and Bristol-Myers Squibb (BMY +1.75%) dropped 2.32% to $54.00.
What this means for investorsPfizer shares declined after the company announced that CFO Dave Denton will depart in August, raising concerns about leadership continuity and the execution of 2026 guidance. Cecile Guegan will serve as interim CFO during the search for a permanent successor. This transition is significant as Pfizer continues to address patent expirations and ongoing cost-control initiatives.
Recent approvals of Hympavzi and VEPPANU strengthen Pfizer’s long-term pipeline. However, the immediate challenge is maintaining confidence in the 2026 revenue and adjusted EPS targets during the CFO transition. Investors will look for management to provide stable financial guidance and demonstrate that new products, cost controls, and pipeline execution are contributing to earnings recovery.
Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bristol Myers Squibb, Merck, and Pfizer. The Motley Fool has a disclosure policy.
Key Takeaways Pfizer shares fell nearly 3% after CFO Dave Denton announced he will leave on Aug. 15.PFE reaffirmed 2026 guidance, expecting $59.5B-$62.5B in revenue and $2.80-$3.00 adjusted EPS.Pfizer named Cecile Guega interim CFO and said Denton will support the transition. Shares of Pfizer (PFE - Free Report) declined nearly 3% on Thursday after the company announced the departure of its chief financial officer (CFO), Dave Denton.
Denton will step down from his current role on Aug. 15 for “a professional opportunity outside of the pharmaceutical industry in consumer goods.” The company has initiated a comprehensive internal and external search for a permanent successor. Cecile Guega, currently senior vice president of finance for Pfizer’s global biopharmaceutical business, will serve as interim CFO beginning Aug.16. Guega will work alongside Denton during the transition period to ensure continuity across the company’s financial operations.
Denton’s resignation comes as a surprise, particularly as Pfizer continues to execute its post-pandemic transformation strategy. Since joining the company in May 2022, Denton has overseen several key initiatives, including cost realignment efforts, business development transactions (which include Seagen and Metsera deals) and capital allocation decisions aimed at stabilizing earnings following the sharp decline in COVID-related revenues.
Despite the leadership change, Pfizer reaffirmed its previously issued 2026 financial guidance, signaling that the transition is not expected to alter its near-term strategic priorities or operational outlook.
PFE Stock PerformanceYear to date, the company’s shares have gained over 1% compared with the industry’s 3% growth.
Image Source: Zacks Investment Research
Pfizer’s 2026 GuidanceThe company expects total revenues for 2026 to be between $59.5 billion and $62.5 billion. The range indicates a decline from 2025 revenues of $62.6 billion due to lower revenues from COVID products and loss of revenues from the upcoming patent cliff.
Pfizer expects adjusted EPS for the year in the range of $2.80-$3.00, which represents a decline from the 2025 EPS of $3.22 due to the dilutive impact of last year’s acquisition and licensing deals, lower COVID revenues and higher taxes.
Adjusted gross margin is expected to be in the mid-70% range, similar to the past several years. Adjusted R&D expenses are expected to be in the range of $10.5 billion to $11.5 billion in 2026, while adjusted SI&A spending is targeted between $12.5 billion and $13.5 billion.
The adjusted effective tax rate is expected to be approximately 15% in 2026.
PFE’s Zacks RanksPfizer currently carries a Zacks Rank #3 (Hold).
Key Picks Among Biotech StocksSome better-ranked stocks from the sector are Immunocore (IMCR - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents. Over the same period, estimates for 2027 EPS have risen from 24 cents to 87 cents. IMCR’s shares have lost nearly 18% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 46.66%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.33 to $4.05. Over the same period, EPS estimates for 2027 have risen from $3.66 to $4.27. INDV’s shares are up nearly 7% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.
Eli Lilly (LLY +1.80%) is basically hitting it out of the park right now. Sales of its industry-leading GLP-1 weight-loss drugs Mounjaro and Zepbound rose 125% and 80%, respectively, in the first quarter of 2026, driving a huge 56% sales gain for the drug giant. There's a reason why the stock is up more than 400% over the past five years.
There's just one small problem for dividend investors: Eli Lilly's dividend yield is a tiny 0.6%. That's well below the S&P 500 index's (^GSPC +0.21%) roughly 1% yield and the average drug stock's 1.6%. Eli Lilly competitor Pfizer (PFE +1.31%) has a 6.6% yield, which is more than 10x higher! Is it the better dividend stock?
Image source: Getty Images.
What's wrong with Pfizer? While Eli Lilly is hitting on all cylinders today, Pfizer is not. That's why the pharmaceutical giant's stock is down 30% over the past five years and nearly 60% from the high it reached in late 2021. There are a couple of problems worth noting.
First, Pfizer was one of the companies that quickly created a COVID vaccine during the coronavirus pandemic. Sales of COVID vaccines haven't lived up to expectations now that the world has basically learned to live with the illness. In addition, Pfizer has a number of highly profitable drugs set to lose patent protection over the next couple of years. Oncology drug Ibrance will lose patent protection in 2027, with cardiovascular drugs Eliquis and Vyndaqel getting hit the following year.
As if that wasn't enough, Pfizer got a high-profile black eye in 2025 when it was forced to stop research on the GLP-1 drug it was developing. So not only is the company facing headwinds, but it is falling behind in the GLP-1 weight-loss niche that has Wall Street excited about Eli Lilly.
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There's nothing unusual going on with Pfizer While the list of negatives about Pfizer today is long, the truth is it isn't really facing any unusual problems. These are just the normal dynamics of the drug sector. Sure, Pfizer is dealing with a lot of problems all at once, but the over 100-year-old company has successfully navigated headwinds before. It is highly likely to do the same this time around, as well.
Notably, it didn't just give up on GLP-1 drugs. It quickly reset, buying a company with a more attractive drug candidate. And it has other drugs in the pipeline, focused on things like migraines and oncology, among other indications. In 2026 alone, it has 20 major studies evaluating new drug candidates.
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Research and development success doesn't always align neatly with patent expirations. Given enough time, Pfizer is likely to get back on the growth track again. In the meantime, long-term, income-focused investors can collect that fat 6.6% yield. The only problem is that the payout ratio is over 100%, which is a worrying sign.
On that front, the company is openly stating that supporting the dividend is a key goal, which it can achieve by tapping other sources of cash, such as the debt market or its own bank accounts. It isn't unusual for companies to do that when they are facing temporary headwinds.
Pfizer isn't for the risk-averse, but it shouldn't be ignored At the end of the day, Pfizer comes with risks. However, they aren't unusual risks. While a risk-averse income investor may decide to take a pass, those willing to accept a little near-term uncertainty should probably take a closer look. Buying a hot stock like Eli Lilly isn't going to get you much dividend income. Taking on a little risk with Pfizer could reward you with a huge income stream and the potential for capital gains when it works through the normal industry headwinds it currently faces.
Passive income is the closest thing investors have to financial gravity. It pulls in money whether you are at your desk, on a beach, or asleep, and it lands in your account no matter what the broader market did that week. Earned income depends on showing up. Dividend income depends on a board of directors keeping a promise it has often kept for decades.
Healthcare megacaps have quietly become the bedrock of that promise. Two of the most widely held names in the sector, Pfizer (NYSE:PFE | PFE Price Prediction) and Johnson & Johnson (NYSE:JNJ), write checks four times a year to shareholders regardless of what biotech sentiment, election cycles, or Treasury yields are doing. Compared with rental property or private credit, a 500-share position can be liquidated in seconds and rebalanced without a closing attorney.
We screened our 24/7 Wall St. dividend equity research database, looking for stocks that pay massive dividends, and we found a collection of companies that, combined, can generate over $3,500 a year in passive annual income if you invest just 500 shares in each stock at the time of this writing.
Johnson & Johnson Yield: 2.35% Shares for $114,195: 500 Annual Passive Income: $2,680 Johnson & Johnson is a diversified healthcare giant operating two reporting segments: Innovative Medicine and MedTech. The pharma side delivered $15.426 billion in Q1 2026 revenue, up 11.2% year over year, fueled by DARZALEX, TREMFYA, and CARVYKTI. The MedTech business added $8.636 billion, up 7.7%, with electrophysiology and Abiomed driving cardiovascular growth.
The dividend is built on reliability rather than headline yield. JNJ just declared its 64th consecutive annual dividend increase, raising the quarterly payout 3.1% to $1.34, payable June 9, 2026. That Dividend King status is structural: a AAA-rated balance sheet, 21.8% profit margins, and $19.7 billion in free cash flow last year back every quarterly check.
Institutional ownership sits at 76.85%, anchored by Vanguard, BlackRock, and State Street. Management raised full-year 2026 guidance to adjusted EPS of $11.45 to $11.65 on $100.3 billion to $101.3 billion in sales, and the planned DePuy Synthes orthopaedics spin-off should sharpen the remaining pharma-and-devices engine.
Pfizer Yield: 6.80% Shares for $12,605: 500 Annual Passive Income: $860 Pfizer is a global biopharma operating across Primary Care, Specialty Care, and Oncology. The post-COVID hangover has been brutal at the top line, with Comirnaty down 59% and Paxlovid down 62% in Q1 2026, but the core franchise is doing the work. Eliquis grew 13% to $2.166 billion, Vyndaqel rose 8% to $1.602 billion, and Padcev jumped 39%, helping Q1 revenue reach $14.451 billion, a 5.4% YoY beat.
The yield is elevated because the stock has compressed. PFE has compressed to roughly $25.21, leaving the $1.72 annualized payout at a 6.8% yield backed by a 6.3% free cash flow yield. Management has prioritized the dividend over buybacks, explicitly stating no share repurchases are anticipated in 2026 despite $3.3 billion of remaining authorization.
Institutions own 69.38% of the float, with Vanguard and BlackRock again the largest holders. The Vyndamax patent settlement extending U.S. exclusivity to June 2031, the $7 billion Metsera obesity acquisition, and roughly 20 pivotal trial starts planned this year give CEO Albert Bourla room to defend the payout through the patent cliff.
Combined, these 2 positions generate $3,540 in annual passive income on a $126,800 investment, a blended yield of 2.79%. Johnson & Johnson contributes $2,680, and Pfizer adds $860 to round out the portfolio.
Ticker Annual Income Share of Total JNJ $2,680 75.7% PFE $860 24.3% Total $3,540 100% The quiet power of a portfolio like this is optionality. Every reinvested dividend buys more shares at a lower cost basis when sentiment sours, and every cash payout can be redirected to the next opportunity when valuations stretch. That mix of compounding and flexibility is what makes dividend equities a different animal from any bond, rental unit, or fixed annuity competing for the same dollars.
Pfizer (PFE +1.31%) is deeply unloved, down more than 50% from its late 2021 high. The stock decline has driven the dividend yield up to a very high 6.8%, well above the pharmaceutical stock average of 1.6%. The company is facing headwinds, which are clearly worrying investors. But if you think in decades and not days, buying this out-of-favor drug maker could help create generational wealth. Here's what you need to know
Pfizer: Nothing special to see here The big headline with Pfizer is that it will have to deal with revenue declines from drugs facing patent expirations over the next few years. That's normal, since new drugs are given a time-limited period during which they can be sold without facing generic competition. Once the patents expire, however, generic versions usually enter the market, and revenues from branded drugs decline sharply.
Image source: Getty Images.
This is why drug companies like Pfizer are always looking for new drug candidates, whether through internal R&D or acquisitions. The problem is that patent expirations happen on a set schedule, but drug development does not. Pfizer doesn't currently have anything new to replace the drugs it has that are losing patent protection.
Pfizer has a long history of success The fact that investors are worried about Pfizer's situation isn't unreasonable. However, Pfizer is an over 100-year-old company and is highly respected in the healthcare sector. It has worked through difficult periods before. And the outlook isn't all bad. For example, after an internal GLP-1 weight-loss drug didn't pan out, the company quickly bought a company with a more attractive GLP-1 candidate. It also has several key drug trials scheduled for 2026.
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The company is doing what it is supposed to do; it's just that the new drugs aren't expected to arrive in time to offset the hit from patent expirations. That's likely to put some stress on the dividend, noting that the payout ratio is already over 100%. Still, management seems willing to support the dividend over the near term as it works through this difficult stretch. Even if the dividend were cut, however, it would likely still be high relative to the average drug stock. And given the stock's decline, a dividend cut may already be priced in.
Turnarounds are long-term plays All in, Pfizer is a turnaround story navigating typical industry headwinds. Given its long and successful history as a company, it is highly likely that it will muddle through this period and return to the growth path. And even if the dividend is cut, which management says isn't currently in the cards, the yield will likely still be sizable. If you think in decades and not days, buying Pfizer could set you up for a generous income stream and capital appreciation. And it is the type of industry-leading company that you'll be happy to pass on to your heirs.
Acquisitions can be a double-edged sword for companies, as they can quickly bolster revenue and growth opportunities but also add costs and inefficiencies. Healthcare giant Pfizer (PFE +1.31%) has been involved in numerous acquisitions in recent years as it has worked to strengthen its prospects; a major risk for the stock has been uncertainty about where its growth will come from, particularly as it faces patent cliffs on key drugs.
One of the largest deals Pfizer made was the $43 billion acquisition of oncology company Seagen in 2023. It was a major acquisition that gave it some promising cancer-fighting medicines. But Pfizer isn't expecting to make significant deals like this in the near future. Here's how it plans to adjust its strategy and what that could mean for investors.
Image source: Getty Images.
Pfizer looks to take a break from acquisitions When a company is aggressively pursuing acquisitions, it can make it difficult to avoid rising costs, as it may incur acquisition-related expenses and become bloated with additional workers and overhead.
On Pfizer's most recent earnings call, CEO Albert Bourla was asked if there would be any more significant acquisitions in the near future. Bourla indicated that nothing's on the horizon and that the healthcare company will instead focus on enhancing its different businesses with artificial intelligence (AI).
"We think that right now, in the next two years, it is the time to execute on AI transformation of these organizations. That requires not the disruption of a mega merger."
Bourla sees tremendous potential with AI to develop new medicines more quickly. Not only could this accelerate the company's long-term growth, but it may also yield greater cost savings and efficiency, leading to stronger financial results.
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Does this news make Pfizer's stock a better buy? Slowing down its acquisition strategy could be an advantageous move for Pfizer, particularly as it works to use AI to improve its processes. If these AI transformations result in stronger earnings and long-term growth prospects, it's what the stock may need to get out of its funk; shares of Pizer are down 35% in the past five years, as even a low valuation hasn't been enough of a reason to entice investors to buy the stock.
The good news, however, is that the company appears to be moving in the right direction, growing its business and looking for ways to enhance its operations with the help of AI. At less than nine times its estimated future earnings (based on analyst expectations), the stock is deeply discounted and offers investors an excellent margin of safety. Plus, it offers a tremendously high dividend yield of around 6.8%. There may be some uncertainty ahead, but overall, Pfizer may be one of the better bargains in the market right now.
Pfizer stock is taking a breather. What’s ahead for PFE stock? What To Watch: Pfizer CFO Transition ImpactPfizer is leaning on continuity here: Guegan has spent more than 20 years at the company and led the financial integration of Seagen in 2024. That helps explain why the market reaction is muted rather than disorderly, even as the stock trades in a fragile technical posture.
Pfizer also has to navigate shifting demand narratives in obesity care, where GLP-1 users are consuming up to 21% fewer calories, an adoption curve that’s increasingly shaping how investors think about pharma winners and losers. The industry push beyond weekly injections toward oral formulations raises the competitive bar for large cap drugmakers as the market prices durability of the category’s growth.
Pfizer Stock: Key Levels To WatchFrom a trend perspective, Pfizer is still stuck under key moving averages, which keeps rallies looking more like rebounds than breakouts. The stock is trading 3.1% below its 20-day SMA ($25.80), 4.6% below its 50-day SMA ($26.20), 6.2% below its 100-day SMA ($26.66), and 3.4% below its 200-day SMA ($25.88).
Momentum looks more "range-bound" than trending, with RSI at 48.91—close to neutral—suggesting neither buyers nor sellers have a clear edge right now. RSI is a quick way to gauge whether a move is getting stretched; near-midrange readings often mean price respects nearby support/resistance more cleanly.
The moving-average structure is mixed: the 20-day SMA is below the 50-day SMA (a bearish short-term crossover), but the 50-day SMA remains above the 200-day SMA after the golden cross in October 2025. In that kind of setup, traders often watch for a higher low (the recent swing low was in May) followed by a reclaim of the 50-day/200-day area to confirm the longer-term trend is reasserting itself.
Key Resistance: $27.50 — a round-number area above the main moving-average cluster where rebounds can stall Key Support: $25.00 — a psychological level near the lower edge of the recent range as price tests the area How Pfizer Compares To Healthcare PeersPfizer is underperforming its Healthcare peer group today, down 0.32% versus a 0.13% gain for the sector—about 0.44 percentage points of relative lag. That matters because Healthcare is currently ranked No. 3 out of 11 sectors (a top-performing group), so the weakness reads as more stock-specific than sector-driven.
Merck’s Capvaxive label expansion provides a benchmark for Pfizer because pneumococcal vaccines are a key competitive arena for big pharma immunization franchises. The move mirrors Merck’s push into ages 2-17 with chronic conditions, where Capvaxive coverage is tied to about 79% of invasive pneumococcal disease cases in at-risk children under 18, keeping pressure on Pfizer’s vaccine moat narrative.
What Is Pfizer’s Business Model?Pfizer is one of the world’s largest pharmaceutical firms, with annual sales of roughly $60 billion, and it now leans heavily on prescription drugs and vaccines. Key products include the pneumococcal vaccine Prevnar 13 and cardiology drugs Vyndaqel and Eliquis.
It also sells globally, with international markets making up about 40% of total sales, and emerging markets are a meaningful part of that mix. In that context, a CFO transition can matter to longer-term holders because it touches capital allocation, deal integration (Guegan led the financial integration of Seagen in 2024), and how management frames the path for the portfolio.
Pfizer Benzinga Edge: Strengths and WeaknessesBelow is the Benzinga Edge scorecard for Pfizer, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Pfizer’s Benzinga Edge signal reveals a generally weak profile, led by soft Momentum and Growth readings. For longer-term bulls, the setup improves if the stock can hold $25.00 and start reclaiming the 50-day/200-day area, which would better align the chart with the "fair value" valuation backdrop.
Pfizer Stock Price Movement TodayPFE Stock Price Activity: Pfizer shares were down 0.91% at $24.98 at the time of publication on Monday, according to Benzinga Pro data.
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NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today announced topline results from the Phase 3 SigVie-002 study (previously known as Be6A Lung-01) evaluating sigvotatug vedotin, an investigational, potential first-in-class integrin beta-6 (IB6) directed antibody-drug conjugate (ADC). The study enrolled adults with locally advanced, unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC) who had received one or more lines of prior therapy.
In the overall population, sigvotatug vedotin did not show a statistically significant improvement in the primary endpoint of overall survival (OS) compared to docetaxel. The safety profile of sigvotatug vedotin was manageable and consistent with prior studies. Encouragingly, in patients who received only one prior line of systemic therapy, which represents two-thirds of the study population, a stronger trend was observed for OS and progression-free survival (PFS) for sigvotatug vedotin over docetaxel. In the exploratory analysis, no clear IB6 expression-response relationship was observed. Detailed results from SigVie-002 will be submitted for presentation at a future medical congress.
“Patients with previously treated advanced NSCLC are a historically difficult-to-treat population, and there is clearly more work to be done to improve the outcomes for this population,” said Jeff Legos, Chief Oncology Officer, Pfizer. “Although the overall study results did not demonstrate superiority over docetaxel, it is encouraging that second-line patients treated with sigvotatug vedotin achieved strong efficacy outcomes compared to an established standard of care, alongside a manageable safety profile. This observed clinical benefit, along with our Phase 1 combination data in the first-line setting, reinforces our confidence in the potential of the sigvotatug vedotin program, including an ongoing Phase 3 trial in combination with pembrolizumab in first-line advanced NSCLC.”
“It is important not to underestimate the activity of docetaxel as a comparator in this setting. Patients enrolled in this trial were heavily pre-treated, with most having previously received both platinum-based chemotherapy and immunotherapy, yet docetaxel continues to provide meaningful clinical benefit. Although the study did not meet its overall survival endpoint, in second-line patients the data suggest a clinically meaningful survival benefit for sigvotatug vedotin over docetaxel, supporting continued scientific evaluation of sigvotatug vedotin in earlier lines in combination with immunotherapy,” said Solange Peters, M.D., PhD, Chair of Medical Oncology & Thoracic Cancers Clinic, Lausanne University Hospital, Switzerland. “The ability of sigvotatug vedotin to induce immunogenic cell death provides a strong rationale for combination approaches with immunotherapy, particularly in earlier treatment settings where immune competence is better preserved. In this context, the promising phase 1 efficacy signals observed in treatment-naïve patients with high PD-L1 expression warrant further evaluation and may represent a more effective clinical application of this strategy.”
In NSCLC, IB6 is expressed on approximately 90% of tumors. IB6 is associated with poor prognosis. Sigvotatug vedotin is a novel ADC designed for high target selectivity of IB6 and rapid internalization, which may help limit binding to other integrins more likely to be expressed in normal tissues and potentially reduce off-target toxicity.
Pfizer is evaluating sigvotatug vedotin in several ongoing studies across multiple stages and patient populations in NSCLC and other solid tumors, including:
An ongoing Phase 3 study evaluating sigvotatug vedotin + pembrolizumab in 1L NSCLC with PD-L1 tumor proportion score (TPS) ≥50%; and Exploration of sigvotatug vedotin in novel combinations, including with PF’4404, the novel bispecific antibody targeting PD-1 and VEGF, in early-stage lung cancers and other IB6-expressing tumors. Since the acquisition of Seagen, Pfizer has continued to advance a broad ADC portfolio spanning marketed medicines and pipeline programs. Pfizer is progressing multiple differentiated ADC candidates, including fetrastobart vedotin, a PD-L1–directed ADC currently in Phase 3 in NSCLC, additional IB6-targeted ADCs with alternate payloads, and early-stage candidates exploring novel targets and payloads, including topoisomerase I (Topo1) inhibitors and novel auristatin-based payloads. This breadth reinforces the strength of Pfizer’s Oncology pipeline, including the potential for novel combinations with its investigational PD-1xVEGF bispecific antibody (PF-08634404), supporting the company’s goal of delivering 8 potential Oncology breakthroughs by 2030.
About the SigVie-002 Trial
SigVie-002 (NCT06012435) is an ongoing, open-label randomized, Phase 3, global study evaluating sigvotatug vedotin compared with docetaxel in adult participants with previously treated locally advanced, unresectable or metastatic non-small cell lung cancer (NSCLC). Patients were randomized to receive sigvotatug vedotin administered intravenously on Days 1 and 15 of each 28-day cycle or docetaxel administered intravenously on Day 1 of each 21-day cycle.
The primary endpoint of this trial is overall survival (OS). The study enrolled 703 participants. Descriptive, secondary endpoints include progression-free survival (PFS), confirmed objective response rate (ORR) and duration of response (DOR) per RECIST v1.1 as assessed by blinded independent central review (BICR).
For more information, visit ClinicalTrials.gov and reference NCT06012435.
About Pfizer Oncology
At Pfizer Oncology, we are at the forefront of a new era in cancer care. Our industry-leading portfolio and extensive pipeline includes three core mechanisms of action to attack cancer from multiple angles, including small molecules, antibody-drug conjugates (ADCs), and multispecific antibodies, including other immune-oncology biologics. We are focused on delivering transformative therapies in some of the world’s most common cancers, including breast cancer, gastrointestinal cancer, genitourinary cancer, hematology-oncology, and thoracic cancers, which includes lung cancer. Driven by science, we are committed to accelerating breakthroughs to help people with cancer live better and longer lives.
About Pfizer: Breakthroughs That Change Patients’ Lives
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For over 175 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.pfizer.com. In addition, to learn more, please visit us on www.pfizer.com and follow us on X at @Pfizer and @Pfizer_News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.
Disclosure Notice
The information contained in this release is as of June 22, 2026. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information about Pfizer Oncology, sigvotatug vedotin, an investigational, potential first-in-class integrin beta-6 directed antibody-drug conjugate, other oncology pipeline candidates and Pfizer’s ADC portfolio, including their potential benefits, the development program for sigvotatug vedotin and Pfizer’s oncology pipeline portfolio, the SigVie-002 results for sigvotatug vedotin and Pfizer’s goal of delivering 8 or more potential Oncology blockbuster medicines by 2030, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, uncertainties regarding the commercial success of Pfizer’s oncology products; the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for our clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data, as well as uncertainties regarding the future of the sigvotatug vedotin program; risks associated with initial, preliminary or interim data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when applications for sigvotatug vedotin or any other product candidates or combinations may be filed in particular jurisdictions for any potential indications; whether and when any such applications for sigvotatug vedotin or any other product candidates or combinations may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the product’s benefits outweigh its known risks and determination of the product’s efficacy and, if approved, whether sigvotatug vedotin or any such other product candidates or combinations will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of sigvotatug vedotin or any other product candidates or combinations; risks and uncertainties related to issued or future executive orders or other new, or changes in, laws or regulations; uncertainties regarding the impact of COVID-19 on Pfizer’s business, operations and financial results; and competitive developments.
A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in its subsequent reports on Form 10-Q, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results”, as well as in its reports subsequent on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.
A Pfizer logo is shown at a research facility in the La Jolla neighborhood of San Diego, California, U.S., September 30, 2025. REUTERS/Mike Blake//File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesContinuing with ongoing trial that combines drug with KeytrudaPlans to explore using the drug with other experimental treatmentsShares fall 1%June 22 (Reuters) - Pfizer (PFE.N), opens new tab said on Monday that one of the key experimental drugs it picked up in its $43 billion 2023 acquisition of Seagen failed to improve survival when compared to chemotherapy in a late-stage trial of lung cancer patients who had already tried other treatments.
The drug, sigvotatug vedotin, did not show a statistically significant improvement in the study's primary endpoint of overall survival in adults with locally advanced, unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC) versus the chemotherapy docetaxel, Pfizer said. The company's shares fell more than 1 percent in after-hours trading.
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Pfizer said that it was still confident in the potential of the drug due to a stronger survival trend in the patients who had received only one prior course of treatment, as well as data from an early stage trial where the drug was used in combination with Merck's (MRK.N), opens new tab Keytruda.
"In patients who had received only one prior line of therapy here, we did see very favorable trends in both progression-free survival and overall survival, suggesting that the drug is active and the payload is getting directly to the cancer cells," Pfizer Chief Oncology Officer said in an interview.
The company already has an ongoing late-stage trial of the drug in combination with Keytruda as a first-line treatment. It also plans to explore using the drug with other experimental cancer treatments in its pipeline.
Sigvotatug vedotin targets a protein known as integrin beta‑6. In the trial, Pfizer said it found no clear relationship between tumors expressing the protein and patient response to the drug.
Pfizer bought Seagen and its portfolio of targeted cancer therapies called antibody-drug conjugates in hopes of offsetting the steep fall in sales of its COVID-19 portfolio and generic competition for some top-selling drugs.
The company is continuing to develop other ADCs, it said, including some that also target the same protein, IB6.
Pfizer shares have dropped more than 50% since early 2023 as the drugmaker has worked to develop new blockbuster drugs. It has said it expects to return to stronger growth in 2028.
Additional reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore and Stephen Coates
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Key Takeaways Pfizer's phase III SigVie-002 study missed a statistically significant OS benefit vs docetaxel overall.Second-line patients, about two-thirds enrolled, showed favorable OS and PFS trends vs docetaxel.Pfizer is advancing sigvotatug vedotin in NSCLC and other IB6-expressing solid tumor studies. Pfizer (PFE - Free Report) has announced top-line data from a late-stage study which evaluated its investigational antibody-drug conjugate (ADC), sigvotatug vedotin in previously treated patients with advanced, unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC).
Sigvotatug vedotin is a potential first-in-class ADC targeting integrin beta-6 (IB6), a protein expressed in about 90% of NSCLC tumors and associated with poor clinical outcomes, making it a compelling therapeutic target.
Year to date, Pfizer’s shares have risen 0.7% compared with the industry’s 1.3% growth.
Image Source: Zacks Investment Research
Key Highlights of PFE’s Phase III SigVie-002 Study for NSCLCThe late-stage SigVie-002 study demonstrated mixed data on the primary endpoint of overall survival (OS). Treatment with sigvotatug vedotin did not demonstrate a statistically significant improvement in OS compared with docetaxel in the overall study population. The safety profile remained consistent with findings from earlier clinical studies. However, patients who had received only one prior line of systemic therapy — representing roughly two-thirds of the enrolled population — showed a more favorable trend in both overall survival and progression-free survival (PFS) compared with docetaxel.
Docetaxel is an FDA-approved chemotherapy drug that has been commonly used as a standard-of-care treatment for many years for the treatment of several cancers, including NSCLC, breast cancer, prostate cancer, gastric cancer and head and neck cancers, particularly in patients whose cancer has progressed after prior therapies.
Despite missing the overall survival endpoint in the broader study population, sigvotatug vedotin demonstrated encouraging survival trends over docetaxel in second-line patients.
PFE’s Other Ongoing Studies on Sigvotatug VedotinBeyond the above-mentioned indication, Pfizer continues to advance the clinical development of sigvotatug vedotin through multiple ongoing studies across various stages of NSCLC and other IB6-expressing solid tumors. The key programs include a phase III study evaluating sigvotatug vedotin in combination with Merck’s (MRK - Free Report) Keytruda (pembrolizumab) as a first-line treatment for patients with advanced NSCLC whose tumors have a PD-L1 tumor proportion score of at least 50%. Pfizer is investigating sigvotatug vedotin in novel combination strategies, including with PF-08634404, its investigational bispecific antibody targeting both PD-1 and VEGF, with the aim of enhancing anti-tumor activity in early-stage lung cancer and other IB6-expressing solid tumors.
PFE’s Zacks Rank & Stocks to ConsiderPfizer currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share estimates for Indivior Pharmaceuticals remained unchanged at $4.05 for 2026 and $4.27 for 2027. INDV shares have risen 6.8% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 30 days, earnings per share estimates for Immunocore’s 2026 were unchanged at 6 cents for 2026 and 87 cents for 2027. IMCR shares have lost 15.4% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.
The Nasdaq Composite Index (IXIC) is down nearly 500 points midday amid the global chip selloff, with Micron Technology (MU) last seen down 11% ahead of tomorrow's earnings report. The S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) are modestly lower as well, though IBM (IBM) is keeping the latter's losses in check thanks to a fresh bull note.
On the economic front, the U.S. flash manufacturing purchasing managers' index (PMI) climbed to 54% in June, its strongest reading since May 2022 and a fifth-consecutive expansion.
Continue reading for more on today's market, including:
IBM stock is bucking the tech rout after analyst praise. Qualcomm stock slips amid acquisition buzz. Plus, two biopharma stocks in the spotlight; and SNDK plummets from records.
Pfizer Inc (NYSE:PFE) is one of the most popular stocks in the options pits today, as the shares eye their fourth-consecutive drop. So far, PFE has seen 173,000 calls and 192,000 puts exchanged, which is already five times the stock's average daily options volume. The August 23 put is the most popular, followed by the weekly 6/26 25.50-strike call. At last look, Pfizer stock was down 0.7% at $24.90, after mixed lung cancer drug trial results.
Moderna Inc (NASDAQ:MRNA) is on the rise today, up 6.6% to trade at $63.23, after the biopharmaceutical company's mRNA vaccine for influenza prevention was unanimously backed by U.S. Food & Drug Administration (FDA) advisers late last week. Resuming its climb back toward last week's 52-week high of $67.74, the equity is up 109% year to date.
SanDisk Corp (NASDAQ:SNDK) is falling sharply from record highs as memory chips sell off, sending the Korean market crashing. SNDK was last seen down 12.2% at $1,997.00, maintaining its impressive 739% return for 2026.
BILLERICA, Mass.--(BUSINESS WIRE)--Javelin Biotech today announced a landmark scientific publication, titled "Interconnected multi-microphysiological systems and PBPK modeling for predicting human pharmacokinetics”, in the "Breakthrough" special issue of Lab on a Chip. The study details a liver-centric multi-tissue chip (MTC) platform designed to capture the complex pharmacokinetic (PK) profiles of small-molecule drugs.
"The results of this collaboration represent a significant step in bridging the gap between laboratory models and clinical reality."
Share The research marks a significant demonstration of how combinatorial NAMs enable the translation of multi-MPS data into clinical exposure predictions. By integrating the liver MPS with kidney and skeletal muscle within a single, recirculating microfluidic environment, the platform allows for the simultaneous identification of hepatic metabolism, renal excretion, and volume of distribution.
“This work is a major achievement in the New Approach Methodologies (NAMs) space, proving that multi-MPS platforms can deliver accurate clinical predictions,” said Murat Cirit, Ph.D., Chief Executive Officer of Javelin Biotech. “Small molecules represent 50% of therapeutics in development today. On the first anniversary of the FDA Modernization Act 3.0, this study provides critical scientific evidence that the Javelin platform can deliver clinical predictions and accelerate development without the use of animal data.”
A core breakthrough of the study is the validation of these on-chip parameters through integration with Physiologically Based Pharmacokinetic (PBPK) models. The study demonstrated high correlation with human clinical data across all Extended Clearance Classification System (ECCS) classes, providing a scalable tool for researchers to refine predictions before entering human trials.
“Pfizer remains committed to the 3Rs and to exploring innovative ways to enhance the predictive accuracy of our preclinical research,” said R. Scott Obach, Ph.D., Senior Research Fellow at Pfizer. “The results of this collaboration represent a significant step in bridging the gap between laboratory models and clinical reality. By showing how on-chip data can be integrated into PBPK models, we are building a deeper understanding of human-specific pharmacokinetics—a critical step in our ongoing efforts to refine our research models and reduce reliance on animal studies over time.”
As the industry moves toward more efficient, data-driven methodologies, Javelin Biotech’s platform serves as a critical bridge between laboratory research and human clinical trials. This is a major achievement in the NAM space that multi-MPS platform can deliver accurate clinical predictions.
About Javelin Biotech
Born from MIT’s interdisciplinary ecosystem, Javelin is a leading biotechnology company providing cutting-edge organ-on-a-chip platforms that offer unparalleled fidelity and insight into human biology and disease states. Our technology generates high-quality, human-relevant data essential for robust AI/ML integration, accelerating the development of safer, more effective, and personalized therapeutics while reducing costs and the reliance on animal testing.
Everyone is still arguing about Novo Nordisk (NYSE:NVO | NVO Price Prediction), the Danish obesity juggernaut whose GLP-1 franchise turned Wegovy and Ozempic into household names and dragged the entire pharma sector into a multi-year hype cycle. But here’s what you should actually be watching.
The reality check has already started, and the numbers are uglier than the headlines suggest. Stripped of a $4.2B non-cash 340B provision reversal, Novo’s Q1 FY26 sales actually declined 4% at constant exchange rates. Ozempic fell 14% at CER in the US and Rybelsus dropped 27%. EPS of $6.63 missed the $6.96 estimate. Management then guided FY26 adjusted sales growth to negative 4% to negative 12% at CER and confirmed a roughly 50% Wegovy list price cut and a 35% Ozempic cut in January 2027. The next-generation hope, CagriSema, missed its REDEFINE 4 primary endpoint and had its co-formulation development terminated. Add ~9,000 positions cut, a securities class-action lawsuit, and rising net debt, and the picture is unmistakable. The stock has already dropped 38.97% over the past year, yet the trade is still crowded.
Now the better setup.
Pfizer (NYSE:PFE) trades at $25.21 with a P/E of 19 and a dividend yield near 6.8%. It is washed out, ignored, and quietly executing. Three reasons retirement-focused investors should pay attention.
1. The earnings beat streak is real. Q1 FY26 adjusted EPS came in at $0.75 against a $0.7217 consensus, on revenue of $14.451 billion that grew 5.4% year over year. That is the fifth consecutive EPS beat, with launched and acquired products growing 22% operationally. Padcev rose 39%, Nurtec ODT/Vydura 42%, and Eliquis 13%.
2. Pfizer is an obesity play too, at a fraction of the price. Through the Metsera acquisition, Pfizer is advancing PF-3944, an ultra-long-acting GLP-1 with positive Phase 2b data, plus ecnoglutide, which launched in China on April 27, 2026. CEO Albert Bourla called out “approximately 20 key pivotal trial starts” for 2026, with about ten from the obesity portfolio. Investors are paying for Novo’s collapsing GLP-1 economics. They are getting Pfizer’s optionality for free.
3. The dividend is durable, and insiders are buying. Pfizer paid $0.43 per quarter across 2025 and into 2026, with full-year 2025 dividends totaling $9.8 billion. The company reaffirmed FY26 adjusted EPS guidance of $2.80 to $3.00, which comfortably covers the payout. Meanwhile, CEO Bourla has executed 7 acquisitions in the past 3 months at prices ranging from $25.33 to $28.08, alongside coordinated board-level equity acquisitions. The Vyndamax patent settlement extends US exclusivity to June 2031, pushing the feared cliff out by years.
Bourla’s own framing on the Q1 call captured it: “We’re off to a strong start in 2026… I’m particularly encouraged by what we’re seeing in oncology and obesity, two areas where I believe Pfizer is positioned to lead.”
The crowd is still litigating Novo’s bottom while the price ladder keeps stepping lower. Pfizer is up 12.98% over the past year, pays you 6.8% to wait, and offers a real pipeline. Stop chasing the obesity headlines and put Pfizer on your research list this week.
Pfizer stock is showing downward bias. Where is PFE stock headed? What Are the Latest Phase 3 Results for Pfizer?Pfizer also flagged that an exploratory analysis failed to show a clear relationship between integrin beta-6 (IB6) expression levels and treatment response, keeping the "who benefits" question open. Detailed trial findings are expected at a future medical meeting, which can become the next sentiment checkpoint for the program.
Critical Price Levels to Watch for PFE StockAt $24.77, the stock is trading below every major moving average tracked here—about 3.8% under the 20-day SMA ($25.74), 5.3% under the 50-day SMA ($26.16), 7% under the 100-day SMA ($26.65), and 4.3% under the 200-day SMA ($25.88). That "below the stack" posture keeps rallies more likely to run into supply until price can reclaim at least the 20-day/200-day zone.
MACD is the cleaner momentum read right now: it’s below its signal line with a negative histogram, which typically means upside pressure is fading versus the prior upswing unless buyers can reassert control. Structurally, the longer-term backdrop is mixed—there’s still a golden cross from October 2025 (50-day SMA above the 200-day SMA), but the nearer-term crossover has turned bearish with the 20-day SMA below the 50-day SMA.
Key Resistance: $27.50 — a round-number area above the main moving-average cluster where rebounds can stall Key Support: $24.00 — a nearby round-number level just above the 52-week low zone ($23.11) where buyers may try to defend What Is Pfizer and How Does It Operate?Pfizer is one of the world’s largest pharmaceutical firms, with annual sales of roughly $60 billion. Today, prescription drugs and vaccines make up most of its business, and its scale means pipeline updates can matter even when they don’t immediately change near-term revenue.
Top sellers include the pneumococcal vaccine Prevnar 13 and cardiology drugs Vyndaqel and Eliquis, and the company sells globally with international markets representing about 40% of total sales. In that context, mixed oncology readouts like SigVie-002 tend to be judged on whether they expand the long runway—Pfizer is also evaluating sigvotatug vedotin in a Phase 3 combination study with pembrolizumab in first-line advanced NSCLC.
Pfizer Benzinga Edge Rankings: Strengths and WeaknessesBelow is the Benzinga Edge scorecard for Pfizer, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Pfizer’s Benzinga Edge signal reveals a weaker-tilted profile, led by soft Momentum and Growth scores. For longer-term bulls, the chart likely needs to reclaim key moving averages to improve the momentum backdrop, while bears will focus on whether $24.00 holds on any risk-off tape.
Pfizer Stock Price Movement in Premarket TradingPFE Stock Price Activity: Pfizer shares were up 0.32% at $24.80 during premarket trading on Wednesday, according to Benzinga Pro data.
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Vancouver, British Columbia--(Newsfile Corp. - June 17, 2026) - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the "Company" or "WELL"), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce that at its annual general and special meeting held June 16, 2026 (the "Meeting"), all of the nominees for election as directors of the Company referred to in its notice of meeting and information circular dated May 8, 2026 for the Meeting were elected.
A total of 90,692,992 common shares representing 35.50% of the outstanding common shares of the Company were voted by proxy at the Meeting. Voting results for the election of directors at the Meeting were as follows:
ResolutionVote TypeTotal Votes% VotedKenneth CawkellFor
Withheld86,423,506
2,024,93097.71%
2.29%John KimFor
Withheld86,416,298
2,032,13897.70%
2.30%Sybil E Jen LauFor
Withheld87,483,574
964,86298.91%
1.09%Thomas ListonFor
Withheld86,974,569
1,473,86798.33%
1.67%Tara McCarvilleFor
Withheld86,114,137
2,334,29997.36%
2.64%Hamed ShahbaziFor
Withheld86,526,111
1,922,32597.83%
2.17%In addition, shareholders approved all other matters considered at the Meeting, the results of which are reported in the Report of Voting Results as filed on SEDAR+ (www.sedarplus.ca) on June 16, 2026.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL Health Technologies Corp. (TSX: WELL) is Canada's largest outpatient healthcare company and a leading provider of technology-enabled healthcare solutions. WELL is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI, and every piece of health data is protected. WELL owns and operates approximately270 clinics in Canada, supporting more than 5 million annual patient visits. Through its subsidiary WELLSTAR, WELL provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT management services. WELL provides cybersecurity services through its CYBERWELL subsidiary. WELL is publicly-traded on the TSX under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more, please visit: www.well.company.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301840
Source: WELL Health Technologies Corp.
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, /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) today announced it will release second quarter 2026 financial results after the close of trading on the New York Stock Exchange on Monday, July 27, 2026. The Company will host a conference call and webcast on Tuesday, July 28, 2026, at 9:00 a.m. ET to discuss these results. The Company's earnings release will be available in the Investor Relations section of the Company's website.
Investors and other interested parties may access the conference call in the following ways:
At the Company's website: www.welltower.com. Via webcast: https://events.q4inc.com/attendee/434603250. A webcast replay will be available approximately two hours after the conclusion of the conference call and will be available for 90 days. Joining via webcast is recommended for those who will not be asking questions. By telephone: The participant toll-free dial-in number is (888) 340-5024. The international dial-in is (646) 960-0135. The conference ID number is 8230248. All phone participants are asked to dial in 15 minutes prior to the start of the call to ensure connectivity. A replay of the conference call will be available beginning at approximately 1:00 p.m. ET on July 28, 2026 and ending on August 4, 2026. The dial-in number for United States participants is (800) 770-2030. For international participants, the replay dial-in number is (609) 800-9909. The replay conference ID number is 8230248.
About Welltower
Welltower Inc. (NYSE: WELL), an S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom, and Canada. Our portfolio of 2,500+ seniors and wellness housing communities are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. We believe our real estate portfolio is unmatched, located in highly attractive micromarkets with stunning built environments. Yet, we are an unusual real estate organization as we view ourselves as an operating company in a real estate wrapper, driven by highly-aligned partnerships and an unconventional culture. Through our disciplined approach to capital allocation powered by our Data Science platform and superior operating results driven by the Welltower Business System - our end-to-end operating platform - we aspire to deliver long-term compounding of per share growth for our existing investors, our North Star. More information is available at www.welltower.com.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as "will", "expect" or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.
Emerging from Stealth, Tenet uses patent-pending Agent-side Simulation technology to predict and stop malicious AI agent behavior in real time before it reaches enterprise systems
WILMINGTON, Del.--(BUSINESS WIRE)--Tenet Security, a cybersecurity company focused on securing autonomous AI agents, today emerged from stealth with $6 million in seed funding led by The Westly Group, an early investor in SentinelOne, and MizMaa Ventures. The company is built around a patent-pending technology called Agent-side Simulation, which predicts and simulates an agent’s likely next actions before they execute against production systems. If a path appears risky, Tenet can intervene before damage occurs while providing a trace explaining why the action was blocked.
Founded by veteran offensive security researchers Barak Sternberg and Nevo Poran, Tenet was created to address a growing challenge facing enterprises: AI agents are increasingly being granted access to critical systems, data, and workflows, while existing security tools lack visibility into what those agents actually do once deployed. Traditional security tools can monitor users, endpoints, or prompts, but often lack visibility into how agents behave once they begin taking actions on their own.
As organizations move beyond chatbots and begin deploying autonomous agents capable of writing code, accessing databases, interacting with applications, and making decisions on their own, security teams are struggling to monitor and control these new machine identities in real time.
"AI agents may be the biggest productivity unlock enterprises have seen in decades, which is why organizations are moving so quickly to deploy them," said Barak Sternberg, co-founder and CEO of Tenet Security. "But we're also entering a world where autonomous agents are interacting with systems, data, and other agents in ways most security tools were never designed to understand. That creates an entirely new security layer that requires a fundamentally different approach to protection."
Before launching Tenet, Sternberg and Poran helped build Cisco's AI Defense and led some of the company's early work on threats targeting autonomous AI systems. Prior to Cisco, the pair founded Wild Pointer, a cybersecurity company that served Fortune 500 customers and scaled to a seven-figure annual revenue business. Both founders are speakers at major security conferences, including DEF CON and Black Hat.
As enterprises rushed to deploy AI agents, Sternberg and Poran became convinced that existing security tools were largely blind to what those agents actually do once they're put to work. The founders concluded that the industry's biggest AI security challenge would not be protecting models, but controlling what autonomous agents do after they are granted access to real systems, data, and workflows.
That conviction ultimately led them to leave and launch Tenet Security.
Tenet's goal is to help enterprises deploy autonomous agents at scale without introducing unmanaged security risk, giving security teams greater confidence to support AI adoption across the organization. Its platform is focused on securing AI agents at runtime and is designed to prevent threats, including unauthorized access, data exfiltration, agent manipulation, and what the company calls "Agentjacking,” where malicious instructions embedded in emails, logs, documents, databases, or other data sources can adversely change an agent's behavior with potentially catastrophic effects. Unlike traditional security tools that generate alerts after suspicious activity occurs, Tenet is designed to intervene before an agent's action is executed.
The company's launch follows research from Tenet Threat Labs demonstrating Agentjacking, a new class of attack that manipulates AI agents into executing attacker-controlled actions. In testing, the research team validated the technique across more than 100 enterprise environments and found thousands of organizations potentially exposed through publicly accessible attack paths. According to Tenet, the technique operated without triggering traditional security controls because the agents were acting within their authorized permissions.
Tenet says early deployments have already demonstrated the operational challenges organizations face as AI agent usage expands. One $1 billion ARR legal-sector enterprise increased its use of AI agents from two deployments to more than twenty over a six-month period while using Tenet's platform. According to the company, more than ten attempted attacks, including a critical XSS attack, were detected and blocked during that period. In another Fortune 1000 enterprise deployment, Tenet identified a runaway AI agent generating tens of thousands of dollars in unnecessary token consumption over a single weekend before it could be scaled more broadly.
“We're increasingly seeing AI agents become part of the attack path itself," said Nevo Poran, co-founder and CTO of Tenet Security. "Attackers can manipulate agents to access sensitive data, abuse privileges, or take actions on their behalf in ways traditional security tools were never designed to detect. The challenge isn't simply monitoring prompts or API traffic, but understanding and controlling agent behavior in real time. The only place left to catch these threats is at runtime, in the moment an agent decides to act,” Poran added.
The funding will support continued product development, expansion of Tenet Threat Labs, growth of the company's North American go-to-market operations, and broader coverage across emerging AI agent frameworks and enterprise environments.
Tenet enters the market as enterprise adoption of autonomous AI agents accelerates. According to the company, organizations have as many as 5x more AI agents running than security teams realize, creating visibility and governance challenges that traditional security controls were not designed to address.
The company is advised by David Schwed, former CISO of Robinhood; Rick Scott, former CISO of BNY; Israel Bryski, former CISO of MIO Partners; Tomer Schwartz, co-founder at Dazz; Lior Tal, former CEO of Coralogix; and other cybersecurity and enterprise technology leaders.
Tenet Security is headquartered in North America and works with enterprises deploying AI agents across development, operations, and business workflows.
About Tenet Security
Tenet Security is the security platform for the agentic layer. The company helps enterprises discover, assess, and protect autonomous AI agents operating across their environments. Founded by veteran offensive security researchers Barak Sternberg and Nevo Poran, Tenet enables organizations to deploy AI agents at scale by providing visibility, runtime protection, and threat prevention for agent-driven workflows.
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cisco Systems (CSCO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cisco Systems is one of 592 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cisco Systems is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CSCO's full-year earnings has moved 3.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CSCO has returned about 55.2% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 18.2%. This means that Cisco Systems is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, Arteris, Inc. (AIP - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 168.1%.
Over the past three months, Arteris, Inc.'s consensus EPS estimate for the current year has increased 20.6%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cisco Systems is a member of the Computer - Networking industry, which includes 7 individual companies and currently sits at #42 in the Zacks Industry Rank. Stocks in this group have gained about 55.1% so far this year, so CSCO is performing better this group in terms of year-to-date returns.
In contrast, Arteris, Inc. falls under the Internet - Software industry. Currently, this industry has 170 stocks and is ranked #86. Since the beginning of the year, the industry has moved -11.6%.
Cisco Systems and Arteris, Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
ASHEVILLE, NC, June 18, 2026 (GLOBE NEWSWIRE) -- ASHEVILLE, NC - June 18, 2026 - -
Rhino Networks, LLC, a Cisco Meraki preferred partner, today shared insights from its leadership regarding Cisco's ongoing convergence of traditional networking and cloud-managed Meraki platforms into a unified portfolio, highlighting significant implications for small and medium-sized businesses navigating network modernization decisions.
Todd Carriker CEO of the company, addressed how Cisco's evolving strategy represents a fundamental shift in enterprise networking that has been developing since Cisco acquired Meraki over a decade ago. The convergence now manifests in newer product lines, including WiFi 7 access points and Catalyst 9350 switches, where the same hardware supports both Meraki cloud dashboard management and traditional on-premises Cisco management tools.
"The unification of Cisco's networking portfolio represents a pivotal moment for organizations evaluating their infrastructure strategies," stated Todd Carriker, CEO of Rhino Networks. "For the first time, businesses can select hardware without being locked into a specific management paradigm, allowing them to adapt their network management approach as their needs evolve. This flexibility is particularly valuable for SMBs that may start with cloud management but later require on-premises capabilities as they scale."
The Todd Carriker profile in the networking industry reflects extensive experience helping organizations navigate complex technology transitions. His perspective comes as businesses face increasing pressure to modernize their networks while maintaining operational flexibility and cost efficiency.
Historically, organizations faced a binary choice between Meraki's cloud-managed simplicity and Cisco's traditional enterprise-grade control. This separation often complicated procurement decisions and limited future flexibility. The new unified approach eliminates these constraints, enabling organizations to change management models without replacing hardware investments.
Todd Carriker's company Rhino Networks has observed firsthand how this convergence impacts deployment decisions across various industry sectors. The company specializes in helping organizations implement Cisco Meraki solutions and has maintained a 95 percent customer retention rate through its focus on comprehensive support and strategic guidance.
"SMBs are particularly well-positioned to benefit from this unified approach because it removes the traditional barriers between entry-level and enterprise-grade networking," added Carriker. "Organizations can now start with simplified cloud management and transition to more complex configurations as their requirements mature, all while maintaining the same hardware foundation."
The timing of these developments aligns with broader industry trends toward flexible consumption models and hybrid management approaches. According to Cisco's projections, 45 percent of the company's market opportunity by 2025 will involve managed services delivery, representing a $113 billion total addressable market.
Rhino Networks continues to expand its capabilities to support customers through this transition. The company offers comprehensive services including networking device sales, systems management, Cisco Meraki licensing, and deployment services. As an authorized reseller, Rhino Networks pre-configures equipment in transit, ensuring devices arrive ready for immediate deployment. The company's engineering team provides expertise in cloud security, deployment services, and maintains a two-hour response guarantee during business hours for customer support needs.
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For more information about Rhino Networks, LLC, contact the company here:
