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, /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) ("Resideo") today announced that, in connection with the previously announced spin-off (the "Spin-Off") of its ADI Global Distribution business, ADI Escrow Issuer LLC (the "Escrow Issuer"), a wholly-owned subsidiary of ADI Global Distribution Inc. ("ADI"), has priced an offering of $400 million aggregate principal amount of senior notes due 2034 (the "Notes"). The Notes will be issued at par, bear interest at a rate of 7.125% per annum and mature on July 15, 2034. The Notes offering is expected to close on or about June 30, 2026, subject to customary closing conditions. In connection with the consummation of the Spin-Off, the Notes will be assumed by ADI Global Distribution Funding LLC (the "Issuer"), a wholly-owned subsidiary of ADI, and guaranteed by ADI and each of ADI's subsidiaries that also guarantees the Senior Secured Credit Facilities (as defined below).

In addition, in connection with the Spin-Off, which is expected to be completed within the previously announced range of mid-Q3'26 to mid-Q4'26, syndication has been completed with respect to a $600 million senior secured term B loan facility (the "Term Facility") and a $500 million senior secured revolving credit facility (the "Revolving Facility" and, together with the Term Facility, the "Senior Secured Credit Facilities") of ADI. Borrowings under the Senior Secured Credit Facilities are expected to be subject to customary conditions and a condition that the Spin-Off has occurred prior to or will occur on the same date as such borrowing.

ADI intends to use a portion of the gross proceeds of the Notes, together with borrowings under the Term Facility, to make a distribution to Resideo in connection with the Spin-Off and to pay fees, costs and expenses in connection with the Senior Secured Credit Facilities and the Notes offering. ADI intends to use the remaining proceeds, if any, for general corporate purposes. ADI expects the Revolving Facility to be undrawn upon completion of the Spin-Off.

The proceeds from the Notes offering will be held in escrow until satisfaction of certain conditions precedent, including that the Spin-Off will occur on the same date as the release and certain other escrow release conditions. If such conditions are not met by December 31, 2026, the Notes will be redeemed at 100% of the issue price, plus accrued interest.

Prior to escrow release, the Notes will be senior obligations of the Escrow Issuer, will not be guaranteed and will be secured by the funds held in escrow. From and after the escrow release, the Notes will be senior unsecured obligations of the Issuer and guaranteed on an unsecured senior basis by ADI and each of ADI's existing and future domestic subsidiaries that guarantees the new Senior Secured Credit Facilities, subject to customary exceptions.

The Notes and related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except in transactions exempt from, or not subject to, the registration requirements of the Securities Act. Accordingly, the Notes and related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of the Notes or related guarantees will be made only by means of a private offering memorandum.

About Resideo

Resideo is a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually.

About ADI

ADI is a global specialty distributor of professionally installed low-voltage products serving commercial and residential markets through an omnichannel go-to-market platform. Within North America, ADI is the market-leading distributor in the professionally installed security, fire/life safety and audio-visual product categories. We offer over 500,000 products from more than 1,000 suppliers across key specialty low-voltage categories with strong proximity to our customers with a large network of store locations.

Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, those regarding the anticipated separation of Resideo's Products & Solutions and ADI Global Distribution businesses into two independent publicly traded companies, the expected timing of the Notes offering and borrowing of the Senior Secured Credit Facilities and the related terms thereof and other future events or developments. Forward-looking statements are typically identified by such words as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "project," "should," "will," and similar expressions, although not all forward-looking statements contain these words. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Among the factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements are the possibility that the conditions to the Spin-Off may not be obtained or satisfied within the expected timeframe or at all; that the Spin-Off may not be completed on the anticipated terms or timing or may not occur at all; that the Spin-Off may not achieve the intended strategic, operational, or financial benefits for Resideo, ADI, their respective businesses, or shareholders; that Resideo or ADI may experience operational or other disruptions as a result of the separation, including those relating to information technology systems, business processes, internal controls, customer and vendor relationships, and workforce alignment. Each separated company's ability to succeed as an independent enterprise will depend on numerous factors, including the execution of their respective strategies and plans, access to capital markets, the competitive landscape, and general business and economic conditions. Other risks and uncertainties include, but are not limited to the risks described under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in Resideo's Annual Report on Form 10-K for the year ended December 31, 2025 and other periodic reports, as well as risks described under the heading "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in the Form 10 filed by ADI Global Distribution Inc. with the SEC.

All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of Resideo or ADI to differ materially from such forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements. Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release and we caution investors not to place undue reliance on any such forward-looking statements.

Contacts:

Investors:
Christopher T. Lee
Global Head of Strategic Finance
[email protected]

Media:
Garrett Terry
Corporate Communications Manager
[email protected]

or

Dan Moore, Tali Epstein
Collected Strategies
[email protected]

SOURCE Resideo Technologies, Inc.

Latest Experis Tech Talent Outlook reveals a shifting market; overall hiring plans soften by seven points quarter-over-quarter, but demand for AI literacy and communication skills anchors Q3 priorities.

, /PRNewswire/ -- As global tech hiring cools from a strong second quarter, employers remain focused on the skills that matter most: AI capabilities and the human expertise to deploy them effectively. More than 4,000 Tech & IT Services employers across 42 countries report a global Net Employment Outlook (NEO) of 35% for Q3 2026 (July–September), according to the latest Tech Talent Outlook from Experis, part of the ManpowerGroup family of brands.

While hiring plans remain positive, the result represents a seven-point cooling from the previous quarter and a one-point dip year-over-year, signaling a shift toward more deliberate, skills-focused team expansion. Fifty percent of employers plan to add staff in Q3, while 33% plan to maintain current levels. Globally, Puerto Rico (68%), Brazil (53%), and the United Kingdom (51%) post the strongest Outlooks. In the United States, the Q3 tech-sector NEO stands at 47%, above the global average and reflecting continued confidence in tech hiring among U.S. employers.

"The Q3 data reflects a tech labor market that is being deliberate, not retreating, with global hiring intentions virtually unchanged from a year ago," said Kye Mitchell, President of Experis U.S. "Talent has become the limiting factor in technology transformation. The organizations that will win in the AI era are not necessarily the ones investing the most in technology; they will be the ones that build, buy, and develop talent faster than their competitors. In the U.S. and globally, the biggest challenge is no longer the technology itself. It's helping people and processes evolve alongside it."

Key Global Findings

Hiring Picture: 50% of the more than 4,000 tech employers surveyed across 42 countries plan to add staff in Q3, while 15% anticipate a decrease and 33% expect to keep workforce levels steady, resulting in a seasonally adjusted NEO of 35%.Top Technical Skills in Demand: AI Modeling & App Development is the most sought-after technical capability (34%), followed by AI Literacy (30%) and Traditional IT & Data (29%).Top Human Skills in Demand: Communication, Collaboration & Teamwork ranks as the most critical human skill (41%), followed by Professionalism & Work Ethic (37%) and Adaptability & Willingness to Learn (34%).Responding to Scarcity: 95% of employers are deploying a mix of strategies to address ongoing shortages. The most common actions are upskilling and reskilling current employees (30%), offering greater work location flexibility (24%), and increasing wages (22%).Regional Highlights

Tech hiring expectations vary significantly across geographies, with some markets holding strong while others show continued caution.

The Americas

Puerto Rico leads all countries globally with a Q3 NEO of 68%, up 45 points year-over-year, followed by Brazil (53%) and the United States (47%).Panama (-1%) is the only Americas market to report a negative Outlook.Asia Pacific

Vietnam (50%) and India (47%) reflect robust demand for tech and IT talent, with Australia (33%) and China (39%) posting moderate but positive Outlooks.Hong Kong (-10%) reports the weakest Outlook in the region, reflecting ongoing economic caution.Europe and the Middle East

The United Kingdom leads the region at 51%, up four points year-over-year, followed by Israel (42%) and Czech Republic (40%), which posted a quarter-over-quarter gain of +27 points.Romania (-11%) and Slovakia (-10%) report the weakest Outlooks globally, reflecting continued economic caution across parts of Central and Eastern Europe.To view the full Q3 2026 Experis Tech Talent Outlook, including detailed global findings, visit www.experis.com/en/tech-talent-outlook.

The next report, covering Q4 2026 hiring expectations, will be released in September 2026.

ABOUT THE EXPERIS TECH TALENT OUTLOOK
This research is based on results from the ManpowerGroup Employment Outlook Survey — the longest running, most comprehensive, forward-looking employment survey of its kind, used globally as a key labor market indicator. ManpowerGroup interviewed 4,497 Tech & IT Services employers across 42 countries on hiring intentions for the third quarter of 2026.

SURVEY METHODOLOGY
Survey responses were collected from April 1–30, 2026. Size of organization and sector are standardized across all countries and territories to allow international comparisons.

ABOUT THE TALENT SHORTAGE SURVEY
ManpowerGroup's 2026 Talent Shortage Survey interviewed 39,063 employers across 41 countries to understand global hiring challenges and skills gaps. The fieldwork was completed in all markets between October 1 – 31, 2025.

ABOUT EXPERIS
Experis®, a global leader in technology services, provides the experience and expertise to shorten the distance between innovation and business impact in a digital world. Experis is guided by the principle that only human ingenuity can unlock the true potential of advanced technologies like AI. For clients, Experis offers the right mix of talent and technology to accelerate progress and deliver real-world results. For individuals, Experis has the insight, size, and scale to help tech professionals expand their skills, increase their value, and find the right opportunities. By matching talent to technology in transformative ways, Experis creates brighter futures for everyone. Experis is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Talent Solutions.

For more information, visit www.experis.com, or follow us on LinkedIn.

ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.

For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.

FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries, and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements, due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the U.S. Securities and Exchange Commission (SEC), including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, whose information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.

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SOURCE ManpowerGroup

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Latest State of Semiliquid Funds points to signs of a maturing market and highlights the importance of investor understanding as private market access expands.

CHICAGO--(BUSINESS WIRE)--Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today released “The State of Semiliquid Funds 2026,” highlighting a rapidly evolving market approaching $600 billion in assets that is entering a new phase as investor demand shifts and key risks become more apparent.

The report finds that semiliquid, or “evergreen,” fund assets have more than doubled since 2022, following several years of growth fueled by private credit. More recently, however, demand for credit strategies has cooled sharply, redemptions are rising, and capital is rotating into private equity and venture capital funds. At the same time, early signs of fee competition are emerging as asset managers respond to increased scrutiny around costs.

“The semiliquid market has scaled rapidly on the back of investor enthusiasm, but over the past year it has begun to collide with questions about how these structures actually behave in practice,” said Jason Kephart, senior principal at Morningstar. “To effectively use private markets, we believe the focus should be on fundamentals, with investors taking a holistic view of how fees, leverage, and liquidity shape outcomes. Our independent research helps improve transparency and bring those trade-offs into focus.”

Key Findings

Semiliquid fund assets approached $600 billion as of March 2026.
Venture capital and private equity emerged as key growth drivers, with investors seeking exposure to high-profile AI and technology companies. Venture capital funds recorded approximately $8 billion in net inflows over the 12 months ended March 2026, while private equity inflows reached $14.5 billion. Private credit—previously the main growth engine—is losing momentum.
Concerns over software exposure and credit quality have dampened investor appetite, contributing to a roughly $1 billion dip in net assets for the category during the first quarter of 2026. High fees remain a core challenge for outperformance.
The average expense ratio for semiliquid funds is around 3%, significantly higher than traditional funds, and often excludes the full impact of incentive fees. Investors should also be aware that many complex fee structures continue to favor managers. Liquidity pressure is coming into focus.
Demand for redemptions has been rising, exposing the gap between limited withdrawal windows and hard-to-sell private assets. Most funds allow quarterly withdrawals, capped at 5%, which for some funds may not hold up when many investors try to exit at once. New pricing models could reshape how investors access private markets.
Blackstone, who dominates market share by assets, recently introduced a structure that gives 401(k) plans a choice between an incentive fee or a flat fee that may lead to lower expenses over time—an early indication that fee competition may be emerging, particularly in retirement channels. Few semiliquid funds earn strong ratings.
Morningstar rated 19 semiliquid funds last year, but only four received a forward-looking Medalist Rating of Bronze or Silver, reflecting Morningstar’s view that few funds are likely to outperform peers and public market equivalents after fees. The trends in the report underscore the view that access to private markets is only valuable if investors understand the management of funds in their portfolio. Yet a significant knowledge gap remains, with just 16% of financial advisors saying they are “very familiar” with semiliquid fund structures1. Morningstar’s research and semiliquid fund ratings aim to promote greater transparency and a more consistent language for investors and advisors to compare fees, liquidity, leverage, and potential outcomes.

Read the full State of Semiliquid Funds 2026 report here.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $370 billion in AUMA as of March 31, 2026. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X @MorningstarInc.

Morningstar’s Manager Research Group

Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Morningstar Manager Research provides independent, fundamental analysis on managed investment strategies. Morningstar views are expressed in the form of Morningstar Medalist Ratings, which are derived through research of three key pillars—People, Process, and Parent. The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. A global research team issues detailed research reports on strategies that span vehicle, asset class, and geography.

Medalist Ratings are not statements of fact, nor are they credit or risk ratings, and should not be used as the sole basis for investment decisions. A Medalist Rating is not intended to be nor is a guarantee of future performance. This press release is for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities.

©2026 Morningstar, Inc. All rights reserved.

MORN-R

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Key Takeaways Ralph Lauren benefits from digital investments and its Drive Plan, supporting sales and engagement growth.Hasbro and Fox are gaining from gaming, streaming, sports and advertising momentum, lifting outlooks.H World Group and WMG project strong earnings growth, with estimates rising in recent months. The consumer discretionary sector has witnessed moderate growth in the past year, despite a strong rally in U.S. stock markets. The situation has aggravated as the sector is in the negative on a year-to-date basis. 

Structurally, the consumer discretionary sector is growth-oriented. The share prices of these companies grow over a long time period. Growth sectors are sensitive to the movement of market interest rates and are inversely related. 

Over the last two years, the Fed opted for easy monetary policies with a significant cut in the benchmark lending rate. However, market participants are uncertain about the trajectory of interest rates this year. Moreover, geopolitical conflicts and the breakout of war in the Middle East also affected growth stocks.

Despite these negatives, we have selected five consumer discretionary stocks with a favorable Zacks Rank for investment. These are: Ralph Lauren Corp. (RL - Free Report) , Hasbro Inc. (HAS - Free Report) , Fox Corp. (FOXA - Free Report) , H World Group Ltd. (HTHT - Free Report) and Warner Music Group Corp. (WMG - Free Report) . Each of our picks currently carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The chart below shows the price performance of our five picks in the past month.

Image Source: Zacks Investment Research

Ralph Lauren Corp.Zacks Rank #2 Ralph Lauren has benefited from the strategic execution of its “Next Great Chapter: Drive Plan” and robust financial performance. The plan focuses on brand elevation, consumer centricity and operational agility. 

RL’s digital transformation drives growth, with investments in personalization, mobile, omnichannel and fulfillment enhancing consumer engagement. Retail and wholesale remain the key pillars of RL, with flagship stores, premium distribution and partnerships boosting comparable store sales across North America, Europe and Asia in fourth-quarter fiscal 2026.

Ralph Lauren has an expected revenue and earnings growth rate of 6.7% and 10.5%, respectively, for the current year (ending March 2027). The Zacks Consensus Estimate for the current year’s earnings has improved 0.2% over the last seven days.

Hasbro Inc. Zacks Rank #1 Hasbro has benefited from solid growth in Wizards and Digital Gaming revenues. HAS benefits to a big extent by continued MAGIC: The Gathering momentum, backlist demand and distribution gains, while Consumer Products delivered point-of-sale growth and share gains despite tougher licensing comparisons. 

For 2026, HAS targets stronger fan engagement, new partnerships, and steady progress toward a more digital and IP-focused business. HAS’ cost transformation program continues to support margin resilience while the company invests in key brands.

Hasbro has an expected revenue and earnings growth rate of 5.9% and 8.5%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.8% over the last seven days.

Fox Corp.Zacks Rank #1 Fox offers a differentiated mix of live news and marquee sports that supports affiliate pricing leverage and steady advertising demand. FOXA’s Tubi is boosting engagement and revenues while maintaining an ad-led model that has run at breakeven or better, improving the risk profile of streaming exposure. 

FOX One broadens distribution to cord-cutters with early retention trends that appear additive rather than disruptive to the traditional bundle. Ongoing global soccer and the political cycle should add FOXA’s incremental audience and advertising opportunities across broadcast, cable and digital.

Fox has an expected revenue and earnings growth rate of 5% and 16.3%, respectively, for the current year (ending June 2027). The Zacks Consensus Estimate for the current year’s earnings has improved 2.3% over the last seven days.

H World Group Ltd.Zacks Rank #2 H World Group is involved in the hotel industry. HTHT’s business includes leased and owned, manachised and franchised models.

HTHT’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. 

H World Group has an expected revenue and earnings growth rate of 10.4% and 19.4%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 3.9% over the last 90 days.

Warner Music Group Corp.Zacks Rank #1 Warner Music Group is a music-based content company. WMG’s operating segment consists of Recorded Music and Music Publishing. The Recorded Music segment is involved in the discovery and development of recording artists. The Music Publishing segment owns and acquires rights. WMG operates principally in the United States, the United Kingdom and internationally.

Warner Music Group has an expected revenue and earnings growth rate of 7.6% and more than 100%, respectively, for the current year (ending September 2026). The Zacks Consensus Estimate for the current year’s earnings has improved 8.6% over the last 60 days.

ST. PAUL, MN, USA, June 16, 2026 (GLOBE NEWSWIRE) -- Last weekend, under the floodlights and patriotic pageantry of the White House South Lawn, UFC Freedom 250 transformed America’s most famous address into a modern coliseum. There was a rowdy Octagon beneath a towering canopy nicknamed The Claw, military flyovers, celebrity spectators, Ultimate Fighting Championship President and CEO Dana White on the balcony, U.S. President Donald J. Trump celebrating his eightieth birthday in the front row, and seven fights that turned the nation’s 250th-anniversary festivities into one of the most headline-grabbing combat-sports spectacles in memory.

The main event at “The People’s House” had everything prizefighting has always loved: an undefeated champion, an underdog with thunder in his hands, personal bad blood, national flags, genuine gladiators with catchy nicknames, eye-popping spectacle, high-stakes danger, and the powerful, inchoate pull of destiny.

To the modern eye, it felt unprecedented. To readers of The St. Paul Phantom: The Gibbons Brothers’ Fight for Glory, Volume I, this fall’s first of three installments in the critically-acclaimed, definitive historical biography of Irish-Americans, Mike and Tommy Gibbons, it felt like history wearing new gloves.

A hundred years ago, Mike “The St. Paul Phantom” Gibbons and his younger brother Tommy “The Happy Warrior” Gibbons stood at the center of America’s original fight-industrial complex, where boxing distilled the early twentieth century’s chaos into two corners, ropes, rules, and consequence. Mike and Tommy fought their way into history via smoky clubs, armories, ballparks, theaters, and the illustrious “temple of fistiana,” Madison Square Garden, promoted by enigmatic powerhouse Tex Rickard and his “million-dollar gates.” They understood the prize ring was one of the only places on earth where an immigrant son could aspire to—and sometimes claim—the fabled American Dream, even in an era when professional boxing remained outlawed, restricted, or morally suspect across much of the United States.

Mike "The St. Paul Phantom" Gibbons and his brother Tommy "The Happy Warrior" Gibbons. A century before UFC Freedom 250, the brothers stood at the center of America's original fight game.

In other words, the Gibbons brothers, legendary Hall-of-Famers, long-known as “the shining knights of the ring,” were also, in contemporary parlance, among the OGs—or “original gangstas”—of the sport.

The St. Paul Phantom resurrects the nearly forgotten world of turn-of-the-century America with the sweep of historical narrative nonfiction: the 1910 Halley’s Comet vow; the rough Frogtown boyhood; the death-haunted lessons of early prizefighting; Mike’s rise from St. Paul to Madison Square Garden; the shadow of Jack Johnson, Joe Gans, Sam Langford and the color line; the Great War years at Camp Dodge, where Mike and Tommy trained doughboys for trench warfare; the Spanish Flu; the denied military commissions; and the final, bruising question of what a fighter owes his family, his country, and his name.

“From the beginning of this nation’s history, combat sports are where America has staged its arguments about masculinity, class, race, immigration, celebrity, patriotism, money, honor, and violence. A century ago, just as now, we were electrified by the operatic drama, larger-than-life promotional machinery, and raw pursuit of legacy and fortune,” says St. Paul Phantom author Dr. Gerard Gibbons, grandson of Tommy Gibbons and great-nephew of Mike Gibbons. “The UFC cage is new, but the hunger and yearning—the fundamental quest and fight for glory—is old as time.”

Long before UFC champions entered the cage beneath the South Lawn lights, Call of the Wild author Jack London wrote that “fighting is no superficial thing, a fad of a moment or a generation… [It is] woven into the fibers of our being.” As evidence, “strenuous life” proponent, Gibbons brothers fan, and twenty-sixth President Theodore Roosevelt transformed his White House into a veritable shrine to physical combat, sparring frequently in the West Wing with soldiers, athletes, and fighting men of his era.

“President Roosevelt loved the ring because he believed that struggle built character,” says award-winning author and historian Gibbons. “He saw fighting, disciplined and rule-bound, as a moral education in courage, endurance, respect and humility. This speaks great truth about the men Mike and Tommy Gibbons were in their time, and of many contemporary boxers, trainers, and mixed martial artists too.”

Puck magazine, June 1, 1904: "Terrible Teddy" Waits for "The Unknown." President Theodore Roosevelt, a devoted boxing enthusiast, made his White House a shrine to the ring. (Library of Congress)

Fighting for family, faith, freedom, and fortune, Mike Gibbons, the “Phantom,” was a scientific conundrum who made violence look like geometry—slipping punches by inches, answering with clean precision, and making reporters reach for language usually reserved for magicians, chess masters, and ghosts. Tommy Gibbons, bigger, warmer, and more openly heroic, carried the same St. Paul schooling into the heavyweight ranks, where courage, durability, and decency became part of his public identity. Between them, the Gibbons brothers fought their way through a rogue’s gallery of brawlers, sluggers, champions, and immortals, including Harry Greb, Jack Dempsey, and Gene Tunney.

If the Freedom 250 Octagon was flashier and its fighter personalities more flamboyant, several of the combatants nevertheless echoed the Gibbons brothers’ century-old “sweet science” ringwork at the White House. Light-footed and deeply composed, heavyweight Ciryl Gane snapped and shuffled classic “Phantom” strategies into battle, resisting crude slugging in favor of remaining elusive, measured, surgical, and calculatedly dangerous in his upset of Alex Pereira. In his two-round dismantling of Aiemann Zahabi, neon-mopped bantamweight Sean O’Malley deployed several trademark “Phantom” moves, serving up a cool carousel of range, timing, long jabs, and controlled striking. And in a shocking upset, Justin Gaethje, horror-bloodied the face of Ilia Topuria, to claim the world lightweight title, demonstrating what the Gibbons brothers often said, “No one plays boxing!”

“The Octagon at the White House proved that the hunger for combat narrative is an indelible part of the American psyche,” says author Gibbons. “For fans captivated by the strategic chess match and raw human drama of the UFC, The St. Paul Phantom—and the two additional, forthcoming books in the Fight for Glory franchise—captures the genesis of that obsession, the crucial origin story of how a man with courage, discipline, and faith can change his stars.”

The St. Paul Phantom: The Gibbons Brothers’ Fight for Glory, Volume I publishes September 15, 2026, from Fight for Glory Press.

An American Epic for the Semiquincentennial
Arriving during America 250, the nation’s Semiquincentennial, The St. Paul Phantom draws on deep family archives, rare photographs, and letters untouched for decades. Early readers are comparing this historical biography to Seabiscuit, Cinderella Man, and The Boys in the Boat—stories where sports become the lens through which a nation sees itself.

Through the lens of the Gibbons brothers, readers encounter an era of illegal prizefighting, vaudeville celebrity, the 1918 influenza pandemic, and an unforgettable cast of characters including: Jack Johnson, Harry Greb, Joe Gans, F. Scott Fitzgerald, Nellie Bly, Theodore Roosevelt, and Tex Rickard.

The work has already garnered recognition from the International Boxing Research Organization (IBRO) and carries endorsements from Academy Award-nominated filmmakers Paul Tamasy (The Fighter) and Brian Frankish (Field of Dreams), Grammy-nominated musician and boxing historian Frank Stallone, as well as Kirkus Reviews, IndieReader, and Publisher’s Weekly / Booklife.

Availability & Community Pre-Order
The St. Paul Phantom: The Gibbons Brothers’ Fight for Glory, Volume I officially publishes September 15, 2026, in hardcover, paperback, ebook, and audiobook formats. To pre-order, please visit: www.Books2Read.com/TheStPaulPhantom. Ahead of the launch, boxing fans and history buffs can join Ringside America, the book’s exclusive online reader community at the Fight for Glory website. Members receive Inside the Archive access—featuring digitized images and letters from the family collection—along with preview chapters, audiobook samples, and a locked-in, members-only pre-order price.

About the Author
Dr. Gerard Gibbons is an award-winning filmmaker, historian and direct descendant of the Gibbons boxing family. His Fight for Glory trilogy restores the epic true story of his family's place in American sports, immigrant culture, and the pursuit of the American Dream, spanning the years 1884-1983.

About Fifth Story Press and Content Syndicate
Fifth Story Press is a boutique publisher and author services company. Content Syndicate provides media distribution and public relations across a network of more than 1,200 endpoints. The St. Paul Phantom campaign is produced for Fight for Glory, LLC.

Fox Corp's (NASDAQ:FOXA) $22 billion swoop on Roku is, on paper, a bet that owning the screen matters as much as owning the shows, yet the people whose money is at stake are not sold.

Fox shares fell as much as 18% on Monday and closed down around 15%, a brutal verdict on the largest acquisition in the Murdoch-controlled company's history.

Roku stock, the supposed prize, slipped nearly 2%. That split reaction is the heart of the burning question: Is this deal actually worth it?

The strategic logic is about advertising, not content.

Roku is the dominant connected television operating system in the United States, the layer that decides what 100 million-plus households see when they switch on the set, along with the first-party data on what they watch.

Bolt that onto Fox's Tubi free streaming service, its live sports and Fox News, and you get a single advertising machine spanning content, distribution and the home screen where viewers discover everything else.

Emarketer estimated the deal would more than double Fox's annual connected TV advertising revenue, the prize every major streamer is now chasing as subscription growth slows.

It is also a reunion of sorts, since Fox first invested in Roku back in 2013 before selling its roughly 5% stake to help fund the Tubi purchase.

The price is where the doubts begin.

Fox is paying $160 per share, split as $96 in cash and the rest in stock, valuing Roku at about $22 billion in enterprise terms and closer to $25 billion once debt is included.

To get there, it is borrowing $12 billion, loading the combined group with debt at a moment when traditional media balance sheets are already stretched.

The offer carried only an 11% premium to Roku's Friday close, which sounds modest, yet investors still judged it too rich for a business generating about $1.1 billion in quarterly revenue.

The Roku Channel commands roughly 3% of US streaming viewership, fifth behind YouTube, Netflix, Disney and Amazon, so Fox is buying the pipes rather than a runaway content.

History is the other worry.

Doug Creutz of T.D. Cowen reminded clients that marrying distribution to content has misfired badly before, from AOL (NYSE:AOL) Time Warner to AT&T's ownership of Time Warner, warning that the past has a habit of rhyming.

Fox counters with $400 million in promised cost savings and the argument that scale in advertising technology is now existential.

The deal also lands in the middle of a consolidation wave, days after the Justice Department cleared Paramount Skydance to buy Warner Bros Discovery, fuelling talk that a rival such as Comcast could yet gatecrash.

Founder Anthony Wood, who built Roku after leaving Netflix and once said he simply wanted to record Star Trek, will join the Fox board.

The transaction is expected to close in the first half of 2027, subject to shareholder and regulatory approval, leaving plenty of time for Fox to prove the sceptics wrong.

This Aug. 13, 2020 file photo shows a logo for Roku on a remote control in Portland, Ore. Credit: AP Photo/Jenny Kane, file Fox Corp. has agreed to buy the streaming pioneer Roku in a cash-and-stock deal valued at approximately $22 billion, including debt.

Roku will continue to be run as an open, partner-friendly platform, the companies said Monday, and there appears to be no immediate changes that customers will see. Fox and Roku said that the combined company will become the third-largest player in U.S. television by share of viewing.

Media reports had surfaced on Friday that Roku was looking at its strategic options, including a possible sale. Speculation was rampant as to which companies might be interested in an acquisition. Aside from Fox, names being tossed about as potential buyers included Netflix, Amazon, Comcast and Disney.

The deal will give Fox access to more than 100 million global households, along with the Roku channel and its first-party data. Fox oversees a massive sports, news and entertainment network, as well as Tubi, which it acquired in 2020.

A person walks past the Fox News Headquarters in New York on April 12, 2023. Credit: AP Photo/Yuki Iwamura, File Roku founder Anthony Wood had initially worked within Netflix in the early 2000s as that company attempted to make the seismic shift from renting DVDs, to streaming.

Roku was spun off by Netflix, however, and the company released its first set-top box in 2008.

Wood, who is Roku's chairman and CEO, said his motivation in pursuing the technology was his desire to record and play his favorite show, "Star Trek."

Fox Corp. CEO Lachlan Murdoch said in a statement that combining the businesses will bring together Fox's live news and sports content with a streaming platform with large viewership. It will also give Fox more exposure to advertising and streaming subscriptions.

"The combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers," Wood said in prepared remarks.

Mike Proulx, research director at Forrester, said in an emailed statement that advertising revenue is a critical component of the deal.

"The bigger play here is advertising revenue, something all the major streamers are now jockeying for," he said. "This deal accelerates Fox into that shift with built-in audience scale. With 2026 shaping up as a defining year of streaming consolidation, the market shift is that streaming is no longer just about quality content slates. It's about controlling the full stack. If this deal closes, Fox will control more of what viewers watch, how they discover it, and how it gets monetized."

Wood will have an ongoing role at the company and will join the Fox board of directors after the transaction closes.

Murdoch said during a conference call that the combined company will be better positioned for the next decade of video than either company would've been alone.

"We are confident this is the right transaction, at the right moment, for all the right reasons," he said.

Fox will pay $96 in cash and 0.9693 shares of its Class A common stock for each Roku Class A and Class B share outstanding. The transaction is valued at $160 per Roku share.

Existing Fox shareholders are expected to own approximately 73% of the combined company and Roku shareholders will own about 27%, once the deal closes.

The deal is expected to close in the first half of next year. It still needs approval from Fox and Roku shareholders and also regulatory approval.

Fox's shares tumbled 15% on Monday and Roku declined nearly 2%.

Who's behind this story?

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Fox (FOXA - Free Report) has been beaten down lately with too much selling pressure. While the stock has lost 16.9% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.

RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.

Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.

However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.

Why a Trend Reversal is Due for FOXAThe heavy selling of FOXA shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 27.72. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.

The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for FOXA has increased 0.8%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.

Moreover, FOXA currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Fox Corporation’s (FOXA) landmark agreement to acquire Roku Inc (ROKU) in a $22 billion deal is sending shockwaves through the entire streaming landscape on Tuesday morning.

In particular, Netflix NFLX shares are seeing downward pressure as the “high-stakes” acquisition directly threatens the premium subscriber heavyweight’s core growth drivers.

Versus its year-to-date high in mid-April, Netflix stock is down nearly 30% at the time of writing.

NFLX shares are being hit mostly because of the immediate threat the Fox-Roku transaction poses to the company’s burgeoning ad-supported tier.  

Over the past few years, Netflix Inc has leaned heavily into digital advertising to sustain its revenue growth.

However, the ROKU deal isn’t just about purchasing hardware for FOXA, it’s about taking control of a sophisticated Connected TV (CTV) operating system that commands first-party data from over 100 million global households.

Combined with Fox’s existing free ad-supported streaming television (FAST) service – Tubi – the newly merged entity instantly becomes the third-largest player in US television by viewing share.

This enables FOXA to offer advertisers an incredibly scaled, data-rich alternative.

Advertisers looking to deploy their budgets into streaming environments now have a consolidated giant that pairs live sports and news with huge algorithmic reach, diluting Netflix’s “premium” ad pricing leverage.

Adding to pressure on Netflix shares today is the realization that a vital strategic asset has officially been taken off the board.

Rumours had been swirling that tech and media giants like Amazon, Disney, and Netflix Inc itself were considering bidding for Roku to fortify their distribution infrastructure.

With FOXA securing the definitive agreement, NFLX loses the opportunity to integrate ROKU’s ubiquitous operating system into its own ecosystem.

Furthermore, even though Fox and Roku Inc have promised that the platform will remain an “open, partner-friendly platform,” Wall Street remains deeply skeptical.

ROKU serves as the primary gateway through which millions of users discover and access the Netflix app on smart TVs.

With Fox now acting as the ultimate gatekeeper of this real estate, investors fear that FOXA will naturally prioritize its own content, optimize its proprietary ad yields, and subtly squeeze out rival platforms.

Ultimately, the Fox-Roku marriage forces Wall Street to critically re-evaluate Netflix’s standalone valuation in an era of rapid consolidation.

For years, NFLX stock enjoyed a “premium” based on its pure-play streaming model and immense content library.

However, as the industry matures, the competitive battlefield is shifting away from who owns the best content library to who owns the full technology stack.

The transaction represents a massive 24x multiple of Roku’s estimated 2027 EBITDA, showcasing just how much premium legacy media is willing to place on distribution and ad infrastructure.

As Fox secures a massive footprint in over half of US broadband households, Netflix faces a newly fortified, diversified competitor backed by linear networks, sports rights, and gatekeeper hardware.

Today’s stock price dip reflects growing anxiety that Netflix may now have to spend significantly more on marketing and platform fees just to maintain its current market share.

The media industry has long been preparing for consolidation and mega deals. And yet Fox Corp.'s acquisition of Roku seems to have taken the market by surprise. 

On Monday, Fox said it would acquire Roku for $22 billion, bringing a streaming tech platform — in addition to a second free, ad-supported streaming service — into its portfolio of linear TV networks and Tubi. 

While analysts lauded the deal as a strategic pivot for the legacy media company, Fox shareholders received the news differently. Its stock traded down 16% on Monday, hitting a 52-week low. Shares fell another 4% on Tuesday. 

"We view this as a strategic fit. Fox marries its strong content with Roku's leading distribution platform and first party data that add scale and can enhance the value proposition with advertisers," Piper Sandler analyst Thomas Champion wrote in a note on Monday. 

Champion highlighted Fox's long list of sports rights and Roku's position as the leading streaming platform — offered on both dedicated devices and smart TVs — as "highly complementary." 

"The combined company will be the third largest player in the U.S. by share of viewing, spanning broadcast, cable, local and streaming," he said.

Some industry analysts and insiders — who didn't want to comment publicly on market reaction — attributed the sharp stock reaction to the new debt that Fox would be taking on as part of the deal. Still, the company's leverage will be relatively low after the deal's expected close in the first half of next year.

One industry insider noted that Fox is also likely to spend more when the NFL reopens media rights negotiations, which have already begun for CBS owner Paramount Skydance. 

Mike Proulx, Forrester's vice president and research director, told CNBC in an email that it was too early to take this as a negative market reaction and noted that big media deals "often get punished in the short term because they introduce uncertainty."

"In this case investors are likely questioning the near-term cost-benefit. But what the market is missing is the long-term strategic importance of this deal. It's a must for Fox," Proulx said. "It's far from just a content play. The long-term value is in owning the platform, the data, and the ad stack. That's what this deal gives Fox and helps the company to future proof."

'Strategic pivot'In a MoffettNathanson note on Monday, the analyst firm called the deal "an unexpected strategic pivot." LightShed Partners called it a "bold move." 

"Legacy media has long suffered from the innovator's dilemma, with most players allergic to risk," LightShed analysts said in a note. "Fox has repeatedly talked about using its financial strength to make acquisitions and was routinely criticized for being underlevered, but Roku is a far larger acquisition than any Fox investor expected." 

While Fox's peers have been in the thick of the streaming wars — working to hit profitability for fledgling services, fending off competition and exploring deals to bulk up their content portfolios — Fox has largely stayed on the sidelines. 

Earlier this year, Paramount, Comcast and Netflix were among the major media players chasing Warner Bros. Discovery's assets in a bid to bulk up and better compete. Paramount emerged the winner, with a pending transaction that's working its way through regulators. 

But the battle left many in the industry wondering what comes next for competitors. 

Fox executives have been vocal about looking at deal opportunities, but have said they wouldn't jump at every chance — particularly when it comes to adding the same assets it hived off not too long ago. 

In 2019, the company offloaded its entertainment assets to Disney in a blockbuster deal that left Fox with live sports and news TV networks. 

Fox is perhaps best known for its Fox News Channel, one of the highest-rated networks in the cable TV bundle. But that bundle continues to bleed customers, while live sports like NFL games and the FIFA World Cup drive viewership and advertising revenue for Fox.

And as more viewing — even for marquee live events and global sports — moves to streaming, Fox has remained largely on the sidelines. 

The company acquired Tubi in 2020 for less than $1 billion. Since then the free, ad-supported service has been its biggest streaming priority. Tubi touts the largest library of licensed content and has also been building out originals with content creators from social media platforms. 

Last year the company launched Fox One, a direct-to-consumer option that offers all of Fox's content, including sports and news. 

But even with Fox One and Tubi, Fox hasn't found itself in the same playing field as subscription-based streamers. And with growing competition for a still-burgeoning segment of digital advertising dollars, Fox has lagged its legacy media peers in establishing a streaming foothold.  

The Roku acquisition changes that.

On the platformIn addition to marrying itself to the top hardware maker in streaming, Fox's acquisition brings in another free, ad-supported streamer with The Roku Channel.

MoffettNathanson noted that the acquisition puts Fox in the "upper end of streaming viewership" with Tubi and Roku combined. The combined viewership share edges outs Disney's Disney+, Hulu and ESPN, per MoffettNathanson's estimates.

The firm's analysts added that the deal makes sense from a strategic perspective, giving each company "an immediate boost to reposition their future outlooks" — more scale for Fox and more content and ad capabilities for Roku.

MoffettNathanson added that the deal helps Fox "better compete for future premium sports rights."

The combination also gives Fox more leverage, according to LightShed Partners, when it comes to carriage negotiations.

Roku negotiates with media companies to make their apps available on its platform. It also has considerable control over how content and media players are surfaced on its home screen. In addition, other streamers — from Disney+ to HBO Max — share a portion of their ad revenue with Roku when it's viewed on the platform.

That gives Fox a much-needed stake in the streaming ecosystem — right at the platform level.

For Roku, the deal means a partnership with some of the highest-rated sports and news content in the industry, and a likely boost to engagement. It also puts together two advertising platforms at a time when media companies have leaned heavily into the area as a revenue driver.

Roku has recently returned to shareholder favor following a rocky period. It now breaks out revenue specifics that have reinforced its position in the market.

Roku shares hit a 52-week high on Friday after initial reports of a potential sale. Its stock was up about 50% for the year through last week, even prior to the deal reports.

But its trajectory is not ironclad, and some have questioned the timing of the deal given Roku's current positive momentum.

MoffettNathanson called out two specific weak points for Roku — one being industry consolidation, and the second being Walmart's 2024 acquisition of smart TV maker Vizio.

Walmart, the top seller of smart TVs like those powered by Roku, has been slower than some expected to expand its market share via Vizio, but that could change sooner than later and Roku would need similar scale on its side.

June 16, 2026 07:00 ET  | Source: Cipher Digital Inc.

Power Systems Veteran Joins Cipher from ERCOT, Where He Served as Director of Grid Coordination

Appointment Deepens Cipher’s Power and Grid Expertise as It Scales HPC Data Center Pipeline

NEW YORK, June 16, 2026 (GLOBE NEWSWIRE) -- Cipher Digital Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”), a leading developer, owner, and operator of industrial-scale data centers, today announces the appointment of Bill Blevins as Head of Grid Strategies.

In this role, Mr. Blevins will lead Cipher’s grid strategy, supporting the Company’s efforts to source and secure power, and advance its development pipeline in Texas and around the country. He will report to Will Iwaschuk, Cipher’s Co-President & CLO.

Mr. Blevins brings to Cipher more than 30 years of power systems experience spanning grid operations, reliability, and nuclear power. He joins Cipher from the Electric Reliability Council of Texas (“ERCOT”), where he served as Director of Grid Coordination. During his tenure at ERCOT, he previously held the roles of Manager of Operations Support and Manager of Operations Planning and was responsible for grid operations as ERCOT transitioned to its Nodal Market in 2011. Prior to ERCOT, Mr. Blevins served at the North American Electric Reliability Corporation (“NERC”) and Duke Energy. In 2024, the Blevins Solar Project, a campus with 270 megawatts of solar power and 180 megawatts / 360 megawatt-hours of battery storage, was named in his honor.

“Bill is one of the most respected grid operators in the entire country, and his deep understanding of ERCOT and large-scale power systems will be invaluable as we continue to develop and energize data centers at scale,” said Mr. Iwaschuk. “Securing and delivering power is the foundation of everything we do, and adding a leader of Bill’s caliber further strengthens our ability to execute across our pipeline.”

About Cipher

Cipher develops and operates industrial-scale data centers engineered for next-generation computing at the highest standards of innovation, precision, and excellence. The Company brings together deep expertise across power sourcing, construction, engineering, operations, real estate, and technology to deliver high-quality data centers purpose built for HPC workloads. By partnering with premier tenants, Cipher seeks to meet the growing demand for industrial-scale data center capacity and become a leading HPC development platform that is built for hyperscale. To learn more about Cipher, please visit https://www.cipherdigital.com/.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as statements about the Company’s beliefs and expectations regarding its planned business model and strategy, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Cipher’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”) on February 24, 2026 and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Website Disclosure

The Company maintains a dedicated investor website at https://investors.cipherdigital.com/ (“Investors’ Website”). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors’ Website. Cipher uses its Investors’ Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors’ Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the “Email Alerts” option under the Investor Resources section of Cipher’s Investors’ Website and submitting your email address.

Contacts:

Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Digital
[email protected]

Drew Armstrong
Head of Strategic Initiatives
[email protected]

Media Contact:
Ryan Dicovitsky
Dukas Linden Public Relations
[email protected]

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One stock to keep an eye on is Albertsons Companies (ACI - Free Report) . ACI is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 8.29. This compares to its industry's average Forward P/E of 18.19. ACI's Forward P/E has been as high as 10.44 and as low as 7.46, with a median of 8.91, all within the past year.

We also note that ACI holds a PEG ratio of 1.66. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ACI's industry has an average PEG of 2.69 right now. Over the last 12 months, ACI's PEG has been as high as 2.09 and as low as 0.93, with a median of 1.78.

Investors should also recognize that ACI has a P/B ratio of 3.11. 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. This stock's P/B looks solid versus its industry's average P/B of 5.33. ACI's P/B has been as high as 4.06 and as low as 3.11, with a median of 3.56, over the past year.

These are only a few of the key metrics included in Albertsons Companies's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, ACI looks like an impressive value stock at the moment.

Oppenheimer named Alphabet GOOG among its top stock picks while placing Meta Platforms META on its preferred sell list as part of its latest sector-by-sector recommendations.

The brokerage also identified Valero Energy VLO , Nucor NUE , Cboe Global Markets (CBOE), Digital Realty Trust (DLR) and Monolithic Power Systems (MPWR) among its favored names across various sectors. On the sell side, Oppenheimer highlighted Expand Energy EXE , Mosaic (MOS), CDW Corporation CDW , Brookfield Asset Management (BAM) and Alexandria Real Estate Equities (ARE).

Separately, Oppenheimer maintained a constructive view on equities, saying the market's advance since the March low has been driven primarily by beta and momentum factors. The firm added that momentum continues to outperform within high-beta stocks despite recent market volatility.

Oppenheimer also pointed to improving market breadth and noted that the S&P 500 held its 50-day moving average following a roughly 5% pullback, which it said may support the case for another leg higher.

LOS ANGELES, June 15, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Graphic Packaging Holding Company (“Graphic Packaging” or “the Company”) (NYSE: GPK) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 4, 2025 and February 2, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before July 6, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Graphic Packaging suffered from inventory management problems, increased costs and reduced demand. The Company downplayed the severity of these issues despite the fact they would have a material impact on its financial performance. The Company overstated the strength of its business model. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Graphic Packaging, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

LOS ANGELES, June 16, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Graphic Packaging Holding Company, (“Graphic Packaging” or the "Company") (NYSE: GPK) investors of a class action on behalf of investors that bought securities between February 4, 2025 and February 2, 2026, inclusive (the “Class Period”). Graphic Packaging investors have until July 6, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or join the case via https://portnoylaw.com/graphic-packaging-holding-company. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Graphic Packaging, together with its subsidiaries, designs, produces, and sells consumer packaging products. Its customers include businesses in the food, foodservice, beverage, household, and other consumer product industries in the Americas, Europe, and the Asia Pacific. The Company sells its products through sales offices, as well as through broker arrangements with third parties.

At all relevant times, Defendants touted the purported strength and stability of Graphic Packaging's business model and operations, as well as its purported ability to deliver on its cost and inventory reduction, free cash flow (FCF"), and profitability goals, notwithstanding ongoing and persistent market headwinds challenging the Company's and its customers' businesses.

Indeed, in February 2025, despite its President and Chief Executive Officer ("CEO"), Defendant Michael P. Doss ("Doss"), acknowledging "unusual volume challenges for the industry and our customers" over the past several years, Graphic Packaging forecasted full year ("FY") 2025 net sales, adjusted EBITDA, and adjusted earnings per share ("EPS") of $8.7 billion to $8.9 billion, $1.68 billion to $1.78 billion, and $2.53 to $2.78, respectively, excluding foreign exchange impacts. Defendant Doss attributed the Company's ability to weather the aforementioned headwinds to its overall business model and operations, asserting that Defendants would continue to "build on" the Company's "consisten[t]" and "profit[able]" and "strong and steady" results in 2025.

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Graphic Packaging was experiencing, inter alia, significant inventory management issues, as well as significantly reduced demand and volumes and increased costs; (ii) Defendants downplayed the true scope and severity of the foregoing issues, which were likely to, and did, have a material negative impact on the Company's business and financial results; (iii) Defendants likewise overstated the strength and sustainability of the Company's business model and operations, as well as its ability to weather ongoing macroeconomic headwinds; (iv) accordingly, the Company's previously issued FY 2025 financial guidance was unreliable and/or unrealistic; and (v) as a result, Defendants' public statements were materially false and misleading at all relevant times.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
[email protected]
310-692-8883
www.portnoylaw.com

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LOS ANGELES, June 16, 2026 (GLOBE NEWSWIRE) -- Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming July 6, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Graphic Packaging Holding Company (“Graphic Packaging” or the “Company”) (NYSE: GPK) securities between February 4, 2025 and February 2, 2026, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR GRAPHIC PACKAGING INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?
On May 1, 2025, Graphic Packaging released its first quarter 2025 financial results, reporting non-GAAP EPS of $0.51, missing consensus estimates by $0.07, and revenue of $2.12 billion, representing a 6.2% year-over-year decline, and missing consensus estimates by $10 million. Further, the Company significantly lowered its previously issued 2025 guidance due to “an expectation of a 2% volume decline and $80 million of input cost inflation at the midpoint”, as well as “higher macroeconomic and consumer spending uncertainty.”

On this news, Graphic Packaging’s stock price fell $3.94, or 15.6%, to close at $21.37 per share on May 1, 2025, thereby injuring investors.

Then, on December 8, 2025, Graphic Packaging disclosed that it planned to “accelerate certain inventory reduction plans into the fourth quarter that were originally planned for 2026”, and that “[p]roduction curtailment is expected to impact fourth quarter operating results by $15 million.” The Company also further lowered its 2025 guidance. The same day, the Company also announced that its President and CEO had “mutually agreed with [its] Board of Directors to step down from his role.”

On this news, Graphic Packaging’s stock price fell $1.35, or 8.7%, to close at $14.23 per share on December 9, 2025.

Then, on February 3, 2026, Graphic Packaging released its fourth quarter and full year 2025 financial results, missing consensus estimates due to lower volumes, increased costs, and inventory reduction.

On this news, Graphic Packaging’s stock price fell $2.36, or 16%, to close at $12.42 per share on February 3, 2026, thereby injuring investors further.

What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Graphic Packaging was experiencing, inter alia, significant inventory management issues, as well as significantly reduced demand and volumes and increased costs; (2) Defendants downplayed the true scope and severity of the foregoing issues, which were likely to, and did, have a material negative impact on the Company’s business and financial results; (3) Defendants likewise overstated the strength and sustainability of the Company’s business model and operations, as well as its ability to weather ongoing macroeconomic headwinds; (4) accordingly, the Company’s previously issued FY 2025 financial guidance was unreliable and/or unrealistic; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Graphic Packaging securities during the Class Period, you may move the Court no later than July 6, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email:  [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email:  [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Graphic Packaging Holding Company (NYSE: GPK) between February 4, 2025 and February 2, 2026, inclusive (the "Class Period"), of the important July 6, 2026 lead plaintiff deadline.

So what: If you purchased Graphic Packaging securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Graphic Packaging class action, go to https://rosenlegal.com/submit-form/?case_id=64523 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 6, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Graphic Packaging was experiencing, inter alia, significant inventory management issues, as well as significantly reduced demand and volumes and increased costs; (2) defendants downplayed the true scope and severity of the foregoing issues, which were likely to, and did, have a material negative impact on Graphic Packaging's business and financial results; (3) defendants likewise overstated the strength and sustainability of Graphic Packaging's business model and operations, as well as its ability to weather ongoing macroeconomic headwinds; (4) accordingly, Graphic Packaging's previously issued full year 2025 financial guidance was unreliable and/or unrealistic; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Graphic Packaging class action, go to https://rosenlegal.com/submit-form/?case_id=64523 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

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SOURCE THE ROSEN LAW FIRM, P. A.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Graphic Packaging To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Graphic Packaging between February 4, 2025 and February 2, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - June 16, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Graphic Packaging Holding Company ("Graphic Packaging" or the "Company") (NYSE: GPK) and reminds investors of the July 6, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Graphic Packaging was experiencing, inter alia, significant inventory management issues, as well as significantly reduced demand and volumes and increased costs; (2) Defendants downplayed the true scope and severity of the foregoing issues, which were likely to, and did, have a material negative impact on the Company's business and financial results; (3) Defendants likewise overstated the strength and sustainability of the Company's business model and operations, as well as its ability to weather ongoing macroeconomic headwinds; (4) accordingly, the Company's previously issued FY 2025 financial guidance was unreliable and/or unrealistic; and (5) as a result, Defendants' public statements were materially false and misleading at all relevant times.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Graphic Packaging's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Graphic Packaging class action, go to www.faruqilaw.com/GPK or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Frequently Asked Questions (FAQ) for Investors Regarding the Graphic Packaging Holding Company Securities Class Action Lawsuit:

What is the Graphic Packaging securities fraud lawsuit about?

The Graphic Packaging securities fraud lawsuit is a federal securities class action alleging that Graphic Packaging Holding Company (NYSE: GPK) and its executives made false and misleading statements to investors by concealing significant inventory management issues, reduced demand and volumes, and increased costs, while overstating the strength and sustainability of the Company's business model and issuing unreliable financial guidance. As the truth emerged through a series of disclosures - including a May 1, 2025 Q1 earnings miss and sweeping downward revision to FY 2025 guidance, a December 8, 2025 announcement of accelerated inventory reductions, further guidance cuts, and the CEO's departure, and a February 3, 2026 Q4 earnings miss accompanied by a projected meaningful decline in 2026 adjusted EBITDA and the launch of a comprehensive business review - GPK's stock price fell sharply across each disclosure, causing significant cumulative losses for investors.

Who may be eligible to participate in the Graphic Packaging class action lawsuit?

Investors who purchased or acquired Graphic Packaging Holding Company (GPK) stock between February 4, 2025 and February 2, 2026 - the Class Period - and suffered financial losses may be eligible to participate in the Graphic Packaging securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former Graphic Packaging employees, and others with relevant information about the Company's conduct are also encouraged to come forward.

What is a lead plaintiff, and how can I seek appointment in the Graphic Packaging lawsuit?

A lead plaintiff in the Graphic Packaging class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any Graphic Packaging investor who purchased GPK stock during the Class Period may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is July 6, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.

What should investors do if they purchased Graphic Packaging stock during the Class Period?

Investors who purchased Graphic Packaging Holding Company (GPK) stock between February 4, 2025 and February 2, 2026 and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the Graphic Packaging securities class action is July 6, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/GPK for more information.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301594

Source: Faruqi & Faruqi LLP

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LOS ANGELES, June 16, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Verra Mobility Corporation (“Verra” or “the Company”) (NASDAQ: VRRM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between February 24, 2026, and May 26, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before August 4, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Verra misled investors about its growth prospects. The Company downplayed the risk of major customers in the rental car industry replacing its services with in-house solutions. The Company concealed the fact that its relationship with Avis Budget Group, which represented 10% of its revenue, was at significant risk of falling apart. The Company finally revealed that Avis Budget Group terminated its relationship on May 26, 2026. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Verra, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

 The Schall Law Firm

New York, New York--(Newsfile Corp. - June 16, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of common stock of Verra Mobility Corporation (NASDAQ: VRRM) between February 24, 2026 and May 26, 2026, inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 4, 2026.

SO WHAT: If you purchased Verra Mobility common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Verra Mobility class action, go to https://rosenlegal.com/cases/verra-mobility-corporation-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 4, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Verra's relationship with Avis Budget Group ("Avis"), and in particular obtaining a contract extension with Avis. Further, the Company minimized concerns that major rent-a-cars could replace Verra with in-house solutions or outsourced alternatives. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Verra Mobility class action, go to https://rosenlegal.com/cases/verra-mobility-corporation-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301731

Source: The Rosen Law Firm PA

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NEW YORK, June 16, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Verra Mobility Corporation (“Verra” or the “Company”) (NASDAQ: VRRM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Verra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until August 4, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Verra securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.   

[Click here for information about joining the class action]  

On May 26, 2026, Verra disclosed receipt of a termination notice effective September 2026 from Avis Budget Group – historically, one of Verra’s largest customers – regarding the companies’ contract.  Verra also announced that it is taking immediate actions to cut costs, adapt operations, and reposition its business.  Verra also revised its 2026 outlook, despite confirming all 2026 guidance metrics just 20 days earlier. 

On this news, Verra’s stock price fell $9.23 per share, or 70.57%, to close at $3.85 per share on May 27, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. 

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Danielle Peyton 
Pomerantz LLP 
[email protected] 
646-581-9980 ext. 7980

-

Built with the support of Microsoft using Microsoft AI technologies, Qai™ advances Catalent's commitment to operational excellence by enhancing efficiency, accuracy and consistency

TAMPA, Fla.--(BUSINESS WIRE)--Catalent, Inc., the leading global contract development and manufacturing organization (CDMO) dedicated to helping people live better and healthier lives, today announced the launch of Qai, an enterprise AI tool designed to elevate the best quality management systems and processes across Catalent’s network.

“Innovative AI solutions like Qai™ strengthen the quality of our operations and better support the teams delivering critical therapies to patients around the world,” said Charlie Lickfold, Chief Technology Officer, Catalent.

Share Qai, an AI-enabled solution, strengthens quality management system processes—such as deviations and complaints—by harnessing Catalent’s enterprise data to accelerate analysis, root cause identification and corrective and preventive action development, while improving consistency and speed. Qai represents the first enterprise AI solution launched at Catalent, marking a significant step in its broader effort to implement advanced technologies to drive Patient First outcomes.

Key Highlights

Qai was built with the support of Microsoft using Microsoft AI technologies powered by Microsoft Azure, including Microsoft Foundry with supporting data and analytics capabilities from Microsoft Fabric. Qai strengthens quality management system processes—such as deviations and complaints—by harnessing Catalent’s enterprise data to accelerate analysis, root cause identification and corrective and preventive action development, while improving consistency and speed. The launch of Qai underscores Catalent’s continued investment in digital transformation and innovation. “The launch of Qai represents an important milestone in how Catalent is applying advanced technologies, including AI, across our operations to improve consistency, accelerate insight and enable better decision-making,” said Charlie Lickfold, Chief Technology Officer, Catalent. “Innovative AI solutions like Qai strengthen the quality of our operations and better support the teams delivering critical therapies to patients around the world.”

Qai integrates intelligent, AI-driven insights directly into existing quality workflows, enabling faster and more consistent decision-making. The platform was built with the support of Microsoft using Microsoft AI technologies powered by Azure, including Foundry, with supporting data and analytics capabilities from Fabric. Qai improves root cause analysis to reduce repeat deviations, accelerates high-quality reporting, and minimizes documentation delays, supporting compliance while helping teams focus on delivering greater value to customers and the patients they serve. Qai exemplifies how Catalent is responsibly leveraging AI to empower its global teams, reduce complexity and drive measurable operational impact.

“Qai reflects what we see as an important application of AI in life sciences: enhancing already robust data analytics and governance to deliver meaningful patient impact,” said Todd Mersch, General Manager, U.S. Life Sciences and MedTech, Microsoft. “By strengthening oversight and consistency across manufacturing processes, Qai supports Catalent’s commitment to delivering for customers and the patients they serve, helping to transform lives.”

About AI at Catalent

As part of its AI journey, Catalent continuously seeks to promote the ethical and responsible use of AI. Catalent prioritizes transparency, accountability and fairness in all AI initiatives. Catalent’s governance framework supports the development and deployment of AI technologies with human oversight and judgment, aligning with company core values and ethical standards. The company continuously strives to mitigate risks and address ethical considerations, in line with its ambition to ensure AI solutions benefit all stakeholders, contribute positively to society and amplify Catalent’s mission and Patient First culture.

The launch of Qai underscores Catalent’s continued investment in digital transformation and innovation, advancing the capabilities needed to support the evolving demands of pharmaceutical and biotech customers and improve patient outcomes worldwide.

About Catalent

Catalent, Inc. is a leading global contract development and manufacturing organization (CDMO) championing the missions that help people live better and healthier lives. Every product that Catalent helps develop, manufacture and launch reflects its commitment to improve health outcomes around the world through its Patient First approach. Catalent provides unparalleled service to pharma, biotech and consumer health customers, delivering on their missions to transform lives. Catalent tailors end-to-end solutions to meet customers’ needs in all phases of development and manufacturing. With thousands of scientists and technicians and the latest technology platforms at nearly 40 global sites, Catalent supplies billions of doses of life-enhancing and life-saving treatments for patients annually. For more information, visit www.catalent.com.

More News From Catalent, Inc.

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Key Takeaways CRDO and AVGO are both AI connectivity plays, but differ sharply on scale, agility and strategy.CRDO's AEC business is gaining hyperscaler traction, with optical revenues projected above $600M.AVGO's AI semiconductor revenues hit $10.8B, driven by demand for XPUs and networking. The explosive AI infrastructure buildout has put the spotlight on semiconductor companies as the reshaping of the data center connectivity landscape is creating massive demand for high-speed interconnect and optical solutions.

Both Credo Technology Group Holding Ltd (CRDO - Free Report) and Broadcom (AVGO - Free Report) are beneficiaries of this cycle. While both companies operate in the same space, their positioning, scale and strategies differ significantly.

Broadcom is a diversified semiconductor and infrastructure software giant, while Credo specializes in high-speed connectivity solutions, including integrated circuits (ICs), retimers, optical DSPs, Active Electrical Cables (AECs), SerDes chiplets and SerDes IP licensing.

For investors, the choice between these two companies is not straightforward, as Broadcom offers scale and profitability while Credo brings agility and innovation. 
Let us break down the fundamentals, valuations, growth outlook and risks for each company to determine which stock stands out.

CRDO: Fast-Emerging PlayerCredo is one of the major beneficiaries of the exploding demand for AI infrastructure. As AI clusters scale into the hundreds of thousands of GPUs and push toward million-GPU configurations, reliability, signal integrity, latency and power efficiency, total cost of ownership has become mission-critical. Credo’s architecture (purpose-built SerDes technology, sound IC design and a system-level development approach) is tailored to meet these demands.  

CRDO’s AEC business sits at the core of its growth narrative, playing an increasingly critical role in AI-driven networking deployments. Credo’s hyperscaler traction is central to its AEC strength. Four hyperscalers each contributed more than 10% of total revenues in the fourth quarter of fiscal 2026, reflecting strong adoption of Credo’s high-reliability AEC solutions. Beyond the traditional hyperscalers, Credo is also seeing increasing demand from emerging Neocloud providers.

In addition to AEC, CRDO is now focusing on the IC portfolio (retimers and DSPs). The company expects mid-single-digit sequential growth in the first half of fiscal 2027, followed by a stronger second-half acceleration buoyed by its optical portfolio. Management projects more than $600 million in optical revenues, with ZeroFlap optics, silicon photonics PICs and optical DSPs each contributing more than $100 million. This is expected to support more than 80% year-over-year revenue growth for the full year. Fiscal 2026 revenues exceeded $1.3 billion and rose 206% year over year.

The acquisition of Dust Photonics strengthens Credo’s high-speed optical connectivity portfolio with silicon photonics PIC technology. The deal adds advanced technology, including 800G and 1.6T solutions, and would aid in developing upcoming 3.2T solutions.

Credo remains on track for PCIe Gen6 AEC solutions and is witnessing strengthening customer engagement and design activity. Retimer momentum is also improving across 100G and 200G per lane, alongside customer traction for PCIe Gen6 retimers. Blue Heron supports Ethernet, UALink and ESUN for emerging scale-out and scale-up networks. Management expects initial CPO and NPO revenues from DustPhotonics in fiscal 2028. It also expects production ramps for Active LED Cables and OmniConnect in fiscal 2028.

As revenue scales, Credo is beginning to show signs of operating leverage. Gross margins have been improving, and the company is moving closer to sustained profitability. For fiscal 2026, the company reported a non-GAAP gross margin of 68.1%, improving 310 basis points year over year, while operating margins expanded significantly to 47.8%. For fiscal 2027, gross margins are projected to stay in line with fiscal 2026 levels, while non-GAAP net margins are expected to remain around 50%, even as the company continues to invest in R&D.

Another positive is Credo’s balance sheet flexibility and disciplined capital strategy. The company emphasized that it has no immediate plans to raise additional capital or initiate share buybacks, instead focusing on maintaining flexibility for further M&A.

However, the path ahead is not without challenges. Macroeconomic uncertainties and exposure to the AI investment cycle amid increasing market competition are concerning. Customer concentration is high, with the top three customers representing 34%, 27% and 16% of revenues. Credo continues to expect that three to four customers will account for more than 10% of revenues in the upcoming quarters.

Further, fourth-quarter fiscal 2026 non-GAAP operating expenses were $81.7 million, above the guided range, and first-quarter fiscal 2027 non-GAAP operating expenses are forecasted to be $86-$90 million. Increasing expenses could pressure margins if revenue growth falters.

AVGO: Established GiantBroadcom is one of the giants in the semiconductor space, with deep integration across AI infrastructure. The company’s second-quarter fiscal 2026 revenues of $22.2 billion jumped 48% year over year, driven largely by AI semiconductors. AI semiconductor revenues reached $10.8 billion, surging 143% year over year, reflecting what management described as “insatiable” demand for XPUs and networking.

Broadcom expects AI semiconductor revenues to reach $56 billion in fiscal 2026 and exceed $100 billion in 2027. Long-term partnerships with major AI players, including Google, Meta, OpenAI and Anthropic bode well. 

For OpenAI, AVGO has a contractual commitment to deploy 1.3 gigawatts in 2027 as part of the wider 10-gigawatt agreement by 2029. AVGO announced an agreement with Meta in April under which it would deliver multiple generations of MTIA XPUs and deploy 3 gigawatts by 2028.

Further, networking remains a key pillar of Broadcom’s AI strategy. The company noted that networking accounted for nearly 40% of the AI revenues in the fiscal second quarter.

Broadcom expects revenues of approximately $29.4 billion, indicating 84% year-over-year growth for the current quarter. The company is well-placed to gain from the demand for high-speed Ethernet switching and co-packaged optics solutions. AVGO is deeply embedded in both scale-up and scale-out architectures.

Image Source: Zacks Investment Research

Beyond revenues, profitability is a key differentiator. Broadcom delivered operating margins of approximately 67% and adjusted EBITDA margins near 69%, supported by operating leverage. The company also generated $10.3 billion in free cash flow in the quarter, representing 46% of revenues, enabling significant shareholder returns through cash dividends ($3.1 billion paid in the fiscal second quarter).

However, management continues to expect that consolidated gross margins will continue to be influenced by the revenue mix between infrastructure software and semiconductors. Gross margin for the current quarter is expected to be down to roughly 74% compared with 77.1% reported in the previous quarter.

Increasing expenses, heavy leverage and hyperscaler dependence are additional concerns. As of May 3, 2026, cash and cash equivalents were $19.6 billion, against long term debt of $62.7 billion.

Price Performances & Valuations of CRDO & AVGOYear to date, CRDO is up 80.3%, while AVGO has surged 13.8%.

Image Source: Zacks Investment Research

In terms of the forward 12-month price/sales multiple, Credo is trading at 19.21X, higher than AVGO’s 13.09X.

Image Source: Zacks Investment Research

How Do the Consensus Estimates Compare for CRDO & AVGO?Analysts have significantly revised their earnings estimates upwards for CRDO for the current fiscal year in the past 60 days.

Image Source: Zacks Investment Research

Estimates have been revised 2.5% upwards for AVGO’s bottom line.

Image Source: Zacks Investment Research

CRDO or AVGO: Which Is a Better Pick

Truly great companies have an uncanny ability to evolve and expand, replicating what made them successful at one thing, and turning that into excellence at something else. Axon Enterprise (AXON 1.76%) made its name with TASER, a non-lethal electric weapon used by law enforcement to incapacitate suspects. Then it expanded into body cameras, dominating the U.S. market.

Now Axon is taking to the skies. The company has entered the law enforcement drone and robotics market, which it estimates is a $20 billion opportunity. It's a perfect fit into what has become a hardware ecosystem, tied together by Axon's cloud software offerings.

Here's why this new opportunity makes Axon stock a buy, especially while it is trading 49% below its August 2025 all-time high.

Image source: Getty Images.

The war in Iran is putting drones on the map at home The war in Iran showcased drones as a major player in modern warfare. In today's digital world, there are countless videos and articles about how drones are becoming a primary tool in battle. The war also illustrates how difficult drones can be to defend against, opening up security vulnerabilities that U.S. law enforcement could invest more in to address.

Axon has already spent years laying the foundation for its drone business. It partnered with Skydio in 2021 to sell its drones through Axon Air, the company's comprehensive drone hardware and software solution. Axon then acquired Dedrone in late 2024, a leader in smart airspace security and counter-drone systems. It's fantastic timing, positioning Axon to supply the technology to protect stadiums and other public spaces that may be susceptible to hostile drones.

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Drones are an obvious win for a company that already has exciting growth prospects Axon already works extensively with most public agencies throughout the United States. Having that existing relationship makes cross-selling much easier. For example, Axon has started offering artificial intelligence (AI) solutions. Revenue from AI grew by over 700% in the first quarter of 2026.

The key advantage here is that Axon sells both the hardware and the software that ties everything together. It's a complete ecosystem at this point, and drones are just as simple a tie-in, just as body cameras were after agencies were already using TASER. Axon's future bookings currently stand at $14.3 billion, near its all-time high from the prior quarter, and customers have a net revenue retention rate of 125%, meaning existing customers continue to spend more.

Wall Street analysts currently estimate the company will grow earnings by an average of 30% annually over the next three to five years. Axon's 4% decline has dropped the stock's valuation to about 54 times 2026 earnings estimates. That's still quite a lofty earnings multiple, but it's a price worth paying given the company's strong growth outlook.

The questions in our inbox have gotten louder lately. Are we reliving 1999?  Has the tech rally reached the dangerous ‘Euphoria’ bubble stage we first discussed in our 2026 Outlook? And is the recent surge in initial public offerings (IPOs)— led by SpaceX on Friday— diluting existing holders just as valuations were already drawing scrutiny?

We understand the concern. With the Iran war keeping energy prices elevated and interest rates stubbornly high, this is not a risk-free environment for growth assets…as the recent volatility in the Nasdaq demonstrates. But despite those potential headwinds, we remain overweight US technology in our portfolios. Here’s why.

This Isn’t 1999 — At Least Not Yet, According to Valuation

In the late 1990s, technology stocks were priced for perfection, on top of fundamentals that were anything but perfect. Today, the picture looks materially different to us on two key dimensions: valuation and earnings quality. Chart 1 below tells the story clearly: the MSCI USA Information Technology Index currently trades around 23x forward earnings, versus 40x at the peak of the dot-com bubble. This current valuation represents only a ~10% valuation premium to the S&P 500, despite much stronger revenue and earnings growth for tech. Critically, profit margins have moved in the opposite direction — over 26% today versus 13% in 1999. You’re paying a lot less in 2026 for better businesses.

Yes, tech valuations are sensitive to rising interest rates — higher rates compress the multiples warranted for long-duration growth assets, all else remaining equal. If the Iran conflict continues driving energy-related inflation and forces rates higher still, valuation headwinds are real. We’re watching this closely.  But last week’s softer-than-expected core CPI print — which suggests underlying inflation ex-energy may be better behaved than feared — provides some reassurance that the rate picture isn’t uniformly bleak. Given the soft unit labor costs discussed in last week’s Weekly View, we believe that the core inflation story is more moderate than feared.

Source: LSEG, IBES, MSCI, RiverFront; data weekly, as of 06.11.2026. Chart shown for illustrative purposes only. Past performance is no indication of future results.

The #1 ‘Tell’ for When to Leave the Party is Cash Flow— No Warning Signal Here Yet, In Our View If valuation is the warning light on the dashboard, free cash flow is the engine itself. In our view, the single most important early warning signal for when an equity bubble may burst is the divergence between reported earnings before interest and taxes (EBIT) and free cash flow — when reported profits race well ahead of actual cash generation, it’s a sign that hype is outrunning fundamentals.

Source: LSEG Datastream, RiverFront. Data monthly as of June 11, 2026. Chart shown for illustrative purposes only. Past performance is no indication of future results.

Look at the left panel of the cash flow chart (Chart 2, right). Towards the end of the 1995–2001 ‘Tech Mania’ phase, EBIT (blue line) continued to climb sharply while free cash flow (green line) lagged — the classic signature of deteriorating earnings quality. Now look at the right panel: today, free cash flow is running above EBIT across the US technology sector — approaching $1 trillion on an annualized basis, x times 2000’s tally — and continues to do so consistently. That is the opposite of a bubble signal. It tells us that tech’s reported earnings are being validated by actual cash coming in the door. Until that relationship inverts, we believe the fundamentals support staying invested in mega-cap, high cash flow tech shares.

On the IPO Supply Question: We Believe US Indices Can Handle It A word on the equity supply concern: we’re less worried than some. The US equity market is the deepest, most liquid stock market in the world; we expect it to be able to absorb supply shocks without structural damage. With $77 trillion in the broad Russell 3000 and $65T in the more widely followed S&P 500, SpaceX’s expected $75B issuance represents a small fraction of the market’s capitalization… especially when considering ~$8T of liquidity sitting in money markets. And while IPO issuance is heating up, from a historical perspective it is less extreme – roughly 100 expected IPOs this year compares to 250 in 2021 and 400 in 1999, according to Goldman Sachs. Furthermore, Goldman expects buybacks and M&A to more than offset new equity supply in the US this year.

The Nasdaq overlay chart below is instructive — if history rhymes, the current AI-era tech bull market (orange line) may still have significant runway ahead before reaching a 1999-style apex (blue line). But “significant runway” doesn’t mean “straight up.” Regular pullbacks — like the -5% drawdown day in the Nasdaq on June 5— are healthy. They bleed off excessive optimism before it becomes euphoria.  Instead of the price chart, watch the cash flow chart. The day free cash flow begins to meaningfully trail EBIT across the technology sector — the way it did in 1999 and 2000 — is the day to start considering underweight tech. That signal will matter more to us than any individual valuation multiple or macro headline. But for now, that signal is not flashing. The party continues — and we intend to stay for a while.

Source: LSEG Datastream, RiverFront. Data daily as of June 11, 2026. Chart shown for illustrative purposes only. Past performance is no indication of future results.

Risk Discussion: All investments in securities, including the strategies discussed above, include a risk of loss of principal (invested amount) and any profits that have not been realized. Markets fluctuate substantially over time, and have experienced increased volatility in recent years due to global and domestic economic events. Performance of any investment is not guaranteed. In a rising interest rate environment, the value of fixed-income securities generally declines. Diversification does not guarantee a profit or protect against a loss. Investments in international and emerging markets securities include exposure to risks such as currency fluctuations, foreign taxes and regulations, and the potential for illiquid markets and political instability. Please see the end of this publication for more disclosures.

Authored by Chris Konstantinos

For more news, information, and analysis, visit the ETF Strategist Content Hub.

Important Disclosure Information The comments above refer generally to financial markets and not RiverFront portfolios or any related performance. Opinions expressed are current as of the date shown and are subject to change. Past performance is not indicative of future results and diversification does not ensure a profit or protect against loss. All investments carry some level of risk, including loss of principal. An investment cannot be made directly in an index.

Information or data shown or used in this material was received from sources believed to be reliable, but accuracy is not guaranteed.

This report does not provide recipients with information or advice that is sufficient on which to base an investment decision. This report does not take into account the specific investment objectives, financial situation or need of any particular client and may not be suitable for all types of investors. Recipients should consider the contents of this report as a single factor in making an investment decision. Additional fundamental and other analyses would be required to make an investment decision about any individual security identified in this report. 

Chartered Financial Analyst is a professional designation given by the CFA Institute (formerly AIMR) that measures the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas such as accounting, economics, ethics, money management and security analysis. Four years of investment/financial career experience are required before one can become a CFA charterholder. Enrollees in the program must hold a bachelor’s degree.

All charts shown for illustrative purposes only. Technical analysis is based on the study of historical price movements and past trend patterns. There are no assurances that movements or trends can or will be duplicated in the future.

Stocks represent partial ownership of a corporation. If the corporation does well, its value increases, and investors share in the appreciation. However, if it goes bankrupt, or performs poorly, investors can lose their entire initial investment (i.e., the stock price can go to zero).  Bonds represent a loan made by an investor to a corporation or government.  As such, the investor gets a guaranteed interest rate for a specific period of time and expects to get their original investment back at the end of that time period, along with the interest earned. Investment risk is repayment of the principal (amount invested). In the event of a bankruptcy or other corporate disruption, bonds are senior to stocks.  Investors should be aware of these differences prior to investing.

In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa). This effect is usually more pronounced for longer-term securities). Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Lower-quality fixed income securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Foreign investments involve greater risks than U.S. investments, and can decline significantly in response to adverse issuer, political, regulatory, market, and economic risks. Any fixed-income security sold or redeemed prior to maturity may be subject to loss.

Technology and Internet-related stocks, especially of smaller, less-seasoned companies, tend to be more volatile than the overall market.

Artificial intelligence, or AI, refers to the simulation of human intelligence by software-coded heuristics. Nowadays this code is prevalent in everything from cloudbased, enterprise applications to consumer apps and even embedded firmware.

Index Definitions: Standard & Poor’s (S&P) 500 Index measures the performance of 500 large cap stocks, which together represent about 80% of the total US equities market.

The Institutional Brokers’ Estimate System (IBES) is a database used by brokers and active investors to access the estimates made by stock analysts regarding the future earnings of publicly traded American companies.

The MSCI USA Information Technology Index is designed to capture the large and mid cap segments of the US equity universe. All securities in the index are classified in the Information Technology sector as per the Global Industry Classification Standard (GICS®).            

The Russell 3000 Index is a market-capitalization-weighted index tracking the 3,000 largest publicly traded U.S. companies, representing approximately 98% of the investable U.S. equity market.

Definitions: Earnings before interest and taxes (EBIT) is a company’s operating profit without interest expenses and income taxes.

The term cash flow refers to the net amount of cash and cash equivalents being transferred in and out of a company. Cash received represents inflows, while money spent represents outflows.

Price-Earnings Ratio (P/E Ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings.

Inflation is a gradual loss of purchasing power, reflected in a broad rise in prices for goods and services over time.

When referring to being “overweight” or “underweight” relative to a market or asset class, RiverFront is referring to our current portfolios’ weightings compared to the composite benchmarks for each portfolio. Asset class weighting discussion refers to our Advantage portfolios.

Mega cap is a designation for the largest companies in the investment universe as measured by market capitalization. While the exact thresholds change with market conditions, mega cap generally refers to companies with a market capitalization above $200 billion.

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