Track market-moving stories before they get noisy

Total 2Q 2026 net product revenue of $218.4 million, representing 46% year-over-year growth AUVELITY® 2Q 2026 net product sales of $180.3 million, representing 51% year-over-year growth SUNOSI® 2Q 2026 net product revenue of $35.8 million, representing 20% year-over-year growth SYMBRAVO® 2Q 2026 net product sales of $2.3 million AUVELITY launched for treatment of agitation associated with dementia due to Alzheimer's disease in June 2026 NDA submission for AXS-12 for cataplexy in narcolepsy accepted by the FDA with PDUFA target action date of May 1, 2027 FOCUS-2 and FOCUS-3 Phase 3 trials of solriamfetol in children and adolescents with ADHD initiated Company to host conference call today at 8:00 AM Eastern NEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) disorders, today announced financial results for the second quarter of 2026 and provided a general business update. “The second quarter was highly productive for Axsome.

The Department of Energy (DOE) has narrowed the competition for its proposed Nuclear Lifecycle Innovation Campuses (NLICs) to five states: Utah, Tennessee, Oklahoma, Louisiana, and Idaho. The selection advances an effort that could create new investment and contracting opportunities across nearly every part of the nuclear value chain.

The biggest potential beneficiaries are not limited to reactor developers. Fuel suppliers, enrichment companies, manufacturers, and instrumentation providers could all participate. Companies with existing relationships in the five states may have an especially valuable head start.

Key Takeaways DOE selected five initial contenders after reviewing 28 applications from 26 states. The five states have signed memorandums of understanding to discuss potential hosting agreements. The proposed campuses could support enrichment, fuel fabrication, used-fuel recycling, waste management, reactors, manufacturing, power generation, and data centers. DOE estimates that the campuses could attract up to $50 billion in capital investment, generate as much as $10 billion in state and local tax revenue, and create nearly 25,000 jobs. DOE Has Moved From Competition to Negotiation The DOE introduced the NLIC concept earlier this year as a series of voluntary federal-state partnerships designed to rebuild the domestic nuclear fuel cycle. The agency said the campuses could include uranium enrichment, fuel fabrication, used-fuel reprocessing, recycling, and waste disposition. Depending on state priorities, they could also host advanced reactors, manufacturing facilities, power generation, and co-located data centers.

See more: Companies Set to Win as States Vie to Host Nuclear Campuses

DOE has now selected five initial contenders and signed memorandums of understanding (MOU) with each state to explore sighting potential NLICs in those states. The negotiations give states and companies an opportunity to assemble potential projects, financing structures, sites, infrastructure, and supply-chain partnerships.

Fuel companies such as Cameco (CCJ) and Centrus Energy (LEU) could address material and enrichment needs. BWX Technologies (BWXT), Curtiss-Wright (CW), Flowserve (FLS), and Mirion Technologies (MIR) represent different parts of the component, equipment, and instrumentation chain. Fluor (FLR) and Amentum (AMTM) bring engineering, construction, and nuclear-site management capabilities.

The result could be a multi-year contracting pipeline spread across the nuclear industry rather than a single award captured by one reactor company.

Utah Brings Fuel Materials and Waste Expertise Westinghouse (49% owned by Cameco (CCJ)) already maintains multiple Utah locations, including its Western Zirconium operation in Ogden. This existing industrial footprint could give Westinghouse an advantage if a Utah campus includes fuel materials, fabrication, or component production.

Terrestrial Energy (IMSR) has an MOU with Salt Lake City-based EnergySolutions (private) to evaluate EnergySolutions-owned sites for Integral Molten Salt Reactor plants. EnergySolutions’ waste operations and licensed disposal facility in Clive create a natural connection between advanced reactors and the back end of the fuel cycle.

Tennessee Is Building an Advanced Fuel Cluster Oklo (OKLO) has announced plans for an advanced fuel center in Oak Ridge. The proposed investment could total $1.68 billion, with an initial facility recycling used nuclear fuel into material for fast reactors such as Oklo’s Aurora powerhouse.

NANO Nuclear Energy (NNE) has an indirect Tennessee connection through LIS Technologies (private). NANO invested $2 million in LIST and entered a strategic collaboration with the company. LIST separately plans a $1.38 billion Oak Ridge enrichment facility, giving NANO potential exposure to Tennessee’s growing fuel ecosystem.

Oklahoma Offers a Greenfield Opportunity Oklahoma lacks the established private nuclear-company footprint found in Tennessee or Idaho. That could make it the clearest greenfield opportunity for reactor developers and fuel companies seeking a new regional foothold.

The state does have institutional interest through the Grand River Dam Authority, which joined three Nebraska utilities in the Great Plains New Nuclear Consortium. The consortium is evaluating the build-out of nuclear capacity in the region.

Louisiana Adds Operating Plants and Manufacturing Louisiana already has an established commercial nuclear base with Entergy (ETR) operating grid-scale reactors at the River Bend Station and Waterford plants. Turner Industries (private) has also announced nuclear fabrication facilities in New Iberia and Port Allen. Turner’s expansion is expected to create 1,000 jobs producing nuclear-grade piping and modular components.

Another potential pathway runs through Applied Atomics (private), which has secured rights for deploying the BWX Technologies (BWXT) mPower reactor. The mPower design from BWXT is a small modular reactor (SMR) engineered for powering data centers and critical loads without connecting to a national electric grid. Applied Atomics is working with the state of Louisiana to site some of their first facilities.

Idaho Already Resembles a Nuclear Innovation Campus For decades, the state has hosted Idaho National Laboratories (INL), one of the country’s leading DOE facilities for nuclear energy research and development.

Oklo (OKLO) signed a DOE agreement supporting the construction and operation of its first Aurora reactor at INL. Its Idaho work also includes a facility intended to fabricate Aurora’s first fuel assemblies, a project that is well aligned with the integrated NLIC model.

Lightbridge (LTBR) is separately working with INL to fabricate and irradiate experimental advanced-fuel materials. An Idaho campus could provide additional infrastructure for fuel qualification and eventual commercialization.

NUKZX Tracks the Broader Opportunity The NLIC initiative illustrates why nuclear investment opportunities extend beyond uranium mining or choosing a single reactor developer. Building just one of the NLICs would require multiple companies across the nuclear value chain.

The VettaFi Nuclear Renaissance Index (NUKZX) is designed around four segments from the nuclear value chain: Advanced Reactors, Utilities, Construction & Services, and Fuel. Those categories closely map to the potential NLIC opportunity. That breadth also reduces the need for investors to predict which state, reactor design, or fuel technology will ultimately emerge as the biggest winner.

NUKZX serves as the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ).

Related Research: Companies Set to Win as States Vie to Host Nuclear Campuses

The Consortium Fueling the Nuclear Renaissance

From Cold War Liability to Advanced Nuclear Fuel

Looking for nuclear insights in your inbox? Subscribe here to keep a pulse on nuclear investing through our weekly research.

For more news, information, and analysis, visit the Nuclear Energy Content Hub.

vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.

New additions to the Opteon™ portfolio support high-performance, sustainable cooling solutions in stationary chillers for AI-driven data centers, and commercial HVAC applications

, /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company, today announced the launch of Opteon™ ZE (R-1234ze(E)) and Opteon™ 515B (R-515B) for stationary chiller applications. The products further expand the industry-leading Opteon™ portfolio and provide customers with additional low-global warming potential (GWP) refrigerant options for large-scale cooling applications, including rapidly growing AI and data center infrastructure.

"AI is reshaping the demands placed on cooling infrastructure, and customers need solutions that can keep pace without compromising efficiency, reliability, or long-term regulatory readiness," said Joseph Martinko, President, Thermal & Specialized Solutions at Chemours. "With Opteon™ ZE and Opteon™ 515B, Chemours is expanding the choices available to chiller OEMs and operators as they build and maintain the critical systems powering data centers, commercial buildings, and other mission critical environments, while further strengthening our position in attractive, high-growth cooling applications."

As demand for artificial intelligence (AI), cloud computing, and digital infrastructure continues to grow, data center operators face increasing cooling requirements, higher heat loads, strict uptime requirements, and the need for solutions that can scale with future growth. Opteon™ ZE and Opteon™ 515B are low-GWP refrigerants designed to help address these challenges with efficient heat removal, reliable performance, and scalability, while supporting decarbonization and climate goals.

The products also support Chemours' continued focus on higher-value applications, including data center infrastructure, where long-term demand trends are driving increased investment in cooling solutions.

Opteon™ ZE (R-1234ze(E)) is a hydrofluoroolefin (HFO) based refrigerant engineered to deliver exceptional performance, characterized by an ultra-low GWP of approximately 1 (AR5), and zero ozone depletion potential (ODP). It has an ASHRAE A2L classification (mildly flammable). It is well suited for air- and water-cooled chillers, commercial air conditioning, heat pumps, and data center cooling applications. Opteon™ ZE offers high energy efficiency and compatibility with commonly used polyolester oil (POE) lubricants.

Opteon™ 515B (R-515B) is a zero ODP refrigerant blend consisting of approximately 91.1% R-1234ze(E) and 8.9% R-227ea. Featuring a GWP of approximately 293 (AR4) and an ASHRAE A1 classification (no flame propagation). For conventional chiller applications, Opteon™ 515B offers a balance of lower GWP, performance, and ease of adoption for customers transitioning from higher-GWP refrigerants.

Together, these products strengthen Chemours' position as a leading provider of low-GWP refrigerant solutions, expanding the company's ability to support a broader range of chiller applications while complementing its existing portfolio of Opteon™ refrigerants used in air conditioning, refrigeration, heat pumps, and across the HVACR industry.

Importantly, Chemours is uniquely positioned to supply these products through its extensive fluorochemicals expertise, and intellectual property portfolio. The company is confident in its ability to manufacture and sell Opteon™ ZE and Opteon™ 515B while respecting applicable intellectual property rights and supporting customers with dependable long-term supply.

Opteon™ ZE and Opteon™ 515B are available now in strategic countries, with additional market availability expected to follow aligned with market demand.

About The Chemours Company

The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers' biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 5,700 employees and 28 manufacturing sites and serves approximately 2,400 customers in approximately 110 countries. For more information, visit chemours.com or follow us on LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, new product development of refrigerants for chiller applications, expected contributions to advancing data center energy efficiency, improving sustainability, circularity, decreasing environmental footprint, plans to continue investment in research and development, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions, market adoption of technologies, geopolitical conditions and global health events, and changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. 

CONTACTS:

INVESTORS
Brandon Ontjes
VP, Head of Strategy & Investor Relations
+1.302.773.3300 
[email protected] 

NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
[email protected]  

SOURCE The Chemours Company

Aug 10 (Reuters) - Sensing-systems maker Teledyne ‌Technologies (TDY.N), opens new tab agreed to acquire Varex Imaging (VREX.O), opens new tab for $18.90 per share in an all-cash transaction valued at approximately $1.1 billion, the companies said on Monday.

Shares of X-ray ​imaging components maker Varex jumped nearly 50% before ​the bell.

Learn about the latest breakthroughs in AI and tech with the Reuters Artificial Intelligencer newsletter. Sign up here.

The transaction that is expected to close in ⁠early 2027 would broaden Teledyne's healthcare portfolio, which includes ​imaging and sensing technologies for medical, dental and life science ​applications, supporting diagnosis, treatment and clinical research.

"Our X-ray technologies fit naturally alongside Teledyne's product portfolio, and its resources will help us accelerate adoption ​of our advanced imaging solutions and development of the ​next generation of products," said Varex CEO Sunny Sanyal.

Salt Lake City-based Varex's ‌X-ray ⁠imaging components are used in medical diagnostic imaging, security inspection systems and quality inspection systems, as well as for analysis and measurement applications in industrial manufacturing applications.

The company posted ​third-quarter profit ​above Wall Street ⁠estimates on Monday as it recovered tariff-related costs while reeling from supply chain disruptions ​and China destocking trends.

"The quarter also included the ​recovery ⁠of tariffs that had increased our product costs in prior periods. We generated $21 million of operating cash flow," Sanyal said.

Quarterly ⁠adjusted ​profit came in at 31 cents ​per share, 10 cents ahead of analysts' expectation, according to data compiled by ​LSEG.

Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Joyjeet Das

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Labcorp's FDA‑approved PGDx elio® tissue complete CDx helps identify advanced melanoma patients with certain BRAF variants eligible for BRAF and BRAF/MEK inhibitor therapies Supports access to targeted treatment options for the deadliest form of skin cancer , /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, today announced that the U.S. Food and Drug Administration (FDA) has approved Labcorp's PGDx elio® tissue complete CDx as a companion diagnostic to help identify patients with advanced melanoma with certain BRAF variants who may benefit from treatment with FDA-approved targeted therapiesi.

Addressing a Critical Need in Advanced Melanoma
Melanoma is the deadliest form of skin cancer, with a five‑year survival rate of just 16% for patients diagnosed with stage IV disease. However, targeted therapies are an important treatment option for patients with advanced melanoma whose tumors have a BRAF alteration. As a companion diagnostic, PGDx elio tissue complete CDx helps clinicians identify which melanoma patients carry these BRAF V600E/K variants and may benefit from treatment with FDA-approved BRAF inhibitors and BRAF/MEK inhibitor combination regimens.

"Advanced melanoma is an extremely aggressive and life‑threatening cancer, but targeted treatments are offering real hope for patients," said Shakti Ramkissoon, M.D., Ph.D., vice president, medical lead for oncology at Labcorp. "Labcorp's FDA‑approved companion diagnostic improves access to these therapies by allowing clinicians to confirm which patients may be eligible for and can start receiving those treatments as soon as possible."

A Comprehensive and Scalable Testing Solution
Labcorp's PGDx elio tissue complete CDx is approved for use by qualified healthcare professionals across hospitals and clinical laboratories, supporting broader patient access to high-quality molecular testing. As a kit-based solution, the companion diagnostic can be implemented directly within hospitals and health systems, expanding access to testing while enabling organizations to retain samples and data that may inform future clinical research.

The addition of Labcorp's PGDx elio tissue complete CDx reflects the continued expansion of Labcorp's precision medicine portfolio, which includes comprehensive tissue- and liquid-based oncology diagnostics designed to support personalized care. For more information about PGDx elio tissue complete or Labcorp's oncology solutions, visit https://www.labcorp.com/oncology/providers/testing-solutions/kitted-solutions/pgdx-elio-tissue-complete-cdx.

About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025 and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com.

iPGDx elio tissue complete CDx is a qualitative next generation sequencing-based in vitro diagnostic device that uses a high-throughput hybridization-based capture technology utilizing DNA isolated from formalin-fixed paraffin embedded tumor tissue. The PGDx elio tissue complete CDx targeted panel can detect single nucleotide variants, small insertions and deletions, copy number amplifications, and translocations. It is intended to be used as a companion diagnostic to identify melanoma patients who may benefit from treatment with targeted therapies listed below in accordance with the approved therapeutic product labeling.

PGDx elio tissue complete CDx Indications
Indication: Melanoma
Biomarker: BRAF V600E/ BRAF V600K
Therapy: BRAF inhibitors approved by FDA or BRAF/MEK inhibitor combinations approved by FDA

SOURCE Labcorp

, /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) (the "Company") today announced that it has commenced tender offers to purchase for cash the debt securities issued by the Company referred to below (collectively, the "Notes," and each a "Series"), in each case upon the terms and subject to the conditions set forth in the Offer to Purchase dated August 10, 2026 (the "Offer to Purchase"). The Company is making the Tender Offers as a balanced capital allocation strategy intended to grow the long-term earnings of the Company.

Series of
Notes

CUSIP/ISIN
Number(1)

Aggregate
Principal
Amount
Outstanding

Offer Sub
Cap(2)

Acceptance
Priority
Level(3)

Maturity
Date /
Par Call
Date

Reference
Security

Bloomberg
Reference
Page

Fixed
Spread
(Basis
Points)

7.125%
Senior
Notes due
2029 (Any
and All
Offer)

099724 AC0 /
US099724AC03

$120,685,000

N/A

N/A

February
15, 2029
/ N/A

3.500%
UST due
2/15/2029

FIT 5

+25

4.375% 
Senior
Notes due
2045

099724 AH9 /
US099724AH99

$500,000,000

N/A

1

March 15,
2045 /
September
15, 2044

5.000%
UST due
5/15/2046

FIT 1

+65

5.400% 
Senior
Notes due
2034

099724 AQ9 /
US099724AQ98

$500,000,000

N/A

2

August
15, 2034
/ May 15,
2034

4.375%
UST due
5/15/2036

FIT 1

+40

4.950% 
Senior
Notes due
2029

099724 AP1 /
US099724AP16

$500,000,000

N/A

3

August
15, 2029
/ July 15,
2029

4.125%
UST due
7/15/2029

FIT 1

+30

2.650% 
Senior
Notes due
2027 

099724 AL0 /
US099724AL02

$1,100,000,000

$250,000,000

4

July 1,
2027 /
May 1,
2027

3.750%
UST due
6/30/2027

FIT 3

+20

_________________

(1)

No representation is made as to the correctness or accuracy of the CUSIP or ISIN numbers listed above.

(2)

The Offer Sub Cap (as defined below) represents the maximum aggregate principal amount of Waterfall Notes of such series to be purchased pursuant to the Offers.

(3)

Subject to the satisfaction or waiver by the Company of the conditions of the Offers described in the Offer to Purchase, the Company will accept Waterfall Notes for purchase in the order of their respective Acceptance Priority Level specified in this table (each, an "Acceptance Priority Level," with 1 being the highest Acceptance Priority Level and 4 being the lowest Acceptance Priority Level).

The Tender Offers consist of offers to purchase for cash (i) any and all of the Company's outstanding 7.125% Senior Notes due 2029 (the "7.125% Notes" and the "Any and All Offer") for the Tender Consideration and (ii) four separate offers, one for each Series of Notes set forth in the table above (other than the 7.125% Notes) (the "Waterfall Notes") (each, an "Offer" and, collectively, the "Offers," and together with the Any and All Offer, a "Tender Offer" and, collectively, the "Tender Offers") for aggregate Tender Consideration of up to $720,000,000 (the "Waterfall Cap"), excluding the Accrued Interest Payment (as defined below), subject to the proration and the application of the Acceptance Priority Levels set forth in the table above and as further set forth in the Offer to Purchase and the terms and conditions, including, among others, a cap of $250,000,000 (the "Sub Cap") on the maximum aggregate principal amount of the 2.650% Senior Notes due 2027 (the "2.650% Notes") to be purchased pursuant to the Offer. The Company may, but is under no obligation to, increase the Waterfall Cap or the Sub Cap. Additionally, the Company may increase the amount of Waterfall Notes accepted for payment in the Offers by no more than 2% of the outstanding Waterfall Notes of the applicable Series, as further described in the Acceptance Priority Procedures set forth in the Offer to Purchase, without amending or extending the Offer. In the event proration is required with respect to a Series of Waterfall Notes, the Company will multiply the principal amount of each valid tender of such Series of Waterfall Notes by the applicable proration rate and round the resulting amount down to the nearest integral multiple of $1,000, in order to determine the principal amount of such tender that will be accepted pursuant to the applicable Offer. The Offer to Purchase and any related documents are referred to herein collectively as the "Tender Offer Documents." Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase.

On August 10, 2026, the Company intends to deliver to The Bank of New York Mellon ("BNY," as successor in interest to The First National Bank of Chicago and as trustee of the 7.125% Notes) a notice of redemption to redeem on September 9, 2026 (the "Redemption Date") all of the 7.125% Notes that remain outstanding following the Any and All Offer, to the extent the Company purchases less than all of the 7.125% Notes in the Any and All Offer, in accordance with the terms of the Indenture, dated February 15, 1999 (the "7.125% Notes Indenture"), between the Company (f/k/a Borg-Warner Automotive, Inc.) and BNY, at a make-whole redemption price pursuant to the 7.125% Notes Indenture plus accrued and unpaid interest to, but not including, the Redemption Date.

The "Tender Consideration" for each Series of Notes payable per each $1,000 principal amount of such Series of Notes validly tendered for purchase will be based on the applicable Fixed Spread for such Series of Notes, plus the Reference Yield based on the applicable Reference Security as quoted on the applicable Bloomberg Reference Page as of 3:00 p.m., New York City time, on August 14, 2026 (the "Price Determination Date"). Unless extended with respect to any Offer, promptly after the Price Determination Date, the Company will announce in a press release, among other things, the Tender Consideration applicable to each Series of Notes accepted for purchase. Holders must validly tender (and not validly withdraw) their Notes at or prior to the Expiration Date (as defined below) to receive the Tender Consideration. The formula for determining the Tender Consideration is set forth on Annex A to the Offer to Purchase. See "The Tender Offers—Tender Consideration" of the Offer to Purchase.

In addition to the Tender Consideration, all Holders whose Notes are accepted for purchase pursuant to a Tender Offer will, on the Settlement Date, also receive accrued and unpaid interest on those Notes from the last interest payment date with respect to those Notes to, but excluding, the Settlement Date (the "Accrued Interest," and the payment thereof, the "Accrued Interest Payment").

The Tender Offers will expire at 5:00 p.m., New York City time, on August 14, 2026 (such time and date, as it may be extended, the "Expiration Date"), unless extended or earlier terminated by the Company. The Notes tendered may be withdrawn at any time at or prior to the Expiration Date by following the procedures described in the Offer to Purchase.

The "Settlement Date" will be the second business day after the Expiration Date and is expected to be August 18, 2026.

The Company's obligation to accept for purchase and to pay for Notes of each series validly tendered and not validly withdrawn pursuant to the Tender Offers is subject to the satisfaction or waiver, in the Company's discretion, of certain conditions, which are more fully described in the Offer to Purchase. If any condition is not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each case subject to applicable law, and may terminate or alter any or all of the Tender Offers. Subject to applicable law, the Company reserves the right to (i) waive any and all conditions to the any or all of the Tender Offers, (ii) extend or terminate the Any and All Offer or the Offers, including the Expiration Date, or (iii) otherwise amend any of the Tender Offers. The Tender Offers are not contingent upon the tender of any aggregate minimum principal amount of Notes of any Series (subject to minimum denomination requirements as set forth in the Offer to Purchase), and none of the Tender Offers is conditioned on the consummation of any of the other Tender Offers by the Company. The complete terms and conditions of the Tender Offers are set forth in the Tender Offer Documents. Holders of Notes are urged to read the Tender Offer Documents carefully.

Information Relating to the Tender Offers

The Offer to Purchase is being distributed to holders beginning today. Barclays Capital Inc. and PNC Capital Markets LLC are the dealer managers for the Tender Offers. Investors with questions regarding the Tender Offers may contact Barclays Capital Inc. at (212) 528-7581 or toll-free at (800) 438-3242, or email [email protected], or PNC Capital Markets LLC at (212) 878-8946 or toll-free at (833) 715-3537, or email [email protected]. Global Bondholder Services Corporation is the tender and information agent for the Tender Offers and can be contacted at (212) 430-3774 or toll-free at (855) 654-2015. The Offer to Purchase may be accessed at the following web address: https://www.gbsc-usa.com/borgwarner/. 

Holders of Notes are advised to check with each bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that Holder to be able to participate in, or withdraw their instruction to participate in the Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and The Depositary Trust Company for the submission and withdrawal of tender instructions may be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

None of the Company, the dealer managers, the tender and information agent, the trustees or any of their respective directors, officers, employees or affiliates makes any recommendation as to whether holders should tender Notes of a series in response to the Tender Offers. Each holder must make his, her or its own decision as to whether to tender Notes and, if so, as to what principal amount of Notes to tender.

This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only to such persons and in such jurisdictions as is permitted under applicable law.

About BorgWarner

For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. With a focus on sustainability, we're helping to build a cleaner, healthier, safer future for all.

Forward-Looking Statements

This release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact, contained or incorporated by reference in this release that we expect or anticipate will or may occur in the future regarding our financial position, including our guidance for full year 2026, our business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and profitable growth of our business and operations, plans, references to future success, including the anticipated benefits of our new business awards and other such matters, are forward looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our most recently filed Annual Report on Form 10-K ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: the success of our portfolio strategy; supply disruptions impacting us or our customers, commodity availability and pricing and an inability to achieve expected levels of recoverability in commercial negotiations with customers concerning these costs; conditions in the automotive industry; competitive challenges from existing and new competitors, including original equipment manufacturer ("OEM") customers; the challenges associated with rapidly changing technologies, including artificial intelligence, and our ability to innovate in response; the difficulty in forecasting demand for electric vehicles and our electric vehicles revenue growth; potential future changes in laws and regulations, including, by way of example, taxes and tariffs, in the countries in which we operate; potential disruptions in the global economy caused by wars or other geopolitical conflicts; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions on a timely basis; the possibility that our 2023 tax-free spin-off of our former Fuel Systems and Aftermarket segments into a separate publicly traded company will not achieve its intended tax benefits; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; impacts of our exit of the charging business; our dependence on automotive and truck production, which is highly cyclical and subject to disruptions; our reliance on major OEM customers; impacts of any future strikes involving any of our OEM customers and any actions such OEM customers take in response; fluctuations in interest rates and foreign currency exchange rates; our dependence on information systems; the uncertainty of the global economic environment; the uncertainty surrounding global trade policies, including tariffs and export restrictions and their impact on the Company, its customers and its suppliers; the outcome of existing or any future legal proceedings, including litigation with respect to various claims, or governmental investigations, including related litigation; impacts from any potential future acquisition or disposition transactions; and the other risks discussed in reports that we file with the Securities and Exchange Commission, including in Item 1A. "Risk Factors" in our most recently filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

SOURCE BorgWarner

HomeEarnings AnalysisIndustrial 

SummaryArmstrong World Industries is reiterated as a buy, driven by positive Mineral Fiber volume, robust Architectural Specialties growth, and improving office activity.Q2 revenue rose 11.2% y/y to $472M, with management raising FY2026 revenue guidance to $1.77–$1.80B, though margin pressure persists from recent acquisitions.Growth initiatives like Kanopi and ProjectWorks are gaining traction, targeting above-market Mineral Fiber volume and earlier project specification to boost win rates.Key monitoring points for AWI are conversion of initiatives to P&L impact, margin improvement in acquired businesses, and managing cost pressures, especially freight inflation.Maskot/DigitalVision via Getty Images

Investment action I previously gave Armstrong World Industries (AWI) a buy because of the positive Mineral Fiber volume, Architectural Specialties [AS] growth, and improving office activity. I am reiterating my buy. If AWI can sustain positive Mineral Fiber volume, convert strong

505 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Hims & Hers Health, Inc. (NYSE:HIMS) will release its second quarter earnings report after the closing bell on Monday, Aug. 10.

Analysts expect the San Francisco, California-based company to report a quarterly loss of 5 cents per share, versus earnings of 17 cents per share in the year-ago period. The consensus estimate for Hims & Hers Health’s quarterly revenue is $730.12 million. It reported $544.83 million last year, according to Benzinga Pro.

On July 23, an Food and Drug Administration advisory panel voted to place the BPC-157 peptide on an allowed pharmacy compounding list.

Hims & Hers Health shares gained 6.5% to close at $31.59 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

B of A Securities analyst Allen Lutz maintained a Neutral rating and raised the price target from $36 to $37 on July 9, 2026. This analyst has an accuracy rate of 56%. Canaccord Genuity analyst Maria Ripps maintained a Buy rating and boosted the price target from $32 to $40 on July 1, 2026. This analyst has an accuracy rate of 69%. Barclays analyst Glen Santangelo maintained an Overweight rating and boosted the price target from $29 to $39 on June 18, 2026. This analyst has an accuracy rate of 56%. JP Morgan analyst Cory Carpenter maintained an Overweight rating and cut the price target from $35 to $33 on May 12, 2026. This analyst has an accuracy rate of 53%. BTIG analyst David Larsen maintained a Neutral rating on May 12, 2026. This analyst has an accuracy rate of 58%. Considering buying HIMS stock? Here’s what analysts think:

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NioCorp Management to Review Feasibility Study Results for its Elk Creek Project and Take Questions From Analysts and Investors

Register Here: https://redchip.zoom.us/webinar/register/WN_nkbK9DNtTzqfpHtDMWUFNw

CENTENNIAL, CO / ACCESS Newswire / August 10, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, today announced that it will host a live webcast on Tuesday, August 11, 2026, at 10:00 AM ET to discuss the results of its updated feasibility study for the Elk Creek Critical Minerals Project (the "Elk Creek Project").

NioCorp Executive Chairman and CEO Mark A. Smith and Chief Operating Officer Scott Honan will host the 1-hour call and review key results of the updated feasibility study followed by a question-and-answer session with analysts and investors.

Conference Call and Webcast Details:

Date:

Tuesday, August 11, 2026

Time:

10:00 AM ET

Webcast Registration:

https://redchip.zoom.us/webinar/register/WN_nkbK9DNtTzqfpHtDMWUFNw

Dial-In Number(s):

+1 305 224 1968 or +1 312 626 6799

Webinar ID:

841 7624 3893

Replay:

A replay will be available on the Company's website at following the call.

Questions may be submitted in advance to [email protected] or provided during the live webcast.

# # #

FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements may include, but are not limited to, statements regarding statements made during the webcast; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including aluminum scandium alloy; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the SEC and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to consummate the Offering; NioCorp's ability to use the net proceeds of the Offering in a manner that will increase the value of shareholders' investment; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of Defense; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, development, or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

Opportunistic capital raise with proceeds intended to enhance financial flexibility and support growth initiatives
TAIPEI, Taiwan and MILPITAS, Calif., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion”), a global leader in designing and marketing NAND flash controllers for solid-state storage devices (“SSDs”), today announced its intention to offer, subject to market and other conditions, $800,000,000 aggregate principal amount of 0.00% convertible senior notes due 2031 (the “Notes”) in a private offering to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Silicon Motion also expects to grant the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $120,000,000 aggregate principal amount of Notes.

The Notes will be senior, unsecured obligations of Silicon Motion. The Notes will not bear regular interest, and the principal amount of the Notes will not accrete. The Notes will mature on August 15, 2031, unless earlier repurchased, redeemed or converted. Prior to the close of business on the business day immediately preceding May 15, 2031, holders of the Notes will have the right to convert their Notes upon the satisfaction of specified conditions and during certain periods. On or after May 15, 2031 until the close of business on the second scheduled trading day immediately preceding the maturity date, the Notes will be convertible at the option of the holders at any time regardless of these conditions. Silicon Motion will settle each conversion by paying the principal amount (or, if less, the conversion value) of the Notes in cash, and any conversion value in excess of the principal amount will be settled in cash, American depositary shares of Silicon Motion (the “ADSs”), each representing four ordinary shares of Silicon Motion, par value $0.01 per share, or any combination thereof, at Silicon Motion’s election.

Silicon Motion may redeem the Notes for cash at its option, in whole but not in part, in connection with certain tax-related events. In addition, the Notes will be redeemable, in whole or in part (subject to certain limitations), for cash, at Silicon Motion’s option, on or after August 20, 2029 if the last reported sale price of the ADSs equals or exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. The redemption price, in each case, will be equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. Holders of the Notes will have the right to require Silicon Motion to repurchase their Notes upon the occurrence of a fundamental change (as defined in the indenture governing the Notes) or on August 15, 2029, in each case, at a cash repurchase price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the applicable repurchase date. The initial conversion rate and other terms of the Notes will be determined at the pricing of the offering.

Silicon Motion intends to use the net proceeds from the offering for general corporate purposes and to repay amounts outstanding under its credit agreement. Pending the use of the net proceeds from this offering as described above, Silicon Motion may invest the net proceeds in short-term, investment grade, interest-bearing securities.

The offer and sale of the Notes, the ADSs, if any, issuable upon conversion of the Notes, and the ordinary shares represented thereby, have not been, and will not be, registered under the Securities Act, or any other securities laws, and the Notes, any such ADSs and ordinary shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, the ADSs, if any, issuable upon conversion of the Notes, or the ordinary shares represented thereby, nor will there be any offer, solicitation or sale of the Notes, any such ADSs or ordinary shares, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation (NasdaqGS: SIMO) is the global leader in supplying NAND flash controllers for SSDs. The company ships more SSD controllers than any other supplier worldwide for servers, PCs, and other edge devices, and is also the leading merchant provider of eMMC and UFS embedded storage controllers used in smartphones, IoT products, and automotive applications.

Silicon Motion also delivers customized, high-performance controller solutions for Enterprise SSDs, Enterprise boot drives, Edge SSDs, Embedded UFS & eMMC, and Ferri solutions for automotive. Its controllers and storage solutions are designed to power the world’s most advanced AI Infrastructure, Edge AI, and Physical AI, combining high performance, low power, and proven reliability.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the anticipated terms of the Notes being offered, the completion, timing and size of the proposed offering and the intended use of the proceeds. Forward-looking statements represent Silicon Motion’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those indicated in, or implied by, the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of the ADSs and risks relating to Silicon Motion’s business, including those described in documents Silicon Motion files from time to time with the U.S. Securities and Exchange Commission, including Silicon Motion’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2026. Silicon Motion may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering or the Notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Silicon Motion does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

Silicon Motion Investor Contacts:

Memory maker Sandisk (SNDK -3.68%) reported fiscal fourth-quarter results last Wednesday, and the quarter itself wasn't the biggest news in the release. The board approved an additional $14 billion share repurchase program, bringing Sandisk's total remaining buyback authorization to $15.5 billion.

For perspective, the market values the entire company at about $181 billion as of this writing. Spent at recent prices, $15.5 billion would retire about 8.6% of Sandisk's shares.

Whether the program delivers that much value comes down to the cash flow funding it -- cash flow that mostly didn't exist a year ago.

Image source: The Motley Fool.

A sudden cash machine Sandisk's fiscal fourth-quarter revenue came in at $8.97 billion, up 372% year over year, while gross margin reached 84.6%, up from 26.2% a year earlier. Full-year revenue rose 175% to $20.2 billion in fiscal 2026 (ended July 3, 2026), and the company swung from a $1.6 billion net loss the year before to $11.4 billion of net income.

Pricing is doing most of the work. Sandisk said sequential revenue growth in the quarter came about one-third from higher volumes and two-thirds from higher pricing.

And datacenter revenue rose 437% year over year in fiscal 2026 as artificial intelligence (AI) infrastructure build-outs drove demand for the company's NAND flash storage.

Booming prices fall almost straight through to cash. Operating cash flow reached $11.7 billion in fiscal 2026, compared to $84 million the year before, and it is still accelerating -- the quarterly figure more than doubled from $3.0 billion in fiscal Q3 to $7.1 billion in fiscal Q4.

Meanwhile, capital spending totaled just $177 million for the year. Sandisk also paid off its long-term debt and finished the year with about $4.8 billion in cash. And even the company's more conservative measure of cash generation is enormous: Adjusted free cash flow, which excludes about $2.5 billion of customer prepayments and deposits, was $8.7 billion.

Management has already shown its pace The new authorization didn't come out of nowhere. The board approved a $6 billion repurchase program on April 30, and by the time the fiscal year closed on July 3 (about two months later), Sandisk had already spent about $4.5 billion of it.

That pace explains the size of the follow-up. With only about $1.5 billion left on the April program, the board added $14 billion. The company said it expects repurchases to be funded by operating cash flows.

And CEO David Goeckeler said in the release that Sandisk's technology and products "are well positioned to create value for our customers and generate growing and durable free cash flow."

To me, that spending pace is the most telling number in the release.

At recent prices, the full $15.5 billion would repurchase about 13 million of Sandisk's 149 million outstanding shares. Fewer shares means each remaining share holds a larger claim on the company's earnings, though continuing stock-based pay will likely offset some of the reduction.

Will the pricing hold? Of course, everything funding this program rides on memory prices. After all, a year ago this same business generated $1.9 billion of quarterly revenue at a 26.2% gross margin and essentially broke even. Pricing turned it into a company earning $11 billion a year. But memory pricing has historically swung in cycles.

For now, management expects conditions to keep improving. It guided fiscal first-quarter revenue to a range of $10.3 billion to $10.8 billion, another sequential step-up of 15% to 20%. Non-GAAP (adjusted) earnings per share are expected to land between $44 and $46, compared to $39.25 in fiscal Q4.

Sandisk is also signing customers to what it calls New Business Model agreements. After announcing five of them in April, the company signed five more, three with new customers. Upfront payments under these agreements totaled about $2.5 billion in fiscal 2026 (customers paying ahead for supply).

Today's Change

(

-3.68

%) $

-46.37

Current Price

$

1,212.21

Investors, meanwhile, seem skeptical the earnings will hold. At about $1,212 as of this writing, shares trade near 16 times fiscal 2026 earnings and sit at about half their 52-week high.

A multiple that low, against growth that fast, is arguably the market betting that earnings come down. In other words, a rollover may already be priced in.

Ultimately, I think that skepticism applies to the buyback, too. If NAND pricing holds anywhere near current levels, Sandisk can fund the entire $15.5 billion with well under two years of cash flow. But if pricing rolls over the way it has in past cycles, the cash flow shrinks with it -- and the company noted it can suspend the program at any time.

The business is generating extraordinary amounts of cash right now. How long that continues will decide what the $15.5 billion is worth.

Meta CEO Mark Zuckerberg. Bloomberg/Getty Images Mark Zuckerberg is launching a new AI model and a vision for a more open form of superintelligence.

The social media giant unveiled Muse Glimmer on Monday and said it is an open-weight, agentic model small enough to run on a Mac or PC. Open-weight means users can download and customize the model to run it locally instead of in the cloud.

Meta also plans to release an open-weight version of Muse Spark, its most powerful AI model, soon, Zuckerberg added.

Meta said it trained Glimmer on Muse Spark using a process known as distillation, where a smaller model learns from a larger "teacher" model.

Meta said that Glimmer, the latest model rolled out by the company's Superintelligence division led by former Scale AI CEO Alexander Wang, can perform complex reasoning and handle a broad range of agentic tasks while running on a consumer device with a single graphics card.

Glimmer can break a task, such as coding or admin work, into steps. Meta said it "performs strongly for its size class" on several benchmarks for large language models.

The Meta CEO also published a 6,500-word essay from Zuckerberg making a positive case for superintelligent AI.

In the essay, titled "The Future Is for Everyone," Zuckerberg wrote that it was "surprising" that the discourse from so many of the people developing AI was so "filled with doom."

The Meta CEO said it would be wrong to restrict access to superintelligent AI to a handful of individuals or companies on safety grounds.

"Some argue that superintelligence itself or a small set of experts who control it should decide what is best for humanity. We disagree," Zuckerberg wrote.

Meta's model launch comes as the tech industry is embroiled in a debate over open weight AI.

Last month, nearly every major AI lab — including Meta — signed a public letter advocating for open-weight models, after the US government suggested it could sanction Chinese open models that were found to have distilled AI models built by their US rivals.

"Foreign labs currently hold several advantages here since American labs have to comply with many additional restrictions on training data," Zuckerberg wrote in his essay. "US policy must reduce this additional friction if we want American open source models to lead over time."

This is a developing story. Check back for updates.

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Dickmeyer Boyce Financial Management Inc. purchased a new position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,901 shares of the software giant’s stock, valued at approximately $5,516,000. Microsoft comprises about 3.2% of Dickmeyer Boyce Financial Management Inc.’s portfolio, making the stock its 7th largest position.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Microsoft in the fourth quarter worth $50,664,631,000. Auto Owners Insurance Co grew its holdings in shares of Microsoft by 56,160.8% during the fourth quarter. Auto Owners Insurance Co now owns 60,116,384 shares of the software giant’s stock valued at $29,073,486,000 after buying an additional 60,009,531 shares during the last quarter. Nuveen LLC acquired a new position in shares of Microsoft in the 1st quarter valued at $18,733,827,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Microsoft by 500.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,543,261 shares of the software giant’s stock valued at $30,840,432,000 after acquiring an additional 49,618,571 shares during the period. Finally, Laurel Wealth Advisors LLC raised its stake in Microsoft by 49,640.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 29,967,038 shares of the software giant’s stock worth $14,905,904,000 after acquiring an additional 29,906,791 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Insider Transactions at Microsoft In other news, EVP Takeshi Numoto sold 4,810 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total transaction of $2,388,068.80. Following the transaction, the executive vice president owned 42,677 shares in the company, valued at $21,188,276.96. This trade represents a 10.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Amy Coleman sold 1,262 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $411.34, for a total transaction of $519,111.08. Following the completion of the sale, the executive vice president directly owned 46,003 shares of the company’s stock, valued at approximately $18,922,874.02. The trade was a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,572 shares of company stock valued at $17,775,330 in the last three months. 0.03% of the stock is currently owned by company insiders.

Microsoft Price Performance NASDAQ:MSFT opened at $499.99 on Monday. Microsoft Corporation has a 52 week low of $349.20 and a 52 week high of $553.72. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.71 trillion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The stock’s 50-day moving average price is $404.86 and its 200-day moving average price is $406.59.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.50. The company had revenue of $90.01 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Microsoft had a return on equity of 31.98% and a net margin of 40.31%.Microsoft’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.65 EPS. As a group, equities analysts expect that Microsoft Corporation will post 19.58 EPS for the current fiscal year.

Microsoft Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a $0.91 dividend. The ex-dividend date is Thursday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. Microsoft’s payout ratio is 20.27%.

Key Microsoft News Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Citi raised its Microsoft price target to $600. The upgrade follows Microsoft’s quarterly Azure performance, with analysts highlighting the 43% cloud-revenue increase and stronger-than-expected earnings as evidence that AI demand is translating into accelerating cloud growth. Citi Raises Microsoft Stock Target to $600 Positive Sentiment: Microsoft’s custom AI chips may improve cloud economics. CEO Satya Nadella said the company’s internally developed chips can deliver efficiency gains of up to 40%. Better cost and energy efficiency could help Microsoft support AI workloads while protecting Azure margins. Microsoft Custom AI Chips Improve Efficiency Positive Sentiment: Azure is expanding in India. Microsoft opened a major Hyderabad data-center region and is committing approximately $20.5 billion to its Indian cloud and AI operations. Early customers include Adani Group and HDFC Bank, supporting the case for long-term international Azure growth. Microsoft Opens Largest India Data Center Hub Positive Sentiment: Fundamentals and institutional support remain strong. Microsoft recently exceeded quarterly revenue and EPS expectations, while Bill Ackman’s Pershing Square holds a reported $2.4 billion MSFT position. Scotiabank also raised its fiscal 2027 EPS estimate and maintained an Outperform rating. Bill Ackman Microsoft Stake Neutral Sentiment: AI demand is powerful but concentrated. Reports suggest OpenAI may account for a substantial portion of Microsoft’s AI sales, creating both a major growth engine and customer-concentration risk. Microsoft’s large AI backlog also does not guarantee equivalent future profitability. Negative Sentiment: Spending, margins and valuation remain concerns. Rising data-center capital expenditures and lower cloud gross margins could pressure cash flow if AI infrastructure costs grow faster than revenue. After the sharp post-earnings rally, the stock is also more vulnerable to profit-taking or disappointing guidance. Negative Sentiment: Insider sales and securities litigation add headline risk. CEO Judson Althoff sold 10,000 shares for roughly $4.9 million, and multiple law firms are publicizing a securities class action with an August 11 lead-plaintiff deadline. These developments do not establish wrongdoing but may weigh on near-term sentiment. Analysts Set New Price Targets MSFT has been the topic of several research analyst reports. UBS Group set a $525.00 price target on Microsoft in a research note on Thursday, July 30th. Evercore set a $528.00 target price on Microsoft in a report on Thursday, July 30th. Piper Sandler upped their target price on Microsoft from $540.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. HSBC cut their price target on shares of Microsoft from $593.00 to $571.00 in a report on Thursday, April 30th. Finally, Phillip Securities lowered shares of Microsoft from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, August 3rd. Forty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $558.87.

View Our Latest Stock Report on MSFT

Microsoft Company Profile (Free Report)

Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.

Microsoft’s product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).

Recommended Stories Five stocks we like better than Microsoft Albemarle’s Blowout Quarter Shows Why Lithium Still Matters Can DICK’S Turn Foot Locker Into a Winner? Why Dutch Bros Plunged Despite a Q2 Earnings Beat and Record Revenue Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War Want to see what other hedge funds are holding MSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsoft Corporation (NASDAQ:MSFT – Free Report).

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I've been writing about Procter & Gamble (PG -0.80%) for years, and my conviction has never been higher, because the company keeps doing the boring, hard things that compound over time: It protects its brands, invests in innovation, and quietly returns a lot of cash to shareholders even when the environment is rough.

Fiscal 2026 was not a blowout year for Procter & Gamble. Net sales grew 3%, organic sales rose 1%, and core earnings per share increased 1%. That's the kind of result many investors would shrug at. What matters to me is that those numbers landed right inside the company's guidance in a year that featured currency swings, higher energy and transportation costs, and uneven demand across regions.

P&G's strategy is deliberately simple. It focuses on daily use categories where performance drives brand choice and seeks to deliver superiority in product, packaging, communication, retail execution, and value. It pairs that with what it calls "constructive disruption" and a heavy dose of productivity, meaning it constantly looks for ways to do the same work with fewer resources. The result is a business that rarely looks spectacular quarter to quarter but, over many years, keeps nudging growth and margins in the right direction.

Image source: Getty Images.

Innovation that actually shows up in products This is not a sleepy soap company. In April, Procter & Gamble was named the top household products company on Fortune's America's Most Innovative Companies list for the third year in a row, with product innovation singled out as its biggest strength.

What makes me more confident today than a few years ago is how P&G is marrying that science with data. The company talks openly about using AI-led tools to optimize brand-building and go-to-market strategies, and about using digital platforms to sharpen where and how its brands show up in stores and online. E-commerce now accounts for about 20% of total sales, growing 6% in fiscal 2026, which shows its brands are not stuck on the old shelf-only model.

A dividend story with real substance Income investors already know the headline numbers, but they still matter. Procter & Gamble has paid a dividend for 136 straight years and has raised that dividend for 70 consecutive years. The company is a strong Dividend King -- which is a company that's grown its dividend payment for at least 50 consecutive years. In April, the board raised the quarterly payout 3% to $1.0885 per share, and the company expects to return about $10 billion in dividends and roughly $5 billion in share repurchases in fiscal 2026.

To me, the streak is not impressive on its own. What impresses me is that P&G keeps raising the dividend while still funding innovation and absorbing cost shocks. The payout ratio sits in the mid-60 % range, leaving room to invest in brands, supply chain upgrades, and digital tools. When a company can do all of that and still return more than $15 billion a year to shareholders, it says something about the durability of its cash engine.

Today's Change

(

-0.80

%) $

-1.18

Current Price

$

145.79

Why conviction is higher, not lower The past few years have thrown almost everything at consumer goods companies: inflation, currency swings, shifting channel mix, and pressure from private labels. Procter & Gamble pushed through that with modest but consistent organic growth, disciplined pricing, and a willingness to take on trade and cost headwinds without chasing unsustainable volume.

There are still risks. Input costs can spike again, currencies can move against it, and competitors can narrow the gap in product performance. The stock isn't cheap relative to the market, and achieving single-digit organic growth will require patience.

Even so, I see a company that has proved it can navigate choppy waters without losing sight of the basics: Make better products than rivals, watch costs closely, keep learning from data, and share the rewards with its owners. That's why, after years of following Procter & Gamble, my conviction is higher now. For long-term investors who want a consumer goods anchor that actually earns its premium, I still think this stock belongs near the core of a portfolio.

Highlights

Hole 26MN-109 returned, at Goldwedge:2.83 g/t gold over 11.89 metres ("m") from 97.08 m and 9.46 g/t gold over 8.72 m from 126.00 m within the Zanzibar Formation.3.38 g/t gold over 33.31 m from 138.90 m, including 6.90 g/t gold over 12.89 m from 138.90 m within the Gold Hill Formation and Manhattan Caldera Volcanics.Hole 26MN-114 returned, along the Zanzibar Trend:15.28 g/t gold over 2.56 m from 94.27 m and 0.98 g/t gold over 23.2 m from 112.13 m, including 5.11 g/t gold over 3.38 m from 112.13 m, within the Gold Hill Formation.Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Scorpio Gold Corp. (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce results from four step-out holes of the Phase Two drill program at the Manhattan District Project ("Manhattan"), Nevada, USA: 26MN-109, 26MN-111, 26MN-112, and 26MN-114, see Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 109 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-119, for a grand total of 31,391 m. With the results herein, Scorpio Gold has reported assays on 103 of these (25MN-011 through 25MN-045, 26MN-046 through 26MN-112, and 26MN-114, totalling 29,156 m, and assays are pending from 6 holes (26MN-113, 26MN-115 through 26MN-119), totalling 2,236 m. The pending results will be reported as they become available.

In addition to the Phase Two drill program, the Company is reviewing historic core that is available at Manhattan and analyzing any historic core and pulps for silver. This new silver data from historic materials is supplementary to silver data that has been collecting since 2024 on new core drilled by the Company. Silver, or a gold equivalent ("AuEq"), has not been used or included in any results to date. Any new significant results from historic core or pulps will be reported as they become available.

"We continue to deliver solid grade hole after hole at Manhattan, and 26MN-109 demonstrates that not only are the Paleozoic rocks hosting mineralization, but the Volcanics of the Manhattan Caldera have mineralization potential, with grades of 3.38 g/t gold over 33.31 metres. While these volcanic units were typically dismissed by previous operators, USGS dating shows the Volcanics were formed well before the mineralization was emplaced, which adds more targets to the Manhattan District.

The volcanic contact near Goldwedge is now its own defined target. Hole 26MN-109 is a 50-metre step-out that carried mineralization through four separate intervals, including 2.83 g/t gold over 11.89 metres and 9.46 g/t gold over 8.72 metres and 0.68 g/t gold over 12.62 metres from 177.21 metres entirely within fractured volcanics with vein-hosted mineralization. Testing the Volcanic contact and the ground beyond it is the next step for Goldwedge," said Harrison Pokrandt, VP Exploration for Scorpio Gold.

Figure 1. Surface Plan Map of drill holes. Map Inset areas shown in Figure 2.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_002full.jpg

Goldwedge: Drill hole 26MN-109 is an approximately 50 m step-out to drill holes 24MN-009 and 25MN-048. Recent drilling at Goldwedge, including the results within, has demonstrated consistently strong mineralization:

1.69 g/t gold over 55.70 m from 118.90 m (24MN-009)0.59 g/t gold over 49.23 m from 31.69 m (26MN-048)11.84 g/t gold over 8.39 m from 106.21 m (26MN-075)1.27 g/t gold over 45.23 m from 137.95 m (26MN-086)1.17 g/t gold over 21.58 m from 111.71 m (26MN-089)2.04 g/t gold over 11.83 m from 115.67 m (26MN-091)1.60 g/t gold over 33.53 m from 6.70 m (26MN-101)2.05 g/t gold over 97.99 m from 64.16 m (26MN-110)The Gap Zone: Drill hole 26MN-112 is a 50 m step-out to hole 25MN-011 and 25MN-013. The Gap Zone is the previously undrilled area that connects Goldwedge to the Reliance Trend and ultimately, the historic West Pit. First tested in early 2025, and including the results within, significant mineralization at the Gap Zone includes:

1.24 g/t gold over 92.81 m from 3.05 m (25MN-011)1.27 g/t gold over 14.75 m from 194.95 m (25MN-013)0.80 g/t gold over 33.13 m from 118.38 m (25MN-017)0.94 g/t gold over 36.97 m from 162.95 m (25MN-020)2.21 g/t gold over 7.38 m from 222.14 m (25MN-030)Zanzibar Trend: Drill holes 26MN-111 and 26MN-114 are both approximately 50 m step-outs to multiple drill holes along the trend. These add to the significant mineralization encountered along the Zanzibar Trend, including:

3.14 g/t gold over 49.62 m from 59.95 m (25MN-044)0.66 g/t gold over 57.64 m from 29.59 m (25MN-045)2.10 g/t gold over 22.25 m from 34.14 m (26MN-063)2.74 g/t gold over 16.49 m from 45.45 m (26MN-066)12.78 g/t gold over 5.91 m from 134.51 m (26MN-067)0.69 g/t gold over 23.23 m from 4.05 m (26MN-070)2.68 g/t gold over 11.34 m from 0.76 m (26MN-071)2.77 g/t gold over 12.68 m from 58.64 m (26MN-080)Black Mammoth: Black Mammoth is a ~200+ m step-out from Goldwedge. Additional results at Black Mammoth will be reported as they become available. Significant mineralization includes:

0.75 g/t gold over 24.69 m from 230.12 m (26MN-053)1.02 g/t gold over 40.23 m from 195.69 m (26MN-057)0.62 g/t gold over 62.21 m from 230.43 m (26MN-069)6.04 g/t gold over 4.86 m from 308.23 m (26MN-072)0.58 g/t gold over 18.04 m from 311.05 m (26MN-078)0.83 g/t gold over 18.01 m from 277.68 m (26MN-092)2.56 g/t gold over 13.38 m from 293.28 m (26MN-096)All 2026 drill holes tested within and beyond the Inferred Resource Constraining Pit ("IRCP"), targeting new mineralization outside of the 2025 MRE block model, see Figures 4 and 6. For further details see "Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada" with an effective date of June 4, 2025, on Scorpio Gold's website at https://wp-scorpiogold-2025.s3.ca-central-1.amazonaws.com/media/2025/10/SGN_Manhattan_Mineral_Resource_Estimate_-_Amended_43-101.pdf.

Figure 2. Inset Surface Plan Map of the Goldwedge, Gap Zone, and Zanzibar Trend Target Areas, with drill hole traces projected to surface and result highlights noted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_003full.jpg

Drill Hole IDTarget
Azimuth / DipFrom (m)To (m)Intercept¹ (m)Gold (g/t)26MN-109Goldwedge18.5940.8422.250.22249 m246° / -83°73.2181.848.630.33

97.08108.9711.892.83

126.00134.728.729.46

138.90172.2133.313.38
including138.90151.7912.896.90

177.21189.8312.620.6826MN-111Zanzibar Trend49.3754.805.431.20507 m043° / -49°59.1964.625.430.92

110.34120.7010.360.42

152.71157.284.570.5126MN-112Gap Zone43.2859.7416.460.28258 m082° / -61°106.68114.918.230.26

128.93132.133.200.9526MN-114Zanzibar Trend64.1972.978.780.21217 m043° / -49°84.8085.390.593.80

94.2796.832.5615.28

112.13135.3323.200.98
including112.13115.523.385.11

159.90161.451.555.50

171.76176.484.722.00 ¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold.

Table 1. Results from the current batch of drill holes. Note: There is insufficient geological information to estimate a true width for the drill intercepts reported.

Goldwedge Results:
26MN-109: This drill hole contains four significant intervals hosted within Ordovician Zanzibar Formation faulted and brecciated limestones. The first interval of 0.22 g/t gold over 22.25 m from 18.59 m has multiple feeder faults noted through the interval. The second interval of 0.33 g/t gold over 8.63 m from 73.21 m contains carbonaceous fault gouge at the start of the interval with strong brecciation and veining below. The third and fourth intervals of 2.83 g/t gold over 11.89 m from 97.08 m and 9.46 g/t gold over 8.72 m from 126.00 m contain fault breccia's throughout, with feeder structures within their respective intervals. The headline interval is hosted within Cambrian Gold Hill Formation marbles, to 167.79 m, and Manhattan Caldera volcanics ("Volcanics") for the remainder of the interval (to 172.21 m). This interval of 3.38 g/t gold over 33.31 m from 138.90 m, including 6.90 g/t gold over 12.89 m from 138.90 m, is strongly faulted and brecciated throughout, with stronger silicification near the top of the interval (Figure 3) and an increase in fault gouge near the bottom. A final interval of 0.68 g/t gold over 12.62 m from 177.21 m sits entirely within strongly fractured Volcanics, with vein-hosted mineralization. See cross-section A to A' (Figure 4).

Figure 3. Drill hole 26MN-109, interval 142.89 m to 147.83 m, displaying Cambrian Gold Hill Formation brecciated and silicified marble with quartz-calcite epithermal veins.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_004full.jpg

Figure 4. Cross-section A-A', showing gold grades with reported intervals highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_005full.jpg

Gap Zone Results:
26MN-112: This drill hole contains three intervals within the Cambrian Gold Hill Formation. The first interval of 0.28 g/t gold over 16.46 m from 43.28 m is hosted in veins and breccias within both fine grained clastic meta-sediments ("Muds") and marble. The later two intervals of 0.26 g/t gold over 8.23 m from 106.68 m and 0.95 g/t gold over 3.2 m from 128.93 m are both hosted within Muds with vein-hosted mineralization.

Zanzibar Trend Results:
26MN-111: This drill hole contains four intervals within the Cambrian Gold Hill Formation. The first interval of 1.20 g/t gold over 5.43 m from 49.37 m is hosted within silicified marble and transitions to Muds, from 50.02 m to 51.97 m (Figure 5). Strong epithermal breccia and veining is noted at this lithological contact in the middle of the interval. The second interval of 0.92 g/t gold over 5.43 m from 59.19 m is like the first, with marble noted until 59.86 m followed by a brecciated gouge fault contact with Muds below. Mineralization is again concentrated at the faulted lithological contact. The later two intervals of 0.42 g/t gold over 10.36 m from 110.34 m and 0.51 g/t gold over 4.57 m from 152.71 m are hosted in strongly silicified Muds. Both intervals contain feeder veins and faults.

26MN-114: This drill hole contains six intervals within the Cambrian Gold Hill Formation. The first interval of 0.21 g/t gold over 8.78 m from 64.19 m is vein hosted within Muds and sits directly above a lithological contact with a marble unit. The second interval of 3.80 g/t gold over 0.59 m from 84.80 m is a single sample with mineralization hosted in a fault within marble. The third interval of 15.28 g/t gold over 2.56 m from 94.27 m is hosted in breccia and veins within Muds and sits directly below a lithological contact with a marble unit. The fourth and fifth intervals of 0.98 g/t gold over 23.20 m from 112.13 m, including 5.11 g/t gold over 3.38 m from 112.13 m, and 5.50 g/t gold over 1.55 m from 159.90 m are entirely within Muds units. The fourth interval has an increase in brecciation and veining from the above intervals with a subtle increase in clay alteration with depth. The fifth interval is also brecciated with silica-rich shear textures noted near the bottom of the interval above a faulted lithological change. The final interval of 2.00 g/t gold over 4.72 m from 171.76 m is within a brecciated marble unit, with both mid-interval and end of interval gouge faults concentrating mineralization. See cross-section B to B' (Figure 6).

Figure 5. Drill hole 26MN-111, interval 50.60 m to 53.13 m, displaying silicified brecciated transition zone between Cambrian Gold Hill Formation Marble and Muds.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_006full.jpg

Figure 6. Cross-section B-B', showing gold grades with reported intervals highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/308780_bd4663f29406c8db_007full.jpg

QA/QC

HQ sized diamond drill core samples were cut in halves, then bagged and secured with security tags to ensure integrity during transportation to the Elko, NV, MSALABS facility for preparation. For quality assurance ("QA"), unmarked coarse blanks, unmarked certified reference materials, and requested laboratory duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples, amounting to approximately 10% of the run of samples. Samples were analyzed for gold using a two-cycle PhotonAssayTM analysis method (~500 g) of crushed material (70% passing 2 mm). All MSALABS facilities comply with ISO 17025:2017.

About the Manhattan District

Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20 kilometers south of the operating Round Mountain Gold Mine (https://www.kinross.com/operations/default.aspx#americas-roundmountain), which has produced more than 15 million ounces of gold. For the first time, the Company has consolidated Manhattan's past-producing mines under a single entity that holds valuable permitting and water rights. Historically, Manhattan has produced approximately 700,000 ounces of gold from high-grade placer and lode operations dating from the late 1890s through to the mid-2000s.¹ The maiden mineral resource estimate (the "Maiden MRE") covering the Goldwedge and Manhattan Pit areas of Manhattan is comprised of 18,343,000 tonnes grading 1.26 g/t gold for a total of 740,000 oz contained gold in the inferred category.²

A historical mineral resource estimate (the "Historical MRE") covers the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 g/t gold for a total of 303,949 oz contained gold.³ The deposit is interpreted as a low-sulfidation, epithermal, gold-rich system situated adjacent to the Tertiary-aged Manhattan caldera in the Southern Toquima Range of Nevada. A "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current.

Notes

Adjacent Properties: The Company has no interest in, or rights to, any of the adjacent properties mentioned, including the Round Mountain Gold Mine, and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.Historical Data: This news release includes historical information that has been reviewed by the Company's qualified person. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this presentation. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Third-Party Mineral Projects: These deposits are cited solely for geological context. The Company cautions that these properties are not necessarily adjacent to, nor does the Company or have any interest in or control over them. Although certain geological features may be similar, there is no assurance that mineralization comparable to these deposits will be discovered on any of the Company's properties. Information regarding the aforementioned deposits is taken from publicly available sources and technical reports believed to be reliable but has not been independently verified by the Company. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Mineral Resource Estimate (MRE): All scientific and technical information relating to Manhattan pertaining to Maiden MRE contained in this news release is derived from the Technical Report dated April 23, 2026 (with an effective date of June 4, 2025) titled "Mineral Resource Estimate and NI 43-101 Technical Report" (the "Technical Report") prepared by Matthew R. Dumala, P.Eng (BC) of Archer Cathro Geological (US) Ltd., Patrick Loury, M.Sc., CPG (AIPG) of Daniel Kunz & Associates, Annaliese Miller, LG (WA) of Geosyntec Consultants, Inc. and Art Ibrado, PhD, PE (AZ) of Fort Lowell Consulting PPLC. The information contained herein in respect of the Maiden MRE is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Company's profile on www.sedarplus.ca.Historical MRE: A Qualified Person has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current. The Company considers the Historical MRE relevant as it demonstrates the presence of significant gold mineralization across multiple zones within Manhattan; however, its reliability is uncertain because it was prepared prior to the adoption of the current CIM Definition Standards and current QA/QC practices. The Historical MRE provides limited disclosure of assumptions, parameters, estimation methods, cutoff grades, and QA/QC protocols, and therefore these cannot be fully verified by the Company. The categories used in the historical estimate predate, and are not directly comparable to, current CIM Definition Standards, and the Company is not treating the Historical MRE as a current Mineral Resource Estimate. To upgrade and verify the Historical MRE in order to make it a current Mineral Resource Estimate, the Company would be required to undertake confirmatory drilling, modern QA/QC sampling, validation and digitization of historical datasets and updated geological modeling followed by the preparation of a new Mineral Resource Estimate in accordance with CIM Definition Standards and NI 43-101. The Company encourages readers to exercise appropriate caution when evaluating the Historical MRE.

All scientific and technical information relating to Manhattan pertaining to the Historical MRE contained in this news release is derived from the Technical Report dated May 1997 titled "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County" (the "Historical Technical Report") prepared by New Concept Mining, Inc. The information contained herein in respect of the Historical MRE is subject to all the assumptions, qualifications and procedures set out in the Historical Technical Report and reference should be made to the full text of the Historical Technical Report.

References: (1) Strachan, D. G., and Master, T. D., 2005: Update and Revision of the Gold Wedge Project Development, Nye County. Report prepared for Nevada; Royal Standard Minerals, Inc. and dated March 31, 2005; (2) Dumala, M. R., and Lowry, P., 2025: Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada. Report prepared for Scorpio Gold Corporation and dated October 23, 2025 (with an effective date of June 4, 2025); and (3) Berry, A., and Willard, P., 1997: "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County". Report prepared for New Concept Mining, Inc. and dated May 1997. Qualified Person

The scientific and technical information in this news release has been reviewed, verified and approved by Thomas Poitras, P. Geo., Chief Geologist of Scorpio Gold, a "Qualified Person", as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included review of laboratory certificates, review of field logs and chain-of-custody records, inspection of blank/standard/duplicate performance, and review of collar and down-hole survey data. No limitations or failures to verify were identified.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Connect with Scorpio Gold:
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To register for investor updates please visit: scorpiogold.com
(TSXV: SGN) (OTC Pink: SRCRF) (FSE: RY9)

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management as of the date of this news release.

Forward-looking statements in this news release include, among others, statements relating to: the timing, scope and interpretation of assay results; potential for resource growth and discovery; the potential continuity, extent, grade and characteristics of mineralization along the Reliance Trend, Black Mammoth, Gap Zone, Zanzibar Trend and Mustang Hill; the intended follow-up exploration activities and timing thereof; the Company's exploration plans and objectives; expected future drilling programmes; anticipated timing of future disclosures and announcements; and other statements that are not historical facts. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including: that the Company will be able to obtain sufficient financing to complete planned exploration activities; that the Company will be able to obtain necessary permits and regulatory approvals in a timely manner; that exploration results will be consistent with management's expectations; that general business and economic conditions will not change in a materially adverse manner; that equipment and qualified personnel will be available when required; and that the Company's interpretations of geological data are accurate. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations, which may not be available when needed or on acceptable terms and conditions; the inherent risks involved in the exploration and development of mineral properties, including uncertainties related to the interpretation of drill results and other geological data; fluctuations in commodity prices; compliance with extensive government regulation and changes in domestic and foreign laws and regulations that could adversely affect the Company's business and results of operations; uncertainties related to obtaining necessary permits and regulatory approvals; risks related to the Company's ability to retain key personnel; environmental risks and hazards; title matters and surface rights issues; competition in the mining industry; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; and other risks and uncertainties disclosed in the Company's public filings.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308780

Source: Scorpio Gold Corp

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The home improvement industry has been under pressure in recent years. Macroeconomic headwinds, most notably elevated interest rates and above-normal inflation, have hurt demand for the two largest players, Home Depot (HD +1.75%) and Lowe's (LOW +2.27%).

And these two retail stocks have underperformed the market. Home Depot shares are up 8% in the past three years (as of Aug. 7), while Lowe's shares have fallen 1%. Investors deciding between these two should focus on one key data point.

Here's one reason Lowe's may be a smarter buy than Home Depot before Aug. 19.

Image source: Getty Images.

A fresh financial update is on deck Lowe's is set to report financial results for its fiscal 2026 second quarter on Aug. 19. Besides the obvious revenue and profit figures, investors should pay attention to some important information.

Same-store sales increased 0.6% in Q1. It will be extremely encouraging to see this figure grow in the latest fiscal quarter, as it measures the performance of locations open at least 13 months.

Trends for both do-it-yourself and professional customer cohorts will be insightful. The leadership team continues to expect pro demand to outpace DIY.

Lowe's acquired Foundation Building Materials last October and Artisan Design Group in June 2025. Any commentary that management provides on cost synergies and integration progress will be valuable. This will indicate if these significant billion-dollar capital allocation decisions are bearing fruit.

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Valuation matters Of course, investors shouldn't buy Lowe's stock to front-run the financial release on Aug. 19. This sort of urgency promotes short-term thinking. In the grand scheme of things, a single quarter's numbers have minimal influence on overall valuation.

The best mentality is one that supports long-term ownership of businesses. This is the right philosophy to have. It allows compounding to work.

That being said, Lowe's is a better stock to buy right now over Home Depot for one simple reason: it's cheaper. The former trades at a forward price-to-earnings ratio of 16.5, while the latter can be bought at a 22.3 multiple. This means that the market is offering Lowe's at a 26% discount to its larger rival. That's a notable disparity when their business models are almost identical.

From fiscal 2020 to fiscal 2025, diluted earnings per share (EPS) at Lowe's grew at a much faster rate than it did at Home Depot. And looking at the next three fiscal years, the consensus view among sell-side analysts is that Lowe's will register a 6.5% annualized gain, slightly better than the expectation for Home Depot.

The market should eventually reward Lowe's with a valuation ratio that closes the gap with Home Depot.

Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Home Depot. The Motley Fool recommends Lowe's Companies. The Motley Fool has a disclosure policy.

Posted by Defense World Staff on Aug 10th, 2026

Deane Retirement Strategies Inc. boosted its holdings in shares of CF Industries Holdings, Inc. (NYSE:CF – Free Report) by 27.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,022 shares of the basic materials company’s stock after acquiring an additional 13,220 shares during the period. CF Industries comprises about 2.8% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 8th largest position. Deane Retirement Strategies Inc.’s holdings in CF Industries were worth $6,708,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in CF Industries by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,458,907 shares of the basic materials company’s stock valued at $579,062,000 after buying an additional 146,682 shares during the period. Boston Partners lifted its holdings in CF Industries by 15.3% during the third quarter. Boston Partners now owns 3,587,999 shares of the basic materials company’s stock worth $321,852,000 after buying an additional 476,769 shares during the period. Invesco Ltd. lifted its holdings in CF Industries by 12.0% during the fourth quarter. Invesco Ltd. now owns 3,570,249 shares of the basic materials company’s stock worth $276,123,000 after buying an additional 381,716 shares during the period. Ameriprise Financial Inc. boosted its position in CF Industries by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,287,256 shares of the basic materials company’s stock valued at $302,428,000 after acquiring an additional 11,792 shares in the last quarter. Finally, Northern Trust Corp boosted its position in CF Industries by 5.5% during the 4th quarter. Northern Trust Corp now owns 3,147,611 shares of the basic materials company’s stock valued at $243,436,000 after acquiring an additional 163,320 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

CF Industries Trading Up 0.0% Shares of NYSE:CF opened at $114.39 on Monday. The business’s 50-day moving average is $114.22 and its 200 day moving average is $113.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.86 and a quick ratio of 4.32. CF Industries Holdings, Inc. has a 1 year low of $75.42 and a 1 year high of $141.96. The firm has a market capitalization of $17.57 billion, a P/E ratio of 8.48 and a beta of 0.39.

CF Industries (NYSE:CF – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $5.63 by ($0.90). CF Industries had a return on equity of 24.41% and a net margin of 27.12%.The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the business posted $2.37 EPS. CF Industries’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts predict that CF Industries Holdings, Inc. will post 15.53 earnings per share for the current fiscal year.

CF Industries Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.60 dividend. This is a boost from CF Industries’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. CF Industries’s dividend payout ratio (DPR) is 14.83%.

Analyst Ratings Changes Several research firms have recently commented on CF. Royal Bank Of Canada reduced their price target on CF Industries from $125.00 to $115.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $129.00 target price on shares of CF Industries in a research note on Friday, July 24th. Wall Street Zen downgraded shares of CF Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research lowered shares of CF Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, BMO Capital Markets cut their price objective on shares of CF Industries from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.25.

Get Our Latest Stock Analysis on CF Industries

Key CF Industries News Here are the key news stories impacting CF Industries this week:

Positive Sentiment: CF Industries is beginning construction on its approximately $4 billion Blue Point blue ammonia project in Louisiana. The project could expand the company’s lower-carbon ammonia business and support long-term growth. CF Industries to begin construction of $4bn Louisiana blue ammonia project Positive Sentiment: Management is targeting approximately $3.3 billion in mid-cycle EBITDA by 2030 and indicated that higher construction costs are improving the economics of new nitrogen capacity. Tight industry fundamentals are expected to persist into 2027, potentially supporting pricing and margins. CF Industries targets $3.3B mid-cycle EBITDA by 2030 Positive Sentiment: CF Industries reportedly hinted at developing a second blue ammonia plant, potentially strengthening its competitive position as some rivals retreat from similar projects. CF Industries hints at second blue ammonia plant as rivals retreat Neutral Sentiment: The company’s earnings call emphasized greater mid-cycle earnings power and favorable nitrogen-market fundamentals, but the benefits are longer term and depend on successful project execution and sustained pricing. CF Q2 Earnings Call Highlights Higher Mid-Cycle Earnings Power Negative Sentiment: Second-quarter earnings fell short of expectations: EPS was $4.73 versus a $5.63 consensus, while revenue of $2.22 billion also missed estimates. Lower volumes and a Yazoo City outage offset stronger nitrogen pricing, putting near-term pressure on the stock. CF Q2 Earnings Miss Estimates Despite Strong Nitrogen Pricing About CF Industries (Free Report)

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.

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Micron Technology, Inc. (NASDAQ:MU) stock gained about 1% in Monday premarket trading as technology stocks moved higher ahead of the opening bell. Nasdaq futures rose 0.41%, while S&P 500 futures gained 0.17%.

The move comes as investors weigh Micron’s longer-term growth prospects against expectations for slowing memory pricing momentum and rising competition from Chinese manufacturers.

On Aug. 7, Citigroup analyst Atif Malik maintained a Buy rating on Micron but lowered his price forecast to $1,150 from $1,400. The firm expects memory pricing momentum to slow over the next year, even as DRAM and NAND prices continue to rise from current levels.

Citi Trims Micron ForecastCiti reduced its valuation multiple and lowered its fiscal 2027 and 2028 earnings estimates.

The firm expects DRAM and NAND prices to continue climbing but sees the pace of gains slowing over the next four quarters. Citi expects memory prices to peak in the second quarter of next year.

The more cautious outlook reflects concerns that the current memory upcycle could lose momentum as supply expands and pricing growth moderates.

China Competition Remains Key RiskCiti identified rising Chinese memory capacity as the biggest long-term risk to its Micron thesis.

The firm said additional NAND and DRAM supply from China could pressure Micron’s pricing power outside the U.S., even if American restrictions limit the Chinese companies’ access to the U.S. market.

Despite those risks, another market strategist sees substantial upside remaining in Micron as the memory cycle progresses.

Parker Sees Micron Doubling By Cycle EndTrivariate Research CEO Adam Parker told CNBC on Friday that Micron, NVIDIA Corp. (NASDAQ:NVDA) and other compute-related stocks could trade meaningfully higher over the next 12 months. However, he expects the group to advance in a steadier grind rather than through another sharp rally.

Parker said Micron could double by the end of the cycle because investors may already be pricing in too much earnings deterioration after the eventual peak.

He also argued that investors are focusing too heavily on Micron’s income statement and not enough on its improving balance sheet. Parker pointed to the company’s revenue outlook, high gross margins and potential to generate substantial free cash flow over the next several years.

Still, Parker said investors should manage their exposure to AI semiconductor stocks through broader diversification because volatility remains elevated.

Earnings And Analyst OutlookMicron’s next major scheduled catalyst is its earnings report, estimated for Sept. 22, 2026.

Analysts expect earnings of $31.29 per share, up sharply from $3.03 a year earlier. Revenue is estimated at $50.82 billion, compared with $11.31 billion in the year-ago period.

Micron trades at a price-to-earnings ratio of about 19.8.

Top ETF ExposureMicron also carries significant weight in several technology and semiconductor exchange-traded funds.

Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ): 8.91% State Street SPDR NYSE Technology ETF (NYSE:XNTK): 8.75% Invesco AI and Next Gen Software ETF (NYSE:IGPT): 8.71% Micron’s sizable weighting means significant inflows or outflows from these ETFs can contribute to buying or selling pressure in the stock.

Price ActionMU Stock Price Activity: Micron Technology shares were down 0.06% at $877.07 during premarket trading on Monday, according to Benzinga Pro data.

Photo via Shutterstock

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Contravisory Investment Management Inc. raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 9,354.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,152 shares of the industrial products company’s stock after buying an additional 17,960 shares during the quarter. Rockwell Automation comprises about 1.6% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 28th largest holding. Contravisory Investment Management Inc.’s holdings in Rockwell Automation were worth $8,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter valued at $281,000. AQR Capital Management LLC boosted its holdings in Rockwell Automation by 75.9% in the first quarter. AQR Capital Management LLC now owns 8,139 shares of the industrial products company’s stock valued at $2,059,000 after acquiring an additional 3,513 shares during the last quarter. Empowered Funds LLC grew its position in Rockwell Automation by 142.7% during the first quarter. Empowered Funds LLC now owns 7,305 shares of the industrial products company’s stock valued at $1,887,000 after acquiring an additional 4,295 shares during the period. Acadian Asset Management LLC increased its stake in Rockwell Automation by 233.6% during the first quarter. Acadian Asset Management LLC now owns 1,878 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Rockwell Automation in the 2nd quarter worth about $868,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analyst Weigh In A number of brokerages have recently issued reports on ROK. Evercore set a $485.00 target price on Rockwell Automation in a report on Wednesday. Barclays lifted their price target on shares of Rockwell Automation from $400.00 to $480.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $514.00 price objective on shares of Rockwell Automation in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $360.00 to $440.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Rothschild & Co Redburn boosted their price objective on Rockwell Automation from $365.00 to $378.00 in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $468.05.

View Our Latest Stock Report on Rockwell Automation

Rockwell Automation Trading Down 0.0% Shares of ROK opened at $440.95 on Monday. The stock has a market capitalization of $48.97 billion, a P/E ratio of 41.33, a PEG ratio of 2.58 and a beta of 1.54. Rockwell Automation, Inc. has a twelve month low of $328.70 and a twelve month high of $497.36. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $464.99 and a two-hundred day simple moving average of $425.51.

Rockwell Automation (NYSE:ROK – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.24 billion. Rockwell Automation had a net margin of 13.39% and a return on equity of 39.83%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 earnings per share. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. On average, research analysts anticipate that Rockwell Automation, Inc. will post 13.19 EPS for the current year.

Rockwell Automation Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a $1.38 dividend. The ex-dividend date is Monday, August 17th. This represents a $5.52 annualized dividend and a yield of 1.3%. Rockwell Automation’s dividend payout ratio (DPR) is 51.73%.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Rockwell Automation In related news, SVP Matthew W. Fordenwalt sold 377 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $460.51, for a total transaction of $173,612.27. Following the completion of the transaction, the senior vice president owned 4,437 shares in the company, valued at $2,043,282.87. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John M. Miller sold 1,054 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $426.02, for a total value of $449,025.08. Following the completion of the sale, the vice president directly owned 5,615 shares of the company’s stock, valued at $2,392,102.30. The trade was a 15.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,649 shares of company stock worth $722,119 over the last three months. Insiders own 0.76% of the company’s stock.

Rockwell Automation Profile (Free Report)

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.

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Rocket Lab (NASDAQ: RKLB) stock got crushed in July's trading and fell 36.1% across the stretch, according to data from S&P Global Market Intelligence. Over the same period, the S&P 500 was roughly flat, while the Nasdaq Composite declined 3.2%.

While there was little in the way of truly negative, business-specific news for Rocket Lab last month, the company's share price was caught up in a broader valuation pullback for space stocks. In addition to investors generally reducing exposure to the space industry, macroeconomic and geopolitical risk factors created an unfavorable backdrop for growth-dependent tech stocks.

Image source: Getty Images.

July was a tough month for space stocks While valuation movements for major indexes were relatively modest last month, some categories of growth stocks saw dramatic pullbacks. Artificial intelligence hardware companies got most of the attention in headlines, but the space industry also suffered broad-based sell-offs.

Developments in June suggested that the Iran war could be winding down, but the conflict once again became more intense in July. The war has had a significant upward impact on oil prices, and investors reacted to the possibility that a protracted conflict would push inflation higher and cause the Federal Reserve to raise interest rates in response.

Trading trends for Space Exploration Technologies also appeared to continue having a negative impact on Rocket Lab and other space stocks last month. The company had its initial public offering (IPO) on June 12 and saw big valuation gains out of the gate, but it faced substantial bearish pressures in subsequent trading -- and pullbacks extended to the broader space industry. SpaceX stock fell roughly 36.6% in the month, closely mirroring Rocket Lab's valuation decline.

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Despite the big valuation slide in July, Rocket Lab reported news in the month that showed the company was continuing to land new contracts and expand its relationships with existing partners. The company announced that it had won a $266 million contract with the U.S. Space Force, an expanded launch contract with the U.S. Space Force, and a contract to provide three additional launches to iQPS.

Rocket Lab stock has been soaring in August's trading As of this writing, Rocket Lab's share price has risen 27.5% in August's trading. With the Nasdaq Composite up 5.2% across the stretch, the stock has benefited from a bullish backdrop at large -- but the company has also announced a significant new deal.

On Aug. 4, Rocket Lab published a press release stating that it had won a contract worth up to $397 million with the U.S. Space Force to provide technologies for a program using space-based technologies to detect and monitor airborne threats. The company will be developing, launching, and operating next-generation satellites that will provide low-latency, high-bandwidth data transmissions to the Space Force. The satellite launches are scheduled to use the company's Neutron rocket, and the performance of the new platform could have substantial implications for Rocket Lab stock.

A sign marks the offices of Thermo Fisher Scientific offices in Waltham, Massachusetts, U.S., August 2, 2023. REUTERS/Brian Snyder/File Photo Purchase Licensing Rights, opens new tab

CompaniesHYDERABAD, Aug 10 (Reuters) - Thermo Fisher Scientific (TMO.N), opens new tab is eyeing a 15%-20% increase in its customer base in India over the next ​five years, betting on the growing biopharma research and ‌manufacturing ecosystem, the head of its India unit said.

The U.S.-based company, which makes lab and drug development equipment and supplies analytical instruments, antibodies, and genetic ​analysis products, said it is eyeing continued double-digit growth ​in India driven by rising demand from biopharma, semiconductor, and ⁠clean energy sectors.

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

"From a laboratory standpoint, as more laboratories create ​quality standards in line with global standards, our products will be ​found there. With more quality labs coming up, that's where our customer base is growing," Srinath Venkatesh, managing director for India and South Asia, told ​Reuters in an interview last week, but declined to disclose its ​current customer base.

The company is also counting on rising demand from the obesity-drug ‌market ⁠as more pharmaceutical companies in India work around the therapy area, he said.

Thermo Fisher serves customers globally, with the U.S. being its major market. The Asia-Pacific region accounts for about 18% of ​its revenue, with ​India among its ⁠fastest-growing markets, the company said.

"We expect continued double-digit CAGR (compound annual growth rate) growth from India. We ​have made deliberate investments in the region, more so ​than ⁠in the past," said Tony Acciarito, president for Asia Pacific, Middle East and Africa, who was also present in the interview.

The company employs ⁠more ​than 5,000 people in India and plans ​to expand its workforce, particularly in customer-facing roles, as it broadens its presence in ​the country, Venkatesh said.

Reporting by Rishika Sadam; Editing by Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Rishika leads Reuters’ coverage of India’s pharmaceutical and healthcare sector. Her reporting focuses on key themes such as the emergence of weight-loss drugs, the country’s drug regulatory framework and manufacturing quality standards, and developments shaping India’s pharmaceutical exports to major markets including the United States and Europe. She also covers the country’s rapidly growing hospital industry. With nearly a decade of experience in journalism, Rishika has previously reported extensively on Indian politics, national elections, and on social affairs and criminal justice.

SpaceX stock NASDAQ:SPCX is entering the week with a different tone after Cathie Wood’s ARK Invest bought post-earnings weakness just as one of the stock’s biggest technical overhangs began to ease.

ARK bought 114,815 SpaceX shares through the ARK Innovation ETF on August 7, worth about $13.2 million.

SpaceX surged 15.83% that day to $133.11, leaving it just below its $135 IPO price.

ARK’s timing suggests Wood sees the recent weakness as a buying opportunity, with the post-earnings sell-off and lock-up pressure potentially creating the conditions for a stronger recovery if SpaceX’s growth story stays intact.

SpaceX’s first earnings report as a listed company showed strong growth, but one spending dominated the reaction.

Second-quarter revenue jumped 92% from a year earlier to $7.8 billion, while the company posted a $541 million net loss, or 9 cents a share, narrower than analysts expected.

Total capital expenditure reached $18.4 billion, including roughly $15.8 billion tied to AI infrastructure.

The shares sank nearly 14% on August 5 as investors questioned how quickly that spending would translate into cash flow.

ARK bought after that shock. Argus Research analyst Steven Silver upgraded SpaceX to Buy from Hold on August 7, setting a $160 price target.

TipRanks reported that Silver called the quarter “strong operational performance” and said the company’s “robust growth outlook” outweighed concern over higher AI spending.

For Wood, the wager appears simple: the spending hurting the stock today may be building the businesses investors value tomorrow.

The timing of ARK’s purchase matters because August 6 had been viewed as a pressure point.

About 911.5 million SpaceX shares became eligible for trading as the first major insider lock-up expired, more than doubling the previous float.

Instead of collapsing under new supply, the stock rose 6.1% to $114.92 on Thursday before Friday’s 15.83% surge.

Morgan Stanley analyst Adam Jonas described the expiry as an opportunity to buy the stock cheaply.

Jonas sees SpaceX reaching $300 by mid-2027.

Bernstein took that view after earnings. A team led by Douglas Harned maintained an Outperform rating and $239 target, telling Business Insider it saw nothing fundamentally negative in the report.

Wall Street sees upside, but capex remains the testThe bullish case now rests on whether SpaceX can turn its investment programme into faster revenue growth.

Oppenheimer maintained an Outperform rating and $250 target after earnings.

The firm brought forward its estimate for SpaceX to reach $1 trillion in annual revenue to 2032, citing faster AI build-out and monetisation, while acknowledging elevated capex remains a major concern.

Bank of America kept its Buy rating and $235 target, forecasting about $24.5 billion of AI revenue in 2026 and saying it had become more positive on SpaceX’s positioning across key markets.

Starlink adds another pillar. William Blair analyst Louie DiPalma highlighted third-generation satellites, which SpaceX says should provide roughly ten times the capacity of earlier versions.

The caution comes from Piper Sandler. The firm kept a Neutral rating and cut its target to $140, pointing to future lock-ups, rising 2027 capex and uncertainty around cancellable AI cloud contracts.

On July 21, Health and Human Services Secretary Robert F. Kennedy Jr. told reporters, “We do have the outbreak under control.” At that moment the multistate cyclosporiasis outbreak tied to iceberg lettuce had sickened roughly 1,600 people across five states, with 94 hospitalizations and no deaths. Three weeks later, the case count has nearly quadrupled, two deaths have been recorded, and a national salad chain has filed for bankruptcy. The gap between the podium and the produce aisle has rarely been wider.

What Kennedy Said, and the Wrinkle Behind It Kennedy added that “We have an extensive forensics, epidemiological forensics, and we’ve identified the source of the outbreak. We and the companies that are involved have implemented a recall.” The recall referenced iceberg lettuce from Taylor Farms de Mexico, pulled July 17, 2026. But days before Kennedy spoke, the FDA had acknowledged a Taylor Farms sample came back a false positive, muddying the “identified” claim in real time. Subsequent CDC and FDA updates converged back on Taylor Farms. The confidence did not.

What the Numbers Actually Show The CDC’s August 5 update logged 6,358 illnesses across 15 states, at least 278 hospitalizations, and two deaths, both in Michigan, with onset dates running June 22 through July 31. Separately, the FDA has estimated “at least 10,000” sickened, and more than 25,000 Cyclospora infections have been logged nationally this year, more than five times the prior record set in 2019, a broader tally that includes clusters unrelated to this outbreak.

The Salad Chain That Didn’t Serve the Lettuce Here is the twist: none of the hardest-hit healthy chains used the recalled iceberg. They got wrecked anyway. Salad and Go filed for Chapter 11 on August 5, closing all locations and citing the outbreak as an accelerant to existing pressures. Chopt saw traffic fall 24% on July 18, the day after the FDA announcement (Placer.ai via CNBC). Sweetgreen (NYSE:SG) said consumer concerns produced roughly a 6-percentage-point drag on July same-store sales; CEO Jonathan Neman noted on X that the chain has never served iceberg lettuce and sources only U.S.-grown greens. On August 6, Sweetgreen cut full-year guidance to same-store sales of -8.0% to -7.0% and adjusted EBITDA of -$27.0 million to -$23.0 million. The stock is down 35.41% since July 10.

The Contrast: Taco Bell and Chipotle Yum Brands (NYSE:YUM | YUM Price Prediction), whose Taco Bell was the only major chain actually linked to the recall, took an early hit, with foot traffic down 20.8% on July 23 versus comparable Thursdays. CEO Chris Turner said on the Q2 call that “Elevated uncertainty initially weighed on consumer demand. Since then, consumers have become increasingly aware that this is an industry-wide issue, not an issue specific to Taco Bell.” Taco Bell still delivered 7% same-store sales growth. Chipotle Mexican Grill (NYSE:CMG) CFO Adam Rymer flagged “a softening, call it about 200 basis points or so” in late July from cyclospora fears, separate from Chipotle’s salmonella recall tied to jalapenos that sickened roughly 300 people.

The Category Absorbs the Blow NielsenIQ pegged fresh lettuce unit sales down 9% for the week ending July 18 and prepackaged salad dollar sales down 14% for the four weeks ended July 25. Sysco stopped buying Mexican iceberg entirely, even as CEO Kevin Hourican called Taylor Farms a “high quality, high integrity shop.” Local growers benefited: farmers-market sales rose 15% to 30% in some markets (WSJ, via Forbes).

Stabilizing signals are emerging. Michigan lifted its precautionary advisory on bagged salad mixes on August 6 as new infections slowed. But three weeks after a Cabinet secretary declared the outbreak “under control,” one chain is gone, another has slashed guidance, and the produce aisle is still recovering trust it did not lose on its own.

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The public debut of Space Exploration Technologies (SPCX +15.83%) in early June marked one of the most ambitious market entries in history. While SpaceX stock surged during its opening sessions, shares have retreated sharply over the last month -- trading well below the post-IPO peak.

SpaceX's first earnings report as a public company offers a clear window into whether the pullback has created an attractive entry point or whether further proof is still required.

Image source: Getty Images.

How were SpaceX's earnings? SpaceX's second-quarter numbers show a business accelerating across all three core segments while still incurring significant investment costs. Total revenue surged 92% year over year to $7.8 billion. The space segment generated $962 million, a 29% increase from the prior-year period. However, operating losses widened to $542 million compared to negative $369 million a year earlier.

Connectivity, driven by the Starlink broadband network, remained SpaceX's largest and most profitable engine. Revenue reached $4.3 billion, up 66% year over year. Meanwhile, operating income expanded 79% to $1.6 billion, underscoring improving scale as the subscriber base doubled to 12 million. Average revenue per user (ARPU) held steady at $66, while new enterprise and government contracts provided additional lift to the segment's consumer base.

The artificial intelligence (AI) infrastructure division delivered the most dramatic growth for SpaceX. Revenue soared 247% year over year to $2.6 billion, with the bulk coming from cloud and compute services as well as additional subscriptions to Grok and X. Operating losses stood at $1.3 billion, a modest improvement from the prior quarter, though still substantial.

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What should investors watch next? Perceptions of SpaceX will hinge on two interlocking variables: the scale and efficiency of capital expenditure (capex) and the trajectory of AI-driven revenue. Capex during the second quarter was dominated by the AI segment at nearly $16 billion, far exceeding the combined outlays across launch and connectivity.

Investors will demand evidence that this spending translates into durable utilization rates and expanding profit margins, rather than an open-ended infrastructure build. In the upcoming quarters, SpaceX will need to show whether AI revenue can sustain its current trajectory as new cloud agreements ramp up and as additional capacity comes online. Equally important will be any deceleration in connectivity growth or further narrowing of losses in the launch segment, both of which will determine how quickly overall profitability can emerge.

History offers a cautionary tale for what typically follows mega-IPO stocks. Over the past several decades, the median first-year maximum drawdown has run between 42% and 55%, with median 12-month returns often negative relative to the broader market. The five largest IPOs by capital raised delivered one-year returns ranging from single-digit gains to declines of 37%. Notably, most of the stocks in this cohort compounded strongly in the years ahead.

Staggered lockup releases usually coincide with elevated selling pressure and add an extra layer of volatility in the months that follow early earnings reports. Unless SpaceX posts sustained outsize growth that repeatedly exceeds expectations, the combination of ongoing share supply and the historical post-IPO digestion period points toward further choppiness and the risk of additional downside over the next year.

Is SpaceX stock a buy right now? While SpaceX's connectivity business is already profitable and growing solidly, and the launch franchise retains competitive advantages over peers in the space exploration industry, the AI contribution remains in its early stages.

SpaceX trades at a price-to-sales (P/S) ratio of 73, a frothy multiple relative to current run rate revenue. Even after the post-IPO correction, the company's $1.4 trillion market cap clearly embeds lofty assumptions about the AI segment's ability to scale as big tech accelerates infrastructure spend.

Until successive earnings reports illustrate that capital intensity is moderating and that AI revenue is converting into sustainable operating leverage, the stock is at risk of continuing to price in a best-case scenario. Smart investors should exercise caution rather than aggressively buying the dip right now. In my view, SpaceX still has several meaningful milestones to prove before the valuation can be fully justified.

Premium Brands TSE: PBH said its second-quarter results marked an inflection point as the company began to generate stronger free cash flow from a multiyear capital-spending program designed to expand its manufacturing footprint and U.S. market capacity.

The company reported record sales from continuing operations of C$2.4 billion for the quarter, up C$495 million, or 26.3%, from the second quarter of 2025. Adjusted EBITDA rose 29.5% to C$225 million, while adjusted earnings from continuing operations increased 37.2% to C$79.6 million, or C$1.53 per share.

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Management said the results reflected progress in leveraging capacity created through a capital investment program that began in 2022. The program involved more than C$1.1 billion in project capital expenditures and was intended to transform the company’s production network and strengthen its ability to serve U.S. customers.

U.S. Growth and Specialty Foods Expansion The company said consumer demand for cleaner, healthier and more nutrient-dense food products is creating opportunities in categories including meat sticks, cooked proteins, sandwiches, artisan breads and kettle-cooked meal solutions. Management contrasted that demand with contracting demand for more traditional, highly processed consumer packaged goods.

Specialty Foods’ core U.S. growth initiatives generated organic volume growth of 10.7% during the quarter. Including acquisitions, the group’s U.S. sales increased by C$432.2 million to C$1.2 billion, representing 71.2% of its second-quarter sales, compared with 63.5% a year earlier.

Will Kalutycz, Premium Brands’ CFO, said acquisitions accounted for C$354.5 million of the company’s overall sales increase. Organic volume growth contributed C$74.5 million, while selling-price increases, primarily related to beef-based products, added C$59.9 million.

Within the company’s U.S.-focused operations, the Protein Group recorded 25% organic volume growth, driven by meat snacks and protein products. That performance was partially offset by lower volumes in the Custom Culinary Solutions Group after a customer’s large limited-time sandwich promotion ended in the fourth quarter of 2025. Replacement promotions are not scheduled to begin until early next year, management said.

The company also highlighted its meat-stick business, which grew 83.2% in the second quarter. Premium Brands recently launched its Italia line of shelf-stable, dry-cured meat sticks, produced at its Yorkton, Saskatchewan, facility.

Capital Program Nearing Completion Management said the recently added capacity was built for emerging food categories rather than legacy products. Premium Brands expects to continue onboarding new business and customers over coming quarters, with the additional volume expected to improve free cash flow, margins and returns on invested capital.

The company said it has C$41.6 million remaining to spend on its C$1.1 billion investment plan, which it said will create more than C$2 billion in new sales capacity. During the second quarter, capital expenditures from continuing operations totaled C$59 million, including C$18.3 million tied to the investment plan, C$21.6 million in other project capital expenditures and C$19.1 million in maintenance capital expenditures.

Premium Brands said startup and restructuring costs have declined materially as most capacity expansion projects reach base operating parameters. Kalutycz said the company expects those costs to continue declining in the second half of 2026.

Over the next 12 months, the company expects to close four older facilities while commissioning two new plants, one in the Greater Toronto Area and another in Auburn, Maine. Management said the plant rationalization is expected to create productivity improvements and scale-related efficiencies.

Cash Flow, Debt Reduction and Outlook Premium Brands generated C$68 million in net free cash flow during the second quarter, its first positive quarterly net free cash flow after four years of negative results, according to management. The company expects that trend to accelerate during the second half as it further utilizes new production capacity.

The company’s debt-to-EBITDA ratio declined to 3.8-to-1 from 4.3-to-1 at the end of 2025. Management said both its senior debt and total debt ratios are now within its short-term objectives of 3-to-1 or better for senior debt and 4-to-1 or better for total debt. It expects to reach its longer-term total debt-to-EBITDA target of 3-to-1 or better by early to mid-2027.

Net earnings totaled C$70.9 million, up from C$27.9 million a year earlier. The result included a C$73.9 million gain from the sale of Shaw Bakers and a C$30 million fee received from Clearwater related to certain lobster assets and sales. Those items were partly offset by a C$53.1 million loss related to the shutdown of a value-added beef-processing facility in Ontario and the company’s exit from certain unprofitable sales.

Premium Brands revised its 2026 guidance to sales of C$9.1 billion to C$9.3 billion and adjusted EBITDA of C$840 million to C$870 million. Kalutycz cited delays in product launches, a customer’s decision to shift several large promotions from the second half of 2026 to early 2027, the exit from unprofitable beef-related sales, and weakening consumer demand in certain foodservice segments.

Despite the revised outlook, management said it still expects strong growth in the second half of 2026 and remains on track to meet or exceed its five-year targets of C$10 billion in sales and C$1 billion in EBITDA by the end of 2027.

About Premium Brands (TSE:PBH)Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State. The company's business segments include Specialty Foods, Premium Food Distribution, and Corporate. The Specialty Foods segment consists of its specialty food manufacturing businesses, which contributes about two-thirds of the group revenue; the Premium Food Distribution segment consists of the company's distribution and wholesale businesses; the Corporate segment includes the company's head office activities along with its finance and information systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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