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Oddity Tech is downgraded from buy to hold due to unresolved customer acquisition cost headwinds and weak first-order growth. Q1 2026 revenue declined 26% y/y, with first orders down ~50% and margins deteriorating; Q2 guidance suggests continued revenue contraction. The investment thesis now hinges on whether CPA normalization is temporary or structural, as elevated CPA undermines the core acquisition engine.

June 15, 2026 07:00 ET  | Source: USA Rare Earth, Inc.

Expected to position USA Rare Earth among the few companies outside China capable of producing separated heavy rare earth oxides — including dysprosium, terbium and yttrium

Extends the Company’s integrated platform of proprietary technology and capabilities spanning mining, processing and separation, metals, alloys and magnets

WHEAT RIDGE, Colo., June 15, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USAR”, “USA Rare Earth”, or the “Company”), a rare earth, critical minerals and advanced materials company, today announced the commissioning of its hydrometallurgical demonstration facility in Wheat Ridge, Colorado.

First production of separated oxides is targeted for the third quarter of 2026 and is expected to make USA Rare Earth one of the few Western companies capable of delivering strategic heavy rare earth oxides at commercial quality — the latest milestone in USA Rare Earth’s mission to build a global leader in rare earths, critical minerals and advanced materials.

USAR is building a fully integrated, global rare earth and critical mineral value chain, with embedded optionality for both supply and offtake at each link in the chain. Oxide production is expected to be supplied from a growing number of sources including Serra Verde,1 the only scaled producer of all four magnetic rare earths — including heavy rare earths — outside of Asia; Round Top, one of North America’s richest known sources of heavy rare earths with production targeted for late 2028; and other potential third-party sources. The resulting oxides are expected to feed Less Common Metals (LCM), the Company’s subsidiary, one of the few commercial-scale metal, alloy and strip cast producers outside of China, which in turn is expected to supply USA Rare Earth’s permanent magnet business.

“The hydromet facility is the latest example of the proprietary technology and capabilities USA Rare Earth is scaling across the entire value chain,” said Barbara Humpton, Chief Executive Officer of USA Rare Earth. “From access to the limited supply of heavy rare earth feedstock, to processing and separation we are advancing at Wheat Ridge and through our planned investment in Carester, to the metals and alloys produced at LCM, to the permanent magnets we manufacture in the United States, we are rapidly building the only fully integrated rare earth platform of its kind outside China — moving deliberately and at speed to be the partner of choice in the materials the most critical industries depend on.”

The facility has commenced an initial campaign to de-risk three processing flowsheets in parallel: ore from Round Top, third-party mixed rare earth carbonate (MREC) feedstock — including material from Serra Verde’s Pela Ema mine — and rare earth magnet swarf recycling. Insights from the campaigns are expected to underpin the Round Top Definitive Feasibility Study, on track for Q4 2026 completion and Q1 2027 publication, and to guide commercial engineering of the planned on-site Round Top processing facility and the Company’s anticipated third-party MREC processing and magnet swarf recycling facility.

“Very few companies outside China have proven they can produce separated oxides of neodymium and praseodymium (NdPr), dysprosium (Dy), terbium (Tb) and yttrium (Y) at commercial quality, and the best practices we have developed in-house are expected to put us in that small group,” said Dr. Alex Moyes, Senior Vice President of Mining and Processing at USA Rare Earth. “The work at Wheat Ridge can help convert proven chemistry into bankable feasibility studies and move us closer to producing the rare earth materials America’s most critical industries depend on — from mine to magnet.”

Program Scope and Objectives

The demonstration program is structured as a series of campaigns designed to systematically de-risk USA Rare Earth’s proprietary processing flowsheets across three strategic areas:

Round Top ore processing. Validating and optimizing the hydrometallurgical flowsheet for ore from Round Top — one of the most significant heavy rare earth and critical mineral deposits in the United States — to produce separated oxides of Dy, Tb, Y, hafnium (Hf), zirconium (Zr) and other strategic elements.Third-party feedstock processing. Producing separated NdPr, Dy, Tb and Y oxides from externally sourced feedstocks — including material from Serra Verde’s Pela Ema mine — supporting potential toll processing and offtake partnerships.Magnet swarf recycling. Recovering NdPr, Dy and Tb from neodymium-iron-boron (NdFeB) magnet swarf, expanding feedstock sources and reinforcing the circularity of the Company’s value chain.
Plant Operations

The Wheat Ridge plant is fully automated and instrumented for real-time process monitoring across all unit operations, positioning it among the most advanced facilities of its kind in North America. A multi-stage solvent extraction circuit, live SCADA monitoring and an on-site analytical laboratory enable rapid feedback loops and data-driven adjustments, supported by a team of 28 engineers, scientists and technicians operating in rotating shifts. Process data will also serve as the foundational dataset for a digital twin development program with the U.S. Department of Energy’s National Energy Technology Laboratory (DOE NETL), enabling virtual simulation of the full processing flowsheet and accelerating the path to commercial deployment.

About USA Rare Earth, Inc.

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys, its magnet manufacturing capacity in Stillwater, Oklahoma, the Pela Ema mine in Brazil (subject to closing the Serra Verde Group transaction) and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and industrial sectors. For more information, visit www.usare.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include those relating to the objectives, scope, and anticipated benefits of the demonstration plant program and its constituent campaigns; the Company’s ability to validate and optimize its processing flowsheets; the development of bankable feasibility studies; the planned digital twin development program with DOE NETL; the Company’s plans for a commercial processing facility; and the Company’s global value chain strategy. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “growth,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “propose,” “should,” “target,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements are subject to risks and uncertainties and potentially inaccurate assumptions that could cause actual results to differ materially from the Company’s expectations, including without limitation: the Company’s ability to execute its business plan, including development of the Round Top deposit and its processing and manufacturing facilities; the timing and advancement of expected business milestones; the significant long-term and inherently risky investments the Company is making in mining and manufacturing facilities; the Company’s ability to obtain additional or replacement financing as needed; risks that the proposed transactions with Serra Verde Group, Carester SAS and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; the Company may not realize the anticipated benefits of its proposed and prior acquisitions, including expected synergies, financial performance, estimated EBITDA and, in the case of Serra Verde Group, integration of operations, on the anticipated timeline or at all; the ability of the Company’s Stillwater facility or other future magnet manufacturing facilities to commence commercial operations on the timing and with the production capacity anticipated or at all; the Company’s limited operating history; risks that the Company may experience delays, unforeseen expenses, increased capital costs, and other complications in operating its business; potential dilution to existing stockholders and adverse effect on the Company’s stock price if the Company issues additional common stock or equity-linked securities; the volatility of the Company’s stock price; the Company’s ability to satisfy project milestones and other conditions to disbursement under the Company’s financing arrangement with the Department of Commerce (“DOC”) on the anticipated timeline or at all; the Company’s dependence on continued governmental support for the DOC financing transactions, which remains subject to changes in laws, regulations, administrations and appropriations; extensive affirmative and negative covenants, domestic content and national security guardrail provisions and ongoing reporting obligations in the DOC financing agreements that restrict the Company’s operational and financial flexibility; the risk that defaults under the DOC funding agreements could trigger cross-defaults across the Company’s financing arrangements; the impact of the DOC’s equity interest in the Company on the Company’s ability to pursue strategic transactions and on the Company’s relationships with customers, suppliers, partners and other counterparties; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow the Company to develop and commercially operate the Company’s Stillwater facility and other facilities; the Company’s ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of the Company’s products, including without limitation as a result of dumping, predatory pricing and other tactics by the Company’s competitors or state actors or the overall competitive environment; the Company’s ability to achieve positive cash flow or profitability or the ability to access cash flow within the Company’s corporate structure due to restrictions contained in the Company’s financing agreements; the Company’s ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of the Company’s neo magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which the Company operates or sells products or otherwise; war, terrorism, natural disasters or public health emergencies; the Company’s ability to retain or recruit key personnel; environmental, health and safety regulations; and the Company’s ability to comply with requirements for federal, state and local government incentives and financing.

Additional risks and detailed information regarding factors that may cause actual results to differ materially has been and will be included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and subsequent filings. Any forward-looking statements speak only as of the date of this press release (or such other date as is specified in such statements), and the Company undertakes no obligation to update any forward-looking statements as a result of new information or future developments except as required by law.

Investor Contact

JB Lowe

Vice President, Investor Relations

USA Rare Earth, Inc.

[email protected]

Media Contact

Collected Strategies

[email protected]

____________________________

1 Pending closing of the Company’s proposed acquisition; sourcing of feedstock to be completed via a third-party special purpose vehicle capitalized by a U.S. Government agency as well as private capital sources.

HomeStock IdeasLong IdeasTech 

SummaryAstera Labs (ALAB) is positioned to benefit as networking becomes the next AI data center bottleneck, with a 'Buy' rating justified by robust growth prospects.ALAB's product suite—especially the Scorpio X-Series and P-Series—targets hyperscaler demand for composable, high-performance networking, unlocking significant TAM expansion.I anticipate revenues to exceed $5 billion by 2030, outpacing consensus due to rapid adoption of Scorpio and platform lock-in via COSMOS telemetry.Despite high valuation and execution risks, ALAB's critical role in AI infrastructure and sustained growth potential warrant a long-term investment.Looking for option income ideas that focus on capital preservation? I offer this and much more at my exclusive investing ideas service, Option Income Builder. Learn More »Sitewide Sale 2026: Get 20% Off Tomasz Śmigla/iStock via Getty Images

In a recent article on Marvell (MRVL), I made the case that networking is slowly becoming one of the largest bottlenecks within the modern AI data center.

As AI workloads transition from training towards

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ALAB either through stock ownership, options, or other derivatives. 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.

Following commercial space flight giant Space Exploration Technologies Corp.‘s (NASDAQ:SPCX) successful IPO, CEO Elon Musk thinks it may be time to make good on a promise from 2015.

Elon Musk Wants Volcanic LairIn a post on X on Sunday, Musk quoted a post he made in 2015 as SpaceX was trying to land the Falcon 9 rocket upright, which the company eventually did in December 2015. “If this works, I’m treating myself to a volcano lair. It’s time,” Musk said in the post.

“Time to get that volcano lair I've always wanted,” Musk said, sarcastically saying that there were options “in the "Beyond" section” Bed Bath & Beyond, Inc. (NYSE:BBBY).

SpaceX IPO Makes Elon Musk A TrillionaireSpaceX closed its first session at $160.95, up 19%, leading to a valuation of $2.1 trillion for the company. SpaceX was already worth more than 12 aerospace and defense companies listed on the S&P 500 index.

SpaceX IPO Draws CriticismThe milestone was also criticized by Sen. Elizabeth Warren (D-Mass.), as well as Gov. Gavin Newsom (D-CA), who said that Americans were "struggling" to get everyday goods and gas, while Musk became a trillionaire.

Price Action: SpaceX shares were up 3.67% to $166.85 during the after-hours trading session on Friday.

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Scott Morton, standing in the brown jacket on the right, said wealth managers reached out to him before SpaceX's IPO. Revel Scott Morton grew up in Wisconsin. He wasn't tracking Wall Street.

"My family was not super financially literate," he said. "I didn't hear about the stock market growing up."

Now, the money managers have found him.

Morton, the founder and CEO of Los Angeles-based software company Revel, said he has been getting the hard pitch from wealth managers eager to court him ahead of SpaceX's blockbuster initial public offering. In the past couple of months, a prominent firm sent a handwritten letter to his home asking to represent him, while another sent swag and a backpack. More have slid into his LinkedIn DMs.

The wooing attempts are all because he worked at SpaceX for nearly a decade.

Morton — who started as a SpaceX intern before rising to a software engineering manager on its Starship spacecraft project — is part of a class of current and former workers at Elon Musk's rocket company who were paid partly in equity.

That equity is now a hot commodity. SpaceX went public Friday in the largest IPO in history, with its valuation surging above $2 trillion in early trading.

"It's a tremendous outcome, specifically for all of the engineers, technicians, and even the baristas," he told Business Insider before the IPO. "Now all of the hard work is going to pay off for a lot of people."

IPOs and their mafia-making influenceThere is power in being early to a company.

Famously, David Choe, a graffiti artist commissioned in 2005 by Facebook to paint murals at its headquarters, asked to be paid in stock instead of the $60,000 he was offered for the job. When the company went public years later, those shares were valued at $200 million, CNBC reported.

PayPal created its own mythology. The company's 2002 IPO and eventual $1.5 billion sale to eBay helped launch the careers of tech power players now known as the PayPal mafia, including Musk, Peter Thiel, Reid Hoffman, and David Sacks.

Morton said SpaceX is generating a similar movement among former staff, who are using their money, experience, and networks to build companies of their own.

"It's already happening," he said. "The mafia is already there."

Fast cars, financial freedom, shooting stars

Morton said the SpaceX IPO could become a mafia-making event, like PayPal's 2002 IPO and sale.  IPO Morton said he still holds SpaceX stock. He said he previously sold some through SpaceX-organized secondary sales, but retained as much as he could. He declined to discuss the specific size of his potential payday.

Other former SpaceX employees have been joking about early plans for their newfound cash, Morton said, including "fast cars" and what the IPO could mean for the Los Angeles high-end housing market.

Morton said he hadn't planned any large celebration for IPO day. He has been too focused on his own startup, he said.

Revel builds software for controlling and testing hardware — the kind of behind-the-scenes infrastructure used in rocket engine test sites, nuclear reactors, industrial systems, and other places where tech and the physical world collide. The company said in February that it had raised $150 million in Series B funding.

Morton said the SpaceX IPO could also give companies like his a halo effect: more attention on hard tech, more investor interest, and more credibility for startups founded by SpaceX alums.

Still, he said he does not expect the IPO to trigger a mass exodus from SpaceX. Many employees he's kept in touch with remain committed to the company's mission — especially the goal of establishing a moon base, he said.

For former employees, the IPO is an opportunity to go on a bit of a spending spree.

"It generically sets people up to have financial freedom," he said. "People will feel like they have the buffer they need to do something adventurous."

For the ones like Morton, they'll have a wealth-manager-branded backpack to take on that adventure.

Read next

Ben Shimkus You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41. 

SpaceX Elon Musk Wealth More Finance IPO Stocks

The broader market rally gives the rocket and AI company's shares a boost, following a stellar trading debut last week.

Item 1 of 2 A live feed shows SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. REUTERS/Jeenah Moon

[1/2]A live feed shows SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab

SummaryCompaniesUpcoming events include options trading, index inclusionAlso upcoming is expiration of investor holding periodsAnalysts debate SpaceX valuationThey cite volatility and Elon Musk's influenceNEW YORK, June 15 (Reuters) - The SpaceX (SPCX.O), opens new tab IPO went off with a bang. Now investors turn their attention to a jam-packed calendar ahead for Elon Musk's rocket, internet and AI firm that may bring volatility.

Just in the next ​two months, the sixth-largest U.S. listed company by market value will have a handful of events – ranging from the listing of options to the expiration of investor holding ‌periods to index inclusion – that could help dictate trading in its shares and the broader market.

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Friday's launch of the largest-ever IPO was well managed from start to finish, investors said, drawing strong orders from retail and institutions alike and benefiting from Musk's reputation for the Midas touch. But debate continues over what the right price for the stock is and to what extent SpaceX's savvy marketing matches with its fundamentals.

"You have to look at it ​this way: are people actually investing in SpaceX or trading SpaceX? I am of the belief, and this is also other money managers that I'm talking to, that it's ​the latter," said Todd Schoenberger, chief investment officer at Crosscheck Management in Washington, D.C.

A bubble chart showing the relative size of the biggest IPOs in the U.S. and their earnings at the time of debutHere are some events that could help shape that argument over ⁠coming weeks:

OPTIONS TRADINGOptions on SpaceX are set to begin trading as soon as Tuesday, with early activity expected to be heavy, volatile and likely expensive.

Options, which give holders the right but not the ​obligation to buy or sell shares at a predetermined price within a certain period, offer investors a low-cost way to play a company's stock. If SpaceX behaves like Musk's Tesla (TSLA.O), opens new tab, it would be ​almost twice as volatile as the average stock, likely driving heavy options activity.

STOCK SALE RESTRICTIONS ENDSpaceX plans to allow a large portion of its shares to become eligible for resale before the usual six-month restriction period post-IPO, under a staged system linked to the company's performance, a company filing showed.

The approach, designed to avoid a large wave of shares hitting the market at once, helps make post-IPO trading more orderly - but at the cost of ​potential volatility spread across the six-month period rather than a single day. Some brokers are also imposing holding periods for shares acquired on Friday.

"We got shares of SpaceX for some of our ​clients (on Friday), and there's a 31-day minimum holding period," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "So I think once some of those minimum holding periods end, you could see some ‌selling pressure."

THE ⁠GREEN SHOEThe IPO includes a so-called greenshoe option, a standard feature of most large U.S. stock market listings that acts like a safety valve that keeps the stock price from going crazy one way or another in its first month.

SpaceX gave Morgan Stanley (MS.N), opens new tab the option to purchase an additional 15% of its stock at the IPO price of $135 a share for up to 30 days – or about 83 million in additional shares on top of the 555.6 million SpaceX already sold.

Those additional shares, however, have not yet been issued by the company, so the bank has to effectively sell them ​on the open market through a short position ​and buy them from the company later.

Table on how the Greenshoe option work after the SpaceX IPOEARNINGSSpaceX ⁠has not set a date for its next earnings report but the event, expected in the next few months, will likely renew the discussion of whether a company with a $4.94 billion loss last year on $18.7 billion of revenue can justify a $2 trillion valuation.

"You can make a lot of arguments ​that SpaceX is severely overvalued. ... SpaceX is valued based on Elon Musk's reputation," Dollarhide said.

INDEX INCLUSIONThe company is due to be added this ​month to indexes such as ⁠the Nasdaq 100 and some MSCI and Russell indexes tracking large-cap stocks. Some funds will be required to buy, once that happens, and investors are expecting those additions to drive share-price gains.

A related debate centers on whether so-called passive investors appreciate the risks of these decisions and how that may play out for the indexes down the road.

"Most people will end up owning SpaceX without ever deciding to, through ⁠a Nasdaq or ​Russell fund, a target-date fund, or the index sleeve of their 401(k). That's the real democratization here," said Kevin ​Moss, co-creator of the Private Shares Fund. "A name that used to be walled off in private rounds shows up in mainstream retirement accounts. The flip side is you own it whether or not you have a view on the valuation."

Reporting by Caroline Valetkevich, Suzanne McGee and Shashwat Chauhan; Editing by Colin Barr and Will Dunham

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

Tradr ETFs launched SPCM and SPCG, providing traders with 200% leveraged long and short exposure to SpaceX, one of the most anticipated IPOs in market history.

SPCM and SPCG give traders 200% bullish and bearish exposure to the most anticipated IPO in market history

, /PRNewswire/ -- Tradr ETFs, a provider of ETFs designed for sophisticated investors and professional traders, today announced the launch of two leveraged ETFs tied to SpaceX, offering traders access to both bullish and bearish leveraged exposure on the newly public company.

The new funds target the following daily investment results, before fees and expenses:

Active traders need tools that allow them to express either view with precision. Tradr 2X Long SpaceX Daily ETF (Cboe: SPCM) – seeks 200% of the daily performance of SpaceX (Nasdaq: SPCX) Tradr 2X Short SpaceX Daily ETF (Cboe: SPCG) – seeks -200% of the daily performance of SpaceX (Nasdaq: SPCX) "SpaceX is one of the most anticipated public offerings of our generation, and opinions on the stock are likely to be just as strong as those on the company," said Matt Markiewicz, Head of Product and Capital Markets at Tradr ETFs. "Some traders see a transformational business with enormous growth potential, while others see a stock that may face high expectations and significant valuation questions. We launched both SPCM and SPCG because active traders need tools that allow them to express either view with precision."

For detailed information on Tradr ETFs and the significant risks involved with leveraged ETFs, please visit www.tradretfs.com.

About Tradr ETFs
Tradr ETFs are designed for sophisticated investors and professional traders who are looking to express high conviction investment views. The strategies include leveraged and inverse ETFs that seek short or long exposure to actively traded stocks and ETFs.

IMPORTANT RISK INFORMATION

Tradr ETFs are for sophisticated investors and professional traders with high conviction views and are very different from most other ETFs. The Funds are intended to be used as short-term trading vehicles and pursue leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund's return as much as, or more than, the return of the underlying security.

Investors in the fund should: (a) understand the risks associated with the use of leverage; (b) understand the consequences of seeking inverse and leveraged investment results; (c) for short ETFs, understand the risk of shorting; (d) intend to actively monitor and manage their investment. Fund performance will likely be significantly different than the benchmark over periods longer than the specified reset period and the performance may trend in the opposite direction than its benchmark over periods other than that period.

Leverage increases the risk of a total loss of an investor's investment, may increase the volatility of the Funds, and may magnify any differences between the performance of the Funds and their reference security. The Funds seek leveraged investment results for a specific period (daily, monthly or quarterly). The exact exposure of an investment in the Fund intra-period will depend upon the movement of the reference security from the end of the prior period until the time of investment by the investor.

The Fund will not attempt to position its portfolio to ensure it does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, investors in a Fund that seeks two times daily performance would lose all of their money if the Fund's underlying security moves more than 50% in a direction adverse to the Fund on a given trading day.

ETFs involve risk including possible loss of the full principal value. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus. Past performance does not guarantee future results.

ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds. This and other important information about the Fund is contained in the Prospectus, which can be obtained by visiting www.tradretfs.com. The Prospectus should be read carefully before investing.

Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments or its Tradr ETFs. AXI000961

SOURCE Tradr ETFs

SummaryCompaniesSmall investors can face bans from future IPOs for early resaleHedge funds that generate bank fees can flip with no penaltiesRetail investors get about 20% of SpaceX initial public listingNEW YORK, June 15 (Reuters) - Individual investors in the SpaceX (SPCX.O), opens new tab IPO hoping to quickly sell their shares for a profit face stricter conditions than large funds over the ​practice known as flipping - and risk losing access to hot future listings such as OpenAI and Anthropic if they run afoul of these limits.

Platforms like ‌Fidelity, Robinhood, E*TRADE and SoFi restrict small investors from selling shares within 15 to 30 days of trading. Penalties range from temporary bans to participate in future IPOs to a permanent platform ban.

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That means penalties for those who were seeking to sell on Friday, when SpaceX rose as much as 30% in its debut before closing up 19% at $160.95.

To avoid penalties, investors may miss key windows of predicted demand in the first two ​weeks of trading, when major indexes can incorporate the stock.

Hedge funds and asset managers such as BlackRock and Citadel, which have easier access to IPO shares at the ​offer price, in some cases trade immediately to profit from the initial appreciation known as the “IPO pop.” Citadel and BlackRock did not immediately respond ⁠to a request for comment.

“It’s very common for brokerage firms to put restrictions on flipping for retail investors,” said IPO expert Jay Ritter of the University of Florida. “But if the hedge ​funds are profitable enough customers (for banks), they can do whatever they want."

The asymmetry between small investors and big funds is most visible in the SpaceX IPO, as retail participation is unusually high.

Retail ​investors ended up taking 20% in the IPO, hedge funds 10%, and institutional investors with a longer term holding strategy got 70%, a person close to the deal said.

For large funds, access to IPO allocations is driven less by market rules and more by the fees and trading business they generate for banks, Ritter says. They are typically judged case by case, with underwriters weighing the broader relationship rather than a single ​trade.

An asset manager who said they had received roughly a $300 million allocation in the offering, with no flipping restrictions, told Reuters on condition of anonymity they intend "to sell it straight ​into the open and return cash within five days,” taking advantage of demand by small investors.

For mom-and-pop investors, the trade-off is rigid: sell too soon and risk being shut out of future IPOs; wait too ‌long and ⁠risk missing the chance to lock in gains or hedge volatility.

RESTRICTIONSFidelity said clients must hold shares for 15 days, opens new tab, or face escalating penalties from a six‑month ban from future IPOs to a permanent ban tied to the account holder’s Social Security number.

Robinhood, opens new tab applies a 30‑day window with a flat two-month suspension. SoFi, opens new tab and E*TRADE, opens new tab also apply 30-day restrictions, with Sofi imposing a permanent ban after a third violation.

"Their entire trading account could be restricted," says Emil Barr, a 23-year-old entrepreneur who reserved $500,000 for the IPO. "It's a really deep penalizing system in which the punishment doesn't quite match the ​crime."

Barr said he accessed the IPO through ​JPMorgan’s private banking, a service typically limited ⁠to clients with more than $5 million in assets. He plans to hold the shares and is not subject to the restrictive rules.

The U.S. Financial Industry Regulatory Authority defines “flipping” as selling shares within 30 days after an IPO, but imposes no legal restrictions. Underwriters and brokerage platforms impose ​market restrictions on flipping because it can destabilize the stock.

Keeping long-term shareholders helps platforms like Robinhood secure more shares in future IPOs, ​as banks managing public offerings ⁠prefer to avoid volatility that could lead to a price drop.

PREDICTED EARLY DEMANDLarge IPOs can be added to stock indexes within two weeks of trading, triggering automatic buying by funds that track them.

For example, Vanguard’s Total Market funds, which track a CRSP index, can begin adding a newly listed company within five trading days, while other benchmarks such as the Nasdaq‑100 may include large IPOs two ⁠weeks after ​listing.

Those inclusions force index funds to buy shares regardless of price, creating predictable demand that larger investors can sell ​into.

At Fidelity, the faster to lift restrictions, clients can sell without being labeled flippers starting from day 16.

"I think the underwriting firms are using retail investors as cannon fodder because they have to hold the stock for 30 ​days," Barr said. "It's like a cushion to absorb some of the risk from how highly priced the stock is."

Reporting by Sabrina Valle and Echo Wang, in New York; Editing by Kim Coghill

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NY-based correspondent reporting on some of the largest deals in Healthcare and Industrials. Previously based in Houston, covering global operations of U.S. oil majors. Sabrina has a two-decade career in Business reporting, with a strong background in source-based enterprise and investigations. She previously worked at Bloomberg, Washington Post and has been based in Rio and D.C. covering large corporations, including finance, corruption and geopolitics.

Echo Wang is a correspondent at Reuters covering U.S. equity capital markets, and the intersection of Chinese business in the U.S, breaking news from U.S. crackdown on TikTok and Grindr, to restrictions Chinese companies face in listing in New York. She was the Reuters' Reporter of the Year in 2020.

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Osmo founder Antons Davis and Altrina cofounder Mo Nasir both left Nvidia to launch their own ventures. Cynthia Smalley, Mo Nasir Roughly nine years into his tenure at Nvidia, Antons Davis hopped on a call with CEO Jensen Huang to pitch his ideas.

Davis, who led design for several Nvidia gaming products, brought up an idea for how the company could build an educational ecosystem. Huang challenged him to move beyond theory and prove the concept. Instead, the Nvidia CEO urged him to build something.

"'If you can show me, then we can talk about it,'" Davis recalls Huang telling him. "And that was a good reality check for me."

Ultimately, that's what Davis did. In 2022, he quit what would become one of the most coveted jobs in tech and embarked on a self-exploration journey of travel and retreats. During an ayahuasca ceremony, one message stuck: "I am a healer," he recalled scribbling in a notebook.

That led him to found a life-coaching practice, Touch of Humane, and later, a tech startup, Osmo, that develops software for coaches.

Davis is an anomaly at Nvidia, which has seen its stock grow twelvefold since the launch of ChatGPT in late 2022. The company's soaring valuation and relative stability in an industry recently defined by layoffs have created powerful incentives for many to stay, as their stock options have exploded.

Some Nvidians chose to start their own ventures instead and said the company's success gave them the freedom to walk away. Business Insider spoke to former Nvidia employees who left to become founders amid the height of the AI boom.

Nvidia's golden handcuffsSome former Nvidians described wrestling with golden handcuffs.

Adnan Boz, who left Nvidia in 2023 to found SoftwareAgent.AI, a startup building autonomous AI programmers, said he delayed his departure twice while waiting for the next quarterly vest, only to realize it was a "moving target." Nvidia stock payouts unlock over time — a tactic that tech companies have used for years to retain employees.

At 54, Boz knew his career timeline was finite.

SoftwareAgent.AI founder Adnan Boz.  Adnan Boz Likewise, Davis said the decision to leave came at a cost. Unfulfilled by the "churn" of corporate life, he made what he described as a tough decision for someone with a survival mindset, having grown up in a small town in southern India.

Davis sold enough Nvidia stock to create a buffer of three to five years until he got his coaching business off the ground. He said he ultimately left "millions" on the table in pending stock compensation.

"I don't know how many people are able to let go of that golden handcuff and make that leap," he said.

Former Nvidia employees chase the AI startup boomAt the height of the AI boom, many former Nvidia employees saw an opportunity to build their own companies.

Mo Nasir got his first job out of college at Nvidia, working on control systems for self-driving cars. In his 20s, he felt an entrepreneurial pull — and as AI models improved, he saw an opportunity to build software that could automate work. Acceptance into Y Combinator gave him permission to take his side project into a full-time venture.

"If you want a shot at making a billion dollars, it is next to impossible to do that as an employee," he said.

Nasir left Nvidia in 2024 after over four years to launch Altrina, which creates agents in regulated industries. The company has raised $1.8 million in funding and has four employees.

While Nasir left behind a substantial amount of Nvidia equity, he said he underestimated the financial upside available to startup founders.

If Altrina were to sell at its pre-seed valuation, he "would have made back 10x what I left on the table when I left," Nasir said. "The numbers are just bonkers."

The right time to leave NvidiaFor Sam Karu, leaving Nvidia was less about a lack of fulfillment than about timing.

He didn't have a concrete idea for a startup when he quit after over three years at the company in 2025. But he'd just turned 30 and knew he wanted a family, so he sought to take advantage of his most productive years, recognizing that the ability to work around the clock wouldn't last forever.

"I knew I was giving up a job that most people would die to have," he said.

Karu left Nvidia to found the Y Combinator-backed startup Logical, which is building an AI work assistant.

Logical founder Sam Karu.  Courtesy of Sam Karu After leaving, the founders said Nvidia's reputation helped establish credibility with investors, customers, and other stakeholders. And they said the company's culture informed their journey as entrepreneurs.

"Jensen is like a school," said Boz, the SoftwareAgent.AI founder, said of Nvidia's CEO.

He said that Huang taught employees to become comfortable with failure and to see setbacks and blame as parts of building something new — a lesson that sits at the heart of entrepreneurship.

"You have to make mistakes so you can actually fine-tune your goal," Boz said.

Have a tip? Contact this reporter via email at [email protected] or Signal at @geoffweiss.25. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

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Geoff Weiss You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.

Geoff Weiss is a senior reporter on Business Insider’s tech team, where he writes about AI startups and Y Combinator, the intersection of AI and the media industry, and workplace dynamics within top AI labs and chip companies.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at [email protected], on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely.Selected stories:Nvidia crushed its quarter — and CEO Jensen Huang said in a leaked all-hands that 'the market did not appreciate it'Nvidia will foot the bill for Trump's new visa fees. Here's what CEO Jensen Huang told staff.Massive AI salaries and RTO are fueling a real estate boom in San Francisco: 'It's going to rain money'The AI talent wars are ricocheting across startups. Here's how they're competing with Big Tech.

Careers Big Tech AI More Startup Startups Leadership

The Elon Musk-led company closed its first trading session at $160.95, up 19.22% from its $135 IPO price, after raising $75 billion in an all-primary share offering.

Musk and other early stakeholders are subject to a 366-day lockup period.

Analysts See Long-Term OpportunityWedbush Securities analyst Dan Ives called the SpaceX listing a watershed moment. He said the debut could mark the start of an “IPO supercycle” and help clear the path for future listings from companies such as Anthropic and OpenAI.

Maguire said he plans to hold his SpaceX shares “forever,” reflecting his confidence in the company’s long-term trajectory.

Maguire also pointed to Starship as a key part of SpaceX’s future opportunity, saying the company’s engineering base and infrastructure support his long-term optimism.

SpaceX Price ActionPhoto via Shutterstock

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SummaryAT&T remains well-positioned despite rising satellite broadband competition, with terrestrial networks retaining clear advantages in speed, coverage, and use cases.Concerns about SpaceX/Starlink disrupting T’s core fiber and wireless business are overstated; satellite is likely a niche solution for remote areas.T’s aggressive fiber expansion, cost-cutting, and partnership models are set to drive substantial FCF growth, with rising projections up till 2028.Valuation remains attractive, with a price-to-cash flow gap versus peers and a relatively moderate $30 price target implying 27% upside.This target is in light of competition among terrestrial cellular providers and execution risks related to integrating acquisitions. Getty Images

Since my last bullish piece on AT&T (T) titled “AI-Led Productivity And Capital-Light Growth” in May 2024, it has gained more than 30%. However, as charted below, the stock plunged in March, somewhat coinciding with news about

8.66K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SPCX either through stock ownership, options, or other derivatives. 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.

This is an investment thesis and is intended for informational purposes. Investors are kindly requested to do additional research before investing.

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.

Fashion icon joins Target in a first-of-its-kind Creative Director at Large role Mizrahi will mentor Target designers, advise on product design and innovation, bring fresh partnerships and help strengthen Target's design authority and cultural relevance , /PRNewswire/ -- Target Corporation (NYSE: TGT) is welcoming renowned designer and creative visionary Isaac Mizrahi as the retailer's first creative director at large.

This partnership with Mizrahi will further elevate Target's merchandising authority and strengthen its position as a destination for great design at an exceptional value. In his new, unprecedented role, Mizrahi will serve as a creative advisor to Target's internal design organization, mentor design talent, and elevate Target's design credibility and cultural relevance.

Isaac Mizrahi. Photographer: David Gurzhiev, courtesy of Target.

Gena Fox, Senior Vice President, Design of Target, and Isaac Mizrahi, Creative Director at Large of Target. Photographer: David Gurzhiev, courtesy of Target. "Great design is deeply human – it ignites confidence and joy, and it's what guests tell us they love about shopping at Target," said Cara Sylvester, executive vice president and chief merchandising officer, Target.  "Isaac has always believed, as we do, that great design should be accessible to everyone. What excites me most is the opportunity to pair his creativity and perspective with the incredible talent we already have inside Target as we shape the next chapter of style and design for our guests."

"I'm thrilled to have this opportunity to inspire a brand I care so deeply about," said Isaac Mizrahi, creative director at large, Target. "My partners at Target and I have always shared the idea that great design should belong to everybody, and Target is poised to be the design authority in a way only Target can. My role is to collaborate with its incredible team to bring more joy, style and sophistication to design through storytelling, creativity and a shopping experience that feels even more fun."

As creative director at large, Mizrahi shares Target's belief that exceptional design should be accessible to all — a philosophy that will come to life through this partnership in several key ways, including:

Product and design consultation
Working alongside Gena Fox, senior vice president of design at Target, Mizrahi will: Serve as a creative advisor across key product and design milestones, including new product concepts, design innovation and emerging trends Identify new opportunities for partnerships, capabilities and experiences that strengthen Target's design leadership Mentorship and talent development
Mizrahi will play a central role in a new mentorship program launching this summer designed to accelerate creative development and provide Target designers with direct access to insights from Mizrahi's decades-long career in fashion and design. Through this immersive program, select Target designers — from established leaders to emerging creatives — will work directly with Mizrahi through: One-on-one mentorship sessions Creative immersion experiences and inspiration trips Design workshops and consultations Brand and experiential moments
Mizrahi will help build Target's design credibility and cultural relevance by contributing to: Brand storytelling Design-focused collaborations and purpose-driven partnerships, including community engagement initiatives Together, these efforts will help strengthen Target's leadership in style, design and value while continuing to deliver distinctive products, brands and experiences for guests.

About Target

Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.

SOURCE Target Corporation

Also from this source

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Connecting brands to highly engaged audiences through an exclusive EA SPORTS Partner Program, in-game integrations, creative partnerships, and scalable advertising capabilities across EA’s global portfolio

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. (NASDAQ: EA), the global leader in interactive entertainment, today announced the launch of EA Advertising, a new platform transforming how brands connect with audiences through digital and real-world experiences across its global portfolio of games.

EA sits at the intersection of entertainment, sports, technology, music, and culture. Across console, mobile, and PC, our games and services reached more than 120 million players1 each month during fiscal year 2026. Together, this scale and frequency of engagement create meaningful opportunities for brands to connect with audiences through authentic, interactive experiences. EA SPORTS is one of the largest interactive sports platforms in the world, connecting hundreds of millions of players across console, PC, and mobile each year. Fans engage with EA SPORTS at extraordinary scale playing the equivalent of 23,000 NFL seasons every day in Madden NFL and completing more than 1 billion matches each month in EA SPORTS FC. Through a portfolio spanning globally licensed franchises EA SPORTS gives brands access to highly engaged sports audiences at scale. EA builds spaces where players play, watch, and connect with one another, creating participatory experiences where brands come to play alongside them.

EA Advertising is expanding EA’s ecosystem by enabling brands to integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content, designed to enhance, not disrupt, the player experience. In these interactive gameplay environments, brands become part of the game itself, reflecting how players engage with advertising in real-world contexts. Brands can activate across live environments, tailoring placements to meet campaign objectives, and update campaigns with ongoing optimization informed by aggregated engagement insights.

“Players come to EA’s games and live experiences every day to play, watch, create and connect,” said David Tinson, Chief Experiences Officer at Electronic Arts. “That gives brands a meaningful opportunity to show up in ways that add value and respect the player experience, while maintaining authenticity in the worlds our teams are building. With EA Advertising, we’re helping brands become part of those moments in ways that are relevant and built for players.”

As part of the launch, EA Advertising is introducing new ways for brands to reach audiences and measure performance across its ecosystem:

Brand Partnerships and Gameplay Integrations: EA Advertising partners directly with brands and agencies to create custom integrations designed for specific games and audiences. These collaborations bring brands into the experience through interactive moments, like in-game challenges, reward-driven objectives, and branded content. Brands can also opt into customizations like curated vanity items. Each integration is designed to reflect how fans engage with sports, games and culture, helping drive deeper engagement and brand connection.Ad Units in 3D Sports Simulations: Advertisers can now reach fans through native ad units in select EA SPORTS games, including digital ad boards, scoreboards, and brand broadcast overlays. Ads are dynamically served within the 3D environment, with impression measurement aligned to IAB standards for greater targeting and consistency.Enhanced Targeting and Measurement Capabilities: Brands can connect with relevant audiences across EA’s franchises using advanced targeting powered by EA’s new proprietary ad server and SDK, custom built for EA’s Frostbite game engine. Advertisers can now collaborate with EA in a privacy-safe way to improve targeting and gain deeper campaign insights. EA ensures ads are viewable, delivered to real audiences, and measured using industry-accredited standards in partnership with Integral Ad Science.EA SPORTS Partner Program: As part of EA Advertising, the EA SPORTS Partner Program introduces a new model for how brands participate in sports culture—moving beyond traditional sponsorship into co-created fan experiences built in, around, and beyond the game. Designed as a premium ecosystem for a select group of official partners, the program gives brands access to one of the world’s most engaged sports communities through opportunities ranging from live events like EA SPORTS Presents Madden Bowl and franchise tentpole moments such as Ratings Reveals, to in-game integrations, live service activations, creator tools, social play experiences, and community-driven programs. The program also extends into broader cultural and athlete-driven initiatives, including GEN / EA SPORTS, the company’s next-generation athlete platform focused on shaping the future storytelling and participation across sports fandom.EA Advertising has already started to partner with leading brands to deliver in-game experiences across the EA Portfolio, including:

Visa, a proud partner of EA SPORTS FC™ and EA SPORTS™ College Football, is partnering with EA SPORTS to deliver immersive, participatory experiences in and beyond the game, connecting its global network with a community of hundreds of millions of players.Lowe’s, which integrated into EA SPORTS FC, Madden NFL, and College Football through Ultimate Team challenges and branded player content, driving more than 987,000 games played and more than 200,000 challenges completed.Red Bull engaged EA SPORTS FC players through branded in-game objectives, team kits, and athlete ambassador collaborations, driving more than 128 million matches played, 1.2 million objectives completed, and strong in-game and social engagement.Xfinity and Peacock, which activated through dynamic in-stadium and broadcast-style integrations, custom vanity kits, Ultimate Team Packs, and personalized rewards through the Rewards program, in EA SPORTS FC 26, bringing the energy of live sports media into gameplay.Mountain Dew’s “DEW University,” a fully playable team experience in EA SPORTS College Football 26, complete with a custom stadium, mascot, and reward ecosystem.EA Advertising works directly with brands and partners to create bespoke integrations across its portfolio, spanning in-game, community, and real-world experiences. This hands-on approach enables tailored executions built for each title and audience, with expanded buying capabilities planned as the platform continues to scale. To learn more about EA’s brand partnership opportunities, please visit https://www.ea.com/brand-partnerships.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2026, EA posted GAAP net revenue of approximately $7.5 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS FC™, Battlefield™, Apex Legends™, The Sims™, EA SPORTS™ Madden NFL, EA SPORTS™ College Football, Need for Speed™, Dragon Age™, Titanfall™, Plants vs. Zombies™ and EA SPORTS F1 ®. More information about EA is available at www.ea.com/news.

EA, EA SPORTS, EA SPORTS FC, Battlefield, Need for Speed, Apex Legends, The Sims, Dragon Age, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, and F1 are the property of their respective owners and used with permission.

1 A reasonable estimate, including reasonable efforts to remove duplicate accounts, using internal company data and information provided by third parties, including third party network logins provided by platform providers. From time to time, our actions may impact the comparability of these metrics.

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Key Takeaways AI power demand is driving CAT's energy segment.CAT enjoys a record backlog.The company is rapidly expanding its autonomous mining segment. Caterpillar Company OverviewZacks Rank #1 (Strong Buy) company Caterpillar ((CAT - Free Report) ), known for its iconic yellow machines, is the largest global construction and mining equipment manufacturer. Given that it serves a gamut of sectors - infrastructure, construction, mining, oil & gas and transportation, the company is considered a bellwether of the global economy.Since 1925, Caterpillar’s product portfolio has evolved and boasts 20 brands and generated revenues of $67.6 billion in 2025. It has more than 4 million products with an extensive dealer network of 156 dealers spanning 190 countries.

Caterpillar started using telematics in the 1990s and reached its target of 1 million connected assets in 2019. It currently has more than 1.5 million connected assets. The combination of innovation, and cutting-edge technology, coupled with the formidable reputation, set Caterpillar apart from its peers.

Benefitting from the AI Data Center BoomThe artificial intelligence and cloud computing boom has transformed this legacy industrial giant into a crucial "picks and shovels" player for the physical layer of the AI revolution. The defining challenge for hyperscale AI data centers is securing enough electrical power, and connecting a massive campus to the traditional utility grid can take years due to regulatory hurdles, transmission line shortages, and grid capacity constraints. To bypass these delays, data center developers are increasingly choosing to skip the grid entirely or build decentralized, on-site power infrastructure to accelerate their time to market, which has sparked an unprecedented surge in demand for Caterpillar's Energy & Transportation segment. Developers are deploying massive arrays of Caterpillar's natural gas and diesel reciprocating engines, as well as industrial gas turbines through its Solar Turbines subsidiary, to generate electricity directly on-site and provide the continuous, high-output baseload reliability that compute-heavy AI workloads demand.

Record Backlog Provides Future Revenue VisibilityCaterpillar’s backlog rose to a record $63 billion at the end of first-quarter 2026, up 79% year over year, supported by all three primary segments and all-time record order intake. Management raised its full-year 2026 outlook to low double-digit sales compared with the earlier expectation of growth near the upper end of its long-term 5-7% CAGR target. The company also expects services revenue growth for the year. Notably, the company also updated its previously provided long-term target provided at its investor day of CAGR of 5-7% through 2030 to 6-9%. In North America, demand from residential and non-residential construction should support Caterpillar’s construction equipment sales in the long run. U.S. infrastructure investment in roads, bridges, airports and waterways remains an opportunity for Caterpillar given the breadth of its construction portfolio. Increased construction activity will also support demand in EAME and Latin America. Caterpillar plans to increase Construction Industries’ sales to users to 1.25x by 2030, compared to 2024. Meanwhile, Zacks Consensus Estimates suggest double-digit EPS growth through next year.

Image Source: Zacks Investment Research

Mining Cycle Support and Autonomous Expansion

Miners are bringing radical changes to mining operations to increase productivity, reduce cost and improve frontline safety and are, thus, increasingly relying on autonomous systems. Electric vehicle demand is also boosting demand for commodities. The intensifying global focus on shifting from fossil fuels to zero emissions will require a huge number of commodities, which in turn, will boost demand for Caterpillar’s mining equipment. Also, favorable trends in commodity prices bode well for mining equipment demand. Caterpillar is enhancing its autonomous capabilities and bringing innovative products into the markets to capitalize on this demand. Caterpillar acquired RPMGlobal in February 2026, expanding its portfolio of data-driven mining technology and software solutions that help customers plan, operate and manage their sites more efficiently. This aligns with the company’s broader autonomy roadmap. The company plans to triple the number of autonomous trucks in Resource Industries from 2025 levels by 2030.

Bullish Technical Set UpCAT shares are retreating to the rising 50-day moving average, offering a high probability reward-to-risk zone.

Image Source: TradingView

Bottom Line

Caterpillar is exceptionally positioned for sustained long-term growth as a global economic bellwether.

Key Takeaways RH is a premier luxury home furnishings retailer.Tariffs are causing cost pressures. RH's performance is deeply tethered to the struggling housing market. Restoration Hardware Company OverviewZacks Rank #5 (Strong Sell) company RH ((RH - Free Report) ) is a leading luxury retailer in the home furnishing space. The company offers dominant merchandise assortments across a growing number of categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, tableware and child and teen furnishings.RH’s business is fully integrated across its multiple channels of distribution, consisting of stores, Source Books and websites. RH positions its Galleries as showrooms for its brand, while websites and Source Books act as virtual extensions of its physical spaces. RH has an integrated RH Hospitality experience in ten of the Design Gallery locations, which include restaurants and wine bars.

RH Faces Tariff Uncertainty & Rising Cost PressuresRH faces significant headwinds from tariffs that continue to disrupt operations and weigh on financial visibility. With about 16 different tariff announcements over the past 10 months, RH has been facing significant resourcing challenges, product delays and out-of-stocks, along with multiple rounds of price negotiations and increases. Tariff-related resourcing has also impacted key categories such as furniture, lighting and rugs, which are more complex to shift across manufacturing locations. The elevated tariffs of 50% on imported steel and aluminum, with a new investigation into furniture imports, burden the company’s cost structure. These cost burdens not only threaten margins but also create timing distortions in revenue recognition. In the fourth quarter of fiscal 2025, tariffs remained a key driver of margin pressure, with an impact of around 90 basis points.

RH: Dependent on Housing MarketRH and other industry peers are highly dependent on housing market demand. The housing industry is cyclical and affected by consumer confidence levels, prevailing economic conditions and interest rates. The federal government’s actions related to economic stimulus, taxation and borrowing limits could affect consumer confidence and spending levels, which could hurt both the economy and the housing market.

Bottom Line

While RH maintains a sophisticated, fully integrated luxury brand identity and continues to innovate through its unique blend of retail and hospitality, its near-term outlook is increasingly challenged by external economic pressures. The convergence of persistent tariff burdens, supply chain bottlenecks, and an unpredictable, interest-rate-sensitive housing market presents a demanding operating environment. Moving forward, RH's ability to maintain its premium margins and sustain revenue growth will heavily depend on how effectively it navigates these macroeconomic headwinds and mitigates ongoing cost volatility.

Q1: 2026-06-11 Earnings SummaryEPS of -$1.97 beats by $0.10

 |

Revenue of

$800.33M

(-1.67% Y/Y)

beats by $7.94M

RH (RH) Q4 2025 Earnings Call March 30, 2026 8:00 PM EDT

Company Participants

Gary Friedman - Chairman & CEO

Presentation

Gary Friedman
Chairman & CEO

Albert Einstein's 3 rules of work. Out of clutter, find simplicity. From discord, find harmony. In the middle of difficulty lies opportunity. Seem especially relevant at this moment. Where compounding clutter from tariffs, global discord as a result of war and the most dire housing market in decades can make it difficult to separate the signal from the noise.

It's important to remember, necessity is the mother of invention, and our most important innovations were birthed during the most uncertain times. Transforming a nearly bankrupt Restoration Hardware into RH, the leading luxury home brand in North America was not a feat for the faint of heart. While the external challenges are somewhat familiar, our internal opportunities are massively different. We're not closing stores and fighting to survive. We're building a never seen before brand that's positioned to thrive. Before we get into the details of our strategy, let's start with a few facts that should quiet some of the noise.

In 2025, RH achieved revenue growth of 8% and 2-year growth of 15%, far outpacing our furniture industry peers by 8 to 30 points. Adjusted EBITDA reached $597 million or 17.3% of revenues versus $539 million or 16.9% of revenues in 2024. Free cash flow of $252 million versus negative free cash flow of $214 million in 2024, an increase of $466 million year-over-year. Those results were despite 2025 being our peak investment year with $289 million of adjusted CapEx to support our global expansion, plus an additional $37 million to purchase the Michael Taylor, Formations and Dennis & Lean brands to support the launch of our new concept, RH Estates. A strong performance considering the unusual circumstances.

As successful as Micron (NASDAQ: MU) has been in the 2026 stock market, the equity’s year-to-date (YTD) 211.21% rally from $315.42 to $981.61 has rendered MU exceedingly overbought and put it at risk of a severe sell-off.

Micron stock price YTD chart. Source: Google Specifically, at the most recent – Friday, June 12 close – the memory giant’s shares hit a relative strength index (RSI) of 90 – a 30-year high. 

Notably, the RSI moves on a scale between 0 and 100, with values below 30 indicating a stock is ‘oversold’ – hinting at a buying opportunity – and a reading higher than 70 positions it as ‘overbought’ – indicating a strong selling opportunity. 

Micron stock RSI all-time chart. Source: Barchart Examining Micron shares’ historical values, the highs recorded on Friday evening strongly hint that a substantial correction is on the way within the upcoming 12 months, and Micron stock has become a ‘sell.’

Here’s when the massive Micron stock price correction could start For example, MU RSI entered overbought territory in June 2024, leading the equity to suffer an overall 50% decline by early April 2025. 

Similarly, the metric hit a high close to 80 in early 2021 and, after briefly climbing above $90, retraced some 40% and toward $50 by 2023. 

Notably, Micron stock did not correct immediately after its RSI soared five years ago and even recorded a secondary high in 2022 before selling started in earnest one year later. 

The phenomenon of MU shares achieving a secondary high after technical analysis (TA) strongly indicated it was time to sell can also be observed during the 2018 rally, while the correction lagged behind the ‘overbought’ reading in 2014, 2000, and 1995 – the year in which the RSI record was recorded.

Given the historical trajectory, it appears highly likely that Micron stock can enjoy an additional leg up through the summer of 2026 – especially with the most recent tailwinds enabling the stock to soar above $1,000 in the Monday, June 15 pre-market – before entering a downturn later in the year.

Micron stock price all-time chart. Source: Google Additionally, there is a possibility of the memory equity recording new highs in the first half of 2027 before beginning a protracted decline that could take it as low as $500 – for a 49% drop from the latest close and a 53% crash relative to the press-time price of $1,056.47 – sometime in 2028.

Why Micron stock price could soar higher despite elevated RSI Elsewhere, it is plausible that Micron stock will prove resilient to the technical sell signals through the rest of the 2020s. 

Indeed, recent Wall Street analyst notes have, almost universally, highlighted that pricing in the memory stock will remain elevated through 2027 and likely 2028 as artificial intelligence (AI) companies continue driving demand.

Under the circumstances, Micron’s business has the potential to continue expanding in the same fashion it has within the last six months, helping the equity weather the period of elevated RSI.

Still, the recent debate over the costs of AI and the reports that even the biggest names in the technology sector are looking to reduce usage could damage the narrative through the remainder of 2026.

If the more bearish trends are confirmed, MU stock might be especially vulnerable given how overbought it has become.

Featured image via Shutterstock

NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Intuit Inc. (NASDAQ:INTU) for potential securities fraud after its significant stock drop.

If you invested in Intuit, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/intuit-class-action-lawsuit.

Key Details of the Intuit ($INTU) Class Action Investigation:

Investigation Overview: Securities fraud regarding the company’s price positioning among DIY tax filers ahead of and during the 2026 tax seasonStock Decline: May 20, 2026 – 20% Stock DropAction: Contact BFA Law to discuss your rights
Why is Intuit Being Investigated for Securities Fraud?

Intuit is a financial technology platform that serves consumers, small and mid-market businesses, and accountants through its offerings, which include TurboTax, Credit Karma, and QuickBooks.

During the relevant period, Intuit told investors that it had been preparing for the 2026 tax season “a couple of years ago” and that the company understood what worked in 2025, which was “being at the lowest price compared to alternatives.” Intuit also stated that the 2026 tax season was “off to a strong start” as the company was poised to deliver the “best price for our customers.”

In truth, it appears that the company was facing pressure among the most price-sensitive DIY tax filers and was not competitive on price in this segment.

Why did Intuit’s Stock Drop?

On May 20, 2026, Intuit released its fiscal Q3 2026 financial results, which included its 2026 tax season revenue. Intuit stated that it “did not have the overall tax season we expected” and that it “faced pressure among the most price-sensitive DIY filers.” Intuit stated that “[w]e [lost] on price,” and revealed that the company needed to evolve its business model by delivering the right lineup and price points to meet simple filers’ needs at the low end. Intuit also announced that TurboTax online paying units were expected to grow by only 2% as total IRS filers were expected to decline by approximately 30 basis points, representing the “most significant industry-wide contraction since the post-COVID tax season.”

This news caused the price of Intuit stock to decline $76.86 per share, or 20%, from a closing price of $383.93 per share on May 20, 2026, to $307.07 per share on May 21, 2026.

Click here for more information: https://www.bfalaw.com/cases/intuit-class-action-lawsuit.

What Can You Do?

If you invested in Intuit, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/intuit-class-action-lawsuit

Or contact:

Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/intuit-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Roblox Corporation (NYSE:RBLX) and certain of the Company’s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.

If you invested in Roblox, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/roblox-class-action-lawsuit.

Key Details of the Roblox ($RBLX) Class Action:

Lead Plaintiff Deadline: August 7, 2026Alleged Misconduct: Securities fraud alleging that Roblox misled investors regarding the impact of age verification features on Roblox’s business and growth potentialStock Drop: May 1, 2026 – 18.33% Stock DropCourt: U.S. District Court for the Northern District of CaliforniaAction: Contact BFA Law to discuss your rights
Investors have until August 7, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Roblox common stock. The class action is pending in the U.S. District Court for the Northern District of California. It is captioned Mukherjee v. Roblox Corporation, et al., No. 26-cv-5489.

Why is Roblox Being Sued for Securities Fraud?

Roblox is a gaming and creation platform. In late-2025, Roblox introduced age verification systems to its platform. By January 2026, age verification systems were mandatory in all chat enabled regions.

During the relevant period, Roblox stated that 2026 bookings would grow by 22% to 26%, which reflected Roblox’s “confidence in the adoption of our age-checking technology.” Roblox also stated that its age verification features provided “a bigger growth opportunity in the 18-plus demographic than previously assumed” and stated that its “18 and over cohort is growing at over 50%[.]”

In truth, as alleged, Roblox’s age verification rollout was causing a slowdown in on-platform communication, app store rating reductions, and a considerable reduction in organic growth.

Why did Roblox’s Stock Drop?

On April 30, 2026, Roblox announced its Q1 2026 results and slashed bookings growth guidance from 22%-26% to 8%-12%. Roblox revealed that its age verification features reduced communication on the platform, caused a reduction in app store ratings, and were “contributing to a reduction in organic sign-ups[.]”

This news caused the price of Roblox stock to decline $10.13 per share, or 18.33%, from a closing price of $55.26 per share on April 30, 2026, to $45.13 per share on May 1, 2026.

Click here for more information: https://www.bfalaw.com/cases/roblox-class-action-lawsuit.

What Can You Do?

If you invested in Roblox, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/roblox-class-action-lawsuit

Or contact:
Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/roblox-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Wix.com Ltd. (NASDAQ:WIX) for potential securities fraud after its significant stock drop.

If you invested in Wix, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/wix-class-action-lawsuit.

Key Details of the Wix ($WIX) Class Action Investigation:

Investigation Overview: Securities fraud regarding Wix’s misrepresentations to investors regarding demand, AI competition, and its ability to deliver new products and innovation to sustain growth.Stock Decline: May 13, 2026 – 27% Stock DropAction: Contact BFA Law to discuss your rights Why is Wix Being Investigated for Securities Fraud?

Wix provides a platform for creating and managing websites without coding. The company has recently increased focus on artificial intelligence tools, including its AI-powered website builder, Wix Harmony, and its acquisition of the AI application platform Base44.

BFA is investigating whether Wix made false and misleading statements to investors regarding demand from professional designers, AI competition, and its ability to deliver new products and innovation to sustain growth.

Why did Wix’s Stock Drop?

On May 13, 2026, Wix released its 1Q 2026 financial results. The company reported earnings and revenue below consensus expectations, and a sharp decline in operating margins which it largely attributed to softness in its professional developer business. Specifically, Wix acknowledged that its professional developer customers were using competing AI tools, its new Wix Harmony platform had “holes” and “missing capabilities,” there had been delays in delivering product updates and innovation to professional developer customers, and as a result the company had fallen behind “the workflow and the needs of” professional developers.

This news caused the price of Wix stock to decline $20.56 per share, or 27%, from a closing price of $75.88 per share on May 12, 2026, to $55.32 per share on May 13, 2026.

Click here for more information: https://www.bfalaw.com/cases/wix-class-action-lawsuit.

What Can You Do?

If you invested in Wix, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/wix-class-action-lawsuit

Or contact:

Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/wix-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

This year marks a new era for the trillion-dollar company that billionaire Warren Buffett built. The Oracle of Omaha retired as Berkshire Hathaway's (BRKA +0.76%)(BRKB +0.71%) CEO on Dec. 31, officially passing the torch to his protégé, Greg Abel.

Abel has wasted little time making his presence known. According to Berkshire's first-quarter Form 13F, he completely exited 16 positions and put tech stocks back on the menu, as evidenced by his sizable investment in Google parent Alphabet (GOOGL +0.53%)(GOOG +0.45%).

It took just one quarter for Abel to make clear that this isn't your grandparents' Berkshire Hathaway anymore -- and he's not done transforming Berkshire's $325 billion investment portfolio just yet.

Warren Buffett retired as Berkshire's CEO on Dec. 31, 2025. Image source: The Motley Fool.

Abel continues to pile into one of Wall Street's leading virtual monopolies During the first quarter, Abel more than tripled Berkshire's stake in Alphabet's Class A shares (GOOGL) with a 36,403,656-share purchase, and opened a brand-new position in the Class C shares (GOOGL) with a 3,585,215-share purchase.

On June 1, Alphabet announced plans to sell $80 billion in stock to fund the expansion of its artificial intelligence (AI) infrastructure. Days later, it upsized its stock offering to a staggering $84.75 billion. Abel's Berkshire committed to buying $10 billion of this offering in a private placement ($5 billion Class A and $5 billion Class C). This additional investment will make Alphabet a top-four holding, with the market value of this position exceeding $30 billion.

Alphabet is dropping $80bn in equity to fund mass CapEx for AI compute dominance: $30bn public, $40bn ATM, and $10bn in a private placement with Berkshire.

Greg Abel isn't waiting. Buffett never embraced big tech, Abel is betting on it. pic.twitter.com/AU9lLxR3Bs

-- JUNK BOND ANALYST (@junkbondanalyst) June 1, 2026 Most investors are familiar with Alphabet's virtual monopoly status in internet search. Google has accounted for between 89% and 93% of global internet search traffic over the trailing decade, per GlobalStats. When coupled with Alphabet's ownership of YouTube, the second-most-visited social site on the planet behind Google, it's easy to see why it possesses truly exceptional ad-pricing power.

But there's much more to Berkshire's new No. 4 holding than just premium ad pricing power and strong cyclical ties. It's risen through the ranks to become a leading AI stock.

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While Nvidia has established itself as the hardware kingpin of the AI revolution, Alphabet is making a strong case to be the premier deployer of AI applications. Since integrating generative AI solutions and large language model capabilities into Google Cloud, sales for Alphabet's cloud infrastructure services platform have soared. Revenue for the world's No. 3 cloud infrastructure services platform jumped 63% in the March-ended quarter compared with the previous year.

Although cutting-edge technology and large-scale tech companies were typically outside the scope of Warren Buffett's knowledge, this isn't the case with Berkshire's new boss. Abel recognizes Alphabet's sustainable moat in advertising, its key position in AI applications, and has likely been attracted by a valuation that, until recently, had been consistently cheaper on a forward-earnings basis than the benchmark S&P 500.

We may be witnessing the birth of a new multidecade/core holding for Abel and Berkshire Hathaway.

Sean Williams has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, and Nvidia. The Motley Fool has a disclosure policy.

Key Takeaways Lennar lowered full-year delivery guidance as mortgage rates and macro uncertainty weigh on buyers.LEN said incentives eased for the first real time after three years of steady increases.Lennar cited lower costs, faster cycle times and tighter inventory as drivers of margin repair. Lennar Corporation (LEN - Free Report) used its second-quarter 2026 earnings call to argue that its operating model is starting to show through a difficult housing backdrop. Management pointed to lower incentives, faster cycle times and tighter inventory as early evidence that margins can recover even with affordability still under pressure.

The company paired that message with a more guarded volume outlook, lowering full-year delivery guidance as mortgage rates and macro uncertainty continue to weigh on buyer urgency.

LEN Sees Incentives Finally Start to EaseExecutive chairman, CEO and president Stuart Miller said the clearest change in the quarter was the sales incentive rate on deliveries, which fell to 12.9% from 14.1% in the prior quarter and 14.5% in the fourth quarter of 2025.

He said that marked the first real decline in incentives after three years of steady increases. Miller framed that shift as a potential early sign of margin recovery, even though he stressed that affordability remains strained and the market is still uneven.

That backdrop shaped the quarter’s mixed headline results. Adjusted earnings per share of $1.31 beat the Zacks Consensus Estimate of $1.23, delivering a surprise of 6.5%. However, revenues of $7.94 billion missed the Zacks Consensus Estimate of $8.07 billion by 1.6%.

Lennar Balances Demand With a More Careful PaceMiller said mortgage rates stayed in the mid- to upper-6% range during the quarter, keeping monthly payments elevated for buyers. He also described traffic as inconsistent, with interest still present but decisions taking longer.

That caution showed up in guidance. CFO Diane Bessette projected third-quarter deliveries of 20,500 to 21,500 homes and new orders of 21,000 to 22,000 homes, while full-year delivery guidance was reduced to 82,000-83,000 homes.

In the analyst Q&A, a JPMorgan analyst pressed management on why Lennar lowered closing expectations instead of sacrificing more price or margin to preserve prior volume goals. Miller said the company chose prudence, arguing that inventory discipline and start pace mattered more than pushing aggressively into a market he called erratic.

LEN Leans Harder Into Its Asset-Light ModelManagement spent much of the call reinforcing Lennar’s land-light transformation. Miller said less than 5% of land is now on the balance sheet, while Bessette said the company owns 2% of homesites and controls 98% through third parties.

Bessette said that structure lowers balance sheet risk and supports a more capital-efficient growth model. The company ended the quarter with 11,000 owned homesites, 484,000 controlled homesites, $1.8 billion in cash and total liquidity of $4.9 billion.

Analysts focused heavily on ACORE and land banking costs. Management said the build-in capitalized option maintenance fees reflect the transition to a broader multiyear off-balance-sheet land platform, not an overstatement of earnings, while also acknowledging that most land bank structures still require current pay.

Lennar Touts Cost Gains and Core ProductChief operating officer Jim Parker and executive vice president of Homebuilding David Grove said Lennar is pushing more standardized core products across divisions. They described smaller, easier-to-build homes as a key lever for better returns, faster turns and lower costs.

The operating metrics supported that argument. Construction cost per square foot fell to $81, down 7% from a year earlier, while cycle time improved to a record 121 days from 132 days a year ago. Inventory also fell to just above two homes per community from three in the first quarter.

Management tied those gains directly to cash generation. Miller said lower cycle times and lower cost per square foot should continue to lift inventory turns, which improved to 2.5x from 1.8x a year ago.

LEN Says Technology Work Should Lower OverheadTechnology was another central theme. Miller said Lennar’s foundational systems have required heavy updating and included some missteps, but he argued that the work is setting up future reductions in SG&A and corporate overhead.

Grove said the technology effort is also intended to improve the customer experience. He linked the company’s digital funnel, faster engagement and stronger conversion to a broader effort to make Lennar’s buying process more efficient and more attractive to payment-sensitive buyers.

That efficiency case also shaped margin guidance. Bessette said third-quarter gross margin should be about 16%, with SG&A at 8.8% to 9.0%, while Miller told analysts the expected improvement is driven more by core product and operating execution than by a sharp assumed drop in incentives.

Lennar Keeps a Measured but Constructive ToneThe call’s closing tone was controlled rather than celebratory. Miller argued that housing demand remains real, supply remains structurally short, and government attention to affordability has intensified, even as near-term macro pressures remain unresolved.

He repeatedly returned to consistency as the company’s edge. Across prepared remarks and Q&A, management emphasized even-flow production, disciplined inventory, lower land intensity and gradual margin repair instead of betting on a quick rebound in housing conditions.

Zacks Signals Still Point to CautionLEN carries a Zacks Rank #4 (Sell), along with a Value Score of C, Growth Score of F, Momentum Score of B and VGM Score of D. Under the Zacks framework, Style Scores are meant to complement the Zacks Rank, not override it. 

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

That matters here because a weaker Zacks Rank tempers the usefulness of any stronger individual style reading. The current Momentum Score stands out, but the overall setup remains cautious, and the Zacks Rank can still change as earnings estimate revisions move after the quarter.

WILMINGTON, Del., June 15, 2026 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a wireless, video, and AI technology research and development company, will participate in the 13th FOKUS Media Web Symposium to demonstrate expertise and the latest innovations enabling interactive AR experiences and energy-efficient video streaming.

The FOKUS Media Web Symposium brings together global media technology experts to explore advancements in web-based media delivery, with this year’s program spotlighting AI-driven creativity, immersive experiences, and sustainable practices across the media value chain. InterDigital is a silver sponsor of the event, and will demonstrate innovation empowering more interactive, interoperable, and sustainable ways to deliver and consume media.

“Next-generation media experiences will be defined by two equally important requirements: greater immersion and greater efficiency,” said Rajesh Pankaj, Chief Technology Officer at InterDigital. “At FOKUS, InterDigital will demonstrate how our research expertise and contributions to global standards are helping make interactive AR experiences feel seamless and also enabling video streaming that reduces energy use without sacrificing quality.”

During the symposium, InterDigital will showcase expertise through demonstrations and workshop presentations.

Energy-Efficient Video Streaming: This demo showcases how InterDigital’s AI-enabled Pixel Value Reduction (PVR) technology enables energy-efficient adaptive video streaming and can boost energy efficiency in video services without compromising perceived visual quality or user experience. AI-enabled PVR has extended video watch time on smartphones by up to 22% in controlled testing, and this demo highlights how PVR-supported adaptive streaming can enable devices to dynamically optimize between energy efficiency and quality of experience.As part of the Green Streaming workshop on June 16 at 16:30 CET, InterDigital’s Principal Engineer Franck Aumont will deliver a presentation on “Enabling Energy-Efficient Luminance-Adaptive Video Streaming.” Franck will outline how InterDigital’s approach to luminance-aware adaptive bitrate streaming can adapt different quality, luminance, and device energy metrics to balance quality of experience and energy objectives. This approach uses InterDigital’s AI-enabled PVR as a content pre-processing technique alongside the MPEG Energy-Efficient Media Consumption standard for novel luminance-aware adaptive bitrate algorithms on the end device.

Interactive AR Experiences: This augmented reality-enhanced interactive world enabled by InterDigital’s contributions to 3GPP and MPEG Scene Description, Avatar, and Haptic standards blends physical and virtual environments in real time. The demo allows virtual objects to remain anchored in a physical environment while responding naturally to user actions and integrating multiple media inputs, like video, spatial audio, avatars, and haptic feedback. InterDigital’s standards contributions support interoperability and scalable deployment across devices and networks, enabling content and service providers to “design once and play everywhere.”As part of the Provenance in Digital & Virtual Worlds workshop on June 16 at 15:00 CET, InterDigital’s Senior Scientist Patrice Hirtzlin will deliver a presentation on “MPEG-I Scene Description,” and its role as a standard enabling interactive and immersive media experiences. Patrice will explain the architecture, procedures, and standards efforts that are shaping new levels of interactivity and engagement in immersive and augmented reality communication.

The 13th FOKUS Media Web Symposium will take place in Berlin, Germany from June 16 - 17, 2026. To register, please visit: https://mws.fraunhofer.de/mws26/registrationmws26/

About InterDigital®
InterDigital is a global research and development company focused primarily on wireless, video, artificial intelligence (“AI”), and related technologies. We design and develop foundational technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. We license our innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles, and providers of cloud-based services such as video streaming. As a leader in wireless technology, our engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G and today’s most advanced Wi-Fi technologies. We are also a leader in video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies. Founded in 1972, InterDigital is listed on Nasdaq.

InterDigital® is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

InterDigital Contact:
Roya Stephens
Email: [email protected]
+1 (202) 349-1714

Rate cuts appear to be off the table for now due to surging inflation and a relatively strong jobs market. The current dynamics could drive increased market volatility, but they could also make dependable income more appealing to investors.

The good news is that there are plenty of stocks that offer attractive dividends and are good picks. Here are three high-yield dividend stocks to buy hand over fist in June.

1. AbbVie AbbVie (ABBV +1.32%) markets 12 blockbuster drugs. Seven of them generate annual sales of over $2 billion, with autoimmune disease therapies Skyrizi and Rinvoq at the top of the list.

The pharma stock is a member of the Dividend Kings, a group limited only to stocks with at least 50 consecutive dividend increases. AbbVie's streak of dividend hikes now stands at 54 years, including the time it was part of Abbott Labs (ABT 1.64%). Its dividend yield tops 3%.

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Aside from its strong dividend, what makes AbbVie a great pick to buy in June? For one thing, the company is poised to deliver solid growth. AbbVie's product lineup includes at least a dozen drugs whose sales increased by double digits year over year in the latest quarter. The big drugmaker's pipeline also includes around 60 programs in mid- or late-stage clinical studies that could fuel additional growth in the coming years.

Another big plus for AbbVie is that its stock remains attractively valued despite delivering solid returns over the last 12 months. Shares trade at roughly 15.8 times forward earnings, well below the S&P 500 (^GSPC +0.50%) healthcare sector average of 17.2.

2. Chevron Few companies are better positioned to benefit from the high energy prices driving inflation to soar than Chevron (CVX +0.75%). It's the world's third-largest energy company by market cap -- and the second-largest based in the U.S.

Image source: Getty Images.

Chevron isn't a member of the Dividend Kings yet. However, the company has increased its dividend for an impressive 39 consecutive years. Its dividend growth has handily outpaced top rivals ExxonMobil (XOM +0.28%), Shell (SHEL 0.22%), BP (BP +0.23%), and Total Energies (TTE +0.34%) over the last two decades. Chevron's dividend yield of 3.8% is also one of the juiciest among major oil companies.

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The energy giant consistently rewards shareholders with what some call "invisible" dividends, too -- stock buybacks. Chevron has repurchased shares in 18 of the last 22 years. Management targets buybacks of between 3% and 6% of outstanding shares per year going forward.

Chevron expects to deliver average annual earnings-per-share growth of over 10%. Even if oil prices fall below $50 per barrel, Chevron will be able to fund the dividend and planned capital expenditures.

3. Enterprise Products Partners Enterprise Products Partners (EPD 0.08%) isn't as well-known as Chevron, but I think it's one of the best energy stocks for income investors to buy this month. The limited partnership (LP) is a leader in the U.S. midstream energy industry, operating over 50,000 miles of pipeline.

If you're looking for an especially high yield, Enterprise could be just the ticket. Its distribution yield currently stands at 5.8%. Even better, the company has increased its distribution for 27 consecutive years.

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Enterprise Products Partners shouldn't have any problems extending that streak. Its strong balance sheet has earned the company the highest credit rating in the midstream energy industry. Enterprise's leverage ratio is a respectable 3.2x. Around 90% of its long-term contracts are insulated from inflation through escalation provisions.

The pipeline stock could deliver solid growth, too. The Iran war has driven higher demand for U.S.-produced natural gas liquids (NGLs). Data centers hosting artificial intelligence (AI) applications require massive amounts of power, with natural gas providing an ideal fuel source. Enterprise's energy infrastructure assets position the company well to benefit from these trends.

Keith Speights has positions in AbbVie, Chevron, Enterprise Products Partners, and ExxonMobil. The Motley Fool has positions in and recommends AbbVie, Abbott Laboratories, and Chevron. The Motley Fool recommends BP and Enterprise Products Partners. The Motley Fool has a disclosure policy.