Silence Therapeutics Highlights Follow-Up Data at EHA 2026 Demonstrating Durable Efficacy and Potential Best-in-Class Profile for Divesiran in Polycythemia Vera Silence Therapeutics plc (Nasdaq: SLN), a global clinical-stage biotechnology company developing novel siRNA (short interfering RNA) therapies, today presented follow-up and quality-of-life data from the Phase 1 SANRECO study evaluating divesiran, a first-in-class siRNA therapy targeting TMPRSS6, in 21 phlebotomy-dependent patients with polycythemia vera (PV) at the European Hematology Association (EHA) 2026 Annual Congress.
Divesiran data presented at EHA show improvements in PV-related symptoms and quality-of-life, complementing the substantial reductions in phlebotomy use as previously reported. Additional analyses also showed substantial reductions in phlebotomy use persisted well beyond the final dose.
“Data presented at EHA continue to reinforce divesiran’s potential to transform the treatment paradigm for patients with polycythemia vera,” said Curtis Rambaran, MD, Chief Medical Officer at Silence Therapeutics. “In Phase 1, we observed sustained hematocrit control, symptom improvement, and robust and durable reductions in phlebotomy burden, which persisted after the final dose. These findings further support the potential for less frequent dosing, including the Q12W regimen being evaluated in our ongoing Phase 2 SANRECO study, and we look forward to reporting topline results in August 2026.”
Key EHA 2026 Data Highlights
In the six months prior to treatment, the 21 enrolled patients required a total of 80 phlebotomies. During the active treatment period, only 5 phlebotomies were required, all occurring in patients classified as “uncontrolled” at baseline with HCT levels greater than 45%. During the 16-week follow-up period after the final dose, only 4 phlebotomies were reported, supporting the prolonged duration of divesiran’s effect. Among 14 patients with further follow-up data, the median time to first phlebotomy was 287 days. The majority of patients experienced improvements in MPN-10 total symptom scores from baseline through Week 34, indicating potential improvements in disease-related symptoms and overall quality of life. Divesiran was well tolerated, with no dose-limiting toxicities observed. The most common treatment-emergent adverse events (TEAEs) were mild and transient injection-site reactions. No treatment-related serious adverse events or TEAEs leading to discontinuation were reported. The 2026 EHA poster presentation is linked here.
The ongoing Phase 2 SANRECO study (NCT05499013) is evaluating divesiran using Q6W and Q12W dosing regimens in patients with PV. Topline data are expected in August 2026.
SANRECO Phase 1 Study Design
The Phase 1 portion of SANRECO was a 34-week, open-label study evaluating divesiran (3 mg/kg, 6 mg/kg and 9 mg/kg) administered subcutaneously (s.c.) Q6W for four doses, with a 16-week follow-up period following the date of the last administered dose in 21 PV patients. Key inclusion criteria included a PV diagnosis and a history of requiring at least three phlebotomies in the last six months or five in the last year prior to screening. Patients were allowed to be on stable doses of cytoreductive agents. Given the exploratory nature of this Phase 1 study, both well-controlled patients - defined as those with HCT levels ≤ 45% – as well as those with HCT levels > 45% at baseline on current standard-of-care treatment were enrolled.
SANRECO Phase 2 Study Design
The Phase 2 portion of SANRECO is an ongoing, three-part, global, randomized, placebo-controlled, double-blind study evaluating divesiran in 48 phlebotomy-dependent PV patients. The trial is evaluating the safety and efficacy of divesiran 6 mg administered s.c. Q6W or Q12W in patients with uncontrolled HCT who are phlebotomy-dependent despite standard-of-care treatment which could include hydroxyurea, interferon and/or ruxolitinib. The primary endpoint of the study is the proportion of patients achieving a response during weeks 18-36, which is defined as the absence of “phlebotomy eligibility.” To meet phlebotomy eligibility, patients in the study are required to have HCT ≥ 45%. Following the placebo-controlled portion of the trial, patients enter the 3-year, double-blind and open label extension periods.
About PV
PV is a rare, myeloproliferative neoplasm – a type of blood cancer - characterized by the excessive production of red blood cells, often resulting in elevated hematocrit levels. Elevated hematocrit above 45-percent is associated with a four-times higher rate of death from cardiovascular and thrombotic events. PV is associated with a range of burdensome symptoms including fatigue, cognitive disturbance and pruritus and additionally, longer term can transform to myelofibrosis and Acute Myeloid Leukemia. The aim of treatment is to maintain hematocrit less than 45%, a level that is associated with a reduced incidence of thrombosis and CV-associated death. The current standard of care includes repeated phlebotomies to reduce hematocrit and/or cytoreductive agents to reduce red blood cell production. There are currently no approved therapies that specifically target red blood cells and hematocrit.
About Divesiran
Divesiran is Silence’s wholly owned siRNA product candidate developed from its proprietary mRNAi GOLD™ platform that “silences” TMPRSS6 expressed almost exclusively in the liver. TMPRSS6 is a negative regulator of hepcidin, the body's master regulator of iron metabolism including its absorption, distribution, and storage. By silencing TMPRSS6 in PV patients, divesiran aims to increase hepcidin production and release by liver hepatocytes, leading to the restriction of iron to the bone marrow and, thus, reducing the excessive production of red blood cells, a process dependent on availability of iron. Divesiran is currently in Phase 2 development for PV and has FDA Fast Track and Orphan Drug designations for PV.
About Silence Therapeutics
Silence Therapeutics is a global clinical-stage biotechnology company committed to transforming people’s lives by silencing diseases through precision engineered medicines created with proprietary siRNA (short interfering RNA) technology. Silence leverages its mRNAi GOLD™ platform to create innovative siRNAs designed to precisely target and silence disease-associated genes in the liver, which represents a substantial opportunity. Silence focuses on areas of high unmet medical need with programs advancing in cardiovascular disease, hematology and rare diseases. For more information, please visit https://www.silence-therapeutics.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to, statements about: continued clinical development of divesiran including the proposed SANRECO Phase 2 clinical activities and timelines; the potential therapeutic benefits of the Company’s product candidates; and the anticipated timing of topline and future results from the SANRECO Phase 2 trial. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: the company’s history of net operating losses; the company’s ability to obtain necessary capital to fund its clinical programs; the early stages of clinical development of the company’s product candidates; the company’s ability to obtain regulatory approval of and successfully commercialize its product candidates; any undesirable side effects or other properties of the company’s product candidates; the company’s reliance on third-party suppliers and manufacturers; the outcomes of any future collaboration agreements; and the company’s ability to adequately maintain intellectual property rights for its product candidates. These and other risks are described in greater detail under the section titled “Risk Factors” contained in the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and the company’s other filings with the SEC. Any forward-looking statements that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, the company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260611005104/en/
SLN Stock Catalyst: SANRECO Phase 1 Follow-Up DataRecent analyses from the Phase 1 SANRECO study show potential improvements in symptoms and quality of life for patients with polycythemia vera (PV).
Additional analyses also showed reductions in phlebotomy use persisted well beyond the final dose.
The ongoing Phase 2 SANRECO study is on track to deliver topline results in August 2026, further supporting the stock’s upward movement.
William Blair Highlights Divesiran’s Competitive PositionWilliam Blair said Thursday that additional analyses from the Phase 1 SANRECO trial reinforce positive momentum for Silence Therapeutics and divesiran in polycythemia vera (PV), with topline Phase 2 data expected in the third quarter.
Analyst Myles Minter believes divesiran offers comparable efficacy and remains best-in-class among TMPRSS6 silencers. He highlighted its favorable dosing schedule (every 6–12 weeks versus weekly rusfertide injections) and safety profile.
Cardiovascular Pipeline Offers Additional UpsideThe analyst also pointed to Silence's cardiovascular disease pipeline, which targets well-validated pathways, as providing multiple value-creation opportunities for the company's mRNAi GOLD platform.
William Blair reiterated its Outperform rating.
SLN Stock Price Activity: Silence Therapeutics shares were up 2.84% at $6.87 at the time of publication on Friday, according to Benzinga Pro data.
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Paramount Skydance CEO David Ellison has DOJ clearance to buy Warner Bros. Discovery. Angela Weiss/AFP via Getty Images; Dania Maxwell / Los Angeles Times via Getty Images David Ellison's Paramount Skydance just got the official green light to buy Warner Bros. Discovery from President Donald Trump's Department of Justice.
The US government signed off on Paramount's $111 billion mega-deal on Friday, removing a major obstacle for Ellison's media company as it tries to build a Hollywood superpower. However, Paramount could still face regulatory challenges abroad or lawsuits by US states.
"The transaction is not likely to result in harm to competition or American consumers" in streaming, traditional TV, or film production and distribution, the US DOJ said in a statement.
The DOJ also said that "substantial evidence does not suggest a likelihood of reduction in output" in creative output.
"We are grateful for the Department of Justice's thorough review of this transaction, as well as the work of the other agencies that have completed their reviews and provided clearance to date," a Paramount spokesperson said in a statement.
Paramount has said it's aiming to acquire WBD by the end of September. It's agreed to pay WBD shareholders a so-called "ticking fee" of about $7 million per day that the deal isn't closed, starting September 30.
WBD had originally agreed to sell its studio and streaming assets, including the Warner Bros. studio and HBO Max, to Netflix for $27.75 per share. Paramount responded by offering $30 per share for the entire company, including its TV assets like CNN, HGTV, and TruTV.
Both Paramount and Netflix argued that they had the more favorable regulatory path and were offering more value to WBD's investors.
WBD's board decided in February that the Paramount offer was better than Netflix's.
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The Warner Bros. studios in Burbank, California, U.S. November 18, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 12 (Reuters) - The United States Justice Department said on Friday its antitrust division had completed a review of Paramount’s (PSKY.O), opens new tab proposed acquisition of Warner Bros (WBD.O), opens new tab and determined it was not likely to result in harm to competition or American consumers.
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The Justice Department approved Paramount Skydance’s $111 billion takeover of Warner Bros. Discovery on Friday.
Federal antitrust regulators cleared the blockbuster media merger without demanding a single concession, Politico reported.
They refused to require divestitures, which force merging companies to sell off specific assets to preserve market competition, according to the outlet.
Paramount CEO David Ellison sat for a two-hour grilling with the DOJ antitrust unit, according to Politico. Chris Pizzello/Invision/AP The feds also skipped asking for so-called behavioral remedies, an anti-trust legal term for conditions that dictate exactly how a newly formed corporation must operate.
The combined empire now houses Paramount, CNN, Warner Bros. Pictures and the HBO Max streaming service under one roof.
Paramount CEO David Ellison secured the approval after a two-hour grilling by antitrust attorneys three weeks ago, Politico reported.
His father, Oracle co-founder Larry Ellison, maintains a close alliance with President Donald Trump and the federal blessing ends a key hurdle for the new media giant. The deal still needs sign-off by European Union and UK regulators, two key markets.
Paramount beat Netflix in the bitter bustup to take control of Warner Bros. Discovery earlier this year. Christopher Sadowski Paramount says the massive combination gives it the firepower to battle tech giants in the streaming wars.
The company expects the deal to generate $6 billion in savings achieved by eliminating overlapping operations.
Paramount executives claim those operational tweaks will largely spare the workforce, but Hollywood unions have disputed the contention.
Entertainment workers fear the massive consolidation will trigger devastating industry layoffs, while labor leaders warn the merger hands too much power to a single giant and shrinks opportunities for creators.
The deal still faces a potentially significant legal threat. States including New York and California are readying to sue to block the merger, according to Reuters.
Earlier this year, Paramount staved off a rival bid from Netflix for Warner Bros.
Paramount executives accused Netflix of funding a “scorched-earth” lobbying campaign to sink the deal, an allegation the streaming giant denied.
Ascent Industries NASDAQ: ACNT President and CEO Bryan Kitchen said the company has completed a major portfolio shift and is now focused entirely on specialty chemicals after divesting its stainless steel-related assets.
Speaking at the East Coast IDEAS Conference hosted by Three Part Advisors, Kitchen described Ascent as a 75-year-old business that began as a U.S. specialty chemical manufacturer before adding stainless steel assets decades later. He said the company is now “a 100% pure play specialty chemicals business,” with management “laser focused” on profitable growth in the U.S. specialty chemicals market.
Kitchen said Ascent generated about $54 million of cash from the sale of its stainless steel-related assets and also exited a lease agreement that is expected to translate into a $2.1 million cash improvement this year. He said the company has been aggressive in repurchasing shares, buying back roughly 11% of outstanding shares from Jan. 1, 2025, through the first quarter of 2026.
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Shift Toward Higher-Margin Product Sales Kitchen said Ascent had about $75 million in revenue last year and operates three U.S. manufacturing sites in Tennessee, South Carolina and Virginia. The company serves roughly 170 customers and has about 200 employees. He also said approximately 95% of the raw materials used to make Ascent’s products are sourced domestically, which helped insulate the company from tariff-related disruption while also creating growth opportunities as customers looked to localize supply chains.
Ascent’s products and services support markets including personal care, agriculture, paints and coatings, pulp and paper, oil and gas, and water treatment. Kitchen said the company has narrowed its focus from participating in about 15 markets to areas including oil and gas, CASE — coatings, adhesives, sealants and elastomers — and infrastructure.
Kitchen said the company is intentionally shifting its business mix toward product sales, which he described as more predictable, more ratable and generally more margin accretive than custom manufacturing. In 2023, he said roughly 10% of sales were product sales and 90% were custom manufacturing. By 2024, product sales had risen to about 27% of sales, and last year the mix was approximately 70% custom manufacturing and 30% product sales.
“We continue to shift our mix intentionally towards product sales,” Kitchen said, adding that products generally involve solving a customer problem rather than “renting out capacity.”
Organic Growth and Customer Wins Kitchen highlighted several recent customer wins as examples of Ascent’s ability to move quickly. In one oil and gas example, he said a prospective customer contacted Ascent on Good Friday with a technical challenge and supply chain disruption. Ascent developed lab samples within days, the customer qualified the samples in the lab within a week and qualified the product in the field within a month. Kitchen said that led to $7 million of net new business at “really compelling EBITDA margins.”
He also described a larger win with a multinational customer that needed 15 products manufactured. Kitchen said Ascent scaled that business over roughly six months, resulting in $10 million of net new business. He said the business was won in the fourth quarter and reached full run-rate levels toward the end of the first quarter.
Kitchen said Ascent’s existing assets are “grossly underutilized,” with utilization at roughly 45%, but he framed that as an opportunity because the company has room to grow without significant capital spending. He said maintenance capital spending has averaged around $1.5 million per year over the past four years, which he said is sufficient to maintain safe and reliable operations based on the current product mix.
For 2025, Kitchen said Ascent had roughly 100 projects move through its selling project pipeline, with an average sales cycle of about three months and a conversion rate of 18%, which he described as slightly above the industry average but still an area for improvement.
Midwest Graphic Sales Acquisition Kitchen also discussed Ascent’s acquisition of Midwest Graphic Sales, which he said closed in early May. Midwest makes barrier coatings used in high-value packaging applications, including dog food bags, golf ball sleeves, paper plates, beverage packaging, printed materials and playing cards. Kitchen said Midwest makes the only coating approved for the World Series of Poker.
The purchase price was roughly $14 million, with about $1 million held back in escrow. Kitchen said Midwest generated $10.8 million in revenue and roughly $2 million of adjusted EBITDA last year. He said the deal was not underwritten using aggressive growth or cost-synergy assumptions, but Ascent sees opportunities to integrate Midwest product lines into its existing manufacturing infrastructure, pursue commercial expansion and cross-sell related products that Ascent already manufactures, such as defoamers and waxes.
Balance Sheet and Long-Term Targets Kitchen said Ascent ended the first quarter with roughly $39.2 million of cash, including proceeds being released from escrow, about $30 million of borrowing capacity and no debt. He said the company will continue to evaluate internal investments, share repurchases and mergers and acquisitions.
Asked about the company’s future capital structure, Kitchen said Ascent does not need acquisitions to build a successful company, but will pursue accretive deals when available. He said the company may take on debt or raise capital at some point, but added, “I don’t see that happening in the next 12 months.”
Kitchen said Ascent’s current asset base should be capable of supporting $120 million to $130 million of revenue without significant reinvestment. At that level, he said the company should be able to achieve gross margins of 30% to 35%, SG&A of about 15% of revenue and adjusted EBITDA margins of roughly 15% to 20%.
During the question-and-answer session, Kitchen said Ascent is moving from primarily being a toll manufacturer toward becoming an “application science-driven company” that works with customers to solve technical challenges. He said the company performs reaction-based chemistry ranging from complex, multi-step processes to products that can be made in about an hour.
Kitchen said the company’s technical sales and R&D teams work collaboratively with customers, and he attributed Ascent’s progress to the management team and employees. “It’s all about the people,” he said.
About Ascent Industries NASDAQ: ACNTAscent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.
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EchoStar Corp (NASDAQ:SATS) is down 4.8% at $120.10, paring some of yesterday's 11.2% rally as investors react to SpaceX's historic initial public offering (IPO). The world's largest initial public offering (IPO) begins trading today under the ticker SPCX after raising $75 billion at $135 per share, and EchoStar --though it owns some of SpaceX stock -- is feeling the pain.
Sector peers Rocket Lab (RKLB) and AST SpaceMobile (ASTS) are also in the red, down 6.5% and 8.5%, respectively, at last look.
SATS has shed 13% since its May 18 record high of $147.25, though support from the 150-day moving average captured the pullback. Despite today's drop, the stock has still surged 600% over the last 12 months and is up 16.5% in 2026.
Options traders have been firmly bullish. EchoStar's 50-day call/put volume ratio of 6.96 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and Nasdaq OMX PHLX (PHLX) ranks higher than 91% of readings from the past year, signaling a much stronger-than-usual appetite for calls.
Today is more of the same. At last look, 21,000 calls have changed hands, volume that's four times the average intraday amount. The weekly 6/12 130-strike call is the most popular, while the June 150 call is also seeing notable activity.
EchoStar stock is among today’s weakest performers. Why is SATS stock falling? EchoStar owns a meaningful stake in SpaceX through its $17 billion spectrum deal, which included up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock. With the IPO approaching, that stake became a major catalyst and the stock surged.
Today's move is the reversal of that surge. Fast, event‑driven rallies often attract short‑term traders who lock in gains the next day, especially when the move is tied to a single headline rather than a broad shift in fundamentals.
Yesterday's Catalyst Still StandsThe pullback does not change why EchoStar rallied. EchoStar's stake in SpaceX could become far more valuable once the IPO prices. The company received its stock when SpaceX was valued at about $400 billion.
EchoStar also has a long‑term commercial partnership with SpaceX. Boost Mobile customers will gain access to Starlink Direct to Cell through EchoStar's cloud‑native 5G core, tying the company directly into satellite‑to‑phone connectivity.
Why SATS Is Down TodaySATS is seemingly falling due to the traders taking profits after Thursday's surge and reallocating cash toward the SpaceX IPO. The core catalyst remains intact, but near‑term flows have shifted as investors prepare for the main event.
SATS Stock: Critical Support And Resistance LevelsEchoStar has slipped back under its short‑term trend markers. The stock now trades 7.9% below its 20‑day simple moving average at $126.76 and 7.3% below its 50‑day simple moving average at $125.95, which turns both levels into potential "sell the bounce" zones. The longer‑term picture is still constructive, with shares 15.2% above the 200‑day simple moving average at $101.36 and the golden cross from July 2025 still intact.
Momentum looks reset rather than broken. RSI sits at 54.08, a neutral reading that follows the overbought stretch seen in January. RSI gauges how extended a move is, and a mid‑50s print usually signals that neither buyers nor sellers have full control.
Key Resistance: $137.50 — a nearby ceiling that lines up with a prior pivot zone and sits above the cluster of short‑term moving averages. Key Support: $116.50 — a near‑term floor around the current price area, where a failed hold could open the door to a deeper pullback toward the 100‑day and 200‑day trend region. SATS Shares Are SlidingSATS Price Action: EchoStar shares were down 6.41% at $119.92 at the time of publication on Friday, according to Benzinga Pro.
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EchoStar (SATS 10.96%), a global provider of pay-TV services, broadband satellite technologies, and wireless communication services, closed Friday at $114.16, down 10.90%. The stock declined as profit-taking followed recent “SpaceX proxy” gains and renewed credit-risk concerns surfaced after a missed interest payment by its DISH DBS unit. Investors will be watching liquidity developments and spectrum-monetization progress next.
The company’s trading volume reached 50 million shares, which is about 542% above compared with its three-month average of 7.8 million shares.
EchoStar went public in 2008 and has grown 250% since its IPO.
How the markets moved todayS&P 500 (^GSPC +0.50%) added 0.50% to finish Friday at 7,431.46, while the Nasdaq Composite (^IXIC +0.31%) rose 0.31% to close at 25,888.84. Among telecom services, industry peers Iridium Communications (IRDM 5.15%) closed at $47.32 (-5.19%) and Motorola Solutions (MSI +0.46%) finished at $412.25 (+0.46%), reflecting mixed sentiment across communications names.
What this means for investorsEchoStar shares declined as renewed credit and liquidity concerns replaced recent gains driven by SpaceX-related speculation. The company reported that its DISH DBS subsidiary chose not to pay approximately $183 million in interest due June 1, triggering a default with a 30-day grace period. EchoStar stated this decision aims to preserve liquidity while awaiting proceeds from its AT&T spectrum transaction.
The timing of the spectrum-sale proceeds is now critical for EchoStar’s stock performance. While SpaceX-linked equity exposure has attracted speculative interest, investors are watching whether AT&T proceeds will arrive in time to resolve the DISH DBS payment issue. First-quarter results showed year-over-year revenue declines and ongoing pay-TV subscriber losses, which are increasing pressure on management to convert spectrum value into balance-sheet relief as the core business faces continued challenges.
Eric Trie has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
I am initiating coverage Modine with a strong buy and a $366 price target, reflecting a 42% upside potential. The main growth driver is data centers, where MOD expects sales to grow 60% to 80% in FY27, supported by capacity expansion and a multi-year agreement. I arrive at my PT by applying a 35.45x FWD non-GAAP P/E multiple to my estimated 2028 EPS of $10.34.
Modine (MOD - Free Report) closed at $274.50 in the latest trading session, marking a +1.1% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.5%. Elsewhere, the Dow saw an upswing of 0.7%, while the tech-heavy Nasdaq appreciated by 0.31%.
The heating and cooling products maker's shares have seen a decrease of 7.07% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 6.53% and the S&P 500's loss of 0.23%.
Market participants will be closely following the financial results of Modine in its upcoming release. The company is expected to report EPS of $1.43, up 34.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $895.49 million, up 31.15% from the year-ago period.
MOD's full-year Zacks Consensus Estimates are calling for earnings of $7.73 per share and revenue of $4.03 billion. These results would represent year-over-year changes of +53.98% and +26.76%, respectively.
It is also important to note the recent changes to analyst estimates for Modine. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.99% upward. Right now, Modine possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Modine has a Forward P/E ratio of 35.12 right now. This expresses a premium compared to the average Forward P/E of 13.11 of its industry.
Investors should also note that MOD has a PEG ratio of 0.88 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Automotive - Original Equipment industry was having an average PEG ratio of 0.88.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Futu Holdings Limited ("Futu" or the "Company") (NASDAQ: FUTU). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Futu and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 22, 2026, Reuters published an article entitled "China to crack down on 'illegal' cross-border securities." The article reported that China "would punish brokers it accused of illegally moving money to foreign markets[.]" The article further reported that online brokers, including Futu, "would be penalised for soliciting business in China without an onshore licence[.]"
On this news, the price of Futu American Depositary Shares ("ADSs") fell $34.10 per ADS, or 27.5%, to close at $89.76 per ADS on May 22, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Futu Holdings Limited ("Futu" or "the Company") (NASDAQ: FUTU) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Futu revealed on May 22, 2026, that it had received a Notice of Investigation and Administrative Penalty Pre-Notification Letter from the China Securities Regulatory Commission and its Shenzhen bureau. According to the Notice of Investigation, the Company was engaged in securities trading, public fund sales, and futures trading without licenses or approval. Based on this news, shares of Futu fell by more than 27.5% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
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The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
New York, New York--(Newsfile Corp. - June 11, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Futu Holdings Limited (NASDAQ: FUTU) resulting from allegations that Futu may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Futu securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/futu-holdings-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
WHAT IS THIS ABOUT: On May 22, 2026, Reuters published an article entitled "China to crack down on 'illegal' cross-border securities" The article stated that China "announced a major crackdown on cross-border investment on Friday and said it would punish brokers it accused of illegally moving money to foreign markets, sending their shares plunging." Further, "online brokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, the securities regulator said."
On this news, Futu American Depositary Shares ("ADSs") fell 27.5% on May 22, 2026.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301179
Source: The Rosen Law Firm PA
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Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Futu (FUTU) To Contact Him Directly To Discuss Their Options
If you purchased or acquired stock in Futu and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.
Click here to participate in the action.
NEW YORK, June 11, 2026 (GLOBE NEWSWIRE) --
What’s Happening?
Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ:FUTU) on behalf of Futu stockholders. Our investigation concerns whether Futu has violated the federal securities laws and/or engaged in other unlawful business practices. What are the Investigation Details?
On May 22, 2026, Futu announced it had “received a Notice of Investigation and an Administrative Penalty Pre-Notification Letter from the China Securities Regulatory Commission and its Shenzhen bureau (collectively the “CSRC”) in connection with the Company’s operations in mainland China.” On this news, the price of Futu shares declined by $34.10 per share, or approximately 28%, from $123.86 per share on May 21, 2026 to close at $89.7 6 on May 22, 2026. What are my Next Steps?
If you purchased or otherwise acquired Futu shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.
This article was written and reviewed by Doug Nathman and his team at Trefis. For questions, email [email protected].
The company is narrating a tale of explosive growth driven by AI, yet it is their approach to achieving it that has truly captivated Wall Street.
When a corporation informs you that next quarter's earnings are expected to surge by 47% sequentially, you take note. When they assert that revenue will rise by 19% in that same timeframe, you pay heed. And when Seagate (STX)’s executives made such claims on April 28, 2026, the market didn’t just listen; it propelled the stock upward by +46.1% since then.
Sign with logo on facade of headquarters of hard drive and computer hardware maker Seagate in the Silicon Valley, Fremont, California, July 28, 2018. (Photo by Smith Collection/Gado/Getty Images)
Getty Images
At first glance, this seems like a straightforward narrative of an AI-fueled data boom. However, a closer examination reveals a more intricate picture. The essential question isn’t whether Seagate is expanding, but how it plans to do so. The company is surfing one of the most intense demand waves in the technology sector, but their primary approach is to enhance the density of their hard drives rather than increasing their production quantity. Is this a brilliant strategy for profit maximization or a risky limitation on growth?
A New Era Of ExpansionFirstly, let’s clarify the magnitude of the narrative being presented by management. They are asserting that Seagate is now “entering a phase of structural growth.” Is this mere rhetoric? They have substantiated this by increasing their annual revenue growth forecast from the mid-teens to “at least 20% over the coming years.” This confident, forward-looking indication is precisely what prompts investors to reassess the company’s valuation. The narrative suggests that the unquenchable data hunger of AI isn’t just a fleeting spike; it represents a new standard.
Increasing Data, Not More DrivesThis is where it becomes particularly intriguing. In the midst of a gold rush, one typically expects miners to purchase additional shovels. Yet, Seagate intends to create a superior shovel. Management has been unambiguous: “The total number of units is not really increasing.” Rather than amplifying unit production, the entire emphasis is on areal density, packing more and more terabytes onto each disk. This methodology has substantial repercussions on the financials. By providing additional capacity without a corresponding rise in materials or manufacturing output, margins have skyrocketed. The company’s operating margin currently stands at 29.5%, a stark contrast to its 12.2% three-year average.
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Nevertheless, limiting unit quantities to concentrate entirely on density optimization introduces execution risks if infrastructure pipelines face disruptions. This tension isn’t unique to Seagate; it mirrors broader structural obstacles affecting the high-performance hardware landscape. A notable illustration of this situation is examined in our post “The Warning Sign Within Arista Networks Stock’s Positive News,” where remarkable AI-driven demand has outpaced supply-chain capability, raising market concerns regarding margin pressures and component shortages.
The Tape Agrees, LoudlyCurrently, Wall Street is fully invested in this high-density wager. To claim that the stock has outperformed the market would be an understatement; it has vastly outperformed it, achieving an incredible +574.9% over the past 12 months, while the S&P 500 garnered +24.4%. The price resides significantly above its 50- and 200-day moving averages, a classic hallmark of a robust uptrend. Even the options market is preparing for remarkable activity, with implied volatility in the 98th percentile of its one-year range, indicating expectations of exceptionally large price fluctuations ahead.
The market has absorbed the narrative of disciplined growth and witnessed the ensuing profit surge, and it has come to the conclusion that less (units) actually translates to more (profits). With management asserting that its high-capacity “nearline capacity is nearly completely allocated through calendar 2027,” the gamble has been made. But can Seagate’s technological development maintain sufficient density to meet an AI boom that demands everything simultaneously?
SINGAPORE--(BUSINESS WIRE)--Seagate Technology Holdings plc (NASDAQ: STX) (“Seagate” or “Company”) and Seagate HDD Cayman, a subsidiary of Seagate (“Seagate HDD”), today announced that Seagate HDD has issued a notice to holders of Seagate HDD’s 3.50% Exchangeable Senior Notes due 2028 (the “notes”) calling for redemption (the “redemption”) of all outstanding notes.
On September 8, 2026 (the “redemption date”), all then-outstanding notes that are called for redemption and have not been submitted for exchange will be redeemed for cash at a price (the “redemption price”) equal to the principal amount of such notes plus accrued and unpaid interest on such notes to, but excluding, the redemption date. On the redemption date, the redemption price will become due and payable upon each note to be redeemed and interest thereon will cease to accrue on and after the redemption date (unless Seagate HDD fails to pay the redemption price due on the redemption date in full, in which case interest thereon will continue to accrue until such time as Seagate HDD pays such redemption price in full).
The notes may be exchanged by holders at any time before 5:00 p.m. (New York City time) on September 3, 2026 (the “exchange deadline”) (or, if Seagate HDD fails to pay the redemption price due on the redemption date in full, at any time until such time as Seagate HDD pays such redemption price in full). The exchange rate for notes exchanged after today and through the exchange deadline is currently equal to 12.1363 ordinary shares of Seagate, par value $0.00001 per share (the “ordinary shares”), per $1,000 principal amount of the notes, and will be adjusted on June 25, 2026 as a result of the Company’s previously announced dividend of $0.74 per ordinary share pursuant to Section 7.05(d) of the indenture governing the notes, dated as of September 13, 2023 among Seagate HDD, the Company, Seagate Technology Unlimited Company and Computershare Trust Company, National Association, as trustee. The principal amount of any notes submitted for exchange shall be paid in cash, and Seagate HDD has elected to settle the remainder of its exchange obligations in excess of the principal amount for notes exchanged after today and through the exchange deadline by delivering ordinary shares, together with cash, if applicable, in lieu of delivering any fractional ordinary shares.
The notes called for redemption must be delivered to the paying agent (in the case of physical notes) or in compliance with the rules and procedures of DTC (in the case of global notes) to receive the redemption price. The name and address of the paying agent and the exchange agent to surrender the Notes (CUSIP: 81180WBL4) is:
Holders who have questions or who wish to discuss the redemption may contact Computershare Trust Company, N.A. by telephone at 1-800-344-5128 or by email at [email protected]. Please refer to the CUSIP number (CUSIP: 81180WBL4) when making inquiries to the paying agent and the exchange agent.
Seagate HDD expects to eliminate approximately $150.7 million of debt, which represents all currently outstanding notes that have not been submitted for exchange, through a combination of voluntary exchanges by noteholders and Seagate HDD’s redemption of any notes that have not been exchanged through the redemption date.
About Seagate
Seagate (NASDAQ: STX) is a pioneer in mass-capacity data storage, accelerating ability to harness the full value of data. Our portfolio of advanced storage solutions helps hyperscale cloud providers, enterprises, and consumers protect, create and manage the data that powers their transformation and growth. For more than 45 years, Seagate has driven breakthrough innovations that bring sustainable, high-performance storage to the world at-scale.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the planned redemption of the notes. Forward-looking statements generally can be identified by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “should,” “may,” “will,” “will continue,” “can,” “could,” or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on information available to the Company as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, performance or events to differ materially from historical experience and the Company’s present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s latest periodic report on Form 10-Q or Form 10-K filed with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.
Seagate (STX) has rallied strongly with other AI memory chip stocks like Micron (MU) and SanDisk (SNDK), though shares face strong resistance despite getting bullish momentum from analysts. @CharlesSchwab's Rachel Dashiell highlights key levels investors should watch in the stock.
Key Takeaways STX generated $953M in Q3 free cash flow, up 57% sequentially with a 31% margin.Seagate's data center revenues surged 55%, driving 44% overall revenue growth.STX is reducing debt and returning capital while maintaining disciplined capex levels. Seagate Technology Holdings plc (STX - Free Report) is witnessing strengthening cash flows, with free cash flow (“FCF”) reaching $953 million in the third quarter of fiscal 2026, up 57% sequentially and the highest level in a decade, as highlighted by the management. This translated to a robust 31% FCF margin. Year to date, FCF stands at $1.987 billion.
Seagate is witnessing explosive demand for its storage solutions amid the proliferation of AI. This has resulted in strong revenue growth and improved profitability numbers. Quarterly non-GAAP revenues of $3.11 billion exceeded the Zacks Consensus Estimate by 5.7% and rose 44% year over year. The shift toward inference-driven workloads, agentic AI and multimodal applications is leading to exponential growth in data creation and storage needs, added Seagate.
The data center segment accounted for 80% of total revenues, at $2.5 billion, representing a 55% year-over-year growth. Seagate shipped 199 exabytes of HDD storage, up 39% year over year and 5% sequentially.
Non-GAAP income from operations of $1.167 billion rose $507 million from a year ago. Non-GAAP operating margin increased to 37.5% from 23.5% year over year. Non-GAAP adjusted EBITDA of $1.2 billion more than doubled from the prior-year quarter.
Moreover, capital discipline remains intact. Capital expenditures were $151 million, or nearly 4% of revenues, aligning with the company’s targeted range. This disciplined investment approach, alongside operational efficiencies, is allowing more earnings to translate into free cash flow.
Seagate expects FCF generation to improve through the remaining quarter in calendar 2026, buoyed by robust demand, operational efficiencies and capital discipline. The company is using this cash to fortify its balance sheet, having reduced gross debt by $1.1 billion year to date, while also returning capital ($191 million to its shareholders via dividends in the fiscal third quarter) to shareholders.
The company will maintain capital discipline while continuing the transition and ramp-up of HAMR technology, with fiscal 2026 capital spending expected to remain within its target range of 4-6% of revenues. STX is also focused on reducing its leverage.
FCF Numbers for CompetitorsWestern Digital Corporation (WDC - Free Report) is one of Seagate’s closest competitors and one of the beneficiaries of the AI cycle. It generated $1.1 billion in cash from operations compared with $508 million in the prior-year quarter in the fiscal third quarter. Western Digital’s disciplined capex of $145 million helped drive a strong free cash flow of $978 million, up 124% year over year.
The company repurchased shares worth $752 million and paid $43 million in dividends. Western Digital has returned a total of $2.2 billion to its shareholders through buybacks and dividends since launching the capital return program in the fourth quarter of fiscal 2025.
NetApp (NTAP - Free Report) continues to benefit from demand for modern all-flash arrays that support enterprise modernization and AI workloads. For the fourth quarter of fiscal 2026, net cash from operations came in at $950 million compared with $675 million in the previous-year quarter. Free cash flow was $900 million (free cash flow margin of 46.2%) compared with $640 million in the prior-year quarter (37%).
NetApp returned $303 million to its shareholders during the quarter through $200 million in share repurchases and $103 million in dividends. NetApp returned $1.36 billion to its shareholders through dividends and buybacks for fiscal 2026.
STX Price Performance, Valuation and EstimatesIn the past month, STX’s shares are up 6.2% compared with Zacks Computer Integrated Systems industry’s growth of 17.9%.
Image Source: Zacks Investment Research
In terms of forward price/earnings, STX’s shares are trading at 33.68X, up from the industry’s 17.67X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for STX’s earnings for fiscal 2026 has been revised up 15.3% to $14.89 over the past 60 days.
Image Source: Zacks Investment Research
Currently, Seagate sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Seagate Technology Holdings STX shares climbed sharply on Friday as investors responded positively to the company's efforts to strengthen its balance sheet and capitalize on growing demand for data storage driven by artificial intelligence.
The data storage manufacturer saw its stock rise 8.3% in trading after announcing plans to redeem all outstanding 3.50% Exchangeable Senior Notes due 2028.
The move is expected to eliminate approximately $150.7 million in debt, improving Seagate's capital structure and enhancing its financial flexibility.
The debt reduction announcement comes amid a period of strong operational performance for the company, which has benefited from accelerating demand for storage infrastructure as AI adoption expands across industries.
Seagate has emerged as one of the beneficiaries of the rapid growth in artificial intelligence workloads, which require vast amounts of data storage and management capacity.
The company recently raised its annual revenue growth forecast to at least 20%, citing robust demand from AI-related applications.
Management also disclosed that its nearline storage capacity is almost fully allocated through calendar year 2027, providing significant visibility into future revenue streams.
The company reported non-GAAP revenue of $3.11 billion in the third quarter of fiscal 2026, increasing 44% from a year earlier.
According to management, the growing shift toward inference-driven workloads, agentic AI, and multimodal applications is contributing to a sharp increase in data creation and storage requirements.
The data center business remained Seagate's primary growth engine during the quarter.
Revenue from the segment reached $2.5 billion, accounting for approximately 80% of total company revenue and representing year-over-year growth of 55%.
Seagate also shipped 199 exabytes of hard disk drive storage during the quarter, up 39% from the prior year and 5% sequentially.
Strong operating performance translated into significant cash generation for the company.
Seagate reported free cash flow of $953 million during the third quarter of fiscal 2026, an increase of 57% sequentially and the highest quarterly level in a decade.
Management highlighted that the figure represented a free cash flow margin of 31%.
Year-to-date free cash flow reached $1.987 billion, underscoring the company's ability to convert revenue growth into cash generation.
The company's profitability metrics also remained strong.
Seagate reported a gross margin of 46.5%, reflecting effective cost management and profitability levels that exceed many industry peers.
Revenue growth of 44.07% over the most recent three-month period also outpaced the average growth rate among peers in the information technology sector.
While investors welcomed Seagate's operational momentum, a recent insider transaction also attracted market attention.
According to a Form 4 filing with the US Securities and Exchange Commission, Executive Vice President and Chief Technology Officer John C. Morris sold 573 shares of Seagate stock on June 11.
The transaction was valued at approximately $471,426.
Despite the insider sale, Seagate shares continued to advance as investors focused on the company's growth outlook and AI-driven demand trends.
Seagate remains one of the leading suppliers of hard disk drives globally, operating in what is effectively a duopoly alongside Western Digital.
However, the company continues to face some financial challenges.
Its debt-to-equity ratio stands at 3.82, higher than the industry average, indicating elevated financial leverage despite the recent debt reduction initiative.
SailPoint (SAIL) remains a hold as Q1 results, while solid, did not demonstrate a clear acceleration from emerging products or non-human identity adoption. Q1 2027 revenue grew 21.6% y/y to $280.1M, with SaaS ARR up ~36% y/y, but management did not meaningfully raise guidance. Emerging products contributed 20% of net new ARR, and non-human identities now represent 14% of cloud-managed identities, supporting the long-term platform narrative.
SailPoint stock fell approximately 12% on June 9, 2026, despite reporting a Q1 earnings beat -- investors reacted to a weaker forward outlook that management had not previously signaled.
NEW YORK--(BUSINESS WIRE)--SailPoint, Inc. (NASDAQ: SAIL) lost roughly 12% of its market value today following the Company’s Q1 2027 earnings release and forward guidance. The decline reduced the company's market capitalization significantly and reflected investor reaction to management's outlook for future performance. Shareholders who suffered losses on their SAIL investment are encouraged to submit their information here. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
SailPoint reported Q1 FY2027 adjusted EPS above consensus expectations and strong year-over-year revenue growth. However, management’s outlook for future quarters was more cautious and warned that foreign-exchange headwinds would dampen annual recurring revenue growth. Following the earnings release and guidance, the stock declined sharply despite the quarterly beat.
Levi & Korsinsky is investigating whether SailPoint may have made materially misleading statements regarding its growth trajectory and near-term profitability prior to the June 9 disclosure. The investigation focuses on whether the company's prior public communications adequately reflected the risks that surfaced in today's guidance.
If you purchased SailPoint shares and suffered a loss, click here to discuss your legal rights. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.
Frequently Asked Questions About the SAIL Investigation
Q: What is the SAIL securities fraud investigation about? A: A securities fraud investigation has been initiated concerning SailPoint, Inc. (NASDAQ: SAIL) regarding potentially materially false and misleading statements about the company's growth outlook and near-term profitability. Shares fell approximately 12% after the company disclosed a negative forward EPS forecast and reduced growth expectations on June 9, 2026, causing significant losses for shareholders.
Q: Who is conducting the SAIL investigation? A: Levi & Korsinsky, LLP is investigating potential securities fraud on behalf of investors who purchased SAIL securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.
Q: What do SAIL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What if I already sold my SAIL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought SAIL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: Nothing. Securities investigations are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What is a lead plaintiff and why does it matter? A: If the investigation proceeds to legal action, a lead plaintiff is the investor the court appoints to represent the group of affected investors. Lead plaintiffs are typically investors with the largest documented losses. Contacting the firm during the investigation phase preserves that option.
SailPoint, Inc. (NASDAQ: SAIL) lost roughly 12% of its market value today following the Company’s Q1 2027 earnings release and forward guidance. The decline reduced the company's market capitalization significantly and reflected investor reaction to management's outlook for future performance. Shareholders who suffered losses on their SAIL investment are encouraged to submit their information here. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
SailPoint reported Q1 FY2027 adjusted EPS above consensus expectations and strong year-over-year revenue growth. However, management’s outlook for future quarters was more cautious and warned that foreign-exchange headwinds would dampen annual recurring revenue growth. Following the earnings release and guidance, the stock declined sharply despite the quarterly beat.
Levi & Korsinsky is investigating whether SailPoint may have made materially misleading statements regarding its growth trajectory and near-term profitability prior to the June 9 disclosure. The investigation focuses on whether the company's prior public communications adequately reflected the risks that surfaced in today's guidance.
If you purchased SailPoint shares and suffered a loss, click here to discuss your legal rights. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.
Frequently Asked Questions About the SAIL Investigation
Q: What is the SAIL securities fraud investigation about? A: A securities fraud investigation has been initiated concerning SailPoint, Inc. (NASDAQ: SAIL) regarding potentially materially false and misleading statements about the company's growth outlook and near-term profitability. Shares fell approximately 12% after the company disclosed a negative forward EPS forecast and reduced growth expectations on June 9, 2026, causing significant losses for shareholders.
Q: Who is conducting the SAIL investigation? A: Levi & Korsinsky, LLP is investigating potential securities fraud on behalf of investors who purchased SAIL securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.
Q: What do SAIL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What if I already sold my SAIL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought SAIL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: Nothing. Securities investigations are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What is a lead plaintiff and why does it matter? A: If the investigation proceeds to legal action, a lead plaintiff is the investor the court appoints to represent the group of affected investors. Lead plaintiffs are typically investors with the largest documented losses. Contacting the firm during the investigation phase preserves that option.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260611898469/en/
Shares of SailPoint, Inc. (SAIL - Free Report) have gained 24.6% over the past four weeks to close the last trading session at $14.71, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $19.39 indicates a potential upside of 31.8%.
The mean estimate comprises 23 short-term price targets with a standard deviation of $2.33. While the lowest estimate of $16.00 indicates an 8.8% increase from the current price level, the most optimistic analyst expects the stock to surge 70% to reach $25.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in SAIL. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why SAIL Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 2.6%.
Moreover, SAIL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much SAIL could gain, the direction of price movement it implies does appear to be a good guide.
NEW YORK, June 12, 2026 (GLOBE NEWSWIRE) -- Shareholders who held SailPoint, Inc. (NASDAQ: SAIL) lost approximately 12% of their investment value on June 9, 2026, after management's forward guidance undercut the growth trajectory the Company had previously projected. Those who suffered losses on their SAIL holdings are encouraged to submit their information to Levi & Korsinsky. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
Levi & Korsinsky is investigating whether SailPoint adequately disclosed headwinds that materialized in its forward outlook. In its Q4 2026 earnings call on March 18, 2026, management projected continued momentum and highlighted expanding demand across its identity security platform. On June 9, 2026, SailPoint released Q1 FY 2027 results that included a negative EPS forecast for the coming quarter and warned that foreign-exchange volatility would dampen annual recurring revenue growth. The stock fell approximately 12% the same day.
SAIL investors who lost money are encouraged to contact Levi & Korsinsky to discuss their legal rights. You may also reach Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
Frequently Asked Questions About the SAIL Investigation
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether SailPoint made materially false or misleading statements regarding its forward growth outlook and the sustainability of its revenue and earnings trajectory. When the actual guidance was disclosed on June 9, 2026, the stock price declined sharply.
Q: How much did SAIL stock drop? A: Shares fell approximately 12% on June 9, 2026, after management disclosed a negative EPS forecast and foreign-exchange headwinds that had not been previously signaled to investors.
Q: What do SAIL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What is a lead plaintiff and why does it matter? A: If the investigation proceeds to legal action, a lead plaintiff is the investor the court appoints to represent the group of affected investors. Lead plaintiffs are typically investors with the largest documented losses. Contacting the firm during the investigation phase preserves that option.
Q: What if I already sold my SAIL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought SAIL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: Nothing. Securities investigations and any resulting actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I live outside the United States? A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
Identity security company SailPoint (SAIL +1.39%) wasn't feeling like a particularly secure investment over the past few trading days. Following the release of quarterly results that looked good at first glance but soon raised concerns, investors assertively traded out of the specialty tech stock.
As of Friday afternoon, it was down by almost 23% week to date, according to data compiled by S&P Global Market Intelligence.
In-line performance SailPoint unfurled its first quarter of fiscal 2027 results on Tuesday, revealing that total revenue rose by 22% year over year to $280 million. This was on the back of a 23% rise in subscription revenue.
Image source: Getty Images.
Income not under generally accepted accounting principles (GAAP) experienced a much steeper rise, increasing more than eightfold to $28.4 million ($0.05 per share) from the year-ago profit of $3.2 million.
SailPoint's headline figures only slightly exceeded the average analyst estimates. The pundit consensus for revenue was $276 million, while that for non-GAAP (adjusted) net income was $0.04 per share.
In the earnings release, the highly specialized tech company attributed its gains to organic demand for more robust identity security solutions. Tightening rules for this form of protection also played a role, meanwhile the company feels the artificial intelligence (AI) baked into its solutions also attracts business.
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The need to exceed SailPoint also proffered guidance for its current (second) quarter, and for the entirety of this fiscal year. For the latter period, it's forecasting nearly $1.27 billion to almost $1.28 billion for revenue, and adjusted net income of $0.30 to $0.34 per share. These are broadly in line with analyst estimates.
And that, I feel, is the problem. Software stocks have been under pressure lately, so they need to outperform expectations rather than simply meet them. In SailPoint's case, though, by most measures the company is doing well at a time when its identity security protections are becoming increasingly necessary. This week's sell-off feels harsh and a bit overblown.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
ALAB is evolving from a retimer supplier into the connectivity fabric layer for AI racks. 76% gross margins and a shrinking GAAP/non-GAAP gap set up an institutional re-rating catalyst. Amazon's $6.5B warrant deal is a demand moat, not a discount program.
Astera Labs Inc. (NASDAQ:ALAB) shares are in focus Friday after Nasdaq announced its quarterly index reconstitution — with ALAB set to join the Nasdaq-100 effective before market open on June 22.
Astera stock is challenging resistance. Why is ALAB stock breaking out? The Index InclusionThe BusinessAstera Shares RiseALB Price Action: At the time of publication, Astera shares are trading 4.09% higher at $382.50, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Key Takeaways Several tech stocks rallied Friday following the news that they will be added to the Nasdaq 100 later this month.The group includes Nvidia-backed CoreWeave and Nebius Group, along with Astera Labs, Teradyne, and Rocket Lab. Get personalized, AI-powered answers built on 27+ years of trusted expertise.
Five new stocks are set to join the Nasdaq 100 index later this month, including a pair backed by AI chip leader Nvidia.
Nasdaq said late Thursday that semiconductor company Astera Labs (ALAB), cloud computing provider CoreWeave (CRWV), AI cloud company Nebius Group (NBIS), aerospace manufacturer Rocket Lab (RKLB), and automatic test equipment maker Teradyne (TER) will be added to the index as part of its quarterly rebalancing, with the changes taking effect on June 22.1
Shares of CoreWeave and Nebius jumped about 5% Friday following the news, while Teradyne added close to 6%, on a day when tech stocks gained broadly. Astera Labs surged as much as 6% before giving up those gains later in the session, while Rocket Lab shares slid close to 11% as investors flocked to Elon Musk's SpaceX (SPCX), the new space stock dominating today's headlines.
Why This Matters to Investors Inclusion in an index can benefit a stock in a number of ways, including introducing it to new investors, and driving funds that track the index to buy the stock.
Friday's gains add to what's already been a strong year so far for CoreWeave and Nebius, which have also been boosted by signing deals with a number of big tech companies, and from securing investments from Nvidia (NVDA), the world's most valuable company. Shares of Coreweave have surged 40% since the year began, though they remain well off their highs last June, while Nebius shares have soared close to 200% year-to-date and 400% over the past 12 months.
Astera Labs, which is an Nvidia supplier, and Nvidia partner Teradyne have both seen their stocks roughly double in value in 2026. Astera's stock is up some 300% and Teradyne nearly 400% from this time last year.
The new group of stocks in the index will replace Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), Zscaler (ZS), which have all taken a hit in recent months.
AUSTIN, Texas, June 11, 2026 (GLOBE NEWSWIRE) -- Swarmer, Inc. (“Swarmer”) (NASDAQ: SWMR), a drone autonomy software company which has supported more than 100,000 real-world combat missions in Ukraine since April 2024, today issued a letter from its Chairman, Erik Prince.
Dear Shareholders,
I am writing this letter after returning from five days on the ground in Ukraine, where I visited some of the most innovative defense technology companies operating anywhere in the world today. These are not companies building to a specification or a procurement cycle. They are building to survive testing their assumptions daily against real adversaries, iterating in hours rather than years, and producing results that are redefining what effective defense looks like. That experience deepened my conviction in everything that follows.
The broader geopolitical backdrop has never made this mission more urgent. As the United States moves to seize and redirect billions in frozen Iranian assets and as conflicts from Eastern Europe to the Gulf continue to accelerate demand for sovereign, affordable defense capability, the window for companies like Swarmer to establish themselves as the platform of record for battlefield-proven technology is opening fast.
Since becoming Chairman of Swarmer, I have become increasingly convinced that the company’s opportunity extends well beyond its current software platform. While Swarmer’s autonomy and battlefield management technologies remain at the core of our business, our broader objective is to build a platform company that can identify, acquire, partner with, and help scale innovative defense and security technology companies whose products have been battlefield tested and proven effective under demanding operational conditions.
Many also face a strategic dilemma. While their businesses may be experiencing strong momentum today, they recognize that when the war ends, demand within Ukraine could change significantly, creating concentration and market risk. By providing capital, strategic support, access to international customers, and a pathway into new markets, we believe Swarmer can help these entrepreneurs diversify their businesses beyond a single geography. In turn, this can give founders greater confidence to continue investing, hiring, and innovating within Ukraine today, knowing they have a credible path toward long-term global growth.
Importantly, many of these discussions are not new. We continue to build a pipeline of potential acquisitions, partnerships, and strategic relationships that we believe can accelerate growth and create long-term shareholder value. We are currently seeing strong momentum with several of these opportunities and, while there can be no assurance that any particular transaction will be completed, we hope to provide shareholders with additional color on our progress in the coming weeks. To support this objective, we recently filed a Form S-1 to register the resale of up to 3 million shares of common stock. There are three important points I would like to emphasize:
First, this filing simply registers for resale shares that the Board may elect to sell to a single investor over time pursuant to an equity facility. It is not a single offering, and no decision has been made regarding the timing, amount, or pace of any future sales. This instrument provides flexibility should attractive opportunities emerge.
Second, the structure allows shares to be sold at prevailing market prices, subject to a modest 2% discount. We believe this represents one of the lowest-cost sources of growth capital available to the company while allowing us to raise funds responsibly and opportunistically rather than through a large, dilutive financing.
Third, access to capital matters. The defense technology landscape is evolving rapidly, and we believe attractive acquisition, investment, and partnership opportunities may become available as entrepreneurs seek strategic partners capable of helping them expand internationally. Having the ability to move quickly can be a significant competitive advantage.
Our goal is to position Swarmer not only as a developer of world-class software, but as a broader platform capable of identifying, scaling, and commercializing proven defense technologies for customers worldwide.
We remain focused on disciplined execution, prudent capital allocation, and building long-term value for our shareholders.
Thank you for your continued support.
Erik Prince
Chairman
Swarmer, Inc.
About Swarmer
Swarmer™ is a defense technology company that specializes in vendor-agnostic software which allows one operator to intuitively control hundreds of autonomous platforms in real time. Swarmer’s primary mission areas include autonomous swarm coordination, integration of multi-domain unmanned systems and AI-powered autonomy software for distributed operations. Swarmer is not a drone manufacturer and does not depend on any single platform, supplier or hardware lifecycle. Instead, Swarmer operates at the intelligence layer, developing autonomy, coordination and decision-making software that enables large numbers of low-cost unmanned systems to operate collectively as one coherent, resilient force. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024. Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data that informs its machine-learning models and enables the replication of advanced pilot performance at scale. Swarmer’s routine use in combat missions generates continuous streams of telemetry, sensor data and operational feedback which are then used to refine performance, increase resilience and accelerate learning. Swarmer has headquarters in Austin, Texas, and maintains operations and teams in Ukraine, Poland and Estonia.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about Swarmer’s strategy, market opportunity, customer engagement, product development, technology integrations, expansion into new markets, future revenue opportunities, expected customer mix, potential deployments, and the anticipated benefits of the Company’s relationships, memoranda of understanding, partnerships, and other commercial initiatives. Forward-looking statements are based on current expectations, estimates, forecasts, and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
These risks and uncertainties include, among others: the Company’s limited operating history as a public company; its history of losses and limited current revenue; customer concentration and the timing, non-renewal, or loss of customer engagements; the Company’s ability to convert pilot programs, memoranda of understanding, and development-stage relationships into binding commercial contracts or revenue; defense procurement cycles and government budget priorities; geopolitical conditions affecting operations, customers, suppliers, and deployments in Ukraine and other regions; export control, sanctions, defense trade, procurement, and other regulatory requirements; competition in the defense technology and autonomous systems markets; the Company’s ability to develop, validate, scale, and integrate its software across third-party unmanned platforms; risks associated with artificial intelligence, machine learning, data availability, data quality, cybersecurity, and operational performance in real-world environments; reliance on key personnel and technical talent; the Company's ability to identify, evaluate, complete, and successfully integrate acquisitions, investments, or strategic transactions on favorable terms or at all; the risk that anticipated benefits of any such transactions may not be realized or may take longer to realize than expected; potential dilution to existing stockholders resulting from future issuances of common stock, including pursuant to the Company's equity facility; the Company's ability to deploy capital raised through any equity facility on attractive terms or in a timely manner; risks associated with international expansion, including compliance with the International Traffic in Arms Regulations (ITAR), the Export Administration Regulations (EAR), and foreign regulatory and licensing requirements applicable to defense and dual-use technologies; the potential for changes in geopolitical conditions, including the resolution or de-escalation of the conflict in Ukraine, to materially reduce demand for the Company's products, services, or those of its partners and acquisition targets; the Company's ability to help portfolio companies or partners successfully scale, commercialize, or enter new markets; supply chain and manufacturing constraints affecting the Company’s customers or partners; and the other risks described in the Company’s filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.
Shares of Aduro Clean Technologies Inc. (ADUR - Free Report) have gained 21.3% over the past four weeks to close the last trading session at $15.46, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $30.92 indicates a potential upside of 100%.
The average comprises three short-term price targets ranging from a low of $22.00 to a high of $46.00, with a standard deviation of $13.13. While the lowest estimate indicates an increase of 42.3% from the current price level, the most optimistic estimate points to a 197.5% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for ADUR, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why ADUR Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 38.7% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, ADUR currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much ADUR could gain, the direction of price movement it implies does appear to be a good guide.
LONDON, Ontario, June 11, 2026 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, today announced the closing of its underwritten U.S. and Canadian public offering (the “Public Offering”) of 1,028,645 common shares at a price of US$15.20 (C$21.20) per common share for gross proceeds to the Company of US$15,635,404, before deducting underwriting discounts and offering expenses.
Canaccord Genuity acted as sole bookrunning manager and representative of the several underwriters in connection with the Public Offering.
Aduro intends to use the net proceeds from the Public Offering for expenditures related to the design, engineering and construction of its first-of-a-kind demonstration-scale industrial plant (the “FOAK Plant”), ongoing research and development costs and the remainder for general corporate purposes and working capital.
The Public Offering was made concurrently in the United States and in the Canadian provinces of British Columbia and Ontario pursuant to an effective shelf registration statement on Form F-10, as amended (File No. 333-292023), previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 15, 2025, and effective upon filing, and the Company’s Canadian short form base shelf prospectus dated December 15, 2025, as supplemented by the prospectus supplement dated June 10, 2026.
The base shelf prospectus and the prospectus supplement relating to the Public Offering have been filed with the securities regulatory authorities in British Columbia and Ontario and with the SEC in the United States, and are available for free under the Company’s profiles on SEDAR+ maintained by the Canadian Securities Administrators at www.sedarplus.ca and on the SEC’s website for EDGAR at www.sec.gov, as applicable. Copies of the prospectus supplement and accompanying base shelf prospectus may also be obtained from Canaccord Genuity LLC, Attn: Syndication Department, 1 Post Office Square, 30th Floor, Boston, MA 02109, or by email at [email protected].
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation, or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
All foreign exchange calculations set forth in this press release are based on the exchange rate posted by the Bank of Canada on June 9, 2026 of US$1 = C$1.3947. The Public Offering was conditionally approved by the Toronto Stock Exchange (“TSX”) and remains subject only to customary post-closing conditions of the TSX.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Abe Dyck, Head of Corporate Development / Investor Relations [email protected]
+1 226 784 8889
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable United States securities laws, and “forward-looking information” within the meaning of Canadian securities laws (collectively, “forward-looking statements”). All statements, other than statements of historical facts, included in this press release are forward-looking statements. The material factors and assumptions used to develop the forward-looking statements contained in this press release include the Company’s understanding and belief of current market conditions; approved business plans and regulatory approvals with respect to the FOAK Plant and other pilot plants; continued progress in research and development activities; results of ongoing test work for technological and process improvements; the Company’s experience with regulators; and the continuation of positive economic conditions. When used in this press release, the words “plan”, “potential,” “indicate,” “expect,” “intend,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, references to the Company’s anticipated use of net proceeds from the Public Offering, statements regarding final regulatory approvals for the Public Offering and the anticipated receipt thereof. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to factors that result in changes to the Company’s anticipated use of proceeds, including those which may affect the Company’s expectations with respect to its FOAK Plant or other pilot plants. These and other risks and uncertainties are described more fully in the section captioned “Risk Factors” in the Company’s Base Shelf Prospectus, Prospectus Supplement, management discussion and analyses, and its annual information form dated August 27, 2025, each of which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Forward-looking statements contained in this announcement are made as of the date hereof, and the Company undertakes no duty to update such information except as required under applicable law, including the securities laws of the United States and Canada.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a55c344-bdb5-494c-a57d-6bf7db9c268e
, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Matrix Service Company ("Matrix" or the "Company") (NASDAQ: MTRX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Matrix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 6, 2026, Matrix issued a press release announcing its financial results for the third quarter of its 2026 fiscal year. Among other items, Matrix reported revenue of $206.71 million, missing consensus estimates by $24.81 million. The Company also lowered its fiscal year 2026 revenue guidance to a range of $870 million to $890 million, compared to its previous guidance of $875 million to $925 million, representing a 2% decrease at the midpoint.
On this news, Matrix's stock price fell $1.64 per share, or 11.88%, to close at $12.16 per share on May 7, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Oscar Health, Inc. (OSCR - Free Report) ended the recent trading session at $28.26, demonstrating a -2.25% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Elsewhere, the Dow gained 0.7%, while the tech-heavy Nasdaq added 0.31%.
The company's shares have seen an increase of 24.88% over the last month, surpassing the Finance sector's gain of 1.89% and the S&P 500's loss of 0.23%.
The investment community will be paying close attention to the earnings performance of Oscar Health, Inc. in its upcoming release. The company is expected to report EPS of $0.34, up 138.2% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.83 billion, indicating a 68.58% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.47 per share and revenue of $18.7 billion. These totals would mark changes of +127.81% and +59.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Oscar Health, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Oscar Health, Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oscar Health, Inc. has a Forward P/E ratio of 61.51 right now. This denotes a premium relative to the industry average Forward P/E of 9.71.
We can also see that OSCR currently has a PEG ratio of 2.02. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Insurance - Multi line industry currently had an average PEG ratio of 0.86 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
SAN JOSE, Calif.--(BUSINESS WIRE)--Momentus Inc. (NASDAQ: MNTS) (“Momentus” or the “Company”) a leading U.S. commercial space firm specializing in satellite solutions, in-space transportation, and orbital infrastructure, today announced that it has entered into securities purchase agreements with new and existing long term institutional investors for the purchase and sale of 1,851,852 shares of its common stock in a registered direct offering priced at-the-market under Nasdaq rules (the “Offering”). The gross proceeds from the Offering are expected to be approximately $25 million, before deducting placement agent fees and other estimated Offering expenses.
The closing of the Offering is expected to occur on or about June 15, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering.
The securities described above are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-296218) which became effective on June 4, 2026. The Offering is being made only by means of a prospectus which is part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the Offering will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC's website located at http://www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement and the accompanying prospectus may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Momentus
Momentus is a U.S. commercial space company offering satellites, satellite components, and in-space transportation and infrastructure services. The Company offers satellites to support government and commercial customers for missions like communications, missile tracking, and cutting-edge science missions. Momentus offers services such as hosted payloads, support for in-space assembly, on-orbit servicing and refueling, and transportation of satellites to specific orbits.
Forward-Looking Statements
This press release contains certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the expected closing of the Offering, the intended use of proceeds and fulfillment of customary closing conditions. These statements reflect Momentus’ or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on March 31, 2026, as such factors may be updated from time to time in our other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at https://momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
11 June 2026 Northern Venture Trust PLC Annual Report and Financial Statements for the year ended 31 March 2026 Northern Venture Trust PLC is a Venture Capital Trust (VCT) advised by Mercia Fund Management Limited. The trust was one of the first VCTs launched on the London Stock Exchange in 1995.
11 JUNE 2026 NORTHERN VENTURE TRUST PLC STATEMENT REGARDING INTENTION TO FUNDRAISE Northern Venture Trust PLC (“the Company”) is pleased to announce that, subject to obtaining any required shareholder or regulatory approvals, in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC (together with the Company known as the “Northern VCTs”), it intends to launch a joint offer of new ordinary shares for subscription in the 2026/27 tax year (“the Offer”). It is envisaged that the Offer will seek to raise up to £10 million for the Company.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Powell Industries (POWL - Free Report) .
Powell Industries currently has an average brokerage recommendation (ABR) of 2.00, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by six brokerage firms. An ABR of 2.00 indicates Buy.
Of the six recommendations that derive the current ABR, three are Strong Buy, representing 50% of all recommendations.
Brokerage Recommendation Trends for POWL
Check price target & stock forecast for Powell Industries here>>>
The ABR suggests buying Powell Industries, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is POWL a Good Investment?Looking at the earnings estimate revisions for Powell Industries, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $5.47.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Powell Industries. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Powell Industries.
SpaceX opened at $150 per share in its Nasdaq debut on Friday, making Elon Musk the world's first trillionaire and vaulting the company past a $2 trillion market capitalization. Here's how experts are reacting to one of the most historic IPOs in market history.
The time has finally come. On Friday, Elon Musk's Space Exploration Technologies (SPCX +19.17%) -- popularly known as SpaceX -- hit the Nasdaq. While the offering price remained fixed at $135 per share, shares had popped by 25% to about $175 as of 2:30 p.m. ET on the initial public offering (IPO) day. It closed the session at $160.95.
At this point, SpaceX's market capitalization is about $2.1 trillion -- making it one of the most valuable companies in the world. Clearly, retail and institutional investors alike rushed in with overwhelming enthusiasm once the stock hit the public exchanges.
Candidly, this kind of momentum is not uncommon for hot IPO stocks. In SpaceX's case, the day-one surge reflected broad confidence in the company's leadership across space exploration, satellite networks, and the emerging artificial intelligence (AI) business.
The question smart investors are asking is whether or not SpaceX stock can maintain its premium valuation. History offers a strikingly clear answer.
Why do IPO stocks pop when they first start trading? When it comes to IPOs, investors can be particularly eager to secure early positions in what they perceive as a category-defining business. A double-digit percentage opening-day gain is a strong signal that demand significantly exceeded the volume available shares at the offering price.
Strong debuts frequently occur with innovative, high-profile companies that capture public imagination. SpaceX has done that in spades. Yet smart investors understand that early momentum does not always translate into smooth sailing down the road. Rather, extreme valuation expansion often creates elevated expectations that amplify volatility.
These patterns underscore how IPO pricing and early trading behavior serve as real-time gauges of collective optimism as opposed to reliable evidence of a company's sustained value creation.
Image source: The Motley Fool.
A look at IPO stocks after one year of trading Brad Gerstner is one of the most lauded investors in Silicon Valley. He's been an early backer of numerous unicorns in the tech space -- most recently, leading Anthropic's $65 billion Series H financing round. Gerstner's firm, Altimeter, recently published an insightful graphic that illustrates the returns of high-profile IPO stocks during different periods after they listed. Historical records of public listings comparable to SpaceX's paint a mixed picture.
Across the 30 companies in Altimeter's report, the median 12-month return was negative 9% while the average return was 14%. Less than half of the stocks in the cohort generated a positive return one year after going public.
This distribution highlights that gains tend to cluster among a smaller number of standout businesses. Perhaps even more telling is the year-one maximum drawdown data, which captures the deepest interim declines from peak prices. Most companies on the list experienced drawdowns of at least 40%, with the median and average drops both hovering around 55%.
Some specific cases highlight the range of outcomes. Palantir Technologies delivered a jaw-dropping 153% return at the 12-month mark, yet suffered a 53% drawdown at one point during that year. More recently, CoreWeave generated an 87% gain, but along the way endured a 65% decline.
By contrast, when Facebook (now Meta Platforms) went public in 2012, the stock declined by 31% over its first 12 months of trading and had a 54% maximum drawdown. Meanwhile, Uber fell 21%, with a drop of 68% at one point.
Taken together, these examples demonstrate that one-year performance post-IPO often varies widely, and that the most consistent feature of such stocks is volatility.
While nobody can say for certain where SpaceX stock will be trading next summer, applying the patterns explored above suggests its trajectory will likely combine meaningful upside potential with substantial interim swings likely to occur between earnings reports.
Given the company's innovative profile and the strong share demand, SpaceX could behave more like long-term outperformers such as Palantir, Meta, or CrowdStrike.
At the same time, the whole data set clearly indicates that nearly all comparable IPOs experience meaningful drawdowns from their peak prices within the first year of trading. With that in mind, smart investors should anticipate periods of sharp reversals even if the longer-term direction remains positive.
With only a small minority of recent high-profile tech IPOs in positive territory after one year of trading, the prudent outlook should center on volatility rather than steady, linear appreciation. Fundamentals, execution on key projects -- especially in AI -- and broader macro conditions will ultimately shape SpaceX's outcome. Above all else, history shows that a strong debut alone does not shield any stock from meaningful corrections along the way.
SpaceX employees react to companys IPO Employees at SpaceXs facility in Hawthorne, California, share their thoughts on the companys initial public offering. (Splash News for Fox News Digital)
SpaceX's record-setting IPO is creating a financial windfall for thousands of the company's current and former employees who received stock as part of their compensation.
Workers who hold stock in non-public companies are subject to restrictions that can keep them from selling those shares under most circumstances before an IPO occurs. Once the stock goes public, it starts a timeline under which they can begin to sell some of those shares as so-called "lock-up periods" gradually allow employees to sell shares in tranches that expand over time.
The ranks of SpaceX workers who will see an influx of wealth as a result of the IPO include not only those who design the rockets and satellites that have made the company famous, but also baristas, janitors and other workers who helped keep the company running.
FOX Business spoke with workers outside of SpaceX's facility in Hawthorne, California, about their plans for the monumental IPO turning into a reality.
SPACEX MAKES HISTORIC DEBUT; MUSK SOLIDIFIES STATUS AS WORLD'S FIRST TRILLIONAIRE
SpaceX workers and former employees who received stock options have an opportunity to cash in a windfall following the company's IPO. (Reuters/Veronica G. Cardenas/File Photo)
One SpaceX employee, who said that he's a process planner, said that he wants to "try to stay healthy" and that the IPO is "a beautiful thing… I mean, Elon is the best. Go Elon!"
Another SpaceX employee said that, "I've been a millionaire for a while, but it's always nice to have money. It'll be great when the lock-up period is out, of course, and we can actually sell some of it and that'll feel a little more into the wealth, but it's a great day."
Juan Hernandez, who previously worked as a welder at SpaceX, told CBS News that when he was first hired by the company in 2015 he was offered $10,000 in stock. He explained that it "wasn't a big deal" to him at the time and, "I didn't know it was gonna be this big, at this point."
Ticker Security Last Change Change % SPCX SPACE EXPLORATION TECHNOLOGIES CORP. 160.95 +25.95 +19.22% Hernandez, who now works at Blue Origin after a 10-year stint at SpaceX, told CBS that he has around 6,500 SpaceX shares that would represent a nearly $880,000 windfall based on the IPO listing price of $135 a share. He added that giving employees stock options encourages them to "perform a lot better because, I mean… it's their company as well."
He went on to tell the outlet that he wants to maintain a strong work ethic after the IPO and plans to keep working, and expressed gratitude to Musk for "making all these lives much better and meaningful for their families as well."
SpaceX founder and CEO Elon Musk became the world's first trillionaire following the IPO. (Suzanne Cordeiro/AFP via Getty Images)
SPACEX SET A NEW RECORD FOR IPOS: THESE ARE THE WORLD'S 5 LARGEST
The Wall Street Journal reported that J. André Lavoie, a 63-year-old former SpaceX engineer who moved to Italy five years ago, has shares valued at over $28 million based on the IPO price. Lavoie plans to use the funds to renovate a hotel he purchased and is considering helping others in the community transition from heating their homes with burning wood to cleaner heating sources.
"I don't want to just die with a pile of money in the bank," Lavoie told the Journal. He added that the rise in the value of the shares has caused him to reconsider his plans. "Every year the shares have been going up so radically it keeps messing up my life plans."
The Journal also spoke with 27-year-old Maryellen Musselman, who joined SpaceX in 2022 and worked on a ship used in retrieving rocket parts from the company's launches that splashed down off the coast of Florida.
Musselman used 10% of her pay to purchase additional shares during the two years she worked at SpaceX and said that while she's unsure of how quickly she'll look to sell, saying it'll likely be "an 11th-hour decision."
SpaceX's IPO was the largest in history, with a raise of about $75 billion. (Joe Skipper/Reuters)
SPACEX'S FIRST EMPLOYEE SAYS HISTORIC $1.7T IPO WILL BE 'LIFE-CHANGING' FOR THOUSANDS OF WORKERS
She wants to use the money to help her start a ship repair business in Chesapeake, Virginia, saying that, "Mariners are not usually stock owners in their companies, they're not always under benefits."
Tom Mueller, who was hired as SpaceX's first employee in 2002 and led projects including the Merlin Engine that powers the Falcon 9 rocket, the Raptor Engine that powers Starship and other key propulsion systems, told FOX Business' "The Claman Countdown" on Thursday that the IPO would be life-changing for employees.
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"Elon always said that 'Your salary is one thing, but it's the equity that's gonna be worth something.' And we are all like, 'Yeah, okay someday,'" Mueller said. "That day is here. It's great."
There were a lot of ways that SpaceX's initial public offering could have gone wrong. Instead, the company bucked Wall Street norms, pulled off the biggest IPO ever and raised $75 billion, according to a regulatory filing, while orchestrating a successful first day as a publicly traded company.
What are investors really buying when they buy SpaceX? Julie Hyman, Brian Sozzi, and Justus Parmar discuss the future of the space economy, Mars colonization, Rocket Lab, AI, and the long-term vision behind SpaceX.
The SpaceX initial public offering was expected to deliver the kind of drama usually reserved for a summer thriller. Instead, it proved to be something far more disappointing: rather ordinary.
