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Disney (NYSE:DIS | DIS Price Prediction) has spent 2026 grinding sideways while the underlying business quietly accelerates. Shares are down 10.98% year to date, yet streaming margins just crossed double digits and FY26 EPS growth is guided at roughly 16%. That disconnect is the entire setup for our call.

Our 24/7 Wall St. price target for Disney is $110.07, implying 8.68% upside from $101.28. We rate Disney a buy with high confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $101.28 24/7 Wall St. Price Target $110.07 Upside 8.68% Recommendation BUY Confidence Level 90% A Streaming Inflection Hiding Behind a Sideways Tape Disney is down 14.3% over the past year and up 1.96% over the past week, with a 14-day RSI of 49.03 that reads as neutral. The stock sits between a 52-week low of $92.19 and a high of $123.85.

The May 6 earnings report told a much better story than the tape. Q2 FY26 adjusted EPS came in at $1.57 versus $1.4955 expected, on revenue of $25.168 billion, up 6.55% year over year. Operating income jumped 31.29%, Entertainment SVOD operating income surged 88% to $582M, and the Experiences segment posted record Q2 revenue of $9.487 billion. Management raised the buyback target to at least $8 billion.

The Case for $120+ The bull thesis hinges on streaming. Entertainment SVOD just hit a 10.6% operating margin, with 196M combined Disney+ and Hulu subscribers. Add the ESPN DTC launch, the NFL Network acquisition, and double-digit FY27 EPS growth guidance, and the operating leverage story is real.

Experiences keep printing records, helped by recreation spending of $864.2 billion in April 2026, a fresh high. The $129.67 analyst target, backed by 27 Buy ratings versus 1 Sell, is the bull scenario. Hit FY27 EPS estimates with a 19x multiple and Disney trades north of $120.

What Could Go Wrong Q1 FY26 free cash flow swung to negative $2.278 billion on California wildfire tax payments, and Q3 Sports operating income is guided down roughly 14% on higher programming costs. The NFL deal is $0.03 dilutive to FY26 EPS, and Polymarket traders give Disney+ only a 28% chance of reaching 150M users by September.

Bulls would counter that the Q1 cash flow hole reflected tax timing rather than operational weakness, and that Q2’s $4.941 billion in free cash flow shows the underlying engine is intact. A bear scenario clipping the multiple to 14x forward earnings drags the stock toward $88.

Disney Price Prediction 2026-2030 The 24/7 Wall St. price target of $110.07 is a buy with 90% confidence. The tipping factor is the SVOD margin breakout combined with a forward P/E of just 14x on a name guided to 12% to 16% EPS growth. The setup favors investors who believe streaming margins keep expanding into FY27. Investors who think Sports rights inflation eats the entire DTC win may want to wait for further evidence.

Year 24/7 Wall St. Price Target 2026 $110 2027 $122 2028 $135 2029 $148 2030 $162 These projections assume Disney executes on the double-digit EPS growth path guided for FY26 and FY27. Material upside or downside hinges on streaming margin trajectory, NFL economics, and the pace of Experiences expansion in Asia and the Middle East.

Walt Disney DIS shares are slightly down following a recent surge, despite impressive weekend box-office results for Toy Story 5, which earned $312 million globally. This debut marks the largest movie opening of 2026 and the best launch in the franchise's history, bolstering the case for DIS's intellectual property (IP) strategy. However, the absence of a new operating update has led to a period of consolidation for the stock.

Franchise Engine: Toy Story 5's success extends beyond box-office numbers. DIS can leverage its franchises across various platforms including theatrical releases, Disney+, consumer products, theme parks, and digital experiences, highlighting the unique earnings potential of its character portfolio. Muted Stock Reaction: Following DIS's recent stock performance, investors may have already factored in expectations for a stronger content lineup. They are now looking for concrete evidence that franchise momentum will enhance streaming engagement, boost consumer product sales, and accelerate overall earnings. Streaming Quality: In Q2, reported on May 6, DIS saw a 13% increase in Entertainment SVOD revenue, with operating income soaring 88% to $582 million. The SVOD margin reached 10.6%, indicating that streaming is becoming more profitable. Additionally, SVOD advertising revenue grew by 12%, providing another monetization avenue. Experiences Resilience: Disney Experiences revenue rose 7% in Q2, with segment operating income increasing by 5%, both achieving record highs for the fiscal quarter. However, domestic attendance dipped by 1%, and pre-opening costs impacted profit margins. Investors are also monitoring potential pressures from Universal’s Epic Universe in Orlando. Parks Outlook: Management indicated that international visitor challenges and Epic Universe-related issues are expected to lessen. Meanwhile, Disney World bookings remain robust, and domestic attendance is anticipated to improve in Q3 compared to Q2. Sports and Capital Return: Last quarter, DIS raised its FY26 adjusted EPS growth forecast to around 16%, including an additional week, and reaffirmed double-digit growth for FY27. However, Q3 sports operating income may decline by about 14% year-over-year due to programming costs and timing. At least $8 billion in buybacks for FY26 is also planned to support shareholder returns.The recent success of Toy Story 5 serves as a testament to DIS's franchise strategy. The company's narrative is not solely based on theatrical performance but also on its capability to transform major IP into streaming engagement, merchandise sales, and long-term consumer connections. The stock's subdued movement is understandable given its recent performance, as the box-office news alone does not alter the short-term outlook. Future indicators will focus on DIS's ability to maintain double-digit streaming revenue growth with sustainable margins, stabilize domestic park attendance amid Epic Universe competition, and keep ESPN profitable in the face of rising sports rights costs. If these elements align, DIS could see a more resilient earnings recovery beyond just hit-driven content rebounds.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Target has promised investors that it's pursuing an aggressive turnaround with a new CEO at the helm, but its longtime former top executive Brian Cornell still leads the retailer's board of directors — and some major investors are signaling they're hungry for change.

Shareholder backing for Target's former CEO and current Executive Chairman Cornell fell to its lowest level ever during the company's annual general meeting this month.

While Cornell, 67, was comfortably reelected to his position on Target's board of directors, he saw the steepest drop in support since he joined the retailer's board more than a decade ago, when he was hired as its CEO. 

In all, 87.2% of shareholders voted to reelect him to the board — a 4% decline from the year-ago period and a material drop from his historical average of 95% support. It's also well below the average level of support directors have received across the S&P 500 this year, which Harvard Law puts at 96.6%. 

"Getting over 95% is normal. Getting under 95% is poor, and getting under 90 is very poor. It means people are going out of their way to say they don't want you there anymore," said Kevin Kaiser, an adjunct full professor of finance at The Wharton School of the University of Pennsylvania who teaches a course on shareholder activism. 

Given how many investors automatically approve what major proxy firms or boards suggest they vote for, "anything below 90 is considered a very bad result" and is rare to see, Kaiser said. 

Cornell's drop in support comes after he stepped down from his CEO role and transitioned to be Target's executive chairman in February as the company contended with dwindling profits, a falling share price and three straight years of annual sales declines.

Neil Saunders, retail analyst and GlobalData managing director, said some analysts and investors viewed Cornell's appointment to executive chair as a "reward for failure" and wanted a clean break from the management team that oversaw so many of Target's issues. 

"If you don't do a good job as CEO, then arguably you should be cleared out of the boardroom and I think that's how most people view it," Saunders said. "I don't think that that is unreasonable. To get rewarded for delivering a decline in the share price and causing problems for the company, it just doesn't sit well with a lot of people." 

A Target spokesperson declined to comment and instead referred CNBC to its 2026 proxy statement and a press release it issued announcing the voting results of its annual general meeting. In its proxy statement, the company said keeping the roles of board chair and CEO separate "is appropriate given the company's immediate strategic and operational priorities" as the positions have "distinct roles and responsibilities."

"The separated structure allows [CEO Michael Fiddelke] to focus on the business, including implementation of key initiatives, during the initial phase of his CEO tenure, while Mr. Cornell's service as Executive Chair allows the Board to continue to leverage his in-depth knowledge of our business and industry during this transitional phase," the statement reads.

Critiquing CornellSince joining Target as the retailer's CEO in 2014, Cornell grew sales by more than 44% and helped transform it into a $100 billion-plus juggernaut as he oversaw the expansion of its digital presence, grew stores and steered the company through the Covid-19 pandemic.

But over the past few years, he's faced rising criticism as the company has underperformed expectations and lost share to competitors like Costco, Walmart and Amazon. Target has been criticized for mismanaging inventory, under-investing in stores and falling behind on the trendy, eye-catching merchandise the retailer built its name on. 

Target has also been the subject of backlash over its actions on a number of social justice issues, and the brunt of that has fallen on Cornell. The retailer reduced certain LGBTQ-themed pride merchandise in stores several summers ago and rolled back diversity, equity and inclusion programs, which led to nationwide boycotts and preceded weeks of foot traffic declines. 

Combined, these issues have contributed to a precipitous drop in Target's share price, which is up about 33% year to date but still down by roughly 50% since its all-time high in 2021.

When the company announced that Cornell would be stepping down as CEO in February, Wall Street had favored an outside candidate to succeed him, according to a June 2025 survey of 51 investors by Mizuho Securities, an equity research firm.

When it said two insiders would continue to lead the company — Cornell as executive chair and company veteran Fiddelke as CEO— the same day that it forecast another annual sales decline, investors were disappointed, leading shares to fall. However, since then, it appears as if analysts and investors are warming up to Fiddelke, who received 99% of the vote during the company's meeting.

"It feels like they're doing a lot of things better in terms of merchandising," Michael Baker, a senior research analyst at investment bank D.A. Davidson, said in an interview. "To me that would be a sign of continued progress under Michael Fiddelke." 

During the company's fiscal first quarter, which ended May 2, Target saw comparable sales grow 5.6% — its first positive same-store sales number in five quarters, with strength across all six of its core merchandising categories. While Target said its turnaround efforts are showing signs of early progress, finance chief James Lee acknowledged higher tax refunds helped to fuel spending, a benefit he expects to fade over the rest of the year.

Losing shareholder supportThe exact investors who voted against Cornell, and their reasons, aren't clear since complete voting records haven't been released yet, but two of the nation's largest public pension fund managers turned against him. 

The Florida State Board of Administration, which manages the Florida Retirement System Pension Plan, the sixth-largest pension plan in the nation with about $277 billion in assets under management, voted against Cornell after supporting him for the past nine years, proxy records show. 

The fund manager didn't return CNBC's request for comment, but proxy records show it voted against Cornell because of "poor long-term company performance." 

New York's comptroller, which manages the $295 billion New York State Common Retirement Fund, supported Cornell from 2017 through 2024 but voted against him at the last two meetings, state records show. 

In a statement to CNBC, State Comptroller Thomas DiNapoli said "Cornell and others should not be rewarded for poor performance."

"Investors are not supporting Target's leadership because it mismanaged the company's workforce, hurt the brand, and damaged shareholder value," DiNapoli said. "It's why New York state's pension fund and other shareholders voted against board directors and Target's executive pay plan." 

While influential, the pension funds are not among Target's top 50 shareholders. It's not clear how Target's largest investors voted at the meeting.

A number of left-leaning activists — including SOC Investment Group, Trillium Asset Management and Mercy Investment Services — called on investors to vote against Cornell. The activists have also urged investors to vote against Lead Independent Director Christine Leahy, who received 88.5% of the vote during the most recent meeting, an 8% decline in support from last year. 

"Let's suppose somebody is being criticized and it's damaging our reputation with our customers and our employees, and as a solution to that, we promote this person to the executive chair role at the board level," said Wharton's Kaiser. "It just doesn't smell right, and the person who would have had the primary role in stopping that from happening would have been the lead independent board member." 

In its proxy statement, Target called Leahy a strong director "supported by a governance structure designed to further promote independence" as it recommended shareholders vote in her favor.

It's unclear whether or not the investor pressure will have an impact on Target's board, but Kaiser said change at that level typically happens when directors see such dramatic drops in support during annual meetings. 

"It means there's a lot of pressure now on the board and on the individuals on the board and they clearly are losing the support of the shareholders," Kaiser said. "If they don't do something, the next [annual general meeting] won't go well for them." 

  Vancouver, BC – June 23, 2026 – TheNewswire - Stellar AfricaGold Inc. (“Stellar” or the “Company”) (TSXV: SPX, TGAT: 6YP and FSX: 6YP) is pleased to announce a 10,000 meter auger drill program at the Stellar-MetalsGrove Joint Venture Zuénoula Gold Project, Cote d’Ivoire.

Highlights

•        Joint venture operator MetalsGrove Mining Ltd. (“MetalsGrove”) has consolidated the exploration targets at the Zuénoula Permit into four principal prospects - Fifty-Five, Central, South East and South West Prospects following ongoing technical review and field verification of multiple gold anomalies.

A two-rig, two-stage 10,000-meter auger drilling program is planned to test gold anomalous clusters at the Fifty-Five, Central and South East Prospects, with mobilisation and commencement targeted for end June.  

Recent soil geochemistry interpretation has defined a total of 7 Potential Drill Targets within the consolidated4 prospects on the permit. These targets will be progressively refined through ongoing infill soil sampling and auger drilling before drilled by Aircore/Reverse Circulation (AC/RC) or diamond drilling (DD) from late 2026.  

Infill soil sampling programs continue across all four prospects at varying grid spacings,with results continuing to enhance target definition and prioritisation for drill testing.  

About the Stellar-MetalsGrove Joint Venture Zuénoula Gold Project, Cote d’Ivoire.

The Stellar-MetalsGrove Zuénoula Gold Project is a joint venture exploration project between Stellar’s Ivorian subsidiary Aucrest SARL (“Aucrest”) and MetalsGrove Mining Ltd.’s Ivorian subsidiary MetalsGrove CDI Pty Ltd (MetalsGrove) to advance Stellar’s 395.78 square kilometer early-stage exploration permit called Zuénoula in Côte d’Ivoire (see Figure 2 below). Pursuant to the joint venture agreement MetalsGrove, the project operator, may earn up to a 50% interest in the Zuénoula Gold Project by incurring US$3,000,000 in exploration expenditures and up to an 80% interest in the Zuénoula Gold Project by incurring a total of US$6,000,000 in exploration expenditures. (For further details of the Stellar-MetalsGrove Joint Venture Agreement see Stellar news release December 9, 2025.)

Stellar Management Commentary

Stellar President and CEO J. François Lalonde commented:

"Following extensive soil sampling and target refinement, the joint venture exploration team has consolidated the Zuénoula Permit into four principal prospect areas and are preparing to commence a 10,000-meter auger drilling program across the 7 defined potential drill targets. The program is designed to test the bedrock potential beneath surface gold anomalies and represents a critical step towards AC, RC and diamond drilling later this year.

  The definition of seven potential drill targets marks an important milestone in the systematic exploration approach and highlights the growing scale and prospectivity of the Zuénoula Gold Project. Several targets exhibit kilometre-scale strike lengths and remain open to further refinement through ongoing infill soil sampling. With more than 1,700 soil samples currently awaiting assay results, there is significant potential to further expand these targets and discover more targets across the permit.

  We look forward to updating shareholders as auger drilling commences and additional soil sampling assay results continue to strengthen the discovery potential at Zuénoula."

  MULTIPLE NORTHEAST-TRENDING GOLD ANOMALOUS TRENDS IDENTIFIED

Stellar is pleased to announce the planned commencement of a two-rig, two-stage, 10,000 meter auger drilling program at its Zuénoula Permit in Côte d’Ivoire to test the area’s seven potential drill targets defined from multiple gold anomalies identified through the Company’s systematic soil geochemistry programs.

  The joint venture operator has consolidated the exploration targets at the Zuénoula Permit into four principal prospects following ongoing technical review and field verification of multiple gold anomalies identified from completed various surface soil sampling programs to date (Figure 1). The Fifty-Five Prospect now incorporates the original Fifty-Five Prospect and its northeastern extension, while the South East Prospect combines the former Konezra Prospect with the South East Prospect. The Central Prospect and South West Prospect remain unchanged from previous reporting. This refinement provides a clearer framework for exploration targeting and reflects the Company's growing understanding of the distribution and continuity of gold anomalism across the project area.

 
Click Image To View Full Size

Figure 1. Zuénoula Soil Sampling Progress Across the Four Consolidated Exploration Prospects

  A two-rig, two-stage, 10,000 m auger drilling program within the Fifty-Five, Central and South East Prospects has been designed (Figure 2) to test the most significant gold anomalous clusters identified. Stage 1 will comprise approximately 5,000m of drilling on a nominal 400m × 50m drill pattern, followed by Stage 2 infill drilling on a 250m × 25m spacing, subject to the results obtained from the initial phase. Auger drilling is planned to an average depth of approximately five metres to test the mineralisation potential from the upper saprolite horizon. Results from ongoing soil infill programs across all three auger target areas will be incorporated into final drill planning to further refine and optimise drill line locations prior to commencement. The two-rig mobilisation and commencement date is scheduled for end June 2026.

  Interpretation of the current soil geochemistry dataset (Figure 1 & Table 1) has increased the definition of potential drill targets to 7 (Figure 2), each exhibiting kilometre-scale prospective strike length (Figure 3 and 4). These targets will continue to be refined through ongoing infill soil sampling and auger drilling programs, with the objective of defining coherent bedrock-related mineralisation suitable for follow-up AC/RC or DD from late 2026.

  Infill soil sampling continues at varying grid spacings across all four prospects at the Zuénoula Permit. To date, assay results have been received for 1,617 soil samples, while a further 1,755 samples are awaiting laboratory analysis. An additional 306 samples are scheduled for collection.

 
Click Image To View Full Size

Figure 2. Planned Auger Drilling Areas and 7 Potential Drill Targets Defined at Zuénoula Permit

  
Click Image To View Full Size

Figure 3. Planned Auger Drilling Areas and Potential Drill Targets Defined  

at Fifty-five and Central Prospects

  
Click Image To View Full Size

Figure 4. Planned Auger Drilling Area and Potential Drill Targets at South East Prospect

  Next Phases of Work

The Company has planned the following next phases of exploration programs to advance the identification of new potential drill targets and refine existing potential drill targets for drill testing:

Auger drilling: 

Auger drilling across 3 Prospects: 10,000 meters in 2 stages. 

Soil Sampling: 

Fifty-Five Prospect NE: 200m*200m (pending sampling) 

South East Prospect: 200m*200m (pending assay results) 

Fifty-Five Prospect: 2000*50m (pending assay results) 

Central Prospect: 2000*50m (pending assay results) 

Five-Five Prospect East: 200*200m (pending assay results) 

South West Prospect: 400m*400m (pending assay results) 

  Qualified Person

The technical information contained in this release has been reviewed and approved by Mr. Robert Perring, a current member of the Australian Institute of Geoscientists (MAIG) and Exploration Manager of MetalsGrove Mining Limited. Mr. Perring is a Qualified Person under National Instrument 43-101.

About Stellar Africagold Inc.

  Stellar AfricaGold Inc. is a Canadian precious metal exploration company focused on precious metals

in North and West Africa, with active programs in Morocco and Côte d’Ivoire. Stellar’s principal exploration projects are its advancing gold discovery at the Tichka Est Gold Project in Morocco, and its

early-stage exploration Zuénoula Gold Project in Côte d’Ivoire which is operated in Joint Venture with MetalsGrove Mining Ltd subsidiary, MetalsGrove CDI Pty Ltd.

  The Company is listed on the TSX Venture Exchange symbol TSX.V: SPX, the Tradegate Exchange TGAT: 6YP and the Frankfurt Stock Exchange FSX: 6YP.

  The Company maintains its head office in Vancouver, BC and has a country office in Marrakech, Morocco.

          QA/QC

  JORC Code, 2012 Edition – Table 1

Section 1- Sampling Techniques and Data

  Criteria

JORC Code Explanation

Commentary

Sampling Techniques

Nature and quality of sampling (e.g. cut channels, random chips, or specific specialied industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc.) These examples should not be taken as limiting the broad meaning of sampling. 

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. 

Aspects of the determination ofmineralisation that are Material to the Public Report. 

  In cases where ‘industry standard’ work has been done, this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

  No drilling has been undertaken on Zuénoula PR-750

  All soil samples collected on Zuénoula PR-750 have been analysed for gold by fire assay at Bureau Veritas laboratory in Abidjan, Côte d’Ivoire.

  SOIL SAMPLING STAGES

Stage 1: Initial, permit-wide, broad-spaced soil sampling on 1000m x 1000m grid 

Stage 2: Gold anomalous clusters and trends defined by multiple anomalous soil samples (+20ppb Au) are then infilled with soil samples collected on 400m x 400m grid  

Stage 3: Coherent gold soil anomalies are then infilled with soil samples collected on 200m x 200m grid 

Stage 4: Higher density 200m x 50m soil sampling to sharpen definition of gold soil anomalies 

Stage 5: Augering and trenching of coherent gold soil anomalies 

Stage 6: Drill testing of gold soil and auger anomalies.  

  SOIL SAMPLING PROCEDURES

MGA has contracted the experienced consulting group SEMS Exploration Services (SEMS) to conduct all soil sampling 

Up to four sampling crews may be active at any one time 

The MGA Exploration Manager was onsite at the start of the field program to instruct the sampling crew on the Standard Sampling Procedure required by MGA  

MGA provided SEMS Exploration Services with an Excel table listing the designated sample point locations using WGS-84 UTM zone 29N coordinates 

Each soil sample is collected from within 20 metres of the designated sample point, with the actual sample point then recorded 

At each sample point: 1) the organic rich soil is brushed away, 2) a 40cm deep hole dug and the sample collected by taking a channel-cut along the bottom 20cm of the hole, 3) 1000g of the minus 2mm sieved fraction of each sample is collected from the sample point, 4) gold is determined by fire assay (LDL 2ppb) 

Duplicate samples are collected every 20th sample, certified reference material (CRM) inserted every 20th sample, and blanks inserted every 20th sample. 

Samples are stored at the secure SEMS field compound in Zuénoula prior to transport to Bureau Veritas in Abidjan of gold analysis. 

Drilling Techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. corediameter,tripleorstandard tube,depthofdiamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).  

  No drilling has been undertaken. 

Drill Sample Recovery

Method of recording and assessing core and chip sample recoveries and results assessed. 

Measures taken to maximise sample recovery and ensure representative nature of the samples. 

Whether a relationship exists between sample recovery and grade,andwhether samplebias may have occurred due to preferential loss/gain of fine/coarsematerial. 

No drilling has been undertaken. 

Logging

Whether core and chip samples have been geologically and geotechnicallyloggedtolevel of detail to support appropriate Mineral Resource estimation, miningstudiesandmetallurgical studies. 

Whether loggingisqualitativeor quantitative in nature. Core (or costean, channel, etc.) photography. 

Thetotallengthandpercentage oftherelevantintersections logged. 

No drilling has been undertaken 

Soil samples are comprehensively logged for a range of parameters including colour, soil horizon, sample weight, slope, dominant grain size (clay, silt, sand), general topography, residual or transported, proximity to artisanal workings, other ground disturbances such as field plowing, and general land use (grassland, plantation, crop, etc.). 

Sub-sampling Techniques and Sample Preparation

Ifcore,whethercutorsawnand whether quarter, half or all core taken. 

Ifnon-core,whetherriffled,tube sampled, rotary split, etc. and whether sampled wet or dry. 

For all sample types, the nature, quality and appropriateness of the sample preparation technique. 

Quality control procedures adopted for all sub-sampling stagestomaximise representivity of samples. 

Measures taken to ensure that thesamplingisrepresentativeof the in-situ material collected, including, for instance, results for field duplicate/second-half sampling. 

Whethersample sizes are appropriate to the grain size of the material being sampled. 

No drilling has been undertaken  

No sub-sampling of the 1000g soil samples is undertaken prior to the sample arriving at Bureau Veritas laboratory 

At Bureau Veritas, the entire 1000g sample is pulped prior to the laboratory taking a 50g split for lead collection fire assay determination of gold concentration.  

    Quality of Assay Data and Laboratory Tests

The nature, quality and appropriateness of the assaying andlaboratoryproceduresused and whether the technique is considered partial or total. 

Forgeophysical tools, spectrometers, handheld XRF instruments,etc.,theparameters used in determining the analysis, including instrument make and model, reading times, calibrationfactorsapplied,and 

their derivation, etc.

Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, externallaboratorychecks)and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. 

Bureau Veritas is an internationally accredited assay laboratory located in Abidjan, Cote d’Ivoire. 

Assay results for all samples presented in the announcement were determined by fire assay (Lab Code: FE450, LDL 2ppb), which is a total gold extraction method for analysis. 

The lower detection limit (LDL) of 2ppb is considered appropriate for greenfields, early stage, exploration soil sampling 

Fire assay gold is considered one of the most reliable assay techniques for gold analyses.    

Verification of Sampling and Assaying

The verification of significant intersections by either independent or alternative company personnel. 

Theuseoftwinnedholes. 

Documentationofprimarydata, data entry procedures, data verification, data storage (physical and electronic) protocols. 

Discussanyadjustmentstoassay data. 

FIRE ASSAY ANALYSIS

All samples have been analysed for gold by fire assay at Bureau Veritas laboratory in Abidjan, Cote d’Ivoire 

The 1000g -2mm sample collected in the field is analysed for gold by fire assay (Lab Code: FE450, LDL 2ppb) 

At the laboratory, the 1000g -2mm sample is dried and pulverised to 85% passing 75 microns. 

This sample pulp is then mixed with a combination of chemical reagents, which when heated to high temperatures results in the formation of a lead button and slag. The lead button that contains the precious metals (including gold) is cupelled at high temperature. The lead is adsorbed by the cupel leaving behind a bead that contains the precious metals. 

The bead is acid digested and analysed by AAS, with a lower detection limit of 2ppb Au 

  Location of Data Points

Accuracy and qualityof surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. 

Specification of the grid system used. 

Quality and adequacy of topographic control. 

A handheld GPS is used to locate the soil data positions, with a +/-5m vertical and horizontal accuracy 

Sample locations (UTM WGS-84 zone 29N) and sample descriptions are noted on a standard form in the field and entered on a computer. 

GPS measurements of sample positions are sufficiently accurate for exploration targeting gold systems. 

Data Spacing and Distribution

Data spacing for reporting Exploration Results. 

Whether the data spacing and distribution is sufficient to establish the degree of geologicalandgradecontinuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. 

Whethersamplecompositing hasbeenapplied. 

An 1,000m x 1,000m offset grid pattern has been adopted for the entire permit area, excluding areas of irrigated sugar cane and villages.  

Broad-spaced soil sampling (1000m by 1000m) and low level gold fire assay analysis (LDL 2ppb) is considered an effective technique for identifying and delimiting gold anomalous clusters and trends, which are then followed up with higher density sampling at 400m 400m, 200m x 200m, and in some areas 200m x 50m, as the next phases of sampling ahead of trenching, augering, and drill testing of coherent gold soil anomalies. 

  Orientation of data in relation to geological al structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. 

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. 

The sample location configuration has been deliberately planned to avoid directional bias. 

Sample security

The measures taken to ensure sample security. 

1000g of -2mm sieved fraction of soil samples are collected in plastic bags, assigned individual sample numbers and transported to the secure SEMS compound in Zuénoula 

Samples have been analysed by fire assay at Bureau Veritas in Côte d’Ivoire and were personally transported to the laboratory by a senior member of the MetalsGrove Abidjan-based exploration team.  

Audits or Reviews

The results of any audits or reviews of sampling techniques and data. 

The sampling and assay techniques adopted by MetalsGrove has been effectively used in the Vavoua-Kounahiri district, and more widely in Cte d’Ivoire, to define drill targets and it is considered an effective initial approach for defining gold anomalous lithogeochemical trends. 

  Section 2 - Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria

JORC Code Explanation

Commentary

Mineral Tenement and Land Tenure Status

Type, reference name/number, location and ownership, including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. 

The security of the tenure held at the time of reporting, along with any known impediments to obtaining a licence to operate in the area. 

Following the acquisition of the three Gemica joint venture (JV) permits PR-454 (granted), PR-1063 (application) and PR-1102 (application) in Côte d’Ivoire, MetalsGrove entered another JV with TSX-V listing company Stellar AfricaGold Inc. (Stellar) on PR-750 Zuénoula.   

Zuénoula PR-750 was granted on 17 April 2024 for an initial four-year period, renewable for two additional three-year periods.  

The Zuénoula permit is located with Kounahiri West, Vavoua and Vavoua West permits occupy a combined area of 1,315 km², strategically situated along the Abujar–Napie gold trend within the Oumé–Fetekro Birimian greenstone belt in central west of Côte d’Ivoire, approximately 100 km north of the Abujar gold mine and 160 km south of the Napié gold project. 

Exploration Done by Other Parties.

Acknowledgement and appraisal of exploration by other parties. 

MetalsGrove is not aware of any previous systematic exploration for gold having been conducted within either Zuénoula PR-750, Vavoua PR-454, Vavoua West PR-1102, or Kounahiri West PR-1063 

Geology

Deposit type, geological setting, and style of mineralisation. 

The Vavoua, Vavoua West, Kounahiri West and Zuénoula permitsare located in the central west of Côte d'Ivoire at the south edge of the West Africa craton. This region is the world’s largest Proterozoic gold-producing region, and Cte d’Ivoire contains 35% of the region’s Birimian Group rocks, which host multiple multi-million-ounce gold ore systems. 

The GEMICA JV permits and Stellar JV permit, together cover a combined area of 1,315 km², and are strategically situated along the Abujar–Napié gold trend within the Oumé–Fetekro Birimian greenstone belt, and are located approximately 100 km north of the Abujar gold mine and 160 km south of the Napié gold project. 

Drillhole Information

A summary of all information material to the understanding of the exploration results, including a tabulation of the following information for all Material drill holes: 

easting and northing of the drillhole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collar dip and azimuth of the hole  

down hole length and interception depth hole length. 

No drilling results are included in this release. 

Data Aggregation Methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. 

Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated, and some typical examples of such aggregations should be shown in detail. 

The assumption used for any reporting of metal equivalent values should be clearly stated. 

No data aggregation methods were applied to the soil sampling data. 

Relationship Between

Mineralisation Widths and

Intercept Lengths

If the geometry of mineralisation with respect to the drillhole angle is known, its nature should be reported. 

Not applicable. 

Diagrams

Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to, a plan view of drillhole collar locations and appropriate sectional views. 

See maps in the body of the report. 

Balanced Reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practied, avoiding misleading reporting of Exploration Results. 

The soil assay data was interpreted by the MGA Exploration Manager who has more than 40 years of gold exploration experience. MGA assay results are also interpreted with reference to the surface geochemical expressions of more than 15 of the major gold discoveries in Cote d’Ivoire.  

Other Substantive Exploration Data

Other exploration data, if meaningful and material, should be reported, including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. 

Not applicable. 

Further Work

The nature and scale of planned further work (e.g. tests for lateral extensions, or depth extensions, or large-scale step-out drilling). 

Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. 

Completion of 200m x 200m sampling at Fifty-Five Prospect NE area. 

Plotting and interpreting the assay results for the 1755 soil samples currently being assayed at Bureau Veritas. 

Start stage 1- 5,000 metres auger drilling at 400m x 50m spacing at refined 7 Potential Drill Targets area across Fifty-Five, Central and South East Prospects.  

   Stellar’s President and CEO J. François Lalonde can be contacted at +1 514-9940654 or by email at [email protected]. Additional information is available on the Company’s website at www.stellarafricagold.com.

  On Behalf of the Board

J. François Lalonde

President & CEO

  This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws, including statements which may not have been based solely on historical facts but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

Forward-looking statements are based on expectations, estimates and projections as at the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, exploration risk, mineral resource risk, the Company not achieving the production milestones described herein, changes in business plans or commodity prices, failure to obtain regulatory approvals, geopolitical country risk, and the risk factors described in the Company’s most recent Management’s Discussion and Analysis and Annual Information Form, which are available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements are not guarantees of future performance and should not be unduly relied upon. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements contained herein.

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

Ford (F 0.36%) made a big move in May when it announced plans to launch an energy storage business called Ford Energy.

Ford stock soared 47% last month mostly on the news of the company's new endeavor, and investors are likely excited by analysts' predictions that the new business could generate $500 million in operating profit for Ford by 2030.

With this new entry storage business about to launch, is now the time to buy Ford stock? Here's why investors may want to hold off on making that move.

Image source: Getty Images.

Ford is tapping into increasing energy usage from AI Artificial intelligence (AI) is fueling rising demand for energy storage, and Barclays analyst Dan Levy recently said that Ford is a "hidden data center beneficiary."

Automakers invested tens of billions of dollars over the past several years to convert factories for electric vehicle (EV) production. The problem, as it turned out, is that rising EV material costs, lower-than-expected demand, and tariffs have caused many companies to abandon their most ambitious EV goals. The federal government eliminating EV tax credits didn't help either.

The result is that Ford's losses from its EV division add up to $16 billion over the past few years -- and management says it will continue losing money on EVs for the next three years.

Which is why Ford is trying to recoup some of its battery and EV tech investments.

Its announcement last month that it would shift some of its EV battery factories to make battery storage excited investors. The goal is for Ford to produce up to 20 gigawatts of capacity over the next five years, with battery deliveries starting in 2028.

Ford CEO Jim Farley told the Detroit Free Press last month that the company is already seeing "tremendous interest from customers," adding, "[W]e're off to a good start both on the supply side, building the plants, building the cells, getting the machines up and running, as well as the demand creation side."

Ford will invest $2 billion in the business to get things up and running.

Analysts at Morgan Stanley said Ford Energy could generate $500 million in operating profit by 2030. The analysts also believe Ford could sign supply agreements with commercial customers in the coming months.

That may be a drop in the bucket compared to Ford's earnings before interest and taxes (EBIT) of nearly $6.8 billion last year. Still, investors are excited to see the company thinking outside of the traditional automotive box and embracing new revenue opportunities.

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It could be a smart move, but it's too early to bet on Ford Energy It's a bit surprising and a little concerning that Ford stock rose so high last month simply on the news of Ford Energy.

The automaker's energy business has no profit and no revenue to date. Instead, investors were excited that Ford is doing something AI-adjacent.

There needs to be higher standards than that for buying a stock, though. It's noteworthy that Ford is moving into the energy storage business, and it's commendable that the automaker is thinking of new ways to repurpose some of the battery investments it made for its EVs.

But it will be a couple of years before deliveries begin, which means it'll be that long (or even longer) before investors see any potential profits from Ford Energy.

So, no, Ford stock is not a buy just because it's investing in energy storage for data centers. The share price surge is more of a symptom of investors believing that anything AI-related is an automatic success.

Instead, Ford shareholders should be more concerned with how the company manages costs and improves vehicle sales. The company experienced a tough year in 2025, with a net loss of $8.2 billion due to a $19.5 billion write-down related to its EV restructuring.

Selling some batteries that bring in $500 million in operating profit four or so years from now certainly is not the fix some investors think it is.

A Ford logo on a Ford F-150 pickup truck for sale in Encinitas, California, U.S. October 20, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab

CompaniesDETROIT, June 22 (Reuters) - Canadian auto union Unifor began negotiations with Ford Motor (F.N), opens new tab on ​Monday, commencing talks on new contracts ‌with the so-called Detroit Three of Ford, General Motors (GM.N), opens new tab and Stellantis (STLAM.MI), opens new tab to try to improve pay, ​job security and benefits for its ​nearly 19,000 members at those companies.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

Existing ⁠collective agreements between Unifor and the Detroit ​Three automakers expire on September 20.

The union ​began the negotiations with Ford because the automaker has been most committed to continuing its operations in ​Canada, the union said.

Unifor set a ​deadline of July 10 to reach a deal with ‌Ford, ⁠which it will then take to the other two automakers.

The union said it has begun talks earlier than usual because economic ​conditions are ​unlikely to ⁠improve in the coming months and could worsen.

Canada faces significant U.S. ​tariffs pending negotiations around the ​future ⁠of the U.S.-Canada-Mexico trade agreement.

Nearly 6,000 workers have been laid off across plants owned by ⁠the ​three automakers as the ​companies have shifted or paused production at several facilities.

Reporting ​by Nora Eckert in Detroit Editing by David Goodman

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

Nora Eckert reports on the automotive industry from Detroit. She covers Ford, GM, Stellantis and the United Auto Workers, with a focus on the industry's transition to EVs. She was previously a reporter for The Wall Street Journal in Detroit, where she broke news on major automakers and the UAW. She was earlier part of a WSJ investigations team that was recognized as a finalist for the 2021 Pulitzer Prize. Nora began her career as an investigative reporter with the Rochester Post Bulletin in Minnesota, where she focused on the state's organ transplant system and prisons.

Ford Motor Company (F 0.36%) stock took off like a rocket last month, climbing 45% in the last two weeks of May. Ford's given back about half those gains in the June stock sell-off, but why did Ford stock put pedal to metal in the first place?

Because all of a sudden, Ford has decided it's an energy stock.

Image source: Getty Images.

Ford Motor is electric A little over three years ago, Ford secured a license from China's Contemporary Amperex Technology Co., or CATL, which permits Ford to manufacture batteries using CATL technology. The original plan, of course, was to make these batteries for Ford electric vehicles (EVs). But now that EV demand in the U.S. has collapsed, and demand for electrical power to run artificial intelligence (AI) data centers has exploded, Ford has struck upon a new idea for how to use its technology license:

Ford will manufacture batteries to store electricity for use by data centers and AI semiconductor factories.

Ford announced the plan in January 2026, promising to build batteries at factories in Kentucky and Michigan, and use them to create a "battery energy storage business." Production would begin in mid-2027, rapidly ramping to produce 20 gigawatt-hours of batteries annually and generating as much as $5 billion in new energy storage revenue by 2030.

Wall Street already loves the idea. In mid-May, Morgan Stanley predicted energy could generate between $500 million and $600 million in annual operating profit for Ford.

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General Motors charges in It was this prediction, by the way, that sparked Ford stock's amazing run last month -- and it seems the lesson wasn't lost on Ford archrival General Motors (GM +1.11%). Last week, GM announced it has a few energy ideas of its own.

GM's first idea isn't exactly original: "vehicle-to-grid" electricity in which owners of GM EVs can plug them into the grid to support the grid during peak demand -- essentially a system of distributed energy storage. GM said last week it is seeking to partner with utility companies on such a project and is already in talks with utility companies in California and Michigan.

Separately, GM is partnering with privately held Redwood Materials to reuse or recycle old EV batteries for utility-scale energy storage.

Finally, GM said it's working on a new battery chemistry that centers on more common (and cheaper) sodium rather than lithium. The new sodium-ion technology has other advantages over lithium-ion batteries -- not requiring cooling to operate at full efficiency, for example -- and may also be simpler and more reliable. GM says it's partnering with Denver-based energy storage start-up Peak Energy to produce sodium-ion batteries beginning sometime after 2028.

This all sounds a bit more scattershot than Ford's simple approach: Build a factory to manufacture batteries, then assemble those batteries into energy storage systems. Then again, the more bets GM makes, the more chances that one of them may strike it rich!

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How rich, exactly? Wall Street's optimism aside, though, how does the math on all this work?

Let's take Ford's estimated "$5 billion" in 2030 battery energy storage revenue, for example. According to data from S&P Global Market Intelligence, Ford currently earns about a 0.8% operating profit margin on its revenues, implying $5 billion in extra revenue might earn Ford an extra $40 million.

That's hardly a large payoff for a new business that will take five years to build!

GM's 6.6% operating profit margin, in contrast, seems to offer more potential for profit should any of the company's several energy bets pay off. Still, there's the question of whether GM is better advised to keep earning 6.6% margins by selling trucks or try to earn even more by selling energy storage? How good a bet is that?

For context, consider the bet Tesla (TSLA 0.04%) made back when it began its own "energy generation and storage" business by buying SolarCity back in 2016. Over the past decade, this business has grown from $1.1 billion in annual revenue to $12.8 billion while also generating very respectable profit margins. In 2017, Tesla EGS earned a 21.7% gross profit margin that has since grown to nearly 30% in 2025.

Long story short, Tesla's energy business today generates nearly twice the gross margin of its EV business. If Ford and GM can accomplish anything similar, it should be well worth the effort.

General Motors has gutted its electric-vehicle ambitions and sidelined more than 1,000 jobs at its flagship Detroit assembly plant — while adding 50 robots, sparking outrage from labor unions.

The “collaborative robots,” or “cobots,” have been installed on the assembly line at GM’s Factory Zero plant in Michigan amid a sharply reduced demand for its EV models and the ensuing push to cut costs, reports said.

The machines are now working alongside the remaining humans there who attach the body panels to vehicles as they move down the track, according to AutoBlog.

“Cobots,” or “collaborative robots,” are now working alongside employees on the assembly line at GM’s flagship Detroit plant. AP The automaker insists the cobots are not replacements to human workers and are actually necessary at the Detroit-Hamtramck electric-truck plant to stay competitive while improving “safety and ergonomics” for the workers, according to Crain’s Detroit Business and a company spokesman.

“We’ve been installing cobots across our manufacturing footprint as part of a broader push to bring more advanced technology into our operations,” spokesman Kevin Kelly said.

“At Factory ZERO, we are implementing them alongside our team — helping improve safety and ergonomics, while keeping our operations flexible and competitive,” he said, adding that the workers let go are only temporarily laid off.

Kelly did not specify when those workers might eventually return to work.

But United Auto Workers Local 22 president James Cotton isn’t buying it, saying the machines are simply a cost-cutting measure that is taking jobs from his union members.

“Our manpower is being taken away from us,” Cotton said, according to Crains.

“From top to bottom, we’re disgusted that they have cobots in our plants,” he said.

Union workers protest being sidelined for machines. AP

More than 1,000 workers were let go while the company installed 50 robots shortly after. Reuters The number of labor hours required to produce a car has declined 50% to 70% since the 1980s, Crains reported.

But that hasn’t stopped UAW wages from going up. The union was able to make historic wage gains in 2023, and the union will likely seek stronger protections in its upcoming 2028 contract negotiations, the outlet said.

Cotton said that despite the company’s claim of the technology making conditions safer, he has safety concerns with robots working next to humans and noted the union has since filed grievances against GM over the cobots.

The automaker claims the cobots are necessary to stay competitive while improving “safety and ergonomics.” AP The cobots arrived as GM is getting hammered by slowing EV demand — largely because of the costs, according to AAA — with the automaker pausing production at Factory Zero multiple times over the past year.

In response to GM’s heavy automation push and cobot installation, UAW president Shawn Fain said workers are “in a fight for humanity,” reported the News Tribune.

“The fruits of our labor have multiplied like never before, but workers aren’t reaping the harvest,” he said, according to the outlet.

“And if AI continues to be used as an accessory to that crime, it has to be stopped — it doesn’t have to be this way — in a just society, when workers create more value, they see more of the benefit.”

In the first quarter of 2026, GM reported $4.25 billion in profits, up 22% from the same period the previous year, according to Yahoo! Finance.

Key Takeaways Goldman has advised on a record more than $1 trillion worth of M&A deals so far in 2026.Many announced deals are likely to close in 2H 2026, supporting Goldman's advisory fee growth.Goldman's IB fees rose 48% year over year in Q1'26, driven by stronger advisory activity. The Goldman Sachs Group Inc.’s (GS - Free Report) investment banking (IB) business is regaining momentum as global dealmaking activity continues to recover.

According to Dealogic data, Goldman has advised more than $1-trillion worth of announced mergers and acquisitions (M&A) so far in 2026, marking a record pace for any investment bank within a half-year period. This represents a 71% increase from the comparable period in 2025, underscoring the sharp rebound in corporate transaction activity after several years of subdued dealmaking.

Global M&A activity reached $2.73 trillion so far this year, up 38% year over year, with Goldman advising on deals representing more than 40% of the total announced transaction value. JPMorgan (JPM - Free Report) and Morgan Stanley (MS - Free Report) ranked second and third, respectively JPMorgan advised on $687.5 billion of transactions, whereas Morgan Stanley followed with $575.9 billion of deals.

Global M&A Advisor Ranking

Image Source: Dealogic

Last month, at the Bernstein Strategic Decisions Conference, Goldman indicated that it expects global M&A volume in 2026 to exceed the 2021 record and reach $3.8 trillion. The optimistic outlook reflects improving corporate confidence, easing financing conditions and renewed boardroom appetite for strategic growth. A broader return of private equity activity could provide an additional boost, as sponsors look to deploy capital, pursue portfolio exits and monetize assets after a slower transaction environment.

Stronger Fee Pipeline for GoldmanGS’s large M&A advisory pipeline is particularly important because investment banks typically earn advisory fees when transactions close. While fee rates vary based on deal size, complexity and client relationships, large-scale transactions can generate significant advisory revenues. Therefore, the firm’s more than $1 trillion in announced advised M&A volume provides a visible pipeline of potential fee income over the coming quarters. This commanding lead is translating directly into higher advisory revenues.

The timing of fee realization is important. Announced deal volume does not translate immediately to revenues, as advisory fees are generally recognized upon deal completion. However, with many of Goldman’s advised transactions expected to close during the second half of 2026, the current pipeline offers meaningful visibility into future investment banking revenues. This could help sustain advisory fee growth even if the pace of new deal announcements moderates later in the year.

The recovery is already visible in Goldman’s recent results. In the first quarter of 2026, advisory revenues rose 89% year over year on higher completed M&A volumes, supporting investment banking fee growth of 48%. If the current announced-deal pipeline converts into completed transactions, advisory revenues could remain a meaningful growth driver through the remainder of 2026, supporting profitability and top-line growth.

Goldman’s Price Performance & Zacks RankGS shares have gained 71.7% in a year compared with the industry growth of 32.7%. 

Price Performance

Image Source: Zacks Investment Research

Goldman currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Starbucks (SBUX +1.80%) may be on the verge of a major expansion, one that investors should note.

The global coffee giant currently operates more than 40,000 stores in 88 markets on six different continents (it has yet to establish an outpost in Antarctica).

More than 22,000 of those stores are outside the U.S. and Canada, a number that could increase substantially in the coming years, according to the company's CEO.

At the Evercore Consumer and Retail Conference in New York this week, Starbucks CEO Brian Niccol said the company can grow aggressively outside the U.S., claiming it could double its store count in other countries. He said that in China alone, the company will go from 8,000 stores today to 20,000 stores "in short order."

Niccol also said Starbucks is looking to open an additional 10,000 stores in the U.S., particularly in underpenetrated areas in the middle of the country, as today the company has a coastal bias.

Image source: Getty Images.

The company began as a single store in Seattle in 1971, selling whole bean coffee, tea, and spices.

The turnaround seems to be working Starbucks' share price is up 20% so far in 2026, after several difficult years when it moved sideways to slightly down, due to flagging sales and a loss of customers who were tired of the coffee chain's long waits and inconsistent product quality, among other problems.

Niccol, a former CEO at Chipotle, was hired in 2024 to turn the business around, and he seems to be having some success this year.

Among other changes in his "Back to Starbucks" strategy, Niccol cut almost 2,000 corporate workers from its payroll and closed hundreds of underperforming locations. He also had the company invest in stores to increase the timeliness and quality of orders.

In the second quarter (ended March 29), the company increased revenue 9% year over year to $9.5 billion and boosted earnings 14.5% to $0.50 a share. Both figures beat Wall Street's expectations, sending the stock higher. The quarter was the second consecutive period that the company saw traffic growth at its locations. Management also increased full-year guidance for 2026.

The stock is up about 5% since the second quarter results were announced.

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Niccol's turnaround is just a few quarters old, of course, but it looks like the strategy is gaining traction, and the market recognizes it. If his plan to double the international store count comes to fruition, investors might be very happy they invested $1,000 in the stock today.

Key Takeaways RCL expects fuel rates to reduce adjusted EPS by 62 cents for the remainder of 2026.Royal Caribbean sees net cruise costs, excluding fuel, to be approximately flat for the full year.RCL projects a full-year fuel expense of about $1.35B, with 59% of the remaining 2026 fuel hedged. Royal Caribbean Cruises Ltd. (RCL - Free Report) is working to protect 2026 earnings as higher fuel prices create a meaningful cost headwind. The company expects fuel rates to reduce adjusted earnings per share (EPS) by 62 cents for the remainder of the year, while lower expected earnings contribution from TUI Cruises adds another 12-cent drag. Full-year fuel expense is projected to be approximately $1.35 billion, with about 59% of the remaining 2026 fuel consumption hedged at rates meaningfully below market levels.

The earnings outlook is supported by continued cost discipline. RCL expects net cruise costs, excluding fuel, to be approximately flat for the full year, or 50 basis points better than its prior guidance. The company continues to focus on efficiency improvements, prudent expense management, technology, supply-chain initiatives and operating processes while maintaining the quality of the guest experience.

The second-quarter outlook provides an important checkpoint for the cost-control case. RCL expects net cruise costs, excluding fuel, to rise 4.6% to 5.1% in constant currency. The increase includes nearly 400 basis points of headwinds tied to additional dry dock days, year-over-year comparisons and higher crew travel costs caused by air travel disruptions and reduced airline capacity.

RCL’s ability to protect 2026 earnings will likely depend on whether it can sustain efficiency gains while delivering moderate capacity growth, yield growth and disciplined expense management. Cost controls may not fully neutralize the 62-cent fuel hit, but they can help limit the earnings impact and support the company’s ability to deliver double-digit adjusted EPS growth in 2026. For 2026, Royal Caribbean expects adjusted EPS of $17.10-$17.50.

How RCL Stacks Up to CompetitorsCarnival Corporation & plc (CCL - Free Report) is also facing fuel-related earnings pressure in 2026. Its guidance includes a 38-cent EPS headwind from higher fuel prices, which more than offsets an 11-cent operational improvement versus prior guidance. CCL expects full-year EPS of $2.21, with fuel assumptions based on Brent averaging $90 per barrel for the remainder of April and May, $85 per barrel in the third quarter and $80 per barrel in the fourth quarter. A 10% change in fuel cost per metric ton for the rest of the year would affect CCL’s bottom line by about $160 million, or 11 cents per share.

Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) is facing fuel pressure alongside a weaker earnings outlook. The company expects fuel expense of approximately $800 million based on current spot prices, although fuel expense would be about 6% lower if rates were based on the forward curve. Reflecting softer-than-expected top-line performance and higher fuel costs, NCLH reduced its full-year adjusted EBITDA guidance to $2.48-$2.64 billion and adjusted EPS guidance to $1.45-$1.79.

RCL’s Price Performance, Valuation & EstimatesShares of Royal Caribbean have gained 16.7% in the past year compared with the industry’s 8.8% growth.

RCL Stock’s One-Year Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, RCL trades at a forward price-to-earnings ratio of 16.92, above the industry’s average of 16.72.

RCL’s P/E Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for RCL’s 2026 earnings implies a year-over-year uptick of 10.4%. The EPS estimates for 2026 have declined in the past 60 days.

EPS Trend of RCL Stock
Image Source: Zacks Investment Research

RCL’s Zacks RankRCL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

© jetcityimage / iStock Editorial via Getty Images

The headline number for this article is $180, and I want to address it head on before anyone scrolls further.

Our proprietary 24/7 Wall St. price target for PepsiCo (NASDAQ:PEP | PEP Price Prediction) is $170.18 over the next 12 months, with a clear path to $180 in the bull case as the World Cup activation, productivity savings, and convenient foods recovery compound through 2027. With shares at $142.02, that base case implies 19.83% upside.

Metric Value Current Price $142.02 24/7 Wall St. Price Target $170.18 Upside 19.83% Research View Constructive Confidence Level 90% A Defensive Name That Just Went on Sale PEP has fallen 4.42% over the past 30 days and 1.19% in the last week, partly reflecting hawkish Fed commentary that dimmed appetite for dividend stocks. Zooming out, shares are up 14.55% over the past year and Pepsi remains a Consumer Defensive anchor with a beta of 0.359.

Q1 FY2026 delivered core EPS of $1.61 on revenue of $19.44 billion, a 8.5% year-over-year gain. Operating margin expanded 210 basis points to 16.5%, and management reaffirmed full-year organic revenue growth of 2% to 4%. The next earnings catalyst lands on July 9, 2026.

Why Bulls See $180 by Mid-2027 Piper Sandler maintains an Overweight rating with a $178 price target, while TIKR’s longer-term model points to $208 by December 2030. Our bull case scenario lands at $177.28 by June 2027, with the $180 mark within reach if Q2 and Q3 earnings extend the Q1 beat streak.

Growth drivers are tangible. CEO Ramon Laguarta noted that PBNA grew 9% in Q1, and international markets are accelerating around the 2026 World Cup activation. PFNA added 300 million new consumption occasions versus the prior year.

Laguarta stated: “We’ve seen momentum in PBNA, both organic and reported…And sequential growth in PFNA.” Add a $10 billion buyback authorization, the 54th consecutive dividend hike, and active institutional buying, and the bull math works.

The Risks Worth Watching Tariff-driven commodity costs hit PBNA with an 11 percentage point impact in Q4 25, and FY25 operating income fell 19.57% on Rockstar and Be & Cheery impairments totaling $1.993 billion. Volume softness in convenient foods and slower snack consumption tied to GLP-1 adoption could pressure organic growth toward the bottom of the 2% to 4% range. Our bear case scenario stops at $152.27.

The FY25 impairments were one-time charges. Operating cash flow still came in at $12.087 billion, with FCF conversion guided above 80%. Bulls argue the impairments reflect aggressive portfolio cleanup rather than core business deterioration.

PepsiCo Price Prediction 2026-2030 The 24/7 Wall St. price target stands at $170.18 with 90% model confidence. Q1 delivered +8.5% revenue growth and a 210 bp margin expansion, yet shares trade closer to the 52-week low than the high.

The setup looks constructive for a low-beta compounder with a 4% yield and a clear path to $180 by 2027. The thesis weakens if Fed hawkishness continues penalizing dividend payers through the back half of 2026.

Here is where our model projects PEP could trade, assuming current growth trajectories and margin recovery hold.

Year 24/7 Wall St. Price Target 2026 $156 2027 $180 2028 $202 2029 $224 2030 $247 These projections assume PEP continues executing the productivity and innovation strategy Laguarta outlined, with the World Cup activation and poppi integration supporting beverage growth.

Significant upside or downside could result from sustained commodity inflation, faster-than-expected GLP-1 impacts on snack volumes, or larger buyback execution against the new $10 billion authorization.

PayPal Ventures is taking a break.

Five sources told Fortune that the corporate venture arm, which was founded in 2016, will be winding down operations. A company spokesperson confirmed the news to TechCrunch, albeit with a nuanced statement:

“As part of our continued efforts to sharpen our focus, we are exploring strategic options for our corporate venture arm,” the spokesperson said in an email.

PayPal Ventures has made more than 80 investments, including the crypto trading platform Talos Global, fintech infrastructure company Plaid, and the crypto bank Anchorage Digital. It has raised $850 million across three funds. 

PayPal Ventures still exists on paper and has a few employees supporting its portfolio of startups. However, it has paused new investment activity — at least for now.

The decision follows the departure of PayPal CEO Alex Chriss, who was replaced by Enrique Lores in February. The board said Chriss had failed to keep pace with industry changes and did not meet its expectations. Ironically, the end of PayPal Ventures could mean the company falls further behind. The venture arm gave PayPal a front-row seat to emerging fintech innovation; without it, the company risks losing visibility into startups shaping the future of financial services and falling behind competitors that maintain strategic venture arms.

Lores took the helm with the mission to restructure things, and he has done so, with more cuts and layoffs expected to continue throughout the next few years, Fortune reported. The outlet also said that PayPal is exploring secondary sales to offload some of its venture holdings and has hired Jefferies to help with that task. Lores said in the company’s first-quarter earnings call last month that it needed to “recommit to the fundamentals,” which included “becoming a technology company again.”

It’s clear the company wants to reposition itself in the ecosystem — particularly around AI — which means this may not be the final chapter for corporate venture investing at PayPal.

The PayPal Venture news also comes after the company reached a settlement in May with the Justice Department over the creation of an investment program back in 2020 that targeted Black and minority-owned businesses. Under the settlement, PayPal agreed to waive processing fees for $1 billion of transactions – a value of about $30 million, according to the DOJ. PayPal was also sued in January 2025 by an investor who claimed she was excluded from the investment program because she was Asian. That case looks to be headed toward trial, according to court documents.

This article has been updated to include more information about the portfolio and to clarify that new investments have been paused.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Dominic-Madori Davis is a senior venture capital and startup reporter at TechCrunch. She is based in New York City.

You can contact or verify outreach from Dominic by emailing [email protected] or via encrypted message at +1 646 831-7565 on Signal.

Qualcomm Inc. QCOM shares moved lower on Tuesday, falling about 6% in trading as a broader technology selloff weighed on sentiment, even as fresh reports pointed to an expansion of its artificial intelligence ambitions.

The decline came despite Bloomberg reporting that Qualcomm is in advanced talks to acquire AI infrastructure software company Modular Inc. in a deal valued at around $4 billion.

A transaction could be announced in the coming weeks, though sources emphasized that a final agreement is not guaranteed and terms could still change.

Qualcomm stock has been one of the stronger performers in the semiconductor space in recent months, rising 72% over the past three months and gaining around 30% year to date.

Investors have been positioning ahead of the company’s investor day on Wednesday, where Qualcomm is expected to provide updates on its next-generation processor strategy and potentially identify a major customer for a custom data-center chip.

Modular Inc., founded in 2022 in Silicon Valley by Chris Lattner and Tim Davis, former Google employees, focuses on building software tools designed to simplify the deployment of artificial intelligence models across different hardware systems and cloud environments.

According to its website, the founders created the company after becoming “frustrated by AI’s fragmented infrastructure.”

The startup has positioned itself in a growing segment of the AI market focused on inferencing and cross-platform deployment, an area increasingly seen as critical as AI workloads expand beyond training into real-world applications.

Modular raised $250 million in a September funding round at a $1.6 billion valuation, bringing total capital raised to $380 million.

The reported acquisition price of roughly $4 billion would represent more than a 2.5-times increase in valuation in less than two years.

The company is backed by investors including DFJ Growth, Factory, General Catalyst, Google Ventures, Greylock Partners and US Innovative Technology Fund.

The Modular discussions are part of a wider acquisition strategy aimed at strengthening Qualcomm’s position in artificial intelligence.

The Information in a seperate report said that the company is in talks to acquire AI chip startup Tenstorrent for between $8 billion and $10 billion.

If completed, the two deals would reflect a dual-track AI expansion strategy: hardware capabilities through Tenstorrent and software infrastructure through Modular.

Qualcomm has previously pursued similar expansion efforts through acquisitions, including its agreement to buy Alphawave IP Group Plc for about $2.4 billion in cash.

Its earlier attempt to acquire NXP Semiconductors NV was ultimately scrapped due to regulatory hurdles.

The company is expected to use its upcoming investor day to provide further details on its AI roadmap, including custom chip development and potential major customer relationships.

Despite the acquisition momentum, Qualcomm shares remain under pressure in the near term amid a broader tech sector downturn.

FDA Advisory Committee To Review Moderna Flu Vaccine ApplicationThe company submitted an application in December 2025 for mFlusiva (mRNA-1010), an mRNA-based trivalent influenza vaccine.

The VRBPAC panel’s vote will focus on the risk-benefit profile of mFlusiva for influenza prevention in adults aged 50 to 64 years, and in the 65-year-and-older population.

The briefing document released on Tuesday identified no major deficiencies.

The primary efficacy analysis demonstrated that mRNA-1010 (TIV) met all prespecified sequential success criteria—noninferiority, superiority, and super-superiority—relative to the standard-dose (SD) comparator.

Questions Around Comparator Choice And Clinical DataThe VRBPAC members will consider whether the standard-dose flu vaccine used as the control was the most appropriate comparator. High-dose, recombinant, and adjuvanted flu vaccines are generally preferred for adults 65 and older.

FDA Decision Timeline And Proposed Approval StrategyFollowing a Type A meeting, the FDA assigned a Prescription Drug User Fee Act goal date of August 5 for mRNA-1010. It’s for adults aged 50 and older.

Moderna proposed a regulatory pathway based on age, seeking full approval for adults aged 50 to 64 and accelerated approval for adults 65 and older, along with a postmarketing requirement to conduct an additional study in older adults.

Moderna Analyst Sees Opportunity But Flags Some UncertaintiesWilliam Blair noted that the scope of Moderna's postmarketing commitments remains unclear. The company's willingness to fund potentially costly Phase IV studies are important given management's guidance to limit additional spending on its respiratory vaccine franchise.

Analyst Myles Minter said mFluSiva could become a meaningful driver of Moderna's revenue growth in 2027 if approved.

However, Minter maintained a Market Perform rating, citing the need for greater visibility into Phase 3 INTERPATH-001 data for intismeran in adjuvant melanoma, expected in 2026, which he views as a more significant long-term catalyst for the stock.

MRNA Stock Price Activity: Moderna shares rose 1.19% at $56.06 during premarket trading on Wednesday, according to Benzinga Pro data.

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Intel (NASDAQ:INTC | INTC Price Prediction) ripped higher last week after former President Donald Trump posted on Truth Social that Apple (NASDAQ:AAPL) had agreed to design and manufacture chips with Intel inside the United States. Intel closed up 10.64% at $133.99, with INTC stock now above $140. Bernstein’s Stacy Rasgon, on CNBC, framed the move bluntly. “Intel at these prices, I mean, you’re betting on foundry success.”

What the rumored Apple deal actually is Neither company has confirmed anything. No official statements from Apple or Intel had been issued as of Thursday afternoon, and Wedbush analysts cautioned that Apple’s involvement would likely focus on mature or lower-end silicon rather than its flagship processors. So when Rasgon says the rumored part is probably a low-margin PC chip, that lines up. The dollars at stake on day one are small.

“The first step is always the hardest. And if it actually does happen, at least it’s the first step.” Apple has been a TSMC customer for years. Pulling any wafer volume back to Arizona is symbolic capital that compounds. Dan Ives of Wedbush agreed, telling viewers “This is the right time to now really double down on a potential partnership.”

Why foundry is the entire thesis CEO Lip-Bu Tan has spent a year telling investors the foundry business is the future of Intel, and the numbers have started to cooperate. Q1 FY2026 Intel Foundry revenue came in at $5.421 billion, up 16% year over year, an acceleration from +4% in Q4 2025 and -2% in Q3 2025. Tan attributed the jump to “unprecedented demand for silicon and advanced packaging.” You can read the full release on Intel’s Q1 8-K filed with the SEC.

The losses are still real. Foundry operating losses ran $3.2 billion in Q2 2025, $2.3 billion in Q3 2025, and $2.51 billion in Q4 2025. Tan needs external customers to fill the new Arizona fabs or the depreciation math never works. He has been picking them up. NVIDIA (NASDAQ:NVDA) put $5 billion into Intel common stock last year, SoftBank added $2.0 billion, and Intel joined the Terafab project alongside SpaceX, xAI, and Tesla. The U.S. government took roughly a 10% stake and disbursed $5.7 billion in CHIPS Act funding in Q3 2025 alone. Apple would be the consumer-brand stamp the roster has been missing.

The valuation is doing real work here Intel’s market cap sits near $588 billion, with a forward P/E around 147x and trailing EPS still negative at -$0.60. The stock is up 563% over the past year and 257% year to date from a starting price of $36.90.

The consensus analyst target is $93.12, which sits well below where the stock trades today. So either the sell side is too slow or the market is paying a serious premium for foundry optionality. Bank of America’s Vivek Arya jumped sides on June 11, double-upgrading Intel to Buy with a $135 price target and modeling foundry revenue surpassing $45 billion by 2030.

What Apple gets, and what to watch For Apple, the calculus is supply diversification. Tim Cook just warned that product price increases are “unavoidable” because AI demand is bidding up memory and storage costs, with TechInsights estimating an extra $270 in cost on the next iPhone Pro. A second U.S.-based source on mature nodes is cheap insurance. Apple shares barely moved, up 0.7% to $298.01, which is the right reaction for a $4 trillion company taking a small hedge.

The investor question now is whether Intel and Apple confirm the arrangement, and at what node. Intel 18A is already in high-volume manufacturing in Arizona, and the 18A-P process recently entered risk production. If the first Apple parts run on those lines, Rasgon’s first step turns into a credible second one. If the announcement stays a Truth Social post, the foundry premium baked into Intel’s stock gets a lot harder to defend.

Jim Cramer, the longtime host of CNBC's Mad Money, recently named Intel (INTC 1.39%) his top artificial intelligence (AI) chip stock. This was a pretty bold move considering that the stock has already rallied by 263% so far this year.

Indeed, Cramer commands one of the more durable audiences in retail investing. His rapid-fire delivery and unfiltered opinions have resulted in countless soundbites featuring actionable investment ideas amid market noise. With that said, his visibility can be polarizing, and detractors often label his calls hyperbolic -- noting the many instances where his enthusiasm has outpaced important nuance or his timing has proven inaccurate.

Nevertheless, his Intel bull thesis centers on two underappreciated dynamics: the company's CPU heritage as the artificial intelligence revolution heads towards its agentic AI era, and the tangible signs that its chip foundry operation is stabilizing. These points deserve scrutiny rather than a simple echo of pundit commentary. Let's dig in to see if Cramer is right.

Image source: The Motley Fool.

Move over, GPUs -- CPUs are making a comeback When given a specific objective to accomplish, agentic AI systems can plan out a set of steps, gather data, and follow through with multistep actions to complete it with minimal human oversight. These software models are changing the nature of the accelerated computing equation, moving it beyond its prior focus on parallel processing power. When it comes to training generative models and basic inference deployments, the complex matrix operations involved need to be handled by GPUs or other types of parallel processing chips. But when users are deploying fleets of autonomous agents, that introduces orchestration layers that CPUs handle more efficiently.

During the earlier stages of the AI revolution, hyperscalers could sequence their chip purchases: first securing massive GPU clusters from Nvidia, and then retrofitting their servers or expanding CPU capacity later as their utilization needs became clearer. This tactic worked when AI workloads were dominated by generic training jobs or simple inference serving.

However, the rise in agentic workloads is inverting the old logic. GPU servers already connect each accelerator with a host CPU to manage traffic, memory coherency, and virtualization. The growth of agentic deployments exponentially multiplies the volume of CPUs required. Because each agent instance can create its own dynamic sub-tasks by querying external APIs and maintaining persistent context, the CPU architectures to support the whole system must now be procured and installed earlier in the process.

Intel's long history in server CPU production positions it to capture incremental socket demand that pure-play GPU designers will struggle to meet. The result is not a zero-sum displacement of GPUs, but a multiplier effect whereby each new tranche of AI accelerators sold results in orders for the CPUs that will make those clusters usable at scale.

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Intel's foundry recovery has been gradual, but respectable Throughout most of the AI revolution, Intel struggled with advanced-node chip manufacturing. Recent capital investments from both Nvidia and the U.S. government, as well as the hiring of Lip-Bu Tan as CEO last year, have helped the company make rapid improvements in the foundry operation.

During the first quarter, Intel's foundry business generated $5.4 billion in revenue -- an increase of 16% year over year. While this may look impressive on the surface, external foundry revenue -- sales that are not attributed to Intel's own products -- was only $174 million. Meanwhile, the foundry unit is still operating at a hefty loss.

Nevertheless, I think that a credible turnaround of Intel's foundry operation actually matters less for its own chips than for the broader AI infrastructure ecosystem. What I mean by that is that the chip sector's concentrated reliance on a single offshore manufacturer (Taiwan Semiconductor Manufacturing) introduces a number of potential points of failure -- geopolitical, logistical, or capacity-related.

Sophisticated buyers are going to increasingly price these factors into their capex plans. Against this backdrop, Intel's ability to secure more external customers for its leading-edge process nodes would validate its recovery and help it diversify its revenue sources away from its legacy integrated devices. While its external foundry business is still small, it has grown nearly sixfold year over year. I'm cautiously optimistic the company can capitalize on the demand tailwinds going forward.

Is Intel stock still a buy? Intel stock's massive upward moves this year have already priced in considerable optimism about AI tailwinds. To achieve sustained share-price appreciation from here will require Intel to convert the CPU demand thesis into measurable design wins and achieve foundry milestones without the multiyear delays that have previously plagued it.

Furthermore, it's important to realize that we are early in the agentic AI era. The infrastructure build-out required to support mass adoption of these applications will likely unfold more gradually than many pundits have predicted. Ultimately, this will give Intel's competitors in the chip design space some time to respond.

Nevertheless, the combination of the resurgent relevance of CPUs and Intel's recent validation as a third-party foundry gives it a degree of optionality that GPU-centric companies lack. Investors evaluating Intel are effectively betting that the next phase of the data center infrastructure build-out will reward balance across the AI chip stack over specialized products.

While Cramer's endorsement amplifies Intel's visibility, the underlying buy case should rest on more observable shifts in AI workload composition and supply chain choices. Whether this translates into durable earnings growth will depend on management's execution, which is never guaranteed. With that said, the directional logic of paired CPU-GPU demand and chip designers' desire to reduce the reliance on overseas foundry partners is enough to at least justify paying close attention to Intel's fundamentals rather than dismissing Cramer's commentary as mere market theater.

Bank of America raised its outlook for several semiconductor companies, including Intel INTC , Arm Holdings ARM and Micron Technology MU , after concluding that demand tied to artificial intelligence infrastructure may remain visible through at least 2028.

The firm increased its projections for global wafer fabrication equipment spending, which covers tools used to manufacture semiconductors. Bank of America now forecasts the market will reach $190 billion in 2027 and expand to $250 billion in 2028, reflecting a stronger trajectory than previously expected.

According to Bank of America, the revised outlook is supported by additional cleanroom capacity coming online, longer-duration agreements in the memory market and ongoing technology transitions that could increase equipment requirements for chip production. The firm also pointed to operational and capacity developments at Intel and Samsung as factors that may support advanced manufacturing activity in coming years.

Separately, Bank of America lifted its estimate for the semiconductor industry's total addressable market to $2.7 trillion, up from a prior forecast of $2.3 trillion. The brokerage said memory products and data-center infrastructure are expected to account for much of that expansion, while automotive and industrial end markets could provide an additional source of growth as those segments continue to recover.

Adobe (ADBE, Financials) is leaning further into AI for marketing and customer experience. The company announced new solutions and partnerships at Cannes Lions 2026 with Accenture, Omnicom, WPP and Stagwell's Code and Theory. The goal is to help brands create, manage and measure campaigns with more automation.

Adobe and Accenture Song have developed a framework for AI-powered customer experiences. Omnicom is also using Adobe technology in its AI Agentic Operating Model for industries such as autos, retail, pharmaceuticals and financial services.

WPP is launching a connected intelligence layer that links paid media spending with customer experience data. Code and Theory is rolling out a content system for sports organizations, using Adobe tools to connect fan data with content workflows.

The announcements show Adobe trying to defend and expand its role in marketing software as AI changes how brands produce content and run campaigns.

For investors, the key question is whether these partnerships can turn AI interest into stronger revenue growth after concerns about slower momentum in Adobe's core business.

© David Tran / iStock Editorial via Getty Images

Few large-cap software names have fallen as far, as fast, as Adobe (NASDAQ:ADBE | ADBE Price Prediction) over the past year. The stock has gone from a creative-software bellwether to a value puzzle, with the market pricing in AI disruption while management keeps raising guidance. That gap is where our model sees opportunity.

Adobe trades at $194.90 as of June 22, 2026. Our 24/7 Wall St. price target for Adobe is $264.05 over the next 12 months, implying 35.48% upside. Our recommendation is buy, with confidence of 90%.

24/7 Wall St. Price Target Summary Metric Value Current Price $194.90 24/7 Wall St. Price Target $264.05 Upside 35.48% Recommendation BUY Confidence Level 90% A Year of Pain Meets a Beat-and-Raise Quarter ADBE has fallen 44.31% year to date and 48.29% over the past year, with shares trading 28% below the 52-week high of $392.58 and just above the $190.12 low.

Yet the fundamentals remain intact. Q2 FY2026 delivered record revenue of $6.62 billion, up 13% year over year, with non-GAAP EPS of $5.96 marking the fifth consecutive beat. AI-first ARR tripled to exceed $500 million, and management raised FY2026 revenue guidance to $26.50B–$26.60B.

The selling pressure comes from elsewhere. Citi cut its price target to $228 from $264 on June 20, citing a roughly $500 million implied reduction to organic ARR as Adobe pivots toward freemium acquisition. Sector-wide AI subscription fears, the CFO transition (Dan Durn departed June 15, 2026), and CEO succession have compounded the de-rating.

The Case for $328 and Above Bulls point to AI monetization that is accelerating, not stalling. AI-first ARR moved from a $250M target in Q3 FY2025 to $500M+ by Q2 FY2026. The CX Enterprise Coworker launch and Cannes Lions partnerships with Accenture, Omnicom, WPP, Anthropic, and Microsoft reposition Adobe as agentic infrastructure rather than disruption target.

Operating cash flow hit $2.17 billion in Q2, funding $2.111 billion in buybacks. Our bull case price target is $328.58, a 68.59% return. The Reddit thesis put it bluntly: “Wall Street thinks AI is coming for Adobe’s lunch. I think Adobe already put it behind a paywall and called it dinner.”

What Could Go Wrong The bear case is real. Freedom Broker downgraded ADBE to Hold from Buy, calling Adobe’s growth “acquired rather than organic” and pointing to a “show-me phase.” Generative AI competitors (Figma, Canva, OpenAI) threaten the creative workflow moat, and the 132 recent insider transactions have skewed net selling.

Q2 GAAP EPS of $4.25 reflected a $70M goodwill impairment and $30M litigation accrual, although those are non-recurring items and non-GAAP EPS still beat. Our bear case target is $235.93, still a 21.05% return from here.

Adobe Price Prediction 2026-2030 At an implied forward P/E near 8x, ADBE is pricing in significant AI disruption that the numbers do not yet show. Our 24/7 Wall St. price target of $264.05 implies 35.48% upside, with 90% confidence and a buy call.

The Q2 beat-and-raise tips the scale. The setup looks constructive if Q3 ARR growth holds at the guided trajectory. The thesis weakens if Adobe walks back its FY2026 ARR growth target of 10.2% on the next earnings report.

Year 24/7 Wall St. Price Target 2026 $231.09 2027 $285.23 2028 $355.18 2029 $396.75 2030 $445.34 These projections assume Adobe continues converting AI-first ARR into durable subscription revenue. Significant upside or downside could result from regulatory resolution on Semrush, new leadership execution, or a faster-than-expected shift in creative software economics.

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ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that it intends to offer shares of its common stock, par value $0.01 per share, (the “Common Stock”) at an aggregate public offering price of $100 million in a SEC-registered offering. Such shares (the “Borrowed Shares”) will be loaned by the Company to J.P. Morgan Securities LLC (in such capacity, the “Share Borrower”), one of the underwriters of the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the offering of Borrowed Shares and neither the Company nor The Hertz Corporation, the Company’s wholly-owned indirect subsidiary (the “Hertz Corp.”), will receive any of the proceeds of the offering, but the Share Borrower will pay the Company a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. The Company has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes (as defined below) may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock otherwise prevailing from time to time. The offering of the Borrowed Shares is contingent upon the closing of a private offering of the Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) that Hertz Corp. intends to offer, subject to market and other conditions, in a private placement to qualifying investors. The private offering of the Notes is not contingent upon the closing of the offering of the Borrowed Shares.

The offering of the Borrowed Shares will be made by means of a prospectus. Copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204.

This press release is not an offer to sell or purchase or a solicitation of an offer to sell or purchase the Borrowed Shares or the Notes, and does not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.

ABOUT HERTZ

Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “will” and “intend” and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the proposed offering of the Borrowed Shares, the proposed offering of the Notes and the anticipated completion and timing of the offering. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the offering, unanticipated uses of capital and those in our risk factors that we identify in the prospectus for the offerings and our most recent annual report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission on February 26, 2026, and any updates thereto in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.

More News From Hertz Global Holdings, Inc.

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FedEx Corp (NYSE:FDX, XETRA:FDX) shares fell nearly 5% in after-hours trading on  Tuesday after the package delivery company issued fiscal 2027 earnings guidance that came in below Wall Street expectations, overshadowing stronger-than-expected fourth quarter results.

FedEx projected fiscal 2027 adjusted diluted earnings per share of $16.90 to $18.10, below the consensus analyst estimate of $19.86.

The company also expects revenue growth of 11% year-over-year.

For the fourth quarter of fiscal 2026, FedEx reported adjusted earnings per share of $6.31 on revenue of $25 billion, exceeding analysts' estimates of $5.92 per share and $24.01 billion in revenue.

Revenue increased 12.6% from a year earlier, while adjusted EPS rose from $6.07 in the prior-year quarter.

“Team FedEx delivered an impressive finish to a strong fiscal year, providing excellent service to our customers and successfully executing on our transformation initiatives,” FedEX CEO Raj Subramaniam said.

“With the successful spin-off of FedEx Freight, we are entering this next chapter positioned to grow while further optimizing our network, lowering our cost to serve, creating meaningful long-term value, and driving robust free cash flow.”

Teva Pharmaceuticals (TEVA +3.14%) is morphing from a generic drug maker into one that develops more innovative -- and profitable -- drugs. The stock is up more than 10% this year, and more than 95% over the past year.

On June 8, the company released data regarding its therapies, Austedo and Austedo XR (extended relief), at the Psych Congress Elevate. The three-year study showed that while more than 50% of tardive dyskinesia patients saw symptom improvement in controlling involuntary movements within 15 weeks, an additional 23% achieved success with long-term treatment.

This means that Austedo XR may be able to expand beyond its approved use to treat the involuntary movements (chorea) of Huntington's disease. The company also released a study on June 5 showing that 60% to 71% of Huntington's disease chorea patients experienced improvement with Austedo or Austedo XR.

This data provides doctors with strong therapeutic justification to prescribe Austedo or Austedo XR over competitors, securing market share for years to come. Here's one more reason to buy Teva stock, and one reason not to.

Image source: Getty Images.

The company's pivot is becoming more profitable In the first quarter of 2026, the company reported revenue of $4 billion, up 2% year over year. Its innovative brands, Austedo, migraine med Ajovy, and long-acting schizophrenia therapy Uzedy, together grew revenue by 41% over the same period last year. Earnings per share (EPS) rose 72% year over year, to $0.31. The key point is that the company's new drugs are offsetting its declining generic sales.

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Meanwhile, the company's application for a long-acting version of olanzapine for once-monthly treatment of schizophrenia is currently under review by the Food and Drug Administration (FDA).

This structural pivot expanded Teva's non-GAAP gross profit margin to 52.9% in Q1. The company is generating healthy free cash flow, estimated at $2 billion to $2.4 billion this year, which is being actively used to pay down its heavy debt load.

In April, the Israeli pharma struck a deal to acquire Emalex Biosciences for $700 million upfront. This included ecopipam, a dopamine D1 receptor antagonist that's en route to an FDA submission for Tourette syndrome this year. The drug has already received FDA fast-track and orphan drug designations.

Disappointing guidance, supply issues Teva's overall full-year 2026 financial guidance disappointed Wall Street. The company projected total 2026 revenue of $16.4 billion to $16.8 billion -- representing flat to slightly negative growth compared to 2025. That helps explain why the stock has fallen more than 3% since Teva released its Q1 earnings on April 29.

This stagnation is primarily due to intense generic competition eating into other parts of the portfolio (such as the generic version of the cancer drug Revlimid) and a drop-off in one-time milestone payments from partnerships (such as Sanofi). Because Austedo XR is carrying so much weight on its shoulders, any future slowdown in its adoption could leave Teva with very few places to hide, capping the stock's near-term upside until its next-generation immunology pipeline begins to commercialize in 2027.

The other concern is that ongoing conflicts in the Middle East and the blockade of the Strait of Hormuz have disrupted the movement of active pharmaceutical ingredients, and rising energy costs make it more expensive to ship drugs.

It's still a company headed in the right direction The company's move to pursue growth is obviously paying off, and its innovative drugs target conditions with unmet needs, giving them less competition.

Teva received FDA approval in March for biosimilar Ponlimsi to treat osteoporosis and bone loss. The company's pipeline includes six additional biosimilars that are expected to receive regulatory decisions this year. One of the most promising is omalizumab, a biosimilar to Xolair, made by Novartis (NVS +0.79%) and Roche (RHHBY +2.50%) to treat chronic hives.

The stock is trading at less than 15 times forward earnings, and considering its potential catalysts this year, that still seems like a bargain.

Key Takeaways Pfizer shares fell nearly 3% after CFO Dave Denton announced he will leave on Aug. 15.PFE reaffirmed 2026 guidance, expecting $59.5B-$62.5B in revenue and $2.80-$3.00 adjusted EPS.Pfizer named Cecile Guega interim CFO and said Denton will support the transition. Shares of Pfizer (PFE - Free Report) declined nearly 3% on Thursday after the company announced the departure of its chief financial officer (CFO), Dave Denton.

Denton will step down from his current role on Aug. 15 for “a professional opportunity outside of the pharmaceutical industry in consumer goods.” The company has initiated a comprehensive internal and external search for a permanent successor. Cecile Guega, currently senior vice president of finance for Pfizer’s global biopharmaceutical business, will serve as interim CFO beginning Aug.16. Guega will work alongside Denton during the transition period to ensure continuity across the company’s financial operations.

Denton’s resignation comes as a surprise, particularly as Pfizer continues to execute its post-pandemic transformation strategy. Since joining the company in May 2022, Denton has overseen several key initiatives, including cost realignment efforts, business development transactions (which include Seagen and Metsera deals) and capital allocation decisions aimed at stabilizing earnings following the sharp decline in COVID-related revenues.

Despite the leadership change, Pfizer reaffirmed its previously issued 2026 financial guidance, signaling that the transition is not expected to alter its near-term strategic priorities or operational outlook.

PFE Stock PerformanceYear to date, the company’s shares have gained over 1% compared with the industry’s 3% growth.

Image Source: Zacks Investment Research

Pfizer’s 2026 GuidanceThe company expects total revenues for 2026 to be between $59.5 billion and $62.5 billion. The range indicates a decline from 2025 revenues of $62.6 billion due to lower revenues from COVID products and loss of revenues from the upcoming patent cliff.

Pfizer expects adjusted EPS for the year in the range of $2.80-$3.00, which represents a decline from the 2025 EPS of $3.22 due to the dilutive impact of last year’s acquisition and licensing deals, lower COVID revenues and higher taxes.

Adjusted gross margin is expected to be in the mid-70% range, similar to the past several years. Adjusted R&D expenses are expected to be in the range of $10.5 billion to $11.5 billion in 2026, while adjusted SI&A spending is targeted between $12.5 billion and $13.5 billion.

The adjusted effective tax rate is expected to be approximately 15% in 2026.

PFE’s Zacks RanksPfizer currently carries a Zacks Rank #3 (Hold).

Key Picks Among Biotech StocksSome better-ranked stocks from the sector are Immunocore (IMCR - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents. Over the same period, estimates for 2027 EPS have risen from 24 cents to 87 cents. IMCR’s shares have lost nearly 18% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 46.66%.

Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.33 to $4.05. Over the same period, EPS estimates for 2027 have risen from $3.66 to $4.27. INDV’s shares are up nearly 7% year to date.

Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.

A Pfizer logo is shown at a research facility in the La Jolla neighborhood of San Diego, California, U.S., September 30, 2025. REUTERS/Mike Blake//File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesContinuing with ongoing trial that combines drug with KeytrudaPlans to explore using the drug with other experimental treatmentsShares fall 1%June 22 (Reuters) - Pfizer (PFE.N), opens new tab said on Monday that one ‌of the key experimental drugs it picked up in its $43 billion 2023 acquisition of Seagen failed to improve survival when compared to chemotherapy in a late-stage trial of lung cancer patients who had already tried other treatments.

The drug, sigvotatug vedotin, ​did not show a statistically significant improvement in the study's primary endpoint of overall ​survival in adults with locally advanced, unresectable or metastatic non-squamous non-small cell ⁠lung cancer (NSCLC) versus the chemotherapy docetaxel, Pfizer said. The company's shares fell more than 1 ​percent in after-hours trading.

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Pfizer said that it was still confident in the potential of the drug ​due to a stronger survival trend in the patients who had received only one prior course of treatment, as well as data from an early stage trial where the drug was used in combination with Merck's (MRK.N), opens new tab Keytruda.

"In ​patients who had received only one prior line of therapy here, we did see very ​favorable trends in both progression-free survival and overall survival, suggesting that the drug is active and the payload ‌is getting ⁠directly to the cancer cells," Pfizer Chief Oncology Officer said in an interview.

The company already has an ongoing late-stage trial of the drug in combination with Keytruda as a first-line treatment. It also plans to explore using the drug with other experimental cancer treatments in its pipeline.

Sigvotatug ​vedotin targets a protein ​known as integrin beta‑6. ⁠In the trial, Pfizer said it found no clear relationship between tumors expressing the protein and patient response to the drug.

Pfizer bought Seagen ​and its portfolio of targeted cancer therapies called antibody-drug conjugates in ​hopes of offsetting ⁠the steep fall in sales of its COVID-19 portfolio and generic competition for some top-selling drugs.

The company is continuing to develop other ADCs, it said, including some that also target the same ⁠protein, ​IB6.

Pfizer shares have dropped more than 50% since early ​2023 as the drugmaker has worked to develop new blockbuster drugs. It has said it expects to return to stronger ​growth in 2028.

Additional reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore and Stephen Coates

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