Track market-moving stories before they get noisy

Chase today announced new capabilities for small businesses that expand its integrated digital hub in Chase for Business mobile and online, bringing together tools owners can use to manage and grow their businesses in one place. The updates include the launch of Business Credit Journey℠, a complimentary tool that helps owners monitor and strengthen business credit, and expanded availability of Customer Insights, an analytics experience that provides visibility into customer and local market trends.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609784520/en/

Client Spotlight (1): “As a small business owner, I was so focused on day-to-day operations that I wasn’t paying attention to my business credit score. This tool helped me better understand my score and why it matters. Now I track it regularly and feel more confident as I work toward growing my business and accessing more capital.” Amado De La Torre, Founder and Owner, Chicago Hot Dogs, San Antonio, TX.

These enhancements reflect Chase’s broader investment in services that go beyond traditional banking. By combining banking tools with actionable insights and time-saving features, Chase is helping small businesses make informed decisions, plan ahead, and pursue growth opportunities within one connected digital experience.

According to a Chase survey of small business owners, only 49% have checked their business’s credit score, highlighting the need for more accessible tools and guidance that help owners better understand and manage their businesses.

“Small business owners are making important decisions every day, and innovation should deliver practical solutions – not just new features,” said Jameson Troutman, Head of Product for Chase for Business. “With Business Credit Journey℠ and other tools in Chase for Business mobile and online, we’re giving owners clearer visibility into their business so they can plan ahead, respond to change, and grow with confidence.”

Helping Owners Better Understand Business Credit

In the Chase survey, 80% of small business owners said a strong business credit score can unlock easier access to credit. A strong business credit profile can support financing opportunities and long-term growth, yet many owners may not monitor it regularly or fully understand the factors that impact it.

Business Credit Journey℠ was built to make business credit more accessible and actionable – so owners can stay informed, identify changes early, and take steps to strengthen their profile over time. It also makes it easy for owners to view their business and personal credit information in one place.

Key features include:

Business credit monitoring to help owners track changes over time Access to two business credit scores provided by Dun & Bradstreet – the Dun & Bradstreet® Small Business Financial Exchange Score and the Dun & Bradstreet® Delinquency Predictor Score – with no hard credit check Email notifications when scores change, plus insights into what may be driving those changes Educational guides on how business credit works, how to establish or improve it, and key factors lenders consider Easy enrollment that does not affect business credit scores Business Credit Journey℠ is available as a complimentary digital tool from Chase for Business in Chase for Business mobile and online. Learn more here

Built-in Analytics to Help Owners Make Smarter Moves

Customer Insights helps business owners better understand customer behavior and local market activity through aggregated, anonymized data and trends, designed to support everyday decision-making while protecting consumer privacy.

Customer Insights, launched for Chase Payment Solutions clients in 2021 and expanded to business checking customers in 2024, is now available to Chase small business credit card customers.

“Customer Insights is an innovative solution that helps businesses run more efficiently and make smarter, data-driven decisions using insights they haven’t had access to before,” said Jenny Shum, General Manager of Chase Small Business Card. “We’re committed to delivering the value and expertise small businesses need to invest and grow their business, beyond our business card’s rich rewards, purchasing power and payment flexibility.”

Capabilities include:

Tracking sales trends and growth in the business’s industry and location to inform operational decisions Exploring demographic trends such as age, gender, and income across top-performing markets Understanding purchase behavior, including spend, time of purchase, and channel (online vs. in-store) Identifying where top customers are concentrated geographically to inform marketing strategy and location decisions Customer Insights is now available to all Chase small business credit card customers at no additional cost within Chase for Business mobile and online. Learn more here

Supporting Small Businesses Beyond Banking

These enhancements are part of Chase’s ongoing investment in services designed to help small businesses run and grow. Through its integrated digital experience in Chase for Business mobile and online, Chase brings together banking, payments, cash flow management, customer insights, retirement solutions, and other financial tools to help business owners manage operations and plan for what’s next.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with operations worldwide, assets of $4.9 trillion and $364 billion in stockholders’ equity as of March 31, 2026. Chase serves nearly 87 million consumers and 7.5 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: more than 5,000 branches in 48 states and the District of Columbia, nearly 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

1 Opinions, findings or experiences included in this communication or provided via linked videos are those of the customer and not those of JPMorgan Chase Bank, N.A. or any of its affiliates and may not be representative of all views or what all customers may achieve. JPMorgan Chase Bank, N.A. nor any of its affiliates are liable for decisions made or actions taken in reliance on any of the testimonial information provided.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260609784520/en/

JPMorgan Chase plans to deploy artificial intelligence agents later this year that can work autonomously for far longer than existing versions, marking another milestone in the corporate adoption of AI, CNBC has learned exclusively.

AI agents are evolving from tools that complete single tasks to digital workers that manage workflows across multiple steps and disparate software programs, Derek Waldron, JPMorgan chief analytics officer, told CNBC in an interview.

"We've entered now the era of long-running autonomous agents," Waldron said. That "means that agents don't just run for two or three minutes to carry out a goal or some instructions of a human, they can run for an hour or two."

Long-running agents have already emerged over the past year as examples including Anthropic's Claude Code and OpenClaw went viral. JPMorgan's planned deployment, however, suggests the technology is close to clearing the security and governance hurdles that have slowed adoption inside large companies.

JPMorgan, run by CEO Jamie Dimon since 2006, is the biggest U.S. bank by assets and has a nearly $20 billion annual technology budget.

While much of the conversation around generative AI has focused on model intelligence, tech leaders are increasingly focused on a different question, said Waldron: How long can AI systems operate effectively before requiring human intervention?

That concept, which Waldron called "intellectual coherence," has been helped by improvements in how AI models reason, enabling them to be more of a "team manager than an individual worker," he said.

"Just like how people function, team managers can parse out a problem and delegate activities, and teams can run for a lot longer to do more complex things," Waldron said.

Other recent advances that have helped agents do more complex jobs include the ability to write code, control web browsers and interact directly with desktop software, he said.

While long-running agents aren't yet ready for corporate use because of security concerns, their arrival isn't far off, Waldron said: "We will have those in 2026."

Eventually, AI agents will remain coherent for "multiple hours, then days, then weeks," he said.

'Diminished' moatsAI-driven productivity gains have been most visible in software development and back-office type operations, but Waldron said it is increasingly boosting revenue-generating roles.

In private banking, for example, AI systems screen market activity, client positions and research overnight, helping bankers focus on client interactions.

The bank has seen a 20% increase in gross sales because of these tools, he said, and believes they could eventually allow individual bankers to expand client coverage by as much as 50%.

Dimon has been clear that some of his workers will be displaced by AI, saying that the firm is preparing to train and redeploy employees impacted by the changes.

But Waldron added that while many companies initially approached AI as a cost-cutting tool, they are increasingly recognizing its potential to expand revenue.

"For enterprises to win with AI, it's not about cutting the maximum number of jobs," he said. "It's all about trying to create a sustainable competitive advantage."

Waldron said that the bank's thinking around building versus buying software from outside vendors has also shifted. JPMorgan now looks more closely at whether it can build capabilities in-house, he said, possibly putting pressure on some traditional vendors.

"The moat around certain types of software companies is most certainly diminished versus where it was in the past," he said.

— CNBC's Gabrielle Fonrouge contributed to this report.

 | 

Chase has introduced new tools for small business in its Chase for Business mobile and online hub.

The updates, announced Tuesday (June 9), include the debut of Business Credit Journey, a tool that helps owners monitor and strengthen business credit, and greater availability of Customer Insights, an analytics offering providing visibility into customer and local market trends.

“Small business owners are making important decisions every day, and innovation should deliver practical solutions – not just new features,” Jameson Troutman, head of product for Chase for Business, said in a news release.

“With Business Credit Journey and other tools in Chase for Business mobile and online, we’re giving owners clearer visibility into their business so they can plan ahead, respond to change, and grow with confidence.”

The release cites a survey by Chase of small business owners showing that less than half had checked their company credit score. This underlines the need for tools to better help owners understand and manage their operations, the release said.

Business Credit Journey, Chase added, lets owners track changes to their credit over time, while giving access to two business credit scores from Dun & Bradstreet. It also notifies owners via email when their scores change, and includes educational guides on how to establish and improve credit.

Advertisement: Scroll to Continue

In other small business news, PYMNTS wrote recently about research showing that for many small and medium-sized businesses (SMBs), the shift away from cash will center less on digital enthusiasm and more on “whether new payment tools can feel as simple, immediate and reliable as cash itself.”

That is the larger story within “Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash and Checks,” a PYMNTS Intelligence report produced in partnership with Mastercard.

The study found many SMBs want to lessen their reliance on cash and checks, but still have practical reasons for holding onto legacy payment methods.

These methods are woven into the businesses’ day-to-day operations, supplier relationships, bookkeeping habits and cash-flow needs. The research also suggests that business cards have room to grow, particularly when they are positioned as tools for control, visibility and working capital and not simply payment products.

“The most revealing finding may be that cash-heavy firms are not necessarily the least ready to change,” PYMNTS wrote. “In many cases, they are among the most interested in doing so. That creates an opening for banks, card issuers and payments providers, but only if they solve for the reasons cash still work.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

Amazon AMZN secured a $17.5 billion senior unsecured delayed draw term loan facility with Citigroup C . Lenders also include JPMorgan Chase JPM , BofA Securities BAC , HSBC HSBC , and Wells Fargo WFC . The facility can be drawn until September 30, 2026, with any borrowed amount maturing three years from the draw date and no financial covenants attached. Amazon shares fell 2.10% intraday.

The loan is for general corporate purposes and gives Amazon the flexibility to draw funds as needed. Earlier this week the company also filed for a five-part debt offering in Canada for up to C$14 billion.

The moves reflect a broader shift among hyperscalers toward debt markets to fund AI buildouts. Combined Big Tech AI capital outlays are on track to surpass $700 billion this year, up from roughly $600 billion previously. Meta META filed its largest bond offering ever last October at up to $30 billion, while Alphabet GOOG recently disclosed plans for yen-denominated bonds.

ToplineJeanine Pirro, the U.S. Attorney for the District of Columbia, is investigating several major banks for allegedly “debanking” customers for political reasons, the Wall Street Journal reported—following up on one of President Donald Trump’s major complaints after his 2020 election loss.

U.S. Attorney Jeanine Pirro reportedly sent subpoenas to JPMorgan and Bank of America on Wednesday.

Getty Images

Key FactsInvestigators have reportedly sent subpoenas to several major banks, including Bank of America and JPMorgan Chase—one of the banks Trump is suing for closing his accounts following the Jan. 6 Capitol riots.

Trump previously signed an executive order last August instructing regulators to examine if banks violated the Equal Credit Opportunity Act, and the Treasury Department’s Office of the Comptroller of the Currency is conducting a probe of the allegations.

However, sources told the Journal that Pirro’s office was conducting its own probe and did not receive a referral from the Treasury Department office.

An official investigation has not been announced as of Wednesday afternoon, and Pirro’s office did not immediately return a request for comment from Forbes.

What Has the Treasury Department Found?The Office of the Comptroller of the Currency issued a preliminary report on the subject in December, finding that nine banks made “inappropriate distinctions among customers” between 2020 and 2023. These included several of the largest banks in the country, including JPMorgan Chase, Bank of America, Citibank and Wells Fargo. The preliminary report said the investigation was ongoing, and the office was still reviewing “thousands” of complaints of alleged debanking of individuals based on “political or religious” values.

TangentTrump named Pirro, a former prosecutor in Westchester County, New York, and Fox News host, as U.S. attorney for D.C. last May. Since then, her office, as well as the Justice Department at large, has come under fire for pursuing investigations of Trump’s political enemies—including an aborted probe of six Democratic lawmakers who appeared in a video urging members of the military not to follow illegal orders. Her office also launched an investigation of former Federal Reserve chair Jerome Powell over renovations to the central bank’s Washington, D.C., headquarters. Pirro dropped the probe into Powell in April, but the prosecutor has also suggested she could restart the investigation in the future.

Key BackgroundTrump has sued two banks for “debanking” him after the Jan. 6 riots—Capital One in March 2025, and JPMorgan Chase in January. In a statement, JPMorgan said the suit had “no merit” and insisted it did not close individuals’ accounts based on “political or religious reasons.” In a February legal filing, JPMorgan acknowledged closing some of Trump’s accounts a month after the Capitol riots. The bank had previously never confirmed if it had closed Trump’s accounts, citing banking privacy laws.

-

Old Spice And Walmart Partner With Big Brothers Big Sisters Of Miami For The “School Of Swagger” Celebration for Graduating Mentees and the Mentors Who Inspire Next-Gen Confidence.

CINCINNATI--(BUSINESS WIRE)--For the 4th consecutive year, Old Spice and Walmart celebrated the Big Brothers Big Sisters of Miami Class of 2026 at the annual “School of Swagger” graduation event at Florida Memorial University. The celebration recognized students for their academic achievements and honored the dedicated mentors who supported them along the way.

In partnership with Old Spice, Sports Analyst and Reporter, Andraya Carter, joined Big Brothers Big Sisters of Miami President and CEO, Gale Nelson, for a candid fireside conversation on-stage. The discussion focused on the lifelong impact of mentorship, how young people can channel their inner confidence, and strategies for manifesting career growth. Carter shared personal stories from her journey as a student-athlete at the University of Tennessee to becoming a versatile broadcaster covering college basketball, football, the NBA, SEC Network and more.

Quick Facts
Initiative: Old Spice & Walmart "School of Swagger"
Primary Partner: Big Brothers Big Sisters of Miami
Keynote Speaker: Andraya Carter (Sports Analyst & Reporter)
Where: Florida Memorial University
Core Mission: Fostering next-gen confidence and reducing the youth mentorship gap

The event is a cornerstone of Old Spice and Walmart’s multi-year “School of Swagger” initiative, a program dedicated to expanding youth mentorship networks, boosting academic retention, and empowering young people with the confidence and support needed to navigate the seas of school and beyond.

“Mentorship has played a huge role in my own journey, from my coaches and teachers to the women and leaders who helped shape me both on and off the court,” said Andraya Carter. “I’m grateful to now be in a position where I can pour back into the next generation and encourage young people to believe in themselves and chase what’s possible. I’m honored to partner with Old Spice and Big Brothers Big Sisters through the ‘School of Swagger’ program to celebrate these students and the incredible impact mentors can have on young people’s lives.”

Throughout the fireside chat, Carter reflected on the mentors who helped influence her career, including legendary basketball coaches and sports personalities who came before her, while encouraging graduates to pursue opportunities with confidence and authenticity.

“Having a mentor in your corner can help build confidence, open doors and create opportunities that last far beyond the classroom,” Carter added. “No matter what path these students pursue — sports, media, business, the arts or beyond — having people who believe in you can make all the difference.”

The annual celebration recognized key milestones for the Class of 2026, highlighting program pillars that include:

Academic Milestones: Honoring students successfully graduating from the eighth-grade and senior high school tracks within the Big Brothers Big Sisters of Miami network. Community & Excellence: Awarding dedicated student scholarships alongside live youth performances. Brand Integrations: Spotlighting tailored product experiences, including products from various Old Spice collections. “For years, Old Spice and Walmart have worked alongside Big Brothers Big Sisters to support students through mentorship and confidence-building programs,” said Kate DiCarlo, Senior Communications Director at P&G. “The ‘School of Swagger’ initiative is rooted in the belief that every young person deserves a strong support system and access to mentors who can help guide them toward their goals.”

“The ongoing School Of Swagger partnership with Old Spice and Walmart highlights the power of corporate citizenship and mentorship," said Gale Nelson, President & CEO, Big Brothers Big Sisters Miami. "With over 1,300 attendees witnessing our 'Littles' walk across the stage to various post-secondary pathways, this partnership reinforces one simple fact - we all have a little in common.”

Old Spice launched the “School of Swagger” initiative in partnership with Walmart and Big Brothers Big Sisters to help foster confidence, create meaningful mentorship connections and support students as they navigate high school and prepare for future success. To learn more about the initiative and how to become a mentor yourself, visit https://oldspice.com/schoolofswagger/

About Old Spice

Old Spice, an iconic grooming brand for more than 80 years, is the No.1 selling antiperspirant and deodorant brand for men in the United States. As a category leader, Old Spice offers pro-level performance across a men’s grooming ecosystem including antiperspirants, deodorants, body washes, body sprays, shampoos, and hair stylers. Old Spice is the authority on the complete men’s grooming regimen. Follow Old Spice's social channels: Instagram, TikTok, Facebook, YouTube, and X.

About Big Brothers Big Sisters of America

Founded in 1904, Big Brothers Big Sisters of America is the largest and most experienced youth mentoring organization in the United States. The mission of Big Brothers Big Sisters of America is to create and support one-to-one mentoring relationships that ignite the power and promise of youth. Big Brothers Big Sisters' evidence-based approach is designed to create positive youth outcomes, including educational success, avoidance of risky behaviors, higher aspirations, greater confidence, and improved relationships. For more information, visit: www.bigbrothersbigsisters.org.

More News From Procter & Gamble

Back to Newsroom

-

Fashion Designer Cynthia Rowley Collaborates on Limited-Edition Brooch to Celebrate the New Collection

CINCINNATI--(BUSINESS WIRE)--Downy is launching Boutique Botanicals, a new line of in-wash scent bead boosters featuring nature-inspired boutique fragrances for your laundry. Crafted by the world-class perfumers at the Downy Fine Fragrance House, the team behind the cult-favorite Unlimited N.26, the collection includes three botanically-driven scents: Citrea, Peonia, and Folia.

Downy Boutique Botanicals draw from the richness of the botanical world, translating the complexity of flowers, herbs, and citrus into fine fragrance for fabric. The new collection is composed with the same craft and artistry as prestige perfumes, delivering a sophisticated, nature-inspired scent that lasts so you can start every day fresh. To mark the launch, Downy tapped fashion designer Cynthia Rowley to design a limited-edition brooch as a wearable expression of scent's role as fashion's most invisible accessory.

"Scent and fashion have always been connected, but this collaboration lets us celebrate that in a new way," said fashion designer Cynthia Rowley. "I was intrigued by the idea of creating a visual representation of fragrance. My family and I have been fans of Downy for years, so designing this brooch to bring Boutique Botanicals to life felt like a full-circle moment."

The Boutique Botanicals Collection includes three nature-inspired scents:

Citrea – Opens with a bright spark of fresh and luminous clementine, before giving way to the honeyed softness of neroli in full bloom. At its heart is a deep, sensual white musk that wraps every fiber in warmth, leaving behind a fragrance that feels less like laundry and more like a luxury you wear all day. Peonia – Softly romantic and richly layered, Peonia begins with the delicate bloom of peony, unfolding into the vibrant sweetness of azalea. A whisper of peppercorn brings an unexpected warmth, creating a fragrance that is soft, enveloping, and endlessly captivating. Folia – Crisp and green, Folia is defined by the herbal clarity of basil, brightened by the sunny lift of bergamot. A cool rush of eucalyptus moves throughout, opening across fabrics with a refreshed, quietly vibrant feel. The clean, invigorating fragrance brings a sense of ease and clarity that lingers throughout the day. "We built Boutique Botanicals on the simple idea that the clothes you wear every day deserve the same sensorial intention as the perfume you put on your skin,” said Benjamin Sattler, Vice President of North America Downy. “Scent is one of the most personal ways to express yourself, and now that can start with your laundry."

Starting now through July 9, consumers can enter the Cynthia Rowley x Downy Boutique Botanicals Sweepstakes for a chance to win the Cynthia Rowley brooch at BotanicalsSweeps.com. The Downy Boutique Botanicals collection is available nationwide with an MSRP of $15.97. To use, add the desired amount to the washing machine drum before adding clothes. Safe for all washable fabrics. For more information, visit www.downy.com.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit https://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at https://www.pg.com/news.

NO PURCHASE NECESSARY. Void where prohibited. Open to legal residents of the 50 US and DC who are 18 years of age or older as of the last day of the month prior to date of entry. The Cynthia Rowley x Downy Boutique Botanicals Sweepstakes starts at 10:00 a.m. ET on 6/9/2026 and ends at 11:59 p.m. ET on 7/9/2026. Sponsored by The Procter & Gamble Distributing LLC. For full rules visit BotanicalsSweeps.com.

More News From Procter & Gamble

Back to Newsroom

© Scott Olson / Getty Images

Procter & Gamble (NYSE:PG | PG Price Prediction) is a stock built for multi-decade ownership because its portfolio of daily-use staples generates the kind of inelastic cash flow that funds a dividend through every economic regime humanity has thrown at it since 1891.

Pillar 1: A Business Built to Outlast Cycles The forever case starts with what P&G actually sells. Tide, Gillette, Crest, and Pampers are not discretionary purchases. Consumers replace detergent, razors, toothpaste, and diapers on a schedule dictated by biology and household routine, not by the unemployment rate. That demand profile shows up in the BEA data: food spending alone rose from $1,513.8B in January 2025 to $1,562.8B in April 2026, and total personal consumption expenditures climbed from $20,462.2B to $21,979.4B over the same window. Households keep buying staples.

That inelasticity gives P&G pricing power. With CPI running at 332.4 in April 2026, the company pushed through tariff and commodity headwinds totaling roughly $400 million and $150 million after-tax while still posting Q3 FY26 organic growth across all five segments and an operating margin (TTM) of 23.1%.

Pillar 2: Income That Compounds Without Drama P&G is in its 70th consecutive year of dividend increases, with roughly $10 billion in dividends and $5 billion in buybacks planned for fiscal 2026. The current quarterly payout is $1.0885, up from $0.9407 in early 2024 and roughly $0.285 in 1999. The dividend yield sits at 2.88%.

Coverage is the part retirees should focus on. FY2025 free cash flow came in at $14.045 billion against a dividend payout of $9.872 billion, a coverage ratio of 1.42x. The eight-year average is 1.61x. Cash conversion ran at 111% in FY2025. The check clears with room to spare.

Pillar 3: Survival Built Into the Balance Sheet P&G has paid a dividend through the Great Depression, two world wars, the 1970s inflation shock, the 2008 financial crisis, and the recent tariff cycle. Beta sits at 0.385, institutional ownership at 71.95%, and return on equity at 31.1%. Trailing P/E is 21x on diluted TTM EPS of $6.83. None of those readings flash danger.

The Scenario Where It Lags In a risk-on bull market led by tech and growth, P&G will trail. Shares are down 5.94% over the past year, currency-neutral core EPS was flat year-over-year in Q3 FY26, and core gross margin compressed 100 basis points on tariff costs. That underperformance is the price of owning a business that does not need a tailwind to function. The forever thesis is about collecting a growing dividend through the next forty years of unknown markets, which is exactly what this balance sheet is engineered to do.

For long-horizon income investors, the setup is straightforward: a defensive cash machine with a 70-year dividend growth record and coverage well above 1x.

Key Takeaways JNJ agreed to acquire Firefly Bio for $1 billion in cash, expanding its oncology pipeline.Firefly Bio's Firelink DAC platform is designed for cancers driven by KRAS mutations.JNJ expects the deal to strengthen efforts in hard-to-treat solid tumors with limited options. Johnson & Johnson (JNJ - Free Report) announced that it has entered into a definitive agreement to acquire California-based biotech, Firefly Bio, for $1 billion in cash.

The impending acquisition will add Firefly Bio’s proprietary Firelink degrader antibody conjugate (DAC) platform to JNJ’s pipeline.

Firefly Bio's Firelink DAC platform, which has been designed for cancers driven by KRAS mutations, is likely to strengthen J&J’s oncology pipeline. The deal is likely to support J&J's efforts to develop targeted treatments for some of the most common and difficult-to-treat solid tumors, where treatment options remain limited.

The transaction is expected to be closed later in 2026, subject to customary closing conditions.

The DAC platform is a new technology designed to overcome some of the limitations of existing cancer treatments by delivering a highly targeted protein degrader directly to tumor cells while minimizing damage to healthy cells.

JNJ Price PerformanceYear to date, shares of J&J have risen 13.4% compared with the industry’s rise of 5.8%.

Image Source: Zacks Investment Research

JNJ Seeks Expansion With M&A PushJ&J has been on an acquisition spree in recent times. In 2025, the company invested more than $32 billion in R&D and M&A, including the acquisition of Intra-Cellular Therapies, which added the antidepressant drug Caplyta to JNJ’s neuroscience portfolio.

Caplyta is approved for the treatment of schizophrenia, depression in both bipolar 1 and 2, and major depressive disorder.

J&J is also building its oncology pipeline through M&A deals. Last year, it acquired Halda Therapeutics, which added a promising clinical-stage treatment for prostate cancer with potential across multiple tumor types.

The acquisition added Halda’s proprietary RIPTAC platform, a technology being used to develop oral, targeted therapies for multiple types of solid tumors.

J&J has also pursued various acquisitions to strengthen its presence in cardiovascular diseases and rare autoantibody-driven disorders.

JNJ's Zacks Rank & Stocks to ConsiderJ&J currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) , Liquidia Corporation (LQDA - Free Report) and Immunocore (IMCR - 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 Indivior Pharmaceuticals’ 2026 earnings per share (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 shares have risen 4.2% year to date.

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

Over the past 60 days, estimates for Liquidia’s 2026 EPS have increased to $2.97 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.81 from $2.91. LQDA shares have surged 85.3% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 60 days, estimates for Immunocore’s 2026 have improved from a loss of 88 cents per share to earnings of 6 cents. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 19.9% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 46.66%.

Joaquin Duato said finding a cure for certain cancers and turning others into chronic diseases is an achievable target for the coming decade.

-

Dean Omar Branham Shirley secures verdict on behalf of family of woman who died from mesothelioma

LOS ANGELES--(BUSINESS WIRE)--A Los Angeles jury has awarded $32 million to the family of a California woman who died from pleural mesothelioma after years of exposure to an asbestos-contaminated talc product, finding Johnson & Johnson (NYSE: JNJ) and its subsidiaries liable for her illness.

“The jury saw the devastating consequences of that exposure and returned a verdict that holds Johnson & Johnson accountable for the harm caused to this family.”

Share Maria Lozano died from mesothelioma in 2024. Her children, John Lozano, Araceli Lenard-Lozano and Jeanette Lozano, continued the lawsuit after her death.

View the verdict form and photos here.

During the trial, the family’s attorneys showed how Ms. Lozano regularly used Johnson & Johnson’s talc-based baby powder on herself and her children from the early 1970s, ultimately leading to her fatal cancer.

“Johnson & Johnson tried to blame everything from environmental conditions in Mexico City to cosmetics and automotive work,” said Dean Omar Branham Shirley (DOBS) attorney Danny Kraft, who represented the family at trial. “The jury carefully considered the evidence and concluded that Maria Lozano’s mesothelioma was caused by decades of exposure to asbestos-contaminated Johnson’s Baby Powder.”

At trial, J&J argued Maria’s asbestos exposure stemmed from environmental conditions in Mexico City, where she spent the first 21 years of her life, as well as cosmetic products and her husband’s automotive work. The jury rejected those alternate exposure theories and assigned 0% fault to the Mexico City facilities, cosmetic products and automotive products.

“Maria Lozano spent decades trusting and using Johnson & Johnson’s baby powder on herself and her children,” said DOBS attorney Mark Linder, who also represented the family at trial. “The jury saw the devastating consequences of that exposure and returned a verdict that holds Johnson & Johnson accountable for the harm caused to this family.”

During the trial, counsel for the Lozano family presented evidence showing that the company failed to adequately warn consumers about the dangers associated with asbestos-contaminated talc despite longstanding knowledge of the risks.

The case is Lozano v. Johnson & Johnson, Coordinated Proceeding Special Title LAOSD Asbestos Cases, Coordinated Case No. JCCP 4674, in the Superior Court of California for the County of Los Angeles.

Dean Omar Branham Shirley, LLP, is a nationally recognized trial firm that handles cases across the country for individuals who have suffered catastrophic injuries or have died as a result of the irresponsible conduct of others. For more information, visit www.dobslegal.com.

More News From Dean Omar Branham Shirley

Back to Newsroom

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Johnson & Johnson (NYSE: JNJ) is expanding the U.S. roll-out of its latest advancement in presbyopia-correcting intraocular lenses (PC-IOLs). TECNIS PureSee IOL is an extended depth of focus (EDOF) lens designed to support visual clarity and quality for patients undergoing cataract surgery.3

"Patients today want vision solutions that support how they live their lives every day. TECNIS PureSee IOL builds on the trusted TECNIS platform to help meet those expectations while giving surgeons greater flexibility to personalize care."

Share Benefits of TECNIS PureSee IOL:

Range of vision: Excellent distance and intermediate vision with some near vision3* Low level of bothersome visual symptoms: 97% of patients reported no very bothersome visual disturbances3 Vibrant vision: Excellent vision, day and night3 “With the full U.S. availability of TECNIS PureSee IOL, we are expanding access to an important extended depth of focus option that reflects our commitment to innovation, visual quality, and patient satisfaction,”3 said Erin Powers, President, Surgical Vision, North America, Johnson & Johnson. “Patients today want vision solutions that support how they live their lives every day. TECNIS PureSee IOL builds on the trusted TECNIS platform to help meet those expectations while giving surgeons greater flexibility to personalize care.”

The expanded U.S. availability of TECNIS PureSee IOL comes during Cataract Awareness Month, a time dedicated to raising awareness about this common and preventable cause of vision loss. Cataract surgery is one of the most common and safe procedures in the U.S., with a success rate of nearly 98%.6 In a single procedure, TECNIS PureSee IOL addresses both cataract-related vision loss and the effects of presbyopia,3 which occurs when your eyes gradually lose the ability to see objects clearly up close.7 Nearly everyone will get presbyopia by the age of 50.8

TECNIS PureSee IOL is the first and only U.S. FDA‑approved extended depth of focus (EDOF) IOL with no warning on loss of contrast sensitivity.3** Contrast sensitivity refers to a patient’s ability to distinguish an object from its background, an important part of visual quality, especially in low‑light or foggy conditions. Aspheric monofocal IOLs are widely considered the benchmark for preserving contrast sensitivity. By maintaining contrast sensitivity comparable to an aspheric monofocal IOL, TECNIS PureSee IOL helps patients experience the visual clarity and confidence they expect, while also benefiting from an extended range of vision.3

“I was an investigator with the TECNIS PureSee IOL, so I have firsthand experience with this lens, and I’m excited to have this option in my practice for patients,” said Daniel Chang, MD, Cataract and Refractive Surgeon, Empire Eye & Laser Center.^ “This is the first presbyopia-correcting lens I’ve seen that has similar, if not in some cases even fewer, night vision symptoms than a monofocal lens.3 This is a very exciting time for the TECNIS platform. I think TECNIS PureSee IOL is going to be a landmark advancement.”

New patient lifestyle quiz

To further support patient education during Cataract Awareness Month, Johnson & Johnson is encouraging individuals to take a new patient lifestyle quiz designed to help them reflect on their daily activities, vision needs, and goals ahead of cataract surgery. Patients can use the quiz as a starting point for informed conversations with their eye care professional about which TECNIS IOL, including the TECNIS PureSee IOL, may be right for them.

For more patient information and tools please visit www.clearvisionforyou.com. Visit us at jnjvisionpro.com/en-us/ and follow Johnson & Johnson | Vision on LinkedIn.

INDICATIONS and IMPORTANT SAFETY INFORMATION for TECNIS PureSee™ IOL and TECNIS PureSee™ Toric II IOLs with TECNIS SIMPLICITY™ Delivery System

Rx Only

INDICATIONS FOR USE

The TECNIS SIMPLICITY™ Delivery System is used to fold and assist in inserting the TECNIS PureSee™ IOL, which is indicated for primary implantation for the visual correction of aphakia in adult patients with less than 1 diopter of pre-existing corneal astigmatism in whom a cataractous lens has been removed. The lens mitigates the effects of presbyopia by providing an extended depth of focus. Compared to an aspheric monofocal IOL, the TECNIS PureSee™ IOL provides improved intermediate visual acuity, while maintaining comparable distance visual acuity. The lens is intended for capsular bag placement only.

The TECNIS SIMPLICITY™ Delivery System is used to fold and assist in inserting the TECNIS PureSee™ Toric II IOLs, which are indicated for primary implantation for the visual correction of aphakia and for reduction of refractive astigmatism in adult patients with greater than or equal to 1 diopter of preoperative corneal astigmatism in whom a cataractous lens has been removed. The lenses mitigate the effects of presbyopia by providing an extended depth of focus. Compared to an aspheric monofocal IOL, the TECNIS PureSee™ Toric II IOLs provide improved intermediate visual acuity, while maintaining comparable distance visual acuity. The lenses are intended for capsular bag placement only.

WARNINGS

Physicians should weigh the potential benefit/risk ratio of IOL implantation in patients with any of the conditions listed below, as intraocular lenses may exacerbate an existing condition or may pose an unreasonable risk to the eyesight of patients. The following conditions are not specific to the design of the IOL and are attributed to cataract surgery and/or IOL implantation in general: Recurrent severe anterior or posterior segment inflammation of unknown etiology Posterior segment diseases of which monitoring or treatment ability may be limited by an intraocular lens Surgical difficulties at the time of cataract extraction and/or intraocular lens implantation that might increase the potential for complications (e.g., persistent bleeding, significant iris damage, uncontrolled positive pressure, or significant vitreous prolapse or loss) Compromised posterior capsule or zonules due to previous trauma or developmental defect in which appropriate support of the IOL is not possible Risk of damage to the endothelium during implantation Suspected microbial infection Congenital bilateral cataracts Previous history of, or a predisposition to, retinal detachment Potentially good vision in only one eye Medically uncontrollable glaucoma Corneal endothelial dystrophy Proliferative diabetic retinopathy Rotation of the toric lens away from its intended axis can reduce its astigmatic correction. Misalignment greater than 30° may increase postoperative refractive cylinder. If necessary, lens repositioning should occur as early as possible prior to lens encapsulation. Do not attempt to disassemble, modify or alter the delivery system or any of its components, as this can significantly affect the function and/or structural integrity of the design. Do not use if the cartridge of the delivery system is cracked or split prior to implantation. Do not implant the lens if the rod tip does not advance the lens or if it is jammed in the delivery system. Do not stop, reverse or advance the plunger too slowly (for example more than 1 second) during initial lens advancement. Doing so may result in improper folding of the lens. Do not advance the lens from the Holding Position prior to fully hydrating the system. A minimum of 1 minute at the Holding Position is required to fully hydrate the system to prevent sticking and a potential scratch or crack to the lens. Do not advance the lens from the Holding Position until ready for implantation. Interruptions during delivery may result in the lens being scratched or cracked or stuck in the cartridge. Discard the device if the lens has been advanced past the Holding Position but not delivered within 60 seconds. The lens and delivery system should be discarded if the lens has been folded within the cartridge for more than 10 minutes. Not doing so may result in the lens being stuck in the cartridge. Johnson & Johnson Surgical Vision, Inc., single-use medical devices are labeled with instructions for use and handling to minimize exposure to conditions which may compromise the product, patient, or the user. When used according to the directions for use, the delivery system minimizes the risk of infection and/or inflammation associated with contamination. The reuse/resterilization/reprocessing of Johnson & Johnson Surgical Vision, Inc. single-use medical devices may result in physical damage to the medical device, failure of the medical device to perform as intended, and patient contamination, transmission of infection, and lack of product sterility. PRECAUTIONS

Prior to surgery, the surgeon must inform prospective patients of the possible risks and benefits associated with the use of this device and provide a copy of the patient information brochure to the patient. Autorefractors may not provide optimal postoperative refraction of patients with the IOL. Manual refraction with maximum plus technique is strongly recommended. This is a single-use device. Do not resterilize the lens or the delivery system. Most sterilizers are not equipped to sterilize the soft acrylic material of the IOL and the preloaded inserter material without producing undesirable side effects. Do not store the device in direct sunlight or at a temperature under 41°F (5°C) or over 95°F (35°C). Do not autoclave the delivery system. The contents are sterile unless the package is opened or damaged. Do not use if the delivery system has been dropped or if any part was inadvertently struck while outside the shipping box. The sterility of the delivery system and/or the lens may have been compromised. The recommended temperature for implanting the lens is at least 63°F (17°C). Do not advance the lens unless ready for lens implantation. Do not leave the lens in a folded position more than 10 minutes. When the delivery system is used improperly, the lens may not be delivered properly (i.e., haptics may be broken). Please refer to the specific Directions For Use section provided. The use of balanced salt solution or ophthalmic viscosurgical devices (OVDs) is required when using the delivery system. For optimal performance when using OVD, use the HEALON™ family of OVDs. The use of balanced salt solution with additives has not been studied for this product. The lens should be placed entirely in the capsular bag. The lens should not be placed in the ciliary sulcus. Carefully remove all viscoelastic and do not over-inflate the capsular bag at the end of the case. Residual viscoelastic and/or over-inflation of the capsular bag may allow the lens to rotate, causing misalignment of the toric lens with the intended axis of placement. Do not reuse. Recent contact lens usage may affect the patient’s refraction; therefore, in contact lens wearers, surgeons should establish corneal stability without contact lenses prior to determining IOL power. The IOL is designed for optimum visual performance when emmetropia is targeted. The TECNIS™ Toric IOL Calculator includes a feature that accounts for posterior corneal astigmatism (PCA). The PCA is based on an algorithm that combines published literature (Koch, et al., 2012) and a retrospective analysis of data from a TECNIS™ Toric multi-center clinical study. The PCA algorithm for the selection of appropriate cylinder power and axis of implantation was not assessed in the prospective TECNIS™ Toric IOL U.S. IDE study and may yield results different from those in the TECNIS PureSee™ Toric II IOL labeling. Please refer to the TECNIS™ Toric IOL Calculator user manual for more information. The use of methods other than the TECNIS™ Toric IOL Calculator to select cylinder power and appropriate axis of implantation were not assessed in the TECNIS™ Toric IOL U.S. IDE study and may not yield similar results. Accurate keratometry and biometry, in addition to the use of the TECNIS™ Toric IOL Calculator (www.TecnisToricCalc.com) are recommended to achieve optimal visual outcomes for the TECNIS PureSee™ Toric II IOLs. All preoperative surgical parameters are important when choosing a toric lens for implantation, including preoperative keratometric cylinder (magnitude and axis), incision location, the surgeon’s estimated surgically induced astigmatism (SIA) and biometry. Variability in any of the preoperative measurements can influence patient outcomes and the effectiveness of treating eyes with lower amounts of preoperative corneal astigmatism. The effectiveness of the toric lens in reducing postoperative residual astigmatism in patients with preoperative corneal astigmatism less than 1.0 diopter has not been demonstrated. All corneal incisions were placed temporally in the TECNIS™ Toric IOL U.S. IDE study. If the surgeon chooses to place the incision at a different location, outcomes may be different from those obtained for the TECNIS™ Toric IOL. Note that the TECNIS™ Toric IOL Calculator incorporates the surgeon’s estimated SIA and incision location when providing IOL options. Children under the age of 2 years are not suitable candidates for intraocular lenses. The safety and effectiveness of the TECNIS PureSee™ IOLs have not been substantiated in pregnant women, patients under the age of 22 or those with preexisting ocular conditions and intraoperative complications, including those specified in the Warnings and Precautions. Careful preoperative evaluation and sound clinical judgment should be used by the surgeon to decide the benefit/risk ratio before implanting a lens in a patient with one or more of these conditions. Before Surgery

Pupil abnormalities Prior corneal refractive or intraocular surgery Choroidal hemorrhage Chronic severe uveitis Concomitant severe eye disease Extremely shallow anterior chamber Medically uncontrolled glaucoma Microphthalmos Non-age-related cataract Proliferative diabetic retinopathy (severe) Severe corneal dystrophy Severe optic nerve atrophy Irregular corneal astigmatism Amblyopia Macular disease During Surgery

Excessive vitreous loss Non-circular capsulotomy/capsulorhexis The presence of radial tears known or suspected at the time of surgery Situations in which the integrity of the circular capsulotomy/ capsulorhexis cannot be confirmed by direct visualization Cataract extraction by techniques other than phacoemulsification or liquefaction Capsular rupture Significant anterior chamber hyphema Uncontrollable positive intraocular pressure Zonular damage 24. Potential complications generally associated with cataract surgery include, but are not limited to: endophthalmitis/intraocular infection, hypopyon, hyphema, IOL dislocation, persistent cystoid macular edema, pupillary block, retinal detachment/tear, persistent corneal stromal edema, persistent uveitis, persistent raised intraocular pressure (IOP) requiring treatment (e.g., AC tap), retained lens material, or toxic anterior segment syndrome, or any other adverse event that leads to permanent visual impairment or requires surgical or medical intervention to prevent permanent visual impairment.

ATTENTION: Reference the Directions for Use for a complete listing of Indications and Important Safety Information

About Vision at Johnson & Johnson

Johnson & Johnson has a deep legacy in developing transformational new products that improve the health of patients’ eyes. We have a bold ambition: Vision Made Possible – improving sight for more than 40 million people each year. Through cutting-edge innovation, expertise in material and optical science, and advanced technologies, we are revolutionizing the way people see and experience the world. Visit us at clearvisionforyou.com, follow @JNJVision on X, Johnson & Johnson | Vision on LinkedIn, and @JNJVision on Facebook.

About Johnson & Johnson

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more about our MedTech sector’s global scale and deep expertise in cardiovascular, orthopaedics, surgery and vision solutions at https://www.jnjmedtech.com/en-US/. Follow us at @JNJMedTech on LinkedIn.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to TECNIS PureSee IOL. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

©Johnson & Johnson and its affiliates 2026. All rights reserved.

Footnotes:

*TECNIS PureSee IOL achieved a 1.5-line difference in mean monocular distance-corrected near VA at 6 months compared to TECNIS 1-Piece.

**In clinical evaluation, TECNIS PureSee IOL demonstrated contrast sensitivity comparable to an aspheric monofocal intraocular lens, with no clinically meaningful differences (≤0.3 log units) versus aspheric monofocal controls across pupil sizes, while maintaining distance visual acuity and low levels of visual symptoms.

^Daniel Chang, MD, is a paid consultant of Johnson & Johnson

World Health Organization (WHO), 2022. Blindness and vision impairment. Available at: https://www.who.int/news-room/fact-sheets/detail/blindness-and-visual-impairment. Centers for Disease Control and Prevention (2024) Cataract Data. Available from: https://www.cdc.gov/vision-health/about-eye-disorders. TECNIS PureSee™ IOL, Model DEN00V, DFU US, Z312075E rev B. Launch to Date Implants. Data on File. DOF2023CT4043 Clinical Investigation. Patient Satisfaction Outcomes. July 18, 2023. Harvard Medical School (2020) Considering Cataract Surgery? What You Should Know. Harvard Health Publishing REF2022OTH4464. American Academy of Ophthalmology. What Is Presbyopia? https://www.aao.org/eye-health/diseases/what-is-presbyopia Vision Loss Expert Group of the Global Burden of Disease Study and GBD 2019 Blindness and Vision Impairment Collaborators, 2024. Global estimates on the number of people blind or visually impaired by uncorrected refractive error: a meta-analysis from 2000 to 2020. Eye, 38, pp.2083–2101. https://doi.org/10.1038/s41433-024-03106-0 2026PP10682

Johnson & Johnson JNJ is making a stronger case for expanding Imaavy into a rare autoimmune blood disorder after posting detailed Phase 2/3 data from its ENERGY study.

The company said the 115 patient trial supports a potential label expansion for Imaavy in warm autoimmune hemolytic anemia, or wAIHA, a rare disease tied to anemia. J&J's application is already under FDA priority review after earlier data showed more Imaavy patients achieved a lasting hemoglobin response than those on placebo.

The detailed results showed patients receiving Imaavy were roughly 3 times more likely than placebo patients to achieve durable hemoglobin levels. J&J also said the drug's safety profile was consistent with its known tolerability in myasthenia gravis, where Imaavy is already approved.

the story matters because wAIHA currently has no FDA approved therapies, giving J&J a possible first mover opportunity in a rare disease market. The next thing to watch is the FDA's decision on the label expansion.

The pharmaceutical industry continues to address any and every known ailment. Cancer, however, remains the business's biggest market. Precedence Research suggests the global oncology market is currently worth nearly $280 billion per year, en route to $700 billion by 2035.

And that bodes well for drugmaker Johnson & Johnson (JNJ +0.96%). After years of lethargic performance, the company's been on a buying spree of late, acquiring Halda Therapeutics and Ambrx Biopharma specifically because of the developmental work these companies were doing on the cancer front.

Today's Change

(

0.96

%) $

2.30

Current Price

$

240.63

Fast-forward to today. J&J's most recent purchase -- while relatively small at $1 billion -- advances the company's goal of producing $50 billion worth of annual oncology revenue by 2030. (For perspective, Johnson & Johnson did $94.2 billion worth of business last year.)

Here's what investors need to know about the deal.

A strategic, complementary acquisition The latest target in Johnson & Johnson's streak of acquisitions is mostly unknown Firefly Bio. What's it getting for its $1 billion in cash? Firefly's proprietary Firelink degrader antibody conjugate (DAC) platform, mostly, which specifically takes aim at KRAS (Kirsten rat sarcoma viral oncogene homolog) tumors.

That won't mean much to most people; here's the explanation in simpler language:

A KRAS-driven tumor is a cancer caused by a mutation in the KRAS gene. This mutation errantly tells the affected cell to continue growing and dividing even when it shouldn't. It's not uncommon in cases of colorectal and non-small cell lung cancer, and it's particularly common with pancreatic cancer. It's a problem in all cases, however, in that it's long been considered "undruggable," meaning there's historically been little that can be done about these mutations.

Image source: Getty Images.

Medical science's capabilities have finally caught up with many of its diagnostic capabilities, though, at least on one front. The industry can now induce a human body to natural fight cancers it didn't know -- or know how -- to fight before. One of the approaches of inducing such a response is with antibody drug conjugates, which essentially deliver self-destruct instructions to diseased cells (identifying them by unique proteins on their surface) without harming healthy cells.

Enter FireFly Bio, or specifically, the Firelink platform, which creates a category of antibody drug conjugates (or ADCs) called "degraders." These are essentially ADC boosters that destroy a unique gatekeeping protein on the surface of a diseased cell without ever even giving it a chance to prevent or slow an antibody from effectively penetrating it.

A chance for marketable improvement It's still a fairly new science, but one that's more than proven. The next stage of the DAC era is simply continuing to refine the science so it can be utilized with more cancer-fighting antibody drug conjugates. And Johnson & Johnson's got plenty of those. That's the chief reason it wanted Ambrx back in 2024, although it's done a fair amount of internal ADC development lately as well.

It matters mostly because Precedence Research also thinks the worldwide antibody drug conjugate market alone could be worth $21 billion by 2030, and $35 billion by 2035. The more effective J&J's cancer-fighting ADC portfolio is, the bigger its piece of that pie gets, and the closer it gets to its cancer treatment revenue target of $50 billion.

Disney shot back at the Federal Communications Commission on Thursday as part of an early renewal process for broadcast licenses for eight of the company's stations.

Disney said in filings it was submitting the applications "under protest in response to an unlawful, arbitrary, and unconstitutional order" from the FCC.

In late April, the FCC said it was launching an early review of the Disney-owned ABC stations years ahead of schedule following concerns around the company's diversity, equity and inclusion efforts. The licenses of the eight stations were originally up for renewal between 2028 and 2031.

Last year the FCC, the federal entity that regulates the media and telecommunications industry, began an investigation into the DEI efforts of Disney and other media companies.

The agency said it began investigating Disney last March for possible violations of the Communications Act of 1934 and the FCC's rules regarding its prohibition on unlawful discrimination.

In April, the FCC said it had determined further action was needed. Disney had until Thursday to file the renewals.

In a Friday interview on CNBC's "Squawk on the Street," FCC Chair Brendan Carr said the agency's focus remains on its investigations into Disney's DEI practices and that pulling up the license renewal deadline is not related to First Amendment matters.

"I understand Disney wants to make this about a lot of other things, and their PR machine has been in high gear, but we've been very clear about what this is: concerns about invidious forms of DEI discrimination," Carr told CNBC.

He added that the next step, as soon as Friday, will be for the FCC to issue a public notice and begin a cycle where the public can petition to deny the renewal of Disney's licenses, opening the door for Disney to file an opposition.

"We have been signaling for a long time that we want Disney to take seriously our investigation, and it was only after we felt like — again, we provided them notice now that we thought their responses were disingenuous, that they were incomplete, that they were frankly nonresponsive to a number of questions — that we thought it was important to take this next step in our investigation to make sure that they're being fully responsive to our proceedings," Carr said.

When asked if he thinks there is a possibility that the FCC may actually pull ABC's licenses, Carr said the agency will "follow the facts and the law wherever they go."

The FCC's early review came shortly after ABC faced renewed political backlash from President Donald Trump following comments made by comedian Jimmy Kimmel during his late night TV show that airs on the broadcast network.

The timing raised eyebrows from critics of the Trump administration — as well as from a sitting FCC commissioner — who said the scrutiny was politically motivated.

In Thursday's filing, Disney said it objected to the process and added that the FCC hadn't called for an early renewal in more than five decades.

"The order has no legitimate purpose," Disney said in the filing. "There is no information that the application will reveal that the Commission could not obtain through other means. The order is inconsistent with a legitimate exercise of investigative authority and is plainly incompatible with the First Amendment."

Disney has accused Donald Trump's media regulator of an "unlawful" attempt to suppress free speech after it was forced to apply for early licence reviews for its eight ABC TV stations.

The order from the Federal Communications Commission (FCC), which is chaired by Trump-appointee Brendan Carr, came amid growing pressure on Disney to sack talk show host Jimmy Kimmel for a joke about Melania Trump.

Disney filed applications for the early licence reviews on Thursday, but did so "under protest", calling it "unlawful, arbitrary, and unconstitutional".

It also said it violates its First Amendment free speech rights.

"This effort to suppress speech under the guise of bureaucratic process must not prevail," the company added.

Image: US President Donald Trump and First Lady Melania Trump have both called for Kimmel to be sacked. Pic: Reuters The FCC claims the reviews, ​which were due to start in October 2028, had been brought forward as part of a year-long discrimination investigation.

Carr told reporters last month that the timing was "unrelated" to the Kimmel news. He said: "I understand that anything that we do is is now framed as 'in the wake of' in the headlines, and I understand that's how it is, but we've got to make these decisions based on where we are in the investigations and what is best for next steps in that enforcement proceeding in the headlines can be what the headlines are, but that was the basis for our decision."

More from World

SpaceX IPO latest: Elon Musk becomes world's first trillionaire as opening shares soar

Iran war latest: 'Our sword will always hang over Strait of Hormuz', Tehran warns - as US reveals details of deal terms

'There's Trump's world and then there's the real world'

Last month Kimmel had joked on his show, Jimmy Kimmel Live!, that Mrs Trump had a "glow like an expectant widow".

Days later a gunman opened fire in Washington at the White House Correspondents Association (WHCA) dinner, which was attended by the first lady and the president.

The pair have demanded the sacking of Kimmel, who was briefly taken off-air last year over comments about the killing of Trump supporter Charlie Kirk.

Read more from Sky News:
Students 'misled' over uni loans
Fertility rate falls to record low

Mr Trump wrote: "I appreciate that so many people are incensed by Kimmel's despicable call to violence, and normally would not be responsive to anything that he said, but this is something far beyond the pale."

In a post on X, the first lady said Kimmel's "hateful and violent rhetoric" intends to divide the US.

"His monologue about my family isn't comedy - his words are corrosive and deepen the political sickness within America.

"Enough is enough. It is time for ABC to take a stand. How many times will ABC's leadership enable Kimmel's atrocious behaviour at the expense of our community," she wrote.

May was a busy month for Walt Disney (DIS 0.30%). There were major theme park additions opening ahead of the pivotal summer travel season. The studios put out a pair of high-profile theatrical releases. It was also Josh D'Amaro's first earnings call as CEO.

June might not carry the same amount of fireworks, but there is still plenty on the plate for the widely followed entertainment company. With Disney stock flat through May and down 10% year to date, it might not take much to get the stock moving in the right direction. You want someone to walk you through some key dates that Disney shareholders will be watching in the coming weeks? You've got a friend in me.

Image source: Disney.

The NBA Finals tip off next Wednesday night, and Disney's ABC will run the best-of-seven basketball championship series. ABC got lucky when the New York Knicks became the first team to qualify. The Knicks haven't played in the NBA Finals since 1999. Big-market teams tend to draw well for championship contests, and the Knicks in a 27-year drought is more than a little interesting.

The Knicks will face off against one of two smaller-market teams. The San Antonio Spurs and Oklahoma City Thunder will play on Saturday night to see which one moves on to the NBA Finals. It should generate strong ratings for Disney's network business.

The Stanley Cup Final also starts next week, exclusively on ABC. Sports remain a major part of Disney, with its majority stake in ESPN. It will be game on in June.

Today's Change

(

-0.30

%) $

-0.30

Current Price

$

100.04

June 19 The toys are back in town. Toy Story 5 hits theaters in three weeks. The franchise that kicked off Pixar's run of theatrical full-length animated features continues to draw crowds. 2019's Toy Story 4 rang up ticket sales of $434 million in the U.S. and topped $1 billion worldwide.

Disney enters this weekend without any of the year's three highest-grossing movies. That should change with Toy Story 5. A strong box office naturally means even bigger opportunities for Disney in merchandising, theme park experiences, and, eventually, the now-profitable streaming market.

June 24 Unlike this year, Disney locked up all three of the world's box-office winners outside China last year. One of those three films was Avatar: Fire and Ash. The third installment in James Cameron's high-tech franchise grossed almost $1.5 billion in theaters last year.

That's a lot, but it still fell short of the first two releases, which continue to rank among the three highest-grossing films of all time. Six months after it started its theatrical run, Avatar: Fire and Ash will begin streaming on Disney+. It could expand the franchise's audience. With a fourth installment currently slated to be released in three years, that can only help to bring folks back to the multiplex.

Rick Munarriz has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool has a disclosure policy.

Walt Disney (DIS - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this entertainment company have returned +1.5% over the past month versus the Zacks S&P 500 composite's +6.3% change. The Zacks Media Conglomerates industry, to which Disney belongs, has gained 0.6% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Disney is expected to post earnings of $1.89 per share for the current quarter, representing a year-over-year change of +17.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +2.8%.

For the current fiscal year, the consensus earnings estimate of $6.85 points to a change of +15.5% from the prior year. Over the last 30 days, this estimate has changed +3.6%.

For the next fiscal year, the consensus earnings estimate of $7.45 indicates a change of +8.7% from what Disney is expected to report a year ago. Over the past month, the estimate has changed +2.9%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Disney.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Disney, the consensus sales estimate of $25.47 billion for the current quarter points to a year-over-year change of +7.7%. The $101.8 billion and $106.48 billion estimates for the current and next fiscal years indicate changes of +7.8% and +4.6%, respectively.

Last Reported Results and Surprise HistoryDisney reported revenues of $25.17 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $1.57 for the same period compares with $1.45 a year ago.

Compared to the Zacks Consensus Estimate of $25.06 billion, the reported revenues represent a surprise of +0.41%. The EPS surprise was +5.37%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Disney is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Disney. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Broadcom (AVGO) delivered Q2 results and guidance above Wall Street expectations, yet shares dropped 12% in early trading. Disney has begun selling Super Bowl LXI ad slots for $8 million per 30 seconds, below its initial target, despite expectations that the holiday-adjacent game would boost demand.

WASHINGTON, D.C. & OVERLAND PARK, KS, June 04, 2026 (GLOBE NEWSWIRE) -- The National Content & Technology Cooperative (NCTC) and America’s Communications Association (ACA Connects) will host their 21st annual Independent Show themed “Imagination Meets Innovation” from July 26-29, 2026, at Disney’s Yacht & Beach Club Resorts in Lake Buena Vista, FL.

Reflecting NCTC’s commitment to delivering practical value and resources for its members, the event will focus on turning industry innovation into immediate operational results.

"This year’s TIS is designed to make scaling networks, launching advanced services and supporting customers easier than ever for independent ISPs," said Lou Borrelli, CEO of NCTC. "Every session, workshop and keynote will equip members with the strategies and turnkey solutions needed to expand and compete at enterprise scale as more broadband choices and smarter connectivity reshape the market. Attendees will leave Florida with a practical framework for enhancing the subscriber experience, whether through profitable mobile bundles, smart AI tools or seamless network convergence."

Building on NCTC's growing portfolio of MVNO, programming, and network infrastructure solutions, TIS will introduce expanded tactical workshops focused on mobile device strategies, bundling frameworks, and network optimization equipping members with the tools to converge services and deepen long-term subscriber retention. These sessions will directly address the industry's evolving regulatory landscape while guiding members toward seamless customer experiences through the convergence of fiber, Wi-Fi, mobile, and video.

Attendees will also learn about NCTC’s latest advancements in AI, broadband, streaming and other initiatives shaping the future of connectivity.

“On every front, we’re empowering independent operators to innovate, prepare for the future, and invest in their networks,” said Grant Spellmeyer, President and CEO of America’s Communications Association. “ACA Connects looks forward to leading conversations at The Independent Show with the most influential leaders driving broadband, video, and mobile policy, including FCC Commissioner Olivia Trusty. Attendees will not just leave with a more strategic playbook to navigate the regulatory world; they will gain the confidence they need to run their businesses and win.”

ACA Connects will deliver insider analysis for TIS attendees, breaking down key policy debates and helping the industry navigate upcoming regulatory and deregulatory changes in Washington, D.C.

Attendees can expect insights from expert-led panels and interactive breakout sessions on topics such as:

Mobile bundling strategies to strengthen broadband value and customer retentionAI deployment, data readiness and governance for B2B applicationsThe evolving video ecosystem and driving customer stickiness with NCTC Broadband TVNetwork infrastructure optimization and convergence across fiber, Wi-Fi and mobileRegulatory shifts, including permitting reform, AI oversight, universal service reform and changes to the video marketplace. Keynotes and general sessions on the show’s agenda include:

Noelle Russell, Founder & Chief AI Officer of the AI Leadership Institute – In the show’s opening keynote, Russell will share practical, real-world insights on how independents can use AI to strengthen operations, serve customers better and stay competitive without losing what makes them unique.Olivia Trusty, FCC Commissioner – Shortly after the keynote on Monday, Trusty will join ACA Connects President and CEO Grant Spellmeyer for a fireside chat on empowering independent providers to expand broadband access, drive investment and strengthen rural communities.David and Jonah Stillman, Generational Experts – In Tuesday’s keynote, a father-and-son duo representing Gen X and Gen Z will share research on how different age groups influence technology adoption, culture and team dynamics.Jimmy Zasowski, President, Platform Distribution, Disney Entertainment and ESPN – Directly following Tuesday’s keynotes, Zasowski will share new insights in an exclusive fireside chat with NCTC's CEO. Pre-Show Event (July 26):

The Marketing Innovators Group (NCTC members only) offers a hands-on AI workshop for marketers to sharpen competitive strategies, user groups to learn from peers and a welcome party at EPCOT Pavilion, where guests can experience all four Disney parks in one night.

Mark Your Calendars for Next Year:

TIS 2027 is scheduled for August 1–4, 2027, in Nashville, Tennessee. About National Content & Technology Cooperative  
The National Content & Technology Cooperative (NCTC) is a Kansas-based, not-for-profit corporation comprised of more than 650 independent broadband and cable operators serving one-third of the connected households in all 50 United States and territories. The NCTC negotiates content, connectivity, and technology solutions for its member companies that create operational efficiencies, new products, and revenue streams for sustainable growth. For more information, visit: https://www.nctconline.org/

About America’s Communications Association
America’s Communications Association (ACA Connects) is a trade organization representing about 500 small and medium-sized, independent companies that provide high-speed internet, video, phone, and mobile services covering 29.5 million households. ACA Connects members operate in every state, providing advanced communications to connect homes, companies, main street, schools, hospitals and more. America’s economic prosperity in smaller communities and rural areas depends on the growth and success of independent operators, who believe a connected nation is a prosperous nation. For more information, visit www.acaconnects.org.  

For more information, contact:

For NCTC:
Robert Brownlie
Bob Gold & Associates
310-320-2010
[email protected]

For ACA Connects:
Olivia Shields
ACA Connects
571-329-1259
[email protected]

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0e068ac8-2afe-4a84-ad0e-5124be255c15

https://www.globenewswire.com/NewsRoom/AttachmentNg/d31daf67-8d51-45ad-9dde-2f30666c5378

https://www.globenewswire.com/NewsRoom/AttachmentNg/f734a863-928e-455a-b13c-a6ab696eac62

A month has gone by since the last earnings report for Walt Disney (DIS - Free Report) . Shares have lost about 8.6% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Disney due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for The Walt Disney Company before we dive into how investors and analysts have reacted as of late.

Disney Q2 Earnings Surpass Estimates, Revenues Increase Y/YThe Walt Disney Company reported second-quarter fiscal 2026 adjusted earnings of $1.57 per share, up 8% year over year, beating the Zacks Consensus Estimate by 5.4%.

Revenues of $25.17 billion rose 7% year over year, topping the consensus mark by 0.55%.

Net income was $2.25 billion, or $1.27 per share, down from $3.28 billion, or $1.81 per share a year earlier, representing a 30% decline in reported EPS. The GAAP decline reflected higher income tax expense versus a one-time tax benefit in the prior-year period related to the resolution of a prior-year tax matter.

Entertainment Segment ResultsEntertainment revenues (46.5% of total revenues) increased 10% year over year to $11.72 billion. Subscription Video on Demand (SVOD) revenues increased 13% year over year to $5.49 billion. Content Sales revenues increased 8% year over year to $1.73 billion, reflecting higher theatrical distribution from the ongoing performance of Avatar: Fire and Ash and Zootopia 2 and the release of Hoppers compared with the ongoing performance of Mufasa: The Lion King and Moana 2 and the release of Captain America: Brave New World in the prior-year quarter.

Total segment’s operating income rose 4% year over year to $4.60 billion. The entertainment segment's operating income grew 6% to $1.34 billion at an operating margin of 11.4%. SVOD operating income surged 88% to $582 million, while other entertainment businesses generated $754 million, down 20% year over year.

Subscription and affiliate fees increased 14% year over year to $7.8 billion, with the Fubo transaction contributing approximately 500 basis points.

Advertising revenues grew 5% year over year to $1.67 billion, with the Fubo transaction contributing more than 100 basis points. Content sales revenues rose 8% year over year to $1.73 billion. Higher costs and expenses reflect a 400-basis-point increase from the Fubo transaction, alongside higher programming production, technology and distribution costs.

Streaming Performance and StrategySVOD revenues grew 13% year over year to $5.49 billion, with subscription fees climbing 16% to $4.71 billion and advertising revenues increasing 12% to $821 million. SVOD reported an operating margin of 10.6%.

Disney+ and Hulu reported SVOD operating income of $582 million, up 88% from $310 million in the prior-year quarter. Zootopia 2 generated $1.9 billion in global box office, and the Zootopia franchise surpassed 1 billion hours streamed on the service. DIS launched Verts on Disney+ in March to improve content discoverability and drive higher daily interaction. Disney+ and Hulu are on track to merge into a unified app experience later in the fiscal year, while Hulu has replaced the Star brand in international markets.

Sports Segment PerformanceSports revenues (18.3% of total revenues) rose 2% year over year to $4.61 billion. The Sports segment's operating income was $652 million, down 5% year over year. The decline reflected higher programming and production costs driven by contractual rate increases and the timing of rights cost recognition under renewed contracts, specifically a shift of college sports rights costs into the current quarter and NBA rights costs shifting to the third quarter. This was compounded by higher sales and marketing costs.

Subscription and affiliate fees rose 6% year over year to $3.25 billion, benefiting from higher effective rates and the NFL transaction, partially offset by fewer linear subscribers. Advertising revenues declined 2% year over year to $1.13 billion due to fewer impressions, the absence of UFC pay-per-view revenues and fewer NBA games relative to the prior-year quarter.

Despite competitive pressure from the Super Bowl and the Olympics, ESPN garnered the largest share of linear sports consumption among total viewers in the second quarter. ESPN Men's Tournament Challenge recorded 27 million completed brackets, an all-time high and up 7% over 2025. Revenue generated by ESPN's digital subscribers more than offset secular declines in the linear subscriber universe.

Experiences Segment Drives GrowthExperiences revenues (37.7% of total revenues) increased 7% year over year to $9.49 billion. Domestic Parks and Experiences revenues were $6.92 billion, up 6% year over year, while international revenues increased 11% year over year to $1.6 billion. Consumer Products revenues rose 3% year over year to $974 million.

Experiences operating income was $2.62 billion, up 5% year over year. Domestic Parks and Experiences operating income was $1.91 billion, up 5% year over year, driven by higher guest spending and an increase in passenger cruise days reflecting the launches of the Disney Destiny in November 2025 and the Disney Adventure in March 2026. Per capita spending at domestic parks rose 5% year over year, driven by growth in admissions, food and beverage and merchandise. Domestic parks attendance declined 1% year over year, reflecting continued softness in international visitation, though DIS noted it is beginning to lap prior-year attendance headwinds and expects year-over-year improvement in the third quarter.

International Parks and Experiences' operating income was $227 million, up 1% year over year. Consumer Products operating income increased 8% year over year to $479 million. Theme park admissions revenues grew 6% year over year to $3.09 billion, resorts and vacations revenues climbed 9% to $2.56 billion and parks and experiences merchandise, food and beverage revenues rose 5% to $2.20 billion. Pre-opening expenses for the Disney Adventure and World of Frozen weighed on Experiences operating income growth by roughly two percentage points.

Balance Sheet and Cash FlowAs of March 28, 2026, cash and cash equivalents totaled $5.68 billion, unchanged from $5.68 billion as of Dec. 27, 2025.

The current portion of borrowings declined to $8.89 billion from $10.82 billion sequentially, while long-term borrowings rose to $38.47 billion from $35.82 billion, reflecting a shift in debt maturity profile.

For the second quarter, cash provided by operations was $6.91 billion, up from $735 million in the prior quarter, and free cash flow was $4.94 billion compared with negative $2.28 billion in first-quarter of fiscal 2026.

DIS repurchased $3.47 billion of common stock in the second quarter.

Fiscal 2026 and 2027 OutlookFor the third quarter of fiscal 2026, DIS expects total segment operating income of approximately $5.3 billion. For fiscal 2026, DIS raised its share repurchase target to at least $8 billion from $7 billion and now expects adjusted EPS growth of approximately 12% excluding the 53rd week, or approximately 16% including it.

DIS targets an annual SVOD operating margin of at least 10% and Sports segment operating income growth of mid-single digits, though the NFL transaction is expected to be approximately 3 cents dilutive to fiscal 2026 adjusted EPS. For fiscal 2027, DIS continues to expect double-digit adjusted EPS growth.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.

VGM ScoresAt this time, Disney has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Disney has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Disney is executing a 'One Disney' strategy, integrating segments to drive synergistic profit and brand engagement. Q2 2026 results were strong: $25.17B revenue (+6.55% YoY) and $1.57 EPS, both beating expectations. Streaming achieved $582M in operating income in Q2, up 88% YoY, with Disney+ engagement and personalization initiatives highlighted.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© Gabriele Maltinti / Shutterstock.com

CalPERS reports an average annual retirement benefit of approximately $45,264. Many California public employees who spend a full career in the system and retire with 30 or more years of service receive benefits above that average. A $1.4 million portfolio generating a conservative 3.5% yield produces about $49,000 a year in income, slightly exceeding the published average benefit. At higher yield levels, the same portfolio can generate substantially more income than the average pension payment.

The Income Target and the Base Math The calculation is straightforward: divide the income target by the portfolio yield to determine the capital required. Generating $45,264 annually at a 3.5% yield requires roughly $1.29 million of invested assets. A $1.4 million portfolio therefore provides a modest cushion above the average CalPERS retirement benefit.

With the 10-year Treasury yielding about 4.45%, investors accepting a dividend yield below that level are generally trading current income for other potential advantages, including dividend growth, favorable tax treatment in some cases, and the possibility of long-term capital appreciation.

Conservative Tier: 3% to 4% Yield This is the broad dividend-growth lane. Vanguard High Dividend Yield ETF (NYSEARCA:VYM) sits here, with an expense ratio of 0.04% and a distribution yield in the low 3% range. At 3.5%, $1.4 million produces $49,000 a year. At 4%, the same capital produces $56,000.

The reward is diversification across hundreds of names, rising dividends most years, and a principal balance that has historically appreciated alongside the broader market. This tier is most likely to keep pace with the CalPERS 2% cost-of-living adjustment and then some.

Moderate Tier: 5% to 7% Yield Realty Income (NYSE:O | O Price Prediction) yields 5.3% on its $3.23 annualized dividend, having paid a 670th consecutive monthly dividend with shares at $61. Altria (NYSE:MO) yields 5.8% on a $4.20 annualized payout, with shares at $70 and 2026 EPS guidance of $5.56 to $5.72.

A blend of net-lease REITs, tobacco, and preferred-share funds lands the portfolio in the 6% range. At 6%, $1.4 million produces $84,000 a year, nearly doubling the CalPERS average on the same capital. Dividend growth slows in this tier but does not stop.

Aggressive Tier: 8% to 14% Yield NEOS S&P 500 High Income ETF (NASDAQ:SPYI) runs a covered-call strategy on the S&P 500 designed for high monthly income in a tax efficient manner with the potential for equity appreciation in rising markets, with an expense ratio of 0.68% and net assets near $6.9 billion. Its distribution yield typically sits in the low double digits. Main Street Capital pays a regular monthly dividend of $0.26 plus a $0.30 quarterly supplemental, for total annualized income near $4.32 per share at a price of $51.

At a blended 10% yield, $1.4 million produces $140,000 a year, roughly triple the CalPERS average. The catch is that covered-call funds cap upside in rising markets and many high-yield vehicles see principal drift lower over long stretches. The investor in this tier is closer to spending down an asset than living off its growth.

Why the Lowest Yield Often Wins CalPERS pensions carry a 2% annual COLA cap, and CPI hit 332.4 in April 2026. A dividend-growth portfolio compounding payouts at 6% to 8% annually doubles its income in roughly 9 to 12 years. A 12% yield with no growth stays flat in nominal terms and loses purchasing power every year inflation runs hot. Wes Moss made the same point on the Clark Howard Podcast: “dividends have grown at twice the rate on average of inflation”, which is the structural advantage the aggressive tier gives up for current cash.

What to Do With This Math Calculate actual annual spending, not gross salary. Most retirees need to replace 70% to 80% of pre-retirement income, so the real target may be smaller than the CalPERS average suggests. Compare the trailing 10-year total return of a 3% to 4% dividend-growth fund against a 10%-plus covered-call or BDC product. The compounding gap usually shows up after year seven. Model the tax impact in your bracket. REIT distributions, BDC dividends, and covered-call ETF payouts each have different tax treatment, and a high-tax state like California can swing the after-tax yield by more than a percentage point.

© Tinpixels / Getty Images

At the 24% federal bracket, a portfolio throwing off $40,000 in high-yield dividend income hands roughly $9,600 to the IRS every year when those shares sit in a taxable account treated as ordinary income. For investors in the gap years between retirement and RMD age 73, that drag compounds quietly until required minimum distributions force the math into the open.

The Closing Window Before RMDs Under SECURE 2.0, the RMD age sits at 73 for taxpayers born between 1951 and 1959 and steps up to 75 for those born in 1960 or later. The years between retiring and that first forced distribution are the cleanest window to convert traditional IRA assets into a Roth, harvest qualified dividends at the 0% long-term capital gains rate (available up to roughly $96,000 of taxable income for joint filers in 2026) and relocate the highest-yielding positions before ordinary-income withdrawals take over. Roth IRAs carry no RMD for the original owner, which is the entire point of the relocation.

The Tax Delta: Roth Versus Taxable at 24% Take a $500,000 high-yield position generating $40,000 in annual dividends. If those payouts were treated as ordinary income at the 24% bracket, the net drops to $30,400. Inside a Roth, it stays at $40,000. The annual delta is $9,600, and it repeats every year the position is held. Qualified dividends from the blue chips below get preferential LTCG treatment, so the realized gap is smaller than the ordinary-rate worst case, but it widens fast once household income climbs above the 0% LTCG threshold or if Congress lets current rates rise.

The Portfolio Five NYSE-listed dividend payers, ranked by current yield. The higher-yield names carry the strongest case for Roth placement during the gap-year window.

Altria (NYSE:MO | MO Price Prediction): current yield 6%, quarterly dividend $1.06. The largest absolute income stream in the group and the position where Roth shelter saves the most dollars per year. Verizon Communications (NYSE:VZ): current yield 6%, with 26+ consecutive years of annual dividend increases. Same logic as MO: large income, large tax footprint outside a Roth. AT&T (NYSE:T): current yield 4%, annualized dividend $1.11. Stable at the current rate for four-plus years after the 2022 reset. Procter & Gamble (NYSE:PG): current yield 3%, with 70+ consecutive years of increases. Lower starting yield, but compounded raises make the Roth shelter pay off across a 20-year horizon. Johnson & Johnson (NYSE:JNJ): current yield 2%, after a Q2 2026 raise to $1.34 per quarter and 64 consecutive years of hikes. The dividend growth builds the Roth case here, even with a modest starting yield. The Bracket Multiplier The 24% number is the middle of the band. Federal brackets for 2026 sit at 22%, 24%, 32%, and 37%. Apply each to the same $40,000 in dividends treated as ordinary income, and the annual Roth advantage scales linearly: a 22% household trims less than a 37% household to the IRS, but every bracket pays. The higher the bracket, the more urgent the asset-location decision becomes during the gap years, when conversion taxes are still cheap.

The Insight Most Readers Miss The real Roth advantage is that $9,600 delta reinvested tax-free, every year, with no future RMD pulling capital back out. Average Baby Boomer 401(k) balances of $267,900 and IRA balances of $257,002 mean millions of pre-retirees are about to start RMDs on accounts large enough that asset location drives the next decade of after-tax income more than stock selection. Held outside a Roth, the tax cost on a $40,000 dividend stream is permanent and recurring. Held inside, it is zero.

What to Do If your highest-yielding names sit in a taxable account, calculate your annual tax cost at your bracket before the next filing and rank positions by absolute dollar drag. Model a phased Roth conversion across the gap years, starting with the highest-yielders (MO, VZ, T in this group) before RMDs raise your marginal bracket. If your 2026 taxable income will land below the $96,000 MFJ threshold, harvest qualified dividends or convert at the 0% LTCG rate while the window is open.

Item 1 of 3 Flavored vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo

[1/3]Flavored vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo Purchase Licensing Rights, opens new tab

CompaniesLONDON, June 4 (Reuters) - Six U.S. senators, including Democratic whip Dick Durbin and Elizabeth Warren, wrote public letters to tobacco giants Reynolds American and Altria (MO.N), opens new tab on ​Thursday to ask questions about donations and lobbying of the Trump administration, saying the ‌companies had enjoyed a "lucrative payday" after spending millions to curry favour with the president.

The letter comes after the U.S. Food and Drug Administration laid out a new "enforcement discretion" policy in which it will allow some manufacturers to sell vapes ​and nicotine pouches without the legally required licence. The move could unleash hundreds or more ​vapes onto the market, and followed pressure from the White House for change.

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

It also followed ⁠political donations from both Reynolds, the U.S. subsidiary of British American Tobacco (BATS.L), opens new tab, and Altria as recently ​as April, and a meeting between President Donald Trump and tobacco executives in May.

A bar chart showing a group of tobacco or vape group's contributions to entities or projects linked to Trump"Money well spent," the letters, ​dated June 4, said, adding that the donations and lobbying had enabled tobacco makers to circumvent federal laws to sell addictive vapes, harming the FDA's independence.

"But for you and your shareholders, this was a lucrative payday after years of ​unsuccessful legislative and regulatory efforts to weaken federal tobacco oversight," it said, asking for details on ​donations, meetings and products that will benefit from the change.

"FDA's regulatory treatment of nicotine pouches and vapes is rooted ‌in recent ⁠evidence that has found that these products can help adults quit smoking," White House spokesperson Kush Desai said.

An Altria spokesperson said "the guidance is an important step toward addressing the illicit market by pairing enforcement with expansion of a legal, regulated marketplace for smoke-free products," adding that the company is reviewing the ​implications of its product ​strategy and will continue ⁠to compete within the FDA regulated marketplace.

Reynolds did not immediately respond to requests for comment.

The companies have complained for years that FDA policy has helped ​fuel a booming market for unlicensed devices mostly from China. Reynolds estimates this ​illegal market is ⁠worth some £7 billion ($9.41 billion).

The companies have launched lobbying campaigns and court cases, put sales targets on hold and threatened to launch their own unlicensed products to compete.

Tobacco companies have already announced plans to launch new products following the "enforcement ⁠discretion" policy.

The ​letters were signed by Democratic senators Durbin of Illinois, Warren ​and Edward Markey of Massachusetts, Jeff Merkley of Oregon, Richard Blumenthal of Connecticut and Jack Reed of Rhode Island.

($1 = 0.7435 pound)

Reporting by Emma Rumney in London; Editing by Matthew Lewis

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