Akcie IBM v premarketu vzrostly téměř o 5 % poté, co JPMorgan zvýšil hodnocení na Overweight díky sílícímu softwaru a očekávanému přínosu AI. Software tvoří asi 45 % tržeb IBM, ale zhruba dvě třetiny konsolidovaného zisku.
Shares of IBM climbed nearly 5% in premarket trading on Tuesday after JPMorgan upgraded the technology company, citing increasing confidence in its software business and potential benefits from growing artificial intelligence adoption.
JPMorgan analyst Brian Essex upgraded IBM to Overweight from Neutral and raised his price target to $291 from $270.
The analyst said expectations for software acceleration in the second half of 2026 have strengthened the firm's outlook on the stock.
The upgrade comes as IBM continues a multiyear transformation from a hardware and services provider into a software-led platform focused on hybrid cloud and artificial intelligence technologies.
JPMorgan highlighted several growth drivers, including momentum from Red Hat and OpenShift migration activities.
The firm pointed to OpenShift's role in supporting the adoption of IBM's AI-driven container platform among enterprises.
The analysts also noted accelerating automation demand following IBM's acquisition of HashiCorp, which management said is receiving increasing support from senior corporate executives.
IBM's software segment has become the primary earnings engine for the company.
According to JPMorgan, software now accounts for roughly 45% of IBM's revenue but generates approximately two-thirds of consolidated profit.
"We view the continued shift toward software as positive considering the higher-margin, ratable nature of software with better cash conversion and a higher-quality earnings stream that supports a higher multiple than the hardware and services businesses," the analysts said.
JPMorgan also said that if IBM becomes a significant beneficiary of rising AI demand, the stock could see further valuation expansion.
Separately, Morgan Stanley raised its price target on IBM to $267 from $225 while maintaining an Equal Weight rating.
The firm noted that recent earnings reports from Dell and Hewlett Packard Enterprise demonstrated that enterprise server demand has remained stronger than expected despite higher prices driven by compute shortages, hardware refresh cycles and growing AI infrastructure requirements.
Morgan Stanley added that Wall Street expectations for 2026 and 2027 "look too low" and increased its earnings-per-share estimates by 5% to 6% for companies with exposure to computing demand.
IBM may also benefit from fresh support for quantum computing from the US government.
Chief Executive Officer Arvind Krishna attended the White House on Monday as President Donald Trump signed two executive orders designed to accelerate domestic quantum computing development and strengthen cybersecurity protections against quantum-powered threats.
The first executive order directs the development of "the first-ever quantum computer powerful enough for scientific research," with the goal of locating the system in a national laboratory by 2028.
The second order accelerates the federal government's transition to post-quantum cryptography by 2031.
"When President Trump published a letter to me in early 2025, he prioritized quantum as a key industry for America to lead the world alongside AI and nuclear energy," said Michael Kratsios, the president's top advisor on science and technology policy.
Industry participants are working toward achieving fault tolerance by the end of the decade, a milestone that would allow quantum computers to operate reliably even when individual components experience failures or disruptions.
The latest policy initiatives add another potential growth catalyst for IBM as it expands its presence in artificial intelligence, hybrid cloud software, and next-generation computing technologies.
UnitedHealth plánuje investovat 3 miliardy USD do umělé inteligence v letech 2026 a 2027. Technologie už podle firmy přináší návratnost 2:1 a letos může snížit provozní náklady téměř o 1 miliardu USD.
UnitedHealth says AI is driving 2-to-1 returns and could cut operating costs by almost $1 billion this year. Summary
AI is becoming central to UnitedHealth’s cost-cutting and efficiency push.
UnitedHealth Group UNH is putting artificial intelligence at the center of its turnaround strategy as the company looks to recover from last year's profit collapse. The largest US health insurer plans to invest $3 billion in AI across 2026 and 2027, with executives saying the technology is already generating a 2-to-1 return by automating manual work, improving efficiency, and potentially reducing friction for patients.
The company is using AI across a wide range of administrative tasks, from reading medical chart summaries to nurses on the road, to analyzing millions of customer calls, to testing AI agents that call doctors' offices to schedule appointments. UnitedHealth also expects AI to help reduce operating costs by almost $1 billion this year, while Optum Real, a coverage-checking system for medical providers, has processed about a billion transactions since launching last year.
Wall Street appears focused on the potential cost savings, with Morgan Stanley analysts noting that insurers and medical providers spend $80 billion a year on administrative transactions. Still, UnitedHealth may need to convince a skeptical public that AI will benefit patients, not just the bottom line, as the company faces lawsuits over insurer algorithms and scrutiny after a federal inspector general report linked a naviHealth algorithm to higher denial rates that were almost always overturned on appeal.
Berkshire Hathaway v 1. čtvrtletí zcela opustila UnitedHealth a David Tepper svůj podíl výrazně snížil. Ve stejném kvartálu UNH vykázala upravený EPS 7,23 USD a tržby 111,72 miliardy USD.
Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B | BRK.B Price Prediction) fully exited its UnitedHealth Group (NYSE:UNH) position in Q1 2026, and David Tepper’s Appaloosa Management meaningfully reduced its UNH stake in the same quarter. Chase Coleman also sold UnitedHealth shares in Q1. Meanwhile, the sell-side stayed bullish, with a consensus target of $407.38 and 22 buy or strong buy ratings against a single sell.
Two of the most scrutinized capital allocators in the business walked out the same door, in the same quarter. That is worth thinking about.
What Berkshire and Tepper walked away from UNH is not a broken business. Q1 2026 produced adjusted EPS of $7.23 against a $6.61 consensus, revenue of $111.72 billion, and a medical care ratio that improved 90 basis points to 83.9%. Management raised full-year adjusted EPS guidance to greater than $18.25. The stock is up 22.66% year to date through June 17 and 32.82% over the trailing year.
The path to get there involved shrinking. UnitedHealthcare lost 965,000 Medicare Advantage members in Q1 2026 alone, and the 2026 plan calls for a 2.3 to 2.8 million membership contraction from exits of unprofitable contracts. Margin recovery achieved by shedding members is real. It is also structurally different from margin recovery driven by pricing power.
The thesis behind the exits Three forward-looking pressures appear to be sitting on the trade. First, preliminary 2027 Medicare Advantage rate announcements came in below expectations, the same catalyst SGA Global Growth Fund cited on June 17, 2026 when it sold its entire UNH stake. Second, a federal OIG report on June 12, 2026 documented post-hospital care denial rates of 51 to 80% at UnitedHealth’s Medicare Advantage plans, well above peers. Fairview Health Services said the same week it will stop accepting UnitedHealthcare Medicare Advantage in 2027, affecting more than 11,000 patients.
Third, Optum Health’s profitability is rebuilding slower than the Street modeled. Q1 2026 Optum operating earnings of $3.3 billion still trail the prior-year $3.89 billion, even after Q3 2025’s collapse to $255 million from $2.2 billion. Forward P/E sits at 22x, expensive against quarterly earnings growth of 0.7% and revenue growth of 2%.
What this signals for a retirement portfolio Institutional exits do not automatically equal a verdict. Berkshire trims names for tax, concentration, and opportunity-cost reasons that have nothing to do with a company being doomed. Tepper rotates aggressively and frequently. Both have been wrong on individual names. UNH’s 0.65 beta and 2.15% dividend yield still make it a defensive holding by construction.
The useful question is whether the bull case rests on assumptions Berkshire and Tepper rejected. Analyst price targets are anchored to Q1 2026’s margin reset and a clean ramp into 2027. If preliminary 2027 Medicare Advantage rates land where they hint, and if denial-rate scrutiny translates into either rate pressure or forced approvals, both feed straight back into the medical care ratio. That single variable took UNH down to a 52-week low of $228.48.
For a retirement-focused investor, the takeaway is narrower than copying the billionaires. The bullish thesis depends on a 2027 rate environment that two sophisticated holders apparently no longer want to underwrite. Worth weighing before deciding whether the year-to-date rally is the recovery itself or the exit ramp.
UnitedHealth má podle článku navrch díky diverzifikovanému modelu, silnější finanční pozici a širším růstovým možnostem než Humana. Humana sice roste v Medicare a CenterWell, ale ziskovost dál tlačí marže a náklady.
Key Takeaways UNH benefits from insurance, care delivery, pharmacy and technology businesses under one platform.UNH is expanding AI initiatives and value-based care efforts to improve efficiency and growth.Humana's Medicare membership and CenterWell revenues rose strongly, but EPS estimates remain pressured. UnitedHealth Group Incorporated (UNH - Free Report) and Humana Inc. (HUM - Free Report) are leading U.S. managed-care and health insurance companies operating in an industry that is navigating higher medical-cost trends, evolving reimbursement policies and changing regulatory requirements. Both companies have significant exposure to the Medicare Advantage market, making them key participants in one of the fastest-growing segments of the healthcare insurance landscape.
While UNH and HUM compete within the same sector and face many of the same industry dynamics, their business models and strategic priorities differ. UnitedHealth benefits from a diversified healthcare platform that spans insurance, health services and care delivery, whereas Humana maintains a greater focus on government-sponsored healthcare programs, particularly Medicare-related offerings. These distinctions influence their growth profiles, profitability trends and overall market positioning.
Let’s dive deep and closely compare the fundamentals of the two stocks to determine which one is a better bet now.
The Case for UNHUnitedHealth's growth is supported by the breadth of its healthcare ecosystem, which combines insurance, pharmacy services, care delivery and healthcare technology under one platform. The company generated total revenues of $111.7 billion, which grew 2% year over year in the first quarter of 2026, benefiting from pricing actions, a favorable member mix and improving operational execution across its businesses.
UnitedHealthcare unit remains a key earnings driver for the company, supported by its leading positions in Medicare Advantage, commercial insurance and government-sponsored programs. Recent pricing actions have improved alignment between premiums and healthcare costs, while a greater focus on affordability initiatives and cost management is helping stabilize margins. The business is also expanding digital engagement, with nearly half of its members now using its digital platform and digital interactions becoming the primary channel for customer service. In the first quarter of 2026, the unit’s revenues rose 1.9% year over year.
Another major contributor to future growth is Optum Health, where the company continues to strengthen its value-based care models. The segment served around 93 million people in first-quarter 2026. Greater care coordination, improved patient navigation and enhanced clinical oversight are helping reduce unnecessary hospital and post-acute care utilization, supporting better health outcomes while improving operating performance.
Technology is becoming another key pillar of UnitedHealth's strategy. The company plans to invest nearly $1.5 billion in AI-related initiatives in 2026 to streamline administrative processes, improve customer experiences and increase productivity across its operations. Meanwhile, Optum Insight is expanding AI-driven solutions for healthcare providers and payers, creating an additional avenue for growth beyond traditional insurance operations.
Alongside these efforts, investments in provider connectivity, automation and streamlined authorization processes are helping improve member experiences, drive operational efficiencies and strengthen the long-term competitiveness of the insurance segment. The company benefits from significant scale and diversification, although persistent medical-cost inflation and regulatory changes could weigh on earnings growth in the near term. UNH beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 0.8%.
Financially, UNH is in a solid position. It ended the first quarter of 2026 with $31.2 billion in cash and short-term investments, sufficient to cover its short-term borrowings and current maturities of long-term debt, which stands at $6.5 billion. Its total debt-to-capital of 40.75% is below HUM’s 42.9% and the industry’s 42.9%. In the first quarter of 2026, it paid dividends worth $2 billion.
The Case for HUMHumana's growth is being driven by continued expansion in its Medicare-focused businesses and the increasing scale of CenterWell, its healthcare services platform. In the first quarter of 2026, total revenues rose 23.5% year over year, supported by strong growth in Medicare Advantage and Medicare Part D membership. Total Medicare membership increased to nearly 11 million members, while Medicare Advantage membership climbed 23% year over year to 7.1 million in the quarter.
CenterWell remains a key strategic growth engine for Humana as the company continues to deepen its presence across primary care, home health and pharmacy services. The segment generated $6.1 billion in revenues in the first quarter of 2026, up nearly 20% from the prior-year period. By strengthening the integration between healthcare services and insurance operations, CenterWell supports member engagement, care coordination and long-term growth opportunities beyond the company's core insurance business.
The company is emphasizing disciplined pricing, benefit optimization and cost-management initiatives to improve Medicare Advantage margins following a period of elevated healthcare utilization. This approach is designed to strengthen earnings quality and support a more sustainable long-term growth profile while maintaining competitiveness in its core markets. It beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 3.8%.
HUM is also investing in data interoperability, digital capabilities and quality-improvement initiatives that support its integrated care model. These efforts are intended to enhance healthcare outcomes, improve operational efficiency and strengthen Star Ratings performance over time, which remains a key driver of reimbursement levels, member retention and long-term profitability. However, competitive pressures and ongoing cost trends remain key factors that could influence earnings and margin recovery in the years ahead.
Nevertheless, as of March 31, 2026, the company had cash and cash equivalents of $5 billion, with short-term debt of $1.7 billion only, which implies a solid capital position. Humana has been returning excess capital to its shareholders in the past several years. It repurchased common shares in connection with employee stock plans for $107 million in the first quarter of 2026. The company also paid dividends of $107 million during the quarter. However, its dividend yield of 1% is below UNH’s 2.3%.
Price Performance ComparisonIn the year-to-date period, HUM shares have outperformed UNH, the industry and the S&P 500.
Price Performance – UNH, HUM, Industry & S&P 500
Image Source: Zacks Investment Research
How Do Estimates Compare for UNH & HUM?The Zacks Consensus Estimate favors UNH at this stage. The consensus estimate for UNH’s 2026 earnings indicates a 12.1% increase from a year ago. Over the past 60 days, the estimate has witnessed 14 upward revisions with no downward adjustments. Meanwhile, the consensus estimate for revenues suggests a 0.9% decline.
On the other hand, the Zacks Consensus Estimate for HUM’s 2026 revenues indicates 25.3% year-over-year growth, but the same for EPS signals a massive 47.4% decline. Over the past 60 days, the estimate has seen three upward revisions with two downward adjustments.
Valuation: UNH vs. HUMFrom a valuation standpoint, UnitedHealth may appear slightly more expensive than the industry at first glance, but it represents its size, operational consistency and business diversification. Humana’s stock currently trades at a higher multiple than UNH. UnitedHealth is currently priced at 20.57X forward 12-month earnings, compared to Humana’s 30.47X, both above the industry average of 17.46X.
Image Source: Zacks Investment Research
UNH currently trades below its average analyst price target of $412.56, implying a 2.9% potential upside from current levels. Meanwhile, HUM trades above its average analyst price target of $300.26, implying a 16.7% potential downside from current levels.
ConclusionBoth UnitedHealth and Humana are leading managed-care companies with strong positions in the Medicare Advantage market. Humana is benefiting from robust membership growth and the expansion of CenterWell, but its earnings recovery remains dependent on improving Medicare Advantage margins and reimbursement dynamics.
UnitedHealth, however, appears to have the edge due to its diversified business model, stronger financial position and broader growth opportunities across insurance, healthcare services and technology. Despite ongoing regulatory and cost-related pressures, its superior earnings growth outlook, attractive valuation and higher dividend yield make UNH the stronger healthcare stock at present, even though both companies currently carry a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FDA schválila rozšířené použití CAPVAXIVE společnosti Merck pro děti a dospívající ve věku 2 až 17 let se zvýšeným rizikem pneumokokového onemocnění. V USA je tak jedinou PCV specificky indikovanou a studovanou pro tuto skupinu.
RAHWAY, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced that the U.S. Food and Drug Administration (FDA) has approved an expanded indication for CAPVAXIVE® (Pneumococcal 21-valent Conjugate Vaccine) to include children and adolescents aged 2 through 17 years who have completed a primary pediatric pneumococcal vaccination series and have one or more chronic medical conditions that put them at an increased risk for pneumococcal disease. With this approval, CAPVAXIVE is the only PCV specifically indicated and studied in the U.S. for use in this patient population.
CAPVAXIVE is indicated for:
Active immunization for the prevention of invasive pneumococcal disease caused by Streptococcus pneumoniae serotypes 3, 6A, 7F, 8, 9N, 10A, 11A, 12F, 15A, 15B, 15C, 16F, 17F, 19A, 20A, 22F, 23A, 23B, 24F, 31, 33F and 35B in individuals 18 years of age and older and individuals 2 through 17 years of age who are at increased risk for pneumococcal disease; Active immunization for the prevention of pneumonia caused by S. pneumoniae serotypes 3, 6A, 7F, 8, 9N, 10A, 11A, 12F, 15A, 15C, 16F, 17F, 19A, 20A, 22F, 23A, 23B, 24F, 31, 33F and 35B in individuals 18 years of age and older. CAPVAXIVE should not be administered to individuals with a history of a severe allergic reaction (e.g., anaphylaxis) to any component of CAPVAXIVE or to diphtheria toxoid; see additional Select Safety Information below.
The indication for the prevention of pneumonia caused by S. pneumoniae serotypes 3, 6A, 7F, 8, 9N, 10A, 11A, 12F, 15A, 15C, 16F, 17F, 19A, 20A, 22F, 23A, 23B, 24F, 31, 33F, and 35B is approved under accelerated approval based on immune responses as measured by opsonophagocytic activity (OPA). Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial.
“Children and adolescents with certain chronic conditions are at an increased risk for pneumococcal disease, including pneumonia, meningitis, and bloodstream infections,” said Dr. Rotem Lapidot, Chief of Pediatric Infectious Diseases at Rambam Health Care Campus, investigator, STRIDE-13 trial. “This approval recognizes the potential of CAPVAXIVE to deliver additional protection by including serotypes not contained in approved primary pediatric PCV series, and represents a new approach to helping protect children and adolescents at increased risk for pneumococcal disease.”
The approval is based on data from the Phase 3 STRIDE-13 trial, which evaluated CAPVAXIVE compared to PPSV23 (pneumococcal 23-valent polysaccharide vaccine) in children and adolescents aged 2 through 17 years who completed a primary pediatric pneumococcal vaccination series and have one or more chronic medical conditions that put them at an increased risk of pneumococcal disease. See “STRIDE-13 Clinical Data Supporting Approval” below for additional details.
“While CAPVAXIVE was specifically designed for adults, it may also offer additional disease protection for this specific population of children and adolescents, when given after the primary pediatric pneumococcal vaccination series,” said Dr. Paula Annunziato, senior vice president, infectious diseases and vaccines, global clinical development, Merck Research Laboratories. “The approval of CAPVAXIVE for children and adolescents at increased risk for pneumococcal disease demonstrates our commitment to addressing this disease in people of all ages, not only addressing an unmet need, but also reinforcing Merck’s longstanding commitment to public health and infectious diseases.”
The expanded indication for CAPVAXIVE complements existing primary pediatric pneumococcal vaccination series for children and adolescents at increased risk for pneumococcal disease. According to a 2025 study of 2015-2019 CDC ABC surveillance data, including three groups, one of which consisted of children <18 years old (age range 31 to 109 months; n=219) with at least one risk condition for invasive pneumococcal disease (IPD) such as chronic heart disease, chronic lung disease, diabetes, and chronic kidney disease, CAPVAXIVE covers the serotypes responsible for ~79% of IPD cases. In this risk group, the 11 unique serotypes covered by CAPVAXIVE account for ~40% of IPD cases. These values are based on CDC epidemiologic data and do not reflect the efficacy of CAPVAXIVE. There are currently no studies evaluating the efficacy of CAPVAXIVE.
About CAPVAXIVE
CAPVAXIVE is Merck’s 21-valent pneumococcal conjugate vaccine indicated for active immunization for the prevention of invasive disease and pneumonia in adults 18 years of age and older and for the prevention of invasive disease in children and adolescents aged 2 through 17 years who have one or more chronic medical conditions that put them at an increased risk of pneumococcal disease. CAPVAXIVE was specifically designed to help address the Streptococcus pneumoniae serotypes predominantly responsible for IPD in adults, including eight unique serotypes, 15A, 15C, 16F, 23A, 23B, 24F, 31 and 35B compared to other approved pneumococcal vaccines. CAPVAXIVE is administered as a single dose.
CAPVAXIVE helps provide coverage against the serotypes responsible for approximately 82% of IPD cases in adults 50 years of age and older, compared to ~54% by PCV20, based on national-level CDC data from 2019-2023. These values are based on CDC epidemiologic data and do not reflect the efficacy of the respective vaccines. There are currently no studies comparing the efficacy of CAPVAXIVE and PCV20.
With this approval, CAPVAXIVE is also indicated for the prevention of invasive disease in children and adolescents aged 2 through 17 years who have one or more chronic medical conditions that put them at an increased risk for pneumococcal disease.
Select Safety Information for CAPVAXIVE in Children and Adolescents at Increased Risk for Pneumococcal Disease in the U.S.
Do not administer CAPVAXIVE to individuals with a history of a severe allergic reaction (e.g., anaphylaxis) to any component of CAPVAXIVE or to diphtheria toxoid.
Syncope may occur with administration of injectable vaccines.
Individuals with altered immunocompetence, including those receiving immunosuppressive therapy, may have a reduced immune response to CAPVAXIVE.
The most commonly reported (>10%) solicited adverse reactions in individuals 18 through 49 years of age who received CAPVAXIVE were: injection-site pain (73.1%), fatigue (36.0%), headache (27.5%), myalgia (16.4%), injection-site erythema (13.8%), and injection-site swelling (13.3%).
The most commonly reported (>10%) solicited adverse reactions in individuals 50 years of age and older who received CAPVAXIVE were: injection-site pain (41.2%), fatigue (19.7%), and headache (11.0%).
The most commonly reported (>10%) solicited adverse reactions in individuals 2 through 17 years of age who are at increased risk for pneumococcal disease were: injection-site pain (67.7%), injection-site erythema (24.3%), fatigue (20.1%), injection-site swelling (18.8%), headache (17.1%), malaise (13.3%), and irritability (11.6%).
Vaccination with CAPVAXIVE may not protect all vaccine recipients.
STRIDE-13 Clinical Data Supporting Approval
STRIDE-13 (NCT06177912) is a randomized, double-blind, active comparator-controlled Phase 3 study that evaluated individuals 2 through 17 years of age with one or more prespecified medical conditions (diabetes mellitus, chronic heart disease, chronic kidney disease, chronic liver disease, chronic lung disease) known to increase the risk of pneumococcal disease and who have previously completed a primary pneumococcal vaccination regimen at least 8 weeks prior to enrollment (n=874). Participants were randomized 3:2 to receive a single dose of CAPVAXIVE (n=527) or PPSV23 (n=347). Results from the study include:
CAPVAXIVE was noninferior to PPSV23 for the 12 shared serotypes and induced statistically significantly greater OPA GMTs compared to PPSV23 for the 9 serotypes unique to CAPVAXIVE; CAPVAXIVE also elicited immune responses to serotype 15B (cross-reactive to serotype 15C). In a post hoc analysis utilizing the same prespecified noninferiority criterion that was used for the shared serotypes, CAPVAXIVE was noninferior to PPSV23 for serotype 15B; The safety profile of CAPVAXIVE was generally comparable to PPSV23. Solicited adverse reactions following administration of CAPVAXIVE lasted a median of 2 days with most reactions lasting ≤3 days; The proportion of individuals reporting 1 or more serious adverse events (SAE) within 6 months postvaccination was 5.5% (n=29) in individuals vaccinated with CAPVAXIVE and 7.2% (n=25) in individuals vaccinated with PPSV23. There were no notable patterns or imbalances between vaccine groups for SAEs. One individual (0.2%) who received CAPVAXIVE had an SAE considered related to vaccination. This SAE was syncope (Grade 2, required hospitalization) and occurred approximately 3 minutes postvaccination. About Pneumococcal Disease
Pneumococcal disease is an infection caused by bacteria called Streptococcus pneumoniae. There are about 100 different types (referred to as serotypes) of pneumococcal bacteria, which can affect adults differently than children. Pneumococcal disease can be invasive or non-invasive. Non-invasive pneumococcal illnesses include pneumonia (when pneumococcal disease is confined to the lungs), whereas invasive pneumococcal illnesses include pneumococcal bacteremia (infection in the bloodstream), bacteremic pneumococcal pneumonia (pneumonia with bacteremia) and pneumococcal meningitis (infection of the coverings of the brain and spinal cord).
About Merck
At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).
Please see the Prescribing Information for CAPVAXIVE (Pneumococcal 21-valent Conjugate Vaccine) at https://www.merck.com/product/usa/pi_circulars/c/capvaxive/capvaxive_pi.pdf and the Patient Information/Medication Guide for CAPVAXIVE at https://www.merck.com/product/usa/pi_circulars/c/capvaxive/capvaxive_ppi.pdf .
Merck oznámil, že tulisokibart ve fázi 3 splnil primární i klíčové sekundární cíle u středně až těžce aktivní ulcerózní kolitidy. Ve 12. týdnu dosáhl klinické remise bez bezpečnostních obav.
Tulisokibart is the first anti-TL1A monoclonal antibody to demonstrate clinical remission at 12 weeks in moderately to severely active UC in a Phase 3 trial
Tulisokibart was designed to help address immuno-fibrosis, a key driver of disease progression in inflammatory bowel disease (IBD) and other immune-mediated inflammatory conditions
RAHWAY, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced positive topline results from the Phase 3 ATLAS-UC induction-only study (Study 2) evaluating tulisokibart (MK-7240), an investigational humanized monoclonal antibody targeting tumor necrosis factor-like cytokine 1A (TL1A), in patients with moderately to severely active UC. The study successfully met its primary endpoint of clinical remission according to the Modified Mayo Score (MMS) at week 12, as well as key secondary endpoints. Consistent with previously reported Phase 2 studies, no safety concerns were identified.
“These positive Phase 3 induction results for tulisokibart are the first for an anti-TL1A biologic. They represent an important step forward for patients with moderately to severely active ulcerative colitis who – despite available treatments – continue to experience symptoms, and do not achieve clinical remission,” said Dr. Eliav Barr, senior vice president, head of global clinical development and chief medical officer, Merck Research Laboratories. “These results reinforce the potential of this novel approach designed to help address immuno-fibrosis, a key driver of chronic immune dysregulation and disease progression in ulcerative colitis.”
Results from the ATLAS-UC Study 2 will be presented with the results from the ongoing induction and maintenance study (Study 1) at an upcoming scientific congress and will be shared with regulatory authorities.
Tulisokibart has the broadest development program in the novel anti-TL1A class and is currently being evaluated in seven disease indications. Phase 3 studies include ATLAS-UC (NCT06052059) in UC and ARES-CD (NCT06430801) in Crohn’s disease (CD). Phase 2 studies are evaluating tulisokibart in systemic sclerosis-associated interstitial lung disease (SSc-ILD) (NCT05270668), rheumatoid arthritis (RA) (NCT07176390), psoriatic arthritis (PsA) (NCT07486960), radiographic axial spondyloarthritis (r-axSpA) (NCT07133633) and hidradenitis suppurativa (HS) (NCT06956235). For an overview of Merck’s clinical development program in immunology, please click here.
About ATLAS-UC
ATLAS-UC (NCT06052059) is a Phase 3, randomized, double-blind, placebo-controlled program designed to evaluate the efficacy and safety of tulisokibart in adults with moderately to severely active ulcerative colitis (UC). The program consists of two independent studies: Study 1, which includes both induction and maintenance treatment, and Study 2, which includes only induction treatment.
Study 2 is investigating whether at least one tulisokibart dose level is superior to placebo in the proportion of participants achieving clinical remission, according to the MMS at week 12. Participants were randomized to either receive a high dose IV of tulisokibart, a low dose IV of tulisokibart or an IV placebo. Key secondary endpoints at week 12 include percentage of patients who experienced endoscopic improvement, percentage of patients who achieved clinical response per MMS and percentage of patients who demonstrated histologic-endoscopic mucosal improvement.
About Ulcerative Colitis
Ulcerative colitis (UC) is one of the most common types of IBD and is a chronic progressive immuno-fibrotic disease that affects the large intestine and rectum. Recent evidence suggests that UC involves not only the mucosa but also deeper transmural changes with fibrosis in the colorectal wall. Millions of people worldwide live with UC, and symptoms can be unpredictable and may significantly impact quality of life. UC often follows a relapsing and remitting course, with symptoms that may include diarrhea, rectal bleeding, abdominal pain, bowel urgency and weight loss. Many patients with UC do not achieve adequate disease control despite the availability of currently approved treatments.
About Tulisokibart
Tulisokibart is an investigational humanized monoclonal antibody directed to a novel target, TL1A, that is associated with both intestinal inflammation and fibrosis (immuno-fibrosis). Tulisokibart is thought to bind both soluble and membrane-bound TL1A. Merck is developing tulisokibart for the treatment of immune-mediated inflammatory diseases, including UC, CD, SSc-ILD, RA, PsA, r-axSpA and HS.
About Immuno-fibrosis
Immuno-fibrosis is the process by which inflammation and fibroblast activation drive disease activity and progression in many autoimmune conditions, including UC. Immuno-fibrotic diseases are chronic progressive conditions marked by immune dysregulation, inflammation and fibroblast activation. The impact of immuno-fibrosis may vary by disease, stage and patient. The complexity of immuno-fibrosis underscores the need for treatment options that address both inflammation and fibrosis. Merck is advancing research to deepen the understanding of immuno-fibrosis and help translate the science into new approaches.
Merck’s Commitment to Immunology
Advances in our understanding of human biology have led to the emergence of innovative medicines and new modalities that aim to change approaches to the treatment of immune-mediated inflammatory diseases. Merck scientists are leveraging deep expertise in immunology to discover and develop therapies to help people living with these conditions. Our research is focused on investigating novel targets such as TL1A and CD30L, as well as newer modalities like T-cell engagers, and exploring their potential across a range of immune-mediated inflammatory diseases.
About Merck
At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).
On June 17, 2026, we present a DCF analysis for Electronic Arts Inc EA , a company that has shown a price performance of +34.9% over the past year, despite a year-to-date decline of -0.5%. The current price of EA stands at $203.02.
DCF Earnings-based intrinsic value indicates a significant overvaluation with a margin of safety of -405.4%. DCF FCF-based intrinsic value suggests a modest overvaluation with a margin of safety of -72.7%. GF Score™ of 90/100 indicates a high reliability of the DCF inputs. What Is EA Worth? DCF Earnings-Based Model The DCF earnings-based model for Electronic Arts Inc EA utilizes a two-stage approach to estimate the intrinsic value of the stock. The first stage accounts for the growth phase over the next ten years, while the second stage considers the terminal phase for the subsequent ten years.
Parameter Value Current EPS (TTM, excl. non-recurring) $3.48 10-Year Growth Rate 2.3% 10-Year Treasury Rate 4.43% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the first stage, the EPS is expected to grow at a rate of 2.3% per year for ten years, discounted at a rate of 11%. The calculated value for this growth stage is $22.84 per share. In the second stage, after year ten, the growth rate slows to a terminal growth rate of 4% for another ten years, also discounted at 11%, yielding a terminal stage value of $10.94 per share.
Stage Description Value Growth Stage (Years 1-10) EPS growing at 2.3%, discounted at 11% $22.84 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $10.94 Intrinsic Value Growth + Terminal $33.78 With the current price at $203.02, the intrinsic value calculated at $40.17 indicates that EA is significantly overvalued, with a margin of safety of -405.4%. It is important to note that GuruFocus uses EPS without non-recurring items, as research shows that stock prices correlate more closely with earnings than with free cash flow. For further analysis, you can visit the EA DCF Calculator.
What Does the Free Cash Flow DCF Say? The Free Cash Flow (FCF)-based intrinsic value for Electronic Arts Inc is calculated at $117.59. When comparing this with the earnings-based intrinsic value of $33.78, the two models suggest a modest overvaluation, with a margin of safety of -72.7%. This divergence highlights the importance of considering multiple valuation approaches when assessing a company's worth.
How Does GF Value™ Compare to the DCF Models? The GF Value™ for Electronic Arts Inc is calculated at $159.55, providing a third perspective on valuation. GF Value™ is GuruFocus' proprietary measure, derived from historical trading multiples, past business growth, and future performance estimates. All three models—DCF earnings, DCF FCF, and GF Value™—indicate that EA is overvalued, reinforcing the need for caution among investors. For more details, visit the GF Value™ page.
What Does EA's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).
Metric Rating GF Score™ 90/100 Financial Strength 8/10 Profitability 9/10 Growth 8/10 Valuation 5/10 Momentum 9/10 The predictability rank for EA is 2/5 stars, indicating that higher predictability means the DCF model is more reliable for this stock. For more insights, visit the EA stock page.
Key Assumptions and Limitations It is important to note that DCF models are highly sensitive to growth rate and discount rate assumptions. Stocks with low predictability ratings, such as EA, produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not fully capture future market conditions.
What This Means for Investors In conclusion, the DCF earnings model indicates a significant overvaluation, while the FCF model suggests a modest overvaluation. The GF Value™ also supports this perspective, indicating that EA is overvalued. Overall, investors should exercise caution when considering EA as a potential investment. For the full DCF analysis, visit the EA DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.
Frequently Asked Questions What is EA's intrinsic value based on DCF?
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Chevron podepsal s Microsoftem 20letou smlouvu o dodávkách elektřiny pro datacentrum v Texasu. Projekt má dodat 2,7 GW a první elektřina má přijít v roce 2028.
CNBC’s Brian Sullivan walked viewers through a landmark energy agreement that paints the picture for how much electricity the AI buildout actually needs. Chevron has signed a 20-year power purchase agreement with Microsoft to supply natural-gas-fired electricity to a Microsoft data center in far west Texas, about an hour southwest of Odessa. According to Sullivan, the project will deliver 2.7 gigawatts of capacity, roughly the equivalent of two million homes’ worth of power, and represents “one of the first we’ve seen of its kind, certainly of its size, by Chevron.”
Four publicly traded names sit at the center of the project: Chevron (NYSE:CVX | CVX Price Prediction), Microsoft (NASDAQ:MSFT), GE Vernova (NYSE:GEV), and Caterpillar (NYSE:CAT). Sullivan noted that Caterpillar and GE Vernova supply the turbines that convert natural gas into electricity for the facility, while Chevron supplies the molecules from its Permian Basin position.
What the Deal Looks Like in the Filings In its Q1 2026 8-K, Chevron disclosed an “exclusivity agreement with Microsoft” and Engine No. 1 for a power generation project in West Texas. The branded version, Project Kilby, will be operated through Chevron’s Energy Forge One LLC in partnership with Joulent, targeting a Final Investment Decision by the end of 2026 and delivering first power in 2028. According to Chevron’s press release, the project’s local impact figures include over $10 billion in expected tax revenue and almost 2,000 jobs.
For Chevron, this is a meaningful new growth wedge on top of an already-strong operating base. CEO Mike Wirth said, “2025 was a year of significant achievement. We successfully integrated Hess, started up major projects, delivered record production, and reorganized our business.” The company posted record full-year 2025 production of 3,723 MBOED, $33.9 billion in operating cash flow, and a 39th consecutive annual dividend increase. Shares closed at $173.63 on June 18, up 22.08% over the past year.
Why Microsoft Is Locking Up Power for Two Decades The scale of Microsoft’s AI infrastructure spend explains the urgency. Satya Nadella told investors that “our AI business surpassed an annual revenue run rate of $37 billion, up 123% year-over-year.” Capital expenditures hit $30.88 billion in fiscal Q3 2026, up 84.39% year over year, with commercial remaining performance obligations of $627 billion. Shares trade at $379.40, down 21.2% year-to-date, as investors weigh capex intensity against future AI returns.
Other Picks-and-Shovels Beneficiaries GE Vernova and Caterpillar are the most direct beneficiaries of agreements like this. On Q1 2026 results, GE Vernova CEO Scott Strazik said, “Our Q1 Electrification orders to data centers were more than full-year 2025 results,” with total Q1 orders of $18.3 billion and gas power gigawatts under contract growing sequentially from 83 to 100. Shares climbed 22.44% in the past week to $1,109.73, and 127% over one year.
Caterpillar CEO Joe Creed announced on the same earnings cycle that “Power generation grew 48%, driven by strong demand for large gensets and turbines used in data center applications with an increasing mix towards prime power,” and disclosed a new 2.1 gigawatt prime power agreement, the sixth of at least one gigawatt. Caterpillar stock sits at $985.82, up 176.97% year over year.
The Natural Gas Backdrop and What to Watch Brian Sullivan framed the macro pressure bluntly: “The demand for natural gas from the United States, unfortunately and kind of sadly, will only go up.” He connected that to a major natural gas facility in Qatar that was damaged in March, with an attempted restart reportedly exploding on the day of his report, reinforcing the value of domestic supply. Henry Hub spot prices are near $3.06/MMBtu as of mid-June 2026, elevated relative to the 2024 baseline, following a brief January 2026 spike to $30.72/MMBtu.
Traditional oil and gas companies are increasingly becoming infrastructure providers for AI data centers, while equipment suppliers benefit from years of contracted demand. Investors should watch for a final investment decision by year-end, potential opposition from West Texas communities over water and land use, and whether other energy producers follow Chevron’s lead by signing long-term power agreements tied to the growing AI investment cycle.
Josh Brown doporučuje držet Interactive Brokers, Caterpillar a Delta Air Lines do konce roku 2026, protože všechny tři dál výrazně překonávají trh. U IBKR, CAT i DAL ho podporují silné výsledky a růst podnikání.
Ritholtz Wealth Management’s top executive, Josh Brown, is recommending investors stick with three outperformers through the end of this year (2026).
His top picks – Interactive Brokers, Caterpillar, and Delta Air Lines – have notably outperformed the broader market in recent months, which Brown believes justifies owning these names for the long term.
According to him, positions that keep working need no new reason to stay in your portfolio.
IBKR shares have been on Brown’s list of “Best Stocks in the Market” ever since they broke out of a cup-and-handle pattern in mid-2025.
In the trailing 12 months, the global electronic brokerage firm has rallied a remarkable 80%.
Brown attributed part of this explosive move to a float that’s small relative to founder Thomas Peterffy’s stake – limiting supply as demand persists.
Crucially, Interactive Brokers’ Q1 results back up the chart: client accounts grew 31% year over year to 4.75 million, client equity rose 38%, and margin loans climbed by some 40% to $90 billion.
In the first quarter, the company’s commissions hit a record $613 million – with stock, futures, and options volume all posting double-digit annual gains.
A 0.36% dividend yield makes IBKR even more attractive to own in 2026.
Caterpillar stock joined Brown’s list in April primarily because of its Power and Energy segment’s exposure to the AI infrastructure buildout – a thesis that has since strengthened.
In Q1, the company’s power generation sales grew a whopping 48% year-over-year – pushing the order backlog up 79% to record levels.
This even prompted management to raise its 2026 revenue guidance and more than triple its long-term power generation target through the end of this decade.
Despite a 270 bps tariff hit, CAT’s adjusted earnings per share (EPS) came in up 30% in the latest reported quarter.
Note that a gas engine running continuously for data centers generates about 40x the lifetime services revenue of a standby diesel unit.
Caterpillar remains attractive also because its board lifted the quarterly dividend recently to $1.63, extending a 32-year streak.
At writing, the firm’s share price is up nearly 45% versus early April.
Josh Brown first shared his constructive view on Delta Air Lines stock in December 2025, and it’s gained more than 20% since then.
The rebound has been led by premium and corporate demand: premium revenue grew 14% in Q1, loyalty sales came in up 13%, while corporate bookings hit a quarterly record.
The main cabin posted positive unit revenue growth, its first since late 2024, with domestic revenue and international revenue gaining 6% and 5%, respectively.
A record $14.2 billion in Q1 sales saw free cash flow hit $1.2 billion, with the outlook for the current quarter pointing to low-teens revenue growth.
Much like the other names on his list, DAL shares also currently pay a dividend yield of 1%.
AI boom žene poptávku po elektřině a z Caterpillaru, GE Vernova i Bloom Energy dělá jedny z největších letošních vítězů. Caterpillar i GE Vernova hlásí rekordní backlogy, Bloom prudce zvedl výhled tržeb i zisku.
The artificial intelligence boom has created enormous wealth for chipmakers and cloud computing giants.
Yet some of the stock market's biggest winners this year have been companies selling products that look more at home in industrial equipment catalogues than in Silicon Valley.
Shares of Caterpillar, GE Vernova, and Bloom Energy have posted returns rivalling many technology leaders in 2026, as investors increasingly focus on one of the biggest constraints facing artificial intelligence development.
The rapid construction of AI data centers has created unprecedented demand for reliable, round-the-clock power at a time when electricity grids around the world are struggling to keep pace.
Investors increasingly see the AI infrastructure buildout as part of a broader industrial transformation.
"If we go back five years or so, the opportunity was we're building more roads, we're building more bridges, and infrastructure was stage one," Chris Semenuk, an investment partner at Tema ETFs, said on an episode of the "Other People's Money" podcast last week.
With that infrastructure now built, the focus is broadening out, he noted.
Semenuk pointed to "unprecedented" backlogs at companies like Caterpillar and GE Vernova as evidence of the "reindustrialization" theme.
Caterpillar, best known for its yellow construction equipment, crossed a major milestone on Monday as its shares traded above $1,000, making it one of only two stocks in the S&P 500 with a four-digit share price.
The stock has gained more than 70% this year.
The company reported first-quarter revenue of $17.4 billion, up 22% from a year earlier, while adjusted earnings per share of $5.54 comfortably topped Wall Street expectations of $4.64.
The surprise driver of that growth was not construction activity but demand for power equipment.
Caterpillar's Power & Energy division, now the company's largest and fastest-growing business, generated revenue of $7.03 billion during the quarter, rising 22% year-on-year.
Within that segment, power generation sales jumped 41% to $2.82 billion, largely driven by data center projects.
The company's total backlog reached a record $63 billion, up 79% from a year earlier, primarily due to AI-related infrastructure spending.
Caterpillar's power and energy segment "is becoming increasingly dominant as demand for its large reciprocating engines and turbines swells with data-center/AI capital spending," Gimme Credit analyst Carol Levenson wrote in a recent note to clients.
The division now contributes roughly 40% of Caterpillar's revenue, matching the contribution from its traditional construction business.
Semenuk believes the opportunity is still in its early stages and said Caterpillar could be generating at least $10 in quarterly earnings per share by 2029, nearly double its latest quarterly earnings.
Among industrial companies, GE Vernova is perhaps the purest play on AI-driven electricity demand.
Spun out of General Electric in April 2024, the company manufactures gas turbines, grid equipment, and wind turbines.
Its shares have risen 66% this year.
GE Vernova posted better-than-expected earnings in April and raised its full-year outlook, sending the stock sharply higher.
The company expects its backlog for power generation and electrification equipment and services to reach $200 billion by the end of 2027, roughly one year ahead of its previous target.
Demand is being fueled by the construction of AI data centers, which has triggered an electricity investment boom not seen since the post-World War II period.
In the first quarter alone, GE Vernova booked $2.4 billion in electrification equipment orders tied specifically to data centers, surpassing the total booked during all of 2025.
Wall Street expects the company to generate earnings per share of about $24 in 2027, compared with estimates near $18 only a year ago.
After the company's latest earnings, Jefferies analyst Julien Dumoulin-Smith raised his price target on the stock to $1,350 from $965 while maintaining a Buy rating, arguing that strong business conditions should persist through the end of the decade.
Baird analyst Ben Kallo was even more optimistic, increasing his target price to $1,400 from $1,008 and retaining an Outperform rating.
The most dramatic gains have come from Bloom Energy.
Shares of the fuel-cell maker have surged roughly 250% this year as hyperscale data center operators seek alternatives to constrained power grids.
Bloom manufactures solid oxide fuel cells capable of generating electricity directly at data center campuses without relying on utility infrastructure.
The company's appeal lies not only in the amount of electricity AI facilities need but also in how quickly they can be deployed.
Grid connections for large data centers can take years to secure, while Bloom's systems can be installed in months.
Bloom recently raised its 2026 adjusted earnings forecast to between $1.85 and $2.25 per share, up from a previous range of $1.33 to $1.48.
It also lifted its revenue guidance to between $3.4 billion and $3.8 billion, implying approximately 80% growth at the midpoint.
The company was named the sole power provider for Oracle's Project Jupiter AI campus in New Mexico, which is expected to draw as much as 2.45 gigawatts of electricity from Bloom's fuel cells.
Separately, Nebius Group signed a master agreement worth up to $2.6 billion.
Despite the rally, analysts remain cautious.
Bernstein analyst Sunaina Ocalan initiated coverage with a Market Perform rating and a $276 price target, implying a 25% downside from current levels.
Bernstein said Bloom's solid fuel technology is "increasingly relevant in a scenario where grid infrastructure can't keep up with expected load growth," but added that investors need more confidence in the company's path toward sustainable cash flow and expansion capacity.
For now, the AI boom is reshaping market leadership in unexpected ways, turning power equipment manufacturers into some of Wall Street's most sought-after stocks as electricity becomes one of artificial intelligence's most valuable resources.
Caterpillar zakončil 1. čtvrtletí 2026 s rekordním backlogem ve výši 63 mld. USD, což podpořilo zvýšení výhledu na nízký dvouciferný růst tržeb v roce 2026.
Key Takeaways CAT ended Q1 2026 with a record $63B backlog, up 22% sequentially and 79% year over year.CAT raised its 2026 outlook to low double-digit sales growth, supported by strong demand trends.CAT sees demand from infrastructure, mining, and data center-related energy projects supporting growth. Caterpillar Inc.’s (CAT - Free Report) first-quarter 2026 results showcased strong revenue and earnings growth, but one metric stood out as a particularly important signal for investors: the order backlog. Unlike quarterly sales figures, backlog provides insight into future demand and revenue visibility, offering a clearer view of business momentum over the coming years.
Caterpillar ended the first quarter of 2026 with a record backlog of $63 billion. It was approximately $11.5 billion, or 22% higher sequentially, and $35 billion, or 79% higher than last year. Backlog increased across all three primary operating segments, reflecting broad-based demand strength throughout Caterpillar’s portfolio. About $24.8 billion of this backlog is not expected to be fulfilled within the next 12 months, highlighting the long-duration nature of many customer projects and the company’s growing revenue visibility.
The robust backlog also supports management’s improved outlook for the year. Caterpillar now expects low double-digit sales and revenue growth for 2026, above its earlier view for growth near the upper end of its long-term target range of 5-7%.
In Construction Industries, demand in North America continues to benefit from elevated infrastructure spending supported by the Infrastructure Investment and Jobs Act (IIJA). Ongoing investments in critical infrastructure projects and data center construction are also contributing to healthy activity levels. Within Resource Industries, favorable commodity prices and replacement demand for aging mining fleet are expected to support equipment orders.
In the Power & Energy segment, growth will be driven by sales of both reciprocating engines and turbines and turbine-related services, driven by increasing energy demand to support data center build-out related to cloud computing and generative Artificial Intelligence (AI). CAT is seeing demand for prime power solutions trend higher as data center customers look for alternative power solutions to keep pace with their growth.
Although quarterly revenues may vary with delivery schedules, Caterpillar’s record backlog points to sustained customer demand and provides a strong foundation for future earnings and cash-flow generation.
Industry peers are also reporting improving demand trends. Terex Corporation (TEX - Free Report) ended the first quarter with a backlog of $7.1 billion and a book-to-bill at 109%. Backlog increased 0.4% year over year, as strong booking trends in Materials Processing, Aerials, and Terex Utilities were offset by a decline at Environmental Solution. Terex’s recently completed merger with REV Group added the Specialty Vehicles segment, which contributed $4.48 billion to total backlog. Supported by its healthy order book and favorable end-market conditions, Terex reaffirmed its 2026 net sales outlook of $7.5-$8.1 billion.
Astec Industries (ASTE - Free Report) ended the first quarter with a backlog of $549.2 million, reflecting a 36.4% increase year over year, pointing to improving demand visibility across the portfolio. Astec’s Materials Solutions backlog rose 87.5% to $236.6 million, while Infrastructure Solutions segment’s backlog increased 13.1% to $312.6 million.
Although considerably smaller than Caterpillar, both Terex and Astec reported expanding backlogs. This suggests customers in the industry continue to commit capital to construction and infrastructure projects despite economic uncertainty.
CAT’s Price Performance, Valuation & EstimatesCAT shares have gained 75.6% over the past six months compared with the industry’s 56.2% growth.
Image Source: Zacks Investment Research
Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 37.20X compared with the industry average of 33.71X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CAT’s 2026 earnings indicates year-over-year growth of 29.3%. The consensus mark for revenues implies an increase of 13.2% for the year. The earnings estimate for 2027 indicates 24.3% growth, with revenues rising 10.3%.
Image Source: Zacks Investment Research
Earnings estimates for Caterpillar for both 2026 and 2027 have moved up over the past 60 days, as shown in the chart below.
Image Source: Zacks Investment Research
Caterpillar stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Společnost Newmont získala klíčová regulační povolení pro projekt Red Chris Block Cave v Britské Kolumbii. Tím se otevírá cesta k přechodu z povrchové těžby a k prodloužení životnosti dolu do poloviny 40. let.
DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) (“Newmont”) welcomes the Province of British Columbia’s approval of key regulatory authorizations for the Red Chris Block Cave project. The approvals enable the transition of the Red Chris Mine from current open-pit operations to block caving, allowing an extension of mine life into the mid-2040s. They mark a significant milestone in stage-gating as Newmont advances toward a final investment decision (FID) later this year.
The Province’s approvals include an amended Environmental Assessment Certificate (EAC), achieved through a consent-based process with the Tahltan Nation, as well as an amended Mines Act permit. The Red Chris mineral endowment offers decades of further upside potential beyond this initially permitted phase.
“The Red Chris Block Cave project represents a compelling long-term opportunity and today’s approvals mark a significant milestone in stage-gating as Newmont progresses toward a final investment decision later this year,” said Natascha Viljoen, President and Chief Executive Officer. “With significant mineral endowment, availability of clean hydroelectric power, port access, supportive governments, and strong Indigenous economic leadership, northwest British Columbia is emerging as a world-class mining district. We are proud to have advanced this project through a consent-based framework with the Tahltan Nation, reflecting our shared commitment to responsible resource development.”
Newmont is completing a Definitive Feasibility Study and detailed cost estimate for the Red Chris Block Cave. The project is expected to generate over 1,800 construction jobs, sustain approximately 1,500 peak-season operating roles and increase Canada’s copper production by roughly 15 percent.
In northwest British Columbia, Newmont is the majority owner and operator of the Red Chris Mine with Imperial Metals, its 30 percent joint venture partner. Newmont is also the owner and operator of the Brucejack Mine, and a 50 percent owner of Galore Creek Mining Corporation.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.
This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, expectations regarding mine life estimates, extension of mine life, upside potential, job creation and job opportunity estimates, production and productivity estimates and improvements, timing of investment decisions and other statements regarding future events or results. For a discussion of risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission on February 19, 2026, under the heading Risk Factors. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, except as may be required under applicable securities laws. Continued reliance on “forward-looking statements” is at investors’ own risk.
Akcie Carnival klesly téměř o 6 %, protože ziskový výhled na 3. čtvrtletí ve výši 1,35 USD na akcii zaostal za odhady 1,42 USD. To zastínilo silné výsledky za 2. čtvrtletí a rekordní tržby 6,7 miliardy USD.
Carnival Corp (NYSE:CCL) shares fell almost 6% on Tuesday after the cruise operator issued a third quarter profit outlook below Wall Street expectations, overshadowing stronger-than-expected second-quarter results and record revenue.
The company reported adjusted earnings of $0.41 per share for the quarter ended May 31, ahead of analysts' estimates of $0.33 per share.
Revenue rose to a record $6.7 billion, slightly above the consensus forecast of $6.68 billion.
Net income attributable to Carnival reached $537 million, while adjusted net income climbed more than 20% year over year to a record $569 million. Adjusted EBITDA also hit a record $1.6 billion.
Carnival said customer deposits reached an all-time high of $9 billion, up more than $450 million from the previous year's record, while bookings for the remainder of 2026 remain ahead of last year at historically high prices.
For the third quarter, Carnival expects adjusted earnings of $1.35 per share, below analysts' expectations of $1.42. The company projected full-year 2026 adjusted earnings of $2.22 per share, also below the consensus $2.23.
Carnival CEO Josh Weinstein said the company delivered its "twelfth consecutive quarter of record net yields" despite "extreme geopolitical headwinds and nearly 30% higher fuel costs."
The company said booking trends for Mediterranean itineraries were affected by the prolonged conflict in the Middle East, prompting it to prioritize pricing over occupancy. Carnival noted that it is 93% booked for 2026, with less inventory remaining for sale than at the same point last year.
Weinstein said recent booking trends indicate the company is beginning to see "a reversal of these headwinds," adding that demand for 2027 and beyond continues to run ahead of prior-year levels.
For 2026, Carnival expects net yields to increase about 3.2% from 2025 levels and adjusted cruise costs excluding fuel per available lower berth day to rise approximately 3.7%. The company said elevated logistics costs linked to disruptions from the Middle East conflict are incorporated into its outlook.
Carnival uvedl, že slabší výhled výnosů v druhé polovině roku souvisí s narušením v Evropě, ne s oslabením dlouhodobé poptávky. Ve 2Q překonal odhady díky rekordním zálohám, rekordním výnosům a kontrole nákladů.
Key Takeaways CCL says its softer back-half yield outlook reflects Europe disruption, not weaker long-term demand.Carnival beat Q2 estimates as record deposits, record yields and cost control offset geopolitical pressure.CCL is investing in destinations, fleet upgrades and buybacks while leverage improved to 3.1X. Carnival Corporation (CCL - Free Report) used its second-quarter 2026 earnings call to make a narrow but important point: the company’s softer back-half yield outlook reflects a temporary Europe disruption, not a break in its longer-term demand story.
Management paired that message with evidence of continued execution, including record yields, record customer deposits and tighter cost control that helped offset pressure tied to the Middle East conflict.
CCL Frames Europe as a Temporary HeadwindChief executive officer Josh Weinstein said second-quarter outperformance came despite extreme geopolitical volatility, weak consumer sentiment and sharply higher fuel prices. He argued the main disruption was concentrated in European deployments, especially the Mediterranean, where the prolonged Middle East conflict hurt booking trends and pressured the timing of demand.
Weinstein emphasized that Carnival entered the period with an occupancy advantage and used that flexibility to protect pricing rather than chase volume. That trade-off left the company still ahead of last year on booked position as it entered the third quarter, with 93% of 2026 inventory already sold and less inventory remaining than a year ago.
The quarter itself remained solid. Adjusted EPS came in at $0.41 versus the Zacks Consensus Estimate of $0.35, a 17.1% surprise, while revenues of $6.66 billion topped the consensus estimate of $6.64 billion by 0.3%. Adjusted net income reached a record $569 million, and net yields in constant currency rose 2.2% year over year.
Carnival Leans on Costs to Protect EarningsChief financial officer David Bernstein said Carnival beat its March guidance by $100 million, with cost control doing most of the work. Cruise costs excluding fuel per ALBD were essentially flat year over year, outperforming prior guidance by about 250 basis points.
Bernstein said some of that benefit reflected timing between quarters, but he also described broader changes that should stick. He pointed to multiple efficiency actions implemented across the organization that lowered the cost base and contributed a $0.06 per share improvement to full-year guidance.
That helped Carnival absorb a roughly 1 percentage point cut to yield growth versus prior guidance. Full-year adjusted EPS guidance now stands at $2.22. On a normalized basis, net yield growth is projected at about 2.25%, and cruise costs excluding fuel are expected to rise about 1.3%.
CCL Keeps Building Its Destination AdvantageWeinstein spent considerable time on destinations, treating them as a core earnings driver rather than a side strategy. He highlighted the pier extension at Celebration Key and the new pier at RelaxAway, Half Moon Cay as moves that increase throughput, flexibility and itinerary differentiation.
The company expects Celebration Key to host 3.5 million visitors next year, while Paradise Collection destinations are projected to welcome more than 9 million guest visits. Management argued that pairing Celebration Key with RelaxAway on the same itinerary creates a differentiated beach offering that competitors cannot easily match.
Carnival also pointed to Alaska and Western Caribbean assets as strategic advantages. Weinstein tied those destination investments to pricing power and stronger demand rather than simple capacity growth, reinforcing management’s view that execution on itineraries and owned infrastructure can support yields over time.
Carnival Balances Growth, Buybacks and DeleveragingManagement also used the call to show that stronger cash generation is widening Carnival’s strategic options. Bernstein said the company has already repurchased more than $450 million of stock under its $2.5 billion authorization and expects to return about $1.3 billion to shareholders this year when dividends are included.
At the same time, Carnival continues to invest in fleet renewal and modernization. The company ordered three new Princess ships for 2035, 2038 and 2039, while also expanding mid-life upgrade programs at AIDA and Holland America. Weinstein said those refurbishments are being underwritten to high-teen returns, with added cabins paying back in just a few years.
Leverage kept moving lower as well. Net debt to adjusted EBITDA improved to 3.1X at quarter-end from 3.4X at year-end 2025, giving management room to fund destination projects, buybacks and balance-sheet repair at the same time.
CCL Q&A Sharpened the Europe DebateAnalyst questions centered on how much of the outlook reset was truly tied to Europe and whether the weakness could spill into 2027. Weinstein was direct in saying the entire yield revision relative to March was tied to the Middle East conflict and its effect on European sailings, especially for fly-based North American customers.
He also said recent weeks showed improving trends, and management made clear that current guidance does not assume a return to second-quarter disruption levels. Bernstein added that third-quarter occupancy should be roughly flat year over year, reflecting a willingness to leave some cabins unsold rather than erode pricing.
In 2027, management stopped short of guidance but sounded constructive. Weinstein said bookings and pricing for 2027 are running ahead of last year, including a mid-teens increase in Europe bookings at higher prices, which he offered as proof that the current slowdown has not changed the longer-term demand backdrop.
Carnival Leaves the Call on OffenseThe clearest message from the call was that Carnival sees the second-half moderation as a temporary interruption, not a structural demand issue. Management’s tone stayed confident because pricing held up, costs improved, and bookings outside the immediate disruption zone remained firm.
Just as important, Carnival used the call to show it can keep investing through volatility. Destination expansion, fleet upgrades, buybacks and deleveraging were all presented as parallel priorities supported by a stronger operating base.
Zacks Signals on CCLCCL currently carries a Zacks Rank #3 (Hold), along with a Value Score of A, Growth Score of B, Momentum Score of F and VGM Score of B. Within the Zacks framework, a Hold-ranked stock can still be worth retaining, and the stronger Value and VGM grades indicate more favorable value and blended style characteristics than momentum at current levels. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Style Score is designed to complement, not override, the Zacks Rank. A Zacks Rank #3 calls for more balance than a top-ranked stock, even with an attractive Value or VGM Score, and the rank can change as analysts revise earnings estimates after the quarter.
Synopsys po silném čtvrtletí zůstává pod tlakem, ale 24/7 Wall St. vidí cílovou cenu 561,40 USD, tedy potenciál růstu 23,25 % z 455,51 USD. Tržby ve 2. čtvrtletí fiskálního roku 2026 vzrostly o 42 % na 2,276 mld. USD a management zvýšil výhled na fiskální rok 2026.
Synopsys (NASDAQ:SNPS | SNPS Price Prediction) is one of the most strategically positioned software franchises in the AI-era semiconductor stack, and the recent pullback has reset the setup for investors evaluating the name.
The 24/7 Wall St. price target for Synopsys is $561.40, implying 23.25% upside from $455.51. Our model classifies SNPS as a high-conviction setup, with 90% confidence in the target.
24/7 Wall St. Price Target Summary Metric Value Current Price $455.51 24/7 Wall St. Price Target $561.40 Upside 23.25% Recommendation BUY Confidence 90% A Strong Quarter Met With a Sleepy Stock SNPS is down 7.77% over the past month and 3.03% year to date, trading 14% below its 52-week high of $651.73 and well off the low of $376.18.
The cooldown followed a strong Q2 FY26 print on May 27, 2026: revenue of $2.276B, up 42% YoY, with non-GAAP EPS of $3.35 beating estimates by 5.96%. Design Automation operating margin expanded to 43.3% from 40.9% a year earlier. Management raised FY26 guidance to $9.625B to $9.705B in revenue and $14.72 to $14.80 in non-GAAP EPS.
The Case for $667 and Beyond Bulls have a clean thesis. CEO Sassine Ghazi said on the Q2 call that “AI is scaling semiconductor demand, architectural diversity and complexity of chips and the systems they power, driving demand across our portfolio.”
Synopsys sits at the choke point for every advanced-node design, and the $35 billion Ansys acquisition that closed July 17, 2025 extends that moat into multi-physics simulation.
Q1 FY26 revenue grew 65.4% YoY, and the backlog stood at $11.4B exiting FY25. Of 25 analysts, 17 rate the stock Buy or Strong Buy against just one Strong Sell. Our bull case scenario puts SNPS at $667.14 within 12 months, a 46.46% return, if Ansys synergies accelerate and the September 30 Investor Day reveals raised long-term targets.
The Risks Worth Watching The bear case starts with the balance sheet. SNPS carries roughly $10B in long-term debt and $403.6M in quarterly intangibles amortization, which crushed GAAP net income to $17.1M in Q2.
Bulls will counter that this is purely a non-cash artifact of purchase accounting and that non-GAAP EPS and free cash flow of $2B tell the real story. Design IP remains soft, with management divesting Processor IP Solutions, and export controls into China remain an overhang.
Year-over-year quarterly earnings growth of -0.96% trimmed our factor by 0.03. The bear scenario lands the stock at $494.55 over the next year, still 8.57% above today.
Synopsys Price Prediction 2026-2030 The 24/7 Wall St. price target of $561.40 reflects a high-confidence buy. The tipping factor is the disconnect between accelerating non-GAAP fundamentals and a stock that has gone nowhere YTD.
The bull case rests on AI-driven design complexity remaining a multi-year tailwind and Ansys synergies landing as guided. The bear case strengthens if the trailing P/E of 104 matters more than the forward P/E of 31, or if China export controls tighten further.
Looking further out, here is where our model projects SNPS could trade, assuming current growth and margin trajectories hold.
Year 24/7 Wall St. Price Target 2026 $561.40 2027 $666.63 2028 $710.01 2029 $805.26 2030 $849.44 These projections assume Synopsys keeps executing on Ansys integration and AI design demand stays robust. Significant upside or downside could come from China export policy, EDA pricing power, or the pace of advanced-node design starts.
Akcie Salesforce letos klesly asi o 40 % na nové 52týdenní minimum, přesto tržby vzrostly o 13 % na 11,1 miliardy USD. AI a datové produkty přinesly 3,4 miliardy USD ARR a Agentforce přesáhl 1 miliardu USD.
Few of the market's large-cap software names have fallen as hard this year as Salesforce (CRM +2.22%). The stock recently set a fresh 52-week low and is down about 40% year to date, leaving it among the worst performers in enterprise software. What makes the slide unusual is that the underlying business keeps setting records.
The company reported results for its fiscal first quarter of 2027 (the period ended April 30, 2026) in late May, and the numbers were strong. So why does the stock keep falling?
The answer has little to do with the latest quarter and almost everything to do with a single fear: that artificial intelligence (AI) agents will erode the per-seat subscriptions that software companies like Salesforce have long sold. If a handful of agents can do the work of many employees, the worry goes, customers will eventually need fewer paid seats. In addition, there's an overarching fear that AI will increasingly handle what software companies do today.
Image source: Getty Images.
What the latest quarter actually showed The fiscal first-quarter results suggest that fear may be overblown, at least for now. Salesforce's revenue rose 13% year over year to $11.1 billion, though about 4.4 percentage points of that growth came from its recent Informatica acquisition. Stripping that out, organic growth was closer to the high-single-digit pace the company has run at for a while.
More telling, however, was what happened beneath the top line. Salesforce's AI and data products generated $3.4 billion in annual recurring revenue (ARR), up about 200% from a year earlier, and its Agentforce agentic AI offering alone crossed $1 billion in ARR after more than tripling. And rather than shrinking, the seat count in the company's largest products grew.
"Our largest applications, sales and service, saw year-over-year seat growth with humans and agents both expanding on the platform," said Salesforce chief operating and finance officer Robin Washington in the company's fiscal first-quarter earnings call.
That dynamic, with customers paying for more seats rather than fewer even as they adopt automation, sits at the center of the bull case. Salesforce is also leaning hard into new ways to charge for AI, including usage-based pricing and a recent $3.6 billion deal to acquire Fin, an AI customer service platform.
The profit picture looks healthy, too. Salesforce's non-GAAP (adjusted) operating margin reached a record 34.8%, and the company generated $6.6 billion in free cash flow during the quarter. Salesforce also returned $27.5 billion to shareholders, the bulk of it through a $25 billion accelerated share repurchase that was the largest in its history. That buyback shrank the share count by about 10% from a year earlier.
Is the sell-off a buying opportunity? Not everything in the quarter, however, was reassuring. Management pointed to ongoing weakness in the company's commerce and Tableau businesses. Salesforce has also cut staff repeatedly over the past year as it reorganizes around AI. Of course, this can be viewed as both a negative and a positive.
Additionally, investors will need patience. Management is guiding for organic revenue growth to reaccelerate in the back half of the fiscal year -- a recovery investors will have to wait to see.
Today's Change
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The real problem for the stock recently may have been valuation. Only now is the stock starting to look reasonably priced in light of the risks of technological change that software companies face. After the sell-off, Salesforce trades at a forward price-to-earnings ratio of about 12, using the midpoint of management's full-year adjusted earnings outlook. For a profitable business still growing revenue at a double-digit rate and expanding its margins while buying back stock aggressively, that is a fairly attractive multiple.
So, is it finally time to buy? I'm staying cautious. The numbers increasingly suggest AI is acting as a catalyst for Salesforce rather than a threat. But the broader uncertainty over how AI will reshape software isn't going away soon, and that overhang could keep a lid on the valuation premium investors are willing to pay for software stocks for years, even ones executing as well as this one.
Overall, buying a small, undersized position here could make sense for investors comfortable with the AI disruption overhang that could plague the stock for years. From there, I'd only build the position into a meaningful stake if the stock falls significantly further. Approaching the stock this way gives investors the flexibility to profit if things go well, and to potentially keep buying a good business at an even better price.
Oracle Corp (NYSE:ORCL, XETRA:ORC) has reduced its workforce by about 21,000 employees over the past year, citing the deployment of artificial intelligence technologies across its operations, according to its annual filing.
The software and cloud company employed approximately 141,000 full-time workers as of May 31, 2026, compared with about 162,000 a year earlier, a decline of nearly 13%.
"The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," Oracle said in the filing.
Oracle reported $1.8 billion in restructuring costs during the fiscal year, including severance payments and other exit expenses, up from $374 million in the prior year.
The company noted that workforce reductions can be disruptive and may lead to lower productivity, shortages of skilled employees in some roles, loss of institutional knowledge, and weaker employee morale and retention.
Oracle had informed employees in March that it planned to eliminate thousands of positions as it faced investor scrutiny over increased borrowing to support its AI infrastructure expansion. In January, the company announced plans to raise $50 billion through debt and equity financing.
Capital expenditures rose 162% in the latest fiscal year to $55.7 billion, while free cash flow was negative $23.7 billion.
Shares of Oracle traded down almost 3% at Tuesday’s opening bell, down about 13% so far this year.
Oracle vykázal ve 4. čtvrtletí AI backlog ve výši 638 miliard USD a růst cloudové infrastruktury o 93 % na 5,79 miliardy USD. Firma zároveň potvrdila tržby ve výši 90 miliard USD pro FY2027 a zvýšila výhled non-GAAP EPS na 8,05 USD.
Oracle (NYSE:ORCL | ORCL Price Prediction) at $175 looks compelling on the data. The stock has been pulled into the broader software compression trade even as its Q4 report revealed a $638 billion AI backlog that locks in years of forward revenue.
Oracle sells database software, enterprise applications such as Fusion and NetSuite, and Oracle Cloud Infrastructure (OCI), which has emerged as a serious hyperscaler challenger by winning large-scale AI training and inferencing contracts. The stock has compressed from a 52-week high of $343.01, dragged down with peers as investors worry that AI agents will erode traditional software subscriptions and that Oracle’s capital intensity will outrun its earnings power.
The $638 Billion Reason This Pullback Looks Like a Gift Q4 was a watershed. Cloud Infrastructure revenue grew 93% year over year to $5.79 billion, total cloud reached 52% of sales, and Remaining Performance Obligations jumped 363% to $638 billion, with $75 billion backed by customer-supplied or prepaid GPUs that reduce Oracle’s capital burden.
Management confirmed FY2027 revenue at $90 billion and raised non-GAAP EPS guidance to $8.05, with Q1 cloud growth guided to 58% to 64%. Mizuho reiterated Outperform with a $320 price target, calling the FY27 guide conservative.
The Capex Trap Bears Are Pricing In FY26 free cash flow came in at negative $23.69 billion against $55.66 billion of capex, and management plans to raise roughly $40 billion more in debt and equity in FY27 on top of $218.7 billion in total liabilities.
Oracle disclosed a 21,000 employee reduction, about 13% of the workforce, with $1.84 billion in severance costs. Software license revenue fell 2% in Q4, feeding the bear thesis that the legacy book is eroding faster than cloud can offset, with concentration risk in a handful of mega AI contracts.
Why Patient Capital Could Still Wait Here The hold case rests on visibility. Cash flow stays deeply negative through the buildout, and dilution from the planned $40 billion raise is a real overhang. A patient investor could wait for FCF to inflect or for proof that Q1 cloud growth lands inside the 58% to 64% guide before committing fresh capital.
The cost of that patience is missing the re-rating that typically follows when an RPO of this scale starts converting at scale.
What the Stock Actually Shows Shares trade at $175.07 against a consensus 12-month target of $252.64, implying meaningful upside if analysts are right. The breakdown across 43 covering analysts currently sits at:
Strong Buy: 6 Buy: 30 Hold: 6 Sell: 1 Oracle trades at roughly 23x forward earnings with FY27 EPS growth guided near 18%. ORCL is down 13.82% over the past year and 9.63% year to date, while the S&P 500 is up 25.26% and 9.16% over the same periods.
The Setup: Asymmetric Risk/Reward at $175 With a Floor Near $160 At $175, the risk/reward skews favorable. The path to appreciation is mechanical. A $638 billion structural backlog insulates earnings from macro multiple re-rating, and Q1 results landing inside the 27% to 29% revenue guide should force analysts to mark up FY28 estimates as the RPO conversion curve becomes visible.
Risk/reward at this price is asymmetric. With a historical value floor near $160, downside is roughly single digits while the consensus target implies a move back toward $252. Multicloud AI Database grew 404% in Q4, and AWS regions are scaling from eight to 22 by Q4, real evidence the backlog is becoming revenue.
What invalidates the thesis: a slip in cloud growth below the guided range, an unexpectedly dilutive equity raise, or a major AI customer renegotiating commitments. Watch FCF trajectory and Q1 cloud growth quarter by quarter.
Owning Oracle at $175 effectively means owning a hyperscaler-grade backlog at a software multiple while the rest of the market is busy selling the input costs.
Digital Realty kupuje pozemek u Kansas City za zhruba 475 milionů USD a získá tím lokalitu pro hyperscale datacentra o výkonu až 2 GW. Současně zvýší podíl v Teraco na 77 % a plánuje akvizici Columbia Capital.
Secures Two-Gigawatt Development Site in Kansas City Metro, and Plans to Increase Teraco Ownership and to Acquire Columbia Capital June 22, 2026 07:00 ET | Source: Digital Realty Trust, L.P.
AUSTIN, Texas, June 22, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, today announced a series of transactions that together bolster the company’s three core pillars of growth: (i) expansion of its hyperscale data center development capacity through the acquisition of a new powered land site in the Kansas City metro, (ii) growth of its colocation and connectivity portfolio through the purchase of certain minority shareholder stakes in Teraco, and (iii) further scaling of its Strategic Private Capital platform through the acquisition of Columbia Capital a leading investment firm in the digital infrastructure space.
Expansion into Kansas City Market
Digital Realty has acquired approximately 1,440 acres of land at Astra Enterprise Park, located near Kansas City to support hyperscale data center development for approximately $475 million(1) in cash and common units in its operating partnership. The acquisition marks an entry into a Top 30 U.S. metro with fast-growing technology sector exposure, ample utility and telecommunications infrastructure, and strong connectivity fundamentals. According to datacenterHawk, the Kansas City metro is the 7th largest data center market in the U.S., when including capacity that is currently under construction and in planning.
To support development of the site, Digital Realty has entered into an Energy Service Agreement with the local utility to provide 600 megawatts of utility power by early 2028, rising to two gigawatts at full delivery.
Increase in Teraco Ownership
As part of the continued investment in its colocation and connectivity platform, Digital Realty is increasing its ownership interest in Teraco, Africa’s leading data center platform, to 77% through the acquisition of shares from certain minority shareholders. Digital Realty will purchase the 16% stake for approximately $650 million(1), principally via the issuance of 3.4 million shares of common stock.
Teraco represents a key component of Digital Realty’s global colocation and connectivity footprint, with a portfolio of highly connected, network-dense campuses serving a growing base of customers across the EMEA region.
Acquisition of Columbia Capital
Digital Realty plans to acquire Columbia Capital for approximately $485 million(1), principally through the issuance of 2.3 million shares of common stock, with a lockup that releases over a multi-year period and an earnout that is subject to certain performance hurdles. Founded in 1989, Columbia Capital is focused on the communications, technology and digital infrastructure space, with over $9 billion in fund commitments from hundreds of investors, including sovereign wealth funds, pension funds, insurance companies, endowments and other institutional investors.
The acquisition will accelerate Digital Realty’s Strategic Private Capital platform and provides increased expertise and visibility into adjacent digital infrastructure sectors. Columbia Capital’s experienced investment team and established portfolio complement Digital Realty’s global operating platform and will strengthen investment capabilities to take advantage of the expanding AI infrastructure ecosystem.
Columbia Capital and Digital Realty have collaborated on multiple digital infrastructure projects. Columbia is a long-time co-investor in Teraco whose involvement predates Digital Realty’s acquisition of a majority interest in August 2022. The two companies have also partnered through Vela Infrastructure, a subsea cable landing station developer.
Executive Commentary
“These transactions support the continued momentum of Digital Realty’s three core pillars of growth. The purchase of land in the Kansas City metro enhances our ability to serve hyperscale customers’ near term requirements, while our increased stake in Teraco strengthens our position in Africa’s leading data center platform and supports the continued growth of our global colocation and connectivity business,” said Andy Power, President and Chief Executive Officer of Digital Realty. “Our history of collaboration with Columbia Capital reflects a shared long-term perspective while providing additional flexibility to support the scaling of both our hyperscale development pipeline and our private capital platform.”
"Taken together, these transactions are expected to further enhance Digital Realty's growth profile, while maintaining our balance sheet discipline and positioning the company for the continued investment opportunity we see ahead," said Matt Mercier, Chief Financial Officer of Digital Realty. These investments will be principally funded through the issuance of 6.3 million shares of common stock (and operating partnership units) at a weighted average price of $197.54 per share (or unit).
The Teraco and Columbia Capital transactions are expected to close in the second half of 2026 and remain subject to customary closing conditions.
Additional Resources
De Soto data center projectProject Sediba: Teraco's renewable energy milestoneThe PERE Podcast: Andy Power discusses the strategic importance of Private Capital to Digital Realty About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives customers access to the connected data communities that matter to them through a global footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. To learn more, visit digitalrealty.com or follow us on LinkedIn and X.
Safe Harbor Statement
This press release contains forward-looking statements based on current expectations, forecasts, and assumptions that involve risks and uncertainties which may cause actual results to differ materially from those described. These include statements related to the Fund, customer demand, expected benefits, use of proceeds, and the company’s strategy. For a description of these risks and uncertainties, please refer to the company’s filings with the U.S. Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
1 Based on closing stock price of $188.15/sh as of June 18, 2026.
Take-Two otevře 25. června předobjednávky GTA VI; Jefferies to vidí jako klíčový katalyzátor pro akcie před listopadovým vydáním. Akcie po zprávě vyskočily o více než 5 %.
Take-Two Interactive Software Inc (NASDAQ:TTWO) is set to open pre-orders for Grand Theft Auto VI on June 25, and Jefferies says the event is shaping up to be a meaningful catalyst for the stock ahead of the game's November 19 release.
The bank expects a new trailer to drop alongside the pre-order launch, but the bigger focus for investors will be pricing. Jefferies sees the base edition landing at either $70 or $80, with $100 considered unlikely.
The firm's base case is $80, given the pull of the GTA franchise, though it notes a $70 price would make premium edition upsells an easier sell.
Those premium editions may be the most telling part of the announcement. Their contents should give the first real clue about how Take-Two plans to monetize GTA VI Online, whether that means bundled subscription months, premium currency, a season pass, or some combination. Jefferies views this as arguably more important than the price tags themselves.
What investors probably won't get on June 25 is a launch date for GTA Online. The bank's base case has the online mode arriving in December, roughly a month after the main game, giving players time with the story before the online ecosystem opens up. Full details on in-game purchases are also expected to come later, closer to release.
PC players will need to be patient too. The November launch is console-only, with Jefferies penciling in April 2027 at the earliest for a PC release.
On the stock, Jefferies pointed to the Red Dead Redemption 2 launch cycle as a potential parallel, when Take-Two shares climbed around 20% from pre-orders to their peak before pulling back into launch. The firm sees the upcoming pre-order window and summer marketing push as the next major catalyst to watch.
Investors cheered the update, sending Take-Two’s shares over 5% higher on Thursday afternoon.
Bank of America zvýšila cílovou cenu Take-Two na 368 USD a čeká silnější monetizaci nové verze GTA Online. Pro fiskální rok 2028 zvedla odhad bookings na 2,2 miliardy USD.
Take-Two Interactive Software Inc (NASDAQ:TTWO) shares could see a stronger long-term monetization profile from the next iteration of Grand Theft Auto Online (GTAO), according to Bank of America, which raised its price objective on the stock and upgraded its forward bookings assumptions for the franchise.
Bank of America reiterated its 'Buy' rating on Take-Two and raised its price objective to $368, based on a 26x multiple applied to its FY28 earnings estimate. The firm characterized this as a peak valuation scenario, with potential for further upward revisions if GTAO monetization exceeds expectations.
The firm increased its financial year 2028 GTAO bookings forecast by roughly $900 million to $2.2 billion, lifting its assumed annual revenue per monthly active user (MAU) to $60 from $35 previously.
The revision reflects expectations that the next version of GTAO could monetize at nearly twice the rate of its predecessor, narrowing the gap with leading live-service titles such as Fortnite.
The analysts argued that GTAO currently under-monetizes relative to comparable franchises, and expect the next installment to close that disparity as its “pay-to-progress” structure encourages higher average player spending than Fortnite’s cosmetics-driven model. Bank of America also noted that Grand Theft Auto VI’s player base is likely to carry higher lifetime value than the broader free-to-play audience seen in other major live-service ecosystems.
At the high end of the estimate range, the firm pointed to monetization levels above $100 per MAU in heavily “pay-to-win” sports titles, suggesting additional upside if engagement trends skew more aggressively toward in-game spending.
Bank of America left its financial year 2027 estimates unchanged, citing a likely late-year ramp for GTAO’s contribution. It now forecasts financial year 2028 net bookings of $10.7 billion and earnings per share of $14.23.
Beyond revenue assumptions, the report highlighted structural improvements at Rockstar that could support stronger monetization. These include a more robust content pipeline, enhanced anti-cheat systems, and a substantially larger live-service team, expanded to more than 100 staff compared with roughly 10 at GTAO’s 2013 launch. The analysts believes that these changes address early limitations that previously constrained long-term engagement and spending.
The bank’s analysts also suggested that GTAO’s current iteration, which generates an estimated $400 million in annual bookings versus a peak of around $700 million in 2021, underscores the room for growth in a more modernized live-service framework.
Bank of America estimates that the next GTAO could support more than 40 million sustainable MAUs, potentially placing it among the largest live-service franchises globally, behind only Fortnite.
Take-Two shares traded up 2% at $244 on Tuesday afternoon.
Take-Two stanovila cenu „Grand Theft Auto VI“ na 79,99 USD a potvrdila vydání na 19. listopadu. Základní verze tak překoná dosavadní strop 69,99 USD u velkých her.
Grand Theft Auto The Trilogy by Take-Two Interactive Software Inc is seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights, opens new tab
June 24 (Reuters) - Take-Two Interactive Software (TTWO.O), opens new tab on Wednesday priced "Grand Theft Auto VI" at $79.99 and stuck to its previously announced November 19 release date, bringing the industry's most anticipated title closer to launch after multiple delays.
The price makes "GTA VI" one of the most expensive base versions of a top-tier game, pushing it above the $69.99 ceiling that blockbusters such as Sony's "Ghost of Yōtei" and Nintendo's "Legend of Zelda: Tears of the Kingdom" have held for years.
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The "Ultimate Edition" of the game will cost $99.99 and add exclusive vehicles, weapons and apparel woven into the story of Jason and Lucia, the protagonists of the game.
Shares of Take-Two rose nearly 3% in premarket trading.
Joost van Dreunen, games professor at NYU's Stern School of Business, said the pricing was unlikely to dent sales, calling "$80 a rounding error against the anticipation."
He said the price could set a new benchmark for blockbuster titles with few substitutes but was unlikely to apply to mid-tier publishers. "GTA VI doesn't lift all prices but widens the gap between the haves and the have-nots," he added.
Fans have been waiting for "GTA VI" for over a decade, and analysts expect it to be an instant hit with billions of dollars in sales within days due to the franchise's popularity and the strong track record of its creator, Rockstar Games.
The previous entry in the series, "Grand Theft Auto V", was released in 2013 and has sold around 230 million copies, making it one of the best-selling video games ever.
That makes "GTA VI" crucial not just for Take-Two but for the wider video-game market, as the franchise typically drives console sales and PC upgrades.
Take-Two said earlier this month "GTA VI" pre-orders will start on June 25. All pre-orders before November 20 include the Vintage Vice City Pack of retro in-game items, with digital buyers also getting a free month of GTA+, a membership that unlocks in-game perks and access to "GTA V" and other titles.
First unveiled in late 2023 with a trailer that now has nearly 300 million views on YouTube, the game features a "Bonnie and Clyde"-like duo blitzing their way through a fictional version of Miami, Florida, called "Vice City".
Reporting by Aditya Soni in Bengaluru; Editing by Leroy Leo and Maju Samuel
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Snowflake čelí rostoucí konkurenci Databricks, ale Jefferies vidí prostor pro oba díky silné poptávce po datech a infrastruktuře pro AI. Databricks má Snowflake překonat velikostí, zatímco Snowflake si drží vyšší marži volného cash flow kolem 23 %. Databricks má podle Jefferies v první polovině fiskálního roku 2027 překonat roční tempo tržeb 6,9 miliardy dolarů, zatímco Snowflake odhaduje na zhruba 5,5 miliardy dolarů s růstem o 32 % meziročně.
Snowflake Inc (NYSE:SNOW) remains well-positioned despite intensifying competition from Databricks, with Jefferies analysts writing that both companies are benefiting from growing enterprise demand for data and artificial intelligence infrastructure and have room to expand.
Jefferies noted that Databricks' annualized revenue run rate is on track to exceed $6.9 billion in the first half of fiscal 2027, representing about 65% year-over-year growth in its core business and roughly 80% growth including large language model monetization.
By comparison, the firm estimates Snowflake's revenue run rate at approximately $5.5 billion, growing 32% year over year.
The analysts wrote that Databricks is poised to surpass Snowflake in scale for the first time, though Snowflake maintains stronger profitability, generating free cash flow margins of around 23% while Databricks remains near breakeven.
Jefferies highlighted that Snowflake has accelerated growth over the past two quarters despite rising competition, delivering roughly four percentage points of product revenue acceleration in the first quarter of fiscal 2027 to 34% year-over-year growth.
The firm wrote that Snowflake's AI offerings, including CoCo and Snowflake CoWork, could drive additional monetization opportunities and increase consumption of its core data platform.
Databricks has also expanded its data warehousing business, with its SQL Warehouse product surpassing a $1.5 billion annualized revenue run rate. However, Jefferies wrote that Snowflake still has a materially larger data warehousing business and has significantly narrowed the technical gap over the past year, particularly in AI capabilities.
The analysts added that Databricks' Genie platform could help broaden AI adoption among business users by enabling employees to access and interact with enterprise data through integrations with applications such as Microsoft Teams, Slack and Google Drive.
Shares of Snowflake closed at about $235 on Wednesday, having gained about 7% so far this year.
UPS investuje 48 milionů USD do 27 teplotně řízených zařízení napříč Amerikou, Evropou a Asií. Firma tím posiluje logistiku pro rychle rostoucí zdravotnické zásilky.
United Parcel Service is investing $48 million in 27 temperature‑controlled facilities as the industry sees a boom in healthcare logistics, CNBC has learned exclusively.
The facilities, located across the Americas, Europe and Asia, are optimized for moving around shipments that need to be kept at certain temperatures. The company said the investment will help it stay ahead of a boom in medicines and pharmaceuticals — like some GLP-1s — that have to be kept at certain temperatures by improving speed and end-to-end chain of custody.
"Our global cross-dock facilities strengthen our end-to-end cold-chain capabilities to ensure critical treatments are delivered safely and reliably to patients around the world," said Kate Gutmann, UPS' president of international, healthcare and supply chain solutions. "This effort – and all of our work in healthcare logistics – extends from a deep understanding that we're doing more than moving packages."
The demand for temperature-sensitive biologics is projected to grow at an 8.3% compound annual growth rate through 2033 and reach a market value of roughly $39.1 billion, according to Growth Market Reports. Many new medicines are required to be stored at specific temperatures to maintain efficacy, UPS said, making healthcare logistics more crucial than before.
According to the World Health Organization, up to 50% of global vaccines are wasted every year, with a significant portion of that coming from cold-chain storage issues.
"These investments reflect our commitment to continue to align our leading end-to-end supply chain to protect innovative treatments and diagnostics, supporting better patient outcomes," UPS Healthcare President John Bolla said in a statement.
UPS' move comes as the industry overall has seen growing investments in the space, especially with the meteoric rise of GLP-1 drugs. Medicines like Novo Nordisk's Wegovy and Ozempic require strict refrigeration and temperature control during transit. A November KFF poll found that 1 in 8 Americans are taking GLP-1s.
UPS CEO Carol Tomé said on the company's first-quarter earnings call in April that healthcare remains one of the company's top priorities and biggest areas of growth.
"Our global healthcare portfolio has gained market share every year since 2021," she said on the call. "And in the first quarter of this year, we generated our first $3 billion healthcare revenue quarter ever, with all three of our segments delivering year-over-year revenue growth."
Tomé added that UPS is committed to continuing to "lean into that space in a meaningful way."
Costco ve 3. čtvrtletí FY26 zvýšila zisk na akcii (EPS) na 4,93 USD při tržbách 70,53 mld. USD, což překonalo odhady. Digitální srovnatelné tržby vzrostly o 21,5 % a návštěvnost e-commerce o 37 %.
Costco Wholesale (NASDAQ: COST | COST Price Prediction) trades near $985, a price that demands flawless execution into a tightening macro even as the best-in-class compounder narrative remains intact. Kevin Warsh’s first meeting as Fed Chair lands with sticky inflation keeping long yields elevated, and high-multiple stocks have already started bleeding multiple compression into premium consumer staples.
Costco runs a membership-warehouse model that turns fee income into low prices, with Kirkland Signature and Costco Logistics extending the moat. The flywheel produced $275.24B in FY25 revenue and $18.21 in EPS, with $13.34B in operating cash flow.
After climbing 14.74% YTD to $986.68, COST has given back 5.94% over the past month as the market reprices the multiple a slow-and-steady retailer deserves when 10-year yields refuse to budge.
The Flywheel Keeps Spinning Faster Than the Share Price Q3 FY26 delivered EPS of $4.93 on revenue of $70.53B, an 11.6% YoY jump beating consensus, with digitally-enabled comparable sales up 21.5% and e-commerce traffic up 37%. Membership fee income grew 10.7% to $1.37B, the worldwide renewal rate held at 89.7%, and executive members now drive 75.0% of net sales. Net income jumped 15.2%.
Management plans to reach roughly 940 warehouses by FY26 year-end. Quarterly earnings growth running at 45.5% YoY makes a forward P/E of 44 look less absurd in context. Analyst sentiment broadly agrees, with 22 of 37 analysts rating it Buy or Strong Buy.
A 49 P/E Meets a Fed That Cannot Cut Fast Enough Costco trades at a trailing P/E of 49, a forward P/E of 44, and 13 times book, with a PEG of 4.8. For a 3% net margin retailer, that pricing assumes years of uninterrupted execution. Vanguard’s 2026 outlook warns core inflation likely stays above 2.5%, leaving the Fed limited scope to cut below a 3.5% neutral rate. Sticky inflation plus elevated long yields compresses premium multiples.
COST trades below its 50-day moving average of $1,004.25 and only modestly above the 200-day at $957.56, with a 52-week high of $1,096.50 already in the rearview.
Great Business, Demanding Entry Price Nothing in the fundamentals justifies selling a compounder with 82.1M paid memberships and double-digit fee growth. The multiple does not justify chasing the stock into Warsh’s first meeting. A pullback into the low-$900s, or a broader market reset toward $830, would offer real margin of safety. Watch comp sales, membership growth (now running near 4.1%), and any dovish signal from the Fed.
Where the Numbers Leave Costco Today Costco currently trades at $986.68, up 14.74% YTD versus a 10.03% gain for the S&P 500, but down 5.94% over the past month. The consensus analyst target of $1,082.33 implies roughly 10% upside. Across 37 covering analysts:
Strong Buy: 3 Buy: 19 Hold: 13 Sell: 1 Strong Sell: 1 Valuation runs hot with EV/EBITDA at 29 and a 0.55% dividend yield, against a market cap of $434.4B.
At $985, Patience Has a Price Tag At $985, Costco sits in a tension zone. The business fires on every cylinder that matters, yet the entry price assumes the macro cooperates and the multiple holds, both of which look uncertain with Warsh inheriting a sticky inflation problem and the market already punishing high multiples.
The bull case strengthens if Costco pulls back toward $830 on broader multiple compression, or if comps reaccelerate above 10% adjusted while the Fed signals real cuts. The bear case requires a real crack in the 89.7% renewal rate or membership growth, which Q3 did not show. Until one of those breaks, the setup remains in stalemate.
The cost of patience is missing the drift to consensus. The cost of acting is paying 44 times forward earnings for a 3% margin retailer into a tightening cycle. That asymmetry explains why many investors are sitting on their hands at this price.
Costco ve 3. čtvrtletí fiskálního roku zvýšila srovnatelné tržby o 9,8 %, členské poplatky o 10,7 % a digitální prodeje o 21,5 %. Akcie přesto za měsíc klesly o 5,94 %.
Costco (NASDAQ:COST | COST Price Prediction) just posted its strongest comp sales quarter of the fiscal year and the market shrugged. Q3 FY26 comps came in at 9.8%, membership fees grew 10.7%, and digitally-enabled sales jumped 21.5%.
Yet shares have slipped 5.94% over the past month. That gap between operational momentum and price action is the kind of setup I pay attention to. Costco trades at $986.68. Can it reach $1,250 in 2027? Here is the path.
What’s Holding Costco Back Right Now The simple answer: valuation. Costco trades at roughly 49 times trailing earnings, and that multiple gets harder to defend when consumer confidence is cracking. University of Michigan sentiment dropped to 49.8 in April 2026, the lowest reading in the past year and approaching recessionary territory. Even a 0.87 beta does not protect a stock priced for perfection when the macro narrative turns.
Shares reflect that. Shares peaked near $1,048.95 on May 15 before pulling back. YTD is still respectable at +14.74%, but the 1-year return is just 0.8%. An EVP also sold 700 shares at $993 on April 1. These are simply reasons shares are stuck.
Wall Street Sees 9.7% Upside. Our Model Says 8.5% Consensus is constructive but cautious. The analyst target sits at $1,082.33, with 3 strong buys, 19 buys, 13 holds, 1 sell, and 1 strong sell. Bullish skew runs 59%. Citi resumed coverage of Costco with a Neutral rating and $1,020 price target.
Our base case lands at $1,070.32 with 90% confidence, with an optimistic case of $1,151.08 and a bear case of $976.48. My read: both Wall Street and our model are underweighting earnings acceleration. YoY earnings growth of 45.5% reads as a growth-stock figure attached to a recession-resistant business. That combination usually gets re-rated higher, not lower.
The Path to $1,250 Per Share Reaching $1,250 from today’s price of $986.68 would require a gain of 26.7%.
With forward EPS of $21.69, a price of $1,250 implies a forward P/E of 58x. Our base case of $1,070.32 already implies 50x, meaning the bold target requires roughly 8x of additional multiple expansion.
Is that crazy? Not given the inputs. The 247Factor adjustment of 1.075 is driven by strong earnings momentum and 59% bullish analyst sentiment.
The catalysts are real: digitally enabled comparable sales rose 21.1% in the four weeks ending May 31 while total comps grew 12.5%. Costco is also positioned to outperform Walmart as gas prices surge because its affluent membership base absorbs fuel inflation.
And CFO Gary Millerchip announced targeted Kirkland Signature price reductions in May, a margin-positive trade in disguise. The primary risk is a consumer sentiment collapse that derails membership renewals.
Where Costco Trades Today vs Its Earnings Power At $986.68 on forward EPS of $21.69, the stock trades around 45x forward earnings. Expensive on paper. Reasonable when you consider 89.7% worldwide renewal rates and 75% executive membership penetration.
Shares sit between a 52-week low of $841.69 and high of $1,096.50. Zoom out and the long term is striking: COST is up 649.43% over the last 10 years. That is the multiple-expansion engine in action.
Is $1,250 Realistic? Here’s My Take Reaching $1,250 requires a 26.7% gain and a re-rating to roughly 58x forward earnings. That is a stretch, but it is the kind of stretch this business has earned before.
Three things need to go right: earnings growth stays north of 13% per quarter, membership economics keep compounding, and the macro avoids an outright recession. What derails it is a sharp drop in renewal rates or a sentiment-driven multiple compression. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how Costco could reach $1,250 in 2027.
Key Takeaways Costco's membership model is strengthening through deeper engagement, not just member additions.Executive members rose 9.6% year over year to 41.2 million and accounted for 75% of sales.Membership fee income climbed 10.7% to $1.37B, with renewals strong in the U.S., Canada and globally. Costco Wholesale Corporation’s (COST - Free Report) membership model appears to be gaining strength not simply through member additions, but through deeper engagement. The latest quarter saw high renewal rates, rising executive membership penetration and solid membership income growth, suggesting member loyalty remains intact.
Membership fee income increased 10.7% year over year to $1,373 million during the third quarter of fiscal 2026. While part of the gain reflected the membership fee increase implemented in September 2024, management noted that membership income still grew 7%, excluding the fee increase and foreign exchange impacts, driven by member growth and executive membership upgrades.
The most notable development was the continued expansion of executive memberships. Executive members reached 41.2 million at quarter-end, up 9.6% from the prior year, far outpacing overall paid membership growth of 4.1%. The company also launched its executive membership program in China and reported stronger-than-expected early adoption. Executive members accounted for 75% of sales, underscoring their importance to the overall membership ecosystem.
Management emphasized that executive members typically shop more often and spend more than standard members, making this mix shift particularly meaningful for the overall membership ecosystem.
Renewal metrics also remained exceptionally strong. Costco reported a 92.2% renewal rate in the United States and Canada and an 89.7% renewal rate worldwide. Management highlighted that targeted digital communication and retention initiatives helped offset pressure from the growing mix of online sign-ups, which historically renew at lower rates.
Taken together, rising executive penetration, resilient renewals and sustained membership income growth indicate that Costco is not only retaining members effectively but also increasing the value it derives from each membership relationship.
Walmart & BJ’s Wholesale: Membership Momentum Remains StrongCostco is not the only retailer benefiting from a stronger membership ecosystem. Walmart Inc. (WMT - Free Report) continues to deepen engagement through Walmart+, with membership fee revenues rising 17.4% globally in the first quarter and Walmart+ recording a record level of net additions. Management noted that membership has become an increasingly important profit stream, with members spending significantly more than non-members and utilizing benefits such as fuel savings and faster delivery.
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) reported robust membership trends. Membership fee income increased 9.9% year over year to a record $132.4 million, supported by strong member acquisition, retention and higher-tier membership penetration. Management emphasized that higher-tier members remain more engaged, shop more frequently and generate greater lifetime value.
Like Costco, both Walmart and BJ’s Wholesale are demonstrating that a growing base of loyal, higher-value members can drive recurring revenues, stronger engagement and long-term sales growth.
What the Latest Metrics Say About CostcoCostco has seen its shares tumble 1.4% over the past three months against the industry’s growth of 2.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Costco's forward 12-month price-to-earnings ratio stands at 43.14, higher than the industry’s ratio of 31.26. However, it is trading below its 12-month median level of 46.55, indicating some moderation in valuation despite sustained investor confidence in the stock.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Costco’s current financial-year sales and earnings per share implies year-over-year growth of 9.4% and 13.3%, respectively. For the next fiscal year, the consensus estimate indicates a 7.8% rise in sales and 10.2% growth in earnings.
The consensus estimate for earnings per share for the current and next fiscal year has increased by 5 cents and 6 cents to $20.38 and $22.46, respectively, over the past 30 days.
Image Source: Zacks Investment Research
Costco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Costco ve 3. čtvrtletí fiskálního roku 2026 zvýšila tržby o 11,6 % a míra obnovování členství v USA a Kanadě dosáhla 92,2 %. Akcie ale i tak klesly o více než 4 % po poslední výsledkové zprávě.
Costco (COST +0.80%) continues to prove to the market that it's a consistent performer in uncertain macroeconomic times. During its fiscal 2026 third quarter (ended May 10), the company reported 11.6% year-over-year revenue growth. Perhaps even more impressive, its U.S. and Canada memberships had a renewal rate of 92.2%.
This didn't prevent the shares from falling. As of June 22, this retail stock trades more than 4% below its price prior to the last earnings report on May 28. Should investors buy the dip?
Image source: The Motley Fool.
Same-store sales were lifted by higher gas prices Costco opened four net new warehouses last quarter, which supports revenue growth. However, the bigger contributing factor was same-store sales (SSS), which were up 9.8%. The average ticket size rose 7.3%. But it was encouraging to also see foot traffic increase by 2.4%. Excluding the impact of higher gas prices, Costco's SSS still climbed a healthy 6.6%.
The current economic backdrop plays to Costco's benefit. Inflation is at a three-year high, so households are starting to care more about saving money in an effort to find greater value within their budgets.
"Our goal is to be the first to lower prices and the last to raise them," CEO Ron Vachris said on the Q3 2026 earnings call. Products in a range of categories saw price reductions last quarter.
That sort of customer value proposition might explain why the number of membership households grew by 4.1% year over year to 82.9 million. And the renewal rate in the U.S. and Canada was 92.2%, improving by 10 basis points sequentially from the previous quarter.
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It's hard to pinpoint why the market reacts the way it does Costco's Q3 financial results looked solid on the surface. Therefore, it can be difficult for investors to figure out why the market reacted the way it did, bidding the company's share price down.
While revenue exceeded analyst estimates, the business posted diluted earnings per share (EPS) that matched expectations. Investors might have wanted to see a meaningful bottom-line beat.
Whatever variables you believe pressured the stock price, it's still obvious that shares trade at an expensive valuation. Investors who want to buy Costco must be comfortable with a price-to-earnings ratio of 47.8. This is what's required to own a business whose diluted EPS is projected to grow at a compound annual rate of 11.1% between fiscal 2025 and fiscal 2028, according to consensus analyst estimates.
Costco's durability in any economic environment certainly deserves a premium. But even though it's trading 13% below its record, investors should stay away from the stock to avoid the risk of severely overpaying.
Moody’s spustila první sadu AI dovedností pro Microsoft 365 Copilot Cowork a další kompatibilní platformy. Nástroje mají z jednoho zadání zpracovat složité analytické úlohy opřené o ratingy, výzkum a risk intelligence.
Launching today on Microsoft 365 Copilot Cowork, with availability expanding across compatible AI platforms
NEW YORK--(BUSINESS WIRE)--Moody’s Corporation (NYSE: MCO) today announced the release of its first set of AI skills – purpose-built, platform-agnostic instruction kits that encode Moody’s analytical frameworks and connect AI agents to its decision-grade intelligence. Available across compatible AI platforms beginning with Microsoft 365 Copilot Cowork, Moody’s skills enable customers to execute complex analytical workflows through a single natural-language request, with outputs grounded in Moody’s proprietary ratings, research, and risk intelligence.
“Moody’s is among the first financial data providers to deliver a full library of skills on an open standard, and today’s launch is just the beginning,” said Cristina Pieretti, Head of Digital Content and Innovation at Moody’s. “AI platforms are becoming the interface for financial decision-making, and the next phase of adoption will be defined by execution. Skills are how we encode Moody’s expertise into that execution layer.”
Skills are emerging as the standard for how AI agents execute specialist work. By publishing its analytical frameworks as skills that run on the platforms where market participants already build and operate, Moody’s is embedding its decision-grade intelligence at the center of how financial analysis is executed across the industry.
Moody’s first wave of skills covers high-priority financial workflows where Moody’s expertise is most concentrated:
Earnings Call Summary – Summarizes earnings call transcripts, covering revenue trends, pricing dynamics, consumer health, tariff exposure, and more. Peer Analysis – Produces an investor-grade comparison across leverage, profitability, ESG, credit quality, and more. Public Information Book – Builds a comprehensive dossier on a single entity, spanning financials, governance, competitive landscape, and risk profile. Rating Pitch – Generates a structured pitch deck covering sector context, rating history, and peer positioning. Sector Analysis – Combines Moody’s proprietary research with live market intelligence to deliver a full sector-level outlook. Each skill encodes analytical steps and quality standards to produce outputs that are consistent, sourced, and defensible for high-stakes decision-making in regulated environments. A skill defines how the work is done; Moody's Model Context Protocol (MCP) servers connect it to the data it runs on. MCP is the open standard that lets an AI agent draw directly on Moody's ratings, research, and risk intelligence, so the outputs are grounded in proprietary data rather than general-purpose web content.
A skill teaches an AI agent how to perform a task to a defined standard, captured in a simple, shareable instruction file. Moody's skills are built on the open SKILL.md format, which originated with Anthropic and has since been adopted by platforms like OpenAI, Microsoft, Google, and Amazon. Because the standard is open, the institutional knowledge encoded in each skill is a durable, portable asset rather than a capability locked to one provider, built once and able to run on any compatible platform.
Moody's plans to expand its library of skills to include credit analysis, lead generation, third-party due diligence, and insurance underwriting – extending its analytical frameworks into more of the high-stakes workflows where financial professionals operate. Each new skill will follow the same open, platform-agnostic standard, ensuring the institutional knowledge remains a durable, portable asset across compatible AI platforms.
To learn more, visit https://www.moodys.com/web/en/us/creditview/blog/moodys-skills.html
About Moody’s Corporation
In a world shaped by increasingly interconnected risks, Moody's (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody's gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this document are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this document are made as of the date hereof, and Moody’s undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. Factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of Moody’s annual report on Form 10-K for the year ended December 31, 2025, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition.
First Solar v 1. čtvrtletí zvýšila tržby na 1,04 miliardy USD, meziročně o 24 %, a těží z poptávky po solární energii pro AI datová centra. Firma má také zajištěný backlog 47,9 GW.
First Solar (FSLR 5.30%) has been on an absolute roller coaster. It has more than tripled over the past five years, but that includes multiple 20% and 40% drops along the way.
Elon Musk has his eyes set on solar-powered AI data centers for SpaceX. Furthermore, the Solar Energy Industries Association released a report last year detailing how the U.S.'s AI leaders are investing billions of dollars into solar energy.
Using solar energy as an AI data center power source can put less strain on the electric grid, and First Solar fits nicely into that objective. A 2% year-to-date drop in the stock price suggests that not every investor sees this opportunity quite yet.
Image source: Getty Images.
First Solar has multi-year revenue visibility First-quarter results offered reasons for optimism, especially if First Solar continues to ride AI tailwinds. Net sales reached $1.04 billion, which was up by 24% year over year. The company cited an "increase in the volume of modules sold to third parties" as a major catalyst, which was fueled by AI demand.
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First Solar also has a contracted 47.9-gigawatt backlog, providing multiple years of high-growth revenue visibility. For instance, the company expects to sell 17.6 gigawatts at the projected 2026 midpoint and earn $5.05 billion. Megawatt rates vary by project, but the company said its 47.9 gigawatts of capacity equate to $14.4 billion in contracted backlog through 2030.
Record sales in India contributed to the results. The company sold approximately 1 gigawatt worth of energy to the country in Q1. First Solar also mentioned "substantially committed" U.S. production through 2028.
The valuation is extremely low First Solar currently has a 16.5 price-to-earnings (P/E) ratio and a 0.67 price/earnings-to-growth (PEG) ratio. Those valuations are shockingly low for a company that has achieved an annualized revenue growth rate of 25.8% over the past three years. High top-line growth has also come with rising profit margins, with net margins reaching 33% in Q1.
First Solar also has a much lower valuation than its peers. Enphase Energy trades at a 51.1 P/E ratio despite posting year-over-year revenue declines in recent quarters. Meanwhile, SolarEdge remains unprofitable, but has a projected forward P/E ratio of 208.
Demand for First Solar's utility-scale solar energy should continue to gain momentum amid the AI build-out. Not everyone will want to rely on the electric grid for power, and if Musk launches AI data centers into space, they will need solar panels. The current valuation offers a reasonable margin of safety for what can be a compelling long-term opportunity.
Marc Guberti has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends First Solar. The Motley Fool recommends Enphase Energy. The Motley Fool has a disclosure policy.
Evropská komise schválila Trodelvy od společnosti Gilead jako první léčbu první linie pro metastatický triple-negativní karcinom prsu u pacientek, které nejsou kandidátkami na inhibitory PD-1/PD-L1.
FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the European Commission (EC) has granted marketing authorization for Trodelvy® (sacituzumab govitecan-hziy) as monotherapy for the treatment of adult patients with unresectable or metastatic triple-negative breast cancer (TNBC) who have not received prior systemic therapy for metastatic disease and are not candidates for PD-1 or PD-L1 inhibitor therapy. Trodelvy is the first antibody-drug conjugate (ADC) to be approved in first-line metastatic TNBC in the European Union’s 27 member states, as well as Norway, Iceland and Liechtenstein.
“This approval brings a profound sense of hope to a community that has long been waiting for progress,” said Dr. Javier Cortes, Head of the International Breast Cancer Center, Madrid and Barcelona, Spain. “For women diagnosed with metastatic TNBC, particularly those who are younger, every second counts, and having an effective treatment option that can delay the progression of their disease is invaluable. This is the kind of meaningful advance our community needs.”
For many living with metastatic TNBC, the most aggressive form of breast cancer, first-line therapy may be their only line of treatment, creating an urgent need for effective treatment options to be used as early as possible.
“This approval represents a significant step forward in how we treat people with first-line metastatic TNBC in Europe,” said Mika Kakefuda Derynck, MD, Senior Vice President, Clinical Development, Oncology at Gilead Sciences. “We have long recognized the challenges that patients and clinicians face with this aggressive cancer, and we believe this approval will provide a much-needed new option for people with metastatic TNBC.”
The EC’s marketing authorization is based on data from the Phase 3 ASCENT-03 study which demonstrated a highly statistically significant and clinically meaningful progression-free survival for Trodelvy compared to standard of care chemotherapy as a first-line treatment. In ASCENT-03, Trodelvy demonstrated a 38% reduced risk of disease progression or death in patients who are not candidates for PD-1/PD-L1 inhibitors. The ASCENT-03 study utilized a patient-centered crossover design, which allowed patients in the chemotherapy arm to receive Trodelvy after their disease progressed. The EC’s approval, based on the strength of the PFS data, confirms the study's objective to demonstrate using Trodelvy earlier provides a clinical benefit over chemotherapy for metastatic TNBC patients.
Continued Global Regulatory Filings for Trodelvy in First-Line Metastatic TNBC
Gilead has submitted a supplemental filing to the European Medicines Agency for Trodelvy in combination with Keytruda® (pembrolizumab) for patients with PD-L1 positive unresectable locally advanced or metastatic TNBC, based on data from the Phase 3 ASCENT-04 study. This application is currently under review. If approved, Trodelvy has the potential to be a backbone treatment in 1L metastatic TNBC, across PD-L1 status in Europe. In the U.S., Gilead has also submitted supplemental filings to the Food and Drug Administration (FDA) for Trodelvy for the first-line treatment of adult patients with unresectable locally advanced or metastatic TNBC as a single agent for patients who are not candidates for PD-(L)1 inhibitor-based therapy, or in combination with Keytruda or Keytruda Qlex in patients whose tumors express PD-L1 (CPS ≥10) as determined by an FDA-authorized test.
KEYTRUDA® and KEYTRUDA QLEX™ are trademarks of Merck Sharp & Dohme LLC., a subsidiary of Merck & Co., Inc., Rahway, NJ, USA
About Triple-Negative Breast Cancer In Patients Who Are Not Candidates for PD-1/PD-L1 Inhibitors
TNBC is the most aggressive type of breast cancer and has historically been difficult to treat, accounting for approximately 15% of all breast cancers. TNBC disproportionally impacts younger, premenopausal, and Black and Hispanic women. TNBC cells do not have estrogen and progesterone receptors and have limited HER2 expression. Due to the nature of TNBC, treatment options are extremely limited compared with other breast cancer types. TNBC has a higher chance of recurrence and metastases than other breast cancer types. The average time to metastatic recurrence for TNBC is approximately 2.6 years compared with 5 years for other breast cancers, and the relative five-year survival rate is much lower. Among women with metastatic TNBC, the five-year survival rate is 12%, compared with 28% for those with other types of mBC.
About Trodelvy
Trodelvy (sacituzumab govitecan-hziy) is a Trop-2-directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and lung cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the tumor microenvironment through a bystander effect.
Outside of Europe, Gilead has submitted supplemental applications to the U.S. Food and Drug Administration (FDA) for approval of Trodelvy based on the ASCENT-03 and ASCENT-04 studies.
Healthcare professionals have substantial clinical experience with Trodelvy, with more than 75,000 breast cancer patients treated since 2020. In addition to its first-line indication approval, Trodelvy is currently approved in more than 60 countries for patients with second-line or later mTNBC and in over 50 countries for certain patients with pre-treated HR+/HER2- metastatic breast cancer. It is the only ADC with four positive Phase 3 trials in HER2-negative metastatic breast cancer and the only Trop-2-directed ADC to demonstrate a meaningful overall survival benefit in two distinct types of metastatic breast cancer.
Trodelvy is currently being evaluated in multiple ongoing Phase 3 trials across different tumor types, including in small cell lung cancer and gynecologic cancers, where previous proof-of-concept studies have demonstrated clinical activity.
U.S. Indications for Trodelvy
TRODELVY® (sacituzumab govitecan-hziy) is a Trop-2-directed antibody and topoisomerase inhibitor conjugate indicated for the treatment of adult patients with:
Unresectable locally advanced or metastatic triple-negative breast cancer (mTNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. Unresectable locally advanced or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting. U.S. Important safety information FOR TRODELVY
BOXED WARNING: NEUTROPENIA AND DIARRHEA
TRODELVY can cause severe, life-threatening, or fatal neutropenia. Withhold TRODELVY for absolute neutrophil count below 1500/mm3 or neutropenic fever. Monitor blood cell counts periodically during treatment. Primary prophylaxis with G-CSF is recommended for all patients at increased risk of febrile neutropenia. Initiate anti-infective treatment in patients with febrile neutropenia without delay. TRODELVY can cause severe diarrhea. Monitor patients with diarrhea and give fluid and electrolytes as needed. At the onset of diarrhea, evaluate for infectious causes and, if negative, promptly initiate loperamide. If severe diarrhea occurs, withhold TRODELVY until resolved to ≤ Grade 1 and reduce subsequent doses. CONTRAINDICATIONS
Severe hypersensitivity reaction to TRODELVY. WARNINGS AND PRECAUTIONS
Neutropenia: Severe, life-threatening, or fatal neutropenia can occur as early as the first cycle of treatment and may require dose modification. Neutropenia occurred in 64% of patients treated with TRODELVY. Grade 3-4 neutropenia occurred in 49% of patients. Febrile neutropenia occurred in 6%. Neutropenic colitis occurred in 1.4%. Primary prophylaxis with G-CSF is recommended starting in the first cycle of treatment in all patients at increased risk of febrile neutropenia, including older patients, patients with previous neutropenia, poor performance status, organ dysfunction, or multiple comorbidities. Monitor absolute neutrophil count (ANC) during treatment. Withhold TRODELVY for ANC below 1500/mm3 on Day 1 of any cycle or below 1000/mm3 on Day 8 of any cycle. Withhold TRODELVY for neutropenic fever. Treat neutropenia with G-CSF and administer prophylaxis in subsequent cycles as clinically indicated or indicated in Table 2 of USPI.
Diarrhea: Diarrhea occurred in 64% of all patients treated with TRODELVY. Grade 3-4 diarrhea occurred in 11% of patients. One patient had intestinal perforation following diarrhea. Diarrhea that led to dehydration and subsequent acute kidney injury occurred in 0.7% of all patients. Withhold TRODELVY for Grade 3-4 diarrhea and resume when resolved to ≤ Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments.
Hypersensitivity and Infusion-Related Reactions: TRODELVY can cause serious hypersensitivity reactions including life-threatening anaphylactic reactions. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 35% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of TRODELVY was 0.2%. The incidence of anaphylactic reactions was 0.2%. Pre-infusion medication is recommended. Have medications and emergency equipment to treat such reactions available for immediate use. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Permanently discontinue TRODELVY for Grade 4 infusion-related reactions.
Nausea and Vomiting: TRODELVY is emetogenic and can cause severe nausea and vomiting. Nausea occurred in 64% of all patients treated with TRODELVY and Grade 3-4 nausea occurred in 3% of these patients. Vomiting occurred in 35% of patients and Grade 3-4 vomiting occurred in 2% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold TRODELVY doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤ 1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting.
Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with TRODELVY. The incidence of Grade 3-4 neutropenia was 58% in patients homozygous for the UGT1A1*28, 49% in patients heterozygous for the UGT1A1*28 allele, and 43% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 21% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 9% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue TRODELVY based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function.
Embryo-Fetal Toxicity: Based on its mechanism of action, TRODELVY can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. TRODELVY contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with TRODELVY and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with TRODELVY and for 3 months after the last dose.
ADVERSE REACTIONS
In the pooled safety population, the most common (≥ 25%) adverse reactions including laboratory abnormalities were decreased leukocyte count (84%), decreased neutrophil count (75%), decreased hemoglobin (69%), diarrhea (64%), nausea (64%), decreased lymphocyte count (63%), fatigue (51%), alopecia (45%), constipation (37%), increased glucose (37%), decreased albumin (35%), vomiting (35%), decreased appetite (30%), decreased creatinine clearance (28%), increased alkaline phosphatase (28%), decreased magnesium (27%), decreased potassium (26%), and decreased sodium (26%).
In the ASCENT study (locally advanced or metastatic triple-negative breast cancer), the most common adverse reactions (incidence ≥25%) were fatigue, diarrhea, nausea, alopecia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes.
In the TROPiCS-02 study (locally advanced or metastatic HR-positive, HER2-negative breast cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, alopecia, and constipation. The most frequent serious adverse reactions (SAR) (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). SAR were reported in 28% of patients, and 6% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes.
DRUG INTERACTIONS
UGT1A1 Inhibitors: Concomitant administration of TRODELVY with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with TRODELVY.
UGT1A1 Inducers: Exposure to SN-38 may be reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with TRODELVY.
Please see full Prescribing Information, including BOXED WARNING.
About Gilead and Kite Oncology
Gilead and Kite Oncology are working to transform how cancer is treated. We are innovating with next-generation therapies, combinations and technologies to deliver improved outcomes for people with cancer. We are purposefully building our oncology portfolio and pipeline to address the greatest gaps in care. From antibody-drug conjugate technologies and small molecules to cell therapy-based approaches, we are creating new possibilities for people with cancer.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer and inflammation. In 2025, Gilead announced a planned $32 billion investment to further strengthen its U.S. footprint to power the next era of discovery, job creation and public health preparedness – while continuing to invest globally to ensure patients everywhere benefit from its scientific innovation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, Calif.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to initiate, progress or complete clinical trials or studies within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing and additional clinical trials or studies, including those involving Trodelvy; uncertainties relating to regulatory applications and related filing and approval timelines, including such as the pending applications for Trodelvy in 1L mTNBC and potential applications for programs and/or indications currently under evaluation, and the risk that any regulatory approvals, if granted, may be subject to significant limitations on use or subject to withdrawal or other adverse actions by the applicable regulatory authority; the possibility that Gilead may make a strategic decision to discontinue development of these programs and, as a result, these programs may never be successfully commercialized for the indications currently under evaluation; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.
Trodelvy, Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies.
U.S. Prescribing Information for Trodelvy, including BOXED WARNING, is available at www.gilead.com.
For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on X/Twitter (@Gilead Sciences) and LinkedIn (@Gilead-Sciences).
AbbVie koupí Apogee za zhruba 10,9 mld. USD a získá kandidáta zumilokibart ve fázi III pro léčbu ekzému. Dohoda rozšiřuje také záběr do astmatu, COPD a nosních polypů.
Key Takeaways AbbVie will acquire Apogee for about $10.9B, adding phase III-ready eczema candidate zumilokibart.ABBV sees growth beyond Skyrizi and Rinvoq through new immunology and respiratory assets.APG273 expands AbbVie into asthma, COPD and nasal polyps, adding a potential growth platform. Shares of AbbVie (ABBV - Free Report) rose more than 6% on Monday after the company announced that it entered into a definitive agreement to acquire clinical-stage biotech Apogee Therapeutics (APGE - Free Report) for $135.11 per share, valuing the deal at about $10.9 billion. Shares of APGE also reached a 52-week high post this announcement.
The acquisition further strengthens AbbVie's dominant immunology franchise and represents another strategic step toward extending growth well into the next decade as blockbuster products Skyrizi and Rinvoq mature.
The centerpiece of the deal is Apogee's lead candidate, zumilokibart (APG777), a phase III-ready, long-acting anti-IL-13 monoclonal antibody being developed for atopic dermatitis (AD), commonly known as eczema. Earlier this year, APGE reported encouraging data from mid-stage studies highlighting the drug’s sustained efficacy with both three- and six-month maintenance dosing regimens, significantly reducing injection frequency compared with currently available biologics.
Following the acquisition, AbbVie plans to explore zumilokibart’s potential across additional IL-13-driven diseases, including prurigo nodularis, chronic spontaneous urticaria, eosinophilic esophagitis and chronic pruritus of unknown origin.
The deal also adds APG273, a fixed-dose combination candidate comprising zumilokibart and an anti-TSLP antibody, which the company plans to develop for asthma, COPD and chronic rhinosinusitis with nasal polyps.
The transaction, unanimously approved by the boards of both companies, is expected to close in the third quarter. While AbbVie expects the acquisition to become earnings accretive beginning in 2032, it anticipates the deal will dilute adjusted EPS by approximately 14 cents in 2026 and 46 cents in 2027 due to financing and development costs.
Notably, the Financial Times reported on the deal just days before the official announcement.
ABBV Stock PerformanceYear to date, the company’s shares have gained nearly 1% compared with the industry’s 3% growth.
Image Source: Zacks Investment Research
How Does AbbVie Benefit From the APGE BuyoutThe intent behind this acquisition is clear — AbbVie is preparing for a future beyond Skyrizi and Rinvoq by building new growth platforms that can sustain performance well into the 2030s.
A key attraction is the large and rapidly expanding AD market. During the investor call, management highlighted that biologic penetration in eczema remains below 10% despite annual growth exceeding 15%. AbbVie also noted that the moderate-to-severe AD market is roughly two to two-and-a-half times larger than psoriasis, leaving substantial room for future expansion.
AbbVie also expressed confidence in competing against market leader Dupixent, which is jointly marketed by Sanofi (SNY - Free Report) and Regeneron (REGN - Free Report) . Management believes zumilokibart could offer a differentiated profile by combining Dupixent-like efficacy with significantly improved convenience through less frequent dosing. ABBV also said it does not need to replicate the SNY/REGN drug’s entire label before gaining meaningful market share, citing its established commercial footprint in immunology and the large, underpenetrated nature of the AD market.
Some analysts on the call questioned whether zumilokibart could eventually cannibalize sales of Rinvoq. However, management pushed back against that concern, saying the company intends to replicate a "one-two punch" strategy it has successfully deployed in other immunology indications.
Under this approach, zumilokibart would be positioned as a preferred earlier-line biologic option, while Rinvoq would continue to serve patients requiring later-line treatment or those inadequately controlled on biologics. ABBV noted that this commercial strategy has already worked well in indications such as inflammatory bowel disease (IBD) and psoriatic arthritis.
Beyond dermatology, the acquisition also gives AbbVie a strategic entry point into respiratory diseases. During the call, management said the company had a stated goal of expanding into respiratory diseases and viewed asthma and COPD as large markets with significant unmet need. Through APG273, AbbVie plans to establish a presence in asthma, COPD and chronic rhinosinusitis with nasal polyps, creating another potential long-term growth driver.
ABBV’s Zacks RankAbbVie currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SSR Mining oznámila další zpětný odkup akcií za 500 milionů USD a obnovuje dividendu. Firma má po silném 1. čtvrtletí 600 milionů USD v hotovosti a 211 milionů USD volného peněžního toku.
Shares of SSR Mining (SSRM 4.75%) are building on a massive pop that started last week. The gold stock jumped 5.4% higher as of 1:45 p.m. ET Wednesday, and is up 36% in just one week, as of this writing.
The miner is about to get a windfall from an asset sale, and it has announced something that should make its shareholders happy. Gold, meanwhile, is trending higher.
Image source: Getty Images.
Why are investors buying SSR Mining stock? SSR Mining has made the most of the surge in gold prices. It recently delivered a blowout first quarter, ending it with $600 million in cash, low debt, and $211 million in free cash flow.
After already burning through $300 million to buy back its own stock, the company just announced it's dropping another $500 million on stock buybacks.
That's not all: The gold miner is also reinstating its dividend.
I fully expected SSR Mining to resume share buybacks and dividends. It suspended dividends after a fatal accident at its Copler mine in Turkey in 2024, but now has a firm deal to sell that unproductive mine for $1.5 billion before the end of the third quarter. A good portion of that money is going to go back to shareholders.
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SSR Mining stock could fall if this happens, but should you worry? Although $0.03 per share every quarter is a modest payout, the symbolism is huge. A dividend reinstatement and accelerated share buybacks reveal how confident management is about the company's prospects.
And why not? SSR Mining has rarely looked this strong financially. Dumping Copler removes a major overhang, leaving it a much leaner company.
Meanwhile, macro tailwinds are doing their part. Gold has picked up momentum after a precipitous fall. The yellow metal bounced back over $4,300 per ounce today after dropping to a six-month low and almost hitting $4,000 per ounce on June 10. Investors expect a U.S.-Iran peace agreement to help restore oil flows and cool off inflation and interest rate concerns.
Investors, however, should remember that the peace agreement hasn't been finalized. If it falls through, gold could easily slide back.
That, however, shouldn't hurt SSR Mining much unless gold absolutely craters. SSR Mining is in a fantastic spot, using its cash pile to reward shareholders – and that is exactly what investors should focus on.
Dollar General v 1. čtvrtletí zvýšil hrubou marži na 31,6 % a provozní marži na 5,9 %. Provozní zisk vzrostl o 10,8 % díky nižším ztrátám a lepšímu řízení zásob.
Key Takeaways Dollar General's Q1 gross margin rose 65 basis points to 31.6% on operational gains.DG benefited from higher markups, lower shrink and reduced damages despite cost pressures.Operating margin expanded 40 basis points to 5.9%, while operating profit rose 10.8%. Dollar General Corporation’s (DG - Free Report) first-quarter fiscal 2026 results indicate that its margin recovery efforts are gaining momentum. While sales growth remained steady, the more notable development was the continued expansion in profitability, driven by multiple operational initiatives rather than top-line acceleration alone.
Gross margin improved 65 basis points year over year to 31.6%, reflecting benefits from higher inventory markups, lower shrink and reduced inventory damages. These gains more than offset increased markdown activity and higher transportation costs. Management highlighted that shrink mitigation remained a significant contributor, delivering a 28-basis-point reduction versus last year despite already lapping a 61-basis-point improvement in the prior-year quarter.
The improvement was not limited to one area. Dollar General pointed to stronger category management, better inventory controls and lower damages as additional drivers of margin expansion. Management said pricing was not a meaningful contributor to first-quarter markup gains, suggesting the increase stemmed primarily from operational execution rather than broad-based price increases.
The gross margin improvement flowed through to operating results. Operating margin expanded 40 basis points to 5.9%, while operating profit climbed 10.8% year over year. This performance came despite higher-than-anticipated fuel costs, underscoring the strength of the company’s internal margin initiatives.
Management also expressed confidence that margin drivers such as shrink reduction, damage improvement, supply-chain productivity, category management and DG Media Network growth still have room to contribute going forward. The first quarter, therefore, reinforced that Dollar General’s margin expansion story is being supported by a broader and more durable set of operational levers.
How Dollar General Compares With Walmart and TargetWalmart Inc. (WMT - Free Report) reported a 6-basis-point increase in the consolidated gross profit rate to 24.3%, supported by favorable merchandise and business mix, including growth in higher-margin advertising operations. At the U.S. segment level, Walmart delivered a 29-basis-point gross margin jump, benefiting from inventory management, digital advertising growth and improved category mix. Management also highlighted that general merchandise contributed favorably to gross margin expansion for the first time in 18 quarters, underscoring the improving profitability profile at Walmart.
Meanwhile, Target Corporation (TGT - Free Report) posted a first-quarter gross margin rate of 29%, up from 28.2% a year ago. The improvement was driven by lower markdown rates, stronger advertising and other non-merchandise revenue streams, and better productivity across supply chain facilities. Target also expanded its adjusted operating margin rate to 4.5% from 3.7% last year, reflecting the benefits of improved merchandise profitability. While Target continues to invest in labor, training and marketing, its latest results indicate that operational improvements are helping offset these costs.
What the Latest Metrics Say About Dollar GeneralDollar General has seen its shares tumble 10.2% over the past three months against the industry’s rise of 4.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, Dollar General's forward 12-month price-to-earnings ratio stands at 14.97, lower than the industry’s ratio of 32.05. However, it is trading below its 12-month median level of 17.29.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Dollar General’s current financial-year sales and earnings per share implies year-over-year growth of 3.9% and 7.3%, respectively. For the next fiscal year, the consensus estimate indicates a 4.1% rise in sales and 8.8% growth in earnings.
Image Source: Zacks Investment Research
Dollar General currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Palantir uzavřel partnerství se Zeta Global na vývoji jednotné datové a AI infrastruktury pro marketing. Wedbush to bere jako další potvrzení adopce AI v podnicích.
Palantir Technologies Inc (NYSE:PLTR) has entered into a partnership with Zeta Global aimed at developing a unified data and artificial intelligence infrastructure for marketing applications, a move Wedbush analysts described as another validation point for enterprise AI adoption.
The partnership combines Palantir's Foundry platform with Zeta's Data Cloud and Athena intelligence layer to support data-driven marketing decisions and operational execution.
Under the agreement, Zeta's Data Cloud will be rearchitected on Foundry, allowing enterprise customers to connect governed data with real-time decision-making capabilities.
According to Wedbush, the collaboration seeks to establish a new framework for "agentic marketing," where AI systems can automate and optimize business decisions while maintaining security, governance and compliance standards.
The analysts highlighted Palantir's Ontology technology as a key component of the partnership. Ontology creates a digital representation of an organization's operations by integrating business data and processes, enabling AI applications and workflows to operate within a governed environment.
Wedbush noted that Ontology serves as an intelligence layer that translates raw enterprise data into practical AI use cases and supports the deployment of AI agents and automated decision-making systems.
The firm wrote that marketing has become an important focus area for companies investing in AI technologies as businesses seek tools capable of processing trusted data in real time to improve customer acquisition, retention and engagement.
Zeta operates an AI-powered marketing cloud used by enterprises globally and leverages large volumes of consumer data signals to support marketing activities. Wedbush noted that the partnership is expected to generate more than $100 million in revenue for Zeta over several years.
The analysts believe that the agreement reinforces Palantir's position within the enterprise AI market and demonstrates growing demand for platforms that connect operational and customer intelligence.
Wedbush maintained its ‘Outperform’ rating on Palantir shares and reiterated its $230 price target, which implies significant upside from current levels of about $116.
Fox kupuje Roku za 160 USD na akcii a míří na zhruba 400 milionů USD ročních úspor. Transakce má Foxu dát distribuční platformu místo drahého budování vlastní streamovací služby.
Rich Greenfield of LightShed Partners just framed the most consequential strategic pivot in legacy media in a decade. On CNBC, the analyst argued that Fox (NASDAQ:FOXA | FOXA Price Prediction) is doing something none of its peers had the nerve to attempt: skipping the streaming arms race entirely and buying the toll booth instead.
The deal: Fox is acquiring Roku (NASDAQ:ROKU) at $160 per share, in a $96 cash plus 0.9693 Fox Class A share structure, with Fox shareholders owning 73% of the combined company and a targeted close in the first half of calendar 2027. Fox is acquiring Roku for $160 per share, and management is targeting roughly $400 million in run-rate cost synergies with free cash flow accretion by the second full year after closing.
Greenfield’s Thesis: Buy the Gatekeeper, Don’t Build Another Streamer Greenfield’s framing on CNBC was direct. “Fox is not going to go out and build a streaming service like everybody else and lose billions of dollars. We’re going to go out and buy the streaming gatekeeper where everybody else needs access to,” he said.
The strategic logic rests on a single data point. Roku software powers approximately 44-45% of time spent streaming in the US, putting it well ahead of Fire TV, Samsung, LG, and Google in the TV operating system race. As Greenfield put it, “The by far largest player in streaming, what we call the TV operating system… Roku has by far the largest player market share wise.”
That distribution position gives the deal real teeth. “Anybody who wants to have a streaming service has to play ball with Roku, and it’s given their distribution, as we’ve seen, it’s very hard to not do a deal with Roku,” Greenfield said. Even Amazon (Nasdaq: AMZN) signed a major partnership deal with Roku last year, announced at Cannes.
Other streamers could feel the pinch as well. Netflix (Nasdaq: NFLX) stock has stalled over the past year as concerns about competition from AI and its failed acquisition of Paramount have weighed on the stock. With Fox making a large move for the platform that much of Netflix’s access to TVs runs through, it now faces more pressure from rivals that are growing thanks to consolidation across the media space.
Why Lachlan Murdoch Needed This Fox has been the cleanest broadcast-and-cable story in legacy media, anchored by Fox News and Fox Sports. The problem: as the linear bundle erodes, the post-linear question has gone unanswered. “This gives Fox a strategic future they didn’t have. What happens after linear tv. You’ve now answered that question,” Greenfield said.
Lachlan Murdoch’s playbook prior to this deal was disciplined capital return and live sports leadership. Fox’s Q3 FY26 earnings beat by 36.35%, with adjusted EPS of $1.32 versus $0.97 expected and revenue of $3.99 billion, per the company’s May 11, 2026 release. The board had already expanded the buyback authorization to $12 billion in August 2025 and executed a $1.5 billion accelerated repurchase last fall. You can read the full Q3 release on the SEC filing.
On the most recent call, Murdoch flagged the “continued strength at our leading free streaming service, Tubi” and the FIFA Men’s World Cup broadcast across June and July. The Roku deal stacks an operating-system layer underneath all of it.
The Market Is Skeptical. Greenfield Sees Opportunity. The tape has not embraced the deal yet. Fox shares were down following the deal and have now slid 24.7% year to date through June 15, closing at $54.76, with Reuters noting Fox shares fell on dilution concerns from the deal structure. Roku, meanwhile, is now up 29.87% year to date and 89.36% over the past year.
Valuation context matters. Fox trades at a trailing PE of 14 and a forward PE of 10, with analyst target price of $73.94. Roku trades at a trailing PE of 104 and a forward PE of 62, with an analyst target of $148.07. Fox is using a low-multiple equity and cash to buy a high-multiple platform asset, which explains the dilution headline and the opportunity if synergies land.
Why a Competing Bid Looks Unlikely One reason Greenfield is confident the deal closes: Anthony Wood owns about 15% of Roku, is joining the Fox board, and will become a Fox employee. Wood reportedly chose Fox over other potential suitors, including Comcast, aligning with Murdoch’s long-term vision. Wood has been systematically converting Class B voting shares into Class A shares throughout April, May, and June 2026, including a 75,000-share conversion on May 11, consistent with prepping for a new governance structure.
What to Watch Next Greenfield’s closing line articulates the bull case cleanly: “This is really zigging where everybody else in the industry is zagging. This is a really interesting strategic move by Fox.” Disney, Warner Bros. Discovery, and Paramount spent the last five years burning cash building direct-to-consumer streamers. Fox is buying the distribution layer they all need.
For investors, the next twelve months come down to three variables: regulatory review timing into the targeted 2027 close, whether the $400 million synergy target proves conservative once Tubi and Roku’s ad stack combine, and whether Roku’s 100+ million household footprint can monetize Fox Sports and Fox News content at a higher rate than today’s licensing economics. If Greenfield is right, this resets the legacy media playbook.
Legacy media faces a structural crisis that cannot be solved by simply greenlighting better television shows. Owning premium content means very little if a network does not control how that content physically reaches viewers. Fox Corporation NASDAQ: FOX just acknowledged this harsh reality with a $22 billion cash-and-stock deal to acquire Roku Inc. NASDAQ: ROKU.
FOX Today
$44.55 -0.38 (-0.85%)
As of 06/23/2026 04:00 PM Eastern
52-Week Range$44.17▼
$68.18Dividend Yield1.26%
P/E Ratio11.75
Price Target$75.00
The headline numbers are aggressive, and the immediate market reaction reflects anxiety over the immense financial leverage required to close this deal. Look past the initial shock, though, and a clear survival strategy emerges. By taking ownership of the dominant connected-TV operating system, Fox Corporation transforms from a vulnerable content supplier into a powerful toll-collecting gatekeeper.
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Traditional broadcasters have spent the last decade suffering from margin compression as cable subscriptions have dwindled and affiliate fees have dried up. Transitioning to streaming was supposed to be a life raft, but networks quickly found themselves paying massive distribution cuts to third-party hardware providers just to access viewers. This acquisition signals capitulation to a new industry rule. Content alone cannot survive without distribution control.
Swallowing the Debt to Secure the FutureThe financial architecture of this acquisition requires Fox Corporation to stretch its balance sheet to the absolute limit. The company is executing the buyout at $160 per share, using a 60/40 cash-and-stock split, with $96 in cash and 0.9693 shares of Fox Class A NASDAQ: FOXA common stock per Roku share. To fund the enterprise value, Fox Corporation is securing up to $12 billion in bridge financing and absorbing $8.3 billion in new debt.
When Fox, with a $23 billion market capitalization, purchases a target valued at $22 billion, FOX shareholders are forced to absorb significant equity dilution. The market reaction was swift and punishing. Fox Corporation shares collapsed 17% on heavy volume following the announcement. Institutional investors immediately repriced Fox to account for a post-deal net leverage ratio of 2.8x trailing 12-month EBITDA.
Fox Corporation (FOX) Price Chart for Wednesday, June, 24, 2026
Valuation friction also plays a major role in the sell-off. Fox trades as a mature value play with a price-to-earnings ratio of 14, while Roku trades purely on growth metrics with a towering price-to-earnings ratio of 105. Fusing a legacy cash-flow generator with a high-multiple growth asset creates a complex valuation model that institutional bases often reject in the short term.
Corporate insiders at Roku clearly anticipated this valuation ceiling. Key executives executed a concentrated wave of share liquidations just before the merger announcement. CEO Anthony Wood sold 18,000 shares on June 12, 2026, followed by significant sales from Director Mai Fyfield on June 13, 2026. The strategic timing indicates Roku executives aggressively locked in peak valuations before the cash-and-stock conversion was finalized.
Despite the near-term pain for Fox Corporation shareholders, the debt load is a highly calculated capital expenditure. Management projects $400 million in run-rate cost savings and models the transaction to be accretive to free cash flow per share by the second full year following the anticipated 2027 close. Paying a premium to secure a 100-million-household hardware ecosystem is the cost of permanently escaping the decay of linear television.
Forging the Ultimate Streaming MonopolyFox Corporation already controls Tubi, a rapidly expanding platform in the free ad-supported streaming television sector. Integrating Tubi with The Roku Channel creates an unprecedented digital advertising inventory pool. Management plans to keep the two platforms operating as separate consumer-facing applications, a smart operational move that exploits a minimal 33% audience overlap.
The true economic value is unlocked behind the screen. By merging datasets and ad-tech infrastructure, Fox Corporation captures a dominant share of the free streaming market across global endpoints. Owning the hardware layer allows Fox to weaponize the user interface. When a viewer powers on a Roku television, Fox can dictate the visual real estate. The operating system can be programmed to natively push Fox Sports, Fox News, and Tubi content before competing applications load.
This prioritization guarantees viewership for internal Fox Corporation properties and drastically reduces the customer acquisition costs that plague standalone streaming services. A unified data ecosystem also allows Fox Corporation to track consumer behavior from the moment a television turns on to the second a viewer powers down, creating a highly targeted advertising profile that commands premium ad rates.
Forcing Advertisers to Pay the TollRoku built an empire by operating as a neutral territory. Roku acted as an agnostic aggregator, routing viewers to various streaming apps while taking a standard cut of ad inventory. That neutrality ends the moment the acquisition closes.
Transitioning the living room operating system into a walled garden designed to amplify Fox Corporation's inventory completely disrupts the ad-supported streaming ecosystem. Advertisers and media agencies rely on unbiased auction environments to deploy capital efficiently. If Roku backend ad-bidding logic shifts to favor Fox Corporation network properties, ad buyers will naturally look for alternative platforms to ensure fair market pricing.
This structural shift creates massive tailwinds for independent programmatic operators. Companies operating as independent demand-side platforms and supply-side platforms offer a neutral ground for ad buying and selling. Operators like The Trade Desk NASDAQ: TTD and Magnite NASDAQ: MGNI are structurally insulated from these emerging content conflicts. As the newly consolidated Fox Corporation ecosystem raises the toll for living room access, programmatic advertising budgets will systematically migrate toward the remaining agnostic infrastructure.
The Hunt for Neutral Ad-Tech WinnersThe combined Fox Corporation and Roku entity instantly becomes the third-largest player in U.S. television by viewing share. This consolidation removes the last major independent hardware operator from the board, leaving the sector entirely controlled by legacy media and mega-cap tech conglomerates.
Wall Street analysts are rapidly updating models to reflect this reality. Several firms downgraded Roku to market perform ratings, citing capped upside at the $160 buyout price. Conversely, a select few analysts raised their price targets slightly, pricing in the remote possibility of a competing bid from a tech giant willing to absorb the termination fee to prevent Fox Corporation from controlling the living room gateway.
Holding legacy linear broadcasters that lack a dedicated distribution arm now carries immense structural risk. Successful navigation of this market requires identifying which ad-tech firms and streaming platforms can thrive when independent hardware no longer exists. Investors looking to capitalize on shifting advertising budgets may want to add independent programmatic ad-tech operators to watchlists as the connected-TV ecosystem adjusts to the newest gatekeeper.
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Micron Technology MU heads into earnings Wednesday with investors looking for more than just another beat. The memory giant's results are expected to offer one of the clearest reads yet on AI spending, semiconductor demand and whether the industry's momentum can continue into 2027 and beyond.
Wall Street expects Micron to report Q3 revenue of $35.25 billion and EPS of $20.28, representing growth of roughly 279% from a year ago. The company has beaten both revenue and earnings estimates in each of the last 8 quarters, raising expectations yet again heading into the report.
Micron shares have surged about 270% this year as demand for AI memory chips continues to outstrip supply. Analysts remain broadly bullish, pointing to strong DRAM pricing, tight industry capacity and robust AI demand. Over the past 3 months, analysts have issued 19 upward EPS revisions and 20 upward revenue revisions, with virtually no downward changes.
Beyond the headline numbers, investors will be listening closely for updates on DRAM and NAND pricing, capacity commitments for 2027 and whether customers are already locking in supply for 2028.
Micron zveřejní výsledky po uzavření trhu a opční trh už počítá s pohybem asi 11 % oběma směry. Firma navíc čeká tržby 33,5 miliardy USD a hrubou marži kolem 81 %.
Micron stock NASDAQ:MU reports fiscal third-quarter earnings after the US market close on Wednesday, and the options market has already marked the event as a potential shock.
The stock has been one of the biggest AI winners of the year, with gains of more than 800% over the past 12 months and a market value that has pushed above $1 trillion.
That makes tonight’s print a test of whether the AI hardware boom can keep outrunning even the most aggressive expectations.
The options chain was already telling that story before a single number dropped.
Saxo Bank said Micron’s near-term options were pricing in an implied move of about 11% in either direction after earnings.
That does not mean traders are betting the stock will rise 11%. It means the market is attaching a high price to uncertainty.
Based on a reference stock price of $1,172.30, Saxo said the options market was implying a post-earnings range of roughly $1,066 to $1,331.
That is a very wide earnings window, even for a stock that has become central to the AI trade.
The reason is volatility, as Saxo pegged front-week implied volatility at about 155%, compared with roughly 109% for July options.
In plain English, the market is charging a huge premium for options that cover the earnings event.
That creates a risk known as “IV crush”. Once the results are out, that event premium can disappear quickly.
A trader can get the direction right and still lose money if Micron’s actual move is smaller than the move already priced into the option.
For ordinary investors, the message is simpler: the market expects fireworks, but it is not saying which way the blast goes.
The reason traders are willing to price such a large move is that Micron is no longer being treated like a normal memory-cycle stock.
TD Cowen analyst Krish Sankar recently lifted his price target on Micron to $1,500 from $660. The core of his argument was blunt: the role of memory in AI is “structural rather than cyclical”.
That phrase matters as memory stocks have historically moved through boom-and-bust cycles. Prices rise, manufacturers add supply, margins peak, and the cycle eventually rolls over.
Wall Street is now asking whether AI has changed that pattern.
Bank of America’s Vivek Arya also raised his Micron target to $1,500 from $950. The timing was notable because the upgrade came as the stock was selling off.
That made the call less like a momentum chase and more like a statement of conviction.
Other target increases have followed the same direction.
TheStreet cited UBS at $1,625, Needham at $1,550, and several other firms clustered well above the stock’s recent trading range.
The fundamental story is high-bandwidth memory, or HBM. These chips sit alongside advanced AI accelerators and are essential for training and running large models.
Supply remains tight, pricing power has extended, and analysts are increasingly treating Micron as a core AI infrastructure beneficiary rather than a commodity memory maker.
Micron’s own guidance has raised the bar. The company guided for fiscal Q3 revenue of $33.5 billion at the midpoint and gross margin of about 81%.
For a memory chipmaker, that margin level would be extraordinary, but it also leaves little room for disappointment.
Intuitive Surgical zvýšila výhled růstu procedur da Vinci pro rok 2026 na 13,5–15,5 % po silném 1. čtvrtletí. Tahounem je hlavně 31% růst v USA a 19% růst mimo USA.
Key Takeaways ISRG raised 2026 da Vinci procedure growth guidance to 13.5-15.5% after strong Q1 2026 results.Intuitive Surgical saw 31% U.S. general surgery growth and 19% international procedure growth.ISRG faces risks from GLP-1 pressure on bariatrics, China weakness, and healthcare spending concerns. Intuitive Surgical’s (ISRG - Free Report) raised its full-year outlook on the first-quarter earnings call, primarily supported by a broadly diversified procedure growth profile. The management increased its 2026 da Vinci procedure growth guidance to 13.5-15.5% from 13-15%, reflecting confidence in sustained adoption trends.
The biggest growth driver continues to be U.S. general surgery, where procedures such as cholecystectomies and appendectomies surged 31% year over year. Growth was supported by increased after-hours utilization and higher adoption of the da Vinci 5 platform, which delivers utilization rates roughly 11% higher than those of the earlier Xi system.
International markets are also becoming an increasingly important contributor, with ex-U.S. da Vinci procedures growing 19%, driven by strong momentum in Europe, India, Korea, Taiwan, and Canada. Overseas procedures now represent 38% of total da Vinci volume, highlighting the growing diversification of Intuitive Surgical’s revenue base and long-term expansion potential.
However, some headwinds could limit upside. In the United States, bariatric procedures declined approximately 10%, as rising adoption of GLP-1 obesity drugs continues to reduce surgical demand in weight-loss procedures.
Internationally, China remains challenged by weak tender activity, domestic competition, and pricing pressure, while Japan continues to face slower adoption following reduced system placements.
Management remains cautious about external risks, particularly the potential impact of ACA subsidy changes in the U.S. healthcare market and broader macroeconomic pressures affecting hospital capital spending in Europe and Asia. While procedure growth appears broad-based enough to support 2026 guidance, sustaining momentum will depend on whether strength in general surgery and international expansion can offset these emerging structural headwinds.
Peer UpdatesBoston Scientific (BSX - Free Report) delivered solid procedural momentum in the first quarter of 2026, supported by strength across electrophysiology, cardiovascular, and neuromodulation franchises. The standout performer was electrophysiology, where sales surged 22% organically, driven by strong adoption of the FARAPULSE pulsed field ablation platform, expanded OPAL mapping utilization, and robust international demand, particularly in Europe.
Cardiovascular procedures also remained healthy, with WATCHMAN growing 19%. The interventional cardiology is benefiting from strong demand for AGENT DCB and imaging portfolio. However, procedural growth was partially offset by weakness in standalone WATCHMAN procedures due to hospital capacity constraints and softer Urology volumes, highlighting pockets of demand normalization despite innovation-led strength.
Medtronic’s (MDT - Free Report) results in the fourth quarter of fiscal 2026 reflected broad-based procedural strength, led by exceptional performance in high-growth cardiovascular technologies. Cardiac Ablation Solutions grew 78% globally, with Pulsed Field Ablation procedures surging 145%, driven by rapid adoption of the Affera platform and Sphere-9 catheter. The expanding installed base, rising 40% sequentially in the United States, also aided growth.
Surgical procedures gained momentum as Hugo robotic-assisted surgery system volumes grew 2x–3x faster than the market, supported by rising utilization and expanding U.S. placements. Additional procedural tailwinds came from the Symplicity renal denervation platform, where weekly procedure volumes doubled, reinforcing Medtronic’s innovation-driven growth trajectory and supporting an increasingly favorable procedure growth outlook heading into fiscal 2027.
ISRG’s Price Performance, Valuation and EstimatesShares of ISRG have lost 28.9% so far this year compared with an 18.2% decline of the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 36.55X, above the industry average. But, it is still lower than its five-year median of 70.02X. ISRG carries a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Intuitive Surgical’s 2026 earnings implies a 16.6% rise from the year-ago period’s level.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMC uzavřela dohodu s institucionálními investory o prodeji 95,25 milionu akcií za zhruba 200 milionů USD. Výnosy z prodeje použije na splacení dluhu ve výši 125,5 milionu USD a posílení hotovosti.
LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC” or “the Company”), announced today that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 95,250,000 shares of AMC common stock. The Offering is expected to result in gross proceeds of approximately $200 million, before deducting agent fees and offering expenses.
AMC intends to use the net proceeds from the Offering to redeem all of its $125,500,000 aggregate principal amount of 6.125% Senior Subordinated Notes due 2027, pay related fees, costs, premiums and expenses associated therewith and for general corporate purposes, which may include the repayment of other debt, the strengthening of AMC's cash reserves and investments to enhance the moviegoing experience at AMC's theatres. The Offering is expected to close on June 24, 2026, subject to customary closing conditions.
Roth Capital Partners is acting as the sole placement agent for the Offering.
The shares described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-293291), originally filed with the Securities and Exchange Commission (the “SEC”) on February 9, 2026. The Offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies may be obtained when available, from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by email at [email protected], or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 850 theatres and 9,600 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, website, and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. For more information, visit www.amctheatres.com.
Website Information
This press release, along with other news about AMC, is available at www.amctheatres.com. We routinely post information that may be important to investors in the Investor Relations section of our website, www.investor.amctheatres.com. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD, and we encourage investors to consult that section of our website regularly for important information about AMC. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information when posted to our website can also visit www.investor.amctheatres.com to sign up for email alerts.
Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In many cases, these forward-looking statements may be identified by the use of words such as “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “indicates,” “projects,” “goals,” “objectives,” “targets,” “predicts,” “plans,” “seeks,” and variations of these words and similar expressions. Examples of forward-looking statements include statements the Company makes regarding impacts of the industry box office in North America and European industry attendance, the Company’s expected revenue, net loss, capital expenditures, diluted loss per share, Adjusted EBITDA and estimated cash and cash equivalents, the potential for sustained growth, the Company’s cash generation potential, the potential for further debt equitization, the ability to achieve the Company’s AMC Go Plan, the Company’s financial runway and the continued box office recovery as well as the future box office outlook, including with respect to the full year 2026, the use of proceeds from the Offering, changing market dynamics and capitalizing on opportunities to further strengthen AMC’s balance sheet. Any forward-looking statement speaks only as of the date on which it is made. These forward-looking statements may include, among other things, statements related to AMC’s current expectations regarding the performance of its business, financial results, liquidity and capital resources and are based on information available at the time the statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to: the sufficiency of AMC’s existing cash and cash equivalents and available borrowing capacity; AMC’s ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that will be required unless it is able to achieve more normalized levels of operating revenues, likely would result with AMC seeking an in-court or out-of-court restructuring of its liabilities; the effectiveness of the refinancing transactions completed in the third quarter of 2025 and the ability to further equitize existing debt; increased use of alternative film delivery methods or other forms of entertainment; the continued recovery of the North American and international box office; AMC’s significant indebtedness, including its ability to meet its covenants and limitations on AMC's ability to take advantage of certain business opportunities imposed by such covenants; shrinking exclusive theatrical release windows; the seasonality of AMC’s revenue and working capital; intense competition in the geographic areas in which AMC operates; risks relating to impairment losses, including with respect to goodwill and other intangibles, and theatre and other closure charges; motion picture production, promotion, marketing, and performance including labor stoppages affecting the production, supply and release schedule of theatrical motion picture content and choice of distributors to release fewer feature-length films as a result of the additional financial burden imposed by tariffs; the use of artificial intelligence (“AI”) technology in the filmmaking process and audience acceptance of movies made utilizing AI technology; general and international economic, political, regulatory and other risks, including but not limited to rising interest rates; AMC’s lack of control over distributors of films; limitations on the availability of capital, including on the authorized number of AMC common stock; dilution of voting power caused by recent sales of AMC common stock and through the issuance of AMC common stock underlying Muvico LLC’s exchangeable notes and the issuance of preferred stock; AMC’s ability to achieve expected synergies, benefits and performance from its strategic initiatives; AMC’s ability to refinance its indebtedness on favorable terms; AMC’s ability to optimize its theatre circuit; AMC’s ability to recognize interest deduction carryforwards, net operating loss carryforwards, and other tax attributes to reduce future tax liability; supply chain disruptions, labor shortages, increased cost and inflation; and other factors discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, the Company cautions you against relying on forward-looking statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” and elsewhere in the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as the Company’s other filings with the SEC, copies of which may be obtained by visiting the Company’s Investor Relations website at investor.amctheatres.com or the SEC’s website at www.sec.gov.
AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.
BlackBerry očekává ve 1. fiskálním čtvrtletí tržby 132–140 mil. USD a poprvé za tři roky kladné provozní cash flow. Zásoba licenčních výnosů QNX vzrostla na zhruba 950 mil. USD.
Key Takeaways BlackBerry's QNX royalty backlog reached about $950M, supporting durable multi-year growth visibility.BB expects QNX revenue of $60-$64M and Secure Comms revenue of $66-$70M for fiscal Q1.BlackBerry sees positive operating cash flow for the first time in three years despite risks. BlackBerry Limited (BB - Free Report) is set to report first-quarter fiscal 2027 results on June 25.
The Zacks Consensus Estimate for the bottom line is currently pegged at 3 cents and has remained unchanged over the past 60 days. The company expects non-GAAP EPS to be in the range of 2-3 cents.
The company expects fiscal first-quarter revenues to be in the $132-$140 million range.
BlackBerry’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters, while meeting once, with the average beat being 115%.
Image Source: Zacks Investment Research
What Our Model Unveils for BBOur proven model does not conclusively predict an earnings beat for BlackBerry this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
BB has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Catalysts for BB’s Q1 EarningsBlackBerry enters this earnings season from a position of improving operational strength along with growing momentum across its QNX and Secure Communications divisions. QNX's royalty backlog has expanded to approximately $950 million, with new additions significantly exceeding recognized revenue, providing strong visibility into durable multi-year growth. The continued expansion of backlog highlights a business that is compounding rather than slowing, supported by its leadership in automotive and growing opportunities in physical AI, robotics, industrial, medical and other emerging markets.
While quarterly results can be uneven due to the timing of design wins and development tool purchases, the long-term growth outlook remains strong. Most revenue from new design wins is realized only after products enter production, typically two to three years later. After delivering 14% growth in fiscal 2026 despite a softer first quarter, management expects a similar pattern in fiscal 2027 and believes QNX will remain a Rule of 40 business. QNX is evolving into a high-quality, scalable and profitable growth engine. Beyond automotive, it is gaining traction in industrial automation, medical devices and robotics, with a growing pipeline increasingly converting into signed deals. Higher ASPs in these markets are supporting margin expansion, and GEM now represents nearly half of the SDP 8.0 pipeline, highlighting greater diversification.
Non-automotive markets account for about 20% of QNX revenue and may ultimately present a larger opportunity than automotive. Robotics, driven by the rise of physical AI, is a promising long-term growth area, backed by QNX’s expertise in autonomous systems. BlackBerry’s durable growth is anchored in a strong, multi-layered moat across QNX and Secure Communications. At scale, QNX also benefits from a cost advantage that in-house solutions struggle to replicate. Similarly, Secure Comm operates in mission-critical settings where certifications and long-standing relationships create high barriers to entry. Rather than a threat, BB sees AI as a tailwind, enhancing productivity, accelerating development and reinforcing its position in safety-critical and physical AI applications.
The Secure Comms business is benefiting from the growing demand for digital sovereignty, as governments and enterprises seek secure communication platforms that protect sensitive data from foreign access. A key validation of this trend was the Government of Canada's expanded adoption of BlackBerry's SecuSUITE platform, which is expected to contribute meaningfully to fiscal 2027 revenue. The segment nearly achieved the Rule of 40 in the fiscal fourth quarter, led by rising NATO and global defense spending. Expanded support for iOS alongside Android has strengthened the pipeline, while investments in Secusmart iOS support, FedRAMP High certification for AtHoc and UEM BSI certification are helping stabilize UEM and drive growth in AtHoc and Secusmart.
For the Secure Comm unit, revenues are estimated to be in the band of $66-$70 million. For the QNX business, revenues are expected to be in the range of $60-$64 million for the fiscal first quarter. Licensing & Other revenues are expected to be roughly $6 million. Adjusted EBITDA is expected to be between $14 million and $22 million. QNX segment adjusted EBITDA is estimated at $4-$8 million, while Secure Comm segment adjusted EBITDA is projected at $14-$18 million.
Image Source: Zacks Investment Research
BlackBerry is driving shareholder returns by prudently allocating capital across its three profitable divisions—QNX, Secure Communications and Licensing—all of which contribute positive adjusted EBITDA. The fiscal first quarter is expected to be a seasonal low for cash flow due to billing and payment timing, but for the first time in three years, BlackBerry anticipates positive operating cash flow of breakeven to $10 million.
Despite the improving trajectory, BB is facing multiple challenges. QNX revenue is still partially tied to automotive manufacturing cycles. Macroeconomic uncertainty, particularly in the automotive sector, is adversely impacting customer buying decisions, with some OEMs delaying projects due to supply chain concerns and tariff-related disruptions. Global production slowdowns or weaker electric vehicle demand could affect licensing revenue. Dependence on government procurement cycles and broader macroeconomic volatility continues to pose risks, especially within the Secure Comm.
Moreover, BB competes with much larger cybersecurity firms, such as CrowdStrike Holdings, Inc. (CRWD - Free Report) and Palo Alto Networks (PANW - Free Report) , that invest billions annually in R&D. To address the constant risk of technological obsolescence, BB needs to invest heavily in R&D, thereby depleting margins.
BB Stock vs. IndustryBB’s shares have gained 109.5% in the past six months, significantly outpacing the Internet Software industry’s fall of 15.7%. The broader Zacks Computer & Technology sector and the S&P 500 composite have registered declines of 18.4% and 8.7%, respectively.
Image Source: Zacks Investment Research
Blackberry has outperformed its peers (within the cybersecurity space). PANW has gained 52.9%, while CrowdStrike is up 43% over the same time frame.
Valuation After Recent GainsRegarding the price/book ratio, BB is trading at 6.58, higher than the industry’s multiple of 4.39.
Image Source: Zacks Investment Research
PANW and CrowdStrike are trading at a 12-month price/book multiple of 8.48X and 37.29X, respectively, compared with the Security industry’s multiple of 26.02X.
Investment Outlook: Buy, Hold, or Wait?For long-term investors, BlackBerry appears increasingly attractive. The company now boasts improving profitability, positive cash generation, strong exposure to automotive software, growing cybersecurity demand and expansion into AI-enabled industrial markets. These factors support a stronger long-term investment thesis.
The upcoming fiscal first-quarter earnings report will be an important test of whether BlackBerry's turnaround is sustainable. Strong execution, continued QNX growth and solid guidance could further boost investor confidence. For current shareholders, holding through earnings may be worthwhile if they believe in the company's long-term growth story. For new investors, the report could provide clearer evidence on whether BlackBerry's recent momentum reflects a lasting recovery rather than a short-term rebound.
Amgen v 1. čtvrtletí 2026 utržil z biosimilars 835 milionů USD, meziročně o 14 % více. Nové produkty Wezlana a Pavblu pomáhají kompenzovat slabší starší portfolio.
Key Takeaways Amgen's biosimilar portfolio generated $835 million in Q1 2026 sales, up 14% year over year.New launches like Wezlana and Pavblu are helping offset declines in older biosimilar products.AMGN is advancing biosimilars to Opdivo, Keytruda and Ocrevus to tap major biologic markets. Historically known for its innovative biologic medicines such as Enbrel, Prolia and Repatha, Amgen (AMGN - Free Report) has also emerged as one of the global leaders in biosimilars. The company boasts a strong biosimilars portfolio and the business has become an increasingly important contributor to the company's top-line growth strategy. Its biosimilar portfolio spans oncology, inflammation and rare diseases.
Some of Amgen's older biosimilars — Kanjinti (a biosimilar of Roche’s [(RHHBY - Free Report) ] Herceptin), Mvasi (a biosimilar of Roche’s Avastin), Riabni (a biosimilar to Roche’s Rituxan), Avsola (a biosimilar to J&J’s [(JNJ - Free Report) ] Remicade) and Amjevita/Amgevita (a biosimilar of AbbVie’s Humira) — are seeing slowing/declining sales due to rising competitive pressure.
To combat the impact, Amgen has successfully launched biosimilars of J&J’s Stelara, called Wezlana, AstraZeneca’s (AZN - Free Report) Soliris, called Bekemv, and Regeneron’s Eylea, called Pavblu, in the past couple of years.
In the first quarter of 2026, its biosimilar products generated sales of $835 million, up 14% year over year, including $47 million from Wezlana and $280 million from Pavblu. Since the first launch in 2018, Amgen’s biosimilar drugs have delivered more than $14 billion in sales, significantly contributing to top-line growth and generating meaningful cash flows.
Amgen is also developing biosimilars referencing some of the pharmaceutical industry's largest biologics. Phase III studies are ongoing to evaluate biosimilar versions of Bristol-Myers’ Opdivo (ABP 206), Merck’s Keytruda (ABP 234) and Roche’s Ocrevus (ABP 692). These medicines collectively generate tens of billions of dollars in annual sales globally. As patents on these products expire over the next several years, biosimilars targeting them could create substantial revenue opportunities for Amgen.
Over the next few years, Amgen will face a significant patent-expiration overhang. Its own key branded products, such as Prolia, Xgeva, Enbrel and Otezla, have either already lost exclusivity or are expected to do so within the next few years. Together, these medicines accounted for roughly 30% of Amgen’s 2025 product sales, leaving the company exposed to potential revenue pressure from generic and biosimilar competition as patents expire.
Amgen’s new biosimilar launches will play a key role in mitigating the impact of LOE over the next few years, along with Amgen’s key growth drivers, which include Repatha, Evenity, Tezspire and some oncology and rare disease drugs.
While Amgen's biosimilars may not individually achieve blockbuster status comparable to leading innovative therapies, together they represent a meaningful source of recurring revenues, enhance portfolio diversification and provide access to some of the world's largest biologic markets. Over the long term, the biosimilars business is expected to remain a key pillar of Amgen's strategy, supporting a more diversified, resilient and sustainable growth profile.
AMGN’s Price Performance, Valuation and EstimatesAmgen’s stock has risen 5.3% so far this year compared with an increase of 1.3% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Amgen is reasonably priced. Going by the price/earnings ratio, the company’s shares currently trade at 15.02 forward earnings, which is lower than 17.05 for the industry. The stock is also trading above its five-year mean of 13.81.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for earnings has risen from $22.21 per share to $22.26 per share for 2026 over the past 60 days. For 2027, the consensus mark for earnings has risen from $23.35 to $23.70 per share over the same timeframe.
Image Source: Zacks Investment Research
Amgen has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zillow spustil personalizované centrum, které vede kupující od rozpočtu až po uzavření transakce. Přidal také Verified Pre-approval, sdílené kolekce a Zillow Preview pro prodávající.
Summer Launch 2026 introduces four new products to help buyers plan, finance and find a home, and give sellers more exposure before their listing goes live
, /PRNewswire/ -- Today, Zillow® is launching a personalized hub that guides home buyers through every step of their purchase in real time. In addition, three new features have been designed to give buyers and sellers more clarity at every stage of the transaction.
Today, Zillow® is launching a personalized hub that guides home buyers through every step of their purchase in real time. In addition, three new features have been designed to give buyers and sellers more clarity at every stage of the transaction.
Zillow's new personalized hub guides buyers through four milestones: setting a budget, finding a home, making an offer and closing the deal. It brings together goals, finances, tasks, documents, and the agent and lender a buyer is working with, all in one place.
Now buyers have a way to shop with Zillow Home Loans Verified Pre-approval, with that pre-approval connected directly to a buyer’s home search. Buyers will clearly see whether a listing is a match or is out of their price range as they browse.
The new shared collection feature replaces that with a single shared workspace inside Zillow, where buying partners can save, organize and compare homes together in real time, with any update immediately visible to both people, across iOS, Android and the web.
Zillow Preview gives soon-to-be sellers the opportunity to hire an agent to show their listing to the broadest online audience possible before it actually goes on the market. During this window, the home appears in every buyer’s regular Zillow search, with a Preview label.
Zillow's new personalized hub guides buyers through four milestones: setting a budget, finding a home, making an offer and closing the deal. It brings together goals, finances, tasks, documents, and the agent and lender a buyer is working with, all in one place.
Now buyers have a way to shop with Zillow Home Loans Verified Pre-approval, with that pre-approval connected directly to a buyer’s home search. Buyers will clearly see whether a listing is a match or is out of their price range as they browse.
The new shared collection feature replaces that with a single shared workspace inside Zillow, where buying partners can save, organize and compare homes together in real time, with any update immediately visible to both people, across iOS, Android and the web.
Zillow Preview gives soon-to-be sellers the opportunity to hire an agent to show their listing to the broadest online audience possible before it actually goes on the market. During this window, the home appears in every buyer’s regular Zillow search, with a Preview label.
The median home search for a buyer takes from three to four months, involves countless conversations with an agent and lender, and culminates in gathering documents at a few days' notice, all while tracking a budget on a spreadsheet. It's a process that moves more than half of buyers to tears, according to Zillow research. And today's market conditions aren't making it any easier. Buyers, nearly half of whom are first-timers, are navigating a market where the housing recovery is "back on pause," with mortgage rates climbing past 6.5%, adding more uncertainty to an already complex process.
Now, Zillow is giving buyers a clearer path forward: a single place where everything comes together. The new personalized hub guides buyers through four milestones: setting a budget, finding a home, making an offer and closing the deal. It brings together goals, finances, tasks, documents, and the agent and lender a buyer is working with, all in one place. And all of those details update automatically as the journey evolves, so buyers always know where they stand and what to do next.
"Zillow has spent 20 years turning on the lights in real estate, giving buyers and sellers access to information they'd never had before," said Jeremy Wacksman, Zillow's chief executive officer. "The next frontier is the journey itself: the financing, the coordination, the offer, the closing. For the first time, every home shopper on Zillow has a single place that brings it all together, so instead of wondering what comes next, they always know exactly where they are and what to do."
Personalized moving hub: A clear path from first search to closing
Home shoppers start by answering a single question, "Are you buying, selling, both, or just browsing?" From there, they receive a personalized plan.
The hub immediately displays:
BuyAbility℠: This personalized, real-time affordability tool helps buyers understand the range of home prices and monthly payments that may fit their financial situation. They can then use that guidance to shop for homes that are realistically within reach. That information is updated with live mortgage rates. Local market insights: This includes market conditions, median days to pending, active listings and a one-year price forecast. The shopper's team: If a buyer is already working with an agent and loan officer, those contacts are given in this view. If the buyer doesn't have a team, the hub brings up Agent Finder to connect them with an agent in their area. From there, buyers are guided through four milestones: setting a budget, finding a home, making an offer and closing the deal. The hub shows buyers which areas to focus on and lists the steps to follow below each milestone. Progress is updated automatically — when a buyer gets pre-approved, the hub moves forward; when they go under contract, closing tasks appear.
The hub is available now on iOS and Android, and will be coming soon to Zillow.com.
Three additional Summer Launch features give buyers and sellers the tools to plan their move
Zillow's Summer Launch goes beyond offering the personalized moving hub with the addition of three new features designed to help buyers and sellers move forward during those moments that matter most.
"Every feature in our Summer Launch was designed around a specific moment when buyers lose clarity or momentum," said Christopher Roberts, chief product officer at Zillow. "The hub gives buyers confidence by making a complex process easier. The shared collection feature helps partners collaborate on their home search, and the ability to shop with Verified Pre-approval shows buyers what they can actually afford on every listing, not just the list price. Zillow Preview opens the pre-market to every buyer, not just those in a certain network. Together, these features remove the friction that makes the home-buying process so hard."
Zillow Preview
Zillow PreviewSM gives soon-to-be sellers the opportunity to hire an agent to show their listing to the broadest online audience possible before it actually goes on the market. During this window, the home appears in every buyer's regular Zillow search, with a Preview label.
Buyers can now filter specifically for Preview listings. Once they find a home they're interested in, they can save it, pre-book a tour or use the time to get pre-approved — signals that indicate serious buyer interest. Sellers get real-time engagement data on views, saves and tour requests to refine their list price and strategy before their listing is fully active. Preview is available through more than 1,200 participating brokers nationwide.
With Zillow Preview, no private network is required. But sellers who decide to go the private-network route pay a price: They lose access to the full buyer pool and net 1.5% less on their sale, which could amount to more than $30,000 in high-cost markets, according to Zillow research. A Zillow survey conducted by The Harris Poll finds that 85% of soon-to-be sellers would be more likely to hire an agent who can show their listing to the broadest online audience before putting it on the market.
Shop with Zillow Home Loans Verified Pre-approval
Most buyers lack financial clarity when they start their home search. Only 28% of prospective buyers who plan to finance have been pre-approved before they begin their search, and about half don't know what pre-approval means, according to Zillow research.
Now buyers have a way to shop with Zillow Home Loans Verified Pre-approval, with that pre-approval connected directly to a buyer's home search. Buyers will clearly see whether a listing is a match or is out of their price range as they browse.
A home costs more than its list price. That's why taxes, insurance, HOA fees and closing costs are factored into Verified Pre-approval, so buyers understand why a higher-priced home may still fit within their means, or a lower-priced one may not. Zillow Home Loans is the only lender to integrate financing directly into the home search in this way, with the buyer's loan officer accessible throughout the process.
Shared collection
Most people buying a home aren't doing it alone. More than half of buyers in 2025 purchased their home with a partner, according to Zillow research, and for most of them, coordinating their search consisted of texting screenshots and forwarding listing links. The new shared collection feature replaces that with a single shared workspace inside Zillow, where buying partners can save, organize and compare homes together in real time, with any update immediately visible to both people, across iOS, Android and the web.
Tech momentum at Zillow keeps growing
Today's launch is the latest move by Zillow to streamline the home-buying process and build consumer confidence throughout the full transaction.
In summer 2025, the company introduced SkyTour, an interactive 3D exterior home tour built on Gaussian splatting technology originally developed by the gaming industry; and Offer Insights, a tool that shows buyers in real time how competitive different offer prices might be. In fall 2025, Zillow launched in-app messaging for co-shoppers, AI-powered virtual staging on ShowcaseSM listings, and an integrated closing dashboard, connecting the front end of the search with the back end of the transaction.
Earlier this year, Zillow launched Zillow AI mode, a conversational AI experience built directly into the app that lets buyers and renters ask questions in plain language, explore neighborhoods, compare affordability and book tours without leaving Zillow. Now available to a growing number of users, it will be expanding throughout the year.
About Zillow Group:
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.
As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.
Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans®, Zillow Rentals®, Zillow® New Construction, Trulia®, StreetEasy®, Out East®, HotPads®, Follow Up Boss®, ShowingTime® and dotloop®.
MercadoLibre rychle rozšiřuje 1P byznys, který ve 1. čtvrtletí 2026 vzrostl o 69 % a tlačí na marže. Hrubá marže klesla meziročně o 300 bazických bodů.
Key Takeaways MELI is rapidly expanding its first-party business to boost assortment and pricing competitiveness.MELI's first-party growth is increasing logistics, warehousing and inventory management demands.MELI continues prioritizing market-share gains as margin recovery remains challenging. MercadoLibre's (MELI - Free Report) aggressive expansion of its first-party (1P) business is emerging as a key headwind to margin recovery. While the strategy is strengthening assortment, improving pricing competitiveness and helping the company gain share across key categories, the rapid scaling of inventory-led commerce is introducing structural profitability pressures that could weigh on operating leverage for longer than anticipated.
The company's 1P gross merchandise volume grew 69% year over year on a foreign exchange-neutral basis in the first quarter of 2026, significantly outpacing overall marketplace growth. The strategy has been particularly effective in consumer electronics, where MercadoLibre has expanded its competitive position through broader selection and sharper pricing. However, unlike the higher-margin third-party marketplace model, 1P requires inventory ownership, procurement spending and greater fulfillment intensity. As the business scales, associated logistics, warehousing and inventory management costs are likely to rise alongside volume growth, creating a more capital-intensive operating profile.
Gross margin contracted 300 basis points year over year in the first quarter of 2026, with rapid 1P expansion among the key drivers of the decline. Although profitability within certain mature 1P categories has improved, the broader business continues to absorb a growing share of corporate allocations as it scales faster than the overall marketplace. This dynamic suggests margin dilution will likely persist even as scale benefits gradually emerge.
MercadoLibre appears willing to continue prioritizing market-share gains and ecosystem expansion over near-term earnings optimization. As 1P continues to outpace the broader marketplace and absorb a growing share of corporate costs, the path toward margin normalization is expected to remain challenging.
MELI Faces Stiff CompetitionMELI faces stiff competition from Amazon (AMZN - Free Report) and Alibaba (BABA - Free Report) , both of which have expanded logistics and inventory-led commerce capabilities to strengthen user engagement and pricing competitiveness.
Amazon continues to scale its first-party retail network despite persistent fulfillment cost pressures, and its scale advantage sets a high bar for efficiency. Alibaba has likewise increased investments across direct retail and supply-chain infrastructure, navigating similar margin trade-offs as it defends its share.
Unlike Amazon and Alibaba, MELI is expanding 1P while simultaneously ramping fintech, free shipping and logistics spend, which could keep profitability under pressure for longer.
MELI’s Share Price Performance, Valuation and EstimatesMELI shares have declined 18.8% in the year-to-date (YTD) period, and the Zacks Internet–Commerce industry and the Zacks Retail-Wholesale sector have declined 4.5% and 0.9%, respectively.
MELI’s YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, MELI is currently trading at a forward 12-month Price/Sales ratio of 1.83X compared with the industry’s 1.99X. MELI has a Value Score of F.
MELI's Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MELI’s 2026 earnings is pegged at $40.97 per share, indicating a 3.98% year-over-year increase.
Philip Morris International získává přes 43 % čistých tržeb ze smoke-free produktů a dividendu dál kryje silný cash flow. Společnost vyplácí 5,88 USD na akcii při výnosu 3,13 % a zvýšila dividendu 17 let po sobě.
Philip Morris International (NYSE:PM | PM Price Prediction) is a tobacco giant in the middle of a profitable pivot, with smoke-free products now accounting for over 43% of net revenues through IQOS heat-not-burn devices and ZYN nicotine pouches. With markets nervous about a potentially hawkish Federal Reserve under Kevin Warsh, retirees want to know if this 3% yielder can keep delivering. I dug into the payout math to find out.
Dividend Snapshot Metric Value Annual Dividend $5.88 per share Dividend Yield 3.13% Consecutive Years of Increases 17 years Most Recent Increase 8.9% (September 2025) Dividend Aristocrat Status No (since 2008 spin-off) Payout Ratios Are Elevated but Covered by Smoke-Free Cash PM paid roughly $9.1 billion in dividends against $12.233 billion of operating cash flow in FY2025. On 2026 guidance for $13.5 billion in OCF and $1.4 to $1.6 billion of capex, free cash flow should land near $12 billion, comfortably above the payout.
Metric TTM Value Assessment Earnings Payout Ratio (FY25 EPS $7.54) ~78% Elevated Forward Payout (2026 guide $8.36 to $8.51) ~70% Improving FCF Payout Ratio ~76% Healthy Operating Cash Flow Coverage 1.34x Adequate Negative Equity Looks Scary, but Leverage Is on the Way Down The Swedish Match acquisition left shareholders’ equity at negative $7.3 billion, making debt-to-equity less informative here. Leverage is the key metric: management is targeting net debt to adjusted EBITDA near 2.0x by year-end 2026, supported by $5.45 billion in cash and EBITDA of $18.6 billion. Interest coverage remains comfortable given FY2025 operating income of $14.892 billion.
17 Straight Hikes and No Buybacks Competing for Cash Year Annual Dividend 2026 (run-rate) $5.88 2025 $5.64 2024 $5.20 2023 $5.14 2021 $4.90 PM has raised every year since spinning off in 2008, and importantly, no share repurchases are planned in 2025 or 2026. The dividend gets first call on cash.
Management Calls It a Progressive Dividend Policy On the Q1 2026 call, CEO Jacek Olczak stated, “We remain firmly committed to our progressive dividend policy and to returning value to shareholders as our transformation delivers sustainable long-term growth.” CFO Emmanuel added that the business is “supported by remarkable cash generation and a strong balance sheet.” Nine directors also bought stock at $169.93 on May 6, 2026.
The Verdict: Safe, With Smoke-Free Doing the Heavy Lifting Dividend Safety Rating: Safe. The payout ratio is elevated near 78% on trailing earnings, but 2026 guidance of 10.9% to 12.9% EPS growth rapidly relieves that pressure, and FCF coverage is solid. The income case holds if IQOS and ZYN keep compounding at current rates and management hits the 2.0x leverage target. I would grow cautious if combustible volume declines accelerate beyond the guided 3% or FDA action restricts ZYN. For now, the cigarette dividend is still lit.
Ženy nyní vlastní více než 40 % všech podniků v USA, zaměstnávají přibližně 12,6 milionu lidí a generují tržby ve výši 2,8 bilionu USD, což ukazuje na jejich rostoucí vliv.
Corporate leadership is evolving as an increasing number of women take on senior roles at publicly traded companies. This shift is being supported by business results, with many women-led organizations demonstrating strong innovation, operational adaptability and solid shareholder returns across a range of industries. These leadership appointments go beyond symbolism, as many of these executives are outperforming peers through disciplined execution, efficient capital allocation and a clear focus on long-term value creation, strengthening investor confidence in more resilient and sustainable business models.
The latest reports paint a nuanced picture: women are becoming a structural force in U.S. entrepreneurship, even as funding and systemic gaps persist. One of the clearest takeaways is scale. Women now own more than 40% of all U.S. businesses, employing roughly 12.6 million people and generating $2.8 trillion in revenues. Growth has also been faster than that of male-owned firms, with women-owned businesses expanding nearly twice as quickly between 2022 and 2025. This shift signals that female entrepreneurship is no longer niche—it is central to the U.S. small- and mid-sized business ecosystem, particularly in services, consumer, healthcare and increasingly tech-enabled sectors. The data suggests women are not just starting companies, but building durable, employment-generating enterprises, a key driver of long-term economic resilience.
Female founders are increasingly gaining traction in AI and next-generation technology markets, which have become the primary destinations for venture capital. This indicates a shift from traditional sectors into high-value, innovation-driven markets, positioning women at the center of future growth themes. According to PitchBook's 2025 Female Founders report, U.S. female-founded startups raised a record $73.6 billion in venture capital in 2025, representing 27.7% of total U.S. VC deal value, the highest share on record. Importantly, AI accounted for roughly two-thirds of all venture dollars invested in female-founded startups.
At the same time, capital is becoming more concentrated in fewer, larger deals—often in AI—suggesting that while top-tier female-led companies are scaling rapidly, broader participation remains uneven.
Despite strong progress, a significant funding gap continues to limit the full potential of female founders. All-female founding teams still receive only about 1–2% of total U.S. venture capital, even though evidence suggests they often deliver higher capital efficiency and competitive returns. This imbalance highlights a structural constraint within the venture ecosystem, where access to early-stage and growth funding remains uneven. As a result, many promising female-led startups may struggle to scale at the same pace as their peers, underscoring a sizable untapped opportunity for investors willing to address this gap.
Despite funding challenges, women-led companies continue to drive innovation and resilience, making them attractive investment opportunities. If you want to capitalize on it, our Women Run Companies Screen will help you spot high-potential stocks in this space.
Investors looking to capitalize on opportunities across diverse industries should consider Newmont Corporation (NEM - Free Report) in gold mining, Pitney Bowes Inc. (PBI - Free Report) in shipping and mailing technology, The Coca-Cola Company (KO - Free Report) in the global beverage industry, Apple (AAPL - Free Report) in consumer technology and digital services, and Occidental Petroleum Corporation (OXY - Free Report) in the energy sector. These companies demonstrate strong leadership and strategic vision within their respective industries, positioning them for long-term growth and value creation.
Ready to uncover more transformative thematic investment ideas? Explore 37 cutting-edge investment themes with Zacks Thematic Investing Screens and discover your next big opportunity.
Newmont: Since joining Newmont in 2023 as chief operating officer and later becoming president and CEO in January 2026, Natascha Viljoen has played a key role in strengthening the company’s operational performance and strategic focus. One of her most important contributions has been overseeing the integration and optimization of Newmont’s expanded asset portfolio following the acquisition of Newcrest Mining. Under her leadership, the company has emphasized operational discipline, asset rationalization and productivity improvements to enhance profitability and cash generation across its global mining operations.
Viljoen has also been instrumental in advancing Newmont’s value-over-volume strategy. Rather than pursuing production growth at any cost, she has focused on improving margins, maximizing returns from high-quality assets and streamlining the company’s portfolio. Newmont has announced plans to divest non-core operations and concentrate capital on its Tier 1 assets, a move designed to strengthen the balance sheet and improve long-term shareholder returns. Her deep technical and operational background has helped drive initiatives aimed at improving mine performance, safety standards and cost efficiency.
Viljoen’s leadership is particularly important as the gold mining industry faces rising cost pressures, stricter environmental expectations and increasing capital allocation scrutiny. Her focus on operational excellence, disciplined capital spending and portfolio optimization positions Newmont to generate stronger free cash flow across commodity cycles. As the first woman to lead the company, Viljoen also brings a fresh leadership perspective while maintaining continuity in Newmont’s long-term strategy. Currently, Newmont sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Pitney Bowes: Debbie Pfeiffer has been one of the key leaders behind the stability and growth of Pitney Bowes’ Presort Services business, a segment that remains central to the company's cash flow generation and customer relationships. As executive vice president and president of Presort Services, she oversees a nationwide network of 35 operating centers and has played an important role in expanding the scale and efficiency of the business. With more than two decades at Pitney Bowes and over 40 years of industry experience, Pfeiffer has helped strengthen customer retention, expand national accounts and improve operating execution across the presort network.
Her contribution is particularly important because Presort Services is one of Pitney Bowes’ most resilient businesses. Under her leadership, the company has continued investing in automation and network expansion to improve service quality and processing efficiency. A recent example is the opening of a new highly automated Presort Services facility in Phoenix, AZ, which significantly increases processing capacity and supports faster mail delivery while lowering costs for customers. In 2025, the Presort network handled more than 15 billion pieces of mail, highlighting the scale of the operation she manages.
Her leadership also aligns with Pitney Bowes’ broader effort to improve profitability and operational performance. Following the company’s first-quarter 2026 results, management continued to emphasize operational efficiency, cash generation and strategic investments in core businesses. The Presort segment remains a valuable asset because it generates recurring revenue, benefits from long-standing customer relationships and provides economies of scale that are difficult for competitors to replicate. Pfeiffer’s ability to drive network optimization, customer growth and cost efficiencies makes her a significant contributor to Pitney Bowes’ long-term earnings and free-cash-flow profile. Currently, Pitney Bowes sports a Zacks Rank #1.
Coca-Cola: Tapaswee Chandele has become a key figure in Coca-Cola’s leadership team after being named executive vice president and global chief people officer in 2026. Having spent more than 25 years with the company, she has helped shape Coca-Cola’s approach to talent development, leadership succession and workforce strategy. Prior to her current role, she led Global Talent, Development and HR System Partnerships, overseeing programs designed to identify, develop and retain future leaders across the organization. Her leadership experience across India, Türkiye, South Africa and the United States has provided her with broad insight into Coca-Cola’s diverse global operations.
Chandele’s impact goes well beyond managing human resources. She has played an important role in strengthening leadership benches, enhancing employee capabilities and supporting organizational change initiatives across the company. Her elevation to the executive leadership team reflects Coca-Cola’s belief that attracting and developing talent is essential to maintaining its competitive position. Given the company’s vast global footprint, effective workforce management and leadership development are critical to driving consistent execution across markets.
Chandele’s role has become increasingly important as Coca-Cola pursues growth opportunities while navigating evolving consumer trends and advancing its digital capabilities. The company has continued to deliver solid organic revenue growth and healthy profitability, supported by strong execution across its global system. As global chief people officer, she is responsible for ensuring that Coca-Cola has the talent, leadership depth and organizational structure needed to support these objectives. Her efforts to build a stronger workforce and leadership pipeline could help sustain operational excellence and long-term value creation. Currently, Coca-Cola carries a Zacks Rank #2 (Buy).
Apple: Deirdre O’Brien has become one of Apple’s most influential executives through her dual role as senior vice president of Retail + People. Reporting directly to CEO Tim Cook, she oversees Apple’s global retail stores, online sales operations and human resources functions. This combination gives her significant influence over both customer engagement and workforce strategy. O’Brien has played a key role in shaping Apple’s retail experience, ensuring that product launches, service offerings and customer support remain consistent with the company’s premium brand positioning. She has also been involved in every major Apple product launch during her nearly four-decade tenure with the company.
From an operational standpoint, O’Brien’s contribution extends beyond retail execution. She leads talent management, recruiting, leadership development, compensation and employee support programs, helping Apple maintain a strong corporate culture while managing a workforce that supports millions of customers worldwide. Her focus on connecting employees, processes and customers has helped Apple preserve high levels of customer satisfaction and employee engagement despite its massive global scale. In an environment where technology companies compete aggressively for talent, her leadership is an important factor in Apple’s ability to attract and retain skilled employees.
Her impact is particularly relevant as Apple continues to deliver strong financial performance. In fiscal second-quarter 2026, Apple reported a record March-quarter revenue of $111.2 billion, up 17% year over year, while earnings per share rose 22% to $2.01. The company also achieved an all-time high in Services revenues and recorded double-digit growth across every geographic segment. Apple’s extensive retail network remains a critical channel for product sales, customer acquisition and ecosystem engagement, making O’Brien’s leadership an important contributor to the company’s long-term growth strategy and brand strength. Currently, Apple carries a Zacks Rank #2.
Occidental: Sylvia Kerrigan has become one of Occidental’s most influential executives through her role as senior vice president and chief legal officer. As the company’s top legal leader, she oversees global legal affairs, corporate governance, compliance and regulatory matters across Occidental’s oil and gas, chemicals and carbon management businesses. Her role is particularly important because Occidental operates in highly regulated markets where legal oversight, environmental compliance and transaction execution directly affect shareholder value. She also serves as a key adviser to the board and senior management on strategic decisions and risk management.
Kerrigan’s contribution has been especially relevant during Occidental’s transformation into a broader energy and carbon management company. The company has pursued major acquisitions, expanded its carbon capture initiatives through its subsidiary 1PointFive and continued optimizing its portfolio while managing a sizable asset base across the United States and international markets. Effective legal and governance oversight is critical to executing these initiatives, securing permits, managing contractual obligations and reducing regulatory risks. Her leadership helps ensure that strategic projects move forward while maintaining compliance with evolving environmental and energy regulations.
Her role also supports Occidental’s financial objectives. In the latest reported quarter, the company generated solid operating cash flow despite commodity-price volatility, supported by strong production from its oil and gas assets and steady contributions from its chemicals business. As Occidental continues to balance capital returns, debt management and investments in low-carbon technologies, Kerrigan’s expertise in governance, compliance and transaction execution remains an important enabler of long-term value creation. Her ability to help navigate legal complexities and regulatory challenges strengthens Occidental’s operational resilience and supports the successful execution of its long-term growth strategy. Currently, Occidental carries a Zacks Rank #2.
Occidental Petroleum snížila dluh o 15,6 miliardy USD za 22 měsíců, čímž snížila roční úrokové náklady o více než 830 milionů USD, což posílilo finanční flexibilitu a důvěru investorů.
Key Takeaways OXY cut debt by $15.6B in 22 months, reducing annual interest expenses by more than $830M.OXY's 2026 and 2027 EPS estimates rose 27.53% and 26.92%, respectively, in the past 60 days.OXY gained 29.7% in six months, outpacing the industry's 17.8% rally. Occidental Petroleum Corporation (OXY - Free Report) has made notable progress in reducing its debt load, a priority since the 2019 Anadarko acquisition. Over the past 22 months alone, Occidental has reduced debt by $15.6 billion, cutting annual interest expenses by more than $830 million. This disciplined deleveraging not only enhances balance sheet strength but also bolsters financial flexibility.
Occidental has cut the principal debt to $13 billion and continues to deploy cash flow toward reaching its $10 billion debt target. This rapid deleveraging is expected to create lasting value for its shareholders.
A leaner balance sheet enhances Occidental's ability to navigate commodity price volatility while providing greater flexibility to invest in high-return growth opportunities. Continued deleveraging also strengthens investor confidence, improving the company's appeal in both equity and debt markets. Additionally, lower financing costs support profitability and cash flow generation, ultimately driving stronger long-term shareholder returns.
As the debt burden declines, Occidental gains greater financial flexibility to expand its core Permian Basin operations and invest in low-carbon businesses such as carbon capture. This ongoing financial discipline strengthens the company's resilience and competitive edge while supporting long-term shareholder value creation.
Lower Debt Levels Expand Financial FlexibilityFor oil and gas companies, reducing debt improves financial flexibility, lowers financing costs and strengthens balance sheets. A healthier financial position enables them to better withstand commodity price volatility, invest in high-return opportunities and enhance shareholder returns, while supporting long-term growth and competitiveness.
Companies such as BP plc (BP - Free Report) and ConocoPhillips (COP - Free Report) have benefited significantly from deleveraging efforts. By lowering debt and reducing interest expenses, both companies have strengthened cash flow generation and improved financial resilience. Their stronger balance sheets have provided greater flexibility to fund growth initiatives and return capital to shareholders through dividends and share repurchases, reinforcing long-term value creation.
OXY’s Earnings Estimates Moving NorthThe Zacks Consensus Estimate for Occidental’s 2026 and 2027 earnings per share indicates an increase of 27.53% and 26.92%, respectively, in the past 60 days.
Image Source: Zacks Investment Research
OXY’s Price PerformanceOccidental’s shares have gained 29.7% in the past six months compared with the Zacks Oil and Gas-Integrated-United States industry’s rally of 17.8%.
Image Source: Zacks Investment Research
Occidental’s Return on Invested CapitalReturn on Invested Capital (“ROIC”) measures how efficiently a company uses its debt and equity capital to generate profits. It reflects management’s ability to create value from invested funds. Generally, a higher ROIC indicates more effective capital allocation and stronger value creation, while a lower ROIC may signal less efficient use of capital.
Occidental’s ROIC is higher than the industry average in the trailing 12 months. ROIC of OXY was 4.03% compared with the industry average of 3.88%.
Image Source: Zacks Investment Research
OXY’s Zacks RankOccidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Akcie APA uzavřely na 33,03 USD s poklesem o 2,65 %, zatímco trh rostl. S&P 500 vzrostl o 1,09 %, Dow o 0,14 % a Nasdaq o 1,91 %. Očekává se, že společnost vykáže zisk 1,79 USD na akcii, což by znamenalo meziroční růst o 105,75 %.
APA (APA - Free Report) closed at $33.03 in the latest trading session, marking a -2.65% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Prior to today's trading, shares of the oil and natural gas producer had lost 13.71% lagged the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of APA in its upcoming release. On that day, APA is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 105.75%. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 4.39% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.6 per share and a revenue of $9.29 billion, representing changes of +48.54% and +0.75%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.55% upward. APA is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 6.06. This expresses a discount compared to the average Forward P/E of 9.26 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 108, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Akcie APA vzrostly za poslední rok o téměř 63 %, což překonalo výkon společností Chord Energy a SM Energy, a to díky důvěře v provozní pokrok a budoucí projekty.
Key Takeaways APA shares are up nearly 63% in a year, outperforming Chord Energy and SM Energy.APA trades at about 7.3X forward earnings, below the subindustry's 9.5X multiple.Suriname's GranMorgu project could drive long-term growth, with first oil targeted for mid-2028. APA Corporation (APA - Free Report) has delivered a strong run, with its shares rising nearly 63% in the past year. The rally raises a fair question: is APA still attractive, or has the market already priced in most of the upside? The answer looks balanced. APA has stronger execution, a deep Permian base, improving costs and a major future catalyst in Suriname. At the same time, investors must consider commodity-price risk, Egypt exposure, debt and the long wait before Suriname contributes meaningfully. Compared with Chord Energy (CHRD - Free Report) , which is more focused on the Williston Basin, and SM Energy (SM - Free Report) , which is scaling its U.S. shale platform after the Civitas deal, APA offers a different mix of near-term cash flow and long-term offshore growth.
Price Performance Shows APA’s Strong Momentum
APA’s one-year gain easily tops Chord Energy, up 17.7%, and SM Energy, down 1.5%. The outperformance reflects improved confidence in APA’s operating progress, cash generation and future project pipeline. Still, a rally of this size raises the bar. CHRD has a simpler Williston-focused story built around steady production, long laterals and shareholder returns. SM is trying to improve scale, reduce debt and capture merger synergies. APA sits between these peers, with a large Permian position, international assets and a visible offshore catalyst.
1-Year Price Performance Comparison Image Source: Zacks Investment Research
Earnings Estimates and Valuation Remain Supportive
APA’s earnings picture is mixed. The Zacks Consensus Estimate for 2026 EPS indicates a 49% increase, supported by cost savings, better operating efficiency and cash flow from gas trading. However, the 2027 estimate points to a 36% decline, suggesting that analysts expect some normalization after a stronger 2026.
Image Source: Zacks Investment Research
Valuation, however, remains positive. APA trades at around 7.3 times forward earnings, below the subindustry’s 9.5X. That discount shows the market is still cautious about debt, geopolitical exposure and commodity sensitivity.
Suriname Could Be the Hidden Value Driver for APA
APA’s Suriname position may be the most important part of the long-term story. The GranMorgu development in offshore Block 58, being advanced with TotalEnergies, includes more than 750 million barrels of estimated recoverable resources tied to the Sapakara and Krabdagu discoveries. Production is expected through a floating production, storage and offloading unit with a capacity of 220,000 barrels per day, with first oil targeted for mid-2028. That gives APA a growth lever beyond its mature production base. Chord Energy does not have a comparable offshore project, while SM Energy is mainly focused on U.S. shale. For APA, GranMorgu could become a high-margin oil and free cash flow engine after 2028. The project is already approved, and a carry arrangement helps reduce APA’s near-term funding burden.
Image Source: APA Corporation
Operational Discipline Strengthens the Case
APA’s current business is anchored by the Permian and Egypt. The Permian accounts for most adjusted production and offers more than 10 years of economic inventory. Management has reduced drilling and completion costs in the Permian, lowered drilling costs in Egypt and continues to target meaningful run-rate savings by year-end 2026. The company is also working toward a $3 billion net debt target, while gas trading provides another source of cash flow. Chord Energy also emphasizes capital returns and balance sheet strength, while SM uses divestitures and synergies to improve leverage. APA’s advantage is that it combines operational discipline with a larger future project.
APA’s Risks Should Keep Expectations Realistic
APA remains exposed to oil and gas price swings. While oil prices have cooled somewhat following the U.S.-Iran deal, easing some of the geopolitical supply-risk premium, this could become a factor for APA going forward if crude prices remain under pressure. Weak Permian gas pricing, including Waha-related pressure, can also hurt realized prices and lead to curtailments. Egypt adds geopolitical and fiscal risk, while U.K. taxes remain a headwind. Suriname is promising, but first oil is not expected until mid-2028, so investors must wait for the biggest catalyst. APA also carries a broader and more complicated portfolio than CHRD and a different risk profile than SM Energy. If commodity prices fall further or GranMorgu faces delays, the stock could struggle after its strong one-year advance.
Conclusion
APA stock still looks reasonably attractive for investors seeking value, cash flow and long-term oil growth, but it is not an obvious buy after a significant rally. The valuation discount, ongoing cost reductions and Suriname upside support the investment case, while debt, commodity-price volatility, Egypt exposure, and the long lead time before Suriname contributes meaningfully, warrant some caution. Overall, the stock offers a balanced mix of opportunity and risk at the current levels. Given this risk-reward profile, APA stock is currently a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
