Apple vykázal rekordní výsledky za čtvrtletí končící v červnu, ale marže klesají a výhled je opatrný. Analytik proto snížil doporučení ze Strong Buy na Hold.
SummaryApple Inc. delivered record June quarter results, but margin erosion and a cautious outlook prompted a downgrade from Strong Buy to Hold.AAPL's gross margin, excluding tariff refunds, is declining sharply—projected to fall nearly 3 percentage points in six months as memory costs surge.Supply constraints and rising component prices are set to pressure AAPL's September quarter results, with revenue growth guided below Street expectations.China revenue has rebounded to record levels even before Apple Intelligence launches, but near-term margin and supply headwinds outweigh this positive. Getty Images
Apple Inc. (AAPL) has just posted the best June quarter in the company’s history, with records nearly everywhere you looked and growth in every part of the world where it sells. And yet, the market thanked it with
4.52K Followers
Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Meta za poslední měsíc klesla o 10,47 % po zklamání za 2. čtvrtletí, kdy EPS 6,18 USD minul odhad 7,22 USD. Tržby 60,80 miliardy USD naopak překonaly očekávání.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Meta Platforms currently trades at $599.12, while Wall Street’s consensus price target sits at $756.95, implying roughly 26.3% upside.
The company behind Facebook, Instagram, WhatsApp, and Threads spent much of the past year as one of the Magnificent Seven‘s steadier performers. A bruising Q2 report and rising anxiety over AI capex have sliced Meta Platforms (NASDAQ:META | META Price Prediction) into the lower end of its 12-month range. The gap between price and consensus deserves unpacking, because the Street’s highest analyst thinks it should be far wider.
The Q2 Miss That Sliced 10% From the Stock Meta fell 10.47% over the past month after a Q2 print that snapped a six-quarter EPS beat streak. Revenue of $60.80 billion beat expectations by 0.85% and grew 27.96% year over year, but EPS of $6.18 missed the $7.22 estimate by 14.42%. The miss stemmed from $2.40 billion in youth-related legal charges and $1.18 billion in severance from a May headcount reduction of roughly 8,000 employees. Operating margin compressed to 31% from 43%, and free cash flow collapsed 91.31% to $784 million as quarterly capex hit $30.12 billion.
Shares dropped from $597.37 to $527.50 in the hour after the release before clawing back part of the loss. It was company-specific weakness. Alphabet rallied on strong Cloud numbers the same week, and the S&P 500 gained through the stretch. Meta raised the low end of FY2026 total expenses to $165 billion to $169 billion and lifted its remaining-year tax rate assumption to 15% to 17%.
Why Analysts Refuse to Downgrade Sell-side conviction has barely budged. Of the 62 analysts covering Meta, 55 rate it Buy, 7 rate it Hold, and none rate it Sell. The $756.95 average target still implies solid upside despite the miss.
The most aggressive call comes from Barton Crockett at Rosenblatt Securities, who maintains a Buy with a Street-high $1,117 target, implying roughly 86% returns over the next year. The thesis: layering autonomous agents onto WhatsApp’s business messaging footprint could power automated customer support, storefronts, and sales execution for millions of merchants at high margin.
Meta’s nuclear Power Purchase Agreements with Oklo, Vistra, TerraPower, and Constellation, totaling over 7.7 gigawatts offers a way to de-risk the AI infrastructure buildout without straining the balance sheet. Ad ranking gains are already showing up in the numbers (an 8.3% increase in ad clicks and a 15.7% uplift in conversions on Facebook from the new Meta Generative Recommender) plus a Family of Apps base of 3.60 billion daily active people. The bull case argues the market is punishing a one-quarter cost surge rather than repricing long-term earnings power.
Peers Held Up as Meta Slid Alphabet (NASDAQ:GOOGL) trades at $343.80 versus a $428.04 target for roughly 24.5% upside. Shares are down 8.96% on the week but up 71.53% over the past year on a Q2 blowout. Consensus tilts heavily Buy, with 58 Buys and 6 Holds. Wall Street sees slightly less upside here than at Meta.
Pinterest (NYSE:PINS) trades at $23.75 against a $28.97 target for about 22.0% upside. The stock is down 30.54% year over year despite a solid Q2 beat, hurt by retail-ad exposure. Ratings split roughly evenly between Buy and Hold, with the smallest implied upside in the group.
Snap (NYSE:SNAP) trades at $5.51 versus a $7.28 target for 32.1% upside. Ratings are far weaker: mostly Holds, a handful of Buys, and three Sell-side ratings. Shares are down 31.72% year to date.
Snap holds the largest consensus upside at 32%, but on shakier conviction. Meta ranks second on consensus math yet carries the strongest sentiment tilt, and Rosenblatt’s Street-high call is the single largest target across the peer set.
How Far Behind the S&P 500 Meta Has Fallen Meta shares trade at $599.12 with a $756.95 consensus target and 26.3% implied upside. The recent stretch shows the dislocation: Meta is off 10.47% over the past month, 9.08% year to date, and 21.52% over the past year, while the S&P 500 is up 2.07% for the month, 13% year to date, and 21.17% over the year.
Valuation supports the bull view: trailing P/E of 22, forward P/E near 18, and FCF yield near 3.5% before the AI capex cycle peaks. Polymarket traders assign just 42% probability that Meta closes this week above $600, so short-term crowd sentiment is far more cautious than the consensus target.
Weighing the Bull and Bear Cases The bull thesis rests on the AI capex cycle producing the returns management projects. Ad ranking gains are already visible, over one million businesses are using Meta business agents weekly on WhatsApp and Messenger, and if even two of the four monetization vectors (recommender lift, agents, glasses, and enterprise compute) scale on schedule, the $756.95 consensus and even Rosenblatt’s $1,117 target look reasonable.
The bear case sees this as the top of a spending arms race that eats operating income faster than AI can monetize it. Free cash flow collapsed 91% last quarter, youth-litigation trials are queued through year-end, and FY2026 expense guidance of $165 billion to $169 billion leaves no cushion for another surprise.
On balance, Meta is compounding revenue at 28% and funding its future entirely with cash from core apps. That setup warrants close monitoring, particularly on any further weakness in the shares.
Contact [email protected] for any questions or corrections.
Microsoft po silném čtvrtletí získal podporu Wall Street: z 54 analytiků ho 14 hodnotí jako Strong Buy, 40 jako Buy a 3 jako Hold, žádný nedává Sell. Azure vzrostl o 43 % a poprvé překonal 100 miliard USD ročních tržeb.
Microsoft (NASDAQ:MSFT | MSFT Price Prediction) has climbed back into the spotlight after a blockbuster Q4 report, and Wall Street is nearly unanimous on where it goes next. Of 54 analysts covering the stock, 14 rate it Strong Buy, 40 Buy, and just 3 Hold, with zero sell ratings. Our own model agrees, and then some.
The 24/7 Wall St. price target for Microsoft is $604.39, implying 19.96% upside from the current price of $503.81. Our recommendation is buy with high confidence at 90%.
24/7 Wall St. Price Target Summary Metric Value Current Price $503.81 24/7 Wall St. Price Target $604.39 Upside 19.96% Recommendation BUY Confidence Level 90% From Post-Earnings Surge to a $100B Azure Milestone Microsoft has run 30.83% over the past month and 2.23% in the past week, though shares are still 2.67% below where they traded a year ago. The stock sits roughly 2% off its 52-week high of $550.24, well above the 52-week low of $349.20.
The July 29 Q4 FY2026 report was the catalyst. Microsoft posted revenue of $90.01 billion, up 17.75% YoY, and non-GAAP EPS of $4.74 versus a $4.24 estimate, an 11.81% beat and the fifth straight quarter of topping expectations.
Azure grew 43% and crossed $100 billion in annual revenue for the first time, while commercial remaining performance obligations vaulted 84% to $678 billion. Copilot paid seats topped 30 million.
The Case for $620 and Higher Bulls point to RPO of $678 billion, meaning Microsoft has locked in years of cloud revenue before it hits the income statement. Azure’s 43% growth is accelerating.
Copilot monetization is scaling faster than projected, and management retains optionality on OpenAI, where Microsoft holds roughly a 27% stake worth an estimated $135 billion. Our bull scenario points to $629.58, or 24.96% upside, if AI monetization continues surprising to the upside.
What Could Go Wrong Capex is the big variable. FY26 capital expenditures reached $115.95 billion, up 109.6%, and Q4 free cash flow fell 23.2% despite record earnings. Bulls counter that this is investment in AI infrastructure fueling that $678 billion RPO backlog, not wasted spend.
Insider selling has picked up, and prediction markets show only a 55% probability of MSFT closing above $500 this week. Our bear case lands at $517.36, essentially flat, if capex returns underwhelm.
How Microsoft Compares to Alphabet and Oracle Google (NASDAQ:GOOGL) is the cleanest hyperscaler comparison. Google Cloud grew 82% in Q2 2026 to $24.77 billion, faster than Azure, yet Alphabet trades at just a 15 P/E. That gap makes Microsoft’s 28 P/E look full, though MSFT commands a premium for margin quality and Copilot’s enterprise lock-in.
Oracle (NYSE:ORCL) is the pure-play AI infrastructure comp. Oracle’s IaaS revenue grew 93% YoY in Q4 FY26, and its RPO stands at $638 billion, comparable to Microsoft’s $678 billion but on a $419 billion market cap. Oracle’s growth rate is higher, but Microsoft delivers 40.3% net margins versus Oracle’s negative free cash flow. The peer set makes our $604.39 target look reasonable.
Company P/E Cloud Growth Microsoft 28 43% (Azure) Alphabet 15 82% (Google Cloud) Oracle n/a 93% (IaaS) Microsoft Price Prediction 2026-2030 The 24/7 Wall St. price target of $604.39 reflects a buy with 90% confidence. Microsoft is sitting on $678 billion of contracted commercial commitments, a backlog that anchors years of forward cloud revenue.
I’d be a buyer if Azure holds a 40%+ growth rate through FY27. I’d stay on the sidelines if capex growth outpaces cloud revenue growth for two straight quarters. The risk-reward favors ownership.
Year 24/7 Wall St. Price Target 2026 $604.39 2027 $605.73 2028 $700.20 2029 $752.66 2030 $837.87 These projections assume Microsoft continues converting its RPO backlog into recognized revenue and holds cloud operating margins in the mid-40s. Significant upside or downside could result from AI monetization surprises or a sharper-than-expected capex cycle.
Contact [email protected] for any questions or corrections.
Meta a Nvidia tento týden vydaly vývojářům zdarma otevřené modely AI, čímž se postavily proti uzavřeným modelům OpenAI a Anthropic. Meta zároveň vrací své nejvýkonnější modely do open-source ekosystému.
Last month, American tech giants came together to urge policymakers not to place "premature restrictions" on open-weight AI models, even if they're from China. Now, two of those companies are making a concerted effort to compete by introducing their own open offerings.
Meta and Nvidia both released artificial intelligence models this week that are available for developers to download for free via the open-source ecosystem, a contrast to the popular proprietary models from OpenAI and Anthropic.
Open-source AI has become a contentious topic from Silicon Valley to Washington, D.C., with critics raising concerns about the potential national security risks of Chinese models, and of the AI training practice called distillation, which can be viewed as a form of intellectual property theft. Meanwhile, most of the industry's leading players contend that restricting use of the models would be to our own detriment and would place too much power in the hands of too few companies.
"The age of AI can be one of prosperity," the consortium of tech companies wrote in an open letter on July 24. "With the right choices, open weight AI can expand opportunity, strengthen competition, extend American technological leadership, mitigate risk, and ensure that the benefits of this extraordinary technology are shared broadly across our economy."
As for distillation, they call it "a widely used technique for model improvement, evaluation, and validation."
watch now
Meta on Monday released Muse Glimmer as part of a strategy to release its most powerful AI models to the open-source community. CEO Mark Zuckerberg said the company would open the weights for its latest AI model, Muse Spark 1.2. Weights refer to the calculations and rules that determine how the AI works and behaves.
A day later, Nvidia debuted Nemotron 3.5 Lightning. The model stems from the company's Nemotron 3 family of models released in December. The chipmaker said its models are "truly open source," because the company publishes the related "training datasets, techniques, and model weights" for developers to inspect.
Both companies still have to prove there's an audience for their offerings in a market featuring popular models from Chinese AI labs like Moonshot AI and DeepSeek, as well as Alibaba's Qwen.
Box CEO Aaron Levie, one of the signatories of last month's letter, is optimistic. He said Zuckerberg's plan for Muse Spark 1.2 is a "very big deal" because it's a powerful model that rivals top foundation models from Anthropic and OpenAI. The models this week from Meta and Nvidia are smaller and intended to run on laptops for tasks like powering on-device digital agents.
"There's a very firm flag in the ground that America will have near-frontier open-source models," Levie said.
Meta has tried this route in the past with Llama. That was Zuckerberg's initial entry into the foundation AI market, but the release of Llama 4 in April 2025 left developers unimpressed. Meta followed by spending billions of dollars to overhaul its AI unit, installing Scale AI CEO Alexandr Wang as the division's leader.
Recently, Wang's group has been rolling out proprietary models under the Muse branding to try and develop new revenue streams.
'Tremendous amount of potential'Levie said that companies put off by using Chinese open-weight AI models would be more inclined to experiment with Meta's upcoming variant.
"You probably wouldn't be able to put a non-domestic open-source model in a major government agency, as an example, and you wouldn't be able to use it at very large banks most likely," Levie said. "If you think about the kind of use cases that now Muse can be used in, it actually opens up a tremendous amount of potential."
Still, Meta in particular faces some headwinds as it pursues yet another open-source strategy. Umesh Sachdev, CEO of business AI startup Uniphore, said Meta burned bridges with third-party developers when it shifted from open weight to proprietary AI models.
"I think it's going to take more than a 3,500 worded article from Zuck to convince developers," Sachdev said regarding Zuckerberg's accompanying manifesto this week. "The emotion of my developers at Uniphore, they almost feel betrayed."
But Sachdev said he's rooting for domestic companies to succeed, "because more competition will drive down token cost, and will drive up innovation, and it's always good for consumers."
It's a sentiment shared by Forrester analyst Charlie Dai. He called Meta's latest move "strategically important because it restores a major U.S. frontier AI vendor to the open ecosystem."
"Developers and enterprises will likely welcome Meta's shift back toward open weights because it improves transparency, customization, deployment flexibility, and data sovereignty," Dai said. Now, the company must "prove it can cultivate a durable ecosystem beyond releasing competitive models," he said.
WATCH: Meta's new AI model is a "positive development for the ecosystem."
Home Depot oznámil, že generální ředitel Ted Decker si bere na několik měsíců dočasnou zdravotní dovolenou. Vedení mezitím převezmou Ann-Marie Campbell a Richard McPhail.
Home Depot CEO Ted Decker is taking a "temporary medical leave of absence" for the next few months and the company has appointed two top deputies to lead until he returns, the retailer announced on Wednesday.
Ann-Marie Campbell, Home Depot's senior executive vice president of U.S. stores and operations, will oversee day-to-day operations while finance chief Richard McPhail will run financial management and the Pro business, the company said.
Lead independent director of the board, Greg Brenneman, will take over as chair of the board during Decker's leave. The board of directors made the appointments but they were "in alignment with Decker's recommendation," the company said.
"The Home Depot has the best management team in retail. Both Ann-Marie and Richard are strong, seasoned executives who have worked together for more than 20 years," Brenneman said in a news release. "We are confident in Ann-Marie's and Richard's ability to lead the company during this time, and we look forward to Ted's return."
The announcement comes just under a week before the company is set to announce fiscal second quarter earnings on Tuesday. Home Depot didn't provide further details on Decker's condition.
Campbell, 61, has worked for Home Depot since 1985, starting as a cashier before working her way up to EVP of stores and operations. McPhail, 56, has been Home Depot's chief financial officer since September 2019 and joined the company in 2005.
Both of the executives aren't receiving additional pay for taking on the increased responsibilities, according to a securities filing.
Stanley Black & Decker investuje v USA 1 miliardu USD do inovací, vývoje nových nástrojů a posílení výroby. Součástí je i 60 milionů USD na rozvoj kvalifikovaných řemesel.
, /PRNewswire/ -- As U.S. infrastructure investment accelerates, the construction sector faces a critical challenge: deploying cutting-edge tools and technologies to boost productivity while closing a widening skilled trades gap, with nearly half a million new workers needed by 2027. Against this backdrop, Stanley Black & Decker (NYSE: SWK) is investing $1 billion in the U.S. to advance innovation, develop next-generation tools and solutions, and increase access to training opportunities to expand the skilled trades workforce.
"Our U.S. investment strategy has multiple dimensions and goes far beyond expanding manufacturing - it's about igniting innovation, building world-class capabilities, and redefining the future of work in America," said Chris Nelson, Stanley Black & Decker's President and Chief Executive Officer. "By leaning into research and development and investing in the future of our U.S. operations, we are setting the benchmark for next-generation products and solutions. These investments will empower America's tradespeople to work safer, reach new levels of productivity, and rise to help solve the nation's toughest challenges. This is how we plan to lead America forward - by building, competing, and innovating."
Of the $1 billion Stanley Black & Decker plans to invest through 2028, approximately 50% will go to research and development to accelerate the creation of next-generation tools and breakthrough solutions for trades professionals. The other 50% will support capital expenditures and long-term investments to further strengthen its U.S. manufacturing footprint and support new product development. In addition, Stanley Black & Decker has committed to investing $60 million through its DEWALT Grow the Trades initiative through 2030 - of which $27 million has already been deployed - to expand training programs and open new pathways to rewarding careers in the skilled trades.
"By advancing technology, investing in U.S. manufacturing and expanding training to skilled trades Stanley Black & Decker is helping to build a stronger workforce and a more resilient future for communities across the nation," said Nelson.
Jay Timmons, President and CEO of the National Association of Manufacturers, underscored the far-reaching impact of Stanley Black & Decker's investment in the United States. "For more than 180 years, Stanley Black & Decker has helped define what it means to make things in America - innovating, investing and creating opportunities for manufacturing workers and the communities they serve. Their commitment to strengthening U.S. manufacturing and empowering America's manufacturers exemplifies the leadership our nation needs. These investments not only reinforce our industrial foundation - they open doors to new economic opportunities and secure a brighter future for communities across the country. This is the kind of vision that propels our industry forward."
About Stanley Black & Decker
Founded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company's approximately 41,000 employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world's builders, tradespeople and DIYers. The Company's world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: www.stanleyblackanddecker.com or follow Stanley Black & Decker on Facebook, Instagram, LinkedIn and X.
Forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, are made in this press release, including statements concerning Stanley Black & Decker's investment, innovation and philanthropy initiatives and anticipated benefits from such initiatives. These forward-looking statements are sometimes identified from the use of forward-looking words such as "believe," "should," "could," "potential," "continue," "expect," "project," "estimate," "predict," "anticipate," "aim," "intend," "plan," "forecast," "target," "is likely," "will," "can," "may" or "would" or the negative of these terms or similar expressions elsewhere in this press release. All forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, Stanley Black & Decker's ability to successfully implement its investment strategy, macroeconomic and geopolitical conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's risk factors and cautionary statements contained in its filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's expectations as of the date of this press release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.
Alameda Research uvolnila 201 740 SOL po téměř pěti letech stakingu a převedla celkem 201 780 SOL do custodial peněženky BitGo. Trh to sleduje jako možný mimoburzovní prodej dlouho nehybných zásob.
Alameda Research, the cryptocurrency arm of the bankrupt FTX, has moved a significant amount of Solana (SOL) holdings again after nearly five years. According to information reported by the on-chain data platform Onchain Lens, Alameda unlocked 201,740 SOL, removing it from its staking position, and then transferred a total of 201,780 SOL to a BitGo-owned custodial wallet.
The transfer has reinforced expectations that Alameda is preparing to divest its long-dormant SOL holdings. On-chain data suggests the transaction may have been conducted for over-the-counter (OTC) sale via BitGo, rather than a direct sale of the tokens on exchanges.
OTC transactions stand out as a preferred method, especially for selling large amounts of crypto assets. Since conducting large-scale transactions directly in open markets can create sudden selling pressure on prices, institutional investors and large portfolio owners often utilize OTC markets.
Alameda’s release of SOL assets that had been staked for approximately five years also increases the significance of the transfer. Releasing assets locked in staking transactions allows their owners to reuse or sell them.
While it’s stated that the transfer doesn’t necessarily mean a sale, the movement to BitGo’s custodial wallet is being closely watched in the crypto market. The liquidation of assets in the Alameda and FTX bankruptcy proceedings continues to be a significant topic in the crypto market in recent years.
Large SOL transfers, in particular, can be interpreted by market participants as an indicator of potential selling pressure. Whether Alameda will actually sell these assets via OTC is yet to be confirmed.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Roughly 28.83% of staked SOL dropped offline on Solana following a routing failure, bringing the network uncomfortably close to the 33.34% mark where transaction finality grinds to a halt. That’s a margin of about 4.5 percentage points between normal operations and a network that can no longer confirm transactions are permanent.
How close was too close Solana’s consensus mechanism, Tower Byzantine Fault Tolerance (BFT), requires roughly two-thirds of all staked SOL, about 66.67%, to actively participate in order to finalize transactions. Flip that around, and it means if more than 33.34% of stake goes dark, the network loses the supermajority it needs. Blocks might still be produced, but nothing gets stamped as irreversible.
At 28.83% offline, Solana was roughly 4.5 percentage points from that cliff. In practical terms, just a few additional large validators going delinquent could have tipped the balance.
Validators that go offline on Solana don’t face slashing penalties, the punitive mechanism some other proof-of-stake chains use to discourage downtime. Instead, they simply stop earning rewards.
Advertisement
Solana’s uptime streak and its limits Before this incident, Solana had been on an impressive run. The network’s last recorded full outage dates back to February 2024, and the official status page had shown all systems operational for over 30 months straight.
A network can keep producing blocks while still being unable to finalize them if enough stake goes delinquent. The 30-month streak refers to full network halts, where block production itself stops. The routing failure exposed a scenario where the chain could remain technically “up” while losing its ability to confirm that transactions are permanent.
Reports from 2026 have shown up to 32 validator delinquencies within a 30-day window on Solana. Most of these stem from mundane causes: hardware failures, misconfigured software, or connectivity problems. What made this incident different was the scale. Having nearly 29% of stake affected simultaneously points to a systemic issue rather than scattered individual failures.
The Alpenglow factor Solana has been working on a major protocol upgrade called Alpenglow, which aims to compress transaction finality down to approximately 100-150 milliseconds.
One notable design philosophy behind Alpenglow is that it prioritizes safety over liveness. The upgrade is built so the network would rather pause block production entirely than risk confirming transactions that might later prove inconsistent.
Alpenglow also introduces a fault-tolerance model that distinguishes between validators that are actively malicious and those that are simply offline due to passive failures like the routing issue that caused this incident.
What this means for Solana’s competitive position The lack of slashing penalties is likely to draw renewed debate. Proponents argue it keeps the validator set accessible and avoids punishing operators for honest mistakes. Critics counter that without meaningful financial consequences for downtime, there’s insufficient incentive for validators to invest in the kind of redundancy that prevents large-scale simultaneous failures.
For SOL holders who stake their tokens, validators that were offline missed out on staking rewards during the downtime, which flows through to their delegators as reduced returns.
Solana’s consensus model is designed to tolerate up to a third of stake going offline, and this incident tested that boundary more aggressively than anything since the February 2024 outage.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Shiba Inu experienced extreme volatility on Australian-based crypto exchange FameEX, briefly soaring to $0.00001004 shortly after its listing on the platform.
Shiba Inu secured a new spot listing on FameEX, giving the meme token access to another trading venue. The exchange announced that it had added SHIB alongside UNUS SED LEO (LEO), with spot trading for the SHIB/USDT and LEO/USDT pairs opening at 10:00 UTC on August 11, 2026.
At the same time, FameEX enabled SHIB deposits and withdrawals, allowing users to transfer the token to and from the exchange.
FameEX described Shiba Inu as a decentralized, community-driven meme token launched on Ethereum in 2020. The exchange also highlighted the broader Shiba Inu ecosystem, including Shibarium and ShibaSwap, as well as companion tokens such as LEASH and BONE.
FameEX is headquartered and registered in Parramatta, New South Wales, Australia, and also operates regional hubs, including an office in Dubai.
SHIB Briefly Surges to $0.00001004 Following the listing, SHIB experienced significant volatility on FameEX. The token briefly surged to $0.00001004, marking a sharp move from its prevailing market price.
The spike appears to have been driven primarily by thin liquidity and heightened volatility surrounding the newly launched trading pair. However, the surge was short-lived. After reaching $0.00001004, SHIB quickly reversed and fell to a low of $0.00000442 on FameEX.
According to FameEX data, SHIB was trading around $0.00000445, representing a 55.48% decline over 24 hours on the exchange. Meanwhile, the token recorded $430,240 in 24-hour trading volume on FameEX.
Shiba Inu Performance on FameEx SHIB Returns Briefly to the Four-Zero Range The brief move to $0.00001004 stands out because SHIB had not traded around the $0.00001 level since January 5, 2026. Since then, the token has suffered a substantial decline, making its temporary return to the $0.00001 region on FameEX notable despite the sharp reversal that followed.
Meanwhile, broader market weakness continues to weigh on Shiba Inu. SHIB has dipped 8.81% over the past seven days and 1.13% over the past 24 hours.
Although SHIB recently climbed as high as 25th in the global cryptocurrency rankings, it has since slipped to 30th. At press time, SHIB carried a market valuation of $2.62 billion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Record annualized recurring revenue, reflecting ongoing execution of the Connect & Scale strategy Record second quarter gross margins Second quarter results exceeded expectations Raising full year 2026 revenue and earnings guidance Board of Directors approves new share repurchase authorization of $1.0 billion , /PRNewswire/ -- Trimble Inc. (Nasdaq: TRMB) today announced financial results for the second quarter of 2026.
Second Quarter 2026 Financial Highlights
Revenue of $972.0 million, up 11 percent on a year-over-year basis, up 10 percent on an organic basis Annualized recurring revenue ("ARR") was $2.51 billion, up 14 percent year-over-year, up 12 percent on an organic basis GAAP operating income was $132.0 million, 13.6 percent of revenue, and non-GAAP operating income was $260.6 million, 26.8 percent of revenue GAAP net loss was $(471.7) million and non-GAAP net income was $200.3 million: the GAAP net loss was driven largely by a $562.0 million impairment of goodwill related to the Transportation and Logistics ("T&L") segment. Diluted loss per share was $(2.02) on a GAAP basis and diluted earnings per share was $0.86 on a non-GAAP basis Adjusted EBITDA was $278.0 million, 28.6 percent of revenue Executive Quote
"We delivered another strong quarter, increasing annualized recurring revenue to a record $2.509 billion, with strong recurring revenue growth across all segments," said Rob Painter, President and CEO of Trimble. "Our Connect and Scale strategy is building momentum with increasingly connected data and workflows across our ecosystem. Trimble is well positioned to accelerate AI-enabled value for customers and shareholders."
New Share Repurchase Authorization
The Board of Directors authorized the repurchase of up to $1.0 billion in shares of the Company's common stock. The stock repurchase authorization does not have an expiration date and replaces the prior authorization of up to $1.0 billion, of which $608.2 million was remaining as of the end of the second quarter of 2026, but is now cancelled.
Under the 2026 stock repurchase program, Trimble may repurchase stock from time to time through accelerated stock repurchase programs, open market transactions, privately negotiated transactions, block purchases, tender offers, or other means. The timing and actual amount of any stock repurchased will depend on a variety of factors, including market conditions, Trimble's stock price, and other available uses of capital, applicable legal requirements, and other factors. This program may be suspended, modified, or discontinued at any time without prior notice.
Forward-Looking Guidance
For the full-year 2026, Trimble expects to report revenue between $3,900 million and $3,950 million, GAAP loss per share of $0.07 to $0.12, and non-GAAP earnings per share of $3.60 to $3.70. GAAP guidance assumes a tax rate of 145.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent. Both GAAP loss and non-GAAP earnings per share assume approximately 234 million shares outstanding.
For the third quarter of 2026, Trimble expects to report revenue between $953 million and $978 million, GAAP earnings per share of $0.39 to $0.44, and non-GAAP earnings per share of $0.83 to $0.88. GAAP guidance assumes a tax rate of 24.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent. Both GAAP and non-GAAP earnings per share assume approximately 234 million shares outstanding.
A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on August 12, 2026 at 8:00 a.m. ET to review its second quarter of 2026 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, https://investor.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/848449078?pwd=RQy4WSHT. Upon registration, dial-in details will be sent via email to the registrant. A replay will also be available on the web at the address above.
About Trimble
Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it's helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: https://www.trimble.com.
Safe Harbor
Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include expectations about our future financial and operational results. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. The Company's results may be adversely affected if the Company is unable to market, manufacture and ship new products, obtain new customers, effectively integrate new acquisitions or consummate divestitures in a timely manner, or get the benefits we are expecting from our joint ventures and partnerships, including with Platform Science. The Company's results could also be negatively impacted due to the general global macroeconomic outlook, including heightened trade tensions and export control restrictions between the U.S. and its trading partners, and associated supply chain disruptions, slowing growth, inflationary pressures, and fluctuations in interest rates, which may affect demand for our products and services, increase our costs and adversely affect our revenues and profitability; the pace at which our dealers work through their inventory; changes in our distribution channels; adverse geopolitical tensions and the ongoing impact of volatility and conflict in the political and economic environment, including the Middle East conflict, and the direct and indirect impact on our business; fluctuations in foreign currency exchange rates; the pace that we transition our business model towards a subscription model; the impact and risks of AI and AI-related developments; the impact of acquisitions or divestitures; the potential that any stock repurchases may not increase the value of our remaining shares, and we may elect not to purchase the full amount allocated under the 2026 stock repurchase program; and our ability to maintain effective internal controls over financial reporting, including our ability to remediate our material weaknesses in our internal controls over financial reporting. Any failure to achieve predicted results could negatively impact the Company's revenue, cash flow from operations, and other financial results. The Company's financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the U.S. Securities and Exchange Commission, including our quarterly reports on Form 10-Q and our annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.
FTRMB
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
Second Quarter of
First Two Quarters of
2026
2025
2026
2025
Revenue:
Product
$ 331.4
$ 292.8
$ 642.6
$ 564.4
Subscription and services
640.6
582.9
1,269.3
1,151.9
Total revenue
972.0
875.7
1,911.9
1,716.3
Cost of sales:
Product
160.1
144.4
318.3
288.1
Subscription and services
120.1
117.3
239.4
237.0
Amortization of purchased intangible assets
16.9
16.1
33.0
32.5
Total cost of sales
297.1
277.8
590.7
557.6
Gross margin
674.9
597.9
1,321.2
1,158.7
Gross margin (%)
69.4 %
68.3 %
69.1 %
67.5 %
Operating expense:
Research and development
177.1
163.3
346.6
321.8
Sales and marketing
176.3
158.4
352.4
311.6
General and administrative
149.7
117.6
276.4
239.1
Restructuring
12.6
4.0
15.5
8.5
Amortization of purchased intangible assets
27.2
26.8
54.3
52.4
Total operating expense
542.9
470.1
1,045.2
933.4
Operating income
132.0
127.8
276.0
225.3
Non-operating (expense) income, net:
Goodwill impairment
(562.0)
—
(562.0)
—
Interest expense, net
(20.9)
(19.4)
(40.4)
(35.0)
Income from equity method investments, net
2.6
2.3
3.4
3.3
Other income, net
3.5
2.6
9.5
6.1
Total non-operating expense, net
(576.8)
(14.5)
(589.5)
(25.6)
(Loss) income before taxes
(444.8)
113.3
(313.5)
199.7
Income tax provision
26.9
24.1
59.3
43.8
Net (loss) income
$ (471.7)
$ 89.2
$ (372.8)
$ 155.9
Loss (earnings) per share:
Basic
$ (2.02)
$ 0.37
$ (1.60)
$ 0.65
Diluted
$ (2.02)
$ 0.37
$ (1.60)
$ 0.64
Shares used in calculating (loss) earnings per share:
Basic
233.0
238.1
233.7
240.7
Diluted
233.0
239.6
233.7
242.9
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
As of
Second Quarter of
Year End
2026
2025
Assets
Current assets:
Cash and cash equivalents
$ 214.4
$ 253.4
Accounts receivable, net
598.1
856.0
Inventories
185.3
186.3
Prepaid expenses
115.3
102.7
Other current assets
231.8
233.5
Total current assets
1,344.9
1,631.9
Property and equipment, net
183.2
182.8
Goodwill
4,826.6
5,239.7
Other purchased intangible assets, net
850.4
924.1
Deferred income tax assets
253.8
260.0
Equity investments
617.4
610.8
Other non-current assets
464.5
462.7
Total assets
$ 8,540.8
$ 9,312.0
Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt
$ 16.4
$ —
Accounts payable
195.3
168.3
Accrued compensation and benefits
166.5
211.7
Deferred revenue
833.9
894.0
Income taxes payable
6.6
17.7
Other current liabilities
191.5
211.7
Total current liabilities
1,410.2
1,503.4
Long-term debt
1,442.9
1,392.2
Deferred revenue, non-current
113.2
104.7
Deferred income tax liabilities
180.9
190.5
Other non-current liabilities
282.8
285.0
Total liabilities
3,430.0
3,475.8
Stockholders' equity:
Common stock
0.2
0.2
Additional paid-in-capital
2,489.9
2,437.9
Retained earnings
2,702.3
3,387.6
Accumulated other comprehensive (loss) income
(81.6)
10.5
Total stockholders' equity
5,110.8
5,836.2
Total liabilities and stockholders' equity
$ 8,540.8
$ 9,312.0
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
First Two Quarters of
2026
2025
Cash flow from operating activities:
Net (loss) income
$ (372.8)
$ 155.9
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
101.0
98.8
Goodwill impairment
562.0
—
Deferred income taxes
5.3
(19.5)
Stock-based compensation
85.1
76.3
Other, net
(6.8)
36.6
(Increase) decrease in assets:
Accounts receivable, net
250.4
202.7
Inventories
5.5
12.6
Other current and non-current assets
(23.4)
(6.4)
Increase (decrease) in liabilities:
Accounts payable
26.8
(12.5)
Accrued compensation and benefits
(43.3)
(65.5)
Deferred revenue
(54.4)
(31.8)
Income taxes payable
(11.0)
(308.5)
Other current and non-current liabilities
(9.4)
(36.6)
Net cash provided by operating activities
515.0
102.1
Cash flow from investing activities:
Divestitures of businesses, net of cash divested
(2.0)
(7.3)
Acquisitions of businesses, net of cash acquired
(230.5)
(4.4)
Purchases of property and equipment
(13.2)
(12.5)
Other, net
0.4
(3.0)
Net cash used in investing activities
(245.3)
(27.2)
Cash flow from financing activities:
Issuance of common stock, net of tax withholdings
(32.5)
(23.1)
Repurchases of common stock
(329.0)
(677.4)
Proceeds from debt and revolving credit lines
795.8
348.3
Payments on debt and revolving credit lines
(729.5)
(227.3)
Other, net
(7.2)
(3.1)
Net cash used in financing activities
(302.4)
(582.6)
Effect of exchange rate changes on cash and cash equivalents
(6.3)
25.8
Net decrease in cash and cash equivalents
(39.0)
(481.9)
Cash and cash equivalents - beginning of period (1)
253.4
747.8
Cash and cash equivalents - end of period
$ 214.4
$ 265.9
(1) Includes $9.0 million of cash and cash equivalents classified as held for sale as of January 3, 2025.
REPORTING SEGMENTS
(In millions)
(Unaudited)
Reportable Segments
AECO
Field Systems
T&L
Second Quarter of 2026
Segment revenue
$ 388.5
$ 442.5
$ 141.0
Cost of sales
61.2
177.3
34.1
Operating expense
208.3
119.4
73.0
Operating income
$ 119.0
$ 145.8
$ 33.9
Operating income %
30.6 %
32.9 %
24.0 %
Second Quarter of 2025
Segment revenue
$ 350.3
$ 392.7
$ 132.7
Cost of sales
59.7
161.9
33.6
Operating expense
184.2
109.8
70.5
Operating income
$ 106.4
$ 121.0
$ 28.6
Operating income %
30.4 %
30.8 %
21.6 %
Reportable Segments
AECO
Field Systems
T&L
First Two Quarters of 2026
Segment revenue
$ 779.6
$ 851.7
$ 280.6
Cost of sales
123.9
352.3
68.5
Operating expense
413.6
235.6
144.4
Operating income
$ 242.1
$ 263.8
$ 67.7
Operating income %
31.1 %
31.0 %
24.1 %
First Two Quarters of 2025
Segment revenue
$ 685.7
$ 751.9
$ 278.7
Cost of sales
118.6
316.1
78.2
Operating expense
369.1
208.2
145.8
Operating income
$ 198.0
$ 227.6
$ 54.7
Operating income %
28.9 %
30.3 %
19.6 %
GAAP TO NON-GAAP RECONCILIATION
(Dollars in millions, except per share data)
(Unaudited)
Second Quarter of
First Two Quarters of
2026
2025
2026
2025
Dollar Amount
% of Revenue
Dollar Amount
% of Revenue
Dollar Amount
% of Revenue
Dollar Amount
% of Revenue
REVENUE:
GAAP revenue:
$ 972.0
$ 875.7
$ 1,911.9
$ 1,716.3
GROSS MARGIN:
GAAP gross margin:
$ 674.9
69.4 %
$ 597.9
68.3 %
$ 1,321.2
69.1 %
$ 1,158.7
67.5 %
Amortization of purchased intangible
assets
(A)
16.9
16.1
33.0
32.5
Stock-based compensation / deferred
compensation
(C)
3.8
4.2
8.0
8.5
Restructuring and other costs
(D)
2.5
0.4
2.8
0.6
Non-GAAP gross margin:
$ 698.1
71.8 %
$ 618.6
70.6 %
$ 1,365.0
71.4 %
$ 1,200.3
69.9 %
OPERATING EXPENSES:
GAAP operating expenses:
$ 542.9
55.9 %
$ 470.1
53.7 %
$ 1,045.2
54.7 %
$ 933.4
54.4 %
Amortization of purchased intangible assets
(A)
(27.2)
(26.8)
(54.3)
(52.4)
Acquisition / divestiture items
(B)
(23.9)
(2.7)
(29.8)
(11.6)
Stock-based compensation / deferred compensation
(C)
(40.5)
(36.6)
(80.0)
(69.8)
Restructuring and other costs
(D)
(13.8)
(8.0)
(19.9)
(20.1)
Non-GAAP operating expenses:
$ 437.5
45.0 %
$ 396.0
45.2 %
$ 861.2
45.0 %
$ 779.5
45.4 %
OPERATING INCOME:
GAAP operating income:
$ 132.0
13.6 %
$ 127.8
14.6 %
$ 276.0
14.4 %
$ 225.3
13.1 %
Amortization of purchased intangible assets
(A)
44.1
42.9
87.3
84.9
Acquisition / divestiture items
(B)
23.9
2.7
29.8
11.6
Stock-based compensation / deferred compensation
(C)
44.3
40.8
88.0
78.3
Restructuring and other costs
(D)
16.3
8.4
22.7
20.7
Non-GAAP operating income:
$ 260.6
26.8 %
$ 222.6
25.4 %
$ 503.8
26.4 %
$ 420.8
24.5 %
NON-OPERATING EXPENSE, NET:
GAAP non-operating expense, net:
$ (576.8)
$ (14.5)
$ (589.5)
$ (25.6)
Acquisition / divestiture items
(B)
(5.5)
(2.6)
(9.6)
(7.9)
Deferred compensation
(C)
(0.9)
(2.9)
(2.9)
(2.0)
Restructuring and other costs
(D)
2.8
2.8
4.7
2.9
Goodwill impairment
(E)
562.0
—
562.0
—
Non-GAAP non-operating expense, net:
$ (18.4)
$ (17.2)
$ (35.3)
$ (32.6)
Tax Rate %
Tax Rate %
Tax Rate %
Tax Rate %
(G)
(G)
(G)
(G)
INCOME TAX PROVISION:
GAAP income tax provision:
$ 26.9
(6.0) %
$ 24.1
21.3 %
$ 59.3
(18.9) %
$ 43.8
21.9 %
Non-GAAP items tax effected
(F)
15.0
11.9
22.0
23.6
Non-GAAP income tax provision:
$ 41.9
17.3 %
$ 36.0
17.5 %
$ 81.3
17.4 %
$ 67.4
17.4 %
NET (LOSS) INCOME:
GAAP net (loss) income:
$ (471.7)
$ 89.2
$ (372.8)
$ 155.9
Amortization of purchased intangible assets
(A)
44.1
42.9
87.3
84.9
Acquisition / divestiture items
(B)
18.4
0.1
20.2
3.7
Stock-based compensation
(C)
43.4
37.9
85.1
76.3
Restructuring and other costs
(D)
19.1
11.2
27.4
23.6
Goodwill impairment
(E)
562.0
—
562.0
—
Non-GAAP tax adjustments
(F)
(15.0)
(11.9)
(22.0)
(23.6)
Non-GAAP net income:
$ 200.3
$ 169.4
$ 387.2
$ 320.8
DILUTED NET (LOSS) INCOME PER SHARE:
GAAP diluted net (loss) income per share:
$ (2.02)
$ 0.37
$ (1.60)
$ 0.64
Amortization of purchased intangible assets
(A)
0.19
0.18
0.37
0.35
Acquisition / divestiture items
(B)
0.08
—
0.09
0.02
Stock-based compensation
(C)
0.19
0.16
0.36
0.31
Restructuring and other costs
(D)
0.08
0.05
0.12
0.10
Goodwill impairment
(E)
2.40
—
2.40
—
Non-GAAP tax adjustments
(F)
(0.06)
(0.05)
(0.09)
(0.10)
Non-GAAP diluted net income per share:
$ 0.86
$ 0.71
$ 1.65
$ 1.32
ADJUSTED EBITDA:
GAAP operating income:
$ 132.0
13.6 %
$ 127.8
14.6 %
$ 276.0
14.4 %
$ 225.3
13.1 %
Amortization of purchased intangible assets
(A)
44.1
42.9
87.3
84.9
Acquisition / divestiture items
(B)
23.9
2.7
29.8
11.6
Stock-based compensation / deferred compensation
(C)
44.3
40.8
88.0
78.3
Restructuring and other costs
(D)
16.3
8.4
22.7
20.7
Non-GAAP operating income:
260.6
26.8 %
222.6
25.4 %
503.8
26.4 %
420.8
24.5 %
Depreciation expense and cloud computing amortization
12.0
12.3
23.8
24.3
Income from equity method investments, net
5.4
5.0
8.1
6.9
Adjusted EBITDA:
$ 278.0
28.6 %
$ 239.9
27.4 %
$ 535.7
28.0 %
$ 452.0
26.3 %
First Two Quarters of
2026
2025
FREE CASH FLOW:
Net cash provided by operating
activities
$ 515.0
$ 102.1
Capital expenditures
13.2
12.5
Free cash flow
$ 501.8
$ 89.6
Third Quarter of 2026
Year 2026
Low End
High End
Low End
High End
FORECASTED DILUTED NET INCOME (LOSS) PER SHARE:
Forecasted GAAP diluted net income (loss) per share:
$ 0.39
$ 0.44
$ (0.07)
$ (0.12)
Amortization of purchased intangible assets
(A)
0.19
0.19
0.74
0.74
Acquisition / divestiture items
(B)
0.06
0.06
0.16
0.16
Stock-based compensation
(C)
0.15
0.15
0.67
0.67
Restructuring and other costs
(D)
0.08
0.08
0.23
0.23
Goodwill impairment
(E)
—
—
2.40
2.40
Non-GAAP tax adjustments
(F)
(0.04)
(0.04)
(0.53)
(0.38)
Forecasted non-GAAP diluted net income per share:
$ 0.83
$ 0.88
$ 3.60
$ 3.70
FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION
This press release includes GAAP financial measures as well as non-GAAP financial measures, which are not meant to be considered in isolation or as a substitute for comparable GAAP measures. We believe non-GAAP financial measures provide useful information to investors and others in understanding our "core operating performance", which excludes (i) the effect of non-cash items and certain variable charges not expected to recur and (ii) transactions that are not meaningful in comparison to our past operating performance or not reflective of ongoing financial results. Lastly, we believe that our core operating performance offers a supplemental measure for period-to-period comparisons and can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors.
The non-GAAP definitions and explanations to the adjustments to comparable GAAP measures are included below:
Non-GAAP Definitions
Non-GAAP gross margin
We define Non-GAAP gross margin as GAAP gross margin, excluding the effects of amortization of purchased intangible assets, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP gross margin as a way of understanding how product mix, pricing decisions, and manufacturing costs influence our business.
Non-GAAP operating expenses
We define Non-GAAP operating expenses as GAAP operating expenses, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe this measure is important to investors evaluating our non-GAAP spending in relation to revenue.
Non-GAAP operating income
We define Non-GAAP operating income as GAAP operating income, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP operating income trends, which are driven by revenue, gross margin, and spending.
Non-GAAP non-operating expense, net
We define Non-GAAP non-operating expense, net as GAAP non-operating expense, net, excluding goodwill impairment, acquisition/divestiture items, deferred compensation, and restructuring and other costs. We believe this measure helps investors evaluate our non-operating expense trends.
Non-GAAP income tax provision
We define non-GAAP income tax provision as the GAAP income tax provision adjusted for the tax effects of the non-GAAP pre-tax adjustments (A) through (E), excluding certain tax charges and benefits such as net deferred tax impacts resulting from tax amortization related to a non-U.S. intercompany transfer of intellectual property and certain acquisitions, deferred tax impacts from net controlled foreign corporation tested income ("net CFC tested income", formerly referred to as global intangible low-taxed income or "GILTI"), significant reserve releases upon the expiration of statute of limitations and audit closures, and tax law changes. We believe this measure helps investors because it provides for consistent treatment of excluded items in our non-GAAP presentation.
Non-GAAP net income
We define Non-GAAP net income as GAAP net (loss) income, excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. This measure provides a supplemental view of net income trends, which are driven by non-GAAP income before taxes and our non-GAAP tax rate.
Non-GAAP diluted net income per share
We define Non-GAAP diluted net income per share as GAAP diluted net (loss) income per share, excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. We believe our investors benefit by understanding our non-GAAP operating performance as reflected in a per share calculation as a way of measuring non-GAAP operating performance by ownership in the Company.
Adjusted EBITDA
We define Adjusted EBITDA as non-GAAP operating income plus depreciation expense, cloud computing amortization, and income from equity method investments, net, which excludes our proportionate share of items such as amortization of purchased intangibles, stock-based compensation, and restructuring costs. Other companies may define Adjusted EBITDA differently. Adjusted EBITDA is a performance measure that we believe offers a useful view of the overall operations of our business because it facilitates operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, depreciation, amortization of purchased intangibles and cloud computing costs, and income from equity method investments, net.
Free cash flow
We define free cash flow as cash flow from operating activities minus capital expenditures. We believe this measure is important to investors evaluating our generation of cash flow.
Explanations of Non-GAAP adjustments
(A)
Amortization of purchased intangible assets. Non-GAAP gross margin and operating expenses exclude the amortization
of purchased intangible assets, which primarily represents technology and/or customer relationships already developed.
(B)
Acquisition / divestiture items. Non-GAAP gross margin and operating expenses exclude costs consisting of external
and incremental costs resulting directly from acquisitions, divestitures, and strategic investment activities such as legal,
due diligence, integration, and other costs, including the acceleration of acquisition stock awards and adjustments to the
fair value of earn-out liabilities. Non-GAAP non-operating expense, net, excludes one-time acquisition/divestiture
charges, including foreign currency exchange rate gains/losses related to an acquisition, divestiture gains/losses, and
strategic investment gains/losses. These are one-time costs that vary significantly in amount and timing and are not
indicative of our core operating performance.
(C)
Stock-based compensation / deferred compensation. Non-GAAP gross margin and operating expenses exclude stock-
based compensation and income or expense associated with movement in our non-qualified deferred compensation plan
liabilities. Changes in non-qualified deferred compensation plan assets, included in non-operating expense, net, offset the
income or expense in the plan liabilities.
(D)
Restructuring and other costs. Non-GAAP gross margin and operating expenses exclude restructuring costs composed
of termination benefits related to reductions in employee headcount and other cost-saving initiatives, closure or exit of
facilities, and cancellation of certain contracts, and other costs composed of one-time incremental expenses resulting
from the re-audit and related remediation of control deficiencies. Non-GAAP non-operating expense net, excludes our
proportionate share of items recorded in income from equity method investment items, such as goodwill impairment,
amortization of purchased intangibles, stock-based compensation, and restructuring costs.
(E)
Goodwill Impairment. Non-GAAP non-operating expense, net excludes the goodwill impairment charge related to our
T&L segment. The impairment was triggered by a sustained decline in market capitalization and stock price reflecting
heightened macroeconomic uncertainty and lower market multiples for software businesses.
(F)
Non-GAAP items tax effected. This amount represents the income tax effect of non-GAAP pre-tax adjustments,
excluding certain tax charges and benefits, which reconcile the GAAP income tax provision to the non-GAAP income
tax provision.
(G)
Tax rate percentages. These percentages are defined as GAAP income tax provision as a percentage of GAAP income
before taxes and non-GAAP income tax provision as a percentage of non-GAAP income before taxes.
OTHER KEY METRICS
Annualized Recurring Revenue
In addition to providing non-GAAP financial measures, Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company's current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue. ARR is calculated by taking our subscription and maintenance and support revenue for the current quarter and adding the portion of the contract value of all our term licenses attributable to the current quarter, then dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.
Organic Annualized Recurring Revenue
Organic annualized recurring revenue refers to annualized recurring revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.
Organic Revenue
Organic revenue refers to revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.
Odborníci na Prader-Willi syndrom varovali před bezpečnostními riziky léku Vykat XR od Neurocrine kvůli hlášeným závažným nežádoucím účinkům, včetně otoků, dýchacích a srdečních komplikací. Akcie Neurocrine v premarketu klesly o 6,1 %.
The offices of Neurocrine Biosciences in San Diego, California, U.S. June 30, 2026. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab
CompaniesAug 12 (Reuters) - Experts in Prader-Willi Syndrome on Tuesday raised safety concerns over Neurocrine's (NBIX.O), opens new tab drug Vykat XR, citing serious adverse events reported in patients with the rare genetic disorder.
Vykat XR was approved last year to treat hyperphagia or feelings of intense and persistent hunger, the hallmark symptom of Prader-Willi syndrome, a genetic disorder caused by deletions on chromosome 15 that affect gene expression, or how genes turn on and off.
Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.
In a joint statement, Foundation for Prader-Willi Research and the International Prader-Willi Syndrome Organisation said serious adverse events - including edema, respiratory complications and cardiac complications - had been reported through post-marketing surveillance since Vykat XR became more widely available.
Neurocrine shares fell 6.1% in premarket trading on Wednesday.
According to the statement, the U.S. Food and Drug Administration's Adverse Event Monitoring System (AEMS) showed seven reports of death linked to patients taking the drug as of July 31.
Peripheral edema and the drug being ineffective were the highest reported reactions on FDA's AEMS.
"VYKAT XR has a compelling risk-benefit profile in the context of a very serious disease. Neurocrine conducted extensive diligence on the safety profile, including adverse event data, during our process to acquire Soleno," said Neurocrine.
It added it is "engaged with the FDA, patient advocacy communities and prescribers to continue to assess all available data from postmarketing surveillance as the prescribing population expands."
Earlier this year, Neurocrine bought Soleno for $2.9 billion, gaining access to Vykat XR.
The joint statement said the reports were concerning and patients and families deserved transparency regarding the drug's safety profile.
They stressed, however, the reports do not establish a causal relationship between Vykat XR and the reported outcomes.
"The purpose of this new statement is not to discourage the use of VYKAT XR. Rather, it is to encourage informed prescribing, careful patient selection, and close monitoring, particularly for individuals with known risk factors," the statement said.
Stat News was the first to report on the matter.
Reporting by Puyaan Singh in Bengaluru, additional reporting by Sriparna Roy; Editing by Vijay Kishore
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Neurocrine Biosciences uvedla, že INGREZZA v 24týdenní studii zlepšila kvalitu života a každodenní fungování pacientů s tardivní dyskinezí. Přibližně 58 % pacientů dosáhlo remise příznaků.
INGREZZA is the only vesicular monoamine transporter 2 inhibitor with clinical trial data demonstrating improvements in quality of life and functionality in people living with tardive dyskinesia across multiple validated patient-reported outcomes Mean improvements in the patient-reported impacts of tardive dyskinesia and clinician-rated movement severity exceeded established thresholds for clinically meaningful change at Week 24, with improvements observed regardless of underlying psychiatric diagnosis or baseline movement severity Approximately 58% of patients met the threshold for tardive dyskinesia symptomatic remission at Week 24, based on clinician assessment of movement severity Findings reinforce that even patients with mild tardive dyskinesia movements are impacted and can experience meaningful improvements in movement severity, quality of life and functionality with INGREZZA treatment , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced publication of the KINECT-PRO™ Phase 4 open-label study results demonstrating that treatment with once-daily INGREZZA® (valbenazine) capsules resulted in substantial and sustained improvements in patient-reported quality of life and functionality, alongside improvements in clinician-rated tardive dyskinesia (TD) movement severity. Improvements were observed regardless of underlying psychiatric diagnosis or baseline TD movement severity, including among participants with clinician-rated mild TD movements. The manuscript appears in CNS Spectrums.
KINECT-PRO is currently the only study to assess the effects of a vesicular monoamine transporter 2 (VMAT2) inhibitor (INGREZZA) on quality of life and functionality using multiple validated patient-reported outcomes (PROs), including the Tardive Dyskinesia Impact Scale (TDIS™). TDIS, developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry, is a unique, psychometrically validated tool that measures the impact and burden of TD from a patient's perspective. Together with clinician-rated assessments, these findings provide a more comprehensive understanding of how treatment may affect both TD movements and the impact of the disease on patients' daily lives.
"The KINECT-PRO clinical study incorporated validated patient-reported measures, including the Tardive Dyskinesia Impact Scale, to better understand the effects of treating tardive dyskinesia with INGREZZA on patient-reported quality of life and functioning," said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. "These findings add to the extensive body of evidence supporting the meaningful improvements INGREZZA has on movement severity and quality of life and functionality."
"Quality of life and day-to-day functioning are important considerations when evaluating the impact of tardive dyskinesia and treatment goals," said Christoph U. Correll, M.D., Professor of Psychiatry, The Zucker Hillside Hospital and primary author of the manuscript. "These findings showed improvements with INGREZZA in both clinician-rated movement severity and patient-reported daily impact and reinforced the potential for meaningful benefit across a broad range of patients regardless of baseline movement severity or underlying psychiatric diagnosis."
KINECT-PRO evaluated improvements in outcomes that matter to patients
The primary endpoints of KINECT-PRO were changes from baseline to Week 24 in three validated patient-reported measures of quality of life and functionality, including:
TDIS: Measures the physical, social and emotional impacts of TD. EuroQoL Visual Analogue Scale (EQ-VAS): Measures patients' self-rated overall health status. The Sheehan Disability Scale (SDS): Measures patient-reported functional impairment in work/school, social life and family/home life. Secondary endpoints evaluated clinician- and patient-reported changes in TD severity using the Abnormal Involuntary Movement Scale (AIMS), the Patient Global Impression of Change (PGI-C) and the Clinical Global Impression of Severity-TD (CGI-TD-S). Fifty-nine patients were enrolled in the KINECT-PRO study and received once-daily INGREZZA (40 mg, 60 mg or 80 mg) for up to 24 weeks. At baseline, approximately 41% of patients (24/59) had clinician-rated mild TD movement severity, while approximately 59% (35/59) had clinician-rated moderate or severe TD movement severity. Approximately 46% of patients (27/59) had schizophrenia or schizoaffective disorder, and approximately 54% (32/59) had major depressive disorder or bipolar disorder. Fifty-two patients completed the Week 24 visit.
Patients experienced improvements in quality of life, functionality and movement severity
KINECT-PRO participants experienced substantial improvements across the three validated patient-reported measures of quality of life (TDIS, SDS and EQ-VAS), as well as improvements in clinician-reported TD severity.
Mean improvements in TD impact (TDIS) and movement severity (AIMS) exceeded established minimal clinically important difference (MCID) thresholds as early as Week 8 and Week 4, respectively, and were sustained to Week 24. Improvements were observed regardless of underlying psychiatric condition or TD movement severity at baseline. Even patients with milder clinician-rated TD movement severity were impacted by TD at baseline and experienced clinically meaningful improvements by Week 24, including a -6.8 mean change from baseline in TDIS and a -5.6 mean change from baseline in AIMS. Approximately 58% of patients (26/45) met the threshold for TD symptomatic remission at Week 24, defined as a movement severity score of 0 ("none") or 1 ("minimal") in each of the seven body regions assessed by AIMS. Safety and tolerability of treatment were consistent with the known profile of INGREZZA, with no new concerns identified.
Mean Change from Baseline at Week 24
TDIS†
(MCID -4)
SDS -
Social Life†
SDS -
Family Life†
EQ-VAS‡
AIMS Total
Score†
(MCID -2)
Overall Population
(n=45)*
-8.0
-2.3
-1.6
+13.1
-6.8
Mild TD Subgroup
(n=20)
-6.8
-1.8
-1.3
+12.8
-5.6
Moderate/Severe
TD Subgroup
(n=25)
-8.9
-2.8
-1.8
+13.3
-7.8
*52/59 (88%) completed the Week 24 visit; 45 were included for efficacy analyses.
†A decrease in score indicated improvement.
‡An increase in score indicated improvement.
About the KINECT-PRO™ Phase 4 Study
The KINECT-PRO™ Phase 4, open-label study was designed to evaluate patient-reported outcomes on the use of INGREZZA® (valbenazine) capsules in a tardive dyskinesia (TD) patient population reflective of real-world clinical practice. Participants had at least mild TD, were aware of and experiencing at least mild distress from their abnormal, involuntary movements and had a clinical diagnosis of schizophrenia, schizoaffective disorder, bipolar disorder or major depression. The KINECT-PRO study included a four-week screening period, a 24-week treatment period during which participants received 40 mg of INGREZZA once-daily for the first four weeks, followed by flexible dosing of 40 mg, 60 mg or 80 mg once-daily based on individual treatment needs and a two-week safety follow-up period. Baseline socio-demographic and clinical characteristics of the participants were broadly similar to those of the KINECT® 3 and KINECT® 4 studies.
KINECT-PRO is the first and only study to specifically evaluate and demonstrate patient-reported improvement with vesicular monoamine transporter 2 inhibitor treatment on TD using multiple clinically validated scales, including the Tardive Dyskinesia Impact Scale (TDIS™). The TDIS is the only patient-reported outcome instrument designed for and psychometrically validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition.
About the Tardive Dyskinesia Impact Scale
The Tardive Dyskinesia Impact Scale (TDIS™) is the only patient-reported outcome instrument designed for and validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition. It was developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry from qualitative studies and Phase 3 trials of INGREZZA for the treatment of TD (KINECT® 3 and KINECT® 4) as a comprehensive measure of impact and burden of TD from a patient's perspective. The TDIS consists of 11 questions evaluating physical and socio-emotional impact. Six scales are assessed: mouth/throat, dexterity, mobility, pain, social and emotional. The TDIS allows people with TD to rate how their symptoms affect daily activities and how their uncontrollable movements make them feel. The questionnaire captures relevant information about the impact of TD to provide a more holistic assessment of the condition. Validation of this scale was published in the Journal of Patient-Reported Outcomes.
About the EQ Visual Analogue Scale and the Sheehan Disability Scale
The EQ Visual Analogue Scale (EQ-VAS) is the second component of the 5-level EQ 5D (EQ-5D-5L). The EQ-VAS is a visual scale ranging from 0 "the worst health you can imagine" to 100 "the best health you can imagine" that assesses a patient's self-rated health, with higher scores indicating better health status.
The Sheehan Disability Scale (SDS) is a five-item, patient-reported outcome measure which includes social, family and occupational life domains. Three items assess impairment in terms of work/school, social life and family life/home responsibilities and are scored independently (0 [not impaired] to 10 [extremely impaired]) or combined for a total score (0 to 30). Two items assess number of days lost or underproductive. A decrease in score indicates improvement.
About Tardive Dyskinesia
Tardive dyskinesia (TD) is a movement disorder that is characterized by uncontrolled, abnormal and repetitive movements of the face, torso and/or other body parts, which may be disruptive and negatively impact patients. The condition is associated with taking certain kinds of mental health medicines (antipsychotics) that help control dopamine receptors in the brain. Taking antipsychotics commonly prescribed to treat mental illnesses such as major depressive disorder, bipolar disorder, schizophrenia and schizoaffective disorder and other prescription medicines (metoclopramide and prochlorperazine) used to treat gastrointestinal disorders are associated with TD. In patients with TD, these treatments are thought to result in irregular dopamine signaling in a region of the brain that controls movement. The symptoms of TD can be mild to severe and are often persistent and irreversible. TD is estimated to affect at least 800,000 adults in the U.S.
About INGREZZA® (valbenazine) Capsules and INGREZZA® SPRINKLE (valbenazine) Capsules
INGREZZA is a selective vesicular monoamine transporter 2 (VMAT2) inhibitor approved by the U.S. Food and Drug Administration for the treatment of adults with tardive dyskinesia and the treatment of chorea associated with Huntington's disease (HD). Only INGREZZA offers a therapeutic dose from day one with no required titration.
INGREZZA, developed by Neurocrine Biosciences, selectively inhibits VMAT2 with no appreciable binding affinity for VMAT1, dopaminergic (including D2), serotonergic, adrenergic, histaminergic or muscarinic receptors. While the specific way INGREZZA works to treat TD and HD chorea is not fully understood, INGREZZA is unique in that it selectively and specifically targets VMAT2 to inhibit the release of dopamine, a chemical in the brain that helps control movement. INGREZZA is believed to reduce extra dopamine signaling, which may lead to fewer uncontrollable movements.
INGREZZA is studied across the widest range of patients. It is always one capsule, once daily and can be taken together with most stable mental health regimens such as antipsychotics or antidepressants. Only INGREZZA offers the benefit of a sprinkle formulation, INGREZZA SPRINKLE, for those who experience dysphagia, have difficulty swallowing or prefer not to swallow a pill. INGREZZA and INGREZZA SPRINKLE dosages approved for use are 40 mg, 60 mg and 80 mg capsules.
Important Information
Approved Uses
INGREZZA® (valbenazine) capsules or INGREZZA® SPRINKLE (valbenazine) capsules are prescription medicines used to treat adults with:
movements in the face, tongue, or other body parts that cannot be controlled (tardive dyskinesia). involuntary movements (chorea) of Huntington's disease. INGREZZA or INGREZZA SPRINKLE do not cure the cause of involuntary movements, and do not treat other symptoms of Huntington's disease, such as problems with thinking or emotions. It is not known if INGREZZA or INGREZZA SPRINKLE is safe and effective in children.
IMPORTANT SAFETY INFORMATION
INGREZZA or INGREZZA SPRINKLE can cause serious side effects in people with Huntington's disease, including: depression, suicidal thoughts, or suicidal actions. Tell your healthcare provider before you start taking INGREZZA or INGREZZA SPRINKLE if you have Huntington's disease and are depressed (have untreated depression or depression that is not well controlled by medicine) or have suicidal thoughts. Pay close attention to any changes, especially sudden changes, in mood, behaviors, thoughts, or feelings. This is especially important when INGREZZA or INGREZZA SPRINKLE is started and when the dose is changed. Call your healthcare provider right away if you become depressed, have unusual changes in mood or behavior, or have thoughts of hurting yourself.
Do not take INGREZZA or INGREZZA SPRINKLE if you:
are allergic to valbenazine, or any of the ingredients in INGREZZA or INGREZZA SPRINKLE. INGREZZA or INGREZZA SPRINKLE can cause serious side effects, including:
Allergic reactions. Allergic reactions, including an allergic reaction that causes sudden swelling called angioedema, can happen after taking the first dose or after many doses of INGREZZA or INGREZZA SPRINKLE. Signs and symptoms of allergic reactions and angioedema include: trouble breathing or shortness of breath, swelling of your face, lips, eyelids, tongue, or throat, or other areas of your skin, trouble with swallowing, or rash, including raised, itchy red areas on your skin (hives). Swelling in the throat can be life-threatening and can lead to death. Stop taking INGREZZA or INGREZZA SPRINKLE and go to the nearest emergency room right away if you develop these signs and symptoms of allergic reactions and angioedema. Sleepiness and tiredness that could cause slow reaction times (somnolence and sedation). Do not drive a car or operate dangerous machinery until you know how INGREZZA or INGREZZA SPRINKLE affects you. Drinking alcohol and taking other medicines may also cause sleepiness during treatment with INGREZZA or INGREZZA SPRINKLE. Heart rhythm problems (QT prolongation). INGREZZA or INGREZZA SPRINKLE may cause a heart rhythm problem known as QT prolongation. You have a higher chance of getting QT prolongation if you also take certain other medicines during treatment with INGREZZA or INGREZZA SPRINKLE. Tell your healthcare provider right away if you develop any signs or symptoms of QT prolongation, including: fast, slow, or irregular heartbeat (heart palpitations), shortness of breath, dizziness or lightheadedness, or fainting or feeling like you are going to faint. Neuroleptic Malignant Syndrome (NMS). NMS is a serious condition that can lead to death. Call a healthcare provider right away or go to the nearest emergency room if you develop these symptoms and they do not have another obvious cause: high fever, stiff muscles, problems thinking, irregular pulse or blood pressure, increased sweating, or very fast or uneven heartbeat. Parkinson-like symptoms. Symptoms include: body stiffness, drooling, trouble moving or walking, trouble keeping your balance, shaking (tremors), or falls. Before taking INGREZZA or INGREZZA SPRINKLE, tell your healthcare provider about all of your medical conditions including if you: have liver or heart problems, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Make sure you tell all of your healthcare providers that you are taking INGREZZA or INGREZZA SPRINKLE. Taking INGREZZA or INGREZZA SPRINKLE with certain other medicines may cause serious side effects. Especially tell your healthcare provider if you: take digoxin or take or have taken a monoamine oxidase inhibitor (MAOI) medicine. You should not take INGREZZA or INGREZZA SPRINKLE if you are taking, or have stopped taking, a MAOI within the last 14 days.
The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with tardive dyskinesia are sleepiness and tiredness.
The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with chorea associated with Huntington's disease include sleepiness and tiredness, raised itchy red areas on your skin (hives), rash, and trouble getting to sleep or staying asleep.
These are not all of the possible side effects of INGREZZA or INGREZZA SPRINKLE. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088.
Dosage Forms and Strengths: INGREZZA and INGREZZA SPRINKLE are available in 40 mg, 60 mg, and 80 mg capsules.
Please see full Prescribing Information, including Boxed Warning, and Medication Guide.
About Neurocrine Biosciences, Inc.
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)
The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, YOU DESERVE BRAVE SCIENCE, KINECT and INGREZZA are registered trademarks of Neurocrine Biosciences, Inc. KINECT-PRO and TDIS are trademarks of Neurocrine Biosciences, Inc.
Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from INGREZZA, the interpretation and potential relevance of the data described in this press release, including statements regarding clinically meaningful improvements in patient-reported quality of life and functional capacity and clinician-rated movement severity among patients with tardive dyskinesia, and the value INGREZZA may bring to patients. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties as to whether the data described in this press release will be replicated in additional studies or will be predictive of efficacy or other clinical outcomes in subsequent clinical studies or real-world use of INGREZZA; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general, as well as risks and uncertainties associated with the commercialization of INGREZZA; whether INGREZZA receives adequate reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for INGREZZA; risks associated with the Company's dependence on third parties for development and manufacturing activities related to INGREZZA, and the ability of the Company to manage these third parties; risks that additional regulatory submissions for INGREZZA or other product candidates may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding INGREZZA; risks that post-approval INGREZZA commitments or requirements may be delayed; risks that INGREZZA may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.
Aehr Test Systems oznámila navazující objednávku v hodnotě 22 milionů USD od svého hlavního zákazníka na rozšíření kapacity wafer-level burn-in pro AI procesory. Dodávky mají proběhnout během příštích šesti měsíců.
Lead AI processor customer expands production capacity as Aehr sees increasing interest in wafer-level burn-in for advanced AI and high-performance computing devices
FREMONT, CA / ACCESS Newswire / August 12, 2026 / Aehr Test Systems (NASDAQ:AEHR), a leading provider of test and burn-in solutions for semiconductor devices used in artificial intelligence (AI), silicon photonics, data center, automotive, and industrial applications, today announced a $22 million follow-on production order from its lead wafer-level AI processor customer. The customer is a leading provider of advanced AI training and inference processors.
The order supports the customer's continued expansion of production capacity utilizing Aehr's wafer-level burn-in (WLBI) systems and includes multiple fully automated FOX-XP™ WLBI systems, together with Aehr's proprietary FOX WaferPak™ full-wafer Contactors and integrated FOX WaferPak Auto Aligners™. Each FOX-XP system is configured to test and burn in nine 300 mm wafers simultaneously. Aehr expects to ship the systems over the next six months for installation at the customer's high-volume manufacturing partner in Taiwan.
"This $22 million follow-on order represents another significant expansion of WLBI capacity by our lead AI processor customer and further validates the use of our FOX-XP platform in high-volume production," said Gayn Erickson, President and Chief Executive Officer of Aehr Test Systems. "We are encouraged that the customer's current production plans contemplate capacity beyond this order and that we continue to engage with additional semiconductor companies and hyperscalers following positive wafer-level benchmark results.
"We believe this growing interest is being driven in part by the increasing value and complexity of advanced AI semiconductor packages. As AI devices incorporate increasingly valuable processors, high-bandwidth memory (HBM), interface logic, and other die in advanced packages, screening for early-life failures before final assembly can deliver significant quality and economic benefits. We believe these trends are expanding the market opportunity for wafer-level burn-in across AI accelerators, CPUs, network processors and other high-performance computing and semiconductor memory devices."
Aehr's FOX-XP platform enables high-volume WLBI and test before semiconductor devices are singulated and packaged. Each FOX-XP system can simultaneously burn in and test up to nine 300 mm wafers and can be integrated with Aehr's FOX WaferPak Auto Aligner for automated operation in high-volume manufacturing environments.
Aehr's FOX WLBI systems and proprietary WaferPak contactors help identify early-life and latent reliability failures before devices are singulated and incorporated into advanced packages, improving the quality of die entering assembly and reducing the risk of committing high-value HBM, substrates, interposers, and other components to devices that may subsequently fail reliability screening.
The company believes increasing processor performance, power, device value, advanced packaging, and HBM integration may expand the range of AI and high-performance computing applications for which WLBI provides attractive manufacturing economics.
About Aehr Test Systems
Headquartered in Fremont, California, Aehr Test Systems is a leading provider of test solutions for testing, burning-in, and stabilizing semiconductor devices in wafer-level, singulated die, and package-level form, and has installed thousands of systems worldwide. Increasing quality, reliability, safety, and security needs of semiconductors used across multiple applications, including advanced artificial intelligence (AI) processors, silicon photonics, data and telecommunications infrastructure, electric vehicles, electric vehicle charging infrastructure, solar and wind power, computing, and solid-state memory and storage are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr's products and solutions. Aehr has developed and introduced several innovative products including the FOX-PTM families of test and burn-in systems and FOX WaferPakTM Aligner, FOX WaferPak Contactor, FOX DiePak® Carrier and FOX DiePak Loader. The FOX-XP and FOX-NP systems are full-wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize a wide range of devices such as leading-edge silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets, and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices. The FOX-CP system is a low-cost single-wafer compact test solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The FOX WaferPak Contactor contains a unique full-wafer contactor capable of testing wafers up to 300mm that enables IC manufacturers to perform test, burn-in, and stabilization of full wafers on the FOX-P systems. The FOX DiePak Carrier allows testing, burning in, and stabilization of singulated bare die and modules up to 1024 devices in parallel per DiePak on the FOX-NP and FOX-XP systems up to nine DiePaks at a time. Acquired through its acquisition of Incal Technology, Inc., Aehr's new line of high-power package-level reliability/burn-in test solutions for AI semiconductor manufacturers, including its ultra-high-power Sonoma family of test solutions for AI accelerators, GPUs, and high-performance computing (HPC) processors, position Aehr within the rapidly growing AI market as a turnkey provider of reliability and testing that span from engineering to high volume production. For more information, please visit Aehr Test Systems' website at www.aehr.com.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or Aehr's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern Aehr's expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, future requirements and orders of Aehr's new and existing customers; Aehr's ability to receive orders and generate revenue in the future, as well as Aehr's beliefs regarding the factors impacting the foregoing, including the growth of the markets referred to herein; Aehr's ability to integrate Incal efficiently; and the timing and extent to which the acquisition is accretive. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Aehr's recent Form 10-K, 10-Q and other reports filed from time to time with the Securities and Exchange Commission. Aehr disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
ISS Joins Glass Lewis to Recommend Stockholders Vote "FOR" the Transaction Ahead of August 20 Meeting
ISS Highlights Thorough Sales Process, Sound Strategic Rationale, and Opportunity to Participate in Combined Company's Potential Upside
, /PRNewswire/ -- LivePerson (NASDAQ: LPSN) ("LivePerson" or "the Company"), a leading provider of predictable conversational AI, today announced that leading independent proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that LivePerson stockholders vote "FOR" the Company's proposed transaction with SoundHound AI, Inc. (NASDAQ: SOUN) and related proposals ahead of the upcoming Special Meeting of Stockholders on August 20, 2026. ISS joins Glass Lewis, which recommended in favor of the proposed transaction and all related proposals on August 7, 2026.
In its independent analysis, ISS noted, "The sales process appears to have been thorough, the strategic rationale seems sound, and the stock form of consideration gives shareholders the opportunity to participate in the potential upside of a larger entity. In addition, there has been no public opposition to the transaction, and the company has specifically warned of delisting and substantial indebtedness leading to bankruptcy, should the company continue as a standalone entity."
John Sabino, CEO of SoundHound, said, "We are pleased that ISS joined Glass Lewis in recognizing the compelling merits of this transaction. This second major endorsement from a highly respected, independent proxy advisory firm reinforces what our Board has determined throughout this process: joining forces with SoundHound AI represents the most secure, value-maximizing path for our stockholders. ISS's findings make it clear that the transaction provides our investors with potential future upside in a combined, debt-free company, while avoiding the severe risks of remaining a standalone entity."
LivePerson strongly encourages all LivePerson stockholders to follow ISS and Glass Lewis' guidance and vote FOR the proposal ahead of our August 20 Special Meeting. For additional information on the transaction and how to vote, visit VoteLivePerson.com.
VOTE TODAY
Your vote is very important. The Special Meeting is scheduled for August 20, 2026.
Approval of the merger proposal requires the affirmative vote of a majority of all outstanding shares of LivePerson common stock. Not voting has the same effect as voting against the transaction.
Vote today by proxy card, online or by phone. For more information and additional materials visit VoteLivePerson.com, or contact LivePerson's proxy solicitor, MacKenzie Partners, Inc., toll-free at (800) 322-2885 or by e-mail at [email protected].
MacKenzie Partners, Inc.
7 Penn Plaza
New York, NY 10001
Call Toll-Free: (800) 322-2885
Email: [email protected]
Tel Aviv Stock Exchange Voting Information
LivePerson stockholders who hold shares listed on the Tel Aviv Stock Exchange (TASE) and intend to vote their shares must deliver to LivePerson's Israeli counsel, Arnon, Tadmor-Levy, c/o Moshe Pasker, Azrieli Center (Square Tower), Tel Aviv, Israel, 6702101 (email: [email protected]), an ownership certificate confirming their ownership on July 6, 2026. The form of proxy card for stockholders who hold shares listed on the TASE can be found here: https://mayafiles.tase.co.il/rpdf/1759001-1760000/P1759388-00.pdf.
About LivePerson
LivePerson (NASDAQ: LPSN) is an enterprise leader in predictable conversational AI. The world's leading brands use our award-winning Conversational Cloud and Syntrix platforms to connect with millions of customers. We power nearly a billion messages every month, providing uniquely rich data analytics, agent training, and AI evaluation tools to unlock the power of conversational AI for better business outcomes. Learn more at liveperson.com.
Media Contact:
Riah Lawry
[email protected]
Or
Jim Golden / Dylan O'Keefe
Collected Strategies
[email protected]
Investor Relations Contact:
[email protected]
Forward-Looking Statements
This document contains "forward-looking statements" within the meaning of the U.S. federal securities laws about the expectations, beliefs, plans, intentions, prospects, financial results and strategies relating to SoundHound AI's proposed acquisition of LivePerson. Such forward-looking statements include, among others, statements regarding the timing of filing the definitive proxy/prospectus and timing of LivePerson's special meeting, obtaining regulatory approvals, the timing of closing of the proposed acquisition, and the parties' expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including: (1) the occurrence of any event, change, or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between LivePerson and SoundHound; (2) the possibility that the transaction does not close when expected or at all due to the failure to satisfy all of the conditions to closing on a timely basis or at all, including the failure to obtain the required shareholder approvals or to consummate the notes restructuring transactions contemplated by the Notes Restructuring Agreement; (3) the risk that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, trade policy (including tariff levels), laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which LivePerson and SoundHound operate; (4) any failure to promptly and effectively integrate the businesses of LivePerson and SoundHound; (5) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (6) reputational risk and potential adverse reactions of LivePerson's or SoundHound's customers, employees or other business partners, including those resulting from the announcement, pendency or completion of the transaction; (7) the diversion of management's attention and time to the transaction from ongoing business operations and opportunities; and (8) the outcome of any legal proceedings that may be instituted against LivePerson or SoundHound or in connection with the transaction. Further information on factors that could affect the forward-looking statements and expectations above are contained in the filings that LivePerson and/or SoundHound AI have filed, or that will be filed, with the U.S. Securities and Exchange Commission (the "SEC"), including as set forth in the Form S-4 and the proxy statement/prospectus contained therein, as well as the documents incorporated by reference therein.
All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and LivePerson does not undertake or assume any obligation to update publicly any of these statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law.
No Offer or Solicitation
This communication is not intended to be, and shall not constitute, an offer to sell, buy or exchange or the solicitation of an offer to sell, buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Additional Information and Where to Find It
In connection with the proposed transaction, SoundHound AI has filed with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "Form S-4") that includes a definitive proxy statement of LivePerson and that constitutes a prospectus of SoundHound AI with respect to the shares of the SoundHound AI common stock to be issued in the proposed transaction, dated July 9, 2026 (the "proxy statement/prospectus"). The proxy statement/prospectus was filed with the SEC on July 9, 2026 by LivePerson, and the mailing of the proxy statement/prospectus began to LivePerson's stockholders on or about the same date. Each of SoundHound AI and LivePerson may also file other relevant documents with the SEC regarding the proposed transaction.
This communication is not a substitute for the Form S-4, the proxy statement/prospectus or any other document that SoundHound AI or LivePerson has filed, or may file, with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF SOUNDHOUND AI AND LIVEPERSON ARE URGED TO READ THE FORM S-4, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain copies of these documents (if and when available), as well as other filings containing information about SoundHound AI and LivePerson, free of charge on the SEC's website at www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by the Company will be available free of charge on SoundHound AI's website at https://investors.soundhound.com/financial-information/sec-filings. Copies of the documents filed with, or furnished to, the SEC by LivePerson will be available free of charge on LivePerson's website at https://ir.liveperson.com/financial-information/sec-filings. The information included on, or accessible through, SoundHound AI's or LivePerson's website is not incorporated by reference into this communication.
Participants in the Solicitation
SoundHound, LivePerson and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies with respect to the proposed transaction under the rules of the SEC. Information about the directors and executive officers of SoundHound, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in SoundHound's definitive proxy statement for its 2026 annual meeting of stockholders under the heading "Proposal 1 – Election of Directors", which was filed with the SEC on April 9, 2026 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0001840856/000121390026041978/ea0285618-01.htm. Information about the directors and executive officers of LivePerson and their ownership of LivePerson equity interests can be found in the section entitled "Interests of LivePerson Directors and Executive Officers in the Mergers" and "Owners and Management of LivePerson" included in the proxy/prospectus, which was filed with the SEC on July 9, 2026 and is available at https://www.sec.gov/Archives/edgar/data/1102993/000121390026076759/ea0297465-01.htm. Further information about the directors and executive officers of LivePerson may be found in its amendment to its Annual Report on Form 10-K for the year ended December 31, 2025 under the headings "Directors, Executive Officers and Corporate Governance," "Executive Compensation," "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters" and is available at: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001102993/000110299326000020/lpsn-20251231.htm; in the Form 3 and Form 4 statements of beneficial ownership and statements of changes in beneficial ownership filed with the SEC by LivePerson's directors and executive officers; and is in other documents filed by LivePerson with the SEC. Additional information regarding the interests of the participants in the solicitation of proxies will be included in other relevant materials to be filed with the SEC if and when they become available. You should read the Form S-4 and the proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents using the sources indicated above.
Evropský zástupce na poli neocloudu Nebius Group překonal svými hospodářskými výsledky za letošní druhé čtvrtletí očekávání trhu, a to díky pokračujícímu růstu poptávky po AI infrastruktuře a cloudových službách. Investoři reagovali na reportovaná čísla velice pozitivně, neboť akcie Nebiusu vykazují v premarketu růst až o 16 procent.
Společnost se sídlem v Amsterdamu vykázala za čtvrtletí končící v červnu celkové tržby ve výši 582,3 milionu dolarů, zatímco průměrný odhad analytiků oslovených LSEG byl bezmála o deset milionů nižší. Meziročně tržby tak vzrostly o působivých 454 procent.
Hlavním motorem růstu zůstává cloudová divize zaměřená na umělou inteligenci, která se na celkových tržbách skupiny podílí přibližně z 98 procent. Výnosy z tohoto segmentu meziročně vzrostly dokonce o více než 500 procent.
Upravená EBITDA stoupla na 236,2 milionu dolarů (při konsenzu 175 mld. USD) z loňských 21 mld. USD. Anualizované opakující se tržby (ARR) vzrostly mezikvartálně o 58 procent na tři miliardy dolarů.
Nebius také potvrdil svůj celoroční výhled pro letošní rok: ARR zůstává v rozmezí sedm až devět miliard dolarů.
Podle vedení nadále sílí poptávka po výpočetní kapacitě pro AI aplikace, což společnosti umožňuje získávat větší kontrakty s atraktivnějšími maržemi. „Všech cílů, které jsme si pro toto čtvrtletí stanovili, jsme dosáhli. Ve většině případů jsme dokázali ještě více,“ uvedl v dopise akcionářům zakladatel a generální ředitel Arkadij Volož.
Nebius během čtvrtletí uzavřel čtyři významné smlouvy v oblasti AI cloudu. Průměrná celková hodnota každé z nich přesáhla jednu miliardu dolarů. Celková hodnota nasmlouvaných zakázek se oproti předchozímu kvartálu téměř zečtyřnásobila, píše Reuters.
„Uzavřeli jsme naše největší AI cloudové dohody za dosud nejvýhodnějších podmínek a za ceny, které představují zásadní změnu v ekonomice našeho podnikání. Cenovou příležitost vidíme v rozmezí 40–50 milionů dolarů za MW a první jsme podepsali tento týden,“ dodal Volož.
Od začátku roku jsou akcie Nebiusu v plusu zhruba o 115 procent. Po dnešku toto číslo nejspíš nakyne, protože v premarketu se akcie pohybuje mezi +12 % až +17 %.
V segmentu neocloudu se daří také konkurentovi CoreWeave, který reportoval povedené výsledky už ve středu večer. I jeho akcie v premarketu vykazují dvouciferný růst. Více se můžete dočíst ZDE: CoreWeave znovu potvrdil sílu AI boomu. Rekordní zakázky poslaly akcie prudce vzhůru.
SummaryNational Health Investors, Inc. is a REIT trading near 52-week lows, offering a 5.3% yield and a forward P/FFO of 14.5.NHI is rapidly expanding its SHOP platform, targeting 40-50% portfolio exposure within 3 years, aiming for higher revenue and profit growth.Recent FFO softness reflects deliberate investments in SHOP infrastructure, with management guiding for 8-9% SHOP NOI growth in H2 and moderating G&A expense growth.I maintain a Buy rating on NHI, citing discounted valuation, strong balance sheet, and a well-covered, rising dividend supporting a compelling total return outlook.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More » z1b/iStock via Getty Images
Earnings season can be a great time to pick up bargains due to knee-jerk market reactions. This can especially be the case when the long-term investment thesis isn’t broken. Such I find the case with National Health
23.48K Followers
Analyst’s Disclosure: I/we have a beneficial long position in the shares of NHI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Bio-Techne schválila čtvrtletní dividendu 0,08 USD na akcii za období končící 30. června 2026. Splatná bude 28. srpna 2026 akcionářům zapsaným k 17. srpnu 2026.
, /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) announced that its Board of Directors has decided to pay a dividend of $0.08 per share for the quarter ended June 30, 2026. The quarterly dividend will be payable August 28, 2026, to all common shareholders of record on August 17, 2026. Future cash dividends will be considered by the Board of Directors on a quarterly basis.
Bio–Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high–quality reagents, analytical instruments, and precision diagnostics. Its portfolio is organized into three customer–focused brands: R&D Systems™, Bio–Techne Spatial™, and Bio–Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision–making. Bio–Techne operates in 34 locations worldwide and employs approximately 3,000 people. In fiscal year 2026, the company generated over $1.2 billion in net sales. Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories. For more information on Bio-Techne and its brands, please visit www.bio-techne.com or follow the company on social media at LinkedIn, X, or YouTube.
Forward Looking Statements:
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward looking statements in this press release include statements regarding potential future repurchase of Bio-Techne common stock. The following important factors, among others, have affected and, in the future, could affect the Company's actual results and future share price: the effect of new branding and marketing initiatives, the integration of new businesses and leadership, the introduction and acceptance of new products, the funding and focus of the types of research by the Company's customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, customer site closures or supply chain issues, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.
For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
CNS Pharmaceuticals uvedla, že po nadměrně upsané nabídce akcií za 22,5 milionu USD má přibližně 20,0 milionu USD v hotovosti a prodloužený cash runway. Zároveň pokračuje v posunu k diverzifikovanému pipeline.
Company reports approximately $20.0 million cash position and extended operating runway following oversubscribed $22.5 million financing, as it advances its pivot toward a diversified, high-value pipeline
HOUSTON, TX / ACCESS Newswire / August 12, 2026 / CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) ("CNS" or the "Company"), a biotechnology company focused on building a pipeline of innovative therapies addressing significant unmet medical needs, today reported financial results for the second quarter ended June 30, 2026 and provided an update on the corporate strategy the company introduced in March 2026.
"We are moving with speed and discipline to transform this company," said Rami Levin, President and Chief Executive Officer of CNS Pharmaceuticals. "In the second quarter, we significantly strengthened our balance sheet and added new expertise to our Board to enable us to build a differentiated, high-value pipeline of innovative therapies. We are executing with urgency and are confident that the actions we've taken this year strengthen CNS Pharmaceuticals ability to create meaningful value going forward."
Strategic and Corporate Highlights
New corporate strategy in motion. Since announcing its strategic pivot in March 2026 beyond a singular focus on glioblastoma multiforme, the Company has been leveraging its executive team's multi-functional experience across high-value therapeutic areas. As previously stated, the Company expects to in-license or acquire one or more assets by year end 2026.
Oversubscribed $22.5 million financing closed. On May 5, 2026, the Company closed a private placement with institutional investors, including ADAR1 Capital, Ikarian Capital, Stonepine Capital Management and Nazare Partners, generating approximately $22.5 million in gross proceeds ($20.7 million net), significantly reinforcing the Company's capital and shareholder base in support of its new strategy.
Board strengthened with dealmaking depth. The Company appointed Michal Fisher, a life sciences executive with a track record in business development, licensing and capital formation, including prior leadership roles in strategic alliances and corporate development to its Board of Directors in May 2026.
Legacy programs advancing toward closure. The Company's global clinical trial of Berubicin for glioblastoma is complete. The Company is now focused on closing out the study while pursuing out-licensing discussions for both Berubicin and TPI 287.
Since announcing its new corporate strategy in March 2026, the Company has focused on leveraging the experience of its leadership team to identify promising development-stage therapeutic assets that align with its strategy of building a diversified pipeline targeting serious diseases. Management is actively evaluating business development opportunities while maintaining financial discipline and preserving capital for future growth initiatives.
"This quarter reflects the deliberate work of resetting CNS Pharmaceuticals for its next chapter," said Steve O'Loughlin, Chief Financial Officer. "With a fortified balance sheet, extended capital runway, and new shareholder base comprised of biotech focused institutional investors, we are well positioned to execute our strategy with an enhanced ability to transact."
Second Quarter 2026 Financial Results
Cash and cash equivalents were approximately $20.0 million as of June 30, 2026, compared to $7.2 million as of December 31, 2025. The increase primarily reflects the Company's previously announced private placement financing completed in May 2026. The Company believes its existing cash resources are sufficient to fund planned operations beyond the next twelve months as it continues executing its strategic business development initiatives.
Research and development expenses were approximately $1.2 million for the second quarter of 2026, compared to $1.2 million for the same period in 2025. Research and development expenses included activities related to completing and closing out the Berubicin clinical trial, as enrollment and patient treatment have been completed. Future research and development expenses will depend on the timing and nature of any assets the Company acquires or licenses and the associated development activities.
General and administrative expenses were approximately $1.5 million for the second quarter of 2026, compared to $1.2 million for the same period in 2025. The increase was primarily attributable to higher headcount-related expenses, partially offset by lower professional services costs.
Net loss for the second quarter of 2026 was approximately $2.6 million, or $0.37 per basic and diluted share, compared to a net loss of approximately $2.4 million, or $6.42 per basic and diluted share, for the second quarter of 2025.
As of August 14, 2025, the Company had 1,461,449 common shares of stock outstanding and 10,604,928 shares fully diluted including pre-funded warrants that were issued in its May 2026 financing.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is a biotechnology company focused on developing innovative therapies for serious diseases. With an experienced executive team and a focus on high-value therapeutic opportunities, the Company is working to build a differentiated portfolio of assets addressing significant unmet medical needs. CNS is committed to advancing novel treatments that have the potential to improve patient outcomes while creating long-term value for patients and shareholders.
For more information, please visit www.CNSPharma.com, and connect with the Company on X and LinkedIn.
Forward-Looking Statements
Some of the statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this release include, without limitation, statements regarding the Company's strategic transformation and pipeline development plans, the anticipated use of proceeds from the Company's recent $22.5 million financing, the Company's ability to identify and advance new therapeutic assets, expectations regarding the Company's ability to create long-term shareholder value, and key milestones related to the execution of the Company's strategy. These statements relate to future events, future expectations, plans and prospects. Although CNS believes the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. CNS has attempted to identify forward-looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including market and other conditions and those discussed under Item 1A. "Risk Factors" in CNS's most recently filed Form 10-K filed with the SEC and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this press release speak only as of its date. CNS undertakes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events, except as required by law.
Boyd Group Services ve 2. čtvrtletí zvýšila tržby o 29,9 % na 1,0137 miliardy USD a upravený EBITDA o 44,9 % na 135,9 milionu USD. Poprvé v historii překročila čtvrtletní tržby 1 miliardu USD.
Delivering Strong Sales Growth, Margin Expansion and Accelerated Synergy Realization
Second Quarter 2026 Highlights
Sales increased 29.9% to $1,013.7 million Adjusted EBITDA1 increased 44.9% to $135.9 million, with Adjusted EBITDA margins1 expanding 140 basis points to 13.4% New locations contributed $211.3 million to revenue, complemented by 2.9% same-store sales1 growth Achieved $15 million in incremental cost savings from Project 360 and synergy realization Joe Hudson's synergy realization ahead of schedule following completion of shop conversion Pro forma debt leverage improved to 2.8x from 3.1x at the end of 2025 , /PRNewswire/ -- Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("Boyd Group" or "the Company") today announced financial results for the quarter ended June 30, 2026.
"The Boyd team delivered another strong quarter, with sales increasing 30% in the second quarter and Adjusted EBITDA growing 45%. Quarterly revenue surpassed $1 billion for the first time in Boyd's history, while Adjusted EBITDA margins reached 13.4%, up from 12.0% in Q2 2025 and 11.5% in Q2 2024, reflecting the continued benefits of Project 360 and synergy realization.
We also successfully completed the conversion of Joe Hudson's 258 locations during the quarter, accelerating synergy realization, which contributed to the strength in our profitability. Combined with our strong balance sheet, these achievements position us well to continue executing our growth strategy, enhancing profitability and creating long-term value for our shareholders." - Brian Kaner, President & CEO of the Boyd Group
1 Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP financial measures and ratios" section of this news release.
Financial And Operational Highlights
Three months ended
June 30,
Six months ended June 30,
(thousands of U.S. dollars, except per share amounts)
2026
2025
Y/Y Change
2026
2025
Y/Y Change
Financial Highlights
Sales
1,013,652
780,407
30 %
2,010,328
1,558,730
29 %
Gross margin
47.4 %
46.8 %
60 bps
46.9 %
46.5 %
40 bps
Adjusted EBITDA (1)
135,932
93,786
45 %
258,317
174,331
48 %
Adjusted EBITDA margin (1)
13.4 %
12.0 %
140 bps
12.8 %
11.2 %
160 bps
Net earnings (loss)
1,291
5,422
(76) %
(6,635)
2,785
N/A
Basic and diluted loss per share
0.05
0.25
(80) %
(0.24)
0.13
N/A
Adjusted net earnings (1)(2)
22,403
15,267
47 %
38,462
21,841
76 %
Adjusted net earnings per share (1)(2)
0.80
0.71
13 %
1.38
1.02
35 %
Operational Highlights
Same-store sales growth (1)
2.9 %
(2.1) %
2.2 %
(2.5) %
New locations added
10
8
279
17
From multi-location acquisitions
--
258
--
From single shop acquisitions
4
4
7
7
From start-up locations
6
4
14
10
Collision location count at period end
1,321
991
33 %
1,321
991
33 %
(2)
Comparative figures have been restated to conform with current period presentation
Q2 2026 Results
(Second quarter 2026 compared to second quarter of 2025)
Sales increased 29.9% to $1,013.7 million, driven by $211.3 million from 340 new locations that were not in operation for the full comparative quarter and 2.9% same-store sales1 . The second quarter of 2026 had the same number of selling and production days as the prior year period.
Gross profit increased by 31.4% to $480.0 million as gross margins expanded to 47.4% from 46.8% in the second quarter of 2025. Gross margins benefited from increased paint and parts margins, driven by Joe Hudson's synergy realization and Project 360, as well as higher sublet, scanning, and calibration margins. These gains were partially offset by lower labor margins and variability in performance-based pricing.
Adjusted EBITDA1 increased 44.9% to $135.9 million with Adjusted EBITDA margins1 expanding to 13.4% from 12.0% reflecting the contribution from the Joe Hudson's acquisition, which is accretive to Adjusted EBITDA margin1, cost savings from Project 360 and faster than expected synergy realization.
Net earnings was $1.3 million, compared to $5.4 million in the same period of the prior year. Net earnings was impacted by higher depreciation and amortization costs from new location growth, as well as higher finance costs related to the Joe Hudson's acquisition.
Adjusted net earnings1 increased 46.7% to $22.4 million and Adjusted earnings per share increased to $0.80 from $0.71, driven primarily by the increase in Adjusted EBITDA1.
The conversion of Joe Hudson's locations was completed during the quarter, with the timing of synergy realization coming in ahead of expectations. During the second quarter, Boyd realized an incremental $15 million in cost savings from Project 360 and acquisition synergies and a total of $35 million in the first six month of 2026.
Boyd added ten new locations during the quarter, including four single shop acquisitions and six new start up locations.
___________________________________
1Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP financial measures and ratios" section of this news release.
Outlook
Industry repairable-claims volumes showed continued stabilization during the second quarter of 2026. Based on second quarter claims-processing data, the Company estimates that repairable-claims volumes were flat to down 2% year-over-year, representing a meaningful improvement from the declines experienced during the same period in 2025, and consistent with our long-term planning assumptions.
Against this backdrop, Boyd continued to outperform underlying industry volumes and gain market share. This performance reflects the strength of the Company's insurer relationships and underscores the competitive advantage of Boyd's scale and business model. These share gains delivered positive same-store sales growth for the quarter, with only limited contribution from total cost of repair ("TCOR") growth.
In July 2026, same-store sales growth was positive in the low single digits, driven entirely by continued share gains. While TCOR growth continues to face well-documented, short-term transitory pressures, long-term structural tailwinds remain intact. Given the inherent monthly and quarterly variability the Company evaluates same-store sales over longer periods and does not view any single period as indicative of sustainable market share expansion or multi-year strategic targets. Looking ahead, Boyd's scale and network allows it to invest in superior client capabilities, providing multiple company-specific growth paths independent of any single industry variable.
Boyd remains focused on strengthening its position as a leading direct repair program multi-shop operator by deepening insurer relationships, improving opportunity capture and capacity utilization, and expanding its presence in priority markets. The Company expects these initiatives to support continued growth and additional share gains. Boyd also intends to complement organic growth through disciplined acquisitions and new-location development, together with continued investment in glass, scanning, calibration and other adjacent capabilities, while maintaining balance-sheet flexibility.
The Company is accelerating its Project 360 and acquisition cost savings target of $140 million due to faster-than-expected gains from the Joe Hudson's integration. It now expects $35 million in Joe Hudson's synergies in 2026, up from the previous $20 million target. As a result, total cost savings expected in 2026 have increased to $65 million from $50 million, with the remaining $35 million expected to be realized ratably from 2027 to 2029.
The conversion of Joe Hudson's location was successfully completed in the second quarter, establishing a stronger operating foundation and driving meaningful year-over-year profit growth. While the transition has resulted in some temporary sales disruptions that have continued into the third quarter, initiatives focused on throughput and local market execution are driving revenue on a more profitable foundation.
The Company expects to open three new start-up locations during the third quarter and currently has an additional 10 start-up locations targeted for completion in the fourth quarter. Organic expansion is expected to be complemented by single-location acquisitions, supported by the Company's strong balance sheet.
2026 Second Quarter Conference Call & Webcast
Management will hold a conference call on Wednesday, August 12, 2026, at 8:00 a.m. (ET) to review the Company's 2026 second quarter results. You can join the call by dialing 1-833-461-5787 or 1-585-542-9983.
A live audio webcast of the conference call will be available at https://events.q4inc.com/attendee/789326895. An archived replay of the webcast will be available for 90 days on the Boyd Group's website https://www.boydgroup.com.
About Boyd Group Services Inc.
Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at https://www.boydgroup.com.
About The Boyd Group Inc.
Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries ("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade name Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S., under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The Company also operates Mobile Auto Solutions ("MAS") in the U.S. and Volta Auto Diagnostics Ltd. ("Volta") in Canada that offer scanning and calibration services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.
Non-GAAP Financial Measures and Ratios
Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios, which are not standardized measures under International Financial Reporting Standards ("IFRS") and therefore may not be comparable to similar measures disclosed by other issuers. Boyd's management uses certain non-GAAP financial measures to evaluate the performance of the business and to reward employees. These non-GAAP should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS, such as net earnings or sales in measuring the performance of Boyd.
The following is a reconciliation of Boyd's non-GAAP financial measures and ratios used in this release:
SAME-STORE SALES
Same-store sales is a non-GAAP measure that includes only those locations in operation for the full comparative period. Same-store sales is presented excluding the impact of foreign exchange fluctuation on the current period.
Three months ended
June 30,
Six months ended
June 30,
(thousands of U.S. dollars)
2026
2025
2026
2025
Sales
$ 1,013,652
$ 780,407
$ 2,010,328
$ 1,558,730
Less:
Sales from locations not in the comparative period
(211,748)
(465)
(421,675)
(6,276)
Sales from under-performing facilities closed during the period
—
(377)
—
(1,240)
Foreign exchange
(32)
—
(2,924)
—
Same-store sales (excluding foreign exchange)
$ 801,872
$ 779,565
$ 1,585,729
$ 1,551,214
ADJUSTED EBITDA
EBITDA represents an indication of the Company's capacity to generate income from operations before taking into account management's financing decisions and costs of consuming tangible and intangible capital assets, which vary according to their vintage, technological age and management's estimates of their useful life. EBITDA comprises sales less operating expenses before finance costs, capital asset amortization and impairment charges, and income taxes.
Adjusted EBITDA is calculated to exclude items of an unusual nature that do not reflect normal or ongoing operations of BGSI and which should not be considered in a valuation metric or should not be included in an assessment of the ability to service or incur debt. Included as an adjustment to EBITDA are acquisition and transformational cost initiative expenses and fair value adjustments to contingent consideration and financial instruments which do not have a cash impact. These adjustments do not relate to the current operating performance of the business units but are typically costs incurred to expand operations as well as execute transformational plans. Acquisition and transformational costs include transaction costs in acquiring and integrating a business acquisition and other non-recurring costs related to the execution of Project 360. From time to time BGSI may make other adjustments to its Adjusted EBITDA for items that are not expected to recur. Management believes that in addition to net earnings and cash flows, Adjusted EBITDA is useful to readers to provide an indication of earnings from operations and cash available for distribution, both before and after debt management , productive capacity maintenance and non-recurring and other adjustments.
Adjusted EBITDA margin is a measure of operating profit that can be used to assess Boyd's operational performance. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by total sales.
Three months ended
June 30,
Six months ended
June 30,
(thousands of U.S. dollars)
2026
2025
2026
2025
Net earnings (loss)
$ 1,291
$ 5,422
$ (6,635)
$ 2,785
Add:
Finance costs
30,760
18,023
60,835
35,855
Income tax expense
2,023
2,851
1,357
2,561
Depreciation of property, plant and equipment
28,126
21,547
54,792
42,394
Depreciation of right of use assets
43,691
31,799
85,712
63,414
Amortization of intangible assets
20,032
6,868
32,457
13,548
EBITDA
$ 125,923
$ 86,510
$ 228,518
$ 160,557
Add (deduct):
Fair value adjustments
(185)
—
(1,465)
1
Acquisition and transformational cost initiatives
10,194
7,276
31,264
13,773
Adjusted EBITDA
$ 135,932
$ 93,786
$ 258,317
$ 174,331
Sales
$ 1,013,652
$ 780,407
$ 2,010,328
$ 1,558,730
Adjusted EBITDA margin (%)
13.4 %
12.0 %
12.8 %
11.2 %
ADJUSTED NET EARNINGS
Adjusted net earnings means net earnings adjusted to add back fair value adjustments (non-taxable) and acquisition and transformational cost initiatives (net of tax). Commencing in the fourth quarter of 2025, and on a go-forward basis, the calculation of Adjusted net earnings also excludes amortization of intangibles arising on acquisitions. Amortization of intangible assets arising on acquisition is the result of the purchase price allocation on completion of an acquisition. There are no future capital expenditures associated with maintaining or replacing these intangible assets. Comparative periods have been restated to reflect this additional adjustment. BGSI believes that certain users of financial statements are interested in understanding net earnings excluding certain fair value adjustments and other items of an unusual or infrequent nature that do not reflect normal or ongoing operations of the Company. This can assist these users in comparing current results to historical results that did not include such items.
Adjusted net earnings per share means Adjusted net earnings, divided by our weighted average number of shares for the applicable period.
(thousands of U.S. dollars, except share and per share amounts)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
Net earnings (loss)
$ 1,291
$ 5,422
$ (6,635)
$ 2,785
Add (deduct):
Fair value adjustments (net of tax)
(137)
—
(1,084)
1
Acquisition and transformational cost initiatives (net of tax)
7,566
5,384
24,193
10,192
Amortization of intangibles arising on acquisitions (net of tax)
13,683
4,461
21,987
8,863
Adjusted net earnings (1)
$ 22,403
$ 15,267
$ 38,462
$ 21,841
Weighted average number of shares
27,836,295
21,467,807
27,833,160
21,467,695
Adjusted net earnings per share (1)
$ 0.80
$ 0.71
$ 1.38
$ 1.02
(1) Comparative figures have been restated to conform with current period presentation
Caution concerning forward-looking statements
Statements made in this press release, other than those concerning historical information, may be "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws of the U.S. and Canada, respectively (collectively, "forward-looking statements") and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "will", "project", "target", "plan", "goal" or the negative thereof or similar variations.
The forward-looking statements in this press release include, without limitation, statements regarding: Boyd's outlook and expectations regarding performance relative to industry peers; trends and industry conditions; execution of the Company's growth strategy and outlook; progress on Project 360 initiatives; the Company's financial metric goals, including for Adjusted EBITDA margin; growth opportunities presented by the Company's increased scale, greater market density, expanded platform and fragmentation; the Company's ability and expectations to open three start-up locations in the third quarter of 2026 with an additional ten locations to be added through year-end; execute on the pipeline of approximately eight to ten start-up locations per quarter; the Company's ability to activate the stores in its development pipeline for 2026; the Company's expectations for continued acquisition activity and the Company's ability to deliver sustained growth and value creation for shareholders and customers.
Forward-looking statements are subject to significant risks and uncertainties and are based on a number of assumptions and estimates. Forward-looking statements are based on certain assumptions and analyses made by Boyd concerning its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate. A number of factors could cause actual results, performance or achievement to differ materially from those discussed or implied in the forward-looking statements. Risks and uncertainties related to Boyd's business include, but are not limited to, risks and uncertainties relating to: acquisition and new location risk; employee relations and staffing; operational performance; brand management and reputation; market environment change; reliance on technology; corporate governance; decline in number of insurance claims; low capture rates; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; public company costs; foreign private issuer status; differences in Canadian and U.S. corporate and securities laws; enforceability against foreign persons and of foreign judgments; intellectual property; and energy costs; and Boyd's success in anticipating and managing the foregoing risks.
We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Business Risks and Uncertainties" section of Boyd's Annual Information Form, the "Business Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov. All forward-looking statements presented herein should be considered in conjunction with such filings. Readers are cautioned not to place undue reliance on such forward-looking statements, as actual results may differ materially from those expressed or implied in such statements.
The forward-looking statements in this press release reflect the Boyd's current expectations, assumptions and/or beliefs based on information currently available, including with respect to such things as conditions in the collision and auto glass repair business, including weather, accident frequency, cost of repair, miles driven and available repairable vehicles; the Company's ability to complete the integration of acquired businesses within anticipated time periods and at expected cost levels; the Company's ability to achieve synergies arising from successful integration of acquired businesses; the impact of acquisitions on growth; the accuracy and completeness of the information (including financial information) regarding acquired businesses; the absence of significant undisclosed costs or liabilities associated with acquisitions; the successful implementation of margin improvement initiatives; the future performance and results of our business and operations; general economic conditions, industry forecasts and/or trends, the government and regulatory environment and potential impacts thereof. Although the Company believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with those expressed or implied in such forward-looking statements, and they should not be unduly relied upon. There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking statements contained in this presentation describe the expectations of the Company as of the date of this press release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.
SafePal spustil v sekci Earn liquid staking GRAM přes Tonstakers s odhadovaným výnosem až 15 % APY. Pozice zůstává likvidní díky tsTON a výběr má trvat minuty.
Liquid GRAM Staking Is Now Live on SafePal SafePal has integrated Tonstakers, the largest liquid staking protocol on The Open Network, bringing GRAM liquid staking to the SafePal Earn section. You can now stake GRAM and earn up to 15% APY directly inside the SafePal mobile app and the SafePal S1 and X1 hardware wallet line.
The word that matters is liquid. Your GRAM secures the network and earns rewards, while your position stays represented by a token you continue to hold in your wallet. There is no lock-up period, and withdrawals can complete in minutes.
To get started, download or update the SafePal mobile app to V4.11.7 and open the Earn section.
Estimated APYUp to 15% APY, floating and auto-compounding every 18 hours and reflected in the value of tsTONCompoundingAutomatic on every 18 hour timeframe Minimum stake1 GRAMLock-up periodNoneWithdrawalMinutes via instant withdrawal (dependent on available liquidity)Available onSafePal mobile app (iOS & Android), SafePal S1, SafePal X1CustodyNon-custodial. Your keys never leave your device What Is GRAM? GRAM is the native cryptocurrency of The Open Network (TON), a layer-1 proof-of-stake blockchain built for speed, low fees, and mainstream reach through its integration with Telegram. GRAM pays for transactions, secures the network through staking, and carries governance rights.
Holding Toncoin? You already hold GRAM. On 15 June 2026 a community vote passed with 81.22% support to rename Toncoin to Gram and change the ticker from TON to GRAM. Only the name, ticker and logo changed. Your balance, wallet address and any existing staking position carried over untouched, and the blockchain is still called The Open Network.
Because TON is proof-of-stake, the network depends on validators locking up GRAM as collateral to process transactions. Those validators share their rewards with the holders who back them, which is what makes staking possible and what this integration gives you access to.
What Is Liquid Staking, and What Is tsTON? With native staking, your tokens are committed directly to the network for the duration of the staking term. That is a straightforward arrangement, and for holders with a long time horizon it works well. The trade-off is that the position stays committed until the network's unbonding period completes.
Liquid staking takes a different approach. When you stake GRAM through Tonstakers, the protocol issues you tsTON, a liquid staking token representing your share of the staking pool. Your GRAM goes to work securing The Open Network, and tsTON sits in your wallet as a claim on that position plus everything it earns.
What tsTON isA token representing your staked GRAM positionHow rewards accrueAutomatically, reflected in the value of your tsTONIs it transferable?Yes. tsTON is a standard token and remains yoursRedeeming ittsTON is redeemed for your original GRAM plus accrued rewardsDo you need to claim?No. Compounding is automatic every 18 hours. In simple terms, tsTON is a receipt that grows. You hand over GRAM, you receive tsTON, and the amount of GRAM that tsTON can be redeemed for increases as staking rewards accumulate. When you exit, you redeem your tsTON for GRAM, receiving back your original stake plus the rewards it has accrued.
GRAM Staking APY and Automatic Compounding SafePal GRAM staking currently offers an estimated 15% APY. This is a floating rate. GRAM staking yields move with the proportion of GRAM staked network-wide, validator performance, and transaction volume on The Open Network. It is not fixed or guaranteed.
How Compounding Works With the SafePal x Tonstakers integration in SafePal Earn, GRAM liquid staking compounds staking rewards continuously, every 18 hours. They accrue into your position as they are earned, so your balance is always working on itself.
You do not need to do anything for this. There is no claim button, no manual re-staking, no scheduled maintenance of your position. The APY figure quoted already reflects compounding, which is what distinguishes APY from a simple annual rate.
Estimated APY~15% APYRate typeFloating, varies with network conditionsCompoundingAutomatic and continuous every 18 hoursReward accrualContinuous every 18 hoursManual claimingNot requiredMinimum stake1 GRAMMaximum stakeNo cap Where GRAM Staking Rewards Come From GRAM staking rewards are generated by The Open Network itself, from two sources.
Network Emissions The Open Network issues new GRAM as a block reward to validators who process transactions during each validation cycle. Validators pass a share to the holders staking with them. This is the larger and steadier of the two components, and how proof-of-stake networks compensate validators for securing the chain
Transaction Fees Every transaction on TON pays a fee in GRAM, and a portion flows to validators and their stakers. This component scales with network usage, so the busier the network, the more fee revenue there is to share. The Catchain 2.0 upgrade in April 2026 cut fees roughly sixfold while raising throughput about tenfold, a deliberate trade favouring total activity over per-transaction revenue.
How to Stake GRAM on the SafePal Mobile App Staking takes under two minutes on iOS or Android.
Update the SafePal app. Update the SafePal App to V4.11.7 and above and access GRAM staking in the Earn section. Open the Earn section. Go to the wallet tab at the bottom, then the Earn tab at the top, and select GRAM staking. Enter your amount. There is a minimum stake of 1 GRAM, and you can stake any amount higher than that. Keep a small GRAM balance spare in your wallet to cover network fees. Confirm the transaction. It is signed locally on your device. A small TON network fee applies, paid in GRAM. Watch it compound. Rewards accrue automatically every 18 hours. No claiming required. Users can also refer to the written tutorial here for a step by step guide. How to Stake GRAM with the SafePal S1 and X1 Hardware Wallet GRAM staking is fully supported on the SafePal S1 and X1, making SafePal one of the few ways to run a liquid staking position from cold storage without a centralised platform or browser extension. The hardware wallet works alongside the mobile app: transactions are built in the app, then signed on the device itself.
Connect your hardware wallet. Ensure your S1 or X1 is paired and detected, and that both app and device firmware are current. Open the Earn section and select GRAM staking. Choose the GRAM staking product from your hardware wallet account. Enter your amount. There is a minimum stake of 1 GRAM, and you can stake any amount higher than that. Keep a small GRAM balance spare in your wallet to cover network fees. Review in the app, confirm on the device. The app displays the transaction for review. Your S1 or X1 prompts for physical confirmation, so press confirm on the device to sign. The transaction broadcasts. Your device signs inside its secure element and broadcasts to The Open Network. Rewards begin accruing and compound automatically every 18 hours. Hardware wallet security: Every staking and withdrawal transaction requires physical approval on the S1 or X1. Private keys remain offline in the secure element chipset and never touch your phone or the internet. No action can execute remotely, even if your connected phone is fully compromised. For anyone staking a meaningful GRAM position, this is the recommended setup.
Users can also refer to the written tutorial here for a step by step guide.
Non-Custodial GRAM Staking: SafePal vs Exchange Staking Most GRAM staking happens on centralised exchanges, which means the exchange holds the keys. Your stake is then only as secure as the platform holding it, and platform failure, frozen withdrawals, or insolvency put staked assets at risk in ways the blockchain itself does not.
SafePal GRAM staking is non-custodial throughout. Keys are generated and stored on your own device, transactions are signed locally, and neither SafePal nor Tonstakers takes possession of your assets at any point.
SafePal x TonstakersExchange GRAM stakingYou control private keysYesNo, held by exchangeNon-custodialYesNoHardware wallet supportYes, S1 & X1 with physical confirmationNoPosition stays liquidYes, via tsTONTypically lockedAssets at risk if platform failsNoYesWithdrawal controlOn-chain, minutes to ~18hSubject to exchange policyWhere it sitsSafePal Earn, alongside TRX stakingExchange earn product Start Staking GRAM on SafePal Today GRAM liquid staking is live in the SafePal Earn section, on the SafePal mobile app and the SafePal S1 and X1 hardware wallet. Stake any amount, earn up to 15% APY with compounding every 18 hours, keep your position liquid through tsTON, and withdraw in minutes, all without giving up custody of your assets.
Download the SafePal App →
Explore the SafePal S1 and X1 Hardware Wallet →
SafePal continues to expand the Earn section with vetted staking partners across more chains and assets, so you can put your portfolio to work without leaving SafePal or compromising on self-custody.
FAQs Q1. What is liquid staking?
Liquid staking lets you earn staking rewards without locking your capital away. When you stake GRAM through Tonstakers you receive tsTON, a token representing your staked position. Your GRAM secures the network and earns rewards, while tsTON stays in your wallet and remains transferable and redeemable.
Q2. What is tsTON?
tsTON is the liquid staking token issued by Tonstakers. It represents your share of the staking pool and accrues rewards automatically, so the amount of GRAM it can be redeemed for grows over time. When you withdraw, tsTON is redeemed for your original GRAM plus accumulated rewards.
Q3. How do I stake GRAM on SafePal?
Open the SafePal mobile app, go to the wallet tab at the bottom, then the Earn tab at the top, and select GRAM staking. Enter your amount and confirm. Rewards begin accruing immediately and compound automatically every 18 hours.
Q4. What is the GRAM staking APY on SafePal?
SafePal GRAM staking currently offers approximately 15% APY. This is a floating rate that varies with the network-wide staking ratio, validator performance, and transaction volume on The Open Network. It is not fixed or guaranteed. The figure reflects automatic compounding.
Q5. How often do GRAM staking rewards compound?
Approximately every 18 hours, or around 487 times per year, matching the rhythm of The Open Network's validation cycles. Compounding is automatic every 18 hours, so there is no claim button and no manual re-staking.
Q6. How long does it take to unstake GRAM?
Instant withdrawal returns your GRAM within minutes, drawing on available pool liquidity.
Q7. Can I add to my stake after the initial deposit?
Yes. Top up at any time by repeating the staking flow. Additional GRAM begins earning from the moment it is deposited and joins the same compounding schedule as your existing balance. There is no maximum position size.
Q8. Can I withdraw part of my position?
Yes. You are not required to exit your entire position at once. Withdraw the amount you need and the remainder stays staked and earning.
Q9. Where do GRAM staking rewards come from?
Two sources. Network emissions, where The Open Network issues new GRAM as block rewards to validators who share them with stakers, and transaction fees, where a portion of the fees paid on every TON transaction flows to validators and their stakers.
Q10. Can I stake GRAM with the SafePal S1 or X1 hardware wallet?
Yes. GRAM staking is fully supported on the SafePal S1 and X1. Transactions are initiated in the SafePal mobile app and confirmed physically on the device. Private keys never leave the hardware wallet's secure element, making this the recommended setup for larger positions.
Q11. Is SafePal GRAM staking safe?
SafePal GRAM staking is fully non-custodial. Your private keys never leave your device, and neither SafePal nor Tonstakers takes possession of your assets. On the mobile app transactions are signed locally, and on the S1 and X1 every transaction requires physical confirmation on the device.
Tonstakers is CertiK-audited and operates an active bug bounty. That said, staking on any proof-of-stake network carries protocol-level risks including validator slashing, and APY is variable.
Q12. What is the minimum amount of GRAM I can stake?
The minimum is 1 GRAM. There is no maximum. Keep roughly 1 GRAM spare in your wallet to cover network transaction fees.
Q13. Is GRAM the same as Toncoin?
Yes. GRAM is the token formerly known as Toncoin. On 15 June 2026 a community vote passed with 81.22% support to rename the token and change the ticker from TON to GRAM. Only the name, ticker and logo changed. Balances, wallet addresses and existing staking positions were unaffected, and the blockchain is still called The Open Network.
Q14. Can I stake other assets on SafePal?
Yes. GRAM liquid staking joins TRX staking in the SafePal Earn section. SafePal continues to add staking support for more chains and assets across both mobile and hardware wallets.
About SafePal: Founded in 2018, SafePal is a next generation non-custodial crypto wallet suite backed by Animoca Brands, Binance and Superscrypt. The suite empowers access to decentralized and centralized finance on 200+ blockchains across its hardware, software, and browser extension wallet solutions.
Encompassing a diverse mix of crypto asset management solutions like cross-chain swapping, trading and yielding tools, centralized exchange (CEX) mini programs, a fiat gateway and Mastercard for users — SafePal serves 30 million users globally across 200+ regions and countries in 16 languages.
SFP is a decentralized BEP-20 and ERC-20 token fuelling the SafePal ecosystem with various utilities such as discounts on SafePal products, staking boost and airdrop rewards, seamless conversion to gas tokens, and more.
Stay informed about SafePal →
About Tonstakers: Tonstakers is the largest liquid staking protocol on The Open Network, with over 120M GRAM in total value locked (~80% share of TON's LST market) and over 140,000 stakers.
It is non-custodial and independently audited. Users stake GRAM and receive tsTON in return, a liquid token that grows in value as rewards accrue every 18 hours, with no lock-up required.
Full Disclaimer The APY figure quoted is a floating estimate based on current conditions on The Open Network, including the network-wide staking ratio, validator performance, and transaction volume. It is subject to change without notice and is not a fixed or guaranteed return.
GRAM liquid staking is provided through a third-party integration with Tonstakers. Instant withdrawal is subject to available liquidity in the staking pool, and standard withdrawal is bound by The Open Network's validation cycles.
Proof-of-stake networks carry protocol-level risks including validator slashing. Use of tsTON in external DeFi protocols carries additional risks independent of staking and is not required to earn staking rewards. This article is for informational purposes only and does not constitute financial or investment advice. Always conduct your own research before making any financial decisions.
Regional restrictions: This feature is not available to persons located in, ordinarily resident in, or accessing it from the United States or the United Kingdom, or from any comprehensively sanctioned jurisdiction, currently including Cuba, Iran, North Korea, and the Crimea, Donetsk, Luhansk, Kherson, and Zaporizhzhia regions of Ukraine. Access may be geo-blocked.
Not Investment Advice The information above does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article's content as such. SafePal does not recommend that any cryptocurrency should be bought, sold, or held by you.
Cryptocurrency investment is subject to high market risks. Please invest cautiously. SafePal will not be responsible for any investment losses. SafePal will not be liable whatsoever for any direct or consequential loss arising from the participation of its activities. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Non-Endorsement The appearance of a third party on SafePal and its activities does not constitute an endorsement, guarantee, warranty, or recommendation by SafePal. Do conduct your own due diligence before deciding to invest in any third-party projects or use any third-party services.
XRP Ledger ile Coreum’u birbirine bağlayan köprü, yaklaşık 200 bin XRP’nin çalındığı bir saldırıyla karşı karşıya kaldı. Saldırgan, gerçek bir XRP yatırımı yapmadan köprünün doğrulama sistemini kandırarak sahte bir yatırımı gerçekmiş gibi gösterdi. Daha sonra karşılığında gerçek XRP çekildi.
Olayın ardından köprü durdurulurken, geliştirici ekip açığın XRP Ledger’dan değil, Coreum tarafındaki yazılımdan kaynaklandığını açıkladı. Zincir üstü incelemelere göre saldırganın elde ettiği 198.715,88 XRP, ETH’ye çevrildi, THORChain üzerinden yönlendirildi ve sonrasında Tornado Cash’e gönderildi.
XRP Köprüsüne Saldırı Nasıl Gerçekleşti? Saldırgan, XRP Ledger’ın kendisini doğrudan ele geçirmek yerine köprünün para yatırma doğrulamasındaki açığı kullandı.
Teknik incelemeye göre saldırgan, köprünün ihraç ettiği wrapped token’ları kendi kontrolündeki iki cüzdan arasında transfer etti. İşleme ayrıca normal bir köprü yatırımı gibi görünmesini sağlayan bir deposit memo eklendi.
Sorun tam burada ortaya çıktı. Köprü yazılımı, kendi ihraç ettiği tokenın işlem geçmişinde görünmesini gerçek bir XRP yatırımı olarak değerlendirdi. Oysa saldırgan bu sırada köprüye herhangi bir gerçek XRP göndermemişti.
Relayer’lar sahte yatırımı onayladı. Bunun ardından sistem, XRP ile desteklenmeyen yeni varlıkların Coreum tarafında üretilmesine izin verdi.
Saldırgan da oluşturulan bu karşılıksız varlıkları kullanarak köprüden gerçek XRP çekti.
Daha sonraki zincir üstü incelemede, aynı sahte yatırımı 21 ayrı Coreum relayer’ının doğruladığı ortaya çıktı. Saldırgan yöntemi daha büyük miktarlarla tekrarladı ve toplamda 198.715,88 XRP elde etti.
Çalınan XRP daha sonra ETH’ye çevrildi, THORChain üzerinden yönlendirildi ve sonunda Tornado Cash’e gönderildi.
Sorun XRP Ledger’da mı? Hayır.
Saldırıya ilişkin ilk uyarı, playa adlı traderın köprüye ait XRPL hesabındaki bakiyenin birkaç dakika içinde 93.700 XRP’den 77.200 XRP’ye gerilediğini fark etmesiyle geldi. Ancak bu ilk gözlem, daha sonra 97 dakika sürdüğü belirlenen saldırının yalnızca 11 dakikalık bölümünü kapsıyordu. İlk etapta DefaultRipple ayarından şüphelenilse de sonraki incelemeler asıl sorunun Coreum köprüsündeki yazılım açığı olduğunu ortaya koydu.
Ancak işlem verileri incelendikten sonra bu açıklamanın saldırının gerçek mekanizmasını açıklamadığı ortaya çıktı. Native XRP’nin kendisi bu şekilde bir trust line üzerinden aktarılmıyor. Söz konusu ayar, köprünün ihraç ettiği tokenlarla ilgili.
Köprü operatörü tx, yazılımın gerçekte XRP göndermeyen işlemleri yanlış biçimde kaydettiğini doğruladı.
Bu nedenle saldırının temelinde XRP Ledger’ın kendisinden ziyade köprünün Coreum tarafındaki doğrulama mantığının bulunduğu belirtiliyor.
hey @CoreumOfficial your xrpl bridge issuer rxXXXeMX8Gy5YvibvGLnQJ1XKKD7UswM1 is leaking. defaultripple is on and two wallets are draining native xrp through it via partial-payment loops. balance went 93.7k → 77.2k in minutes, ~1.65k xrp per cycle, every 30s.
this isn't…
— playa (@playaxrpl) August 9, 2026
XRP Köprüsü Şimdi Ne Durumda? Saldırının ardından köprü durduruldu.
tx ekibi açığın tespit edildiğini ve sistem üzerinde çalışıldığını açıkladı. Ayrıca olayla ilgili FBI’ın Internet Crime Complaint Center’ına (IC3) rapor sunuldu.
Şu ana kadar diğer köprülenmiş varlıkların etkilenmediği belirtildi. Kullanıcıların zararlarının nasıl karşılanacağına ilişkin plan ise henüz netleşmiş değil.
XRP Fiyatı Saldırıdan Etkilendi mi? Saldırı, XRP’nin zaten zayıf seyrettiği bir dönemde gerçekleşti.
XRP yaklaşık 1,02 dolar seviyesinde işlem görürken son yedi günde yaklaşık %4,4 değer kaybetmiş durumda. Aynı süreçte Bitcoin yaklaşık 64 bin dolara gerilerken, kripto piyasasının toplam değerinden yaklaşık 40 milyar dolar silindi.
Bu nedenle XRP’deki düşüşün tamamını köprü saldırısına bağlamak mümkün değil. Saldırı, tokenın zaten baskı altında olduğu bir döneme denk geldi.
XRP Yatırımcıları İçin Asıl Risk Ne? Bu saldırıda dikkat çeken nokta, XRP Ledger’ın doğrudan ele geçirilmemiş olması.
Saldırgan, köprü yazılımındaki doğrulama açığını kullanarak gerçekte var olmayan bir yatırımı gerçekmiş gibi gösterdi. Ardından köprünün kendi doğrulama mekanizması üzerinden gerçek Ripple XRP çekti.
Bu olay, zincirler arası köprülerde yalnızca blockchain’in güvenliğinin değil, varlıkların yatırıldığını doğrulayan yazılım ve relayer sistemlerinin de kritik olduğunu gösteriyor.
Köprü yeniden açılmadan önce açığın tamamen giderilip giderilmediği ve kullanıcı zararlarının nasıl karşılanacağı XRP yatırımcılarının yakından izleyeceği başlıklar arasında olacak.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
CoreWeave zvedl celoroční výhled tržeb na 12,4 až 13,2 miliardy USD a ve 3. čtvrtletí čeká tržby 3,45 až 3,6 miliardy USD. Firma zároveň v červenci zdražila nabídky AI compute asi o 25 %.
CoreWeave, Inc. (NASDAQ:CRWV) stock jumped in Wednesday’s premarket session as investors focused on stronger AI compute pricing, higher revenue guidance and continued demand for large-scale AI infrastructure.
The company said it raised prices by about 25% across AI compute offerings in July to reflect strong demand and higher component costs, including more expensive GPUs.
Management also said demand for NVIDIA’s Vera Rubin platform remains "enormous," while contribution margins on new deals are rising by 5 to 10 percentage points.
CoreWeave lifted its full-year 2026 revenue forecast to $12.4 billion to $13.2 billion and guided third-quarter revenue to $3.45 billion to $3.6 billion.
Backlog Signals Strong AI DemandJefferies analyst Brent Thill said CoreWeave remains a key AI infrastructure vendor as backlog growth points to healthy demand.
Thill told CNBC that CoreWeave ended the quarter with about $99 billion in backlog and moved closer to $130 billion after signing additional business early in the current quarter.
He said that growth shows demand remains strong and that the broader AI trade remains intact as hyperscalers keep increasing capital spending.
Profitability Remains A Key Watch PointHe said CoreWeave benefits from a supply-constrained environment where customers continue to seek more capacity. However, he said investors still need more clarity on whether the company can become profitable and evolve over the next three years into a software-enabled cloud platform.
Thill said several metrics looked slightly above consensus, but he described the quarter as stable rather than a blowout. He also said CoreWeave must manage rising infrastructure costs, generate proper returns after financing costs and address concerns about insider selling.
Top ETF ExposureSignificance: Because CRWV carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
Price ActionCRWV Stock Price Activity: CoreWeave shares were trading higher by 17.36% at $106.00 during premarket trading on Wednesday, according to Benzinga Pro data.
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
Nintendo letos v prosinci poprvé uvede konzole Switch a Switch 2 v Indonésii, největší ekonomice jihovýchodní Asie. Oficiálním distributorem bude dceřiná firma Salim Group.
A person holds a Nintendo Switch 2 game console box at an electronics store in Tokyo, Japan June 5, 2025. REUTERS/Issei Kato/File Photo Purchase Licensing Rights, opens new tab
JAKARTA, Aug 12 (Reuters) - Japanese game maker Nintendo (7974.T), opens new tab said on Wednesday that it would launch its Switch consoles in Indonesia for the first time this year, marking its entrance into Southeast Asia's largest economy.
Here are some details:
Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.
Nintendo told Reuters in an email it would launch Nintendo Switch and Nintendo Switch 2 in Indonesia this December.
Asked what its presence in Indonesia might entail, the company said: "Unfortunately, we have nothing further to share besides the fact that we plan to launch Nintendo Switch and Nintendo Switch 2 in Indonesia this December."
A subsidiary of one of Indonesia's biggest conglomerates, Salim Group, will be the official distributor for the consoles, Indonesia's Ministry of Creative Economy said in a statement.
Irene Umar, Indonesia's vice-creative economy minister, said on Wednesday in an Instagram post that allowing Nintendo to sell its products through official channels would help address copyright violations.
Indonesia is pushing to make Nintendo's developer kit available to help local developers, Irene added.
Nintendo consoles and game cartridges are currently sold mainly through unofficial channels, making pricing mechanisms unclear, local game developer Adam Ardisasmita told Reuters.
Salim Group's Axton Salim was quoted by state news website Antara as saying that its subsidiary would work with Nintendo to build an official repair centre and customer service.
Indonesia's gaming market is worth about 30 trillion rupiah ($1.68 billion) annually, the largest in Southeast Asia, but local developers generate only around 2.5% of that spending, the Indonesian Game Association said last year.
Nintendo launched the Switch 2 hybrid home-portable console in June 2025 and expects to sell 16.5 million units in the current business year through to March 2027.
($1 = 17,865 rupiah)
Reporting by Stanley Widianto
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Tržby společnosti Brinker International ve 4. čtvrtletí vzrostly na 1 521,2 mil. USD a srovnatelné tržby se zvýšily o 5,0 %, včetně 5,6 % u Chili's. Pro fiskální rok 2027 společnost čeká tržby 6,15–6,27 mld. USD.
, /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced its financial results for the fourth quarter and fiscal year ended June 24, 2026 and provided guidance for fiscal 2027.
Fourth Quarter and Full Year Fiscal 2026 Financial Highlights
"Q4 2026 completes five consecutive years of Chili's same-store sales growth, delivering an unprecedented 71% cumulative increase over that time," said Kevin Hochman, President and CEO of Brinker International. "Our strong brand relevance, industry-leading value proposition, streamlined operations, and significant restaurant investments have created a competitive moat that positions Chili's to deliver sustainable, profitable growth."
In the fourth quarter of fiscal 2026, Company sales were $1,521.2 million compared to $1,448.9 million in the fourth quarter of fiscal 2025. Company comparable restaurant sales increased 5.0% in the fourth quarter of fiscal 2026, including 5.6% for Chili's, as the brand drove positive traffic and continued outperformance against the casual dining industry. Chili's sustained strong performance reflects disciplined execution across the business. Continued investments in food quality, service, atmosphere, menu innovation, everyday value, and high-impact marketing reinforced the strength of the brand and attracted new guests, reinforcing the Company's confidence in its ability to deliver sustainable long-term growth. Chili's momentum accelerated in July with the sustained success of the Big Crispy chicken sandwich and other brand initiatives. Net income per diluted share and Net income per diluted share, excluding special items, non-GAAP, increased 30.0% and 23.3%, respectively, for the fourth quarter of fiscal 2026 compared to the fourth quarter of fiscal 2025.
During fiscal 2026, the Company utilized operational cash flow to repurchase $400.0 million of the Company's common stock. Effective August 10, 2026, our Board of Directors authorized a total of $750.0 million under our existing share repurchase program.
Financial results for the fourth quarter and full year of fiscal 2026 and fiscal 2025 were as follows (in millions, except per share amounts and percentages):
Fourth Quarter
Fiscal Year
2026
2025
Variance
2026
2025
Variance
Company sales
$ 1,521.2
$ 1,448.9
$ 72.3
$ 5,750.9
$ 5,335.3
$ 415.6
Total revenues
$ 1,535.8
$ 1,461.9
$ 73.9
$ 5,807.4
$ 5,384.2
$ 423.2
Operating income
$ 167.0
$ 142.7
$ 24.3
$ 619.9
$ 512.0
$ 107.9
Operating income as a % of Total revenues
10.9 %
9.8 %
1.1 %
10.7 %
9.5 %
1.2 %
Restaurant operating margin, non-GAAP(1)
$ 273.4
$ 258.2
$ 15.2
$ 1,026.4
$ 933.5
$ 92.9
Restaurant operating margin as a % of
Company sales, non-GAAP(1)
18.0 %
17.8 %
0.2 %
17.8 %
17.5 %
0.3 %
Net income
$ 131.1
$ 107.0
$ 24.1
$ 487.0
$ 383.1
$ 103.9
Adjusted EBITDA, non-GAAP(1)
$ 227.6
$ 212.4
$ 15.2
$ 847.2
$ 760.4
$ 86.8
Net income per diluted share
$ 2.99
$ 2.30
$ 0.69
$ 10.87
$ 8.32
$ 2.55
Net income per diluted share, excluding
special items, non-GAAP(1)
$ 3.07
$ 2.49
$ 0.58
$ 10.74
$ 8.90
$ 1.84
Comparable Restaurant Sales(2)
Q4:26 vs 25
FY:26 vs 25
Brinker
5.0 %
8.1 %
Chili's
5.6 %
9.2 %
Maggiano's
(2.5) %
(3.9) %
(1)
See Non-GAAP Information and Reconciliations section below for more details.
(2)
Comparable Restaurant Sales include restaurants that have been in operation for more than 18 full months. Restaurants temporarily closed for 14 days or more are excluded from comparable restaurant sales. Percentage amounts are calculated based on the comparable periods year-over-year.
Subsequent to the end of the fiscal year, on July 16, 2026, the Company redeemed the outstanding $350.0 million 8.25% notes, and the payoff was funded with borrowings from the revolving credit facility. During the fourth quarter of fiscal 2026, the Company executed an agreement with a franchisee for the acquisition of 12 Chili's restaurants located in Alabama and Mississippi, including the real estate for six of the locations, and the transaction is expected to close on August 27, 2026.
Full Year Fiscal 2027 Guidance
We are providing the following select financial guidance for fiscal 2027 which includes a 53rd operating week in the fourth quarter. We estimate the impact of the additional operating week to be an increase of approximately 2.0% in Total revenues and $0.70 in Net income per diluted share, excluding special items, non-GAAP:
Total revenues
$6.15 billion - $6.27 billion
Net income per diluted share, excluding special items, non-GAAP
$12.60 - $13.40
Capital expenditures
$265.0 million - $285.0 million
Diluted weighted average shares
42.0 million - 43.0 million
The risks outlined in the Forward-Looking Statements paragraph of this press release, among other risks, could cause actual results to differ materially from forecasted results. We are unable to reliably forecast special items without unreasonable effort. As such, we do not present a reconciliation of forecasted non-GAAP measures to the corresponding GAAP measures.
Fourth Quarter of Fiscal 2026 Operating Performance
Segment Performance
The table below presents selected financial information (in millions, except as noted) related to our segments' operational performance for the thirteen week periods ended June 24, 2026 and June 25, 2025:
Chili's
Maggiano's
Fourth Quarter
Variance
Fourth Quarter
Variance
2026
2025
2026
2025
Company sales
$ 1,408.6
$ 1,326.8
$ 81.8
$ 112.6
$ 122.1
$ (9.5)
Franchise revenues
14.4
12.8
1.6
0.2
0.2
—
Total revenues
$ 1,423.0
$ 1,339.6
$ 83.4
$ 112.8
$ 122.3
$ (9.5)
Company restaurant expenses(1)
$ 1,146.7
$ 1,085.4
$ 61.3
$ 101.0
$ 105.8
$ (4.8)
Company restaurant expenses as a % of
Company sales
81.4 %
81.8 %
(0.4) %
89.7 %
86.7 %
3.0 %
Operating income - GAAP
$ 214.2
$ 177.3
$ 36.9
$ 1.0
$ 13.4
$ (12.4)
Operating income (loss) as a % of Total
revenues
15.1 %
13.2 %
1.9 %
0.9 %
11.0 %
(10.1) %
Restaurant operating margin, non-
GAAP(2)
$ 261.9
$ 241.4
$ 20.5
$ 11.6
$ 16.3
$ (4.7)
Restaurant operating margin as a % of
Company sales, non-GAAP(2)
18.6 %
18.2 %
0.4 %
10.3 %
13.3 %
(3.0) %
(1)
Company restaurant expenses includes Food and beverage costs, Restaurant labor and Restaurant expenses, and excludes Depreciation and amortization, General and administrative and Other (gains) and charges.
(2)
See Non-GAAP Information and Reconciliations section below for more details.
Chili's
Chili's Company sales increased primarily due to favorable comparable restaurant sales driven by menu pricing and higher traffic. Chili's Company restaurant expenses, as a percentage of Company sales, decreased primarily due to sales leverage and lower manager bonus, partially offset by unfavorable Food and beverage costs, higher advertising, hourly labor, delivery fees and to-go supplies, manager salaries, and other restaurant expenses. Food and beverage costs were negatively impacted by higher beef costs and a temporary increase in produce costs due to a late freeze in Florida. Chili's franchisees generated sales of approximately $301.2 million for the fourth quarter of fiscal 2026 compared to $262.3 million for the fourth quarter of fiscal 2025. Maggiano's
Maggiano's Company sales decreased primarily due to lower traffic and restaurant closures, partially offset by menu pricing. Maggiano's Company restaurant expenses, as a percentage of Company sales, increased primarily due to sales deleverage, unfavorable Food and beverage costs, higher pre-opening costs, partially offset by lower worker's compensation and general liability insurance, repairs and maintenance, and advertising. Corporate
On a GAAP basis, the effective income tax rate was 17.3% in the fourth quarter of fiscal 2026. The effective income tax rate is lower than the statutory rate of 21.0% primarily due to leverage of the FICA tip credit. Excluding the impact of special items, the effective income tax rate was an expense of 17.6% in the fourth quarter of fiscal 2026. Webcast Information
Investors and interested parties are invited to listen to today's conference call, as management will provide further details of the quarter and business updates. A real-time audio webcast of the presentation can be accessed via the Events and Presentations section of the Brinker Investor Relations page. The call will be broadcast live today, August 12, 2026 at 9 a.m. CDT:
For those who are unable to listen to the live broadcast, a replay of the call will be available shortly thereafter.
Additional financial information, including statements of income which detail operations excluding special items, and comparable restaurant sales trends by brand, is also available on Brinker's website under the Financial Information section of the Investor tab.
Forward Calendar
SEC Form 10-K for the year of fiscal 2026 filing on or before August 24, 2026 Earnings release call for the first quarter of fiscal 2027 on October 28, 2026 Non-GAAP Measures
Brinker management uses certain non-GAAP measures in analyzing operating performance and believes that the presentation of these measures in this release provides investors with information that is beneficial to gaining an understanding of the Company's financial results. Non-GAAP disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP measures are included in the tables below.
About Brinker
Brinker International, Inc. is one of the world's leading casual dining restaurant companies and home of Chili's® Grill & Bar, and Maggiano's Little Italy.® Founded in 1975 in Dallas, Texas, we've ventured far from home, but stayed true to our roots. Brinker owns, operates or franchises more than 1,600 restaurants in the United States, 28 other countries and two U.S. territories. Our passion is making everyone feel special, and we hope you feel that passion each time you visit one of our restaurants or invite us into your home through takeout or delivery. Learn more about Brinker and its brands at brinker.com.
Forward-Looking Statements
The statements and tables contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are made only based on our current plans and expectations as of the date such statements are made, and we undertake no obligation to update forward-looking statements to reflect events or circumstances arising after the date such statements are made. Forward-looking statements are neither predictions nor guarantees of future events or performance and are subject to risks and uncertainties which could cause actual results to differ materially from our historical results or from those projected in forward-looking statements. Such risks and uncertainties include, among other things, the impact of general economic conditions, including inflation, on economic activity and on our operations; disruptions on our business including consumer demand, costs, product mix, our strategic initiatives, operations, technology and assets, and our financial performance; the impact of current and potential tariffs and trade barriers; the impact of competition, including competitors employing our same strategies or discounting their offerings; changes in consumer preferences, including shifts in their brand preferences; food-borne illness outbreaks; consumer perception of food safety; reduced consumer discretionary spending; governmental regulations; the effectiveness of the Company's business strategy plan; loss of key management personnel; failure to hire and retain high-quality restaurant management and team members; increasing regulation surrounding wage inflation and competitive labor markets; the impact of social media, including the potential governmental ban of platforms used by the Company in its marketing initiatives; reputational damage or unfavorable publicity for our brands, which may result from actions of franchisees not within our control; reliance on technology and third party delivery providers; failure to protect the security of data of our guests and team members; product availability and supply chain disruptions; regional business and economic conditions; volatility in consumer, commodity, transportation, labor, currency and capital markets; litigation; franchisee success; technology failures; failure to protect our intellectual property; outsourcing; impairment of goodwill or assets; failure to maintain effective internal control over financial reporting; downgrades in credit ratings; changes in estimates regarding our assets; actions of activist shareholders; our pursuit of or failure to comply with new environmental and sustainability requirements; our pursuit of or failure to achieve any goals, targets or objectives with respect to sustainability matters; adverse weather conditions; terrorist acts; cybersecurity, artificial intelligence and phishing threats; health epidemics or pandemics; tax reform; inadequate insurance coverage; and limitations imposed by our credit agreements as well as the risks and uncertainties described in "Risk Factors" in our Annual Report on Form 10-K and future filings with the Securities and Exchange Commission.
BRINKER INTERNATIONAL, INC.
Consolidated Statements of Comprehensive Income (Unaudited)
(In millions, except per share amounts)
Thirteen Week Periods Ended
Fifty-Two Week Periods Ended
June 24, 2026
June 25, 2025
June 24, 2026
June 25, 2025
Revenues
Company sales
$ 1,521.2
$ 1,448.9
$ 5,750.9
$ 5,335.3
Franchise revenues
14.6
13.0
56.5
48.9
Total revenues
1,535.8
1,461.9
5,807.4
5,384.2
Operating costs and expenses
Food and beverage costs
399.4
369.3
1,487.6
1,350.6
Restaurant labor
476.4
466.7
1,810.2
1,717.3
Restaurant expenses
372.0
354.7
1,426.7
1,333.9
Depreciation and amortization
55.5
57.9
218.7
206.6
General and administrative
60.4
58.8
235.7
222.0
Other (gains) and charges(1)
5.1
11.8
8.6
41.8
Total operating costs and expenses
1,368.8
1,319.2
5,187.5
4,872.2
Operating income
167.0
142.7
619.9
512.0
Interest expenses
9.2
10.9
40.5
53.1
Other income, net
(0.7)
(0.4)
(1.5)
(1.1)
Income before income taxes
158.5
132.2
580.9
460.0
Provision for income taxes
27.4
25.2
93.9
76.9
Net income
$ 131.1
$ 107.0
$ 487.0
$ 383.1
Basic net income per share
$ 3.08
$ 2.41
$ 11.16
$ 8.60
Diluted net income per share
$ 2.99
$ 2.30
$ 10.87
$ 8.32
Basic weighted average shares outstanding
42.6
44.5
43.6
44.6
Diluted weighted average shares outstanding
43.9
46.5
44.8
46.1
Other comprehensive income (loss)
Foreign currency translation adjustment
$ (0.2)
$ 0.2
$ (0.3)
$ (0.1)
Comprehensive income
$ 130.9
$ 107.2
$ 486.7
$ 383.0
(1)
Other (gains) and charges included in the Consolidated Statements of Comprehensive Income (Unaudited):
Thirteen Week Periods Ended
Fifty-Two Week Periods Ended
June 24, 2026
June 25, 2025
June 24, 2026
June 25, 2025
Restaurant-level impairment charges
$ 5.7
$ 4.6
$ 5.7
$ 4.6
Litigation & claims, net
1.0
11.3
3.4
22.4
Restaurant closure asset write-offs and charges
0.5
1.8
2.7
4.1
Severance and other benefit charges
—
0.1
1.7
2.4
Enterprise system implementation costs
—
2.1
—
14.1
Lease contingencies
—
0.2
—
1.7
Lease modification gain, net
(1.1)
(3.9)
(3.7)
(5.1)
Loss from natural disasters, net (of insurance
recoveries)
(0.2)
(4.4)
(2.2)
(3.7)
Other, net
(0.8)
—
1.0
1.3
Total other (gains) and charges
$ 5.1
$ 11.8
$ 8.6
$ 41.8
BRINKER INTERNATIONAL, INC.
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
June 24,
2026
June 25,
2025
ASSETS
Total current assets
$ 307.7
$ 207.0
Net property and equipment
967.4
952.7
Operating lease assets
1,205.9
1,149.1
Deferred income taxes, net
69.1
101.4
Other assets
264.9
268.4
Total assets
$ 2,815.0
$ 2,678.6
LIABILITIES AND SHAREHOLDERS' EQUITY
Total current liabilities
$ 676.7
$ 675.6
Long-term debt and finance leases, less current installments
419.7
426.0
Long-term operating lease liabilities, less current portion
1,194.3
1,135.3
Other liabilities
80.6
70.8
Total shareholders' equity
443.7
370.9
Total liabilities and shareholders' equity
$ 2,815.0
$ 2,678.6
BRINKER INTERNATIONAL, INC.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Fifty-Two Week Periods Ended
June 24, 2026
June 25, 2025
Cash flows from operating activities
Net income
$ 487.0
$ 383.1
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization
218.7
206.6
Deferred income taxes, net
32.2
12.6
Non-cash other (gains) and charges
12.1
25.7
Stock-based compensation
32.2
31.4
Net loss on disposal of assets
10.3
11.7
Other
1.8
2.6
Changes in assets and liabilities
(4.9)
5.3
Net cash provided by operating activities
789.4
679.0
Cash flows from investing activities
Payments for property and equipment
(231.9)
(265.3)
Proceeds from sale of assets
0.4
1.0
Insurance recoveries
0.5
0.9
Net cash used in investing activities
(231.0)
(263.4)
Cash flows from financing activities
Borrowings on revolving credit facility
650.0
885.0
Payments on revolving credit facility
(650.0)
(885.0)
Purchases of treasury stock
(443.9)
(90.2)
Payments on long-term debt
(24.1)
(375.8)
Proceeds from issuance of treasury stock
0.7
8.3
Payments for debt issuance costs
—
(3.6)
Net cash used in financing activities
(467.3)
(461.3)
Net change in cash and cash equivalents
91.1
(45.7)
Cash and cash equivalents at beginning of period
18.9
64.6
Cash and cash equivalents at end of period
$ 110.0
$ 18.9
BRINKER INTERNATIONAL, INC.
Restaurant Summary
Fiscal 2026 New Openings
Total Restaurants
Open at June 24,
2026
Total Restaurants
Open at June 25,
2025
Fourth Quarter
Openings
Fiscal Year
Openings
Company-owned restaurants
Chili's domestic
1,110
1,109
1
6
Chili's international
4
4
—
—
Maggiano's domestic
49
49
—
—
Total Company-owned
1,163
1,162
1
6
Franchise restaurants
Chili's domestic
99
99
1
4
Chili's international
370
364
6
23
Maggiano's domestic
3
3
—
—
Total franchise
472
466
7
27
Total Company-owned and franchise
Chili's domestic
1,209
1,208
2
10
Chili's international
374
368
6
23
Maggiano's domestic
52
52
—
—
Total
1,635
1,628
8
33
NON-GAAP INFORMATION AND RECONCILIATIONS
Comparable Restaurant Sales
Q4 26 and Q4 25
Comparable Restaurant
Sales(1)
Price Impact
Mix-Shift Impact(2)
Traffic Impact
Q4:26 vs 25
Q4:25 vs 24
Q4:26 vs 25
Q4:25 vs 24
Q4:26 vs 25
Q4:25 vs 24
Q4:26 vs 25
Q4:25 vs 24
Company-owned
5.0 %
21.3 %
4.2 %
3.0 %
(0.2) %
4.5 %
1.0 %
13.8 %
Chili's
5.6 %
23.7 %
4.3 %
2.7 %
(0.2) %
4.7 %
1.5 %
16.3 %
Maggiano's
(2.5) %
(0.4) %
2.9 %
7.0 %
(0.1) %
1.5 %
(5.3) %
(8.9) %
Franchise(3)
5.6 %
11.4 %
U.S.
8.3 %
15.5 %
International
4.0 %
9.0 %
Chili's domestic(4)
5.9 %
23.2 %
System-wide(5)
5.1 %
19.8 %
FY 26 and FY 25
Comparable Restaurant
Sales(1)
Price Impact
Mix-Shift Impact(2)
Traffic Impact
FY:26 vs 25
FY:25 vs 24
FY:26 vs 25
FY:25 vs 24
FY:26 vs 25
FY:25 vs 24
FY:26 vs 25
FY:25 vs 24
Company-owned
8.1 %
22.7 %
4.4 %
4.8 %
1.2 %
4.4 %
2.5 %
13.5 %
Chili's
9.2 %
25.3 %
4.4 %
4.5 %
1.2 %
4.8 %
3.6 %
16.0 %
Maggiano's
(3.9) %
1.5 %
5.0 %
7.8 %
0.4 %
1.2 %
(9.3) %
(7.5) %
Franchise(3)
8.6 %
11.7 %
U.S.
10.6 %
19.9 %
International
7.3 %
6.8 %
Chili's domestic(4)
9.4 %
25.0 %
System-wide(5)
8.2 %
21.0 %
(1)
Comparable Restaurant Sales include all restaurants that have been in operation for more than 18 full months. Restaurants temporarily closed 14 days or more are excluded from Comparable Restaurant Sales. Percentage amounts are calculated based on the comparable periods year-over-year.
(2)
Mix-Shift is calculated as the year-over-year percentage change in Company sales resulting from the change in menu items ordered by guests.
(3)
Franchise sales generated by franchisees are not included in Total revenues in the Consolidated Statements of Comprehensive Income (Unaudited); however, we generate royalty revenues and advertising fees based on franchisee revenues, where applicable. We believe presenting Franchise Comparable Restaurant Sales provides investors relevant information regarding total brand performance.
(4)
Chili's domestic Comparable Restaurant Sales percentages are derived from sales generated by Company-owned and franchise-operated Chili's restaurants in the United States.
(5)
System-wide Comparable Restaurant Sales are derived from sales generated by Chili's and Maggiano's Company-owned and franchise-operated restaurants.
Reconciliation of Net Income Excluding Special Items (in millions, except per share amounts)
Brinker believes excluding special items from its financial results provides investors with a clearer perspective of the Company's ongoing operating performance and a more relevant comparison to prior period results.
Fourth Quarter
Fiscal Year
Q4 26
EPS Q4
26
Q4 25
EPS Q4
25
FY 26
EPS FY
26
FY 25
EPS FY
25
Net income, GAAP
$ 131.1
$ 2.99
$ 107.0
$ 2.30
$ 487.0
$ 10.87
$ 383.1
$ 8.32
Special items - Other (gains) and
charges(1)
5.1
0.11
11.8
0.25
8.6
0.19
41.8
0.91
Income tax effect related to
special items(2)
(1.2)
(0.03)
(2.6)
(0.05)
(2.1)
(0.04)
(10.1)
(0.22)
Special items, net of taxes
3.9
0.08
9.2
0.20
6.5
0.15
31.7
0.69
Adjustment for special tax items(3)
(0.1)
—
(0.3)
(0.01)
(12.4)
(0.28)
(4.8)
(0.11)
Net income, excluding special items,
non-GAAP
$ 134.9
$ 3.07
$ 115.9
$ 2.49
$ 481.1
$ 10.74
$ 410.0
$ 8.90
(1)
See footnote (1) to the Consolidated Statements of Comprehensive Income (Unaudited) for additional details on the composition of Other (gains) and charges.
(2)
Income tax effect related to special items is based on the statutory tax rate in effect at the end of each period.
(3)
Adjustment for special tax items primarily represents excess tax benefits associated with stock-based compensation.
Reconciliation of Restaurant Operating Margin (in millions, except percentages)
Q4 26 and Q4 25
Chili's
Maggiano's
Brinker
Q4 26
Q4 25
Q4 26
Q4 25
Q4 26
Q4 25
Operating income - GAAP
$ 214.2
$ 177.3
$ 1.0
$ 13.4
$ 167.0
$ 142.7
Operating income as a % of Total revenues
15.1 %
13.2 %
0.9 %
11.0 %
10.9 %
9.8 %
Operating income - GAAP
$ 214.2
$ 177.3
$ 1.0
$ 13.4
$ 167.0
$ 142.7
Less: Franchise revenues
(14.4)
(12.8)
(0.2)
(0.2)
(14.6)
(13.0)
Plus: Depreciation and amortization
48.1
51.3
4.7
4.3
55.5
57.9
General and administrative
13.6
13.7
1.7
1.8
60.4
58.8
Other (gains) and charges
0.4
11.9
4.4
(3.0)
5.1
11.8
Restaurant operating margin, non-GAAP
$ 261.9
$ 241.4
$ 11.6
$ 16.3
$ 273.4
$ 258.2
Restaurant operating margin as a % of Company sales,
non-GAAP
18.6 %
18.2 %
10.3 %
13.3 %
18.0 %
17.8 %
FY 26 and FY 25
Chili's
Maggiano's
Brinker
FY 26
FY 25
FY 26
FY 25
FY 26
FY 25
Operating income, GAAP
$ 792.6
$ 644.0
$ 16.5
$ 60.1
$ 619.9
$ 512.0
Operating income as a % of Total revenues
14.8 %
13.2 %
3.6 %
12.0 %
10.7 %
9.5 %
Operating income, GAAP
$ 792.6
$ 644.0
$ 16.5
$ 60.1
$ 619.9
$ 512.0
Less: Franchise revenues
(55.6)
(48.1)
(0.9)
(0.8)
(56.5)
(48.9)
Plus: Depreciation and amortization
189.9
182.5
17.8
14.6
218.7
206.6
General and administrative
54.1
50.4
6.7
9.7
235.7
222.0
Other (gains) and charges
0.5
23.7
5.7
(1.8)
8.6
41.8
Restaurant operating margin, non-GAAP
$ 981.5
$ 852.5
$ 45.8
$ 81.8
$ 1,026.4
$ 933.5
Restaurant operating margin as a % of Company sales,
non-GAAP
18.5 %
17.6 %
10.1 %
16.3 %
17.8 %
17.5 %
Restaurant operating margin is not a measurement determined in accordance with GAAP and should not be considered in isolation, or as an alternative to operating income as an indicator of financial performance. Restaurant operating margin is widely regarded in the restaurant industry as a useful metric by which to evaluate restaurant-level operating efficiency and performance of ongoing restaurant-level operations. This non-GAAP measure is not indicative of overall Company performance and profitability because this measure does not directly accrue benefit to the shareholders due to the nature of costs excluded.
We define Restaurant operating margin as Company sales less Food and beverage costs, Restaurant labor and Restaurant expenses. We believe this metric provides a more useful comparison between periods and enables investors to focus on the performance of restaurant-level operations by excluding revenues not related to Company-owned restaurants, corporate General and administrative expenses, Depreciation and amortization, and Other (gains) and charges. Restaurant operating margin as presented may not be comparable to other similarly titled measures of other companies in our industry.
Reconciliation of Adjusted EBITDA (in millions)
Adjusted EBITDA is not a measurement determined in accordance with GAAP and should not be considered in isolation, or as an alternative to net income as an indicator of financial performance. Brinker believes presenting Adjusted EBITDA provides a useful measure of our operating performance, excluding the impacts of financing costs, capital expenditures and special items. We define Adjusted EBITDA as Net income before Provision for income taxes, Other income, net, Interest expenses, Depreciation and amortization and Other (gains) and charges.
Quarter
Year-to-Date
Q4 26
Q4 25
Q4 26
Q4 25
Net income - GAAP
$ 131.1
$ 107.0
$ 487.0
$ 383.1
Provision for income taxes
27.4
25.2
93.9
76.9
Other income, net
(0.7)
(0.4)
(1.5)
(1.1)
Interest expenses
9.2
10.9
40.5
53.1
Depreciation and amortization
55.5
57.9
218.7
206.6
Other (gains) and charges
5.1
11.8
8.6
41.8
Adjusted EBITDA, non-GAAP
$ 227.6
$ 212.4
$ 847.2
$ 760.4
SOURCE Brinker International Payroll Company, L.P.
GBP/USD zůstává v krátkodobém rostoucím trendu nad 1,3479 po průrazu nad střednědobou klesající trendovou linií. Klíčové bude dnešní americké CPI; vyšší inflace by mohla pár stlačit k 1,3400.
Key takeaways Sterling stays firm: GBP/USD remains in a short-term uptrend above 1.3479 after breaking above its medium-term descending trendline post-NFP.US CPI is the key catalyst: A hotter-than-expected core CPI could revive Fed-hike bets and pressure GBP/USD, while softer inflation may extend sterling’s rally.1.3479 is pivotal support: Holding above it keeps 1.3547, 1.3580 and 1.3643 in focus; a break below exposes 1.3440 and 1.3400. The sterling pound has been one of the best-performing major currencies against the US dollar in the past five trading sessions.
The USD/GBP cross rate has tumbled by 0.38% (a 0.38% gain for GBP against USD) at the time of writing, slightly above USD/CAD, which recorded a 0.56% loss over the same period (see Fig. 1).
Fig. 1: 5-day rolling performances of USD against major currencies as of 12 Aug 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance.
Fig. 1: 5-day rolling performances of USD against major currencies as of 12 Aug 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. Macro divers: inflation trajectory versus Fed pricing Market sentiment remains closely tied to incoming inflation data as investors gauge whether the Federal Reserve will resume rate hikes later this year. Following recent mixed labour market signals, pricing for the September FOMC decision sits close to a coin toss (based on latest data from the CME FedWatch tool, the Fed funds futures market is only pricing in a 48.1% chance of a 25-bps hike, down from around 70% chance a week ago).
Hot CPI scenario (Core YoY > 2.5%): A surprise to the upside, driven by core goods price pass-throughs, would likely trigger a hawkish repricing in US short-term Treasury yields. This would provide a strong tailwind for the US Dollar Index, exposing GBP/USD to a rapid downward repricing toward the 1.3400 psychological level (also near the 20- and 200-day moving averages).Soft CPI scenario (Core YoY ≤ 2.5%): Confirmation of easing services inflation and softer shelter costs would give the Fed breathing room. A softer dollar would reinforce risk appetite, pushing GBP/USD above near-term hurdles toward multi-month highs.Let’s now decipher the near-term (1 to 3 days) outlook on the GBP/USD from a technical analysis perspective
Oscillating within minor ascending channel after a bullish breakout ex-post NFB
Fig. 2: GBP/USD minor trend as of 12 Aug 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance.
Fig. 2: GBP/USD minor trend as of 12 Aug 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. The price action of GBP/USD has cleared a significant medium-term hurdle after staging a bullish breakout ex-post the US NFP release (a major risk event on Friday, 7 August 2026), above its former descending trendline resistance from the 28 January 2026 high/52-week high.
In addition, it continues to oscillate within a minor ascending channel in place since the 29 July 2026 low of 1.3279, with a current bullish momentum reading on the hourly RSI (see Fig. 2).
These observations suggest that GBP/USD is oscillating within a short- to medium-term uptrend.
Watch the 1.3479 key short-term pivotal support to maintain a near-term bullish bias for the next intermediate resistances to come in at 1.3547, 1.3580 and 1.3643 (also a Fibonacci extension).
On the flip side, a failure to hold and an hourly close below 1.3479 invalidates the minor bullish impulsive up-move sequence, triggering a minor corrective decline towards the next intermediate supports at 1.3440 and 1.3400.
Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities.
Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an expert in using a unique combination of fundamental and technical analyses, specializing in Elliott Wave and fund flow positioning, to pinpoint key reversal levels in the financial markets.
In addition, over the last ten years, Kelvin has conducted numerous market outlook and trading-related seminars, as well as technical analysis training courses, for thousands of retail traders.
Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities.
Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an expert in using a unique combination of fundamental and technical analyses, specializing in Elliott Wave and fund flow positioning, to pinpoint key reversal levels in the financial markets.
In addition, over the last ten years, Kelvin has conducted numerous market outlook and trading-related seminars, as well as technical analysis training courses, for thousands of retail traders.
Sandisk schválil další zpětný odkup akcií za 14 miliard USD, čímž se celkový zbývající objem zvýšil na 15,5 miliardy USD. Management tím dává najevo důvěru v další růst firmy.
Sandisk (SNDK +2.68%) is a leading innovator in flash memory and advanced data storage solutions. The company supplies high-capacity NAND products essential for accelerated computing. In the artificial intelligence (AI) infrastructure era, Sandisk's enterprise solid-state drives (SSDs) and related technologies form a critical layer in hyperscale chip stacks -- providing massive data storage, retrieval, and low-latency access for inference workloads and next-generation agentic systems.
The AI data center build-out boom has transformed Sandisk's business, and its shares have gained ground accordingly. Since its return to the market as an independent public company in February 2025, the stock has risen by more than 3,400%. And even though the shares have surged more than 400% so far in 2026 alone, I think further gains appear almost certain as the company converts secular demand into durable revenue acceleration and earnings power.
Image source: The Motley Fool.
Looking at Sandisk's share buyback history Sandisk's approach to returning capital has accelerated since the company was spun off by Western Digital (which acquired it in 2016). In its fiscal 2026 third quarter (which ended April 3), the company's board of directors authorized a $6 billion share repurchase program.
Management moved swiftly, deploying roughly $4.5 billion during the fiscal fourth quarter alone to retire shares. With only $1.5 billion remaining under the prior authorization, the board approved an additional $14 billion buyback program, lifting the company's total remaining authorization to $15.5 billion. Its market cap is currently in the neighborhood of $186 billion.
This stepped-up commitment reflects both the scale of the company's cash flow generation and its clear intention to continue shrinking the company's share count at a meaningful pace.
Today's Change
(
2.68
%) $
33.13
Current Price
$
1,271.05
Why do companies buy back their own stock? Share buybacks serve as a unique form of capital allocation. By reducing the number of shares outstanding, companies increase earnings per share (EPS) and the ownership stakes of their remaining investors.
Generally speaking, management teams authorize stock buybacks only when they believe shares are trading below their intrinsic value or when the excess cash they have available exceeds their reinvestment needs. Sandisk's decision signals confidence: Leadership is effectively showcasing that the best use of its capital is to invest in the company's own equity rather than paying dividends, making acquisitions, or letting cash sit idle on the balance sheet.
Sustained buyback programs often coincide with periods when the underlying business is achieving robust cash generation and has an optimistic growth outlook, reinforcing the view that future earnings will justify the stock's current valuation.
Image source: Getty Images.
Why Sandisk stock remains a reasonable buy Despite its parabolic rise, Sandisk stock still screens as reasonably valued based on forward valuation metrics. Analysts' consensus estimates are for EPS of $212 for its fiscal 2027 (which just started last month). At its current share price, that gives it a forward price-to-earnings (P/E) ratio of roughly 6. This is quite modest compared to other leading semiconductor stocks in the AI chip value chain.
SNDK PE Ratio (Forward) data by YCharts.
Meanwhile, Sandisk's revenue rose by 175% to $20.3 billion in fiscal 2026 (which ended July 3). Sales during the fourth quarter alone hit $8.9 billion, up 372% from the prior-year period, and up 51% sequentially. Revenue from its data center segment more than doubled sequentially and rose 437% year over year.
Another important detail smart investors are not overlooking is Sandisk's ability to lock in future revenue through what it calls its "new business model" agreements -- long-term deals with large buyers of memory. The company has secured eight multiyear supply contracts that establish a minimum contracted revenue floor of $93.9 billion, supported by $16.5 billion in prepayments.
Its remaining performance obligations stand at roughly $60 billion and rise to more than $90 billion when accounting for recently signed customer expansions. These contract arrangements provide the company with a level of revenue visibility and pricing protection that prior memory cycles did not afford.
Combined with consistent free-cash-flow conversion and gross margins that have expanded to nearly 85%, the foundation for sustained revenue acceleration and compounding profitability is firmly in place. As this positions it for consistently higher earnings, I think valuation expansion becomes almost inevitable for Sandisk. Investors who are able to buy Sandisk stock at today's modest price point may want to consider scooping up shares with the intention to hold onto them over the next couple of years as the AI capex cycle unfolds.
SpaceX čeká další uvolnění akcií pro insidery: za devět dní bude možné prodat asi 319 milionů akcií, zhruba za 42,5 miliardy USD. Už první unlock zpřístupnil asi 911,5 milionu akcií.
Arguably, no event has been more talked about on Wall Street in 2026 than Elon Musk's Space Exploration Technologies (SpaceX) (SPCX -3.93%) shattering the stock market's record books. The $85.7 billion raised from its initial public offering (IPO), including the underwriters' overallotment, practically tripled the previous recordholder, Saudi Aramco.
But SpaceX made history with more than just its historic capital raise. The entire structure of SpaceX's IPO was unique. Unfortunately, that's terrible news for the retail investors who've been piling in.
Image source: Getty Images.
SpaceX's staggered and accelerated share unlock schedule isn't retail investor-friendly One of the more glaring differences between SpaceX's debut and the long list of brand-name IPOs that came before it lies in the lockup period.
Typically, newly public companies prohibit insiders (high-ranking executives, board members, and early investors, all of whom may possess non-public information) from selling their shares for 180 calendar days after an IPO. Lockup periods are designed to prevent insiders from taking advantage of early IPO gains or retail investor buzz.
SpaceX's lengthy registration statement indicated it would employ a staggered and accelerated lockup period. The first share unlock for early release-eligible insiders occurred on Aug. 6, two trading days after the company's first earnings release as a public company. Approximately 911.5 million shares became eligible for sale by early release-eligible insiders, representing in the neighborhood of $121 billion in potential selling pressure.
Great look at the SpaceX shares unlock schedule as well as the potential passive buying schedule from @JSeyff @FrancisSharoon Depending on the early post-IPO returns, this could really play with and disperse the returns of "passive" funds (which is why there's arguably no such... pic.twitter.com/KOuEkJlngF
-- Eric Balchunas (@EricBalchunas) May 28, 2026 Another share unlock event for insiders is right around the corner. On the 70th calendar day following SpaceX's debut, which is nine days from now on Aug. 21, another 7% of early release-eligible insider shares are available to be sold. This equates to approximately 319 million shares, or roughly $42.5 billion in added potential selling pressure.
On calendar days 90, 105, 120, 135, and 180 after SpaceX's debut, 319 million additional shares held by early release-eligible insiders can be sold.
Image source: Getty Images.
SpaceX's historically low float is about to go parabolic Furthermore, SpaceX initially sold roughly 555.6 million shares in its IPO (excluding the underwriters' overallotment). Though this might sound like a large figure, it represents less than 5% of the company's outstanding shares. Most companies going public sell 10% to 25% of their outstanding shares.
This low float, coupled with SpaceX gaining fast-track entry into the Nasdaq-100, Russell 1000, and Russell 3000, which required passive funds to purchase its stock, helped buoy SpaceX's share price. These dynamics won't be in place going forward as the company's float rapidly expands due to insider share lockup events.
Even though CEO Elon Musk can't sell any shares until 366 calendar days after the IPO, it's reasonable to assume that early investors, including employees, who've been unable to cash out their investment, are likely to take some of their chips off the table. With several staggered and accelerated share unlock periods, SpaceX's float is going to grow exponentially through mid-December.
-- Financelot (@FinanceLancelot) July 21, 2026 There's no way to frame these share unlock events as anything other than a fleecing of retail investors. It allows insiders to cash out at the expense of everyday investors.
With the next unlock event nine days away, and another share unlock occurring 20 calendar days after that, SpaceX stock is about as unfriendly as it gets for retail investors.
Elon Musk said SpaceX employees would "effectively be the parents of the AI." Fabrice Coffrini / AFP via Getty Images SpaceX is joining the new AI gold rush: employee data.
In a company all-hands, Elon Musk told staff that SpaceX plans to train its Grok AI on the company's data, including contributions from staff. This type of data has become a valuable commodity for tech companies training AI agents to use computers and perform real-world tasks.
"We're going to be training Grok on the sum total of all SpaceX information," Musk told employees in a video of the all-hands posted on X on Tuesday.
"So in a way, it will be trained on you," he added.
The world's richest man reiterated concerns he has been expressing for years about the risks of superintelligent AI that is not aligned with humanity's goals.
Musk suggested that training it on data from SpaceX employees — who he described as "a collection of some of the very best humans on Earth" — could imbue future models with what he considers desirable values.
"You will effectively be the parents of the AI. It will inherit your thoughts and ideas and beliefs, and I think that's a good thing," the SpaceX CEO said.
It is not clear what employee data SpaceX is planning to use to train its AI models, or how. The company did not respond to a request for comment.
Musk previously raised the prospect of training Grok on SpaceX data in the company's recent earnings call, and the rocket maker is not the only Big Tech giant eyeing employee data in the quest to improve AI models.
Having exhausted most of the readily available training data on the internet, AI companies are increasingly turning to data from employees and other sources, such as factory and sensor data, to improve their models' ability to navigate real-world tasks.
Meta launched a new initiative in April to collect employee keystrokes and mouse movements as training data to improve the company's AI models.
The plan sparked intense backlash from staff and was paused in June after private employee conversations and performance data were made available across the entire company, Business Insider exclusively reported.
Grok Bot SpaceX, which absorbed Musk's AI startup xAI months before going public in a record-breaking IPO, is attempting to catch up in the AI race. Grok has lagged behind cutting-edge models from OpenAI and Anthropic on some major benchmarks.
SpaceX's $60 billion acquisition of the AI coding startup Cursor is expected to close in the coming months. On Tuesday, SpaceX launched Grok Bot, an AI agent that is designed to perform tasks on a computer.
The company says Grok Bots can sign into apps and websites, draft emails, write code, and perform a wide range of other tasks autonomously. Training AI models to perform these kinds of agentic tasks often requires specially curated computer use data.
In the all-hands, Musk encouraged all SpaceX employees to use the company's AI and "make it better." The billionaire said that SpaceX's mission to dominate AI on Earth and in space would ultimately lead to soaring profits, a golden age of civilization, and teased holidays on the moon for employees.
"Anyone at SpaceX who wants to go to the moon or Mars will be able to go in the future. You have my word," Musk said.
Do you work at SpaceX and have thoughts about the company using employee data to train its AI models? Get in touch with this reporter at tcarter.41 on Signal or [email protected]. Use a personal email address and a nonwork device; here's our guide to sharing information securely.
Read next
Tom Carter You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
California State Teachers Retirement System snížil svůj podíl v Apple o 3,1 % v prvním čtvrtletí a prodal 708 401 akcií. Po transakci drží 22 272 610 akcií.
California State Teachers Retirement System lowered its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,272,610 shares of the iPhone maker’s stock after selling 708,401 shares during the period. Apple makes up approximately 6.0% of California State Teachers Retirement System’s holdings, making the stock its 2nd biggest position. California State Teachers Retirement System owned about 0.15% of Apple worth $5,652,566,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. First National Bank of Hutchinson lifted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC grew its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the period. Institutional investors own 67.73% of the company’s stock.
Analyst Ratings Changes Several analysts recently issued reports on AAPL shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a report on Friday, July 31st. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. Maxim Group restated a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Finally, Monness Crespi & Hardt raised their price target on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $328.60.
Check Out Our Latest Report on Apple
Apple Trading Down 1.1% Shares of AAPL stock opened at $304.91 on Wednesday. The firm has a market capitalization of $4.45 trillion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The firm’s fifty day simple moving average is $309.28 and its 200 day simple moving average is $284.26. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. During the same period in the prior year, the firm earned $1.57 EPS. The business’s revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 8.76 EPS for the current year.
Apple Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 12.39%.
Insiders Place Their Bets In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.
Key Headlines Impacting Apple Here are the key news stories impacting Apple this week:
Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm. About Apple (Free Report)
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
Read More Five stocks we like better than Apple Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEAdobe Inc. $ADBE Shares Sold by E. Ohman J or Asset Management AB
NEXT HEADLINE »E. Ohman J or Asset Management AB Has $2.49 Million Stock Holdings in Ecolab Inc. $ECL
WSJ upozornil na klauzuli v odměně Elona Muska, která by při změně kontroly Tesly mohla zrušit provozní milníky a otevřít cestu k výplatě až 824 miliard USD.
A Wall Street Journal report dissected on the TBPN podcast episode Nvidia’s $500B Compute Deal, Paramount Threatens CA Exit, Musk’s ‘Shortcut’ to $1T Payday | Diet TBPN is drawing fresh scrutiny to an obscure provision inside Elon Musk’s 2025 Tesla compensation plan. The clause could allow the world’s richest executive to skip the operational milestones that otherwise stand between him and one of the largest pay packages in corporate history.
Tesla (NASDAQ:TSLA | TSLA Price Prediction) shares traded at $332.81 as of the most recent close, giving the company a market capitalization of roughly $1.31 trillion. The stock is down 26% year to date and 18.38% over the past month.
The Package and the Shortcut Under the 2025 CEO Performance Award, Musk can earn up to 423 million Tesla shares across 12 tranches. Each tranche requires Tesla to hit both a market capitalization target and an operational milestone. The operational goals across the full package include delivering 20 million vehicles, reaching 10 million active FSD subscriptions, producing 1 million Optimus robots, and putting 1 million robotaxis into commercial operation. The Journal estimates the maximum award is currently worth approximately $824 billion.
The catch surfaced by the WSJ, as unpacked on TBPN: if Tesla undergoes a change of control, those operational requirements disappear entirely. As the discussion framed it, “Instead of spending the next decade hitting a dozen separate operating goals, a sufficiently expensive acquisition of Tesla could effectively declare those goals accomplished.” For all 12 tranches to unlock through a deal, Tesla’s value at the time of the transaction would need to reach $8.5 trillion, more than 6 times its recent market cap.
Tesla shareholders approved the compensation plan in November, and would still need to approve any acquisition. Evidence that the award is already flowing through Tesla’s income statement is visible in the Q2 2026 8-K filing, which attributes a 47% year-over-year surge in operating expenses to $4.35 billion to AI infrastructure buildout, R&D, and stock-based compensation tied to the CEO award.
SpaceX as the Only Plausible Buyer The speculated acquirer is SpaceX, a privately held company also valued in the trillions and the only entity plausibly capable of such a deal. Speculation intensified after WSJ reported that Tesla executives were considering separating the company’s China business through a spin-off, sale, or closure to pave the way for a potential SpaceX merger, a claim Musk publicly denied. Prediction markets remain skeptical, assigning only a 17.5% probability to a Tesla-SpaceX merger being announced by year-end 2026.
Analysts are split. RBC Capital Markets sees a hypothetical combined entity valued at $3.31 trillion with Tesla shareholders owning 54%, and other analysts suggest an all-stock deal could carry a 20-30% premium for Tesla holders. Future Fund’s Gary Black has pushed back, arguing that SpaceX could not afford Tesla due to significant dilution to SpaceX shareholders.
The U-Shape Incentive One TBPN host described Musk’s payoff curve as a “U-shape.” Musk owns 19.9% of Tesla as of June 17, 2026, based on 413,152,109 shares. Because his stake in SpaceX is larger, he arguably benefits from acquiring Tesla at a very low price, and he also benefits at a very high price through expanded Tesla equity. The middle, per the discussion, is messy.
What to Watch Tesla’s Q2 2026 operating margin compressed to 1.4%, with free cash flow turning negative at -$1.09 billion even as deliveries hit a record 480,126 vehicles and FSD subscriptions climbed to 1.48 million (+56% YoY). Analyst consensus target sits at $396.62, well below anything approaching the $8.5 trillion threshold. For investors, the compensation clause is worth tracking because it aligns Musk’s incentives around a corporate event that would rewrite Tesla’s governance, not just its market cap.
Contact [email protected] for any questions or corrections.
At $332.81, Tesla (NASDAQ:TSLA | TSLA Price Prediction) looks meaningfully overvalued. The stock has slid 26% year to date while the market has climbed, yet it trades at a valuation that assumes near-flawless execution on projects that have not yet earned a dollar.
Tesla remains an automaker. Automotive sales contributed $20.0 billion of $28.24 billion Q2 2026 revenue, with Energy at $3.14 billion and Services at $4.58 billion. The market prices it as an AI, robotics, and autonomy platform. That gap between current earnings and what shareholders pay for tomorrow is the entire debate.
The Bull Case: A Software and Robotics Flywheel Deliveries hit a Q2 record of 480,126 vehicles, up 25% year over year, and energy storage deployments rose 41%. Services revenue expanded 50%, and active FSD subscriptions reached 1.48 million, up 56%, with attach rates above 55% on new North American deliveries. Bulls cite robotaxi service now live in seven U.S. metros, Cybercab production starting at Gigafactory Texas, Optimus lines being installed, and a $43.5 billion cash pile that funds ambitions few rivals can match.
The Bear Case: A Trillion-Dollar Automaker With Auto Economics Q2 2026 was ugly beneath the delivery headline. EPS of $0.33 missed the $0.5367 consensus estimate. Operating income fell 57% to $398 million, operating margin compressed to 1.4%, and free cash flow flipped to negative $1.09 billion as capex jumped 142%. Regulatory credits dropped to $146 million. Morgan Stanley recently argued Tesla needs “clearer evidence of its Robotaxi program scaling to increase investor confidence.”. An ongoing NHTSA suspension probe adds operational noise.
The Case for Patience: Cash Cushion, No Catalyst The balance sheet, with $43.5 billion in cash and modest leverage, is solid. The problem is timing. Polymarket traders assign only a 14.5% probability to Optimus releasing by year end and a 17.5% probability to a Tesla-SpaceX merger announcement. Investors waiting for confirmation on unit economics from robotaxi or FSD monetization may prefer to watch quarterly margin trends and delivery mix before committing new capital.
What the Stock Is Telling Us Tesla trades at $332.81 against an analyst consensus target of $396.62, implying roughly 19% upside if targets hold. Coverage splits 6 Strong Buy, 17 Buy, 18 Hold, 4 Sell, and 2 Strong Sell, hardly a conviction call. Shares fetch 304 times trailing earnings and 169 times forward earnings, with EV/EBITDA at 106 and a PEG of 5. Over the past month the stock is down 18.38%, and it has fallen 12.3% since the Q2 filing while the SPY rose 4.4%. Year to date, TSLA is off 26% against a market grinding higher.
The Verdict: Overvalued at $333 At $333, Tesla looks overvalued on the numbers. The company is valued as if autonomy, robotaxis, and Optimus already generate meaningful profit, while today’s financials show the opposite. Q2 delivered record volume yet margins collapsed and free cash flow went negative, meaning growth is destroying near-term shareholder value while the multiple assumes the opposite.
Any slip in robotaxi ramp, any Optimus timeline push, or another quarter of operating margin near 1.4% forces the market to reprice Tesla closer to auto peers trading at single-digit multiples. Even a partial derating from 304 times earnings toward premium tech multiples in the 40 to 60 range implies substantial downside from here.
What would invalidate the thesis: a step change in FSD unit economics, a credible robotaxi profit disclosure, or Optimus revenue that is measurable rather than promised. Absent those, the risk/reward remains skewed to the downside. Watch Q3 operating margin, capex trajectory, and any pricing action in China and Europe.
Paying 304 times earnings for an automaker whose profitability is going the wrong way is a bet that Tesla can outrun physics, competition, and time all at once, and $333 is still too much to pay for that bet.
Contact [email protected] for any questions or corrections.
Amazon zvýšil čisté tržby o 20 %, ale masivní kapitálové výdaje stlačily volný cash flow na -7,6 miliardy USD za posledních 12 měsíců. Akcie tak obchodují za pouhý 22násobek očekávaného zisku.
The price action on Amazon (AMZN -2.09%) stock may leave investors scratching their heads. The 20% net sales growth is an improvement over 2025, when growth rates were barely above double digits.
However, despite an improved performance, its forward P/E ratio has fallen to just 22, a level that would have been unimaginable in Amazon's earlier years. Although we do not know for sure why it has become so cheap, one aspect of its financials may have made some investors hesitant to buy the stock.
Image source: The Motley Fool.
The likely reason Amazon's valuation is so low The factor most likely making investors skittish about Amazon stock is its capital expenditures (capex).
In the report for the second quarter of 2026, Amazon announced that it would increase capex spending for the year to $220 billion, up from the $200 billion estimate in the prior quarter. The company said it needed additional funding to cover the cost of memory chips, whose prices shot up amid an unprecedented shortage.
This comes after Amazon spent almost $132 billion in 2025, and the strain on its balance sheet has begun to show. The company holds about $123 billion in liquidity, which investors might typically view as a sign of balance-sheet strength.
Still, free cash flow has fallen to -$7.6 billion over the trailing 12 months (TTM). This is down from the $18.2 billion in TTM free cash flow in the year-ago quarter, indicating that Amazon's spending has begun to strain its financials.
Due in part to those expenditures, long-term debt also increased by 96% over the previous year to almost $129 billion. Considering the change in its financial situation, investors might be questioning whether Amazon can recoup this massive investment in AI infrastructure.
Moreover, amid the aforementioned 22 forward P/E ratios, investors may overlook that Amazon also trades at a 22 trailing P/E ratio. This implies that earnings growth will struggle, which is probably not a reassuring sign for investors right now.
Today's Change
(
-2.09
%) $
-5.82
Current Price
$
272.27
Nonetheless, Amazon stock hit a new all-time high following the Q2 earnings release. Also, accelerating net sales growth is a sign that it is recouping its investment, particularly given the 37% increase in its cloud computing arm, Amazon Web Services (AWS).
Furthermore, one could argue that Amazon's aforementioned negative free cash flow is actually strong, given the staggering level of capex spending. That could induce investors to see the 22 forward P/E ratio as an overreaction and convince them to add to their Amazon positions.
Amazon's stock going forward Admittedly, Amazon's unprecedented capex spending has strained its balance sheet and turned its free cash flow negative. When also considering the added borrowing, it could cause Amazon significant financial pain if the company's investment in itself does not pay off. This heavy capex spending is the most likely explanation for its low valuation.
Fortunately, Amazon's net sales growth has accelerated, and the company's continued growth and high liquidity have long attracted investors to the stock. Those factors might be a compelling reason to buy the consumer discretionary stock at 22 times forward earnings.
Cooper Creek Partners Management LLC grew its stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,561 shares of the software giant’s stock after acquiring an additional 4,117 shares during the quarter. Cooper Creek Partners Management LLC’s holdings in Microsoft were worth $14,274,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of MSFT. Longfellow Investment Management Co. LLC increased its stake in Microsoft by 51.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant’s stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. Bernzott Capital Advisors bought a new position in shares of Microsoft in the fourth quarter worth approximately $34,000. Timmons Wealth Management LLC bought a new position in shares of Microsoft in the fourth quarter worth approximately $36,000. Fairway Wealth LLC grew its holdings in shares of Microsoft by 287.0% during the fourth quarter. Fairway Wealth LLC now owns 89 shares of the software giant’s stock valued at $43,000 after buying an additional 66 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Microsoft during the fourth quarter valued at approximately $44,000. 71.13% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets In other Microsoft news, EVP Takeshi Numoto sold 4,810 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total value of $2,388,068.80. Following the transaction, the executive vice president directly owned 42,677 shares of the company’s stock, valued at approximately $21,188,276.96. This trade represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amy Coleman sold 1,262 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $411.34, for a total value of $519,111.08. Following the sale, the executive vice president owned 46,003 shares of the company’s stock, valued at approximately $18,922,874.02. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 38,572 shares of company stock valued at $17,775,330. Insiders own 0.03% of the company’s stock.
Analyst Upgrades and Downgrades A number of equities analysts recently weighed in on MSFT shares. China Renaissance decreased their price objective on shares of Microsoft from $630.00 to $550.00 and set a “buy” rating for the company in a report on Monday, May 4th. Cantor Fitzgerald increased their target price on Microsoft from $502.00 to $522.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Wells Fargo & Company lifted their target price on Microsoft from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $640.00 price target on shares of Microsoft in a report on Thursday, July 30th. Finally, Mizuho dropped their price objective on Microsoft from $515.00 to $490.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Forty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $559.16.
View Our Latest Analysis on Microsoft
Microsoft Trading Down 0.4% NASDAQ:MSFT opened at $503.81 on Wednesday. The company has a market cap of $3.74 trillion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $407.02 and a two-hundred day simple moving average of $407.37. Microsoft Corporation has a 12 month low of $349.20 and a 12 month high of $553.72.
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.50. Microsoft had a return on equity of 31.98% and a net margin of 40.31%.The firm had revenue of $90.01 billion for the quarter, compared to analysts’ expectations of $87.62 billion. During the same period in the prior year, the firm earned $3.65 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. Research analysts forecast that Microsoft Corporation will post 19.58 earnings per share for the current year.
Microsoft Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 0.7%. Microsoft’s dividend payout ratio is currently 20.27%.
Microsoft News Summary Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Microsoft’s latest earnings showed stronger-than-expected profitability and revenue, with Azure growth and Copilot adoption reinforcing the view that substantial AI investment is beginning to generate returns. Hedge funds and institutional investors continue to favor Microsoft over some other mega-cap technology names. Hedge Funds Favor Microsoft Over Meta Positive Sentiment: Bernstein raised its Microsoft price target to $660 and maintained an Outperform rating, arguing that Microsoft’s data-center expansion is measured, flexible, and supported by durable cloud demand. Other analysts also identified Azure growth, backlog, and institutional buying as potential catalysts for a year-end rally. Bernstein Raises Microsoft Target Positive Sentiment: Reports that Microsoft may unveil its Maia 300 AI chip as early as September and secure production capacity for more than 300,000 units could reduce reliance on Nvidia processors, lower long-term AI costs, and support Microsoft’s cloud strategy. Microsoft Maia 300 Chip Report Microsoft Company Profile (Free Report)
Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.
Microsoft’s product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).
Further Reading Five stocks we like better than Microsoft Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEBank of America Corp DE Purchases 767,913 Shares of JPMorgan International Bond Opportunities ETF $JPIB
NEXT HEADLINE »Bank of America Corp DE Sells 48,564 Shares of Pentair plc $PNR
Blue Chip Partners zvýšila podíl v Microsoftu o 1,3 % v 1. čtvrtletí a po nákupu 1 314 akcií nyní drží 102 117 akcií v hodnotě 37,8 mil. USD. Microsoft zároveň oznámil čtvrtletní dividendu 0,91 USD na akcii.
Blue Chip Partners LLC raised its holdings in Microsoft Corporation (NASDAQ:MSFT – Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,117 shares of the software giant’s stock after buying an additional 1,314 shares during the period. Microsoft comprises about 2.7% of Blue Chip Partners LLC’s holdings, making the stock its 9th largest position. Blue Chip Partners LLC’s holdings in Microsoft were worth $37,801,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MSFT. Longfellow Investment Management Co. LLC lifted its holdings in shares of Microsoft by 51.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant’s stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. Shepherd Kaplan Krochuk LLC boosted its position in shares of Microsoft by 4.9% during the third quarter. Shepherd Kaplan Krochuk LLC now owns 431 shares of the software giant’s stock valued at $223,000 after buying an additional 20 shares during the last quarter. Fischer Investment Strategies LLC grew its holdings in Microsoft by 3.1% during the fourth quarter. Fischer Investment Strategies LLC now owns 697 shares of the software giant’s stock worth $337,000 after buying an additional 21 shares in the last quarter. Pollock Investment Advisors LLC grew its holdings in Microsoft by 0.8% during the third quarter. Pollock Investment Advisors LLC now owns 2,805 shares of the software giant’s stock worth $1,453,000 after buying an additional 21 shares in the last quarter. Finally, Better Money Decisions LLC raised its position in Microsoft by 0.6% in the 2nd quarter. Better Money Decisions LLC now owns 3,498 shares of the software giant’s stock valued at $1,740,000 after buying an additional 21 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.
Microsoft News Roundup Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Microsoft’s latest earnings showed stronger-than-expected profitability and revenue, with Azure growth and Copilot adoption reinforcing the view that substantial AI investment is beginning to generate returns. Hedge funds and institutional investors continue to favor Microsoft over some other mega-cap technology names. Hedge Funds Favor Microsoft Over Meta Positive Sentiment: Bernstein raised its Microsoft price target to $660 and maintained an Outperform rating, arguing that Microsoft’s data-center expansion is measured, flexible, and supported by durable cloud demand. Other analysts also identified Azure growth, backlog, and institutional buying as potential catalysts for a year-end rally. Bernstein Raises Microsoft Target Positive Sentiment: Reports that Microsoft may unveil its Maia 300 AI chip as early as September and secure production capacity for more than 300,000 units could reduce reliance on Nvidia processors, lower long-term AI costs, and support Microsoft’s cloud strategy. Microsoft Maia 300 Chip Report Analysts Set New Price Targets A number of equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Microsoft in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Microsoft in a report on Monday, July 6th. Barclays dropped their price target on shares of Microsoft from $545.00 to $512.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Scotiabank restated an “outperform” rating and set a $510.00 price target on shares of Microsoft in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn reduced their price objective on shares of Microsoft from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Forty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and a consensus target price of $559.16.
View Our Latest Analysis on Microsoft
Microsoft Trading Down 0.4% Shares of MSFT opened at $503.81 on Wednesday. Microsoft Corporation has a fifty-two week low of $349.20 and a fifty-two week high of $553.72. The business has a 50-day moving average of $407.02 and a 200 day moving average of $407.37. The firm has a market cap of $3.74 trillion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23.
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 EPS for the quarter, beating the consensus estimate of $4.24 by $0.50. The business had revenue of $90.01 billion for the quarter, compared to the consensus estimate of $87.62 billion. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.65 earnings per share. As a group, research analysts forecast that Microsoft Corporation will post 19.58 EPS for the current year.
Microsoft Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 20th. Microsoft’s dividend payout ratio is presently 20.27%.
Insider Buying and Selling In other Microsoft news, CEO Judson Althoff sold 15,500 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $460.99, for a total transaction of $7,145,345.00. Following the sale, the chief executive officer owned 110,477 shares of the company’s stock, valued at $50,928,792.23. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amy Coleman sold 1,262 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $411.34, for a total value of $519,111.08. Following the sale, the executive vice president owned 46,003 shares in the company, valued at approximately $18,922,874.02. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 38,572 shares of company stock valued at $17,775,330. Company insiders own 0.03% of the company’s stock.
About Microsoft (Free Report)
Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.
Microsoft’s product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).
Recommended Stories Five stocks we like better than Microsoft Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEEmpowered Funds LLC Has $281.15 Million Holdings in Alphabet Inc. $GOOGL
NEXT HEADLINE »Microsoft Corporation $MSFT is Cypress Capital Group’s 3rd Largest Position
Aristotle Atlantic Partners LLC boosted its stake in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,829 shares of the software giant’s stock after purchasing an additional 10,771 shares during the period. Microsoft makes up about 6.0% of Aristotle Atlantic Partners LLC’s portfolio, making the stock its 2nd biggest position. Aristotle Atlantic Partners LLC’s holdings in Microsoft were worth $128,386,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of MSFT. Longfellow Investment Management Co. LLC lifted its position in Microsoft by 51.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 59 shares of the software giant’s stock worth $29,000 after acquiring an additional 20 shares during the period. Shepherd Kaplan Krochuk LLC increased its holdings in shares of Microsoft by 4.9% in the third quarter. Shepherd Kaplan Krochuk LLC now owns 431 shares of the software giant’s stock valued at $223,000 after purchasing an additional 20 shares during the period. Fischer Investment Strategies LLC raised its stake in shares of Microsoft by 3.1% in the fourth quarter. Fischer Investment Strategies LLC now owns 697 shares of the software giant’s stock worth $337,000 after purchasing an additional 21 shares during the last quarter. Pollock Investment Advisors LLC raised its stake in shares of Microsoft by 0.8% in the third quarter. Pollock Investment Advisors LLC now owns 2,805 shares of the software giant’s stock worth $1,453,000 after purchasing an additional 21 shares during the last quarter. Finally, Better Money Decisions LLC lifted its holdings in shares of Microsoft by 0.6% during the second quarter. Better Money Decisions LLC now owns 3,498 shares of the software giant’s stock worth $1,740,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.
Analysts Set New Price Targets Several brokerages recently weighed in on MSFT. Scotiabank reiterated an “outperform” rating and issued a $510.00 price target on shares of Microsoft in a report on Thursday, July 30th. Argus decreased their price objective on shares of Microsoft from $620.00 to $510.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Dbs Bank cut their price objective on shares of Microsoft from $678.00 to $573.00 in a research note on Thursday, May 7th. Mizuho reduced their target price on shares of Microsoft from $515.00 to $490.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Finally, Guggenheim restated a “buy” rating and set a $586.00 target price on shares of Microsoft in a research report on Monday, July 27th. Forty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Microsoft presently has a consensus rating of “Moderate Buy” and an average target price of $559.16.
Read Our Latest Stock Analysis on Microsoft
Microsoft News Summary Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Microsoft’s latest earnings showed stronger-than-expected profitability and revenue, with Azure growth and Copilot adoption reinforcing the view that substantial AI investment is beginning to generate returns. Hedge funds and institutional investors continue to favor Microsoft over some other mega-cap technology names. Hedge Funds Favor Microsoft Over Meta Positive Sentiment: Bernstein raised its Microsoft price target to $660 and maintained an Outperform rating, arguing that Microsoft’s data-center expansion is measured, flexible, and supported by durable cloud demand. Other analysts also identified Azure growth, backlog, and institutional buying as potential catalysts for a year-end rally. Bernstein Raises Microsoft Target Positive Sentiment: Reports that Microsoft may unveil its Maia 300 AI chip as early as September and secure production capacity for more than 300,000 units could reduce reliance on Nvidia processors, lower long-term AI costs, and support Microsoft’s cloud strategy. Microsoft Maia 300 Chip Report Microsoft Stock Performance Shares of NASDAQ MSFT opened at $503.81 on Wednesday. The company has a market capitalization of $3.74 trillion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. The company’s fifty day moving average price is $407.02 and its 200 day moving average price is $407.37. Microsoft Corporation has a 1 year low of $349.20 and a 1 year high of $553.72.
Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.50. The company had revenue of $90.01 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.65 earnings per share. On average, research analysts predict that Microsoft Corporation will post 19.58 earnings per share for the current year.
Microsoft Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 20th. Microsoft’s payout ratio is currently 20.27%.
Insider Buying and Selling In other Microsoft news, EVP Takeshi Numoto sold 4,810 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total value of $2,388,068.80. Following the sale, the executive vice president directly owned 42,677 shares of the company’s stock, valued at approximately $21,188,276.96. This trade represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Judson Althoff sold 15,500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $460.99, for a total value of $7,145,345.00. Following the completion of the sale, the chief executive officer owned 110,477 shares of the company’s stock, valued at $50,928,792.23. This trade represents a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,572 shares of company stock valued at $17,775,330. 0.03% of the stock is owned by company insiders.
Microsoft Profile (Free Report)
Microsoft Corporation is a global technology company headquartered in Redmond, Washington. Founded in 1975 by Bill Gates and Paul Allen, Microsoft develops, licenses and supports a broad range of software products, services and devices for consumers, enterprises and governments worldwide. Its operations span personal computing, productivity software, cloud infrastructure, enterprise applications, developer tools and gaming.
Microsoft’s product portfolio includes the Windows operating system and the Microsoft 365 suite of productivity and collaboration tools (Office apps, Outlook, Teams).
Further Reading Five stocks we like better than Microsoft Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for Microsoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsoft and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEAssenagon Asset Management S.A. Reduces Stock Position in TotalEnergies SE Sponsored ADR $TTE
NEXT HEADLINE »Bank of America Corp DE Boosts Stock Position in Dimensional International Core Equity 2 ETF $DFIC
Microsoft ve fiskálním roce končícím 30. června zvýšil tržby o 18 % na více než 331 miliard USD a provozní zisk o 21 % na více než 155 miliard USD. AI byznys firmy dosáhl ročního tempa 37 miliard USD.
For the last five years, I've been the person rolling my eyes at Microsoft's (MSFT -0.45%) valuation and calling it priced for perfection. Today, after its latest set of numbers and the way the company has embedded itself into AI, cloud, and everyday work, I'm finally willing to say it: At these levels, Microsoft is an easy buy for a long‑term investor.
Back in the 2021 to 2022 time frame, my skepticism sounded reasonable. Microsoft was trading at a rich multiple compared with its own history, and it felt like everyone already knew the bull case: dominant Windows, sticky Office, and fast‑growing Azure. I kept waiting for growth to slow or margins to crack.
Instead, 2026 gave a very different picture. In the fiscal year that ended June 30, Microsoft's revenue climbed 18% to more than $331 billion, while operating income rose 21% to more than $155 billion. Net income hit $133.7 billion, with full‑year EPS growth comfortably above 20% even after stripping out gains from OpenAI and Anthropic investments. Those are not the numbers of a mature company just coasting on its legacy.
Image source: Getty Images.
Microsoft is turning into an AI tycoon The AI story is where I was most wrong. I assumed the AI halo would be mostly narrative. Instead, it has become a concrete, growing business.
In the latest quarter, revenue reached $90 billion, up 18% year over year, driven by 32% growth in the Intelligent Cloud segment and Azure revenue now surpassing $100 billion annually. Microsoft says its AI business has crossed a $37 billion annual run rate, growing 123% year over year. This is not really a side hustle. It's a growth engine.
On top of this, Azure grew 43% year over year in fiscal Q4 2026, and CEO Satya Nadella said Microsoft's custom AI chips can deliver up to 40% better performance per watt, potentially improving cloud margins and earnings.
Today's Change
(
-0.45
%) $
-2.25
Current Price
$
503.81
Copilot is the clearest proof that this is real monetization, not just GPU reselling. Microsoft 365 Copilot has already passed 30 million paid seats, with net seat adds more than doubling quarter over quarter as enterprises move from pilots to production.
Microsoft is rolling Copilot out across knowledge work, coding, security, and even as a super app that ties consumer and commercial experiences together. That means AI is getting woven into the subscription backbone of the company's productivity and business software.
The part that finally changed my mind, though, is the valuation-versus-execution debate. As of early August 2026, Microsoft trades at a trailing P/E of 28 to 28.5, which is slightly below its 10‑year average of 30. Forward P/E estimates sit around 25 based on current consensus, even as the company continues to grow revenue in the high teens and EPS in the low-to-mid‑20s.
That is not cheap in an absolute sense, but for a business with Microsoft's moat and growth profile, it looks more like fair for a wonderful company than irrational exuberance.
I think it's time to buy Could I wait for a better entry point? Sure. There will always be a pullback. But the last five years have taught me that trying to shave a few multiple points off the price has been far more costly than simply owning a compounding machine that keeps finding new profit pools -- first cloud, now AI, and next whatever sits on top of that stack.
Microsoft today is not just a safe blue chip; it is one of the few companies genuinely defining the next era of enterprise computing. I spent half a decade treating it as too expensive. Now I'm much more worried about the opportunity cost of staying on the sidelines.
Michael Burry uvedl, že Berkshire Hathaway už nepovažuje za atraktivní investici. Kritizuje, že první kroky Grega Abela působí spíše jako marketingový rámec než skutečné investice.
Berkshire Hathaway (NYSE: BRKA) (BRKB -2.46%) has generated market-crushing returns for roughly six decades.
Investors attribute the superior performance largely to its longtime former chief executive officer, Warren Buffett, who stepped down from the role at the end of last year. The loss of Buffett seemed to remove some of the premium that investors paid for Berkshire's stock, which has underperformed the broader market this year.
While Buffett handpicked new CEO Greg Abel to lead the company, the market hasn't been completely sold. However, Berkshire's stock has bounced back during the past month, up 4.6% (as of Aug. 11), as Abel has begun to deploy some of Berkshire's huge cash pile.
Still, this hasn't convinced The Big Short's Michael Burry, who recently said on Substack that he no longer finds Berkshire to be "an attractive investment." Does Burry know something that Wall Street doesn't?
Image source: Getty Images.
Concerns about the long-term strategy It's not a surprise that Abel will have nearly impossible shoes to fill as Buffett's successor. Warren Buffett became an icon in the stock market for his investing prowess, so that would be true for anyone stepping into the role.
One issue investors have had in recent years is Berkshire's towering cash pile, which reached almost $400 billion at the end of the first quarter.
Today's Change
(
-2.46
%) $
-13.04
Current Price
$
516.38
Although Buffett has expressed concern about speculation and frothiness in the market in recent years, investors have surely been hoping that Berkshire could make more productive use of the staggering amount of cash the company has been sitting on.
Abel has started to do this. Abel has significantly increased Berkshire's equity position in Alphabet, which is now a top-five holding in the portfolio.
Berkshire also announced the acquisition of Taylor Morrison Homes in the second quarter for $6.8 billion, and repurchased roughly $4.5 billion of its own stock, more than the company had repurchased in either 2024 or 2025.
Furthermore, Berkshire was a net buyer of stocks in the second quarter, breaking a 14-quarter streak of net selling. Still, Burry has concerns that Abel may not take the same approach as Buffett.
"My biggest fear for Berkshire Hathaway was that when Warren finally stepped down, the successor would be too old and otherwise not Warren, so would not have his patience for the fat pitch," Burry wrote on Substack. "I believe this fear has come true. I do not find Berkshire an attractive investment going forward. I realize not too much of the cash pile has been spent, and the cash pile remains large. However, these first steps look to be more framing moves than investment moves."
By "fat pitch," Burry is using to a baseball term that refers to a pitch right down the middle of home plate, which looks like it is perfect to hit. Buffett made this term famous in his investing philosophy by likening the "fat pitch" to an obvious, low-risk opportunity that the market is mispricing.
While I am just speculating, it's quite possible that Burry is not pleased with Abel's decision to invest so heavily in Alphabet, a company that, along with other major artificial intelligence (AI) players, he's been critical of, particularly some of its accounting practices regarding how it estimates the useful life of equipment.
Damned if you do, damned if you don't Burry is considered one of the brightest investors around, so perhaps he's right. But it also seems as if he's being a bit harsh toward Abel.
Although Buffett wasn't penalized by the market for carrying nearly $400 billion of cash without paying a dividend, the market may not have the same patience for Abel, so the new CEO is damned if he puts cash to work and damned if he doesn't.
It's true that Alphabet is beholden to the AI trade and will likely see its stock suffer if AI suffers a significant setback. However, there are worse AI stocks to invest in, and Alphabet probably can weather a crash better than most AI stocks.
Furthermore, sitting on the sidelines while AI booms is easier said than done. Sure, investors who manage to avoid a crash will certainly be rewarded. But they can also be punished if they avoid AI and it goes on to generate gigantic returns.
Berkshire probably isn't going to be a real growth stock again, but it still could serve as a good hedge in the portfolio, especially if the market falters. The stock will generate solid long-term returns through the entire economic cycle.
Bank of America spouští 18měsíční iniciativu Critical Infrastructure Finance Initiative, v níž chce mobilizovat a nasadit 250 miliard USD na financování americké infrastruktury. Program má podpořit digitální, energetickou a energeticko-přenosovou i základní infrastrukturu.
Initiative aims to help strengthen and modernize America's infrastructure, supporting energy security, U.S. job growth and economic competitiveness
Key points
Bank of America's Critical Infrastructure Finance Initiative to help drive transformative infrastructure investment across the United States, honoring America's 250th anniversary Bank of America to support the development of digital, energy and power, and core infrastructure that enhances national competitiveness by strengthening energy security, accelerating technological leadership and enabling long-term economic growth Initiative to help create tens of thousands of jobs and advance community development Capital to be mobilized and deployed over 18 months, from America's 250th year in 2026 through July 4, 2027 , /PRNewswire/ -- In celebration of America's 250th anniversary, Bank of America today announced the Critical Infrastructure Finance Initiative to mobilize and deploy $250 billion to support U.S. infrastructure development through financing, investment and advisory solutions. The initiative reflects the company's commitment to financing digital, energy and power, and core infrastructure development and modernization to help fuel America's next era of economic growth, innovation and competitiveness. Capital will be mobilized and deployed from over 18 months, from America's 250th year in 2026 through July 4, 2027.
Surging demand for computing power, energy, manufacturing capacity, modern transportation systems and diversified supply chains is propelling a new wave of infrastructure investment across the United States. Bank of America is helping clients across these sectors access the capital they need through our global capital markets platform, advisory expertise and strong balance sheet support, driving investment and creating tens of thousands of jobs nationwide.
"We are proud of our long history supporting the American economy. As America marks its 250th year, this initiative reflects our confidence in the country's future and the investments that will shape it," said Jim DeMare, Co-President, Bank of America. "The infrastructure that powers our economy, strengthens our energy security and secures our technological leadership will drive growth, create jobs and define America's next chapter."
Financial activity – including primary market lending, investing, capital markets, banking and advisory solutions – will span three broad infrastructure categories:
Digital infrastructure, such as data centers and computing infrastructure (hardware, chips, and equipment), telecommunications and semiconductors Energy and power infrastructure, such as conventional and renewable power generation and energy storage, as well as other energy distribution systems Core infrastructure, such as transportation, electric and energy transmission, grid optimization, water systems, critical minerals and mining, and other assets "Meeting America's growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors," said Karen Fang, Global Head of Infrastructure & Sustainable Finance and Co-Head of Global Capital Solutions at Bank of America. "Delivering these projects requires integrated financing solutions spanning corporate and project-level capital in both public and private markets. By bringing together capital providers, developers, corporations and investors, we are focused on helping accelerate investment in infrastructure that drives economic growth and creates lasting value for communities."
The effort will be led by Bank of America's Global Capital Solutions (GCS) and Global Infrastructure & Sustainable Finance (GISFG) teams and is supported across all eight lines of business. Bank of America provides integrated financing, investment, advisory and supply chain solutions for clients at both the corporate and asset levels, and across public and private markets.
Frequently asked questions
Question: What is Bank of America announcing?
Answer: Bank of America announced the Critical Infrastructure Finance Initiative to mobilize and deploy $250 billion to support the development and modernization of American infrastructure, through financing, investment, advisory and supply chain solutions. The amount will be measured based on eligible activity over 18 months, from America's 250th year, January 1, 2026 through July 4, 2027.
Question: What types of infrastructure are included?
Answer: Eligible activity spans three broad categories:
Digital infrastructure, such as data centers and computing infrastructure (hardware, chips, and equipment), telecommunications and semiconductors Energy and power infrastructure, such as conventional and renewable power generation and energy storage, as well as other energy distribution systems Core infrastructure, such as transportation, electric and energy transmission, grid optimization, water systems, critical minerals and mining, and other assets Question: How will progress toward the goal be measured?
Answer: Progress for this initiative will be measured solely based on eligible activity in primary market lending, investing, capital markets and advisory transactions, consistent with Bank of America's methodology for its $1.5 trillion ten-year sustainable finance goal.
Question: Why is Bank of America announcing this now?
Answer: The $250 billion Critical Infrastructure Finance Initiative is in recognition of America's 250th anniversary and reflects the important role private capital plays in financing the critical infrastructure that supports economic growth, innovation and competitiveness.
Question: How is the Critical Infrastructure Finance Initiative creating jobs?
Answer:
Infrastructure financing helps drive job creation across sectors including construction, manufacturing, technology and long-term operations. By providing capital for digital, energy and power, and core infrastructure projects, the initiative helps enable investments that support employment opportunities nationwide. Infrastructure investment and workforce development go hand in hand. Projects such as data centers, power generation facilities, grid modernization projects and transportation infrastructure require a highly skilled workforce to build, operate and maintain them. Alongside financing these investments, Bank of America supports workforce development through longstanding training, education and career pathway programs that help connect people to the skills and jobs these projects create. In 2025, Bank of America invested nearly $40 million in more than 730 workforce development partners including employers, nonprofits and community colleges across 97 U.S. markets. These partners estimate that the funding helped connect more than 90,000 people to employment opportunities and provided over 290,000 individuals with access to training, education and career-readiness programs. Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Reporters may contact
John Yiannacopoulos, Bank of America
Phone: 1.646.855.2314
[email protected]
Sheryl Lee, Bank of America
Phone: 1.657.234.9950
[email protected]
Rocky Shore Gold zahájila první fázi vrtů v nově vymezené oblasti Mosquito Target Horizon jižně od ložiska Mosquito Hill v projektu Gold Anchor. Cílem je otestovat okraje mineralizace a novou geologickou zónu s vysokou rezistivitou.
TORONTO, ON / ACCESS Newswire / August 12, 2026 / Rocky Shore Gold Ltd. ("Rocky Shore" or the "Company") (CSE:RSG)(OTCQB:RSGLF) is pleased to announce the commencement of a first-phase drill program at a newly termed Mosquito Target Horizon immediately south of the Company's Mosquito Hill Gold Deposit. The Mosquito Hill Gold Deposit is part of its 100%-owned Gold Anchor Project in central Newfoundland (see Map 1 below).
Rocky Shore's President & CEO Ken Lapierre commented, "The drill has now moved proximal to our Mosquito Hill Gold Deposit with a goal of testing the outer limits of the mineralization and, at the same time, we are collecting, analyzing and interpreting all drill data from the recently completed 25 holes at our Lane Pond Gold Target. The identification of the Mosquito Target Horizon is defined as a distinct geological and prominent resistivity setting on trend to historical higher-grade gold intersections within the deposit. The Target Horizon extends well beyond the current gold deposit and remains open along strike, fundamentally changing how we intend to explore Mosquito Hill. We are excited to see this model tested as we begin our next phase of drilling."
Mosquito Hill Gold Deposit and Area Highlights (see Map 2 below)
Modern reinterpretation of historical geophysical data completed over the porphyry-hosted Mosquito Hill Gold Deposit.
Modern 3D resistivity inversions indicate that approximately 63% of the interpreted intrusive footprint lies outside the currently drilled deposit outline. Drilling will prioritize the newly identified Mosquito Target Horizon - a high-gradient resistivity transition zone along the eastern margin where historical higher-grade gold values are concentrated - as well as untested targets to the west and southwest.
The updated geological model establishes a new priority exploration target for the Company's upcoming drill program. The Mosquito Target Horizon may represent an important geological control on gold mineralization, potentially reflecting structural pathways that focused mineralizing fluids, zones of hydrothermal alteration, contacts within the intrusive system, or a combination of these geological processes.
The drill program has been designed to test these interpretations and determine the significance of this horizon within the broader Mosquito Hill mineral system.
Map 1: North half of the Gold Anchor Project highlighting Mosquito Hill and Reid Gold Deposits and proximity to the Lane Pond Gold Target (with Lucky 13 Gold Zone in red, see news release dated August 5, 2026) within the Appleton Fault Corridor.
Map 2: Mosquito Hill Gold Deposit and exploration potential shows a modern reinterpretation of historical resistivity data that outlines an interpreted porphyry footprint (black outline) that extends well beyond the gold deposit (transparent grey). Approximately 63% of the interpreted intrusive footprint lies outside the currently defined drilled deposit (plan-view estimate). Historical higher-grade drill intersections are spatially associated with the eastern resistivity transition area, establishing a priority target for exploration drilling.
Qualified Person
The scientific and technical information in this press release has been prepared and approved by Ken Lapierre, P.Geo., President and CEO of the Company, and a Qualified Person in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101. Mr. Lapierre consents to the publication of this press release dated August 12, 2026, by Rocky Shore Gold Ltd.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is a Canadian junior exploration company focused on its 100%-owned Gold Anchor Project in central Newfoundland. It is strategically located within one of Canada's most promising and underexplored gold belts. The project is the second-largest property (greater than 1,200 square kilometres) in this emerging gold district. Rocky Shore is targeting the expansion of its structurally controlled, orogenic-hosted, surface bulk-tonnage Mosquito Hill and Reid Gold Deposits, associated with the Dog Bay Line Fault. It also hosts orogenic, structurally controlled gold targets including the Lucky 13 Gold Zone along the highly prospective Appleton Fault Corridor located on trend and southwest of major gold discoveries and deposits.
Please visit our website at www.rockyshoregold.com.
Rocky Shore Gold would like to acknowledge the $150,000 in financial support received for 2025, and the approval of the 2026 Junior Exploration Assistance (JEA) administered by the Mineral Incentive Program from the Mineral Development Division, Department of Energy and Mines, Government of Newfoundland and Labrador.
For more information, please contact:
Ken Lapierre, President & CEO
Rocky Shore Gold Ltd.
T: +1 (647) 678-3879
E: [email protected]
Cathy Hume, CEO
CHF Capital Markets
T: +1 (416) 868-1079 x 251
E: [email protected]
X: @RockyShoreGold
LinkedIn: @RockyShoreGold
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to the results of exploration and the advancement of the Company's properties, the exploration potential, the price of gold, the geology and potential mineralization of the Gold Anchor project and the advancement of the Company's mineral properties. The forward-looking information is based on reasonable assumptions and estimates of the management of the Company at the time such statements were made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration; future commodity prices; changes in regulations; political or economic developments; environmental risks; permitting timelines; capital expenditures; technical difficulties in connection with exploration activities; employee relations; the speculative nature of mineral resource exploration including the risks of diminishing quantities of grades of mineral resources, contests over title to properties, the Company's limited operating history, future capital needs and uncertainty of additional financing, and the competitive nature of the mining industry; the need for the Company to manage its future strategic plans; global economic and financial market conditions; uninsurable risks; and changes in project parameters as plans continue to be evaluated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the forward-looking information contained in this news release is based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Assenagon Asset Management S.A. ve 2. čtvrtletí zvýšila podíl v PayPalu o 50,8 % na 163 691 akcií v hodnotě 7,068 milionu USD. PayPal zároveň oznámila čtvrtletní dividendu ve výši 0,14 USD na akcii.
Assenagon Asset Management S.A. grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 50.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,691 shares of the credit services provider’s stock after buying an additional 55,112 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PayPal were worth $7,068,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in PayPal during the 4th quarter valued at about $248,000. Sivia Capital Partners LLC boosted its position in PayPal by 41.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider’s stock valued at $332,000 after buying an additional 1,310 shares during the period. United Bank boosted its position in PayPal by 40.1% in the 2nd quarter. United Bank now owns 17,388 shares of the credit services provider’s stock valued at $1,292,000 after buying an additional 4,974 shares during the period. Finally, Federated Hermes Inc. grew its stake in PayPal by 17.9% in the 2nd quarter. Federated Hermes Inc. now owns 18,909 shares of the credit services provider’s stock worth $1,405,000 after acquiring an additional 2,865 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Performance Shares of PayPal stock opened at $59.00 on Wednesday. The company has a market capitalization of $50.47 billion, a PE ratio of 11.15, a P/E/G ratio of 1.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50-day simple moving average of $49.03 and a two-hundred day simple moving average of $47.13. PayPal Holdings, Inc. has a one year low of $38.46 and a one year high of $79.21.
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts expect that PayPal Holdings, Inc. will post 5.37 EPS for the current fiscal year.
PayPal Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal’s dividend payout ratio (DPR) is 10.59%.
Wall Street Analyst Weigh In A number of equities analysts have recently commented on PYPL shares. Mizuho raised their target price on shares of PayPal from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada boosted their price target on PayPal from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. TD Cowen increased their price objective on PayPal from $48.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. HSBC assumed coverage on PayPal in a report on Friday, July 24th. They set a “buy” rating on the stock. Finally, Citigroup lifted their target price on PayPal from $48.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.72.
Check Out Our Latest Analysis on PayPal
Trending Headlines about PayPal Here are the key news stories impacting PayPal this week:
Positive Sentiment: Strong quarterly results support the recovery story. PayPal reported second-quarter 2026 sales of approximately $8.68 billion and net income of $1.10 billion. Its prior earnings release showed adjusted EPS of $1.38, above the $1.28 consensus estimate, while revenue also exceeded expectations and increased 4.8% year over year. Is PayPal Holdings Undervalued After Earnings and Its Recent Share Price Jump? Positive Sentiment: Analyst upgrades and valuation appeal are attracting buyers. PayPal was among the most-upgraded stocks in July, with the upgrades attributed to its earnings performance and a reported buyout offer. The stock’s relatively low valuation—approximately 11 times earnings based on the supplied data—may also be encouraging investors after its recent gains. These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI Positive Sentiment: PayPal expanded its credit-card financing reach. A partnership with Synchrony now makes six-month promotional financing available to eligible PayPal Credit Card holders for purchases of at least $149 across the Mastercard network, both online and in stores. Broader usage could support transaction volume and customer engagement, although it also carries credit and execution risks. Synchrony and PayPal Bring Special Financing to the Entire Mastercard Network Neutral Sentiment: M&A speculation remains an important but unconfirmed catalyst. Jim Cramer cited market reaction to a reported private-fintech buyout proposal and highlighted perceived operational improvements under CEO Enrique Lores. No completed transaction or definitive offer was reported, leaving the potential catalyst—and its premium—uncertain. Jim Cramer Examines PayPal Holdings Performance and M&A Speculation Neutral Sentiment: Short-interest data is not usable. The reported August figure of zero shares and a “NaN” percentage change conflicts with the description of a large increase, so it provides no reliable signal about short-covering or bearish positioning. Insiders Place Their Bets In other news, insider Suzan Kereere sold 3,379 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the sale, the insider owned 30,983 shares in the company, valued at approximately $1,325,762.57. This represents a 9.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $77,679.70. Following the completion of the sale, the chief accounting officer directly owned 2,216 shares of the company’s stock, valued at $128,749.60. The trade was a 37.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,612 shares of company stock valued at $484,534. 0.63% of the stock is currently owned by insiders.
About PayPal (Free Report)
PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.
Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.
Featured Stories Five stocks we like better than PayPal Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for PayPal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEAssenagon Asset Management S.A. Has $7.12 Million Stock Holdings in Alliant Energy Corporation $LNT
NEXT HEADLINE »676,077 Shares in Graphic Packaging Holding Company $GPK Acquired by Assenagon Asset Management S.A.
CoreCap Advisors LLC lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 72.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,429 shares of the credit services provider’s stock after selling 11,442 shares during the quarter. CoreCap Advisors LLC’s holdings in PayPal were worth $191,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in PayPal during the fourth quarter worth about $949,758,000. Bank of America Corp DE boosted its stake in shares of PayPal by 67.9% during the 1st quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock worth $1,158,554,000 after acquiring an additional 10,356,256 shares in the last quarter. Amundi grew its holdings in shares of PayPal by 227.6% in the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after acquiring an additional 9,590,488 shares during the period. Vanguard Group Inc. grew its holdings in shares of PayPal by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after acquiring an additional 5,534,462 shares during the period. Finally, SG Americas Securities LLC increased its stake in PayPal by 355.1% in the 1st quarter. SG Americas Securities LLC now owns 4,967,170 shares of the credit services provider’s stock valued at $224,665,000 after purchasing an additional 3,875,688 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
More PayPal News Here are the key news stories impacting PayPal this week:
Positive Sentiment: Strong quarterly results support the recovery story. PayPal reported second-quarter 2026 sales of approximately $8.68 billion and net income of $1.10 billion. Its prior earnings release showed adjusted EPS of $1.38, above the $1.28 consensus estimate, while revenue also exceeded expectations and increased 4.8% year over year. Is PayPal Holdings Undervalued After Earnings and Its Recent Share Price Jump? Positive Sentiment: Analyst upgrades and valuation appeal are attracting buyers. PayPal was among the most-upgraded stocks in July, with the upgrades attributed to its earnings performance and a reported buyout offer. The stock’s relatively low valuation—approximately 11 times earnings based on the supplied data—may also be encouraging investors after its recent gains. These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI Positive Sentiment: PayPal expanded its credit-card financing reach. A partnership with Synchrony now makes six-month promotional financing available to eligible PayPal Credit Card holders for purchases of at least $149 across the Mastercard network, both online and in stores. Broader usage could support transaction volume and customer engagement, although it also carries credit and execution risks. Synchrony and PayPal Bring Special Financing to the Entire Mastercard Network Neutral Sentiment: M&A speculation remains an important but unconfirmed catalyst. Jim Cramer cited market reaction to a reported private-fintech buyout proposal and highlighted perceived operational improvements under CEO Enrique Lores. No completed transaction or definitive offer was reported, leaving the potential catalyst—and its premium—uncertain. Jim Cramer Examines PayPal Holdings Performance and M&A Speculation Neutral Sentiment: Short-interest data is not usable. The reported August figure of zero shares and a “NaN” percentage change conflicts with the description of a large increase, so it provides no reliable signal about short-covering or bearish positioning. Analysts Set New Price Targets A number of analysts have commented on the company. Clear Str upgraded PayPal to a “hold” rating in a research report on Thursday, July 16th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Wednesday, July 15th. BNP Paribas Exane boosted their price objective on shares of PayPal from $43.50 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Piper Sandler lowered their price objective on shares of PayPal from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Finally, BMO Capital Markets started coverage on shares of PayPal in a report on Tuesday, April 21st. They set a “market perform” rating and a $52.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.72.
View Our Latest Analysis on PYPL
Insider Transactions at PayPal In other news, insider Frank Keller sold 732 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $42,529.20. Following the completion of the sale, the insider owned 41,567 shares in the company, valued at approximately $2,415,042.70. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total value of $144,587.41. Following the sale, the insider owned 30,983 shares in the company, valued at approximately $1,325,762.57. The trade was a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,612 shares of company stock valued at $484,534 over the last quarter. Company insiders own 0.63% of the company’s stock.
PayPal Price Performance PayPal stock opened at $59.00 on Wednesday. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.21. The firm has a fifty day moving average of $49.03 and a 200-day moving average of $47.13. The firm has a market capitalization of $50.47 billion, a P/E ratio of 11.15, a PEG ratio of 1.44 and a beta of 1.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.
PayPal (NASDAQ:PYPL – Get Free Report) last posted its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the business posted $1.40 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts predict that PayPal Holdings, Inc. will post 5.37 EPS for the current year.
PayPal Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. PayPal’s dividend payout ratio is presently 10.59%.
About PayPal (Free Report)
PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.
Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.
See Also Five stocks we like better than PayPal Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report).
Receive News & Ratings for PayPal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal and related companies with MarketBeat.com's FREE daily email newsletter.
Bay Colony Advisory Group Inc d b a Bay Colony Advisors ve 2. čtvrtletí snížila podíl v UnitedHealth Group o 64,9 % na 1 646 akcií poté, co během období prodala 3 037 akcií. Generální ředitel Patrick Hugh Conway mezitím prodal 500 akcií za 410 USD za kus, celkem za 205 000 USD.
Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 64.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,646 shares of the healthcare conglomerate’s stock after selling 3,037 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in UnitedHealth Group were worth $684,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in UNH. Vanguard Group Inc. grew its position in shares of UnitedHealth Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 91,600,260 shares of the healthcare conglomerate’s stock valued at $30,238,162,000 after purchasing an additional 995,210 shares during the period. State Street Corp increased its stake in shares of UnitedHealth Group by 2.5% in the 4th quarter. State Street Corp now owns 45,232,170 shares of the healthcare conglomerate’s stock worth $14,931,592,000 after acquiring an additional 1,119,834 shares during the last quarter. Capital World Investors raised its stake in UnitedHealth Group by 3.8% during the fourth quarter. Capital World Investors now owns 22,591,042 shares of the healthcare conglomerate’s stock worth $7,457,723,000 after purchasing an additional 824,120 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in UnitedHealth Group by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,829,054 shares of the healthcare conglomerate’s stock valued at $6,215,660,000 after acquiring an additional 680,077 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of UnitedHealth Group by 6.6% in the 4th quarter. Capital International Investors now owns 18,655,111 shares of the healthcare conglomerate’s stock valued at $6,158,734,000 after purchasing an additional 1,155,162 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades UNH has been the topic of several recent analyst reports. HC Wainwright set a $492.00 price objective on shares of UnitedHealth Group in a report on Wednesday, May 27th. Zacks Research upgraded UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. DA Davidson set a $512.00 target price on UnitedHealth Group in a report on Tuesday, July 21st. Robert W. Baird upgraded shares of UnitedHealth Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $287.00 to $453.00 in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada upped their target price on shares of UnitedHealth Group from $463.00 to $478.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $455.92.
Get Our Latest Stock Analysis on UnitedHealth Group
Insider Buying and Selling at UnitedHealth Group In other news, CEO Patrick Hugh Conway sold 500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $410.00, for a total transaction of $205,000.00. Following the transaction, the chief executive officer directly owned 16,497 shares in the company, valued at $6,763,770. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.
UnitedHealth Group Trading Down 1.8% NYSE:UNH opened at $401.56 on Wednesday. The company has a market capitalization of $364.67 billion, a PE ratio of 25.84, a P/E/G ratio of 1.42 and a beta of 0.62. The stock’s 50 day moving average price is $415.13 and its 200 day moving average price is $351.84. The company has a quick ratio of 0.80, a current ratio of 0.78 and a debt-to-equity ratio of 0.66. UnitedHealth Group Incorporated has a 52-week low of $253.67 and a 52-week high of $461.62.
UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The healthcare conglomerate reported $6.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $1.44. UnitedHealth Group had a net margin of 3.14% and a return on equity of 16.53%. The company had revenue of $112.03 billion for the quarter, compared to the consensus estimate of $110.81 billion. During the same period last year, the firm posted $4.08 EPS. UnitedHealth Group’s revenue for the quarter was up .4% on a year-over-year basis. UnitedHealth Group has set its FY 2026 guidance at 19.500-20.000 EPS. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 19.69 EPS for the current year.
UnitedHealth Group Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a $2.32 dividend. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.21. The ex-dividend date was Monday, June 15th. This represents a $9.28 dividend on an annualized basis and a yield of 2.3%. UnitedHealth Group’s payout ratio is 59.72%.
UnitedHealth Group Profile (Free Report)
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
See Also Five stocks we like better than UnitedHealth Group Atlassian Just Pulled Off the Software Comeback Wall Street Wanted AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.
BD dokončila nábor do studie PREVENT, první velké randomizované studie Phasix™ Mesh pro prevenci incizní kýly po břišní operaci. Do výzkumu bylo zařazeno 477 pacientů na 32 místech v USA a Evropě.
Enrollment completed in the first large-scale randomized study evaluating Phasix™ Mesh for incisional hernia prevention, a significant unmet need following abdominal surgery
, /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced a significant milestone in its advanced tissue regeneration strategy and expansion efforts with successful completion of enrollment in the PREVENT clinical trial evaluating Phasix™ Mesh for the prevention of incisional hernias.
Phasix Flat Mesh The study enrolled 477 patients across 32 sites in the United States and Europe, making it the first large, randomized study evaluating prophylactic reinforcement for incisional hernia prevention using a resorbable mesh, a common complication following abdominal surgery for which no products are currently approved.
"PREVENT reflects our commitment to extending the impact of advanced tissue regeneration into new areas of patient care," said Rian Seger, worldwide president of Surgery at BD. "By evaluating Phasix™ Mesh in hernia prevention, we are building on decades of innovation in abdominal wall surgery and generating evidence that could help broaden the role of regenerative technologies for patients at risk of post-surgical complications. We are grateful to the investigators, clinical sites and patients whose participation made this achievement possible."
The PREVENT trial aims to generate robust clinical evidence evaluating Phasix™ Mesh for the prevention of incisional hernia following elective open midline abdominal surgery in patients at high risk of developing a hernia.
Patients will continue to be followed through the study's primary endpoint at 24 months, with longer-term follow-up planned through five years to further evaluate safety and clinical outcomes. Following completion of the primary endpoint assessments, data from the study are expected to support a planned submission to the U.S. Food and Drug Administration as part of the regulatory pathway for this indication.
About BD
BD is one of the world's largest pure-play medical technology companies with a Purpose of advancing the world of health™ by driving innovation across medical essentials, connected care, biopharma systems and interventional. The company supports those on the frontlines of healthcare by developing transformative technologies, services and solutions that optimize clinical operations and improve care for patients. Operating across the globe, with more than 60,000 employees, BD delivers billions of products annually that have a positive impact on global healthcare. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase clinical efficiency, improve safety and expand access to healthcare. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X @BDandCo or Instagram @becton_dickinson.
Eli Lilly podala šest nových žalob proti americkým subjektům prodávajícím nelegální retatrutid a vyzvala platformy, platební firmy i regulátory k zásahu. Firma tvrdí, že lék není nikde na světě schválen pro lidské použití.
Files six new lawsuits as company escalates fight to protect patients
, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today escalated its continued fight to protect patients from the dangerous black market for retatrutide, filing six new lawsuits against U.S. entities selling black-market products in addition to having referred hundreds of bad actors to regulators and law enforcement worldwide. Lilly is also calling on the entities that sellers use to conduct their illegal business—social media and e-commerce platforms, credit card companies, payment processors and shipping and logistics carriers—to help protect patients and fight this illicit activity. According to the U.S. Food and Drug Administration (FDA), unapproved drugs sold for human use may pose significant risks for patients and are illegal.
"Retatrutide is being rigorously studied as part of a comprehensive clinical trial development program," said David A. Hyman, M.D., Lilly's chief medical officer. "We take the responsibility of evaluating the safety and efficacy of our investigational medicines seriously. What is being sold on the black market is not a medicine – it is entirely unverified, unapproved and not worth the risk."
Retatrutide is an investigational molecule in Phase 3 clinical trials for obesity, type 2 diabetes and other related indications. No medicine containing retatrutide has yet been approved for human use by any regulatory agency in the world. It cannot be sold to consumers.
FDA has made clear that sales of unapproved retatrutide to consumers are illegal, that retatrutide cannot be lawfully compounded, and that so-called "research-use only" products "are of unknown quality and may be harmful to [consumers'] health." Yet black-market sellers and businesses posing as legitimate medical providers openly sell retatrutide as a weight-loss "hack." These "medical spas," "wellness clinics" and self-styled suppliers are not practicing medicine; they are selling illegal drugs, frequently made by unregulated foreign manufacturers. Regulators, customs agencies and law enforcement worldwide have warned of the same dangers and acted on them, raiding clandestine manufacturing sites, seizing shipments and arresting those involved.
Lilly's lawsuits target U.S. entities selling illegal retatrutide products, including compounding pharmacies, medical spas, and online sellers that falsely claim their drugs are for "research-use only" when they are actually intended for human use. Lilly has also referred more than 200 individuals and entities to FDA, the U.S. Department of Justice, state attorneys general, law enforcement, and professional licensing boards, and is working with global regulators, law enforcement, and customs authorities to stop this illegal market. The company has reported more than 14,000 websites, advertisements, social media posts and product listings that unlawfully market retatrutide in over 100 countries to internet service providers, social media platforms, and e-commerce companies, but some continue to amplify misleading content to vulnerable consumers.
Now, Lilly is calling on others to join the fight for patient safety:
Drug regulators, customs agencies, law enforcement and other government authorities must treat the sale of unapproved retatrutide as the urgent public health crisis it is, prioritizing enforcement and coordinating across borders to dismantle the criminal networks selling these drugs. Social media and e-commerce platforms must stop enabling—and in some cases fueling—this illegal market and must take proactive steps to block this conduct before it reaches consumers. Credit card companies, payment processors, shipping and logistics companies, and other entities that sellers use to conduct their illegal businesses must cut off the infrastructure enabling this illegal trade. Healthcare providers should raise awareness of the potentially serious risks involved. Everyone can help by reporting illegal retatrutide products to law enforcement, drug and pharmacy regulators, and the Lilly Answers Center at 1-800-LillyRx. Lilly's lawsuits include:
Eli Lilly & Co. v. Aesthetic Envy Cosmetic Centers LLC, d/b/a Aesthetic Envy (N.D. Cal.) Eli Lilly & Co. v. Astra LLC, d/b/a Astra Peptides (W.D. Tex.) Eli Lilly & Co. v. Legendary Peptides, LLC (E.D. Tex.) Eli Lilly & Co. v. Striker Pharmacy, LLC (S.D. Tex.) Eli Lilly & Co. v. Texas Peptides Inc. (W.D. Tex.) Eli Lilly & Co. v. Lone Star Peptide Co. (S.D. Tex.) About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. C-LLY
Tržní kapitalizace tokenizovaných akcií na Arbitrum vzrostla o 476 % na 173 milionů USD. ARB přesto zůstává pod prodejním tlakem a po dvouletém poklesu naznačuje dno kolem 0,07 USD.
Arbitrum [ARB] has been in a strong downtrend for two years, despite the chain’s performance. However, the altcoin appears to be forming a bottom at $0.07 as tokenization on the chain gains pace.
Notably, the market cap of tokenized stocks on Arbitrum by issuer grew to $173 million, a 476% increase. Reality accounted for $135 million, while Robinhood, Dinari, and xStocks were capped at $24 million, $13.9 million, and $3.8K, respectively.
Source: Token Terminal Over the past ninety days, the market cap of the top 10 tokenized stocks surpassed the $100 million mark. They included Micron, Nvidia, SanDisk, SpaceX, Strategy (formerly MicroStrategy), Tesla, and Intel, among others.
Moreover, the Arbitrum Platform has the highest RWA count at 3,208, making it the first chain to surpass 3,000, according to rwa.xyz. It is followed by Solana [SOL], Ethereum [ETH], Avalanche [AVAX], and BNB Chain, respectively.
Despite the momentum in tokenization, bearish sentiments did not lurk.
In addition to the daily token unlock of 479.06K ARB, a larger unlock is approaching. On the 16th of August, Abritrum will unlock 93.19 million ARB tokens worth $7.41 million. This adds selling pressure to the existing strong downtrend.
Source: CoinMarketCap Such consistent selling pressure from token unlocks partially explains why ARB’s price is weak.
ARB’s market structure after a 2-year downtrend The market structure has been bearish for the past two years, but things could be about to change. The 4-hour chart shows a structure that is in transition at around the $0.07 zone.
ARB’s price is making higher lows alongside the RSI Divergence which was at 50.99 as of writing, a typical institutional accumulation pattern. As big players build positions, the bigger crowd is fading.
This is evident as the Aggregate Crypto Open Interest dropped from $64.5 million to $46.63 million, indicating that the broader market was losing interest in the token.
Source: ARB/USDT on TradingView Therefore, the price of Arbitrum remains in a downtrend due to the existing market structure and tokenomics.
But the growth in tokenization may help speed up the formation of a bottom between the $0.07 and $0.09 zones. However, if the slanting trendline breaks down, it could indicate the continuation of the downtrend.
Final Summary The market cap of tokenized stocks on Arbitrum One has grown by 476%, but the token remains under intense selling pressure. ARB price has been declining for the past two years but has hinted at bottoming at the $0.07 zone.
Kostas Chalkias, spoluzakladatel a chief cryptographer společnosti Mysten Labs, vyvíjí pro Sui levné kvantově bezpečné karty pro dvoufaktorové ověření s cílem dostat se pod 10 USD za kus. Reaguje tak na nedávný exploit hardwarových peněženek Coldcard.
Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, has revealed he is building affordable quantum-safe two-factor authentication cards for the Sui blockchain. The project puts a fresh spotlight on hardware wallet security at a moment when the sector is dealing with one of its worst-ever exploits.
Sub-$10 Cards, NFC Signatures and a Dedicated Factory Chalkias has set a target of under $10 per quantum card key and one to two seconds per NFC quantum signature. To reach that at scale, he quietly leased a factory to mass-produce quantum-resistant hardware wallet cards for Sui. The work has been carried out on personal time outside his day job, and Chalkias has said he may go as far as sponsoring cards for users who cannot afford them.
The push fits a broader pattern of quantum preparedness at Mysten Labs. Sui can adopt new authentication methods, including post-quantum cryptography, at the flip of a switch, and Chalkias has said the network was "designed to be quantum-ready from day one." Existing Sui accounts would be able to rotate into a quantum-safe key derived from their existing recovery phrase rather than requiring a full migration to a new wallet. Chalkias holds a PhD in identity-based cryptography and plays a key role in the development of the Sui blockchain and the Walrus decentralised storage layer.
Coldcard Exploit Sharpens the Focus on Wallet Security Chalkias has cited recent hardware wallet failures as part of his motivation, and the timing is pointed. Beginning July 30, 2026, an attacker exploited a five-year-old firmware flaw in Coinkite's Coldcard hardware wallet to systematically drain bitcoin from affected devices, with the root cause traced to a March 2021 firmware release that caused seed generation to fall back on a weak software random number generator rather than the device's hardware-based source of entropy.
Galaxy Research confirmed 1,596 $BTC stolen across three attack waves, with a suspected fourth wave that could bring the total to approximately 2,055 BTC, worth close to $130 million. At least four waves of theft followed, draining funds from more than 5,200 addresses. The root cause was weak random-number generation dating to a March 2021 firmware build, not a flaw in the Bitcoin protocol itself.
Coinkite shipped emergency firmware for every affected model on July 31, but installing it does not repair an existing seed. Anyone who generated a seed on a Coldcard between March 2021 and the patch should treat it as compromised and migrate to a new seed. The incident has reinforced the case for rethinking how cryptographic keys are generated and secured at the hardware level, the precise problem Chalkias says he is working to address.
Sources:
Bitcoin.com News: Sui Co-Founder Is Building Quantum-Safe Hardware Wallets For $10
TRM Labs: The Largest Hardware Wallet Exploit of 2026, Inside the $116 Million Coldcard Hack
The Hacker News: Coldcard Hardware Wallet Flaw Linked to $70 Million Bitcoin Theft in 41 Minutes
Hashi Testnet od Sui za tři týdny zaznamenal přes 1,1 milionu depozitů a 165 000 výběrů. Více než 50 % transakcí v Bitcoin Signet za poslední dva týdny pocházelo z testování Hashi.
Hashi Testnet Posts Strong Early NumbersSui Network's Hashi Testnet has logged more than 1.1 million deposits and 165,000 withdrawals in just three weeks since going live, pointing to strong early demand for the protocol ahead of a planned mainnet launch.
The pace of activity has had a measurable knock-on effect on Bitcoin Signet, the public test network used by developers to experiment with Bitcoin transactions without touching the main chain. According to Sui, over 50% of the transactions made in Bitcoin Signet over the past two weeks were generated by Hashi testing. That wave of traffic has pushed Signet activity to roughly five times its pre-launch baseline.
To keep up with the volume of withdrawal requests, Sui Core introduced Overdrive Mode, a feature designed to manage heavy withdrawal traffic and maintain efficient processing under load.
What Hashi Is and Why It MattersThe Sui Foundation and Mysten Labs launched the Hashi testnet on July 22. Hashi lets bitcoin serve as collateral for onchain loans while keeping $BTC on the Bitcoin network rather than re-minting or moving it to another chain.
Deposits are secured with a 2-of-2 multisig that requires signatures from the protocol's multi-party computation validators and a separate Guardian Layer, a configurable risk-management system designed to slow or block suspicious withdrawals.
More than 25 institutional partners are testing lending and credit applications on the testnet. Participants include custody provider BitGo, trading firms Cumberland and FalconX, hardware wallet maker Ledger, infrastructure provider Blockdaemon, exchange Bullish, and Sui-native lending platforms Navi and Scallop.
Sui Network says Hashi is now progressing toward mainnet, with the protocol's broader goal being to unlock $BTC's large pool of idle capital for productive use inside decentralised finance. While Bitcoin's market cap exceeds $1 trillion, roughly just 0.22% of it is currently deployed in DeFi.
Sources:
Sui Blog: Hashi Testnet Is Live
TechTimes: Bitcoin Collateral Reaches DeFi Without Wrapping
Crypto Times: Sui Launches Hashi Testnet for Bitcoin-Backed Finance
Hawkeye and DiTing helped prevent RMB165M (approximately US$23M) in fraud losses in 2025, reinforcing Yiren Digital's credit-risk discipline
, /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced that its AI-powered fraud detection systems intercepted 10,300 fraudulent borrowers across 14,500 cases in 2025, helping avoid RMB165 million (US$23 million) in fraud-related losses and demonstrating how enterprise AI can strengthen credit-risk management through AI-led fraud detection and intelligent decision-making.
As part of its broader "All-in-AI" strategy, Yiren Digital has established a proactive AI risk management framework spanning pre-loan, in-loan and post-loan processes. The framework combines the Company's Hawkeye fraud detection system, the DiTing intelligent decision-making platform, risk models, data analysis and specialist review to identify suspicious activity, improve underwriting quality and support timely intervention.
"Risk management is one of the clearest examples of how AI can create measurable value across highly regulated financial services," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "Our third-generation AI fraud detection technology represents a significant advancement in financial risk management, enabling more adaptive and precise detection while continuously responding to emerging fraud patterns. Built on years of innovation, this advanced platform is now available as an exportable service, enabling financial institutions and fintech companies to deploy enterprise-grade fraud protection without massive infrastructure investment."
Yiren Digital uses a monitoring-analysis-response-review process to track asset quality, compliance dynamics and other risk indicators, trigger warnings when specified thresholds are reached, and coordinate responses across risk control, legal and other functions, supporting more proactive portfolio risk management.
Its proprietary DiTing system applies AI models to analyze multidimensional information, including credit reports, user behavior and other authorized data, supporting fraud identification, refined credit-risk assessment and more consistent credit decisions. Hawkeye uses accumulated fraud cases and structured feedback to update screening rules and strengthen future detection.
Yiren Digital's AI Fraud Protection at Scale
Fraud losses avoided: In 2025, the Company intercepted 10,300 fraudulent borrowers across 14,500 cases, helping avoid RMB165 million (US$23 million) in losses. Cumulative fraud intelligence: As of the end of 2025, the Company's proprietary blacklist database contained approximately 800 million records. Hawkeye and DiTing had cumulatively identified more than 500,000 suspected fraudulent borrowers and 41,993 malicious actors associated with black-market operations. High-volume screening: DiTing supports AI-driven risk decisions with daily capacity to screen approximately 30,000 potentially risky credentials. Related document and identity-verification tools identify approximately 1,500 counterfeit documents and more than 1,000 video-fraud cases each day. Human oversight and governance: Hawkeye analyzes fraud-risk events using historical cases, risk-assessment results and algorithmic rules, and generates virtual work orders for fraud detection specialists. Automated identification is combined with human review to support consistent, reviewable decisions in higher-risk cases. The Company's fraud detection capabilities are built on its proprietary enterprise AI architecture, including the MagiCube 2.0 multi-agent platform, which provides common infrastructure for enterprise AI deployment across risk management and other core business functions, allowing proven AI capabilities to be deployed more efficiently across the organization.
These production AI deployments illustrate how Yiren Digital is applying enterprise AI beyond workflow automation to strengthen credit-risk management, improve fraud detection, enhance credit decision-making and help reduce potential fraud-related losses across regulated financial services.
Going forward, Yiren Digital will continue strengthening AI-enabled credit-risk management and governance across its credit and insurance operations, while enhancing model monitoring, explainability and human oversight across regulated business lines to support long-term asset quality, operational resilience and responsible AI deployment.
About Yiren Digital
Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident," and similar expressions. Forward-looking statements are based on management's current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.
Amcor ve 4. čtvrtletí zvýšila tržby o 26 % na 6,4 mld. USD a čistý zisk na 389 mil. USD. Za celý rok tržby vzrostly o 57 % na 23,5 mld. USD a firma čeká upravený EPS 1,80 až 1,90 USD.
Net sales $6.4 billion, up 26% largely driven by Berry acquisition and pass through of higher raw material costs Net income $389 million vs. -$39 million prior-year Adjusted EBITDA $1,045 million vs. $789 million prior-year, up 32% Diluted EPS of $0.83 vs. $-0.10 prior-year Adjusted Diluted EPS of $1.23 vs $1.00 prior-year, up 23% Highlights - Fiscal Year Ended June 30, 2026
Net sales $23.5 billion, up 57% largely driven by the Berry acquisition Net income $1,106 million vs. $511 million prior-year Adjusted EBITDA $3,673 million vs. $2,186 million prior-year, up 68% Diluted EPS of $2.38 vs. $1.60 prior-year Adjusted Diluted EPS $4.02 vs. $3.56 prior-year, up 13% Outlook - Six Months Ended December 31, 2026 ('Transition Period')
Adjusted Diluted EPS of $1.80 to $1.90 Amcor CEO Peter Konieczny said, "We delivered strong operating performance in the fourth quarter despite a challenging macro environment. We drove broad-based volume growth, while effectively managing unprecedented input cost inflation. Synergy realization came in ahead of plan, while performance in our non-core businesses improved substantially.
Looking ahead, we are encouraged by the momentum we see across the business and the greater potential for growth and continued synergy capture following the transformative acquisition of Berry. As we complete the integration and begin to realize our potential as a global leader in consumer packaging, we remain confident in delivering on our medium and long-term commitments."
Key Financials(1)(2)(3)
Three Months Ended June 30,
Twelve Months Ended June 30,
GAAP results
2025 $ million
2026 $ million
2025 $ million
2026 $ million
Net sales
5,082
6,398
15,009
23,506
Net income
(39)
389
511
1,106
EPS (diluted, $)
(0.10)
0.83
1.60
2.38
Three Months Ended June 30,
Reported ∆%
Twelve Months Ended June 30,
Reported ∆%
Adjusted non-GAAP results
2025 $ million
2026 $ million
2025 $ million
2026 $ million
Net sales
5,082
6,398
26
15,009
23,506
57
EBITDA
789
1,045
32
2,186
3,673
68
EBIT
611
836
37
1,723
2,813
63
Net income
408
570
40
1,136
1,863
64
EPS ($)
1.00
1.23
23
3.56
4.02
13
Free Cash Flow
943
1,396
48
926
1,303
41
All amounts referenced throughout this document are in US dollars unless otherwise indicated and numbers may not add up to the totals provided due to
rounding.
(1) Adjusted non-GAAP results exclude items not considered representative of ongoing operations. Further details on non-GAAP measures and
reconciliations to GAAP measures can be found under "Presentation of non-GAAP information".
(2) All prior year results reflect the Amcor plc group, considered the accounting acquirer in the April 30, 2025 combination between Amcor plc and Berry
Global.
(3) All periods presented in this release have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. Further
details can be found under 'Reverse Stock Split'.
Financial results
Three months ended June 30, 2026
Net sales of $6,398 million were 26% higher than last year on a reported basis, including approximately $962 million of acquired sales net of divestitures, which represents growth of approximately 19%. The pass through of movements in raw material costs had a favorable impact of approximately $280 million, which represents growth of approximately 6%, movements in foreign exchange rates had a favorable impact of approximately 2% and the remaining (1%) year-over-year variation reflects the net impact of volumes and price/mix.
The Company estimates that volumes were approximately 0.5% higher than estimated combined volumes for the legacy Amcor and legacy Berry businesses in the June quarter last year, excluding non-core and divested businesses. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales, excluding non-core and divested businesses.
Adjusted EBIT of $836 million was 37% higher than last year on a reported basis, including approximately $96 million of acquired EBIT net of divestitures, which represents growth of approximately 15%. Movements in foreign exchange rates had a favorable impact of approximately 3% and the remaining 19% year-over-year variation mainly reflects synergy benefits from the Berry acquisition of approximately $100 million and strong execution against initiatives to drive cost and productivity benefits, including in the non-core businesses.
GAAP net interest expense was $150 million and GAAP income tax expense was $97 million. Inclusive of acquisition- related financial benefits of approximately $15 million, adjusted net interest expense was $150 million and adjusted tax expense was $116 million representing an effective tax rate of 16.8%. Adjusted net interest expense was $36 million higher than the prior year primarily as a result of increased acquisition related net debt.
Twelve months ended June 30, 2026
Net sales of $23,506 million were 57% higher than last year on a reported basis, including approximately $7.9 billion of acquired sales net of divestitures, which represents growth of approximately 52%. The pass through of movements in raw material costs had a favorable impact of approximately $240 million, which represents growth of approximately 2%, movements in foreign exchange rates had a favorable impact of approximately 5% and the remaining (2%) year-over-year variation reflects the net impact of volumes and price/mix.
Adjusted EBIT of $2,813 million was 63% higher than last year on a reported basis, including approximately $842 million of acquired EBIT net of divestitures, which represents growth of approximately 49%. Movements in foreign exchange rates had a favorable impact of approximately 4% and the remaining 10% year-over-year variation mainly reflects synergy benefits from the Berry acquisition of approximately $240 million, partly offset by lower volumes.
GAAP net interest expense was $610 million and GAAP income tax expense was $181 million. Inclusive of acquisition-related financial benefits of approximately $45 million, adjusted net interest expense was $581 million and adjusted tax expense was $368 million representing an effective tax rate of 16.5%.
Free cash flow was $1,303 million after funding approximately $290 million of net transaction, restructuring and integration costs. Net debt was $12,897 million at June 30, 2026.
Dividend
The Board declared a quarterly cash dividend of 65.0 cents per share today, compared with 63.75 cents per share, declared as 12.75 cents per share before adjusting for the 1-for-5 reverse stock split effected on January 14, 2026. The dividend will be paid in US dollars to holders of Amcor's ordinary shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an unfranked dividend of 92.0 Australian cents per share, which reflects the quarterly dividend of 65.0 cents per share converted at an AUD:USD average exchange rate of 0.7043 over the five trading days ended August 10, 2026.
The ex-dividend date will be September 3, 2026 for holders of CDIs trading on the ASX and September 4, 2026 for holders of shares trading on the NYSE. For all shareholders, the record date will be September 4, 2026 and the payment date will be September 24, 2026.
Outlook
Amcor will have a six-month reporting period from July 1, 2026, through December 31, 2026 ('Transition Period'), as part of transitioning from a previously announced June 30 to December 31 year-end.
For the transition period, the Company expects Adjusted EPS of approximately $1.80 to $1.90, and leverage on December 31, 2026 of 3.5x - 3.6x.[1]
Outlook does not take into account the impact of potential portfolio optimization actions not announced to date. Outlook contemplates a range of factors, including ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results and actual results could vary materially. Reconciliations of projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for the periods referenced have not been completed. Refer to page 14 for further information.
[1] Leverage calculated as Net Debt divided by LTM Adjusted EBITDA plus share-based compensation.
Conference Call
Amcor is hosting a conference call with investors and analysts to discuss these results on Wednesday August 12, 2026 at 8:00am US Eastern Daylight Time / 10:00pm Australian Eastern Standard Time. Investors are invited to listen to a live webcast of the conference call at our website, www.amcor.com, in the "Investors" section.
Those wishing to access the call should use the following toll-free numbers, with the Conference ID : 980769865
USA: 833 461 5787 (toll free) Australia: 1800 849 752 (toll free) United Kingdom: 0808 196 8935 (toll free) Singapore: 1800 408 1721 (toll free) Hong Kong: 800 938 481 (toll free) From all other countries, the call can be accessed by dialing +1 585 542 9983 (toll).
A replay of the webcast will also be available in the "Investors" section at www.amcor.com following the call.
About Amcor
Amcor is the global leader in developing and producing responsible consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enable us to solve packaging challenges around the world every day, producing a range of flexible packaging, rigid packaging, cartons and closures that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future. Supported by a commitment to safety, 75,000 people generate $23 billion in annual sales from operations that span approximately 400 locations in more than 40 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I YouTube
Amcor plc UK Establishment Address: 83 Tower Road North, Warmley, Bristol, England, BS30 8XP, United Kingdom
UK Overseas Company Number: BR020803
Registered Office: 3rd Floor, 44 Esplanade, St Helier, JE4 9WG, Jersey
Jersey Registered Company Number: 126984, Australian Registered Body Number (ARBN): 630 385 278
Segment information
Global Flexible Packaging Solutions segment - June 2026 quarter
Three Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
2,994
3,525
18
16
Adjusted EBIT
435
533
23
20
Adjusted EBIT / Sales %
14.5
15.1
Net sales of $3,525 million were 16% higher than last year on a constant currency basis including approximately $297 million of acquired sales net of divestitures, which represents growth of approximately 10%. The pass through of movements in raw material costs had a favorable impact of approximately $190 million, or 6% on net sales.
The Company estimates that volumes for the Global Flexible Packaging Solutions segment were approximately 1% higher compared to volumes for the combined legacy Amcor and Berry businesses in the June quarter last year. Market category highlights included higher volumes in pet food and protein, partly offset by lower volumes in healthcare. By region, volumes in developed markets were higher than the prior year led by North America. Emerging markets continued to see volume growth compared with the prior year, led by Asia. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales.
Adjusted EBIT of $533 million was 20% higher than last year on a constant currency basis, reflecting approximately $31 million of acquired EBIT, net of divestitures which represents growth of approximately 7%. The remaining 13% year-over-year growth mainly reflects synergy realization from the Berry acquisition, favorable cost performance and productivity benefits.
Global Flexible Packaging Solutions segment - FY 2026
Twelve Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
10,066
12,829
27
24
Adjusted EBIT
1,398
1,789
28
26
Adjusted EBIT / Sales %
13.9
13.9
Net sales of $12,829 million were 24% higher than last year on a constant currency basis including approximately $2.2 billion of acquired sales net of divestitures, which represents growth of approximately 22%. The pass through of movements in raw material costs had a favorable impact of approximately $240 million, or 2% on net sales.
Adjusted EBIT of $1,789 million was 26% higher than last year on a constant currency basis, reflecting approximately $250 million of acquired EBIT, net of divestitures which represents growth of approximately 18%. The remaining 8% year-over-year growth mainly reflects synergy benefits from the Berry acquisition, favorable cost performance and productivity benefits.
Global Rigid Packaging Solutions segment - June 2026 quarter
Three Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
2,088
2,873
38
35
Adjusted EBIT
219
352
61
57
Adjusted EBIT / Sales %
10.5
12.3
Net sales of $2,873 million were 35% higher than last year on a constant currency basis, including approximately $665 million of acquired sales, which represents growth of approximately 32%. The pass through of movements in raw material costs had a favorable impact of approximately $90 million, or 4% on net sales, and the remaining (1%) year- over-year variation reflects the impact of volumes and price/mix.
Excluding non-core businesses, the Company estimates that volumes for the Global Rigid Packaging Solutions segment were approximately 0.5% higher compared with volumes for the combined legacy Amcor and Berry businesses in the June quarter last year. Market category highlights included higher volumes in foodservice and beauty & wellness, partly offset by lower volumes in liquids. By region, volumes in North America were in line with the prior year, higher than the prior year in Europe and modestly lower across emerging markets, primarily Latin America. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales.
Adjusted EBIT of $352 million was 57% higher than last year on a constant currency basis, including approximately $52 million of acquired EBIT which represents growth of approximately 24%. The remaining 33% year-over-year variation mainly reflects synergy realization from the Berry acquisition and strong execution against initiatives to drive cost and productivity benefits, including the non-core businesses.
Global Rigid Packaging Solutions segment - FY 2026
Twelve Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
4,943
10,677
116
110
Adjusted EBIT
435
1,176
170
161
Adjusted EBIT / Sales %
8.8
11.0
Net sales of $10,677 million, were 110% higher than last year on a constant currency basis, including approximately $5.6 billion of acquired sales net of divestitures, which represents growth of approximately 114%, while the remaining (4%) year-over-year variation reflects lower volumes and price/mix. The pass through of movements in raw material costs had no material impact on net sales.
Adjusted EBIT of $1,176 million was 161% higher than last year on a constant currency basis, including approximately $635 million of acquired EBIT net of divestitures which represents growth of approximately 146%. The remaining 15% year-over-year variation mainly reflects synergy benefits from the Berry acquisition and cost reduction initiatives, partly offset by lower volumes and lower earnings in non-core businesses.
Adjusted EBIT margins of 11.0% were 220 basis points higher than the prior year reflecting the improved quality of the combined business.
U.S. GAAP Condensed Consolidated Statements of Income (Unaudited)
Three Months Ended June 30,
Twelve Months Ended June 30,
($ million, except per share amounts)
2025
2026
2025
2026
Net sales
5,082
6,398
15,009
23,506
Cost of sales
(4,187)
(5,061)
(12,175)
(18,816)
Gross profit
895
1,337
2,834
4,690
Selling, general, and administrative expenses
(408)
(568)
(1,205)
(1,931)
Amortization of acquired intangible assets
(130)
(147)
(246)
(558)
Research and development expenses
(38)
(42)
(120)
(170)
Restructuring, transaction and integration expenses, net
(236)
(36)
(307)
(298)
Other income, net
4
102
53
166
Operating income
87
646
1,009
1,899
Interest expense, net
(125)
(150)
(347)
(610)
Other non-operating income/(loss), net
(9)
(11)
(12)
(7)
Income/loss before income taxes and equity in income/(loss) of
affiliated companies
(47)
485
650
1,282
Income tax expense
6
(97)
(135)
(181)
Equity in income/(loss) of affiliated companies, net of tax
2
1
3
5
Net income/(loss)
(39)
389
518
1,106
Net income attributable to non-controlling interests
—
—
(7)
—
Net income/(loss) attributable to Amcor plc
(39)
389
511
1,106
USD:EUR average FX rate
0.8825
0.8614
0.9203
0.8574
Basic earnings per share attributable to Amcor
(0.10)
0.84
1.60
2.39
Diluted earnings per share attributable to Amcor
(0.10)
0.83
1.60
2.38
Weighted average number of shares outstanding – Basic
406.9
463.4
317.9
463.2
Weighted average number of shares outstanding – Diluted
408.0
464.6
318.6
463.8
U.S. GAAP Condensed Consolidated Statements of Cash Flows (Unaudited)
Twelve Months Ended June 30,
($ million)
2025
2026
Net income
518
1,106
Depreciation, amortization, and impairment
722
1,479
Net gain on disposal of businesses and investments
(8)
(54)
Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and
currency
(53)
(273)
Other non-cash items
211
(107)
Net cash provided by operating activities
1,390
2,151
Purchase of property, plant, and equipment and other intangible assets
(580)
(922)
Proceeds from sales of property, plant, and equipment and other intangible assets
18
73
Business acquisitions and Investments in affiliated companies, and other
(1,653)
(17)
Proceeds from divestitures
113
272
Proceeds from sale of affiliated companies and other investments
70
Net debt proceeds/(repayments)
1,876
(65)
Dividends paid
(845)
(1,195)
Share buy-back/cancellations
—
(1)
Purchase of treasury shares, proceeds from exercise of options and tax withholdings for share-
based incentive plans
(107)
(65)
Other, including effects of exchange rate on cash and cash equivalents
27
(13)
Net increase/decrease in cash and cash equivalents
239
288
Cash and cash equivalents at the beginning of the year
588
827
Cash and cash equivalents at the end of the year
827
1,115
U.S. GAAP Condensed Consolidated Balance Sheets (Unaudited)
($ million)
June 30, 2025
June 30, 2026
Cash and cash equivalents
827
1,115
Trade receivables, net
3,426
3,639
Inventories, net
3,471
3,672
Property, plant and equipment, net
8,202
7,409
Goodwill and other intangible assets, net
18,679
18,663
Other assets
2,461
2,597
Total assets
37,066
37,095
Trade payables
3,490
4,021
Short-term debt and current portion of long-term debt
257
150
Long-term debt, less current portion
13,841
13,862
Accruals and other liabilities
7,738
7,261
Shareholders' equity
11,740
11,801
Total liabilities and shareholders' equity
37,066
37,095
Components of Fiscal 2026 Net Sales growth
Three Months Ended June 30
Twelve Months Ended June 30
($ million)
Global
Flexible
Packaging
Solutions
Global Rigid
Packaging
Solutions
Total
Global
Flexible
Packaging
Solutions
Global Rigid
Packaging
Solutions
Total
Net sales fiscal year 2026
3,525
2,873
6,398
12,829
10,677
23,506
Net sales fiscal year 2025
2,994
2,088
5,082
10,066
4,943
15,009
Reported Growth %
18
38
26
27
116
57
FX %
2
3
2
3
6
5
Constant Currency Growth %
16
35
24
24
110
52
Raw Material Pass Through %
6
4
6
2
—
2
Items affecting comparability %
10
32
19
22
114
52
Organic Growth %
—
(1)
(1)
—
(4)
(2)
Volume %
1
(1)
—
(1)
(3)
(2)
Price/Mix %
(1)
—
(1)
1
(1)
—
Reconciliation of Non-GAAP Measures
Reconciliation of adjusted Earnings before interest, tax, depreciation and amortization (EBITDA), Earnings before interest
and tax (EBIT), Net income, Earnings per share (EPS) and Free Cash Flow
Three Months Ended June 30, 2025
Three Months Ended June 30, 2026
($ million)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
Net income attributable to Amcor
(39)
(39)
(39)
(0.10)
389
389
389
0.83
Net income attributable to non-controlling
interests
—
—
—
—
Tax expense
(6)
(6)
97
97
Interest expense, net
125
125
150
150
Depreciation and amortization
309
367
EBITDA, EBIT, Net income and EPS
389
80
(39)
(0.10)
1,003
636
389
0.83
Impact of hyperinflation
8
8
8
0.02
6
6
6
0.01
Restructuring, integration and related expenses, net (1)
53
53
53
0.13
24
36
36
0.08
Transaction costs
142
142
142
0.35
—
—
—
—
Merger related compensation
41
41
41
0.10
—
—
—
—
Inventory step-up amortization
133
133
133
0.33
—
—
—
—
Other
24
24
24
0.06
12
12
12
0.03
Amortization of acquired intangibles (2)
130
130
0.32
147
147
0.32
Interest expense Berry Transaction
10
0.02
—
—
Tax effect of above items
(94)
(0.23)
(20)
(0.04)
Adjusted EBITDA, EBIT, Net income and EPS
789
611
408
1.00
1,045
836
570
1.23
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBITDA, EBIT, Net income and EPS
32
37
40
23
% currency impact
2
3
4
3
% constant currency growth
30
34
36
20
% items affecting comparability (3)
18
15
% from all other sources
12
19
Adjusted EBITDA
789
1,045
Interest paid, net
(123)
(143)
Income tax paid
(138)
(70)
Purchase of property, plant and equipment and
other intangible assets
(220)
(235)
Proceeds from sales of property, plant and
equipment and other intangible assets
9
35
Movement in working capital
744
849
Other
(118)
(57)
Adjusted Free Cash Flow
943
1,424
Berry transaction and integration costs
(28)
Free cash flow
1,396
(1) Three months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Twelve Months Ended June 30, 2025
Twelve Months Ended June 30, 2026
($ million)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
(1)
Net income attributable to Amcor
511
511
511
1.60
1,106
1,106
1,106
2.38
Net income attributable to non-controlling interests
7
7
—
—
Tax expense
135
135
181
181
Interest expense, net
347
347
610
610
Depreciation and amortization
710
1,450
EBITDA, EBIT, Net income and EPS
1,710
1,000
511
1.60
3,347
1,897
1,106
2.38
Impact of hyperinflation
16
16
16
0.05
19
19
19
0.04
Restructuring, integration and related expenses, net (2)
97
97
97
0.30
234
266
266
0.58
Transaction costs
169
169
169
0.53
32
32
32
0.07
Merger related compensation
41
41
41
0.13
—
—
—
—
Inventory step-up amortization
133
133
133
0.42
—
—
—
—
Other
21
21
21
0.07
41
41
41
0.09
Amortization of acquired intangibles (3)
246
246
0.77
558
558
1.20
Interest expense Berry Transaction
15
0.05
29
0.06
Tax effect of above items
(113)
(0.35)
(188)
(0.40)
Adjusted EBITDA, EBIT, Net income and EPS
2,186
1,723
1,136
3.56
3,673
2,813
1,863
4.02
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBITDA, EBIT, Net income, and EPS
68
63
64
13
% currency impact
4
4
5
3
% constant currency growth
64
59
59
10
% items affecting comparability (4)
56
49
% from all other sources
8
10
Adjusted EBITDA
2,186
3,673
Interest paid, net
(290)
(549)
Income tax paid
(286)
(451)
Purchase of property, plant and equipment and other intangible assets
(580)
(922)
Proceeds from sales of property, plant and equipment and other intangible assets
18
48
Movement in working capital
34
(50)
Other
(156)
(156)
Adjusted Free Cash Flow
926
1,593
Berry transaction and integration costs
(290)
Free cash flow
1,303
(1) Calculation of diluted EPS for the twelve months ended June 30, 2026 and 2025, excludes net income attributable to shares to
be repurchased under forward contracts of $0 million and $1 million, respectively. Earnings per share amounts are computed
independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of
changes in average quarterly shares outstanding and due to rounding.
(2) Twelve months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(3) Amortization of acquired intangible assets from business combinations.
(4) Reflects the impact of acquired, disposed, and ceased operations.
Reconciliation of adjusted EBIT by reporting segment
Three Months Ended June 30, 2025
Three Months Ended June 30, 2026
($ million)
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Net income attributable to Amcor
(39)
389
Net income attributable to non-
controlling interests
—
—
Tax expense
(6)
97
Interest expense, net
125
150
EBIT
298
17
(236)
80
440
293
(98)
636
Impact of hyperinflation
1
7
—
8
—
6
—
6
Restructuring, integration and
related expenses, net (1)
38
7
8
53
28
22
(14)
36
Transaction costs
9
3
130
142
—
—
—
—
Merger related compensation
—
—
41
41
—
—
—
—
Inventory step-up amortization
27
106
—
133
—
—
—
—
Other
1
12
11
24
(10)
(41)
63
12
Amortization of acquired
intangibles(2)
61
67
2
130
75
72
1
147
Adjusted EBIT
435
219
(43)
611
533
352
(48)
836
Adjusted EBIT / Sales %
14.5 %
10.5 %
12.0 %
15.1 %
12.3 %
13.1 %
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBIT
23
61
—
37
% currency impact
3
4
—
3
% constant currency
20
57
—
34
% items affecting comparability (3)
7
24
—
15
% from all other sources
13
33
—
19
(1) Three months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Twelve Months Ended June 30, 2025
Twelve Months Ended June 30, 2026
($ million)
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Net income attributable to Amcor
511
1,106
Net income attributable to non-
controlling interests
7
—
Tax expense
135
181
Interest expense, net
347
610
EBIT
1,113
229
(342)
1,000
1,373
817
(294)
1,897
Impact of hyperinflation
1
15
—
16
1
18
—
19
Restructuring, integration and related
expenses, net (1)
68
12
17
97
106
120
40
266
Transaction costs
9
4
156
169
8
2
22
32
Merger related compensation
—
—
41
41
—
—
—
—
Inventory step-up amortization
27
106
—
133
—
—
—
—
Other
12
(4)
13
21
—
(35)
76
41
Amortization of acquired intangibles(2)
169
73
4
246
300
254
4
558
Adjusted EBIT
1,398
435
(110)
1,723
1,789
1,176
(152)
2,813
Adjusted EBIT / Sales %
13.9 %
8.8 %
11.5 %
13.9 %
11.0 %
12.0 %
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBIT
28
170
—
63
% currency impact
2
9
—
4
% constant currency growth
26
161
—
59
% items affecting comparability (3)
18
146
—
49
% from all other sources
8
15
—
10
(1) Twelve months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements in numerous industries; risk of loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; risk of integrating acquisitions and achieving the financial and other results and benefits anticipated at the time of acquisition; risk that the strategic review of our portfolio may cause disruptions to our business or may not result in completion of a transaction to restructure or divest non-core businesses or may not create additional value for our shareholders; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions, including impacts from the Middle East conflict; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect our business; production, supply, and other commercial risks, including those resulting from geopolitical conflicts and counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks; an inability to attract, develop, and retain our skilled workforce and manage key transitions; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; physical impacts of climate change; significant disruption at a key manufacturing facility; cybersecurity risks, which could disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which could disrupt our operations, compromise customer, employee, supplier, and other data; risk that the use of artificial intelligence could adversely affect our business and financial results; risk that the Company's significant indebtedness may limit its flexibility and increase its borrowing costs; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intellectual property infringement claims against us; litigation, including product liability claims or litigation related to Environmental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments with respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; changing ESG government regulations including climate-related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic mix of earnings; and changes in trade policy, including tariff and custom regulations or failure to comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor's filings with the SEC for free at the SEC's website (www.sec.gov). Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.
Presentation of non-GAAP information
Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow, and net debt. In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include: material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, financing-related expenses; and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company's CEO and CFO transition; and impacts related to the Russia-Ukraine conflict and conflict in the Middle East.
Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs.
Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company's reporting segments and certain of the measures are used as a component of Amcor's Board of Directors' measurement of Amcor's performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company's outlook and guidance do not contemplate the impact of any potential portfolio optimization actions, including acquisitions, divestitures, or other portfolio actions, that have not been publicly announced as of the date of this release. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort. These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections in connection with the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period.
Reconciliations of Transition Period projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for Transition Period have not been completed.
Reverse Stock Split
On January 14, 2026, the Company filed an amendment to its memorandum of association to effect a 1-for-5 reverse stock split (the "Reverse Split") of the Company's ordinary shares. The Reverse Split became effective on January 14, 2026 and reduced the number of authorized ordinary shares to 1,800,000,000 and increased the par value of the ordinary shares to $0.05 per share. Accordingly, all share and per share amounts for all prior periods presented in the discussion within this release have been adjusted retroactively, where applicable, to reflect the Reverse Split.
Presentation of combined volume performance
In order to provide the most meaningful comparison of results of volume performance by region and end market for Amcor plc and for each of its reportable segments, the Company has included commentary to reflect Amcor's estimate of year-over-year volume performance for the three and twelve months ended June 30, 2026 compared with estimated combined volumes for the legacy Amcor and Berry Global businesses for the three and twelve months ended June 30, 2025. The combined volume performance information has been presented for informational purposes and Amcor believes this information reflects the impact of the combination including allocation of volumes across the combined production footprint since May 1, 2025. For the avoidance of doubt, combined volume performance information is not intended to be, and was not, prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X.
Dividends
Amcor has received a waiver from the ASX's settlement operating rules, which will allow the Company to defer processing conversions between its ordinary share and CDI registers from September 3, 2026 to September 4, 2026 inclusive.
Vestas ve 2. čtvrtletí více než zdvojnásobila provozní zisk (EBIT), zvýšila celoroční výhled provozní marže na 7 až 9 % a oznámila zpětný odkup akcií za 400 milionů eur.
Dánský výrobce větrných turbín Vestas Wind Systems výrazně překonal očekávání trhu a vyslal silný signál, že sektor obnovitelných zdrojů znovu nabírá na síle. Společnost ve druhém čtvrtletí více než zdvojnásobila provozní zisk, zvýšila výhled marží pro letošní rok a oznámila zpětný odkup akcií v hodnotě 400 milionů eur.
Akcie dánského výrobce větrných turbín Vestas Wind Systems vzrostly až o 19 %, což představuje jejich největší jednodenní nárůst od července 2022. Investory potěšilo zvýšení výhledu ziskovosti na letošní rok a oznámení programu zpětného odkupu akcií po výrazném nárůstu nových objednávek turbín.
Provozní zisk před úroky a daněmi (EBIT) po očištění o mimořádné položky vyletěl ve druhém čtvrtletí na 446 milionů eur, tedy více než dvojnásobku toho, co očekávali analytici, proti loňským 57 mil. EUR. Tržby ve výši 4,7 mld. EUR překonaly odhady trhu (4,56 mld. EUR) a rovněž výrazně narostly z loňských 3,7 mld. EUR. A čistý upr. zisk na akcii činil 1,11 EUR z loňských 0,76 EUR/akcie.
Společnost ponechala prognózu celoročních tržeb beze změny a nadále očekává tržby v rozmezí 20 až 22 miliard eur. Nově ale očekává, že její provozní marže za celý rok dosáhne 7 až 9 %, zatímco dříve počítala s rozmezím 6 až 8 %. Společnost zároveň oznámila zpětný odkup akcií v hodnotě 400 milionů eur, který bude probíhat až do konce letošního roku.
Přestože Vestas v posledních letech zvyšovala ceny svých turbín, poptávka neklesá. Objem nových objednávek turbín vzrostl v prvním pololetí o více než 50 % meziročně. A hodnota nevyřízených zakázek (backlog) dosáhla ke konci června 36 miliard eur. Větrný průmysl tradičně zaznamenává silnější aktivitu ve druhé polovině roku, což naznačuje, že rok 2026 by mohl být pro Vestas rekordní.
Dalším pozitivním faktorem pro společnost Vestas je zlepšující se regulatorní prostředí na některých klíčových trzích. V Německu vedly reformy povolovacích procesů k výraznému růstu instalací větrných elektráren. Tento největší evropský trh s elektřinou tak začíná zrychlovat výstavbu nových větrných parků.
Také další země upravují podpůrné programy a pobídky pro rozvoj větrných elektráren budovaných na moři. Zajímavý vývoj je patrný i ve Spojených státech. Přestože prezident Donald Trump dlouhodobě vystupuje proti větrné energetice a snaží se její rozvoj omezovat, prudce rostoucí spotřeba elektřiny způsobená rozvojem AI datových center vytváří silnou poptávku po nových zdrojích energie. CEO Andersen řekl, že „Spojené státy postupně docházejí k závěru: Potřebujeme více všeho.“
Analytici JPMorgan vedení Ahashem Guptou výsledky označili za mimořádně silné. „Vestas vykázala vynikající výsledky za druhé čtvrtletí. Celkově může jít o nejlepší sadu výsledků za několik posledních let.“
Vestas se v posledních letech potýkala s prudkým růstem nákladů a problémy v dodavatelských řetězcích po pandemii covidu-19, což výrazně zasáhlo její ziskovost. Nyní však firma těží z rostoucí poptávky po větrných elektrárnách. Generální ředitel Henrik Andersen v rozhovoru uvedl: „Je to začátek něčeho mnohem většího. Přizpůsobili jsme tomu naše kapacity a jsme připraveni růst a dodávat.“
