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, /PRNewswire/ -- Allison Transmission Holdings, Inc. (NYSE: ALSN) ("Allison" or the "Company") announced the completion of its partial redemption of $100 million aggregate principal amount of its 4.750% Senior Notes due 2027 (the "notes") on September 30, 2026 (the "redemption date"), pursuant to its optional redemption right under the indenture governing the notes, dated as of September 26, 2017.

On the redemption date, the notes were redeemed at a redemption price of 100.00% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. Following the completion of the partial redemption, $300 million aggregate principal amount of the notes remain outstanding.

About Allison

Allison (NYSE: ALSN) is a global leader in high-performance mobility and work solutions built for the needs of the modern industrial world. Allison operates through two business units: Allison Transmission and Allison Off-Highway Drive & Motion Systems. Headquartered in Indianapolis, Indiana, USA, the Company manufactures solutions which offer industry-leading value propositions across vital sectors such as infrastructure, mining, energy, agriculture, construction, transportation and national security. For over 110 years, Allison has been recognized as a reliable partner of choice, keeping essential industries moving anytime, in over 150 countries around the world.

SOURCE Allison Transmission Holdings Inc.

MIAMI, Oct. 02, 2026 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for October 2026 of $0.0833 per share, comprised of an $0.08 per share base dividend and $0.0033 per share supplemental dividend, payable on November 2, 2026 to stockholders of record as of October 15, 2026. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

The Company, which operates as a regulated investment company (“RIC”), generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders. The U.S. tax law permits a RIC to report the portion of distributions paid that represents interest-related dividends as exempt from U.S. withholding tax when paid to non-U.S. stockholders with proper documentation.

The specific tax characteristics of this distribution can be found on our website www.pennantpark.com.

ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.

PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC, a leading middle market credit platform, and its affiliates, manage over $10 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles, Amsterdam, and Zurich. For more information about PennantPark and affiliates, please go to our website at www.pennantpark.com.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

The information contained herein is based on current tax laws, which may change in the future. The Company cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in this material does not constitute any specific legal, tax or accounting advice. Please consult with qualified professionals for this type of advice.

CONTACT:
Richard T. Allorto, Jr.
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com

The Federal Aviation Administration said Friday that it has determined a new software glitch on some Boeing 737 Max aircraft isn't a flight-safety issue.

The determination paves the way to certification for the last model in the company's best-selling family of airplanes, the 737 Max 10, just as Boeing seeking to sell and deliver more aircraft after years of safety and manufacturing crises.

Boeing flagged the software issue, which could affect certain landing procedures, last month and the FAA on Monday said it was reviewing to determine if it poses a safety of flight issue.

"Following a thorough review, a panel of FAA safety experts on Friday determined a software issue in certain Boeing 737 MAX flight computers is not a safety concern," the FAA said. "The FAA's Corrective Action Review Board made that determination because pilots retain full control of the aircraft and the indications to the flight crew are clear and unambiguous."

Boeing said the issue could arise after a missed approach when pilots alter a preprogrammed flight path, and that pilots must take additional steps to use automated tools on subsequent approaches.

The FAA said on Friday that it will issue a special bulletin to airlines on how to recognize and respond to the issue if it arises.

The agency convened a review board on Friday to assess the issue. Participants included FAA experts on airframes, flight controls, propulsion, flight testing and others.

"As with any situation, the FAA will consider appropriate action if it receives new information about this issue," the agency said.

U.S. airlines said they're not affected by the issue since they could revert to older versions of the software, but the problem raised questions about certification of the Boeing 737 Max 10, which Boeing and airlines expected to come in early fall.

The Max 10 is the largest in the family of airplanes and would be the last of the Max lineup to win government certification to fly. The FAA approved the Max 7, the smallest in the Max family, in August.

Chief executives of 737 Max 10 customers, Alaska Airlines and Ryanair, earlier this week brushed off concerns about the aircraft's certification delays.

Read more CNBC airline newsBudget airline king Bill Franke warms to premium upgradesCompanies spurn airlines’ cheapest business class ticketsUnited’s next decision: What to do with all those Boeing 737 Max 10 seats it ordered years agoWhy flights are so expensive and will likely stay that waySouthwest Airlines put Texas jet fuel on a boat to LA for the first time amid supply worriesRecord heat, crowds drive offseason boom in international travel

American Express
AXP +0.23% 89

, the card network and premium financial-services company, launched its revamped Amex Corporate platform on September 30, bringing cashback cards, expense software and AI capabilities into one package. Shares stood at $300.225 at 11.10am ET on October 2, down approximately 0.6%. The pitch is simple: make corporate spending easier to manage and give businesses more reasons to keep their payments with Amex.

The software connects card transactions with expense reporting, while the mobile app creates expense submissions as purchases happen. Businesses can also set rules governing where, when and how employees spend. According to PYMNTS, Amex plans to add AI agents later this year that chase missing expense details and answer finance teams' spending questions. Those planned agents give investors another milestone to watch; the launch alone does not establish how much additional business the platform will generate.

The investment case comes down to stickier customers and more spending flowing through Amex's network. Connecting payments and expense workflows could make switching providers more cumbersome, but competitors can add AI features too. The valuation snapshot puts shares 7.52% below the $324.63 GF Value estimate, suggesting a modest valuation cushion rather than proof of a bargain. Customer adoption, retention and payment growth will show whether this overhaul delivers more than a better interface.

Check the Warning Signs for

AXP

now!

Realty Income has handed out monthly dividends for decades and built a global property empire spanning casinos, data centers, and European real estate, yet patient long-term holders still trail the S&P 500 by a stunning margin. Whether the next decade…

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

A Strip-Mall Landlord Turned Global Property Giant Realty Income (NYSE:O) is a net lease REIT that owns single-tenant buildings where tenants pay most taxes, insurance, and maintenance. Rent and dividends come monthly, earning the nickname “The Monthly Dividend Company”.

A decade ago it was mostly a U.S. retail landlord. Mergers with VEREIT (2021) and Spirit Realty Capital (2024) expanded it to 15,542 properties across eight European countries plus Mexico. Industrial properties made up 65% of Q2 2026 new investment. It owns casino properties including Bellagio and announced a $6 billion hyperscale data center JV in 2026. Occupancy was 98.8%.

The monthly dividend grew from $0.202 in September 2016 to $0.2715 in September 2026, marking the company’s 115th consecutive quarterly dividend increase.

Dividends Turned a Price Loss Into a Gain All periods run from September month-end close to October 1, 2026 close, with reinvested dividends unless marked “price only.” S&P 500 figures include reinvested dividends.

1-Year Return

Initial Investment: $1,000 Current Value: $933.13 Total Return: -6.69% (price only: -11.94%) S&P 500 (same period): $1,159.18 (15.92%) 5-Year Return

Initial Investment: $1,000 Current Value: $1,103.92 Total Return: 10.39% (price only: -17.47%) Annualized Return: 2.00% S&P 500 (same period): $1,903.74 (90.37%) 10-Year Return

Initial Investment: $1,000 Current Value: $1,330.52 Total Return: 33.05% (price only: $799.79, or -20.02%) Annualized Return: 2.90% S&P 500 (same period): $4,138.75 (313.87%) Reinvested dividends added $530.73, turning a price loss into a gain. The stock fell from $78.41 in January 2020 to $38.00 intraday in March 2020, a 51.54% drop. Rising rates hurt further: the 10-year Treasury yield rose from 1.52% at end-2021 to 5.29% by September 30, 2026. Shares fell 35.96% from July 2022 to October 2023, then lost another 12.32% in the past month.

I’m Waiting for Treasury Yields to Crack The case for Realty Income improves if long-term rates have topped out and weakens if the 10-year Treasury yield remains above 5%.

The bull case: The stock yields 5.77% and the company carries an “A” rating from Fitch. Management raised 2026 adjusted funds from operations (AFFO, a REIT cash-earnings measure) guidance to $4.44 to $4.45 per share and investment guidance to $10.0B. Its private capital funds also reduce how often it has to sell new shares to fund deals.

The bear case: AFFO growth is running at about 4%. Tenants without investment-grade credit account for 65.7% of base rent, and the watch list remains in the high 5% range. Treasuries now pay close to the stock’s yield, with no credit risk.

Can the next decade match the last? Possibly, but that means low-to-mid single-digit total returns depending mostly on dividends, still trailing the S&P 500. Falling Treasury yields are the key signal to watch.

Contact [email protected] for any questions or corrections.

Palantir Technologies
PLTR -0.39% 83

, the defense and enterprise-AI software company, named Armada its first certified modular data-center partner, with shares up approximately 1.82% to $193.505 at 11.05am ET on October 2. The partnership targets governments and businesses that want control over their AI infrastructure. The valuation graphic puts the stock 5.78% above its $182.93 GF Value™, suggesting investors already price in some growth upside.

The offering brings Palantir's sovereign-AI software together with Armada's modular data centers and infrastructure-management tools. According to Financial News, the hardware will be manufactured in the United States and allied countries. Customers would run models on infrastructure they own and control. The companies disclosed no contract value, purchase commitment, customer count or revenue-sharing terms.

For Palantir, the opportunity is to make its software easier to deploy where data security, equipment origin and local control shape purchasing decisions. An integrated package could reduce the work customers face stitching together separate systems. But certification does not put dollars into backlog by itself. The next meaningful proof is paying customers—and evidence that deployments turn into recurring software revenue.

Check the Warning Signs for

PLTR

now!

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) announced today that the U.S. Food and Drug Administration (FDA) has approved an additional indication for Jaypirca (pirtobrutinib, 100 mg & 50 mg tablets), a non-covalent Bruton tyrosine kinase (BTK) inhibitor, for the treatment of adult patients with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) with no known 17p deletion. This approval allows for the use of Jaypirca as a first-line treatment for appropriate patients.

"This approval is grounded in data from BRUIN CLL-313, which showed a significant delay in disease progression for pirtobrutinib compared to chemoimmunotherapy, along with safety and tolerability consistent with its established profile," said Jennifer A. Woyach, M.D., professor, hematologist-oncologist, and Director of the Division of Hematology at The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute. "Doctors can now consider pirtobrutinib for appropriate patients when initial therapy is needed, not just later in a patient's treatment journey. Given the efficacy and tolerability of modern targeted therapies – coupled with factors like age or comorbidity – many people diagnosed with CLL or SLL today may only receive one or two lines of therapy, making initial treatment choices critically important."

The labeling for Jaypirca contains warnings and precautions for infections, hemorrhage, cytopenias, cardiac arrhythmias, second primary malignancies, hepatotoxicity including drug-induced liver injury and embryo-fetal toxicity. See Important Safety Information below and full Prescribing Information for additional information, including dosing modifications.

Jaypirca, the first-and-only FDA-approved non-covalent BTK inhibitor, is a highly selective kinase inhibitor that utilizes a novel non-covalent binding mechanism to target the BTK pathway in patients with CLL/SLL.1,2

The FDA approval is based on results from the primary analysis of the BRUIN CLL-313 clinical trial, which were presented at the American Society of Hematology Annual Meeting and Exposition in December 2025 and published in The Journal of Clinical Oncology.3  BRUIN CLL-313 is the first prospective, randomized Phase 3 study to examine the efficacy and safety of a non-covalent BTK inhibitor in patients with previously untreated CLL/SLL without 17p deletion.

In BRUIN CLL-313, at a median follow-up of 28 months, the primary endpoint of Independent Review Committee (IRC)-assessed progression-free survival (PFS) was significantly improved with pirtobrutinib (n=141) compared to bendamustine plus rituximab (BR) (n=141) (HR=0.20 [95% CI, 0.11–0.37]; p<0.0001), and the median PFS was not yet reached for pirtobrutinib compared to 33.5 months for BR.4 IRC-assessed overall response rate (ORR) was 94% (95% CI, 89–98) in the pirtobrutinib arm (complete response [CR]=13%; partial response [PR]=81%) and 81% (95% CI, 73–87) in the BR arm (CR=21%; PR=60%). In the BRUIN CLL-313 trial, adverse reactions (ARs) led to dose reductions in 3.6% and permanent discontinuation of Jaypirca in 4.3% of patients. Serious ARs occurred in 28% of patients who received Jaypirca. Serious ARs occurring in ≥3% of patients included pneumonia (5%). The overall safety profile, including rates of atrial fibrillation or flutter, for patients treated with pirtobrutinib in the BRUIN CLL-313 trial was consistent with previously reported trials across treatment settings.

"This additional approval for Jaypirca, based on BRUIN CLL-313, marks a significant step forward, expanding its potential to reach more patients who may benefit – this time as an initial treatment for certain previously untreated patients with CLL or SLL," said Jacob Van Naarden, executive vice president and president of Lilly Oncology. "This milestone underscores Jaypirca's versatility in the CLL continuum of care, from the first-line setting for appropriate patients to its valuable role in the relapsed or refractory post-covalent BTK inhibitor setting, reinforcing Jaypirca's broad applicability as a meaningful treatment option for people with CLL or SLL."

Jaypirca is the first-and-only non-covalent BTK inhibitor recommended by the National Comprehensive Cancer Network® (NCCN®).1,5,6,7 Jaypirca is Category 2A recommended for treatment-naïve adult patients with CLL/SLL without del(17p), recommended for older patients with cardiac comorbidities who may only need one lifetime treatment for CLL/SLL.8 Jaypirca is a Category 1 preferred option for adult patients with relapsed or refractory CLL/SLL who have previously been treated with a covalent BTK inhibitor. Please see full NCCN guidelines for more information.

Lilly is studying Jaypirca in CLL/SLL in multiple Phase 3 studies. Details on the trials can be found by visiting clinicaltrials.gov.

See Important Safety Information below and full Prescribing Information for additional information.

Click here to view the CLL infographic.

About the BRUIN Clinical Development Program
The BRUIN clinical development program comprises four positive Phase 3 studies evaluating pirtobrutinib across multiple lines of CLL/SLL:

BRUIN CLL-313 is the first prospective, randomized Phase 3 study to examine the efficacy and safety of a non-covalent BTK inhibitor in patients with previously untreated CLL without 17p deletion. The BRUIN CLL-313 study is evaluating pirtobrutinib versus chemoimmunotherapy (BR) in patients with CLL/SLL without 17p deletion who have not been previously treated. BRUIN CLL-314 is the first head-to-head Phase 3 CLL trial to compare covalent and non-covalent BTK inhibitors in a BTKi-naïve population, which included relapsed and refractory and treatment-naïve patients. The BRUIN CLL-314 study is evaluating pirtobrutinib versus ibrutinib in patients with CLL/SLL who were either treatment-naïve, or who were previously treated and were BTK inhibitor-naïve. BRUIN CLL-321 is the first randomized Phase 3 study in CLL in which all patients were previously treated with a covalent BTK inhibitor. The BRUIN CLL-321 study is evaluating pirtobrutinib versus investigator's choice of idelalisib plus rituximab (IdelaR) or BR in covalent BTK inhibitor pre-treated patients with relapsed and refractory CLL/SLL. BRUIN CLL-322 is the first Phase 3 readout in CLL to utilize a venetoclax-containing control arm. The BRUIN CLL-322 study is evaluating time-limited pirtobrutinib plus venetoclax and rituximab versus venetoclax and rituximab in previously treated CLL/SLL patients. About BRUIN CLL-313
BRUIN CLL-313 (NCT05023980) is a Phase 3, global, randomized, open-label study of Jaypirca (pirtobrutinib) versus chemoimmunotherapy (BR) in people with CLL/SLL without 17p deletion who have not been previously treated. The trial enrolled 282 patients who were randomized 1:1 to receive pirtobrutinib (200 mg orally, once daily until disease progression or unacceptable toxicity) or BR per labeled doses. BR is a chemoimmunotherapy regimen used in the treatment of CLL. The primary endpoint is PFS as assessed by blinded IRC. Secondary endpoints include investigator and IRC-assessed ORR and duration of response (DoR), investigator-assessed PFS, overall survival (OS), time to next treatment (TTNT), safety and tolerability and patient-reported outcomes (PRO).

About Jaypirca (pirtobrutinib)
Jaypirca (pirtobrutinib, formerly known as LOXO-305) (pronounced jay-pihr-kaa) is a highly selective (300 times more selective for BTK versus 98% of other kinases tested in preclinical studies), non-covalent inhibitor of the enzyme BTK, and is the first-and-only approved non-covalent BTK inhibitor binding to both wild-type and C481 mutated BTK.2 BTK is a validated molecular target found across numerous B-cell leukemias and lymphomas including mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL).9,10 Jaypirca is a U.S. FDA-approved oral prescription medicine, 100 mg or 50 mg tablets taken as a once-daily 200 mg dose with or without food until disease progression or unacceptable toxicity.

About Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma
CLL and SLL are forms of slow-growing non-Hodgkin lymphoma that develop from white blood cells known as lymphocytes.11 CLL is one of the most common types of leukemia in adults.11 In the U.S., CLL accounts for about one-quarter of the new cases of leukemia and there will be approximately 22,760 new cases of CLL diagnosed this year.11,12 SLL is identical to CLL from a pathologic and immunophenotypic standpoint, with the main difference between them being the location of the cancer cells.11 In CLL, the cancer cells are present in the blood, and in SLL, the cancer cells are found in the lymph nodes.11

INDICATIONS FOR JAYPIRCA (pirtobrutinib)
Jaypirca is indicated for the treatment of:

Adult patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have previously been treated with a covalent BTK inhibitor. Adult patients with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) with no known 17p deletion. Adult patients with relapsed or refractory (R/R) mantle cell lymphoma (MCL) after at least two lines of systemic therapy, including a BTK inhibitor. This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial. IMPORTANT SAFETY INFORMATION FOR JAYPIRCA (pirtobrutinib)

Infections: Fatal and serious infections (including bacterial, viral, fungal) and opportunistic infections occurred in Jaypirca-treated patients. Across all clinical trials, Grade ≥3 infections occurred (23%), most commonly pneumonia (13%); fatal infections (4.3%), sepsis (4.8%), and febrile neutropenia (3.3%) occurred. In patients with CLL/SLL, Grade ≥3 infections occurred (24%), with fatal infections occurring in 5%. Opportunistic infections included Pneumocystis jirovecii pneumonia and fungal infection. Consider prophylaxis, including vaccinations and antimicrobial prophylaxis, in patients at increased risk for infection, including opportunistic infections. Monitor for signs and symptoms, evaluate, and treat. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Hemorrhage: Fatal and serious hemorrhage has occurred with Jaypirca. Across all clinical trials, major hemorrhage (Grade ≥3 bleeding or any central nervous system bleeding) occurred (3.1%), including gastrointestinal hemorrhage; fatal hemorrhage occurred (0.3%). Bleeding of any grade, excluding bruising and petechiae, occurred (18%). Major hemorrhage occurred when taking Jaypirca with (1.3%) and without (1.8%) antithrombotic agents. Consider risks/benefits of coadministering antithrombotic agents with Jaypirca. Monitor for signs of bleeding. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca. Consider withholding Jaypirca 3-7 days pre- and post-surgery based on surgery type and bleeding risk.

Cytopenias: Jaypirca can cause cytopenias, including neutropenia, thrombocytopenia, and anemia. Across all clinical trials, Grade 3 or 4 cytopenias, including decreased neutrophils (26%), decreased platelets (9%), and decreased hemoglobin (9%), developed. Grade 4 decreased neutrophils (14%) and Grade 4 decreased platelets (4.3%) developed. Monitor complete blood counts regularly. Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Cardiac Arrhythmias: Cardiac arrhythmias occurred in patients taking Jaypirca. Across all clinical trials, atrial fibrillation or flutter were reported in 3.1% of Jaypirca-treated patients, with Grade 3 or 4 atrial fibrillation or flutter in 1.6%. Other serious cardiac arrhythmias such as supraventricular tachycardia and cardiac arrest occurred (0.3%). Cardiac risk factors such as hypertension or previous arrhythmias may increase risk. Monitor and manage signs and symptoms of arrhythmias (e.g., palpitations, dizziness, syncope, dyspnea). Based on severity, reduce dose, temporarily withhold, or permanently discontinue Jaypirca.

Second Primary Malignancies: Across all clinical trials, second primary malignancies, including non-skin carcinomas, developed in 10% of Jaypirca-treated patients, most frequently non-melanoma skin cancer (4.9%). Other second primary malignancies included solid tumors (including genitourinary and breast cancers) and melanoma. Advise patients to use sun protection and monitor for development of second primary malignancies.

Hepatotoxicity, Including Drug-Induced Liver Injury (DILI): Hepatotoxicity, including severe, life-threatening, and potentially fatal cases of DILI, has occurred in patients treated with BTK inhibitors, including Jaypirca. Evaluate bilirubin and transaminases at baseline and throughout Jaypirca treatment. For patients who develop abnormal liver tests after Jaypirca, monitor more frequently for liver test abnormalities and clinical signs and symptoms of hepatic toxicity. If DILI is suspected, withhold Jaypirca. If DILI is confirmed, discontinue Jaypirca.

Embryo-Fetal Toxicity: Jaypirca can cause fetal harm. Administration of pirtobrutinib to pregnant rats caused embryo-fetal toxicity, including embryo-fetal mortality and malformations at maternal exposures (AUC) approximately 3-times the recommended 200 mg once daily dose. Advise pregnant women of fetal risk and females of reproductive potential to use effective contraception during treatment and for one week after last dose.

Adverse Reactions (ARs) in Patients Who Received Jaypirca

The most common (≥30%) ARs in the pooled safety population of patients with hematologic malignancies (n=1153) were decreased neutrophil count (56%) and decreased hemoglobin (38%).

Mantle Cell Lymphoma

Serious ARs occurred in 38% of patients, with pneumonia (14%), COVID-19 (4.7%), musculoskeletal pain (3.9%), hemorrhage (2.3%), pleural effusion (2.3%), and sepsis (2.3%) occurring in ≥2% of patients. Fatal ARs within 28 days of last dose occurred in 7% of patients, most commonly due to infections (4.7%), including COVID-19 (3.1% of all patients).

Dose Modifications and Discontinuations Due to ARs: Dose reductions in 4.7%, treatment interruption in 32%, and permanent discontinuation of Jaypirca in 9% of patients. Permanent discontinuation in >1% of patients included pneumonia.

Most common ARs (≥15%) and Select Laboratory Abnormalities (≥10%) (all Grades %; Grade 3 or 4%): hemoglobin decreased (42; 9), platelet count decreased (39; 14), neutrophil count decreased (36; 16), lymphocyte count decreased (32; 15), creatinine increased (30; 1.6), fatigue (29; 1.6), musculoskeletal pain (27; 3.9), calcium decreased (19; 1.6), diarrhea (19; -), edema (18; 0.8), dyspnea (17; 2.3), AST increased (17; 1.6), pneumonia (16; 14), bruising (16; -), potassium decreased (13; 1.6), sodium decreased (13; -), lipase increased (12; 4.4), ALT increased (11; 1.6), potassium increased (11; 0.8), alkaline phosphatase increased (11; -). Grade 4 laboratory abnormalities in >5% of patients included neutrophils decreased (10), platelets decreased (7), lymphocytes decreased (6).

Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma from Single-Arm and Randomized Controlled Clinical Trials

Serious ARs occurred in 28-56% of patients across clinical trials. Serious ARs in ≥5% of patients in the single-arm trial were pneumonia (18%), COVID-19 (9%), sepsis (7%), febrile neutropenia (7%). Serious ARs in ≥3% of patients in the randomized controlled trials were pneumonia (5-21%), COVID-19 (5%), sepsis (3.4%). Across clinical trials, fatal ARs within 28-30 days of last Jaypirca dose occurred in 0.7-11% of patients, most commonly due to infections (7-10%), including sepsis (5%), COVID-19 (2.7-5%), pneumonia (3.4%) and septic shock (0.7%).

Dose Modifications and Discontinuations Due to ARs: Dose reductions in 3.6-10%, treatment interruption in 35-51%, and permanent discontinuation of Jaypirca in 4.3-17% of patients. Permanent discontinuation in >1% of patients included second primary malignancy, pneumonia, COVID-19, neutropenia, sepsis, anemia, and cardiac arrhythmias.

Most common ARs and Select Laboratory Abnormalities (≥20%) (all Grades %, Grade 3 or 4%)—across randomized controlled trials: neutrophil count decreased (48-54; 14-26), hemoglobin decreased (24-45; 6-10), platelet count decreased (37; 17), upper respiratory tract infections (21-27; 0.9-2.1), bilirubin increased (21-30; 0.9-5), pneumonia (28; 16), ALT increased (25-27; 1.8-2.9), creatinine increased (25; -), calcium decreased (23; 0.9), sodium decreased (22; 0.9), rash (22; 0.7), COVID-19 (21; 0.7), sodium increased (20; -); in a single-arm trial: neutrophil count decreased (63; 45), hemoglobin decreased (48; 19), calcium decreased (40; 2.8), fatigue (36; 2.7), bruising (36; -), cough (33; -), musculoskeletal pain (32; 0.9), platelet count decreased (30; 15), sodium decreased (30; -), COVID-19 (28; 7), pneumonia (27; 16), diarrhea (26; -), abdominal pain (25; 2.7), lymphocyte count decreased (23; 8), ALT increased (23; 2.8), AST increased (23; 1.9), creatinine increased (23; -), dyspnea (22; 2.7), hemorrhage (22; 2.7), lipase increased (21; 7), alkaline phosphatase increased (21; -), edema (21; -), nausea (21; -), pyrexia (20; 2.7), headache (20; 0.9). Grade 4 laboratory abnormalities in >5% of patients included neutrophils decreased (23).

Drug Interactions

Strong CYP3A Inhibitors: Concomitant use increased pirtobrutinib systemic exposure, which may increase risk of Jaypirca ARs. Avoid using strong CYP3A inhibitors with Jaypirca. If concomitant use is unavoidable, reduce Jaypirca dose according to approved labeling.

Strong or Moderate CYP3A Inducers: Concomitant use decreased pirtobrutinib systemic exposure, which may reduce Jaypirca efficacy. Avoid using Jaypirca with strong or moderate CYP3A inducers. If concomitant use with moderate CYP3A inducers is unavoidable, increase Jaypirca dose according to approved labeling.

Sensitive CYP2C8, CYP2C19, CYP3A, P-gp, or BCRP Substrates: Use with Jaypirca increased their plasma concentrations, which may increase risk of ARs related to these substrates for drugs sensitive to minimal concentration changes. Follow recommendations for these sensitive substrates in their approved labeling.

Use in Specific Populations

Pregnancy and Lactation: Due to potential for Jaypirca to cause fetal harm, verify pregnancy status in females of reproductive potential prior to starting Jaypirca. Presence of pirtobrutinib in human milk is unknown. Advise women to use effective contraception and to not breastfeed while taking Jaypirca and for one week after last dose.

Geriatric Use: In the pooled safety population of patients with hematologic malignancies, patients aged ≥65 years experienced higher rates of Grade ≥3 ARs and serious ARs compared to patients <65 years of age.

Renal Impairment: Because severe renal impairment increases pirtobrutinib exposure, reduce Jaypirca dose in these patients according to approved labeling.

PT HCP ISI MCL_CLL OCT2026

Please see Prescribing Information and Patient Information for Jaypirca.

Frequently Asked Questions 

1. What is Jaypirca (pirtobrutinib)?

Jaypirca (pirtobrutinib) is a highly selective kinase inhibitor that is 300 times more selective for Bruton tyrosine kinase (BTK) versus 98% of other kinases tested in preclinical studies.2 Jaypirca is the first-and-only approved non-covalent BTK inhibitor binding to both wild-type and C481 mutated BTK.2 BTK is a validated molecular target found across numerous B-cell leukemias and lymphomas including mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL).9,10 The FDA approved Jaypirca as a monotherapy for the treatment of adult patients with previously untreated CLL or small lymphocytic lymphoma (SLL) with no known 17p deletion in October 2026.

2. What is chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL)?

CLL and SLL are forms of slow-growing non-Hodgkin lymphoma that develop from white blood cells called lymphocytes.11 CLL and SLL are considered different forms of the same disease and share the same pathologic and immunophenotypic characteristics.11 The primary difference between CLL and SLL is where the cancer cells are located.11 In CLL, the cancer cells are found primarily in the blood, while in SLL, the cancer cells are found primarily in the lymph nodes.11 CLL is one of the most common forms of leukemia in adults and accounts for approximately one-quarter of new leukemia diagnoses in the United States.11 An estimated 22,760 people in the U.S. will be diagnosed with CLL this year.12

3. What is chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) with no known 17p deletion?

For people with CLL or SLL, certain cytogenic factors may be associated with a higher risk of disease progression.11 One of these factors is a deletion in chromosome 17 [del(17p)] that is found in about 5% to 8% of patients with CLL/SLL when they are first diagnosed.11,13 Del(17p) typically affects the tumor protein p53 (TP53) tumor suppressor gene.11

4. As the basis of this approval, what are the clinical benefits of Jaypirca (pirtobrutinib) for adults with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) with no known 17p deletion?

In the Phase 3 BRUIN CLL-313 study, pirtobrutinib significantly improved Independent Review Committee (IRC)-assessed progression-free survival (PFS) compared to bendamustine plus rituximab (BR) (HR=0.20 [95% CI, 0.11–0.37]; p<0.0001) in patients with previously untreated CLL/SLL without 17p deletion, and the median PFS was not yet reached for pirtobrutinib compared to 33.5 months for BR.4  IRC-assessed overall response rate (ORR) was 94% (95% CI, 89–98) in the pirtobrutinib arm (complete response [CR]=13%; partial response [PR]=81%) and 81% (95% CI, 73–87) in the BR arm (CR=21%; PR=60%).

5. What are the safety results for Jaypirca (pirtobrutinib) from the BRUIN CLL-313 trial?

The overall safety profile, including rates of atrial fibrillation or flutter, for patients treated with pirtobrutinib in the BRUIN CLL-313 trial was consistent with previously reported trials across treatment settings. In the BRUIN CLL-313 trial, in patients with previously untreated CLL/SLL without 17p deletion, a low rate of all-grades atrial fibrillation or flutter was observed, occurring in 1.4% of patients taking pirtobrutinib. Median duration of treatment with pirtobrutinib was 32 months with 92% on treatment for greater than 24 months. Clinically relevant adverse reactions in <10% of patients who received pirtobrutinib include pneumonia and headache. Patients with significant cardiovascular disease (including uncontrolled or symptomatic arrhythmias) were excluded from the CLL-313 study, and the Prescribing Information for Jaypirca includes a Cardiac Arrhythmias warning/precaution. The all-grades adverse reactions ≥20% reported for patients treated with Jaypirca were upper respiratory tract infection (27%), rash (22%), COVID-19 including COVID-19 pneumonia (21%). Select all-grades laboratory abnormalities (≥20%) that worsened from baseline were neutrophil count decreased (48%), bilirubin increased (30%), ALT increased (27%), hemoglobin decreased (24%), and sodium increased (20%).

6. How does this indication for Jaypirca (pirtobrutinib) differ from the previously approved indication for patients with CLL in the U.S.?

In December 2025, the U.S. Food and Drug Administration (FDA) granted approval to Jaypirca (pirtobrutinib) for the treatment of adults with relapsed or refractory CLL or SLL who have previously been treated with a covalent BTK inhibitor. This prior FDA action expanded the Jaypirca label to include patients earlier in their treatment course and converted the December 2023 accelerated approval for later-line CLL/SLL to a traditional approval. This new approval in the U.S. authorizes Jaypirca for adult patients with previously untreated CLL/SLL with no known 17p deletion. This expanded indication brings Jaypirca to the first-line CLL/SLL setting for certain previously untreated patients.

7. Is Jaypirca (pirtobrutinib) approved for 1L CLL treatment?

Yes, Jaypirca (pirtobrutinib) is approved for adult patients with previously untreated CLL/SLL patients with no known 17p deletion. For appropriate patients starting treatment, physicians may consider Jaypirca in 1L CLL.

8. How is Jaypirca (pirtobrutinib) different than ibrutinib, acalabrutinib and zanubrutinib?

Jaypirca (pirtobrutinib) is the first-and-only approved non-covalent BTK inhibitor, representing a newer class of BTK inhibitor compared to ibrutinib, acalabrutinib, and zanubrutinib which are all covalent BTK inhibitors. Based on preclinical studies, pirtobrutinib is different in where and how it binds to the BTK protein in the adenosine triphosphate (ATP) pocket. There are no data from trials between Jaypirca and covalent BTK inhibitors comparing the clinical significance of their different binding mechanisms.

9. Is Jaypirca (pirtobrutinib) recommended in the NCCN® Guidelines?

Jaypirca (pirtobrutinib) is the first-and-only non-covalent BTK inhibitor recommended by the National Comprehensive Cancer Network® (NCCN®).1,5,6,7 Jaypirca is Category 2A recommended for treatment-naïve adult patients with CLL/SLL without del(17p), recommended for older patients with cardiac comorbidities who may only need one lifetime treatment for CLL/SLL.8 Jaypirca is a Category 1 preferred option for adult patients with R/R CLL/SLL who have previously been treated with a covalent BTK inhibitor. Please see full NCCN guidelines for more information.

10. In which Phase 3 clinical trials is Jaypirca (pirtobrutinib) being studied in CLL and SLL?

Jaypirca (pirtobrutinib) is currently being studied in four Phase 3 clinical trials in CLL and SLL:

BRUIN CLL-321 (NCT04666038) is a Phase 3 open-label, randomized study of pirtobrutinib (LOXO-305) versus investigator's choice of idelalisib plus rituximab or bendamustine plus rituximab in BTK inhibitor pretreated CLL/SLL. More information on the BRUIN CLL-321 study can be found on clinicaltrials.gov. BRUIN CLL-322 (NCT04965493) is a Phase 3 open-label, randomized study of fixed duration pirtobrutinib plus venetoclax and rituximab versus venetoclax and rituximab in previously treated CLL/SLL. More information on the BRUIN CLL-322 study can be found on clinicaltrials.gov. BRUIN CLL-313 (NCT05023980) is a Phase 3 open-label, randomized study of pirtobrutinib versus bendamustine plus rituximab in untreated patients with CLL. More information on the BRUIN CLL-313 study can be found on clinicaltrials.gov. BRUIN CLL-314 (NCT05254743) is a Phase 3 open-label, randomized study of pirtobrutinib versus ibrutinib in patients with CLL/SLL. More information on the BRUIN CLL-314 study can be found on clinicaltrials.gov. 11. What makes BRUIN CLL-313 different from other CLL trials?

BRUIN CLL-313 (NCT05023980) is the first Phase 3 study to evaluate a non-covalent BTK inhibitor in patients with previously untreated CLL without 17p deletion.

12. With this approval, how many people living with CLL may now be eligible for treatment with Jaypirca (pirtobrutinib)?

There are roughly 23,000 new cases of CLL in the U.S. each year, and approximately 92% to 95% of patients diagnosed with CLL do not have a 17p deletion.12,13 The majority of treated patients with CLL will receive a BTK therapy at some point in their treatment, with many patients today receiving potentially only one or two lines of therapy throughout their entire treatment journey.

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. P-LLY

CMAT-52809 10/2026

© Lilly USA, LLC 2026. ALL RIGHTS RESERVED.

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Jaypirca (pirtobrutinib), as a treatment for adult patients with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) with no known 17p deletion, adult patients with relapsed or refractory CLL/SLL who have previously been treated with a covalent Bruton tyrosine kinase (BTK) inhibitor and as a treatment for adult patients with relapsed or refractory mantle cell lymphoma (MCL) after at least two lines of systemic therapy, including a BTK inhibitor, and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other things, there is no guarantee that planned or ongoing studies will be completed as planned, that future study results will be consistent with study results to date, that Jaypirca will receive additional regulatory approvals, or that Lilly will execute its strategy as expected. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Endnotes & References

Jaypirca. Prescribing Information. Lilly USA, LLC. Mato AR, Shah NN, Jurczak W, et al. Pirtobrutinib in relapsed or refractory B-cell malignancies (BRUIN): a phase 1/2 study. Lancet. 2021;397(10277):892-901. doi:10.1016/S0140-6736(21)00224-5 Jurczak W, Kwiatek M, Czyz J, et al. BRUIN CLL-313: Randomized Phase III Trial of Pirtobrutinib Versus Bendamustine Plus Rituximab in Untreated Patients With Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma. J Clin Oncol. 2026;44(6):466-475. doi:10.1200/JCO-25-02380 Based on Kaplan-Meier estimation. Lilly does not recommend use outside of its approved indications. NCCN makes no warranties of any kind whatsoever regarding their content, use or application and disclaims any responsibility for their application or use in any way.6 To view the most recent and complete version of the guideline, go online to NCCN.org. NCCN Defines: Category 1: Based upon high-level evidence (≥1randomized phase 3 trials or high-quality, robust meta-analyses), there is uniform NCCN consensus (≥85% support of the Panel) that the intervention is appropriate. Preferred intervention: interventions that are based on superior efficacy, safety, and evidence; and, when appropriate, affordability. Referenced with permission from the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma V2.2027 ©National Comprehensive Cancer Network, Inc. 2026. All rights reserved. Accessed September 30, 2026. To view the most recent and complete version of the guidelines, go online to NCCN.org NCCN Category recommendations for pirtobrutinib do not differ based on del(17p) and/or TP53 mutation status. There are no available data on optimal sequencing of therapy for patients with disease progression on pirtobrutinib and development of cross resistance to covalent BTK inhibitor. Hanel W, Epperla N. Emerging therapies in mantle cell lymphoma. J Hematol Oncol. 2020;13(1):79. Published 2020 Jun 17. doi:10.1186/s13045-020-00914-1 Gu D, Tang H, Wu J, Li J, Miao Y. Targeting Bruton tyrosine kinase using non-covalent inhibitors in B cell malignancies. J Hematol Oncol. 2021;14(1):40. Published 2021 Mar 6. doi:10.1186/s13045-021-01049-7 Mukkamalla SKR, Taneja A, Malipeddi D, et al. Chronic Lymphocytic Leukemia. [Updated 2023 Feb 18]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2023 Jan. Available from: https://www.ncbi.nlm.nih.gov/books/NBK470433/ National Cancer Institute. Cancer Stat Facts: Leukemia — Chronic Lymphocytic Leukemia (CLL). https://seer.cancer.gov/statfacts/html/clyl.html Hallek M. Chronic Lymphocytic Leukemia: 2025 Update on the Epidemiology, Pathogenesis, Diagnosis, and Therapy. Am J Hematol. 2025;100(3):450-480. doi:10.1002/ajh.27546 SOURCE Eli Lilly and Company

Lennar Corp. (NYSE:LEN) shares are trading lower Friday afternoon after investigative outlet Hunterbrook Media published a short report alleging the homebuilder met quarterly targets by selling hundreds of finished homes to its own spinoff, Millrose Properties Inc. (NYSE:MRP). Benzinga reached out to Lennar for comment on the allegations but did not immediately hear back from the company.

Here’s what investors need to know.

Lennar stock is under selling pressure. Why is LEN stock trading lower? Hunterbrook Accuses Lennar of Offloading Homes to SpinoffAccording to the report, Millrose, spun off by Lennar in 2025 as an off-balance-sheet land bank, amended its agreements in late August to buy finished single-family homes and operate them as rental properties. Hunterbrook identified over 700 home purchases by Millrose totaling approximately $200 million across 15 states in roughly a month.

Notably, at least 356 of those purchases occurred in the final week of Lennar’s fiscal third quarter. Hunterbrook claims these transactions enabled Lennar to meet its quarterly delivery guidance, beating the lower bound by just 340 homes while missing its four other financial targets.

Financial Risk and Governance ConcernsHunterbrook Capital, which holds short positions in both Lennar and Millrose, highlighted severe economic inefficiencies in the arrangement. The report estimates Millrose’s net rental yield at around 5%, failing to cover its borrowing costs of 6.5% to 6.75%.

Furthermore, property records indicate Millrose paid roughly 13% more than individual retail buyers after accounting for incentives. With Lennar CEO Stuart Miller holding 43% of Millrose’s voting power, accounting experts cited in the report questioned whether Millrose is acting against its independent financial interest to bolster Lennar.

LEN Shares Drop Friday AfternoonLEN Price Action: Lennar shares were down 2.51% at $80.05 at the time of publication on Friday, according to Benzinga Pro data.

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Powering through the latter part of summer, shares of quantum computing specialist IonQ (IONQ -0.07%) climbed 7.9% in August. And that was merely the beginning. The stock maintained its upward trajectory last month as both the company reported two positive developments and an analyst shared an auspicious outlook.

According to data provided by S&P Global Market Intelligence, IonQ shares rose 11.6% in September.

Image source: Getty Images.

Several catalysts helped catapult this quantum computing stock higherOn Sept. 8, IonQ introduced its sixth-generation quantum computing platform: Superion 256. Lauding the merits of the Superion 256, Niccolo de Masi, IonQ's chairman and CEO, commented: "Superion 256 is the first quantum computer platform designed to be built by the hundreds rather than one at a time. Every generation that follows will be designed, fabricated, and packaged similarly – creating unique upgradeability in our Superion platform."

While the Superion 256 is now available for order, the company anticipates customer deliveries beginning in 2027. The new platform is already attracting customer interest, as the company reported pre-selling its first Superion 256 system in the first quarter of 2026.

Later in the month, IonQ reported taking a significant step toward developing practical, fault-tolerant quantum computers by successfully testing the quantum computing industry's first end-to-end real-time quantum error-correction decoder, which runs on a single standard off-the-shelf central processing unit.

Towards the end of the month, IonQ shares shot higher after Bank of America initiated coverage of the stock. Rating it a buy, Bank of America assigned a $60 price target. According to Thefly.com, Bank of America based its outlook on the recognition that IonQ is the leading pure-play quantum computing company by revenue and on the company's success in expanding into other niches of the quantum computing industry, including quantum networking, security, sensing, space, and foundry services.

Based on IonQ's closing price of $45.48 the previous day, Bank of America's price target implies 32% upside.

Is it too late to load up on IonQ stock?While IonQ stock rose in both August and September, it'd be a gross miscalculation to conclude that it can't continue to soar higher. Aside from the fact that shares are down more than 47% from their 52-week high, there's plenty of reason to think that IonQ stock can continue to rise in both 2026 and through 2030.

Of course, there are still risks associated with an IonQ investment, so those who are looking to reduce their risk exposure may prefer a quantum computing exchange-traded fund (ETF) that includes IonQ stock among its holdings.

Bank of America is an advertising partner of Motley Fool Money. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends IonQ. The Motley Fool has a disclosure policy.

AST SpaceMobile Today

$58.32 +1.28 (+2.25%)

As of 02:36 PM Eastern

This is a fair market value price provided by Massive. Learn more.

$49.31▼

$133.86$84.58

Investors received some long-awaited good news regarding space-based cellular broadband network provider AST SpaceMobile NASDAQ: ASTS on Sept. 30.

In a social media post that day, the company announced that a convoy carrying its next three low Earth orbit (LEO) BlueBird satellites had departed its Midland, Texas facility and was en route to Cape Canaveral, where the satellites will be prepared for deployment.

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But as the SpaceX NASDAQ: SPCX competitor continues to pursue its short-term goal of achieving 45 BlueBirds in its LEO constellation, a series of headwinds and tailwinds are at odds, which is clouding the space stock’s trajectory.

3 New BlueBirds Head to Florida With AST SpaceMobile Production Ramping UpFollowing the Aug. 5 launch of Bluebirds 11, 12, and 13, attention turned to the next cohort of BlueBirds, which was undergoing final preparations at AST SpaceMobile’s plant.

An October launch remains speculative because AST SpaceMobile has not announced an official date. The timing comes as shareholders are hoping for a bullish catalyst. ASTS closed Thursday, Oct. 1, at $57.04, leaving the stock down about 21% year to date.

The Sept. 30 update also confirmed that BlueBirds 14, 15, and 16 were being shipped to Florida in advance of AST SpaceMobile’s next launch. Perhaps more intriguing is that the company has ramped up its production through BlueBird 50, “with more than 20 spacecraft structures now being integrated as part of [its] assembly process.”

Headwinds and Tailwinds Battle for the Near-Term Future of AST SpaceMobileThe announcement comes at a time when AST SpaceMobile is dealing with as many headwinds as catalysts. In September, news broke of a securities fraud class-action lawsuit that accuses AST SpaceMobile of misleading investors about its capital needs and competitive position during a class period from March 2025 through July 2026.

The suit centers on three separate $1 billion convertible-note offerings that allegedly undercut prior assurances and preceded sharp declines in ASTS shares. The legal action adds another risk for the company following six consecutive earnings misses.

It also builds upon existing concerns about AST SpaceMobile's already elevated volatility, its high cash burn rate, launch delays, heavy insider selling, and elevated short interest.

The company isn’t without tailwinds, though. Its cash burn rate is directly attributable to its rapid scaling, which is capital-intensive and a routine growing pain for most high-growth companies. AST SpaceMobile is progressing toward its target of having 45 LEO BlueBird satellites in orbit by early 2027—a goal initially slated for late 2026.

But an Aug. 5 press release confirmed that the space-based, direct-to-device (D2D) connectivity provider is well on its way to achieving that goal, with “production advancing through BlueBird satellite 42.” By Sept. 30, the company said production had advanced through BlueBird 50.

Meanwhile, AST SpaceMobile expects D2D commercial services to begin in the first half of 2027, following its U.S. Federal Communications Commission (FCC) connectivity test. In August, the FCC granted the company a temporary 30-day permit to test its 800 MHz spectrum on unmodified devices, running through Sept. 12 and tied to its existing agreements with T-Mobile NASDAQ: TMUS.

AST SpaceMobile’s existing network of around 60 strategic partners also serves as a formidable tailwind. Alphabet NASDAQ: GOOGL maintains a multi-hundred-million-dollar stake in the company. Pacts are also in place with AT&T NYSE: T, Verizon NYSE: VZ, Tokyo-based Rakuten OTCMKTS: RKUNF, real estate investment trust American Tower NYSE: AMT, and the U.S. federal government, with roughly 3 billion subscribers among its communications service partners.

Wall Street’s Mixed Outlook Reflects AST SpaceMobile’s Highly Volatile YearSimilar to AST SpaceMobile’s performance this year, Wall Street cannot seem to make up its mind about the stock. Of the 13 analysts currently covering ASTS, fewer than half assign it a Buy rating. Overall, it receives a consensus Hold rating alongside an average 12-month price target of nearly $85.

AST SpaceMobile Stock Forecast Today12-Month Stock Price Forecast:
$84.58
45.23% Upside

Hold
Based on 14 Analyst Ratings

Current Price$58.24High Forecast$108.00Average Forecast$84.58Low Forecast$50.80AST SpaceMobile Stock Forecast Details

Another mixed signal comes from institutional activity. Over the trailing 12 months, institutional buying has outweighed selling. Inflows of $2.42 billion from 389 buyers have significantly surpassed outflows of just over $411 million from 114 sellers.

However, current short interest stands at an elevated 21.2% of the float, or $3.84 billion worth of shares, while insiders have sold nearly $452 million over the past year against $806,470 in buys.

Since hitting its all-time high on May 28, the stock has plummeted more than 55%. Meanwhile, the high-volatility stock presently carries a beta of 2.74, indicating substantially greater sensitivity to broad-market movements than the market itself.

Investors looking for a lower entry point may want to continue monitoring how the aforementioned headwinds unfold before committing. Additional downside is possible; shares have not entered oversold territory as measured by the Relative Strength Index. AST SpaceMobile is currently estimated to report Q3 earnings on Nov. 9.

Should You Invest $1,000 in AST SpaceMobile Right Now?Before you consider AST SpaceMobile, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AST SpaceMobile wasn't on the list.

While AST SpaceMobile currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

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GE Vernova's cash outlook just surged while the stock sat still, and that gap between price and reality has analysts lining up on one side of the trade.

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GE Vernova (NYSE:GEV | GEV Price Prediction) trades at $987.29, and the stock has been moving sideways since its last earnings report while management has sharply raised its cash outlook.

GE Vernova builds gas turbines, grid and electrification equipment, and wind turbines. Demand from AI data centers and utilities upgrading the grid has driven strong order growth across the business. Shares are up 51.34% year to date. They also sit 17.4% below the 52-week high of $1,195.94 and trade between the 50-day average of $968.41 and the 200-day average of $913.15.

GE Vernova’s Backlog Is Turning Into Cash at a Rapid Pace Second-quarter free cash flow came in at $5.10B. Management raised full-year free cash flow guidance to $11.5B to $12.5B, up from $6.5B to $7.5B. Bookings rose 88% organically to $24.20B, and data center orders in Electrification exceeded $5 billion in the first half (GEV is one of the clearest non-chipmaker AI infrastructure plays, and we highlighted seven of these picks-and-shovels names in a free report here).

Management expects backlog to reach $200 billion in 2027 and is targeting $56B in revenue with a 20% adjusted EBITDA margin by 2028. The cash is already reaching shareholders. The dividend doubled to $0.50 per share, and the buyback authorization grew to $10B.

Down Payments Inflate the Cash Story, and the Multiple Leaves No Margin for Error Working capital supplied $6.4 billion of cash in the quarter, mostly from customer down payments. CFO Ken Parks said first-half free cash flow will be “substantially higher than the second half.” Second-quarter EPS of $2.47 missed the $3.17 estimate.

At a forward P/E of 39 and EV/EBITDA of 81, the price assumes perfect delivery. Wind is still a drag, with an expected ~$400M EBITDA loss this year and orders down 40% in the quarter.

Second-Half Cash Flow Will Decide Whether the Range Breaks Second-half results will provide the proof. Management expects positive free cash flow in the third quarter, with revenue and EBITDA peaking in 4Q26. If slot reservations convert into orders on pace toward at least 125 GW under contract by year-end, the optimistic view holds up. If margins slip, the bears gain ground.

Analyst Targets Sit Well Above the Trading Range The stock trades at $987.29, while the average analyst target of $1,230.34 implies 24.6% upside. Sentiment across the 37 covering analysts tends positive:

Strong Buy: 6 Buy: 24 Hold: 7 Sell: 0 Over the past year GE Vernova rose 63.25%, and the S&P 500 advanced 14.3%. Over the past month the stock added 9.88%, compared with 0.3% for the index. The trailing P/E stands at 27.

Cash Flow Keeps Building While the Stock Pauses At $987.29, GE Vernova trades below the average analyst target while its cash outlook improves.

Since the last earnings report, the share price has moved sideways while the cash outlook rose sharply. Down payments flow straight into capacity, and management says those payments fund the expansion. Annual gas turbine output is set to reach 20 GW starting this quarter, which turns backlog into revenue that customers have already partly paid for.

The most important drivers over the next two quarters are positive third-quarter free cash flow and the conversion of slot reservations into orders. A sharp drop in conversions or a stall in margins would break the thesis.

Strong cash generation keeps paying for buybacks and capacity while the stock moves sideways, so this consolidation looks like a reset with the stock trading below the analyst targets.

Contact [email protected] for any questions or corrections.

Planet Labs (PL +8.15%) stock soared 7.8% through 11:40 a.m. ET Friday after confirming the successful launch, aboard a "Transporter" Falcon 9 rocket managed by Space Exploration Technologies (SPCX +6.84%), of 20 Planet Labs-built satellites to orbit.

Image source: Getty Images.

What's Planet launching now?Running down the list, Planet says the SpaceX Transport 18 rocket carried to orbit:

18 SuperDove Earth observation satellites to supplement and maintain its existing "flock" of satellites that monitor happenings down here on Earth.One Tanager-2 hyperspectral satellite equipped with "cutting-edge, adjustable sensitivity imaging spectroscopy" that can detect methane emissions, analyze water quality, and even search for rare-earth elements on Earth.And one single Project Suncatcher satellite. This final payload was developed in partnership with Planet Labs customer Alphabet (GOOG +1.74%) (GOOGL +1.63%), and is equipped with Google artificial intelligence Tensor Processing Units.Its mission: To test whether TPUs can be used for AI satellites in space.

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What it means for Planet Labs?The SuperDove satellites offer the most immediate boost to Planet Labs' business, which derives essentially all of its $300 million-plus annual revenue from selling images captured by the company's Earth-observation satellites. Tanager-2 may supplement this core business. If you ask me, though, in the long term, Project Suncatcher may have the most potential to add a significant new revenue stream for Planet Labs by building AI satellites for Google to use in orbit.

Assuming the Suncatcher sat proves that TPUs can effectively process AI inference requests in orbit, collect solar power efficiently, and shed heat effectively, this may become Planet Labs' next big area of growth.

Suncatcher won't turn Planet Labs stock profitable immediately. (Analysts polled by S&P Global Market Intelligence don't expect that to happen before 2029.) But it gives Planet Labs its best shot at becoming a growth stock eventually.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Planet Labs PBC. The Motley Fool has a disclosure policy.

A month has gone by since the last earnings report for Netskope (NTSK - Free Report) . Shares have added about 24.5% in that time frame, outperforming the S&P 500.

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

Key Highlights
• Revenue: $220.5 million in Q2 fiscal 2027, up 29% year over year, exceeding guidance.
• Non-GAAP EPS: Loss of 3 cents per share, improved from a loss of 6 cents in Q2 fiscal 2026.
• ARR: $899 million, up 27% year over year.
• Remaining Performance Obligations (RPO): $1.35 billion, up 36% year over year. • Customers with more than $100,000 in ARR: 1,686, up 23% year over year, representing 87% of total ARR.
• Net New ARR: $54 million, up 9% year over year.
• Net Revenue Retention (NRR): 114%, up from 113% in Q1 fiscal 2027.

Growth Drivers and Top-Line PerformanceRevenue accelerated to 29% growth in Q2 fiscal 2027, reaching $220.5 million and surpassing guidance. Management highlighted strong demand across all regions, with EMEA up 37%, APJ up 31%, and Americas up 25% year over year. The company noted an early, strong traction with its AI Security suite, with approximately one-third of the AI security pipeline already in or entering the proof-of-concept phase.

Net new ARR of $54 million represented 9% year-over-year growth, with management attributing the sequential sequential growth moderation to typical second-quarter billings patterns and an expected acceleration in the back half of the year. A key driver cited was the ongoing ramp of the sales organization, with roughly 50% of sales representatives still ramping or new, positioning the company for accelerated net new ARR in the second half as these representatives mature. The expanded partnership ecosystem, including strengthened alliances for implementation capacity, aims to further support pipeline expansion and deal velocity.

NRR improved to 114% in fiscal Q2, reflecting continued platform expansion and healthy customer satisfaction. Gross retention remained robust, underscoring strong unit economics and customer stickiness.

AI Security Momentum and Go-to-Market ExecutionAI Security represents the fastest pipeline build in company history for a new product category. Management emphasized that approximately one-third of AI security opportunities are in or approaching proof-of-concept phase, with significant conversion expected in the second half of the fiscal year, particularly toward fiscal Q4.

Key AI security product launches and momentum drivers include the Agentic Broker—which provides visibility into shadow AI usage and agentic traffic enforcement—and AI Guardrails, which ensures models adhere to acceptable use policies by examining every prompt and response. The AI Command Center, released in Q1 and gaining traction, serves as the central governance point for all agentic use. Additional products and features include AI Gateway (for east-west traffic management), transaction-based pricing models aligned with usage, and outcome-based pricing for solutions like the DLP SecOps agent.

The company also announced integration of post-quantum cryptography capabilities using lattice-based encryption across its global NewEdge network, providing customers future-proofing against quantum computing threats and supporting regulatory mandates. Management noted this quantum-ready posture is driving win rates above 80% in proof-of-concept engagements.

Indirect channels remain the primary revenue source, with partners representing the vast majority of go-to-market execution. Roughly 50% of the sales force is new or still ramping, which is expected to deliver material acceleration in net new ARR in the second half of the year, particularly as representatives in EMEA and APJ progress through their ramp cycle and leadership investments in North America mature.

Profitability and Operating TrendsNon-GAAP gross margin reached 77%, up approximately 2 percentage points year over year, aided by NewEdge scale and platform efficiency gains. Non-GAAP operating margin improved significantly to (9)% from (20)% a year ago, reflecting meaningful operating leverage despite continued investment in R&D and field capacity expansion. This 11 percentage point improvement demonstrates the company's ability to scale profitably even while investing in growth.

GAAP loss from operations widened to $89.8 million with a (41)% margin, reflecting IPO-related stock-based compensation and intangible amortization charges not present in the non-GAAP measures. GAAP cost of revenue benefited from lower intangible amortization, though higher network and colocation expenses partially offset some gains.

Customer Metrics and Platform AdoptionEnterprise adoption continues to broaden across the Netskope One platform. Customers with more than $100,000 in ARR grew 23% to 1,686, now representing 87% of total ARR. This concentrated base of high-value customers underscores the company's ability to deepen relationships with enterprise accounts and demonstrates the value proposition of its differentiated platform.

The company is seeing accelerating cross-sell momentum as customers expand their use of multiple Netskope products. Fifty-nine percent of customers now use four or more Netskope One products, up from 51% a year earlier—a notable expansion from the base. Furthermore, 41% of customers use five or more products, up from 35% a year earlier. This trend of broadening product adoption across the customer base reflects both the robustness of the Netskope One platform and customers' growing recognition of the value in consolidating multiple security functions within a single vendor.

These customer metrics, combined with 114% NRR and the strong traction of new AI Security offerings, support management's narrative of platform stickiness and the significant remaining upsell opportunity across a more-than-25-product portfolio. As enterprises continue to evaluate and adopt additional modules within Netskope's suite, particularly as AI Security capabilities mature and move from proof-of-concept to production deployment, the company remains well-positioned to capture additional wallet share from its installed base.

Balance Sheet and Cash FlowQ2 fiscal 2027 operating cash flow was negative $16.5 million compared with negative $53.9 million in Q1 fiscal 2027, reflecting improvement in cash collection patterns. Negative free cash flow was $29.8 million with approximately a (13)% margin, compared with negative $57.2 million and (28)% margin in Q1 fiscal 2027.

Management characterized the Q1 result as the low watermark of the transition to annual billings, which defers collections but increases visibility into future revenue and cash flows. The company expects to be through the billing transition by mid-fiscal 2028.

Cash, cash equivalents, and marketable securities totaled approximately $1.1 billion. Deferred revenues totaled approximately $659 million, while remaining performance obligations (RPO) exceeded $1.35 billion, with approximately 54% expected to be recognized within the next 12 months. Capital expenditures as a percentage of revenue are expected to be in the range of 4-5%, consistent with infrastructure investment in the NewEdge network to support demand.

Guidance and Management CommentaryFor the third quarter of fiscal 2027, management provided guidance for revenue in the range of $227–$229 million, representing approximately 24% growth year over year. The company projects a non-GAAP operating margin of approximately (8)% and non-GAAP net loss per share of 3 cents to 4 cents on approximately 415 million weighted average shares outstanding.

For the full fiscal year 2027, the company has raised its guidance, reflecting strong momentum and confidence in the durability of demand. Netskope now expects revenue in the range of $888–$892 million, representing approximately 26% growth, compared with prior guidance of $879–$883 million for 24%-25% growth. The company affirmed non-GAAP gross margin of approximately 77% and guided to non-GAAP operating margin of approximately (9)%. Non-GAAP net loss per share is expected at 15 cents per share on approximately 415 million weighted average shares outstanding, with free cash flow margin projected at approximately 2%. Management raised its full-year revenue guidance by more than the fiscal Q2 revenue beat, demonstrating elevated confidence in the trajectory ahead.

Management expects ARR growth to remain within approximately one point of revenue growth throughout the fiscal year. The company continues to call for a material acceleration in the back half of fiscal 2027, driven primarily by sales force maturation, particularly as representatives in EMEA and APJ complete their ramp cycles and newer leadership investments in North America gain full traction. AI Security ramp and the conversion of the company's strongest historical pipeline into closed business is expected to be a significant contributor to second-half performance, with meaningful closings anticipated in Q4 as prospects advance through their evaluation cycles.

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

VGM ScoresAt this time, Netskope has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. However, the stock was allocated a score of F on the value side, putting it in the bottom 20% quintile for this investment strategy.

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

Outlook Netskope has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerNetskope belongs to the Zacks Internet - Software industry. Another stock from the same industry, Rubrik, Inc. (RBRK - Free Report) , has gained 25.2% over the past month. More than a month has passed since the company reported results for the quarter ended July 2026.

Rubrik, Inc. reported revenues of $427.26 million in the last reported quarter, representing a year-over-year change of +37.9%. EPS of $0.20 for the same period compares with -$0.03 a year ago.

Rubrik, Inc. is expected to post earnings of $0.09 per share for the current quarter, representing a year-over-year change of -10%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.4%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Rubrik, Inc.. Also, the stock has a VGM Score of C.

One of the largest Dutch eyewear retail chains said on Friday it had suspended sales of Meta's (META.O) Ray-Ban smart glasses in the Netherlands ​and Belgium amid growing privacy concerns, in one of the first such ‌moves by a retailer.

"This decision follows the ongoing public and political debate surrounding smart glasses and the questions being raised about the conditions under which this technology can be used," ​a spokesperson for the Hans Anders chain said.

A growing Dutch outcry over ​the glasses mirrors a broader backlash against smart glasses equipped with ⁠cameras.

In Britain, pub chain Wetherspoon has restricted use of Meta's glasses over concerns ​about covert recording, while Meta and Luxottica face a US suit alleging videos captured ​by the glasses were viewed by human annotators without the knowledge of people filmed.

A Meta spokesperson said the company is continuing to develop the popular glasses. "Every pair with a camera ​has a bright light on the front that blinks when you take a ​photo or video — it can't be turned off, and the camera is disabled if someone covers ‌or ⁠tampers with it," they said.

In the Netherlands, privacy regulator AP last month warned that videos made with smart glasses showing identifiable people cannot generally be shared or published without their permission, which would be difficult to obtain in a public ​place.

Consumer rights group ​Consumentenbond this week ⁠said it would take Meta to court unless the company changes the glasses to comply with privacy law.

Offlimits, a group ​that combats online abuse, on Friday also urged Meta and Ray-Ban owner ​EssilorLuxottica (ESLX.PA) to ⁠voluntarily remove the glasses from sale until a way can be found to make surreptitious recordings impossible.

EssilorLuxottica could not immediately be reached for comment.

Hans Anders is a subsidiary ⁠of ​Nexeye, which is owned by private equity firm ​KKR (KKR.N). Nexeye operates 776 stores across the Netherlands, Belgium, Germany, Austria and Sweden. It does not sell ​the glasses in the latter three countries.

Microsoft MSFT , the cloud, productivity and enterprise-AI company, launched MAI-Transcribe-2-Streaming alongside MAI-Voice-2.1 and its faster Flash variant, with shares up approximately 0.54% to $515.57 at 10.05am ET on October 2. The push gives developers more of the pieces needed to build voice agents inside Microsoft's ecosystem. Hearing a customer and answering back could mean two opportunities to capture spending.

Artificial Analysis ranked the streaming model first among 38 systems, measuring a 2.5% word-error rate and a final transcript delivered 0.13 seconds after speech ended. As explainx.ai noted, the accuracy result deserves attention. But a benchmark win does not establish customer adoption or performance in busy contact centers. Fast transcripts open the door. Reliable service keeps customers inside.

Microsoft offers all three models through Foundry, creating a potential route from voice applications to additional Azure usage. The valuation picture puts shares 12.52% below the $589.33 GF Value™ estimate, suggesting potential upside rather than guaranteeing it. The commercial hurdle is straightforward: turn strong model scores into recurring workloads while keeping inference costs under control. More conversations help only if the economics hold up.

powered by

AMD (buy)

Buy AMD. The stock is getting a double tailwind: easier Fed expectations lift tech multiples, and AMD is locking in AI infrastructure demand with HPE’s $1.2B Vultr order for Helios racks (MI455X + EPYC + Pensando networking). The World Labs acquisition adds a credible pipeline for next-gen 3D/spatial AI research that can steer future chip and platform requirements.

Key Risk: AI rack orders slow or get delayed, showing AMD can’t convert AI interest into sustained revenue growth.

HPE (buy)

Buy Hewlett Packard Enterprise. The $1.2B AMD Helios rack order is a direct validation that HPE is winning AI infrastructure deployments tied to AMD’s GPU/CPU/network stack. If AMD’s AI infrastructure push accelerates, HPE should see follow-on rack, cooling, and scale-up software demand.

Key Risk: HPE’s AI infrastructure demand weakens or customers standardize on competitors’ rack architectures, cutting incremental orders.

AMD stock gained 3% on Friday as technology shares rallied following weaker-than-expected US employment data that reduced expectations for another Federal Reserve interest-rate hike.

The US economy added 29,000 jobs in September, the nonfarm payrolls report showed, while the unemployment rate rose to 4.2%.

The Dow Jones consensus had expected payrolls to increase by 84,000, with unemployment remaining at 4.1%.

The softer labour market data pushed Treasury yields lower. The 10-year Treasury yield fell one basis point to 5.25%, while the two-year yield was flat after initially declining following the employment report.

The data strengthened expectations that the Federal Reserve could leave interest rates unchanged at its October meeting, supporting demand for technology stocks.

AMD's gains also come as the company expands its presence in AI infrastructure through new customer deployments and its planned acquisition of artificial intelligence startup World Labs.

Hewlett Packard Enterprise announced on Wednesday that Vultr had placed a $1.2 billion order to deploy AMD's Helios AI rack architecture.

Each integrated rack combines 72 AMD Instinct MI455X GPUs with AMD EPYC processors and Pensando Vulcano AI network interface cards.

The systems also use HPE's direct liquid cooling technology and scale-up switching software.

The order highlights AMD's push to supply complete AI infrastructure as demand for computing capacity expands.

AMD's AI business has increasingly focused on products designed for large-scale computing workloads.

The Helios architecture brings together AMD's GPUs, processors and networking technology in an integrated rack system.

AMD announced on Tuesday that it had agreed to acquire World Labs for $8.2 billion in an all-stock transaction.

World Labs is an AI startup focused on spatial intelligence and three-dimensional world models.

Under the transaction, its founder and AI researcher Fei-Fei Li will join AMD as executive vice president and chief scientist, reporting directly to CEO Lisa Su.

World Labs develops AI models capable of creating and simulating three-dimensional environments.

Earlier this year, Li and Su demonstrated the company's Marble model, which can generate a 3D scene from a small number of images.

AMD said the technology could have applications in robotics and other physically grounded AI systems.

The company also expects World Labs' research to help it anticipate the requirements of future AI models and guide processor development.

World Labs will remain separate from AMD's chipmaking business until the transaction closes later this year.

The $8.2 billion deal would be AMD's second-largest acquisition, behind its approximately $50 billion purchase of Xilinx in 2022.

According to WSJ data, analysts currently have a consensus overweight rating on AMD.

Forty-seven analysts have an overweight or buy rating, while ten have a hold rating, with no sell ratings listed.

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Nvidia CEO Jensen Huang at the White House. Prosecutors charged a California man with helping to smuggle $300 million worth of Nvidia chips to China. Bloomberg/Getty Images A California man is facing federal charges for helping smuggle over $300 million worth of Nvidia semiconductor chips into China, prosecutors said this week.

Yiu Kong Lui, 38, of San Gabriel, Cali., was arrested on Thursday and is set to be arraigned in federal court and charged with violating export controls, smuggling, and money laundering, court records show.

It is illegal to export advanced semiconductor chips into China without a license, as the US competes with the East Asian giant in the AI race.

President Donald Trump drew criticism last year for allowing Nvidia to sell its chips to China, a departure from the previous US policy under President Joe Biden, which effectively blocked all exports of advanced chips to China.

Nvidia's chips are especially sought after for use in AI data centers because they can perform multiple calculations simultaneously, and because the company's software stack is widely compatible.

In a press release, US officials said Liu put US national security at risk by smuggling the chips.

"Controlling the export of advanced SI technology is critical to safeguarding our national security and defending the homeland, and the FBI will keep fighting for America's businesses and economic security," said Roman Rozhavsky, an assistant director of the FBI's counterintelligence and espionage division.

It was not immediately clear on Friday whether Liu was being represented by an attorney. According to court records, Lui has not yet pleaded guilty or not guilty to the charges.

In a 22-page indictment, prosecutors said Liu worked with several co-conspirators who operated shell companies to first get the chips to either Malaysia or Singapore, and then into China.

Prosecutors said a company owned by Liu served as a go-between for foreign shipping companies and US chip manufacturers, and that Liu lied to US companies, claiming the chips wouldn't end up in China.

The operation began in 2023 and continued until August, according to the indictment. Liu's company was paid over $180 million by Malaysian shipping companies to broker the chip deals, prosecutors said.

If convicted of all charges, Liu could serve a combined 50 years in prison.

"This case shows yet again that smuggling is a losing proposition — legally, economically and technically," an Nvidia spokesperson said in a statement. "Our work with law enforcement has led to prosecutions, and we will continue to engage with law enforcement."

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Truman Dickerson You're currently following this author! Click to unsubscribe from email alerts.

Truman Dickerson is the Weekend News Fellow at Business Insider, based in New York City. He covers trending tech and business news. He previously reported for The Boston Globe's Express Desk. He graduated from Boston University, where he served as editor in chief of The Daily Free Press, BU's student-run newspaper.Contact him at [email protected]

Donald Trump

Stellantis shares are taking the steepest hit among the Detroit Three after its latest U.S. sales report revealed a split inside the brand lineup that left the overall total going nowhere.

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

A flat U.S. sales quarter has put fresh scrutiny on the weaker side of the brand mix at Stellantis (NYSE:STLA | STLA Price Prediction), and shares of the automaker are taking the biggest selloff among the Detroit Three. Stellantis stock is down 7% to $4.37 in afternoon trading. That decline comes on the heels of a release in which the company’s U.S. sales total showed no growth at all, even with one of its brands posting a strong gain.

Meanwhile, Ford Motor (NYSE:F) shares are down 2% to $12.02, a far smaller decline that still follows the direction of the Stellantis move. General Motors (NYSE:GM) stock is slipping 0.8% to $78.69, the smallest drop among the three carmakers.

Selling in shares of Stellantis and its Detroit rivals runs counter to the sector fund’s direction. At the same time, the Consumer Discretionary Select Sector SPDR ETF (NYSEARCA:XLY) is up 1% to $110. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.7% to $769.35, giving the broad market a firm footing as carmakers lag.

Ram Gains Sit Against a Larger Jeep Decline Stellantis released its U.S. sales for the third quarter of 2026 on October 1, and the total came in essentially unchanged from the year-earlier period. Inside that flat figure, Stellantis reported a 29% rise in Ram brand sales and a 20% drop at Jeep. Jeep sells more vehicles than Ram, so the larger percentage decline landed on the bigger of the two brands at Stellantis.

Also on October 1, Stellantis confirmed that it will pause its production at four French plants during October. The company cited a shortage of long-range electric vehicle (EV) batteries and slower demand for some models. Stellantis described the pause as a temporary adjustment to keep its output aligned with demand.

Ford and GM Trail the Stellantis Slide Ford and GM shares are trading lower as well, yet both declines are far smaller than the drop in Stellantis stock, which keeps most of the pressure concentrated on one automaker. Of the two Detroit rivals, Ford shares are showing the larger decline, and GM stock is holding up best among the three carmakers. Both Ford and GM compete with Ram and Jeep in U.S. pickups and sport utility vehicles, which ties their shares to any read on demand from a Stellantis sales release.

Tesla (NASDAQ:TSLA) sits in the same auto manufacturers industry as the three legacy carmakers and serves as the EV benchmark for the group. The XLY ETF counts Tesla among its biggest positions, and Ford and GM carry much smaller weights alongside e-commerce, home improvement, restaurant and travel names. That mix helps explain how XLY can rise as two of its automaker holdings fall.

What to Watch Next Stellantis enters the coming months with a strong pickup brand and a bigger, weaker sport utility brand pulling its U.S. total in opposite directions. Investors should watch whether Jeep volume steadies and Ram momentum holds through the next quarterly sales release. How long the French production pause lasts is the other open question for Stellantis, which framed the stoppage as temporary.

The Ram gain gives Stellantis a genuine bright spot, though a 20% Jeep decline on the bigger brand leaves the bull case resting on one franchise. Investors weighing their exposure should size their share positions carefully, considering the flat U.S. sales total at Stellantis and the separate battery strain in France.

Contact [email protected] for any questions or corrections.

Shares of Moderna, Inc. (NASDAQ:MRNA – Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $203.46, but opened at $186.55. Moderna shares last traded at $190.8560, with a volume of 6,389,386 shares.

Moderna News Summary Here are the key news stories impacting Moderna this week:

Positive Sentiment: Investor interest remains strong in Moderna’s oncology program. Positive results and expectations for detailed Phase 3 melanoma data at next month’s ESMO meeting continue to support the view that the cancer-vaccine pipeline could become a major growth driver. Is A Cancer Vaccine Coming? Positive Sentiment: Moderna appointed Juan Andres as chief operating officer, adding leadership capacity as it prepares for the potential launch and commercial scale-up of intismeran autogene and expands its oncology portfolio. Moderna Adds Chief Operating Officer Role Neutral Sentiment: Buyers stepped in after the initial selloff, indicating that some investors continue to prioritize Moderna’s cancer-vaccine opportunity over valuation concerns. The company’s respiratory-vaccine expansion and oncology results also provide potential longer-term growth as COVID-19 demand normalizes. Moderna Climbs Despite Citigroup Downgrade Negative Sentiment: Citigroup downgraded Moderna to Sell from Hold, arguing that the stock’s outsized 2026 rally has priced in unrealistic expectations for future cancer-drug sales. Citi raised its price target to $80 from $60, but the target remains substantially below the current trading level, underscoring the valuation risk. Moderna Stock Has Run Too Far, Too Fast Negative Sentiment: The downgrade highlights uncertainty over whether early oncology data can translate into commercially significant sales. After the sharp run-up, profit-taking and skepticism about execution, launch timing, and Moderna’s still-negative earnings profile are weighing on sentiment. Moderna Stock Slumps as Citi Says It’s Time to Sell Analyst Ratings Changes Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein reiterated a “market perform” rating on shares of Moderna in a report on Friday, September 25th. Loop Capital set a $135.00 price objective on Moderna in a report on Wednesday, August 19th. Bradesco Corretora raised shares of Moderna to an “outperform” rating in a research report on Friday, August 28th. Singular Research raised shares of Moderna to a “hold” rating in a research report on Wednesday, September 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Moderna in a research note on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.83.

Check Out Our Latest Stock Report on Moderna Moderna Trading Down 1.9% The company has a fifty day simple moving average of $122.75 and a two-hundred day simple moving average of $78.93. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18. The company has a market capitalization of $75.43 billion, a P/E ratio of -23.65 and a beta of 1.09.

Moderna (NASDAQ:MRNA – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.06. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $102.93 million. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.13) earnings per share. On average, analysts forecast that Moderna, Inc. will post -6.09 earnings per share for the current fiscal year.

Insider Buying and Selling In other Moderna news, President Stephen Hoge sold 40,281 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $146.07, for a total transaction of $5,883,845.67. Following the transaction, the president owned 1,562,029 shares in the company, valued at $228,165,576.03. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Klinger sold 3,471 shares of Moderna stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total transaction of $485,766.45. Following the completion of the transaction, the insider directly owned 74,129 shares in the company, valued at approximately $10,374,353.55. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 118,882 shares of company stock worth $16,862,280. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Moderna during the 2nd quarter worth $2,142,877,000. Capital World Investors acquired a new stake in shares of Moderna in the fourth quarter valued at about $378,299,000. Theleme Partners LLP acquired a new stake in shares of Moderna in the second quarter valued at about $564,272,000. Norges Bank bought a new position in shares of Moderna in the fourth quarter worth about $79,707,000. Finally, Wellington Management Group LLP increased its stake in shares of Moderna by 4.4% in the second quarter. Wellington Management Group LLP now owns 2,461,574 shares of the company’s stock worth $172,384,000 after purchasing an additional 103,977 shares during the period. 75.33% of the stock is currently owned by institutional investors and hedge funds.

Moderna Company Profile (Get Free Report)

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can help prevent or treat disease, supporting the company’s work across infectious diseases, immuno-oncology, rare diseases, autoimmune conditions, and cardiovascular diseases.

Moderna’s commercial products include Spikevax, an mRNA vaccine for COVID-19, and mRESVIA, an mRNA vaccine for respiratory syncytial virus (RSV) in older adults.

Further Reading Five stocks we like better than Moderna Everyone in AI Is Quietly Copying Palantir’s Playbook Advanced Micro Devices Is Spending $8.2 Billion to Learn What AI Needs Next JPMorgan Bets on Genius Sports as the Market Loses Patience Apple’s $5.7 Billion Patent Verdict Raises a Bigger Royalty Question Receive News & Ratings for Moderna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moderna and related companies with MarketBeat.com's FREE daily email newsletter.

Key Takeaways Chevron's LNG portfolio spans Australia, Asia Pacific, the Eastern Mediterranean and West Africa.Gorgon and Wheatstone supply about 40% of Western Australia's domestic gas and 9.5M tons to Japan.Chevron's U.S. Gulf Coast LNG offtake capacity has risen to 7M tons annually, with some volumes from 2026. Chevron Corporation (CVX - Free Report) is building its natural-gas strategy around a broad network rather than a single growth market. In Australia, the company operates the Gorgon and Wheatstone LNG projects, with most of Chevron’s share of LNG production from those assets sold under long-term contracts. Gorgon and Wheatstone account for about 9.5 million tons per year of annual LNG contract volumes into Japan. The portfolio also extends across Asia Pacific, the Eastern Mediterranean and West Africa, giving Chevron several supply points, customer markets and avenues for long-term gas commercialization.

Australia remains a major anchor for Chevron’s gas business, but the assets serve more than export demand. Gorgon and Wheatstone together supply about 40% of Western Australia’s domestic gas. A new agreement with Alinta Energy covers 46 petajoules of gas over five years beginning in July 2027, sourced from Chevron’s interests in Gorgon, Wheatstone and the North West Shelf. This combination of LNG exports and domestic sales gives Chevron multiple routes to monetize production while supporting long-duration customer relationships across power, industry and household demand.

Chevron is also widening its LNG reach through the U.S. Gulf Coast, where long-term purchase agreements have lifted contracted LNG offtake capacity to 7 million tons annually, with some volumes scheduled to begin in 2026. The company also approved an expansion of the Leviathan gas project offshore Israel in January 2026, adding another potential source of regional supply. With exposure across production, liquefaction, shipping, pipelines, marketing and trading, Chevron is positioning natural gas as an important part of its long-term global growth strategy.

This growing emphasis on natural gas is not limited to one major energy player. Across the industry, LNG is increasingly being viewed as a long-term growth avenue, supported by expectations for rising demand from power generation, industrial use and global trade

Natural Gas Strategies Across Industry PeersExxonMobil Holdings (XOM - Free Report) also sees gas as a long-duration growth area. ExxonMobil expects global natural-gas demand to reach about 520 billion cubic feet per day by 2050, roughly 20% above current levels, with oil and gas together still supplying more than half of global energy needs. LNG remains among ExxonMobil’s advantaged businesses, supporting investment in projects that can serve rising electricity and industrial demand.

Shell plc (SHEL - Free Report) is leaning further into LNG as a core growth business. Shell expects global LNG demand to rise about 65% by 2050 and is targeting LNG sales growth of 4-5% annually through 2030. Shell also approved LNG Canada Phase 2 in September 2026, which is designed to double site capacity to 28 mtpa and provide Shell with nearly 6 mtpa of additional LNG.

Franco-Nevada Corporation (NYSE:FNV – Get Free Report) (TSE:FNV)’s stock price dropped 8.4% during trading on Wednesday. The stock traded as low as $242.90 and last traded at $227.0930. 256,041 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 836,413 shares. The stock had previously closed at $247.94.

Key Stories Impacting Franco-Nevada Here are the key news stories impacting Franco-Nevada this week:

Positive Sentiment: Cobre Panamá may have a structured path forward. Jefferies said a Panamanian ministerial commission’s recommendation to restart the First Quantum-operated mine—ultimately to enable an orderly closure—suggests Franco-Nevada’s streaming interests may be on firmer footing than recent headlines imply. A restart could help facilitate future deliveries and improve visibility around the asset. Franco-Nevada sees structured path forward for Cobre Panama, Jefferies says Positive Sentiment: Production trends continue to support 2026 guidance. Franco-Nevada’s stronger second-half production outlook, improved performance from several assets and potential Cobre Panamá deliveries are viewed as supportive of its 2026 gold-equivalent-ounce sales guidance. Can Higher H2 Production Support Franco-Nevada’s 2026 Guidance? Neutral Sentiment: No major new catalyst emerged from the company’s Mining Forum Americas presentation. The presentation provided investor context but did not appear to materially change the near-term earnings outlook. Franco-Nevada Corporation Presents at Mining Forum Americas 2026 Negative Sentiment: Broad precious-metals weakness is weighing on FNV. Gold and silver prices have declined sharply, prompting a pullback in mining and royalty stocks. Because Franco-Nevada generates substantial revenue from gold-linked assets, its shares remain sensitive to bullion prices and sector risk sentiment even when operating fundamentals are stable. The lack of an immediate company-specific catalyst may be amplifying that pressure. Franco-Nevada Falls as Gold-Linked Names Weaken and No New Company Catalyst Emerges Wall Street Analysts Forecast Growth Several equities analysts have commented on FNV shares. UBS Group lowered their price objective on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Jefferies Financial Group reduced their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Scotiabank lowered their price objective on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franco-Nevada in a report on Friday, September 4th. Finally, Royal Bank Of Canada increased their target price on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $274.90.

View Our Latest Stock Report on FNV Franco-Nevada Stock Down 0.9% The stock has a market cap of $45.50 billion, a PE ratio of 30.84, a PEG ratio of 2.19 and a beta of 0.36. The stock’s fifty day moving average price is $248.59 and its 200 day moving average price is $235.88.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Franco-Nevada’s revenue was up 57.3% on a year-over-year basis. On average, equities research analysts expect that Franco-Nevada Corporation will post 7.54 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 10th. Franco-Nevada’s dividend payout ratio is presently 23.01%.

Institutional Investors Weigh In On Franco-Nevada Several large investors have recently bought and sold shares of the business. Silicon Valley Capital Partners bought a new position in Franco-Nevada during the 2nd quarter valued at about $31,000. Ascentis Independent Advisors purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $39,000. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada during the second quarter valued at approximately $33,000. Global Retirement Partners LLC bought a new position in Franco-Nevada during the second quarter valued at approximately $35,000. Finally, Dunhill Financial LLC purchased a new stake in Franco-Nevada in the second quarter worth approximately $36,000. 77.06% of the stock is currently owned by institutional investors.

About Franco-Nevada (Get Free Report)

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.

See Also Five stocks we like better than Franco-Nevada Everyone in AI Is Quietly Copying Palantir’s Playbook Advanced Micro Devices Is Spending $8.2 Billion to Learn What AI Needs Next JPMorgan Bets on Genius Sports as the Market Loses Patience Apple’s $5.7 Billion Patent Verdict Raises a Bigger Royalty Question Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.

First Solar fired the opening salvo in a legal battle brewing in the solar energy industry. The Phoenix-based maker of solar panels sued a Corning (GLW) subsidiary, American Panel Solutions, as well as Chinese rival JA Solar over patent infringement, the company said late Thursday.

The dispute revolves around alleged improper use of the solar energy company's patents for a more effective type of solar panel known as TOPCon crystalline silicon photovoltaic solar cells, according to the lawsuit filed in a Delaware district court.

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First Solar (FSLR) stock rose more than 2% on Friday, according to MarketSurge. FSLR was on a hot streak in the first half of the year. However, shares have had a hard go of it since then, falling 45% from their all-time high of 320.95 in early June.

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First Solar Telegraphed Lawsuit
Last month, the company telegraphed that a lawsuit was on the way when it withdrew a complaint it filed with the U.S. International Trade Commission in favor of pursuing litigation in federal court.

TOPCon solar cells convert sunlight into electricity more efficiently by utilizing an ultrathin protective barrier layer that prevents harvested energy from leaking away. First Solar alleges JA Solar and American Panel Solutions manufactured the TOPCon solar cells using methods that were protected by its patent rights.

"We have been clear that we will actively defend our intellectual property rights in the U.S. and internationally," First Solar general counsel Jason Dymbort said in a statement. "This lawsuit is an effort to hold JA Solar and AMPS accountable for their unauthorized use of First Solar's patented technology and reinforces the need for TOPCon manufacturers operating in the United States to respect the well-defined framework of intellectual property law."

First Solar acquired the TOPCon patents when it bought the startup TetraSun in 2013. The portfolio includes patents issued in a host of different countries including the U.S., China, the EU, Japan and the United Arab Emirates, among others.

JA Solar, based in Beijing, is one of the largest solar panel manufacturers in the world. China dominates the industry, producing more than 80% of the world's solar panels, according to the International Energy Agency.

In 2025, JA Solar sold Corning a solar cell factory in Arizona for about $225 million. The solar panels produced at the factory use the manufacturing methods that First Solar alleges are covered by its patents.

First Solar said it is also pursuing claims against Canadian Solar, T1 Energy, and the Chinese producers Jinko Solar and Trina Solar.

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Jim Cramer and Michael Burry rarely agree on anything, but their clash over Micron has turned into a very public, very high-stakes argument about whether the AI bubble pops before June 2027.

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Two of the most-watched names in retail investing are on opposite sides of Micron Technology (NASDAQ:MU | MU Price Prediction) this week. Michael Burry told readers on September 28, 2026 that put options had replaced his short positions. His Micron puts expire in June 2027 at a strike of roughly $500. Jim Cramer took the other side on two straight nights. He said anyone shorting Micron ahead of an aggressive December buyback is “digging their own grave.” Cramer did not name Burry.

What Burry Needs From Here A put gains value when a stock falls below its strike price. Micron trades near $1,097.20, so Burry’s position needs the stock to lose about half its value by expiration. Burry wrote that “the bubble in AI may burst sooner than later” and added, “I am moving timelines up. As such, I want more leverage.” Options traders are leaning his way on that expiry. The put/call ratio for the June 17, 2027 contracts stands at 4.21, compared with 0.63 across the full chain.

Cramer’s Lunch With Micron’s CEO On CNBC on October 2, Cramer described a lunch where he told CEO Sanjay Mehrotra that Micron is “no longer a cyclical company” and is now “a secular growth company.” According to Cramer, Mehrotra said that “with the six multiple, it doesn’t make sense.” Micron trades at about 7 times forward earnings, with an analyst target of $1,533.80.

Results That Make Shorting Expensive Micron’s fiscal fourth-quarter earnings release showed revenue of $54.23 billion against estimates of $50.97 billion. Non-GAAP EPS of $33.42 beat the $31.35 estimate and was up 1,002% year over year. Gross margin reached 87.0%, compared with 45.7% a year earlier. For fiscal Q1, management guided to $61.5 billion ± $1.5 billion in revenue and $38.15 ± $1.00 in EPS.

The secular argument rests on contracts. Micron now has 26 strategic customer agreements, up from 16 in August. More than 75% of 2027 output is already committed, and remaining performance obligations total about $150 billion. CFO Mark Murphy said, “Even at floor prices, we expect margins meaningfully above any prior cycle peak margins.” Mehrotra added, “We do not have line of sight to when supply and demand will return to balance.”

December Buyback Cramer Calls the Trap Door Micron plans to step up capital returns starting December 9, 2026, the second anniversary of its CHIPS agreements. The company intends to return 100% of excess cash over time, mainly through buybacks. It ended the quarter with $68.3 billion in net cash, while the current authorization is only $2.2 billion, so management expects to seek more soon. Fiscal 2026 buybacks totaled $650 million. Filings and updates are posted on Micron’s investor relations site.

Why Cramer Points to Nucor Cramer said Nucor Corporation (NYSE:NUE) is the only company he has seen make a similar shift, moving from cyclical steel to diversified brands and gaining a higher valuation. Nucor is up 80.07% over the past year and down 4.11% over the past month. It shipped a record 7.1 million tons from its steel mills in Q2, and management named data centers as a multi-year source of demand.

What Investors Should Track Micron is up 503.34% over the past year and 284.67% year to date, the kind of run that gets dissected in our free playbook on spotting the next Nvidia-scale winner early. Even so, the stock’s reaction to the report was muted, as headlines focused on chip cycle and margin worries. The fiscal Q1 gross margin guide of approximately 86.25% is slightly below Q4, though management called Q1 the floor for fiscal 2027. Keep an eye on the size of the new buyback authorization and on HBM pricing for 2027. Burry’s case depends on that pricing breaking down before June.

Data Sources CNBC, October 2, 2026: Cramer’s lunch with Mehrotra, his secular growth framing and the Nucor comparison. Same source: the December buyback date Cramer cited. Contact [email protected] for any questions or corrections.

SummaryMicron Technology, Inc. has realized outsized gains driven by an unprecedented memory price boom, but I maintain a sell rating due to rising volatility and cyclical risks.MU’s recent results beat expectations with 379% YoY revenue growth, yet the majority of gains stem from memory price increases, not sustainable volume expansion.I see clear signals of memory price deceleration into 2027, with consensus expecting a peak followed by a sharp decline, challenging MU’s forward growth and margin trajectory.Despite attractive PEG and scale advantages, I prefer to rotate out of MU stock, as its risk/reward skews negative amid maturing cycle dynamics and looming guidance headwinds. ismagilov/iStock via Getty Images

I am still out of Micron Technology, Inc. (MU) after a Sell rating at the end of June, when I wanted to explain the replaceable role of the company's key product: memory. Since then, the stock first

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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.

It has been about a month since the last earnings report for Broadcom Inc. (AVGO - Free Report) . Shares have lost about 3.8% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Broadcom Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

AVGO Q3 Earnings Beat Estimates, Revenues Rise on Strong AI DemandBroadcom reported third-quarter fiscal 2026 non-GAAP earnings of $3.32 per share, up 96.4% year over year and 3.11% above the Zacks Consensus Estimate.

Revenues surged 85.5% year over year to $29.59 billion and beat the consensus mark by 0.41%. Strong custom AI accelerator and networking demand drove the quarterly results. AI semiconductor revenues jumped 221% year over year to $16.7 billion.

AVGO’s AI Semiconductor Growth AcceleratesAI semiconductor revenues represented 56% of total revenues. XPU shipments increased more than 3.5 times year over year and accounted for 73% of AI revenues, while AI networking revenues rose more than 2.5 times.

Broadcom shipped Ironwood TPU v7 in high volume to Anthropic and Google, began production shipments of Google’s next-generation TPU v8i and shipped OpenAI’s first-generation Jalapeno custom accelerator. AVGO expects Meta’s MTIA accelerator to enter production shipments in the fourth quarter.

Semiconductor Solutions revenues surged 127% year over year to a record $20.84 billion and represented 70% of total revenues. Non-AI semiconductor revenues were $4.2 billion, up 5% year over year and flat sequentially.

The segment's operating margin rose 440 basis points (bps) year over year to 61% as revenue growth outpaced operating expense growth. Broadcom continues to invest in research and development while expanding capacity for substrates and optical components to support semiconductor demand.

AVGO's Software Business Extends GrowthInfrastructure Software revenues increased 29% year over year to $8.75 billion and contributed 30% of total revenues. Annualized recurring revenue (ARR) grew 15% year over year.

Software operating margin expanded 650 bps year over year to roughly 84%.

Broadcom also introduced VMware Private AI Cloud, aimed at letting enterprises run AI alongside existing applications while maintaining security, compliance and control over data.

Broadcom Expands Operating ProfitabilityNon-GAAP gross margin was $22.19 billion, translating to a 75% gross margin. The margin declined 210 bps sequentially as AI semiconductor revenues became a larger part of the sales mix.

Non-GAAP operating expenses were $2.1 billion compared with $2.04 billion a year earlier.

Non-GAAP operating income increased 92% year over year to $20.1 billion, while the operating margin reached 67.9%, reflecting operating leverage from the sharp revenue increase.

AVGO Generates Record Free Cash FlowThe company ended the quarter with $24 billion in cash and cash equivalents.

Broadcom generated $14.20 billion in cash from operations and spent $532 million on capital expenditures. Free cash flow reached a record $13.67 billion, equal to 46% of revenues.

AVGO paid $3.1 billion in dividends and reduced long-term debt by $5.6 billion during the quarter. The board also approved a quarterly dividend of 65 cents per share.

Broadcom Guides for Stronger Q4 AI GrowthFor the fourth quarter of fiscal 2026, Broadcom expects revenues of approximately $34.8 billion, representing 93% year-over-year growth.

Semiconductor revenues are projected at about $26.1 billion, including $21.7 billion of AI semiconductor revenues, up 236%.

Infrastructure Software revenues are expected at roughly $8.7 billion. Broadcom forecasts a non-GAAP operating margin of about 66% and a gross margin of approximately 73% as the mix shifts further toward XPUs with higher memory content.

AVGO Raises Its Fiscal 2026 AI Revenue ViewBroadcom now expects fiscal 2026 AI semiconductor revenues of $58 billion, up 186% year over year and above its prior $56 billion outlook. The company has secured supply to support approximately $115 billion of AI semiconductor revenues in fiscal 2027.

AVGO also sees fiscal 2028 AI semiconductor revenues reaching $230 billion. The company said demand exceeds its fiscal 2027 outlook, while deployment timing depends on factors including data-center readiness, leading-edge silicon, substrates and memory supply.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

VGM ScoresAt this time, Broadcom Inc. has a strong Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. However, the stock has a score of F on the value side, putting it in the lowest quintile for this investment strategy.

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

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

Performance of an Industry PlayerBroadcom Inc. belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, Marvell Technology (MRVL - Free Report) , has gained 28.4% over the past month. More than a month has passed since the company reported results for the quarter ended July 2026.

Marvell reported revenues of $2.74 billion in the last reported quarter, representing a year-over-year change of +36.5%. EPS of $0.94 for the same period compares with $0.67 a year ago.

For the current quarter, Marvell is expected to post earnings of $1.10 per share, indicating a change of +44.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -0% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Marvell. Also, the stock has a VGM Score of F.