Bay Colony Advisory Group Inc d b a Bay Colony Advisors ve 2. čtvrtletí snížila podíl v UnitedHealth Group o 64,9 % na 1 646 akcií poté, co během období prodala 3 037 akcií. Generální ředitel Patrick Hugh Conway mezitím prodal 500 akcií za 410 USD za kus, celkem za 205 000 USD.
Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 64.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,646 shares of the healthcare conglomerate’s stock after selling 3,037 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in UnitedHealth Group were worth $684,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in UNH. Vanguard Group Inc. grew its position in shares of UnitedHealth Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 91,600,260 shares of the healthcare conglomerate’s stock valued at $30,238,162,000 after purchasing an additional 995,210 shares during the period. State Street Corp increased its stake in shares of UnitedHealth Group by 2.5% in the 4th quarter. State Street Corp now owns 45,232,170 shares of the healthcare conglomerate’s stock worth $14,931,592,000 after acquiring an additional 1,119,834 shares during the last quarter. Capital World Investors raised its stake in UnitedHealth Group by 3.8% during the fourth quarter. Capital World Investors now owns 22,591,042 shares of the healthcare conglomerate’s stock worth $7,457,723,000 after purchasing an additional 824,120 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in UnitedHealth Group by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,829,054 shares of the healthcare conglomerate’s stock valued at $6,215,660,000 after acquiring an additional 680,077 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of UnitedHealth Group by 6.6% in the 4th quarter. Capital International Investors now owns 18,655,111 shares of the healthcare conglomerate’s stock valued at $6,158,734,000 after purchasing an additional 1,155,162 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades UNH has been the topic of several recent analyst reports. HC Wainwright set a $492.00 price objective on shares of UnitedHealth Group in a report on Wednesday, May 27th. Zacks Research upgraded UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. DA Davidson set a $512.00 target price on UnitedHealth Group in a report on Tuesday, July 21st. Robert W. Baird upgraded shares of UnitedHealth Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $287.00 to $453.00 in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada upped their target price on shares of UnitedHealth Group from $463.00 to $478.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $455.92.
Get Our Latest Stock Analysis on UnitedHealth Group
Insider Buying and Selling at UnitedHealth Group In other news, CEO Patrick Hugh Conway sold 500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $410.00, for a total transaction of $205,000.00. Following the transaction, the chief executive officer directly owned 16,497 shares in the company, valued at $6,763,770. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.
UnitedHealth Group Trading Down 1.8% NYSE:UNH opened at $401.56 on Wednesday. The company has a market capitalization of $364.67 billion, a PE ratio of 25.84, a P/E/G ratio of 1.42 and a beta of 0.62. The stock’s 50 day moving average price is $415.13 and its 200 day moving average price is $351.84. The company has a quick ratio of 0.80, a current ratio of 0.78 and a debt-to-equity ratio of 0.66. UnitedHealth Group Incorporated has a 52-week low of $253.67 and a 52-week high of $461.62.
UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The healthcare conglomerate reported $6.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $1.44. UnitedHealth Group had a net margin of 3.14% and a return on equity of 16.53%. The company had revenue of $112.03 billion for the quarter, compared to the consensus estimate of $110.81 billion. During the same period last year, the firm posted $4.08 EPS. UnitedHealth Group’s revenue for the quarter was up .4% on a year-over-year basis. UnitedHealth Group has set its FY 2026 guidance at 19.500-20.000 EPS. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 19.69 EPS for the current year.
UnitedHealth Group Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a $2.32 dividend. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.21. The ex-dividend date was Monday, June 15th. This represents a $9.28 dividend on an annualized basis and a yield of 2.3%. UnitedHealth Group’s payout ratio is 59.72%.
UnitedHealth Group Profile (Free Report)
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
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BD dokončila nábor do studie PREVENT, první velké randomizované studie Phasix™ Mesh pro prevenci incizní kýly po břišní operaci. Do výzkumu bylo zařazeno 477 pacientů na 32 místech v USA a Evropě.
Enrollment completed in the first large-scale randomized study evaluating Phasix™ Mesh for incisional hernia prevention, a significant unmet need following abdominal surgery
, /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced a significant milestone in its advanced tissue regeneration strategy and expansion efforts with successful completion of enrollment in the PREVENT clinical trial evaluating Phasix™ Mesh for the prevention of incisional hernias.
Phasix Flat Mesh The study enrolled 477 patients across 32 sites in the United States and Europe, making it the first large, randomized study evaluating prophylactic reinforcement for incisional hernia prevention using a resorbable mesh, a common complication following abdominal surgery for which no products are currently approved.
"PREVENT reflects our commitment to extending the impact of advanced tissue regeneration into new areas of patient care," said Rian Seger, worldwide president of Surgery at BD. "By evaluating Phasix™ Mesh in hernia prevention, we are building on decades of innovation in abdominal wall surgery and generating evidence that could help broaden the role of regenerative technologies for patients at risk of post-surgical complications. We are grateful to the investigators, clinical sites and patients whose participation made this achievement possible."
The PREVENT trial aims to generate robust clinical evidence evaluating Phasix™ Mesh for the prevention of incisional hernia following elective open midline abdominal surgery in patients at high risk of developing a hernia.
Patients will continue to be followed through the study's primary endpoint at 24 months, with longer-term follow-up planned through five years to further evaluate safety and clinical outcomes. Following completion of the primary endpoint assessments, data from the study are expected to support a planned submission to the U.S. Food and Drug Administration as part of the regulatory pathway for this indication.
About BD
BD is one of the world's largest pure-play medical technology companies with a Purpose of advancing the world of health™ by driving innovation across medical essentials, connected care, biopharma systems and interventional. The company supports those on the frontlines of healthcare by developing transformative technologies, services and solutions that optimize clinical operations and improve care for patients. Operating across the globe, with more than 60,000 employees, BD delivers billions of products annually that have a positive impact on global healthcare. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase clinical efficiency, improve safety and expand access to healthcare. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X @BDandCo or Instagram @becton_dickinson.
Eli Lilly podala šest nových žalob proti americkým subjektům prodávajícím nelegální retatrutid a vyzvala platformy, platební firmy i regulátory k zásahu. Firma tvrdí, že lék není nikde na světě schválen pro lidské použití.
Files six new lawsuits as company escalates fight to protect patients
, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today escalated its continued fight to protect patients from the dangerous black market for retatrutide, filing six new lawsuits against U.S. entities selling black-market products in addition to having referred hundreds of bad actors to regulators and law enforcement worldwide. Lilly is also calling on the entities that sellers use to conduct their illegal business—social media and e-commerce platforms, credit card companies, payment processors and shipping and logistics carriers—to help protect patients and fight this illicit activity. According to the U.S. Food and Drug Administration (FDA), unapproved drugs sold for human use may pose significant risks for patients and are illegal.
"Retatrutide is being rigorously studied as part of a comprehensive clinical trial development program," said David A. Hyman, M.D., Lilly's chief medical officer. "We take the responsibility of evaluating the safety and efficacy of our investigational medicines seriously. What is being sold on the black market is not a medicine – it is entirely unverified, unapproved and not worth the risk."
Retatrutide is an investigational molecule in Phase 3 clinical trials for obesity, type 2 diabetes and other related indications. No medicine containing retatrutide has yet been approved for human use by any regulatory agency in the world. It cannot be sold to consumers.
FDA has made clear that sales of unapproved retatrutide to consumers are illegal, that retatrutide cannot be lawfully compounded, and that so-called "research-use only" products "are of unknown quality and may be harmful to [consumers'] health." Yet black-market sellers and businesses posing as legitimate medical providers openly sell retatrutide as a weight-loss "hack." These "medical spas," "wellness clinics" and self-styled suppliers are not practicing medicine; they are selling illegal drugs, frequently made by unregulated foreign manufacturers. Regulators, customs agencies and law enforcement worldwide have warned of the same dangers and acted on them, raiding clandestine manufacturing sites, seizing shipments and arresting those involved.
Lilly's lawsuits target U.S. entities selling illegal retatrutide products, including compounding pharmacies, medical spas, and online sellers that falsely claim their drugs are for "research-use only" when they are actually intended for human use. Lilly has also referred more than 200 individuals and entities to FDA, the U.S. Department of Justice, state attorneys general, law enforcement, and professional licensing boards, and is working with global regulators, law enforcement, and customs authorities to stop this illegal market. The company has reported more than 14,000 websites, advertisements, social media posts and product listings that unlawfully market retatrutide in over 100 countries to internet service providers, social media platforms, and e-commerce companies, but some continue to amplify misleading content to vulnerable consumers.
Now, Lilly is calling on others to join the fight for patient safety:
Drug regulators, customs agencies, law enforcement and other government authorities must treat the sale of unapproved retatrutide as the urgent public health crisis it is, prioritizing enforcement and coordinating across borders to dismantle the criminal networks selling these drugs. Social media and e-commerce platforms must stop enabling—and in some cases fueling—this illegal market and must take proactive steps to block this conduct before it reaches consumers. Credit card companies, payment processors, shipping and logistics companies, and other entities that sellers use to conduct their illegal businesses must cut off the infrastructure enabling this illegal trade. Healthcare providers should raise awareness of the potentially serious risks involved. Everyone can help by reporting illegal retatrutide products to law enforcement, drug and pharmacy regulators, and the Lilly Answers Center at 1-800-LillyRx. Lilly's lawsuits include:
Eli Lilly & Co. v. Aesthetic Envy Cosmetic Centers LLC, d/b/a Aesthetic Envy (N.D. Cal.) Eli Lilly & Co. v. Astra LLC, d/b/a Astra Peptides (W.D. Tex.) Eli Lilly & Co. v. Legendary Peptides, LLC (E.D. Tex.) Eli Lilly & Co. v. Striker Pharmacy, LLC (S.D. Tex.) Eli Lilly & Co. v. Texas Peptides Inc. (W.D. Tex.) Eli Lilly & Co. v. Lone Star Peptide Co. (S.D. Tex.) About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. C-LLY
Tržní kapitalizace tokenizovaných akcií na Arbitrum vzrostla o 476 % na 173 milionů USD. ARB přesto zůstává pod prodejním tlakem a po dvouletém poklesu naznačuje dno kolem 0,07 USD.
Arbitrum [ARB] has been in a strong downtrend for two years, despite the chain’s performance. However, the altcoin appears to be forming a bottom at $0.07 as tokenization on the chain gains pace.
Notably, the market cap of tokenized stocks on Arbitrum by issuer grew to $173 million, a 476% increase. Reality accounted for $135 million, while Robinhood, Dinari, and xStocks were capped at $24 million, $13.9 million, and $3.8K, respectively.
Source: Token Terminal Over the past ninety days, the market cap of the top 10 tokenized stocks surpassed the $100 million mark. They included Micron, Nvidia, SanDisk, SpaceX, Strategy (formerly MicroStrategy), Tesla, and Intel, among others.
Moreover, the Arbitrum Platform has the highest RWA count at 3,208, making it the first chain to surpass 3,000, according to rwa.xyz. It is followed by Solana [SOL], Ethereum [ETH], Avalanche [AVAX], and BNB Chain, respectively.
Despite the momentum in tokenization, bearish sentiments did not lurk.
In addition to the daily token unlock of 479.06K ARB, a larger unlock is approaching. On the 16th of August, Abritrum will unlock 93.19 million ARB tokens worth $7.41 million. This adds selling pressure to the existing strong downtrend.
Source: CoinMarketCap Such consistent selling pressure from token unlocks partially explains why ARB’s price is weak.
ARB’s market structure after a 2-year downtrend The market structure has been bearish for the past two years, but things could be about to change. The 4-hour chart shows a structure that is in transition at around the $0.07 zone.
ARB’s price is making higher lows alongside the RSI Divergence which was at 50.99 as of writing, a typical institutional accumulation pattern. As big players build positions, the bigger crowd is fading.
This is evident as the Aggregate Crypto Open Interest dropped from $64.5 million to $46.63 million, indicating that the broader market was losing interest in the token.
Source: ARB/USDT on TradingView Therefore, the price of Arbitrum remains in a downtrend due to the existing market structure and tokenomics.
But the growth in tokenization may help speed up the formation of a bottom between the $0.07 and $0.09 zones. However, if the slanting trendline breaks down, it could indicate the continuation of the downtrend.
Final Summary The market cap of tokenized stocks on Arbitrum One has grown by 476%, but the token remains under intense selling pressure. ARB price has been declining for the past two years but has hinted at bottoming at the $0.07 zone.
Kostas Chalkias, spoluzakladatel a chief cryptographer společnosti Mysten Labs, vyvíjí pro Sui levné kvantově bezpečné karty pro dvoufaktorové ověření s cílem dostat se pod 10 USD za kus. Reaguje tak na nedávný exploit hardwarových peněženek Coldcard.
Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, has revealed he is building affordable quantum-safe two-factor authentication cards for the Sui blockchain. The project puts a fresh spotlight on hardware wallet security at a moment when the sector is dealing with one of its worst-ever exploits.
Sub-$10 Cards, NFC Signatures and a Dedicated Factory Chalkias has set a target of under $10 per quantum card key and one to two seconds per NFC quantum signature. To reach that at scale, he quietly leased a factory to mass-produce quantum-resistant hardware wallet cards for Sui. The work has been carried out on personal time outside his day job, and Chalkias has said he may go as far as sponsoring cards for users who cannot afford them.
The push fits a broader pattern of quantum preparedness at Mysten Labs. Sui can adopt new authentication methods, including post-quantum cryptography, at the flip of a switch, and Chalkias has said the network was "designed to be quantum-ready from day one." Existing Sui accounts would be able to rotate into a quantum-safe key derived from their existing recovery phrase rather than requiring a full migration to a new wallet. Chalkias holds a PhD in identity-based cryptography and plays a key role in the development of the Sui blockchain and the Walrus decentralised storage layer.
Coldcard Exploit Sharpens the Focus on Wallet Security Chalkias has cited recent hardware wallet failures as part of his motivation, and the timing is pointed. Beginning July 30, 2026, an attacker exploited a five-year-old firmware flaw in Coinkite's Coldcard hardware wallet to systematically drain bitcoin from affected devices, with the root cause traced to a March 2021 firmware release that caused seed generation to fall back on a weak software random number generator rather than the device's hardware-based source of entropy.
Galaxy Research confirmed 1,596 $BTC stolen across three attack waves, with a suspected fourth wave that could bring the total to approximately 2,055 BTC, worth close to $130 million. At least four waves of theft followed, draining funds from more than 5,200 addresses. The root cause was weak random-number generation dating to a March 2021 firmware build, not a flaw in the Bitcoin protocol itself.
Coinkite shipped emergency firmware for every affected model on July 31, but installing it does not repair an existing seed. Anyone who generated a seed on a Coldcard between March 2021 and the patch should treat it as compromised and migrate to a new seed. The incident has reinforced the case for rethinking how cryptographic keys are generated and secured at the hardware level, the precise problem Chalkias says he is working to address.
Sources:
Bitcoin.com News: Sui Co-Founder Is Building Quantum-Safe Hardware Wallets For $10
TRM Labs: The Largest Hardware Wallet Exploit of 2026, Inside the $116 Million Coldcard Hack
The Hacker News: Coldcard Hardware Wallet Flaw Linked to $70 Million Bitcoin Theft in 41 Minutes
Hashi Testnet od Sui za tři týdny zaznamenal přes 1,1 milionu depozitů a 165 000 výběrů. Více než 50 % transakcí v Bitcoin Signet za poslední dva týdny pocházelo z testování Hashi.
Hashi Testnet Posts Strong Early NumbersSui Network's Hashi Testnet has logged more than 1.1 million deposits and 165,000 withdrawals in just three weeks since going live, pointing to strong early demand for the protocol ahead of a planned mainnet launch.
The pace of activity has had a measurable knock-on effect on Bitcoin Signet, the public test network used by developers to experiment with Bitcoin transactions without touching the main chain. According to Sui, over 50% of the transactions made in Bitcoin Signet over the past two weeks were generated by Hashi testing. That wave of traffic has pushed Signet activity to roughly five times its pre-launch baseline.
To keep up with the volume of withdrawal requests, Sui Core introduced Overdrive Mode, a feature designed to manage heavy withdrawal traffic and maintain efficient processing under load.
What Hashi Is and Why It MattersThe Sui Foundation and Mysten Labs launched the Hashi testnet on July 22. Hashi lets bitcoin serve as collateral for onchain loans while keeping $BTC on the Bitcoin network rather than re-minting or moving it to another chain.
Deposits are secured with a 2-of-2 multisig that requires signatures from the protocol's multi-party computation validators and a separate Guardian Layer, a configurable risk-management system designed to slow or block suspicious withdrawals.
More than 25 institutional partners are testing lending and credit applications on the testnet. Participants include custody provider BitGo, trading firms Cumberland and FalconX, hardware wallet maker Ledger, infrastructure provider Blockdaemon, exchange Bullish, and Sui-native lending platforms Navi and Scallop.
Sui Network says Hashi is now progressing toward mainnet, with the protocol's broader goal being to unlock $BTC's large pool of idle capital for productive use inside decentralised finance. While Bitcoin's market cap exceeds $1 trillion, roughly just 0.22% of it is currently deployed in DeFi.
Sources:
Sui Blog: Hashi Testnet Is Live
TechTimes: Bitcoin Collateral Reaches DeFi Without Wrapping
Crypto Times: Sui Launches Hashi Testnet for Bitcoin-Backed Finance
Hawkeye and DiTing helped prevent RMB165M (approximately US$23M) in fraud losses in 2025, reinforcing Yiren Digital's credit-risk discipline
, /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced that its AI-powered fraud detection systems intercepted 10,300 fraudulent borrowers across 14,500 cases in 2025, helping avoid RMB165 million (US$23 million) in fraud-related losses and demonstrating how enterprise AI can strengthen credit-risk management through AI-led fraud detection and intelligent decision-making.
As part of its broader "All-in-AI" strategy, Yiren Digital has established a proactive AI risk management framework spanning pre-loan, in-loan and post-loan processes. The framework combines the Company's Hawkeye fraud detection system, the DiTing intelligent decision-making platform, risk models, data analysis and specialist review to identify suspicious activity, improve underwriting quality and support timely intervention.
"Risk management is one of the clearest examples of how AI can create measurable value across highly regulated financial services," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "Our third-generation AI fraud detection technology represents a significant advancement in financial risk management, enabling more adaptive and precise detection while continuously responding to emerging fraud patterns. Built on years of innovation, this advanced platform is now available as an exportable service, enabling financial institutions and fintech companies to deploy enterprise-grade fraud protection without massive infrastructure investment."
Yiren Digital uses a monitoring-analysis-response-review process to track asset quality, compliance dynamics and other risk indicators, trigger warnings when specified thresholds are reached, and coordinate responses across risk control, legal and other functions, supporting more proactive portfolio risk management.
Its proprietary DiTing system applies AI models to analyze multidimensional information, including credit reports, user behavior and other authorized data, supporting fraud identification, refined credit-risk assessment and more consistent credit decisions. Hawkeye uses accumulated fraud cases and structured feedback to update screening rules and strengthen future detection.
Yiren Digital's AI Fraud Protection at Scale
Fraud losses avoided: In 2025, the Company intercepted 10,300 fraudulent borrowers across 14,500 cases, helping avoid RMB165 million (US$23 million) in losses. Cumulative fraud intelligence: As of the end of 2025, the Company's proprietary blacklist database contained approximately 800 million records. Hawkeye and DiTing had cumulatively identified more than 500,000 suspected fraudulent borrowers and 41,993 malicious actors associated with black-market operations. High-volume screening: DiTing supports AI-driven risk decisions with daily capacity to screen approximately 30,000 potentially risky credentials. Related document and identity-verification tools identify approximately 1,500 counterfeit documents and more than 1,000 video-fraud cases each day. Human oversight and governance: Hawkeye analyzes fraud-risk events using historical cases, risk-assessment results and algorithmic rules, and generates virtual work orders for fraud detection specialists. Automated identification is combined with human review to support consistent, reviewable decisions in higher-risk cases. The Company's fraud detection capabilities are built on its proprietary enterprise AI architecture, including the MagiCube 2.0 multi-agent platform, which provides common infrastructure for enterprise AI deployment across risk management and other core business functions, allowing proven AI capabilities to be deployed more efficiently across the organization.
These production AI deployments illustrate how Yiren Digital is applying enterprise AI beyond workflow automation to strengthen credit-risk management, improve fraud detection, enhance credit decision-making and help reduce potential fraud-related losses across regulated financial services.
Going forward, Yiren Digital will continue strengthening AI-enabled credit-risk management and governance across its credit and insurance operations, while enhancing model monitoring, explainability and human oversight across regulated business lines to support long-term asset quality, operational resilience and responsible AI deployment.
About Yiren Digital
Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident," and similar expressions. Forward-looking statements are based on management's current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.
Amcor ve 4. čtvrtletí zvýšila tržby o 26 % na 6,4 mld. USD a čistý zisk na 389 mil. USD. Za celý rok tržby vzrostly o 57 % na 23,5 mld. USD a firma čeká upravený EPS 1,80 až 1,90 USD.
Net sales $6.4 billion, up 26% largely driven by Berry acquisition and pass through of higher raw material costs Net income $389 million vs. -$39 million prior-year Adjusted EBITDA $1,045 million vs. $789 million prior-year, up 32% Diluted EPS of $0.83 vs. $-0.10 prior-year Adjusted Diluted EPS of $1.23 vs $1.00 prior-year, up 23% Highlights - Fiscal Year Ended June 30, 2026
Net sales $23.5 billion, up 57% largely driven by the Berry acquisition Net income $1,106 million vs. $511 million prior-year Adjusted EBITDA $3,673 million vs. $2,186 million prior-year, up 68% Diluted EPS of $2.38 vs. $1.60 prior-year Adjusted Diluted EPS $4.02 vs. $3.56 prior-year, up 13% Outlook - Six Months Ended December 31, 2026 ('Transition Period')
Adjusted Diluted EPS of $1.80 to $1.90 Amcor CEO Peter Konieczny said, "We delivered strong operating performance in the fourth quarter despite a challenging macro environment. We drove broad-based volume growth, while effectively managing unprecedented input cost inflation. Synergy realization came in ahead of plan, while performance in our non-core businesses improved substantially.
Looking ahead, we are encouraged by the momentum we see across the business and the greater potential for growth and continued synergy capture following the transformative acquisition of Berry. As we complete the integration and begin to realize our potential as a global leader in consumer packaging, we remain confident in delivering on our medium and long-term commitments."
Key Financials(1)(2)(3)
Three Months Ended June 30,
Twelve Months Ended June 30,
GAAP results
2025 $ million
2026 $ million
2025 $ million
2026 $ million
Net sales
5,082
6,398
15,009
23,506
Net income
(39)
389
511
1,106
EPS (diluted, $)
(0.10)
0.83
1.60
2.38
Three Months Ended June 30,
Reported ∆%
Twelve Months Ended June 30,
Reported ∆%
Adjusted non-GAAP results
2025 $ million
2026 $ million
2025 $ million
2026 $ million
Net sales
5,082
6,398
26
15,009
23,506
57
EBITDA
789
1,045
32
2,186
3,673
68
EBIT
611
836
37
1,723
2,813
63
Net income
408
570
40
1,136
1,863
64
EPS ($)
1.00
1.23
23
3.56
4.02
13
Free Cash Flow
943
1,396
48
926
1,303
41
All amounts referenced throughout this document are in US dollars unless otherwise indicated and numbers may not add up to the totals provided due to
rounding.
(1) Adjusted non-GAAP results exclude items not considered representative of ongoing operations. Further details on non-GAAP measures and
reconciliations to GAAP measures can be found under "Presentation of non-GAAP information".
(2) All prior year results reflect the Amcor plc group, considered the accounting acquirer in the April 30, 2025 combination between Amcor plc and Berry
Global.
(3) All periods presented in this release have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. Further
details can be found under 'Reverse Stock Split'.
Financial results
Three months ended June 30, 2026
Net sales of $6,398 million were 26% higher than last year on a reported basis, including approximately $962 million of acquired sales net of divestitures, which represents growth of approximately 19%. The pass through of movements in raw material costs had a favorable impact of approximately $280 million, which represents growth of approximately 6%, movements in foreign exchange rates had a favorable impact of approximately 2% and the remaining (1%) year-over-year variation reflects the net impact of volumes and price/mix.
The Company estimates that volumes were approximately 0.5% higher than estimated combined volumes for the legacy Amcor and legacy Berry businesses in the June quarter last year, excluding non-core and divested businesses. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales, excluding non-core and divested businesses.
Adjusted EBIT of $836 million was 37% higher than last year on a reported basis, including approximately $96 million of acquired EBIT net of divestitures, which represents growth of approximately 15%. Movements in foreign exchange rates had a favorable impact of approximately 3% and the remaining 19% year-over-year variation mainly reflects synergy benefits from the Berry acquisition of approximately $100 million and strong execution against initiatives to drive cost and productivity benefits, including in the non-core businesses.
GAAP net interest expense was $150 million and GAAP income tax expense was $97 million. Inclusive of acquisition- related financial benefits of approximately $15 million, adjusted net interest expense was $150 million and adjusted tax expense was $116 million representing an effective tax rate of 16.8%. Adjusted net interest expense was $36 million higher than the prior year primarily as a result of increased acquisition related net debt.
Twelve months ended June 30, 2026
Net sales of $23,506 million were 57% higher than last year on a reported basis, including approximately $7.9 billion of acquired sales net of divestitures, which represents growth of approximately 52%. The pass through of movements in raw material costs had a favorable impact of approximately $240 million, which represents growth of approximately 2%, movements in foreign exchange rates had a favorable impact of approximately 5% and the remaining (2%) year-over-year variation reflects the net impact of volumes and price/mix.
Adjusted EBIT of $2,813 million was 63% higher than last year on a reported basis, including approximately $842 million of acquired EBIT net of divestitures, which represents growth of approximately 49%. Movements in foreign exchange rates had a favorable impact of approximately 4% and the remaining 10% year-over-year variation mainly reflects synergy benefits from the Berry acquisition of approximately $240 million, partly offset by lower volumes.
GAAP net interest expense was $610 million and GAAP income tax expense was $181 million. Inclusive of acquisition-related financial benefits of approximately $45 million, adjusted net interest expense was $581 million and adjusted tax expense was $368 million representing an effective tax rate of 16.5%.
Free cash flow was $1,303 million after funding approximately $290 million of net transaction, restructuring and integration costs. Net debt was $12,897 million at June 30, 2026.
Dividend
The Board declared a quarterly cash dividend of 65.0 cents per share today, compared with 63.75 cents per share, declared as 12.75 cents per share before adjusting for the 1-for-5 reverse stock split effected on January 14, 2026. The dividend will be paid in US dollars to holders of Amcor's ordinary shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an unfranked dividend of 92.0 Australian cents per share, which reflects the quarterly dividend of 65.0 cents per share converted at an AUD:USD average exchange rate of 0.7043 over the five trading days ended August 10, 2026.
The ex-dividend date will be September 3, 2026 for holders of CDIs trading on the ASX and September 4, 2026 for holders of shares trading on the NYSE. For all shareholders, the record date will be September 4, 2026 and the payment date will be September 24, 2026.
Outlook
Amcor will have a six-month reporting period from July 1, 2026, through December 31, 2026 ('Transition Period'), as part of transitioning from a previously announced June 30 to December 31 year-end.
For the transition period, the Company expects Adjusted EPS of approximately $1.80 to $1.90, and leverage on December 31, 2026 of 3.5x - 3.6x.[1]
Outlook does not take into account the impact of potential portfolio optimization actions not announced to date. Outlook contemplates a range of factors, including ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results and actual results could vary materially. Reconciliations of projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for the periods referenced have not been completed. Refer to page 14 for further information.
[1] Leverage calculated as Net Debt divided by LTM Adjusted EBITDA plus share-based compensation.
Conference Call
Amcor is hosting a conference call with investors and analysts to discuss these results on Wednesday August 12, 2026 at 8:00am US Eastern Daylight Time / 10:00pm Australian Eastern Standard Time. Investors are invited to listen to a live webcast of the conference call at our website, www.amcor.com, in the "Investors" section.
Those wishing to access the call should use the following toll-free numbers, with the Conference ID : 980769865
USA: 833 461 5787 (toll free) Australia: 1800 849 752 (toll free) United Kingdom: 0808 196 8935 (toll free) Singapore: 1800 408 1721 (toll free) Hong Kong: 800 938 481 (toll free) From all other countries, the call can be accessed by dialing +1 585 542 9983 (toll).
A replay of the webcast will also be available in the "Investors" section at www.amcor.com following the call.
About Amcor
Amcor is the global leader in developing and producing responsible consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enable us to solve packaging challenges around the world every day, producing a range of flexible packaging, rigid packaging, cartons and closures that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future. Supported by a commitment to safety, 75,000 people generate $23 billion in annual sales from operations that span approximately 400 locations in more than 40 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I YouTube
Amcor plc UK Establishment Address: 83 Tower Road North, Warmley, Bristol, England, BS30 8XP, United Kingdom
UK Overseas Company Number: BR020803
Registered Office: 3rd Floor, 44 Esplanade, St Helier, JE4 9WG, Jersey
Jersey Registered Company Number: 126984, Australian Registered Body Number (ARBN): 630 385 278
Segment information
Global Flexible Packaging Solutions segment - June 2026 quarter
Three Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
2,994
3,525
18
16
Adjusted EBIT
435
533
23
20
Adjusted EBIT / Sales %
14.5
15.1
Net sales of $3,525 million were 16% higher than last year on a constant currency basis including approximately $297 million of acquired sales net of divestitures, which represents growth of approximately 10%. The pass through of movements in raw material costs had a favorable impact of approximately $190 million, or 6% on net sales.
The Company estimates that volumes for the Global Flexible Packaging Solutions segment were approximately 1% higher compared to volumes for the combined legacy Amcor and Berry businesses in the June quarter last year. Market category highlights included higher volumes in pet food and protein, partly offset by lower volumes in healthcare. By region, volumes in developed markets were higher than the prior year led by North America. Emerging markets continued to see volume growth compared with the prior year, led by Asia. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales.
Adjusted EBIT of $533 million was 20% higher than last year on a constant currency basis, reflecting approximately $31 million of acquired EBIT, net of divestitures which represents growth of approximately 7%. The remaining 13% year-over-year growth mainly reflects synergy realization from the Berry acquisition, favorable cost performance and productivity benefits.
Global Flexible Packaging Solutions segment - FY 2026
Twelve Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
10,066
12,829
27
24
Adjusted EBIT
1,398
1,789
28
26
Adjusted EBIT / Sales %
13.9
13.9
Net sales of $12,829 million were 24% higher than last year on a constant currency basis including approximately $2.2 billion of acquired sales net of divestitures, which represents growth of approximately 22%. The pass through of movements in raw material costs had a favorable impact of approximately $240 million, or 2% on net sales.
Adjusted EBIT of $1,789 million was 26% higher than last year on a constant currency basis, reflecting approximately $250 million of acquired EBIT, net of divestitures which represents growth of approximately 18%. The remaining 8% year-over-year growth mainly reflects synergy benefits from the Berry acquisition, favorable cost performance and productivity benefits.
Global Rigid Packaging Solutions segment - June 2026 quarter
Three Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
2,088
2,873
38
35
Adjusted EBIT
219
352
61
57
Adjusted EBIT / Sales %
10.5
12.3
Net sales of $2,873 million were 35% higher than last year on a constant currency basis, including approximately $665 million of acquired sales, which represents growth of approximately 32%. The pass through of movements in raw material costs had a favorable impact of approximately $90 million, or 4% on net sales, and the remaining (1%) year- over-year variation reflects the impact of volumes and price/mix.
Excluding non-core businesses, the Company estimates that volumes for the Global Rigid Packaging Solutions segment were approximately 0.5% higher compared with volumes for the combined legacy Amcor and Berry businesses in the June quarter last year. Market category highlights included higher volumes in foodservice and beauty & wellness, partly offset by lower volumes in liquids. By region, volumes in North America were in line with the prior year, higher than the prior year in Europe and modestly lower across emerging markets, primarily Latin America. The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales.
Adjusted EBIT of $352 million was 57% higher than last year on a constant currency basis, including approximately $52 million of acquired EBIT which represents growth of approximately 24%. The remaining 33% year-over-year variation mainly reflects synergy realization from the Berry acquisition and strong execution against initiatives to drive cost and productivity benefits, including the non-core businesses.
Global Rigid Packaging Solutions segment - FY 2026
Twelve Months Ended June 30,
Reported ∆%
Constant
currency ∆%
2025 $ million
2026 $ million
Net sales
4,943
10,677
116
110
Adjusted EBIT
435
1,176
170
161
Adjusted EBIT / Sales %
8.8
11.0
Net sales of $10,677 million, were 110% higher than last year on a constant currency basis, including approximately $5.6 billion of acquired sales net of divestitures, which represents growth of approximately 114%, while the remaining (4%) year-over-year variation reflects lower volumes and price/mix. The pass through of movements in raw material costs had no material impact on net sales.
Adjusted EBIT of $1,176 million was 161% higher than last year on a constant currency basis, including approximately $635 million of acquired EBIT net of divestitures which represents growth of approximately 146%. The remaining 15% year-over-year variation mainly reflects synergy benefits from the Berry acquisition and cost reduction initiatives, partly offset by lower volumes and lower earnings in non-core businesses.
Adjusted EBIT margins of 11.0% were 220 basis points higher than the prior year reflecting the improved quality of the combined business.
U.S. GAAP Condensed Consolidated Statements of Income (Unaudited)
Three Months Ended June 30,
Twelve Months Ended June 30,
($ million, except per share amounts)
2025
2026
2025
2026
Net sales
5,082
6,398
15,009
23,506
Cost of sales
(4,187)
(5,061)
(12,175)
(18,816)
Gross profit
895
1,337
2,834
4,690
Selling, general, and administrative expenses
(408)
(568)
(1,205)
(1,931)
Amortization of acquired intangible assets
(130)
(147)
(246)
(558)
Research and development expenses
(38)
(42)
(120)
(170)
Restructuring, transaction and integration expenses, net
(236)
(36)
(307)
(298)
Other income, net
4
102
53
166
Operating income
87
646
1,009
1,899
Interest expense, net
(125)
(150)
(347)
(610)
Other non-operating income/(loss), net
(9)
(11)
(12)
(7)
Income/loss before income taxes and equity in income/(loss) of
affiliated companies
(47)
485
650
1,282
Income tax expense
6
(97)
(135)
(181)
Equity in income/(loss) of affiliated companies, net of tax
2
1
3
5
Net income/(loss)
(39)
389
518
1,106
Net income attributable to non-controlling interests
—
—
(7)
—
Net income/(loss) attributable to Amcor plc
(39)
389
511
1,106
USD:EUR average FX rate
0.8825
0.8614
0.9203
0.8574
Basic earnings per share attributable to Amcor
(0.10)
0.84
1.60
2.39
Diluted earnings per share attributable to Amcor
(0.10)
0.83
1.60
2.38
Weighted average number of shares outstanding – Basic
406.9
463.4
317.9
463.2
Weighted average number of shares outstanding – Diluted
408.0
464.6
318.6
463.8
U.S. GAAP Condensed Consolidated Statements of Cash Flows (Unaudited)
Twelve Months Ended June 30,
($ million)
2025
2026
Net income
518
1,106
Depreciation, amortization, and impairment
722
1,479
Net gain on disposal of businesses and investments
(8)
(54)
Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and
currency
(53)
(273)
Other non-cash items
211
(107)
Net cash provided by operating activities
1,390
2,151
Purchase of property, plant, and equipment and other intangible assets
(580)
(922)
Proceeds from sales of property, plant, and equipment and other intangible assets
18
73
Business acquisitions and Investments in affiliated companies, and other
(1,653)
(17)
Proceeds from divestitures
113
272
Proceeds from sale of affiliated companies and other investments
70
Net debt proceeds/(repayments)
1,876
(65)
Dividends paid
(845)
(1,195)
Share buy-back/cancellations
—
(1)
Purchase of treasury shares, proceeds from exercise of options and tax withholdings for share-
based incentive plans
(107)
(65)
Other, including effects of exchange rate on cash and cash equivalents
27
(13)
Net increase/decrease in cash and cash equivalents
239
288
Cash and cash equivalents at the beginning of the year
588
827
Cash and cash equivalents at the end of the year
827
1,115
U.S. GAAP Condensed Consolidated Balance Sheets (Unaudited)
($ million)
June 30, 2025
June 30, 2026
Cash and cash equivalents
827
1,115
Trade receivables, net
3,426
3,639
Inventories, net
3,471
3,672
Property, plant and equipment, net
8,202
7,409
Goodwill and other intangible assets, net
18,679
18,663
Other assets
2,461
2,597
Total assets
37,066
37,095
Trade payables
3,490
4,021
Short-term debt and current portion of long-term debt
257
150
Long-term debt, less current portion
13,841
13,862
Accruals and other liabilities
7,738
7,261
Shareholders' equity
11,740
11,801
Total liabilities and shareholders' equity
37,066
37,095
Components of Fiscal 2026 Net Sales growth
Three Months Ended June 30
Twelve Months Ended June 30
($ million)
Global
Flexible
Packaging
Solutions
Global Rigid
Packaging
Solutions
Total
Global
Flexible
Packaging
Solutions
Global Rigid
Packaging
Solutions
Total
Net sales fiscal year 2026
3,525
2,873
6,398
12,829
10,677
23,506
Net sales fiscal year 2025
2,994
2,088
5,082
10,066
4,943
15,009
Reported Growth %
18
38
26
27
116
57
FX %
2
3
2
3
6
5
Constant Currency Growth %
16
35
24
24
110
52
Raw Material Pass Through %
6
4
6
2
—
2
Items affecting comparability %
10
32
19
22
114
52
Organic Growth %
—
(1)
(1)
—
(4)
(2)
Volume %
1
(1)
—
(1)
(3)
(2)
Price/Mix %
(1)
—
(1)
1
(1)
—
Reconciliation of Non-GAAP Measures
Reconciliation of adjusted Earnings before interest, tax, depreciation and amortization (EBITDA), Earnings before interest
and tax (EBIT), Net income, Earnings per share (EPS) and Free Cash Flow
Three Months Ended June 30, 2025
Three Months Ended June 30, 2026
($ million)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
Net income attributable to Amcor
(39)
(39)
(39)
(0.10)
389
389
389
0.83
Net income attributable to non-controlling
interests
—
—
—
—
Tax expense
(6)
(6)
97
97
Interest expense, net
125
125
150
150
Depreciation and amortization
309
367
EBITDA, EBIT, Net income and EPS
389
80
(39)
(0.10)
1,003
636
389
0.83
Impact of hyperinflation
8
8
8
0.02
6
6
6
0.01
Restructuring, integration and related expenses, net (1)
53
53
53
0.13
24
36
36
0.08
Transaction costs
142
142
142
0.35
—
—
—
—
Merger related compensation
41
41
41
0.10
—
—
—
—
Inventory step-up amortization
133
133
133
0.33
—
—
—
—
Other
24
24
24
0.06
12
12
12
0.03
Amortization of acquired intangibles (2)
130
130
0.32
147
147
0.32
Interest expense Berry Transaction
10
0.02
—
—
Tax effect of above items
(94)
(0.23)
(20)
(0.04)
Adjusted EBITDA, EBIT, Net income and EPS
789
611
408
1.00
1,045
836
570
1.23
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBITDA, EBIT, Net income and EPS
32
37
40
23
% currency impact
2
3
4
3
% constant currency growth
30
34
36
20
% items affecting comparability (3)
18
15
% from all other sources
12
19
Adjusted EBITDA
789
1,045
Interest paid, net
(123)
(143)
Income tax paid
(138)
(70)
Purchase of property, plant and equipment and
other intangible assets
(220)
(235)
Proceeds from sales of property, plant and
equipment and other intangible assets
9
35
Movement in working capital
744
849
Other
(118)
(57)
Adjusted Free Cash Flow
943
1,424
Berry transaction and integration costs
(28)
Free cash flow
1,396
(1) Three months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Twelve Months Ended June 30, 2025
Twelve Months Ended June 30, 2026
($ million)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
EBITDA
EBIT
Net
Income
EPS
(Diluted)
(1)
Net income attributable to Amcor
511
511
511
1.60
1,106
1,106
1,106
2.38
Net income attributable to non-controlling interests
7
7
—
—
Tax expense
135
135
181
181
Interest expense, net
347
347
610
610
Depreciation and amortization
710
1,450
EBITDA, EBIT, Net income and EPS
1,710
1,000
511
1.60
3,347
1,897
1,106
2.38
Impact of hyperinflation
16
16
16
0.05
19
19
19
0.04
Restructuring, integration and related expenses, net (2)
97
97
97
0.30
234
266
266
0.58
Transaction costs
169
169
169
0.53
32
32
32
0.07
Merger related compensation
41
41
41
0.13
—
—
—
—
Inventory step-up amortization
133
133
133
0.42
—
—
—
—
Other
21
21
21
0.07
41
41
41
0.09
Amortization of acquired intangibles (3)
246
246
0.77
558
558
1.20
Interest expense Berry Transaction
15
0.05
29
0.06
Tax effect of above items
(113)
(0.35)
(188)
(0.40)
Adjusted EBITDA, EBIT, Net income and EPS
2,186
1,723
1,136
3.56
3,673
2,813
1,863
4.02
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBITDA, EBIT, Net income, and EPS
68
63
64
13
% currency impact
4
4
5
3
% constant currency growth
64
59
59
10
% items affecting comparability (4)
56
49
% from all other sources
8
10
Adjusted EBITDA
2,186
3,673
Interest paid, net
(290)
(549)
Income tax paid
(286)
(451)
Purchase of property, plant and equipment and other intangible assets
(580)
(922)
Proceeds from sales of property, plant and equipment and other intangible assets
18
48
Movement in working capital
34
(50)
Other
(156)
(156)
Adjusted Free Cash Flow
926
1,593
Berry transaction and integration costs
(290)
Free cash flow
1,303
(1) Calculation of diluted EPS for the twelve months ended June 30, 2026 and 2025, excludes net income attributable to shares to
be repurchased under forward contracts of $0 million and $1 million, respectively. Earnings per share amounts are computed
independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of
changes in average quarterly shares outstanding and due to rounding.
(2) Twelve months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(3) Amortization of acquired intangible assets from business combinations.
(4) Reflects the impact of acquired, disposed, and ceased operations.
Reconciliation of adjusted EBIT by reporting segment
Three Months Ended June 30, 2025
Three Months Ended June 30, 2026
($ million)
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Net income attributable to Amcor
(39)
389
Net income attributable to non-
controlling interests
—
—
Tax expense
(6)
97
Interest expense, net
125
150
EBIT
298
17
(236)
80
440
293
(98)
636
Impact of hyperinflation
1
7
—
8
—
6
—
6
Restructuring, integration and
related expenses, net (1)
38
7
8
53
28
22
(14)
36
Transaction costs
9
3
130
142
—
—
—
—
Merger related compensation
—
—
41
41
—
—
—
—
Inventory step-up amortization
27
106
—
133
—
—
—
—
Other
1
12
11
24
(10)
(41)
63
12
Amortization of acquired
intangibles(2)
61
67
2
130
75
72
1
147
Adjusted EBIT
435
219
(43)
611
533
352
(48)
836
Adjusted EBIT / Sales %
14.5 %
10.5 %
12.0 %
15.1 %
12.3 %
13.1 %
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBIT
23
61
—
37
% currency impact
3
4
—
3
% constant currency
20
57
—
34
% items affecting comparability (3)
7
24
—
15
% from all other sources
13
33
—
19
(1) Three months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry
Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Twelve Months Ended June 30, 2025
Twelve Months Ended June 30, 2026
($ million)
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Global
Flexible
Packaging
Solutions
Global
Rigid
Packaging
Solutions
Other
Total
Net income attributable to Amcor
511
1,106
Net income attributable to non-
controlling interests
7
—
Tax expense
135
181
Interest expense, net
347
610
EBIT
1,113
229
(342)
1,000
1,373
817
(294)
1,897
Impact of hyperinflation
1
15
—
16
1
18
—
19
Restructuring, integration and related
expenses, net (1)
68
12
17
97
106
120
40
266
Transaction costs
9
4
156
169
8
2
22
32
Merger related compensation
—
—
41
41
—
—
—
—
Inventory step-up amortization
27
106
—
133
—
—
—
—
Other
12
(4)
13
21
—
(35)
76
41
Amortization of acquired intangibles(2)
169
73
4
246
300
254
4
558
Adjusted EBIT
1,398
435
(110)
1,723
1,789
1,176
(152)
2,813
Adjusted EBIT / Sales %
13.9 %
8.8 %
11.5 %
13.9 %
11.0 %
12.0 %
Reconciliation of adjusted growth to constant currency growth
% growth - Adjusted EBIT
28
170
—
63
% currency impact
2
9
—
4
% constant currency growth
26
161
—
59
% items affecting comparability (3)
18
146
—
49
% from all other sources
8
15
—
10
(1) Twelve months ended June 30, 2026 primarily reflects restructuring and integration costs incurred in connection with the Berry Global acquisition.
(2) Amortization of acquired intangible assets from business combinations.
(3) Reflects the impact of acquired, disposed, and ceased operations.
Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements in numerous industries; risk of loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; risk of integrating acquisitions and achieving the financial and other results and benefits anticipated at the time of acquisition; risk that the strategic review of our portfolio may cause disruptions to our business or may not result in completion of a transaction to restructure or divest non-core businesses or may not create additional value for our shareholders; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions, including impacts from the Middle East conflict; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect our business; production, supply, and other commercial risks, including those resulting from geopolitical conflicts and counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks; an inability to attract, develop, and retain our skilled workforce and manage key transitions; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; physical impacts of climate change; significant disruption at a key manufacturing facility; cybersecurity risks, which could disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which could disrupt our operations, compromise customer, employee, supplier, and other data; risk that the use of artificial intelligence could adversely affect our business and financial results; risk that the Company's significant indebtedness may limit its flexibility and increase its borrowing costs; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intellectual property infringement claims against us; litigation, including product liability claims or litigation related to Environmental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments with respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; changing ESG government regulations including climate-related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic mix of earnings; and changes in trade policy, including tariff and custom regulations or failure to comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor's filings with the SEC for free at the SEC's website (www.sec.gov). Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.
Presentation of non-GAAP information
Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow, and net debt. In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include: material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, financing-related expenses; and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company's CEO and CFO transition; and impacts related to the Russia-Ukraine conflict and conflict in the Middle East.
Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs.
Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company's reporting segments and certain of the measures are used as a component of Amcor's Board of Directors' measurement of Amcor's performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company's outlook and guidance do not contemplate the impact of any potential portfolio optimization actions, including acquisitions, divestitures, or other portfolio actions, that have not been publicly announced as of the date of this release. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort. These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections in connection with the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period.
Reconciliations of Transition Period projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for Transition Period have not been completed.
Reverse Stock Split
On January 14, 2026, the Company filed an amendment to its memorandum of association to effect a 1-for-5 reverse stock split (the "Reverse Split") of the Company's ordinary shares. The Reverse Split became effective on January 14, 2026 and reduced the number of authorized ordinary shares to 1,800,000,000 and increased the par value of the ordinary shares to $0.05 per share. Accordingly, all share and per share amounts for all prior periods presented in the discussion within this release have been adjusted retroactively, where applicable, to reflect the Reverse Split.
Presentation of combined volume performance
In order to provide the most meaningful comparison of results of volume performance by region and end market for Amcor plc and for each of its reportable segments, the Company has included commentary to reflect Amcor's estimate of year-over-year volume performance for the three and twelve months ended June 30, 2026 compared with estimated combined volumes for the legacy Amcor and Berry Global businesses for the three and twelve months ended June 30, 2025. The combined volume performance information has been presented for informational purposes and Amcor believes this information reflects the impact of the combination including allocation of volumes across the combined production footprint since May 1, 2025. For the avoidance of doubt, combined volume performance information is not intended to be, and was not, prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X.
Dividends
Amcor has received a waiver from the ASX's settlement operating rules, which will allow the Company to defer processing conversions between its ordinary share and CDI registers from September 3, 2026 to September 4, 2026 inclusive.
Vestas ve 2. čtvrtletí více než zdvojnásobila provozní zisk (EBIT), zvýšila celoroční výhled provozní marže na 7 až 9 % a oznámila zpětný odkup akcií za 400 milionů eur.
Dánský výrobce větrných turbín Vestas Wind Systems výrazně překonal očekávání trhu a vyslal silný signál, že sektor obnovitelných zdrojů znovu nabírá na síle. Společnost ve druhém čtvrtletí více než zdvojnásobila provozní zisk, zvýšila výhled marží pro letošní rok a oznámila zpětný odkup akcií v hodnotě 400 milionů eur.
Akcie dánského výrobce větrných turbín Vestas Wind Systems vzrostly až o 19 %, což představuje jejich největší jednodenní nárůst od července 2022. Investory potěšilo zvýšení výhledu ziskovosti na letošní rok a oznámení programu zpětného odkupu akcií po výrazném nárůstu nových objednávek turbín.
Provozní zisk před úroky a daněmi (EBIT) po očištění o mimořádné položky vyletěl ve druhém čtvrtletí na 446 milionů eur, tedy více než dvojnásobku toho, co očekávali analytici, proti loňským 57 mil. EUR. Tržby ve výši 4,7 mld. EUR překonaly odhady trhu (4,56 mld. EUR) a rovněž výrazně narostly z loňských 3,7 mld. EUR. A čistý upr. zisk na akcii činil 1,11 EUR z loňských 0,76 EUR/akcie.
Společnost ponechala prognózu celoročních tržeb beze změny a nadále očekává tržby v rozmezí 20 až 22 miliard eur. Nově ale očekává, že její provozní marže za celý rok dosáhne 7 až 9 %, zatímco dříve počítala s rozmezím 6 až 8 %. Společnost zároveň oznámila zpětný odkup akcií v hodnotě 400 milionů eur, který bude probíhat až do konce letošního roku.
Přestože Vestas v posledních letech zvyšovala ceny svých turbín, poptávka neklesá. Objem nových objednávek turbín vzrostl v prvním pololetí o více než 50 % meziročně. A hodnota nevyřízených zakázek (backlog) dosáhla ke konci června 36 miliard eur. Větrný průmysl tradičně zaznamenává silnější aktivitu ve druhé polovině roku, což naznačuje, že rok 2026 by mohl být pro Vestas rekordní.
Dalším pozitivním faktorem pro společnost Vestas je zlepšující se regulatorní prostředí na některých klíčových trzích. V Německu vedly reformy povolovacích procesů k výraznému růstu instalací větrných elektráren. Tento největší evropský trh s elektřinou tak začíná zrychlovat výstavbu nových větrných parků.
Také další země upravují podpůrné programy a pobídky pro rozvoj větrných elektráren budovaných na moři. Zajímavý vývoj je patrný i ve Spojených státech. Přestože prezident Donald Trump dlouhodobě vystupuje proti větrné energetice a snaží se její rozvoj omezovat, prudce rostoucí spotřeba elektřiny způsobená rozvojem AI datových center vytváří silnou poptávku po nových zdrojích energie. CEO Andersen řekl, že „Spojené státy postupně docházejí k závěru: Potřebujeme více všeho.“
Analytici JPMorgan vedení Ahashem Guptou výsledky označili za mimořádně silné. „Vestas vykázala vynikající výsledky za druhé čtvrtletí. Celkově může jít o nejlepší sadu výsledků za několik posledních let.“
Vestas se v posledních letech potýkala s prudkým růstem nákladů a problémy v dodavatelských řetězcích po pandemii covidu-19, což výrazně zasáhlo její ziskovost. Nyní však firma těží z rostoucí poptávky po větrných elektrárnách. Generální ředitel Henrik Andersen v rozhovoru uvedl: „Je to začátek něčeho mnohem většího. Přizpůsobili jsme tomu naše kapacity a jsme připraveni růst a dodávat.“
Constellation Software ve 2Q 2026 zvýšila výnosy o 17 % na 3,34 mld. USD, ale organický růst zůstal nízký a činil 3 % (po očištění o vliv oslabení dolaru 1 %). Čistý zisk připadající akcionářům vzrostl na 274 mil. USD.
Kanadský softwarový holding Constellation Software, který nakupuje, spravuje a dlouhodobě rozvíjí stovky menších firem specializovaných na vertikální tržní software, zveřejnil výsledky za druhý kvartál roku 2026. Výnosy vzrostly meziročně o 17 % na 3,34 mld. USD, těsně pod konsensem trhu, přičemž organický růst zůstal i nadále nízký. Čistý zisk připadající akcionářům se téměř zpětinásobil na 274 mil. USD, k čemuž ale výrazně pomohly nepeněžní účetní vlivy. Společnost současně vyhlásila kvartální dividendu 1,00 USD na akcii.
Výsledky společnosti Constellation Software (CNSWF) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Výnosy (mld. USD) 3,34 3,36 2,84 Čistý zisk (mil. USD) 274 -- 56 Zisk na akcii (EPS, USD/akcie) 12,93 14,39 2,66 Výsledky za 2Q Výnosy vzrostly meziročně o 17 % na 3,34 mld. USD. Za nárůstem stály především akvizice, přičemž organický růst dosáhl 3 %, po očištění o vliv oslabení dolaru vzrostl pouze o 1 %.
Údržba a ostatní opakující se výnosy přidaly 19 % na 2,55 mld. USD. Profesionální služby vzrostly o 8 % na 573 mil. USD, pod očekáváním 598,4 mil. USD. Výnosy z licencí dosáhly 92 mil. USD, přičemž se očekávalo 94 mil. USD. Hardware a ostatní výnosy činily 116 mil. USD oproti konsensu 94,9 mil. USD.
Provozní náklady vzrostly meziročně o 20 % na 2,84 mld. USD.
Čistý zisk připadající akcionářům dosáhl 274 mil. USD proti 56 mil. USD ve stejném období loni, což odpovídá zisku na akcii 12,93 USD (2Q 2025: 2,66 USD). Skokový nárůst je ale z velké části účetní záležitostí. Bez vlivu kurzových rozdílů a přecenění závazku IRGA vzrostl čistý zisk ve 2Q o 8 %.
Provozní hotovostní toky vzrostly meziročně o 10 % na 477 mil. USD. Volné hotovostní toky dostupné akcionářům (FCFA2S) se zvýšily o 57 % na 345 mil. USD.
Akvizice Ve druhém kvartále společnost dokončila řadu akvizic za hotovostní protiplnění 732 mil. USD, k němuž se pojí odložené platby v odhadované hodnotě 160 mil. USD. Celková protihodnota tak činí 893 mil. USD. Nejvýznamnějším uzavřeným obchodem bylo převzetí 91,8 % podílu v hotelové technologické firmě DerbySoft za celkových 392 mil. USD.
Po konci kvartálu Constellation Software dokončil nebo se zavázal k dalším nákupům za 669 mil. USD v hotovosti při uzavření a odložené platby 149 mil. USD, celkem tedy za 818 mil. USD. Nové firmy působí mimo jiné v segmentech bezpečnosti, médií, letectví, pohostinství, dopravy, pojištění, vzdělávání či zdravotnictví.
Dividenda Představenstvo deklarovalo dividendu ve výši 1,00 USD na akcii.
Akcie Akcie Constellation Software jsou primárně kotovány na torontské burze pod tickerem CSU v kanadských dolarech. Klienti Fio banky je mohou obchodovat na americkém mimoburzovním trhu OTC pod tickerem CNSWF.
Akcie Constellation Software (CNSWF) před výsledky na 2 301,03 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 48,8 P/E 43,1 Vývoj za letošní rok (%) -4,1 Očekávané P/E 23,1 52týdenní minimum (USD) 1612,7 Prům. cílová cena (USD) 2667 52týdenní maximum (USD) 3572 Dividendový výnos (%) 0,2 Zdroj: Constellation Software, Bloomberg
C.H. Robinson se odvolá proti verdiktu z Dallasu a tvrdí, že to nezmění jeho strategii, kapitálové priority ani výhled. Firma dál počítá s růstem a odkupem akcií.
GLP-1 Demand Is Creating a New Dividend Angle in These 4 Logistics StocksC.H. Robinson Worldwide NASDAQ: CHRW executives said the company plans to appeal a large jury verdict tied to a fatal accident in Dallas, while maintaining that the outcome will not alter its operating strategy, capital allocation priorities or outlook for its brokerage business.
Speaking at the Chicago Industrials Summit, Chief Executive Officer Dave Bozeman said the company believes the verdict was driven by “emotion than fact” and that the evidence supports its position. He said the final judgment had not yet been entered and could come within 30 to 90 days, after which the company expects to begin its appeal process immediately.
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AI Broke the Trucks: 3 Transports to Buy After the AI PanicBozeman said the appeal could take 18 months to two years and potentially reach the Texas Supreme Court. He added that the presiding judge has discretion to alter elements of the decision before a final judgment is issued, though the company is not expecting that outcome.
Company Cites Carrier Safety Rating, Lack of Driver Contact In discussing the case, Bozeman said the carrier involved had a satisfactory Federal Motor Carrier Safety Administration rating both before and after the accident. He said only 6% of carriers hold that rating and noted that the carrier represented less than 5% of C.H. Robinson’s business while also serving other brokers and shippers.
Is the Grinch Stealing This Year's Holiday Season Jobs? Bozeman and Chief Financial Officer Damon Lee said C.H. Robinson had no communication with the driver and did not control the driver’s actions. Bozeman said the company rescheduled the relevant load for four days later and did not act as a motor carrier in the matter.
Lee said management believes the stock-price reaction assumes both that large “nuclear verdicts” will become routine and that the company will not prevail on appeal. “We don’t believe that’s likely,” Lee said, adding that the company has continued to repurchase its shares and views the price decline as an attractive investment entry point.
The executives argued that a sustained increase in such verdicts would represent a broader risk to logistics and U.S. commerce rather than a company-specific issue. Bozeman said brokers move about 30% of commerce and help connect shippers with small owner-operator carriers. The company is advocating for a federal reasonable-care standard through the Department of Transportation and the FMCSA, along with congressional action on liability rules.
Technology Strategy and Freight-Market Outlook Bozeman described freight demand as mixed, citing areas of activity in technology-related industrial projects and data centers but relatively flat conditions in housing, retail and consumer spending. He said the company remains cautiously optimistic on demand, while characterizing the recent freight-rate shift as primarily supply-driven.
Management said C.H. Robinson’s North American Surface Transportation business has outgrown the Cass Freight Index for 13 consecutive quarters. Lee attributed that performance to a combination of competitive pricing, service levels and the company’s “Lean AI” approach.
Lee said the company has automated responses to transactional freight-quote requests that were previously handled only 60% to 65% of the time. Under the current system, he said, customers receive responses 24 hours a day, seven days a week, while humans remain available to intervene when needed.
Bozeman said C.H. Robinson has automated repeatable back-office tasks such as tracking and quoting, rather than eliminating customer-facing support. He said the shift has enabled employees to focus on supply-chain solutions and customer relationships, contributing to a 60% productivity improvement since 2022.
Margins, Consolidation and Capital Allocation Lee said the company has established mid-cycle adjusted gross profit margin targets of 40% for North American Surface Transportation and 30% for Global Forwarding. He said reaching those levels provides more flexibility to pursue growth opportunities selectively while maintaining return standards.
The CFO said the company expects truckload spot rates to remain elevated as capacity leaves the market and regulatory conditions limit its return. Management also said legal and insurance pressures could accelerate consolidation among smaller brokers and carriers. Bozeman said more than 20% of brokers have exited in recent years amid broader market conditions, and Lee said shippers appear to be reducing the number of brokers they use in favor of larger providers.
On insurance, Lee said C.H. Robinson expects inflationary pressure but does not see the extreme increases suggested by some bearish scenarios in preliminary discussions with insurers. He said the company has managed elevated insurance costs for years and expects any broad increase in freight-related costs ultimately to be reflected in freight pricing.
Management also highlighted its less-than-truckload business, which Lee said generates more than $3 billion in revenue and has continued to gain share. The company said its ability to optimize shipments between truckload and LTL services provides flexibility that pure-play providers may not have.
Looking ahead, Bozeman said C.H. Robinson intends to continue applying its operating model to Global Forwarding, pursue innovation and evaluate acquisitions with financial discipline. Lee said the company’s capital allocation strategy remains unchanged following the verdict, including opportunistic share repurchases and consideration of both tuck-in and larger-scale acquisition opportunities.
About C.H. Robinson Worldwide (NASDAQ:CHRW)C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world's largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.
The company's primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.
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Tchajwanský výrobce elektroniky Foxconn zveřejnil výrazně lepší výsledky, než očekával trh, když ve druhém čtvrtletí zvýšil čistý zisk o 35 % a tržby o 41 %. Hlavním motorem růstu byla pokračující expanze datových center a prudce rostoucí poptávka po serverech určených pro umělou inteligenci, které firma vyrábí mimo jiné pro společnost Nvidia.
Největší smluvní výrobce elektroniky na světě Foxconn ve druhém čtvrtletí zvýšil čistý zisk o 35 procent na 59,97 miliardy tchajwanských dolarů (39,1 miliardy Kč). Výsledky výrazně překonaly očekávání analytiků, a to díky prudkému růstu poptávky po serverech pro umělou inteligenci (AI) využívaných v datových centrech. Foxconn, jehož oficiální název je Hon Hai Precision Industry, to uvedl v dnešní tiskové zprávě. Firma působí i v České republice.
Analytici podle společnosti LSEG očekávali zisk 58,8 miliardy tchajwanských dolarů. Tržby se zvýšily o 41 procent na 2,53 bilionu tchajwanských dolarů.
Foxconn je známý zejména jako největší smluvní výrobce chytrých telefonů iPhone pro americkou firmu Apple. Zároveň je největším výrobcem serverů pro amerického výrobce čipů Nvidia. Kromě spotřební elektroniky a počítačů se snaží proniknout i do výroby elektromobilů a komponent pro ně či do oblasti robotiky.
Firma potvrdila předchozí prognózu, podle které letos očekává silný růst tržeb. Hnací silou růstu má být silná poptávka po AI.
Vlády a technologičtí giganti investují obrovské částky do výstavby datových center, která mohou trénovat a provozovat nástroje AI, jako jsou chatboty, generátory obrázků či agenty schopné provádět úkoly. To výrazně nastartovalo podnikání firmy Foxconn, která vyrábí servery používané v datových centrech, napsala agentura AFP.
Akcie společnosti od začátku letošního roku vzrostly přibližně o 17 procent. Zaostávají tak za růstem širšího indexu tchajwanské burzy, který vzrostl o 57 procent.
Společnost Foxconn od roku 2000 působí také v České republice, kde patří k největším podnikům podle objemu tržeb. Zároveň pravidelně figuruje na předních místech v žebříčku největších exportérů. V závodech v Pardubicích a Kutné Hoře vyrábí počítače, spotřební elektroniku a součástky pro řadu světových značek.
Tencent vykázal ve 2. čtvrtletí růst tržeb o 11 % na 204,8 miliardy jüanů. Čistý zisk vzrostl jen o 0,7 % na 56 miliard jüanů a zaostal za odhady 61,8 miliardy jüanů.
The Tencent logo at the company's headquarters during a government‑organised media trip in Shenzhen, Guangdong province, China, April 17, 2026. REUTERS/Go Nakamura Purchase Licensing Rights, opens new tab
BEIJING, Aug 12 (Reuters) - Tencent Holdings (0700.HK), opens new tab reported an 11% rise in second-quarter revenue on Wednesday, driven by strong advertising sales and steady gaming income, as the Chinese technology giant ramps up AI spending.
For the three months to the end of June, the Shenzhen-based gaming and internet company reported revenue of 204.8 billion yuan ($30.36 billion), in line with analyst estimates of 202.2 billion yuan, according to LSEG data.
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Net profit rose only 0.7% from a year earlier to 56 billion yuan, falling short of analyst expectations of 61.8 billion yuan.
Investors have been focused on whether Tencent's heavy AI spending is starting to generate returns, or merely weighing on margins.
Capital expenditure totalled about 79 billion yuan last year, up from 77 billion yuan in 2024, and the company has signalled AI investment will step up further in the second half of this year.
The results come amid an accelerating AI product push by Tencent, which competes with the likes of ByteDance and Alibaba (9988.HK), opens new tab.
The company has built up a broad portfolio of AI products, including the Yuanbao chatbot and the WorkBuddy office assistant.
Revenue from value-added services, which include Tencent's gaming business, rose 8% to 98.4 billion yuan. Domestic games revenue grew 17% to 47.3 billion yuan supported by titles including "Honor of Kings" and "Delta Force", while international games revenue was down 0.8% to 18.6 billion yuan due to foreign currency movements.
Marketing services revenue climbed 22% to 43.6 billion yuan, as AI upgrades continued to boost advertising and pricing within its Weixin ecosystem, the network that combines messaging, payments and social media, among other services.
Fintech and business services revenue rose 9% to 60.3 billion yuan, with cloud demand for AI-related services remaining a key driver.
In July, Tencent released Hy3, the latest version of its Hunyuan AI model, and last week opened it to users worldwide. It has also been testing an AI assistant inside its WeChat social media app since June.
Capital expenditure in the June quarter was 52.8 billion yuan, compared with 31.9 billion yuan in the first quarter.
($1 = 6.7449 Chinese yuan renminbi)
Reporting by Liam Mo and Eduardo Baptista; Editing by Joe Bavier and Keith Weir
Our Standards: The Thomson Reuters Trust Principles., opens new tab
The artificial intelligence (AI) boom has created a tremendous amount of value for investors over the last few years, but not every stock in this space has been a winner. SoundHound AI (SOUN -0.67%) stock, for example, soared to an all-time closing high of $24.23 in late 2024 but has since plummeted 67% to close at just $8 last Friday, Aug. 7.
The company is a leading developer of conversational AI software, with a growing list of customers that includes some of the biggest names in hospitality, automotive manufacturing, financial services, and more. SoundHound stock is still trading at an elevated valuation despite its sharp decline, but that could change after the company completes a major strategic acquisition later this year, which will provide a substantial boost to its revenue.
Should investors buy the stock today, or is there more downside ahead?
Image source: The Motley Fool.
Conversational AI is transformative for businesses Over the last few years, SoundHound's out-of-the-box products have helped businesses deploy voice-activated AI systems into their daily operations. Restaurant chains like White Castle and Panda Express use them to accept orders autonomously in-store, over the phone, and at the drive-thru, while car companies like Hyundai and Stellantis use them to power intuitive voice assistants in their latest vehicles.
But in May, SoundHound launched an entirely new platform called the Orchestrated Agent System (OASYS), which enables its customers to build custom AI voice agents to handle customer inquiries, process transactions, and assist human employees in solving complex problems.
OASYS is built on SoundHound's proprietary foundational speech recognition model, unlike many other AI software products that simply use models from third parties such as OpenAI and Anthropic. Agents built on OASYS also continually learn and improve as they become more familiar with a particular enterprise. These features are appealing to businesses seeking to differentiate their AI products from those of competitors.
SoundHound just increased its 2026 revenue forecast SoundHound generated $61.9 million in revenue during the second quarter of 2026 (ended June 30), a 45% increase from the year-ago period. It was also 10 times the revenue the company generated in the same quarter four years ago, which was its first quarter as a public company. Simply put, it has come a long way.
The second-quarter result was so strong that SoundHound increased its full-year revenue guidance for 2026 to $245 million, up from $242.5 million in its previous forecast (at the midpoint of the respective ranges).
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But SoundHound's revenue could receive a significant boost once it completes its acquisition of another AI enterprise, LivePerson, which is expected to close before the end of this year. Management is targeting revenue of $350 million to $400 million in 2027 due to the deal, representing a 53% increase (at the midpoint) from the company's projected 2026 result.
SoundHound's main challenge is balancing growth and profitability, because scaling an AI software business isn't cheap. The company suffered a generally accepted accounting principles (GAAP) net loss of $42.8 million during the second quarter. While that was a strong improvement from its year-ago loss of $74.7 million, there is still a lot of work to do before the business trades in the black.
SoundHound even lost $9.6 million by its preferred measure of profitability, adjusted (non-GAAP) earnings before interest, tax, depreciation, and amortization (EBITDA), which excludes one-off and noncash expenses such as stock-based compensation. Fortunately, the company had $203 million in cash on hand and no debt at the end of the second quarter, allowing it to sustain these losses for the foreseeable future. But it will have to reach profitability in the next few years if it wants to avoid asking investors for more money.
SoundHound's stock is pricey, despite its decline SoundHound stock currently trades at a price-to-sales (P/S) ratio of 16.7, so despite its 67% decline, it's still notably more expensive than many other AI software stocks. Moreover, the Nasdaq-100 has a P/S ratio of just 6.3, so SoundHound is more than twice as expensive as a basket of America's top technology stocks.
SOUN PS Ratio data by YCharts
Even if we assume SoundHound will generate $400 million in revenue during 2027, its forward P/S ratio would still be 8.7. That makes it a tough investment right now, given the small risk that the LivePerson deal won't officially close due to regulatory issues. There is also execution risk, meaning we don't know if LivePerson's business will be as synergistic with SoundHound's existing operations as expected.
For those reasons, I think investors might be better off waiting on the sidelines for a better opportunity. If there is a correction in the broader market, SoundHound stock could decline even further, which might be a good opportunity to pounce.
Michael Burry oznámil krátkou pozici na Nebius (NBIS), která tento týden zveřejní výsledky. Firma zároveň čelí vysokému ocenění a dluhu, i když její tržby v 1. čtvrtletí meziročně vyskočily o 684 % na 399 milionů USD.
Michael Burry of The Big Short fame recently announced that he had opened a short position on Nebius (NBIS +4.95%), which is set to report earnings this week. While the artificial intelligence (AI) build-out is a major catalyst, Nebius' high valuation and massive debt load have kept some investors away from the stock. But by making his negativity about the stock public, Burry has created more tension for shares.
Although Burry was depicted as a genius in print and on the big screen for anticipating the subprime mortgage crisis, he hasn't gotten every investment call right. This may be one of his misses.
Image source: Getty Images.
Nebius is in the right place at the right time The rising use of artificial intelligence is being supported both by hyperscalers like Microsoft (MSFT -0.45%) and neoclouds like Nebius that can supply AI data centers, chips, and power. Previously existing data centers are limited in what they can do to support AI workloads, and while tech giants have been scrambling to build their own, specialists like Nebius have been finding customers for their compute power, too.
Meta Platforms (META +0.71%) is building a 5-gigawatt facility in Louisiana that will cost more than $50 billion. Microsoft is also working on its Fairwater AI data center, which is expected to be drawing 3.3 gigawatts of electricity by late 2027 -- more than is used to power the city of Los Angeles.
Nebius is already deep into the process of developing multiple AI data centers, and it's generating revenue from some of its facilities. As the company brings more of its compute capacity online, it will realize more revenue from long-term deals it has signed with Meta Platforms, Microsoft, and other tech leaders.
News from the memory chip market indicates that the data center build-out's momentum is not expected to slow down anytime soon. SK Hynix (SKHY +4.70%) recently announced that it is investing $38 billion to build two new memory chip plants due to high and rising demand from the AI data center market. The pace at which new data centers are being built indicates that demand remains robust for compute power of the type that Nebius provides.
Addressing the neocloud's debt One of the main issues that understandably concerns potential investors in Nebius is how much money the company has borrowed to fund its own data center construction. The company's long-term debt more than doubled sequentially from $4.1 billion in Q4 2025 to $8.4 billion in Q1 2026. That figure does not include the company's $1 billion in long-term operating lease liabilities.
Yet its revenues surged by 684% year over year in the first quarter, reaching $399 million. Nebius is delivering substantial top-line growth, but it's still reporting net operating losses. Investors must consider what type of growth rates they think would be necessary to justify the current stock price in the context of the company's debt load.
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On the bright side, all of that debt has left it with $9.3 billion in cash on its books -- that figure, too, more than doubled sequentially. How effectively Nebius uses that cash will heavily determine whether its big bet on debt financing pays off. The expansive nature of the AI build-out suggests a positive outcome for the company is likely in the long run. While short-sellers might profit due to short-term volatility, the long-term picture for this neocloud is still solid.
Brinker International zveřejní čtvrtletní výsledky před otevřením trhu ve středu 12. srpna; analytici čekají EPS 3,08 USD a výnosy 1,53 miliardy USD. Akcie v úterý klesly o 2,7 % na 221,38 USD.
Brinker International, Inc. (NYSE:EAT) will release its fourth quarter earnings report before the opening bell on Wednesday, Aug. 12.
Analysts expect the Dallas, Texas-based company to report quarterly earnings of $3.08 per share, up from $2.49 per share in the year-ago period. The consensus estimate for Brinker’s quarterly revenue is $1.53 billion. It reported $1.46 billion last year, according to Benzinga Pro.
On April 29, Brinker International reported better-than-expected third-quarter earnings.
Shares of Brinker fell 2.7% to close at $221.38 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
UBS analyst Dennis Geiger maintained a Buy rating and raised the price target from $190 to $260 on Aug. 10, 2026. This analyst has an accuracy rate of 60%. Citigroup analyst Jon Tower maintained a Buy rating and boosted the price target from $189 to $227 on July 28, 2026. This analyst has an accuracy rate of 74%. Evercore ISI Group analyst David Palmer maintained an Outperform rating and increased the price target from $210 to $230 on July 23, 2026. This analyst has an accuracy rate of 61%. TD Cowen analyst Andrew M. Charles maintained the stock with a Buy rating and raised the price target from $170 to $210 on July 20, 2026. This analyst has an accuracy rate of 50%. Wells Fargo analyst Zachary Fadem maintained the stock with an Overweight rating and increased the price target from $200 to $220 on July 16, 2026. This analyst has an accuracy rate of 78% Considering buying EAT stock? Here’s what analysts think:
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Canopy Growth po akvizici MTL Cannabis a úsporách přes C$30 milionů zrychluje expanzi v Evropě, hlavně v Německu, Polsku a Británii. V Evropě chce zvýšit roční tempo zhruba C$10 milionů za čtvrtletí, tedy asi C$40 milionů ročně, na více než C$100 milionů.
The 2026 Cannabis Wildcard: How Tax Reform Could Reset Stock ValuationsCanopy Growth NASDAQ: CGC is positioning itself for further expansion in medical cannabis, European markets and Canadian recreational cannabis after restructuring operations, reducing costs and acquiring MTL Cannabis, President and CEO Luc Mongeau said during a Canaccord Genuity presentation.
Mongeau, who has served as CEO for 18 months, said the company has shifted its focus toward operating as a consumer cannabis business rather than prioritizing cash management and pursuing opportunities across too many markets. He said Canopy reduced costs by more than C$30 million, refinanced the organization, strengthened its management team and acquired MTL Cannabis.
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Constellation Brands: A Fallen Star or a Hidden Value Play?“We are really taking the next few critical step to position Canopy Growth to really win in the global cannabis market,” Mongeau said.
Growth Across Canadian and European Operations Mongeau said Canopy holds the No. 1 position in Canadian medical cannabis and has improved its standing in the Canadian adult-use market. The company was ranked No. 10 in Canadian recreational cannabis when he joined, moved to No. 8 after streamlining operations and now ranks No. 6 following the MTL Cannabis acquisition, according to Mongeau. Its goal is to become a top-three player in the market.
Profit from the Green Wave: Top Cannabis Stocks to WatchWhile acknowledging that Canadian recreational cannabis is a relatively mature market, Mongeau described it as a roughly C$5 billion market growing at 3% to 5%. He expects the industry to consolidate, noting that more than 1,000 licensed producers currently operate in Canadian recreational cannabis. He said the market could ultimately be led by approximately seven major participants.
For fiscal 2026, Canopy reported 20% growth in Canadian adult-use cannabis and 18% growth in its medical business, Mongeau said. For the first quarter of fiscal 2027, he said consolidated revenue rose 13%, including:
10% growth in Europe; 10% growth in Canadian recreational cannabis; 22% growth in Canadian medical cannabis; and 6% growth at Storz & Bickel, its medical vaporizer business. Mongeau also said the company’s gross margin reached 31% in its latest quarterly results, representing a 600-basis-point improvement from the prior year. During the discussion, the operator characterized the most recent margin level as “36-ish percent,” but Mongeau specifically cited 31% during his presentation.
MTL Cannabis Acquisition Targets Flower Supply and Quality A central component of Canopy’s strategy is improving cultivation output and flower quality. Mongeau said Canopy had not historically treated cultivation as a core operational priority, which contributed to supply constraints and inconsistent availability in international markets.
MTL Cannabis brought cultivation expertise and “passion for the plant” into the company, Mongeau said. Canopy is investing in systems, processes and capital expenditures intended to increase yields and production by as much as 30%, creating additional supply for markets including Europe.
“You need great flower consistently to win,” Mongeau said, adding that the company’s operating reviews and systems are now centered on producing higher-quality flower.
Chief Financial Officer Tom Stewart said less than 20% of Canopy’s flower production is currently exported. He said the company is integrating MTL’s operations with Canopy’s facilities and production footprint to eliminate overlap, reduce costs and improve the quality of products supplied to consumers and patients.
Canopy has three cultivation facilities and is converting a hybrid facility to fully indoor cultivation, Mongeau said. The company is cultivating in Canada at facilities certified under European Union Good Manufacturing Practice, or EU GMP, standards.
Europe Seen as Major Opportunity Mongeau identified Europe as Canopy’s largest near-term opportunity, particularly Germany, Poland and the United Kingdom. He said Canopy has invested in sales teams, distribution relationships, brands and connections with pharmacists and doctors, but its progress in Europe had been hampered by inventory shortages.
In Poland, Canopy recently returned to inventory availability and rose to the No. 3 market position, Mongeau said. The company is also making its first shipment to the United Kingdom during the current quarter, with related sales expected to appear in the third quarter.
Canopy’s European business is currently operating at approximately C$10 million per quarter, or about C$40 million annually, according to Mongeau. He said the company is targeting a run rate of more than C$100 million, and eventually C$100 million to C$150 million annually, supported primarily by Germany.
The company’s supply chain is EU GMP-compliant from cultivation through importation into Germany, repackaging and distribution, Mongeau said. He said Canopy is also working to qualify its Smiths Falls facility to produce EU GMP-compliant cannabis 2.0 products, including softgels, oils, concentrate distillates, vapes and eventually pre-rolls.
Stewart said Europe offers more attractive pricing than Canada and could support premium offerings based on MTL Cannabis flower quality. Rather than compete primarily in value-priced products, Canopy plans to focus on premium categories, he said.
Brands and Vaporizer Expansion Mongeau said Canopy plans to use its Tweed and Spectrum brands to compete in premium European medical cannabis segments. He said Germany continues to have a sizable price band of roughly €5 to €7 that has remained resilient despite broader pricing discussion in the market. Recent German research showed positive attitudes toward Tweed, Spectrum and MTL brands, he said.
Canopy also sees expansion potential for Storz & Bickel, which Mongeau described as the leading herbal medical vaporizer company. The company is pursuing innovation in concentrate vaporizers, a category Mongeau said is substantially larger than herbal vaporizers.
Overall, management said it is prioritizing cultivation, operating efficiency and a controlled expansion of its EU GMP supply chain rather than rapidly entering every emerging European market. Stewart said those foundational investments should benefit additional markets as they open.
About Canopy Growth (NASDAQ:CGC)Canopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.
The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.
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Check Point očekává, že v roce 2027 výrazně porostou výdaje na kyberbezpečnost s využitím AI, protože firmy přejdou od experimentů k cíleným rozpočtům. Firma zároveň vidí AI Network Firewall jako nový produkt s vyšší cenou předplatného.
Time to Buy These Up-and-Coming Software Firms?Check Point Software Technologies NASDAQ: CHKP sees 2027 as a potentially significant year for artificial intelligence-related cybersecurity spending as customers move from experimentation toward more deliberate budgeting, according to Global Head of Investor Relations Kip Meintzer.
Speaking at an investor event, Meintzer said organizations had redirected spending from other budget areas to fund AI initiatives during the current year. However, as companies prepare annual operating plans for next year, he expects more dedicated AI spending, including investments in AI security.
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Is CoStar Group Stock a Buy Before Earnings? Analysts Think So“Without security, you’re in a little heap of trouble,” Meintzer said, adding that companies and AI model developers have increasingly recognized the risks associated with deploying AI without adequate protections.
Go-to-Market Changes and Second-Half Outlook Meintzer said Check Point’s second-quarter execution during its go-to-market transition “could’ve been better,” though he said the company now has a better handle on the third and fourth quarters. He pointed to the company’s guidance and pipeline indicators as evidence that conditions are moving in the right direction.
Sentinel One Stock Is the Growth Story Goldman Sachs Is BuyingThe go-to-market changes are designed to focus more resources on larger customers and new-logo opportunities. Existing large accounts are receiving more dedicated account-manager coverage, while sales “hunters” pursuing new logos are being given multiyear contracts rather than being measured solely on a one-year timetable.
Meintzer said the longer sales time frame is intended to allow representatives to build relationships and pursue larger enterprise opportunities without being rushed. He said the organizational changes, including new sales overlays, staffing adjustments and continued hiring, contributed to disruption during the transition.
Check Point has said it expects to hire an additional 300 employees by year-end, representing a net increase of about 150 employees after other workforce changes. Meintzer said the company expects to enter 2027 “on the ground and running.”
For the third quarter, Meintzer said Check Point views the period as a trough largely because of difficult comparisons, particularly around billings. He said the company has informed investors that a couple of large third-quarter deals could be pushed out. Still, he described the fourth-quarter pipeline as looking like “a complete home run,” supported by sales teams that have now spent roughly two quarters working with their assigned accounts.
AI Network Firewall and Growing Traffic Meintzer said broader AI adoption should drive higher network traffic and increase the need for security. He highlighted Check Point’s AI Network Firewall, which is available now and can be deployed through a software upgrade and subscription for customers using compatible existing hardware. Customers must be on the latest software revision to add the subscription, or they can purchase a new system with the capabilities included.
The subscription for the AI Network Firewall will carry a higher price than previous subscriptions, he said. Meintzer said it was too early to determine whether the offering would primarily lead customers to upgrade existing systems or purchase new hardware.
According to Meintzer, the product is differentiated by its ability to address threats from both outside and inside an organization, including data-loss-prevention capabilities for applications, Model Context Protocol server protections and the ability to identify shadow AI. He said competitors may need to rely on secondary technologies or virtual instances to provide similar capabilities, while some may not offer them within their products.
“It’s brand new, so we’ll have to see how the adoption goes,” Meintzer said.
Platform Strategy, Subscription Revenue and M&A Check Point continues to position itself as a platform provider but is pursuing an “Open Garden” approach rather than requiring customers to standardize exclusively on its products, Meintzer said. He cited the company’s continuous threat exposure management, or CTEM, offering and its Veriti acquisition, which provides virtual patching for more than 70 competing products.
Meintzer said the strategy allows Check Point to help secure a customer’s broader environment even when that environment includes competitors’ technologies. He described CTEM as the company’s fastest-growing product, while noting that it remains relatively small compared with the company’s overall business.
On subscription revenue, Meintzer said growth could flatten temporarily because of pressure on attached services before accelerating again. He said unattached subscriptions, which include SASE, CTEM, endpoint, Avanan, Workspace and AI-related offerings, represent more than 30% of subscription revenue and could eventually account for 50% of that line.
He said Check Point’s SASE product is “enterprise ready” and is continuing to improve. The company expects the offering could begin to make a greater difference in the coming year.
Meintzer also said Check Point has the cash and appetite to pursue a larger acquisition, though it will not force a transaction. Any acquisition would need to make strategic sense and improve the company’s offerings. He said mergers and acquisitions are not essential to reaching the company’s double-digit growth objective, but could accelerate progress toward that goal.
Ultimately, Meintzer said the company’s growth ambitions depend primarily on go-to-market execution, including sales and marketing. He also said AI-driven capacity needs and Check Point’s differentiated offerings could support an accelerated refresh cycle in the future.
Meintzer highlighted Maestro as another differentiator, particularly for large-capacity networks. He said the product is frequently discussed by customers and is well suited to high-end deployments, including neocloud environments.
About Check Point Software Technologies (NASDAQ:CHKP)Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point's product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.
Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).
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XRP, haftalık kayıplarını yaklaşık yüzde 7’ye taşırken yıl başından bu yana yaşadığı düşüş yüzde 69,4’e ulaştı. XRP böylece 2024’ün son çeyreğinde 1 dolar seviyesinin üzerine çıkmasından bu yana en düşük fiyat bölgesine geriledi. Mevcut görünüm, altcoin için 1 dolar desteğinin yeniden test edilmesi ve aşağı yönlü kırılması riskini artırıyor.
Fiyat baskısının arkasında yalnızca teknik göstergeler bulunmuyor. XRP Ledger üzerindeki ağ aktivitesinin zayıflaması, ABD’de kripto düzenlemelerine ilişkin Clarity Act sürecinin ertelenmesi ve XRP ETF’lerine yönelik girişlerin belirgin biçimde yavaşlaması satış baskısını güçlendiriyor.
XRP 1 Dolar Desteğini Koruyabilecek Mi? XRP’nin teknik görünümü Temmuz 2025’te 3,658 dolarla kaydettiği zirvenin ardından bozulmaya başladı. Altcoin, Ekim 2025’te yaşanan düşüş yönlü hareketli ortalama kesişiminin ardından da aşağı yönlü trendini sürdürdü.
Mevcut durumda XRP, 9 ve 21 günlük basit hareketli ortalamalarının altında işlem görüyor. Para Akış Endeksi (MFI) ise 20,42 seviyesine gerileyerek aşırı satım bölgesine girdi. Göstergedeki bu zayıflama, piyasadan sermaye çıkışının arttığını ve 1 doların altına sarkma riskinin yükseldiğini gösteriyor.
XRP’nin son dönemde gördüğü 1,0049 dolarlık seviye de dikkat çekiyor. Kasım 2024’ten bu yana görülen en düşük fiyat olan bu bölge, yatırımcı psikolojisi açısından uzun vadeli bir eşik niteliği taşıyor ve son iki yıla yakın dönemin en güçlü negatif görünümüne işaret ediyor.
Clarity Act Ve ETF Akışları Neden Önemli? XRP’deki zayıflığı yalnızca fiyat grafiği üzerinden değerlendirmek yeterli değil. Kripto para piyasası açısından ABD’deki düzenleyici gelişmeler ve kurumsal talep de mevcut görünüm üzerinde etkili oluyor.
Clarity Act sürecinin ertelenmesi, ABD’de kripto varlıkların benimsenmesine yönelik beklentileri baskıladı. Bu gelişmeyle birlikte XRP ETF’lerine yönelik sermaye girişleri de belirgin biçimde yavaşladı. 2025’in sonlarında haftalık girişler 100 milyon doların üzerindeyken, son dönemde bu rakam birkaç milyon dolara kadar geriledi.
Son haftada XRP ETF’lerine yalnızca 14,86 milyon dolarlık net giriş gerçekleşti. Dolayısıyla kurumsal taraftaki talebin önceki dönemlere kıyasla ciddi biçimde zayıflaması, XRP fiyatı üzerindeki baskıyı artıran faktörlerden biri olarak öne çıkıyor.
XRP Ledger Aktivitesinde Ne Kadar Gerileme Var? XRP’nin temel görünümünü değerlendirmek isteyen yatırımcılar için ağ aktivitesindeki değişim de önemli bir gösterge oluşturuyor. Aylık aktif adres sayısı son dönemde yüzde 9,40 azalırken metrik 175,1 bin seviyesine geriledi.
Bu rakam, Aralık 2024’te kaydedilen 654,2 bin aktif adrese kıyasla yaklaşık yüzde 73’lük bir düşüş anlamına geliyor. Ağdaki kullanıcı aktivitesinin bu ölçüde gerilemesi, XRP ekosistemine yönelik kullanım talebinin zayıfladığına dair önemli bir sinyal veriyor.
Aylık token işlem hacmi de yüzde 38,7 düşerek 29,6 milyar dolara indi. Bununla birlikte XRP’nin günlük borsa işlemlerinin ortalama değeri yaklaşık 1 milyar dolar seviyesinde kalıyor.
XRP’de Likidite Ve Ücretler Ne Söylüyor? XRP Ledger üzerindeki işlem ücretleri de ağ kullanımındaki zayıflığı destekliyor. Son bir yıl içinde ağdaki ücret geliri 111,387 bin dolardan yaklaşık 10 bin dolara geriledi. Böylece ücretlerde yaklaşık on katlık bir düşüş meydana geldi.
Zincirdeki likidite görünümü de benzer şekilde baskı altında. XRP Ledger üzerindeki stablecoin piyasa değeri 855,6 milyon dolara düşerken toplam değer yüzde 14,8 azaldı. Bu gerileme, ağ üzerindeki stablecoin talebinin de zayıfladığını gösteriyor.
Dolayısıyla XRP için 1 dolar seviyesi yalnızca teknik bir destek olarak değil, mevcut piyasa koşullarının test edileceği kritik bir psikolojik eşik olarak öne çıkıyor.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
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3 Small-Cap Stocks on the Way to Bigger and Better DaysCentral Garden & Pet NASDAQ: CENT executives said the company is entering a period of record profitability, expanding margins and increased acquisition activity as it simplifies its operating structure and pursues growth in pet and garden products.
Speaking at Canaccord’s 46th Annual Growth Conference, Chief Executive Officer Niko Lahanas said the company’s year-to-date results included record earnings, EBIT, EPS, cash flow and cash balances. He said the Garden segment posted a record quarter and that the company’s fiscal third-quarter EPS was its second-highest ever, despite what he described as a difficult comparison period.
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MarketBeat ‘Stock of the Week’: Central Garden & Pet Lahanas also pointed to Central Garden & Pet’s pending acquisition of an 80% interest in European pet-supplies company TRIXIE, which he said is expected to close in January or February of next year. The transaction represents a major international expansion for the company, bringing foreign-exchange exposure as well as a presence in Europe.
TRIXIE Deal Expands European Pet Presence Lahanas described TRIXIE as Europe’s largest pet-supplies business and said combining it with Central’s operations would create what he called the largest global pet-supplies business. He said the transaction offers a platform for further European consolidation, citing a fragmented market and lower acquisition multiples than those seen in the U.S.
Growth Ahead for Central Garden & PetThe CEO said TRIXIE also increases Central’s exposure to cat products, an area where the company’s existing presence is limited. About 20% to 25% of TRIXIE’s business is related to cats, according to Lahanas. He said Central sees continued opportunity in cat products, citing cats’ lower-maintenance nature for consumers.
Central ended its fiscal third quarter with nearly $1 billion in cash and has not tapped its asset-based lending facility, giving it nearly $2 billion of available capital, Lahanas said. He estimated the TRIXIE transaction could total more than $400 million, assuming earn-out payments are achieved.
“Deals beget deals,” Lahanas said, adding that Central has received more inbound acquisition interest following the TRIXIE announcement. He said the company has completed more than 60 acquisitions over its 40-year history and considers M&A a core part of its strategy, particularly in mature categories where acquisitions can alter competitive positioning more quickly than organic growth alone.
Simplification Efforts Support Margins Management attributed improving profitability in part to cost reductions, logistics consolidation and portfolio optimization. Lahanas said the company has focused on exiting or restructuring businesses where it lacks a “right to win” or where channel dynamics have changed structurally.
Central recently announced the divestiture of its pet distribution business through a joint venture in which it will retain a 20% stake. Lahanas said the distribution operation had a large customer base, a SKU count approaching 40,000, fuel exposure, trucking costs and workers’ compensation costs, while generating relatively low margins.
The joint venture structure will preserve Central’s access to independent pet retailers and the product innovation taking place in that channel, while keeping the business out of its consolidated financial results, he said. Lahanas added that independent pet retailers face pressure from food, drug and mass retailers, e-commerce, convenience and subscription models.
He said Central has structurally improved its profitability, noting that the pet business has a gross margin “with a four in front of it” and EBITDA margins of approximately 19% on the pet side. The Garden business can generate similar margins during its season, he said.
Garden Portfolio Helps Offset Weather Volatility Jason Barnes, executive vice president of Garden Consumer Products, said Central’s garden portfolio differs from competitors because of its breadth. In addition to categories shared with companies such as The Scotts Miracle-Gro Company and Spectrum Brands, Central operates in wild bird, live goods and packet seeds.
That diversification can help moderate weather-related volatility, Barnes said. Wild bird products, for example, can perform better in colder conditions than traditional spring garden categories.
Weather remained a major factor during the most recent garden season. Barnes said a strong March and early April gave way to a difficult May, as the market shifted from cold and wet weather to a heat dome without a typical spring period. He said the company’s ability to manage costs and its profit-and-loss structure helped it navigate the volatility and still deliver a record Garden quarter.
Executives also highlighted continued strength in wild bird products. Lahanas said the category gained younger consumers during the pandemic and has remained resilient. Central introduced its Feeding Frenzy product line at Walmart roughly a year ago, supported by new packaging and digital marketing.
E-Commerce, Data and Value Remain Priorities E-commerce accounts for about 26% of Pet sales and about 10% of Garden sales, Lahanas said. Barnes said Central expects Garden e-commerce penetration to expand by another 200 basis points this year, supported by its direct-to-consumer pest-control capabilities and growth across both pure-play and omnichannel retail.
Beyond acquisitions and share repurchases, Central plans to invest in its data infrastructure, artificial intelligence capabilities, logistics network and robotics. Lahanas said the company’s acquisition history has left data insufficiently integrated, and management sees improved data organization as necessary to use AI tools effectively.
On consumer demand, Lahanas said shoppers remain focused on value, particularly at the lower end of the income spectrum. He cited the company’s Bully Hide pet product and The Rebels value-tier grass seed brand as examples of products designed to provide lower-priced options while maintaining quality.
About Central Garden & Pet (NASDAQ:CENT)Central Garden & Pet NASDAQ: CENT is a leading North American specialty retailer, manufacturer and distributor serving the lawn and garden and pet supplies markets. The company operates through two primary segments: Pet and Garden. In the Pet segment, Central Garden & Pet offers a comprehensive range of products including pet food, treats, accessories, training products and habitat solutions for dogs, cats, birds, fish and small animals. The Garden segment encompasses a wide array of lawn, garden and outdoor living products, such as soils, fertilizers, planters, pest control solutions, landscape lighting and watering equipment.
Central Garden & Pet's product portfolio includes both proprietary and branded offerings.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Reinsurance Group of America má od 11 analytiků konsenzus „Moderate Buy“. Firma zároveň oznámila za čtvrtletí EPS 8,89 USD a tržby 6,64 mld. USD, což překonalo odhad zisku na akcii.
Reinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report) has been given an average rating of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $257.1111.
Several research analysts have recently commented on the stock. Evercore reissued an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. TD Cowen boosted their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th.
Get Our Latest Research Report on Reinsurance Group of America
Reinsurance Group of America Price Performance RGA opened at $244.55 on Wednesday. The stock’s 50-day moving average price is $224.17 and its 200 day moving average price is $214.35. Reinsurance Group of America has a 12-month low of $178.21 and a 12-month high of $248.13. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 10.74 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.39. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.Reinsurance Group of America’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.72 EPS. As a group, sell-side analysts expect that Reinsurance Group of America will post 26.84 earnings per share for the current year.
Reinsurance Group of America Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s payout ratio is presently 16.34%.
Insider Activity In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.
Institutional Trading of Reinsurance Group of America Hedge funds have recently added to or reduced their stakes in the company. Foster & Motley Inc. purchased a new position in Reinsurance Group of America in the second quarter worth approximately $1,049,000. Bank of New York Mellon Corp purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $82,836,000. Wedge Capital Management L L P NC raised its holdings in shares of Reinsurance Group of America by 965.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock valued at $38,158,000 after purchasing an additional 162,594 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Reinsurance Group of America by 4.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 17,900 shares of the insurance provider’s stock valued at $3,806,000 after purchasing an additional 800 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in shares of Reinsurance Group of America by 9.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 702 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.
About Reinsurance Group of America (Get Free Report)
Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.
RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.
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Worksport zveřejnil výsledky hospodaření za 2. čtvrtletí 2026 a podal zprávu o provozním pokroku a strategických prioritách. Současně podal i formulář 10-Q za období končící 30. června 2026.
Steven Rossi
Founder, Chairman, President, CEO & Secretary
Good afternoon, everyone, and thank you for joining Worksport's Second Quarter 2026 Earnings Call. I'm Steve Rossi, Founder and Chief Executive Officer. With me is Jennifer Kartychak, our Chief Financial Officer. Jennifer was appointed CFO effective May 1, following Michael Johnson's resignation at the end of April.
She has served as our Vice President of Finance since January and started working with the company in 2023. So this is the continuation rather than a transition. This is our second earnings call on the role, and I'm glad to have her here today with me.
Our quarterly report on Form 10-Q for the period ended June 30, 2026 was filed today and will be available on the SEC's website and on our Investor Relations website along with these remarks and accompanying presentation. Our remarks will follow the slides.
We will open the line for questions. Let me start with some safe harbor statements. During this call, we'll make forward-looking statements, including statements regarding our expectations for financial and business trends, our market position, our go-to-market growth initiatives and our product programs and their expected benefits.
These statements are predictions based on current beliefs, expectations and assumptions because they relate to the future, they are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control.
Actual results may differ materially and you should not place undue reliance on that these
Harmony potvrdila bezpečnostní incident a pracuje s burzami na zmrazení prostředků i na záplatě. Podle on-chain analytika mohlo být neautorizovaně vytvořeno asi 4 miliardy ONE, tedy zhruba 26 % nabídky.
Harmony ağı hacklendi. Zincir üstü analist Juiceberg, saldırganların yaklaşık 4 milyar ONE‘ı yetkisiz şekilde ürettiğini ve bu miktarın toplam arzın yaklaşık %26’sına denk geldiğini bildirdi. Harmony ekibi ise saldırıyı doğrulayarak fonların dondurulması için borsalarla çalıştığını ve bir güvenlik yaması hazırladığını açıkladı.
Saldırının boyutuna ilişkin en dikkat çekici iddia ise bununla sınırlı değil. Juiceberg’e göre üretilen ONE tokenlarının yaklaşık 2,8 milyarı kısa sürede borsalara yönlendirildi ve satış baskısının etkisiyle ONE fiyatında sert düşüş yaşandı. Harmony ise şu aşamada saldırının kök nedenini veya etkilenen token miktarını açıklamadı.
Harmony’de Ne Oldu? Harmony, ağında bir güvenlik ihlali yaşandığını doğruladı.
Projenin resmi açıklamasında ekibin uygun borsalarla birlikte çalışarak fonları durdurmaya ve dondurmaya çalıştığı belirtildi. Harmony ayrıca bir patch hazırladığını ve işlemlerin geri alınmasını sağlayabilecek rollback seçeneklerini değerlendirdiğini açıkladı.
Ancak ekip, açığın nasıl kullanıldığını henüz açıklamadı.
Bu nedenle saldırının teknik mekanizması ve oluşturulan token miktarı konusunda şu aşamada zincir üstü analizlere dayanılıyor.
4 Milyar ONE Nasıl Üretildi? Zincir üstü analist Juiceberg, saldırganların boş bloklar üzerinden yaklaşık 4 milyar ONE üretmeyi başardığını bildirdi.
Bu miktar, mevcut token arzının yaklaşık %26’sına karşılık geliyor.
Juiceberg’in paylaşımına göre üretilen tokenların yaklaşık 2,8 milyar ONE’lık bölümü kısa süre içinde borsalara yönlendirildi. Bu hareket, saldırganların yeni oluşturulan tokenları piyasada satmaya çalıştığı ihtimalini gündeme getirdi.
Ancak burada kritik bir ayrım bulunuyor: 4 milyar ONE rakamı henüz Harmony tarafından doğrulanmış değil.
Wu Blockchain de Harmony’nin saldırıyı doğruladığını, ancak saldırının kök nedenini ve etkilenen miktarı henüz açıklamadığını aktardı.
ONE Fiyatında Sert Düşüş Yaşandı Yeni tokenların piyasaya yönlendirilmesi iddiası, ONE fiyatı üzerinde de ciddi baskı oluşturdu.
Paylaşılan verilere göre Harmony saldırısının ardından ONE %30’un üzerinde değer kaybetti. Şu an fiyat 0,00074 civarında.
Buradaki risk yalnızca saldırganların elindeki token miktarıyla sınırlı değil. Eğer gerçekten milyarlarca yeni ONE dolaşıma girdiyse, piyasadaki arzın kısa sürede artması mevcut yatırımcılar açısından ciddi bir seyrelme ve satış baskısı yaratabilir.
Öte yandan saldırının boyutu ve üretilen tokenların tamamının gerçekten piyasaya sürülüp sürülmediği henüz netleşmiş değil.
Ekip, uygun borsalarla iletişim halinde olduğunu ve fonların dondurulması için çalışmalar yürüttüğünü açıkladı. Aynı zamanda ağ için bir yama hazırlanıyor.
Harmony’nin gündeme aldığı rollback seçeneği ise saldırı sonrasında oluşan işlemlerin veya ağ durumunun geri alınmasına yönelik daha kapsamlı bir müdahale anlamına geliyor.
Ancak bunun uygulanıp uygulanmayacağı ve hangi blok yüksekliğine kadar geri dönüş yapılabileceği henüz açıklanmış değil.
Dolayısıyla piyasadaki en kritik soru artık şu:
Harmony yeni üretilen ONE tokenlarını etkisiz hale getirebilecek mi?
Harmony Daha Önce de Güvenlik Sorunları Yaşamıştı Bu olay, Harmony’nin ilk büyük güvenlik problemi değil.
Proje 2022’de Horizon Bridge saldırısıyla yaklaşık 100 milyon dolarlık kripto varlığın çalınmasıyla gündeme gelmişti. Harmony’nin resmi olay raporuna göre saldırganlar köprü altyapısındaki özel anahtarların ele geçirilmesi sonucunda yetkisiz işlemler gerçekleştirmişti.
Harmony daha sonra staking mekanizmasındaki bir yazılım açığı nedeniyle de token üretimiyle karşı karşıya kaldı. Projenin teknik raporuna göre 2023’teki olayda yaklaşık 146,28 milyon ONE hatalı şekilde üretildi ve ağ acil bir güncellemeyle hard fork edildi.
Bu nedenle yeni saldırı, Harmony’nin güvenlik geçmişi açısından da yakından takip ediliyor.
Şimdi Ne Olacak? Harmony’nin açıklaması şu aşamada üç noktaya odaklanıyor: fonların dondurulması, güvenlik yamasının hazırlanması ve rollback seçeneklerinin değerlendirilmesi.
Buna karşılık zincir üstü analizler, saldırının çok daha büyük bir arz sorununa dönüşmüş olabileceğine işaret ediyor.
Eğer yaklaşık 4 milyar ONE’ın yetkisiz şekilde üretildiği ve bunun önemli bölümünün borsalara gönderildiği doğrulanırsa, olay yalnızca bir güvenlik ihlali olmaktan çıkıp token arzını doğrudan etkileyen ciddi bir protokol krizine dönüşebilir.
Şimdilik Harmony’nin resmi açıklamasında 4 milyar ONE miktarı doğrulanmış değil. Bu nedenle saldırının kesin boyutunu belirlemek için ekibin teknik incelemesinin ve zincir üstü verilerin netleşmesi gerekiyor.
Harmony’nin bir sonraki açıklaması, hem yeni üretilen ONE miktarını hem de rollback uygulanıp uygulanmayacağını belirlemek açısından kritik olacak.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
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Google jmenoval Koraye Kavukcuoglua šéfem DeepMind, aby zrychlil vývoj Gemini a dohnal OpenAI a Anthropic. Alphabet po oznámení ve čtvrtek oslabil, přesto akcie za posledních 12 měsíců vzrostly asi o 76 %.
DeepMind's new boss is set to face intense pressure to close the AI performance gap with OpenAI and Anthropic.
OpenAI and Anthropic have released new systems in recent months that have been both hailed for and prompted concern over their advanced capabilities. On the other hand, Google, which acquired DeepMind in 2014, hasn't unveiled a frontier model since early 2026.
Koray Kavukcuoglu, who was previously the AI unit's CTO and parent company Google's chief AI architect, is inheriting a race to catch up to OpenAI and Anthropic at the frontier — building the industry's most advanced models. He's stepping up to become SVP, replacing DeepMind cofounder and CEO Demis Hassabis, who becomes the organization's chair.
"The goal will undoubtedly be to close the gaps with Anthropic and OpenAI in some areas," Ben Wood, chief analyst at CCS Insight, told CNBC.
Kavukcuoglu's promotion "feels like a move that is designed to adjust the focus of Google's efforts away from academic projects and more toward a stronger focus on improving frontier performance and improving the toolset for developers," Wood added.
Competing at the frontierGoogle has lagged behind OpenAI, which set the pace after releasing ChatGPT to the public in 2022. That shifted in November 2025 when Google released Gemini 3.
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Analysts said the model "moved the frontier forward", with capabilities that "far exceed[ed] what we've typically come to expect from this generation of frontier models."
But 2026 has seen OpenAI and Claude maker Anthropic pull ahead with new releases. Anthropic's Mythos model broke new ground, and OpenAI's GPT-5.6 was similarly lauded.
Following Gemini 3.1 Pro in February, Google's releases this year haven't challenged at the frontier. It assembled an internal team called "Code Strike" to bolster coding capabilities, crucial to the drive to develop artificial general intelligence (AGI).
Google fell behind Anthropic and OpenAI "because its focus was much more on monetizable areas such as Search, and multi-modal and it lost out on the first clear killer use case, which is coding," Malik Ahmed Khan, senior equity analyst at Morningstar, told CNBC. Coding is an area where those two companies are "miles ahead" of Google, he added.
A Google spokesperson told CNBC it would be inaccurate to say the company was distracted from its mission of solving "intelligence" before solving "everything else." They said the path to AGI will involve pushing on fronts including agents, coding, robotics and world models, and pointed to DeepMind releases across robotics, video and computer use, as well as public policy work and research.
DeepMind under KavukcuogluKavukcuoglu is part of DeepMind's old guard, having joined in 2012 before the Google acquisition, and will look to bring renewed focus on challenging Anthropic and OpenAI at the frontier, amid several high-profile departures.
Reporting directly to Google CEO Sundar Pichai, Kavukcuoglu will oversee Gemini model development, Frontier AI research, and the Gemini app and developer teams, Pichai said in a statement.
Kavukcuoglu's appointment will bring "more focus to GDM, with LLM [large language model] improvements being the clear route forward," Morningstar's Khan said. "We think Google is likely better positioned in the LLM race with these changes than it was without them," he added.
"Demis has been much more interested in building AGI that was beyond LLMs," Khan said.
Hassabis' tenure leading DeepMind "saw a clear focus on other areas such as multi-modal, such as world models, as well as his work in health, for example with Isomorphic Labs," he added.
Kavukcuoglu had been taking on broader responsibilities from Hassabis over the past year, including directing model development and presenting major Gemini releases, a person close to the DeepMind team told CNBC last week.
Kavukcuoglu's promotion "shows that Google is prioritizing execution over deep research," Ray Wang, principal analyst at Constellation Research, told CNBC. "Expect faster releases, more experimentation and an emphasis on developing to a product roadmap."
Alphabet shares sank in July after Bloomberg reported that the company had delayed the release of Gemini 3.5 Pro to try and improve performance in areas like coding.
"The first step [for Kavukcuoglu] would be to ship Gemini 3.5 Pro if possible, and then prove it wasn't a one-off by maintaining a predictable release cadence," said Nick Patience, AI lead at the Futurum Group. Beyond shipping a model that competes at the frontier, Kavukcuoglu "needs to rebuild the coding and pretraining expertise that walked out the door," he told CNBC.
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DeepMind was based in London before its acquisition and Hassabis remained in the city as CEO when it became a division within Google. DeepMind's continued presence there spurred the U.K. AI ecosystem.
Under his previous role, Kavukcuoglu moved from London to Google's headquarters in Mountain View, California.
"Google is quietly consolidating its AI leadership out of London," Patience said. A Google spokesperson told CNBC it remained committed to its presence in the UK capital.
Google's AI playAlphabet shares dropped on Thursday when the AI reshuffle was announced, though the stock has risen around 76% in the last 12 months.
Alphabet CEO Pichai said on last month's earnings call that nearly 90% of Fortune 100 companies are using Gemini Enterprise, stressing the company's ability to sell AI services to cloud customers.
"Although the model is behind and they want to catch up and they take that seriously, the monetization of the model is doing extremely well," Sebastian Mallaby, author of "The Infinity Machine," a biography of Hassabis, told CNBC's "Squawk Box" on Monday. He pointed to Google's AI being deployed across Android phones and Siri and Apple Intelligence on iPhones.
It was wrong to "paint a picture of a general crisis" at the company because of big-name departures, Mallaby added. "It's a big team. It's several thousand people on the Gemini team, if you count everybody. And so we shouldn't over-index on a few famous names."
The breadth of Kavukcuoglu's remit — Gemini model development, the Gemini app and developer teams, and reporting directly to Sundar Pichai — could also boost Google's AI advantage, said Brian Hopkins, VP, emerging tech and principal analyst at Forrester.
"Models, the app, and the developer teams under one executive is how a company organizes a product group rather than a lab," he told CNBC. "This is something that Google knows how to do much better than OpenAI or Anthropic."
— CNBC's MacKenzie Sigalos contributed to this report.
Satya Nadella obdržel rekordní odměnu 96,5 milionu USD, protože Microsoft ve fiskálním roce 2025 těžil z výrazného pokroku v AI a cloudu. Více než 95 % jeho cílové odměny je navázáno na výkon.
Satya Nadella's record $96.5 million pay package is really a mirror of how tightly his financial fate is now tied to Microsoft's (MSFT -0.45%) artificial intelligence (AI) future, and I think that matters a lot for anyone holding the stock. In fiscal 2025, Microsoft's board disclosed that Nadella's total compensation rose about 22%, from 79.1 million to roughly 96.5 million, the highest since he became CEO in 2014.
Microsoft had just posted a powerful year, with revenue up about 15%, operating income up 17%, and cloud revenue up 23% to nearly $169 billion, while Azure revenue grew 34% and surpassed $75 billion. The proxy statement and board commentary explicitly cited "exceptional progress in artificial intelligence" and said that Nadella's leadership had positioned Microsoft as a clear AI leader amid a generational technology shift.
Satya Nadella, CEO of Microsoft. Image source: Microsoft Corporation.
When you look at the structure of that pay, the alignment jumps out. The base salary is only $2.5 million. Around $9.5 million is a cash bonus. The rest, roughly $84 million, is stock awards that move directly with Microsoft's share price. The proxy explains that over 95% of his annual target compensation is performance-based, and at least 70% is equity. His performance stock awards are tied to long-term metrics, including total shareholder return relative to the S&P 500, Microsoft incentive plan revenue, Azure and other cloud services revenue, and Microsoft Cloud revenue. In other (more simple) words, Nadella gets paid when the business grows, margins hold up, the stock outperforms, and the cloud-plus-AI engine keeps compounding.
Today's Change
(
-0.45
%) $
-2.25
Current Price
$
503.81
What does this mean for investors? For investors like us, this is exactly what you want to see. There is obviously a gut reaction to a $96.5 million headline number, especially when the CEO-to-median-employee pay ratio is nearly 480-to-1, as of 2025. But the question is not whether the figure feels large. It is whether the incentives push the leader toward decisions that create durable value instead of short-term optics. Microsoft has deliberately avoided time-based stock grants for Nadella and uses overlapping performance periods, TSR modifiers, and multiyear vesting to keep him focused on long horizons rather than quarter-to-quarter spikes.
To me, the signal in this package is clear. Microsoft's board thinks artificial intelligence and cloud are the core of the story for the next decade, and it has structured Nadella's personal economics so that he wins only if shareholders win, too. You can debate the exact dollar amount, but if you own the stock, having a CEO whose pay lives and dies with the same AI-driven metrics that support your thesis is a lot better than the alternative.
Polymarket dává NVIDIA jen 9% šanci, že na konci měsíce zavře nad 260 USD, proti 50 % před měsícem. Akcie jsou před výsledky za 2. čtvrtletí, které přijdou později v srpnu.
Even as NVIDIA Corp.’s (NASDAQ:NVDA) shares surge in August, cryptocurrency punters remain skeptical that the stock will finish the month at or above $250.
Polymarket Wagers on NVDAThe betting crowd on Polygon (CRYPTO: POL)-based Polymarket currently assigns only a 9% chance to the possibility, down from 50% a month ago.
The odds of NVDA ending above $260 also remained at 9%. Punters put the odds at 62% for a close above $210 on Aug. 31, and 87% for a close above $190. The prediction market was pricing a 99% probability that the stock would close above $140.
The stock closed at $200.75 on the last trading day in July, and has gained 8.34% month-to-date. It closed at $223.96 last week, but has since retraced.
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NVIDIA, often viewed as the definitive gauge of AI sector, is set to release its second-quarter results later on Aug. 26, making the month pivotal for the stock.
Analysts expect the company to report earnings per share of $2.07, up nearly 100% year-over-year. The firm is expected to report revenue of $91.82 billion, a 96% increase from the same quarter last year.
Investors are waiting to see if earnings beat expectations, and whether that catalyst is enough to push shares higher.
The stock carries a consensus “Buy” rating from 30 analysts, with an average price target of $313 and a third-quarter target of $323.
Price Action: NVIDIA shares rose 0.25% in after-hours trading after closing 0.02% lower at $217.50 during Tuesday’s regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has rised 16.64%.
Benzinga Edge Stock Rankings indicate that NVDA maintains a stronger price trend across short-, medium-, and long-term timeframes, supported by elevated Value and Growth scores.
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Photo: Blossom Stock Studio / Shutterstock
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Franco-Nevada ve 2. čtvrtletí zvýšila tržby o 57 % na 580,9 mil. USD a GEOs o 18 % na 132 405. Firma zároveň uvedla, že míří do horní poloviny celoročního rozpětí pro rok 2026.
Tracking towards the upper half of annual guidance range
(in U.S. dollars unless otherwise noted)
, /PRNewswire/ -- Gold equivalent ounces sold in the quarter were 18% higher compared to the prior year period. Financial results benefited further from strong year-over-year precious metal and oil prices in the quarter. Production for the portfolio is expected to be weighted to the second half of the year, largely due to the expected production profiles at Candelaria, Tocantinzinho and Côté Gold, among others. During the quarter, the Government of Panama allowed the processing of stockpiles at Cobre Panamá to commence and established a ministerial commission to consider the future of the mine. The Company is tracking towards the upper half of its annual guidance range for 2026 due to elevated oil prices and anticipated deliveries from the processing of stockpiles at Cobre Panamá.
"Our portfolio is set to benefit from strong organic growth evidenced by resource increases, planned mine expansions and project advancements," stated Paul Brink, President & CEO. "With $4.3 billion in available capital, the Company is also well positioned to take advantage of a strong pipeline of deal opportunities."
Financial Highlights – Q2 2026 compared to Q2 2025
$580.9 million in revenue, +57%. 132,405 GEOs1 sold, +18%. 122,205 Net GEOs1 sold, +20%. $482.5 million in operating cash flow, +12%. $529.7 million ($2.75/share) in Adjusted EBITDA2, +45%. $354.0 million ($1.84/share) in net income, +43%. $349.2 million ($1.81/share) in Adjusted Net Income2, +46%. $4.3 billion in Available Capital3 as at June 30, 2026. Financial Highlights – H1 2026 compared to H1 2025
$1,231.6 million in revenue, +67% – new half-year record. 268,758 GEOs sold, +13%. 248,225 Net GEOs sold, +15%. $1,002.9 million in operating cash flow, +39% – new half-year record. $1,121.6 million in Adjusted EBITDA or $5.82/share, +63% – new half-year records. $822.6 million in net income or $4.27/share, +80% – new half-year records. $807.5 million in Adjusted Net Income or $4.19/share, +82% – new half-year records. GEOs Sold and Revenue
Quarterly GEOs sold and revenue by commodity
Q2 2026
Q2 2025
GEOs Sold
Revenue
GEOs Sold
Revenue
#
(in millions)
#
(in millions)
PRECIOUS METALS
Gold
91,224
$
403.0
78,738
$
258.4
Silver
19,695
83.5
11,520
38.1
PGM
3,192
12.2
2,191
7.5
114,111
$
498.7
92,449
$
304.0
DIVERSIFIED
Iron ore
2,037
$
9.1
2,197
$
7.2
Other mining assets
573
2.7
900
3.0
Oil
10,057
45.3
10,337
30.6
Gas
4,398
19.8
4,243
16.9
NGL
1,229
5.3
1,967
5.0
18,294
$
82.2
19,644
$
62.7
GEOs and revenue from royalty, stream and working interests
132,405
$
580.9
112,093
$
366.7
Interest revenue and other interest income
—
$
—
—
$
2.7
Total GEOs and revenue
132,405
$
580.9
112,093
$
369.4
Year-to-date GEOs sold and revenue by commodity
H1 2026
H1 2025
GEOs Sold
Revenue
GEOs Sold
Revenue
#
(in millions)
#
(in millions)
PRECIOUS METALS
Gold
182,382
$
839.9
164,261
$
504.2
Silver
43,313
197.0
24,011
75.2
PGM
6,396
29.9
4,800
15.3
232,091
$
1,066.8
193,072
$
594.7
DIVERSIFIED
Iron ore
5,831
$
26.2
6,085
$
19.6
Other mining assets
1,976
8.8
2,457
7.4
Oil
17,463
78.8
23,830
65.5
Gas
8,977
40.4
8,742
34.3
NGL
2,420
10.6
4,492
10.7
36,667
$
164.8
45,606
$
137.5
GEOs and revenue from royalty, stream and working interests
268,758
$
1,231.6
238,678
$
732.2
Interest revenue and other interest income
—
$
—
—
$
5.6
Total GEOs and revenue
268,758
$
1,231.6
238,678
$
737.8
In Q2 2026, we recognized revenue of $580.9 million, an increase of 57% from Q2 2025, and sold 132,405 GEOs, an increase of 18% from Q2 2025. We benefited from higher precious metal and oil prices compared to Q2 2025, strong contributions from Antapaccay, Antamina, South Arturo, Musselwhite, and incremental contributions from Côté Gold, Casa Berardi, Valentine and Porcupine, all of which were acquired or commenced production approximately over the past year. We also benefited from an increase in revenue from our Diversified assets, particularly from our Weyburn and SCOOP/STACK interests.
Precious Metal assets accounted for 86% of our revenue in Q2 2026 (70% gold, 14% silver, and 2% PGM). Revenue was sourced 88% from the Americas (40% South America, 25% Canada, 16% U.S. and 7% Central America & Mexico).
Portfolio Additions
Acquisition of Royalty on the Comet Vale Gold Mine – Australia: Subsequent to quarter-end, on July 15, 2026, we acquired a 2.0% gross royalty on all gold production from the majority of the mining leases of Gorilla Gold Mines Ltd's Comet Vale gold project, including the Sovereign and Cheer deposits, in the north Kalgoorlie region of Western Australia for $8.4 million (A$12.0 million), plus a contingent payment of $2.1 million (A$3.0 million). Acquisition of Royalties on the Greenstone Gold Mine – Canada: On June 22, 2026, we acquired a 5.0% NPI and 2.0% NSR that cover part of Equinox Gold Corp.'s broader Greenstone Gold Mine property for total cash consideration of $2.0 million. The 5.0% NPI area overlaps with a portion of our existing 3.0% NSR on Greenstone. Acquisition of Royalty on Youanmi Gold Mine – Australia: On May 29, 2026, we acquired a 1.0% NSR on all gold production from the mining leases of Rox Resources Limited's Youanmi gold project in the Murchison region of Western Australia for $32.9 million (A$47.0 million). Acquisition of Royalty Portfolio from Victoria Gold Corp.– Canada and U.S.: On April 16, 2026, we closed the previously announced acquisition of a portfolio of six royalties previously held by Victoria Gold Corp. for total cash consideration of $40.0 million (C$55.0 million). The portfolio includes a 6.0% NSR (subject to a 5.0% buy-back at the operator's election) on Banyan Gold Corp.'s AurMac property and a 1.0% NSR on Banyan Gold's Hyland property, both in the Yukon. The portfolio also includes milestone payments on i-80 Gold Corp.'s Cove project in Nevada and three additional royalties on earlier stage properties in Nevada and the Yukon. Cobre Panamá Update
Cobre Panamá remains in a phase of Preservation and Safe Management ("P&SM") with production halted.
During the quarter, the integral audit, carried out by SGS Global, was completed and on June 19, 2026, Panama's Ministry of Environment, MiAmbiente, published SGS' final integral audit report, representing an overall compliance rate of 87.7%.
During the quarter, the Government of Panama (the "GOP") established a high-level ministerial commission comprising the Ministers of Commerce and Industries, Economy and Finance, and Environment to evaluate matters relating to the future of the Cobre Panamá mine, including consideration of the integral audit findings and associated economic, environmental, and legal implications.
On April 7, 2026, the GOP authorized the removal, processing, and export of stockpiled ore (the "Processing Program") currently stored on site at the Cobre Panamá mine as part of the P&SM plan. As a result, after two years of halted operations, Cobre Panamá transitioned to the execution of the approved Processing Program. Commissioning of the first processing train was completed during May 2026, followed by the commencement of stockpile processing and the production of the first copper concentrate. Production reflected the successful commissioning and restart of one of the three milling circuits while Cobre Panamá continued to execute the P&SM plan in accordance with regulatory requirements.
First Quantum estimates that Cobre Panamá will produce between 30,000 and 40,000 tonnes of copper in 2026, with the remaining balance to be processed in 2027 for a total of approximately 70,000 tonnes. Based on these estimates, Cobre Panamá stream deliveries to Franco‑Nevada are expected to total approximately 23,100 gold ounces and 265,000 silver ounces. Deliveries of stream ounces to Franco-Nevada, which are determined based on the sale of copper concentrate by First Quantum under its offtake agreements, are expected to commence in Q3 2026, with one-third of deliveries anticipated in H2 2026.
Guidance
The following contains forward-looking statements. For a description of material factors that could cause our actual results to differ materially from the forward-looking statements below, please see the "Forward-Looking Statements" section at the end of this news release and the "Risk Factors" section of our most recent Annual Information Form filed with the Canadian securities regulatory authorities on www.sedarplus.com and our most recent Form 40-F filed with the SEC on www.sec.gov. Our 2026 guidance is based on assumptions including the forecasted state of operations from our assets based on public statements and other disclosures by the third-party owners and operators of the underlying properties and our assessment thereof.
Production for the portfolio is expected to be weighted to the second half of the year as previously guided, largely due to production profiles at Candelaria, Tocantinzinho, Côté Gold, Greenstone and Valentine. We also expect to benefit from the commencement of processing of stockpiled ore at Cobre Panamá, as outlined in the section above. With the inclusion of the anticipated Cobre Panamá deliveries, we are tracking towards the upper half of our 2026 Total GEOs guidance range. Furthermore, we are benefiting from elevated oil and natural gas liquids prices, with H1 2026 oil revenue of $78.8 million increasing 20% relative to H1 2025. Should oil prices remain elevated, we would expect a continued positive impact on our Energy revenue. An increase of $10 relative to our assumed WTI price of $70 per barrel is estimated to increase oil revenue by approximately 12%.
The following table presents our H1 2026 actual performance compared to our 2026 guidance.
2026 Guidance (1) (2)
H1 2026 Actual
Commodity
Gold ounces sold (oz)
360,000 to 400,000
182,382
Silver ounces sold (oz)
4,700,000 to 5,500,000
2,598,799
PGMs ounces sold (oz)
32,000 to 37,000
15,699
Diversified revenue (millions)
$245 to $285
$164.8
GEOs Sold (oz)
510,000 to 570,000
268,758
1
Our 2026 guidance assumes the following commodity prices: $4,500/oz Au, $75.00/oz Ag, $2,000/oz Pt, $1,650/oz Pd, $100/tonne Fe 62% CFR China, $70/bbl WTI oil and $3.00/mcf Henry Hub natural gas. GEOs for the 2026 period are calculated based on fixed conversion ratios based on the prices assumed in this 2026 guidance.
2
Our guidance does not reflect any incremental revenue from additional contributions we may make to the Royalty Acquisition Venture with Continental. Our guidance does not reflect any buy-backs which may be elected at the discretion of our operators with the exception of the buy-back of the Cascabel royalty and stream, which occurred in March 2026.
Sustainability Updates
During the quarter, we published our 2026 Sustainability Report, highlighting our sustainability-related initiatives and disclosures, including expanded disclosure relating to communities and Indigenous Peoples and enhanced climate-related disclosure. Franco-Nevada was recognized as one of Corporate Knights' Best 50 Corporate Citizens in Canada for 2026 and achieved an "A" rating in CDP's Supplier Engagement Assessment. We continued to strengthen our community engagement and contribution initiatives through operator partnerships, including support for the Boys & Girls Club Early Learning Center in Eureka, Nevada with i-80 Gold and for a community-based facility in Rustenburg, South Africa with Sibanye-Stillwater. During the quarter, we received a record number of applications for the Franco-Nevada Mining Industry Scholarship Program following the expansion of the program in partnership with the Young Mining Professionals Scholarship Fund.
Q2 2026 Portfolio Updates
Precious Metal assets: GEOs sold from our Precious Metal assets amounted to 114,111 GEOs for Q2 2026, an increase of 23% from 92,449 GEOs in Q2 2025. This was primarily due to higher deliveries from Antapaccay, Antamina, South Arturo and Musselwhite, and incremental contributions from Côté Gold, Casa Berardi, Valentine and Porcupine, which were acquired or commenced production approximately over the past year.
South America:
Candelaria (gold and silver stream) – GEOs sold in Q2 2026 were lower than those sold in Q2 2025. Production at the mine was lower compared to last year, which had the benefit of higher-grade ore from Phase 11. Lundin Mining expects production to be weighted towards H2 2026 due to increased availability of higher-grade Phase 12 ore, combined with increased underground mining rates as the underground insourcing initiative nears completion. In addition, Lundin has reported strong potential for mine life extensions through underground extensions, open pit push backs (Phase 14) and surface projects. The underground expansion is expected to achieve 14 ktpd in H2 2027 and progress towards 22 ktpd by 2030. Antapaccay (gold and silver stream) – GEOs sold in Q2 2026 were higher than those sold in Q2 2025, primarily due to processing of higher-grade ore. In addition, delivery shortfalls were experienced in the prior year period. Antamina (22.5% silver stream) – Silver ounces sold in Q2 2026 were higher than in Q2 2025. The increase in deliveries is attributable to higher silver grades in the current period and timing of shipments. Q3 2026 deliveries to Franco-Nevada are expected to be lower based on lower concentrator throughput at the mine in Q2 2026. Tocantinzinho (gold stream) – GEOs sold in Q2 2026 were relatively consistent with those sold in Q2 2025. G Mining Ventures expects production to be weighted towards H2 2026 as higher-grade mineralization becomes available in accordance with the mine plan. Condestable (gold and silver stream) – GEOs sold in Q2 2026 were higher than those sold in Q2 2025. The stream transitioned from fixed deliveries to variable deliveries with Q2 2026 being the first period with variable deliveries. Rio2 Limited expects to receive approval for the modification of the mine EIA during Q3 2026, which will permit an increase in production from 8,400 tonnes per day to 10,000 tpd, and will continue to assess opportunities to expand production further. In June 2026, Rio2 finalized an updated National Instrument 43-101 Technical Report which highlighted continued resource and reserve replacement and outlined a 14-year life of mine through 2039. Yanacocha (1.8% royalty) – GEOs from our Yanacocha royalty in Q2 2026 were relatively consistent with Q2 2025. Newmont anticipates production from Yanacocha for 2026 of approximately 460,000 gold ounces, with 272,000 gold ounces produced in H1 2026. PSJ Cobre Mendocino (San Jorge) (7.5% royalty) – PSJ Cobre Mendocino (formerly San Jorge), a copper-gold project located in the province of Mendoza in Argentina, obtained approval under Argentina's Large Investment Incentive Regime (RIGI) in May 2026. A feasibility study is expected in late 2026 and initial production is planned for 2029. Central America & Mexico:
Guadalupe-Palmarejo (50% gold stream) – GEOs sold in Q2 2026 were slightly lower than in Q2 2025, primarily due to the processing of a larger quantity of higher-grade ore in the previous year. In July 2026, Coeur Mining announced positive exploration results from an extensive exploration program. Drilling along the Main Mine Trend has further expanded mineralization at both the Hidalgo Corridor and Independencia Sur, where results are expected to add near-term reserves, some of which is expected to be within Franco-Nevada's stream boundaries. Canada:
Côté Gold (7.5% GMR) – Production (on a 100% basis) from Côté Gold in Q2 2026 was 96,200 gold ounces, in line with the prior year period, where production was 96,000 gold ounces. The replacement of the conveyor belt in May 2026 and the commissioning of a second cone crusher allowed the plant to operate at near full capacity in June 2026. IAMGOLD expects production to increase and unit costs to decline through H2 2026. In June 2026, IAMGOLD released an updated Mineral Resource estimate integrating the Côté and Gosselin zones into a consolidated block model, outlining Measured and Indicated Mineral Resources of 20.3 million ounces of gold (838.0 Mt at 0.75 g/t Au) and Inferred Mineral Resources of 3.5 million ounces of gold (177.1 Mt at 0.61 g/t Au). An updated Mineral Reserve estimate and updated mine plan outlining near-term opportunities to increase processing capacity to 40,000 tpd are expected in Q4 2026. In parallel, IAMGOLD is continuing to evaluate opportunities for a larger-scale expansion over the long term. Detour Lake (2% royalty) – Detour produced 207,279 ounces of gold during the quarter, a 23% increase over the prior year period driven by a higher-grade sequence and strong mine and mill performance. Development activities for the underground project continued during the quarter, with the exploration ramp reaching a depth of 180 metres as of June 30, 2026. Exploration drilling, which totalled 52,763 metres during the quarter, continued to expand and infill the mineralization below and to the west of the mineral resource pit. Hemlo (50% NPI and 3% NSR) – We earned fewer GEOs in Q2 2026 compared to Q2 2025 as access to higher-grade stopes was delayed based on mining sequence. In June 2026, Hemlo Mining Corporation announced an increased Mineral Resource estimate which outlined Measured and Indicated Mineral Resources of 387,000 ounces of gold (3,086 kt at 3.90 g/t Au) attributable to Franco-Nevada's 50% portion of the Interlake claims, a year-over-year increase of 18%. Porcupine (4.25% royalty) – GEOs sold in Q2 2026 increased compared to Q2 2025. In June 2026, Discovery acquired Glencore's Kidd Operations, providing Discovery with the potential to double production from the Timmins complex to 500,000 gold ounces annually. Discovery expects to release updated mineral resource updates for Dome and TVZ by the end of 2026. Additionally, Discovery has initiated the development of an exploration ramp between Hoyle Pond and Owl Creek to facilitate drilling along the trend. Greenstone (3% royalty) – Equinox Gold reported operational improvements in Q2 2026, as the number of days operating above nameplate capacity continues to increase, with 69% of days exceeding 27,000 tpd compared to 51% in the immediately preceding quarter. This trend is anticipated to continue into H2 2026 resulting in expected higher production quarter-over-quarter for the balance of the year. Equinox Gold expects Greenstone to produce between 250,000 and 275,000 gold ounces in 2026. Valentine (3% royalty) – Equinox Gold reported that the ramp-up is progressing well, with the mine averaging 113% of nameplate capacity for Q2 2026. Production is expected to increase in H2 2026, driven by higher mill feed grades and continued strong plant performance. Following its acquisition of Orla Mining on July 31, 2026, Equinox Gold revised its 2026 production guidance for Valentine from 150,000 – 200,000 gold ounces to 140,000 –150,000 gold ounces. In August 2026, Equinox Gold approved the construction of the Valentine Phase 2 expansion project. Construction is expected to be completed in late 2028. Musselwhite (5% NPI) – GEOs sold in Q2 2026 were higher than in Q2 2025. Production at the mine was higher due to improvements in stope sequencing and underground development rates. In addition, of the 5,198 GEOs recognized in Q2 2026, 3,951 GEOs were related to the 2025 annual period. On July 31, 2026, Equinox Gold completed its acquisition of Orla Mining. Equinox Gold expects production of between 100,000 and 110,000 gold ounces from Musselwhite for the period of August 1, 2026 to December 31, 2026. Sudbury (gold and PGM stream) – GEOs sold from our Sudbury stream were higher in Q2 2026 than in Q2 2025, supported by Magna Mining's record quarterly production under its ownership and continued operational momentum at McCreedy West, where underground development is expected to exceed 2,350 feet during the quarter, also a record under Magna ownership. Canadian Malartic (1.5% royalty) – At Odyssey, production from East Gouldie ramped up during the quarter. Gold production at Odyssey was a record and in line with plan at 28,800 ounces, with Odyssey expected to contribute approximately 120,000 ounces of gold in 2026. In July 2026, Agnico Eagle Mines Limited reported a rock mass movement along the north wall of the Barnat open pit. Franco-Nevada's royalty does not cover the Barnat pit. Agnico Eagle believes that the incident will not affect the development or production outlook for the Odyssey mine. For 2026, Franco-Nevada estimates 600-700 GEOs will be received from our royalty interest at Canadian Malartic. AurMac (1% royalty post buy-back) – Banyan Gold announced the final Environmental Impact Statement and Record of Decision are on track for Q4 2026. The draft EIS was published in April. An updated feasibility study is expected in H2 2026 with an investment decision expected in H1 2027. Kerr-Addison (1% royalty) – In July 2026, Cadillac Mines completed a C$385 million IPO, including a C$60 million investment from Agnico Eagle, providing significant funding to develop the Kerr-Addison project. U.S.:
South Arturo (4-9% royalties) – GEOs sold in Q2 2026 were higher than in Q2 2025, as Nevada Gold Mines continues to process ore from the South Arturo pit in 2026, in line with the Carlin mine plan. Production from Phase 1 is expected to continue through to the end of 2026. Bald Mountain (1-5% royalties) – Kinross reported that mining is advancing well at Bald Mountain Redbird and that the heap leach pad expansion is continuing ahead of schedule. i-80 (1.5% royalty) – i-80 Gold reported that construction at the Archimedes project, which commenced in Q3 2025, continues to be on schedule with first gold expected in Q4 2026. The refurbishment of the Lone Tree autoclave and plant also continues to advance and the plant is expected to achieve first pour in late 2027. Stibnite (1.7% gold royalty and 100% silver royalty) – Perpetua Resources reported that it had commenced critical path construction activities for the 2026 field season, following a decision in May 2026 by the United States District Court of Idaho denying a motion for a preliminary injunction filed by special interest groups. Perpetua anticipates operations to commence in 2029. Stillwater (5% royalty) – Sibanye-Stillwater announced the phased implementation of a new technique to achieve larger stope sizes to be completed by H2 2028 and steady state production of 410,000 2E PGM ounces by 2029. Stillwater West is expected to provide future optionality and upside. Castle Mountain (2.65-4.65% royalties) – Equinox Gold expects a final Environmental Impact Statement and Federal Record of Decision for the Castle Mountain Expansion in Q4 2026. An updated feasibility study is expected in H2 2026 with an investment decision in H1 2027. Rest of World:
Western Limb (gold and platinum stream) – GEOs sold in Q2 2026 were higher than in the prior year quarter. Sibanye-Stillwater reported that the ramp-up of the K4 shaft was 77% complete as of June 2026. Sibanye-Stillwater expects UG2 brownfield projects to sustain an annual underground production profile of 1.5Moz 4E PGM beyond 2035 and increases the mechanized and UG2 contributions to 64% and 80%, respectively. This indicative production profile exceeds our initial expectations at the time of the transaction. Tasiast (2% royalty) – GEOs from our Tasiast royalty were higher in Q2 2026 than in Q2 2025, primarily driven by higher throughput and timing of ounces processed through the mill. Bullabulling (2.45% royalty) – In July 2026, Minerals 260 Limited released an updated mineral resource estimate that substantially exceeded the initial maiden resource estimate. Concurrently, Minerals 260 announced the completion of a positive pre-feasibility study, outlining an annual production profile of 150,000 gold ounces over 19 years with production expected to commence in Q4 2028. Infrastructure for the processing plant of 5Mtpa will be designed to support a potential expansion to 7.5 Mtpa. The pre-feasibility study was based on the maiden ore reserve estimate. The expanded resource estimate is expected to be incorporated into a reserve update as part of a definitive feasibility study targeted for Q1 2027. Séguéla (0.6% royalty) – In July 2026, Fortuna Mining announced it had made a final investment decision for the Séguéla plant expansion, representing a 30% expansion and providing a pathway to production of over 200,000 gold ounces per year. The project includes an expansion of the Séguéla processing facility, upgrades to supporting infrastructure, and development of the Sunbird underground mine. Diversified assets: Our Diversified assets, primarily comprising our Iron Ore and Energy interests, generated $82.2 million in revenue, compared to $62.7 million in Q2 2025.
Other Mining:
Vale (iron ore royalty) – Revenue from the Vale royalty increased when compared to Q2 2025, largely driven by the inclusion of sales from the Southeastern System following the achievement of the cumulative sales threshold of 1.7 billion tonnes of iron ore in April 2025, partly offset by higher transportation costs. LIORC – Revenue from our attributable interest on the Carol Lake mine in Q2 2026 was relatively consistent with Q2 2025. Production at IOC in Q2 2026 was lower than Q2 2025 but improved relative to Q1 2026 as IOC is implementing a multi-year program to address operating challenges. Caserones (0.517% royalty) – In June 2026, Lundin Mining reported that annual cathode production at the mine increased to 25,000 tonnes following leaching improvements. Lundin expects to increase utilization of the cathode plant and further increase cathode production to approximately 40,000 tonnes per year, partially offsetting expected lower sulphide head grades in future years. Subsequent to quarter-end, production at Caserones was impacted by severe winter storms, which restricted site access and disrupted power supply for 13 days. Copper World (2.085% royalty) – Hudbay reported that the Copper World definitive feasibility study is progressing, with 95% of the engineering work completed, and a project sanctioning decision on track for late 2026 and first production expected in H2 2029. Crawford (2% royalty) – Canada Nickel Company received a positive decision statement from the federal Minister of Environment, Climate Change and Nature, and is advancing towards a construction decision in 2027. Energy:
U.S. (various royalty rates) – Revenue from our U.S. Energy interests increased to $46.2 million in Q2 2026, compared to $38.5 million in Q2 2025. The increase was primarily due to a higher share of production earned from our Continental Resources interests and stronger realized oil prices, including the benefit of higher natural gas liquids pricing across our principal gas assets. Overall, we continue to see steady production across the basins. Canada (various royalty rates) – Revenue from our Canadian Energy interests was $24.2 million in Q2 2026, compared to $14.0 million in Q2 2025 due to higher realized oil prices. We earned higher revenue from our Weyburn interests due to the leverage of the NRI royalty to the increase in oil prices in the quarter. Dividend Declaration
Franco-Nevada is pleased to announce that its Board of Directors has declared a quarterly dividend of US$0.44 per share. The dividend will be paid on September 24, 2026, to shareholders of record on September 10, 2026 (the "Record Date"). The dividend has been declared in U.S. dollars and the Canadian dollar equivalent will be determined based on the daily average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident individuals who receive "eligible dividends" are entitled to an enhanced gross-up and dividend tax credit on such dividends.
The Company has a Dividend Reinvestment Plan (the "DRIP") which allows shareholders of Franco-Nevada to reinvest dividends to purchase additional common shares at the Average Market Price, as defined in the DRIP, subject to a discount from the Average Market Price in the case of treasury acquisitions. The Company will issue additional common shares through treasury at a 1% discount to the Average Market Price. The Company may, from time to time, in its discretion, change or eliminate the discount applicable to treasury acquisitions or direct that such common shares be purchased in market acquisitions at the prevailing market price, any of which would be publicly announced. Participation in the DRIP is optional. The DRIP and enrollment forms are available on the Company's website at www.franco-nevada.com. Canadian and U.S. registered shareholders may also enroll in the DRIP online through the plan agent's self-service web portal at www.investorcentre.com/franco-nevada. Canadian and U.S. beneficial shareholders should contact their financial intermediary to arrange enrollment. Non-Canadian and non-U.S. shareholders may potentially participate in the DRIP, subject to the satisfaction of certain conditions. Non-Canadian and non-U.S. shareholders should contact the Company to determine whether they satisfy the necessary conditions to participate in the DRIP.
This news release is not an offer to sell or a solicitation of an offer for securities. A registration statement relating to the DRIP has been filed with the U.S. Securities and Exchange Commission and may be obtained under the Company's profile on the U.S. Securities and Exchange Commission's website at www.sec.gov.
Shareholder Information and Details for Q2 2026 Conference Call
The complete Consolidated Financial Statements and Management's Discussion and Analysis can be found on our website at www.franco-nevada.com, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov.
We will host a conference call to review our Q2 2026 quarterly results. Interested investors are invited to participate as follows:
Conference Call and Webcast:
August 12th 8:00 am ET
Dial‑in Numbers:
Toll‑Free: 1-888-510-2154
International: 437-900-0527
Conference Call URL (This allows participants to join
the conference call by phone without operator assistance.
Participants will receive an automated call back after
entering their name and phone number):
emportal.ink/4wJByFO
Webcast:
www.franco-nevada.com
Replay (available until August 19th):
Toll‑Free: 1-888-660-6345
International: 289-819-1450
Pass code: 08003#
Corporate Summary
Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets. Its business model provides investors with gold price and exploration optionality while limiting exposure to cost inflation. Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and pay dividends. It trades under the symbol FNV on both the Toronto and New York stock exchanges. Franco-Nevada is the gold investment that works.
For more information, please visit our website at www.franco-nevada.com
Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding Franco-Nevada's growth, results of operations, estimated future revenues, performance guidance, carrying value of assets, future dividends and requirements for additional capital, mineral resources and mineral reserves estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third party operators, any ongoing or future audits being conducted by the Canada Revenue Agency ("CRA"), the expected exposure for current and future tax assessments and available remedies, and statements with respect to the future status and any potential restart of the Cobre Panamá mine. In addition, statements relating to mineral resources and mineral reserves, GEOs or mine lives are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such mineral resources and mineral reserves, GEOs or mine lives will be realized. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "potential for", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty and stream revenue (gold, platinum group metals, copper, nickel, silver, iron-ore and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Brazilian real, Mexican peso and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; tariff and other trade measures that may be imposed by the United States and proposed retaliatory measures that may be adopted by its trading partners; the adoption and implementation of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Franco-Nevada holds a royalty, stream or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Franco-Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; whether or not the Company is determined to have "passive foreign investment company" ("PFIC") status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatment of offshore streams; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; access to sufficient pipeline capacity; actual mineral content may differ from the mineral resources and mineral reserves contained in technical reports; rate and timing of production differences from mineral resource estimates, other technical reports and mine plans; risks and hazards associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; the impact of future pandemics; and the integration of acquired assets. The forward-looking statements contained herein are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Franco-Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; the Company's ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; the expected assessment and outcome of any audit by any taxation authority; no adverse development in respect of any significant property in which Franco-Nevada holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. In addition, there can be no assurance as to (i) the outcome of any ongoing or future audits by the CRA or the Company's exposure as a result thereof, or (ii) the future status and any potential restart of the Cobre Panamá mine. Franco-Nevada cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.
For additional information with respect to risks, uncertainties and assumptions, please refer to Franco-Nevada's most recent Annual Information Form as well as Franco-Nevada's most recent Management's Discussion and Analysis filed with the Canadian securities regulatory authorities on www.sedarplus.com and Franco-Nevada's most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as of the date hereof only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.
ENDNOTES:
1. Gold Equivalent Ounces ("GEOs") and Net Gold Equivalent Ounces ("Net GEOs"):
GEOs include Franco-Nevada's attributable share of production from our Mining and Energy assets after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSRs and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Where the Company receives gold and silver bullion in-kind as payment for its royalties, GEOs are recognized at the time of receipt of such bullion. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. Beginning in 2026, the Company adopted fixed GEO conversion ratios based on the pricing assumptions outlined in our guidance. This methodology replaces our previous methodology which was based on variable GEO conversion ratios using prevailing market prices. Our 2026 guidance, as disclosed in our 2025 MD&A filed on March 10, 2026, assumed the following commodity prices: $4,500/oz Au, $75.00/oz Ag, $2,000/oz Pt, $1,650/oz Pd, $100/tonne Fe 62% CFR China, $70/bbl WTI oil and $3.00/mcf Henry Hub natural gas. GEOs for the 2026 period are calculated based on fixed conversion ratios based on the prices assumed in this 2026 guidance. Net GEOs are GEOs sold, net of direct operating costs, including for our stream GEOs, the associated ongoing cost per ounce. Calculation of Net Gold Equivalent Ounces:
For the three months ended
June 30,
(expressed in millions, except GEOs and Gold Price)
2026
2025
GEOs
132,405
112,093
Less:
Cash Costs
$
45.9
$
33.5
Divided by: Gold price per ounce
$
4,500
$
3,279
10,200
10,217
Net GEOs
122,205
101,876
2. NON-GAAP FINANCIAL MEASURES:
Adjusted Net Income, Adjusted Net Income per share, Adjusted Net Income Margin, Adjusted EBITDA, Adjusted EBITDA per share, and Adjusted EBITDA Margin are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards ("IFRS Accounting Standards") and might not be comparable to similar financial measures disclosed by other issuers. For a quantitative reconciliation of each non-GAAP financial measure to the most directly comparable financial measure under IFRS Accounting Standards, refer to the below tables. Further information relating to these non-GAAP financial measures is incorporated by reference from the "Non-GAAP Financial Measures" section of Franco-Nevada's MD&A for the three and six months ended June 30, 2026 dated August 11, 2026 filed with the Canadian securities regulatory authorities on SEDAR+ available at www.sedarplus.com and with the U.S. Securities and Exchange Commission available on EDGAR at www.sec.gov. Change in Composition of Adjusted Net Income – Gains on buy-backs of royalty and stream interests: Effective Q1 2026, the Company updated the composition of its Adjusted Net Income (and related per share and margin amounts) to no longer adjust for gains on contractual buy-backs of royalty and stream interests. Previously, gains on buy-backs were an adjusting item when calculating Adjusted Net Income (and related per share and margin amounts). Management continues to adjust for gains or losses on discretionary sales of mineral interests when calculating these non-GAAP measures. Management believes that this change more appropriately reflects the Company's operating performance as contractual buy-backs are embedded in the terms of many of the Company's royalty and stream interest agreements, such that they occur in the ordinary course and are an integral part of Franco-Nevada's royalty and stream business. Unlike less common discretionary sales of mineral interests, these transactions are evaluated by management when assessing overall returns from our royalty and stream interests, and accordingly, we believe such gains should not be eliminated for purposes of calculating Adjusted Net Income and related per share amounts, when evaluating performance for investors. This change is reflected on a full retrospective basis. Adjusted Net Income and Adjusted Net Income per share are non-GAAP financial measures, which exclude the following from net income and earnings per share ("EPS"): impairment losses and reversal related to royalty, stream and working interests and investments; gains/losses on disposals of royalty, stream and working interests (excluding gains on buy-backs of royalty and stream interests) and investments; impairment losses and expected credit losses related to equity investments, loans receivable and other financial instruments, changes in fair value of investments, loans receivable and other financial instruments, foreign exchange gains/losses and other income/expenses; the impact of income taxes on these items; income taxes related to the reassessment of the probability of realization of previously recognized or de-recognized deferred income tax assets; and income taxes relating to the revaluation of deferred income tax assets and liabilities as a result of statutory income tax rate changes in the countries in which the Company operates. Adjusted Net Income Margin is a non-GAAP financial measure which is defined by the Company as Adjusted Net Income divided by revenue. Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP financial measures, which exclude the following from net income and EPS: income tax expense/recovery; finance expenses and finance income; depletion and depreciation; impairment losses and reversals related to royalty, stream and working interests and investments; gains/losses on disposals of royalty, stream and working interests and investments; gains on buy-backs of royalty and stream interests, impairment losses and expected credit losses related to equity investments, loans receivable and other financial instruments, changes in fair value of investment, loans receivable and other financial instruments, and foreign exchange gains/losses and other income/expenses. Adjusted EBITDA Margin is a non-GAAP financial measure which is defined by the Company as Adjusted EBITDA divided by revenue. Reconciliation of Non-GAAP Financial Measures:
For the three months ended
For the six months ended
June 30,
June 30,
(expressed in millions, except per share amounts)
2026
2025
2026
2025
Net income
$
354.0
$
247.1
$
822.6
$
456.9
Impairment reversal
—
(4.1)
—
(4.1)
Foreign exchange gain and other income
(7.1)
(4.1)
(19.5)
(9.8)
Tax effect of adjustments
2.3
(0.4)
4.4
1.0
Adjusted Net Income
$
349.2
$
238.5
$
807.5
$
444.0
Basic weighted average shares outstanding
192.9
192.7
192.8
192.6
Adjusted Net Income per share
$
1.81
$
1.24
$
4.19
$
2.31
For the three months ended
For the six months ended
June 30,
June 30,
(expressed in millions, except Adjusted Net Income Margin)
2026
2025
2026
2025
Adjusted Net Income
$
349.2
$
238.5
$
807.5
$
444.0
Divided by: Revenue
580.9
369.4
1,231.6
737.8
Adjusted Net Income Margin
60.1
%
64.6
%
65.6
%
60.2
For the three months ended
For the six months ended
June 30,
June 30,
(expressed in millions, except per share amounts)
2026
2025
2026
2025
Net income
$
354.0
$
247.1
$
822.6
$
456.9
Income tax expense
104.9
68.6
231.2
128.4
Finance income
(6.8)
(6.6)
(12.3)
(17.7)
Finance expenses
0.7
0.8
1.5
1.5
Depletion and depreciation
84.0
64.0
161.9
132.4
Gain on buy-back of royalty and stream interests
—
—
(63.8)
—
Impairment reversal
—
(4.1)
—
(4.1)
Foreign exchange gain and other income
(7.1)
(4.1)
(19.5)
(9.8)
Adjusted EBITDA
$
529.7
$
365.7
$
1,121.6
$
687.6
Basic weighted average shares outstanding
192.9
192.7
192.8
192.6
Adjusted EBITDA per share
$
2.75
$
1.90
$
5.82
$
3.57
For the three months ended
For the six months ended
June 30,
June 30,
(expressed in millions, except Adjusted EBITDA Margin)
2026
2025
2026
2025
Adjusted EBITDA
$
529.7
$
365.7
$
1,121.6
$
687.6
Divided by: Revenue
580.9
369.4
1,231.6
737.8
Adjusted EBITDA Margin
91.2
%
99.0
%
91.1
%
93.2
%
3. AVAILABLE CAPITAL: Available Capital comprises our cash and cash equivalents of $1,014.2 million as at June 30, 2026, our equity investments (excluding our long-term investment in Labrador Iron Ore Royalty Corporation) of $1,041.2 million and the amounts available to borrow under our corporate revolving credit facilities totaling $1.5 billion and their accordions of $750.0 million as at June 30, 2026.
FRANCO-NEVADA CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(in millions of U.S. dollars)
At June 30,
At December 31,
2026
2025
ASSETS
Cash and cash equivalents
$
1,014.2
$
670.9
Receivables
237.5
241.9
Gold and silver bullion and stream inventory
112.6
40.1
Other current assets
23.6
68.5
Current assets
$
1,387.9
$
1,021.4
Royalty, stream and working interests, net
$
6,262.3
$
6,043.1
Investments
1,215.1
1,141.3
Loans receivable
17.6
—
Deferred income tax assets
18.8
23.2
Other assets
20.5
12.4
Total assets
$
8,922.2
$
8,241.4
LIABILITIES
Accounts payable and accrued liabilities
$
38.6
$
44.9
Income tax liabilities
109.4
78.1
Current liabilities
$
148.0
$
123.0
Deferred income tax liabilities
$
503.8
$
440.7
Income tax liabilities
21.6
33.8
Other liabilities
8.1
8.6
Total liabilities
$
681.5
$
606.1
SHAREHOLDERS' EQUITY
Share capital
$
5,817.6
$
5,803.4
Contributed surplus
17.6
21.6
Retained earnings
2,045.7
1,379.8
Accumulated other comprehensive income
359.8
430.5
Total shareholders' equity
$
8,240.7
$
7,635.3
Total liabilities and shareholders' equity
$
8,922.2
$
8,241.4
The condensed consolidated interim financial statements and accompanying notes can be found in our Q2 2026 Quarterly Report available on our website
FRANCO-NEVADA CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(in millions of U.S. dollars and shares, except per share amounts)
For the three months ended
For the six months ended
June 30,
June 30,
2026
2025
2026
2025
Revenue
Revenue from royalty, streams and working interests
$
580.9
$
366.7
$
1,231.6
$
732.2
Interest revenue
—
2.7
—
5.6
Total revenue
$
580.9
$
369.4
$
1,231.6
$
737.8
Costs of sales
Costs of sales
$
45.9
$
33.5
$
92.4
$
72.0
Depletion and depreciation
84.0
64.0
161.9
132.4
Total costs of sales
$
129.9
$
97.5
$
254.3
$
204.4
Gross profit
$
451.0
$
271.9
$
977.3
$
533.4
Other operating expenses (income)
General and administrative expenses
$
7.8
$
9.6
$
17.0
$
19.0
Share-based compensation (recovery) expenses
(3.5)
2.8
2.7
8.5
Impairment reversal
—
(4.1)
—
(4.1)
Gain on buy-back of royalty and stream interests
—
—
(63.8)
—
Loss (gain) on sale of gold and silver bullion
1.0
(42.2)
(2.1)
(49.3)
Total other operating expenses (income)
$
5.3
$
(33.9)
$
(46.2)
$
(25.9)
Operating income
$
445.7
$
305.8
$
1,023.5
$
559.3
Foreign exchange gain and other income
$
7.1
$
4.1
$
19.5
$
9.8
Income before finance items and income taxes
$
452.8
$
309.9
$
1,043.0
$
569.1
Finance items
Finance income
$
6.8
$
6.6
$
12.3
$
17.7
Finance expenses
(0.7)
(0.8)
(1.5)
(1.5)
Net income before income taxes
$
458.9
$
315.7
$
1,053.8
$
585.3
Income tax expense
104.9
68.6
231.2
128.4
Net income
$
354.0
$
247.1
$
822.6
$
456.9
Other comprehensive (loss) income, net of taxes
Items that may be reclassified subsequently to profit and loss:
Currency translation adjustment
$
(63.2)
$
95.7
$
(115.1)
$
98.4
Items that will not be reclassified subsequently to profit and loss:
(Loss) gain on changes in the fair value of equity investments
at fair value through other comprehensive income ("FVTOCI"),
net of income tax
(77.6)
31.2
56.1
180.0
Other comprehensive (loss) income, net of taxes
$
(140.8)
$
126.9
$
(59.0)
$
278.4
Comprehensive income
$
213.2
$
374.0
$
763.6
$
735.3
Earnings per share
Basic
$
1.84
$
1.28
$
4.27
$
2.37
Diluted
$
1.83
$
1.28
$
4.26
$
2.37
Weighted average number of shares outstanding
Basic
192.9
192.7
192.8
192.6
Diluted
193.3
193.0
193.2
192.9
The condensed consolidated interim financial statements and accompanying notes can be found in our Q2 2026 Quarterly Report available on our website
FRANCO-NEVADA CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
(in millions of U.S. dollars)
For the three months ended
For the six months ended
June 30,
June 30,
2026
2025
2026
2025
Cash flows from operating activities
Net income
$
354.0
$
247.1
$
822.6
$
456.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion and depreciation
84.0
64.0
161.9
132.4
Share-based compensation expenses
1.0
1.0
2.1
3.1
Impairment loss (reversal)
—
(4.1)
—
(4.1)
Gain on buy-back of royalty and stream interests
—
—
(63.8)
—
Unrealized foreign exchange gain
(2.5)
(5.2)
(3.8)
(11.2)
Deferred income tax expense
36.1
37.2
69.8
46.3
Loss (gain) on sale of gold and silver bullion
1.0
(42.2)
(2.1)
(49.3)
(Gain) loss on derivative financial instruments
(4.1)
(5.7)
(15.1)
(5.6)
Other non-cash items
0.1
0.4
(0.1)
—
Gold and silver bullion from royalties received in-kind
(50.3)
(10.9)
(97.7)
(30.1)
Proceeds from sale of gold and silver bullion
59.8
147.1
74.9
177.3
Receipt of deposits and interest from Canada Revenue Agency
—
—
49.5
—
Increase in other assets
—
—
(8.2)
—
Increase (decrease) in non-current income tax liabilities
9.2
(13.5)
(12.2)
(6.8)
Operating cash flows before changes in non-cash working capital
$
488.3
$
415.2
$
977.8
$
708.9
Changes in non-cash working capital:
Decrease in receivables
$
30.0
$
13.5
$
4.4
$
5.1
Increase in other current assets
(0.7)
(20.0)
(3.9)
(11.1)
(Decrease) increase in accounts payable and accrued liabilities
(10.4)
1.4
(6.1)
4.7
(Decrease) increase in current income tax liabilities
(24.7)
20.2
30.7
11.6
Net cash provided by operating activities
$
482.5
$
430.3
$
1,002.9
$
719.2
Cash flows used in investing activities
Acquisition of royalty, stream and working interests
$
(80.3)
$
(1,360.4)
$
(529.7)
$
(1,865.6)
Proceeds from buy-back of royalty interest
—
—
97.5
—
Acquisition of investments
(19.8)
(3.0)
(55.1)
(55.3)
Loan advanced to Life of Mine Investments Inc.
(17.8)
—
(17.8)
—
Repayment of loan receivable from EMX Royalty Corporation
—
10.0
—
10.0
Proceeds from sale of investments
16.9
15.8
16.9
25.5
Acquisition of gold bullion from buy-back of stream interest
—
—
(10.2)
—
Acquisition of energy well equipment
(0.3)
(0.4)
(0.6)
(1.6)
Acquisition of property and equipment
(0.1)
(0.1)
(0.3)
(2.1)
Net cash used in investing activities
$
(101.4)
$
(1,338.1)
$
(499.3)
$
(1,889.1)
Cash flows used in financing activities
Payment of dividends
$
(80.6)
$
(67.0)
$
(161.1)
$
(137.2)
Capitalized debt issue costs
(0.8)
—
(1.5)
—
Proceeds from exercise of stock options
0.2
0.9
0.6
4.3
Net cash used in financing activities
$
(81.2)
$
(66.1)
$
(162.0)
$
(132.9)
Effect of exchange rate changes on cash and cash equivalents
$
(0.4)
$
6.1
$
1.7
$
11.8
Net change in cash and cash equivalents
$
299.5
$
(967.8)
$
343.3
$
(1,291.0)
Cash and cash equivalents at beginning of period
$
714.7
$
1,128.1
$
670.9
$
1,451.3
Cash and cash equivalents at end of period
$
1,014.2
$
160.3
$
1,014.2
$
160.3
Supplemental cash flow information:
Income taxes paid
$
89.3
$
45.7
$
147.4
$
93.2
Dividend income received
$
1.5
$
2.2
$
3.1
$
5.5
Interest and standby fees paid
$
0.6
$
0.4
$
1.4
$
1.4
The condensed consolidated interim financial statements and accompanying notes can be found in our Q2 2026 Quarterly Report available on our website
ServiceNow ve 2. čtvrtletí zvýšila tržby meziročně o 24 % a uzavřela 123 nových kontraktů s roční hodnotou alespoň 1 milion USD. Firma zároveň hlásí silný zisk a vysoký volný cash flow.
Software-as-a-Service (SaaS) stocks plummeted last year as investors got nervous about their obsolescence in the age of artificial intelligence (AI). However, the fears have not been justified, at least until now, and the stocks may have been oversold.
Many SaaS companies have been thriving as they incorporate AI into their operations, offering even greater value to their clients. Palantir Technologies, Shopify, and ServiceNow (NOW +0.08%), for example, all reported outstanding results for their most recent quarters; Palantir Technologies' revenue increased 93% year over year, Shopify's were up 34%, and ServiceNow's rose 24%.
Not every fantastic company makes a fantastic investment, though. Palantir and Shopify are capitalizing on their growth opportunities, but their stocks have a premium price tag. That makes them more susceptible to dropping on bad news, and that's happened. Their stocks are down this year, even though they're back on the rise, and so is ServiceNow's. However, ServiceNow looks like a bargain, while Palantir and Shopify are still quite expensive, which is why ServiceNow is the best deal of the bunch today. Let's take a closer look.
PLTR PE Ratio (Forward 1y) data by YCharts
Workflow automation in the AI era ServiceNow provides workflow automation services to more than 8,800 enterprise clients, and its platform unifies all of the user's services, including legacy operations and AI agents, into one connected interface. It was one of the companies hit hardest by the SaaS plunge, but it already had an AI deployment model in the works as soon as AI came onto the scene, and it's taking the bull by the horns and demonstrating its value by integrating AI throughout its operations. "The path to value isn't just making AI. It's deploying AI securely across the enterprise," said CEO Bill McDermott on the second-quarter earnings call. That's what ServiceNow does.
Image source: Getty Images.
McDermott also noted that while the market is enthusiastic about the nuts and bolts of AI, or the infrastructure hardware products that are driving market gains, data company IDC says that spending on AI software is going to grow 53% this year, which is 17% higher than expected spend on AI hardware. And while investors debate the benefits of one chip stock over another, ServiceNow provides stability.
"Whichever chip wins, whichever lab wins, whichever price per token regime prevails, the enterprise needs one governed layer of record ... and ServiceNow offers needed certainty in an uncertain stack," McDermott said.
Steady growth and bigger contracts Revenue increased 24% year over year in the 2026 second quarter, driven by a 24.5% increase in subscription revenue, the kind that makes it a SaaS company. However, ServiceNow works through multiyear contracts, locking in long-term recurring revenue streams. Remaining performance obligations (RPO) increased 21% over last year, implying steady revenue for the coming years. It signed 123 transactions worth at least $1 million in net new annual contract value (ACV), nearly 40% more than last year, and it ended the quarter with 658 customers with at least $5 million in ACV, a 23% increase over last year.
In the second quarter, the company deepened some of its collaborations with top AI companies, including Nvidia, which uses its platform for agentic AI governance, and Amazon, which offers its platform to Amazon Web Services (AWS) cloud clients as a unified architecture.
Today's Change
(
0.08
%) $
0.10
Current Price
$
127.54
ServiceNow is also on an acquisition binge, beefing up its platform to handle greater workloads and security threats. It bought cybersecurity company Armis last December for $7.8 billion, and it also acquired identity security company Veza.
A profit powerhouse As a service-based stock, ServiceNow is highly profitable with strong margins. Operating margin was 29.5% in the second quarter, and free-cash-flow margin was 16%. Management is guiding for a 31.5% operating margin and 35% free-cash-flow margin for the full year. The company has generated $4.7 billion in free cash flow over the trailing 12 months, a number that continues to increase. With AI in the picture, margins could continue to expand, and management expects margins to improve as its recent acquisitions offer a new level of scale.
If ServiceNow continues to grow at similar rates and generate high profits and free cash flow, the stock will eventually catch up, which is why it looks priced to buy right now.
CME Group od 11. září rozšíří 24/7 obchodování na futures na 100uncové stříbro, po silném startu nonstop obchodování u futures na 1uncové zlato. Od 24. července se ve víkendových seancích zobchodovalo přes 53 000 kontraktů zlata.
24/7 trading in silver commences September 11 Over $200M traded in weekend sessions for 1-Ounce Gold futures since July 24 launch , /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that it will expand 24/7 trading to its 100-Ounce Silver futures contract from September 11, 2026, pending regulatory review.
"Silver bridges the precious and industrial metals worlds, acting as a diversifier for investors that responds to both macroeconomic news and real-world demand," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "Our retail clients have shown a strong appetite for right-sized gold futures available whenever they need them, so we are now extending that same 24/7 access to help participants manage risk and pursue opportunities in silver."
Since 24/7 trading in 1-Ounce Gold futures launched on July 24, over 53,000 contracts have traded during the newly expanded weekend trading sessions, representing approximately $219 million in notional value and is the largest liquidity pool for weekend trading in Gold futures. Both the 1-Ounce Gold and 100-Ounce Silver futures are designed to be right-sized for retail trading, with a smaller notional exposure.
CME Group offers the world's leading benchmark futures contract for silver. A record $50 billion average notional traded each day across CME Group's silver futures in the first half of the year. 100-Ounce Silver futures launched in February 2026, with 17,800 contracts ADV traded in the first half of 2026. CME Group's metals business set a new record in the first half of 2026, with a total of 1.3 million contracts traded daily driven by precious metals activity, up 55% year-on-year.
100-Ounce Silver futures are financially-settled based on the daily settlement price of the global benchmark COMEX 5,000-Ounce Silver futures contract and are listed by and subject to the rules of COMEX. For more information, please visit here.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
CME Group a Silicon Data plánují na 5. října 2026 spustit futures na výpočetní výkon pro zajištění nákladů na AI infrastrukturu. Smlouvy budou sledovat indexy cen pronájmu GPU H100 a B200.
, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, and Silicon Data, the industry leader in GPU market intelligence and benchmarking backed by global trading firm DRW, today announced plans to launch two Compute futures contracts on October 5, 2026, pending regulatory review.
These innovative new trading tools will bring much-needed hedging and investment vehicles to businesses looking to manage the cost of compute, the processing power and hardware infrastructure that machines need to train and run AI models. Both Silicon Data H100 Rental Index Futures and Silicon Data B200 Rental Index Futures will track indexes measuring hourly rental GPU costs published by Silicon Data. Each contract will represent a month's worth of rent for the Nvidia H100, the chip central to today's AI ecosystem, and the next-generation Nvidia Blackwell B200, respectively.
"Compute has become the currency of the AI age, and this innovative market will bring transparency to the current and future costs that AI builders and hyperscalers need to hedge as they grow," said Pete Keavey, Global Head of Energy and Environmental Products at CME Group. "Just as oil fueled the 20th century economy and evolved from spot trading into a global derivatives market, our futures contracts will now turn compute into a standardized, tradable commodity that will provide global businesses with a reliable, regulated venue to manage price risk ."
"For years, two companies buying the exact same GPU capacity could pay wildly different prices with no way to know who got the better deal. They will now have a benchmark to check that against," said Carmen Li, Chief Executive Officer of Silicon Data. "Compute futures give the market something it's never had: a public, tradable reference price for the resource every AI system runs on. Silicon Data's benchmarks make that price real; CME makes it tradable. Together, that turns compute from something enterprises negotiate blindly into a market they can actually plan around."
Explosive demand has driven sharp swings in compute prices, with volatility exposing a gap in the risk-management toolkit for companies building the AI infrastructure. CME Group and Silicon Data's Compute futures close that gap, bringing transparency to the market and allowing companies, including AI developers and hyperscalers, to lock in their costs. They will also provide a window into future AI spending.
The new contracts will be listed and subject to the rules of NYMEX. For more information on these products, please visit here.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
Cheniere Energy zvýšila výhled upraveného EBITDA pro rok 2026 na 7,90–8,40 mld. USD a DCF na 5,30–5,80 mld. USD. Tahají ji vyšší výroba, provozní zlepšení a rychlejší projekty.
SummaryCheniere Energy remains a Buy, with valuation offering a solid margin of safety and continued outperformance driving another upward guidance revision.LNG raised 2026 Adj. EBITDA guidance to $7.90–$8.40B and DCF to $5.30–$5.80B, supported by higher production, operational improvements, and project acceleration.Financial flexibility and returns are enhanced by an upsized and extended $1.75B revolver, and $7.475B liquidity, alongside robust buybacks and at least 10% annual dividend growth targeted through 2030.Macro volatility and evolving global energy dynamics pose risks, but LNG's long-term contracts, expansion, and conservative intrinsic value estimated above current levels support a favorable risk-reward.Suphanat Khumsap/iStock via Getty Images
Introduction The last time I covered Cheniere Energy (LNG), I reiterated its Buy rating, highlighting how the valuation offered a solid margin of safety despite the recent macro-driven market uncertainty.
LNG remains a Buy, as the
3.37K Followers
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in LNG over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Aster mezi 27. červencem a 10. srpnem věnoval 99 % denních poplatků na buybacky ASTER a spálil 2 851 653,28 tokenů z týmové alokace. Cena se drží kolem 0,600 USD a klíčová rezistence je 0,622 USD.
Between July 27th and August 10th, Aster allocated 99% of daily platform fees to ASTER buybacks. The project’s latest tokenomics update showed that purchases totaled 2,851,653.28 ASTER.
Source: X Aster matched those purchases with a 2.85 million ASTER burn from its team allocation.
Cumulative burns under the new tokenomics surpassed 11,086,108.41 ASTER since June 17th.
Total burns across all programs reached 188,867,109.98 ASTER. Continued platform use could link revenue to periodic token removals. At the same time, estimates placed 5.30% to 8.10% of ASTER’s supply in staking.
However, scarcity alone may not drive price higher. Buyers must still absorb available supply near resistance.
Do exchange outflows support ASTER? Exchange activity added to the altcoin’s tightening supply conditions. Spot Netflows recorded a negative $556.49K on August 10th.
Negative Spot Netflows meant more ASTER left exchanges than entered them during the measurement period.
That reduced the tokens immediately available in exchange liquidity. The direction complemented Aster’s buyback and burn program. The chart also showed several larger negative readings across ASTER’s historical flow profile.
Recent outflows were smaller individually. Even so, their direction reinforced the wider burn and staking narrative. These supply-side forces supported ASTER’s setup. However, buyers still needed to capitalize on them near resistance.
Source: CoinGlass Can ASTER reclaim $0.622? ASTER traded near $0.602 at press time after breaking below $0.622. The token traded near the range’s lower boundary around $0.600. Its previous range extended from $0.622 to $0.656.
Sellers triggered a breakdown in late July. Since then, the altcoin has moved around $0.600 without establishing a clear recovery path.
That left $0.622 as the first-level buyers needed to reclaim. A recovery above it could reopen the path toward $0.656.
Beyond that, $0.720 remained the larger resistance from June’s structure.
However, the Directional Movement Index showed weak trend conviction. The +DI stood at 17.05, while the -DI reached 15.41. The ADX stood at 12.84, indicating limited trend strength. Buyers held only a slight directional edge.
Supply tightening could support recovery, but $0.622 remained the immediate technical test.
Source: TradingView Where could ASTER move next? The Liquidation Heatmap placed the altcoin between two prominent liquidity concentrations. The nearest upside liquidity developed around $0.620. That is closely aligned with the $0.622 technical resistance.
Another significant concentration formed around $0.597, below ASTER’s recent trading range. This left the price trapped between two nearby liquidity pools near $0.600. A sustained rise could draw ASTER toward $0.620.
If selling resumed, the price could test the $0.597 concentration first. Liquidity also extended below $0.590 and $0.585. Higher concentrations appeared around $0.630 and $0.634. This kept $0.620 to $0.622 as ASTER’s near-term upside battleground.
Source: CoinGlass Final Summary ASTER buybacks, burns, staking, and negative Spot Netflows reduced the immediately available token supply. A reclaim of $0.622 could strengthen ASTER’s recovery case toward $0.656.
Ripple Treasury je napojen na SWIFT, J.P. Morgan, Goldman Sachs Asset Management’s Mosaic platform, LSEG a další velké finanční systémy. Nové Digital Asset Accounts umožňují firmám spravovat XRP a RLUSD vedle tradičních měn v jednom treasury systému.
Ripple Treasury, a platform designed by blockchain payments company Ripple to facilitate the movement of digital and traditional assets for corporates, is now connected to a growing roster of major financial infrastructure providers. These connections include prominent names such as Fides, SWIFT, J.P. Morgan, Goldman Sachs Asset Management’s Mosaic platform, KYOS, NDepth, Treasury Strategies, Curinos, Infor, Fenics Market Data, Refinitiv, London Stock Exchange Group (LSEG), FTI Treasury, FTI Consulting, and C2FO.
The companies behind the networkThese companies are integral to the mechanics of global corporate finance. Their services span bank connectivity, cash and investment management, market data, working capital solutions, and corporate accounting. Institutions such as SWIFT, the global provider of secure financial messaging services, and J.P. Morgan, one of the largest banks worldwide, manage critical components of daily financial operations for corporations.
X Finance Bull, a crypto market analyst active on X, described these organizations as representing the “plumbing” of corporate finance, underscoring the significance of their integration with Ripple Treasury. He stated the embedded connections mean treasury teams are able to work with Ripple’s technology within the familiar architectures they already use, reducing friction in adoption.
X Finance Bull noted that market participants may underestimate how extensively Ripple has integrated XRP into the existing financial ecosystem, arguing that these connections position XRP at the heart of day-to-day corporate finance operations.
Digital Asset Accounts and new treasury capabilitiesRipple Treasury introduced native Digital Asset Accounts in 2026, giving corporate clients the ability to manage XRP and RLUSD alongside traditional currencies, within the same treasury systems. This development enables organizations to value, track, and settle digital asset balances without requiring separate infrastructure or parallel workflows.
By keeping digital asset accounts within existing systems, finance teams streamline their operations and avoid the complexity of operating multiple accounting environments. This move positions Ripple Treasury as an all-in-one hub for managing both digital and fiat assets.
Mini dictionary: RLUSD – RLUSD is a digital dollar-backed stablecoin issued by Ripple. It is designed for use within Ripple’s ecosystem to enable instant, low-cost transactions and settlements across borders.
Expanding cross-border finance optionsRipple Treasury now supports workflows where companies can convert fiat money into digital assets, transfer them using blockchain infrastructure, and reconvert into destination currencies. XRP is positioned as the core bridge asset for global liquidity, enabling these seamless currency flows without direct reliance on traditional correspondent banking.
X Finance Bull has pointed to this mechanism as a key catalyst for XRP’s role in global finance, explaining that bridging traditional and crypto settlement rails addresses a long-standing pain point for multinational organizations.
The ability to route payments through XRP liquidity pools and convert between fiat and digital assets within one integrated system marks what market commentators see as a turning point in institutional digital finance.
Enabling two systems to meetRipple Treasury’s design allows corporations to adopt crypto settlement capabilities without abandoning their established finance systems. Bank integrations continue to operate as before. At the same time, XRP-powered liquidity and blockchain transaction finality become available as an additional settlement option.
Sitting between traditional banking platforms and decentralized finance infrastructure, Ripple Treasury bridges two worlds. This enables more companies to experiment with and gradually adopt blockchain-based payments, using the partners and workflows they already trust.
With major financial providers now integrated, Ripple’s ecosystem could give XRP a distribution channel that leverages the reach of the world’s leading treasury, market data, and cash management platforms.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Aviva Investors tokenizovala svůj dolarový likviditní fond na XRP Ledger v rámci partnerství se společností Ripple. Firma spravuje přes 30 miliard GBP a s Ripple bude do roku 2026 zkoumat další možnosti tokenizace.
The XRP Ledger is gaining fresh attention as Ripple expands its work with traditional finance, while Digital Asset CEO Yuval Rooz warns that crypto networks will eventually be judged by the utility and revenue they create. At the same time, banks are already using public blockchain infrastructure without waiting for the US Clarity Act.
Ripple Pushes XRP Ledger Into Traditional FinanceAviva Investors has tokenized its US dollar liquidity fund on the XRP Ledger as part of its partnership with Ripple. The firm manages over £30 billion in liquidity strategies and will work with Ripple through 2026 to explore more tokenization opportunities. The company stated tokenization does not change a fund’s underlying assets, NAV or risk profile.
It simply records ownership digitally, which could make transactions faster and more efficient. The move shows growing interest in using the XRP Ledger for real-world assets and traditional finance.
Banks Are Already Using Public ChainsThe discussion also pushed back against the idea that banks must wait for the US Clarity Act before using public blockchain networks. Rooz said banks are already using public chains, including Canton.
He noted that around 50 vendors are preparing applications for Canton ahead of the DTCC’s planned production launch in October. He also pointed to the scale of US financial markets, with equities and Treasuries together approaching $70 trillion, arguing that the industry should think beyond crypto’s current billion-dollar TVL figures.
Utility Could Separate Winners From LosersRooz further warned that many crypto networks have valuations disconnected from the actual economic activity they generate. He argued that networks making promises without delivering useful products could eventually lose most of their value.
Hyperliquid was presented as an example of a network generating revenue and using it to burn tokens, creating a model closer to a profitable public company returning value through buybacks.
He also criticized changing industry narratives, noting how crypto shifted from permissionless systems toward privacy and control. According to Rooz, maintaining a consistent product strategy helped his company nearly triple its valuation over 24 months, even while the broader market declined around 40% over the past year.
The latest funding round was led by Andreesen Horowitz and included Apollo, CME, HSBC, SoFi, SBI Japan and Hana Bank Korea, with Shinhan Financial Group joining at the last moment after the round became oversubscribed.
According to him, the company still has substantial work ahead to deliver on its projects and maintain that growth.
Story Ends Here
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Cardano Foundation schválila návrh AlphaGrowth na uvolnění 120 milionů ADA z pokladny pro likviditu v DeFi. Zhruba 90 milionů ADA je ale vázáno na fázi 3 a krátkodobé riziko činí asi 30 milionů ADA.
The @Cardano_CF has voted yes on AlphaGrowth's Cardano PRIME governance action, backing a 120 million $ADA treasury withdrawal designed to deepen DeFi liquidity across the Cardano ecosystem. The Foundation published its full rationale on chain, stating that its support rests on the programme's structure rather than its headline funding figure.
A Phased Approach With Built-In Safeguards The headline number of 120 million $ADA is subject to meaningful constraints. Around 90 million $ADA sits behind a Phase 3 release gate, meaning the bulk of the allocation will only be unlocked if an operating group approves the programme's progress after month four. That leaves near-term treasury exposure closer to 30 million $ADA. Six return-to-treasury triggers are also included in the proposal, covering unused, unearned, and unreleased funds.
Under the proposal's structure, funds would flow through Intersect, the member-based Cardano organisation, rather than directly to AlphaGrowth. The programme spans 12 months and targets improvements in protocol readiness, liquidity-provider incentives, and durable on-chain growth.
Context: What PRIME Is Trying to Solve Cardano's DeFi ecosystem has faced persistent criticism over thin liquidity and limited capital depth. AlphaGrowth's PRIME initiative aims to address those weaknesses through a coordinated programme that combines ecosystem grants, liquidity incentives, audits, and marketing. The proposal also calls for an initial audit of Cardano DeFi across 20 to 25 categories before significant capital is deployed.
The @Cardano_CF has made a practice of publishing detailed governance rationales for its DRep votes, and its backing of PRIME continues that approach. The Foundation has previously stated that transparency in governance requires not just publishing outcomes but also explaining the reasoning behind decisions.
The vote remains open for delegated representatives across the network, and the outcome will ultimately depend on whether the action clears Cardano's two-thirds supermajority threshold required for treasury withdrawals to pass.
Sources:
The Crypto Basic: Cardano TVL Declines, But Hoskinson Sees Path to Billions
DailyCoin: Cardano's $19M DeFi Plan Faces a Hard Reality Check
Cardano Foundation: Governance
Chainlink CCIP už kumulativně převedl 23,32 miliardy USD mezi 78 sítěmi a podporuje 268 cross-chain tokenů. Celková hodnota uzamčených aktiv v protokolu přesahuje 65 miliard USD.
CCIP Reaches $23.3 Billion in Cumulative Transfers@chainlink's Cross-Chain Interoperability Protocol (CCIP) has now moved $23.32 billion in cumulative transfer volume across 78 networks, with 268 cross-chain tokens supported. Total cross-chain token value stands at over $65 billion, underscoring the scale of assets now flowing through the protocol.
The numbers reflect steady momentum built over the past year. CCIP attracted more than $7 billion in migrated token value during Q2 2026, while quarterly volume reached $4.90 billion, rising 353% year over year. Kraken, Mantle, KelpDAO, and Lombard all shifted major assets to CCIP, highlighting how security concerns are accelerating moves away from legacy bridge infrastructure.
The protocol's security model is a key draw. Kraken cited CCIP's "enterprise-grade infrastructure with strict security and risk management requirements," noting that CCIP requires 16 independent node operators to validate cross-chain transactions and holds ISO 27001 and SOC 2 Type 2 certifications.
Pool Liquidity Rebounds After Spring DipValue locked in CCIP pools rose 25% over the past month to $1.81 billion, per DefiLlama, recovering ground lost through the spring after topping $2 billion late last year. The rebound points to renewed confidence in the protocol following a period of broader DeFi market softness.
On the expansion front, CCIP added mainnet support for Robinhood, Tempo, Creditcoin, NeoX, ADI, Edge, and Pharos during Q2, while its Cross-Chain Token standard gained 84 assets, including 20 tokens tied to Solana subnet environments. Usage also accelerated among established products: Maple's syrupUSDT and syrupUSDC exceeded $2.5 billion in combined volume, cbBTC volume rose 278% quarter over quarter, and GHO produced $579 million, up 94%.
The public ecosystem directory lists 2,672 live integrations, ranging from consumer apps to capital markets infrastructure, with names like Swift, DTCC, Fidelity, and UBS using Chainlink as a data and interoperability layer.
Sources:
Chainlink's CCIP Surges Past $7B in Q2 (CryptoNews)
Chainlink CCIP gains over $2.5 billion in TVL from migrating protocols (The Block)
Chainlink's CCIP stack drives $110B in value secured (Crypto.news)
The chief investment officer at Franklin Crypto, Seth Ginns, has voiced strong opposition to the proposed reduction in Ethereum’s staking rewards, arguing that the network does not face an urgent issue that would justify such a move.
Pushback against EIP-8363During an episode of the Bits + Bips show, Ginns directly addressed EIP-8363, also called the “Tapered Issuance Burn.” He described the proposal as a “solution looking for a problem” and questioned the necessity of the changes at this time. Ginns emphasized that he did not view the concerns behind the proposal as urgent and cautioned against implementing major economic changes without an extended period of open discussion.
EIP-8363, introduced on August 4 by six researchers including Justin Drake from the Ethereum Foundation, presents a new model for managing the issuance of validator rewards. The plan would gradually increase the proportion of new staking rewards burned as the total ETH staked grows, culminating in a 100% burn rate once staking reaches 60.25 million ETH, about half of Ethereum’s current supply. The mechanism would unfold over 18 months and only affect new rewards, leaving validator income from transaction fees and tips unchanged.
The proposal remains in draft status and is unlikely to be included in Ethereum’s impending network upgrade.
Mini dictionary: EIP-8363 (Ethereum Improvement Proposal 8363), dubbed the “Tapered Issuance Burn,” is a draft proposal to reduce staking rewards by burning a larger share of newly issued ETH as more coins are staked, aiming to address concerns about centralization.
Arguments for and against the proposalSupporters of EIP-8363 contend that the gradual burn would help limit the amount of ETH locked in staking, thereby reducing the risk of centralization by large operators. They argue that too much staking could give disproportionate influence to a small number of powerful validators.
Ginns, however, dismissed the notion that large institutional participants have taken control of Ethereum. He highlighted that digital asset treasuries and spot ETFs have together contributed more than $10 billion into ETH over the past year. Ginns maintained that this “institutional wave of flows has been unambiguously positive” for the Ethereum network, and cautioned against viewing these inflows as problematic.
Ginns argued against labeling the influx of institutional funds as a sign of capture, stating that it is an oversimplification of Ethereum’s evolving landscape.
Others within the Ethereum ecosystem have echoed Ginns’s concerns. Stani Kulechov, founder of Aave, referred to EIP-8363 as potentially one of the most strongly opposed proposals in Ethereum’s history. Mike Silagadze, who leads ether.fi, warned that implementing the burn could push solo stakers out of the network, favoring larger players.
Ginns concluded that instead of focusing on further modifications to tokenomics, Ethereum developers and stakeholders should prioritize encouraging real-world use cases and broad adoption.
Prominent community members have cautioned that EIP-8363 could harm network diversity and discourage participation by smaller validators.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Uniswap nasadil svůj systém Continuous Clearing Auction (CCA) na Avalanche, kde týmy mohou spouštět on-chain prodeje tokenů a automaticky zakládat likviditu na Uniswap v4.
@Uniswap has brought its Continuous Clearing Auction (CCA) system to @avax, giving teams on Avalanche a native way to run onchain token sales, set a market-driven clearing price, and automatically seed liquidity on Uniswap v4.
How the auction mechanism works The CCA framework is designed around a straightforward principle: instead of a single-moment token sale, bids accumulate across multiple blocks and every winner pays the same final clearing price. The block-by-block model is structured to improve price discovery and automate liquidity setup, letting demand interact with supply over time rather than in one instant. The uniform clearing price means what a participant pays depends on collective demand rather than execution speed or gas optimisation, a design explicitly aimed at blunting sniping bots that typically front-run token launches.
When an auction concludes, it automatically seeds a Uniswap v4 liquidity pool, so the token moves directly from sale to a live trading venue without any manual pool configuration. Teams define the key parameters: which token they are selling, the starting price, a floor price, and how long the auction runs.
The protocol was built in collaboration with Aztec, the first project to launch with CCA, and includes an optional ZK Passport module that enables private, verifiable participation. Aztec's debut auction raised $60 million from more than 17,000 bidders, with Uniswap reporting no instances of sniping or automated manipulation.
A growing multichain footprint The Avalanche deployment is part of a steady multichain expansion for the CCA product. Uniswap's CCA contracts were already live on Ethereum mainnet and the Unichain, Arbitrum, and Base layer-2 networks before Tuesday's Avalanche rollout. The system has also been live on Robinhood Chain since July 13, giving teams there a native way to sell tokens, discover a market price, and seed liquidity into v4.
Robinhood Chain processed more than $6 billion in Uniswap swap volume within ten days of its July 1 launch, underscoring the scale of activity Uniswap is now managing across its expanding network of deployments. The Avalanche addition extends that reach to one of the larger independent layer-1 ecosystems outside Ethereum.
Sources
Uniswap Labs: Continuous Clearing Auctions announcement
The Block: Uniswap rolls out Continuous Clearing Auctions on main frontend
Yahoo Finance: Inside Uniswap's land grab on Robinhood Chain
Investors Are Buying Into Sweetgreen Again—Should They?CAVA Group NYSE: CAVA reported second-quarter 2026 revenue growth of 31.3% as same-restaurant sales increased 9%, supported by 5.3% traffic growth and continued strength in new restaurant openings.
Revenue rose to $365.4 million, while net income increased to $23 million from $18.4 million in the prior-year quarter. Diluted earnings per share were $0.19, compared with $0.16 a year earlier. Adjusted EBITDA increased 30% to $54.7 million.
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CAVA Group’s Stock Looks Delicious After Strong Earnings“Our second quarter results underscore the continued strength of our category-defining brand and the resonance of our value proposition with today’s consumer,” Co-Founder and CEO Brett Schulman said on the company’s earnings call.
Restaurant Growth and Sales Trends CAVA opened 17 net new restaurants during the quarter, ending the period with 476 locations across 29 states and Washington, D.C. The company said new restaurant productivity remained above 100%, while systemwide average unit volumes reached $3.1 million.
Shake Shack Stock Gets Shaken After Earnings MissThe chain expanded into Indiana and Ohio during the quarter and plans to enter Las Vegas in the second half of 2026. CAVA also said it expects to expand into the Bay Area in 2027.
Chief Financial Officer Tricia Tolivar said the company’s new-unit performance was broad-based across geographies and restaurant formats. She added that the 2024 restaurant cohort has produced double-digit same-restaurant sales and represents the company’s highest-performing vintage.
CAVA maintained its full-year outlook for 75 to 77 net new restaurant openings and same-restaurant sales growth of 4.5% to 6.5%. Tolivar said the low end of that sales range would imply slightly negative same-restaurant sales, while the upper end would imply mid-single-digit growth.
She said the company’s most recent same-restaurant sales performance had recovered to the mid-single digits after concerns over a Cyclospora outbreak affected sales earlier in the third quarter. CAVA said it does not source leafy greens from Mexico and does not serve iceberg lettuce, but it saw near-term sales pressure from broad consumer concerns about lettuce and fresh produce.
Schulman said CAVA had not seen immediate effects from a separate Salmonella outbreak and does not source from associated farms. The company is continuing to consult with its food safety advisory council, he said.
Margins Reflect Food, Labor and Delivery Costs Restaurant-level profit rose 28.1% to $93.8 million, though restaurant-level margin declined to 25.7% of revenue from 26.3% a year earlier.
Food, beverage and packaging costs represented 30% of revenue, up 50 basis points year over year, largely due to costs associated with the launch of salmon. Labor and related costs were 25.3% of revenue, up 30 basis points, driven in part by a 3% wage investment for team members. Occupancy and related expenses improved by 50 basis points to 6.3% of revenue due to sales leverage. Other operating expenses increased 40 basis points to 12.8% of revenue, primarily because of a higher mix of third-party delivery. Tolivar said food, beverage and packaging costs are expected to increase as a percentage of revenue through the remainder of the year because of fuel surcharges and the rollout of pre-marinated chicken. The company plans to roll out the chicken product across restaurants during the balance of 2026 and into 2027.
Schulman said the pre-marinated chicken is intended to reduce manual kitchen preparation, improve consistency and allow restaurant teams to devote more time to guest service rather than requiring immediate labor-hour reductions.
CAVA reiterated its full-year restaurant-level margin outlook of 23.7% to 24.3% and Adjusted EBITDA guidance of $181 million to $191 million, including pre-opening costs. The company expects fourth-quarter restaurant margins to be seasonally lower than third-quarter margins.
Menu Innovation, Loyalty and Operations During the quarter, CAVA launched Pomegranate Glazed Salmon nationwide, its first seafood offering. Schulman said guest reception was strong and performance was in line with expectations. The item increased the rate of new customers and helped drive purchase frequency among loyalty members who ordered salmon, according to the company.
CAVA plans to retain salmon through the end of 2026. It also recently completed a market test of Roasted Garlic Shrimp and said the product is proceeding through its testing process. Planned seasonal offerings in the second half include a new dressing and another pita chip flavor.
The company continued developing its loyalty program through the launch of Flavor Passport, an in-app feature intended to encourage customers to explore menu offerings and earn rewards. Tolivar said the loyalty member base is growing faster than the company’s restaurant count.
CAVA also plans to launch a second catering market test later this fall, expanding beyond its initial test in Houston. Schulman said the company is focused on understanding production capacity, load balancing and restaurant execution before a broader rollout.
On staffing, the company’s assistant general manager roles have been rolled out to 70% of the fleet. Schulman said the initial rollout has been associated with improved team-member and guest satisfaction, as well as improved speed of service.
Liquidity and Capital Investment CAVA ended the quarter with no debt outstanding, $435.6 million in cash and investments, and an undrawn $150 million revolving credit facility. Cash flow from operations rose to $134.5 million through the second quarter, compared with $98.9 million in the prior-year period, while year-to-date free cash flow totaled $44.8 million.
Tolivar said free cash flow typically becomes less favorable in the latter half of the year as the company invests in its development pipeline. CAVA also expects to invest roughly $5 million to $10 million in restaurant enhancements, including certain Project Soul refreshes and potential grill expansions to support demand at some locations.
About CAVA Group (NYSE:CAVA)CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.
Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.
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In brief Solana trades at a $75.06 price, down 1.22% on the day, holding just above its 50-day moving average. The daily chart paints a formation traders refer to as a death cross, a classic bearish indicator. Prediction-market traders on Myriad price a dump to $40 at 69%, against a pump to $160 at 31%. Solana has risen up the ranks of the crypto market charts over the last few years, but the bear market has taken a toll—and the broader macro environment isn’t give SOL much of a tailwind.
Bitcoin is trapped between roughly $62,000 support and $67,000 resistance after a brutal early-August selloff, holding under $65,000, while Ethereum has pulled back to the $1,825–$1,850 zone after getting rejected at higher levels.
A weak tape across the two largest assets caps how far any altcoin bounce can run, and Solana, which trades as SOL, is moving with them, down 1.22% on the day at $75.06 and a $43 billion market cap.
There are some potential catalysts on the horizon, however, beginning with the coming Alpenglow consensus upgrade. The overhaul is meant to cut finality to 100–150 milliseconds and entered community validator testing and is targeted for mainnet activation in August. Traders have been positioning for the rollout, but the date is still a target, not a locked event. Until it ships, the chart is doing the talking, and it has SOL back on its 50-day average after a pullback from the $90 spike—the first line of defense for any recovery.
Another development to take into consideration is a recent tokenomics proposal. Validators are close to advancing SGP-0003, which bundles two changes aimed at tightening Solana's supply: SIMD-0553 would introduce resource-based fees and lift daily SOL burns more than 10-fold—from about 650 SOL (roughly $48,000) to between 7,500 and 9,000 SOL (up to about $668,000)—while SIMD-0550 would double the annual disinflation rate to 30%, pulling the 1.5% inflation floor forward from 2032 to 2029.
Supporters include Helius, Jupiter, Drift, and Solana Compass. A supply-side squeeze like that is the kind of catalyst the chart can't show.
SOL price: What the charts saySolana is trading at $75.06 on the daily charts, down 1.22% on the day, after a late-August pullback from a spike near $90. Price is holding just above the average price of its last 50 days, back in the support that defines the current range.
Solana carved a steep downtrend from the mid-$90s in May to about $62 in early June, then staged a V-shaped August rally that peaked just under $85 before rolling over. The drop from that high to $75.06 is roughly a 17% retrace, and crucially it's been absorbed right at the 50-day exponential moving average, or EMA, rather than slicing through it.
Exponential moving averages smooth out day-to-day noise by weighting recent closes more heavily, so the 50- and 200-day lines show where the medium-term crowd actually paid, not last tick's panic.
If a market goes through a normal cycle change, these changes happen slowly, with both EMAs approaching over time after being almost stable for a bit. That's the first step toward stabilization the bulls need—but the rally failed to hold above the 200-day EMA near $85, so the move still looks like a lower-high rejection off a major average, not a trend reset. A daily close back under the 50-day EMA would flip this from "holding support" to "losing it."
The Relative Strength Index, or RSI, reads 50.5. RSI is a momentum gauge on a 0–100 scale: above 70 is overbought, below 30 is oversold. At 50.5, SOL is exactly on the midline—neutral, with no momentum edge either way.
Squeeze Momentum is on for three days and seems to point towards a recovery. A squeeze means volatility has contracted and a move is loading; this one carries a faintly positive bias, but +0.28 is barely off zero.
The Average Directional Index, or ADX, reads 11.9. ADX measures trend strength, not direction: below 20 means the market is directionless and choppy, so false breakouts and stop hunts are common. The directionality is also ever so slightly bullish, but with ADX this low the signal means little.
Myriad's open SOL market frames the extremes. Traders there are pricing a dump to $40 at 69% and a pump to $160 at 31%, with the market open until the coin hits a target. The 69% lean toward $40 is basically a bet that stacks the current hold at the 50-day EMA against a deeper leg down.
For more information, or to participate, click here to place your prediction on Myriad.
Myriad: SOL next move: Pump to $160 or Dump to $40?The price chart doesn't support a run to $160 from here: that would need a daily close back above the 200-day EMA near $85 first, and the death cross says the path of least resistance is still down.
Bull case: SOL holds the 50-day EMA and the 74.73–75.71 Fib green zone, then reclaims $77.50 (the resistance marked on the chart) and pushes toward the 200-day EMA near $85. A daily close back above $77.50 confirms the 50-day EMA held and reopens the August high.
Bear case: a daily close below $72 breaks the green zone and opens $70.58, then the early-July floor near $65.
All things considered, Solana is holding its 50-day EMA, but the 200-day EMA above and the death cross below still frame this as a bounce inside a downtrend, not a turn.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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Stříbro (XAG/USD) je o 1,1 % výše kolem 65,40 USD, protože trh vyhlíží dnešní americká data o CPI za červenec. Investoři sledují inflaci kvůli výhledu Fedu.
Silver price (XAG/USD) trades 1.1% higher at around $65.40 during the Asian trading session on Wednesday. The white metal reflects strength ahead of the United States (US) Consumer Price Index (CPI) data for July, which will be published at 12:30 GMT.
According to estimates, the US headline CPI grew at an annual pace of 3.4%, slower than 3.5% in June. In the same period, the core CPI – which excludes volatile food and energy items – is also seen lower at 2.5% Year-on-Year (YoY) from the previous reading of 2.6%.
On a monthly basis, the headline and core inflation grew by 0.1% and 0.2%, respectively.
Investors will pay close attention to the US inflation data to get fresh cues regarding the Federal Reserve’s (Fed) monetary policy outlook. In the latest monetary policy announcement, Chairman Kevin Warsh warned of upside inflation risks, adding that the board is committed to bringing inflation down to the 2% target.
Meanwhile, surging oil prices due to restricted global energy supply on the back of Middle East conflicts will likely limit the Silver price’s upside.
According to data from Kpler, shipping traffic through the Strait of Hormuz, a vital passage to almost 20% of global energy supply, was recorded at just six vessels on August 10, down from a recent 10-day average of about 11. This remains a massive decline from pre-war levels of 130 to 140 ships daily, Reuters reports.
On Tuesday, the CME Group said that it will allow round-the-clock trading in its 100-ounce silver futures contract from September after seeing a strong response for the 1-ounce Gold futures contract, which began on July 24, Reuters reports.
Silver Technical Analysis
In the daily chart, XAG/USD trades at $65.53, extending its advance above the 20-day exponential moving average (EMA) at $61.28 and reinforcing a bullish near-term bias.
Price action has steadily pushed away from the prior consolidation zone, while the Relative Strength Index (14) at 61.21 stays in positive territory but short of overbought, hinting that upside momentum remains constructive without being overstretched.
On the downside, immediate support is seen at the 20-day EMA around $61.28, which underpins the broader rebound and would be the first line of defense on any pullback. Looking up, the white metal would attempt to extend the advance towards the June 17 high at $71.56 if it manages to break above the August 10 high at $66.59.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Wrap Technologies ve 2. čtvrtletí zvýšila tržby na 2,1 milionu USD, meziročně o 103 %, a hrubý zisk vzrostl o 217 % na 1,5 milionu USD. Firma zároveň uvedla, že ATF rozhodl, že BolaWrap 150 není střelná zbraň ani zbraň.
Wrap Technologies NASDAQ: WRAP reported second-quarter revenue of $2.1 million, up 103% from $1.0 million a year earlier, as the company highlighted expanding product offerings, new training services and opportunities in private security, federal markets and threat detection.
Gross profit rose 217% to $1.5 million, while gross margin expanded to about 75% from approximately 48% in the prior-year quarter. The company’s operating loss narrowed 21% to $2.3 million, and its net loss improved 39% to $2.3 million. Vice President of Finance Lou Springer said the prior-year period included a $0.9 million non-cash loss tied to changes in the fair value of warrant liabilities that did not recur.
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Cash and cash equivalents totaled $4.8 million at June 30, compared with $3.5 million at the end of 2025. Total liabilities declined to $2 million from $3.9 million, reflecting the termination of the company’s former office lease.
ATF Decision Opens Private-Security Focus Chief Executive Officer Scot Cohen said the company is coming off its “best quarter in years,” citing revenue growth, improved operating efficiency and an expansion from a single-product business into a broader portfolio of products and training services.
A central development cited by management was an early-July determination from the Bureau of Alcohol, Tobacco, Firearms and Explosives that the BolaWrap 150 is not classified as a firearm or weapon. President and Chief Operating Officer Jared Novick said the determination applies only to the BolaWrap 150 and not to the company’s other products.
Management said the classification could broaden the company’s ability to sell into private security, where many guards are unarmed and receive less training than law-enforcement officers. Novick said there are more than 1.2 million licensed security officers in the United States, a population larger than all law enforcement.
Cohen said Wrap has held dozens of discussions with prospective private-sector customers in the past month and has received its first grant-funded training order in the market. He also said the company expects insurance companies to become an important part of its go-to-market effort, particularly as customers look for risk-mitigation tools and training.
“Expect partnerships. Expect additional pipeline,” Cohen said regarding the insurance opportunity.
Training Model Shifts Toward Recurring Revenue Novick said the company is seeking to sell a continuing standard of readiness rather than simply a restraint device and a one-day training course. The company launched its WrapTactics training platform earlier this year, and Novick said its core content library was complete as of the call.
The model uses digital instruction in advance of in-person sessions, allowing classroom time to focus on scenario work, coaching, certification and customer relationships. Management expects the learning management system, in-person instruction and virtual-reality offerings to support subscription-based recurring training and proficiency revenue.
Novick said Wrap Reality, the company’s virtual-reality training platform, remains central to its offering. The company has added scenarios and made hardware and software updates, he said, while positioning the platform alongside digital learning and in-person training.
Federal Funding and Frenel Opportunity Management also pointed to the return of Department of Justice grant funding. Cohen said Wrap has identified 11 active programs that could fund BolaWrap devices, body cameras, de-escalation training and virtual training. He said grants are particularly important for small and midsize law-enforcement agencies.
Novick said Wrap received a purchase order from the Department of Homeland Security and delivered training during the second quarter, completing what the company believes was an initial phase of support for DHS operational requirements. He said prospective federal opportunities are not included in the company’s guidance.
Separately, Wrap is pursuing a threat-detection business through its exclusive U.S. and NATO rights to TPiCore by Frenel, a polarimetric sensing technology. Cohen said the technology can detect, identify and classify objects based on materials and shapes, including RF-silent and camouflaged targets in challenging environments.
Management said the technology could have applications in counter-drone operations, border security, maritime surveillance, national defense and public safety. The company is building what it calls the WrapShield platform around integrated solutions, although executives did not provide financial projections for the initiative.
Outlook and Capital Considerations Cohen said the company has not changed its prior target for approximately 100% year-over-year revenue growth and has no new information requiring an update. However, he cautioned that the timing of one or two significant orders could materially affect the company’s results and that the target could move higher or lower as the year progresses.
Regarding Chile, Cohen said the company’s distributor still expects business this year but has cited a government funding gap. Wrap is exploring whether U.S. government funding could support the opportunity, but Cohen said Chilean business is not included in the company’s 2026 revenue forecast.
On financing, Cohen said Wrap regularly evaluates options that could benefit shareholders and remains sensitive to dilution. The company is operating around a $3 million break-even level and does not anticipate a dramatic near-term increase in spending. Still, Cohen said management could accelerate investment and potentially access capital markets if market traction develops as expected.
About Wrap Technologies (NASDAQ:WRAP)Wrap Technologies, Inc NASDAQ: WRAP is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.
Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.
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Zlato se drží poblíž 4 400 USD a trh čeká na americký CPI, který rozhodne o dalším pohybu. Silnější jádrová inflace by podpořila USD a výnosy, slabší by zlatu pomohla.
Gold is back on the bids and looks to regain the $4,400 level in Wednesday’s Asian trading, having found buyers near the $4,350 region. All eyes remain on the high-impact US Consumer Price Index (CPI) data, which could determine if Gold stretches higher or corrects sharply.
Gold’s fate hinges on the US CPI inflation reportGold has regained its upside momentum, following a brief profit-taking pullback from the ten-week high of $4,435 reached on Tuesday.
Nothing appears to have changed in the fundamental backdrop as the deadlock between the United States (US) and Iran over the talks on the reopening of the Strait of Hormuz and the US and Yemen's Iran-aligned Houthis’ separate attacks on shipping continues to keep Oil prices and inflation concerns elevated.
However, that fails to deter Gold bulls, as they remain hopeful of another benign inflation report from the US, following the weak Nonfarm Payrolls print for July, which helped markets dial down expectations on a US Federal Reserve (Fed) interest rate hike in September.
At the press time, the odds of a September Fed rate hike stand at a coin-toss level, according to the CME Group’s FedWatch Tool, shifting the focus back to the US CPI data release, particularly the core inflation readings, as they are shielded from the war-driven energy swings.
The annual core CPI is seen rising by 2.5% in July, slowing from a 2.6% increase in June. Meanwhile, core CPI inflation is expected to climb to 0.2% month-over-month (MoM) in July, following a flat reading in June.
Gold faces two-way risks ahead of the US inflation showdown, with hotter-than-expected core CPI readings likely to ramp up bets on a September Fed rate hike, boosting the US Dollar (USD) and US Treasury bond yields at the expense of the non-yielding Gold.
On the other hand, softer core prints could provide fresh legs to the bullion’s uptrend, as the data would further reduce bets on Fed rate hikes this year and fuel a USD downtrend.
However, the geopolitical risk premium will continue to remain in play and could leave Gold’s initial reaction to the CPI release short-lived.
Gold holds firm as stagflation narrative supports CTA lengthAccording to TD Securities, “precious metals maintain a bid,” with the yellow metal “holding gains, and maintaining CTA length north of $4,400/oz, even as oil prices and rates continue to churn higher.” The firm notes that “recent price action continues to hint at a growing stagflationary theme in the gold market,” adding that while “inflation data and Fed pricing will remain keenly watched, a stronger-than-expected inflation print may be needed to shake the current narrative.”
Gold price technical analysis: Daily chart
In the daily chart, XAU/USD trades at $4,398.04. The metal holds a bullish near-term bias as the spot price remains above the 21-day, 50-day and 100-day simple moving averages (SMAs), with the latter providing nearby trend support around $4,388.40. The 200-day SMA at $4,500.55 looms as the next major upside barrier, while the Relative Strength Index (14) at 67.03 approaches overbought territory, hinting that the latest advance could be losing momentum as it nears that longer-term hurdle.
On the downside, immediate support is seen at the $4,398.04 area, followed closely by the 100-day SMA at $4,388.40, forming a shallow demand cluster before deeper support emerges at the 50-day SMA near $4,147.80 and the 21-day SMA around $4,133.91. On the topside, a decisive break above the 200-day SMA at $4,500.55 would open the door for a continuation of the broader bullish trend, while failure to clear this level would keep gold confined to a consolidative phase above its short- and medium-term averages.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Indicator Consumer Price Index ex Food & Energy (MoM) Inflationary or deflationary tendencies are measured by periodically summing the prices of a basket of representative goods and services and presenting the data as the Consumer Price Index (CPI). CPI data is compiled on a monthly basis and released by the US Department of Labor Statistics. The MoM print compares the prices of goods in the reference month to the previous month.The CPI Ex Food & Energy excludes the so-called more volatile food and energy components to give a more accurate measurement of price pressures. Generally speaking, a high reading is seen as bullish for the US Dollar (USD), while a low reading is seen as bearish.
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The US Federal Reserve has a dual mandate of maintaining price stability and maximum employment. According to such mandate, inflation should be at around 2% YoY and has become the weakest pillar of the central bank’s directive ever since the world suffered a pandemic, which extends to these days. Price pressures keep rising amid supply-chain issues and bottlenecks, with the Consumer Price Index (CPI) hanging at multi-decade highs. The Fed has already taken measures to tame inflation and is expected to maintain an aggressive stance in the foreseeable future.
Inflation FAQs Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.
Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
AtriCure uvedla, že míří na tržby 1 miliardu USD do roku 2030, podpořené růstem v oblasti AFib, léčby bolesti a klinických studií. Firma už začala generovat zisk i cash flow.
AtriCure NASDAQ: ATRC said it is seeing continued growth across its atrial fibrillation, left atrial appendage management and postsurgical pain-management businesses, supported by new product adoption, expanding procedure volumes and progress in clinical trials.
Speaking at the Canaccord Genuity Global Growth Conference, President and CEO Mike Carrel said the company focuses on treating complex atrial fibrillation, or AFib, and pain after surgery. Its portfolio includes ablation products, AtriClip devices for managing the left atrial appendage to reduce stroke risk, and cryoablation technology designed to temporarily block pain signals after invasive procedures.
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Carrel said AtriCure has produced approximately 18% compound annual growth over the past five years and has begun generating profit and cash flow. He cited 77% gross margin in the most recent quarter and net income for a third consecutive quarter. The company has guided for annual revenue of roughly $602 million to $610 million, he said, while its long-range plan calls for $1 billion in revenue and 20% adjusted EBITDA by 2030.
Pain-management franchise drives volume growth CFO Angela Wirick said thoracic procedures remained the primary growth driver in AtriCure’s U.S. pain-management business during the second quarter. The launch of the cryoSPHERE MAX product, which cuts freeze time for certain procedures in half, has accelerated procedure volumes, she said.
Wirick said pain-management volume rose about 25% during the quarter, while the number of accounts grew approximately 12%, indicating that surgeons are using the technology in more procedures within existing accounts. She said market penetration is around 20% in thoracic procedures and remains substantially lower in sternotomy and amputation applications.
Carrel said the company has more than 2,000 systems installed in thoracic centers across the U.S. and more than 100 field personnel across clinical and sales roles supporting the pain business. He said the company views its installed infrastructure, clinical knowledge and field presence as competitive barriers, alongside its ability to manufacture systems at scale.
The company is also expanding cryotherapy into amputations through its cryoXT device. Carrel described the amputation opportunity as being in its early stages, while Wirick said AtriCure sees favorable momentum across pain-management applications.
Margins supported by product mix Wirick said product mix was the largest contributor to the company’s 77% gross margin in the latest quarter, as newer U.S. product launches represented a higher share of revenue and carried favorable margins. Geographic mix also contributed, she said, as U.S. margins are higher than those generated in international markets.
She said a new manufacturing facility is expected to come online during the current quarter, which could bring gross margin back toward the 76% range in the near term. Still, Wirick said AtriCure believes it has a path to continued margin improvement through the rest of the decade as it introduces new products and pursues manufacturing efficiencies.
While the company expects higher research and development spending in the second half of the year due to clinical-trial costs, Wirick said management continues to see a path to improved adjusted EBITDA. The company also expects only incremental sales-force investments as it prepares for potential market expansion from trial data, rather than a major increase in headcount.
Clinical trials could expand addressable market Carrel highlighted two major cardiac-surgery trials: LeAAPS, evaluating stroke reduction through prophylactic left atrial appendage management, and BoxX-NoAF, studying whether ablation can reduce postoperative AFib in cardiac-surgery patients.
LeAAPS enrolled 6,573 patients and is event-driven. Carrel said the study has passed 50% of its targeted events and is tracking ahead of the company’s original expectations, although he said AtriCure cannot provide a specific timing estimate for efficacy data. The company expects data by the end of the decade and said safety results have included zero device-related events in the trial.
BoxX-NoAF, a 1,000-patient trial, enrolled about 50% faster than expected, according to Carrel. AtriCure now expects full enrollment by the end of the year and data by the middle of next year. Carrel said positive results on the trial’s postoperative AFib endpoint could change usage patterns and support a label change, citing the clinical and hospital-resource burden associated with postoperative AFib.
Carrel said AtriCure estimates it has penetrated around one-third or less of the U.S. cardiac-surgery market for AtriClip, leaving substantial room for expansion if LeAAPS data are favorable. He said international penetration is below 15%.
Competition and capital allocation On potential competition from larger medical-device companies, Carrel said their interest in the left atrial appendage market validates the size of the opportunity. He said AtriCure’s differentiation includes product innovation, a large body of clinical evidence and an established field organization focused on AFib and cardiac surgery.
Wirick said the company’s capital-allocation priorities are to strengthen its balance sheet and fund organic investments, including R&D and commercial opportunities. She said mergers and acquisitions are not a high priority because management sees significant internal growth opportunities.
About AtriCure (NASDAQ:ATRC)AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.
The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.
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What PMI Data Says About the NFP Report: 3 Hidden OpportunitiesH&R Block NYSE: HRB reported fiscal 2026 revenue growth of 4.9% and adjusted earnings-per-share growth of 13.9%, as the tax-preparation company cited improved client conversion, retention and demand from more complex filers.
For the fiscal year, revenue totaled $3.95 billion, while EBITDA increased 8.3% to $1.06 billion. Adjusted diluted EPS rose to $5.31, compared with the prior year, and adjusted net income was $688 million. Net income from continuing operations was $736 million, or $5.69 per share.
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3 High-Quality Value Stocks You Should KnowChief Financial Officer Tiffany Mason said revenue growth was led by higher net average charge and company-owned volume in U.S. assisted tax preparation, international revenue growth and continued momentum at small-business platform Wave. Wave posted its second consecutive year of double-digit revenue growth, supported by paid professional-tier subscriptions and higher payments volume.
Operating expenses increased 3.6% to $3.04 billion, primarily reflecting higher tax-professional wages, occupancy costs and technology-related expenses. EBITDA margin expanded by 80 basis points during the year.
Client Trends and Technology Initiatives 3 Unstoppable Value Stocks You Did Not Expect President and Chief Executive Officer Curtis Campbell said the company maintained share in the assisted tax-preparation category after two years of improving trends. Conversion improved by 200 basis points, which Campbell described as the largest single-year improvement in H&R Block’s recorded history, while client retention increased 190 basis points.
Campbell said the company is emphasizing clients with more complex financial needs and higher lifetime value rather than pursuing transaction-oriented volume. The share of H&R Block clients within its target household adjusted gross income range of $50,000 to $200,000 increased to 50% from 38% over the past several years, according to the company.
The company also highlighted its “Second Look” offering, which reviews up to three prior years of returns for new clients to identify potential missed opportunities. New clients receiving Second Look returned at a rate more than 600 basis points above clients who did not receive the service, Campbell said. H&R Block has automated the process using newer artificial-intelligence capabilities and is working toward offering it to nearly all new assisted clients.
Technology initiatives included the rollout of Sidekick, an AI assistant for tax professionals, and AI Tax Assist for paid do-it-yourself filers. AI Tax Assist supported 4.2 million client interactions during the season and drove nearly twice the engagement recorded a year earlier, Campbell said.
Management said it views AI as a tool to enhance professional expertise rather than replace tax professionals. Campbell said higher-stakes and more complex tax situations require “confidence, judgment, and accountability,” and that the company’s strategy is to automate data collection, data entry and other mechanical tasks so tax professionals can focus more on client advice.
Advisory Model Expansion H&R Block conducted more than 150 experiments during the tax season, Campbell said, including a pilot in five offices designed to provide a more consultative and advisory client experience. The pilot offices generated higher client satisfaction, greater client belief in the company’s expertise and value, and increased engagement beyond tax season, according to management.
Based on those results, the company plans to expand the model to a full designated market area for the 2027 tax season. Investments will include labor and training, tax-preparation and workflow automation, and integration of Wave into the company’s broader small-business strategy, Mason said.
The company is also transitioning from seasonal office leadership to a year-round leadership model. Area experience leaders will oversee a small number of offices, develop talent, coach associates and seek to improve consistency in the field. The transition and streamlining of support functions resulted in an approximately $8.3 million severance charge in the first quarter of fiscal 2027, which is excluded from the company’s outlook.
Cash Flow, Capital Returns and Outlook H&R Block generated $756 million of free cash flow in fiscal 2026 and returned $714 million to shareholders through dividends and share repurchases. During the year, the company repurchased and retired about 10.5 million shares, or 7.9% of shares outstanding, for $500 million.
The board approved a 10% increase in the quarterly dividend to $0.46 per share. The company expects to repurchase about $400 million in stock during fiscal 2027, subject to market conditions, and had approximately $600 million remaining under its $1.5 billion repurchase authorization.
For fiscal 2027, H&R Block forecast:
Revenue of $4.11 billion to $4.16 billion. Adjusted EBITDA of $1.11 billion to $1.14 billion. An effective tax rate of approximately 23%. Adjusted diluted EPS of $6.04 to $6.24. Mason said the outlook assumes tax-industry growth will moderate but remain positive, as stable unemployment supports tax filings while slower job growth limits new filings. At the low end of its forecast, H&R Block expects to maintain its assisted-category market share; at the high end, it assumes market-share growth.
The company expects to continue taking low-single-digit pricing increases. In fiscal 2026, assisted-channel volume rose 2%, net average charge increased 4.1%, price increased about 3%, and mix contributed about 1%, Mason said. H&R Block also expects to make approximately 100 to 125 opportunistic franchise buybacks during fiscal 2027, compared with 160 in fiscal 2026.
About H&R Block (NYSE:HRB)H&R Block NYSE: HRB is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.
Founded in 1955 by brothers Henry W.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Akcie Autodesk v posledním obchodování klesly o 1,75 % na 251,59 USD, ale za poslední měsíc přidaly 20,66 %. Trh čeká výsledky 27. srpna 2026; odhady počítají s EPS 3,12 USD a tržbami 2,01 miliardy USD.
In the latest trading session, Autodesk (ADSK - Free Report) closed at $251.59, marking a -1.75% move from the previous day. This change lagged the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.34%, while the tech-heavy Nasdaq depreciated by 0.6%.
The stock of design software company has risen by 20.66% in the past month, leading the Computer and Technology sector's gain of 0.32% and the S&P 500's gain of 2.46%.
The upcoming earnings release of Autodesk will be of great interest to investors. The company's earnings report is expected on August 27, 2026. In that report, analysts expect Autodesk to post earnings of $3.12 per share. This would mark year-over-year growth of 19.08%. In the meantime, our current consensus estimate forecasts the revenue to be $2.01 billion, indicating a 13.96% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.58 per share and revenue of $8.19 billion, indicating changes of +20.61% and +13.65%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Autodesk. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Autodesk possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is presently being traded at a Forward P/E ratio of 20.36. This expresses a discount compared to the average Forward P/E of 21.5 of its industry.
It is also worth noting that ADSK currently has a PEG ratio of 1.21. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.18 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
ACV Auctions oznámila ve 2. čtvrtletí tržby 214 milionů USD, ale i nečekanou čistou ztrátu 8,2 milionu USD, tedy 0,05 USD na akcii. Bloomberg zároveň uvedl, že firma zvažuje strategické alternativy včetně prodeje.
Tuesday was quite an eventful day in the corporate life of ACV Auctions (ACVA +0.00%). The vehicle wholesaler reported quarterly earnings that featured a surprise net loss. This was counterbalanced by takeover speculation arising from a media report that morning.
The negative of the shock loss and the positive of the potential premium sale balanced each other out, and the stock ended up trading flat on the day.
Stuck in reverse? The first of those developments was the earnings release. ACV's second-quarter revenue was $214 million, which was 10% higher than the year-ago tally. Its marketplace gross merchandise value (GMV), however, was essentially flat at $2.7 billion. The company's net loss deepened to $8.2 million ($0.05 per share) from second quarter 2025's $7.3 million.
Image source: Getty Images.
That meant a double miss for ACV. Analysts tracking the company collectively estimated revenue of just under $215 million. Worse, they believed it would book a bottom-line profit of $0.05 per share.
Later that morning, Bloomberg reported that ACV is exploring strategic options, including a sale to a potential new owner or a strategic partnership. Citing unnamed "people familiar with the matter," the financial news agency said the company had received takeover interest and was collaborating with advisors to formally review these options.
Bloomberg did not identify any potential suitors for the company. According to its sources, if a deal is going to be reached, it's at least several weeks away.
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Potential self-auction ACV hasn't done spectacularly in some recent quarters, so perhaps the "shock" loss isn't all that shocking in the end. I don't think the second-quarter figures are overly worrying, but I'm not seeing much that's impressive in the earnings release.
The apparent goal of partnering up or selling to an outside party is very much worth monitoring, though, as the busy marketplace operator could be sold at a premium.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Silicon Laboratories (SLAB) ve 2. čtvrtletí vykázal zisk 0,71 USD na akcii, nad odhadem 0,67 USD. Tržby 228,19 mil. USD ale odhad o 1,26 % minuly za čtvrtletí končící v červnu 2026.
Silicon Laboratories (SLAB - Free Report) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.97%. A quarter ago, it was expected that this chipmaker would post earnings of $0.49 per share when it actually produced earnings of $0.53, delivering a surprise of +8.16%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Silicon Labs, which belongs to the Zacks Semiconductor - Analog and Mixed industry, posted revenues of $228.19 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.26%. This compares to year-ago revenues of $192.85 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Silicon Labs shares have added about 67.1% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for Silicon Labs?While Silicon Labs has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Silicon Labs was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.83 on $242.19 million in revenues for the coming quarter and $2.75 on $931.39 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Semiconductor - Analog and Mixed is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Analog Devices (ADI - Free Report) , is yet to report results for the quarter ended July 2026. The results are expected to be released on August 19.
This semiconductor maker is expected to post quarterly earnings of $3.33 per share in its upcoming report, which represents a year-over-year change of +62.4%. The consensus EPS estimate for the quarter has been revised 1.8% higher over the last 30 days to the current level.
Analog Devices' revenues are expected to be $3.92 billion, up 36.3% from the year-ago quarter.
AGL Energy vykázala za rok končící 30. června pokles upraveného čistého zisku po zdanění na 631 milionů A$ z 640 milionů A$, pod odhadem trhu. Důvodem byly vyšší náklady na plyn a slabší velkoobchodní ceny elektřiny.
An AGL Energy logo is visible above their offices in Adelaide, Australia, September 18, 2025. REUTERS/Hollie Adams. Purchase Licensing Rights, opens new tab
CompaniesAug 12 (Reuters) - Australian power producer AGL Energy (AGL.AX), opens new tab posted lower annual underlying profit on Wednesday, missing analyst estimates, as higher gas supply costs and weaker wholesale electricity prices outweighed stronger retail electricity and gas margins.
The Melbourne-based utility posted an underlying net profit after tax of A$631 million ($445.55 million) for the year ended June 30, from A$640 million a year ago, opens new tab, missing Visible Alpha's consensus estimate of A$636.3 million.
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AGL, also Australia's largest corporate carbon emitter, said lower wholesale electricity prices weighed on earnings, as easing supply constraints and milder weather reduced market volatility.
"Gross margin across our gas portfolio decreased due to an increase in gas purchase costs, reflecting the gradual roll-off of lower-priced legacy gas supply contracts during the year," said AGL Managing Director and CEO Damien Nicks.
The energy company said it expects the underlying net profit after tax for 2027 to be between A$470 million and A$670 million, citing lower operating costs.
($1 = 1.4162 Australian dollars)
Reporting by Rajasik Mukherjee & Nichiket Sunil in Bengaluru; Editing by Diti Pujara
Our Standards: The Thomson Reuters Trust Principles., opens new tab
H&R Block (HRB - Free Report) came out with quarterly earnings of $2.38 per share, beating the Zacks Consensus Estimate of $2.23 per share. This compares to earnings of $2.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +6.73%. A quarter ago, it was expected that this tax preparer would post earnings of $5.69 per share when it actually produced earnings of $6.02, delivering a surprise of +5.8%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
H&R Block, which belongs to the Zacks Consumer Services - Miscellaneous industry, posted revenues of $1.14 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.48%. This compares to year-ago revenues of $1.11 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
H&R Block shares have added about 5.4% since the beginning of the year versus the S&P 500's gain of 13.3%.
What's Next for H&R Block?While H&R Block has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for H&R Block was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.28 on $199.51 million in revenues for the coming quarter and $5.65 on $4.01 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Services - Miscellaneous is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Academy Sports and Outdoors, Inc. (ASO - Free Report) , another stock in the broader Zacks Consumer Discretionary sector, has yet to report results for the quarter ended July 2026.
This company is expected to post quarterly earnings of $2.12 per share in its upcoming report, which represents a year-over-year change of +9.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Academy Sports and Outdoors, Inc.'s revenues are expected to be $1.66 billion, up 3.7% from the year-ago quarter.
