Track market-moving stories before they get noisy

Enterprise Products Partners carries one of the biggest yields in large-cap energy, but the dividend yield alone tells you almost nothing about whether that payout is safe. The number that actually matters is one most investors never check first.

Enterprise Products Partners (NYSE:EPD | EPD Price Prediction) pays one of the larger yields among large-cap energy names, so income investors usually start with the size of the check. A better first question is how much cash the business brings in for every dollar it pays out. That figure is the distribution coverage ratio, and Enterprise’s is unusually high.

Distribution Coverage Ratio: How Many Times the Payout Is Covered
Coverage compares distributable cash flow (DCF), which is the cash left after running the business and maintaining the assets, with the cash Enterprise sends to unitholders. A 1.0x ratio means every dollar earned goes out the door. Anything above that is a buffer. Revenue and earnings don’t show this. Enterprise’s revenue rose 60.8% year over year in Q2 2026, but much of that reflects commodity prices passing through its books. Coverage shows whether the payout is funded by the business itself or by borrowing and asset sales.

A 1.9x Cushion Sits Under Every Payment.
In Q2 2026, operational DCF reached a record $2.3B, up 21% from a year earlier. In management’s words, that “provided 1.9 times coverage of the partnership’s cash distribution.” Of that cash, $1.2B went to unitholders, and $1.1B stayed in-house to fund growth projects and buybacks.

The cash comes from volume fees. Pipeline volumes hit a record 14.7 MMBPD, up 8%, and marine terminal volumes rose 33% to a record 2.8 MMBPD. Fees tied to barrels moved hold up better through commodity price swings than profits that depend on the price of those barrels.

That buffer has funded steady increases. The quarterly distribution is now $0.56 per unit, up from $0.545 a year ago, and 2025 marked the 27th consecutive year of distribution growth. The $2.24 annualized payout works out to a yield of about 6.1% at the recent price of $36.76. Units bought before the October 30, 2026 ex-distribution date qualify for the November 13, 2026 payment.

K-1 Paperwork Comes With the Units
Enterprise is a partnership, so unitholders get a Schedule K-1 at tax time instead of a 1099. The K-1 reports “your share of income, deductions, credits, and tax preference items of the partnership,” and partners must report that share “whether or not they are actually distributed to you.” In practice, that means extra filing work, K-1s that are sometimes due late, and a tax picture that is more complicated than a typical dividend stock’s. A tax professional can help, especially if you hold units in a retirement account.

What Would Shrink the Cushion
The main risk is leverage combined with heavy spending. Total debt principal was about $34.2B as of Q1 2026, and the partnership has a $6.5B backlog of growth projects. If new LPG export capacity or the planned Permian gas plants start up late or bring in less volume than expected, DCF could grow more slowly while interest costs keep running. Also note that Q1’s $2.7B DCF included a roughly $600M one-time payment from the Bahia pipeline sale, which won’t repeat.

A bullish sign would be coverage holding above 1.7x as the new projects come online. Coverage moving toward 1.2x to 1.3x would suggest distribution growth may slow. Management has called 2026 a free cash flow turning point, with growth capex stepping down to $2.9B to $3.4B. That should leave more of the retained cash for buybacks under the $5.0B authorization.

Verdict
The 6% yield draws investors in, but the 1.9x coverage ratio shows Enterprise funds its payout from fee income, with nearly a dollar to spare for every dollar it pays out. For income investors sizing up what a mid six-figure balance can actually throw off each month, we outlined the full plan in a free income guide here.

Contact [email protected] for any questions or corrections.

It has been about a month since the last earnings report for AutoZone (AZO - Free Report) . Shares have added about 11% in that time frame, outperforming the S&P 500.

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

AutoZone Q4 Earnings Beat EstimatesAutoZone reported fourth-quarter fiscal 2026 earnings per share of $56.05, which increased 15.1% year over year and beat the Zacks Consensus Estimate of $54.54 by 2.8%. Gross margin expansion supported the profit increase.

Net sales rose 5.6% to $6.60 billion but missed the consensus mark of $6.69 billion by 1.4%. Total company same-store sales increased 1.5% on a constant-currency basis.

Same-Store Sales Show Mixed Regional TrendsDomestic same-store sales increased 1.6% in the 16-week quarter. International same-store sales advanced 10.7% on a reported basis, while constant-currency growth was 1.3%, reflecting the impact of currency movements.

Total company same-store sales rose 2.7% on a reported basis. Sales per average store increased to $830,000 from $823,000, while sales per average square foot remained at $122. Management said the selling environment was difficult during the first eight weeks, but sales strengthened over the final eight weeks.

Margin Gains Lift Quarterly ProfitabilityGross margin expanded 182 basis points year over year to 53.3%. The improvement included a 145-basis-point benefit from tariff refunds and a 105-basis-point favorable net non-cash LIFO impact, partly offset by a higher commercial sales mix. The quarter included a $15 million LIFO charge versus an $80 million charge a year earlier.

Operating expenses increased to 33.4% of sales from 32.4%, with deleverage primarily tied to growth initiatives. Operating profit rose 10.1% to $1.32 billion, while net income increased 11.3% to $931.59 million. Operating margin improved 81 basis points to 20%.

Commercial Business Maintains Solid MomentumDomestic commercial sales reached $1.91 billion, up 8.6% from the year-ago quarter. Average weekly sales per commercial program increased 2.7% to $18,700, showing continued growth in the professional customer channel.

The company ended the quarter with 6,443 domestic commercial programs, up 5.7% year over year. Commercial programs were available in 94% of domestic stores, supporting AutoZone’s push to expand service to repair shops and other professional customers.

Store Openings Expand Its Global FootprintAutoZone opened 175 stores during the quarter, including 97 in the United States, 68 in Mexico and 10 in Brazil. The global store count reached 8,031 at quarter-end compared with 7,657 a year earlier.

The domestic network ended with 6,863 stores, while Mexico and Brazil had 1,001 and 167 stores, respectively. Total company square footage reached 54.66 million square feet versus 51.82 million a year earlier. The company also opened 16 new Mega Hub stores in the United States.

Balance Sheet Reflects Growth InvestmentMerchandise inventories increased 10.1% year over year to $7.74 billion, primarily due to growth initiatives. Inventory per store rose 5% to $963,000, while net inventory per store was negative $107,000 compared with negative $131,000 a year earlier. Inventory turns eased to 1.3 times from 1.4 times.

Cash and cash equivalents stood at $326.12 million at fiscal year-end, while total debt was $9.08 billion. Fourth-quarter cash flow from operations totaled $1.18 billion, and capital spending was $498.77 million. Adjusted debt to EBITDAR remained at 2.5 times, while working capital was negative $1 billion.

Capital Returns Stay SubstantialAutoZone repurchased 223,000 shares during the quarter for $697.50 million at an average price of $3,125 per share. Diluted weighted average shares outstanding declined 3.3% year over year to 16.6 million. The company had $1.61 billion remaining under its share repurchase authorization at fiscal year-end.

Management expects sales in the United States, Mexico and Brazil to accelerate in fiscal 2027. The company plans to keep improving its inventory offering, delivery speed and customer service while pursuing domestic commercial, do-it-yourself and international growth.

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

VGM ScoresCurrently, AutoZone has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.

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

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, AutoZone has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Arbitrum One just had its busiest day in three months, at least by one measure. Daily active addresses on the Ethereum layer-2 network climbed to 571,767 before activity eased after October 22, The Defiant reported.

The numbers behind the spike
Data from growthepie, updated October 22, 2026, puts daily active addresses at 571.8K. That marks a 90-day high and a 408.2% week-over-week jump.

Transactions told a calmer story. They reached roughly 1.7 million, up 25.7% from the prior week.

That volume was still enough to rank Arbitrum One fifth among the chains growthepie tracks.

Revenue moved in the opposite direction. Chain revenue came in at $19.3K, down 2.4% week-over-week.

DefiLlama’s numbers broadly agree on the headcount. The analytics platform reported 570,079 active addresses as of October 22, 2026, alongside total value locked (TVL) of $1.45B.

Where the activity came from
No single trigger stands out. The research points to broadly heavier network usage rather than one identifiable catalyst.

The biggest contributors to transaction volume were plain native ETH transfers and stablecoin transactions involving USDC.

Stablecoin figures depend on which dashboard you open. Growthepie showed stablecoin supply at $4.39B, down 5.8% week-over-week, while DefiLlama put the stablecoin market cap at around $3.5B.

Context: a choppy year for Arbitrum users
Arbitrum One is one of the leading optimistic rollups on Ethereum. It processes transactions off the main chain and settles them back to Ethereum, which keeps fees lower for users.

Its user counts have swung widely in 2026. Earlier figures from other dashboards showed weekly active addresses ranging from 400K to 1.7M, depending on the exact window measured.

The spike also followed a stretch of lower activity. That base effect helps explain why the week-over-week percentage looks so large: growth from a quiet week always photographs well.

What this means
For investors and builders, the most telling detail is the mismatch between addresses and transactions. When users surge but transactions per user fall, the new arrivals are likely doing very little once they land.

A decline in stablecoin supply on growthepie during a week of rising addresses hints that capital and users were not moving in lockstep.

Arbitrum ranked fifth by transactions among tracked chains, which places it in a crowded field of Ethereum scaling networks fighting for the same users and liquidity.

Three metrics are worth tracking from here: daily active addresses relative to the 571,767 peak, transaction growth against that 1.7 million mark, and whether chain revenue climbs back above $19.3K.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

A US gov wallet moved $1B in BTC. Arkham's Miguel Morel breaks down transaction trails, potential sales vs. custody transfers, and reserve policy factors.

A US government-linked wallet just moved about $1 billion in Bitcoin from the Bitfinex hack, and the market wants to know if a sale is coming. Arkham Intelligence CEO Miguel Morel explains what the transaction trail shows, what it can’t show, and why it’s still unclear whether the coins are being sold or moved to a new custodian. He also breaks down how disposal orders and the Strategic Bitcoin Reserve factor in.

Chapters:
00:00 US Government Moves $1B in Bitfinex Hack Bitcoin
00:47 Sale or Custody Change? What the Government Might Be Doing
01:52 How Arkham Labels Government Wallets
03:30 Tracking Bitcoin Treasury Companies Before SEC Filings
05:18 Why Exchanges Like Coinbase Can Be a Black Box
06:26 Segregated Wallets and Tracking MicroStrategy
07:52 How AI Agents Are Using Arkham Today
09:42 Is There Any Privacy Left On-Chain?
12:02 Does Anonymity Help or Hurt Institutional Adoption?
14:12 How Investigators Trace Stolen Funds From Hacks

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Patrick Green

Patrick Green is an Assistant Producer and Channel Manager on the multimedia team at Bitcoin Magazine, focusing on production, content distribution, and channel strategy across the network.

British Pound Technical Outlook: GBP/USD Short-Term Trade Levels
GBP/USD has rallied more than 2% from the October low, reaching its highest levels in over five weeks.
A bullish outside-week reversal fueled a break above the monthly opening range, strengthening the near-term recovery.
The advance is now confronting a major technical resistance confluence, with the 200-day moving average posing the next significant hurdle.
Failure to clear resistance would leave Sterling vulnerable, with the October lows remaining critical to the broader outlook.
U.K. and U.S. PMI releases headline near-term event risk ahead of next week's highly anticipated Fed decision.
Resistance 1.3406, ~1.3433, 1.3465/74 (key) - Support 1.3353, 1.3302 (key), 1.3245
Sterling has regained its footing following last month's sharp decline, with the latest advance marking a meaningful shift in the near-term technical picture. GBP/USD has rallied in five of the past six sessions, with bulls now confronting a pivotal resistance hurdle that could determine whether the recovery has further to run. Attention turns to Friday's preliminary U.K. and U.S. PMI releases before next week's Federal Reserve decision, with the reaction in Treasury yields and the dollar likely to play an important role in shaping GBP/USD direction into month-end. Battle lines drawn on the GBP/USD short-term technical charts.

Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Sterling technical setup and more. Join live on Monday’s at 8:30am EST.

British Pound Price Chart – GBP/USD Daily

Chart Prepared by Michael Boutros, Sr. Technical Strategist; GBP/USD on TradingView

Technical Outlook: In last month’s British Pound Short-term Outlook we noted that GBP/USD had, “declined in four of the past five weeks, with the latest selloff driving Sterling below the 200-day moving average for the first time since July... From a trading standpoint, rallies would need to be limited to 1.3408 IF price is heading lower on this stretch with a close below 1.3302 needed to fuel the next major leg of the decline.” Sterling broke lower the following day, extending its decline to nearly 3.2% from the September high before rebounding last week from key support at 1.3140—a level defined by the May and August 2025 lows and the June 2026 low.

An outside weekly reversal last week has broken through the monthly opening range highs with the advance extended more than 2.1% off the yearly low. The rally is now testing resistance for a third consecutive day at the 50% retracement of the August decline near 1.3406 and the focus is on possible inflection off this level into the close of the week.

British Pound Price Chart – GBP/USD 240min

Chart Prepared by Michael Boutros, Sr. Technical Strategist; GBP/USD on TradingView

Notes: A closer look at Sterling price action shows GBP/USD trading within the confines of an ascending pitchfork extending off the October lows. Initial support rests at the 23.6% retracement of the monthly advance at 1.3353 which converges on the median line today. Subsequent support rests at the May low at 1.3302 with a break / daily close below the 61.8% retracement at 1.3245 needed to put the bears back in control.

The 200-day moving average now converges on the 75% parallel near ~1.3433 and a break / close above this slope is needed to fuel the next leg of the rally towards a key pivot zone at the February low-day close (LDC) and the 2026 yearly open at 1.3465/73- look for a larger reaction there IF reached. Subsequent resistance is eyed at the July high at 1.3558.

   
       

Bottom line: GBP/USD has rebounded sharply off major technical support with the rally now extending to the highest levels in more than five-weeks. From a trading standpoint, losses should be limited to 1.3353 IF price is heading higher on this stretch with a close above the 200-day moving average needed to fuel the next leg of the uptrend.

GBP/USD event risk into the weekly close centers on Friday’s preliminary U.K. and U.S. PMIs, but attention will increasingly shift toward next Wednesday’s Federal Reserve decision. A November Bank of England hike is already largely priced following this week’s stronger employment and inflation data, leaving limited room for further sterling gains from BoE expectations alone. The U.K. Budget is also due next Wednesday, but the Fed will likely remain the primary catalyst, with markets focused on whether Kevin Warsh signals that persistent inflation warrants further tightening or endorses a pause. Stay nimble into the release and watch the weekly closes for guidance. Review my latest British Pound Weekly Forecast for a closer look at the longer-term GBP/USD technical trade levels.

Key GBP/USD Economic Data Releases

Active Short-term Technical Charts
Euro Short-term Outlook: EUR/USD Rebound Faces Critical Test After Trend Break
Gold Price Short-term Outlook: XAU/USD Holds Critical Support as Breakout Nears
Canadian Dollar Short-term Outlook: USD/CAD Five-Week Rally Hits a Wall at Major Resistance
Japanese Yen Short-term Outlook: USD/JPY Breakout Risk Builds Below 200-Day Average
Australian Dollar Short-term Outlook: AUD/USD Rebound Challenges September Downtrend
US Dollar Short-term Outlook: USD Four-Week Rally Stalls Below Key Resistance
Swiss Franc Short-term Outlook: USD/CHF Rebound Tests Broken Uptrend
--- Written by Michael Boutros, Senior Technical Strategist

Follow Michael on X @MBForex

Lost Money on D-Wave Quantum, Inc. Stock? Glancy Prongay Wolke & Rotter LLP Investigates Possible Securities Fraud After 9.51% Share Price Drop
Investors who lost money on D-Wave Quantum, Inc. ("D-Wave" or the "Company") stock may have claims to recover their losses. Glancy Prongay Wolke & Rotter LLP ("Glancy") today announced a securities fraud investigation on behalf of D-Wave Quantum, Inc. (NASDAQ: QBTS) investors into whether the Company may have violated the federal securities laws. The investigation follows the August 25, 2026 disclosure regarding D-Wave Quantum, Inc.

Investors who lost money on D-Wave Quantum, Inc. securities can submit their D-Wave Quantum, Inc. loss information to learn about potentially pursuing claims to recover their losses.

Key facts in the D-Wave Quantum, Inc. investigation

Disclosure date: August 25, 2026Stock price decline: $1.84 per share, or 9.51%Closing price after the decline: $17.51 on August 26, 2026What happened?

On August 6, 2026, D-Wave reported its second quarter of 2026 financial results. Among other things, D-Wave issues revenue of only $3.08 million, compared to $3.1 million for the same period in 2025.

On this news, D-Wave's stock price fell $1.98 per share, or 9.28%, to close at $19.41 per share on August 6, 2026, thereby injuring investors.

Then, on August 25, 2026, D-Wave issued a press release “announc[ing] that John Markovich is retiring and thus resigning from his position as Chief Financial Officer effective September 2, 2026.”

On this news, D-Waves stock price fell $1.84 per share, or 9.51%, to close at $17.51 per share on August 26, 2026, thereby further injuring investors

"D-Wave Quantum, Inc. stock fell 9.51% following the August 25, 2026 disclosure that D-Wave reported second-quarter 2026 revenue of only $3.08 million, compared to $3.1 million for the same period in 2025. Investors who lost money deserve to know whether they were given the full picture, and our investigation will examine that question," said Charles H. Linehan, Partner at Glancy Prongay Wolke & Rotter LLP.

What's the next step?

Glancy is investigating potential claims on behalf of D-Wave Quantum, Inc. investors. Investors who lost money can contact Glancy about the D-Wave Quantum, Inc. investigation, email [email protected], or call 310-201-9150 (toll-free: 888-773-9224).

Frequently Asked Questions

Who is eligible? Investors who bought D-Wave Quantum, Inc. securities and lost money may have claims, and can contact Glancy to learn whether they are affected by the D-Wave Quantum, Inc. investigation.

What is a securities fraud investigation? In the D-Wave Quantum, Inc. investigation, Glancy is reviewing whether the Company or its executives may have made false or misleading statements to investors in violation of the federal securities laws.

Has a lawsuit been filed? This release announces Glancy's investigation, not a lawsuit. If a securities class action is later filed against D-Wave Quantum, Inc., investors may have the opportunity to seek appointment as lead plaintiff.

Does it cost anything to contact Glancy or participate in this investigation? Glancy represents D-Wave Quantum, Inc. investors on a contingency fee basis, which means investors pay no attorneys' fees unless there is a recovery. Any fees are subject to court approval and are paid from the recovery.

Why work with Glancy on the D-Wave Quantum, Inc. investigation? Glancy Prongay Wolke & Rotter LLP is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Contact Glancy about the D-Wave Quantum, Inc. investigation. Prior results do not guarantee a similar outcome.

Whistleblower notice

Persons with non-public information about D-Wave Quantum, Inc. should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information that leads to a successful SEC enforcement action may receive awards of 10 to 30 percent of the sanctions collected, when those sanctions exceed $1 million. For more information, contact Charles H. Linehan at 310-201-9150 or 888-773-9224, or email [email protected].

About Glancy Prongay Wolke & Rotter LLP

Glancy was named one of Law360's Securities Groups of the Year and ranked second in total investor recoveries by ISS Securities Class Action Services in 2025.

Glancy's successes have been widely covered by leading news and industry publications, including The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.

Prior results do not guarantee a similar outcome.

Related links

D-Wave Quantum, Inc. investigation page, Glancy Prongay Wolke & Rotter LLPD-Wave Press ReleaseD-Wave Quantum, Inc. SEC filings index, EDGARSEC Whistleblower ProgramGlancy Prongay Wolke & Rotter LLPFollow Glancy on LinkedIn, X, or Facebook.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261022868758/en/

Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

Since going public in June, Space Exploration Technologies' (SPCX -7.54%) stock has been volatile.

Investors are grappling with the company's $2 trillion valuation and its ambitious agenda, ranging from providing most of the planet's wireless internet one day to launching data centers into space to building a massive Terafab facility.

There are lots of unknowns, but here's what an $8,000 investment in SpaceX could be worth in 2030.

Image source: The Motley Fool.

Analysts see massive growth ahead Stocks are typically valued on multiples of their earnings, revenue, and earnings before interest, taxes, depreciation, and amortization (EBITDA). Companies growing these metrics faster will earn higher multiples. Part of the reason SpaceX has received a $2 trillion valuation is that investors believe the company will grow quickly, and to some extent it already has.

For instance, Wall Street analysts project revenue to more than double to over $45.6 billion by year-end, while adjusted EBITDA is expected to also more than double to over $23 billion, according to S&P Global Market Intelligence.

Assuming that happens, SpaceX's current market cap values the company at 44 times 2026 forward revenue and 87 times forward EBITDA. If we look at analyst estimates in 2030, revenue is projected to absolutely soar to over $492.5 billion, while adjusted EBITDA would surge to over $357 billion.

The 2030 revenue projection is the average among 20 analysts, with a pretty large disparity in estimates. The low estimate is roughly $219 billion, while the high estimate is over $708 billion.

There are also 20 estimates for adjusted EBITDA, ranging from roughly $99 billion to $576.5 billion. If you were to apply the same multiples SpaceX trades at today to these forward estimates, the company would be valued at $21.6 trillion based on revenue and nearly $31 trillion based on adjusted EBITDA.

Typically, as companies get much bigger and their markets become more saturated, their multiples decline. However, if SpaceX grows like this, where revenue and adjusted EBITDA are growing by 10- and 15-fold, who knows what the stock's multiples would be?

If we assume multiples get cut in half, the stock would be valued anywhere from $10.8 trillion on revenue to $15.5 trillion on adjusted EBITDA. If we go with this more conservative approach right now, an $8,000 investment in SpaceX would be worth between $43,200 and $62,000, generating spectacular returns.

A valuation exercise is largely theoretical Assigning a multiple to a stock is done on an imperfect basis, and it's even more difficult when we are largely in uncharted territory. SpaceX is an ultra-fast-growing stock already garnering a multitrillion-dollar valuation. The market is naturally going to be skeptical.

But what's even more important is examining the underlying assumptions that drive revenue and EBITDA to see whether they make sense.

We don't know exactly what's behind each analyst's assumptions, but if they are giving SpaceX credit for launching data centers into space or completing activities with SpaceX's super-heavy-lift, fully reusable rocket, Starship, there is a lot that could go wrong.

Starship is still in testing, and things like data centers in space are still by no means a guarantee, as are many of SpaceX's ambitions. Just looking at this year alone, analysts think revenue will jump from $7.8 billion in the second quarter to over $20 billion by the fourth quarter.

Also, after each quarter, analyst projections can change significantly as they incorporate new information into their models.

Additionally, for SpaceX to achieve everything it wants to, it will incur significant capital expenditures, likely requiring the company to take on substantial debt and issue equity, which would dilute existing shareholders.

On average, analysts project that SpaceX will have close to $1 trillion in capex, including the full years of 2026 through 2030, and generate tens of billions of dollars in negative adjusted free cash flow.

It's hard to know where all this funding might come from, or whether it's even possible.

The risk factor In theory, an investment in SpaceX could generate phenomenal shareholder gains. But it depends on many assumptions that may not materialize and on goals that may not be met, so I still view the stock as a very risky investment right now.

Greg Abel became the CEO of Berkshire Hathaway (BRKA +1.50%) (BRKB +1.88%) at the beginning of the year after the company's longtime leader, Warren Buffett, stepped down. Some investors may worry that Abel will make significant changes to the business.

But so far, the evidence suggests otherwise. Besides closing some positions formerly managed by Todd Combs, an investment lieutenant of Buffett's who also left the company recently, Abel hasn't made that many major changes.

He has also explicitly said that he intends to maintain the company culture intact, while keeping major stock holdings accumulated during the Buffett era. One company Abel thinks could compound over the long run is Apple (AAPL +0.71%), which became Berkshire's top holding years ago during Buffett's tenure and remains so.

Apple accounts for about 22% of the conglomerate's public equity portfolio, and it recently reached a major milestone, closing above a $5 trillion market cap for the first time, and only becoming the second company to do so. With all that said, should retail investors also be bullish on Apple's long-term prospects?

Warren Buffett. Image source: The Motley Fool.

The road to $5 trillionThings haven't been easy for Apple over the past few years. The company has faced steep tariffs and legal headwinds, among other challenges. Apple has performed fairly well despite all that. How did the company manage that?

The iPhone 17, launched in 2025, has been an important growth driver over the past 12 months. This newest iPhone features various artificial intelligence (AI) capabilities. It has driven a solid renewal cycle, helping Apple generate some of its strongest quarters in years in terms of sales growth.

During the third quarter of its fiscal year 2026, which ended on June 27, Apple's revenue grew 16% year over year to $109.4 billion. Apple's revenue growth has been in double digits for several quarters in a row now, after spending years below that.

AAPL Revenue (Quarterly YoY Growth) data by YCharts

Meanwhile, the company's earnings per share (EPS) of $2.02 was up 29% year over year. A $0.11 tariff refund positively impacted Apple's EPS, but even without that, it would have grown by almost 22% year over year, a solid performance for a company of this size. Apple's iPhone segment did much of the heavy lifting.

It recorded sales of $54.3 billion, up 21.6% compared to the year-ago period. In fact, Apple has been struggling to keep up with iPhone demand, with the company's former CEO, Tim Cook -- who stepped down at the end of August -- saying demand has exceeded management's expectations.

Supply-constraint problems aside, this highlights that Apple's iPhone remains highly popular and can still drive strong revenue growth. It has been Apple's most important asset on its road to reaching the $5 trillion mark.

AAPL Apple$346.45+$2.46 (+0.71%)

NASDAQ · As of 1:35 PM ET 10/22/26

What's next for Apple?Apple's newest iPhone lineup includes the 18 and the company's first attempt at a foldable smartphone, the iPhone Duo. The company also continues to pursue the same AI strategy. It seeks to integrate the technology into its hardware to enhance capabilities in ways that will help attract new users and drive strong renewal cycles among existing ones.

Apple showed this strategy can be successful with the iPhone 17, and the company might only be getting started. The iPhone Duo looks particularly promising, since foldable devices launched by some of the company's competitors have been a hit. So, expect Apple to continue expanding its installed base, which has surpassed 2.5 billion active devices.

Apple's vast ecosystem will also continue to be a source of high-margin, recurring revenue, thanks to the company's subscriptions. Further, Apple generates significant free cash flow, which can allow the company to tap into new opportunities and quickly ramp them up thanks to its vast ecosystem.

It has done so in the past. Devices such as AirPods and Apple Watches quickly grew in popularity, especially because they can connect to Apple's existing devices in ways products outside the company's ecosystem can't. That's another way in which Apple's ecosystem is a strength.

True, the company's challenges have not disappeared, but it has also proven it can navigate them. So, Apple's long-term prospects remain highly attractive. No wonder Abel and Buffett are both bullish on the stock.

The Tradr 2X Short META Daily ETF (BATS:METQ) is drawing attention among the day’s top-performing ETFs as Meta Platforms Inc. (NASDAQ:META) shares face pressure following the social media giant’s latest earnings report and fresh legal troubles.

• Meta Platforms stock is taking a hit today. Why is META stock falling?

Meta shares fell more than 6% on Thursday after investors weighed stronger-than-expected revenue against rising artificial intelligence spending, a multibillion-dollar legal charge and a new $25 billion penalty in a data-privacy case. The stock had initially gained following the company’s third-quarter results. Reuters reported that the market was reassessing the cost of Meta’s AI ambitions despite progress in its business.

Why Meta Stock Is Under PressureMeta reported third-quarter revenue of $64.60 billion, up 26% year over year and ahead of analysts’ expectations. It also forecast fourth-quarter revenue of $73 billion to $76 billion, above the consensus estimate of $73.57 billion.

However, profitability and cash generation presented a more complicated picture.

The company recorded a $9.89 billion legal charge tied to its settlement with 52 state attorneys general over teen mental health litigation. Operating income fell 37% to $12.99 billion, while free cash flow turned negative at $2.12 billion.

Meta also raised its full-year capital expenditure outlook to $135 billion to $145 billion as it continues investing aggressively in AI infrastructure. Investors must weigh whether future AI-driven advertising growth and new products will generate sufficient returns to justify the spending.

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Adding to the legal overhang, a New Mexico judge ordered Meta to pay $25 billion in a separate data-privacy case linked to allegations that the company misled users about its privacy practices.

How METQ Benefits From a Meta Sell-OffMETQ is designed to deliver 200% of the inverse of Meta stock’s daily performance, before fees and expenses. In practical terms, if META falls 1% over a trading day, METQ targets a gain of approximately 2%. If META rises 1%, the fund targets a loss of approximately 2%.

That makes the ETF a potential instrument for traders seeking short-term bearish exposure to Meta without directly shorting its shares. The fund resets its exposure daily, meaning its returns over multiple sessions can differ substantially from twice the inverse of META’s cumulative return.

For example, a 5% decline in META would imply a roughly 10% gain for METQ over that same day, assuming the fund meets its daily objective. Actual returns can differ because of expenses, market movements and tracking effects.

Price AnalysisMETQ ETF shares were up 13.72% at $16.98 at the time of publication on Thursday, according to Benzinga Pro data. This notable increase indicates a strong bullish sentiment among traders, likely driven by recent volatility in the underlying Meta stock, which has been subject to significant market fluctuations.

The current price is positioned 6% below the key technical levels, suggesting that there is potential resistance around the $18 mark. This level has historically served as a psychological barrier, and breaking above it could signal a shift in momentum for METQ.

Trading volume on Thursday reached 1 million shares, reflecting heightened interest and activity in the ETF.

What Traders Should Watch NextThe immediate question is whether Meta’s post-earnings weakness persists or whether investors refocus on accelerating advertising revenue and the company’s AI initiatives, including its Muse products.

METQ’s performance will depend primarily on Meta’s daily share-price moves, rather than on whether the company’s long-term business outlook is improving or deteriorating. A rebound in Meta shares could quickly reverse gains in the inverse ETF.

The fund is therefore best understood as a high-risk, short-term trading vehicle rather than a straightforward way to express a long-term view on Meta. Its daily leverage can amplify losses as well as gains, and volatility can erode returns over longer holding periods.

Read Next

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Key Takeaways Uber's $2.3B ezCater acquisition aims to expand Uber Eats into workplace catering & large-order delivery.Uber is expanding its robotaxi footprint through partnerships with Wayve, WeRide & Zoox in key markets.Uber's valuation and expansion efforts aid its outlook, but debt & weak stock performance weigh.
Although Uber Technologies’ (UBER - Free Report) core business is ride-hailing, it has steadily expanded into areas like food delivery and freight. Diversification is crucial for large companies to manage risk, and Uber has been particularly effective in doing so through acquisitions, geographic expansion, new product offerings and innovation.

Uber’s efforts to grow internationally are noteworthy, as they provide the added advantage of geographic diversification. Through strategic investments, Uber continues to broaden services and strengthen its platform. Given this expansion-oriented backdrop, the question that naturally arises is whether investors should buy UBER stock at current prices. Let us dig deeper to find out.

A Sneak Peek Into Uber’s Recent Expansion MovesEarlier this month, Uber agreed to acquire ezCater, a major U.S. catering and workplace-meals platform, in an all-cash transaction valued at $2.3 billion. These acquisition is aimed at expanding Uber Eats into the large-order catering market while strengthening Uber for Business. The transaction is expected to close in the coming months, subject to regulatory approvals and customary closing conditions.

The combination will bring together ezCater’s catering and business-to-business expertise, Uber Eats’ broad consumer and restaurant network, and Uber for Business’s corporate relationships. The expanded platform is expected to provide restaurants with access to more high-value orders and new customers, while making it easier for businesses and consumers to arrange meals for workplaces, meetings, events and other group occasions.

The transaction may also create additional earning opportunities for Uber Eats couriers by increasing the volume of larger catering deliveries. Uber expects the business to be margin accretive. The acquisition could meaningfully strengthen Uber’s competitive position against DoorDash (DASH - Free Report) in the U.S. food-delivery market by giving it a stronger foothold in workplace catering and large group orders, a segment the latter is also actively targeting. DASH for Business launched expanded workplace catering offerings in April 2026, including tray-style catering and team-meal solutions, after large team orders grew 30% faster than regular orders.

DoorDash and Uber Eats are the two largest food and grocery delivery platforms. Earlier this month, Uberannounced a partnership with Sur La Table, a specialty kitchenware retailer, to offer customers convenient access to premium cookware, kitchen appliances and culinary essentials through the Uber Eats marketplace. The collaboration will extend across all Sur La Table locations nationwide, enabling customers to place orders for on-demand or scheduled delivery.

Through this partnership, Uber Eats customers can purchase a wide selection of kitchen products, ranging from cookware and baking equipment to everyday utensils and hosting essentials. The assortment includes products from established brands such as Le Creuset and All-Clad. Eligible orders can be delivered in as little as 25 minutes, providing a convenient option for customers seeking last-minute cooking supplies, kitchen appliances or gifts.

Uber's Partnership-Driven AV Expansion Looks GoodUber is seeking to establish a strong position in the robotaxi market through strategic collaborations. This partnership-led approach allows the company to avoid the substantial research and development expenses involved in building autonomous-driving technology in-house. Uber divested its self-driving division in 2020. The company remains committed to strengthening its position as a leading ride-hailing super app.

Consistent with this strategy, Uber has recently secured several partnerships to expand its autonomous mobility footprint. Last month, Uber and British AI company Wayve launched supervised autonomous rides in London, marking the first availability of such services in the United Kingdom. Moreover, Uber, WeRide (WRD - Free Report) and AVOMO secured Spain's first national permit for Level 4 autonomous passenger vehicles. The Madrid rollout will start with 20 WeRide-equipped vehicles, with commercial service targeted by the end of 2026. The approval represents WeRide’s ninth autonomous-driving permit globally and strengthens Madrid’s role as a gateway for its broader European expansion. Madrid is one of Europe’s largest urban mobility markets.

Earlier this year, Uber also formed a strategic alliance with Amazon (AMZN - Free Report) subsidiary Zoox to introduce the purpose-built robotaxis on its platform. Unlike many autonomous vehicles being developed by modifying conventional passenger cars, Zoox's robotaxis are designed specifically for ride-hailing operations, with an emphasis on passenger comfort and social interaction. Uber and Zoox expect to make these autonomous rides available in Los Angeles next year.

Uber's established leadership in the ride-hailing market provides an additional competitive advantage in autonomous mobility. Its extensive customer and driver network positions the company to rapidly scale robotaxi services as autonomous-driving technology advances. Moreover, Uber's platform is designed to accommodate autonomous vehicles from multiple partners, offering riders greater flexibility and a wider range of transportation choices.

Uber’s Key MetricsDespite Uber’s recent expansion-oriented moves, shares have declined in high single digits (% -wise) over the past six months, underperforming the Zacks Internet-Services industry over the same time frame.

6-Month Price ComparisonImage Source: Zacks Investment Research

From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.12X. UBER is inexpensive compared with its industry.

Image Source: Zacks Investment Research

See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.

Image Source: Zacks Investment Research

How to Play UBER Stock Currently?While Uber’s weak stock performance, high debt load, labor unrest and geopolitical woes present near-term challenges, the long-term outlook for the ride-hailing giant remains far from discouraging.

The company’s strategic diversification, AV focus and shareholder-focused initiatives continue to serve as key strengths. With a market capitalization of $138.12 billion, Uber remains well positioned to navigate economic uncertainties. Uber’s ongoing commitment to diversification — through acquisitions, geographic expansion and innovative product offerings — has helped reduce risks and reinforce its competitive standing.

Overall, Uber’s scale, strategic investments and diversification efforts provide a strong foundation for sustained long-term growth. Despite the recent unfavorable price performance, maintaining a position in this Zacks Rank #3 (Hold) stock appears to be a sensible approach for now, while potential investors may prefer to wait for a more attractive entry point.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.   

Amazon's cloud business is accelerating at its fastest pace in 18 quarters, but the company just burned through billions in free cash flow. Whether that spending fuels massive gains or derails a monthly investment plan depends on a few key…

If you put $1,000 a month into Amazon (NASDAQ:AMZN | AMZN Price Prediction) starting with today’s price of $250, you would contribute $60,000 over five years.

Amazon deserves a forward look because its cloud business is speeding up again. AWS revenue grew 37% YoY last quarter, its fastest in 18 quarters, as demand for AI infrastructure rose.

What $1,000 a Month Could Grow to by 2031
Under the base case, $1,000 a month could be worth about $91,715.41 by 2031, a total return of 52.9% on the $60,000 you put in. It amounts to a gain of about $31,715.

The estimate assumes a five-year base-case target of $547.86 per share by October 17, 2031. For a share bought today, that would mean making 119.15%, or 16.99% a year.

The monthly plan returns less than a single share bought today because each later deposit has less time to grow. Your final contributions are invested for only a month or two. The dollar figures assume you invest at the start of each month and that the stock grows steadily at each scenario’s annualized rate.

Bull, Base and Bear Results for Your Monthly Plan

Scenario
5-Year Target Price
Share Total Return
Annualized Return
Value of $1,000/Month
Return on $60,000 Invested

Bull
$651.48
160.59%
21.11%
$101,398.77
69%

Base
$547.86
119.15%
16.99%
$91,715.41
52.9%

Bear
$360.38
44.15%
7.59%
$72,664.57
21.1%

Its confidence score is 0.7, which it rates as high. Wall Street is lopsided too. There are 16 Strong Buy ratings, 43 buy ratings, 2 hold ratings and 0 sell ratings.

The consensus price target is $331.46. Over a shorter window, the model’s one-year base target of $329.06 means 31.62% upside.

Three Growth Engines Behind the Target
AWS Is Accelerating on AI Demand
AWS now runs at a $169 billion annualized revenue rate, and its backlog has reached $496 billion. Amazon’s AI business and its chip business each exceeded a $25B annualized run rate with triple-digit growth (the power, cooling, and networking suppliers feeding that expansion are the subject of a free report on seven AI infrastructure names that aren’t chipmakers).

CEO Andy Jassy said on the earnings call that AWS could “very possibly be a trillion dollar annual revenue business for us in time.”

Advertising Keeps Compounding
Ad revenue rose 26% year-over-year to $19.8 billion. Ad slots for Thursday Night Football, the NBA and NASCAR “all sold out.” Advertising has high margins, so this growth adds to profits without needing the heavy spending that AWS requires.

Earnings Estimates Are Moving Higher
The average analyst estimate for 2026 EPS is $12.8977, up from $8.6938 90 days ago. Over the past 30 days, analysts made 4 up revisions and 0 down ones.

A one-time gain ballooned that 2026 number. Q2 GAAP EPS of $5.75 included a $53.4B pre-tax gain tied to Amazon’s Anthropic investment. That helps explain why the 2027 estimate is lower, at $10.5435.

Risks That Could Shrink Your Ending Balance
Spending is the biggest risk. Amazon plans about $200B of capital spending in 2026, and trailing 12-month free cash flow turned negative at -$7.6B. Jassy said the company will “encounter free cash flow headwinds until these data centers come online to be monetized.” If AI demand cools before that capacity pays off, the upside thesis falls apart quickly.

Management also pointed to tariffs, currency swings, memory chip supply and recession risk. Valuation matters as well: the stock trades at a P/E of 35 with a beta of 1.456, so it tends to swing more than the market.

Shares fell 4.74% in the past week alone. Over the last five years they making 46.67%, well below the projected pace. Even the bear case assumes a gain, and a real downturn could leave your plan below the $60,000 you put in.

Monthly investing does help with swings like these. When the price falls, each $1,000 buys more shares.

Where Your $60,000 Could Land
In all three scenarios, $1,000 a month in Amazon ends somewhere between $72,664.57 and $101,398.77 by 2031, with the base case at $91,715.41.

Watch AWS growth and free cash flow in each earnings report. Those two numbers will show which scenario is playing out. It is a projection, not investment advice, and no outcome is guaranteed.

Contact [email protected] for any questions or corrections.

Nvidia NVDA shares fell more than 4% on Thursday as chip stocks came under renewed pressure, with investors growing increasingly concerned about the financing required to sustain the artificial intelligence boom.

The selloff extended across the technology sector, with the Nasdaq Composite down 2.5%, the S&P 500 falling 1.4% and the Dow Jones Industrial Average losing around 0.2% at around 1:10 PM EST.

The Philadelphia Semiconductor Index tumbled over 6%, reflecting mounting unease over the costs, capacity constraints and potential returns associated with AI investments.

The weakness came as a sharp rise in oil prices added another source of uncertainty. Brent crude climbed nearly 3% to above $112 a barrel, while West Texas Intermediate advanced around 2% to more than $99.

Fresh Houthi attacks in Saudi Arabia and uncertainty surrounding the possibility of renewed US and Israeli strikes against Iran heightened concerns about energy supplies and inflation, further putting equity markets under pressure.

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A sharp selloff makes NVDA a compelling momentum buy for AI chip demand.

51% of retail investor accounts lose money when trading CFDs with this provider.

Despite the recent weakness, Nvidia CEO Jensen Huang struck an optimistic tone on demand for neocloud providers, which supply cloud infrastructure to AI companies.

He argued that the industry's challenge is increasingly about securing the financing needed to expand capacity rather than finding customers.

“If you look at the fundamentals, the demand for the neoclouds is off the charts,” Nvidia CEO Jensen Huang told CNBC, referring to companies such as Coreweave and Nscale, which offer cloud-based storage to AI companies.

“What is missing in the middle is the working capital to fuel that growth… because there’s just so much demand across so many sectors of AI, there’s a scarcity of capital."

“The demand for capital is much greater than the availability of capital. That’s going to get solved.”

Huang's comments come as investors scrutinise the substantial funding required to expand AI computing infrastructure.

While demand for chips and cloud capacity remains strong, markets are increasingly focused on whether companies can finance their expansion without taking on excessive risks or relying on circular investment arrangements.

Questions about interconnected investments across the AI supply chain have added to the nervousness. According to Korean media, Nvidia and Tesla are investing a combined 3.7 trillion won, or approximately $2.8 billion, in Samsung Electro-Mechanics to establish dedicated production facilities for advanced flip-chip ball grid array (FC-BGA) semiconductor substrates used in AI chips and data-center networks.

The arrangements have revived concerns about circular financing, in which companies provide funding to customers or partners that subsequently spend the money on their products.

Investors fear such practices could inflate apparent demand, encourage excess manufacturing capacity and weaken the underlying economics of the AI investment cycle.

Lam Research's latest results offered evidence of continued demand, but also highlighted limits on how quickly the supply chain can respond.

The semiconductor equipment maker reported record quarterly revenue of $8.22 billion and adjusted earnings of $2.20 per share, beating expectations.

However, CFO Doug Bettinger said its quarterly revenue guidance figure of $8.6 billion "would have been a bit higher if not for some near-term supply chain constraints."

For Nvidia, the broader market reaction underlines the tension facing the AI industry: demand for computing capacity remains substantial, but financing costs, supply bottlenecks and questions about investment returns are becoming harder for investors to ignore.

Key Takeaways AT&T shares dropped 13.4% in four weeks despite 20.4% earnings growth and an improved 2026 profit outlook.AT&T added 442,000 fiber and 379,000 postpaid phone subscribers, but promotional pricing pressured revenue.AT&T trades at 2.1X EV/sales versus its 2.3X five-year median, while net debt climbed to $149.8 billion.
AT&T Inc. (T - Free Report) shares have fallen 13.4% in the past four weeks even as third-quarter 2026 operating trends improved. The pullback raises the question of whether valuation now better compensates investors for the company’s execution risks.

Image Source: Zacks Investment Research

Fiber expansion, wireless subscriber gains and a higher earnings outlook support the case for stabilization. Elevated leverage, promotional spending and continued legacy declines keep the setup from becoming a straightforward buying call.

AT&T’s One-Month Slide Tests the Bull CaseAT&T reported third-quarter adjusted earnings of 65 cents per share, up 20.4% year over year, while revenues increased 5.3% to $32.32 billion. Both measures topped the Zacks Consensus Estimate.

Management also raised its 2026 adjusted earnings outlook to around $2.40 per share from $2.25-$2.35. The stronger operating picture contrasts with the recent share weakness, though the decline should not be tied to any single factor.

T’s Fiber Momentum Still Supports Service GrowthAT&T added 769,000 Internet connections across consumer and business accounts, including 442,000 fiber additions and 327,000 fixed wireless additions. Advanced home Internet service revenues increased 23.4% year over year.

Fiber reach rose to 39.7 million locations. AT&T remains on track to exceed 40 million locations by year-end 2026, giving the company a broader base for convergence with wireless services.

AT&T’s Wireless Gains Face Promotion PressureWireless service revenues rose 5% year over year and AT&T added 379,000 postpaid phone subscribers. Postpaid phone churn reached 0.92%, up from 0.86% in the second quarter.

Promotional discounts and introductory fiber pricing remain a trade-off. Fiber average revenue per user declined 4% year over year. T-Mobile US (TMUS - Free Report) is expanding its broadband portfolio through fiber partnerships, adding another competitive route into home Internet. Verizon Communications Inc. (VZ - Free Report) continues to pursue mobility and broadband convergence, making its network expansion another relevant benchmark for AT&T.

T’s Debt Load Limits Near-Term Financial FlexibilityNet debt climbed to $149.8 billion after the $23 billion EchoStar spectrum purchase. Net debt to adjusted EBITDA increased to 3.13X from 2.68X in the second quarter.

AT&T still targets leverage in the 2.5X range during 2029. Capital investment, dividends, repurchases and customer acquisition spending all compete for cash, making debt reduction an important part of the recovery case.

AT&T’s Valuation Leaves Room for a ReassessmentAT&T trades at 2.1X trailing 12-month enterprise value-to-sales, below its five-year median of 2.3X. The multiple also sits well below the Zacks sub-industry at 8.2X, the sector at 8.3X and the S&P 500 at 5.7X.

The valuation discount is paired with projected current-fiscal-year EPS growth of 9.9%. That combination leaves room for a reassessment if operating gains persist, but execution and deleveraging remain central to sustaining a higher valuation.

AT&T’s Mixed Signals Favor a Balanced ViewThe lower share price and discounted valuation improve the entry-point argument, but AT&T still carries enough financial and operating risk to warrant a measured stance. Fiber and wireless growth support the case, while leverage and pricing pressure limit near-term flexibility.

The stock currently carries a Zacks Rank #3 (Hold). AT&T has a Value Score of A, Momentum Score of A and VGM Score of A, but its Growth Score of C is less favorable. The mix points to attractive value and momentum characteristics without the stronger earnings-revision signal associated with a top-ranked stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Multi-chain access through Morgan Money® supports the growth of the firm's onchain platform for qualified U.S. investors

, /PRNewswire/ -- J.P. Morgan Asset Management today announced its tokenized money market funds, My OnChain Net Yield Fund ("MONY") and JPMorgan OnChain Liquidity–Token Money Market Fund ("JLTXX"), are now available on the Solana blockchain to qualified U.S. investors, strengthening the firm's capabilities. This expansion broadens access for clients and supports the continued growth of J.P. Morgan Asset Management's tokenized cash management platform.

J.P. Morgan Asset Management today announced its tokenized money market fund suite, My OnChain Net Yield Fund ("MONY") and JPMorgan OnChain Liquidity–Token Money Market Fund ("JLTXX"), is now available on the Solana blockchain to qualified U.S. investors, strengthening the firm's tokenized capabilities. This expansion broadens access for clients and supports the continued growth of J.P. Morgan Asset Management's tokenized cash management platform.

MONY is a 506(c) private placement fund that provides qualified investors the opportunity to earn U.S. dollar yields. At the time of its launch in December 2025, J.P. Morgan was the largest global systemically important bank to launch a tokenized money market fund on a public blockchain. JLTXX is a U.S. registered government money market fund designed to invest in a manner to support stablecoin issuers under the GENIUS Act.

Investors can access MONY and JLTXX through Morgan Money®, J.P. Morgan Asset Management's open-architecture trading and analytics platform for liquidity management. Through a single platform, qualified investors can subscribe and redeem into J.P. Morgan Asset Management's tokenized funds, receiving token balances at their blockchain addresses. This process supports a consistent experience as clients continue to expand tokenized activity across networks and multi-chain adoption accelerates.

"Our clients operate across more than one network, and their liquidity should too," said Paul Przybylski, Global Head of Product, Digital & Tokenized Assets, J.P. Morgan Asset Management. "Bringing JLTXX and MONY to Solana gives stablecoin issuers and institutional investors access to the same funds, across the on-chain networks where they operate. This launch builds on our position as one of the leaders in tokenized liquidity and underscores our commitment to scaling tokenized cash management through multi-chain channels."

For more information, please visit our dedicated website. The MONY blockchain token address on Solana is EToDtBM2knZ8N1BHyUq2Riq5ngWTcoD3k6qpsgf7CKYY and the JLTXX blockchain token address on Solana is J4cTuCH6frt4AnEmKfMS2k8hsUf7K94PV62sjUJno8Cz.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $4.8 trillion (as of 9/30/2026), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: www.jpmorgan.com/am.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $5.1 trillion in assets and $372 billion in stockholders' equity as of September 30, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About Morgan Money
Morgan Money is J.P. Morgan Asset Management's institutional investing platform. A multi-currency, open architecture trading and risk management system, the platform is designed to deliver a seamless customer experience, centered on operational efficiency, end-to-end system integration, and effective controls to allow customers to invest when, where and how they want — securely. Its intuitive platform allows customers to view aggregated account information across their entire portfolio, conduct in-depth risk analysis, model potential trades and compare available investment options. This platform is designed for clients, by clients — embedding their needs and priorities into its core capabilities. Additional information is available at https://www.morganmoney.io/.

JLTXX: Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 for a prospectus. Carefully consider the fund's objectives, risks, charges and expenses of the mutual fund before investing. The prospectus contains this and other fund information. Read it carefully before investing.

MONY -- FOR QUALIFIED INVESTORS ONLY.  MONY is intended for investors who qualify to invest in private placement funds. Generally, they would include investors who are "Qualified Purchasers" as described in the Investment Company Act of 1940, as amended, and "Accredited Investors" as defined in the Securities Act of 1933, as amended.

Blockchain technology is new and evolving, and its use by the Fund carries risks, including transaction delays or errors, security breaches, regulatory changes, fluctuating fees, and network splits that create alternative blockchains. Differences from traditional mutual funds may also affect how issues are addressed. Investors should safeguard their private keys, and future regulation may affect blockchain adoption.

You could lose money by investing in the Funds. Although the Funds seek to preserve the value of your investment at $1.00 per share, they cannot guarantee they will do so. An investment in the Funds are not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Funds' sponsor is not required to reimburse the Funds for losses, and you should not expect that the sponsor will provide financial support to the Funds at any time, including during periods of market stress.

JLTXX is distributed by JPMorgan Distribution Services, Inc. The U.S. placement agent for MONY is J.P. Morgan Institutional Investments, Inc.; both entities are members of FINRA. 

SOURCE J.P. Morgan Asset Management

Trading conditions continue to be challenging for silver in the short term. The precious metal has been losing value at an accelerated pace and, during today's session alone, has fallen more than 5.5%, reaching new lows for 2026. This development highlights how selling pressure has become increasingly dominant across recent market activity.

For now, this weakness appears to be driven mainly by a lack of confidence in demand and by silver's inability to establish itself as an attractive alternative to other markets. Although some competing assets, such as bonds, have begun to lose part of their appeal, silver has failed to attract capital flows in a consistent manner. At the same time, inflation expectations and the view that interest rates may remain higher for longer continue to favor other asset classes, reducing the appeal of the precious metal. As long as this rotation of capital toward alternative markets persists, selling pressure on XAG/USD could remain relevant in the sessions ahead.

Is Confidence in the Silver Market Beginning to Fade?
One of the most important developments in recent sessions has been the behavior of the U.S. bond market. A few weeks ago, it was evident that rising 10-year Treasury yields were accompanied by weaker demand for silver. As the attractiveness of these instruments increased, precious metals found it increasingly difficult to attract capital flows.

However, this relationship has started to change. U.S. Treasury yields have entered a meaningful moderation phase and are now trading below the 5.0% area, moving away from the highs recorded earlier this year. What is particularly interesting is that, despite this loss of relative attractiveness within the bond market, silver has failed to respond positively and has instead continued to deepen its decline.

This situation may point to two different scenarios. First, capital flows could be shifting toward other markets currently perceived as more attractive. Second, lower yields may also reflect stronger demand for bonds themselves, since bond yields tend to decline when bond prices rise. Both scenarios lead to the same conclusion: silver is struggling to establish itself as a relevant safe-haven alternative, even as the bond market loses part of its appeal.

Source: TradingEconomics

Another important factor involves the growing relevance of inflation-related risks. Part of this concern stems from the oil market, where WTI crude oil continues to trade near the $100 per barrel area, reinforcing concerns that energy costs may remain elevated.

What stands out is that silver is not benefiting from this environment. Traditionally, higher inflation risks could be expected to support some precious metals. However, the current market reaction is different. While silver continues to lose ground, assets such as the Dow Jones Industrial Average remain resilient and continue to trade above the 52,000-point level.

This suggests that a portion of capital flows is finding greater appeal in other market segments. In addition, silver faces an extra challenge due to its significant industrial component. Expectations of persistently higher inflation could also raise concerns about a potential slowdown in industrial demand over the coming months, creating an additional headwind for the metal.

Source: TradingEconomics

Taking all of this into account, the weakness currently observed in silver appears to be the result of several factors that have increased the attractiveness of alternative markets. The metal has struggled to regain credibility both as a safe-haven asset and as a compelling risk alternative, even while some competing markets have started to lose momentum. As a result, capital flows continue to favor other assets viewed as more attractive in the current environment. Unless silver manages to rebuild investor confidence, selling pressure could remain a dominant feature of XAG/USD in the sessions ahead.

Silver Technical Forecast

Source: StoneX, Tradingview

The bearish trendline continues to gain relevance: Since the beginning of 2026, silver has developed a relatively consistent bearish structure that allowed the formation of an important long-term downward trendline. The recent acceleration of losses has reinforced this structure even further and, as long as sellers remain in control, the broader downtrend is likely to remain the dominant technical reference over the coming weeks. However, the speed of the decline is becoming increasingly pronounced, which could also create room for short-term bullish corrections.

 
TRIX: The TRIX indicator continues to trade below the 0 neutral level, reflecting persistent bearish momentum in long-term exponential moving averages. As long as this dynamic remains in place, the bearish bias could continue to dominate the broader market outlook.

 
RSI: The RSI presents a similar picture, remaining below the 50 neutral zone. However, the indicator is also moving closer to the 30 oversold level, a development that may indicate an excessive buildup of recent selling pressure and could open the door to short-term corrective rebounds.

 
Key Levels to Watch:

$62 – Key Resistance: This level aligns with the long-term bearish trendline and the 50-period simple moving average. Sustained moves above this area could challenge the dominant bearish structure and support a more neutral market environment.

 
$58 – Near-Term Barrier: An important retracement zone observed in recent weeks that could become the primary level to monitor in the event of short-term bullish corrections.

 
$54 – Critical Support: A support area not seen since November 2025 that now stands as the most important downside barrier on the chart. A sustained break below this level could significantly reinforce bearish control and support a further extension of the prevailing downtrend over the coming weeks.

 
Written by Julian Pineda, CFA, CMT – Market Analyst

Follow him on: @julianpineda25

Key Takeaways Royal Caribbean is set to report Q3 earnings on Oct. 27, with EPS expected to rise 11% to $6.38.Strong cruise demand, record pricing and onboard spending are likely to boost Royal Caribbean's Q3 revenues.Royal Caribbean faces a 200-basis-point yield headwind in Q3, while cruise operating costs may rise 10.4%.
Royal Caribbean Cruises Ltd. (RCL - Free Report) is scheduled to report third-quarter 2026 results on Oct. 27, before the opening bell.

RCL’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, and missed on one occasion with an average surprise of 4.9%.

Trend in the Estimate Revision of RCLThe Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at $6.38, indicating a rise of 11% from $5.75 reported in the year-ago quarter.

For revenues, the consensus mark is pegged at nearly $5.59 billion. The metric suggests a rise of 8.7% from the year-ago quarter’s figure.

Let’s take a look at how things have shaped up in the quarter.

Factors Likely to Shape Royal Caribbean’s Q3 ResultsTop Line: Royal Caribbean’s third-quarter revenues are likely to have benefited from robust demand for cruise vacations, increased capacity and sustained consumer spending on premium travel experiences. Strong booking volumes, record pricing and continued momentum in onboard spending and pre-cruise purchases are expected to have supported revenues. The company's differentiated fleet, private destinations and expanding loyalty programs likely contributed to guest engagement and spending.

Our model estimates third-quarter passenger ticket revenues to rise 5.8% year over year to $3.8 billion. We expect onboard and other revenues to rise 14.9% year over year to $1.7 billion.

However, prolonged geopolitical tensions in the Middle East are likely to have weighed on booking momentum and yield growth for select European itineraries, particularly Mediterranean sailings. Higher international air travel costs and consumers' preference for closer-to-home destinations may have further influenced booking patterns. Deployment mix, new-ship timing and dry-dock comparisons are expected to have created an approximately 200-basis-point headwind to third-quarter yields. Our model predicts third-quarter net yields at $301.7 (on a reported basis) and $300.5 (constant-currency basis).

Margins: Royal Caribbean's third-quarter profitability is likely to have benefited from disciplined cost management, operational efficiencies and continued efforts to optimize spending. The company's focus on leveraging technology and artificial intelligence to improve productivity, alongside its expanding scale, is expected to have supported earnings growth.

However, elevated fuel prices and the timing of operating expenses may have posed challenges. Certain costs that shifted from the first half into the second half of 2026 could have affected quarterly expenses. Our model projects third-quarter 2026 total cruise operating expenses to rise 10.4% year over year to $2.7 billion.

Nonetheless, fuel hedging arrangements likely provided some protection against market volatility. Royal Caribbean expects third-quarter net cruise costs per available passenger cruise day, excluding fuel, to decline 1.1%-1.6% in constant currency. The company expects third-quarter adjusted EPS to be between $6.26 and $6.36.

What Our Model Says About RCL StockOur proven model predicts an earnings beat for Royal Caribbean this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.

Royal Caribbean’s Earnings ESP: Royal Caribbean has an Earnings ESP of +0.13%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

RCL’s Zacks Rank: The company currently has a Zacks Rank #3.

Other Stocks Poised to Beat on EarningsHere are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.

Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 1.3%.

Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +3.43% and a Zacks Rank of 3.

 MAR’s earnings for the to-be-reported quarter are expected to increase 15.4%. Marriott reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 2.5%.

Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 3.

RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.

Key Takeaways HLT is poised to benefit from stronger business and group travel, steady leisure demand and calendar effects.Hilton's capital-light model and growing hotel pipeline support management and franchise fee growth.Middle East conflict, hotel renovations and weaker group travel in China remain key headwinds to performance.
Hilton Worldwide Holdings Inc. (HLT - Free Report) is scheduled to report third-quarter 2026 results on Oct. 27, before the opening bell.

HLT’s earnings surpassed estimates in three of the trailing four quarters and met estimates in one, with the average surprise being 4.6%.

Trend in Estimate Revision of HLTThe Zacks Consensus Estimate for the third quarter’s adjusted EPS has declined slightly in the past 30 days to $2.34 from $2.35. The revised estimated figure indicates 10.9% growth from the year-ago reported figure of $2.11 per share.

For revenues, the consensus mark is pegged at nearly $3.39 billion. The metric implies an 8.5% rise from the year-ago quarter’s figure.

Factors Likely to Shape HLT’s Q3 ResultsHilton’s third-quarter 2026 performance is likely to have reflected improving travel demand across key segments, supported by strength in business-transient and group travel. The company expects system-wide comparable RevPAR to increase approximately 4% year over year on a currency-neutral basis. Business-transient demand, particularly from small and medium-sized businesses, is likely to have supported performance, while leisure demand is expected to have remained steady. Favorable calendar effects and World Cup-related demand are also expected to have contributed to RevPAR growth.

Group and business travel are expected to have been key drivers of hotel performance during the quarter. Hilton reported strengthening midweek business-transient demand and solid growth from small and medium-sized businesses entering the third quarter. These trends, alongside continued demand across leisure travel, are likely to have supported occupancy and pricing.

Hilton’s fee-based, capital-light model is expected to have supported revenue growth. Continued hotel openings, conversions and a record development pipeline are likely to have contributed to management and franchise fees. Our model predicts third-quarter revenues from Franchise and Licensing Fees to rise 12.1% year over year to $828.6 million. We expect revenues from Base and Other Management Fees to rise 8% year over year to $100.5 million.

In addition, Hilton’s focus on owner profitability and operating efficiency is likely to have supported its asset-light business model. Initiatives to reduce loyalty and program fees, along with efforts to use technology and AI to improve hotel-level operations, are intended to help owners manage costs and strengthen hotel profitability.

However, third-quarter performance is likely to have faced some headwinds. The ongoing conflict in the Middle East is expected to have weighed on performance, while significant renovations at hotels in Hilton’s ownership portfolio and timing-related items are also expected to have affected earnings. China’s demand environment remains challenging, with weaker group travel contributing to lower RevPAR. These factors are likely to have partly offset strength in other regions and travel segments.

From an earnings perspective, Hilton expects third-quarter 2026 net income between $502 million and $516 million. Adjusted EBITDA is expected to range from $1.035 billion to $1.055 billion, while adjusted earnings per share are projected between $2.28 and $2.34. The company’s guidance also reflects the expected impact of the Middle East conflict and significant renovations in its ownership portfolio.

Overall, Hilton’s third-quarter 2026 results are expected to reflect improving business-transient and group demand, continued growth from its fee-based model and a strong development pipeline. However, geopolitical uncertainty, hotel renovations and uneven demand across regions are likely to have moderated the quarterly performance.

What Our Model Says About HLT StockOur proven model predicts an earnings beat for Hilton this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.

Earnings ESP for HLT: Hilton currently has an Earnings ESP of +0.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Hilton’s Zacks Rank: The company has a Zacks Rank #3 at present.

Other Stocks Poised to Beat on EarningsHere are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.

Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 1.3%.

Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +3.43% and a Zacks Rank of 3.

MAR’s earnings for the to-be-reported quarter are expected to increase 15.4%. Marriott reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 2.5%.

Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 3.

RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.

Key Takeaways Chevron is exploring a $1 billion sale of U.S. Gulf assets, including Petronius, Tubular Bells and Llano.Chevron is prioritizing Anchor and Ballymore to reach 300,000 barrels of oil equivalent per day by 2026.CVX's potential asset sales could attract global and domestic buyers, freeing up capital for growth projects.
Per Reuters, Chevron Corporation (CVX - Free Report) is exploring the potential divestment of several mature oil and gas assets in the U.S. Gulf as part of its strategy to streamline operations and prioritize high-growth opportunities. The proposed transaction could generate approximately $1 billion, according to sources familiar with the matter, although the company has not confirmed any expected proceeds.

The energy major has initiated a marketing process involving select producing properties, with the potential divestments expected to unfold over several months. Chevron emphasized that the initiative remains in its preliminary stages and that there is no certainty of completing any transactions.

The portfolio review reflects Chevron's intention to concentrate resources on newer offshore developments with stronger long-term growth potential while optimizing its existing asset base.

Chevron Identifies Mature Gulf Assets for Potential SaleChevron's proposed divestment portfolio includes Petronius, Tubular Bells and Llano, alongside working interests in several other operated and non-operated offshore fields.

Petronius, which commenced production in 2000, is operated by Chevron in partnership with Talos Energy. Tubular Bells began operations in 2014 and is now wholly owned by Chevron. The company initially held a 43% interest in the field before acquiring the remaining ownership through its takeover of Hess.

Meanwhile, Chevron inherited a 50% stake in Llano following the Hess acquisition. The Shell-operated field has been producing since 2004.

By considering the disposal of these established producing assets, Chevron aims to better align its offshore portfolio with its strategic priorities. However, the company has clarified that the marketing process does not necessarily mean the properties will ultimately be sold.

Anchor and Ballymore Drive Chevron's Gulf Growth StrategyChevron's portfolio optimization efforts coincide with its ambition to increase U.S. Gulf production to 300,000 barrels of oil equivalent per day by the end of 2026.

The company is increasingly prioritizing newer developments, including Anchor and Ballymore, as it seeks to expand production from strategically important offshore projects.

Anchor represents a significant technological milestone as Chevron's first offshore platform operating at ultra-high subsea pressure. Ballymore, which commenced production in 2025, also forms an important part of the company's regional development strategy.

Beyond these projects, Chevron continues exploring opportunities to discover additional hydrocarbon resources near its existing offshore infrastructure. The company has also maintained an active presence in federal offshore drilling-rights auctions, reflecting its commitment to developing future production opportunities.

Strong Buyer Interest Could Support Chevron's Divestment PlansFavorable market conditions could improve Chevron's prospects of securing buyers for its mature offshore properties. Continued interest in U.S. energy assets, coupled with supportive oil prices, provides a potentially attractive backdrop for the proposed transactions.

According to people familiar with the process, the assets could collectively fetch approximately $1 billion, although the final value would depend on negotiations and market conditions.

Potential buyers may include international offshore operators seeking to establish or expand their presence in the U.S. Gulf. Domestic energy companies with existing regional operations could also participate, while other major energy producers may evaluate the opportunity.

A successful divestment would enable Chevron to further rationalize its portfolio and potentially redirect capital toward developments offering greater long-term growth prospects.

What the Asset Sale Could Mean for ChevronChevron's planned portfolio reshaping underscores its focus on improving the strategic composition of its U.S. Gulf operations rather than withdrawing from the region.

By potentially monetizing older producing fields while advancing newer offshore developments, the company could strengthen its ability to concentrate investment on projects supporting future production growth.

Nevertheless, the divestment initiative remains subject to buyer interest, valuation negotiations and transaction execution. Its ultimate financial and operational impact will depend on which assets are sold and the terms achieved.

For now, Chevron's efforts highlight a broader strategy of balancing portfolio optimization with continued investment in high-potential offshore resources.

CVX’s Zacks Rank & Other Key PicksChevron is one of the largest publicly traded oil and gas companies, with operations that span almost every corner of the globe. Currently, CVX flaunts a Zacks Rank #1 (Strong Buy).

Investors interested in the energy sector may consider some other top-ranked stocks like Canadian Natural Resources Limited (CNQ - Free Report) , Crescent Energy Company (CRGY - Free Report) and Delek US Holdings, Inc. (DK - Free Report) , each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2026 earnings indicates 61.4% year-over-year growth.

Crescent Energy is a U.S. onshore oil and gas producer focused on three major basins: the Eagle Ford in Texas, the Permian in Texas and New Mexico, and the Uinta in Utah. The Zacks Consensus Estimate for CRGY’s 2026 earnings indicates 46.7% year-over-year growth.

Brentwood, TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The Zacks Consensus Estimate for DK’s 2026 earnings indicates 169.4% year-over-year growth.

NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Baidu, Inc. (NASDAQ: BIDU) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Baidu securities between November 18, 2025 and August 17, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/cases/baidu-inc-bidu-class_action_lawsuit.

Baidu Case Details

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:

Baidu overstated the ability of its AI business to mitigate rapid declines in its legacy online marketing business; as a result, Baidu’s revenue was reasonably likely to decline; and as a result of the foregoing, Defendants’ positive statements about Baidu’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. What's Next for Baidu Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/cases/baidu-inc-bidu-class_action_lawsuit. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Baidu you have until November 13, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Baidu Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Baidu Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

SummaryPalantir Technologies Inc. delivered strong Q2 results, showcasing robust operating leverage and disciplined cost management, but valuation now limits upside.Q2 revenue surged 93% year-over-year, while operating expenses grew only 34.2%, driving GAAP operating margin to 47.1% and adjusted margin to 61.7%.I maintain a Hold rating on PLTR, as the stock price has outpaced earnings growth and leaves little margin for disappointment at 120x FY2026 EPS.Key PLTR risks include intensifying AI competition, potential margin compression, and the need for continued control of stock-based compensation and dilution. Shinsei Motions/iStock via Getty Images

Elevator Thesis I downgraded my rating for Palantir Technologies Inc. (PLTR) from a Strong Buy to a Hold in my June article.

I was impressed by how the company was turning AI adoption into

952 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within 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.

TSMC's CEO confirmed talks with SpaceX over the massive Terafab chip plant, but drew a hard line that could blow up the deal before it starts. Elon Musk has a very different idea about who runs the place.

Taiwan Semiconductor (NYSE:TSM | TSM Price Prediction) confirmed on its October 15, 2026 third-quarter earnings call that it is in talks with SpaceX (NASDAQ:SPCX) about the Terafab chip plant. CEO C.C. Wei also set one firm condition: TSMC has to operate the fab.

Wei Sets the Terms for Terafab
Wei said TSMC is “talking to one of our customers who is trying to build a fab, Terafab, let me be more specific,” and is checking whether it could use that capacity. An analyst asked whether the facility would be TSMC-owned. Wei did not commit to an ownership structure: “We are still in discussion, let me say that. Either way it would be possible.” He was clear that a Texas plant “must be run by TSMC.”

That puts him at odds with Elon Musk. Earlier this month, Musk confirmed on X that the two companies had talked, but he wrote “we will build and run the fab,” with TSMC at most subleasing part of the facility.

U.S. Customers Are Pushing TSMC Toward Texas
“We work very hard to expand our capacity in the U.S. This is necessary because most of our large customers are in the U.S., and they request TSMC to increase the capacity,” Wei said, adding, “We sent the teams to Texas to do all the evaluation.”

The numbers support his case. Third-quarter revenue reached $46.72B at a 66.4% gross margin. HPC revenue rose 22% quarter over quarter to 68% of revenue. Fourth-quarter guidance is $52.3B to $54.3B, and full-year revenue is expected to grow about 44%.

Running the Fab Protects TSMC’s Margins
Wei’s demand for operating control fits with what U.S. plants cost TSMC. Management said overseas fabs will reduce gross margin by about 2% for full-year 2026, and that hit could grow to 3%-4% over the next few years. Capex guidance remains at $60 billion to $64 billion. Wei also made clear TSMC wants every order it can get: “We have no intention to leave food on the table for others.”

SpaceX Needs More Chips
SpaceX’s need for chips is large and growing. In the second quarter, its AI segment revenue rose 247% to $2.56B, and $15.83B of its $18.37B in capex went into AI computing. On that call, Musk said, “Our understanding within NVIDIA is that we will receive a very small percentage of their GPUs next year.” All of that AI expansion still has to be powered, cooled, and networked by someone, and we rounded up seven suppliers riding that wave in a free report on the non-chip side of the AI boom.

Next Steps for Investors
Earnings per share came in at $4.60, ahead of the $4.46 consensus. Even so, TSM shares fell 3.05% to $416.90 in morning trading and are down 11.71% over the past week. SPCX fell 3.61%. Wei said TSMC has “been prudent in our business planning going into 2027.” On Terafab, he promised more details later: “If we have any solid conclusion, we will share with you.” The open question is who would run the fab, and any deal will have to settle it.

Contact [email protected] for any questions or corrections.

Wall Street expects a year-over-year increase in earnings on higher revenues when Republic Services (RSG - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis waste management company is expected to post quarterly earnings of $1.92 per share in its upcoming report, which represents a year-over-year change of +1.1%.

Revenues are expected to be $4.41 billion, up 4.7% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.95% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Republic Services?For Republic Services, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.11%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Republic Services will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Republic Services would post earnings of $1.81 per share when it actually produced earnings of $1.85, delivering a surprise of +2.21%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Republic Services doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Waste Removal Services industry, GFL Environmental Inc. (GFL - Free Report) , is soon expected to post earnings of $0.19 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +11.8%. This quarter's revenue is expected to be $1.49 billion, up 20.9% from the year-ago quarter.

The consensus EPS estimate for GFL Environmental has been revised 9.9% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that GFL Environmental will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Wall Street expects a year-over-year decline in earnings on lower revenues when Coinbase Global, Inc. (COIN - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -112.5%.

Revenues are expected to be $1.16 billion, down 38.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 40.92% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Coinbase Global?For Coinbase Global, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +86.23%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Coinbase Global will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Coinbase Global would post earnings of $0.14 per share when it actually produced a loss of -$0.39, delivering a surprise of -378.57%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Coinbase Global appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Financial - Miscellaneous Services industry, Houlihan Lokey (HLI - Free Report) , is soon expected to post earnings of $1.58 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -14.1%. Revenues for the quarter are expected to be $609.92 million, down 7.5% from the year-ago quarter.

The consensus EPS estimate for Houlihan Lokey has been revised 0.6% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.89%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Houlihan Lokey will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Spotify had a strong third quarter, reaching 788 million monthly active users and generating nearly €5 billion (around $5.6 billion USD) in revenue. But the more interesting takeaway from its earnings call was how the company sees people listening to music in the future, and why the rise of AI agents could be good news for its business.

Co-CEO Gustav Söderström thinks the music streaming giant is particularly well-suited to this shift. 

“Spotify is in one of the few categories that actually stands to thrive in the agentic age,” Söderström tells investors. “This is because agents excel at replacing and taking care of things people would rather not do. People love getting rid of chores. But entertainment is the opposite. Nobody asks an agent to ‘summarize a song’ for them.”

Instead of opening Spotify, searching for an artist, and building a playlist themselves, listeners could ask an AI assistant to do the work for them. They might want music for a run, a podcast about something they’ve been discussing with an AI, or an audiobook recap that picks up exactly where they left off.

Spotify wants to be the service those agents turn to, letting people discover music and interact with Spotify through conversations rather than just its own app. Notably, Spotify was the first music service to integrate with Meta’s Muse assistant, and it also integrates with ChatGPT and Claude.

“Our goal is to be the media service that you use from any agent, really turning the growth of agents into a tailwind rather than a headwind. That is exactly what we are seeing now. We are seeing really good adoption of Spotify inside these agents. While other companies are maybe trying to figure out what to do and many are leaning out, we are actually leaning in and participating in the growth instead of standing by the roadside and looking at it,” said Söderström.

The market is already showing signs of friction over how agents access third-party services. Amazon, for example, has blocked Meta’s Muse from shopping on its platform, illustrating how major players may restrict outside agents when questions arise around access, security, privacy, or commercial control. 

Spotify’s pitch isn’t just that AI should just make entertainment easier to find. It should make the experience more personal, too.  

Söderström describes Spotify today as “an intelligent media service encapsulated as an agent, whether you use it directly through our application or via another agent…Spotify is now an agent that you can not only click on in our app, but talk to, ask questions of, and instruct. We can do things today that no other media services can do,” he said.

“For example, you can ask Spotify to go through your listening history song by song back to 2008, picking your true favorites, beat-stretching them by speeding them up or down, and then sorting them by key and BPM. Then you can ask it to mix them together into the perfect running playlist at your exact cadence,” Söderström explained.

Spotify has years of listening history to draw on, including the artists people return to, the songs they skip, and the music they discover. That information can help it make recommendations that feel more personal than a generic playlist generated by an AI assistant that doesn’t know much about someone’s tastes.

However, Söderström also emphasized that Spotify isn’t sending its listener data to partners. Instead, the agent asks Spotify for something, and Spotify uses its own systems to reason about the request and choose what to play.

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Lauren covers media, streaming, apps and platforms at TechCrunch.

You can contact or verify outreach from Lauren by emailing [email protected] or via encrypted message at laurenforris22.25 on Signal.

Wall Street expects a year-over-year decline in earnings on higher revenues when T. Rowe Price (TROW - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis financial services firm is expected to post quarterly earnings of $2.59 per share in its upcoming report, which represents a year-over-year change of -7.8%.

Revenues are expected to be $1.95 billion, up 3.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.02% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for T. Rowe?For T. Rowe, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.42%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that T. Rowe will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that T. Rowe would post earnings of $2.52 per share when it actually produced earnings of $2.57, delivering a surprise of +1.98%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

T. Rowe appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.