Track market-moving stories before they get noisy

Key Takeaways Arista is gaining from rising AI networking demand and expanding Ethernet opportunities.Arista's Etherlink AI-fabric customers surpassed 100, while Scale-Across could reach $15B-$20B by 2030.Customer concentration, high inventory and declining gross margins pose risks to Arista's growth. Arista Networks, Inc. (ANET - Free Report) has gained 64.7% year to date compared with the Internet software industry’s growth of 8.8%. The stock has outperformed the Zacks Computer & Technology sector and the S&P 500 during the same time frame.

Image Source: Zacks Investment Research

It has underperformed its peers like Hewlett Packard Enterprise Company (HPE - Free Report) but outperformed Cisco Systems, Inc. (CSCO - Free Report) . HPE has gained 200.1%, and Cisco has increased 52.4% during this period.

AI Networking and Expanding Ethernet opportunity are Growth DriversArista is benefiting from rapidly rising demand for Ethernet-based networking infrastructure used in AI data centers. The company said cumulative customers using its Etherlink AI-fabric switches had surpassed 100 by the second quarter of 2026 compared with only a handful of customers in 2024. Its newer 7060XE7 platform supports up to 1.6-terabit throughput. Features such as Smart System Upgrade (SSU) and Multipath Reliable Connection (MRC) are engineered to improve network reliability and accelerator utilization.

This creates an important opportunity as AI clusters become larger and more geographically distributed. Arista's Scale-Across architecture is designed to connect AI infrastructure across multiple locations. The company expects the Scale-Across switching and routing opportunity to reach roughly $15-$20 billion by 2030.

Enterprises’ transition toward high-speed switching has created a major opportunity for the company. Its portfolio, which consists of traditional Ethernet deployments to 1.6-terabit AI networking platforms, is witnessing sustained market-share gains.

Moreover, Arista’s growth opportunity is increasingly diversified beyond its traditional data-center switching. AI/cloud networking, campus and routing, and cognitive networking through software and services are high-margin areas where Arista is expanding its foothold.

Major Challenges for AristaOne of the biggest risks is customer concentration. Arista generates a significant portion of its sales from large hyperscale customers. Any changes in the capital-spending plans of a relatively small group of buyers can have a material impact on revenue. Arista's inventory reached approximately $2.5 billion at the end of the second quarter, up from $2.4 billion in the prior quarter. Inventory fluctuations could continue as the company balances component availability with customer deployment schedules. This high inventory level can become a burden if customer deployments are delayed or AI infrastructure spending slows.

Arista operates in highly competitive data-center switching, AI networking and Ethernet markets. Competitors include major companies such as Cisco and HPE. Stiff competition puts pressure on pricing and hinders margins. The pressure is already visible in gross margins: second-quarter non-GAAP gross margin was 63.4% compared with 65.6% a year earlier. Management expects the full-year margin to remain within a 62-64% range. In addition to fierce competition, the declining gross margin also reflects higher costs related to memory and silicon.

Estimate Revision TrendEarnings estimates for Arista for 2026 have remained unchanged and for 2027 it has increased over the past 60 days.

Image Source: Zacks Investment Research

Key Valuation Metric of ANETFrom a valuation standpoint, Arista appears to be relatively more premium than the industry. Going by the price/earnings ratio, the company's shares currently trade at 44.66 book value, higher than 30.95 of the industry average.

Image Source: Zacks Investment Research

End NoteArista is positioned to benefit from the continued expansion of AI infrastructure and high-speed Ethernet networking. Rising adoption of its Etherlink AI fabrics, expanding Scale-Across opportunity, and broader campus and routing portfolio are positives. However, Heavy reliance on large hyperscale customers makes revenue sensitive to changes in their capital-spending plans. Persistent component shortages and high input costs create supply chain uncertainty. With a Zacks Rank #3 (Hold), Arista has a balanced outlook, as strong AI-driven growth prospects are offset by customer concentration, supply-chain risks and valuation concerns. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Corpay shares gained 14.6% in three months, beating the industry's 0.2% decline and the S&P 500's 3.8% rise.CPAY's Corporate Payments revenues rose 42% in Q2'26, fueled by cross-border and payables demand.CPAY's Alpha & Avid investments added 39 cents to adjusted EPS, while $321M in buybacks supported returns. Corpay, Inc. (CPAY - Free Report) stock has gained 14.6% over the past three months, outperforming the industry’s 0.2% decline and the Zacks S&P 500 Composite's 3.8% return.

CPAY’s Three-Month Share Price Performance
                                                                   Image Source: Zacks Investment Research

Let us delve deeper into the factors that have contributed to the company’s outperformance.

CPAY’s Broad-Based Segment Growth Supports Revenue MomentumCorpay is benefiting from sustained demand across its payment businesses. In the second quarter of 2026, Corporate Payments revenues rose 42% year over year to $548.7 million, contributing 41% of total revenues. Pro-forma and macro-adjusted revenues grew 16%, while adjusted spend volume rose 43%, driven by cross-border and payables activity.

Vehicle Payments revenues increased 13% to $580.2 million, with adjusted growth of 8%, supported by continued strength in Brazil and Europe. Lodging Payments revenues rose 3% to $123.2 million, with organic growth of 2%, reflecting sequential improvement as prior-year comparisons eased. Continued momentum in Corporate Payments and steady expansion in Vehicle Payments support revenue growth, while a recovery in Lodging Payments provides additional upside.

CPAY’s Past Buyouts Accelerate Corporate Payments GrowthCorpay’s acquisitions expand its corporate payments capabilities and addressable market. The 2025 acquisition of Alpha Group International strengthened its cross-border foreign exchange and global accounts offerings, while the AvidXchange investment expanded its presence in payables automation. Together, Alpha and Avid contributed 39 cents to adjusted EPS in the second quarter of 2026. More than 80% of Alpha’s corporate volume had migrated to Corpay’s global platform, while Avid’s sales grew more than 30% and EBITDA more than doubled year over year. These investments deepen Corpay’s corporate payments exposure and create opportunities for cross-selling and operational efficiencies. Continued integration and scaling support earnings growth and a more diversified revenue mix.

Share Buybacks Drive Per-Share Earnings Growth for CPAYCorpay’s ongoing share repurchases reinforce its commitment to shareholder returns. In the second quarter of 2026, the company repurchased approximately 1 million shares for $321 million, with $1.4 billion remaining under its authorization. Management also plans to deploy proceeds from the vehicle maintenance divestiture toward additional buybacks to offset the transaction’s expected adjusted EPS impact. The substantial remaining authorization provides flexibility for continued repurchases. A lower share count supports per-share earnings growth and enhances shareholder value.

CPAY’s Zacks Rank & Stocks to ConsiderCorpay currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A couple of better-ranked stocks in the broader Business Services sector are CBIZ, Inc. (CBZ - Free Report) and EVERTEC, Inc. (EVTC - Free Report) .

CBIZ carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 10%.

CBZ beat earnings estimates in three of the trailing four quarters and missed once, delivering an earnings surprise of 8.9% on average.

EVERTEC also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 10%.

EVTC beat earnings estimates in three of the trailing four quarters and missed once, with an average earnings surprise of 3.8%.

The network says it is actively considering becoming an L1, with 2027 as the target for becoming the first fully quantum-resistant chain.

Starknet weighs becoming a Layer 1 to chase quantum resistance by 2027

Posted October 8, 2026 at 6:44 am ET.

Starknet is “actively considering becoming an L1,” the network said in a post on X on Thursday. The move would let Starknet become “the first fully quantum-resistant network,” according to the post, which set 2027 as the target.

Starknet is currently a layer-2 network that publishes its state data to Ethereum as blobs, according to its own post-quantum roadmap.

This story is an excerpt from the Unchained Daily newsletter.

Subscribe here to get these updates in your email for free

Ben-Sasson Frames the Question Eli Ben-Sasson, co-founder and CEO of StarkWare, put the idea to his followers minutes earlier. He asked whether “Starknet becoming an L1 for post-quantum agility” is a good idea or a bad one.

He pointed to two pressures. The first is the quantum threat, which he said “may be MUCH closer than we think.” The second is AI, which he said is “becoming more powerful than we can process.” Together, he wrote, they call for “bunker mode.”

Ben-Sasson listed three requirements for a chain to be future-proofed: the right cryptography, crypto agility and becoming an L1. He said the post connects to a talk he gave at Token2049 on Thursday.

The Existing Quantum Roadmap StarkWare published a three-phase post-quantum roadmap for Starknet on June 30. The first phase replaces Pedersen hashing with BLAKE2 across the state, chain environment and consensus layers, and plans consensus signatures built on post-quantum schemes such as Falcon-512. The second phase covers migrating existing contracts.

The third phase covers two dependencies on Ethereum, the bridge’s messaging layer and blob data availability. StarkWare said in the roadmap that those “will be resolved as Ethereum’s migration progresses.” The roadmap did not mention becoming an L1.

The roadmap also said that all protocol-level changes to Starknet are subject to approval through its governance process. Neither Thursday post said whether or when a decision on the L1 idea would be taken.

Related Listen: How Zcash and NEAR Are Driving This Crypto Bull Run

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Key Takeaways Arm gains 11.5% in a month as AI adoption and demand for advanced computing infrastructure improved sentiment.ARM's fiscal Q1 revenues rose 22% to $1.29B, with data-center royalties more than doubling year over year.Its 43.54X forward sales multiple far exceeds the industry's 5.14X, warranting caution. Arm Holdings plc (ARM - Free Report) has gained 11.5% over the past month despite declining 10% over the past three months. The recent recovery suggests improving investor sentiment toward the semiconductor designer amid accelerating artificial intelligence (AI) adoption and expanding demand for advanced computing infrastructure.

                                                            Image Source: Zacks Investment Research

ARM's growing presence in data centers, increasing royalty revenues and opportunities in AI-powered processing support its long-term prospects. However, its elevated valuation raises questions about whether the recent rebound offers an attractive entry point. Let us examine the factors shaping ARM's investment outlook.

Expanding AI Investments Create Growth Opportunities for ARMThe accelerating pace of AI infrastructure development presents a significant opportunity for Arm. Technology companies are committing substantial resources to building data centers, developing advanced processors and expanding computing capacity to support increasingly sophisticated AI applications.

AI developer Anthropic's ambitious infrastructure spending plans underscore the massive investments required to support next-generation AI models. Meanwhile, major cloud providers, including Alphabet (GOOGL - Free Report) and Microsoft (MSFT - Free Report) , continue investing heavily in AI infrastructure and computing technologies. These investments should support sustained demand for advanced semiconductor architectures.

Arm Holdings stands to benefit from this transition through its energy-efficient processor designs, which are increasingly relevant to cloud computing, AI inference and edge applications. As computing workloads become more demanding, the need for processors capable of delivering higher performance without excessive power consumption should strengthen the company's market opportunities.

Additionally, the growing adoption of Arm-based architectures across data centers could diversify its revenue sources beyond smartphones, supporting a more balanced long-term growth profile.

Agentic AI Adoption Strengthens ARM's CPU ProspectsThe emergence of autonomous AI agents is creating additional opportunities for central processing units (CPUs). Unlike conventional AI applications primarily focused on model training, agentic systems require considerable general-purpose processing capabilities to coordinate tasks, manage workflows and execute instructions.

This development could accelerate demand for energy-efficient CPUs alongside specialized AI accelerators. Arm Holdings' expanding processor portfolio positions it to capture opportunities as enterprises deploy more sophisticated AI systems across cloud environments.

The company's first-quarter fiscal 2027 performance demonstrates this momentum. Revenues increased 22% year over year to $1.29 billion, supported by a 22% increase in royalty revenues to $715 million and a 23% rise in licensing revenues to $574 million.

Notably, data-center royalties more than doubled year over year, highlighting increasing adoption of Arm-based processors in cloud infrastructure. The company's growing penetration in higher-value computing markets should support future royalty expansion.

High-Margin Operations Support ARM's Earnings PotentialArm's intellectual property licensing business provides an important competitive advantage. Its established ecosystem enables semiconductor manufacturers to incorporate Arm architectures into their products, creating recurring licensing and royalty opportunities.

This business structure supports substantial profitability without requiring Arm to manufacture most of the chips based on its designs. In the first quarter of fiscal 2027, its non-GAAP gross margin reached 98.1%, demonstrating the profitability of its technology licensing operations.

The company also reported a non-GAAP operating margin of 41.2% compared with 39.1% in the year-ago period. Improving operating profitability, combined with expanding adoption of its advanced architectures, should strengthen earnings potential.

Furthermore, Arm's expansion into purpose-built processors could create additional revenue opportunities. However, this transition also introduces execution challenges and potentially different margin characteristics from its traditional licensing business.

Stretched Valuation Warrants Investor CautionDespite favorable growth prospects, ARM's premium valuation remains a significant concern. Based on the supplied valuation figures, the stock trades at a forward price-to-sales multiple of 43.54X, substantially above the semiconductor industry's approximately 5.14X.

Such an elevated multiple reflects considerable expectations for AI-driven growth, making the stock vulnerable to disappointments in revenue expansion or profitability.

                                                                 Image Source: Zacks Investment Research

Moreover, semiconductor demand remains sensitive to economic conditions, customer investment cycles and technology spending trends. Slower smartphone recovery or moderation in cloud infrastructure expenditure could weigh on growth.

Arm's increasing investments in product development may also pressure operating expenses. Consequently, its strong competitive positioning does not necessarily translate into attractive near-term investment returns at the current valuation.

How Do NVIDIA and Intel Compare With ARM?NVIDIA (NVDA - Free Report) represents an important comparison given its leadership in AI accelerators and data-center computing. NVIDIA benefits from demand for GPUs that power AI training and inference, while Arm provides CPU architectures that support complementary computing workloads. NVIDIA's established AI ecosystem highlights the scale of infrastructure opportunities available to semiconductor companies.

Intel (INTC - Free Report) offers another useful comparison as Arm expands into higher-performance CPUs. Intel maintains an established presence in processors for personal computers and data centers, making its competitive positioning relevant to Arm's expansion strategy. However, Intel's manufacturing-intensive operations differ substantially from Arm's traditional intellectual property licensing model, creating different profitability and capital requirements.

Holding ARM Appears PrudentARM remains well positioned to benefit from expanding AI infrastructure investments, rising demand for efficient processors and growing adoption of advanced computing architectures. Its strengthening data-center presence and attractive royalty economics support a favorable long-term growth outlook. Nevertheless, the stock's demanding valuation already reflects considerable optimism, leaving limited protection against weaker demand, increased competition or execution challenges. The recent share-price recovery also reduces the appeal of initiating fresh positions without a more compelling valuation. Existing shareholders may benefit from maintaining exposure to the company's long-term opportunities, while prospective investors should await a better entry point. Holding ARM appears prudent.

ARM carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Nu Holdings surged 23.1% in October, fueled by Brazil's political optimism and strong earnings growth.NU's Q2 net income jumped 49% to $1.1 billion, while its customer base reached 139 million.NU trades below peers on forward sales, but rising delinquencies and U.S. expansion costs pose risks. October's sharp rebound in Nu Holdings Ltd. (NU - Free Report) reflects more than enthusiasm for digital banking. Investors are reassessing Brazil's political outlook just as the company broadens its financial services business. That combination has lifted expectations, making the durability of Nu's growth an important question.

So far in October, NU shares rose approximately 23.1%. Over the same period, SoFi Technologies (SOFI - Free Report) slipped 0.4%, while Chime Financial (CHYM - Free Report) gained 4.8%. Nu Holdings alone jumped 13% on Oct. 5, after Brazil's first-round presidential vote raised investor hopes for a more market-friendly economic direction.

The rally also follows NU's first billion-dollar quarterly profit and its September launch in the United States. Both developments point to a business that is expanding beyond its original Brazilian credit-card offering. Still, currency movements, lending risks and the costs of entering new markets could influence how much of the recent optimism translates into lasting returns.

Image Source: Zacks Investment Research

Customer Engagement and Profitability Support NU’s GrowthNU's second-quarter results showed that customer growth is turning into stronger earnings. The company served 139 million customers, and its monthly activity rate climbed to 83.5%. Average monthly revenue per active customer reached $17. Gross revenues increased 39% year over year on a currency-neutral basis to nearly $5.9 billion, while net income climbed 49% to $1.1 billion. An efficiency ratio of 19.5% also suggests that Nu Holdings is preserving its low-cost model despite continued investment.

In Brazil, which accounts for nearly 118 million customers, the opportunity increasingly lies in deepening existing relationships. The company introduced Croma in July to offer tailored services to customers between its mass-market and higher-income segments. Mexico offers another route to growth: its banking launch in August supports a broader range of products and stronger primary banking relationships. Both initiatives could raise revenue per customer without requiring user additions to maintain their earlier pace.

NU's NuFormer platform is another part of that strategy. It supports credit decisions and customer service, with AI agents handling more than 60% of support conversations in Brazil. Better data may improve efficiency and loan selection, although the benefits need testing through economic cycles.

Will International Expansion Sustain NU's Momentum?September's U.S. rollout expands the company's potential market considerably. Through partner Lead Bank, NU introduced an account initially offering 3.5% annual percentage yield and a credit card offering 1.5% cashback. Its Nu Global service targets cross-border money management in more than 35 countries, using digital-dollar and digital-euro balances. These businesses widen Nu's reach, but their contributions to profits remain uncertain.

Competition is substantial. SoFi Technologies combines digital deposits, lending and other financial products, while Chime Financial focuses on mobile-first everyday banking and payroll-linked relationships. Both aim to become their users' primary financial platform. Nu brings experience in acquiring customers cheaply, but its credit models need U.S.-specific data. Management expects 12 to 30 months to build enough local data to bring its credit models closer to the confidence levels achieved in Latin America, suggesting a measured rather than rapid expansion in lending.

NU’s Estimate Revisions Depict an Improving OutlookNU’s estimates for both 2026 and 2027 have increased over the past 60 days. The figures also suggest a year-over-year increase of 38.71% and 35.12%, respectively.

Image Source: Zacks Investment Research

NU’s Credit Quality Remains a Key RiskNu Holdings' credit portfolio grew 37% year over year to $39.4 billion in the second quarter of 2026, supported by higher credit-card and unsecured lending balances. Early-stage delinquencies improved 16 basis points to 4.8%, while 90-day-plus delinquencies increased 35 basis points to 6.9%. Although management attributed the trend largely to seasonality and loan mix, faster unsecured lending growth could raise future provisions. Encouragingly, risk-adjusted net interest margin reached 12.4%, reflecting stronger credit profitability during the period.

NU's Valuation Appears Reasonable Compared With PeersDespite October's rally, NU trades at approximately 2.84 times forward 12-month sales, below SoFi Technologies at 3.60 times and Chime Financial at 3.29 times. The discount appears reasonable considering the company's strong customer growth, improving revenue per active customer and second-quarter return on equity of 33%.

NU's exposure to Latin American currencies, Brazil's political environment and consumer credit risks may justify some valuation gap. The recent rally also reduces the margin for disappointment. Sustained earnings growth and disciplined credit performance will be crucial to supporting further gains in its shares over the coming quarters.

Valuation

Image Source: Zacks Investment Research

What Should Investors Do With NU Stock?Nu Holdings' rally has operating strength behind it. Rising engagement, improving monetization and profitable operations provide a foundation for growth in Brazil, Mexico and potentially the United States. Its forward sales multiple also looks reasonable alongside those of U.S. digital finance peers.

However, a 23% move within days has already captured considerable optimism about Brazil's political direction. Credit performance and the cost of building the U.S. business still warrant attention. For existing shareholders, keeping their current exposure while waiting for fresh earnings and evidence of international execution appears more measured than adding aggressively after such a quick advance over the coming quarters.

At present, NU carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ethena [ENA] faced rejection at $0.26 after the broader market reversed on the 4th of October.

Since then, the altcoin has remained under strong downside pressure, falling to a low of $0.21. At the time of writing, Ethena traded around $0.219, down 6.57% over the past 24 hours.

The price drop pushed ENA below its 20-day Exponential Moving Average (EMA), indicating weaker short-term momentum.

Did Ethena’s team sell into the decline? Despite ENA’s continued decline, reported team activity raised concerns about further selling. X user Nazoku alleged that the Ethena team sold $3.45 million worth of ENA on OKX.

Source: X It also described an earlier transfer of nearly 400 million tokens from a team wallet to a proxy contract. That transfer reportedly occurred five days before the post. Nazoku said tokens later passed through an intermediary wallet before sales on OKX.

Usually, projects sell tokens for various reasons, including funding operational costs. The reason for the reported sale remained unclear.

However, team selling can add supply to the market and unsettle traders, particularly when prices are already declining. Such activity could prompt other holders to take profits or reduce exposure, adding to downside pressure.

Beyond the reported team selling, Ethena [ENA] also experienced substantial protocol outflows.

According to DeFiLlama, Inflows fell to -$104.08 million on the 8th of October, indicating net capital withdrawals. Outflows had not reached these levels since July.

Source: DeFiLlama During that earlier period, ENA struggled, trading around $0.08. The latest outflows suggested that capital was leaving the protocol, although the data did not establish where it went.

Protocol withdrawals do not directly measure ENA selling. Even so, continued withdrawals could weaken confidence in the project. That left buyers facing both weaker price momentum and concerns about capital leaving Ethena.

Can ENA buyers hold the $0.20 support? ENA’s Relative Strength Index (RSI) continued declining and stood near 50.64, just above its neutral midpoint.

Source: TradingView The reading suggested that buyers’ momentum had weakened. A sustained move below 50 could further support the bearish outlook. Likewise, ENA traded below the 20-day EMA, which stood around $0.227.

If the current pressure persisted, Ethena could test the $0.20 support. Losing that level could open the door to $0.19. However, a daily close above the 20-day EMA could weaken the bearish setup and support a recovery toward $0.25.

Final Summary Ethena faced a reported $3.45 million team sale as protocol net outflows reached roughly $104 million. ENA’s weakening RSI and loss of its 20-day EMA put $0.20 support in focus.

Key Takeaways Hims & Hers is accelerating growth through weight loss, with U.S. revenues up 16% in the second quarter.International revenues surged more than 17-fold, with management targeting at least $600 million in 2026.AI is boosting engagement and cutting nonclinical support tasks by nearly 50%, aiding retention and costs. Hims & Hers Health (HIMS - Free Report) has entered the last quarter of 2026 with strong momentum from weight loss offerings, international expansion and AI-enabled care. However, gross margin pressure from changing business mix, regulatory uncertainty surrounding the FTC and peptide therapies, and the need to navigate evolving weight loss opportunities could temper its growth outlook.

Shares of this Zacks Rank #3 (Hold) company have gained 49.5% in the past six months compared with the industry's 66.7% growth and the S&P 500 Index’s 15.1% increase.

Hims & Hers, with a market capitalization of $6.9 billion, is a consumer-centric health and wellness platform.

HIMS’ bottom line is estimated to improve 19.5% over the next five years. Its earnings missed estimates in three of the trailing four quarters and beat once, delivering a negative average surprise of 94.05%.

Image Source: Zacks Investment Research

What's Driving HIMS’ Performance?Weight Loss Expansion is Reaccelerating Domestic Growth: Hims & Hers' expanded weight loss product line is becoming a major catalyst for domestic growth. The second-quarter revenues increased nearly 40% year over year to more than $753 million, while U.S. revenues accelerated 16% to $622 million. Management attributed much of the improvement to the March decision to broaden branded weight loss offerings, which helped offset revenue-recognition headwinds from moving branded products to a monthly cadence.

The category is also strategically valuable because it expands cross-selling into areas such as low testosterone and cardiovascular health. With nearly 3 million subscribers and stronger retention among newer cohorts, weight loss could support sustained growth and greater lifetime value.

International Expansion is Rapidly Increasing Addressable Market: Hims & Hers is gaining substantial scale globally, with international revenues surging more than 17-fold year over year to $131 million in the second quarter. The Eucalyptus acquisition contributed approximately $40 million, while the existing international business grew 13% sequentially on an organic basis.

The U.K., Australia and Germany have each surpassed $100 million in annualized revenues, with Canada nearing the threshold. Management expects international revenues to reach at least $600 million in 2026, while weight loss adoption remains meaningfully below U.S. levels. This provides considerable runway for category expansion, although management is prioritizing scale before maximizing profitability.

AI-Enabled Care Could Improve Retention and Lower Service Costs: Hims & Hers is beginning to demonstrate tangible operating benefits from integrating AI into its care model. Among Hers’ weight loss customers using the new AI-native experience, engagement increased sharply, with users sending three times as many messages, while AI handled approximately 80% of questions. AI reduced nonclinical support tasks by nearly 50%, creating an opportunity to lower the cost of serving subscribers.

Management also reported early evidence of stronger engagement and lower cancellation rates among participating cohorts. If these improvements scale across the broader platform, HIMS could simultaneously improve customer retention, personalize care and generate operating leverage, thereby strengthening its long-term unit economics.

Pharmaceutical Partnerships Strengthen Weight Loss Ecosystem: Hims & Hers' relationship with Novo Nordisk provides an important strategic advantage as branded weight loss treatments become more accessible. Management highlighted strong collaboration around the launch of the Wegovy pill, noting that HIMS is among the largest platforms helping consumers access the therapy.

Internationally, Eucalyptus helped generate tens of thousands of prospective patients for Wegovy's launch in certain markets. The partnership also creates opportunities to exchange insights around adherence, side effects and dosing, potentially strengthening HIMS' ability to support patients throughout their treatment journey. Relationships with pharmaceutical innovators could position HIMS as an important digital distribution and patient-access channel as additional therapies reach the market.

What’s Weighing on HIMS Stock?Gross Margin Lowers as the Business Mix Changes: Hims & Hers' rapid expansion into branded weight loss and international markets is coming with a meaningful profitability trade-off. Adjusted gross margin fell approximately 6 percentage points sequentially to 64% in the second quarter, reflecting the increasing contribution of lower-margin branded weight-loss products and international revenues.

Management explicitly expects gross margins to remain below historical levels as these categories expand. Although operating leverage helped adjusted EBITDA margin improve to 8%, the structural mix shift means revenue growth may not translate proportionately into gross-profit growth. Investors therefore need to evaluate HIMS on the basis of future customer lifetime value and scale economics rather than relying on historical margin profiles.

Working-Capital Requirements are Straining Cash Generation: The rapid expansion of branded weight-loss offerings is creating greater working-capital requirements, highlighting a financial risk associated with HIMS' new business model. Operating cash flow was negative $36 million in the second quarter, while free cash flow was negative $68 million, as short-dated receivables and inventory requirements increased.

Although management expects free cash flow to recover in the second half and has established a $400 million receivables facility, the recent transition underscores that accelerating revenue growth does not necessarily result in proportional cash generation. Continued scaling of branded therapies could require additional liquidity and working-capital investment, particularly if payment cycles lengthen or inventory requirements rise faster than expected.

Peptide Opportunity Remains Dependent on FDA Decisions: Hims & Hers has invested significantly in building infrastructure around peptide therapies, but commercialization remains contingent on FDA rulemaking. Management was encouraged by the fact that six of seven peptides advanced successfully through the FDA's PCAC process and believes the company can move quickly if they are placed on the appropriate Category 1 list.

However, the company is explicitly waiting for full and final FDA rulemaking before bringing these therapies to market. This creates uncertainty around timing, permissible offerings and potential revenue contribution. HIMS can continue expanding other wellness products in the interim, but the broader peptide opportunity remains regulatory-dependent and should not be treated as a near-term guaranteed growth driver.

Estimate TrendThe Zacks Consensus Estimate for 2026 revenues is pegged at $3.22 billion, implying growth of 37.2% from the year-ago reported figure. The consensus mark for loss per share is pinned at 60 cents, which implies a deterioration of 213.2% from the previous year’s recorded level.

In the past 30 days, HIMS’ loss per share estimate for 2026 has increased 185.7%.

Stocks to ConsiderSome better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Outset Medical (OM - Free Report) and Merit Medical Systems (MMSI - Free Report) .

Globus Medical, currently carrying a Zacks Rank #2 (Buy), reported a second-quarter 2026 adjusted EPS of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

GMED has an estimated long-term earnings growth rate of 12.4%. The company’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.9%.

Outset Medical, carrying a Zacks Rank #2 at present, reported second-quarter 2026 loss per share of 80 cents, which missed the Zacks Consensus Estimate by 26.9%. Revenues of $32 million surpassed the Zacks Consensus Estimate by 9.8%.

OM has an estimated earnings growth rate of 28.4% for 2027. OM’s earnings missed estimates in each of the trailing four quarters, with the average negative surprise being 31.63%.

Merit Medical Systems, currently carrying a Zacks Rank of 2, reported a second-quarter 2026 adjusted EPS of $1.19, which surpassed the Zacks Consensus Estimate by 24%. Revenues of $419 million beat the Zacks Consensus Estimate by 3.5%.

MMSI has an estimated earnings growth rate of 12.3% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 14.10%.

Hyperliquid Labs has finalized the largest over-the-counter (OTC) distribution in the history of its HYPE token, releasing 3.75 million HYPE valued at approximately $330 million. This token release accounts for 1.5% of HYPE’s total supply and forms a significant part of the project’s October allocation schedule.

Major team token release and OTC structureThe distribution followed a week-long unbonding period that started on September 30 and concluded on October 7. During this period, the HYPE tokens remained immobile before being made available for transfer. Of the 3.75 million tokens released, 1.875 million HYPE have been distributed to five buyers through OTC transactions, with each receiving 375,000 HYPE. The remaining 1.875 million tokens from this allocation have not yet been transferred and are pending further action later in October.

OTC transactions are typically used to execute large-scale deals without direct market exposure, reducing immediate price volatility. In this case, the tokens did not enter public exchanges, but were delivered directly to pre-selected counterparties through private agreements.

Iliensinc, a co-founder of Hyperliquid Labs, stated that these transfers are part of an OTC transaction with an institutional buyer, though further details—including the buyer’s identity and the contractual terms—remain undisclosed.

This recent HYPE OTC Distribution eclipses previous team allocations, which ranged between 140,000 and 534,000 tokens per month. The current event, at 3.75 million tokens, represents an 8.65-fold increase compared to earlier releases.

Mini dictionary: Over-the-counter (OTC) transaction, in cryptocurrency, refers to private, direct exchanges of large amounts of tokens between two parties, bypassing public markets to maintain price stability and limit slippage.

PeriodTeam Token DistributionDistribution MethodEarlier months140,000–534,000 HYPEVesting/team allocationsOctober 20233,750,000 HYPEOTC/private transferMarket impact and stakeholders’ outlookDespite concerns about possible market disruption from such a large release, the price of HYPE remained stable. Activity on the blockchain showed that after initial transfers, some tokens were restaked or moved into different wallets, indicating ongoing internal allocations or preparations for further transfers.

The delayed release of the remaining 1.875 million HYPE means only part of the October team allocation has entered circulation. Previously published vesting schedules had anticipated a nominal 9.9 million HYPE token release for the month, but the actual distribution so far falls well short, a detail seen as noteworthy by market observers.

The OTC approach may have helped mitigate sudden liquidity shocks in public markets, but key details such as sale price, payment terms, and any lock-up conditions have yet to be made public. The anonymous nature of the transaction leaves questions for both investors and market analysts.

The CEO of Hyperliquid Strategies DAT (PURR), David Schamis, publicly denied involvement as a recipient in this OTC transaction: “I’ve said this publicly a few times so I’ll say it again here: this was not us. I don’t know who it is but I’m 100% certain it’s not HypeStrat.”

Market data and ongoing developmentsCurrent on-chain data indicates strong market interest, with HYPE perpetual contract open interest standing at $1.76 billion and 24-hour trading volume reaching $575.5 million. At present, HYPE trades at $87.30.

Market participants are closely watching the remaining scheduled transfers for October, as the pace and scale of further distributions could influence both price and liquidity in the short term. The difference between the 9.9 million HYPE in the vesting schedule and the 3.75 million released so far remains under discussion among HYPE token holders and investors.

CoreWeave carries a debt load that would make most investors close the browser tab, yet one investor keeps hitting the buy button after every earnings report. Here is the specific logic behind that conviction.

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

I keep buying more CoreWeave (NASDAQ:CRWV), and the company’s August earnings gave me another reason. The stock sits in a high-beta growth segment of my portfolio, kept apart from income holdings that fund my retirement. No other stock in that segment has seen as many repeat buys from me.

Why I Keep Coming Back to CoreWeave CoreWeave rents compute for AI, and customers want more than the company can build. On the Q2 call, management said: “Demand continues to exceed supply across sectors, geographies, and generations of infrastructure.” I own a seller of scarce input to the most capital-hungry buildout I have followed, and customers sign contracts before capacity exists.

Three Data Points Behind My Conviction First, growth has held steady as the company grew. Q2 2026 revenue reached $2.58 billion, up 112.3% YoY, after Q1 growth of 111.69% and Q4 2025 growth of 110.32%. Full-year 2026 guidance is $12.4 billion to $13.2 billion, versus $5.131B in 2025.

Second, backlog provides revenue visibility. The backlog was ~$104 billion as of June 30, 2026, with more than $25B of net new customer commitments added in early Q3. These include a $21B Meta commitment from Meta Platforms (NASDAQ:META | META Price Prediction), a multi-year Anthropic agreement, and enterprises like Caterpillar (NYSE:CAT) and Databricks.

Third, operating leverage is showing. Adjusted EBITDA doubled to $1,510M at 59% margin. Operating cash flow turned positive at $679M, versus $-251M a year earlier. Prices rose about 25% across SKUs in July, with contribution margins expected 5 to 10 percentage points above recent deals.

Why My Money Goes Here Instead of NVIDIA or the Hyperscalers NVIDIA (NASDAQ:NVDA) is the obvious alternative. NVIDIA invested $2B in CoreWeave Class A stock and expanded the partnership to build more than 5 GW of AI factories by 2030. Through CoreWeave I get exposure to NVIDIA’s chip cycle plus the rental income those chips produce.

Hyperscalers treat AI as one piece of a larger business. CoreWeave is a pure play with total cost of ownership estimated up to 47% lower than the average hyperscaler’s. The power, cooling, and networking suppliers behind this expansion are the subject of a free report we put together on seven AI infrastructure names that aren’t chipmakers, here.

Balance Sheet Risk I Refuse to Ignore Debt is the real danger. The debt-to-equity ratio stands at 8.94. Interest expense reached $640M in Q2, up from $267M a year earlier, with Q3 guidance of $860 million to $940 million. Q2 free cash flow was $-5.743B. The stock has fallen 31.34% over the past year. If capital markets close, this model will feel it.

The case holds because debt funds infrastructure with customers already attached. More than 50% of backlog is linked to contracts where delivery has started. Management also cut weighted average cost of debt by almost 300 basis points. I manage risk by sizing the position as a sleeve.

What Keeps My Buy Button Active Active power reached 1.5 GW, with year-end target raised to more than 1.85 gigawatts. The longer-term goal is at least 8 gigawatts by 2030. Expected exit 2026 annualized run-rate revenue is $18.5 billion to $19.5 billion. As long as customers sign contracts faster than CoreWeave switches on power, I will keep adding.

Contact [email protected] for any questions or corrections.

About 35% of all Bitcoin options open interest on Deribit is tied to a single date: October 30. That works out to a notional value of approximately $10.7 to $11.3 billion, all scheduled to settle at 08:00 UTC that morning.

For context, that makes it the largest single expiry cluster on the platform. It is bigger than the December 25 contracts, which usually get top billing as the holiday blockbuster of the options calendar.

What traders are betting on The single largest strike concentration is the October 30 $95,000 call, which holds roughly 24,000 BTC of open interest.

With Bitcoin trading near $86,000, that strike alone represents roughly $2.1 billion in notional value. A call option pays off if the price rises above a set level, so a crowd at $95,000 is a crowd expecting a meaningful move higher.

The put-to-call ratio sits somewhere between 0.4 and 0.51, meaning there are roughly two calls for every put on this expiry.

For the October 30 expiry, max-pain levels are identified at around $78,000 to $79,000. That is below where Bitcoin currently trades, which creates an awkward gap between where buyers want the price to go and where sellers would profit most.

How big is this, really Total Bitcoin options open interest on Deribit has been reported in the $29 to $36 billion range. Against that backdrop, a single date holding more than a third of the total is a lot of eggs in one basket.

The buildup follows a run of large expiries that recently cleared, including those in late September. Once those contracts rolled off, traders began repositioning, and much of that fresh money appears to have landed on October 30.

What this means for the market When a huge block of calls sits at a strike like $95,000, market makers who sell options may need to buy more Bitcoin if the price climbs toward that level. That buying can, in theory, push prices further in the same direction. The process can also run in reverse if prices slip and hedges are unwound.

The research flags these potential gamma-hedging flows, along with alignment between options and futures positioning, as factors that may influence how Bitcoin trades into the expiry.

A market with relatively few protective bets is a market that may not be well cushioned if prices turn lower. Without much downside insurance in place, a sharp move against the crowd could force traders to react quickly, which may amplify volatility rather than dampen it.

Bitcoin near $86,000 sits well above the $78,000 to $79,000 max-pain zone. The tension between a crowd of upside bets and a max-pain level several thousand dollars lower is the sort of setup that keeps options desks glued to their screens.

A few things are worth tracking as the date approaches. First, whether open interest at the $95,000 strike keeps growing or starts to thin out as traders take profits or roll positions forward. Second, whether the put-to-call ratio stays near its current 0.4 to 0.51 range. Third, how futures positioning evolves alongside the options book, as alignment between the two could reinforce whichever direction the market picks.

Once roughly a third of Deribit’s open interest rolls off in a single morning, the hedges tied to those contracts no longer need to be maintained, and the December 25 expiry would then become the next big date on the calendar.

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

TL;DR

Ripple moved 200M XRP between its own addresses, then sent 20M XRP to a new address.The XRPL amendment PermissionDelegationV1_1 goes live today at 21:25 UTC, letting firms assign up to 10 roles to third-party apps without exposing master keys.BTC fell to $82,165, and liquidations reached $395.78M.Spot ETFs saw net outflows of $487.37M from BTC funds and $160.84M from ETH funds (SoSoValue).ESMA requires EU crypto firms to close positions in non-MiCA-compliant stablecoins by January 8, 2027.The cryptocurrency market continues its correction, fueled by fresh U.S. macroeconomic data. Initial jobless claims fell to 197,000. For the Federal Reserve, this is a sign of a stable labor market that reduces the likelihood of further interest rate cuts, prompting investors to reduce their exposure to risk assets.

According to CoinGlass, the daily volume of forced liquidations of leveraged positions stands at $395.78 million, of which $344.49 million comes from long positions.

HOT Stories

Market sentiment is further pressured by historical memory: the market is approaching the anniversary of October 11, 2025, when the U.S.-China trade conflict triggered a record $19.16 billion in liquidations in a single day.

Cryptocurrency market capitalization heat map highlighting Bitcoin, Ethereum, and major altcoin price performance on October 8, 2026, Source: CoinMarketCapCaution among major players is driving funds out of spot crypto funds. According to SoSoValue data, BTC ETFs recorded net outflows of $487.37 million over the past 24 hours, while ETH ETFs lost $160.84 million. Selling pressure is also hitting funds based on Hyperliquid (HYPE, -$32.52 million), Solana (SOL, -$5.45 million) and XRP (-$2.61 million).

You Might Also Like

An additional negative factor comes from requirements imposed by European regulator ESMA. The agency is requiring EU crypto companies to fully close positions in all stablecoins that do not comply with MiCA rules by January 8, 2027.

Outside the speculative sector, however, blockchain infrastructure continues to develop: the capitalization of tokenized real-world assets (RWA) remains at $65 billion, while the IMF notes sustained interest in 24/7 stock trading on blockchain.

Ripple's moves: Where are millions of XRP going?A major movement of capital has been recorded on the XRP Ledger. Blockchain data detected a transaction involving 200,000,000 XRP, executed at 09:37:31 UTC. The funds moved between internal addresses, from Ripple (1) to the balance of Ripple (50). Immediately afterward, Ripple split the amount, transferring 20,000,000 XRP to a new, unknown address.

One obvious theory is that the company is building liquidity for prime brokerage operations in the U.S. market. The $1.25 billion acquisition of Hidden Road and the launch of Ripple Prime have turned the company into a counterparty in the $256 billion leveraged ETF market, where Ripple earns fees of up to 8% annually, including from funds holding SanDisk shares.

The capital transfer coincides with preparations for the activation of the PermissionDelegationV1_1 protocol amendment, which goes live today at 21:25 UTC. The update allows corporate account owners to use DelegateSet transactions to assign up to 10 specific roles, such as compliance or internal audit, to third-party applications or subsidiary teams without exposing the wallet's private master keys.

XRP Ledger explorer block explorer showing a successful 200,000,000 XRP payment from Ripple (1) to Ripple (50) on October 8, 2026, Source: XRPScanWith the development of AI tools, this type of key isolation is becoming a standard security requirement.

You Might Also Like

The technological changes are accompanied by commercial expansion. The Wall Street Journal reports that Ripple is moving into the territory of traditional custody and brokerage services. Infrastructure provider Paxos is adding XRP to its regulated platform, opening the asset to clients such as PayPal and Charles Schwab.

XRP currently has a $95 billion market capitalization across 8.1 million wallets, while the company's native stablecoin, RLUSD, has surpassed a $2.5 billion market cap, preparing to capture a share of the European market following the ESMA directive.

‼️Permission Delegation will be activated in 10h on the XRP Ledger! New era for institutional account access management. This will open the doors to a lot of interesting players. This feature allows especially treasury and asset issuers to delegate XRP account specific jobs like compliance to designated teams, without sharing the account keys with them. Big folks. Very big.

— Vet (@Vet_X0) October 8, 2026 The infrastructure updates are complemented by the fresh release of Ripple Custody 1.43, which adds support for Canton Coin, while the launch of Evernorth's XRPN treasury instrument on Nasdaq has been postponed to October 12.

Crypto market news: AI threat to encryption and the industry's responseThe main theme on October 8, 2026, is the progress of artificial intelligence in mathematics, which is raising practical concerns among blockchain developers. While Google Cloud is rolling out its enterprise AI assistant Gemini Agent, OpenAI has published 722 complex mathematical manuscripts generated by an experimental model.

Ethereum Foundation researcher Justin Drake warns of a risk that the ECDSA signature algorithm could be effectively cracked within months due to OpenAI's mathematical breakthrough.

In response, Ethereum creator Vitalik Buterin recommends that major holders use addresses with no outgoing transactions to conceal their public keys on-chain and gradually transition to hash-based cryptography.

Amid these discussions, a Satoshi Nakamoto-era address that had been dormant for more than 16 years became active: an ancient miner transferred 100 BTC (~$8.33 million) mined back in July 2010.

CZ Binance quote retweeting Vitalik Buterin's post about AI risks to cryptography on October 8, 2026. Source: @cz_binance / X. You Might Also Like

At the same time, the industry is responding to security challenges and developing new infrastructure formats:

Starknet's maneuver: The major L2 network says it plans to transition into an independent L1 blockchain to enable autonomous implementation of quantum- and AI-resistant protection by 2027, without waiting for lengthy upgrades on Ethereum.Solana user boom: The Solana network has grown 124% since the beginning of September, according to Santiment, while in late October, Samsung is set to integrate USDC transfers across the Solana and Sui networks directly into Samsung Wallet for 82 million Galaxy devices in the U.S.Real estate-backed lending: Real-world asset tokenization is reaching practical use. On RNT Lend, a platform built with Aave on Polygon, total value locked has surpassed $20 million, while loans backed by real estate have reached $9 million.79th Vault incident: On the negative side, CertiK analysts reported a likely exploit of the DeFi project 79th Vault, resulting in $12.5 million in losses.Market outlook: What investors should prepare forThe daily capital outflow from ETFs, totaling $689 million, looks painful, but technical and intermarket analysis shows that the long-term uptrend remains intact. Bitcoin's local drop to $82,165 is a textbook technical retest of the broken descending trendline of the annual channel from above, helping to relieve overbought conditions.

Dynamic support is located at $77,086 (50 MA), while the foundation of the global trend is the 200 MA at around $66,509.

The Bitcoin-to-gold ratio chart also confirms buyer strength: BTC has held above macro support and is testing resistance, demonstrating that large capital continues to systematically choose the scarce digital asset as its primary hedge.

Meanwhile, Ethereum at $2,527.57 remains squeezed between resistance at the 200-week MA ($2,536.40) and support at the 50 MA ($2,123.05), indicating a phase of liquidity accumulation.

Intra-day price performance comparison chart for BTCUSD, ETHUSD, and OTHERS index on October 8, 2026, Source: TradingViewFor XRP/USD, the current correction to $1.3942 represents a healthy retest of the upper boundary of the broken multi-month descending wedge and the long-term moving-average cluster in the $1.26–$1.27 range.

The global reversal is also confirmed by the altcoin market capitalization index excluding the top 10 assets (OTHERS), which has turned the former heavy resistance around $206 billion into solid support, opening the way for a medium-term rally.

Key checkpoints for the near term:

October 9: Activation of the BatchV1_1 amendment on the XRPL to launch batch transactions and optimize the throughput of the Ripple network.October 12: Official launch of Evernorth's XRPN fund on Nasdaq, which will become an important marker of institutional demand for XRP in the U.S.BTC support: Monitoring whether Bitcoin holds the 50-week moving average support at $77,086.ETF flows: A slowdown in capital outflows from spot BTC and ETH funds as a signal that the local correction may be nearing its end.Late October: Launch of free USDC transfers in Samsung Wallet across 82 million Galaxy devices in the U.S., which will help determine the fundamental strength of the bullish trend in Solana and Sui. You Might Also Like

Crypto Eri Questions 50,000-XRP Yield Lock as Flare and Doppler Expand Alternatives.

XRP commentator Crypto Eri has questioned why a holder would commit 50,000 XRP for six months to generate yield while also paying for an additional management layer. Her criticism comes as XRP holders gain access to several alternatives with different custody models, withdrawal periods and sources of return.

I can’t see any reason why you would agree to *Lock Up* your 50,000 XRP for 6 MONTHS to earn yield with an additional middleman layer haircut, with the choices available. DYOR.

— 🌸Eri ~ Carpe Diem (@sentosumosaba) October 8, 2026

The 50,000-XRP figure points most closely to DAG Wealth, although the offering is not an on-chain protocol. DAG lists 50,000 XRP—or $250,000 in qualifying assets—as its standard managed-account minimum.

However, public information does not fully confirm the arrangement Eri described. Neither DAG’s website nor the launch material reviewed for this report states that clients must lock XRP for six months.

The Likely Product Behind Eri’s Criticism The strongest match is DAG Wealth’s Parataxis Systematic Trading Strategy, launched in September.

Under that structure, eligible clients contribute XRP to a separately managed account held with Anchorage Digital.

The XRP remains in the client’s name and serves as collateral while Parataxis Capital Management trades on the client’s behalf. Any gains or losses return to the same account.

This is a three-party arrangement involving the investment adviser, qualified custodian and external trading manager. Eri’s reference to an “additional middleman layer haircut” appears to concern the effect of professional fees on the holder’s net return.

Still, the exact fee schedule is not public. DAG directs prospective clients to its Form ADV and individual agreements for fees, conflicts and other terms.

The 50,000-XRP threshold is also the minimum for the broader DAG Wealth relationship, not proof that every client must place the full amount into this one strategy.

DAG has also offered XRP-focused Income and Growth Funds, but its public announcement does not disclose a six-month lock or detailed fee structure.

The precise product behind Eri’s six-month reference therefore remains unconfirmed from public materials.

Flare Offers On-Chain XRP Yield With Different Risks Flare takes a different route by representing XRP as FXRP, which can be used across lending, liquidity and structured-yield applications.

That distinction matters because XRP itself does not generate native staking rewards. Returns must come from another activity, such as lending, options, market-neutral trading, liquidity provision or underwriting risk.

One option is Firelight, which became fully operational this week. Users stake FXRP and receive stXRP while their capital supports DeFi cover markets.

Current documentation places the unstaking period at one to two days, although this is expected to expand to roughly 30–60 days when 30-day coverage periods take effect.

The shorter exit window does not make Firelight risk-free. Once cover is active, staked capital can be slashed if a validated claim exceeds the protocol’s first-loss buffer.

Flare also supports curated vaults accessible through an XRPL wallet. The earnXRP vault uses lending, liquidity and structured strategies, with withdrawals typically settling within one or two days rather than through a fixed six-month commitment.

The trade-off is exposure to FXRP infrastructure, smart contracts and the underlying strategies selected by the vault manager.

Doppler Finance Uses Native XRP but Remains CeDeFi Doppler Finance allows users to deposit native XRP directly from the XRP Ledger.

Its XRP Vault automatically compounds returns and imposes a seven-day withdrawal period. Doppler says it charges no platform fee for deposits or withdrawals beyond network costs.

Yet Doppler is not a purely on-chain alternative. Its documentation says the current vault relies on institutional custody, secure delegation and selected centralized platforms to generate CeDeFi and real-world-asset yield. No on-chain yield is currently being generated by the vault.

That introduces custody, counterparty and principal-loss risks. The XRP Vault is also unavailable to users in the United States and other restricted jurisdictions.

Every XRP Yield Route Has a Cost Eri’s broader argument centers on liquidity and the return left after every cost is deducted.

The DAG structure offers professional management and qualified custody, but introduces advisory, custody and trading-manager layers.

Flare provides transparent on-chain routes and shorter exits, while adding smart-contract, bridge and, in Firelight’s case, slashing risks. Doppler offers a seven-day exit using native XRP, but its yield currently depends on custodians and centralized counterparties.

XRPL’s built-in AMM is another option. Liquidity providers can earn trading fees without giving a manager discretion over the position, but they must supply paired assets and accept impermanent-loss exposure.

No XRP product generates yield from nothing. A meaningful comparison requires five figures that are not always presented together: net return after fees, source of the yield, custody arrangement, withdrawal time and the conditions under which principal can be lost.

Until the six-month term and complete fee schedule behind the product Eri referenced are made public, its net result cannot be compared cleanly with Flare, Doppler or native XRPL liquidity options.

Evernorth, an XRP-focused treasury entity backed by Japan-based financial conglomerate SBI Group, has drawn the attention of the crypto sector with its declared strategy to actively increase the value of its XRP holdings. The plan, documented in official SBI slides and highlighted by crypto researcher SMQKE, marks a distinct approach compared to typical corporate assets that are simply held without further action.

Strategic investment and active measuresSBI Group invested $200 million in Evernorth through a Private Investment in Public Equity (PIPE) deal. SMQKE, a well-known independent crypto researcher, emphasized that Evernorth is not passively storing XRP but has committed to implementing strategies aimed at asset growth. These strategies include providing institutional lending and utilizing decentralized finance (DeFi) protocols.

According to official SBI materials, Evernorth’s model involves lending out XRP to institutional investors and deploying assets in DeFi operations to generate returns. Unlike typical treasury vehicles, which accumulate digital assets and await price appreciation, Evernorth intends to reinvest yields to further expand its XRP position.

Mini dictionary: SBI Group is a Japanese financial services group with major operations in banking, asset management, and digital assets, recognized for its leadership in crypto investments across Asia.

SMQKE noted that these steps by Evernorth are directly documented in SBI’s publicly released reports. The strategy is seen as a deliberate attempt to enhance Evernorth’s overall exposure to XRP and to influence the value trajectory of its significant holdings.

Digital Asset Investor, a prominent figure in the XRP community, pointed out that Evernorth is not merely forming a treasury to hold digital assets. He remarked, “You’re not creating an XRP treasury unless you’re expecting the value of XRP to go up, and expecting to do everything you can to make the value go up.”

You’re not creating an XRP treasury unless you’re expecting the value of XRP to go up, and expecting to do everything you can to make the value go up.

Evernorth currently holds 473 million XRP tokens, placing it among the largest public XRP treasury holders worldwide. Its strategy of deploying active measures, rather than solely accumulating tokens, is viewed within the community as a strong signal of intent regarding market participation.

According to publicly available information, yields generated from institutional lending and DeFi will be reinvested into acquiring additional XRP, potentially amplifying Evernorth’s influence as a major corporate holder.

AspectEvernorthTypical Corporate TreasuryAsset strategyActive (lending, DeFi, reinvesting)Passive (hold only)XRP holdings473 millionVaries, generally smallerFunding$200 million (SBI PIPE deal)VariesNasdaq listing and timelineEvernorth is scheduled to debut on the Nasdaq under the ticker XRPN on or around October 12. A brief delay has shifted the closing of its transaction to approximately October 9, with no anticipated impact on the listing process. The recent shareholder vote on September 30 approved the merger, clearing the way for the public launch.

Upon trading commencement, both retail and institutional investors are expected to access regulated exposure to XRP through standard brokerage accounts. The combined effect of Evernorth’s soon-to-be-available security and its active asset management is providing the XRP community with a concrete timeline and a strategic institutional mandate.

The combination of the imminent Nasdaq listing and Evernorth’s documented active strategy offers the XRP community a clear mandate and timeline as trading begins under the new XRPN ticker.

Dogecoin (DOGE) price has dropped below a crucial support level amid a surge in selling pressure. At press time, Dogecoin traded at $0.086 after a 1.82% decline in 24 hours.

Dogecoin Spot Outflows Surge Amid Intense Selling Data from CoinGlass shows that Dogecoin has amassed $55 million in spot outflows in the four days leading up to October 8.

These outflows suggest that the selling pressure is outweighing the buying pressure as the crypto market sentiment continues to weaken after Bitcoin (BTC) fell below $84,000 following the release of hawkish FOMC minutes.

(Source: CoinGlass) Besides spot selling, long liquidations have also fuelled the drop in Dogecoin price to the lowest level in more than two weeks.

Per CoinGlass data, Dogecoin has recorded $16 million in long liquidations within two days.

The added pressure from long liquidations also comes despite weakening demand for Dogecoin ETFs. Data from SoSoValue shows that Dogecoin ETFs have not recorded any inflows in October.

Open Interest Falls Despite Aggressive Short Positioning Data from CoinGlass shows that Dogecoin’s open interest has dropped from $1.53 billion to $1.38 billion. This drop suggests reduced demand for futures positions on Dogecoin as traders minimize their risks.

(Source: CoinGlass) However, the recent drop in Dogecoin price has also attracted short sellers betting that the top meme coin will edge lower.

Dogecoin’s long/short reading continues to fall further below 1 and stood at 0.89 at the time of writing as traders continued to open more short accounts.

Still, the Binance futures market shows a long/short reading of 2.41, as long accounts on Dogecoin on the exchange outweigh the short-selling accounts.

On OKX, there are four times more long accounts than short accounts on Dogecoin.

Dogecoin Price Prediction as Key Support Breaks Dogecoin price has dropped below the support at the 61.8% Fib of $0.092, as seen on the one-day chart.

The meme coin now eyes a retest of the next support at $0.083, with a breach of this level set to fuel the downtrend towards $0.078.

The RSI reading of 42 shows that the future Dogecoin price outlook is in bearish territory. This RSI has also yet to enter the oversold level below 30, suggesting that there is still room for Dogecoin’s price to fall further.

(Source: TradingView) However, the ADX line that is tipping south with a reading of 25 suggests that the downtrend is weak despite Dogecoin price falling to a two-week low.

If sellers become exhausted, Dogecoin price will have to break resistance at the 61.8% Fib to confirm the return of a strong uptrend.

The Cardano Foundation is moving fast to make .ada an official internet domain and has moved to the next stage of the ICANN application process.

ICANN published the list of applications moving forward on October 7, confirming that Cardano’s .ada application is included.

If approved, .ada would create a direct link between Cardano’s blockchain ecosystem and the traditional internet. The Foundation said the application follows a Cardano community vote that received about 75% support, after which it moved forward with the application for the wider Cardano ecosystem.

.ada to Become a Real Internet Domain Importantly, .ada would not just be another blockchain naming service. Upon approval, it would become an official internet domain, similar to .com, .org, and .xyz. Cardano’s application is part of ICANN’s first major round of new internet domains since 2012.

The 2026 application round includes other Web3 domains such as .sol, .ethereum, .btc and .bitcoin, as well as applications from companies like OpenAI, Meta and Anthropic. For Cardano holders, getting .ada gives the ecosystem a direct place in the traditional internet’s domain system.

Cardano Sees New Uses for .ada Notably, the Cardano Foundation said an approved .ada domain creates new opportunities for users and developers. One possible use is simpler wallet addresses. Instead of using long, complicated blockchain addresses, users will use easy-to-read names.

The Foundation also mentioned linking .ada domains with digital identity tools such as Veridian. Another possibility is tokenizing domains, which allows people to manage internet domain names using blockchain technology. Overall, the goal is to connect the traditional internet (Web2) with Cardano’s blockchain-based Web3 ecosystem.

Our .ada application is advancing to the next phase of the @ICANN Generic Top-Level Domain (gTLD) Program.

If approved, the .ada domain would bring Cardano into the global internet address system, same as .com or .org.

The application follows a Governance Action passed with… pic.twitter.com/9rqUZCYhnO

— Cardano Foundation (@Cardano_CF) October 8, 2026

The .ada Application Not Yet Approved While the .ada application has moved forward in the ICANN process, it has not been approved yet. ICANN will now review the application, including Cardano’s technical, financial, and operational ability to run the domain.

Cardano still has several steps to complete before .ada can become an active internet domain. ICANN expects new domains from this application round to launch between 2028 and 2030, depending on how each application progresses.

The Cardano Foundation has also opened registration for community members, developers, and businesses who want updates or are interested in getting a .ada domain.

Overall, this is a major step for Cardano. A proposal supported by the community is now going through the official process to become part of the internet’s global domain system.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Cardano has achieved a new record for its transaction throughput in a single block, another incredible milestone for the network's performance.

According to Chainspect, Cardano broke its own single-block TPS record, reaching  436 TPS on October 7, up from a figure of 345 TPS recorded earlier that same day.

"A record, then a bigger one, all in one day," Chainspect noted. The back-to-back milestones highlight the Cardano network's ability to handle significant bursts of transaction activity.

HOT Stories

⚡ @Cardano broke its own single-block TPS record. 436 TPS on October 7, up from 345 TPS earlier that day. A record, then a bigger one, all in one day. 📊 https://t.co/C2NFatKYPM https://t.co/bdvQ7EbhtH

— Chainspect (@chainspect_app) October 8, 2026 Cardano's upcoming Ouroboros Leios protocol is expected to supercharge the network's scalability, targeting 1,000 transactions per second (TPS).

You Might Also Like

Additionally, Chainspect reported that Cardano reached $70,000 in monthly revenue, higher than the previous month, adding that Cardano's monthly numbers looked good.

Cardano returns to spotlight amid fresh developmentsAccording to Santiment, Cardano's social buzz recently reached yearly highs with fresh project developments serving as a catalyst. RealFi launched on Cardano mainnet on October 1, while anticipation around Leios, Fireblocks support, and new institutional integrations helped to drive Cardano's biggest discussion spike of the year.

You Might Also Like

The last 24 hours have seen a string of developments for the Cardano blockchain. The Cardano Foundation recently announced that its .ada application is advancing to the next phase of the Internet Corporation for Assigned Names and Numbers (ICANN) New Generic Top-Level Domain (gTLD) Program. The Cardano Foundation's application initiative follows a Governance Action that passed with nearly 75% support from the Cardano community, with the Foundation pursuing .ada for the ecosystem's benefit.

If approved, the .ada gTLD will unlock several opportunities for the Cardano ecosystem, including ensuring a competitive digital presence for Cardano and enabling innovations for Cardano.

In separate news, Cardano is now supported in the Open Wallet Standard (OWS), starting with the v1.4.3 release. OWS is open-source software that lets applications and AI agents keep wallets on the machine they run on and sign through one interface across many blockchains.

Cardano's programmable token standard, CIP-0113, is live on mainnet, allowing issuers of stablecoins and other regulated assets to build compliance rules directly into native Cardano tokens. 

Key Takeaways OSCR's ACA marketplace growth offers opportunities, but sustainable profits hinge on cost discipline.OSCR plans to enter over 150 additional metro areas by 2027, expanding its geographic reach & customer base.OSCR shares have surged 130% year to date, but its 4.94 price-to-book ratio exceeds the industry's 2.64. Oscar Health’s (OSCR - Free Report) growth prospects remain closely linked to the expansion of the Affordable Care Act (ACA) marketplace. However, the key question is whether its recent momentum reflects a lasting competitive advantage or continued reliance on favorable policy and market conditions.

Enhanced premium subsidies have historically improved affordability and supported marketplace enrollment, enabling Oscar to attract members through its technology-driven platform, consumer-focused offerings and expanding provider relationships. A growing membership base could strengthen operating leverage by spreading technology and administrative expenses across more customers. Disciplined pricing and improved medical-cost management could further help convert enrollment gains into sustainable profitability.

Oscar’s expansion plans also offer meaningful growth opportunities. The company aims to enter more than 150 additional metropolitan statistical areas by 2027, broadening its geographic footprint and customer reach. Its strategy aligns with healthcare trends such as digitalization, rising demand for personalized services and increasing emphasis on affordable coverage.

Nevertheless, Oscar’s significant ACA exposure presents a concentration risk. Changes in subsidy policies could weaken affordability, increase member churn and alter the membership risk profile, potentially putting pressure on underwriting margins. Rising medical utilization and pricing missteps could further undermine profitability.

Ultimately, Oscar’s long-term growth sustainability will depend on its ability to translate membership expansion into consistent earnings through disciplined underwriting, cost efficiency and technological advantages, rather than relying primarily on supportive policies and favorable industry conditions.

What About Peers?Molina Healthcare (MOH - Free Report) is well positioned to benefit from several long-term trends supporting government-sponsored healthcare.  As of June 30, 2026, total membership of Molina Healthcare decreased 14.3% year over year to around 4.9 million. Rising healthcare utilization, an aging U.S. population and a strategic shift toward D-SNPs should support sustained membership growth for Molina Healthcare.

Centene Corporation (CNC - Free Report) has shifted its strategy from prioritizing membership growth to improving earnings quality through disciplined pricing and portfolio optimization.  Centene continues to benefit from a large and diversified membership base supported by contract wins and expansion in attractive government-sponsored programs. Centene is also shifting toward higher-quality membership, including growing PDP and dual-eligible Medicare exposure.

OSCR’s Price PerformanceShares of Oscar Health have gained 130.3% year to date, outperforming the industry.

Image Source: Zacks Investment Research

OSCR’s Expensive ValuationThe stock is overvalued compared with its industry. It is currently trading at a price-to-book multiple of 4.94, higher than the industry average of 2.64. 

Image Source: Zacks Investment Research

Estimate Movement for OSCRThe Zacks Consensus Estimate for OSCR’s third-quarter and fourth-quarter 2026 bottom line witnessed positive movement in the last 30 days. The same holds true for 2026 and 2027. 
 

Image Source: Zacks Investment Research

SpaceX SPCX stock fell 2.5% Thursday as investors looked ahead to another major lockup expiration that could increase the supply of shares available for trading.

Up to 328.4 million shares are scheduled to become eligible for sale on October 9, giving existing shareholders the option to cash out.

The stock’s decline broadly tracked the wider market, with investors also monitoring elevated Treasury yields and oil prices.

The S&P 500 fell 0.4%, while the Nasdaq Composite declined 0.6%. The Dow Jones Industrial Average dropped 201 points, or 0.4%.

The October 9 release is the latest in a series of staggered SpaceX lockup expirations following the company’s June IPO.

Rather than using a single 180-day expiration, SpaceX structured its offering around multiple dates at which different groups of shareholders can become eligible to sell.

That structure has limited the amount of stock entering the market at any one time, but it has also created a recurring source of uncertainty for investors.

The upcoming release does not mean that all eligible shareholders will sell.

However, the prospect of additional supply can weigh on the stock as investors assess whether early shareholders will take profits following SpaceX’s gains since its August low.

The October 9 unlock also comes as investors assess whether SpaceX’s rapid expansion into artificial intelligence computing can justify its valuation.

Erste Group analyst Stephan Lingnau initiated coverage of SpaceX with a Hold rating but did not assign a price target.

Lingnau said SpaceX’s “high EV/EBIT multiple” already reflects strong expectations for its AI business.

He expects SpaceX to reach a $100 billion annualized revenue run rate by the end of 2026, with cloud agreements involving AI companies such as Anthropic and Alphabet driving a significant portion of the growth.

Lingnau expects AI to become SpaceX’s largest revenue contributor as early as this year.

He also expects the highly profitable Starlink business to offset losses from the company’s aerospace and AI operations.

The analyst said SpaceX’s valuation assumes its AI business will “reach breakeven in the near term,” followed by a “significant increase in the operating margin.”

Other analysts remain more optimistic.

Earlier this week, Morgan Stanley analyst Adam Jonas reiterated his Buy rating and $300 price target.

Jonas said SpaceX looks “cheap and getting cheaper” relative to its growth prospects.

He also said investor interest in the company remains relatively quiet but argued that its growth potential makes the stock attractive.

In his view, concerns surrounding Grok and Starlink Mobile are already reflected in the valuation.

Goldman Sachs analyst Eric Sheridan also raised his SpaceX price target to $230 from $220 while maintaining a Buy rating.

Sheridan said the higher target reflects greater confidence in SpaceX’s AI business.

He increased his forecasts for AI capacity and revenue and expects margins to improve as the business scales.

Separately, President Donald Trump disclosed an investment of $1 million to $5 million in SpaceX senior unsecured notes, according to a newly released financial disclosure.

The notes carry a 5.35% interest rate and mature in July 2031.

The disclosure showed that Trump made the SpaceX debt investment two days before signing a policy memorandum aimed at expanding US commercial space transportation.

Trump’s disclosure also showed more than 500 securities transactions during August, including an investment of as much as $25 million in Meta stock.

The SpaceX investment is in the company’s debt rather than its equity, meaning it does not directly increase his ownership stake in the publicly traded stock.

SpaceX is also facing uncertainty around Starlink’s planned expansion into India, a potentially significant market for the satellite internet business.

Elon Musk has accused influential Indian telecommunications interests of obstructing Starlink’s entry to protect their existing market positions.

Indian government officials have rejected those accusations and said the approval process treats competing providers fairly.

Starlink has secured an initial license, but additional security clearances and spectrum allocation are still required before commercial operations can begin.

Further delays could postpone revenue opportunities in a market with a large population of consumers lacking reliable broadband access.

Apple is preparing to expand its presence in the smart home market, with the company set to unveil a new range of devices at an event in New York City next week.

Apple has announced an event for October 13 titled "Welcome Home".

The event is expected to feature a new smart home hub with a screen, an updated HomePod mini, and a refreshed Apple TV set-top box, said a Bloomberg News report.

Apple could also introduce smart home products developed with LG Electronics, including a doorbell, cameras, a smart lock and a thermostat.

The expansion comes as Apple looks to revive its HomeKit smart home platform while using its Siri AI assistant to strengthen its ecosystem.

At the same time, analysts remain focused on the potential for artificial intelligence to drive device upgrades and services revenue.

Apple stock AAPL gained 0.75% on Thursday.

The products developed with LG will carry the South Korean company’s brand, with LG handling manufacturing and product support.

The lineup is expected to include the LG Video Doorbell Wired, Floodlight Cam, Outdoor Cam Plug-In, Indoor Cam Plug-In, Smart Deadbolt Lock, Smart Thermostat and Temperature Sensor.

The products are not expected to reach consumers for at least several months, as development has lagged behind Apple’s own devices.

LG has recently sought regulatory approvals for the products, including filings with the US Federal Communications Commission and UL Solutions.

The filings include product names, specifications, and other details, while LG has requested confidentiality for photographs and more precise information until early next year.

Many of the devices support Wi-Fi and Bluetooth, as well as Thread and Matter, smart home protocols used by Apple and other technology companies.

The smart lock also supports ultra-wideband technology, which can enable automatic unlocking when users approach a door.

The planned ecosystem would place Apple and LG in closer competition with established smart home offerings from Amazon’s Ring and Alphabet’s Google Nest.

Apple launched HomeKit in 2014, but the platform has gained less traction than competing smart home ecosystems from Amazon and Google.

The new devices are part of a broader effort to reboot Apple's smart home strategy.

Apple is also planning additional products, including a privacy-focused home monitoring device, a smart home hub with a screen attached to a robotic arm, and an in-home security monitoring service.

The company is expected to use Siri and AI as part of this strategy.

The push also comes as Apple explores ways to integrate AI across its broader product ecosystem.

Dan Ives, an analyst at Wedbush, said Apple's AI strategy could add about $75 per share to the company's valuation as AI helps drive device upgrades and increase services revenue.

“Apple is moving into a new stage of its ecosystem story,” Ives said, adding that AI could eventually account for more than 15% of Services revenue.

Ives has an Outperform rating on Apple with a $400 price target.

He expects the iPhone 18 upgrade cycle to support the company over the next several quarters, noting that about 375 million iPhones have not been upgraded in more than four years.

He also expects Apple's foldable iPhone Duo to generate additional demand, estimating sales of about 10 million units over the next few quarters.

Citi remains bullish ahead of Apple earningsCiti has also reiterated its Buy rating on Apple ahead of the company's earnings expected in early November.

The bank said investor attention this quarter is likely to centre on Services growth momentum, alongside continued weakness in App Store revenue and concerns about the potential impact of agentic AI.

Citi also pointed to gross margin pressure from higher memory costs, partly offset by higher average selling prices, as well as iPhone sales seasonality following the lack of a base-model launch this autumn.

The combination of the smart home expansion, AI strategy, and upcoming iPhone upgrade cycle gives investors several areas to watch as Apple approaches its next earnings report.

Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) could see revenue from agentic commerce delayed after Jefferies, the investment bank, found about one-third of websites blocked access by Muse, its artificial intelligence (AI) agent.

Agentic commerce means AI agents browse, book and buy online on a consumer's behalf, and Meta hopes to collect a take rate, a percentage of each transaction.

Jefferies tested Muse on several hundred leading US e-commerce, airline, online travel agency, hotel and reservation websites: about one-third blocked its access, one-third challenged or restricted it, and one-third were easy to navigate.

Jefferies said new restrictions were appearing almost daily across the sites it tested, making website access, rather than model quality, an increasingly important bottleneck for agentic commerce.

Meta has responded by establishing sanctioned connectors with merchants including Walmart, Best Buy, Wayfair, Sephora and Dick's Sporting Goods, although many integrations remain in the early stages of deployment or are not yet live.

Jefferies considers blocking agents by default the wrong call over the long term, since agentic commerce would broaden distribution for merchants, but expects the access friction to extend the timeline for meaningful take-rate revenue for Meta.

Alphabet, the parent of Google, gains a potential structural advantage because most enterprises are unwilling to block Googlebot, its web crawler, given the risk of losing search traffic, while rivals may have to negotiate access site by site.

Jefferies also sees an opportunity for customer support software vendors as persistent AI agents generate more inquiries, naming Salesforce, HubSpot and ServiceNow among public companies and Sierra and Decagon among private companies.

An advertising expert consulted by Jefferies this week said Meta's ad spend growth outpaced Google's in the third quarter and expects the outperformance to continue in the fourth quarter and first quarter of 2027.

The expert added that as AI agents handle more queries, advertisers will optimize for outcomes rather than clicks, a shift that Jefferies said could benefit Meta alongside the current hype around Muse.

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

Amazon barred Meta's Muse from its website, citing concerns about access to and storage of customer data. Bloomberg/Getty Images Paul Graham says he thinks Amazon is opening itself up to competitors.

In a Wednesday night X thread, Graham, the cofounder of tech VC firm Y Combinator, criticized Amazon's recent decision to block consumer AI agents from its platform.

It's the "first opportunity I've seen since Amazon was founded for a startup to create an Amazon competitor," he wrote.

"People will want agents to buy stuff for them. It will be one of the main use cases. And they won't want to use some Amazon-supplied agent to do it."

Amazon banning agents is the first opportunity I've seen since Amazon was founded for a startup to create an Amazon competitor. People will want agents to buy stuff for them. It will be one of the main use cases. And they won't want to use some Amazon-supplied agent to do it.

— Paul Graham (@paulg) October 8, 2026 SpaceX and Tesla CEO Elon Musk reposted the thread with a one-word endorsement: "Seriously."

Graham's post comes as Amazon clashes with Muse, Meta's consumer-focused AI agent that can complete multi-step tasks, like making purchases.

Amazon banned Muse from its marketplace, saying the agent didn't identify itself when shopping and appeared to capture and store customer credentials.

Meta has said Muse itself cannot see users' passwords or payment methods. The company says credentials a user shares are stored securely in Muse's dedicated cloud computer, rather than visible to the agent.

Graham's theory is that Amazon wouldn't bother blocking agents if shoppers didn't want to use them — but blocking the agents could come at Amazon's peril, he warned.

"Your usage restrictions are my opportunity."

The post also comes as AI companies are moving deeper into the consumer agent arena. In late September, OpenAI launched Dots, its Muse-like competitor. Amazon has not publicly said if it has blocked Dots.

Not everyone agrees with Graham. Imran Khan, the founder of investment management firm Proem Asset Management, wrote that Amazon likely believes that more agents shopping on their platform risks increasing costly returns and "completely mess up their unit economics."

Amazon is hardly sitting on the sidelines of the consumer AI race. It has its own shopping assistant, Rufus, and a "Buy for Me" feature that buys products from some outside brands.

Amazon didn't immediately respond to a request for comment from Business Insider.

Read next

Ben Shimkus You're currently following this author! Click to unsubscribe from email alerts.

Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41. 

Amazon

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

Amazon founder Jeff Bezos introduced the Kindle Fire tablet in 2011. EMMANUEL DUNAND/AFP via Getty Images Goodbye, Amazon Fire tablets. You lasted longer than the Fire Phone.

After 15 years, the e-commerce giant is discontinuing its Fire tablets and replacing the budget-friendly devices with a new line of pricier tablets that have its Alexa+ voice assistant built in.

An Amazon spokesperson told Business Insider that the company will continue to sell through its current inventory of Fire tablets, but is no longer manufacturing new units with that branding.

The new Amazon Alexa Tablets, which run on Google's Android operating system and come with access to the Google Play Store, are now available for purchase and will ship on October 14 in the US, Mexico, and Canada.

Amazon's new line of Alexa tablets.  Amazon Amazon's aluminum-cased Alexa Tablet 12 Pro, Alexa Tablet 11, and Alexa Tablet 8 run from $229.99 to $499.99.

"The Alexa Tablets are a new product line built for what's next — they don't change anything about the experience Fire tablet owners have today," the Amazon spokesperson said. "Fire tablets remain their own product — fully supported, with continued security updates. Customers who love their Fire tablets can keep using them."

It's not the first time Amazon has moved on from a Fire-branded device. Its Fire Phone was a high-profile flop that Amazon founder Jeff Bezos later called a "tiny little blip."

Read next

Natalie Musumeci You're currently following this author! Click to unsubscribe from email alerts.

Natalie is a senior reporter on Business Insider's Business News team covering the AI and data center boom.She was previously on BI's Legal Affairs team, where she handled major cases coming out of state and federal court, as well as bankruptcy. Her coverage often focused on stories at the intersection of law, business, politics, and technology. Natalie has covered Donald Trump’s criminal and civil cases, the wave of lawsuits against the second Trump administration, the indictment and criminal trial of Sean “Diddy” Combs, the shooting death of UnitedHealthcare CEO Brian Thompson, and the legal battles facing Elon Musk and his companies. Natalie came to Business Insider in June 2021 as a breaking news reporter, focusing on the most interesting angles on the day's trending news. Natalie largely drove BI’s coverage around the fatal “Rust” shooting involving Alec Baldwin and the disappearance and murder of Gabby Petito.Prior to joining BI, Natalie worked for the New York Post, the New York Daily News, and The Brooklyn Paper. She has an extensive background covering crime and courts. During her more than 12-year journalism career, she did a stint covering the police beat out of the New York Police Department's headquarters. Natalie, a Brooklyn native, graduated from Brooklyn College in 2012 with a degree in journalism. 

Amazon Technology Alexa More Jeff Bezos

Key Takeaways Boeing's debt remains high as production delays, order cancellations and 777X setbacks weigh on execution.Boeing secured seven-year PAC-3 MSE and MH-139A contracts, boosting defense demand and production visibility.Boeing trades at a discounted P/S valuation, but poor ROIC and uneven cash generation remain concerns. The Boeing Company’s (BA - Free Report) shares have lost 10.6% in the past month compared with the Zacks Aerospace-Defense industry’s decline of 9%. BA continues to carry a significant debt burden despite ongoing efforts to reduce its leverage. While the company’s balance sheet is gradually improving, its high debt levels continue to absorb financial capacity that could otherwise support investments, growth initiatives or shareholder returns.
 

Image Source: Zacks Investment Research

Shares of other defense stocks, such as Northrop Grumman (NOC - Free Report) and Lockheed Martin (LMT - Free Report) , have lost 8.7% and 6.8%, respectively. Northrop Grumman is supported by strong backlog levels, higher defense spending and growing demand across strategic deterrence, missile defense, space and advanced aircraft. Similarly, Lockheed Martin benefits from a robust backlog, increasing munitions production and strong alignment with United States and allied defense priorities, providing a foundation for sustained growth.

Considering Boeing’s underperformance, investors may be wondering whether now is a good time to add the stock to their portfolios. Let’s examine the factors and assess the company’s investment prospects to make a more informed decision.

Key Headwinds Facing BA StockBoeing’s consolidated debt totaled $45.9 billion as of the end of the second quarter, down $1.3 billion sequentially and $8.2 billion year to date. Cash and marketable securities totaled $20.0 billion, while $10.0 billion of credit facilities remained undrawn. The balance sheet is improving, but debt still absorbs financial capacity that could otherwise support investment or shareholder returns. Boeing expects free cash flow of $1 billion to $3 billion in 2026, with a $700 million DOJ payment scheduled for the third quarter. Management remains committed to debt reduction and preserving its investment-grade rating. Until cash generation becomes more durable, leverage will remain an important constraint on financial flexibility.

The order book is growing, but slow production, delayed deliveries and ongoing inspections could be turning customers away from Boeing’s commercial aeroplanes, leading to recent order cancellations. Aircraft order cancellations during the six months ended June 30, 2026, totaled $2.78 billion and primarily relate to 737 aircraft. Additionally, the 777X program has suffered repeated postponements and significant cost overruns. The Boeing 777X program is running seven years late, with an expected entry-into-service date in 2027. These delays—driven by rigorous FAA scrutiny, design changes and part cracks—have resulted in significant cost overruns.

Factors Acting in Favor of BA StockOn Oct. 5, 2026, Boeing announced that it received a seven-year contract from Lockheed Martin to scale production and deliver PAC-3 Missile Segment Enhancement (“MSE”) seekers. The award formalizes a previously announced seven-year framework and allows Boeing to triple PAC-3 MSE seeker production. The contract strengthens Boeing's Defense, Space & Security (BDS) business by providing greater visibility into long-term defense demand and supporting higher production volumes for a critical missile-defense component.

On Oct. 1, 2026, Boeing announced that it had received an order for the first four full-rate production MH-139A Grey Wolf helicopters after the U.S. Air Force declared the program had reached initial operational capability earlier in the year. The award moves the Grey Wolf program into full-rate production and supports the Air Force’s plans to deploy the helicopter to protect critical national assets, including strategic missile fields. The new order brings the total number of MH-139A helicopters under contract to 42, with Boeing having already delivered 27.

Estimates for BA StockThe Zacks Consensus Estimate for Boeing’s 2026 earnings per share (EPS) indicates a year-over-year improvement of 91.45%.
 

Image Source: Zacks Investment Research

The consensus estimate for Northrop Grumman’s 2026 EPS suggests year-over-year growth of 9.45%. The Zacks Consensus Estimate for Lockheed Martin’s 2026 EPS implies a year-over-year rise of 31.7%.

BA’s Earnings Surprise HistoryThe company beat on earnings in one of the trailing four quarters and missed in the other three, delivering an average negative surprise of 113.46%.

Image Source: Zacks Investment Research

BA Stock’s Poor ROICThe image below shows that BA stock’s trailing 12-month return on invested capital (ROIC) not only lags the peer group’s average return but also reflects a negative figure. This suggests that the company's investments are not yielding sufficient returns to cover its expenses.

Image Source: Zacks Investment Research

BA Stock Trades at a DiscountIn terms of valuation, Boeing’s forward 12-month price-to-sales (P/S) is 1.36X, a discount to the industry’s average of 2.11X. This suggests that investors will be paying a lower price than the company's expected sales growth compared with that of its peer group.

Image Source: Zacks Investment Research

What Should Be the Next Move?Boeing is making progress on debt reduction, but elevated leverage and uneven cash generation continue to constrain financial flexibility. Commercial-aircraft production delays, order cancellations and 777X setbacks remain key risks, while growing defense contracts provide a positive offset by strengthening demand and production visibility.

Considering current execution challenges, price performance and poor ROIC, it is advisable to avoid the stock at present. BA has a Zacks Rank #4 (Sell) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Curaleaf’s Higher Aurora Bid Raises the Stakes in Cannabis ConsolidationTilray Brands NASDAQ: TLRY reported record first-quarter revenue and gross profit, driven by its BrewDog acquisition, international cannabis growth and pharmaceutical distribution operations, while reaffirming fiscal 2027 adjusted EBITDA guidance of $68 million to $75 million.

Net revenue rose 23% year over year to $257.1 million, while gross profit increased 35% to $77.5 million. Consolidated gross margin expanded by about 300 basis points to 30%, CFO Carl Merton said during the company’s earnings call.

Get Tilray Brands alerts:

The Cannabis Sector's Billion-Dollar Tax CutThe company reported a net loss of $40 million, compared with net income of $1.5 million in the prior-year quarter. Tilray said its adjusted net loss, excluding non-cash and non-recurring items, was $3 million, including roughly $5 million of net cash interest expense. Adjusted EBITDA was $9.2 million, down from $10.2 million a year earlier.

International cannabis grows as total cannabis revenue declines International cannabis revenue increased 21% to $16.2 million, supported by patient demand in Germany and contributions from U.K.-based patient access business Lyphe. Tilray said EMEA revenue, including medical cannabis, beverage and pharmaceutical distribution, rose more than 70% during the quarter.

The 2026 Cannabis Wildcard: How Tax Reform Could Reset Stock ValuationsTotal cannabis revenue, however, declined to $56.1 million from $64.5 million a year earlier. Merton said the company prioritized profitable international opportunities over lower-return volume. Tilray also redirected approximately one metric ton of inventory, representing $1.1 million of potential Canadian revenue, to international markets.

Cannabis gross margin rose to 39% from 36%, aided by operating efficiencies, product mix improvements in Canada and greater use of the company’s Portugal facility. Those gains partly offset $8.8 million in international cannabis price compression, according to Merton.

Management said its Portugal cultivation operation has reduced operating and cultivation costs by about 40% while improving strains and potency. Tilray expects the facility to produce more than 40 metric tons of flower at full capacity during fiscal 2027. Its Aphria RX operation in Germany is operating at full capacity, the company said.

Tilray said its CC Pharma distribution business offers access to more than 16,000 pharmacies and serves as a connector between pharmaceutical distribution, medical cannabis and patient access in Europe. Distribution revenue rose 14% to $84.3 million, while segment gross margin remained 11%.

BrewDog lifts beverage revenue and margins Beverage revenue increased 82% year over year to $101.5 million, including $55.9 million of incremental revenue from BrewDog. Beverage gross margin expanded by approximately 300 basis points to 41%.

Management said BrewDog became profitable in the first quarter after Tilray stabilized operations, reduced costs, renegotiated or avoided certain leases and moved away from unprofitable activities. The company also cited a favorable summer period for its retained bars and pubs, along with improving brand sales following new marketing campaigns.

“The budget for this year is profitability and some good profitability coming from BrewDog,” management said in response to an analyst question.

Tilray said BrewDog’s Punk IPA sales at its top six off-trade retailers were up 187% over the prior-year period in the two weeks following the rollout of its latest campaigns. BrewDog also added more than 9,000 distribution points for a new craft beer product and signed eight on-trade partnerships across entertainment, sports, pubs and hotels, according to the company.

In the U.S., Tilray said it continues to rationalize beer brands and SKUs, consolidate brewery operations and focus on priority channels, retailers and distributors. Management said the legacy U.S. craft beverage business would have posted a revenue decline excluding BrewDog because of those rationalization efforts.

The company cited Circana data for the 14 weeks ended Aug. 30 showing Tilray was the No. 2 craft vendor in Georgia and the West and No. 4 in New York state. It said SweetWater represented 12% of craft beer sales in Georgia.

Tilray also highlighted its multiyear agreement with Carlsberg Group. Beginning Jan. 1, 2027, Tilray expects to produce, market, sell and distribute Carlsberg Elephant 1664 and Kronenbourg 1664 Blanc throughout the United States. Management described the arrangement as a profit-sharing venture and said all Carlsberg products covered by the agreement would be produced in Tilray’s U.S. facilities.

Balance sheet and outlook Tilray ended the quarter with approximately $221 million in cash, restricted cash and marketable securities. The company retired $24 million of principal during the quarter and another $12 million after the quarter ended, leaving $52 million outstanding, Merton said.

The company raised a modest amount through its at-the-market program and had $70 million of remaining availability. Merton said BrewDog did not require cash injections during the quarter and was self-financing after an initial funding period tied to its payment cycle.

Wellness revenue was relatively stable at $15.3 million. Merton said segment margin pressure reflected a one-time shortage of organic hemp seed that affected the company’s e-commerce product mix.

Looking ahead, management said it expects fiscal-year results to be more heavily weighted toward the second half because of seasonality across beverage, cannabis and distribution. The company said its priorities include expanding cannabis margins through cultivation efficiencies and international scale, integrating BrewDog, optimizing its beverage manufacturing footprint, preparing for the Carlsberg transition and reducing debt and interest costs.

“Market conditions remain mixed across several categories,” Merton said, but he added that Tilray remains focused on “disciplined execution, profitable growth, and building a stronger global platform.”

About Tilray Brands (NASDAQ:TLRY)Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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

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

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

View The Five Stocks Here

Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.

Get This Free Report

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Key Takeaways MMM's Safety and Industrial segment posted broad-based growth across key end markets in 2026.Industrial adhesives and tapes sales rose 13%, while personal safety sales increased 9.4% in Q2.Organic sales grew 8.2%, with new products and productivity gains supporting segment performance. 3M Company’s (MMM - Free Report) Safety and Industrial segment remains a key growth driver, supported by broad-based demand across its major end markets. The segment continues to benefit from strength in industrial adhesives and tapes, electrical, industrial specialties and personal safety end markets. In the second quarter of 2026, sales of industrial adhesives and tapes increased 13% year over year, while personal safety sales rose 9.4%. Electrical and industrial specialties also delivered solid growth, with sales advancing 12% and 10.9%, respectively, during the quarter.

Stable demand for electrical infrastructure products, including medium-voltage cable accessories and insulation tapes, further supported performance. New product launches, along with rising demand for industrial adhesives and electronics bonding solutions, also bode well for the segment. Organic sales increased 8.2% year over year in the second quarter of 2026. The operating income margin expanded year over year, supported by higher sales and productivity gains. However, the improvement was partly offset by tariff-related impacts and continued investments to support long-term growth.

Supported by strength across its businesses, 3M provided an upbeat outlook for 2026. The company expects total adjusted organic sales to increase more than 3.5% year over year, while adjusted earnings are projected to range between $8.80 and $8.95 per share. At the midpoint of $8.875, the earnings outlook represents an improvement from the $8.06 per share reported in 2025.

Segmental Performance of MMM’s Peers in Q2Among 3M’s major peers, Honeywell Technologies (HON - Free Report) is witnessing softness in the Process Automation and Technology segment. In second-quarter 2026, the segment’s organic revenues decreased 1% on a year-over-year basis. This decline was attributable to a 6% drop in organic sales in the aftermarket business owing to lower refining catalyst shipments and project delays. Also, reduced customer demand in the Middle East due to ongoing geopolitical tensions hurt Honeywell’s results.

Another peer of MMM, Carlisle Companies Incorporated (CSL - Free Report) , is experiencing strength in its Construction Materials segment. Revenues from Carlisle’s Construction Materials segment increased 7.8% year over year to $1.18 billion in the second quarter of 2026. Organic revenues rose 7.7%, driven by healthy re-roofing demand, strategic initiatives and strong commercial execution, partly offset by continued softness in commercial new construction.

The Zacks Rundown for MMMShares of 3M have gained 1.2% in the year-to-date period against the industry’s decline of 18.1%.

Image Source: Zacks Investment Research

From a valuation standpoint, 3M is trading at a forward price-to-earnings ratio of 16.84X, above the industry average of 14.39X. MMM carries a Value Score of C.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for MMM’s earnings for 2026 and 2027 has increased 0.6% and 0.9%, respectively, in the past 60 days.

Image Source: Zacks Investment Research

MMM stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.