Argenx má podporu Wall Street: 10 analytiků čeká během 12 měsíců růst akcie alespoň na 1 200 USD. V posledním čtvrtletí firma vykázala globální čisté tržby z produktů ve výši 1,5 miliardy USD, meziročně o 60 %.
With a market cap hovering near $60 billion, Argenx SE (ARGX -1.79%) is no longer a new kid on the block in the biopharmaceutical world. However, the drugmaker still has a long way to go before becoming one of the largest healthcare companies.
Quite a few people on Wall Street believe that Argenx will make some headway on that goal in the near future, though. While the biotech stock was priced at roughly $919 as of the market close on Friday, Oct. 2, 2026, 10 analysts predict that it's headed to at least $1,200 over the next 12 months.
Image source: Getty Images.
Wall Street's take on Argenx Two analysts are especially bullish about Argenx. Wells Fargo (WFC +0.25%) and UBS (UBS +0.29%) set 12-month price targets of $1,415 and $1,400, respectively, for the stock, reflecting potential gains of more than 50%.
Another two analysts are only slightly less upbeat. TD Cowen (TD +0.23%) thinks Argenx can climb to $1,353, while Citi (C +1.18%) expects the stock to rise to $1,301.
Six others also have price targets of between $1,200 and $1,300: Citizens JMP (CFG +0.99%), H.C. Wainwright, Jefferies (JEF +1.59%), Piper Sandler (PIPR -0.64%), Morgan Stanley (MS +1.22%), and Stifel Nicolaus (SF -0.09%).
Granted, some analysts aren't as enthusiastic about Argenx. Still, the average price target for the stock is around $1,182, which represents potential upside of roughly 29%. Of the 21 analysts who have rated Argenx in the past three months, all but one rated it a "buy." The sole outlier recommending holding the stock.
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What's behind the optimism? It shouldn't be surprising that most analysts are optimistic about Argenx. The company delivered $1.5 billion in global product net sales in its latest quarter, up 60% year over year and 17% quarter over quarter.
Vyvgart and Vyvgart Hytrulo are driving Argenx's growth. Both drugs are approved in the U.S. for the treatment of generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP), autoimmune diseases that affect different parts of the nervous system. Vyvgart is also approved in Japan for the treatment of primary immune thrombocytopenia (ITP).
More approvals for other autoimmune diseases could be on the way. In August 2026, Argenx announced positive results from a late-stage study evaluating Vyvgart Hytrulo for the treatment of adults with autoimmune myositis. The company expects to report data from two other late-stage studies next year, one targeting primary ITP and another targeting Sjogren's disease.
Argenx isn't a two-trick pony, though. Its pipeline also features empasiprubart, which is being evaluated in registrational clinical trials for the treatment of multifocal motor neuropathy (MMN) and CIDP. The company is testing adimanebart as a treatment for congenital myasthenic syndromes (CMS) and spinal muscular atrophy. Argenx recently completed its acquisition of Forte Biosciences, adding promising experimental autoimmune disease therapy FB102 to its quiver.
Wall Street overwhelmingly views Argenx stock as a great stock to buy right now. But are the majority of analysts right? I think so.
It's important not to ignore the potential challenges for the company, though. Argenx's success hinges on positive results from its multiple ongoing Phase 3 clinical studies. Any disappointments from those trials could cause the stock to decline. More than one clinical setback could send Argenx's shares spiraling downward.
Argenx also faces a headwind in China. Net product sales in the country plunged 62% year over year in the second quarter of 2026. Granted, China accounts for only a small percentage of Argenx's total revenue, but it remains an important long-term opportunity.
Whether or not Argenx's share price can soar 30% or more over the next 12 months, as many Wall Street analysts expect, remains to be seen. However, the risk-reward proposition for this biotech growth stock looks attractive.
On 29 September 2026, the Enterprise Chamber of the Court of Appeal in Amsterdam, the Netherlands (the Enterprise Chamber), rendered its judgment in the statutory squeeze-out proceedings initiated by Kodiak BidCo B.V., an indirectly wholly-owned subsidiary of Keurig Dr Pepper Inc. (KDP), to acquire any and all shares in the capital of JDE Peet’s B.V. (JDE Peet’s) not already held by KDP (the Shares).
The Enterprise Chamber ordered all remaining unknown JDE Peet’s shareholders to transfer the unencumbered right to their Shares to KDP. It determined that the public offer price of EUR 31.85 is the fair price per Share, subject to an increase by statutory interest calculated from 1 April 2026 until the date of transfer or consignment of the Shares pursuant to article 2:201a of the Dutch Civil Code. KDP was ordered to pay this fair price plus statutory interest in exchange for the transfer of the unencumbered right to the Shares.
Voluntary transfer
KDP calls upon all JDE Peet’s shareholders to effect the voluntary transfer to KDP of the unencumbered right to the Shares between now and 16 October 2026 at 15:00 CET, by instructing their bank, broker or other financial intermediary, to transfer their Shares electronically through the systems of Euroclear Nederland via MT 565 SWIFT or Easyway to KDP’s securities account. On 19 October 2026, KDP will pay the price of EUR 31.85 per Share, plus statutory interest from 1 April 2026 up to the date of transfer, to those JDE Peet’s shareholders that have voluntarily transferred their Shares before 16 October 2026, 15:00 CET. No brokerage or bank fees or other costs incurred by such JDE Peet’s shareholders will be reimbursed by KDP.
Transfer by operation of law
For all Shares not offered within the aforementioned voluntary transfer period, an amount per Share equal to EUR 31.85, plus statutory interest accrued from 1 April 2026 up to the date of consignment, will be paid by KDP into consignment with the Dutch consignment office (a body of the Dutch Ministry of Finance). Following the consignment, the unencumbered title to such Shares will transfer to KDP by operation of law, pursuant to article 2:201a paragraph 8 of the Dutch Civil Code. Any attachments (beslagen) or limited rights (beperkte rechten) resting on such Shares will, from that moment, rest on the consigned amount instead. KDP shall request Euroclear Nederland to apply the Euroclear Nederland consignment procedure. Pursuant to this procedure, Euroclear Nederland shall ensure the payment of the squeeze-out price plus interest to the remaining JDE Peet's shareholders.
Keurig Dr Pepper (Nasdaq: KDP) is a leading beverage company with more than 150 owned, licensed and partner brands that meet a wide range of needs and occasions. Our North American refreshment beverage business holds leadership positions across carbonated soft drinks, water, juice and mixers with a portfolio of iconic brands such as Dr Pepper®, Canada Dry®, Mott’s®, A&W®, Peñafiel®, GHOST®, 7UP®, Snapple®, Clamato® and Core Hydration®. Our global coffee business spans more than 100 markets and includes the leading Keurig® single-serve brewing system in the U.S. and Canada, along with powerhouse brands such as Peet’s, L’OR and Jacobs, and other regional coffee leaders. Our more than 50,000 employees aim to enhance the experience of every beverage and coffee occasion while making a positive impact for people, communities and the planet. Learn more at www.keurigdrpepper.com and follow us @KeurigDrPepper on LinkedIn and Instagram.
About JDE Peet’s
JDE Peet’s – now part of the KDP Group – is the world’s leading pure-play coffee company, with a presence in more than 100 markets. Guided by our ‘Reignite the Amazing’ strategy, we are focused on brand-led growth across three big bets: Peet’s, L’OR, and our 10 strategically selected local icons led by Jacobs. In 2025, JDE Peet’s generated total sales of EUR 9.9 billion and employed a global workforce of more than 21,000 employees. Discover more about our journey to deliver a coffee for every cup and a brand for every heart at www.jdepeets.com.
General restrictions
The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, JDE Peet’s and KDP disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither KDP nor JDE Peet’s, nor any of their advisors, assumes any responsibility for any violation by any of these restrictions. Any JDE Peet’s shareholder who is in any doubt as to his or her position should consult an appropriate professional advisor without delay.
Premier African Minerals získala asi 1,2 milionu GBP a peníze použije na obnovení provozu v projektu Zulu v Zimbabwe, včetně možného znovuspuštění zpracovatelského závodu a remobilizace těžby. Firma chce zpracovat zhruba 13 000 tun rudy už na ROM padu.
Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) has raised about £1.2 million before expenses, selling 27.5 billion new shares at 0.00436p apiece to a group of institutional and professional investors.
The money goes towards firing up operations again at the Zulu Lithium and Tantalum Project in Zimbabwe, including a possible restart of the processing plant and the remobilising of mining.
It marks a shift in approach as the original plan was to build a larger run-of-mine stockpile before processing resumed. Instead, Premier will work through roughly 13,000 tonnes of ore already sitting on the ROM pad.
The first job is a campaign of about 15 days, with the focus on keeping the plant running steadily and checking throughput, recoveries and product quality.
Managing director Graham Hill said a successful run should give the board, shareholders and potential funders a clearer read on what Zulu can do, and a firmer footing for deciding the next step.
More blasted ore within the EPO could be moved to the pad afterwards, subject to how the plant performs and whether the working capital is there.
The new shares should start trading on AIM on or around 9 October, taking the share count to 77.6 billion.
Google představil Gemini 4 Argon, dosud nejpokročilejší model AI, který zvládá dlouhé vícekrokové úkoly a až 1 milion tokenů v jednom běhu, oproti dřívějšímu limitu 64 000. Firma ho nasazuje i interně, včetně oprav zranitelností a úspor paměti v datových centrech, kde už ušetřila více než 300 tebibajtů paměti s potenciálními úsporami mezi 500 tebibajty a 1 pebibajtem.
Google has unveiled Gemini 4 Argon, its most advanced AI model yet, as competition with OpenAI and Anthropic increasingly moves beyond chatbots to systems that can carry out complex professional work with limited supervision.
The new model is designed for long, multi-step tasks across software engineering, cybersecurity, financial research, and legal work, with Google positioning it as an enterprise tool rather than simply another consumer-facing AI assistant.
One of the biggest changes is scale. Gemini 4 Argon can generate up to 1 million tokens in a single run, compared with a previous limit of 64,000, allowing it to sustain much longer reasoning processes and complete significantly more complicated tasks without interruption.
Google puts Argon to work internally
Google says thousands of its own employees are already using Argon across engineering and research.
The company has deployed teams of Argon agents to identify and implement memory-efficiency improvements across its data centres, freeing more than 300 tebibytes of memory, with total potential savings estimated at between 500 tebibytes and 1 pebibyte.
The model has also been used to migrate large C and C++ codebases into memory-safe Rust, including projects containing hundreds of thousands of lines of code.
In another example, Google said Argon improved the performance of a Rust video decoder by 2.7 times while producing identical output.
Cybersecurity capabilities trigger cautious rollout The model’s cybersecurity abilities are among its most powerful features and also one of the main reasons Google is limiting access initially.
Argon can autonomously find, validate and patch software vulnerabilities and has already identified a serious flaw affecting healthcare software used by hospitals.
Google is initially making the model available to selected cyber defenders through its Fairwind program while it gathers feedback and strengthens safeguards before a broader release.
The company is also participating in a US government process that allows authorities to evaluate advanced AI systems before wider deployment.
Price war intensifies Google is also competing aggressively on cost.
Gemini 4 Argon will launch at an introductory price of US$2 per million input tokens and US$10 per million output tokens, with standard pricing later expected to double.
That puts further pressure on OpenAI and Anthropic as developers increasingly compare frontier models not only on intelligence but also on how cheaply they can complete real-world work.
The arrival of Argon illustrates where the AI race is heading next.
The battle is no longer simply over which chatbot gives the best answer.
The next phase is about which AI system can safely perform the longest, most complex and most valuable work with the least human intervention.
Huawei uzavřela s Qualcomm víceletou patentovou licenční dohodu pro AI, 5G, computing a networking. Součástí je i nákup některých patentů Huawei v USA; hodnota licencí má přesáhnout 6,9 miliardy USD.
China's Huawei Technologies (HWT.UL) said on Monday it had agreed a broad multi-year patent licence deal with Qualcomm (QCOM.O) covering artificial intelligence, 5G, computing and networking technologies.
Here are some details:
The agreement includes Qualcomm's purchase of certain Huawei US patents related to computing, AI and networking, Huawei said in a statement.
It is Huawei's first patent licensing deal with Qualcomm that covers 5G technologies.
Huawei said the deal is expected to push the total value of its patent licensing agreements to more than $6.9 billion once completed.
The company said its intellectual property licensing business has generated positive revenue since 2021, reflecting years of heavy investment in research and development.
Huawei ramped up R&D spending in recent years, as US trade restrictions since 2019 have limited its ability to buy advanced chips and crucial software.
Huawei made its first licensing payment to Qualcomm in 2001, while it received its first licensing income in 2011 from Motorola.
The Qualcomm agreement follows a licensing deal with HP Inc (HPQ.N) announced by Huawei in August.
OKXICE podalo u SEC žádost o spuštění tokenizované platformy pro nepřetržité obchodování amerických akcií. Podle podání má být k dispozici více než 60 kótovaných společností.
OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange (ICE.N), filed with the Securities and Exchange Commission on Sunday to launch a tokenized securities platform for around-the-clock trading of US stocks.
More than 60 listed companies will be available for around-the-clock trading throughout the week, according to the filing
"This is a landmark step toward a truly global, 24/7 Wall Street," said former New York Governor Andrew Cuomo, who is co-chair of OKXICE, in a post on the X social media platform
The SEC unveiled an exemption last month allowing companies to offer trading in blockchain-based or "tokenized" stocks and other securities. The move came two days after comprehensive cryptocurrency legislation backed by US President Donald Trump failed to advance in the Senate
Global exchanges including the NYSE, Nasdaq and the London Stock Exchange are preparing to launch round-the-clock trading in the coming months
Prediction markets' push into US stock trading has recently raised regulatory concerns
CSL uzavřela s Alentis Therapeutics dohodu o společném vývoji a komercializaci léku lixudebart pro vzácná onemocnění ledvin a jater až za 1,6 miliardy USD před vývojovým financováním. CSL zaplatí 355 milionů USD předem.
Australia's CSL (CSL.AX) said on Monday it had entered into an agreement with Switzerland-based Alentis Therapeutics to co-develop and co-promote a treatment for rare kidney and liver diseases, in a deal worth up to $1.6 billion before development funding.
Under the partnership, CSL will make an upfront payment of $355 million, while Alentis is eligible for up to $1.2 billion in commercial milestone payments.
The deal gives the Australian biotech giant rights to jointly develop and commercialise lixudebart, a potential first-in-class treatment being studied for rare kidney and liver diseases.
Lixudebart, formerly known as ALE.F02, is currently in a Phase 2 trial for a rare autoimmune kidney disease that can cause irreversible kidney damage and end-stage renal disease.
The drug was granted orphan drug designation — a special status granted by the US FDA to investigational therapies intended to prevent, diagnose, or treat rare diseases or conditions — for the treatment of idiopathic pulmonary fibrosis, or chronic lung disease, in 2024.
The companies also plan to advance the drug as a potential treatment for focal segmental glomerulosclerosis (FSGS), a chronic kidney disease, and primary sclerosing cholangitis (PSC), a chronic liver disease for which there is currently no approved therapy.
Once commercialised, global profits from the drug will be shared 55% to CSL and 45% to Alentis.
Více než 160 offshore pracovníků Apache podpořilo stávku, která může narušit severomořský ropovod Forties a zastavit platformu Charlie. Unie varuje i před možným uzavřením systému Forties.
LONDON, Oct 5 (Reuters) - A strike by more than 160 offshore workers at US energy company Apache this month could disrupt the UK's North Sea Forties pipeline, a major conduit for UK oil and gas supplies, the Unite labour union said on Sunday.
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Unite said workers on seven North Sea assets operated by Apache overwhelmingly backed industrial action after rejecting a pay offer it described as a real-terms pay cut.
The union warned that disruption could bring the Charlie platform to a standstill, potentially leading to a shutdown of the Forties pipeline system.
Operated by Ineos, the Forties system transports crude from dozens of North Sea fields to Scotland and handles about 29% of UK oil production and 30% of its gas, Unite says.
The system exports Forties Blend, one of the crude streams underpinning the Brent benchmark used to price much of the world's oil.
Reporting by Ahmad Ghaddar Editing by Alex Lawler and David Goodman
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Suncor prodá podíly v offshore aktivech Terra Nova, White Rose a West White Rose za 1,2 miliardy CAD v hotovosti a až o dalších 350 milionů CAD. Zároveň zvýší měsíční odkupy akcií z 500 milionů na 750 milionů CAD.
Unless otherwise noted, all financial figures are presented in Canadian dollars (Cdn$).
Calgary, Alberta--(Newsfile Corp. - October 4, 2026) -
Agreement reached to sell interests in Terra Nova, White Rose, and West White Rose for $1.2 billion cash and an additional contingent payment of up to $350 million Increased share repurchases from $500 million to $750 million per month beginning in October 2026 Investor Day commitments to grow normalized free funds flow by $2 billion and reduce WTI breakeven by US$5/bbl through 2028, remain unchanged Suncor Energy (TSX: SU) (NYSE: SU) announced today that it has entered into a definitive agreement to sell its 48% interest in Terra Nova, 40% interest in White Rose and 38.6% interest in West White Rose offshore assets to Ithaca Energy plc (Ithaca) for $1.2 billion (US$860 million) of upfront cash and an additional contingent payment of up to $350 million (US$250 million), based on future oil prices.
In addition, Ithaca will assume investment commitments and all future liabilities associated with the assets, including a $500 million regulatory well compliance program starting in 2027 at Terra Nova and the total estimated abandonment and lease liabilities of $1.4 billion.
Ithaca is one of the largest independent operators in the UK North Sea, bringing new capital and significant offshore expertise to Canada's East Coast industry. As part of its entry into the region, Ithaca intends to assume operatorship of Terra Nova.
"This transaction further focuses our efforts on opportunities that generate the greatest long-term shareholder value," said Rich Kruger, Chief Executive Officer. "We are aligning our portfolio around our competitive advantages and the strengths of our unparalleled, physically-integrated business, underpinned by large-scale, long-life oil sands resources."
The transaction has an effective date of July 1, 2026 and is expected to close in early 2027, subject to customary closing conditions, regulatory approvals and partner consents. Suncor will retain its interests in Hebron and Hibernia.
"Our Investor Day commitments to grow normalized free funds flow and reduce WTI breakeven remain unchanged, reflecting the strength of our integrated asset base and confidence in our ability to deliver," added Rich Kruger.
Concurrent with this announcement, Suncor has increased share repurchases under its normal course issuer bid from $500 million to $750 million per month beginning in October 2026.
Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information, visit suncor.com, subscribe to Energy Rising or follow us on LinkedIn, Instagram and Facebook.
Legal Advisory - Forward-Looking Information
Forward-looking statements in this news release include statements about expected share repurchases, including the amount and timing of such repurchases; 2026 Investor Day commitments including the increases in normalized free funds flow by 2028 and the US$5 per barrel reduction to WTI breakeven by 2028; and expectations regarding the sale of the non-core offshore assets, including the expected timing thereof. Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Suncor's Annual Information Form and Annual Report to Shareholders, each dated February 25, 2026, its Form 40-F dated February 26, 2026 and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available by referring to suncor.com/FinancialReports or to the company's profile on SEDAR+ at sedarplus.ca or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317317
Source: Suncor Energy Inc.
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Bloom Energy tvrdí, že 1GW AI datacentrum napájené jejími palivovými články může snížit stavební náklady mimo čipy o 3,6 miliardy USD a celkové pětileté náklady o 5,5 miliardy USD.
Bloom Energy (BE +4.17%) put a dollar amount on its pitch to artificial intelligence (AI) data centers on Sept. 16. According to the fuel cell maker's own cost model, a 1-gigawatt AI data center run on its systems could spend $3.6 billion (27%) less on non-chip construction than one built around standard AC (alternating current) power. Over five years, Bloom says the total cost to own the facility drops by $5.5 billion, or 9%.
These savings are big next to the $3.9 billion to $4.2 billion in revenue Bloom sees for all of 2026. And they come with the stock near $289 as of this writing, about 18% under its 52-week high of $351.28.
I think the claim's credible, but I'm less sure it affects what the stock's worth.
Image source: The Motley Fool.
Where does the $3.6 billion come from?Bloom's solid oxide fuel cells make electricity on-site, and they produce it as 800-volt direct current (DC). That matters because AI chips use DC, but the grid, gas turbines and engines supply AC power that has to be converted before it reaches a server rack. Skipping these steps, Bloom argues, reduces the need for transformers and switchgear, equipment that can already take years to get.
Work the percentages backward, and Bloom's model puts non-chip construction for a 1-gigawatt site at about $13 billion and five-year ownership at roughly $60 billion. Most of that tab, in other words, goes toward the chips and the cost to run them. Even in Bloom's own numbers, power savings trim less than a tenth of it.
Bloom also notes that real project economics will differ by site.
Nvidia's racks are moving to 800 voltsNvidia (NVDA +1.34%) has said full-scale production of 800-volt DC data centers should coincide with its Kyber rack systems in 2027. It says running one of these 1-megawatt racks on today's 54 volts could use up to 200 kilograms of copper. Research firm SemiAnalysis reported in July that Kyber could slip to 2028, a report Nvidia denied.
But Nvidia's own design doesn't need a fuel cell. It converts AC grid power to 800-volt DC once, at the edge of the data center.
The data center power system makers Nvidia listed as 800-volt partners in October 2025 included Eaton and GE Vernova, but not Bloom. So Bloom's real competitor in 2027 might be grid or turbine power converted to DC once, which could cut the savings.
"To move away from the AC paradigm that is over a century old requires the pain of not switching to be far greater than the benefit and comfort of accepting the status quo," Bloom's founder and CEO, KR Sridhar, said when the report came out, admitting that switching is a high bar.
Saving 9% on ownership costs is worth having. I'm not sure it's that sort of pain.
Orders still depend on speedBloom's Oracle deal seems to have been won on something else. When Oracle expanded its partnership in April to get up to 2.8 gigawatts of Bloom's fuel cells, its executive spoke about speed, not cost.
"By rapidly deploying Bloom's reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States," said Mahesh Thiagarajan, executive vice president of Oracle Cloud Infrastructure.
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That demand shows in Bloom's results. In the second quarter of 2026, product revenue was around $935 million, over three times the year-ago level. Product gross margin, though, is about where it was before the data center boom. The latest quarter's 36.5% is near the 36.6% Bloom reported in the fourth quarter of 2025 and the 36.8% it posted for all of 2024. So Bloom is selling far more systems without yet keeping a noticeably bigger share of every sale. If customers accept the cost claim, it may give Bloom room to charge more.
Of course, fuel cells also need a steady gas supply. On Sept. 24, Bloomberg reported that Oracle had sent a force majeure notice linked to Project Jupiter, a planned New Mexico campus that Bloom's fuel cells are due to power. The pipeline meant to supply the site with natural gas has been delayed. Bloom said Oracle is still committed to the contract, and Oracle said the project remains on schedule.
Shares cost around 56 times Bloom's expected 2027 earnings per share. And 2027 is just the year Nvidia's 800-volt racks are set to start arriving. Notably, Bloom's announcement doesn't name a customer for its full 800-volt design.
So the cost claim helps Bloom's case for the 2027 build-out. But I'd want to see a big data center operator commit to that design before paying this much for the stock.
Vaxcyte zítra představí topline data z klíčové fáze 3 studie OPUS-1 pro vakcínu VAX-31. Studie hodnotí bezpečnost, snášenlivost a imunogenicitu kandidáta proti pneumokokovým onemocněním.
SAN CARLOS, Calif., Oct. 04, 2026 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company, today announced it will host a webcast and conference call tomorrow, October 5, 2026 at 8:00 a.m. ET / 5:00 a.m. PT to present topline data from the OPUS-1 adult pivotal Phase 3 trial evaluating the safety, tolerability and immunogenicity of VAX-31, the Company’s 31-valent pneumococcal conjugate vaccine (PCV) candidate designed to prevent invasive pneumococcal disease (IPD) and pneumococcal pneumonia.
To participate in the conference call, please dial 800-445-7795 (domestic) or 785-424-1699 (international) and refer to conference ID PCVX1005. A live webcast of the conference call will also be available on the investor relations page of the Vaxcyte corporate website at www.vaxcyte.com.
After the live webcast, the event will remain archived on the Vaxcyte website for at least 30 days.
About Vaxcyte
Vaxcyte is a vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases. VAX-31, a 31-valent PCV candidate being evaluated in the OPUS Phase 3 adult clinical program and in a Phase 2 infant clinical program, is being developed for the prevention of IPD and is the broadest-spectrum PCV candidate in the clinic today. VAX-24, a 24-valent PCV candidate, has generated positive Phase 2 clinical results in both adults and infants and is designed to cover more serotypes than any PCV on-market. VAX-31 and VAX-24 are designed to improve upon standard-of-care PCVs by covering the serotypes in circulation that cause a significant portion of IPD and are associated with high case-fatality rates, antibiotic resistance and meningitis, while maintaining coverage of previously circulating strains. VAX-XL, in earlier-stage development, also leverages the Company’s carrier-sparing, site-specific conjugation technology with the aim of further expanding coverage to deliver the broadest-spectrum candidate in the Company’s PCV franchise.
VAX-A1 is a prophylactic vaccine candidate designed to provide broad, strain-independent protection against disease caused by Group A Strep and is currently being evaluated in a Phase 1 clinical study in adults. Group A Strep remains a significant global cause of morbidity and mortality across both adult and pediatric populations and is a leading driver of antibiotic use, underscoring the substantial public health burden.
Vaxcyte is re-engineering the way highly complex vaccines are made through XpressCF®, its cell-free protein synthesis platform exclusively licensed from Sutro Biopharma, Inc. Unlike conventional cell-based approaches, the Company’s system for producing difficult-to-make proteins and antigens is intended to develop and deliver high-fidelity vaccines with enhanced immunological benefits. Vaxcyte’s pipeline also includes VAX-GI, a vaccine candidate designed to prevent Shigella. For more information, visit www.vaxcyte.com.
Contacts:
Patrick Ryan, Executive Director, Corporate Affairs
Vaxcyte, Inc.
415-606-5135 [email protected]
Jeff Macdonald, Executive Director, Investor Relations
Vaxcyte, Inc.
917-371-0940 [email protected]
Nike ve 1. čtvrtletí fiskálního roku 2026 vykázala pokles tržeb o 4,2 % na 11,2 miliardy USD a zklamala odhady. Firma zároveň očekává vysoký jednociferný pokles tržeb a výrazně slabší upravený zisk.
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Nike NYSE: NKE looks like a good buy primarily for technical reasons. A prolonged sell-off trimmed more than 80% off the stock price over five years, leaving it at an extreme low, looking oversold and overextended.
The stock recently capitulated after earnings results for its Q1 fiscal year 2027 (FY2027) were released. The move, accompanied by high volume, suggests the downtrend is over, and a rebound is imminent, needing only a catalyst to drive it. The risk, however, is that Nike’s sell-off is still underway and its share price could fall even further.
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Analysts' responses to the release underscore the risk. RBC Capital Markets analyst Piral Dadhania summed it up, commenting that "things are going to get worse before they get better” for Nike. While the consensus continues to forecast upside for the stock, it is a lagging metric, with the revision trend downward, leading to the low end in the low-$20 range. This is a $10-per-share risk, about 30%, for investors, with no guarantee of a price floor.
Mixed Results and Weak Guidance Send Nike to Fresh LowsNike struggled in Q1 FY2027, with revenue falling by 4.2% to $11.2 billion and missing the consensus estimate. While Nike showed some strengths, weaknesses in its core shoe business and in its China growth engine offset them.
Regionally, North America grew 2%, while Europe, Middle East & Africa contracted 5%, Asia Pacific & Latin America contracted 2%, and Greater China contracted 22%. Segmentally, results were mixed across regions but generally down, with Nike down 4% and Converse down 28%. Nike Direct, the direct-to-consumer channel, contracted 8%, driven by a 13% decline in digital, a channel that had driven growth for other brands.
Margin news was good, but not good enough to offset the quarterly weakness and full-year guidance. The company improved its gross and operating margins, driving better-than-expected earnings despite the top-line miss; however, these improvements aren’t enough to cover the dividend and capital expenditures. The company has already halted buybacks; the risk now is to the dividend, which may be cut to preserve cash flow and capital while the turnaround strategy progresses.
Guidance was weak, very weak. The company forecasts a high-single-digit revenue decline and adjusted earnings well below MarketBeat’s reported consensus. Worse, the guidance may be overly optimistic, as results lag industry trends.
Meanwhile, competition from companies such as On Holdings NYSE: ON is strengthening. ON Holding's strength lies in its product innovation and lifestyle appeal.
Nike Strengthens Its Balance SheetNike’s balance sheet offers a reason to buy this stock, or at least keep it on the watch list as it works toward a bottom. While fiscal Q1 cash flow was negative, the company is a cash-flow machine, and the balance sheet reflects that. Trailing 12-month activity includes a massive debt reduction of about 26%, enabling equity gains and improved shareholder leverage if the business recovers. Other highlights include nearly $7 billion in cash, a net cash position, and a 0.38x debt-to-equity ratio.
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Nike’s biggest risk this year is how long the slump lasts and its impact on cash flow. While the company can sustain dividend payments with its balance sheet, it can’t do so forever, putting management in a tough spot. Cutting or suspending payments will preserve capital and help Nike return to growth, but will negatively affect market sentiment. The question is whether the market has fully priced in the possibility, and that is unlikely.
Institutional activity could be the deciding factor on Nike’s bottom. The group reflects long-term optimism, owning more than 60% of the shares, but they haven't been accumulating in 2026. MarketBeat data shows very light activity, suggesting the group is waiting to see what happens next.
Average investors get the timing of Nike’s turnaround wrong. The time-to-market is long, with CEO Elliot Hill explicitly saying spring 2027 is when the first of the newly revamped product lines will hit shelves. That makes Q2 reporting the first true catalyst that could put this market in a buying posture. Meanwhile, more nimble competitors are successfully pushing next-gen shoe technology and the accessories to go with it. This marks a structural loss of share that Nike will struggle to regain, if it can.
The bulls get it right that Nike has unmatched global scale, athlete, and team support. If it can regain traction, the rebound could be sharp, and turnaround efforts are paving the way. They include repairing damaged wholesale ties, reinvigorating core brands like Jordan, and reducing retailer inventory so that new products can reach where consumers spend money.
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Howard Hughes po silné podpoře akcionářů potvrdila všech 11 nominovaných členů představenstva a představila strategii zaměřenou na pojišťovnictví. Firma chce z realit uvolnit kapitál a přesunout jej do Vantage.
Howard Hughes (NYSE:HHH) shareholders elected all 11 board nominees, approved the company’s advisory executive-compensation proposal and ratified KPMG as independent auditor for 2026, according to preliminary results announced at the company’s annual meeting.
Executive Chair Bill Ackman said each director received more than 96% support, while the say-on-pay proposal and auditor ratification each received about 99% support. Final voting results are expected to be filed with the Securities and Exchange Commission within four business days.
Company outlines insurance-led strategy Following the formal meeting, Ackman outlined Howard Hughes’ strategy to become an insurance-led diversified holding company while reshaping its real estate operations into a more capital-light business. The centerpiece of that strategy is the company’s June acquisition of specialty insurance and reinsurance company Vantage. Ackman said Howard Hughes injected $900 million of capital into Vantage, with $300 million coming from Howard Hughes’ balance sheet and the remainder provided by Pershing Square. Howard Hughes owns slightly more than half of Vantage, while Pershing Square holds the remaining economic interest through a preferred instrument that Howard Hughes can redeem over seven years.
Ackman said the company’s initial focus is to expand Vantage’s capital base and eventually consider redeeming the preferred interest, depending on relative investment opportunities. He said the company does not expect major insurance acquisitions in the near term.
Vantage Executive Chair Marc Grandisson said the insurer’s approach will emphasize underwriting discipline over premium growth. “Top-line volatility leads to bottom-line stability,” Grandisson said, describing a strategy of writing more business when market conditions are favorable and reducing exposure when pricing does not meet return requirements.
Grandisson, formerly CEO of Arch Capital, said Vantage has room to grow because of its relatively small scale and opportunities across specialty insurance and reinsurance. He identified Europe and London as potential areas for expansion, while also citing opportunities to build in existing product lines and potentially add areas such as liability coverage.
David Gansberg is expected to become Vantage’s CEO in June, while Grandisson continues as executive chair. Ackman also highlighted the addition of Lucy Fato, formerly vice chair and general counsel at AIG, to the broader leadership effort.
Investment portfolio repositioned Ackman said Vantage’s investment portfolio was repositioned shortly after the acquisition. At closing, the roughly $3.1 billion portfolio consisted primarily of fixed-income investments. The company sold its longer-duration fixed-income holdings and shifted capital toward short-term U.S. Treasuries and a common-stock portfolio managed by Pershing Square.
According to Ackman, short-term Treasuries now represent about 62% of the portfolio, while common stocks account for about 37%. He described the approach as a “barbell” strategy intended to maintain liquidity for insurance obligations while seeking higher long-term returns from equities.
Howard Hughes and Pershing Square compared the strategy to Berkshire Hathaway’s longstanding practice of holding substantial liquid assets against insurance float while investing surplus capital in equities. Ackman said Howard Hughes intends to maintain lower leverage than a typical property-and-casualty insurer and write less premium relative to equity than the industry norm, although management said those levels could evolve as Vantage grows.
Grandisson said Vantage currently has limited catastrophe exposure and that risk management will focus on avoiding events that could materially impair capital. He said the company monitors a range of potential exposures and uses conservative assumptions in assessing probable maximum losses.
Real estate business to seek partners Howard Hughes also plans to bring outside capital into its real estate portfolio, with the objective of extracting capital for redeployment into Vantage while retaining operating control and a meaningful ownership interest in projects.
Ackman said the company intends to seek joint-venture partners for approximately 80% of the equity invested in income-producing assets and its master planned community business. The company also plans to sell certain non-core assets.
David O’Reilly, CEO of Howard Hughes, said advisers are expected to begin marketing the income-producing portfolio to potential partners by the end of the year. He said the company has about $2 billion to $2.2 billion of equity in income-producing assets. Ackman said the company believes it could generate more than $2 billion of capital “comfortably into next year,” though he described timing around the master planned community business as less certain.
The company estimated the after-tax value of its real estate assets at roughly $5 billion and said it could retain about $1 billion of equity exposure while potentially extracting about $4 billion for other uses. Ackman said the new structure would allow Howard Hughes to earn management, performance and incentive fees on third-party capital while continuing to own and control interests in its real estate assets.
O’Reilly said asset-level transactions would involve sales of equity rather than the elimination of existing property debt. For residential land, which generally does not carry substantial leverage, the company expects the strategy to retain a meaningful equity stake while enabling additional development activity where risk-adjusted returns justify it.
Management addresses valuation and capital allocation Ackman said management believes Howard Hughes shares trade at a discount to the after-tax value of its real estate portfolio, with Vantage valued near cost in the market. He argued that transitioning from an asset-heavy real estate company to a capital-light real estate manager and insurance-led holding company could improve returns on equity and lead to a higher market valuation.
When asked whether the company should repurchase shares, Ackman said he believes the highest-return use of marginal capital is currently investment in Vantage, including potentially redeeming Pershing Square’s preferred interest, rather than buying back Howard Hughes shares.
Management also said it does not expect to materially expand its long-term land bank. O’Reilly said Teravalis, the company’s 37,000-acre community west of the White Tank Mountains in Arizona, has commercial-development potential that could include data centers. He said the company has water supply certificates for the first 5,000 acres of the community and is in discussions with companies considering relocations.
About Howard Hughes (NYSE:HHH) Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and management company focused primarily on master planned communities and mixed-use properties. The company develops residential neighborhoods and supporting infrastructure while also owning and operating commercial, retail, office, multifamily, hospitality and entertainment assets.
Its portfolio includes master planned communities such as The Woodlands, Bridgeland and The Woodlands Hills in the Houston area; Summerlin in the Las Vegas region; Ward Village in Honolulu; and Teravalis in the Phoenix metropolitan area.
Host Hotels vyplatila v červenci speciální dividendu 0,72 USD navíc k pravidelné čtvrtletní dividendě 0,20 USD. Společnost ale už dvakrát dividendu výrazně seškrtala, když se poptávka po cestování zhroutila.
Host Hotels has paid a special dividend on top of its regular quarterly payout, and its balance sheet looks cleaner than most lodging peers. But the company has slashed its dividend to near zero twice before, and the trigger that…
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Host Hotels & Resorts (NASDAQ:HST) closed at $22.56 on October 2, up 34.75% year to date. In July it paid a $0.72 special dividend on top of its $0.20 regular quarterly payment. Lodging demand is strong right now. Income investors need to know what that payout looks like when travel weakens.
Why AFFO Is the Right Measure REITs record large depreciation charges that lower GAAP earnings without using cash, making an earnings payout ratio misleading. Adjusted funds from operations (AFFO) adds depreciation back and removes one-time items such as gains on property sales. Host’s 2026 AFFO guidance is $2.10 to $2.16 per share. Its $0.80 annualized regular dividend uses about 37% to 38% of that, for a forward yield near 3.5%. In 2025, operating cash flow of $1.502 billion minus $644 million of capex left $858 million.
Peers have less room. Park Hotels & Resorts (NYSE:PK) pays $0.25 a quarter, which is 53% to 57% of its guided AFFO. It also faces $1.4 billion of mortgage debt maturing in 2026, and its weighted average debt maturity is 1.9 years. Pebblebrook Hotel Trust (NYSE:PEB) pays a token $0.01 per quarter. Host has a 4.7-year average maturity, 2.2 times leverage and $3 billion of liquidity after the July payments.
Hotel Rooms Reprice Nightly, and So Does the Cash Hotels set room rates nightly, creating volatility. Host’s comparable RevPAR rose 7% in the second quarter. Management estimates each 100 basis point change in RevPAR moves net income and Adjusted EBITDAre by $32 to $37 million. Fourth-quarter group revenue pace was close to 10%. Transient bookings arrive on short notice and can disappear quickly.
Host Has Cut Its Dividend Twice Before Host cut its dividend twice before. After paying $0.20 per quarter in 2008, it cut to $0.05 that December and $0.01 per quarter through 2010. In 2020, the last payment was $0.20 in April, with no further dividend until $0.03 in March 2022. Operating cash flow fell to negative $307 million for 2020. When demand crashes, the board cuts fast and rebuilds over time.
Verdict: Safe in a Normal Downturn, Exposed in a Shock In a normal downturn, where RevPAR falls by a moderate amount, Host can keep paying the $0.20 regular dividend. A payout under 40% of AFFO, low leverage and investment-grade credit give it a margin of safety that Park lacks. Special dividends will disappear first, because they depend on gains from selling hotels. In a 2020-style shock where demand stops completely, history shows Host will cut again. That reflects how the board handles the payout through demand crashes, with the company rebuilding the dividend once cash flow recovers.
The trigger to watch is AFFO guidance. If Host lowers full-year AFFO guidance below $1.60 per share, the regular dividend would take more than half of AFFO. At that point the safety case weakens, and a reset of the regular dividend becomes a real possibility. Host’s history of cutting fast when demand breaks is the kind of signal we highlighted among the seven warning signs in our free dividend trap guide.
Contact [email protected] for any questions or corrections.
Torex Gold plánuje letos vrátit akcionářům C$350 milionů a letos očekává asi C$600 milionů volného peněžního toku. Zároveň rozšiřuje Morelos v Mexiku, kde směřuje k produkci téměř 450 000 uncí.
Torex Gold Resources (TSE:TXG) outlined plans to build on production from its Morelos property in Mexico, advance the Los Reyes development project and return capital to shareholders as it seeks to close what it described as a valuation gap.
During a company presentation, Andrew, a Torex speaker, said the company’s strategy rests on “strong execution, visible growth, and disciplined capital allocation.” He said Torex expects to generate about C$600 million in free cash flow this year at current spot prices and plans to use that cash flow for growth investments and shareholder returns.
The company said it expects to return C$350 million to shareholders this year through dividends and share buybacks. The program, initially announced in November and increased in May, includes a dividend yield of about 1%, according to the presentation. Morelos Production and Expansion Plans Torex’s flagship Morelos property in Guerrero State, Mexico, is expected to produce close to 450,000 ounces this year. The company said the asset has a 10-year mine life at an annual production rate of about 450,000 ounces, while providing additional opportunities to extend mine life and increase output.
The company completed construction of the Media Luna underground mine, its second underground operation at Morelos, a year ago. Andrew said Media Luna reached design levels in the first quarter, a year ahead of schedule.
Torex is spending a record C$50 million on drilling this year at Morelos, including work at the ELG and Media Luna underground mines and across the Media Luna cluster. The company recently reported drilling results pointing to a potential mineralized area known as the San Miguel Corridor, extending from Media Luna South to Media Luna East.
Andrew said Torex could increase spending on the corridor next year and drill it from west to east. If drilling progresses as planned, the company could declare an inaugural resource for the area in the first quarter of 2028. He said the corridor’s proximity to Media Luna could allow the company to connect any future resource to existing infrastructure, including the Guajes Tunnel and material-handling systems.
Torex also expects first ore from Media Luna North, which would become its third underground mine at the Morelos property, in December. The company said the new mine would shift Morelos from being mine-constrained to plant-constrained, creating additional options for higher production.
A debottlenecking project could increase processing throughput and production by about 10% with approximately C$10 million of capital investment. Torex said benefits from the debottlenecking work could begin as early as late 2027. A separate plant-expansion study is evaluating an increase in throughput to 14,500 tonnes per day, or about 35% above current throughput. The larger expansion is expected to cost about C$100 million, with a potential decision in the first half of next year. Second-Half Production Expected to Improve Torex produced about 200,000 ounces during the first half of 2026 and expects output to rise significantly during the second half, driven by higher grades, Andrew said. The company’s first-half mine plan included more lower-grade secondary stopes because its paste plant, commissioned after coming online in September of the prior year, limited mining flexibility.
With additional stopes now backfilled, Torex expects to mine higher-grade areas in the second half. Andrew said third-quarter performance was tracking to plan and that the company was comfortable producing around the midpoint of its 2026 guidance.
Los Reyes and Exploration Pipeline Beyond Morelos, Torex is advancing the Los Reyes gold-silver development project in Sinaloa. A preliminary economic assessment issued in July outlined a potential 14-year mine life, with production of 161,000 ounces annually during the first 11 years, estimated all-in sustaining costs of C$1,600 per ounce and C$550 million in capital required to bring the project online.
The company has started a pre-feasibility study that it expects to release in the second half of next year. A feasibility study is planned for 2028, followed by a two-year construction period in 2029 and 2030. Torex said it is targeting production at Los Reyes by 2031.
Torex also has five exploration assets, including Griffin and Medicine Springs in Nevada, and three properties in northern Mexico. The company said it is drilling at four of the five projects this year and will advance them based on results and their ability to compete for capital within its portfolio.
Andrew said Torex is applying for a New York Stock Exchange listing and expects the process to be completed in the coming months. He also said the company has received more permits in Mexico over the past 12 months than in the preceding eight years, describing the permitting environment as improving.
About Torex Gold Resources (TSE:TXG) Torex Gold Resources Inc is a Canadian mining company engaged in the exploration, development, and production of gold, copper, and silver from its flagship Morelos Complex in Guerrero, which is currently Mexico’s largest single gold producer.
A high yield on a restaurant stock can mean a bargain or a trap, and the difference comes down to numbers most investors never check before buying.
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Restaurant chains have spent 2026 finding out that weak traffic eventually hits the dividend. Wendy’s (NASDAQ:WEN | WEN Price Prediction) shares have fallen 65.14% over five years, and its board has cut the quarterly payout twice since early 2025. A high yield only matters if the company can keep paying it. Three well-known restaurant names show how fast that ability can wear down, and how to tell real stress from a stock that has simply fallen out of favor.
How a Falling Stock Makes a Yield Look Better Dividend yield is the annual payout divided by the stock’s price. If the price falls and the payout remains the same, the yield goes up on its own, even though shareholders get nothing extra. A struggling company can end up looking generous. A dividend becomes unsustainable when earnings, free cash flow or the company’s financial position can no longer comfortably pay for it. Check all three before you trust any yield.
Wendy’s (WEN): Two Cuts and a Turnaround Plan Still to Come Wendy’s now pays $0.07 per quarter, or $0.28 a year. At a share price of $6.12, that works out to a yield of about 4.58%. That is a high yield from a brand everyone knows. Be careful with stock screens that use the past 12 months of payments ($0.49). They show a bigger number than a new buyer will actually collect.
Here, the warning signs turned out to be real. The quarterly dividend went from $0.25 to $0.14 in 2025, then to $0.07 when the company reported results on Aug. 7, 2026. In the second quarter, U.S. same-restaurant sales fell 7% as traffic dropped 12.5%. Net income fell 40.8%, and management withdrew its full-year guidance. On the earnings call, CEO Bob Wright said: “Traffic is down, our value proposition has slipped, and franchisee economics are under pressure.” Net debt is 5.0 times earnings before interest, taxes, depreciation and amortization (EBITDA). The company also needs to refinance about $430 million of debt due in March 2028.
There is a case for the smaller payout. It equals about 42% of trailing diluted earnings per share (EPS) of $0.66, and first-half free cash flow rose to $120.3 million. Still, the chief financial officer said the new rate runs “slightly above” the company’s usual payout of 50% to 60% of adjusted net income. Things to watch: traffic, and the turnaround plan due with the next quarterly report.
Dine Brands Global (DIN): Profits No Longer Cover the Dividend Dine Brands Global (NYSE:DIN), which has Applebee’s and IHOP, pays $0.19 a quarter, or $0.76 a year. At $29.95, that is a yield of about 2.54%. The low yield is itself the warning. The payout was $0.51 until the company cut it, starting with the December 2025 payment. That was a 62.7% reduction. The stock is down 57.33% over five years.
Even after the cut, the dividend is hard to cover. It equals about 123% of trailing GAAP EPS of $0.62, meaning the company pays out more than it makes. Second-quarter net income fell to $4.3 million from $13.8 million. Adjusted free cash flow for the first half was just $3.7 million, compared with $48.7 million a year earlier. Capital spending rose to $23.2 million from $9.3 million. Shareholders’ equity is negative $292 million. Net interest costs rose to $22.0 million, and cash fell 49.8% to $97.5 million. On top of that, the board approved a new $100 million buyback, which competes with the dividend for very little spare cash.
Adjusted EPS was $1.16 in the second quarter, and management expects remodel spending to “ease as the program advances.” For coverage to recover, Applebee’s same-restaurant sales (down 1.8%) need to turn positive, and the company-owned restaurants need to reach break-even.
Domino’s Pizza (DPZ): A Fallen Stock With a Dividend That Still Holds Up Domino’s Pizza (NASDAQ:DPZ) pays $1.99 a quarter, or $7.96 a year. At $297.62, that is a yield of about 2.67%. The stock is down 29.48% over the past year, which drove the yield up. That makes it a useful test case: trap, or a strong company that investors have soured on?
The numbers say the dividend looks sound. It equals about 45% of trailing EPS of $17.65. In 2025, free cash flow came to $671.5 million, which covered $236.9 million in dividends about 2.8 times. The quarterly payout has gone up every year, from $1.21 in 2023 to $1.99 now.
The risks are real but further down the road. Second-quarter U.S. same-store sales rose just 0.1%, and EPS of $4.07 missed expectations of $4.17. Shareholders’ equity is negative $3.98 billion, with $4.77 billion in securitized notes (debt backed by the company’s franchise fees). Domino’s also spent $156.2 million on buybacks in the second quarter, so it has room to scale those back before the dividend comes into question. The thing to watch is whether flat sales growth holds up long enough to strain the debt.
How to Tell a Yield Opportunity From a Yield Warning A dividend cut usually pulls the stock down too, so a high yield is never a reason to buy on its own. A yield that signals opportunity is covered by earnings and free cash flow with room to spare, on a stock that fell because sentiment turned while the business remains healthy. A yield that signals stress comes with a payout above earnings, cash used up by capital spending or buybacks, and debt rising while traffic falls (we counted seven of these warning signs and put all of them in a free report: Dividend Traps).
Contact [email protected] for any questions or corrections.
CoreWeave má backlog přes 104 miliard USD, ale nese přes 35 miliard USD dluhu. Tržby ve 2. čtvrtletí stouply na téměř 2,6 miliardy USD, zatímco ztráta dosáhla 626 milionů USD.
CoreWeave (CRWV +1.19%) is a stock that many investors struggle with. It is a leader among neocloud companies, and Nvidia's stake in and partnership with CoreWeave gives it a competitive advantage.
Unfortunately, as an emerging company, CoreWeave has had to rely heavily on debt to meet its growing backlog, making its prospects uncertain should the artificial intelligence (AI) boom slow down. Consequently, the question for investors is whether the cloud stock is a buy despite that risk.
Image source: The Motley Fool.
The state of CoreWeave Admittedly, CoreWeave is likely on track for massive gains if it can survive its challenges. Its backlog grew to more than $104 billion as of the end of the second quarter of 2026. Also, since it signed an additional $25 billion deal in early Q3, that figure will almost certainly increase after the Q3 release.
Moreover, it appears to have some pricing power, as Q2 revenue of nearly $2.6 billion increased by 112% from year-ago levels. Amid that growth, it lost $626 million as its interest expense hit $640 million.
Furthermore, its price-to-sales (P/S) ratio of 6 might imply the stock is a screaming buy. Still, from another perspective, it suggests the stock is cheap for a reason.
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That metric inspired my purchase and later exit from the stock as I became concerned about one growing problem: the massive debt load. CoreWeave reported over $14 billion in capital expenditures (capex) in the first half of 2026 after spending $10 billion in 2025. To fund that spending, it has accumulated over $35 billion in total debt, a tremendous burden for a company with $5 billion in book value.
Indeed, the debt may not be a problem if revenue continues to grow rapidly. Still, rising interest rates will probably make this financing more expensive.
Additionally, higher interest rates could put the brakes on a rapidly growing industry, potentially leading to an AI bust. If that were to occur, CoreWeave's ability to service its debt could become uncertain.
Hence, while investors can buy this up-and-coming AI stock cheaply, they also take on tremendous risks by buying now.
Given the level of risk, CoreWeave stock is probably not a buy unless it proves it can survive a pullback in the AI industry.
Indeed, the stock is cheap, and if it can stay afloat amid its debt burden, it could make investors wealthy. For now, it looks like it is doing just that.
However, that could change if rising interest rates or another headwind cause an industry slowdown. It was that issue that persuaded me to sell my shares, at least for now.
Despite that concern, I do not think AI is going away, and I believe the world will need neoclouds regardless of industry cycles. If CoreWeave shows it can survive such an event, I will likely reestablish my position in this stock.
Nonetheless, a rising-rate environment is not one in which I want to own a heavily indebted company, and that risk could outweigh the potential rewards of holding shares right now. Thus, unless one has a high risk tolerance, I do not think investors should own CoreWeave at this time.
Centrus Energy dodává obohacené uranové palivo pro projekty SMR společností Oklo a NuScale a s Oklo plánuje společný podnik pro HALEU. Ve 2. čtvrtletí tržby vzrostly o 14 % na 176,1 milionu USD a čistý zisk činil 16,8 milionu USD.
Investors seeking to cash in on the global nuclear energy resurgence have focused on small modular reactor (SMR) upstarts Oklo (OKLO -0.75%) and NuScale. However, neither company can run one of their future reactors without fuel. That's where Centrus Energy (LEU +0.11%) comes into play, as it supplies the enriched uranium fuel that nuclear reactors need. Centrus recently announced a planned joint venture with Oklo to support growing demand for its specialized nuclear fuel.
Here's a closer look at this lower-risk way to invest in the country's nuclear energy renaissance.
Image source: Getty Images.
Fueling the nuclear renaissanceCentrus Energy supplies nuclear fuel and services to the nuclear power industry. It pioneered the production of High-Assay, Low-Enriched Uranium (HALEU), required for most U.S. reactors to achieve smaller designs (i.e., SMRs). The company's Piketon, Ohio, facility was the first one in the country to receive a license from the U.S. Nuclear Regulatory Commission to produce HALEU.
Several SMR developers, including Oklo, have signed agreements with Centrus to purchase nuclear fuel. Oklo initially signed a letter of intent to purchase fuel for its Aurora Powerhouse Deployment in Ohio earlier this year. The planned 1.2 gigawatt clean energy campus will supply power to Meta Platforms to support its data centers in the region. Oklo and Centrus more recently agreed to pursue a joint venture focused on HALEU deconversion services and advancing related fuel-cycle technologies and supply chains.
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Robust demand is driving real growthOklo and NuScale don't currently generate commercial power, let alone any real revenue or earnings. Centrus Energy, on the other hand, is producing strong, growing financial results. During the second quarter, the company reported $176.1 million of revenue, a 14% year-over-year increase. Meanwhile, it posted $16.8 million of net income during the period.
The company ended the quarter with a $4.5 billion future revenue backlog extending through 2040. That includes $3 billion of HALEU and Low-Enriched Uranium (LEU). It recently signed a $900 million HALEU Enrichment award with the U.S. Department of Energy. Centrus has signed several additional deals since the quarter ended, including a multi-year HALEU contract with Antares Nuclear, a long-term HALEU supply partnership with Radiant, and a HALEU supply deal with X-energy. This growing backlog supports the company's plans to rapidly expand its production capacity to meet future demand, as several deals include pre-payments to help fund the expansion.
Why try to pick an SMR winner when you can invest in the company fueling them allThere's a lot of debate about which nuclear energy stock is the best to buy to capitalize on the country's nuclear renaissance. However, instead of betting on which pre-revenue SMR start-up will win, you can invest in the company that will fuel their reactors. That makes Centrus Energy a lower-risk way to capitalize on the country's nuclear energy resurgence, as it should win no matter which SMR developer emerges as the eventual leader.
Matt DiLallo has positions in Meta Platforms and has the following options: long December 2028 $650 calls on Meta Platforms and short December 2028 $660 calls on Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
Meta Platforms souhlasila s přibližně 18miliardovým vyrovnáním ohledně bezpečnosti mládeže, splatným v ročních splátkách po dobu 10 let po schválení soudem. Ve 3. čtvrtletí čeká asi 10miliardový účetní náklad.
What happened Meta Platforms, Inc. (NASDAQ: META) agreed in August to an approximately $18 billion youth-safety settlement with 52 attorneys general. The payment is scheduled in annual installments over 10 years, pending judicial approval.
About $12.7 billion is allocated to participating states. The remaining approximately $5.3 billion is released only if YouTube and TikTok adopt specified protections and each makes a matching payment. Meta Platforms, Inc. (NASDAQ: META) expects to accrue an approximately $10 billion legal expense in the third quarter.
Read more: Meta Platforms (META) stock analysis and investment case Why it matters The quick answer is no: the approximately $18 billion headline is neither a fixed near-term cash bill nor the expected third-quarter accounting charge. State attorneys general describe the settlement as up to $17.1 billion, reinforcing that the public figures are estimates of a structured agreement, not one certain check.
The decisive number is 29.4%. Divide the approximately $5.3 billion conditional portion by the $18 billion headline. Nearly three-tenths of the announced amount depends on rival platforms adopting protections and funding their shares.
The approximately $10 billion expected charge is still material. In the second quarter, Meta Platforms, Inc. (NASDAQ: META) produced $31.9 billion of operating cash flow, but only $784 million of free cash flow after $31.1 billion of capital spending and finance-lease payments. An accrual is not the same as immediate cash outflow, but the comparison shows why investors cannot wave the settlement away.
The strongest countercase is not just the payment. Default time limits, night restrictions, age assurance and independent audits could raise compliance costs or change teen engagement. Other youth-related cases can also create losses outside this agreement. None of those effects is quantified yet.
Related: Can Meta Platforms, Inc. (NASDAQ: META) Win Enterprise AI?
What's next The next earnings report should confirm the final third-quarter charge, balance-sheet treatment and cash-flow effect for Meta Platforms, Inc. (NASDAQ: META). Investors should also watch whether YouTube and TikTok trigger the conditional funds and whether Meta changes guidance.
That evidence can change the answer. A smaller charge and slow cash schedule would limit the near-term financial hit. Higher implementation costs, weaker engagement or additional legal losses would make the settlement a broader earnings problem.
More from OptimistFi META stock: the Meta Platforms thesis, its status and the next test to watch Meta VR Glasses Put Reality Labs' Losses Back in Focus Is AI Spending Paying Off for Meta Platforms, Inc. (NASDAQ: META)? Century Therapeutics, Inc. (NASDAQ: IPSC) Adds Two CNTY-813 Batches Stock research on every company OptimistFi covers Latest stock research and investment-case updates OptimistFi: evidence-first equity research Sources Meta Platforms, Inc. (NASDAQ: META) youth-safety settlement terms — Published August 26, 2026. Approximate $18 billion headline, $12.7 billion state allocation, $5.3 billion conditional portion, 10-year installments and expected $10 billion third-quarter expense. Meta Platforms, Inc. (NASDAQ: META) second-quarter 2026 results — Published July 29, 2026. Operating cash flow, free cash flow, capital spending, liquidity, debt and outstanding youth-related legal risk. New York Attorney General settlement announcement — Government description of the participating states, monetary structure and mandatory teen-account reforms. Photo: Meta Platforms headquarters entrance by LPS.1 — Authentic file photograph taken March 27, 2022, at Meta's Menlo Park headquarters. Original photograph unchanged; responsive display may crop. Photo license: CC0 1.0 Universal — LPS.1 dedicated the photograph to the public domain under CC0 1.0. Read the full OptimistFi thesis on Meta Platforms, Inc.: https://optimistfi.com/stocks/META
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Amazon Web Services slibuje přes 1 miliardu USD během pěti let na podporu komunit kolem amerických datových center. Cílem je zmírnit odpor, který může ohrozit jeho 496miliardový objednávkový backlog.
Amazon just pledged over a billion dollars near its data centers without purchasing a single piece of hardware, and the reason reveals a threat to its $496 billion backlog that no amount of chips can solve.
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Headline Number: $1 Billion for the Neighbors On October 2, 2026, Amazon (NASDAQ:AMZN | AMZN Price Prediction) attached a dollar figure to something no chip plant can make: permission to build. Amazon Web Services committed more than $1 billion over the next five years to the communities around its U.S. data centers. The spending flows through a program called Built Together. The money goes to job training, water preservation and energy affordability. Those are the same three complaints that fill council meetings whenever a new server farm is proposed. None of it buys a GPU.
The pledge comes as local pushback grows. Amazon says more than 100 data center moratoriums are under consideration across the country. AWS chief executive Matt Garman announced the program in a post that compared data center construction to the building of the interstate highway system. He warned that if those bans pass, “the US could be writing its own losing ticket to this race, and the consequences would last generations.”
What It Means for the AWS Buildout Amazon is, in effect, buying community acceptance, and its own economics explain why. Capital expenditures reached $54.21 billion in Q2 alone, up 68.44% year over year. The community pledge is a small line item spread over five years, and its purpose is to protect that much larger capital spending.
Timing is what makes local opposition expensive. Chief Executive Andy Jassy spoke on July 30. On the earnings call, he said “data center capital is spent starting two years before we can put servers into them to start monetizing.” Once a facility opens, Amazon can earn from it for 30-plus years. If a bans stalls a site in its first year, the money spent so far earns nothing while the project waits.
The demand is already committed. AWS backlog was at $496 billion, growing triple digits year over year. Management said most of the AWS capacity planned for 2027 is already reserved. Most AI capacity is signed for at least five-year terms. Each of those contracts needs a building, a grid connection and a town willing to host it.
Residents’ concerns rest on data. After 15 years of nearly flat use, U.S. electricity demand has grown 2.1% per year on average over the last five years. The federal Energy Information Administration lists data center server energy use as a major factor in demand going forward. The average individual data center load doubled from 150 to 300 megawatts between 2023 and 2024. The energy affordability part of Built Together addresses directly to that pressure.
This is also Amazon’s third recent $1 billion commitment that goes to something other than chips. In Q2, Amazon announced a $1 billion investment in AWS Forward Deployed Engineering, with early customers including the NBA, NFL, and Southwest Airlines (NYSE:LUV). It also committed up to $1 billion in cloud credits to help the U.S. Intelligence Community move to the cloud.
How Shares Responded to the $1 Billion Pledge On the day of the announcement, shares closed at $251.52, up 1.33% from $248.23 in a single session. The stock is up 8.97% year to date and down 1.36% over the past month. Recent coverage has focused on competitive concerns, which Barron’s described as “overstated”.
Bull Case For Amazon, the limit on growth is how fast it can add capacity, and each new site needs local approval. AWS revenue reached $42.23 billion in Q2, up 37%, its fastest growth in 18 quarters. The unit’s operating margin was 39.4%. Amazon’s AI and chips businesses each passed $25 billion annual run rates, and each is growing at triple-digit rates. Amazon Bedrock customers spent more in Q2 than all prior quarters combined.
Amazon also has the cash to keep the program going. Operating cash flow reached $45.39 billion in the quarter, up 39.59%. Management remains on track to double its power capacity by the end of 2027 versus 2025. Jassy discussed AWS. He said the unit could “very possibly be a trillion-dollar annual revenue business for us in time.” The main risk remains cash generation: trailing free cash flow is -$7.6 billion, and the pledge adds another cost. Still, keeping sites on schedule protects a $496 billion backlog.
What Amazon’s Next Earnings Report Must Show Built Together turns local approval into a budgeted cost of doing business, much like land or power. Amazon’s next quarterly report will be measured against guidance of $197.0 billion to $202.0 billion in net sales and $22.5 billion to $26.5 billion in operating income. That compares with $17.4 billion a year earlier. Investors should watch whether AWS growth holds up as new sites come online, and if the pledge keeps those sites on schedule, $1 billion in community spending will have protected hundreds of billions in signed revenue.
Contact [email protected] for any questions or corrections.
Jim Cramer shocked viewers by questioning his loyalty to Amazon on live television after watching a Meta AI demo, and the timing landed against a backdrop of sharply diverging stock moves that has Wall Street debating which company controls the…
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Jim Cramer said it live on CNBC’s Squawk on the Street on September 28, 2026, after seeing a demonstration of a new AI shopping capability from Meta Platforms (NASDAQ:META | META Price Prediction): “I’m an Amazon guy, but maybe I shouldn’t be. This seemed impressive.” He made the comment during the full Squawk on the Street discussion on CNBC. He was speaking as a shopper, with his comment limited to his own buying habits.
Meta Gained 24% While Amazon Slid Into His Remarks From August 28 to September 28, 2026, Meta rose 23.89%, from $577.61 to $715.62, according to CNBC. Over the same window, Amazon (NASDAQ:AMZN) fell 7.61%, from $266.43 to $246.15.
Since then, Amazon’s decline has narrowed. At the October 2 close, Meta traded at $728.08 and Amazon at $251.52. For the trailing month from September 2 to October 2, Meta is up 22.9%, and Amazon is down 1.36%. The gap is still wide, and both moves reflect factors beyond Cramer’s comments. Recent coverage has tied Amazon’s decline to concerns about Meta’s Muse AI, which The Wall Street Journal called Amazon’s “Muse Blues,” while Barron’s said those threats are “overstated.”
Why a Raincoat Search Puts Amazon’s Front Door at Risk Cramer compared it to Amazon’s Rufus assistant, which he uses today: “Look, I want the cheapest raincoat, the quality raincoat.” What he now wants is an assistant that will “scour the world for the cheapest raincoat and then maybe I’ll go buy it.”
Structurally, an assistant that searches one retailer’s catalog is a feature of that retailer. An assistant that searches everywhere sits above every retailer. That threatens Amazon’s most valuable asset: being the default place shoppers start. That default supports Amazon’s $19.8 billion advertising business, which grew 26% last quarter and leads with sponsored products. Jim Cramer described the stakes this way: “I don’t know, I just feel like it’s 3 billion people that are up for grabs.” Meta already reaches 3.60B daily active people across its apps.
Amazon has its own answer. Management said over 350 million customers used Alexa for Shopping in the past 12 months, and that those users spend over 40% more per order. Meta launched Meta Enterprise the same morning Cramer spoke, and he said Meta has a “first mover advantage” in this area. None of this shows that either assistant performs better on any tested basis.
Fundamentals Behind Both Names In Amazon’s second-quarter 8-K filing, AWS revenue rose 37% to $42.23B, its fastest growth in 18 quarters. Meta grew revenue 28%, but its EPS of $6.18 missed the $7.22 estimate, and it guided 2026 capex to $130-$145B. Meta trades at about 27 times earnings and Amazon at about 35.
Cramer’s Limit and What Would Have to Change The comments came three days after Cramer listed Amazon on Mad Money as a recession-proof buy. He also set a firm limit on AI assistants: “If you really want to entrust it with your cash sweep, good luck. I wouldn’t do that.”
For Amazon to lose its position, shoppers would have to start their product searches somewhere else in large numbers. Investors can check for that in Amazon’s next earnings reports. Warning signs would include ad growth slowing from 26%, paid units growing more slowly than last quarter’s 17%, and lower engagement with Alexa for Shopping. On Meta’s side, the test is whether its agents start making purchases outside its own apps.
Contact [email protected] for any questions or corrections.
Amazon jedná o přesunu čipů NVIDIA za 8 miliard USD do speciálního účelového vozidla, které je koupí a následně pronajme zpět. Cílem je udržet hardware v provozu a zároveň část závazků přesunout mimo rozvahu.
Amazon is quietly restructuring who actually owns the AI hardware powering its data centers, and the investors taking the other side of that deal may not realize what depreciates fastest in Silicon Valley.
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Amazon (NASDAQ:AMZN | AMZN Price Prediction) is in talks to move $8 billion of NVIDIA (NASDAQ:NVDA) Grace Blackwell chips into a special purpose vehicle, the Financial Times reported. The vehicle would sell debt to outside investors, buy the chips, and lease them back to Amazon. The hardware stays where it is. It is already installed in data centers across at least five states, and Amazon would keep up to 10% of the equity.
Amazon spent $54.2 billion on capital projects in the second quarter, 68% more than a year earlier. Andy Jassy committed to roughly $200 billion in spending for 2026. Free cash flow over the past 12 months turned negative at -$7.6 billion. Long-term debt rose to $119.1 billion from $65.6 billion a year earlier. A leaseback lets Amazon keep running the chips while protecting its credit rating and moving the obligation into lease disclosures.
Investors Would Own Tech’s Fastest-Aging Asset The deal is smart for Amazon and weak for whoever buys the debt. Airlines do sale-leasebacks on planes that fly for decades. Grace Blackwell is already one generation behind Vera Rubin. NVIDIA says Vera Rubin delivers 35X lower token costs than Grace Blackwell Ultra. NVIDIA estimates about $25 billion per gigawatt of revenue for Grace Blackwell and roughly $40 billion for Vera Rubin. Each new launch makes the collateral worth less.
On the July earnings call, Jassy said servers take “a little less than three years” to break even and last at least five to six years. Amazon keeps the early, profitable years. Lenders are left with later years, when a chip two generations old must be refinanced or resold.
NVIDIA Is Building Similar Financing Structures NVIDIA is building similar structures. NVIDIA reported $279 billion in supply commitments and guarantee obligations limited at $108.5 billion for AI cloud and data center partners. It signed up six asset managers and banks to raise more than $500 billion of outside capital for AI infrastructure. Management said: “We know some will call this circular financing.” NVIDIA expects the AI labs it supports to account for roughly a quarter of its business next year.
Demand for computing power remains intense. NVIDIA says it can supply about 70% of what customers want. Having chips that lose value quickly carries risk. Amazon is choosing cash over hardware ownership. Buyers want what the chips produce and are passing on the risk of having them to someone else.
What to Watch in Amazon’s Next Two Earnings Reports Three signals will show whether this becomes the template. First, whether Amazon’s third-quarter earnings report reveals the vehicle and how much its lease obligations grow. Amazon has guided to $22.5 billion to $26.5 billion in operating income for the quarter. Second, the interest rate investors demand on the debt.
A wide spread would mean lenders are pricing in an aging risk that stock investors have ignored. Third, whether other cloud giants announce similar deals within two quarters. Should they do so, more of AI’s hardware bill will sit off the balance sheets investors read, and lenders will be left holding chips that NVIDIA is working to make obsolete.
Contact [email protected] for any questions or corrections.
JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, October 6th will be given a dividend of $1.65 per share by the financial services provider on Saturday, October 31st. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, October 6th. This is a 10.0% increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50.
JPMorgan Chase & Co. has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. JPMorgan Chase & Co. has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $25.21 per share next year, which means the company should continue to be able to cover its $6.60 annual dividend with an expected future payout ratio of 26.2%.
JPMorgan Chase & Co. Stock Down 0.3% NYSE JPM opened at $332.18 on Friday. The business has a fifty day moving average price of $352.44 and a 200 day moving average price of $327.11. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $882.99 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.39 and a beta of 1.02. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the previous year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 24.11 EPS for the current fiscal year. Key Stories Impacting JPMorgan Chase & Co. Here are the key news stories impacting JPMorgan Chase & Co. this week:
Positive Sentiment: JPMorgan’s strong earnings-surprise history and favorable Zacks indicators suggest the bank may again exceed estimates in its upcoming quarterly report. Will JPMorgan Chase & Co. Beat Estimates Again? Positive Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation, supporting the view that JPM’s valuation remains attractive despite recent weakness. JPMorgan Receives Moderate Buy Consensus Positive Sentiment: J.P. Morgan Payments partnered with Al Salam Bank on an overnight Murabaha liquidity solution, expanding its payments and Islamic-finance capabilities in Bahrain. Al Salam Bank and J.P. Morgan Payments Feature Liquidity Solution Positive Sentiment: The Federal Reserve’s revamped stress-testing framework could reduce volatility in banks’ capital requirements and improve planning visibility for JPMorgan. Fed Revamps Bank Stress Tests Positive Sentiment: JPMorgan remains highlighted as an income-oriented stock with an upcoming dividend ex-date, which may support demand from dividend investors. High-Yield Dividends With Ex-Dates Days Away Neutral Sentiment: JPMorgan’s bond-market activity shows continued access to wholesale funding, but investors are assessing whether the additional borrowing improves growth or pressures the capital structure. JPMorgan Taps Bond Markets Neutral Sentiment: The elevation of Doug Petno and Troy Rohrbaugh to co-presidents advances succession planning, but also increases investor focus on the eventual replacement for CEO Jamie Dimon. JPMorgan Elevates Co-Presidents Negative Sentiment: JPMorgan’s credit-loss reserve grew even though provisions declined year over year during the first half of 2026. The unusual combination may signal conservatism, but it also raises questions about management’s expectations for future loan losses ahead of third-quarter results. JPMorgan Reserves for Losses That Have Not Arrived Negative Sentiment: Broad selling across money-center banks has weighed on JPMorgan and the wider financial sector, reflecting reduced investor risk appetite rather than a company-specific catalyst. Bank Stocks Slide (Get Free Report)
JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.
The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.
JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.
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McDonald’s spustil víceletý plán NEXT za 8,5 miliardy USD, který má zvýšit růst, produktivitu a přilákat zpět zákazníky. Akcie mezitím 1. října spadly na nové 52týdenní minimum 229,61 USD.
This is a fair market value price provided by Massive. Learn more.
$229.61▼
$341.753.21%
18.85
$300.64
September delivered mixed signals for McDonald’s NYSE: MCD shareholders, including a landmark dividend achievement, before the stock opened October by falling to a fresh 52-week low.
On Sept. 17, the board of the fast food restaurant chain declared a quarterly cash dividend of $1.93 per share, marking a 4% increase and the company’s 50th consecutive year of raising its payout.
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According to Executive Vice President and Global Chief Financial Officer Ian Borden, the “milestone is the result of decades-long commitment to maintaining [McDonald’s] financial discipline and rewarding [its] shareholders."
But lately, those shareholders haven’t been feeling all that rewarded. After joining the elite Dividend Kings club, the stock hit a fresh 52-week low of $229.61 on Oct. 1, reaching prices not seen since September 2022.
Now, the nearly $164 billion market cap company is hoping a multi-year strategic plan can win back consumers and serve as the catalyst to restore investor confidence.
McDonald’s > NEXT: The Fast Food Giant’s Comeback PlanThe fast food industry’s recent struggles have been well-documented. In August, Restaurant Business Magazine’s Jonathan Maze wrote that while McDonald’s same-store sales increased 0.8% in Q2, traffic to its restaurants declined.
Affordability continues to be the main challenge. Maze noted that “McDonald’s lost sales from lower-income consumers totaled $310 million last quarter alone.”
That, among other factors, has tempered growth expectations for the industry at large. According to consultancy firm Grand View Research, the global fast food market is forecast to undergo a 5% compound annual growth rate (CAGR) between 2022 and 2029.
Domestically, the outlook is worse. The U.S. fast food market is expected to see a CAGR of just 3.9% between 2022 and 2028.
McDonald’s is already planning to address its own growth and productivity challenges. On June 1, the company launched a new multiyear strategic plan called McDonald's > NEXT, which it hopes will usher in its next era of productivity and growth.
The $8.5 billion plan calls for revamping employee training programs for the chain’s approximately 2 million workers, investing billions into upgrading franchisees’ equipment and technology—including advanced back-of-house operational systems and AI-enabled tools—improving dining room spaces, and aiming for higher food quality.
Of that dollar amount, McDonald’s has earmarked $5 billion to be spent through 2030 on a combination of rent relief and capital support. In his Q2 earnings call comments, CEO Chris Kempczinski said the new growth strategy has a singular objective: to make McDonald’s the first choice for more customers, more often.
Despite Ambitious Plans, McDonald’s Still Faces Structural ChallengesOn Sept. 23 at its investor day, the company laid out plans for two connected tools that are critical components of its McDonald’s > NEXT initiative.
The first is a pricing engine that combines transactional data and local market data to make restaurant- and item-level price recommendations while ultimately leaving pricing decisions up to franchisees.
The second is a customer-engagement engine that will personalize experiences through offers and rewards to encourage its existing 220 million 90-day active loyalty members to visit more frequently and upgrade to higher-priced items.
McDonald’s hopes that the initiative will result in a 1.5% gain in market share in both the chicken and beverage categories by 2030, while maintaining its leadership position in beef and expanding operating margins to the low-to-mid 50% range by 2030, with a 2.5% increase in gross restaurant-level efficiency. The company currently enjoys high margins, and how much its new strategic plan can increase them is yet to be determined.
Another perhaps more pressing issue is the aforementioned disconnect between pricing and lower-income customers. AI-informed pricing recommendations alone will not sufficiently address record-high ground beef prices, ongoing inflation, and the subsequent fallout for fast food chains.
After decades of establishing brand loyalty through value menu offerings, McDonald’s has been trying to rebuild its value proposition as lower-income consumers pull back. The cost of a Big Mac in 2000 was approximately $2.24, or $4.27 in today’s dollars. Yet the average price of a Big Mac in 2026 is closer to $7, while a Big Mac combo meal with fries and a drink can run as high as $18.
In doing so, McDonald’s has been able to squeeze more profit per transaction from middle- and higher-income consumers who have been willing to absorb those price hikes, while abandoning the lower-income staple of its customer base.
McDonald’s Needs a Fix, and AI Might Not Be the AnswerIf McDonald’s > NEXT is the company’s answer to its recent troubles, it has some heavy lifting to do. In Q2, revenue growth slowed to 3.74% after registering 9.42% in Q1 and 9.71% in Q4 2025. Meanwhile, net income growth slowed to 4.84%.
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McDonald’s also pushed its target of reaching 50,000 global locations to 2028 from 2027, attributing the delay to inflationary development costs and a pressured consumer environment.
The company’s financial health, as measured by TradeSmith, has been in the red zone for over five months, and while the stock’s forward price-to-earnings ratio of 17.99 may suggest it is undervalued to some investors, recent price action remains bearish.
Short interest stands at just 1.73% of the float, but in dollar terms, that equates to $3.08 billion worth of MCD, which remains near multi-year highs. At the same time, corporate insider buying has dried up, with no insider purchases reported over the past 12 months. Institutional activity, however, has remained net positive. Institutional buying totaled $16.40 billion from 2,170 buyers over the trailing 12 months, compared with $8.78 billion in outflows from 1,741 sellers, while insider buying stood at zero over that period. Shares are down around 24% year to date, including a more than 32% slide from their all-time intraday high of $341.75 on March 2.
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Micron ve fiskálním roce 2026 zvýšil tržby o 256 % na rekordních 133,1 miliardy USD a zisk na akcii o 879 % na 74,33 USD. Firma očekává, že nabídka pamětí zůstane napjatá i ve fiskálních letech 2027 a 2028.
Graphics processing units (GPUs) are the most important data center chips for processing artificial intelligence (AI) workloads, which is why investors have piled into suppliers like Nvidia and Advanced Micro Devices over the last few years. However, GPUs require an increasing amount of high-bandwidth memory (HBM) to keep data flowing smoothly. Without it, bottlenecks would throttle the performance of AI chatbots and agents.
Micron Technology (MU -2.05%) is one of the world's top suppliers of memory, and it's experiencing significant AI-related demand across multiple categories, including the data center. As a result, its revenue and earnings are growing at an explosive rate, fueling a whopping 500% gain in its stock over the last 12 months (as of the market close on Thursday, Oct. 1).
Can the rally continue, or have investors already priced in most of the company's future growth?
Image source: The Motley Fool.
Micron just reported a blockbuster set of results for fiscal 2026 Micron wrapped up its 2026 fiscal year on Sept. 3. The company generated a record $133.1 billion in total revenue, a staggering 256% increase from the previous year. That growth rate accelerated significantly from fiscal 2025 when revenue increased by 49%.
AI-related demand for memory fueled the incredible result, and it didn't come solely from the data center industry. Below are Micron's four business units, their fiscal 2026 revenue, and their growth rates.
Segment
Fiscal 2026 Revenue
Growth (Year Over Year)
Cloud Memory
$43.1 Billion
219%
Core Data Center
$37.6 Billion
420%
Mobile and Client
$36.6 Billion
209%
Automotive and Embedded
$15.9 Billion
234%
Data source: Micron Technology.
The cloud memory segment is where Micron accounts for memory sales to hyperscale customers (including companies like Amazon and Microsoft), as well as HBM sales to all data center customers. The core data center business includes sales of storage and non-HBM memory solutions to data center operators.
The mobile and client segment includes memory sales to manufacturers of smartphones and personal computers. This is an increasingly important category because AI models are quickly becoming more efficient, so many devices can now process them locally rather than relying on external data centers.
Finally, the automotive and embedded business is where Micron accounts for memory sales to car and robot manufacturers. The company says vehicles fitted with Level 4 autonomous capabilities (full self-driving) require more than double the memory and storage capacity than vehicles with older Level 2 and Level 3 technologies. Moreover, humanoid robots are expected to use as much memory as Level 4 autonomous vehicles, so both of these emerging industries present Micron with an enormous opportunity.
In a series of prepared remarks to shareholders released on Sept. 30, Micron Chief Executive Sanjay Mehrotra said memory supply could be even tighter in fiscal 2027 and fiscal 2028 compared to fiscal 2026, suggesting the company's revenue is likely to continue growing at a brisk pace.
Micron stock is technically cheap, but there's a catch The ongoing global shortage of memory is giving suppliers the ability to dictate prices, significantly boosting their profit margins. As a result, Micron's earnings exploded higher by 879% to $74.33 per share during fiscal 2026. That places its stock at a price-to-earnings (P/E) ratio of just 14.7, so it's cheaper than both the S&P 500 and the Nasdaq-100 indexes which trade at P/E ratios of 23.5 and 35.2, respectively.
Wall Street's average estimate (provided by Yahoo! Finance) suggests Micron could grow its earnings to $176.69 per share in fiscal 2027, placing its stock at a forward P/E of just 6.2. But why is a company growing at Micron's pace trading at such a steep discount to the broader market? Simply put, the semiconductor industry has always been highly cyclical, so investors know the recent bonanza probably won't last forever.
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Micron and its competitors are racing to build more manufacturing capacity, which will eventually ease supply constraints and put downward pressure on prices. Micron won't be able to maintain its current level of earnings when that time comes, so its stock might be more expensive than it currently appears at face value. Plus, the rising cost of chips and components could significantly impact demand in the near future.
Last Tuesday, ChatGPT creator OpenAI launched a new $500-per-month subscription plan to suit its heaviest users. At the same time, it halved the number of tokens available through its $200-per-month subscription, which used to be its top plan. In essence, the company has increased the price of its most expensive offering by 150% overnight, and rising infrastructure costs are almost certainly the reason why.
A few months ago, a survey conducted by UBS Group found that 60% of businesses were already routing some AI tasks to cheaper, more efficient models in an effort to reduce costs. These models use less computing power, so if this trend continues, Micron and every other semiconductor company could see a gradual drop in demand.
With all of that in mind, I personally won't be buying Micron stock at the current price. I'm not predicting it will suffer a sharp decline in the near term, but it's very difficult to determine its fair value given the potential shift in supply demand dynamics over the next couple of years.
SummaryMicron generated $54.2 billion in Q4 revenue, an 87% gross margin, and $33.2 billion of free cash flow.Twenty-six strategic agreements now carry $32 billion of customer commitments, with $12.7 billion of deposits already received.Customer deposits effectively help finance Micron’s expansion, while government incentives further reduce the capital shareholders must ultimately fund.MU trades near 6.1x FY1 non-GAAP earnings despite $150 billion RPO and supply constraints expected through 2028. jxfzsy/iStock via Getty Images
The market is still treating Micron Technology (MU) on the premise of how sustainable its extraordinary memory pricing will prove to be. I'm less inclined to believe that this approach to the stock is most
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Eli Lilly má v pipeline retatrutid, který ve 3. fázi vedl u pacientů s diabetem k průměrnému úbytku až 20,8 % hmotnosti za 80 týdnů. Firma plánuje podat žádost o schválení v 1. čtvrtletí roku 2027.
Healthcare stocks have lagged broader equities over the past few years, but the company that is now the largest in that sector, Eli Lilly (LLY -0.61%), has delivered outstanding returns. One of the most important reasons for the drugmaker's run is that it has emerged as the leader in the anti-obesity market. Eli Lilly's Zepbound is currently the best-selling medicine in this niche, and it is posting outstanding sales growth. However, Eli Lilly has several pipeline candidates, and one of them could be even better than Zepbound.
Image source: The Motley Fool.
Triple G for the winZepbound was a breakthrough. It became the first medicine to mimic the GLP-1 and GIP gut hormones and be approved for weight loss. Its main competitor, Wegovy, only mimics GLP-1. The dual hormonal pathway approach has proved highly effective. Zepbound has produced greater weight loss than Wegovy in head-to-head trials.
Eli Lilly is going one step further with its next-gen medicine, retatrutide. This investigational therapy mimics the actions of GLP-1, GIP, and glucagon.
Eli Lilly dubbed it "Triple G." Does the fact that retatrutide mimics the action of three gut hormones result in greater weight loss than Zepbound?
So far, the data suggest an affirmative answer to that question. Phase 3 study results for retatrutide are out, and they are excellent. For instance, in one Phase 3 study, patients who had type 2 diabetes and were either overweight or obese lost an average of up to 20.8% of their body weight over 80 weeks.
This is significant because people with diabetes typically have a much harder time dropping pounds. It's always hard to compare across clinical trials, but note that Zepbound helped a similar population of patients lose up to 15.7% of their weight.
These weren't head-to-head studies, and retatrutide's trial was longer. Still, the medicine's results have been excellent. We could also point to retatrutide's up to 28.3% average weight loss in patients who were overweight or obese, compared to Zepbound's 20.2% average in a similar population.
Retatrutide has also shown strong clinical trial results in other conditions, including obstructive sleep apnea, reducing severity by up to 60.6% in a Phase 3 study. The medicine is undergoing several additional studies and could be used to treat many indications. Eli Lilly plans on formally requesting approval for the medicine in the first quarter of 2027.
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An embarrassment of richesMany companies are looking to enter the weight loss market and challenge Eli Lilly. On the one hand, that poses a problem for the pharmaceutical company. More weight loss drug launches will lead to more competition and, potentially, less pricing power for the healthcare giant. But there are at least two reasons why investors should be cautiously optimistic about the company's prospects.
First, the anti-obesity market is growing fast and should continue to do so for at least the next five years. Estimates vary, but according to some research, the weight-loss market will grow at a compound annual rate of 27% through 2036. So, there should be more than enough space for multiple winners.
Second, Eli Lilly's pipeline suggests the company could remain the undisputed leader in this market for a while.
It's not just retatrutide either. Consider another one of the company's promising candidates: eloralintide. This medicine mimics the action of the amylin hormone. Eli Lilly recently posted Phase 2 study results for the combination of eloralintide and tirzepatide (the active ingredient in Zepbound) for patients who were either overweight or obese and had type 2 diabetes.
The combo treatment led to a mean weight loss of 23.3% in a mere 48 weeks, beating tirzepatide's mean weight loss of up to 14.8% in the same study. Lilly plans to start Phase 3 clinical trials for this combination treatment in the fourth quarter. In another mid-stage clinical trial, eloralintide demonstrated GLP-1-like efficacy and strong tolerability, which could particularly appeal to patients who avoid weight-loss medicines due to side effects.
Eli Lilly has additional pipeline candidates, including many outside its core therapeutic area, as the company has sought to diversify in recent years. Investors should expect significant clinical and regulatory progress over the medium term. In the meantime, Eli Lilly could continue to post excellent financial results and deliver above-average market returns.
Broadcom souhlasil, že Anthropic poskytne až 42 miliard USD, což vyvolává obavy z kruhového financování, protože firmě zároveň dodává čipy i pronajímá zařízení.
Broadcom just agreed to lend billions to the same AI lab it sells chips to, lease equipment to, and may soon own a stake in. That four-way entanglement raises a question shareholders cannot yet answer: whose demand is actually driving…
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Broadcom’s $42 Billion Number Makes the Supplier the Lender Broadcom (NASDAQ:AVGO | AVGO Price Prediction) has agreed to lend Anthropic up to $42 billion, according to the AI lab’s IPO filing, as reported by Reuters on October 1, 2026. The money pays for Anthropic’s infrastructure spending, and much of that spending goes to Broadcom hardware. The debt can also convert into Anthropic shares. Broadcom now plays four roles in this relationship: chip supplier, equipment lessor, lender, and possible future shareholder.
What $42 Billion Shows About Broadcom’s AI Growth The facility could cover about one-third of Anthropic’s $125.2 billion five-year TPU compute commitment. That commitment supports Broadcom’s AI plan. On the September earnings call, management said it expects Anthropic to become its largest XPU customer in 2027 and to hold that spot in 2028. Broadcom is installing one gigawatt of Ironwood chips for Anthropic in 2026. Anthropic is expected to installing five gigawatts of TPU v8i chips in 2027, and Broadcom says it has “clear line of sight” to an extra 10 gigawatts in 2028.
Those installations support Broadcom’s AI revenue outlook of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028. The $42 billion facility tops the $23.975 billion in cash Broadcom held at the end of its third quarter.
The loan adds to earlier financing support. In June, Broadcom set up a financing platform with Apollo Global Management (NYSE:APO) and Blackstone (NYSE:BX). Its first $35 billion tranche closed that month to pay for Anthropic’s one-gigawatt installations. Management said at the time that third parties would insure those assets and that Broadcom would provide no direct financing, though it might offer “modest residual value guarantees.” Broadcom lending directly to Anthropic is a much deeper commitment.
How Broadcom Stock Reacted to the News Barron’s reported on October 1 that Broadcom stock rose as the two companies became more closely tied. On the next trading day, October 2, shares gained 3.35%, from $343.64 to $355.14. CNBC listed Broadcom among that day’s biggest noon movers.
Over a longer stretch, the stock has gone almost nowhere. Shares changed -0.39% from September 3 through October 2, and they remain well below the 52-week high of $493.28.
Bear Case: Broadcom Is Financing Its Own Demand Broadcom’s operating results are strong. Third-quarter revenue reached $29.59 billion, up 85.5% from a year earlier, and free cash flow was $13.665 billion. The concern is how much of the future revenue depends on Broadcom’s own credit.
Anthropic’s filing flags the conflict. Anthropic itself warns that Broadcom’s two roles as supplier and lender create “potential conflicts of interest” involving pricing and hardware decisions. Default terms work against both sides. Anthropic put cash into a restricted account for Broadcom’s benefit in April 2026 and may have to add more. If Anthropic misses payments or other obligations, much of what it owes on its leases could come due at once, and its access to the loan could be limited at the same time. Exposure is hard to measure. On the call, management would not give a maximum figure for future guarantees. It said future deals would have “unique features” tailored to each lab. An analyst noted the first tranche carried maximum exposure of about $29 billion. The customer list is short. Broadcom has only six XPU customers, and its filings list customer concentration and “significant indebtedness” as risks. Gross fixed-rate debt stands at $59.6 billion. Reuters described the deal as part of a broader industry pattern, comparing it with NVIDIA (NASDAQ:NVDA) using its balance sheet to support chip sales. Shareholders end up carrying credit risk tied to a single AI lab, while the stock still trades at 45x trailing earnings.
Bottom Line: Anthropic’s IPO Is the Key Test The $42 billion figure shows how much of Broadcom’s path to $230 billion in fiscal 2028 AI revenue depends on one customer that Broadcom is also helping to pay for. The next major event is Anthropic’s IPO. Management said the listing could change Anthropic’s credit profile, and it would also show what Broadcom’s possible equity stake is worth. Before that, Broadcom has guided fourth-quarter revenue to about $34.80 billion and AI semiconductor revenue to $21.70 billion. Long-term holders will need to judge whether that growth comes from customers’ own spending or from Broadcom’s lending.
Contact [email protected] for any questions or corrections.
The Bank of Nova Scotia (TSE:BNS – Get Free Report) (NYSE:BNS) declared a quarterly dividend on Tuesday, October 6th. Stockholders of record on Wednesday, October 28th will be paid a dividend of $1.14 per share by the bank on Wednesday, October 28th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, October 6th.
Bank of Nova Scotia Stock Up 0.7% Shares of BNS stock opened at C$129.93 on Friday. Bank of Nova Scotia has a twelve month low of C$88.22 and a twelve month high of C$134.50. The stock’s fifty day simple moving average is C$127.15 and its 200 day simple moving average is C$116.10. The firm has a market capitalization of C$158.36 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.33 and a beta of 1.27.
Bank of Nova Scotia (TSE:BNS – Get Free Report) (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 25th. The bank reported C$2.28 earnings per share for the quarter. Bank of Nova Scotia had a return on equity of 11.41% and a net margin of 14.08%.The company had revenue of C$10.54 billion for the quarter. As a group, equities research analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.
(Get Free Report) Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: ‘for every future,’ we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
Read More Five stocks we like better than Bank of Nova Scotia Carnival and CarMax Pop on Strong Earnings, but Challenges Remain 3 Income Stocks Under $30 That Yield More Than the 10-Year Treasury Note 3 AI Winners, 3 Very Different Paths to Higher Margins Plexus Is Booming—But Can the Growth Story Last?
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Akcie Dutch Bros v září klesly o 21 % po zklamání z výsledků za srpen a obavách z rostoucích nákladů. Firma sice mírně zvýšila výhled na celoroční tržby a same-store sales, ale výrazně navýšila capex z mediánu 280 milionů dolarů na 360 milionů dolarů.
Dutch Bros (BROS +0.15%) stock fell 21% in September, according to data provided by S&P Global Market Intelligence. The company is still feeling negative market sentiment after some disappointing earnings updates in August.
Growing painsDutch Bros is a relatively small coffee shop chain that has ambitious expansion plans. It owns 1,177 stores as of the end of the second quarter, and it plans to reach 2,029 stores by 2029, nearly doubling today's count.
Image source: Dutch Bros.
It consistently reports robust growth, and the second quarter was fantastic, which you probably wouldn't realize based on the market's reaction. The company is still growing fast and becoming more profitable, and it's generating consumer loyalty as it expands across the country.
Revenue increased an impressive 32.5% to $550.9 million in the quarter, and company-owned same-shop sales were up 8.3%. Company-owned same-shop transactions were up 3.4%, indicating that the increase didn't come entirely from price hikes. Systemwide metrics were somewhat lower, at 5.8% and 1.7%, respectively, and Dutch Bros is transitioning from its original franchise model to new company-owned stores only.
So what didn't the market like? There's concern about rising costs, which is why negative market sentiment persisted into September, with inflation remaining strong.
The market also didn't like management's guidance. Although it slightly raised full-year guidance for total revenue and same-store sales, it significantly raised guidance for capital expenditures (capex), from a midpoint of $280 million to a midpoint of $360 million. Management explained that average capex per new store is still $1.4 million, and the higher total reflects aggressive expansion.
After the earnings release, the company announced that a deal to acquire a small restaurant chain that would have made it easy to add 65 new stores fell through, feeding into the negativity about whether Dutch Bros would be able to expand as fast as it's aiming for.
An opportunity to buy on the dip?Dutch Bros has short-term plans to double store count and long-term plans to reach 7,000 stores. These stores are attracting fans and sales, and it's easy to see how it could reward investors despite the short-term drop.
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Dutch Bros' P/E ratio has fallen dramatically along with the price, and it trades at 54 times trailing 12-month sales. That's still expensive, and it demonstrates how much the market expects from it.
The good news is that it's the cheapest P/E ratio ever. The bad news is, it's rich enough that the stock can still fall on any missteps.
I think Dutch Bros is an excellent stock with tons of long-term potential. If you can buy now and hold for at least five years, it's a good time to buy.
Restaurant Brands International má dividendový výnos asi 3,7 % po měsíčním poklesu ceny akcií o 10,57 %. Výplata dividend nebyla nikdy snížena a letos firma plánuje vrátit akcionářům 1,6 miliardy USD.
Four fast food brands under one roof sounds like a safety net, but Tim Hortons carries so much of the weight that a slowdown in Canada could test a dividend that has never once been cut.
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Restaurant Brands International (NYSE:QSR | QSR Price Prediction) paid its latest dividend of $0.65 per share on October 2, 2026. Tim Hortons, Burger King, Popeyes and Firehouse Subs all pay into one pool. Shares closed at $69.92, down 10.57% over the past month. At that price, the $2.60 annualized payout yields about 3.7%. Do four brands give income investors four levels of protection, or just spread one consumer risk across four logos?
Royalties Generate the Cash Behind the Dividend More than 95% of RBI’s over 33,000 restaurants are franchised, generating nearly $49 billion in annual sales. Franchisees pay wages, rent and food costs. RBI takes a cut of sales, so the dividend depends on restaurant sales volume and requires little capital to keep.
In 2025, free cash flow reached $1.449 billion. Dividends used $1.108 billion of it, about 76%.
Four Logos Carrying Three Separate Risks Tim Hortons produces roughly 41% of operating profit, International about 29%, Burger King nearly 19% and Popeyes approximately 10%. Each faces distinct pressure.
Tim Hortons supply chain: RBI sells products to its Canadian franchisees, which makes money on margins, separate from royalties. Management expects those margins to land roughly in line with 2025. Canadian same-store sales slowed to 0.1% growth in Q2. Burger King turnaround: The Reclaim the Flame plan commits up to $700 million through 2028. U.S. same-store sales rose 8.5% in Q2. Carrols refranchising: RBI plans to sell a few hundred of these company-run restaurants to franchisees in 2026 and the rest in 2027. That reduces its exposure to restaurant-level costs. Popeyes same-store sales fell 5.1% in Q2.
How McDonald’s and Yum Stack Up About 95% of McDonald’s (NYSE:MCD) restaurants are franchised. The company generated $7.186 billion of free cash flow in 2025 and pays $1.86 a quarter after a 5% raise. Its net debt runs near 3.7x EBITDA, compared with RBI’s 4.1x net leverage.
Yum! Brands (NYSE:YUM) sold Pizza Hut and raised its quarterly dividend to $0.75 from $0.71. RBI is keeping Popeyes and investing to fix it.
A Payout That Has Never Been Cut RBI’s dividend has rose from $0.09 in 2015 to $0.65 with no cuts. This year’s raise lifted the quarterly payment from $0.62. In 2020, dividends of $959 million topped operating cash flow of $921 million, yet the payout still grew.
RBI plans to return $1.6 billion to shareholders in 2026, including about $500 million of buybacks. It expects $500 million to $520 million of net interest expense and around $400 million of capex and cash bonuses.
Verdict: Durable, With Clear Warning Signs The franchise structure makes this dividend durable. Royalties from more than 120 countries and territories kept the payout growing through the pandemic and now fund a Burger King overhaul. The four brands spread risk across regions, but Tim Hortons makes such a large share of profit that much of the risk sits in Canada.
Watch Tim Hortons Canada same-store sales, its supply chain margins, whether Popeyes returns to positive same-store sales, and progress toward the low to mid three times leverage target for 2028. As long as free cash flow covers the dividend before buybacks, the $0.65 payout is secure. For investors who want payers with multi-decade raise runs behind them, we ranked ten of them by valuation in a free Dividend Kings report.
Contact [email protected] for any questions or corrections.
Nike (NYSE: NKE) stock has received a rare Wall Street upgrade despite mounting pressure on the athletic apparel giant following its latest quarterly earnings report.
In this case, Freedom Broker upgraded Nike shares from ‘Sell’ to ‘Buy’ on October 2 while lowering its price target to $51 from $54. Based on Nike’s share price of $33.59, the new target implies a potential upside of roughly 52%.
The upgrade comes at a challenging time for Nike. The stock is down about 53% over the past year, making it one of the worst-performing large-cap consumer stocks during the period.
According to Freedom Broker, the upgrade reflects confidence in Nike’s long-term turnaround strategy despite weak near-term fundamentals.
The analyst pointed to the company’s newly launched Pace transformation program, which aims to simplify operations, improve productivity, and accelerate Nike’s Sport Offense strategy. Management expects the initiative to generate approximately $2.5 billion in cumulative savings through fiscal 2031.
Freedom Broker acknowledged that Nike faces a multi-year restructuring effort across its Sportswear division, Jordan Brand, and Greater China business. However, the firm believes the turnaround potential outweighs the current challenges, leading to the rating upgrade.
Wall Street cautious on NKE stock Meanwhile, TradingView data shows the Wall Street consensus analyst price target for Nike stands at $37.78, representing an upside of about 11.5% from current levels.
Among 43 analysts tracked, the stock currently carries a neutral consensus rating, with most analysts maintaining hold recommendations.
Revenue fell 4% year over year to $11.2 billion, missing analyst expectations, while sales in Greater China declined sharply. Weakness also persisted across Sportswear, Jordan Brand, and the Europe, Middle East and Africa region.
At the same time, adjusted earnings per share came in at $0.48, ahead of some Wall Street estimates, while gross margin expanded 60 basis points to 42.8%, helped by lower warehousing and logistics costs.
Nike also reported stronger momentum in performance-focused categories such as running and football, areas management has identified as key growth drivers under its Sport Offense strategy.
Nike lowers expectations for fiscal 2027 Despite the analyst upgrade, Nike’s outlook remains subdued. The company expects fiscal 2027 revenue to decline at a high-single-digit rate, while adjusted diluted earnings per share are projected between $1.15 and $1.35, excluding restructuring-related expenses.
Chief Executive Elliott Hill has indicated that the company continues to work through excess inventory issues and brand repositioning efforts, particularly in lifestyle products and Greater China.
Texas Instruments zvýšila čtvrtletní dividendu o 7 % na 1,52 USD na akcii a prodloužila sérii růstů na 23 let. Broadcom i Qualcomm také dál kryjí své dividendy silným volným cash flow.
Most chipmakers struggle to sustain dividends through brutal industry downturns, but three semiconductor companies have quietly built the cash flow machines and balance sheet discipline to keep raising payouts no matter where the cycle goes.
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Chipmakers have a reputation for wild earnings swings and huge factory bills, both of which can strain a steady dividend. That makes the few semiconductor companies that keep raising their payouts worth a closer look, because every check they mail says the business throws off cash through the whole cycle. The clearest example came when Texas Instruments (NASDAQ:TXN | TXN Price Prediction) increased its dividend 7% to $1.52 per share, marking 23 consecutive years of increases. The three names below are Broadcom (NASDAQ:AVGO), Texas Instruments and Qualcomm (NASDAQ:QCOM). Their yields are modest. Their cash flows are what make them notable for income investors, and each one has a different kind of cycle risk.
Broadcom: Record Free Cash Flow Dwarfs the Dividend Bill Broadcom has the lowest yield in this group at 0.76%, based on an annualized dividend of $2.60 per share and a recent price of $355.14. The dividend is lowest next to the share price, but it is very well covered.
Dividend safety: Broadcom produced $13.7 billion of free cash flow in its fiscal third quarter, equal to 46% of revenue. It paid $3.1 billion in dividends over the same period. Measured against trailing earnings per share of $7.83, the annual dividend takes about 33% of profits. The balance sheet is moving the right way. Cash ended the quarter at $24 billion, management repaid $5.6 billion of long-term debt during the quarter, and it retired another $1.5 billion of notes after the quarter closed. The remaining $59.6 billion of fixed-rate debt has an average coupon of 4%.
Track record: Broadcom has paid a dividend every quarter since December 2010, and the amount has stepped up many times. The two most recent increases took the quarterly payout from $0.53 to $0.59 to $0.65. The last raise was declared on December 9, 2025, so income investors should keep an eye on the fiscal fourth-quarter earnings report scheduled for December 9, 2026.
Bull case: Broadcom designs custom AI accelerators for hyperscalers including Google, Meta and OpenAI, sells the Ethernet switches that connect them, and runs an infrastructure software business with a 94% gross margin. AI semiconductor revenue reached $16.7 billion in the quarter, up 221% year over year. Management guided fourth-quarter revenue to about $34.8 billion and expects fiscal 2027 AI revenue of around $115 billion (that kind of early-mover setup is exactly what we studied in our free Next Nvidia playbook). Hock Tan, the chief executive on the call, put it this way: “Q3 demand was simply hot and we’re just getting started.” The stock trades at about 19 times forward earnings, so investors get that growth plus a growing payout.
Risk: This is a cycle tied to a handful of customers. Broadcom’s AI outlook depends on six XPU customers, and management said installations still depend on land, power and data center shells being ready. Should leading AI labs pull back on spending, Broadcom’s cash growth could stall quickly, even though the dividend would still be covered by a wide margin.
Texas Instruments: 23 Straight Years of Raises and a Cash Flow Rebound Texas Instruments yields about 2.07%, based on its new annualized dividend of $6.08 and its stock trading at $293.80. The newly raised $1.52 quarterly payment goes out on November 10 to shareholders of record on October 30.
Dividend safety: TI has the best dividend-growth record of the three. The quarterly payout went from $1.24 in 2023 to $1.30, $1.36, $1.42 and now $1.52, with one raise each autumn. Coverage is lower than at Broadcom. Trailing dividends of $5.62 per share against trailing EPS of $6.58 work out to a payout ratio near 85%. Free cash flow is what has changed. Trailing 12-month free cash flow reached $6.5 billion, up from $1.8 billion a year earlier, and TI returned $5.8 billion to owners over that stretch. The balance sheet holds $7 billion of cash and short-term investments against $14 billion of debt.
Bull case: TI makes analog and embedded processing chips. These are low-cost, long-lived parts that go into factory equipment, cars and power systems. Second-quarter revenue rose 22.82% to $5.463 billion, and data center revenue doubled year over year. For income investors, capital spending matters most. Quarterly capex fell to $514 million from $1,305 million a year earlier now that the heavy 300mm factory work is done, and that freed-up cash can go to shareholders. Management guided third-quarter revenue to $5.65 billion to $6.15 billion. The stock is up 72.21% year to date, which tells you investors already expect the recovery to last.
Risk: If the cycle turns, there is little buffer. The around 85% payout ratio leaves little room if industrial demand fades, and trailing free cash flow includes $1.6 billion of CHIPS Act incentives that will not repeat forever. Management also plans to fund the Silicon Labs acquisition with cash and new debt. A downturn would test how far that 23-year run can stretch. At about 28 times forward earnings, investors are paying up for the recovery.
Qualcomm: Licensing Cash and a Massive Buyback Back Up the Payout Qualcomm yields 1.93% on an annualized dividend of $3.68, with the latest quarterly check at $0.92. Its free cash flow yield is 6.49%, which means the dividend uses only about 30% of the free cash flow the business produces.
Dividend safety: The balance sheet is conservative. Debt to equity is 0.77, net debt is just 0.61 times EBITDA, with interest coverage at 18.61x. Qualcomm returned $2.3 billion to shareholders in its fiscal third quarter, including $1.4 billion of buybacks, and it has a $20 billion repurchase authorization in place. Because so much of the payout goes to buybacks, management could slow repurchases in a downturn and leave the dividend alone. The record shows a raise every year from 2020 through 2026, most recently from $0.89 to $0.92. Over the full history, the quarterly payout has grown from $0.05 in 2003.
Bull case: Qualcomm sells Snapdragon processors for phones, cars and connected devices, and it takes in patent royalties through its QTL licensing arm. That licensing business posted a 69% EBT margin, a high-margin source of cash that does not depend on building chips. The company also renewed its global patent license agreement with Apple in September. Automotive revenue rose 61% to $1.588 billion, its 23rd straight quarter of double-digit growth. Management is targeting $40B in non-handset revenue by fiscal 2029, helped by data center work that includes a new multi-generational collaboration with Amazon.
Risk: Qualcomm faces a handset cycle hitting at the same time as rising costs. Handset revenue fell 20% to $5.086 billion, and net income dropped 24.91% as memory, wafer and packaging costs rose. Management expects Apple product revenue to fall about 50% from the September quarter to the December quarter, and it guided chip-segment margins down to 23% to 25%. Non-GAAP EPS of $2.21 missed the $2.22 consensus estimate. Earnings coverage is weaker than cash coverage right now, with the stock at about 36 times trailing earnings.
Three Chipmakers, Three Ways to Get Paid Through the Cycle Broadcom has the widest coverage and the lowest yield, and AI cash flow is funding both the dividend and debt paydown. Texas Instruments has the strongest raise record and the highest yield of the three, but also the thinnest payout buffer, so its upcoming third-quarter report matters most for the dividend. Qualcomm sits in the middle: free cash flow covers the dividend comfortably, licensing royalties add a steady stream of cash, and a big buyback can be cut back before the dividend is touched. For income investors who want chip exposure, all three dividends look well supported by cash flow at this point in the cycle.
Contact [email protected] for any questions or corrections.
Mechanical and electrical services contractor Comfort Systems USA (FIX +2.54%) may not be the best-known stock on the market, but it is a key player in the artificial intelligence (AI) data center build-out.
The stock is up 77% this year and an incredible 871% over the last three years, largely due to its exposure to the AI data center build-out boom and the impact on the company's backlog.
Image source: Getty Images.
Comfort Systems USA backlog The chart below shows the remarkable growth in its backlog over the last few years. For reference, Wall Street analysts expect revenue of just under $13 billion in 2026, so the current backlog of $14.06 billion more than covers 2026 revenue and continues to grow. It's likely to do so given the massive sums that hyperscalers continue to commit to building out AI data centers.
The data-center-related revenue is reported with its technology revenue and, according to President Trent McKenna on an earnings call in July, "Technology, which is included in industrial, was 58% of our revenue, a substantial increase from 40% in the prior year."
Data source: Comfort Systems USA presentations. Chart by author.
The backlog doesn't show the full picture It's also worth noting that Comfort's backlog is arguably a conservative metric that doesn't reflect a stronger long-term picture. Comfort's backlog "reflects revenue still to be recognized under contracted or committed installation and replacement project work," according to the company. This work generally lasts less than one year. The backlog does not include service work or maintenance contracts, which "do not flow through backlog." As such, the backlog doesn't fully reflect the benefit Comfort Systems will get from its project work.
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On the other hand, the backlog has a relatively short duration given that project work lasts less than one year. Still, that won't trouble investors as long as the backlog keeps growing; an increasing backlog simply translates into revenue growth and a long tail of service and retrofit opportunities in the future.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Comfort Systems USA. The Motley Fool has a disclosure policy.
McDonald’s zvýšil dividendu, zatímco Domino’s Pizza ji po únorovém navýšení ponechává beze změny. Rozdíl ukazuje na rychlejší růst výplat u McDonald’s.
McDonald's is handing income investors bigger checks each year while Domino's holds its payout flat, and the reason behind that gap reveals which pizza-and-burger giant faces a trickier road ahead.
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Domino’s Pizza (NASDAQ:DPZ | DPZ Price Prediction) and McDonald’s (NYSE:MCD) reported second-quarter results this summer. Their dividends now move at different speeds. McDonald’s raised its payout again. Domino’s has held its payout flat since its February increase. Income investors are inspecting the yields.
Pizza Orders Climbed While Burger Traffic Slipped Domino’s U.S. same-store sales grew just 0.1%, compared with 3.4% a year ago. Order counts rose in both delivery and carryout, but the lower average check caused the slowdown. CFO Sandeep Reddy blamed a Premium Series that underperformed and promised, “We had a one-quarter blip on ticket. We’re not going to have another blip.”
McDonald’s grew global comparable sales 1.3%. Every segment posted positive comps, but U.S. restaurant traffic fell and sales declined in China and France. CEO Chris Kempczinski named Skye Anderson president of McDonald’s USA to “bring focus and urgency” to its biggest market.
Dividend Lens Domino’s McDonald’s Quarterly Payout $1.99, flat $1.93, up from $1.86 Forward Yield About 2.67% About 3.12% 2025 Free Cash Flow $671.5M $7.186B Cash Engine Supply chain plus royalties Rent plus royalties Domino’s Flat Year Matches Its Usual Pattern Domino’s raised its quarterly dividend from $0.20 in 2013 to $1.99 in 2026, raising once yearly then holding flat. On the balance sheet, stockholders’ equity is at negative $3.98B due to debt and buybacks, and cash fell 39.6% to $164.8M. Supply chain revenue of $731.7M provides regular cash as franchisees buy dough weekly.
McDonald’s makes rent as a landlord, a recurring income stream. It paid about $1.3B in dividends in the second quarter alone, while it also funds $3.7 to $3.9B in capital spending. One risk: management expects interest expense to rise 4% to 6% this year.
February Will Show Whether Domino’s Is Pausing or Stalling Domino’s announced its last increase in February 2026. A skipped increase next February combined with lower average checks and cash-draining buybacks would signal a real problem. Management cut its U.S. store-opening outlook to about 175 as franchisees make less. At McDonald’s, watch whether U.S. traffic recovers under its new president.
Regular Rent Versus Faster Dividend Growth McDonald’s offers regular, more predictable income. Its yield is higher, raises come yearly, and rent supports them. The tradeoff is slower dividend growth.
Domino’s offers faster dividend growth alongside more debt. Its payout rose from $0.20 in 2013 to $1.99 in 2026. A ticket recovery would strengthen the case. Another lower quarter followed by a skipped increase would change the outlook.
Contact [email protected] for any questions or corrections.
Starlink loni vygeneroval SpaceX 4,4 miliardy USD provozního zisku při tržbách 11,4 miliardy USD. Podle článku ale sám o sobě nestačí k dvojnásobení hodnoty akcií SpaceX.
When Space Exploration Technologies (SPCX +7.36%) was preparing to go public, many experts worried that the company's targeted $1.77 trillion valuation was too rich. Most of these experts, however, also believed that the company's Starlink division held great promise.
For example, Jeremy Grantham -- a co-founder of GMO Asset Management and a well-known prognosticator of market bubbles -- warned investors against investing in SpaceX during its IPO.
"In the end, the reality will come out, and this will turn out to be, of course, one of the landmark historical events that I so value in history looking back," Grantham cautioned. "It will be amazing, by the way, if it doesn't collapse, because it will need such massive developments on AI that our entire lives are totally different."
Image source: Getty Images.
SpaceX's stock price has been on a bit of a roller-coaster ride since the IPO, but it remains above its IPO valuation. Grantham predicted possible short-term price appreciation given SpaceX's limited supply of publicly traded shares. "[S]upply and demand being what it is," he said, "it's hard to imagine the price won't go up, and perhaps it will go up a lot."
Grantham was extremely bearish on SpaceX as an investment opportunity. It's perhaps surprising, then, that he was a fan of SpaceX's Starlink division. Here's what he said in a podcast interview this summer:
"Great idea, by the way. Makes money. But this is not Starlink. Maybe I'd be an investor too, if it were Starlink."
Last year, Starlink was the odd bright spot for SpaceX's financials. The division produced $4.4 billion in operating profit off $11.4 billion in sales. SpaceX's other divisions posted operating losses on less revenue.
Starlink's success continued in 2026. Last quarter, Starlink generated $1.7 billion in operating profit. The rest of SpaceX's divisions lost a combined $1.8 billion.
Impressive revenue growth and continued profitability are expected to continue for Starlink. Morningstar predicts the segment will become "a substantial, high-growth business anchored in a focused but meaningful $129 billion global market."
Here's the problem: Starlink won't be enough to double SpaceX's stock price on its own. In fact, Starlink may ultimately be immaterial to SpaceX's long-term potential.
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Here's why Starlink matters for SpaceX, and why it doesn't It's important to understand Starlink within the context of SpaceX's other businesses.
According to SpaceX's IPO prospectus, the company's total long-term addressable market is valued at $28.6 trillion. Starlink only accounts for $1.6 trillion of that total. Some analysts don't even value the Starlink opportunity that highly.
"The $1.6 trillion TAM figure from SpaceX appears to aggregate the total connectivity market across most countries (excluding China and Russia) and all segments, including wireless, broadband, and enterprise," Morningstar analysts contend. "... We think that this significantly overstates realistic market opportunity for Starlink, as satellite-based connectivity faces physical and technological constraints that are very difficult to overcome in a dense urban environment."
Starlink matters for SpaceX because it helps scale the company's rocket technology through a profitable venture -- profits that can then be redirected to other purposes. What other purposes? Almost exclusively, SpaceX's future hinges on the success of its AI division, which accounts for $26.5 trillion of the company's total claimed $28.5 trillion addressable market.
Starlink's cash flow will help mitigate shareholder dilution and support other growth opportunities. On its own, however, Starlink's success won't move SpaceX's stock price much in the long term. Only the success (or failure) of SpaceX's AI efforts will have a meaningful effect in the years and decades to come.
Adobe má stále nevyužitých 24,55 miliardy USD z programu zpětného odkupu akcií, což je zhruba čtvrtina firmy. V prvních třech čtvrtletích odkupy financovala z provozního cash flow.
Shares of Adobe (ADBE -1.49%) have had a tough 2026. The stock ended last year at about $350 and trades near $240 as I write, down about 31%.
The software company has kept buying its own shares on the way down. In April, its board approved a new $25 billion stock buyback authorization, meant partly to "reduce share count over time." It runs through April 30, 2030.
And as Adobe's fiscal third quarter of 2026 ended Aug. 28, $24.55 billion of it was still unused.
Compared with Adobe's market value, the amount is large. With about 389.2 million shares outstanding in mid-September, Adobe is worth about $93 billion at today's stock price. The remaining authorization could buy back about 26% of it -- about 102 million shares.
Sure, an authorization isn't a promise. Adobe has around three and a half years to use it, and nothing forces the company to spend it all. But I think the company's pace this year shows it plans to put plenty of it to work.
Image source: Getty Images.
A steady, cash-funded paceIn the fiscal year's first three quarters, Adobe's buybacks averaged around $2.3 billion a quarter. That came to $6.82 billion, for 26.1 million shares, all bought on the open market.
And as the stock dropped, the same money bought more shares. The 9.5 million shares Adobe repurchased in fiscal Q3 cost an average of around $235 each, versus about $261 over all three quarters.
Notably, the company paid for it with cash from its operations. Adobe generated $7.65 billion of cash from operations during the same stretch, up around 11% year over year, and buybacks used close to 90% of it. Its balance sheet had $5.64 billion of cash and short-term investments at quarter-end, versus around $6.4 billion of debt.
This pace leaves room to spare. Spreading the unspent $24.55 billion evenly through April 2030 comes out to around $7 billion a year, about what Adobe spent in just those three quarters. If the company keeps buying at its recent rate instead, it could use up the authorization sometime in 2029.
Buybacks are doing about half the workAdobe's diluted share count (the number used to calculate earnings per share) was around 395 million in the fiscal third quarter. That compares to 402 million in the fiscal second quarter and 424 million in the year-ago quarter.
Management's fourth-quarter targets assume around 389 million. In other words, the count's dropping about 2% a quarter, and steadily.
Not every repurchased share sticks, though. Shares outstanding dropped by around 22 million in the nine months, fewer than the 26.1 million Adobe bought, because employee stock awards added some back.
Showing what the shrinking count means for shareholders, Adobe's non-GAAP (adjusted) net income rose around 8% year over year in fiscal Q3 to $2.42 billion. Adjusted earnings per share climbed 15% to $6.13.
On a GAAP basis, net income grew just 3%, but earnings per share climbed 11% to $4.62. In short, fewer shares drove about half of the quarter's adjusted per-share growth.
If Adobe spent all $24.55 billion at roughly $240 a share and its earnings stayed flat, retiring about 26% of its shares would raise earnings per share by over a third.
That won't happen all at once, and the price Adobe pays will move. A lower stock price would stretch the cash further, and a higher one would shrink it.
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Is the buyback a reason to buy?At roughly $240, Adobe shares cost about 13 times earnings. Using the midpoint of management's fiscal 2026 target for adjusted earnings per share ($24.45 to $24.50), the price is about 10 times adjusted earnings. When shares reached their 52-week high of $363.70, that same target worked out to almost 15 times adjusted earnings.
I'd say buying back stock at about 10 times adjusted earnings is one of the better uses of Adobe's cash right now.
True, a buyback can't fix slowing growth. Adobe's total annualized recurring revenue (ARR), its gauge of the subscription business on a yearly basis, rose 11.2% year over year in fiscal Q3, and management's full-year target is 10.2%. And the market's discount probably reflects worries that artificial intelligence tools might hurt Adobe's pricing power. But as long as the subscription business keeps growing, a falling share count should help earnings per share outpace the business itself.
All in all, I think the buyback makes a cheap stock more interesting. Adobe stock looks worth considering at this price, but I'd want the subscription business to keep growing at roughly its current pace.
Costco hlásí zpomalování růstu srovnatelných tržeb očištěných o vliv kurzů už třetí měsíc po sobě: v srpnu klesl na 5,4 % z 8 % v květnu. Další měsíční aktualizace přijde 7. října.
Costco Wholesale (COST +0.62%) stock has gone nowhere in a year. At around $917 as of this writing, shares stand almost exactly where they were at the start of October 2025. And since peaking at $1,096.50 in May, they've shed around 16%.
The business hasn't been the problem. The membership-based retailer's fiscal fourth quarter of 2026 (the 16 weeks ending Aug. 30, 2026) showed comparable sales growth of 9.4% and a 15% jump in earnings per share, to $6.75.
But Costco also posts sales every month, and these monthly results have been cooling since May.
The next update comes after the market closes on Wednesday, Oct. 7, when Costco posts September sales -- the five weeks through Oct. 4, and the first month of its fiscal 2027. I think one figure in the release matters much more than the others. And it's not the headline comparable sales number.
Image source: Getty Images.
Which number matters most?Comparable sales track growth at warehouses and websites open for more than 12 months. The headline figure includes gasoline, which has been raising it recently. In the fiscal fourth quarter, higher gas prices added around 3 percentage points to comparable sales growth, Costco said on its earnings call.
The number to watch, then, is comparable sales without gas and currency. Showing how steadily it's eased, Costco's adjusted total company comparable sales climbed 8% year over year in May, 7% in June, 6.6% in July, and 5.4% in August. Some of August's slowdown was the calendar. Labor Day landed a week later this year, and Costco said the change lowered August's comparable sales by a little under 0.75 percentage points. Even adding that back, August was roughly 6%, the lowest of the four months.
Chief financial officer Gary Millerchip described adjusted comparable sales on the fiscal fourth-quarter call as running "in that sort of 6% to 7% range as they've been pretty much consistently for a year now."
He's right about the range. But within it, the trend has been down since spring.
September may get a lift from the same calendar shift in reverse, as the busy week before Labor Day now lands in Costco's fiscal September instead of August. The year-ago comparison isn't all that hard, either. Adjusted comparable sales climbed 6% in September 2025.
With these tailwinds, an adjusted figure around 7% would suggest the slowdown has leveled off. A number closer to 6% would arguably mean it hasn't.
More trips, slower spendingThe other figure that matters, traffic (how often members shop), won't be in the monthly release. Costco reports it in quarterly results, and the latest reading was encouraging. Traffic climbed 3.3% worldwide in the fiscal fourth quarter, up from 2.4% in the fiscal third quarter.
What slowed instead was spending per trip. Leaving out gas and currency, Costco's average transaction grew 3.3% in the fiscal fourth quarter, down from 4.2% a quarter earlier.
Put simply, members are showing up more often. But what they spend each visit is growing more slowly than it was.
That's arguably the healthier type of slowdown, because how often members shop says more about their loyalty than the size of any one basket. Yet it leaves the monthly adjusted comparable sales numbers, starting with September's, as the only new look at demand until Costco's fiscal first-quarter report.
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Has the pullback made the stock reasonable?Costco's fiscal 2026 earnings per share grew 14% year over year to $20.76. At around $917, investors are paying about 44 times these earnings.
A year ago, at almost the same share price, Costco traded at about 50 times its fiscal 2025 earnings of $18.21 per share. Put another way, the stock got cheaper because earnings climbed as the price held steady.
Yet 44 times earnings is a lot to pay for this growth rate. Without the one-time benefit from tariff refunds, fourth-quarter earnings per share rose about 12%. And Millerchip said the fourth quarter was the last to see a year-over-year lift from Costco's September 2024 membership fee hike.
Costco is still one of the best-run retailers I follow, and traffic growth picked up in the latest quarter. If September's adjusted comparable sales land back around 7%, the case for the business could get a bit stronger. Still, at about 44 times earnings for growth in the low teens, I think the stock remains too expensive here. The pullback has helped, but I don't think it's gone far enough yet.
Robinhood plánuje od příštího roku umožnit obchodování akcií a ETF i o víkendech, čeká však na regulatorní schválení. Firma ale uvádí, že to pravděpodobně přidá jen malý příspěvek k výnosům.
Customers at Robinhood Markets (HOOD +1.43%) can buy and sell many of the most popular stocks and exchange-traded funds (ETFs) from Sunday at 8 p.m. ET until Friday at 8 p.m. ET on the broker's 24 Hour Market. That adds up to 120 hours a week, and it leaves the weekend as the only time when stocks are off-limits.
At its HOOD Summit in Houston on Sept. 29, the firm said it plans to fill the gap by letting customers trade a curated list of U.S. stocks and ETFs around the clock, weekends included. Robinhood expects to launch it early next year, pending regulatory review.
Adding weekends would bring the 24 Hour Market to all 168 hours in a week, or about 40% more time to trade. But I don't think 40% more hours means anywhere near 40% more revenue.
Image source: The Motley Fool.
Stock trading is a smaller business than it looksRobinhood's equities revenue comes mainly from payment for order flow (fees that trading firms pay the broker to handle its customers' stock orders).
Showing how fast this line is rising, equities revenue almost doubled year over year to $129 million in the second quarter, according to Robinhood's quarterly filing. That was up from $82 million in the first quarter, too. So equities made up around 17% of transaction-based revenue, compared with about 13% three months earlier and 12% a year before. Average stock-trading volume per trader grew 56%, and the number of customers making stock trades climbed 13%.
But against total revenue of $1.31 billion (up 32% year over year), equities supplied just 10%.
And Robinhood's take is small. Customers traded a record $956 billion in stock in the quarter, up 85% from a year earlier, so the company earned around $1.35 of equities revenue per $10,000 traded.
This growth has slowed a little since then. In August, customers traded 68% more stock by dollar value than a year earlier, according to Robinhood's monthly operating data.
How much might weekends add?Robinhood doesn't say in its quarterly reports how much of its stock volume already trades in the 24 Hour Market, so any estimate here is rough.
At the second quarter's pace, equities revenue comes to around $516 million a year. If weekend hours boosted that by the full 40% the extra time represents, the rise would be about $206 million, or about 4% of Robinhood's yearly revenue pace of $5.2 billion.
I'd say the company probably won't get near that ceiling. Weekend trading will start with a limited list of stocks and ETFs. And some Saturday trades could just be trades a customer would've made on Monday morning anyway, which shifts revenue around instead of adding to it.
A 5% to 10% boost to equities revenue would add about $26 million to $52 million a year -- 1% of sales at most.
Sure, weekend hours could also keep active traders on the app on days when stocks have been off-limits, and so could the artificial intelligence (AI) agents Robinhood introduced at the summit to trade for customers. Any payoff there is tougher to measure.
Cheap to startThe summit's other launches tie into bigger revenue lines. But the tech company is pricing them to win customers first.
Perpetual futures, which are leveraged crypto contracts that never expire, are starting to roll out to eligible U.S. customers, with up to 10x leverage on Bitcoin and Ether and 3x on six other coins. Robinhood plans to charge just 0.01% a trade on them through the end of the year. Over time, they might help a shrinking crypto business, whose second-quarter revenue dropped 38% from a year earlier, to $100 million.
Earnings contracts, exchange-listed binary options linked to company-specific performance metrics, are expected to launch in October, pending regulatory approval. Robinhood won't charge contract fees for them through year-end, either.
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Also starting in October, Robinhood is adding 35% more options trading hours for its most popular symbols. The same caution about hours applies. But options are Robinhood's largest transaction line, at $342 million last quarter, so the move is arguably the bigger opportunity.
Ultimately, weekend trading looks more like a convenience for Robinhood's most active customers than a big new source of revenue.
At about $112 as of this writing, Robinhood's shares cost around 38 times earnings, using analysts' forecasts for 2027.
For a growth stock with revenue climbing so fast, some premium makes sense. But the price already assumes Robinhood keeps adding new ways to make money for years to come, and weekend trading is probably one of the smaller ones.
AT&T, Kraft Heinz, Dow i Hasbro drží dividendu beze změny už roky, ale všechny ji dál kryjí ziskem nebo volným cash flow. U AT&T a Hasbro je krytí nejsilnější, zatímco Kraft Heinz vyplácí nejvyšší výnos a Dow nese největší cyklické riziko.
A frozen dividend looks like a red flag until you see what is sitting behind it. Four companies have held their payouts flat for years, and the cash flow numbers behind each one tell a very different story than the…
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Dividend-growth screens often flag a flat payout as a warning. That reaction can cost income investors money. A cut means the cash ran short. A freeze supported by earnings and free cash flow means management is sending money to debt paydown, a capital program or a cyclical recovery while the quarterly check still comes in.
One stock below has paid the same $0.40 per share every quarter since its 2019-03-07 ex-dividend date. None of these four companies has raised its dividend in years, and each still covers its payout. For each one, we also lay out what would turn the freeze into a cut (and if you want the opposite exercise, the red flags that say a big yield really is about to be cut, we put the seven of them in a free report here: Dividend Traps).
AT&T: Fiber Cash Flow Keeps a Frozen Payout Well Fed AT&T (NYSE:T | T Price Prediction) yields 4.55% at a share price of $24.32. The quarterly dividend has held at $0.2775 since the 2022-04-13 ex-dividend date. That level came after AT&T reduced the payout from $0.52 around the WarnerMedia spin-off, and it has stayed flat ever since.
The freeze funds for a heavy build-out. AT&T plans $23 to $24 billion of capital investment this year and is aiming for 60M+ fiber locations by 2030. The EchoStar (NASDAQ:SATS) spectrum deal is plans to lift net leverage from 2.68 times to the 3.2 times range, with a return to about 2.5 times within around three years.
Coverage read: The annual dividend of $1.11 stands against full-year adjusted EPS guidance of $2.25 to $2.35. Second-quarter free cash flow came in at $4.7 billion, above management’s $4 to $4.5 billion guidance range. Full-year free cash flow guidance is $18B+. On the call, the CFO said buybacks plus dividends will total “approximately $18 billion this year, which is essentially 100% of our outlook for free cash flow.” Around $10 billion of that is buybacks, which management can scale back before it ever impacts the dividend.
Here is the bull case: the stock trades at a trailing P/E of 8 and a forward P/E of 10. Free cash flow guidance rises to $19B+ in 2027 and $21B+ in 2028. CEO John Stankey called the stock “incredibly undervalued” on the second-quarter call.
What turns the freeze into a cut: Free cash flow would have to fall well short of the $18B+ guide, and leverage would have to stay stuck near the 3.2 times range even after buybacks are cut back.
Risk: Legacy-segment EBITDA went down about 46% as AT&T phases out its copper network, and it is plans to turn negative after 2027.
Kraft Heinz: Ultra-High Yield With Free Cash Flow Doing the Heavy Lifting Kraft Heinz (NASDAQ:KHC) is the only ultra-high-yield name here, yielding 7.04% at $22.21. It cut the quarterly dividend from $0.625 to $0.40 in 2019. It has paid exactly that amount on every listed dividend through the 2026-09-04 ex-date.
The freeze funds debt reduction and brand reinvestment. The company “paid down $1.9 billion of debt in the quarter” and phases out another $1 billion after the quarter closed, management said. It also added $100 million of brand investment, almost all of it in marketing.
Coverage read: The headline GAAP net loss of $5.46B came from a $7.4B non-cash impairment, so no cash left the building. Adjusted EPS guidance was raised to $2.03 to $2.09, against an annual dividend of $1.60. First-quarter free cash flow rose 58.9% to $766M, while cash dividends paid totaled $474M. Free cash flow conversion is plans at about 110% this year.
Here is the bull case: the stock trades at 0.783 times book value and a forward P/E of 11. Emerging Markets grew 10.4%. First-half market share loss narrowed to 30 bps, compared with 90 bps at the start of last year.
What turns the freeze into a cut: Quarterly free cash flow would need to slip below the around $474M quarterly dividend bill, with the new marketing spend failing to lift sales.
Risk: North America is weak. Segment adjusted operating income fell 15.8%, and the shares have lost 14.14% over the past month.
Dow: A Reset Dividend Now Backed by Self-Help Cash Dow Inc. (NYSE:DOW) yields 5.07% at $27.98, which makes it a high-yield name. Dow paid $0.70 per quarter from 2019-05-30 through 2025-05-30 without a single raise. It then reduced the payout to $0.35 starting with the 2025-08-29 ex-date and has held it there through 2026-08-31. Dow has already been cut once. What matters for income investors now is whether the reset level holds.
The reason is the cyclical trough in commodity chemicals. Management has made debt reduction the first use of excess cash, ahead of buybacks.
Coverage read: Second-quarter free cash flow was $692M, compared with -$1.13B a year earlier. Dividends cost $253M in the quarter. Dow holds about $14 billion of available liquidity and has no substantial debt maturities until 2029. On the call, the CFO said the company will “continue to stay committed to” its investment-grade credit profile.
Bull case: Transform to Outperform is now plans to deliver more than $1.3B in self-help benefits this year. Management described those savings as largely independent of the economy. The shares are up 23.65% year to date and trade at a forward P/E of 14.
What turns the freeze into a cut: A return to negative free cash flow quarters like the year-ago -$1.13B, combined with self-help falling short, would put the investment-grade rating and the dividend in competition for the same cash.
Risk: Polyethylene pricing is volatile. Third-quarter EBITDA guidance of about $1.7 billion assumes a 10 cents per pound decline in integrated margins.
Hasbro: Magic Money Covers the Lowest Yield on the List Hasbro (NASDAQ:HAS) yields 3.19% at $89.54. Its last raise took the quarterly dividend from $0.68 to $0.70 with the 2022-04-29 ex-date. Every payment since has been $0.70.
Hasbro has held the payout flat through a restructuring, debt paydown and a digital gaming push. Management plans digital investment to top out this year.
Coverage read: Trailing diluted EPS of $5.59 compares with an annual dividend of $2.80. First-half operating cash flow was $604 million. That funded $147 million of debt reduction and $239 million returned through dividends and buybacks. The buyback target also rose from $100 million to at least $200 million. CFO Gina Goetter said on the call: “we remain committed to our dividend.”
Bull case: Magic: The Gathering revenue reached $545.3M in the second quarter, up 32%. That was its first quarter above $500 million in more than 30 years. Full-year adjusted EBITDA guidance was raised to $1.45B to $1.50B, and the stock trades at a forward P/E of 13.
What turns the freeze into a cut: Magic growth would have to reverse during a weak holiday season for Consumer Products while digital spending is at its peak. Even then, the bigger buyback would likely be scaled back first.
Risk: Hasbro depends heavily on Magic. Wizards faces a tough fourth-quarter comparison, with about $40 million of revenue moving into next year’s first quarter.
Flat Payouts Still Backed by Cash Flow Heading Into the Next Earnings Reports Each of the four companies has gone years without a raise, and all four still pay a dividend supported by earnings guidance or free cash flow. In each case, the cash a raise would have used is going to debt reduction, fiber, brand rebuilding or self-help programs. AT&T and Hasbro have the clearest coverage, Kraft Heinz pays the most income, and Dow has the most cyclical risk. Track free cash flow against the dividend bill, because that is where each cut trigger shows up first.
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Goldman Sachs zůstává vůči Nu Holdings optimistická a vidí další růstový potenciál po nedávném poklesu akcií. Firma přidala ve 2. čtvrtletí téměř 4 miliony zákazníků a má 139 milionů uživatelů.
Nu Holdings stock has pulled back sharply in recent months, falling from a high of $18.95 in January to around $13.43 today. Despite the decline, the long-term growth story remains intact, supported by the company’s expanding customer base, strong presence in Brazil, and continued push into other Latin American markets such as Mexico and Colombia.
Goldman Sachs analysts also remain optimistic about Nu’s outlook, believing the stock has further upside potential in the near term. Their bullish view suggests that the recent pullback may be more of a valuation reset than a deterioration in the company’s underlying fundamentals.
In a recent note, analysts at Goldman Sachs maintained its bullish outlook for the stock. In a note last week, they noted that the company’s entry into the United States may work out in the long term. The note argued that the company was doing so using a low-cost approach, coupled with a good customer care experience, which will help gain some market share in the country. The report added:
“We think NU’s ultra-low-cost digital approach with a strong consumer experience could allow it to successfully enter the market.”
Other analysts are largely bullish on Nu Holdings. For example, Rothschilds and Needham’s analysts set a target of $19, higher than the current $13. Wolfe Research has a target of $17, while UBS and JPMorgan Chase have targets of $18.20 and 20, respectively.
The most recent results showed that Nu Holdings’ business continued doing well, with its number of users and customers continuing to rise. It added nearly 4 million customers in the second quarter of the year and now has 139 million globally.
Most of these users are in Brazil, where it has close to 118 million users, a notable figure since Brazil has a population of 213 million people. Nu Holdings has also become a big neobank in Mexico, where it has 15.8 million customers. Its Colombia business has attracted over 5 million users.
The company is now planning to launch its business in the UK, where it was said to be considering making a bid for Monzo, one of the country’s biggest neobank. It decided to walk away after Monzo insisted on a £10 billion valuation.
Nu Holdings shares chart | Source: TradingView
The daily chart shows that Nu Holdings shares have dropped by 30% from the all-time high even as its revenue and user growth accelerated. Most recently, the stock formed a down-gap after reports of its Monzo buyout emerged and then filled it after it denied the rumors.
Even so, it remains below the 50-day Exponential Moving Average (EMA), a sign that bears have prevailed. It also sits below the Strong, Pivot, Reverse level of the Murrey Math Lines tool.
Therefore, the stock will likely continue rising as bulls target the important resistance level of $15. This view will be confirmed when it jumps above the Strong Pivot Reverse level of the Murrey Math Lines at $14.
SK Hynix je hlavním dodavatelem HBM pro společnost Nvidia a v rámci nové dohody jí má dodat paměti za zhruba 500 miliard USD během několika let. Nedostatek HBM tak posiluje obě firmy.
The artificial intelligence (AI) infrastructure boom is becoming increasingly about supply bottlenecks. The companies riding these supply constraints and those with access to high-demand components are both positioned to be long-term winners.
One of the biggest bottlenecks in the AI infrastructure market right now is high-bandwidth memory (HBM), and Nvidia's (NVDA +1.34%) close relationship with memory maker SK Hynix (SKHY +0.84%) provides big upside for both AI stocks.
HBM gets packaged with AI chips, like Nvidia's graphics processing units (GPUs), to reduce latency and optimize performance. Without HBM, GPUs would spend much of their time sitting idle waiting for data to arrive, and power consumption would skyrocket. As such, they are a necessary component that gets stacked alongside a GPU die within the same protective outer package.
Image source: Getty Images.
A scarce resource Right now, HBM supply is severely constrained for a few reasons. Currently, there are three major memory companies that make HBM: Samsung and Micron, in addition to SK Hynix. These companies only have so much clean-room space, and it takes years to build new ones. In addition, HBM takes upwards of three times the wafer capacity of conventional DRAM (dynamic random access memory), further adding to constraints.
And perhaps most importantly, the big three memory companies are all fighting with chipmakers to get the EUV (extreme ultraviolet lithography) machines that make the critical components for both HBM and advanced logic chips, like GPUs and central processing units (CPUs). ASML is the only company in the world that makes these machines, and it can only increase its own EUV capacity by so much.
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Most investors have played the HBM bottleneck through Micron, but this is probably the wrong long-term move. Micron lags SK Hynix and Samsung when it comes to HBM. However, it has actually been one of the biggest beneficiaries of the memory supercycle, as conventional DRAM and NAND (flash) prices have risen a lot more than already-expensive HBM prices due to overall market shortages and the big three memory makers putting most of their resources into HBM. Arguably, though, Micron is not nearly as well positioned long-term as SK Hynix.
The Korean memory market is the largest supplier of HBM in the world. As of the second quarter, it held a 25% market share in DRAM but a 50% share in HBM. This compares with Micron, which has a 24% market share in DRAM but only 18% in HBM. Samsung, meanwhile, has a 38% DRAM market share and 33% for HBM. As such, SK Hynix gets the largest percentage of its revenue from HBM compared to other memory companies.
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Close ties It is also the main HBM supplier to Nvidia, and the two companies recently formed an important supply and co-development partnership. As part of the deal, SK Hynix will supply Nvidia with an estimated $500 billion worth of memory over the next several years. The deal is huge for both companies.
For SK Hynix, this deal gives it a huge anchor contract with the largest AI infrastructure company on the planet. The memory market has historically been very cyclical, and this deal will provide the memory maker with a lot of visibility to go out and comfortably increase capacity, knowing that demand is there. With SK Hynix stock trading at a forward P/E of 5.5 times 2027 analyst estimates, it could have a lot of room to run if its business proves less cyclical than in the past.
Meanwhile, this deal is also a huge coup for Nvidia. AI chips basically need to be packaged with HBM, and the AI chipmakers that have access to this scarce component are the best positioned to drive growth in a compute-starved world. This is one of Nvidia's sneakiest advantages and another reason the company will remain the king of AI infrastructure. With a forward P/E of below 15 times fiscal 2028 (ending January 2028), the semiconductor stock is a buy.
Jensen Huang z Nvidia zopakoval, že výdaje na datová centra mohou do roku 2030 dosáhnout 3 až 4 bilionů USD ročně. Pokud si Nvidia udrží přibližně 40% podíl, její příjmy by mohly přesáhnout 1 bilion USD.
Jensen Huang, one of the co-founders of Nvidia (NVDA +1.34%), is no stranger to making bold predictions. One that he has been floating for a few years is that data center capital expenditures will reach $3 trillion to $4 trillion annually by 2030. That's a massive increase from today's levels, and he just commented that he believes that projection is still accurate.
While that projection may sound outlandish, I think there's some truth to it, because Huang is privy to conversations that the regular investor is not.
Nvidia CEO Jensen Huang. Image source: Nvidia Corporation.
Nvidia is poised to head higher with this guidance While investors should view most CEO comments through a cautionary lens, this is one situation where I think investors should be a bit more trusting. The data center build-out is in full swing, and many companies cannot access enough computing units to meet their needs. This is causing them to plan out their growth over several years. Part of this means sharing their build-out projections with suppliers like Nvidia, which can then tell their suppliers how much capacity to prepare for. This can happen years in advance of when the chips are actually needed, so with the start of 2030 being just over three years away, it's not outlandish to think that there are plans this far out.
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So, I think investors can take most of what Huang says at face value.
And if he ends up being right, there could be monstrous upside.
In 2026, Nvidia expects the big five artificial intelligence (AI) hyperscalers to spend nearly $800 billion on capital expenditures. This year, Wall Street analysts estimate Nvidia's revenue will reach $411 billion. There are other companies spending big on AI outside the big five, so the actual total for this year may reach as high as $1 trillion. That would give Nvidia about a 40% share of all spending.
If it can maintain that share, Nvidia's revenue could top $1 trillion by 2030. That would easily lead to the stock doubling over that time frame, and anytime you can find a stock that has the potential to double in under five years, it's a fantastic investment opportunity.
Nvidia is still one of the top ways to invest in the AI build-out; with Huang reaffirming the strength of the AI arms race, I think it's a great buying signal for investors.
YouTube v červenci získal rekordních 14,2 % amerického TV času, zatímco Netflix klesl na 7,8 %. Před rokem činil náskok 4,6 procentního bodu; za 12 měsíců se rozšířil na 6,4 procentního bodu.
YouTube keeps grabbing a bigger share of Americans' TV time. In Nielsen's newest monthly Gauge report, YouTube made up a record 14.2% of all U.S. TV viewing in July. Netflix (NFLX -1.16%), the second-biggest streaming service, held 7.8%.
A year before, the gap was far smaller. In July 2025, YouTube took 13.4% of TV time and Netflix set what was then a platform record of 8.8%. In 12 months, YouTube's lead widened from 4.6 percentage points to 6.4.
And Netflix's own share of TV time fell by over a tenth.
The stock has struggled, too. Shares of the streaming giant trade near $68 as of this writing, about 4% over their 52-week low and about 46% off their 52-week high of $124.86.
But Netflix doesn't get paid for hours. It gets paid for subscriptions and ads. And so far, I think the company is holding up better than the share numbers suggest.
Image source: Alphabet.
YouTube keeps gainingYouTube's viewing rose 6% from June to July, according to Nielsen, while streaming overall climbed to 49% of all TV time.
Netflix's own viewing is still growing, but far more slowly. Its members watched over 97 billion hours worldwide in the first half of 2026, up 2% from a year earlier. Nielsen's Gauge only tracks the U.S., of course. But the global number suggests Netflix's problem is more about YouTube growing faster than about people watching less.
Management, though, has pushed back on making too much of hours.
"[T]here is not a linear relationship between view hours and revenue and profit because all hours are not created equal," co-CEO Greg Peters said on Netflix's second-quarter earnings call in July.
Live events are his example. Netflix expects them to make up just over 5% of its content spending this year but only around 1% of viewing hours. Yet they produced six of the company's 10 best days for new sign-ups in the last five years.
But co-CEO Ted Sarandos admitted at a Bloomberg conference this week, when asked about Netflix's slower viewing growth, that "we're not growing as fast as I want us to."
Is it costing Netflix money?Not much, at least not yet. Showing how stable the business still is, Netflix's second-quarter revenue grew 13% year over year to $12.6 billion, and operating income climbed 11% to $4.2 billion. Netflix also hiked U.S. prices in March, its first increase there since January 2025. Its standard plan moved to $19.99 a month from $17.99. Management said the effect of its first-half price changes, including in the U.S., was consistent with past increases.
A streamer losing its grip on U.S. viewers might struggle to push through a $2 monthly increase on its standard plan. Netflix did it anyway. And it expects ad revenue to roughly double this year, to around $3 billion.
U.S. growth has slowed sharplyThe place to check for damage is Netflix's U.S. and Canada region, which includes the U.S. market the Gauge tracks. Revenue for the region climbed 18% year over year in the fourth quarter of 2025. Growth then fell to 14% in the first quarter of 2026 and 10% in the second, far below the company's 13% overall rate.
Management said second-quarter growth in the region reflected just a partial-quarter lift from the latest price change. This should make the third quarter, which Netflix reports on Tuesday, Oct. 20, the first full quarter with the new U.S. prices in place.
Ads carry a risk, too. For parent Alphabet (GOOGL +1.55%)(GOOG +1.62%), YouTube's ad revenue rose 13% year over year to around $11.1 billion in the second quarter -- almost four times what Netflix expects its ads to pull in for all of 2026. And advertisers can follow viewers.
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Yet investors aren't paying much for Netflix's growth. Based on what analysts on average expect Netflix to earn over the next 12 months, shares cost around 19 times earnings, in line with the S&P 500's (^GSPC +0.73%) forward price-to-earnings ratio of about 19. Put another way, Netflix is priced like an average stock, though management expects operating income to climb more than 20% in 2026.
Does YouTube's widening lead make Netflix stock a sell? I don't think so. Netflix is losing ground in hours, yet its pricing and ad results haven't followed that share down. And at this valuation, much of the YouTube worry seems baked into the shares.
What I'd watch on Oct. 20 is U.S. revenue growth. If it doesn't rise with a full quarter of higher prices behind it, I'd take YouTube's lead much more seriously.
Elon Musk tvrdil, že tržby z AI SpaceX v září překonají všechny ostatní příjmy firmy. Potvrzení nebo vyvrácení má ukázat až čtvrtletní report na konci října či začátkem listopadu.
Elon Musk told SpaceX employees in August that AI revenue would overtake every other part of the business by September. The deadline has passed, and the numbers that will confirm or contradict him are weeks away from filing.
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Elon Musk set a date. He released a 30-minute all-hands video on X on August 11, 2026, which Johnny Rice of The Motley Fool reported on. In it, the SpaceX (NASDAQ:SPCX | SPCX Price Prediction) chief told employees: “Probably our AI revenue, not probably, definitely, our AI revenue will exceed all other SpaceX revenue probably in September, like next month.”
Musk opened with “probably,” switched to “definitely,” then returned to “probably in September.” He stated the crossover with confidence but hedged timing. September has ended, so investors can check this forecast against reported numbers.
What the Crossover Required Johnny Rice cited SpaceX’s second-quarter report: total revenue was $7.81 billion, up 92%. Per Rice, AI contributed $2.56 billion, while Connectivity and Space brought in $5.25 billion combined. AI needed to more than double, assuming the rest of SpaceX stopped growing.
The rest of SpaceX kept growing. The Q2 earnings release filed with the SEC shows Connectivity revenue of $4.291 billion, up 66%. Starlink’s enterprise and government line rose 108%. AI revenue rose 247%, but its $367 million advertising line fell year over year.
On the August 4 earnings call, a SpaceX executive said the company had “contracted an additional $6.7 billion of cloud services revenue over a six-month period that begins ramping starting in October of this year.” That revenue starts after Musk’s deadline.
Musk’s Bigger Number Dwarfs Wall Street’s In the same video, Musk set a target of 10 gigawatts of AI computing capacity by the end of next year. He valued that capacity at roughly $30 to $50 per watt. From those two figures, he derived annual AI revenue of $300 billion to $500 billion by 2028. On the earnings call, he described the per-watt figure this way: “This is just a guess.”
Musk also said Grok will be trained on SpaceX’s internal information, including employees’ own work: “So in a way, it’ll be trained on you.”
Rice cited a much smaller outside estimate. After SpaceX signed its computing deals with Anthropic and Alphabet (NASDAQ:GOOGL), Goldman Sachs (NYSE:GS) projected $15.6 billion in AI revenue for all of 2026, according to The Motley Fool.
Three Obstacles Between the Forecast and the Filings Power. SpaceX faces public backlash over methane-burning gas turbines powering Colossus 1 and 2 (The Motley Fool). Capital. Rice noted SpaceX spent over $25 billion on AI last quarter. The filing shows $15.83 billion of the quarter’s $18.37 billion capex went to AI compute. Capacity stood at 1.4 gigawatts at Q2 end. Rice expects a funding shortfall despite $93.52 billion in cash. Musk said SpaceX expects only “a very small percentage” of NVIDIA (NASDAQ:NVDA) GPUs next year. Contracts. Either party can exit the Anthropic and Google contracts with a 90-day notice, according to The Motley Fool. If a customer leaves, SpaceX misses the revenue it built capacity for. How to Settle the September Question SpaceX has filed nothing since the August 4 8-K. The third-quarter report, expected in late October or early November, should answer the question. Check SpaceX’s investor relations site for:
Q3 AI division revenue versus Connectivity plus Space. Look for monthly or exit-rate disclosure if quarterly totals don’t break out September. Progress toward the $100 billion annualized run rate targeted for December, which Musk called “not a question mark”. Whether any customer has used its exit clause. The stock has already moved on the AI story. Shares closed at $158.96 on October 2, up 7.35% on the day and 12.97% over the past month. On October 1, SpaceX launched Google AI chips into orbit as part of its space-based data center push (CNBC). If Q3 numbers show AI still trailing Starlink, the stock will be trading on Musk’s forecast ahead of reported results.
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Lucid po jednání s AlixPartners popřel spekulace o bankrotu; poradce jej nakonec nedoporučil. Firma teď cílí na snížení hotovostních výdajů o 1,4 miliardy USD v roce 2026.
There was an initial shock to Lucid's (LCID -1.43%) stock price when it was announced that the company was working with restructuring consultant AlixPartners. Lucid and AlixPartners were both quick to dispel rumors of a potential bankruptcy, and after their work together concluded, AlixPartners concluded it was not recommending bankruptcy.
For investors willing to accept the risk that Lucid may in fact never turn its business around and may always be plagued by struggling gross profits, heavy cash burn, and consistent delays/recalls, its stock price could definitely pop if it can prove tangible progress in its turnaround. Here are four projects for investors to keep an eye on as Lucid tries to become the latest turnaround success story while rewarding investors.
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Four must-win projects For Lucid to start giving investors optimism, it first needs to execute its cash-saving plan, especially given that the company's cash burn remains elevated and the electric vehicle (EV) maker has failed to protect shareholders from significant dilution amid capital raises. More specifically, Lucid has identified $1.4 billion in cash reductions for 2026 alone. That will be driven by roughly $600 to $800 million in inventory optimization, roughly $500 million in reduced capital expenditures, and another roughly $200 million in operating expense savings.
Hand in hand with Lucid conserving cash and lowering costs is the EV maker's upcoming midsize platform. Part of Lucid's "operational reset" and $1.4 billion in savings comes from a decision to delay the production of this platform. The first vehicle to be launched on the new and more efficient midsize platform will be the Cosmos SUV, which is now slated to make its debut during the second half of 2027.
Though the Cosmos is delayed, investors shouldn't put the company's midsize platform on the back burner, as its importance remains significant. Lucid is targeting its Cosmos SUV to check in with a price under $50,000, aiming to expand Lucid's total addressable market by roughly 10 times.
But the midsize platform is more important than only launching the Cosmos, and it's projected to underpin the adventure-oriented Earth model, a third yet-to-be-named model, and a purpose-built Lunar robotaxi concept. The midsize platform is designed for a smaller 69 kWh battery pack to achieve roughly 300 miles of range. Using the company's new compact Atlas drive unit, which reduces parts count by 30% and costs by 37%, should finally help Lucid improve its gross margin -- Rivian has far outpaced Lucid in consistently improving gross margins.
Driverless tech can be lucrative Another must-win for Lucid will be its ability to develop its robotaxi and other driver-assistance features that can be monetized. Remember that Lucid, along with Uber Technologies and Nuro, announced plans to bring all three companies together to design and produce a robotaxi based on the Lucid Gravity SUV, upfitted with Nuro's L4 Nuro Driver system. Many investors also overlooked Lucid's more recent partnership with European ride-hailing juggernaut Bolt.
Image source: Lucid.
The deal with Bolt calls for Lucid to supply at least 25,000 autonomous vehicles using its upcoming, and currently delayed, midsize EV platform. Lastly, at Lucid's most recent investor day, it unveiled a purpose-built, two-seat dedicated robotaxi concept named Lunar. The steering wheel and pedals have been removed, but keep in mind that Lucid faces the same cloudy regulatory approval process that Tesla is navigating amid its Cybercab development.
The fourth project Lucid needs to complete is its curious factory in Saudi Arabia. The factory is transitioning from construction to industrialization with manufacturing systems that include stamping, paint, body, and, of course, final assembly, which are being prepared for production test runs.
What it all means Lucid's factory in Saudi Arabia is often an afterthought in investors' theses, but it could play a pivotal role in the young EV maker finally finding some business stability, as it has secured large-scale, multiyear government fleet purchase orders. The overseas factory is also backed up by roughly $3.4 billion in financing and incentives over the next 15 years. It can become an instrumental player in Saudi Arabia's Vision 2030, which aims to build a local EV ecosystem to serve the global market -- there's opportunity here, more than investors give it credit for.
Lucid has a lot on its plate, the odds seem stacked against it, and it lacks the progress to show investors, in both shareholder dilution and gross margins, that its close rival Rivian has consistently demonstrated. Lucid has to execute on these four projects because it has to quickly prove to investors that it has long-term potential, and time is running out.
Intel ve 2. čtvrtletí zvýšil tržby o 25 % na více než 16 miliard USD a hrubá marže vzrostla na 40,4 %. Klíčová je divize foundry, jejíž tržby byly téměř 6 miliard USD a vývoj 14A se blíží dokončení.
Intel's (INTC -0.56%) comeback has been quite a sight to behold. As of this writing, shares of the chipmaker have exploded by more than 220% in 2026 in part due to surging demand for the company's CPUs, but also due to increased optimism about the outlook for its foundry business. And even with that incredible run-up behind it, patient investors may still want to consider buying Intel's stock.
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Intel's turnaround is gaining momentum Intel's second quarter was one of its best in several years. Revenue jumped by 25% year over year to more than $16 billion. Intel's gross margin also improved tremendously, rising to 40.4% from 27.5%.
The bigger story here is Intel's foundry division and the turnaround happening within it. Intel Foundry's revenue was nearly $6 billion in the quarter, and its output paced 25% above the target. While the segment posted a $2.1 billion loss, the gap is narrowing. Foundry revenue from external customers was just $293 million, which means that if its turnaround is to gain steam, Intel really needs to win more business from outside clients.
The company's GAAP loss was $2.16 per share, but it's important to note that this was largely due to an escrow arrangement related to funds it was awarded through the CHIPS Act. On the books, that showed up in the form of a non-cash charge of $12.53 billion. So the quarter's loss was not reflective of operational issues.
Image source: The Motley Fool.
14A is make or break Much of Intel Foundry's future success hangs on the successful launch of Intel 14A. This is a next-generation semiconductor fabrication process node that will produce chips with even greater transistor density than 2-nanometer chips. The development of its 14A foundry is nearing completion, with risk production planned for 2027 and a high-volume mass-production target of 2028. Management's hope is that its 14A manufacturing services will position it to pose a serious challenge to Taiwan Semiconductor's dominance in cutting-edge chip manufacturing.
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In a bullish sign, Intel CFO David Zinsner implied on the Q2 earnings call that the development is going very well and that conversations with potential customers have shifted from evaluating 14A to inquiring about how much capacity they can secure.
It's been reported that a slew of megacaps, including most of the "Magnificent Seven," are among Intel's prospective foundry clients. However, Intel will need to secure one of these large-scale customers sooner rather than later.
In June, Bank of America analyst Vivek Arya gave Intel stock an unusual double-upgrade from underperform to buy, citing an optimistic outlook for its foundry business and strong demand. Intel did have to engage in a $23 billion secondary stock sale in August to help fund its foundry build-out.
Intel is firing on all cylinders Intel is due to report its third-quarter earnings on Oct. 22. The company's guidance suggests revenue could be as high as $16.8 billion. One concern is that Intel's valuation is sky-high right now. The company for years maintained a forward P/E ratio in the low teens. Now that metric stands at more than 60.
Furthermore, the consensus price target among analysts is just above $116 per share, and the stock is trading above that as of this writing. There isn't much room for error with Intel's stock.
However, given the company's main revenue sources and an ever-improving foundry operation, I'm quite bullish on Intel's future -- as long as its 14A process node proves as promising as advertised. For interested investors, it may be prudent to build a position in Intel slowly rather than all at once, given the milestones the company still needs to hit over the next couple of years.
Lockheed Martin má rekordní backlog ve výši 230,42 mld. USD a za 23 let po sobě zvýšil dividendu díky zakázkám od americké vlády. Firma ale varuje, že ziskovost mohou rychle poškodit kontrakty s pevnou cenou.
Lockheed Martin has raised its dividend for 23 straight years on the strength of a single customer, but two recent quarters exposed just how quickly that cash cushion can vanish when fixed-price contracts go wrong.
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Retirees who hold Lockheed Martin (NYSE:LMT | LMT Price Prediction) for income own a payout funded largely by one customer: the U.S. government. That customer explains why the dividend has grow for 23 consecutive years. It also explains why one weak quarter in 2026 showed how thin the cash buffer can get.
Backlog Is the Real Coverage Ratio A funded backlog that runs for years supports a dividend more reliably than demand that has to be won again every quarter. Lockheed ended Q2 2026 with a record backlog of $230.42 billion after booking $65 billion in new orders. The largest was a $35 billion multi-year THAAD interceptor contract. That backlog covers about 3.07 years of 2025 revenue, which was $75.05 billion. On the Q2 call, the CFO put it simply:
“This deep book of contracts will fuel our sales growth for years to come.”
The cash backs that up. In 2025, free cash flow (the cash left after capital spending) reached $6.91 billion, while dividends cost $3.131 billion. That covered the payout about 2.2 times. Lockheed then raised its 2026 free cash flow guidance to $7.0B to $7.2B.
Q1 2026 Showed How Fast the Cash Can Disappear Free cash flow came in at negative $291 million in Q1 2026, yet Lockheed still paid $816 million in dividends. The quarter carried $125 million in unfavorable F-16 profit adjustments, plus charges on the C-130, CH-53K and Seahawk programs. The same thing happened in Q2 2025: operating cash flow of $201 million fell short of $771 million in dividends after $1.6 billion in losses on fixed-price programs, where Lockheed bears any cost overruns. The chief executive now says that kind of risk is over:
“We’re not doing that anymore. We’re not taking that kind of risk without a counterparty that’s willing to work on a commercial basis right along with us.”
Budget Fights Leave Gaps in the Forecast Lockheed’s 2026 outlook “does not include potential impacts of government shutdown or Executive Orders.” Its filings also flag continuing resolutions, the temporary bills that keep spending flat when Congress misses a budget. Even F-35 volumes still have to get through Congress:
“Now, Congress has to work with the administration to figure out how to budget and fund that.”
Where RTX and Northrop Grumman Stand RTX (NYSE:RTX) has a second source of cash. Of its $271 billion backlog at Q1 2026, $162 billion was commercial aerospace work. Northrop Grumman (NYSE:NOC) has the same exposure Lockheed does: a $104.69 billion backlog and guidance that assumes no extended shutdown. Lockheed’s backlog is more than double Northrop’s, but it lacks the commercial buffer RTX has.
Where the Dividend Goes From Here Relying on one customer helps the dividend over a span of years and hurts it from quarter to quarter. The payout kept growing through two quarters when operating cash fell short of it. The bigger risk is new fixed-price losses arriving while Lockheed spends eight to nine billion dollars to expand munitions production (the warning signs that usually come before a dividend cut are the same ones we catalogued in a free report here: Dividend Traps).
The stock yields 2.68% at $505.47. The quarterly dividend has held at $3.45 since the last increase was declared on October 9, 2025, so the next decision on a raise could come within weeks. Two other things to watch: the multi-year PAC-3 contract management expects in the second half of 2026, and whether Q3 cash flow holds up after Q2’s boost from favorable timing of customer payments.
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Dell letos zvýšil čtvrtletní dividendu o 20 % na 0,63 USD na akcii po silné poptávce po AI serverech. Ve 2. čtvrtletí fiskálního roku 2027 tržby vzrostly o 58 % na 47 miliard USD.
It's been a banner year for Dell Technologies (DELL +3.84%), with its stock up nearly 325% at the time of this writing.
Like many other large tech stocks, it has found its place in the artificial intelligence (AI) supply chain, specifically with its AI servers, which have been in high demand this year as graphics processing unit (GPU) clusters and data centers scale.
As such, Dell has been able to distribute more capital back to shareholders, noticeably raising its quarterly dividend by 20% earlier this year. Dell only initiated its dividend program in 2023.
Can investors trust the stock for passive income?
Image source: The Motley Fool.
Why Dell's stock has exploded this year While GPUs and other chips have been at the center of the AI trade, they need to interact with other components in a data center to obtain the capabilities needed to respond to queries from, say, a large language model.
Dell's AI-optimized servers integrate the chips, memory, and other necessary components that power them, including liquid cooling and data storage, into a full server and rack.
The company also performs quality control and then ships them to customers such as neoclouds and other large customers, including hyperscalers that operate their own data centers.
While Dell isn't the only company building and selling full-scale AI racks, it's been all hands on deck amid massive AI demand, resulting in shortages across the supply chain.
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In its second quarter of fiscal year 2027, the company posted $47 billion in revenue, up 58% year over year, while diluted earnings per share of $6.34 surged 273%.
Management also lifted its full-year guidance from $167 billion to $192 billion, implying 69% annual growth.
"Demand is broadening across neoclouds, sovereigns, and enterprise customers, and our customer count has surpassed 6,500," Dell's Chief Operating Officer Jeff Clarke said on the company's most recent earnings call. "The scale and complexity of these deployments reinforce why customers choose us."
Can Dell's dividend be trusted? It's pretty easy to see why Dell was able to raise its quarterly dividend by 20% to $0.63 per common share.
The much-improved financials have also contributed to a 224% increase in adjusted free cash flow in the second quarter. More free cash flow means more money for dividends. Dell's trailing-12-month free cash flow yield of 2.37% far exceeds its trailing dividend yield of 0.43%.
The payout ratio is also not high, with $2.52 in annualized dividends per share easily covered by this quarter's profits alone. The company is also repurchasing stock, with nearly $3.8 billion of share repurchases in the most recent quarter, which dwarfs the $405 million of dividend payments.
Now, obviously, the big question or future concern for Dell's dividend is what happens if AI demand dries up.
While there's certainly no evidence of this happening right now, the hyperscalers continue to raise their future guidance for AI-related capital expenditures, which could very well top $1 trillion next year. But it's hard to imagine this level of spending continuing like this forever.
When evaluating stocks for dividends, it's key for investors to consider what a company's earnings and free cash flow could be over the long term to estimate what a sustainable dividend looks like and how much it can be raised each year.
The good news is that Dell's $2.62 projected annualized dividend is still well below the $8.68 in diluted earnings per share the company generated in fiscal year 2026, or even the $6.38 it earned in fiscal year 2025.
This tells me that even if earnings were to slow considerably, Dell's dividend would still be covered, so I see no reason why the dividend can't be increased annually moving forward.
That said, Dell's 0.43% annual yield is not particularly attractive, so if you're purely focused on passive income, there are likely more attractive dividend stocks out there. But higher-yielding dividend stocks may not be able to tap into the AI trade like Dell can, for better or worse.
Rocket Lab uzavřel se Synspective kontrakt na 20 dalších startů Electronu, největší komerční deal v historii této rakety. Objem nevyřízených zakázek firmy tím přesáhl 100 misí.
Rocket Lab (RKLB +4.91%) signed a deal for 20 new Electron launches with Japanese radar-satellite operator Synspective late on Sept. 30. The company called it the largest commercial launch contract for Electron in its history. It also boosts Synspective's total to 47 Electron missions, the most of any Rocket Lab launch customer.
And the order took the company's launch backlog beyond 100 missions, up from over 70 contracted missions in early May and 90-plus in August.
The growth stock has risen about 6% since the news, to roughly $74 as I write. Two days before the deal, SpaceX's huge Starship rocket first reached orbit -- another reason some investors worry about Rocket Lab's launch business.
Image source: The Motley Fool.
Synspective keeps booking years aheadSynspective makes StriX satellites, which use radar to image the ground through clouds and at night. It was one of Electron's first customers, and the relationship has grown fast.
When the two companies signed a 10-launch deal in September 2025, Synspective had six StriX satellites in orbit and 21 more Electron missions booked. After a Sept. 26 launch from New Zealand, it now has 13 of its originally planned 30 satellites up, with 34 launches left. The 20 new missions are scheduled yearly from 2028 through 2031.
In other words, Synspective flew seven more missions in a year and still added to its order.
"Securing another 20 dedicated launches now gives us long-term certainty for our constellation expansion," Synspective founder and CEO Motoyuki Arai said in Rocket Lab's announcement.
I'd say that's the key to Electron's appeal. A customer booking rides years ahead is buying a launch on its own schedule, to its own orbit, on a rocket sized for its satellites. A seat on a far bigger SpaceX rocket is a different product, which may explain why Electron keeps winning repeat customers.
How long would 100 missions take?Rocket Lab launched 16 Electron rockets in 2024 and a record 21 in 2025. It launched 12 more in the first half of 2026, so it's headed for another record if the second half keeps up.
At last year's rate, a 100-mission backlog would take around five years to fly. Of course, that's a rough estimate, because some of the count is booked on Neutron, the bigger reusable rocket that hasn't launched yet.
Still, the direction's easy to see. The count climbed by around 30 missions in under five months, even as Electron kept flying.
The economics have moved the right way, too. Highlighting the improvement, Rocket Lab's revenue per launch was $9.2 million in the first half of 2026, versus $7.5 million a year earlier. Meanwhile, cost per launch dropped to $4.9 million from $5.3 million. Management credits customer mix and mission complexity for the rise, so it's not a clean price hike.
But a launch book that runs years ahead could give Rocket Lab less reason to discount.
The stock still looks overpricedRocket Lab didn't say what Synspective is paying. But if the 20 launches price anywhere near the first half's average, they'd be worth roughly $180 million spread across four years, starting in 2028. That's around $45 million a year, against the $250 million to $265 million in revenue management expects for the third quarter alone.
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Launch is also the smaller piece of the business. In the second quarter, launch services revenue fell 4% to $44.6 million compared to the year-ago quarter, mainly because of the timing of revenue recognition. That was under a fifth of Rocket Lab's $234 million in total revenue.
Meanwhile, a share price around $74 values Rocket Lab at about $50 billion, counting its convertible preferred shares and September's stock sale. Rocket Lab still loses money (its second-quarter net loss was $49 million, down from $66 million a year before), so a price-to-earnings ratio doesn't apply. Instead, the stock trades at almost 50 times sales, based on the annual revenue pace of about $1 billion that its third-quarter guidance implies. And a big chunk of Rocket Lab's launch growth from here rides on Neutron, which the company said in August it aims to deliver to its launch pad this quarter.
Does a backlog of over 100 missions change the case against the stock? Not for me. It makes Electron's next several years unusually easy to see, and it suggests small-satellite operators still want a dedicated ride even while SpaceX's capacity grows. But this deal adds modest revenue that won't come in until 2028, and the valuation already assumes years of growth far beyond Electron. I'd want a much lower price before buying the stock.
