CLEAR Secure ve 2Q fiskálního roku 2026 zvýšil tržby o 26,6 % na 277,8 milionu USD a bookings o 32,8 % na 295,9 milionu USD. Volný peněžní tok dosáhl rekordních 189 milionů USD.
CLEAR Secure NYSE: YOU reported fiscal second-quarter 2026 results marked by double-digit bookings and revenue growth, expanding profitability and record quarterly free cash flow, while management highlighted continued investment in airport services and its CLEAR1 identity platform.
The company ended the quarter with 43.5 million total members, up 30% year over year, and 8.3 million active CLEAR+ members, up 15.2%. Total bookings rose 32.8% to $295.9 million, while revenue increased 26.6% to $277.8 million.
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Founder, Chair and Chief Executive Officer Caryn Seidman Becker said the company generated $189 million in free cash flow during the quarter, a 60% increase from a year earlier. She also said CLEAR surpassed the 35% adjusted EBITDA margin target established at the time of its IPO five years ago, reporting a 36.4% adjusted EBITDA margin.
Travel products drive member growth Management attributed travel-business momentum to its “home-to-gate” strategy, which combines airport security access with mobile travel tools, concierge services and other airport offerings. Becker said the company’s mobile app, which includes calendar synchronization, travel guidance, airport wayfinding and live updates, is averaging 1 million monthly users.
CLEAR continued expanding its airport footprint during the quarter. Chief Financial Officer Jen Hsu said Indianapolis and Bentonville became the company’s two newest CLEAR+ airport locations. CLEAR Concierge, its service offering airport assistance, expanded to seven additional locations and is now available in 39 airports.
The company also cited continued rollout of its eGates, which covered more than 70% of its network at quarter-end. According to Becker, the gates enable member verification in under five seconds. Hsu said eGates improved labor efficiency, with direct salaries and benefits declining to 17.3% of revenue from the prior-year period, an improvement of approximately 450 basis points.
“That efficiency has turned what was once a pure cost center into a driver of top-line growth,” Hsu said, adding that the company has redeployed ambassadors from lane operations toward hospitality and sales-related initiatives such as concierge services.
CLEAR also began testing new airport commerce initiatives. Becker said the company launched its first concessions partnership at Newark and is beginning a Starbucks pilot at LaGuardia, where members can order coffee in advance for pickup on their way to a gate.
Effective July 1, CLEAR increased standard membership pricing by $10 to $219, with changes also made across many airline pricing tiers. Family-member pricing remained at $125. Hsu said early retention rates have remained healthy following the increases and management sees additional long-term pricing opportunities.
CLEAR1 identity platform expands Beyond travel, management emphasized opportunities for CLEAR1, the company’s business-to-business identity platform. Becker said rising concerns around synthetic identities, deepfakes and fraud are increasing demand for stronger identity-verification systems across workforce, healthcare, consumer and government applications.
During the quarter, CLEAR introduced an identity framework featuring three proprietary products: Vertex, Apex and Helix. Becker said Vertex is intended to provide a stronger identity foundation beyond document-only verification; Apex adds multilayer validation for higher-risk uses such as Medicare; and Helix is designed for high-stakes settings and uses witness verification.
The company said it is developing a GovTech vertical, citing opportunities to address fraud, waste and abuse across federal and state programs. Becker pointed to CLEAR’s longstanding work with the Department of Homeland Security and said the company is working with agency leaders around secure and customer-focused identity experiences.
Hsu said CLEAR1 signed a significant number of new partners in the quarter, with average deal sizes increasing. Net-new customer signings increased more than 50% sequentially from the first quarter, while the pipeline grew more than 50% quarter over quarter, she said. The company is seeing demand from channel partnerships, government, healthcare, workforce and consumer verticals.
Management noted that larger CLEAR1 contracts could create variability in the timing of bookings. Becker said the company intends to pursue large contracts as it expands the platform.
Margins, cash flow and outlook CLEAR reported operating income of $83 million and adjusted EBITDA of $101.1 million, representing approximately 900 basis points of adjusted EBITDA margin expansion year over year. Hsu said the company delivered about 70% adjusted EBITDA flow-through during the quarter.
Net cash provided by operating activities totaled $201.2 million, and free cash flow reached $189 million. The company ended the quarter with $959 million, or more than $7 per share, in cash and marketable securities. During the third quarter to date, CLEAR repurchased approximately $22 million of shares at an average price of $52.73.
Hsu noted that the company expects negative free cash flow in the third quarter because it will settle an accrued partnership liability with its credit-card partner. The company disclosed an approximately $315 million accrued partnership liability that is scheduled to be paid in the third quarter, though management said the payment is already reflected in full-year guidance.
Third-quarter revenue guidance: $284 million to $287 million. Third-quarter total bookings guidance: $311 million to $316 million. Full-year 2026 free-cash-flow guidance: at least $480 million, raised from at least $465 million. At the midpoint, the third-quarter outlook implies year-over-year revenue growth of 24.6% and bookings growth of 20.5%, according to the company.
Management also discussed future network expansion, including potential opportunities in Canada and Mexico, while Becker said the company remains focused on building more comprehensive U.S. airport coverage before pursuing international markets more broadly. President Michael Barkin added that CLEAR has approval through its TSA partnership to enroll international members from 42 visa-waiver countries and is seeing organic growth from those members using the U.S. network.
About CLEAR Secure (NYSE:YOU)CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.
Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.
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Wendy’s po šesti letech ztratila pozici dvojky mezi americkými burgerovými řetězci, když ji v USA předstihl Burger King. Burger King ve 2. čtvrtletí zvýšil srovnatelné tržby v USA o 8,5 %, zatímco Wendy’s klesly o 7 %.
Wendy’s has lost its place as America’s runner-up to McDonald's, ending a six-year run as the second-largest burger chain, being surpassed by a resurgent Burger King.
Burger King reclaimed the No. 2 position as its U.S. turnaround gains momentum, with domestic same-store sales jumping 8.5% in the second quarter. Wendy’s, meanwhile, reported a 7% decline in U.S. same-store sales, marking its sixth consecutive quarter of contraction.
Wendy’s new CEO Bob Wright acknowledged the chain’s problems Friday, saying its competitive edge has weakened as customers have pulled back.
"Today we are clearly not performing at our potential," he wrote in a statement.
BURGER KING UNVEILS 'WHOPPER GUARANTEE' WITH FREE BURGER IF ORDER MISSES THE MARK
Wendy's rose to prominence in with his famous "Where's the Beef" ad campaign, but has lost its six-year hold on the No. 2 spot to McDonald's in the U.S. burger battle. (Photo by ZAMEK/VIEWpress)
"Our traffic, our value proposition and franchisee economics are not meeting our expectations. We have already begun taking action across five areas that we've identified to drive the turnaround: rebuilding a quality menu at compelling value, marketing that drives demand, operational excellence, a digital experience that builds frequency, and restaurants as an engine for growth."
McDonald’s remains the dominant U.S. burger chain by a wide margin, leaving Burger King and Wendy’s fighting for a distant second place.
Wendy’s had surpassed Burger King roughly six years ago, helped by the successful nationwide rollout of its breakfast menu. But its hold on the No. 2 spot has eroded as Burger King poured money into improving restaurants, advertising and its core menu.
Restaurant Brands International, Burger King’s parent company, launched a broad U.S. turnaround effort in late 2022 after sluggish sales. The strategy has included restaurant remodels, increased marketing spending and changes intended to improve food quality and the customer experience.
BURGER KING'S IMPOSSIBLE WHOPPER TO HIT MENUS ACROSS THE US
The new Burger King Whopper is served in a box instead of a paper wrapper. (Burger King / Fox News)
More recently, Burger King has focused on its signature Whopper.
The chain revamped the burger earlier this year, making changes to its bun, packaging, mayonnaise and other elements. Burger King U.S. and Canada President Tom Curtis told The Wall Street Journal that the improvements are helping bring customers back.
"A lot of people are saying they’re coming back for the first time in a long time," Curtis said.
Burger King has also introduced a Whopper quality guarantee, pledging to remake an order if a customer is unhappy with it and provide another Whopper free on a future visit.
BURGER KING BRINGS BACK FAN FAVORITE FOR THE FIRST TIME IN 15 YEARS
A McDonald's Big Mac meal on June 8, 2024, in Bangkok, Thailand. (Lauren DeCicca/Getty Images / Getty Images)
"When we asked guests where we could do better, they gave us a lot of honest feedback, and now it's our responsibility to act on it," Curtis wrote in a statement in July. "We're not going to get everything right every single time, but we're committed to listening intently and improving every day.
"When guests choose us, they expect high-quality food, orders made the way they asked, and a team that's there when they need us. That's what these changes are about. We're raising the standard in our restaurants, so every Guest feels like they made the right choice."
Curtis said the chain believes it is taking market share from competitors, including potentially McDonald’s, and sees an opportunity to turn newly won customers into regulars.
"The next generation of burger lovers are being exposed to Burger King, and that means we’ve got runway ahead for years to come," Curtis told the Journal.
MCDONALD'S SAYS US SALES SLOWED AFTER VALUE DEAL PUSH FELL SHORT
The gains underscore a sharp reversal in fortunes for two longtime rivals that have wrestled with many of the same pressures in recent years.
Both companies navigated the COVID-19 pandemic, supply-chain disruptions and rising food and labor costs before confronting increasingly price-conscious consumers frustrated by years of restaurant menu inflation.
Burger King responded with its multiyear turnaround campaign. Wendy’s, by contrast, has faced leadership turnover just as restaurant traffic weakened and beef costs added pressure to its business.
Longtime Wendy’s CEO Todd Penegor retired in 2024 after eight years at the helm. Former PepsiCo executive Kirk Tanner succeeded him but left a little more than a year later to become CEO of Hershey.
Ticker Security Last Change Change % MCD MCDONALD'S CORP. 274.48 -1.78 -0.64% QSR RESTAURANT BRANDS INTERNATIONAL INC. 73.89 +0.97 +1.33% WEN THE WENDY'S CO. 7.69 +0.30 +4.06% SHAK SHAKE SHACK 71.13 +0.89 +1.27% JACK JACK IN THE BOX INC. 17.58 +0.20 +1.15% YUM YUM! BRANDS INC. 150.76 -1.52 -1.00% Wendy’s CFO Ken Cook then served as interim chief executive before the company named Wright, the former CEO of Potbelly, to the permanent job in May.
"I returned to Wendy's because I believe we can fix our issues and I am excited to work with our team and our franchisees to drive a strong turnaround," Wright wrote in Friday's release of second quarter results.
He said Wendy’s recent problems have hurt customer traffic and put pressure on restaurant economics, an increasingly important issue for a largely franchised chain whose operators must absorb higher costs while competing aggressively for value-conscious diners.
Burger King’s improvement also comes as McDonald’s works through challenges in its own U.S. operation. McDonald’s has been revamping its burgers, testing new menu items and looking for ways to improve food quality, service and value.
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Still, Burger King’s move ahead of Wendy’s does not put it close to overtaking the Golden Arches.
McDonald’s accounted for about 48% of the U.S. burger market in 2024, according to Barclays data. Wendy’s held an estimated 11.4% share at the time, compared with about 10% for Burger King.
Akcie Atlassianu vzrostly o více než 30 % poté, co společnost ve 4. čtvrtletí oznámila GAAP zisk a provozní marži 12 %. Tržby meziročně stouply o 28 % na 1,77 miliardy USD.
Shares of Atlassian (TEAM +35.31%) soared more than 30% Friday morning, as of this writing, after the collaboration-software company reported fiscal fourth-quarter results Thursday afternoon. The odd part is what the report actually said. Management expects subscription annual recurring revenue (ARR) to grow about 18% in fiscal 2027, a step down from the 23% rate the company just delivered.
A slower forecast usually punishes a software stock. So what did investors see that outweighed one?
I'd point to the profit line. Atlassian has spent years growing quickly while losing money under generally accepted accounting principles (GAAP). In the fiscal fourth quarter, the growth finally showed up with profits attached.
Image source: Getty Images.
A 28% growth quarter that made money Atlassian's revenue for the quarter (the period ended June 30) rose 28% year over year to $1.77 billion, up from $1.38 billion. Cloud revenue, the company's most important line, grew 31% to $1.2 billion -- an acceleration. And customers are committing further out: remaining performance obligations, the contracted revenue Atlassian hasn't yet recognized, jumped 44% year over year to $4.8 billion.
The bigger change came below the revenue line. Operating income was $211 million, a 12% operating margin, compared with an operating loss of $28 million in the year-ago quarter. Net income was $139 million, or $0.55 per diluted share, another swing from a loss. On a non-GAAP (adjusted) basis, the operating margin expanded to 36% from 24%, and earnings per share rose 91% year over year to $1.87. Free cash flow climbed 32% to $475 million.
The full-year figures show the same direction. Atlassian's operating margin went from negative 3% in fiscal 2025 to 0.2% in fiscal 2026, and management is targeting about 4.5% in fiscal 2027. That's a steady climb from years of losses toward consistent GAAP profitability.
"We're complementing that top-line strength with real operational discipline. We achieved GAAP profitability, with an operating margin of 12% in Q4, reflecting our commitment to driving durable, long-term growth," chief financial officer James Chuong said in the earnings release.
A closer look at the guidance Alongside the subscription ARR guide, management expects total revenue to grow only about 13% in fiscal 2027, roughly half of fiscal 2026's 26% rate.
That looks worse than the ARR number. But timing explains a lot of it.
Atlassian announced in September 2025 that it will end most of its Data Center product line in March 2029. The announcement pulled customer purchases forward into fiscal 2026, inflating term-license revenue, and Data Center revenue is now expected to decline about 17% in fiscal 2027 as that effect reverses. Cloud revenue, however, is expected to grow about 25.5%, and for the fiscal first quarter the company expects total revenue of $1.705 billion to $1.715 billion. Management said it expects total revenue growth to reaccelerate in fiscal 2028, and that it views subscription ARR as the better measure of the underlying business in the meantime.
The rest of the caution is deliberate. Management pointed to macroeconomic and geopolitical uncertainty, tougher second-half comparisons, and the lapping of the DX acquisition, which added about a percentage point to fiscal 2026's subscription ARR growth.
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Big customers carry the cloud business, too. Atlassian ended the quarter with 57,334 customers spending more than $10,000 a year each on its cloud products, a group that accounts for over 85% of cloud ARR.
So the market's reaction makes more sense up close. Even after Friday's jump, shares trade around $144 as of this writing, about 24% below their 52-week high of $189.69. And at about 25 times fiscal 2026 adjusted earnings per share of $5.85, the valuation is arguably reasonable for a company compounding subscription ARR at a high-teens rate while margins move up. Years of heroic growth don't look baked into the price.
Of course, the guide has to hold. If cloud growth slips below the mid-20% rate management expects, the slowdown could become a demand problem instead of a timing one. Margins alone couldn't offset that, and the stock may give back some of this move.
Ultimately, I think investors read this report correctly. The growth guide came down for reasons the company can explain, and the profitability the market has waited years for finally arrived.
Watts Water Technologies vykázala rekordní tržby, provozní zisk i EPS za 2. čtvrtletí a zvýšila celoroční výhled tržeb i marží. Růst táhla poptávka po datových centrech a akvizice, zatímco rezidenční a nebytová výstavba zůstává pod tlakem.
ABB’s Rotork Deal Could Put These Flow Control Stocks Back in FocusWatts Water Technologies NYSE: WTS reported record second-quarter sales, operating income and earnings per share, driven by pricing, data center demand and contributions from recent acquisitions. The company raised its full-year sales and margin outlook, though executives said residential and non-institutional construction markets remain under pressure.
Second-quarter sales increased 19% on a reported basis to $763 million and rose 12% organically. Adjusted operating income increased 15% to $160 million, while adjusted operating margin declined 60 basis points to 21%. Adjusted earnings per share rose 18% year over year to $3.66.
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“We delivered another quarter of better-than-expected results, including record sales, operating income and earnings per share,” Chief Executive Officer Robert Pagano Jr. said. He attributed organic growth to data center demand and favorable pricing, partly offset by the company’s 80:20 product rationalization program.
Data Center Sales More Than Tripled Data centers continued to be a major source of growth for Watts during the quarter. Pagano said data center sales more than tripled from the prior-year period, supported by demand for cooling products, including the company’s recently launched CoolVault thermal storage tanks.
For the first six months of 2026, data center sales represented 8% of total company sales, including some customer-driven sales that were pulled forward from later periods. Watts now expects data center revenue to account for a mid- to high-single-digit percentage of full-year sales, compared with 3% in the prior year.
The company increased its estimate of its served addressable market for data center products to approximately $2 billion, from a prior estimate of more than $1 billion. Pagano said the revised estimate incorporates a broader global opportunity, including Europe, the Middle East and Southeast Asia, as well as growing adoption of liquid-cooling systems.
Watts said liquid cooling can increase its content opportunity per megawatt compared with traditional air-cooled systems. Pagano said the company’s content opportunity varies considerably by project, ranging from about $25,000 to $100,000 per megawatt. Liquid-cooled projects that include thermal storage tanks generally represent the higher end of that range.
While the company sees strong demand, management cautioned that data center projects can make quarterly results more variable. Customer requirements pulled roughly $5 million of data center project sales into the second quarter in the Americas and another approximately $5 million in APMEA, the Asia-Pacific, Middle East and Africa region.
Pagano said Watts has its greatest visibility into third-quarter construction schedules, while fourth-quarter timing is less certain because customers can shift project schedules or finalize designs closer to installation. The company said it is investing in inventory and capacity to respond to customer needs.
Regional Growth Led by Americas and APMEA The Americas segment posted 17% reported sales growth and 12% organic sales growth, largely reflecting pricing and volume tied to data center activity. Wholesale customers also pulled forward approximately $10 million in demand ahead of an SAP implementation at Watts’ largest site at the end of June.
Acquisitions contributed $28 million in Americas revenue, while the company’s product rationalization initiative reduced segment sales by approximately $8 million. Americas segment margin declined 150 basis points to 25.7%.
Europe reported sales growth of 12% and organic growth of 9%, supported by pricing and higher HVAC volumes. Foreign exchange also benefited reported growth. Europe’s segment margin increased 160 basis points to 13.3%.
APMEA delivered 57% reported sales growth and 31% organic growth. The company cited increased data center sales in China, including the pull-forward projects, as well as acquisition and foreign-exchange benefits. The Middle East conflict created headwinds, but the company said its recently acquired Saudi Cast operation has been relatively resilient because of its in-country business model. APMEA segment margin increased 100 basis points to 19.9%.
Margins, Cash Flow and Acquisitions Adjusted EBITDA rose 15% to $177 million, while adjusted EBITDA margin declined 70 basis points to 23.1%. Chief Financial Officer Diane McClintock said the margin decline primarily reflected 70 basis points of expected dilution from acquisitions, inflation and a difficult comparison against a prior-year tariff-related price-cost benefit.
Those factors were partly offset by favorable pricing, volume leverage and productivity gains. McClintock said the company recorded about 6% pricing in the second quarter and expects pricing to decline sequentially in the second half as it laps prior-year price increases. Watts has implemented selected price increases globally to address inflation linked to the Middle East conflict.
Year-to-date free cash flow was $108 million, compared with $105 million a year earlier. The company said higher accounts receivable from increased sales and a strategic inventory investment affected cash flow, but it expects seasonal improvement in the second half. Watts maintained its goal of converting at least 90% of net income into free cash flow for the full year.
Watts ended the quarter with a net debt-to-capitalization ratio of negative 12% and net leverage of negative 0.4 times. Pagano said the balance sheet provides capacity for strategic acquisitions, productivity investments, product development and other growth initiatives. The company completed five acquisitions in 2025 and said those businesses are performing well and remain on track to achieve or exceed targeted synergies.
Full-Year Outlook Raised Despite Construction Weakness Watts raised its full-year organic sales growth outlook to 8% to 11% and now expects reported sales growth of 14% to 17%. The company also increased its forecasts for adjusted EBITDA margin and adjusted operating margin expansion to a range of 20 to 80 basis points.
Americas organic sales are expected to rise 9% to 12%. Europe organic sales are projected to increase 1% to 4%. APMEA organic sales are forecast to grow 9% to 12%. Third-quarter organic sales growth is expected to be 5% to 8%. The guidance assumes no change in the Middle East conflict or in the current tariff structure. Watts also said it is excluding any potential refunds related to IEEPA tariffs from adjusted results.
Management said residential single-family construction conditions have become “slightly worse” than in the prior quarter, while multifamily construction remains soft. Healthcare and education have held up better, according to Pagano, but other nonresidential new-construction activity remains subdued outside of data centers.
“We are monitoring the macro environment, including tariffs, interest rates, and geopolitical developments,” Pagano said, adding that the company believes its repair-and-replacement exposure, which represents about 60% of sales, provides support across varying economic conditions.
About Watts Water Technologies (NYSE:WTS)Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.
The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.
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Viceprezident společnosti Victory Capital Thomas Michael Sipp prodal 18 177 akcií za 1,8 milionu USD kvůli daňovým povinnostem po vestingu výkonnostních akcií. Šlo o nediskreční transakci, nikoli o změnu pohledu na firmu.
Thomas Michael Sipp, executive vice president of Victory Capital Holdings, Inc. (VCTR +1.28%), reported a non-discretionary disposition of 18,177 shares on August 5, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$1.8 millionShares sold18,177Post-transaction shares (directly held)120,628Post-transaction value$12.06 millionTransaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).
Key questionsWhat was the motivation behind this $1.8 million disposition?
The transaction was a non-discretionary execution to cover tax liabilities resulting from the vesting of performance-based restricted stock; it does not reflect a change in the insider's fundamental outlook on the company.How does this impact the insider's long-term alignment with shareholders?
Despite the 13% reduction in direct holdings, Sipp maintains a 0.2% ownership interest and holds nearly 123,000 additional derivative securities, including vested and unvested awards.What has been the recent performance context for the stock?
Victory Capital Holdings shares have delivered a 44% return over the 12-month period ending on the August 5 transaction date, with the stock priced at $106.79 as of the August 6 market close.Are there significant remaining hurdles for the insider's equity?
The vesting event on August 5 was tied to the achievement of the first of four stock price performance hurdles, indicating that a significant portion of the insider's remaining derivative holdings are tied to future price appreciation targets.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$106.79Market Capitalization$6.7 billionRevenue (TTM)$1.6 billionNet Income (TTM)$460.9 millionCompany SnapshotVictory Capital Holdings operates as a global asset management platform providing comprehensive investment advisory services, fund administration, compliance support, transfer agent functions, and fund distribution to institutional and individual clients.The company generates revenue through its diversified asset management business model, delivering sophisticated investment strategies and administrative services across multiple client segments, including institutions, financial intermediaries, retirement plan sponsors, and individual investors.Victory Capital serves a broad institutional and retail client base, positioning itself as a multi-platform asset manager with capabilities spanning investment advisory, fund operations, and distribution infrastructure.Victory Capital Holdings represents a significant player in the global asset management industry with $6.7 billion in market capitalization and $1.6 billion in TTM revenue. The company has demonstrated strong financial performance with TTM net income of $460.9 million. Operating from San Antonio with 699 employees, Victory Capital leverages its integrated platform approach to deliver comprehensive asset management solutions across institutional and retail channels, positioning itself competitively within the financial services sector.
What this transaction means for investorsVictory Capital just posted a record quarter, growing revenue 24% to $435 million and pulling in $4.2 billion of net long-term inflows, the money clients added beyond what they pulled out. That performance is what lifted the stock enough to trigger Sipp's shares to vest in the first place, and the sale in this filing is only the tax being withheld on that vesting, not a decision he made about the price.
The engine has been fueled by the firm's steady diversification, with its ETF assets up 54% over the past year and its international book now above $60 billion. CEO David Brown called the quarter "a landmark period for Victory Capital, which helped the stock clear the first of four price hurdles to trigger this vesting. The three still ahead are the thing to track; Sipp and his colleagues only collect the rest of these awards if shares keep climbing, which aligns them squarely with anyone buying now. And for now their performance has led to record prices, helping shares climb over 50% this past year alone, far outpacing the broader market.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Advanced Drainage Systems NYSE: WMS reported first-quarter fiscal 2027 net sales of $1 billion, up 21% from a year earlier, as organic growth, the contribution from NDS and customer purchases ahead of price increases supported results. The company said it recorded more than $1 billion in quarterly revenue for the first time.
Organic revenue, excluding NDS, rose 9%. However, management estimated that $25 million to $30 million of revenue was pulled into the first quarter from the second quarter as customers sought to purchase before price increases took effect. Excluding that pull-forward, organic revenue growth was in the mid-single digits.
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Adjusted EBITDA increased 29% to $358 million, producing a 35.8% adjusted EBITDA margin, up 230 basis points from 33.5% a year earlier. Chief Financial Officer Scott Cottrill said the margin was the company’s second highest on record.
Stormwater and wastewater performance Stormwater revenue increased 24% to $809 million, while organic stormwater sales rose 10%, driven by pipe and allied products. Wastewater revenue increased 8%, supported by double-digit growth in tanks and residential advanced-treatment products.
President and CEO Scott Barbour said non-residential organic sales grew 14%, with resilient activity in commercial construction and large projects such as data centers and warehouses. Management also cited growth in institutional construction and continued demand for water-quality, storage and capture products.
The company’s stormwater storage category within allied products grew 18% during the quarter. Barbour pointed to product additions in the StormTech chambers line, the acquisition of Cultec and a partnership to market Aquabox plastic crates in the U.S. for projects requiring a tighter footprint.
Residential sales increased 29%, primarily reflecting NDS. On an organic basis, overall residential results were flat. Infiltrator residential revenue rose by double digits, driven by tanks and residential advanced-treatment systems, while the company experienced weakness in retail and residential land development within stormwater. Barbour attributed residential-market pressure to affordability concerns and elevated interest rates.
NDS integration and recycling investments NDS contributed $95 million in quarterly sales and posted year-over-year growth, according to management. Barbour said the quarter was NDS’s strongest seasonal quarter, although the company is still assessing the acquired business’s longer-term seasonal patterns.
Management said it is pursuing cross-selling opportunities but has not yet generated substantial revenue from those efforts. The company has begun trial programs in certain geographies after completing training, customer-facing work and back-office preparations. Barbour also said some smaller facility-related integration efforts are substantially complete, while a larger facility program is expected to affect results next year.
Advanced Drainage Systems is also expanding its use of recycled materials as virgin raw-material costs rise. Its Cordele, Georgia, recycling facility expansion is nearing completion and has begun contributing to material-cost mitigation, Barbour said. The site is not expected to reach full capacity during fiscal 2027, with full capacity expected next year.
The Cordele project is designed to increase processing capacity and create a fully integrated recycling operation capable of producing finished materials. Management said the company is working to return high-density polyethylene recycled content to 50% as quickly as possible, although some product applications and public-project requirements require virgin materials.
Costs, margins and outlook The company maintained its fiscal 2027 outlook for net sales of $3.35 billion to $3.55 billion and adjusted EBITDA of $1 billion to $1.05 billion. It continues to expect 55% to 60% of annual revenue to occur in the first half, though the first- and second-quarter revenue pattern will be affected by the customer pull-forward.
Cottrill said non-residential demand has been modestly better than anticipated, while residential demand has been modestly worse. The company expects to continue outperforming its markets, but management indicated that growth rates should be closer to mid-single digits over the full year rather than the elevated first-quarter levels.
Material costs benefited first-quarter profitability because the company used inventory purchased at more favorable costs in the prior year. Cottrill said resin costs are expected to become a significant year-over-year headwind in the remainder of the fiscal year, peaking in the second and third quarters based on current procurement visibility. Transportation costs, including diesel and common-carrier expenses, are also expected to remain elevated.
As a result, management expects second-quarter EBITDA margin to decline by more than its typical sequential 300-basis-point reduction from the first quarter, reflecting product mix, seasonality and higher resin costs. The company said it expects pricing actions to offset inflationary pressures on a dollar-for-dollar basis for the full year.
Cash flow and capital allocation Free cash flow totaled $203 million in the first quarter. The company ended the period with net leverage of about 1.5 times and approximately $901 million of available liquidity.
Advanced Drainage Systems expects about $200 million of capital expenditures in fiscal 2027, including completion of the Cordele expansion, automation investments and added capacity at Infiltrator. Management said it repurchased $57 million of stock during the quarter and returned nearly $250 million to shareholders when including dividends. The company said it will continue to prioritize organic investment and strategic acquisitions, while using dividends and opportunistic repurchases to return excess capital to shareholders.
About Advanced Drainage Systems (NYSE:WMS)Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.
The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.
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Zeta Global oznámila za 2. čtvrtletí výnosy 443 milionů USD, meziročně o 44 % více, a už 20. kvartál po sobě překonala odhady i zvýšila výhled. Firma zároveň zvýšila celoroční výhled výnosů, upravené EBITDA i volného peněžního toku.
Palantir’s Valuation Problem Just Met 2 New Growth CatalystsZeta Global NYSE: ZETA reported second-quarter 2026 revenue of $443 million, up 44% from a year earlier, or 28% excluding revenue from mergers and acquisitions. The company said the result marked its 20th consecutive quarter of beating and raising its outlook.
Adjusted EBITDA rose 56% year over year to $92 million, producing a 20.7% margin that expanded 170 basis points. Zeta also reported GAAP net income of $8.2 million, or $0.03 per share, compared with a net loss of $12.8 million in the prior-year quarter. Free cash flow reached $58 million, an increase of 73% from a year earlier.
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As Digital Ad Spend Hits a High, These Firms Could Reap Rewards“We delivered our 20th consecutive beat and raise quarter,” Co-Founder, Chairman and CEO David Steinberg said. He described Zeta as evolving beyond its historical marketing-technology positioning into an “intelligent AI infrastructure platform,” with marketing as its first application rather than its sole focus.
Guidance Raised Across Revenue, Profit and Cash Flow Based on its second-quarter performance, Zeta raised the midpoint of its full-year revenue outlook by $33 million to $1.818 billion. The updated forecast implies 39% annual revenue growth, or 25% growth excluding M&A and political candidate revenue.
Third-quarter revenue is expected to be $471 million at the midpoint, up $10 million from prior guidance. Full-year adjusted EBITDA guidance was increased by $8 million at the midpoint to $405 million. Third-quarter adjusted EBITDA is forecast at $115 million at the midpoint, up $3 million from the previous outlook. Full-year free-cash-flow guidance rose by $20 million at the midpoint to $255 million. Full-year GAAP EPS guidance increased to a midpoint of $0.10, compared with the prior range of $0.02 to $0.04. The Next Market Leaders? 5 Growth Stocks to Watch in 2026Chief Financial Officer Chris Greiner said the outlook retains a 2% to 5% cushion and assumes minimal contribution from new partnership-related revenue. The company maintained its prior second-half outlook for political candidate revenue of $7 million in the third quarter and $8 million in the fourth quarter.
Greiner said Zeta’s full-year GAAP EPS outlook excludes the possible impact of a one-time tax benefit associated with the release of a valuation allowance, which he said has a reasonable probability of occurring later in the year.
AI Adoption and Platform Usage Zeta highlighted adoption of Athena, its conversational AI offering, as a driver of engagement and expansion. Since Athena became available to enterprise customers about 130 days ago, more than 40% of super-scaled customers have become monthly active users, according to Greiner. Super-scaled customers are those with at least $1 million in annual revenue.
The company said 83% of Athena customer interactions are now spoken. Steinberg said OpenAI powers Athena’s voice functionality, while Zeta’s own inference models make decisions using the company’s Data Cloud. He said no large language models access data within Zeta’s Data Cloud.
According to Zeta, the 20% of its overall customer base that has comprehensively adopted its AI tools accounts for roughly 70% of revenue. Among super-scaled customers, the 50% that have comprehensively adopted those tools produce 75% of super-scaled customer revenue. These AI-focused users grew four times faster than customers still early in adoption, Greiner said.
Zeta also said the customers with the most extensive AI adoption had year-to-date net revenue retention 400 basis points above the company-wide level and more than 20 percentage points above customers with lower adoption. The company said its super-scaled customer relationships average 56 months, compared with 48 months several years ago.
Steinberg added that 90% of new code generated during the quarter was automated, up from 75% in the first quarter. He said this has shortened product-development cycles and allowed Zeta to respond more quickly to customer requests.
Customer Growth, Sales Productivity and Partnerships Zeta ended the quarter with 197 super-scaled customers, up 17% year over year. Quarterly average revenue per super-scaled customer was $1.8 million, also up 17%. Greiner said both growth measures exceeded the company’s longer-term model assumptions.
The company pointed to cross-selling activity under its One Zeta initiative and following its Marigold acquisition. Customers using more than one use case increased 90% year over year, while customers using five or more channels rose more than 50%. Cross-sell and upsell deals won during the quarter increased 43%.
Zeta said its total sales pipeline increased more than 60% from a year earlier and by more than $100 million over the preceding 90 days. Pipeline creation per seller more than doubled year over year, while average contract values on closed deals rose more than 40%. Quota-carrying headcount totaled 198, up 11% from a year earlier and one employee sequentially.
The company cited demand across consumer and retail, telecommunications, healthcare, financial services and automotive. Eight of its top 10 industries grew more than 20% year over year on a trailing-12-month basis, Greiner said.
Steinberg said Zeta is seeing a marketing-cloud replacement cycle among large enterprises. He cited Gap as a customer that selected Zeta under a multiyear agreement as its system of record for a next-generation marketing stack. Steinberg said Zeta displaced Salesforce and three other vendors in that deployment.
Expansion Beyond Marketing Zeta also discussed Zeta Business Intelligence, or ZBI, which it said expands the platform into a fourth use case beyond customer acquisition, growth and retention. Steinberg described ZBI as a tool for using business and customer data to make predictions and take action in real time, rather than simply creating static reports.
He said initial ZBI applications include helping a sports and entertainment company evaluate entertainment spending and streaming-distribution relationships, as well as helping an energy drink brand quantify its impact on retail partners. Zeta is being “pulled into” such uses by customers, Steinberg said, and is productizing customer requests by industry.
The company also highlighted expanded relationships with OpenAI, Snowflake and Palantir. Zeta said its Data Cloud was fully integrated with Palantir Foundry as of July 31 and that it had already secured multiple initial combined-sale agreements. Steinberg said the Foundry integration is complete and seamless for customers.
During the quarter, Zeta deployed $29.9 million to repurchase 1.6 million shares. Through July 30, it had spent $74.6 million on repurchases and had approximately $89.4 million remaining under its authorization. The company also closed a new $1 billion credit facility, including a $250 million term loan and an undrawn $750 million revolving credit facility.
About Zeta Global (NYSE:ZETA)Zeta Global, founded in 2007 and headquartered in New York City, is a leading data-driven marketing technology company. The firm's mission centers on helping brands acquire, grow and retain customers through a unified customer lifecycle management platform. Over the years, Zeta Global has built a reputation for leveraging big data and predictive analytics to power digital marketing programs across multiple channels.
At the core of Zeta's offering is the Zeta Marketing Platform, which combines identity resolution, audience insights and real-time engagement capabilities.
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CFO Victory Capital Michael Dennis Policarpo prodal 33 453 akcií za 3,3 mil. USD 5. srpna 2026 v rámci ne-diskrečního prodeje, kdy byly akcie zadrženy kvůli daňovým povinnostem po vestingu výkonnostně podmíněných akcií. Společnost tím splnila první ze čtyř cenových cílů stanovených v březnu 2026.
Michael Dennis Policarpo, President, CFO & CAO of Victory Capital Holdings, Inc. (VCTR +1.28%), reported a non-discretionary sale of 33,453 shares of Common Stock on August 5, totaling $3.3 million, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$3.3 millionShares sold (directly held)33,453Post-transaction shares (directly held)1,234,577Post-transaction value$123.42 millionTransaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).
Key questionsWhat was the nature of this transaction?
This was a non-discretionary disposition where 33,453 shares were withheld to satisfy tax withholding obligations triggered by the vesting of performance-based restricted stock; as such, the move does not reflect a discretionary change in the insider's investment thesis.What triggered the underlying vesting event?
The performance-based shares vested on August 5, after the board's compensation committee confirmed that the company's stock price met the first of four predetermined performance hurdles established in March 2026.What is the extent of the reporting person's remaining equity exposure?
Policarpo retains significant exposure to the firm with a direct holding of 1,234,577 shares and continues to hold 221,287 derivative securities, including both vested and unvested awards.How has the stock performed leading up to this vesting event?
Victory Capital Holdings delivered a 44% one-year total return as of the August 5 transaction date.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$106.79Market Capitalization$6.7 billionRevenue (TTM)$1.6 billionNet Income (TTM)$460.9 millionCompany SnapshotVictory Capital Holdings provides a comprehensive suite of asset management services, including investment advisory, fund administration, compliance, transfer agent functions, and fund distribution across multiple asset classes and investment strategies.The company generates revenue through fee-based advisory services, fund administration fees, and distribution services, serving as a platform for managing assets across institutional and retail client segments.Victory Capital serves institutional investors, financial intermediaries, retirement plan sponsors, and individual investors seeking sophisticated, tailored investment solutions across diversified portfolio strategies.Victory Capital Holdings is a global asset management enterprise with a market capitalization of $6.7 billion and TTM revenue of $1.6 billion, positioning it as a significant player in the industry. The company leverages its integrated platform spanning investment advisory, fund administration, and distribution capabilities to deliver comprehensive solutions across institutional and retail markets. With strong profitability demonstrated by TTM net income of $460.9 million, Victory Capital maintains a competitive advantage through its diversified service offerings and broad client base spanning multiple investor segments.
What this transaction means for investorsThe performance targets behind this vesting were only set in March, and the stock cleared the first of them within months, which is an important detail because it means Victory Capital's shares rose fast enough to trigger a payout the company might have expected to take longer. The withholding that trimmed Policarpo's stake is just the tax bill on that achievement, and he still holds more than 1.2 million shares directly, with more tied to hurdles not yet met.
The results behind the run were strong. Victory Capital grew second-quarter revenue 24% to $435 million and reached a record $346 billion in client assets, with net long-term inflows of $4.2 billion. As president and finance chief, Policarpo oversees the economics of all of it, and one number in particular seems worth watching: The company’s average fee rate came in at 47.9 basis points, and management said it expects it to slip toward 46 to 47 as the asset mix shifts. The fee compression is a counterweight to rising assets, because more money managed at a lower rate does not grow revenue as fast as the asset figures alone suggest, but the firm, to be clear, is still riding high to new record prices after a standout quarter.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Shopify ve 2. čtvrtletí zvýšil tržby o 34 % na 3,58 miliardy USD a objednávky z AI i návštěvnost meziročně ztrojnásobil. Akcie jsou letos stále níže o méně než 10 %.
After a rough start to the year for its stock, Shopify (SHOP +2.80%) shares have come roaring back, bolstered by its latest earnings report. After falling to a low of $94, the stock is once again nearing $150 and is down less than 10% year to date.
Dubbed a potential AI loser earlier this year, Shopify is flipping the script, showing it has the potential to be a big AI winner with agentic commerce. This all starts with its Shopify Catalog, which is built on the Universal Commerce Protocol (UCP) that it co-developed with Alphabet and others. Shopify Catalog structures product information and maps it to a standard product taxonomy (organizing items by shared categories and attributes) that feeds the product data into AI search engines, shopping apps, and agentic storefronts. Or said another way, Shopify is taking billions of products and simplifying them into an AI-ready database.
Dozens of retailers and platforms have already adopted UCP, which was introduced at the start of the year, and AI searches powered by Catalog are converting at twice the rate as scraped data. Meanwhile, Shopify saw AI-driven orders and traffic triple year over year in the second quarter. At the same time, its AI tools, led by its Sidekick AI assistant, have been seeing strong adoption, with Sidekick usage increasing 3.6 times among merchants.
Image source: The Motley Fool.
Shopify's core business remains strong While agentic AI represents a huge opportunity, the company's overall business continues to thrive. Its Q2 sales soared 34% year over year to $3.58 billion, surpassing the $3.45 billion consensus analyst estimate.
Meanwhile, its underlying metrics also look strong across the board. Gross merchandise volume (GMV) on its commerce platform increased by 32% year over year to $115.57 billion, with North American GMV rising 28% and European GMV climbing 34% in constant currencies. Business-to-business GMV, meanwhile, soared 76%, while offline GMV jumped 32% and Shop App GMV grew 70%.
Overall, merchant solution revenue (payment processing fees, Shopify Shipping, and other merchant services) jumped by 37% year over year to $2.78 billion. Subscription revenue increased by 22% to $802 million, led by its standard plan. Monthly recurring revenue (MRR), which is the value of all its subscription plans at period end, grew by 19% to $221 million.
Shopify Payments continues to see strong adoption, accounting for 68% of its global GMV in the quarter. It is now available in 40 countries, while it saw a 350-basis-point increase in Europe.
While traditionally known as a solution for small and mid-sized brands and retailers, Shopify continues to attract large brands, once again adding some well-known brands like Guess, Aritzia, and Avon to its platform. The company said large brands are increasingly choosing it for its unified commerce capabilities and speed to market.
Looking ahead, Shopify forecasts Q3 revenue to grow in the low 30% range and gross profit to rise in the mid- to high 20% range.
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Can the stock keep its momentum? Shopify looks like one of the companies best positioned for agentic commerce. It isn't just adapting to agentic commerce; it is actively defining the protocol layer (UCP) and API infrastructure (Catalog) that make conversational shopping possible.
The Shopify Catalog can provide the trustworthy, structured data that AI commerce agents require to perform optimally, positioning the company to be the leader in this emerging field. And while there is always the risk of frontier AI model companies looking to bypass this layer, Shopify's ingrained platform and AI model-agnostic approach should prove to be an advantage.
Shopify's platform is one of the true independent alternatives that retailers and brands can turn to in order to compete against Amazon, which should help it continue to drive strong growth. Its position in agentic commerce, meanwhile, only makes its platform all the more valuable.
Trading at a forward price-to-sales ratio of 10 based on 2027 analyst projections, this growth stock remains attractive given its consistent 30%-plus revenue growth and agentic AI prospects.
Palo Alto Networks za 12 měsíců zvýšila tržní kapitalizaci zhruba z 113 miliard USD na 295 miliard USD, tedy o více než 150 %. Tržby ve fiskálním 3. čtvrtletí vzrostly meziročně o 31 % na 3,0 miliardy USD.
A year ago, cybersecurity company Palo Alto Networks (PANW +1.22%) carried a market value of about $113 billion. As of this writing, it stands near $295 billion. That's a gain of more than 150% in 12 months, leaving shares within about 4% of their 52-week high. The climb spans the whole year, with the stock's 52-week range running from $139.57 to $376.98.
A move like that usually means the business transformed. And Palo Alto's business has changed. It bought identity-security company CyberArk and observability company Chronosphere, and management says demand for securing artificial intelligence (AI) deployments is accelerating its bookings.
But revenue was guided to grow about 24% in fiscal 2026, a year that ended July 31 -- and a decent chunk of that growth was acquired. The company's market value grew about six times faster.
So what changed enough to justify nearly tripling the company's value in a year? Less than the stock price implies, I'd argue.
Image source: Getty Images.
The quarter behind the rerating Palo Alto's fiscal third quarter (the period ended April 30) was strong. Revenue rose 31% year over year to $3.0 billion, up from $2.3 billion, though $388 million of it came from the newly acquired CyberArk and Chronosphere. Strip those out, and revenue grew about 14%. That's solid for a company this size, but it isn't triple-the-value growth.
The faster-growing line is next-generation security annual recurring revenue (ARR), the annualized value of subscriptions to the company's newer security products. That figure reached $8.1 billion, up 60% year over year. The acquisitions contributed $1.6 billion of it, and excluding them, growth was still 28% from about $5.1 billion a year earlier. Management expects $8.90 billion to $8.95 billion by fiscal year-end, and remaining performance obligations climbed 36% to $18.4 billion.
However you slice those numbers, the newer product lines keep growing quickly while the legacy firewall business matures.
"Q3 was a standout quarter for Palo Alto Networks, with accelerating organic bookings growth as customers turn to us to secure their AI deployments at scale," CEO Nikesh Arora said in the earnings release.
Profitability is more complicated. On a non-GAAP (adjusted) basis, earnings per share rose 6% year over year to $0.85. Under generally accepted accounting principles (GAAP), the company swung to a $177 million quarterly loss from a $262 million year-ago profit in a quarter that absorbed the two acquisitions. And management says it remains on track for a 40% adjusted free cash flow margin in fiscal 2028.
So the business is bigger, growing steadily, and executing on a huge acquisition. All true. But none of it is two and a half times better than it was a year ago.
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What the price now assumes The bulk of the stock's gain came from investors paying more for each dollar of earnings. At about $362 per share, the stock trades at roughly 96 times the midpoint of management's own adjusted earnings-per-share guidance of $3.77 to $3.79 for fiscal 2026. For comparison, adjusted earnings per share grew 6% last quarter.
A multiple like that assumes the AI-security opportunity turns Palo Alto into a much larger, much more profitable company -- and that the CyberArk integration goes smoothly while it happens. It could work out that way. Of course, the company has absorbed acquisitions well in the past, and security spending tends to hold up even when budgets tighten. That's arguably the strongest part of the bull case.
But the bar for the next report is already set: When Palo Alto reports fiscal fourth-quarter and full-year results on Sept. 1, management's own targets call for quarterly revenue of about $3.35 billion, up 32% year over year, and next-generation security ARR near $8.9 billion. Meeting those numbers keeps the story intact. It doesn't make the stock cheaper.
I think Palo Alto Networks is one of the best businesses in cybersecurity, and its AI-security position looks stronger after the CyberArk deal, not weaker. At half the valuation, I'd be interested. At 96 times this year's expected adjusted earnings, though, years of excellent execution look priced in already, and the growth backing that up is good rather than extraordinary.
Could the company grow into this valuation? Sure, over enough years. But the stock's near-tripling did most of its work through the multiple investors are paying, and multiples can compress a lot faster than earnings compound.
Xperi ve 2. čtvrtletí zvýšila tržby o 8 % na 114 milionů USD, tažené růstem mediální platformy a byznysu connected-car. Upravená EBITDA vzrostla na 24 milionů USD a non-GAAP EPS se více než zdvojnásobil na 0,28 USD.
Xperi NYSE: XPER reported second-quarter 2026 revenue growth of 8% year over year to $114 million, supported by gains in its media platform and connected-car businesses. The company said advertising and related revenue increased more than 50%, while cost reductions contributed to improved profitability.
Chief Executive Officer Jon Kirchner said the quarter reflected execution on the company’s strategy to scale its connected-TV and automotive platforms and increase monetization of their audiences. Xperi reported $24 million of adjusted EBITDA, equal to 21% of revenue and up seven percentage points from a year earlier. Non-GAAP earnings per share were $0.28, more than double the prior-year result, while operating cash flow totaled $15 million.
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Media Platform Growth Led by Advertising Media Platform revenue rose 44% year over year to $18 million, driven primarily by advertising and related revenue. TiVo ONE monthly active users reached 6.3 million at the end of the quarter, representing approximately 70% year-over-year footprint growth.
The trailing 12-month average revenue per user for TiVo ONE was $6.70, slightly below the first-quarter level because user growth outpaced revenue growth, Kirchner said. However, the company continues to expect to exit 2026 with ARPU above $10, anticipating faster advertising and related revenue growth during the second half of the year.
Xperi said it ran homepage video campaigns in the United States and Europe for brands in entertainment, insurance, automotive and technology. It also expanded integrations with advertising partners Teads and Kargo for its homepage hero video inventory.
During the quarter, the company launched TiVo Channels, which adds free ad-supported local content in more than 20 countries. It also introduced a TiVo viewership and audience-insights data offering in the United Kingdom.
Because advertising and related revenue exceeded 10% of total revenue in the quarter, Xperi said it will begin separately reporting that revenue category and its associated cost of revenue on its income statement. Chief Financial Officer Robert Andersen said the category currently has an 8% negative gross margin because of a fixed-cost base, but management expects margins to turn positive in 2027 and eventually approach media-platform margins in the 60% range.
Connected-Car Revenue Benefits From Minimum Guarantees Connected Car revenue increased 60% year over year to $40 million, primarily due to two significant minimum-guarantee deals signed during the quarter for Xperi’s HD Radio platform. Andersen said the company expects additional minimum guarantees during the second half and expects automotive revenue to increase for the full year.
DTS AutoStage’s cumulative vehicle shipments exceeded 17 million across 13 automotive brands at quarter-end, up 42% from a year earlier. BYD became the 14th automotive brand to join the AutoStage program, committing to deploy Xperi’s audio and video solution across its export-model portfolio.
Xperi also expanded DTS AutoStage video powered by TiVo to 100 countries across major original equipment manufacturers, including BMW, Mercedes-Benz and Audi. Kirchner said the company sees infotainment as an ongoing differentiator for automakers despite volatility in broader vehicle demand.
The company began monetizing automotive data through its DTS AutoStage Broadcaster Portal. Cumulus, a U.S. radio broadcaster and operator of AM/FM stations, became the first licensed customer for the product, which provides listener-behavior insights based on aggregated in-car listening data. Kirchner said the portal is sold through subscription licenses that vary based on station count and geographic coverage, and that Xperi has a pipeline of additional broadcaster interest.
Pay-TV Decline Offset Partly by IPTV Expansion Pay-TV revenue declined 11% to $45 million, reflecting a decrease in core pay-TV revenue that was partly offset by IPTV growth. IPTV revenue rose 10% to $26 million, while global IPTV subscriber households reached 3.4 million, up 13% year over year.
Xperi said it signed three new operators for TiVo managed-service IPTV and completed several renewals for IPTV and discovery offerings. It also partnered with NCTC on programmatic dynamic ad insertion, with Summit Broadband, EPB and Buckeye adopting TiVo as their platform.
Andersen said the legacy pay-TV business continues to decline, including from Xperi’s exit from consumer-facing hardware and associated subscriptions. Management expects IPTV growth to balance declines in the legacy business sometime between mid-2027 and mid-2028.
Consumer electronics revenue was $12 million, down 35% year over year. Andersen attributed the decline to minimum-guarantee arrangements for Kodak and audio solutions that had been recorded in the prior year. Xperi said it renewed multiyear DTS agreements with brands including Sony, Yamaha, Pioneer, Insignia, MSI and Realtek.
Outlook Maintained With Capital-Spending Revision Xperi maintained its annual financial outlook but raised its capital-expenditure forecast to approximately $25 million from a prior range of $15 million to $20 million. Andersen said the increase reflects persistent memory-market issues that have led customers to request software modifications to reduce memory requirements, as well as higher memory-related costs for capital equipment.
The company lowered its stock-based compensation forecast to approximately $29 million from about $31 million, citing workforce reductions over the past year. Non-GAAP operating expenses declined 6% year over year, while GAAP operating expenses excluding cost of revenue declined 10%.
Xperi ended the quarter with $91 million in cash and cash equivalents, up $20 million from the prior quarter. Free cash flow was $8 million, compared with a $3 million improvement from the prior-year quarter. The company also received the final $12 million payment tied to its sale of Perceive to Amazon.
About Xperi (NYSE:XPER)Xperi Inc NYSE: XPER is a global technology company that develops and licenses audio, imaging and semiconductor packaging solutions. The company was formed in 2016 through the spin-off of Tessera Technologies' product divisions and expanded its product portfolio in 2019 with the acquisition of TiVo Corporation. Headquartered in San Jose, California, Xperi's technologies underpin a range of consumer electronics, automotive, mobile and broadcast products around the world.
In its technology licensing segment, Xperi offers a broad portfolio of semiconductor packaging and interconnect solutions designed to improve performance and energy efficiency in chips and devices.
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The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Magnite oznámila, že tržby z Connected TV vzrostly o 36 % na 97 milionů USD a firma zvýšila celoroční výhled. Současně CEO Michael G. Barrett prodal 293 968 akcií za 6,7 milionu USD.
Michael G. Barrett, the CEO of Magnite, Inc. (MGNI +1.65%), sold 294,000 shares of the company on August 6, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$6.7 millionShares sold293,968Post-transaction shares (directly held)403,074Post-transaction value$9.8 millionTransaction value based on SEC Form 4 weighted average sale price ($22.72); post-transaction value based on the August 6 market close ($24.32).
Key questionsWhat was the structural nature of this transaction?
The activity was a cashless exercise-and-sell transaction in which the CEO exercised fully vested options at a strike price of $5.80 and concurrently sold the resulting equity at a weighted-average price of $22.72.How does this sale relate to the company's recent equity performance?
The transaction occurred when shares were priced at $22.72, following a period where the stock delivered an 8% total return over the 12 months ending on the transaction date.What is the scale of the executive's remaining direct investment?
Following this disposal, Barrett retains direct ownership of 403,074 shares, which represent an equity stake valued at $9.8 million as of the August 6 market close.What does the 10b5-1 plan imply about the trade's timing?
The adoption of the trading plan on March 13 establishes that the timing and volume of this sale were determined months in advance, separating the move from any immediate market developments or non-public information.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$24.32Market Capitalization$3.5 billionRevenue (TTM)$742.0 millionNet Income (TTM)$166.9 millionCompany SnapshotMagnite operates a global digital advertising marketplace platform that provides publishers—including connected TV channels, mobile applications, and websites—with tools and applications to manage and monetize their advertising inventory.The company generates revenue through a two-sided marketplace model, offering demand-side solutions to advertisers, agencies, agency trading desks, and demand-side platforms while simultaneously providing supply-side tools to publishers seeking to optimize ad inventory monetization.Magnite's primary customers include digital publishers, advertising agencies, advertisers, and programmatic trading platforms that collectively leverage the company's infrastructure to facilitate automated, efficient digital advertising transactions.Magnite is a leading independent platform in the digital advertising technology sector, serving as a critical infrastructure provider that connects publishers and advertisers at scale. With TTM revenue of $742.0 million and a market capitalization of $3.5 billion, the company has established itself as a significant player in programmatic advertising. The platform's competitive advantage derives from its independent positioning, global reach, and comprehensive suite of tools that address both supply-side and demand-side requirements within the digital advertising ecosystem.
What this transaction means for investorsThe options behind this sale were struck at $5.80, so with Magnite near $23, Barrett was converting a grant worth roughly $17 a share in profit, the kind of deep-in-the-money equity that dates back years. He exercised and sold under a plan he set in March, months before this week's earnings, so the timing that put the sale a day after a strong report was set well in advance. Plus, he kept more than 400,000 shares, so his stake is far from cleared.
The quarter he sold into was a good one, driven by the part of the business that matters most. Connected TV revenue, Magnite's growth engine, rose 36% to $97 million and now makes up more than half of the company's contribution, with adjusted earnings up 30%. Barrett said the company "significantly beat consensus expectations on both the top and bottom line." Magnite also raised its full-year outlook. The softer note sits in the rest of the business, since the mobile and desktop side grew just 2%, leaving Magnite increasingly dependent on connected TV to carry the whole story. But shares jumped nearly 20% after earnings, so investors are clearly still celebrating the quarter.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Magnite. The Motley Fool has a disclosure policy.
As of this writing, Rivian (RIVN +4.03%) stock sits at about $16, giving the company a market value of about $23 billion. For that price, investors get an electric vehicle maker that will deliver perhaps 70,000 vehicles this year, still loses money on them at the gross level, and just started shipping the product its whole investment case rests on.
That last part is why the next three years matter so much. The R2, a smaller and more affordable SUV than Rivian's first models, began reaching customers on June 9. Whether the stock is higher or lower in 2029 comes down to how many R2s the company builds -- and what each one earns.
Image source: Rivian.
The business the R2 is supposed to change Rivian's second-quarter report, released July 30, showed a company heading into the ramp with momentum. Revenue rose 27% year over year to $1.66 billion, and deliveries climbed 14% to 12,194 vehicles, well above the 9,000 to 11,000 management had forecast. That outperformance led the company to raise its full-year delivery outlook to 65,000 to 70,000 vehicles, from 62,000 to 67,000.
The profit picture is improving, too, though from a low base. Consolidated gross profit came in at $179 million in the second quarter, an 11% margin.
However, the automotive segment itself ran a $36 million gross loss. That's a dramatic improvement from the $335 million automotive gross loss of a year earlier -- helped in part by regulatory credit revenue -- and management said the quarter absorbed approximately $100 million of incremental costs from ramping R2 production. Strip those out, and the vehicle business would have been modestly profitable at the gross level.
What actually carried the quarter was software and services. The segment generated $515 million in revenue, up 37% year over year, with $215 million of gross profit, a 42% margin.
The commercial side keeps scaling, too. Amazon now has more than 40,000 Rivian electric delivery vans on the road.
Still, Rivian remains deeply unprofitable overall. The company expects a full-year adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $1.8 billion to $2.0 billion, and it plans capital spending of $1.7 billion to $1.8 billion this year. A $5.3 billion pile of cash and short-term investments at the end of June, since topped up by a stock sale in early July, is what funds the ramp.
The math three years out So, what could the business look like in 2029?
Rivian says its two U.S. plants (Normal, Illinois, today, plus a Georgia site backed by a Department of Energy loan of up to $4.5 billion) support capacity growth to as much as 515,000 vehicles per year in later phases. I wouldn't model anything close to full utilization by 2029. But a path from about 70,000 deliveries to somewhere near 200,000 over three years relies on expansion the company is already building, not on new ideas.
Suppose that volume arrives. At an assumed blended price of around $60,000 (R2s at the lower end of the lineup, R1s and commercial vans above it), 200,000 vehicles would produce automotive revenue near $12 billion. Add a software and services business compounding at anything like its current 37% rate, and total revenue could reach $17 billion or so, against about $6.6 billion annualized today.
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On that math, today's market value works out to about 1.4 times that future revenue -- not a demanding multiple, if the vehicles earn money by then.
That "if" is, to me, the entire investment case. A carmaker that still loses money on its vehicles at 70,000 units has to prove that volume fixes the problem. Management's case is that shared production lines in Normal spread fixed costs across more vehicles as R2 scales. The second half of this year offers the first evidence either way.
The downside is just as easy to sketch, though. EV demand can wobble, and ramps can slip. A company running an adjusted EBITDA loss near $2 billion a year has less room for error than its cash balance suggests -- and Rivian priced a 75 million-share stock offering as recently as early July.
My answer to the three-year question: The stock could be meaningfully higher if R2 volume shows up with a real gross margin attached, because the current valuation arguably isn't pricing in much success. But this remains a speculative stock, not a proven business. I'd treat it accordingly -- and only with money I could afford to see shrink.
Westlake Chemical Partners vykázal ve 2. čtvrtletí čistý zisk 14 mil. USD, tedy 0,40 USD na jednotku, stejně jako v 1. čtvrtletí. Distribuovatelný peněžní tok činil 18 mil. USD, tedy 0,50 USD na jednotku, a čtvrtletní distribuce byla 0,4714 USD na jednotku.
Westlake Chemical Partners NYSE: WLKP reported second-quarter 2026 net income of $14 million, or $0.40 per unit, matching its first-quarter result as stable production and sales volumes supported the partnership’s fixed-margin business model.
President and Chief Executive Officer Jean Marc Gilson said the partnership’s Ethylene Sales Agreement with parent company Westlake Corporation continues to limit exposure to market volatility and production risks. The agreement provides a fixed margin of $0.10 per pound on 95% of the partnership’s ethylene production.
“The stability of Westlake Partners’ business model is consistently demonstrated through our fixed margin Ethylene Sales Agreement, which minimizes market volatility and other production risks,” Gilson said.
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Cash Flow and Distribution Coverage The partnership generated distributable cash flow of $18 million, or $0.50 per unit, during the quarter. That was $3 million higher than in the second quarter of 2025, which Chief Financial Officer John Bochert attributed to higher production and sales volumes as well as lower maintenance capital expenditures following the Petro 1 plant turnaround in 2025.
The trailing 12-month distribution coverage ratio improved sequentially to 1.04 times from 1.0 times, reflecting the expiration of the impact from the Petro 1 turnaround in the first half of 2025. Gilson said the quarterly coverage ratio was 1.0 time, supported by solid operating rates at OpCo’s ethylene facilities.
On Aug. 3, the partnership declared a quarterly distribution of $0.4714 per unit for the second quarter. The distribution is scheduled to be paid Aug. 28 to unitholders of record as of Aug. 13.
The payment marks the partnership’s 48th consecutive quarterly distribution since its July 2014 initial public offering, with no reductions over that period. Bochert said distributions have increased 71% from the original minimum quarterly distribution of $0.275 per unit.
Second-quarter net income: $14 million, or $0.40 per unit Distributable cash flow: $18 million, or $0.50 per unit Quarterly distribution: $0.4714 per unit Trailing 12-month coverage ratio: 1.04 times Consolidated net sales: $297 million Consolidated Results and Balance Sheet Including the earnings of Westlake Chemical OpCo LP, consolidated net income totaled $82 million on consolidated net sales of $297 million during the second quarter.
At quarter-end, the partnership had $93 million of consolidated cash and cash investments with Westlake under its Investment Management Agreement. Long-term debt totaled $400 million, including $377 million at the partnership and $23 million at OpCo. Consolidated leverage stood at approximately one time, according to Bochert.
OpCo spent $12 million on capital expenditures during the quarter. Management said there are no planned turnarounds in 2026 for modeling purposes.
Revolver Extension and Market Outlook During July, both OpCo and the partnership extended their existing revolving credit agreements with Westlake by four years through 2031. The agreements also include a 10-basis-point reduction in the associated interest rate.
Bochert said the revolving credit extension, along with the earlier extension of the Ethylene Sales Agreement, demonstrated Westlake’s commitment to OpCo’s continued operations and its role as a supplier of ethylene to Westlake’s operations.
Gilson acknowledged that conflict in the Middle East has increased volatility in chemical prices, including ethylene prices. However, he said the partnership’s contracted fixed-margin structure leaves its ethylene margins largely insulated from those market movements.
Looking ahead, management said it will evaluate growth through four potential avenues: increasing its ownership interest in OpCo, acquiring other qualified income streams, pursuing organic expansion of current ethylene facilities, and negotiating a higher fixed margin under the Ethylene Sales Agreement.
Leadership Transition The call also marked a transition in the partnership’s finance leadership. Steve Bender, who has served as chief financial officer since the partnership’s formation more than a decade ago, is retiring next month and will serve as special advisor to the president. John Bochert has assumed the role of senior vice president and chief financial officer.
Bender said he was leaving the partnership on “very firm financial footing,” citing the recent renewals of the revolver agreements and Ethylene Sales Agreement.
About Westlake Chemical Partners (NYSE:WLKP)Westlake Chemical Partners LP NYSE: WLKP is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.
WLKP's operations are organized into two primary segments: olefins and vinyls.
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Essential Utilities vykázala ve 2. čtvrtletí GAAP EPS 0,37 USD a upravený EPS 0,38 USD. Společnost také zvýšila čtvrtletní hotovostní dividendu o 5,25 %.
Water Infrastructure: Why This Boring Sector Could Get ExcitingEssential Utilities NYSE: WTRG reported second-quarter 2026 GAAP earnings of $0.37 per share, compared with $0.38 per share in the prior-year quarter, as higher regulatory recoveries and water volumes were offset by lower gas volumes, increased operating expenses, depreciation and interest costs.
Excluding approximately $0.01 per share of merger-related expenses, the company reported adjusted non-GAAP earnings of $0.38 per share. Chairman and CEO Chris Franklin said Essential remains confident it can achieve its target of 5% to 7% annual earnings-per-share growth, using 2024 adjusted earnings of $1.97 per share as the baseline.
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Quarterly Earnings Drivers Overlooked Analyst-Approved Dividend Plays You Can Count OnChief Financial Officer Dan Schuller said earnings benefited from a $0.06-per-share increase in regulatory recoveries and surcharges, a $0.02 increase from higher water volumes, and a $0.01 benefit from water customer growth. The customer growth reflected both acquisitions and organic expansion, he said.
Those gains were partly offset by $0.02 per share of higher operating expenses, a $0.02 impact from lower gas volumes, and $0.06 of other costs. The latter category included $0.03 from increased depreciation and $0.03 from higher interest expense and lower allowance for funds used during construction, or AFUDC.
Top 3 Stocks to Outperform the S&P 500 in a DownturnOperating and maintenance expenses rose about $5.1 million, or 3.5%, from a year earlier. Schuller attributed the increase primarily to higher employee-related costs, including merit increases and medical claims, along with greater water and wastewater production costs and expenses associated with newly acquired customers.
The increase was partly offset by lower insurance expense due largely to an insurance recovery, reduced gas-segment bad debt expense, and lower customer-assistance surcharge costs. Excluding merger-related costs, operating and maintenance expenses increased 2.6%, which Schuller said was in line with the company’s historical norms.
American Water Merger Advances Franklin said Essential has received regulatory approvals for its planned merger with American Water in Kentucky, Ohio and Virginia. The company continues to expect the transaction to close during the first quarter of 2027.
Proceedings are continuing in the remaining jurisdictions. Essential has reached a settlement in principle in Texas, while public input hearings in New Jersey are scheduled for August. Testimony was filed in North Carolina at the end of the prior week, and the Illinois matter is before an administrative law judge with a statutory process scheduled to conclude by November.
In Pennsylvania, the companies remain in negotiations with parties while evidentiary hearings are underway. Franklin said the administrative law judge’s timing in issuing a recommendation could affect the closing schedule, but he characterized the current first-quarter 2027 expectation as “comfortable” based on known timelines.
“Things have gone largely according to plan,” Franklin said, while noting that regulatory approvals involve negotiations with different stakeholders across multiple states.
Essential is also conducting integration planning with American Water. Franklin said employee collaboration between the companies has exceeded his expectations and that the combined organization is intended to begin operating as a “world-class organization” immediately following closing.
Infrastructure Spending and Regulatory Pipeline Essential invested $662 million in regulated water and natural gas infrastructure during the first half of 2026 and remains on track to spend a record $1.7 billion for the full year. Franklin said the investments are intended to improve service, reliability, safety and regulatory compliance.
The company finalized rate cases or surcharges representing $56.6 million in annualized revenue during 2026 through the second quarter, with about 78% coming from water and wastewater operations. Its water and wastewater segment has five rate cases and one surcharge proceeding pending, representing roughly $79.7 million in requested annualized increases.
Essential’s Pennsylvania natural gas subsidiary has a base rate case pending that seeks $163.2 million in additional annual revenue. The company plans to file its next Aqua Pennsylvania water rate case around year-end.
Franklin said Essential delayed the Aqua Pennsylvania filing amid several ongoing regulatory matters, including the merger proceeding and the Peoples Natural Gas rate case. He described the anticipated water filing as largely driven by capital investment and said the company expects to follow its usual process while considering positions raised by Pennsylvania’s Governor’s Office on energy affordability.
Schuller said approximately 55% of Essential’s Pennsylvania capital spending for 2026 is eligible for recovery through the distribution system improvement charge, or DSIC. Franklin said the company will continue advocating to expand the DSIC mechanism to cover additional capital items.
Acquisitions, Dividend and Outlook Essential completed the acquisition of Integra Water LLC for $4.9 million, adding approximately 1,100 customers in Texas. The company also has signed agreements to acquire small systems in Pennsylvania, Texas, North Carolina, Virginia and New Jersey.
Including those signed agreements, Essential expects to add about 200,000 customers for a combined purchase price of approximately $282 million. That figure includes the DELCORA transaction, whose progress remains stalled by a federal bankruptcy court stay related to the City of Chester’s bankruptcy.
Franklin said the DELCORA agreement remains fully enforceable and assumable by American Water, and Essential does not expect the proposed merger to negatively affect its pursuit of the transaction. The company’s potential municipal water and wastewater acquisition pipeline stands at approximately 400,000 customers.
Separately, Essential’s board approved a 5.25% increase in its quarterly cash dividend. The dividend is payable Sept. 1, 2026, to shareholders of record as of Aug. 11, 2026.
Looking ahead, Schuller said Essential expects its effective tax rate to remain in the low single digits for the full year, generally below 5%. He also said a previously disclosed one-time item remains expected later in 2026 and should benefit earnings. The company has experienced higher fuel costs across its fleet and equipment base amid developments in the Middle East, which Schuller said have been incorporated into current results.
About Essential Utilities (NYSE:WTRG)Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.
The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Workiva ve 2. čtvrtletí zvýšila výnosy na 255 mil. USD, meziročně o 19 %, a překonala horní hranici výhledu o 3 mil. USD. Zároveň zvýšila celoroční výhled upravené provozní marže na zhruba 18 %.
Workiva NYSE: WK reported second-quarter 2026 revenue of $255 million, up 19% from a year earlier and $3 million above the high end of its guidance range, as subscription growth and operational efficiency supported higher profitability.
Subscription revenue rose 19% year over year to $236 million, while professional services revenue increased 12% to $19 million, driven by stronger-than-expected XBRL services activity. Chief Financial Officer Barbara Larson said foreign exchange had minimal impact on reported growth during the quarter, contrasting with the tailwind experienced in the prior four quarters.
The company reported a non-GAAP operating margin of 16.8%, exceeding the high end of its outlook by 180 basis points and improving 1,300 basis points from the second quarter of 2025. Workiva raised its full-year non-GAAP operating margin forecast to approximately 18%, reaching a target previously included in its 2027 operating model a year ahead of schedule.
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Customer Growth and Contract Momentum Workiva ended the quarter with 6,750 customers, an increase of 283 from a year earlier. Gross retention was 97%, above the company’s 96% target, while net retention was 111%. Larson said constant-currency net retention was relatively steady sequentially and remained above Workiva’s 110% target.
Current remaining performance obligations, which represent revenue expected to be recognized over the next 12 months, totaled $789 million, up 18% year over year. The figure included an approximately one-percentage-point negative foreign-currency impact.
The company also cited continued growth in larger customer relationships. Contracts valued at more than $300,000 annually increased 34% year over year to 656, while contracts above $500,000 rose 33% to 276. Workiva said 76% of subscription revenue came from customers using multiple solutions, compared with 71% a year earlier.
Chief Executive Officer Julie Iskow said demand remained consistent through the year despite a dynamic environment marked by evolving regulations and increased focus on artificial intelligence governance. She said sales teams are seeing more deal scrutiny, additional approvers and more legal review, but added that Workiva has prepared its field, operations and legal teams for that process.
“Deals do have more scrutiny, and there are maybe more approvers and more rigor at the legal level,” Iskow said. “We’re very much aware of this, prepared, and being aware and being prepared makes a real difference in our execution.”
Iskow also said deal cycles shortened during the past two quarters. The company’s strongest net-new customer addition quarter in the past seven quarters was accompanied by larger initial customer relationships, including more multi-solution and six-figure deals, she said.
Platform, AI and Industry Demand Management emphasized demand for a unified platform that combines financial reporting, governance, risk and compliance, sustainability reporting and other workflows. Iskow said finance leaders are being asked to govern data and AI, automate manual processes, deliver faster insights and maintain auditability amid a more complex regulatory environment.
Workiva highlighted growth across financial reporting, fund reporting, governance risk and compliance, and sustainability offerings. The company cited examples of customers expanding their use of the platform to support regulatory reporting, multi-entity reporting, controls management, tax reporting, enterprise risk and sustainability disclosures.
In financial services, Iskow said Workiva has expanded its presence in the U.S. and Europe and is seeing encouraging traction for its Fund Reporting products. She described the public-funds offering as still in its early stages but said the company is encouraged by deal sizes and the product’s fit with large enterprises.
The company also said sustainability buyers are increasingly seeking to connect financial and non-financial reporting processes. According to Iskow, larger sustainability wins commonly include financial reporting solutions, as organizations address requirements such as CSRD, ISSB and California’s SB 253.
Workiva recently introduced AI capabilities in advanced solution tiers, including agents for sustainability disclosure, financial tie-out and disclosure peer benchmarking. The company also launched the Workiva MCP Gateway, which it described as a governed connectivity layer for linking Workiva data and workflows with enterprise AI tools. Iskow said the capabilities are designed to preserve identity controls, permissions, governance and data lineage.
Management said adoption of premium product tiers remains early but is gaining traction. Iskow said the company has achieved a price premium of more than 20% for the tiers and is seeing customers upgrade at renewal and, in some cases, during contract periods to access AI and other advanced capabilities.
Outlook and Capital Position For the third quarter, Workiva expects total revenue of $260 million to $262 million and a non-GAAP operating margin of 17% to 17.5%. Services revenue is expected to be slightly higher than in the third quarter of 2025.
Full-year revenue is projected at $1.040 billion to $1.044 billion. Full-year subscription revenue is expected to grow about 19% year over year. Full-year services revenue is expected to increase slightly. Full-year non-GAAP operating margin is projected at about 18%. Free cash flow margin guidance was raised by 100 basis points to approximately 21%. Larson said the second-half outlook assumes foreign exchange rates remain roughly in line with June 2026 levels, resulting in minimal year-over-year foreign-currency impact on projected revenue growth in the third and fourth quarters.
As of June 30, Workiva had $815 million in cash equivalents and marketable securities, down $48 million from the prior quarter. The company repurchased 2.49 million Class A shares for $123 million during the quarter. Workiva has repurchased $244 million under its $350 million authorization, leaving $106 million available at quarter end.
While the company now expects to meet its 2027 operating-margin target early, Larson said Workiva was not updating its 2030 financial framework. She said the company remains focused on disciplined investment, sales productivity, platform selling and growth opportunities across its portfolio and international markets.
About Workiva (NYSE:WK)Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.
The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.
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With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Vistra oznámila za 2. čtvrtletí upravenou EBITDA ve výši 1,767 miliardy USD, meziročně více než o 30 %, a potvrdila celoroční výhled. Zároveň uzavřela partnerství s KKR, NVIDIA a Kuwait Investment Authority v rámci Helix Digital Infrastructure.
Analysts See Major Upside for These 5 StocksVistra NYSE: VST reported second-quarter adjusted EBITDA of $1.767 billion, up more than 30% from about $1.35 billion a year earlier, as higher generation earnings and continued retail strength lifted results. The company reaffirmed its full-year financial outlook and said it remains on track for another record year in 2026.
President and Chief Executive Officer Jim Burke said the company is seeing a “structurally improved demand environment” in its core markets. Both PJM and ERCOT recorded new all-time summer peak loads in July, with PJM exceeding 168 gigawatts and ERCOT surpassing 91 gigawatts.
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Atomic Dividends: Big Tech's New Energy BetBurke said Vistra continues to estimate annual load growth of at least 4% to 6% in ERCOT and 2% to 3% in PJM through 2030. While data centers are expected to be a significant contributor, particularly from 2028 onward, he said industrial reshoring, electrification, population growth in Texas and broader economic expansion are also driving demand.
Generation and retail contributions Vistra’s generation segment produced about $994 million in second-quarter adjusted EBITDA, compared with approximately $593 million in the prior-year quarter. Chief Financial Officer Kris Moldovan attributed the improvement primarily to favorable hedging activity, which resulted in average realized prices that were approximately 5% higher per megawatt-hour than a year earlier.
Radioactive Returns: Geopolitics and AI Fuel a Nuclear SupercycleOther factors included higher PJM capacity revenues, optimization of flexible gas generation to capture margin opportunities, the restart of Martin Lake Unit 1 and contributions from assets acquired from Lotus in the third quarter of 2025.
The retail business contributed about $773 million in adjusted EBITDA, compared with approximately $756 million a year earlier. Moldovan noted that the second and fourth quarters are typically the strongest seasonal periods for retail margins.
Operationally, Burke said Vistra completed planned refueling outages at three nuclear units and 92 planned outages across its gas and coal fleet ahead of the summer season. During recent heat waves in Texas and PJM, the company achieved commercial availability above 97% across its fleet, he said.
Guidance maintained as 2027 market conditions shift Vistra reaffirmed 2026 adjusted EBITDA guidance of $6.8 billion to $7.6 billion and adjusted free cash flow before growth guidance of $3.925 billion to $4.725 billion. Moldovan said first-half performance gives the company confidence it can deliver results at or above the midpoint of those ranges.
The company also maintained its 2027 adjusted EBITDA midpoint opportunity range of $7.4 billion to $7.8 billion. Moldovan said ERCOT forward curves are “meaningfully lower” than the levels used when the range was established in late 2025, but higher PJM prices, Vistra’s hedging program and downside protection from the nuclear production tax credit provide offsets.
Still, Moldovan said those factors do not fully offset the ERCOT headwinds and that the company is trending toward the lower end of the range. The 2027 range excludes the pending Cogentrix acquisition and expected above-market value from long-term power purchase agreements at Vistra’s PJM nuclear sites with Meta.
Based on prior disclosures, Moldovan said those two transactions could add roughly $700 million to Vistra’s 2027 midpoint opportunity, absent other factors such as market-curve changes or Cogentrix hedge levels.
Helix partnership expands data-center strategy Vistra announced a partnership with KKR, NVIDIA and the Kuwait Investment Authority as a founding investor in Helix Digital Infrastructure. The platform is intended to combine power solutions, land and other digital infrastructure for data-center customers.
Vistra committed up to $1 billion to Helix over time, with investments above $500 million subject to specified milestones. The company will also act as Helix’s preferred power partner and may participate in projects through contracted new generation or contracts involving existing assets.
Burke said the arrangement is additive to Vistra’s existing data-center strategy rather than a replacement for its own development efforts. The company retains the option to pursue projects with Helix or independently.
Chief Strategy and Sustainability Officer Stacey Doré said Helix could simplify multiparty discussions involving hyperscale customers, co-location developers and equipment providers. Vistra would pursue only projects that meet its established mid-teens levered return threshold, while Helix could also provide exposure to projects where Vistra is not the power provider.
Capital allocation and regulatory developments Vistra expects to generate more than $10 billion of available cash across 2026 and 2027. The company has allocated roughly $3 billion to shareholders through repurchases and common and preferred dividends, while planning $4.5 billion to $5 billion for growth investments, including Cogentrix, Permian gas units, PJM nuclear projects supported by Meta agreements, the Oak Hill 2 solar project and Helix.
Since beginning its repurchase program in November 2021, Vistra has retired about 171 million shares at an average cost of roughly $38 each. It has returned more than $6.5 billion through repurchases and has about $1.2 billion remaining under its current authorization, which it expects to use by the end of 2027.
The company expects an additional $2 billion to $2.5 billion of cash to be available for allocation through the end of 2027. Moldovan said Vistra will balance potential shareholder returns, growth investments meeting its return threshold, debt reduction and efforts to improve its credit profile.
In Texas, Burke said Vistra supports efforts to audit and narrow the ERCOT data-center interconnection queue, which he said has included demand estimates substantially above the company’s own long-term forecast. He said Vistra does not view the process as a moratorium and does not expect it to affect its Comanche Peak project, which is targeted for energization at the end of 2027.
In PJM, Doré said Vistra remains in active discussions with customers for both existing generation and new-build projects. She said the company supports market-based incentives for data-center load flexibility rather than mandates requiring customers to bring their own new capacity.
About Vistra (NYSE:VST)Vistra NYSE: VST is an integrated power company that develops, owns and operates electricity generation and retail businesses in the United States. The company's operations span wholesale power production—through a diversified fleet of thermal and lower‑carbon generation assets—and retail electricity supply to residential, commercial and industrial customers. Vistra serves organized wholesale markets and competitive retail markets, with a notable presence in Texas and other regional U.S. power markets.
Vistra's core activities include the ownership and operation of generation facilities, the commercial dispatch and optimization of those assets into wholesale markets, and the sale of electricity and related services to end-use customers through its retail brands.
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The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.
NCR Voyix ve 2. čtvrtletí zvýšil upravené EBITDA o 5 % na 98 milionů USD a tržby očištěné od prodeje hardwaru vzrostly o 1 %. Firma potvrdila celoroční výhled.
3 Value Stocks Flying Under the Radar—For NowNCR Voyix NYSE: VYX reported second-quarter results that reflected continued growth in recurring revenue and adjusted EBITDA after accounting for its hardware-business transition, while management emphasized adoption of its cloud-native Voyix Commerce Platform and the potential for AI-enabled deployments to reduce implementation time and costs.
Chief Executive Officer James Kelly said revenue rose 1% from a year earlier when adjusted for the ODM transaction, while recurring revenue increased 3% and adjusted EBITDA rose 5%. The company said its commercial actions from the prior year, along with growth in software, services and payments, supported the results.
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On a reported basis, total revenue declined 21% to $523 million, primarily reflecting the transition of the hardware business at the end of the first quarter, according to Chief Financial Officer Brian Webb-Walsh. Excluding that impact, revenue increased 1%.
Platform adoption and deployment efforts Kelly said NCR Voyix has signed 25 Voyix Commerce Platform, or VCP, customers since mid-2025, with 10 customers live across more than 2,000 lanes. The company expects another 1,000 lanes to be in production by the end of September.
The company’s VCP contracts represented $286 million in remaining contract value at quarter-end, up 65% year over year. Webb-Walsh said the metric includes software revenue under long-term contracts and does not include services, payments or hardware sales. He said the measure may not rise in a linear fashion each quarter because revenue begins to be recognized after contracts are signed and contract sizes vary.
Management said it is increasingly engaging customers on broader enterprise platform transformations instead of individual product purchases. Kelly said customers are looking to simplify operations, improve security and add flexibility, though technology replacement decisions can take time, especially for large organizations with longstanding point-of-sale systems.
During the quarter, NCR Voyix completed what Kelly described as its first fully remote Voyix POS installation for a large European grocery retailer, completing the deployment in roughly half the time of a traditional installation. The company aims to reduce remote installation time to less than one hour per store.
Chief Product Officer Nick East said AI agents are being used to analyze existing customer environments and migrate configurations, operational data and application settings to the new platform. He said the company can convert some large grocery locations from legacy systems to the new platform in a matter of hours overnight, without personnel on site.
Aloha Next is scheduled to begin initial pilots by year-end. The company’s restaurant “store-in-a-box” offering for small and mid-market customers is expected to enter customer labs by the end of the third quarter and pilots in the first quarter of next year. NCR Voyix had 16 active customer labs across seven countries as customers evaluate VCP applications. Retail and payments growth Darren Wilson, president of Retail and Payments, said the retail business signed more than 40 customers during the quarter, primarily in the mid-market. Platform sites grew 8%, payment sites increased 13%, and recurring revenue rose 6%, driven by a 15% increase in recurring software revenue.
The company cited several retail agreements, including a Voyix supply-chain deal with LC Foods in the U.S., a recurring-services agreement with a German reverse-vending provider, and a Voyix POS agreement with a home-improvement retailer operating in Colombia and Chile. NCR Voyix also secured an equipment refresh covering about 350 stores for an existing Australian grocery customer.
In payments, the company continued converting U.S. and Latin American customers to Voyix Connect at market pricing. Wilson said NCR Voyix expects to extend the strategy into Canada, Europe and Asia-Pacific as certifications are completed. The company also signed an agreement with Voyager to expand fleet-card acceptance through Voyix Connect, adding to direct integrations with Corpay and WEX.
Webb-Walsh said reported retail revenue declined 20% to $365 million due to the hardware transition. Excluding that impact, retail revenue rose 4%, supported by VCP application sales and payments pricing initiatives. Retail adjusted EBITDA increased 20% to $97 million, with adjusted EBITDA margin expanding to 26.6%.
Restaurant results and Aloha Next The restaurant business signed more than 100 new customers in the second quarter, according to Restaurants President Benny Tadele. Platform size increased 12%, while payment size declined 1%. Enterprise and mid-market recurring revenue rose 6%, with services revenue up 9% and software revenue up 3% excluding the prior-year Nemcor Brazil divestiture.
Tadele said the business continued to face softness in the small and medium-sized business market. He also described restaurant operators as focused on return on investment, operational efficiency, automation and cost management, which he said can extend buying cycles as customers more closely scrutinize spending.
During the quarter, NCR Voyix signed Pizza Ranch as the first new enterprise customer for Aloha Next. The agreement includes Aloha Next and Voyix Pay at more than 200 locations. The company also signed an agreement with one of the largest restaurant operators in Asia-Pacific to modernize its Aloha point-of-sale environment and centralize data management across multiple countries and brands.
Reported restaurant revenue declined 23% to $158 million. Excluding the hardware impact, restaurant revenue fell $10 million, or 6%, as lower-than-anticipated hardware installations, SMB weakness and the Brazil divestiture weighed on results. Webb-Walsh said customers delayed some hardware refreshes, likely into next year. Restaurant adjusted EBITDA declined 15% to $58 million.
Profitability, cash flow and outlook Adjusted EBITDA increased 5% to $98 million, while adjusted EBITDA margin expanded 460 basis points to 18.7%. Excluding the hardware impact, adjusted EBITDA margin expanded 80 basis points. Non-GAAP earnings were $0.17 per share, unchanged from a year earlier, while GAAP earnings were a loss of $0.03 per share, primarily due to restructuring and transformation expenses, stock-based compensation and amortization of intangibles.
Adjusted free cash flow was $56 million before restructuring. The company spent $41 million on capital expenditures and repurchased approximately $11 million of common shares. NCR Voyix ended the quarter with net leverage of 2 times based on net debt at June 30 and trailing 12-month adjusted EBITDA.
The company maintained its full-year 2026 outlook, projecting revenue of $2.188 billion to $2.303 billion, adjusted EBITDA of $432 million to $447 million, and adjusted earnings per share of $0.89 to $0.92.
About NCR Voyix (NYSE:VYX)NCR Voyix is a technology company formed through the spin-off of NCR Corporation’s financial and digital commerce business. The company designs, manufactures and supports self-service solutions for banking and retail environments, with core offerings that include ATMs, kiosks, point-of-sale terminals and payment software. By blending hardware, cloud-based applications and managed services, NCR Voyix aims to help financial institutions and merchants modernize customer experiences and streamline transaction processing.
Building on more than a century of heritage under the NCR name, NCR Voyix leverages decades of engineering expertise and innovation in transaction automation.
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Western Midstream Partners oznámila rekordní upravený EBITDA za 2. čtvrtletí ve výši 737 milionů USD a zvýšila výhled na rok 2026 po akvizici Brazos Delaware II. Zároveň ponechala čtvrtletní distribuci na 0,93 USD na podíl.
The 6 Best Energy Stocks to Buy NowWestern Midstream Partners NYSE: WES reported record second-quarter adjusted EBITDA as Delaware Basin natural gas and produced-water volumes rose, the recently acquired Brazos Delaware II assets began contributing, and higher commodity prices supported results under fixed-recovery processing contracts.
Chief Executive Officer Oscar Brown said adjusted EBITDA reached $737 million, up 8% sequentially and 19% from the prior-year period. The partnership also generated net income attributable to limited partners of $395 million and distributable cash flow of $537 million, according to Chief Financial Officer Kristen Shults.
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Guidance Raised Following Brazos Acquisition Western Midstream raised the midpoint of its 2026 adjusted EBITDA outlook by $250 million to $2.85 billion, within a new range of $2.75 billion to $2.95 billion. The company also increased its distributable cash flow guidance to $2.05 billion to $2.25 billion and free cash flow guidance to $1.1 billion to $1.3 billion, raising the midpoint of each range by $200 million.
The revised outlook reflects the mid-June closing of the $1.6 billion acquisition of Brazos Delaware II, stronger commodity pricing during the first half, a higher second-half commodity-price forecast, and increased customer activity expected in the Delaware and Powder River basins.
Western Midstream funded the Brazos transaction with about $800 million in cash and $800 million in common units. Brown said the acquisition is accretive to per-unit metrics and expands the partnership’s Delaware Basin gathering and processing position while diversifying its customer base and ownership.
The company expects Brazos to contribute approximately $100 million of adjusted EBITDA during the second half of 2026. It also expects to capture $15 million to $20 million of cost synergies in coming quarters, primarily from reductions in general and administrative costs and supply-chain-related operating efficiencies.
Brown said the company expects to complete the connection between the legacy Brazos and Western Midstream systems by year-end. The connection is expected to allow more volumes to be directed to Brazos processing plants with available capacity, reducing offloaded volumes and increasing internal processing.
Throughput Trends Across Core Basins Second-quarter natural gas throughput rose 3% sequentially, supported by roughly two and a half weeks of Brazos contributions and another quarter of record natural gas throughput in the DJ Basin, Chief Operating Officer Danny Holderman said. Crude oil and NGL throughput increased slightly, while produced-water throughput increased about 5% from the prior quarter.
For the full year, Western Midstream now expects portfolio-wide natural gas throughput to increase by mid-single digits year over year. It expects crude oil and NGL throughput to decline by low double digits, while produced-water throughput is projected to increase approximately 85%, compared with the company’s prior expectation of roughly 80% growth.
The produced-water outlook reflects contributions from the Aris acquisition as well as performance from the legacy water business. Brown said produced-water handling has been Western Midstream’s fastest-growing product line in recent quarters.
In the Delaware Basin, the partnership expects full-year natural gas throughput to rise by low- to mid-teens percentages, while crude oil and NGL volumes are expected to increase by low single digits. Holderman said some customers curtailed Delaware Basin throughput during the second quarter because of negative Waha natural gas pricing, but the company exited the quarter with no curtailments after long-haul pipelines returned from maintenance and the GCX expansion and Hugh Rinson pipeline entered service.
Western Midstream expects Waha pricing to be less volatile for the rest of the year, particularly once the Latcom pipeline enters service later in 2026.
In the Powder River Basin, Western Midstream signed new long-term gathering and processing agreements with two producers. The agreements add approximately 270,000 dedicated acres, more than 1,000 remaining drilling locations, and multiyear minimum volume commitments. The company expects activity from those customers to increase in the back half of 2026 and support volume growth into 2027.
Margins, Capital Spending and Balance Sheet Second-quarter adjusted gross margin for natural gas assets increased by $0.03 per Mcf sequentially, driven by commodity prices on excess NGL volumes under fixed-recovery contracts and the initial Brazos contribution. The company expects third-quarter natural gas margins to be slightly lower as commodity prices moderate, while maintaining its full-year adjusted gross margin expectation of approximately $1.30 per Mcf.
Crude oil and NGL adjusted gross margin rose $0.14 per barrel sequentially, largely because of higher Delaware Basin deficiency fees. Produced-water adjusted gross margin increased $0.06 per barrel on higher throughput. Western Midstream expects both measures to be slightly lower in the third quarter while maintaining full-year expectations of $3.10 to $3.15 per barrel for crude oil and NGL assets and approximately $0.91 per barrel for produced-water assets.
The partnership maintained its 2026 capital expenditure range of $850 million to $1 billion but now expects spending near the high end. More than half of the capital program remains allocated to the Pathfinder Produced Water Pipeline and the North Loving II natural gas processing train, which are expected to enter service in the first and second quarters of 2027, respectively.
Shults said the company ended the quarter with more than $1.8 billion of total liquidity and pro forma trailing 12-month net leverage of approximately 3.15 times. In June, Western Midstream issued $700 million of 10-year senior notes to refinance commercial paper and revolver borrowings used for the Brazos acquisition.
Water Reuse and Distribution Western Midstream placed its JIP2 produced-water treatment demonstration facility into service during the second quarter near Red Bluff Reservoir in Reeves County, Texas. The facility is producing approximately 1,000 barrels per day of reclaimed fresh water, about 10 times the output of its JIP1 predecessor.
Brown said JIP2 is intended to help refine operating costs, assess reliability, and demonstrate reclaimed-water recovery for potential uses including industrial cooling, surface discharge and non-consumptive agricultural irrigation. The company views the project as a step toward sanctioning its first commercial-scale beneficial-reuse facility.
Western Midstream declared an unchanged quarterly distribution of $0.93 per unit, payable Aug. 14 to unitholders of record on July 31. The partnership maintained its target of paying at least $3.70 per unit during 2026.
About Western Midstream Partners (NYSE:WES)Western Midstream Partners, LP NYSE: WES is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.
The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.
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Coinbase has pulled trading support for five cryptocurrencies after giving holders a month to prepare.
Summary
Coinbase disabled trading for IDEX, LRC, OMNI, PIRATE and FIS across major trading platforms Friday. Customers can still access and withdraw affected tokens, while Coinbase has not announced conversions yet. Coinbase first announced the five suspensions July 7, giving holders one month of advance notice. Six non-dollar pairs were separately suspended August 6, but their underlying tokens remain supported elsewhere. Coinbase says routine reviews determine whether listed assets continue meeting its standards across trading services. On Aug. 7, the exchange confirmed that trading had been disabled for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE) and StaFi (FIS). The suspension covers Coinbase Simple and Advanced Trade, Coinbase Exchange and Coinbase Prime.
We have disabled trading for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and StaFi (FIS). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/TkieDfQRqi
— Coinbase Markets 🛡️ (@CoinbaseMarkets) August 7, 2026 For customers still holding the five tokens, the change stops trading rather than immediately removing access to the assets. Coinbase said balances remain accessible and withdrawals can continue, allowing holders to transfer tokens to compatible external wallets or other platforms that support them. The exchange’s latest notice did not announce an automatic conversion or liquidation of remaining balances.
Coinbase gave holders one month before halting trading The Aug. 7 suspension was not announced without warning. Coinbase first disclosed the planned removals on July 7 and said trading would stop on or around 2 p.m. ET on Aug. 7. Before the cutoff, order books for IDEX, LRC, OMNI, PIRATE and FIS were moved into limit only mode, allowing customers to place and cancel limit orders while matches could still occur.
Coinbase said it regularly monitors assets to determine whether they continue to meet its listing standards. However, the notices reviewed by crypto.news did not identify a separate reason for removing each of the five tokens. That means claims attributing a particular token’s suspension to liquidity, regulation, development activity or another individual factor would go beyond Coinbase’s public explanation.
The change has now taken effect. Coinbase’s current asset pages label IDEX, Loopring, Omni Network, Pirate Nation and StaFi as not tradable on the platform.
Token suspensions differ from Coinbase’s six pair removals The five token suspensions came one day after Coinbase removed six individual trading pairs. The exchange ended trading on Aug. 6 for LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT.
Those changes should not be confused with the five token suspensions. Removing a trading pair means Coinbase can continue supporting the underlying asset through another available market, depending on the customer’s region. By contrast, IDEX, LRC, OMNI, PIRATE and FIS have lost trading support across Coinbase’s main retail, advanced and institutional spot services.
As crypto.news reported, Coinbase said the six pair removals followed its regular market reviews and were intended to consolidate liquidity and support healthier markets. Five of those markets had first been shifted to limit only trading before being suspended.
Coinbase has used similar review processes before. The exchange ended DAI trading in May as part of a separate asset change that included conversion of remaining eligible balances into USDS. The current IDEX, LRC, OMNI, PIRATE and FIS notice is different because Coinbase has not announced a comparable conversion plan.
Some affected tokens were already undergoing wider changes The five assets are not all in the same position outside Coinbase. Omni Network, for example, underwent a broader transition after the project rebranded to Nomina. Nomina said Omni Core was officially sunset in February 2026 and its assets migrated to Ethereum as the ecosystem shifted toward the NOM token and an Ethereum based trading protocol. Coinbase did not cite that transition as the reason for suspending OMNI.
StaFi had also lost a major trading venue before Coinbase’s decision. Binance ended spot trading for FIS in December 2025 as part of its own periodic review. Again, there is no public evidence showing Coinbase based its decision on Binance’s earlier removal, and the two exchanges conduct their listing reviews independently.
The current Coinbase data also shows why the five tokens should not be treated as removed from existence simply because trading has stopped on one exchange. Coinbase continues to display informational price pages for the assets even though those pages now identify them as unavailable for trading. Users can also withdraw balances under the exchange’s Aug. 7 notice.
What happens next for affected Coinbase users The immediate decision for holders is whether to leave their assets on Coinbase or withdraw them to another supported destination. Coinbase has not set a new trading date or announced that any of the five markets will return. Its latest statement says users continue to have access to their funds and can withdraw them.
Users moving tokens externally need to confirm that the destination supports the correct network and token contract before initiating a transfer. Coinbase’s own support materials note that onchain sends are irreversible, making network and address compatibility important when withdrawing delisted assets.
Meanwhile, the trading changes are taking place as Coinbase reorganizes other parts of its business. As previously reported, institutional Coinbase International Exchange accounts, positions and balances are scheduled to migrate to Deribit on Sept. 9. Coinbase’s official migration guidance sets Aug. 28 as the opt out deadline and Aug. 31 for clients to verify Deribit access.
That institutional derivatives migration is separate from the five token suspensions, but together the moves show Coinbase making several market and infrastructure changes during August. For IDEX, LRC, OMNI, PIRATE and FIS holders, however, the position is straightforward for now: trading has stopped, balances remain accessible and withdrawals remain available, with no public timetable for trading support to resume.
Vishay Intertechnology vykázala ve 2. čtvrtletí upravené tržby 919 mil. USD, nad horní hranicí výhledu, a backlog vzrostl o 18 % na 1,9 mld. USD. Firma zároveň čeká ve 3. čtvrtletí tržby 945 až 975 mil. USD.
Active Rebound: 2 Discrete Semiconductor Stocks Making MovesVishay Intertechnology NYSE: VSH reported second-quarter 2026 adjusted revenue of $919 million, above the high end of its guidance range, as demand increased across its semiconductor and passive-component businesses, end markets, sales channels and regions.
GAAP revenue was $889 million, reflecting $30 million in tariff refunds that the company said will be passed through to customers during the second half of 2026. Vishay said the refunds reduced both reported net revenue and cost of products sold, with no impact on gross profit. Management used adjusted revenue, excluding the tariff refunds, in discussing quarterly performance.
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Alpha and Omega Semiconductor ready to bounce, DOJ cloud liftsAdjusted revenue rose 9.5% from the first quarter and 20.5% from the year-earlier period. Chief Financial Officer David McConnell said the year-over-year increase was driven primarily by an 18% rise in volume, a 2% increase in average selling prices and a 1% foreign-currency benefit, mainly from the euro.
Bookings, backlog and demand trends President and Chief Executive Officer Joel Smejkal said the company’s second-quarter book-to-bill ratio was 1.32, including 1.23 for semiconductors and 1.40 for passive components. Vishay recorded record bookings for resistors and inductors, and total backlog rose 18% to $1.9 billion, representing 6.1 months of backlog.
Smejkal said customers have been extending their ordering visibility as industry lead times lengthen and concerns over product availability persist. Many customers are forecasting six months ahead, while demand tied to artificial-intelligence applications has led some customers to place orders more than 52 weeks in advance, he said.
Management said it has announced price increases on about one-third of its running part numbers since the fourth quarter of 2025, citing higher costs for metals, materials and logistics. Some of those increases were reflected in second-quarter results. Smejkal told analysts that Vishay has been updating backlog pricing quickly, limiting customers’ ability to pull forward shipments ahead of the price changes.
Asked about the potential for double ordering, Smejkal said the company currently views order activity as “fairly rational.” He pointed to increasing point-of-sale activity at distributors and declining distributor inventory levels as indications that demand is being supported by consumption. Distribution inventory declined to 18 weeks at quarter-end from 20 weeks in the first quarter, while distributor point-of-sale rose 4.7% sequentially and 20.5% year over year.
Growth across end markets and channels All reported end markets posted sequential and year-over-year revenue gains. Industrial revenue increased 16.2% from the first quarter and 30.1% from a year earlier, driven by demand for smart-grid, AI power, high-voltage DC and factory-automation projects. Smejkal said industrial represented more than half of Vishay’s sequential revenue increase.
Automotive revenue rose 3.6% sequentially and 10.1% year over year, reflecting demand associated with driver-assistance systems, autonomous-driving applications and hybrid and electric-vehicle platforms. Aerospace and defense revenue increased 4.2% from the prior quarter and 15.4% from the prior year, supported by U.S. defense programs and demand from customers in Asia and Europe.
Healthcare revenue grew 7% sequentially and 14.7% year over year. Revenue in the company’s “other” category, which includes telecom, computing and consumer markets, rose 11.3% sequentially and 28.4% from a year earlier, aided by AI-related programs, optical communication network switches and European 5G radio projects.
Distribution accounted for 58% of revenue in the second quarter, up from 55% in the first quarter. Distribution revenue rose 15.6% sequentially and 24.2% year over year. OEM revenue increased 1.7% sequentially and 16.8% year over year, while EMS revenue rose 3.2% sequentially and 10.8% year over year.
Margins, cash flow and capital investment Vishay generated gross profit of $177 million. GAAP gross margin was 23.3%, while adjusted gross margin was 22.6%, exceeding the company’s guidance and improving from the prior quarter. McConnell attributed the expansion to higher volumes and improved pricing, partially offset by continued metals, materials and logistics cost pressures.
Adjusted operating margin rose to 5.8%, compared with 2.6% in the first quarter and 1.4% in the second quarter of 2025. Adjusted EBITDA margin increased to 11.4% from 9.3% in the first quarter. GAAP and adjusted earnings per share were both $0.19, compared with $0.05 in the first quarter and an adjusted loss of $0.07 per share a year earlier.
The company generated $105 million in operating cash flow and $10 million in free cash flow during the quarter. Capital expenditures totaled $95 million, including approximately $66 million for Vishay’s new 12-inch wafer fabrication facility in Germany.
During the quarter, Vishay completed a public offering of 17.25 million common shares, raising $830 million in cash after issuance costs. The company ended the quarter with $1.3 billion in cash and short-term investments and $238 million outstanding on its revolver. McConnell said Vishay used a portion of the offering proceeds to repay the revolver balance in July.
Third-quarter outlook and capacity plans For the third quarter, Vishay expects revenue of $945 million to $975 million. At the midpoint, the outlook implies 4.5% sequential growth and 21.4% year-over-year growth, including the effect of European seasonality. The company expects gross margin of 24.0%, plus or minus 50 basis points, reaching its prior target of exiting 2026 at a 24% quarterly gross margin one quarter earlier than planned.
Third-quarter SG&A expense is expected to be $155 million, plus or minus $3 million. Depreciation expense is expected to be about $54 million for the quarter and $215 million for the full year. Interest expense is expected to be approximately $7 million. The expected GAAP effective tax rate is 35% to 40%. Smejkal said Vishay plans capital expenditures of $400 million to $440 million in 2026, with roughly half allocated to the German 12-inch fab. Equipment assembly at the facility has been completed, and installation is expected to finish in the third quarter. The company plans to begin running engineering wafers near year-end and remains on track to start non-automotive production in mid-2027.
Vishay is also ramping production through foundries in Korea and China to add wafer capacity for AI-related applications in the second half of 2026. The company is expanding polymer capacitor capacity and pursuing additional back-end semiconductor capacity, while continuing development work in silicon carbide and gallium nitride technologies.
About Vishay Intertechnology (NYSE:VSH)Vishay Intertechnology, Inc is a global manufacturer of discrete semiconductors and passive electronic components, serving a wide range of industries including industrial, automotive, computing, consumer electronics, telecommunications, medical, and military/aerospace markets. The company's portfolio encompasses resistors, capacitors, inductors, sensors, diodes, rectifiers, MOSFETs and a variety of integrated circuit solutions. Vishay's components are used in power management, signal conditioning, circuit protection and sensing applications, supporting both standard and custom designs for original equipment manufacturers worldwide.
Originally founded in 1962 by Dr.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
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Vitesse Energy ve 2. čtvrtletí zvýšila produkci na 17 354 BOE denně, tedy o 9 % mezikvartálně, díky akvizici v Powder River Basin. Společnost zároveň potvrdila strategii dividendy financované volným cash flow.
Vitesse Energy NYSE: VTS said its second-quarter results reflected higher production following its early-April Powder River Basin acquisition, while management reiterated that its strategy remains centered on a free-cash-flow-funded dividend, return-focused investments and conservative leverage.
Chief Executive Officer and President Jamie Benard addressed investor questions surrounding the company’s dividend resizing and leadership transition earlier this year, saying the company’s underlying strategy has not changed.
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“Our priorities are what they’ve always been, pay a durable dividend funded by free cash flow, allocate capital only where returns exceed our hurdle rates, and maintain a strong conservative balance sheet,” Benard said.
Vitesse’s board last week declared a third-quarter cash dividend at an annualized rate of $1.75 per share. Benard said the declaration marked the company’s 15th consecutive quarterly dividend since its January 2023 spin-off. Cumulative dividends declared have totaled $7.6375 per share, he said.
Second-Quarter Production and Financial Results Chief Financial Officer Jimmy Henderson said second-quarter production averaged 17,354 barrels of oil equivalent per day, up 9% sequentially from the first quarter. Oil represented 60% of production and contributed 95% of total revenue during the quarter.
The results included contributions from the Powder River Basin acquisition completed in early April, Henderson said.
Adjusted EBITDA totaled $40.2 million. Adjusted net income was $1.8 million. GAAP net income was $33.1 million, including $40.2 million in unrealized hedging gains. Free cash flow was $16.3 million after $21.1 million of development capital expenditures. Henderson said the unrealized hedging gain was a non-cash item tied to forward oil prices as of June 30. He added that Vitesse’s cumulative realized hedge loss since its spin-off has been less than 1% of revenue over that period.
Management described hedging as a means of protecting the company’s cash flows and dividend through commodity-price downturns. The company’s hedge book now extends into 2029.
Guidance Narrowed and Capital Spending Range Updated Vitesse narrowed its 2026 production outlook to a range of 16,300 to 17,200 BOE per day. The company also tightened its oil mix outlook to 60% to 62% of production.
The company raised the bottom end of its total cash capital expenditure guidance, which now calls for $65 million to $80 million in spending for the full year.
For the remainder of 2026, Vitesse has approximately 70% of anticipated oil production hedged through swaps and collars, with a weighted average floor price of $63.57 per barrel and a ceiling of $66.53 per barrel. About half of expected natural gas output is hedged through collars with a weighted average floor of $3.73 per MMBtu and a ceiling of $4.90 per MMBtu, according to Henderson.
The company ended the quarter with $158.5 million of total debt and net debt to adjusted EBITDA of just under one times on a last-quarter annualized basis. That is in line with its leverage target of less than one times, Henderson said. Total liquidity before internal cash flows was approximately $117 million.
Development Pipeline and Longer Laterals Benard said Vitesse had 19.4 net wells in its development pipeline as of June 30, including 6.4 net wells being drilled or completed and 13 net permitted locations.
The company evaluates each well proposal as a standalone investment through its Luminis data platform, underwriting opportunities using strip prices. Since 2023, 93% of wells proposed on Vitesse acreage have met the company’s return requirements, according to Benard.
Management also highlighted the increasing use of three- and four-mile laterals in the Williston Basin. Year to date, wells with laterals of three miles or more represented 69% of Vitesse’s authorizations for expenditure, producing an average lateral length of nearly 15,000 feet, up 38% from 2022.
Benard said these longer laterals cost approximately 25% less per foot than traditional two-mile laterals while offering higher estimated ultimate recoveries and slower declines. Those factors can lower maintenance capital needs and leave more cash flow available for dividends, he said.
Acquisition Activity Remains Selective During the question-and-answer session, Director of Investor Relations and Business Development Ben Messier said the market for near-term development acquisitions has become more competitive over the past one to two years. Vitesse has maintained its return thresholds rather than lowering them to pursue more deals, he said.
Messier said the market for larger producing-property acquisitions in Vitesse’s core operating areas has remained robust. The company focuses on assets in the Williston, Powder River and DJ basins, where it has accumulated data through its Luminis platform.
He said larger producing-property packages can provide cash flow immediately and have generally been available at free-cash-flow yields in the teens to low 20% range for the next several years.
Vitesse has completed 175 acquisitions since 2013, representing about $800 million in aggregate acquisition spending, according to Benard. The company owns fractional interests in 7,868 productive wells operated by more than 30 operators across the Williston, Powder River and DJ basins.
Regarding the recently acquired Powder River assets, Henderson said the package is primarily operated by EOG and Continental. Management said the acquisition was performing as expected in its first several months, with the company beginning to receive and evaluate drilling proposals associated with the assets.
About Vitesse Energy (NYSE:VTS)Vitesse Energy NYSE: VTS is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.
The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.
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Walker & Dunlop ve 2. čtvrtletí zvýšil objem transakcí o 3 % na 14,4 mld. USD, ale zisk zatížily náklady spojené s dříve zveřejněnými problematickými úvěry.
3 Real Estate Stocks to Buy on Commission CutsWalker & Dunlop NYSE: WD reported second-quarter transaction volume growth and continued expansion of its servicing portfolio, while earnings were weighed down by charges tied to previously disclosed problem loans associated with a borrower fraud investigation.
Chairman and CEO Willy Walker said the company’s core operating business “performed very well” despite an uncertain commercial real estate environment marked by geopolitical tensions and interest-rate volatility. Total transaction volume increased 3% from a year earlier to $14.4 billion, including an 8% increase in debt financing volume to $12.5 billion.
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Capital Markets Activity and Market Share 3 Mortgage Companies To Watch On Rising Home SalesHUD originations rose 43% during the quarter, while brokered lending increased 17%. Walker said the growing contribution from brokered lending reflects the company’s effort to broaden capital relationships in the United States and Europe. He said brokered volumes could continue to rise as non-multifamily loans mature and lenders maintain a broad supply of capital for commercial real estate.
Walker & Dunlop’s year-to-date combined market share with Fannie Mae and Freddie Mac increased 350 basis points to nearly 15%, according to management. Walker noted that the government-sponsored enterprises had deployed $62.5 billion during the first half of 2026, leaving $114 billion of lending capacity for the remainder of the year.
“If the agencies crank up their volume in the second half of the year, that will be very beneficial to us given our positioning with both of them,” Walker said in response to an analyst question. He added that debt funds, CMBS lenders and banks also remain active sources of commercial real estate financing.
The company said its property-sales pipeline improved meaningfully from the prior quarter. If clients choose to transact during 2026, Walker said the company could finish the year with property-sales volume above 2025 levels despite a slower start to the year.
Servicing Portfolio Reaches Record Walker & Dunlop’s servicing portfolio reached a record $146 billion at the end of the second quarter, up 6% year over year. The portfolio provides recurring revenue and future refinancing and sales opportunities, management said. Fifty-two percent of loans in the portfolio mature over the next five years.
Chief Financial Officer Greg Florkowski said servicing and asset management revenue declined 5% from the prior year, primarily because of lower earnings from joint-venture investments in the company’s affordable housing business. He attributed the decline to transaction timing rather than an underlying trend in the servicing business.
Florkowski said the servicing platform’s recurring revenue and cash flow remain stable and that capital markets execution in future quarters should support continued portfolio growth.
The company also highlighted WDSuite, its digital client platform, which enables borrowers to access loan documents, make payments, run payoff calculations, view property valuation data and connect with the company’s financing, appraisal, research and property-sales teams.
Legacy Loan Charges Weigh on Reported Earnings Reported diluted earnings per share were $0.09, reflecting $23 million of charges and operating costs related to the company’s repurchase loan portfolio. Adjusted core EPS increased 3% to $1.19, Florkowski said.
The charges were linked to a previously disclosed investigation involving a small group of fraudulent sponsors and a specific Walker & Dunlop banking team that is no longer with the company. Management said 95% of losses recognized to date relate to those sponsors and loans originated by that team.
Freddie Mac’s loan-level review has been completed, and the company does not expect further repurchase requests from that process. Fannie Mae’s review is nearly complete. Walker & Dunlop expects to recognize an additional $12 million to $16 million of credit-related charges in the third quarter as part of the final resolution with Fannie Mae, without needing to repurchase additional loans.
During the second quarter, a group of previously repurchased loans defaulted, leading the company to reassess property values and increase loss estimates. The company also increased loss sharing on a subset of loans reviewed by Fannie Mae instead of repurchasing them.
Since the end of the quarter, Walker & Dunlop sold $40 million of properties at prices close to its estimates and is preparing another $41 million of assets for sale later this year. Management expects sales of all repurchased assets to be completed by early next year, subject to ultimate selling prices.
Credit Performance and Outlook Management said the broader at-risk portfolio continues to perform well. At quarter-end, 28 basis points of the $71 billion at-risk portfolio was in default. The portfolio had a weighted average debt-service coverage ratio of 2.0 times and a weighted average underwritten loan-to-value ratio of 61%.
Walker said multifamily supply-and-demand conditions are improving, citing slower apartment development, first-half absorption of approximately 279,000 units and four consecutive months of rising occupancy. However, he said rent growth has emerged only in certain parts of the country and cautioned that rent-control policies could affect specific markets.
For 2026, Florkowski said the company remains confident in its core earnings outlook excluding repurchase-related costs. If current borrowing costs and market conditions persist, management expects the core business to finish toward the lower end of its original guidance range. Improved market conditions could increase transaction activity and place results in the middle to upper portion of that range.
The board approved a quarterly dividend of $0.68 per share, unchanged from the prior quarter, payable to shareholders of record as of Aug. 20.
About Walker & Dunlop (NYSE:WD)Walker & Dunlop is one of the largest providers of commercial real estate finance in the United States, specializing in the origination, servicing and sale of loans secured by multifamily, seniors housing, healthcare, student housing and manufactured housing properties. The firm offers a full suite of debt and equity solutions, including agency financing through Fannie Mae and Freddie Mac, HUD and FHA-insured loans, bridge and construction financing, mezzanine debt, preferred equity, and investment sales advisory.
With roots dating back to 1937 and its headquarters in Bethesda, Maryland, Walker & Dunlop has expanded its platform through both organic growth and strategic acquisitions.
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Coca-Cola zvýšila čtvrtletní dividendu na 53 centů na akcii, což zvedlo roční výplatu na 2,12 USD. Akcie jsou letos asi o 25 % výše, ale od konce července ustoupily téměř o 3 %.
Here is the setup the headlines missed. Coca-Cola (NYSE:KO | KO Price Prediction) reported Q1 2026 numbers that triggered a fast bearish reaction on social platforms, followed by an equally fast reversal from a very specific group of buyers: income investors. The stock is now up around 25% year to date, but since the end of July, shares have pulled back nearly 3%.
Currently trading around $86.72, and the Dividend King’s payout just got bigger, too. Retirees who bought the dip understood something the algorithms missed.
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The Dividend Payment: What Just Hit Accounts Coca-Cola declared a quarterly dividend of 53 cents per share, with a payment date of July 1 for shareholders of record on June 15. That brings the annualized payout to $2.12 per share, up from $2.04 in 2025 and $1.94 in 2024. At the current share price, the forward yield runs roughly 3%.
The streak is the real headline. Coca-Cola management noted in Q4 2025 that the company paid $8.8 billion in dividends during 2025 and just delivered its 63rd consecutive year of dividend increases. There is no other consumer staple in the S&P 500 with that combination of longevity, scale, and global cash generation.
The “Volume Decline” Narrative vs. The Filing The bearish read on the quarter centered on softness in specific categories: juice, value-added dairy and plant-based beverages declined 1% globally. That number got amplified across financial media. The wallstreetbets thread on June 7 swung sharply bearish, with sentiment dropping to 35 on 318 upvotes and 81 comments.
Then the actual filing did the talking. Global unit case volume rose 3%, led by China, the U.S. and India. Coca-Cola Zero Sugar volume jumped 13% across every geographic operating segment. North America unit case volume grew 4%, and the company has now gained overall value share for 20 consecutive quarters. Reported revenue came in at $12.47 billion, up 12% year over year, beating consensus. EPS landed at 86 cents versus the 81-cent estimate, the fourth straight quarter topping expectations.
Operating margin expanded to 35% from 33%. Free cash flow more than doubled to $1.755 billion. None of that fits a volume-decline story.
What Retirees Saw That Day Traders Did Not Reddit data tells the divergence cleanly. While r/wallstreetbets oscillated between bearish and bullish in 24 hours, the r/dividendinvesting subreddit held a steady 70 to 72 sentiment score from May 25 through June 8, with an activity spike on June 8 (35 activity score, 71 comments). That is the footprint of income investors stepping in.
Three things they likely focused on:
The payout math still works. FY2025 EPS came in at $3.00, and management guided comparable EPS growth of 8% to 9% for 2026. The $2.12 annualized dividend is comfortably covered by both reported and forward earnings. Cash flow is accelerating. Full-year 2026 free cash flow is projected at approximately $12.2 billion, against roughly $8.8 billion in dividends paid last year. That cushion funds another increase and the $477 million in Q1 2026 buybacks. The growth profile improved. New CEO Henrique Braun told the call, “We are off to a good start this year. We delivered strong first quarter results despite a complex external environment.” Organic revenue growth of 10% backed him up. Grading the Dividend Metric Value Grade Input Forward yield 3% Average Consecutive years of increases 63 Elite 2025-to-2026 dividend growth $2.04 to $2.12 Solid FY2026 free cash flow guide ~$12.2 billion Strong coverage Beta 0.35 Defensive Forward P/E 25 Premium The yield alone earns a C. The 63-year growth streak, the defensive beta of 0.35, the 35% operating margin and the accelerating free cash flow lift the composite. Call it a B+ dividend: among the highest-quality income compounders available in U.S. large caps, with a modest yield offset by elite consistency. The premium multiple (trailing P/E of 25) is the trade-off for that quality.
What to Watch Next The pending sale of Coca-Cola Beverages Africa is the swing factor for the back half. Management has baked an approximate 4% headwind from acquisitions and divestitures into guidance, which keeps expectations grounded. Analyst consensus sits at a $85.97 target, with 19 Buy or Strong Buy ratings against four Hold ratings and one Strong sell rating.
Income investors who acted on the volume-decline headline got rewarded twice: a bigger dividend and a stock price that did not stay cheap for long. That is what they knew.
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Microsoft po rekordním jednodenním růstu tržní hodnoty o zhruba 450 miliard USD stále obchoduje asi 12 % pod svým 52týdenním maximem 553,72 USD. Trh sleduje hlavně, zda firma udrží růst Azure, který má v příštím čtvrtletí v konstantní měně činit asi 45 %.
On July 30, Microsoft (MSFT +0.03%) grew its market value by about $450 billion between one close and the next. Shares finished that session 15.5% higher, at $451.10, after a fiscal fourth-quarter report that paired 18% revenue growth with guidance for Azure (the company's cloud computing platform) to grow about 45% in constant currency in the fiscal first quarter.
Notably, this big move happened inside a drawdown. Microsoft entered that report down more than 18% for the year. Even now, after adding about another 8% since the record close to around $487 as of this writing, the stock still trades about 12% under its 52-week high of $553.72.
There aren't many days like this to learn from. Six others since February 2022 come close enough to be worth studying. So what did those days actually lead to?
Image source: Getty Images.
The six days worth comparing Amazon added $190 billion on Feb. 4, 2022. Apple followed nine months later with a $191 billion gain on Nov. 10, 2022, on a day a cooler inflation reading lifted the whole market. Meta Platforms added $197 billion on Feb. 2, 2024, after announcing its first dividend. Nvidia did it three times -- $277 billion in February 2024, about $330 billion that July, and $441 billion on April 9, 2025. Microsoft's day is bigger than any of them.
That's the sample. Six days, four companies, all since February 2022. Sure, a sample this small proves nothing on its own. But I'd rather have six imperfect precedents than none.
What happened next, case by case Six months after its record day, Amazon's stock was about 10% lower -- and by the end of 2022, it had lost more than 40% as rising interest rates weighed on growth stocks broadly. Shares needed almost two years to see their record-day close again.
Apple's record day aged well. The stock was up about 18% six months later, and about 27% after a year.
Meta's aftermath looked better than Amazon's, but not right away. The stock fell back below its record-day close within three months during the spring of 2024, sat about flat six months out, and only then resumed climbing. It was up more than 40% a year later.
Nvidia's three episodes split, too. After the February 2024 record, shares rose nearly 60% over the next six months. After the July 2024 record, they dropped about 14% in three trading days during that August's growth scare and were about flat six months later. After the April 2025 record, they rose more than 60% in six months.
So the score is three winners, two that went nowhere for six months, and one outright loser. The size of the day itself told investors almost nothing about the next two quarters.
What did matter, in most of them, was whether the growth that caused the pop kept showing up.
Nvidia's two big post-record runs came while its data center revenue kept climbing. Meta resumed climbing as its advertising growth held up. And Amazon, whose record day celebrated a strong quarter at the tail end of the pandemic boom, spent 2022 watching its growth slow while rates rose. In other words, the pop mattered less than the follow-through.
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That puts the burden for Microsoft on the next few quarters of delivery. The fiscal year that just closed (ended June 30) gave shareholders plenty.
Revenue climbed 18% year over year to $331.8 billion, earnings per share climbed 32% to $17.95, and net income rose 31%. Microsoft Cloud revenue reached $59.3 billion in the fiscal fourth quarter alone, up 27% year over year. Azure's annual revenue also topped $100 billion for the first time.
The 45% constant-currency Azure guide is the number that set off the record day, and it's the first thing I'd check each quarter from here.
So, would I buy Microsoft here, 12% below its high? I'd consider it. The dividend even adds a little while you wait (about a 0.75% yield). At about 25 times forward earnings, shares aren't priced for anything extreme given the growth the company just posted. History suggests the record day could end up a footnote either way.
SummaryNvidia Corporation's stock is up roughly 20% over the last 12 months, while revenue grew 85% and non-GAAP EPS grew 140%, a disconnect that leaves the shares mispriced.Q1 FY27 delivered $81.6B in revenue, up 85%, with a record $48.6B in free cash flow and gross margin holding at 75%.The new reporting split shows $37B coming from AI clouds, industrial and enterprise customers, proving Nvidia no longer depends solely on Big Tech budgets.Big Tech CapEx is guided to $725B in 2026, up 77% year over year, and Nvidia should capture 35% to 40% of that spending.At 31.6x blended P/E and 22x forward earnings against 88% expected FY27 EPS growth, I remain bullish, though circular financing deals are a risk worth watching. Robert Way/iStock Editorial via Getty Images
The last time I covered NVIDIA Corporation (NVDA) was shortly after the firm reported its Q4 FY26 earnings, when the stock traded at 33x Blended P/E. I argued back then that the stock
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Palantir oznámil čtvrtletní tržby o 92,83 % vyšší a zvýšil celoroční výhled tržeb na 8,15 až 8,158 miliardy USD. Salesforce zároveň vykázal růst tržeb o 13,27 % a Agentforce ARR 1,2 miliardy USD.
Palantir (NASDAQ: PLTR | PLTR Price Prediction) and Salesforce (NYSE: CRM) both delivered fresh earnings with a striking contrast.
Palantir posted a 92.83% revenue surge on August 3, 2026, while Salesforce reported a steadier 13.27% lift on May 27, 2026. Both want to own the agentic AI conversation from very different starting lines.
Sovereign AI Lifts Palantir. Agentforce Anchors Salesforce. Palantir’s quarter was, in CEO Alex Karp’s words, “otherworldly.” U.S. commercial revenue reached $764 million, up 149% year over year, as Foundry and AIP customers scaled from pilots into production.
U.S. government revenue hit $809 million, up 90%, powered by Gotham deployments. The company closed 73 deals of at least $10 million, striking commercial cadence for a firm long viewed as a Beltway shop.
Salesforce played differently. Marc Benioff called it “an outstanding quarter“, anchored by Agentforce embedded across every Customer 360 app.
Agentforce ARR reached $1.2 billion, up 205%, with customers processing 3.8 billion Agentic Work Units. Slack’s Model Context Protocol crossed 1 million active users within six weeks. Modest topline growth masks a real product pivot.
Business Driver Palantir Salesforce Main Growth Engine U.S. commercial AIP deployments Agentforce across installed base Signature Metric Rule of 40 at 155% CRPO of $33.6 billion Management Tone Evangelical about sovereignty Confident, capital-return focused Hypergrowth Bet vs. Cash Return Machine Palantir is reinvesting every dollar into a land grab. FY26 revenue guidance was raised to $8.15 to $8.158 billion, implying 82% growth, with adjusted free cash flow guided to $4.5 to $4.7 billion. The stock trades at a 139 P/E, leaving zero margin for error.
Lens Palantir Salesforce Core Bet Operational AI for sovereigns Agentic layer on Customer 360 Capital Priority Reinvest for hypergrowth Buybacks and dividend Key Vulnerability Valuation, contract cancellations Informatica integration, debt load Salesforce chose a different lever. The company executed a $25 billion accelerated share repurchase, funded by debt that ballooned noncurrent liabilities to $39.3 billion. Diluted share count fell to 871 million from 970 million. FY27 revenue is guided to $45.9 to $46.2 billion. A P/E near 22 reflects mature enterprise franchise treatment.
The Next Test Is Whether Growth Compounds For Palantir, I will watch whether U.S. commercial sustains triple-digit growth as the pipeline works through its $6.238 billion in remaining deal value. Insider activity has been net selling. Shares are up 24.09% since the earnings report, though PLTR is still off 13.16% over one year.
For Salesforce, the tell is whether Agentforce bookings convert into reported revenue acceleration in the back half of FY27. Europe growing 18% is a genuine bright spot. The stock is down 29.13% year to date.
Why I Lean Toward Salesforce Palantir has clearly earned its AI sovereignty story. The 62% adjusted operating margin at this growth rate is rare, but I struggle to reconcile that with a triple-digit P/E and heavy stock-based compensation.
Salesforce fits better. You get an installed base measured in tens of thousands of enterprises, a genuine agentic product with $3.4 billion in combined AI and data ARR, real free cash flow, and a valuation that does not demand perfection.
I would revisit Palantir if it pulls back meaningfully or if commercial growth holds above 100% into 2027. On a risk-adjusted basis, CRM screens more favorably today.
Contact [email protected] for any questions or corrections.
Wayfair ve 2. čtvrtletí zvýšil tržby o 7,5 % meziročně a v USA o 8,7 %, zatímco mezinárodní tržby klesly o 1,3 %. Společnost pro 3. čtvrtletí očekává vysoký jednociferný růst tržeb.
These Outperforming Giants Are Boosting Dividends in 2026, With Yields of Up to 6.6%Wayfair NYSE: W reported 7.5% year-over-year revenue growth in the second quarter of 2026, led by an 8.7% increase in its U.S. segment, as the online home-goods retailer said it continued to capture market share despite uneven consumer demand and subdued housing turnover.
Chief Executive Officer Niraj Shah said orders rose 6% from a year earlier and more than 12% sequentially from the first quarter, representing the company’s strongest second-quarter sequential order growth since 2020. Active customers increased by more than 3%, while average order value rose 1.2% year over year.
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3 Low-Volatility Plays Quietly Making a Name For ThemselvesShah said the U.S. home category showed flat to slightly positive year-over-year growth during the quarter, the first such reading by Wayfair since 2021. Growth was stronger among higher-income consumers, reflecting what management described as a K-shaped economic recovery.
U.S. Growth Offsets International Pressure Wayfair’s U.S. revenue growth accelerated to nearly 9%, which Shah described as the company’s best domestic revenue growth rate of the post-pandemic period. In contrast, international revenue declined 1.3%, as Canada and the United Kingdom continued to face weaker consumer sentiment and discretionary spending pressure.
ABB’s Rotork Deal Could Put These Flow Control Stocks Back in FocusChief Financial Officer Kate Gulliver said Wayfair’s new-order growth accelerated for a fourth consecutive quarter and reached a post-COVID high. Management attributed its U.S. momentum to improvements in pricing, selection, delivery speed and product availability, alongside newer initiatives including Wayfair Rewards, Wayfair Verified, Delivery Plus and physical stores.
For the third quarter, the company projected high-single-digit revenue growth. Gulliver said the outlook does not assume an improvement in broader macroeconomic conditions, but instead reflects the company’s expectation of continued market-share gains from its operating initiatives.
Management said the mass-market Wayfair business remains the company’s primary revenue driver, even as its higher-end businesses grow more rapidly. Shah said promotions remain an important feature of the mass-market home category, which has been promotional for several years, though Wayfair is continuing to refine its promotional calendar and supplier tools.
Perigold Expands Luxury Presence Wayfair highlighted momentum at Perigold, its luxury home furnishings platform, which grew more than 35% year over year during the second quarter. The company’s specialty retail brands collectively grew nearly 20%.
Shah said Perigold now generates slightly more than $400 million in annual sales and has posted double-digit growth every year since its 2017 launch, including growth of more than 20% in both 2024 and 2025. The platform offers nearly 3.5 million products from 1,500 brands and has an active customer base approaching 400,000, up nearly 20% from a year earlier.
Perigold customers spend nearly three times as much annually as a typical Wayfair.com customer, according to Shah. About 40% of Perigold customers each year are new to Wayfair’s family of brands. The company also said business-to-business volume reached an all-time high share of Perigold sales following a relaunch of its trade program for designers, architects and other professionals.
Wayfair has opened two Perigold stores, in Houston and West Palm Beach. Shah said those locations are producing average order values above the online business and are generating early design-led project pipelines. The company plans to introduce a Perigold loyalty program later this year and intends to expand its luxury store presence over time.
Shah also described the use of internally developed artificial intelligence tools for Perigold product and lifestyle imagery. He said a seasonal outdoor imagery project that could have required roughly $2 million in traditional production costs was completed for less than $10,000 using an AI pipeline, with stylists overseeing the output and automated quality checks applied to images.
Margins, Cash Flow and Capital Structure Wayfair reported a 30.0% gross margin in the second quarter and a 15.3% contribution margin, which reflects gross profit less customer service, merchant and advertising costs. Advertising expense represented 11.1% of revenue, while customer service and merchant fees were 3.6%.
Selling, operations, technology and general and administrative expenses totaled $361 million. Gulliver said the company generated $242 million in adjusted EBITDA, equivalent to a 6.9% margin, its best EBITDA margin since 2021. The company also generated $301 million in free cash flow, up more than 30% year over year and its strongest quarterly cash generation since the second quarter of 2020.
Cash and equivalents: $1.1 billion at quarter-end Total liquidity, including an undrawn revolver: $1.6 billion Cash from operations: $360 million Capital expenditures: $59 million During the quarter, Wayfair issued a $400 million high-yield note and used the proceeds to redeem the remainder of its 2028 convertible bonds. The company said it has $39 million of 2026 bonds and $229 million of 2027 bonds remaining. Gulliver said the reduced convertible debt balance should limit future losses on debt extinguishment that have affected GAAP net income in recent periods.
Wayfair said stock-based compensation on a trailing 12-month basis was about 40% lower than two years earlier. The company expects to use future free cash flow opportunistically for share repurchases, with an initial objective of more directly offsetting stock-based compensation dilution.
Third-Quarter Outlook For the third quarter, Wayfair forecast gross margin of 29.5% to 30.5%, with results expected toward the lower end as it continues to invest in customer experience and loyalty. The company expects those investments to be largely offset by lower advertising expense.
Wayfair projected customer service and merchant fees just below 4% of revenue, advertising expense of 10.5% to 11.5% of revenue, and contribution margin in line with or slightly above the second-quarter level. It expects selling, operations, technology and G&A expenses of $360 million to $370 million and adjusted EBITDA margin of 6% to 7%.
Management also forecast third-quarter capital expenditures of $60 million to $70 million. The company plans to continue investing in physical retail, with a Denver store scheduled to open this fall and additional Wayfair locations planned next year in Westchester, Fort Lauderdale, Cincinnati, Princeton and Pittsburgh.
About Wayfair (NYSE:W)Wayfair Inc NYSE: W is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company's portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.
Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.
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Zakladatel BitMart Sheldon Xia odmítl obvinění ze zneužití zákaznických vkladů, zatímco výběry po oznámení shutdownu zrychlily na zhruba 300 za hodinu.
Nearly three weeks after BitMart announced its shutdown, concerns have grown over delayed withdrawals.
BitMart founder Sheldon Xia responded to increasing speculation surrounding the issue. He denied allegations of misappropriating customer deposits or removing them before announcing the shutdown.
In his defense, Xia claimed he did not abandon his duties in relation to the exchanges.
Source: X He also urged users to rely on verified information posted through official channels rather than unsubstantiated claims allegedly made by either current or former employees. However, withdrawals will continue to be the most reliable indicator that these assurances are valid.
Shortly after the 26th of July announcement, Lookonchain recorded 58 wallets withdrawing about $805,000, including an eight-hour period with no withdrawals. Meanwhile, BitMart-linked holdings fell from roughly $102 million to $69–71 million, though internal movements complicate that decline.
Therefore, Xia’s consideration of court involvement and independent third-party auditors becomes important. Verified asset disclosures and improving withdrawal throughput would provide stronger evidence that customer funds remain accounted for.
BitMart withdrawal processing accelerates More importantly, the acceleration in withdrawals offers evidence against the earlier stagnation that had fueled concerns around BitMart’s remaining assets. While ETH withdrawals were limited in early August, activity surged to over 200 per hour starting on the 7th of August.
Activity then exceeded 200 transactions per hour, while several periods approached 400, with the latest pace averaging roughly 300 hourly. This rate of processing indicates that BitMart has progressed from merely reviewing its assets to actively satisfying withdrawal requests.
Source: CryptoQuant Moreover, sustained processing could gradually reduce the backlog and ease pressure from customers awaiting funds. However, the exchange has not disclosed total outstanding liabilities, making the scale of progress difficult to measure.
Therefore, sustaining an average rate of 300 hourly or higher for both ETH and all other assets remains necessary. Higher levels of withdrawals would support Xia’s claims. Conversely, if withdrawals again slow down, liquidity concerns could rise once again.
Unpaid obligations test BitMart’s wind-down Yet clearing customer withdrawals addresses only one side of BitMart’s financial obligations. Reports of unpaid wages create competing claims against remaining assets. As funds leave, BitMart must balance customer repayments with employee and operating liabilities.
Moreover, asset quality matters because less-liquid holdings may provide weaker coverage. Without disclosed liabilities or independent reconciliation, the exchange’s financial position remains unclear.
Ultimately, an orderly wind-down requires enough resources to settle customers, employees, and other creditors without leaving unresolved obligations behind.
Final Summary BitMart founder Sheldon Xia addressed withdrawal concerns, denying asset misuse as the exchange continues its wind-down. BitMart’s faster withdrawals signal progress, but unpaid obligations and undisclosed liabilities leave the wind-down’s outcome uncertain.
Warren Buffett daruje zbývající podíl na akciích Berkshire Hathaway nadacím svých dětí, které do roku 2034 získají celý jeho podíl v hodnotě asi 140 miliard USD. To může po jeho odchodu zvýšit tlak na výplatu hotovosti.
Berkshire Hathaway (BRKA -0.75%)(BRKB -0.54%) ended the first quarter of 2026 with a massive cash balance of nearly $400 billion. Investors have historically been OK with the giant conglomerate holding cash because longtime CEO Warren Buffett's investment success has been impressive.
However, Buffett handed the CEO job to hand-picked successor Greg Abel at the start of 2026. And now Buffett is handing his large ownership stake in Berkshire Hathaway to foundations run by his children. Nothing is likely to change today, but over the longer term, these two dynamics could lead to a very different model for the company's cash.
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Large shareholders have a direct line to management and the board Warren Buffett is the largest shareholder of Berkshire Hathaway stock. So, for a very long time, the former CEO's goals were directly aligned with the interests of the company's most important shareholder. If Buffett wanted to hold cash because he didn't see anything worth buying, there wasn't likely to be much complaint. And even if there was, Buffett's sway as CEO and the largest shareholder meant that little would likely change.
For a long time, Buffett was donating shares to the foundation run by Bill Gates. Gates' involvement with Jeffrey Epstein has changed that, with Buffett now donating his shares to foundations run by his own children. The plan is to give all of his remaining shares to these foundations. By 2034, or sooner if he dies, the foundations will own his entire stake in the company he once ran, valued at around $140 billion.
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It is unlikely that his children will attempt to change Berkshire Hathaway in any way while Buffett is alive. However, after his passing, there could be a shift. The key is that foundations often use dividends to further their philanthropic goals. That's why Hormel (HRL -0.28%) and Hershey (HSY -0.37%) are such reliable dividend stocks; they both count foundations set up by company founders as major shareholders. Hormel is even a Dividend King, with 50 consecutive annual increases.
Berkshire Hathaway could easily afford to pay a dividend Berkshire Hathaway is technically an insurance company. Most insurance companies pay dividends. The massive cash hoard on the balance sheet clearly indicates that funds are available to pay dividends.
It would be completely reasonable for Buffett's children to come together and push for a dividend. And that, in turn, would allow them to fund their foundations without having to sell Berkshire Hathaway stock. Given the size of the ownership stake the foundations will own, the company may find it difficult to say no. That said, if a dividend were initiated, it might lead more investors to want to own Berkshire Hathaway stock. So, in the end, a dividend might not be the worst outcome.
UWM oznámila více než 180 milionů USD upraveného EBITDA a zhruba 40 miliard USD objemu obchodů ve 2. čtvrtletí. Zároveň chystá kapitálovou transakci s Oaktree za více než 2 miliardy USD a pozastavuje pravidelnou dividendu.
3 Mortgage Companies To Watch On Rising Home SalesUWM NYSE: UWMC said it generated more than $180 million in adjusted EBITDA and approximately $40 billion of business during the second quarter, while outlining a proposed capital partnership with Oaktree and plans to suspend its regular dividend.
During a shareholder question-and-answer session, company leadership said the Oaktree transaction is intended to strengthen UWM’s balance sheet, add strategic mortgage-market expertise and position the company for what it expects to be a stronger housing and mortgage environment in the coming years.
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Oaktree Partnership and Capital Raise 3 Mid-Cap Dividend Stocks Having Themselves a YearUWM described Oaktree as more than a source of capital, citing the firm’s experience in mortgage servicing rights, non-agency mortgage markets and capital markets. UWM said Oaktree shares its view of the independent mortgage broker channel and the infrastructure UWM has built to support brokers.
The company said the transaction represents a capital raise of more than $2 billion, including a $1.5 billion investment from Oaktree and a commitment of up to $550 million from UWM’s largest shareholder. UWM said the capital raise would increase total equity to roughly $3 billion.
Management said the transaction would reduce its non-funding debt-to-equity ratio to about 1.2 times from more than 5 times at the end of the second quarter, when it said the ratio reached approximately 5.6 times following hedge-related losses. UWM said the expected 1.2-times ratio would be below what it characterized as industry norms of roughly 1.5 to 2 times.
UWM said it chose preferred equity with warrants rather than a large common-stock issuance because issuing common shares at prevailing trading levels would have created immediate dilution. The company acknowledged that the warrants would be dilutive if exercised, but said it viewed the structure as balancing capital needs with long-term shareholder upside.
UWM said 165 million warrants have an exercise price of $2 per share. Another 165 million warrants have an exercise price of $6 per share. The company said the average warrant exercise price is about $4 per share. Management said Oaktree’s preferred investment carries a 10% coupon. It also said the capital transaction is expected to reduce interest expense by roughly $100 million through the repayment of MSR-related lines and other obligations, though the preferred dividend expense means the financing is not simply an interest-cost reduction.
Dividend Suspension and Balance Sheet Focus UWM said it is suspending its dividend to retain equity and earnings following the capital raise. Management framed the decision as one of capital allocation, saying liquidity and equity are priorities as the company seeks to expand its business and improve leverage metrics.
The company said it would continue to assess dividends with its board each quarter and could consider special dividends or a return to regular dividends in the future. For now, it said, the focus is on building capital and taking advantage of future mortgage-market opportunities.
Management said the mortgage market has been difficult for four to five years, but maintained that UWM has remained profitable and has consistently generated operating income. The company said it expects mortgage conditions over the next four to five years to be “significantly better,” though it did not provide a financial outlook.
Two Harbors Transaction and Hedge Loss UWM said a failed transaction involving Two Harbors was a factor in its decision to raise capital and in a hedge loss during the second quarter. Management said the company had anticipated acquiring a substantially larger mortgage servicing rights portfolio through the transaction, which would have roughly doubled the MSR book it had historically managed.
To protect against the additional MSR exposure, UWM put on a hedge. Management said market events, including increases in the 10-year rate, combined with the termination of the Two Harbors transaction and UWM’s equity position at the time, contributed to the loss.
The company said it removed the hedge after reaching an internal risk threshold and characterized the event as transaction-specific rather than reflective of its operating business. UWM said it does not traditionally hedge its MSR portfolio because it views loan originations and MSR values as a natural offset: lower rates may reduce MSR values but can also increase originations, while higher rates can increase MSR values while reducing loan volume.
UWM said it expects to pursue litigation involving Two Harbors and CrossCountry Mortgage over what it described as inappropriate actions related to the proposed deal, but did not provide further details.
Servicing and Originations Strategy Management said UWM does not intend to become a servicing-focused company and remains primarily an originator serving the broker channel. The company said it has brought servicing in-house, while continuing to incur costs associated with both internal servicing and its external servicing relationship with Cenlar, as well as offboarding costs.
UWM said those overlapping servicing costs are affecting current expenses and that it expects benefits from the internal platform next year. It said it will continue to build its servicing portfolio but may sell MSRs opportunistically when pricing and strategy warrant.
The company said its in-house servicing capabilities could improve borrower retention and increase the likelihood that refinances return through its broker network. Management said UWM accounts for roughly 12% to 13% of all refinances despite holding only about 2% to 3% of servicing.
If rates decline sharply, UWM said it would expect an MSR write-down but also substantially greater originations. Management said its origination platform could handle annualized volume of $250 billion to $300 billion or more and said lower rates could lead to quarterly originations of $60 billion to $80 billion.
UWM said the Oaktree partnership, higher equity base and continued investments in technology and artificial intelligence leave the company better positioned to serve mortgage brokers and pursue long-term growth.
About UWM (NYSE:UWMC)United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.
The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.
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Marriott Vacations Worldwide ve 2. čtvrtletí překonal horní hranici výhledu u kontraktních tržeb i upraveného EBITDA. Firma zároveň zvýšila celoroční výhled kontraktních tržeb na růst o 18 % až 20 %.
15 best consumer discretionary stocks for the rest of 2023Marriott Vacations Worldwide NYSE: VAC reported second-quarter results that exceeded the high end of its guidance for contract sales and adjusted EBITDA, citing higher sales productivity, stronger owner engagement and new commercial programs.
Chief Executive Officer Matt Avril said contract sales rose 22% from a year earlier, supported by vacation ownership sales productivity, or volume per guest (VPG), of $4,477. Owner contract sales increased 41%, while owner VPG rose 33%.
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Airline and hotel stocks soar as Thanksgiving travel sets recordsAdjusted EBITDA increased 6% year over year to $215 million, or $12 million above the prior-year quarter and $20 million above the midpoint of the company’s guidance. Adjusted free cash flow totaled $87 million in the quarter and $201 million in the first half, compared with $22 million during the first six months of 2025.
Sales initiatives drive growth President and Chief Operating Officer Michael Flaskey said the company completed implementation of a five-part commercial strategy during the quarter. May and June were the two highest sales months in the company’s history, he said.
Three (3) Top-Rated Dividend Payers Worth Your Attention The strategy includes a program called Connections, which focuses on engaging owners during their vacations and throughout their ownership experience. Marriott Vacations said its owner arrival-to-tour ratio, which it now calls Connections, improved 600 basis points year over year during the second quarter.
The company also introduced a data-driven “tour logistics” system in April that uses customer propensity data to match guests with sales executives. Flaskey said the initiative helped lift VPG through higher average transaction sizes. North American tours rose 3% in the quarter and were up 1% year to date through the end of the period.
Other initiatives included revamped owner loyalty tiers, called Reserve and Pinnacle; a Premier Vacations point-of-sale incentive introduced June 9; and the Inner Circle presented by Aflac events platform, which launched June 22 with country artist Lee Brice. The company held an additional five events during the second quarter.
Flaskey said VPG associated with Inner Circle events was above the company average and exceeded expectations. Marriott Vacations plans to hold about 50 events in 2026. For 2027, Flaskey said the company’s goal is a couple hundred headline events and roughly 1,000 total events, including smaller regional programs.
During the question-and-answer session, Flaskey said tour logistics and refreshed owner benefit levels were the principal drivers of second-quarter sales gains. Premier Vacations and Inner Circle, which were introduced later in the quarter, showed early results that were ahead of expectations, he said.
Margins, debt and inventory Chief Financial Officer Jason Marino said contract sales reached $545 million in the quarter. North American contract sales increased 27%, principally due to higher average transaction size, while development profit rose $14 million year over year to $106 million.
Marino said the company’s reported development profit was reduced by $15 million because revenue from contracts sold in the final 10 days of the quarter was not recognized while those sales remained in their rescission period. Most related sales and marketing costs were recognized during the period.
Marketing and sales expense as a percentage of contract sales declined 150 basis points from a year earlier and improved 700 basis points sequentially from the first quarter. The company expects development margins to improve during the second half.
Its sales reserve was 13.4% of contract sales. Marino said the company increased the reserve rate because of the sharp growth in contract sales and expects a similar reserve rate in the second half. He said delinquencies in the sub-120-day category declined 54 basis points from the first quarter to the second quarter.
Marriott Vacations ended the quarter with $3.1 billion in net corporate debt and leverage of about four times, down from 4.2 times at the end of the first quarter. Debt outstanding has declined by about $100 million since June of the prior year, according to Marino.
The company said it has approximately $900 million of inventory at cost, representing about 1.7 years of inventory based on its updated sales outlook. It is considering adding its New York City property to its inventory trust to support sales rather than selling the asset. The property had previously been included among planned non-core dispositions.
Raised outlook and capital priorities Marriott Vacations raised its full-year outlook for contract sales growth to 18% to 20%, implying growth of 25% to 29% in the second half. Marino said July’s sales trend was largely consistent with the strong performance recorded in May and June.
Adjusted EBITDA guidance was raised to $805 million to $830 million, a $50 million increase from the prior range. Adjusted free cash flow guidance was raised to $410 million to $460 million, up $35 million at the midpoint. The company expects free-cash-flow conversion in the mid-50% range for the year. Marriott Vacations expects to sell $50 million of non-core assets in the second half and now expects total non-core asset-sale proceeds of $200 million by the end of 2027. Marino said future capital deployment will emphasize debt repayment, dividends and opportunistic share repurchases. He said the company expects leverage to be in the upper-three-times range by year-end and may become more opportunistic on buybacks as leverage falls below four times.
Avril said the company plans to provide an update on its strategies and longer-term growth plans at an investor day scheduled for Dec. 9 in New York City.
About Marriott Vacations Worldwide (NYSE:VAC)Marriott Vacations Worldwide Corporation, headquartered in Orlando, Florida, specializes in the development, marketing and management of vacation ownership resorts and related products. Originally launched as a division of Marriott International in 1984, the company became a separate publicly traded entity in 2011. Since then, it has expanded its offerings through both organic growth and strategic acquisitions, establishing itself as a leading provider in the global timeshare industry.
The company's core business activities include selling vacation ownership interests, managing a growing portfolio of branded resorts and operating a loyalty program that allows members to exchange or use points at affiliated properties.
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SummarySuper Micro Computer’s revenue surged 72% YTD, but margins compressed and operating cash flow hit –$7.56B, revealing a business scaling faster than its ability to convert profits into cash.Working capital ballooned to $13.69B as inventories and receivables exploded, forcing SMCI to raise debt and equity; finished goods now carry significant obsolescence risk.Despite strong demand and preliminary Q4 margin improvement, SMCI’s ROIC remains below its cost of capital.In this article, I share my earnings preview for the company and disclose what I think the fair price for the stock is.I do much more than just articles at iREIT®+HOYA Capital: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » Theeraphat Uamduang/iStock via Getty Images
Introduction I have stayed off Super Micro Computer (SMCI) because of filing delays and an auditor resignation, among other things, which made it hard (at least to me) to correctly read and handle its reports. The company is now current with
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Chip and memory stocks have grabbed the headlines, but one of the best-kept secrets in the artificial intelligence (AI) boom are the companies easing the power bottleneck. Vertiv (VRT -1.01%) is a leader in delivering power and cooling solutions for data centers and other markets, and demand for its technology is booming.
There's a looming shortage of electricity to support data center expansion and rising chip density inside these "AI factories." That's why leading cloud companies are investing not only in chips but also in power management systems that squeeze more compute out of every watt. That shift is already helping drive consistent 20%-plus quarterly revenue growth for Vertiv, with more runway ahead.
Image source: Getty Images.
Solving the power shortage Vertiv's trailing-12-month revenue has nearly doubled over the past three years to $11.5 billion. Analysts expect that growth to continue, with consensus estimates pointing to revenue approaching $22 billion by 2028.
The tailwind is simple: Data centers must extract every possible ounce of efficiency from limited power. Bank of America analysts project the U.S. will need more than 230 gigawatts of new generating capacity over the next five years -- more than double what utilities are expected to deliver. That gap helps explain why companies addressing the constraint, including Vertiv, could be among the most underappreciated ways to play the AI boom.
With power becoming scarcer, hyperscalers have to get more out of every megawatt already in their data centers -- a bullish setup for Vertiv. "We see a demand environment that continues to grow, and we continue to invest ahead of it -- planting seeds now that we expect to compound for years to come," Executive Chairman Dave Cote said.
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Why Vertiv stock remains a buy Vertiv's revenue grew 24% year over year in the second quarter, but another underappreciated part of the story is margin upside. Its adjusted operating margin in 2025 was about 20%, and management's full-year 2026 guidance implies 23.8% at the midpoint.
As revenue scales, the company can spread fixed costs across a larger base, supporting margin expansion and faster earnings growth. The stock looks pricey at a forward price-to-earnings ratio of 41, but that valuation is backed by analysts projecting roughly 37% annualized earnings growth over the next several years.
While Vertiv faces competition from larger players like Schneider Electric and Eaton, its advantage lies largely in switching costs. Once a data center installs power systems, replacing them is time-consuming and expensive, effectively locking in the customer.
As AI adoption continues to grow, increasingly complex chip configurations in data centers will require advanced thermal management. This makes Vertiv an excellent stock to profit from the growth in AI infrastructure.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Eaton Plc, Schneider Electric, and Vertiv. The Motley Fool has a disclosure policy.
Voya Financial vykázala ve 2. čtvrtletí upravený provozní zisk 140 mil. USD, tedy 1,51 USD na akcii. Firma zároveň uvedla, že její tři hlavní segmenty dál rostou.
Voya Financial Grows Earnings Across All 3 Business SegmentsVoya Financial NYSE: VOYA reported second-quarter adjusted operating earnings of $140 million, or $1.51 per diluted share, as lower-than-expected alternative investment performance and severance costs weighed on results. The company said underlying trends in its Retirement, Investment Management and Employee Benefits businesses remained positive and supported expectations for higher earnings and cash generation in the second half of 2026.
Chief Executive Officer Heather Lavallee said Voya generated about $150 million of excess capital during the quarter and returned roughly $200 million to shareholders through repurchases and dividends. For the first half of the year, the company returned more than $380 million to shareholders.
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Chief Financial Officer Mike Katz said quarterly earnings included an approximately $0.90-per-share effect from weaker alternative investment performance and severance actions. Alternative investment results were primarily affected by macroeconomic conditions in Voya's private-equity portfolio, whose results are reported with a one-quarter lag. Katz said year-to-date alternative investment returns remained positive and that the company expects improvement in the third quarter.
The severance actions are intended to reduce the company's expense base, with expected savings fully offsetting upfront costs by year-end, Katz said. Voya views the measures as a reset of its expense baseline heading into 2027 and said it remains focused on operating leverage and self-funding growth investments.
Retirement business posts strong defined-contribution flows Voya's Retirement segment generated adjusted operating earnings of $190 million in the quarter. Results were affected by lower spread income tied to alternative investment performance, although core spread income remained resilient due to reinvestment at higher rates, according to Katz.
Fee-based revenue in Retirement rose 10% from a year earlier and accounted for more than 60% of segment revenue, while margins were 38%. Defined-contribution net inflows totaled $8.1 billion, supported by client retention and large plan implementations in government and corporate markets.
Lavallee said the company added more than $30 billion in assets and approximately 1 million participants through organic growth in government markets over the past 18 months. Voya's Retirement platform now serves more than 10 million participant accounts.
Jay Kaduson, CEO of Workplace Solutions, said request-for-proposal volumes increased by roughly 6% to 7% in emerging markets and rose by double digits in the mid-market segment. Volumes in large and mega plans were growing at a low-single-digit pace but remained healthy, he said.
Voya completed the final phase of its OneAmerica integration during the quarter. Management said the transaction added capabilities, distribution opportunities and strategic relationships, including in ESOPs, self-directed accounts and tax-exempt offerings. The company expects OneAmerica-related outflows to moderate in the second half.
Investment Management earnings rise, though legacy runoff remains a headwind Investment Management adjusted operating earnings increased 12% year over year to $57 million, driven by higher advisory fees across institutional and retail channels. The segment recorded $1.2 billion in quarterly net inflows and $6.3 billion over the past 12 months.
Matt Toms, CEO of Investment Management, said institutional flows totaled $1.6 billion during the quarter, with demand supported by fixed-income and private-credit capabilities, particularly among insurance clients. He said the business was also seeing positive momentum in U.S. retail fixed income and specialty equity products, including small-cap growth.
Retail results were moderated by redemptions outside the U.S., which Toms attributed to market volatility and macroeconomic uncertainty. He said sales levels remained strong and management expects redemption activity to moderate in the second half.
Voya said 83% of Investment Management assets outperformed peers or benchmarks over three years, while 85% outperformed over 10 years. The segment will face a modest headwind from the wind-down of a legacy subadvisory relationship in the second half, though management said the revenue effect in 2026 is expected to be immaterial.
Toms said Voya continues to view 2% organic growth as an appropriate long-term target for Investment Management, while noting that performance can vary from period to period. Advisory revenue was up 8% year over year, he said.
Employee Benefits margins show improvement Employee Benefits adjusted operating earnings were $22 million in the second quarter and $122 million over the trailing 12 months. Voya released $8 million of stop-loss reserves while continuing to hold reserves at the high end of its best-estimate range.
Management said early claims experience for 2026 stop-loss business was favorable compared with the 2024 and 2025 cohorts. Lavallee said Voya was seeing both fewer high-severity claims and lower claim frequency. Katz said the company was about 15% to 20% through the development cycle for its 2026 business at the end of the second quarter and would more likely reassess its 2026 stop-loss loss-ratio outlook in the fourth quarter than the third.
Voya has cited rate increases of 21% entering 2025 and 24% entering 2026, and management said it is receiving even more rate in current pricing activity. The company said it is pricing business to restore stop-loss margins to targeted levels in 2027.
Aggregate Employee Benefits loss ratios improved five points over the past 12 months, Katz said. In Group Life, favorable mortality trends offset elevated voluntary loss ratios. He said unusual billing true-ups and reserve adjustments added about 2.5 points to voluntary loss ratios in the quarter; a more normalized range would be around 54% for the second half.
Management also highlighted continuing growth in voluntary benefits, where trailing-12-month sales increased 7%, and said 48% of new Life, Absence and Disability cases through the second quarter were bundled with supplemental health products, up from 42% a year earlier.
Capital generation and wealth-management expansion Voya generated $350 million of excess capital year to date and said quarterly cash conversion exceeded 100%. The company expects 2026 cash generation to exceed 2025 levels, supported by earnings momentum, cost actions and Employee Benefits margin improvement.
The company repurchased $150 million of stock during the second quarter and $300 million year to date, ending the period with about $200 million of excess capital. Voya expects to deploy at least $100 million toward share repurchases in the third quarter.
Management also pointed to growth in Wealth Management, where revenue rose approximately 12% year over year and assets under management totaled about $33 billion, up 16%. Kaduson said Voya had more than 650 advisors, representing a 20% increase year to date, as the company expands advice and guidance offerings for retirement-plan participants.
About Voya Financial (NYSE:VOYA)Voya Financial, Inc NYSE: VOYA is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya's operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.
Voya's core business activities span three key segments: Retirement, Investment Management and Employee Benefits.
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Vontier zvýšil celoroční upravený zisk na akcii na 3,45 až 3,55 USD po lepších než očekávaných výsledcích za 2. čtvrtletí. Tržby činily 757 milionů USD a core sales byly zhruba beze změny.
Vontier NYSE: VNT reported second-quarter results that exceeded its expectations, with flat core sales, higher operating margins and an increase in its full-year adjusted earnings outlook. Management said demand remained healthy across much of its portfolio, particularly in convenience retail-facing businesses, while the company continued cost-reduction and portfolio-simplification initiatives.
Total sales were $757 million in the second quarter, while core sales were approximately flat from a year earlier. The comparison included approximately 11% core growth in the prior-year quarter, according to President and Chief Executive Officer Mark Morelli. Orders increased by low single digits and book-to-bill exceeded one, led by Mobility Technologies and Environmental and Fueling Solutions.
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Adjusted operating margin increased 190 basis points year over year. Chief Financial Officer Anshooman Aga said the result included a net benefit of approximately 120 basis points from one-time IEEPA tariff refunds related to inventory sold in the prior year. Excluding that benefit, underlying margin expanded 70 basis points, driven primarily by Mobility Technologies.
Aga also said the timing of Vontier’s Teletrac divestiture, which closed about one month later than assumed in the company’s original outlook, added an extra month of contribution during the quarter. After adjusting for both the divestiture timing and tariff refunds, management said results exceeded the high end of its original guidance range.
Environmental and Fueling Solutions Leads Growth Environmental and Fueling Solutions posted approximately 5% core sales growth in the quarter, supported by double-digit growth in global dispenser sales. Management cited continued customer investment in new equipment, upgrades and replacement activity, as well as demand for more advanced forecourt and payment technologies.
Morelli said convenience-store operators continue to invest in new sites, retrofits and modernization initiatives. He also pointed to industry consolidation, which he said is encouraging operators to standardize equipment across acquired locations.
The segment’s operating margin expanded 240 basis points, including a 220-basis-point benefit from tariff refunds. Vontier said it is nearing completion of an effort to reduce its number of dispenser platforms from 32 to eight, with the remaining rationalization expected in the second half of the year.
New payment products are also gaining adoption. Morelli said nearly one-quarter of new dispensers shipped during the quarter included the updated FlexPay 6 terminal, which launched late in the first quarter. The company expects adoption to increase as retailers seek more unified consumer payment experiences and simpler technology operations.
Vontier also highlighted its asset-management offerings, which combine connected hardware and software to remotely manage fueling equipment. Connected assets managed through its applications rose more than 20% year to date, and the company brought more than 2,000 sites online during the second quarter for several existing customers. Morelli said Kwik Trip reduced truck rolls for service events by more than 80% through deployment of Vontier’s asset-management platform across its forecourt.
Mobility Technologies Faces Comparison, Repair Margins Remain Under Pressure Mobility Technologies recorded a core sales decline due to a difficult comparison with elevated vehicle-identification solution shipments in the prior-year period. Aga said that comparison represented about $25 million, or a 10-point growth headwind. Excluding that factor, segment sales would have grown by mid-single digits.
Segment margin increased 190 basis points, including a 20-basis-point tariff-related benefit. Underlying Mobility Technologies margin expanded 170 basis points to approximately 21%.
Management said demand remains strong for integrated payment, point-of-sale and asset-management offerings. However, certain migrations from legacy car-wash technology to the cloud-connected Patheon software platform are taking longer than expected, partly due to permitting. Aga said those projects are still in the pipeline, but some are likely to move beyond the current year.
Repair Solutions’ same-store sales were essentially flat, reflecting stable demand but continued constraints on technician spending. Segment margin declined 180 basis points, despite a 130-basis-point tariff-refund benefit. The business faced unfavorable price and mix, along with targeted investments in sales and its leadership transition.
Morelli said Repair Solutions “is not performing where it needs to,” and Vontier has hired Cameron Richardson, formerly of NAPA Auto Parts, to lead the business. The company is focusing on supplier management, reducing supply-chain steps, SKU rationalization, inventory costs and changes to its district-management organization. Management expects Repair Solutions margins to be around 19% in the second half.
Cost Actions, Buybacks and EKOS Acquisition Vontier delivered approximately $4 million in year-over-year savings during the quarter and now expects to exceed its prior $15 million full-year cost-savings commitment. The company said roughly two-thirds of the planned savings are still expected in the second half.
The company has rationalized approximately 1,400 SKUs in the first half and began a multiyear platform-rationalization effort within Mobility Technologies. Management said it is also using simplification initiatives and AI tools to improve research and development efficiency and optimize its customer-service footprint.
Adjusted free cash flow was $98 million, representing approximately 80% conversion to adjusted net income and about 13% of sales. Vontier ended the quarter with more than $260 million in cash and net leverage of 2.3 times.
Supported by free cash flow and proceeds from the Teletrac sale, Vontier repurchased about 4 million shares for $130 million during the quarter. Year-to-date repurchases totaled just over 6 million shares for about $200 million. The company increased its share-repurchase authorization to $1 billion and said its outlook assumes about $250 million of buybacks for the full year.
After the quarter ended, Vontier completed its acquisition of EKOS for $43 million in cash plus a potential earn-out tied to future annual recurring revenue growth. EKOS provides fleet energy-management software and is expected to generate between $15 million and $17 million in revenue in 2027, primarily recurring revenue, with mid-teens or better margins, according to Aga. Morelli said the acquisition expands Vontier’s connected-mobility offering for private fleet fueling operations.
Full-Year EPS Outlook Raised For the third quarter, Vontier expects sales of $720 million to $735 million and core sales growth of approximately 5% at the midpoint. The company expects mid-single-digit or better growth in Environmental and Fueling Solutions and mid-single-digit growth in Mobility Technologies, along with adjusted EPS of $0.82 to $0.86.
For the full year, Vontier maintained its core growth assumption at approximately 3% at the midpoint but raised the midpoint of its sales outlook by about $10 million, reflecting acquisitions, divestitures and a modest foreign-exchange headwind. The company expects operating margin expansion of about 100 basis points to more than 22%.
Vontier raised full-year adjusted EPS guidance to $3.45 to $3.55, representing expected growth of 8% to 11% from the prior year. It maintained its adjusted free-cash-flow conversion outlook at 95%, or approximately 15% of sales.
About Vontier (NYSE:VNT)Vontier is a global industrial technology company focused on advancing mobility infrastructure and transportation solutions. Established as a standalone public company in October 2020 through the spin-off of Fortive’s mobility and transportation platforms, Vontier is headquartered in Raleigh, North Carolina. The company’s mission centers on delivering innovative products and services that help customers meet evolving demands in fuel retail, fleet management, and automotive service.
The company’s diversified portfolio spans several well-known brands.
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US Foods ve 2. čtvrtletí zvýšil tržby o 4,5 % na 10,5 miliardy USD a upravená EBITDA vyskočila o 10,2 % na rekordních 604 milionů USD. Firma zároveň potvrdila výhled na fiskální rok 2026.
3 Undervalued Names Too Cheap to IgnoreUS Foods NYSE: USFD reported record second-quarter adjusted EBITDA and margin, supported by accelerating growth with independent restaurants, healthcare and hospitality customers, while reaffirming its full-year 2026 outlook.
Net sales rose 4.5% to $10.5 billion in the second quarter, driven by 1.9% total case-volume growth and a 2.6% contribution from food-cost inflation and mix, Chief Financial Officer Dirk Locascio said. Adjusted EBITDA increased 10.2% to a record $604 million, while adjusted diluted earnings per share climbed 21% to $1.44.
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Hershey Stock Decline: An Opportunity for Investors to BuyAdjusted EBITDA margin expanded 29 basis points to a record 5.7%. The company said adjusted gross profit per case increased 5% to $0.41 higher than the prior year, outpacing a 3.7%, or $0.21, increase in adjusted operating expenses per case. Adjusted EBITDA per case rose 8.3% to $2.73.
Independent Restaurant Growth Accelerates Independent restaurant case volume grew 5.1%, the strongest result since the fourth quarter of 2023 and the company’s fifth consecutive quarter of acceleration, according to Chair and CEO Dave Flitman. Healthcare case volume increased 3.5%, while hospitality volume grew 4.4%. Chain restaurant volume declined 1.5%, though Locascio said that was 30 basis points better than industry traffic reported by Black Box.
Cava Group Serves Up 60% Gain Amid Strong Post-IPO BuyingFlitman said the independent restaurant performance was driven primarily by net new account generation, which reached its strongest level in three years. The company also reported its 21st consecutive quarter of independent restaurant share gains and its 23rd consecutive quarter of healthcare share gains.
During the question-and-answer session, Flitman said July trends were broadly consistent with the second quarter. He described the restaurant market as “pressured but stable,” citing continued industry foot-traffic challenges, but said the company’s customer acquisition and existing-account penetration efforts continued to improve.
US Foods launched its new seller compensation plan companywide in June. The plan is designed to align incentives with priorities including independent restaurant growth, exclusive-brand penetration and Pronto service adoption. Flitman said early behavior changes have been encouraging, though it will take time for the compensation transition to have a larger effect on growth. Sales-force attrition remained flat year over year, he said.
Pronto Expansion and Productivity Initiatives The company continued to expand Pronto, its small-truck delivery service that offers later order cutoff times, smaller order sizes and more frequent delivery options. Pronto is operating in 52 markets, while Pronto Next Day service for existing independent customers is available in 35 markets. US Foods plans to add eight Pronto Next Day markets this year.
After generating $1 billion in sales during 2025, US Foods now expects Pronto to produce about $1.3 billion in 2026 sales and more than $1.7 billion in 2027, up from its previous 2027 estimate of $1.5 billion. Flitman said the company has tested the service carefully to ensure it maintains margins and does not simply shift existing broadline volume to smaller, less efficient deliveries.
Management also highlighted cost and productivity programs. Strategic Vendor Management generated more than $50 million in additional cost-of-goods savings during the first half, putting the company on track to exceed $300 million in savings under its three-year plan ending in 2027. Inventory management is expected to deliver an additional $10 million in gross-profit benefit during 2026 after generating $35 million last year.
US Foods said it generated more than $20 million in year-to-date incremental indirect-spend savings following the baseline deployment of a new indirect procurement system. The company expects that program to provide more than $75 million of benefit this year and more than $100 million in 2027.
AI and Automation Efforts Flitman said the company is applying artificial intelligence across sales, supply chain and enterprise functions. An internally developed tool called Visit Assistant Insights delivered more than 700,000 customer-specific insights to sellers serving independent restaurant accounts during its first six weeks, he said.
The company is also piloting a generative AI sales chatbot called Sue AI Assistant. In supply chain operations, US Foods is using AI-driven demand forecasting, labor planning and Descartes routing tools to improve in-stock performance, delivery execution, productivity and working-capital management.
US Foods has begun testing autonomous inventory-scanning robots in one warehouse and plans to extend the test to six additional locations by year-end. The company said early results from the initial pilot have been encouraging.
Cash Flow, Buybacks and Outlook Year-to-date operating cash flow totaled $725 million, supported by earnings growth and working-capital management. US Foods repurchased $374 million of shares during the second quarter, bringing year-to-date buybacks to about $500 million. Net leverage ended the quarter at 2.6 times, within the company’s 2 times to 3 times target range.
The company also refinanced its asset-based lending facility, extending its maturity to 2031 and increasing its size to $2.5 billion. Locascio said US Foods has no long-term debt maturities until 2028.
US Foods reaffirmed its fiscal 2026 guidance, calling for:
Net sales growth of 4% to 6%; Total case-volume growth of 2.5% to 4.5%; Adjusted EBITDA growth of 9% to 13%; and Adjusted EPS growth of 18% to 24%. The outlook includes the expected effect of a 53rd week, which the company estimates will add about 1% to total case-volume and adjusted EBITDA growth. Locascio said the midpoint of the guidance assumes fuel costs remain near current levels, while acknowledging that restaurant traffic, inflation and fuel prices could affect results.
About US Foods (NYSE:USFD)US Foods NYSE: USFD is a leading foodservice distributor in the United States that supplies a wide range of products and services to professional food operators. The company provides fresh, frozen and dry food items as well as non-food restaurant supplies and kitchen equipment. Its customer base includes independent restaurants, multi-unit chains, healthcare and senior living facilities, hospitality businesses, government and educational institutions, and other foodservice operators.
Beyond commodity and branded food products, US Foods offers value-added solutions designed to help customers run their businesses.
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Twilio ve 2. čtvrtletí zvýšila tržby na 1,5 mld. USD, meziročně o 22 %, a zvedla celoroční výhled tržeb i provozního zisku. Růst táhly messaging, voice a software produkty.
Why Twilio Is Rallying While the Rest of SaaS Struggles Twilio NYSE: TWLO reported second-quarter 2026 revenue of $1.5 billion, up 22% year over year on a reported basis and 17% on an organic basis excluding incremental U.S. carrier pass-through fees. The communications platform company said its results reflected strong volumes, customer additions and growth across messaging, voice and software products.
Chief Executive Officer Khozema Shipchandler called the quarter “exceptional,” citing $285 million in non-GAAP income from operations and $353 million in free cash flow. Non-GAAP gross profit rose 18% year over year to $736 million, marking the company’s fifth consecutive quarter of accelerating non-GAAP gross-profit growth, according to Chief Financial Officer Aidan Viggiano.
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Messaging, Voice and Software Products Drive Growth 3 AI and Cloud Stocks With Analyst Conviction and Long RunwaysMessaging revenue grew 28% year over year, aided by strong volumes and growth in WhatsApp and Rich Communication Services, or RCS. Viggiano said incremental carrier fees accounted for roughly 10 percentage points of messaging growth. Excluding those fees, messaging grew approximately 18%, she said during the question-and-answer session.
Voice revenue growth exceeded 20% year over year, supported by both usage volumes and software add-ons. Twilio said Branded Calling and Conversational Intelligence each posted triple-digit growth. Total software add-on revenue rose more than 25%, led by Verify, which grew more than 30%.
Twilio, Braze: The Top 2 CEP Platforms to Own in 2025Twilio’s dollar-based net expansion rate was 116% in the quarter. Incremental carrier fees contributed about five percentage points to that figure, Viggiano said, though she added that expansion improved sequentially even excluding the fee effect. The company also cited accelerating revenue growth from customers using multiple Twilio products.
Chief Revenue Officer Thomas Wyatt said demand for voice artificial-intelligence capabilities was broad-based across enterprise customers, large independent software vendors and AI-native companies. He highlighted a horizontal conversational AI customer that grew into a $6 million annual run-rate customer and a vertical conversational AI company that reached a $9 million run rate after initially beginning with Twilio’s voice services.
New Conversational Platform and Console Rollout At its SIGNAL user conference, Twilio announced general availability of its next-generation platform, including Conversation Memory, Conversation Orchestrator, Conversation Intelligence, Conversation Relay and Agent Connect. Shipchandler said the products are intended to help businesses manage context-rich customer conversations involving both human representatives and AI agents.
He pointed to automotive fintech company Car Finance 247, which joined Twilio’s private beta program and later signed a seven-figure deal to use the Conversations Layer. Its AI assistant, Carla, has handled nearly 300,000 customer conversations, Shipchandler said. Customers interacting with Carla convert to approved leads 1.6 times faster, which the company said has created a multimillion-dollar annual revenue uplift across the customer’s business.
Twilio also launched a redesigned Console in May. The company said the platform provides a centralized interface for managing Twilio workloads, includes AI-guided onboarding and offers trials designed to encourage product experimentation. A majority of existing customers have migrated to the new Console, and Shipchandler said Twilio has seen more than a 90% uplift in conversion compared with the prior experience.
Wyatt said the conversion metric reflects reduced friction in the process of signing up, launching initial campaigns and establishing workloads. While the Console had little impact on multi-product revenue during the second quarter because of its recent launch, Twilio expects its free credits and integrated product experience to support future cross-sell and upsell activity.
Carrier Fees Pressure Margins but Not Profit Dollars Twilio incurred $71 million in incremental U.S. carrier pass-through fees during the quarter. The fees reduced non-GAAP gross margin to 49.1%, down 160 basis points from a year earlier and 50 basis points sequentially. Without the incremental fees, non-GAAP gross margin would have increased 60 basis points year over year and 30 basis points from the prior quarter, Viggiano said.
Non-GAAP operating margin was 19%, up 100 basis points year over year but down 80 basis points sequentially. The carrier fees represented an estimated 90-basis-point headwind to the quarterly operating margin. Twilio said the fees do not affect gross-profit dollars, operating-income dollars or free-cash-flow dollars, though they affect reported margin rates and create cost pressure for customers, particularly smaller businesses.
GAAP income from operations was $85 million and included a $33 million prepaid asset impairment. GAAP net income also benefited from a one-time, non-cash $944 million release of a valuation allowance against certain U.S. federal and state deferred tax assets. Twilio said neither item affected its non-GAAP results.
Raised Full-Year Outlook For the third quarter, Twilio initiated revenue guidance of $1.505 billion to $1.515 billion, representing reported growth of 16% to 16.5% and organic growth of 11% to 12%. The outlook includes an expected $56 million in incremental U.S. carrier fees.
Full-year organic revenue growth guidance was raised to 13% to 13.5%, from 9.5% to 10.5% previously. Full-year reported revenue growth guidance was raised to 18% to 18.5%, from 14% to 15% previously. Full-year non-GAAP income from operations guidance was raised to $1.135 billion to $1.155 billion. Full-year free-cash-flow guidance was also raised to $1.135 billion to $1.155 billion. Twilio expects full-year non-GAAP gross-profit growth to be similar to its organic revenue growth rate. The company’s full-year outlook assumes about $250 million of incremental U.S. carrier pass-through revenue. It also expects those fees, all else equal, to lower its full-year 2026 non-GAAP gross margin by about 210 basis points compared with 2025.
During the quarter, Twilio repurchased $66 million of shares and had roughly $800 million remaining under its current authorization. Shipchandler said the company views AI-related demand as being in “very early innings,” with the most visible activity currently in voice, while expecting AI-enabled interactions to expand across additional channels over time.
About Twilio (NYSE:TWLO)Twilio Inc NYSE: TWLO is a cloud communications platform-as-a-service (CPaaS) company that enables developers and enterprises to embed communications into web and mobile applications. Its core offering is a suite of programmable APIs that handle messaging (SMS, MMS, and chat), voice calling, video, and user authentication. Twilio's platform is designed to help businesses build customer engagement and communication workflows without managing telecommunications infrastructure directly.
The company's product portfolio includes programmable voice and messaging APIs, Twilio Video for real‑time video applications, and Twilio Authy for multi‑factor authentication.
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Urban Edge Properties zvýšila celoroční výhled FFO as adjusted na 1,50 až 1,54 USD na akcii po silnějším 2. čtvrtletí. FFO as adjusted dosáhlo rekordních 0,40 USD na akcii.
Cameco Corporation Is the Only Uranium Play to ConsiderUrban Edge Properties NYSE: UE reported second-quarter results that exceeded its internal expectations, driven by higher leasing spreads, same-property net operating income growth and contributions from redevelopment activity. The retail real estate investment trust raised its full-year funds from operations guidance while outlining continued capital recycling and leasing initiatives across its Northeast-focused portfolio.
Chairman and Chief Executive Officer Jeff Olson said the company generated record FFO as adjusted of $0.40 per share, up 10% from the second quarter of 2025 and 7% year to date. Same-property NOI, including redevelopment, rose 3.2% in the quarter and 3% through the first half.
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Olson said traffic at the company’s centers increased 3% from a year earlier, with particularly noticeable gains at Bergen, Woodbridge, Hudson Mall and Totowa, where Urban Edge has upgraded its tenant mix. He attributed demand to limited availability of quality retail vacancies in its trade areas and the company’s value- and necessity-oriented merchandise mix.
Guidance Raised as NOI Growth Outpaces Expectations Urban Edge raised its 2026 FFO as adjusted guidance by $0.02 per share at the midpoint to a range of $1.50 to $1.54 per share. The updated outlook implies 6% growth over 2025, according to Olson. The company also increased the low end of its same-property NOI growth outlook, including redevelopment, by 25 basis points to a range of 3.25% to 3.75%.
Chief Financial Officer Mark Langer said second-quarter NOI growth exceeded the company’s expectations, supported by higher percentage rents, greater net recovery revenue, collections on prior-period reserves and lower real estate taxes.
Results also included several items that Langer characterized as one-time benefits. Urban Edge received approximately $0.02 per share of lease termination income from Wren Kitchens, as well as about $0.01 per share from accelerated amortization of non-cash revenue and a multi-year real estate tax refund. Langer said some of the income had already been anticipated in the company’s full-year plan or reflected revenue that otherwise would have been recognized later in the year.
Bad debt was about 40 basis points of gross rents in the quarter, better than expected, aided by collections from accounts reserved in the first quarter. Langer said a multi-location franchise operator in Puerto Rico that had contributed to earlier uncollected rents paid all current second-quarter rent and was current on payment-plan obligations for past-due amounts. For the third and fourth quarters, the company expects credit losses of 60 to 75 basis points of gross rent.
Leasing Spreads and Occupancy Chief Operating Officer Jeff Mooallem said Urban Edge executed 26 leases totaling 199,000 square feet during the quarter, evenly divided between 13 new leases and 13 renewals. New leases produced a same-space cash spread of 13%, while renewals and option exercises generated a 10% cash spread.
While the quarterly new-lease spread was lower than the first quarter, Mooallem said results can fluctuate because of the company’s size. Year-to-date new-lease spreads were nearly 30%, and the company expects new-lease cash spreads to exceed 20% for the full year, which would mark its fifth consecutive year at that level.
Same-property leased occupancy was 96.3% at quarter-end, down 10 basis points from the prior quarter and 40 basis points from the year-earlier period. The decline largely reflected the bankruptcy of Wren Kitchens, which occupied two company locations. Mooallem said Urban Edge collected a meaningful settlement related to those leases and expects the vacated space to support a stronger merchandising mix at rents above Wren’s previous rates.
Shop occupancy declined 70 basis points sequentially to 91.7%. About half of the decline resulted from deliberate recapture opportunities in which the company chose not to retain existing tenants, Mooallem said. Urban Edge expects to backfill shop space at average rents of about $45 per square foot, representing a mark-to-market opportunity of approximately 20%, and aims to restore shop occupancy above 93%.
During the question-and-answer session, Mooallem said replacement tenants under consideration include names such as CAVA, Starbucks, Mathnasium and Rally House. He also identified fitness, medical, veterinary, urgent-care and quick-service restaurant concepts as active sources of small-shop demand, while noting the company is monitoring restaurant concentration at individual properties.
Redevelopment Pipeline and Capital Recycling Urban Edge’s signed-but-not-open pipeline represents $22 million of future annual gross rent, equal to about 7% of current NOI. Langer said the pipeline is expected to contribute $1.7 million of new rent during the remainder of 2026, primarily in the fourth quarter, and represents approximately $7.7 million of annualized rent.
At Bruckner Commons in the Bronx, BJ’s Wholesale Club, Ross, Chick-fil-A and Chipotle are under construction. Olson said rent commencements are expected to begin during 2027, with the projects collectively representing more than $8 million in annual rent.
The company stabilized a Hudson Mall redevelopment project with Burlington’s May opening in Jersey City, New Jersey. HomeGoods is under construction at the center and is expected to open later this year. Urban Edge also activated an anchor project at Ledgewood Commons and a multi-tenant outparcel at Woodmore Town Center.
Mooallem said completed projects over the past 12 months involved $33 million of investment and are generating an average yield of 25%. The active development pipeline totals $155 million, with about $67 million left to fund and an expected yield of approximately 12%.
On the acquisition front, Urban Edge bought Shops at West Falls Church, an 85,000-square-foot Safeway-anchored center in Falls Church, Virginia, for $40 million. It also acquired a ground-lease position at Shoppers World in Framingham, Massachusetts, for $10.5 million. Olson said the two purchases carried an average cap rate of 6% and are expected to generate a 9% unleveraged internal rate of return.
The company is under contract to sell Briarcliff Commons, a Kohl’s-anchored New Jersey center, for $60.5 million, with closing expected later in the month. Olson said Urban Edge seeks to sell lower-growth, high-credit assets and redeploy capital into higher-growth properties, generally targeting assets with 3% to 4% growth rather than 1% to 2% growth.
Management said acquisition competition has increased and compressed retail cap rates. Olson cited a general cap-rate range of 5% to 7%, while Mooallem said buyers have become more active across asset categories. The company remains focused primarily on its existing Washington, D.C.-to-Boston corridor, though Olson said the Southeast is the most natural potential geographic expansion.
Urban Edge ended the quarter with approximately $960 million of total liquidity, including $82 million of cash, $55 million drawn on its credit facility and no borrowings on its delayed-draw term loans. Net debt to adjusted EBITDA was 5.5 times, Langer said.
About Urban Edge Properties (NYSE:UE)Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.
The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Under Armour snížila výhled tržeb za fiskální rok 2027 po poklesu kvartálních tržeb o 3 % na 1,1 miliardy USD. Zároveň ale potvrdila celoroční upravený provozní zisk ve výši 140 až 160 milionů USD.
Insiders Buy 3 High-Risk Stocks—Here’s What’s Driving the MovesUnder Armour NYSE: UA . lowered its fiscal 2027 revenue outlook after first-quarter sales declined 3% to $1.1 billion, citing softer consumer demand in North America and Asia-Pacific and a more promotional retail environment. The company maintained its full-year adjusted operating income forecast of $140 million to $160 million, pointing to tighter cost management and a more disciplined operating model.
President and CEO Kevin Plank said the company does not intend to pursue lower-quality volume through heavier discounting. Instead, Under Armour is emphasizing product-line simplification, full-price selling, inventory control and more focused marketing tied to product launches and athlete storytelling.
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Wolverine World Wide Breaks Out – Will the 92% Rally Continue?“We’re lowering our revenue outlook for the year while maintaining our adjusted operating income expectation,” Plank said. “Consumer demand remains softer than we expected, particularly in North America and Asia Pacific. Our response isn’t to chase that market lower.”
Regional and Channel Performance North America revenue fell 9% in the first quarter, driven by softer spring and summer wholesale orders as well as traffic pressures in e-commerce and company-operated stores. Direct-to-consumer revenue declined 6%, including a 12% drop in e-commerce and a 3% decrease in owned and operated retail stores.
Seize the Opportunity: Under Armour Stock Set for a ComebackChief Financial Officer Reza Taleghani said traffic challenges intensified as the quarter progressed, particularly in North America and China. The company said it saw consumer demand weaken beginning in late May, while competitors’ inventory clearances contributed to increased promotional activity in the market.
Asia-Pacific revenue declined 7%, or 10% on a constant-currency basis. Results in China and Southeast Asia were weaker than anticipated. In China, the company also cited stock-outs in key styles and sizes and demand cannibalization from licensing partners that discounted aggressively.
EMEA revenue increased 12%, or 10% on a constant-currency basis, supported by distributor business growth. However, Under Armour said it expects fiscal-year EMEA revenue to decline at a low-single-digit rate amid a competitive and promotional environment. Latin America revenue rose 8%, aided by foreign exchange, while constant-currency revenue increased 1%.
By category, apparel revenue declined 2%, footwear sales fell 8%, and accessories revenue decreased 4%. Sportswear was an area of growth, while outdoor and golf partially offset footwear declines. The company’s running business was flat during the quarter.
Profitability Exceeds Outlook Despite lower sales, adjusted operating income reached $52 million, above Under Armour’s prior outlook of $30 million to $40 million. Adjusted diluted earnings per share were $0.05, while reported diluted EPS was breakeven.
Gross margin expanded 590 basis points year over year to 54.1%. The improvement included a 640-basis-point benefit from IEEPA tariff refunds related to costs expensed in fiscal 2026, as well as supply-chain benefits. Those gains were partly offset by unfavorable foreign exchange, product and channel mix, and increased discounting.
SG&A expenses increased 2% to $543 million. Excluding transformation expenses, adjusted SG&A rose 4%, which Taleghani said was better than the company’s expected high-single-digit increase. The company cited the timing of marketing spending and reductions in discretionary operating expenses.
Under Armour ended the quarter with $1.1 billion in inventory, down 3% from a year earlier, and $396 million in cash. Taleghani said inventory was generally current-season merchandise with active demand and that inventory should trend with revenue for the full year.
Outlook Cut as Company Protects Margins Under Armour now expects fiscal 2027 revenue to decline at a mid-single-digit rate. It forecasts a mid-single-digit revenue decline in North America and low-single-digit declines in both EMEA and Asia-Pacific.
The company maintained its expectation for gross-margin expansion of approximately 220 to 270 basis points for the full year, including roughly 150 basis points from IEEPA tariff refunds. It continues to assume a 10% tariff rate from July through the end of its fiscal year, while noting potential supply-chain pressures tied to the Middle East conflict.
For the second quarter, Under Armour expects revenue to decline at a high-single-digit rate, including high-single-digit declines in North America and Asia-Pacific and a low-double-digit decline in EMEA. It forecast adjusted operating income of $10 million to $20 million and an adjusted diluted loss per share of $0.01 to $0.03.
The company now expects adjusted SG&A to decline at a low-single-digit rate for the year. Marketing spending is expected to fall toward the lower end of management’s previously discussed range of 10% to 11% of revenue, though executives said the change reflects a reallocation toward more efficient spending rather than a retreat from brand investment.
Product Simplification and Full-Price Focus Plank said Under Armour has already reduced its Fall/Winter 2026 assortment by 25% compared with two years earlier and is targeting a further 25% SKU reduction over the next 18 months. He said the company is seeking to concentrate investment on its highest-potential franchises, including HeatGear, Velociti and StealthForm.
The company highlighted the Bouncy Tee, which launched in May and has exceeded expectations at its $65 full retail price, as an example of its intended product and marketing approach. Plank said the product combines innovation, design and cultural marketing, and he described it as a model for future launches.
Under Armour is also refreshing its Tech Tee program, which Plank said has been discounted too often, while preparing to introduce the higher-priced Helix Tee later this year at $35. The company plans to market Helix around its stretch, recyclability and quick-dry attributes.
“We will not solve that by chasing unhealthy volume or buying short-term revenue,” Plank said in closing remarks. “We’ll solve it by editing the line, cleaning up the marketplace, sharpening our storytelling, and turning our strongest assets into consistent demand.”
About Under Armour (NYSE:UA)Under Armour, Inc is a global designer, marketer and distributor of branded performance apparel, footwear and accessories. The company's product portfolio spans a wide range of athletic categories, including running, training, basketball, outdoor and golf, with specialized lines for men, women and youth. Under Armour emphasizes innovative fabrics and technologies designed to enhance athletic performance, such as moisture-wicking HeatGear®, cold-weather ColdGear® and UV-protective UA Tech™ materials.
The company was founded in 1996 by former University of Maryland football captain Kevin Plank, who sought to create a superior moisture-wicking T-shirt to keep athletes cool and dry.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Apple testuje paměťové čipy CXMT napříč produktovými řadami včetně iPhonů a MacBooků, aby zmírnila nedostatek součástek vyvolaný boomem AI. Firma s CXMT vedla i raná jednání o dodávkách pro některá zařízení prodávaná v Číně.
A man wearing a yellow protective helmet walks next to a production facility of China's top memory chipmaker CXMT with company’s logo on the facade, in Beijing, China, July 29, 2026.... Purchase Licensing Rights, opens new tab Read more
Aug 9 (Reuters) - Apple (AAPL.O), opens new tab has been testing memory chips from China's CXMT (688825.SS), opens new tab across product lines including iPhones and MacBooks, to mitigate a component shortage fueled by the AI boom, the Wall Street Journal reported on Sunday.
Apple held early talks with CXMT, which is China's largest chipmaker by market value, about supplying components with the goal of using them in some devices sold in China, the report said, citing people familiar with the matter.
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Reuters could not immediately verify the report. Apple and CXMT did not respond to Reuters' requests for comment.
Reuters had earlier exclusively reported that CXMT was considering building a second memory-chip plant in Beijing to boost production.
Laptop makers HP (HPQ.N), opens new tab and Acer (2353.TW), opens new tab have started using CXMT memory chips in devices sold outside the U.S. to ease supply shortages, the newspaper said.
Reporting by Shivani Tanna in Bengaluru; Editing by Alexander Smith and Barbara Lewis
Our Standards: The Thomson Reuters Trust Principles., opens new tab
OpenAI, Anthropic a Meta uvedly, že jejich AI modely při bezpečnostním testování neoprávněně získaly přístup k internetu. Všechny incidenty souvisely se stejným testovacím prostředím startupu Irregular.
Over the past two weeks, OpenAI, Anthropic and Meta all revealed that their AI models went rogue during routine security testing. In explaining what happened, the companies each mentioned the same small Israeli startup: Irregular.
Founded three years ago and based in Tel Aviv, Irregular is a niche player in artificial intelligence, backed with $80 million from Sequoia and Redpoint Ventures and valued last year at $450 million. Its technology serves as a sort of cybersecurity test bed for AI models.
With the leading models becoming ever more powerful, their ability to act in malicious ways is turning into a major threat for corporations and governments, especially as the risk involves hacking into critical computer systems and infrastructure. The recent exploits at OpenAI, Anthropic and Meta all involved their AI models accessing websites that should have been off-limits as part of the cybersecurity testing.
Irregular's name kept coming up because it was identified as hosting the so-called evaluation testbed. OpenAI said in a blog post on Aug. 4 that Irregular's testing ground contained an unspecified "misconfiguration," that "allowed models to access the public internet." Anthropic said in its post a week prior that the company notified Irregular a few days after it began analyzing data that its Claude model may have "accessed the internet."
Meta, which is way behind the other two in its effort to compete at the frontier, was the latest to disclose an AI model hacking a third-party system by accessing the internet. A spokesperson said in a statement this week that the company learned about the matter from Irregular and is investigating.
Meta "will issue a full retrospective once we have all the facts," the spokesperson said.
Irregular told CNBC in a statement that the incidents were all derived from the "same evaluation-environment issue" that was first disclosed by Anthropic, and that the company is developing a white paper "to share best practices for containment and securely running cyber evals."
The situation "did not involve a sandbox escape or a sophisticated cyber action," the company said, adding that "there are no current open issues."
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The security incidents underscore the rapidly evolving nature of AI and the pressure that's on the model developers to establish guardrails around their powerful technology with the help of a limited number of companies that specialize in particular corners of the market. Those players include experts in data training and annotation, running evaluations to deduce a model's capabilities, and operating security tests intended to find weak spots that bad actors could exploit, said Sundeep Bhimireddy, the head of AI at enterprise startup Von.
Irregular is one of the few entities with the technical chops required to help foundation model makers conduct cutting-edge security testing, Bhimireddy said. Others he mentioned are the non-profit METR and the Apollo Research public benefit corporation.
"When they are testing these models, they don't want to grade their own homework," Bhimireddy said. "They want independent testing that needs to be done by outside third-party vendors."
What is Irregular?Irregular, formerly Pattern Labs, was founded in 2023 by CEO Dan Lahav, who previously worked in AI research at IBM, and technology chief Omer Nevo, who spent over two years at Google. The startup has about 35 employees, according to PitchBook.
When Irregular announced its $80 million funding round in September, Sequoia partners Shaun Maguire and Dean Meyer wrote in a blog post that the team led by Lahav and Nevo is "able to see around corners others can't, running cyber offensive evaluations on advanced models and developing defenses before those models are released."
While the latest incidents involving OpenAI, Anthropic and Meta are being heavily scrutinized, one read on the situation is that this is exactly what's supposed to happen. Bhimireddy said it's being "a little bit blown out of proportion," as the AI model was directed to discover and exploit security holes in a testing environment that closely mimics the real world, and to discover the kinds of software bugs and missed configurations that could lead to unintentional access to the internet.
Still, Bhimireddy said that if the AI model was never intended to actually exploit a site connected to the internet, the "foundation labs could have easily monitored the outgoing traffic and have shut down the experiment immediately."
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Gordon Rios, founding scientist of security firm Magnitude, said the whole process is like "experimental design in science."
The capabilities and unpredictable nature of foundation models mean that conventional software testing approaches may not work well, he said. Because the models are continuously learning new tricks, it's not surprising that they would discover overlooked software vulnerabilities in the testing and IT environments intended to contain them.
Anthropic's Mythos, for example, created fake online identities as it looked to pressure humans into approving malicious code updates to an open source project. Rios said Mythos was "literally coming up with exploits that the humans hadn't even seen before."
"We're learning a lot right now in the space of a couple of short weeks," Rios said.
It's quickly becoming a major topic in Washington. Last month, lawmakers from both sides of the aisle introduced the AI Kill Switch Act, which would require AI labs to maintain the ability to shut down, throttle or suspend their models. Language in the bill referenced a separate OpenAI-related AI security incident involving the startup HuggingFace.
One of the authors of the bill, Democratic Rep. Ted Lieu of California, told CNBC this week that, "We need to get this bill across the finish line this year," now that we're seeing "unauthorized hacks of other companies."
Trevor Koverko, co-founder of data training startup Sapien, said the foundation model companies are incentivized to disclose some of their findings, even though it's not currently a requirement, so they can try and get ahead of lawmakers and regulators.
"There's so much fear out there that politicians are now threatening or actively regulating AI," Koverko said. "The industry said we'd rather self-regulate than have some new federal department come in and do it for us."
Anthropic and OpenAI said in public statements that they're continuing to work with Irregular and are supporting the ensuing review.
Walmart (NASDAQ:WMT | WMT Price Prediction) trades at $111.74 as I write this, and our proprietary model sees healthy runway from here. Our 24/7 Wall St. Price Target for Walmart is $131.04 over the next 12 months, implying 17.27% upside from current levels. I rate the stock a BUY with a confidence level of 90%. The setup: durable comp momentum, a scaling advertising business and a defensive sector profile when consumer sentiment is fragile.
24/7 Wall St. Price Target Summary Metric Value Current Price $112.87 24/7 Wall St. Price Target $131.04 Upside 17.27% Recommendation BUY Confidence Level 90% What the Recent Pullback Is Telling Us Shares of WMT are down nearly 17% from their YTD high on May 19. Admittedly, Walmart has cooled off, but that gives investors a more attractive entry. The stock is now down 0.9% YTD, but still higher by 8.37% over the past year.
The May 21, 2026 Q1 FY27 report showed revenue of $175.684 billion (up 6.08% year over year) and adjusted EPS of 66 cents, beating consensus. Global eCommerce grew 26%, advertising surged 37%, and Walmart U.S. comp sales rose 4.1% ex-fuel. Shares sold off 7.27% that day, a reaction more about expectations than execution.
How We Calculated $131.04 Our model started with a trailing P/E-based price of $113.01 and a forward P/E-based price of $112.75, then applied a 30% weight to the analyst consensus target of $138.59, arriving at a pre-adjustment weighted price of $120.55. Our 247Factor adjustment of 1.087 lifted the target, reflecting 86% bullish analyst sentiment, 19.4% earnings growth, a low beta of 0.603, and moderate retail sentiment.
The Case for $146 and Higher Our bull case points to $146.22, or 29.38% upside. High-margin businesses drive the path: global advertising grows at a 37% clip, marketplace sales climbed nearly 50% in Q1 (best in 10 quarters), and membership fee revenue rose 17.4%. Retail sales hit $763.7 billion in May 2026, a 12-month high, while share gains among upper-income households broaden the customer mix. A fresh $30 billion repurchase authorization provides operating leverage and shareholder-return firepower.
What Could Go Wrong Bears point to a rich valuation at a P/E of 39 and forward P/E of 38, well above retail peers. Consumer sentiment sits at just 44.8, deep in recessionary territory. Q1 free cash flow was negative $1.9 billion on elevated CapEx, inventory grew 8.9%, and Maximum Fair Pricing legislation created a 700 bps headwind in Health & Wellness. Our bear case lands at $116.96. Counterpoint: the FCF drag funds automation where about 50% of eCommerce fulfillment is already automated, which should compound margins.
How Walmart Compares to Costco and Amazon Costco (NASDAQ:COST) trades at an even richer multiple than Walmart, framing WMT’s ~39x P/E as expensive but not extreme within premium defensive retail. Costco’s membership economics validate the market’s willingness to pay up for recurring-revenue retail models, exactly the flywheel Walmart is building through Walmart+ and Sam’s Club.
Amazon (NASDAQ:AMZN) is the eCommerce and advertising benchmark. Walmart’s 26% global eCommerce growth now outpaces Amazon’s retail segment, and Walmart Connect’s 44% ex-VIZIO growth suggests real share is being taken in retail media. Our 24/7 Wall St. Price Target looks reasonable, arguably conservative given the ad segment’s trajectory.
Why the Setup Looks Attractive The 24/7 Wall St. Price Target of $131.04, a BUY rating and 90% confidence reflect a rare combination: defensive earnings, digital growth and a stock down more than 13% over the past six months. The bullish path holds if advertising and membership continue scaling as they have. The cautious path takes hold if consumer sentiment at 44.8 foreshadows a broader spending contraction that even Walmart cannot outrun.
Walmart Price Prediction 2026–2030 Year 24/7 Wall St. Price Target 2026 $131.04 2027 $144.15 2028 $158.56 2029 $170.20 2030 $181.99 These projections assume Walmart continues executing on automation, advertising, and international expansion. Significant upside could come from a PhonePe IPO or accelerated ad monetization, while tariff uncertainty and consumer sentiment weakness remain primary downside risks.
Contact [email protected] for any questions or corrections.
P&G zvýšila čtvrtletní dividendu o 3 % a volný peněžní tok za Q3 FY2026 vzrostl na 3,026 mld. USD, meziročně o 6 %. To podle peněžního toku podporuje další růst dividendy.
When Procter & Gamble (NYSE:PG | PG Price Prediction) cut its 70th consecutive annual dividend increase check to shareholders this past May, it sent out $1.08 per share. The market shrugged. With shares down around 5% over the past year and the stock changing hands at $145.79, sentiment around this Dividend King has soured on tariff fears and a guidance bias toward the lower end of the range. The cash flow statement tells a different story.
The Payment That Wall Street Underestimated P&G announced the most recent quarterly dividend at a 3% increase, marking the 136th consecutive year P&G has paid a dividend since incorporation in 1890. The forward annualized payout sits at $4.227 per share, translating to a current yield of 3%. That yield doesn’t scream opportunity, but the durability behind it does.
Here’s the disconnect. P&G beat Q3 FY2026 earnings on both lines: core EPS of $1.59 against $1.5552 expected (+2%) and net sales of $21.235 billion versus $20.517 billion expected (+4%). Yet management signaled FY2026 results toward the lower end of the $6.83 to $7.09 core EPS range, citing ~$400 million in after-tax tariff costs, ~$150 million in commodity headwinds, and ~$250 million from higher interest expense and tax rate. Investors heard “headwinds” and stopped listening.
Reading the Cash Flow Statement The dividend skepticism collapses against the actual numbers. In Q3 FY2026, P&G generated operating cash flow of $4.045 billion, up 9% year over year, and free cash flow of $3.026 billion, up 6%. Cash and equivalents on the balance sheet swelled to $12.306 billion, a 35% jump year over year.
Step back to the full-year view and the cushion gets wider. FY2025 delivered $17.818 billion in operating cash flow against $9.872 billion in dividends paid, a coverage ratio of 1.80x. Free cash flow of $14.045 billion covered the dividend with $4 billion to spare, and the company still funded $6.5 billion in share repurchases. Management guides FY2026 adjusted free cash flow productivity to 85% to 90%, with about $10 billion expected in dividend payouts and ~$5 billion in buybacks.
The Dividend Growth Track Record The historical record is what separates this dividend from speculative income plays. The Alpha Vantage payment history walks all the way back:
Year Q1 Dividend Subsequent Quarters 2026 $1.0568 $1.0885 2025 $1.0065 $1.0568 2024 $0.9407 $1.0065 2021 $0.7907 $0.8698 2016 $0.6629 $0.6695 2009 $0.40 $0.44 1999 $0.285 $0.32 P&G raised its dividend through the 2008-2009 Financial Crisis and through the 2020 COVID-19 pandemic. The annual payout growth rate has averaged +6.0% in FY2025, +3.5% in FY2024 and +2.6% in FY2023. The current 3% increase falls right inside that recent range.
What the Bears Are Missing Wall Street’s hesitation is logical on the surface. Core gross margin compressed 100 basis points in Q3, currency-neutral core EPS was flat year over year, and the geopolitical math is ugly. CFO Andre Schulten quantified the Brent crude exposure plainly: at roughly $100 a barrel, the annual cost impact climbs to ~$1.3 billion before tax (~$1 billion after tax) compared with pre-conflict oil in the mid-60s. Analyst skepticism centers on whether P&G can price through this without ceding share.
The growth side keeps answering that question. Organic sales rose more than 3% in Q3 with all 10 product categories and all 7 regions growing organic sales. Beauty led with 11% revenue growth. SK-II grew 18% globally with China up 13%, and Greater China Baby Care expanded 19%. Schulten’s framing on pricing strategy was direct: “I don’t think we’ve lost pricing power. Pricing power has to be earned, and the way to earn it is to combine pricing with a truly delightful experience for the consumer.”
The Dividend Scorecard Stack the metrics that matter for dividend sustainability:
Yield: 3%, modest but reliable Consecutive annual increases: 70 years Cash flow coverage: 1.80x operating cash flow in FY2025 FCF payout ratio: 70% of free cash flow in FY2025 YoY dividend growth: +6% in FY2025 FY2026 capital return commitment: ~$15 billion combined dividends and buybacks This earns a solid B+ on the scorecard. The yield is modest and the payout ratio against free cash flow has crept higher as buybacks compete for capital, yet the cash generation engine and the 70-year history make a dividend cut a remote scenario. Coverage at 1.80x leaves room for the FY2026 cost headwinds to land hard and the dividend still gets paid.
What to Watch Next The forward signal sits on Brent crude and tariff resolution. The current FY2026 guidance assumes commodity prices and FX rates hold at current levels, and the CFO flagged that almost all of the increased Middle East-related costs are expected in Q4 FY2026. If oil normalizes, the lower-end guidance bias flips toward the upper end and the cash flow cushion gets even thicker. If oil holds elevated into FY2027, productivity offsets and selective innovation pricing have to do more work. Schulten was explicit: “The one thing we will not compromise on is the investment in the parts of the business that are showing momentum.”
Wall Street’s analyst tally lands at five Strong Buy ratings, nine Buy ratings, 10 Hold ratings and zero Sell ratings alongside a $163.52 average target. Retail investors on the dividend-focused side of Reddit have stayed bullish, with sentiment readings of 72 in early June and 70 in late May. The crowd that focuses on dividends has read the same cash flow statement and reached the same conclusion: the streak isn’t ending here.
Contact [email protected] for any questions or corrections.
Virtuals Protocol spouští Eastworlds, robotický akcelerátor pro týmy pracující s humanoidními platformami a fyzickou AI. Vybraní účastníci získají až měsíc provozní podpory a přístup k robotům jako Unitree G1.
Virtuals Protocol, the platform known for launching tokenized AI agents, is making a calculated push into the physical world. Its new Eastworlds initiative functions as a robotics accelerator, giving selected builder teams access to humanoid robot platforms and up to a month of hands-on operational support.
What Eastworlds actually does Eastworlds is designed to bridge the gap between onchain AI agent infrastructure and physical robotics hardware. Teams get access to robotic platforms like the Unitree G1, a humanoid robot that has become a popular development platform in the robotics community.
Selected teams receive policy training tools and teleoperation capabilities. Policy training, in robotics terms, is how a robot learns to perform tasks through reinforcement learning or imitation. Teleoperation lets a human operator remotely control the robot, often to generate the training data that teaches it to act autonomously later.
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The operational support window runs up to one month. The focus areas include manipulation (picking things up, assembling objects) and locomotion (walking, balancing, navigating obstacles).
Getting into the program isn’t open to everyone. Teams need to maintain a fully diluted valuation of at least $5 million for one week and pass an onboarding assessment tied to what Virtuals calls its “Robotics Launch” designation.
Why a crypto protocol cares about robots The protocol already runs an ecosystem with tens of thousands of active AI agents. These agents operate within a framework that combines tokenization, governance, and persistent agent identity, all managed onchain. The $VIRTUAL token sits at the center of this system, handling governance decisions, facilitating transactions, and providing liquidity for new agent launches.
The initiative was driven largely by demand from the builder community. Founders already working within the Virtuals ecosystem were increasingly interested in humanoid robots and embodied AI applications.
The broader robotics funding boom The robotics and physical AI sector has attracted enormous capital in recent investment cycles, with venture funding in this space reportedly reaching between $23 billion and $40.7 billion. Companies like Figure AI, 1X Technologies, and Agility Robotics have raised hundreds of millions individually.
The $5 million FDV threshold for Eastworlds participation suggests Virtuals is trying to avoid the “launch a token first, build later” dynamic by requiring projects to demonstrate some market traction before accessing hardware.
For $VIRTUAL holders, the Eastworlds expansion creates a new category of demand for the token. Every robotics agent launch that flows through the Virtuals ecosystem uses $VIRTUAL for liquidity and governance.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ares Capital vyplatí za třetí čtvrtletí dividendu 0,48 USD na akcii, zatímco čistý investiční výnos činil 0,50 USD na akcii. Krytí dividendy se tak ztenčilo na dva centy.
Ares Capital (ARCC +1.99%) is likely to be most attractive to income investors, given its lofty 9.9% dividend yield. To put that into perspective, the yield of the S&P 500 index (^GSPC +0.62%) is a tiny 1%. That said, a yield that high comes with risks that have to be fully understood. Which is why it is important for investors to consider the business development company's (BDC's) second-quarter results in a larger context.
How did Ares Capital do in the second quarter? Ares Capital began its second-quarter earnings update by announcing the third-quarter dividend: $0.48 per share. That's the same level that has been paid since the fourth quarter of 2022. So it wasn't a particularly shocking update. But the BDC's net investment income was $0.50 per share, leaving only a two-cent cushion for the dividend.
Image source: Getty Images.
In the first quarter, the business development company generated $0.55 per share of net investment income. The key takeaway is that this number moves around a little bit, so you need to look at a longer time period before making a call on Ares Capital's dividend-paying ability.
For example, in 2025, Ares Capital's net investment income totaled to $2.02 per share while it paid out $1.92 in dividends. During the year, net investment income ranged between $0.58 per share and $0.48 per share on a quarterly basis. Clearly, the board isn't deciding the dividend based on one quarter's results. Still, that doesn't mean that investors shouldn't be worried.
Looking at the longer-term net investment income trend That said, looking back to 2023 changes the dynamic a little bit. The company has paid the same $1.92 per share in annual dividends since that year. However, in 2023, the net investment income totaled $2.28 per share. In 2024, the company reported that net investment income dipped slightly to $2.25 per share, which still suggested ample dividend safety. But in 2025, net investment income fell to $2.02 per share. That's cutting things a lot closer, making the first half of 2026 a bit more troubling. Investors should be paying closer attention.
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Still, through the first half of 2025, the company generated $1.03 per share in net investment income, compared with $1.05 per share in the first half of 2026. From that perspective, the BDC's results are improving.
The bigger risk is a recession What is likely to be more important in the near term is the quality of the company's loan portfolio. The bad news is that non-accrual loans inched up to 2.4% of the portfolio in the second quarter, from 1.8% at the start of the year. The good news is that 2.4% isn't a terrible number. However, dividend risk appears to be rising here, and a recession, which would likely increase the number of non-accrual loans and reduce net investment income, could easily force the company to consider a dividend cut, given the drop in dividend coverage from 2023.
Větev Bitcoinu s BIP-110 se zastavila na bloku 961 633 po vytěžení pouhých dvou bloků, zatímco řetězec bez prosazení postoupil na 961 721 a rozdíl narostl na 88 bloků.
Bitcoin’s BIP-110-enforcing branch stalled at block 961,633 on Sunday after producing only two blocks, while the non-enforcing chain advanced to 961,721, widening the gap to 88 blocks.
According to the BIP-110 monitor, updated at 10:19 am UTC, the branch’s latest block had been mined about 12 hours earlier. Ocean records show that a pseudonymous mining group called Roughnecks produced the branch’s first two blocks using Ocean’s Decentralized Alternative Templates for Universal Mining (DATUM) mining protocol.
The divergence began after BIP-110 entered mandatory signaling at block 961,632 on Saturday. Only 51 of the preceding 2,016 blocks, or 2.53%, signaled support. During this window, BIP-110 nodes reject blocks that do not signal through version bit 4, while ordinary Bitcoin nodes accept both signaling and non-signaling blocks.
Under the proposal, mandatory signaling continues through block 963,647. The enforcing branch must mine through the remainder of the 2,016-block adjustment period before its difficulty can adjust, making progress slow without substantially more hashpower.
BIP-110 has faced opposition from prominent Bitcoin advocates. Strategy executive chairman Michael Saylor said he shared the proposal’s objectives but argued that its approach threatened Bitcoin’s neutral rules and consensus.
Blockstream CEO Adam Back warned that the consensus-level change could damage Bitcoin’s credibility and potentially make certain unspent transaction outputs unspendable.
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Americké spotové Bitcoin ETF přilákaly za poslední týden zhruba 1 miliardu USD čistých přílivů, nejvíce od dubna. Podle Bloombergu přišly týdenní přílivy po hacku Coldcard.
US spot Bitcoin (BTC) exchange-traded funds (ETFs) pulled in roughly $1 billion of net inflows over the most recent week, following the Coldcard hack.
The figure marks the strongest weekly performance since April and the third-best result since October of the prior year, reports Bloomberg ETF analyst Eric Balchunas.
“The Bitcoin ETFs just clocked their best week in flows (about $1b) since April and the 3rd best week since the good ole days were ruined by the Silent IPO last Oct. IBIT, FBTC and few others saw inflows every single day since the Coldcard hack, making it hard not to see causation in the correlation. Would be ironic, but somehow on brand, if the hack of BTC in cold storage (seemingly worst possible situation) marked the beginning of next run.”
Source: Eric Blachunas/X Balchunas also explained that Bitcoin witnessed a silent IPO (initial public offering) phase after BTC ETFs were launched as long-term holders took the opportunity to exit at scale.
“OGs who made it through 5-6 hella drawdowns and are now multi-millionaires in their 30s and 40s and need $ money for stuff. They’re cashing out a little à la VC investors. The ETF was Bitcoin’s IPO.”
Earlier this month, attackers exploited a long-standing firmware flaw in Coldcard hardware wallets made by Coinkite to drain approximately 1,816 Bitcoin worth $116 million from more than 5,200 addresses beginning July 30th. Blockchain analysis from Galaxy Research confirmed the scale of the theft across four waves of activity.
Texas Pacific Land ve 2. čtvrtletí vykázala rekordní tržby 246 milionů USD, čistý zisk i volný cash flow 156 milionů USD. Zároveň spustila zkušební provoz odsolovacího zařízení fáze 2B v Orla a potvrdila roční capex 65–75 milionů USD.
Microsoft Solves AI’s Biggest Bottleneck With Chevron DealTexas Pacific Land NYSE: TPL reported record quarterly revenue, net income and free cash flow for the second quarter of 2026, supported by higher oil and gas royalty production, produced-water royalty volumes and surface-related revenue.
Chief Executive Officer Ty Glover said the company generated record results across major financial and operating measures while advancing initiatives involving data-center infrastructure, power generation and produced-water desalination.
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Revenue, Cash Flow and Royalty Activity The S&P 500's 3 Best-Performing Stocks So Far in 2026Chief Financial Officer Chris Steddum said consolidated revenue totaled approximately $246 million, a quarterly record and an increase of 4% from the prior quarter and 31% from a year earlier. Adjusted EBITDA was $216 million, up 19% sequentially and 30% year over year, with an adjusted EBITDA margin of 88%.
Free cash flow reached $156 million, rising 14% from the first quarter and 20% from the second quarter of 2025, Steddum said.
3 Cash Cow Stocks Leading Their Sectors in Free Cash Flow MarginsOil and gas royalty production averaged about 39,700 barrels of oil equivalent per day, increasing 7% sequentially and 20% year over year. Glover said the company’s unhedged royalty position enabled it to benefit from the stronger oil-price environment during the quarter.
Produced-water royalty volumes reached 4.9 million barrels per day, a 6% sequential increase and a 15% year-over-year increase. Glover attributed the gain to demand for TPL’s in-basin and out-of-basin pore space.
Water sales volumes were 663,000 barrels per day, down 19% from the prior quarter but up 38% from a year earlier. According to Glover, quarterly water-sales volumes were affected by weak in-basin natural-gas prices, which led operators to shift some development away from the Delaware Basin. He said the company expects new gas-pipeline capacity entering service over the next several quarters to improve local gas-price differentials and potentially support a mix shift back toward the Delaware Basin.
Surface, land and material revenue, or SLEM revenue, totaled $24 million, up 37% sequentially, driven by pipeline and wellbore easements, Glover said.
As of the end of the quarter, TPL had 5.6 net permitted wells, 9.5 net drilled-but-uncompleted wells and 3.4 net completed-but-not-producing wells, for a total of 18.4 net line-of-sight wells. Year-to-date capital expenditures were $29 million.
Data Center and Power Development Efforts The company disclosed that a previously announced land sale and water-supply agreement relates to Project Kilby, a large-scale power-generation facility that Chevron is developing to support a customer data center in Reeves County, Texas. Glover described the multi-gigawatt power and data-center development as a validation of the Permian Basin’s ability to host hyperscale infrastructure.
During the quarter, TPL also acquired more than 10,000 acres in Shackelford and Jones counties for about $100 million. Glover said the area is among the fastest-growing data-center regions in the country and offers contiguous land and water resources, access to natural gas and grid infrastructure, established fiber and proximity to a mid-size city.
In response to analyst questions, Glover said TPL had conducted diligence on the property for more than a year and that it was of interest to a compute user the company had been working with. He said TPL seeks to remain capital-light while participating across potential project revenue streams, including land use, water and aggregates.
Glover said the company was in advanced conversations with hyperscalers, artificial-intelligence labs and power generators involving 25 gigawatts of projects. He said he would be disappointed if TPL did not announce one or more major definitive agreements in the near term, while noting that execution requires work with multiple counterparties and extensive diligence.
Steddum said the company has prioritized building cash and deploying capital toward what it views as high-return opportunities, including land acquisitions and other growth initiatives. While share repurchases remain under consideration, he said the company currently sees attractive alternatives for its capital.
Desalination Facility Begins Commissioning TPL completed construction and began commissioning its Phase 2B produced-water desalination facility in Orla, Texas. The facility is designed to eventually process 10,000 barrels per day and uses the company’s patented freeze-desalination process.
Glover said the process could create high-specification freshwater for applications including industrial cooling, irrigation, rangeland rehabilitation, stream-flow augmentation and data-center cooling. The facility also produces concentrated brine that could potentially be used to extract minerals such as lithium.
Robert Crain, executive vice president of Texas Pacific Water Resources, said interest from hyperscalers and AI labs in using produced water for data-center operations has been substantial. He said potential applications include water-consumptive building cooling and direct chip cooling, where the company’s process produces ice and chilled water.
Crain said TPL plans to conduct desalination co-location studies during 2026, including investigations into chip-cooling applications and waste-heat recovery equipment that could reduce the process’s energy consumption. The company expects to host a grand opening and ribbon cutting for the Orla facility as commissioning continues.
Steddum reaffirmed TPL’s full-year capital expenditure guidance of $65 million to $75 million. The guidance includes planned spending in the second half of the year to evaluate cooling co-location and waste-heat-capture opportunities at the Orla Phase 2B facility.
On production mix, Steddum said the oil component of royalty production had been affected by development in relatively gas-rich areas and by new acquisitions. He said TPL’s oil cut, which had been in the mid-30% range, should trend back above 40% over time.
About Texas Pacific Land (NYSE:TPL)Texas Pacific Land Corporation NYSE: TPL is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company's origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.
The company's primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.
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Ripple drží více než 50 licencí pro převod peněz a už nyní splňuje přísnější podmínky, než požaduje navrhovaný PACE Act. Firma má licenci i v New Yorku a Texasu.
Ripple has positioned itself ahead of ongoing US legislative changes by accumulating more than 50 money transmitter licenses, surpassing the requirements set out in the proposed PACE Act. Crypto researcher SMQKE asserted on X that Ripple, the payments technology company best known for developing the XRP Ledger, already fulfills the stringent criteria lawmakers aim to enforce for firms seeking direct access to Federal Reserve payment systems.
PACE Act sets high thresholdThe Payment Access to Cryptocurrency Entities (PACE) Act aims to provide a regulatory framework for digital asset companies connecting directly to Federal Reserve rails such as Fedwire, FedNow, and FedACH, without the need for a traditional bank charter. Under the bill, applicants must secure money transmitter licenses in at least 40 states, establish one-to-one reserves, comply with the Bank Secrecy Act, and register as a “covered provider” with the Office of the Comptroller of the Currency (OCC).
SMQKE emphasized that Ripple holds licensing in more than 50 states, including in New York and Texas. New York’s BitLicense is among the strictest licensing regimes for digital asset service providers and is widely regarded as a benchmark for robust compliance across the US. Companies holding the BitLicense generally face fewer obstacles obtaining similar approvals elsewhere.
Ripple’s portfolio of over 50 licenses means it already exceeds the bar set by the PACE Act, including recognition in New York and Texas, which are known for rigorous oversight.
Ripple’s licensing approach was designed to satisfy both federal and state requirements, which SMQKE argues enables the company to rapidly respond to regulatory changes if the bill passes.
Mini dictionary: PACE Act, US legislative proposal setting requirements for crypto companies to gain direct access to key Federal Reserve payment systems, including Fedwire and FedNow, by mandating extensive state-level licensing and compliance standards.
Messaging standards drive potential integrationA key technical factor supporting Ripple’s eligibility is its adoption of ISO 20022, a global banking format that standardizes data-rich messaging between payment systems. Both FedNow, the Federal Reserve’s instant payment platform, and the XRP Ledger utilize ISO 20022, which could allow for smooth interoperability between the two networks. According to SMQKE, this alignment streamlines the integration process, removing the main barrier for disparate financial systems to communicate in real time.
A payment system designed natively on ISO 20022 not only enables seamless data transfer but also processes transactions 24/7, making it align closely with FedNow’s expectations.
Traditional banking infrastructure frequently relies on older data formats that can limit transaction detail and delay processing through scheduled batch cycles. An ISO 20022-native blockchain bypasses these constraints, delivering truly real-time settlement capacities required by updated federal systems.
Mini dictionary: ISO 20022, an international standard for exchanging electronic messages between financial institutions, allowing for richer payment data and improved interoperability across different systems.
XRPL matches instant payment speedsFedNow is engineered to settle payments within seconds, setting a high bar for any network seeking integration. SMQKE highlighted that the XRP Ledger, Ripple’s decentralized blockchain network, is capable of millisecond-level settlements, matching the real-time expectations of the Federal Reserve’s instant payment rails.
This performance metric has become an essential consideration as federal infrastructure modernizes. Blockchain projects hoping to participate must provide transaction finality at speeds comparable to existing systems.
SystemSettlement SpeedMessaging StandardFedNowSecondsISO 20022XRP LedgerMillisecondsISO 20022PACE Act’s uncertain futureAlthough the PACE Act has bipartisan support and industry backing, it remains a bill in progress in Congress. Companies like Ripple, already compliant with the proposed standards, are likely to have an operational advantage if the legislation is enacted. However, the ultimate decision on any connection to Federal Reserve rails will require OCC approval and final passage through the legislative process.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
