Track market-moving stories before they get noisy

Shares are approaching their 52-week high as CEO Josh D'Amaro pursues growth. Reported layoffs would add another element to the turnaround.

AI data center stocks are staging a sharp morning rebound, but with massive debt loads, a revenue miss, and a potential lease catalyst drought looming, the real question is whether today's bounce has any staying power.

Former bitcoin miners that now host AI data centers are rallying, and Cipher Digital (NASDAQ:CIFR) is near the front of the pack. Cipher Digital stock is at $7.63, up 11% in morning trading from a prior close of $6.86. The bounce comes after a sharp decline, with the stock down 51% over the past month and 48% year to date (YTD).

IREN (NASDAQ:IREN) stock is at $24.13, up 10%, after a 42% one-month drop. Meanwhile, TeraWulf (NASDAQ:WULF) stock is at $11.93, up 9%, after Keefe Bruyette’s sector target cuts. Its 23% one-month decline was far smaller than Cipher Digital’s and IREN’s. At the same time, Riot Platforms (NASDAQ:RIOT | RIOT Price Prediction) stock is at $13.28, up 12%, a slightly bigger gain than Cipher Digital’s.

J.P. Morgan Stays Bullish on Cipher Digital Despite a Lower Target J.P. Morgan analyst Richard Choe cut his price target on Cipher Digital to $18 from $22 on November 3 and kept his Overweight rating. That vote of confidence comes after the stock had already fallen sharply from its June high.

Wells Fargo took a harder line, cutting its Cipher Digital target to $15 from $25. Keefe Bruyette lowered its own target on Cipher Digital to $11 from $28 on November 2 but kept its Outperform rating. That cut was part of a price-target revision across the whole group.

Tyler Page leads Cipher Digital. The CEO has described the strategy as “building expressways for AI” and “charging a long-term toll.” Long leases with large tenants are the heart of that plan, and they give the company years of contracted rent once each building is delivered.

Cipher Digital’s Quarter Shows a Business Mid-Pivot On November 2, Cipher Digital disclosed that its Q3 2026 revenue came in at $26.7 million, missing the $37.5 million consensus estimate compiled by Koyfin. Shrinking bitcoin mining revenue drove the miss. Cipher Digital booked its first high-performance computing (HPC) lease revenue of $5.9 million as rent began at its Black Pearl campus.

Across three campuses, Cipher Digital holds $16.6 billion of contracted revenue. Barber Lake accounts for about $9.1 billion of that, and Cipher Digital expects first capacity there in Q4 2026.

Heavy borrowing is the trade-off. Total debt at Cipher Digital stands at $6.7 billion. Keefe Bruyette has warned of a possible “lease catalyst drought” through early 2027, which could leave the stock without fresh deal news for months.

How Cipher Digital’s Landlord Model Stacks Up Against IREN and TeraWulf Cipher Digital finds land and power, finances each project on its own and leases the finished space to hyperscalers and AI labs under long-term colocation agreements. IREN runs a vertically integrated AI cloud, owning the GPUs and selling computing power directly to hyperscalers, enterprises and AI developers. TeraWulf’s approach is closer to Cipher Digital’s, matching sites with cheap power and long leases backed by strong credit. That leaves IREN with more hardware and operating risk, while Cipher Digital’s results depend on finishing buildings on schedule. The power, cooling, and networking suppliers sitting behind all of this rarely get the same attention as the chipmakers, which is why we highlighted seven such suppliers in a free AI infrastructure report.

Riot, IREN and TeraWulf Head Into Earnings Week Riot reports on November 4, and IREN follows on November 5. Keefe Bruyette cut its price target on Riot to $20 from $35 in the same revision that hit Cipher Digital.

Later this week, TeraWulf has its own earnings report due. TeraWulf holds a 20-year lease with Anthropic at its Justified campus in Kentucky. Each report offers a read on whether signed leases across the group turn into rent on schedule, which matters directly for Cipher Digital.

What Comes Next for Cipher Digital’s Rebound AI infrastructure stocks are bouncing generally after a turbulent prior session, and Cipher Digital is moving with the group. Earnings from Advanced Micro Devices (NASDAQ:AMD) and the midterm elections are also in focus for the sector. Cipher Digital now faces the question of whether Barber Lake delivers its first capacity in Q4 as planned.

Final Electric Reliability Council of Texas (ERCOT) Batch Zero classifications, expected in December, could shape how quickly Cipher Digital signs new leases. The bull case rests on J.P. Morgan’s Overweight rating and a large base of contracted rent. The bears counter that heavy debt, a revenue miss and a possible lull in new leases could cap the stock’s gains. It may be wise to stay cautious until Cipher Digital’s Barber Lake delivery is finalized.

Contact [email protected] for any questions or corrections.

Exxon Mobil Holdings (XOM - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this oil and natural gas company have returned +9.6%, compared to the Zacks S&P 500 composite's -2.3% change. During this period, the Zacks Oil and Gas - Integrated - International industry, which Exxon falls in, has gained 8.1%. The key question now is: What could be the stock's future direction?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Exxon is expected to post earnings of $3.94 per share, indicating a change of +130.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +4.8% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $13.27 points to a change of +89.8% from the prior year. Over the last 30 days, this estimate has changed +5.7%.

For the next fiscal year, the consensus earnings estimate of $12.61 indicates a change of -4.9% from what Exxon is expected to report a year ago. Over the past month, the estimate has changed +4.4%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Exxon.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Exxon, the consensus sales estimate of $108.58 billion for the current quarter points to a year-over-year change of +31.9%. The $417.09 billion and $411.95 billion estimates for the current and next fiscal years indicate changes of +25.5% and -1.2%, respectively.

Last Reported Results and Surprise HistoryExxon reported revenues of $113.16 billion in the last reported quarter, representing a year-over-year change of +32.7%. EPS of $4.23 for the same period compares with $1.88 a year ago.

Compared to the Zacks Consensus Estimate of $102.98 billion, the reported revenues represent a surprise of +9.89%. The EPS surprise was +8.46%.

Over the last four quarters, Exxon surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Exxon is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Exxon. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Key Takeaways ExxonMobil's 8.59x EV/EBITDA exceeds the industry average of 6.66x.High oil prices and Permian drilling advancements support XOM's growth.Refinery upgrades and over $9 billion in debt reduction strengthen ExxonMobil. ExxonMobil Holdings Corporation (XOM - Free Report) stock is trading at an 8.59x trailing 12-month Enterprise Value to Earnings Before Interest, Taxes, Depreciation and Amortization (EV/EBITDA), which is a premium compared with the broader industry average of 6.66x. BP plc (BP - Free Report) and Chevron (CVX - Free Report) , belonging to the same space, are trading at 2.69x and 7.36x, respectively.

Image Source: Zacks Investment Research

Is it worth buying XOM at a premium price right away? To find out, let’s delve into the business fundamentals and the overall crude pricing environment as the integrated energy giant generates the king size of its earnings from upstream operations.

Oil Price May Remain High: Boon for XOM’s Operations?West Texas Intermediate (“WTI”) crude is trading at more than $98 per barrel. The high prices are being driven by intensifying conflicts in the Middle East. The U.S. Energy Information Administration in its latest short-term energy outlook projected WTI at $88.21 per barrel this year, higher than $65.40 last year. A highly favorable oil pricing environment is likely to continue supporting ExxonMobil’s exploration and production activities, similar to BP and Chevron.

Image Source: The U.S. Energy Information Administration

The company has a massive footprint in the Permian, the most prolific oil and gas play in the United States, and offshore Guyana. In the Permian, the integrated giant has been employing new drilling techniques and artificial intelligence to boost and optimize production volumes at lower cost structures. On its third-quarter 2026 call, the integrated major mentioned that in the prolific basin it is now operating three automated drilling rigs, and planning to increase the count to 25% of the total fleet in the basin next year. By 2028, ExxonMobil is planning to boost the proportion to 50%, to further lower its cost structures amid technological advancements.

Refining Efficiency and Financial Flexibility Strengthen XOMConsidering its downstream business, ExxonMobil's investments in upgrading its U.S. refineries should help the company produce more high-value fuels, particularly diesel. By making better use of existing facilities, XOM can expand output without the high costs of building new refineries. These improvements are expected to support stronger profit margins and cash flow over the long term.

Moreover, XOM has a strong balance sheet, on which it could rely when the business environment turns unfavorable. During the September quarter of this year, the company lowered its debt by more than $9 billion.

Time to Bet on XOM?Considering the price chart, ExxonMobil has jumped 57.6% over the past year, outpacing the industry’s 57.3% growth. BP and Chevron have gained 36.3% and 48.8%, respectively, over the same period.

Image Source: Zacks Investment Research

With the outperformance, XOM stock is currently pricey. But it is worth paying the premium since the outlook for the company’s overall business environment seems bright. Hence, investors should bet on the stock, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.82% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: General Motors (GM - Free Report) One of the world’s largest automakers, General Motors held the largest share of the U.S. auto market at 16.5% in 2024. Headquartered in Detroit, the auto giant has had a long and checkered history. Founded in 1908, the company rose to dominate the U.S. industry. However, hit by the financial crisis, General Motors filed for bankruptcy on Jun 1, 2009. Just within 40 days, the firm emerged from bankruptcy. In 2010, the company launched its IPO – the biggest in U.S. history at that time – and has been steadily profitable since then. From going bankrupt in 2009 to becoming one of the world’s best-run car companies, General Motors has indeed come a long way.

GM is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 6.72; value investors should take notice.

For fiscal 2026, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $13.38 per share. GM boasts an average earnings surprise of +17.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, GM should be on investors' short list.

Starbucks (SBUX - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this coffee chain have returned +10.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The Zacks Retail - Restaurants industry, to which Starbucks belongs, has gained 11.5% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Starbucks is expected to post earnings of $0.75 per share, indicating a change of +33.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.7% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $3.19 points to a change of +17.3% from the prior year. Over the last 30 days, this estimate has changed +2%.

For the next fiscal year, the consensus earnings estimate of $3.78 indicates a change of +18.5% from what Starbucks is expected to report a year ago. Over the past month, the estimate has changed +1.2%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Starbucks.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Starbucks, the consensus sales estimate of $9.63 billion for the current quarter points to a year-over-year change of -2.9%. The $37.92 billion and $39.63 billion estimates for the current and next fiscal years indicate changes of +0% and +4.5%, respectively.

Last Reported Results and Surprise HistoryStarbucks reported revenues of $9.14 billion in the last reported quarter, representing a year-over-year change of -4.5%. EPS of $0.8 for the same period compares with $0.52 a year ago.

Compared to the Zacks Consensus Estimate of $9.27 billion, the reported revenues represent a surprise of -1.41%. The EPS surprise was +9.59%.

Over the last four quarters, Starbucks surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Starbucks is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Starbucks. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Key Takeaways Starbucks targets 4% North America comparable sales growth and adjusted EPS of $3.15-$3.25 in fiscal 2027.SBUX's global comparable sales growth was 7.2%, with U.S. sales up 7.7% on stronger traffic and tickets.SBUX plans 1,200 net new stores, over 2,000 North American renovations and further cost savings in FY2027. During Starbucks Corporation’s (SBUX - Free Report) fourth-quarter fiscal 2026 earnings call, management emphasized accelerating coffeehouse productivity, expanding digital capabilities and maintaining disciplined expansion. 

The company also introduced fiscal 2027 guidance, reflecting confidence in its operating improvements despite ongoing portfolio changes. SBUX is shifting its focus from operational recovery to sustained growth as the Back to Starbucks strategy delivers stronger customer traffic, improving profitability and broader engagement.

Fiscal fourth-quarter adjusted earnings of 80 cents per share exceeded the Zacks Consensus Estimate of 73 cents. However, revenues of $9.14 billion fell short of the consensus estimate of $9.27 billion.

SBUX Targets Continued Growth in Fiscal 2027Chairman and CEO Brian Niccol said the company's turnaround initiatives have evolved into a longer-term growth strategy, supported by five consecutive quarters of positive comparable sales growth.

Executive vice president and CFO Cathy Smith projected fiscal 2027 North America comparable sales growth of approximately 4%, consolidated non-GAAP operating margin of 13.5% to 14% and adjusted earnings per share of $3.15 to $3.25.

Management expects consolidated revenues to decline approximately 1% in fiscal 2027, primarily reflecting China's transition to a licensed joint venture model. Guidance includes approximately $700 million in revenues from an additional operating week.

Starbucks Strengthens Coffeehouse OperationsNiccol attributed improving customer engagement to Green Apron Service, better staffing, operational consistency and improved product availability. More than 80% of North American company-operated coffeehouses generated positive comparable sales during the quarter.

Global comparable coffeehouse sales increased 7.2%, while U.S. comparable sales rose 7.7%, supported by transaction growth of 2.4% and average ticket growth of 5.2%.

During questioning from Morgan Stanley, Niccol emphasized that fiscal 2027 sales expectations rest primarily on stronger operating fundamentals, supported by loyalty engagement and menu innovation rather than temporary promotional activity.

SBUX Expands Digital and Menu InnovationNiccol outlined plans to improve customer convenience through personalized digital experiences, expanded delivery integration and artificial intelligence-enabled ordering capabilities.

Management plans to integrate delivery directly into the Starbucks app beginning in the second quarter of fiscal 2027, while testing AI applications designed to improve drive-through order accuracy and service speed.

During discussions with Wolfe Research, Niccol highlighted afternoon growth opportunities involving Refreshers, food offerings and health-focused beverages. Smith added that Starbucks' matcha platform now exceeds $1 billion, reinforcing opportunities to expand beverage occasions beyond morning demand.

Starbucks Pursues Disciplined Global ExpansionNiccol said Starbucks sees potential for approximately 5,000 additional North American coffeehouses over time, although rebuilding its domestic development pipeline will limit near-term openings.

Management expects approximately 1,200 net new coffeehouses globally in fiscal 2027, with international markets contributing roughly 1,100 locations. Starbucks also plans more than 2,000 North American coffeehouse renovations.

Responding to Evercore ISI, Niccol indicated that U.S. openings could exceed 300 in fiscal 2028 as development capabilities recover. Niccol also emphasized that new smaller-format prototypes are receiving favorable initial customer and employee feedback.

SBUX Focuses on Margin Recovery and Cost SavingsNon-GAAP operating margin expanded 450 basis points on a constant-currency basis to 14%, reflecting sales leverage, cost controls and benefits from earlier operational investments.

During questioning from Bernstein, Smith said Starbucks had achieved more than half of its $2 billion gross savings initiative. Additional savings from operating expenses and product costs are expected through fiscal 2028, supporting management's profitability objectives.

Starbucks Maintains Its Execution PrioritiesManagement's overarching message centered on making recent operating improvements sustainable through stronger service, consistent customer engagement and disciplined capital allocation.

Niccol emphasized continued investment in technology, menu innovation and coffeehouse experiences. Smith reinforced the company's commitment to business investment, dividends and approximately $1 billion in planned fiscal 2027 share repurchases.

What SBUX Zacks Rank and Style Scores IndicateSBUX currently carries a Zacks Rank #3 (Hold), indicating a neutral near-term earnings estimate revision outlook. Its Growth Score of B and Momentum Score of A reflect favorable growth characteristics and strong price momentum, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock's Value Score of D indicates less attractive valuation characteristics. However, its VGM Score of B reflects a favorable combined assessment across value, growth and momentum factors. The Zacks Rank and Style Scores provide complementary perspectives on potential performance, although the Rank can change as analysts revise earnings estimates following the latest results.

The sixth ship in the award-winning Edge Series will sail the Caribbean in 2028, joining nine other Celebrity Cruises ships sailing to unforgettable island escapes.

, /PRNewswire/ -- The Caribbean is about to get even more "Xcite"-ing. Inaugural sailings for Celebrity Xcite, the sixth ship in Celebrity Cruises' award-winning Edge Series, are now open for booking. Setting sail in 2028, Celebrity Xcite joins Celebrity Cruises' most expansive Caribbean lineup yet — with the most Edge Series ships sailing the region — departing from four Florida ports in 2028 and 2029.

Celebrity Cruises Opens Bookings for Celebrity Xcite's Debut Season: Celebrity Xcite "The Caribbean is our guests' favorite place to vacation. Whether it's a long-awaited island getaway or a spontaneous weekend escape, we are creating new and fresh ways for guests to experience the region with Celebrity Cruises," said Laura Hodges Bethge, president of Celebrity Cruises. "With the debut of Celebrity Xcite, and more Edge Series ships in the Caribbean than ever before, our 2028 and 2029 season gives guests more ways to experience the destinations they love, paired with innovative design, elevated service, and unforgettable moments at sea that only Celebrity Cruises can deliver."

Highlights of the 2028-2029 Caribbean season include:

Celebrity Xcite makes its highly anticipated debut with seven-night sailings from Miami.The first-ever short sailings for Celebrity Cruises' Edge Series, with new three-night weekend escapes from Fort Lauderdale on Celebrity Beyond.More bucket-list sailings to the Panama Canal than ever before on Celebrity Beyond.New eight- to 12-night summer sailings on Celebrity Silhouette with Celebrity Cruises' first full summer season to Southern Caribbean destinations including Barbados, Saint Lucia, Martinique, and Grenada.More opportunities to visit Aruba, Bonaire, and Curaçao aboard Celebrity Xcel from Fort Lauderdale.Year-round Caribbean escapes aboard the renewed Celebrity Reflection from Fort Lauderdale.Seven-night Caribbean escapes on the new Celebrity Xcite
Celebrity Xcite's inaugural season will feature seven-night Caribbean vacations from Miami, bringing guests to some of the region's most sought-after destinations. Rotating itineraries take guests to St. Thomas, Antigua, the British Virgin Islands, St. Kitts and Nevis, St. Maarten, and the Dominican Republic. Guests can unwind on white-sand beaches, swim in turquoise waters, explore natural wonders including The Baths at Virgin Gorda, and immerse themselves in the vibrant cultures of the Caribbean.

Long weekends get an Edge Series upgrade on Celebrity Beyond
For the first time, guests can experience an Edge Series ship on a short Caribbean getaway. Celebrity Beyond will offer nine three-night weekend getaways from Fort Lauderdale to The Bahamas from November 2028 through March 2029, pairing the Edge Series' award-winning design and transformative onboard experiences with the ease of a long-weekend escape. Guests will also enjoy the ship's newest experiences, including Orange Peel Bar & Grille, Tacos del Sol, and Bora, debuting on board in November 2026.

For even more ways to get away, Celebrity Eclipse will offer weekend getaways from Fort Lauderdale, while Celebrity Summit will sail four- to five-night itineraries from Miami. Select sailings offer guests the opportunity to unwind at Royal Beach Club Paradise Island, in Nassau, The Bahamas.

Endless destination-rich experiences from South Florida
For guests looking to spend more time exploring the Caribbean, longer sailings from Fort Lauderdale offer deeper immersion in the Caribbean's vibrant culture and natural beauty.

Eight- to 11-night sailings on Celebrity Beyond visit destinations including St. Kitts and Nevis, Martinique, Barbados, Saint Lucia, and Antigua, and feature six bucket-list journeys to the Panama Canal. Guests can experience the marvel of the canal's iconic lock system before returning to the Caribbean to island hop.

Celebrity Ascent will offer nine- to 12-night sailings to destinations including Grand Cayman, Aruba, Curaçao, Saint Lucia, Martinique, St. Maarten, Barbados, Antigua, and Turks and Caicos Islands. Celebrity Eclipse will also sail from Fort Lauderdale on 11-night itineraries to guest-favorite destinations.

On Celebrity Xcel, six- and eight-night sailings from Fort Lauderdale offer Southern Caribbean itineraries to Aruba, Bonaire, and Curaçao, as well as Western Caribbean itineraries to Mexico, Honduras, and Grand Cayman. On board, guests can immerse themselves in The Bazaar, Celebrity Xcel's transformative experience that brings the culture, flavors, and spirit of each destination to life.

Year-round sailings offer more chances to visit the Southern Caribbean 
Celebrity Silhouette's eight- to 12-night summer sailings include unique chances to visit the Southern Caribbean in the summer months. Guests can enjoy destinations like Barbados, Martinique, Saint Lucia, and Grenada, with more opportunities to discover the region's crystal-clear beaches, natural wonders, and vibrant culinary offerings. From October, Celebrity Silhouette's seven-night sailings departing from San Juan, Puerto Rico, feature five port days every sailing, with destinations including St. Thomas, Antigua, Martinique, Saint Lucia, and Barbados.

Celebrity Reflection will continue to sail the Caribbean year-round, offering six- to eight-night itineraries from Fort Lauderdale. Following its March 2027 transformation, the ship will feature 13 new spaces, including Edge Series standouts such as the Grand Plaza, guest-favorite venues introduced on the renewed Celebrity Solstice, and more. From bow to stern, new outdoor spaces, dining experiences, and entertainment offerings will reshape how guests relax, dine, and connect.

Celebrity Apex returns to Central Florida
Celebrity Apex returns to Cape Canaveral, continuing to offer guests in Central Florida an elevated way to experience the Caribbean. Eastern Caribbean itineraries visit guest-favorite destinations including the British Virgin Islands, the Dominican Republic, and St. Maarten, while Western Caribbean itineraries invite guests to savor the flavors of Cozumel, the white-sand beaches of Grand Cayman, and unforgettable experiences in Key West. From Tampa, Celebrity Constellation will feature seven-night sailings to Key West, The Bahamas, and the Western Caribbean.

On sale dates:

November 3, 2026 — Winter 2028-2029 Caribbean sailingsDecember 9, 2026 — Summer 2028 Caribbean sailings2028 and 2029 Caribbean sailings invite guests to visit their favorite places more often, all with Celebrity Cruises' elevated experiences and unmatched hospitality. For more information and to book a sailing, visit www.celebritycruises.com, call Celebrity Cruises at 1-888-751-7804, or contact a trusted travel advisor.

Editor's Note:
Media can stay current on all Celebrity Cruises news at www.celebritycruisespresscenter.com 

About Celebrity Cruises
Celebrity Cruises, part of Royal Caribbean Group (NYSE: RCL), delivers an elevated premium vacation experience across its fleet of ocean and river ships traveling to more than 300 destinations across more than 70 countries spanning all seven continents. Uniquely offering the intimate feel and thoughtful service of small ships, with the variety and excitement of bigger ones – guests can explore the world or get away from it for a little while. With every detail elevated beyond expectations, guests will never want to vacation any other way. An industry pioneer for more than 35 years, each Celebrity vacation offers experiences you won't find anywhere else.

Visit www.celebritycruises.com for more information, and connect with us on Instagram, Facebook or LinkedIn.

SOURCE Celebrity Cruises

Qualcomm (QCOM), the wireless and computing chip designer, rose 0.25% to $162.49 at 10:19 a.m. ET on November 3 as its AI inference ambitions cleared an enginee

Shares of Intel (INTC +1.85%) were trading down 31% the day after the chipmaker reported its fourth-quarter outlook on Oct. 30. Weak PC chip sales grabbed the headlines, but this overshadowed an important milestone in the data center business.

Several factors contributed to the stock's sudden plunge. An accident shut down Intel's Israel factory, expected to cost about $300 million in fourth-quarter revenue and 2 percentage points (200 basis points) of gross margin. PC makers are also cutting inventory, which management expects to contribute to a more than 20% sequential decline in client computing segment sales next quarter.

The PC slump seems to be the biggest concern weighing on the shares. CEO Lip-Bu Tan said, "In recent weeks, our customers began signaling a PC slowdown based on the memory prices and availability." Management expects industrywide PC units to fall about 12% in 2026.

Image source: Getty Images.

But Intel just hit a key milestone. Most of its profit now comes from the data center and artificial intelligence segments, where revenue jumped 78% from a year ago. This segment earned $3 billion in operating profit last quarter, or 42% of revenue. By comparison, the client segment earned $2.3 billion, or 28% of revenue.

INTC Intel$61.08+$1.11 (+1.85%)

NASDAQ · As of 11:25 AM ET 11/03/26

That gap could widen. Tan said graphics processing units (GPUs) are great at the "thinking" in artificial intelligence (AI) workloads, but traditional processors (CPUs) are far more energy-efficient for running AI agents. He believes the server CPU market "could increase as much as five times from where it is today," from $40 billion to more than $200 billion over five years.

Still, at about 42 times forward earnings, the stock isn't cheap for a business split between booming servers and a weak PC market. If the PC correction drags on, lower sales could pressure the company's margins, limiting the stock's upside over the next year.

Over the long run, short-term pain in PCs could be masking a decade of server growth. That's why, if the stock continues to fall, it might create a more attractive entry point for new investors.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel. The Motley Fool has a disclosure policy.

Intel just told investors to expect another year without positive free cash flow, yet bulls still see a path to triple-digit share prices. Here is what both sides are missing about the foundry bet bleeding cash beneath a deceptively strong…

Intel (NASDAQ:INTC | INTC Price Prediction) trades at $59.97. Management just told investors that 2027 will be another year without positive free cash flow, and the stock has already lost 49.74% in a month.

Intel designs x86 processors and is spending heavily to build a contract foundry. Its latest quarter looked strong on the surface. Revenue reached $16.51B, up 20.9% YoY, and non-GAAP EPS of $0.52 beat the $0.40 consensus. Then the outlook hit. Intel guided Q4 EPS to $0.25, and CFO David Zinsner said, “I don’t think that this will be a year in which we see positive cash flow.” The shares fell 8.8% in the latest session alone.

Xeon Demand Gives Bulls a Genuine Growth Engine Data Center and AI revenue rose 78% YoY to $7.32B, and its operating income jumped to $3.04B from $964M. Demand exceeds supply, and management sees agentic AI raising the server CPU market from $40 billion to more than $200 billion over five years.

Manufacturing is improving too. Intel 18A costs have fallen approximately 40% since Q1, and external foundry customer announcements are expected over the next two quarters. Roughly $54 billion in cash and short-term investments funds the expansion.

Foundry Losses and Rising Capex Keep Draining Cash Intel Foundry lost $1.85B in Q3 after losing $2.1B in Q2. Annual operating cash flow has trailed capital spending in every year from 2021 through 2025. Even in a strong quarter, $5.08B of operating cash flow left only $1.64B of adjusted free cash flow, and 2027 gross capex is expected to be up strongly.

Dilution adds pressure. The $23B equity offering raising Q4 diluted shares to 5.44 billion. Interest coverage stands at -2.03. The Fab 28 incident will cost about $300 million in Q4, and management expects the PC market to contract roughly 10% in 2027.

Supply Gains Could Still Rescue the Turnaround Several catalysts could support the turnaround. Intel 3 is expected to turn profitable in 2027, and management targets at least 20% ROI on new nodes. Zinsner called 2027 “basically a knothole” on the way to stronger cash generation. Signed external foundry customers or a Q4 gross margin above the 38.0% guide would strengthen the bull view. Another wave of foundry losses would confirm the bear view.

Analysts Lean Hold as Intel Trails the Market Intel is priced at $59.97 versus a consensus target of $101.02, meaning 68.45% upside. Targets often lag sharp selloffs, so treat that figure as one data point. The 49 analysts covering the stock break down as follows:

Strong Buy: 1 Buy: 14 Hold: 32 Sell: 1 Strong Sell: 1 Intel is still up 62.52% year to date, versus 10.3% for the S&P 500. Over one month it fell 49.74% while the index slid 2.27%. Forward P/E is about 31x, and beta is 2.23.

Intel Faces Mounting Pressure Until Free Cash Flow Turns Positive At $59.97, Intel faces several near-term risks.

The downside path runs through the two quarters ahead. Q4 guidance calls for sequential declines in revenue and margin, the Fab 28 hit is expected to repeat in Q1, and PC inventory correction may extend into Q2. Each shortfall lands on a company already committed to higher 2027 spending.

The month-long drop priced in a lighter Q4. It has yet to price in a full year of cash burn that may require more dilution or debt. The stock still remains above the $32.89 52-week low.

Signed foundry customers with meaningful volume, or a clear reduction in foundry losses, would force a review. Until then, Intel is asking shareholders to fund a turnaround before it produces cash.

Contact [email protected] for any questions or corrections.

Shopify SHOP shares tumbled after its fiscal Q3 earnings this morning, with investors focusing on a modest revenue miss and slightly softer growth metrics.

Yet beneath the market's knee-jerk reaction lies a business that continues to expand at an enviable pace, generate increasing cash flow, and strengthen its position at the center of global commerce.

For investors willing to look beyond a single quarter's headline figures, the earnings-driven decline in Shopify stock could prove more opportunity than warning sign.

The bearish narrative centers on one fact: Shopify reported third-quarter revenue of $3.74 billion, slightly below the roughly $3.77 billion analysts had expected.

The company also generated gross merchandise volume (GMV) of $119.1 billion, while some Wall Street forecasts were modestly higher.

Those numbers triggered a sharp selloff in a stock that had been priced for near-perfect execution.

However, the broader picture looks far more encouraging.

Revenue still climbed 32% year-on-year to $3.74 billion, while GMV also went up about 30% to $119.1 billion. Adjusted earnings per share reached $0.49, exceeding analyst expectations.

In other words, SHOP did not report a deterioration in business fundamentals.

It reported another quarter of rapid growth, just not enough to satisfy elevated expectations attached to a premium-valued technology stock.

The distinction matters. Markets often punish companies when expectations outrun reality – even when underlying performance remains strong.

Investors are unloading SHOP shares because of what the company failed to achieve relative to expectations rather than what it actually delivered.

By almost any objective measure, expanding revenue by over 30% on a multi-billion-dollar quarterly base remains an impressive achievement.

Perhaps the most underappreciated aspect of the quarter was profitability.

While many growth companies struggle to balance expansion with earnings discipline, Shopify continues to improve both simultaneously.

The company generated free cash flow equal to 22% of revenue during the quarter, its strongest level since late 2024.

That development deserves attention because free cash flow ultimately provides the resources to invest in new products, artificial intelligence (AI) initiatives, merchant services, and future growth opportunities without relying heavily on external financing.

Investors often celebrate rapid revenue expansion, but sustainable wealth creation typically comes from businesses that can convert sales into cash.

The quarter also demonstrated that Shopify's ecosystem remains deeply embedded in merchants' operations.

Processing more than $119 billion in GMV over a three-month period highlights the platform's scale and importance across online commerce.

As growth moderates from extraordinary levels to merely excellent levels, improving margins and stronger cash generation become increasingly important.

The release shows SHOP is successfully navigating the transition.

Rather than signaling weakness, the earnings report may indicate a business becoming more efficient while still maintaining impressive top-line momentum, and that makes Shopify shares attractive to buy on the dip.

The strongest argument for viewing the selloff today as a buying opportunity is that management's outlook remains constructive.

Shopify expects revenue growth in the low-30% range during the fourth quarter, a period that includes the crucial holiday shopping season.

Analysts had been modeling about 31% growth, suggesting the firm’s guidance remains healthy despite concerns sparked by the Q3 report.

Importantly, investors are not dealing with a company warning of collapsing demand, shrinking merchant activity, or deteriorating profitability.

Instead, they are evaluating one that continues to grow sales by roughly one-third annually, generate expanding cash flow, and process record levels of commerce.

SHOP stock's decline appears driven more by a valuation reset than operational weakness.

When expectations become exceptionally high, even a slight miss can trigger an outsized reaction.

History shows that such moments often create opportunities for investors focused on business quality rather than quarterly sentiment.

For long-term shareholders, the key takeaway from this earnings season may be simple: the market punished Shopify for missing lofty expectations, but the underlying business continues to execute at a level most companies would envy.

If that assessment proves correct, today's post-earnings dip could eventually be remembered as a buying opportunity rather than a warning sign.

For the quarter ended September 2026, Shopify (SHOP - Free Report) reported revenue of $3.74 billion, up 31.6% over the same period last year. EPS came in at $0.49, compared to $0.34 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.74 billion, representing a surprise of +0.15%. The company delivered an EPS surprise of +8.89%, with the consensus EPS estimate being $0.45.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Shopify performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Gross Merchandise Volume (GMV): $119.15 billion compared to the $118.73 billion average estimate based on eight analysts.Monthly Recurring Revenue (MRR): $230 million versus $229.1 million estimated by five analysts on average.Revenues- Merchant solutions: $2.91 billion versus $2.88 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +35.5% change.Revenues- Subscription solutions: $836 million versus $855.52 million estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +19.6% change.Gross Profit- Merchant solutions: $1.12 billion versus the eight-analyst average estimate of $1.09 billion.Gross Profit- Subscription solutions: $661 million versus $686.9 million estimated by eight analysts on average.View all Key Company Metrics for Shopify here>>>

Shares of Shopify have returned -2.4% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Shopify's earnings miss sent the stock tumbling, and the damage is spreading through funds that millions of retirement savers hold without realizing it. Whether your portfolio took a hit depends on one obscure detail about where Shopify is incorporated.

Shopify (NASDAQ:SHOP | SHOP Price Prediction) shares are down 9.51% in today’s regular session, trading at $141.37 as of 10:31 AM ET. The company reported third-quarter results before the open, and the sell-off has spread to several ETFs. If you own a Nasdaq-100 fund, you own a piece of this drop. If you own a plain S&P 500 or total-market fund, you probably don’t. The difference comes down to where Shopify is incorporated.

Revenue Narrowly Missed and Merchandise Growth Slowed
Third-quarter revenue came in at $3.742 billion, just below the $3.744 billion consensus, even though sales grew 31.58% year over year. Adjusted EPS of $0.49 beat the $0.4598 estimate. Gross profit grew 28.04%, slower than revenue, because the mix continues changing toward lower-margin payments revenue.

Wall Street’s biggest worry is slowing merchandise sales, a point Barron’s noted this morning. Gross merchandise volume (GMV), the total value of goods sold on the platform, rose 29%. That compares with 32% growth in the second quarter. With the stock trading at a P/E of about 155, even a small slowdown matters.

Which Popular ETFs Hold Shopify

ETF
Shopify Weight
Today’s Move

Invesco QQQ
0.603%
+0.65%

Invesco QQQ (NASDAQ:QQQ) has the most direct exposure among the major funds. Its latest filing, dated June 30, 2026, lists 25,888,276 Shopify shares worth $2.96 billion at the time. That is a mid-sized position in a fund led by NVIDIA at 7.60% and Apple at 6.67%.

What the Drop Cost QQQ Holders
Based on the reported weight, today’s fall takes roughly 0.057 percentage points off QQQ’s return. In dollar terms, that’s about $5.74 on a $10,000 position. Across the fund’s reported share count, the drop is worth about $385 million in market value, assuming the share count hasn’t changed since June.

QQQ is still up 0.65% today because its larger holdings are rising. Shopify’s actual weight may differ from the filing, since the fund’s position was valued well below today’s price at midyear. The fund is down 8.54% over the past month, so pressure on growth stocks was already building before this report.

Overlap Risk for Retirement Index Investors
Many retirement savers pair a total-market fund with a Nasdaq-100 fund to add growth. That combination adds Shopify exposure that the core fund leaves out, along with larger weights in names both funds already hold. NVIDIA, Apple, and Microsoft together make up about 18.6% of QQQ, and all three are also top holdings in broad U.S. index funds.

Growth-heavy funds also tend to fall together when highly valued stocks reset. Check your 401(k) and IRA statements for any Nasdaq-100 funds, international growth funds, or e-commerce funds. Those are the places Shopify exposure tends to show up.

What Shopify Holders Should Watch Next
Management expects fourth-quarter revenue growth in the low-thirties percentage range and gross profit growth in the high-twenties. Free cash flow margin reached 22% this quarter. The next key readings are holiday-season GMV and whether that gap between revenue and gross profit growth continues widening. For QQQ holders, Shopify’s results matter less than how the fund’s semiconductor and megacap holdings perform.

Contact [email protected] for any questions or corrections.

Teva Pharm to grow more in 2027 despite US' IRA impact on Austedo

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Key Takeaways PFE tops Q3 estimates as strength in Eliquis, Padcev and Vyndaqel offsets lower COVID-19 product sales.PFE raises its 2026 revenue guidance to $62-$64 billion and adjusted EPS outlook to $2.95-$3.05.Sales of Pfizer's launched and acquired products grow 32% operationally, while non-COVID revenues increase 7%
Pfizer (PFE - Free Report)  reported third-quarter 2026 adjusted earnings per share of 87 cents, beating the Zacks Consensus Estimate of 72 cents. Earnings were flat year over year.

Revenues came in at $16.58 billion, relatively flat year over year on both a reported and operational basis. Total revenues beat the Zacks Consensus Estimate of $16.13 billion. Growth in Eliquis, Padcev, the Vyndaqel family, Nurtec and Lorbrena was offset by declining sales of COVID-19 products and the Prevnar family.

International revenues rose 1% operationally to $5.98 billion, while U.S. revenues declined 1% to $10.60 billion.

PFE’s Segment DiscussionPfizer reports its revenues under four broad sub-segments of its Biopharma operating segment — Primary Care, Oncology, Specialty Care, and Hospital and Biosimilars. The Hospital and Biosimilars division was created in the first quarter of 2026

Primary Care sales declined 9% operationally to $6.97 billion. Oncology revenues increased 10% to $4.33 billion, while Specialty Care sales rose 7% to $3.35 billion. Hospital and Biosimilars revenues increased 2% to $1.64 billion.

PFE Primary Care SalesIn Primary Care, alliance revenues and direct sales from partner Bristol Myers Squibb (BMY - Free Report) for Eliquis increased 25% on an operational basis to $2.52 billion, driven by higher net prices in the United States and higher global demand. This was partially offset by generic competition and price erosion in certain international markets. Eliquis sales beat the Zacks Consensus Estimate of $2.38 billion.

Prevnar family revenues declined 10% to $1.56 billion, missing the Zacks Consensus Estimate of $1.67 billion. U.S. sales declined 11%, while international sales fell 9% operationally. Lower vaccination rates in the adult and pediatric indications, along with market share erosion in the adult indication in the United States, hurt sales.

Direct sales and alliance revenues from partner BioNTech (BNTX - Free Report) for the COVID vaccine, Comirnaty, declined 29% to $808 million, reflecting lower U.S. utilization due to narrower vaccination recommendations, a smaller favorable adjustment to the returns provision and lower contractual deliveries in certain international markets. However, sales beat the Zacks Consensus Estimate of $776 million.

Paxlovid revenues plunged 63% to $449 million, reflecting lower COVID-19 infections across the United States and international markets. Sales exceeded the Zacks Consensus Estimate of $326 million.

Nurtec ODT/Vydura contributed $547 million in the quarter, up 33% year over year, driven by strong demand in the United States and launch uptake in certain international markets.

Pfizer's RSV vaccine, Abrysvo, recorded sales of $303 million, up 9% year over year.

PFE’s Oncology SalesIn Oncology, Ibrance revenues increased 3% to $1.08 billion, exceeding the Zacks Consensus Estimate of $1.03 billion.

Padcev sales climbed 55% to $720 million and surpassed the Zacks Consensus Estimate of $692 million. Padcev benefited from increased market share in first-line locally advanced or metastatic urothelial cancer and launch uptake in the cisplatin-ineligible muscle-invasive bladder cancer indication.

Xtandi alliance revenues declined 6% to $541 million. Lorbrena revenues rose 43% to $387 million, driven by increased patient share in the first-line ALK-positive metastatic non-small cell lung cancer treatment setting.

Adcetris sales increased 8% to $231 million, while Inlyta revenues were flat at $232 million. Braftovi/Mektovi sales increased 21% to $244 million.

Among other oncology drugs, Tukysa revenues increased 30% to $142 million, while Orgovyx sales climbed 37% to $153 million.

Pfizer's Specialty Care and Hospital SalesVyndaqel family revenues increased 12% to $1.77 billion, exceeding the Zacks Consensus Estimate of $1.68 billion. Growth reflected continued U.S. market expansion, strong demand driven by increased patient diagnoses in international markets and improved access in certain countries.

Xeljanz sales declined 32% to $213 million, while Enbrel revenues fell 2% to $151 million. Cibinqo sales rose 26% to $101 million.

Within Hospital and Biosimilars, oncology biosimilar revenues increased 20% to $378 million, while Inflectra sales rose 7% to $186 million.

PFE Raises 2026 Sales and EPS GuidancePfizer raised its 2026 revenue guidance to a range of $62.0-$64.0 billion from the previous expectation of $60.5-$62.5 billion. The revised range represents a $1.5 billion increase at the midpoint and reflects strong year-to-date business performance. The Zacks Consensus Estimate was $62.5 billion.

The company also raised and narrowed its adjusted earnings guidance to $2.95-$3.05 per share from the previous range of $2.80-$3.00. The Zacks Consensus Estimate was $2.94 per share.

The adjusted EPS guidance includes an approximately 10-cent-per-share unfavorable impact related to a one-time $650 million acquired in-process research and development charge associated with Pfizer's licensing and collaboration agreement with Innovent Biologics.

Our Take on PFE’s Q3 ResultsPfizer delivered solid third-quarter results, beating estimates for both earnings and revenues. Eliquis, Comirnaty, Paxlovid, Vyndaqel, Ibrance and Padcev exceeded the respective Zacks Consensus Estimate, while Prevnar fell short.

Strength in non-COVID products continued to offset declining pandemic-related sales. Excluding Comirnaty and Paxlovid, revenues increased 7% operationally in the quarter.

Sales of Pfizer's launched and acquired products grew an impressive 32% operationally, reflecting strong contributions from products such as Padcev, Nurtec and Lorbrena.

Pfizer also raised its full-year 2026 revenue and earnings guidance, supported by strong year-to-date commercial performance.

However, despite the company’s better-than-expected third-quarter results and increased guidance, Pfizer’s shares declined slightly in pre-market trading.

Pfizer’s stock has risen 24.8% so far this year compared with an increase of 24.6% for the industry.

Image Source: Zacks Investment Research

Pfizer continues to navigate a challenging transition as it seeks to replace declining COVID-related revenues and offset upcoming patent expirations through new product launches, pipeline development and contributions from acquisitions. The company expects a high single-digit revenue CAGR for five years, starting from year-end 2028.

The company is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. Several key pivotal readouts are expected over the next 12 months.

PFE’s Zacks RankPfizer has a Zacks Rank #3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Midterm Elections May Be Causing Investors to Tamp ActivityPfizer & Shopify Both Beat on Q3 EarningsJOLTS Data & More Earnings to Come Today Tuesday, November 3rd, 2026

Pre-market futures are mixed ahead of the bell, with the Nasdaq building back some of its recent losses on AI-buildout concerns, and a “wait and see” mentality regarding the U.S. midterm elections takes hold. Early voting has seen some 60+ million Americans take to the ballot this year — far ahead of normal levels of midterm voting.

The Dow is selling off a bit this morning, -371 points, while the Nasdaq is +89 at this hour. The S&P 500, as per normal, is splitting the difference, -12 points presently. Crude oil prices are down on two noteworthy events in the Middle East: the U.S. has attacked Iran’s Qeshm Island overnight, which is the largest island in the Persian Gulf, and President Trump has announced he will be pulling back $4 billion in payments to Israel by the end of the year.

Q3 Earnings This Morning: PFE, SHOP
Big Pharma staple Pfizer (PFE - Free Report) released Q3 results ahead of today’s open, posting earnings of $0.87 per share versus expectations of $0.72, for a +20.8% positive earnings surprise. Revenues of $16.58 billion in the quarter outpaced the Zacks consensus by +2.8%. The drugmaker upped guidance on stronger Eliquis sales, but shares are flat pre-market after gaining +23% year to date. For more on PFE’s earnings, click here.

E-commerce mainstay Shopify (SHOP - Free Report) shares are tumbling -15% in today’s early trading, despite modest beats on both top and bottom lines in its Q3 this morning. Earnings of $0.49 per share amounted to a 4-cent outperformance, with revenues of $3.74 billion +0.15% ahead of estimates. The company missed on Gross Merchandise Volume (GMV) and subscription metrics, however. For more on SHOP’s earnings, click here.

After today’s close, we’ll hear from AI chipmaking company Advanced Micro Devices (AMD - Free Report) , which is up in today’s pre-market and +118% year to date. Analysts are expecting +61.7% earnings growth and +41.89% on revenues. The Lisa Su-run company has not missed on earnings expectations since Q4 2018.

Not to be confused based on similar ticker symbol, agriculture giant Archer Daniels-Midland (ADM - Free Report) also reports after today’s close. Earnings growth is expected to come in at an excellent +77.2% year over year, with revenues projected up +11.3%. The Zacks Rank #2 (Buy)-rated company is aiming for its eight-straight quarterly earnings beat.

Meanwhile, software firm Skyworks Solutions (SWKS - Free Report) reports its fiscal Q4 report after today’s close. Following the company’s $10 billion Qorvo acquisition, Skyworks looks to report earning down -27.84% year over year, -6.35% on revenues. The company has not missed on bottom-line estimates since Q1 2019.

What to Expect from the Stock Market Today
We won’t get any midterm returns until well after today’s trading session is over, but we’ll make sure to keep abreast of developments throughout the country today. Otherwise, the September print on Job Openings and Labor Turnover Survey (JOLTS) is expected to remain in-line with the prior month, at +7.1 million job openings.

JOLTS numbers are back to pre-Covid levels, and have been here pretty steadily over the past nearly two years. This is consistent with the “low hire/low fire” employment numbers we’ve seen elsewhere. Job Quits in August dropped to 3.07 million, at an historically low +1.9% rate. Basically, lots of people remain employed, but fewer are finding opportunities elsewhere. Today’s JOLTS figures kicks off the latest “Jobs Week.”

Questions or comments about this article and/or author? Click here>>

Lowe's (LOW - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this home improvement retailer have returned +21.5% over the past month versus the Zacks S&P 500 composite's -2.3% change. The Zacks Retail - Home Furnishings industry, to which Lowe's belongs, has gained 19.3% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Lowe's is expected to post earnings of $2.86 per share, indicating a change of -6.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.4% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $12.25 points to a change of -0.3% from the prior year. Over the last 30 days, this estimate has changed -0.1%.

For the next fiscal year, the consensus earnings estimate of $13 indicates a change of +6.1% from what Lowe's is expected to report a year ago. Over the past month, the estimate has changed -0.3%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Lowe's is rated Zacks Rank #4 (Sell).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Lowe's, the consensus sales estimate of $22.36 billion for the current quarter points to a year-over-year change of +7.4%. The $91.96 billion and $94.23 billion estimates for the current and next fiscal years indicate changes of +9.1% and +2.5%, respectively.

Last Reported Results and Surprise HistoryLowe's reported revenues of $25.96 billion in the last reported quarter, representing a year-over-year change of +8.3%. EPS of $4.4 for the same period compares with $4.33 a year ago.

Compared to the Zacks Consensus Estimate of $26.13 billion, the reported revenues represent a surprise of -0.68%. The EPS surprise was +4.27%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Lowe's is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Lowe's. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.

Chevron (CVX - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this oil company have returned +10.3% over the past month versus the Zacks S&P 500 composite's -2.3% change. The Zacks Oil and Gas - Integrated - International industry, to which Chevron belongs, has gained 8.1% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Chevron is expected to post earnings of $5.57 per share, indicating a change of +266.5% from the year-ago quarter. The Zacks Consensus Estimate has changed +10.5% over the last 30 days.

The consensus earnings estimate of $18.2 for the current fiscal year indicates a year-over-year change of +149.7%. This estimate has changed +4.2% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $17.3 indicates a change of -5% from what Chevron is expected to report a year ago. Over the past month, the estimate has changed +14.5%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Chevron is rated Zacks Rank #2 (Buy).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Chevron, the consensus sales estimate for the current quarter of $63.21 billion indicates a year-over-year change of +34.9%. For the current and next fiscal years, $243.42 billion and $241.13 billion estimates indicate +28.8% and -0.9% changes, respectively.

Last Reported Results and Surprise HistoryChevron reported revenues of $67.8 billion in the last reported quarter, representing a year-over-year change of +36.3%. EPS of $5.28 for the same period compares with $1.85 a year ago.

Compared to the Zacks Consensus Estimate of $60.49 billion, the reported revenues represent a surprise of +12.09%. The EPS surprise was +10.46%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Chevron is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Chevron. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Caterpillar (CAT - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this construction equipment company have returned -27.7%, compared to the Zacks S&P 500 composite's -2.3% change. During this period, the Zacks Manufacturing - Construction and Mining industry, which Caterpillar falls in, has lost 27.1%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Caterpillar is expected to post earnings of $7.04 per share, indicating a change of +36.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.3% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $27.62 points to a change of +44.9% from the prior year. Over the last 30 days, this estimate has changed +0.9%.

For the next fiscal year, the consensus earnings estimate of $33.14 indicates a change of +20% from what Caterpillar is expected to report a year ago. Over the past month, the estimate has changed +0.5%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Caterpillar is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Caterpillar, the consensus sales estimate for the current quarter of $21.7 billion indicates a year-over-year change of +13.4%. For the current and next fiscal years, $80.22 billion and $89.11 billion estimates indicate +18.7% and +11.1% changes, respectively.

Last Reported Results and Surprise HistoryCaterpillar reported revenues of $20.68 billion in the last reported quarter, representing a year-over-year change of +17.3%. EPS of $7.2 for the same period compares with $4.95 a year ago.

Compared to the Zacks Consensus Estimate of $20.58 billion, the reported revenues represent a surprise of +0.48%. The EPS surprise was +1.12%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Caterpillar is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Caterpillar. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Hennessy Advisors Inc. purchased a new position in shares of Newmont Corporation (NYSE: NEM) in the undefined quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,600 shares of the basic materials company's stock, valued at approximately $2,491,000. Other institutional investors also recently modified their

From November 10 travelers can enjoy voyage fares from $999, onboard credit, and reduced deposits across 161 voyages worldwide.

, /PRNewswire/ -- Luxury cruise line Cunard announced its Black Friday Sales Event, offering travelers savings and added benefits across 161 voyages aboard its iconic fleet of four Queens.

The promotion includes voyages to the Caribbean, Canada and New England, Northern Europe, the Mediterranean and destinations around the world, as well as Cunard's iconic Transatlantic Crossings aboard Queen Mary 2, which will undergo a refurbishment in March 2027.

Select voyages in Cunard’s Black Friday Sales Event include itineraries on Queen Mary 2 which will undergo an extensive refurbishment in March 2027. From November 10 guests will be able to take advantage of fares from $999, offering savings of up to 40%, alongside onboard credit, and reduced deposits on select voyages.

161 Extraordinary Voyages to Choose From

The Black Friday Sales Event includes select sailings across all four Cunard Queens, from shorter European escapes and iconic Transatlantic Crossings to extended World Voyage segments.

A New Era for Queen Mary 2:  Following her extensive refurbishment in 2027, the world's only ocean liner will embark on a diverse season of voyages. Guests can choose from Transatlantic Crossings between New York and Southampton, Canada and New England itineraries and Caribbean voyages sailing roundtrip from New York. Featured options include a seven-night westbound Transatlantic Crossing departing Southampton on May 12, 2027; a 14-night Canada and New England voyage sailing roundtrip from New York on September 17,2027; and a 13-night Eastern Caribbean voyage departing New York on November 19, 2027.Caribbean Escapes Aboard Queen Elizabeth: Queen Elizabeth will return to Miami for another season of roundtrip Caribbean voyages, offering 14-night itineraries that showcase the region's vibrant cultures, turquoise waters and sun-soaked destinations. Featured sailings depart November 11 and December 23, 2027, including the opportunity to celebrate the holiday season at sea.Extended Adventures Aboard Queen Anne: Guests can embark on extraordinary World Voyage segments aboard Queen Anne, including a 56-night South America Discovery roundtrip voyage from Fort Lauderdale departing January 22, 2027. The offer also includes select 2028 segments sailing from Miami and Los Angeles to destinations around the world.Discover Europe with Cunard: Travelers can experience the Mediterranean aboard Queen Elizabeth, with a selection of seven-to-21-night voyages sailing from Rome, Barcelona and Trieste. Additional European itineraries aboard Queen Anne and the newly refreshed Queen Victoria invite guests to discover Norway's dramatic fjords, Iceland's striking landscapes, the British Isles, the Baltic and the Atlantic islands.For more information about Cunard, the Black Friday Sale, or to book a voyage, guests can contact their travel advisor, call Cunard at 1-800-728-6273 or visit www.cunard.com.  

Travel Advisors interested in further information can contact their Business Development Manager, visit OneSourceCruises.com, or call Cunard at 1-800-528-6273.  

Offer Details 

The Black Friday Sales Event applies to select new bookings made between November 10 and December 7, 2026. The offer includes fares from $999, savings of up to 40% off launch fares, onboard credit, and a reduced refundable deposit of 10% of the total voyage price. Offers have limited availability, are capacity controlled and are available on select voyages and stateroom categories. Onboard credit varies by voyage length and stateroom category booked. Reference promotion code RD1.

Complimentary Hotel Charges are available for eligible guests making new bookings in Grill Suites on voyages included in the Black Friday Sales Event. The offer is based on Cunard's prepayment of the suggested Hotel Charge of $19 per person, per day and is not available for third-or-fourth-berth guests. Other onboard service charges are not included. Reference promotion code HG2.

Additional restrictions apply. Please visit Cunard.com/disclaimer for complete terms and conditions.

About Cunard  

Cunard is a luxury British cruise line, renowned for creating unforgettable experiences around the world. Cunard has been a leading operator of passenger ships since 1840.  

The Cunard experience is built on fine dining, hand-selected entertainment, and outstanding White Star service. From a partnership with a two-Michelin starred chef, to inspiring guest speakers, to world class theatre productions, every detail has been meticulously crafted to make the experience unforgettable. A pioneer in transatlantic journeys and round world voyages, destinations sailed to also include Europe, the Caribbean, Alaska, the Far East and Australia.  

 There are currently four Cunard ships, Queen Mary 2, Queen Elizabeth, Queen Victoria and new ship, Queen Anne, which entered service in May 2024. Cunard is based at Carnival House in Southampton, UK and is part of Carnival Corporation, the world's largest cruise company with a portfolio of cruise lines operating in over 800 ports & destinations worldwide. (NYSE: CCL).  

For additional information about Cunard, contact:  

Cunard: [email protected]  

Social Media  

Facebook: www.facebook.com/cunard  
Twitter: www.twitter.com/cunardline  
YouTube: www.youtube.com/wearecunard  
Instagram: www.instagram.com/cunardline 

SOURCE Cunard

Salesforce signed its fifth major acquisition of the year while its stock sits 14% in the red, raising a question every investor in the sector now has to answer: how many integrations can one platform absorb before the buying spree…

On November 2, 2026, Salesforce (NYSE:CRM | CRM Price Prediction) said it signed a definitive agreement to buy Cresta. Cresta is a private company whose voice agents handle complex customer calls from start to finish, and its software also trains human reps. Salesforce did not disclose a price, but it is reportedly paying $2.7 billion.

The stock fell 1.32% and closed at $226.18, a market value of $186.12 billion. It traded at $225.41 after hours. The iShares Expanded Tech-Software Sector ETF (NYSEARCA:IGV) dropped 2.29% to $101.90, well below its $116.32 52-week high, so Salesforce’s decline matched the rest of the sector.

Selling resumed on October 29. That day ServiceNow (NYSE:NOW) fell 26.95% to $109.67 after giving a weaker contracted revenue outlook, and Salesforce fell 4.63% to $230.90. Salesforce now stands 9.63% below its October 22 close of $250.29 and is down 14.03% for the year.

It is still about 51% above its June 22 closing low of $150.12 and about 16% below its $269.11 high. A third deal in two weeks likely adds integration work faster than it improves the product.

What Salesforce Signed and What It Left Out The signed agreement covers a narrow scope. Cresta will be combined with Service Cloud and will keep working with the contact center and telephony systems its customers already use, which tells you Salesforce wants to own the AI layer of the call without owning the phone system under it.

The deal is expected to close in the first quarter of fiscal 2028, which runs roughly February through April 2027, if regulators approve. No money has changed hands yet. Salesforce did not disclose the price. It also did not say whether it will pay in cash or stock, how much revenue Cresta will add, or what the deal will do to margins and earnings.

Kishan Chetan runs Agentforce and Service Cloud. He said, “Voice is where service is hardest to get right, and where it matters most to customers.” Phone calls are where the hardest problems and the highest labor costs end up. An agent that can finish a call on its own is worth more than one that only drafts replies.

Sizing the Reported Price On April 30, 2026, Cresta said it had passed $100 million in annual recurring revenue, a figure that has not been audited. Its last stated valuation was $1.6 billion, set after an $80 million Series C led by Tiger Global in March 2022. A $125 million Series D in November 2024 came with no valuation.

The reported price is roughly 69% above that 2022 valuation and at most about 27 times recurring revenue. That is a high multiple for revenue no auditor has checked. For Salesforce, though, the deal equals only about 1.45% of its market value.

A more useful comparison is the $25 billion accelerated share repurchase, an agreement in which a bank hands over shares up front. Salesforce expects it to retire at least 14% of its shares at an average of $176. The day after those results, the stock rose 22.6% from $205.62 to $252.05.

Why the Deal Pattern Matters More This year Salesforce also agreed to buy Contentful at a reported $1.5 billion, Fin (formerly Intercom) for about $3.6 billion, Listen Labs for about $2 billion, and Braze (NASDAQ:BRZE) at an enterprise value of about $5.66 billion. Including Cresta, the five deals total about $15.5 billion, although several prices are reported rather than confirmed. Salesforce gave no price for m3ter, Loops, or Rune Technologies.

Salesforce keeps buying features instead of building them, and each purchase adds code that must be joined into a single product. It is doing this while Informatica is still being integrated.

Blair Pleasant of COMMfusion summed up the logic. “Cresta understands the conversation, Salesforce understands the customer.” That logic holds only if the two come as one product that contact centers will buy.

What Salesforce’s Valuation Signals for Investors Now With a P/E of about 25 and a free cash flow yield of 7.74%, the stock is reasonably priced for a company whose Agentforce annual recurring revenue topped $1.5 billion, up more than 240%.

Salesforce’s current remaining performance obligation, meaning contracted revenue due within a year, grew 14% last quarter. That growth suggests ServiceNow’s weaker outlook likely reflects issues specific to ServiceNow.

The real risk is execution, because Salesforce has signed eight acquisitions in one year. The next earnings report, expected around December 2, 2026, but not yet confirmed, should say something specific about voice in Service Cloud. A filing should eventually disclose Cresta’s terms, and the deal should close by April 2027. If the stock closes below $205.62, the August rally will have fully reversed, and the valuation case would need a fresh look.

Contact [email protected] for any questions or corrections.

Key Takeaways KGC's Q3 EPS rose 13.6% to 50 cents, beating estimates, while revenues fell 1.5%.Kinross' gold prices jumped 22.8%, while production declined 15.7%.KGC raised its 2026 shareholder return commitment to 50% of free cash flow.
Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 50 cents per share for the third quarter of 2026, up 13.6% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 46 cents by 8.7%.

Revenues declined 1.5% year over year to $1.77 billion, missing the consensus estimate of $2.08 billion by 14.7%. Lower gold sales volumes weighed on revenues despite higher realized gold prices. Attributable gold-equivalent production fell 15.7% year over year, reflecting reduced output across several operations.

KGC's Operational PerformanceKinross produced 424,693 attributable gold-equivalent ounces in the reported quarter, down from 503,862 ounces in the prior-year period. Consolidated production totaled 432,368 gold-equivalent ounces compared with 520,301 ounces a year ago. The attributable production figure lagged our estimate of 503,004. The decline reflected planned lower production at Fort Knox and Bald Mountain, alongside reduced output at La Coipa and Round Mountain.

The average realized gold price increased 22.8% year over year to $4,249 per ounce from $3,460. The figure topped our estimate of $4,138 per ounce. Stronger pricing helped offset the impact of lower sales volumes. Margin per gold-equivalent ounce sold rose 18.9% to $2,747 from $2,310 in the year-ago quarter.

Production cost of sales per gold-equivalent ounce sold increased 30.6% year over year to $1,502 from $1,150. This was above our estimate of $1,365. Higher energy, contractor and reagent expenses, lower production volumes and increased royalties associated with elevated gold prices contributed to the increase.

Attributable all-in sustaining cost per gold-equivalent ounce sold rose 20% to $1,947 from $1,622. This exceeded our estimate of $1,682. Total production cost of sales increased to $627.2 million from $598.6 million. Despite these cost pressures, operating earnings improved to $821 million from $810.1 million.

Kinross' Financial Position and Cash FlowKinross generated operating cash flow of $714.4 million during the quarter, down from $1.02 billion a year ago. Attributable adjusted operating cash flow was $830.9 million compared with $965.5 million in the prior-year period.

Attributable free cash flow declined to $281.3 million from $686.7 million, while attributable adjusted free cash flow decreased to $391.4 million from $657.9 million. These measures were affected by the timing of sales and increased capital spending.

Cash and cash equivalents totaled $2.64 billion as of Sept. 30, 2026. Long-term debt was $739.2 million, resulting in net cash of approximately $1.9 billion. Total liquidity was around $4.4 billion.

Capital expenditures increased 40.8% year over year to $439.6 million, reflecting higher development spending at Curlew, Bald Mountain Redbird, Great Bear and Round Mountain Phase X.

Kinross' OutlookKinross remains on track to achieve its updated 2026 guidance, supported by operational improvements at Round Mountain and La Coipa. Management continues to focus on cost discipline, operational efficiency and development of its grade-enhancement projects.

The company increased its 2026 shareholder return commitment to 50% of full-year free cash flow from 40%. It returned more than $950 million to shareholders through dividends and repurchases year to date as of Oct. 28, 2026.

Kinross also declared a quarterly dividend of 4 cents per common share, payable Dec. 3, 2026, to shareholders of record on Nov. 19.

KGC’s Price PerformanceKinross’ shares have fallen 8.5% in the past year against a 10.5% rise in the industry. 

Image Source: Zacks Investment Research

KGC’s Zacks Rank & Key PicksKGC currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space are Reliance, Inc. (RS - Free Report) , Element Solutions Inc. (ESI - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

RS and ESI currently sport a Zacks Rank #1 (Strong Buy), while ASM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here

The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 62.4% over the past year.

The Zacks Consensus Estimate for ESI’s 2026 earnings is pegged at $1.85 per share, indicating a year-over-year rise of 24.2%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 6%.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 28 cents per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 75%.