Robinhood Chain běží jako Ethereum Layer-2 na Arbitrum a používá výhradně ETH na poplatky, takže vlastní token je podle analytiků zatím nepravděpodobný.
Robinhood built an entire blockchain and still didn’t launch a token. In an industry where seemingly every company with a website eventually mints its own coin, that restraint is worth examining.
The company’s new Robinhood Chain, which went live on July 1, operates as an Ethereum Layer-2 network built on Arbitrum infrastructure. It uses ETH exclusively as its native gas token for transaction fees. According to analysts, that architectural decision effectively closes the door on a proprietary Robinhood token, at least for now.
Why no token makes strategic sense Robinhood Chain is a permissionless Ethereum L2. It processes transactions using ETH for gas, the same way Ethereum’s mainnet does. This approach mirrors what several other Ethereum L2 networks have done. Base, Coinbase’s own Layer-2, similarly runs on ETH rather than issuing a native coin.
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What Robinhood Chain actually does The chain launched with a focus on tokenized real-world assets, including stock tokens representing US equities and ETFs. These tokenized securities are initially available to eligible users in more than 120 countries, with an early emphasis on EU and EEA markets.
The platform enables 24/7 trading of tokenized assets, removing the artificial constraint of market hours that has governed equity trading for over a century.
Uniswap is among the day-one ecosystem partners, providing liquidity infrastructure on the chain.
The competitive landscape is getting crowded Robinhood isn’t the only company racing to tokenize traditional assets on a blockchain. Coinbase has Base. Traditional finance giants like BlackRock have been tokenizing money market funds.
The no-token strategy means users don’t need to acquire an unfamiliar asset just to pay for transactions. They just need ETH, which is available on every major exchange and already sits in many crypto wallets.
For ETH itself, Robinhood Chain adds another source of demand. Every transaction on the network requires ETH for gas, which means increased usage of the chain translates directly into increased demand for Ethereum’s native asset.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Targa Resources oznámila rekordní výsledky za 2. čtvrtletí: upravená EBITDA vzrostla meziročně o 38 % na 1,603 miliardy USD a celoroční výhled míří k horní hranici rozpětí 5,7 až 5,9 miliardy USD.
3 S&P 500 Stocks With Sky High Risk-Adjusted ReturnsTarga Resources NYSE: TRGP reported record second-quarter operating volumes and adjusted EBITDA, supported by growth in the Permian Basin, higher marketing optimization opportunities and record activity across its downstream operations.
Chief Executive Officer Matt Meloy said adjusted EBITDA rose 38% from a year earlier, while Permian volumes increased by more than 900 million cubic feet per day from the prior-year period and 450 million cubic feet per day from the first quarter. The company said its results were achieved despite first-quarter weather disruptions, natural-gas takeaway constraints, negative Permian gas pricing and broader market volatility.
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The Top 5 Performing S&P 500 Stocks YTD in 2024For the full year, Targa now expects adjusted EBITDA to be toward the upper end of its prior $5.7 billion to $5.9 billion guidance range. Meloy said that would suggest adjusted EBITDA growth of close to $1 billion over 2025, alongside dividend growth and share repurchases.
Permian Growth and Returning Volumes President Jen Kneale said second-quarter Permian volumes reached a record 7.2 billion cubic feet per day, up approximately 7% sequentially and 14% from a year earlier. During the quarter, Targa had roughly 200 million to 400 million cubic feet per day of gas shut in behind its Permian systems on a given day because of weak Waha pricing.
Oil & Gas Are Moving In August, Here Are The 3 Industry FavoritesHowever, the company said the quarter-over-quarter volume increase despite those shut-ins demonstrated continued producer activity. With the Hugh Brinson Phase I project and GCX expansion now operating, most price-related producer shut-ins returned to Targa’s systems in July, according to Kneale.
Kneale said July delivered another strong month of volume growth and that activity is running somewhat ahead of the company’s expectations at the start of the year. The company expects continued growth during the second half of 2026 and said the momentum supports its outlook for 2027 and beyond.
Management also said a stronger macro backdrop, including higher crude oil prices and improved natural-gas egress from the Permian, is supporting producer activity. The company noted that a small amount of price-related shut-in volume remained to return in early August, while routine shut-ins can also occur for operational reasons such as frac protection.
Marketing Gains and Downstream Records Chief Financial Officer Will Byers said second-quarter adjusted EBITDA was $1.603 billion, up 14% from the first quarter. The gain reflected higher marketing optimization opportunities and record volumes in Permian gathering and processing, NGL transportation, fractionation and LPG exports.
Targa’s marketing businesses exceeded the company’s expectations by about $250 million in the first half, with much of the outperformance occurring during the second quarter. Kneale said constrained Permian gas egress created opportunities for the marketing business, while stronger Waha prices and narrower basis spreads have since reduced some of those opportunities.
Meloy said the company is taking a conservative view of marketing margins for the second half because it does not assume material optimization gains in its guidance. While underlying volumes remain strong, management expects lower marketing opportunities to moderate results compared with the second quarter.
Downstream operations also set records during the quarter. Targa reported NGL transportation volumes of 1.1 million barrels per day, fractionation volumes of 1.2 million barrels per day and LPG export loadings averaging 14.8 million barrels per month. Management said demand for U.S. hydrocarbons, including butane, helped the company maximize dock utilization and export volumes.
Ben Branstetter, president of Logistics and Transportation, said Targa remains highly contracted through the startup of its LPG Export Expansion, or LEP 4, and for years afterward. The company said some demand created by the current export environment has been incorporated into longer-term contracts.
Growth Projects and Capital Plans Targa said its East Driver gas-processing plant in the Permian Midland began service late in the second quarter ahead of schedule. Five additional processing plants in the Permian Delaware — Copperhead I and II, Yeti I and II, and Roadrunner III — remain on schedule to begin operations as previously announced.
The company is evaluating the timing of its next Midland processing plant and expects a continued cadence of multiple plant additions annually, depending on basin growth, commercial contracts and new customer wins. Pat McDonie, president of Gathering and Processing, said extended equipment lead times have not affected Targa’s ability to execute projects, with the company generally planning around an 18- to 24-month timeline from development to startup.
On the downstream side, Targa’s Train 11 fractionator entered service early in the second quarter and was quickly highly utilized. Trains 12 and 13 remain on track. The Delaware Express Pipeline also entered service during the quarter, adding NGL transportation capacity in the Delaware Basin.
The Speedway NGL pipeline expansion, connecting Targa’s Permian operations to Mont Belvieu, remains scheduled for the third quarter of 2027. Initial capacity is expected to be 500,000 barrels per day, with potential expansion to 1 million barrels per day through additional pumping capacity. Targa’s LPG export expansion, expected to raise capacity to roughly 19 million barrels per month, is also scheduled for the third quarter of 2027.
Byers said Targa continues to expect approximately $4.5 billion of net growth capital spending and $250 million of net maintenance capital spending in 2026. The company ended the second quarter with $3.2 billion of available liquidity and a pro forma consolidated leverage ratio of about 3.4 times, within its long-term target range of 3 times to 4 times.
Targa declared a second-quarter common dividend of $1.25 per share, a 25% increase from the year-earlier dividend. It also repurchased about $80 million of common stock during the quarter at an average price of $259.93 per share.
About Targa Resources (NYSE:TRGP)Targa Resources Corporation NYSE: TRGP is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.
The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.
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Value Alert: 3 High-Yield Stocks Trading at 52-Week Lows Tronox NYSE: TROX reported second-quarter 2026 revenue of $868 million, up 19% from a year earlier, as higher titanium dioxide, or TiO2, and zircon volumes helped offset lower average zircon selling prices, including mix. The company posted a $21 million operating loss and a net loss attributable to Tronox of $171 million, which included a $103 million valuation allowance related to certain U.S. state deferred-tax assets.
Adjusted EBITDA was $73 million, down 22% year over year but up 18% sequentially, while adjusted EBITDA margin was 8.4%. Adjusted diluted earnings per share was a loss of $0.51. The company generated $60 million of free cash flow during the quarter and reduced inventory by roughly $120 million from the first quarter, reaching its lowest inventory level since June 2024.
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Volumes and Pricing Improve Sequentially Chemical Maker Tronox Holds Above 10-Day Line After $4.3 Billion Buyout OfferChief Executive Officer John Romano said TiO2 volumes reached the high end of the company’s guidance range and were at their highest level since the second quarter of 2022. Zircon volumes exceeded expectations and surpassed the strong first-quarter level as industry supply remained constrained.
Sequentially, TiO2 revenue rose 14%, reflecting a 9% volume increase and a 5% increase in average selling prices, including mix. Zircon revenue increased 9%, with volumes rising 4% and pricing increasing 5%. Romano said the pricing gains were primarily driven by base-price increases rather than temporary surcharges.
The company has implemented additional TiO2 and zircon price increases in the third quarter. Romano said Tronox is increasingly shifting away from temporary surcharge mechanisms toward “more sustainable pricing actions” that account for market conditions, higher input costs and the value of reliable supply. Remaining targeted surcharges are largely tied to sulfur-related costs in Brazil and Thann.
Chief Financial Officer John Srivisal said pricing is expected to be the largest contributor to expected third-quarter earnings improvement. He also cited expected cost benefits from the completion of planned outages and from the company’s cost-improvement program, partly offset by elevated costs associated with the Middle East conflict and foreign-exchange headwinds.
Outages, Costs and Balance Sheet Tronox said its second-quarter costs included the effects of a regulatory outage at its Stallingborough facility and an extended shutdown of its SR kiln. Romano said the SR kiln outage lasted more than 50 days, while the Stallingborough outage extended to 29 days from an originally scheduled 24 days. Both outages have now been completed.
Management said the company remains on track to achieve the high end of its $125 million to $175 million cost-improvement run-rate target by the end of 2026. Sales of lower-cost inventory, program savings and plant closures partially offset higher production costs, freight expenses and currency effects during the quarter.
At June 30, Tronox had $3.2 billion of total debt and $3 billion of net debt. Liquidity totaled $527 million, including $194 million of cash and cash equivalents. The company’s weighted average interest rate was approximately 6%, with about 75% of interest rates fixed through 2028. Its next significant debt maturity is not until 2029, according to Srivisal.
During the quarter, the company replaced an expired short-term Emirates revolving facility with a new $75 million long-term financing arrangement. Tronox also paid $45 million in capital expenditures, primarily for maintenance and safety, and returned $8 million to shareholders through dividends.
Third-Quarter Outlook and India Trade Measures For the third quarter, Tronox expects TiO2 volumes to decline moderately in the mid-single-digit percentage range due to seasonal patterns. Zircon volumes are expected to moderate slightly after a strong first half, primarily because of the company’s inventory availability.
TiO2 pricing is expected to rise sequentially by a mid-single-digit percentage range, while zircon pricing is projected to increase by a mid- to high-single-digit percentage range. Tronox forecast third-quarter adjusted EBITDA of $95 million to $115 million and expects sequential margin improvement.
The company expects third-quarter free cash flow to be relatively neutral because of semiannual interest payments, but it reaffirmed expectations for meaningful positive free cash flow for full-year 2026. Its assumptions include approximately $190 million of net cash interest, less than $10 million of net cash taxes, less than $260 million of capital expenditures and working capital as a cash source of well above $100 million.
Romano highlighted developments in India, where the Indian Trade Defense Agency on Aug. 3 recommended reinstating duties on Chinese-made TiO2 at levels unchanged from those originally imposed in May 2025. The recommendation now goes to India’s Minister of Finance, which has 90 days to decide.
Romano said the duties, ranging from $460 to $681, would not eliminate Chinese imports but could help create a more competitive market. He said Chinese exports into India have increased, potentially as customers build inventory ahead of a possible reinstatement, though Tronox’s own India volumes rose from the first quarter to the second quarter.
The company is also monitoring anti-dumping investigations in Australia and the United Kingdom and is evaluating possible anti-absorption actions in markets where duties already exist.
Rare Earths Project Remains Under Evaluation Tronox continues to advance its rare-earth strategy while seeking financing sources, potential customers and strategic partners. The company expects its definitive feasibility study for an Australian cracking and leaching facility producing mixed rare earth carbonate, or MREC, to conclude in the third quarter of 2027.
The planned Australian facility would have expected capacity of 10,000 tons annually on a total rare-earth-oxide basis, with a potential late-2029 startup if the project continues on its current path. Tronox is also evaluating a downstream refinery for separated rare-earth oxides, including a potential location at its Hamilton, Mississippi, site.
Romano said the company does not currently need a technology partner for the initial Australian MREC phase, but it continues to assess potential partners for a separated-oxides facility. He said the company is prioritizing completion of the Australian feasibility study before providing more detailed capital estimates.
About Tronox (NYSE:TROX)Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company's operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox's product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.
Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.
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Q4 Earnings Suprise Could Offer Trex Stock a Path to RecoveryTrex NYSE: TREX reported second-quarter net sales of $418 million, up 8% from a year earlier, as demand strengthened through May and June and growth broadened across product categories, distribution channels and price points.
President and Chief Executive Officer Adam Zambanini said the company’s sales performance exceeded expectations, supported by strong sell-through activity that continued into the third quarter. He said growth was especially notable in railing and entry-level decking products, including Trex Enhance Basics, which the company views as its primary product line for converting consumers from wood decking.
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Tariff Fatigue? Look to These 3 Stocks for Upside“Every level’s consumer, good, better, best, is participating at all categories,” Zambanini said during the company’s earnings call. He attributed the return of entry-level demand in part to increased marketing investment, sales programs and a renewed focus on wood conversion.
Margins Affected by Mix and Production Ramp Second-quarter gross profit totaled $158 million, while gross margin was 37.9%. Chief Financial Officer Prithvi Gandhi said gross margin declined from the first quarter and prior-year level due to product mix, depreciation associated with the Little Rock manufacturing facility and temporary manufacturing inefficiencies.
3 Stocks with Unusual Trading Volume During Market SelloffAs demand accelerated late in the quarter, Trex increased production to support customers and maintain channel inventories. Gandhi said the pace of the production ramp created higher overtime expense, more line changeovers and other temporary inefficiencies that reduced gross margin by more than 100 basis points during the quarter.
However, he said utilization and operating efficiency improved by the end of June, with exit-rate gross margins above the overall quarterly average. Trex expects those improvements to continue through the remainder of the year.
GAAP selling, general and administrative expense was $67 million, or 16.1% of sales. The company continues to expect SG&A to represent about 18% of sales for the full year as it invests in marketing, talent, digital transformation and other organizational capabilities.
Trex also recorded a $5 million non-cash write-down related to obsolete equipment. The company excluded the charge from adjusted EBITDA, which was $112 million, though it did not exclude the expense from adjusted diluted earnings per share of $0.62. Gandhi said the charge reduced diluted EPS by $0.03.
Little Rock Production Ramp Accelerated Trex is accelerating the production ramp at its Little Rock, Arkansas, facility by more than six months, citing stronger demand and progress under its growth strategy. The plant will be located near raw-material sources, Texas and other major residential markets, and a transportation hub that the company expects will improve freight economics for customers in the central United States.
Zambanini described Little Rock as the company’s “wood conversion growth engine,” particularly given the concentration of pressure-treated Southern Yellow Pine decking in the Southern Sun Belt. He said wood still accounts for nearly 75% of the decking category and that each percentage point of wood share converted to Trex represents approximately $80 million in incremental sales opportunity.
Trex expects to bring about half of Little Rock’s production lines online by the end of 2026. Gandhi said the facility is expected to become the company’s most efficient and lowest-cost production plant once it reaches higher utilization rates. Most of the margin benefit is expected to be realized in 2027 and beyond.
The company said Little Rock, when fully operating, could support annual revenue of approximately $1.8 billion to $2 billion. The lines can manufacture the company’s various decking product offerings, according to Zambanini.
Guidance Raised, Capital Returns Expanded Management said it recently raised its full-year 2026 net sales and adjusted EBITDA guidance, though the specific full-year ranges were not discussed during the call. Trex now expects adjusted gross margin of approximately 38% for the year, up from its prior expectation of 37.5%, driven primarily by higher capacity utilization as Little Rock begins production in the third quarter.
For the third quarter, the company forecast net sales of $305 million to $320 million. Gandhi said adjusted gross margin is expected to decline sequentially by roughly 30 to 40 basis points from the second quarter, reflecting normal seasonal volume patterns.
Trex generated $182 million in free cash flow during the second quarter, aided by working-capital seasonality and lower capital expenditures as Little Rock construction approaches completion. The company used $51 million to repurchase shares and repaid $130 million outstanding under its revolving credit facility.
Management plans to repurchase up to an additional $150 million of shares during the rest of 2026. Gandhi said Trex expects share repurchases to remain an important capital-allocation tool, alongside investment in the business and selective acquisition opportunities.
Distribution and Long-Term Growth Strategy Trex has also made changes to its distribution network that management characterized as proactive efforts to simplify and strengthen product availability for contractors and homeowners. Zambanini said the company sees more than $100 million of decking and railing currently represented by smaller tertiary brands across its distribution network, creating a potential opportunity to win market share over time.
He said gains from tertiary brands have been limited so far but could become more meaningful over the next two years. The company cited one distributor that converted six dealers from a tertiary brand to Trex within three weeks, before inventory had reached the ground.
Trex reiterated its goal of reaching $2 billion in annual sales by 2030. Zambanini said the plan contemplates at least two-thirds of the growth coming organically, with approximately one-third potentially coming from mergers and acquisitions. Potential M&A priorities include vertical integration in decking and railing, backyard-adjacent product categories and, longer term, products related to the home exterior.
The company also said it intends to expand its participation in PVC decking through its Trex Refuge offering. Zambanini said the product’s sales progression has been in line with expectations and that Trex plans to broaden the PVC lineup over time.
About Trex (NYSE:TREX)Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.
Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.
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Timken ve 2. čtvrtletí zvýšil tržby o 7,5 % na 1,26 mld. USD a upravený zisk na akcii téměř o 30 % na 1,83 USD. Zároveň zvedl celoroční výhled na rok 2026 na růst tržeb o 5 % až 6 %.
Forging Ahead: 2 Stocks Fueling the Manufacturing RevivalTimken NYSE: TKR reported higher second-quarter sales, margins and adjusted earnings, citing increased pricing, volume growth and stronger demand in several industrial end markets. The company also raised its full-year 2026 outlook, marking its second increase this year.
Second-quarter revenue rose 7.5% from a year earlier to $1.26 billion. Organic sales increased 4.4%, while the Bijur Delimon acquisition contributed 1.8 percentage points of growth and foreign-currency translation added 1.3 percentage points. Adjusted EBITDA totaled $247 million, or 19.6% of sales, compared with a 17.7% margin in the prior-year quarter. Adjusted earnings per share increased nearly 30% to $1.83.
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Chief Financial Officer Mike Discenza said adjusted results included an $8 million, or $0.08-per-share, net benefit from refunds of IEEPA tariffs. The company said the refunds more than offset higher tariff costs relative to the prior year, producing a $6 million net favorable year-over-year tariff impact in the quarter.
Industrial Motion posts record quarterly sales Industrial Motion generated record quarterly sales of $454 million, up 14.6% from a year earlier. Organic sales increased 8%, with Bijur Delimon contributing about 5 percentage points and currency adding more than 1 percentage point.
The segment’s adjusted EBITDA margin rose 500 basis points year over year to 23.3%. Discenza attributed the improvement to operational execution, higher volume, favorable price and mix, and tariff refunds. Automation and industrial solutions, infrastructure, and industrial transportation and mobility each posted double-digit growth, while aerospace and defense also grew. Power and electrification sales declined because of a sizable reduction in solar sales.
Linear motion systems and lubrication systems led growth among product platforms. President and CEO Lucian Boldea said the company’s expansion of Rollon’s European business into the U.S. contributed to a second consecutive quarter of double-digit organic growth in the linear motion platform.
The Engineered Bearings segment reported sales of $807 million, up nearly 4%, including 2.5% organic growth. Aerospace and defense and infrastructure delivered the strongest gains, while industrial transportation and mobility was relatively flat. Segment adjusted EBITDA was $161 million, or 20% of sales, compared with 19.7% a year earlier. Favorable price and mix, higher volume and tariff refunds aided margins, though higher labor and other operating costs partly offset those benefits.
Strategy actions include divestiture, portfolio investments Boldea said Timken is advancing its “Elevate to Outperform” strategy, which centers on portfolio optimization, investment in strategic verticals and customers, and operating more cohesively across its multinational operations.
The company remains on track to complete the divestiture of its Belts business in the third quarter. Timken expects the move to improve Industrial Motion EBITDA margins by more than 200 basis points on a pro forma basis. Its exit from automotive original-equipment business is also progressing as planned and is expected to begin benefiting Engineered Bearings margins in 2027, according to Boldea.
Timken said the integration of Bijur Delimon, acquired for its lubrication systems platform, is ahead of schedule. The acquisition brings the lubrication systems platform to approximately $400 million in revenue.
The company reported high-single-digit organic growth in its strategic verticals during the second quarter, including mid-teens growth in automation and robotics. Boldea also said Timken is investing in aerospace and defense operations, including added operating headcount and retention efforts, to support existing backlog and future growth. Discenza said those investments are expected to create near-term costs, as specialized aerospace workers can require six to nine months of training before contributing to production.
Timken said 60% of company revenue is now represented by businesses engaged in its 80/20 operating initiatives, with a target of 75% by the third quarter. The company expects the initiative to begin benefiting its bottom line in 2027.
Full-year outlook raised For 2026, Timken now expects total sales to increase 5% to 6%, compared with its prior forecast of 4% to 6%. At the midpoint, the company expects organic revenue growth of 3.5%, 0.5 percentage points above its prior outlook. Bijur Delimon and currency are each expected to add about 1 percentage point to full-year revenue.
Adjusted EPS is expected to range from $6.05 to $6.35, representing a $0.20 increase at the midpoint from prior guidance. Adjusted EBITDA margin is projected to be in the low 18% range at the midpoint, compared with 17.4% in 2025. Free cash flow is expected to total $375 million to $400 million, up $25 million from the prior outlook. Discenza said the higher earnings outlook reflects a $0.20 to $0.25-per-share benefit from the revised organic-sales outlook and second-quarter outperformance, plus the $0.08-per-share tariff-refund benefit. Those items are partly offset by a $0.10-per-share headwind for second-half cost inflation, including logistics costs and strategic investments. The company’s outlook does not assume additional IEEPA tariff refunds in the second half because timing and amounts remain uncertain.
Timken generated $107 million of operating cash flow in the second quarter and more than $80 million of free cash flow. It returned $45 million to shareholders through dividends and share repurchases, including the repurchase of approximately 155,000 shares. The company raised its quarterly dividend 3% and ended the quarter with net debt to adjusted EBITDA of 2 times.
Management said order patterns remained robust, although it characterized demand recovery as a steady increase rather than the sharper rebound seen in earlier cycles. Boldea cited continued strength in aerospace and defense, automation and industrial solutions, and infrastructure, while noting that geopolitical uncertainty and normal seasonal patterns informed the company’s second-half assumptions.
About Timken (NYSE:TKR)The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.
Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.
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Toast ve 2. čtvrtletí překonal očekávání, zvýšil celoroční výhled a oznámil 9 500 čistých nových lokací. Tržby z opakovaných hrubých zisků vzrostly o více než 28 % a upravený EBITDA dosáhl 221 milionů USD.
Toast’s Comeback Story Is Getting Harder for Wall Street to IgnoreToast NYSE: TOST reported second-quarter results that exceeded its expectations, led by record location additions, growth in recurring gross profit streams and expanding operating margins. Management also raised its full-year outlook while outlining plans to reinvest in artificial intelligence products, international, enterprise and retail expansion.
CEO Aman Narang said recurring gross profit streams rose more than 28% in the quarter, while GAAP operating income margin reached 26%. The company added a record 9,500 net locations during the period, bringing its total location count to about 180,000, up 22% from a year earlier.
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Fiserv’s Debit Network Talks Raise a Bigger Question for Visa and Mastercard“Our core business continues to scale, our new markets are growing rapidly,” Narang said, adding that Toast is developing an AI-driven platform intended to take on operational work for restaurant customers.
Quarterly financial performance CFO Elena Gomez said annual recurring revenue grew 25% year over year, while recurring gross profit streams rose 28%. Adjusted EBITDA increased 38% to $221 million, with the adjusted EBITDA margin expanding 240 basis points to 37%.
Block’s Pivot to Profits and AI Is Turning HeadsGAAP operating income was $152 million, representing a 26% margin, while GAAP earnings per share reached $0.26. Gomez said recurring gross profit growth plus operating margin totaled 57% in the quarter on a GAAP basis.
Gross payment volume was $61 billion, up 22% year over year. GPV per location was flat, though management said core GPV exceeded expectations amid strong same-store sales trends and a modest benefit from the World Cup late in June.
SaaS ARR increased 27%, supported by location growth and mid-single-digit ARPU growth. Subscription gross profit rose 32%, while SaaS gross margin increased about 240 basis points. Payments ARR grew 23%, and fintech gross profit increased 26%. Total take rate was 98 basis points, up five basis points year over year. Non-payments fintech products, led by Toast Capital, generated $57 million in gross profit and contributed nine basis points to take rate. Toast said customer demand for capital remained strong and credit defaults remained within its expectations. The company attributed its underwriting performance to its data capabilities and disciplined underwriting process.
AI product strategy and Toast IQ Grow Management highlighted Toast IQ Grow, an AI-powered marketing offering, as the company’s fastest-growing product launch to date. Narang said the product is on track to become Toast’s fastest product to reach $10 million in ARR.
Toast IQ Grow combines website, search engine optimization, digital ordering and social-media marketing tools. It uses restaurant and guest data to develop marketing campaigns and connect those campaigns to resulting sales, according to Narang.
Narang cited Spirits Food & Friends, a Louisiana-based customer, as an example. The restaurant consolidated more than 10 systems onto Toast and subsequently adopted Toast IQ Grow. According to the company, the customer cut monthly agency spending by 70% and generated more than $100,000 in marketing-attributed sales in just under two months.
During the question-and-answer session, Narang said Toast intends to extend its agentic-product approach beyond marketing into areas where restaurants commonly outsource work, including scheduling, payroll and tax, inventory management, bookkeeping and accounting. He also identified voice AI for restaurant phone and drive-thru ordering as a potential use case.
Toast said the current marketing product combines AI-generated work with human oversight from marketing success managers. Narang said customers using Toast IQ Grow have shown same-store sales growth, while Gomez said gross margins have already improved as the product has begun to scale.
Expansion beyond core restaurants Toast continued to emphasize opportunities in enterprise, international and retail markets, which it describes as new total addressable markets. Narang said ARR across those markets is larger and scaling faster than the company’s core business did at comparable stages of maturity. The company expects ARR in the new markets to nearly double to $200 million this year.
The company announced several customer and partner developments during the quarter:
Kung Fu Tea, which has more than 300 locations, joined Toast’s core business. Best Western named Toast an endorsed food-and-beverage vendor, opening an opportunity to pursue hotel restaurants across the U.S. and Canada. Toast expanded its relationship with TGI Fridays in the United Kingdom. The company entered fuel payments, onboarding its first gas station convenience-store customers. In enterprise, Toast said it has momentum in restaurants, hotels and sports and entertainment venues. The company estimated the U.S. sports and entertainment opportunity at $500 million in ARR and said it roughly doubled its location count in that market over the past year.
In retail, Toast has doubled sales capacity over the past year and is targeting grocery stores, convenience stores and bottle shops. Narang said retail ARPU is closest to the company’s core business and that grocery offers particularly attractive GPV and ARPU characteristics.
Costs, capital returns and outlook Toast’s hardware and professional-services gross profit was negative 11% of recurring gross profit streams. The company received an approximately $10 million tariff refund during the quarter that had not been included in its guidance. Gomez said Toast expects the refund to represent the bulk of anticipated tariff refunds.
The company is also managing higher memory costs through hardware and supply-chain actions, including using earlier hardware generations, shifting certain products to lower-cost memory and purchasing components in the spot market. Gomez said the company expects the impact on its profit-and-loss statement to be greater in 2027 than in 2026 because of inventory accounting, but management expects the optimization work to lead to structurally better hardware margins once the memory market stabilizes.
Operating expenses rose 19% year over year, excluding $29 million of bad-debt and credit-related expenses. Sales and marketing spending increased 22%, while research and development expense rose 23%, reflecting investments in location growth, new markets, AI products and internal AI tools.
Free cash flow was $130 million, down from a year earlier as Toast chose to acquire and hold more hardware inventory. The company expects adjusted EBITDA-to-free-cash-flow conversion to improve in the second half of 2026.
Toast repurchased more than 19 million shares for $486 million year to date, with about $100 million remaining under its authorization.
For the third quarter, Toast expects subscription and fintech gross profit growth of 22% to 24% year over year and adjusted EBITDA of $210 million to $220 million. For full-year 2026, the company raised its outlook and now expects recurring gross profit growth of 23% to 25% and adjusted EBITDA of $805 million to $825 million.
Gomez said the company plans to reinvest part of its outperformance, including the tariff refund, into growth initiatives and longer-term bets. Toast continues to target gradual margin expansion and said it remains on a path toward adjusted EBITDA margins above 40% over the long term.
About Toast (NYSE:TOST)Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.
Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Sixth Street Specialty Lending vykázala ve 2. čtvrtletí čistý investiční výnos i čistý zisk 0,43 USD na akcii, zatímco NAV zůstalo na 16,24 USD. Základní dividenda 0,42 USD na akcii byla kryta čistým investičním výnosem.
Sixth Street Specialty Lending NYSE: TSLX reported second-quarter net investment income and net income of $0.43 per share, while net asset value remained stable at $16.24 per share. The business development company said operating earnings exceeded its recently established base quarterly dividend of $0.42 per share.
The dividend will be paid Sept. 30 to shareholders of record as of Sept. 15. Chief Executive Officer Bo Stanley said the company generated annualized returns on equity of 10.6% based on net investment income and 10.5% based on net income during the quarter.
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Repayments and activity-based fees improved Repayment activity increased during the second quarter after a slower first quarter marked by market volatility. Sixth Street Specialty Lending recorded $192 million of repayments, producing net repayment activity of $55 million. Repayments rose about 70% sequentially, resulting in annualized portfolio turnover of 23% in the quarter and 18% for the first half of 2026.
The activity generated $0.08 per share of activity-based fee income, though Stanley said this remained below the company’s long-term historical average. Management said repayment activity experienced early in the third quarter supports its view that activity-based fee income could improve in the second half of the year.
Stanley told analysts that the company expects M&A-related activity to be a greater driver of repayments than refinancings during the remainder of the year. He said refinancing activity has been more limited because the current market offers a more attractive spread environment for new investments than the tighter credit conditions seen previously.
Ross Bruck, head of investment strategy, cited the June repayment of TS Imagine, a financial technology provider that refinanced its senior secured credit facility in the private credit market. The repayment included call protection and resulted in an unlevered internal rate of return of 15% and a 1.7x multiple of money for shareholders, according to Bruck.
Portfolio quality and new investment activity The company funded $137 million during the quarter across two new investments and capital called by its Structured Credit Partners joint venture. Bruck said both new investments involved borrowers with which Sixth Street had longstanding relationships.
One example was Photo Holdings, also known as Shutterfly. Sixth Street participated in a refinancing of the company’s debt after having invested in the business for several years. Bruck said the structured financing included contractual amortization, lender protections and what management described as attractive economics. In response to an analyst question, he said the investment was a first-lien term loan priced at a spread of SOFR plus 700 basis points.
Management said the direct-lending environment is showing signs of improvement, including wider spreads, stronger fees, better lender access to management teams, more robust diligence processes and improved loan documentation. Stanley said spreads were generally 25 to 50 basis points wider, while the company has also seen less competition in the upper middle market as capital has exited parts of the direct-lending market.
At June 30, the weighted average total yield on debt and income-producing securities at amortized cost was 11.2%, unchanged from March 31. New first-lien investments carried a weighted average spread of 690 basis points, compared with 527 basis points on new-issue first-lien loans for BDC peers in the first quarter, according to the company.
Sixth Street maintained effective voting control on 78% of debt investments and held an average of two financial covenants per investment. The portfolio had weighted average interest coverage of 2.4x, improving from 2.3x in the prior quarter. Core portfolio companies posted approximately 8% revenue growth and 11% EBITDA growth over the prior 12 months.
Credit quality remained stable. The company had no new non-accrual investments during the quarter, and three portfolio companies were on non-accrual status at June 30, representing 1.3% of the portfolio at fair value. The weighted average internal investment rating was 1.20 on a one-to-five scale, where one is the strongest rating.
Balance sheet actions and earnings outlook Chief Financial Officer Ian Simmonds said total investments were $3.3 billion at quarter-end, while principal debt outstanding was $2 billion and net assets totaled $1.5 billion. The company’s average debt-to-equity ratio rose to 1.24x from 1.14x in the prior quarter, while ending debt-to-equity increased to 1.27x from 1.18x.
Ending leverage was affected by cash held to repay $300 million of unsecured notes maturing Aug. 1. Net of that cash, ending net leverage was 1.17x, slightly below the prior quarter’s 1.18x.
During the quarter, the company extended the maturity of its revolving credit facility to May 2031 and issued $300 million of five-year notes at a spread of Treasury yields plus 180 basis points. The fixed-rate notes were swapped to floating-rate debt at SOFR plus 185 basis points. Following the August repayment of its 2026 notes, the company said it had approximately $966 million of undrawn revolver capacity and no near-term debt maturities, with its next maturity being $300 million of unsecured notes due in the second half of 2028.
Total investment income rose to $97.8 million from $93.4 million in the first quarter, aided by higher prepayment fees and other income. Net expenses increased to $55.7 million, primarily due to higher interest expense. The weighted average interest rate on average debt outstanding increased to 5.6% from 5.5%.
Management estimated undistributed income at approximately $1.12 per share at the end of the quarter. It reiterated that annualized return on equity could be 10% to 10.5% if full-year portfolio turnover remains below 20%, with returns above 10.5% if turnover is higher.
Stanley said the company’s pipeline includes late-stage opportunities that could begin closing in the third quarter, with a more pronounced pickup potentially occurring in the fourth quarter. He said management remains selective and expects a wider dispersion of outcomes across private credit as financing needs become more complex.
About Sixth Street Specialty Lending (NYSE:TSLX)Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.
As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.
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Tidewater ve 2. čtvrtletí zvýšila tržby na 342,3 mil. USD a čistý zisk na 21,7 mil. USD díky vyšším day rates a využití flotily. Firma zároveň zvedla výhled tržeb na celý rok na 1,42 až 1,47 mld. USD.
Oil’s Rally Could Boost These 3 Shipping StocksTidewater NYSE: TDW reported second-quarter 2026 results that exceeded its expectations, as higher day rates, stronger utilization and delayed dry dock activity lifted revenue and margins despite elevated operating costs tied to the Middle East conflict referred to as Operation Epic Fury.
Revenue rose to $342.3 million from $326.2 million in the first quarter, while net income totaled $21.7 million, or $0.43 per share. Gross margin was $160.5 million, representing a 46.9% margin, compared with 48.8% in the prior quarter. Adjusted EBITDA increased to $133.8 million from $129.3 million.
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3 Dependable Stocks Ready to Dominate Your PortfolioPresident and CEO Quintin Kneen said revenue and gross margin both exceeded company expectations. The quarter benefited from higher rates and utilization, including the timing shift of dry docks for seven vessels from the second quarter into later periods. Excluding $6.8 million of expenses associated with Operation Epic Fury, Tidewater said gross margin would have been about 49%.
Day Rates and Utilization Improve Tidewater’s weighted average leading-edge day rate increased approximately 7.5% sequentially during the quarter. The company entered 25 turn contracts with an average duration of about 12 months.
Watch for Tech Giants to Boost Share Buybacks in 2024Active utilization improved to 81.4% from 80.6% in the first quarter, while average day rates increased about 3%. Chief Financial Officer Sam Rubio said the company’s operational performance was supported by stronger demand, better-than-expected uptime and the movement of dry dock work into the second half of the year.
Europe and the Mediterranean were particularly strong. Gross margin in that segment increased by 8 percentage points sequentially, aided by an 8 percentage-point improvement in utilization and an 11% rise in day rates. In the North Sea, large anchor-handling tug supply vessel spot rates averaged above GBP 160,000 per day, with some fixtures completed above GBP 200,000 per day, according to Chief Operating Officer Piers Middleton.
Middle East utilization and day rates also improved despite the conflict, though higher costs reduced segment margins. Tidewater did not experience vessel off-hire related to Operation Epic Fury, Kneen said.
Conflict Costs Remain a Near-Term Headwind Tidewater incurred approximately $6.8 million in additional second-quarter costs related to Operation Epic Fury, bringing year-to-date conflict-related costs to about $9.2 million through June 30. The costs included insurance, higher crew wages, fuel and travel expenses.
Rubio said fuel expense rose more than 50% sequentially in the second quarter. The company has taken steps to limit war-related pay owed to mariners working in affected areas, which resulted in lower-than-expected crew costs during the latter half of the quarter.
The company expects about $4 million of conflict-related costs in the third quarter. It is contractually permitted to seek reimbursement from customers for direct conflict-related costs, including war insurance and crew wages. Tidewater said those direct costs totaled approximately $5 million through the second quarter; it had invoiced nearly $1 million and collected less than $100,000. No reimbursements were included in guidance.
Kneen said Tidewater is working to reduce costs through changes in personnel and insurance arrangements, while continuing to pursue customer reimbursements. He added that activity in the region remains largely unaffected and that management expects a potential increase in work once the conflict is resolved.
Wilsons Closing Expected Around Sept. 1 Tidewater now expects to close its acquisition of Wilson Sons around Sept. 1, following completion of required regulatory steps and change-of-control waivers related to the assumed debt. The company is working with banks to finalize documentation for the debt transfer and has deployed personnel to support pre-closing integration planning.
The later-than-anticipated closing date prompted a revision to full-year guidance because Tidewater will lose roughly two months of Wilson Sons revenue that had previously been expected in 2026. The company expects to pay approximately $270 million in cash for the equity component of the acquisition and plans to use cash on hand rather than its revolving credit facility.
Tidewater ended the second quarter with net debt essentially at zero and liquidity of more than $850 million. It expects net leverage to rise to approximately 0.8 times following the Wilson Sons transaction.
Free cash flow nearly doubled sequentially to $64.4 million in the second quarter from $34.4 million in the first quarter. Rubio attributed the increase primarily to lower dry dock spending, proceeds from the sale of two vessels and lower working-capital use.
Updated 2026 Outlook Tidewater revised its 2026 revenue guidance to a range of $1.42 billion to $1.47 billion and maintained a full-year gross margin outlook of 49% to 50%. The guidance incorporates the expected September closing of Wilson Sons and additional conflict-related costs during the third quarter.
Third-quarter revenue is expected to increase about 3%, including one month of Wilson Sons revenue. Legacy Tidewater revenue is expected to decline about 2% sequentially, reflecting dry docks and higher-than-anticipated repair downtime. Third-quarter gross margin is expected to be about 46%. Approximately 69% of remaining available 2026 days are covered by firm backlog and options, including the Wilson Sons fleet. Full-year guidance assumes utilization of about 80%, leaving roughly 11% of capacity available for additional charters if markets tighten faster than expected. Kneen said the company sees a realistic path to average day-rate increases of $3,000 to $4,000 per day in both 2027 and 2028. He cited rising tendering and pre-tendering activity, limited vessel supply and growing energy-security considerations among customers.
While Tidewater has not repurchased shares this year ahead of the Wilson Sons closing, its $500 million repurchase authorization remains available. Management said it will continue to weigh buybacks against acquisitions, focusing on transactions that offer strategic benefits and immediate value rather than pursuing scale alone.
About Tidewater (NYSE:TDW)Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.
The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.
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Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
E.l.f. Beauty (ELF +6.70%) shares surged after the cosmetics and skin care company reported strong fiscal first-quarter results and lifted its full-year outlook. The growth was led by a better-than-expected performance from its Rhode brand, which e.l.f. acquired in August of 2025.
The stock is up more than 20% on the year, but it's still down about 16% over the past year.
Let's take a closer look at e.l.f's results and prospects and why I think the stock's momentum can continue.
Image source: The Motley Fool
Rhode leads the way Rhode once again was a standout for e.l.f. in the quarter, contributing $160 million in sales. This included the brand scoring a record $27 million in sales from its website in a single day following the launch of new summer products. The company thinks Rhode could reach $1 billion in yearly sales faster than any beauty brand ever has.
The company is seeing record demand for Rhode products, helped by expanded product assortment, a launch at LVMH Moet Hennessy Louis Vuitton's Sephora stores, and overseas expansion. Rhode is currently in only 20% of Sephora stores globally and will be entering 19 new European markets this fall.
Organic growth, excluding its acquisition of Rhode, was down in the high single digits. The company said this stemmed from the lapping of the launch of its popular e.l.f. Glo reviver melting lip balms and the fact that it shipped products out earlier a year ago ahead of switching enterprise resource software systems, which manage internal operations such as finance and supply chain. The company also tested e.l.f. brand pricing in the quarter, determining that about 10% of its products could benefit from lower prices but that the vast majority were priced correctly.
One of the brand's big growth initiatives moving forward is entering the hair-care space. It launched six products in the category in June at Target and sees this as a $17 billion market in the U.S. that is growing faster than cosmetics and skin care. Meanwhile, it said it continues to see strong growth in skin care with both its namesake brand and Naturium. It called Naturium the fastest-growing skin care brand among the top 50 brands.
Overall, for fiscal Q1 (ended June 30), e.l.f. Beauty sales jumped 36% year over year to $479.4 million, easily topping the analyst consensus of $430 million compiled by London Stock Exchange Group.
Adjusted earnings per share (EPS), meanwhile, nearly doubled from $0.89 to $1.75, but included a traffic refund. Excluding the traffic refund, adjusted EPS would have been $1.07, a 20% increase. That still crushed the $0.71 analyst consensus. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 93% to $168 million and were up 36% excluding the tariff refund. Gross margin, excluding the tariff refund, rose 350 basis points.
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Looking ahead, e.l.f. raised its full-year guidance across the board. It now expects revenue to grow between 18% and 20% to $1.938 billion-$1.968 billion, up from a prior outlook of $1.835 billion-$1.865 billion, or growth of 12% to 14%. It said the improved forecast comes from the momentum it is seeing across its brands.
It also boosted its adjusted EPS guidance to $3.50-$3.55, up from an earlier forecast of between $3.27 and $3.32. Adjusted EBITDA is now projected to be between $401 million and $407 million, up from $379 million-$385 million.
Why the stock still looks like a buy E.l.f. remains one of the best growth stocks in the consumer space, in my view. The Rhode acquisition is going well, and the brand's growth drivers are still in the early innings. Increasing Rhode's product assortment and expanding its distribution were always the best ways to grow the brand, and the company is executing on this strategy at the controlled pace you'd like to see. Sephora will ultimately be the first step, and e.l.f. still has a long runway to get into more of Sephora stores. Meanwhile, its summer launch showed the pent-up demand for a wider Rhode product assortment.
In addition, I really like the move of the e.l.f. brand into the hair care space. This should be a nice growth driver, and I think other category extensions, like fragrance, could add other future growth levers. Meanwhile, the company still has a nice international expansion opportunity.
With a forward price-to-earnings ratio (P/E) of less than 25 based on next fiscal year's earnings estimates, e.l.f. is at one of its cheaper valuation levels over the past few years and should have plenty of room to run from here.
Microsoft podle článku nabízí vyváženější expozici k kvantovému počítání než IonQ, Rigetti nebo D-Wave, protože ji staví na už ziskovém AI a cloudovém byznysu. Azure Quantum už běží v reálných pracovních postupech zákazníků.
If you want quantum computing exposure without betting the farm on a pre‑profit science project, I think a case is building that Microsoft (MSFT +0.03%) is the more interesting option right now.
Microsoft is a $3 trillion AI stock whose own quantum roadmap has matured quietly in the background, and with sentiment cooled after a year of worry about AI spending, you're getting that quantum upside at what looks like a multiyear valuation low instead of peak euphoria.
Image source: Getty Images.
Microsoft is already a quantum platform Microsoft doesn't market itself as a quantum stock, but its Azure Quantum materials read like a company that has spent years building a full stack.
Azure Quantum is a cloud service where developers can run quantum programs today on hardware from partners such as IonQ (IONQ +11.86%), Rigetti (RGTI +8.53%), Quantinuum (QNT -0.29%), and Pasqal, or on advanced simulators, using the same Azure environment they use for AI and high-performance computing. That matters. Quantum is not off in a lab. It's already being wired into Microsoft's mainstream developer tools and cloud workflows.
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In its quantum overview, Microsoft describes Azure Quantum as an "open, flexible, and future-proofed path" that adapts to how customers actually work. The company is effectively acting as the orchestrator, sitting between enterprise demand and multiple hardware providers. That is a very different position from a single hardware vendor trying to persuade the world to come and build on its island.
Azure Quantum Elements and the long game The part that really shifts the story for me is Azure Quantum Elements. In 2023, Microsoft announced this system with a bold goal: Compress 250 years of chemistry and materials science progress into the next 25. Quantum Elements combines Azure high-performance computing, AI models from the AI4Science team, and quantum capabilities to let scientists search a vastly larger design space for new materials and molecules than classical tools alone can handle.
In its own words, Microsoft talks about speeding up some chemistry simulations by factors in the hundreds of thousands and expanding candidate materials from thousands to tens of millions. Customers are already using this stack to reshape their research pipelines today while preparing for scaled quantum hardware later. That is exactly the kind of "earn while you learn" model you want as an investor. The company now makes money from AI and high-performance computing while building the bridge to a future quantum supercomputer.
Why this looks different from pure plays Contrast that with the pure-play names. IonQ's latest investor materials outline a roadmap to multimillion-qubit systems by 2030 and highlight its position as a full-stack quantum platform spanning computing, networking, and sensing. Rigetti is focused on superconducting hardware, touting a 108-qubit processor available through Amazon Braket and a letter of intent for up to $100 million in U.S. government funding. D Wave is selling a 4,400-plus-qubit Advantage2 annealing system, emphasizing connectivity, coherence, and energy-efficient processing for optimization and materials use cases.
These companies are pushing the frontier and deserve credit for it. They are also, by design, narrow bets. Revenue is still modest, funding is lumpy, and their fortunes depend heavily on how quickly quantum workloads move from pilots to production. If you get the timing wrong, you're exposed to both technology risk and capital markets risk.
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With Microsoft, quantum is one pillar inside a much broader AI and cloud story. Azure Quantum rides on top of a business that already generates massive cash flows from AI, cloud infrastructure, and software, and that can fund long-duration R&D in topological qubits without betting the company. If the quantum timeline slips, you'll still be a leader in AI and cloud. If the timeline holds and Microsoft's qubit approach works, you're suddenly holding a stock that controls both the classical and quantum rails of the next computing era.
To me, the practical takeaway is simple. If you want exposure to quantum, but you also care deeply about downside protection, Microsoft offers a more balanced way in than IonQ, Rigetti, or D Wave. You get immediate participation in AI and cloud, plus optionality on quantum computing that's already being woven into real customer workloads, all at a valuation the market has derated from its AI peak.
Molson Coors potvrdil výhled na fiskální rok 2026, i když ve 2. čtvrtletí na konstantní měnové bázi klesly čisté tržby o 3,6 % a zisk před zdaněním o 27,8 %.
Anheuser-Busch Stock Jumps as Volume Growth Signals TurnaroundMolson Coors Beverage NYSE: TAP reaffirmed its fiscal 2026 outlook despite a weaker second quarter marked by declining sales, lower profit and persistent inflationary pressures, as the brewer cited volatile consumer behavior and intense competition in several markets.
On a constant-currency basis, second-quarter net sales revenue fell 3.6% from the prior year, underlying pretax income declined 27.8%, and underlying earnings per share decreased 22.9%, Chief Financial Officer Tracey Joubert said during the company’s earnings call.
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Market Whispers: Is Molson Coors the Next Big Beverage Buyout?“The industry remains pressured. Our share performance is not yet where we want it to be, and cost inflation remains significant,” Joubert said. Still, she said pricing, mix, cost savings, portfolio actions and capital allocation continued to support the company’s plan.
Beer Demand Slows as Consumer Behavior Shifts Molson Coors said the U.S. beer industry declined an estimated 4.2% in the second quarter, following a comparatively stronger first quarter. U.S. domestic shipments fell 7.3%, within the company’s expected range of a 6% to 9% decline.
Beer’s Big Comeback? 2 Stocks Poised to Benefit in 2026President and Chief Executive Officer Rahul Goyal attributed some of the quarter’s pressure to higher gasoline prices and broader uncertainty related to the conflict in Iran, which affected consumer confidence and spending. He said demand patterns shifted toward convenience and dollar stores, as well as singles and smaller packs, while food and grocery channels were weaker.
“Folks were making choices in a way differently in terms of their expendable income,” Goyal said.
The World Cup created opportunities for beer consumption, particularly in on-premise locations in host cities, but did not materially lift demand across the entire U.S. market, according to Goyal. The company invested in local activations in cities including Dallas, Philadelphia and Kansas City.
Management maintained its view that full-year U.S. industry volume trends will be better than the 5% decline reported for 2025, assuming no further escalation in geopolitical events. However, executives cautioned that the category is likely to remain volatile through the second half.
Portfolio Results Were Mixed Across Brands and Markets Goyal said Molson Coors saw improving share trends from the first quarter, though the company remains dissatisfied with its overall share performance. The company reported gains in portions of its value, core, above-premium and beyond-beer portfolio.
Core brands: Coors Light held its position as Canada’s top light beer, while Coors Banquet grew U.S. share and brand volume. Carling faced stronger competition in the United Kingdom. Value brands: Share trends improved for Keystone Light and Miller High Life. Demand for the limited-release Keystone Light Apple exceeded production, and the company plans to return the product in the fall. Molson Coors also plans to bring back Keystone Ice. Above-premium beer: Peroni’s U.S. brand volumes rose by double digits, while the broader Blue Moon franchise remained under pressure. Blue Moon Non-Alcoholic and Peroni 0.0 both grew brand volume. Beyond beer: Net sales revenue growth from Monaco, Topo Chico Hard and Fever-Tree was partly offset by declines in other products, including Simply Spiked. The company said its first full quarter of ownership of Atomic Brands, which includes Monaco Cocktails, tracked slightly ahead of acquisition expectations for both top- and bottom-line contribution. Monaco sales are concentrated in five states and primarily in convenience stores, and Goyal said the company intends to expand the brand nationally in a measured way while preserving its existing execution model.
Fever-Tree posted its highest U.S. quarterly sales since the partnership began, following a national campaign centered on at-home mixology, management said.
Cost Pressures Remain Significant Higher aluminum-related costs, fuel prices and freight expenses weighed on the quarter. Joubert said the Midwest premium added about $40 million in year-over-year costs to second-quarter cost of goods sold.
For the full year, the company now expects Midwest premium inflation to exceed $130 million, compared with its initial expectation of at least $125 million. The company expects hedging to offset part of the ongoing pressure, though Joubert described the market as difficult and expensive to hedge.
MG&A expenses rose 3.2% in the quarter, largely because the company lapped lower employee incentive costs in the prior year and increased investment in technology and capabilities. Molson Coors now expects MG&A expenses to decline in the second half from the prior-year period as it redirects spending toward higher-return opportunities and realizes benefits from its cost program.
The company is pursuing a previously announced three-year, $450 million cost-savings program. Actions include restructuring in EMEA and APAC, including the closure of a small U.K. brewery and other operational changes. Molson Coors is also investing part of its previously announced $650 million global capital-expenditure plan in supply-chain upgrades, including work at its Rocky Mountain Metal Container can plant.
Balance Sheet and Capital Allocation During the quarter, Molson Coors refinanced and retired a portion of its debt through public and private placement offerings. Its net debt-to-underlying EBITDA ratio was 2.53 times at quarter-end, nearing its target of less than 2.5 times by year-end.
The company paid $90 million in dividends and repurchased 1 million shares for $42 million during the quarter. Since its repurchase plan was announced in October 2023, Molson Coors has bought back 15.3% of its Class B shares outstanding and had $2.35 billion remaining under its authorization.
Management said it will continue balancing investments in brands and capabilities, acquisitions, shareholder returns and debt reduction. Goyal said the company’s Horizon 2030 strategy is intended to build growth gradually across its core beer brands, premium offerings and beyond-beer portfolio rather than relying on any single initiative to change its trajectory.
About Molson Coors Beverage (NYSE:TAP)Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.
In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.
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Sysco ve 4. čtvrtletí fiskálního roku 2026 překonala očekávání: tržby přesáhly 22 miliard USD a upravený EPS byl 1,53 USD. Firma zároveň čeká ve fiskálním roce 2027 růst čistých tržeb o 6 % až 7 %.
3 Defensive Stock Alternatives to Bonds If Interest Rates DropSysco NYSE: SYY reported fourth-quarter fiscal 2026 results that exceeded its prior expectations for adjusted earnings per share and U.S. foodservice volumes, citing accelerating local customer growth, supply-chain productivity gains and early benefits from efficiency initiatives.
Chief Executive Officer Kevin Hourican said the company generated more than $22 billion in quarterly revenue, up 4.7% from the prior-year period, while adjusted earnings per share reached $1.53. For the full fiscal year, Sysco reported adjusted EPS of $4.61, above its previously provided guidance range.
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Today’s market could make Sysco stock break out, will it?“Our business momentum accelerated on a two-year stack basis,” Hourican said, adding that the company expects that momentum to continue into fiscal 2027.
Local, National and International Volumes Rise Sysco’s U.S. Foodservice, or USFS, local case volumes increased 2.6% in the fourth quarter. The company said local case growth improved 130 basis points sequentially on a two-year stacked basis, with June representing the strongest month of the quarter on both a one- and two-year basis.
Are defensive sectors ready to outshine growth in 2024?Local case growth was 0.5% in the first half of fiscal 2026 and 2.9% in the second half, according to Hourican. He attributed the improvement to better sales-colleague retention and productivity, as well as targeted growth programs including Sysco Your Way, Perks 2.0 and the company’s AI 360 sales tool.
Sysco said AI 360 is intended to identify selling opportunities, including opportunities to convert customers to Sysco Brand products. The company’s independent customer business grew faster than the overall industry as it exited the fiscal year, Hourican said.
Sysco Brand mix in the local business rose 30 basis points year over year to 46.4% in the fourth quarter. Sales of the company’s value-tier items grew four times faster than its overall business, which Hourican said represented new cases from customers previously purchasing comparable products from competitors.
National contract case volume also rose 2.6%, supported by growth in healthcare, travel and hospitality, and foodservice management. That growth was partly offset by industrywide softness in national restaurant traffic. Sysco said it expects positive national contract volume growth in fiscal 2027, despite continued pressure on restaurant foot traffic.
International local case volume grew 4.5%, while international sales increased 6.7%, gross profit rose 7.3% and adjusted operating income increased 15.7%. The quarter marked Sysco’s 11th consecutive quarter of double-digit adjusted operating-income growth in its international segment.
Profit Growth and Supply-Chain Productivity Quarterly gross profit increased 3.7% to $4.1 billion, although gross margin declined 17 basis points to 18.7%. Interim Chief Financial Officer Brandon Sewell said gross-margin comparisons were affected by unusually large strategic-sourcing benefits in the prior-year fourth quarter and higher fuel costs during the latest period.
Adjusted operating expenses grew 3.6%, slower than gross profit and revenue. Adjusted operating income increased 4.1% to $1.1 billion, and adjusted EBITDA rose 4.7% to $1.3 billion.
The company said warehouse and delivery operations achieved their productivity targets for the year. On-time delivery performance improved by 10 percentage points versus customer promise windows during the fourth quarter, while routing initiatives lowered cost to serve. Sysco also reported its third consecutive year of reducing miles driven and improving pieces per mile.
For fiscal 2026, free cash flow rose 16.3% to $2.1 billion. Sysco ended the quarter with a net debt leverage ratio of 2.7 times. The company paid $1 billion in dividends during the year and repurchased $200 million in shares before suspending annual repurchases in connection with its planned Restaurant Depot transaction.
Fiscal 2027 Outlook Includes Extra Week and Cost Savings Sysco’s fiscal 2027 outlook is based on the standalone business and includes a 53rd week. The company expects net sales growth of approximately 6% to 7%, reaching roughly $90 billion, including about 1.5% to 2% inflation and roughly 2% growth from the additional week.
USFS local case growth of approximately 2.5%. Adjusted EPS growth of 9% to 11%, or approximately $5.02 to $5.12 per share. First-quarter adjusted EPS of approximately $1.18 to $1.20. Approximately $100 million of in-year cost savings, representing about $160 million on a run-rate basis. About $1 billion in dividends and continued double-digit profit growth in the international segment. Management said the cost-savings program includes AI-enabled projects across sales, merchandising, supply chain and back-office operations. Sewell said savings will begin toward the end of the first quarter and be weighted toward the second half of the year, with a greater contribution from USFS.
Hourican said the company’s work includes upgraded routing software, improved inventory forecasting, technology tools for indirect procurement and AI-assisted contract management. He said the initiatives are intended to improve customer service while reducing administrative work and structural operating costs.
Restaurant Depot Deal Remains Targeted for Third Quarter Sysco reiterated that it expects to close its acquisition of Restaurant Depot by the third quarter of fiscal 2027. The company received a second request from the Federal Trade Commission during the quarter, which Hourican said was expected.
Management said the transaction is expected to produce $250 million of cost synergies through procurement and expand the Restaurant Depot format to more than 125 new geographies over time. Sysco also said it does not intend to raise prices at Restaurant Depot stores and believes combined purchasing and supply-chain capabilities could strengthen the retailer’s value offering.
Restaurant Depot leadership told Sysco that sales grew approximately 4% in its most recently completed calendar quarter, with operating margins in line with expectations, according to Hourican.
Sysco said it remains focused on preserving cash, improving working capital and reducing debt after the transaction. In June, the company added $2 billion of interest-rate hedges related to transaction financing. Management said excess cash flow generated through efficiency improvements will be directed toward faster deleveraging.
About Sysco (NYSE:SYY)Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.
Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.
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TransDigm zvýšil výhled pro fiskální rok 2026 po výsledcích za 3. čtvrtletí nad očekávání; nyní čeká tržby 10,51 mld. USD a EBITDA As Defined 5,52 mld. USD.
Airplane Maintenance Companies That Keep Flights Moving Are Ready to SoarTransDigm Group NYSE: TDG raised its fiscal 2026 sales, EBITDA and commercial aftermarket outlook after reporting third-quarter results that management said exceeded expectations, supported by growth across commercial OEM, commercial aftermarket and defense markets.
President and Chief Executive Officer Mike Lisman said the company generated healthy sequential and year-over-year revenue growth in all three primary market channels. He said TransDigm’s commercial transport aftermarket business grew 18% from the prior-year period, while commercial OEM sales rose into the double digits as Boeing and Airbus production rates continued to increase.
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RKLB, ASTS, TDG: Insiders are Selling These 3 Space Stocks“As a result, we are raising guidance for the year,” Lisman said. The company increased the midpoint of its fiscal 2026 revenue outlook by $150 million and raised the midpoint of EBITDA As Defined guidance by $100 million.
Third-Quarter Market Performance Co-Chief Operating Officer Patrick Murphy said total commercial OEM revenue increased approximately 17% year over year on a pro forma basis, with commercial transport OEM revenue rising 25%. The commercial transport figure excludes the business-jet submarket.
TransDigm’s Edge: From Spare Parts to Sky-High ProfitsMurphy attributed the commercial OEM growth primarily to production improvements at Boeing and Airbus. He also said commercial OEM bookings significantly outpaced sales during the quarter, and the company’s book-to-bill ratio remained “solidly positive.”
Total commercial aftermarket revenue increased approximately 17% from the prior-year period, excluding recently acquired Jet Parts Engineering and Victor Sierra Aviation Holdings. Commercial transport aftermarket revenue increased 18%, driven by growth in engine, passenger and interior-related markets, while freight revenue was roughly flat in the quarter.
Management said commercial aftermarket bookings exceeded expectations for a third consecutive quarter, while point-of-sale activity at distributors increased by a double-digit percentage. Although the conflict in the Middle East has affected revenue passenger miles and caused some airlines to adjust capacity, Lisman said TransDigm had not experienced a material impact on its aftermarket business.
Defense revenue rose approximately 11% year over year, with both OEM and aftermarket revenue increasing. Murphy said defense aftermarket growth ran slightly ahead of OEM growth, while bookings increased both sequentially and year over year and exceeded sales for the period.
Margins, Cash Flow and Capital Structure TransDigm reported an EBITDA As Defined margin of 52.8% in the third quarter. Lisman said the margin improved sequentially from the second quarter as higher volumes and operating performance supported results across market channels.
The quarterly margin included more than two percentage points of dilution from recent acquisitions, including an approximately half-percentage-point sequential headwind related to Jet Parts Engineering and Victor Sierra Aviation Holdings. Management said it expects margins at acquired businesses to expand over time.
Chief Financial Officer Sarah Wynne said organic growth was approximately 13% in the third quarter. The company generated approximately $870 million of free cash flow in the quarter and $2.1 billion year to date. TransDigm now expects full-year free cash flow of approximately $2.6 billion, up from its prior $2.5 billion outlook.
The company ended the quarter with $2.8 billion of cash and a net debt-to-EBITDA ratio of 5.8 times. Wynne said TransDigm targets a net debt-to-EBITDA range of five to seven times. Approximately 75% of its $33.7 billion gross debt balance is fixed through fiscal 2029 through fixed-rate notes and interest-rate instruments, she said.
During the quarter, TransDigm repurchased approximately $980 million of common stock, or about 800,000 shares, at an average price of approximately $1,208 per share. Year-to-date repurchases totaled $1.8 billion.
Acquisition Activity Lisman addressed TransDigm’s withdrawal from its proposed acquisition of Stellant Systems after the Department of Justice indicated it intended to challenge the transaction. He said the company disagreed with the DOJ’s view but decided that litigation-related complications and timing constraints in the purchase agreement warranted ending the pursuit.
Lisman characterized the outcome as a one-off event and said it would not alter the company’s M&A strategy. He said TransDigm continues to see activity across commercial and defense aerospace markets and retains more than $10 billion of acquisition capacity.
The company recently agreed to acquire Prince & Izant from Industrial Growth Partners for approximately $1.1 billion in cash. Prince & Izant designs and manufactures brazing alloys and specialty metal components for aerospace and defense, aeroderivative turbine and transportation applications. The business is expected to generate approximately $360 million of revenue in calendar 2026.
TransDigm also said its integrations of Simmonds Precision Products, Jet Parts Engineering and Victor Sierra Aviation Holdings were progressing well. Management did not include Jet Parts Engineering and Victor Sierra Aviation in its pro forma market reporting for the quarter because those businesses are still being integrated into its reporting structure.
Raised Fiscal 2026 Outlook At the midpoint of its revised guidance, TransDigm expects fiscal 2026 revenue of $10.51 billion, representing approximately 19% growth from the prior year. The company now expects:
Commercial OEM revenue growth in the mid-teens percentage range. Commercial aftermarket revenue growth in the low-double-digit percentage range. Defense revenue growth in the high-single-digit to low-double-digit percentage range. The midpoint of EBITDA As Defined guidance was raised to $5.52 billion, up approximately 16% from the prior year, with an expected margin of about 52.5%. Adjusted earnings per share are now expected to be $41.04 at the midpoint of guidance.
Management said the outlook assumes Boeing and Airbus maintain their production rates through the remainder of TransDigm’s fiscal year. Murphy said the company’s supply chain has performed sufficiently to support customer demand, though TransDigm continues to monitor broader supply-chain conditions.
About Transdigm Group (NYSE:TDG)TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components and systems for commercial and military aerospace applications. The company's product portfolio covers a broad range of mission-critical parts and subsystems, including mechanical and electromechanical components, ignition and fuel system parts, sensors and actuators, cockpit and cabin systems, and other safety-critical hardware. TransDigm supplies original equipment manufacturers (OEMs) as well as the aftermarket, providing spare parts, repair and overhaul services and component support throughout an asset's life cycle.
TransDigm's operating model places emphasis on proprietary, niche components that are difficult to replace, and the company operates through a collection of independently run subsidiaries and brands that sell specialized products.
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Teleflex ve 2. čtvrtletí překonal očekávání tržbami i upraveným ziskem na akcii, ale kvůli pomalejší integraci Vascular Intervention snížil celoroční výhled růstu pro forma upravených tržeb v konstantní měně.
Teleflex NYSE: TFX reported second-quarter revenue and adjusted earnings above its expectations, supported by strong growth in its Vascular and Surgical businesses, while slower-than-anticipated integration of its acquired Vascular Intervention business weighed on Interventional results.
Revenue from continuing operations totaled $570.3 million in the second quarter, up 28.9% on a GAAP basis and 4.7% on a pro forma adjusted constant-currency basis. Adjusted earnings per share rose 1.7% year over year to $1.76. Adjusted operating margin was 19.6%.
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President and CEO Jason Weidman, who said he has spent his first two months visiting sites, meeting employees and customers, and reviewing the portfolio, said the company is focused on completing divestitures, reducing debt, repurchasing shares and addressing stranded costs. He described 2026 as a transition year and said the company expects a “meaningful step-up” in financial performance in 2027 and beyond.
Segment Performance Vascular revenue increased 8% year over year to $246.3 million, driven primarily by hemostatic products and the central access portfolio. Surgical revenue rose 9.2% to $112.1 million, led by ligation clips, instruments and skin staplers.
Interventional revenue declined 1% to $211.9 million. While hemostatic products, right-heart catheters, intraosseous products and complex catheters outperformed, Weidman said the business was affected by continuing integration and restructuring activity following the Vascular Intervention acquisition.
Weidman said the issues were not product-related and identified three main transition areas: order-to-cash system changes, distributor transitions and sales-force realignment. He said the acquired BIOTRONIK Vascular Intervention revenue base was disproportionately affected by the disruption.
The company had initially expected the integration to be largely completed around the middle of 2026, but now expects full integration to extend through the second half. Weidman said Teleflex has mitigation plans in place and has “really good confidence” it can work through the issues by year-end, although sales-force ramping will occur gradually as new hires and training progress.
Management said Vascular and Surgical are expected to continue performing solidly in the second half, though at more moderate growth rates than in the first half. Teleflex cited some inventory buildup at major Vascular distributors and tougher comparisons in Surgical, particularly in its instrument portfolio. The company said it has not seen an impact from broader procedure-volume trends or from the expiration of Affordable Care Act subsidies.
Divestitures, Debt Reduction and Buybacks Teleflex completed the sale of its OEM business during the quarter, generating approximately $1.5 billion in proceeds, or an estimated $1.25 billion after tax. The company used a portion of the proceeds to repay the $700 million Term Loan A-2 associated with its Vascular Intervention acquisition.
The company remains committed to its previously announced plan to reduce debt by $800 million and return $1 billion to shareholders through share repurchases. During the second quarter, Teleflex repurchased about 1.9 million shares for $250 million in open-market purchases, at an average price of $130.85 per share.
Teleflex also said it intends to begin an additional $250 million accelerated share repurchase on Aug. 7. Management said it expects the remaining $500 million of its repurchase plan to be funded largely with proceeds from the pending sale of its Acute Care and Interventional Urology businesses.
That transaction remains expected to close in the fourth quarter of 2026, subject to regulatory approval and other closing conditions. The Federal Trade Commission issued a second request for information in March, and Teleflex said both parties are cooperating with the review.
Net leverage was about 2.8 times at the end of the second quarter, while pro forma net leverage following the OEM divestiture was about 1.9 times, according to CFO John Deren.
Updated 2026 Outlook Teleflex lowered its full-year outlook for pro forma adjusted constant-currency revenue growth to 3.5% to 4.5%, from its prior range of 4.5% to 5.5%. The reduction reflects first-half performance and the longer timeline for Interventional integration.
Weidman said the lower end of the range assumes no improvement in Interventional revenue from second-quarter levels for the remainder of the year, along with typical third-quarter seasonality.
Adjusted EPS guidance was raised to $6.90 to $7.20, from $6.25 to $6.55. Adjusted operating margin is still expected to be approximately 19% for 2026. Full-year net interest expense is now expected to be about $85 million, down from a prior estimate of about $105 million. The adjusted tax rate is expected to be approximately 12.25%, compared with the prior outlook of roughly 13.5%. Deren said the higher earnings outlook reflects second-quarter share repurchases and lower expected interest expense. Guidance does not include potential benefits from the pending Acute Care and Interventional Urology sale, additional second-half repurchases beyond the announced accelerated program, or tariff refunds.
The company expects about $39 million in tariff refunds in cash overall, according to Deren, though the timing remains uncertain. Teleflex said approximately $15 million related to 2026 tariffs recorded in the first half could be recognized in earnings once confirmed by the U.S. government.
Innovation Programs Teleflex highlighted recent progress in its innovation pipeline. The FDA granted biologics license approval in late July for EZPLAZ Freeze-Dried Plasma, which is approved for adults with uncontrolled traumatic bleeding when plasma is required and other plasma products are unavailable. The product is designed for use in settings such as battlefields and air or road ambulances, where traditional plasma products can face logistical constraints.
Weidman said Teleflex’s immediate priority for EZPLAZ is the U.S. government and military market. He expects any 2026 revenue to be immaterial but said the product should contribute in 2027.
The company also advanced its Freesolve drug-eluting resorbable magnesium scaffold program. Teleflex completed enrollment ahead of schedule for the BIOMAG-II randomized trial outside the U.S., with a data readout expected in late 2027. It also initiated the U.S. BIOMAG-III pivotal trial, with the first patient procedures completed in June.
Weidman said the company is encouraged by early clinical data and views Freesolve as a potential option in coronary and endovascular procedures that seek to “leave nothing behind.”
About Teleflex (NYSE:TFX)Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.
The company's offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.
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Southwest Gas oznámila za 2. čtvrtletí upravený zisk na akcii (EPS) 0,45 USD, meziročně z 0,37 USD, a potvrdila výhled pro rok 2026 i dlouhodobý výhled.
Southwest Gas NYSE: SWX reported second-quarter 2026 adjusted earnings per share from continuing operations of $0.45, up from $0.37 in the prior-year period, as lower parent-level interest expense and regulatory progress supported results. Reported earnings per share from continuing operations were $0.58, including revenue recognized following a California rate-case decision.
President and CEO Justin Brown said the adjusted result excluded the retroactive portion of California revenue that had been deferred in a memorandum account since the first quarter because of the timing of the rate-case approval. He said the company is reaffirming its 2026 and long-term guidance ranges.
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“Our regulatory strategy doesn't depend on any single outcome, giving us multiple credible paths to achieve our objectives regardless of how individual cases unfold,” Brown said.
Interest Savings and Utility Results Jay Ford, senior vice president of financial planning, said the year-over-year earnings improvement was driven primarily by the holding company’s performance, partially offset by slightly lower utility earnings. The holding company benefited from the repayment of all outstanding parent-level debt, reducing interest expense by approximately $8.6 million from the second quarter of 2025. Higher interest income on elevated cash balances also contributed.
Operating margin increased $12.7 million from a year earlier, including $6.7 million of incremental margin from rate relief and $1.4 million from customer growth, Ford said. Debt recovery-related items added $4.9 million to operating margin, though that benefit was offset by comparable depreciation and amortization expense.
Operations and maintenance expense declined $3.7 million, or nearly 3%, reflecting lower outside services, bad debt expense, and lease and rental costs. Depreciation and amortization increased $8.7 million, driven principally by a 7% rise in gas plant and service versus the prior-year quarter.
Other income declined $9.4 million, with Ford citing lower utility interest income, reduced non-service pension gains, weaker corporate-owned life insurance investment performance, the absence of a prior-year gain on sale, and higher charitable contributions. The company ended the quarter with approximately $270 million in cash and nearly $1 billion in available liquidity, Brown said.
Rate Cases Advance in Three States Southwest Gas said its 12-month ended return on equity at the utility was 8.1%, or 8% on an adjusted basis, compared with a weighted-average authorized return of 9.89%. Management said pending rate cases and recovery mechanisms are intended to improve earned returns over time.
In California, a recent commission decision resolved all matters except cost of capital and is expected to provide approximately $40 million of incremental annual revenue. The decision allowed the company to recognize about $9.7 million of incremental second-quarter net income tied to previously deferred memorandum-account margin. A final decision on the cost-of-capital component is expected later in August, according to Brown.
In Nevada, the company updated its general rate-case request to approximately $74 million in annual revenue after filing certification materials incorporating post-test-year plant adjustments through May. Intervening parties have recommended an average revenue increase just under $40 million, or about 52% of the company’s request, and their testimony has converged around a 9.3% return on equity with equity ratios ranging from 50% to 51.35%.
The Nevada hearing was scheduled for later in August, while the company also continued settlement discussions. Management said the case remains on track for an October 2026 effective date.
Arizona’s general rate case is proceeding toward an expected April 2027 effective date, with intervener testimony anticipated in late September. Brown said the company would seek areas of agreement with parties as positions become more defined.
Great Basin Expansion Scope Increases Great Basin made additional progress on its planned 2028 expansion project, executing binding precedent agreements that brought contracted demand to approximately 1 billion cubic feet per day. The company also cited expressions of interest for another 1.8 Bcf of capacity across the region during the 2029-2035 period.
In response to demand, Southwest Gas revised the project design to use a 48-inch pipeline rather than a 42-inch pipeline. The larger design is intended to support up to 1 Bcf per day of incremental transportation capacity beyond currently contracted volumes through future compression additions.
The revised project is now estimated to require about $2.3 billion in capital investment and to generate approximately $270 million to $300 million in annual incremental margin once completed. Brown said the company expects to file for a Federal Energy Regulatory Commission certificate of public convenience and necessity before year-end, target approval in late 2027, and pursue a fourth-quarter 2028 in-service date.
Management said it does not expect the increase in contracted demand to alter the regulatory schedule. Brown added that the company does not anticipate supply-chain issues from changing the pipe design, citing earlier coordination with suppliers on the ability to move to a 48-inch specification.
Financing Plan and Outlook The company expects to issue $400 million of utility-level debt during the remainder of 2026 and said it does not anticipate equity issuance this year outside its dividend reinvestment plan. Ford said Southwest Gas will renew and extend its at-the-market equity program when it updates its shelf registration, characterizing that action as a routine renewal rather than an indication of near-term issuance.
Management expects only modest equity needs for the expanded Great Basin project and said holding-company leverage capacity could absorb much of the utility’s anticipated equity requirements. At quarter-end, consolidated net debt was approximately $3.4 billion after considering purchased-gas-adjustment balances payable to customers.
Southwest Gas reiterated plans to invest approximately $1.25 billion in capital expenditures during 2026. Its existing five-year plan, based on year-end 2025 rate base of $6.7 billion, supports projected rate-base growth of 9.5% to 11.5% annually through 2030. The additional approximately $600 million of expected capital spending for the Great Basin expansion has not yet been incorporated into current long-term guidance and is expected to be addressed in the company’s five-year planning update next February.
About Southwest Gas (NYSE:SWX)Southwest Gas Corporation NYSE: SWX is a publicly traded natural gas utility that provides regulated gas distribution services to residential, commercial, industrial and electric generation customers. The company's core activities include the transportation, distribution and sale of natural gas through an extensive network of pipelines, service lines and metering facilities. Southwest Gas also offers related services such as system maintenance, pipeline safety inspections, emergency response and line extensions to support customer growth and ensure reliable gas delivery.
Founded in 1931 in southern Nevada, Southwest Gas has grown through strategic acquisitions and organic expansion to become one of the nation's larger natural gas utilities by customer count.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Super Micro Computer oznámil za čtvrtletí nové objednávky přesahující 60 miliard USD a rekordní backlog. Zároveň očekává tržby u spodní hranice pásma 11 až 12,5 miliardy USD, ale hrubou marži 15 % až 17 %.
Super Micro Computer (SMCI +5.96%) recently told investors something that would normally be considered great news. This producer of high-performance and high-efficiency computer servers said it booked more than $60 billion in new orders in a single quarter.
And yet the stock still trades around $30 per share. That disconnect between order book and valuation is what makes Supermicro (as it is also known) so interesting right now.
In late July, Supermicro released a preliminary update for its fiscal fourth quarter (ended June 30) that focused almost entirely on demand and margins, not just headline revenue. Management said new orders during the quarter exceeded $60 billion, pushing its backlog to a record level as it closed out fiscal 2026.
Image source: Getty Images.
At the same time, Supermicro guided revenue to come in near the low end of its $11 billion to $12.5 billion-dollar range, but estimated gross margins of 15% to 17%, roughly double the 8.2% to 8.4% it had told investors to expect earlier. For a company that was not long ago seen as a lower-margin box builder, that is a very different story.
Massive server orders are coming in Those orders are not just random server deals. In June, Supermicro announced that it had received huge AI server orders in recent weeks and laid out a plan to raise $7 billion through concurrent equity and equity-linked financing to fund the components needed to fulfill them. The company described this as part of its role as a "Total IT Solution Manufacturer for AI, Cloud, Storage, and 5G/Edge," essentially betting that being early and aggressive in AI infrastructure will matter more than short-term dilution.
To me, the combination of a $60 billion order wave and a financing package sized to meet it suggests customers are not just kicking the tires; they are committing real money to build AI data centers on Supermicro's designs.
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So why does the stock still trade at roughly $30 instead of at some nosebleed AI multiple?
Part of the answer sits in the cautious language Supermicro uses in its own update. It explicitly notes that not all of those orders constitute firm commitments and that some may be subject to cancellation or delays. It also discloses that its board is overseeing an independent review of certain transactions related to alleged export control issues, and that its independent auditor has not yet reviewed the preliminary figures. Add in the large equity issuance needed to fund those orders, and you end up with real questions about how much of the current backlog will translate into high-margin, shareholder-friendly cash over time.
In other words, the market is hearing "$60 billion in AI orders" and "much better margins," but it is also hearing "some orders are not binding," "we are issuing a lot of stock," and "there is an internal review going on." That mix of huge opportunity and nontrivial risk is exactly why Supermicro can sit at a multiyear valuation low while quietly holding one of the largest AI server order books on the planet.
Teradata zvýšila celoroční výhled non-GAAP EPS na 2,65 až 2,73 USD a upraveného volného cash flow na 330 až 350 milionů USD po silném druhém čtvrtletí.
Snowflake Boosts Growth by Doubling Down on AITeradata NYSE: TDC reported second-quarter results marked by growth in recurring revenue, expanded operating margins and higher free cash flow, while reaffirming its full-year outlook for total annual recurring revenue, total revenue and recurring revenue. The company raised its full-year non-GAAP earnings-per-share guidance and adjusted free-cash-flow forecast.
President and Chief Executive Officer Steve McMillan said the company’s first-half performance reflected demand for its hybrid data platform as enterprises work to move artificial intelligence initiatives into production. “Our hybrid capabilities and our on-prem strength in particular, continue to resonate with customers running the most demanding and regulated workloads,” McMillan said.
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Second-Quarter Financial Results Teradata Corporation Stock is a Turnaround PlayChief Financial Officer John Ederer said total ARR rose 1% year over year as reported, or 2% in constant currency. Cloud ARR increased 8% as reported and 9% in constant currency. Ederer said Teradata remains focused on total ARR growth, noting that the mix between cloud and on-premise subscriptions can vary by quarter.
Total revenue was $410 million, flat year over year, exceeding the high end of company guidance by two percentage points. Recurring revenue rose 3% as reported to $363 million, or 2% in constant currency, and exceeded the high end of guidance by three percentage points. Consulting services revenue fell 24% year over year to $39 million, although the company said bookings improved and project backlog increased. Non-GAAP operating margin expanded to 21.5% from 16.4% a year earlier. Non-GAAP diluted EPS was $0.69, exceeding the top end of Teradata’s outlook by $0.12. Adjusted free cash flow was $127 million for the quarter. Ederer attributed the revenue outperformance primarily to the timing of revenue recognition in the on-premise business. Total gross margin increased 220 basis points year over year to 60.5%, aided by a greater mix of recurring revenue. Recurring revenue gross margin rose 30 basis points to 67.8%.
Teradata ended the quarter with a net cash position of $323 million, an increase of $528 million from a year earlier. The company repurchased approximately $40 million of stock, or about 1.3 million shares, during the quarter and paid off the remaining $450 million balance on its term loan.
AI Platform Rollout and Customer Activity McMillan highlighted the company’s May launch of the Teradata Autonomous Knowledge Platform, which is intended to support enterprise agentic AI deployments across cloud, on-premise and hybrid environments. He said the platform, including its AI Studio component, reached general availability in early in the third quarter.
The platform includes Teradata Cloud capabilities designed to support always-on and elastic compute needs; Teradata Factory, an on-premise offering developed with Dell Technologies that combines CPUs and GPUs; Teradata AI Studio; and Tera, a natural-language interface for data analysis, coding and multi-agent orchestration.
McMillan said enterprises are contending with production challenges in AI. Citing a company survey of 1,000 senior technology and data leaders, he said 90% expect to increase agentic AI investment over the next year, while nearly two-thirds have seen only small or emerging positive returns so far. He said 40% of surveyed technology leaders reported that more than 40% of their AI pilots had not reached production because their infrastructure was not designed to support them.
The company also made its data analyst agent available through AWS Marketplace and expanded support for native open table formats. Teradata has joined the Agentic AI Foundation and said its Enterprise Model Context Protocol server is already in use with customers.
McMillan cited several early customer engagements, including a South Asian telecommunications company that selected Teradata Factory for an AI modernization project; a Japanese banking group implementing Teradata Cloud, AI Studio and AI Services; and an expansion with a North American financial institution using AI Studio. He also said a U.S. healthcare company expanded its on-premise production system to support government regulations.
Gartner named Teradata a “visionary” in its 2026 Magic Quadrant for AI platforms for data science and machine learning, according to McMillan.
Outlook and Revenue Timing Teradata reaffirmed its full-year outlook ranges for total ARR, total revenue and recurring revenue. It increased its full-year non-GAAP diluted EPS outlook to $2.65 to $2.73 and raised adjusted free cash flow guidance to $330 million to $350 million.
For the third quarter, the company expects recurring revenue to decline 4% to 2% year over year and total revenue to decline 6% to 4%. Teradata forecast non-GAAP diluted EPS of $0.55 to $0.59 for the quarter.
Ederer said the anticipated second-half revenue declines reflect the accounting timing of on-premise subscriptions under ASC 606 rather than a change to the company’s annual expectations. More revenue from on-premise subscriptions was recognized upfront during the first half, leaving less revenue to recognize in the third and fourth quarters.
Management said it expects modest sequential dollar growth in ARR from the second to third quarter and continues to anticipate that most of its annual ARR growth will occur in the fourth quarter. McMillan said the company has not included substantial upside from its newly launched products in its current guidance.
Capital Allocation and Hardware Costs Ederer said Teradata’s current capital-allocation priorities are organic research and development, followed by share repurchases and strategic mergers and acquisitions. The company continues to target 50% of adjusted free cash flow for buybacks, excluding the benefit from the SAP settlement.
On hardware availability and pricing, Ederer said Teradata has sufficient inventory for its existing platform through 2026. He said potential supply-chain and pricing pressure could affect the newer Teradata AI Factory offering, but the company is focused on pricing the product to protect margins. McMillan added that the Dell partnership provides access to Dell’s purchasing capabilities and has helped expedite deliveries for some early AI Factory orders.
About Teradata (NYSE:TDC)Teradata Corporation is a global provider of enterprise analytics and data management solutions designed to help organizations unlock value from their data assets. The company offers both cloud-based and on-premises platforms that support data warehousing, big data analytics, and machine learning. Through its flagship analytics ecosystem, Teradata enables businesses to integrate, analyze, and manage large volumes of structured and unstructured data at scale.
Central to Teradata's product suite is the Teradata Vantage analytics platform, which unifies diverse data types across multiple environments—including public and private clouds—into a single, coherent architecture.
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The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Sempra potvrdila výhled upraveného zisku na akcii (EPS) pro rok 2026 na 4,80 až 5,30 USD a pro rok 2027 na 5,10 až 5,70 USD. Ve 2. čtvrtletí vzrostl upravený zisk na 762 mil. USD, tedy na 1,16 USD na akcii.
3 Stocks Investing $650 Billion in the U.S.—Should You Invest?Sempra Energy NYSE: SRE affirmed its 2026 and 2027 earnings guidance as management highlighted higher earnings across its business segments, a planned asset-sale strategy and growing transmission investment opportunities in Texas during its second-quarter earnings call.
The company reported second-quarter 2026 GAAP earnings of $796 million, or $1.21 per diluted share, compared with $461 million, or $0.71 per share, in the prior-year quarter. On an adjusted basis, earnings rose to $762 million, or $1.16 per share, from $583 million, or $0.89 per share, a year earlier.
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3 Utility Stocks to Weather Market StormsChief Executive Officer Jeff Martin said the company’s operating businesses were executing well and that year-to-date adjusted earnings per share showed double-digit gains, with positive contributions from each of its three growth segments.
Guidance and Capital Plan Chief Financial Officer Karen Sedgwick said Sempra reaffirmed its full-year 2026 adjusted EPS guidance range of $4.80 to $5.30 and its 2027 range of $5.10 to $5.70. The company also maintained its projected long-term EPS growth rate of 7% to 9%.
Sedgwick said the company remains focused on closing the pending sale of a 45% equity stake in SI Partners, strengthening its balance sheet after the transaction and advancing its $65 billion capital plan. The transaction is expected to close later in the third quarter.
Martin said the SI Partners sale supports Sempra’s strategy of simplifying its business model, recycling capital into regulated utilities and reducing the need for common equity under its current capital plan. The transaction is also expected to deconsolidate nearly $9 billion of debt from Sempra’s balance sheet.
Management said it expects Texas to become a larger share of the company’s operations, with a goal for the state to account for more than 60% of Sempra’s total rate base by 2030.
Texas Demand and Oncor Investment Opportunities Sempra emphasized growth prospects at Oncor, its Texas electric transmission and distribution business, as ERCOT recorded an all-time peak load of 91 gigawatts in July. Oncor’s five-year base capital plan totals $47.5 billion, supplemented by $10 billion in identified incremental capital opportunities through 2030.
The incremental opportunities include $4 billion of North and Central Texas transmission upgrades endorsed by ERCOT, $3 billion of non-Permian Basin reliability projects endorsed in 2025 and approximately $3 billion associated with a system resiliency plan filing expected next year.
Martin said Oncor expects its next five-year capital-plan update on Sempra’s fourth-quarter call. He said management expects the plan to increase and that the business has flexibility to sequence projects within its capital program.
The Public Utility Commission of Texas recently approved ERCOT’s Batch Zero process for evaluating and sequencing large-load interconnection requests. Sempra said 44 GW of load requests could be eligible as base or studied load on Oncor’s transmission system, including 27 GW classified as base load and 17 GW requiring further system-wide reliability analysis.
That potential load would equal a 140% increase over Oncor’s current system peak load of 31 GW. About 8 GW of the 44 GW is already connected and expected to ramp toward full utilization, according to management. Oncor holds nearly $6 billion in collateral from large-load customers, including more than $2 billion related to the Batch Zero submissions.
Management said any transmission projects ultimately required through Batch Zero would be incremental to both Oncor’s base plan and its currently identified incremental opportunities. ERCOT’s timeline for identifying potential transmission projects is expected to extend beyond February 2027, meaning Oncor’s next capital-plan update is not expected to include Batch Zero-related investments.
Oncor CEO Allen Nye said the company’s overall interconnection queue reached 298 GW. He said the difference between a previously cited 127.5 GW advanced pipeline and the 44 GW in Batch Zero reflects stricter requirements under the finalized Batch Zero rules, including completed studies, financial security, site control and contracting-resource attestations.
Infrastructure Projects and Balance Sheet Martin said Sempra Infrastructure is progressing on the planned sale of Ecogas in Mexico after receiving a regulatory approval, with the transaction expected to close later in August.
At ECA LNG Phase 1, Sempra Infrastructure CEO Justin Bird said the company identified damage to equipment connected to mixed refrigerant compressors following planned maintenance and inspections after its first cargo export in July. The company is working with its engineering, procurement and construction contractor and the original equipment vendor on the cause and remediation plan.
Bird said ECA LNG Phase 1 is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale-and-purchase agreements beginning shortly afterward. He said the company does not anticipate further delays and that ECA’s substantial completion is not a condition precedent for the SI Partners transaction.
Management also said Port Arthur LNG Phases 1 and 2 remain on time and on budget.
Sedgwick said the SI Partners transaction is central to Sempra’s credit-improvement efforts. She said Moody’s is monitoring the closing of the transaction, associated debt deconsolidation and progress on infrastructure-project milestones. Sedgwick said she expects rating-agency changes could come early next year, while noting the company is meeting regularly with rating agencies.
California Wildfire Discussions and Leadership Changes Management said it remains constructive on California legislative discussions regarding wildfire liability and broader affordability and insurance issues, but declined to assess potential proposals before bill language is available.
Martin said the company’s California rate base is growing at roughly 5%, compared with utility-platform growth of approximately 11% at the enterprise level. He said Sempra believes its existing California capital plan is appropriately sized to support safety, reliability and affordability.
At the end of the call, Martin announced that Sedgwick will become the incoming chief executive officer of Southern California Gas Co. Justin Bird will become Sempra’s incoming chief financial officer. The leadership rotations are expected to take effect around the close of the SI Partners transaction later in the quarter.
About Sempra Energy (NYSE:SRE)Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company's product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
SharkNinja ve 2. čtvrtletí zvýšila tržby o 22,2 % na 1,77 miliardy USD a upravený zisk na akcii na 1,26 USD. Firma zároveň zvýšila celoroční výhled tržeb na růst 16 % až 17 %.
The FTC Is Suing Hims & Hers Health—Here's Why Investors Shouldn't PanicSharkNinja NYSE: SN reported second-quarter 2026 results marked by accelerating sales growth, higher adjusted earnings and a raised full-year outlook, as the company cited broad demand across domestic and international markets, product categories and sales channels.
Net sales increased 22.2% year over year to $1.77 billion in the quarter, extending the company’s streak of double-digit sales growth to 13 consecutive quarters. Domestic sales rose 15.5% to $1.14 billion, while international revenue climbed 36.6% to $624 million.
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5 Tech Stocks to Buy on the July PullbackChief Executive Officer Mark Barrocas said the company’s performance reflected the breadth of its business rather than reliance on a limited number of viral products or newly created categories. He said SharkNinja’s existing categories have generally grown at a mid-to-high-single-digit rate over the past three years, with international expansion and new category launches adding to its growth profile.
Category Growth Led by Cooking, Beauty and Home Environment SharkNinja reported growth across each of its four major product categories. Cooking and beverage sales rose 36.5% to $499 million, supported by continued momentum in the Ninja Luxe Café and Ninja Crispi franchises. Food preparation sales increased 13.3% to $459 million, with blending identified as the strongest contributor and frozen treats also growing.
Build On a Strong Earnings Season With These 3 ETFsBeauty and home environment revenue increased 65.3% to $286 million, driven by the Shark beauty technology portfolio and contributions from home-environment subcategories. Cleaning sales increased 4.1% to $522 million, with cordless vacuums and carpet extraction contributing to growth.
Barrocas said the company continued introducing products within established categories during the quarter, including additions to its vacuum lineup and the Ninja BlendBoss tumbler blender. He said roughly 20 of SharkNinja’s 25 annual product launches are typically introduced in existing categories.
The company also launched the Ninja Crispi Microwave, which combines microwave cooking with air frying through its FusionCrisp technology. Barrocas said the product places SharkNinja in a new, multibillion-dollar market and brings its total subcategory count to 40. During the question-and-answer session, he said the company expects to enter its 41st subcategory by the end of the third quarter.
International Expansion and Social Commerce International sales growth was led by the United Kingdom, Europe and Latin America. U.K. revenue rose 18.7% to $255 million, with strength in beauty, home environment and heated cooking products. The company also cited strong growth in France, Germany, Mexico and other Latin American markets.
SharkNinja recently converted Italy and Spain from distributor-led markets to direct markets, and Barrocas said the company has completed distributor conversions for the foreseeable future. It also completed the rollout of its direct-to-consumer platform across major international markets.
The company is expanding its social-commerce strategy, particularly through TikTok Shop. SharkNinja was active on TikTok Shop in seven countries at the end of the quarter, compared with none a year earlier, and Barrocas said the company aims to operate in more than double that number by the holiday season. He said the company expects to be on TikTok Shop platforms in 13 countries.
Social commerce is being used both to support new product launches and to bring younger consumers into established categories, according to Barrocas. He cited the Ninja NeverDull knife system as an example, saying TikTok Shop has become one of the top three sales channels for the product category in the U.S.
During the call, Barrocas said direct-to-consumer and affiliate channels are expected to grow faster than the broader business through 2027. Chief Financial Officer Adam Quigley said direct-to-consumer, TikTok Shop and broader social-commerce channels have structurally higher gross margins than traditional retail channels.
Profitability, Cash Flow and Tariff Effects Adjusted gross margin declined about 70 basis points year over year to 48.7%, as tariffs remained the primary headwind. Quigley said the company partially offset tariff pressure through cost optimization and favorable product and channel mix.
Adjusted operating expenses totaled $629 million, or 35.6% of sales, compared with 36% of sales in the year-earlier quarter. SharkNinja has generated leverage in adjusted operating expenses as a percentage of sales for five consecutive quarters, Quigley said.
Adjusted EBITDA increased 18.6% to $265 million, representing a 15% margin. Adjusted net income rose to $178 million, or $1.26 per diluted share, from $138 million, or $0.97 per diluted share, a year earlier.
Cash and cash equivalents totaled nearly $780 million at quarter end, while total debt was $719 million. Cash flow from operations was nearly $275 million through the first six months of 2026. The company repurchased about $100 million of stock during the second quarter.
Raised 2026 Outlook SharkNinja raised its full-year outlook, citing stronger underlying operating performance and an expected tariff-refund benefit. The company submitted refund claims totaling approximately $247.1 million to U.S. Customs and Border Protection in July, and the agency accepted the claims, according to Quigley.
The company expects to recognize the $247.1 million benefit as a reduction in cost of sales, with a corresponding receivable, during the third quarter. SharkNinja said part of the benefit will be reinvested in retail activation, media, technology and artificial intelligence capabilities, as well as efforts to address tariffs and input-cost pressure.
Full-year net sales are now expected to increase 16% to 17%, compared with prior guidance for 11.5% to 12.5% growth. Adjusted diluted earnings per share are forecast at $6.45 to $6.55, up from the previous range of $6.00 to $6.10. Adjusted EBITDA is expected to reach $1.36 billion to $1.37 billion, representing growth of 19.5% to 20.5%. Quigley said approximately $0.15 of the $0.45 increase in adjusted diluted EPS guidance is tied to the expected net tariff-refund benefit. About $30 million of the $67 million to $69 million increase in adjusted EBITDA guidance is also associated with that benefit.
Barrocas said SharkNinja expects its domestic business to grow at a double-digit rate during the second half of 2026. He said the company sees additional opportunity through retailer partnerships, direct-to-consumer operations, social commerce and further international market expansion.
About SharkNinja (NYSE:SN)SharkNinja NYSE: SN is a leading designer, marketer and distributor of innovative small home appliances under the Shark® and Ninja® brands. The company's product portfolio spans floorcare, cleaning and home environment products, including upright, cordless and robotic vacuum cleaners, steam mops and air purifiers. In the kitchen category, SharkNinja offers a broad range of cooking and food preparation solutions, such as countertop ovens, air fryers, multicookers, blenders and coffee makers. Its products are positioned to deliver user-friendly performance, innovative features and durable design for everyday household tasks.
Founded in 1998 as Euro-Pro Operating LLC, the company initially focused on the European market before expanding its presence in North America.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
TDS Telecom ve 2. čtvrtletí přidala asi 66 000 adres pro optickou síť a zvýšila celoroční výhled na 250 000 až 300 000 adres. Zároveň snížila výhled tržeb na 1 mld. až 1,025 mld. USD kvůli tlaku v měděných a kabelových sítích.
2 Mid-Cap Telecom Stocks Offering Superior Returns Telephone and Data Systems NYSE: TDS reported second-quarter progress in its fiber expansion and tower operations, while lowering revenue expectations for its telecom business amid continued pressure from legacy copper and cable services. The company also said Array Digital Infrastructure completed major spectrum transactions during the quarter and raised several elements of its full-year outlook.
TDS Chief Executive Officer Walter Carlson said the company would not provide an update on its previously announced all-stock proposal to acquire the Array shares it does not already own. Array’s board has formed an independent special committee to evaluate the proposal.
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Telecom raises fiber build targets The Market Is So Over Overstock...But Is It Now Oversold?TDS Telecom delivered approximately 66,000 marketable fiber service addresses during the second quarter, bringing first-half delivery to about 106,000 addresses. Ken Dixon, president and CEO of TDS Telecom, said the first-half performance was the strongest in company history and exceeded the company’s address delivery in the second half of 2025, traditionally its busiest construction period.
The company increased its 2026 fiber address delivery guidance by 50,000 addresses and now expects to add between 250,000 and 300,000 new marketable fiber service addresses this year. TDS Telecom also raised its capital-expenditure outlook to a range of $625 million to $675 million to support the accelerated construction activity.
These 11 stocks will be Dividend Kings in 5 years or less.TDS Telecom ended the quarter with nearly 1.2 million fiber service addresses, representing 60% of its total footprint, with 80% capable of gigabit speeds. The company said it is using federal Enhanced Alternative Connect America Cost Model, or E-ACAM, support to expand fiber to more than 300,000 addresses in 22 states within its incumbent footprint over the next two years.
Dixon said TDS Telecom has already met its 2026 E-ACAM obligations in three states and has its highest crew counts ever in its remaining E-ACAM markets. He added that the company is seeing strong demand when it brings fiber to markets previously served by copper infrastructure.
Residential fiber net additions totaled approximately 15,100 in the second quarter, up 47% from a year earlier. TDS said it has expanded door-to-door sales capacity, added outside sales vendors, and improved performance through its online channel. The company is also adding sales resources in cable and multi-dwelling-unit markets.
Legacy revenue pressures lead to revised guidance Despite fiber growth, TDS Telecom reported total operating revenue declined 6% year over year in the second quarter, or 4% excluding divestitures. Kristina Bothfeld, vice president of financial analysis and strategic planning, said approximately half of the year-over-year decline reflected discrete wholesale revenue adjustments that benefited 2025 results. The rest was tied to legacy revenue pressure, partly offset by fiber connection growth and higher revenue per connection.
Residential fiber revenue rose 13%, or $11 million, from a year earlier, while cable revenue declined roughly 10%. Total residential revenue decreased by $6 million, including approximately $2 million related to divestitures of primarily copper-based markets.
Cash expenses were flat as cost-management savings were offset by expenses tied to expansion markets and inflation. Capital expenditures totaled $179 million during the quarter.
TDS Telecom reduced its full-year revenue guidance to $1 billion to $1.025 billion, citing pressure in its copper and cable markets. The company narrowed its adjusted EBITDA outlook to $310 million to $330 million.
2026 telecom revenue guidance: $1.0 billion to $1.025 billion. 2026 adjusted EBITDA guidance: $310 million to $330 million. 2026 fiber address delivery guidance: 250,000 to 300,000. 2026 capital-expenditure guidance: $625 million to $675 million. Chief Financial Officer Vicki Villacrez said the company’s balance sheet has been strengthened by transactions completed during the past year, including Array’s June spectrum sale to Verizon. TDS expects its acquisition of Granite State Communications to close in the third quarter, adding 11,000 fully fibered service addresses for $25 million.
Villacrez said TDS continues to evaluate small- and medium-sized fiber acquisition opportunities that fit its clustering strategy and have either existing fiber infrastructure or an economically viable path to full fiber deployment.
Array completes spectrum sales and lifts outlook Array Digital Infrastructure said cash site rental revenue increased 55% year over year from all customers, or 65% when normalized for the impact of DISH. The company stopped recognizing revenue from DISH during the first quarter after DISH generally stopped making payments under its contracts in December and certain DISH entities entered bankruptcy proceedings.
Array reported a tenancy ratio of 0.96 at quarter-end, compared with 0.98 at the end of the prior quarter. The company said that, excluding the removal of DISH co-locations from the metric, it continues to see steady tenancy growth.
Anthony Carlson, Array’s president and CEO, said T-Mobile interim site revenue drove the year-over-year increase in site rental revenue. That revenue began to decline during the quarter as T-Mobile progresses through its network integration. T-Mobile has until January 2028 to finalize 2,015 committed sites under its master lease agreement with Array.
Array narrowed its forecast for tenantless towers following the T-Mobile integration to between 1,000 and 1,700. The company said it is evaluating lease-up opportunities, ground-lease costs, long-term demand and potential decommissioning for sites without a path to economic viability.
During the quarter, Array closed a $168 million sale of 600 MHz, 700 MHz and AWS spectrum licenses to T-Mobile and a $1 billion spectrum transaction with Verizon. Array said it has agreements to monetize roughly 70% of its spectrum holdings, with remaining T-Mobile transactions expected to close by the end of 2026, subject to regulatory approval and other closing conditions.
The company continues to seek opportunities to monetize its remaining spectrum, primarily C-Band holdings. Carlson said Array is not a forced seller and believes the spectrum has substantial value given its availability for deployment and proximity to Upper C-Band spectrum.
Array raised its 2026 total operating revenue outlook to $205 million to $210 million from a prior range beginning at $200 million. It increased adjusted OIBDA guidance to $60 million to $75 million and adjusted EBITDA guidance to $220 million to $235 million. Capital-expenditure guidance was unchanged.
About Telephone and Data Systems (NYSE:TDS)Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.
TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.
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Savers Value Village ve 2. čtvrtletí zvýšila tržby o 7,4 % na 448 mil. USD a upravený EBITDA o 8 % na 75 mil. USD. Firma zároveň zvedla celoroční výhled tržeb na 1,77 až 1,79 mld. USD.
3 Reasons Wall Street Is 100% Bullish on This Recent IPOSavers Value Village NYSE: SVV reported second-quarter results marked by continued U.S. comparable-sales growth, higher profitability in both major markets and an updated full-year outlook that incorporates a phased rollout of its ThriftIQ pricing platform.
Chief Executive Officer Mark Walsh said the company recorded its third consecutive quarter of year-over-year adjusted EBITDA growth, while new-store profitability began to ramp faster than originally anticipated. Management said the combination of store maturation, productivity initiatives and ThriftIQ supports a path toward high-teens adjusted EBITDA margins within the next three years.
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Second-Quarter Sales and Earnings Total net sales rose 7.4% to $448 million in the quarter ended July 4, 2026. On a constant-currency basis, sales increased 7.1%, while comparable-store sales increased 4.4%.
U.S. net sales increased 11.6% to $255 million, with comparable-store sales up 6.6%. Walsh said the U.S. performance was driven by both higher transaction counts and average basket size, with growth across regions, categories and demographic groups. Management said younger and more affluent customers remained the company’s fastest-growing consumer cohorts, while growth was also strong among lower-income shoppers.
Canadian net sales increased 2.2% to $158 million, and comparable-store sales rose 0.8%, including an approximately 70-basis-point benefit from the timing shift of Easter. While management characterized Canadian macroeconomic conditions as stable but sluggish, Canada segment profit increased nearly 16% and segment profit margin expanded 330 basis points.
Chief Financial Officer Michael Maher attributed the Canadian profit improvement to tighter production management, off-site processing improvements and the continued maturation of new stores. He said the company is planning its Canadian business around roughly flat comparable-store sales in the near term.
Adjusted EBITDA increased 8% to $75 million, representing 16.6% of sales. GAAP net income was $22 million, or $0.14 per diluted share. Adjusted net income was also $22 million, or $0.14 per diluted share. U.S. segment profit increased by $10 million to $59 million. Canada segment profit increased by $6 million to $46 million. Cost of merchandise sold declined 170 basis points as a percentage of sales to 43.1%, which Maher said reflected comparable-sales leverage, efficiency initiatives and growth in on-site donations. The improvement was partly offset by the impact of new-store openings.
SG&A expenses rose 15% to $102 million and included a $2 million impairment charge tied primarily to the consolidation of a Canadian warehouse processing facility, as well as $1 million of costs associated with the repricing of the company’s term loan.
ThriftIQ Rollout and Margin Goals The company announced ThriftIQ, a proprietary data-driven platform designed to improve precision and consistency in pricing men’s and women’s apparel. The system has been tested for nearly two years and has priced more than 25 million items across 45,000 brands, according to management.
ThriftIQ is now operational in 58 stores in the U.S. and Canada, including most locations opened during the past six months. Walsh said the platform uses data on brands, categories, price points and sell-through outcomes to recommend pricing while maintaining an average discount of 40% to 70% below traditional retail prices.
Maher said pilot stores using ThriftIQ have generated gross-profit-dollar growth approximately 100 basis points higher than non-pilot stores. He said customers in pilot locations have responded through higher unit sell-through, larger baskets and stronger sales yields, while average prices were the same as or lower than the rest of the store fleet.
President and Chief Operating Officer Jubran Tanious said the platform reduces the subjectivity of the previous grading process. Rather than requiring team members to assess each apparel item’s quality and condition to determine a price, ThriftIQ asks them to identify the brand and uses factors including seasonality and sell-through to establish pricing.
Management said ThriftIQ also has reduced training time for new graders by about half. More than half of the company’s 2025 class of new stores generated positive four-wall contribution during the second quarter, ahead of prior new-store classes.
Maher said Savers expects its innovation agenda, new-store maturation, comparable-sales leverage and other profit-improvement initiatives to support 50 to 100 basis points of annual adjusted EBITDA margin expansion beginning in 2027. The contribution from ThriftIQ is expected to build as deployment expands through 2027 and into early 2028, with full annualization anticipated in 2028 and beyond.
Store Growth, Capital Allocation and Outlook Savers opened four U.S. stores and two Canadian stores in the second quarter. Walsh said a recently opened Burlington, North Carolina, location delivered the highest opening-week sales in company history. The company expects to open approximately 25 stores in 2026, with more than 20 planned in the U.S. across 11 states. Its first Tennessee store is expected to open later this year.
Tanious said the company’s site-selection process, dedicated leadership support for new stores, rollout of ThriftIQ and local marketing efforts have contributed to improved store-opening performance. Management also said on-site donations and GreenDrop accounted for 84.9% of total pounds processed during the quarter, compared with 78.5% a year earlier.
The company ended the quarter with $92 million in cash and cash equivalents and a net leverage ratio of 2.4 times. It repurchased 1.2 million shares at a weighted average price of $8.10. Maher said capital allocation priorities remain funding new-store growth, reducing debt toward a net leverage ratio below two times by the end of next year and opportunistically repurchasing shares.
For fiscal 2026, Savers now expects net sales of $1.77 billion to $1.79 billion, comparable-store sales growth of 3% to 4%, adjusted EBITDA of $265 million to $275 million, and approximately 25 new-store openings. The company forecast net income of $67 million to $76 million, or $0.42 to $0.47 per diluted share.
For the third quarter, management expects total revenue growth to fall between first- and second-quarter levels, with comparable-sales growth moderating somewhat as the company laps stronger comparisons. Adjusted EBITDA is expected to be modestly below the second quarter, primarily due to the timing of new-store openings and related pre-opening expenses. Savers plans to open eight stores during the third quarter.
About Savers Value Village (NYSE:SVV)Savers Value Village, Inc NYSE: SVV is a publicly traded thrift retailer that operates a network of donation-based retail stores. Headquartered in Bellevue, Washington, the company specializes in selling second-hand apparel, footwear, household items, accessories and other pre-owned goods. Through its retail stores, SVV offers value-conscious shoppers the opportunity to purchase quality, gently used merchandise at affordable prices.
At the heart of the company's model is a partnership network with more than 500 nonprofit organizations across North America.
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MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
NuScale Power uvedla, že je připravena na komerční nasazení svých malých modulárních reaktorů díky regulatorním schválením, smlouvám s dodavateli, zajištěnému palivu a silné likviditě. Ve 2. čtvrtletí měla výnosy 0,1 mil. USD a hotovost, ekvivalenty hotovosti a investice přibližně 1,9 mld. USD.
Nano Nuclear’s Air Force Contract Puts Its Short-Squeeze Setup in FocusNuScale Power NYSE: SMR said it is preparing for commercial deployment of its small modular reactor technology, citing regulatory approvals, supplier agreements, fuel readiness and a strengthened liquidity position as demand rises for carbon-free power from data centers, industrial users and utilities.
During the company’s second-quarter 2026 earnings call, President and CEO John Hopkins said the nuclear industry’s near-term opportunity is increasingly shaped by customers seeking clean power on timelines that fit their expansion plans. He said NuScale’s strategy has focused on completing engineering and developing its supply chain before entering construction.
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3 Nuclear Stocks for Investors Willing to Wait Out the Dip“The preconditions for us to move are in place,” Hopkins said in closing remarks. “The regulatory approval exists. Our fuel supply exists. The engineering is mature. The supply chain is mostly contracted.”
Engineering, Regulatory and Supply-Chain Readiness Hopkins contrasted NuScale’s approach with the construction history of the Vogtle AP1000 expansion, saying projects can face delays and cost overruns when detailed engineering is incomplete at the start of construction. He said NuScale has spent years investing in design maturity to reduce execution risk for future projects.
AI’s Power Problem Is Turning Nuclear Stocks Into a Bigger Market StoryThe company said it remains the only SMR company with U.S. Nuclear Regulatory Commission design certification and has received standard design approvals for two designs. NuScale also emphasized that its reactors are designed to use standard low-enriched uranium rather than high-assay low-enriched uranium, or HALEU, which Hopkins said is not commercially available at scale.
NuScale acts as technology systems integrator and engineer of record for an ENTRA1 Energy plant, according to Hopkins. The company said it has assembled a network of more than 60 specialized suppliers and has negotiated agreements with more than half of them.
Doosan Enerbility is producing heavy forgings and major module components for NuScale Power Modules, Hopkins said. Framatome is completing fuel design work under a dedicated agreement, with NuScale saying the arrangement is intended to make fuel available as customers come online. Paragon Energy Solutions received a contract during the quarter to complete final design development for the modules’ safety instrumentation and control systems. In response to analyst questions, Hopkins said forgings are among the principal long-lead items and have been in production for roughly two years. He also said Framatome will manufacture fuel in Washington state and that Paragon’s safety-control work is ahead of schedule.
TVA Discussions and Other Commercial Opportunities NuScale said its strategic partner, ENTRA1 Energy, continues discussions with the Tennessee Valley Authority regarding a potential definitive power purchase agreement. Hopkins characterized those discussions as active and progressing, but the company did not provide a date for an agreement or identify remaining contractual conditions.
Hopkins said NuScale is also in discussions with hyperscalers, data-center operators, utilities, governments and international customers. The company’s immediate commercial focus, however, is helping ENTRA1 advance the TVA opportunity.
NuScale said a potential TVA deployment could range from 6 gigawatts to 8 gigawatts. Hopkins said the company has publicly stated that construction from the first pouring of safety-related concrete to mechanical completion could take less than 40 months, though that timeframe excludes NRC licensing and other preconstruction activities.
The company also discussed potential industrial applications, including electricity supply, district heat, process heat, ammonia production and hydrogen production. Hopkins said NuScale’s emergency planning zone approval and ability to use dry cooling could be important differentiators for industrial sites facing water constraints.
Romania Project Progress NuScale is working with Nuclearelectrica and RoPower to satisfy conditions associated with the Romanian utility’s shareholder approval to advance the Doicești project. The project is intended to deploy six NuScale Power Modules at a former coal plant site.
Hopkins said NuScale completed front-end engineering design work as a subcontractor to Fluor, the project’s prime contractor. He said NuScale and its chief operating officer planned to visit Bucharest later in the month to meet with Romania’s incoming government.
The next phase, described as pre-EPC work, would carry the project toward a final notice to proceed and could take about another year, Hopkins said. He added that if contracts are put in place, the Romanian effort could generate revenue in 2027.
NuScale also said about 60% of the combined operating license application prepared for its prior Carbon Free Power Project could be used for a future U.S. project.
Second-Quarter Financial Results and Liquidity Chief Financial Officer Ramsey Hamady said NuScale reported second-quarter revenue of $0.1 million, down from $8.1 million a year earlier. The decline reflected completion in late 2025 of Fluor’s phase-two front-end engineering design work for the RoPower project, which had no comparable activity in the current quarter.
Hamady said the company closed the quarter with approximately $1.9 billion in cash, cash equivalents and investments, an increase of $900 million from March 31. He described the balance-sheet increase as a proactive measure intended to support long-term capital allocation and commercial readiness.
The company said it expects capital to be directed toward supply-chain agreements, design finalization, fuel systems and working-capital needs as commercialization advances. Hamady said NuScale has not provided formal operating-expense guidance, but said management intends to maintain discipline over spending.
NuScale also opened its 12th Energy Exploration Center during the quarter at the University of Virginia’s College at Wise. The center, supported by a grant from the Virginia Clean Energy Innovation Bank, is designed to provide simulation-based training for future nuclear plant operators, technicians and engineers.
About NuScale Power (NYSE:SMR)NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.
At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.
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BlackSky Technology oznámila silné výsledky za 2Q26: tržby meziročně vzrostly o 50 % na 33,3 milionu USD. Gen-3 už běží na annualizovaném tempu 100 milionů USD.
SummaryBlackSky Technology Inc. delivered strong 2Q26 results, with revenue up 50% YoY to $33.3 million, driven by Gen-3 subscription adoption.Gen-3 constellation is now a genuine revenue and earnings engine, producing a $100 million annualized run rate for high-margin imagery and AI services.Adjusted EBITDA reached $4.7 million (14.2% margin), with flat operating expenses despite higher revenue, signaling meaningful operating leverage as Gen-3 scales.I remain buy-rated on BKSY, seeing accelerating recurring revenue, expanding margins, and multiple growth vectors supporting significant upside as the business scales. PJPhoto69/iStock via Getty Images
Thesis We have just seen BlackSky Technology Inc. (BKSY) deliver on earnings. This call was pretty important since it reinforced my view and a good deal of the market's that the Gen-3
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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Starwood Property Trust vykázal ve 2. čtvrtletí distribuční zisk 152 milionů USD, tedy 0,40 USD na akcii, a pokračuje v řešení neplatičících úvěrů a aktiv REO. Společnost zároveň zvýšila investiční aktivitu a prodloužila splatnost dluhu.
MarketBeat Week in Review – 03/30 - 04/03Starwood Property Trust NYSE: STWD reported second-quarter distributable earnings of $152 million, or $0.40 per share, as the company continued to work through non-accrual loans and real estate-owned assets while increasing investment activity and extending its debt maturities.
Chief Financial Officer Rina Paniry said results continued to reflect the earnings impact of non-accrual and REO assets, as well as elevated cash balances. The company reported no new non-accrual loans, no new five-rated loans and no new REO assets during the quarter or year to date.
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Starwood Shares Have Struggled, but Catalysts Could Signal a Turn“As our new non-accrual and REO loans have slowed, we have gained momentum in resolutions,” Paniry said.
Asset Resolutions and Reserve Position Starwood Property Trust ended the quarter with approximately $1.9 billion of non-accrual and REO assets on a distributable-earnings basis, excluding $706 million of reserves already reflected in book value. The reserve total included $485 million of CECL reserves and $221 million of REO reserves.
Here's Who Wins If Trump's 50-Year Mortgages Come to MarketThe company expects to resolve roughly $800 million, or 40%, of its current non-accrual and REO balance by the end of 2026, subject to market conditions. It is under contract or in discussions to sell three REO properties and multiple units in a New York City residential project. Those transactions are expected to generate $148 million in cash proceeds and resolve $195 million of assets on a distributable-earnings basis during the third quarter.
Paniry said the anticipated sales are expected to produce an approximately $47 million realized loss in third-quarter distributable earnings. One asset was repriced following higher interest rates, creating a $12 million difference from its GAAP mark. Absent that adjustment, she said the company’s GAAP reserves aligned with expected sale prices.
President Jeff DiModica said three multifamily loans were downgraded to four-risk ratings during the quarter: a $73 million property in Phoenix, a $63 million property in Clearwater, Florida, and a $74 million property in Mesa, Arizona. He attributed the downgrades to higher forward rates and pressure on near-term cash flow in some Sun Belt multifamily markets following elevated supply.
Subsequent to quarter-end, two office loans repaid at par for a combined $171 million, reducing U.S. office exposure to 7.6% of assets and global office exposure to 8.9%, both company lows, according to DiModica.
Investment Activity and Segment Results The company deployed $2.5 billion across its businesses during the second quarter and another $1.7 billion in July, bringing year-to-date investment activity to $6.7 billion. DiModica said the company was on pace for a record year of investment activity and expected the third quarter to be its strongest commercial-lending origination quarter.
Commercial and residential lending generated distributable earnings of $186 million, or $0.49 per share. In commercial lending, Starwood originated $1.4 billion and funded more than $1 billion, including preexisting commitments. Following $447 million of repayments, the funded loan portfolio reached a record $17.3 billion.
Infrastructure lending committed $441 million during the quarter, with the portfolio ending at $3.1 billion after comparable repayment activity. DiModica said 92% of the infrastructure portfolio was internally rated one or two, while 97% of loans had public or private Moody’s ratings.
The property segment contributed $34 million, or $0.09 per share, of distributable earnings. At Woodstar, the company’s Florida affordable-multifamily portfolio, Starwood began implementing authorized 8.4% HUD rent increases on July 1. The company expects the earnings benefit to begin appearing in third-quarter results.
Starwood also expects to refinance $416 million of Woodstar debt maturing within six months. Paniry said the company anticipates an approximately $140 million financing upsize, of which Starwood’s share would be about $110 million for reinvestment.
In net lease, distributable earnings rose to $0.05 per share from $0.03 in the prior quarter. The company acquired $179 million of properties during the quarter at a blended 7.39% capitalization rate. The portfolio totaled $2.7 billion across 527 properties in 44 states, with 100% occupancy, zero defaults and a weighted average lease term of 16.8 years.
Capital Markets and Liquidity Starwood completed $2.1 billion of corporate debt transactions in the second quarter, including $1.1 billion of unsecured senior notes and a $275 million increase to its Term Loan B. It also repriced an existing $696 million term loan to SOFR plus 200 basis points.
After quarter-end, the company repaid $400 million of July 2026 notes and prepaid $500 million of January 2027 notes. DiModica said Starwood has no further corporate debt maturities until July 2027 and has extended weighted average corporate debt maturities to approximately three years.
The company had $1.2 billion of current liquidity at quarter-end and a debt-to-undepreciated-equity ratio of 2.74 times. Its unencumbered asset pool totaled $6.9 billion against $4.5 billion of unsecured debt.
Paniry said the early redemption of the January 2027 notes will produce a $6.3 million third-quarter loss on extinguishment of debt because of the termination of an associated interest-rate hedge. However, she said replacing the prior obligation with new 5.875% notes is expected to save more than $15 million over the next five years.
Dividend, Buybacks and Outlook Chairman and Chief Executive Officer Barry Sternlicht acknowledged that the company is not currently earning enough to cover its dividend, but said management remains confident that resolving underperforming assets and redeploying capital into new investments can restore earnings power.
“We’re pretty confident in our ability to get back to the earnings power that we’ll need to drive the dividend and restore our coverage of dividend,” Sternlicht said.
He said the company is not considering a dividend-policy change at present, though it would revisit that position if conditions materially changed. Starwood repurchased $30 million of stock year to date under its $400 million authorization, and management indicated it could become more active in repurchases.
Looking ahead, Sternlicht said Starwood plans to discuss a new business line during its next quarterly update and continues to evaluate acquisition and sector-consolidation opportunities.
About Starwood Property Trust (NYSE:STWD)Starwood Property Trust NYSE: STWD is a publicly traded real estate investment trust that specializes in originating, acquiring and managing commercial mortgage loans and other real estate-related investments. The company's portfolio spans a variety of asset classes, including senior mortgages, mezzanine debt, preferred equity and direct equity investments in commercial properties. By focusing on both debt and equity capital solutions, Starwood Property Trust seeks to generate attractive risk-adjusted returns for its shareholders through a combination of current income and capital appreciation.
Operating primarily in the United States, Starwood Property Trust deploys capital across a broad range of property types, such as multifamily residential, office, retail, hotel and industrial.
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The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Home Depot zveřejní výsledky 18. srpna; analytici odhadují tržby 47,2 miliardy USD a upravený zisk na akcii (EPS) 4,73 USD. Firma sází na růst v segmentu Pro a na akvizici Mingledorff's.
Home Depot (HD +1.75%) will report second-quarter earnings on Aug. 18. Analysts expect revenue of $47.2 billion, up about 4% from the year-ago quarter. Adjusted earnings per share are projected at $4.73, slightly higher than last year's $4.68.
One compelling reason to buy the stock now is Home Depot's roughly $700 billion opportunity in the Pro market -- and it's already translating into results.
Image source: The Motley Fool.
Home Depot is building a hard-to-replicate business serving professional contractors, positioning it for meaningful growth when the housing market recovers.
The company acquired Mingledorff's, expanding Home Depot's reach in heating, ventilation, and air conditioning (HVAC) equipment. It can unlock substantial value from the deal through its SRS distribution network, which includes more than 1,300 branches.
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That Pro exposure could become a major growth engine as the housing market turns the corner. Early signs are encouraging; in the first quarter, Pro posted better comparable sales than do-it-yourself customers.
Meanwhile, Home Depot's core business remained resilient despite a weak operating environment. First-quarter sales rose 4.8% year over year. With the stock recently pulling back and the dividend yield above average at 2.6%, investors may have an attractive entry point to buy shares before improving sales trends send the stock higher.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Home Depot. The Motley Fool has a disclosure policy.
Intel Foundry získává Fortinet jako prvního veřejně oznámeného externího zákazníka za vedení Lip-Bu Tana. Dohoda zahrnuje výrobu nového Security Processor 6 pro firewally FortiGate.
Last month, Intel's (INTC +1.84%) foundry business landed Fortinet as a client. Admittedly, since investors tend to focus on advanced nodes with near exclusivity, many of them might have missed this news.
Still, investors should probably take this news more seriously. Here's why the deal is critical to Intel Foundry and chip stock investors at large.
Image source: The Motley Fool.
The Fortinet deal and what it means to Intel Under the terms of the agreement, Intel Foundry will manufacture its next-generation Security Processor 6, which supports the FortiGate firewall line. In this case, Fortinet provides the front-end design and the architecture. Intel will handle the back-end design, advanced packaging, and manufacturing using the Intel 4 process node.
Although numerous companies have negotiated and agreed to deals with Intel, Fortinet is the first named outside customer under Lip-Bu Tan, who became CEO in early 2025.
It takes Intel into the cybersecurity chip space, helping Fortinet shift away from Taiwan Semiconductor Manufacturing Co. (TSMC), which dominates the foundry industry with a 72% market share, according to TrendForce.
This deal makes Intel a player in the development of cybersecurity ASICs (application-specific integrated circuits). More importantly, it could also lead other cybersecurity companies to follow Fortinet's lead and choose Intel as their manufacturer, helping Intel build a niche that can further challenge TSMC.
Still, investors might struggle with whether this is directly actionable for prospective Intel shareholders right now.
In the second quarter of 2026, revenue was $16.1 billion, with Intel Foundry's business accounting for $5.8 billion of Intel's Q2 revenue. Foundry unit revenue grew 31%, just above the company's 25% target, implying that this part of the business could influence the stock price.
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While that implies that the Fortinet deal should bode well for Intel stock, it is coming off a 400% gain over the last year. Past losses leave it without a meaningful price-to-earnings (P/E) ratio, though the forward P/E of 66 indicates that it has become an expensive stock.
Thus, even if this news helps the company, investors may hesitate to buy Intel shares for now despite this development.
Moving forward with Intel stock Intel's deal with Fortinet could become a new business line for investors, and even if it may not be actionable by shareholders at this time, it could ultimately help make Intel Foundry a reason to own its stock.
Indeed, the Fortinet deal to build a cybersecurity-oriented processor could make Intel a leader in this niche of the chip industry. That could help it challenge TSMC's dominance in the foundry industry.
While that is likely bullish for Intel in the long run, Intel's high valuation could mean that little changes for the stock in the near term.
Instead, the Fortinet deal is a signal to investors to watch for other deals. Assuming Intel Foundry can continue to make agreements, especially in an industry like cybersecurity, it may become a driver for Intel stock in the coming years.
MarketBeat Week in Review – 06/08 - 06/12Spotify Technology NYSE: SPOT reported second-quarter results marked by accelerating revenue growth, record gross margin and subscriber growth that pushed its Premium base above 300 million for the first time.
Co-CEO Alex Norström said the company’s revenue rose 15% year over year on a constant-currency basis, accelerating from 14% growth in the first quarter. Gross margin reached a record 33.4%, while free cash flow continued to strengthen. Spotify added 7 million net subscribers during the quarter and ended the period with 300 million subscribers, exceeding its guidance by 1 million.
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Spotify's "North Star" Outlook Was Music to Investors Ears“More people are choosing Spotify, they’re engaging more deeply, and they’re converting,” Norström said, adding that active days among global subscribers increased during the quarter.
Financial Results and Third-Quarter Outlook CFO Christian Luiga said monthly active users, or MAUs, grew 12% year over year, including notable outperformance in Europe and North America. Spotify added 16 million net MAUs, which was 1 million below its forecast, and ended the quarter with 777 million users.
Total revenue was EUR 4.8 billion, up 15% year over year on a constant-currency basis. Premium revenue increased about 16%, driven by 9% subscriber growth and 7.4% year-over-year growth in average revenue per user. Ad-supported revenue rose 3%, consistent with the first quarter. Operating income totaled EUR 655 million, above guidance of EUR 630 million, for an operating margin of 13.7%. Free cash flow was EUR 797 million, up 14% year over year. Peloton Stock Gives Back Gains After Upbeat Earnings ReportGross-margin performance exceeded Spotify’s guidance by 30 basis points. Luiga said the result reflected quarterly timing shifts related to growth investments and a small one-time benefit from the cancellation of Canada’s digital services tax, which allowed Spotify to reverse an accrual from prior years.
For the third quarter, Spotify forecast 788 million MAUs, representing net additions of 11 million, and 305 million subscribers, or 5 million net additions. The company expects third-quarter revenue of approximately EUR 5 billion, representing 14% growth, gross margin of 32.9% and operating income of EUR 670 million.
Luiga said Spotify continues to expect advertising revenue growth to “inflect towards double-digit growth” in the second half of 2026. The company also expects both gross margin and operating margin to improve on a full-year basis, along with meaningful growth in free cash flow.
Free-Service Changes and Advertising Buildout Spotify is making product and monetization changes in selected emerging markets, including adjustments to sign-up flows, reduced support for certain lower-end Android devices, changes to advertising load and limitations in the free tier. Norström said the moves are intended to create a higher-quality MAU base and improve monetization over time.
The changes are expected to affect third-quarter MAU growth, but Norström said they should not come at the expense of subscriber growth in the near term. He described the strategy as shifting toward a “monetization lever” after periods of strong user growth in emerging markets.
On advertising, the company said its automated sales channels represented nearly 40% of ad-supported revenue during the second quarter, up from just over 30% in the first quarter. Active advertisers rose 60% year over year to 33,000, according to Norström.
Spotify has completed its migration to an in-house advertising server, with Norström saying that 99% of impressions are now served through its proprietary ad stack. Luiga said the company’s direct-sales channel had experienced expected declines, but that price-optimization work in the channel was completed and it is now stabilizing.
Premium Features, AI and Live Events The company highlighted several new products intended to increase engagement and expand the value of its Premium offering. Its Reserved ticketing feature, launched in the U.S. with Live Nation in June, has supported multiple tours and reserved nearly 100,000 tickets through Spotify. Norström said some allocations sold out and were increased by Live Nation during the run.
Spotify said Reserved is currently focused on adding value for Premium subscribers rather than direct monetization. The product gives eligible users earlier access to tickets while helping artists reach dedicated fans, Norström said.
AI-powered features were also a central focus of the call. Spotify’s DJ feature is used by roughly one-quarter of active users, while Prompted Playlist has attracted about 14 million users out of the first 100 million users to whom it has been rolled out. Söderström said early retention trends for Prompted Playlist are promising.
The company’s large taste model, which uses data from 3.4 trillion daily platform events, has been deployed in its autoplay recommendation system. Söderström said that in the first two months following deployment, active days increased, autoplay minutes and track saves rose significantly, and autoplay drop-off declined.
Spotify also said SongDNA has been used by more than 100 million subscribers, making it among the company’s fastest-adopted features. Other recently introduced or planned products include Talk to Spotify, Personal Podcasts, Studio by Spotify, Running Mode and audiobook Prompted Playlists.
Music Add-Ons and Cost Discipline Norström said Audiobooks+ has surpassed $100 million in annual recurring revenue, while overall audiobook penetration among Premium listeners has more than doubled this year. He described add-ons as a way to drive structural ARPU growth beyond standard Premium price increases.
Spotify is also developing music remix and covers capabilities that would require artist consent, provide attribution and compensate artists, labels, publishers and songwriters. Following an agreement with Universal Music Group announced in May, Spotify said it reached a deal with Merlin, which represents more than 30,000 independent labels and distributors.
Söderström said Spotify does not need agreements with every major label before it begins a research preview of the remix product, though it wants as many participating artists as possible. He said the company plans to use listener preference data from early users to improve the model before a broader launch.
Spotify expects marketing and AI-related investments to add roughly EUR 200 million in operating expenses for 2026. Luiga said the expense increase is not structural, noting that headcount is expected to remain flat for the year. Söderström said the company’s AI costs are largely tied to compute and can be managed through its internal tools, model selection and usage controls.
About Spotify Technology (NYSE:SPOT)Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.
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Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Suncor Energy oznámila rekordní upravený cash flow z provozní činnosti ve výši 5,3 mld. C$ a zvýší zpětný odkup akcií na 500 mil. C$ měsíčně. Silné výsledky podpořila rekordní rafinérská a prodejní činnost.
3 Overlooked Energy ETFs Delivering Strong Returns and IncomeSuncor Energy NYSE: SU said its second-quarter results reflected the completion of major maintenance work and record cash generation, despite unusually severe weather that reduced mining productivity in the Fort McMurray region.
President and Chief Executive Officer Rich Kruger said record rainfall and snow melt during the quarter, with precipitation 50% above the 10-year average and the highest in more than 30 years, affected mining operations. The company estimated the weather reduced second-quarter production by 50,000 to 60,000 barrels per day.
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It's Time to Take Profits on These 2 Overbought Energy StocksUpstream production averaged 761,000 barrels per day in the quarter. However, Kruger said operations had returned to expected rates by late in the second quarter, with preliminary July production of about 870,000 barrels per day, which would represent Suncor's second-highest July output on record.
Weather response and maintenance execution Management said it is incorporating lessons from the weather event into mine planning and operations. Measures include 48- and 72-hour weather outlooks, ore stockpiles in vulnerable areas, pre-securing materials and equipment such as gravel and graders, and using drones to monitor mine conditions in real time.
3 Stocks Built for America’s Affordable Housing RealityPeter Zebedee, executive vice president of upstream, said the company has also advanced its autonomous-haulage “mud mode” software. He said slippage events have fallen 80% from the initial version of the system.
Suncor completed a major Firebag turnaround involving its Plants 93 and 94, which together process roughly two-thirds of Firebag's 250,000-barrel-per-day capacity. The company completed the work in 44 days at a cost of C$118 million, compared with 58 days and C$150 million for a similar turnaround in 2022.
Kruger said the turnaround's production impact was 60,000 barrels per day in the second quarter, 25,000 barrels per day better than the company had planned. The work also extended the next planned turnaround cycle for the two plants to five years from four years historically.
At Base Plant, the U2 Coker turnaround was completed in 46 days, compared with 60 days in 2021, at a cost of C$203 million, down from C$225 million for the prior event. Commerce City refinery maintenance took 50 days, compared with 74 days in 2021.
The company said it remains on track to reduce annual turnaround capital by C$400 million, a target it raised on March 31. Suncor had originally targeted C$250 million in annual reductions over three years and said it reached that objective in two years.
Refining and sales set second-quarter records Upgrader utilization was 93% during the quarter following completion of Base Plant spring maintenance. Year-to-date utilization reached 94%, which Kruger described as a first-half record.
Refining throughput was 471,000 barrels per day, Suncor's second-highest second-quarter level, while network utilization was 92% on its rerated 511,000-barrel-per-day capacity. Montreal and Edmonton, its two largest refineries, processed 151,000 and 161,000 barrels per day, respectively, with combined utilization of 99%.
Product sales reached a second-quarter record of 655,000 barrels per day, marking Suncor's eighth consecutive quarter with sales exceeding 600,000 barrels per day. Jet fuel sales were a record 51,000 barrels per day as the company adjusted its product slate to capture global market value.
Dave Oldreive, executive vice president of downstream, said export capabilities built over several years helped drive sales. Through Burrard and Montreal, Suncor exported 56 cargoes during the first half, nearly matching the 58 cargoes it shipped during all of 2025.
Oldreive said the company increased its West Coast export capacity from three to four cargoes per month last year to five cargoes per month in early 2026, reaching six cargoes in May. In Montreal, Suncor developed a zero-cost logistics option to export jet fuel, enabling it to export 22,000 barrels per day in the second quarter. The company said it now has capacity to export about 25,000 barrels per day of jet fuel from Montreal if market conditions support it.
Cash flow, balance sheet and shareholder returns Chief Financial Officer Troy Little said adjusted funds from operations totaled C$5.3 billion, nearly double the prior-year level and equal to Suncor's all-time quarterly record set in the second quarter of 2022. Adjusted funds from operations per share were C$4.52, nearly 20% above the comparable 2022 quarter, despite average WTI prices being about C$15 per barrel lower, according to Little.
Downstream adjusted funds from operations reached a record C$2.3 billion. Little said the company reported 89% margin capture, but said that excluding the impact of higher renewable volume obligation pricing, margin capture would have been 99%.
Net debt ended the quarter at C$4.5 billion, down 75% from the start of the decade. Suncor returned C$1.8 billion to shareholders during the quarter, including C$1.1 billion in share repurchases and C$706 million in dividends.
The company said it will raise its share repurchase program to C$500 million per month, or C$1.5 billion per quarter, beginning this week. That follows increases from C$275 million per month at the start of 2026 to C$350 million per month in April.
Little said Suncor intends to provide predictable shareholder returns through the commodity cycle while retaining flexibility for material changes in market conditions. He added that management continues to evaluate both dividends and buybacks to meet the preferences of different shareholders.
Second-half outlook and growth optionality Management maintained its upstream guidance and said it expects a stronger second half as major maintenance concludes. The company has one major upstream event remaining in the third quarter, a planned Syncrude coke outage expected to begin Aug. 20 and last 50 days. Downstream maintenance is also scheduled at Montreal and Edmonton.
Kruger said Suncor continues to prepare for potential future growth from its resource base, including work such as seismic activity and delineation drilling. However, he said the company has not shifted to an accelerated growth strategy and will remain disciplined in capital allocation.
Management also said it sees improved policy discussions in Canada following a non-binding memorandum of understanding between five oil sands companies and federal and provincial governments. Kruger said there is still substantial work required to convert those ambitions into definitive agreements and that Suncor's outlook is not materially different from six months ago.
About Suncor Energy (NYSE:SU)Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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SM Energy ve 2. čtvrtletí zvýšila výhled produkce pro druhou polovinu roku 2026 na 435 000 až 440 000 barelů ropného ekvivalentu denně. Zároveň snížila čistý dluh o zhruba 1,1 miliardy USD.
3 Unique AI Software Plays With Strong Analyst SupportSM Energy NYSE: SM reported second-quarter results that reflected its first full quarter as a combined company, highlighting merger synergies, debt reduction, free-cash-flow generation and an increased production outlook for the second half of 2026.
President and CEO Beth McDonald said the company generated $467 million in adjusted free cash flow during the quarter and returned $137 million to stockholders. The shareholder returns included $53 million in dividends and $84 million in share repurchases.
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Nano Nuclear’s Air Force Contract Puts Its Short-Squeeze Setup in FocusMcDonald said the company has actioned about $355 million, or approximately 95%, of its $375 million run-rate merger synergy target. SM Energy raised that target in the prior quarter to nearly double its original estimate, she said.
Second-Quarter Financial Results Executive Vice President and CFO Wade Pursell said adjusted EBITDAX totaled $1.4 billion in the second quarter, while adjusted net income was $526 million, or $2.19 per diluted share.
3 Nuclear Stocks for Investors Willing to Wait Out the DipCapital expenditures were $717 million, below the midpoint of the company’s quarterly guidance of $835 million. Pursell attributed the lower spending primarily to drilling and completion timing. SM Energy reaffirmed its full-year 2026 capital spending guidance of $2.65 billion to $2.85 billion.
The company also reduced full-year recurring general and administrative expense guidance by about $50 million at the midpoint. Pursell said the lower outlook reflected accelerated integration and full capture of G&A synergies, describing it as a durable run-rate reduction.
Debt Reduction and Capital Returns SM Energy reduced net debt by approximately $1.1 billion during the quarter, ending with about $6.25 billion of net debt. The balance sheet included $620 million of cash and an undrawn revolving credit facility at quarter-end.
The company used proceeds from its Galvan asset divestiture in South Texas to redeem all $819 million of senior notes due in 2026. It also issued a redemption notice for its remaining 2027 senior notes, leaving no senior-note maturities until mid-2028, according to Pursell.
McDonald said the Galvan transaction substantially achieved SM Energy’s $1 billion divestiture target within a year of the merger. The sale also high-graded the company’s remaining South Texas position toward higher-margin, liquids-rich development weighted toward the Austin Chalk, Chief Operating Officer Blake McKenna said.
Management reiterated its 80/20 capital-return framework, under which 20% of post-dividend free cash flow is directed toward stock repurchases while the remainder supports the balance sheet. Pursell said the company expects buybacks to increase as leverage reaches the low-one-times range using mid-cycle commodity pricing, though he said investors should currently expect repurchases to remain at the 20% level as a minimum.
Production Outlook Raised Production averaged approximately 440,000 barrels of oil equivalent per day in the quarter, within the company’s guidance range and adjusted for the Galvan divestiture, McDonald said.
For the second half of 2026, SM Energy raised its production outlook to 435,000 to 440,000 barrels of oil equivalent per day, including approximately 238,000 barrels of oil per day. Pursell said the second-half average production rate provides the cleaner baseline for evaluating the company’s 2027 plan because full-year 2026 figures include partial-year contributions from Civitas Resources and the impact of the Galvan sale.
The company said it remains in the early stages of developing its 2027 plan and expects to provide further details on production and capital-spending cadence closer to year-end. Pursell said the program will emphasize disciplined capital allocation and maximizing free cash flow.
Operational Focus Across Basins McKenna said the combined Permian Basin footprint is providing procurement, scheduling and operational flexibility. In the DJ Basin, he said consolidated completion practices, including simul-frac operations, have improved capital efficiency, pad design and scheduling.
In the Uinta Basin, SM Energy has standardized its development program around completion innovations, faster flowback operations and longer laterals. The company is developing four-mile laterals on its contiguous acreage and has deployed simul-frac operations using natural-gas frac fleets, remote frac equipment, a sand-slurry pipeline and dual-string coil drillouts.
McKenna said the company’s completion pace in the Uinta has increased to more than 2,600 feet per day, more than double its early-2026 pace. The initiatives have generated more than $1 million per well in realized drilling, completion and equipment cost savings over the past six months, he said.
During the question-and-answer session, management said its Howard County development approach is not new, though it is incorporating practices from the combined company to unlock additional acreage. McKenna also said four-mile laterals have been a “big win” for the company, while declining to provide detailed comments on completion design.
McDonald said management expects 2027 to show the full earnings power of the combined platform, with a full year of operations, run-rate synergies, fewer one-time costs and a strengthened balance sheet.
About SM Energy (NYSE:SM)SM Energy Company NYSE: SM is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy's operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.
The company's core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Sylvamo ve 2. čtvrtletí zvýšilo upravené EBITDA na 60 milionů USD z 29 milionů USD v 1. čtvrtletí díky vyšším cenám papíru. Firma čeká, že většina letošního volného cash flow přijde ve druhé polovině roku.
Sylvamo NYSE: SLVM reported second-quarter adjusted EBITDA of $60 million, more than double the $29 million recorded in the first quarter, as the company implemented uncoated freesheet paper price increases across its regions. Adjusted operating earnings were $0.03 per share, while free cash flow was negative $23 million, an improvement of $36 million sequentially.
Chief Executive Officer John Sims characterized 2026 as a transition year as the company manages the termination of its Riverdale supply agreement and an extended outage at its Eastover, South Carolina, mill. He said Sylvamo expects most of its annual free cash flow to be generated in the second half.
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Price and Mix Drive Sequential Improvement Chief Financial Officer Don Devlin said favorable price and mix contributed $32 million to adjusted EBITDA versus the first quarter, reflecting paper price increases in all regions, improved mix in the Americas and pulp price increases in Europe. Higher Latin American seasonal demand added $3 million from volume.
Operations and costs improved by $22 million, largely because of green energy credits in Europe and lower overhead. Those benefits were partly offset by $24 million of scheduled maintenance outage costs across all regions and $2 million of higher input and transportation costs. The company also benefited from the non-repeat of a $10 million first-quarter charge from International Paper’s Riverdale mill related to high natural-gas costs.
North American margins rose to 15% in the second quarter from 10% in the first quarter, with Devlin attributing the improvement primarily to price and mix, lower operating costs and modestly lower input costs.
For the second half, Sylvamo expects price and mix to provide a $75 million to $85 million benefit compared with the first half. Devlin said roughly 70% of that improvement is expected to come from pricing, with the majority generated in North America and Europe. Management said pricing benefits should flow through both the third and fourth quarters, with a slightly larger contribution anticipated in the fourth quarter.
Regional Conditions and Costs In Europe, management said industry supply-demand conditions remain challenging, though pulp prices improved through the first half and appear to have stabilized. Sylvamo is implementing another European paper price increase announced for mid-June, with realization expected through the third quarter as costs continue to rise and margins remain at what Devlin described as unacceptable levels.
The company expects higher seasonal demand in Latin America during the second half, supporting volume and geographic mix. It is also continuing to realize price increases in other Latin American export markets, the Middle East and Africa.
In North America, Sylvamo said industry dynamics have improved after International Paper’s Riverdale paper-machine conversion removed 7% of annual uncoated freesheet industry supply. However, the company saw imports rise in the second quarter in response to a 10% global tariff window.
Management expects North American sales and production volumes to decline in the second half because Riverdale supply is no longer available and Eastover’s planned outage will be longer than originally expected. The company also expects to import less product from Brazil and Europe because of tariff changes. Devlin said the company is returning to an estimated $85 million impact from the Riverdale footprint alignment, as a previously anticipated $20 million benefit from Brazilian imports has effectively been eliminated.
Sylvamo expects lower fiber costs in Europe and normalized wood costs in Latin America to more than offset higher energy, chemical and transportation costs associated with the Middle East conflict. Sims said wood costs at the Nymölla mill in Sweden have declined about 20% from their fourth-quarter 2025 peak, with benefits beginning to appear in the third quarter.
Eastover Investments Advance Sims said strategic projects at Eastover remain on track. The mill’s hardwood wood-yard line has operated since May with improved reliability and chip quality, while the softwood line is scheduled to start in the first quarter of 2027.
The Eastover paper-machine speed-up project remains on schedule and budget for completion during the fourth-quarter maintenance outage. It is expected to add 60,000 tons of annual uncoated freesheet capacity, with production ramping early next year.
A new sheeter passed equipment acceptance testing in June and has arrived in the U.S. Sylvamo expects the speed-up project and sheeter to produce $50 million in annual benefits, including an estimated $30 million to $40 million in 2027. The company also completed a sale-leaseback transaction to expand an attached warehouse by 300,000 square feet. That expansion is expected to be completed in the first quarter of 2027 and generate more than $5 million in annual savings.
Eastover paper-machine speed-up: 60,000 additional annual tons of capacity. Paper-machine speed-up and new sheeter: $50 million in expected annual benefits. Warehouse expansion: More than $5 million in expected annual savings. Total expected benefit from the four Eastover-related projects: $55 million annually. Long-Term Targets and Europe Review Sylvamo is advancing a lean transformation program across its operations, beginning with value-stream mapping at its Mogi Guaçu and Três Lagoas mills in Latin America and expanding to its Ticonderoga mill, Sumter sheet plant and corporate functions in North America.
The company set 2030 goals that include eliminating serious injuries, increasing employee net promoter score above 50, improving customer net promoter score by 20 points, exceeding 90% perfect-order performance, and raising overall equipment effectiveness by 400 basis points. It also aims to achieve annual cash-cost improvement at three to five times its 2022-2025 average rate.
On Europe, Sims said management has made progress through improved execution, mix initiatives and cost-reduction efforts at the Saillat and Nymölla mills. Still, he said the company could consider other options in 2027 if it is not satisfied with the long-term outlook. He did not commit to a specific timeline.
Sims said Sylvamo believes it has the potential to generate more than $300 million in annual free cash flow and achieve return on invested capital above 15% as industry conditions improve, capital spending normalizes and investment benefits materialize.
About Sylvamo (NYSE:SLVM)Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.
The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.
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Shake Shack ve 2. čtvrtletí zvýšil tržby o 17,2 % na 417,6 milionu USD, ale ziskovost tlačily dolů náklady na hovězí a provoz. Firma zároveň potvrdila celoroční výhled a čeká EBITDA a čistý zisk na spodní hraně rozpětí.
Investors Are Buying Into Sweetgreen Again—Should They?Shake Shack NYSE: SHAK reported second-quarter 2026 revenue growth of 17.2% as new restaurant openings, positive comparable sales and licensing gains offset pressure from elevated beef, distribution and operating costs.
Total revenue rose to $417.6 million, while company-operated Shack sales increased 17.5% to $403.4 million. Same-Shack sales grew 3.5%, consisting of 2% traffic growth and 1.5% price and mix. The company estimated that World Cup-related activity contributed roughly 90 basis points to comparable sales during the quarter.
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MarketBeat Week in Review – 05/11 - 05/15CEO Rob Lynch said the company delivered its fourth consecutive quarter of positive traffic growth and its 22nd straight quarter of positive comparable sales growth. He said Shake Shack’s approach remains focused on culinary innovation, targeted marketing and digital engagement rather than broad discounting.
Digital channels and menu innovation support traffic Digital sales represented nearly 41% of sales in the second quarter. Comparable app sales increased nearly 30% year over year, according to Lynch, while the app accounted for just over 10% of total channel mix, CFO Michelle Hook said. Management said app customers visit more frequently and spend more annually, and characterized the channel as its fastest-growing and most incremental source of traffic.
Shake Shack Stock Gets Shaken After Earnings MissThe company has used targeted offers across its app and delivery channels to drive customer acquisition and repeat visits. Lynch said incentives are concentrated in digital channels, where Shake Shack sees less cannibalization than with broader promotions. The company plans to expand lifecycle marketing in the second half through behavior-based communications, targeted offers and automated customer journeys.
Shake Shack remains committed to launching its loyalty platform in 2026, though Lynch said it is not expected to be a meaningful revenue contributor this year because the company will initially test and refine the program. Management said it intends for loyalty to extend its “enlightened hospitality” strategy rather than operate solely as a points-based discount program.
On the menu, the barbecue platform featuring the Baby Back Rib Sandwich met expectations, Lynch said. The company has also made the Big Shack a core menu item after strong customer demand, though it has repriced the burger more consistently with its double-burger platform. Lynch said the prior $9.99 price point led to some trade-down from double burgers and created revenue and margin dilution.
Shake Shack introduced a West Coast-inspired menu platform in July, returned the Dubai Chocolate Pistachio Shake and is testing additional chicken and smoked brisket offerings. Management said limited-time offerings can serve different objectives, including traffic generation, trial or higher average checks.
Margins pressured by beef and operating costs Restaurant-level profit totaled $92.7 million, or 23% of Shack sales, down 90 basis points from the prior-year period. Food and paper costs rose 60 basis points to 28.8% of Shack sales, largely reflecting record-high beef prices, promotional activity and a mix shift toward higher-cost menu items.
Blended food and paper inflation was in the low single digits, while beef costs rose by the mid-teens, Hook said. Labor and related expenses improved 60 basis points to 25.1% of Shack sales, aided by labor-management initiatives and operating efficiencies. Other operating expenses increased 80 basis points to 15.6% of Shack sales, driven primarily by delivery commissions, professional-service fees and travel and training associated with the higher pace of openings.
Management expects beef inflation to remain elevated in the second half, though Hook said it should be less pronounced than in the first half. The company also expects continued low-single-digit labor inflation and ongoing pressure from food and operating expenses.
Adjusted EBITDA rose 3.9% year over year to $61.2 million, or 14.7% of revenue. Net income attributable to Shake Shack was $15.7 million, down 8.6% from the prior-year quarter. The company ended the quarter with $308 million in cash and cash equivalents, $250 million of convertible notes outstanding and full availability under its revolving credit facility.
Expansion remains central to growth strategy Shake Shack opened 16 company-operated locations during the quarter, bringing year-to-date openings to 33. The company reiterated its plan to open 60 to 65 company-operated Shacks in 2026. The second-quarter openings were all in existing markets, where management said it continues to see significant whitespace.
Hook said recent new classes of Shacks have generated cash-on-cash returns above 30%. Lynch said the company intends to maintain its development pace and anticipates an even higher number of openings in 2027 as the store base expands.
The licensed business added eight net new Shacks during the quarter. Licensing sales rose 7.6% to $222.4 million and licensing revenue increased 7.1% to $14.2 million. Performance was strong in U.S. airports, Canada, the United Kingdom and parts of China, partially offsetting continued weakness in the United Arab Emirates amid conflict in the Middle East. Shake Shack continues to expect 40 to 45 licensed openings this year.
Management also said it is evaluating additional restaurant formats, including smaller locations with less seating and potentially lower build costs. Lynch said drive-thru locations can work in select real estate opportunities, but are not expected to become the company’s primary development format because Shake Shack is focused on premium food and in-Shack hospitality.
Annual outlook maintained, with profitability at low end Shake Shack said it is maintaining its previously disclosed full-year guidance but expects adjusted EBITDA and net income to land at the low end of their respective ranges, reflecting persistent cost headwinds. During the question-and-answer session, management referenced adjusted EBITDA guidance of $225 million to $235 million.
The company expects tougher sales comparisons in the second half, as it laps marketing and value initiatives introduced in the back half of 2025. Still, management reiterated its goal of low-single-digit same-Shack sales growth for the full year and said it remains focused on sustaining positive traffic through marketing, digital engagement and menu innovation.
Going forward, Shake Shack will stop issuing quarterly guidance and instead provide annual guidance, Hook said. The company said the change is intended to emphasize long-term management and multi-year value creation over quarterly volatility.
About Shake Shack (NYSE:SHAK)Shake Shack, Inc NYSE: SHAK is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.
Shake Shack traces its origins to a hot dog cart opened in New York City's Madison Square Park in 2001 by Danny Meyer's Union Square Hospitality Group.
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The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Tanger zvýšila celoroční výhled Core FFO na 2,45 až 2,52 USD na akcii po růstu Core FFO o 10,3 % meziročně na 0,64 USD ve 2. čtvrtletí. Same-center NOI vzrostl o 3,5 %.
Tanger NYSE: SKT raised its full-year 2026 outlook after reporting second-quarter growth in funds from operations, same-center net operating income and tenant sales, supported by leasing activity, tourism, marketing initiatives and acquisitions.
Core FFO rose 10.3% year over year to $0.64 per share in the second quarter, while same-center NOI increased 3.5%, according to Michael Bilerman, Tanger’s executive vice president, chief financial officer and chief investment officer. The company attributed the NOI gain to higher base rents, tenant reimbursements and growth in other revenue streams.
Management raised its full-year Core FFO guidance to $2.45 to $2.52 per share from $2.42 to $2.50 previously. The new midpoint would represent 7% growth from 2025. Tanger also increased the low end of its same-center NOI growth outlook to 2.75% from 2.25%, while maintaining the high end at 4.25%.
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Leasing activity and tenant demand President and CEO Stephen Yalof said quarter-end occupancy was 96.6%, in line with the year-earlier level but modestly below the first quarter because of Tanger’s recapture of Saks OFF 5th locations. The company has backfill deals in its pipeline and is using temporary tenants in selected spaces while it pursues long-term leases.
Over the past 12 months, Tanger executed more than 650 leasing transactions covering 3.3 million square feet. Blended rent spreads were 10.5%, marking the company’s 18th consecutive quarter of positive rent spreads. Tanger said it has completed or is working on renewals for 70% of its 2026 lease expirations.
Yalof said the company is replacing less productive tenants with brands and uses intended to broaden traffic and spending. He cited Sephora as an example, noting Tanger now has 14 Sephora locations across its portfolio and has replaced some retailers generating about $200 per square foot in sales with retailers producing more than $1,000 per square foot.
Tanger’s trailing 12-month average tenant sales reached $487 per square foot, up 5% from a year earlier. Its occupancy cost ratio was 9.7%, which management said provides room for additional rent growth. The top 25 tenants, representing more than 60 brands, accounted for about 50% of rent, down from more than 60% five years ago. Over that period, Tanger’s portfolio of brands has expanded to more than 800 from approximately 500.
Saks space expected to provide longer-term upside The company recaptured 150,000 square feet of Saks OFF 5th space, which reduced second-quarter occupancy by about 45 basis points sequentially. About half of the space is occupied by temporary tenants and about 70,000 square feet is vacant, Bilerman said.
Doug McDonald, Tanger’s senior vice president of finance, capital markets and treasurer, said the former Saks rents were similar to temporary rents in Tanger’s portfolio. He said permanent replacement rents can often provide a two- to four-times multiplier compared with temporary rents, though Tanger did not provide specific lease rates for the locations.
The company expects some spaces to be filled by single tenants and others to be subdivided for multiple users. Management said temporary tenants are effectively replacing most of the rent Saks had been paying, but permanent leasing will take longer because the boxes average roughly 25,000 to 30,000 square feet. Yalof said the impact from permanent replacements is likely to be weighted toward the back half of 2027, with a larger contribution in 2028.
Consumer traffic, marketing and merchandising Yalof characterized Tanger’s consumer as resilient, citing increased domestic travel, World Cup activity and strong traffic during the summer. He said the company is seeing a younger customer base and has tailored leasing and marketing efforts toward that group.
Tanger said traffic remained positive during the second quarter and continued into July and the back-to-school shopping season. Management said its TangerClub loyalty program has more than 12 million members and that personalized, AI-powered communications have contributed to higher email open rates, wallet downloads and shopper visits.
The company is also expanding food, beverage, entertainment and service offerings. Executives said these uses can keep customers at centers longer and complement traditional retail tenants. Tanger cited additions including Dave & Buster’s, Dave’s Hot Chicken, Shake Shack, Sandbox virtual reality, swim schools and Coach Coffee Shop locations.
Justin Stein, executive vice president and chief revenue officer, said Tanger is seeing demand from brands that historically had not operated in outlet centers. He cited Sephora, Ulta, Victoria’s Secret, Serena & Lily, Pottery Barn and Williams-Sonoma among brands expanding in the portfolio.
Acquisition and balance-sheet activity During the quarter, Tanger acquired Levis Commons Town Center, an open-air lifestyle center in the Perrysburg submarket of Toledo, Ohio. The company expects a first-year return of roughly 8.5%. It is the seventh open-air center and fourth lifestyle center Tanger has acquired during the past three years.
Bilerman said Tanger’s acquisition pipeline is active, though competition for retail assets has increased and cap rates have compressed. The company intends to remain disciplined and focus on transactions where it can use its leasing, operating and marketing platforms to create value.
At quarter-end, net debt to adjusted EBITDA was 4.7 times, flat with year-end 2025 and below Tanger’s target range of five to six times. The company said all debt was fixed-rate, including swaps, with a weighted average interest rate of about 4% and a weighted average maturity of 3.3 years. Tanger ended the quarter with approximately $1 billion of liquidity and plans to use available capital to redeem $350 million of unsecured bonds maturing in early September.
Tanger’s board authorized a quarterly dividend of $0.3125 per share in July, a 7% increase from the prior year. Bilerman said the payout ratio remained in the low-60% range.
About Tanger (NYSE:SKT)Tanger Factory Outlet Centers, Inc NYSE: SKT is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company's portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger's centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.
Founded in 1981 by Stanley K.
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SK Telecom oznámil ve 2. čtvrtletí růst tržeb o 0,5 % na KRW 4,36 bilionu a provozního zisku o 67,3 % na KRW 566 miliard. Tržby z AIDC vzrostly meziročně o 92,5 %.
AI Race Accelerates with Amazon's Investment In AnthropicSK Telecom NYSE: SKM reported second-quarter 2026 consolidated revenue of KRW 4.36 trillion, up 0.5% from a year earlier, as continued data-center growth supported its top line. Consolidated operating income rose 67.3% year over year to KRW 566 billion, reflecting a comparison against cybersecurity incident-related expenses recorded in the second quarter of 2025, along with cost controls and profitability-focused management.
Chief Financial Officer Park Jong-seok said the company’s mobile business was showing a “clear recovery” as SK Telecom focused on customer value and profitability. At the same time, the company said its AI operations were moving from strategy development into execution and expansion, led by investments in AI data-center infrastructure, or AIDC.
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Joby Aviation Goes Airborne as News Flow AcceleratesSK Telecom set its second-quarter dividend per share at KRW 830. Park said the company intends to maintain stable shareholder returns while balancing growth investments, financial soundness and dividends.
Mobile Business Focuses on Retention and Higher-Quality Adds Park said the mobile market had stabilized compared with the prior quarter, and SK Telecom continued to post net additions of handset subscribers by targeting higher-quality customer segments and using differentiated marketing campaigns.
In July, the company introduced new mobile plans that integrate its 5G and LTE pricing structures and simplify its overall offerings. SK Telecom said the changes are intended to improve customer experience and service accessibility, supporting customer retention.
The company did not provide subscriber totals, average revenue per user figures or further mobile-service financial details during the call.
SK Hyper Formed to Pursue AI Data-Center Development SK Telecom announced the establishment of SK Hyper, a dedicated subsidiary for AIDC business development. The company said the new unit will secure land, sites, power and water resources, attract global customers and lead project development for large-scale AI data centers.
Park said securing land and power is an essential prerequisite for the AIDC business. He said SK Hyper was designed to obtain those assets preemptively while creating a more flexible business structure that can actively use external funding.
SK Telecom has committed KRW 750 billion to SK Hyper, including KRW 330 billion planned for investment this year. The funds will initially be used for such activities as securing sites, including in Ulsan, and building substations needed for gigawatt-scale data-center operations. The remaining commitment is expected to be injected in installments beginning next year.
SK Hyper is separate from SK Broadband’s existing data-center business, according to Park. The company said it will use SK Telecom’s relationships with global technology customers and SK Broadband’s data-center construction and operational experience to pursue group synergies.
AIDC revenue increased 92.5% year over year in the second quarter, primarily due to the Pangyo Data Center. Construction of a new Seoul data center began in May. SK Telecom plans to pursue phased expansion toward 5 gigawatts of capacity, depending on customer demand. Management Sees Structural Demand for AI Infrastructure Lee Jae-shin, vice president and head of Global Business Development, said SK Telecom views demand for AI infrastructure as a structural rather than temporary trend. He cited rising demand for inference computing power and broader AI adoption by the public sector and industries.
Lee said global technology companies are increasing related investments, while sites with the power, connectivity and water supply required to operate AI data centers remain limited. He said Korea has competitive advantages in serving global technology companies’ AI infrastructure requirements.
“Currently, discussions with global tech companies are underway with respect to AI infrastructure demand,” Lee said, adding that SK Telecom plans to respond flexibly to customer needs through phased capacity expansion.
Park said the total investment required for the company’s 5-gigawatt goal has not been determined because discussions with potential customers remain ongoing and depend on demand, business models and project schedules. He said SK Telecom expects to use financial investors, strategic partners, project financing and other funding mechanisms for construction and operations.
External Funding Intended to Support Dividends and Financial Discipline Management acknowledged that gigawatt-scale AIDC projects require substantial capital. Park said SK Telecom does not expect to finance the entire construction and operation of planned capacity itself, and instead intends to lead projects while minimizing direct investment relative to traditional data-center development approaches.
Park said the KRW 330 billion planned for this year is manageable given the company’s free cash flow. He added that direct investments would be made with consideration for financial soundness and stable dividend payments.
Separately, Choi Dong-hee, vice president and head of the AI Strategy & Planning Office, said SK Telecom has decided to make a capital contribution to an AI company associated with SK Hynix. Choi said the investment is intended to strengthen SK Telecom’s AIDC competitiveness through access to innovative AI companies, global relationships and AI infrastructure value-chain capabilities. The capital contribution will be paid in installments upon request to limit the impact on earnings, he said.
SK Telecom said it aims to evolve from Korea’s largest telecommunications operator into what it described as Korea’s leading AI infrastructure company, while continuing to rely on stable telecom income to support its expansion.
About SK Telecom (NYSE:SKM)SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.
Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.
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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Palantir po zveřejnění výsledků za 2. čtvrtletí vzrostl asi o 25 %, protože tržby meziročně stouply o 93 % na 1,9 miliardy USD a firma znovu zvýšila celoroční výhled tržeb.
Just a few months ago, it seemed like every piece of good news pushed Palantir Technologies (PLTR +10.32%) stock lower.
The company kept reporting strong results. Demand for its artificial intelligence (AI) software continued to accelerate. Yet investors remained unimpressed. But something changed recently. After another blockbuster earnings report, Palantir stock surged rather than sank.
That doesn't necessarily mean the correction is over. But it may be the market's first signal that investor sentiment is beginning to change.
Image source: Getty Images.
It wasn't just a great quarter, but how the market reacted to it Palantir's second-quarter results were outstanding by almost any measure.
Revenue surged 93% year over year to $1.9 billion, while U.S. commercial revenue jumped 149% as more enterprises adopted its Artificial Intelligence Platform (AIP). Management also raised its full-year revenue guidance again, now expecting approximately 82% growth in 2026. Those numbers suggest the company's momentum is still accelerating, not slowing.
But here's what caught my attention: for months, investors responded to good news with skepticism. Strong earnings weren't enough because many believed the stock had simply become too expensive.
This time, the market reacted differently. Instead of focusing on valuation, investors rewarded Palantir's execution with a roughly 25% surge in its share price following the earnings release. That shift may be more important than the earnings themselves, as it may signal a change in investors' perception of the stock.
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Why the shift in investors' sentiment matters Experienced investors don't just study financial results. They also study how the market responds to those results. When great earnings fail to lift a stock, it often signals expectations are still too high. That was the situation that Palantir had been facing in the last few quarters.
But when the same kind of earnings suddenly trigger a strong rally, it can suggest much of the pessimism has already been priced in. That's not a guarantee the bottom is in, since share prices rarely move in straight lines.
But it can be an early sign that sellers are becoming exhausted and buyers are beginning to regain conviction.
In other words, the biggest change after Palantir's latest earnings wasn't necessarily the business. It was investor behavior.
The business continues to strengthen The market's reaction would mean very little if the underlying business were deteriorating.
Fortunately for shareholders, the opposite appears to be happening. Twelve months ago, investors were still debating whether enterprise demand for Palantir's AI platform would prove durable.
Today, that's unlikely to be the focus. Commercial customers are adopting the platform at a faster pace, revenue growth has accelerated from 85% in Q1 to 93% in Q2, and profitability hit a new record.
What's more, Palantir demonstrates that a company can grow rapidly even though it is already a giant by all measures. CEO Alex Karp even hinted that this is probably just the beginning of its longer-term growth.
Still, that doesn't mean the stock is cheap The improving sentiment doesn't eliminate the biggest risk, that Palantir still commands a premium valuation as investors expect years of exceptional growth. For perspective , Palantir trades at a price-to-sales (PS) ratio of 66 times.
That's both the opportunity and the challenge. If the company continues delivering quarters like its latest one, today's valuation could eventually prove reasonable. But if growth slows materially, investors could once again question whether the premium valuation is justified.
In other words, the central debate on Palantir's stock is not whether Palantir has a great business. The evidence increasingly suggests it does. The real question is whether that business can continue outperforming the lofty expectations already embedded in the stock price.
What does it mean for investors? So, is the worst finally over for Palantir stock? No one can answer that with certainty.
On one level, investors' sentiment has clearly improved since the Q2 earnings result.
Still, one quarter is likely too short a time for investors to make a call on the arrival of a new trend. Besides, the stock still trades at a sky-high valuation.
But if Palantir continues delivering exceptional results -- and the market continues responding positively -- it could suggest the recent correction over the last few quarters was less the beginning of a prolonged decline, and more a healthy reset in expectations.
For long-term investors, that's the signal worth watching in the coming quarters.
Republic Services zvýšila celoroční výhled na rok 2026 po růstu tržeb ve 2. čtvrtletí o 4,6 % a upravené EBITDA o 4,5 %. Firma těžila z vyšších cen, akvizic a recyklace.
3 Waste Stocks Turning AI Investments Into GrowthRepublic Services NYSE: RSG raised its full-year 2026 outlook after reporting second-quarter revenue growth of 4.6% and adjusted EBITDA growth of 4.5%, supported by pricing, acquisitions and recycling-related contributions. The company said adjusted EBITDA margin held at 32.1%, while adjusted earnings per share totaled $1.85.
Chief Executive Officer Jon Vander Ark said the company generated $1.58 billion in adjusted free cash flow during the first half of the year and continued to invest in technology, automation, sustainability initiatives and acquisitions. Republic also returned more than $1 billion to shareholders during the first half through dividends and share repurchases, buying back about 1% of its outstanding shares.
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Pricing Offset Volume Pressure Trash to Treasure: 3 Waste Removal Stocks to Minimize VolatilityRepublic said second-quarter organic growth was led by pricing. Average yield on total revenue was 3.4%, while average yield on related revenue was 4%. Core price on total revenue was 5.3%, and core price on related revenue was 6.4%, according to Chief Financial Officer Brian DelGhiaccio.
Open-market pricing rose 7.8%, while restricted pricing increased 4.1%. By business category, core price on related revenue included increases of 8.1% in small container, 6.9% in large container and 6.3% in residential.
Can RSG Stock Turn Guidance Into Gains in 2026?Volume declined 1.6% on total revenue and 1.9% on related revenue. Management said much of the decline reflected difficult comparisons with prior-year event-driven landfill volumes, which accounted for 1.3 percentage points of the total-revenue volume decline. Excluding the prior-year event impact, volume performance improved by 50 basis points from the first quarter.
Landfill municipal solid waste volume increased 1.1%, but this was more than offset by a 2.2% decline in large-container volumes, which Republic attributed primarily to continued softness in construction-related activity. Residential volume fell 4.3% because of known contract losses. The company said residential declines should narrow in 2027, although it would continue to prioritize pricing and returns over retaining lower-value business.
Vander Ark said the broader recycling and waste market has experienced nearly four years of negative growth tied to construction and industrial activity, but he sees sequential improvement. Commercial construction has shown a slight rebound, residential construction remains challenged, and industrial activity has begun to gain momentum, he said.
Margins, Recycling and Environmental Solutions Republic’s 32.1% adjusted EBITDA margin included 90 basis points of expansion in the underlying business. That improvement was offset by a 50-basis-point impact from prior-year landfill event volumes, a 30-basis-point impact from net fuel and a 10-basis-point impact from lower recycled commodity prices.
Recycling commodity prices averaged $136 per ton in the second quarter, down from $149 per ton a year earlier. Recycling processing and commodity sales nevertheless increased by $8 million as higher volumes at Republic’s Polymer Centers offset lower commodity prices. Current commodity prices are about $140 per ton, and the company used that level in its second-half outlook, implying a full-year average of roughly $135 per ton.
The environmental solutions business posted a sequential revenue increase of $53 million, driven by higher event volumes and seasonal activity. Its adjusted EBITDA margin improved 100 basis points sequentially to 20.2%. Republic expects year-over-year revenue growth and margin expansion in environmental solutions during the second half.
Management said the environmental solutions pipeline is broad-based across end markets and geographies, with manufacturing-related activity representing roughly half of the business. Vander Ark said the company is particularly competitive on complex projects that can use its field services, hazardous-waste landfills, solid-waste landfills, water remediation capabilities and hazardous-liquid services.
Republic also said its PFAS-related business exceeded $100 million in revenue in 2025 and is on pace to exceed that amount again this year. Vander Ark said PFAS demand is being supported across the company’s hazardous landfill, water-treatment and solid-waste landfill assets.
Guidance Raised on Commodities and Acquisitions Republic raised its 2026 guidance to:
Revenue of $17.2 billion to $17.3 billion. Adjusted EBITDA of $5.525 billion to $5.55 billion. Adjusted earnings per share of $7.23 to $7.28. Adjusted free cash flow of $2.54 billion to $2.575 billion. DelGhiaccio said the approximately $40 million increase at the midpoint of adjusted EBITDA guidance was driven primarily by higher recycling commodity prices, contributing about $25 million, with the remainder coming from incremental acquisitions. The revenue outlook also includes higher fuel recovery fees through July, though the company said those fees are largely offset by fuel costs, transportation surcharges and other indirect fuel-related expenses.
Republic expects third-quarter margins to be relatively flat compared with the prior year, followed by expansion in the fourth quarter. The company continues to target 60 to 70 basis points of margin expansion in its underlying business for the full year.
Technology, Sustainability and Capital Allocation Republic is deploying artificial intelligence tools in pricing, routing and call-center operations. Vander Ark said the company’s pricing technology incorporates dozens of customer-specific variables to optimize pricing while considering customer retention. The company expects AI-enabled pricing and routing investments to support about $100 million of opportunity over time, with progress expected toward that target by the end of 2027.
In sustainability initiatives, Republic began operations at two renewable natural gas projects during the second quarter and expects two more to start by year-end. Construction of a third Polymer Center in Allentown, Pennsylvania, is progressing, with commissioning scheduled to begin early next year.
The company operated more than 250 electric collection vehicles at the end of the second quarter and expects to exit 2026 with more than 300 electric trucks. Vander Ark said vehicle battery performance and uptime have exceeded the company’s expectations.
Republic invested $860 million in acquisitions during the first half and said it has since closed nearly $1.2 billion in acquisition investments, all of which is included in its updated guidance. The company expects its acquisition pipeline to support continued activity in recycling, waste and environmental solutions into 2027.
About Republic Services (NYSE:RSG)Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic's core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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Rockwell Automation ve 3. fiskálním čtvrtletí překonal očekávání díky 10% organickému růstu tržeb a zisku; upravený EPS činil 3,49 USD. Firma zároveň zvýšila celoroční výhled tržeb i upraveného zisku.
Prepare for the Next Wave of Factory Automation With These 3 Standout NamesRockwell Automation NYSE: ROK reported third-quarter fiscal 2026 results that exceeded its expectations, supported by double-digit organic sales growth, stronger earnings and broad demand in several automation markets. The company also raised its full-year sales and adjusted earnings outlook.
Chairman and CEO Blake Moret said reported sales increased 8% from a year earlier, while organic sales rose 10%. The dissolution of Sensia reduced sales by 3%, while currency added roughly one percentage point of growth. Adjusted earnings per share were $3.49, up more than 20% year over year, and enterprise operating margin reached 22.3%.
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Buyback Capacity Is Rising Across 3 Soaring and Sinking Stocks“We delivered a strong quarter with double-digit year-over-year growth in sales and earnings exceeding our expectations,” Moret said. He cited Rockwell’s North American position, growing exposure to new end markets, product launches, partner network and operational execution.
Demand Led by Semiconductor, Data Centers and Warehouse Automation Rockwell said products outperformed its longer-cycle solutions businesses during the quarter, as smaller modernization projects supported growth across most industries. The company continues to see strong demand in semiconductor, data center, e-commerce and warehouse automation, while it has yet to see a broader recovery in capital spending across food and beverage and parts of process industries.
These 5 Companies Just Made a Massive Bet on ThemselvesIntelligent Devices organic sales increased 10%, with growth across all product lines. Moret said newer products, including PointMax I/O, PowerFlex drives and FLEXLINE motor control centers, have seen strong adoption in e-commerce, warehouse automation and process applications.
Software & Control organic sales rose 18%, driven by another quarter of double-digit growth in Logix. Lifecycle Services organic sales declined 2%, generally in line with management’s expectations, as the segment remained constrained by the absence of a broader capital-spending recovery in food and beverage and certain process markets.
Organic annual recurring revenue increased 6%, below Rockwell’s expectations. High-single-digit software growth was partly offset by slower recurring Lifecycle Services growth. Moret pointed to an expanded cybersecurity engagement with Unilever as an example of an ARR win, combining Rockwell’s threat detection and secure remote-access software with managed cybersecurity services.
Discrete sales grew by the high teens year over year. E-commerce and warehouse automation sales increased 30%. Automotive sales rose by the low double digits. Life sciences sales increased 10%. Process sales increased by the high single digits, led by energy, metals and chemicals. North America grew 12% and was Rockwell’s strongest region in the quarter. Moret said data-center investment continued to create demand for power, cooling, automation and control systems. Rockwell participates in the market through power distribution, controls for chiller manufacturers and Logix controllers used in central utility plants, energy monitoring and backup-generator controls.
He added that excluding data-center-related activity, Rockwell’s organic sales growth would still have been 8% during the quarter.
Margins Expanded Despite Inflation Pressure CFO Christian Rothe said enterprise operating margin expanded 280 basis points year over year, driven by higher sales volume and favorable mix, partly offset by negative price-cost dynamics. The Sensia dissolution contributed about 40 basis points to enterprise operating margin.
Gross margin increased 70 basis points to 49.5%, aided by volume, mix and the Sensia dissolution. Selling, general and administrative expense rose less than 1%, while engineering and development spending increased 5% and represented about 8% of sales.
Segment margins were mixed. Intelligent Devices margin rose 120 basis points to 20%, while Software & Control margin expanded 320 basis points to 34.8%. Lifecycle Services margin increased 180 basis points to 15.1%, helped by project execution, productivity and the Sensia dissolution, though lower sales volume was a partial offset.
Free cash flow was $654 million in the third quarter, $165 million above the prior-year period, primarily reflecting higher pre-tax income and working-capital management.
Rothe said inflation remains an increasing headwind, particularly for memory and other inputs affected by data-center demand. Rockwell’s supply-chain focus is first on maintaining component availability and product shipments, followed by managing costs through pricing, productivity and supplier negotiations.
The company implemented an inflation-related price increase late in the third quarter that it expects to be realized in the fourth quarter. For fiscal 2026, Rockwell continues to expect about 250 basis points of price realization, including roughly 100 basis points related to tariffs and 150 basis points from underlying pricing. Management expects tariffs to be earnings-neutral for the year, with pricing offsetting related costs.
Full-Year Outlook Raised Rockwell increased its fiscal 2026 outlook for reported and organic sales growth to a range of 7.5% to 9.5%, up 150 basis points from its prior forecast. The midpoint of 8.5% assumes modest sequential growth in the fourth quarter, including a typical seasonal pickup in longer-cycle businesses within Lifecycle Services and Intelligent Devices.
The company raised its adjusted EPS outlook to a range of $13.00 to $13.30, with a midpoint of $13.15, up $0.35 from the midpoint of its previous guidance. The midpoint represents approximately 25% growth from fiscal 2025.
Rockwell maintained its expectation for enterprise operating margin of 21.5%, up 260 basis points year over year, and free-cash-flow conversion of 100%. It expects organic ARR to grow at a mid-single-digit rate.
For the fourth quarter, management expects reported sales to rise by the low single digits sequentially, with enterprise operating margin roughly flat versus the third quarter. Rothe attributed the expected margin profile to higher inflation and an unfavorable seasonal mix, as configure-to-order and solutions sales reach their typical fourth-quarter peak.
Looking beyond the current fiscal year, Moret said Rockwell sees continued opportunities in data centers, automotive, life sciences, production logistics, energy and manufacturing automation. He said larger capital projects remain delayed by customer caution, funding constraints, tariff uncertainty and contractual considerations, but modernization spending has remained resilient.
“We like our position in the market,” Moret said, pointing to continued product introductions, productivity initiatives and Rockwell’s ability to support manufacturers seeking to expand automation.
About Rockwell Automation (NYSE:ROK)Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.
The company's product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.
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Radian Group ve 2. čtvrtletí zvýšila výnosy o 93 % na 575 milionů USD a zisk z pokračujících činností dosáhl 0,87 USD na akcii. Mortgage insurance zůstává hlavním tahounem, zatímco specializované pojištění čelí slabším cenám.
3 Undervalued Dividend Payers For Volatile Market ConditionsRadian Group NYSE: RDN reported second-quarter results that reflected its first full quarter including specialty insurer Inigo, while executives emphasized continued strength in mortgage insurance, progress on divestitures and disciplined capital deployment amid a softer specialty insurance market.
Total revenue rose 93% year over year to $575 million, while net earned premiums increased 116% to $504 million. The company reported GAAP net income from continuing operations of $0.87 per share and a 10% return on equity. Adjusted net operating earnings were $1.14 per share, with an adjusted net operating return on equity of 13%.
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Senior Executive Vice President and Interim Chief Financial Officer Dan Kobell said results included one-time costs associated with the Inigo transaction, non-cash amortization and purchase-accounting adjustments. They also reflected seasonal share-based compensation expenses and reserves established in the specialty business related to developments in the Middle East.
Transformation Strategy and Inigo Contribution Chief Executive Officer Rick Thornberry said Radian has advanced the strategic plan announced alongside its agreement to acquire Inigo, which was intended to transform the company from a primarily U.S. mortgage insurer into a global multiline specialty insurer.
The company has completed the Inigo acquisition, exited its mortgage conduit business, completed the sale of its real estate services business and entered an agreement to sell its title business. Radian said the actions have narrowed its focus to insurance, expanded its products and reduced organizational complexity.
Inigo represented approximately 50% of consolidated revenue and 53% of total net premiums earned during the quarter, according to Thornberry. Specialty segment net premiums earned totaled $267 million, up 9% year over year.
Management said specialty market conditions have become more competitive, particularly in property insurance and reinsurance, with rates continuing to soften. Thornberry said the company would prioritize profitability, rate adequacy and returns over premium volume.
“We won't sacrifice pricing or terms or expected returns to maintain premium volume,” Thornberry said during the call.
Kobell said Radian expects specialty earned premiums in the second half of 2026 to be about 20% higher than in the first half because of the business’s typical revenue seasonality. He said the guidance includes Inigo’s January results, which were not part of Radian’s consolidated reporting following the acquisition timing.
Specialty Reserves and Margin Outlook The specialty segment reported a 98% net combined ratio in the second quarter. Total loss provision was $169 million, including $24 million of favorable development from prior-period reserves, primarily in property lines.
However, Radian also established approximately $30 million of reserves related to Middle East developments. Kobell said the figure included expected and potential conflict-related claims as well as updated inflation assumptions across the insured portfolio due to possible macroeconomic and inflation pressures tied to the conflict.
Excluding that reserving, the second-quarter specialty combined ratio would have been in the mid-to-high 80% range, Kobell said. For the first half, the specialty combined ratio was 93%; absent the Middle East-related item, it would have been in the high 80s.
Looking ahead, management said a combined ratio in the low 90% range is more representative of current specialty underwriting conditions as lower margins from softening prices gradually earn through results. Kobell added that quarterly combined ratios could be volatile because of market events.
Radian said it believes it is well reserved based on information available at the end of the quarter, while continuing to monitor the Middle East situation.
Mortgage Insurance Remains a Key Earnings Driver Radian’s mortgage insurance segment wrote $16.3 billion of new insurance during the quarter, an increase of 14% from a year earlier. Primary insurance in force rose 3% year over year to a record $284 billion, while persistency increased to 82%.
Approximately half of the insurance-in-force portfolio carried mortgage rates of 5.5% or lower at quarter-end, which management said makes those policies less likely to cancel through refinancing under current interest-rate conditions.
Credit trends remained favorable. New defaults declined 9% sequentially to about 12,400, while cures exceeded new defaults, reducing the portfolio default rate to 2.47%. Favorable cure trends resulted in $20 million of favorable development from prior-period defaults.
Kobell said the company was effectively reserving to a 92.5% cure rate and has consistently achieved that level or better across default cohorts. He said management did not see areas of concern by credit metric, geography or vintage.
Mortgage segment operating expenses declined 7% year over year, and the segment expense ratio improved to 23% from 25% a year earlier.
Capital Returns, Liquidity and Leadership Transition Radian Guaranty paid a $200 million dividend to the parent company during the quarter, and Radian increased its 2026 expectation for dividends from Radian Guaranty to at least $650 million, including $340 million already paid in the first half.
The company’s PMIERs cushion stood at $1.5 billion above required capital levels. Holding-company liquidity increased to $412 million at quarter-end after Radian repurchased $76 million of stock, paid $37 million in quarterly dividends and repaid $75 million of borrowings under its revolving credit facility.
Radian repurchased another $50 million of shares early in the third quarter, bringing year-to-date repurchases to $176 million, or 5 million shares. Kobell said the company now expects to finish 2026 nearer the upper end of its prior $200 million to $250 million repurchase range, subject to market conditions.
Radian had $75 million remaining on its revolving credit facility at quarter-end and expects to repay that balance during 2026. The company said it expects to evaluate refinancing debt maturing in the first quarter of 2027, with its current expectation being a refinancing at a similar size.
CEO-Elect Mike Weinbach, who joined Radian on June 1, said the company’s two core insurance businesses are uncorrelated and share a focus on using data, analytics and risk management to outperform. He said Radian sees opportunities to improve efficiency, use emerging artificial intelligence technologies and selectively grow in specialty lines where pricing and underwriting conditions remain attractive.
Thornberry, whose tenure as CEO is ending, said he will continue as a strategic adviser to Weinbach and the board.
About Radian Group (NYSE:RDN)Radian Group Inc NYSE: RDN is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian's core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.
Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.
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Rayonier oznámil za 2. čtvrtletí GAAP zisk 19 mil. USD a upravenou EBITDA 124 mil. USD, taženou fúzí s PotlatchDeltic a silnějšími výsledky. Firma také prodala 36 000 akrů ve Washingtonu za 145 mil. USD a koupila 57 000 akrů v Texasu a Alabamě za 146 mil. USD.
Rayonier-PotlatchDeltic Merger Signals Industry UpsideRayonier NYSE: RYN reported second-quarter GAAP earnings of $19 million, or $0.06 per share, as contributions from the recently completed merger with PotlatchDeltic and stronger operating results across its businesses lifted adjusted EBITDA to $124 million.
Adjusted net income was $32 million, or $0.10 per share, after excluding pro forma items that were primarily related to the merger. President and CEO Mark McHugh said the company has made progress integrating PotlatchDeltic since the merger closed in late January and remains on track to achieve its run-rate synergy targets.
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3 Stocks About to Book Gains on Building Products DemandThe company also announced two timberland transactions with Resource Management Service, or RMS, intended to further its portfolio optimization strategy. Rayonier sold about 36,000 acres in southwest Washington for $145 million and concurrently acquired about 57,000 acres in Texas and Alabama for $146 million, subject to customary closing adjustments.
McHugh said the transactions were structured as a tax-efficient like-kind exchange and are expected to be accretive to timber-only cash flow, with additional potential from higher-and-better-use real estate sales and land-based solutions opportunities. The Washington sale will be treated as a large disposition and will not affect adjusted EBITDA, according to Chief Financial Officer Wayne Wasechek.
Timber Results Benefit From Higher Volumes 3 Construction Stocks Bringing Growth this FallSouthern Timber adjusted EBITDA increased 85% from the prior-year quarter to $53 million. Harvest volumes more than doubled, largely reflecting approximately 1.5 million tons of volume added through the PotlatchDeltic timberlands. Increased harvest activity more than offset lower pricing.
McHugh said sawlog demand was steady as lumber prices rose during the quarter. The company expects U.S. South sawmills to gain share from Canadian producers and gradually increase production, which it believes should support sawlog demand in its southern markets.
Pulpwood conditions remained challenging, however, as subdued demand, dry weather and salvage harvesting related to fires in Florida and Georgia added to supply. McHugh said pulpwood pricing has generally stabilized in Rayonier’s main markets, while improved containerboard pricing and mill operating rates have provided what he described as “green shoots” for possible pricing improvement in coming quarters.
About 9,300 acres of Rayonier timberlands in Georgia were affected by fires. The company recorded a roughly $2 million casualty loss during the second quarter and harvested about 50,000 tons through salvage operations. McHugh said those efforts are largely complete and that Rayonier does not expect material future business effects from the fires.
Northwest Timber adjusted EBITDA rose to $26 million from $7 million a year earlier. Volumes more than doubled, aided by 360,000 tons of incremental harvest volume from PotlatchDeltic’s Idaho timberlands. Drier-than-normal weather supported harvest activity in Idaho, while higher lumber prices contributed to stronger indexed sawlog prices.
During the question-and-answer session, Wasechek said Northwest timber pricing was also rising modestly outside the benefit from Idaho indexed logs. He said fires in the West had not created a significant impact on regional volumes, transactions or pricing.
Wood Products and Real Estate Improve Rayonier’s Wood Products business generated $25 million of adjusted EBITDA, exceeding management’s expectations and marking the segment’s strongest quarterly result since PotlatchDeltic’s third quarter of 2022.
Average lumber price realization was $505 per thousand board feet, up about 18% from $427 per thousand board feet in the first quarter, including the pre-merger period. Shipments were 314 million board feet, in line with prior guidance.
McHugh attributed improved lumber pricing primarily to supply-side conditions, including mill curtailments, higher tariffs on Canadian imports and transportation constraints. The company said it used rail alongside its trucking network to maintain customer deliveries and largely passed increased transportation costs on to customers.
Real Estate revenue totaled $54 million from sales of roughly 7,500 acres at an average price of $6,300 per acre. Segment adjusted EBITDA rose $20 million from the prior-year period to $38 million.
Rural land sales accounted for $41 million and included a 460-acre bolt-on sale to a solar developer for $4.6 million, or about $10,000 per acre. Rayonier ended the quarter with approximately 77,000 acres under option for lease or sale to solar developers.
McHugh said solar developers have been focused on optimizing their pipelines amid interconnection costs and changes in regulatory and financial incentives. He said Rayonier’s solar-option portfolio could shrink in coming quarters but potentially consist of higher-quality projects. The company expects a larger group of option maturities beginning in 2027, which could provide greater visibility into long-term conversion rates.
The company is also evaluating data-center opportunities. McHugh said developer interest ranges from sites of several hundred acres for facility footprints to several thousand acres for projects that could include co-located power and buffer zones. He cautioned that data-center development involves more extensive site requirements and due diligence than solar projects.
Capital Allocation and Outlook Cash available for distribution totaled $177 million during the first six months of 2026, compared with $47 million in the prior-year period. Wasechek attributed the increase to PotlatchDeltic’s contribution and improved Real Estate results.
Rayonier repurchased approximately 3.5 million shares during the second quarter for $72 million, at an average price of $20.95 per share. During the first half, it repurchased 4.9 million shares for $103 million, leaving $126 million available under its authorization at quarter-end.
The company repaid a $200 million term loan at maturity in April using cash on hand. It ended the quarter with $412 million in cash and approximately $1.9 billion in debt, with net debt to enterprise value of 18% based on its quarter-end share price. McHugh said Rayonier remains committed to preserving its investment-grade credit rating and has previously targeted net debt-to-EBITDA below three times.
For the full year, Rayonier expects Southern Timber harvest volumes of 12.2 million to 12.5 million tons and Northwest Timber harvest volumes of 2 million to 2.2 million tons. Third-quarter harvest expectations are 3.1 million to 3.3 million tons in the South and approximately 600,000 tons in the Northwest.
The company expects Southern sawtimber and pulpwood prices to remain relatively stable in the third quarter. Northwest sawtimber prices are expected to rise modestly, principally due to higher indexed sawlog pricing on certain Idaho volume.
Wood Products shipments are projected to total approximately 1.1 billion board feet for the 11 months of 2026 contribution, including 320 million to 330 million board feet in the third quarter. Rayonier said its average lumber price realization through July was modestly above the second-quarter average.
For Real Estate, Rayonier expects third-quarter adjusted EBITDA of $25 million to $35 million and maintained its full-year forecast of $180 million to $200 million.
About Rayonier (NYSE:RYN)Rayonier, Inc NYSE: RYN is a publicly traded real estate investment trust specializing in timberland ownership and management. The company's core business revolves around sustainably growing, harvesting, and marketing timber and timber-related products. Rayonier's timberland portfolio encompasses approximately 2.7 million acres across the United States and New Zealand, focusing on softwood and hardwood fiber for use in paper, packaging and building materials.
Rayonier operates through two primary segments: Timber and Real Estate Solutions.
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Regal Rexnord ve 2. čtvrtletí zvýšil objednávky o 8,8 % a tržby o 4,2 % meziročně, tažený datovými centry, automatizací a energetikou. Zároveň snížil výhled volného peněžního toku o 50 milionů USD na 600 milionů USD.
MarketBeat Week in Review – 07/06 - 07/10Regal Rexnord NYSE: RRX reported second-quarter results marked by higher orders, organic sales growth and continued momentum in data center, automation and energy-related markets, while lowering certain segment outlooks amid inflation, pricing lags and weakness in residential HVAC and pool markets.
The company also introduced Aamir Paul on his first earnings call as chief executive officer. Paul, who joined Regal Rexnord on July 1, said his initial focus has been listening to employees, customers, channel partners, suppliers and investors. He previously held leadership roles at Dell Technologies and Schneider Electric.
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This Under-the-Radar Industrial Is Quietly Powering AI“I came to Regal Rexnord because I see tremendous opportunities across the company’s portfolio, strong channel positions, manufacturing scale, and healthy balance sheet,” Paul said. He cited factory automation, aerospace and defense, air moving, robotics, eVTOL and data centers as attractive areas for the company.
Orders and Sales Rise Daily orders increased 8.8% from the prior-year period during the second quarter, or 8.1% excluding data center activity, according to Chief Financial Officer Rob Rehard. Orders excluding the company’s consumer-oriented residential HVAC and pool businesses rose at a low-double-digit rate.
3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to AvoidEnterprise sales increased 4.2% year over year, including 3.3% organic growth. Excluding residential HVAC and pool, sales rose 6.1%. Rehard said growth was broad-based, with notable strength in data centers, commercial HVAC, discrete automation and energy markets.
Adjusted gross margin was 39.8%, or 37.8% excluding $32 million in IEEPA tariff refunds recorded during the quarter. Adjusted EBITDA margin was 23.5%, or 21.5% excluding the refunds. Adjusted earnings per share totaled $2.99, or $2.60 excluding the refund benefit. The latter figure represented 5% adjusted earnings growth from the prior year, Rehard said.
Adjusted free cash flow was $154 million, improving sequentially on higher EBITDA, lower interest costs and normal seasonality. Rehard noted that second-quarter 2025 cash flow had benefited from $369 million of proceeds from the company’s accounts-receivable securitization program.
Automation & Motion Control Leads Growth Automation & Motion Control, or AMC, posted 15.6% organic sales growth in the second quarter. The segment benefited from data center, discrete automation, aerospace and defense demand. Orders rose 17.1%, or 15% excluding data center, while book-to-bill was 1.02.
AMC adjusted EBITDA margin was 21.1%, or 19.9% excluding tariff refunds. Rehard said volume gains were partly offset by growth investments. He added that nearly half of AMC’s first-half order growth was tied to longer-cycle projects and blanket orders expected to support revenue in 2027 and, in some cases, 2028.
The company expects AMC sales to be modestly lower sequentially in the third quarter because certain project activity moved out of the period, with some shifting into the second quarter and some into the fourth quarter. Regal Rexnord expects $15 million of ePOD revenue in the fourth quarter. The company’s new ePOD production facility is nearing completion and is expected to be ready to support customer production schedules.
Management maintained its prior estimate that ePODs could carry an approximately 20% margin profile, though Rehard said the company has not yet produced an ePOD. Paul said the business was developed in response to customer demand for modular data-center infrastructure that can accelerate “time to power.”
IPS and PES Face Uneven Markets Industrial Powertrain Solutions, or IPS, recorded 2% organic sales growth, led by energy markets and power generation activity associated with data centers. Machinery off-highway markets, including agriculture, were an area of weakness.
IPS daily orders rose 6.7%, with distributor-channel orders up 8%, short-cycle OEM orders up 4% and large-project orders up 8%. Its book-to-bill ratio was 1.06. Rehard said large project wins in metals and mining helped lift the segment’s shippable 2027 backlog by more than 20% compared with the level of its 2026 shippable backlog at the same time last year.
Power Efficiency Solutions, or PES, saw organic sales decline 6.6% as residential HVAC and pool markets remained weak. Management attributed residential HVAC softness to housing conditions, consumer confidence and remaining pockets of elevated channel inventory. Commercial HVAC remained a source of strength, aided by data-center construction and regional growth initiatives.
PES daily orders rose 3.5% in the second quarter, as commercial HVAC strength was largely offset by residential HVAC and pool weakness. The segment’s adjusted EBITDA margin was 20.5%, or 16.2% excluding tariff refunds.
Guidance Holds on Sales and EPS, While Margin Outlook Declines Regal Rexnord maintained its 2026 sales outlook of $6.2 billion and 4.5% growth. The outlook now assumes stronger AMC growth but weaker contributions from IPS and PES.
The company expects adjusted EBITDA margin of 22.1% for the full year, or 21.3% excluding tariff refunds. The lower ex-refund margin outlook reflects a longer timeline for productivity savings, price realization lagging inflation and revised segment mix assumptions.
Management now expects $48 million of tariff-refund benefits to EBITDA, or $0.57 per share, for the year. This includes $32 million recognized in the second quarter and $8 million expected in each of the final two quarters.
Adjusted EPS guidance was narrowed to $10.35 to $10.85, with an unchanged midpoint of $10.60. Free-cash-flow guidance was lowered by $50 million to $600 million, primarily because higher growth in AMC is expected to require additional working-capital investment.
Rehard said the company expects net debt leverage to fall below three times during the second half of 2026.
About Regal Rexnord (NYSE:RRX)Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company's operations are organized into multiple business segments that address distinct customer needs.
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Revvity ve 2. čtvrtletí překonala očekávání a zvýšila výhled na celý rok. Tržby vzrostly o 3 % organicky na 711 mil. USD, zisk na akcii činil 1,41 USD.
Revvity NYSE: RVTY reported second-quarter results above its expectations and raised its full-year outlook, citing continued strength in diagnostics, improving demand from pharmaceutical and biotechnology customers, and growing orders tied to artificial intelligence-enabled drug discovery workflows.
Chief Executive Officer Prahlad Singh said pro forma organic revenue rose 3% in the quarter, while adjusted earnings per share reached $1.41. The company’s non-GAAP results and outlook exclude its China Immunodiagnostics business, which Revvity has agreed to sell. Singh said the company has signed a definitive agreement with the buyer and continues to expect the transaction to close by the end of 2027.
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“The second quarter reinforced that Revvity is in a strong and increasingly differentiated position,” Singh said, pointing to the resilience of diagnostics and signs of improvement in Life Sciences end markets.
Second-Quarter Financial Performance Chief Financial Officer Max Krakowiak said second-quarter revenue totaled $711 million, including 3% pro forma organic growth. Foreign exchange had an immaterial effect on reported growth, while the recently acquired ACD/Labs software business contributed about 75 basis points to growth.
Pro forma adjusted operating margin was 29.3%, above the company’s 27% outlook. Pro forma adjusted EPS was $1.41. Free cash flow totaled $184 million, representing 117% conversion of adjusted net income. Year-to-date free cash flow approached $300 million, with conversion of 108% of adjusted net income. Krakowiak said Revvity received $16 million in tariff-related refunds during the quarter, which accounted for about half of the adjusted EPS upside. About one-third of the upside came from a lower-than-expected 16% adjusted tax rate, driven by the timing of discrete items that had previously been expected in the fourth quarter. The company maintained its full-year adjusted tax-rate assumption of about 18%.
Revvity also retired a €500 million note in July. The company ended the quarter with net debt-to-adjusted EBITDA leverage of 2.5 times and said it expects gross leverage to be below three times by year-end. Krakowiak said all of the company’s long-term debt is fixed rate, with a weighted average interest rate of 2.3% and a weighted average maturity of about six years.
Diagnostics Drives Broad-Based Growth The Diagnostics segment generated $352 million in second-quarter revenue, rising 12% on a reported basis and 11% organically. Both Immunodiagnostics and Reproductive Health exceeded the company’s expectations, Krakowiak said.
Immunodiagnostics grew at a high-single-digit organic rate, supported by broad-based performance outside China despite continued pressures in latent tuberculosis testing. Reproductive Health grew in the double digits, benefiting from Newborn Screening demand and the contribution from Revvity’s work with Genomics England.
Singh said Reproductive Health grew in the mid-teens during the quarter, while Immunodiagnostics outside China accelerated to high-single-digit growth. Management said Newborn Screening reagents grew in the high single digits despite declining birth rates, supported by geographic expansion into markets without screening programs and broader menu adoption in countries that already have programs.
For the second half, the company expects Reproductive Health growth to moderate to low- to mid-single digits, reflecting more difficult comparisons related to Genomics England and a heavier instrument-placement cycle in the first half.
Life Sciences Sees Improving Orders and AI-Related Demand Life Sciences revenue was $359 million, down 2% on a reported basis and down 3% organically. The decline was driven primarily by an approximately 20% year-over-year decrease in the Signals software business, which Revvity attributed to contract timing and difficult comparisons from the prior year.
Outside of software comparisons, Life Sciences Solutions grew in the low single digits, with both reagents and instruments posting growth. Management said instrument shipment timing restrained second-quarter revenue but contributed to a higher-than-normal backlog entering the second half.
Singh said order activity accelerated as the quarter progressed, leaving Revvity in what he described as its strongest backlog position in three to four years. He highlighted sustained double-digit growth in demand for high-content screening instruments, including the recently introduced Opera Phenix OptIQ platform. Order velocity in that category exceeded near-term production capacity, according to the company.
Management linked part of the demand to customers building AI-driven drug-discovery capabilities. Singh said AI can accelerate the creation of scientific hypotheses and potential drug candidates, but those candidates still require lab-based testing, biological data generation and validation. He described the emerging customer workflow as “lab-in-the-loop,” in which experimental results are used to inform AI models over time.
Revvity said it is seeing orders from traditional pharma and biotech customers as well as nontraditional organizations, nonprofits and companies building AI-related datasets and platforms. However, executives said it remains too early to quantify the full scale of the opportunity.
The company now expects its instruments business to deliver positive mid-single-digit growth for the full year, compared with its prior expectation for positive low-single-digit growth. It expects reagents to remain in low-single-digit growth in the third quarter before accelerating to a mid-single-digit growth rate exiting the year.
Software Strategy and Updated Outlook Although Signals revenue declined in the second quarter, management said annualized portfolio value grew in the double digits and annual recurring revenue was in the mid-20s. Revvity expects Signals to return to strong double-digit organic growth in the second half as contracts renew.
The company highlighted several software initiatives, including the commercial availability of BioDesign for large-molecule workflows, a beta rollout of the Xynthetica AI models-as-a-service platform, and the planned release of LabGistics later this year. Revvity also launched Signals AI, which incorporates large language model capabilities into its Signals platform, and announced an Anthropic connector that lets customers use their data with Claude and Claude Science.
For 2026, Revvity raised its pro forma organic growth outlook to 4% to 5% from 3% to 4%. It now expects pro forma revenue of $2.83 billion to $2.86 billion, adjusted operating margin of approximately 28.7%, and adjusted EPS of $5.30 to $5.40, up $0.10 from its prior guidance.
For the third quarter, the company expects organic growth of 4% to 6%, revenue of $685 million to $700 million, and pro forma adjusted operating margin of approximately 29%.
About Revvity (NYSE:RVTY)Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.
Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.
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Ralph Lauren v 1. čtvrtletí fiskálního roku 2027 překonal očekávání, když tržby při konstantní měně vzrostly o 13 % a provozní marže se zvedla na 18,5 %. Firma zároveň zvýšila celoroční výhled tržeb i marže.
Palomar’s High-Risk Insurance Strategy Is Paying Off BigRalph Lauren NYSE: RL reported first-quarter fiscal 2027 results that exceeded its expectations, with revenue rising 13% on a constant-currency basis and adjusted operating margin expanding 150 basis points to 18.5%.
President and Chief Executive Officer Patrice Louvet said growth was broad-based across regions, channels and product categories, supported by increased full-price selling, brand activations and continued investment in the company’s “Next Great Chapter: Drive” strategy. Direct-to-consumer comparable sales rose 12%, while wholesale revenue increased 13%.
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Apparel Earnings Winners and Losers: Ralph Lauren Takes Off“Our first quarter performance exceeded our expectations on both the top and bottom line,” Chief Financial Officer Justin Picicci said. The company raised its full-year outlook while retaining what management described as a prudent view of consumer conditions in Europe.
Regional Growth Led by Asia Asia was Ralph Lauren’s fastest-growing region, with revenue up 25% in the quarter and retail comparable sales rising 23%. China sales increased more than 40%, driven by comparable growth and new customer recruitment, while Japan and Korea also delivered double-digit growth.
MarketBeat Week in Review – 04/13 - 04/17 Louvet said Ralph Lauren’s China strategy centers on brand storytelling, expansion in six priority city clusters, core products and higher-potential categories such as women’s apparel and handbags. He cited a Ralph Lauren Polo Cup event in Beijing that drew 74 million livestream viewers.
Management expects China growth of approximately mid-teens for the full fiscal year, noting that the company will face stronger comparisons in the back half. Ralph Lauren raised its fiscal 2027 outlook for Asia to high-single-digit to low-double-digit revenue growth, compared with its previous forecast for high-single-digit growth.
North America revenue increased 13%, including a 9% increase in retail comparable sales and 22% growth in wholesale. The wholesale result benefited from strong spring sellout trends, replenishment orders, resumed shipments to a luxury wholesale account and shipment timing. Picicci said timing shifts and resumed shipments contributed about 15 percentage points of North American wholesale growth in the quarter.
European revenue rose 5%, led by Germany, Italy and Spain. Retail comparable sales in the region increased 1% on top of a double-digit comparison a year earlier, while wholesale revenue rose 8%, including an approximately five-point benefit from earlier shipment timing.
Management said European store traffic has been pressured by the broader macroeconomic environment, including elevated energy costs, weaker consumer sentiment, Middle East-related disruption to partner sales and tourism trends. However, Ralph Lauren said higher conversion rates and basket sizes helped offset softer traffic.
Margins Expanded Despite Tariff and Cost Pressures Adjusted gross margin expanded 130 basis points to 73.6%. Average unit retail, or AUR, increased 15%, supported by full-price selling, lower discounting, selective pricing actions and favorable product, channel and geographic mix.
Picicci said the stronger AUR and favorable mix more than offset incremental tariff costs, higher labor expenses and higher non-cotton material costs. The company expects mid- to high-single-digit AUR growth in the second quarter and for the full year.
Adjusted operating expenses rose 13%, though they declined 10 basis points as a percentage of sales. Non-marketing expenses generated 90 basis points of leverage, while marketing spending increased to 8.2% of sales from 7.5% a year earlier. The company said the higher marketing investment supported global brand campaigns, fashion events and consumer activations.
Louvet said Ralph Lauren remains comfortable with marketing spending of about 8% of sales for fiscal 2027 and may continue to invest when it sees attractive returns. The company added 1.5 million customers to its direct-to-consumer businesses during the quarter and grew its social media following by high single digits to more than 70 million.
Product and Store Expansion Core product sales, which represent more than 70% of the business, rose at a mid-teens rate. Higher-potential categories including women’s apparel, outerwear and handbags increased more than 20%, outpacing companywide growth.
Ralph Lauren opened 22 owned and partner stores globally during the quarter, including locations at The Grove in Los Angeles, Stanford Shopping Center in Palo Alto, Istanbul, Sydney and Perth. The company also renovated its Bicester outlet near London and expanded its RL mobile app to Korea, its first market outside North America for the application.
Management said its direct-to-consumer business accounts for about 70% of sales and is likely to become a somewhat larger share over time, in part because Asia is predominantly direct to consumer. Louvet said wholesale remains important for consumer discovery and recruitment in key-city ecosystems, but the company plans to continue reducing off-price sales and exiting lower-tier full-price doors.
Raised Fiscal 2027 Outlook For fiscal 2027, Ralph Lauren now expects constant-currency revenue growth of 5% to 6%, up from its prior forecast of 4% to 5%. The company expects foreign exchange to reduce reported revenue growth by approximately 50 to 100 basis points. Its fiscal year includes a 53rd week, expected to add roughly one percentage point to revenue growth.
North America revenue is expected to increase at a low-single-digit rate. Europe revenue is expected to rise low- to mid-single digits. Asia revenue is expected to increase high single digits to low double digits. Operating margin is expected to expand 60 to 80 basis points, up from prior guidance of 40 to 60 basis points. Gross margin is expected to expand 50 to 70 basis points, compared with prior expectations for modest expansion. For the second quarter, Ralph Lauren expects constant-currency revenue growth of approximately 5% to 6% and operating-margin expansion of 80 to 100 basis points. Management said revenue and profit growth are expected to be more heavily weighted toward the first half, reflecting wholesale shipment timing, prior-year comparisons and the planned acceleration of off-price and lower-tier distribution reductions in the second half.
The company ended the quarter with $1.9 billion in cash and short-term investments, $1.2 billion in total debt and net inventory down 3% on a constant-currency basis. Ralph Lauren returned more than $300 million to shareholders through dividends and share repurchases during the quarter.
About Ralph Lauren (NYSE:RL)Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.
Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.
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Redwire ve 2. čtvrtletí zvýšila tržby na rekordních 117,1 mil. USD a hrubou marži na 27,8 %. Zároveň potvrdila celoroční výhled tržeb 450 až 500 mil. USD.
5 Space Stocks Face a Brutal Correction: Which Ones Are Still Buys?Redwire NYSE: RDW reported record second-quarter revenue, gross margin and contracted backlog for 2026, as growth in its defense technology business and continued demand for space systems supported results. The company reaffirmed its full-year revenue outlook and said it expects revenue to build during the second half.
Revenue for the second quarter reached $117.1 million, up 20.7% sequentially and 89.6% from the year-earlier period. The space segment generated $55.2 million in revenue, while defense technology contributed $61.9 million. Chief Financial Officer Chris Edmonds said the Edge Autonomy acquisition was the primary driver of the substantial year-over-year increase in defense technology revenue.
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MDA Space Targets US Defense Market With $620M Acquisition“With more than $350 million in bookings during the last two quarters, we continue to expect our revenue to build in the second half of the year,” Edmonds said.
Margins Improve as Defense Mix Grows Gross margin rose to a record 27.8% during the quarter, improving both sequentially and year over year. Edmonds attributed the result to a stronger defense technology contribution, which historically carries higher margins, as well as a business mix shifting from development programs into production. He also said estimated-at-completion, or EAC, changes had a net-neutral effect during the quarter.
AST SpaceMobile Announces Launch Date for Its Next 3 BlueBird SatellitesRedwire recorded a net loss of $41 million, an improvement of $56 million from the prior-year period. Adjusted EBITDA was negative $3.2 million, which management said was a significant improvement both year over year and sequentially.
While the company highlighted the margin progress, Edmonds said Redwire continues to focus on cost control and program execution. He told analysts that the company’s prior view of gross margins in the low-to-mid-20% range remains an appropriate near-term expectation, while additional expansion could occur as space backlog is replenished and defense technology grows.
Research and development spending increased to $12.5 million in the quarter from $1.7 million a year earlier. Management said the increased investment is intended to mature products and solutions to meet customer demand.
Backlog Reaches $542.1 Million Second-quarter bookings totaled $165.8 million, producing a quarterly book-to-bill ratio of 1.42. The last-12-month book-to-bill ratio was 1.52. Contracted backlog grew 8.8% from the first quarter and 64.5% from a year earlier to a record $542.1 million.
Space backlog was $322 million as of June 30. Defense technology backlog was $220.2 million. Management noted that most defense technology revenue is recognized at a point in time, while most space revenue is recognized over time. Edmonds said the company has now posted five consecutive quarters of backlog growth. He described the macro environment as supportive and said Redwire’s last-12-month book-to-bill ratio signals growth, though he cautioned that contract awards can be uneven across quarters.
For 2026, Redwire reaffirmed its revenue forecast of $450 million to $500 million. The midpoint would represent 41.6% year-over-year growth. The company reported year-to-date revenue of $214 million and said it had visibility into more than 90% of the midpoint of its annual revenue guidance.
Balance Sheet Strengthened Through Equity Raise Redwire ended the quarter with total liquidity of $607.8 million, consisting of $557.8 million in cash equivalents and restricted cash and $50 million of undrawn revolver capacity. The increase was primarily driven by $487.9 million in net proceeds raised through its at-the-market equity program during the quarter.
Management said total debt fell 75% year over year to $48.9 million, while net interest expense declined to less than $1 million from $23.8 million in the second quarter of 2025. The company also said its Series A preferred shares have fully converted into common stock and outstanding warrants were reduced 92% to 202,000, with those warrants scheduled to expire in September.
Edmonds said Redwire had 249.9 million common shares outstanding. The company increased inventory to support faster delivery times for its unmanned aircraft systems, particularly in defense markets, and expects inventory levels may rise further in the third quarter.
Production Expansions and Defense Technology Programs Chief Executive Officer Peter Cannito outlined a capital allocation framework centered on balance sheet strength, internal investment and accretive acquisitions. He said the company has completed 11 acquisitions to date and continues to assess acquisition opportunities following the integration of Edge Autonomy.
Redwire opened a 30,000-square-foot microgravity center of excellence in Georgetown, Indiana, featuring expanded laboratory space and a payload operations center linked to the International Space Station. The site will support pharmaceutical and biotechnology research, development and manufacturing in microgravity.
The company also announced a planned 164,000-square-foot expansion in Huntsville, Alabama, expected to be completed in the fourth quarter of 2027. The project is supported by approximately $8.5 million in eligible state and local economic-development incentives and is intended to expand production of Stalker aircraft, Octopus intelligence, surveillance and reconnaissance payloads, power systems and space capabilities.
Among recent contract and program updates, Redwire said it was selected as one of 15 vendors for the Space Systems Command’s $981 million NITE-STAR capability development indefinite-delivery, indefinite-quantity contract. The company also received a high eight-figure, multiyear award to supply Penguin Mk3 aircraft to an undisclosed NATO customer, along with a Taiwan Coast Guard contract and follow-on Stalker Block 30 awards from the U.S. Marine Corps and U.S. Army.
Redwire delivered nearly 200 Octopus ISR payloads year to date, up more than 15% from the prior year. Cannito said the company’s development pipeline includes the Stalker Block 40 and Penguin Mk3 platforms, as well as expanded payload and radio-frequency capabilities.
In microgravity operations, Redwire’s venture company SpaceMD signed an agreement to purchase an entire SpaceX Starfall spacecraft. The first SpaceMD Starfall mission is slated for 2028 and is expected to carry up to 32 PIL-BOX units for microgravity research and manufacturing payloads.
About Redwire (NYSE:RDW)Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company's offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.
Formed through the strategic combination of several specialized space technology firms, Redwire's portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.
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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
BIP-110 vstoupil do povinného signalizačního období na bloku 961 632, ale těžaři jej podporovali jen z 2,53 % předchozích 2 016 bloků. Vynucující uzly už odmítají bloky bez version bit 4.
Bitcoin Improvement Proposal 110 entered its mandatory-signaling phase at block 961,632 on Saturday, with miners signaling support in just 51 of the preceding 2,016 blocks, or 2.53%, well below the 55% threshold required for early activation, according to the BIP-110 monitor.
Starting at block 961,632, nodes enforcing BIP-110 began rejecting blocks that did not set version bit 4, while ordinary Bitcoin nodes continued accepting both signaling and non-signaling blocks. A minority BIP-110 branch subsequently emerged, but quickly fell behind the dominant chain.
The low signaling rate makes a sustained rival chain unlikely without substantially greater miner participation. With relatively little mining support, a BIP-110 branch could advance slowly or stop producing blocks altogether.
The milestone tests whether supporters can advance a contentious consensus change without broad miner backing, potentially separating enforcing nodes from the dominant chain and escalating a dispute over how Bitcoin’s block space should be used.
BIP-110 seeks temporary limits on Bitcoin dataWritten by pseudonymous developer Dathon Ohm, BIP-110 proposes additional consensus restrictions lasting roughly one year.
It would limit most new output scripts to 34 bytes, cap OP_RETURN outputs at 83 bytes, restrict certain data pushes and witness elements to 256 bytes, and temporarily limit several Taproot features. Unspent transaction outputs created before activation would be exempt.
Supporters said the restrictions would discourage inscriptions and other non-monetary data that increase storage and bandwidth costs for node operators.
The proposal’s critics, including Strategy Executive Chairman Michael Saylor and Blockstream CEO Adam Back, have argued that the proposal could divide Bitcoin and cause nodes to reject transactions permitted under the network’s existing rules.
The proposal uses version bit 4 for miner signaling. Its deployment schedule sets blocks 961,632 through 963,647 as a mandatory-signaling window, during which nodes enforcing BIP-110 reject blocks that do not carry the signal.
The specification defines block 963,648 as the beginning of its locked-in state and block 965,664 as the point when its transaction restrictions take effect.
BIP-110 proponents have also discussed a more extensive fallback. On Aug. 1, Bitcoin developer Chris Guida rebased preliminary code for a proof-of-work change originally written by Bitcoin Knots maintainer Luke Dashjr.
Guida described the code at the time as a contingency if miners opposed BIP-110, but said no activation date had been set.
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Spotové Bitcoin ETF v USA zaznamenaly ve čtvrtek pátý den čistých přílivů v řadě, a to ve výši 98,85 milionu USD. Ether ETF přidaly 49,60 milionu USD a rostly čtvrtý den po sobě.
Institutional capital isn’t waiting for regulatory perfection. For five trading sessions in a row, U.S. spot Bitcoin exchange-traded funds have absorbed fresh inflows, with Thursday’s total reaching $98.85 million, according to data from SoSoValue. The streak, the longest since mid-July, signals that professional allocators are quietly adding BTC exposure even as Washington debates the future of digital asset legislation.
Spot Ether ETFs didn’t miss the move. They pulled in $49.60 million on the same day, extending their own inflow run to four trading days. The parallel buying suggests the momentum is not isolated to Bitcoin but reflects a broader institutional tilt toward regulated crypto products. While the dollar amounts are modest compared to the blockbuster inflows seen earlier this year, the consistency carries weight at a moment when many have been questioning whether ETF demand had stalled.
A Quiet but Steady Institutional Pulse Daily ETF flow data has become a real-time sentiment gauge for institutional crypto positioning. After a choppy July marred by outflows and macroeconomic jitters, the consecutive inflows indicate that some large players are rebuilding positions. Traders often treat persistent ETF buying as a proxy for conviction, especially when it spans both BTC and ETH products in parallel.
The timing is notable. The Ethereum ecosystem, for instance, remains the most active blockchain by developer count, underpinning the narrative that ETH’s utility supports long-term demand. Meanwhile, networks like Sui are seeing their own institutional traction: an 18% price surge this year was driven in part by institutional staking and a major fintech partnership, as covered in a recent price analysis. These signals suggest that crypto’s institutional chapter is not limited to ETF vehicles alone, but flows into the spot funds remain the cleanest daily pulse check.
Regulatory Uncertainty Still Casts a Shadow Yet the inflows are not happening in a vacuum. Four days before a Senate vote, a landmark crypto bill is facing an eleventh-hour challenge from the banking industry, as noted in a detailed report on the legislation’s fate. The outcome could reshape how custodians, exchanges, and ETF issuers operate in the U.S. market. It’s exactly the kind of policy drama that has historically prompted institutional investors to pause. So far, ETF flows haven’t blinked.
That detachment could mean two things. Either institutional buyers are betting the bill will pass largely intact, or they are simply pricing in a regulatory trajectory that won’t derail the ETF wrapper itself. The latter seems more plausible given that spot Bitcoin ETFs already survived a prolonged SEC battle and have since become a fixture in many portfolios. Ether ETF approval, though more recent, cemented the product class.
What the Flows Signal, and What They Don’t The five-day streak is a positive data point, but it doesn’t tell the whole story. Trading volumes in the spot ETFs have been somewhat subdued relative to the first quarter, and the inflows are still far from the billion-dollar days that defined the initial launch frenzy. It’s a steady accumulation phase, not a speculative surge.
The $98.85 million figure, while respectable, is also small enough to be driven by a handful of large allocators rather than broad retail participation. That makes the streak fragile. A single negative macro print or an unexpected regulatory setback could flip flows back to outflows within a day. Still, the pattern of inflows into both Bitcoin and Ether products suggests that institutional conviction is deeper than short-term price action might imply.
As August progresses, market watchers will be looking to see whether the streak can extend through a full week, a threshold that could shift framing from “tactical rebound” to “renewed accumulation.” The macro backdrop—interest rate expectations, dollar strength, and equity market sentiment—remains the wild card. But for now, the inflow data offers a quiet counter-narrative to the regulatory noise: money is still moving in.
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Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
SharpLink vloží 100 milionů USD ze své pokladny v ETH do on-chain výnosového fondu Galaxy Digital, který přidá dalších 25 milionů USD. Fond má aktivně generovat výnos z ETH prostřednictvím strategií DeFi.
The second-largest Ethereum [ETH] DAT, Sharplink, is investing $100 million of its existing Ethereum stock in a fund run by Galaxy Digital.
Called the “onchain yield fund” Galaxy will contribute an additional $25 million of its own funds, increasing the fund’s total committed capital to $125 million.
What does this mean for Sharplink? That said, the fund aims to produce more returns from the ETH and other digital-asset opportunities by employing blockchain-based tactics. Traditionally, a business that owns Ethereum could stake it and receive rewards for doing so.
But the “on-chain yield” strategy goes one step further by integrating digital assets into different blockchain protocols and financial applications to generate returns.
This could include lending, liquidity provision, staking or restaking, or other decentralized finance (DeFi) activities, depending on the approach. Simply put, instead of holding the assets passively, the fund is actively putting capital to work, and that is what matters.
With this move, Sharplink may be able to boost the economic value produced by its ETH holdings without depending entirely on ETH’s price growth if the strategies work.
In this, Galaxy will oversee the fund, evaluate DeFi opportunities, perform due diligence, and control risks like market volatility, liquidity problems, and smart contract failures, making its role crucial.
Execs weigh in Remarking on the same, Mike Novogratz, Founder and CEO of Galaxy, said,
We’re entering a new phase of institutional adoption, with capital moving from passive ownership to active participation in blockchain-based markets.
Echoing similar sentiments, Joseph Chalom, CEO of Sharplink, added,
We believe this Fund marks a next step for Sharplink expanding its ETH treasury management strategy.
Sharplink’s ETH bet This occurred while Sharplink’s Ethereum holdings were valued at $1.66 billion, or 868,699 ETH. Meanwhile, it has now earned 24,338 ETH in total staking rewards.
This was while its stock price was at $6.43 following a 2.23% increase in the previous trading day. In contrast, the price of Ethereum was at $1,916.03 following a slight increase of 0.24% over the previous day.
Final Summary Rather than just accumulating and holding Ethereum, Sharplink is essentially using a portion of its ETH treasury as productive capital. Galaxy Digital is contributing an additional $25 million to Sharplink’s $100 million ETH treasury.
TRON testuje na Nile Testnet postkvantovou kryptografii a chce se stát první kvantově odolnou blockchainovou sítí. Zkouší i standardizovaný algoritmus ML-DSA-44 od NIST.
TRON, a well-known decentralized L1 chain, is accelerating its security strategy with the testing of post-quantum cryptographic protections. TRON is using the Nile Testnet to test the respective cryptographic security protections. As per the founder of TRON Justin Sun, the platform is ambitious to become the first quantum-resistant network. In this regard, Tron is preparing its ecosystem for likely security threats that increasingly refined quantum computers pose. Hence, with this move, TRON intends to gain a notable position among the earliest blockchain ecosystems to enact quantum-resistant security standards.
TRON is building for the quantum era now.
With post-quantum security already being tested on the Nile Testnet, our goal is clear: become the first quantum-resistant blockchain network. https://t.co/yW4YP51l9U
— H.E. Justin Sun 👨🚀 🌞 (@justinsuntron) August 8, 2026 TRON Prepares for Quantum Era with Next-Gen Security Testing on Nile Testnet TRON’s testing of quantum-resistant security protections on the Nile Testnet is a key step to fortify cryptographic architecture before quantum computing hits the level that can undermine broadly utilized encryption benchmarks. The development underscores the wider initiative to enhance the long-term resilience of the network amid the growing blockchain adoption. In this respect, Nile Testnet is currently compatible with quantum-resistant signature with the use of post-quantum cryptographic algorithms.
Particularly, ML-DSA-44 is one of the crucial technologies that are being tested. It is a standardized algorithm built under the post-quantum cryptography initiative of the National Institute of Standards and Technology (NIST). Such algorithms reportedly remain secure and guard against attacks that significantly advanced quantum computers make possible. The testing has no limitation on transfer authorization.
Additionally, TRON is examining the application of quantum-resistant cryptography across diverse notable components of the blockchain model thereof. The respective ideas take into account block production, smart contract signature verification, wider network infrastructure, and P2P node handshakes. TRON’s approach focuses on preparation instead of waiting for the time when quantum computing poses an immediate threat. The network is leveraging the testnet setting to research and validate the exclusive cryptographic benchmarks ahead of deployment across the wider ecosystem.
Eyeing More Security Updates Before New Quantum Threats According to TRON DAO, the platform is readying for the potentially upcoming “quantum era,” and the new initiative is a part of the wider commitment to infrastructure and security resilience. With the testing ahead of the ultimate quantum threat, the company can assess the performance of unique cryptographic standards across practical on-chain operations. Overall, if this testing moves forward efficiently, it could lead to additional security upgrades to protect against the latest cryptographic threats.
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Qiagen oznámil za 2. čtvrtletí tržby 535 mil. USD a upravený zředěný EPS 0,62 USD, oba nad výhledem. Firma potvrdila celoroční výhled růstu tržeb 1 % až 2 %.
Strategic Buy Lights Up This Biotech Stock: Time to Invest?Qiagen NYSE: QGEN reported second-quarter 2026 results above its prior outlook, with net sales of $535 million, unchanged year over year on both a reported and constant-exchange-rate basis. The company had forecast an approximately 2% decline at constant exchange rates. Adjusted diluted earnings per share were $0.62, exceeding guidance of at least $0.60 at constant exchange rates.
Chief Executive Officer Thierry Bernard said the company’s growth pillars rose 5% at constant exchange rates during the quarter, led by Sample Technologies, QIAcuity digital PCR and QIAGEN Digital Insights. He said QuantiFERON latent tuberculosis testing returned to growth despite a significant decline in U.S. immigration testing demand, while QIAstat-Dx faced a difficult comparison in respiratory testing.
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Product-group performance varied Sample Technologies sales increased 9% at constant exchange rates, supported by automated consumables and higher instrument sales compared with the prior-year period. Diagnostic Solutions revenue declined 2% at constant exchange rates. Within that segment, QuantiFERON grew 1%, as demand across most testing groups outweighed lower immigration testing demand in the U.S. and Middle East.
QIAstat-Dx sales fell 7% at constant exchange rates. Growth in gastrointestinal and meningitis panels was offset by lower respiratory-panel sales against a strong prior-year comparison. PCR and nucleic acid amplification sales declined 8%, although QIAcuity delivered double-digit growth driven by consumables demand. The growth in QIAcuity was more than offset by weaker OEM demand, according to Chief Financial Officer Roland Sackers.
Genomics and next-generation sequencing sales rose 2% at constant exchange rates. QIAGEN Digital Insights posted solid single-digit growth, while consumables for universal NGS panels used on third-party sequencers grew more than 20%. Lower sales of other genomics products moderated the segment’s overall growth rate.
Americas sales rose 1% at constant exchange rates, including 2% growth in North America. EMEA sales declined 2%, with gains in Spain, Belgium and Poland offset by declines in Germany, France and Italy. Asia-Pacific sales declined 2%, though the region excluding China grew at a low-single-digit rate and Japan posted high-teens growth. China sales declined in the low teens year over year, but improved sequentially at a double-digit percentage rate. Margins and cash flow remained high Adjusted operating income declined 2% to $157 million, while the adjusted operating margin was 29.4%, compared with 29.9% in the second quarter of 2025. Sackers said disciplined cost management and efficiency measures helped offset product-mix-related pressure on gross margin. The adjusted cost margin was 66.2%, down from 66.7% a year earlier.
The operating margin improved by 200 basis points sequentially from 27.4% in the first quarter. Qiagen’s adjusted tax rate was 18%, within its 17% to 18% target range.
Operating cash flow totaled $301 million for the first six months of 2026, unchanged from the same period in 2025. The figure included approximately $20 million in cash payments tied to efficiency and restructuring programs, as well as a planned inventory increase ahead of product launches. Days sales outstanding improved to approximately 55 days from 57 days at the end of 2025, while days inventory outstanding increased to 153 from 149.
The company completed a $500 million synthetic share repurchase in January and paid an approximately $72 million annual dividend in July. The dividend rose 40% to $0.35 per share from $0.25 in 2025.
New launches underpin second-half expectations Bernard highlighted progress in the company’s automation portfolio, including the commercial launch of QIAsymphony Connect and early placements of QIAsprint Connect. QIAmini remains scheduled for a fall launch, with beta field testing in North America expected to begin in coming weeks.
In diagnostics, Qiagen launched two QIAstat-Dx bloodstream infection panels in Europe that collectively detect 33 pathogens and 28 antimicrobial resistance markers in about one hour. Bernard said the company expects FDA approval for the panels by year-end. Qiagen also expects its complicated urinary tract infection panel to be available in Europe during the second half of 2027.
The company plans to launch new QIAcuity gene-expression assays and a multiplex kit for up to 12 RNA targets in a single reaction during the second half of 2026. It is also working with DiaSorin and Inpeco on a fully automated QuantiFERON Sample to Insight workflow, targeted for launch in the second half of 2027.
Guidance reaffirmed; strategic review continues Qiagen reaffirmed its full-year outlook for constant-exchange-rate sales growth of about 1% to 2% and adjusted diluted EPS of at least $2.43. For the third quarter, the company forecast sales growth of approximately 1% to 2% at constant exchange rates and adjusted diluted EPS of at least $0.62.
Sackers said the company expects sales growth to improve from a 1% decline in the first half to roughly 3% to 4% in the second half. Management cited the end of headwinds from discontinued NeuMoDx and bioinformatics portfolios, contributions from recent product launches, Parse single-cell analysis performance ahead of its approximately $40 million 2026 sales target, and modestly improving U.S. life-science funding conditions.
Bernard said Qiagen’s CEO search and strategic review are complementary but independent processes. He reiterated that the CEO transition is expected during the second half of 2026 and said the company will continue evaluating options intended to increase shareholder and stakeholder value.
About Qiagen (NYSE:QGEN)Qiagen NV NYSE: QGEN is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company's solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.
The company's product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.
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Grayscale uvedl, že ETF GLNK má k 30. červnu čistá aktiva ve výši 72,2 milionu USD, zatímco LINK ve 2. čtvrtletí klesl o 18 %. Fond vykázal nerealizovanou ztrátu přibližně 16,4 milionu USD.
The ETF market is experiencing a mixed quarter, as some products struggle to maintain their growth. ChainLink illustrates this situation with a fund whose value depends directly on a single asset. Launched on NYSE Arca in December 2025, Grayscale’s product started with solid inflows. Since then, the drop in LINK has reduced its net asset value and slowed its net assets. The latest quarterly report thus confirms a marked slowdown, without signaling any massive investor withdrawals.
In Brief The ChainLink ETF at Grayscale shows $72.2 million in net assets. LINK dropped 18% in the second quarter. GLNK shows an unrealized loss of about $16.4 million. The fund’s assets remain almost stable despite new capital inflows. Grayscale applies an annual fee of 0.35% on the ETF. A Difficult Second Quarter for ChainLink On August 7, Grayscale filed a 10-Q form with the United States Securities and Exchange Commission (SEC). The document concerns the Chainlink Trust, which became an ETF under the symbol GLNK in December 2025.
As of June 30, the fund’s net asset value was $72.2 million. This level remains close to the $73 million recorded in April, despite previously observed capital inflows. The report mainly shows the effect of the price drop on the product’s overall value. At the end of the second quarter, the token was worth $7.25, compared to $8.77 during the previous quarterly filing in May. The decline thus reached 18% over three months, according to figures provided by Grayscale.
This drop brought the fund’s net asset value per share down to $6.38. Grayscale also estimates an unrealized loss of about $16.4 million on its LINK holdings. However, the number of tokens held remained stable during this period.
The Decline of LINK Limits the Fund’s Progress The operation of GLNK directly explains this evolution, as the product relies on a single asset. It therefore has no diversification to mitigate a LINK drop. When the price falls, the value of the fund’s holdings decreases mechanically.
This relationship becomes particularly apparent when new inflows are no longer enough to offset the market decline. The second quarter precisely shows this situation, with almost unchanged net assets despite the capital already brought in.
The ChainLink network provides external data and price information to smart contracts on Ethereum and other blockchains. ChainLink has experienced volatile development since the launch of GLNK on the US market.
In this context, the market for altcoins related to on-chain infrastructure is also going through a difficult period. The drop in the LINK price directly weighed on the fund’s value, while the number of tokens held remained stable over the quarter.
Solid Beginnings Before a Clear Slowdown The fund’s launch had nevertheless shown rapid results according to the report’s data. GLNK attracted $41 million in inflows on its first day of trading. Its assets under management then reached about $64 million in less than 48 hours. In April, this amount rose to about $73 million, confirming initial growth. These figures had fueled much higher projections for the rest of the year.
Some estimates then mentioned between $150 and $300 million in assets by mid-2026. In a more favorable scenario, these projections could reach $400 to $600 million. The second quarter report shows that this trajectory did not materialize. Net assets remain at $72.2 million, far from the most conservative growth scenario. ChainLink retains institutional exposure via GLNK, but the fund’s growth rate has paused.
The document also provides important information on investor flows. The stability in the number of tokens held indicates that the slowdown does not come from massive withdrawals. New capital inflows were impacted by the token’s drop. The current asset level mainly reflects the market effect observed during the quarter.
Reduced Fees for a Structure Still Exposed Grayscale maintains an annual fee of 0.35% on GLNK’s assets. This rate corresponds to the one set when the trust converted into an ETF in December 2025. Before this transformation, the private structure charged 2.5% to accredited investors. Grayscale had also temporarily waived part of the fees until early March 2026. This measure aimed to accompany the transition to the new listed structure.
For the semester ended June 30, the promoter’s fees amounted to about $136,000. This amount corresponds to the announced annual rate, calculated on the average net assets of the fund. It remains low compared to the unrealized loss of $16.4 million recorded for the quarter. These figures however show the particular operation of a crypto ETF focused on a single asset. The structure reduces fees but retains direct exposure to token price variations.
Thus, the ChainLink product continues to be represented on the listed market by a product whose performance closely depends on LINK. This evolution remains linked to the same parameters observed since the beginning of the year.
The next net asset development will therefore depend on the combination of new inflows and price evolution. If the token remains under pressure, the fund’s growth could continue more slowly. Conversely, a market recovery could quickly change the value of assets held. The next quarterly report will mainly measure whether GLNK regains growth momentum or remains close to its current level.
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USDC supply on the Stellar network jumped 34.7% over the past 30 days, pushing the stablecoin’s market cap on the chain to $365.5 million. That’s a meaningful surge for a network that has quietly positioned itself as the go-to rail for cross-border payments and remittances.
The growth spurt didn’t happen in a vacuum. It tracks closely with Circle’s deployment of its Cross-Chain Transfer Protocol, known as CCTP, on Stellar back in May 2026. The protocol connects Stellar to 23 other blockchains, and it appears to be doing exactly what it was designed to do: make USDC flow more freely across the multi-chain landscape.
What CCTP changes about cross-chain USDC Before CCTP, moving USDC between chains typically meant relying on wrapped tokens or third-party bridges. Wrapped tokens introduce counterparty risk because you’re trusting an intermediary to back the wrapped version one-to-one. Bridges, meanwhile, have been the favorite target of hackers for years, with billions lost to exploits across DeFi.
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CCTP sidesteps both problems by using a burn-and-mint mechanism. When you send USDC from Ethereum to Stellar, the tokens on Ethereum are burned and new ones are minted natively on Stellar. No wrappers, no bridges, no middlemen holding your funds in a smart contract.
The protocol now connects Stellar to major ecosystems including Ethereum and Solana, giving users 23 blockchain destinations in total.
Circle’s data as of August 7, 2026, pegged the Stellar-specific USDC supply at roughly $360.5 million.
Stellar’s quiet rise as a stablecoin network USDC first landed on Stellar in February 2021, following an announcement the previous October. Since then, the network has processed over 4.5 million USDC transactions, with total payments volume crossing the $3 billion mark.
The $365.5 million in USDC on Stellar still represents a fraction of the stablecoin’s overall footprint. Total USDC circulation across all supported chains sits at nearly $72 billion as of early August 2026. Stellar’s share comes out to roughly 0.5% of the total supply.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Permian Resources vykázala rekordní volný peněžní tok za 2. čtvrtletí ve výši 751 mil. USD a zvýšila celoroční výhled těžby ropy na 199 000 barelů denně.
If There's a Domestic Manufacturing Boom, These 3 Stocks Could WinPermian Resources NYSE: PR reported record second-quarter free cash flow of $751 million, or $0.88 per share, as higher oil production, increased working interests in completed wells and a rapid response to commodity-price movements supported results.
Co-Chief Executive Officer Will Hickey said free cash flow increased nearly 50% from the prior quarter and exceeded the company’s total free cash flow generated during 2023. He said the company expects full-year 2026 free cash flow to be nearly double its 2024 result.
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High Yield Revival: 3 Cash-Rich Dividend Payers on SaleOil production averaged about 198,000 barrels per day during the second quarter, up 3% sequentially. Hickey said the company increased its workover-rig count by 50% after oil prices moved higher, improving well runtimes and accelerating incremental production. The company also raised its working interest in completed wells to about 82%, compared with its original expectation of 75%.
Those factors, along with well performance, drove approximately 6,000 barrels per day of quarter-over-quarter oil growth for cash capital expenditures of $521 million, according to Hickey.
Gas curtailments limited Waha exposure Plastic Surgery: Winners and Losers of the Proposed 10% Interest CapPermian Resources curtailed natural-gas production from high gas-oil-ratio wells exposed to Waha pricing during the quarter, when Waha natural gas averaged negative $3.14 per Mcf and traded as low as negative $9.52 per Mcf.
The curtailments reduced the company’s natural-gas production by about 20% from the prior quarter. Hickey said firm transportation agreements, hedging and the production curtailments enabled Permian Resources to realize $0.38 per Mcf for its gas during the period, providing more than $75 million of revenue uplift on natural-gas sales.
The company returned all previously curtailed wells to production in late June as Waha pricing improved, Chief Financial Officer Guy Oliphint said. He added that third- and fourth-quarter gas volumes should look more normal and that the company has transportation capacity expected to cover roughly all of its net gas volumes in 2027.
James Walter, co-CEO, said the company has not seen a meaningful change in basin activity due to improved gas egress. However, he said new pipelines coming online appear able to handle restored volumes and incremental growth, while the company feels more confident about crude and natural-gas takeaway capacity over the next several years.
Acquisition program expands Delaware Basin inventory Permian Resources said it has acquired about 55,000 net acres in the core Delaware Basin year to date through roughly 190 separate transactions, for total consideration of approximately $1.05 billion. The transactions added about 330 high-confidence, high-net-revenue-interest drilling locations, the company said.
The company closed a $520 million acquisition in Ward County covering approximately 2,000 net acres and 5,000 barrels of oil equivalent per day. The acreage is adjacent to its existing position and is fully held by production, Walter said.
Following that acquisition, Permian Resources entered an acreage trade agreement with an offset operator that is expected to close in the third quarter. The trade is designed to address the acquired property’s non-operated, low-working-interest and scattered-acreage characteristics. Walter said it is expected to increase operated net locations from 50 to 120 and extend average lateral lengths by 20%.
The company also assembled an approximately 15,000-net-acre contiguous position in Eddy County, New Mexico, called the Parkway bolt-on project. The acreage has two-mile lateral lengths and an 82.5% net revenue interest, Walter said.
Management characterized the acquisition strategy as focused on off-market and smaller transactions where the company believes it has commercial, technical or operational advantages. Walter said Permian Resources evaluates larger marketed packages as well, but remains disciplined on purchase prices and full-cycle return targets.
Guidance increased as working interests rise Permian Resources raised its full-year 2026 oil-production guidance to 199,000 barrels per day, representing 10% growth from 2025. Its capital-expenditure midpoint is now $1.95 billion, about 1% below 2025 spending, according to management.
Oliphint said the revised production outlook increased from 192,500 barrels per day after the first quarter. Of the 6,500-barrel-per-day increase, about 1,000 barrels per day reflects the annualized contribution from the Ward County acquisition. Most of the remaining increase comes from higher working interests in 2026 projects, supplemented by accelerated workovers.
Capital guidance increased by $100 million. Oliphint said approximately $25 million relates to Ward County takeover costs, including bringing equipment to the company’s operating standards, while the remainder reflects higher working interests in wells turned in line. He said the increase should not be doubled to estimate an annualized 2027 impact because most of the spending occurred in the second quarter.
At its current $1.95 billion to $2 billion spending range, Oliphint said the company would continue to grow production, while maintenance capital would be below that level. Management said future growth versus maintenance decisions will depend on commodity prices and service costs.
Efficiency work targets costs and recovery Hickey said Permian Resources is working to offset inflationary pressure from diesel and casing costs through longer laterals, water recycling, water-based mud in areas prone to drilling-fluid losses, slimmer wellbore designs and completion improvements.
The company’s average lateral length has increased to roughly 11,000 feet, and it drilled its first four-mile lateral during the second quarter. Hickey said the company expects lateral lengths to continue rising gradually, rather than through a sharp year-over-year change.
Permian Resources also began surfactant trials in completion and production operations. Hickey said two completion trials have been conducted, with one pad online and another yet to begin production. In late-life production applications, the company has seen results ranging from negligible impact to more than 100 barrels per day of uplift, though management said it is too early to determine the ultimate scale of the program.
The company ended the quarter with leverage of approximately 0.5 times and expects to remain at about that level at year-end. Hickey said the company intends to continue increasing its base dividend over time, while maintaining its existing overall capital-allocation approach.
About Permian Resources (NYSE:PR)Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.
Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.
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