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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.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Sat 08 Aug 2026 ▪ 6 min read ▪ by Ghiles A.

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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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Ghiles A.

Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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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Prestige Consumer Healthcare NYSE: PBH reported first-quarter fiscal 2027 revenue growth of 6.5%, supported by broad-based category strength, the initial contribution from its Breathe Right acquisition and retailer order timing. The company raised its reported full-year outlook to incorporate Breathe Right and LaCorium Health while maintaining its prior outlook for organic revenue growth.

First-quarter revenue rose to $265.7 million from $249.5 million a year earlier. Organic revenue, excluding foreign exchange effects and the Breathe Right acquisition, increased 3.2%. Adjusted diluted earnings per share increased to $0.98 from $0.95, while adjusted EBITDA rose 5.5%.

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“Our business exceeded sales and earning expectations in the first quarter,” Chairman, President and CEO Ron Lombardi said. “We also delivered record adjusted free cash flow, providing additional flexibility for disciplined capital allocation moving forward.”

Portfolio Strength Offsets Clear Eyes Supply Constraints North America organic revenue increased 4.2%, led by gastrointestinal brands Fleet and Dramamine and dermatological growth driven by Compound W. The company also cited solid growth for TheraTears and Debrox, which helped offset weaker Clear Eyes sales amid continued supply constraints.

Lombardi said Prestige is investing in its Pillar5 sterile ophthalmic manufacturing facility to improve supply consistency and expand long-term capacity for Clear Eyes. The company expects output variability to continue during the first half of fiscal 2027, including the second quarter, before greater stability supports sequential improvement in eye-care shipments during the second half.

Clear Eyes represents less than 3% of sales today, according to Senior Vice President, General Counsel and Corporate Secretary Bill P’Pool. Lombardi described the effort to restore the brand as a multiyear process involving consistent supply, rebuilding safety stocks, restoring the full SKU offering and eventually increasing advertising and marketing support.

International organic revenue declined 2.1% in the quarter, reflecting the timing of distributor orders despite positive consumption trends. Prestige continues to expect the segment to return to its long-term organic growth target of at least 5% for the full year.

Chief Financial Officer and Chief Operating Officer Chris Sacco said e-commerce consumption continued to grow at a double-digit rate. However, some e-commerce order timing benefited the first quarter at the expense of the second quarter. Retailer order timing contributed roughly two percentage points of first-quarter growth, Sacco said.

Acquisitions Add Scale and Lift Outlook Prestige completed the acquisition of the Breathe Right portfolio on June 12 and acquired Australia-based LaCorium Health on July 1. The Breathe Right portfolio contributed $5.9 million of first-quarter revenue.

Breathe Right is expected to generate approximately $200 million in annual revenue, with the flagship nasal strip brand accounting for most of that total. The company said the portfolio has been largely integrated into its operations, systems and warehouse network less than 60 days after the transaction closed.

Lombardi said Prestige sees growth opportunities for Breathe Right through social-media marketing, innovation and international expansion. Recent product introductions include Breathe Right Menthol and Breathe Right Sport, a sweat-resistant strip intended to improve airflow during exercise.

LaCorium is expected to contribute about $40 million in annualized revenue, primarily in Australia. Its Dermal Therapy brand holds positions in therapeutic skincare categories including eczema and cold sore treatments. Prestige said LaCorium employees have joined its Care Pharma office outside Sydney, while broader integration will continue over the rest of the fiscal year.

Management expects additional LaCorium synergies over the next one to two years through sales-force integration, marketing opportunities, distributor optimization and supply-chain efficiencies.

The acquisitions are expected to contribute approximately $190 million in fiscal 2027 revenue. Sacco said Breathe Right remains expected to provide about $0.25 of annualized earnings-per-share accretion in a normal environment, although the initial stub period and timing factors could reduce that contribution by a few cents in the near term.

Margins, Cash Flow and Debt Plans Adjusted gross margin was approximately 55% in the first quarter, flat sequentially but down 120 basis points from the prior year due mainly to higher transportation costs and sales mix. Prestige now expects adjusted gross margin of slightly more than 57% in both the second quarter and full fiscal year, with the increase in outlook attributed entirely to the acquired businesses.

Advertising and marketing spending totaled $34.7 million, or 13% of sales, in the first quarter, reflecting the timing of marketing programs. The company expects advertising and marketing expense to be approximately 14.5% of sales for the full year and second quarter. Adjusted general and administrative expenses are expected to be about 10% of sales for the year, aided by acquisition-related scale.

Adjusted free cash flow reached a quarterly record of $83.7 million, driven largely by working-capital timing. Prestige raised its full-year adjusted free-cash-flow expectation to at least $270 million.

At June 30, net debt was approximately $2 billion. The company funded the Breathe Right acquisition through a new seven-year Term Loan B and cash on hand, with those resources also funding the LaCorium transaction. Prestige also issued $400 million of new unsecured notes to replace notes that were approaching maturity. Its earliest debt maturity is now 2031, and management said it intends to begin paying down prepayable debt during the remainder of fiscal 2027.

Fiscal 2027 Guidance Raised for Acquisitions Prestige raised its fiscal 2027 revenue outlook to a range of $1.290 billion to $1.315 billion. The company maintained its expectation for organic revenue growth of 1% to 3%, saying the higher reported revenue outlook is entirely due to Breathe Right and LaCorium.

Second-quarter revenue is projected at $328 million to $331 million, including both acquisitions. Second-quarter adjusted diluted EPS is expected to be approximately $1.06 to $1.08. Full-year adjusted diluted EPS is forecast at $4.55 to $4.65. Year-end leverage is expected to be just below 4 times. Management expects a modest organic revenue decline in the second quarter because of order timing that benefited the first quarter, while still projecting organic revenue growth for the first half of the fiscal year.

Lombardi said consumer consumption trends remain stable in Prestige’s categories, though shoppers are increasingly focused on value. He cited continued growth in e-commerce and mass retail channels, where consumers can more readily compare prices.

About Prestige Consumer Healthcare (NYSE:PBH)Prestige Consumer Healthcare, Inc is a leading manufacturer and marketer of branded over-the-counter (OTC) healthcare products. The company focuses on developing, acquiring and commercializing a diverse portfolio of non-prescription remedies designed to address common consumer health needs, including pain relief, cold and cough, digestive health, eye care, skin care and women's health.

Key brands in Prestige's portfolio include Clear Eyes (eye health), Carmex (lip care), Chloraseptic (sore throat relief), Dramamine (motion sickness), Rolaids (antacid), Monistat (women's health), BC Powder (pain relief), Little Remedies (pediatric cold and gas relief) and TheraTears (dry eye therapy).

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HSAs for Gym Memberships? These 3 Fitness Stocks Could SoarPlanet Fitness NYSE: PLNT reported second-quarter revenue growth of 7% as the fitness chain continued efforts to rebuild sustainable membership growth through changes to its marketing, pricing tests and member experience.

Total revenue rose to $365 million in the second quarter from $341 million a year earlier. System-wide same-club sales increased 1.7%, with both franchisee and corporate-owned club same-club sales up 1.7%. Chief Financial Officer and President International Sudhanshu Priyadarshi said the comparable-sales increase was entirely driven by rate growth.

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3 gym stocks to cash in on dieters’ New Year's resolutions The company ended the quarter with 21.5 million members, up 3.6% from a year earlier and flat with the first quarter. Average monthly attrition was 3.5%, at the midpoint of Planet Fitness’ historical 3% to 4% range. Black Card penetration reached approximately 68%, an increase of 210 basis points from the prior-year period.

Profitability and capital allocation Net income was $67 million, while adjusted net income was $68 million. Adjusted earnings per diluted share were $0.88. Adjusted EBITDA increased 3.5% year over year to $153 million, though adjusted EBITDA margin declined to 41.8% from 43.3%.

MarketBeat Week in Review – 9/25 - 9/29Franchisee segment revenue increased 13%, driven primarily by higher national advertising fund revenue, royalty revenue tied to same-club sales and new clubs, and franchise and other fees. The company increased national advertising fund contributions to 3% from 2% for 2026. Excluding the national advertising fund, franchisee adjusted EBITDA margins were consistent with the prior year, Priyadarshi said.

Corporate-owned club revenue increased 4%, aided by new clubs and same-club sales growth. Equipment segment revenue also rose 4%, reflecting higher sales for new franchisee club placements and replacement equipment. Replacement equipment accounted for 85% of total equipment revenue during the quarter.

Planet Fitness opened 23 clubs in the quarter, including 21 franchise locations and two corporate-owned clubs. Five of the openings were international. The company said it remains on track to open 180 to 190 clubs system-wide during 2026, with openings and equipment placements weighted toward the fourth quarter.

During the quarter, the company repurchased approximately 4 million shares at an average price of $50.44, spending $200 million. Year-to-date repurchases totaled $250 million, leaving $250 million available under its $500 million authorization. Planet Fitness used cash on hand and a $75 million drawdown on a variable funding note to support the repurchases and said it plans to repay the drawdown by year-end.

Marketing and pricing initiatives Chief Executive Officer Colleen Keating said the company is prioritizing member acquisition and affordability as it seeks to reach the roughly 70% of the U.S. population not paying for a fitness membership. Planet Fitness is updating its marketing to emphasize its welcoming, non-intimidating environment and its value proposition for fitness beginners and casual gym-goers.

The company has refined existing advertising creative to show a broader range of fitness levels, reduce the emphasis on sweat and brighten imagery. Interim creative with a more lighthearted tone is expected to enter the market during the current quarter. Planet Fitness also plans to test a broader new campaign ahead of its key first-quarter acquisition period, with a planned launch in late December.

Keating said the company believes its prior campaign successfully conveyed that members could get strong and use quality equipment at Planet Fitness, but it did not fully communicate the brand’s approachability to all target consumers. The company plans to conduct extensive consumer testing as it develops its next campaign.

Planet Fitness is also conducting regional and local tests of different pricing structures, including tiers and price points. Later this quarter, it plans to run a limited-time national promotion offering the Classic Card at $10. Keating said the promotion is intended to measure regional price elasticity and demand, not to signal a permanent rollback from the current $15 Classic Card price.

Members who join at the promotional price would retain that rate as long as they remain members, Keating said. She added that a prior localized $10 test did not show significant trading down from $15 memberships. Management is also evaluating regional variation in pricing and continues to assess future Black Card pricing opportunities, though it has paused a nationwide Black Card price increase while focusing on net member growth.

Member retention and experience The company is deploying a predictive artificial-intelligence churn model within its customer relationship management platform to identify early churn indicators. The model remains in an alpha phase, and Planet Fitness plans to add a “next-best-action” capability intended to provide retention offers.

Planet Fitness also plans to work with franchisees on elements of a first 100-day member program, designed to improve engagement shortly after a member joins. Since many members enroll online, Keating said early outreach and club visits could help teams understand members’ goals and connect them with relevant equipment and services.

In September, the company expects to launch a redesigned app featuring a personalized home screen, expanded workout activity tracking, progress metrics and improved Crowd Meter accuracy. Planet Fitness is also testing additional Black Card Spa recovery offerings at 100 clubs across multiple designated market areas. The test is intended to measure effects on joins, membership mix, upgrades and retention.

Keating said the company’s Net Promoter Score was up nine percentage points year over year at the end of the second quarter, which she attributed in part to club-format optimization and equipment investments.

Outlook remains largely unchanged Planet Fitness raised its outlook for adjusted earnings per diluted share to approximately 6% growth from its previous expectation of approximately 4%, reflecting a lower expected share count following repurchases. The company now expects adjusted diluted weighted-average shares outstanding of approximately 77 million, compared with its prior expectation of approximately 79 million.

Higher interest expense associated with the variable funding note drawdown partially offsets the share-count benefit. Planet Fitness now expects interest expense of approximately $115 million, up $4 million from prior guidance, and expects adjusted net income to decline approximately 3%, compared with its previous forecast for a 2% decline.

The rest of the company’s outlook was unchanged. Planet Fitness continues to expect approximately 1% system-wide same-club sales growth, 7% revenue growth and 6% adjusted EBITDA growth for 2026. Management said it expects comparable-sales growth to moderate sequentially through the year but does not forecast negative same-club sales in either the third or fourth quarter.

About Planet Fitness (NYSE:PLNT)Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.

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OUTFRONT Media NYSE: OUT reported stronger-than-expected second-quarter results, citing continued advertising demand, growth in transit and billboard revenue, and a contribution from FIFA World Cup-related campaigns.

Chief Executive Officer Nick Brien said consolidated revenue increased 14% year over year in the second quarter, driven by 32% transit revenue growth and 8% billboard revenue growth. Adjusted OIBDA rose 29% to $160 million, while adjusted funds from operations, or AFFO, increased 45% to $121 million.

The company generated more than $35 million in World Cup-related revenue during the quarter and more than $50 million overall, Brien said. OUTFRONT estimated that about half of the World Cup revenue was incremental to its typical business.

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Transit growth led by New York MTA Transit revenue increased 32%, led by a 48% gain at the New York Metropolitan Transportation Authority. The strongest transit advertising categories were technology, entertainment and financial services, according to Brien.

Digital transit revenue rose nearly 36% to approximately $68 million, while static transit revenue increased more than 29%. OUTFRONT estimated FIFA contributed about $17 million in transit revenue during the second quarter.

Billboard revenue grew 8%, or 9.4% excluding the effect of a previously announced exit from a large, marginally profitable billboard contract in Los Angeles. Technology, including artificial intelligence-related advertisers, along with legal and medical categories, were the strongest billboard categories.

Digital billboard revenue increased 17.6% on a reported basis, while static and other billboard revenue rose 3.8%. Excluding the exited Los Angeles contract, digital billboard revenue would have risen more than 21% and static and other billboard revenue would have increased 4.3%, the company said. FIFA contributed an estimated $19 million to billboard revenue in the quarter.

Combined digital revenue increased more than 23% and represented about 37% of total revenue, compared with 34% in the prior-year period. Excluding the Los Angeles contract, digital revenue would have increased 26%. Programmatic and digital direct automated sales climbed nearly 50% and accounted for 20% of digital revenue, up from about 17% a year earlier.

Brien said the company sees “tremendous runway” for programmatic sales, noting that OUTFRONT remains below broader digital-media programmatic adoption levels. The company has added sales and strategy resources focused on its advertising technology relationships and programmatic business, he said.

Margins improve despite higher costs Billboard expenses increased nearly $15 million, or about 7%, year over year. Lease costs rose $6 million, reflecting higher variable lease expenses and contractual escalators, partly offset by $4 million in savings related to the Los Angeles contract exit.

Billboard adjusted OIBDA rose more than $13 million, or 10%, as revenue growth exceeded expense growth. Billboard yield increased 12% to $3,344 per month, driven principally by efforts to establish higher rates and by FIFA-related activity.

Transit expenses increased $8 million, or just over 8%, while transit adjusted OIBDA improved by about $26 million to $33 million. Chief Financial Officer Matthew Siegel said the company will continue recording New York MTA transit franchise expense at the minimum annual guarantee of $161 million for 2026, recognized evenly each quarter.

Siegel said the accounting approach reflects the company’s assessment that it does not expect to recover the full cost of digital investments made under the MTA contract during the life of the agreement. The company had previously recognized a transit impairment in 2023.

Investment plans and updated AFFO outlook OUTFRONT said it is accelerating investments in digital growth, programmatic sales, data analytics, training and sales technology. The company hired Chief Data Officer Huw Griffiths late in the second quarter to advance audience intelligence and measurement capabilities.

Siegel said the company expects SG&A expense growth to outpace revenue growth for the remainder of 2026 as it invests to support revenue performance in 2027 and beyond.

Second-quarter capital expenditures totaled about $17 million, including roughly $6 million of maintenance spending. The company added 51 digital boards in the quarter and expects to add approximately 125 for the full year. It maintained its full-year capital expenditure forecast of about $90 million, including $30 million to $35 million of maintenance capital expenditures.

Based on year-to-date results and its outlook, OUTFRONT now expects reported 2026 AFFO to grow in the low-20% range from reported 2025 AFFO of $338 million. The outlook includes expected maintenance capital expenditures, approximately $145 million of interest expense and a small amount of cash taxes.

Balance sheet, dividend and second-half outlook As of June 20, OUTFRONT had nearly $600 million of committed liquidity, including about $30 million of cash, roughly $500 million available under its revolving credit facility and $50 million available through an accounts receivable securitization facility. Net total leverage was around 4 times, at the lower end of the company’s stated 4-times to 5-times target range.

During June, the company refinanced $650 million of 5% notes due in 2027 with $500 million of senior unsecured notes due in 2034 carrying a 6% coupon. The remaining balance was funded with a draw on its accounts receivable facility and cash on hand.

The board increased the quarterly cash dividend 10% to $0.33 per share, payable Sept. 30 to shareholders of record as of Sept. 4. OUTFRONT also spent just over $11 million on acquisitions during the quarter.

For the third quarter, Brien said the company expects revenue growth in the high-single-digit percentage range, including approximately 20% transit growth and mid-single-digit billboard growth. The outlook includes a $16 million World Cup benefit, with about $9 million expected in billboard revenue and $7 million in transit revenue.

About OUTFRONT Media (NYSE:OUT)OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on ItParker-Hannifin NYSE: PH reported record fiscal 2026 results, including first-time annual sales above $20 billion, record operating cash flow and adjusted earnings per share growth of 18%, as the industrial and aerospace manufacturer also introduced fiscal 2027 guidance calling for another year of growth.

Chairman and Chief Executive Officer Jennifer Parmentier said fiscal 2026 sales reached $21.5 billion, with organic growth accelerating to 6.6%. Adjusted segment operating margin expanded 120 basis points to a record 27.3%, while adjusted EPS rose to $32.31. Cash flow from operations increased to a record $4.4 billion, surpassing $4 billion for the first time.

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Netflix, Pulte, and Mobileye Are Buying Their Own Dips—Should You?Parmentier also said the company reduced its recordable incident rate by 9%, calling fiscal 2026 Parker-Hannifin's safest year on record.

Fourth-quarter records and aerospace strength Chief Financial Officer Todd Leombruno said the company finished the year with record fourth-quarter sales, margins, net income and adjusted EPS. Quarterly sales rose 10% from a year earlier, including 8% organic growth, while the Curtis Instruments acquisition contributed 1.5 percentage points to sales growth. Currency was slightly unfavorable.

Homebuilder Earnings: D.R. Horton Sticks Out as Pulte & NVR Sales TankFourth-quarter adjusted segment operating margin rose 110 basis points to 28.0%, the first time Parker-Hannifin exceeded that level. Adjusted EBITDA margin was 28.6%, and adjusted EPS increased 21% to $9.27. Leombruno said more than 80% of the year-over-year EPS increase came from higher segment operating income.

Orders increased 19% on the company's prior three-month comparison basis and 12% on a rolling 12-month basis. Backlog rose 16% to a record $12.8 billion.

North American industrial sales were $2.2 billion, with organic growth of about 5% and a record 27.4% adjusted operating margin. International industrial sales reached a record $1.6 billion, with 6.5% organic growth. Asia-Pacific organic growth was 16%, while Europe, the Middle East and Africa grew 1% and Latin America declined 3%. Aerospace quarterly sales reached a record $1.9 billion, with 13.4% organic growth and a 29.8% margin. Aerospace backlog rose 15% to a record $8.5 billion. Parmentier said aerospace recorded its fourth consecutive full fiscal year of double-digit organic growth. In the fourth quarter, aerospace orders rose 18%, supported by double-digit growth in commercial original equipment and aftermarket activity, as well as strength in defense OEM markets.

New long-term margin target and order-reporting change Having exceeded its fiscal 2029 margin target ahead of schedule, Parker-Hannifin set a new adjusted segment operating margin target of 30% by fiscal 2031. The target represents a 300-basis-point increase from the prior 27% objective.

The company retained its longer-term goals of 4% to 6% organic growth through the cycle, a 17% free-cash-flow margin and adjusted EPS growth above 10% through the cycle. Leombruno said the company expects all businesses to contribute to the margin expansion, though he expects industrial operations to expand faster than aerospace as the company works toward the 2031 target.

Parker-Hannifin will also shift industrial order-rate reporting to a rolling 12-month calculation beginning in fiscal 2027. Parmentier said the company has changed significantly since it began reporting quarterly industrial order comparisons two decades ago, with aerospace, engineered materials and filtration technology platforms representing about 65% of pro forma sales following the expected Filtration Group transaction.

Management said the rolling 12-month measure has a stronger correlation with near-term organic sales growth, particularly as Parker-Hannifin has gained greater exposure to longer-cycle markets.

Capital deployment and pending acquisitions The company deployed or announced more than $15 billion of capital actions during fiscal 2026. Parker-Hannifin completed its $1 billion acquisition of Curtis Instruments in September, expanding its electrification capabilities. It also announced pending acquisitions of Filtration Group Corporation and CIRCOR's commercial Aerospace & Defense business, representing nearly $12 billion in announced transactions.

Parmentier said the Filtration Group deal would expand Parker-Hannifin's proprietary filtration offerings and increase its filtration aftermarket exposure by 500 basis points. The CIRCOR transaction is intended to add complementary flight-critical motion and flow-control technologies.

Management expects both pending acquisitions to close during the second half of the calendar year, subject to customary closing conditions and regulatory approvals. The company said it has not modeled revenue synergies for the CIRCOR business but expects about $26 million of synergies, or roughly 10%.

During fiscal 2026, Parker-Hannifin returned nearly $2 billion to shareholders through approximately $1 billion in buybacks and nearly $1 billion in dividends. It also invested $500 million in capital expenditures. Despite those actions, net debt-to-adjusted EBITDA declined to 1.4 times from 1.7 times a year earlier.

Fiscal 2027 outlook Parker-Hannifin initiated fiscal 2027 guidance for reported and organic sales growth of 5.5% to 8.5%, with a 7% midpoint that would translate to roughly $23 billion in annual sales. The outlook excludes contributions from the pending Filtration Group and CIRCOR transactions.

The company forecast 6.5% organic growth at the midpoint for North American industrial operations, 5.5% for international industrial operations and 8.5% for aerospace. Adjusted segment operating margin is expected to reach 27.7% at the midpoint, up 40 basis points from fiscal 2026, while adjusted EPS is projected at $34.75, up 8%.

Management forecast positive growth across every major market vertical. Aerospace and defense is expected to grow at a high-single-digit rate, supported by mid-teens commercial OEM growth, sustained commercial aftermarket activity and solid defense demand. Parker-Hannifin expects mid-single-digit growth in industrial, transportation, off-highway, energy, HVAC and refrigeration markets.

For energy, Parmentier said the company expects strong and sustained demand tied to gas-turbine power generation, while oil and gas activity is expected to be flat. She also said data-center-related sales now account for about 1.5% of company revenue and are expected to continue growing, supported by liquid-cooling systems and related components.

About Parker-Hannifin (NYSE:PH)Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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Philip Chesley, the SVP of high-performance analog at Qorvo, Inc. (QRVO +3.93%), disposed of 2,999 shares of common stock on August 5, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$285,000Shares sold (direct)2,999Post-transaction shares (directly held)49,508Post-transaction value$4.72 millionTransaction value based on SEC Form 4 weighted average sale price ($95.04); post-transaction value based on the August 5 market close ($95.25).

Key questionsWhat was the nature of this transaction?
The disposal of 2,999 shares was a non-discretionary transaction executed to satisfy tax withholding obligations upon the vesting of restricted equity and does not reflect a change in the insider's market outlook.How does this affect Philip Chesley's remaining equity exposure?
Following this 6% reduction in direct holdings, Chesley continues to hold 49,508 shares directly, representing a total beneficial position valued at $4.72 million as of the August 5 market close.What is the broader valuation context for the firm?
As of the August 6 market close, the stock was priced at $95.33, with the company maintaining a market capitalization of $8.4 billion and a one-year return of 12% as of the transaction date.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$95.33Market Capitalization$8.4 billionRevenue (TTM)$3.6 billionNet Income (TTM)$399.2 millionCompany SnapshotQorvo designs and manufactures radio frequency, analog, and power semiconductor components for wireless, wired, and power applications across consumer electronics, infrastructure, and defense markets.The company operates through two primary business segments—Mobile Products and Infrastructure and Defense Products—generating revenue through the supply of critical semiconductor components to original equipment manufacturers and system integrators.Qorvo serves a diverse customer base, including smartphone manufacturers, telecommunications infrastructure providers, automotive suppliers, and defense contractors, with significant exposure to 5G deployment and mobile device proliferation globally.Qorvo is a global semiconductor specialist headquartered in Greensboro, North Carolina, with approximately 5,000 employees and an $8.4 billion market capitalization. The company maintains a diversified revenue base across consumer mobile devices and infrastructure markets, generating $3.6 billion in TTM revenue with net income of $399.2 million, reflecting its position as a critical supplier of RF and analog components in the semiconductor value chain. Qorvo's competitive advantage derives from its integrated design and manufacturing capabilities, extensive intellectual property portfolio, and established relationships with leading OEMs in high-growth wireless and defense sectors.

What this transaction means for investorsTwo main numbers are worth watching with Qorvo right now, and neither of them are in the filing. First is the gap between where the stock trades and what the takeover is set to pay, and second is Skyworks’ stock, since Qorvo is being bought in a deal that pays $32.50 in cash plus 0.960 of a Skyworks share for each Qorvo share. As of Friday, Skyworks stock is down about 12% since the October announcement.

Earlier this week, Skyworks filed an 8-K with the Securities and Exchange Commission that included an update on the merger, saying it and Qorvo “continue to work constructively with the State Administration for Market Regulation in China and the Korea Fair Trade Commission in South Korea, which are the only jurisdictions that remain open.” The firm also said it remains “hopeful” the transaction will close this calendar year.

Again, a tax-driven vesting sale by an executive does nothing to move Qorvo right now. Chesley's filing is one of seven from Qorvo insiders on the same vesting date, all the same routine withholding, which is what a shared grant calendar produces. More important for investors is the verdict on the merger.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Qorvo. The Motley Fool has a disclosure policy.

Envista NYSE: NVST reported second-quarter 2026 sales of $731 million, supported by 5% core revenue growth and contributions from foreign exchange and acquisitions that lifted total revenue growth to just over 7%.

President and Chief Executive Officer Paul Keel said the company delivered balanced growth across its two reporting segments and major geographies, while the dental market remained resilient amid macroeconomic pressure. The company reported 7% core growth for the first half of 2026.

Adjusted EBITDA increased 28% year over year, while adjusted EBITDA margin expanded 230 basis points to 14.7%. Adjusted earnings per share rose 58% to $0.41. The company generated $105 million in free cash flow during the quarter, representing 158% conversion, and repurchased approximately 2.4 million shares at an average price of $24 per share.

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Segment growth led by equipment and consumables Equipment and Consumables posted 8.5% core sales growth, with high-single-digit growth in both consumables and diagnostics. Keel said consumables benefited from its relative insulation from macro volatility because its products support procedures that are typically covered by insurance. Diagnostics also benefited from a market recovery following a multiyear post-COVID contraction, he said.

Keel said Envista estimates the consumables and diagnostics markets grew at mid-single-digit rates during the first half, while the company’s businesses grew at high-single-digit to low-double-digit rates. He attributed the outperformance to share gains, commercial and operational initiatives, and new-product activity.

Specialty Products & Technologies reported 3.1% core sales growth and nearly 6% total revenue growth. Spark clear aligners again delivered double-digit growth, or high-single-digit growth after accounting for changes in revenue deferrals. Implant core sales increased by low single digits, while brackets and wires declined by high single digits against a prior-year comparison that benefited from customer purchases ahead of tariff and pricing actions.

Adjusted operating profit in Specialty Products & Technologies increased $9 million, or 15%, and segment margin improved 120 basis points. Equipment and Consumables adjusted operating profit increased 25%, with operating margin rising 250 basis points, driven by pricing, volume and foreign-exchange benefits.

New products and investment initiatives During the quarter, Envista launched ZenSeal Pro, a bioceramic endodontic sealer used in root canal procedures, and Demi Pro, a lightweight cordless curing light for restorative procedures. Keel said the company expects the launches to build on recent consumables share gains.

In orthodontics, Envista expanded Ormco Digital Bonding, or ODB, to all of its bracket systems. The digital platform was initially launched in 2023 with the Damon Ultima system. Keel said the expanded offering makes Envista the only scaled player offering complete solutions across both clear aligners and fixed orthodontics.

The company also discussed ongoing implant investments. Keel said the S-series implant launch introduced in the first quarter was ahead of plan, with roughly one-quarter of sales coming from competitive conversions. An abutments product is available in Europe and could launch in North America during the second half, subject to regulatory approvals. The company’s Versah acquisition, which added osseodensification technology, is also performing ahead of its acquisition plan, according to Keel.

China VBP expectations and second-half cadence Envista expects China’s volume-based procurement processes for orthodontics, or VBP1, and implants, or VBP2, to occur in the second half of 2026. Management incorporated that assumption into its revised outlook.

Keel said Envista expects orthodontics VBP1 to result in price compression similar to the first implant VBP, which saw prices decline by roughly 45%, although he said the company expects share gains. For implant VBP2, Envista expects a smaller price decline of approximately 10% to 15%.

Management expects China to grow moderately in the second half, with somewhat stronger growth in the fourth quarter. Chief Financial Officer Eric Hammes said the company has maintained a lean channel position and expects its global presence, supply chain and market position to support a post-VBP response. He said Envista was down year over year in China during the first half.

Hammes also said the company expects approximately 3.5% core growth in the second half on a normalized basis. Reported fourth-quarter core growth is expected to be flat to slightly down because the quarter will have four fewer selling days than the prior-year period. Excluding the calendar effect, the company expects fourth-quarter core growth to align with its full-year guidance range.

Raised full-year outlook Envista raised and narrowed its 2026 guidance, now expecting:

Core sales growth of 3.5% to 4.5%. Adjusted EBITDA growth of 11% to 14%. Adjusted EPS of $1.50 to $1.55. Free cash flow conversion of approximately 100% of adjusted net income. Hammes said the company expects foreign-exchange effects on both revenue and profit to be nominal to near zero in the second half, assuming currency rates remain near recent levels. He also said Envista now expects a full-year non-GAAP tax rate of about 26%, about two percentage points below its initial guidance.

Looking ahead, Envista plans to hold an investor day on Sept. 17, where management said it will provide an update on the value-creation plan introduced in March 2025, financial progress and innovation priorities across its four main businesses.

About Envista (NYSE:NVST)Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company's offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista's product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.

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ONE Gas NYSE: OGS reported higher second-quarter earnings and said it now expects full-year adjusted results to fall within the upper half of its previously issued 2026 guidance range, supported by new rates, Texas regulatory benefits, customer growth and cost discipline.

Adjusted net income for the second quarter was $52.1 million, or $0.82 per diluted share, compared with $32.7 million, or $0.54 per share, a year earlier. GAAP earnings per share rose to $0.74 from $0.53. Chief Executive Officer Sid McAnnally said adjusted earnings per share grew 16% in the first half from the prior-year period despite weather that was 25% warmer.

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McAnnally said the company maintained average customer bills flat year over year while increasing its dividend. The board declared a quarterly dividend of $0.68 per share, unchanged from the prior quarter.

Guidance Moves Toward Upper Half The company maintained its full-year adjusted net income guidance of $306 million to $314 million and adjusted EPS guidance of $4.83 to $4.95. However, Chief Financial Officer Chris Sighinolfi said ONE Gas now expects adjusted net income of $310 million to $314 million and adjusted EPS of $4.89 to $4.95.

Sighinolfi attributed the outlook in part to approximately $16 million of revenue from new rates during the quarter and greater-than-expected benefits from Texas House Bill 4384. The Texas law allows gas utilities to defer depreciation expense and ad valorem taxes, while accruing carrying costs on eligible capital projects between their in-service dates and inclusion in customer rates.

ONE Gas now expects House Bill 4384 to contribute about $0.42 to full-year adjusted EPS. Sighinolfi said the benefit can fluctuate quarterly based on the timing and amount of eligible capital placed into service. He said the second quarter generally represents a larger share of the annual benefit due to the cadence of the company’s annual Gas Reliability Infrastructure Program, or GRIP, filing.

The company also benefited from capacity-release revenue after warm winter weather reduced gas storage withdrawals. ONE Gas ended the first quarter with storage inventory about 25% above plan, allowing it to release capacity during the refill season. The company recognized about $900,000 of related revenue during the second quarter and $2.8 million year to date, with an estimated additional $1.2 million opportunity through the injection season.

Regulatory Updates Oklahoma Natural Gas filed a performance-based rate change application in February seeking a $28.7 million increase. An administrative law judge recommended approval as filed following a June hearing, and interim rates subject to refund began in late June.

Texas Gas Service requested a $36.9 million revenue increase in its March GRIP filing. The Texas Railroad Commission approved the request in June, and the resulting rates became effective in July. Sighinolfi said the filing was the company’s first statewide GRIP filing and the first to reflect expanded House Bill 4384 provisions.

Meanwhile, Kansas Gas Service filed in July for an approximately $14.3 million increase under the state’s Gas System Reliability Surcharge statute. Rates are expected to take effect in October. The filing reflects provisions of Kansas House Bill 2435, which expanded eligible investments, raised the maximum residential monthly surcharge to $1.35 from $0.80 and reduced the review period to 90 days from 120 days.

The company said it does not plan to file a full rate case until its Oklahoma filing in 2027, as required by tariff.

Large-Load Projects and Capital Deployment President and Chief Operating Officer Curtis Dinan said ONE Gas completed $188 million of capital projects in the quarter, roughly in line with the same period last year. Through July, the company had installed 11,000 new meters, led by activity in Oklahoma City and El Paso.

The company has three high-volume projects under contract that collectively represent about $15 million in incremental annual revenue and $175 million of associated capital. Their in-service dates range from the second half of 2026 through 2028.

A Western Farmers gas-fired generation project in southern Oklahoma remains on track for third-quarter 2028 service. The project includes a 43-mile, 24-inch pipeline, with installation expected to begin in early 2027. An El Paso project serving an advanced manufacturing facility is in construction or commissioning and is expected to enter service during the current quarter. An Oklahoma data-center project is also expected to enter service during the current quarter. Dinan said the data-center project had previously been among six late-stage opportunities discussed by the company. The five remaining late-stage prospects span Kansas, Oklahoma and Texas and could support approximately 3 gigawatts of generation and as much as 1 billion cubic feet per day of demand. ONE Gas also has 17 additional opportunities in earlier stages of evaluation.

Management said some of the remaining late-stage projects could be contracted before year-end, while others could move into 2027.

Costs, Financing and Dividend Strategy Second-quarter operations and maintenance expense increased about 6.6% from a year earlier, moderating from an increase of more than 8% in the first quarter. The company cited elevated line-locating work related largely to fiber installation, as well as higher fleet fuel costs tied to geopolitical unrest.

Still, ONE Gas maintained its long-term expectation for annual O&M growth of 3% to 4%. Sighinolfi said the company expects year-over-year O&M growth to move “meaningfully” lower in the third and fourth quarters as it realizes efficiencies from bringing more work in-house.

Line-locating activity increased about 7% year over year in the quarter, while damages declined 6%, Dinan said. The company has also insourced 40% of its watch-and-protect function in Oklahoma and expects to complete that transition by year-end.

Excluding amounts related to KGSS-I, interest expense fell $3.8 million from the prior-year quarter, partly due to lower commercial-paper rates. ONE Gas has forward-sale equity agreements totaling about $41.5 million, representing roughly half of its equity need for the year, according to Sighinolfi.

Management said its current five-year plan contemplates annual dividend growth of 1% to 2% through 2030, while the company seeks to fund a greater share of capital investments internally. Sighinolfi said the board will continue to evaluate dividend policy as part of its planning process.

About ONE Gas (NYSE:OGS)ONE Gas, Inc is a publicly traded natural gas utility company focused on the regulated distribution of natural gas to residential, commercial and industrial customers. Headquartered in Tulsa, Oklahoma, the company owns and operates an integrated system of transmission and distribution pipelines, storage facilities and compressor stations designed to deliver safe, reliable energy to end users. Its operations are governed by state utility commissions, which set rates and service standards in the markets the company serves.

The company's service territory spans three states: Oklahoma, Kansas and the Texas Panhandle.

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3 High-Potential Stocks Analysts Say Could SoarOwens Corning NYSE: OC reported second-quarter 2026 revenue of $2.8 billion and adjusted EBITDA of $660 million, producing a 24% adjusted EBITDA margin as the building-products manufacturer cited commercial and operational initiatives that helped offset uneven construction and remodeling conditions.

Adjusted earnings per diluted share were $3.93. Revenue was relatively flat from the prior-year period, while free cash flow rose to $199 million from $129 million a year earlier. The company said it returned $264 million to shareholders during the quarter through $200 million of share repurchases and $64 million in dividends, bringing first-half capital returns to $327 million.

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MarketBeat Week in Review – 8/5 - 8/9“Our team delivered outstanding results in the second quarter, demonstrating the strength of the company we have built and our ability to execute at a high level in any market condition,” Chair and CEO Brian Chambers said.

Costs, capital spending and leadership changes Chief Financial and Operating Officer Todd Fister said second-quarter EBITDA included a $25 million benefit from tariff refunds, with about half of the refund affecting the doors business and the rest spread across the enterprise. The refunds partially offset $30 million in net cost inflation related to the Iran conflict, he said.

Owens-Corning Stock: Good Value or Recession Red Flag?Owens Corning expects the net cost impact related to Iran to be about $40 million in the third quarter as inflation moves through inventory, with roofing expected to be the most affected segment. Fister said the company has more than $20 million in potential additional tariff refunds pending, though the timing is uncertain and the potential refunds were not included in the company’s third-quarter outlook.

The company ended the quarter with $1.8 billion of liquidity, including $271 million in cash and $1.5 billion available under bank debt facilities. Its debt-to-EBITDA ratio was 2.4 times, near the middle of its targeted range of two to three times. Owens Corning said it intends to pay off $400 million of senior notes due in the third quarter using commercial paper.

For the full year, Owens Corning expects approximately $800 million of capital additions, with more than half allocated to productivity and growth programs. The company is building a new Fiberglas line in Kansas City that is expected to begin operating next year and initially serve commercial and industrial insulation applications. It is also constructing a roofing plant in Alabama, with capacity expected to be available by mid-2028.

Chambers said Jonathan Collins will join Owens Corning as chief financial officer on Aug. 10. Fister will transition to president and chief operating officer, leading enterprise initiatives intended to accelerate growth, improve performance and further integrate the company’s go-to-market strategy.

Roofing profitability remains strong despite inflation Roofing sales were about $1.3 billion, up slightly from a year earlier, supported by favorable product mix and demand for higher-value products. EBITDA declined $16 million to $441 million, while the segment’s EBITDA margin was 34%.

Fister said higher inflation, including transportation costs, created negative price-cost dynamics because pricing was relatively flat during the quarter. The company said it is seeing solid realization of price increases announced during the second quarter.

Owens Corning said its shingles and components volumes were slightly ahead of the broader market, aided by its contractor engagement model and demand for roofing systems and components. Those gains were partly offset by lower nonwovens volumes following the exit of a low-margin contract.

For the third quarter, the company expects roofing revenue to decline by a mid-to-high single-digit percentage from the prior year and an EBITDA margin of about 30%. Management expects asphalt roofing market shipments to decline by a high single-digit percentage, reflecting volume that was pulled into the second quarter ahead of price increases and heavier distributor inventory.

Chambers said distributor inventories are “a little heavier than normal,” though conditions vary by region. He said second-half roofing demand will be increasingly dependent on storm activity and regional trends. The company expects pricing gains to build through the third and fourth quarters, but said the timing of a return to price-cost neutrality depends on input, asphalt and transportation inflation.

Insulation growth led by non-residential and European markets Insulation revenue increased 4% to $971 million, driven primarily by higher volumes and a modest currency benefit. Segment EBITDA was $213 million, below the prior-year level due to slightly lower pricing and ongoing inflation, while the EBITDA margin was 22%.

The company cited strength in North American non-residential and European markets. North American residential revenue increased slightly as higher volumes offset the effects of earlier pricing actions. Fister said non-residential demand has benefited from pockets of strength including data centers, healthcare, interiors and U.S. reindustrialization activity.

In Europe, Owens Corning reported growth from commercial execution and improving core markets. Management said it believes Europe is positioned for stronger construction conditions over time after several years of below-average activity.

For the third quarter, the company expects insulation revenue to grow by a mid-single-digit percentage, with North American non-residential revenue up by a low-double-digit percentage. It expects the segment’s EBITDA margin to remain in line with the second quarter’s 22% level.

Owens Corning also plans to restart its smaller Nephi, Utah, insulation plant in the fourth quarter. Fister said the facility will help serve West Coast residential customers and support the company’s network during planned furnace rebuilds over the next two years. The Kansas City line is expected to provide additional network flexibility when it begins production.

Doors segment pursues margin expansion Doors revenue declined 7% to $513 million, primarily because of strategic divestitures. Owens Corning sold its distribution business in the first quarter, which had about $70 million in annual net revenue, and sold an Oregon components facility late last year that had about $50 million in annual sales. Together, those actions reduced second-quarter revenue by about $30 million.

Doors EBITDA was $57 million, down from the prior year because of lower volumes and higher transportation costs. The segment generated an 11% EBITDA margin, above the company’s guidance due to tariff refunds.

Management said it has achieved $135 million of run-rate enterprise cost synergies in doors, exceeding its original $125 million target by the end of the second year of ownership. Chambers also said Owens Corning has identified another $75 million of structural cost improvements across operations.

For the third quarter, Owens Corning expects doors revenue to decline by a mid-single-digit percentage, again largely reflecting divestitures, and anticipates an EBITDA margin of about 10%. The company expects cost optimization and expanded commercial activity to support longer-term margin improvement, although material and transportation inflation are expected to keep price-cost dynamics negative in the quarter.

At the enterprise level, Owens Corning expects third-quarter revenue of $2.6 billion to $2.7 billion, slightly below the prior-year period, and an adjusted EBITDA margin of approximately 20% to 22%.

About Owens Corning (NYSE:OC)Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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5 Small Cap Stocks With Explosive Upside PotentialOscar Health NYSE: OSCR reported record profitability for the first half of 2026 and raised its full-year operating outlook, citing membership growth, disciplined pricing, favorable utilization trends and lower administrative expense ratios.

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Chief Executive Officer Mark Bertolini said the company generated $1.1 billion in earnings from operations and $1 billion in net income during the first six months of the year. In the second quarter, revenue rose 70% year over year to $4.9 billion, while the medical loss ratio, or MLR, improved by nearly 12 percentage points to 79.2%.

Second-quarter earnings from operations totaled $389 million, compared with a loss in the prior-year period, while net income was $362 million. Adjusted EBITDA was $415 million. The company ended the quarter with 2.96 million effectuated members, up 46% from a year earlier, driven by above-market open enrollment growth and retention.

Guidance Raised Following First-Half Performance Chief Financial Officer Scott Blackley said Oscar raised its full-year 2026 earnings-from-operations forecast to between $500 million and $700 million, representing a $250 million increase from its prior outlook. The company maintained its revenue outlook of $18.7 billion to $19 billion.

Full-year MLR is now expected to be 81.5% to 82.5%, a 90-basis-point improvement at the midpoint from prior guidance. The SG&A expense ratio is expected to be 15.6% to 16.1%, an improvement of 20 basis points at the midpoint. Adjusted EBITDA is still expected to be roughly $115 million above earnings from operations. The company’s SG&A expense ratio reached a record low of 14.2% in the second quarter, improving 450 basis points year over year. Blackley attributed the improvement to expense discipline, fixed-cost leverage and technology and artificial intelligence initiatives that reduced variable costs, partly offsetting higher taxes and exchange fees.

Oscar expects its SG&A ratio to remain relatively stable in the third quarter before increasing in the fourth quarter, when it typically invests in preparation for the following year’s enrollment cycle.

Risk Adjustment and Utilization Trends Oscar received its final 2025 CMS risk-adjustment report during the quarter, which was approximately $160 million favorable to its first-quarter accruals and was fully recognized in the second quarter. The company also received an initial 2026 risk-adjustment report based on claims through April that showed market morbidity tracking favorably to pricing assumptions.

However, management said it recognized only a small portion of that favorability because the available claims data covered only four months. Risk adjustment represented about 20% of direct premiums during the first half, consistent with Oscar’s expectation for the full year.

Utilization through the first six months was moderately favorable to expectations. Inpatient, professional and pharmacy utilization were favorable, while outpatient utilization was elevated. Bertolini said the outpatient trends were stable and not concentrated in any particularly outsized category.

Management expects MLR to rise seasonally during the second half as members use more healthcare services after working through deductibles. The company said its membership has shifted across metal tiers, with some members moving from silver plans to bronze or gold offerings, but performance in those products has been consistent with or favorable to internal expectations.

Technology, AI and ICHRA Expansion Bertolini said Oscar is using AI across benefits, billing, claims, clinical care and member support. The company’s claims platform has a 98.7% first-pass accuracy rate and processes most claims in less than 48 hours, according to management.

During the quarter, Oscar piloted a radiology program using its Oswell agent, which uses members’ claims history and clinical interactions to recommend next steps and care sites based on coverage, cost, location and availability. Bertolini said one in four members selected Oswell’s recommended site of care, saving an average of $75 per appointment.

The company also said it is using AI and medical-economics programs to identify pharmacy and utilization outliers. Management expects these capabilities to generate tens of millions of dollars in annual savings.

Oscar highlighted growing interest in individual coverage health reimbursement arrangements, or ICHRA, particularly from small businesses in healthcare and professional services. Blackley discussed the company’s ICHRAx platform, built on an electronic data exchange acquired last year. He said the platform includes competing insurers and is intended to help employers move from defined-benefit coverage toward defined-contribution arrangements.

Membership Churn Expected to Increase Oscar expects membership churn to rise in the second half as CMS continues program-integrity and eligibility-verification efforts. Blackley said the company’s membership was essentially flat in the second quarter because lapses were lower than expected, with some anticipated disenrollments delayed into the latter half of the year.

Management now expects monthly churn to be closer to twice its prior estimate of 1% to 2%. Blackley characterized the change as primarily a timing issue and said it does not affect the company’s full-year revenue outlook. Oscar said it does not recognize revenue for members it expects to be disenrolled and has incorporated the effects of payment-integrity actions into its guidance.

Looking toward 2027, Bertolini said Oscar sees a rational pricing environment and believes the ACA market can remain stable or grow, absent major regulatory changes. The company plans to provide further details on its growth strategy at its Investor Day on Sept. 16.

About Oscar Health (NYSE:OSCR)Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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Medtronic (MDT +1.44%) and Intuitive Surgical (ISRG +1.36%), two medical device leaders, haven't performed well this year. While weakness in the broader healthcare sector hasn't helped, they have both encountered company-specific issues that have contributed to their lagging the market. The good news is that there are solid reasons to think they can bounce back, but which one should investors consider right now?

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What's going on with Medtronic? Medtronic has many qualities: A large medical device business with dozens of products across several therapeutic areas. The company has a deep footprint in the healthcare sector, a strong reputation, and it records consistent revenue and earnings. However, its most recent financial results have been mixed. In the fourth quarter of its fiscal year 2026, which ended on April 24, Medtronic's revenue increased by 9.9% to $9.8 billion. The company's adjusted earnings per share (EPS) were $1.55, a 4.3% decline due to higher costs from multiple sources, including tariffs.

Worse, the company's guidance for the next fiscal year fell short of analysts' expectations, sending the stock lower following its earnings release. Still, there are several things to be excited about. Medtronic posted its highest annual revenue growth in a decade during its last fiscal year.

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It has addressed some of the top-line growth concerns investors had, partly thanks to its Pulse Field Ablation franchise. Further, the company launched new products that should eventually contribute to sales growth. Last year, Medtronic announced that the U.S. Food and Drug Administration had cleared its Hugo robotic-assisted surgery (RAS) system for urologic procedures, putting it in direct competition with Intuitive Surgical.

The RAS market is underpenetrated, and as Medtronic earns more indications for the Hugo system, it should eventually meaningfully impact its financial results. We could also see improved margins once it completes the spin-off of its lower-margin diabetes care division. Lastly, Medtronic is a phenomenal dividend stock, offering a forward yield of 3.4% and having increased its payouts for 49 consecutive years. It is a great pick for income-seeking investors.

Can Intuitive Surgical overcome its challenges? Intuitive Surgical is dealing with tariffs, increased competition from Medtronic and Johnson & Johnson (JNJ +0.88%), and lower margins associated with its latest launch, the da Vinci 5 surgical system. The company's financial results look strong regardless. In the second quarter, Intuitive Surgical's revenue increased by 19% year over year to $2.89 billion, while its adjusted EPS came in at $2.80, 28% higher than the year-ago period. But many investors are wondering whether they should pay a premium for a company with growing challenges, including competition.

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Intuitive Surgical trades at 34.1x forward earnings, well above the 18.5x average for healthcare stocks. Still, there are reasons to be optimistic. Intuitive Surgical's da Vinci 5 will continue to earn additional indications. Given its greater computing power than previous versions, and built-in architecture for data analytics and AI-powered features, this new machine may significantly expand the RAS market.

It is already boosting Intuitive Surgical's installed base. The more devices it places, the more recurring revenue the company generates from instruments and accessories. The da Vinci 5's innovative features can also help Intuitive Surgical stay ahead of the competition, and that's before we mention the company's massive lead in this area. It launched its first RAS device more than 25 years ago and has built a reputation ever since. All of those factors put Intuitive Surgical in a strong position to capitalize on the growing RAS industry.

Medtronic is trading at 14.3x forward earnings. Its lower multiple makes sense, considering Intuitive Surgical typically grows its revenue and earnings faster. The market is valuing these two differently because they are different. One is a mature, consistent business with fairly low revenue and earnings growth, while the other is arguably still in the growth stage. Also, one pays a dividend -- and boasts an impressive streak of consecutive payout growth -- and the other one doesn't.

In other words, these two stocks will appeal to investors with different goals. Those looking for reliable income payers should opt for Medtronic. The company will be the less volatile of the two moving forward and could help stabilize a well-diversified portfolio during challenging times. Growth-oriented investors might want to pick Intuitive Surgical. They should expect bigger price swings, but Intuitive will likely deliver stronger returns over the long run.

Steven E. Creviston, the SVP of connectivity and sensors at Qorvo, Inc. (QRVO +3.93%), disposed of 3,949 shares on August 5, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$375,313Shares sold3,949Post-transaction shares (directly held)124,261Post-transaction value$11.84 millionTransaction value based on SEC Form 4 weighted average sale price ($95.04); post-transaction value based on the August 5 market close ($95.25).

Key questionsWhat was the nature of this transaction?
The disposal of 3,949 shares was a non-discretionary transaction executed to satisfy tax withholding obligations associated with the vesting of equity awards. This type of automated disposal is part of standard executive compensation management and does not reflect a discretionary investment decision by the insider.What is the remaining equity exposure?
Creviston retains a direct position of 124,261 shares in the company. Following this 3% reduction in his direct holdings, he maintains a beneficial ownership stake of approximately 0.1% of the semiconductor firm, representing a total post-transaction value of $11.84 million as of the August 5 market close.What is the current market context for the company?
Qorvo reported trailing 12-month revenue of $3.6 billion and net income of $399.2 million. As of the August 5 transaction date, the stock has delivered a 12% return over the preceding year, with a total market capitalization of $8.4 billion.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$95.33Market Capitalization$8.4 billionRevenue (TTM)$3.6 billionNet Income (TTM)$399.2 millionCompany SnapshotQorvo designs and manufactures radio frequency, analog, and power semiconductor components for wireless, wired, and power applications across consumer electronics, infrastructure, and defense markets.The company operates through two primary business segments—Mobile Products and Infrastructure and Defense Products—generating revenue through the supply of critical semiconductor components to original equipment manufacturers and system integrators.Qorvo serves a diverse customer base, including smartphone manufacturers, telecommunications infrastructure providers, automotive suppliers, and defense contractors, with significant exposure to 5G deployment and mobile device proliferation globally.Qorvo is a global semiconductor specialist headquartered in Greensboro, North Carolina, with approximately 5,000 employees and an $8.4 billion market capitalization. The company maintains a diversified revenue base across consumer mobile devices and infrastructure markets, generating $3.6 billion in TTM revenue with net income of $399.2 million, reflecting its position as a critical supplier of RF and analog components in the semiconductor value chain. Qorvo's competitive advantage derives from its integrated design and manufacturing capabilities, extensive intellectual property portfolio, and established relationships with leading OEMs in high-growth wireless and defense sectors.

What this transaction means for investorsWhat Creviston's remaining shares end up worth has almost nothing to do with Qorvo's own results anymore because the company is being bought by Skyworks Solutions, and its holders are slated to receive a fixed mix of cash and acquirer stock for each share they own. That makes the tax withholding that trimmed his position this week, one of seven near-identical filings by Qorvo insiders on the same vesting date, essentially a formality.

As for the deal, the terms convert each Qorvo share into $32.50 in cash plus 0.96 of a Skyworks share, so part of the payout floats with how Skyworks trades. Meanwhile, Qorvo's fiscal fourth-quarter results showed revenue down 7% to $808 million, with non-GAAP earnings of $1.69 a share, beating the $1.21 expected.

Also important for investors, Skyworks CEO Phil Brace has said he is optimistic the companies can "close within the calendar year." Initially and formally slated to close by early 2027, the deal now looks like it could close sooner, and that timeline is the thing Qorvo holders should actually be tracking.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Qorvo. The Motley Fool has a disclosure policy.

EVs Are Big Winners of the Iran War—Just Not American OnesNiSource NYSE: NI reported second-quarter 2026 adjusted earnings of $0.16 per share, compared with $0.22 per share a year earlier, while reaffirming its full-year earnings outlook and long-term growth targets. Year-to-date adjusted earnings rose to $1.22 per share, up $0.03 from the same period in 2025.

President and Chief Executive Officer Lloyd Yates said the company remains on track to meet its 2026 commitments, supported by regulatory progress, infrastructure investment and its strategy to serve large data-center customers. NiSource operates regulated gas and electric utilities across six states.

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AI’s Biggest Bottleneck Could Make These 2 Stocks Soar“With strong visibility into second-half performance, we remain firmly on track to deliver on our full-year commitments,” Yates said.

Second-Quarter Results and Full-Year Outlook Chief Financial Officer Shawn Anderson said higher revenue from new rates and recovery mechanisms, including rate implementation at NIPSCO Electric and Columbia Gas operations in Ohio and Pennsylvania, supported results. Those benefits were offset by increased operations and maintenance expense associated with unusually active storm activity and expenses intended to maintain workforce continuity during ongoing union negotiations.

Why This Midwest Utility Is the Hottest Stock on Wall Street Right NowNiSource said 2026 has included a record number of tornadoes, which contributed to outages and other system impacts across its service territory. The company said its field, operations and customer-care teams responded to assess damage, restore service and support affected communities.

The company expects earnings growth to be more heavily weighted toward the second half of 2026. Anderson cited approved recovery mechanisms, new regulatory activity in Virginia and Ohio, and Alphabet-related energization activity expected during the second half.

NiSource reaffirmed its 2026 adjusted EPS guidance of $2.02 to $2.07. It also reaffirmed its base-plan adjusted EPS growth target of 6% to 8% annually through 2030, as well as a consolidated adjusted EPS compound annual growth rate of 9% to 10% from 2026 through 2033.

The company said it has identified more than $40 million in cost-optimization initiatives, including process improvements and technology-enabled efficiencies. NiSource expects many of these efforts to improve its cost structure beyond 2026 while benefiting customer rate structures.

Data Center Agreements and Customer Savings NiSource highlighted its data-center strategy as a source of growth and customer bill relief. The company said its agreements with Amazon and Alphabet are expected to provide approximately $1.4 billion in bill reductions for existing NIPSCO electric customers over the terms of the contracts.

According to the company, the savings could equal up to $124 annually for an average residential customer, or roughly one month of an electric bill. NiSource expects those benefits to begin reaching customers as early as the fourth quarter of 2026.

The Indiana Utility Regulatory Commission approved the original Amazon special contract, the related power purchase agreement and supporting generation resource in June. NiSource subsequently filed for approval of amendments to Amazon’s agreement that would increase contracted load by 400 megawatts. The company is seeking a final order by November.

NiSource also received IURC approval of its Alphabet agreement in July. The company said it is prepared to energize that project this summer, with load expected to ramp to full capacity by 2030.

Yates said NiSource has signed agreements representing 4 gigawatts of load, has 3 GW in active strategic negotiations and sees approximately 2 GW of additional potential customers. The company is also reviewing ways to expand its opportunity set beyond its current 9 GW pipeline.

Michael Luhrs, executive vice president of technology, customer and chief commercial officer, said the company’s work to assess potential expansion reflects planning around factors including land, zoning, transmission, fuel supply and equipment. He said investors should not interpret that effort as a sign of constraints on the existing 9 GW pipeline.

Indiana Regulatory Developments Management addressed a recent IURC order related to NIPSCO’s gas modernization investments. Yates said the company was still evaluating the order, but he said it did not alter NiSource’s view that Indiana remains a constructive regulatory environment.

The commission recognized the need for continued investment, according to Yates, while indicating that the company should more clearly demonstrate the specific benefits of individual projects. NiSource said it could seek recovery through other tracker mechanisms, the FMCA mechanism, or future base-rate proceedings.

Anderson said the company was not reporting any change to its capital-expenditure plan or earnings outlook. Management said the order does not change its rate-case timing.

NiSource also plans to participate in an Indiana affordability technical conference scheduled for Aug. 7. Yates said he expects the discussions to be collaborative and balanced, with attention to bill transparency, multi-year rate planning, return on equity and the risks associated with those frameworks.

The company said savings tied to data-center agreements will flow to customers once projects receive appropriate approvals and are energized, rather than waiting for a future rate case.

Capital Plan and Financing NiSource’s five-year capital investment outlook was unchanged. The plan includes $21 billion in base-business investment, up to $2 billion of additional upside opportunities and $7.6 billion of GenCo capital investment supporting data-center customers.

$21 billion of base-business investment across gas and electric operations. Up to $2 billion of potential upside investment, primarily related to generation, gas advanced metering infrastructure, system modernization, economic development and electric transmission and distribution. $7.6 billion of GenCo capital investment associated with serving data-center customers. The company said possible investments outside its current base and upside plans include electric generation needed for MISO resource requirements, gas and electric transmission, grid resiliency work, PHMSA compliance and advanced metering infrastructure.

NiSource expects to begin reporting GenCo segment information by the end of the fiscal year. Its financing plan targets funds from operations to debt of 14% to 16% annually, supported by operating cash flow, long-term debt, annual equity issuance of roughly $400 million to $600 million, and minority-interest contributions.

Yates said the company continues to view economic development, including data centers, onshoring and manufacturing investment, as important to improving affordability while supporting infrastructure investment and long-term customer demand.

About NiSource (NYSE:NI)NiSource, Inc NYSE: NI is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company's core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.

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3 Stocks Standing Out and 2 Losing Momentum as the Tech Rally CracksMurphy Oil NYSE: MUR highlighted a new discovery offshore Côte d’Ivoire, revised its 2026 capital program upward and outlined plans to accelerate activity in the Eagle Ford during its second-quarter 2026 earnings call.

President and CEO Eric Hambly said the company’s most significant development during the quarter was the Bubale discovery, where the discovery well encountered oil in both the Turonian and Cenomanian reservoirs. Murphy entered Côte d’Ivoire with a three-well exploration strategy, and the first two wells were non-commercial, Hambly said.

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Savvy Investors' Rate Cut Portfolio: Bonds, Small Caps, Energy“While Bubale has the potential to become a significant growth driver for Murphy, there is still important appraisal work ahead,” Hambly said. The company spudded the Bubale West 1X appraisal well in July, targeting the Turonian reservoir. The well is the first in a potential program of up to five appraisal wells over the next 18 to 24 months.

Bubale Appraisal to Proceed in Stages Hambly said the Bubale West 1X well is designed to test reservoir continuity, thickness and quality down dip from the discovery well, while also seeking to establish a deeper oil level. A successful result would provide Murphy with greater confidence that the discovery supports a commercial development, although the total resource range would remain uncertain.

3 Small-Cap Stocks in the Russell 2000 Set to RallyMurphy estimates the appraisal well will cost about $90 million, up from its prior $65 million dry-hole cost estimate for the discovery well. Hambly said drilling through a shallow Turonian section was slower than expected, and the company incorporated that learning into its estimate for the appraisal well. If hydrocarbons are encountered, formation evaluation, logging, core and fluid-sampling work could raise the final well cost above $90 million.

The company said future appraisal activity will be data-driven. Depending on results from Bubale West 1X, Murphy could pursue a broader appraisal campaign, a limited program or no additional appraisal wells next year. Hambly said Murphy controls the pace of spending because it operates its positions in Côte d’Ivoire and Vietnam.

Vietnam Resource Estimate Reduced, Development Planning Continues Murphy also addressed results from the Hai Su Vang 4X appraisal well in Vietnam, which was a dry hole. The company reduced its resource estimate after the result, with Hambly saying the well found the targeted interval but encountered low reservoir quality and no net pay.

Despite the revision, Murphy continues to view Hai Su Vang as a material opportunity of 200 million to 300 million barrels of oil equivalent, which Hambly described as roughly two to three times the size of the Lac Da Vang project. The company maintained its Vietnam peak-production outlook of 30,000 to 50,000 barrels of oil equivalent per day, though Hambly said current information points toward the lower end of that range unless further tieback opportunities are identified.

Murphy is evaluating development concepts for Hai Su Vang, including a floating production, storage and offloading vessel or a processing platform linked to wellhead platforms and a floating storage and offloading unit, similar to Lac Da Vang. The company is targeting a final investment decision in the fourth quarter of 2027 after completing development planning and obtaining required partner approvals.

Lac Da Vang remains on schedule for first oil in the fourth quarter, according to Hambly, with pipeline, topsides and floating storage milestones completed. Murphy expects net production from the project to reach approximately 5,000 to 9,000 barrels per day by the end of 2027, eventually rising to 10,000 to 15,000 barrels per day as development drilling continues through 2028 and 2029.

In addition, Murphy is drilling the Lac Da Trang North 1X exploration well in Vietnam. Hambly said the prospect has a pre-drill resource range of 40 million to 80 million barrels and could be developed as a tieback if successful. He said the company expects to focus near-term Vietnamese exploration on Block 15-1/05, while activity in Block 15-2/17 may occur in 2028 or 2029 rather than 2027.

Capital Program Raised as Eagle Ford Activity Accelerates Murphy raised the midpoint of its 2026 capital expenditure estimate to $1.55 billion from $1.25 billion. The increase includes roughly $190 million associated with Bubale, consisting of $100 million of incremental spending on the discovery well and $90 million for the first appraisal well.

The company also plans to direct an additional $70 million to the Eagle Ford, an investment expected to add about 5,000 to 6,000 barrels of oil equivalent per day in 2027. Murphy plans to restart Eagle Ford drilling in October rather than January, drilling one pad in Karnes and another in Catarina. The company expects to begin completing the Catarina pad near year-end and bring wells online early in 2027.

Hambly said Eagle Ford investment is intended to generate additional free cash flow to support the company’s offshore growth opportunities, rather than to respond to near-term oil prices. He said Murphy has seen improving well performance and strong free cash flow from the asset over recent years. The company’s Eagle Ford program is primarily focused on lower and upper Eagle Ford locations, with Austin Chalk wells included only selectively in portions of its Karnes acreage.

Murphy did not provide a formal 2027 capital budget. Hambly said spending next year will likely exceed $1.25 billion and could move toward the high end of, or slightly above, the company’s historical $1.2 billion to $1.3 billion capital range before considering potentially additive Bubale appraisal spending.

Production, Cash Flow and Balance Sheet Second-quarter production averaged 169,000 barrels of oil equivalent per day, above the midpoint of Murphy’s guidance. Performance was led by Tupper Montney and continued outperformance in the Eagle Ford, Hambly said.

The company generated $110 million of free cash flow during the quarter, paid $50 million in dividends and ended the period with leverage below 1x and approximately $2.5 billion of liquidity. Murphy expects to generate positive free cash flow for the full year at current commodity prices, even with the revised capital program.

Hambly said the company’s capital-allocation priorities remain unchanged: invest in assets to maintain or grow scale, pay its dividend, protect the balance sheet and repurchase shares when management believes the stock trades materially below intrinsic value. He said Murphy may have periods of modest or negative companywide free cash flow before first oil from Hai Su Vang or potentially Bubale, but added that the company is prepared to use liquidity when necessary while maintaining a strong balance-sheet position.

Looking beyond its current programs, Murphy expects to explore one or two wells in the Gulf of Mexico next year and continue activity in Vietnam. The company said its recently added positions in Morocco, Cameroon and Mauritania are at earlier stages, with near-term work expected to center on studies and seismic reprocessing rather than drilling.

About Murphy Oil (NYSE:MUR)Murphy Oil Corporation is an independent upstream oil and gas company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company's operations encompass conventional onshore and offshore reservoirs, with an emphasis on liquids-rich properties and deepwater assets. Through a combination of proprietary technologies and strategic joint ventures, Murphy Oil seeks to optimize recovery rates and manage its portfolio to balance long-term resource development with operational flexibility.

Murphy Oil's exploration and production activities are geographically diversified.

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The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.

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Keenan Michael Conder, the chief legal officer of SentinelOne, Inc. (S +3.08%), sold 26,374 shares on August 6, for a total value of about $530,000, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$530,000Shares sold26,374Post-transaction shares (directly held)956,358Post-transaction value$19.85 millionTransaction value based on SEC Form 4 weighted average sale price ($20.08); post-transaction value based on the August 6 market close ($20.76).

Key questionsWhat was the primary driver of this insider sale?
The transaction was a non-discretionary sell-to-cover event, meaning the shares were sold automatically to fund tax obligations triggered by the vesting of restricted stock units. This pre-arranged mechanism is standard for equity compensation and does not reflect the insider's individual sentiment regarding the company's valuation or future performance.What is the insider's remaining exposure to the company?
Conder continues to hold a significant direct interest of 956,358 shares, representing approximately 0.3% of the company. A portion of these remaining shares remains subject to forfeiture conditions if specific vesting requirements are not met, maintaining the insider's alignment with long-term equity performance.How has the stock performed leading up to this transaction?
As of the August 6 transaction date, the company delivered a one-year total return of 20%. During this period, the firm maintained a market capitalization of $7.2 billion, supported by trailing twelve-month revenue of $1.0 billion, although it recorded a net loss of $318.7 million over the same timeframe.What is the broader business context for this equity activity?
The firm operates as a global cybersecurity company focused on its Singularity XDR Platform, which utilizes artificial intelligence to unify endpoint protection and cloud workload security. The recent vesting and subsequent tax-related sale occurred as the company continues to scale its presence in the infrastructure software industry from its headquarters in Mountain View.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$20.76Market Capitalization$7.2 billionRevenue (TTM)$1.0 billionNet Income (TTM)-$318.7 millionCompany SnapshotSentinelOne provides comprehensive cybersecurity solutions centered on its Singularity XDR Platform, an Extended Detection and Response data stack that integrates endpoint protection, endpoint detection and response, cloud workload protection, and IoT security capabilities powered by artificial intelligence.The company operates a subscription-based software-as-a-service business model, generating recurring revenue from enterprise and mid-market customers who license access to its unified security platform on an annual or multi-year basis.SentinelOne primarily serves large enterprises and mid-market organizations across the United States and internationally that require integrated, AI-driven security solutions to protect their endpoint, cloud, and IoT infrastructure from advanced cyber threats.SentinelOne is a global cybersecurity infrastructure software company with approximately 3,000 employees headquartered in Mountain View, California. The company has achieved $1.0 billion in TTM revenue while building a unified security platform that consolidates multiple protective functions into a single AI-powered system, differentiating itself in the competitive extended detection and response market. With a market capitalization of $7.2 billion and year-over-year share price appreciation of 19.93%, SentinelOne demonstrates investor confidence in its platform consolidation strategy and market expansion potential.

What this transaction means for investorsBuried in this filing is the useful part, that a chunk of Conder's remaining shares can still be clawed back if vesting targets go unmet, which is the opposite of an executive heading for the door. What he actually sold here was never a choice, just stock withheld to cover taxes at a price set below the day's close, and he is not the only SentinelOne executive this week to file this identical kind of sale on the same vesting date. He kept more than 956,000 shares.

The company reports again at the end of this month, and last quarter set the bar high, with revenue up 21% to $277 million and annual recurring revenue up 23% to $1.16 billion, nearly half of it now from products beyond the original endpoint business. CFO Sonalee Parekh cited "the operating leverage inherent within our business model" as the company scales.

That report is where attention belongs, since it will show whether the growth held and whether last quarter's 8% workforce cut is translating into the margin improvement management promised. Routine vesting sales tell you none of that.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Oil’s Outlook Looks Ugly—That’s Why These 3 Energy Plays MatterMach Natural Resources NYSE: MNR reported second-quarter production of 149,000 barrels of oil equivalent per day and generated $154 million in operating cash flow, while maintaining its stated focus on limiting reinvestment to less than 50% of operating cash flow on a year-to-date basis.

The company declared a quarterly distribution of $0.36 per unit after generating $60 million in cash available for distribution. The payment is scheduled for Aug. 31 to unitholders of record as of Aug. 17.

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Top Dividend Plays With Strong Analyst RatingsChief Executive Officer Tom Ward said the company’s strategy remains centered on disciplined asset purchases, restrained capital spending, financial strength and maximizing cash distributions. He said Mach intends to bring leverage back to its goal of roughly one times debt to EBITDA by the end of 2027, compared with its projection of 1.4 times at the end of 2026.

Second-quarter financial and operating results For the quarter, Mach’s production mix was 15% oil, 69% natural gas and 16% natural gas liquids. Average realized prices were $95.40 per barrel for oil, $1.93 per Mcf for natural gas and $28.99 per barrel for NGLs, according to Chief Financial Officer Kevin White.

Oil and gas revenue totaled $360 million, with oil accounting for 54% of the total, natural gas contributing 30%, and NGLs representing 16%. Including hedges and midstream activities, total revenue was $406 million.

Adjusted EBITDA was $182 million. Operating cash flow was $154 million. Development capital expenditures were $97 million, or 63% of operating cash flow during the quarter. Lease operating expense was $98 million, or $7.21 per BOE. Cash general and administrative expense was about $7 million, or $0.54 per BOE. The company ended the quarter with $41 million in cash and $270 million of availability under its credit facility. While quarterly development spending exceeded Mach’s 50% operating-cash-flow target, White said year-to-date capital spending was “right on top of 50%” of operating cash flow. Management expects to finish the year near that reinvestment level, though results may vary by quarter.

Capital allocation and leverage priorities Ward said Mach’s capital spending will remain tied to operating cash flow rather than a fixed development plan. The company’s variable distribution model allows it to reduce or increase spending as commodity prices and project returns change, he said.

Mach expects to use several options to reduce leverage, including accretive acquisitions funded with equity, its $100 million at-the-market equity program, and potentially retaining a portion of distributions to pay down debt. Ward said cutting distributions could be an option if needed, but he also said the company would prefer to make an acquisition using equity if suitable opportunities emerge.

Ward said the company is reluctant to pursue asset sales or acreage divestitures as a deleveraging tool. He noted that acreage previously viewed as non-core has at times developed into productive areas, and selling producing properties would reduce cash flow.

“Selling away your assets, to me, is not as efficient as if we were to cut a distribution,” Ward said.

Drilling shifts toward oil-weighted opportunities Mach has shifted its near-term drilling emphasis toward crude-heavy projects following the start of the conflict in Iran, Ward said. The company is completing its final two Mancos Shale wells this year but has delayed their completion phase until 2027 to stay within its internally mandated capital spending limit.

The company currently has three rigs operating in Oklahoma, targeting the Oswego, Red Fork and Ardmore Basin Sycamore formations. Ardmore Basin locations are expected to be completed by the end of the third quarter. Mach plans to defer further Red Fork drilling until the first quarter of 2027 while retaining one Oswego rig during the fourth quarter of 2026.

Ward described the Oswego Limestone in Kingfisher County, Oklahoma, as the company’s principal drilling workhorse. Mach has drilled more than 250 wells in the area since 2021 and estimates an 87% rate of return at a $75 oil strip price. The company expects to spend about $3.3 million to drill and complete Oswego wells targeting approximately 160,000 barrels of oil.

The company also discussed a smaller Clear Fork opportunity, which is not currently included in its drilling schedule. Ward said the program consists of roughly seven or eight potential horizontal wells within a waterflood, with an estimated 53% rate of return at the end of July. He said the project ranks below the Oswego on returns and could enter the 2027 program depending on prices and available cash flow.

Mancos opportunity depends on gas market conditions Mach holds 575,000 acres in the San Juan Basin and sees the Mancos Shale as a potentially significant long-term natural gas growth opportunity. Ward said Mach is the second-largest natural gas producer and acreage holder in the play behind Hilcorp, with three other sizable owners.

The company has a gas marketing agreement through 2030 and said it can hold approximately 350 million cubic feet per day of gas production flat by drilling five net wells annually. Drilling 10 net wells per year could increase Mach’s net gas production to more than 500 MMcf per day, according to Ward.

However, the company’s near-term activity in the Mancos will depend on natural gas prices, regional basis conditions and competition with oil-focused drilling opportunities. Ward said Mach would be unlikely to pursue a gas capital program if prices remain below $3 per Mcf, though management remains constructive on long-term gas demand.

Mach expects its 2027 program to prioritize oil activity in the first half, with potential Mancos completions beginning in late spring or summer if gas prices improve. Ward said the company has not finalized its 2027 capital plan.

The company also said it is working to lower Mancos well costs. Ward said historical costs for three-mile lateral wells were nearly $20 million, while the current program is expected to be closer to $13 million per completed well. Vice President of Production Operations Rick Hughes attributed the reduction in part to improved drilling performance, fewer drilling days, lower completion costs and new vendors.

Ward said Mach’s overall 2027 production outlook is expected to be “basically keeping it flat,” reflecting the company’s commitment to keep capital spending below 50% of operating cash flow.

About Mach Natural Resources (NYSE:MNR)Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.

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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.

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3 Healthcare Stocks With Fresh Dividend Hikes and Different Income ProfilesMcKesson NYSE: MCK reported fiscal first-quarter 2027 results that exceeded its expectations, citing broad-based momentum across its operating businesses and prompting the healthcare services company to raise its full-year adjusted earnings outlook.

Revenue rose 8% to $105.4 billion, while adjusted diluted earnings per share increased 20% to $9.93. Chair and CEO Brian Tyler said three reporting segments posted double-digit operating-profit growth, supported by stable utilization, volume growth and the company’s portfolio of healthcare distribution, specialty and technology services.

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MarketBeat Week in Review – 07/27- 07/31“Our first quarter performance reflects the continued momentum across the enterprise and reinforces our confidence in our strategy and the durability of our operating model,” Tyler said.

Guidance raised as North American Pharmaceutical leads growth McKesson raised its fiscal 2027 adjusted EPS outlook to a range of $44.20 to $45.00, from prior guidance of $43.80 to $44.60. The revised outlook implies adjusted EPS growth of 13% to 15%, excluding the impact of the Norway divestiture and a fiscal 2026 gain tied to the sale of an equity investment within The US Oncology Network.

McKesson's Compounding Keeps Adding UpThe company expects fiscal-year revenue growth of 5% to 9% and operating-profit growth of 9% to 13%.

North American Pharmaceutical revenue increased 5% to $86.8 billion. The segment’s operating profit rose 19% to $894 million, driven by specialty distribution growth, including health systems and strategic accounts, as well as the timing of new product launches.

Chief Financial Officer Kenny Cheung said higher prescription volumes and specialty-product volumes supported revenue growth, partly offset by lower branded-drug pricing following wholesale acquisition cost reductions in January 2026 and branded-to-generic conversions. Cheung said branded pricing declines did not have a meaningful effect on operating profit because more than 95% of McKesson’s branded-drug business is fee-for-service.

GLP-1 medication distribution revenue totaled $15 billion during the quarter, up approximately $3 billion, or 24%, from the prior year. Revenue from GLP-1 products rose 13% sequentially. Tyler said the company continues to see growth in both the cash-pay and covered segments of the GLP-1 market.

For the full year, McKesson expects North American Pharmaceutical revenue growth of 4% to 8% and operating-profit growth at the high end of its previous 5.5% to 9.5% range. The company said its forecast includes accelerated investments during the second half of fiscal 2027, focused on growth and artificial intelligence, with returns expected to begin in fiscal 2028.

Oncology and technology businesses post double-digit profit gains Oncology & Multispecialty revenue rose 33% to $14.2 billion, while operating profit climbed 41% to $405 million. Excluding contributions from the Core Ventures acquisition, completed in June 2025, segment revenue grew approximately 24% and operating profit increased about 15%.

Cheung attributed the results to expansion within existing provider solutions and specialty distribution, new business wins and the Core Ventures contribution. Tyler said Florida Cancer Specialists, which McKesson acquired through Core Ventures, has performed at the high end of the guidance range provided at the time of the acquisition.

The U.S. Oncology Network expanded to approximately 3,400 providers and treats more than 2 million patients annually, according to Tyler. McKesson also said PRISM Vision includes more than 200 providers across 97 locations. Its Sarah Cannon Research Institute joint venture participated in research contributing to 43 of the 52 adult oncology drugs approved by the FDA in 2025, the company said.

Prescription Technology Solutions revenue increased 9% to $1.6 billion, and operating profit rose 13% to $303 million. Results reflected higher prescription volumes in third-party logistics and access solutions, including prior authorization services. McKesson said it began supporting the CMS Medicare GLP-1 Bridge program in July, providing infrastructure for eligibility determination, electronic prior authorizations and pharmacy claims transactions.

The company said that once a prior authorization request is submitted to a payer, 95% receive a determination within 30 minutes.

Medical-Surgical separation advances under Wellverse brand McKesson continued preparations to separate its Medical-Surgical Solutions business. Tyler said the unit will operate under the name Wellverse, with a phased transition expected to begin in January 2027.

During the quarter, McKesson completed Apollo Funds’ previously announced minority investment in the business. Apollo now holds approximately 13% of Medical-Surgical Solutions, while McKesson retains majority ownership and continues to consolidate the unit’s results.

The company also completed a $2.25 billion senior secured Term Loan B, following a $1 billion secured Term Loan A, and established a $1 billion revolving credit facility that remained undrawn during the quarter. Cheung said these financing arrangements support the business’s separation.

Medical-Surgical Solutions revenue increased 4% to $2.8 billion, aided by alternate-site-of-care growth and higher specialty pharmaceutical volumes. Operating profit declined 20% to $195 million due to product mix and a one-time administrative expense, partly offset by extended-care channel contributions.

Capital returns and policy considerations McKesson ended the quarter with $5.2 billion in cash and cash equivalents and approximately $10 billion in total liquidity. Free cash flow was negative $372 million, including $152 million in capital expenditures, although trailing 12-month free cash flow totaled approximately $6.1 billion.

The company repurchased $2.5 billion of shares during the quarter, including $2.25 billion through an accelerated share repurchase program at an initial average price of about $755 per share. It returned $2.6 billion to shareholders through repurchases and dividends. In July, the board approved a 15% increase in the quarterly dividend, representing McKesson’s 10th consecutive annual increase.

Management expects approximately $4.5 billion to $4.9 billion in free cash flow and roughly $5 billion in share repurchases for fiscal 2027.

Tyler said McKesson is monitoring healthcare policy developments, including potential reforms to the 340B drug-pricing program and the Inflation Reduction Act’s Part B provisions. He said it would be premature to estimate financial effects from 340B proposals still under review, while noting the Part B program is not scheduled to take effect until January 2028.

About McKesson (NYSE:MCK)McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

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Progressive (PGR -0.01%) is an insurance company, so its revenue comes from two primary sources. The first is profitably selling insurance. The second is the income the company generates from managing the float. Right now, it looks like there's a trade-off being made after a period of very strong results. Here's what you need to know.

Progressive wants to keep growing As an insurance company, Progressive collects premiums up front and pays out claims later. In between, it gets to invest the cash, which is known as the float, to generate income. This is a powerful business model, with the company's investment portfolio valued at over $97 billion as of the end of the second quarter of 2026. That portfolio generated $979 million in revenues for Progressive in the quarter.

Image source: Getty Images.

So there's a very good reason why Progressive wants to keep growing its insurance portfolio. However, it has to write profitable policies, or more growth may not be a good thing. This is where the combined ratio comes in. A number below 100 indicates the company's policies are profitable. Occasionally, major events will push the combined ratio higher, but overall, investors want to see a number below 100. In the second quarter, Progressive's combined ratio was 87.3.

Progressive is making a trade-off The problem is that in the second quarter of 2025, the combined ratio was 86.2. So the ratio is going in the wrong direction. In fact, in June, the ratio was up to 90. As noted, the combined ratio can vary slightly from period to period. However, that drop has to be taken in context.

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In the first half of 2025, net premiums written increased 15%. In the first half of 2026, growth was down to 6%. It looks like the company may be taking on less attractive business to continue growing, which increases its ability to benefit from the float. To be fair, the company has been operating at a very high level over the last couple of years. So the current shift in the combined ratio isn't terrible; it is likely just an informed decision by management to support long-term growth amid increased competition.

Progressive's combined ratio target is 96 All in, Progressive is still performing quite well as a business. So there's no particular reason to worry. That said, the company's combined ratio target is 96 or below. So the trade-off between quality and growth starts to get really strained the closer the company gets to that level. If you own Progressive, keep that target in mind, but you probably don't need to be overly concerned about the combined ratio today.

Matador’s Results Were Better Than Feared, But 2026 Headwinds Still MatterMatador Resources NYSE: MTDR reported near-record adjusted free cash flow of $303 million for the second quarter of 2026 and said it used $200 million to reduce borrowings associated with its federal lease acquisition, according to management’s earnings call.

Chairman, Founder and CEO Joe Foran said the company’s acquisition-related bank debt had fallen to less than $1 billion from $1.25 billion. Matador expects it could generate approximately $900 million in free cash flow for the full year and intends to continue prioritizing debt reduction.

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3 Mid-Cap Energy Firms Analysts See Moving Up to the Big Leagues“We’ve exceeded the high end of our production guidance,” Foran said, adding that reserves increased 5% during the quarter to 703 million barrels of oil equivalent from 667 million barrels of oil equivalent.

The company raised its outlook for year-over-year oil production growth to a range of 4% to 7%, which Foran said is being pursued with 1% less capital spending. He reiterated Matador’s strategy of pursuing “profitable growth at a measured pace” while maintaining a focus on balance-sheet management.

Acquisitions and federal leases underpin growth outlook 5 Highly Rated Dividends With 50% Upside According to AnalystsManagement highlighted the integration of the Cardinal acquisition, federal lease purchases, and the Paloma and Ridge Runner transactions as strategic catalysts for future development. Foran said Matador made offers to 26 Cardinal field employees and that all accepted.

Foran also said the company used midstream funds to acquire Cardinal’s midstream assets, while Matador’s E&P business funded acquisitions intended for its upstream portfolio.

The federal lease purchases extended Matador’s inventory life to more than 15 years, according to Foran. He said the acreage includes nine different producing zones and is located near the company’s existing midstream infrastructure, potentially supporting development and gas transportation economics.

Tom Elsener, executive vice president of reservoir engineering and senior asset manager, said the company expects the recently acquired properties to generate rates of return above 80%. He attributed those expectations to high-quality reservoir rock, estimated oil recoveries that are 15% to 20% higher than on other properties, multiple productive benches, longer laterals and lower projected well costs.

Elsener said Matador expects well costs on the acreage to decline into the $600-per-foot range. He also cited the federal leases’ one-eighth royalty rate and potential midstream synergies, which were not included in the cited 80% return estimate.

Development activity could begin this year Bryan Erman, co-president, chief legal officer and head of M&A, said Matador had evaluated the federal acreage for months before the lease sale and began permit-related work immediately after acquiring it. The company could begin operations on the leases as early as late 2026 or in early 2027, he said.

Mac Schmitz, senior vice president of investor relations, added that Matador has 12 operated wells near the federal acreage that are being completed and are expected to begin production in the third quarter. The company also increased planned midstream spending to expand San Mateo and Matador infrastructure toward the federal properties, signaling potential drilling activity near the acquired acreage this year.

Foran said the company expects the acquisitions and federal lease positions to support a strong finish to 2026 and stronger performance in 2027. However, he did not provide a specific 2027 capital spending or production-growth forecast during the call.

Midstream network seen as a flow-assurance advantage Management emphasized that the acquisitions strengthen the fit between Matador’s upstream portfolio and its midstream network. Foran said Cardinal’s pipeline system complements the company’s existing infrastructure across the Delaware Basin and noted that approximately 100 rigs are operating within 10 miles of its pipelines.

He said growing activity in the area could create tighter gas transportation markets and increase the importance of flow assurance. Matador aims to use its infrastructure both for its own production and potentially for third-party customers, according to Foran.

Erman said Matador assigned $50 million of midstream value to the Paloma transaction and nearly $100 million of midstream value to the federal lease sale. He said the acquired assets stand on their own from an E&P perspective while also adding value to the midstream business.

Michael Frenzel, executive vice president and treasurer, said a significant marketing gain in the quarter reflected the company’s marketing team’s efforts to mitigate weak Waha natural gas pricing. He said Matador does not necessarily expect that gain to recur, but anticipates improved natural gas realizations from the Hugh Brinson Pipeline and other agreements with Energy Transfer.

Management keeps acquisition option open while reducing debt Foran described the company as being in a period of deleveraging following its recent transactions, while remaining open to future opportunities that fit Matador’s strategy. He said the company’s revolving-based lending group includes 19 banks and that the group has increased its borrowing base, providing capacity should another acquisition opportunity emerge.

He also pointed to drilling efficiency gains, saying Matador reduced drilling time for three-mile wells from roughly 20 days to about 10 days. The company said those operational improvements can lower capital requirements and improve well economics.

In closing remarks, management also highlighted the first Rae’s Creek well, which Foran said produced more than 2,200 barrels. Elsener said the initial well came online stronger than expected and that the company sees potential for the target as part of its future development program.

About Matador Resources (NYSE:MTDR)Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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Why Rare Earth Processing Could Be the Real 2027 OpportunityMP Materials NYSE: MP reported second-quarter 2026 revenue and PPA income of $126.1 million, more than double the prior-year period, as sales volumes of neodymium-praseodymium, or NdPr, increased 127% year over year. Consolidated adjusted EBITDA was $28.5 million, improving by $41 million from a year earlier, while adjusted diluted earnings per share improved $0.12 to a loss of $0.01 per share.

Chief Executive Officer James Litinsky said the company continued to expand both its rare-earth materials and magnetics businesses during the quarter, including higher NdPr output, progress on heavy rare-earth separation, customer qualification work at its Independence magnet facility, and construction of its planned 10X magnet manufacturing facility.

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Materials production and sales increase Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?MP Materials produced 840 metric tons of NdPr during the quarter, a 41% increase from a year earlier. The total was achieved despite an extended planned plant shutdown in April, according to Litinsky. NdPr sales exceeded 1,000 metric tons for the second consecutive quarter.

The Materials segment generated $113.2 million in revenue plus PPA income and $32.5 million in adjusted EBITDA, representing a $45 million year-over-year improvement.

Oil Prices Are Surging and These 4 Stocks Are Cashing InChief Operating Officer Michael Rosenthal said the company expects third-quarter NdPr production to exceed 1,000 metric tons as plant reliability, throughput and operational consistency improve. The company is working through reliability issues affecting a limited number of circuits and expects the benefits of higher throughput, process efficiency, lower maintenance intensity and the restart of its chlor-alkali facility to build progressively through 2027.

For the third quarter, Chief Financial Officer Ryan Corbett said MP Materials expects NdPr oxide realized prices in the high-$90s per kilogram, with PPA income of roughly $10 per kilogram. Materials sales volume is expected to be “flattish” sequentially, depending on shipment timing, sales mix and metallization lead times. As of June 30, the company had approximately 650 metric tons of NdPr oxide and metal on hand, in transit, at toll processors or awaiting shipment.

Heavy rare-earth projects and gadolinium agreement MP Materials said it achieved mechanical completion of its first heavy rare-earth separation circuit in May and is preparing to introduce feed into the facility. The company remains on track to begin producing terbium and dysprosium later this year, though Rosenthal said the exact pace of the ramp will depend on commissioning activities and the company’s focus on product quality.

The company also announced a long-term agreement to supply gadolinium oxide to a U.S. aerospace and defense manufacturer. Litinsky described the agreement as a sizable nine-figure deal over multiple years. Corbett said the contract includes locked-in economics and could offer opportunities for greater volumes over time.

MP Materials is advancing a samarium program with first production planned for 2028. Following an extended pilot campaign, the company is also moving forward with engineering and procurement for a gadolinium separation project on a similar timeline. Rosenthal said the company plans to break ground during August on an expanded Mountain Pass area intended to house magnet recycling and additional heavy rare-earth separation and finishing capacity.

Management said the company is evaluating opportunities across other rare earths contained in its ore body, including yttrium. The company also said its heavy rare-earth separation circuit was designed to process third-party feedstocks.

Magnetics business prepares for commercial shipments At MP Materials’ Independence facility in Texas, the company delivered magnets to General Motors for in-vehicle qualification testing during the quarter. The company continues to expect initial commercial magnet shipments to begin in the fourth quarter, followed by a gradual production ramp.

Rosenthal said the facility is demonstrating the capability and consistency needed to support customer volume ramp requirements, though qualification also involves capacity staging, batch traceability, quality systems integration and vehicle-level testing. Corbett said early magnet production will create variable quarterly financial results as precursor product sales decline and commercial magnet volumes begin to scale.

The Magnetics segment’s revenue declined slightly from the first quarter, reflecting a greater proportion of costs tied to magnet-production startup rather than precursor production. However, precursor production generated adjusted EBITDA margins above 40% during the quarter.

The company has approximately $46 million of prepaid revenue from magnetic precursor products remaining to be recognized over the next three to four quarters, declining modestly each quarter. Once that prepayment is fully recognized, MP Materials expects to dedicate metal production capacity to its own finished magnet manufacturing rather than external precursor sales.

10X construction and capital spending MP Materials spent $230.3 million on capital expenditures during the second quarter, with more than 60% directed toward the Magnetics segment. The company acquired the 10X site for approximately $80 million during the quarter, bringing year-to-date capital spending to $308 million as of June 30. It maintained full-year capital expenditure guidance of $500 million to $600 million.

Construction at 10X is advancing, with foundation work underway and long-lead equipment ordered. Litinsky said during closing remarks that the company had received confirmation it was “officially vertical” at the site.

MP Materials ended the quarter with $1.45 billion in cash and short-term investments. Corbett said the balance sheet, together with anticipated improvement in operating cash flow from increasing oxide and magnet sales, fully funds the company’s long-term capital plan.

Litinsky also discussed Project Swarm, an initiative intended to aggregate and standardize future magnet demand among U.S. and allied drone manufacturers. The company said it has signed subscription agreements with several participants and views the program as a way to provide emerging autonomous-system companies access to future manufacturing capacity while retaining flexibility in product development.

About MP Materials (NYSE:MP)MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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

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HomeCryptoInnovationAs USDY turns three, Ondo's tokenized Treasury note reaches a $2.1 billion market cap.

Ondo Finance is marking a milestone for one of its earliest products, as its tokenized Treasury note, USDY, turns three with a market cap of $2.1 billion.

USDY, short for U.S. Dollar Yield Token, is a token backed by short-term U.S. Treasuries and bank deposits. According to Ondo, it now ranks among the top three tokenized Treasuries. 

Tokenized Treasuries are blockchain-based versions of government debt that let holders earn yield onchain rather than through a traditional brokerage.

Ondo Finance is a company that builds tools to bring institutional-grade financial products onto public blockchains. It says USDY was one of the first signals that tokenization could reshape how financial products are issued, accessed, and used.

3 years of growth across 6 chainsUSDY tracks the value of the U.S. dollar, but its price typically sits slightly above $1 because the yield each unit earns is added back into the token, lifting its value over time. 

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The reserves behind it are held in Treasury bills and bank demand deposits, both considered cash equivalents. Ondo says the token supports permissionless transfers and round-the-clock minting and redemption.

Trending on TheStreet Roundtable:What Wall Street expects from Circle, MARA, Galaxy earnings this weekMajor crypto exchange eyes IPO amid market slumpMorgan Stanley downgrades Circle, slashes price target by 64%Since launching in August 2023, USDY has expanded to run across six blockchains and now counts nearly 30,000 holders, according to Ondo. 

The company says the token has seen $8.5 billion in transfer volume over the last three years.

The milestone reflects a broader push to move real-world assets onchain, a market where Ondo has positioned itself around institutional standards. 

By keeping the token compliant while preserving the flexibility of blockchain-based transfers, Ondo is betting that tokenized Treasuries can serve both traditional finance and crypto users at once.

Robinhood Chain went live in early July 2026 as an AI-native Layer 2 built specifically for tokenized financial services and real-world assets. Within weeks, Virtuals Protocol had made it one of the more interesting experiments in on-chain AI infrastructure, bringing its agent framework to a chain designed from the ground up for autonomous economic activity.

The integration means users can now create, fund, own, and deploy AI agents that interact directly with tokenized markets, all with verifiable on-chain records covering token vesting schedules, team wallet activity, and development roadmaps.

The numbers are moving fast More than 5,600 AI agents have launched on Robinhood Chain in fewer than 30 days. Collectively, those agents have contributed to an on-chain economy the protocol values at roughly $200 million. The chain has also collected nearly $1.1 million in fees over that same 30-day window.

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The agents are doing real work: automated trading, construction of custom tokenized asset indexes, and the kind of market-making activity that typically requires human desks or expensive proprietary software. Virtuals Protocol’s infrastructure standardizes how those agents communicate and transact with each other through its Agent Commerce Protocol, which sets rules for agent-to-agent interactions and secures the economic rails underneath them.

Why transparency is the actual story On Robinhood Chain, through Robinscan, users can inspect individual Virtuals agents and see their token vesting timelines, the transaction history of team wallets, and stated project roadmaps.

Virtuals Protocol initially launched on Base, Coinbase’s Ethereum Layer 2, before expanding its reach across multiple chains. The Robinhood Chain integration extends that multi-chain strategy to a network explicitly designed for financial services use cases.

The VIRTUAL token, which powers staking, fee payments, and governance within the Virtuals ecosystem, has seen a price jump of around 20% tied to integration milestones during July. Agents require VIRTUAL for certain operations, and governance decisions about protocol parameters flow through token holders.

What this means for the broader AI agent landscape The $200 million agent economy figure deserves some scrutiny alongside the enthusiasm. Early-stage crypto ecosystems frequently report headline numbers that reflect total value within the system rather than realized economic output. That said, the fee revenue, nearly $1.1 million in 30 days, is harder to inflate. Fees require actual transactions, and actual transactions require actual users doing something with actual assets.

For investors and builders watching this space, the Robinscan transparency tools are probably the most replicable part of the story. The standard Virtuals Protocol is setting for what an AI agent’s public record should look like may end up mattering as much as the agent count itself.

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

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The Bitcoin network is bracing for a potential minority chain fork this weekend, and the immediate risk isn’t just about price volatility—it’s about users accidentally draining their own wallets. A developer warning circulating ahead of the expected BIP-110 split makes clear that selling forked coins could inadvertently authorize transactions on the original Bitcoin chain, resulting in permanent loss of real BTC. The safest course, as outlined in the original report, is to do nothing until the chains are properly separated.

Unlike previous high-profile forks such as Bitcoin Cash, which shipped with strong replay protection, this minority chain apparently inherits Bitcoin’s transaction format without any mechanism to distinguish new chain operations from legacy ones. That means any signed transaction broadcast on the fork network to sell or move new coins can be captured and replayed on Bitcoin itself. The result: a user thinking they are only disposing of forked tokens could be emptying their BTC balance into an attacker’s address.

Why Replay Attacks Still Threaten Bitcoin Forks Replay attacks are not a new concept. They plagued the 2017 Bitcoin Cash split until wallets and exchanges implemented opt-in replay protection. The core problem is that if two chains share an identical transaction history, a valid signature on one chain remains valid on the other unless the transaction data is modified to include a chain-specific identifier. BIP-110 seems not to have addressed this, leaving the door open for a wave of opportunistic exploits as soon as trading begins on the new chain.

Exchanges that plan to list the forked asset face a delicate operational challenge. They must decide whether to credit customers with the new tokens and enable trading, knowing that any sell order from a user could trigger a cross-chain broadcast. Historically, platforms like Coinbase and Binance have taken a cautious stance with unprotected forks, often delaying support until replay safeguards are in place. The absence of such protections now shifts the burden entirely onto individual holders.

What You Should Do, and What Remains Unclear For the average Bitcoin holder, the instruction is simple: don’t move coins. Don’t attempt to claim, sell, or transfer the forked tokens from any wallet that also holds real BTC. Even advanced users who understand transaction structure could fall victim if the wallet software does not enforce replay prevention at the protocol level. The safest play is to wait for clear separation signals, such as the introduction of a unique chain ID or a software update from major wallet providers.

What remains uncertain is whether the minority chain will attract enough liquidity or exchange support to matter. Forked coins without replay protection often fade quickly because the risk of loss discourages legitimate trading. If the chain fails to gain traction, the replay risk might never be fully tested. However, if a single exchange lists the new asset and users start trading, the vulnerability becomes instantly exploitable. That timing uncertainty is what makes the coming days critical.

Broader market participants are watching for any sign of disruption to Bitcoin’s settlement layer. While Bitcoin itself is unlikely to face fundamental security threats, a high-profile replay incident could shake confidence among institutional custodians and delay integration plans for new protocols. The episode also reinforces the need for standardized replay protection in any future upgrade proposal that might create a parallel chain, intentional or not.

AUTHOR

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.