First National Bank of Mount Dora Trust Investment Services v 1. čtvrtletí snížila podíl v PACCAR o 69,7 % na 2 309 akcií. PACCAR zároveň oznámila čtvrtletní dividendu 0,35 USD na akcii.
First National Bank of Mount Dora Trust Investment Services decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 69.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,309 shares of the company’s stock after selling 5,304 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in PACCAR were worth $267,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PCAR. Norges Bank bought a new position in PACCAR during the 4th quarter valued at approximately $727,745,000. Wellington Management Group LLP grew its stake in shares of PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. UBS Group AG increased its holdings in shares of PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PACCAR by 129.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock valued at $249,237,000 after acquiring an additional 1,286,056 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of PACCAR by 17,292.6% in the 4th quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after purchasing an additional 1,195,785 shares during the last quarter. 64.90% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades Several brokerages recently commented on PCAR. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research report on Wednesday. Morgan Stanley set a $119.00 target price on shares of PACCAR in a report on Wednesday. Citigroup increased their price target on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $131.70.
Read Our Latest Analysis on PCAR
PACCAR Stock Performance Shares of PCAR stock opened at $132.68 on Monday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $121.41 and a 200-day moving average price of $120.88. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The firm has a market capitalization of $69.84 billion, a PE ratio of 27.87, a P/E/G ratio of 1.06 and a beta of 0.97.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR Inc. will post 5.78 earnings per share for the current year.
PACCAR Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is 29.41%.
More PACCAR News Here are the key news stories impacting PACCAR this week:
Positive Sentiment: JPMorgan raised its price target to $164, signaling confidence that PACCAR’s earnings outlook supports additional appreciation. JPMorgan Chase & Co. Increases PACCAR Price Target to $164.00 Positive Sentiment: Recent Q2 coverage highlighted margin gains and record parts revenue, which strengthen the company’s profitability story and helped drive the previous session’s rally. Why PACCAR Is Up After Q2 Margin Gains and Record Parts Revenue Positive Sentiment: Wells Fargo lifted its price target from $125 to $157 while retaining an Equal Weight rating, suggesting analysts see meaningful value even without an outright bullish recommendation. Wells Fargo Raises PACCAR Price Target Positive Sentiment: Comparative Zacks coverage is evaluating PACCAR favorably against automotive and truck-sector alternatives, including Tesla and Yamaha Motor, which may support investor interest in PCAR as a value-oriented industrial stock. PCAR vs. TSLA: Which Stock Should Value Investors Buy Now? Neutral Sentiment: Citigroup raised its target from $125 to $140 but kept a Neutral rating, while the broader analyst consensus remains Hold. This reflects improved expectations but limited conviction at current levels. Citigroup Issues Positive Forecast for PACCAR Negative Sentiment: With PCAR trading near its 12-month high and at roughly 28 times earnings, some investors may be taking profits or questioning whether the strong Q2-related gains are already reflected in the stock. About PACCAR (Free Report)
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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TNL Mediagene zřídila zvláštní výbor nezávislých ředitelů, který posoudí strategické transakce a alternativy. K tomu najala Imperial Capital jako finančního poradce.
TNL Mediagene's Board of Directors has established a special committee of independent directors to evaluate, and make recommendations to the Board regarding, potential strategic transactions and alternatives available to the Company.
The special committee is composed solely of independent directors - Priscilla Han (Chair), Lauren Zalaznick, and Naoko Okumoto.
The special committee has retained Greenberg Traurig, LLP as its independent legal counsel and Imperial Capital, LLC as its independent financial advisor, each reporting solely to the special committee.
Tokyo, Japan--(Newsfile Corp. - August 3, 2026) - TNL Mediagene (NASDAQ: TNMG) (the "Company"), a technology and digital media company providing AI-driven advertising, marketing technology, content commerce and data analytics solutions, and operating multi-language digital media brands across Asia, today announced that its Board of Directors (the "Board") has established a special committee of independent directors (the "Special Committee") to lead the Company's evaluation of potential strategic transactions and alternatives.
The Special Committee is composed solely of independent directors and consists of Priscilla Han, who serves as Chair, Lauren Zalaznick, and Naoko Okumoto. The Special Committee has been authorized by the Board to review, evaluate and, as appropriate, negotiate and make recommendations to the Board with respect to potential strategic transactions and alternatives available to the Company, which may include, among others, a financing, recapitalization, merger, business combination, share issuance, disposition or other strategic transaction, as well as the alternative of continuing to pursue the Company's existing operations. The Special Committee's mandate is to act in the best interests of the Company and its shareholders as a whole.
To assist in its work, the Special Committee has retained Greenberg Traurig, LLP as its independent legal counsel and Imperial Capital, LLC as its independent financial advisor. Each advisor was selected and engaged by, and reports solely to, the Special Committee. Imperial Capital's mandate is to identify and evaluate transactions that would maximize value for the Company's shareholders.
While the Special Committee conducts its evaluation, the Company's management will remain focused on the effective operation of the Company's businesses. Management will support the Special Committee's process as and when requested by the Special Committee, subject to the Special Committee's conflicts protocol and the recusal of any interested member of management from matters in which he or she has an interest.
No definitive course of action has been determined with respect to any strategic transaction or alternative, and there can be no assurance that the Special Committee's evaluation will result in any transaction, or as to the terms, structure or timing of any transaction that may be pursued. The Board cautions the Company's shareholders and others considering trading in the Company's securities that no decision has been made with respect to any transaction. The Company does not intend to disclose or comment on developments regarding the Special Committee's evaluation unless and until it determines that further disclosure is appropriate or required.
About TNL Mediagene
Headquartered in Tokyo, TNL Mediagene (NASDAQ: TNMG) is a technology company providing AI-powered advertising, marketing technology, content commerce, and data analytics solutions to brands and agencies across Asia. Formed in May 2023 through the merger of Japan's Mediagene Inc. and Taiwan's The News Lens Co., Ltd., the Company combines advertising and marketing technology platforms with a portfolio of established digital media brands to deliver integrated solutions for the evolving digital landscape.
The Company's technology offerings include AI-driven advertising, marketing and digital studio services, content commerce, and advanced data analytics capabilities. These solutions are supported by the Company's well-established multi-language digital media brands in Japanese, Chinese, and English, spanning business, technology, lifestyle, and culture, which provide audience engagement and first-party data.
Known for its appeal to younger audiences, and high-quality content, TNL Mediagene has approximately 480 employees with offices in Japan and Taiwan.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to TNL Mediagene. Forward-looking statements generally relate to future events or TNL Mediagene's future financial or operating performance. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "aim," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements in this communication include, but are not limited to, statements about TNL Mediagene's future business plan and growth strategies and statements by TNL Mediagene's management. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for TNL Mediagene to predict these events or how they may affect TNL Mediagene. In addition, risks and uncertainties are described in TNL Mediagene's filings with the Securities and Exchange Commission, including the risks and uncertainties set forth under the heading "Risk Factors" in TNL Mediagene's Annual Report on Form 20-F filed on April 30, 2026, as may be supplemented or amended by the TNL Mediagene's Reports of a Foreign Private Issuer on Form 6-K. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. TNL Mediagene cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that TNL Mediagene presently does not know or that TNL Mediagene currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by TNL Mediagene, its directors, officers or employees or any other person. Except as required by applicable law, TNL Mediagene does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of TNL Mediagene as of any date subsequent to the date of this communication.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307650
Source: TNL Mediagene
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Atkore Inc. (ATKR - Free Report) came out with quarterly earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.63 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +30.61%. A quarter ago, it was expected that this company would post earnings of $0.92 per share when it actually produced earnings of $1.23, delivering a surprise of +33.7%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Atkore, which belongs to the Zacks Wire and Cable Products industry, posted revenues of $794.8 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.98%. This compares to year-ago revenues of $735.04 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Atkore shares have added about 15.4% since the beginning of the year versus the S&P 500's gain of 9.4%.
What's Next for Atkore?While Atkore has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Atkore was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.76 on $788.4 million in revenues for the coming quarter and $5.31 on $2.93 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Wire and Cable Products is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Industrial Products sector, DNOW (DNOW - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This energy and industrial distribution company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of -70.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
DNOW's revenues are expected to be $1.26 billion, up 101.3% from the year-ago quarter.
Southern Company oznámila nabídku konvertibilních seniorních dluhopisů za 2,15 miliardy USD. Část výnosů použije na odkup části stávajících konvertibilních dluhopisů a na splacení veškerého nebo části krátkodobého dluhu.
, /PRNewswire/ -- Southern Company (NYSE: SO) today announced offerings of $650 million in aggregate principal amount of its convertible senior notes due December 15, 2027 (the "2027 Convertible Notes") and $1.5 billion in aggregate principal amount of its convertible senior notes due September 15, 2029 (the "2029 Convertible Notes" and, together with the 2027 Convertible Notes, the "Convertible Notes") in private placements to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, Southern Company expects to grant the initial purchasers of the Convertible Notes options to purchase, for settlement within a period of 13 days from, and including, the date the Convertible Notes are first issued, up to an additional $97.5 million in aggregate principal amount of the 2027 Convertible Notes and up to an additional $225 million in aggregate principal amount of the 2029 Convertible Notes.
Final terms of each series of Convertible Notes, including the initial conversion price, interest rate and certain other terms of the Convertible Notes, will be determined at the time of pricing. The Convertible Notes will be senior, unsecured obligations of Southern Company. Interest on the Convertible Notes will be paid semiannually. The Convertible Notes will mature on December 15, 2027 (in the case of the 2027 Convertible Notes) and September 15, 2029 (in the case of the 2029 Convertible Notes), unless earlier repurchased or converted in accordance with their terms.
Prior to September 15, 2027 (in the case of the 2027 Convertible Notes) or June 15, 2029 (in the case of the 2029 Convertible Notes), the Convertible Notes will be convertible only upon the occurrence of certain events and during certain periods. From and after September 15, 2027 (in the case of the 2027 Convertible Notes) or June 15, 2029 (in the case of the 2029 Convertible Notes), the Convertible Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the applicable series of the Convertible Notes. Upon conversion, Southern Company will pay cash up to the aggregate principal amount of the Convertible Notes of the applicable series to be converted and pay or deliver, as the case may be, cash, shares of Southern Company's common stock, or a combination of cash and shares of common stock, at Southern Company's election, in respect of the remainder, if any, of Southern Company's conversion obligation in excess of the aggregate principal amount of the Convertible Notes of the applicable series being converted.
Southern Company intends to use a portion of the net proceeds from these offerings to repurchase a portion of its Series 2024A 4.50% Convertible Senior Notes due June 15, 2027 (the "Series 2024A Convertible Notes") and its Series 2025A 3.25% Convertible Senior Notes due June 15, 2028 (together with the Series 2024A Convertible Notes, the "Existing Convertible Notes"), in each case through individually negotiated transactions with a limited number of holders thereof (each, a "note repurchase transaction"), effected through one of the initial purchasers of the Convertible Notes or its affiliate. Southern Company intends to use any remaining net proceeds to repay all or a portion of its outstanding short-term debt and for other general corporate purposes, which may include investment in its subsidiaries.
Contemporaneously with the pricing of the Convertible Notes, Southern Company expects to enter into one or more separate and privately negotiated transactions with a limited number of holders of the Existing Convertible Notes to use a portion of the proceeds of the offerings to repurchase a portion of the Existing Convertible Notes on terms to be negotiated with each such holder. The terms of each note repurchase transaction are anticipated to be individually negotiated with each such holder of the Existing Convertible Notes and will depend on several factors, including the market price of Southern Company's common stock and the trading price of the applicable Existing Convertible Notes at the time of each such note repurchase transaction. Southern Company may also repurchase outstanding Existing Convertible Notes following the completion of the offerings of the Convertible Notes. No assurance can be given as to how much, if any, of the Existing Convertible Notes will be repurchased or the terms on which they will be repurchased.
Southern Company expects that holders of the Existing Convertible Notes that sell their Existing Convertible Notes to Southern Company in any note repurchase transaction may enter into or unwind various derivatives with respect to Southern Company's common stock and/or purchase or sell shares of Southern Company's common stock in the market to hedge their exposure in connection with these transactions. In particular, Southern Company expects that many holders of the Existing Convertible Notes employ a convertible arbitrage strategy with respect to the Existing Convertible Notes and have a short position with respect to Southern Company's common stock that they would close, through purchases of Southern Company's common stock and/or the entry into or unwind of economically equivalent derivatives transactions with respect to Southern Company's common stock, in connection with Southern Company's repurchase of their Existing Convertible Notes for cash. This activity could increase (or reduce the size of any decrease in) the market price of Southern Company's common stock or the Convertible Notes at that time and could result in higher effective conversion prices for the Convertible Notes.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The offer and sale of the Convertible Notes and the shares of common stock issuable upon conversion of the Convertible Notes, if any, have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and the Convertible Notes and such shares of common stock may not be offered or sold without registration or an applicable exemption from registration requirements.
About Southern Company
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy distribution company with national capabilities, a fiber optics network and telecommunications services.
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the planned offerings of the Convertible Notes, the expected use of proceeds from the offerings and the note repurchase transactions. Southern Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026 and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: global and U.S. economic conditions, including impacts from geopolitical conflicts, recession, inflation, changes in trade policies (including tariffs and other trade measures) of the United States and other countries, interest rate fluctuations and financial market conditions, and the results of financing efforts; access to capital markets and other financing sources; changes in Southern Company's credit ratings; and catastrophic events such as fires, including wildfires, land movement, earthquakes, explosions, floods, high winds, tornadoes, hurricanes and other storms, solar flares, droughts, future epidemic or pandemic health events, wars, political unrest or other similar occurrences. Southern Company expressly disclaims any obligation to update any forward‐looking information.
CNA Financial za 2. čtvrtletí vykázala zisk 1,19 USD na akcii a tržby 3,47 miliardy USD, obojí nad odhady. Zisk byl meziročně nižší než 1,23 USD na akcii.
CNA Financial (CNA - Free Report) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +14.42%. A quarter ago, it was expected that this insurance holding company would post earnings of $1.49 per share when it actually produced earnings of $0.83, delivering a surprise of -44.3%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
CNA Financial, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $3.47 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.65%. This compares to year-ago revenues of $3.37 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
CNA Financial shares have added about 9.9% since the beginning of the year versus the S&P 500's gain of 9.4%.
What's Next for CNA Financial?While CNA Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for CNA Financial was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.21 on $3.54 billion in revenues for the coming quarter and $4.09 on $13.8 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, American Integrity Insurance (AII - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 11.
This company is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -56%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
American Integrity Insurance's revenues are expected to be $93.5 million, up 26.3% from the year-ago quarter.
Eve Air Mobility oznámila první částečný přechodový let svého eVTOL prototypu, který potvrdil aktivaci zadní tlačné vrtule ve vzduchu. Test trval 3 minuty a 9 sekund.
The flight is the first time that the aircraft's pusher propulsion system is activated while in the air and it confirms the key features of Eve's eVTOL design.
, /PRNewswire/ -- Eve Air Mobility (NYSE: EVEX, EVEXW; B3: EVEB31), a leader in advanced air mobility, announced that its engineering prototype has completed its first partial transition flight, marking an important milestone in the development and testing of the company's electric vertical takeoff and landing (eVTOL) aircraft.
The flight involved the activation of the aircraft's rear pusher propeller and thus signified the start of the transition phase from vertical to wing-borne flight. During the test, the aircraft attained a stabilized speed of 27 knots and a maximum ground speed of 30 knots whilst the pusher was activated up to 1,200 RPM.
The flight took 3 minutes and 9 seconds, travelled approximately 0.84 nautical miles and attained a maximum height of 90 feet above ground level.
"This first partial transition flight is an important milestone in Eve's development journey," said Johann Bordais, chief executive officer of Eve Air Mobility. "Successfully activating the pusher propulsion system in flight validates a key aspect of our aircraft design and brings us one step closer to delivering safe, efficient and scalable air mobility solutions."
The transition phase is one of the most critical aspects of eVTOL flight, as it involves the aircraft moving from vertical lift to forward flight. The successful completion of this initial partial transition test further advances Eve's efforts to expand the aircraft's flight envelope and validate system performance.
"This flight successfully demonstrated pusher activation in flight and validated key performance targets at the start of the transition phase," said Marcelo Basile, head of engineering at Eve Air Mobility. "The data collected will support continued envelope expansion as we advance toward higher speeds and more complex transition flight testing."
Eve's flight test engineering team is continuing ongoing loads and structural analyses to support future envelope expansion. Following the aircraft's flight-testing program, the company plans to conduct datalink testing to validate radio link performance and support operations at speeds up to 50 knots.
Over the coming weeks, Eve expects to progressively expand the aircraft's airspeed envelope, including additional flights with pusher activation as part of the broader transition flight-test campaign.
About Eve Air Mobility
Eve Air Mobility is dedicated to accelerating the Urban Air Mobility (UAM) ecosystem. Benefitting from a start-up mindset, backed by Embraer's 56-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Eve is listed on the New York Stock Exchange (EVEX; EVEXW) and the São Paulo Stock Exchange (EVEB31), where its shares of common stock, public warrants and Brazilian Depository Receipts are traded. For more information, please visit www.eveairmobility.com.
Images: Eve 100 Partial Transition Flight
Forward-Looking Statement Disclosure
Certain statements contained in this release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company's plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company's current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations of the company's most recent Annual Report on Form 10-K, Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company's most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company's other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements. other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.
International Flavors & Fragrances oznámí výsledky za 2. čtvrtletí 2026 po uzavření trhu v úterý. Analytici čekají zisk 1,07 USD na akcii a tržby 2,621 miliardy USD.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) is expected to release its Q2 2026 results after the market closes on Tuesday, August 4th. Analysts expect International Flavors & Fragrances to post earnings of $1.07 per share and revenue of $2.6210 billion for the quarter. Parties can find conference call details on the company’s upcoming Q2 2026 earning results page for the latest details on the call scheduled for Wednesday, August 5, 2026 at 9:00 AM ET.
International Flavors & Fragrances (NYSE:IFF – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, analysts expect International Flavors & Fragrances to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
International Flavors & Fragrances Stock Up 0.1% Shares of IFF opened at $79.29 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. The company has a 50-day simple moving average of $77.02 and a 200-day simple moving average of $75.03. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $84.45. The firm has a market capitalization of $20.24 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.98 and a beta of 0.93.
International Flavors & Fragrances Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s payout ratio is currently 48.93%.
Analysts Set New Price Targets IFF has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, June 1st. BNP Paribas Exane upped their target price on International Flavors & Fragrances from $85.00 to $95.00 in a research note on Thursday, May 7th. Jefferies Financial Group raised their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Morgan Stanley lifted their price target on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Argus increased their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.16.
Get Our Latest Stock Analysis on International Flavors & Fragrances
Insider Activity In related news, Director Paul J. Fribourg acquired 260,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. The trade was a 10.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.07% of the company’s stock.
Institutional Investors Weigh In On International Flavors & Fragrances A number of hedge funds have recently made changes to their positions in IFF. Pacer Advisors Inc. raised its position in International Flavors & Fragrances by 7.6% in the 4th quarter. Pacer Advisors Inc. now owns 21,984 shares of the specialty chemicals company’s stock valued at $1,482,000 after purchasing an additional 1,544 shares during the last quarter. Invesco Ltd. grew its holdings in shares of International Flavors & Fragrances by 4.9% during the fourth quarter. Invesco Ltd. now owns 7,519,812 shares of the specialty chemicals company’s stock worth $506,760,000 after purchasing an additional 352,636 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of International Flavors & Fragrances by 63.8% during the fourth quarter. Corient Private Wealth LLC now owns 110,140 shares of the specialty chemicals company’s stock worth $7,422,000 after purchasing an additional 42,906 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of International Flavors & Fragrances by 36.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 51,528 shares of the specialty chemicals company’s stock valued at $3,472,000 after buying an additional 13,685 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its holdings in shares of International Flavors & Fragrances by 231.7% in the fourth quarter. State of Tennessee Department of Treasury now owns 95,739 shares of the specialty chemicals company’s stock valued at $6,684,000 after buying an additional 66,872 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.
About International Flavors & Fragrances (Get Free Report)
International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.
IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.
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Avista potvrdila výhled non-GAAP zisku z utilitních aktivit pro rok 2026 v pásmu 2,52 až 2,72 USD na akcii. Za 2. čtvrtletí vykázala GAAP čistý zisk 35 mil. USD, proti 14 mil. USD před rokem.
SPOKANE, Wash., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Avista Corp. (NYSE: AVA) today reported the following results for the second quarter of 2026 and the six months ended June 30, 2026 as compared to the respective periods in 2025 (dollars in millions, except per-share amounts):
Second Quarter Year-to-Date 2026 2025 2026 2025 Net income based on GAAP $35 $14 $127 $93 Earnings per diluted share based on GAAP $0.43 $0.17 $1.54 $1.15 Non-GAAP utility earnings1 $23 $24 $114 $105 Non-GAAP utility earnings per diluted share1 $0.29 $0.29 $1.38 $1.30 Avista Corp. is confirming its 2026 non-GAAP utility earnings guidance2 with a range of $2.52 to $2.72 per diluted share.
CEO Perspective
“Strong execution of our operational priorities and disciplined cost management reinforce confidence in our outlook and long-term strategy. Results for the quarter also benefited from the recovery of non-utility investment losses recognized in 2025. By maintaining a balanced approach to investments in our system and affordability, we continue to position the company to deliver value for both our customers and shareholders,” said Heather Rosentrater, President and CEO of Avista.
Analysis of 2026 GAAP Earnings
Net income for the three and six months ended June 30, 2026 increased compared to the respective periods in 2025 primarily due to investment performance at our other businesses. We recognized net investment gains in 2026, compared to net investment losses in 2025. For the six months ended June 30, 2026, net income also increased as a result of the impacts of our general rate cases.
¹ See reconciliations to GAAP measures and further information in the "Non-GAAP Financial Measures" section within this press release.
² Avista Corp. is unable to provide GAAP earnings guidance or present a quantitative reconciliation of forward-looking non-GAAP utility earnings and utility growth guidance without unreasonable effort because certain reconciling items are not estimable. For instance, investment gains and losses, which have historically made up the majority of our non-regulated other business earnings and can be significant to our overall results, are difficult to predict due to various factors outside of management's control. These items are uncertain, depend on various factors, and may have a material impact on our future GAAP results.
Analysis of 2026 Non-GAAP Utility Earnings
The following table presents the changes in non-GAAP utility earnings and non-GAAP utility earnings per diluted share for the second quarter and year-to-date 2026, as compared to the same periods of 2025. It also outlines the various after-tax factors that contributed to these changes (dollars in millions, except per-share data):
Second Quarter Year-to-Date Net
Income (a) Earnings
per Share Net
Income (a) Earnings
per Share 2025 utility earnings $24 $0.29 $105 $1.30 Changes in net income and diluted earnings per share: Avista Utilities Electric revenues (b) — — (13) (0.16)Natural gas revenues (c) — 0.01 (27) (0.32)Electric resource costs (d) 2 0.02 13 0.16 Natural gas resource costs (e) 2 0.03 33 0.40 Other operating expenses (f) (9) (0.11) (9) (0.11)Depreciation and amortization (g) 3 0.04 6 0.08 Interest expense (2) (0.02) (3) (0.04)Other (h) 4 0.04 7 0.08 Income tax at effective rate (i) (1) — 1 0.02 Dilution on earnings n/a (0.01) n/a (0.04)Total Avista Utilities (1) 0.00 8 0.07 AEL&P — — 1 0.01 2026 utility earnings $23 $0.29 $114 $1.38 (a) The tax impact of each line item was calculated using Avista Corp.'s federal statutory tax rate of 21 percent.
(b) Electric revenues decreased year-to-date as a result of decreased wholesale revenues, the removal of revenues related to the recovery of Colstrip costs, and decreased industrial sales volumes associated with the departure of a large industrial customer. These decreases were partially offset by other effects of our general rate cases.
(c) Natural gas revenues decreased year-to-date due to purchased gas adjustments (PGAs) and Climate Commitment Act (CCA) related revenues, with corresponding decreases to natural gas resource costs.
(d) Electric resource costs decreased due to decreased fuel costs, consistent with lower thermal generation, as well as decreased expense recognized under the Energy Recovery Mechanism (ERM). For the second quarter, the ERM resulted in a $6 million pre-tax expense in 2026, compared to a $1 million pre-tax expense in 2025. The ERM resulted in a $7 million pre-tax expense for the first half of 2026, compared to a $9 million pre-tax expense in the same period in 2025.
(e) Natural gas resource costs decreased due to decreased volumes purchased, decreased net deferrals and amortizations of previously deferred costs under our PGAs, as well as decreased costs associated with the CCA.
(f) Other operating expenses increased primarily due to increased employee salaries and benefit costs, partially offset by a decrease from the removal of Colstrip related costs.
(g) Depreciation and amortization decreased primarily due to our exit from Colstrip in 2026. This decrease was partially offset by increases from additions to plant.
(h) Other increases to earnings include increased interest income compared to the prior year and decreased taxes other than income taxes.
(i) Our effective tax rate in the first half of 2026 was 12% compared to 14% in the same period of 2025.
Analysis of Non-Regulated Other Business Income
Income at our non-regulated other businesses was $13 million in the first half of 2026, compared to losses of $12 million in the first half of 2025. The fluctuation in results is primarily related to net investment gains in the second quarter of 2026 from our equity method investments, compared to net investment losses in the second quarter of 2025.
In June 2026, an underlying investment held by one of the funds in which we are invested completed an initial public offering and is now publicly traded. We estimate our portion of the fair value increase associated with this underlying investment in the second quarter of 2026 to be $17 million, which we will recognize in the third quarter as we record our activity related to this fund on a quarter lag. While actual results for the fourth quarter will reflect the fair value on Sept. 30, we estimate a loss of $13 million based on the fair value of the underlying investment on July 31. We will recognize valuation changes for other investments held, as appropriate.
Liquidity and Capital Resources
Liquidity
As of June 30, 2026, we had $199 million of available liquidity under the Avista Corp. committed line of credit and $59 million of available liquidity under our letter of credit facility.
We expect to issue up to $90 million of common stock in 2026, including $58 million issued in the first half of 2026.
We also expect to issue $230 million of long-term debt during 2026 (including $160 million issued in the first half of 2026). Due to increased regulatory deferrals and delayed recovery, we are evaluating the need for up to $100 million of additional short-term liquidity by the end of the fourth quarter of 2026.
Capital Expenditures
In the first half of 2026, Avista Utilities' capital expenditures were $314 million.
For Avista Utilities, we expect base capital expenditures as follows through 2030 (dollars in millions):
2026 2027 2028 2029 2030 Expected base annual capital expenditures $615 $635 $800 $680 $710 These estimates include expenditures for the projects selected through our 2025 request for proposal. These estimates do not include incremental transmission projects, like regional grid expansion, or additional generation. Potential additional capital expenditures associated with integrating new large load customers, if any, are also excluded.
2026 Utility Earnings Guidance and Outlook
Avista Corp. is confirming its 2026 non-GAAP utility earnings guidance with a range of $2.52 to $2.72 per diluted share.
This non-GAAP utility earnings guidance is based on the following assumptions:
Normal weather for the remainder of the yearA negative impact from the ERM of ($0.10) cents per diluted share within the 90% customer, 10% company sharing bandAn effective tax rate of 12 percentCapital expenditures of $615 million for the year Over the long term, we expect non-GAAP utility earnings to grow 4 to 6 percent from the midpoint of our 2025 earnings guidance.
Our guidance does not include the effect of unusual or non-recurring items until the effects are probable. Various factors could cause actual results to differ materially from our expectations. Please refer to our 10-K for 2025, our 10-Q for the second quarter of 2026, and the cautionary statements below for a full discussion of these factors.
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures, including utility earnings and utility earnings per diluted share. We present these non-GAAP measures in order to facilitate meaningful evaluation of our operating performance across periods, and we utilize these non-GAAP measures to assess current and forecast performance, as well as for communications with shareholders, analysts and investors. Non-GAAP measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP.
Non-GAAP utility earnings and utility earnings per diluted share exclude non-regulated other business activity, primarily consisting of realized and unrealized investment gains and losses. The presentation of utility earnings is intended to enhance the understanding of the Company's utility-specific operating performance.
The following table reconciles GAAP net income to non-GAAP utility earnings, and GAAP earnings per diluted share to non-GAAP utility earnings per diluted share for the three and six months ended June 30 (dollars in millions, except per share amounts):
Second Quarter Year-to-Date 2026 2025 2026 2025 GAAP net income as reported $35 $14 $127 $93 Non-GAAP adjustments: Non-regulated other business (income) loss (12) 10 (13) 12 Non-GAAP utility earnings $23 $24 $114 $105 GAAP earnings per diluted share as reported $0.43 $0.17 $1.54 $1.15 Non-GAAP adjustments: Non-regulated other business (income) loss per diluted share (0.14) 0.12 (0.16) 0.15 Non-GAAP utility earnings per diluted share $0.29 $0.29 $1.38 $1.30 NOTE: We will host a conference call with financial analysts and investors on Aug. 3, 2026 at 10:30 a.m. ET to discuss this news release. This call can be accessed on Avista’s website at investor.avistacorp.com. You must register for the call via the link at Avista’s website (investor.avistacorp.com) to access the call-in details for the webcast. A replay of the webcast will be available for one year on the Avista Corp. web site at investor.avistacorp.com.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to approximately 429,000 customers and natural gas to 386,000 customers. Our service territory covers 34,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. AERC is an Avista subsidiary that, through its subsidiary AEL&P, provides retail electric service to 18,000 customers in the city and borough of Juneau, Alaska. Our stock is traded under the ticker symbol “AVA”. For more information about Avista, please visit avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
This news release contains forward-looking statements, including statements regarding our current expectations for future financial performance and cash flows, capital expenditures, financing plans, our current plans or objectives for future operations and other factors, which may affect the company in the future. Such statements are subject to a variety of risks, uncertainties and other factors, most of which are beyond our control and many of which could have significant impact on our operations, results of operations, financial condition or cash flows and could cause actual results to differ materially from those anticipated in such statements.
The following are among the important factors that could cause actual results to differ materially from the forward-looking statements:
Utility Regulatory Risk
state and federal regulatory decisions or related judicial decisions that affect our ability to recover costs and earn a reasonable return, including, but not limited to, disallowance or delay in the recovery of capital investments, operating costs, commodity costs, the ordering of refunds to customers and discretion over allowed return on investment; the loss of regulatory accounting treatment, which could require the write-off of regulatory assets and the loss of regulatory deferral and recovery mechanisms;
Operational Risk
weather conditions, which affect both energy demand and electric generating capability, including the impact of precipitation and temperature on hydroelectric resources, the impact of wind patterns on wind-generated power, weather-sensitive customer demand, and similar impacts on supply and demand in the wholesale energy markets; wildfires ignited, or allegedly ignited, by our equipment or facilities could cause significant loss of life and property or result in liability for resulting fire suppression costs and/or damages, thereby causing serious operational, reputational and financial harm; severe weather or natural disasters, including, but not limited to, avalanches, wind storms, wildfires, earthquakes, floods, extreme temperature events, snow and ice storms that could disrupt energy generation, transmission and distribution, as well as the availability and costs of fuel, materials, equipment, supplies and support services; political unrest and/or conflicts between foreign nation-states, which could disrupt the global, national and local economy, result in increases in operating and capital costs, impact energy commodity prices or our ability to access energy resources, create disruption in supply chains, disrupt, weaken or create volatility in capital markets, and increase cyber and physical security risks. In addition, any of these factors could negatively impact our liquidity and limit our access to capital, among other implications; explosions, fires, accidents, mechanical breakdowns or other incidents that could impair assets and may disrupt operations of our generation facilities, transmission, and electric and natural gas distribution systems or other operations and may require us to purchase replacement power or incur costs to repair our facilities; interruptions in the delivery of natural gas by our suppliers, including physical problems with pipelines themselves, can disrupt our service of natural gas to our customers and/or impair our ability to operate gas-fired electric generating facilities; explosions, fires, accidents or other incidents arising from or allegedly arising from our operations that could cause injuries to the public or property damage; dam failure at a company-owned hydroelectric facility; blackouts or disruptions of interconnected transmission systems (the regional power grid); terrorist attacks, cyberattacks or other malicious acts that could disrupt or cause damage to our utility assets or to the national or regional economy in general, including effects of terrorism, cyberattacks, ransomware, or vandalism that damage or disrupt information technology systems; pandemics, which could disrupt our business, as well as the global, national and local economy, resulting in a decline in customer demand, deterioration in the creditworthiness of our customers, increases in operating and capital costs, workforce shortages, losses or disruptions in our workforce due to vaccine mandates, delays in capital projects, disruption in supply chains, and disruption, weakness and volatility in capital markets. In addition, any of these factors could negatively impact our liquidity and limit our access to capital, among other implications; work-force issues, including changes in collective bargaining unit agreements, strikes, work stoppages, the loss of key executives, availability of workers in a variety of skill areas, and our ability to recruit and retain employees; changes in the availability and price of purchased power, fuel and natural gas, as well as transmission capacity; increasing costs of insurance, more restrictive coverage terms and our ability to obtain insurance; delays or changes in construction costs, and/or our ability to obtain required permits and materials for present or prospective facilities; increasing health care costs and cost of health insurance provided to our employees and retirees; increasing operating costs, including effects of inflationary pressures; third party construction of buildings, billboard signs, towers or other structures within our rights of way, or placement of fuel containers within close proximity to our transformers or other equipment, including overbuilding atop natural gas distribution lines; the loss of key suppliers for materials or services or other disruptions to the supply chain; adverse impacts to our Alaska electric utility (AEL&P) that could result from an extended outage of its hydroelectric generating resources or their inability to deliver energy, due to their lack of interconnectivity to other electrical grids and the availability or cost of replacement power (diesel); changing river or reservoir regulation or operations at hydroelectric facilities not owned by us, which could impact our hydroelectric facilities downstream;
Climate Change Risk
increasing frequency and intensity of severe weather or natural disasters resulting from climate change that could disrupt energy generation, transmission and distribution, as well as the availability and costs of fuel, materials, equipment, supplies and support services; change in the use, availability or abundancy of water resources and/or rights needed for operation of our hydroelectric facilities, including impacts resulting from climate change; changes in the long-term climate and weather could materially affect, among other things, customer demand, the volume and timing of streamflows required for hydroelectric generation, costs of generation, transmission and distribution. Increased or new risks may arise from severe weather or natural disasters, including wildfires as well as their increased occurrence and intensity related to changes in climate;
Cybersecurity Risk
cyberattacks on the operating systems used in the operation of our electric generation, transmission and distribution facilities and our natural gas distribution facilities, and cyberattacks on such systems of other energy companies with which we are interconnected, which could damage or destroy facilities or systems or disrupt operations for extended periods of time and result in the incurrence of liabilities and costs; cyberattacks on the administrative systems used in the administration of our business, including customer billing and customer service, accounting, communications, compliance and other administrative functions, and cyberattacks on such systems of our vendors and other companies with which we do business, resulting in the disruption of business operations, the release of private information and the incurrence of liabilities and costs;
Technology Risk
changes in technologies, possibly making some of the current technology we utilize obsolete or introducing new cybersecurity risks and other new risks inherent in the use, by either us or our counterparties, of new technologies in the developmental stage including, without limitation, generative artificial intelligence; changes in the use, perception, or regulation of generative artificial intelligence technologies, which could limit our ability to utilize such technology, create risk of enhanced regulatory scrutiny, generate uncertainty around intellectual property ownership, licensing or use, or which could otherwise result in risk of damage to our business, reputation or financial results; changes in costs that impede our ability to implement new information technology systems or to operate and maintain current production technology; insufficient technology skills, which could lead to the inability to develop, modify or maintain our information systems;
Strategic Risk
growth or decline of our customer base due to new uses for our services or decline in existing services, including, but not limited to, the effect of the trend toward distributed generation at customer sites; the potential effects of negative publicity regarding our business practices, whether true or not, which could hurt our reputation and result in litigation or a decline in our common stock price; changes in our strategic business plans, which could be affected by any or all of the foregoing, including the entry into new businesses and/or the exit from existing businesses and the extent of our business development efforts where potential future business is uncertain; wholesale and retail competition including alternative energy sources, growth in customer-owned power resource technologies that displace utility-supplied energy or may be sold back to the utility, and alternative energy suppliers and delivery arrangements; non-regulated activities may increase earnings volatility and result in investment losses; the risk of municipalization or other forms of service territory reduction;
External Mandates Risk
changes in environmental laws, regulations, decisions and policies, including, but not limited to, regulatory responses to concerns regarding climate change, efforts to restore anadromous fish in areas currently blocked by dams, more stringent requirements related to air quality, water quality and waste management, present and potential environmental remediation costs and our compliance with these matters; the potential effects of initiatives, legislation or administrative rulemaking at the federal, state or local levels, including possible effects on our generating resources, prohibitions or restrictions on new or existing services, or restrictions on greenhouse gas emissions to mitigate concerns over climate changes, including future limitations on the usage and distribution of natural gas; restrictions or changes in government grant programs and/or availability of other public funding used for capital projects; political pressures or regulatory practices that could constrain or place additional cost burdens on our distribution systems through accelerated adoption of distributed generation or electric-powered transportation or on our energy supply sources, such as campaigns to halt fossil fuel-fired power generation and opposition to other thermal generation, wind turbines or hydroelectric facilities; failure to identify changes in legislation, taxation and regulatory issues that could be detrimental or beneficial to our overall business; policy and/or legislative changes in various regulated areas, including, but not limited to, environmental regulation, healthcare regulations and import/export regulations; increasing costs due to potential tariffs applied to energy commodities and/or equipment and materials;
Financial Risk
our ability to obtain financing through the issuance of debt and/or equity securities and access to our funds held with financial institutions, which could be affected by various factors including our credit ratings, interest rates, other capital market conditions and global economic conditions; changes in interest rates that affect borrowing costs, variable interest rate borrowing and the extent to which we recover interest costs through retail rates collected from customers; volatility in energy commodity markets that affects our ability to effectively hedge energy commodity risks, including cash flow impacts and requirements for collateral; volatility in the carbon emissions allowances market that could result in increased compliance costs; changes in actuarial assumptions, interest rates and the actual return on plan assets for our pension and other postretirement benefit plans, which could affect future funding obligations, pension and other postretirement benefit expense and the related liabilities; the outcome of legal proceedings and other contingencies; economic conditions in our service areas, including the economy's effects on customer demand for utility services; economic conditions nationally may affect the valuation of our unregulated portfolio companies; declining electricity demand related to customer energy efficiency, conservation measures and/or increased distributed generation and declining natural gas demand related to customer energy efficiency, conservation measures and/or increased electrification; industry and geographic concentrations which could increase our exposure to credit risks due to counterparties, suppliers and customers being similarly affected by changing conditions; deterioration in the creditworthiness of our customers; activist shareholders may result in additional costs and resources required in response to activist actions;
Energy Commodity Risk
volatility and illiquidity in wholesale energy markets, including exchanges, the availability of willing buyers and sellers, changes in wholesale energy prices that could affect operating income, cash requirements to purchase electricity and natural gas, value received for wholesale sales, collateral required of us by individual counterparties and/or exchanges in wholesale energy transactions and credit risk from such transactions, and the market value of derivative assets and liabilities; default or nonperformance on the part of parties from whom we purchase and/or sell capacity or energy; potential environmental regulations or lawsuits affecting our ability to utilize or resulting in the obsolescence of our power supply resources; explosions, fires, accidents, pipeline ruptures or other incidents that could limit energy supply to our facilities or our surrounding territory, which could result in a shortage of commodities in the market that could increase the cost of replacement commodities from other sources;
Compliance Risk
changes in laws, regulations, decisions and policies at the federal, state or local levels, which could impact both our electric and gas operations and costs of operations; the ability to comply with the terms of the licenses and permits for our hydroelectric or thermal generating facilities at cost-effective levels;
Resource Adequacy Risk
the ability to source and deliver adequate energy to meet customer demand in periods of high demand or unplanned events; and the potential effects of regional wholesale market strains, including during extreme weather events.
For a further discussion of these factors and other important factors, please refer to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. The forward-looking statements contained in this news release speak only as of the date hereof. We undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances that occur after the date on which such statement is made or to reflect the occurrence of unanticipated events. New risks, uncertainties and other factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on our business or the extent to which any such factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
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Curium se dohodl na převzetí Lantheus za až 114,50 USD za akcii v hotovosti, celkem až za 8,0 miliardy USD. Představenstvo Lantheus transakci jednomyslně schválilo.
Strategic transaction would bring Curium's theranostics portfolio and global manufacturing platform together with Lantheus’ complementary U.S. radiodiagnostics business Total transaction consideration to Lantheus shareholders of up to $114.50 per share in cash for an aggregate transaction value of up to $8.0 billion – representing a premium of 38% to Lantheus’ unaffected 60-day volume-weighted average price and a premium of 29% to Lantheus’ unaffected 30-day volume-weighted average price Provides for near-term certain value for Lantheus shareholders of $102.50 per share in cash at closing and up to an additional $12.00 per share of Contingent Value Rights tied to specified performance milestones for Lantheus' commercial portfolio Combined company would serve oncology, neurology and cardiology patients across more than 70 countries BOSTON and BEDFORD, Mass., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Curium™, a leading, global radiopharmaceutical company with proven expertise in the development, manufacturing and supply of radiopharmaceuticals that improve the way cancer is diagnosed and treated, and Lantheus Holdings, Inc. (“Lantheus” or “Company”) (NASDAQ: LNTH), today announced that Curium US Holdings LLC (“Curium US”) and Lantheus have entered into a definitive agreement under which Lantheus, a leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, will merge with a wholly-owned subsidiary of Curium US.
Under the terms of the definitive agreement, Curium US will acquire all of the outstanding shares of Lantheus for $102.50 per share in cash at closing, plus non-transferable Contingent Value Rights (“CVRs”) providing for up to $12.00 per share in potential additional cash payments, subject to achievement of specified commercial milestones for Lantheus’ products through 2030. The transaction represents a total per share consideration of up to $114.50 and a total transaction value of up to approximately $8.0 billion. Together, Curium and Lantheus are positioned to create a radiopharmaceutical company spanning diagnostics and therapeutics, with the infrastructure and capabilities to serve patients in more than 70 countries. The Board of Directors of Lantheus has unanimously approved the transaction.
The cash consideration provides for near-term certain value to Lantheus shareholders at closing and the CVR structure provides meaningful potential additional upside participation in the commercial performance of Lantheus’ main product lines. The total transaction value represents a premium of 38% to Lantheus’ unaffected 60-day volume-weighted average price (“VWAP”), a premium of 29% to Lantheus’ unaffected 30-day VWAP, and a premium of 21% to Lantheus’ unaffected closing price, in each case as of May 21, 2026, the last trading day prior to the first media report of a potential sale transaction.
“Lantheus is the ideal partner to accelerate what we have been building at Curium,” said Renaud Dehareng, Chief Executive Officer of Curium Group. “We have executed a strategy to build an innovative, theranostics platform by expanding our global manufacturing footprint, advancing our radioligand therapy pipeline across key regions, and positioning Curium to drive the next generation of theranostics innovation. Lantheus’ complementary business accelerates our strategy with a robust U.S. commercial infrastructure, a complementary F18-isotope based prostate diagnostics franchise and marks our entry in the U.S. market for diagnostic solutions targeting Neurology and Echocardiography. Together, we will provide meaningful theranostic options to patients from SPECT and PET diagnostics to targeted radioligand therapy across the globe. This combination unlocks an opportunity that neither company could achieve alone, as it positions us to reach significantly more patients and clinicians globally.”
“We believe this transaction is the ultimate validation of what the Lantheus team has built over seven decades of innovation in radiopharmaceuticals,” said Mary Anne Heino, Executive Chair and Chief Executive Officer of Lantheus. “Combining strategically with Curium brings together two pioneers with complementary strengths and a shared passion for nuclear medicine. Together, we can broaden and accelerate patient access to life-changing diagnostics and therapeutics and fully realize the differentiated outcomes and value radiopharmaceuticals can deliver. I am tremendously proud of everything our people have achieved, and I am confident this combination is the best path forward for our shareholders, our employees, and the millions of patients we serve.”
Curium was established in 2017 by global investment firm CapVest Partners LLP (“CapVest”) which remains its controlling shareholder and last year completed the successful recapitalization of Curium in a transaction which valued the Curium Group at approximately $7 billion. Kate Briant, Senior Partner at CapVest and Chair of Curium’s Board of Directors, said: “This transaction underlies our ongoing commitment to Curium’s growth and emphasizes our strong conviction in the potential of nuclear medicine and the future of the sector. This highly strategic combination will allow the combined company to capitalize on the significant emerging opportunities and, most importantly, will allow us to accelerate bringing life-changing solutions to healthcare professionals and benefit millions of patients (and their families) around the world.”
Curium has a proven record of developing, manufacturing, and supplying diagnostic and therapeutic radiopharmaceuticals globally with a deep manufacturing expertise, and a robust theranostics pipeline. Lantheus has pioneered the radiodiagnostics landscape in the U.S. for 70 years and has demonstrated success building and growing a commercial diagnostic business, including PYLARIFY that helped establish PSMA PET as the standard of care in prostate cancer imaging, maintaining DEFINITY’s position as a category leader in cardiac ultrasound enhancing agents for 25 years, and driving Neuraceq to become the fastest-growing beta-amyloid PET agent on the market. The combined entity will span the full nuclear medicine value chain: from isotope production and manufacturing to diagnostic imaging and targeted radionuclide therapy, delivering nuclear medicine solutions to patients and healthcare systems across more than 70 countries.
The Lantheus Board of Directors, with the assistance of its financial advisors, conducted a comprehensive evaluation of its strategic options, including outreach to multiple third parties and remaining as a standalone company. After concluding this robust process, the Board unanimously determined that this transaction is in the best interests of Lantheus and its shareholders as the value maximizing path relative to the other strategic options.
Transaction Details
Under the terms of the agreement, Curium US will acquire all of the outstanding shares of Lantheus common stock for $102.50 per share in cash at closing. In addition, Lantheus shareholders will receive up to $12.00 per share in non-transferable CVRs, entitling holders to the following additional cash payments upon achievement of applicable milestones:
FranchiseTotal Aggregate
Sales1 MilestoneCVR Payment
(in cash)Measurement PeriodGlobal Prostate Cancer
Diagnostics2> $950 million$1.00/shareFiscal year ending
December 31, 2030> $1,100 million$1.00/share> $1,200 million$2.00/share> $1,500 million$2.00/share> $1,750 million$2.00/shareGlobal Neurology
Diagnostics3> $300 million$2.00/shareAny of the three fiscal
years ending
December 31, 2028,
2029, or 2030> $350 million$1.00/shareGlobal DEFINITY®
Business4> $400 million$1.00/shareFiscal year ending
December 31, 2030 There can be no assurance that any payments will be made with respect to the CVRs. If all milestones are achieved, per share consideration under the CVRs would be $12.00 per share.
The transaction is expected to be financed through a combination of debt and equity and is not subject to any financial conditions or other related contingencies.
Until the transaction closes, Lantheus will continue to operate as an independent, publicly traded company. Upon completion, Lantheus will cease to be a publicly traded company.
The transaction is currently expected to close in the first half of 2027, subject to satisfaction of customary closing conditions, including receipt of Lantheus shareholder approval and required regulatory approvals.
Lantheus Second Quarter Financial Results
Lantheus is expected to announce its financial results and provide a business update for the second quarter of 2026 prior to market open on August 6, 2026. Due to the pending transaction with Curium, Lantheus will not be hosting a conference call and will be suspending its previously issued FY 2026 guidance.
Advisors
Morgan Stanley & Co. LLC acted as lead financial advisor to Lantheus, and BofA Securities, Inc. and Solomon Partners Securities LLC also acted as financial advisors to Lantheus. Covington & Burling LLP and Ropes & Gray LLP acted as legal counsel to Lantheus.
Jefferies LLC acted as lead financial advisor to Curium. J.P. Morgan Securities LLC and PJT Partners LP also acted as financial advisors to Curium. Kirkland & Ellis LLP and Arnold & Porter Kaye Scholer LLP acted as legal counsel to Curium.
About Curium
Curium is a leading global radiopharmaceutical company with proven expertise in the development, manufacturing and supply of radiopharmaceuticals that transform the way cancer is diagnosed and treated. Headquartered in Boston with offices around the world, Curium’s mission is to find new and better ways to diagnose and treat cancer.
With a global footprint that extends to more than 70 countries, a skilled and dedicated team of over 3,800 employees, and more than 80 manufacturing sites globally, Curium is highly qualified to meet the significant supply and distribution of established products that underlie success in the radiopharmaceuticals market. Curium’s global leadership is embodied in a diverse and extensive portfolio of over 45 products that advance patient care for a wide range of cancers.
Curium’s pioneering legacy in nuclear medicine is the foundation of the company’s dedication to innovation and portfolio expansion to cancer therapeutics, particularly in neuroendocrine tumors and with a late-stage pipeline exploring opportunities in prostate cancer.
To learn more, visit www.curiumpharma.com.
About Lantheus
Lantheus is a leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Headquartered in Massachusetts with offices in New Jersey, Canada, Germany, Sweden, Switzerland and the United Kingdom, Lantheus has been providing radiopharmaceutical solutions for 70 years. For more information, visit www.Lantheus.com.
About CapVest
CapVest is a leading international private equity investor with offices in New York, London and Dublin that partners with ambitious companies supplying essential goods and services to transform their businesses. As an active and patient investor, CapVest has established a strong record of success spanning close to 30 years in delivering attractive returns by working closely with management in transforming the size and scale of its portfolio companies through a combination of organic and acquisition-led growth.
With $20 billion of Assets Under Management, CapVest seeks to invest in highly resilient industries where the demand driver for the product or service is non-discretionary. Its core sectors include healthcare, which currently represents approximately 50% of its investment portfolio, consumer staples and essential services.
Additional Information and Where to Find It
In connection with the proposed acquisition of Lantheus Holdings, Inc. (the “Company”) by Curium US (“Parent”), the Company intends to file a preliminary and definitive proxy statement. The definitive proxy statement and proxy card will be delivered to the stockholders of the Company in advance of the special meeting relating to the proposed acquisition. This document is not a substitute for the proxy statement or any other document that may be filed by the Company with the Securities and Exchange Commission (the “SEC”). THE COMPANY’S STOCKHOLDERS AND INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF PARENT AND THE COMPANY WITH THE SEC IN CONNECTION WITH THE PROPOSED ACQUISITION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED ACQUISITION AND THE PARTIES TO THE PROPOSED ACQUISITION. Investors and security holders will be able to obtain a free copy of the proxy statement and such other documents containing important information about the Company and Parent, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. The Company makes available free of charge at its website at https://investor.lantheus.com/ copies of materials it files with, or furnishes to, the SEC.
Participants in the Solicitation
The Company, Parent and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed acquisition. Information regarding the Company’s directors and executive officers is contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 26, 2026, and its definitive proxy statement for the 2026 annual meeting of its stockholders, which was filed with the SEC on March 20, 2026. To the extent holdings of the Company’s securities by its directors or executive officers have changed since the amounts set forth in such 2026 proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership of Securities on Form 4 filed with the SEC. Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement relating to the proposed acquisition when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the Company’s website at https://investor.lantheus.com/. The contents of the websites referenced herein are not deemed to be incorporated by reference into the proxy statement.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their use of terms such as “advance,” “believe,” “continue,” “could,” “driving,” “expect,” “guidance,” “maintain,” “may,” “on track,” “plan,” “potential,” “predict,” “progress,” “should,” “target,” “will,” “would” and other similar terms. Such forward-looking statements include the ability of Parent and the Company to complete the transactions contemplated by the merger agreement, including the parties’ ability to satisfy the conditions to the consummation of the transactions contemplated thereby; statements about the expected timetable for completing the proposed acquisition of the Company by Parent; the Company’s and Parent’s beliefs and expectations and statements about the benefits sought to be achieved by the proposed acquisition; the potential effects of the proposed acquisition on the Company and Parent; the possibility of any termination of the merger agreement; and the expected benefits and success of the Company’s plans to execute on the commercialization of marketed products, ensure launch readiness for new products, advance a focused late-stage pipeline, and allocate capital thoughtfully, as well as the Company’s focus mainly on its radiodiagnostic business and pursuing value-maximizing alternatives for its radiotherapeutic assets. These statements are based upon the current plans, estimates and expectations of the Company’s management that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may materially differ from those described in the forward-looking statements.
Risks and uncertainties include, but are not limited to, uncertainties as to the timing of the proposed acquisition; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the proposed acquisition contained in the merger agreement (including the requisite vote by the Company’s stockholders and receipt of regulatory approvals) may not be satisfied or waived on the expected timetable, or at all; uncertainty as to whether the milestones (“Milestones”) associated with the contingent value rights (“CVRs”) will be achieved and that holders of CVRs will receive payments in respect thereof; the effects of disruption from the transactions contemplated by the merger agreement and the impact of the announcement and pendency of the proposed acquisition on the Company’s business, including the response of the Company’s suppliers, business partners, employees and competitors to the proposed acquisition; the diversion of management time and attention from ongoing business operations and opportunities; disruption in or limitations on the Company’s plans and operations attributable to the proposed acquisition; changes in the Company’s business during the period between announcement and closing of the proposed acquisition; the effects of the proposed acquisition (or the announcement thereof) on the Company’s share price; the risk that stockholder litigation in connection with the proposed acquisition may result in significant costs of defense, indemnification and liability; Parent’s ability to obtain financing to complete the proposed acquisition; Parent’s ability to successfully integrate the Company and execute on the continued development and commercialization of the Company’s programs following the closing of the proposed acquisition, which could affect Parent’s ability to achieve any of the Milestones and trigger payments related to the Milestones under the CVRs; the continued market expansion, penetration and reimbursement for the Company’s established commercial products, particularly PYLARIFY, DEFINITY and Neuraceq, in a competitive environment and the Company’s ability to clinically and commercially differentiate its products; the Company’s ability to complete the technology transfer across its PET manufacturing facilities (“PMF”) network for PYLARIFY TruVu, the new formulation of the Company’s F-18 prostate-specific membrane antigen PET imaging agent approved by the U.S. Food and Drug Administration (“FDA”) on March 6, 2026, to obtain FDA approval for each PMF to manufacture PYLARIFY TruVu, to obtain adequate coding, coverage and payment, including transitional pass-through payment status, for PYLARIFY TruVu and to have customers adopt PYLARIFY TruVu; the availability of raw materials, key components, equipment, manufacturing time slots, either used in the production of the Company’s products and product candidates, or by customers of its products and product candidates, including, but not limited to PET scanners for PYLARIFY, PYLARIFY TruVu, Neuraceq, MK-6240, LNTH-2501 and NAV-4694; the Company’s ability to have third parties manufacture its products and product candidates and its ability to manufacture DEFINITY in its in-house manufacturing facility, in amounts and at the times needed; the Company’s ability to satisfy its obligations under its existing clinical development partnerships using Neuraceq, MK-6240 or NAV-4694 and other assets as a research tool and under the license agreements through which it has rights to those assets, and to further develop and commercialize MK-6240 and NAV-4694 as approved products; the Company’s ability to continue to successfully integrate acquisitions, including of Lantheus Biosciences Ltd. (formerly Life Molecular Imaging Limited) and Evergreen Theragnostics, Inc., which could be impacted by unforeseen expenses related to integration activities, the potential for unforeseen liabilities within those businesses, the ability to integrate disparate information technology systems, retain key talent and create a merged corporate culture that successfully realizes the full potential of the combined organization; the Company’s ability to obtain FDA approval for LNTH-2501, its investigational kit for the preparation of Gallium-68 edotreotide injection, which has been studied for use in conjunction with a PET scan to stage and localize neuroendocrine tumors in adult and pediatric patients and to successfully commercialize LNTH-2501 if approved; the Company’s ability to obtain final FDA approval for PNT2003, which received FDA tentative approval in March 2026, to be successful in the patent litigation associated with PNT2003 and to successfully commercialize PNT2003 if approved; the cost, efforts and timing for clinical development, manufacturing, regulatory approval, adequate coding, coverage and payment and successful commercialization of the Company’s newly approved products, product candidates and new clinical applications and territories for its products, in each case, that the Company or its strategic partners may undertake, including those investigational assets for which FDA approval has been obtained or is anticipated to be obtained this year; the Company’s ability to identify opportunities to collaborate with strategic partners and to acquire or in-license additional diagnostic and therapeutic product opportunities in oncology, neurology and other strategic areas and continue to grow and advance its pipeline of products; the effect that changes to management, including the recent turnover in the Company’s leadership and senior management team, could have on its business; and the risks and uncertainties discussed in the Company’s filings with the SEC (including those described in the “Risk Factors” section in its Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q).
The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
No Offer or Solicitation
This communication is for informational purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
Contacts:
Curium
Camilla Campbell
VP, Head of Global Communications [email protected]
Lantheus
Mark Kinarney
Vice President, Investor Relations
978-671-8842 [email protected]
1Refers to “Aggregate Adjusted Sales” which consists of, for a given period, the sum of (a) the total gross amounts accrued or recognized during such period by or on behalf of any selling entity (as defined in the form of CVR Agreement) in respect of sales of product (including any associated freight, services and other revenue), and net only of discounts, credits, rebates and allowances (which, for the avoidance of doubt, do not include any reductions for any internal or external sales commissions) (other than clinical collaboration revenue), (b) royalties accrued or recognized by or on behalf of any selling entity, (c) sublicense income accrued or recognized by or on behalf of any selling entity, (d) clinical collaboration revenue accrued or recognized by or on behalf of any selling entity and (e) DEFINITY kit revenue (as defined in the CVR agreement) accrued or recognized by or on behalf of any selling entity, in each case of (a) through (e), net of sales tax, VAT, pharmaceutical or similar taxes, in each case, as more fully set forth in the form of CVR Agreement.
2“Global Prostate Cancer Diagnostics” consists of PYLARIFY, PYLARIFY TruVu,and LNTH-2401; any radiodiagnostic containing piflufolastat or RM2; and any future PSMA-targeted radiodiagnostic derived from any of the foregoing.
3“Global Neurology Diagnostics” consists of Neuraceq, MK-6240, NAV-4694, LNTH-2620; any radiodiagnostic containing florbetaben, florquinitau, flutafuranol, or PI-2620; and any future radiodiagnostic derived from any of the foregoing.
4“Global DEFINITY Business” consists of DEFINITY and microbubble technology products containing perflutren; and any future microbubble technology products derived from any of the foregoing.
EXL dokončila akvizici iMerit a vytvořila end-to-end platformu AI pro firmy. Radha Ramaswami Basu se zároveň připojuje k výkonnému výboru EXL jako výkonná viceprezidentka a vedoucí iMerit.
iMerit founder and CEO Radha Ramaswami Basu joins EXL executive committee August 03, 2026 08:03 ET | Source: EXL
NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, announced it has completed the acquisition of iMerit, a recognized leader in AI model training, evaluation and reinforcement learning. Together, EXL’s enterprise data and AI leadership and iMerit’s capabilities and foundation model relationships will help clients build AI systems that are trusted, accountable and built to perform in the enterprise.
The completion of the acquisition establishes an end-to-end AI platform for enterprises, uniting EXL’s deep data, context and AI expertise with iMerit's technology, expert-led solutions and generative AI experience helping them accelerate the transition from pilot to production-scale AI.
As part of the transaction, iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company’s executive committee.
“This acquisition is a transformational pivot for EXL, deepening our vertically specialized AI capabilities and expanding our reach into high-growth AI technology sectors,” said Rohit Kapoor, chairman and chief executive officer of EXL. “By combining iMerit’s capabilities with EXL’s domain expertise and AI platforms, we are well positioned to help clients build, fine-tune and operationalize AI that performs reliably in production. This is especially critical in regulated industries where domain knowledge, context and compliance are non-negotiable. I am delighted to welcome Radha to EXL's executive committee; her vision, leadership, and deep expertise at the intersection of human intelligence and AI will help shape the next chapter of EXL's growth and innovation.”
“The next generation of enterprise AI will be defined not by the models organizations choose, but by how effectively they can deploy them in real-world business environments,” said Basu. “What excites me most about joining EXL is the opportunity to combine iMerit’s pioneering work in AI data, evaluation and human intelligence with EXL’s extraordinary depth in data, AI and enterprise transformation. Together, we can help clients bridge the gap between innovation and execution, turning AI potential into measurable business results. I am energized by what lies ahead and honored to join EXL’s executive committee as we help clients unlock the full value in enterprise AI integration.”
With iMerit now part of EXL, the combination extends the data and AI-led strategy EXL has been executing on for several years.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
About iMerit
iMerit is a leader in AI fine tuning, evaluation, and reinforcement learning. iMerit helps frontier AI labs and enterprises build more accurate, reliable, and domain-aware models. iMerit delivers high-quality data across industries such as high-tech, autonomous mobility, healthcare AI, and robotics. Scholars, its global network of specialists, includes physicians, scientists, engineers, linguists, and other subject matter experts who power high-quality data creation, reasoning evaluation, model alignment, and human feedback workflows for next-generation AI systems. Its proprietary Ango Hub platform allows customers and experts to collaborate on complex multimodal data to generate highly curated and validated training artifacts for high-stakes models. Learn more at imerit.ai.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
BCB Bancorp ve 2. čtvrtletí vykázala čistou ztrátu 14,8 mil. USD, hlavně kvůli tvorbě opravných položek na úvěry ve výši 19,0 mil. USD a odpisu goodwillu ve výši 5,3 mil. USD. Představenstvo zároveň schválilo přesun sídla do Delaware, čeká se na souhlas akcionářů.
BAYONNE, N.J., Aug. 03, 2026 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported a net loss of $14.8 million for the second quarter of 2026, compared to net income of $4.9 million in the first quarter of 2026, and net income of $3.6 million for the second quarter of 2025. The Company’s loss per diluted share for the second quarter was ($0.85) compared to earnings per diluted share of $0.26 in the preceding quarter and $0.18 in the second quarter of 2025. The Company’s reported net loss for the six months ended June 30, 2026 was $9.9 million, compared to a net loss of $4.8 million for the six months ended June 30, 2025. The Company’s loss per diluted share for the six months ended June 30, 2026 was ($0.60) compared to a loss per diluted share of ($0.33) for the six months ended June 30, 2025.
Executive Summary
Total deposits were $2.636 billion at June 30, 2026, compared to $2.672 billion at March 31, 2026.Net interest margin was 3.03 percent for the second quarter of 2026, compared to 2.95 percent for the first quarter of 2026, and 2.80 percent for the second quarter of 2025. Total yield on interest-earning assets was 5.25 percent for the second quarter of 2026, compared to 5.21 percent for the first quarter of 2026, and 5.24 percent for the second quarter of 2025. Total cost of interest-bearing liabilities decreased 6 basis points to 2.87 percent for the second quarter of 2026, compared to 2.93 percent for the first quarter of 2026, and decreased 29 basis points from 3.16 percent for the second quarter of 2025.The efficiency ratio for the second quarter was 96.8 percent compared to 62.4 percent in the prior quarter, and 60.6 percent in the second quarter of 2025.The annualized return on average assets ratio for the second quarter was (1.83) percent, compared to 0.61 percent in the prior quarter, and 0.42 percent in the second quarter of 2025.The annualized return on average equity ratio for the second quarter was (19.22) percent, compared to 6.50 percent in the prior quarter, and 4.55 percent in the second quarter of 2025.The provision for credit losses was $19.0 million in the second quarter of 2026 compared to $2.8 million for the first quarter of 2026. In the second quarter of 2025, the Bank recorded a provision of $4.9 million.Total criticized and classified loans was $367.4 million in the second quarter compared to $403.0 million at March 31, 2026.The allowance for credit losses on loans as a percentage of non-accrual loans was 62.5 percent at June 30, 2026, compared to 54.5 percent for the prior quarter-end and 49.8 percent at June 30, 2025. Total non-accrual loans were $72.0 million at June 30, 2026, $59.8 million at March 31, 2026 and $101.8 million at June 30, 2025.Total loans receivable, net of the allowance for credit losses on loans, of $2.588 billion at June 30, 2026, decreased from $2.860 billion at June 30, 2025.
The net loss for the second quarter of 2026 was primarily driven by a $19.0 million provision for credit losses on loans, a $5.3 million non-cash goodwill impairment charge, and a $2.6 million loss on a loan transferred to held-for-sale. The elevated provision reflects additional reserves established for the Business Express loan portfolio and other portions of the Commercial and Industrial (“C&I”) loan portfolio, which has continued to experience elevated net charge-offs. Management determined that a higher reserve level was prudent given the portfolio’s performance trends, taking into account the early results of a recently commenced evaluation of the Bank’s loan portfolio focusing on potential problem loans. The goodwill impairment charge resulted from an interim quantitative impairment assessment triggered by the Company’s significant quarterly loss and the continued trading of its stock at a substantial discount to book value. The non-cash charge fully impaired the goodwill recorded on its balance sheet. The loss on the loan transferred to held-for-sale is consistent with management’s overall balance sheet evaluation strategy and relates to a non-accrual construction loan expected to be sold during the third quarter.
“We are actively conducting a comprehensive review of the Bank’s loan portfolio with the assistance of independent consultants as part of our broader effort to strengthen the balance sheet and position the franchise for long-term success. It is too early in our evaluation to assess whether and to what extent additional loans, not captured in the second quarter results, may be impacted. While we remain focused on delivering sustainable operating performance, our immediate priority is to maintain disciplined balance sheet management and long-term value creation. As our evaluation continues in the third quarter, we will fully explore various alternatives to strengthen the credits or exit the relationships, which may include workouts and loan restructurings, such as potentially seeking additional collateral, interest rate adjustments, as well as select loan sales. In addition, the Bank has ceased originating residential mortgage, home equity, and consumer loans, as we believe the current risk-adjusted returns in these categories are not sufficiently attractive. At June 30, 2026, our capital remains above well capitalized. To help preserve capital at the bank and liquidity at the holding company, the board of directors agreed to suspend both common and preferred dividends at their June meeting. We have taken these steps that are focused on capital preservation to support our balance sheet strengthening initiatives and reinforce our commitment to building a safer, stronger, and more resilient institution.” said Tom O’Brien, President and Chief Executive Officer of the Company and the Bank.
Reincorporation in Delaware
The Company also announced today that the board has decided to change its state of incorporation to Delaware, and to end the current staggered board terms in favor of annual director elections. Mr. O’Brien noted: “the change to Delaware will align us with the vast majority of public companies and allows for updated governance provisions that will help place our company in line with prevailing public company governance practices. Later this quarter, we will call a special meeting of shareholders to be held late this year. The purpose of the meeting will be to seek shareholder approval to reincorporate in Delaware. The full presentation of these governance changes will be provided in a proxy statement in connection with the special meeting.”
Balance Sheet Review
Total assets decreased by $161.3 million, or 4.9 percent, to $3.118 billion at June 30, 2026, from $3.279 billion at December 31, 2025. The decrease in total assets was mainly related to a decrease in net loans and cash and cash equivalents, offset by an increase in debt securities.
Total cash and cash equivalents decreased by $79.7 million, or 28.8 percent, to $196.9 million at June 30, 2026, from $276.6 million at December 31, 2025. The decrease in cash was primarily due to the reduction of the Bank’s exposure to wholesale funding by paying down high cost brokered deposits and FHLB advances.
Loans receivable, net, decreased by $103.1 million, or 3.8 percent, to $2.588 billion at June 30, 2026, from $2.691 billion at December 31, 2025, due to loan payoffs, paydowns and charge-offs. Total loan decreases during the period included decreases of $35.2 million in construction loans, $30.9 million in commercial and multi-family loans, $10.9 million in commercial business loans, $5.9 million in business express loans, and $8.0 million in 1-4 family residential loans, and $679,000 in cannabis, home equity and consumer loans.
The allowance for credit losses on loans increased $11.3 million to $45.0 million, or 62.5 percent of non-accruing loans and 1.71 percent of gross loans, at June 30, 2026, as compared to an allowance for credit losses on loans of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.
Total investment securities increased by $16.7 million, or 12.3 percent, to $152.3 million at June 30, 2026, from $135.6 million at December 31, 2025, representing current year purchases, offset by current year sales.
Deposits decreased by $37.6 million, or 1.4 percent, to $2.636 billion at June 30, 2026, from $2.674 billion at December 31, 2025. Certificates of deposit accounts and savings accounts decreased $45.2 million and $13.1 million, respectively, and were offset by an increase in money market accounts of $20.8 million. Brokered deposits declined by $28.6 million from $80.5 million at December 31, 2025 to $51.9 million at June 30, 2026.
Debt obligations decreased by $109.9 million to $168.3 million at June 30, 2026, from $278.2 million at December 31, 2025, due to maturities and paydowns of FHLB advances. The weighted average interest rate of FHLB advances was 4.88 percent at June 30, 2026, and 4.53 percent at December 31, 2025. The weighted average maturity of FHLB advances as of June 30, 2026, was less than ninety days. The interest rate of the Company’s subordinated debt balances was 9.25 percent at June 30, 2026, and at December 31, 2025.
Stockholders’ equity decreased by $12.4 million, or 4.1 percent, to $291.9 million at June 30, 2026, from $304.3 million at December 31, 2025. The decrease was attributable to the decrease in retained earnings of $13.2 million, or 11.3 percent, to $103.2 million at June 30, 2026, from $116.4 million at December 31, 2025, caused largely by the $9.9 million loss in the first six months of 2026.
Asset Quality
The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 2026, as compared to $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, and $63.3 million, or 2.32 percent of gross loans at December 31, 2025. The Bank had total past due loans totaling $122.8 million, or 4.66 percent of gross loans, at June 30, 2026, as compared to $107.9 million, or 4.01 percent of gross loans, at March 31, 2026, and $99.1 million, or 3.64 percent of gross loans, at December 31, 2025. The Bank had total classified and criticized loans totaling $367.4 million, or 13.94 percent of gross loans, at June 30, 2026, as compared to $403.0 million, or 14.98 percent of gross loans, at March 31, 2026, and $360.0 million, or 13.19 percent of gross loans, at December 31, 2025.
The allowance for credit losses on loans of $45.0 million, as of June 30, 2026, increased by $12.4 million, or 38.1 percent, compared to March 31, 2026, and increased by $11.3 million, or 33.5 percent, compared to December 31, 2025. The $12.4 million increase compared to March 31, 2026 was driven by a $19.0 million increase in provision expense that was partially offset by $6.6 million in loan charge-offs. The increases in provision expenses and charge-offs compared to both periods were primarily attributed to the C&I portfolio that has continued to experience elevated net charge-offs. The C&I portfolio generated net charge-offs of $824 thousand in the first quarter, increasing to $5.8 million in the second quarter. In addition, the Bank determined that a full recovery is no longer expected on a previously charged-off $6.3 million C&I relationship. Reflecting these developments and broader credit trends observed within the C&I portfolio, management separately evaluated the portfolio under its qualitative reserve framework during the second quarter, resulting in a $10.8 million increase to the allowance established for the portfolio.
During the second quarter, the Bank transferred one loan on nonaccrual status to held-for-sale, which was written down to fair market value resulting in a loss of $2.6 million reflected in non-interest income under the line item for net loss on the sale of loans. The remaining carrying value of the loan is $10.8 million. Loans held-for-sale are not included in past due loans or classified loans.
The allowance for credit losses was 62.5 percent of non-accrual loans at June 30, 2026, compared to 54.5 percent of non-accrual loans at March 31, 2026, and 53.3 percent of non-accrual loans at December 31, 2025, respectively.
Mr. O’Brien noted that, “since June 1, 2026, we have been engaged on a comprehensive re-evaluation of the company’s credit portfolios with the assistance of independent consultants. Their initial feedback has been reflected in the loan loss reserving decisions made during the second quarter and we are working toward completion of that review by the end of the third quarter. With respect to the much larger commercial real estate portfolio, we are in the early stages of our analysis. Given the absolute size and complexity of these portfolios, this remains a work in progress.”
Second Quarter 2026 Income Statement Review
The Company reported a net loss of $14.8 million for the quarter ended June 30, 2026, compared to net income of $3.6 million for the quarter ended June 30, 2025. This decline was primarily due to a $14.1 million increase in loan loss provisioning, a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on the sale of loans and a $1.7 million increase in salaries and employee benefits. This was offset by a decrease in tax provision of $4.9 million.
Interest income decreased by $2.7 million, or 6.3 percent, to $40.5 million for the second quarter of 2026 from $43.2 million for the second quarter of 2025. The average balance of interest-earning assets decreased $215.5 million, or 6.5 percent, to $3.092 billion for the second quarter of 2026 from $3.307 billion for the second quarter of 2025. The average yield increased 1 basis point to 5.25 percent for the second quarter of 2026 from 5.24 percent for the second quarter of 2025.
Interest expense decreased by $3.0 million to $17.1 million for the second quarter of 2026 from $20.1 million for the second quarter of 2025. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 29 basis points to 2.87 percent for the second quarter of 2026 from 3.16 percent for the second quarter of 2025, while the average balance of interest-bearing liabilities decreased by $156.0 million to $2.393 billion for the second quarter of 2026 from $2.549 billion for the second quarter of 2025.
The net interest margin was 3.03 percent for the second quarter of 2026 compared to 2.80 percent for the second quarter of 2025. The increase in the net interest margin compared to the second quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities.
The provision for credit losses was $19.0 million for the second quarter of 2026 compared to $4.9 million for the second quarter of 2025. The increase was primarily driven by higher reserve requirements within the C&I loan portfolio, as further described under Asset Quality. During the second quarter of 2026, the Company recognized $6.6 million in net charge-offs compared to $5.7 million in net charge-offs in the second quarter of 2025. The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 2026, as compared to $63.3 million, or 2.32 percent of gross loans, at December 31, 2025. The allowance for credit losses on loans was $45.0 million, or 1.71 percent of gross loans, at June 30, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. Management believes the allowance for credit losses on loans was adequate at June 30, 2026 and December 31, 2025.
Non-interest income decreased by $2.5 million to a loss of $470 thousand for the second quarter of 2026, compared to income of $2.1 million for the second quarter of 2025. The decrease in total non-interest income was primarily attributable to a $2.6 million loss on the sale of loans, compared to no such loss in the prior year period, and a $108 thousand increase in mark-to-market losses on investment securities, partially offset by a $131 thousand increase in Bank Owned Life Insurance (“BOLI”) income.
Non-interest expense increased by $6.9 million, or 45.0 percent, to $22.1 million for the second quarter of 2026 compared to $15.3 million for the second quarter of 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge, a $1.7 million increase in salaries and benefits expense, which included $814 thousand severance costs, and a $273 thousand increase in advertising and promotion expense. Partially offsetting these increases was a $205 thousand decrease in professional fees.
The income tax provision decreased by $4.9 million, to an income tax benefit of $3.5 million for the second quarter of 2026 when compared to a $1.5 million provision for the second quarter of 2025.
Year-to-Date Income Statement Review
Net income decreased by $5.1 million to a net loss of $9.9 million for the first six months of 2026, compared to a net loss of $4.8 million for the first six months of 2025. The increased net loss was primarily attributable to a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on the sale of loans and a $2.6 million increase in salaries and employee benefits.
Net interest income increased $1.1 million for the first six months of 2026, as interest expense decreased by $7.6 million, or 17.9 percent, to $34.7 million from $42.3 million for the first six months of 2025 and interest income decreased $6.5 million, from $87.4 million to $80.9 million for the same period. The average balance of interest-earning assets decreased $257.1 million, or 7.6 percent, to $3.118 billion from $3.375 billion, while the average yield on interest-earning assets increased 1 basis point to 5.23 percent from 5.22 percent. The decline in average interest-earning assets was primarily due to a $279.5 million decrease in average loans, partially offset by a $19.2 million increase in average investment securities. The decrease in interest expense was driven by declines in interest expense on borrowings and deposits of $4.0 million and $3.6 million, respectively. Average borrowings decreased $201.4 million, while the average rate paid on borrowings increased by 70 basis points to 5.56 percent. Average deposits declined $10.1 million and the average rate paid on deposits declined 32 basis points to 2.59 percent.
Net interest margin was 2.99 percent for the first six months of 2026, compared to 2.70 percent for the first six months of 2025. The increase in the net interest margin compared to the prior period was the result of a decrease in the cost of the Company’s interest-bearing liabilities, by 35 basis points to 2.90 percent and an increase in the rate earned on earning assets, by 1 basis point to 5.23 percent.
The provision for credit losses decreased by $4.0 million to $21.8 million for the first six months of 2026 from $25.7 million for the same period in 2025. The elevated provision in the prior-year period reflected a previously disclosed $13.7 million specific reserve related to a $34.2 million cannabis-sector lending relationship. The 2026 provision was primarily driven by increased reserve requirements within the C&I loan portfolio, as further described under Asset Quality. During the first six months of 2026, the Company experienced $10.5 million in net charge-offs compared to $9.9 million in net charge-offs for the same period in 2025.
Non-interest income decreased by $2.2 million to $1.6 million for the first six months of 2026, compared to $3.9 million for the same period in 2025. The decrease was primarily attributable to a $2.6 million loss on the sale of loans in 2026, compared to no such loss in the prior year period. Partially offsetting this was a $469 thousand increase in income from Bank Owned Life Insurance (“BOLI”).
Non-interest expense increased by $7.8 million, or 25.9 percent, to $37.7 million for the first six months of 2026 from $29.9 million for the same period in 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge and a $2.6 million increase in salaries and employee benefits expense, which included $814 thousand severance costs recognized during the second quarter. Advertising expenses and OREO expenses increased $294 thousand and $280 thousand, respectively. Partially offsetting these increases were decreases in professional fees, director fees and regulatory assessments of $270 thousand, $241 thousand and $98 thousand, respectively.
The income tax benefit decreased by $157 thousand or 8.1 percent, to an income tax benefit of $1.8 million for the first six months of 2026 when compared to a $1.9 million income tax benefit for the same period in 2025. While the pretax loss increased to $11.6 million from $6.7 million in the prior period, the income tax credit declined primarily because the $5.3 million non-cash goodwill impairment charge recognized in 2026 is not deductible for income tax purposes and therefore did not generate a corresponding tax benefit.
Investor Conference Call
Management will host a conference call on Monday, August 3, 2026 at 8:45 a.m. Eastern Time to discuss the results.
Interested investors are invited to dial 1-800-715-9871 using conference ID 3209751 to participate in the call.
A replay of the call will be available at https://investorrelations.bcbcommunitybank.com/corporate-information/corporate-profile/default.aspx.
About BCB Bancorp, Inc.
Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has twenty-two branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and four branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.
Forward-Looking Statements
This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.
The most significant factors that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of global tariffs imposed by the Trump administration, higher inflation levels, and general economic and recessionary concerns, all of which could impact economic growth and could cause increased loan delinquencies, a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations. Other factors that could cause future results to vary materially from current management expectations as reflected in our forward-looking statements include, but are not limited to: our ability to manage liquidity and capital in a rapidly changing and unpredictable market, supply chain disruptions, labor shortages, the global impact of the military conflicts in the Ukraine and the Middle East; unfavorable economic conditions in the United States generally and particularly in our primary market area; the Company’s ability to effectively attract and deploy deposits; changes in the Company’s corporate strategies, the composition of its assets, or the way in which it funds those assets; shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility; the effects of declines in real estate values that may adversely impact the collateral underlying our loans; increase in unemployment levels and slowdowns in economic growth; our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs; the results of the recently commenced and ongoing review of our loan portfolios; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios; the credit risk associated with our loan portfolio; changes in the quality and composition of the Bank’s loan and investment portfolios; changes in our ability to access cost-effective funding; deposit flows; legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates; monetary and fiscal policies of the federal and state governments; changes in tax policies, rates and regulations of federal, state and local tax authorities; demands for our loan products; demand for financial services; competition; changes in the securities or secondary mortgage markets; changes in management’s business strategies; changes in consumer spending; our ability to hire and retain key employees; the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, or regulatory risk; expanding regulatory requirements which could adversely affect operating results; civil unrest in the communities that we serve; and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K filed for the year ended December 31, 2024, and our other periodic reports that we file with the SEC.
Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
Explanation of Non-GAAP Financial Measures
Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This press release also contains certain supplemental Non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s financial results for the periods in question.
The Company provides measurements and ratios based on tangible stockholders’ equity and efficiency ratios. These measures are utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors. For a reconciliation of GAAP to Non-GAAP financial measures included in this press release, see “Reconciliation of GAAP to Non-GAAP Financial Measures” below.
First National Bank of Mount Dora Trust Investment Services v 1. čtvrtletí nově koupila 134 736 akcií Boston Scientific za zhruba 8,455 milionu USD. Podíl tvoří 1,8 % portfolia a je 21. největší pozicí.
First National Bank of Mount Dora Trust Investment Services purchased a new stake in Boston Scientific Corporation (NYSE:BSX – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 134,736 shares of the medical equipment provider’s stock, valued at approximately $8,455,000. Boston Scientific makes up approximately 1.8% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 21st largest holding.
Other hedge funds have also bought and sold shares of the company. FWL Investment Management LLC bought a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Swiss RE Ltd. bought a new position in shares of Boston Scientific during the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Boston Scientific in the first quarter valued at approximately $28,000. Finally, Sfam LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $29,000. 89.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets A number of equities research analysts recently issued reports on BSX shares. Mizuho reduced their price target on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Oppenheimer cut their target price on Boston Scientific from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Evercore set a $65.00 price objective on shares of Boston Scientific in a research note on Monday, July 6th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group reduced their target price on Boston Scientific from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday. Twenty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.62.
Get Our Latest Stock Report on BSX
Trending Headlines about Boston Scientific Here are the key news stories impacting Boston Scientific this week:
Positive Sentiment: Boston Scientific reported second-quarter adjusted earnings of $0.86 per share and revenue of $5.44 billion, exceeding consensus estimates of $0.83 and $5.38 billion, respectively. Revenue increased 7.5% year over year, while management highlighted approximately 7% organic sales growth and a 15% increase in adjusted EPS. Boston Scientific Q2 earnings call highlights Positive Sentiment: Management’s multiyear restructuring plan is intended to improve efficiency and generate roughly $500 million in savings, supporting longer-term margins despite restructuring costs of up to $800 million. Reported workforce reductions are expected to affect operations in Ireland and Costa Rica. Boston Scientific restructuring cuts Positive Sentiment: Penumbra reported second-quarter revenue of $390.0 million, up 14.9% year over year, with thrombectomy revenue rising 12.5% and embolization and access revenue increasing 20.0%. The results provide supportive operating momentum for Boston Scientific’s pending acquisition of Penumbra, although PEN will not issue full-year guidance during the transaction. Penumbra second-quarter financial results Neutral Sentiment: Analyst sentiment remains broadly constructive but more cautious: UBS reaffirmed a Buy rating with a $74 target, while TD Cowen and Truist maintained Buy ratings despite lowering targets to $56 and $57. Argus reiterated a Hold rating, and BTIG reduced its expectations. Negative Sentiment: Boston Scientific lowered its full-year outlook because of headwinds affecting its electrophysiology and WATCHMAN portfolios. Analysts also cited a reset in expectations for these businesses, limiting the near-term upside from the earnings beat. Boston Scientific lowered full-year guidance Negative Sentiment: A recall involving the Rapid Refill Continuous Injection System adds a product and execution risk, while the restructuring will create near-term charges before expected savings are realized. Boston Scientific earnings, recall and restructuring Boston Scientific Stock Up 0.0% Shares of NYSE:BSX opened at $46.75 on Monday. The company has a fifty day moving average of $46.13 and a 200-day moving average of $62.02. The company has a market capitalization of $69.48 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. Boston Scientific had a return on equity of 19.36% and a net margin of 17.50%.Boston Scientific’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Boston Scientific has set its Q3 2026 guidance at 0.800-0.820 EPS and its FY 2026 guidance at 3.280-3.320 EPS. On average, equities analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.
Boston Scientific declared that its board has initiated a stock buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Boston Scientific In other news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward J. Ludwig purchased 3,580 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the acquisition, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 9,800 shares of company stock worth $554,012. 0.34% of the stock is currently owned by insiders.
Boston Scientific Profile (Free Report)
Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.
Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.
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~ Transaction to Advance Integer’s Innovation and Growth in Support of Customers and Patients ~
PLANO, Texas and NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the “Company”), a leading global medical device contract development and manufacturing organization (CDMO), and KKR, a leading global investment firm, today announced that they have entered into a definitive agreement under which an affiliate of investment funds managed by KKR will acquire all of the outstanding shares of Integer in an all-cash transaction valued at an enterprise value of approximately $5.7 billion.
Under the terms of the agreement, Integer stockholders will receive $127 per share, representing a premium of approximately 51.8% to Integer’s closing share price on April 29, 2026, the date prior to the Company’s announcement of a strategic review, and 28.8% to the 30-day VWAP as of July 31, 2026.
“This is an exciting milestone for Integer and a testament to the dedication and commitment of our talented team and the exceptional business we have built together,” said Payman Khales, Integer’s President and CEO. “We believe this transaction recognizes the strength of Integer’s business, which includes our dedicated associates, our differentiated engineering and manufacturing capabilities, and our long-term growth opportunities, while providing stockholders with immediate and certain value. KKR’s deep healthcare expertise, long-term vision, and strategic growth orientation make them the right strategic partner to bring our business into its next chapter. Together, we look forward to continuing to invest in our associates and capabilities to deliver excellence for our customers and advance our vision of improving patients’ lives.”
“Integer is an exceptional platform with highly differentiated capabilities across a global manufacturing footprint, a track record for quality and reliability, and a talented team operating in attractive, durable end-markets,” said Max Lin, Partner at KKR. “We are excited by the opportunity to deploy capital and resources to further advance Integer’s next chapter of growth and innovation. We look forward to partnering with the management team and the 11,000 associates to build on Integer’s position as a trusted strategic partner to leading medical device companies and emerging innovators, helping bring life-saving and life-enhancing technologies to patients around the globe.”
As a KKR portfolio company, Integer will have additional flexibility and long-term capital to invest in capacity, technology, innovation, and talent in support of its customers and the patients who rely on the products Integer helps bring to market. KKR intends to establish a broad-based employee ownership and engagement program at Integer following the close of the transaction, consistent with its longstanding approach of fostering an ownership culture and extending ownership to employees across its portfolio. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 200,000 non-senior management employees across more than 90 companies.
Transaction Details
The definitive agreement follows the comprehensive strategic review announced by Integer on April 30, 2026. In consultation with management and its financial and legal advisors, the Integer Board considered a range of potential alternatives to ensure the Company is best positioned for continued success and to maximize stockholder value. The Board determined that the transaction with KKR represents the best path forward for Integer and delivers immediate and certain value to its stockholders.
The transaction is expected to close by the end of the year, subject to the satisfaction of customary closing conditions, including approval by Integer stockholders and the receipt of required regulatory approvals. The Integer Board has unanimously approved the agreement and recommends that Integer stockholders vote their shares to approve the transaction and adopt the merger agreement. This transaction is not subject to any financing contingency.
KKR will make its investment in Integer through its core private equity strategy and finance the transaction through a combination of equity provided by investment funds managed by KKR and committed debt financing.
Upon completion of the transaction, Integer will become a privately held company and Integer’s common stock will no longer be listed on the New York Stock Exchange.
Integer Second Quarter 2026 Results
In a separate press release issued today, Integer reported second quarter 2026 financial results. Given the pending transaction with KKR, Integer is withdrawing its previously issued financial outlook and will not host its earnings conference call and webcast that has been scheduled for Thursday, August 6, 2026.
That press release, along with other investor materials, including reconciliations of certain non-GAAP measures to their nearest GAAP measures, will be available on investor.integer.net.
Advisors
Goldman Sachs & Co. LLC is serving as Integer’s exclusive financial advisor and Davis Polk & Wardwell LLP is serving as legal advisor. Centerview Partners, Barclays, Citi, and Raymond James are serving as financial advisors to KKR. Kirkland & Ellis LLP is serving as legal advisor to KKR. Citi, KKR Capital Markets, Barclays, UBS and Jefferies will act as lead arrangers for the debt financing in connection with the transaction.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMOs) in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
Integer
Media Relations:
Misty Tippen [email protected]
469-536-6702
Cautionary Statement Regarding Forward-Looking Statements
Some of the statements contained in this communication and other written and oral statements made from time to time by us and our representatives are not statements of historical or current fact. As such, they are “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include, but are not limited to, statements relating to: our goals, plans, and strategic initiatives; long-term growth prospects; maximizing value for our stockholders; and other events, conditions or developments that will or may occur in the future; and timing of any of the foregoing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “forecast,” “outlook,” “assume,” “potential” or “continue” or variations or the negative counterparts of these terms or other comparable terminology. These statements are only predictions and are no guarantee of future performance, and investors should not place undue reliance on forward-looking statements as predictive of future results. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary factors and to others contained throughout this communication.
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements regarding the transactions contemplated by the Agreement and Plan of Merger, by and among the Company, Armstrong Parent, Inc. (“Buyer”) and Armstrong Bidco, Inc. (the “Transaction”). All such forward-looking statements are based upon current plans, estimates, expectations, opportunities and ambitions that are subject to risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of the Company, that could cause actual results to differ materially from those expressed in such forward-looking statements. Key factors that could cause actual results to differ materially include, but are not limited to, the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals; the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction; the possibility that the Company’s stockholders may not approve the Transaction; the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transaction; the risk that any announcements relating to the Transaction could have adverse effects on the market price of the Company’s common stock; the risk that the Transaction and its announcement could have an adverse effect on the parties’ business relationships and business generally, including the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers, and on their operating results and businesses generally; the risk of unforeseen or unknown liabilities; customer, stockholder, regulatory and other stakeholder approvals and support; the risk of unexpected future capital expenditures; the risk of potential litigation relating to the Transaction that could be instituted against the Company or its directors and/or officers; the risk associated with third-party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the Transaction which are not waived or otherwise satisfactorily resolved; significant costs, or expenses incurred in connection with the Transaction; the Buyer’s ability to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; certain restrictions contained in the Agreement and Plan of Merger that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; the risk of various events that could disrupt operations, including pandemics, epidemics or other public health crises or severe weather (such as droughts, floods, avalanches and earthquakes), cybersecurity attacks, security threats and governmental response to them, and technological changes; the risks of labor disputes, changes in labor costs and labor difficulties; and the risks resulting from other effects of industry, market, economic, legal or legislative, political or regulatory conditions outside of the Company’s control. All such factors are difficult to predict and are beyond our control, including those detailed in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the Securities Exchange Commission (the “SEC”) on February 23, 2026 (the “Form 10-K”), quarterly reports on Form 10-Q and other documents subsequently filed by the Company with the SEC. The Company’s forward-looking statements are based on assumptions that the Company believes to be reasonable but that may not prove to be accurate. Other unpredictable or factors not discussed in this communication could also have material adverse effects on forward-looking statements. The Company does not assume an obligation to update any forward-looking statements, except as required by applicable law. These forward-looking statements speak only as of the date hereof.
Additional Information and Where to Find It
In connection with the Transaction, the Company will file with the SEC a proxy statement on Schedule 14A. The definitive proxy statement will be sent to the stockholders of the Company seeking their approval of the Transaction and other related matters.
BEFORE MAKING ANY INVESTMENT OR VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT ON SCHEDULE 14A WHEN IT BECOMES AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING THE COMPANY, THE TRANSACTION AND RELATED MATTERS.
Investors and security holders may obtain free copies of these documents, including the proxy statement, and other documents filed with the SEC by the Company through the website maintained by the SEC at https://www.sec.gov. Copies of documents filed with the SEC by the Company will be made available free of charge by accessing the Company’s website at https://investor.integer.net/financial-information/sec-filings/default.aspx or by contacting the Company via email by sending a message to [email protected].
Participants in the Solicitation
The Company, Buyer and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the Transaction under the rules of the SEC. Information about the directors and executive officers of the Company and other persons who may be deemed to be participants in the solicitation of stockholders of the Company in connection with the Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement and other relevant material related to the Transaction, which will be filed with the SEC when they become available, and may be found in the Company’s definitive proxy statement in connection with its 2026 Annual Meeting of Stockholders, as filed with the SEC on April 6, 2026 (the “2026 Proxy Statement”), and in the Form 10-K, and subsequently filed statements of beneficial ownership on Form 4. Information about the directors and executive officers of the Company, their ownership of the Company common stock, and the Company’s transactions with related persons is set forth in the sections entitled “Directors, Executive Officers and Corporate Governance,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” and “Certain Relationships and Related Transactions, and Director Independence” included in the Form 10-K, and in the sections entitled “Corporate Governance and Board Matters,” and “Security Ownership of Certain Beneficial Owners and Management,” included in the 2026 Proxy Statement. Additional information regarding the interests of such participants in the solicitation of proxies in respect of the Transaction will be included in the proxy statement and other relevant materials to be filed with the SEC when they become available. These documents can be obtained free of charge from the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Exelon oznámil solidní výsledky za 2. čtvrtletí 2026: překonal výnosy, EPS mírně zklamalo a výhled potvrdil. Pipeline datacenter ale snížil z 43 GW na 36 GW.
SummaryExelon reported a solid Q2 2026, with a revenue beat, slight EPS miss, and guidance reaffirmed.EXC’s pure T&D model, 7.9% rate base growth, and stable regulatory environment underpin its quality profile.The data center pipeline was cut from 43GW to 36GW, raising caution amid AI-driven utility premium valuations.At 16x forward earnings and a 3.7% yield, EXC trades at fair value, justifying a Hold rating with balanced risk/reward. Wirestock/iStock Editorial via Getty Images
Investment Thesis Exelon (NASDAQ:EXC) just reported its second quarter for 2026, and my honest read is that this is a good company trading at a fair price. Adjusted operating earnings came in at $0.43 per
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Retirees heading into fall want two things from an income portfolio: a check that shows up every 30 days, and a dividend that will not be cut. In August, with the S&P's bond proxies still repricing against a shifting rate curve, the safest monthly payers are the ones with fortress balance sheets, high occupancy, and multi-year raise streaks, not the highest headline yields. These five names all pay monthly, all yield above the broad REIT index, and all have data in their earnings reports that supports the "safety-first" label.
Realty Income (O) Realty Income (NYSE:O | O Price Prediction) is the anchor of any retiree monthly-income book. The self-styled Monthly Dividend Company just declared its 670th consecutive monthly dividend and its 114th consecutive quarterly increase, with the July 31 ex-date payout rising to $0.271 per share, payable August 14, 2026. Shares closed at $63.87 on July 31, up 16.76% year to date, with a dividend yield near 5.04%.
The bull case is boring and that is the point: Q1 2026 AFFO of $1.13 per share (+6.6% YoY), portfolio occupancy of 98.9%, and management raising 2026 investment guidance to $9.5 billion from $8.0 billion at a 7.1% cash yield. Risk to flag: $129.3 million in Q1 impairment provisions and elevated net debt to EBITDA as rates stay higher for longer.
Main Street Capital (MAIN) Main Street Capital (NYSE:MAIN) is the one non-REIT on the list. It is a business development company (BDC), which lends to lower-middle-market firms, so credit quality drives the dividend. The base monthly is $0.26 per share, and the company just paid its 19th consecutive quarterly supplemental of $0.30 on June 30, 2026. Yield sits at 5.62% at a recent price of $54.41.
The credit book is holding: Q4 2025 full-year return on equity of 17.1%, non-accruals of only 1.2% at fair value, and NAV per share rising to $33.46. Risk to flag: Q1 revenue fell 17.9% year over year, MAIN is down 5.83% YTD, and BDCs are directly exposed to rate cuts on their floating-rate loan yields.
Agree Realty (ADC) Agree Realty (NYSE:ADC) is the investment-grade net-lease REIT retirees pair with Realty Income for diversification. The monthly dividend was raised to $0.267 per share, up 4.3% year over year, with payment on August 14, 2026. Portfolio occupancy is 99.8% across 2,825 properties in all 50 states plus DC, and 73.2% of tenants are investment grade.
Q2 2026 delivered record investments of $501.7 million at a 7.0% cap rate, AFFO per share of $1.14 (+7.4%), and 2026 AFFO guidance was raised to $4.57 to $4.59. CEO Joey Agree pointed to a "fortress balance sheet backed by $1.9 billion of liquidity." Risk to flag: Q2 EPS of $0.44 missed the $0.4733 estimate on dilutive equity issuance, and net debt to EBITDA sits at 5.2x.
EPR Properties (EPR) EPR Properties (NYSE:EPR) is the highest-conviction bounce-back story here. The experiential net-lease REIT raised the monthly dividend to $0.31 per share effective March 2026, a 5.1% year-over-year increase, with the August payment landing on August 17, 2026. Yield is 5.65%, and shares are up a striking 29.18% year to date.
Q2 2026 EPS of $0.79 beat the $0.76 estimate, the fifth straight beat, AFFO per share grew 15.3%, and management raised 2026 FFOAA guidance to $5.41 to $5.57. Portfolio is 99% leased with 2.0x coverage. Risk to flag: EPR suspended the dividend during COVID, so the multi-year streak is short; Topgolf and AMC each account for 13.1% of Q2 revenue, and $179.6 million of senior notes mature in August 2026 and $450 million in December.
LTC Properties (LTC) LTC Properties (NYSE:LTC) closes the list with a demographic tailwind that does not require any macro cooperation: aging Americans need seniors housing. The monthly dividend has held at $0.19 per share, uninterrupted since January 2020, with the next ex-date on August 21, 2026. Yield is 5.66%, and LTC is up 21.2% year to date.
Q1 2026 adjusted EPS of $0.48 beat the $0.40 estimate, and management is pivoting to a SHOP (senior housing operating) model that already contributes $49.6 million in resident fees, targeting 45% of gross investments by year-end 2026. 2026 Core FFO guidance was reaffirmed at $2.75 to $2.79. Risk to flag: operator concentration remains high, skilled nursing is still 33% of gross investments, and Prestige Healthcare has a $179.9 million mortgage prepayment risk starting July 2026.
What to Watch Next The setup for August favors quality over reach. Realty Income and Agree Realty offer the tightest occupancy and the cleanest balance sheets; MAIN adds a floating-rate credit sleeve with the deepest supplemental history; EPR is the growth kicker with the highest scrutiny risk; LTC is the demographic play. If rates drift lower into year-end, all five have the operating leverage to raise again. If not, the monthly check still clears.
$119.2 million in 2Q VYJUVEK global revenue and $965.9 million since launch
Multiple clinical data readouts in 2H 2026
On track for VYJUVEK launches in Spain and Italy later this year
Strong balance sheet, ending the quarter with $1.1 billion in cash and investments
PITTSBURGH, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (the “Company” or “Krystal”) (NASDAQ: KRYS) today reported financial results for the second quarter ended June 30, 2026 and provided a business update.
“Our second quarter reflects the strength of the Krystal model: a global commercial product that continues to perform, a strong balance sheet, and a pipeline now moving toward multiple registrational readouts,” said Krish S. Krishnan, Chairman and Chief Executive Officer of Krystal Biotech. “VYJUVEK is not only changing the standard of care for DEB patients around the world, it is also giving us the ability to advance high-conviction rare disease programs across the eye, lung, and skin with focus and discipline. We believe the next 12 to 18 months have the potential to mark an important transition for Krystal from a commercial success story to a multi-product genetic medicines company.”
VYJUVEK® (beremagene geperpavec-svdt, or B-VEC) for the Treatment of Dystrophic Epidermolysis Bullosa (DEB)
The Company recorded $119.2 million in global VYJUVEK net product revenue for the second quarter of 2026, an increase of 24% compared to the prior year second quarter. Gross margin for the quarter was 95%.
VYJUVEK launch performance in the United States continues to reflect durable demand, broad reimbursement access, and increasing use of VYJUVEK as a lifelong wound management therapy. The Company has secured over 730 reimbursement approvals for VYJUVEK and, as of the end of 2Q 2026, had expanded the VYJUVEK prescriber base to include over 640 unique prescribers. The Company’s patient support initiatives are also experiencing strong engagement, helping DEB patients leverage the recent VYJUVEK label update and increased administration flexibility to better integrate treatment into ongoing wound care routines.
Internationally, VYJUVEK continues to gain momentum across the Company’s initial launch markets of Germany, France, and Japan, with growing physician engagement, patient starts, and prescription demand. The Company is also actively pursuing opportunities to further strengthen and expand the global reach of VYJUVEK:
The Company is advancing pricing and reimbursement discussions across Europe. Pricing discussions with German and French reimbursement authorities remain ongoing and are expected to continue until at least 2H 2026 in Germany and into 2027 in France. Pricing discussions in Italy and Spain are also progressing and the Company continues to expect commercial launches in both countries before year end.In May, VYJUVEK was approved by the United Kingdom (UK) Medicines and Healthcare products Regulatory Agency and, in June, VYJUVEK received the Prix Galien UK Award for Best Product for Orphan Disease, marking the third national Prix Galien recognition for VYJUVEK. Pricing discussions in the UK are now underway.The Company expects to file multiple additional marketing authorization applications for VYJUVEK in 2H 2026, including in Switzerland and Australia. Ophthalmology
KB803 for the treatment and prevention of corneal abrasions in DEB patients
The Company’s registrational, intra-patient, double-blind, de-centralized, placebo-controlled study (IOLITE) with crossover design evaluating KB803 for the treatment and prevention of corneal abrasions in DEB patients was fully enrolled in April and is on track for a top-line data readout in 4Q 2026. The primary efficacy endpoint of IOLITE is the change in the average number of days per month with corneal abrasion symptoms while receiving KB803 versus placebo. Details about the study can be found at www.clinicaltrials.gov under NCT identifier: NCT07016750.
KB801 for the treatment of neurotrophic keratitis (NK)
The Company continues to enroll in EMERALD-1, the Company’s registrational, 1:1 randomized, double-masked, multicenter, placebo-controlled study evaluating KB801 for the treatment of NK. The Company expects to complete enrollment of approximately 60 patients in EMERALD-1 before year end. The primary efficacy endpoint of EMERALD-1 is the proportion of patients with complete healing of the corneal epithelium at eight weeks. Details about the study can be found at www.clinicaltrials.gov under NCT identifier: NCT06999733.
Respiratory
KB407 for the treatment of cystic fibrosis (CF)
Enrollment and dosing is ongoing in the Company’s open label, single-arm study to evaluate the safety of repeat dose KB407 for 24 weeks in patients with CF who are ineligible for, do not tolerate, or do not benefit from modulator therapy. The Company expects to complete enrollment of approximately five patients and report interim study results before year end. Details of the study can be found at www.clinicaltrials.gov under NCT identifier: NCT05504837. Earlier this year, the Company announced the successful delivery and expression of wild-type CFTR protein in the lungs of patients with CF treated with KB407.
The Company continues to work closely with the United States Food and Drug Administration (FDA), the Cystic Fibrosis Foundation (CFF), and the CF Therapeutics Development Network Coordinating Center at Seattle Children’s Research Institute (TDNCC) on an innovative registrational study design and statistical analysis plan that explores using prospectively collected natural history data from the CFF and TDNCC to supplement placebo control data for evaluation of KB407 treatment effect. The Company will share the design and associated statistical analysis of the registrational study following alignment with the FDA, which is expected in 4Q 2026, and is on track to initiate the registrational study in 2027.
KB408 for the treatment of alpha-1 antitrypsin deficiency (AATD) lung disease
The Company continues to enroll in repeat dose Cohort 2B of SERPENTINE-1, the Company’s open label dose escalation study evaluating KB408 in adult patients with AATD with a Pi*ZZ or a Pi*ZNull genotype. Cohort 2B is designed to evaluate the safety and tolerability of repeat KB408 dosing at the same dose level that was previously shown to safely deliver SERPINA1 to the lungs of AATD patients after a single dose. Details of the study can be found at www.clinicaltrials.gov under NCT identifier: NCT06049082. The Company expects to report interim study results in 2027.
Pipeline expansion
In May, the Company presented preclinical data at the American Society of Gene & Cell Therapy 2026 Annual Meeting on early-stage respiratory genetic medicine candidates for the treatment of primary ciliary dyskinesia.
Dermatology
KB111 for the treatment of Hailey-Hailey disease (HHD)
The Company has started enrolling and dosing patients in HALITE-1, its open label, single-arm study to evaluate the safety of KB111, administered once weekly for 12 weeks, in patients with HHD. The Company expects to enroll approximately seven patients and report interim study results before year end. Details of the study can be found at www.clinicaltrials.gov under NCT identifier: NCT07717346.
The Company has also completed development of its HHD-specific severity scale for the clinical evaluation of KB111 and validation is currently underway. The Company expects to meet with the FDA following the completion of HALITE-1 to discuss study results, the scale, and study designs to enable a registrational study start in 2027.
Oncology
Inhaled KB707 for the treatment of non-small cell lung cancer (NSCLC)
At the American Society for Clinical Oncology 2026 Annual Meeting in May, the Company presented interim clinical results from the KYANITE-1 Phase 1/2 dose expansion cohort evaluating the safety and efficacy of inhaled KB707 plus pembrolizumab in patients with advanced NSCLC. The combination regimen was well tolerated and effective in this late-line setting, achieving an objective response rate (ORR) of 31% and a disease control rate of 75%. Responses were also durable with median duration of response and progression free survival not reached as of data cut-off. These results build on previously disclosed ORR of 36% in late-line, advanced NSCLC patients treated with inhaled KB707 as monotherapy.
The Company expects to complete enrollment in the final dose expansion cohort of KYANITE-1, evaluating inhaled KB707 in combination with chemotherapy in patients with advanced NSCLC, later this year. The Company plans to report updated interim clinical results from KYANITE-1 and potential registrational study plans in 1H 2027. Details of the KYANITE-1 study can be found at www.clinicaltrials.gov under NCT identifier: NCT06228326.
Intratumoral KB707 for the treatment of Gorlin syndrome
After detecting promising early efficacy signals among basal cell carcinoma (BCC) patients treated with the lowest dose of intratumoral KB707 in the dose escalation phase of the Company’s OPAL-1 Phase 1/2 study, the Company expanded the scope of the study to evaluate the safety and efficacy of this dose in patients with Gorlin syndrome. Gorlin syndrome is a rare genetic disease characterized by a greatly increased risk of developing BCC. Patients with Gorlin syndrome can develop BCCs as early as infancy and may have hundreds of BCCs over their lifetimes requiring frequent and potentially disfiguring surgical procedures. Prevalence data for Gorlin syndrome is limited but available data suggest the number of patients with Gorlin syndrome in the United States could exceed 10,000. The Company has now enrolled three patients with Gorlin syndrome in OPAL-1 and expects to provide an interim clinical update on these patients as well as outline potential development plans for intratumoral KB707 for the treatment of Gorlin syndrome later this year. Details of the OPAL-1 study can be found at www.clinicaltrials.gov under NCT identifier: NCT05970497.
Aesthetics
KB304 for the treatment of wrinkles of the décolleté
Jeune Aesthetics, Inc., a wholly owned subsidiary of the Company, expects to initiate a Phase 2 study of its lead program KB304 in 2027.
Financial Results for the Quarter Ended June 30, 2026:
Cash, cash equivalents and investments totaled $1.1 billion as of June 30, 2026Product revenue, net totaled $119.2 million and $96.0 million for the three months ended June 30, 2026 and June 30, 2025, respectively.Cost of goods sold totaled $6.4 million and $7.2 million for the three months ended June 30, 2026 and June 30, 2025, respectively.Research and development expenses for the three months ended June 30, 2026 were $14.5 million, inclusive of $2.5 million of stock-based compensation, compared to $14.4 million, inclusive of stock-based compensation of $2.6 million, for the three months ended June 30, 2025.Selling, general, and administrative expenses for the three months ended June 30, 2026 were $39.9 million, inclusive of stock-based compensation of $11.7 million, compared to $35.1 million, inclusive of stock-based compensation of $11.5 million, for the three months ended June 30, 2025.Net income for the three months ended June 30, 2026 was $54.8 million, or $1.85 per common share (basic) and $1.79 per common share (diluted). Net income for the three months ended June 30, 2025 was $38.3 million, or $1.33 per common share (basic) and $1.29 per common share (diluted).For additional information on the Company’s financial results for the three months ended June 30, 2026, please refer to the Form 10-Q filed with the SEC.
Financial Results for the Six Months Ended June 30, 2026:
Product revenue, net totaled $235.6 million and $184.2 million for the six months ended June 30, 2026 and June 30, 2025, respectively.Cost of goods sold totaled $12.8 million and $12.2 million for the six months ended June 30, 2026 and June 30, 2025, respectively.Research and development expenses for the six months ended June 30, 2026 were $29.8 million, inclusive of $4.6 million of stock-based compensation, compared to $28.7 million, inclusive of stock-based compensation of $5.1 million, for the six months ended June 30, 2025.Selling, general, and administrative expenses for the six months ended June 30, 2026 were $80.9 million, inclusive of stock-based compensation of $23.1 million, compared to $67.7 million, inclusive of stock-based compensation of $22.5 million, for the six months ended June 30, 2025.Net income for the six months ended June 30, 2026 was $110.7 million, or $3.76 per common share (basic) and $3.62 per common share (diluted). Net income for the six months ended June 30, 2025 was $74.1 million, or $2.57 per common share (basic) and $2.48 per common share (diluted).For additional information on the Company’s financial results for the six months ended June 30, 2026, please refer to the Form 10-Q filed with the SEC. Financial Guidance
($ in millions) FY 2026 GuidanceNon-GAAP Research and Development (“R&D”) and Selling, General and Administrative (“SG&A”) expense(1) $175.0 - $195.0 (1) Refer to Non-GAAP Financial Measures section below for additional information. Non-GAAP combined R&D and SG&A expense guidance does not include stock-based compensation as we are currently unable to confidently estimate Full Year 2026 stock-based compensation expense. As such, we have not provided a reconciliation from forecasted non-GAAP to forecasted GAAP combined R&D and SG&A Expense in the above. This could materially affect the calculation of forward-looking GAAP combined R&D and SG&A Expense as it is inherently uncertain.
Conference Call
The Company will host a conference call and webcast on August 3, 2026, at 8:30 am ET.
Investors and the general public can access the live webcast at:
https://www.webcaster5.com/Webcast/Page/3018/54300.
For those unable to listen to the live conference call, a replay will be available for 30 days on the Investors section of the Company’s website at www.krystalbio.com.
About VYJUVEK
VYJUVEK is a non-invasive, topical, redosable genetic medicine designed to deliver two copies of the COL7A1 gene when applied directly to DEB wounds. VYJUVEK was designed to treat DEB at the molecular level by providing the patient’s skin cells the template to make normal COL7 protein, thereby addressing the fundamental disease-causing mechanism. VYJUVEK is approved in the United States, Europe, and Japan.
U.S. INDICATION
VYJUVEK is a herpes-simplex virus type 1 (HSV-1) vector-based gene therapy indicated for the treatment of wounds in adult and pediatric patients with dystrophic epidermolysis bullosa with mutation(s) in the collagen type VII alpha 1 chain (COL7A1) gene.
IMPORTANT SAFETY INFORMATION
Adverse Reactions
The most common adverse drug reactions (incidence >5%) were itching, chills, redness, rash, cough, and runny nose. These are not all the possible side effects with VYJUVEK. Call your healthcare provider for medical advice about side effects.
To report SUSPECTED ADVERSE REACTIONS, contact Krystal Biotech, Inc. at 1-844-557-9782 or FDA at 1-800-FDA-1088 or http://www.fda.gov/medwatch.
Contraindications
None.
Warnings and Precautions
VYJUVEK gel may be applied by a healthcare provider, a caregiver, or the patient.
After treatment, patients and caregivers should be careful not to touch treated wounds and dressings until the next dressing change.
Wash hands and wear protective gloves when changing wound dressings. Disinfect bandages from the first dressing change with a virucidal agent, and dispose of the disinfected bandages in a separate sealed plastic bag in household waste. Dispose of the subsequent used dressings in a sealed plastic bag in household waste.
Patients should avoid touching or scratching wound sites or wound dressings.
In the event of an accidental exposure flush with clean water for at least 15 minutes.
For more information, see full U.S. Prescribing Information.
About Krystal Biotech, Inc.
Krystal Biotech, Inc. (NASDAQ: KRYS) is a fully integrated, commercial-stage, global biotechnology company focused on the discovery, development and commercialization of genetic medicines to treat diseases with high unmet medical needs. VYJUVEK®, the Company’s first commercial product, is the first-ever redosable gene therapy and the first genetic medicine approved in the United States, Europe, and Japan for the treatment of dystrophic epidermolysis bullosa. The Company is rapidly advancing a robust preclinical and clinical pipeline of investigational genetic medicines. Krystal Biotech is headquartered in Pittsburgh, Pennsylvania. Visit www.krystalbio.com to learn more or follow us on LinkedIn and X.
About Jeune Aesthetics, Inc.
Jeune Aesthetics, Inc., a wholly-owned subsidiary of Krystal Biotech, Inc., is a biotechnology company leveraging a clinically validated gene delivery platform to develop products to fundamentally address – and reverse – the biology of aging and/or damaged skin. For more information, please visit http://www.jeuneinc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including statements regarding: the Company’s belief that the next 12 to 18 months could mark an important transition to a multi-product genetic medicines company; the commercial launch and expansion of VYJUVEK in Europe and additional markets (including the timing of pricing and reimbursement discussions in Germany and France, anticipated commercial launches in Italy and Spain, and the timing of marketing authorization filings in other jurisdictions); the Company’s development plans for its product candidates; the timing of enrollment, data readouts, and regulatory interactions with respect to the Company’s clinical trials of its product candidates (including registrational study plans for KB407, KB111, and inhaled KB707 and plans for an interim clinical update on the Company’s clinical study evaluating intratumoral KB707 in patients with Gorlin syndrome); and other statements about expectations, plans, and prospects. These statements are often identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions.; Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties associated with regulatory review of clinical trials and applications for marketing approvals; the availability, pricing, and commercial potential of VYJUVEK and the Company’s product candidates; and other important factors set forth under the caption “Risk Factors” in the Company’s annual and quarterly reports on file with the U.S. Securities and Exchange Commission. The forward-looking statements represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change, and although the Company may elect to update these statements, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
Non-GAAP Financial Measures
This press release includes forward-looking combined R&D and SG&A expense guidance that is not required by, or presented in accordance with, U.S. GAAP and should not be considered as an alternative to R&D and SG&A expense or any other performance measure derived in accordance with GAAP. The Company defines non-GAAP combined R&D and SG&A expense as GAAP combined R&D and SG&A expense excluding stock-based compensation. The Company cautions investors that amounts presented in accordance with its definition of non-GAAP combined R&D and SG&A expense may not be comparable to similar measures disclosed by competitors because not all companies calculate this non-GAAP financial measure in the same manner. The Company presents this non-GAAP financial measure because it considers this measure to be an important supplemental measure and believes it is frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in the Company’s industry. Management believes that investors’ understanding of the Company’s performance is enhanced by including this forward-looking non-GAAP financial measure as a reasonable basis for comparing the Company’s ongoing results of operations. Management uses this non-GAAP financial measure for planning purposes, including the preparation of the Company’s internal annual operating budget and financial projections; to evaluate the performance and effectiveness of the Company’s operational strategies; and to evaluate the Company’s capacity to expand its business. This non-GAAP financial measure has limitations as an analytical tool, and should not be considered in isolation, or as an alternative to, or a substitute for R&D and SG&A expense or other financial statement data presented in accordance with GAAP in the Company’s consolidated financial statements. The Company has not provided a quantitative reconciliation of forecasted non-GAAP combined R&D and SG&A expense to forecasted GAAP combined R&D and SG&A expense because the Company is unable, without making unreasonable efforts, to calculate the reconciling item, stock-based compensation expenses, with confidence. This item, which could materially affect the computation of forward-looking GAAP combined R&D and SG&A expense, is inherently uncertain and depends on various factors, some of which are outside of the Company’s control.
CONTACT
Condensed Consolidated Balance Sheet Data:
June 30,
2026 December 31,
2025(in thousands) (unaudited) Balance sheet data: Cash and cash equivalents $427,740 $496,304Short-term investments 417,891 331,487Long-term investments 257,291 128,066Total assets 1,500,648 1,333,794Total liabilities 141,522 114,234Total stockholders’ equity $1,359,126 $1,219,560 Condensed Consolidated Statements of Operations:
Three Months Ended June 30, 2026 2025 Change(in thousands, except per share data) (unaudited) Revenue Product revenue, net $119,222 $96,042 $23,180 Operating Expenses Cost of goods sold 6,437 7,165 (728)Research and development 14,518 14,410 108 Selling, general, and administrative 39,850 35,068 4,782 Total operating expenses 60,805 56,643 4,162 Income from operations 58,417 39,399 19,018 Other income Interest and other income, net 7,662 7,376 286 Income before income taxes 66,079 46,775 19,304 Income tax expense (11,311) (8,442) (2,869)Net income $54,768 $38,333 $16,435 Net income per common share: Basic $1.85 $1.33 Diluted $1.79 $1.29 Weighted-average common shares outstanding: Basic 29,529 28,910 Diluted 30,657 29,749 Six Months Ended June 30, 2026 2025 Change(in thousands, except per share data) (unaudited) Revenue Product revenue, net $235,579 $184,225 $51,354 Operating Expenses Cost of goods sold 12,760 12,193 567 Research and development 29,849 28,666 1,183 Selling, general, and administrative 80,863 67,714 13,149 Total operating expenses 123,472 108,573 14,899 Income from operations 112,107 75,652 36,455 Other income Interest and other income, net 15,414 14,720 694 Income before income taxes 127,521 90,372 37,149 Income tax expense (16,821) (16,305) (516)Net income $110,700 $74,067 $36,633 Net income per common share: Basic $3.76 $2.57 Diluted $3.62 $2.48 Weighted-average common shares outstanding: Basic 29,409 28,863 Diluted 30,584 29,819
LONDON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Marex Group Limited (‘Marex’ or the ‘Group’, NASDAQ:MRX), the diversified global financial services platform, today announces that it has completed the acquisition of European equity derivatives market maker Webb Traders.
Webb Traders has offices in Amsterdam and Paris and specialises in single stock options market making for European and US mid and large cap equities. The acquisition further strengthens Marex's market making capabilities, bringing to Marex a strong, technology led team of market makers, quants and developers. This addition also brings further electronic trading capabilities to Marex, in line with its strategy to diversify earnings.
The acquisition will further enhance Marex’s established Equity Linked Structured Products platform allowing the Group to internalise hedging, enhance profit margins and provide better pricing for clients.
About Marex: Marex Group Limited (NASDAQ:MRX) provides market access, infrastructure services and essential liquidity to clients across global commodity and financial markets. The Group provides comprehensive breadth and depth of coverage across four services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to more than 60 exchanges. Marex has over 3,400 active clients, including some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 50 offices worldwide, the Group has over 3000 employees across Europe, Asia and the Americas. For more information visit www.marex.com.
Společnost Brookfield dokončila akvizici Oaktree a posílila tak svou globální úvěrovou platformu na 365 miliard USD. Spojení rozšiřuje nabídku v oblasti úvěrů a zvyšuje dosah Brookfieldu na trhu.
Acquisition strengthens $365B credit platform, bringing together Oaktree’s cycle-tested expertise with Brookfield’s scale and reach August 03, 2026 06:45 ET | Source: Brookfield Asset Management Ltd; Brookfield Corporation
NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Brookfield today announced that it has completed its acquisition of Oaktree, one of the world’s premier credit managers. The transaction marks the next step in a partnership that began in 2019 and fully brings together the Oaktree and Brookfield platforms. With the addition of Oaktree, Brookfield’s global credit platform offers a broad range of solutions across opportunistic credit, real asset credit, asset-backed finance and corporate performing credit to institutions, financial advisors and individuals.
Connor Teskey, CEO of Brookfield Asset Management, said, “Brookfield has been a leading alternative asset investor for decades and over the past 20 years has built a credit business to complement its global real asset platforms. Adding the Oaktree franchise has further strengthened our ability to invest across market cycles and opportunity sets, enhanced by Oaktree’s track record and underwriting capabilities. We look forward to building on their strong track record and deep expertise as we continue to grow our credit business globally.”
Bob O’Leary and Armen Panossian, Co-CEOs of Brookfield’s Credit Group, said, “Brookfield and Oaktree’s partnership over the past seven years has been built on a shared commitment to disciplined investing and a long-term perspective. This next step allows us to build on that foundation and continue delivering strong outcomes for our clients.”
Howard Marks will be Co-Chair of Oaktree, in addition to his role as a Director of Brookfield Corporation, and Chair of Brookfield’s Investment Solutions Group. Bruce Karsh will also be Co-Chair of Oaktree in addition to being Oaktree’s Chief Investment Officer and portfolio manager for Oaktree’s Global Opportunities and Global Credit strategies.
With the acquisition of Oaktree, the U.S. becomes Brookfield Asset Management’s largest market. It is now home to over 60% of Brookfield Asset Management's employee base and the source of nearly half of its revenue. It further deepens Brookfield’s long-standing presence in the country and reinforces its commitment to investing in the U.S. economy. At the same time, Oaktree's global investment platform and presence in 18 countries broadens the reach of Brookfield's credit business, strengthening its ability to serve clients and deploy capital worldwide.
About Brookfield
Brookfield is a leading global investment firm with more than $1 trillion in assets under management. The firm owns and operates high-quality businesses and real assets that provide essential services and form the backbone of the global economy. Brookfield invests on behalf of institutions and individuals around the world across infrastructure, energy, private equity, real estate, and credit. With more than a century of operating experience and a global presence in over 30 countries, Brookfield deploys long-term capital to generate sustainable value for its clients and shareholders. Brookfield Corporation (NYSE: BN, TSX: BN) and Brookfield Asset Management (NYSE: BAM, TSX: BAM) are publicly traded in New York and Toronto.
For more information, please visit our website at www.brookfield.com.
Notice to Readers
This news release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the expected impact of the completed acquisition.
Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in Canada and the United States, not presently known to Brookfield or that that Brookfield currently believes are not material, could cause actual results or events to differ materially from those contemplated or implied by forward-looking statements.
Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.
EchoStar ve 2. čtvrtletí 2026 vykázal tržby 3,58 mld. USD a čistý zisk připadající na akcionáře 8,46 mld. USD díky účetnímu zisku z dekonzolidace ve výši přibližně 9,73 mld. USD.
ENGLEWOOD, Colo., Aug. 03, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation (NASDAQ: ECHO) reported second quarter 2026 total revenue of $3.58 billion, compared to $3.72 billion in 2025. Net income attributable to EchoStar in the second quarter of 2026 totaled $8.46 billion, compared to a net loss of $306.13 million in the year-ago quarter. The net income in 2026 was primarily attributable to a non-cash gain on deconsolidation totaling approximately $9.73 billion. Excluding the tax affected impact of the non-cash adjustment for 2026, the net income attributable to EchoStar would have been approximately $49.46 million. Diluted earnings per share was $24.12 in the second quarter of 2026, compared to a loss of $1.06 in 2025.
Pay-TV
Net pay-TV subscribers decreased approximately 241,000 in the second quarter of 2026, compared to a decrease of approximately 261,000 in the year-ago quarter.The company closed the quarter with 6.39 million pay-TV subscribers, including 4.68 million DISH TV subscribers and 1.71 million Sling TV subscribers. Retail Wireless
Retail wireless subscribers decreased by approximately 118,000 in the second quarter of 2026, compared to an increase of 212,000 in the year-ago quarter.The company closed the quarter with 7.38 million wireless subscribers. Broadband and Satellite Services
Broadband subscribers decreased by approximately 59,000 in the second quarter of 2026, compared to a decrease of 34,000 in the year-ago quarter.The company closed the quarter with 622,000 broadband subscribers. Additional Details
Detailed financial data and other information are available in EchoStar’s Form 10-Q for the quarter ending June 30, 2026, filed with the Securities and Exchange Commission.
EchoStar will host a conference call to discuss its earnings on Monday, August 3, 2026, at 12:00 p.m. Eastern Time.
The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at ir.echostar.com. To attend the call, please dial: (877) 484-6065 (U.S.) or +1 (201) 689-8846. When prompted on dial-in, please utilize the conference ID 13762022 or ask for the "EchoStar Corporation Q2 2026 Earnings Conference Call.” Please dial in at least 10 minutes before the call to ensure timely participation.
Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended June 30, 2026 and 2025 (all U.S. GAAP amounts reference results from operations):
For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 (In thousands)Revenue Pay-TV$2,248,534 $2,462,249 $4,542,798 $5,000,976 Wireless 929,023 931,803 1,891,514 1,901,471 Broadband and Satellite Services 316,904 339,780 646,560 710,438 Other 91,548 71,876 182,531 134,173 Eliminations (9,845) (80,749) (19,750) (152,341)Total$3,576,164 $3,724,959 $7,243,653 $7,594,717 Net Income (loss) attributable to EchoStar$8,462,372 $(306,132) $8,315,487 $(508,801) OIBDA Pay-TV$600,656 $663,377 $1,128,089 $1,393,250 Wireless 50,760 (98,909) 64,477 (172,616)Broadband and Satellite Services 100,474 67,699 194,598 153,402 Other (69,118) (337,075) (145,108) (661,556)Eliminations 709 (15,445) 873 (32,632)Total$683,481 $279,647 $1,242,929 $679,848 Adjusted OIBDA Pay-TV$600,656 $663,377 $1,128,089 $1,393,250 Wireless 50,760 (98,909) 64,477 (172,616)Broadband and Satellite Services 100,199 67,699 194,323 153,402 Other (71,129) (337,075) (213,278) (661,556)Eliminations 709 (15,445) 873 (32,632)Total$681,195 $279,647 $1,174,484 $679,848 Purchases of property and equipment (including capitalized interest related to regulatory authorizations) Pay-TV$55,262 $78,580 $143,390 $140,968 Wireless 28,992 — 57,825 — Broadband and Satellite Services 6,942 43,118 18,552 75,221 Other 1,103 625,203 5,967 909,196 $92,299 $746,901 $225,734 $1,125,385 Reconciliation of GAAP to Non-GAAP Measurement:
Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Three Months Ended June 30, 2026 (In thousands)Segment operating income (loss) $542,341 $(97) $50,457 $(80,472) $709 $512,938 Depreciation and amortization 58,315 50,857 50,017 11,354 — 170,543 OIBDA 600,656 50,760 100,474 (69,118) 709 683,481 Impairments and other — — (275) (2,011) — (2,286)Adjusted OIBDA $600,656 $50,760 $100,199 $(71,129) $709 $681,195 For the Three Months Ended June 30, 2025 Segment operating income (loss) $595,552 $(118,159) $(36,738) $(654,788) $725 $(213,408)Depreciation and amortization 67,825 19,250 104,437 317,713 (16,170) 493,055 OIBDA 663,377 (98,909) 67,699 (337,075) (15,445) 279,647 Impairments and other — — — — — — Adjusted OIBDA $663,377 $(98,909) $67,699 $(337,075) $(15,445) $279,647 Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Six Months Ended June 30, 2026 (In thousands)Segment operating income (loss) $1,013,908 $(35,879) $94,641 $(167,767) $882 $905,785 Depreciation and amortization 114,181 100,356 99,957 22,659 (9) 337,144 OIBDA 1,128,089 64,477 194,598 (145,108) 873 1,242,929 Impairments and other — — (275) (68,170) — (68,445)Adjusted OIBDA $1,128,089 $64,477 $194,323 $(213,278) $873 $1,174,484 For the Six Months Ended June 30, 2025 Segment operating income (loss) $1,248,982 $(212,053) $(55,933) $(1,283,198) $662 $(301,540)Depreciation and amortization 144,268 39,437 209,335 621,642 (33,294) 981,388 OIBDA 1,393,250 (172,616) 153,402 (661,556) (32,632) 679,848 Impairments and other — — — — — — Adjusted OIBDA $1,393,250 $(172,616) $153,402 $(661,556) $(32,632) $679,848 Note on Use of Non-GAAP Financial Measures
OIBDA is defined as “Operating income (loss)” plus “Depreciation and amortization.”
Adjusted OIBDA is defined as "Operating income (loss)" plus "Depreciation and amortization" and "Impairments and other."
OIBDA and Adjusted OIBDA, which are presented by segment above, are non-GAAP measures reconciled to "Operating income (loss)" and do not purport to be alternatives to operating income (loss) as a measure of operating performance. We believe OIBDA is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.
We believe Adjusted OIBDA is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments as it excludes one-time, non-cash items that we do not consider to be reflective of our ongoing operating performance.
About EchoStar Corporation
EchoStar Corporation (Nasdaq: ECHO) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.
Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "goal," "seek," "estimate," "expect," "intend," "project," "continue," "future," "will," "would," "can," "may," "plans," and similar expressions and the use of future dates are intended to identify forward–looking statements. Although management believes that the expectations reflected in these forward–looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no responsibility for the accuracy of forward-looking statements or information or for updating forward-looking information or statements. These statements are subject to certain risks, uncertainties, and assumptions. See "Risk Factors" in EchoStar's Annual Report on Form 10-K for the period ended December 31, 2025 as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.
ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share amounts)
(Unaudited)
As of June 30, December 31, 2026
2025
Assets Current Assets: Cash and cash equivalents$439,988 $1,883,074 Current restricted cash, cash equivalents and marketable investment securities 1,055,678 175,838 Marketable investment securities 56,205 1,100,891 Trade accounts receivable, net of allowance for credit losses of $167,370 and $79,590, respectively 905,613 1,273,849 Inventory 322,390 380,647 Prepaids and other assets 229,671 284,194 Regulatory authorizations held for sale, net 16,822,253 — Other current assets 21,926 34,678 Total current assets 19,853,724 5,133,171 Noncurrent Assets: Restricted cash, cash equivalents and marketable investment securities 55,081 176,203 Property and equipment, net 1,760,321 2,243,515 Regulatory authorizations, including restricted, net 17,116,754 34,548,952 Other investments, net 212,562 194,046 Operating lease assets 66,696 214,549 Intangible assets, net 49,124 54,413 Other noncurrent assets, net 311,136 451,506 Total noncurrent assets 19,571,674 37,883,184 Total assets$39,425,398 $43,016,355 Liabilities and Stockholders’ Equity (Deficit) Current Liabilities: Trade accounts payable$251,882 $541,706 Deferred revenue and other 221,389 639,173 Accrued programming — 1,224,222 Accrued interest 170,350 309,462 Other accrued expenses and liabilities 1,727,475 2,327,587 Current portion of debt, finance lease and other obligations 1,446,316 7,321,269 Total current liabilities 3,817,412 12,363,419 Long-Term Obligations, Net of Current Portion: Long-term debt, finance lease and other obligations, net of current portion 15,985,387 18,658,602 Deferred tax liabilities, net 3,406,850 598,590 Operating lease liabilities 120,325 4,137,269 Long-term deferred revenue and other long-term liabilities 1,894,020 1,446,477 Total long-term obligations, net of current portion 21,406,582 24,840,938 Total liabilities 25,223,994 37,204,357 Commitments and Contingencies Stockholders’ Equity (Deficit): Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 160,892,524 and 159,266,457 shares issued, 159,103,504 and 157,477,437 shares outstanding, respectively 161 159 Class B common stock, $0.001 par value, 800,000,000 shares authorized, 131,348,468 shares issued and outstanding 131 131 Additional paid-in capital 8,949,104 8,875,937 Accumulated other comprehensive income (loss) (182,530) (183,188)Accumulated earnings (deficit) 5,436,744 (2,878,743)Treasury stock, at cost, 1,789,020 shares (48,512) (48,512)Total EchoStar stockholders’ equity (deficit) 14,155,098 5,765,784 Noncontrolling interests 46,306 46,214 Total stockholders’ equity (deficit) 14,201,404 5,811,998 Total liabilities and stockholders’ equity (deficit)$39,425,398 $43,016,355 ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
For the Three Months Ended For the Six Months Ended June 30, June 30, 2026
2025
2026
2025
Revenue: Service revenue$3,301,538 $3,540,107 $6,677,078 $7,146,263 Equipment sales and other revenue 274,626 184,852 566,575 448,454 Total revenue 3,576,164 3,724,959 7,243,653 7,594,717 Costs and Expenses (exclusive of depreciation and amortization): Cost of services 1,928,151 2,461,631 3,926,419 4,893,829 Cost of sales - equipment and other 418,970 354,187 955,877 793,695 Selling, general and administrative expenses 547,848 629,494 1,186,873 1,227,345 Depreciation and amortization 170,543 493,055 337,144 981,388 Impairments and other (2,286) — (68,445) — Total costs and expenses 3,063,226 3,938,367 6,337,868 7,896,257 Operating income (loss) 512,938 (213,408) 905,785 (301,540) Other Income (Expense): Interest income 40,912 65,369 70,321 130,898 Interest expense, net of amounts capitalized (509,146) (279,232) (1,101,806) (565,287)Deconsolidation gain 9,728,958 — 9,728,958 — Other, net 16,452 35,137 18,636 76,527 Total other income (expense) 9,277,176 (178,726) 8,716,109 (357,862) Income (loss) before income taxes 9,790,114 (392,134) 9,621,894 (659,402)Income tax (provision) benefit, net (1,327,569) 85,290 (1,306,649) 149,277 Net income (loss) 8,462,545 (306,844) 8,315,245 (510,125) Less: Net income (loss) attributable to noncontrolling interests, net of tax 173 (712) (242) (1,324)Net income (loss) attributable to EchoStar$8,462,372 $(306,132) $8,315,487 $(508,801) Weighted-average common shares outstanding - Class A and B common stock: Basic 290,141 287,505 289,581 287,012 Diluted 351,622 287,505 351,432 287,012 Earnings per share - Class A and B common stock: Basic net income (loss) per share attributable to EchoStar$29.17 $(1.06) $28.72 $(1.77)Diluted net income (loss) per share attributable to EchoStar$24.12 $(1.06) $23.76 $(1.77) ECHOSTAR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
For the Six Months Ended June 30, 2026
2025
Cash Flows From Operating Activities: Net income (loss)$8,315,245 $(510,125)Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation and amortization 337,144 981,388 Impairments and other (68,445) — Deconsolidation gain (9,728,958) — Realized and unrealized losses (gains) and impairments on investments and other (8,472) (64,831)Non-cash, stock-based compensation 23,363 16,123 Interest expense paid in kind on long-term debt — 114,756 Deferred tax expense (benefit) 1,289,307 (174,719)Changes in allowance for credit losses (5,352) 15,603 Change in long-term deferred revenue and other long-term liabilities (82,222) 420 Other, net 100,005 609 Changes in operating assets and operating liabilities, net 56,709 (164,957)Net cash flows from operating activities 228,324 214,267 Cash Flows From Investing Activities: Purchases of marketable investment securities (577,120) (2,247,724)Sales and maturities of marketable investment securities 1,571,636 1,526,245 Purchases of property and equipment (225,734) (551,600)Capitalized interest related to regulatory authorizations — (573,785)SpaceX Reimbursement of Cash Interim Debt Service Payments 413,663 — Cash divested from the Deconsolidated Entities (362,968) — Sale of Fiber business — 47,207 Other, net (7,743) (64)Net cash flows from investing activities 811,734 (1,799,721) Cash Flows From Financing Activities: Repayment of debt, finance lease and other obligations (16,221) (46,272)Redemption and repurchases of debt (1,787,082) (456,049)Proceeds from issuance of debt — 150,000 Debt issuance costs and debt (discount) premium — (946)Early debt redemption gains (losses) — 11,465 Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 21,689 6,994 Other, net 2,700 (31,189)Net cash flows from financing activities (1,778,914) (365,997) Effect of exchange rates on cash and cash equivalents 19 2,965 Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (738,837) (1,948,486)Cash, cash equivalents, restricted cash and cash equivalents, beginning of period 2,182,155 4,593,804 Cash, cash equivalents, restricted cash and cash equivalents, end of period$1,443,318 $2,645,318
Apple může u iPhonu 18 zdražit až o 200 USD, ale leasing přes Apple Upgrade by mohl pomoci udržet poptávku. Morgan Stanley čeká, že vyšší ceny přidají asi 1 % k zisku na akcii ve fiskálním roce 2027.
Apple’s next iPhone could become more expensive, but the company’s new leasing programme may help customers absorb the increase and protect demand.
Morgan Stanley analyst Erik Woodring estimates that iPhone 18 models could cost as much as $200 more as rising memory and storage expenses squeeze hardware margins.
Apple has not confirmed any increase. Yet Apple Upgrade, its US leasing programme operated through Klarna, lets customers spread the cost across 12 or 24 months instead of paying upfront.
For Apple stock NASDAQ:AAPL, the question is whether leasing can make a costlier iPhone affordable enough to preserve upgrades, lift selling prices and protect margins.
AI data centres are consuming more memory and storage, tightening supplies for consumer-electronics manufacturers.
Apple has already raised prices on some Macs and iPads, shifting Wall Street’s debate towards how much iPhone prices might rise rather than whether an increase is coming.
Woodring believes Apple can pass a share of those costs to customers.
Morgan Stanley expects price increases to add about 1% to fiscal 2027 earnings, assuming unit demand remains resilient. The bank maintained an Overweight rating and a $360 price target.
A $100 or $200 increase could lift Apple’s average selling price and offset component inflation without requiring rapid shipment growth.
Premium buyers are important. Customers choosing Pro models are less sensitive to price changes, giving Apple more room to raise prices where margins are strongest.
A richer mix could support earnings even if demand for cheaper models softens.
Apple Upgrade allows eligible US customers to lease iPhones through Klarna for 12 or 24 months, with payments starting at $17.99 a month.
Customers can return the device, start a new lease or make a final payment to keep it.
The programme does not reduce the iPhone’s price, but changes how customers experience it.
Bank of America analyst Wamsi Mohan described Apple Upgrade as “directionally positive”, according to Business Insider.
He highlighted lower affordability barriers, faster replacement cycles, stronger direct engagement and the opportunity to capture value from returned devices. Bank of America retained a Buy rating and a $380 price objective.
That mechanism could become useful if Apple raises prices. A $200 increase appears significant on a retail label, but less severe when divided across monthly payments.
Returned devices could provide refurbished inventory and create more opportunities to sell AppleCare, accessories and services.
Apple’s pricing power is strong, but not unlimited.
KeyBanc downgraded Apple to Underweight with a $250 target after spending data pointed to weaker hardware demand and slowing upgrades.
The firm warned that higher prices and reduced carrier subsidies could make fiscal 2027 growth harder to achieve.
Leasing also has disadvantages. Customers do not automatically own the device, AppleCare is not included in the lowest advertised payment, and damage or early-termination charges can raise the cost.
Consumers who upgrade repeatedly may remain in permanent monthly payments without retaining a phone to resell.
Supply remains another risk. Even if customers accept higher prices, shortages of advanced chips and memory could prevent Apple from shipping enough devices to capture the full benefit.
Amazon ve 2. čtvrtletí zvýšil tržby AWS o 36,8 % na 42,2 miliardy USD a provozní zisk o 63,6 % na 16,6 miliardy USD. Firma zároveň plánuje letos kapitálové výdaje ve výši 220 miliard USD.
Amazon (AMZN +15.32%) has richly rewarded investors over the years. However, its more recent performance has left something to be desired.
The shares gained 2.5% over the last three months through July 31. Large-cap stocks, as measured by the S&P 500 index, gained 3.9%. Amazon also trailed growth stocks, with the S&P 500 Growth index increasing 4.2%.
Has the market underappreciated Amazon's growth prospects?
Image source: Getty Images.
Investing for the long run Amazon commands a large share of the online retail marketplace. This includes nearly 36% of U.S. e-commerce sales in 2025.
These are part of the North American and international segments, which produced 79% of first-half sales, but only 40% of Amazon's operating profit.
Fortunately, Amazon relies on the fast-growing, high-margin Amazon Web Services (AWS) business for the bulk of its profit. The cloud-computing business has done well as organizations clamor for data. With the rapid growth of generative artificial intelligence, its data centers became even more relevant.
Competition remains limited due to the enormous resources needed to build and maintain these large data centers. AWS has the leading market share in this fast-growing area, at 28% as of the first quarter. That's followed by Microsoft's Azure at 21% and Alphabet's Google Cloud at 14%. The remaining participants have 4% or less of the market.
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AWS continues to grow its sales rapidly. That includes a 36.8% year-over-year gain in the second quarter to $42.2 billion, driving a 63.6% increase in operating income to $16.6 billion.
Is the stock a buy? With the company's dominant position in cloud computing and online retail, why has the stock lagged the market lately? Investors got spooked by management's spending plan, including a projected $220 billion in capital expenditures this year. That's an increase from $131.8 billion in 2025, and higher than the anticipated $200 million outlined earlier in the year. But with management investing to meet demand, this seems like a sound strategy.
Meanwhile, the sluggish stock price movement created a better valuation for investors. Over the last year, the price-to-earnings (P/E) ratio dropped from 35 to 22. That's less than half the five-year median of 50. Amazon's stock also trades at an attractive valuation compared to the S&P 500's P/E ratio of 29.
It's rare when a company with dominant market positions, including in the fast-growing cloud-computing business, trades at a discount, both historically and relative to the market. That makes Amazon shares a compelling buying opportunity.
AMD v úterý oznámí výsledky a trh sleduje hlavně datová centra, která tvoří více než polovinu tržeb. Firma čeká tržby kolem 11,2 miliardy USD a růst asi o 46 % meziročně.
Advanced Micro Devices (AMD -1.90%) reports its second-quarter results on Tuesday, Aug. 4, after the market closes, with an earnings call to follow at 5 p.m. ET. The chipmaker confirmed the date in a press release on its investor relations site in early July.
The stock heads into the report at about $476, where it closed Friday, roughly 19% below its 52-week high of $584.73. At that price, the company carries a market capitalization of about $776 billion, and shares trade at about 162 times earnings and about 54 times forward earnings estimates.
A valuation like that isn't a bet on the company as it exists today. It's a bet on how fast one segment's revenue keeps growing: data center. I'll say up front that I like the business here more than I like the price.
Image source: Getty Images.
What data center did last quarter AMD's first quarter, reported in early May, showed why investors have been willing to pay up. Total revenue rose 38% year over year to $10.3 billion. Data center segment revenue grew 57% to $5.8 billion, driven by demand for the company's EPYC server processors and its Instinct line of artificial intelligence (AI) accelerators. For the second consecutive quarter, the segment delivered more than half of the company's total revenue.
"We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth," CEO Lisa Su said in the company's first-quarter earnings release.
The rest of the business helped, too. Client and gaming segment revenue rose 23% year over year to $3.6 billion, with the client business (chips for laptops and desktops) up 26% to $2.9 billion on demand for Ryzen processors. Even the gaming business, long the sleepy corner of the company, grew 11% to $720 million.
And the growth reached the bottom line. Non-GAAP (adjusted) earnings per share rose 43% year over year to $1.37, compounding faster than revenue itself. Adjusted gross margin came in at 55%.
The bar Tuesday has to clear Management's own guidance frames what Tuesday needs to deliver. AMD guided for second-quarter revenue of about $11.2 billion, plus or minus $300 million, implying roughly 46% year-over-year growth -- an acceleration from the first quarter's 38%. It also guided for adjusted gross margin of about 56%, a point above the first quarter's level.
Put another way, the company itself set the bar at faster growth, again. And since data center is now more than half of revenue and growing far faster than the rest, the segment's number on Tuesday is effectively the whole test. So, can the 57% data center growth rate hold, or even climb, as the year goes on?
To justify a price near 54 times forward earnings estimates, AMD's profits would need to keep compounding at a rapid pace for years, not quarters. That is possible. And AMD's own guidance suggests its momentum carried through the second quarter.
But the bar is high, I think, in a way the price-to-earnings ratio makes obvious. At 162 times the earnings the chipmaker has already produced, years of that improvement are effectively priced in.
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But if data center growth merely decelerates (not declines, just slows), a stock at this multiple can fall hard. The price leaves little room for an ordinary quarter.
The third-quarter guide may matter just as much as the quarter itself. A company that told investors to expect 46% growth needs its next forecast to hold the pace, and any step-down in the implied growth rate could weigh on the stock more than the reported numbers do.
To be fair, AMD has cleared every bar set for it lately. Revenue growth has stepped up from 38% toward a guided 46%, margins are widening, and earnings are compounding faster than sales.
Ultimately, though, I'm not buying the stock ahead of the report. The business is performing wonderfully, but at 54 times forward estimates, that performance is the starting assumption rather than the upside. If Tuesday's report shows data center accelerating again and the third-quarter guide holds the pace, I'd revisit my thinking, even at a higher price. I'll wait for the numbers first.
Nvidia čelí rostoucímu tlaku na CUDA, protože AI nástroje a konkurence mohou její software snáze napodobit. Firma ale tvrdí, že její plně integrovaný hardware a software zůstává silnou výhodou.
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Nvidia founder and CEO Jensen Huang. Bloomberg/Getty Images Nvidia's biggest competitive advantage is no longer as untouchable as it once seemed.
For two decades, Nvidia's crown jewel wasn't just chips; it was the software that turned them into the building blocks of AI, known as CUDA.
Short for Compute Unified Device Architecture, CUDA is the brainchild of longtime Nvidia executive Ian Buck, who heads high-performance computing. It took years to build, with ready-made code for common AI tasks, tools to find bugs, and software that lets thousands of chips work together to train models.
Now, some believe AI could eventually automate one of the industry's hardest jobs: building the software that powers AI itself.
The industry is at an important threshold, says Jeremy Nixon, a former Google Brain researcher and the founder of AI software startup Infinity. He told Business Insider his startup used AI coding agents to recreate CUDA-like software for the chip startup D-Matrix in 10 hours — evidence, he said, that one of Nvidia's biggest moats is being crossed.
Infinity founder and CEO Jeremy Nixon. Infinity.inc The pressure doesn't only come from startups. Cloud giants like Google, Amazon, and Microsoft have spent years building software around their own AI chips, while OpenAI and Anthropic have recently demonstrated AI models capable of generating system software.
DeepSeek founder Liang Wenfeng recently said that coding agents, along with his startup's own programming language TileLang, have made AI software substantially easier to build.
Coding agents aren't just helping challengers.
Nvidia said developers increasingly use CUDA's code libraries to build AI applications, and that it also "uses AI coding agents to develop CUDA faster and validate at greater scale," said Ankit Patel, Nvidia's vice president of developer ecosystem.
Inference could change the CUDA equationIf CUDA's first advantage was software, the second is everything built on top of it. Millions of lines of code and internal workflows have been developed by companies, creating a powerful lock-in effect that makes switching to alternatives costly and cumbersome.
Internal documents at Amazon identified CUDA as a major roadblock to adoption of its Trainium and Inferentia AI chips, Business Insider previously reported.
CUDA's age is both an advantage and a constraint, said Chris Lattner, cofounder and CEO of Qualcomm-owned AI software startup Modular. Originally built for gaming long before the AI boom, CUDA carries layers of legacy technology, "like Microsoft Windows trying to fit onto a phone," he said.
Modular cofounder and CEO Chris Lattner. Modular Others say AI's shift from training toward inference — where models answer requests and draw conclusions — creates another threat.
With this evolution, companies care less about maximizing performance with the most powerful chips and more about running AI profitably, said Marshall Choy, chief business officer of Korean AI chip startup Rebellions.
This could result in greater demand not only for specialized hardware but for software that can run across different chips. If companies can switch between chips without rewriting software, that reduces one of CUDA's biggest lock-ins.
"That's where the CUDA moat from Nvidia gets broken because CUDA is no longer a factor in the inference side," Choy said. "It's an open source play."
Nvidia said that its tightly integrated hardware and software offerings have become more valuable as AI models get put to work.
"As AI shifts toward inference and agentic workloads, the need for deep, full-stack optimization only grows," Patel said.
A shift toward specialized chips and software has Wall Street increasingly questioning Nvidia's CUDA advantage, said Luke Lango, chief technology analyst at InvestorPlace. He said Nvidia's stagnant stock price over the past year reflects some of these concerns.
Nvidia's moat isn't disappearing — it's shiftingNot everyone agrees that coding agents are eroding CUDA's edge. Some believe they could ultimately strengthen it instead.
Though agents make it easier to generate software, AI-generated code still has to be verified and optimized, said Bing Xu, founder of AI software startup INT21. He believes CUDA has the deepest ecosystem of verification tools and other features that help coding agents work more efficiently.
As agents become more common, he said, that ecosystem will become CUDA's next moat.
"Agents can generate a lot of code in a short time, but verification is the biggest bottleneck," said Xu, whose last AI chip software startup, HippoML, was acquired by Nvidia. He left the chipmaker in April to build INT21.
INT21 founder and CEO Bing Xu. INT21 While coding agents do make it easier to build chip software, the improvement is incremental, Lattner said.
"The hype is not complete nonsense, but it is very overblown," he said, adding that writing code is only a small part of building software compared to more complex tasks like optimizing it for production — a critical task because software that maximizes a chip's performance reduces the cost of running AI at scale.
Chip software is also something of a niche field, often worked on by elite engineers, Lattner said, giving coding agents far fewer examples to learn from than, for instance, app development, where AI has been trained on vast amounts of public code.
And while AI may help rivals catch up, Nvidia benefits from the same technological shifts, Xu said. Whether coding agents weaken CUDA depends on whether competitors catch Nvidia faster than it can gain new ground.
The world's dominant chipmaker is "not sleeping or keeping still," Xu said.
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Geoff Weiss You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Geoff Weiss is a senior reporter on Business Insider’s tech team, where he writes about AI startups and Y Combinator, the intersection of AI and the media industry, and workplace dynamics within top AI labs and chip companies.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at [email protected], on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely.Selected stories:Nvidia crushed its quarter — and CEO Jensen Huang said in a leaked all-hands that 'the market did not appreciate it'Nvidia will foot the bill for Trump's new visa fees. Here's what CEO Jensen Huang told staff.Massive AI salaries and RTO are fueling a real estate boom in San Francisco: 'It's going to rain money'The AI talent wars are ricocheting across startups. Here's how they're competing with Big Tech.
P&G pro fiskální rok 2026 čeká organický růst tržeb o 1 % až 3 % a core EPS 6,89 až 7,11 USD, tedy pod konsensem trhu. Management zároveň varuje před zhruba 1 miliardou USD nákladových tlaků.
Procter & Gamble (PG +0.37%) shares trade near $144 as of this writing, only about 5% above their 52-week low of $137.62. At that price, the consumer staples giant behind Tide detergent and Pampers diapers yields a little over 3%.
A beaten-down blue chip with a yield like that would usually have me interested. But the guidance P&G issued alongside its fiscal 2026 fourth-quarter report last week explains why I'm not buying yet.
Image source: Procter & Gamble.
A $1 billion cost problem For fiscal 2027 (the 12 months ending next June), management expects organic sales growth of 1% to 3% and core earnings per share of $6.89 to $7.11. The midpoint of that range, $7.00, implies growth of less than 2%.
Even the high end implies just 3%.
And the guide came in slightly below what analysts were expecting. That small gap isn't what bothers me, though. What bothers me is the reason for the soft outlook, which management quantified in unusual detail.
P&G expects about $1 billion in after-tax headwinds from higher raw-material, energy, and transportation costs in fiscal 2027. Higher net interest expense adds another $150 million, lower non-operating income another $150 million, and unfavorable currency about $50 million. Altogether, management says, that's a $0.56-per-share drag -- about 8 percentage points of core earnings-per-share growth wiped out before the year begins.
Of course, a drag that size also says something positive about the business underneath. Strip out those headwinds, and P&G would be growing core earnings per share at about 10%.
But investors don't get to strip them out. Those are real costs, and management expects to absorb them all year.
The recent results show the strain already. In the fiscal fourth quarter (the period ended June 30), net sales rose 2% year over year to $21.2 billion, but organic sales, which exclude the effects of currency and acquisitions, were flat. Core earnings per share of $1.43 declined 3% year over year. The full fiscal year showed the same pattern in slower motion. Net sales rose 3% to $87.0 billion, while organic sales grew just 1% -- and all of that growth came from pricing, with volume and mix unchanged.
The cadence worked the wrong way, too, decelerating from 1% organic growth for the year to flat in the fiscal fourth quarter.
That last detail matters most to me. A consumer products company that grows only by raising prices, while unit volumes sit flat, is arguably testing the limits of its pricing power.
CEO Shailesh Jejurikar called fiscal 2026 "a year of foundation building" in the earnings release. The fiscal 2027 outlook suggests the payoff from that foundation is still a year or more away.
What would get me to buy To be fair, P&G pays investors well to wait. The company returned $10.2 billion in dividends and $5.0 billion in share repurchases during fiscal 2026, and it plans roughly the same combination (about $10 billion of dividends and $5 billion of buybacks) for fiscal 2027. The payout looks thoroughly affordable against the company's earnings.
The valuation, however, is only average. Shares trade at about 21 times P&G's fiscal 2026 core earnings of $6.89 per share, and about 20.5 times the midpoint of the new guidance.
That's not an expensive multiple. But it's not a bargain for a business guiding to low-single-digit growth, either. Plenty of companies growing earnings faster can be had in the same valuation neighborhood.
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So here's what would change my mind. First, evidence that volumes are growing again: A quarter where organic sales growth comes from consumers buying more products, not just paying more for them, would tell me the foundation building is working.
Second, a better price. At about $130 per share, the stock would yield close to 3.4% at the current payout, enough compensation, in my view, to wait out the cost cycle comfortably.
The wait could end up being short. Commodity costs could ease faster than management expects, and pricing pressure on consumers can fade as quickly as it arrived. P&G could simply out-earn its own cautious guide.
Ultimately, though, neither of my conditions is met today. The dividend looks safe, the business is durable, and P&G may well emerge from this stretch leaner. I'm comfortable being patient here, waiting for one of those two signals.
BioNTech plant building in Marburg, Germany, May 6, 2026. REUTERS/Fabian Bimmer Purchase Licensing Rights, opens new tab
CompaniesAug 3 (Reuters) - German biotech firm BioNTech (22UAy.DE), opens new tab said on Monday that Sobi's (SOBIV.ST), opens new tab CEO Guido Oelkers will succeed Ugur Sahin as its chief executive.
Oelkers will take on the role from February 1, 2027 at latest, the company said, after serving as CEO at the Stockholm-listed biopharmaceutical company since 2017.
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BioNTech announced in March its two co-founders and leading executives, Sahin and Chief Medical Officer Oezlem Tuereci, would leave the COVID-19 vaccine maker by the end of the year to start a new venture.
Reporting by Linda Pasquini, Editing by Ludwig Burger
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Greg Abel v Berkshire Hathaway snížil podíl v Chevronu o 35 % a výrazně zvýšil sázku na Alphabet, který se stal novou pátou největší pozicí konglomerátu.
For the first time in more than half a century, the trillion-dollar conglomerate that Warren Buffett helped build, Berkshire Hathaway (BRKA +0.21%)(BRKB +0.36%), is in uncharted territory. The famed Oracle of Omaha retired as CEO on Dec. 31 (he remains chairman of the board), handing the keys to Berkshire's $355 billion investment portfolio to longtime protégé Greg Abel.
Abel wasted little time making his presence felt. During the first quarter, he sent 16 stocks to the chopping block and reduced six other positions, including integrated oil and gas titan Chevron (CVX +2.35%). But Berkshire's new boss also found the new apple of his eye in Google parent Alphabet (GOOGL +6.73%)(GOOG +6.88%).
Warren Buffett retired as Berkshire Hathaway's CEO on Dec. 31, 2025. Image source: The Motley Fool.
Chevron has been a continuous holding for Berkshire for nearly six years. However, the 45,780,506 shares that were dumped during the first quarter represent the largest single-quarter reduction in shares since Buffett opened the position in 2020.
Simple profit-taking is one possible reason Abel slashed Berkshire's stake in Chevron by 35% to begin the year. Between the start of 2026 and the end of the first quarter, Chevron's shares rallied from $152 to $207. For a notoriously cyclical company, this is a mammoth move. It would also have delivered triple-digit percentage returns since Buffett's initial purchases in 2020.
But there may be more to this story than just profit-taking.
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Chevron, like virtually all drilling companies, benefited from surging crude oil prices brought on by the Iran war and the closure of the Strait of Hormuz. Given that energy supply disruptions are historically short-lived, Abel may have viewed this as an opportune time to lock in gains.
Additionally, Chevron is no longer historically inexpensive. After closing out 2023 and 2024 at forward price-to-earnings (P/E) ratios of 11 and 10, respectively, Chevron's forward P/E was approaching 18 by the end of the first quarter. Abel is a stickler for value, and Chevron's value proposition has faded a bit.
Image source: Getty Images.
Berkshire's new boss can't stop buying Alphabet On the other hand, Abel bought 36,403,656 shares of Alphabet's Class A shares (GOOGL) in the March-ended quarter and opened a new position in the Class C shares (GOOG) by purchasing 3,585,215 shares. These purchases more than tripled Berkshire's stake in Google's parent company.
But he wasn't finished. On June 1, Alphabet announced what would become an $84.75 billion equity offering, $10 billion of which was to be purchased by Berkshire in a private placement ($5 billion of each share class). As of the end of July, Alphabet was a nearly $30.8 billion position, and Berkshire's new No. 5 holding.
The beauty of Alphabet is that its foundation is built atop a sustainable moat. The Google search engine accounted for over 91% of internet search traffic in July. Couple this with YouTube, the second-most-visited social site behind Google, and you have a recipe for exceptional ad pricing power.
-- Fiscal.ai (@fiscal_ai) July 30, 2026 However, it's Alphabet's artificial intelligence (AI) ambitions that can drive its valuation and cash flow significantly higher. Since Alphabet integrated generative AI solutions and large language model capabilities into Google Cloud, the world's No. 3 cloud infrastructure service platform by total spend, sales growth for this high-margin segment has gone parabolic.
Alphabet is to Greg Abel what Apple was to Warren Buffett.
Meta ve 2. čtvrtletí zvýšila tržby o 28 % na 60,8 miliardy USD, ale EPS klesl o 13 % na 6,18 USD. Zuckerberg navíc naznačil možnost pronájmu přebytečné AI výpočetní kapacity.
Meta Platforms (META +3.28%) released its second-quarter earnings report on July 29. The company's financial results weren't bad, at least as long as we stop at the top line. Meta's revenue grew by 28% year over year to $60.8 billion. But the tech leader's earnings per share dropped 13% year over year to $6.18, while its free cash flow came in at $784 million, down almost 91% from the year-ago period.
Meta Platforms is pouring a small fortune into its artificial intelligence (AI)-related ambitions, and it is impacting its margins and bottom line. It's no wonder that many people are running for the exit. However, recent comments from Meta's CEO, Mark Zuckerberg, should give investors some confidence that the company might eventually reap the benefits of these investments.
Image source: The Motley Fool.
Meta Platforms' cloud business is in the works There have been reports in recent weeks suggesting that Meta Platforms is planning to rent out excess AI computing capacity to other data centers. Although it seems like a promising business endeavor, investors naturally had many questions. Here is just one of them: Can Meta Platforms successfully join the crowded cloud computing market and actually challenge the leaders in the niche, including the likes of Amazon (AMZN +15.32%), Microsoft (MSFT +3.02%), and Alphabet (GOOG +6.88%) (GOOGL +6.73%)? During the company's second-quarter earnings conference call, Zuckerberg addressed this concern, at least to some extent. Talking about the opportunity to sell computing capacity, he said:
We're getting a lot of offers for compute at a significant premium over what we paid for it.
These aren't unsubstantiated claims either. Meta Platforms is reportedly in early talks to rent out AI computing power to Anthropic, a privately held company and a leader in developing large language models. The deal is far from done, but the fact that it is in the works at all tells us something: Meta Platforms is exploring launching a cloud computing business because it sees demand for the kinds of services it hopes to provide.
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If the company can move forward with these plans, it may help justify the significant investments it is making in AI. This business could be a powerful growth driver over the medium term. According to some estimates, AI infrastructure spending will exceed $1 trillion by 2029, up from just $318 billion last year. Some of this spending will flow right into the kinds of services Meta Platforms wants to offer.
What does all this mean for the stock? Meta's core advertising business remains strong and continues to improve thanks to AI. The company also boasts a deep ecosystem, with 3.60 billion daily active users across its websites and apps, providing significant monetization opportunities. The tech giant's proposed cloud business could further boost sales and accelerate earnings growth. Since much of the investment has already been made, it would almost certainly lift the company's margins. This new growth opportunity is another reason investors should consider buying the stock on the dip.
Prosper Junior Bakiny has positions in Alphabet, Amazon, and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool has a disclosure policy.
Tesla minula očekávání Wall Street zhruba o 38 % a provozní zisk klesl na asi 400 milionů USD z 923 milionů USD před rokem. Elon Musk ale dál sází na autonomní řízení, robotaxi, Optimus a AI infrastrukturu.
The latest earnings report from Tesla (TSLA +0.76%) wasn't pretty. The company missed Wall Street's expectations by roughly 38%, operating profit fell to about $400 million from $923 million a year earlier, and free cash flow swung to negative $1.1 billion as capital spending surged. Not surprisingly, the stock sold off sharply. Yet CEO Elon Musk sounded remarkably unconcerned.
Instead of focusing on weak quarterly results, Musk emphasized what Tesla is building: autonomous driving, robotaxis, Optimus humanoid robots, and the AI infrastructure needed to support those businesses. Management is intentionally spending heavily today because it believes those investments could create substantially larger revenue streams over the next decade. So the question is: Is that confidence justified?
Musk's view The automotive business is clearly under pressure. Vehicle pricing remains competitive, regulatory credit sales have declined, and margins continue to face pressure. Tesla's automotive gross margin fell to roughly 16.3% during Q2, well below the levels investors became accustomed to just a few years ago. Meanwhile, the company continues spending billions on AI infrastructure, compute capacity, factories, and robotics, helping drive free cash flow to negative $1.1 billion during the second quarter.
If Tesla were simply an electric vehicle manufacturer, those trends would be concerning enough to justify a much lower valuation. But that's not how Musk wants investors to view the company.
Image source: Getty Images.
His argument is that today's earnings tell investors very little about Tesla's long-term value because the company's biggest opportunities haven't yet begun contributing meaningful profits. Robotaxis remain in the early stages of deployment, Optimus is still under development, and Tesla continues investing aggressively in AI training infrastructure that management believes will support both businesses.
Big promises Of course, that doesn't mean investors should simply ignore the disappointing quarter. Tesla has a long history of making ambitious promises years before they become commercially meaningful. Some have eventually materialized. Others have taken much longer than originally projected. As a result, you should probably discount future projections until they begin showing up in measurable financial results.
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This is especially important because Tesla's valuation still depends heavily on businesses that remain largely unproven at scale. Wall Street appears increasingly unwilling to assign premium multiples based solely on future possibilities, which helps explain why the stock reacted so negatively despite Musk's optimistic tone.
That said, if you're long on Tesla, the investment thesis hasn't fundamentally changed. Tesla is no longer just about electric vehicle sales. It's increasingly a bet on whether the company can successfully commercialize autonomous transportation, robotics, and artificial intelligence before competitors catch up. And that makes quarterly earnings less important than actual execution.
Missing earnings by 38% certainly isn't good news. But if Musk ultimately delivers profitable autonomous driving and robotics businesses, this quarter will likely be remembered as little more than an expensive investment period. If those initiatives disappoint, however, the market may conclude that the automotive business alone isn't enough to justify Tesla's premium valuation.
SummaryMicrosoft delivered robust fiscal Q4 results, with EPS of $4.74 and revenue of $90 billion, both beating consensus estimates.MSFT's cloud-driven growth, especially Azure’s 39% YoY increase, underpins a reiterated "Buy" rating and a 20%+ intrinsic value upside.Heavy capex into AI infrastructure and $130 billion in data center leases signal aggressive long-term positioning despite a near-term FCF dip.Technicals show mixed signals, but strong RSI momentum and operational strength suggest a long-term low may be in place. tupungato/iStock Editorial via Getty Images
With the bulk of mega-cap tech earnings in hand, it’s clear that Microsoft (MSFT) and Amazon (AMZN) were the winners. The pair of AI hyperscalers posted prodigious capex numbers, but the street did not punish shares. Cloud revenues were solid, and
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Novo Nordisk získává zpět půdu díky pilulce Wegovy, která si v USA drží náskok před Lilly. Investoři čekají, zda při výsledcích za 2. čtvrtletí 5. srpna potvrdí obrat.
SummaryCompaniesAnalysts say Novo could lift full-year guidanceInvestors look for signs of sustainable turnaroundU.S. obesity market could be worth $100 bln by end of decadeNovo Nordisk reports Q2 earnings on August 5Novo faces headwinds to expand beyond obesity, diabetesLONDON, Aug 3 - Novo Nordisk (NOVOb.CO), opens new tab investors have found little cause for optimism during a bruising two-year period of profit warnings, leadership upheaval and a sliding share price as rival Eli Lilly (LLY.N), opens new tab streaked ahead. Now they may have reason for hope.
Despite Novo having lost ground in injectable GLP-1s in recent years, the Danish obesity drugmaker is getting a boost from its new Wegovy weight-loss pill that is holding onto its lead against Lilly's more recently launched Foundayo.
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The pair are battling for dominance in the obesity drug market, which analysts expect to be worth more than $100 billion by the end of the decade in the United States alone.
Novo's shares have climbed some 35% from a March low, with the company looking to go on the offensive - including with a divisive court case against Lilly over what it calls misleading marketing in the vital U.S. market.
"Novo is a different Novo today than a year ago," said Morten Gregersen, chief portfolio manager at Danish asset manager Formuepleje, a Novo shareholder. "They're much more consumer-oriented and they've become much more aggressive."
NOVO VS LILLY: COMEBACK STORY?Analysts and shareholders will look for clues from management that Novo's turnaround is durable when the company reports second-quarter results on August 5, and that it can keep pace with Lilly over the longer term.
The U.S. drugmaker reports results on the same day, and analysts broadly expect robust sales of its blockbuster weight-loss and diabetes injections, Mounjaro and Zepbound.
Recent IQVIA prescription data suggests demand for oral Wegovy remains stronger than analysts initially expected and well above Lilly's Foundayo, although Barclays noted the figures understate total Foundayo demand because they exclude certain distribution channels.
"One of the concerns had been that orforglipron from Lilly was going to come along and make things a lot tougher for oral Wegovy," said Barclays analyst James Gordon, using the generic name for Foundayo. "But so far... orforglipron doesn't really seem to have impacted the product."
ARE WE AT AN INFLECTION POINT?Novo spent 2025 on the defensive as mounting U.S. pricing pressure and competition led to four guidance cuts and wiped billions from its market value. The company replaced its CEO and launched a restructuring that cut 9,000 jobs.
This year, Novo has regained some momentum with oral Wegovy, which it launched in the U.S. in January, firing hopes that the worst may be behind it.
The pill, however, has yet to alter the broader picture. After overtaking Wegovy injections last year, Lilly's Zepbound has maintained a commanding lead in the U.S. market, with weekly prescriptions more than double those of Novo's drug in recent months. Novo's ability to broaden beyond obesity and diabetes is also under scrutiny after a recent heart disease drug trial fail.
"The real question is...when is the inflection point? Which particular quarter looks like a trough, and then do we see growth back from that point?" said HSBC analyst Rajesh Kumar.
He said expectations for 2026 had improved, though that partly reflected generic competition for Wegovy arriving later than previously expected, pushing some of the pressure into 2027 rather than eliminating it.
NOVO NORDISK LOOKS TO 'MAKE SOME NOISE'Novo and Lilly's rivalry has spilled into the courts. Last month, Novo sued Lilly in a U.S. federal court, accusing it of false advertising for using comparisons of efficacy that omit its newer, higher-dose Wegovy. Lilly has denied the allegations.
BMO analyst Evan Seigerman said that Novo was being more "aggressive" and trying to "make some noise", even if the suit was unlikely to make a huge difference.
"It's kind of like using a lawsuit as a bit of publicity to shift opinions," he said.
Others like Sven Borho, managing partner at Orbimed, said that the suit would struggle to change the perception in the U.S. that Zepbound was superior to Wegovy. Instead, he said Novo needed to strike deals in the obesity space to persuade the market that they can compete with Lilly long term.
Analysts said Novo could edge up its full-year outlook, though the main positive may be a lack of crisis and drama.
"Even if there is no guidance raise, it will be comforting to know that the company has left the era of profit warnings," said Markus Manns, portfolio manager at Union Investment.
Reporting by Maggie Fick and Bhanvi Satija; Additional reporting by Stine Jacobsen and Michael Erman; Editing by Adam Jourdan and Kirsten Donovan
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Maggie is a Britain-based reporter covering the European pharmaceuticals industry with a global perspective. In 2023, Maggie's coverage of Danish drugmaker Novo Nordisk and its race to increase production of its new weight-loss drug helped the Health & Pharma team win a Reuters Journalists of the Year award in the Beat Coverage of the Year category. Since November 2023, she has also been participating in Reuters coverage related to the Israel-Hamas war. Previously based in Nairobi and Cairo for Reuters and in Lagos for the Financial Times, Maggie got her start in journalism in 2010 as a freelancer for The Associated Press in South Sudan.
Bhanvi is a London-based reporter covering European pharmaceutical companies and the healthcare industry. She previously covered U.S. health and pharma firms, with a focus on the new weight loss drugs that are transforming the obesity treatment space. Her coverage includes a trend piece on the underuse of their weight-loss drugs among men, increased interest in therapies being developed for preservation of lean mass, and a scoop on gene therapy maker Sarepta defying an FDA order to stop shipping its muscular dystrophy treatment.
Snap Inc. (NYSE:SNAP) will release its second quarter earnings report after the closing bell on Monday, Aug. 3.
Analysts expect the Santa Monica, California-based company to report a quarterly loss of 12 cents per share, versus a loss of 16 cents per share in the year-ago period. The consensus estimate for Snap’s quarterly revenue is $1.53 billion. It reported $1.34 billion last year, according to Benzinga Pro.
On May 6, Snap posted better-than-expected first-quarter results.
Snap shares closed at $4.69 on Friday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying SNAP stock? Here’s what analysts think:
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Greg Abel nasměroval Berkshire Hathaway víc k nákupům celých firem než akcií. Sám prosadil akvizice za 6,8 miliardy USD, zatímco do akcií vložil pod 3 miliardy USD.
Greb Abel's Berkshire Hathaway (BRKA +0.21%) (BRKB +0.36%) is shaping up to be similar to Warren Buffett's, but with the new CEO's signature decisive, bold stamp.
One of the features that stands out in his approach is a focus on acquiring whole companies. That's not anything new; Berkshire Hathaway owned almost 200 businesses outside of its stock portfolio before he became CEO at the beginning of the year. But with its record nearly $400 billion stockpile, Abel is finding greater opportunity in buying whole businesses than stocks.
Let's look at what that means for shareholders.
What's happening at Berkshire Hathaway with Abel at the helm Abel demonstrated that he's taking a new direction with his portfolio moves in the first quarter. He sold 15 positions, concentrating on its highest-conviction stocks, and bought two new ones: Delta Air Lines and Macy's. Those positions are worth $2.6 billion and $55 million, respectively.
He also tripled the company's position in Alphabet, adding more than $10 billion in Alphabet stock, although Buffett has taken credit for the Alphabet purchase.
Image source: Getty Images.
The company has also purchased two whole subsidiaries since Abel took office. It completed the purchase of OxyChem from Occidental Petroleum for $9.7 billion in January, a deal started when Buffett was still CEO, and it acquired homebuilder Taylor Morrison in June for $6.8 billion.
Buffett praised Abel's dealmaking abilities, saying that Berkshire's new CEO spearheaded the acquisition. "Greg did that faster than I could have done it, smoother than I could have done it, and I never talked to the CEO. He has launched."
The implication is that Abel put more of the company's money into buying whole businesses -- $6.8 billion -- than into buying stocks -- under $3 billion -- in the deals he worked himself.
With $398 billion in cash, there are many opportunities Investors can speculate about why Berkshire is keeping so much cash, but Buffett said that he simply doesn't see great opportunities in the market. It is certainly richly valued today, and it's driven by artificial intelligence (AI) upstarts, some of which have high valuations and no profits. Those aren't the kinds of investments Buffett or Abel looks for.
With $398 billion in cash, Abel is finding value in whole companies instead. When he buys businesses, their financials get folded into Berkshire's, and shareholders gain from operating results rather than portfolio moves.
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This strategy also removes some optionality from the business; you can trade stocks for cash more easily than sell companies. Berkshire also looks to buy companies it can hold forever, and it rarely sells a subsidiary.
Although it's only been one quarter, and it's too early to say this will be Abel's pattern, it dovetails with this model of sticking to bigger plays with greater concentration. And shareholders, as well as Berkshire Hathaway fans, may see more of this activity driving the company's work.
PrismML uvedla Bonsai 27B, bezplatný AI model, který běží lokálně na iPhone 17 Pro a zachovává asi 90 % původního výkonu. Pro Apple je to posun pro on-device AI.
On July 14, a start-up with Caltech roots, PrismML, released Bonsai 27B, a free artificial intelligence (AI) model compressed enough to run locally on an Apple (AAPL -7.35%) iPhone 17 Pro. According to the company, it retains roughly 90% of the original model's performance.
A capable AI small enough to run on an iPhone is great news for consumers. PrismML's CEO recently told CNBC that Apple is in "very early" discussions about the technology. In time, free, local, open-weight AI could become an à la carte menu for consumers, and Apple's own silicon was designed to run them.
Image source: Getty Images.
A serious model that finally fits on a phone A traditional 27-billion-parameter model cannot fit in a phone's usable memory. At 3.9 gigabytes, Bonsai is built on Alibaba's open-weight Qwen3.6 and can run on an iPhone 17 Pro, as well as on iPad, Mac, and PCs.
Shrinking open models is not new, but compressing one of this class while retaining its performance is. For Apple, whose latest chips were designed to run AI on-device, this could raise the stakes for its internal development of foundation models.
The A19 and A19 Pro chips in the latest iPhones feature neural accelerators, which the company says provide a significant boost to AI performance. On the company's second-quarter earnings call in April, management described the Mac as "the best platform for AI," with its silicon capable of running advanced AI like never before.
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Who's going to monetize consumer AI? Most consumer AI usage is free. OpenAI surpassed 900 million weekly active users in February, with roughly 50 million paying subscribers and a conversion rate of around 5.5%. To the extent the frontier labs counted on consumers paying for AI inference, that opportunity may shrink as open-weight alternatives continue to improve and take share.
Apple's position is different. Its business is selling devices, so a local-AI wave means more memory and capacity, which raises the cost of goods sold for the hardware maker.
Its own AI execution has been lackluster so far. The previously delayed and rebuilt Siri fell short in internal testing in February, though management sounded optimistic on its July 30 earnings call. Siri AI has been in public beta testing for a few weeks, and the feedback has been positive.
In July, Apple sued OpenAI in federal court, alleging trade-secret theft tied to former engineers who joined the lab, including claims that trade secrets were taken to help OpenAI build its own devices.
Apple's lawsuit against OpenAI puts the consumer AI fight front and center. As expected, the company remained silent about the lawsuit during its earnings call.
Apple has the silicon. With breakthroughs such as PrismML's, consumers may not have to wait much longer for capable AI that can run offline and keep data on the device without a monthly fee.
Alibaba představila Qwen3.8-Max, svůj dosud největší model umělé inteligence s 2,4 bilionu parametrů. V žebříčku textových modelů se hned zařadil mezi nejlepší čínské systémy a v obrazových modelech skončil celosvětově druhý.
Qwen and Alibaba logos are seen in this illustration taken, January 29, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesQwen3.8-Max has 2.4 trillion parameters, approaching Kimi K3's sizeIt shoots up AI text and visual model leaderboards, lagging only Anthropic offeringsAlibaba says new model completed software engineering project in 16 daysBEIJING, Aug 3 (Reuters) - China's Alibaba (9988.HK), opens new tab on Monday unveiled what it said is its largest and most capable artificial-intelligence model, the Qwen3.8-Max, which is not far behind in size when compared with an offering from domestic rival Moonshot AI launched last month.
Chinese tech companies — a huge force in open-weight AI models globally — are locked in a fierce and fast-moving battle to build more powerful systems without making them prohibitively expensive to run.
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Qwen3.8-Max has 2.4 trillion parameters, the numerical settings a model learns from data and uses to recognise patterns, generate answers, and carry out tasks. Moonshot's Kimi K3 has 2.8 trillion parameters.
A higher figure does not automatically make a model better, but it has become a closely watched measure of the scale of the computing and data behind advanced AI systems.
Chinese tech companies are keen to publish parameter count to help their models gain traction among the developer community. Their models tend to be open-weight, meaning the underlying learned settings that allow developers to run or adapt the system are available for download.
By contrast, OpenAI, Anthropic and Google (GOOGL.O), opens new tab do not publish parameter count for their closed-source models.
Qwen3.8-Max was unveiled on crowdsourced, model-comparison platform Arena.AI, where it immediately became the highest-ranking Chinese model in terms of text models, though it still lags Claude Fable 5 and three Opus variants which are all from Anthropic.
But on Arena.AI's leaderboard for AI models that analyse images and other visual material, Qwen3.8-Max ranked second globally, only behind a Claude Fable 5 variant.
Both Qwen3.8-Max and Kimi K3 can handle text, images and video, and process up to 1 million tokens at a time.
Tokens are chunks of data, often parts of words or short words, and a big figure means the model can take in large amounts of material in one go, such as long legal files, a large software codebase or hundreds of pages of documents.
Alibaba said its model uses a "mixture-of-experts" design, which divides work among specialised parts of the system instead of switching on the entire model for every request. Only 95 billion parameters are used at a time, reducing costs and response delays.
The tech giant said the model completed a software-engineering project in 16 days.
The Qwen3.8-Max is due to be released next week through Alibaba Cloud's Model Studio platform.
Reporting by Eduardo Baptista; Editing by Edwina Gibbs
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Eduardo Baptista is a Senior Correspondent for Reuters based in Beijing, covering China’s technology, space, and automotive industries. He has led enterprise and investigative reporting on China’s military-linked companies, artificial intelligence and semiconductor supply chains, as well as macroeconomic and industrial policy. Baptista has reported from China for nearly a decade and holds a BA in History from the University of Cambridge.
Nvidia se připojila k nové AI Materials Foundry od CuspAI, která má urychlit objevování materiálů pro polovodiče a další technologie. Firma zatím neoznámila žádné očekávané tržby ani závazek k nákupu.
Nvidia stock NASDAQ:NVDA closed at $200.75 on Friday, rising 2.9% as strong cloud results from Microsoft and Amazon revived confidence in artificial-intelligence infrastructure spending.
Yet another, less visible part of the chipmaker’s growth strategy is emerging far from the data centres that dominate Wall Street’s attention.
Nvidia has joined CuspAI’s new AI Materials Foundry, a global network seeking to combine generative AI, accelerated simulations, scientific data and laboratory testing to discover materials for semiconductors, energy and advanced manufacturing.
The initiative is unlikely to change Nvidia’s earnings soon, but could extend the company’s reach into the scientific tools used to design the physical foundations of future technology.
CuspAI launched the foundry alongside a $450 million Series B fundraising that valued the Cambridge-based company at $2.6 billion.
More than 45 founding partners include Nvidia, Meta, Samsung Electronics, Applied Materials, Hyundai Motor Group, Tokyo Electron and Lam Research.
The group aims to shorten a materials-development process that can take years.
CuspAI’s approach covers generating candidate materials, simulating their properties, planning synthesis, validating results in laboratories and eventually preparing successful compounds for production.
Nvidia’s role is strategically important because those simulations demand substantial computing power.
Its ALCHEMI platform provides GPU-accelerated microservices and software tools for chemistry and materials research.
Nvidia says its batched geometry-relaxation technology can accelerate certain material-stability simulations by as much as 100 times.
The immediate stock argument is not that CuspAI will suddenly become a major customer. No expected revenue or purchase commitment from the partnership has been announced.
The opportunity is that materials discovery could become another specialised workload tied to Nvidia processors, CUDA-X software and cloud infrastructure.
Wall Street’s Nvidia thesis remains firmly elsewhereAnalysts’ bullish Nvidia calls still rest on established strengths rather than the materials alliance.
Bank of America analyst Vivek Arya said investors were overlooking an “enhanced” buying opportunity.
Arya argued that concerns about rising memory costs and competition from custom chips underestimated Nvidia’s pricing power, scale and supply-chain commitments.
KeyBanc analyst John Vinh raised his price target to $330 from $310 and maintained an Outperform rating. His confidence reflects the competitive barriers created by Nvidia’s hardware and CUDA software ecosystem.
ALCHEMI fits that broader logic as each specialist workload added to the platform may make Nvidia harder to replace.
Bernstein analyst Stacy Rasgon also maintained a Buy rating and $315 target despite concerns about Nvidia’s increasingly interconnected AI deals.
Also read: Nvidia, Alphabet among 5 stocks that fit Jim Cramer’s favourite dip-buying rule
AI-generated materials must still survive physical testing, regulatory reviews and mass-production requirements.
Moving from a promising simulation to a commercially useful semiconductor material could take years, and many candidates will fail.
There is also a broader risk as scientific computing will matter less to Nvidia shares if spending by its largest customers slows.
Jim Paulsen warned that flat or declining US core capital spending could force a “major readjustment” among investors committed to the AI-spending story, Business Insider reported.
Microsoft and Amazon offered a more encouraging signal as their latest cloud growth showed that heavy AI investment is producing revenue, supporting continued infrastructure demand.
Amazon po silných výsledcích za 2. čtvrtletí vyskočil o 15,32 %. Nejvíc investory zaujala prognóza Andyho Jassyho, že AWS může časem dosáhnout tržeb ve výši 1 bilionu USD.
Amazon (AMZN +15.32%) shares surged after a strong second-quarter earnings report. What likely really grabbed investors' attention was CEO Andy Jassy predicting that its cloud computing unit, Amazon Web Services (AWS), could become a $1 trillion revenue business. Jassy is not known for his bold predictions, unlike Elon Musk, so this likely carried more weight with investors.
Cloud growth keeps accelerating The highlight of Amazon's quarter was once again AWS, with revenue surging 37% year over year to $42.2 billion. That was an acceleration from the 28% growth it saw in the first quarter and the 24% growth it saw in the fourth quarter. It was AWS' fastest revenue growth in nearly four and a half years (18 quarters).
Jassy said that both its artificial intelligence (AI) and chip businesses now had more than $25 billion revenue run rates, with its AI business growing by triple digits. Its backlog also grew by triple digits to $496 billion.
Operating income in the segment, meanwhile, jumped 63% to $16.6 billion. Its operating margin of 39% has now risen for four straight quarters, helped by use of its custom chips and investments in software and optimization. While Jassy said margins could fluctuate, he also said the steady rise hasn't been random.
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Amazon's e-commerce operation, meanwhile, continues to perform well. Its North America sales jumped by 16% year over year to $116.2 billion, while international sales rose 15% to $42.2 billion. Advertising continues to be a big driver, with ad revenue climbing 26% to $19.8 billion, fueled by its sponsored ad business.
The company once again saw nice operating leverage in its North American e-commerce operations, with its operating income for its North American segment jumping 21% to $9.1 billion. Its international segment saw operating income rise 15% to $1.7 billion.
Overall, Amazon's revenue jumped by 20% year over year to $200.61 billion, which easily topped the $196.47 billion analyst consensus, as compiled by LSEG. Earnings per share (EPS) more than tripled to $2.78, but they included a large gain from Amazon's investment in Anthropic, so they were not comparable to analyst estimates for EPS of $1.82.
Looking ahead, Amazon projected that its third-quarter revenue would climb to between $197 billion and $202 billion (representing growth of between 9% and 12%), which was below the $204.1 billion consensus. Adjusted for the shift in Prime Day, growth would be between 13% and 16%. Currency is expected to be an 80-basis-point drag.
Jassy also said Amazon would increase its capex budget this year, taking it from $200 billion to $220 billion, largely due to higher memory costs. He said AWS demand continues to outstrip capacity and that this will continue in 2027, while adding that "the demand we already have for 2028 is striking." Jassy topped it off by saying he sees AWS becoming a $1 trillion business in time, with strong ROIC (return on invested capital) and free cash flow.
He also went over some basic economics of the cloud business, noting that AWS should break even on its server and networking investments in two to three years, while its servers have useful lives of five to six years and it signs five-year leases. The company's data centers, meanwhile, have over 30-year useful lives, and the economics become stronger over time as Amazon doesn't have to make these upfront data center investments.
Image source: Getty Images.
Jassy has long been derided given the underperformance of Amazon's stock, despite the strong job he's done positioning both the company's e-commerce and cloud computing businesses. However, I think the vision he laid out for AWS becoming a $1 trillion revenue business and simply explaining AWS' economics really struck a chord with investors.
Even after the jump in its stock price, Amazon still trades at an attractive valuation, with a forward price-to-earnings ratio of about 31 times 2026 analyst estimates and 27 times 2027 estimates. That's still a historically low valuation for the stock and well below its retail peers Walmart and Costco. With its e-commerce business humming along and AWS gaining strong momentum, the stock still looks like a long-term buy at these levels.
IonQ ve čtvrtletí zvýšil tržby o 755 % na 64,7 milionu USD, ale trh jej stále oceňuje na 13,35 miliardy USD, zhruba 50násobek jeho výhledu pro rok 2026.
IonQ (IONQ +1.87%) closed Thursday at $35.77, up almost 12% in a single session as quantum computing stocks rallied. Even after that jump, shares of the quantum computing specialist sit about 58% below their 52-week high of $84.64. And yet the company still carries a market capitalization of $13.35 billion.
So the stock manages to look beaten down and expensive at the same time. Here's a closer look at what has to go right for today's price to work out.
Image source: Getty Images.
Growth from a very small base Highlighting why the stock attracts so much attention, IonQ's first-quarter revenue rose 755% year over year to $64.7 million, coming in 30% above the midpoint of management's own guidance. Growth like that is nearly impossible to find elsewhere in the market, and I understand why investors are drawn to it.
The composition of the revenue is encouraging, too. About 60% of it came from commercial customers rather than governments, about 35% came from international customers, and more than a third came from customers buying across product lines -- quantum computers, networking, and sensing.
The order book is filling up even faster. Remaining performance obligations, or the future revenue IonQ already has under contract, reached $470 million in the quarter, up 554% year over year.
Management raised its full-year outlook, too. It now expects revenue of $260 million to $270 million in 2026, which it says represents organic growth of more than 100% year over year.
Meanwhile, the technology keeps advancing. During the quarter, IonQ sold its first 256-qubit, sixth-generation system to the University of Cambridge, completed the first commercial demonstration of two connected quantum computers, and published its blueprint for fault-tolerant quantum computing. The company also picked up a $39 million Space Development Agency contract during the period.
"We are now moving from component-level testing to integrated, system-level testing of the full 256-qubit quantum computer," said Chairman and CEO Niccolo de Masi in the company's first-quarter earnings release.
What the price already assumes Profits are another matter. IonQ technically reported first-quarter net income of $805.4 million under generally accepted accounting principles (GAAP), but that figure was swollen by non-cash fair-value adjustments on items like warrant liabilities and investments, not by the business itself. On an adjusted basis, the company lost $0.34 per share, and its adjusted EBITDA was a $96.8 million loss. For the full year, management expects an adjusted EBITDA loss of $310 million to $330 million. The balance sheet buys plenty of time, though. IonQ ended March with $3.1 billion in cash, equivalents, and investments, enough to fund losses at this year's expected pace for several years.
Valuation is the harder problem: At $13.35 billion, the market values IonQ at roughly 50 times the midpoint of its own 2026 revenue guidance. A price like that only works if triple-digit growth continues well beyond this year.
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After all, even a far lower multiple demands enormous expansion. To trade at 10 times sales at today's market value, IonQ would need about $1.3 billion of annual revenue -- about five times the midpoint of this year's guide. Reaching that by the end of 2029 would require compounding at close to 70% a year for three more years.
However, the guidance implies the growth is already decelerating beneath the annual figure. IonQ expects revenue of $65 million to $68 million in the second quarter of 2026, roughly flat with the first quarter. And hitting the full-year range implies quarterly revenue stays near that level for the rest of 2026. In other words, this year's extraordinary growth rate is mostly a comparison against a much smaller past, not a business that is still compounding quarter by quarter.
So, is IonQ worth $13 billion today? I don't have anywhere near the conviction to pay it. The growth is impressive, and the $3.1 billion war chest gives the company years of staying power. But quantum computing remains an early market whose commercial payoff may still be years away. And a 50-times-revenue price arguably assumes IonQ converts its head start into a long stretch of compounding sales.
If the company keeps topping its own guidance while losses hold near the planned pace (the second-quarter report due Wednesday, Aug. 5, is the first chance to show it), I could warm up to the stock. For now, I'll watch from the sidelines.
CEO Redditu Steve Huffman kritizuje Google AI Overviews a tvrdí, že lidé chtějí Reddit, ne shrnutí. Zvažuje i ukončení licenční smlouvy s Googlem za 60 milionů USD.
Reddit’s CEO has begun airing his concerns about Google’s AI Overviews search feature.
That’s according to a report Saturday (Aug. 1) from Ars Technica, which said Steve Huffman addressed this issue in his latest letter to investors, arguing for Reddit’s function as “the antidote to an automated web” as artificial intelligence tools proliferate.
“AI compresses the internet into summaries,” he wrote. “Reddit delivers the opposite: deep discussions, passionate debates, and lived experiences. People don’t want a summary of Reddit; they want Reddit.”
Huffman added that while AI has made information more abundant, it has become more challenging to find context, personal opinion and first-hand accounts to help.
The Ars Technica report also cited comments Huffman made when Reddit released its latest earnings last week:
“What we see is, 10 blue links has driven tremendous value and growth to the broader ecosystem … from where we sit, AI Overviews has yet to make a similar level of positive impact, and I think that’s consistent across the broader landscape, right? As businesses, publishers, retailers, we’re still looking for that win-win.”
Ars Technica also points to recent reporting from The Wall Street Journal saying that Reddit was considering ending its $60 million licensing deal with Google.
The report also cited a 2025 Pew Research study which found that Google’s AI Overviews cut referrals to sites like Reddit by nearly half compared to the “10 blue links” system, but added that Google had been diverging from that arrangement before AI Overviews was in the picture.
A spokesperson for Google told Ars Technica the Pew study used a flawed methodology and skewed queryset that is not representative of Search traffic. The search giant later published a blog post which said that its “total organic click volume from Google Search to websites has been relatively stable year-over-year.”
Google in May introduced what it deemed its largest upgrade to Search in more than 25 years, a redesigned interface accepts text, images, documents, video and open browser tabs and replies with synthesized answers instead of a ranked list of links.
Meanwhile, June brought reports that Google was losing ground to other tech companies as some consumers seek to avoid AI-powered search, while other consumers are forgoing traditional search to get their answers from AI.
This is happening as AI is becoming a “mass habit” for consumers through small, repeatable everyday tasks, according to the PYMNTS Intelligence report “The AI On-Ramp: Data Shows How Everyday Tasks Build Consumer Habits.”
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IBM očekává, že kvantové počítání začne mít měřitelný dopad na výnosy i zisk v letech 2028 nebo 2029. Společně s Algorithmiq zároveň oznámila výzkum o „kvantové výhodě“.
IBM’s CEO says quantum computing will soon be a source of growth for the company.
“I think that in 2028 or 2029, you’ll see it have a measurable impact on our top line and bottom line,” Arvind Krishna said in an interview with CNBC last week. “By the end of the 2030s, we are now pretty convinced this is a trillion dollars of value.”
His comments came the same day IBM and startup Algorithmiq announced new research showing what the companies dubbed “quantum advantage.”
This research “demonstrates that quantum computers can provide trusted solutions more efficiently, more cheaply, or more accurately than leading classical compute methods — which has long been considered a key milestone in the field,” the companies said.
Krishna told CNBC his company’s quantum computer uncovered behaviors in materials that researchers had not been able to record using conventional computing, and that these findings could someday produce things like better batteries and advances in medicine.
“A quantum computer can do things better, faster, cheaper, in a way that normal classical computers cannot do at this time,” Krishna said.
The report added that although skeptics contend quantum computing is years away from having commercial benefits due to challenges like hardware complexity and scalability, Krishna said IBM had begun seeing meaningful movement toward real-world applications.
The company in April unveiled two new hubs for developing artificial intelligence and quantum computing projects, one in Illinois and the other in collaboration with the Massachusetts Institute of Technology in Cambridge.
Weeks later, the U.S. Department of Commerce announced its intent to provide $2.013 billion in federal incentives to nine companies to support quantum computing efforts, with IBM getting nearly half of that money.
This is happening amid debate about the security implications of quantum computing. Research from Google published earlier this year found that quantum computers capable of breaking encryption could arrive by 2029, much sooner than earlier forecasts putting that development at up to a decade away.
“We want to raise awareness on this issue and are providing the cryptocurrency community with recommendations to improve security and stability before this is possible, including transitioning blockchains to post-quantum cryptography (PQC), which is resistant to quantum attacks,” Google researchers said in a report in March.
As PYMNTS wrote at the time, this assertion goes against a popular narrative that decentralized systems are inherently more resilient.
Google’s analysis underscores a structural imbalance, the report said: Traditional financial institutions can quietly update their cryptographic infrastructure, while public blockchains are bound by “transparency, immutability and social consensus.”
Toyota čeká pátý po sobě jdoucí pokles provozního zisku; pro duben až červen se odhaduje 1,11 bilionu JPY, tedy o 5 % méně meziročně. Zemětřesení v jižním Japonsku navíc zastavilo výrobu ve čtyřech domácích závodech.
Toyota logo on display at the 47th Bangkok International Motor Show 2026, in Bangkok, Thailand, March 24, 2026. REUTERS/Athit Perawongmetha/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesLSEG median estimate sees April-June operating profit at 1.11 trillion yen, down 5% year on yearToyota and Lexus global first-quarter sales fall 3% to just over 2.5 million unitsQuake prompts halt at three regional plants through Wednesday and another in central Japan through FridayTOKYO, Aug 3 (Reuters) - Toyota (7203.T), opens new tab is forecast to post a fifth straight quarterly operating profit decline this week, hit by weaker vehicle sales and rising costs, as investors gauge the impact of last week's earthquake in southern Japan.
The world's biggest automaker is expected to report 1.11 trillion yen ($7.04 billion) in profit for the April-June quarter on Tuesday, down 5% from a year earlier, according to the median estimate of eight analysts surveyed by LSEG.
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Analysts said weaker sales volumes in some overseas markets and rising costs across the supply chain linked to the conflict in the Middle East likely weighed on earnings during the period.
Global sales of Toyota and Lexus vehicles fell 3% to just over 2.5 million units in the first quarter, with sharp declines in China and the Middle East outweighing modest growth in the United States.
Investors will also be looking for clues on the fallout from a deadly earthquake that struck Japan's Kyushu island last week, disrupting production at suppliers and forcing Toyota to halt output at four domestic plants.
Toyota has suspended production at three plants in the region through Wednesday and halted output at another plant in central Japan through Friday. Two of the four plants are vehicle assembly sites.`
The uncertainty was highlighted on Friday when supplier Aisin (7259.T), opens new tab said it could not say when output at a damaged plant near the quake's epicentre would resume. About 200 people were working on recovery efforts at the site.
Global sales in the quarter were dragged down by a 28% decline in China and a one-third drop in the Middle East.
"The first quarter could be a bit tougher than expected," said Christopher Richter, autos analyst at CLSA, adding that sales volumes appeared weaker than expected during the quarter.
Richter said Toyota had also posted weak sales in Oceania and Latin America, where BYD (002594.SZ), opens new tab and other Chinese brands are expanding aggressively.
Toyota's sales in Oceania fell 16%, while those in Central and South America were down 5%.
The conflict in the Middle East, which began in late February, has pushed up prices for materials including aluminium and naphtha and disrupted vehicle shipments to the region, analysts have said.
Toyota has also faced pressure on U.S. sales from the transition of its outgoing RAV4 sport utility vehicle to a redesigned version of one of its best-selling models globally.
Richter said investors would be keen to hear details about when the company expects the model's sales to accelerate.
Analysts will also be looking for any change to Toyota's 3 trillion yen operating profit forecast for the current financial year, particularly as higher material costs and earthquake-related disruptions cloud the outlook.
($1 = 157.5700 yen)
Reporting by Daniel Leussink; Editing by Saad Sayeed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Daniel Leussink is a correspondent in Japan. Most recently, he has been covering Japan’s automotive industry, chronicling how some of the world's biggest automakers navigate a transition to electric vehicles and unprecedented supply chain disruptions. Since joining Reuters in 2018, Leussink has also covered Japan’s economy, the Tokyo 2020 Olympics, COVID-19 and the Bank of Japan’s ultra-easy monetary policy experiment.
SoundHound AI Inc (SOUN -0.16%) is scheduled to report second-quarter earnings on Aug. 5. The company is in dire need of a positive update.
Since the start of 2026, SoundHound AI shares have lost more than 40% of their value. And yet Wall Street analysts remains remarkable bullish on the artificial intelligence stock.
Four analysts actively cover SoundHound AI, all of whom rate the stock a “buy.” Their average price target is $12.75, suggesting more than 100% upside over the next 12 months.
The most bullish analyst is Thomas Blakely of Cantor Fitzgerald. He has a $15 price target — one he reaffirmed on May 8, when the stock hovered near $9 per share. SoundHound AI stock has lost around 30% since then, but Blakely apparently remains as bullish as ever.
In the past, Blakely has been particularly excited about SoundHound AI’s ability to cross-sell its expand product portfolio to existing customers.
"SoundHound AI has executed very well, in our view, cross-selling and upselling voice and conversational AI services to its installed base, as well as expanding fully automated voice volumes related to its acquisition of (enterprise AI company) Amelia in late summer 2024," he detailed in a recent note to investors.
Indeed, SoundHound AI’s latest investor presentation heavily references the company’s ability to sell compatible solutions to customers across a wide range of verticals.
But is SoundHound AI actually making progress on this front? There are two major numbers I’ll be monitoring during the upcoming earnings release to gauge the company’s success (or lack thereof).
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Here’s what to watch for during SoundHound AI’s earnings callWall Street remains bullish on SoundHound AI largely because analysts believe the company can accelerate the cross-selling of products to existing customers. This would not only accelerate sales growth beyond simply acquiring new customers but also boost margins, as selling to existing customers usually doesn’t involve the high costs of acquiring new customers.
Given this, the two numbers I’ll be tracking closely are revenue growth and net margins.
Image source: Getty Images
For 2026, SoundHound AI is guiding for revenue of $225 million to $260 million. If realized, that would imply a year-over-year growth rate between 33% to 54%.
On average, analysts are predicting growth of just 37.4%. Next year, sales growth is expected to be just 16.9%. If the pace of cross-selling is successful, we could easily see SoundHound AI beat these estimates, likely resulting in upside to today’s stock price.
Margins should prove just as critical as sales growth. Analysts expect a $0.13 loss per share this year. In 2027, a $0.18 per share loss is expected. SoundHound AI has ramped up its acquisition activity recently, including a $43 million deal to acquire LivePerson.
That deal is expected to close by the end of the year. While these acquisitions enhance SoundHound AI’s cross-selling potential, they will also increase operational costs, adding more pressure on margins.
SoundHound AI continues to grow sales at an impressive pace. But profitability remains elusive. While I don’t expect the company to reach profitability in 2026 or 2027, improved margins would go a long way in regaining the market’s confidence. A lower share price increases the dilutive pressure of future capital raises.
As simple as it sounds, SoundHound AI’s quarterly earnings report will be headlined by top-line sales growth and the trajectory of its path towards profitability. Expect shares to react positively or negatively based on what’s revealed later this week.
NuScale Power oznámí výsledky za druhé čtvrtletí po uzavření trhu 5. srpna. Trh čeká na pokrok u 6GW projektu pro Tennessee Valley Authority, který by mohl snížit nejistotu kolem firmy.
NuScale Power Corp (SMR -2.09%) is scheduled to report second-quarter earnings after market close on Aug. 5. The stakes are high.
So far this year, NuScale’s stock price has plunged in value by nearly 50%. The nuclear energy stock now has a market cap of just $3 billion.
And yet analysts from Bank of America believe nuclear energy will be a $10 trillion opportunity over the long term. And NuScale’s small modular reactors, or SMRs, are an ideal solution for the rising energy needs of the artificial intelligence industry.
Why the disconnect between NuScale’s current valuation and its lucrative long-term growth potential? The answer is simply execution risk.
Right now, only a handful of SMR systems operate globally. And while NuScale remains the only company in the U.S. cleared by regulators to build an SMR nuclear facility, it has yet to break ground on any commercial project.
Despite NuScale’s promising technology and project backlog, the market remains skeptical as to whether these projects will ever see the light of day and translate into real revenues and cash flows. The skepticism is reasonable, given that NuScale has repeatedly experienced delays and even outright cancellations of major projects in the past.
If uncertainty surrounding NuScale’s ability to execute on its project pipeline remains the biggest drag on its stock price, this week’s earnings call has the potential to send shares soaring.
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This catalyst could send NuScale Power’s stock price soaringNuScale has several promising projects in its pipeline. Arguably, the most valuable and near-term, however, is its 6 GW system intended for the Tennessee Valley Authority, a major U.S. utility.
This project was announced last September. But meaningful updates have been scarce since the initial announcement. Last September, NuScale’s stock price spiked to $47. Today, shares are priced below $10. A positive update on this project could, therefore, give NuScale shares a much-needed lift.
Image source: Getty Images
Fortunately, there’s a good chance that NuScale will deliver positive news on the project this year. The next catalyst is expected to be the signing of a power purchase agreement, or PPA. A PPA would essentially commit the customer to purchasing power from the project at a certain price for years to come. In short, it would ensure NuScale the revenue stream needed to justify the start of construction.
If a PPA is signed this year, uncertainty surrounding NuScale’s business should drop significantly. Not only would a PPA make it much more likely that the project would move into the construction phase, but it would also clarify uncertainties regarding NuScale’s future financing. It would also add another boost of social validation for NuScale’s technology and go-to-market approach.
"We're hopeful that TVA can come across the line at some point later this year," NuScale's CFO revealed in May, referring to the potential of signing a PPA with the Tennessee Valley Authority.
It’s more likely that an update will come later this year during subsequent earnings calls. But if NuScale’s CFO is accurate in his predictions, the news could break at any time. And given the magnitude of such an announcement, investors looking to gain exposure to the nuclear renaissance, or potentially simply add to their NuScale position at a lower cost basis, may be wise to act sooner rather than later.
CFO společnosti Planet Labs Ashley Johnson prodala přibližně 110 000 akcií za 2,4 milionu USD v rámci předem nastaveného plánu 10b5-1. Po transakci jí zůstává zhruba 1,1 milionu přímých a 561 000 nepřímých akcií.
Ashley F. Johnson, President and Chief Financial Officer of Planet Labs PBC (PL +1.29%), sold ~110,000 shares of Class A Common Stock on July 23, 2026, for a total value of $2.4 million, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$2.4 millionShares sold~110,000Shares sold (directly held)75,035Shares sold (indirectly held)34,993Post-transaction shares (directly held)~1.1 millionPost-transaction shares (indirectly held)~561,000Post-transaction value$37.87 millionInsider ownership0.51%Transaction value based on SEC Form 4 weighted average sale price ($22.08); post-transaction value based on July 23, 2026 market close ($22.36).
Key questionsWhat is the context for this transaction?
The sale was conducted as part of routine portfolio management under a Rule 10b5-1 trading plan established on April 23, 2026. This regulatory framework allows insiders to schedule stock sales in advance to avoid concerns regarding the possession of material non-public information.How has the company performed financially leading up to this trade?
Planet Labs reported a 226% one-year return as of the July 23, 2026 transaction date. During the most recent trailing-twelve-month period, the company generated $335.6 million in revenue while recording a net loss of $373.1 million.What is the status of the executive's remaining equity position?
Following this transaction, Johnson retains a significant interest in the company, including ~1.1 million shares held directly and ~561,000 shares held indirectly through a revocable trust. The directly held position includes 1,132,122 restricted stock units (RSUs) that are scheduled to vest in quarterly installments through December.Company OverviewMetricValueShare Price (as of market close 2026-07-23)$22.36Market Capitalization$6.9 billionRevenue (TTM)$335.6 millionNet Income (TTM)-$373.1 millionCompany SnapshotPlanet Labs designs, deploys, and operates extensive satellite constellations that deliver frequent, high-resolution geospatial imagery and data to customers worldwide through a proprietary cloud-native platform.The company generates revenue through subscription-based access to its satellite imagery and geospatial analytics platform, leveraging its proprietary technology stack to process and integrate temporal data for advanced analytical applications.Planet Labs serves government agencies, commercial enterprises, and institutional customers requiring real-time geospatial intelligence for applications spanning agriculture, urban planning, disaster response, and defense and security operations.Planet Labs PBC operates as a leading provider of frequent, global geospatial data through its constellation of Earth-imaging satellites. The company's differentiated competitive position derives from its extensive satellite network, proprietary cloud-native processing infrastructure, and ability to deliver sub-meter resolution imagery at unprecedented temporal frequency.
With a market capitalization of $6.9 billion, Planet Labs is scaling its commercial and government customer base while advancing its technological capabilities in satellite operations and geospatial analytics.
What this transaction means for investorsThe July 23 sale of Planet Labs stock by CFO Ashley Johnson for a weighted average price of $22.08 occurred during a time when shares were on the decline, having fallen substantially from a 52-week high of $51.76 reached in May. The drop was due in part to the company’s plan to sell up to $1.5 billion Class A shares, a large equity offering that prompted dilution concerns among shareholders.
The CFO’s disposition combined with other insider sales also added to a Planet Labs stock sell-off. That said, her July 23 transaction does not appear to raise red flags for investors, given it was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan.
Moreover, Johnson retained more than one million directly-held shares post-transaction, and over half a million indirectly-held stock in a trust. This demonstrates she maintains a sizable equity position, ensuring her continued alignment with shareholder interests.
Robert Izquierdo has positions in Planet Labs PBC. The Motley Fool has positions in and recommends Planet Labs PBC. The Motley Fool has a disclosure policy.
AstraZeneca podle FT jedná s Bristol Myers Squibb o možném spojení, které by vytvořilo jednu z největších farmaceutických skupin světa s hodnotou téměř 400 miliard USD.
Test tubes are seen in front of a displayed Bristol Myers Squibb logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
CompaniesAug 2 (Reuters) - UK drugmaker AstraZeneca (AZN.L), opens new tab has been exploring a deal to combine with U.S. rival Bristol Myers Squibb (BMY.N), opens new tab, the Financial Times reported on Sunday, citing people familiar with the matter.
The deal could create one of the world's biggest pharmaceutical groups with a combined value of nearly $400 billion.
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The companies have held talks on a potential tie-up in recent months, the report said, adding that a deal could materialise soon, but could also be delayed or fall apart.
Reuters could not immediately verify the report. AstraZeneca declined to comment, while Bristol Myers did not immediately respond to a Reuters request for comment outside regular business hours.
Last year, AstraZeneca unveiled plans for a direct U.S. listing, aiming to capitalise on stronger valuations in the U.S. market while remaining listed in London.
The company's share price has more than quadrupled during Pascal Soriot's 14-year tenure as CEO, soaring above the wider FTSE 100 index and main British rival GSK (GSK.L), opens new tab.
Second-quarter results last week showed strong demand for cancer and rare disease drugs continues to drive growth. Cancer treatments accounted for about $25 billion in 2025 sales, nearly half of the total, followed by cardiovascular, renal and metabolism treatments worth about $12 billion.
The report of the potential deal comes about a dozen years after AstraZeneca fended off a takeover attempt by larger U.S. rival Pfizer (PFE.N), opens new tab.
Reporting by Devika Nair in Bengaluru and Mi; Editing by Paul Simao and Bill Berkrot
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Prysmian je podle agentury Bloomberg v pokročilých jednáních o koupi americké společnosti Atkore v hotovostní transakci. Dohoda může být oznámena v příštích dnech.
Aug 2 (Reuters) - Italian cable maker Prysmian (PRY.MI), opens new tab is in advanced talks to acquire U.S. electrical products maker Atkore (ATKR.N), opens new tab, Bloomberg News reported on Sunday, citing people familiar with the matter.
Prysmian is putting the final touches on an all-cash deal for Atkore that could be announced in the coming days, the report said.
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Reuters could not immediately verify the report. Prysmian declined to comment, while Atkore did not immediately respond to a request for comment outside regular business hours.
Milan-based Prysmian generates about 40% of its revenue from North America, where a favourable supply-demand balance has supported growth.
Last month, Prysmian signed a long-term fiber-optic cable supply agreement with Molex worth up to €5.5 billion ($6.35 billion), as the company ramps up investments to capitalize on AI-driven demand from data centers.
Atkore, which makes electrical, safety and infrastructure products, supplies solutions used in construction, power, data center and telecommunications projects worldwide.
($1 = 0.8660 euros)
Reporting by Abu Sultan in Bengaluru; Editing by Edmund Klamann and Paul Simao
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Chairman and CEO Ari Bousbib reported a sale of about 106,000 shares of IQVIA Holdings Inc. (IQV -1.17%) for total proceeds of $26.1 million in an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$26.1 millionShares sold~106,000Post-transaction shares (total)~1.4 millionPost-transaction shares (directly held)~836,000Post-transaction shares (indirectly held)~543,000Post-transaction value~$341.45 millionTransaction value based on SEC Form 4 weighted average sale price ($245.51); post-transaction value based on July 29, 2026 market close ($247.56).
Key questionsWhat was the structure of this disposition?
The transaction was an exercise-and-sell of stock appreciation rights expiring in February 2027, where 106,279 shares were sold at a weighted average price of $245.51.How does this impact the insider's total equity exposure?
While direct holdings were reduced by 11%, the insider retains a total beneficial position of 1.4 million shares, including significant indirect interests that remained unchanged.What is the significance of the Orohena Trust holdings?
Bousbib maintains indirect ownership of 543,000 shares through the Orohena Trust, providing continued long-term exposure to the company's valuation separate from direct executive compensation.How does the execution price compare to recent market valuation?
The shares were sold at a weighted average price of $245.51, representing a narrow discount to the $247.56 market close on the July 29, 2026 transaction date.Company OverviewMetricValueShare Price (as of market close 2026-07-30)$237.82Market Capitalization$38.8 billionRevenue (TTM)$17.0 billionNet Income (TTM)$1.4 billionCompany SnapshotIQVIA provides sophisticated analytical insights, advanced technology solutions, and comprehensive clinical research services to the life sciences industry through three primary operating segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.The company generates revenue through a diversified business model that combines data analytics, technology platforms, clinical trial services, and sales force outsourcing solutions for pharmaceutical, biotechnology, and medical device manufacturers globally.IQVIA serves pharmaceutical companies, biotechnology firms, medical device manufacturers, and healthcare organizations across the Americas, Europe, Africa, and Asia-Pacific regions, positioning itself as a critical partner in drug development and commercialization.IQVIA Holdings Inc. is a premier global provider of life sciences intelligence and services operating across multiple continents. The company maintains a competitive advantage through its integrated platform combining proprietary data, advanced analytics, and extensive clinical research capabilities, enabling clients to optimize drug development timelines and commercialization strategies. With TTM revenue of $17.0 billion and a market capitalization of $38.8 billion, IQVIA has demonstrated strong market positioning and sustained growth momentum.
What this transaction means for investorsThe rights behind this sale carried a February 2027 expiration, which is the detail that explains the timing. Bousbib was converting stock appreciation rights before they lapsed, a deadline that has nothing to do with his read on the stock. He sold a bit under the day's close and kept a 1.4 million share position, including 543,000 shares in the Orohena Trust that didn't move. Ultimately, a CEO cashing in expiring rights while leaving his long-term holdings intact is basically just a sign of calendar management, not a signal about the firm’s prospects.
The timing, meanwhile, does follow a standout quarter. This past week, IQVIA reported that it grew second-quarter revenue 8.7% to $4.37 billion, lifted adjusted earnings per share 12.1% to $3.15, and posted record clinical bookings of $3.15 billion, a 1.22 book-to-bill. It also raised full-year guidance to as much as $17.475 billion. Bousbib called it “as clean a quarter” as he’s seen in more than two decades of reporting earnings across companies. Cash flow, however, performed shy of expectations, and the stock took a small hit after earnings but is still up for the year.
For long-term investors, it’ll be important to see how both the backlog and cash flow evolve from here. IQVIA has $34.2 billion in contracted work, with about $9.2 billion converting to revenue within a year, so the growth is visible well into 2027. Whether demand from biotech clients — and how that translates to cash flow — will be key in determining the firm’s trajectory.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iqvia Holdings. The Motley Fool has a disclosure policy.
Energy drink maker Monster Beverage (MNST -1.30%) is about to halve its stock price on purpose. The company's 2-for-1 split, announced July 8, hands each shareholder of record as of July 24 one additional share for every share held. The new shares are distributed after the market closes on Aug. 10, and the stock begins trading at its split-adjusted price on Aug. 11.
Mechanically, nothing of substance happens. Every investor's stake is worth the same the morning after as the night before, and the business itself is untouched.
So why pay attention at all? Because a split is usually something a board does after a big run in a stock. And in Monster's case, the run -- and the growth behind it -- is the part actually worth an investor's time.
Image source: Getty Images.
What actually changes on Aug. 11 The mechanics are simple. The split is effected as a 100% stock dividend, so the share count doubles and the price halves. Monster's market capitalization of about $95 billion doesn't move.
What the decision suggests, though it guarantees nothing, is that management is comfortable with where the stock sits. Boards tend to split shares after sustained appreciation, and Monster has delivered exactly that.
The stock closed Friday at $96.38, within about 4% of its 52-week high of $100.34 -- and it has climbed roughly 58% over the past year.
A share price near $100 isn't hard for investors to work with, especially in an era of fractional shares. So the split's practical effects are modest. Its main function is to mark the run, and little else.
The growth the split is celebrating The trajectory, however, is worth paying attention to -- and it has been steepening. Monster's net sales grew 10.7% in 2025, to $8.29 billion. In the fourth quarter of 2025, they rose 17.6% year over year to $2.13 billion. Then, in the first quarter of 2026, net sales jumped 26.9% to $2.35 billion. That's three readings, each faster than the last.
International sales are doing much of the pushing. Net sales to customers outside the United States rose 44.9% year over year in the first quarter to $1.06 billion, and they now make up about 45% of total sales, up from roughly 40% a year earlier. Currency helped some, as favorable exchange-rate moves added $89.3 million to the quarter's net sales. And growth tilted toward international markets carries a thinner margin with it: Monster's gross margin slipped to 55% of net sales from 56.5% a year earlier, which the company attributed to geographic sales mix, higher aluminum can costs, and increased freight costs, partially offset by pricing actions.
The bottom line has kept up anyway. First-quarter operating income climbed 28.1% to $730 million, net income rose 28.6% to $569.5 million, and earnings per share grew 27.6% to $0.58. Monster also returned about $100 million to shareholders through share repurchases during the quarter.
Notably, none of that growth leans on artificial intelligence (AI), which arguably makes the stock a rarity among this year's market leaders -- and part of its appeal for investors whose portfolios have grown top-heavy with technology names.
And that brings up the real event on the calendar, which isn't the split at all. Monster's second-quarter report is scheduled for Aug. 6, after the market closes (last year's arrived on Aug. 7), and it should show whether the acceleration held into the summer. That timing puts the report just before the split takes effect, giving the market fresh numbers to judge the stock by as the share count doubles.
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That report matters because of what investors are now paying. At about 47 times earnings, Monster trades at a steep premium to the S&P 500's multiple of about 28. A valuation like that prices in a long stretch of the kind of growth the company just delivered.
If the second quarter shows the acceleration cooling, or margins slipping further, the stock could give back some of its 58% run quickly.
So, is the split a reason to buy the stock? No -- and it isn't a reason to sell, either. It's a reason to look.
What I see is an excellent business growing faster than it has in years, priced like the growth stock it has suddenly become again. I'd rather judge that trade-off with the second-quarter numbers in hand. So I'll be watching the report, not the split date.
Green Thumb Industries v 1. čtvrtletí zvýšila tržby o 7,4 % na 300,2 milionu USD a vykázala čistý zisk podle GAAP ve výši 15,4 milionu USD. Firma zároveň vytvořila provozní cash flow ve výši 76 milionů USD.
The cannabis industry has taught investors a painful lesson over the past five years: Revenue growth means very little if a company can't generate cash. Dozens of operators expanded too quickly, took on excessive debt, or repeatedly diluted shareholders to stay afloat.
Green Thumb Industries (GTBIF +1.43%) largely avoided those mistakes. And that's why the company has earned a reputation as one of the cannabis sector's best-run companies. Its Q1 results reinforced that idea.
Revenue increased 7.4% year over year to $300.2 million, while the company generated $76 million in operating cash flow, produced $93.5 million in normalized EBITDA (earnings before interest, taxes, depreciation, and amortization), and remained profitable with generally accepted accounting principles (GAAP) net income of $15.4 million.
In the cannabis industry, this kind of solid performance isn't the norm. So does that make Green Thumb stock a buy now?
Financially strong Green Thumb is also in a position of financial strength. The company ended Q1 with approximately $344.5 million in cash and cash equivalents and $289.9 million in total debt. And rather than raising capital through new share issuances, management has actually been repurchasing stock.
During the first quarter, Green Thumb repurchased roughly 6 million shares for $33.3 million. After quarter-end, it bought another 7.4 million shares, bringing total repurchases this year to nearly $78 million. That's not trivial.
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With that kind of enthusiasm, it's safe to assume that management believes the stock is undervalued and, perhaps more importantly, that the business generates enough cash to reward shareholders without sacrificing future growth.
Profitability and cash flow The operating business also continues to improve. Green Thumb now operates more than 110 Rise dispensaries across the United States while maintaining exposure to both medical and adult-use cannabis markets. The company continues expanding selectively, including new opportunities in Minnesota and Texas, rather than chasing growth at any cost. This is what got a lot of other cannabis companies in hot water over the years.
Image source: Getty Images.
Of course, the cannabis industry still faces challenges. Federal legalization remains uncertain, Section 280E continues to create an extremely high tax burden, and pricing pressure remains in several mature state markets. That said, Green Thumb has shown it can succeed without relying on favorable legislation by building a profitable business on today's rules, not tomorrow's hopes.
Now, could other cannabis stocks produce bigger returns if federal reform accelerates? Absolutely. Smaller operators often offer more upside because they carry more risk. But Green Thumb is different.
The company's appeal isn't that it will necessarily be the fastest grower. It's that it has already demonstrated something many cannabis businesses still haven't: an ability to consistently generate profits and produce meaningful cash flow. In an industry where investors have spent years waiting for the fundamentals to catch up with the hype, Green Thumb may simply be the safest bet on the board.
Arm uvedl, že je nyní jistější v dosažení více než 1 miliardy USD tržeb ze serverových CPU ve fiskálním roce 2028. Zároveň ve fiskálním 1. čtvrtletí zvýšil tržby o 22 % na 1,29 miliardy USD.
It's been a rollercoaster ride for Arm Holdings (ARM -0.77%) shares this year. The stock has more than doubled in 2026, although it is off nearly 50% from its spring highs. More recently, the company got a lift on solid fiscal first-quarter earnings and upbeat commentary about its data center central processing unit (CPU) opportunity.
Despite the company's CPU opportunity, I wouldn't be chasing the stock. Let's dig into the U.K.-based company's recent results and prospects to see why I feel this way.
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CPU opportunity in focus Arm shocked investors earlier this year when it announced that it would make its own physical chips for the first time ever, given the huge opportunity it sees in server CPUs. The company has long been a leading provider of intellectual property (IP) to the semiconductor industry, but it's never developed its own chips.
That changed when it introduced its Arm Artificial General Intelligence (AGI) CPU in March. At the time, the company projected that the data center CPU market would grow to $100 billion by 2031 and that it would be able to capture a 15% market share. Nvidia and Advanced Micro Devices, meanwhile, have more recently projected that the server CPU market would climb to $220 billion.
Arm also targeted $1 billion in server CPU revenue between fiscal 2027 and fiscal 2028. On its earnings conference call, management said it was now more confident that it would achieve over $1 billion in server CPU revenue in fiscal 2028, as its backlog has grown to over $2 billion and it has seen improved supply chain conditions. The company also said that it had secured the manufacturing capacity to help meet demand.
Arm's core business, meanwhile, remained solid in fiscal Q1. Revenue increased 22% to $1.29 billion, while annualized contract value (ACV), which smooths out license revenue, rose 13%. License revenue climbed by 23% year over year to $574 million, fueled by demand for its next-generation architecture. Softbank contributed $193 million in revenue.
Royalty revenue increased by 22% year over year to $715 million. Arm said data center royalty revenue once again doubled and that it was seeing sustained momentum. Growth was being led by hyperscalers ramping up production of Arm-based server chips, while it was also seeing strength in data processing units (DPUs) and SmartNICs. Smartphone and other device revenue grew despite overall market weakness, due to higher royalty rates coming from its newer Armv9 architecture.
Looking ahead, Arm forecasts fiscal second-quarter revenue to come in around $1.38 billion, representing year-over-year growth of 22%. License revenue is projected to grow about 30%, while royalty revenue is expected to rise in the low teens. It guided for adjusted earnings per share to be between $0.43 and $0.51.
Image source: The Motley Fool.
Arm is looking to have its cake and eat it too in the server CPU market. The company already supplies the IP behind custom data center CPUs, like Nvidia's Vera, Amazon's Graviton, and Alphabet's Axion chips.
Meanwhile, it's now offering its own server CPUs, looking to capture more share in this fast-growing market. With the rise of AI agents expected to shrink the GPU-to-CPU ratio from 8:1 for training to 1:1 for agentic AI, the data center CPU market is expected to grow rapidly in the coming years. However, Arm is now essentially competing with its own customers, which does create an interesting dynamic.
One of the biggest issues for Arm in this new endeavor is being able to get components and foundry capacity, but it looks like it has done a good job on this front. However, it does still have a headwind in its largest end market, smartphones. Smartphones and other device sales are expected to be pressured due to elevated memory costs leading to higher prices, cutting consumer demand.
With the stock trading at a forward price-to-earnings (P/E) ratio of over 100 based on the fiscal 2027 consensus estimates, this AI stock is too rich for my blood given the risks involved. The move to creating physical chips could also eventually lead to multiple compression in the stock, given that it is no longer a pure IP company.
Sprouts Farmers Market tento týden vzrostl o více než 16 % po lepších než očekávaných výsledcích hospodaření za fiskální 2. čtvrtletí. Tržby stouply meziročně o 5 % na 2,3 miliardy USD a EPS byl 1,37 USD.
Shares of Sprouts Farmers Market (SFM +0.36%) climbed more than 16% this past week after the natural and organic grocery chain delivered healthier-than-expected financial results in its most recent quarter.
Image source: Getty Images.
New stores are fueling growth Sprouts' net sales grew 5% year over year to $2.3 billion in its fiscal second quarter, which ended on June 28.
The retailer opened 7 new stores during the quarter, bringing its total to 490 locations across 25 states.
However, Sprouts' comparable sales, which include revenue from stores open for at least 60 weeks, declined by 1%. Sprouts faced difficult comparisons to the prior-year quarter, when its competitors' supply chain disruptions drove additional traffic to its stores.
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Sprouts' gross margin also declined slightly to 38.7%, due in part to higher fuel costs.
All told, the company's earnings inched up 1% to $1.37 per share. That topped Wall Street's estimates, which had called for per-share profits of $1.34.
Sprouts also continues to crank out cash. Operating and free cash flow checked in at $369 million and $179 million, respectively, through the first half of 2026.
A long runway for further expansion Management expects same-store sales to turn positive in the third quarter. For the full year, the company expects net sales growth of 5.5% to 6.5%, with operating income of $675 million to $685 million and earnings per share of $5.32 to $5.40, driven by 42 net new store openings.
Looking even further ahead, Sprouts sees an opportunity to expand its store base to over 1,000 locations nationwide.
"Our pipeline remains robust with more than 110 executed leases and 155 approved new stores, giving us confidence in our ability to continue expanding access to Sprouts over the long term," chief financial officer Curtis Valentine said during a conference call with analysts.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Sprouts Farmers Market. The Motley Fool recommends the following options: long January 2028 $75 calls on Sprouts Farmers Market and short January 2028 $85 calls on Sprouts Farmers Market. The Motley Fool has a disclosure policy.
