Track market-moving stories before they get noisy

Posted by Defense World Staff on Aug 1st, 2026

Axiom Investment Management LLC purchased a new position in Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,890 shares of the aerospace company’s stock, valued at approximately $1,478,000. Huntington Ingalls Industries accounts for 1.1% of Axiom Investment Management LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of HII. Northwestern Mutual Wealth Management Co. boosted its position in shares of Huntington Ingalls Industries by 38,526.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock worth $675,572,000 after acquiring an additional 1,981,424 shares in the last quarter. AQR Capital Management LLC raised its position in Huntington Ingalls Industries by 85.0% during the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock valued at $369,186,000 after purchasing an additional 498,690 shares in the last quarter. Van ECK Associates Corp lifted its stake in Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after purchasing an additional 400,428 shares during the last quarter. Marshall Wace LLP lifted its stake in Huntington Ingalls Industries by 588.1% during the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company’s stock worth $119,663,000 after purchasing an additional 300,740 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Huntington Ingalls Industries by 390.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,339 shares of the aerospace company’s stock valued at $97,036,000 after purchasing an additional 227,126 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analyst Ratings Changes A number of research firms have issued reports on HII. Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price on the stock in a research report on Friday. Citigroup raised their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings cut shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, TD Cowen cut their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Huntington Ingalls Industries has an average rating of “Hold” and a consensus target price of $376.22.

Get Our Latest Research Report on HII

Insider Activity at Huntington Ingalls Industries In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the sale, the vice president owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Huntington Ingalls Industries Stock Up 2.3% Shares of NYSE HII opened at $327.24 on Friday. The company has a market capitalization of $12.89 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.25. Huntington Ingalls Industries, Inc. has a 52-week low of $259.00 and a 52-week high of $460.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.23. The company’s 50 day moving average price is $290.91 and its 200-day moving average price is $359.13.

Huntington Ingalls Industries (NYSE:HII – Get Free Report) last announced its earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, beating the consensus estimate of $3.79 by $1.48. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.86 EPS. Equities analysts forecast that Huntington Ingalls Industries, Inc. will post 17.31 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 28th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 32.90%.

Key Headlines Impacting Huntington Ingalls Industries Here are the key news stories impacting Huntington Ingalls Industries this week:

Positive Sentiment: Q2 results significantly exceeded expectations. HII reported adjusted earnings of $5.27 per share versus the $3.79 consensus estimate, while revenue rose 10.9% year over year to $3.42 billion, above expectations of $3.15 billion. Huntington Ingalls Industries Q2 earnings report Positive Sentiment: Shipbuilding demand and backlog strengthened the outlook. Higher ship volumes supported quarterly growth, while new awards lifted backlog to approximately $57.3 billion. Management also forecast fiscal 2026 revenue of $13.2 billion to $13.6 billion, above the roughly $13.0 billion analyst consensus. HII Q2 earnings surpass estimates Positive Sentiment: A major submarine-contract opportunity adds long-term visibility. Newport News Shipbuilding, HII’s division, is expected to play a large role in $76.6 billion of U.S. Navy submarine contracts, reinforcing the company’s strategic importance and future workload. Huntington Ingalls awarded Navy submarine contracts Positive Sentiment: Analysts became more constructive. Citigroup raised its price target from $349 to $379 and assigned a “buy” rating, while Wolfe Research upgraded HII to “outperform” with a $364 target. These targets imply additional upside based on the referenced share price. Neutral Sentiment: HII declared a quarterly dividend of $1.38 per share, payable September 11 to shareholders of record August 28. The dividend supports shareholder returns but is unlikely to be the primary driver of the current move. Negative Sentiment: Some commentary cautioned that operational improvements may not translate into rapid growth, highlighting execution and capacity constraints as risks despite the stronger backlog and contract pipeline. Huntington Ingalls operations and growth analysis About Huntington Ingalls Industries (Free Report)

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.

Featured Stories Five stocks we like better than Huntington Ingalls Industries Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Apple’s Record Quarter Could Not Outrun Its Guidance Problem McKesson’s Compounding Keeps Adding Up Want to see what other hedge funds are holding HII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report).

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Posted by Defense World Staff on Aug 1st, 2026

Argent Capital Management LLC raised its position in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,990 shares of the industrial products company’s stock after acquiring an additional 40,985 shares during the quarter. Eaton makes up 1.8% of Argent Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Argent Capital Management LLC’s holdings in Eaton were worth $58,297,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ETN. Hilton Head Capital Partners LLC purchased a new position in Eaton during the 4th quarter valued at about $26,000. Sfam LLC purchased a new stake in Eaton in the 4th quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Eaton in the 4th quarter worth approximately $28,000. Eagle Bay Advisors LLC purchased a new position in shares of Eaton during the fourth quarter valued at approximately $29,000. Finally, Boreal Capital Management LLC purchased a new position in shares of Eaton during the first quarter valued at approximately $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton In related news, insider Antonio Galvao sold 494 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $405.86, for a total value of $200,494.84. Following the sale, the insider owned 9,175 shares in the company, valued at $3,723,765.50. This represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson acquired 215 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $419.02 per share, with a total value of $90,089.30. Following the purchase, the director directly owned 1,629 shares of the company’s stock, valued at $682,583.58. The trade was a 15.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 21,028 shares of company stock worth $8,614,793. Company insiders own 0.10% of the company’s stock.

Key Eaton News Here are the key news stories impacting Eaton this week:

Positive Sentiment: Quarterly results exceeded expectations. Eaton reported adjusted EPS of $3.15, up from $2.95 a year earlier and above the $3.08 consensus. Sales rose 21.4% year over year to approximately $8.5 billion, exceeding estimates near $8.16 billion. GAAP EPS was $2.11 after amortization, acquisition-related and restructuring charges. Eaton Q2 Earnings and Revenues Top Estimates Positive Sentiment: Electrical demand and data-center growth remain powerful catalysts. Management cited strong Electrical Americas performance, accelerating orders and backlog, data-center demand, acquisitions and solid Aerospace results. The company also raised its organic-growth outlook, signaling continued momentum in its core businesses. Eaton’s Q2 Earnings Beat on Strong Electrical Sales, Outlook Raised Positive Sentiment: Full-year guidance was raised above consensus. Eaton forecast FY 2026 adjusted EPS of $13.40-$13.60, compared with consensus of $13.34. Analysts at Zacks Research subsequently increased several 2027 and 2028 EPS estimates, reflecting confidence in longer-term earnings growth. Eaton Reports Record Second Quarter 2026 Results Neutral Sentiment: Near-term expectations are largely priced in. Third-quarter EPS guidance of $3.46-$3.56 centers on $3.51, approximately in line with consensus. Eaton’s valuation is also elevated, with a reported price-to-earnings ratio above 40, while unusually high put-option activity highlights some investor caution. Eaton Q2 2026 Earnings Call Transcript Wall Street Analyst Weigh In ETN has been the subject of a number of research analyst reports. Evercore set a $453.00 price target on Eaton in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Eaton from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. KeyCorp lifted their target price on shares of Eaton from $420.00 to $480.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on shares of Eaton from $457.00 to $484.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Eaton from $406.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Read Our Latest Research Report on ETN

Eaton Stock Up 7.3% NYSE:ETN opened at $415.24 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.19 and a quick ratio of 0.75. The firm’s 50-day moving average price is $404.88 and its 200-day moving average price is $385.14. The company has a market capitalization of $161.24 billion, a PE ratio of 40.59, a P/E/G ratio of 2.48 and a beta of 1.18. Eaton Corporation, PLC has a 1-year low of $311.92 and a 1-year high of $436.74.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.07. The company had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $8.16 billion. Eaton had a net margin of 13.99% and a return on equity of 24.72%. Eaton’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. On average, equities analysts predict that Eaton Corporation, PLC will post 13.35 EPS for the current fiscal year.

Eaton Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 7th. Eaton’s payout ratio is currently 43.01%.

Eaton Company Profile (Free Report)

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

Featured Stories Five stocks we like better than Eaton Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Apple’s Record Quarter Could Not Outrun Its Guidance Problem McKesson’s Compounding Keeps Adding Up Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN – Free Report).

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Posted by Defense World Staff on Aug 1st, 2026

Argent Capital Management LLC decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI – Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,422 shares of the financial services provider’s stock after selling 33,673 shares during the period. Argent Capital Management LLC owned 0.29% of Houlihan Lokey worth $29,072,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Robinhood Asset Management LLC acquired a new stake in Houlihan Lokey during the fourth quarter worth about $6,862,000. Pier Capital LLC raised its position in shares of Houlihan Lokey by 62.3% during the 4th quarter. Pier Capital LLC now owns 44,000 shares of the financial services provider’s stock worth $7,664,000 after purchasing an additional 16,894 shares during the period. M&T Bank Corp bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $4,467,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Houlihan Lokey during the 4th quarter valued at approximately $1,942,000. Finally, Fenimore Asset Management Inc grew its stake in Houlihan Lokey by 16.2% during the 4th quarter. Fenimore Asset Management Inc now owns 123,672 shares of the financial services provider’s stock worth $21,542,000 after buying an additional 17,199 shares during the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Houlihan Lokey Here are the key news stories impacting Houlihan Lokey this week:

Positive Sentiment: Houlihan Lokey declared a quarterly dividend of $0.70 per share, payable September 15 to shareholders of record September 1. The dividend implies an annualized yield of approximately 2.2%, providing shareholder income. Positive Sentiment: Morgan Stanley maintained an “overweight” rating despite lowering its price target to $177 from $187, while Keefe, Bruyette & Woods retained an “outperform” rating and reduced its target to $153 from $160. Both targets remain substantially above the recent trading level, suggesting analysts expect a recovery. Neutral Sentiment: UBS lowered its price target to $147 from $161 and maintained a “neutral” rating. The revised target still indicates upside, but the cut reflects more cautious expectations for the company’s valuation or near-term performance. Houlihan Lokey Given New $147 Price Target at UBS Group Negative Sentiment: Fiscal Q1 earnings were well below expectations: adjusted EPS was $1.35 versus the $1.64 consensus, and revenue was $511 million versus $602.38 million expected. EPS also fell from $2.14 a year earlier, while revenue declined 15.6% year over year. The sizable earnings and revenue misses are the primary catalyst weighing on HLI. Houlihan Lokey Misses Q1 Earnings and Revenue Estimates Insider Activity at Houlihan Lokey In related news, Chairman Scott L. Beiser sold 6,265 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the transaction, the chairman owned 6,265 shares of the company’s stock, valued at approximately $941,378.90. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.83% of the company’s stock.

Analyst Ratings Changes Several analysts recently weighed in on HLI shares. UBS Group cut their price objective on shares of Houlihan Lokey from $161.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Houlihan Lokey in a research report on Friday, July 17th. Zacks Research raised Houlihan Lokey from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. The Goldman Sachs Group cut their target price on Houlihan Lokey from $171.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Morgan Stanley decreased their price target on Houlihan Lokey from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.62.

Get Our Latest Stock Analysis on Houlihan Lokey

Houlihan Lokey Stock Performance Houlihan Lokey stock opened at $125.21 on Friday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95. Houlihan Lokey, Inc. has a 1 year low of $112.83 and a 1 year high of $211.78. The firm’s 50 day moving average price is $139.40 and its two-hundred day moving average price is $152.13.

Houlihan Lokey (NYSE:HLI – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.29). Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $602.38 million. During the same period in the prior year, the business earned $2.14 earnings per share. The business’s revenue was down 15.6% compared to the same quarter last year. As a group, equities analysts predict that Houlihan Lokey, Inc. will post 7.91 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Houlihan Lokey’s dividend payout ratio (DPR) is 47.06%.

Houlihan Lokey Company Profile (Free Report)

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.

Read More Five stocks we like better than Houlihan Lokey Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Apple’s Record Quarter Could Not Outrun Its Guidance Problem McKesson’s Compounding Keeps Adding Up Want to see what other hedge funds are holding HLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Houlihan Lokey, Inc. (NYSE:HLI – Free Report).

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Earlier this year, CEO Greg Abel announced that Berkshire Hathaway (BRKA +0.21%) (BRKB +0.36%) resumed its share repurchase program in March. But much to investors' disappointment, the company's first-quarter earnings report revealed just $235 million in total share repurchases that month. That's practically unnoticeable for a company with a market cap of more than $1 trillion.

It looks like Abel stepped up the repurchase activity in the second quarter. A Barron's analysis of Warren Buffett's SEC filings in July indicates Berkshire Hathaway's Class A share count declined by around 11,000 between April 14 and July 14. Due to rounding and estimating the average share price of repurchases, the actual amount spent buying back shares won't be known until Berkshire releases its Q2 earnings results. However, Barron's suggests the amount could be as high as $11 billion.

That's a bullish sign for shareholders.

Image source: The Motley Fool.

Should you buy Berkshire Hathaway stock now? When Berkshire Hathaway buys back its own shares, it's usually a good sign that management believes its shares are undervalued. Chairman Warren Buffett has decried companies that repurchase shares without regard for their stock's price or value. Conversely, Berkshire's share repurchase authorization permits repurchases only when "Berkshire's Chief Executive Officer, after consultation with the Chairman of the Board, believes that the repurchase price is below Berkshire's intrinsic value, conservatively determined."

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If Berkshire did buy back $11 billion worth of shares in Q2, it would be the largest repurchase in the company's history. The previous record was in the fourth quarter of 2020, when Buffett bought back $9 billion worth of Berkshire stock. As such, it would indicate extreme bullishness on the part of Abel and Buffett, and help decumulate the massive cash pile on the company's balance sheet.

Berkshire Class A share price averaged about $721,000 per share between April 14 and the end of the quarter, which is the best estimate for the average purchase price for share repurchases during the period. Shares have climbed since the end of May, but the valuation remains compelling.

The stock trades for just 1.5 times book value, based on data from the end of Q1. That number may be closer to 1.4 times book value based on up-to-date data. Investors will have to wait until the Q2 financial release to get more exact numbers.

Data by YCharts.

The stock's performance in the first half of 2026 also suggests investors may be undervaluing the conglomerate. While railroad and insurance stocks have climbed higher, Berkshire stock has remained relatively flat. That's despite the fact that its marketable equity portfolio has significantly increased in value, approaching $360 billion as of this writing.

Given all the evidence, now may be a great time to add Berkshire shares to your portfolio.

Shares of Texas Instruments (TXN -0.58%) are down about 16% after hitting a 52-week high of $334 in June, and the company's second-quarter earnings results didn't provide any lift to the stock.

Investors focused on disappointing guidance rather than the clear advantages the company has in meeting growing data center demand, setting up a compelling buying opportunity.

Image source: Getty Images.

Demand trends point to continued growth Revenue grew 23% year over year, reaching $5.5 billion, while earnings per share jumped 52% to hit $2.14 in the second quarter. Those numbers are strong enough to justify the stock's forward price-to-earnings multiple of 32 at the time of writing.

Strong demand in analog and embedded processing seems to indicate a sustained recovery across the business rather than a temporary growth spurt. Industrial revenue grew 30% year over year, with broad-based demand across geographies and sectors. The company's automotive business also noted a solid mid-teens increase over the year-ago quarter.

The data center market is another reason investors should be bullish on Texas Instruments in the long term. Data center revenue doubled year over year and increased 20% over the previous quarter. CEO Haviv Ilan said, "I think there is more tailwind ahead."

What's more, Texas Instruments could generate even higher revenue, given its additional manufacturing capacity. This will allow Texas Instruments to handle short-lead-time orders that competitors may take longer to fill. This is a clear competitive advantage for the company, allowing it to continue benefiting from growing investment in artificial intelligence (AI) infrastructure.

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Why the stock fell and is still a buy The company's third-quarter guidance wasn't as strong as investors expected. Analysts expected third-quarter revenue guidance of $5.9 billion. Instead, management guided for revenue to be between $5.65 billion and $6.15 billion. That range leaves room for revenue to come in lower than estimates, which is why the stock is down.

The main reason for the soft revenue guidance is not demand but the impact of price increases. The company has begun raising prices, but management doesn't expect those increases to affect revenue until the fourth quarter.

The stock's sell-off appears to be driven by a focus on short-term issues rather than the company's long-term growth trajectory. Management noted that data center demand is also driving growth for the industrial business, providing a stronger tailwind than perhaps Wall Street realizes.

One reason to like the stock is its above-average dividend yield of about 2.1%. That is attractive for a top semiconductor company, with 22 consecutive years of dividend increases. The dividend is funded entirely by free cash flow, which came in at a healthy $6.5 billion on a trailing-12-month basis.

Analysts also expect earnings to grow by around 23% annually in the coming years. It's rare to find a top tech stock benefiting from the AI build-out that offers both a 2% dividend yield and high-double-digit earnings growth prospects, making Texas Instruments an interesting opportunity for investors.

Netflix (NFLX -2.00%) trades at $72.39 as of this writing, down about 43% from its 52-week high of $126.71. Along the way down, something notable happened to the stock's price tag: Shares finally look reasonably priced. The stock now costs about 20 times the earnings analysts expect from the company over the coming year. At last year's high, the same forward estimate would have priced the stock in the mid-30s.

The rapid-growth premium, in short, is gone. The interesting question is what the stock is worth by 2029 if the business simply keeps doing what its own guidance describes. The arithmetic is worth walking through.

Image source: The Motley Fool.

The business behind the de-rated price Netflix's second-quarter results, reported in mid-July, show a company still growing at a double-digit pace -- just a slower one. Revenue rose 13% year over year to $12.6 billion, in line with the company's forecast. But the trajectory is what the market is watching: growth of 16.2% in the first quarter became 13.4% in the second, and management's third-quarter forecast implies about 12%. That's a clear deceleration.

For the full year, Netflix expects revenue of $51.0 billion to $51.4 billion, or 13% to 14% growth, along with an operating margin of 31.5%, up from 29.5% in 2025. That margin target implies operating income growth of more than 20% this year. Profits, in other words, are still compounding meaningfully faster than sales. Second-quarter operating income rose 11% year over year to $4.2 billion, and the company still expects about $12.5 billion of free cash flow for the year -- enough to support substantial share repurchases.

Two other pieces matter for the next three years. The first is advertising. Management projects the streaming service's ads revenue will roughly double in 2026 to approximately $3 billion. That's only about 6% of total revenue, but it's a fast-growing 6%, and it gives Netflix another growth lever beyond subscription price increases.

The second is share repurchases. Netflix bought back $4.7 billion of stock in the second quarter, its largest quarter ever, and it has $27.1 billion of authorization remaining.

The company's balance sheet drama has also cleared. Its agreement to buy Warner Bros. Discovery's streaming and studios businesses, including HBO Max, was terminated in February, and Netflix collected a $2.8 billion termination fee for its trouble.

The arithmetic to 2029 Now the forward math, piece by piece, with round numbers.

If revenue growth eases from about 13% this year to about 10% by 2029 (a continued glide, not a sharp break), revenue lands near $68 billion to $70 billion in 2029.

Margins should keep helping. Netflix has expanded its operating margin by about two percentage points a year recently. Assume that pace slows, and the margin settles around 35% by 2029. That puts operating income near $24 billion, up about 50% from this year's implied level.

Buybacks then do their part. Add a steadily shrinking share count, and earnings per share could plausibly reach about $5.00 to $5.50 in 2029, up from the roughly $3.50 analysts expect over the coming year.

The last variable is the multiple. Hold today's 20 times forward earnings, and those figures imply a stock price somewhere near $100 to $110 by 2029. Stretch the multiple range from 18 to 22 (pessimism on one end, a mild rerating on the other), and the band widens to about $90 to $120.

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From $72.39, the midpoint of that range works out to an annualized return of about 13%. Not spectacular, but comfortably ahead of what most investors should expect from the broader market. And it requires no heroics, only Netflix hitting the trajectory its own guidance already sketches.

Of course, the arithmetic cuts the other way if the deceleration doesn't stop. If revenue growth slides through 10% and keeps going, the margin story eventually stalls with it, and a market already refusing to pay a premium could mark the multiple down further. That's the scenario the current price is bracing for.

My own read is that Netflix by 2029 is probably a $90-to-$120 stock, and the outcome inside that range comes down to growth stabilizing in the double digits. That's a fair price today, not an obviously cheap one. I'm not buying yet, but a quarter or two of steadier revenue growth would probably change my answer.

3 Utility Stocks With Strong Dividends and Room to Run HigherWEC Energy Group NYSE: WEC reported second-quarter 2026 earnings of $0.91 per diluted share, up $0.15 from the same period a year earlier, and reaffirmed its full-year earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the remainder of the year.

President and Chief Executive Officer Scott Lauber said the company’s results reflected continued execution, financial discipline and operating efficiency. Management also maintained its long-term outlook for compound annual earnings-per-share growth of 7% to 8% from 2026 through 2030, based on the midpoint of 2025 adjusted guidance, and expects growth to move toward the upper half of that range beginning in 2028.

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Data-center development supports capital plan 3 Utility Stocks That Will Benefit from Less RegulationLauber pointed to continued data-center development in Wisconsin as a foundation for the company’s $37.5 billion five-year capital investment plan. The plan is focused on projects management characterized as low risk and executable, including investments to serve large customers. WEC expects approximately 15% of its asset base to be dedicated to very large customers by the end of 2030.

At Microsoft’s Pleasant Prairie site, the first data-center facility is fully operational, Lauber said. Microsoft has acquired more than 2,200 acres in the I-94 corridor south of Milwaukee, where WEC is preparing to serve a forecasted 2.6 gigawatts of demand through 2030, with potential for additional expansion.

3 undervalued stocks: Is now the right time to buy?North of Milwaukee, Vantage Data Centers is constructing facilities for Oracle on about 1,900 acres. The initial phase is being built on 670 acres, with Vantage expecting to invest $15 billion to complete that phase in 2028. Structural framework has been completed on multiple buildings, and the first facility could enter service as early as late 2027, according to Lauber.

WEC currently forecasts 1.3 gigawatts of demand at the Vantage site over the next five years, with potential demand eventually reaching 3.5 gigawatts. Lauber said the company is also discussing potential projects with other large customers, generally in the range of 400 to 500 megawatts rather than the scale of the Microsoft and Vantage developments.

Construction is also continuing on natural-gas generation facilities in Paris and Oak Creek, Wisconsin, which WEC expects to begin coming online in late 2027. Looking ahead, Lauber said a future plan could include a combined-cycle generating facility rather than only simple-cycle generation, as the company evaluates the need for both energy and capacity to support customer demand.

Second-quarter earnings drivers Chief Financial Officer Xia Liu said utility operations contributed $0.06 more to earnings than in the second quarter of 2025. Weather reduced quarter-over-quarter earnings by approximately $0.05, as weather had an estimated negative $0.03 impact in the 2026 quarter compared with a positive $0.02 effect a year earlier.

Rate-base growth added $0.13 per share, including $0.09 from incremental allowance for funds used during construction equity and $0.02 from incremental cash returns associated largely with projects under construction supporting very large customers. Sales growth, taxes and other items added a combined $0.06.

Those gains were partly offset by $0.05 from higher depreciation and amortization expense and $0.03 from higher day-to-day operations and maintenance costs. At American Transmission Company, capital investment growth added $0.03 to quarterly earnings versus the prior-year period.

Weather-normalized retail electric sales increased 4.2% year over year, driven by very large customers. Excluding the iron ore mine and very large customers, sales rose 1.2%, supported by higher volumes across all customer classes. Despite the quarterly performance, management expects full-year 2026 weather-normalized electric sales, excluding those customers, to be relatively even with 2025.

The energy infrastructure segment’s earnings increased $0.11 per share from the prior-year quarter. Liu said the comparison included the absence of a prior-year storm-related asset impairment and an insurance payment received during the current quarter, which together accounted for a net $0.04. The remaining improvement was largely related to operations and maintenance timing, production tax credits, capacity payments and other items. Liu said some of the favorable O&M timing is expected to reverse in the fourth quarter.

Regulatory and financing updates In May, the Public Service Commission of Wisconsin issued its written order for WEC’s very large customer tariff. Lauber said the tariff requires large customers to pay their full share of costs. The company is working with Oracle to update financial security requirements for the Port Washington project in accordance with commission requirements.

Lauber said Oracle remains committed to the project and that construction is continuing on time and on budget. He said the company sees other potential users for the site in a worst-case scenario in which Oracle did not expand, but added that he had no indication such an outcome was expected.

WEC’s Wisconsin rate request for forward-looking test years 2027 and 2028 remains pending. Staff and intervener testimony is due in mid-August, with final commission orders expected by year-end and new rates scheduled to take effect in January 2027 and 2028. In Illinois, the Illinois Commerce Commission in May unanimously approved settlements involving the Rider QIP and bad-debt rider, resolving 12 open dockets. WEC also expects a decision by year-end on its Illinois utility rate request for the 2027 test year.

Liu said WEC had locked in about $760 million of common equity in the first half, including approximately $40 million under an employee benefit plan and $720 million through forward contracts under its at-the-market program. The company expects to issue about $1.1 billion of common equity during 2026 and said incremental capital beyond the current plan is expected to carry 50% equity content.

For the third quarter, WEC expects earnings of $0.92 to $0.98 per share, incorporating July weather and assuming normal weather for the balance of the quarter. The board’s 6.7% dividend increase announced in January marked the company’s 23rd consecutive year of higher dividends, Lauber said.

About WEC Energy Group (NYSE:WEC)WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.

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Zurn Elkay Water Solutions Cor NYSE: ZWS reported second-quarter organic sales growth of 10% and adjusted EBITDA growth of 15%, supported by demand in its Water Safety and Control and Drinking Water product lines, higher pricing, and margin expansion.

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Second-quarter sales totaled $491 million, while adjusted EBITDA reached $136 million. Adjusted EBITDA margin expanded 120 basis points from a year earlier to a record 27.7%, exceeding the company’s prior guidance range of 27% to 27.5%.

Chairman and Chief Executive Officer Todd Adams said the company generated $112 million in free cash flow during the quarter and repurchased $50 million of shares at roughly $48 per share. Year-to-date share repurchases totaled $100 million.

Demand, pricing and profitability Chief Financial Officer Dan Klun said institutional end markets continued to show positive momentum, partly offset by residential weakness and pockets of softness in commercial markets. Price contributed approximately 5% to second-quarter growth, consistent with the first quarter.

Water Safety and Control and Drinking Water grew faster than the company average during the quarter, according to Klun. During the question-and-answer session, Adams said those two platforms were growing somewhat faster than Flow Systems, while Hygienic and Environmental remained positive but grew at a slower rate.

The company attributed margin improvement to operating leverage on higher volume, productivity efforts under its Zurn Elkay Business System, and favorable mix as higher-margin products led growth. First-half sales and EBITDA increased $91 million and $36 million, respectively, from the prior year. The company’s first-half adjusted EBITDA margin was 27.3%, up about 140 basis points year over year.

Klun also noted that the company received $48 million in cash related to IEPA and reciprocal tariff refunds, including $2 million of accrued interest. The refund was recorded in cost of goods sold and affected reported GAAP earnings and earnings per share, but was excluded from adjusted earnings and free cash flow. As of June 30, Zurn Elkay had about $60 million of IEPA and reciprocal tariffs that remained uncollected and unrecognized in its financial statements.

Net debt leverage ended the quarter at 0.3 times, the lowest level in the company’s history as a public company, Klun said.

Intellihot acquisition expands water-heating presence Zurn Elkay recently completed its acquisition of Intellihot, a producer of commercial tankless condensing water heaters. Adams said the company paid $109 million for the business, or $100 million net of a tax asset. Intellihot is expected to generate about $37 million of sales in 2026, with gross margins of about 50% and EBITDA margins in the low teens.

Management said the transaction adds a $1.1 billion commercial water-heating market to its addressable market, including a tankless segment of more than $200 million. President Jeff Schoon said tankless water heating is growing faster than the broader commercial water-heating category, driven by efficiency regulations, building-owner concerns around Legionella risk, smaller mechanical-room requirements, and operating-cost savings.

Adams said Zurn Elkay sees a path for Intellihot to become a $100 million business with a 30% EBITDA margin within five to six years, and expects a double-digit return on invested capital in three years. The company plans to use its specification, contractor, wholesaler and end-user relationships to expand Intellihot’s reach, while also pursuing supply-chain and operational improvements.

Management said Intellihot was not acquired for a near-term earnings contribution. For the final five months of 2026, Klun estimated the acquisition would contribute about $18 million in net sales.

Drinking Water and portfolio initiatives Chief Operating Officer Dave Pauli said adjusted EBITDA margins have improved 660 basis points on a trailing 12-month basis from the first quarter of 2023 through the second quarter of 2026. On a point-to-point basis, margins rose 820 basis points over 14 quarters, from 19.5% in the first quarter of 2023 to 27.7% in the latest quarter.

Pauli cited continuous-improvement initiatives, growth in higher-margin product lines, portfolio pruning under the company’s 80/20 strategy, manufacturing footprint consolidation, and sourcing changes as contributors. He said the company’s efforts to reduce sourcing from China have provided both geopolitical risk mitigation and a lower landed-cost profile.

In Drinking Water, the company said its filtration business has grown from less than $25 million of sales before the Elkay merger to more than $60 million expected this year. Zurn Elkay expects more than 60% of Drinking Water units sold in 2026 to be filtered, compared with 50% in 2023, and is targeting 70% in 2027.

The company highlighted its Elkay Pro Filtration platform, which adds easier filter replacement, options for two filters, connectivity features and proprietary filter heads intended to prevent use of counterfeit filters.

Outlook raised Following its first-half performance, Zurn Elkay raised its full-year outlook for sales, adjusted EBITDA and free cash flow. The company expects third-quarter core sales growth of 6% to 7% and adjusted EBITDA margin of about 28%. Fourth-quarter core sales growth is expected to be in the mid-single digits.

For 2026, including Intellihot, the company expects adjusted EBITDA of $503 million to $513 million and free cash flow of at least $350 million, excluding past and future IEPA reciprocal tariff refunds.

Adams said the company’s full-year assumptions include three to four percentage points of pricing, about one point of market growth, and additional growth from share gains and exposure to higher-growth categories. He said the outlook incorporates the transition from expired Section 122 tariffs to newly announced Section 301 tariffs.

About Zurn Elkay Water Solutions Cor (NYSE:ZWS)Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.

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Tesla (TSLA +0.76%) is not having a good year. The company's shares took a major dip after it reported its second-quarter earnings on July 22, and they are down 28% to date. Tesla's results weren't terrible, but the company's capex is growing rapidly and squeezing profits and margins. Many investors fear that this spending won't yield the return Tesla expects. However, several aspects of the business are progressing steadily, including its supervised Full Self-Driving (FSD) subscriptions. Is that a good enough reason to buy the stock?

Image source: The Motley Fool.

It could be a game changer, but there are risks Tesla ended the second quarter with 1.48 million active FSD subscriptions, up 56% from the year-ago period. At $99 per month, that works out to about $1.8 billion per year. That still represents a fairly small percentage of the company's annual revenue, which was about $94.8 billion last year. However, Tesla's FSD subscriptions generate significantly higher margins than its core electric vehicle (EV) business. So, this segment should represent a larger share of operating profits than it does revenue. Further, there are at least two reasons to be excited about the future of this business.

First, as Tesla points out, FSD subscriptions are increasingly popular. As the company's CEO, Elon Musk, said: "We're seeing in locations that have FSD approved, we're seeing a very high take rate of FSD." He went on to say that consumers want the FSD software with whatever car it's paired with, a dynamic that could drive sustained demand for the company's EVs as it earns approvals for its FSD software in more places. Second, Tesla's FSD global fleet has racked up more than 12 billion cumulative miles on the road.

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There is a network effect going on here. The more drivers in its ecosystem, the more data from real-world conditions it has to train and improve its FSD software, which in turn attracts even more drivers. Tesla's robotaxi service can also benefit from a growing number of FSD subscriptions for the same reason, and that's where the company's long-term opportunity lies. If it can scale its fleet of robotaxis within the next year and, perhaps, close the gap with one of its biggest competitors, Waymo, Tesla's stock could rebound.

Does any of this make the stock a buy? There is considerable uncertainty regarding Tesla's ability to scale its robotaxi service, secure additional FSD approvals in other regions, and train its software. In the meantime, the company's financial results may remain unimpressive, particularly on the bottom line, as it doubles down on spending to capitalize on potential opportunities. The stock is risky and will be volatile, whichever way it moves. Investors should consider that before even thinking about initiating a position in Tesla.

W.P. Carey NYSE: WPC raised its 2026 outlook for investment volume and adjusted funds from operations, citing continued acquisition activity, higher lease revenue and a balance sheet it said is positioned to fund investments into 2027.

Chief Executive Officer Jason Fox said the company completed more than $700 million of investments during the second quarter, bringing first-half investment volume to $1.3 billion. The investments carried a weighted average initial cash cap rate of 7.4%, and Fox said rent escalations and an average 18-year lease term translate to an average yield above 9%.

The company increased its full-year investment-volume guidance to $1.7 billion to $2.1 billion, from a prior range of $1.5 billion to $2 billion. Fox said W.P. Carey’s near-term pipeline includes several hundred million dollars of prospective investments, while 10 capital projects under its Carey Tenant Solutions initiative are expected to add roughly $300 million of investment volume over the next 18 months.

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GardenCore transaction leads second-quarter activity The largest investment completed in the quarter was a $400 million sale-leaseback transaction with GardenCore, a U.S. manufacturer of lawn and garden consumables. The portfolio includes 43 manufacturing, packaging and industrial outdoor storage facilities in 24 states, leased under a 20-year triple-net master lease with fixed rent escalations.

Fox said GardenCore is now W.P. Carey’s fourth-largest tenant. He described the transaction as attractive because of the defensive nature of the tenant’s business, the mission-critical properties and the rent-growth structure.

Warehouse and industrial properties accounted for the majority of second-quarter investment activity. Fox said the split between U.S. and European investments was broadly consistent with the company’s long-term average. He said cap rates on deals closed in the second quarter were somewhat higher than in the first quarter because of the timing of individual closings, rather than a broader market shift.

For the full year, the company expects cap rates to average in the mid- to low-7% range. Fox said the company has not experienced a noticeable effect on transaction activity from tensions in the Middle East.

AFFO guidance raised as rent growth accelerates Chief Financial Officer Toni Sanzone said second-quarter AFFO per share was $1.34, up 4.7% from a year earlier. W.P. Carey raised and narrowed its full-year AFFO guidance to $5.19 to $5.27 per share, increasing the midpoint by $0.02 and implying 5.2% year-over-year growth.

Sanzone said the updated outlook reflects stronger investment activity, rising lease revenues, higher CPI-linked rent increases, a more favorable outlook for rent loss, and lower expected property and tax expenses. Those benefits are partly offset by the effect of forward equity settled during the second quarter.

Contractual same-store rent growth was 2.6% year over year in the quarter. CPI-linked escalations, representing 49% of same-store leases, averaged 2.7%, while fixed escalations, representing 48%, averaged 2.5%. The company expects full-year contractual same-store rent growth of 2.6%, with growth trending modestly higher in the second half and potentially moving toward the mid- to high-2% range in 2027 based on current inflation expectations.

W.P. Carey lowered its expected rent loss from tenant credit events to $7 million to $10 million, from $8 million to $12 million previously. Through June, rent loss across the portfolio, including Hellweg, totaled $1.7 million after certain rent recoveries, according to Sanzone.

Hellweg exposure reduced Fox said the company has reduced its Hellweg exposure over the past two years to 16 stores from 35 through lease terminations, re-leasing and asset sales. Hellweg recently filed for insolvency, but W.P. Carey said its remaining gross exposure is only 90 basis points of annualized base rent and the tenant is no longer among its top 20 tenants.

Hellweg did not make its June rent payment of about $1.2 million but paid July rent in full, Sanzone said. W.P. Carey’s guidance assumes it receives no additional Hellweg rent during the rest of 2026, while recognizing three months of bank guarantees. That results in an assumed net rent loss of about $3 million from Hellweg this year.

The company has springing leases on half of the remaining Hellweg stores at rents comparable to Hellweg’s prior rents. Fox said management is in discussions with prospective tenants and buyers for the remaining locations and expects lease agreements or asset sales to be arranged by year-end.

Capital markets activity supports investment plans W.P. Carey said it has sold nearly $900 million of forward equity and issued approximately $1.5 billion of bonds so far this year. During the second quarter, it sold 5.3 million shares on a forward basis for gross proceeds of $392 million and settled 5.1 million forward shares for net proceeds of $345 million.

At quarter-end, the company had 9.9 million shares remaining to settle, representing anticipated net proceeds of $691 million. Together with its largely undrawn $2 billion credit facility, W.P. Carey reported approximately $2.7 billion of liquidity.

The company also issued $350 million of 10-year U.S. dollar bonds at a 5.2% coupon rate, with the transaction settling in early July. Proceeds are intended to prepay an October bond maturity without prepayment costs. W.P. Carey said it has no remaining debt maturities in 2026, with its next maturity a €500 million bond due in April 2027.

Net debt to adjusted EBITDA was 5.1 times including unsettled forward equity, or 5.5 times excluding it, at the low end of the company’s target range. In June, W.P. Carey increased its quarterly dividend 4.4% year over year to $0.94 per share.

About W.P. Carey (NYSE:WPC)W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.

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Why Welltower's Growth Story Might Outrun Its Rich ValuationVentas NYSE: VTR raised its 2026 investment and earnings outlook after reporting second-quarter growth led by its senior housing operating portfolio, or SHOP, as occupancy gains and rent growth lifted property-level results.

Chairman and Chief Executive Officer Debra A. Cafaro said the company generated 10% total-company same-property net operating income, or NOI, growth in the quarter. U.S. SHOP NOI rose 18% year over year, accompanied by 360 basis points of occupancy growth, she said. Normalized funds from operations, or FFO, increased 9% from a year earlier to $0.97 per share.

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6 largest healthcare REITs to buy and how to invest The company increased its full-year normalized FFO guidance to a range of $3.85 to $3.90 per share, representing projected growth of 8% to 10%. Ventas also lifted its expected 2026 investment volume to $4.5 billion from $3 billion, primarily focused on senior housing.

Senior Housing Drives Operating Results Executive Vice President, Senior Housing and Chief Investment Officer Justin Hutchens said same-store SHOP NOI increased 16% year over year during the second quarter, with the U.S. portfolio contributing 18% growth. Same-store average occupancy rose 300 basis points across the portfolio and 360 basis points in the U.S.

Analysts See Strong Upside Trade for Undervalued REITsWithin NIC’s top 99 markets, Ventas’ same-store communities outperformed industry occupancy averages by about 150 basis points, according to Hutchens. Revenue per occupied room, or RevPOR, increased 5%, reflecting both in-place rent increases and higher move-in rents.

Same-store revenue grew nearly 9%, while operating expenses increased 5%. That combination expanded NOI margins by 210 basis points to 31%, while incremental margin flow-through reached 55%.

Hutchens said the company’s U.S. senior housing portfolio is 87% occupied, while its non-same-store portfolio is 83% occupied. The non-same-store group represents about 25% of SHOP NOI and includes acquisitions, transitions and redevelopment projects.

Ventas is maintaining its same-store SHOP NOI growth outlook of 16% at the midpoint. The company raised its full-year occupancy-growth target to 300 basis points from 270 basis points after a strong start to the year, and management said the May-through-September key selling season was tracking in line with its expectations.

Hutchens highlighted performance at more highly occupied communities as evidence of further opportunity. The approximately half of U.S. same-store communities that were at least 90% occupied posted 25% NOI growth and 6% RevPOR growth. About 10% of the company’s SHOP communities were at or near full occupancy, and those U.S. properties were producing about 7% RevPOR growth and roughly 20% NOI growth, he said.

Investment Outlook Raised to $4.5 Billion Ventas completed more than $3 billion of senior housing-focused investments across 27 transactions year to date, Hutchens said. The investments were underwritten to double-digit to mid-teens unlevered internal rates of return, had an average expected first-year yield of 6.6%, and were acquired at an average price of $358,000 per unit.

The company expects to complete approximately another $1 billion of investments under contract, with that group expected to produce yields and returns similar to its completed investments. About two-thirds of that pending activity is value-add product with a higher growth profile, Hutchens said.

More than 90% of year-to-date investments were relationship-driven, including off-market transactions and transactions involving repeat sellers or existing operating partners. Hutchens said Ventas’ underwriting and data capabilities have helped the company close transactions in about two months from start to finish.

Cafaro said Ventas has completed more than $8 billion of investments since the beginning of 2024, adding more than 23,000 units across 174 communities to its SHOP portfolio. The company expects SHOP to represent 60% of its $60 billion enterprise by the end of 2026.

Management said demographic demand and limited new supply continue to support its senior housing strategy. Cafaro said the leading edge of the nearly 70 million baby boomers began turning 80 in 2026, while new senior housing construction starts remain at record lows.

On development, Hutchens said Ventas is primarily focused on acquiring in-place cash flows rather than developing new properties. He said current rents would generally need to be at least 25% higher for projects to generate the roughly 8% development yield that developers may seek, though luxury projects in select markets could be exceptions.

Balance Sheet Strength and Capital Recycling Chief Financial Officer Robert Probst said net debt to EBITDA improved to 4.7 times at the end of the second quarter, the company’s lowest leverage level in more than a decade. That was a 90-basis-point improvement from a year earlier and a 30-basis-point sequential improvement.

Ventas completed $3.4 billion of investments year to date and raised $4.2 billion of equity, including $1.6 billion that remained unsettled at quarter-end. Liquidity totaled $4.9 billion.

The updated normalized FFO guidance midpoint of $3.88 per share is $0.02 above the prior midpoint. Probst said higher senior housing investment activity, net of additional capital recycling, contributed $0.03 per share to the improvement. That was partly offset by $0.01 per share from higher interest rates and a higher share price.

The company increased its disposition and loan repayment assumptions to $700 million, with sales expected to focus on non-SHOP and non-strategic assets. Probst characterized the disposition activity as portfolio “hygiene” intended to improve the company’s growth rate. Management said approximately $100 million of anticipated loan repayments carry an 11% yield.

Other Portfolio Performance Ventas’ outpatient medical and research portfolio, known as OMAR, generated 5% same-store cash NOI growth in the second quarter. After adjusting for cash fee income, outpatient medical same-store cash NOI growth was 3%, supported by a 50-basis-point occupancy improvement and 88% tenant retention.

The triple-net portfolio generated 3% same-store cash NOI growth, and Probst said the company expects the portfolio’s year-over-year NOI growth rate to increase in the second half.

In the research portfolio, Hutchens said several tenants did not renew leases, producing an expected year-over-year NOI impact of about $900,000. He said the second-quarter run rate in research is expected to reflect the remainder of the year.

About Ventas (NYSE:VTR)Ventas, Inc NYSE: VTR is a real estate investment trust (REIT) that specializes in healthcare-related real estate. The company acquires, owns and manages a diversified portfolio of properties serving the healthcare continuum, including senior housing communities, skilled nursing facilities, medical office buildings, life science and research centers, and other properties leased to healthcare providers and operators. Ventas generates revenue through long-term leases, property management and selective development activities focused on meeting the real estate needs of the healthcare sector.

Ventas' business model combines property ownership with active asset management and capital markets activity.

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3 Low-Volatility Plays Quietly Making a Name For ThemselvesWaste Management NYSE: WM reported second-quarter operating EBITDA growth of 5.5%, or 9.1% excluding contributions from wildfire cleanup activity in the prior-year period, as pricing discipline, cost controls and technology investments supported profitability despite softer volume trends.

Chief Executive Officer Jim Fish said operating EBITDA margin expanded 40 basis points during the quarter, overcoming a 60-basis-point headwind from prior-year wildfire volumes and a 40-basis-point headwind tied to higher energy surcharges. Free cash flow increased 35% in the quarter, supported by earnings growth, lower capital expenditures and working-capital benefits.

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2 Stocks Built to Thrive If Inflation Refuses to FadeThe company narrowed its full-year revenue outlook to between $26.275 billion and $26.475 billion, a reduction of about 1.5%, reflecting softer-than-expected Collection and Disposal volumes, lower recycling brokerage activity and delays connecting certain renewable natural gas plants to pipelines. Management maintained its full-year operating EBITDA and free-cash-flow guidance and raised its margin outlook by 20 basis points.

Margins Expand as Collection Costs Remain Contained President John Morris said operating expenses remained below 60% of revenue for the sixth consecutive quarter, despite the combined effects of prior-year wildfires and increased fuel prices. Labor costs rose approximately 4%, but collection operating costs increased less than 1.7% from the second quarter of 2025, according to Morris.

3 Waste Stocks Turning AI Investments Into GrowthManagement attributed the cost performance to productivity initiatives, pricing actions, automation, process discipline and technology investments. Fish said WM’s Smart Truck platform, which uses technology including artificial intelligence, is generating more than $300 million in annual run-rate operating EBITDA through service upgrades, route optimization and lower operating costs.

Chief Financial Officer David Reed said Collection and Disposal improvements contributed 140 basis points of margin growth, while recycling, renewable energy and Healthcare Solutions together added 40 basis points. Those gains were partly offset by roughly 40 basis points from higher technology investments and the timing of risk-management costs in the company’s corporate and other segment.

SG&A expense improved by 60 basis points to 9.9% of revenue, returning below 10% for the first time since the company acquired its Healthcare Solutions business in 2024. Reed said WM expects full-year SG&A to be around 10% of revenue.

Volumes Softer, but Management Cites Industrial and Special-Waste Strength Collection and Disposal volumes declined 0.4% in the second quarter excluding the impact of prior-year wildfire activity. The company now expects volumes to be relatively flat in the second half and to decline by nearly 1% for the full year, or about 50 basis points excluding the 2025 wildfire-cleanup impact.

Morris said residential volume declines improved by 200 basis points sequentially to negative 2.9%, and the company expects those losses to continue moderating in coming quarters. Special-waste volumes rose 4.5% excluding wildfire activity, while industrial collection volumes showed modest growth.

Fish said the company did not see signs that broader economic weakness was driving the volume shortfall. He pointed to special-waste growth and industrial roll-off volumes that were slightly positive over the preceding four weeks. Instead, he said commercial volumes were affected primarily by lost national accounts, which management characterized as a more limited issue rather than evidence of broader competitive deterioration.

Higher energy surcharges are expected to generate about $175 million of additional 2026 revenue, Reed said, partially offsetting an estimated $250 million revenue reduction from lower Collection and Disposal volumes. The company also expects approximately $75 million less revenue from sustainability operations due to lower recycling brokerage volume and delayed RNG pipeline interconnections.

Recycling, Renewable Energy and Healthcare Solutions Contribute WM processed 12% more recyclables year over year during the quarter. Fish said recycling automation projects have delivered a sustained 30% improvement in labor cost per ton compared with legacy facilities. Chief Operating Officer Tara Hemmer said the company has completed 38 of the 39 recycling-facility projects included in its capital plan, with the final project expected to come online in 2027.

Hemmer said commodity prices were down year over year, though the company has seen improving prices for old corrugated containers and some positive movement in plastics. WM began the year using a full-year commodity-price outlook of $70 per ton; Hemmer said the full-year outlook may be somewhat higher, though that benefit could be offset by operational effects related to a fire at an Arizona facility.

The company produced an additional 1.6 million MMBtu of renewable natural gas during the quarter. However, two completed plants have not yet begun delivering gas into pipelines because of third-party interconnection work. Management said it expects the plants to be connected by year-end. Hemmer said WM has locked up 90% of its 2026 renewable identification number volume and has pre-sold roughly one-third of its expected 2027 RINs.

Healthcare Solutions expanded operating EBITDA margin by 200 basis points to 19%. Morris said SG&A expense in the segment declined 15% and improved 290 basis points as a percentage of revenue. Fish said the business is now integrated following the Stericycle acquisition, with days sales outstanding improving and customer credits declining after peaking in the fourth quarter.

Cross-selling initiatives have generated $32 million of annual operating EBITDA to date, and WM remains on track to deliver more than $300 million in total synergies by the end of 2027. Management expects core pricing in Healthcare Solutions to exit 2026 above 5.5%.

Cash Flow, Capital Allocation and Outlook For the first six months of 2026, operating cash flow rose more than 17% to $3.23 billion, while capital spending declined more than 18%. Free cash flow increased more than 56% to $2.02 billion, representing operating EBITDA conversion approaching 52%.

WM used $1 billion for share repurchases and paid $764 million in dividends during the first half. The company ended the quarter with leverage of 2.96 times, within its targeted range of 2.5 times to 3 times, and expects leverage to decline in the second half.

Fish said WM closed $235 million of solid-waste tuck-in acquisitions during the quarter and expects to increase core acquisition activity after returning leverage to its targeted range following the Stericycle purchase. The company also raised its 2026 operating EBITDA margin expectation to between 31% and 31.2%.

About Waste Management (NYSE:WM)Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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Old Money, New Tech: Western Union's Crypto RebootWestern Union NYSE: WU reported second-quarter 2026 revenue of $1 billion, with adjusted revenue declining 1% from a year earlier, as continued weakness in Americas retail money transfers and a shift toward lower-profit digital payout transactions weighed on results.

Adjusted earnings per share were $0.31, down from $0.42 in the prior-year quarter and below the company’s expectations. Chief Executive Officer Devin McGranahan said the result reflected lower profitability in the Americas retail business, lower profitability in the Middle East, higher agent commissions and continued migration from cash payouts to digital account and wallet payouts.

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5 best fintech stocks to buy now“Our financial results in this quarter came in below our expectations for the second quarter in a row,” McGranahan said. “This is not acceptable, we are not satisfied with the current operating performance and will be implementing significant changes as a result.”

Transaction Growth Improves, but Mix Pressures Margins Consumer Money Transfer transactions increased 3% year over year, marking the company’s highest transaction growth rate since the second quarter of 2024. McGranahan said the result was a 300-basis-point improvement from the first quarter and a 600-basis-point improvement from the prior year.

However, the growth came disproportionately from lower-contribution-profit channels. The company said cash payouts generally generate higher revenue per transaction and contribution profit per transaction than digital payout transactions. Western Union has also seen rapid growth in digital payout-to-account and payout-to-wallet activity, which management said has created margin headwinds.

Account payout transactions grew 50% during the quarter, while CEO McGranahan said payout-to-account and payout-to-wallet transactions have increased 25% over the past 12 months. He cited Colombia as an example of the changing mix, where remittance volumes have shifted from cash payouts toward bank accounts, the Nequi wallet and the country’s Bre-B real-time payments system.

Chief Financial Officer Matt Cagwin said retail money transfers in the U.S. remained under pressure because immigration policy has reduced new migration, which management described as a key source of new retail customers. U.S. retail transactions remained down in the mid-teens during the quarter, though U.S.-to-Mexico transaction declines improved to slightly more than 3%.

Management said policy-related impacts have stabilized in some corridors and improved from the lows of 2025, but have not eased as much as the company expected at the beginning of the year.

Digital and Consumer Services Growth Continue Western Union’s Branded Digital business recorded 25% transaction growth and 6% adjusted revenue growth in the second quarter. The company said much of that growth was driven by partnerships in the Middle East, where transaction volumes have expanded but revenue per transaction and profitability are lower than in its traditional licensed operations.

McGranahan said the company has started to pull back on certain promotional offers in the U.S. and Europe after determining that aggressive customer incentives were not delivering acceptable longer-term returns. He said new-customer growth has recently improved at higher revenue per transaction levels.

The company is also accelerating deployment of its Beyond Digital platform, with planned launches in Australia, Europe and the U.S. before year-end. Western Union expects the platform to improve onboarding and customer acquisition returns, and continues to target deployment across major markets by the end of 2027.

Consumer Services adjusted revenue rose 12%, supported by Bill Pay, Travel Money and check-cashing contributions. Consumer Services represented 15% of total revenue during the quarter, compared with 6% in 2022, according to Cagwin. Segment profitability declined, however, due to lower Travel Money operating profit, lower float income in Retail Money Order and delayed overhead reductions tied to a check-cashing acquisition.

Beyond Efficiency Program Targets $200 Million Run Rate Western Union launched a cost-reduction initiative called Beyond Efficiency, targeting $50 million in run-rate operating cost reductions by the end of 2026 and $200 million by the end of 2027. The program includes reducing redundant work, cutting discretionary operations and technology capacity by 20%, expanding automation and artificial intelligence use, localizing certain operating functions and reducing the costs of moving money.

Among the actions, the company plans to close its existing digital wallets in Europe, which management said should save $6 million to $8 million on a run-rate basis. Western Union expects to replace those wallets with its Beyond Digital platform by the end of the year.

Management also said it is pursuing lower digital payout costs. McGranahan said the company recently reduced the payout cost for transactions to Colombia’s Nequi wallet from more than $2 to less than $0.50.

Digital Asset Initiatives and Updated Outlook Western Union said it launched its USDPT U.S. dollar stablecoin in May and has made it available through four exchanges. The company is testing USDPT with counterparties for settlement of cross-border money transfers and has introduced a Treasury Bridge solution intended to improve liquidity movement and settlement speed.

The company also launched its Digital Asset Network, designed to connect exchanges and digital-asset partners to Western Union’s payout infrastructure. McGranahan said the first partner is live, with several additional launches expected in coming weeks. Western Union also launched its USDPT Stablecard.

For 2026, Western Union now expects adjusted revenue growth of 4% to 6%, including the planned Intermex acquisition and assuming a Sept. 1 close. The company expects adjusted EPS of $1.25 to $1.35 for the year, with second-half earnings anticipated to exceed first-half earnings due to new agent wins, seasonality, improved revenue mix and efficiency actions.

Western Union generated $214 million in year-to-date operating cash flow, up 45% from the prior year, and ended the quarter with $920 million of cash and cash equivalents and $2.7 billion of debt. The company returned more than $80 million to shareholders through dividends and repurchases during the quarter, but said it has paused buybacks to maintain targeted leverage levels while awaiting the Intermex transaction.

About Western Union (NYSE:WU)Western Union Company NYSE: WU is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.

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MarketBeat Week in Review – 04/27 - 05/01Virtu Financial NYSE: VIRT said its second-quarter 2026 performance reflected favorable market conditions, continued growth in its trading-capital base and investments in technology and talent, with management pointing to all-time highs in several trailing 12-month profitability measures.

Chief Executive Officer Aaron Simons said the company has made progress on a growth plan announced a year earlier, which included investments in infrastructure, talent and capital. He said Virtu has invested in power and computing capacity, begun establishing select partnerships through investments, and continued recruiting in key technical and trading roles.

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The Volatility Harvester That Thrives in Market Chaos“We are reestablishing our reputation as a firm run by technologists and traders,” Simons said, adding that attrition has declined to multiyear lows.

Quarterly profitability and segment performance Chief Financial Officer Cindy Lee said Virtu generated adjusted net trading income, or ANTI, of $11.6 million per day during the second quarter, with a quarterly total of $718 million. Market Making contributed $9.4 million of ANTI per day, while Execution Services generated $2.2 million per day.

The company reported adjusted EBITDA of $437 million, representing a 61% margin, and adjusted earnings per share of $1.82. Over the past 12 months, Virtu recorded ANTI per day of $10.4 million, adjusted EBITDA of $1.7 billion and adjusted EPS of $6.96, all of which Lee described as company records on a trailing 12-month basis.

Management said both operating segments benefited from market conditions and execution by Virtu’s teams. Co-President and Co-Chief Operating Officer Joseph Molluso cited continued growth in crypto, options and block exchange-traded fund markets. He also identified global equities, retail and proprietary trading activity as standouts during the quarter.

Molluso said the Execution Services business, or VES, has generated more than $2 million in daily ANTI for three consecutive quarters. He described the consistency of that performance as a meaningful contributor to results.

Capital build supported by debt issuance and retained earnings Virtu’s total trading capital reached $3.4 billion, up from $2 billion a year earlier, Simons said. The increase followed 12 months of retained earnings and an opportunistic increase in the company’s term loan.

Lee said invested capital stood at $2.9 billion as of June 30 and produced an average return of 106% over the past year. In early July, the company increased its term loan by $500 million. Its trailing debt-to-EBITDA ratio was 1.5 times, which Lee characterized as modest leverage.

Molluso said the debt financing was completed because market conditions provided an attractive opportunity, rather than because the company needed to raise funds immediately. He said the offering was oversubscribed and was executed at what management viewed as an attractive price and tight spread levels.

“You raise money when you can, not when you have to,” Molluso said of conditions in the debt and leveraged-loan markets.

Management said the additional capital is already deployed and that it had previously used some short-term liquidity to capture market opportunities. Molluso said Virtu considers its current debt level sustainable in the near to medium term, and expects further capital accumulation to come primarily through free cash flow generation. The company said it intends to maintain its quarterly dividend of $0.24 per share.

Hiring investment and compensation Virtu said it is continuing to hire aggressively in areas including quantitative research, trading, engineering and software development. Simons said the company does not have a specific headcount target and expects to continue hiring at a strong pace for at least the next several years.

He said the company’s hiring efforts are part of a broader cultural shift that has been recognized by current employees and prospective candidates, contributing to lower attrition and increased interest from the talent pool.

Through June 30, Virtu’s cash compensation ratio was 23% and its total compensation ratio was 28%, according to Lee. Molluso said management’s guidance remains for a low-to-mid-20% cash compensation ratio, noting that the company has been willing to tolerate an investment period as it recruits talent.

He said the company takes a top-down approach to compensation early in the year and refines accruals as it approaches year-end. Management advised investors to focus on the year-to-date compensation ratio rather than a single quarter.

Broad-based deployment and evolving products Simons said Virtu is directing incremental capital and personnel broadly across the business rather than toward one specific asset class, product or geography. He noted that allocations can shift quickly as opportunities change because of the company’s relatively flat structure and ability to move capital opportunistically.

On the potential development of regulated perpetual futures in the United States, Simons said Virtu does not seek to predict where trading volumes will ultimately settle. He said new trading methods and market fragmentation have historically contributed to higher volumes, at least in the short term.

Molluso said Virtu does not view perpetual futures as an entirely new asset class, but rather as an evolution of existing asset classes. He said Virtu Execution Services is not currently seeing significant institutional demand for the products, while Virtu itself does not have direct retail customers. Still, management said it intends to provide pricing, liquidity and trading services as products become liquid and tradable.

About Virtu Financial (NYSE:VIRT)Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its vehicle delivery results for July 2026.

XPENG delivered 38,027 vehicles in July, marking an increase of 4% year over year. As of July 31, 2026, the Company's cumulative deliveries reached a new milestone of more than 1.2 million units worldwide.

On July 16, XPENG held its Brand Day and the L03 Global Launch Event in Munich, Germany. The new global model will launch in 65 countries and regions this year, expanding XPENG's international product lineup.

On the global expansion front, earlier this month XPENG officially unveiled its long-term strategy for the Australian market, including plans to launch five all-new models in the second half of 2026 and continue expanding its local sales and service network. XPENG also announced that its NGP (Next Generation Pilot) system, powered by the in-house developed VLA 2.0 model, will begin its global rollout in 2027, bringing its intelligent driving technology to markets around the world.

XPENG's electric vehicles delivered from January to July 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 3.23 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 53.75 million young trees over 10 years.

About XPENG

XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contacts:

For Investor Enquiries:

IR Department
XPeng Inc.
Email: [email protected]

Jenny Cai
Piacente Financial Communications
Tel: +1 212 481 2050 / +86 10 6508 0677
Email: [email protected]

For Media Enquiries:

PR Department
XPeng Inc.
Email: [email protected]

SOURCE XPeng Inc.

Sony Is Going All-Digital—But Investors Should Watch This InsteadSouthern NYSE: SO reported second-quarter 2026 adjusted earnings of $1.13 per share, up $0.21 from the prior-year period and $0.13 above the company’s estimate, as higher electricity usage, customer growth and construction-related earnings supported results.

Chief Financial Officer David Poroch said first-half adjusted earnings totaled $2.46 per share, above the company’s year-to-date expectations. Southern now expects full-year adjusted earnings to be near or at the top of its $4.50 to $4.60 per-share guidance range and provided a third-quarter adjusted EPS estimate of $1.65.

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Large-load contracts drive growth outlook Microsoft’s Xbox Problem Is Bigger Than a Console WarChairman, President and CEO Chris Womack said economic-development activity and power demand across the Southeast remained strong, particularly from data centers and other large-load customers.

During the quarter, Alabama Power added roughly 3 gigawatts through three projects, while Georgia Power signed a 25-year, 3.2-gigawatt electric-service agreement with OpenAI for a site near Savannah, Georgia. The OpenAI project is expected to begin taking service in phases beginning in 2028 and includes 1 gigawatt of flexible demand response.

How the Memory Shortage Is Crushing the Gaming IndustryWomack said the four projects together represent 6 gigawatts of newly contracted load. Including prior agreements, Southern’s electric subsidiaries now have more than 17 gigawatts of contracts and large-load agreements expected by the mid-2030s.

The company’s prospective pipeline of large industrial and data-center projects remains above 75 gigawatts. Beyond the 17 gigawatts already contracted, Southern identified another 8 gigawatts of projects in late stages, including 3 gigawatts it expects could be finalized in the near term. Poroch said several of those prospective projects are likely to start ramping in 2028 and continue into the next decade.

Southern’s systemwide data-center load exceeded 1.2 gigawatts during the quarter, an increase of more than 500 megawatts from a year earlier. Data-center usage rose 55% from the second quarter of 2025 and was up 49% year to date, according to Poroch.

Retail sales and customer additions increase Weather-normalized retail electricity sales increased 2.3% in the first half from the same period last year, which Poroch said was the company’s strongest sales growth through June in nearly two decades. Sales increased across residential, commercial and industrial customer classes.

Southern added approximately 11,000 residential electric customers during the second quarter, bringing net electric customer additions to more than 40,000 over the past year. Weather-normalized commercial sales rose 7.4% in the second quarter and were 6% higher year to date.

The company cited manufacturing and reshoring activity in Alabama, including primary metals, stone, clay, glass and pipeline-related segments, as contributors to industrial demand. Announcements in Southern’s electric territories during the quarter represented nearly $14 billion in investment and more than 3,000 jobs, led by data-center facilities in Alabama and an Amazon warehouse in Georgia, Poroch said.

Generation needs could create investment opportunities Southern said it has received approvals in recent years for 10 gigawatts of company-owned generation resources, including thermal, battery and solar assets, as well as hundreds of miles of transmission lines. Two battery sites are in service, while work continues on three combustion turbines at Plant Gaston.

Requests for proposals are underway at Alabama Power and Georgia Power for additional generation resources needed in the early 2030s. Poroch said any company-owned projects selected through the processes and approved by state public service commissions would represent incremental investment beyond Southern’s current capital plan.

Poroch said a rough rule of thumb for new generation capacity could be “about $2 billion or so” per gigawatt, covering a range of generation resources. He said spending related to potential projects could begin to enter the company’s projections around 2028, with assets potentially coming online in 2031 or 2032.

Southern also sees potential to expand investments in FERC-regulated pipeline infrastructure as electricity demand and potential gas-generation needs rise across the Southeast.

Rate protections and financing plans Womack said Southern’s large-load agreements include minimum bills designed to recover at least 100% of the incremental cost to serve customers, along with termination-payment provisions and collateral requirements. He said the structure is intended to protect existing customers and investors while supporting rate stability.

Retail base rates at Southern’s two largest subsidiaries, Georgia Power and Alabama Power, are set to remain stable until 2029, according to the company. Womack said the OpenAI project’s demand-response capability can help reduce peak demand and benefit the broader system.

On financing, Poroch said Southern sourced an additional $700 million of equity through its at-the-market program during the second quarter, using forward contracts that can settle through 2028. The company said its projected remaining equity need through 2030 has declined to $1.1 billion and reiterated its goal of reaching roughly 17% funds from operations to debt by 2029.

Southern Power is also discussing opportunities to recontract assets as existing tolling arrangements expire. Womack said potential new agreements would involve energy and capacity under long-term power-purchase agreements rather than typical tolling structures.

About Southern (NYSE:SO)Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

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3 transportation stocks gearing up for a new rallyTrinity Industries NYSE: TRN reported second-quarter earnings per share from continuing operations of $1.25, supported by a $132 million pre-tax, non-cash gain related to its Napier Park railcar partnership transaction. The company said its leasing business maintained high utilization and improved pricing indicators, while its Rail Products segment faced production and manufacturing-footprint disruptions that pressured margins.

Chief Executive Officer and President Jean Savage said the company’s results reflected “the successful completion of our Napier Park partnership transaction alongside execution headwinds in Rail Products that are specific and transitional.” Trinity maintained its full-year EPS outlook of $2.20 to $2.40 and its expectation for Rail Products segment margins of 5% to 6%, though it now expects results at the lower end of that range.

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Napier Park Transaction Reshapes Leasing Financials Markets Are Loving These Stocks 'Firing On All Cylinders'In the second quarter, Trinity contributed its remaining membership interest in the Tribute partially owned fleet in exchange for an 11.2% limited partnership interest in Napier Park SPE Holdings. The Tribute fleet is now managed by Trinity, while the company no longer has a direct ownership interest in TRIP Holdings.

Executive Vice President and Chief Financial Officer Eric Marchetto said the transaction generated the $132 million non-cash pre-tax gain because the fleet’s book value was below its market value. The deal also simplified Trinity’s financial statements, including the deconsolidation of assets and debt associated with TRIP Holdings.

3 Reasons Oshkosh Stock is Headed to New HeightsQuarterly revenue was $485 million, down slightly from both the prior quarter and a year earlier, primarily because partially owned leasing subsidiaries were deconsolidated as their railcars shifted to Trinity’s managed fleet. Trinity also recorded an $8 million gain from $31 million in lease portfolio sales during the quarter.

Trinity’s wholly owned railcar fleet totaled 96,280 railcars as of June 30, while its investor-owned managed fleet totaled 50,650 railcars. Marchetto said the Napier Park investment will be accounted for under the equity method and reported in other assets and other income rather than through Trinity’s segment results.

Leasing Metrics Improve Despite Smaller Consolidated Fleet The Leasing and Services segment’s fleet utilization was 97.3% in the second quarter. Renewal success rates rose to 75% from 60% in the first quarter, while the future lease rate differential increased to positive 3.5% from positive 1.2%.

Savage said the future lease rate differential has been positive for 20 consecutive quarters and should support continued lease-rate growth as renewals are completed. She cited high utilization, increased renewal rates, inflation and rising material costs as factors supporting additional pricing.

Leasing segment operating margin was 79.8%, including the Napier Park gain. Excluding that gain, Leasing and Services margin was 33%, reflecting higher maintenance and depreciation expense, the effects of a smaller consolidated fleet and disposal charges tied to the exit of certain logistics solutions locations.

Trinity reported $1 billion in liquidity and approximately $900 million in unencumbered fleet value. During the quarter, it amended and extended its $600 million corporate revolver and refinanced certain secured railcar equipment notes. The company said the financing raised the loan-to-value ratio on its wholly owned lease fleet to 70.8%, slightly above its targeted range, reflecting higher fleet market values associated with improved lease rates.

Rail Products Margin Pressured by Production Disruptions Rail Products received orders for 1,560 railcars and delivered 1,570 railcars in the quarter, ending the period with a $1.6 billion backlog and a book-to-bill ratio just below one. Trinity said it holds just under half of the industry backlog.

The segment’s operating margin was 1.3%, as an unplanned production interruption at Trinity’s Longview manufacturing facility and temporary expenses related to realigning its Mexico manufacturing footprint reduced margin by roughly 270 basis points. Excluding those items, underlying margin was in the 4% range, according to Savage.

Savage said the Longview disruption followed the tragic loss of an employee. She said Trinity has reinforced safety programs and is reviewing opportunities to strengthen its processes, while declining to discuss specifics of the incident.

The company also experienced delayed deliveries due to the disruptions, but Savage said those deliveries were not lost and are expected to move into later periods. Trinity expects higher Rail Products deliveries in the second half than in the first half, providing operating leverage and supporting its full-year margin outlook. The company does not expect large quarter-to-quarter margin swings in the second half.

Trinity continues to consolidate and automate Longview operations, transitioning from two facilities to one. The company expects the project to be completed in early 2027.

Outlook Includes Higher Industry Deliveries in 2027 Management continues to expect approximately 25,000 industry railcar deliveries in 2026, which Marchetto said remains below replacement levels. Trinity lowered its expected net lease fleet investment range slightly to $300 million to $400 million and continues to project $160 million to $180 million in gains. The company had booked $162 million in gains year to date, implying limited secondary-market sales during the second half.

For 2027, Marchetto said Trinity currently anticipates industry deliveries could increase to about 35,000 units, though additional order activity will be needed to support that level. He said rail traffic, manufacturing indicators and low railcar storage levels support management’s view that market momentum is improving.

Trinity also announced that it acquired a 32% interest in Touax Texmaco Railcar Leasing Private Limited, a joint venture with Touax Group and Texmaco Rail & Engineering Limited focused on India. The company does not expect a material profit-and-loss contribution from the venture in 2026 as it continues building its fleet.

On tariffs, Savage said Trinity has filed a formal ruling request with U.S. Customs and Border Protection asserting a Section 232 exemption for its North American-made tank cars. She said the company’s contracts generally include escalation provisions that would allow tariff-related costs to be passed through to customers if applicable.

About Trinity Industries (NYSE:TRN)Trinity Industries, Inc is a diversified industrial company headquartered in Dallas, Texas, with roots dating back to its incorporation in 1933. The company principally serves the transportation, infrastructure and energy sectors through the design, manufacture and leasing of railcars and related components. Trinity operates multiple business segments that encompass railcar manufacturing, aftermarket parts production, railcar leasing and management, inland barge construction and leasing, as well as infrastructure products for highways and energy applications.

In its railcar segment, Trinity produces a broad portfolio of freight cars—including tank cars, covered hoppers, gondolas and autoracks—alongside critical system components such as braking systems, couplers and wheels.

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

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Amazon (AMZN +15.32%) reported its second-quarter results on Thursday afternoon, and the release carried a figure that can scare investors off: Free cash flow for the trailing 12 months came in at an outflow of $7.6 billion. A year earlier, that figure was an inflow of $18.2 billion.

The market barely blinked. Shares of the e-commerce and cloud computing giant closed up about 15% Friday, at around $271 -- near the top of their 52-week range.

So investors watched a company report negative free cash flow and bid the stock up double digits. I don't think they're wrong.

The same cash flow statement that shows the burn also shows that the operations funding it have rarely looked stronger. And the segment the money is flowing into is accelerating.

Image source: The Motley Fool.

Where the cash went The burn isn't coming from the business. Amazon's operating cash flow rose 33% year over year to $161.4 billion for the trailing 12 months.

What changed is the spending. Purchases of property and equipment, net of proceeds, totaled $169 billion over the same period, up 64% year over year. In the second quarter alone, capital spending reached $54.2 billion, compared with $32.2 billion in the year-ago quarter.

The company said in its earnings release that the increase mostly reflects its investments in artificial intelligence (AI).

And the plan is getting bigger. CEO Andy Jassy said on the earnings call that the company now expects about $220 billion of capital spending in 2026, up from the roughly $200 billion it projected earlier in the year, pointing to rising memory costs.

And the trend has been building for a while. Amazon's trailing-12-month free cash flow has now declined for six straight quarters, stepping down from a peak above $38 billion in late 2024 to this week's negative figure. Operating cash flow grew year over year in every one of those quarters. In other words, the business kept producing more cash, and the build-out simply grew faster.

Importantly, the spending isn't happening at a struggling company. Net sales rose 20% year over year to $200.6 billion in the second quarter, up from 13% growth in the year-ago period. The growth was broad, too. North America sales rose 16%, international sales rose 15%, and Amazon Web Services (AWS) revenue jumped 37%.

What the spending is building AWS is where the payoff shows up most visibly. The cloud computing segment's 37% year-over-year growth, to $42.2 billion, was its fastest in 18 quarters and its fifth straight quarter of acceleration, up from 17% growth in the year-ago period.

Jassy said in the release that "AWS is booming," noting that the company's AI and chips businesses "each eclipsed run rates of more than $25 billion."

The growth is getting more profitable, too. AWS operating income rose about 64% year over year to $16.6 billion, and the segment's operating margin expanded to 39.4% from 32.9% a year ago. AWS produced about 21% of Amazon's net sales in the quarter but roughly 60% of its $27.5 billion in total operating income, which itself grew 43%. That mix is why I think the market was willing to look straight past the cash flow line.

However, investors shouldn't read too much into Amazon's reported net income of $62.6 billion, or $5.75 per share. That figure includes $53.4 billion of non-operating income, primarily from the company's investments in AI company Anthropic.

It's a markup on an investment, not cash from selling things. The profit engine to watch is operating income.

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At about $271, the stock trades at about 27 times forward earnings estimates. For a company growing revenue 20% year over year with operating income up 43%, that's arguably a reasonable price -- not cheap, but far from egregious.

Sure, guidance implies slower growth in the third quarter, with net sales of $197 billion to $202 billion, up 9% to 12% year over year. But the company said the timing of Prime Day shaved nearly 4 percentage points off that comparison. And its operating income guidance of $22.5 billion to $26.5 billion compares with $17.4 billion a year earlier.

Ultimately, the market is paying for AWS, and AWS keeps earning it. I like the stock, even after a double-digit pop.

Of course, the math can turn. If AWS's acceleration stalls while capital spending keeps climbing, the negative free cash flow could start to matter a lot more, and I'd rethink my position. The spending may also stay elevated longer than investors expect. But those are risks to watch, not reasons to sell.

REITs Set for a 2026 Rebound? 7 Top Picks as Rate Cuts ApproachPublic Storage NYSE: PSA said its second-quarter operating trends improved and raised its 2026 guidance, while highlighting the completed acquisition of National Storage Affiliates and a planned entry into Canada through the acquisition of Public Storage Canada.

Core funds from operations totaled $4.17 per share in the second quarter, down from a year earlier and sequentially, which President and CFO Joe Fisher attributed to higher financing costs and general and administrative expenses. Same-store revenue declined 0.6% year over year and same-store net operating income fell 2.2%, though both measures exceeded the company’s internal expectations.

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These 3 Defensive Stocks Could Help Portfolios Weather a 2026 DownturnThe company reported improving forward-looking operating indicators. Average move-in rents increased 1.6%, marking the first time since 2021 that both move-in rates and occupancy rose year over year, Fisher said. Occupancy was 92.5%, up 20 basis points from the prior year, while move-in rates rose 18% from the fourth quarter of 2025.

Guidance Raised as Operating Trends Improve Public Storage raised its full-year outlook across key metrics. The company now expects same-store revenue growth at a midpoint of negative 0.2% and same-store NOI growth at a midpoint of negative 1.1%, representing improvements of 90 basis points and 110 basis points, respectively, from its previous guidance.

What are specialty REITs? How to invest in themThe revised outlook assumes positive low-double-digit new move-in rate growth, compared with a prior expectation for mid-single-digit declines, and occupancy growth of 30 basis points year over year, versus a previous assumption of flat occupancy.

Core FFO guidance was increased to a range of $16.75 to $17.05 per share, with a midpoint of $16.90, a $0.22-per-share increase from the prior forecast. Fisher said the increase reflects stronger same-store trends, lower-than-expected interest expense, and contributions from non-same-store properties and ancillary businesses, partly offset by higher G&A expenses.

Public Storage expects same-store revenue growth to improve in the second half of the year and turn positive in the fourth quarter. Fisher said the company’s performance in Los Angeles, where pricing restrictions have expired, will contribute to that improvement but will not be the sole driver. Stronger coastal and Midwestern markets, along with improving Sun Belt conditions, are also expected to help.

CEO Tom Boyle said June move-in rents were up 4% year over year, aided by a more consistent year-over-year promotional strategy, and July trends remained positive. July occupancy was up about 30 basis points year over year, according to Boyle.

NSA Integration Begins Public Storage closed its acquisition of National Storage Affiliates on July 22 and transitioned the acquired portfolio of approximately 1,100 stores and 575,000 units to Public Storage systems overnight, Boyle said. The company also welcomed more than 1,300 former NSA employees.

On the first day after closing, Public Storage completed more than 1,500 reservations, transitioned 265,000 autopay accounts, began rent collections and started temporary rebranding efforts, according to Boyle.

Management said the integration has identified additional expansion opportunities. Boyle said the company found approximately 14,000 units that could be restored to inventory through repair-and-maintenance spending, creating incremental availability in the second half of 2026. The company has also identified opportunities to expand some existing NSA properties.

Public Storage maintained its expectation that NSA and the planned Canadian transaction would be neutral to Core FFO in 2026 before financing effects. Fisher said the company now expects approximately $0.02 per share of positive Core FFO impact this year from financing benefits associated with the two transactions. The benefit is primarily tied to the ability to finance part of the NSA acquisition using lower-cost Canadian borrowing after the Canadian deal closes.

NSA generated year-to-date NOI growth of 2.4%, driven by occupancy improvement and expense controls, Fisher said. Its year-to-date Core FFO was $1.14 per share, which Public Storage said was ahead of consensus expectations.

Canadian Acquisition and Capital Deployment Public Storage expects to close its $1.2 billion acquisition of Public Storage Canada in the third quarter. The Canadian portfolio is the country’s third largest and is concentrated in Toronto and Vancouver, with properties in infill locations. Boyle said the Canadian self-storage market has per-capita supply of about 2.5, below U.S. levels.

The transaction is expected to be funded with about $900 million in operating partnership units and roughly $300 million in Canadian debt. The seller also may receive additional OP units through earn-out provisions tied to future NOI performance.

Fisher said the portfolio has 83% occupancy and 65% NOI margins, presenting potential upside through the company’s PS Next operating platform. The Canadian OP-unit issuance will allow Public Storage to finance an equivalent portion of the NSA acquisition at Canadian rates more than 100 basis points below the U.S. financing levels used in the original underwriting, he said.

Elsewhere, the company said it had acquired or placed under contract more than $450 million of properties year to date, with about 70% of that activity conducted off market. Management said it has increasingly targeted recently developed lease-up properties, which can be dilutive to near-term FFO but may offer higher stabilized returns.

Development pipeline: $692 million across 47 projects, with targeted stabilized yields of 8%. Remaining development funding: $432 million. Lending platform: $173 million outstanding, up $30 million from the prior quarter, at a current rate of about 7.6%. Third-party management: 22 net new properties added during the quarter, bringing the total to more than 460 properties. Balance Sheet and Customer Initiatives Public Storage reported approximately $12 billion in capital-markets activity completed or committed year to date. During and after the quarter, it announced $5.9 billion of debt-related activity, including $1.4 billion of unsecured issuance, an expanded and extended $3 billion revolving credit facility, a new $1 billion commercial paper program and a $500 million delayed-draw term loan.

The $1.4 billion of unsecured debt carried a weighted average effective rate below 5%, Fisher said. The company also entered forward-sale agreements for nearly 800,000 shares under its at-the-market program, expected to produce nearly $260 million in future net proceeds.

At quarter-end, Public Storage had $3.8 billion of available liquidity between cash and its revolving credit facility, plus about $600 million in annual free cash flow. Net debt to EBITDA stood at 2.9 times.

Boyle said customer-focused initiatives are contributing to lower churn and improved sentiment. The company now receives roughly 90,000 customer surveys a month, compared with 2,000 to 3,000 previously. It also continues to expand digital tools: nearly 90% of customers interact with Public Storage digitally during their rental journey, while three-quarters complete their leases entirely online. Its AI-powered customer service agent, Ellie, has handled more than 90,000 customer interactions in recent months, Boyle said.

About Public Storage (NYSE:PSA)Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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

Should You Invest $1,000 in Public Storage Right Now?Before you consider Public Storage, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Storage wasn't on the list.

While Public Storage currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

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In the latest trading session, Griffon (GFF - Free Report) closed at $86.17, marking a -1.97% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.7% for the day. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 1%.

The stock of garage door and building products maker has fallen by 5.34% in the past month, lagging the Conglomerates sector's gain of 5.9% and the S&P 500's loss of 0.49%.

Investors will be eagerly watching for the performance of Griffon in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2026. The company is predicted to post an EPS of $1.33, indicating a 11.33% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $453.9 million, showing a 26.03% drop compared to the year-ago quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.17 per share and revenue of $1.81 billion. These totals would mark changes of -8.5% and -28.24%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Griffon. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Griffon is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Griffon is presently being traded at a Forward P/E ratio of 17.01. Its industry sports an average Forward P/E of 13.43, so one might conclude that Griffon is trading at a premium comparatively.

The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Transaction establishes a banking foundation for Freedom's integrated financial and digital ecosystem in Türkiye

ISTANBUL, TR / ACCESS Newswire / July 31, 2026 / Freedom Holding Corp. (NASDAQ:FRHC), an international diversified financial services group operating in more than 20 countries, today announced that, through its subsidiary Freedom Finansal Hizmetler A.Ş., it has completed the acquisition of 99.32% of the share capital of Turkish Bank A.Ş.

Following completion of the transaction, the financial institution changed its corporate name to Freedom Bank A.Ş. The relevant resolution has been submitted to the Turkish Trade Registry for registration.

The closing follows the receipt of the required approvals from Türkiye's Banking Regulation and Supervision Agency and the Turkish competition authority. It marks Freedom Holding Corp.'s formal entry into the Turkish banking sector and represents an important step in the Group's strategy to build an integrated financial and digital services platform in Türkiye.

Under the transaction, Freedom acquired the 99.32% interest in the Bank previously held by entities affiliated with Özyol Holding A.Ş. and National Bank of Kuwait.

Immediately following the transfer of the shares, a general meeting of shareholders was held, at which a new board of directors was elected.

The Board of Directors of Freedom Bank A.Ş. includes H. Cenk Eynehan, Furkan Evranos, Ayşe Hale Yıldırım and Timur Turlov, founder and Chief Executive Officer of Freedom Holding Corp.

The acquisition, together with the development of Freedom's brokerage and capital markets operations in Türkiye, provides the foundation for the Group to offer a broader range of services to retail, affluent and high-net-worth clients, as well as small and medium-sized businesses and corporate clients.

Freedom plans to develop a comprehensive ecosystem of financial and everyday services in Türkiye, with the Bank at its center.

"In Kazakhstan, we have built an ecosystem in which financial and everyday services operate through a single SuperApp that has become the country's fastest-growing digital service," said Timur Turlov, founder and Chief Executive Officer of Freedom Holding Corp. "We are now bringing this model to Türkiye, where clients already have high expectations of their banks, setting a high standard for us. Our task over the coming years is to strengthen the Bank's capital base and technological capabilities so that an ecosystem can develop rapidly around it."

In Kazakhstan, Freedom's ecosystem brings together banking, brokerage, insurance, payments and investment services, as well as a growing range of lifestyle products, including e-commerce, travel, ticketing and entertainment services. Freedom's ecosystem serves more than 14 million customers across banking, brokerage, insurance, lifestyle and other businesses as of March 2026.

The Group intends to apply the experience gained through the development of this platform to Türkiye while adapting its products, technology and client experience to the needs and expectations of the local market. Freedom plans to implement a modernization and growth program focused on strengthening the Bank's capital position, upgrading its technology infrastructure, expanding digital client channels, developing new products and improving operational efficiency.

The acquisition of the Bank complements Freedom's expansion in Türkiye's capital markets sector. Freedom Yatırım Menkul Değerler A.Ş. was established following the receipt of an establishment license from the Capital Markets Board of Türkiye and is being developed as the Group's local brokerage platform. The Bank and Freedom's brokerage and capital markets operations are expected to form the core of a broader platform serving individuals, entrepreneurs and businesses through a combination of financial products, technology and everyday digital services.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in Russell 3000® Index.

Freedom Finansal Hizmetler A.Ş., a wholly owned subsidiary of Freedom Holding Corp., was established in 2022 to support the Group's expansion in Türkiye's financial services sector. The company focuses on financial consulting and investments across banking, insurance, capital markets, payment systems and other financial services, including supporting the capitalization and development of portfolio companies.

In 2025, the Capital Markets Board of Türkiye granted the company an establishment license. Freedom Yatırım Menkul Değerler A.Ş. was subsequently established and is working toward obtaining an operating brokerage license upon meeting the regulator's requirements

Turkish Bank A.Ş. is a commercial bank operating in Türkiye and a member of TurkishBank Group. The bank provides a range of financial services, including corporate, commercial and retail banking solutions.

TurkishBank Group, established in 1901, is a privately owned financial services group operating across Türkiye, the Turkish Republic of Northern Cyprus and the United Kingdom. The Group provides banking, financial and wealth management solutions through an international network.

Contact Information:

Natalia Kharlashina
Head of Public Relations
[email protected]
+77013641454

SOURCE: Freedom Holding Corp.

Chevron (CVX +2.35%) is an integrated energy company. That's important for investors to remember, since it not only produces oil and natural gas, but it also transports the vital fuels and processes them. The power of the integrated business model was on full display in July, when Chevron reached an accord with Iraq on major energy investments in the country. Here's why it could change both Chevron and the energy sector as a whole.

What does Chevron do? Chevron is one of the world's largest energy companies. It has a globally diversified portfolio of energy assets, ranging from the upstream (production) all the way to downstream (chemicals and refining). One big benefit of this model is that Chevron can invest its capital where it believes it will produce the most economic benefit. That's not just a statement about production; it also involves investments in the midstream (pipeline) and downstream segments of its business.

Image source: Getty Images.

On the production front, Chevron reached an accord with Iraq in July about making investments in two of the country's oil fields. That's a big deal because it supports Chevron's production. Since oil is a depleting asset, the company is always on the lookout for new production to replace older fields where production is declining.

That alone isn't enough to reshape Chevron's business or change much about the broader energy industry. The big piece is that the accord highlights the importance of Chevron joining a consortium to build a pipeline that will allow Iraq's oil to bypass the Strait of Hormuz. The pipeline would run through Syria, reaching all the way to the Mediterranean coast.

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This could be the game changer, given that the big problem arising from the geopolitical conflict in the Middle East is the effective closure of the Strait of Hormuz. If energy companies find a way around that problem, energy security will improve materially. It will also make investing in the Middle East's energy industry far more attractive for companies like Chevron. Simply put, the investments Chevron is discussing making in Iraq will work out better if the pipeline is built. And that could lead to even more investment in the future.

It takes time to develop big energy projects There's a caveat here. Chevron's accord isn't a binding agreement. It still has to ink a final investment deal. And even then, it takes time to get energy fields up and running, and to build massive oil pipelines. This isn't a decision that moves the needle right now. But it could help to reshape Chevron and the entire oil industry over the next decade. For investors who think long term, you'll want to pay close attention to Chevron's moves in Iraq today.

Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.

In the latest close session, Unity Software Inc. (U - Free Report) was down 4.89% at $31.71. This change lagged the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 1%.

Shares of the company witnessed a gain of 13.71% over the previous month, beating the performance of the Computer and Technology sector with its loss of 6.59%, and the S&P 500's loss of 0.49%.

The upcoming earnings release of Unity Software Inc. will be of great interest to investors. The company's earnings report is expected on August 6, 2026. In that report, analysts expect Unity Software Inc. to post earnings of $0.24 per share. This would mark year-over-year growth of 192.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.84 million, up 16.08% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.04 per share and a revenue of $2.12 billion, indicating changes of +20.93% and +14.5%, respectively, from the former year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Unity Software Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.31% higher. Unity Software Inc. presently features a Zacks Rank of #1 (Strong Buy).

In the context of valuation, Unity Software Inc. is at present trading with a Forward P/E ratio of 32.06. This expresses a premium compared to the average Forward P/E of 20.16 of its industry.

Also, we should mention that U has a PEG ratio of 1.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Internet - Software stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

3 Refiners Benefiting From Oil Volatility and Tight Fuel SupplyPBF Energy NYSE: PBF reported second-quarter adjusted net income of $6.22 per share and adjusted EBITDA of $1.24 billion, as management pointed to strong refined-product markets, low inventories and global supply disruptions as key drivers of the quarter.

Chief Executive Officer Matt Lucey said disruptions tied to conflicts in the Middle East and Eastern Europe have reshaped crude and product markets. He said that, initially, roughly 15 million barrels per day of crude and 5 million barrels per day of refined products were effectively trapped inside the strait, although crude markets have shown flexibility through alternative routing, strategic-reserve supply and lower refining utilization in some regions.

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As Energy Surges on Crack Spreads, Consider Taking Gains on 2 Small Cap Oil StocksLucey said the company expects product markets to take longer than crude markets to normalize. He cited global product inventory drawdowns, reduced refining utilization outside the United States and more than 5 million barrels per day of refining capacity that is offline or operating at reduced rates. Some of that capacity has sustained physical damage, he said.

Market Outlook and Refining Position Management said PBF’s refining footprint is positioned to benefit from its crude-slate flexibility and access to stable supply in the Americas. Lucey said the company has not experienced, and does not expect to experience, crude availability issues that would affect its operations.

Leading Oil Refiner's Stock Climbs Despite Market Volatility“Product inventories will be slow to rebuild,” Lucey said, adding that the eventual restocking of inventories should support refining margins in coming quarters.

During the question-and-answer session, Lucey said the floor for refining margins has “unquestionably” risen in the current cycle, though he did not quantify a long-term margin outlook. Non-Executive Chairman Tom Nimbley said crude normalization could occur over “weeks to months,” while product-market normalization could take “months to quarters.”

Paul Davis, senior vice president of supply, trading and optimization, said backwardated crude and product markets have encouraged hand-to-mouth inventory management. He said PBF is participating in Gulf Coast dock demand and East Coast export demand, while its commercial team is focused on keeping refineries supplied and moving products out daily.

Operations, Turnarounds and Cost Initiatives Senior Vice President and Head of Refining Mike Bukowski said all PBF refineries are currently operating well. The company restarted fire-affected units at its Martinez refinery in May and has been producing its full product slate there since then.

PBF plans to begin a hydrocracker turnaround at Martinez in the third quarter, with completion expected in October. The company also reached an agreement in July to repurchase two hydrogen plants that serve its Torrance refinery from Air Products. Bukowski said owning the facilities should improve Torrance reliability by allowing PBF to coordinate operations, maintenance and turnarounds across the refinery. The transaction is expected to close in the third quarter, subject to regulatory review and customary closing conditions.

At Chalmette, a May loss-of-containment event took a pretreater and reformer offline until repairs are completed later in the third quarter. Bukowski said the event did not materially reduce refinery throughput, though it increased naphtha production and slightly lowered finished gasoline yield. PBF moved its planned fourth-quarter Chalmette crude-unit and coker turnaround to 2027.

At Toledo, unplanned second-quarter work on the fluid catalytic cracker reduced throughput. However, the company used the outage to complete maintenance that allowed it to shift a planned fourth-quarter FCC turnaround to the first half of 2027. PBF expects East Coast assets to run uninterrupted until a Paulsboro crude-unit turnaround begins late in the fall.

The company’s Refining Business Improvement initiative included a circuit-wide energy-efficiency effort that reduced purchased natural gas per barrel, on a price-adjusted basis, by 20% from its 2024 baseline, according to Bukowski. PBF also said its procurement organization is midway through renegotiating or rebidding more than 60 contracts and expects roughly $60 million in annual savings on items including process chemicals, maintenance and equipment rentals.

Cash Flow, Debt Reduction and Capital Spending Chief Financial Officer Joe Marino said PBF generated $1.6 billion of cash from operations during the quarter, including an approximately $430 million working-capital benefit. The benefit reflected lower inventory levels from the first quarter and the company’s net payable position in a higher-price environment.

PBF ended the quarter with $894 million in cash and about $855 million in net debt, with net debt to capitalization at 15%. The company reduced net debt by more than 62% during the quarter, including by repaying borrowings under its asset-backed lending facility and refinancing $802 million of 2028 senior notes. It issued $500 million of senior notes due 2034 as part of that effort.

Lucey said he expects PBF to end July with approximately $1.5 billion in cash. While management said shareholder returns remain part of its capital-allocation framework, Lucey emphasized that the company remains focused on strengthening its balance sheet and improving the competitiveness of its refining assets.

Second-quarter consolidated capital expenditures totaled $189 million, excluding approximately $56 million related to the Martinez rebuild. PBF lowered its 2026 capital-expenditure guidance by about $75 million to $850 million at the midpoint, largely because turnarounds at Toledo and Chalmette were moved into 2027.

Martinez Insurance Recoveries and Renewable Diesel PBF recorded a $250 million gain on insurance recoveries related to the Martinez fire during the second quarter. Marino said the payment brought total recoveries to $1.25 billion, net of deductibles and retention, including amounts received in 2025. He said most spending associated with the rebuild is complete, though cleanup and demobilization work remains.

The insurance claim remains ongoing, and PBF expects additional funds as it works toward finalizing the claim in the second half of 2026. Lucey said he expects one more payment that could be similar in size to the most recent payment.

The company also reported $27.5 million of net income from its investment in SBR, or approximately $40 million of EBITDA. SBR produced an average of 15,100 barrels per day of renewable diesel during the quarter. Marino said production reflected reduced rates associated with an April catalyst change, but management has seen improved performance since installation and expects a longer runtime.

About PBF Energy (NYSE:PBF)PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.

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

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Requests would result in lower natural gas prices Nov. 1, 2026, and higher electric prices effective Oct. 1, 2026 July 31, 2026 19:05 ET  | Source: Avista Corporation

SPOKANE, Wash., July 31, 2026 (GLOBE NEWSWIRE) -- Avista (NYSE: AVA) has made annual filings with the Idaho Public Utilities Commission (IPUC or Commission) that have no impact on Avista’s earnings. These filings seek to true-up the level of costs in customer rates with the actual level incurred by the Company.

Natural Gas Adjustment Filings
The Company filed three annual natural gas requests that, if approved, would update natural gas rates starting November 1, 2026 as shown below:

Purchased Gas Cost Adjustment (PGA): a decrease of approximately $2.5 million or 3.0%Fixed Cost Adjustment (FCA): an increase of approximately $2.4 million or 2.8%Natural Gas Energy Efficiency Adjustment: a decrease of approximately $1.4 million or 1.6%
Electric Adjustment Filings
The Company filed three annual electric requests that, if approved, would update electric rates starting November 1, 2026 as shown below:

Power Cost Adjustment (PCA): an increase of approximately $14.6 million or 4.2%Fixed Cost Adjustment (FCA): an increase of approximately $4.0 million or 1.2%Bonneville Power Administration Residential Exchange (ResEx) Program: a decrease of approximately $0.3 million or 0.1%
Customer Bills Resulting from these Filings
If the natural gas PGA, Energy Efficiency and FCA filings are approved, residential natural gas customers in Idaho using an average of 66 therms per month would see their monthly bills decrease from $59.28 to $58.38, a decrease of $0.90 per month, or approximately 1.5%. The proposed natural gas rate change would be effective Nov. 1, 2026.

The net effect, on a revenue basis, for the requested natural gas rate change by rate schedule are as follows:

 General Service - Schedule 101-1.5%  Large General Service - Schedules 111 & 112-3.1%  Interruptible Service - Schedules 131 & 1320.0%  Transportation Service - Schedule 1460.0%  Overall-1.8%      If the electric PCA, FCA and ResEx filings are approved, residential electric customers in Idaho using an average of 939 kilowatt hours per month would see their monthly bills increase from $119.52 to $127.28, an increase of $7.76 per month, or approximately 6.5%. The proposed electric rate change would be effective Oct. 1, 2026.

The net effect, on an annual revenue basis, for the requested electric rate changes by rate schedule are as follows:

 Residential Service - Schedule 16.4%  General Service - Schedules 11 & 123.2%  Large General Service - Schedules 21 & 222.9%  Extra Large General Service - Schedule 256.6%  Extra Large General Service - Schedule 25P7.9%  Pumping Service - Schedules 31 & 322.6%  Street & Area Lights - Schedules 42-491.0%  Overall5.3%      Purchased Gas Cost Adjustment (PGA)

PGA requests are typically filed annually to balance the actual cost of wholesale natural gas purchased by Avista to serve customers with the amount presently included in customer rates. Avista does not make a profit on, or markup, the wholesale cost of natural gas. PGAs ensure customers pay what Avista pays, dollar for dollar, only at a more predictable and stable rate throughout the year. These rate adjustments are driven primarily by lower wholesale natural gas prices observed during this past winter, which were below the amounts included in rates.

Fixed Cost Adjustment (FCA)
The electric and natural gas FCA is a mechanism designed to break the link between a utility’s revenues and customers’ energy usage. Avista’s actual revenue, based on kilowatt hour or therm sales, will vary, up or down, from the level included in a general rate case and approved by the Commission. This could be caused by changes in weather, energy conservation or other factors. Under the FCA, Avista’s revenues are adjusted each month based on the number of customers. The annual difference between revenues based on sales and the number of customers is surcharged or rebated to customers beginning in the following year. The proposed FCA rate adjustments are primarily driven by variations in customer usage related to weather and savings from participating in efficiency programs. The FCA mechanisms do not apply to Avista’s Electric Extra Large General and Street Lighting Service Schedules, nor to its Natural Gas Interruptible and Transportation Service Schedules.

Natural Gas Energy Efficiency Adjustment
The Energy Efficiency Adjustment is related to the funding of Avista’s natural gas energy efficiency programs, which are designed to provide a financial incentive or rebate for cost-effective energy efficiency measures. This adjustment aligns the amount that is collected in customer rates with the actual costs to operate the programs. The rate changes proposed reflect the Company’s request to set all collection rates to $0.00 per therm of usage effective November 1, 2026, in alignment with the Company’s recent request to suspend operations of its natural gas programs at the end of 2026. This temporary pause in Avista’s natural gas energy efficiency programs is to ensure these programs continue to deliver the greatest value to customers; the Company anticipates bringing these programs back as soon as the strong cost-effectiveness standards expected from such programs are once again achievable.

Power Cost Adjustment (PCA)
The PCA is an annual rate adjustment made to reflect the difference between the actual cost of generating and purchasing electric power to serve customers and the cost currently included in customer rates. The biggest reason for this year's proposed increase is due to the expiration of a rate credit associated with the 2025 PCA, that expires October 1, 2026. That expiration, coupled with higher power costs and increased electricity use experienced this PCA year are the reasons for the rate increase.

Bonneville Power Administration Residential Exchange Adjustment
The Residential Exchange Program provides a share of the benefits of the federal Columbia River power system to the residential and small farm customers of the investor-owned utilities in the Pacific Northwest, including Avista. Avista applies the benefits it receives, which typically fluctuate from year to year, to customers as a credit in their monthly electric rates. Due to fluctuations in usage, Avista rebated to customers a level of benefits that was slightly lower than the level of benefits received from BPA. Through this filing Avista is seeking to slightly increase the level of benefits provided to qualifying customers in order to return the under-rebated balance.

Rate Application Procedure

Avista’s applications are proposals, subject to public review and a Commission decision. Copies of the applications are available for public review at the offices of both the Commission and Avista, and on the Commission’s website (puc.idaho.gov). Customers may file with the Commission written comments related to Avista’s filings. Customers may also subscribe to the Commission’s RSS feed on the Commission’s website to receive periodic updates via e-mail about the case. Copies of rate filings are also available on Avista’s website at myavista.com/rates.

If you would like to submit comments on the proposed rate change, you can do so by going to the Commission website or mailing comments to:

Idaho Public Utilities Commission
P.O. Box 83720
Boise, ID 83720-0074

About Avista Corp.
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 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.

This news release contains forward-looking statements regarding the company’s current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company’s and the Quarterly Report on Form 10-Q for the quarter ended Mar. 31, 2026, and its Annual Report on Form 10-K for the year ended Dec. 31, 2025.

Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.

SOURCE: Avista Corporation

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