Track market-moving stories before they get noisy

Primoris Services (PRIM - Free Report) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to earnings of $1.68 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +22.86%. A quarter ago, it was expected that this construction contractor would post earnings of $0.87 per share when it actually produced earnings of $0.59, delivering a surprise of -32.18%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Primoris Services, which belongs to the Zacks Building Products - Heavy Construction industry, posted revenues of $1.69 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.51%. This compares to year-ago revenues of $1.89 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Primoris Services shares have lost about 29.2% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Primoris Services?While Primoris Services has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Primoris Services was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.80 on $2.13 billion in revenues for the coming quarter and $2.20 on $7.33 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Heavy Construction is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Tutor Perini (TPC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This construction company is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of -3.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Tutor Perini's revenues are expected to be $1.56 billion, up 13.7% from the year-ago quarter.

Jacobs Solutions Inc. (J) Q3 2026 Earnings Call August 4, 2026 4:30 PM EDT

Company Participants

Bert Subin - Senior Vice President of Investor Relations
Robert Pragada - CEO & Chair of the Board
Venkatesh Nathamuni - Executive VP & CFO

Conference Call Participants

Andrew Kaplowitz - Citigroup Inc., Research Division
Sangita Jain - KeyBanc Capital Markets Inc., Research Division
Steven Fisher - UBS Investment Bank, Research Division
Jamie Cook - Truist Securities, Inc., Research Division
Andrew J. Wittmann - Robert W. Baird & Co. Incorporated, Research Division
Charles Albert Dillard - Bernstein Institutional Services LLC, Research Division
Michael Dudas - Vertical Research Partners, LLC
Andrew Azzi - Wells Fargo Securities, LLC, Research Division

Presentation

Operator

Hello everyone. Thank you for joining us, and welcome to the Jacobs Fiscal Third Quarter 2026 Earnings Conference Call and Webcast.

[Operator Instructions]

I will now hand the conference over to Bert Subin, Senior Vice President of Investor Relations. Please go ahead.

Bert Subin
Senior Vice President of Investor Relations

Thank you, operator, and welcome, everyone. Following market close, we issued our earnings announcement, filed our Form 10-Q and posted a slide presentation on our website, which we'll reference during the call. I would like to refer you to Slide 2 of the presentation for information about our forward-looking statements, non-GAAP financial measures and operating metrics.

Now let's turn to the agenda on Slide 3. Speaking on today's call will be Jacobs' Chair and CEO, Bob Pragada; and CFO, Venk Nathamuni. Bob will begin by providing comments on the business as well as highlights of our third quarter results, and a recap of notable awards. Venk will then provide a detailed review of our financial performance, including commentary on end market trends, cash flow and balance sheet data as well as our updated outlook. Finally, Bob will provide closing remarks. Then we'll open up the call for questions. With that, I'll turn it over to our

Tanger (SKT - Free Report) came out with quarterly funds from operations (FFO) of $0.64 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to FFO of $0.58 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +3.23%. A quarter ago, it was expected that this factory outlet mall operator would post FFO of $0.57 per share when it actually produced FFO of $0.59, delivering a surprise of +3.51%.

Over the last four quarters, the company has surpassed consensus FFO estimates four times.

Tanger, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $148.27 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.05%. This compares to year-ago revenues of $133.43 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Tanger shares have added about 22.1% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Tanger?While Tanger has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Tanger was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.63 on $146.93 million in revenues for the coming quarter and $2.48 on $588.48 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Retail is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Simon Property (SPG - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.

This shopping mall real estate investment trust is expected to post quarterly earnings of $3.18 per share in its upcoming report, which represents a year-over-year change of +4.3%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.

Simon Property's revenues are expected to be $1.71 billion, up 14.4% from the year-ago quarter.

Unemployment hits highest level since June 2015 Underutilisation jumps despite stronger-than-expected hiring\ Kiwi swaps retreat as rate bets unwind AUD/NZD rebounds after support holds Labour market slack builds New Zealand's unemployment rate climbed to its highest level in over a decade in the June quarter, reinforcing the view that abundant labour market slack leaves little risk of a wage breakout that could reignite domestic inflationary pressures. 

The unemployment rate climbed to 5.6% in the June quarter, the highest level since the June quarter of 2015, comfortably above the 5.4% expected by both markets and RBNZ. Broader measures softened too, with the underutilisation rate climbing to 13.8% from 12.9%. This measure includes unemployed, people wanting more hours and those on the sidelines available for work, making it a broader gauge of spare capacity in the labour market.

Source: StatsNZ, FOREX.com

Despite the increase in slack, the report masked what was a strong quarter for hiring. Employment increased 0.5%, more than double the 0.2% gain expected by markets and well above the 0.1% increase forecast by the RBNZ. Over the year, it grew by 1.2%.

The reason unemployment increased was a sharp lift in labour force participation, with the rate jumping to 70.7%, well above the 70.3% expected by both markets and the RBNZ. More people entered the workforce than the economy was able to absorb, leaving unemployment and underutilisation higher.

Wage growth wasn't a game changer either. While private sector labour cost inflation edged above the RBNZ's forecast at 2.0% year-on-year, it remains at levels inconsistent with the type of wage breakout that could fuel domestic inflationary pressures.

Markets may have overcooked the RBNZ Despite the softness of the report, it is unlikely to derail the near-term RBNZ outlook with another 25 basis point rate increase still highly likely at next month's meeting, fitting with the hawkish bias delivered in July when policymakers began the tightening cycle.

At the conclusion of that meeting, the RBNZ said "with inflation still above target and economic activity expected to strengthen, some further reduction in monetary stimulus is likely to be required to return inflation to the 2 percent target mid-point", while adding that future cash rate decisions would depend on incoming data, price-setting behaviour and the strength of economic activity.

Beyond next month's meeting, today's data does raise fresh questions over how far rates will ultimately need to move beyond neutral, estimated by the RBNZ to be around 3%.

Source: LSEG, FOREX.com

That was reflected in New Zealand's two-year swap rate, a key market gauge of expectations for the future path of the cash rate. The rate fell to 3.61% following the release, the lowest level since mid-July after briefly dipping beneath 3.60%. That's a notable reversal given it traded as high as 3.78% in late July as markets ramped up expectations for a more aggressive tightening cycle.

The move matters because two-year swap rates heavily influence the pricing of fixed-rate mortgages in New Zealand, making them one of the primary channels through which changes in RBNZ policy are transmitted to households and the broader economy.

Risk appetite calls the shots for NZD/USD

Source: TradingView

For NZD/USD, the domestic rates story is superseded by broader risk appetite as the primary directional driver, helping to explain why the Kiwi has only edged lower following the labour market report.

More importantly, the pullback has done little to threaten last week's break above resistance at 0.5860. Having bounced from around that level in each of the past two sessions, it remains the immediate level to watch on the downside. Below, the confluence of the 50 and 100-day moving averages, along with minor support at 0.5825, marks the next downside zone of note before the uptrend from the June lows comes into view.

On the topside, the pair stalled above 0.5900 on Monday, leaving that and more persistent resistance at 0.5920 as the immediate hurdles. A break above the latter would open the door for a retest of the 0.5992 double top established earlier this year.

Momentum indicators continue to favour buying dips over selling rallies. RSI (14) remains above the neutral 50 level despite losing some upside momentum in recent sessions, while MACD continues to hold above both its signal line and zero, maintaining the bullish bias established in early July.

AUD/NZD tries to turn the tide

Source: TradingView

Where relative rate expectations matter far more is in the crosses, including AUD/NZD. Combined with stronger-than-expected Australian household spending data for June released on Tuesday, New Zealand's soft labour market report has helped the pair rebound after a failed attempt to break below support at 1.1935.

Having held on this occasion, AUD/NZD is now pushing back towards 1.2000. Above there, former support at 1.2053 is the next hurdle, followed by the confluence of the 50 and 100-day moving averages and horizontal resistance at 1.2115.

Should the broader downtrend reassert itself, the recent lows beneath 1.1935 and the nearby 200-day moving average remain the immediate downside focus.

Momentum indicators have become less bearish in recent sessions. RSI (14) has turned higher from oversold territory and is pushing back towards the neutral 50 level, while MACD has started to curl back towards its signal line while remaining in negative territory. It suggests downside momentum is fading, leaving the near-term directional outlook looking far more balanced than it did only a few days ago.

SpaceX (SPCX - Free Report) reported $7.81 billion in revenue for the quarter ended June 2026, representing no change year over year. EPS of -$0.09 for the same period compares to $0 a year ago.

The reported revenue represents a surprise of +16.31% over the Zacks Consensus Estimate of $6.72 billion. With the consensus EPS estimate being -$0.26, the EPS surprise was +65.39%.

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

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

Revenues- AI: $2.56 billion versus $2.17 billion estimated by four analysts on average.Revenues- Connectivity: $4.29 billion versus $3.91 billion estimated by four analysts on average.Revenues- Space: $962 million versus the four-analyst average estimate of $875.35 million.View all Key Company Metrics for SpaceX here>>>

Shares of SpaceX have returned -28.6% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Hertz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 22, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Hertz securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On June 24, 2026, before the market opened, and just weeks after assuring investors that the Company’s liquidity would be “sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion,” Hertz announced a massive dilutive capital raise. Through its wholly owned indirect subsidiary, Hertz intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030, together with a concurrent share-lending offering of more than 37 million shares of common stock from which the Company would receive no proceeds, and simultaneously disclosed that “unexpected softness in the used car market” had caused losses on the sale of vehicles in May 2026 and would drive second-quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million.

On this news, Hertz’s stock price fell $2.06 per share, or 40.71%, to close at $3.00 per share on June 24, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Emerson Electric Co. (EMR) Q3 2026 Earnings Call August 4, 2026 4:30 PM EDT

Company Participants

Doug Ashby - Director of Investor Relations
Surendralal Karsanbhai - President, CEO & Director
Michael Baughman - Executive VP, Chief Accounting Officer & CFO
Ram Krishnan - Executive VP & COO

Conference Call Participants

Deane Dray - RBC Capital Markets, Research Division
Jeffrey Sprague - Vertical Research Partners, LLC
Scott Davis - Melius Research LLC
Andrew Obin - BofA Securities, Research Division
Alexander Virgo - Evercore ISI Institutional Equities, Research Division
Andrew Kaplowitz - Citigroup Inc., Research Division
Andrew Buscaglia - BNP Paribas, Research Division
Kenneth Newman - KeyBanc Capital Markets Inc., Research Division

Presentation

Operator

Good afternoon, and welcome to the Emerson Third Quarter and Full Year 2026 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to your host, Doug Ashby, Director of Investor Relations at Emerson. Please go ahead.

Doug Ashby
Director of Investor Relations

Good afternoon, and thank you for joining Emerson's Third Quarter 2026 Earnings Conference Call. Today, I'm joined by Emerson's President and Chief Executive Officer, Lal Karsanbhai; Chief Financial Officer, Mike Baughman; and Chief Operating Officer, Ram Krishnan.

As always, I encourage everyone to follow along with the slide presentation, which is available on our website. Please turn to Slide 2. This presentation may include forward-looking statements, which contain a degree of business risk and uncertainty. Please take time to read the safe harbor statement and note on the non-GAAP measures.

I will now pass the call over to Emerson's President and CEO, Lal Karsanbhai, for his opening remarks.

Surendralal Karsanbhai
President, CEO & Director

Thank you, Doug. Good afternoon, everyone. I'd like to begin by thanking my Emerson colleagues around the world for delivering an outstanding quarter. We have created momentum in our business built on customer

Suncor Energy (SU - Free Report) came out with quarterly earnings of $2.33 per share, beating the Zacks Consensus Estimate of $2.14 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.88%. A quarter ago, it was expected that this energy company would post earnings of $1.45 per share when it actually produced earnings of $1.41, delivering a surprise of -2.76%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Suncor Energy, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $12.67 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 22.36%. This compares to year-ago revenues of $8.6 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Suncor Energy shares have added about 48.7% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Suncor Energy?While Suncor Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Suncor Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.69 on $9.44 billion in revenues for the coming quarter and $7.11 on $41.04 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - Canadian is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Oils-Energy sector, Fluence Energy, Inc. (FLNC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -600%. The consensus EPS estimate for the quarter has been revised 40.6% higher over the last 30 days to the current level.

Fluence Energy, Inc.'s revenues are expected to be $761.85 million, up 26.4% from the year-ago quarter.

Lucid Group (LCID - Free Report) came out with a quarterly loss of $3.3 per share versus the Zacks Consensus Estimate of a loss of $3.12. This compares to a loss of $2.8 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -5.77%. A quarter ago, it was expected that this an electric vehicle automaker would post a loss of $2.72 per share when it actually produced a loss of $3.46, delivering a surprise of -27.21%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Lucid Group, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $405.35 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 25.37%. This compares to year-ago revenues of $259.43 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Lucid Group shares have lost about 27.2% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Lucid Group?While Lucid Group has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Lucid Group was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$2.93 on $495.62 million in revenues for the coming quarter and -$11.93 on $1.75 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Fox Factory Holding (FOXF - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This vehicle suspension maker is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -60%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Fox Factory Holding's revenues are expected to be $353.07 million, down 5.8% from the year-ago quarter.

For the quarter ended June 2026, Paramount Skydance (PSKY - Free Report) reported revenue of $6.91 billion, up 0.9% over the same period last year. EPS came in at $0.18, compared to $0.46 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $6.88 billion, representing a surprise of +0.43%. The company delivered an EPS surprise of +20%, with the consensus EPS estimate being $0.15.

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

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

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

Paramount+ Subscribers: 81.6 million versus 79.67 million estimated by three analysts on average.Revenues- TV Media- Total: $3.13 billion compared to the $3.14 billion average estimate based on five analysts.Revenues- Studios- Total: $1.31 billion versus the five-analyst average estimate of $1.23 billion.Revenues- Direct-to-Consumer- Total: $2.47 billion versus the five-analyst average estimate of $2.49 billion.Revenues- TV Media- Affiliate and subscription: $1.58 billion compared to the $1.58 billion average estimate based on three analysts. The reported number represents a change of -11.2% year over year.Revenues- TV Media- Licensing and other: $127 million versus the three-analyst average estimate of $120.4 million. The reported number represents a year-over-year change of -77.9%.Revenues- Direct-to-Consumer- Advertising: $535 million versus $542.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.3% change.Revenues- Direct-to-Consumer- Affiliate and subscription: $1.94 billion versus the three-analyst average estimate of $1.93 billion. The reported number represents a year-over-year change of +16.5%.Revenues- Studios- Theatrical: $138 million versus $214.53 million estimated by three analysts on average.Revenues- Studios- Licensing and other: $1.17 billion versus the three-analyst average estimate of $991.98 million.Revenues- Studios- Advertising: $4 million compared to the $3.68 million average estimate based on three analysts.Revenues by Type- Advertising: $1.96 billion versus the three-analyst average estimate of $2.02 billion. The reported number represents a year-over-year change of -9%.View all Key Company Metrics for Paramount Skydance here>>>

Shares of Paramount Skydance have returned -18.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

LONG BEACH, Calif., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Rocket Lab Corporation (Nasdaq: RKLB), a global leader in launch services and space systems, today announced it has been awarded a $397 million contract by the United States Space Force under the Space-Based Airborne Moving Target Indicator (SB-AMTI) program. The initiative, led by the Portfolio Acquisition Executive (PAE) for Space-Based Sensing and Targeting (SBST), aims to enhance global security by deploying a resilient space-based system to detect and track airborne threats in real time.

Under the contract, Rocket Lab will develop, launch, and operate multiple advanced Flatellites — a next-generation flat satellite design optimized for large constellations — with space-based sensors and low latency, high bandwidth communication links. Rocket Lab will launch the Flatellites on the Company’s upcoming Neutron rocket and operate them from secure facilities, providing data and track information to the Space Force. An option for additional Flatellites is included in the total contract value. The Flatellite spacecraft and Neutron launch service will enable vendor diversity in the SB-AMTI program and increased capabilities for deploying the SB-AMTI architecture, which integrates cutting-edge sensors, secure communications, and robust ground processing systems to provide the U.S. military with persistent, real-time battlespace awareness in contested environments.

By integrating launch, spacecraft, and mission operations, the contract award is a strong recognition of Rocket Lab’s strategic vertical integration model that delivers rare end-to-end space capabilities.

“Rocket Lab is honored to play a key role in the SB-AMTI program, which is critical to expanding the Space Force’s layered, resilient tracking architecture,” said Sir Peter Beck, Rocket Lab founder and CEO. “Our vertically integrated, constellation-class satellite capabilities, mission operations, and launch services uniquely position us to deliver innovative solutions that meet the urgent needs of the Space Force. We are proud to contribute to the deployment of a resilient space-based sensing layer that will enhance the Joint Force’s ability to operate in contested airspace.”

Rocket Lab’s selection builds on its proven track record of supporting U.S. government and defense initiatives, including successful missions for the Space Force, National Reconnaissance Office, DARPA, and NASA. With its vertically integrated approach — spanning satellite design, manufacturing, launch, and on-orbit operations — Rocket Lab ensures the rapid and reliable delivery of critical space systems.

About SB-AMTI: For decades, the military has relied heavily on terrestrial and airborne sensors to track moving targets in the air. However, deploying these traditional sensing aircraft into highly contested environments is becoming increasingly unviable, as those platforms face unprecedented risks from increasingly sophisticated anti-access/area-denial systems. Spearheaded by the Portfolio Acquisition Executive (PAE) for Space-Based Sensing and Targeting (SBST), this ambitious initiative is designed to provide the Joint Force with persistent vigilance over the battlefield, tracking airborne threats continuously from space.

Designed as a complex "system-of-systems," SB-AMTI isn't just a single satellite. It is a highly integrated architecture encompassing advanced space-based sensors, artificial intelligence-driven resilient ground processing and secure communication links. By leveraging AI to filter clutter and identify targets hidden within massive data streams, the ultimate goal is to provide warfighters with continuous oversight and real-time tracking data, eliminating operational blind spots regardless of what is happening in the airspace below.

Rocket Lab Media Contact
Matt McKinney
[email protected]

About Rocket Lab
Rocket Lab (Nasdaq: RKLB) is an end-to-end space company delivering rockets, satellites, and spacecraft components for commercial, government, and defense missions. Driven by its industry-leading small-lift rockets Electron and HASTE and its upcoming reusable Neutron medium-lift rocket, Rocket Lab delivers reliable and responsive launch for the world’s most important missions from constellation deployment to missile defense. Rocket Lab’s satellites and components have powered more than 1,700 missions in Earth orbit, as well as deep-space exploration of the Moon, Mars, and beyond. Learn more at www.rocketlabcorp.com.

Forward Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy, the deployment and delivery of Flatellite satellites, our ability to meet contract milestones and timelines, and the SB-AMTI program deployment, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at https://investors.rocketlabcorp.com which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f603e89-a7b3-441e-91a8-63f7b1106559 

Rocket Lab Awarded $397 Million Contract to Build and Launch Flatellites for U.S. Space Force’s Spac... Artist impression of Rocket Lab Flatellite spacecraft inside a Neutron launch vehicle fairing.

By PYMNTS  |  August 4, 2026

 | 

Highlights

Enterprise momentum accelerated as Marqeta said the average size of new deals signed during the quarter increased more than 90% year over year, reflecting a shift toward larger embedded finance programs.

Management said stablecoin-backed cards are emerging from exploratory discussions into active customer demand, particularly for cross-border payouts and multinational banking platforms.

Despite some moderation in specific customer programs, Marqeta said lending and BNPL remain among its fastest-growing businesses.

Marqeta’s second-quarter earnings call Tuesday (Aug. 4) highlighted embedded finance, multinational issuing, stablecoins and commercial payments as the company’s primary strategic growth initiatives, even as overall growth is expected to moderate in the second half.

CEO Mike Milotich said customers want a single platform spanning card issuing, money movement, embedded banking capabilities and fraud decisioning rather than stitching together multiple provider.

“Our momentum this quarter highlights three ways this differentiation is translating into growth,” Milotich said, pointing to multinational card issuing, a broader product suite that now includes stablecoin-backed card capabilities and growing traction with larger enterprise customers.

He noted that the average deal signed during the quarter increased more than 90% from a year earlier as Marqeta expands from serving high-growth FinTechs into winning larger embedded-finance programs with established enterprises.

Marqeta also detailed its expansion into stablecoin-backed card programs through partnerships with Zero Hash and BVNK, along with participation in the OpenUSD initiative.

“Our strategy here is straightforward,” Milotich told, analysts, which is “to make digital dollars spendable through the same trusted card rails our customers and users already utilize on a daily basis.”

Analysts pressed management on whether the initiative reflects actual customer demand or simply preparation for a future market.

Milotich said the answer is both.

“I would say there’s a lot of exploratory discussion,” he said, particularly among businesses making cross-border payouts and companies building multinational banking offerings. He also noted that Marqeta already has experience supporting crypto-backed cards through existing relationships with Coinbase in the United States and Panda in Europe.

BNPL Evolves Beyond Virtual Cards Executives described current changes as an evolution in how buy now, pay later (BNPL) transactions are delivered.

The company said one major customer has shifted more spending toward flexible credential products while distributing some traditional single-use virtual card volume among multiple providers. Although that will slow reported growth, Milotich argued Marqeta retained the more strategic part of the business.

“If there’s a trade-off to be made, we feel like this is a good one,” he said, noting the company still expects lending, including BNPL, to grow more than 30% during the second half despite tougher comparisons. Flexible credentials, he said, are becoming the stickier, faster-growing product as BNPL providers expand beyond one-time virtual cards into longer-term payment relationships.

Management also said it is not seeing meaningful changes in consumer spending behavior, providing some reassurance that payment volumes remain fundamentally healthy heading into the second half of the year.

Looking Beyond Debit The company is also focusing on  additional money movement capabilities beyond cards, integrating fraud decisioning with richer merchant data.

Milotich also outlined a longer-term vision for credit in which issuers match consumers with multiple financial products instead of rejecting applicants who fail to qualify for premium rewards cards.

“We’re talking to them about a much more holistic offering,” he said, describing a future where companies can steer applicants toward credit-builder products, BNPL options or revolving credit using a unified technology platform instead of separate systems. Because Marqeta supports debit, credit, commercial products and multinational issuing from a single technology stack, he argued the company can offer a broader portfolio than competitors focused on individual products.

Processing volume reached $120 billion, increasing 32%, marking the fourth consecutive quarter above 30% growth. At the same time, executives acknowledged that diversification of Cash App card issuance, changing BNPL transaction mix and tougher year-over-year comparisons will temper reported growth over the remainder of 2026. Shares were flat in after-hours trading.

American Financial Group (AFG - Free Report) came out with quarterly earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.41 per share. This compares to earnings of $2.14 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +17.01%. A quarter ago, it was expected that this property and casualty insurer would post earnings of $2.55 per share when it actually produced earnings of $2.47, delivering a surprise of -3.14%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

American Financial, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $1.94 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.65%. This compares to year-ago revenues of $1.86 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

American Financial shares have added about 3.8% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for American Financial?While American Financial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for American Financial was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.93 on $2.31 billion in revenues for the coming quarter and $11.37 on $8.07 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, American Integrity Insurance (AII - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 11.

This company is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -56%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

American Integrity Insurance's revenues are expected to be $93.5 million, up 26.3% from the year-ago quarter.

Lennar (LEN - Free Report) ended the recent trading session at $87.02, demonstrating a +2.14% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 1.79%. Meanwhile, the Dow gained 1.71%, and the Nasdaq, a tech-heavy index, added 2.59%.

Coming into today, shares of the homebuilder had lost 2.8% in the past month. In that same time, the Construction sector lost 3.64%, while the S&P 500 gained 1.72%.

The upcoming earnings release of Lennar will be of great interest to investors. On that day, Lennar is projected to report earnings of $1.31 per share, which would represent a year-over-year decline of 34.5%. In the meantime, our current consensus estimate forecasts the revenue to be $8.33 billion, indicating a 5.42% decline compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.46 per share and a revenue of $32.27 billion, representing changes of -32.26% and -5.6%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Lennar. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Lennar is holding a Zacks Rank of #5 (Strong Sell) right now.

In terms of valuation, Lennar is currently trading at a Forward P/E ratio of 15.61. This represents a premium compared to its industry average Forward P/E of 14.17.

One should further note that LEN currently holds a PEG ratio of 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Building Products - Home Builders industry had an average PEG ratio of 2.86.

The Building Products - Home Builders industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 169, finds itself in the bottom 32% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.

Acadia Pharmaceuticals (ACAD - Free Report) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +200.00%. A quarter ago, it was expected that this drugmaker would post earnings of $0.04 per share when it actually produced earnings of $0.02, delivering a surprise of -50%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $307.96 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.81%. This compares to year-ago revenues of $264.57 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Acadia shares have lost about 4.1% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Acadia?While Acadia has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Acadia was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.13 on $328.06 million in revenues for the coming quarter and $0.39 on $1.24 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, MaxCyte, Inc. (MXCT - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 12.

This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 14.3% lower over the last 30 days to the current level.

MaxCyte, Inc.'s revenues are expected to be $6.5 million, down 23.6% from the year-ago quarter.

August 04, 2026 18:00 ET  | Source: Sunrun Inc.

SAN FRANCISCO, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, today announced it has priced a securitization of leases and power purchase agreements. The securitization is Sunrun’s seventeenth securitization since 2015 and second issuance in 2026.

“This $267 million public securitization involves refinancing a seasoned portfolio of residential solar assets. We appreciate our financial partners’ continued confidence in our high quality assets and servicing standards,” said Danny Abajian, Sunrun’s Chief Financial Officer. “This securitization was raised with Class A notes being priced at a 200 basis point credit spread, a 20 basis point improvement from the public Class A-1 Notes in Sunrun’s April 2026 securitization.”

The securitization was structured with one class of A- rated notes (the “Class A Notes”) and one class of BB- rated notes (the “Class B Notes”). The Class B Notes were retained by Sunrun. The $267 million Class A Notes were marketed in a public asset backed securitization. The Class A Notes were priced with a coupon of 6.28%. The pricing of the Class A Notes reflects a spread of 200 basis points and a 6.33% yield. The initial balance of the Class A Notes represents a 74.2% advance rate on ADSAB (present value using a 7.5% discount rate). The Class A Notes have an expected weighted average life of 4.94 years, an Optional Redemption Date of July 30, 2035, and a final maturity date of January 30, 2054.

The notes are backed by a diversified portfolio of 37,595 systems distributed across 42 utility service territories in 13 states. The weighted average customer FICO is 756. The transaction is expected to close by the end of August.

BofA Securities was the sole structuring agent and served as joint bookrunner with Citigroup, Morgan Stanley, and RBC Capital Markets. KeyBanc Capital Markets and First Citizens Capital Securities served as co-managers for the securitization.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Sunrun

Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. In some cases, you can identify forward-looking statements because they contain words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "target," "projects," "contemplates," "potential," or the negative of these words or other similar terms or expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding: the anticipated closing of the securitization; the anticipated terms and timing of additional subordinated subsidiary-level non-recourse financing and its effect on the Company’s cumulative advance rate; the Company's ability to access capital markets at scale and on favorable terms; and the expected demand for the Company's solar and storage assets.

These statements are not guarantees of future performance; they reflect the Company's current views with respect to future events and are based on assumptions and estimates and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from expectations or results projected or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: changes in the capital markets, including the availability and terms of financing for the solar and storage industry; volatile or rising interest rates; changes in policies, regulations, and incentives, including net metering, interconnection limits, fixed fees, and the availability of tax credits; tariff and trade policy impacts; supply chain risks; the Company's ability to meet covenants in its investment funds and debt facilities; and the factors described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, each as filed with the U.S. Securities and Exchange Commission.

All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update publicly these forward-looking statements for any reason, except as required by law.

Investor & Analyst Contacts:

Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Media Contact:

Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

Want Diversified Upside in Biotechnology? Check out LABUArrowhead Pharmaceuticals NASDAQ: ARWR reported positive Phase III results for plozasiran in severe hypertriglyceridemia (SHTG), accelerating plans for a supplemental New Drug Application and highlighting continued growth in the launch of its REDEMPLO therapy for familial chylomicronemia syndrome (FCS).

For the fiscal third quarter ended June 30, 2026, Arrowhead recorded a net loss of $194.3 million, or $1.36 per diluted share, compared with a loss of $175.2 million, or $1.26 per share, a year earlier. Revenue rose to approximately $75 million from $28 million in the prior-year period, driven by collaboration agreements and commercial REDEMPLO sales.

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Phase III SHTG Results and Regulatory Plans President and Chief Executive Officer Dr. Chris Anzalone said the company’s Phase III SHASTA-3 and SHASTA-4 studies both met their primary endpoint and all prespecified secondary endpoints in patients with SHTG.

Median triglyceride reductions from baseline were 79% in SHASTA-3 and 81% in SHASTA-4. In the studies’ placebo groups, reductions were approximately 27%, according to Andy Davis, senior vice president and head of the Global Cardiometabolic Franchise.

Arrowhead also reported a statistically significant reduction in acute pancreatitis events in a prespecified pooled analysis of the trials. Davis said plozasiran reduced cumulative acute pancreatitis events by 78% versus placebo across the broader SHTG population. In a subgroup of patients with triglyceride levels above 880 milligrams per deciliter and a prior history of acute pancreatitis, the company reported a 100% reduction in events versus placebo.

The company said safety and tolerability findings were consistent with prior plozasiran studies. Anzalone said Arrowhead observed no new safety signals, no clinically meaningful adverse changes in liver enzymes, no hypersensitivity cases and no thrombocytopenia signal. In a prespecified MRI-PDFF subgroup, there was no statistically significant difference in mean liver fat content between plozasiran and placebo.

Detailed SHASTA results are scheduled for presentation at the European Society of Cardiology Congress on Aug. 30, followed by an Arrowhead webcast on Aug. 31. Chief Medical Officer and Head of R&D Dr. James Hamilton said the company remained under embargo regarding further trial details ahead of the conference.

Arrowhead intends to submit an sNDA to the Food and Drug Administration before the end of 2026. The company acquired an FDA priority review voucher that could shorten the agency’s review period from 10 months to six months. Chief Financial Officer Dan Apel said Arrowhead expects to pay $215 million for the voucher during its fiscal fourth quarter, following Hart-Scott-Rodino clearance.

Management said the initial focus of a potential SHTG launch would likely be patients at the highest risk, while emphasizing that the clinical data support treatment across patients with triglyceride levels above 500 milligrams per deciliter. Anzalone said the company expects SHTG to be an education-driven market because physicians have historically had limited options for substantially reducing triglycerides.

REDEMPLO Launch Expands in FCS REDEMPLO prescription volume more than doubled during the fiscal third quarter and that momentum continued into the current quarter, Davis said. Arrowhead has supported more than 400 unique prescribers, led by preventive cardiologists and endocrinologists.

Davis said the company was receiving approximately 20 to 30 new prescriptions per week, consistent with its previously disclosed run rate. Arrowhead is working to improve the progression of prescriptions through prior authorization and appeals processes and expects an additional wave of field personnel to enter the market during August.

REDEMPLO has favorable policies in place with the most significant U.S. payers, according to Davis, and the company expects remaining coverage gaps to narrow in the coming months. Nearly all published payer policies allow clinicians to diagnose FCS through clinical criteria rather than genetic confirmation alone.

The therapy’s U.S. wholesale acquisition cost remains $45,000 per patient annually. Management said it does not intend to change the price following the SHASTA results, citing REDEMPLO’s efficacy, safety profile, quarterly dosing schedule and 25-milligram fixed dose.

REDEMPLO is approved for FCS in the United States, Canada, China, Australia and the European Union. Arrowhead said reimbursement processes in Europe will proceed country by country over approximately 12 months, beginning with Germany. Sanofi leads commercialization in Greater China.

Pipeline Readouts Ahead Arrowhead expects several clinical data releases before year-end. The company plans to report top-line Phase I data for ARO-DIMER-PA in September. The candidate is designed to silence both APOC3 and PCSK9 to reduce LDL cholesterol and triglycerides in patients with mixed hyperlipidemia.

The company also expects September data from its Phase I healthy-volunteer study of ARO-MAPT, a subcutaneously administered RNA interference therapy targeting tau. Hamilton said the release will focus on safety and total tau knockdown, with Arrowhead targeting approximately 50% to 60% knockdown. The study’s second phase in Alzheimer’s disease patients is actively enrolling.

For obesity and metabolic dysfunction-associated steatohepatitis, Arrowhead plans to provide an update primarily focused on ARO-ALK7 in the fourth quarter. It has submitted an ARO-INHBE Phase IIb protocol to regulators. Earlier data showed a placebo-adjusted 44% reduction in liver fat in a small subgroup of patients with obesity and elevated baseline liver fat receiving at least a 200-milligram dose as monotherapy.

Separately, Arrowhead completed enrollment in the Phase III YOSEMITE trial of its therapy for homozygous familial hypercholesterolemia, enrolling 70 patients compared with a planned 60. The company expects study completion in mid-2027 and data in the second half of 2027.

Financial Position and Collaboration Revenue Apel said the quarter’s revenue included approximately $26 million from the Sarepta collaboration, about $20 million from the Novartis collaboration and the full $25 million upfront payment from Madrigal for the ARO-PNPLA3 license and technology transfer.

Commercial REDEMPLO revenue was approximately $2.4 million for the quarter, more than double the roughly $1 million reported in the prior fiscal quarter. Arrowhead said it does not plan to separately highlight product sales until they become a more meaningful financial contributor.

Operating expenses increased to approximately $245 million from $193 million a year earlier, including research and development expense of $198 million and selling, general and administrative expense of $47 million. The increases reflected clinical development, manufacturing activity and commercialization investment.

Arrowhead ended the quarter with approximately $1.6 billion in cash and investments. Apel said the company believes its balance sheet provides flexibility to fund pipeline development, commercial activities and longer-term strategic priorities.

About Arrowhead Pharmaceuticals (NASDAQ:ARWR)Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company's approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company's pipeline includes multiple candidates in various stages of development.

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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Macerich (MAC - Free Report) came out with quarterly funds from operations (FFO) of $0.35 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to FFO of $0.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +6.06%. A quarter ago, it was expected that this shopping center real estate investment trust would post FFO of $0.31 per share when it actually produced FFO of $0.34, delivering a surprise of +9.68%.

Over the last four quarters, the company has surpassed consensus FFO estimates three times.

Macerich, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $249.71 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.24%. This compares to year-ago revenues of $249.79 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Macerich shares have added about 40.1% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Macerich?While Macerich has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Macerich was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.37 on $251.47 million in revenues for the coming quarter and $1.49 on $1 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Retail is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Finance sector, Hamilton Insurance (HG - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This provider of insurance and reinsurance services is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of -38.1%. The consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level.

Hamilton Insurance's revenues are expected to be $687.02 million, down 7.3% from the year-ago quarter.

Sixth Street (TSLX - Free Report) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.88%. A quarter ago, it was expected that this business development company would post earnings of $0.49 per share when it actually produced earnings of $0.42, delivering a surprise of -14.29%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Sixth St, which belongs to the Zacks Financial - SBIC & Commercial Industry industry, posted revenues of $97.84 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.50%. This compares to year-ago revenues of $115.01 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Sixth St shares have lost about 18.4% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Sixth St?While Sixth St has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Sixth St was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.42 on $98.62 million in revenues for the coming quarter and $1.71 on $392.12 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - SBIC & Commercial Industry is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, PhenixFIN (PFX - Free Report) , is yet to report results for the quarter ended June 2026.

This investment firm is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of -19%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PhenixFIN's revenues are expected to be $5.63 million, down 8.6% from the year-ago quarter.

The Arista logo is seen in this illustration taken August 3, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

Aug 4 (Reuters) - Arista Networks (ANET.N), opens new tab forecast third-quarter revenue above Wall Street estimates on ​Tuesday, betting on strong demand ‌for its networking gear as companies expand their AI infrastructure.

The company has been ​expanding beyond its core ​cloud customer base into enterprise campus ⁠and branch networking to diversify ​its revenue.

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Shares were ​up 3% after the bell.

Arista, which makes the high-speed computer networking equipment that powers ​big data centers for customers ​like Microsoft and Amazon, forecast third-quarter revenue ‌of $3.3 ⁠billion, above analysts' average estimate of $2.94 billion, according to LSEG data.

The company also beat second-quarter expectations, posting ​revenue of $3.04 ​billion ⁠and adjusted earnings per share of $1.02, above analysts' estimate ​of $2.82 billion and 88 ​cents ⁠per share, respectively

It forecast third-quarter adjusted earnings per share in the range ⁠of $1.06 ​to $1.08, also above ​estimate of 91 cents.

Reporting by Nithyashree R B ​in Bengaluru; Editing by Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Lattice Semiconductor (LSCC - Free Report) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +20.46%. A quarter ago, it was expected that this chipmaker would post earnings of $0.36 per share when it actually produced earnings of $0.41, delivering a surprise of +13.89%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Lattice, which belongs to the Zacks Electronics - Semiconductors industry, posted revenues of $201.08 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.65%. This compares to year-ago revenues of $123.97 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Lattice shares have added about 72.9% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Lattice?While Lattice has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Lattice was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.47 on $193.66 million in revenues for the coming quarter and $1.79 on $749.72 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Semiconductors is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Alpha and Omega Semiconductor (AOSL - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 12.

This chipmaker is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of -1250%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Alpha and Omega Semiconductor's revenues are expected to be $168 million, down 4.8% from the year-ago quarter.

Jacobs Solutions (J - Free Report) came out with quarterly earnings of $1.84 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $1.62 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this construction and technical services company would post earnings of $1.64 per share when it actually produced earnings of $1.75, delivering a surprise of +6.71%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Jacobs Solutions, which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $4.08 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 15.07%. This compares to year-ago revenues of $3.03 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Jacobs Solutions shares have added about 4.7% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Jacobs Solutions?While Jacobs Solutions has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Jacobs Solutions was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.15 on $3.61 billion in revenues for the coming quarter and $7.23 on $14.17 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Miscellaneous is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Owens Corning (OC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This construction materials company is expected to post quarterly earnings of $3.06 per share in its upcoming report, which represents a year-over-year change of -27.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Owens Corning's revenues are expected to be $2.67 billion, down 2.8% from the year-ago quarter.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American: SEB), with offices at 9000 West 67th Street, Merriam, Kansas, for the three and six months ended July 4, 2026 and June 28, 2025, in millions of dollars except share and per share amounts.

(UNAUDITED)

Three Months Ended

Six Months Ended

July 4,

June 28,

July 4,

June 28,

2026

2025

2026

2025

Net sales

$

2,922

$

2,480

$

5,322

$

4,796

Operating income

$

100

$

52

$

196

$

90

Net earnings attributable to Seaboard

$

153

$

102

$

272

$

134

Earnings per common share

$

159.74

$

105.22

$

283.99

$

138.11

Average number of shares outstanding

957,794

969,427

957,794

970,228

Dividends declared per common share

$

2.25

$

2.25

$

4.50

$

4.50

Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.

Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on August 24, 2026 to stockholders of record at the close of business on August 14, 2026.

SOURCE Seaboard Corporation

BIP-110 is approaching its first consequential activation boundary. The proposal enters mandatory signaling at block 961,632, currently projected around August 9, 2026. It locks in no later than block 963,648, roughly in late August, and activates its new transaction rules at block 965,664, currently projected for early September. BIP-110 uses a 55% signaling threshold and would enforce its restrictions for 52,416 blocks, approximately one year.

Bitcoin resolves consensus changes through coordination among miners, users, and nodes (note that anyone can be any combination of these three things). Miners choose which valid chain to extend. Users decide which chain’s coins, deposits, and payments they recognize. Nodes independently choose which rules they enforce. Durable consensus emerges whenever these groups converge on the same chain.

BIP-110 restricts large data pushes, oversized output scripts, undefined witness versions, Taproot annexes, deep Taproot control blocks, OP_SUCCESS opcodes, and certain Tapscript conditionals. It grandfathers UTXOs created before activation, while standard monetary uses remain compatible with its rules.

Most corporations don’t have to do anything  For most corporations, BIP-110 requires no action. Today, the typical corporate Bitcoin utility is as a store of value, as a long-duration treasury reserve asset. This use case is basically unaffected by the transaction features targeted by BIP-110.

Corporations using Bitcoin for payments also face limited direct impact. Standard on-chain payments remain compatible (see below for specifics), while ordinary Lightning payments occur off-chain. A chain split can still affect Lightning channel monitoring, force-close behavior, and the chain source that a Lightning node treats as authoritative. However, even corporations using Bitcoin for payments normally use a third party provider like Square, so all of this abstracted away to be a non-issue. 

A corporation that runs its own full node has a direct choice. Every user retains the right to run the Bitcoin implementation that matches its needs. A corporation that supports BIP-110 should therefore switch over to running BIP-110. All other node-running corporations can simply do nothing. 

A BIP-110 node enforces tighter rules. During mandatory signaling, it rejects blocks that fail to signal bit 4. After activation, it also rejects blocks containing transactions that violate BIP-110. A non-BIP-110 node accepts BIP-110-compliant blocks as well as blocks that remain valid under the existing rules. Among all chains valid under its own rules, a node follows the branch with the greatest accumulated proof of work.

So the key factor to be aware of is a chain split. When miners build a chain that is not compliant to the BIP, BIP-110 nodes can separate from the broader network. Non-BIP-110 nodes may continue following the higher-work branch, while BIP-110 nodes could remain on a compliant branch with less accumulated work. 

Corporations dealing with chain splits  Mining companies face the highest immediate economic exposure. Electricity and machine time are sunk costs. A miner should select the branch it expects other miners, nodes, and users to recognize and mine on it. A miner may also stop mining and wait for the chain split to resolve. If BIP-110 and non-BIP-110 chains develop independently, miners must track chainwork, signaling, validity under both rule sets, and their own mining pool’s stance, and the market value assigned to each branch.

Corporations operating exchanges and institutional custody should prepare for settlement uncertainty. During an extended split, the ordinary six-confirmation standard loses much of its value because each branch can show six confirmations independently. Operators should monitor both branches, raise confirmation requirements, pause large deposits or withdrawals when risk rises, and delay final settlement until one branch has decisively accumulated more work or the transaction has sufficient depth on all viable branches. Different validation rules can produce chain splits, false confirmations, and double-spend risk.

Let’s consider a chain split occurring at block height S. 

Chain splits and determining overall global finality Suppose a deposit appears on Chain A at S+4 and on Chain B at S+6. Once both chains reach S+12, the deposit has substantial depth on each branch (assuming we are still using six-confirmations). Now, this number of six confirmations should change depending on the work on each branch. And it might be the case that the number of confirmations one would like to see would be different for each branch. The main point is that the operator must wait until both branches reach the requisite confirmations. The operator can at that point be confident that the transaction remains, not matter which branch becomes canonical.

If the transaction appears on only one branch, the operator should wait for that branch to win or apply chain-specific accounting. That would be the only way to ensure no double spending happens. In practice, monetary transactions should always eventually appear on both branches, since the BIP-110 chain does not prohibit monetary transactions.

Conclusion  The main thing to be aware of is a chain split. If there is no split, then there is nothing that needs to be done differently. Even with a chain split, BIP-110 will not create insurmountable disruptions. 

For corporations that may be impacted by a chain split, the main action to take is to lengthen confirmation times and monitor both branches. For node-running corporations that support the BIP, the main action is to start running it on their nodes, if they haven’t already. 

Miners, as usual, should direct their hashrate based on their view of which branch will end up with the most accumulated proof of work. Exchanges and custodians should lengthen settlement procedures and maintain visibility into both chains, should a chain split occur. For the daily operations of most corporate Bitcoin users, BIP-110 changes very little, if it changes anything at all. 

Disclaimer: This content was prepared on behalf of Bitcoin For Corporations for informational purposes only. It reflects the author’s own analysis and opinion and should not be relied upon as investment advice. Nothing in this article constitutes an offer, invitation, or solicitation to purchase, sell, or subscribe for any security or financial product.

Allard Peng

Research and Insights Analyst at Bitcoin for Corporations

Hardware wallets are supposed to be the gold standard of Bitcoin security. The whole pitch is simple: keep your keys offline, away from hackers, away from exchanges, away from anything that could go wrong. So when a firmware flaw undermines that promise, the community tends to notice. When someone responds by literally shooting the device, everyone notices.

That is exactly what happened when Adam, known on X as @denverbitcoin, announced plans to destroy his ColdCard Q on August 2, 2026, framing the act as a symbolic gesture on behalf of users hurt by the vulnerability.

What the flaw actually did When a ColdCard Q automatically generated a seed phrase, it drew on a pool of randomness that was limited to 32 bytes of entropy, making the seed theoretically easier to brute-force than users were led to believe.

The practical impact depended heavily on whether a user had added a passphrase, sometimes called the 25th word. A passphrase is an extra layer on top of the standard 24-word seed phrase. Users who had one were largely insulated from the problem. Users who had not were the ones left exposed.

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Coinkite, the company behind the ColdCard lineup, acknowledged the issue and released updated firmware. The company also advised affected users to generate entirely new seeds, and clarified that the hardware itself was not defective. Only the firmware’s seed generation routine was at fault.

Why Adam pulled the trigger Adam’s framing was explicitly about solidarity. He described the act as honoring users who had been effectively robbed because of the vulnerability, a pointed choice of words that places blame squarely on the firmware’s failure rather than on user error.

Criticism has also landed on influencers and educators who recommended ColdCard devices without, in the view of critics, sufficiently stress-testing the security assumptions or pushing passphrase adoption hard enough.

NVK, Coinkite’s founder, has faced direct criticism throughout the discussions on X, though engagement from mainstream crypto media has been limited. The bulk of the conversation has stayed within the platform’s Bitcoin-focused corners.

What this means for the hardware wallet market The ColdCard has long occupied a specific position in the Bitcoin hardware wallet market as the choice of the security-maximalist. That reputation made the entropy flaw particularly jarring for its core audience.

The deeper market implication is about defaults. A firmware vulnerability that only affects users without passphrases is, in one reading, a user education problem. In another reading, it is a product design problem.

What to watch now is whether Coinkite’s updated firmware and communication strategy are enough to retain its reputation among the security-conscious Bitcoin holders who made up its core customer base, or whether this incident accelerates a shift toward competing devices. Adam’s destroyed ColdCard Q is now a permanent part of the visual record.

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