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Tether CTO Paolo Ardoino at Paris Blockchain Week on April 14, 2022. (Twitter/Bitfinex, modified by CoinDesk)Summary

Tether’s USDT, the world’s largest stablecoin, is expected to return to Bitcoin this month through infrastructure developed by the Tether-backed project Utexo.Utexo plans to support private USDT transfers, direct swaps between native bitcoin and USDT, and loans backed by native bitcoin, while keeping most transaction data off Bitcoin’s public ledger.Utexo would blacklist UTXOs linked to sanctioned or illicit activity rather than freeze addresses, and it plans to expand USDT to Bitcoin’s Lightning Network after the initial launch.“It’s coming home,” Tether CEO Paolo Ardoino proclaimed on X last week, referring to the return of his company’s stablecoin, USDT, to the Bitcoin network.

Tether’s USDT, the world’s largest stablecoin with a market cap of nearly $190 billion, began life on Bitcoin in 2014 on its Omi protocol, before Ethereum and later Tron became its primary venues.

USDT is now set to return to the world’s oldest blockchain through Tether-backed infrastructure project Utexo, which is expected to begin issuing the world's largest stablecoin on the Bitcoin network this month.

Utexo, which was founded in 2025 and raised $7.5 million in funding earlier this year, has been granted the commercial license to issue USDT on Bitcoin, using the stablecoin’s trademark to bring it to exchanges, wallets and payment providers, Utexo co-founder Viktor Ihnatiuk told CoinDesk in a Telegram message.

“Tether has always been a Bitcoin company,” Ihnatiuk told CoinDesk in a recent interview. “Bitcoin for them is a stability haven, along with gold. That’s why Tether kept buying BTC and supporting the Bitcoin community.”

Tether holds around 100,000 BTC ($8.4 billion) as of mid-August this year, according to Bitcoin Treasuries.

“I can’t speak for Tether directly, but my personal observation is that Bitcoin is a big priority for them, and it’s our job to make USDT as accessible on Bitcoin as it is everywhere else,” Ihnatiuk added.

Privacy twistUtexo’s aims to accomplish this by creating an architecture for the stablecoin that is more confidential than its equivalent on Ethereum or Tron.

Its RGB protocol will employ client-site validation to keep transaction data largely off Bitcoin’s public ledger, with ownership anchored in unspent transaction outputs (UTXOs), the chunks of bitcoin left over from transactions, similar to change from a cash purchase.

While networks like Ethereum and Tron rely on account-based models that share balance updates and transactions on public ledgers, Utexo’s architecture takes a different approach. Combining RGB’s client-side validation with Bitcoin’s UTXO model means transaction details stay entirely off-chain between the counterparties involved, using Bitcoin’s ledger solely to cryptographically demonstrate proof of ownership.

Utexo will issue USDT on Bitcoin, providing the infrastructure for exchanges, wallet providers and payment companies to offer services through APIs, SDKs and cloud.

There are three primary use cases, according to Utexo: private USDT transfers; direct swaps between native BTC and USDT without routing through an exchange; and lending, in which borrowers can use native bitcoin as collateral without wrapping it on another blockchain (as is the case with tokens like WBTC).

The privacy use case comes with an important qualification.

RGB assets ultimately sit against Bitcoin UTXOs, meaning Utexo cannot technically freeze one in the same manner that Tether can freeze an Ethereum address. Instead, Utexo would maintain a blacklist of UTXOs associated with sanctioned or illicit activity and distribute that information to exchanges and other providers.

“The UTXO will just become unredeemable, so nobody would be able to send it back to a bridge or minting tool or withdraw it to Ethereum or Tron,” Ihnatiuk said.

Once USDT issuance is live on Bitcoin next month, Utexo’s next step will be to extend to Lightning, the layer-2 network designed to enable faster, cheaper payments on Bitcoin.

The goal there may be to make USDT a token for paying fees (or gas) on Lightning, similar to how USDC, the second-largest stablecoin, is being used on Arc, the new blockchain network developed by USDC issuer Circle.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

12345678910The Definitive Stablecoin Landscape Series: Asia Pacific

The Definitive Stablecoin Landscape Series: Asia Pacific

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Sep 15, 2026

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Why it matters:

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Tether’s USDT, a $184 billion digital dollar, is coming back to Bitcoin this month, more than a decade after it first launched there. The new version promises private payments, with most details kept off Bitcoin’s public record.

USDT is the largest stablecoin, a crypto token pegged to the US dollar. It returns just as Washington asks whether Tether can police the coins it already has.

What Changes for USDT Holders When It Returns to Bitcoin?For now, nothing. Tether billed the move as an expansion of its Bitcoin support in a 2025 announcement. Coins on Tron and Ethereum stay where they are.

“USDT on Bitcoin. It’s coming home,” wrote Paolo Ardoino, CEO of Tether.

Ardoino set out the goal in 2025, promising exchanges and wallets private transfers, BTC-to-USDT swaps, and loans backed by Bitcoin.

“Bitcoin deserves a stablecoin that feels truly native, lightweight, private, and scalable,” Ardoino said at the time.

Is USDT Leaving Tron and Ethereum?

There’s no sign of that. Today, about $92 billion of USDT sits on Tron, roughly half of all coins in circulation, according to DefiLlama. Ethereum holds another $74 billion. Together, the two networks carry more than 90% of the supply.

Stablecoin Usage by Chain. Source: DefiLlamaTether’s 2025 announcement says nothing about pulling USDT from those networks. Its title describes the move as expanding Tether’s Bitcoin support.

Still, Tether has dropped networks before. In September 2025, it ended support for five older networks, including Omni, the Bitcoin-based system where USDT first launched.

The rollout belongs to Utexo, a startup that raised $7.5 million in a round Tether led. Co-founder Viktor Ihnatiuk said this week that Utexo now holds a commercial license to issue the coin.

The technology underneath is RGB, a system for issuing tokens like USDT on Bitcoin. Payment details stay with the sender and receiver and only a small digital fingerprint is recorded on Bitcoin.

Instead of replacing Tron and Ethereum, the Bitcoin version draws on them. Utexo’s bridge, a tool for moving coins between networks, takes in USDT mainly from Ethereum and Tron, according to the RGB Protocol Association.

For users, the token is the same one, pegged to the dollar. The difference is which network it travels on.

Exchanges already ask users to pick a network, such as Tron or Ethereum, before they send USDT. Sending coins on the wrong network can mean losing them.

Can Tether Still Freeze a Private Dollar?Freezing is Tether’s main answer to critics. When US senators said Iran leans on Tether’s USDT to dodge sanctions, Tether pointed to $550 million it had frozen.

On Tron and Ethereum, every USDT transfer sits on a public record. Investigators can follow the money.

The RGB version hides most of that trail. Tether’s announcement does not say how freezes would work.

Utexo has brought in Crystal Intelligence, a blockchain-tracking firm, for compliance, according to the RGB Protocol Association. Ihnatiuk himself plays down the privacy pitch.

“RGB…is mainly just a token standard, one that also brings you privacy, but that’s more of a side feature,” RGB reported, citing Ihnatiuk.

The launch has also slipped past a mid-September window Utexo once called realistic.

Meanwhile, Utexo has met Morgan Stanley to discuss USDT on Bitcoin. Support for Lightning, a faster Bitcoin payment network, comes after launch. Until wallets and exchanges switch it on, Bitcoin USDT has nowhere to travel.

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The cryptocurrency market advanced early Friday evening, with Bitcoin climbing to $86,688—up 3.38% over 24 hours—after the latest US Non-Farm Payrolls data showed job growth of just 29,000, missing forecasts of 84,000 to 90,000. Unemployment edged higher to 4.2%, and total crypto market capitalization kept within the $2.94 to $3.03 trillion range as traders took stock of macroeconomic signals and sector developments.

Institutional flows and ETF performance reinforce market momentumBitcoin’s move was echoed by positive trends among institutional products. SoSoValue reported that spot Bitcoin ETFs recorded net inflows of $103 million. BlackRock’s IBIT performed strongly with $196 million in new capital, counterbalancing an outflow of $61 million from Fidelity’s FBTC. In contrast, Ether ETFs saw daily net outflows totaling $55 million.

Ethereum itself broke out from a prolonged sideways price range, increasing 1.69% to $2,749.47, mirroring wider optimism driven by new market catalysts and infrastructure changes.

The total value locked across major cryptocurrencies reflected these shifts, as capital rotated between key assets aligned with developing headlines in Washington and on global exchanges.

AssetPrice24h ChangeMarket ShareBitcoin (BTC)$86,688+3.38%59.10%Ethereum (ETH)$2,749+1.69%11.39%Solana (SOL)$122.62+4.18%N/AXRP$1.5444+3.57%N/A“It’s coming home”: Tether launches USDT on Bitcoin with UtexoTether, the world’s largest stablecoin issuer, is returning USDT to the Bitcoin blockchain through Utexo, a platform specializing in integrating USD-backed tokens on Bitcoin-based networks. Utexo completed a $7.5 million seed funding round, co-led by Tether, alongside Portal Ventures and Big Brain Holdings.

Tether CEO Paolo Ardoino actively supported the initiative, referencing the launch with the phrase, “It’s coming home.” Utexo seeks to expand USDT’s reach by leveraging Bitcoin’s native infrastructure, combining technologies such as RGB and Lightning Network.

Backers expect Utexo’s RGB implementation in October 2026 to transform Bitcoin into a settlement channel for dollar-denominated transactions, shifting its role beyond a store of value.

Utexo’s co-founder Viktor Ignatyuk stated that the company is in discussions with Morgan Stanley to facilitate broader integration into mainstream banking custody. Hundreds of exchanges and wallet providers have shown interest in the development.

Currently, nearly $184 billion USDT circulates, representing about 60% of the global stablecoin market, while much of the remaining supply resides on Ethereum and Tron. By comparison, tokenized USDT activity on Bitcoin has been minimal due to technological limitations on legacy networks such as Omni Layer. The new initiative could address Bitcoin’s tiny share of stablecoin volume and restore its relevance in this segment.

Mini dictionary: Utexo is a technology company specializing in deploying stablecoins and digital assets on Bitcoin using the RGB protocol and Lightning Network, which enables the issuance and transfer of digital tokens on top of Bitcoin in a scalable manner.

Regulatory shifts, M&A activity, and Solana’s RWA milestoneUS regulators are signaling an easing of the policy climate for digital asset firms. On her last day in office, SEC Commissioner Hester Peirce joined new SEC Chair Paul Atkins and Commissioner Mark Uyeda in proposing new rules for digital asset custody. The reforms would allow registered investment advisers and funds to use state-chartered trust firms and some degree of self-custody, provided robust cybersecurity standards are met.

Simultaneously, the SEC and CFTC are drafting joint rules to supersede the stalled CLARITY Act. Paul Atkins acknowledged the maturation of crypto assets into a trillion-dollar market. Other regulatory measures, including the Federal Reserve’s GENIUS Act and the Innovation Exemption for NMS, remain in force until at least 2031.

Utexo’s seed raise and Armada’s Nasdaq debut capped a week of major US policy and market structure changes, creating new opportunities for institutional participation.

The merger of Armada Acquisition Corp. II and Evernorth received shareholder approval, and the combined entity will debut on Nasdaq under the ticker XRPN on October 8. The firm will hold 473 million XRP, valued at about $730 million. As anticipation built, XRP rose 3.57% to $1.5444.

Concurrently, Solana reached a record 1.2 million wallets holding tokenized stocks, with 775,000 new unique addresses added in September. This surge brought Solana’s market share of on-chain real-world asset (RWA) activity to 95%. The SOL token rallied by 4.18% to $122.62.

By contrast, AI-themed crypto assets—such as NEAR, Bittensor (TAO), and Render—underperformed, while Quant (QNT) dropped 16% to $250 following the realization that its integration into The Clearing House system did not require the asset itself, impacting investor sentiment. SHIB coin continued to trade within a tight range, showing minimal reaction to market trends.

Mini dictionary: The Clearing House is a US-based entity that operates payment systems for banks and financial institutions, providing critical infrastructure for interbank transactions.

Derivatives market squeeze and key trading levelsHigh volatility dominated the crypto derivatives market, as total liquidations hit $362.77 million in 24 hours. Nearly $269.87 million of these losses affected short positions, signifying a challenging environment for bearish traders. Around 79,443 traders saw positions forcibly closed in this liquidation cascade.

Open interest in Bitcoin futures reached 653,000 BTC, equating to $56 billion, amid a tripling of funding rates—a sign of increased leveraged bullish bets rather than direct spot purchases.

Key LevelBTC ValueETH ValueSupport$82,600$2,635–$2,660Resistance$87,200–$87,600$2,740–$2,800Critical liquidation trigger$75,800 (>$6.7B long liquidations)$2,420 (>$4.17B long liquidations)On-chain data from CryptoQuant indicated a 40% spike in monthly stablecoin inflows to Binance from addresses holding over $1 million, providing fresh buying power for possible price corrections.

The macroeconomic outlook, centered around weaker jobs growth and unemployment at 4.2%, lessens expectations for a Federal Reserve rate hike in October, while the ISM PMI price index at 77.9 adds potential inflationary pressure. Citigroup’s year-end price targets remained key psychological reference points with $113,000 for Bitcoin and $3,028 for Ethereum, supporting sentiment in the wake of today’s developments.

SlowMist Security’s Chief Information Security Officer 23pds published a post stating that Alex Shevchenko, General Manager of NEAR Intents, said the NEAR Intents exploit attacker transferred 1 BNB to a recovery wallet, leaving a message offering cooperation and requesting the other party to provide a Signal contact. This transfer originated from the same address that previously moved approximately $3.8 million in funds. About an hour ago, the same address also transferred 0.295 ETH on the Ethereum network, leaving the same message.

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Every artificial intelligence investing conversation these days seems to circle back to the same handful of trillion-dollar names that have already had their monster runs. That's understandable, but it also means the market isn't putting as much focus on smaller companies like Innodata (INOD -1.91%) and BigBear.ai (BBAI -3.65%) as they warrant. And those two just posted some of the clearest evidence yet that AI spending is reaching past the chipmakers and into the businesses that support them.

Both of these tickers are volatile, with bottom lines hovering between unprofitable and barely profitable, and they're nowhere near guaranteed to work out. But both also just delivered real, company-reported numbers that argue for investors taking a longer look.

Image source: Getty Images.

1. Innodata is turning a services business into a platform Innodata has spent years doing the unglamorous work of preparing and labeling data that large language models learn from, selling that work to big tech customers. In the second quarter, the company reported revenue of $92.1 million, up 58% from a year earlier, with adjusted earnings up 92%.

The more interesting shift is what Innodata is doing with that cash. Outgoing CEO Jack Abuhoff, who transitioned to executive chairman at the end of September as President Rahul Singhal took over as CEO, said the company closed its first engagement on a new self-serve data platform and had 15 more companies evaluating it, alongside talks with two hyperscalers about reselling access to it. That's a meaningful change in the business model: Instead of just renting out people and processes, Innodata is trying to sell software that its customers can use themselves. That type of business tends to carry better margins and stickier revenues.

It's not a finished story. A single customer still provided 37% of its revenue last quarter -- though that was down from 56% the quarter before -- and shares remain more than 45% below their 52-week high near $125 even after that record quarter, suggesting the market wants to see the platform business scale before it pays up for it.

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2. BigBear.ai just landed a contract that the stock hasn't priced in yet BigBear.ai (BBAI -3.65%) sells AI-powered analytics software to the U.S. government, and in April, it won a 10-year contract with the U.S. Air Force worth up to $900 million. Specifically, it's an "indefinite delivery, indefinite quantity" contract, government shorthand for a deal with a pre-approved ceiling that lets the Air Force award task orders to BigBear.ai without running a new competition each time. It doesn't guarantee $900 million in revenue, but it does mean BigBear.ai is now pre-qualified to bid quickly across a decade of Air Force AI work, rather than starting from scratch on every opportunity.

According to CEO Kevin McAleenan, the company's acquisition of generative AI platform Ask Sage last year will broaden its reach across national security customers, and BigBear.ai expanded that platform's capabilities for Department of Defense missions in July. Yet the stock trades near its 52-week low of $2.60, down from a high above $9, even with the backlog growing. BigBear.ai is also still deeply unprofitable, so the government pipeline will have to actually convert into cash before it means much.

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What investors should do with this Neither of these stocks should be picked as core portfolio holdings. Both are speculative, and for them to deliver 10x returns would require years of close to flawless execution from companies that are still small enough to be knocked off course by one lost customer or one delayed contract.

But if I'm putting speculative money into AI stocks at all, I'd rather put it into players like BigBear.ai. and Innodata than into stocks that have already experienced 10x run-ups premised on the assumption that everything will go right for them. When a stock has years of hoped-for future success baked into its share price, even good news can fail to lift it, and any business stumbles get punished hard. Innodata and BigBear.ai are in the opposite situation right now: Their businesses are producing real, verifiable progress, but their stocks are beaten down and don't reflect the good news yet.

Key Takeaways Northern Lights will transport and store up to 200,000 metric tons of CO2 annually for resundskraft.CO2 from Helsingborg will move by truck and ship to permanent storage 2,600 meters beneath the North Sea.The JV has seven industrial customers in four countries; Oresundskraft's service is targeted for Q4 2029. Northern Lights, a joint venture owned by Shell plc (SHEL - Free Report) , Equinor ASA (EQNR - Free Report) and TotalEnergies SE (TTE - Free Report) , involved in the carbon capture and storage (CCS) business, has recently secured a new customer for its services. The joint venture company has inked an agreement with OresundskraftKraft & Varme, owned by the City of Helsingborg, to transport carbon dioxide from a waste-to-energy facility in Helsingborg for storage in a designated reservoir under the seabed in the North Sea.

Details on the Oresundskraft DealPer the terms of the agreement, CO2 will first be captured and liquefied at Oresundskraft’s Filbornaverket waste-to-energy plant in Helsingborg, Sweden. The liquefied CO2 will then be transported by truck from the facility to the Port of Halland in Halmstad. From there, the CO2 will be shipped to its receiving terminal in Øygarden, Norway, for permanent storage in a reservoir approximately 2,600 meters beneath the seabed. Oresundskraft is Northern Lights’ second customer from Sweden, following a contract signed with the Swedish district energy provider Stockholm Exergi in 2025.

Oresundskraft Targets Biogenic and Fossil CO2The Filbornaverket facility is a waste-to-energy plant operated by Oresundskraft that handles household and industrial waste and uses it to produce steam, district heating and electricity for the local grid in Helsingborg. The carbon capture project is expected to help Oresundskraft capture biogenic CO2 and fossil CO2 emissions. The capture of biogenic CO2 can aid in the facility’s carbon removal efforts, while the capture and storage of fossil CO2 can directly reduce emissions.

Agreement Strengthens Nordic CCS InfrastructureThe Oresundskraft agreement is a significant development for Northern Lights as it strengthens the Nordic region's position as a leading CCS hub. Northern Lights is the first of its kind to allow the cross-border transportation and storage of CO2. The partners in the JV completed their first CO2 injection in 2025, marking the start of its commercial storage activities.

Under the agreement with Oresundskraft, Northern Lights will offer transportation and storage services for up to 200,000 metric tons of CO2 per year, giving the former a large-scale outlet for its captured emissions. Northern Lights is aiming to start operations under the contract in the fourth quarter of 2029, subject to the fulfillment of certain agreed conditions. With the addition of Oresundskraft, the project now has seven industrial customers across four countries. This indicates that Northern Lights is expanding its CO2 transportation and storage network and serving industrial emitters across Europe. A growing customer base may support increased utilization of the JV’s infrastructure and facilitate the expansion of its CCS operations.          

About the PartnersShell plc is one of the oil and gas supermajors headquartered in London, with operations spread across the globe. SHEL’s long-term strategy revolves around liquefied natural gas, considering the secular shift to cleaner-burning fuel for power generation worldwide, particularly in the Asia-Pacific region. Shell continues investing in projects that can support long-term production growth and reserve replacement so that the company can sustain earnings growth in the long run.

Equinor is a Norwegian integrated energy firm and the largest supplier of piped gas to Europe. EQNR’s Norwegian Continental Shelf remains the core long-term production anchor. Management raised its 2030 and 2035 NCS outlook by 100,000 barrels of oil equivalent per day and now targets 1.3 million barrels per day in 2035. The company is also a front-runner in the renewable energy space, investing in various projects, including power generation from solar and wind energy.

TotalEnergies is one of the largest integrated energy firms, with operations spread across multiple geographies. Headquartered in France, the company is increasing energy production from LNG and clean electricity. In fact, the company had 37.4 gigawatts of gross installed renewable power capacity by the end of the June quarter. The company is also a major upstream player with a strong production growth profile.

Exodus Checkout launches with DGO in Argentina. Customers can pay subscriptions with USDC or USDT. One authorization can cover future recurring charges. Exodus pays blockchain gas on subsequent subscription charges. Exodus Movement has launched a merchant payment system that brings USDC and USDT directly into subscription billing, debuting the product with DGO in Argentina.

Exodus Checkout allows eligible DGO customers to select stablecoins during checkout and pay from a compatible crypto wallet. The initial launch covers Argentina, with additional Latin American markets planned. More importantly, the infrastructure supports both one-time purchases and recurring payments, moving Exodus beyond wallet software and deeper into merchant payment processing.

DGO Tests Stablecoins Without the Card Layer The architecture differs from the card-based stablecoin option Exodus introduced for DGO customers earlier this year.

Checkout creates a direct merchant payment flow. A business generates a payment session through the Checkout API, redirects the customer to a hosted payment page and receives confirmation through webhooks once the transaction is confirmed onchain. Merchants can choose direct settlement or a two-step process where funds are held until they are captured or refunded.

The system currently supports USDC and USDT across Ethereum, Solana, Polygon, Arbitrum, Base and BNB Smart Chain, although individual merchants decide which combinations to accept.

Customers are not locked into an Exodus wallet either. Exodus lists MetaMask and Phantom among compatible options, alongside other wallets supporting the required stablecoin and network.

That makes DGO less of a wallet integration and more of a live test for Exodus’ business-facing payment infrastructure.

Recurring Billing Works Differently From a Credit Card Subscriptions expose one of the harder problems in crypto payments.

A cardholder can give a merchant credentials that support future charges. A self-custodial wallet normally requires its owner to authorize transactions individually.

Exodus Checkout bridges that gap with an onchain subscription authorization. At signup, the customer signs once and the first charge occurs in the same transaction. The authorization creates an onchain subscription that can subsequently be charged by the merchant within predefined limits.

The merchant cannot withdraw an unlimited amount. Checkout supports a per-charge cap and a budget for each billing window, with those restrictions enforced onchain.

Renewals are also not automatically initiated by the blockchain. The merchant decides when a billing cycle should be charged and submits the request through Exodus’ subscription API. Fund-moving requests require a separate merchant signing key rather than relying solely on an API credential.

That architecture more closely reproduces recurring merchant billing while preserving limits established when the wallet owner authorizes the subscription.

Who Pays Gas When DGO Renews a Subscription? The implementation answers an important practical question for customers.

A user pays the normal blockchain transaction fee when initially approving a stablecoin payment or subscription. Exodus’ customer documentation warns that the fee is paid using the native asset of the selected network.

Subsequent subscription charges work differently. When the merchant requests an authorized recurring charge, Exodus submits the onchain transaction and pays the gas.

That removes the need for a subscriber to return every month simply to approve another transaction or maintain enough ETH, SOL or another native gas token for every renewal.

Stablecoin liquidity still matters.

If the wallet does not contain enough of the authorized stablecoin, the charge can fail with an InsufficientBalance error. Checkout does not automatically cancel the subscription after repeated failures. Instead, the merchant remains responsible for deciding how failed payments affect access, retries or eventual cancellation.

That division of responsibility is important for DGO. Exodus supplies the payment rails and onchain authorization, but subscription management remains a merchant function.

Stablecoin Prices Can Still Be Set in Local Currency Checkout also separates the currency used to price a subscription from the token used to settle it.

New subscription plans can be denominated in ARS, BRL, EUR or USD. When a charge is due, Checkout can quote the corresponding amount of the settlement stablecoin and lock that rate for the transaction.

A DGO subscription therefore does not necessarily need to become a fixed-USDC product simply because the customer pays with USDC.

That distinction is especially useful for consumer businesses. Merchants can continue thinking in conventional pricing currencies while customers choose blockchain settlement at checkout.

Argentina Becomes the First Test of Merchant Adoption Latin America gives Exodus a meaningful environment in which to test the model. The company specifically points to demand for dollar stablecoins in markets exposed to currency volatility, while DGO already operates across several countries in the region.

But the Oct. 1 announcement confirms production availability only in Argentina. Expansion into Brazil, Mexico, Colombia, Chile, Peru, Uruguay and Ecuador remains planned and is explicitly treated by Exodus as forward-looking.

The more revealing numbers will therefore come after launch: payment volume, failed versus successful renewals, the share of subscribers choosing stablecoins and whether merchants beyond DGO integrate Checkout.

Those metrics would show whether stablecoins can move from an alternative way to fund crypto cards into payment infrastructure consumers repeatedly use without having to think about the blockchain underneath.

Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.

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Nexo lets XRP holders use their tokens as collateral to borrow USDT or USDC at 0% interest, with no margin calls or liquidation during the fixed term.

XRP holders can now use their tokens as collateral to access stablecoin liquidity without paying interest or selling their position, under Nexo’s Zero-interest Credit product. The service supports XRP alongside Bitcoin, Ethereum, and Solana, with no margin calls or liquidation during the agreed loan term.

Borrow at 0% with your SOL or XRP.

Zero-interest Credit now accepts SOL and XRP as collateral, alongside BTC and ETH. Stay invested, access stablecoin liquidity, and settle at maturity with no liquidation during the term.

Explore Zero-interest Credit.https://t.co/yW01EIo7zP

— Nexo (@Nexo) October 2, 2026

Nexo expanded the product to XRP and SOL earlier this year, broadening a lending model that initially supported BTC and ETH.

The structure allows holders to keep exposure to XRP while borrowing against it, but it operates differently from a standard open-ended crypto loan.

XRP Holders Can Borrow at 30% LTV For XRP-backed Zero-interest Credit, Nexo uses a 30% loan-to-value ratio and sets the minimum threshold at 5,000 XRP.

This means the value borrowed is substantially lower than the value of the XRP pledged as collateral. The product carries 0% annual interest and zero fees, according to Nexo.

Borrowers can receive the proceeds in USDT or USDC and choose a fixed duration ranging from five days to 12 months. Individual loans can reach as high as $5 million.

Unlike Nexo’s standard Credit Line, the zero-interest product cannot normally be repaid early. Settlement takes place at the predetermined maturity date unless the position qualifies for renewal.

No Liquidation During XRP Price Swings One of the main differences is how the product handles volatility.

Traditional crypto-backed loans can liquidate collateral when its value falls and the LTV exceeds a specified threshold. Nexo says its Zero-interest Credit has no margin calls or mid-term liquidation, even if XRP falls sharply while the loan is active.

However, this does not mean the borrower is guaranteed to retain all of the XRP.

Each position is opened with a Minimum Repayment Price and Maximum Repayment Price. If XRP finishes below the minimum level at maturity, collateral is used to settle the credit at that predefined floor. If XRP rises beyond the maximum level, collateral can be sold at the upper price to repay the loan, limiting the borrower’s participation above that level.

Users who enable stablecoin repayment may settle with USDT or USDC at maturity and retain their XRP if the price remains within the specified repayment range and enough stablecoins are available in their account.

XRP Becomes Productive Collateral Without a Spot Sale The addition gives XRP holders another way to access liquidity without initially selling their tokens.

Nexo said XRP and SOL-backed loans use the same core zero-interest structure as its BTC and ETH product. When the expansion was announced, the company reported more than $170 million in total Zero-interest Credit loan volume, with a 66% borrower renewal rate.

The product therefore creates another financial use for XRP outside trading: holders can pledge the asset as collateral and receive stablecoins while maintaining exposure during the fixed term, subject to the predefined settlement boundaries.

Long-term data reinforce durable efficacy and safety of POMBILITI + OPFOLDA in late-onset Pompe disease

, /PRNewswire/ -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced new data evaluating the efficacy and safety of POMBILITI® (cipaglucosidase alfa-atga) + OPFOLDA® (miglustat) in late-onset Pompe disease (LOPD) were presented at the 31st Annual Congress of the World Muscle Society (WMS), in Hiroshima, Japan.

These results from the PROPEL open-label extension (OLE) study of POMBILITI + OPFOLDA, which were shared in a late-breaking presentation, demonstrated durable motor function outcomes and relative stabilization of pulmonary function over long-term follow-up. The analysis included data from 82 individuals who received POMBILITI + OPFOLDA continuously from baseline observed in the initial PROPEL study (PROPEL baseline) to year five. For the enzyme replacement therapy (ERT)-experienced cohort, the mean duration of prior ERT at baseline was 7.6 years. These data represent long-term benefits for people with LOPD followed in the study, including both ERT-experienced and ERT-naïve cohorts. 

"These five-year results demonstrate that POMBILITI and OPFOLDA can provide durable, long-term benefits for people living with late-onset Pompe disease, including those who had been on enzyme replacement therapy for years before enrolling in the study," said Greg Friberg, M.D., Executive Vice President and Chief Research & Development Officer at BioMarin. "Sustaining motor function and limiting pulmonary decline for up to five years in a progressive disease like LOPD is clinically meaningful, and we remain committed to continuing to share long-term evidence to inform the care of people with this rare genetic condition."

Table 1. Efficacy Measures With POMBILITI + OPFOLDA From PROPEL Baseline (BL) for up to Five Years

ERT-Experienced

to Year 5
(n=62 at BL)

ERT-Naïve

to Year 4.5

(n=20 at BL)

Mean (standard deviation,
SD) change from baseline
in % predicted six-minute
walk distance (pp6MWD)     

0.7% (7.76)

10.5% (11.44)

Mean (SD) change from
baseline in % predicted
forced vital capacity
(ppFVC)

-2.8% (8.55)

-4.4% (6.89)

No new safety signals were identified. 51.2% of participants (n=42) experienced treatment-related adverse events, the majority of which were manageable. Five individuals discontinued treatment for safety reasons, including two due to serious treatment-related adverse events (chills and hypoxia [n=1], anaphylactoid reaction [n=1]).

Phase 1/2 Data Show Positive Dystrophin Expression and Favorable Tolerability With Nivudirsen (BMN 351)

Additional presentations at WMS included data evaluating nivudirsen (BMN 351), an investigational antisense oligonucleotide for ambulatory boys ages 4 to 10 with Duchenne muscular dystrophy (DMD) amenable to exon 51 skipping. Included in these presentations was an update from the ongoing Phase 1/2 351-201 study, which was previously shared at the 19th International Congress on Neuromuscular Diseases in July. Results from 351-201 showed treatment with nivudirsen was generally well tolerated and led to consistently positive outcomes across multiple measures of therapeutic benefit, including expression of near full-length dystrophin.

Below are key presentations at WMS, with all times listed in Japan Standard Time:

Phase 1/2 Results of BMN 351, an Antisense Oligonucleotide for Exon 51 Skip-Amenable Duchenne Muscular Dystrophy
Poster Presentation #2.66P
Wednesday, Sept. 30, 5:15 – 6:15 p.m.

Comprehensive Panel of Pharmacokinetic, Pharmacodynamic and Biomarker Measures Drives Clinical Development of BMN 351 for Duchenne Muscular Dystrophy
E-Poster Presentation #2.43eP
Wednesday, Sept. 30, 5:15 – 6:15 p.m.

Muscle Composition and Muscle Injury Biomarkers Improve With BMN 351 Treatment
E-Poster Presentation #2.59eP
Wednesday, Sept. 30, 5:15 – 6:15 p.m.

Long-Term (Five-Year) Efficacy and Safety of Cipaglucosidase Alfa Plus Miglustat in Adults With Late-Onset Pompe Disease Treated From PROPEL Baseline
E-Poster Presentation #3.081LBeP
Friday, Oct. 2, 2:15 – 3:15 p.m. 

Long-Term (Four-Year) Efficacy and Safety of Cipaglucosidase Alfa Plus Miglustat in Adults With Late-Onset Pompe Disease Treated From PROPEL Baseline
Poster Presentation #3.56P
Friday, Oct. 2, 2:15 – 3:15 p.m.

Baseline Disease Burden and Real-World Monitoring Practices: Global Insights From the followME Pompe Journey Registry
Poster Presentation #3.57P
Friday, Oct. 2, 2:15 – 3:15 p.m.

ATB200-03/07 Danish Subpopulation: Four-Year Efficacy and Safety of Cipaglucosidase Alfa Plus Miglustat in Adults With Late-Onset Pompe Disease
E-Poster Presentation #3.35eP
Friday, Oct. 2, 2:15 – 3:15 p.m.

About the PROPEL Open-Label Extension Study

The Phase 3 open-label extension (OLE) study (ATB200-07; NCT04138277) is a multicenter, international study designed to evaluate the long-term safety and efficacy of POMBILITI + OPFOLDA in adults with late-onset Pompe disease (LOPD) who completed the Phase 3 PROPEL study (ATB200-03; NCT03729362). Of the 118 people treated in the OLE, 82 continued POMBILITI + OPFOLDA treatment from PROPEL (62 ERT-experienced prior to PROPEL; 20 ERT-naïve) and 37 switched from the comparator arm to POMBILITI + OPFOLDA (29 ERT-experienced; eight ERT-naïve).

The study evaluates long-term changes from PROPEL baseline in six-minute walk distance (6MWD, the primary endpoint in PROPEL), forced vital capacity (FVC), creatine kinase (CK) and hexose tetrasaccharide (Hex4) levels, and patient-reported outcomes, as well as long-term safety.

About Study 351-201

The 351-201 trial (NCT06280209) is a Phase 1/2 multicenter open-label dose-escalation study evaluating BMN 351 for the treatment of boys aged 4 to 10 with Duchenne muscular dystrophy with a specific genetic change amenable to exon 51 skipping. The primary endpoints examine the safety and tolerability of BMN 351, the secondary endpoints assess plasma, urine and muscle pharmacokinetics, and key exploratory endpoints include exon-skipping efficiency, dystrophin expression, immunogenicity and functional assessments. 

The study is being conducted in three cohorts, with Cohort 1 being divided into Cohort 1A and Cohort 1B. In Cohort 1A, three boys received increasing doses once every two weeks with a visit to assess safety measures collected the week after dosing prior to escalating doses of BMN 351. In part two, the participants in Cohort 1A transitioned to once-weekly dosing. The participants in Cohort 1B, 2 and 3 will receive low (6 mg/kg), medium (9 mg/kg) and high (12 mg/kg) doses of BMN 351 and continue once-weekly dosing at that same dose.

For more information, please visit clinicaltrials.biomarin.com.

About Late-Onset Pompe Disease

Late-onset Pompe disease (LOPD) is an inherited lysosomal disorder caused by deficiency of the enzyme acid alpha-glucosidase (GAA). Reduced or absent levels of GAA lead to accumulation of glycogen in cells, which is believed to result in the clinical manifestations of Pompe disease. LOPD can be severe and debilitating with progressive muscle weakness throughout the body that worsens over time, particularly in skeletal muscles and muscles that control breathing.

About Duchenne Muscular Dystrophy

Duchenne muscular dystrophy (DMD) is a severe neuromuscular condition that leads to progressive muscle weakness and premature mortality. DMD is caused by genetic changes that result in the absence or dysfunction of dystrophin, an essential protein that is necessary for preserving muscle function.

As an X-linked disorder, DMD primarily affects young boys, with onset of symptoms occurring around 2 to 3 years of age. The incidence of DMD is up to 1 in 3,600 to 6,000 live male births.

Individuals with DMD experience serious functional impairments, including loss of limb strength and ambulation, and respiratory and cardiovascular impacts that require lifelong care.

About POMBILITI + OPFOLDA

POMBILITI + OPFOLDA is a two-component therapy that consists of cipaglucosidase alfa-atga, a bis-M6P-enriched rhGAA that facilitates high-affinity uptake through the M6P receptor while retaining its capacity for processing into the most active form of the enzyme, and the oral enzyme stabilizer, miglustat, that is designed to reduce loss of enzyme activity in the blood.

Patient Support Accessing POMBILITI + OPFOLDA

To reach a BioMarin RareConnections® Case Manager, please call, toll-free, 1-866-906-6100 or email [email protected]. For more information about POMBILITI + OPFOLDA, please visit www.pombilitiopfolda.com. For additional information regarding these products, please contact BioMarin Medical Information at [email protected].

POMBILITI + OPFOLDA U.S. Indication and Important Safety Information

POMBILITI in combination with OPFOLDA is indicated for the treatment of adult patients with late-onset Pompe disease (lysosomal acid alpha-glucosidase [GAA] deficiency) weighing ≥40 kg and who are not improving on their current enzyme replacement therapy (ERT).

SAFETY INFORMATION

HYPERSENSITIVITY REACTIONS INCLUDING ANAPHYLAXIS: Appropriate medical support measures, including cardiopulmonary resuscitation equipment, should be readily available. If a severe hypersensitivity reaction occurs, POMBILITI should be discontinued immediately and appropriate medical treatment should be initiated. INFUSION-ASSOCIATED REACTIONS (IARs): If severe IARs occur, immediately discontinue POMBILITI and initiate appropriate medical treatment. RISK OF ACUTE CARDIORESPIRATORY FAILURE IN SUSCEPTIBLE PATIENTS: Patients susceptible to fluid volume overload, or those with acute underlying respiratory illness or compromised cardiac or respiratory function, may be at risk of serious exacerbation of their cardiac or respiratory status during POMBILITI infusion. See the full U.S. Prescribing Information for complete Boxed Warning. CONTRAINDICATION: POMBILITI in combination with OPFOLDA is contraindicated in pregnancy. EMBRYO-FETAL TOXICITY: May cause embryo-fetal harm. Advise females of reproductive potential of the potential risk to a fetus and to use effective contraception during treatment and for at least 60 days after the last dose. Adverse Reactions: Most common adverse reactions ≥ 5% are headache, diarrhea, fatigue, nausea, abdominal pain, and pyrexia. Please see U.S. full PRESCRIBING INFORMATION, including BOXED WARNING, for POMBILITI (cipaglucosidase alfa-atga) and full PRESCRIBING INFORMATION for OPFOLDA (miglustat).

About BioMarin

BioMarin is a leading, global rare disease biotechnology company focused on delivering medicines for people living with genetically defined conditions. Founded in 1997, the San Rafael, California-based company has a proven track record of innovation, with nine commercial therapies and a strong clinical and preclinical pipeline. Using a distinctive approach to drug discovery and development, BioMarin seeks to unleash the full potential of genetic science by pursuing category-defining medicines that have a profound impact on patients. To learn more, please visit www.biomarin.com.

Forward-Looking Statements

This press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including without limitation, statements about: the data to be presented at the 31st Annual Congress of the World Muscle Society (WMS), including the potential benefits and safety of POMBILITI + OPFOLDA in late-onset Pompe disease as well as of nivudirsen (BMN 351) for ambulatory boys ages 4 to 10 with Duchenne muscular dystrophy (DMD) amenable to exon 51 skipping; BioMarin's plans and expectations for the development of POMBILITI + OPFOLDA and nivudirsen; and BioMarin's estimate regarding the incidence of DMD. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others, results and timing of current and planned preclinical studies and clinical trials and the release of data from those trials; any potential adverse events observed in the continuing monitoring of the patients in the clinical trials; the content and timing of decisions by the U.S. Food and Drug Administration, the European Medicines Agency, the European Commission and other regulatory authorities; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, as such factors may be updated by any subsequent reports. Investors are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.

BioMarin®, BioMarin RareConnections®, POMBILITI® and OPFOLDA® are registered trademarks of BioMarin Pharmaceutical Inc. or its affiliates.

Contacts:

Investors

Media

Traci McCarty

Katherine Powell

BioMarin Pharmaceutical Inc.     

BioMarin Pharmaceutical Inc.

(415) 455-7558

(415) 827-2968

SOURCE BioMarin Pharmaceutical Inc.

AUSTIN, Texas--(BUSINESS WIRE)--In the third quarter, we produced over 464,000 vehicles, delivered over 486,000 vehicles and deployed 13.7 GWh of energy storage products.

Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve these results.

Q3 2026

Production

Deliveries

Subject to operating lease accounting

Model 3/Y

457,387

478,237

1

%

Other Models

7,004

8,295

4

%

Total

464,391

486,532

1

%

Tesla will post its financial results for the third quarter of 2026 after market close on Wednesday, October 21, 2026. At that time, Tesla will issue a brief advisory containing a link to the Q3 2026 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.

What: Tesla Q3 2026 Financial Results and Q&A Webcast
When: Wednesday, October 21, 2026
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q3 2026 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)

Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.

For additional information, please visit https://ir.tesla.com.

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Tesla vehicle deliveries and storage deployments represent only two measures of the Company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including average selling price, cost of sales, foreign exchange movements and others as to be disclosed in the 10-Q for the quarter ended on September 30, 2026. Vehicle production and delivery numbers represent passenger vehicles sold to customers.

Tesla TSLA stock is pushing higher on Friday morning after the electric vehicles (EV) behemoth posted a strong third-quarter delivery report.

The company delivered 486,532 vehicles in Q3, handily beating Street estimates of about 461,000 only, even as total volume slipped roughly 2.1% on a year-over-year basis.

Despite the post-data surge, however, Tesla shares remain down over 15% versus the start of this year (2026).

While Wall Street focuses on retail vehicle sales figures, famed investor Jim Cramer has a radically different thesis for buying TSLA stock.

On CNBC this morning, he argued that the ultimate growth catalyst for the EV firm is not strictly inside its automotive factories, but rather tied to billionaire Elon Musk’s aerospace and AI giant – SpaceX.

Following Tesla's conversion of its $2 billion xAI investment into a direct minority stake in SpaceX earlier this year, its shareholders have direct financial exposure to the space company.

Highlighting SPCX’s expanding infrastructure, Cramer pointed out that it has “massive” compute capacity, effectively renting out raw computing power and charging customers for compute access.

He envisions a scenario where SpaceX experiences an enormous “explosion in earnings,” boosting Tesla’s balance sheet and by extension, its share price over time.

Addressing Tesla’s recent delivery beat, Cramer acknowledged that traditional automotive drivers are re-evaluating electric mobility due to pain at the pump.

With global crude markets volatile and gasoline prices surging significantly across major domestic markets, consumers are increasingly viewing EVs as a budget-friendly escape from elevated fuel expenses.

Cramer noted that whenever gas prices push higher meaningfully, the perceived financial bargain of switching to an electric vehicle becomes obvious to prospective buyers.

This macro cost squeeze on combustion engine owners has provided a key tailwind for Tesla shares – helping drive delivery numbers beyond consensus estimates as cost-conscious commuters seek cheaper energy alternatives.

All in all, Cramer’s commentary underlines a shifting narrative around Tesla’s long-term valuation model.

While short-term delivery beats validate near-term consumer demand amidst high gas prices, the overarching bull case increasingly hinges on cross-company tech synergies, AI infrastructure, and energy ecosystem expansion.

Between Tesla’s growing energy storage deployments – which reached 13.7 GWh in Q3 alone – and its shared tech nexus with Musk's broader portfolio of compute-heavy ventures, the market is beginning to price TSLA less like a traditional automaker and more like a diversified tech empire.

For investors listening to Cramer, the delivery beat is merely a welcome bonus; the real long-term prize lies in the massive computational and technological expansion unfolding across Musk's entire industrial ecosystem.

Note that Wall Street also currently rates TSLA shares at Overweight.

Key Takeaways Mastercard is testing a tool that scores whether transactions were initiated by AI agents.Mastercard could use identity, fraud and transaction data to reduce unnecessary payment declines.Visa and PayPal are also developing tools and services for secure, AI-driven commerce. Mastercard Incorporated (MA - Free Report) is expanding Agent Pay with new trust and intelligence services designed to help banks and merchants assess AI-led transactions more accurately. The first tool, now entering U.S. testing, assigns a probability score indicating whether a transaction was initiated by an AI agent. Over time, the score will incorporate more data, helping banks and merchants make better-informed decisions about whether to approve a transaction.

This becomes more relevant as agentic commerce moves closer to mainstream adoption. Industry projections cited in the announcement suggest that one in 10 consumers could routinely use AI agents to make purchases by 2030. As AI agents make purchases across multiple merchants, their activity may look different from typical human transactions, increasing the risk of legitimate purchases being flagged as suspicious.

The opportunity also extends beyond payment authorization. Using identity, fraud and transaction data could help MA improve payment security, make better transaction decisions and reduce unnecessary declines. Partnerships with Cloudflare and Skyfire could provide more information to identify trusted agents and confirm the purpose of transactions.

The near-term earnings impact is likely limited, but the longer-term opportunity is clearer. Better transaction decisions could help reduce legitimate purchase declines and support payment volume growth. As AI agents become another way to make purchases, demand for fraud and security tools could create new opportunities for Mastercard’s value-added services.

How Are Competitors Faring?Some of MA’s competitors in the payment space are Visa Inc. (V - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) .

Visa is also building infrastructure for agentic commerce through its Visa Intelligent Commerce portfolio. Its offerings include Agent Scoring, an Agentic Registry and a Trusted Agent Protocol designed to verify AI agents and support secure transactions. This gives Visa a similar focus on trust and security as payment networks prepare for AI-initiated transactions.

PayPal is taking a more merchant-focused approach, offering agentic-commerce services that allow AI agents to discover products, manage shopping carts and complete purchases across online stores. This could expand PayPal’s role in AI-driven transactions as more merchants adopt agentic commerce.

Key Takeaways J&J expects Innovative Medicine to sustain above-market growth despite Stelara's loss of exclusivity.Oncology drugs Darzalex, Erleada, Carvykti, Tecvayli and Rybrevant/Lazcluze are expected to drive sales.New launches Inlexzo, Icotyde and Imaavy could add momentum, while Stelara and Imbruvica face pressure. Johnson & Johnson (JNJ - Free Report) markets a broad portfolio of blockbuster medicines through its Innovative Medicine segment, with treatments across areas including neuroscience, cardiovascular and metabolic diseases, immunology, oncology, pulmonary hypertension (PH) and infectious diseases. The company is scheduled to report its third-quarter 2026 results on Oct. 13, with investors expected to focus closely on the segment’s sales performance.

Here are some of the key factors that might have impacted Innovative Medicine’s sales during the quarter.

J&J expects continued above-market growth in the Innovative Medicine segment in the third quarter. The segment has recorded five consecutive quarters of sales of more than $15 billion despite the loss of exclusivity (LOE) of the blockbuster drug, Stelara, a trend likely to have continued in the third quarter of 2026.

J&J expects growth in the third quarter to have been driven by higher sales of key products such as Darzalex, Erleada, Carvykti, Tecvayli and Rybrevant/Lazcluze in oncology; Tremfya and other immunology products; and Spravato and Caplyta in neuroscience. Darzalex, Carvykti, Tecvayli and Rybrevant/Lazcluze are all benefiting from expanding use and additional indications.

Other products like Invega Sustenna/Xeplion/Invega Trinza/Trevicta, Uptravi and Opsumit are likely to have witnessed continued growth.

J&J also expects an increased contribution from newer launches in the third quarter than in the second quarter. J&J’s newly launched therapy, Inlexzo, delivered a strong second quarter, with sales more than doubling sequentially from the first-quarter number of around $30 million. Sales comfortably exceeded consensus expectations, although J&J did not disclose the exact sales figure. Sales are expected to be sequentially higher in the third quarter as the launch is expected to have gained momentum in the United States, supported by permanent J-code reimbursement.

Investors will look out for initial sales numbers of JNJ’s newly launched oral pill for plaque psoriasis, Icotyde, as well as new drug Imaavy for generalized myasthenia gravis. On the second-quarter conference call, J&J had said that it was seeing strong launches for both these new drugs. An update is expected on the third-quarter conference call. Imaavy was approved for its second indication, warm autoimmune hemolytic anemia (wAIHA), in the United States in August.

However, sales of Simponi/Simponi Aria and Remicade declined in the second quarter, a trend likely to have continued in the third quarter.

Also, generic/biosimilar competition for key drug, Stelara, and lower sales of Imbruvica are likely to have hurt top-line growth.

Sales of Stelara are likely to have declined due to the impact of biosimilar competition.

According to patent settlements and license agreements, Amgen (AMGN - Free Report) ,Teva Pharmaceutical Industries, Samsung Bioepis/Sandoz and some other companies launched Stelara biosimilars in 2025 after the drug lost patent exclusivity in the United States. Stelara’s LOE negatively impacted the Innovative Medicines segment’s growth by 760 basis points in the second quarter. We expect the negative impact to be steeper in the third quarter of 2026.

Biosimilars for Simponi entered the European market in the second quarter of 2026, while a generic version of Opsumit entered the U.S. market late in the second quarter, which may have hurt sales of these drugs in the third quarter.

Imbruvica sales are likely to have declined due to rising competitive pressure in the United States from new oral competition.

Overall, Innovative Medicine is expected to have been J&J's principal growth engine in the third quarter, with oncology providing the strongest contribution. Tremfya is likely to have continued building momentum in immunology and help offset Stelara's biosimilar-driven decline.

J&J Key CompetitorsImmunology and oncology are J&J’s key areas. Other large drugmakers with a strong presence in the oncology market include Novartis, AstraZeneca (AZN - Free Report) , AbbVie (ABBV - Free Report) , Amgen, Merck, Bristol-Myers, Roche and Pfizer. In immunology, AbbVie, Amgen, Sanofi, AstraZeneca and Pfizer hold a strong position.

DETROIT — Ford Motor retained its No. 3 U.S. sales position during the third quarter by a narrow margin over Hyundai Motor, which had been forecast to overtake the Detroit automaker.

Ford on Friday reported a year-over-year sales decline of 6.6% during the third quarter to 507,395 light-duty vehicles. That figure excludes its largest heavy-duty trucks, which are classified differently.

That compares to the South Korean automaker, including Hyundai, Kia and Genesis brands, reporting a 5.4% increase to 506,200 vehicles during the quarter.

Both companies performed better than expected. A forecast last week by Cox Automotive had called for Hyundai to overtake Ford in quarterly sales for the first time.

Hyundai, including its luxury Genesis brand and corporate sibling Kia, has been making major inroads in the U.S. this year. Ford, meanwhile, has struggled with production of its crucial F-Series pickup trucks after two supplier fires last year that disrupted production and sales.

Auto sales and deliveriesFord fends off Hyundai to retain No. 3 U.S. sales position in third quarterTesla reports 486,532 vehicle deliveries for third quarter, topping expectationRivian tops Q3 delivery expectations, reconfirms 2026 guidanceGM Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybridsFord retains a roughly 89,700-unit sales lead for the year over Hyundai through the third quarter, according to data reported this week by the companies.

Ford on Friday downplayed Hyundai's proximity in sales, citing Kia and Hyundai brands operating separately in the U.S. despite having a corporate parent.

In addition to the F-Series production problems, Ford's year-over-year sales comparisons have been tough due to the discontinuation of vehicles such as the Ford Escape.

Rob Kaffl, Ford's head of U.S. sales, said Friday that sales and inventories of F-Series pickups, including its F-150, continued to improve during the quarter.

"Some of the headwinds we had early in the year are kind of behind us, and it's really setting us up for a really strong Q4 as we move in," Kaffl said during a media call.

F-Series sales were only off 1.9% during the third quarter, including a 97.1% decline of the discontinued F-150 Lightning electric pickup truck.

The Detroit automaker's Ford brand was off roughly 6% during the quarter, while its luxury Lincoln brand was down 18%.

Ford's year-over-year EV sales were off 67.5% through September, including a roughly 80% decline during the third quarter. The automaker is also facing tough comparisons in that category, as it reported record EV sales during the same period last year as demand spiked ahead of the Trump administration ending up to $7,500 in federal incentives for consumers to purchase an electric vehicle. 

BlackRock's stock has slumped over the past four weeks, mirroring the performance of other private credit players such as Blue Owl, Apollo Global, and Blackstone. The shares peaked at $1,180 in August and have since fallen by nearly 10% from that high. Despite the pullback, the company's strong fundamentals could support a rebound.

BlackRock has grown into the biggest asset manager in the world with over $15.3 trillion in assets under management. Its growth has accelerated in the past few years since crossing the $10 trillion milestone in 2021.

Part of this growth was because of its large acquisitions, including Global Infrastructure Partners (GIP), HPS, and ElmTree Funds. Its HPS buyout made it a big player in the private credit industry, where it has over $197 billion in assets. 

The buyout, however, happened as investors were souring on the private credit industry as interest rates soared. For example, investors in a fund with $23 billion in assets pulled about 11.5% in the third quarter. On the positive side, there are signs that the redemption trend is easing. 

The last earnings report showed that its revenue growth was accelerating. It added over $868 billion in net inflows in the previous 12 months. Its first half of the year had over $321 billion in inflows, driven by ETFs, private markets, and fixed income. 

This growth pushed its revenue and profits higher. Total revenue rose by 31% to $7.05 billion, while its operating income soared by 42% to $2.4 billion. These numbers mean that BlackRock is still a growth company despite being in the business for years. 

The next important catalyst for BlackRock's stock price will be its upcoming earnings, which will come out on October 14th. 

Analysts believe the results will show that its growth continued in the third quarter. In this case, the revenue is expected to come in at $7.55 billion, up by 16% from a year earlier. 

The earnings-per-share is also expected to jump from $11.55 to $14.25. Historically, BlackRock has always done better than expected, meaning that its revenue will likely be better than expected. 

BlackRock has also become relatively undervalued, with the forward price-to-earnings ratio moving to 18.8, lower than the S&P 500 average of 19. These reasons explain why analysts are largely bullish on the company, with the average estimate being $1,304, up by 22% from the current level.

BLK stock chart | Source: TradingView

The daily chart shows that BLK stock formed a double-top pattern at $1,180 and a neckline at $1,133. This pattern often leads to a bearish reversal, which explains why it slumped to $1,017. 

The stock has held steady above the 200-day Exponential Moving Average (EMA) and is along the 38.2% Fibonacci Retracement level. It has formed a falling wedge pattern, which is made up of two falling and converging trendlines. 

Therefore, the stock will likely have a bullish breakout, potentially to the key resistance level of $1,150.

Key Takeaways Rigetti will supply PSC a 9-qubit Novera system for hybrid quantum-HPC testing, with deployment due in 2027.Rigetti sees 50-60 nanosecond gate speeds as key to complementing CPUs and GPUs in hybrid computing.Rigetti delivered two 9-qubit systems to commercial customers in 2026 as it pursues a 1,000-qubit roadmap. Rigetti Computing (RGTI - Free Report) is increasingly positioning its superconducting quantum computing technology for integration into high-performance computing (HPC) environments. A key development is the company's expanded collaboration with Hewlett Packard Enterprise (HPE - Free Report) and the Pittsburgh Supercomputing Center (“PSC”), under which Rigetti will provide a full 9-qubit Novera quantum computing system for PSC's TangleLab test bed. The system is expected to combine Rigetti's quantum processor, refrigeration and control infrastructure with Hewlett Packard’s HPC environment, allowing researchers and industry users to develop and test hybrid quantum-classical workloads. Rigetti expects the deployment in 2027. Management views the initiative as an important step toward moving its relationship with Hewlett Packard from early experimentation to commercially relevant quantum-enabled HPC solutions.

The hybrid computing opportunity is particularly relevant to Rigetti's strategy because the company believes its superconducting architecture can provide the processing speed needed to work alongside conventional CPUs and GPUs. Management cited gate speeds in the 50-60 nanosecond range and highlighted the potential for faster quantum processing to complement classical computing in workloads where quantum acceleration can reduce time to results or improve computational capabilities.

Beyond the collaboration with HPE, Rigetti is also seeing increasing interest from commercial organizations. The company delivered its first two 9-qubit systems in 2026 to commercial customers for research purposes. While these deployments do not yet represent production quantum workloads, the broader customer mix suggests that commercial engagement is beginning to develop alongside government and university demand.

With Rigetti continuing to improve the fidelity of its 108-qubit Cepheus system and pursuing a chiplet-based roadmap toward approximately 1,000 qubits, the company's strategy is increasingly centered on building the infrastructure and partnerships needed to support broader quantum adoption as the technology advances.

Peers UpdatesQuantum Computing Inc. (QUBT - Free Report) recently signed a three-year Framework Agreement with Hamad Bin Khalifa University in Qatar to collaborate on quantum computing, quantum sensing and quantum communications initiatives. The partnership will support joint academic research, executive education programs, industry-focused projects, quantum application development and co-marketing efforts aimed at accelerating quantum technology adoption across Qatar and beyond. The companies also plan to develop practical quantum solutions for real-world challenges while helping cultivate the next generation of quantum talent and leadership.

IonQ (IONQ - Free Report) recently announced a contract with Florida International University (“FIU”) to deliver and install a Superion 256-qubit trapped-ion quantum computer on the university's campus. The agreement marks the first sale and deployment of a Superion 256 system in Florida and establishes FIU as IonQ's flagship academic partner in the state, creating a hub for quantum research, education and workforce development. The on-campus deployment is expected to provide FIU's faculty, students and regional industry partners with direct access to advanced quantum computing capabilities, while FIU's engagement with federal agencies could support research initiatives spanning sensing, cryptography, commercialization and workforce development.

The partnership strengthens IonQ's presence in the academic quantum ecosystem and expands physical access to its hardware, potentially supporting broader adoption and talent development in the region.

Key Takeaways AbbVie adds Juvmo to its Parkinson's portfolio, offering standalone and combination treatment options.Juvmo is the first selective D1/D5 dopamine receptor agonist approved for Parkinson's disease.AbbVie expects its three Parkinson's therapies to represent a peak-sales opportunity above $5 billion. AbbVie (ABBV - Free Report) continues to expand its neuroscience franchise. The company recently secured FDA approval for Juvmo, a once-daily oral treatment for Parkinson’s disease (PD). A commercial launch is targeted for October 2026.

Juvmo Expands AbbVie’s Neuroscience PortfolioJuvmo is a potentially important addition to AbbVie’s PD portfolio, given its differentiated mechanism and broad treatment positioning. The drug is the first selective D1/D5 dopamine receptor agonist that can be used both as a standalone treatment and in combination with levodopa, the current standard of care for PD symptoms. This provides physicians another option for managing motor symptoms as the disease progresses and could help address the limitations associated with increasing reliance on levodopa.

Juvmo’s approval further expands AbbVie’s PD portfolio, which already includes Vyalev and Duopa. PD has emerged as a new pillar of the company’s neuroscience franchise, with management expecting the three therapies to collectively represent a peak-sales opportunity of more than $5 billion.

The neuroscience segment is one of AbbVie’s fastest-growing therapeutic areas. It now accounts for nearly a fifth of the company’s overall topline and generated $6.1 billion in revenues in the first half of 2026. Revenues from neuroscience drugs rose 22% year over year, driven by broad-based growth across the marketed portfolio. The company currently expects to record approximately $12.7 billion in neuroscience revenues in 2026.

The approval could also provide a commercial payoff from AbbVie’s acquisition of Cerevel Therapeutics for approximately $8.7 billion in 2024. The deal came under pressure after emraclidine, one of its key assets, failed in two registration-enabling phase II studies in schizophrenia, prompting AbbVie to record a $3.5 billion impairment charge. With Juvmo now approved, its commercial performance could become an important part of the value story behind the Cerevel acquisition.

ABBV’s Competition in the Neuroscience SpaceOther bigger players in the neuroscience space include Biogen (BIIB - Free Report) and Johnson & Johnson (JNJ - Free Report) .

As revenues from its legacy multiple sclerosis portfolio continue to decline, Biogen is increasingly focused on expanding its neuroscience business through newer therapies. Along with partner Eisai, Biogen markets Leqembi, one of the two FDA-approved treatments for AD. The company also markets Zurzuvae, the first FDA-approved oral treatment for postpartum depression.

JNJ's neuroscience business is anchored by the depression therapy Spravato and the long-acting antipsychotic Invega Sustenna. The company's acquisition of Intra-Cellular Therapies last year further strengthened its portfolio by adding Caplyta, an approved treatment for schizophrenia and bipolar depression.

Aave Takes Aim at MiCA's Intermediary GapAave Labs has submitted formal recommendations to the European Commission as part of its ongoing review of the Markets in Crypto-Assets Regulation (MiCA). The protocol is pushing for a regulatory approach that focuses on intermediaries rather than open-source financial software, a distinction it argues is essential to preserving the integrity of decentralised finance.

The submission feeds into a targeted consultation the Commission launched in May 2026 to examine whether MiCA remains fit for purpose. The review covers stablecoin rules, DeFi, staking and lending, with a Commission report to the European Parliament due by June 2027.

Aave argues that MiCA was designed for an earlier generation of the crypto market, one dominated by centralised issuers and custodians. It believes Europe now has an opportunity to modernise the framework to reflect newer financial infrastructure built on open, permissionless protocols.

Self-Custody and Euro Stablecoin CompetitivenessAmong its specific requests, Aave is calling for stronger protections for self-custody and for the preservation of lending returns under euro stablecoins. The protocol also wants euro stablecoins to be given room to compete globally, which it says will require more flexible reserve and liquidity requirements than those currently prescribed under MiCA.

The intervention comes at a busy moment for the review. The European Securities and Markets Authority published its own response on 30 September 2026, proposing targeted amendments covering DeFi, stablecoins, staking, and lending and borrowing. The European Banking Authority has separately recommended that crypto lending and DeFi access be brought further into MiCA's scope, a position that sits in direct tension with Aave's push to keep software itself outside the regulatory perimeter.

Aave's message to Brussels is straightforward: regulate the intermediaries who sit between users and protocols, not the code that powers them. Whether the Commission agrees will shape how DeFi operates across the EU for years to come.

Sources:
Coinfomania: Aave Labs Submits Response to European Commission's MiCA
ESMA: ESMA Calls for Changes to Make MiCA Clearer, Safer and Ready for Emerging Services
Skadden: Fit for Purpose? European Commission Launches Review of MiCA

Aave founder Stani Kulechov has released a statement expressing disappointment with the European Central Bank (ECB) and European Banking Authority (EBA)’s responses to the Markets in Crypto-Assets (MiCA) consultation. He noted that the two authorities not only advocate banning yields on stablecoin payments, but also propose restricting crypto asset service providers (CASPs) from granting users access to decentralized finance (DeFi) channels—including yield protocols involving stablecoins not authorized under MiCA—without clarifying a concrete implementation framework. Kulechov added that the proposals suggest limiting DeFi user access via so-called "appropriateness tests" and are considering introducing a certification system for DeFi lending protocols. He argued that if regulators decide which protocols are suitable for European users, it could lead to more closed DeFi ecosystems, eroding the open finance network’s liquidity and network effects. Stated Kulechov, excessive restrictions could increase barriers to innovation and slow the development of open, transparent, and auditable financial infrastructure. He believes stablecoins, DeFi, and tokenized securities have the potential to reduce frictions in financial services, enhance transparency, and expand users’ access to financial opportunities, calling on European regulators to place users and their interests at the core of the regulatory framework. Finally, he concluded: “DeFi will ultimately prevail.”

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Palantir just posted its ninth consecutive earnings beat and revenue growth that left Wall Street scrambling to revise its models upward, yet the stock still sits 9% below its peak. Whether that gap is an opportunity or a warning depends…

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Our 24/7 Wall St. price target for Palantir Technologies (NASDAQ:PLTR | PLTR Price Prediction) is $202.14 over the next 12 months. With shares at $188.77, that means 7.1% upside. Our model rates Palantir a buy with high confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $188.77 Price Target from 24/7 Wall St. $202.14 Upside 7.1% Recommendation BUY Confidence Level 90% That target sits above the Wall Street consensus of $195.57. Management raised full-year revenue guidance to $8.150 billion to $8.158 billion, representing 82% growth. The question is whether growth can outrun a valuation that already prices in significant upside.

A Second-Quarter Earnings Beat Sparked a Sharp Rebound Palantir traded near $123.06 on August 1. A week later it was at $172.01, after the August 3 earnings report. Shares are up 6.2% year to date and 1.28% over the past month, but down 1.57% this week. The stock sits 9% below its 52-week high of $207.52 and 77% higher than its low of $106.37.

Second-quarter EPS of $0.41 exceeded the $0.28 estimate, Palantir’s ninth consecutive beat. Revenue reached $1.935 billion, up 92.83%. U.S. commercial revenue grew 149% to $764 million. CEO Alex Karp called the quarter “otherworldly,” pointing to a Rule of 40 score of 155%.

Why Bulls See $219 and Beyond In the forward pipeline, U.S. commercial total contract value rose 153% to $2.132 billion, and remaining deal value climbed 124% to $6.238 billion.

The 2027 EPS consensus has risen to $2.3267 from $2.0821 90 days ago, with 26 upward revisions and zero cuts in 30 days. If AI sovereignty demand speeds up, the bull case reaches $219.29.

A Premium Valuation Leaves Little Room for a Stumble Palantir trades at 160x trailing earnings and 73x sales. Its government contracts can be ended for convenience, and stock-based compensation reached $265 million last quarter. Our bear case is $170.22. Even so, GAAP operating margin reached 47% after those compensation costs, so profitability already covers the dilution.

Palantir Outgrows CrowdStrike, Snowflake and ServiceNow CrowdStrike (NASDAQ:CRWD) is in the same software-infrastructure industry and also carries a premium for AI exposure. The stock changes hands at 208x forward earnings on 25.8% revenue growth.

Also competing with Palantir for enterprise data and AI workloads is Snowflake (NYSE:SNOW), yet its 169x forward multiple comes with 35.1% growth.

ServiceNow (NYSE:NOW) is the value contrast, trading at 28x forward earnings on 24% growth.

Company Forward P/E Quarterly Revenue Growth YoY Palantir 85x 92.8% CrowdStrike 208x 25.8% Snowflake 169x 35.1% ServiceNow 28x 24% Palantir is growing several times faster than its high-multiple peers and trades at a lower forward multiple than both. Measured against that group, our 24/7 Wall St. price target looks reasonable and even conservative.

Palantir Earns Its Premium, and the Upside Is Still Building The 24/7 Wall St. price target of $202.14 comes with a buy rating and 90% confidence. What tips the scale is the steady stream of upward earnings revisions.

The case gets stronger if U.S. commercial growth stays above 100% and the third quarter beats the $2.160 billion to $2.164 billion revenue guide. It weakens if deal momentum slows while the multiple stays extended. For now, growth is exceeding the valuation.

Palantir Price Prediction 2026-2030 Looking further ahead, here is where our model projects Palantir could trade at each year’s end, assuming current growth trends and market conditions hold.

Year Price Target from 24/7 Wall St. 2026 $190.18 2027 $204.33 2028 $212.81 2029 $236.20 2030 $251.97 Palantir’s continued execution on its AIP-led commercial expansion supports these projections. Sovereign AI demand could drove results well above this path, while a drop in government spending could pull them below it.

Contact [email protected] for any questions or corrections.

Key Takeaways BMY's Camzyos sales surged 74% year over year to $729 million in the first half of 2026.Camzyos now has the broadest indication among cardiac myosin inhibitors, including pediatric oHCM patients.CYTK's Myqorzo and EWTX's EDG-7500 could increase competitive pressure on BMY's cardiovascular franchise. Bristol Myers Squibb (BMY - Free Report) is banking on label expansion of existing drugs and approval of new drugs to further propel its growth portfolio.

Camzyos (mavacamten) is one of the key drugs in this product portfolio. The drug is currently approved in the United States for adults with symptomatic New York Heart Association (“NYHA”) class II-III obstructive hypertrophic cardiomyopathy (oHCM) to improve symptoms and functional capacity.

It continued to gain traction in the targeted market in the first half of 2026, supported by growing demand and increased adoption among eligible patients. Sales of the drug surged 74% year over year to $729 million in the first half.

The FDA recently approved the drug for the treatment of symptomatic oHCM to improve functional capacity and symptoms in adults and pediatric patients weighing 30 kg (66 lbs) or more.

Consequently, Camzyos now has the broadest indication of any cardiac myosin inhibitor (CMI). It is the only FDA-approved therapy for the treatment of oHCM in a pediatric population.

The approval was based on positive results of phase III SCOUT-HCM study, building on the extensive clinical evidence for Camzyos in adults with oHCM.

For Bristol Myers, continued growth from Camzyos is particularly important as the company works to offset revenue pressures from patent expirations affecting legacy drugs.

BMY’s cardiovascular portfolio also includes blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis remains one of the biggest contributors to the company’s top line.

Bristol Myers’ cardiovascular pipeline includes milvexian, an investigational oral, highly selective factor XIa (FXIa) inhibitor.

The candidate, developed in collaboration with Johnson & Johnson, is being evaluated in two late-stage studies — Librexia AF for atrial fibrillation (AF) and Librexia STROKE for secondary stroke prevention (SSP).

Data from the LIBREXIA-STROKE study is expected in 2026, while results from the Librexia AF study are expected in the first quarter of 2027.

However, the cardiovascular portfolio suffered a setback in late 2025 after the company decided to discontinue the late-stage Librexia study on milvexian.

BMY and partner Johnson & Johnson were evaluating the efficacy and safety of milvexian when added to standard of care (conventional antiplatelet therapy) for patients following an acute coronary syndrome event.

Both companies decided to discontinue the phase III Librexia ACS study following a preplanned interim analysis by the Independent Data Monitoring Committee, which determined that the study was unlikely to meet its primary efficacy endpoint.

Competition for BMY’s CamzyosCytokinetics (CYTK - Free Report) became a direct competitor to Bristol Myers Squibb in the oHCM market after securing FDA approval for Myqorzo (aficamten) in December 2025. As Cytokinetics’ first approved product, Myqorzo marks its transition to a commercial-stage company and gives investors a new challenger in the CMI market.

While Camzyos benefits from an established commercial presence and extensive clinical and real-world data, Myqorzo’s initial uptake has been encouraging and could gradually increase competitive pressure on BMY’s cardiovascular franchise.

Cytokinetics recently announced the launch of ASPEN-HCM, a prospective, multicenter observational study designed to evaluate the real-world use of Myqorzo in adults with symptomatic oHCM.

A potential competitor is Edgewise Therapeutics, Inc. (EWTX - Free Report) , which is advancing a cardiovascular pipeline targeting HCM, heart failure, and other cardiovascular and cardiometabolic conditions.

EWTX’s lead candidate, EDG-7500, is a novel, oral, selective cardiac sarcomere modulator currently being studied in a multi-part phase II study in patients with oHCM and nHCM, with a phase III program targeted to be initiated in the fourth quarter of 2026.

EWTX’s pipeline also includes EDG-15400 for heart failure. The company expects to initiate a phase II study on EDG-15400 in participants with heart failure with preserved ejection fraction.

Key Takeaways ISRG faces China pressure from weak tenders, domestic competition and pricing, with just two systems placed.ISRG gained da Vinci 5 clearance in India, supporting demand across a broad range of procedures.ISRG placed 25 systems in Japan versus 15 a year ago as new reimbursement policies supported robotic use. Intuitive Surgical’s (ISRG - Free Report) geographical growth story is becoming increasingly diversified, with strong momentum in India and improving conditions in Japan helping counterbalance challenges in China. In the second quarter, international da Vinci procedures increased 20%, while Europe and Asia delivered 20% growth each.

China remains the primary regional headwind for ISRG. Management cited lower tender activity, increased domestic robotic competition and policy-driven pricing pressure, alongside changes in charge codes and the 15th Five-Year Plan quota process. System placements were particularly weak, with only two da Vinci systems placed in China during the quarter. Da Vinci 5 is yet to receive clearance in mainland China.

India, meanwhile, is emerging as an important growth market. Management described another strong quarter, with momentum across a broad range of procedures. The clearance of da Vinci 5 in India during the quarter should expand Intuitive Surgical’s ability to address demand with its latest-generation platform. International procedure growth also highlighted India as one of the markets delivering strong results.

Japan offers another potential growth avenue. Policies effective June 1 expanded reimbursement to additional robotic procedures and introduced economic incentives for higher utilization. Intuitive Surgical placed 25 systems in Japan versus 15 a year earlier, while management said recent reimbursement decisions were encouraging. However, adoption is expected to progress gradually, given training requirements and ongoing financial challenges.

China remains a meaningful uncertainty, but India, Japan and other international markets provide diversification. Intuitive Surgical maintained its 2026 da Vinci procedure growth outlook of 13.5-15.5%, with international procedures outside urology among its primary growth drivers.

Peer UpdatesBoston Scientific (BSX - Free Report) is broadening its Asian growth base. Unlike ISRG, China remains a key international market for Boston Scientific. Asia-Pacific revenues increased 11% operationally, led by double-digit growth in Japan, China and Korea, with Interventional Cardiology, Electrophysiology and WATCHMAN driving regional performance.

International EP sales increased 23%, and management expects approximately 20% international EP growth for full-year 2026, providing an important growth avenue outside any single market. Japan represents a clearly identified diversification opportunity within Asia for Boston Scientific.

Medtronic (MDT - Free Report) is also expanding in Asia, primarily through Japan. International revenues grew 12%, supported by several businesses delivering double-digit international growth. Within Cardiac Ablation Solutions, Medtronic management highlighted geographic expansion, noting that Sphere-9 was launching in Japan, alongside continued ecosystem development across mapping, ICE technology and ablation. Medtronic is also expanding its international robotics portfolio through a strategic investment and distribution agreement for Cornerstone’s Sentire Surgical System in select markets outside the United States.

Eli Lilly just posted a 47.7% revenue surge while rivals like Novo Nordisk are watching earnings fall, and a fresh pipeline catalyst could push Lilly toward a valuation Wall Street has only seen from two companies in history.

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Eli Lilly (NYSE:LLY | LLY Price Prediction) trades at $1,184.92, which gives it a market value of about $1.057 trillion. The 24/7 Wall St. price target for Eli Lilly is $1,401.42 over the next 12 months. That means 18.27% upside and earns a high-confidence buy rating from our model.

24/7 Wall St. Price Target Summary Metric Value Current Price $1,184.92 Price Target from 24/7 Wall St. $1,401.42 Upside/Downside 18.27% Recommendation BUY Confidence Level 90% If shares hit our target, Lilly would be worth about $1.25 trillion. A $2 trillion valuation would take a share price near $2,243 on today’s share count. It sits above our base-case 2031 milestone of $2,000.56, so the headline goal depends on the pipeline outperforming.

A Blowout Q2 and Fresh Retatrutide Data Keep Lilly Near Its Highs Shares have gained 1.21% over the past week, 10.74% year to date and 64.04% over the past year. The stock sits 8.3% below its 52-week high of $1,292.65.

Second-quarter revenue of $22.97 billion rose 47.7% and beat the $20.69 billion consensus. EPS of $8.38 exceeded the $6.58 estimate even after $3.03 of acquired IPR&D charges. Management also raised full-year revenue guidance to $85 billion to $87 billion.

September added to the momentum. The FDA approved Onswik, a once-weekly insulin, on September 24. At the EASD meeting, Lilly presented new retatrutide results and a comparison in which Foundayo beat oral semaglutide.

Why Bulls See $1,460 and Beyond Lilly plans to file retatrutide in Q1 2027, after trial patients lost up to 71.2 lbs. Foundayo prescribers rose to about 36,000, and a global rollout is planned for 2027.

Medicare’s GLP-1 Bridge Program opened coverage to 20 million eligible Americans. Analysts expect 2027 EPS of $47.5425, up from $44.4568 90 days ago. The consensus target is $1,328.83. Our bull case hits $1,460.67, or 23.27% upside.

Falling GLP-1 Prices Could Stall the Rally Excluding rebate adjustments, U.S. prices fell 9% last quarter. Mounjaro and Zepbound brought in $14.9 billion, most of Lilly’s revenue. Generic semaglutide is now on sale in India and Brazil, and the retatrutide filing pathway faces litigation. One analyst rates the stock Sell and another Strong Sell.

The bear case of $1,191.31 suggests little gain from here. On the other side, the IPR&D charges come from acquisitions and do not repeat. Volume growth also more than made up for lower prices.

Lilly Earns Its Premium Over Novo Nordisk, Merck and AbbVie Novo Nordisk (NYSE:NVO) is Lilly’s direct GLP-1 rival. It trades at 12x forward earnings, but quarterly earnings fell 20.6%. Merck (NYSE:MRK) shows what a mature pharma multiple looks like. AbbVie (NYSE:ABBV) competes with Lilly in immunology.

Company Forward P/E Quarterly Revenue Growth Eli Lilly 24x 47.7% Novo Nordisk 12x 2.1% Merck 15x 5.1% AbbVie 16x 10.2% Lilly is growing revenue several times faster than any of these peers. That growth supports its higher multiple and makes the 24/7 Wall St. price target look reasonable.

Lilly Still Has Room to Run The 24/7 Wall St. price target of $1,401.42 carries a buy rating and high confidence. What tips the scale is rising earnings estimates.

Bulls stay in control if volume continues outpacing price cuts and retatrutide files on schedule. Bears take over if U.S. price declines grow faster than prescriptions. Right now, the growth numbers favor the bulls.

Here is where our model projects Lilly trading if current growth trends and market conditions hold.

Year Price Target from 24/7 Wall St. 2026 $1,233.89 2027 $1,406.11 2028 $1,583.87 2029 $1,748.51 2030 $1,889.79 These projections assume Lilly continues executing its current strategy. Retatrutide’s approval or faster GLP-1 price erosion could drive results well above or below this path.

Contact [email protected] for any questions or corrections.

Broadcom stock AVGO gained more than 2.7% in trading on Friday as Wall Street banks prepared a potential $60 billion financing package for artificial intelligence chip infrastructure.

Bloomberg News reported that banks in Broadcom Inc.'s syndicate are preparing to market $42 billion of Class A senior-secured debt, while Blackstone is leading an additional $18 billion tranche of Class B junior debt.

The financing has been taking shape for several weeks, according to people familiar with the matter.

The potential deal is being closely watched as investors assess whether financial markets remain willing to fund the rapid expansion of AI infrastructure.

Broadcom is seeking to expand its sales of chips and other data-centre equipment as AI companies such as Anthropic require increasing computing capacity.

Banks involved in the deal are expected to send syndication letters for the $42 billion Class A senior-secured tranche, according to Bloomberg's sources.

Blackstone is leading the $18 billion Class B junior debt tranche and has committed $9 billion from various funds, with plans to syndicate the remainder.

The potential financing could help companies including Anthropic gain access to chips and other infrastructure needed to expand their AI operations.

Reuters reported on Thursday that Anthropic's IPO filing showed Broadcom had agreed to lend the AI company up to $42 billion to finance infrastructure spending.

The proposed package adds to the hundreds of billions of dollars already raised to finance AI infrastructure.

While much of that funding has gone towards data centres, financing for chips and servers has also increased.

Nvidia announced a partnership with six major financial firms in August to mobilise more than $500 billion for AI infrastructure, including financing to help customers purchase its chips.

UBS maintains Buy rating on BroadcomBroadcom also received continued support from UBS, which reiterated its Buy rating and maintained a $470 price target following a virtual non-deal roadshow with Chief Executive Officer Hock Tan and Chief Financial Officer Kirsten Spears.

UBS analyst Timothy Arcuri said the firm saw a strong upward bias to Broadcom's fiscal 2027 and 2028 AI revenue guidance following discussions with management.

Broadcom's revenue increased 49% over the 12 months through the third quarter of fiscal 2026, while analysts are forecasting 66% revenue growth for fiscal 2026.

Arcuri also said investor concerns surrounding Broadcom's flagship TPU programme were misguided.

Broadcom said engagement remains strong for the next two generations of its XPU programme following the v8i ramp in 2027.

Broadcom said it is adding more SRAM and ARM CPU cores to its XPU devices for orchestration and management, increasing the complexity of the chips and making them more difficult for in-house design teams to replicate, according to UBS.

On financing for its initial frontier-lab customer, Broadcom said it "sells chips, not financial products" and is not providing direct financing. Instead, the company is contributing to a platform that allows the customer to access third-party lenders.

Broadcom is providing residual-value guarantees only for selected tranches, which management described as a small fraction of the overall financing.

UBS said the comments were consistent with previous discussions and maintained its estimates and $470 price target.

With a $470 target price, traders tracking the stock's momentum often turn to top online trading platforms to monitor price action around major financing and partnership news.

PANews reported on October 2 that SMBC Nikko Securities announced on October 2 that it has signed a memorandum of understanding to develop a decentralized finance (DeFi) platform, "DeFi Gateway," for Japanese investors. Participants include blockchain development firm Nethermind, Uniswap Labs, the general incorporated association Nyx Foundation, and Coinbase Technologies, which operates the Ethereum Layer 2 network Base. The project will develop a liquidity provision protocol and proprietary liquidity pools while complying with Japanese laws and regulations, with the parties aiming to complete development by mid-2027.

The collaboration centers on three main development efforts: first, building "agentic vaults" using verifiable and reproducible AI, along with an intuitive user interface; second, leveraging Uniswap v4's Hooks feature to build an open framework for compliant liquidity pools with built-in anti-money laundering and counter-terrorism financing (AML/CFT) and investor protection mechanisms; and third, developing asset management strategies covering digital assets such as stablecoins and real-world assets (RWA).

The project is jointly led by SMBC Nikko Securities and Nethermind. SMBC Nikko Securities leads communication with regulators and provides compliance, risk model, and portfolio management expertise; Nethermind is responsible for technical design and development, including AI strategy and integration, smart contract security, and automated market making and Uniswap v4 Hooks strategies.