Cycurion oznámila, že znovu splnila požadavek Nasdaq na minimální nabídkovou cenu 1,00 USD za akcii. Po reverzním splitu 1:8 držela nabídková cena nad 1,00 USD deset po sobě jdoucích obchodních dnů.
MCLEAN, Va., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Cycurion, Inc. (NASDAQ: CYCU) (“Cycurion” or the “Company”), a leading AI-driven, tech-enabled cybersecurity solutions provider, today announced that it has received a letter, dated October 1, 2026, from the Hearings Office of The Nasdaq Stock Market LLC confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(1), the minimum bid price requirement of $1.00 per share, as required by the Nasdaq Hearings Panel’s decision letter dated September 9, 2026.
The October 1 letter confirms that the Company has regained compliance with Listing Rule 5550(a)(1). Nasdaq staff’s compliance worksheet, referenced in the letter, states that on August 28, 2026 the Company effected a 1-for-8 reverse stock split and that, since then, the Company’s bid price has closed above $1.00 for 10 consecutive trading days. The Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol CYCU.
The September 9, 2026 Panel decision granted the Company’s request for continued listing subject to demonstrating bid-price compliance on or before September 11, 2026. The October 1 letter confirms that condition has been met.
In application of Listing Rule 5815(d)(4)(A), the Company will be subject to a Discretionary Panel Monitor for one year from October 1, 2026, through October 1, 2027. If the Company fails to maintain compliance with any continued listing requirement during that period, Nasdaq staff will issue a delist determination letter, and the Company will not be permitted to submit a plan of compliance or receive additional time from staff to regain compliance. The Company may request a hearing, which the Nasdaq Hearings Department would promptly schedule. The Hearings Panel will consider the Company’s compliance history in any such decision.
“Nasdaq’s letter confirms that we met the bid-price condition in the Panel’s decision,” said Kevin Kelly, Chairman and Chief Executive Officer of Cycurion. “The common stock continues to trade on Nasdaq. We understand the monitor, and meeting Nasdaq’s listing standards has been, and remains, a priority for the Company.”
About Cycurion, Inc.
Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity and AI solutions, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients committed to securing the digital future. More info: www.cycurion.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Such statements include, but are not limited to, the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including during the Discretionary Panel Monitor period through October 1, 2027; the continued listing and trading of the Company’s common stock on the Nasdaq Capital Market; the operations and prospective growth of the Company’s business; and other statements that are not historical facts, including statements which may be accompanied by words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Cycurion and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, the Company’s ability to maintain a closing bid price of at least $1.00 per share and to satisfy Nasdaq’s other continued listing requirements; the fact that, during the Discretionary Panel Monitor period, any failure to maintain compliance will result in a delist determination without the opportunity to submit a plan of compliance or obtain additional time from Nasdaq staff; the outcome of any hearing that may follow such a determination; the effect of the reverse stock split on the market price, trading volume, and liquidity of the Company’s common stock; volatility in the Company’s stock price; any potential legal proceedings; and the future performance of the Company’s stock. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Cycurion with the U.S. Securities and Exchange Commission. Cycurion anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Cycurion assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Cycurion’s plans and expectations as of any subsequent date.
Útočník po hacku Bitget za 387,5 milionu USD přesunul většinu prostředků přes cross-chain služby do bitcoinu. Veřejně bylo zmrazeno jen asi 840 tisíc USD, tedy 0,2 % ukradené částky.
Bitget’s attacker has moved much of the exchange’s $387.5 million theft toward Bitcoin through cross-chain services, while only around $840,000 had been publicly frozen five days after the Sept. 24 breach.
Summary
Bitget says attackers moved $387.5 million from hot and warm wallets across blockchains in September. BlockSec estimates attackers still controlled roughly $342 million five days after the Bitget theft began. Tether, Circle and NEAR Intents froze roughly $840,000, equal to only 0.2% of stolen funds. THORChain handled about $269 million in pass-through value, while Bitcoin became the main consolidation asset. North Korea remains suspected, but BlockSec says current onchain evidence does not establish attacker identity. BlockSec reported that the stolen funds followed three main paths: quickly converting assets that issuers could freeze, consolidating value from several chains into Bitcoin and gradually sending BTC into CoinJoin transactions.
The security firm based its analysis on addresses published through Bitget’s tracking dashboard and a Sept. 29 snapshot, meaning the balances and laundering totals can continue changing as funds move.
How did the Bitget hacker move the stolen money? Bitget said the breach began at 18:31 UTC on Sept. 24 with unauthorized transfers from portions of its hot and warm wallet infrastructure.
BlockSec found that the first transactions involved tiny test transfers of 0.84 ETH and 93 TRX. Larger withdrawals started at 18:58 UTC, while Bitget’s reconciliation system detected a discrepancy seven minutes later and blocked ordinary customer withdrawals.
The attackers were not relying on the normal customer withdrawal process, according to Bitget. The exchange said a vulnerability in a third-party security product gave the attackers high-level internal credentials, which were then used to submit forged withdrawal commands directly into its wallet system.
Private keys were not compromised, Bitget said, while its cold wallets remained unaffected. Independent investigations by Mandiant and SlowMist later confirmed that compromised third-party security software enabled unauthorized access to the exchange’s wallet environment.
The loss was initially estimated at $351.6 million before Bitget expanded the figure to roughly $387.5 million after accounting for Zcash and Tron transfers. BlockSec counted 13 stolen assets across 12 chains, with XRP representing the largest single-chain loss.
Assets that could be frozen were moved first. BlockSec found roughly $75.48 million in USDT, USDC and USDT0, plus 3,000 XAUt tokens, were converted into ETH or AVAX within 41 minutes of their theft.
Uniswap, UniswapX, 1inch and MetaMask’s built-in swap service appeared among the routes used. BlockSec said all those conversions were completed before Bitget CEO Gracy Chen publicly disclosed the breach.
Why has only $840K of Bitget’s $387M been frozen? Once the assets had been converted, the attacker began moving value between chains and toward Bitcoin.
BlockSec estimated that around $269 million in pass-through value moved through THORChain across 7,804 transactions by its Sept. 29 snapshot. Chainflip handled roughly $37.27 million, while USDT0/LayerZero, Circle’s CCTP, Across and Stargate appeared in other routes.
Those figures cannot be added together as separate stolen amounts. BlockSec cautioned that the same funds can move through more than one protocol while traveling between chains.
Nearly five days into the laundering process, BlockSec estimated attacker-controlled wallets still held approximately $342 million, equal to 88.3% of the original stolen amount. Bitcoin accounted for around 83.7% of that balance, or roughly 3,386 BTC.
Publicly visible freezes were much smaller.
Tether and Circle had immobilized around $340,000 in stablecoins. Much of that money became vulnerable to freezing because it remained at addresses long enough for the issuers to respond.
NEAR Intents separately said its SHIELD risk system caught attempts to route more than $50 million through the service. BlockSec’s review of the disclosure found roughly $503,000 was stopped during execution, while around $166,000 passed through.
The NEAR Intents figures carry an estimated error margin of up to 10%, according to the service’s own disclosure.
Earlier coverage of NEAR Intents blocking Bitget-linked transfers found that some funds were left in pending transactions after being flagged during the swap process.
Combined, the Tether, Circle and NEAR Intents actions put publicly visible frozen funds near $840,000, just 0.2% of the amount stolen.
Why did so much Bitget crypto move through THORChain? THORChain became the largest cross-chain route identified by BlockSec, drawing criticism from Bitget as stolen ETH continued to be converted into BTC.
Chen publicly asked THORChain to reject known attacker addresses, arguing that “decentralization is a design principle, not a shield” for stolen funds.
THORChain rejected the request and said its emergency halt functions are designed to protect the protocol as a whole, not selectively censor individual transactions.
The network said an emergency halt “is not a selective freeze” of a specific transaction or user.
A Bitget-linked wallet later swapped about $6.3 million of ETH into Bitcoin through THORChain, completing 27 swaps that produced approximately 75.2 BTC.
Other stolen funds reached Bitcoin mixers. BlockSec counted about $3.94 million entering CoinJoin transactions by Sept. 29.
One Sept. 27 CoinJoin transaction contained 356 inputs and 401 outputs. Four inputs, each containing 2.5 BTC, came from addresses Bitget’s tracker identified as belonging to the attacker.
Separate tracking of Bitget funds entering Wasabi CoinJoin previously found a route starting on Tron, passing through Ethereum and THORChain, then reaching Bitcoin before mixing.
Did North Korea carry out the Bitget hack? North Korean involvement remains an assessment, not a confirmed attribution by law enforcement.
Chen has said IP behavior and onchain patterns were “consistent with techniques used by DPRK-linked hacker groups.” Bitget said some IP addresses matched VPN infrastructure previously associated with a North Korean group, but the technical evidence behind that comparison has not been made public.
BlockSec found other possible links, including overlap with laundering methods used in attacks attributed to TraderTraitor and the use of THORChain to convert assets into Bitcoin.
Researcher ZachXBT identified several Chinese-speaking underground money launderers that he said were handling funds for the attacker. One had reportedly appeared in laundering activity connected with an earlier exploit.
Arkham separately pointed to the use of a peel-chain technique frequently associated with North Korean-linked operations.
BlockSec cautioned against treating those similarities as proof of attacker identity. Money-laundering services can work for different clients, while protocols such as THORChain and CoinJoin are available to unrelated users.
The security firm said the evidence points more directly to possible reuse of laundering groups than proof that the same hackers carried out earlier North Korean-linked attacks.
The comparison has centered partly on the 2025 Bybit theft. U.S. authorities formally attributed that $1.5 billion attack to North Korea’s TraderTraitor operation, while THORChain was heavily used to move the stolen Bybit funds.
No law-enforcement agency has publicly attributed the Bitget breach to North Korea as of the latest verified updates.
What happens next for Bitget and the stolen funds? Bitget continues to trace wallets and is offering a bounty for recoveries. The exchange offers qualifying participants 5% of funds they directly help freeze and another 5% for funds successfully recovered.
The Bitget recovery bounty was launched while Mandiant, SlowMist, exchanges and blockchain investigators continued tracking attacker addresses.
Bitget has already restored Bitcoin, Ether and USDT withdrawals in phases. Its published schedule places other tokens, fiat withdrawals and P2P services at 08:00 UTC on Oct. 2, although the exchange’s official incident page had not yet posted a separate confirmation of that final reopening when checked.
Bitget says the exploited vulnerability has been fixed and user balances remain unaffected. Its forensic investigation, law-enforcement work, fund tracing and recovery effort remain open, while the exchange says further material findings will be published through its official security updates.
THORChain spustil podporu Zcash (ZEC) poolu po kompletní rotaci uzlů; všichni validátoři nyní sledují síť Zcash. Nativní swapy zatím nejsou aktivní a likvidita je podle projektu zatím nízká.
TLDR THORChain activated Zcash (ZEC) pool support on October 2 following a complete node churn across its network. Every active validator now tracks the Zcash blockchain, though native swaps have not yet been enabled. The team cautioned that pool depth remains limited in these initial stages and recommended trader vigilance. Integration required months of technical work including UTXO management, RPC implementation and oracle integration for ZEC pricing. The rollout occurs while THORChain faces questions about its handling of assets connected to the Bitget security breach. THORChain has activated support for its Zcash liquidity pool. The deployment was confirmed on October 2 after the protocol finalized a comprehensive node rotation.
The $ZEC pool is now live on THORChain.
The network churned and every node is watching the Zcash chain. @Zcash now has a truly permissionless venue.
Trading is the next step. Liquidity is shallow for now and will grow over time, so trade with caution in the early days. pic.twitter.com/sVEj0K4xNQ
— THORChain (@THORChain) October 2, 2026
All operational validators across THORChain’s network are now actively observing the Zcash blockchain. While trading functionality remains offline, the protocol indicated it represents the immediate next milestone.
In its public statement, THORChain made clear that swap activity is forthcoming. The pool deployment and the activation of user-facing trades are distinct implementation phases.
Pool Depth Limited During Initial Phase THORChain issued guidance to users regarding the current state of the newly deployed pool. The protocol acknowledged that available liquidity is currently limited and will expand gradually.
Users were encouraged to exercise care during the initial period of ZEC operations. The October 2 announcement did not include specific figures for pool capacity or a confirmed timeline for enabling trades.
A network monitoring interface displaying THORChain’s active validators now shows ZEC operating with normal status. It is listed among Bitcoin, Ethereum and other integrated blockchains.
Extended Technical Work Preceded Launch The Zcash integration represents the culmination of significant development efforts. A March 4 protocol enhancement introduced chain-specific UTXO management and RPC functionality tailored for ZEC.
That identical upgrade integrated Zcash into the protocol’s oracle infrastructure. This enabled the network to conduct native price discovery for the asset.
A subsequent GitLab patch resolved a complication with ZEC network fee calculations. Engineers noted that an earlier implementation could artificially increase gas tolerance parameters during specific solvency checks.
Development activity extended through September. A THORNode code merge corrected signing discrepancies that emerged when validators computed transaction expiration from varying local chain states.
The solution anchored transaction expiration to a consensus ZEC block height. This approach ensured signing consistency across all validators during retry attempts and system restarts.
On September 17, THORChain confirmed that Zcash would be the next blockchain integrated into production. This followed an interval during which the project prioritized network reliability over expanding chain support.
Zcash’s UTXO architecture demanded additional configuration efforts. THORChain required parameters for address verification, gas calculations, minimum output thresholds, block intervals and coinbase rules before deployment could proceed.
The pool activation coincides with heightened scrutiny of THORChain’s involvement in processing compromised assets. Bitget revealed a security incident beginning September 24, subsequently increasing the estimated value transferred to attacker wallets to approximately $387.5 million.
Bitget indicated the figure encompassed Zcash and Tron transactions identified by forensic analysts. The platform enumerated affected tokens including XRP, ETH, USDT, ZEC, USDC, XAUt, BNB, AVAX and TRX.
Investigation findings suggest a wallet associated with the Bitget perpetrator executed 27 exchanges via THORChain. These transactions converted approximately 2,390 ETH into 75.2 BTC, valued at roughly $6.3 million at execution.
Bitget had requested that THORChain prevent transactions originating from addresses linked to the attacker. THORChain refused, explaining that its emergency mechanisms can halt a blockchain or the entire protocol but lack the capability to isolate individual addresses or transactions.
THORChain articulated its stance in an October 1 blog entry. The project stated that substantial protocol modifications demand a two-thirds supermajority among validator operators.
This marks not the first occasion THORChain has encountered such examination. Following the February 2025 Bybit compromise, Bybit’s CEO stated that 72% of approximately $900 million in laundered stolen assets transited through THORChain.
Bitget’s asset recovery portal currently displays attacker wallet addresses spanning multiple networks, including Zcash. The exchange has posted a 5% reward for assistance resulting in asset freezing or recovery.
At present, THORChain’s Zcash pool is operational, though native swap functionality has not been activated.
CRISPR Therapeutics oznámila, že na ACR Convergence 2026 představí data z fáze 1 pro zugo-cel u autoimunitních onemocnění. Poster se zaměří na bezpečnost a účinnost u refrakterní systémové sklerózy.
ZUG, Switzerland and BOSTON, Oct. 02, 2026 (GLOBE NEWSWIRE) -- CRISPR Therapeutics (Nasdaq: CRSP), today announced that a poster presentation highlighting the Company’s Phase 1 clinical data of its investigational CRISPR/Cas9 gene-edited allogeneic CAR T cell therapy, zugocabtagene geleucel (zugo-cel) targeting CD19 for autoimmune disease, will be presented at the American College of Rheumatology (ACR) Convergence 2026.
Title: Safety and Efficacy of Anti-CD19 Allogeneic Chimeric Antigen Receptor (CAR) T Cell Therapy Zugocabtagene Geleucel (zugo-cel) in Patients with Refractory Systemic Sclerosis
Session Type: Poster Presentation
Abstract Number: 0225
Session Name: Poster Session A
Date and Time: Sunday, November 8, 2026, 10:30 a.m. ET
Zugo-cel is being evaluated in Phase 1 trials across autoimmune diseases, including rheumatologic, hematologic and neurologic indications.
A copy of the presentation will be available at www.crisprtx.com once the presentation concludes.
About CRISPR Therapeutics
CRISPR Therapeutics is a leading biopharmaceutical company focused on developing transformative gene-based medicines for serious human diseases. Founded over a decade ago as an early pioneer in CRISPR/Cas9 gene editing, the Company has evolved from a pioneering research-stage organization into an industry leader, marking a historic milestone with the approval of CASGEVY® (exagamglogene autotemcel [exa-cel]), the world’s first CRISPR-based therapy, for eligible patients with sickle cell disease and transfusion-dependent beta thalassemia. Today, CRISPR Therapeutics is advancing a broad, diversified pipeline spanning hemoglobinopathies, cardiovascular disease, autoimmune disease, oncology, regenerative medicine and rare diseases. The Company is also expanding its gene editing toolkit through SyNTase™ editing, its novel, proprietary platform designed to enable precise, efficient, and scalable gene correction. To accelerate its impact, CRISPR Therapeutics has established strategic collaborations with leading biopharmaceutical partners, including Vertex Pharmaceuticals. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Boston, Massachusetts and San Francisco, California. To learn more, visit www.crisprtx.com.
CRISPR THERAPEUTICS® standard character mark and design logo and SyNTase™ are trademarks and registered trademarks of CRISPR Therapeutics AG. CASGEVY® and the CASGEVY logo are registered trademarks of Vertex Pharmaceuticals Incorporated. All other trademarks and registered trademarks are the property of their respective owners.
CRISPR Therapeutics Forward-Looking Statement
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding any or all of the following: (i) CRISPR Therapeutics preclinical studies, clinical trials and pipeline products and programs, including, without limitation, manufacturing capabilities, status of such studies and trials and expectations regarding data, safety and efficacy generally; (ii) data included in the above-described poster presentation and any associated abstract; and (iii) the therapeutic value, development, and commercial potential of gene editing technologies and therapies, including CRISPR/Cas9, as well as other technologies. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in CRISPR Therapeutics most recent annual report on Form 10-K and in any other subsequent filings made by CRISPR Therapeutics with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.
Wolfspeed uvedl na trh prémiový 200mm n-type silicon carbide substrát a rozšířil portfolio 200mm SiC. Akcie v reakci na širší rally polovodičů po výsledcích Micronu 1. října vzrostly o více než 10 %.
Wolfspeed Inc. (NYSE:WOLF) had a busy week that included an expansion of its 200mm silicon carbide portfolio and a broader semiconductor rally fueled by Micron’s strong earnings.
Wolfspeed stock is trading at elevated levels. What’s next for WOLF stock? New Premium Substrate LaunchOn September 27, Wolfspeed announced the commercial availability of its new Premium 200mm n-type silicon carbide substrate, expanding its 200mm SiC materials portfolio with a higher-quality starting material designed to improve yield through reduced defects and greater wafer-shape stability. The product delivers fewer than 0.01 micropipes per square centimeter, or fewer than three micropipes per wafer, as validated by X-ray topography, alongside low threading screw dislocations and improved wafer-shape and lot-to-lot consistency.
“Wolfspeed leads in advancing silicon carbide materials technology, and this latest addition to our 200 mm portfolio reflects our expertise behind those efforts,” said Dr. Cengiz Balkas, EVP of the Materials Business Unit at Wolfspeed. “We’re giving customers a stronger foundation for developing increasingly demanding silicon carbide devices, backed by the manufacturing experience and scale to support them as needs grow.”
Micron’s Earnings Lift Semiconductor StocksSeparately, Micron reported fiscal fourth-quarter results on September 30 that beat expectations on both the top and bottom lines, with adjusted earnings per share of $33.42 against a consensus estimate of $45, and revenue of $54.22 billion against an estimate of $50.75 billion. The strong report reinforced confidence that AI infrastructure demand remains intact, lifting semiconductor stocks broadly, including Wolfspeed, which rose more than 10% on October 1.
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Wolfspeed Shares Edge HigherWOLF Price Action: At the time of publication, Wolfspeed shares are trading 3.63% higher at $32.30, according to data from Benzinga Pro.
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Aqua Pennsylvania koupila vodárenská aktiva Ulster Municipal Authority za 0,5 mil. USD a přidá 180 zákazníků. V příštích pěti letech plánuje investovat 2 mil. USD do modernizace sítě.
Key Takeaways WTRG's Aqua Pennsylvania bought Ulster's water system assets for $0.5M, adding 180 customers.Aqua Pennsylvania plans $2M of upgrades over five years to modernize facilities and replace aging lines.Essential Utilities has signed deals covering over 200,000 customers and an active 400,000-customer pipeli Essential Utilities, Inc. (WTRG - Free Report) announced that its subsidiary, Aqua Pennsylvania, acquired the water system assets of the Ulster Municipal Authority in Bradford County for $0.5 million. This new acquisition will increase the existing water customer base by 180 customers.
Aqua Pennsylvania plans to invest $2 million in upgrades to the acquired water system assets of the Ulster Municipal Authority in Bradford County over the next five years and provide quality services to the customers in the region.
These infrastructure upgrades aim to modernize facilities, replace aging lines and provide safe, high-quality water for all residents of Ulster.
Fragmented Water Utilities Offer Acquisition OpportunitiesEssential Utilities is quite active in expanding its operations through acquisition. Since 2015, the company has added more than 138,000 customers or equivalent dwelling units and about $570 million of rate base through acquisitions. In May 2026, Essential Utilities acquired Integra Water Texas for $4.9 million, adding about 1,100 wastewater customers after closing Greenville earlier in the year. Signed purchase agreements represent more than 200,000 customers and about $282 million in purchase price, while the active municipal acquisition pipeline is about 400,000 customers. Essential Utilities’ proposed American Water Works (AWK - Free Report) merger remains targeted for the first quarter of 2027.
American Water Works is expanding its customer base through regulated acquisitions as well as organic growth. Through June 30, 2026, the company added about 52,000 customer connections from acquisitions, including roughly 47,000 connections from the Nexus systems acquired on June 1. The Nexus transaction expanded operations across eight states and was completed ahead of the company’s initial timeline.
Another water utility, California Water Service Group (CWT - Free Report) , stated that it has agreed to acquire Nexus Water Group’s Nevada and Oregon water and wastewater systems for $218 million. The company completed the acquisition of Palm Mutual Water Company in July 2026, which added more than 300 customers.
Recently, Select Water Solutions (WTTR - Free Report) agreed to acquire Pilot Water Solutions for $700 million, plus up to $15 million in contingent consideration. Pilot Water Solutions adds extensive Delaware Basin infrastructure, long-term contracted revenues and significant disposal capacity. The combination will expand Select Solutions’ water midstream platform, pipeline network, recycling capacity and produced-water storage footprint
Avient spustila Nymax FR REC s 42–77 % postindustriálního recyklátu pro elektrické aplikace. Materiál nabízí nehalogenové složení bez PFAS a splňuje UL 94 V-0.
Key Takeaways Avient launches Nymax FR REC grades with 42-77% post-industrial recycled content for electrical uses.The materials offer UL 94 V-0 performance and non-halogenated, non-PFAS formulations for OEMs.New grades help OEMs and component manufacturers address fire-safety requirements alongside circularity goals. Avient Corporation (AVNT - Free Report) declared the launch of Nymax FR REC flame-retardant recycled polyamide grades, addressing the growing demand for more sustainable materials amid the company’s accelerating electrification and circularity initiatives. The new grades combine non-halogenated fire safety performance with 42-77% post-industrial recycled content, helping manufacturers achieve uncompromising fire safety along with aggressive sustainability targets.
Avient, which is among the prominent mid-cap chemical companies along with Innospec Inc. (IOSP - Free Report) , Quaker Chemical Corporation (KWR - Free Report) and Cabot Corporation (CBT - Free Report) , will showcase the Nymax FR REC portfolio at the upcoming Fakuma international trade fair in Germany. The launch will mainly target residential and institutional power distribution systems.
As increasing bans on per- and polyfluoroalkyl substances (PFAS) emerge, original equipment manufacturers (OEMs) are eager to lower the product’s carbon footprint. The system can be used widely across various applications, including switchgear, busway and connectors, appliances, BESS, and EV charging infrastructure.
The new materials deliver UL 94 V-0 performance at 0.8 millimeters and a 960°C glow-wire flammability index, supporting compliance with global electrical safety standards. The formulations also offer comparative tracking index values of up to 600 V and use non-halogenated, non-PFAS formulations, aligning with regulatory requirements.
The portfolio includes PA6 and PA66 resins with 15-40% glass-fiber loading, along with unfilled options. By incorporating recycled feedstock while maintaining flame-retardant performance, Avient aims to help OEMs and component manufacturers address fire-safety requirements alongside circularity goals.
Avient, in August, raised its full-year 2026 adjusted earnings guidance to $3.10-$3.25 per share from the previous range of $2.93-$3.17. The revised range implies adjusted earnings growth of 10-15% over 2025. Management cited year-to-date performance and visibility into third-quarter demand in raising its expectations. The company also increased its full-year adjusted EBITDA guidance to $575-$603 million. Avient expects to repay $100-$150 million of debt during 2026, including the $50 million repaid in the second quarter. Management remains focused on targeted investments in prioritized growth portfolios while pursuing continued earnings growth and balance-sheet improvement.
Another industry leader, Innospec, expects its Performance Chemicals segment to benefit from ongoing plant repairs, process improvements, upgrades and additional top-line and margin opportunities. For Oilfield Services, Innospec expects its DRA expansion and opportunities in completions and production to support further sequential gains. Fuel Specialties, meanwhile, is expected to continue advancing opportunities across its established and newer end markets. IOSP continues to pursue opportunities across traditional fuel, renewable fuel and non-fuel applications.
Quaker Chemical, on its second-quarter call, released its third-quarter guidance, reflecting expectations of stable demand, with end markets projected to remain flat to slightly positive through the rest of 2026. Continued share gains are expected to support volume growth despite macroeconomic and geopolitical uncertainty. KWR expects the gross margin percentage in the third quarter to remain near second-quarter levels as it works through raw material cost inflation, inventory movements and the timing of price recovery actions. Management said pricing and cost initiatives should allow the company to exit 2026 within its target gross margin range. The company continues to expect meaningful revenue and adjusted EBITDA growth in 2026.
Cabot, for fiscal 2026, tightened its adjusted earnings guidance to $6.15-$6.45 per share from the previous range of $6-$6.5. The company expects its full-year fiscal 2026 operating tax rate to be in the range of 28-30%. It also reaffirmed its expectation of approximately $40 million of EBITDA from its battery materials product line for fiscal 2026. CBT is expanding global conductive additive capacity through targeted investments in the United States and China to support expected growth in global battery demand and broaden its participation with leading battery manufacturers.
EMCOR ve 2. čtvrtletí zvýšil tržby o 19,8 % na rekordních 5,15 miliardy USD a EPS vzrostl o 34,8 % na 9,06 USD. RPO dosáhly rekordu 17,14 miliardy USD.
Key Takeaways EMCOR's Q2 revenues rose 19.8% to a record $5.15 billion, while EPS surged 34.8% to $9.06.EME's record $17.14 billion RPOs reflect strong demand across data centers and other key markets.Five electrical acquisitions add about $625 million in revenues and expand EMCOR's market capabilities. EMCOR Group, Inc. (EME - Free Report) is proving that being everywhere infrastructure dollars are flowing can be a powerful growth strategy. From AI data centers and high-tech manufacturing to water, healthcare and institutional projects, EMCOR’s broad end-market exposure is helping it capture multiple growth waves rather than rely on a single infrastructure cycle.
The momentum was evident in the second quarter of 2026, wherein revenues jumped 19.8% year over year to a record $5.15 billion, while operating income surged 31.8% to $547.3 million. Operating margin expanded 100 basis points to 10.6% and EPS (earnings per share) soared 34.8% to $9.06. Remaining Performance Obligations, or RPOs, reached a record $17.14 billion, up 43.9% year over year and 29% from December 2025. Network & Communications, Water & Wastewater, and Institutional and Healthcare were among the biggest contributors.
AI infrastructure remains a major engine. Customer spending on data centers and digital transformation is driving unprecedented activity in Network & Communications. But EMCOR’s growth story goes well beyond data centers. Water and wastewater, healthcare, institutional and manufacturing markets are also generating robust demand. EME is also using M&A to widen its reach. Five recently announced electrical acquisitions bring roughly $625 million in trailing-12-month revenues, $105 million in EBITDA and about 1,500 employees. The deals strengthen its presence across key markets while adding capabilities in data centers, manufacturing, healthcare and institutional projects.
Labor shortages, tariffs, supply-chain volatility and project-mix shifts remain risks. Still, EMCOR’s diversified demand base, technical expertise and acquisition strategy could make its broad market footprint a meaningful competitive advantage.
EMCOR, MasTec & Quanta: The Great Infrastructure Growth ShowdownEMCOR is positioned to benefit from sustained U.S. public infrastructure spending, alongside close market peers, including MasTec, Inc. (MTZ - Free Report) and Quanta Services, Inc. (PWR - Free Report) . But their exposure differs.
EME’s broad mix across electrical and mechanical construction, data centers, healthcare, water and wastewater, institutional and manufacturing markets provides multiple growth avenues. Meanwhile, MasTec’s $21.4 billion backlog reflects momentum across clean energy, power delivery, pipelines and communications, while Quanta’s broader utility and power infrastructure footprint targets grid modernization, transmission, generation and AI-driven electricity demand.
Quanta and MasTec offer deeper exposure to power infrastructure tied to AI, while EMCOR has a wider building-services and end-market mix. EME’s competitive edge is diversification, customer breadth and cross-trade capabilities, potentially reducing reliance on any single infrastructure cycle and supporting resilience across demand cycles.
Morgan Stanley 1. října 2026 zahájila pokrytí Lennar s ratingem Underweight a cílovou cenou 65 USD. Berkshire Hathaway mezitím navýšila podíl v Lennar na zhruba 26,6 milionu akcií.
Morgan Stanley just issued a sell rating on a homebuilder that Berkshire Hathaway keeps buying in larger and larger quantities, and the reasoning behind each side reveals a fundamental disagreement about time, risk, and when housing recovers.
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On October 1, 2026, Morgan Stanley (NYSE:MS | MS Price Prediction) started covering Lennar (NYSE:LEN) with an Underweight rating, its version of a sell rating. It set a $65 price target.
Lennar shares barely moved. The stock rose 0.67% in that session and closed at $82.14. It had already fallen 18.88% year to date, so investors had likely priced in much of the bad news.
The buyer on the other side helps explain the calm. Berkshire Hathaway (NYSE:BRK-B) crossed 10% ownership of Lennar, and it kept buying through the end of the month.
That puts a major bank’s bearish call against a long-term owner looking to buy more. Both can read the same numbers because they operate on different time frames.
Morgan Stanley’s Objection Is About Margin Morgan Stanley wrote that “Lennar’s land-light transition needs to deliver better earnings, and higher finished lot costs and sustained incentives could offset the benefit.”
Land-light means Lennar buys options on lots from outside property owners instead of owning the land itself. This ties up less capital but reduces profit. Lennar owns fewer than 2.5% of about 488,000 controlled lots.
Gross margin on home sales already fell to 15.8% in the fiscal third quarter, down from 17.5% a year earlier, and incentives ran near 12.0%.
Morgan Stanley also rated two other builders Underweight. Its only Overweight went to Toll Brothers (NYSE:TOL), with a $159 target.
This rating adds to an already bearish majority. Lennar has 5 strong sell and 3 sell ratings, compared with 1 buy, 1 strong buy, and 8 holds. The consensus target of $80.08 sits below the share price, meaning the average analyst sees downside, though targets often lag reality.
What Berkshire Is Buying Berkshire held 13.1 million shares at the end of June. The stake reached about 26.6 million shares after purchases from September 28 through September 30. The timeline complicates any link to Warren Buffett. Berkshire’s original 2023 stake was about 153,000 shares. Buffett stepped down as chairman on September 18, with Greg Abel as chief executive.
Berkshire does not disclose which manager makes each purchase, so whether this is a Buffett call or an Abel call remains an open question (if you want to borrow Buffett’s homework elsewhere, we sorted the seven cheapest dividend payers in Berkshire’s portfolio into a free report here).
At this price, a buyer gets a large controlled land position, homebuilding debt at only 16.6% of total capital, and a claim on the day homes become affordable again. Berkshire can wait a full cycle for that return. Morgan Stanley is estimating the next few quarters.
Weak Results and Rising Rates Pressure Lennar Adjusted EPS of $1.23 missed the $1.30 consensus. Management cut full-year delivery guidance to 80,000 to 81,000 homes.
The 10-year Treasury yield rose to 5.29% on September 30. Higher rates make mortgage buydowns more expensive, putting the fourth-quarter margin guide of 15.5% to 16.0% at risk.
Berkshire can wait years without harm. A retiree holding shares with a -34.68% one-year return may not have that patience.
Toll Brothers, Morgan Stanley’s preferred builder, sells to wealthier buyers who depend less on financing incentives. Berkshire shareholders hold Lennar as one small part of a diversified company.
Watch fiscal fourth-quarter gross margin. A result below 15.5% would support Morgan Stanley’s case. A close below the $75.70 52-week low would put the stock at a new 52-week low.
Contact [email protected] for any questions or corrections.
Cable One jedná v pokročilé fázi o financování s GTCR a dalšími věřiteli, aby posílila kapitálovou strukturu. Zatím ale nebyla uzavřena žádná definitivní dohoda.
PHOENIX--(BUSINESS WIRE)--Cable One, Inc. (NYSE: CABO) (“Cable One” or the “Company”) today announced it is in advanced discussions with GTCR LLC (“GTCR”), certain of its existing lenders and a consortium of leading private lending institutions regarding financing transactions to address certain of the Company’s forthcoming capital needs. Cable One is working towards enhancing its capital structure to position the company to drive growth in shareholder value.
“We are pleased at the momentum and interest from existing stakeholders and new investors, who are collaborating with us to formulate a solution that supports the future of Cable One. The contemplated financings are intended to strengthen Cable One’s overall financial position,” said Jim Holanda, Chief Executive Officer of Cable One.
“GTCR has been working closely with Cable One to facilitate a potential transaction that would bring new capital into the business and highlight its unrealized potential. Our close work together underscores our conviction in the business as an enduring leader in its industry,” said Stephen J. Jeschke, Managing Director at GTCR. “Throughout this process, our focus has been on developing a solution that supports a sustainable path forward for the business and we look forward to the opportunity to participate in Cable One’s next phase of growth in close partnership.”
While all parties are working diligently on the financing transactions, no definitive agreements have been entered into thus far, and there can be no guarantee that any transaction will materialize.
Separately, Cable One and GTCR have agreed to an extension of the deadline for the completion of Cable One’s purchase of the 55% remaining stake that Cable One does not already own in Mega Broadband Investments Holdings LLC to October 9, 2026.
About Cable One
Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider delivering exceptional service and enabling approximately 1 million residential and business customers across 24 states to thrive and stay connected to what matters most. Through Sparklight®, the brand our customers know and trust, we’re not just shaping the future of connectivity – we’re transforming it with a commitment to innovation, reliability, and customer experience at our core.
Our robust infrastructure and cutting-edge technology don’t just keep our customers connected; they help drive progress in education, business, and everyday life. We’re dedicated to bridging the digital divide, empowering our communities, and fostering a more connected world. When our customers choose Cable One, they are choosing a team that is always working for them–one that believes in the relentless pursuit of reliability, because being a trusted neighbor isn’t just what we do – it’s who we are.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that invests behind The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $35 billion in over 300 companies, and the firm currently manages $45 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
Forward-Looking Statements
This communication may contain “forward-looking statements” that involve risks and uncertainties. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections about the Company’s industry, business, strategy, technologies, acquisitions and strategic investments, market expansion plans, dividend policy, capital allocation, financing strategy, the put option associated with the remaining equity interests in Mega Broadband Investments Holdings LLC (“MBI”), which was exercised on January 2, 2026 (the “Put Option”), the purchase price payable pursuant to the Put Option (such purchase price, the “Put Price”), the anticipated timeline to consummate such transaction, the Company’s ability and sources of capital to fund the Put Price, MBI’s future indebtedness and the Company’s financial results and financial condition. Forward-looking statements often include words such as “will,” “should,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance in connection with discussions of future operating or financial performance. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may vary materially from those expressed or implied in its forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statement made by the Company or on its behalf. Important factors that could cause the Company’s actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the following factors, which are discussed in the Company’s latest Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission (the “SEC”), including its latest Quarterly Report on Form 10-Q:
rising levels of competition from historical and new entrants in the Company’s markets; recent and future changes in technology, and the Company’s ability to develop, deploy and operate new technologies, service offerings and customer service platforms; risks associated with the Company’s use of artificial intelligence; the Company’s ability to grow its residential data and business data revenues and customer base; increases in programming costs and retransmission fees; the Company’s ability to obtain hardware, software and operational support from vendors, including the potential impacts of changes in trade policy and tariffs; risks relating to existing or future acquisitions and strategic investments by the Company, including risks associated with the exercise of the Put Option associated with the remaining equity interests in MBI and the acquisition and integration of MBI; the integrity and security of the Company’s network and information systems; the impact of possible security breaches and other disruptions, including cyber-attacks; the Company’s failure to obtain necessary intellectual and proprietary rights to operate its business and the risk of intellectual property claims and litigation against the Company; the Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; impairments of intangible assets and goodwill; legislative or regulatory efforts to impose new requirements on the Company’s data services; additional regulation of the Company’s video and voice services or changes to government subsidy programs; the Company’s ability to renew cable system franchises; increases in pole attachment costs; changes in local governmental franchising authority and broadcast carriage regulations; the potential adverse effect of the Company’s level of indebtedness on its business, financial condition or results of operations and cash flows; the restrictions the terms of the Company’s indebtedness place on its business and corporate actions; the possibility that interest rates will rise, causing the Company’s obligations to service its variable rate indebtedness to increase significantly; risks associated with the Company’s indebtedness, including the Company’s ability to pay dividends on, make distributions in respect of, repurchase or redeem, capital stock; provisions in the Company’s charter, by-laws and Delaware law that could discourage takeovers and limit the judicial forum for certain disputes; adverse economic conditions, labor shortages, supply chain disruptions, changes in rates of inflation and the level of move activity in the housing sector; pandemics, epidemics or disease outbreaks, such as the COVID-19 pandemic, have, and may in the future, disrupt the Company’s business and operations, which could materially affect the Company’s business, financial condition, results of operations and cash flows; lower demand for the Company’s residential data and business data products; fluctuations and/or declines in the Company’s stock price; dilution from equity awards, convertible indebtedness and potential future convertible debt and stock issuances; damage to the Company’s reputation or brand image; the Company’s ability to retain key employees (whom the Company refers to as associates); the Company’s ability to incur future indebtedness; provisions in the Company’s charter that could limit the liabilities for directors; and the other risks and uncertainties detailed from time to time in the Company’s filings with the SEC, including but not limited to those described under “Risk Factors” in its latest Annual Report on Form 10-K, its latest Quarterly Report on Form 10-Q and in its subsequent filings with the SEC. Any forward-looking statements made by the Company in this communication speak only as of the date on which they are made. The Company is under no obligation, and expressly disclaims any obligation, except as required by law, to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Applied Digital zprovoznila další fázi Polaris Forge 1, čímž zvýšila plně provozní kapacitu kampusu na 250 MW. Akcie APLD rostou o 7 % a IREN přidává 6 % bez vlastních zpráv.
Applied Digital just hit a capacity milestone at its North Dakota campus, and the buying is spilling into a peer that released no news at all. The difference between those two rallies matters more than the gains themselves.
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A capacity milestone at Applied Digital (NASDAQ:APLD) is lifting the artificial intelligence (AI) data center group, and the buying reaches beyond the company that made the announcement. Applied Digital shares are surging 7% to $25.89 this morning. Meanwhile, IREN (NASDAQ:IREN) stock is climbing 6% to $43.03 as buyers move into the rest of the group.
To test whether a general rally explains the move, two funds offer a quick comparison. The Global X Data Center & Digital Infrastructure ETF (NASDAQ:DTCR) is up 1.51% to $27.48. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is also gaining 0.9% to $770.58.
Shares of Applied Digital are outpacing both funds, so a broad bid for equities doesn’t account for the scale of its gain, and IREN stock rising alongside Applied Digital shares points to investors buying the data center group together, with the Polaris Forge 1 milestone acting as the spark. That combination frames the rally as a group trade, with Applied Digital at the front.
Another Polaris Forge 1 Phase Reaches Ready for Service Ready for Service status now applies to the latest phase of a building at Applied Digital’s Polaris Forge 1 campus in Ellendale, North Dakota. Applied Digital stated that the delivery brings the campus’s fully operational capacity to 250 megawatts (MW). The campus is fully leased, and Applied Digital is contracted to deliver more capacity there at completion.
In the announcement, Applied Digital Chairman and CEO Wes Cummins stated, “Securing power is only the starting point. The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers.” That emphasis fits Applied Digital’s situation, since the campus was already fully leased before this capacity came online. Turning secured power into working capacity on schedule is the part of the model that lease signings alone can’t prove.
IREN Rises Without News of Its Own The gain in IREN stock stands out because the company has offered no announcement of its own to explain the move. That pattern suggests traders are treating Applied Digital’s progress as evidence for operators like IREN that convert secured power into leased AI capacity. Somebody must power, cool, and connect all that expansion. We pulled together seven of those suppliers in a free report on the AI infrastructure trade.
Applied Digital stock has a concrete catalyst behind its gain, with 250 MW now fully operational at the company’s Polaris Forge 1 campus. IREN shares, by contrast, are moving on mood alone, which leaves that advance more exposed if enthusiasm for the group cools, while behind the delivery sits Applied Digital’s fully leased campus, which ties the milestone to contracted customers.
Funding the Buildout Is the Open Question Delivery at this phase is settled, and the cost side of Applied Digital’s story now comes into focus. Building and commissioning capacity at this scale takes heavy capital, and the unresolved issue is whether Applied Digital can keep funding that pace without stressing its balance sheet. Shareholders may want to keep an eye on whether the company’s next phases arrive on schedule and how Applied Digital pays for them.
The next test for IREN stock is whether shares can hold their gain once the lift from Applied Digital’s milestone fades. Traders can watch for new announcements from IREN or its peers that would give the group a catalyst of its own. Absent company news, IREN shares could stay tied to whatever direction the group takes.
Contact [email protected] for any questions or corrections.
Key Takeaways CDW expects operating leverage and expense efficiency to improve sequentially through the second half.Gross margin fell 70 basis points as hardware infrastructure and enterprise orders gained mix.CDW expects services demand to strengthen as infrastructure projects move into implementation. CDW Corporation (CDW - Free Report) has entered the second half of 2026 with a focus on improving operating leverage and expense efficiency after delivering solid second-quarter results. The company reported second-quarter net sales of $6.6 billion, up 10% year over year, while gross profit increased 6% to $1.3 billion. Non-GAAP operating income rose 7% to $556 million, and non-GAAP earnings per share increased 12% to $2.91. However, gross margin declined 70 basis points (bps) year over year to 20.1%, reflecting a greater contribution from large hardware infrastructure opportunities related to modernization and AI readiness, particularly among enterprise customers, along with a lower relative contribution from services.
On the last earnings call, management highlighted that the gross-margin pressure was primarily a function of business mix rather than like-for-like pricing pressure. CDW maintained pricing discipline and continued to pass through price increases, while the growing mix of infrastructure products, larger-dollar orders and enterprise customers carried relatively lower margins. At the same time, netted-down revenue streams increased 16.1% and accounted for 35.9% of gross profit, up 300 bps year over year. Services grew only 1% as customers prioritized hardware and cloud investments and deployment timing affected demand, although CDW expects life-cycle and professional services activity to increase as customers move from procurement toward implementation and management.
The second half is expected to bring greater benefits from CDW’s Geared for Growth initiatives. Second-quarter non-GAAP SG&A represented 57.9% of gross profit, down 20 bps year over year and 410 bps sequentially. Management said the second-quarter improvement in operating leverage largely reflected expense discipline and broader efficiency measures, while the more significant benefits from Geared for Growth are expected to emerge in the back half. The company expects both operating leverage and its expense ratio to improve sequentially through the second half and into 2027.
For 2026, CDW expects gross profit to grow in the mid-single digits, although second-half gross margins are projected to remain below year-ago levels because of product and end-market mix. Third-quarter non-GAAP SG&A is expected to decline sequentially, helping reduce operating expenses as a percentage of gross profit both year over year and sequentially. Management also expects services demand to strengthen as current infrastructure projects progress into implementation, supporting its expectation for improving operating leverage during the second half.
Taking a Look at CDW’s CompetitorsServiceNow, Inc.’s (NOW - Free Report) margins remain under pressure as rising AI adoption and greater reliance on hyperscaler infrastructure increase costs. In the second quarter of 2026, non-GAAP total gross margin declined to 78% from 81% a year earlier, while subscription gross margin fell 250 bps to 80.5%. Despite the pressure, non-GAAP operating margin remained stable at 29.5%, supported by revenue outperformance and disciplined spending. For 2026, ServiceNow continues to target an 81% non-GAAP subscription gross margin and 31.5% operating margin. Management expects AI-driven efficiencies, including roughly $500 million in internal savings, to help offset infrastructure and integration-related margin pressures.
Accenture plc’s (ACN - Free Report) margins remained relatively stable in the third quarter of fiscal 2026, despite ongoing investments in AI, talent and acquisitions. Gross margin was 32.8%, slightly below 32.9% in the year-ago quarter, reflecting continued cost pressures from its labor-intensive delivery model and evolving AI-led services. However, operating income increased 6% year over year to $3.18 billion, while operating margin expanded 20 bps to 17% from 16.8%. SG&A expenses declined to 15.8% of revenues from 16%. Strong Managed Services growth and disciplined cost management supported profitability, although AI-driven delivery changes and higher acquisition spending could influence margins going forward.
Avnet, Inc.’s (AVT - Free Report) margin profile is improving as higher volumes, favorable mix and operating leverage support profitability. Adjusted operating margin expanded to 3.8% in the fourth quarter of fiscal 2026, up 73 bps sequentially and 129 bps year over year. Electronic Components margin reached 4.1%, while Farnell’s margin rose to 9% from 4.3% a year earlier, supported by a higher mix of on-board components. Management expects Farnell to reach double-digit margins before the end of fiscal 2027 and consolidated SG&A as a percentage of gross profit to fall below 60%. However, gross margin remains sensitive to regional mix and pricing dynamics.
Commercial Metals Company (NYSE:CMC) will release its fourth-quarter earnings report before the opening bell on Thursday, Oct. 15.
Analysts expect the Irving, Texas-based company to report quarterly earnings of $1.98 per share, up from $1.37 per share in the year-ago period. The consensus estimate for CMC’s quarterly revenue is $2.56 billion. It reported $2.11 billion last year, according to Benzinga Pro.
On Aug. 5, CMC raised its share repurchase program by $600 million.
Commercial Metals shares rose 1% to close at $62.72 on Thursday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Cantor Fitzgerald analyst Dave Rochester maintained the stock with a Neutral rating and raised the price target from $30 to $31 on Aug. 19, 2026. This analyst has an accuracy rate of 59%. Citigroup analyst Benjamin Gerlinger maintained the stock with a Neutral rating and increased the price target from $29 to $32 on July 21, 2026. This analyst has an accuracy rate of 51%. Piper Sandler analyst Stephen Scouten maintained the stock with an Overweight rating and increased the price target from $33 to $36 on July 17, 2026. This analyst has an accuracy rate of 74%. Stephens & Co. analyst Matt Olney maintained an Overweight rating and raised the price target from $32 to $35 on July 17, 2026. This analyst has an accuracy rate of 69%. Keefe, Bruyette & Woods analyst Christopher Mcgratty maintained the stock with a Market Perform rating and boosted the price target from $30 to $32 on July 17, 2026. This analyst has an accuracy rate of 65%. Considering buying CMC stock? Here’s what analysts think:
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Stárnutí baby boomerů a téměř zastavená nová výstavba senior housing zvyšují cenovou sílu REITů. Nejvíc z toho těží Welltower a Ventas, zatímco CareTrust nabízí nejvyšší výnos a nejsilnější krytí dividendy.
Baby boomers are turning 80 in waves while new senior housing construction has nearly stopped, and that collision of demographics and supply is reshaping how much income four REITs can realistically promise their investors.
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The leading edge of the “nearly 70 million baby boomers has just begun turning 80 this year”, according to the Ventas (NYSE:VTR) chief executive, and new construction is close to a halt. Ventas executives noted “a little over a thousand starts this quarter and there’s two million people turning 80 just in 2026.” When demand rises and supply doesn’t, landlords gain pricing power, and that is the background for this edition of REIT Rent Check on senior housing and skilled nursing. September was a rough month for the group anyway. Over the past month, Ventas fell 8.5% and CareTrust REIT (NYSE:CTRE) fell 9.11%. That decline raised yields across the roster. All four names below are equity REITs that own buildings. Their dividends come from rent and operating income.
Two Ways a Senior Housing REIT Gets Paid The operator structure determines how much risk sits in each rent check. In a triple-net lease, an operator pays the REIT a fixed rent, usually with annual increases, and covers taxes, insurance and maintenance. The REIT’s risk is whether the operator can keep paying, so the number to track is rent coverage (operator EBITDAR divided by rent). In a SHOP (senior housing operating portfolio, sometimes called RIDEA) structure, the REIT owns the building and keeps the operating profit, while a manager runs the community for a fee.
That arrangement gives the REIT the full upside when occupancy and rates rise, and the full downside when costs jump. Welltower (NYSE:WELL) and Ventas lean mostly on SHOP. Omega Healthcare Investors (NYSE:OHI) and CareTrust lean mostly on triple-net. Dividend safety below is measured on FFO, AFFO or FAD (cash flow measures REITs use in place of net income), and each section names the metric it uses.
REIT Price (Oct. 1 Close) Forward Annual Dividend Forward Yield Coverage Read Welltower $226.94 $3.40 1.50% 53% of normalized FFO guidance midpoint Ventas $83.73 $2.08 2.48% 54% of normalized FFO guidance midpoint Omega Healthcare $45.23 $2.72 6.01% 84% of AFFO guidance midpoint CareTrust REIT $35.91 $1.56 4.34% approximately 76% of normalized FAD (company disclosed) Welltower Trades Yield for the Fastest Growth in Senior Housing Welltower is the largest pure-play senior housing REIT. It owns communities across the U.S., the U.K. and Canada, plus outpatient medical and post-acute assets. The SHOP segment generated $3.03B of second-quarter revenue, so Welltower gets operating profit directly. Most of that revenue comes from wealthy residents: private pay makes up 93.0% of SHOP revenue, which limits exposure to Medicaid budget fights.
SHOP same-store NOI rose 20.5% year over year, same-store occupancy climbed to 89.4% from 86.1%, and RevPOR (revenue per occupied room) grew 5.2%. SHOP expense growth was only about 0.7%, which is why flow-through margins reached the mid-60% range.
Yield and coverage: Welltower raised its quarterly dividend 15% to $0.85, its 221st consecutive quarterly dividend. At the October 1 close, that works out to a forward yield of 1.50%, the lowest on this list. On normalized FFO, the payout is very safe. Full-year guidance was raised to $6.36 to $6.44 per diluted share, and the $3.40 annualized dividend uses about 53% of the midpoint. Leverage finished the quarter at 2.99 times net debt to adjusted EBITDA.
Bull case: Welltower closed $15.5B of gross investments through the first half, including the C$4.1B Amica Senior Lifestyles deal. Much of the newly acquired product was bought at roughly 75% occupancy and about a 20% discount to replacement cost, which leaves room for occupancy gains. As management put it, “Closing an acquisition is not the culmination of the work. It is the moment the work begins.”
Risk: Growth this fast depends on outside capital. Welltower raised $3.9 billion in a single quarter through share issue, OP units and capital recycling. The stock is down 5.61% over the past month, though it is still up 23.57% year to date.
Ventas Pairs Double-Digit SHOP Growth With a Shrinking Debt Load Ventas is steering its portfolio toward SHOP. That segment produced $1.36B of second-quarter revenue, compared with $229M from outpatient medical and research and $125M from triple-net leases. Management expects SHOP to reach 60% of a $60 billion enterprise by year-end.
SHOP same-store cash NOI rose 16.3% year over year, and the U.S. portfolio grew 18%. Average occupancy gained 300 bps (U.S. SHOP gained 360 bps), RevPOR grew 5%, and cash NOI margin expanded 210 bps. Chief Executive Debra A. Cafaro framed the setup directly: “Demographic demand is strong and getting stronger as the baby boomers begin turning 80 this year. Meanwhile, new supply remains at historic lows, setting up a compelling multiyear runway for growth and value creation.”
Yield and coverage: The quarterly dividend is $0.52, up from $0.48 through 2025, and the next payment is due October 15, 2026. The forward yield is 2.48%. Normalized FFO guidance was raised to $3.85 to $3.90 per share, and the $2.08 annualized dividend takes about 54% of the $3.88 midpoint. That is a well-covered payout with room to grow.
Bull case: Net debt to further adjusted EBITDA has fallen to 4.7x from 5.6x a year earlier. Ventas also raised its 2026 investment target to $4.5B from $3B. Its U.S. senior housing portfolio stands at 87% occupied, compared with Welltower’s same-store pool near 89.4%, so Ventas has more occupancy path left before pricing power fully kicks in.
Risk: Ventas is buying at an average expected year-one yield of 6.6%. Funding those deals with stock pays off only while the share price remains strong. The stock has fallen 8.5% in a month, which makes each new share issued more dilutive.
Omega Healthcare Clears the Ultra-High-Yield Bar, With a Bankruptcy Attached Omega is mainly a skilled nursing landlord. Triple-net investments generated $324M of second-quarter revenue, while a new operating portfolio added $5.4M. Omega also makes real estate loans to operators. It is still an equity REIT whose income comes mostly from property leases. Because skilled nursing relies heavily on Medicaid and Medicare, the key number here is operator rent coverage. Trailing 12-month EBITDAR coverage improved to 1.65x from 1.55x, and operator occupancy held at 82.6%.
Yield and coverage: The quarterly dividend rose a cent to $0.68, the highest amount in the company’s recorded dividend history. The payout had been stuck at $0.67 since early 2020. The forward yield is 6.01%, just above the 6% line. Second-quarter AFFO came in at $0.83 per diluted share and FAD at $0.78, both above the quarterly dividend. Full-year AFFO guidance was raised to $3.22 to $3.26 per share, so the annualized dividend uses about 84% of the midpoint. That coverage is adequate, but the buffer is the smallest in this group.
Bull case: Taylor Pickett, the chief executive, who has announced his retirement, said “the long anticipated baby boomer aging is here and is showing up in demand for both SNFs and senior housing.” Leverage is at 3.3 times. Management also said “6-7% annualized FAD growth is eminently achievable.”
Risk: Genesis Healthcare is still in Chapter 11, with $148.5M of Omega loans outstanding. Omega’s guidance assumes Genesis keeps paying $13.3M per quarter in contractual rent. Management expects the buyer to assume the master lease on the same terms, with a closing expected by the end of 2026. If that deal changes, the 84% coverage buffer gets thin quickly.
CareTrust REIT Brings the Strongest Coverage and the Lowest Leverage CareTrust owns 628 properties with 58,775 beds/units. Most are leased triple-net. Skilled nursing rent totaled $81.2M in the second quarter and senior housing triple-net $37.1M, alongside a small SHOP book and $26.8M of interest income from loans. Leases carry 2.5% inflation-based increases. Stabilized EBITDARM coverage stands at 3.21x for skilled nursing and 2.16x for senior housing, with 100% rent and interest collection. Stabilized occupancy is 83.9%.
Yield and coverage: The $0.39 quarterly dividend, paid next on October 15, 2026, yields 4.34%. CareTrust says the dividend represents approximately 76% of normalized FAD. Guidance calls for normalized FAD of $2.01 to $2.04 per share, up 15.1% at the midpoint. The dividend has increased from $0.29 in 2024 to $0.335 in 2025 and to its current level.
Bull case: CareTrust closed $899.6M of investments in the second quarter at an 8.9% combined stabilized yield, its biggest quarter outside M&A. Net debt to run-rate EBITDA was just 1.0 times, the company has no debt due dates before 2028, and Moody’s upgraded it to investment grade. CEO Dave Sedgwick said “there has simply never been a more exciting time for CareTrust.”
Risk: The loan book is growing, and it already produced a cost. CareTrust recorded a $4.67M provision for loan losses in the quarter. Loans carry operator credit risk that a deed to a building does not, so watch reserve levels as the company deploys more capital this way.
Where the Rent Checks Look Safest CareTrust offers the best balance in this group: a 4.34% yield, a payout of roughly 76% of FAD, and the strongest coverage. Welltower and Ventas pay smaller yields but cover their dividends about twice over on FFO, and their SHOP growth is where future increases will come from. Omega pays the most, and the Genesis bankruptcy outcome will determine whether that 6% yield holds.
Contact [email protected] for any questions or corrections.
Rostoucí výnosy amerických státních dluhopisů srazily pět dividendových titulů z energetiky a utilit. Nejlépe chráněné dividendy mají podle článku Kinder Morgan a Duke Energy.
Rising Treasury yields just knocked five pipeline and utility stocks to levels that have income investors asking whether the selloff created a buying window or a warning sign worth heeding.
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The 10-year Treasury yield rose from 4.77% on Sept. 3 to 5.29% on Sept. 30, and income stocks sold off with it. That pushed down prices on five dividend payers that share one income angle: fee-based pipeline contracts and regulated power rates that fund growing dividends, while capital spending shifts toward LNG exports and data-center electricity demand. All five yields below sit under the Treasury, so the case for each depends on dividend safety and growth. Here is how the payouts hold up.
Williams Companies: Pipeline Payout Raised Every Year Since 2018 Williams Companies (NYSE:WMB | WMB Price Prediction) pays an annualized forward dividend of $2.10 per share. At $69.30, that works out to a forward yield of about 3.03%. Shares slipped 7.22% over the past month, and they are still up 17.8% year to date.
Dividend Safety Check The quarterly dividend went from $0.30 in 2017 to $0.34 in 2018, and Williams has raised it every year since. The latest step was from $0.50 to $0.525 in 2026. For a pipeline company, cash flow says more about coverage than earnings do. Williams guided to 2026 AFFO of $6.085 billion to $6.315 billion, while the dividend costs roughly $2.57 billion a year. At the midpoint, AFFO covers the payout about 2.4 times. Measured against trailing EPS of $2.55, the payout ratio is about 82%. Management expects pro-forma leverage of 3.75x debt to EBITDA.
Bull Case Williams raised its 2026 adjusted EBITDA guidance to $8.3 billion to $8.5 billion after agreeing to buy Momentum Midstream for up to $5.5 billion. The deal adds more than 4,000 miles of Haynesville pipe. Management also raised its long-term EBITDA growth target to 11% plus compound annual growth through 2030. On the August call, an executive said: “We do feel well-positioned to exceed 11%.” Phase one of its Socrates power project began delivering 200 megawatts to a data-center customer, and management calls the years ahead “the decade of pipe and power.” Analysts are bullish: 22 of 24 rate it a buy or strong buy, with a consensus target of $85.46.
Risk to Weigh Growth is expensive. Williams plans $7.3 billion to $7.9 billion of 2026 growth capex. Second-quarter capex of $1.834 billion was higher than operating cash flow of $1.376 billion. The Momentum deal also includes $2 billion of equity, which adds shares. At a forward P/E of 27, it is the most highly valued stock on this list.
Kinder Morgan: Highest Yield on the List, Backed by Free Cash Flow Kinder Morgan (NYSE:KMI) pays $1.19 a year on an annualized basis. At $30.42, the forward yield is about 3.91%, the highest of these five. Shares fell 5.23% over the past month. CNBC’s Jim Cramer supported the stock in his Sept. 30 lightning round.
Dividend Safety Check Second-quarter free cash flow was $978 million, compared with a quarterly dividend spending of roughly $662 million. That covers the payout about 1.48 times. Net debt was 3.6x adjusted EBITDA, the low end of the company’s target range, and Moody’s upgraded Kinder Morgan to Baa1 earlier this year. Against the 2026 budget of $1.36 in adjusted EPS, the payout ratio is 87.5%. Management expects to beat that EPS budget by more than 12%. The dividend has gone up in every year from 2021 through 2026, most recently to $0.2975 per quarter.
Bull Case Natural gas transport volumes rose 7% year over year. Kinder Morgan’s project backlog stands at $9.6 billion, with 92% in natural gas and more than 60% tied to power generation and local distribution demand. Second-quarter adjusted EPS of $0.37 beat the $0.3128 estimate, and adjusted EBITDA grew 12% to $2.20 billion.
Risk to Weigh Kinder Morgan has cut its dividend before. The quarterly payout dropped from $0.51 in late 2015 to $0.125 in 2016. Recent raises have been small: the latest increase was 2%. Refined products volumes also fell 5%, and crude and condensate volumes fell 16%.
Duke Energy: Carolinas Utility Near Its 52-Week Low Duke Energy (NYSE:DUK) pays an annualized $4.34 per share. At $113.49, the forward yield is about 3.82%. The stock trades close to its 52-week low of $110.99, well under the $136.11 analyst target.
Dividend Safety Check The quarterly dividend rose to $1.085 from $1.065 in August, and Duke’s records show regular quarterly payments going back to 1999. The payout is about 65% of trailing diluted EPS of $6.64, the most comfortable coverage of the three utilities here. Like most regulated utilities, Duke spends more on its grid than it generates in cash, so earnings coverage and access to capital matter more than free cash flow. Duke closed $5.3 billion of strategic transactions in the first quarter, which strengthened its funding position.
Bull Case Duke reaffirmed 2026 adjusted EPS guidance of $6.55 to $6.80 and targets 5% to 7% annual adjusted EPS growth through 2030. It has signed 7.6 GW of economic-development projects under electric service agreements, and retail electric customers grew 1.4%. Second-quarter adjusted EPS of $1.43 beat the $1.3062 estimate. At a forward P/E of 16, Duke is the cheapest utility on this list.
Risk to Weigh Interest expense and depreciation are rising as the asset base grows. Coal-ash remediation costs remain uncertain, and data-center load could come in below expectations.
Southern Company: Data Centers Are Lifting Commercial Power Sales Southern Company (NYSE:SO) pays an annualized $3.04 per share. At $83.20, the forward yield is about 3.65%. Shares are down 9.34% over the past year and sit close to the 52-week low of $81.69.
Dividend Safety Check Southern raised its quarterly dividend in every year from 2021 through 2026, from $0.64 to the current $0.76. The payout is about 73% of trailing EPS of $4.15, which is normal for a regulated utility. Earnings power is growing: second-quarter GAAP net income rose 33.41% to $1.174 billion.
Bull Case Commercial electricity sales rose 7.3% on data-center demand, and wholesale sales climbed 9.2%. Adjusted EPS of $1.13 beat the $1.00 estimate. With Vogtle fully in service, Georgia Power has a larger rate base to earn on. The forward P/E of 17 is below the trailing figure of 20, which means analysts expect earnings to grow.
Risk to Weigh First-quarter interest expense reached $778 million, up from $714 million, and Southern Power expects about $205 million in remaining pre-tax repowering charges in 2026. Analysts are cautious too: 13 rate the stock a hold and 3 rate it a sell or strong sell.
OGE Energy: Ex-Dividend Date Is Days Away OGE Energy (NYSE:OGE) pays an annualized $1.715 per share. At $45.67, the forward yield is about 3.76%. Its newly raised $0.42875 quarterly dividend goes ex-dividend on Oct. 5 and will be paid on Oct. 30.
Dividend Safety Check OGE’s records show a dividend increase every year since 2015, when the quarterly payout was $0.25. The annualized dividend equals about 71% of 2026 EPS guidance of $2.43. On the July call, CFO Chuck Walworth said: “We have completed all planned financing activities for 2026 and continue to target credit-supportive metrics including maintaining FFO to debt of approximately 17% over the planning horizon.”
Bull Case OGE set a new all-time peak load of more than 6,800 megawatts. It filed a Google special contract in Oklahoma on May 1 and has six or seven large-load negotiations underway. Its proposed large-load tariff requires data centers to pay 100% of their grid connection costs upfront and sign a minimum 15-year commitment, which protects existing ratepayers. OGE expects to add 550 megawatts of capacity in 2026.
Risk to Weigh Dividend growth has nearly stalled. The latest raise was about 0.88%. Weather also affects results: first-quarter net income fell 19.94% after a mild winter. With a market cap of $9.43 billion, OGE is also much smaller and less diversified than Duke or Southern.
Five Payouts Funded by America’s Growing Power Demand The jump in Treasury yields to 5.29% drove these five stocks lower, while the contracts and rate bases that pay their dividends stayed intact. Williams and Kinder Morgan move the natural gas that LNG terminals and new power plants need. Duke, Southern, and OGE sell the electricity that data centers and new factories use. Kinder Morgan’s free cash flow coverage and Duke’s 65% payout ratio stand out as the strongest dividend protection in the group, while Williams offers the fastest growth behind its payout.
The data-center power build is the thread tying these five payouts together, and the chip names are only part of that trade. We featured seven suppliers on the power, cooling, and networking side of the AI expansion in a free report you can download here: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers).
Contact [email protected] for any questions or corrections.
Nike klesá o 8 % po zklamání z tržeb, slabém výhledu a oznámení propouštění. Tržby za fiskální 1. čtvrtletí 2027 činily 11,21 mld. USD, pod odhadem 11,32 mld. USD.
Nike is cratering on earnings while rivals Lululemon and On Holding barely flinch, raising a pointed question about whether the sportswear giant is fighting a problem unique to itself or simply the first to feel an industry-wide reckoning.
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Nike (NYSE:NKE | NKE Price Prediction) is taking a company-specific hit to its turnaround story, while the rest of athletic apparel holds largely steady. Shares of Nike are down 8% to $32.34 in morning trading after fiscal 2027 first-quarter results showed a revenue miss, a weak outlook and job cuts. Nike stock was already trading near its 52-week low.
Meanwhile, shares of Lululemon (NASDAQ:LULU) are nearly unchanged at $95.85. On Holding (NYSE:ONON) stock trades at $30.18, also practically unchanged and showing no signs of contagion.
The Consumer Discretionary Select Sector SPDR ETF (NYSEARCA:XLY) is unchanged at $108.81, showing the damage is confined to Nike. The SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) is up 1% to $771.34, so the broad equities market is holding up well.
Nike carries a weight of just 1.2% in the XLY sector fund, so the drop barely moves it.
Revenue Miss and Job Cuts Drive Nike Lower Nike’s quarterly revenue came in at $11.21 billion, missing the $11.32 billion consensus and falling 4.3% year over year. Diluted earnings came in at $0.48 per share, ahead of expectations, on a wider gross margin.
The heavier blow came from Nike’s fiscal 2027 outlook, which calls for revenue to decline by a high-single-digit percentage.
Nike also unveiled Pace, an overhaul targeting $2.5 billion in cumulative savings through fiscal 2031 at a cost of $1 billion in pre-tax charges, mostly employee-related. Chief Executive Officer Elliott Hill wrote in a letter to employees: “This work will result in fewer roles across Nike, and I want to acknowledge that news like this creates uncertainty. I don’t take that lightly.” Decisions on affected roles are expected to begin next calendar year and beyond.
Lululemon and On Holding Hold Their Ground Lululemon stock is down 54% year to date, a slide that deepened after the company cut its full-year guidance in September. During the earnings call, Lululemon executives traced the company’s weakness to brand sentiment and traffic, stating, “We’re not pointing to macro specifically as a key issue.” That framing helps explain why Nike’s warning leaves Lululemon steady.
On Holding stock is down 35% year to date, yet its recent results look far healthier than Nike’s. Net sales rose 13.5% in the latest quarter, while gross margin expanded to 65.4%, moving management to lift its full-year floor to at least 65%. That momentum gives it little reason to track Nike lower.
Dick’s Sporting Goods (NYSE:DKS) offers a retail-channel read. In August, the retailer’s chief executive cited “growing pressure across portions of the athletic footwear and apparel marketplace,” while Dick’s executives described running and performance product as healthy. Nike’s call reflected that split, with its performance business growing at a high-single-digit pace as Nike Sportswear declined by a low-double-digit percentage.
Nike’s Investor Day Shapes the Next Move Nike stock is now down 48% year to date. Hill stated that Nike has “more work to do in NIKE Sportswear, Jordan Brand and Greater China,” and management expects pressure there could remain into fiscal 2028. More detail on Pace and longer-term targets is due at its investor day in November.
Nike still has supports, including its performance business, wider gross margin and quarterly dividend of $0.41 per share, though the dividend offers limited buffer in a multiyear turnaround. Investors should size holdings carefully given falling revenue guidance and Pace savings that mostly arrive in fiscal 2029 and 2030.
Lululemon shareholders should weigh the company’s lowered full-year outlook, which calls for revenue to fall 5% to 7%. On Holding looks stronger, though Section 301 tariffs imposed in July could lift costs, so stakes there may warrant moderation. Dick’s remains a useful channel check on how quickly Nike’s lifestyle inventory sells.
Contact [email protected] for any questions or corrections.
Amphenol ve 2. čtvrtletí zvýšil tržby divize Communications Solutions o 85 % na 5,38 miliardy USD; tato divize táhne růst díky poptávce po AI infrastruktuře. Pro 3. čtvrtletí čeká další středně desítkový mezikvartální růst.
Key Takeaways Amphenol's Communications Solutions revenues surged 85% year over year to $5.38 billion.AI-related products drove virtually all sequential IT datacom growth, with Q3 gains expected.CommScope is now expected to generate $4.6 billion in 2026 sales, up from $4.1 billion. Amphenol (APH - Free Report) is benefiting from robust growth in its Communications Solutions segment, supported by accelerating demand for high-speed interconnect products used in AI infrastructure and contributions from its acquisition program. In the second quarter of 2026, Communications Solutions revenues surged 85% year over year to $5.38 billion and increased 42% organically. The segment accounted for roughly 62% of Amphenol’s total revenues, making it the company’s largest growth engine. The year-over-year growth was primarily driven by outsized IT datacom growth, particularly AI-related applications, alongside strength in industrial, mobile devices and automotive markets.
AI infrastructure remains the biggest growth engine and is helping the company fight off competition from the likes of TE Connectivity (TEL - Free Report) and Bel Fuse (BELFB - Free Report) . IT datacom represented 43% of Amphenol’s second-quarter sales, with revenues rising 89% year over year and 63% organically. Sequentially, IT datacom revenues climbed 22%, with virtually all of the sequential growth stemming from AI-related products. APH expects another mid-teens sequential increase in the third quarter of 2026, supported by accelerating investments in AI data centers and stronger enterprise and cloud demand for traditional IT datacom equipment.
Amphenol’s broad portfolio across high-speed copper, fiber-optic and power interconnects is strengthening its exposure to the AI buildout. The company noted that customers increasingly require all three technologies as computing architectures become denser and more power-intensive. The CommScope acquisition is further strengthening Communications Solutions, particularly in optical interconnects. CommScope generated slightly more than $1.2 billion in second-quarter sales, while its IT datacom business nearly doubled year over year. Amphenol now expects CommScope to generate $4.6 billion of sales in 2026, up from its earlier expectation of $4.1 billion.
Higher Communications Solutions revenues are also supporting profitability. Segment operating margin expanded to 33.6% in the second quarter of 2026 from 30.6% a year earlier, benefiting primarily from operating leverage on significantly higher organic volumes. This combination of accelerating AI connectivity demand, rising optical exposure through CommScope and strength across several other end markets should continue to support Communications Solutions as an important growth driver for Amphenol.
For the third quarter of 2026, APH expects sales of $9.3-$9.4 billion. The range implies year-over-year growth of 50-52%, assuming current market conditions and constant exchange rates. Adjusted earnings are projected between $1.40 and $1.42 per share, indicating growth of 51-53% from the prior-year quarter.
How Rivals Stack Up Against APHTE Connectivity is challenging Amphenol across high-speed data and power connectivity by expanding its exposure to AI infrastructure. TEL’s Digital Data Networks (DDN) business is benefiting from hyperscaler investments in GPU clusters, with year-to-date DDN orders up more than 70%. In the third quarter of fiscal 2026, DDN sales increased 34% year over year, supported by demand for high-speed copper connectivity, while higher-voltage architectures are expanding opportunities in power connectivity. TE Connectivity estimates that power already represents roughly one-third of its DDN business, giving it exposure to both data transmission and rising power requirements inside AI racks.
Bel Fuse is a smaller but growing challenger. The company’s Industrial Technology & Data Solutions (ITDS) segment includes power supplies, fuses, integrated connector modules and transformers used in networking, data centers and AI applications. In the second quarter of 2026, ITDS revenues jumped 31.1% year over year to $100.2 million, while Data Solutions revenues surged 55%, aided by the beginning of a ramp tied to high-performance computing project wins. The dataMate acquisition also expanded Bel Fuse’s Data Solutions portfolio.
APH’s Share Price Performance, Valuation & EstimatesAmphenol’s shares have surged 24.8% year to date, outperforming the broader Zacks Computer & Technology sector’s return of 21.8%.
APH Stock’s Price Performance
Image Source: Zacks Investment Research
Amphenol shares are trading at a premium, as suggested by a Value Score of D. In terms of the forward 12-month price-to-earnings (P/E), APH is trading at 27.47X, higher than the broader sector’s 19.95X.
APH Stock is Overvalued
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Amphenol’s 2026 earnings is pegged at $2.66 per share, up three cents over the past 30 days. The figure indicates a 59.3% jump year over year.
APH currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Paychex beat earnings estimates for the fourth straight quarter, then watched its stock crater anyway as investors zeroed in on a single line item that raised uncomfortable questions about what it actually costs to keep shareholders happy.
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Paychex (NASDAQ: PAYX | PAYX Price Prediction) beat on the top and bottom lines on Wednesday, Sept. 23, but the stock had its worst session in more than a year. Shares fell 7.18% intraday to $106.31, and investors are focused less on the beat and more on the check that got written to shareholders.
More than a week later, that loss has increased to 5%, dragging the stock’s year-to-date loss down to 7.71%, and its one-year loss to nearly 21%. Why? Paychex sent $424.1 million out the door in dividends against $429.7 million of net income. That is almost the entire quarter.
A Beat With a Very Expensive Payout Adjusted EPS came in at $1.34 versus $1.32 consensus, the fourth consecutive quarter of beating EPS estimates. Revenue of $1.63 billion grew 5.9% year over year. GAAP operating margin expanded to 38.0% from 35.2% as Paycor integration costs faded.
PEO and Insurance Solutions was the standout, up 12% on strong worksite employee growth. Management raised full-year PEO growth guidance to 7% to 8% and interest on client funds to $200 million to $210 million.
Cash Line That Spooked Investors Operating cash flow was $413.5 million, down 42.44% year over year, which management attributed to the timing of client and corporate tax payments. Cash and equivalents fell to $600.9 million, down 25.7% year over year. Cash used in financing was $906.6 million. Fair caveat: fiscal Q1 is Paychex’s seasonally lightest quarter, and float-driven working capital swings are normal at a payroll processor. You’ll want to see full-year coverage in the 10-Q before drawing hard conclusions about sustainability.
Key Figures Adjusted EPS: $1.34 vs. $1.32 expected Revenue: $1.63 billion, up 5.9% Operating margin (GAAP): 38%, up from 35.2% Net income: $429.7 million, up 11.96% Operating cash flow: $413.5 million, down 42.44% Dividends paid: $1.19 per share, $424.1 million total The dividend was raised roughly 10% to $1.19 earlier this year. The stock’s forward yield sits above 4%. That is the number income investors are buying (the whole point of a dividend ladder is never having to sell a share to pay the bills, and we walked through how to build one in a free guide here).
Gibson Points to AI and Advisory CEO John Gibson said Paychex “delivered a solid start to total revenue growth in fiscal 2027, with double-digit PEO and Insurance Solutions revenue and EPS growth underscoring the strength of our advisory solutions.” On AI, he pointed to “compelling early adopter results from our award-winning WISE engine and the introduction of WISE Hire, our agentic recruiting solution.” CFO Bob Schrader added, “This quarter we returned $424 million to shareholders through cash dividends.”
What Income Investors Should Watch Next Full-year adjusted EPS growth guidance held at 7% to 9%, so the annual math still works on paper. I’d keep an eye on Q2 revenue growth, which management pegged at approximately 4% against a tough compare, and on operating cash flow trends once the 10-Q lands. Jim Cramer previewed the quarter saying Paychex had a “full head of steam.” PAYX’s performance over the past week disagrees.
Contact [email protected] for any questions or corrections.
Exelon čeká na rozhodnutí regulátora k plánu ComEd za 15,3 miliardy USD do 15. prosince; zamítnutí by mohlo zpomalit růst dividendy nebo přinutit k vydání nových akcií.
Exelon's dividend yield has climbed to its most attractive level in years, but a single regulatory decision this December could determine whether that income stream grows, stalls, or forces a flood of new stock onto the market.
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Exelon (NASDAQ:EXC | EXC Price Prediction) trades at $40.35. That is down 6.82% over the past month and 7.05% over the past year, and the slide has raised the dividend yield to 4.07%. When a yield rises because the price fell, income investors need to know what pays the $1.68 forward annual dividend.
A Wires-Only Business Paid by Regulators Exelon is a pure regulated wires company. It runs six regulated transmission and distribution utilities: ComEd, PECO, BGE, and PHI’s Pepco, Delmarva Power and Atlantic City Electric. Regulators approve a “rate base” (the value of poles, wires, and substations) and allow a set return on it. When Exelon builds more grid and wins approval, earnings grow. Fuel prices and recessions matter far less than for most companies, so cash flow is unusually predictable.
In 2025, Exelon earned a 9.7% operating ROE, and it targets 9-10%. Its rate base is expected to grow from $64.6B in 2025 to $87.4B in 2029, a 7.9% CAGR. That growth supports guidance for 5% to 7% annual EPS growth through 2029.
Coverage Sits Right on Target Trailing dividends of $1.64 against EPS of $2.74 yield a payout ratio of about 60%. The forward dividend uses about 59% of the midpoint of 2026 guidance, which is $2.81-$2.91.
Company Yield Trailing Payout Forward P/E Exelon 4.07% 60% 14 Duke Energy (NYSE:DUK) 3.73% 64% 16 Southern Company (NYSE:SO) 3.57% 72% 17 Exelon offers the highest yield and lowest payout ratio of the three, trading at the cheapest multiple. Its track record is shorter. The quarterly dividend fell from $0.3825 in 2021 to $0.3375 in 2022 after the generation spinoff, then rose to $0.36, $0.38, $0.40 and $0.42. Management guides for about 5% annual dividend growth.
Borrowed Money Fills the Capex Gap In 2025, operating cash flow of $6.25B covered dividends of $1.62B about four times over but fell short of capex of $8.53B. Financing brought in $2.53B. Interest expense grew from $1.73B in 2023 to $2.13B in 2025. Exelon needs $3.4B of equity through 2029, with ~37% already priced. Management said in July:
“Maintaining a strong balance sheet is core to our strategy and essential to funding the investments needed to deliver safe, reliable, and affordable service for our customers.”
State Regulators Hold the Key Credit pressure is showing. Moody’s placed PECO under review for downgrade, and S&P downgraded BGE. Exelon dropped a Pennsylvania rate case. ComEd’s $15.3 billion grid plan faces an order by December 15th.
“If critical work is deferred for too long, customers ultimately pay the price through more outages, more costly repairs, and higher long-term costs.”
Data center demand gives Exelon room to grow. After speculative projects were removed, the pipeline fell to 36 gigawatts from 43. Signed agreements cover four gigawatts, backed by a billion dollars of collateral. Management added: “We have not put in speculative projects.”
One Scenario Puts the Payout at Risk The dividend is durable. Regulated rate base growth pays for it, and the payout ratio is at target. The danger is a holding-company downgrade if Illinois or Pennsylvania regulators deny cost recovery, earned ROE falls below 9%, and interest costs keep rising. Exelon targets credit metrics of about 14%, leaving 100-200 bps of room above downgrade levels. If that buffer goes away, Exelon would slow dividend growth or issue much more stock. The ComEd order on December 15 is the first test.
Contact [email protected] for any questions or corrections.
Quant Network uvedl QNT na Solanu přes Sunrise a Raydium, čímž rozšířil token z původního nasazení na síti Ethereum jako ERC-20. QNT je nyní na Solaně dostupný ke spotovému obchodování.
Quant Network, a leading enterprise blockchain company and the developer of the Overledger platform, has introduced its QNT token on the Solana blockchain. This launch marks a significant cross-chain expansion, positioning QNT within one of the most active layer-1 ecosystems in the crypto space.
QNT debuts on Solana through Sunrise and RaydiumThe integration is powered by Sunrise, an interoperability provider focused on facilitating asset transfers between blockchains. As part of the launch, QNT can now be traded on Solana’s leading decentralized exchange, Raydium, giving users access to high-speed trading and low fees offered by the Solana network. The move extends QNT beyond its original Ethereum ERC-20 deployment, where liquidity has so far been concentrated among centralized pools.
Raydium is known as an automated market maker and liquidity provider within the Solana ecosystem, allowing tokens to be traded with minimal slippage and near-instant settlement.
Mini dictionary: Raydium is a decentralized exchange on Solana, offering automated liquidity for token trading with a focus on speed and efficiency compared to traditional blockchain DEXs.
In a post on X, Sunrise confirmed the availability of QNT for spot trading on Raydium, highlighting the ease with which holders can now access the Solana ecosystem. Solana’s high-throughput design and low transaction costs make it attractive for both token holders and developers interested in experimenting with multi-chain strategies.
Institutional momentum and the role of The Clearing HouseQuant’s expansion onto Solana comes at a time when the company has gained traction in traditional finance circles. On September 24, 2026, The Clearing House, a central operator of US payment infrastructure including CHIPS and RTP, entered into a partnership with Quant to explore the use of tokenized commercial bank money via their On-Chain Money Initiative.
The Clearing House is responsible for facilitating payment systems that process trillions of dollars annually, making its alliances crucial for the ongoing convergence between traditional finance and digital assets. This collaboration aims to develop regulatory-compliant settlement methods for tokenized bank deposits in the US.
Although the On-Chain Money Initiative is unrelated to Solana specifically, Quant’s dual effort in institutional and public blockchain integration illustrates the company’s two-pronged approach. Details about participating banks, the value of contracts involved, and the potential impact on QNT demand remain undisclosed. The initiative is scheduled to conclude by 2027, with further updates expected as development progresses.
Trading opportunities and ecosystem impactIn late September, Solana DEX volumes reached over $2 billion per day, according to DeFiLlama, making it a prime venue for active trading. The launch opens doors for QNT holders to new trading routes, especially between Ethereum and Solana, potentially presenting arbitrage opportunities for traders and multichain flexibility for institutions managing regulated digital assets custody.
For Solana, the addition of QNT as an enterprise-linked asset introduces a novel dimension to its network, which has been widely associated with retail activity and memecoin interest. It highlights an industry trend towards integrating regulated institutions with permissionless blockchain technology.
“Bridge exploits cost the crypto industry more than $2.8 billion last cycle, underlining the importance of robust security and interoperability as more assets cross between networks,” Sunrise stated.
With QNT opening above $400 before retreating to $250 in late September, price action around the launch reflected heightened attention and a surge in market activity. Strategic focus now shifts to how Raydium’s liquidity, bulk orders via Jupiter, and ongoing collaborations such as Exinity’s with Binance will influence the Solana-based QNT market.
As the technical framework for the institutional side emerges over the coming months, developers and investors alike are watching how QNT’s growing multi-chain strategy might shape its relevance within the broader industry.
Rapid7 spustila Rapid7 Intelligence, jednotný AI engine pro přechod od reaktivního monitoringu k proaktivní prevenci útoků. Firma zároveň uvedla, že její výzkumníci odhalili modulární linuxový malware mířící na telekomunikační a síťová edge zařízení.
BOSTON, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Today, Rapid7, Inc. (NASDAQ: RPD), a global leader in AI-powered managed cybersecurity operations, announced the launch of Rapid7 Intelligence, a unified engine designed to transform enterprise threat defenses from reactive monitoring to proactive prevention. By combining threat intelligence, vulnerability research, and the legacy of Rapid7 Labs, Rapid7 Intelligence transforms insights on attacker behavior into AI-powered action to help organizations anticipate and disrupt attacks.
Indicators Expire. Behavior Doesn't: Defense for the Agentic Era.
Building on Rapid7 Labs’ 13-year legacy, Rapid7 Intelligence turns attacker behavior into scalable protection faster than traditional vendors reliant on static indicators. With AI compressing exploitation windows to minutes—and 8,539 critical vulnerabilities tracked in Q2 alone—attackers are leveraging automation to scale phishing, reconnaissance, and script development. Rapid7 Intelligence monitors these threats in real time to deliver actionable, expert-validated insights that keep defenders ahead.
"Static threat intelligence isn't completely dead—it's just sitting in standard dashboards doing what it's always done, giving organizations a false sense of security while autonomous threat agents burn down their perimeters," said Christiaan Beek, Vice President of Rapid7 Intelligence. "The real differentiator isn't hoarding more raw feeds; it's having curated, vetted intelligence focused relentlessly on true signals rather than waiting around for alerts to trigger after the damage is done. Rapid7 Intelligence isn't built to generate another 50-page PDF report for security teams to ignore; it aggressively converts real-time operational adversary insight into a proactive, preemptive shield."
Rapid7 Intelligence in Action: Behavioral Correlation Exposes a Hidden Linux Malware Ecosystem
A concrete illustration of Rapid7 Intelligence's power is a new finding from Rapid7 researchers, who uncovered a modular Linux malware ecosystem—spanning new BPFDoor variants, BPF Rekoobe, droppers, and AVERAT implants—actively targeting telecom and network-edge devices.
Researchers identified two campaigns linked by a common focus on the network edge. Rapid7 Intelligence analyzed their shared behaviors, uncovering an emerging pattern: using SMTP to blend into the victim’s DMZ, target mail security appliances, and maintain long-term access.
New BPFDoor variants indicate the malware family is evolving into an ecosystem where each sample is tailored to the telco plane (control, management, and data plane) it targets, and where threat actors know exactly what software is adopted at each layer.
Rapid7 Intelligence will continue tracking and disrupting tactics like this to keep defenders ahead of attackers.
Expert-Led, Actionable Intelligence
To continuously power research like this and help defenders stay ahead of emerging threats, Rapid7 Intelligence delivers:
Immediate Protective Force: Frontline intelligence bypasses legacy research lags, flowing directly into Rapid7 products, MDR, and Exposure Management to neutralize adversary infrastructure before attacks execute.Unified Intelligence Engine: Threat intelligence, vulnerability analysis, and engineering inside the products customers already run, instead of a report they have to translate into action themselves.Uncompromised Community Arsenal: Building on the legendary foundation of Metasploit and Rapid7 Labs, critical advisories, vulnerability research and exploitation insights remain open, ensuring the industry stays capable of pushing back.
“In a world of infinite telemetry and automated attacks, playing defense with traditional tools is an exercise in futility,” said Mel Stone, Chief Global Services Officer at Rapid7. “Rapid7 Intelligence shifts the balance of power. By fusing machine-scale observation with frontline human expertise, we turn raw threat data into immediate, actionable intelligence—empowering security teams to disrupt adversaries before they establish a foothold.”
To learn more about Rapid7 Intelligence, visit here.
About Rapid7
Rapid7, Inc. (NASDAQ: RPD) is a global leader in AI-powered managed cybersecurity operations, trusted to advance organizations’ cyber resilience. Open and extensible, the Rapid7 Command Platform integrates security data, enriching it with AI, threat intelligence, and 25 years of expertise and innovation to reduce risk and disrupt attackers. As a recognized leader in preemptive managed detection and response (MDR), Rapid7 unifies exposure and detection to transform the cybersecurity operations of more than 11,500 customers worldwide. For more information, visit our website, check out our blog, or follow us on LinkedIn or X.
Media Contact
Christine Nurnberger
SVP Global Marketing and Growth [email protected]
Rapid7 Investor Contact
Christopher Keenan
Vice President, Deputy General Counsel [email protected]
Cardano Foundation oznámila partnerství se společností Pacific Meta, které má urychlit firemní adopci blockchainu v Japonsku. ADA se zároveň drží nad 0,254 USD a denní aktivní adresy vyskočily za týden z 15 588 na více než 27 500.
Key Highlights ADA maintains trading levels above $0.254, securing its position over the 200-day EMA at $0.240. A strategic partnership between Cardano Foundation and Pacific Meta aims to accelerate blockchain adoption across Japanese enterprises. Network engagement surged dramatically, with daily active addresses climbing from 15,588 to more than 27,500 within seven days. Positive funding rates emerge, while futures market data reveals potential overheating and cautious bearish sentiment. Market analyst Crypto Patel forecasts potential price objectives of $1, $3, and $5 contingent on sustained support levels. Cardano’s price action on Friday shows strength above the $0.254 mark. The cryptocurrency has successfully recovered ground above a critical support threshold following challenging conditions experienced during the earlier months of 2025.
Cardano (ADA) Price The resurgence in market attention stems partly from a significant corporate development. On Thursday, the Cardano Foundation unveiled a strategic collaboration with Pacific Meta.
Cardano is deepening its enterprise presence in Japan. 🇯🇵
We’re partnering with @PacificMeta to combine Cardano infrastructure with local market expertise and enterprise integration, helping Japanese companies bring real-world blockchain use cases to life.
Less talk about… pic.twitter.com/mEypDVTHx3
— Cardano Foundation (@Cardano_CF) October 1, 2026
This alliance focuses on accelerating enterprise-level blockchain integration throughout Japan. The Cardano Foundation outlined its objectives through an official statement on X.
“Through our collaboration with Pacific Meta, we’re merging Cardano’s robust infrastructure with specialized local market knowledge and enterprise-grade integration capabilities, enabling Japanese corporations to implement practical blockchain applications,” the Foundation stated.
Network Engagement Shows Strong Growth The metric of daily active addresses provides insight into actual blockchain utilization. Cardano’s figures in this category demonstrate notable expansion.
Data from Santiment indicates daily active addresses reached 27,548 on Thursday. This represents a significant increase from the 15,588 recorded one week prior. Friday’s figures maintained levels close to 26,800.
An increase in active addresses typically indicates expanding network utilization. This metric is commonly interpreted as a favorable indicator for token valuation prospects.
Funding rates have also shifted into positive territory this week, registering 0.0037% on Friday. This indicates that traders holding long positions are compensating short position holders, reflecting optimistic market sentiment.
However, not all indicators suggest upward momentum. Analysis from CryptoQuant reveals substantial whale activity within ADA’s futures markets, though with predominant selling pressure. Spot market conditions also display characteristics of overextension, suggesting traders should exercise prudence.
Technical Analysts Outline Ambitious Price Objectives Cryptocurrency analyst Sssebi posted technical analysis on X highlighting ADA’s consolidation pattern above a previously breached resistance zone. “This pattern typically demonstrates strong bullish characteristics and could lead to a significant upward movement,” Sssebi noted, suggesting the next leg could drive ADA beyond $0.30.
$ADA keeps consolidating above the resistance area it broke out of and is now using it as support.
This is usually very bullish and we could see a nice pump from here.
Hopefully the next move is above $0.30 pic.twitter.com/H5z5qygxBP
— Sssebi🦁 (@Sssebi) October 2, 2026
Meanwhile, analyst Crypto Patel presented an extended outlook for ADA through X. Patel characterizes ADA as currently residing in an accumulation phase, citing three technical indicators: sustained weekly support levels, preservation of the Fibonacci “golden pocket” zone, and successful reclamation of the $0.235 threshold.
Everyone Sold $ADA At -94%. Smart Money Bought It.
The Weekly Order Block Is Defended, The Golden Pocket Held, And $0.235 Is Reclaimed. The Same Demand Zone Sat Under The 2021 Run.
“The weekly order block remains defended, the golden pocket zone held firm, and the $0.235 level has been reclaimed,” Patel explained.
Patel’s technical analysis identifies a support corridor spanning $0.14 to $0.20, which the analyst designates as a “bullish order block.” Historical data within the chart demonstrates ADA previously rallied over 87% after rebounding from this identical zone during the June through September timeframe.
The analyst’s price objectives include $1, $3, and $5 levels. Achieving the $1 milestone would represent approximately a 292% appreciation from present values. The chart additionally features an extended projection approaching $10, though this extends beyond Patel’s primary targets.
Patel identified a critical invalidation threshold: any weekly close beneath $0.137 would nullify the bullish scenario.
From a technical perspective, Cardano maintains its position above the 50-day EMA at $0.220, the 100-day EMA at $0.212, and the 200-day EMA at $0.240. The Relative Strength Index registers approximately 63, positioned slightly above neutral range.
Near-term support is established at $0.245 and the 200-day EMA at $0.240. The subsequent resistance barrier stands at $0.299, where a daily close above this threshold would be necessary to sustain the ongoing recovery trajectory.
Teradyne ve 2. čtvrtletí 2026 zvýšil tržby z testování pamětí na rekordních 212 mil. USD, už třetí čtvrtletí po sobě nad 200 mil. USD. Firma navíc uvedla Magnum E2 pro LPDDR6, DDR6, GDDR7 a NAND.
Key Takeaways Teradyne's memory revenues hit a record $212M in Q2 2026, its third straight quarter above $200M. Magnum E2 supports LPDDR6, DDR6, GDDR7 and NAND, combining memory and logic testing on one platform. TER expects the 2026 memory test TAM to be more than 40% larger than 2025 due to HBM, DRAM and NAND growth. Teradyne (TER - Free Report) is benefiting from rising demand for advanced memory testing, supported by strong high-bandwidth memory (HBM), DRAM, and NAND requirements tied to artificial intelligence (AI) infrastructure. The company’s expanding memory test portfolio, led by Magnum platforms, strengthens its competitive positioning in the broader semiconductor test-equipment market against KLA (KLAC - Free Report) and Cohu (COHU - Free Report) . Teradyne noted that Magnum testers combine memory and logic-test capabilities, providing memory manufacturers with attractive swing-tool flexibility.
Memory has emerged as an important growth engine for Teradyne. In the second quarter of 2026, memory revenues reached a record $212 million, marking the third consecutive quarter above $200 million. Growth was driven by robust demand for HBM and DRAM test solutions, as well as a recovery in NAND. Memory book-to-bill exceeded 2, indicating solid demand visibility. Management expects the 2026 memory test TAM to be more than 40% higher than 2025, supported by HBM, DRAM and NAND growth.
Further expanding its memory test portfolio, Teradyne recently launched Magnum E2, a next-generation high-speed memory test system designed to address growing test requirements driven by artificial intelligence and high-performance computing. Built on the company’s Near-DUT Test architecture, Magnum E2 supports advanced DRAM and flash interfaces, including LPDDR6, DDR6, GDDR7 and NAND flash. The platform offers higher parallelism, improved signal integrity and support for NRZ, PAM3 and PAM4 signaling. It also combines memory and logic testing on a single platform, helping manufacturers simplify testing while supporting qualification through high-volume production.
Rising memory bit production and technology transitions such as HBM3 to HBM4, DDR5 to DDR6 and next-generation flash should further increase test requirements, supporting Teradyne’s ability to expand its memory-testing footprint. Management expects memory revenues to grow in the second half compared to the first half.
How Competitors Fare Against TERTeradyne is facing stiff competition from companies such as KLA and Cohu. Both companies are expanding their footprint in the semiconductor industry.
KLA is benefiting from strong semiconductor demand, driven by accelerating investments in AI infrastructure, leading-edge foundry/logic, memory and advanced packaging. In the fourth quarter of fiscal 2026, revenues reached a record $3.66 billion, increasing 15% year over year and 7% sequentially. Management attributed the performance to rising AI infrastructure investments and greater process-control intensity across memory and advanced packaging.
Cohu’s improving semiconductor test demand and expanding exposure to AI computing, HBM inspection and software remain noteworthy. Growth in AI workloads is driving demand for HBM, and Cohu has established a position in this market through its Neon inspection platform. Cohu is extending its Neon inspection platform across HBM3, HBM4 and HBM4E production while investing in HBM5 and later generations.
TER’s Share Price Performance, Valuation and EstimatesTeradyne shares have surged 114.8% year to date, outperforming the Zacks Computer & Technology sector’s 22.4% growth and the Zacks Electronics - Miscellaneous Products increase of 43%.
TER Stock Performance
Image Source: Zacks Investment Research
TER stock is trading at a premium with a forward 12-month Price/Sales of 11.18X compared with the Electronics - Miscellaneous Products industry’s 7.74X. TER has a Value Score of D.
TER Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $9.11 per share, which has been unchanged over the past 30 days. This suggests 130.05% year-over-year growth.
Teradyne currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Integra LifeSciences oznámila získání navrhovaného sedmiletého zajištěného úvěru Term Loan B v objemu 600 milionů USD. Prostředky mají refinancovat stávající dluh a prodloužit splatnosti.
PRINCETON, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today announced the launch of a proposed $600 million seven-year Senior Secured Term Loan B as part of a broader refinancing transaction.
The Company intends to use the net proceeds from the Term Loan B, together with other sources of financing, to refinance certain of its existing indebtedness and pay associated fees and expenses.
“This transaction allows us to refinance our existing debt, extend maturities and maintain financial flexibility. It positions us well as we continue to focus on disciplined capital allocation and deleveraging,” said Lea Knight, Executive Vice President and Chief Financial Officer.
The proposed financing is expected to be completed in conjunction with a refinancing of the Company’s existing capital structure, subject to market and other customary conditions. There can be no assurance as to whether or when the financing will be completed, or as to the final size, terms, or pricing of the transaction.
About Integra LifeSciences
Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed financing transaction, expected use of proceeds, capital structure, liquidity, leverage and financial flexibility. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those described. Integra undertakes no obligation to update any forward-looking statements except as required by law.
Viking Therapeutics po silných výsledcích studie pro lék VK2735 emitovala nové akcie a nyní se obchoduje pod emisní cenou 35 USD. Rozředění sníží zisk na akcii zhruba o 7,2 %.
Viking Therapeutics (VKTX -6.41%) stock soared after the release of excellent top-line results from a maintenance study of its weight-loss drug VK2735, and the company promptly moved to ultimately raise $575 million via a supplementary public offering of common stock ($316.2 million worth at $35) and $258.8 million in convertible senior notes. However, the stock now trades below the $35 price of this latest common equity offering. Is it worth buying?
On balance, the answer is: If you were bullish on the stock before the top-line results came out, it makes sense to buy it now, too.
Image source: Getty Images.
Let's run some simple numbers. At the time of writing, Viking's stock is up only 8.4% from the day before the results announcement. However, the share count before the stock offering was 116.6 million, and the company closed on another 9 million shares. The increase in share count dilutes existing shareholders, and you can pencil in a rough reduction in earnings per share of about 7.2%, or 0.928 of its previous level.
However, the share price rose 8.44%, so earnings per share per dollar invested at the current share price have also changed. You can calculate this by dividing 0.928 by 1.084 (the increased share price), which gives 0.856, a 14.4% reduction.
In plain English, assuming the same earnings, the earnings yield per dollar invested at today's price will be 14.4% lower.
Premium Feature
Moneyball Superscore
69/100
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So is Viking Therapeutics stock a buy? While the top-line results were excellent, they didn't include the oral pill (which will come in the second part of the trial), but they were good enough to somewhat de-risk maintenance dosing with injectable VK2735. That's a major plus in itself and justifies the de facto 14.4% loss in earnings power per dollar (assuming unchanged earnings) for investors, both before and after the results release and the subsequent common stock offering.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.
Panmure Liberum ponechal u Landsec doporučení koupit a cílovou cenu 710 p po dohodě o koupi nákupního centra Metrocentre za 516 milionů liber v hotovosti. Transakce má být dokončena do konce října, financovaná zhruba 500milionovým navýšením kapitálu a stávajícími úvěrovými zdroji.
Panmure Liberum has maintained its 'buy' rating on Land Securities Group PLC (LSE:LAND), the property investment company, with a target price of 710p, after the company agreed to acquire the Metrocentre shopping centre in Gateshead.
Landsec has exchanged contracts to buy 100% of Metrocentre for £516 million in net cash consideration, funded through a roughly £500 million equity raise and existing debt facilities.
The equity raise will also partly fund a further £100 million acquisition of interests in Landsec's existing retail portfolio.
Metrocentre generates £41 million of in-place net rental income, implying a net initial yield of 7.9%, with Landsec expecting a low double-digit unlevered internal rate of return.
The broker said it saw around 40 basis points of near-term yield upside from efficiencies across Landsec's wider property platform.
Metrocentre ranks among the UK's ten largest shopping centres, spanning 1.86 million square feet of retail space plus a further 200,000 square feet of retail park, with 282 stores and 95% occupancy.
The centre attracts more than 16 million visitors a year and generates around £650 million in annual retail sales, with tenants including Apple, Zara, Marks & Spencer and Primark.
Completion is expected by the end of October, subject to the dissolution of a legacy Intu entity and bondholder consent, with more than 80% of bondholders already indicating support.
Panmure Liberum said the acquisition and equity raise were expected to be broadly neutral to earnings per share for the remainder of the current financial year, before becoming accretive from the 2028 financial year.
The broker said Landsec now had increased visibility on reaching EPRA earnings per share of around 62p by the 2030 financial year.
Brazilian state-run oil company Petrobras (PETR3.SA) said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier.
According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new discovery in block FZA-M-59, where it had already identified hydrocarbons in August.
The oil found in August was of good quality, the firm said
Petrobras CEO Magda Chambriard said last week that drilling of the first well in the region, also known as Foz do Amazonas, was expected to conclude in the coming days
Petrobras recenty announced it will drill three new wells in the area starting in January to determine wether commercial production in the environmentally-sensitive region is viable
Foz do Amazonas shares geological similarities with offshore Guyana, where ExxonMobil (XOM.N) is developing huge fields
Chambriard will hold a press conference later on Friday to detail the oil discovery, according to Petrobras
Applied Digital spustila dalších 75 MW AI infrastruktury v Polaris Forge 1, čímž zvýšila plně provozní kapacitu kampusu na 250 MW. Celý areál má mít po dokončení kapacitu 400 MW.
Completion of three additional 25 MW data halls brings fully operational capacity at Polaris Forge 1 to 250 MW | Source: Applied Digital Corporation
DALLAS, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers engineered to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has achieved Ready for Service for the second phase of Building 2 at its Polaris Forge 1 campus, delivering an additional 75 MW of critical IT load across three 25 MW data halls.
The milestone completes Building 2’s full 150 MW of critical IT load and brings fully operational critical IT load at Polaris Forge 1 to 250 MW. The fully leased AI Factory Campus is contracted to deliver 400 MW of critical IT load at full buildout.
“Bringing another 75 MW of AI infrastructure online at Polaris Forge 1 further demonstrates our ability to turn large-scale power into operational AI infrastructure,” said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. “Securing power is only the starting point. The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers. That is the capability we continue to scale across our platform.”
The latest delivery follows the first 100 MW building at Polaris Forge 1 and the initial 75 MW phase of Building 2. With 250 MW now operational, Polaris Forge 1 reflects Applied Digital’s repeatable approach to developing and operating large-scale infrastructure purpose-built for advanced AI and high-performance computing workloads.
Polaris Forge 1 is located in Ellendale, North Dakota, where Applied Digital has operated since 2021 and built long-standing relationships with local leaders, partners, and community stakeholders. As the campus continues to expand, the Company remains focused on responsible development, local partnership, and creating long-term value in the communities where it builds.
About Applied Digital
Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.
Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; and (v) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.
eToro Group stock price continued its strong sell-off this week, reaching its lowest level since February this year. It has slumped by 40% from its highest point this year, erasing millions of dollars in value. This sell-off may continue as the stock forms an inverted cup-and-handle pattern.
ETOR stock has been in a strong sell-off this year, a trend that continued after it released its earnings report on August 10 this year. Its results showed that its revenue growth slowed because of the crypto winter.
The revenue rose by 9% in the second quarter to $229 million, driven by its equites trading business. Equities now account for 60% of its trading volume and is followed by commodities.
The results also showed that its number of customers rose to 4.28 million, up by 18% from the same period last year. This increase led to an increase in assets under administration, which rose to $19.2 billion from $17.5 billion in Q2’25. Total trades also jumped by over 60% during the quarter.
eToro’s revenue growth is expected to remain under pressure this year because of the recent crypto weakness. Yahoo Finance data estimates that the company’s third-quarter revenue is expected to drop by 5.3% to $203.1 million.
eToro’s earnings per share are also expected to drop from 53 cents in Q3’25 to $0.4 in the last quarter. For the year, analysts expects that its annual revenue is expected to come in at $918 million, up by 5.80% YoY. This revenue growth is expected to be lower than other companies, including Robinhood Markets, which is expected to grow by 17% this year. WeBull’s revenue is also expected to grow by over 40% this year.
Analysts have mixed opinions on eToro stock. In a recent note, Cantor Fitzgerald reiterated its overweight rating, while Mizuho’s Dan Dolev maintained the outperform rating, even when lowering the target from $52 to $43. Canaccord Genuity’s Joseph Vafi also reiterated his buy rating.
One of the main reasons for this is its valuation, which shows that it has a forward price-to-earnings ratio of 10.3, much lower than the S&P 500 estimate of 19.1. Its forward PEG ratio of 0.59 is also lower than other companies.
ETOR stock chart | Source: TradingView
The daily chart shows that the ETOR stock has retreated in the past few months. A closer look shows that it formed an inverted cup-and-handle pattern, which is made up of a horizontal support and a rounded top. It formed the handle section between August 8 and September 3.
The stock has already moved below the lower side of the pattern and is now nearing the key support of $24.80, its lowest point in February. A drop below that level will point to more downside, potentially to $20.
eToro also remains below the 50-day moving average, while the Average Directional Index (ADX) has jumped to 25.56, its highest level since August 26. A rising ADX is usually a sign that the downtrend is gaining momentum.
Toshiba plánuje zdvojnásobit kapacitu výroby HDD, což poslalo akcie Seagate o 10 % níže a Western Digital o 7 % níže v předobchodní fázi. Trh se obává oslabení nabídky a poklesu cen v segmentu diskových jednotek.
A single capacity announcement from Toshiba sent two of this year's hottest storage stocks into freefall while the rest of the memory sector shrugged it off, and the reason behind that split tells you everything about where the HDD trade…
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One capacity announcement from Toshiba is splitting the storage trade in two, hitting the hard disk drive (HDD) makers heavily while the broader memory group barely moves. Seagate Technology Holdings (NASDAQ:STX | STX Price Prediction) stock is down 10% to $849.79 in morning trading, the sharpest decline among the storage names. Meanwhile, Western Digital (NASDAQ:WDC) shares are slipping 7% to $429.45 as the pure-play HDD company takes a similar hit.
The Roundhill Memory ETF (CBOE:DRAM) is up 0.82% to $62.54, even though Seagate and Western Digital sit among its holdings. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is up 1.17% to $750.73, so large-cap technology stocks are trading stronger overall. The Roundhill fund would have dropped alongside the two drive makers in a broad memory selloff, so the damage looks confined to one product line.
Demand from artificial intelligence (AI) data centers turned Seagate and Western Digital into two of the year’s standout technology stocks, and Toshiba wants a bigger share of it. Both Seagate and Western Digital beat earnings estimates in every quarter of fiscal 2026, which puts the focus of the selloff directly on future supply.
Toshiba Plans to Double Its Hard Drive Output Toshiba plans to double its HDD production capacity, with the expansion centered on its manufacturing facility in the Philippines. The Japanese company is aiming the added output at storage demand from AI data centers, the same customers that have fueled surging results at Seagate and Western Digital.
Toshiba, the smallest of the three companies that control HDD manufacturing, has set a medium-term target of 30% of the market measured by storage capacity. Reaching that goal would mean taking market share from Seagate and Western Digital in an industry where tight supply has supported rising prices.
Hard Drive Makers Slide While Memory Stocks Hold Firm What Seagate and Western Digital share, and what separates both from the rest of the storage group, is concentrated exposure to the exact product Toshiba plans to build more of. Micron Technology (NASDAQ:MU), SanDisk (NASDAQ:SNDK) and SK Hynix (NASDAQ:SKHY) benefit from the same AI infrastructure boom through memory chips and flash storage without that HDD concentration. That likely explains why the Roundhill fund is holding steady.
Both stocks’ big runs this year leave them sensitive to news suggesting the industry’s supply and demand balance could loosen. Before the drop, Seagate shares were up 210% year to date (YTD), and Western Digital stock was up 150% YTD.
Western Digital CEO Irving Tan linked pricing directly to scarcity on the company’s August 5 earnings call, stating, “In the very tight supply environment that we’re in, that provides us an opportunity for increased pricing leverage as well.” Seagate has leaned on the same discipline, with chief executive Dave Mosley asserting on the company’s April 28 call, “The total number of units is not really increasing.” Toshiba’s plan to double its output works directly against that approach.
What to Watch Next Long-term contracts give Seagate and Western Digital some protection against Toshiba’s added supply. Nearline capacity at Seagate (the high-capacity drives sold to data centers) was almost fully allocated through calendar 2027, the company stated in April. Guidance from Western Digital calls for the company’s fiscal Q1 2027 revenue to reach $4.1 billion, plus or minus $100 million.
What remains unknown is how quickly Toshiba’s new capacity reaches cloud buyers. Any slide in the Roundhill Memory ETF to match the two stocks would suggest the worry is spreading beyond HDDs.
Contact [email protected] for any questions or corrections.
SpaceX Starship dosáhl oběžné dráhy a zvyšuje tlak na Rocket Lab, jehož raketa Neutron stále čeká na první let. Firma přitom ve 2. čtvrtletí zvýšila tržby o 62 % na 234,07 milionu USD.
Starship reaching orbit scrambles the economics for every rocket startup, and Rocket Lab and Redwire are betting on opposite strategies to survive the fallout. Only one of those bets looks smart right now.
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Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) and Redwire (NYSE:RDW) posted record second quarters in August on Pentagon demand. Now SpaceX’s Starship has reached orbit, changing the competitive landscape. Rocket Lab is building a rival rocket; Redwire is buying rides from SpaceX. That split matters.
Rocket Lab Builds the Rival. Redwire Buys the Ride. Rocket Lab’s revenue rose 62% to $234.07 million, with backlog reaching $2.36 billion. Space Systems brought in $189.5 million versus $44.6 million from launch. CEO Sir Peter Beck: “The most successful space companies will be the ones that have the keys to space.”
Redwire grew faster. Revenue rose 89.6% to $117.07 million. Edge Autonomy’s Stalker and Penguin drones raised Defense Tech revenue to $61.88 million, which put it ahead of the Space division. A book-to-bill ratio of 1.42 means new orders are still coming in faster than Redwire delivers. Its venture SpaceMD also bought an entire SpaceX Starfall spacecraft for a 2028 microgravity mission. CEO Peter Cannito called it “a game changer.”
Business Driver Rocket Lab Redwire Main Growth Engine Flatellite and GEO satellites Stalker and Penguin drones SpaceX Relationship Competitor via Neutron Customer via Starfall Backlog $2.36 billion $542.1 million Starship Puts a Target on Neutron’s Price Tag Starship is a real threat to Neutron’s pricing. Launching on Falcon 9 already costs about $2,700 a kilogram. As SpaceX gets better at reuse, repairing a rocket could cost roughly 1/100th of building a new one. Rocket Lab prices Neutron at an average of $50 to 55 million per launch, and CFO Adam Spice sees “more upside to ASPs.” I doubt that holds if Starship’s launch pace keeps climbing. Beck says that “launch has never been so constrained,” but Neutron still has to fly, and he admitted that “the window for an end-of-year launch is narrowing.”
Rocket Lab is valued at 57.93 times sales, compared with Redwire’s 6.12. That gap assumes Neutron comes through. Rocket Lab shares sit at $70.46, up just 1% this year and far below their 52-week high of $151. That’s despite a rise today on a record Electron launch deal and a Citi buy rating. Redwire, at $10.58, is up 39.21% this year as drone orders keep building.
Neutron’s Stage Test Could Reset Both Stocks I’m watching Neutron’s stage testing, which Beck called the last major step before first flight. I’m also tracking Rocket Lab’s Q3 revenue guidance of $250 million to $265 million. For Redwire, keep an eye on gross margin. Management still guides to the “low to mid-20s”, even though Q2 came in at 27.8%.
Why I Lean Toward Redwire While Starship Scales Redwire fits this moment better. Cheaper launch helps a company buying rides, and its drones sell into NATO demand independent of rocket costs. A quarterly loss of $40.97 million warrants caution.
Rocket Lab is the stronger business with $2.13 billion in cash and an Iridium deal closing in mid-2027. If Neutron flies successfully, I would rethink quickly. Until then, its valuation leaves little room for a Starship price war.
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Coca-Cola vyplatila čtvrtletní dividendu 0,53 USD na akcii a pokračuje tak už 63. rokem růstu dividendy v řadě. Firma zároveň zvýšila výhled volného cash flow na zhruba 12,4 miliardy USD.
Coca-Cola just cut another quarterly check to shareholders, but the real story is what the payout reveals about the company's financial strength, its ongoing IRS battle, and whether 64 consecutive years of dividend raises are in jeopardy.
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Coca-Cola (NYSE:KO | KO Price Prediction) shareholders received $0.53 per share on October 1, 2026. The board declared the dividend on July 15, 2026, and the ex-dividend date was September 15, 2026. Shares held before that date earned the dividend. Buyers from that date forward must wait for the next quarter.
The payout for this quarter is the same as the prior quarter’s. The annual raise came earlier in the year, so this check adds one more quarter to one of the longest dividend records on the market.
Dividend Scorecard: Payment, Pace, and Price Metric Figure Quarterly dividend paid October 1, 2026 $0.53 Same-quarter payment a year earlier (October 1, 2025) $0.51 Trailing 12-month dividends per share $2.10 Annualized forward dividend rate $2.12 Share price (close, October 1, 2026) $86.10 Trailing dividend yield 2.5% The forward rate of $2.12 runs ahead of the trailing total of $2.10, because the higher quarterly rate has not yet been in place for a full four quarters.
The yield is moderate. The stock has gained 24.6% year to date and 30.3% over the past year, and that rally has pulled the yield lower even as the payout grew. Shares trade at about 26 times trailing earnings and 25 times forward earnings. They trade between a 52-week low of $65.84 and a high of $92.49.
Safety Check: Earnings and Cash Flow Cover the Payout Coverage matters more than yield here, and the coverage numbers hold up. Trailing diluted EPS is $3.33, well above the $2.10 in dividends paid per share over the same stretch. In the quarter ended June 30, 2026, Coca-Cola earned $4.43 billion in net income and paid $2.28 billion in common dividends.
Furthermore, operating cash flow reached $5.52 billion in the second quarter against capital spending of $418 million. Management reported first-half free cash flow of “approximately $6.9 billion,” up from the prior year. Full-year free cash flow guidance is about $12.4 billion, raised from $12.2 billion. For scale, the company paid $8.78 billion in dividends during all of 2025.
There is a caveat. Reported operating cash flow for 2025 was $7.41 billion, below the dividend outlay. The shortfall came from a one-time item: the Fairlife contingent consideration payment made in the first quarter of 2025, which drove operating cash flow in that quarter to negative $5.20 billion. Cash generation in the four quarters since then points to a business that funds its dividend from ongoing operations.
Balance Sheet Leaves Room to Spare As of June 30, 2026, Coca-Cola held $12.91 billion in cash and equivalents against $43.54 billion in total debt. Shareholder equity rose to $36.15 billion at the end of 2025 from $32.17 billion in the prior year. Management put the leverage figure in context during the July earnings call:
Our balance sheet remains strong with our net debt leverage of 1.4 times EBITDA, which is below our target range of 2 to 2.5 times. Given the momentum of our business and the strength of our balance sheet, we have increased flexibility and optionality to continue to both reinvest in our business and return capital to share owners.
63 Straight Years of Raises Behind This Payment Coca-Cola had raised its dividend for 63 consecutive years through 2025. The move from $0.51 to $0.53 per quarter shows the 2026 increase went through on schedule. That record puts Coca-Cola well past the 50-year mark that defines a Dividend King.
Total cash paid to shareholders has risen steadily, from $7.25 billion in 2021 to $7.62 billion in 2022, $7.95 billion in 2023, $8.36 billion in 2024, and $8.78 billion in 2025. Over the same period, the share count edged down from 4.34 billion to 4.31 billion, so each remaining share captures a slightly larger portion of the payout.
Operating Momentum Supports the Next Raise The dividend is backed by a growing business. Second-quarter EPS of $0.97 beat the $0.9323 consensus estimate. Revenue of $13.38 billion rose 6.7% year over year. Operating margin expanded to 34.9% from 34.1%, and global unit case volume grew 5%, with Coca-Cola Zero Sugar up 16%.
The company raised its 2026 outlook and now expects comparable EPS growth of “9 to 10% versus $3 in 2025,” along with organic revenue growth of “approximately 5%.” Chief Executive Henrique Braun said, “I’m confident we are well positioned to deliver on our raised 2026 guidance.” Some institutional investors see value at current levels. A Fidelity fund manager recently told Barron’s that Coca-Cola shares look like bargains.
What Income Holders Should Track Next IRS tax dispute: Coca-Cola presented oral arguments before the 11th Circuit Court of Appeals in June, and management said, “the timing of a decision from the appellate court is unknown at this stage.” A win would give the company access to funds already deposited with the IRS. A loss is laid out in its financial statements. Third-quarter earnings report: Management expects concentrate shipments to lag unit case volume by a point in the third quarter, which could make reported growth look softer than underlying demand. Free cash flow delivery: Hitting the $12.4 billion target would leave dividend coverage comfortable going into the next annual increase decision. Consumer pressure: Management noted that lower-income consumers remain under pressure in North America and globally, a factor that bears on volume. Income investors can take comfort knowing that earnings cover the dividend with room to spare, 2026 free cash flow is on track to exceed the full annual payout, leverage remains below management’s own target, and more than six decades of continuous increases stand behind each quarterly check. Also, the yield is moderate after a strong run in the stock.
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Alphabet masivně investuje do AI infrastruktury, ale volný peněžní tok byl ve 2. čtvrtletí -5,86 mld. USD a firma pozastavila zpětné odkupy akcií. Analytici přesto vidí 26% růstový potenciál.
Alphabet is pouring hundreds of billions into AI infrastructure while free cash flow turns negative and buybacks disappear, yet analysts still see 26% upside from here. Whether that bet pays off by 2030 depends on a few pivotal questions the…
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Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) trades at $338.24. In a base-case projection, a $10,000 position today grows to about $35,778 by 2030. Google’s launch of Gemini 4 Argon, its most advanced AI model, has put the company’s AI execution back at the center of the debate.
Alphabet runs Search, YouTube, Android, Google Cloud and Waymo. Second-quarter revenue reached $119.80B, up 24.2% YoY, and Cloud revenue rose 82%. Even so, the stock trades below its 52-week high of $408.1. Investors are still working through 2026 capex guidance of $175B to $185B.
Cloud Hypergrowth at a Big Tech Discount The bulls point to a trailing P/E of 17 and a PEG ratio of 1.255 for a company growing this fast. Google Cloud has a backlog of $460B+, and nearly 90% of Fortune 100 companies now use Gemini Enterprise. Search, the core business, still grew 17%.
Alphabet also has other ways to win. Waymo is delivering 500,000+ fully autonomous rides per week, and the company has beaten EPS estimates for 11 consecutive quarters. On CNBC, Dan Nathan called it “the most diversified way to play AI going forward.”
A Capex Surge That Is Burning Through Cash Bears argue the AI buildout is hurting shareholder returns. Second-quarter free cash flow was -$5.86B, and the company suspended its buyback. Long-term debt rose from $46.5B to $98.2B.
Reported earnings also look stronger than the underlying business. Second-quarter net income of $112.11B included a $99.03B gain on equity securities. Consensus FY2027 EPS of $14.9221 sits below the FY2026 estimate of $20.6248, which explains why the forward P/E is 23. Generative AI could also cut into Search monetization, and European regulators remain active.
Waiting for Free Cash Flow to Recover Capex remains the central issue. Revenue growth and operating margin of 34% remain strong, but spending on this scale has not yet shown it can earn a matching return. A stronger investment case depends on free cash flow turning positive and Cloud margins holding up as depreciation increases. Over the next two to four quarters, keep an eye on whether the buyback resumes and whether AI Overviews help or hurt Search ad pricing.
Alphabet Is Beating the S&P 500 Over the Past Year Alphabet trades at $338.24. The consensus target is $429.36, suggesting 26.9% upside. Analyst targets are one input among many and can miss badly. Of 61 analysts:
Strong Buy: 13 Buy: 43 Hold: 5 Sell: 0 Over the past year, the stock rose 38.47%, compared with 14.3% for the S&P 500. Year to date, Alphabet trails the index, up 8.27% versus 12.04%.
Why $10,000 Could Top $35,000 by 2030 At $338.24, most covering analysts rate Alphabet a Buy or Strong Buy.
The base-case model puts the stock at $1,210.14 by late 2030, which would turn $10,000 into roughly $35,778. An upside scenario of $1,224.46 works out to about $36,201. The bear case of $632.66 still gets to about $18,704. These are model scenarios that carry significant uncertainty.
Cloud is the main way there. If the backlog turns to revenue and capex peaks in 2026, free cash flow should recover by 2027 and the buyback could return. Waymo and Gemini subscriptions would add to that (the power, cooling, and networking suppliers behind that same AI expansion are the subject of a free report we put together here).
The argument falls apart if Search revenue growth falls into single digits or if negative free cash flow continues past 2027. With an earnings yield of 6.66% and a large cash-generating core business, the company has a buffer through the spending cycle.
Alphabet is investing heavily in AI infrastructure, and the stock trades at a forward P/E of 23.
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Amazon i Alphabet ve 2. čtvrtletí vykázaly zisky 53,4 miliardy dolarů a 99 miliard dolarů z Anthropic, ale Amazon má přímější vazbu přes smluvní poptávku po čipech Trainium. Anthropic míří k IPO na konec roku 2026.
Amazon and Alphabet both booked staggering Anthropic gains last quarter, yet the two hyperscalers are playing completely different games with the AI company heading toward a public listing.
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In their second-quarter reports, Amazon (NASDAQ:AMZN | AMZN Price Prediction) and Alphabet (NASDAQ:GOOGL) both booked huge Anthropic gains. Amazon recorded a $53.4 billion non-operating gain, mostly from Anthropic. Alphabet logged $99 billion in unrealized equity gains. Anthropic targets a late-2026 window for its IPO. A listing would benefit each company in different ways.
Trainium Drives AWS While Gemini Drives Google Cloud AWS revenue reached $42.2 billion, up 36.7%, its fastest growth in 18 quarters. CEO Andy Jassy called Anthropic and OpenAI “the two leading AI labs in the world” and said both have made multi-year, multi-gigawatt commitments to Trainium. Project Rainier runs on more than 500,000 Trainium2 chips for training Claude. The commitment ties Anthropic closely to AWS infrastructure.
Google Cloud grew 82% to $24.77 billion. Anthropic runs workloads on Google TPUs, yet Sundar Pichai promoted Gemini, mentioning that nearly 90% of the Fortune 100 use Gemini Enterprise. Google launched Gemini 4 Argon, a model competing directly with Claude.
Anthropic Lens Amazon Alphabet Q2 Equity Gain $53.4B, mostly Anthropic $99.03B, includes Anthropic Compute Tie Trainium, up to 5 GW committed TPU workloads Claude Relationship Hosts Claude Opus 5 on Bedrock Gemini competes head-on Amazon Is Anthropic’s Partner. Alphabet Also Competes With It. Amazon’s chip business has passed a $25 billion run rate and is growing at triple-digit rates. Anthropic is a major proof point for Trainium. Jassy noted there is “a real chance” Amazon will sell Trainium chips outside AWS, and a successful Anthropic IPO would strengthen that sales pitch.
Alphabet’s balance sheet faces pressure. It raised $49.6 billion in equity and suspended buybacks. Long-term debt rose from $46.5 billion to $98.2 billion. A public Anthropic stake would give Alphabet an asset it could eventually sell.
Anthropic’s Public Valuation Could Move Both Earnings Reports A public price will set a new value for both stakes. Watch whether Anthropic shifts more compute toward TPUs as it grows, and monitor cash burn. Amazon’s trailing free cash flow was -$7.6 billion, and Alphabet’s quarterly figure was -$5.86 billion. IPO gains are paper gains. Data centers are paid for in cash, and the power, cooling, and networking suppliers behind that expansion are a trade of their own (we covered seven of them in a free AI infrastructure report).
Amazon Holds the Deeper Anthropic Link Investors Can’t Ignore Amazon benefits twice: through the equity mark and through years of contracted Trainium demand. Jassy said the “lion’s share of capacity in 27” is already reserved, with Anthropic accounting for a large part. Alphabet has the bigger paper gain and stronger stock performance, up 38.47% over the past year versus Amazon’s 12.51%. That makes Alphabet the broader AI story and Amazon the company with more direct Anthropic exposure.
Contact [email protected] for any questions or corrections.
Fifty-two analysts cover Microsoft and not one recommends selling, yet the stock has gone nowhere for a year while Azure just crossed a historic revenue threshold. Something in that gap between Wall Street conviction and share price stagnation does not…
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The 24/7 Wall St. price target for Microsoft (NASDAQ:MSFT | MSFT Price Prediction) is $627.63 over the next 12 months. The target stands 22.37% above the current price of $512.90. Our model rates the stock a buy with high confidence.
Metric Value Current Price $512.90 Price Target from 24/7 Wall St. $627.63 Upside/Downside 22.37% Recommendation BUY Confidence Level 90% Wall Street agrees. Microsoft has 14 Strong Buy, 38 Buy and 3 Hold ratings, with zero Sells. The consensus target is $578.42, implying about 12.8% upside. Our target stands above the Street because consensus is underpricing how quickly Azure capacity will convert to revenue.
Azure Tops $100 Billion While Shares Tread Water The stock is up 2.56% over the past week and 6.83% year to date, but about flat for the full year at -0.06%. The 52-week range runs from $348.54 to $549.20.
The business grew much faster than the stock. Microsoft reported fiscal Q4 2026 results on July 29. Revenue came in at $90.01 billion, up 17.75%, beating the $87.63 billion estimate. EPS of $4.74 beat the $4.24 estimate. Azure grew 43% and passed $100 billion in annual revenue. Commercial backlog rose 84% to $678 billion.
Why Bulls See $727 Within Reach In our bull case, the stock hits $727.41. Supply is the main driver. Management guided to Azure growth of about 45% in constant currency for fiscal Q1 2027. CFO Amy Hood said “demand continues to exceed available supply.” Each new gigawatt of capacity sells almost as soon as it comes online.
AI products are making real money. Microsoft 365 Copilot has passed 30 million paid seats, with net additions more than doubling from the prior quarter. GitHub Copilot revenue grew over 60% quarter over quarter.
Capex and Free Cash Flow Are the Pressure Points Our bear case comes to at $533.45. Q4 capital spending rose 109.63% to $35.80 billion, and free cash flow fell 23.19%. Management expects fiscal 2027 capex of about $175 billion. More Personal Computing, which includes Windows and Xbox, contracted 4%. Excluding OpenAI, backlog grew a more modest 25%.
Operating cash flow rose 30% to $55.44 billion, and Microsoft expects free cash flow to stay positive. Hood said spending is flexible: “If the demand environment changes, you just slow down what is, in fact, the largest component.”
Microsoft Pairs Growth With Positive Free Cash Flow, Unlike Amazon and Alphabet Amazon (NASDAQ:AMZN) runs AWS, Azure’s closest rival. AWS grew 37%, slower than Azure, yet Amazon trades at 35x trailing earnings versus Microsoft’s 28x. Amazon’s trailing free cash flow was negative $7.6 billion.
Alphabet (NASDAQ:GOOGL) trades at 15x earnings, and Google Cloud grew 82%. A $99.03 billion gain on equity securities inflated those earnings. Alphabet had negative Q2 free cash flow of $5.855 billion and suspended its buyback.
Company Trailing P/E Cloud Growth Microsoft 28 43% (Azure) Amazon 35 37% (AWS) Alphabet 15 82% (Google Cloud) Against these peers, our target looks reasonable. Microsoft has premium-quality cash flow at a valuation between the two.
Microsoft Price Prediction 2026-2030 I stand by our 24/7 Wall St. price target of $627.63, a buy rating and 90% confidence. Capacity selling as soon as it arrives tips the scale. My confidence would rise if Azure delivers the guided acceleration and Copilot seat additions keep compounding.
I would get more conservative if capex keeps growing while free cash flow contracted for several more quarters. For now, the evidence supports the bull side.
Our model projects where Microsoft could trade if current growth and market conditions hold.
Year Price Target from 24/7 Wall St. 2026 $542.26 2027 $629.19 2028 $727.64 2029 $820.67 2030 $895.81 Contact [email protected] for any questions or corrections.
Akcie Nike klesly pod své 52týdenní minimum, když letos odepsaly 51,13 %. Management zároveň čeká ve fiskálním roce 2027 pokles tržeb o vysoké jednociferné procento.
Nike just slipped below its 52-week low while the broader market climbs, but one analyst sees a path to gains that would leave the rest of Wall Street stunned. The question is whether the turnaround math actually works.
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Nike (NYSE:NKE | NKE Price Prediction) currently trades at $35.10. The average analyst price target stands at $45.63, which implies 30% upside.
Nike is the world’s largest athletic footwear and apparel supplier, now going through a turnaround under CEO Elliott Hill. Piper Sandler analyst Abbie Zvejnieks rates the stock Overweight. Her $75.00 target implies more than 113% upside, far above Wall Street’s consensus.
The gap between consensus and Piper’s target reflects the core debate: one side views a fallen blue chip near its bottom; the other sees a restructuring requiring more time and cost than bulls expect.
A Shrinking Sales Outlook and a China Reset Sent Nike to a 52-Week Low Nike’s guidance did the most damage. Management expects fiscal 2027 revenue to fall by a high-single-digit percentage, with adjusted EPS of $1.15 to $1.35 versus fiscal 2026 EPS of $2.10. Shares are down 43.44% year to date.
First-quarter revenue fell 4.3% to $11.21 billion, missing the $11.32 billion consensus, though EPS of $0.48 beat the $0.44 estimate. Greater China revenue dropped 22%, Converse fell 28%, and Jordan Brand declined by a mid-teens percentage. Sportswear revenue fell by a low-double-digit percentage after Nike cut Dunk revenue by nearly 50%. Management warned that China “actually gets worse from a revenue perspective for the balance of this year.”
While the sector is weak, Nike is pulling back supply and clearing inventory, making much of this decline company-specific.
Piper Sandler’s $75 Case Rests on Cost Cuts and a Performance Comeback Piper’s bull case rests on three points:
Cost cuts that free up $600 million to $1 billion in yearly savings, adding 130 to 200 basis points to operating margin. A wholesale restructuring that wins back shelf space at retailers. New running and performance shoes that take back share from challenger brands. Jefferies has also stayed bullish, with a target around the $75 level.
Nike’s Pace restructuring targets about $2.5 billion in total savings through fiscal 2031, with most coming in fiscal 2029 and 2030. Performance business grew by a high-single-digit percentage and running by double digits. Hill called that “a proof point” for the strategy. Nike plans to share a long-term financial framework at its November investor day.
The Street remains largely conservative. Of 39 analysts, one rates Nike a Strong Buy, 10 a Buy, 25 a Hold, one a Sell, and two a Strong Sell. Management also said pain will “bleed in a little bit into fiscal 28,” so recovery will take time.
Deckers Outdoor (NYSE:DECK) has the largest consensus upside in the group, which also includes Lululemon Athletica (NASDAQ:LULU).
Nike Slips Below Its 52-Week Low as the S&P 500 Climbs At $35.10, Nike stands just under its $35.16 52-week low and far below its $72.39 high. The $45.63 consensus target from 39 analysts implies 30% upside.
Shares fell 7.92% over the past month and 51.13% over the past year, while the S&P 500 gained 12.04% year to date and 14.3% over the past year. Nike trades at about 21 times forward earnings and pays a $0.410 quarterly dividend that management says it can support “under all scenarios.”
Nike’s Recovery Case Is Credible, but $75 Is Years Away Upside would build if the November investor day lays out a credible path to higher margins, if Pace savings arrive on schedule, and if performance growth offsets cuts in Sportswear and Jordan. The road to $75 runs through wider margins on steady sales.
Risks would mount if China drops beyond fiscal 2027, if Converse keeps shrinking, or if Dunk and Jordan cutbacks leave a gap that performance products can’t fill. Adjusted EPS is guided to $1.15 to $1.35, leaving little room for a guidance cut.
I lean cautiously bullish. The 30% consensus upside looks reachable if Pace delivers. The dividend is backed by $8.4 billion in cash and short-term investments. Piper’s $75 target is the best case, requiring nearly everything to go right.
Contact [email protected] for any questions or corrections.
Nvidia v premarketu vzrostla v pátek o 1,64 % poté, co ji Morgan Stanley znovu označila za svou nejlepší volbu mezi polovodiči. Banka vidí další růst díky expanzi AI infrastruktury.
Nvidia shares rose in premarket trading on Friday after Morgan Stanley reinstated the chipmaker as its top semiconductor pick.
The analysts said the company remains well positioned to benefit from the continued expansion of artificial intelligence infrastructure.
The NVDA stock was up 1.64% in premarket trading after Morgan Stanley analyst Joseph Moore said Nvidia was trading at a valuation that left room for further upside as earnings estimates continue to rise.
"We certainly see NVIDIA as well positioned, with a very undemanding valuation," Moore wrote following investor meetings with Nvidia CEO Jensen Huang, CFO Colette Kress and investor relations head Toshiya Hari in New York and Boston.
Nvidia currently trades at about 15 times Morgan Stanley’s fiscal 2028 earnings estimate, according to Moore.
He said the valuation multiple could expand if investor enthusiasm for artificial intelligence returns, although such an expansion is not necessary for the stock to perform well as earnings expectations increase.
The bank also sees a shift in the main constraint facing the AI industry.
Rather than chip production, the bottleneck is increasingly becoming the pace at which new data center capacity can be constructed and financed.
That shift could benefit Nvidia, given the breadth of its cloud customer base and its ability to supply customers in markets where power availability is less constrained.
Nvidia lists 80 cloud partners globally, with 55 located outside the US, giving the company flexibility as AI infrastructure investment spreads across regions.
Moore also highlighted the diversity of Nvidia’s customer base beyond the largest technology companies.
“While 90% of investor conversations are around the biggest hyperscalers and frontier model companies, half of the business - probably the faster growing half - is a broader range of AI model companies, Neoclouds, sovereign entities, ODMs and OEMs, and enterprise customers,” Moore wrote.
Morgan Stanley also pointed to Nvidia’s strategy of increasing the amount of revenue generated from each unit of power used by AI infrastructure.
Morgan Stanley estimates Nvidia's 2028 Feynman architecture could lift revenue per gigawatt from roughly $40 billion to well above $50 billion.
That could become increasingly important as data center operators face constraints around electricity generation, grid connections and available power.
Moore also expects the development of AI agents to increase demand for CPUs, but said the impact on GPU spending should be significantly larger.
Nvidia’s cash generation has provided another source of support for the shares in recent days.
The company recently authorized an additional record $150 billion for share repurchases, taking its remaining buyback authorization to $235 billion.
Nvidia expects to deploy that authorization through fiscal 2028.
Nvidia received another boost on Thursday after Barclays analyst Tom O’Malley raised the potential for the chipmaker’s hyperscaler revenue.
Using what he described as “napkin math” based on Nvidia’s latest disclosures on information technology spending by major cloud providers, O’Malley estimated that Nvidia could generate $237 billion in hyperscaler revenue in 2026 and $401 billion in 2027.
Those figures compare with Barclays’ existing estimates of $206 billion and $370 billion, respectively.
In an upside scenario, Barclays sees hyperscaler revenue reaching $246 billion in 2026 and $417 billion in 2027.
O’Malley estimates Nvidia’s share of IT capital spending among the five largest cloud providers could reach 44% in 2027.
Barclays maintains an ‘Overweight’ rating on Nvidia with a $275 price target, while Cantor Fitzgerald analyst C J Muse has a Buy rating and a $350 price target.
Meanwhile, Nvidia’s biggest customers are also looking at ways to manage the enormous capital requirements associated with AI infrastructure.
Amazon is seeking to transfer about $8 billion of Nvidia Grace Blackwell chips to outside investors through a new financing vehicle, according to the Financial Times report.
Amazon has reportedly held talks with investors about moving thousands of Grace Blackwell chips being installed in US data centers into a special-purpose vehicle.
The company would then lease the chips back from the vehicle, which would raise debt from outside investors.
The structure could allow Amazon to adopt a more asset-light approach by shifting ownership of the expensive semiconductors to investors while retaining access to the computing capacity.
Amazon plans to offer investors an equity stake of up to 10% in the vehicle, according to the report.
The proposed transaction highlights the scale of capital being committed to Nvidia’s AI infrastructure ecosystem, while also showing how cloud companies are exploring alternative financing structures as spending on advanced computing accelerates.
Altria má sice dividendový výnos 6,6 %, ale její hlavní byznys klesá a vlastní kapitál je záporný ve výši 3,2 miliardy USD. Dividenda už spolyká asi 78 % až 79 % upraveného EPS pro rok 2026.
Altria's 6.6% yield and 60 consecutive raises look bulletproof until you dig into what sits beneath them: a shrinking core business, a failed smoke-free pivot, and a balance sheet with liabilities that dwarf its assets.
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Altria (NYSE:MO | MO Price Prediction) has more risk than its yield suggests. The yield is easy to like. A forward dividend of $4.44 a share against a $66.94 stock price works out to about 6.6%, and the board just raised the quarterly payout to $1.11. To a retiree, that looks like a reliable paycheck. Behind it sit a shrinking core business, a smoke-free strategy that keeps losing ground, and a balance sheet with no buffer.
Cigarette Volumes Keep Falling, and Price Hikes Are Covering the Gap Domestic cigarette shipment volume fell 10.0% in 2025. Marlboro’s retail share dropped 1.4 points to 39.7% in Q1 2026, then lost another 1.5 share points year over year in Q2 as discount share grew 2.6 share points. Altria fills the hole with price. Marlboro’s retail price rose about 7% in Q2. That strategy depends on smokers who, by management’s own account, are stretched. Altria’s chief executive told analysts in July, “The consumer remains under pressure.”
Altria Is Losing the One Category That Is Growing Altria took $2.2 billion in NJOY e-vapor impairment charges in 2025, and NJOY ACE has no announced return date. In nicotine pouches, which reached 58.1% of U.S. oral tobacco, on! saw its category share fall 4.2 points to 13.4% in Q1 2026, down from 16.7% in Q2 2025. on! shipments then dropped 4.2% in Q2. Rivals are getting the growth Altria needs.
Dividend Coverage Has Thinned and the Balance Sheet Offers No Buffer Altria paid $7.0 billion in dividends in 2025 against net income of $6.95 billion. Stockholders’ equity stood at negative $3.2 billion in Q1 2026, with total liabilities of $37.7 billion above total assets of $34.6 billion. The forward dividend uses up about 78% to 79% of 2026 adjusted EPS guidance of $5.61 to $5.72, which implies just 3.5% to 5.5% growth, partly helped by buybacks. Even the Q1 revenue jump of 20.1% leaned on 610 million contract-manufactured export sticks.
Bulls point to the record. The 2025 raise was Altria’s 60th increase in 56 years, and debt-to-EBITDA stands at a manageable 1.9 times. That run was built on pricing power over a shrinking unit base, and that power weakens as smokers trade down. A yield this high usually means the market suspects something, and we broke down the seven warning signs that a payout is about to be cut in a free dividend trap guide. Shares are also up 21.73% year to date, so buyers today pay more for the same declining business.
Philip Morris Offers a Better-Built Route to Tobacco Income Among tobacco peers, Philip Morris International (NYSE:PM) has the growth engine Altria lacks. Smoke-free products made up about 42% of its Q2 2026 net revenue, revenue grew 10.37%, and 2026 adjusted EPS guidance calls for 9.5% to 11.5% growth. It also has negative equity of $6.66 billion, so its edge rests entirely on growth. Still, its dividend is backed by an expanding business.
Watch on! pouch share and Marlboro retail share in the next report, because a stop in both declines for several straight quarters would signal the core business is stabilizing.
Contact [email protected] for any questions or corrections.
Teva oznámila, že ecopipam u 69,8 % pacientů s Touretteovým syndromem vedl během 8 týdnů ke klinicky významnému snížení tiků. V průběžném 18měsíčním hodnocení si lék udržel účinek bez nových bezpečnostních signálů.
Based on a post hoc analysis, a majority of participants (~70%) experienced clinically meaningful tic reduction within 8 weeks of starting ecopipamAn interim 18-month analysis of an ongoing open-label extension study demonstrated a mean reduction in tic severity scores (45.6%) with no new safety signals observedAdditional analyses found that common concurrent psychiatric conditions did not negatively impact ecopipam’s efficacy or safety, adding to the growing body of evidence supporting ecopipam’s application currently under FDA Priority Review PARSIPPANY, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced new data for ecopipam, a first-in-class investigational selective D1 (dopamine) receptor antagonist for the treatment of pediatric patients with Tourette syndrome. Presented at the International Congress of Parkinson’s Disease and Movement Disorders (MDS) in Seoul, South Korea (October 4–8, 2026), the data include a post hoc analysis of safety and efficacy during the initial 8 weeks of treatment with ecopipam, long-term efficacy and safety from an interim analysis of an ongoing open-label extension (OLE) study, post hoc subgroup analyses and preclinical receptor selectivity findings.
“Tourette syndrome is a complex neurodevelopmental disorder that presents significant daily challenges for children and their families,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer of Teva. “These promising new data for ecopipam reinforce our confidence in its potential in pediatric Tourette syndrome care. If approved, ecopipam would be the first new therapy for Tourette syndrome in more than 10 years and the first with a novel mechanism of action in more than 50 years.”
Key Findings from Studies Include:
Tic Severity Reduction Observed Within Two Months of Treatment: In a pooled post hoc analysis of 292 patients across Phase 2b and Phase 3 trials, a clinically meaningful improvement in the Yale Global Tic Severity Scale Total Tic Score (YGTSS-TTS) (score ≥25%) was observed in 69.8% of participants within the first eight weeks of treatment with ecopipam. The most commonly reported adverse events (AEs) were somnolence and headache, and the most commonly reported cross-trial AEs were most often observed within the first eight weeks of ecopipam exposure.Clinically Meaningful Reduction in Tic Severity Sustained >1 year: An interim analysis of an ongoing 36-month OLE study included patients who completed the phase 3 study and the phase 2b OLE study receiving ecopipam titrated over 3-4 weeks then maintained at a target dose for up to 36 months. The study evaluated 118 children, adolescents and adults with Tourette syndrome who received at least one dose of ecopipam (median treatment exposure of 14.9 months). Ecopipam maintained clinically meaningful tic suppression through 18 months according to the YGTSS-TTS. The most commonly reported AEs were nasopharyngitis, upper respiratory tract infection, anxiety, diarrhea, influenza, pyrexia and insomnia. Co-Occurring Psychiatric Conditions Did Not Impact Efficacy or Safety of Ecopipam: A post hoc analysis evaluated 216 participants (aged ≥6 years) from the Phase 3 trial, comparing outcomes between those with (n=129) and without (n=87) common co-occurring psychiatric conditions, including ADHD, OCD, anxiety and depression. During the 12-week open-label period, the presence of co-occurring conditions did not negatively impact reductions in tic severity, with mean YGTSS-TTS score reductions consistent across participants with ≥1 co-occurring conditions and those without. Overall safety and tolerability profiles were similarly consistent between both groups. “Many children with Tourette syndrome do not receive treatment, and among those who do, treatment is often discontinued within a year because symptoms remain inadequately controlled or side effects become difficult to tolerate,” said Donald L. Gilbert, M.D., M.S., Pediatric Movement Disorders and Tourette Syndrome Specialist, Division of Neurology, Cincinnati Children’s Hospital Medical Center. “Children living with Tourette syndrome urgently need treatment options that work rapidly, remain effective over time and have a demonstrated tolerability profile. These findings are encouraging because they suggest that, if approved, ecopipam may offer patients and families a meaningful new option.”
About Tourette Syndrome
Tourette syndrome is a chronic neuro-developmental disorder characterized by involuntary motor and vocal tics beginning in childhood, often between 5 and 10 years of age.2 For people living with Tourette syndrome, symptoms can be frequent, visible and disruptive, affecting everyday life.2
About Ecopipam and Its Clinical Program
Ecopipam is a first-in-class investigational therapy designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.
Ecopipam was granted Priority Review by the FDA with Orphan Drug designation for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.
The D1AMOND Phase 2b Trial was a 12-week randomized, double-blind, placebo-controlled trial that studied 153 pediatric participants across 68 sites in North America and Europe. The primary efficacy endpoint was the change in the YGTSS-TTS, i.e., sum of the motor and vocal tic scores, from baseline to end of therapy.3 The associated Phase 2b open-label extension enrolled 121 pediatric subjects from the Phase 2b trial and followed them for up to 12 months’ duration to evaluate the long-term safety and tolerability of ecopipam.4 The subsequent D1AMOND Phase 3 Trial was a double-blind, placebo-controlled, randomized withdrawal trial enrolling a total of 216 pediatric and adult participants into an open-label stabilization period and randomizing 104 participants (90 pediatric, 14 adult) across 77 sites in North America and Europe. The objective of this study was to evaluate the maintenance of efficacy of ecopipam in pediatric and adult responders utilizing the YGTSS-TTS change from randomization or increased Tourette-specific care to determine relapse.5 While this Phase 3 trial included adult participants, the accepted NDA and resulting indication sought by Teva are exclusively for pediatric patients.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause Teva’s future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “developing,” “target,” “may,” “expand,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future performance. Important factors that could cause or contribute to such differences include risks and uncertainties relating to: our ability to successfully develop, obtain regulatory approval for and commercialize ecopipam; our ability to successfully compete in the marketplace including our ability to develop and commercialize ecopipam for the treatment of pediatric patients with Tourette syndrome; our ability to successfully execute on our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and to profitably commercialize our innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the second quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
References:
U.S. Food and Drug Administration (FDA) Approval Records: Haloperidol (1969), Pimozide (1984), Aripiprazole (2014); Pringsheim, T., et al. (2019). The pharmacological management of tic disorders: an updated practice guideline. Neurology.CDC | Tourette Syndrome | Data and Statistics on Tourette Syndrome, 2024; Mayo Clinic | Tourette Syndrome – Diagnosis and treatment, 2025.Gilbert DL, Dubow JS, Cunniff TM, et al. Ecopipam for Tourette Syndrome: A Randomized Trial. Pediatrics. 2023;151(2):e2022059574. doi:10.1542/peds.2022-059574Gilbert DL, Kim DJB, Miller MM, et al. Safety and Effect of 12-Month Ecopipam Treatment in Pediatric Patients with Tourette Syndrome. Mov Disord Clin Pract. 2025;12(8):1157-1166. doi:10.1002/mdc3.70091.Gilbert DL, Atkinson SD, Kim DJB, et al. Efficacy and Safety of Ecopipam for Tourette Syndrome: A Phase 3 Randomized Clinical Trial. JAMA Neurol. 2026;83(7):645–653. doi:10.1001/jamaneurol.2026.1431 Teva Media Inquiries: [email protected]
Journal of Child Neurology zveřejnil přehled, který podporuje selektivní mechanismus receptoru D1 u ecopipamu u Tourettova syndromu u dětí. Ve fázi 3 snížil u pediatrických pacientů riziko relapsu tiků o 50 % ve srovnání s placebem.
The published review examines dopamine’s role in tic generation and how approved and investigational drugs may affect dopamine to reduce tics as well as synthesizes clinical trial evidence that ecopipam reduces tic severity, provides sustained benefit over time and helps prevent relapse without some of the complications associated with antipsychotic agents.¹Ecopipam is an investigational, selective D1 (dopamine) receptor antagonist targeting dopaminergic signaling in the brain’s direct motor pathway implicated in Tourette syndrome.Unlike D2 antipsychotics that target D2 receptors in the indirect pathway, ecopipam selectively targets D1 receptors in the direct motor pathway, offering a differentiated approach that may reduce tic severity while potentially avoiding common adverse events associated with D2-targeting therapies.1 PARSIPPANY, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced that the Journal of Child Neurology published a comprehensive review examining dopamine pathways in Tourette syndrome and the therapeutic potential of ecopipam, a first-in-class investigational selective D1 (dopamine) receptor antagonist for the treatment of pediatric patients with Tourette syndrome.1,2 The review evaluates current treatment limitations and details how selectively targeting D1 receptors in the brain’s direct motor pathway may offer a differentiated, non-antipsychotic approach for managing tics in pediatric patients.1
“Tourette syndrome affects up to 1 in 130 children globally and can have a profound impact on a child's daily life, education and social development,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer at Teva. “The review published in the Journal of Child Neurology reinforces the potential of ecopipam’s selective dopamine D1 receptor approach. This is the kind of innovative programs we are pursuing at Teva—advancing differentiated science to address meaningful unmet needs.”
The comprehensive review details the neurobiological rationale for D1 receptor antagonism compared with existing therapies. In Tourette syndrome, elevated dopaminergic activity in the basal ganglia is proposed to contribute to the expression of involuntary tics. Because D1 receptors are primarily expressed by neurons in the direct motor pathway, ecopipam is hypothesized to block excess dopaminergic activity in this pathway, thereby normalizing downstream basal ganglia signaling and movement patterns. In contrast, traditional antipsychotics target D2 receptors, which are primarily associated with the indirect pathway.
This mechanistic distinction is supported by clinical data synthesized across the ecopipam development program. In a Phase 3 trial (n=216, including 167 pediatric), continued ecopipam treatment cut the risk of tic relapse by 50% versus placebo in pediatric participants (HR: 0.5; P=0.008), building on Phase 2b and 12-month open-label data showing sustained reductions in tic severity. Across clinical trials, the most common adverse events included somnolence, headache, insomnia, fatigue and anxiety while ecopipam was not associated with clinically relevant weight gain, adverse metabolic effects or drug-induced movement disorders. The potential importance of this efficacy and tolerability profile is underscored by real-world treatment persistence data, which show that treatment discontinuation rates among patients newly treated with D2 receptor antagonists were 61.2% by 3 months and 82.1% by 18 months.1
“Treatment of Tourette syndrome can be complex, as clinicians must balance tic improvement with the side effect profiles of current therapies,” said Donald L. Gilbert, M.D., M.S., senior author of the review and Pediatric Movement Disorders and Tourette Syndrome Specialist, Division of Neurology, Cincinnati Children’s Hospital Medical Center. “Ecopipam selectively targets the dopamine D1 receptor, and the data reviewed in this publication – demonstrating reduced tic severity and sustained benefit without significant weight gain, metabolic complications or movement disorders – supports continued research into D1 receptor antagonism for Tourette syndrome.”
For more information on the review published online in the Journal of Child Neurology, click here.
About Tourette Syndrome
Tourette syndrome is a chronic neuro-developmental disorder characterized by involuntary motor and vocal tics beginning in childhood, often between 5 and 10 years of age.3 For people living with Tourette syndrome, symptoms can be frequent, visible and disruptive, affecting everyday life.3
About Ecopipam and Its Clinical Program
Ecopipam is a first-in-class investigational therapy designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.
Ecopipam was granted Priority Review by the FDA with Orphan Drug designation for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.
The D1AMOND Phase 2b Trial was a 12-week randomized, double-blind, placebo-controlled trial that studied 153 pediatric participants across 68 sites in North America and Europe. The primary efficacy endpoint was the change in the YGTSS-TTS, i.e., sum of the motor and vocal tic scores, from baseline to end of therapy.4 The associated Phase 2b open-label extension enrolled 121 pediatric subjects from the Phase 2b trial and followed them for up to 12 months’ duration to evaluate the long-term safety and tolerability of ecopipam.5 The subsequent D1AMOND Phase 3 Trial was a double-blind, placebo-controlled, randomized withdrawal trial enrolling a total of 216 pediatric and adult participants into an open-label stabilization period and randomizing 104 participants (90 pediatric, 14 adult) across 77 sites in North America and Europe. The objective of this study was to evaluate the maintenance of efficacy of ecopipam in pediatric and adult responders utilizing the YGTSS-TTS change from randomization or increased Tourette-specific care to determine relapse.6 While this Phase 3 trial included adult participants, the accepted NDA and resulting indication sought by Teva are exclusively for pediatric patients.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause Teva’s future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “developing,” “target,” “may,” “expand,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future performance. Important factors that could cause or contribute to such differences include risks and uncertainties relating to: our ability to successfully develop, obtain regulatory approval for and commercialize ecopipam; our ability to successfully compete in the marketplace including our ability to develop and commercialize ecopipam for the treatment of pediatric patients with Tourette syndrome; our ability to successfully execute on our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and to profitably commercialize our innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the second quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
References:
Karkanias, G. B., Flatt, J. A., Korb, R. T., Munschauer, F. E., Wanaski, S. P., Cunniff, T. M., & Gilbert, D. L. (2026). Targeting Dopamine Pathways for the Treatment of Tourette Syndrome. Journal of Child Neurology. https://doi.org/10.1177/08830738261491159U.S. Food and Drug Administration (FDA) Approval Records: Haloperidol (1969), Pimozide (1984), Aripiprazole (2014); Pringsheim, T., et al. (2019). The pharmacological management of tic disorders: an updated practice guideline. Neurology. CDC | Tourette Syndrome | Data and Statistics on Tourette Syndrome, 2024; Mayo Clinic | Tourette Syndrome – Diagnosis and treatment, 2025. Gilbert DL, Dubow JS, Cunniff TM, et al. Ecopipam for Tourette Syndrome: A Randomized Trial. Pediatrics. 2023;151(2):e2022059574. doi:10.1542/peds.2022-059574 Gilbert DL, Kim DJB, Miller MM, et al. Safety and Effect of 12-Month Ecopipam Treatment in Pediatric Patients with Tourette Syndrome. Mov Disord Clin Pract. 2025;12(8):1157-1166. doi:10.1002/mdc3.70091. Gilbert DL, Atkinson SD, Kim DJB, et al. Efficacy and Safety of Ecopipam for Tourette Syndrome: A Phase 3 Randomized Clinical Trial. JAMA Neurol. 2026;83(7):645–653. doi:10.1001/jamaneurol.2026.1431 Teva Media Inquiries: [email protected]
Společnost Salesforce uvedla, že ARR služby Agentforce ve 2. čtvrtletí přesáhl 1,5 miliardy USD, což je o více než 240 % meziročně. Kombinovaný ARR služeb Agentforce a Data 360 dosáhl téměř 3,9 miliardy USD.
Key Takeaways Salesforce's Agentforce ARR topped $1.5 billion in Q2, up more than 240% year over year.Bookings for Agentforce One Edition and Agentforce for Apps more than doubled sequentially in Q2.Salesforce says deeper use of Agentforce, Slack and Data 360 could expand its recurring revenue base. Salesforce, Inc. (CRM - Free Report) is expanding its AI bundles, aiming to make it easier for customers to adopt its growing suite of artificial intelligence (AI) tools. The company is continuously introducing premium bundles that combine new AI capabilities with its existing applications. Earlier in September 2026, it introduced Core, Advanced and Max editions for Agentforce Sales, Service and Industries, bundling AI, Slack, Tableau Next, security and support into a single purchase.
The early results suggest that its bundled approach could help lift recurring revenues. In the second quarter of fiscal 2027, it revealed that bookings from Agentforce One Edition and Agentforce for Apps more than doubled sequentially. Salesforce also stated premium Slack upgrades have tripled since Slackbot launched. These trends indicate that customers are moving from AI trials toward broader purchases.
The impact is already visible in Salesforce’s AI business. Agentforce ARR (annual recurring revenues) topped $1.5 billion in the second quarter, up more than 240% year over year. Combined Agentforce and Data 360 ARR reached nearly $3.9 billion, rising more than 210%. Meanwhile, customers generated 3.2 billion Agentic Work Units in the quarter, up 97% sequentially, pointing to stronger use of AI agents.
Higher adoption could support Salesforce in multiple ways. Bundles can increase spending from existing customers by adding AI features to current contracts. Deeper use of Agentforce, Slack and Data 360 can make Salesforce’s platform more valuable and expand its recurring revenue base.
Still, AI growth has yet to materially change the company’s overall growth rate. Second-quarter revenues rose 11% year over year to $11.35 billion, while management expects fiscal 2027 revenue growth of 11%-12%. Expanding AI bundles are a promising growth lever. If adoption remains strong, they could gradually accelerate Salesforce’s recurring revenue growth.
Salesforce Rivals Intensify AI Bundle CompetitionSalesforce is not the only enterprise software company using bundled AI products to increase customer spending. Its major competitors, Microsoft Corporation (MSFT - Free Report) and Oracle Corporation (ORCL - Free Report) , are also focusing on a similar approach.
Microsoft is expanding Microsoft 365 Copilot across its software ecosystem. In the fourth quarter of fiscal 2026, Microsoft 365 Copilot surpassed 30 million paid seats, with net seat additions more than doubling sequentially and the number of customers deploying above 50,000 seats growing more than sevenfold year over year. Microsoft’s Dynamics 365 revenues also increased 13% year over year in the fourth quarter, showing continued demand for its business applications.
Oracle is taking a similar approach by adding AI capabilities to its cloud applications. The company is moving beyond traditional per-seat licensing to consumption-based token bundles. This approach lets enterprises pre-purchase agentic AI capacity in a predictable, scalable way across application tiers.
In the fourth quarter of fiscal 2026, Oracle’s Cloud Applications revenues reached $4.1 billion, up 10% year over year, while total cloud revenues jumped 47% to $9.9 billion. Oracle’s AI-focused cloud strategy is also driving strong demand across its broader platform.
Salesforce’s Price Performance, Valuation and EstimatesSalesforce shares have declined 10.6% year to date, while the Zacks Internet – Software industry has risen 9.2%.
Salesforce YTD Price Return Performance
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From a valuation standpoint, CRM trades at a forward price-to-earnings ratio of 14.65, significantly below the industry’s average of 30.59.
Salesforce Forward 12-Month P/E Ratio
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The Zacks Consensus Estimate for Salesforce’s fiscal 2027 earnings implies a year-over-year increase of approximately 33.5%, while estimates for fiscal 2028 indicate a 5% decline. Estimates for fiscal 2027 and 2028 earnings have been revised upward in the past 30 days.
Image Source: Zacks Investment Research
Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle uvedla, že multicloud databázové výnosy meziročně vzrostly o 353 %, ale přechod na cloud zvyšuje kapitálovou náročnost a tlačí na volný peněžní tok.
Key Takeaways Oracle's multicloud database revenues surged 353% as its cloud consumption shift accelerated.Pay-per-use pricing expands Oracle's market, but partner-hosted deployments add capital intensity.MongoDB and Snowflake are expanding margins, while Oracle's infrastructure buildout weighs on free cash flow. Oracle Corporation's (ORCL - Free Report) database business is being repositioned around cloud consumption, raising a central question: can its historically lucrative database franchise sustain margins as delivery shifts from licenses to usage?
Oracle made Exadata Database Service on Exascale Infrastructure generally available on Oracle AI Database@AWS, extending Exadata-class performance with pay-per-use pricing. Oracle also signed an expanded long-term collaboration agreement with Amazon Web Services (“AWS”) to accelerate customer migrations. The service now spans 22 AWS Regions.
The momentum was evident in first-quarter fiscal 2027 results. Multicloud database revenues surged 353% year over year, while multicloud customers rose 180%, and Oracle completed its planned expansion across Azure and AWS, reaching 70 multicloud database regions.
The shift, however, carries margin trade-offs. Software revenues, home to the legacy license and support streams, declined 3% to $5.5 billion as customers kept migrating on-premise workloads to the cloud. Pay-per-use pricing widens the addressable market but lowers entry price points, while partner-hosted deployments rely on Oracle hardware placed inside AWS data centers, adding capital intensity absent from traditional support contracts.
Consolidated profitability has held firm so far. Total revenues rose 30% to $19.3 billion, while non-GAAP operating income climbed 31% to $8.2 billion, implying a margin of about 42%, roughly in line with the year-ago level. GAAP operating income jumped 57% to $6.7 billion. Yet capital expenditures reached $28.5 billion, leaving free cash flow at negative $5 billion. Oracle expects to raise about $40 billion through debt and equity in fiscal 2027.
Guidance points to continued scale. For the second quarter, Oracle projects revenue growth of 30-34%, cloud revenue growth of 65-71% and non-GAAP EPS of $1.85-$1.93. For fiscal 2027, it expects revenues of at least $90 billion and non-GAAP EPS of $8.10, supported by remaining performance obligations of $664 billion.
Whether database margins endure will depend on multicloud volumes outpacing the erosion of legacy software revenues, while infrastructure costs keep climbing.
MDB & SNOW Show Consumption Margins ScalingMongoDB (MDB - Free Report) and Snowflake (SNOW - Free Report) offer a useful benchmark for consumption-based database economics. In second-quarter fiscal 2027, MongoDB’s revenues grew 30% to $771.8 million, with Atlas up about 29%, while its non-GAAP operating margin widened to 24% from 15%. MongoDB expects full-year margin expansion of roughly 250 basis points.
Snowflake’s product revenues increased 37% to $1.49 billion and non-GAAP operating margin improved to 15.3% from 11.1%. Snowflake raised its fiscal 2027 margin outlook to 14.5%. Both remain well below Oracle's roughly 42% non-GAAP operating margin, yet each is expanding profitability without the capital-intensive infrastructure buildout that is now weighing on Oracle's free cash flow.
ORCL’s Price Performance, Valuation & EstimatesORCL shares have plunged 29.2% year to date, underperforming the Zacks Computer and Technology sector’s growth of 22.4% and the Zacks Computer - Software industry’s decline of 3.5%.
ORCL’s YTD Price Performance
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ORCL’s valuation remains relatively attractive, with the stock trading at a trailing 12-month P/E ratio of 20.3X, lower than the sector average of 1.02X. Oracle has a Value Score of C.
ORCL’s Valuation Chart
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The Zacks Consensus Estimate for ORCL’s fiscal 2027 earnings is currently pegged at $8.12 per share. The estimate implies 6.42% year-over-year earnings growth.
ORCL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Autodesk ve 2. čtvrtletí 2026 zvýšil tržby meziročně o 16 % a provozní marži na 29 %. Firma těží z integrace umělé inteligence a silného růstu fakturace.
SummaryAutodesk is rated a 'Strong Buy,' trading at a 16.75x forward P/E, well below its historical average.ADSK's connected Design and Make platform, enhanced by the MaintainX acquisition, deepens its end-to-end asset lifecycle solutions and recurring revenue base.Q2 2026 delivered 16% YoY revenue growth, 29% operating margin, and robust billings momentum across geographies and segments.ADSK's AI integration, strong balance sheet, and ongoing share buybacks underpin double-digit EPS growth and long-term total return potential.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More »AlexSecret/E+ via Getty Images
AI-related software stocks are now in an era of heavy capital spend as they build out their infrastructure. Examples include industry heavyweights like Google (GOOG), Meta (META), and Oracle (ORCL). This
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Palo Alto Networks ve 4. čtvrtletí fiskálního roku 2026 přidala asi 220 nových platformizací a u zákazníků na platformě měla čistou retenci tržeb nad 120 %. Firma zároveň uzavřela obchody za 126 milionů USD a 72 milionů USD.
Key Takeaways PANW added 220 net new platformizations in fiscal Q4 2026, more than doubling its volume in two years.Platformized customers delivered net revenue retention above 120%, reflecting expanding product adoption.PANW secured $126 million and $72 million deals, expanding adoption across multiple security platforms. Palo Alto Networks (PANW - Free Report) is seeing strong momentum in its platformization strategy, which enables customers to standardize multiple security products on a unified architecture rather than relying on several separate tools. The company says this approach brings security data and policies together across control points, helping customers simplify operations and respond to threats in real time. PANW is using this strategy across Network Security, Cortex and Idira, while also expanding into areas such as SASE, AI security and observability.
The strategy is gaining traction with customers. In the fourth quarter of fiscal 2026, PANW added approximately 220 net new platformizations, more than twice the volume recorded when it began tracking the metric two years ago. The company also reported net revenue retention above 120% for its platformized customer cohort in the fourth quarter, indicating that customers are expanding their use of the platform.
Customer deals in the fourth quarter showed how Palo Alto Networks is using platformization to increase sales across products. A global telecom leader signed a $126 million agreement to expand its next-generation firewall footprint and replace legacy proxy providers with Prisma Access for SASE. A premier IT service provider signed a $72 million transaction covering Network Security, Cortex and Idira, with eight-figure investments in each. PANW also secured a $53 million deal with a leading global payments platform, which included a high-seven-figure commitment to Prisma AIRS as the customer expanded its enterprise AI initiatives.
The strategy is supporting growth across PANW's major platforms. Network and AI Security revenues grew 17% in fiscal 2026, while Cortex revenues rose 25% and Idira generated $1.26 billion in pro forma revenues, up 21%. PANW is targeting more than 4,000 platformizations by fiscal 2030 as part of its goal of reaching $20 billion in NGS ARR. The strong adoption of platformization and expansion across multiple security products provide a base for continued growth. As of now, PANW will need to maintain customer adoption and execute well across its expanding product portfolio to sustain this momentum.
How Competitors Fare Against PANWCompetitors like CrowdStrike (CRWD - Free Report) and SentinelOne (S - Free Report) are also gaining ground through platform expansion and AI innovation.
CrowdStrike ended its second quarter of fiscal 2027 with $5.84 billion in ARR, reflecting 25% year-over-year growth. The robust increase was fueled by the growing adoption of CrowdStrike’s Falcon Flex subscription model.
Though comparatively a small competitor, SentinelOne posted second-quarter fiscal 2027 year-over-year growth of 22% in its ARR. The growth was fueled by the rising adoption of SentinelOne’s AI-first Singularity platform and Purple AI.
PANW’s Price Performance, Valuation & EstimatesShares of Palo Alto Networks have jumped 115.1% in the year-to-date period compared with the Zacks Security industry’s appreciation of 104.7%.
PANW’s YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Palo Alto Networks trades at a forward price-to-sales ratio of 22.36X compared with the industry’s average of 20.17X. The Zacks Value Score of F suggests that PANW stock is overvalued.
PANW Forward 12-Month P/S Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Palo Alto Networks’ fiscal 2027 and 2028 earnings implies year-over-year growth of 8.9% and 17.6%, respectively. The estimates for fiscal 2027 have been revised up by 7 cents over the past 30 days. The same for fiscal 2028 has been revised down by 2 cents over the past 30 days.
Image Source: Zacks Investment Research
Palo Alto Networks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Chinese e-commerce giant JD.com (9618.HK) is set to secure European Union approval for its $2.5 billion bid for German electronics retailer Ceconomy (CECG.DE) after it tweaked its remedies to address regulators' concerns, a person familiar with the matter said.
The European Commission, which is the EU competition enforcer, is investigating the deal under the Foreign Subsidies Regulation that targets unfair foreign state aid.
At issue is whether JD.com received preferential financing, tax incentives and grants from the Chinese government that may have helped it to offer a higher price for Ceconomy.
The company, which in August offered to grant Ceconomy access to its European logistics and technological capabilities at market rates and also to let smaller rivals get access at fair and non-discriminatory rates, has improved its proposal after feedback from customers and rivals, the person said.
The Commission, which will decide on the deal by November 4, Ceconomy and JD.com all declined to comment.
The acquisition would allow one of China's largest retailers to expand outside its home market via Ceconomy-owned electronic products retailers MediaMarkt and Saturn.
Jefferies vidí u Emitelu až 60% růst ocenění a 34% nárůst čisté hodnoty aktiv Cordiant Digital Infrastructure při úspěšné realizaci růstové strategie. Emitel tvořil 56 % NAV Cordiantu k 31. březnu 2026.
Jefferies said successful execution of Emitel’s growth strategy could deliver 60% valuation upside for the business and increase Cordiant Digital Infrastructure Ltd (LSE:CORD, FRA:86L)’s net asset value by 34%.
The broker reached the estimate after a site visit to Emitel in Kraków, describing Cordiant’s largest asset as a multi-pillar growth opportunity.
Emitel represented 56% of Cordiant’s net asset value at 31 March 2026, making its future performance particularly important to the investment company.
Jefferies reported that Emitel had already achieved a compound annual growth rate of 8.5% in EBITDAaL, which refers to earnings after lease costs, between 2022 and 2025.
Free cash flow grew at a 25.5% compound annual rate over the same period, supporting management’s plans for further expansion across several businesses.
The broadcasting operation aims to digitise its core offering, win a new multiplex known as MUX-5 and develop products including 5G broadcasting.
Emitel also plans to double its tower portfolio from 776 sites while increasing the average number of mobile network operator tenants from 1.8 times to more than 2 times.
Tower expansion could accelerate through Emitel’s existing build-to-suit pipeline with Orange and potential acquisitions from smaller operators or mobile network operators.
The company is also pursuing adjacent markets including data centres, drone infrastructure and security, airspace management, and smart-city projects.
Emitel recently entered Poland’s data centre market by acquiring DC Blonie, a 2MW Warsaw site with Kyndryl as an anchor tenant under a five-year contract.
Jefferies highlighted further upside from filling the remaining space at the site, brownfield development at other Emitel locations and potential acquisitions.
Emitel is targeting high single-digit to low double-digit annual revenue growth and low double-digit annual EBITDA growth through 2030.
Management expects EBITDAaL to exceed PLN700 million in 2030, with the strategy backed by PLN600 million of growth capital expenditure between 2026 and 2030.
Jefferies stated that operational cash flow should fund most of that investment, with debt facilities offering additional support as needed.
The broker rates Cordiant Digital Infrastructure 'buy,' with the shares at 123p against a 52-week range of 96p to 128p, while no price target was provided in the note.
Lockheed Martin, General Dynamics, RTX a Northrop Grumman letos zvýšily čtvrtletní dividendu a všechny zároveň hlásí silný volný cash flow. U obranných firem stojí růst výplat na dlouhých vládních kontraktech a rekordním backlogu.
Defense contractors win contracts that stretch across multiple budget cycles, which means their dividend programs rest on a very different foundation than most industrial companies. Four of the largest primes have raised their payouts every single year, and the reasons…
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Most industrials live and die by the next order cycle. Defense primes book work on government contracts that stretch across several federal budget cycles, so their backlog behaves like a schedule of future cash receipts. One Lockheed Martin (NYSE:LMT | LMT Price Prediction) award, a seven-year contract valued at $35 billion for THAAD interceptors, shows how far that visibility can reach. This bundle is built around dividend growth and payout durability. All four carry modest yields. The appeal lies in long records of raising the quarterly check, backed by free cash flow guidance large enough to fund the next increase. For each stock, the income figure shown is the annualized forward dividend alongside the current share price.
Lockheed Martin: A Record Backlog Stands Behind Every Quarterly Check Lockheed builds the F-35 fighter, THAAD missile-defense interceptors, radars, hypersonic weapons and space systems for the U.S. government and allied militaries. Second-quarter revenue reached $20.06B (+10.5% YoY), and EPS of $7.94 beat the $7.20 estimate.
Income snapshot: The quarterly dividend is $3.45, an annualized forward payout of $13.8 per share against a current price of $510.61. Shares slipped 8.44% over the past month, so the yield on that payout is now measured against a lower share price.
Dividend safety: Management guides to 2026 free cash flow of $7.0 billion to $7.2 billion, after second-quarter free cash flow of $2.92B. Dividends cost $816 million in the first quarter and $796 million in the second. Full-year EPS guidance of $29.95 to $30.65 sits comfortably above the annual dividend. The CFO said the quarter showed “that we can invest for growth and deliver tangible shareholder value at the same time,” and management cites a strong credit rating as backing for its investment plans.
Track record: Lockheed lifted the quarterly rate from $3.3 to $3.45 starting with the 2025-12-01 ex-dividend date, after a prior step from $3.15 to $3.3. Every change in the quarterly rate since $0.11 in 2002 has been an increase. The last two raises were declared on 2025-10-09 and 2024-10-02, so keep an eye on the next declaration.
Bull case: Backlog sits at a record $230.42B, second-quarter book-to-bill hit 3.2 to one, and guidance went up across sales, EPS and free cash flow. Management said: “This deep book of contracts will fuel our sales growth for years to come.”
Risk: Program concentration. F-35 deliveries fell to 19 from 50 YoY in Q2. Management expects the 156-per-year production rate to hold but concedes funding depends on congressional and administration budget decisions. With one aircraft program this central, delivery slowdowns flow directly into cash timing.
General Dynamics: Cash Piling Up While the Shipyards Fill General Dynamics (NYSE:GD) spans Gulfstream business jets, nuclear submarines, surface combatants, auxiliary ships and land combat systems. Second-quarter revenue rose to $14.1 billion, up 8.1%, and EPS of $4.24 beat the $3.97 estimate for a fifth straight EPS beat.
Income snapshot: The quarterly dividend is $1.59, a forward annual rate of $6.36 per share against a price of $332.75. The next ex-dividend date is 2026-10-09, with payment on 2026-11-13. Shares are down 10.39% over the past month.
Dividend safety: First-half free cash flow came to $3.6 billion, against $834 million in dividends paid during first half of 2026. Management raised its full-year cash conversion outlook to “around 105%” of net income. The balance sheet is moving the right way: cash of approximately $4.3 billion and net debt of $3.2 billion, down $1.2 billion in a single quarter after repaying $500 million of notes with no refinancing planned.
Track record: The dividend stepped up from $1.50 to $1.59 starting with the 2026-04-10 ex-dividend date. Every change in the quarterly rate since $0.23 in 2006 has been an increase.
Bull case: Backlog hit a record $136.5 billion, up 32% from a year ago, with total estimated contract value of $186.9 billion. Book-to-bill was 1.4 to 1 and topped 1 to 1 in all four segments, and full-year EPS guidance rose to $16.80 to $16.90.
Risk: Shipbuilding capital intensity. Marine margin runs at 7.3% versus 14.5% in Aerospace, and the CFO warned “the profile of our investment” will grow significantly in the back half, alongside an approximately $500 million pension contribution. Second-half cash flow will look thinner than the first.
RTX: Jet Engine Aftermarket Gives This Payout a Second Engine RTX (NYSE:RTX) runs three businesses: Collins Aerospace ($8.21B in second-quarter revenue), Pratt & Whitney engines ($8.89B) and Raytheon defense systems ($8.27B). Its $289B backlog splits $162B commercial / $109B defense, making it the most commercially weighted name here.
Income snapshot: RTX pays $0.73 quarterly, a forward annual rate of $2.92 against a price of $185.68. The stock is up 12.61% over a year despite a 10.61% slide over the past month.
Dividend safety: Management raised 2026 free cash flow guidance to $8.50 to $8.75 billion, and second-quarter free cash flow reached $2.88B (vs. $69M prior year). Adjusted EPS guidance of $7.10 to $7.25 covers the forward dividend several times over. The chief executive said: “A commitment to the dividend, for sure. Obviously, we raised the dividend again here recently.” Debt reduction ranks alongside the payout among capital priorities.
Track record: The quarterly rate rose from 0.68 to 0.73 starting with the 2026-05-22 ex-dividend date. The record shows the rate reset to 0.475 in 2020, alongside a one-time 40.58 entry, and every change since has been an increase.
Bull case: Pratt commercial aftermarket sales grew 25%, and Raytheon posted a book-to-bill of 2.42. Civil aviation repair revenue and defense orders fund the same dividend, giving RTX two independent cash streams.
Risk: Commercial engine exposure. The Pratt & Whitney powder-metal GTF issue still requires accelerated inspections, with roughly $150 million of related compensation in the quarter. Management also flagged that part of second-quarter cash reflected timing and that inventory builds will weigh on working capital.
Northrop Grumman: Record Awards and a Marked-Down Share Price Northrop Grumman (NYSE:NOC) builds the B-21 bomber, the Sentinel ICBM, munitions and a large slate of restricted programs. Second-quarter awards totaled $20B, including $7.6B Sentinel and $4.3B restricted, pushing backlog to a record $104.69B. EPS of $7.68 beat the $6.82 estimate.
Income snapshot: The quarterly dividend is $2.47, a forward annual rate of $9.88 against a price of $485.01. Shares are down 19.07% over the past year, so the rising payout is now measured against a lower share price.
Dividend safety: Northrop reaffirmed 2026 free cash flow guidance of $3.1 to $3.5B, after second-quarter free cash flow of $978M (+53.5%) offset a seasonal first-quarter outflow of -$1.82B. MTM-adjusted EPS guidance of $28.60 to $29.10 sits well above the dividend. The CFO said “we understand how important free cash flow is for our investors.”
Track record: The rate climbed from $2.31 to $2.47 starting with the 2026-06-01 ex-dividend date, following raises to $2.31 and $2.06 in the prior two years. Setting aside a one-time $6.366 payment in 2011, every change in the regular quarterly rate since $0.23 in 2004 has been an increase.
Bull case: Management expects full-year book-to-bill of at least 1.25 times and targets doubling international sales to $10 billion by 2031.
Risk: Fixed-price development and classified program dependence. Operating income fell 23.1% on $68M SiAW and $91M GEM 63XL unfavorable adjustments, while net income leaned on a one-time $179M IRS benefit. Restricted programs disclose little, so cost overruns tend to surface as surprise charges, and capex near 4.5% of sales in 2027 and 2028 for the B-21 ramp will compete with payout growth.
Four Raises in a Year Keep the Growth Story Intact All four companies raised their quarterly dividends within the past 12 months, and all four guide to free cash flow that dwarfs what they pay out. Lockheed brings a record contracted book, General Dynamics a rapidly falling net debt, RTX a commercial cash stream layered on defense, and Northrop a classified franchise trading well below last year’s price. For income investors who prioritize rising checks over a big starting yield, this group offers long raise records worth researching.
If multi-decade raise records are the appeal here, it is worth looking beyond defense too. We ranked ten companies with 50-plus consecutive years of dividend increases by valuation in a free Dividend Kings report.
Contact [email protected] for any questions or corrections.
According to an announcement from Bithumb, the South Korean crypto exchange will launch a new Talus (US) South Korean won (KRW) trading market, with support limited to the Sui network; deposits on other networks are not currently supported. The announcement notes that Talus (US) deposits and withdrawals will open within two hours of the announcement’s release, with trading set to commence at 15:00 KST on October 2. The benchmark price is 37.85 KRW, and deposits require 20 confirmations. After the new trading pair goes live, buy orders will be restricted for the first five minutes.
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Alaska Airlines rozšiřuje boj o Seattle s Delta i do Evropy a Asie: chce do roku 2030 ztrojnásobit počet mezikontinentálních destinací z města na alespoň 15. Plánuje zahájit lety do Paříže a Athén příští rok a sází na prémiové kabiny a mezinárodní tržby.
Alaska Airlines (ALK.N) is taking its decade-long Seattle battle with Delta Air Lines (DAL.N) overseas, deploying the widebody jets it acquired with Hawaiian Airlines to go head-to-head for premium international travelers.
For much of its history, Alaska made money by operating more cheaply than the large US network carriers and cultivating loyalty in the Pacific Northwest through a largely domestic network.
The carrier, based in a region that is home to Amazon (AMZN.O), Microsoft (MSFT.O), Starbucks (SBUX.O) and Costco (COST.O), as well as major Boeing (BA.N) operations, now wants to earn more from premium cabins, international travel and its loyalty program without sacrificing its cost advantage.
Alaska aims to triple its intercontinental destinations from Seattle to at least 15 by 2030 and become the city's largest international carrier. It plans to launch flights to Paris and Athens next year.
But about 92% of Alaska's scheduled intercontinental seats from Seattle in the 12 months through August 2027 are on routes Delta also serves nonstop, a Reuters analysis of Cirium data shows, placing nearly all that capacity in direct competition with its larger rival.
Alaska's shift is a bet that premium and international revenue can close a gap with larger rivals that its cost advantage alone cannot bridge.
In the first half, the carrier spent about 17% less than the average of Delta, United Airlines (UAL.O) and American Airlines (AAL.O) to fly a seat one mile, excluding fuel, a Reuters analysis of company filings found. But it generated roughly a fifth less revenue per seat mile, leaving it less room to absorb the fuel-price shock tied to the Iran war.
"The airlines that actually have high cost structures are the ones making the highest margins," Alaska CEO Ben Minicucci told investors on Tuesday. "We need to pivot."
The fight at the third-busiest airport on the US West Coast reflects a broader industry battle for premium, international and loyalty revenue, an increasingly important source of profits for the largest carriers. A similar contest between American and United is playing out at Chicago O'Hare.
Delta, which calls Seattle its "premier Pacific gateway," added Rome service this summer and plans a daily flight to Tokyo Narita from March 2027, a route Alaska already serves. It has also secured preferential access to 18 airport gates and opened two additional lounges.
For Alaska, the stakes are high as the fuel-price shock has squeezed its profits this year.
The company estimates international travel accounts for roughly 30% of airline revenue in Seattle, a pool of business it historically captured only in part.
It is adding Boeing 787s, premium cabins and lounges to build Seattle into a gateway to Europe and Asia.
Alaska said on Tuesday it plans to join American's revenue-sharing ventures across the Atlantic and Pacific. If regulators grant antitrust immunity and other approvals, it could coordinate fares and schedules and share revenue with American and its overseas partners on covered routes.
HOME-TURF ADVANTAGE
The pivot centers on Alaska's home market, where Delta has built a rival hub. The carriers ended their codesharing and frequent-flier partnership in 2017 as competition intensified.
Alaska, including Hawaiian, accounts for about half of scheduled airline seats in the Seattle area, roughly twice Delta's share. Across the oceans, the balance reverses: Delta has about twice as many scheduled intercontinental seats from Seattle over the same period, Cirium data shows.
Alaska plans to use its home-market advantage to narrow the gap, funneling travelers from across the West onto its long-haul flights.
More than half of passengers on Alaska's Seoul and Reykjavik flights connect through Seattle, the company told Reuters, while London and Rome depend more heavily on local traffic. In an interview, President and Chief Financial Officer Shane Tackett said connecting traffic has run above expectations on some long-haul routes.
Delta did not respond to a request for comment.
THE COST OF GOING GLOBAL
Going global will add aircraft, crews and operating complexity while putting Alaska into more direct competition with Delta. The risk is that those costs could arrive faster than the new revenue needed to pay for them.
Melius Research analyst Conor Cunningham said Alaska is focused on the right areas but faces near-term pressure from high fuel costs and heavier competition in key markets.
Alaska has limited financial room for a strategic misstep: it expects to end 2026 with net leverage — debt relative to earnings — at three times its long-term target.
Alaska's 787 operation has higher-than-normal crew expenses as it builds pilot and flight-attendant bases in Seattle. Tackett said those costs should normalize as more aircraft arrive and the operation gains scale.
Its first European summer showed how quickly the economics can turn. Stronger-than-expected premium demand to London helped the operation turn a profit in July before higher fuel prices erased that gain, Tackett said.
Alaska expects nearly 60% of revenue to come from outside the price-sensitive main cabin by 2030, up from 53% this year, a shift it is betting will make the business more resilient.
"What we've recognized is the winning airline of the future looks different than it did 10 years ago," Tackett told Reuters.
