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Texas Instruments Incorporated (NASDAQ:TXN) will release its second quarter earnings report after the closing bell on Wednesday, July 22.

Analysts expect the Dallas, Texas-based company to report quarterly earnings of $1.92 per share, up from $1.41 per share in the year-ago period. The consensus estimate for Texas Instruments’ quarterly revenue is $5.24 billion. It reported $4.45 billion last year, according to Benzinga Pro.

On July 16, the company’s board of directors declared a quarterly cash dividend of $1.42 per share.

Texas Instruments shares rose 2.6% to close at $291.30 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying TXN stock? Here’s what analysts think:

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The Coinbase logo is seen in this illustration created on November 3, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 22 (Reuters) - Coinbase (COIN.O), opens new tab has settled a Freedom of Information Act lawsuit against the U.S. ​Securities and Exchange Commission over records it ‌sought from the agency, the cryptocurrency exchange's chief legal officer, Paul Grewal, said in a Wall Street Journal op-ed ​on Wednesday.

Grewal said the agency, which polices corporate ​record-keeping, had lost text messages between former Chair ⁠Gary Gensler and other officials after a process ​the SEC said "automatically wiped" certain data.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

As part of ​the settlement, the SEC will pay $150,000 and fix its record-retention policies, he wrote.

SEC did not immediately respond to a Reuters request ​for comment.

Coinbase sued the SEC and the Federal ​Deposit Insurance Corp. in 2024, seeking documents it said would ‌show ⁠a concerted effort by U.S. regulators to stamp out crypto companies.

The lawsuit sought additional communications from senior SEC officials, including Gensler.

Coinbase has scored major wins from ​the SEC under ​U.S. President ⁠Donald Trump, including the dismissal of a major lawsuit the regulator brought against ​the company under President Joe Biden.

It ​also championed ⁠a stablecoin bill passed by the U.S. Congress.

Reuters has reported that the SEC is preparing more industry-friendly ⁠policies, ​including one that would allow crypto ​companies to offer blockchain-based stocks.

Reporting by Hannah Lang in New York ​and Utkarsh Shetti in Bengaluru; Editing by Tasim Zahid

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

July 22, 2026 07:05 ET  | Source: Royalty Pharma plc

NEW YORK, July 22, 2026 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a portion of Neurimmune’s royalty interest in AstraZeneca’s cliramitug for up to $425 million, including $125 million upfront.

Cliramitug is a Phase 3 first-in-class TTR-fibril-depleting antibody designed to remove amyloid deposits in patients with TTR amyloidosis with cardiomyopathy (ATTR-CM), a progressive, degenerative and fatal disease caused by misfolded proteins that accumulate in the heart. Currently approved therapies for ATTR-CM slow disease progression by preventing ATTR accumulation but do not target amyloid already accumulated in the heart. Cliramitug is currently in the Phase 3 DepleTTR-CM trial with results expected in 2028i.

“We are excited to acquire a royalty interest in cliramitug,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Cliramitug combines a differentiated scientific approach with promising clinical data and addresses a rapidly growing market with significant unmet need. Cliramitug is our second recent investment in this indication and has the potential to transform the ATTR-CM disease course. This therapy further bolsters our development-stage pipeline, and we believe it will become a valuable contributor to our portfolio over the long term.”

“We are developing a novel class of therapeutics and are excited to enter into a partnership with Royalty Pharma related to our cardiac ATTR depleter, cliramitug,” said Roger M. Nitsch, President and Chief Executive Officer of Neurimmune. “Today’s transaction is providing funds to further advance our internal R&D pipeline while retaining the majority of our royalty and milestone interests in cliramitug.”

The ATTR-CM market grew over 40% in 2025 to greater than $7 billion in sales, driven by increasing diagnosis rates and new therapeutic options. AstraZeneca provided a peak sales target of between $3 billion and $5 billion for cliramitug at its May 2024 Investor Day.

Transaction terms
Under the terms of the agreement, Royalty Pharma will provide Neurimmune up to $425 million, including $125 million upfront, in exchange for a 3% to 4% royalty on worldwide net sales of cliramitug. In the first quarter of 2027, Royalty Pharma will provide another $125 million in cash to Neurimmune, with the remaining $175 million payable based on the achievement of certain clinical and regulatory milestones.

Advisors
Goodwin Procter and Maiwald acted as legal advisors to Royalty Pharma.

About Royalty Pharma plc 
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.

Royalty Pharma Investor Relations and Communications
+1 (212) 883-6772
[email protected]

_______________________________________
i Phase 3 results timing based on AstraZeneca guidance.

, /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today reported financial results for the second quarter of 2026.

The company reported revenue of $1.7 billion and operating income of $1.1 billion for the second quarter of 2026. Net income was $1.0 billion and diluted earnings per common share were $2.88. On an adjusted basis, operating income was $1.2 billion, net income was $1.1 billion and diluted earnings per common share were $2.99. Financial results presented on an adjusted basis for the second quarter of 2026 and 2025 exclude certain items, which are detailed in the reconciliation of non-GAAP results.1    

"The first half of 2026 was the strongest in CME Group's history," said CME Group Chairman and Chief Executive Officer Terry Duffy. "We delivered record H1 performance across revenue, adjusted operating income, adjusted net income and adjusted earnings per share, all of which were powered by record trading in Q1 and our second-highest Q2 volumes ever. During Q2, market data revenue increased 20% to a record $238 million. Importantly, we provided more than $95 billion in daily margin efficiencies during the quarter, a new high that represents unparalleled capital savings that our clients can redeploy in their businesses. We also continue to innovate a number of new tools to help clients manage risk and pursue opportunities, including Single-Stock futures, 1-Ounce Gold contracts available 24/7, U.S. Treasury clearing and Compute futures."

Second-quarter 2026 average daily volume (ADV) was the third highest quarterly ADV reaching 29.8 million contracts, which included non-U.S. ADV of 9.1 million contracts.

Clearing and transaction fees revenue for second-quarter 2026 totaled $1.4 billion. The total average rate per contract was $0.678. Market data revenue totaled a record $238 million for second-quarter 2026.

1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of Adjusted Operating Income and Adjusted Net Income and Adjusted Earnings per Common Share charts at the end of the financial statements.

As of June 30, 2026, the company had $2.3 billion in cash (including $200 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company paid dividends during the second quarter of approximately $468 million and repurchased $695 million in CME Group common shares.

CME Group will hold a Q&A conference call to discuss second-quarter 2026 results at 8:30 a.m. Eastern Time today. A live audio webcast of the Q&A call will be available on the Investor Relations section of CME Group's website at investor.cmegroup.com under Events & Presentations. An archived recording will be available for up to two months after the call.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.    

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

Statements in this press release that are not historical facts are forward-looking statements.  These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affect our performance are increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development, implementation and maintenance of the enhanced functionality required by our customers while maintaining reliability and ensuring that such technology is not vulnerable to security risks; our ability to continue introducing innovative and competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and derive revenues that are commensurate with our efforts and expectations, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to manage variable costs associated with CME Group's transition to the Google Cloud, and minimize duplicative costs of maintaining both on-premise and Google Cloud environments during the transition; the resilience of our electronic platforms and the soundness of our business continuity and disaster recovery plans, including in the event of cyberattacks and cyberterrorism or as impacted by a failure of or disruption at one of our suppliers; our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract new customers; our ability to expand and globally offer our products and services; changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operational resources from us or our customers, as well as the impact of tariffs and tax policy changes, restrictions on our ability to offer CME Group products and services in specific geographies or to specific customers or limitations or changes in underlying/physical product flows across geographies; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our credit and liquidity risk management practices to adequately protect us from the credit risks of clearing firms and other counterparties, and to satisfy the margin and liquidity requirements associated with the BrokerTec matched principal business; the ability of our compliance and risk management programs to effectively monitor and manage our risks, including our ability to prevent errors and misconduct and protect our infrastructure against security breaches and misappropriation of our intellectual property assets; our dependence on third-party providers and exposure to risk from third parties, including risks related to the performance, reliability and security of technology used by, or facilities provided by, our third-party providers and third-party providers that our clients and third-parties rely on; our reliance on third-party distribution partners, including independent software vendors, futures commission merchants, introducing brokers, broker-dealers, regulatory reporting and data distributors and platform operators, and other partners, for facilitating trading and for market data information, and potential impacts from changes in their business models and priorities; volatility in commodity, equity and fixed income prices, and price volatility of financial benchmarks and instruments such as interest rates, equity indices, fixed income instruments and foreign exchange rates; economic, social, political and market conditions, including new and existing geopolitical tensions or conflicts, the volatility of the capital and credit markets and the impact of economic conditions on the trading activity of our current and potential customers; our ability to accommodate increases in contract volume and market data and order transaction traffic across the entire trade cycle and the ability to implement enhancements meeting our regulatory obligations and customer needs without failure or degradation of the performance of our trading and clearing systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks, control the costs and achieve the synergies associated with our strategy for acquisitions, investments, alliances, strategic partnerships and joint ventures; variances in earnings on cash accounts and collateral that our clearing house holds; impact of CME Group pricing/fee level and structure and incentive changes; impact of aggregation services and internalization on trade flow and volumes; any negative financial impacts from changes to the terms of intellectual property and index rights; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry, channel partner and customer consolidation and/or concentration; decreases in trading and clearing activity; the imposition of a transaction tax or user fee on futures and options transactions and/or repeal of the 60/40 tax treatment of such transactions; increases in effective tax rates, borrowing costs, or changes in tax policy; our ability to maintain our brand and reputation; and the unfavorable resolution of material legal proceedings. For a detailed discussion and additional information concerning these and other factors that might affect our performance, see our other recent periodic filings, including our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission ("SEC") on February 26, 2026, under the caption "Risk Factors".

CME Group Inc. and Subsidiaries

Consolidated Balance Sheets

(in millions)

June 30, 2026

December 31, 2025

ASSETS

Current Assets:

Cash and cash equivalents

$                 2,144.2

$                 4,416.9

Marketable securities

131.4

125.0

Accounts receivable, net of allowance

753.1

639.2

Other current assets (includes $4.4 and $6.5 in restricted cash)

491.7

522.1

Performance bonds and guaranty fund contributions

158,110.7

159,656.1

Total current assets

161,631.1

165,359.3

Property, net of accumulated depreciation and amortization

351.2

362.7

Intangible assets—trading products

17,175.3

17,175.3

Intangible assets—other, net

2,494.6

2,610.7

Goodwill

10,505.8

10,514.7

Other assets

2,518.6

2,401.5

Total Assets

$             194,676.6

$             198,424.2

LIABILITIES AND EQUITY

Current Liabilities:

Accounts payable

$                      68.0

$                      71.8

Other current liabilities

538.6

568.8

Performance bonds and guaranty fund contributions

158,110.7

159,656.1

Total current liabilities

158,717.3

160,296.7

Long-term debt

3,424.2

3,422.3

Deferred income tax liabilities, net

5,220.9

5,242.2

Other liabilities

793.8

734.8

Total Liabilities

168,156.2

169,696.0

Total CME Group Shareholders' Equity

26,520.4

28,728.2

Total Liabilities and Equity

$             194,676.6

$             198,424.2

CME Group Inc. and Subsidiaries

Consolidated Statements of Income

(dollars in millions, except per share amounts; shares in thousands)

Quarter Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Revenues

Clearing and transaction fees

$   1,352.5

$   1,388.0

$  2,895.1

$  2,725.3

Market data and information services

238.1

198.1

462.2

392.6

Other

115.6

105.9

229.0

216.4

Total Revenues

1,706.2

1,692.0

3,586.3

3,334.3

Expenses

Compensation and benefits

233.5

221.6

456.5

428.3

Technology

83.3

70.9

159.9

136.6

Professional fees and outside services

29.1

37.4

57.3

65.9

Amortization of purchased intangibles

56.0

56.1

112.1

111.3

Depreciation and amortization

28.2

27.3

55.4

54.6

Licensing and other fee agreements

109.1

96.2

215.9

192.8

Other

59.9

53.2

112.4

107.5

Total Expenses

599.1

562.7

1,169.5

1,097.0

Operating Income

1,107.1

1,129.3

2,416.8

2,237.3

Non-Operating Income (Expense)

Investment income

1,429.7

1,518.4

2,819.0

2,411.1

Interest and other borrowing costs

(43.6)

(44.0)

(87.2)

(85.7)

Equity in net earnings of unconsolidated subsidiaries

97.7

99.0

200.1

187.2

Other non-operating income (expense)

(1,263.2)

(1,372.4)

(2,510.1)

(2,174.8)

Total Non-Operating Income (Expense)

220.6

201.0

421.8

337.8

Income before Income Taxes

1,327.7

1,330.3

2,838.6

2,575.1

Income tax provision

285.9

305.2

642.5

593.8

Net Income

$   1,041.8

$   1,025.1

$  2,196.1

$  1,981.3

Net Income Attributable to Common Shareholders of
CME Group - Basic(1)

$   1,041.8

$   1,012.2

$  2,200.4

$  1,956.4

Net Income Attributable to Common Shareholders of
CME Group - Diluted(1)

$   1,041.8

$   1,012.2

$  2,196.1

$  1,956.4

Earnings per Share Attributable to Common
Shareholders of CME Group:

Basic

$         2.89

$         2.81

$        6.11

$        5.44

Diluted

2.88

2.81

6.06

5.43

Weighted Average Number of Common Shares:

Basic

360,684

359,658

360,005

359,636

Diluted(2)

361,282

360,355

362,233

360,297

1. The difference between Net Income and Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.

2. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.

CME Group Inc. and Subsidiaries

Reconciliation of Adjusted Operating Income

(dollars in millions)

Quarter Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Total Revenues

$    1,706.2

$    1,692.0

$  3,586.3

$  3,334.3

Adjusted Total Revenues

$    1,706.2

$    1,692.0

$  3,586.3

$  3,334.3

Total Expenses

$       599.1

$       562.7

$  1,169.5

$  1,097.0

Restructuring and severance

(6.0)

(1.4)

(10.0)

(2.5)

Deferred compensation(1)

(12.4)

(7.7)

(11.6)

(5.5)

Amortization of purchased intangibles

(56.0)

(56.2)

(112.1)

(111.3)

Strategic transaction-related (costs) credits

(1.0)

(2.8)

(1.6)

(2.8)

Real estate-related (costs) credits

0.7

8.1

—

8.1

Foreign exchange transaction gains (losses)

(0.3)

(3.5)

0.6

(5.9)

Unrealized and realized gains (losses) on assets

—

(0.4)

—

(0.4)

Litigation matters or settlements

(2.9)

(7.6)

(1.9)

(10.9)

Adjusted Total Expenses

$       521.2

$       491.2

$  1,032.9

$      965.8

Operating Income

$    1,107.1

$    1,129.3

$  2,416.8

$  2,237.3

Adjusted Operating Income

$    1,185.0

$    1,200.8

$  2,553.4

$  2,368.5

1. Includes $12.4 million and $11.6 million for changes in our non-qualified deferred compensation liability in the second quarter and first six months of 2026. This impact does not affect net income and adjusted net income, because the compensation and benefits change has an equal and offsetting change in investment income.

CME Group Inc. and Subsidiaries

Reconciliation of Adjusted Net Income and Adjusted Earnings per Common Share

(dollars in millions, except per share amounts; shares in thousands)

Quarter Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

Net Income

$    1,041.8

$    1,025.1

$  2,196.1

$  1,981.3

Restructuring and severance

6.0

1.4

10.0

2.5

Amortization of purchased intangibles(1)

60.0

69.4

120.1

137.6

Strategic transaction-related costs (credits)(2)

0.3

2.8

0.4

2.8

Real estate-related costs (credits)

(0.7)

(8.1)

—

(8.1)

Foreign exchange transaction (gains) losses

0.3

3.6

(0.6)

6.0

Unrealized and realized (gains) losses on investments

(3.9)

—

19.0

6.4

Unrealized and realized (gains) losses on assets

—

0.4

—

0.4

Litigation matters or settlements

2.9

7.6

1.9

10.9

Income tax effect related to above

(15.3)

(15.5)

(36.3)

(31.6)

Other income tax items(3)

(9.7)

(7.3)

(8.8)

(8.9)

Adjusted Net Income

$    1,081.7

$    1,079.4

$  2,301.8

$  2,099.3

Adjusted Net Income Attributable to Common
Shareholders of CME Group - Basic(4)

$    1,081.7

$    1,065.8

$  2,305.6

$  2,072.9

Adjusted Net Income Attributable to Common
Shareholders of CME Group - Diluted(4)

$    1,081.7

$    1,065.8

$  2,301.8

$  2,072.9

Earnings per Share Attributable to Common Shareholders of CME Group:

     Basic

$         2.89

$         2.81

$       6.11

$       5.44

     Diluted

2.88

2.81

6.06

5.43

Adjusted Earnings per Share Attributable to Common Shareholders of CME
Group:

     Basic

$         3.00

$         2.96

$       6.40

$       5.76

     Diluted

2.99

2.96

6.35

5.75

Weighted Average Number of Common Shares:

     Basic

360,684

359,658

360,005

359,636

     Diluted(5)

361,282

360,355

362,233

360,297

1. Includes $2.6 million and $5.2 million of amortization of purchased intangibles at S&P Dow Jones Indices LLC and $1.4 million and $2.8 million of amortization of purchased intangibles at FanDuel Prediction Markets Holdings LLC in the second quarter and first six months of 2026. This is reported in Equity in net earnings of unconsolidated subsidiaries on the Consolidated Statements of Income.

2. The values shown above may differ from what is shown in the Reconciliation of Adjusted Operating Income as that schedule does not include adjustment items or portions of items included in non-operating results.

3. Other income tax items in the second quarter of 2026 include benefits related to the resolution of certain state income tax examinations and adjustments to tax reserves and tax receivables.

4. The difference between Adjusted Net Income and Adjusted Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.

5. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.

CME Group Inc. and Subsidiaries

Quarterly Operating Statistics

2Q 2025

3Q 2025

4Q 2025

1Q 2026

2Q 2026

Trading Days

62

64

64

61

62

Quarterly Average Daily Volume (ADV)(1)

CME Group ADV (in thousands)

Product Line

2Q 2025

3Q 2025

4Q 2025

1Q 2026

2Q 2026

Interest rates

15,472

13,378

13,010

18,674

14,532

Equity indexes

7,661

6,278

7,738

8,655

8,633

Foreign exchange

1,096

834

853

1,193

989

Energy

3,082

2,295

2,523

3,985

2,667

Agricultural commodities

1,964

1,712

1,787

2,042

2,080

Metals

943

825

1,441

1,682

941

Total

30,217

25,322

27,353

36,231

29,843

Venue

CME Globex

28,097

23,418

25,542

33,633

27,935

Open outcry

993

989

816

1,241

830

Privately negotiated

1,127

915

995

1,357

1,078

Total

30,217

25,322

27,353

36,231

29,843

Quarterly Average Rate Per Contract (RPC)(1)

CME Group RPC

Product Line

2Q 2025

3Q 2025

4Q 2025

1Q 2026

2Q 2026

Interest rates

$          0.481

$          0.487

$          0.486

$          0.457

$          0.480

Equity indexes

0.635

0.652

0.611

0.597

0.605

Foreign exchange

0.772

0.841

0.847

0.780

0.813

Energy

1.138

1.214

1.245

1.084

1.131

Agricultural commodities

1.435

1.423

1.427

1.344

1.426

Metals

1.456

1.505

1.295

1.153

1.315

Average RPC

$          0.690

$          0.702

$          0.707

$          0.652

$          0.678

1. ADV and RPC includes futures and options on futures only.

CME-G

SOURCE CME Group

Posted by Defense World Staff on Jul 22nd, 2026

Woodward (NASDAQ:WWD – Get Free Report) is expected to be posting its Q3 2026 results after the market closes on Wednesday, July 29th. Analysts expect Woodward to announce earnings of $2.44 per share and revenue of $1.1104 billion for the quarter. Woodward has set its FY 2026 guidance at 9.150-9.450 EPS. Investors may review the information on the company’s upcoming Q3 2026 earning results page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 5:00 PM ET.

Woodward (NASDAQ:WWD – Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.10 by $0.17. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Woodward had a return on equity of 20.12% and a net margin of 12.85%.The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. On average, analysts expect Woodward to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Woodward Stock Up 4.1% NASDAQ WWD opened at $406.87 on Wednesday. The stock has a market capitalization of $24.24 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 2.33 and a beta of 0.86. Woodward has a 52 week low of $233.31 and a 52 week high of $450.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.19 and a current ratio of 1.73. The stock has a fifty day moving average of $389.09 and a 200-day moving average of $373.25.

Woodward Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.28 annualized dividend and a yield of 0.3%. Woodward’s dividend payout ratio (DPR) is currently 15.33%.

Insiders Place Their Bets In other Woodward news, Director Daniel G. Korte sold 14,700 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $356.05, for a total transaction of $5,233,935.00. Following the transaction, the director owned 4,434 shares in the company, valued at approximately $1,578,725.70. This trade represents a 76.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karrie M. Bem sold 185 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $355.00, for a total value of $65,675.00. Following the transaction, the executive vice president owned 3,648 shares of the company’s stock, valued at $1,295,040. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,629 shares of company stock valued at $5,570,005. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Woodward by 122.0% during the third quarter. Invesco Ltd. now owns 905,578 shares of the technology company’s stock valued at $228,849,000 after purchasing an additional 497,722 shares during the period. Findlay Park Partners LLP raised its holdings in Woodward by 136.2% in the fourth quarter. Findlay Park Partners LLP now owns 686,200 shares of the technology company’s stock worth $207,452,000 after purchasing an additional 395,726 shares during the period. Two Sigma Investments LP raised its holdings in Woodward by 1,086.9% in the third quarter. Two Sigma Investments LP now owns 330,514 shares of the technology company’s stock worth $83,524,000 after purchasing an additional 302,666 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Woodward during the fourth quarter worth $65,918,000. Finally, Soros Fund Management LLC bought a new position in shares of Woodward during the fourth quarter worth $54,798,000. Institutional investors own 81.18% of the company’s stock.

Analyst Ratings Changes A number of analysts recently commented on WWD shares. Truist Financial lifted their price objective on Woodward from $404.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “buy (b)” rating on shares of Woodward in a research report on Friday. Susquehanna initiated coverage on shares of Woodward in a research note on Tuesday, May 26th. They issued a “positive” rating and a $423.00 target price on the stock. UBS Group lifted their price target on shares of Woodward from $427.00 to $429.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada started coverage on shares of Woodward in a research note on Thursday, April 16th. They set an “outperform” rating and a $450.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Woodward currently has an average rating of “Moderate Buy” and an average price target of $395.50.

View Our Latest Stock Report on WWD

About Woodward (Get Free Report)

Woodward, Inc (NASDAQ: WWD) is a global leader in the design, manufacture and service of control systems and components for the aerospace and industrial markets. Founded in 1870 and headquartered in Fort Collins, Colorado, the company specializes in motion control, fuel systems, actuation, and digital control solutions. Its offerings enable precision management of flow, pressure and motion in critical applications ranging from aircraft engines and power turbines to hydraulic systems.

Woodward’s product portfolio is organized into two primary segments: Aerospace and Industrial.

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Otis delivers organic Service sales growth of 9% matching the highest level since spin with strong double-digit growth in modernization and repair and accelerating maintenance trends

Second quarter 2026

Net sales up 7% and organic sales up 6%, driven by Service net sales up 11% with organic sales up 9%, and New Equipment net sales flat with organic sales down (1)%, improving sequentially GAAP operating profit up $28 million and adjusted operating profit down $25 million Modernization orders up 9% at constant currency, backlog up 24%, 26% at constant currency Operating cash flow of $267 million; adjusted free cash flow of $290 million Share repurchases of approximately $400 million First half 2026

Net sales up 7% and organic sales up 4%, driven by Service net sales up 11% with organic sales up 7% GAAP operating profit up $156 million and adjusted operating profit down $35 million Operating cash flow of $680 million; adjusted free cash flow of $562 million Share repurchases of approximately $800 million , /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) reported second quarter 2026 net sales of $3.9 billion with organic sales up 6% versus the prior year. GAAP earnings per share (EPS) increased 13% to $1.12 and adjusted EPS decreased 4% to $1.01.

"Otis delivered a solid quarter, with net sales up 7%, supported by growth across all Service lines and sequential improvement in New Equipment trends. Our strategy, actions and investments in Service quality are gaining traction as evidenced by double-digit growth in both modernization and repair sales with maintenance growth also accelerating, contributing to Service sales growth that matched the highest level achieved since spin," said Chair, CEO & President Judy Marks. "Strong backlog in both modernization and New Equipment provides good visibility and supports our expectation for continued growth in the quarters ahead. We remain confident in the long-term growth opportunities across our Service portfolio. An aging installed base and our customers' increasing focus on reliability, uptime and Service quality are driving favorable demand in both modernization and repair, contributing to drive sustained growth and value creation."

Judy Marks continued, "As we look to the second half of the year and take a measured approach to our outlook, we remain confident in the durability of our Service-led growth model. We are continuing to invest in our strategic priorities including Service quality, pricing initiatives, and the application of digital technology with a focus on front-line operating excellence and strong execution across the globe. This Service-driven strategy reinforces our conviction in the long-term growth potential of the business and our ability to deliver sustainable value creation for shareholders over time."

Key Figures

Quarter Ended June 30,

Six Months Ended June 30,

(dollars in millions, except per share
amounts)

2026

2025

Y/Y

Y/Y
(CFX)

2026

2025

Y/Y

Y/Y
(CFX)

Net sales

$  3,859

$  3,595

7 %

6 %

$  7,425

$  6,945

7 %

4 %

Organic sales growth

6 %

4 %

GAAP

Operating profit

$    575

$    547

$     28

$  1,114

$    958

$    156

Operating profit margin

14.9 %

15.2 %

(30) bps

15.0 %

13.8 %

120 bps

Net income

$    428

$    393

9 %

$    768

$    636

21 %

Earnings per share

$   1.12

$   0.99

13 %

$   1.99

$   1.60

24 %

Adjusted non-GAAP comparison

Operating profit

$    587

$    612

$   (25)

$  (32)

$  1,137

$  1,172

$   (35)

$  (70)

Operating profit margin

15.2 %

17.0 %

(180) bps

15.3 %

16.9 %

(160) bps

Net income

$    389

$    416

(6) %

$    736

$    784

(6) %

Earnings per share

$   1.01

$   1.05

(4) %

$   1.90

$   1.97

(4) %

Second quarter net sales of $3.9 billion, increased 7% versus the prior year, driven by Service sales with growth in all lines of business.

Second quarter GAAP operating profit of $575 million increased $28 million driven primarily by the absence of UpLift transformation costs, separation-related adjustments, and other non-recurring items in the prior year. Adjusted operating profit of $587 million decreased $25 million at actual currency and $32 million at constant currency, driven by growth in Service more than offset by a decline in New Equipment and other corporate adjustments. GAAP operating profit margin contracted 30 basis points to 14.9% and adjusted operating profit margin of 15.2% declined 180 basis points versus the prior year driven by unfavorable segment performance and other corporate adjustments, partially offset by segment mix. The performance was impacted by ongoing investment in key Service growth initiatives, which were expanded this year to capitalize on strong repair and modernization demand, enhance Service excellence, and build long-term pricing capabilities.

GAAP EPS of $1.12 increased 13% compared to the prior year primarily driven by the absence of UpLift transformation costs, separation-related adjustments, and other non-recurring items in the prior year. Adjusted EPS of $1.01 decreased 4% driven by operational performance, higher interest, and higher tax rate, partially offset by favorable foreign exchange rates, a lower share count, and lower noncontrolling interest.

Service

Quarter Ended June 30,

Six Months Ended June 30,

(dollars in millions)

2026

2025

Y/Y

Y/Y
(CFX)

2026

2025

Y/Y

Y/Y
(CFX)

Net sales

$ 2,580

$ 2,319

11 %

10 %

$ 4,997

$ 4,506

11 %

8 %

Organic sales

9 %

7 %

Segment operating profit

$   599

$   578

$     21

$     16

$ 1,155

$ 1,115

$     40

$      6

Segment operating profit margin

23.2 %

24.9 %

(170) bps

23.1 %

24.7 %

(160) bps

In the second quarter, net sales of $2.6 billion increased 11%, with a 9% increase in organic sales. Organic maintenance and repair sales increased 6% and organic modernization sales increased 24%.

Segment operating profit of $599 million increased $21 million at actual currency and increased $16 million at constant currency as higher volume and favorable pricing more than offset higher labor cost including the impact of ongoing strategic initiatives and productivity, material cost headwinds and unfavorable mix. Segment operating profit margin contracted 170 basis points to 23.2%.

New Equipment

Quarter Ended June 30,

Six Months Ended June 30,

(dollars in millions)

2026

2025

Y/Y

Y/Y
(CFX)

2026

2025

Y/Y

Y/Y
(CFX)

Net sales

$ 1,279

$ 1,276

0 %

(1) %

$ 2,428

$ 2,439

(0) %

(3) %

Organic sales

(1) %

(3) %

Segment operating profit

$     40

$     68

$   (28)

$   (30)

$     78

$   134

$   (56)

$   (57)

Segment operating profit margin

3.1 %

5.3 %

(220) bps

3.2 %

5.5 %

(230) bps

In the second quarter, net sales of $1.3 billion were flat versus the prior year, with approximately 10% organic sales growth in the Americas, and low single digit growth in Asia Pacific, offset by a high teens decline in China, and a mid-single digit decline in EMEA.

Segment operating profit of $40 million decreased $28 million at actual currency and $30 million at constant currency primarily from the impacts of lower volume, unfavorable price, and mix. Segment operating profit margin contracted 220 basis points to 3.1%.

New Equipment orders were down 5% at constant currency with low teens growth in the Americas, and a low single digit growth in EMEA, more than offset by a greater than 20% decline in Asia Pacific, and a high teens decline in China. New Equipment backlog increased 3% at actual currency and 4% at constant currency.

Cash flow

Quarter Ended June 30,

Six Months Ended June 30,

(dollars in millions)

2026

2025

Y/Y

2026

2025

Y/Y

Cash flow from operations

$        267

$        215

$        52

$        680

$        405

$       275

Free cash flow

$        223

$        179

$        44

$        603

$        335

$       268

Adjusted free cash flow

$        290

$        243

$        47

$        562

$        429

$       133

Second quarter cash flow changes were driven by an increase in net income and changes in working capital.

2026 Outlook1

Otis is revising our full year outlook:

Net sales of $15.1 to $15.3 billion Organic sales up low to mid-single digits Organic New Equipment sales down low single digits to flat Organic Service sales up mid to high single digits Adjusted operating profit of approximately $2.4 billion, down $45 to $15 million at constant currency; down $30 million to flat at actual currency Adjusted EPS of $4.01 to $4.05 Adjusted free cash flow of $1.50 to 1.55 billion 1 Note: When we provide outlook for organic sales, adjusted operating profit, adjusted EPS, adjusted effective tax rate and adjusted free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort. See "Use and Definitions of Non-GAAP Financial Measures" below for additional information.

About Otis
Otis is the world's leading elevator and escalator manufacturing, installation, service and modernization company. We move 2.5 billion people a day and maintain approximately 2.5 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 45,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. For more information, visit www.otis.com and follow us on LinkedIn, YouTube, Instagram and Facebook @OtisElevatorCo.

Use and Definitions of Non-GAAP Financial Measures

Otis Worldwide Corporation ("Otis") reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information, but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures (referenced in this press release) to the corresponding amounts prepared in accordance with GAAP appears in the attached tables. These tables provide additional information as to the items and amounts that have been excluded from the adjusted measures. Below are our non-GAAP financial measures:

Non-GAAP measure

Definition

Organic sales

Represents consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and other significant items of a non-recurring and/or nonoperational nature ("other significant items"). Management believes organic sales is a useful measure in providing period-to-period comparisons of the results of the Company's ongoing operational performance.

Adjusted selling, general and administrative ("SG&A") expense

Represents SG&A expense (a GAAP measure), excluding restructuring costs and other significant items.

Adjusted operating profit

Represents income from continuing operations (a GAAP measure), excluding restructuring costs and other significant items.

Adjusted net interest expense

Represents net interest expense (a GAAP measure), adjusted for the impacts of non-recurring acquisition related financing costs and related net interest expense pending the completion of a transaction and other significant items.

Adjusted noncontrolling interest in earnings

Represents noncontrolling interest in earnings (a GAAP measure), excluding restructuring costs and other significant items, including related tax effects.

Adjusted net income

Represents net income attributable to Otis Worldwide Corporation (a GAAP measure), excluding restructuring costs and other significant items, including related tax effects.

Adjusted earnings per share ("EPS")

Represents diluted earnings per share attributable to common shareholders (a GAAP measure), adjusted for the per share impact of restructuring and other significant items, including related tax effects.

Adjusted effective tax rate

Represents the effective tax rate (a GAAP measure) adjusted for other significant items and the tax impact of restructuring costs and other significant items.

Constant currency

GAAP financial results include the impact of changes in foreign currency exchange rates ("AFX"). We use the non-GAAP measure "at constant currency" or "CFX" to show changes in our financial results without giving effect to period-to-period currency fluctuations. Under U.S. GAAP, income statement results are translated in U.S. dollars at the average exchange rate for the period presented. Management believes that this non-GAAP measure is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.

Free cash flow

Represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing Otis' ability to fund its activities, including the financing of acquisitions, debt service, repurchases of common stock and distribution of earnings to shareholders. Free cash flow should not be considered an alternative to, or more meaningful than, net cash flows provided by operating activities, or any other measure of liquidity presented in accordance with GAAP.

Adjusted free cash flow

Represents cash flow from operations (a GAAP measure) less capital expenditures, adjusted to exclude certain items management believes affect the comparability of operating results. Management believes adjusted free cash flow is a useful measure of liquidity that provides investors additional information regarding the Company's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of common stock and distribution of earnings to shareholders. Adjusted free cash flow should not be considered an alternative to, or more meaningful than, net cash flows provided by operating activities, or any other measure of liquidity presented in accordance with GAAP.

Management believes that organic sales, adjusted SG&A expense, adjusted operating profit, adjusted net interest expense, adjusted noncontrolling interest in earnings, adjusted net income, adjusted EPS and the adjusted effective tax rate are useful measures in providing period-to-period comparisons of the results of the Company's ongoing operational performance.

When we provide our expectations for adjusted net sales, organic sales, adjusted operating profit, adjusted net interest expense, adjusted noncontrolling interest in earnings, adjusted net income, adjusted effective tax rate, adjusted EPS, free cash flow and adjusted free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected diluted EPS from continuing operations, operating profit, the effective tax rate, net sales and expected cash flow from operations) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

Cautionary Statement

This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for Otis' future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "medium-term," "near-term," "confident," "goals" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, dividends, share repurchases, tax rates, research & development spend, restructuring or transformation actions (including UpLift and related reorganization and outsourcing activities and such actions with respect to our business in China), credit ratings, net indebtedness and other measures of financial performance or potential future plans, strategies or transactions, or statements that relate to climate change and our intent to achieve certain sustainability targets or other corporate responsibility initiatives, including operational impacts and costs associated therewith, and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, Otis claims the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which Otis and its businesses operate and any changes therein, including financial market conditions, fluctuations in commodity prices and other inflationary pressures, interest rates and foreign currency exchange rates, levels of end market demand in construction, pandemic health issues, natural disasters, whether as a result of climate change or otherwise, and the financial condition of Otis' customers and suppliers; (2) the effect of changes in political conditions in the U.S. and in other countries in which Otis and its businesses operate, including tensions between the U.S. and China and geopolitical conflicts, including the ongoing conflicts and instability in the Middle East and the conflict between Russia and Ukraine on general market conditions, commodity costs, global trade policies and related sanctions, export controls and tariffs, and currency exchange rates in the near term and beyond; (3) challenges in the development, production, delivery, support, employee adoption, performance and realization of the anticipated benefits of advanced technologies and new products and services; (4) future levels of indebtedness, capital spending and research and development spending; (5) future availability of credit and factors that may affect such availability or costs thereof, including credit market conditions and Otis' capital structure; (6) the timing and scope of future repurchases of Otis' common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash; (7) fluctuations in prices and delays and disruptions in delivery of materials and services from suppliers, whether as a result of changes in general economic conditions, geopolitical conflicts or otherwise; (8) cost reduction or containment actions, restructuring or transformation costs and related savings and other consequences thereof, including with respect to UpLift and our China business and related impacts of reorganization, change management and outsourcing activities, as applicable; (9) new business and investment opportunities and the realization of anticipated benefits, including meeting customer expectations and maintaining our competitiveness; (10) the outcome of legal proceedings, investigations and other contingencies; (11) pension plan assumptions and future contributions; (12) the impact of the negotiation of collective bargaining agreements and labor disputes, labor actions, including strikes or work stoppages, and labor inflation in the markets in which Otis and its businesses operate globally; (13) the effect of changes in laws, regulations and enforcement priorities in the U.S. and other countries in which Otis and its businesses operate; (14) the ability of Otis to retain and hire key personnel; (15) the scope, nature, impact or timing of acquisition and divestiture activity, the integration of acquired businesses into existing businesses and realization of synergies and opportunities for growth and innovation and incurrence of related costs; (16) the determination by the Internal Revenue Service (the "IRS") and other tax authorities that the distribution or certain related transactions should be treated as taxable transactions in connection with the separation (the "Separation") of Otis and Carrier Global Corporation ("Carrier") from United Technologies Corporation (now known as RTX Corporation ("RTX"); and (17) our obligations and disputes that have or may hereafter arise under the agreements we entered into with RTX and Carrier in connection with the Separation. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary from those stated in forward-looking statements, see Otis' registration statement on Form 10 and the reports of Otis on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Otis assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Otis Worldwide Corporation
Condensed Consolidated Statements of Operations

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions, except per share amounts; shares in millions)

2026

2025

2026

2025

Net Sales

$        3,859

$        3,595

$       7,425

$       6,945

Costs and Expenses:

Cost of products and services sold

2,723

2,506

5,207

4,855

Research and development

39

38

77

75

Selling, general and administrative

520

499

1,030

963

Total Costs and Expenses

3,282

3,043

6,314

5,893

Other income (expense), net

(2)

(5)

3

(94)

Operating profit

575

547

1,114

958

Non-service pension cost (benefit)

2

—

2

—

Interest expense (income), net

26

26

85

71

Net income before income taxes

547

521

1,027

887

Income tax expense (benefit)

98

98

225

208

Net income

449

423

802

679

Less: Noncontrolling interest in subsidiaries' earnings

21

30

34

43

Net income attributable to Otis Worldwide Corporation

$          428

$          393

$         768

$         636

Earnings Per Share of Common Stock:

Basic

$         1.12

$         1.00

$        1.99

$        1.61

Diluted

$         1.12

$         0.99

$        1.99

$        1.60

Weighted Average Number of Shares Outstanding:

Basic shares

382.6

393.7

385.2

395.1

Diluted Shares

383.5

395.8

386.4

397.3

Otis Worldwide Corporation
Reconciliation of Reported (GAAP) to Adjusted Operating Profit & Operating Profit Margin

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions)

2026

2025

2026

2025

Net Sales

New Equipment

$     1,279

$     1,276

$     2,428

$     2,439

Service

2,580

2,319

4,997

4,506

Total Net Sales

$     3,859

$     3,595

$     7,425

$     6,945

Operating Profit

New Equipment

$         40

$         68

$         78

$       134

Service

599

578

1,155

1,115

Total segment operating profit

639

646

1,233

1,249

Corporate and Unallocated

(64)

(99)

(119)

(291)

Total Otis GAAP Operating Profit

575

547

1,114

958

UpLift restructuring

—

25

—

45

Other restructuring

11

12

18

35

UpLift transformation costs

—

18

—

41

Separation-related adjustments 1

—

9

5

61

Litigation-related settlement costs 2

—

—

—

21

Held for sale impairment

—

—

—

10

Other, net

1

1

—

1

Total Otis Adjusted Operating Profit

$       587

$       612

$     1,137

$     1,172

Reported Total Operating Profit Margin

14.9 %

15.2 %

15.0 %

13.8 %

Adjusted Total Operating Profit Margin

15.2 %

17.0 %

15.3 %

16.9 %

1 Separation-related adjustments in the quarters and six months ended June 30, 2026 and 2025 represent estimated amounts
due to RTX Corporation (our former parent) in accordance with the Tax Matters Agreement, including those amounts related
to a favorable ruling received in August 2024 regarding a tax litigation in Germany.

2 Litigation-related settlement costs in the six months ended June 30, 2025 represent the aggregate amount of settlement costs
and increase in loss contingency accruals, excluding legal costs, for certain legal matters that are outside of the ordinary
course of business due to the size, complexity and/or unique facts of these matters.

Otis Worldwide Corporation
Reconciliation of Reported (GAAP) to Adjusted (Non-GAAP) Net Income, Earnings Per Share, and Effective Tax Rate

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions, except per share amounts)

2026

2025

2026

2025

Adjusted Operating Profit

$       587

$       612

$     1,137

$     1,172

Non-service pension cost (benefit)

2

—

2

—

Adjusted net interest expense 1, 2

68

57

127

103

Adjusted income from operations before income taxes

517

555

1,008

1,069

Income tax expense (benefit)

98

98

225

208

Tax impact on restructuring and non-recurring items

—

11

4

32

Non-recurring tax items 2

20

12

20

12

Adjusted net income from operations

399

434

759

817

Adjusted noncontrolling interest 2, 3

10

18

23

33

Adjusted net income attributable to common
shareholders

$       389

$       416

$       736

$       784

GAAP net income attributable to common shareholders

$       428

$       393

$       768

$       636

UpLift restructuring

—

25

—

45

Other restructuring

11

12

18

35

UpLift transformation costs

—

18

—

41

Separation-related adjustments

—

9

5

61

Litigation-related settlement costs

—

—

—

21

Held for sale impairment

—

—

—

10

Interest income related to non-recurring tax items 1, 2

(31)

(15)

(31)

(16)

Tax effects of restructuring, non-recurring items and other
adjustments

—

(11)

(4)

(32)

Non-recurring tax items 2

(20)

(12)

(20)

(12)

Other, net 3

1

(3)

—

(5)

Adjusted net income attributable to common
shareholders

$       389

$       416

$       736

$       784

Diluted Earnings Per Share

$      1.12

$      0.99

$      1.99

$      1.60

Impact to diluted earnings per share

(0.11)

0.06

(0.09)

0.37

Adjusted Diluted Earnings Per Share

$      1.01

$      1.05

$      1.90

$      1.97

Effective Tax Rate

17.9 %

18.8 %

21.9 %

23.4 %

Impact of adjustments on effective tax rate

4.9 %

3.0 %

2.8 %

0.2 %

Adjusted Effective Tax Rate

22.8 %

21.8 %

24.7 %

23.6 %

1 In August 2024, we received a favorable ruling regarding a tax litigation in Germany. As a result, income tax benefits and
related interest income were recorded in 2024. Net interest expense is reflected as adjusted without $7 million of interest
income for the quarter and six months ended June 30, 2026, compared to $1 million and $2 million for the same periods in
2025.

2 Certain tax reserves were adjusted in the second quarter of 2026 and 2025. As a result, Net interest expense and
Noncontrolling interest are reflected as adjusted without $35 million of interest income and $11 million of the noncontrolling
interest share of the reserves adjustments, respectively, for the quarter and six months ended June 30, 2026, compared to
$30 million and $16 million, respectively, for the same periods in 2025.

3 Noncontrolling interest is reflected as adjusted without $4 million and $6 million of the noncontrolling interest share of
Other restructuring for the quarter and six months ended June 30, 2025.

Otis Worldwide Corporation
Components of Changes in Net Sales

Quarter Ended June 30, 2026 Compared with Quarter Ended June 30, 2025

Factors Contributing to Total % Change in Net Sales

Organic

FX

Translation

Acquisitions /

Divestitures,
net and Other

Total

New Equipment

(1) %

1 %

— %

— %

Service

9 %

1 %

1 %

11 %

Maintenance and Repair

6 %

1 %

1 %

8 %

Modernization

24 %

— %

2 %

26 %

Total Net Sales

6 %

1 %

— %

7 %

Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025

Factors Contributing to Total % Change in Net Sales

Organic

FX

Translation

Acquisitions /

Divestitures,
net and Other

Total

New Equipment

(3) %

3 %

— %

— %

Service

7 %

3 %

1 %

11 %

Maintenance and Repair

5 %

3 %

1 %

9 %

Modernization

16 %

2 %

— %

18 %

Total Net Sales

4 %

3 %

— %

7 %

Components of Changes in New Equipment Backlog

June 30, 2026

Y/Y Growth %

New Equipment Backlog increase at actual currency

3 %

Foreign exchange impact to New Equipment Backlog

1 %

New Equipment Backlog increase at constant currency

4 %

Components of Changes in Modernization Backlog

June 30, 2026

Y/Y Growth %

Modernization Backlog increase at actual currency

24 %

Foreign exchange impact to Modernization Backlog

2 %

Modernization Backlog increase at constant currency

26 %

Otis Worldwide Corporation
Reconciliation of Segment and Total Adjusted Operating Profit at Constant Currency

Quarter Ended June 30, 2026 Compared with Quarter Ended June 30, 2025

(dollars in millions)

2026

2025

Y/Y

New Equipment

Segment Operating Profit

$               40

$               68

$             (28)

Impact of foreign exchange

(2)

—

(2)

Segment Operating Profit at constant currency

$               38

$               68

$             (30)

Service

Segment Operating Profit

$             599

$             578

$               21

Impact of foreign exchange

(5)

—

(5)

Segment Operating Profit at constant currency

$             594

$             578

$               16

Otis Consolidated

Adjusted Operating Profit

$             587

$             612

$             (25)

Impact of foreign exchange

(7)

—

(7)

Adjusted Operating Profit at constant currency

$             580

$             612

$             (32)

Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025

(dollars in millions)

2026

2025

Y/Y

New Equipment

Segment Operating Profit

$               78

$             134

$             (56)

Impact of foreign exchange

(1)

—

(1)

Segment Operating Profit at constant currency

$               77

$             134

$             (57)

Service

Segment Operating Profit

$           1,155

$           1,115

$               40

Impact of foreign exchange

(34)

—

(34)

Segment Operating Profit at constant currency

$           1,121

$           1,115

$                6

Otis Consolidated

Adjusted Operating Profit

$           1,137

$           1,172

$             (35)

Impact of foreign exchange

(35)

—

(35)

Adjusted Operating Profit at constant currency

$           1,102

$           1,172

$             (70)

Otis Worldwide Corporation
Condensed Consolidated Balance Sheet

June 30, 2026

December 31, 2025

(dollars in millions)

(Unaudited)

Assets

Cash and cash equivalents

$                  813

$                1,096

Accounts receivable, net

3,985

3,688

Contract assets

824

699

Inventories

686

613

Other current assets

531

405

Total Current Assets

6,839

6,501

Future income tax benefits

426

407

Fixed assets, net

755

743

Operating lease right-of-use assets

580

554

Intangible assets, net

387

343

Goodwill

1,794

1,695

Other assets

375

410

Total Assets

$              11,156

$              10,653

Liabilities and Equity (Deficit)

Short-term borrowings and current portion of long-term debt

$               1,390

$               1,056

Accounts payable

2,099

2,142

Accrued liabilities

1,713

1,847

Contract liabilities

3,023

2,611

Total Current Liabilities

8,225

7,656

Long-term debt

7,046

6,900

Future pension and postretirement benefit obligations

411

419

Operating lease liabilities

410

397

Future income tax obligations

196

223

Other long-term liabilities

322

329

Total Liabilities

16,610

15,924

Redeemable noncontrolling interest

106

75

Shareholders' Equity (Deficit):

Common Stock and additional paid-in capital

353

333

Treasury Stock

(5,005)

(4,198)

Accumulated deficit

(117)

(440)

Accumulated other comprehensive income (loss)

(979)

(1,087)

Total Shareholders' Equity (Deficit)

(5,748)

(5,392)

Noncontrolling interest

188

46

Total Equity (Deficit)

(5,560)

(5,346)

Total Liabilities and Equity (Deficit)

$              11,156

$              10,653

Otis Worldwide Corporation
Condensed Consolidated Statement of Cash Flows

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions)

2026

2025

2026

2025

Operating Activities:

Net income from operations

$     449

$     423

$     802

$     679

Adjustments to reconcile net income to net cash flows provided by
operating activities:

Depreciation and amortization

42

44

83

86

Deferred income tax expense (benefit)

(42)

(74)

(38)

(74)

Stock compensation cost

20

23

39

44

Change in operating assets and liabilities, net of acquisitions:

Accounts receivable, net

(71)

(42)

(300)

(146)

Contract assets and liabilities, current

(148)

(190)

284

70

Inventories

(21)

3

(79)

(15)

Other current assets

(70)

12

67

10

Accounts payable

128

69

(48)

(212)

Accrued liabilities

49

11

(68)

23

Pension contributions

(10)

(9)

(21)

(27)

Other operating activities, net

(59)

(55)

(41)

(33)

Net cash flows provided by (used in) operating activities

267

215

680

405

Investing Activities:

Capital expenditures

(44)

(36)

(77)

(70)

Acquisitions of businesses and intangible assets, net of cash

(190)

(46)

(193)

(82)

Other investing activities, net

(97)

(77)

(46)

(168)

Net cash flows provided by (used in) investing activities

(331)

(159)

(316)

(320)

Financing Activities:

Increase (decrease) in short-term borrowings, net

(62)

484

(33)

473

Issuance of long-term debt, net

700

—

700

—

Payment of debt issuance costs

(5)

—

(5)

—

Repayment of long-term debt

—

(1,300)

(135)

(1,300)

Dividends paid on Common Stock

(167)

(164)

(330)

(319)

Repurchases of Common Stock

(407)

(308)

(807)

(561)

Acquisition of noncontrolling interest shares

—

—

(10)

—

Dividends paid to noncontrolling interest

(4)

(3)

(7)

(5)

Other financing activities, net

18

(3)

6

(10)

Net cash flows provided by (used in) financing activities

73

(1,294)

(621)

(1,722)

Summary of Activity:

Net cash provided by (used in) operating activities

267

215

680

405

Net cash provided by (used in) investing activities

(331)

(159)

(316)

(320)

Net cash provided by (used in) financing activities

73

(1,294)

(621)

(1,722)

Effect of exchange rate changes on cash and cash equivalents

(4)

12

1

19

Net increase (decrease) in cash, cash equivalents and restricted cash

5

(1,226)

(256)

(1,618)

Cash, cash equivalents and restricted cash, beginning of period

844

1,929

1,105

2,321

Cash, cash equivalents and restricted cash, end of period

849

703

849

703

Less: Restricted cash

36

15

36

15

Cash and cash equivalents, end of period

$     813

$     688

$     813

$     688

Otis Worldwide Corporation
Adjusted Free Cash Flow Reconciliation

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions)

2026

2025

2026

2025

Net cash flows provided by operating activities (GAAP)

$       267

$       215

$       680

$       405

Capital expenditures

(44)

(36)

(77)

(70)

Free cash flow (Non-GAAP)

223

179

603

335

Adjustments for:

UpLift restructuring payments

6

8

14

19

UpLift transformation payments

7

14

11

33

Separation-related payments 1

57

72

63

72

German Tax Litigation refunds 2

(3)

(30)

(129)

(30)

Adjusted free cash flow (Non-GAAP)

$       290

$       243

$       562

$       429

1 These represent payments to RTX Corporation (our former parent) in accordance with the Tax Matters Agreement.

2 In August 2024, we received a favorable ruling regarding a tax litigation in Germany. The Company began receiving
refunds during 2025 and anticipates the refund process to continue through 2026.

Media Contact:
Katy Padgett
+1-860-674-3047
[email protected]

Investor Relations Contact:
Imelda Suit
+1-860-676-6011
[email protected]

SOURCE Otis Worldwide Corporation

Posted by Defense World Staff on Jul 22nd, 2026

D.A. Davidson & CO. raised its stake in Helios Technologies, Inc (NYSE:HLIO – Free Report) by 26.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,980 shares of the company’s stock after buying an additional 6,493 shares during the period. D.A. Davidson & CO. owned approximately 0.09% of Helios Technologies worth $2,005,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of HLIO. Triumph Capital Management acquired a new position in shares of Helios Technologies in the 3rd quarter worth $36,000. Quarry LP raised its position in shares of Helios Technologies by 948.6% during the third quarter. Quarry LP now owns 1,164 shares of the company’s stock worth $61,000 after purchasing an additional 1,053 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Helios Technologies during the fourth quarter valued at $66,000. Kemnay Advisory Services Inc. acquired a new position in shares of Helios Technologies in the 4th quarter valued at $104,000. Finally, Osaic Holdings Inc. boosted its position in shares of Helios Technologies by 14.1% in the 4th quarter. Osaic Holdings Inc. now owns 2,942 shares of the company’s stock valued at $158,000 after purchasing an additional 363 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

Helios Technologies Trading Up 1.0% Shares of NYSE HLIO opened at $81.91 on Wednesday. Helios Technologies, Inc has a one year low of $34.95 and a one year high of $95.05. The firm has a market capitalization of $2.71 billion, a PE ratio of 45.00 and a beta of 1.25. The company has a current ratio of 2.86, a quick ratio of 1.58 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $83.05 and a two-hundred day moving average price of $72.94.

Helios Technologies (NYSE:HLIO – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Helios Technologies had a net margin of 6.98% and a return on equity of 10.49%. The business had revenue of $228.40 million during the quarter. During the same period last year, the company earned $0.44 earnings per share. Helios Technologies’s revenue for the quarter was up 16.8% compared to the same quarter last year. Helios Technologies has set its Q2 2026 guidance at 0.780-0.830 EPS and its FY 2026 guidance at 2.750-3.000 EPS. As a group, analysts predict that Helios Technologies, Inc will post 2.9 earnings per share for the current fiscal year.

Helios Technologies Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. Helios Technologies’s dividend payout ratio (DPR) is 26.37%.

Insider Activity at Helios Technologies In other news, insider Matteo Arduini sold 6,027 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $90.42, for a total transaction of $544,961.34. Following the transaction, the insider directly owned 11,317 shares in the company, valued at $1,023,283.14. The trade was a 34.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 13,027 shares of company stock worth $1,134,121. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes Several analysts have issued reports on the company. Stifel Nicolaus boosted their price objective on Helios Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird raised their target price on shares of Helios Technologies from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on shares of Helios Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. KeyCorp boosted their price target on shares of Helios Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Zacks Research upgraded shares of Helios Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $93.25.

View Our Latest Stock Report on Helios Technologies

About Helios Technologies (Free Report)

Helios Technologies, Inc develops and manufactures engineered motion control and electronic control products for a wide range of industrial and mobile equipment applications. The company’s Hydraulics segment designs and produces hydraulic cartridge valves, manifold systems, pumps and motors, filtration solutions and off-highway joysticks. Its Electronic Controls segment offers programmable electronic control units, wireless telematics, human-machine interfaces and software to optimize performance, efficiency and safety for equipment OEMs and end users.

Through its global network of manufacturing facilities, service centers and technology centers, Helios Technologies serves markets in agriculture, construction, material handling, mining, municipal and recreational vehicles, as well as industrial automation and infrastructure equipment.

Featured Stories Five stocks we like better than Helios Technologies Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding HLIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helios Technologies, Inc (NYSE:HLIO – Free Report).

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Posted by Defense World Staff on Jul 22nd, 2026

Fifth Third Bancorp boosted its holdings in Bruker Corporation (NASDAQ:BRKR – Free Report) by 4,058.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,135 shares of the medical research company’s stock after purchasing an additional 55,761 shares during the quarter. Fifth Third Bancorp’s holdings in Bruker were worth $2,064,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new position in Bruker in the second quarter valued at $192,735,000. Price T Rowe Associates Inc. MD increased its position in Bruker by 2,963.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,366,520 shares of the medical research company’s stock valued at $111,488,000 after acquiring an additional 2,289,269 shares during the period. AQR Capital Management LLC raised its stake in Bruker by 125.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,326,820 shares of the medical research company’s stock valued at $137,065,000 after acquiring an additional 1,850,215 shares during the last quarter. Franklin Resources Inc. lifted its position in Bruker by 317.7% during the 4th quarter. Franklin Resources Inc. now owns 2,309,404 shares of the medical research company’s stock worth $108,796,000 after acquiring an additional 1,756,460 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Bruker by 222.6% in the 4th quarter. Millennium Management LLC now owns 1,839,587 shares of the medical research company’s stock valued at $86,663,000 after purchasing an additional 1,269,316 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.

Bruker Price Performance Shares of NASDAQ BRKR opened at $60.43 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 1.55. Bruker Corporation has a one year low of $28.53 and a one year high of $64.54. The firm has a market capitalization of $9.20 billion, a P/E ratio of -251.79, a PEG ratio of 1.80 and a beta of 1.29. The company’s fifty day moving average is $55.29 and its two-hundred day moving average is $46.03.

Bruker (NASDAQ:BRKR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The medical research company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Bruker had a negative net margin of 0.65% and a positive return on equity of 11.60%. The firm had revenue of $823.40 million during the quarter, compared to analysts’ expectations of $795.62 million. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Bruker has set its FY 2026 guidance at 2.100-2.150 EPS. Analysts forecast that Bruker Corporation will post 2.12 EPS for the current fiscal year.

Bruker Announces Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $0.05 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Bruker’s dividend payout ratio is currently -83.33%.

Analyst Upgrades and Downgrades A number of equities analysts recently weighed in on BRKR shares. JPMorgan Chase & Co. lifted their price objective on shares of Bruker from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Barclays lifted their target price on shares of Bruker from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Bruker from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Leerink Partners increased their price target on shares of Bruker from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, TD Cowen restated a “hold” rating on shares of Bruker in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.79.

View Our Latest Stock Report on BRKR

Bruker Profile (Free Report)

Bruker Corporation, founded in 1960 by physicist Günther Laukien and headquartered in Billerica, Massachusetts, is a leading developer and manufacturer of high-performance scientific instruments and analytical solutions. The company designs systems that enable molecular and materials research across academic, governmental, and industrial laboratories.

Bruker’s product portfolio encompasses nuclear magnetic resonance (NMR) spectrometers for molecular structure and dynamics studies, mass spectrometry platforms for proteomics and metabolomics, X-ray diffraction and scattering instruments for crystallography and materials characterization, atomic force and scanning probe microscopes for nanoscale surface analysis, as well as preclinical imaging systems such as micro-CT and MRI scanners.

In addition to hardware, Bruker provides software suites, applications support, training services, and long-term maintenance agreements to ensure optimal instrument performance.

See Also Five stocks we like better than Bruker Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible

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California Public Employees Retirement System cut its stake in Sun Communities, Inc. (NYSE:SUI – Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,182 shares of the real estate investment trust’s stock after selling 24,801 shares during the period. California Public Employees Retirement System owned 0.21% of Sun Communities worth $32,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sun Communities during the fourth quarter worth $753,364,000. Wellington Management Group LLP boosted its holdings in Sun Communities by 1,224.1% in the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sun Communities by 37,933.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock worth $182,663,000 after purchasing an additional 1,470,286 shares during the period. M&T Bank Corp increased its position in Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after purchasing an additional 495,902 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in Sun Communities by 152.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust’s stock worth $95,063,000 after purchasing an additional 463,312 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets A number of research analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Weiss Ratings downgraded shares of Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a report on Thursday, May 14th. Wells Fargo & Company dropped their target price on shares of Sun Communities from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Mizuho cut their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.05.

Get Our Latest Stock Report on Sun Communities

Sun Communities Stock Down 1.0% Shares of NYSE SUI opened at $119.04 on Wednesday. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market cap of $14.67 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.97 and a beta of 0.79. The firm has a 50 day moving average price of $122.13 and a 200 day moving average price of $126.48.

Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The business had revenue of $500.50 million for the quarter, compared to analyst estimates of $472.40 million. During the same period in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Analysts expect that Sun Communities, Inc. will post 6.9 EPS for the current year.

Sun Communities Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s payout ratio is 40.69%.

Insider Activity at Sun Communities In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. This represents a 70.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is currently owned by insiders.

About Sun Communities (Free Report)

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

Featured Articles Five stocks we like better than Sun Communities Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible

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A previously dormant whale on the Hyperliquid network has crossed a significant threshold, pushing its total staked holdings above one million $HYPE tokens after depositing an additional 387,800 tokens, according to on-chain data tracked by Onchain Lens.

A Stake Worth Tens of Millions The latest deposit is valued at roughly $23.4 million and follows an earlier stake of 619,120 HYPE made in November 2025. Combined, the whale's lifetime staked position is now worth approximately $61.2 million.

The move comes as $HYPE trades in a range that reflects broader strength in the Hyperliquid ecosystem. The platform crossed $1 billion in cumulative protocol revenue on June 30, according to DeFiLlama. The platform routes about 99% of trading fees into open-market HYPE purchases through its Assistance Fund.

Why Staking HYPE Matters Hyperliquid runs on delegated proof-of-stake (dPoS), where holders delegate their tokens to a validator, and an active set of validators uses that stake to produce and confirm blocks via HyperBFT consensus. In exchange for helping secure the chain, stakers earn rewards. The current staking yield is around 2.2 to 2.4% APY, paid in HYPE and auto-compounding.

Beyond yield, locking tokens into staking removes supply from active circulation. Ongoing buyback programs and staking mechanisms that remove tokens from active circulation create favorable supply-demand dynamics. This is part of what has attracted sustained whale interest in the token.

The platform now commands roughly 70% of all on-chain perpetual futures volume across every blockchain, processing over $10.5 billion in daily trading activity at throughput levels that rival traditional centralized exchanges.

The whale's decision to lock up over one million tokens at current prices signals a long-term conviction bet on the protocol, at a time when on-chain activity and institutional attention around $HYPE continue to build.

Sources:
BeInCrypto: Hyperliquid Whales Show Conflicting Moves as HYPE Hits Fresh Peak
CryptoRank: Hyperliquid Price Outlook for July 2026
Coinbase: Hyperliquid (HYPE) Price and Market Data

Posted by Defense World Staff on Jul 22nd, 2026

Bank of New York Mellon Corp boosted its stake in Wingstop Inc. (NASDAQ:WING – Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 488,213 shares of the restaurant operator’s stock after purchasing an additional 49,300 shares during the period. Bank of New York Mellon Corp owned about 1.79% of Wingstop worth $75,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 81 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after buying an additional 119 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in Wingstop during the 4th quarter valued at about $63,000.

Wingstop Price Performance Shares of NASDAQ WING opened at $134.95 on Wednesday. The firm has a fifty day moving average price of $150.95 and a 200-day moving average price of $194.79. The stock has a market cap of $3.67 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.79. Wingstop Inc. has a 1 year low of $116.35 and a 1 year high of $381.45.

Wingstop (NASDAQ:WING – Get Free Report) last released its earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company had revenue of $183.72 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter in the previous year, the company earned $0.99 EPS. Wingstop’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect that Wingstop Inc. will post 4.57 EPS for the current year.

Wingstop Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Wingstop’s dividend payout ratio (DPR) is 29.85%.

Analysts Set New Price Targets WING has been the topic of a number of research reports. Weiss Ratings downgraded shares of Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Raymond James Financial upgraded shares of Wingstop from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $325.00 to $240.00 in a research report on Thursday, April 2nd. Stephens set a $200.00 price target on shares of Wingstop in a research note on Tuesday. Guggenheim cut their price objective on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Finally, The Goldman Sachs Group lowered Wingstop from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $290.00 to $190.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.15.

Read Our Latest Research Report on WING

Wingstop Profile (Free Report)

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.

Read More Five stocks we like better than Wingstop Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding WING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wingstop Inc. (NASDAQ:WING – Free Report).

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XRP's latest rally appears to be backed by growing conviction among large holders. 

On-chain data provided by analytics firm Santiment shows that whales have steadily increased their positions while smaller retail wallets continue to exit the market.

Wallets holding between 100,000 and 100 million XRP have increased their combined holdings by 2.8% over the past five weeks. 

HOT Stories

During the same period, wallets holding less than 0.01 XRP reduced their balances by 5.2%. There is a clear divergence between institutional-scale investors and the smallest retail participants.

Essentially, large investors were buying the dip while XRP was trading in a relatively weak range between roughly $1.05 and $1.12. 

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According to CoinGecko data, XRP has climbed more than 3% over the past week, recently reclaiming the $1.16 level.

XRP has historically tended to follow the behavior of large whales instead of small retail wallets, according to Santiment. 

Bullish momentum Whale accumulation is a bullish signal, but, of course, it is not a guarantee that XRP will continue higher. Large holders can accumulate for many reasons, and macro conditions, ETF flows, and broader crypto market sentiment are still the key factors that could make or break the rally. 

Recent data shows that XRP spot ETFs recorded $5.09 million in net inflows on July 21 after $2.27 million on July 20 and $6.10 million on July 16. This came after a brief period of outflows earlier this month.

Meanwhile, as reported by U.Today, there are various notable technical developments on the XRP Ledger. Validators are expected to vote within the coming weeks on one of the network's most significant upgrade packages to date.

The proposed amendments would introduce batch transactions and confidential transfers. Additional improvements include enhancements to the ledger's Multi-Purpose Token (MPT) standard. 

PennyMac Financial Services (NYSE:PFSI – Get Free Report) will likely be posting its Q2 2026 results after the market closes on Wednesday, July 29th. Analysts expect PennyMac Financial Services to post earnings of $2.25 per share and revenue of $581.7160 million for the quarter. Parties are encouraged to explore the company’s upcoming Q2 2026 earning results page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 5:00 PM ET.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The business had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. During the same period in the previous year, the business posted $1.42 earnings per share. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. On average, analysts expect PennyMac Financial Services to post $10 EPS for the current fiscal year and $14 EPS for the next fiscal year.

PennyMac Financial Services Trading Up 0.5% NYSE PFSI opened at $84.02 on Wednesday. The company has a market cap of $4.36 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.59 and a beta of 1.44. PennyMac Financial Services has a 12 month low of $77.67 and a 12 month high of $160.36. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50-day moving average of $83.72 and a 200-day moving average of $96.21.

PennyMac Financial Services Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.75%.

Insider Buying and Selling at PennyMac Financial Services In other news, CAO Gregory L. Hendry sold 2,943 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the sale, the chief accounting officer owned 48,968 shares in the company, valued at approximately $4,001,175.28. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $87.50, for a total value of $255,937.50. Following the sale, the chief financial officer owned 210,625 shares in the company, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,045 shares of company stock valued at $1,565,470 over the last three months. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows A number of institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in PennyMac Financial Services by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock valued at $206,881,000 after purchasing an additional 106,088 shares in the last quarter. Basswood Capital Management L.L.C. lifted its holdings in PennyMac Financial Services by 5.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock worth $56,816,000 after buying an additional 31,743 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in PennyMac Financial Services by 43.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 400,788 shares of the real estate investment trust’s stock worth $39,935,000 after buying an additional 121,382 shares in the last quarter. Two Sigma Investments LP boosted its position in PennyMac Financial Services by 1,148.7% in the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock valued at $38,517,000 after buying an additional 286,019 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in PennyMac Financial Services by 145.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 286,123 shares of the real estate investment trust’s stock valued at $28,509,000 after buying an additional 169,395 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes A number of analysts have recently commented on the company. Barclays downgraded PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $107.00 to $93.00 in a report on Tuesday, July 7th. Piper Sandler lowered their price target on PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. BTIG Research cut their price objective on PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Hold” and a consensus target price of $114.62.

Read Our Latest Analysis on PennyMac Financial Services

About PennyMac Financial Services (Get Free Report)

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.

See Also Five stocks we like better than PennyMac Financial Services Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible

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BscScan, one of the main blockchain explorers used to track activity on BNB Smart Chain, has entered a scheduled maintenance window that could temporarily disrupt parts of its website and API services.

Summary

BscScan maintenance may interrupt website and API access, but BNB Chain transactions will continue processing. OKLink can track BNB Chain transactions, addresses, tokens, contracts, and other onchain activity during maintenance. Developers relying on BscScan APIs may need backup data providers or direct blockchain connections temporarily. BNB Chain announced that the maintenance would start on July 22 at 6:00 a.m. UTC and last about three to four hours. That placed the expected end of the maintenance window between 9:00 a.m. and 10:00 a.m. UTC. The network warned that some web and API services could become unavailable during the work.

Heads up!@bscscan will undergo scheduled maintenance on July 22 at 6:00 AM UTC, which is expected to last 3-4 hours. Some web and API services may be temporarily unavailable during this time.

Need to check something in the meantime? @BSC_Trace has you covered 👇…

— BNB Chain (@BNBCHAIN) July 22, 2026 The maintenance affects BscScan rather than the BNB Smart Chain network itself. BNB Chain continues to produce blocks and process transactions independently of the explorer. Users may therefore see temporary difficulty checking a transaction through BscScan even when the underlying transfer has completed normally. BscScan serves as a tool for reading blockchain data rather than processing transactions.

BSCTrace and OKLink offer direct BscScan alternatives For users who need to check transactions, wallet addresses or blocks during the BscScan maintenance, BSCTrace provides one of the closest alternatives. The explorer supports BNB Smart Chain transaction searches, address activity, tokens, contracts, validators and gas tracking. BNB Chain also lists both BscScan and BSCTrace among its developer tools.

BNB Chain has previously directed users to BSCTrace during earlier BscScan maintenance periods. Users can search a transaction hash or wallet address there without relying on the BscScan website. However, individual tools may present data differently, so users should confirm addresses carefully before taking any action based on explorer information.

OKLink provides another active BNB Chain explorer. It allows users to search transactions, addresses, tokens and other network data. The platform also offers smart contract verification tools, making it useful for developers and users who need more than basic transaction tracking.

The OKX Web3 Explorer also supports BNB Chain and provides access to blocks, transactions, addresses and token information. These services read public blockchain data independently, so a temporary BscScan service interruption does not prevent them from displaying BNB Smart Chain activity.

Traders and developers may need different backup tools Not every BscScan alternative serves the same purpose. Traders mainly interested in token prices, decentralized exchange activity and liquidity can use platforms such as DEX Screener. These tools can continue showing trading data during an explorer outage, but they do not provide a full replacement for functions such as smart contract verification or detailed transaction logs.

Developers may face a larger disruption if their applications depend directly on BscScan APIs. Services that use those APIs to fetch balances, transaction histories, token transfers or contract information could see delayed updates or temporary errors during the maintenance window.

Developers can reduce that dependency by using direct BNB Smart Chain RPC connections or separate blockchain data providers. However, moving from one API provider to another may require changes to endpoints, authentication and data formats. For production applications, having more than one data source can reduce reliance on a single explorer service.

The distinction between a blockchain and its explorer is also important for users checking pending transfers. A missing BscScan page does not mean that BNB Smart Chain has stopped. As crypto.news recently explained in its guide to blockchain mempools, transaction confirmation depends on the underlying network, while explorers provide an interface for viewing that activity.

BscScan remains separate from the BNB Chain network BscScan plays a major role in the BNB Chain ecosystem because users rely on it to verify transactions, examine wallet activity and inspect smart contracts. However, the explorer operates as a separate data service. Its maintenance does not pause decentralized applications, token transfers or block production on BNB Smart Chain.

The temporary disruption may still create inconvenience. Traders may struggle to verify transfers through their usual interface, while developers whose applications depend on BscScan APIs could experience service problems until maintenance ends. Users can turn to BSCTrace or OKLink for direct blockchain searches and use market-data platforms for trading activity.

Block explorers also carry their own security considerations. As crypto.news previously reported, Binance founder Changpeng Zhao criticized how explorers display address-poisoning transactions. The report noted that BscScan requires users to manually hide some zero-value transactions that scammers can use to place lookalike addresses in wallet histories.

Users should therefore verify complete wallet addresses regardless of which explorer they use. Switching from BscScan to another platform during maintenance changes how users view blockchain activity, but it does not change the transactions recorded on BNB Smart Chain.

BNB Chain described the July 22 interruption as scheduled maintenance lasting about three to four hours. During that period, BSCTrace and OKLink provide direct alternatives for checking core onchain data, while traders and developers can use specialized services depending on the information they need.

GMI Cloud founder and CEO Alex Yeh. GMI Cloud Earlier this year, the AI startup Fireworks AI wanted to rent hundreds of millions of dollars' worth of AI compute.

Rather than buying massive clusters of Nvidia's AI chips, known as GPUs, or renting from cloud giants like Amazon or Microsoft, some startups like Fireworks turn to specialized AI cloud providers — called neoclouds — for faster access to GPUs, more competitive pricing, and infrastructure specifically tailored to AI. Fireworks chose the neocloud GMI Cloud.

There was a catch: To serve Fireworks, GMI first needed to buy the Nvidia GPU systems from a hardware manufacturer — and banks wouldn't provide the financing because Fireworks wasn't an investment-grade company.

GMI founder and CEO Alex Yeh said they brought the problem to Nvidia and began discussing a new financing model around the beginning of this year. Yeh described it as an "insurance product" in which Nvidia agrees to step in if one of GMI's customers stops paying. In exchange, GMI shares a portion of its revenue with Nvidia.

GMI told Business Insider it is committing $500 million to expand its AI infrastructure under this new financing model and said it's among the first neoclouds in Asia to employ it.

The arrangement helps neoclouds secure loans they might not otherwise receive, while enabling Nvidia to bring more of its GPUs to market. Yeh said that rising memory prices also factor into the model's economics.

Fireworks announced this month that it had raised $1.5 billion at a $17.5 billion valuation. Still, Yeh said banks have so far viewed frontier AI startups as non-investment-grade — though he added that the market is changing quickly.

Nvidia can expand its customer baseOther neoclouds, such as Firmus and Sharon AI, are among the first to work with Nvidia under the new business model the chipmaker announced in July.

Sharon cofounder and CEO James Manning said the arrangement marks an evolution in its relationship with Nvidia from a traditional supplier to a longer-term partner.

David Nicholson, chief technology advisor at The Futurum Group, said the strategy helps Nvidia broaden its customer base beyond top cloud providers — many of which are developing their own competing AI chips.

Brad Gastwirth, global head of research and market intelligence at Circular Technology, called the model smart, though he said it could be a "yellow flag" for investors, with the key question being how selectively Nvidia chooses which neoclouds to support to limit its financial risk.

Nvidia has previously been criticized for 'circular financing'The arrangement echoes Nvidia's intertwined relationships with companies like CoreWeave and OpenAI, in which it is both an investor and a supplier.

Arman Aleksanian, cofounder and CEO of the neocloud Eleveight AI — which is not in Nvidia's new financing program but is monitoring it — said critiques about "circular financing" were fair to consider, but only if the financing supports GPU purchases that aren't backed by actual demand.

"What I'd say is that circular financing is only dangerous when it manufactures demand that isn't actually there," he said. "If the capacity runs hot with real paying customers, then the financing did its job."

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Geoff Weiss is a senior reporter on Business Insider’s tech team, where he writes about AI startups and Y Combinator, the intersection of AI and the media industry, and workplace dynamics within top AI labs and chip companies.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at [email protected], on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely.Selected stories:Nvidia crushed its quarter — and CEO Jensen Huang said in a leaked all-hands that 'the market did not appreciate it'Nvidia will foot the bill for Trump's new visa fees. Here's what CEO Jensen Huang told staff.Massive AI salaries and RTO are fueling a real estate boom in San Francisco: 'It's going to rain money'The AI talent wars are ricocheting across startups. Here's how they're competing with Big Tech.

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Posted by Defense World Staff on Jul 22nd, 2026

Acumen Wealth Advisors LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3,252.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,242 shares of the Internet television network’s stock after acquiring an additional 24,489 shares during the period. Acumen Wealth Advisors LLC’s holdings in Netflix were worth $2,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC lifted its stake in Netflix by 21.2% in the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock valued at $1,883,000 after buying an additional 246 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in Netflix by 18.9% in the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock valued at $1,036,000 after buying an additional 123 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Netflix by 12.1% in the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after buying an additional 228 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In A number of brokerages recently commented on NFLX. Stephens started coverage on shares of Netflix in a report on Friday. They set an “overweight” rating on the stock. Pivotal Research lowered their target price on Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a report on Friday, July 17th. BMO Capital Markets downgraded Netflix from an “outperform” rating to a “market perform” rating in a research note on Monday. Barclays dropped their price target on Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, July 17th. Finally, Moffett Nathanson reduced their price objective on Netflix from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.21.

View Our Latest Research Report on Netflix

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

Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure Insider Transactions at Netflix In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the transaction, the director owned 79,690 shares of the company’s stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total value of $2,402,636.64. Following the sale, the chief executive officer owned 284,804 shares in the company, valued at approximately $25,054,207.88. This represents a 8.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is owned by insiders.

Netflix Stock Up 1.6% Shares of NFLX stock opened at $68.67 on Wednesday. The firm’s fifty day moving average price is $79.42 and its two-hundred day moving average price is $86.49. The company has a current ratio of 1.14, a quick ratio of 1.41 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $126.71. The firm has a market capitalization of $285.94 billion, a P/E ratio of 21.61, a PEG ratio of 0.85 and a beta of 1.52.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts predict that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

Netflix Profile (Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

Featured Articles Five stocks we like better than Netflix Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible

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Posted by Defense World Staff on Jul 22nd, 2026

Amova Asset Management Americas Inc. grew its stake in shares of Linde PLC (NASDAQ:LIN – Free Report) by 24.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,387 shares of the basic materials company’s stock after acquiring an additional 1,658 shares during the period. Amova Asset Management Americas Inc.’s holdings in Linde were worth $4,156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Darwin Wealth Management LLC acquired a new stake in Linde during the second quarter valued at approximately $25,000. Legacy Wealth Managment LLC ID increased its holdings in shares of Linde by 96.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 28 shares during the last quarter. Triumph Capital Management raised its position in shares of Linde by 69.2% during the 4th quarter. Triumph Capital Management now owns 66 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 27 shares in the last quarter. Strengthening Families & Communities LLC raised its position in shares of Linde by 134.5% during the 4th quarter. Strengthening Families & Communities LLC now owns 68 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 39 shares in the last quarter. Finally, High Note Wealth LLC lifted its stake in Linde by 108.6% during the fourth quarter. High Note Wealth LLC now owns 73 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.

Analysts Set New Price Targets LIN has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Linde in a report on Friday. Sanford C. Bernstein set a $559.00 price target on shares of Linde in a research report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $560.00 price target on shares of Linde in a report on Tuesday, May 5th. Weiss Ratings raised shares of Linde from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Linde from $525.00 to $530.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $548.67.

Check Out Our Latest Research Report on LIN

Linde Stock Performance Shares of LIN opened at $505.03 on Wednesday. Linde PLC has a 1 year low of $387.78 and a 1 year high of $548.20. The company has a market cap of $233.50 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.83. The firm has a fifty day moving average of $516.13 and a 200-day moving average of $492.69.

Linde (NASDAQ:LIN – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The basic materials company reported $4.33 EPS for the quarter, topping the consensus estimate of $4.27 by $0.06. Linde had a net margin of 20.44% and a return on equity of 19.80%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.60 billion. During the same quarter in the prior year, the firm earned $3.95 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Linde has set its FY 2026 guidance at 17.600-17.900 EPS and its Q2 2026 guidance at 4.400-4.500 EPS. As a group, equities analysts anticipate that Linde PLC will post 17.88 earnings per share for the current year.

Linde Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a $1.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Linde’s dividend payout ratio is 42.50%.

Linde Company Profile (Free Report)

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.

Read More Five stocks we like better than Linde Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde PLC (NASDAQ:LIN – Free Report).

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https://www.investopedia.com/solana-5210472

Tokenized equities on Solana have reached a new milestone with lending market activity hitting a weekly all-time high of $51.9 million, according to data from SolanaFloor. Kamino and Jupiter Exchange are key platforms contributing to this surge, with over $31 million and $20 million respectively. This development reflects growing interest and usage of tokenized equities within the Solana ecosystem, suggesting increased collateral use and participation in onchain credit markets. Recent records in the overall Solana tokenized equity market, including a significant $535 million in total outstanding value, further highlight the ecosystem’s expanding reach.

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Key Takeaways Solana’s tokenized equities have achieved a weekly record of $51.9 million in lending markets, suggesting increased engagement. Kamino and Jupiter Exchange are the primary platforms driving this growth, with significant contributions to the weekly total. The broader Solana tokenized equity market has also shown substantial growth, with a total outstanding value peaking at $535 million. What to Watch Markets are closely monitoring whether the increased activity in tokenized equities on Solana will influence its price trajectory. Key developments such as potential ETF inflows, regulatory changes, and ecosystem upgrades could impact the likelihood of Solana reaching higher price targets. Observers are particularly attentive to whether these dynamics align with scenarios where Solana achieves or exceeds the $90 price level by the end of July. Further announcements from Solana Labs or shifts in regulatory stances may provide additional indicators.

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Term Structure

Contract Odds Δ since publish Volume 24h August 1 2026 8% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.4% — — View market → August 1 2026 1.6% — — View market → August 1 2026 0.4% — — View market → August 1 2026 2.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 22% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →

Posted by Defense World Staff on Jul 22nd, 2026

Andra AP fonden raised its holdings in shares of Danaher Corporation (NYSE:DHR – Free Report) by 648.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,642 shares of the conglomerate’s stock after buying an additional 66,405 shares during the period. Andra AP fonden’s holdings in Danaher were worth $14,531,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DHR. Sivia Capital Partners LLC boosted its stake in shares of Danaher by 6.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate’s stock worth $397,000 after acquiring an additional 119 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Danaher by 34.5% during the second quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate’s stock valued at $10,947,000 after purchasing an additional 14,217 shares during the last quarter. Main Street Financial Solutions LLC lifted its holdings in shares of Danaher by 40.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate’s stock valued at $610,000 after purchasing an additional 886 shares during the last quarter. Ieq Capital LLC boosted its position in shares of Danaher by 64.2% in the 2nd quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate’s stock valued at $14,957,000 after purchasing an additional 29,592 shares during the period. Finally, HUB Investment Partners LLC boosted its position in shares of Danaher by 30.7% in the 2nd quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate’s stock valued at $273,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Ratings Changes Several research analysts have commented on DHR shares. Evercore reiterated an “outperform” rating and issued a $230.00 target price on shares of Danaher in a report on Monday, July 6th. Barclays reduced their price target on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. The Goldman Sachs Group decreased their price objective on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Rothschild & Co Redburn set a $205.00 price objective on shares of Danaher in a research report on Friday, April 17th. Finally, Argus cut their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.64.

Check Out Our Latest Stock Analysis on Danaher

Danaher News Summary Here are the key news stories impacting Danaher this week:

Positive Sentiment: Danaher posted Q2 adjusted EPS of $1.94, above the $1.84 consensus, and revenue of about $6.26 billion to $6.3 billion, also ahead of estimates. Danaher Reports Second Quarter 2026 Results Positive Sentiment: Management raised full-year adjusted EPS guidance, showing confidence in profitability despite the softer sales backdrop. Danaher Corp (DHR) Q2 2026 Earnings Call Highlights Neutral Sentiment: Life Sciences was a bright spot, with stronger sales growth, but bioprocessing revenue came in weaker than expected and was cited as a drag on sentiment. Reuters: Danaher’s revenue outlook cut, biotech miss overshadow profit forecast raise Negative Sentiment: Investors reacted negatively to the reduced core revenue growth outlook and cautious near-term guidance, which outweighed the earnings beat and led to the stock decline. Danaher stock slips despite Q2 earnings beat, raised guidance Negative Sentiment: Analysts also highlighted “surprisingly soft” bioprocessing sales, reinforcing concerns that growth may slow more than expected. Danaher Plummets After One Segment Comes In ‘Surprisingly Soft’ Danaher Trading Down 11.0% Danaher stock opened at $179.01 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The company has a market capitalization of $126.70 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 2.48 and a beta of 0.79. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company’s fifty day moving average price is $184.22 and its two-hundred day moving average price is $197.69.

Danaher (NYSE:DHR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.11 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, analysts forecast that Danaher Corporation will post 8.45 earnings per share for the current fiscal year.

Danaher Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Danaher’s payout ratio is presently 30.95%.

Danaher Profile (Free Report)

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

Featured Stories Five stocks we like better than Danaher Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible

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Posted by Defense World Staff on Jul 22nd, 2026

California Public Employees Retirement System trimmed its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,291,551 shares of the semiconductor manufacturer’s stock after selling 324,634 shares during the quarter. Broadcom makes up about 2.5% of California Public Employees Retirement System’s investment portfolio, making the stock its 7th largest holding. California Public Employees Retirement System owned about 0.28% of Broadcom worth $4,113,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC grew its position in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its stake in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Networth Advisors LLC raised its holdings in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets A number of equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Bank of America boosted their price target on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Erste Group Bank reissued a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

View Our Latest Stock Report on Broadcom

Insider Transactions at Broadcom In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,644 shares of company stock valued at $24,016,214 in the last three months. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Performance AVGO opened at $386.50 on Wednesday. The business has a 50 day moving average price of $399.63 and a two-hundred day moving average price of $365.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The company has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 64.42, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

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

Positive Sentiment: UBS said the recent momentum unwind in semiconductors may be nearing its end, which could allow investors to rebuild positions in names like Broadcom as forced selling eases. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why Positive Sentiment: Analysts highlighted Broadcom’s VMware Cloud Foundation momentum, saying the software platform is becoming a larger growth engine as enterprises move private clouds and AI workloads to virtualized environments. VCF is Becoming Broadcom’s Growth Engine: More Upside Ahead? Positive Sentiment: Broadcom benefited from a broader semiconductor rebound, with chip stocks rising as investors bought the dip after the recent selloff and AI-related volatility. 5 Things to Know Before the Stock Market Opens on Tuesday Positive Sentiment: Morgan Stanley continued to frame Broadcom as one of the more attractive AI infrastructure names, citing strong cash generation and favorable risk-reward after the sector pullback. Broadcom stock gains 2% today: here’s why Neutral Sentiment: Broadcom also got a boost from a new Standard Chartered deal to power banking cloud modernization across 54 markets, reinforcing the value of its VMware-based infrastructure software. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets Negative Sentiment: Sentiment remains somewhat pressured by an ITC investigation tied to Netlist’s patent complaint, which pulled Broadcom into broader regulatory noise around Samsung memory products and customers. Is Broadcom (AVGO) Still Undervalued As Netlist Patent Claims Test Sentiment? Negative Sentiment: Some headlines also noted that an AI-focused trading model sold Broadcom after its expected return profile weakened, reflecting lingering caution after the recent tech selloff. Claude AI Sells Broadcom (AVGO) Stock Broadcom Profile (Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading Five stocks we like better than Broadcom Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).

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Posted by Defense World Staff on Jul 22nd, 2026

California Public Employees Retirement System raised its stake in Southern Copper Corporation (NYSE:SCCO – Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,523 shares of the basic materials company’s stock after acquiring an additional 33,638 shares during the period. California Public Employees Retirement System’s holdings in Southern Copper were worth $33,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. National Wealth Management Group LLC acquired a new position in shares of Southern Copper in the 4th quarter valued at approximately $1,281,000. Nordea Investment Management AB boosted its position in shares of Southern Copper by 74.0% during the 4th quarter. Nordea Investment Management AB now owns 258,341 shares of the basic materials company’s stock worth $37,142,000 after acquiring an additional 109,857 shares in the last quarter. Savvy Advisors Inc. bought a new position in Southern Copper in the fourth quarter valued at approximately $1,434,000. Oak Harvest Investment Services bought a new position in Southern Copper in the fourth quarter valued at approximately $7,650,000. Finally, US Bancorp DE increased its stake in Southern Copper by 16.2% in the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after acquiring an additional 10,360 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets Several research firms have weighed in on SCCO. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research note on Friday, April 10th. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Barclays reissued an “underweight” rating and set a $160.00 price target (up from $148.00) on shares of Southern Copper in a report on Wednesday, July 15th. Finally, UBS Group restated a “sell” rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $148.10.

Get Our Latest Stock Report on SCCO

Southern Copper Stock Up 7.3% Shares of NYSE:SCCO opened at $187.92 on Wednesday. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a market capitalization of $155.24 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a fifty day moving average of $180.76 and a 200-day moving average of $182.80.

Southern Copper’s stock is going to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.3%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is 72.73%.

Insider Buying and Selling In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 404 shares of company stock worth $74,108. 0.07% of the stock is owned by company insiders.

Southern Copper Company Profile (Free Report)

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

Further Reading Five stocks we like better than Southern Copper Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO – Free Report).

Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.

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22.7.2026 10:41, BAAGECBA

Moneta Money Bank v pátek v 7:00 představí výsledky za 2Q 2026, od 10:00 bude následovat konferenční hovor s managementem.

Projekce hospodaření Moneta Money Bank za 2Q 2026 v mil. Kč Projekce Fio Konsensus trhu 2Q 2025 Čisté úrokové výnosy 2 595 2 587 2 421 Čisté poplatky a provize 867 863 818 Ostatní provozní výnosy 170 175 173 Provozní výnosy 3 632 3 625 3 412 Provozní náklady (1 380) (1 387) (1 375) Provozní zisk 2 253 2 238 2 037 Náklady na riziko (164) (209) (117) Čistý zisk 1 765 1 718 1 628 Očekáváme, že meziročně dojde k 7% nárůstu čistých úrokových výnosů díky vyššímu objemu úvěrového portfolia.

Čisté poplatky a provize by měly meziročně vzrůst o 6 %, zatímco ostatní provozní výnosy by měly zůstat na podobné úrovni. Celkově by dle naší projekce měly provozní výnosy dosáhnou výše 3 632 mil. Kč, meziročně + 6 %.

Provozní náklady by měly meziročně zůstat na stejné úrovni.

Celkově tak očekáváme, že Moneta na provozní úrovni vykáže meziroční nárůst zisku o 11 % na 2 253 mil. Kč.

Náklady na riziko by dle naší projekce měly dosáhnout výše 164 mil. Kč.

Na úrovni čistého zisku tak očekáváme, že Moneta za 2Q 2026 vykáže nárůst o 8 % na 1 765 mil. Kč.

Akcie Moneta Money Bank (BAAGECBA) se obchodují na pražské burze za 188,30 Kč a na RM-SYSTÉMu za 189 Kč.

Zdroj: Moneta Money Bank

Karel Nedvěd, Fio banka, a.s.

Summary:

USD/CAD held near 1.4100 after extending its recovery, with traders watching the key 1.4115 resistance level. Safe-haven demand for the US dollar continues to outweigh support for the Canadian dollar from higher crude oil prices. A break above 1.4115 could strengthen bullish momentum, while oil prices and US economic data remain the next major catalysts. The USD/CAD exchange rate traded around 1.4101 on Tuesday after recovering steadily over the past several sessions, as renewed demand for the US dollar continued to offset the Canadian dollar’s traditional support from rising crude oil prices.

The pair has advanced despite Brent crude remaining above $90 per barrel, highlighting how geopolitical uncertainty and expectations for higher US interest rates have become the dominant drivers of currency markets.

Investors are now watching whether USD/CAD can break above 1.4115, a level that could determine whether the pair resumes its broader uptrend.

Why Is USD/CAD Rising Today? The US dollar has regained strength as investors continue to favour safe-haven assets amid escalating tensions between the United States and Iran.

The conflict has pushed oil prices sharply higher, raising concerns that inflation could remain elevated and encouraging expectations that the Federal Reserve may keep interest rates restrictive for longer.

Those expectations have supported US Treasury yields and increased demand for the dollar across the forex market.

Ordinarily, rising oil prices benefit the Canadian dollar because Canada is one of the world’s largest crude exporters. However, the current geopolitical environment has strengthened the US dollar by an even greater margin, allowing USD/CAD to continue climbing despite favourable conditions for the loonie.

How Do Higher Oil Prices Affect USD/CAD? Crude oil remains one of the most important drivers of the Canadian dollar.

When oil prices rise, Canada’s export revenues typically increase, improving the country’s trade balance and supporting the value of the Canadian dollar.

This week, however, that relationship has weakened.

Brent crude has remained above $90 per barrel after threats to shipping through the Strait of Hormuz raised concerns over global energy supplies. Instead of boosting the Canadian dollar, the oil rally has primarily fuelled inflation concerns, strengthening demand for the US dollar and limiting gains for commodity-linked currencies.

As long as geopolitical risks continue driving oil prices higher, the Canadian dollar may struggle to fully benefit from stronger energy markets.

Will USD/CAD Break Above 1.4115? The 1.4115 level has become the key technical hurdle for USD/CAD. ActionForex notes that a decisive move above this resistance would confirm that the recent pullback from 1.4247 has likely ended and increase the probability of another test of that July high.

Conversely, failure to break above 1.4115 could trigger short-term profit-taking after the pair’s recent rally. For now, the broader outlook remains constructive while the pair continues trading comfortably above the 1.3954 support area.

USD/CAD Outlook The short-term USD/CAD outlook remains tilted to the upside while the pair trades just below the key 1.4115 resistance level.

Although elevated oil prices would normally strengthen the Canadian dollar, safe-haven demand for the US dollar and expectations that the Federal Reserve could keep interest rates higher for longer continue to dominate market sentiment.

Whether USD/CAD extends its recovery will likely depend on upcoming US economic data, developments in the Middle East and the direction of crude oil prices. A convincing move above 1.4115 would strengthen the case for another attempt at 1.4247, while renewed strength in the Canadian dollar could limit further gains if oil prices continue climbing.

Why is USD/CAD rising today?

USD/CAD is rising as investors buy the US dollar amid geopolitical uncertainty and expectations that the Federal Reserve may keep interest rates higher for longer. Safe-haven demand has outweighed support for the Canadian dollar from stronger oil prices.

How do oil prices affect USD/CAD?

Higher oil prices usually strengthen the Canadian dollar because Canada is a major oil exporter. A stronger Canadian dollar typically pushes USD/CAD lower. However, during periods of heightened geopolitical risk, the US dollar can outperform despite rising crude prices.

Will USD/CAD break above 1.4115?

The 1.4115 level is the next key resistance for USD/CAD. A sustained break above this level could signal a continuation of the recent recovery and open the door for a retest of the 1.4247 high.

Equinor (OSE:EQNR, NYSE:EQNR) delivered an adjusted operating income* of USD 11.48 billion in the second quarter of 2026. Equinor reported a net operating income of USD 12.99 billion and a net income of USD 4.84 billion. Adjusted net income* was USD 3.22 billion, leading to adjusted earnings per share* of USD 1.33.

Delivering on strategy: more energy, growing cash flow and superior returns

Contracts awarded for first wave of NCS tie-back projectsStrategic transactions on the NCS to harmonise ownership and progress Ringvei VestFID taken for Greater PAJ in Angola
Strong production, cash flow and financial results

Production growth of 3%High value creation from asset-backed tradingCash flow from operations after taxes paid* of USD 7.7 billion
Capital distribution

Second quarter cash dividend of USD 0.39 per shareThird tranche of the share buy-back of up to USD 1,125 millionExpected share buy-back of USD 3 billion for 2026
Anders Opedal, President and CEO of Equinor ASA:

“Strong production in the second quarter enabled us to capture value from higher prices, contributing to strong cash flow and financial results.”

“We made progress on our priorities set out at the Capital Markets Day to deliver more energy, growing cash flow and superior returns. In the quarter, we strengthened our portfolio through project execution and strategic transactions.”

“Reliable energy is important in a volatile world marked by heightened geopolitical tension. Our role is to deliver energy safely and efficiently every day.”

More energy through strong production

Equinor delivered high production in the second quarter with a total equity production of 2,165 mboe per day in the second quarter. This is a 3% increase compared to 2,096 mboe per day in the same quarter last year.

Production from new fields, including Eirin and Symra coming on stream, drove a 4% production increase on the Norwegian continental shelf (NCS) compared to the second quarter of 2025. Johan Sverdrup and new wells supported the production, while planned turnaround activity and natural decline partially offset the result.

The addition of production from Adura in the UK and the Bacalhau field in Brazil, as well as lower turnaround activity, contributed to a 4% production increase in the international oil and gas reporting segment compared to the same period last year. This was partially offset by portfolio changes, in addition to natural decline and operational issues at Roncador in Brazil.

The production in the US was stable in the quarter compared to the same quarter last year.

Total power generation was 1.19 TWh. Driven by Dogger Bank B and new onshore assets, renewable power generation increased by 11% compared to the second quarter of 2025. The increase in total power generation was partially offset by lower gas-to-power generation.

Growing cash flow with strong financial results

Equinor delivered an adjusted operating income* of USD 11.48 billion and USD 3.44 billion after tax* in the second quarter. The results are primarily impacted by higher liquid prices globally and European gas prices, partially offset by lower US gas prices.

The reported net operating income of USD 12.99 billion is up from USD 5.72 billion in the same quarter last year. Results were supported by higher prices, positive derivative effects and the sale of assets in Argentina.

Equinor realised a European gas price of USD 15.8 per mmbtu and a liquids price of USD 97.9 per bbl in the second quarter.

The Marketing, Midstream and Processing results were strong, primarily driven by strong crude trading and refining performance.

Adjusted operating and administrative expenses* were higher compared to the same quarter last year. This was mainly due to higher transportation costs from increased freight rates and currency effects.

High production combined with higher prices generated cash flows provided by operating activities, before taxes paid and working capital items, of USD 14.75 billion.

In the quarter, Equinor paid the final three NCS tax instalments for 2025 totalling USD 6.4 billion.

Cash flow from operations after taxes paid* ended at USD 7.68 billion.

Organic capital expenditure* was USD 3.35 billion and total capital expenditures were USD 3.57 billion.

The net debt to capital employed adjusted ratio* was 10.4% at the end of the second quarter, compared to 15.3% last quarter.

Executing on strategy

On the NCS, Equinor awarded contracts for the first wave of NCS tie-back projects and secured a series of strategic transactions to unlock additional value, accelerate development and strengthen the position in key areas.

Moreover, production started at both the Symra and the Eirin field, of which the latter is expected to extend the production from the Gina Krog platform by seven years.

In the quarter, Equinor, together with partners, took a final investment decision for the offshore oil development Greater PAJ project in Angola.

Equinor had exploration activity on ten wells in the quarter. Seven wells were completed, of which three appraisal wells on the NCS confirm previously reported commercial discoveries.

Capital distribution

The board of directors has decided a cash dividend of USD 0.39 per share for the second quarter 2026. This is in line with the communication on 4 February 2026, when results for the fourth quarter of 2025 were announced.

At the Capital Markets Day on 16 June this year, Equinor announced an intention to increase the share buy-back programme for 2026 by USD 1.5 billion. This brings the total expected programme for 2026 to up to USD 3 billion, including shares to be redeemed from the Norwegian State. The board has decided to initiate a third tranche of the share buy-back programme for 2026 of up to USD 1,125 million. The tranche will commence on 23 July and end no later than 26 October 2026.

The second tranche of the share buy-back programme for 2026 was completed on 16 July 2026 with a total value of USD 375 million.

All share buy-back amounts include shares to be redeemed by the Norwegian State.

- - -

*For items marked with an asterisk throughout this report, see Use and reconciliation of non-GAAP financial measures in the Supplementary disclosures.

- - -

Further information from:

Investor relations
Bård Glad Pedersen, Senior vice president Investor relations,
+47 918 01 791 (mobile)

Press
Sissel Rinde, Vice president Media relations,
+47 412 60 584 (mobile)

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

Equinor Financial Statements and Review Second Quarter 2026 CFO presentation Second quarter 2026 results

The British Pound (GBP) consolidates losses against the US Dollar (USD) on Wednesday, as a string of UK inflation figures provided some leeway for the Bank of England to maintain its “wait-and-see” stance through the coming months. The GBP/USD pair remains pinned near weekly lows, below 1.3400 following a nearly 1.2% decline in the last four days.

Data released by the UK National Statistics Office on Wednesday revealed that the Consumer Price Index (CPI) moderated to a 2.6% year-over-year (Y-o-Y)  growth in June, from 2.8% in May, below the 2.7% forecasted by market analysts. The Core CPI, however, remained steady at 2.6% against expectations of a 2.5% reading.

Beyond that, the Input Producer Price Index (PPI) contracted 2% on the month, its sharpest decline in more than six years, while the Output PPI remained flat, undershooting expectations of a 0.4% advance. Year on year, input PPI eased to 7.3% from 9.3% while the Output PPI slowed down to 3.5% in June from 3.7% in May.

In the US, the calendar has been thin this week, but the US Dollar maintains a bid tone, buoyed by market concerns about the war in the Middle East and higher US Treasury yields. The US military pounded targets in Iran for the 11th consecutive day on Wednesday, and US President Donald Trump threatened to attack nuclear facilities, which, according to Tehran, would expand the war in the region.

UK Pound slides amid PM Burnham’s early fiscal signalsRabobank’s FX team notes that “UK markets have now had a few hours to react to PM Burnham’s new cabinet, many of whom have been involved in UK politics for years,” and the initial response has been cautious. They highlight that “10-year gilt yields are currently above the 5% level, which is a sign of some anxiety,” while “the Pound is the worst performing G10 currency on a 1-day view,” underscoring investor unease around the new administration’s fiscal direction.

In the near term, Rabobank points out that “Burnham has promised measures to ease cost-of-living pressures,” with the policy push already underway. “He kicked this off this morning with the news that VAT on household electricity bills will be cut from October,” the bank observes, adding that “the market is now bracing itself for a list of further announcements” as investors assess how these initiatives will be funded and what they might mean for UK assets.

Economic Indicator Consumer Price Index (YoY) The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is the inflation measure used in the government’s target. The YoY reading compares prices in the reference month to a year earlier. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish.

Read more.

The Bank of England is tasked with keeping inflation, as measured by the headline Consumer Price Index (CPI) at around 2%, giving the monthly release its importance. An increase in inflation implies a quicker and sooner increase of interest rates or the reduction of bond-buying by the BOE, which means squeezing the supply of pounds. Conversely, a drop in the pace of price rises indicates looser monetary policy. A higher-than-expected result tends to be GBP bullish.

Economic Indicator Consumer Price Index (MoM) The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is also the inflation measure used in the government’s target. The MoM figure compares the prices of goods in the reference month to the previous month. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish.

Read more.