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New York, New York--(Newsfile Corp. - October 22, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Alphabet Inc. ("Alphabet" or the "Company") (NASDAQ: GOOGL) (NASDAQ: GOOG) on behalf of investors that purchased or otherwise acquired Alphabet securities between May 19, 2026 and July 16, 2026 (the "Class Period").

CLICK HERE TO JOIN THE CASE

If you are an investor in Alphabet and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 1, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On July 16, 2026, according to the complaint, Bloomberg reported that Google is "months behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model" due to the Company's ongoing coding efforts and that "[l]ate last month, Google updated the data being used to train Gemini in an attempt to improve [its] skills, but the results were disappointing."

On this news, the price of Alphabet's Class A and Class C common stock fell $16.46 per share and $16.39 per share, respectively, or 4.4%, on July 16, 2026.

The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose (1) that the Gemini 3.5 Pro was delivering disappointing training results, and (2) that, as a result, the launch of Gemini 3.5 Pro would be significantly delayed.

CLICK HERE TO LEARN MORE

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this Notice, your rights, or your interests, please contact:

Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.

https://www.kaplanfox.com/case/alphabet-googl-class-action/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320216

Source: Kaplan Fox & Kilsheimer LLP

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, /PRNewswire/ -- Dow (NYSE: DOW): 

FINANCIAL HIGHLIGHTS

Net sales were $11.3 billion, up 13% year-over-year, reflecting increases in all operating segments. Local price increased 14% versus the year-ago period, led by gains in Packaging & Specialty Plastics, with higher polyethylene prices in all regions. Currency was flat year-over-year. Volume decreased 1% year-over-year. This reflects higher volumes in all regions except Asia Pacific, where impacts from the Middle East conflict are most pronounced.    GAAP net income was $525 million. Operating EBIT1 was $887 million, up $707 million year-over-year, primarily driven by higher prices as well as benefits from the Company's collective self-help actions, which more than offset higher raw materials and logistics costs. GAAP earnings per share (EPS) was $0.62; operating EPS1 was $0.71, compared to a loss of $0.19 in the year-ago period. Op. EPS excludes significant items totaling $0.09 per share, primarily driven by costs associated with the Company's collective self-help actions.   Cash provided by operating activities – continuing operations was $1.8 billion, up $709 million year-over-year, reflecting improved earnings and working capital, and up $515 million sequentially, primarily reflecting working capital improvements. Free cash flow1 was $1.1 billion, with trailing twelve-month cash flow conversion1 of 84%. Returns to shareholders totaled $253 million of dividends in the quarter. CEO QUOTE

"Dow delivered a solid third quarter, driven by targeted downstream growth and disciplined execution against an evolving macro backdrop," said Karen S. Carter, Dow chief executive officer. "Our teams are delivering on our unique-to-Dow self-help commitments – including our 2025 $1 billion cost program, our European asset actions, and Transform to Outperform. Specific to the transformation, we are on track to achieve the upsized $700 million in growth and productivity benefits in 2026, as well as the approximately $2 billion in total uplift by the end of next year. In addition, we captured sequential gains from the first of our three European asset shutdowns, where the total benefits are expected to build through 2027. We also remain focused on cash, including releasing more than $400 million of working capital during the quarter and reducing debt by approximately $600 million year-to-date. Our near-term actions are building a Dow that delivers stronger, more consistent results and long-term value for our shareholders."  

SUMMARY FINANCIAL RESULTS

Three Months Ended Sep 30

In millions, except per share amounts

3Q26

3Q25

vs. SQLY

[B / (W)]

Net Sales

$11,267

$9,973

$1,294

GAAP Income Net of Tax

$525

$124

$401

Op. EBIT¹

$887

$180

$707

Op. EBITDA¹

$1,553

$868

$685

GAAP Earnings Per Share

$0.62

$0.08

$0.54

Op. Earnings Per Share¹

$0.71

$(0.19)

$0.90

Cash Provided by Op. Activities – Cont. Ops

$1,839

$1,130

$709

1. Op. Earnings Per Share, Op. EBIT, Op. EBIT Margin and Op. EBITDA, Free Cash Flow and Cash Flow Conversion are non-GAAP measures. See appendix for further discussion.
®TM Trademark of The Dow Chemical Company or an affiliated company of Dow

SEGMENT HIGHLIGHTS

Packaging & Specialty Plastics

Three Months Ended Sep 30

In millions

3Q26

3Q25

vs. SQLY

[B / (W)]

Net Sales

$5,778

$4,891

$887

Op. EBIT

$585

$199

$386

Packaging & Specialty Plastics segment net sales in the quarter were $5.8 billion, up 18% versus the year-ago period. Local price increased 17% year-over-year, primarily driven by higher prices across both businesses in EMEAI and the U.S. & Canada. Currency was flat. Volume increased 1% year-over-year, primarily driven by increases in EMEAI in both businesses.

Op. EBIT was $585 million, an increase of $386 million compared to the year-ago period, driven by higher integrated margins as a result of higher polyethylene prices and tailwinds from the Company's self-help initiatives, which were partly offset by higher planned maintenance activity.

Packaging and Specialty Plastics business reported a net sales increase versus the year-ago period, driven by higher polyethylene and functional polymers prices in all regions. Polyethylene demand remained resilient, with year-over-year volume growth excluding supply constraints associated with the Middle East conflict.                           

Hydrocarbons & Energy business reported a year-over-year increase in net sales, with higher price and volume for Olefins and Aromatics in EMEAI, enabled by the restart of our previously idled cracker in the region.

Industrial Intermediates & Infrastructure

Three Months Ended Sep 30

In millions

3Q26

3Q25

vs. SQLY

[B / (W)]

Net Sales

$3,058

$2,834

$224

Op. EBIT

$176

$(47)

$223

Industrial Intermediates & Infrastructure segment net sales in the quarter were $3.1 billion, up 8% versus the year-ago period. Local price increased 16% year-over-year, reflecting gains in both businesses and in all regions. Currency decreased net sales by 1%. Volume decreased 7% year-over-year, as higher volumes in Industrial Solutions were more than offset by lower volumes in Polyurethanes & Construction Chemicals, including impacts from the Middle East conflict in both businesses. 

Op. EBIT was $176 million, an increase of $223 million versus the year-ago period, driven by higher margins, tailwinds from the Company's self-help initiatives and the suspension of the recognition of equity losses from Sadara, all of which were partially offset by higher energy costs in EMEAI.

Polyurethanes & Construction Chemicals business reported an increase in net sales compared to the year-ago period, primarily driven by local price gains in propylene oxide derivatives in the U.S. & Canada and EMEAI. This was partially offset by lower volumes, which primarily reflect impacts from the Middle East conflict.

Industrial Solutions business reported an increase in net sales compared to the year-ago period, driven by local price gains in all regions. Volume growth was driven by increased demand for AI infrastructure and energy applications, as well as higher ethylene oxide project-related catalyst sales.

Performance Materials & Coatings

Three Months Ended Sep 30

In millions

3Q26

3Q25

vs. SQLY

[B / (W)]

Net Sales

$2,250

$2,082

$168

Op. EBIT

$154

$80

$74

Performance Materials & Coatings segment net sales in the quarter were $2.3 billion, up 8% versus the year-ago period. Local price increased 5% year-over-year in both businesses, led by Coatings & Performance Monomers. Currency was flat. Volume increased 3% year-over-year, driven by higher volumes in both businesses, led by growth in downstream silicones.

Op. EBIT was $154 million, an increase of $74 million versus the year-ago period, driven by tailwinds from the Company's self-help initiatives, including the closure of the Barry, U.K. siloxanes plant, as well as price and volume gains across both businesses.

Consumer Solutions business reported an increase in net sales versus the year-ago period, driven by downstream silicones volume gains in all regions, as growth in consumer, electronics and home care applications more than offset upstream volume declines following the recent shutdown of the Barry, U.K. siloxanes plant.

Coatings & Performance Monomers business reported an increase in net sales across all regions compared to the year-ago period, led by higher price and volume in both acrylic monomers and architectural coatings.

OUTLOOK

"We are building a more resilient and competitive Dow that is positioned to create long-term value through our continued focus on three priorities," said Carter. "First, driving growth and innovation in higher-value areas of our businesses where demand is growing well above GDP – including applications for AI infrastructure, home and personal care, electronics, flexible packaging and mobility. Second, we are taking action to strengthen the competitiveness of Dow's portfolio by investing in differentiated low-cost positions while shutting down higher-cost upstream capacity. And third, we're maintaining a disciplined and balanced approach to capital allocation that supports long-term shareholder value creation. These priorities are underpinned by our self-help actions, which are on track to deliver more than $1 billion of EBITDA uplift in both 2026 and 2027."  

Conference Call

Dow will host a live webcast of its quarterly earnings conference call with investors to discuss its results, business outlook and other matters today at 8:00 a.m. ET. The webcast and slide presentation that accompany the conference call will be posted on the events and presentations page of investors.dow.com.

About Dow

Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, customer-focused innovation and leading business positions enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 29 countries and employed approximately 34,600 people as of year-end 2025. Dow delivered sales of approximately $40 billion in 2025. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us at www.dow.com.

X: https://twitter.com/DowNewsroom 
Facebook: https://www.facebook.com/dow/ 
LinkedIn: http://www.linkedin.com/company/dow-chemical 
Instagram: http://instagram.com/dow_official 

Cautionary Statement about Forward-Looking Statements 

Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases.

Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow's products; Dow's expenses, future revenues and profitability; any supply chain, operational or other disruptions, sanctions, export restrictions, or increased economic uncertainty related to the ongoing conflicts between Russia and Ukraine and in the Middle East; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow's contemplated capital and operating projects; Dow's ability to realize its commitment to carbon neutrality on the contemplated timeframe, including the completion and success of its integrated ethylene cracker and derivatives facility in Alberta, Canada; size of the markets for Dow's products and services and ability to compete in such markets; Dow's ability to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow's products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow's intellectual property in the United States and abroad; Dow's ability to realize expected benefits from Transform to Outperform on the contemplated timeframe; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow's significant customers and suppliers; changes in public sentiment and political leadership; increased concerns about plastics in the environment and lack of a circular economy for plastics at scale; changes in consumer preferences and demand; changes in laws and regulations, political conditions, tariffs and trade policies, or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business, logistics and supply disruptions; security threats, such as acts of sabotage, terrorism or war, including the ongoing conflicts between Russia and Ukraine and in the Middle East; weather events and natural disasters; disruptions in Dow's information technology networks and systems, including the impact of cyberattacks; risks related to Dow's separation from DowDuPont Inc. such as Dow's obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities; and any global and regional economic impacts of a pandemic or other public health-related risks and events on Dow's business.

Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and the Company's subsequent reports filed with the U.S. Securities and Exchange Commission. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow's business. Dow Inc. and The Dow Chemical Company and its consolidated subsidiaries assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.

®TM Trademark of The Dow Chemical Company or an affiliated company of Dow 

Non-GAAP Financial Measures

This earnings release includes information that does not conform to GAAP and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company's segments, including allocating resources. Dow's management believes that these non-GAAP measures best reflect the ongoing performance of the Company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the Company and a more useful comparison of year-over-year results. These non-GAAP measures supplement the Company's GAAP disclosures and should not be viewed as alternatives to GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Non-GAAP measures included in this release are defined below. Reconciliations for these non-GAAP measures to GAAP are provided in the Selected Financial Information and Non-GAAP Measures section starting on page 10. Dow does not provide forward-looking GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, foreign currency exchange gains or losses and potential future asset impairments, as well as discrete taxable events, without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP results for the guidance period.

Operating Earnings Per Share is defined as "Earnings (loss) per common share - diluted" excluding the after-tax impact of significant items.

Operating EBIT is defined as earnings (i.e., "Income (loss) before income taxes") before interest, excluding the impact of significant items.

Operating EBIT Margin is defined as Operating EBIT as a percentage of net sales.

Operating EBITDA is defined as earnings (i.e., "Income (loss) before income taxes") before interest, depreciation and amortization, excluding the impact of significant items.

Free Cash Flow is defined as "Cash provided by operating activities - continuing operations," less capital expenditures. Under this definition, Free Cash Flow represents the cash generated by the Company from operations after investing in its asset base. Free Cash Flow, combined with cash balances and other sources of liquidity, represent the cash available to fund obligations and provide returns to shareholders. Free Cash Flow is an integral financial measure used in the Company's financial planning process.

Cash Flow Conversion is defined as "Cash provided by operating activities - continuing operations," divided by Operating EBITDA. Management believes Cash Flow Conversion is an important financial metric as it helps the Company determine how efficiently it is converting its earnings into cash flow.

Operating Return on Capital (ROC) is defined as net operating profit after tax, excluding the impact of significant items, divided by total average capital, also referred to as ROIC.

Dow Inc. and Subsidiaries

Consolidated Statements of Income

In millions, except per share amounts (Unaudited)

Three Months Ended

Nine Months Ended

Sep 30,
2026

Sep 30,
2025

Sep 30,
2026

Sep 30,
2025

Net sales

$   11,267

$     9,973

$   33,153

$   30,508

Cost of sales

9,889

9,242

28,968

28,523

Research and development expenses

180

191

568

579

Selling, general and administrative expenses

408

340

1,360

1,053

Amortization of intangibles

40

46

126

185

Restructuring and asset related charges - net

9

23

539

822

Equity in earnings (losses) of nonconsolidated affiliates

12

(72)

(255)

(122)

Sundry income (expense) - net

50

185

296

345

Interest income

50

47

130

114

Interest expense and amortization of debt discount

211

221

640

646

Income (loss) before income taxes

642

70

1,123

(963)

Provision (credit) for income taxes

117

(54)

241

4

Net income (loss)

525

124

882

(967)

Net income attributable to noncontrolling interests

67

62

236

113

Net income (loss) available for Dow Inc. common stockholders

$       458

$         62

$       646

$   (1,080)

Per common share data:

Earnings (loss) per common share - basic

$      0.63

$      0.08

$      0.88

$     (1.53)

Earnings (loss) per common share - diluted

$      0.62

$      0.08

$      0.88

$     (1.53)

Weighted-average common shares outstanding - basic

725.5

711.8

723.4

709.4

Weighted-average common shares outstanding - diluted

727.4

713.2

724.8

709.4

Dow Inc. and Subsidiaries

Consolidated Balance Sheets

In millions, except share amounts (Unaudited)

Sep 30,
2026

Dec 31,
2025

Assets

Current Assets

Cash and cash equivalents (variable interest entities restricted - 2026: $266; 2025: $31)

$         4,142

$         3,816

Accounts and notes receivable:

Trade (net of allowance for doubtful receivables - 2026: $66; 2025: $59)

5,890

4,762

Other

1,717

1,876

Inventories

7,024

6,595

Other current assets

1,404

1,013

Total current assets (variable interest entities restricted - 2026: $471; 2025: $228)

20,177

18,062

Investments

Investment in nonconsolidated affiliates

1,119

1,264

Other investments (investments carried at fair value - 2026: $2,320; 2025: $2,212)

3,201

3,017

Noncurrent receivables

612

309

Total investments

4,932

4,590

Property

Property

67,209

65,863

Less: Accumulated depreciation

44,811

43,613

Net property (variable interest entities restricted - 2026: $2,330; 2025: $2,385)

22,398

22,250

Other Assets

Goodwill

7,945

7,978

Other intangible assets (net of accumulated amortization - 2026: $5,882; 2025: $5,727)

1,318

1,486

Operating lease right-of-use assets

1,304

1,356

Deferred income tax assets

1,555

1,511

Deferred charges and other assets

1,324

1,305

Total other assets (variable interest entities restricted - 2026: $204; 2025: $226)

13,446

13,636

Total Assets

$       60,953

$       58,538

Liabilities and Equity

Current Liabilities

Notes payable

$              16

$              90

Long-term debt due within one year

745

222

Accounts payable:

Trade

5,300

4,151

Other

1,363

1,394

Operating lease liabilities - current

341

340

Income taxes payable

367

337

Accrued and other current liabilities

3,361

2,649

Total current liabilities (variable interest entities nonrecourse - 2026: $503; 2025: $438)

11,493

9,183

Long-Term Debt (variable interest entities nonrecourse - 2026: $173; 2025: $190)

16,778

17,849

Other Noncurrent Liabilities

Deferred income tax liabilities

368

364

Pension and other postretirement benefits - noncurrent

4,318

4,694

Asbestos-related liabilities - noncurrent

564

628

Operating lease liabilities - noncurrent

1,028

1,097

Other noncurrent obligations

8,772

7,201

Total other noncurrent liabilities (variable interest entities nonrecourse - 2026: $331; 2025: $364)

15,050

13,984

Stockholders' Equity

Common stock (authorized 5,000,000,000 shares of $0.01 par value each;

issued 2026: 791,927,232 shares; 2025: 790,287,565 shares)

8

8

Additional paid-in capital

11,060

11,112

Retained earnings

16,659

16,781

Accumulated other comprehensive loss

(7,654)

(7,660)

Treasury stock at cost (2026: 68,045,325 shares; 2025: 73,065,152 shares)

(3,920)

(4,233)

Dow Inc.'s stockholders' equity

16,153

16,008

Noncontrolling interests

1,479

1,514

Total equity

17,632

17,522

Total Liabilities and Equity

$       60,953

$       58,538

Dow Inc. and Subsidiaries

Consolidated Statements of Cash Flows

In millions (Unaudited)

Nine Months Ended

Sep 30,
2026

Sep 30,
2025

Operating Activities

Net income (loss)

$           882

$         (967)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

2,049

2,126

Credit for deferred income tax

(94)

(179)

Earnings of nonconsolidated affiliates less than dividends received

534

312

Net periodic pension benefit credit

(25)

(73)

Pension contributions

(138)

(145)

Net gain on sales of assets, businesses and investments

(48)

(211)

Restructuring and asset related charges - net

539

822

Other net loss

109

134

Changes in assets and liabilities, net of effects of acquired and divested companies:

Accounts and notes receivable

(1,214)

(400)

Inventories

(429)

(132)

Accounts payable

1,014

(492)

Other assets and liabilities, net

1,108

(31)

Cash provided by operating activities - continuing operations

4,287

764

Cash provided by (used for) operating activities - discontinued operations

6

(16)

Cash provided by operating activities

4,293

748

Investing Activities

Capital expenditures

(1,841)

(1,911)

Proceeds from incentives related to capital expenditures

67

132

Cash flow hedging related to capital expenditures

(22)

—

Investment in gas field developments

(69)

(110)

Proceeds from sales of property, businesses and consolidated companies, net of cash divested

60

135

Investments in and loans to nonconsolidated affiliates

(133)

(21)

Proceeds from sales of ownership interests in nonconsolidated affiliates

—

125

Purchases of investments

(1,090)

(523)

Proceeds from sales and maturities of investments

675

711

Other investing activities, net

61

5

Cash used for investing activities

(2,292)

(1,457)

Financing Activities

Changes in short-term notes payable

1

36

Proceeds from issuance of short-term debt greater than three months

20

50

Payments on short-term debt greater than three months

(92)

(46)

Proceeds from issuance of long-term debt

100

2,652

Payments on long-term debt

(577)

(1,207)

Collections on securitization programs, net of remittances

—

(3)

Transaction financing, debt issuance and other costs

(52)

(130)

Employee taxes paid for share-based payment arrangements

(15)

(16)

Distributions to noncontrolling interests

(232)

(93)

Proceeds from sale of noncontrolling interests

—

2,943

Dividends paid to stockholders

(758)

(1,239)

Other financing activities, net

—

(6)

Cash provided by (used for) financing activities

(1,605)

2,941

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(76)

259

Summary

Increase in cash, cash equivalents and restricted cash

320

2,491

Cash, cash equivalents and restricted cash at beginning of period

3,952

2,263

Cash, cash equivalents and restricted cash at end of period

$       4,272

$       4,754

Less: Restricted cash and cash equivalents, included in "Other current assets"

130

145

Cash and cash equivalents at end of period

$       4,142

$       4,609

Dow Inc. and Subsidiaries

Net Sales by Segment and Geographic Region

Net Sales by Segment

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,

2026

Sep 30,
2025

Sep 30,
2026

Sep 30,
2025

Packaging & Specialty Plastics

$     5,778

$     4,891

$   17,082

$   15,226

Industrial Intermediates & Infrastructure

3,058

2,834

8,850

8,475

Performance Materials & Coatings

2,250

2,082

6,691

6,282

Corporate

181

166

530

525

Total

$   11,267

$     9,973

$   33,153

$   30,508

U.S. & Canada

$     4,548

$     3,914

$   13,126

$   12,129

EMEAI 1

3,637

3,090

10,751

9,636

Asia Pacific

1,781

1,838

5,336

5,433

Latin America

1,301

1,131

3,940

3,310

Total

$   11,267

$     9,973

$   33,153

$   30,508

Net Sales Variance by Segment and
     Geographic Region

Three Months Ended Sep 30, 2026

Nine Months Ended Sep 30, 2026

Percent change from prior year

Local
Price &
Product
Mix

Currency

Volume

Total

Local

Price &

Product

Mix

Currency

Volume

Total

Packaging & Specialty Plastics

17 %

— %

1 %

18 %

12 %

1 %

(1) %

12 %

Industrial Intermediates & Infrastructure

16

(1)

(7)

8

8

1

(5)

4

Performance Materials & Coatings

5

—

3

8

2

1

4

7

Total

14 %

— %

(1) %

13 %

9 %

1 %

(1) %

9 %

Total, excluding the Hydrocarbons & Energy business

12 %

— %

(2) %

10 %

8 %

1 %

(1) %

8 %

U.S. & Canada

14 %

— %

2 %

16 %

8 %

— %

— %

8 %

EMEAI 1

17

(1)

2

18

10

4

(2)

12

Asia Pacific

9

—

(12)

(3)

5

1

(8)

(2)

Latin America

12

—

3

15

12

—

7

19

Total

14 %

— %

(1) %

13 %

9 %

1 %

(1) %

9 %

Europe, Middle East, Africa and India.  Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Operating EBIT by Segment

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,
2026

Sep 30,
2025

Sep 30,
2026

Sep 30,
2025

Packaging & Specialty Plastics

$       585

$       199

$     2,071

$       612

Industrial Intermediates & Infrastructure

176

(47)

304

(360)

Performance Materials & Coatings

154

80

404

281

Corporate

(28)

(52)

(90)

(144)

Total

$       887

$       180

$     2,689

$       389

Depreciation and Amortization by Segment

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,
2026

Sep 30,
2025

Sep 30,
2026

Sep 30,
2025

Packaging & Specialty Plastics

$       369

$       349

$     1,112

$     1,078

Industrial Intermediates & Infrastructure

147

158

432

457

Performance Materials & Coatings

145

174

484

566

Corporate

5

7

21

25

Total

$       666

$       688

$     2,049

$     2,126

Operating EBITDA by Segment

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,
2026

Sep 30,

2025

Sep 30,
2026

Sep 30,

2025

Packaging & Specialty Plastics

$       954

$       548

$     3,183

$     1,690

Industrial Intermediates & Infrastructure

323

111

736

97

Performance Materials & Coatings

299

254

888

847

Corporate

(23)

(45)

(69)

(119)

Total

$     1,553

$       868

$     4,738

$     2,515

Equity in Earnings (Losses) of Nonconsolidated
     Affiliates by Segment

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,

2026

Sep 30,
2025

Sep 30,

2026

Sep 30,

2025

Packaging & Specialty Plastics 1

$          (3)

$          (6)

$        (47)

$         40

Industrial Intermediates & Infrastructure 1

11

(68)

(216)

(165)

Performance Materials & Coatings

2

1

4

2

Corporate

2

1

4

1

Total

$         12

$        (72)

$      (255)

$      (122)

Reconciliation of "Net income (loss)" to "Operating EBIT"

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,

2026

Sep 30,

2025

Sep 30,
2026

Sep 30,
2025

Net income (loss)

$       525

$       124

$       882

$      (967)

+ Provision (credit) for income taxes

117

(54)

241

4

Income (loss) before income taxes

$       642

$         70

$     1,123

$      (963)

-  Interest income

50

47

130

114

+ Interest expense and amortization of debt discount

211

221

640

646

-  Significant items

(84)

64

(1,056)

(820)

Operating EBIT (non-GAAP)

$       887

$       180

$     2,689

$       389

Packaging & Specialty Plastics and Industrial Intermediates & Infrastructure include losses of $81 million and $211 million, respectively, in the nine months ended September 30, 2026, related to the Sadara guarantee liability adjustment, a significant item.  Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Three Months Ended Sep 30, 2026

In millions, except per share amounts (Unaudited)

Pretax 1

Net 
Income 2

EPS 3

Income Statement Classification

Reported results

$      642

$      458

$     0.62

Less: Significant items

Transform to Outperform 4

(69)

(54)

(0.08)

SG&A ($60 million); Restructuring and
     asset related charges - net ($9 million)

2025 Restructuring Program
     implementation costs

(31)

(24)

(0.03)

Cost of sales ($30 million);

     SG&A ($1 million)

Litigation related charges, awards and
     adjustments 5

69

56

0.08

Sundry income (expense) - net

Loss on early extinguishment of debt

(53)

(41)

(0.06)

Sundry income (expense) - net

Total significant items

$      (84)

$      (63)

$   (0.09)

Operating results (non-GAAP)

$      726

$      521

$     0.71

Significant Items Impacting Results for the Three Months Ended Sep 30, 2025

In millions, except per share amounts (Unaudited)

Pretax 1

Net 

Income 2

EPS 3

Income Statement Classification

Reported results

$       70

$       62

$     0.08

Less: Significant items

2025 Restructuring Program severance
     and related benefit costs and asset
     related charges 6

(23)

(18)

(0.02)

Restructuring and asset related charges
     - net

Implementation costs 7

(5)

(4)

(0.01)

Cost of sales ($4 million);

     SG&A ($1 million)

Net gain on divestitures and asset sale 8

110

110

0.15

Sundry income (expense) - net

Loss on early extinguishment of debt

(18)

(14)

(0.02)

Sundry income (expense) - net

Income tax related items 9

—

120

0.17

Provision for income taxes

Total significant items

$       64

$      194

$     0.27

Operating results (non-GAAP)

$         6

$    (132)

$   (0.19)

"Income before income taxes." "Net income (loss) available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes costs to achieve of $60 million and severance and related benefit costs of $9 million associated with Transform to Outperform. Relates to a gain associated with a legal matter with Nova Chemicals Corporation ("Nova"). Includes severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. Includes implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of the Company's formerly wholly owned subsidiary, Dow InfraCo, LLC. Relates to a gain on the sale of the Company's ownership interest in a nonconsolidated affiliate. Relates to a tax benefit stemming from the U.S. Tax Court's decision in Varian Medical Systems Inc. v. Commissioner and a tax basis adjustment related to the Company's consolidated infrastructure entity, Dow InfraCo, LLC.  Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Nine Months Ended Sep 30, 2026

In millions, except per share amounts (Unaudited)

Pretax 1

Net
Income 2

EPS 3

Income Statement Classification

Reported results

$   1,123

$      646

$     0.88

Less: Significant items

Transform to Outperform 4

(675)

(535)

(0.75)

SG&A ($194 million); Restructuring and

     asset related charges - net
     ($481 million)

2025 Restructuring Program asset
     related charges and exit and disposal
     costs 5

(58)

(46)

(0.06)

Restructuring and asset related charges
     - net

2025 Restructuring Program
     implementation costs

(80)

(64)

(0.08)

Cost of sales ($77 million);
     R&D ($1 million); SG&A ($2 million)

Sadara guarantee liability adjustment 6

(292)

(227)

(0.31)

Equity in losses of nonconsolidated
     affiliates

Litigation related charges, awards and
     adjustments 7

95

77

0.11

Sundry income (expense) - net

Loss on early extinguishment of debt

(53)

(41)

(0.06)

Sundry income (expense) - net

Indemnification and other transaction

     related credits 8

7

7

0.01

Sundry income (expense) - net

Total significant items

$ (1,056)

$    (829)

$   (1.14)

Operating results (non-GAAP)

$   2,179

$   1,475

$     2.02

"Income before income taxes." "Net income available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes costs to achieve of $194 million and severance and related benefit costs of $481 million associated with Transform to Outperform. Includes impairment charges related to the write-down of certain manufacturing facilities and other miscellaneous assets and exit and disposal costs associated with the Company's 2025 Restructuring Program. Includes a charge due to a change in fair value of the estimated liability associated with the Company's guarantee of Sadara's project financing debt. Relates to a gain associated with a legal matter with Nova. Relates to credits associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Nine Months Ended Sep 30, 2025

In millions, except per share amounts (Unaudited)

Pretax 1

Net
Income 2

EPS 3

Income Statement Classification

Reported results

$    (963)

$ (1,080)

$   (1.53)

Less: Significant items

Restructuring, implementation and
     efficiency costs, and asset related
     charges - net 4

(51)

(39)

(0.05)

Cost of sales ($44 million);

     R&D ($1 million); SG&A ($4 million);
     Restructuring and asset related
     charges - net ($1 million); Sundry
     income (expense) - net ($1 million)

2025 Restructuring Program severance
     and related benefit costs and asset

     related charges 5

(821)

(653)

(0.92)

Restructuring and asset related charges
     - net

Implementation costs 6

(10)

(8)

(0.02)

Cost of sales ($5 million);

     SG&A ($5 million)

Net gain on divestitures and asset sale 7

213

187

0.26

Sundry income (expense) - net

Litigation related charges, awards and

     adjustments 8

42

33

0.05

Cost of sales

Loss on early extinguishment of debt

(78)

(62)

(0.09)

Sundry income (expense) - net

Indemnification and other transaction
     related costs 9

(115)

(93)

(0.13)

Cost of sales ($98 million); Sundry
     income (expense) - net ($17 million)

Income tax related items 10

—

(33)

(0.05)

Provision for income taxes

Total significant items

$    (820)

$    (668)

$   (0.95)

Operating results (non-GAAP)

$    (143)

$    (412)

$   (0.58)

"Income (loss) before income taxes." "Net income (loss) available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings (loss) per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes restructuring implementation and efficiency costs associated with the Company's 2023 Restructuring Program and the write-down of certain manufacturing assets, partially offset by an asset related credit adjustment. Includes severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. Includes implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of the Company's formerly wholly owned subsidiary, Dow InfraCo, LLC. Relates to a gain on the sale of the Company's soil fumigation product line and a gain on the sale of the Company's ownership interest in a nonconsolidated affiliate. Includes a gain associated with the reassessment of liabilities for certain accrued legacy agricultural products groundwater contamination matters, partially offset by the settlement of a separate claim related to water storage district legacy groundwater contamination matters. Includes a charge related to an arbitration settlement agreement for historical product claims from a divested business and charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. Relates to valuation allowances on deferred tax assets in certain foreign jurisdictions, partially offset by a tax benefit stemming from the U.S. Tax Court's decision in Varian Medical Systems Inc. v. Commissioner and tax basis adjustments related to the Company's consolidated infrastructure entity, Dow InfraCo, LLC. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Reconciliation of Free Cash Flow

Three Months Ended

Nine Months Ended

In millions (Unaudited)

Sep 30,
2026

Sep 30,

2025

Sep 30,
2026

Sep 30,
2025

Cash provided by operating activities - continuing operations (GAAP)

$     1,839

$     1,130

$     4,287

$       764

Capital expenditures

(706)

(564)

(1,841)

(1,911)

Free Cash Flow (non-GAAP)

$     1,133

$       566

$     2,446

$   (1,147)

Reconciliation of Cash Flow Conversion

Three Months Ended

In millions (Unaudited)

Dec 31,
2025

Mar 31,

2026

Jun 30,

2026

Sep 30,

2026

Cash provided by operating activities - continuing operations (GAAP)

$    298

$  1,124

$  1,324

$  1,839

Net income (loss) (GAAP)

$(1,477)

$   (445)

$    802

$    525

Cash flow from operations to net income (GAAP) 1

N/A

N/A

165.1 %

350.3 %

Cash flow from operations to net income - trailing twelve months (GAAP) 2

N/A

Operating EBITDA (non-GAAP)

$    741

$    873

$  2,312

$  1,553

Cash Flow Conversion (Cash flow from operations to Operating
EBITDA) (non-GAAP)

40.2 %

128.8 %

57.3 %

118.4 %

Cash Flow Conversion - trailing twelve months (non-GAAP)

83.7 %

Cash flow from operations to net income is not applicable for the fourth quarter of 2025 and first quarter of 2026 due to a net loss for the period. Cash flow from operations to net income - trailing twelve months is not applicable due to a net loss for the trailing twelve months period. SOURCE The Dow Chemical Company

Micron Technology (MU +1.96%) is playing a key role in the artificial intelligence (AI) story, and that's made it one of this year's most popular stocks. This company makes the memory and storage that are essential to the use of AI. This has supercharged earnings growth, and the stock price has taken off as investors recognized this company's position in a high-potential market. The AI market is expected to soar into the trillions by the early 2030s, and Micron is well placed to benefit.

Still, the stock has advanced more than 1,000% over three years, and in 2026 it's heading for a gain of more than 200%. With this in mind, you may be wondering if there's much fuel left in the tank. Is Micron a millionaire-maker stock after its 2026 run? Let's find out.

Image source: Getty Images.

A traditionally cyclical market First, let's consider Micron's path so far. This tech giant has been around for decades, serving the needs of tech companies with its products. This market has always been cyclical, with memory chip demand ebbing and flowing over the years. That has resulted in some dips and peaks in revenue, but over time, this tech giant has grown its relationships with customers and its earnings. So, it's a well-established memory player that investors can count on over time -- even if demand slows on occasion, this pattern is expected.

MU Revenue (Annual) data by YCharts

The AI boom represented a fresh growth opportunity for Micron. The company's memory chips have been useful throughout the AI story, as memory and storage are needed for model training as well as the application of AI to real-world problems. But revenue growth truly took off in recent quarters as the agentic AI opportunity emerged.

Agentic AI involves AI addressing an issue on behalf of a human and taking various steps to complete tasks. This represents an almost limitless opportunity for memory and storage companies, as these chips are needed on an ongoing basis for AI agents to operate. By comparison, training needs the memory capacity once, as the training is happening. So agentic AI represents a much bigger growth opportunity for memory makers like Micron. This is great news, because agentic AI is expected to be used more and more as AI is applied in the real world.

MU Micron Technology$913.67+$17.60 (+1.96%)

NASDAQ · As of 4:00 PM ET 10/21/26

Micron's revenue soars to a record Demand today for Micron's chips has taken off, and the only thing holding back growth to a certain degree is supply. Even with this headwind, Micron's revenue in the recent quarter soared more than 370% to a record of $54 billion, and the company expects the current fiscal year to be even stronger than the recently completed 2026 fiscal year.

Still, the supply situation may greatly improve over the next couple of years, and that could weigh on prices. Meanwhile, any slowdown in the AI infrastructure build-out also could hurt Micron. The industry has been known to be cyclical, as I said above, so after such gains, a dip could be on the horizon.

With all of this in mind, is Micron a millionaire-maker stock after its recent performance? A look into the past shows us that if we had invested $10,000 in Micron three years ago, the value of that investment would now be about $135,000. That's fantastic, but it's far from $1 million. So Micron's gain would have to be extremely big, and you would have to invest a huge amount to make it to $1 million. Investors shouldn't make this kind of bet because it's much too risky, and an easier path to wealth exists. This path involves diversifying across a broad range of quality stocks and holding on for at least five to 10 years.

Micron on its own is unlikely to make you a millionaire. But as part of a basket of great stocks that you're willing to own for a number of years, this tech giant could help do the job -- and potentially set you off on the path to millions.

SummaryWeyerhaeuser offers discounted access to high-quality forest assets and cyclical industrial recovery, with a Buy rating and a $23.07 weighted target price.Dividend yield stands at 4.3%, but recurring income is not fully covered; dividend sustainability depends on improved free cash flow and industrial recovery.Valuation is based on a conservative sum-of-the-parts, with regional land values, normalized industrial EBITDA, and prudent adjustments for liabilities and project risks.Key monitoring items include realized prices, industrial margin, Monticello project expenditure, and cash conversion, as recovery is needed to secure long-term dividend coverage. Darinburt/iStock via Getty Images

Thesis in a Nutshell Weyerhaeuser Company (WY) is providing access to a large portfolio of high-quality forest assets together with the possibility of industrial recovery at a price of $19.61, which represents a clear discount; yet, since the

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Societe Generale analysts observe that Gold has formed an interim low near $4,065 and is consolidating in a narrow range. They flag resistance at $4,200/4,225 and warn that failure to break higher could trigger a deeper correction toward the June low at $3,960/3,940 and projections near $3,830, with $4,065 acting as initial support.

Consolidation with downside potential "Gold carved out an interim low near $4,065 earlier this month and has since evolved within a narrow consolidation."

"The upper boundary of this range at $4,200/4,225 represents a short-term resistance zone."

"Failure to overcome this hurdle could denote the risk of a deeper pullback."

"The lower boundary of the consolidation near $4,065 serves as the first support."

"A break below this may extend the decline towards the June low at $3,960/3,940 and projections near $3,830."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Crypto infrastructure company Ripple on Thursday said custody is no longer just a vault, but an operational layer for digital finance. As crypto-tradFi convergence grows, financial institutions are betting big not only on crypto assets such as Bitcoin and XRP but also on underlying services such as custody.

Ripple Positions Custody as Core to Digital Finance With growing focus on governance, interoperability, and integration, digital asset custody is becoming a foundational operating layer of digital finance, according to a report from Boston Consulting Group (BCG) and commissioned by Ripple.

The Beyond Safekeeping: Custody as the Operating Layer Beneath Digital Finance report found that more than 30% of digital assets, excluding holdings on centralized exchanges, are now held through institutional custody models. This share is continuing to grow amid increased demand.

Under MiCA and the GENIUS Act, security and key management have now become requirements. Institutions now see governance, policy controls, interoperability across networks, and integration with existing financial infrastructure when selecting custody providers.

Real custody is the engine running the whole financial system, now powering tokenized assets, instant settlement, and cross-border transactions.

Digital asset custody is major for tokenized real-world assets, stablecoin issuance, payments, treasury, lending, and collateral management. This shifts the business case for custody to broader value creation.

Beyond custody to value creation. Makes Ripple’s acquisitions make more sense if there is a demand for custody operating as a layer for digital finance, covering tokenisation, payments, treasury, lending and use of digital assets as collateral.
It is amazing to hear that 30% and… https://t.co/roW1P0k54O

— bill morgan (@Belisarius2020) October 22, 2026

How Institutions Can Boost Profits BCG estimates that a regional bank with a $200-300 billion balance sheet could improve its profit and loss by up to $100 million with the right custody decisions. Major institutions including Morgan Stanley, Citi, and BNY are already building or expanding their own custody capabilities.

Moreover, institutions can use custody models such as Wallet-as-a-Service. It is gaining traction among fintechs focused on retail and payments. Meanwhile, larger banks are increasingly licensing self-custody technology and building products on top of it.

Ripple offers integrated crypto infrastructure services. This combines custody with settlement assets, payment rails, treasury, and execution to reduce the need for multiple separate integrations. Multi-custody orchestration behind a common control layer is also becoming a market standard.

As CoinGape reported earlier, Ripple partnered with Meritz Securities to bring institutional custody and tokenization to South Korea’s capital markets. With increasing institutional interest amid regulatory clarity and tradFi-focused blockchain improvements, the demand for custody will continue to grow to safeguard digital assets.

Icahn Enterprises (NASDAQ:IEP – Get Free Report) will likely be issuing its Q3 2026 results before the market opens on Thursday, October 29th. Analysts expect the company to post earnings of $0.09 per share and revenue of $2.33 billion for the quarter. Interested persons can check the company’s upcoming Q3 2026 earnings report page for the latest details on the call scheduled for Wednesday, November 4, 2026 at 10:00 AM ET.

Icahn Enterprises (NASDAQ:IEP – Get Free Report) last released its earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.63). Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.04 billion.

Icahn Enterprises Stock Down 4.1% IEP stock opened at $6.15 on Thursday. Icahn Enterprises has a 12 month low of $6.11 and a 12 month high of $9.32. The firm has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $7.34. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.87 and a quick ratio of 2.87.

Icahn Enterprises Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Monday, August 17th were given a $0.50 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 32.5%. Icahn Enterprises’s payout ratio is -270.27%. Wall Street Analyst Weigh In Separately, Weiss Ratings cut Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

Check Out Our Latest Stock Report on Icahn Enterprises

(Get Free Report)

Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.

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EUR/CAD extends its losing streak for the third successive day, trading around 1.5750 during European hours on Thursday. The currency cross has depreciated as the commodity-linked Canadian Dollar (CAD) gained strength, driven by a sharp rally in crude oil prices. Energy markets surged following a drone attack on Saudi Aramco’s Shaybah oil field that left two dead, sharpening geopolitical tensions in the Middle East and renewing fears over global supply disruptions.

Compounding geopolitical strains in the region, Iranian Foreign Minister Abbas Araghchi stated that the United States must dismantle its naval blockade and demonstrate a genuine commitment to a diplomatic resolution. Araghchi affirmed Tehran's readiness to re-engage in negotiations provided Washington offers concrete evidence of a sincere effort to secure a permanent and equitable end to the conflict.

Meanwhile, Eastern European tensions have intensified as Ukraine launched a series of large-scale drone strikes against critical Russian oil infrastructure. The military campaign signals Kyiv's clear intent to disrupt Moscow's planned expansion of diesel exports, which had been arranged under a recent agreement between Presidents Trump and Putin.

Strategists at Danske Bank observe that the latest move lower in the Euro has been primarily a sentiment-driven story, stressing that “the decline in the single currency is driven by the combination of high energy prices and EUR-pessimism on the back of French debt worries.” They note that these factors have reinforced existing caution toward the single currency, keeping investors wary of adding Euro exposure despite the absence of a clear directional catalyst from broader markets.

Eurozone tightening shifts to markets as ECB weighs three-pronged responseEconomists at ING argue that, with markets effectively tightening financial conditions amid the French fiscal-driven sell-off in Eurozone bonds, the onus is shifting back to policymakers. According to the bank, “given the challenges of justifying the activation of TPI at present, we expect the ECB to adopt a three-pronged approach to address the French crisis,” combining a more dovish communication on rates, adjustments to its balance sheet plans and, if needed, targeted use of its existing backstop tools.

Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.

USDEURGBPJPYCADAUDNZDCHFUSD-0.08%-0.15%-0.69%-0.20%0.10%0.12%-0.48%EUR0.08%-0.08%-0.62%-0.16%0.21%0.22%-0.42%GBP0.15%0.08%-0.53%-0.08%0.27%0.29%-0.33%JPY0.69%0.62%0.53%0.47%0.78%0.77%0.20%CAD0.20%0.16%0.08%-0.47%0.32%0.34%-0.26%AUD-0.10%-0.21%-0.27%-0.78%-0.32%-0.00%-0.58%NZD-0.12%-0.22%-0.29%-0.77%-0.34%0.00%-0.56%CHF0.48%0.42%0.33%-0.20%0.26%0.58%0.56% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

New York, New York--(Newsfile Corp. - October 22, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Hims & Hers Health, Inc. ("Hims & Hers" or the "Company") (NYSE: HIMS) on behalf of investors that purchased or otherwise acquired Hims & Hers securities between August 4, 2025 and July 29, 2026 (the "Class Period").

CLICK HERE TO JOIN THE CASE

If you are an investor in Hims & Hers and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 2, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On July 29, 2026, the Federal Trade Commission ("FTC"), the People of the State of California through Los Angeles County Counsel and the Utah Division of Consumer Protection sued Hims & Hers in the Northern District of California. According to the FTC, the action alleges that Hims & Hers fails to clearly disclose that it charges consumers for prescriptions almost immediately after they submit an intake form, despite telling consumers that they will be able to consult with a medical provider to find a treatment that is "right for them." The FTC also alleges that the company has made it difficult for consumers to cancel subscriptions and misled consumers about keeping their health information private. The FTC alleges that Hims shared consumers' health information with Meta, Snap and other third parties.

Following this news, the price of Hims & Hers stock fell $4.32 per share, or 14.73%, to close at $25.00 per share on July 29, 2026.

Based on the FTC allegations, the complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts to investors, including that (1) the Company shared consumers' health information with third-party advertising platforms; (2) the Company charges consumers for prescriptions almost immediately after they submit an intake form, despite telling consumers that they will be able to consult with a medical provider to find a treatment that is "right for them;" (3) the foregoing conduct subjected the Company to regulatory scrutiny; (4) as a result of the foregoing, the Company was reasonably likely to incur fees and penalties; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

CLICK HERE TO LEARN MORE

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this Notice, your rights, or your interests, please contact:

Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.

https://www.kaplanfox.com/case/hims-hers-health-inc-class-action-investigation-learn-more-now/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320209

Source: Kaplan Fox & Kilsheimer LLP

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Calgary, Alberta--(Newsfile Corp. - October 22, 2026) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian and Canadian hydrocarbon basins, is pleased to provide an update on operational activity at the Icaco field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.

Production

Current total corporate production is over 6,500 boe/d, including production from Icaco 8 (IC-8) and Icaco 7 (IC-7). This is a record high production rate for the Company and reflects recent drilling successes from the Icaco pad. Arrow believes it can continue to grow production from its prospect-rich inventory.

Cash Balance

As of October 1, 2026, the Company's estimated cash balance is over US$28 million. The Company continues to enjoy a strong balance sheet while growing production and associated cash balance.

Icaco-8 Well

The Icaco 8-ST-1 well was spud September 21, 2026 and reached total depth October 3, 2026. The well was drilled to a measured depth of 11,000 feet (7,384 feet total vertical depth). The IC-8-ST-1 well encountered 72 feet MD ( 23 feet TVD) of net pay in the Carbonera C7 formation ("C7"), 20 feet MD ( 6 feet TVD) of net pay in the Guadalupe Formation, 30 feet MD (10 feet TVD) of net pay in the Lower Gacheta, and 85 feet MD (30 feet TVD) of net pay in the Ubaque formation.

The IC-8 well was brought on production October 12, 2026, and is currently producing from the Carbonera C7 formation at a restricted rate of approximately 1,204 BOPD gross (602 BOPD net), with a 27/128 choke and 32 Hz pump frequency. The oil quality is 28.2° API and there is a 33% water cut. The well is continuing to clean up.

Icaco-7 Well

The Icaco 7 well was spud September 1, 2026 and reached total depth September 7, 2026. The well was drilled to a measured depth of 13,000 feet (7,347 feet total depth). The IC-7 well encountered 86 feet MD (15 feet TVD) of net pay in the Carbonera C7 formation ("C7") and 256 feet MD ( 57 feet TVD) of net pay in the Ubaque formation.

The IC-7 well was brought on production September 20, 2026, and is currently producing from the Ubaque formation at a restricted rate of approximately 248 BOPD gross (124 BOPD net), with a 20/128 choke and 44 Hz pump frequency. The oil quality is 13.2° API and there is a 31% water cut.

Forward Drilling Plans

Icaco HZ9 (IC-HZ9) well was spud October 13, 2026, and completed drilling October 20, 2026. IC-HZ9 is a horizontal well targeting the Carbonera C7 formation. This is the first horizontal well in the Carbonera reservoir in the Tapir Block and to date the well appears to have 950 feet of horizontal oil pay (measured depth).

Tapir Extension

Arrow continues constructive discussions with regulatory bodies on the Tapir extension. The recent Presidential election resulted in a forward looking Government that is pro-business. In line with President De La Espriella's vision to increase Colombia's oil and gas development, Arrow is looking forward to being a part of the President's vision.

Marshall Abbott, CEO of Arrow, commented:

"Arrow is very proud to surpass the 6,500 boe/d threshold. The additional production from drilling and workovers highlights the continued operational success the Company has had on the Tapir block. The multi-zone quality of the Icaco discovery, and its commensurate production rates, have surpassed initial expectations."

"The IC-8 well illustrates the excellent results that are possible in all three producing zones at Icaco. The Company has built 16 well cellars at Icaco and is continuing to drill Carbonera C7, Gacheta and Ubaque wells on the Icaco pad."

"The Company continues to experience strong netbacks in this high oil price environment. This adds significant value and materially strengthens our balance sheet. We look forward to updating our shareholders on further progress at Icaco over the coming months."

For further information, contact:   Arrow Exploration
Marshall Abbott, CEO+1 403 651 5995Joe McFarlane, CFO+1 403 818 1033

Canaccord Genuity 
(Nominated Adviser and Joint Broker)
Henry Fitzgerald-O'Connor+44 (0)20 7523 8000James Asensio Rory Blundell George Grainger   Auctus Advisors 
(Joint Broker)
Jonathan Wright +44 (0)7711 627449Rupert Holdsworth Hunt

Hannam & Partners
(Joint Broker)
Leif Powis+44 20 7907 8500Samuel Merlin
  Camarco 
(Financial PR)
Owen Roberts +44 (0)20 3781 8331Rebecca Waterworth
Kirsty Duff About Arrow Exploration Corp.

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio of premier Colombian oil assets that are underexploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. By way of a private commercial contract with the recognized interest holder before Ecopetrol S.A., Arrow is entitled to receive 50% of the production from the Tapir block. The formal assignment to the Company is subject to Ecopetrol's consent. Arrow's seasoned team is led by a hands-on executive team supported by an experienced board. Arrow is listed on the AIM market of the London Stock Exchange and on TSX Venture Exchange under the symbol "AXL".

Forward-looking Statements

This news release contains certain statements or disclosures relating to Arrow that are based on the expectations of its management as well as assumptions made by and information currently available to Arrow which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Arrow anticipates or expects may, could or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "continue", "expect", "opportunity", "plan", "potential" and "will" and similar expressions. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Arrow, including without limitation, Arrow's evaluation of the impacts of COVID-19, the potential of Arrow's Colombian and/or Canadian assets (or any of them individually), the prices of oil and/or natural gas, and Arrow's business plan to expand oil and gas production and achieve attractive potential operating margins. Arrow believes the expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations, and assumptions will prove to be correct.

The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person's Statement

The technical information contained in this announcement has been reviewed and approved by Nilanjan Ganguly, Chief Geophysicist of Arrow Exploration Corp. Mr. Ganguly is a member of the Canadian Society of Petroleum Geophysicists, holds a Masters of Science in Geophysics from the University of Victoria and has over 22 years' experience in the oil and gas industry.

This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Glossary

API - American Petroleum Institute gravity, a measure of the density of petroleum liquids

BOE/D - Barrels of oil equivalent per day

BOPD - Barrels of oil per day

Hz - Hertz

MD - Measured depth

Net pay - The thickness of reservoir containing economically producible hydrocarbons

TVD - True vertical depth

Water cut - The proportion of total produced liquids comprising water

NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320305

Source: Arrow Exploration Corp.

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The single most important thing Boeing (BA +0.95%) can do to turn its business around is improve the delivery rate on its most important aircraft, the narrow-body 737 MAX. Given that increasing production has always been a key driver of profit margin expansion (unit costs tend to fall as production increases), it will increase earnings and cash flow for Boeing. In addition, improving 737 MAX production will positively impact the aerospace supply chain built around the company.

Why Boeing's suppliers are set for a strong 2027
The aerospace giant is traditionally the single largest U.S. exporter (dollar value) and can account for a couple of percentage points of U.S. exports. As such, improving 737 MAX production is a needle mover for the U.S. economy.

However, it's a gauge shaker for the supply chain, and arguably no bigger impact than on the company that makes the sole engine option for the 737 MAX, namely the GE Aerospace (GE -1.33%) and Safran joint venture CFM International.

$192.28+$1.81 (+0.95%)

NYSE · As of 4:00 PM ET 10/21/26

The good news for both companies is that Boeing is ramping up production. However, Boeing CEO Kelly Ortberg told investors in September at a Morgan Stanley conference that it had not yet stabilized production at 47 a month and it had "probably taken us a little bit longer than what I had anticipated maybe when we talked at the earnings call" in July.

That said, Ortberg also noted that "The supply chain is in really good shape, including CFM on the engines, for our rate ramps on 737," and the issue appears to be related to the wings that Boeing produces itself.

As such, don't panic if you are a GE Aerospace investor; this doesn't appear to be an issue with CFM's ability to produce the LEAP engines for the Boeing 737 MAX, and hopefully Boeing will announce it's still on track to hit its next target of 52 a month by the end of the year. Ortberg also noted that "once we get to 52 and 57, that's when you're going to see the supply chain more aligned with us relative to inventories."

Putting this together in plain English, when Boeing moves to a rate of 52 a month and then to 57 a month, its suppliers' earnings (revenue will be recognized) and cash flow (they can now produce closer to "just-in-time") should improve significantly as Boeing will have cleared the pre-built inventory from its suppliers.

Bottom line: Improving 737 MAX production not only benefits suppliers' sales opportunities; it also means (based on Ortberg's comments) that suppliers' revenue and cash flow will receive a boost in 2027 as the production rate ramps up on the 737 MAX.

Image source: Boeing.

Four companies set to benefit
That view is supported by Wall Street estimates for the following Boeing suppliers.

Company

Main Connection to Boeing

EPS Growth in 2027

EPS Growth in 2028

GE Aerospace

LEAP engines (CFM) for the 737 MAX, engines for the 787 Dreamliner

14.9%

14.2%

Howmet Aerospace (HWM -1.64%)

Castings, fasteners, and hardware for the LEAP engine and the 737 MAX

21.7%

16%

Hexcel (HXL -1.62%)

Advanced composite carbon fiber materials

30.3%

24.2%

Woodward (WWD +0.33%)

Fuel system, air management system, and actuation hardware for the LEAP

14.3%

18.2%

Data source: Company presentations. S&P Global Market Intelligence.

GE Aerospace actually suffers in the near term when LEAP engines ramp up because aircraft engines tend to be loss-making. Still, more engine deliveries translate into lucrative long-term aftermarket revenue for aircraft engine manufacturers. Hexcel is primarily an original equipment manufacturer (OEM), as there's little aftermarket demand for composites; therefore, increasing aircraft production at Airbus and Boeing is its key revenue driver.

Image source: Getty Images.

Woodward and Howmet are both OEM and aftermarket companies, and they stand to substantially benefit from increased 737 MAX production, as they can fully take advantage of capital investments made to build out their production capacity in preparation for the 737 MAX production ramp. Similarly, the reduction in inventory that Ortberg referred to means that companies like Howmet and Woodward won't need to tie up cash in equipment inventory that Boeing is slow to use in production.

Whichever way you look at it, these four stocks have plenty of potential to outperform next year.

7 hours ago

Lighter founder and CEO Vladimir Novakovski stated during the Q3 investor meeting: "We are currently pursuing licenses as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). We have spent extensive time communicating with staff at the U.S. Commodity Futures Trading Commission (CFTC) to align with all its core principles. Many of these principles already have clear correspondences with how Lighter implements them on-chain. For other principles, we have developed entirely new approaches that are unprecedented for regulators, and they are now investing significant time engaging with us to understand how these work. Our next plan is to formally submit these license applications next month. Regulators then have a maximum of 280 days to review them. Since we have completed all this preparatory work, we believe the subsequent process will go smoothly. We are very much looking forward to obtaining these licenses in the U.S. and opening our platform to the American market—not for retail users, but for institutional clients." Earlier, LIT saw a price drop amid news that Robinhood launched perpetual contracts in the U.S. using Bitstamp. At the time, Robinhood CEO Vlad Tenev told reporters that the decision not to select Lighter was due to regulatory structure. Novakovski’s remarks at the investor meeting have reignited community speculation that Lighter could collaborate more closely with Robinhood once it becomes compliant. According to HTX market data, driven by these remarks, LIT rose as much as 15% in 24 hours and is currently trading at $3.76.

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The Pound-Euro could remain supported if BoE Governor Andrew Bailey reinforces rate hike expectations, while weaker Eurozone confidence may pressure the Euro.
The Pound Euro (GBP/EUR) exchange rate rose to a fresh 17-month high on Thursday following the UK’s latest inflation figures.

At the time of writing, GBP/EUR was trading at €1.1940, up 0.3% on the day and at its highest level since May 2025.

Latest — Exchange Rates:

Pound to Euro (GBP/EUR): 1.192398 (+0.10%)

Pound to Dollar (GBP/USD): 1.3395 (+0.17%)

Euro to Dollar (EUR/USD): 1.123367 (+0.06%)

DAILY RECAP:

The Pound (GBP) attracted fresh support on Wednesday after the UK’s latest consumer price index fuelled Bank of England (BoE) interest rate hike bets.

September’s CPI figures showed headline inflation accelerating from 3.1% to 3.5%, above forecasts for 3.4%. Meanwhile, core inflation rose from 2.6% to 2.8%, also above expectations.

Paired with Tuesday’s unexpected drop in UK unemployment, the CPI figures boosted expectations that the BoE will raise interest rates four times over the next year, which supported Sterling.

However, GBP’s upside was capped by above-forecast government borrowing in September, which stoked fiscal concerns ahead of next week’s Autumn Budget.

Meanwhile, the Euro (EUR) continued to face pressure as protests and rioting in France and Italy, alongside unrest elsewhere in Europe, fuelled concerns about political and social stability across the region.

These tensions added to existing worries about France’s debt crisis, with mounting concerns over the country’s fiscal outlook and bond market pressures threatening to spill over into the wider Eurozone. Fears of contagion continued to weigh on the single currency, as investors remained wary that France’s financial difficulties could spread to other heavily indebted member states.

Near-Term GBP/EUR Forecast: BoE Comments to Prop Up the Pound?
Looking forward, new data from the Confederation of British Industry (CBI) could impact the Pound on Thursday. A deepening contraction in industrial orders and a decline in business confidence could put pressure on the Pound.

Sterling may attract support later in the session amid a speech from BoE Governor Andrew Bailey. If the Bank of England chief signals that interest rate hikes are on the horizon, demand for GBP could increase.

As for the Euro, the Eurozone’s preliminary consumer confidence index for October is out in the afternoon. EUR may stumble if the release shows a deterioration in morale this month, as expected.

Exchange Rates UK Research
Our currency coverage draws on live market data, official economic releases and published bank research.

Delivers dedicated 256 NVIDIA Vera CPU capacity for agent sandboxes, complementing NVIDIA Vera Rubin NVL72 with common DCBBS infrastructure with third-generation NVIDIA MGX racks and battery backup units Integrates NVIDIA Vera CPUs and BlueField™-4 DPUs with the NVIDIA Open Agent Safety Platform and OpenShell Reference Architecture for secure, high-density agentic AI orchestration and continuous monitoring and policy enforcement Leverages Supermicro DCBBS to deliver a complete, integrated data center solution—from liquid-cooled rack architecture and power infrastructure to networking, cooling, and deployment services—enabling customers to build and scale full AI factories for agentic workloads , /PRNewswire/ -- Super Micro Computer, Inc (NASDAQ: SMCI), an AI, Enterprise, Storage, and 5G/Edge Total IT Solution Provider featuring Data Center Building Block Solutions® (DCBBS), today announced the NVIDIA Vera CPU rack as the latest addition to the DCBBS portfolio. The NVIDIA Vera CPU rack delivers dense CPU capacity for agentic AI, reinforcement learning (RL) workloads, and data processing, supporting 22.5K sandboxes at liquid-cooled AI factory scale. Complementary to the now shipping Supermicro NVIDIA Vera Rubin NVL72, the 100% liquid-cooled CPU rack can be used either standalone or alongside NVIDIA Vera Rubin NVL72 in AI factories, providing clusters with high-density CPU compute, designed to address the rapidly escalating requirements of agentic AI.

256 CPU Liquid-Cooled NVIDIA Vera CPU Rack for Agentic AI "As agentic AI transforms data center requirements, Supermicro is extending its DCBBS portfolio with fully integrated infrastructure," said Charles Liang, president and CEO of Supermicro. "For customers seeking air-cooled deployments, Supermicro's NVIDIA Vera CPU portfolio includes air-cooled 1U and 2U systems, in addition to rack-scale liquid cooling options. Together with NVIDIA, we help accelerate time to deployment with a common purpose-built architecture for secure, scalable agentic AI."

To watch a video summary of this release, click here, and for the latest information on Supermicro solutions featuring NVIDIA Vera Rubin, click here.

"As enterprises scale agentic AI and reinforcement learning, supporting thousands of concurrent agent workflows requires a new class of high-density CPU infrastructure," said Chris Marriott, vice president of enterprise platforms at NVIDIA. "NVIDIA Vera CPUs and BlueField-4 DPUs, integrated with Supermicro's liquid-cooled DCBBS architecture, give customers the dedicated compute and hardware-based security to scale the execution of agentic workloads across their AI factories."

Built to power the age of Agentic AI

Agentic AI and RL workloads represent an evolution from linear inference chains to branched, and often looped, execution with many more intermediate steps that depend on CPU availability and performance. GPUs remain the primary engine for generating tokens, code, and queries, while CPU-based sandbox environments execute actions, evaluate results, run tools, and orchestrate workflows. At the scale of modern AI factories, with hundreds or thousands of deployed GPUs, dedicated CPU compute is needed to host thousands or millions of parallel execution environments for agents.

The NVIDIA Vera CPU rack from Supermicro integrates 256 NVIDIA Vera CPUs, delivering 22,528 cores and 45,056 threads and supporting up to 22,500 concurrent agent sandboxes per rack. NVIDIA BlueField-4 DPUs provide high-performance networking and in-silicon security, and Supermicro's DLC-2 direct liquid cooling stack enables a 100% liquid-cooled rack built for these workloads.

Common Infrastructure with Third-Generation MGX Racks and Battery Backup Units

The Vera CPU rack uses the third-generation NVIDIA MGX design, part of the DLC-2 stack, creating a common infrastructure architecture with Vera Rubin NVL72 that supports standardized deployment. NVIDIA MGX is a modular reference architecture for accelerated computing, helping system builders design future-compatible systems faster, reducing costs, accelerating time to market, and improving ROI. To power the compute racks, customers can choose either a traditional AC feed to compute rack or an 800 VDC sidecar power rack, which enables the use of battery backup units (BBU) in place of a conventional UPS for power loss protection. This approach helps free data center floor space, can improve end-to-end power conversion efficiency, and lowers CapEx and OpEx.

Prioritizing Secure Agentic AI with OpenShell Reference Architecture

The NVIDIA Vera CPU rack from Supermicro natively supports NVIDIA OpenShell Reference Architecture to continuously monitor and govern agent behavior, extending Supermicro's support for secure AI agents. NVIDIA OpenShell runs on NVIDIA Vera CPUs to apply least-privilege, policy-based controls to agents at runtime, while NVIDIA Sentry runs on NVIDIA BlueField-4 DPUs as an out-of-band monitor that enforces policy, provides attested telemetry, and can quarantine an agent that moves outside its permitted boundaries in milliseconds. Together, these software solutions can help companies retain observability and auditability in production agentic systems without consuming host CPU resources.

An Optional Companion to Vera Rubin NVL72

The Vera CPU rack is designed to work alongside Vera Rubin NVL72 and is equally suited to standalone deployment. For customers building on the Supermicro DCBBS Blueprints for NVIDIA Vera Rubin NVL72, Supermicro offers an optional design that pairs Vera Rubin NVL72 racks with Vera CPU racks, with a defined network topology built on NVIDIA Spectrum-X™ Ethernet, hot-aisle containment layouts, and redundant in-row coolant distribution units (CDUs) and rear door heat exchangers from the DLC-2 stack. A single Supermicro team supports site survey, design, L11 and L12 integration and testing, on-site deployment, and ongoing support, whether the Vera CPU rack is deployed with Vera Rubin NVL72 or on its own.

Flexible Deployment Beyond NVIDIA Vera Rubin NVL72

The Vera CPU rack also operates as a standalone CPU platform. Standalone deployments can accelerate agent orchestration and sandboxing, database operations, cluster management, and schedulers such as Slurm and Kubernetes, data analytics, and large-scale software build pipelines.

Availability

The Supermicro NVIDIA Vera CPU rack is available to quote now. Learn more about Supermicro's NVIDIA Vera CPU rack, and other solutions in the NVIDIA Vera Rubin platform here.

About Super Micro Computer, Inc.

Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).

Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

All other brands, names, and trademarks are the property of their respective owners.

SOURCE Super Micro Computer, Inc.

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New capabilities will help construction teams identify risks earlier, simulate real-world conditions, and protect schedules on complex projects

ORLANDO, Fla.--(BUSINESS WIRE)--Today at Groundbreak 2026, Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, announced the next phase of its collaboration with NVIDIA, bringing advanced digital twin capabilities to complex construction projects. Currently in closed beta, teams can now move seamlessly between Procore’s Model Manager and Realism Mode, powered by NVIDIA Omniverse libraries, to visualize projects in a highly-realistic 3D environment and explore how real-world conditions, such as extreme weather, could impact construction before they happen on the jobsite. By identifying potential problems earlier, teams can make adjustments before they lead to costly rework, delays, or schedule disruption.

The global economy is currently entering one of the largest infrastructure build cycles in history, fueled by trillions of dollars flowing into AI, data centers, and energy systems. Companies are projected to invest nearly $7 trillion in data center infrastructure alone by 2030. As demand accelerates, construction capacity and workforce constraints will threaten to slow the delivery of the facilities needed to power AI. Meeting that demand will require not only building faster, but building more efficiently, reducing waste, making better use of resources, and bringing better planning and predictability to complex projects.

“Construction is inherently physical, but in the future, the most successful and resilient megaprojects will be built digitally first,” said Steve Davis, president of product & technology at Procore. “As the leader in construction management software, Procore is deepening our collaboration with AI leader NVIDIA, to empower teams to visualize projects, simulate real-world conditions, and test variables before a single shovel hits the ground.”

“Building an AI factory requires thousands of decisions across power, cooling, compute, networking and physical infrastructure,” said Vladimir Troy, vice president of AI Infrastructure at NVIDIA. “NVIDIA Omniverse lets teams simulate these systems before construction begins, identify problems earlier and make better decisions before they become costly changes in the field. Together, Procore and NVIDIA are connecting simulation with project data to reduce risk and move faster from design to operation.”

The collaboration between Procore and NVIDIA advances Procore’s system of intelligence, helping construction teams see, understand, and act on connected project information. Procore’s acquisition of DroneDeploy expands what teams can see, bringing aerial and ground-based imagery together with project data to show what’s actually happening on the jobsite. Powered by NVIDIA Omniverse libraries, Procore’s digital twin capabilities help teams understand how real-world conditions and project changes could impact construction before they happen in the field. Procore AI turns that intelligence into action, helping teams identify risks, make informed decisions, and address potential issues before they become costly delays.

Together, these new technologies unlock new capabilities for construction teams, including:

Compare what was designed with what’s actually being built. Reality capture from DroneDeploy can bring real-world jobsite conditions into the digital twin, helping teams compare construction progress against the design, spot discrepancies earlier and make more informed decisions before issues compound in the field. See how one disruption could ripple through the schedule. By connecting 3D models with procurement and schedule information, teams can understand how changes such as a delayed material delivery or equipment installation could affect downstream work—giving them more time to adjust sequencing and protect critical project milestones. Test real-world scenarios before construction begins. Teams can simulate how extreme weather, sun exposure and the movement of crews and equipment could affect construction plans, helping them identify potential conflicts and make adjustments before they cause costly delays in the field. Switch, a leading designer, builder, and operator of advanced data centers and a joint customer of Procore and NVIDIA, recognizes the significant potential for 3D visualization to transform the planning and execution of complex construction projects.

“When building at the pace and scale our customers require, there is no room for surprises in the field,” said Corine Winfield, VP Data Operations at Switch. “By visualizing a project in 3D, our teams gain greater clarity into construction progress, make better-informed decisions earlier and keep complex initiatives on schedule.”

Together, Procore and NVIDIA are advancing a new era of construction intelligence, where teams can do more than visualize what’s happening on a jobsite. By combining real-world project data with AI-powered simulation, construction teams can explore what could happen next, understand the impact of critical decisions and take action before risks become costly realities.

Availability

The Procore and NVIDIA integration is currently in closed beta. Additional Procore spatial and asset capabilities, including Model Manager and Commissioning, are progressing through beta, alongside Procore’s planned integration with IBM Maximo.

To learn more, visit: procore.com/offer/demo/nvidia.

About Procore

Procore Technologies, Inc. (NYSE: PCOR) is the leading technology partner for every stage of construction. Built for the industry, Procore’s unified technology platform drives efficiency and helps mitigate risk through AI & data-driven insights and decision making. Over three million projects have run on Procore across 150+ countries. For more information, visit www.procore.com.

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As an OpenAI Advanced Partner, Insight will accelerate ChatGPT Enterprise, Codex, and AI adoption at scale through its Radius™ offerings

CHANDLER, Ariz.--(BUSINESS WIRE)--Insight Enterprises (NASDAQ: NSIT) today announced that it has been named an OpenAI Advanced Partner within the OpenAI Partner Network, reinforcing Insight's position as a provider of AI solutions for midmarket and lower-enterprise organizations seeking to accelerate AI adoption.

As part of the expanded relationship, Insight will work with OpenAI to help organizations build, deploy, and scale AI solutions responsibly and effectively. The expanded relationship reflects Insight's experience helping organizations successfully deploy and scale AI.

“Insight has built a repeatable approach that connects technology, process transformation, and workforce adoption so clients can move from pilots to production and results faster,” said Jack Azagury, Insight President and CEO. “As an OpenAI Advanced Partner, we can help more organizations deploy AI responsibly, scale across the enterprise, and realize value at speed.”

Combining OpenAI's frontier models and products with Insight's expertise in AI, cloud, data, cybersecurity, and digital transformation, the companies are addressing the data, governance, adoption, and operational challenges that often prevent AI initiatives from delivering measurable business outcomes. This work will help organizations put GPT-6 Astra to work across more of their business, using deeper reasoning and computer use to complete complex workflows and deliver finished work.

To meet growing demand, Insight is investing in a dedicated OpenAI Center of Excellence (COE) and expanding specialized capabilities across its sales, solution architecture, engineering, and forward-deployed expert teams. Through its Radius™ offerings, Insight helps its clients adopt and scale ChatGPT Enterprise, Codex, agentic solutions, and custom AI applications.

Insight supports clients across every stage of their AI journey — from strategy and governance to implementation, adoption, managed services, and continuous optimization. Insight and OpenAI will collaborate on client adoption, AI-powered service offerings, industry solutions, and joint go-to-market initiatives.

Insight's approach is informed by its own AI transformation journey, which has driven AI adoption across more than 90% of its global workforce and generated significant productivity gains. Drawing on lessons learned from deploying AI internally at scale, Insight is positioned to bring OpenAI capabilities to midmarket organizations, helping them identify high-value AI opportunities and accelerate deployment while maintaining strong governance, security, and compliance practices.

"Successful AI transformation requires both breakthrough technology and proven delivery expertise," said Colleen Kapase, Vice President of Strategic Global Partnerships and Ecosystems at OpenAI. "Insight's customer reach, technical capabilities, and focus on business outcomes make them a valuable partner for organizations adopting AI. Working together, we can help more organizations accelerate the journey from AI exploration to real-world impact.”

Learn more about the OpenAI Partner Network: https://openai.com/business/partners/

To learn how Insight can help your organization accelerate AI adoption, visit our website.

About Insight

Insight Enterprises is a leading Solutions Integrator that helps clients solve technology challenges by combining the right hardware, software, and services. We’re a global Fortune 500 technology company with a network of over 6,000 partners and experts around the world who provide access to end-to-end IT capabilities. For more than 35 years, we have delivered and optimized technology solutions for our clients efficiently, effectively, and safely. We are rated as a Great Place to Work, a Forbes World’s Best Employer, and a Fortune World’s Best Workplace. Discover more at insight.com.

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New offering takes AI agent security from discovery and governance to runtime detection and response, so security teams can see every agent, control what it can do, and stop it the moment it goes off course

MOUNTAIN VIEW, Calif. & LAS VEGAS--(BUSINESS WIRE)--SentinelOne® (NYSE: S), the AI Security leader, today unveiled Singularity™ Agentic Detection and Response (ADR), a new offering that discovers AI agents, enforces what agents are allowed to do, monitors agent behavior in depth, and detects and stops unintended and malicious activity in real time. Bringing together visibility and governance of agent activity with SentinelOne’s signature runtime behavioral prevention, detection and response, the new offering is built directly on the Singularity Platform, giving new and existing customers a battle-tested foundation to secure AI running on endpoints, cloud workloads, and the broader enterprise. Singularity ADR is the newest addition to SentinelOne’s AI Security portfolio and a direct expansion of the company’s commitment to defend the surfaces AI runs on.

Singularity ADR is being introduced today at OneCon 2026, SentinelOne’s global customer conference, and is immediately available in early access.

Securing the Agents that Power the AI Enterprise

AI agents already hold real credentials, chain tool calls, and work independently across the modern enterprise, and with Claude Code and Cowork, Codex, as well as other tools, every employee is now an agent manager. As recent high profile events have shown, the risk AI agents now carry is as likely to come from a sanctioned agent going off course as from an attacker. SentinelOne already protects the endpoint, identity, mobile, and cloud workloads where these agents run. Singularity ADR builds on that proven defense by focusing on agentic behavior and actions in runtime.

The new Singularity ADR benefits from the capabilities of SentinelOne’s fast growing product lines, SentinelOne Prompt Security and Purple, along with the modern endpoint, cloud workload and identity security capabilities already in use by over 15,000 SentinelOne customers and partners worldwide. It governs which AI agents are allowed to run and what they can reach, and blocks known-bad actions at the moment of interaction. Anything that gets past policy is judged by the same behavioral detections the Singularity Platform already runs on those surfaces, so an agent acting outside its intent is caught and stopped like any other threat.

From Agent Governance to Runtime Protection

In March, SentinelOne bolstered its AI security portfolio with the introduction of Prompt AI Agent Security to discover AI agents and govern how they connect to tools and data. Singularity ADR builds on that foundation and takes agent security to the next level, pairing agent governance with the behavioral detection and response SentinelOne runs on endpoints, cloud workloads and identities, and ties every agent action to its origin. Security teams now get one view of what an agent was asked to do and what it actually did on the system, and they can stop a single agent mid-action without halting the rest of the workflow.

What Singularity ADR Delivers

Agent and MCP inventory. Every agent, tool, skill, connector, and MCP server across endpoints, SaaS, and cloud providers, sanctioned or not, with the permissions each holds and the employees behind it. Security teams know exactly what agents exist before deciding what to allow. Multi-platform agent coverage. Goes beyond the MCP gateway into Salesforce Agentforce, Microsoft Copilot Studio, OpenAI ChatGPT workspace agents, and Anthropic Claude managed agents. Coverage follows agents wherever the business builds them. Agent Traces. Every agentic event is monitored and sent to Singularity Data Lake so it can be visualized, retained, searched, and used in dashboards or detection rules. Unified Storyline. ADR event behavior is integrated with traditional EDR behavior in one execution graph, showing which AI components led to a process before it ran: the user request, the AI assistant, the MCP server that supplied the tool, and the file or process that followed. Analysts see the full chain in one place instead of piecing it together manually. Policy and execution governance. Allow and block controls for which agents run, who uses them, and what they can reach, with approval workflows for high-risk tools. In-line prevention. Blocks prompt injection, jailbreaks, credential exfiltration, and tool poisoning before the action executes. Intent drift detection. Flags the gap between what an agent was asked to do and what it did, so analysts stop reconstructing events by hand. Agent containment. Stops one agent mid-action while the rest of the workflow keeps running. Agentic Investigation and governed response. Automatically completes an investigation and executes a response within the boundaries set by customers. “Securing AI agents goes beyond just stopping threat actors with malicious intent. As we’ve seen all too frequently, an equal if not more prominent risk comes from unintended behavior of sanctioned agents,” said Chris Corde, Chief Product Officer of SentinelOne. “By bringing to bear SentinelOne's AI-based behavioral prevention, detection and response capabilities, we can stop rogue agentic actions using the same platform our customers already use and trust to protect their core attack surfaces.”

“AI Security has to cover everything AI touches: the surfaces it runs on, the models behind it, and now the agents acting on its behalf,” said Tomer Weingarten, co-founder and CEO of SentinelOne. “Agents hold real credentials and act without waiting for anyone. Singularity ADR brings the runtime protection that already defends tens of millions of endpoints, workloads and identities to the agents doing real work inside the enterprise, so our customers can adopt AI at full speed.”

About SentinelOne

SentinelOne (NYSE: S) is the leader in AI security, setting the standard for using AI and automation to give defenders a decisive operating advantage. Built for those who secure our world, its platform delivers unified coverage across endpoints, identity, cloud, and AI. Powered by Autonomous Security Intelligence, SentinelOne stops attacks at machine speed, reducing risk and delivering clarity and control to stay one step ahead. Headquartered in Mountain View, California, with teams worldwide, SentinelOne protects nearly one-fifth of the Fortune 500 and hundreds of Global 2000 enterprises. From Main Street to Wall Street, the world's most critical organizations trust SentinelOne with their security.

Third-Party Disclaimer

All third-party product names, logos, and brands mentioned in this publication are the property of their respective owners and are for identification purposes only. Use of these names, logos, and brands does not imply affiliation, endorsement, sponsorship, or association with the third party.

Forward-Looking Statements

This press release includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, including factors beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These and other risk factors are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the U.S. Securities and Exchange Commission (SEC), which are available free of charge on our website at http://investors.SentinelOne.com and on the SEC's website at www.sec.gov.

You are cautioned not to place undue reliance on these forward-looking statements. Any future products, functionality and services may be abandoned or delayed, and as such, you should make decisions to purchase products and services based on features that are currently available.

Any forward-looking statements made in this document are based on our beliefs and assumptions that we believe to be reasonable as of the date hereof. You should not rely upon forward-looking statements as predictions of future events. Except to the extent required by law, we undertake no obligation to update these forward-looking statements to reflect new information or future events.

Category: Investors

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SentinelOne’s AI and EDR gives security teams visibility, policy control, detection and response over AI risk now extending Lenovo’s ThinkShield security portfolio into AI governance

LAS VEGAS & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--SentinelOne® (NYSE:S), the AI Security leader, today announced an expanded partnership with Lenovo that will bring SentinelOne’s AI security to Lenovo’s ThinkShield security portfolio. The expansion builds on Lenovo's existing collaboration with SentinelOne for endpoint detection and response (EDR), by introducing visibility into and governance over AI agents and use on Lenovo ThinkShield endpoints through SentinelOne Prompt Security.

As AI moves from pilots into daily workflows, security teams are being asked to govern a growing set of AI tools, data flows, and autonomous agents. Organizations need visibility and control over how AI is used before they can adopt it at scale.

"Security leaders are being asked to enable AI across the business and answer for where company data goes," said Melissa K. Smith, SVP, Global Strategic Partnerships and Initiatives at SentinelOne. "SentinelOne Prompt Security gives them visibility into the AI tools in use and control over how data is shared, protecting against data leakage, prompt injection, and AI misuse. Through Lenovo ThinkShield, we are bringing that control to more organizations as they adopt AI."

“As AI shifts from assisting people to acting on their behalf, trust becomes even more of a priority,” said Nima Baiati, Vice President and General Manager, Commercial Software and Security Solutions, Lenovo. “Security teams need to know not only which AI tools are in use, but also how those tools interact with corporate data, devices and digital assets. SentinelOne Prompt Security adds another layer of trust into our ThinkShield ecosystem, providing the proactive AI governance and end-to-end security foundation organizations need to accelerate AI adoption safely, reduce risk, and maintain control.”

A core part of SentinelOne’s AI Security portfolio, SentinelOne Prompt Security gives security teams visibility and policy control over enterprise AI use, and now joins Lenovo’s ThinkShield security portfolio, extending the companies’ existing collaboration from endpoint security into AI governance. Through this partnership expansion, security teams can:

See AI use: Identify which AI services are in use across the workforce, including both sanctioned AI and shadow AI. Protect data: Prevent sensitive data from reaching unauthorized AI applications, so employees keep using AI while the organization controls what leaves it. Enforce policy: Apply governance policies in real time. Extend endpoint security: Build on SentinelOne’s endpoint security capabilities, already part of ThinkShield through the existing collaboration. Add expert services: Combine Prompt Security with Lenovo’s Security Services expertise to accelerate AI adoption while strengthening governance, reducing risk, and improving cyber resilience. To learn more please visit sentinelone.com/platform/securing-ai-prompt/.

About SentinelOne

SentinelOne (NYSE: S) is the leader in AI security, setting the standard for using AI and automation to give defenders a decisive operating advantage. Built for those who secure our world, its platform delivers unified coverage across endpoints, identity, cloud, and AI. Powered by Autonomous Security Intelligence, SentinelOne stops attacks at machine speed, reducing risk and delivering clarity and control to stay one step ahead. Headquartered in Mountain View, California, with teams worldwide, SentinelOne protects nearly one-fifth of the Fortune 500 and hundreds of Global 2000 enterprises. From Main Street to Wall Street, the world's most critical organizations trust SentinelOne with their security.

Third-Party Disclaimer

All third-party product names, logos, and brands mentioned in this publication are the property of their respective owners and are for identification purposes only. Use of these names, logos, and brands does not imply affiliation, endorsement, sponsorship, or association with the third party.

Forward-Looking Statements

This press release includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, including factors beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These and other risk factors are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the U.S. Securities and Exchange Commission (SEC), which are available free of charge on our website at http://investors.SentinelOne.com and on the SEC's website at www.sec.gov.

You are cautioned not to place undue reliance on these forward-looking statements. Any future products, functionality and services may be abandoned or delayed, and as such, you should make decisions to purchase products and services based on features that are currently available.

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For the quarter ended September 30, 2026

Net Revenue $3.22 billion
Net Income $352 million
Diluted Earnings per Share $0.48
Consolidated Adjusted Property EBITDA $1.12 billion
LVS Repurchased $950 million of Common Stock During the Quarter
LVS Board of Directors Announced a 20% Increase in LVS's Recurring Common Stock Dividend for the 2027 Calendar Year, Raising the Annual Dividend to $1.44 per Share ($0.36 per Share per Quarter)

, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS), the leading global developer and operator of Integrated Resorts, today reported financial results for the quarter ended September 30, 2026.

"We continued to execute our strategic objectives during the quarter in both Singapore and Macao while increasing the return of capital to shareholders, including through the repurchase of $950 million of our common stock during the quarter," said Patrick Dumont, chairman and chief executive officer.

"At Marina Bay Sands in Singapore, we delivered solid financial performance.  We remain enthusiastic about our growth prospects in Singapore both today and upon the completion of our ongoing expansion project, which will meaningfully increase our suite capacity and entertainment offerings, including through the introduction of an arena designed to be the most important entertainment venue in the region.

"We are encouraged by our progress in Macao during the quarter, with our ongoing investments in enhanced service and hospitality offerings contributing to growth in volumes across all gaming segments as compared to the prior year.

"We remain confident in our long-term strategy in both Singapore and Macao and will continue to invest in future growth.  We are fortunate to have the balance sheet and cash flow strength to support our meaningful capital investment programs, positioning our portfolio of properties to capitalize on the growing demand for premium travel and world-class entertainment experiences in the region.

"We strongly believe that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead."

Net revenue was $3.22 billion, compared to $3.33 billion in the prior year quarter.  Operating income was $618 million, compared to $719 million in the prior year quarter.  Net income in the third quarter of 2026 was $352 million, compared to $491 million in the third quarter of 2025. 

Consolidated adjusted property EBITDA was $1.12 billion, compared to $1.34 billion in the prior year quarter.

Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL increased 1.4% to $1.93 billion, compared to the third quarter of 2025.  Net income for SCL decreased 29.8% to $191 million, compared to $272 million in the third quarter of 2025.

Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $186 million for the third quarter of 2026, compared to $187 million in the prior year quarter.  Our weighted average debt balance was $15.53 billion during the third quarter of 2026, compared to $15.94 billion during the third quarter of 2025.  Our weighted average borrowing cost was 4.7% during the third quarter of 2026, compared to 4.5% during the third quarter of 2025.

Our effective income tax rate for the third quarter of 2026 was 22.5%, compared to 15.6% in the prior year quarter.  The income tax rate for the third quarter of 2026 was primarily driven by a 17% statutory rate on our Singapore operations.

Stockholder Returns
During the third quarter of 2026, we repurchased $950 million of our common stock (approximately 21 million shares at a weighted average price of $45.31).  The remaining amount authorized under our share repurchase program was $5.06 billion as of September 30, 2026.  Since the resumption of our share repurchase program in the fourth quarter of 2023 through September 30, 2026, we have repurchased 19.0% of our outstanding shares, approximately 145 million shares of our common stock at an average price of $48.03, for a total investment of $6.98 billion.  The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the company's financial position, earnings, legal requirements, other investment opportunities and market conditions.

During the third quarter of 2026, we purchased 62 million shares of SCL common stock for HKD 793 million (approximately $101 million at exchange rates in effect at the time of the transactions), increasing the company's ownership percentage of SCL to 75.56% as of September 30, 2026.

We paid a quarterly dividend of $0.30 per common share during the quarter.  Our next quarterly dividend of $0.30 per common share will be paid on November 10, 2026, to Las Vegas Sands stockholders of record on November 2, 2026.

Balance Sheet Items
Unrestricted cash balances as of September 30, 2026 were $2.86 billion.

The company has access to $4.27 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit, and $4.57 billion available under a delayed draw term loan facility that may be used to finance development and construction costs, expenses, fees and other payments related to the MBS Expansion Project.  As of September 30, 2026, total debt outstanding, net of deferred offering costs and original issue discounts, excluding finance leases, was $15.30 billion.

Capital Expenditures
Capital expenditures during the third quarter totaled $281 million, including construction, development and maintenance activities of $154 million in Macao, $121 million at Marina Bay Sands and $6 million in corporate and other.

Conference Call Information
The company will host a conference call to discuss the company's results on Wednesday, October 21, 2026, at 1:30 p.m. Pacific Time.  Interested parties may listen to the conference call through a webcast available on the company's website at www.sands.com. 

About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.  

Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.  

Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com. 

Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources.  In addition, in certain portions included in this press release, the words "anticipates," "believes," "can," "continues," "estimates," "expects," "goals," "intends," "looks forward to," "may," "opportunities," "plans," "positions," "remains," "seeks," "should," "targets," "will," "would" and similar expressions, as they relate to our company or management, are intended to identify forward-looking statements.  Although we believe these forward-looking statements are reasonable, we cannot assure you any forward-looking statements will prove to be correct.  These statements represent our expectations, beliefs, intentions or strategies concerning future events that, by their nature, involve a number of risks, uncertainties or other factors beyond our control, which may cause our actual results, performance, achievements or other expectations to be materially different from any future results, performance, achievements or other expectations expressed or implied by these forward-looking statements.  These factors include, but are not limited to, the risks associated with: our gaming license in Singapore and concession in Macao and amendments to Macao's gaming laws; general economic conditions; disruptions or reductions in travel and our operations due to natural or man-made disasters, pandemics, epidemics or outbreaks of infectious or contagious diseases; our ability to invest in future growth opportunities, or attempt to expand our business in new markets and new ventures, execute our capital expenditure programs at our existing properties and produce future returns; government regulation; the extent to which the laws and regulations of mainland China become applicable to our operations in Macao and Hong Kong; the possibility that economic, political and legal developments in Macao adversely affect our Macao operations, or that there is a change in the manner in which regulatory oversight is conducted in Macao; our subsidiaries' ability to make distribution payments to us; substantial leverage and debt service; fluctuations in currency exchange rates and interest rates; our ability to collect gaming receivables; win rates for our gaming operations; risk of fraud and cheating; competition; tax law changes; political instability, civil unrest, terrorist acts or war; legalization of gaming; insurance; limitations on the transfers of cash to and from our subsidiaries; limitations of the pataca exchange markets; restrictions on the export of the renminbi; and other risks and uncertainties detailed in Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statement is made.  Las Vegas Sands Corp. assumes no obligation to update any forward-looking statements and information.

Las Vegas Sands Corp.
Third Quarter 2026 Results
Non-GAAP Financial Measures

Within the company's third quarter 2026 press release, the company makes reference to certain non-GAAP financial measures that supplement the company's consolidated financial information prepared in accordance with GAAP including "adjusted net income (loss)," "adjusted earnings (loss) per diluted share" and "consolidated adjusted property EBITDA," which have directly comparable GAAP financial measures.  The company believes these measures represent important internal measures of financial performance.  Set forth in the financial schedules accompanying this press release and presentations included on the company's website are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.  The non-GAAP financial measure disclosure by the company has limitations and should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP.  The definitions of our non-GAAP financial measures and the specific reasons why the company's management believes the presentation of the non-GAAP financial measures provides useful information to investors regarding the company's financial condition, results of operations and cash flows are presented below.

The following non-GAAP financial measures are used by management, as well as industry analysts, to evaluate the company's operations and operating performance.  These non-GAAP financial measures are presented so investors have the same financial data management uses in evaluating financial performance with the belief it will assist the investment community in properly assessing the underlying financial performance of the company on a year-over-year and a quarter sequential basis.

Adjusted net income (loss), which is a non-GAAP financial measure, is net income (loss) attributable to Las Vegas Sands excluding pre-opening expense, development expense, gain or loss on disposal or impairment of assets, gain or loss on modification or early retirement of debt, other income or expense and certain nonrecurring corporate expenses, net of income tax.  Adjusted net income (loss) and adjusted earnings (loss) per diluted share are presented as supplemental disclosures as management believes they are (1) each widely used measures of performance by industry analysts and investors and (2) a principal basis for valuation of Integrated Resort companies, as these non-GAAP financial measures are considered by many as alternative measures on which to base expectations for future results.  These measures also form the basis of certain internal management performance expectations.

Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes.  Management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation.  Integrated Resort companies, including Las Vegas Sands, have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures.  In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations.  Consolidated adjusted property EBITDA should not be interpreted as an alternative to income (loss) from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP.  The company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments, share repurchases and income tax payments, which are not reflected in consolidated adjusted property EBITDA.  Not all companies calculate adjusted property EBITDA in the same manner.  As a result, consolidated adjusted property EBITDA as presented by Las Vegas Sands may not be directly comparable to similarly titled measures presented by other companies.

Exhibit 1

Las Vegas Sands Corp. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Revenues:

  Casino

$      2,370

$      2,506

$      7,450

$      7,048

  Rooms

376

374

1,112

1,043

  Food and beverage

176

165

520

453

  Mall

202

199

604

572

  Convention, retail and other

92

87

269

252

Net revenues

3,216

3,331

9,955

9,368

Operating expenses:

  Resort operations

2,103

1,998

6,311

5,567

  Corporate

88

78

245

220

  Pre-opening

5

7

14

20

  Development

37

72

121

210

  Depreciation and amortization

340

368

1,047

1,101

  Amortization of leasehold interests in land

21

21

63

56

Loss on disposal or impairment of assets

4

68

14

83

2,598

2,612

7,815

7,257

Operating income

618

719

2,140

2,111

Other income (expense):

  Interest income

23

39

89

123

  Interest expense, net of amounts capitalized

(186)

(187)

(563)

(555)

Other income (expense)

(1)

11

(3)

(12)

Loss on modification or early retirement of debt

—

—

—

(5)

Income before income taxes

454

582

1,663

1,662

Income tax expense

(102)

(91)

(297)

(244)

Net income

352

491

1,366

1,418

Net income attributable to noncontrolling interests

(48)

(72)

(149)

(186)

Net income attributable to Las Vegas Sands Corp.

$         304

$         419

$      1,217

$      1,232

Earnings per share:

Basic

$        0.48

$        0.61

$        1.86

$        1.77

Diluted

$        0.48

$        0.61

$        1.86

$        1.77

Weighted average shares outstanding:

  Basic

639

682

654

696

  Diluted

640

685

655

698

Exhibit 2

Las Vegas Sands Corp. and Subsidiaries
Net Revenues and Adjusted Property EBITDA
(In millions)
(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Net Revenues

The Venetian Macao

$      649

$      692

$    1,950

$    1,993

The Londoner Macao

685

686

2,149

1,857

The Parisian Macao

231

218

678

639

The Plaza Macao and Four Seasons Macao

238

206

665

608

Sands Macao

99

72

287

218

Ferry Operations and Other

38

32

115

97

  Macao Operations

1,940

1,906

5,844

5,412

Marina Bay Sands

1,294

1,436

4,161

3,987

Intercompany Royalties

74

80

244

208

Intersegment Eliminations(1)

(92)

(91)

(294)

(239)

$    3,216

$    3,331

$    9,955

$    9,368

Adjusted Property EBITDA

The Venetian Macao

$      205

$      242

$      608

$      703

The Londoner Macao

178

219

593

577

The Parisian Macao

46

53

130

163

The Plaza Macao and Four Seasons Macao

85

74

219

214

Sands Macao

14

8

34

27

Ferry Operations and Other

1

5

8

18

  Macao Operations

529

601

1,592

1,702

Marina Bay Sands

590

743

2,067

2,116

$    1,119

$    1,344

$    3,659

$    3,818

Adjusted Property EBITDA as a Percentage of Net Revenues

The Venetian Macao

31.6 %

35.0 %

31.2 %

35.3 %

The Londoner Macao

26.0 %

31.9 %

27.6 %

31.1 %

The Parisian Macao

19.9 %

24.3 %

19.2 %

25.5 %

The Plaza Macao and Four Seasons Macao

35.7 %

35.9 %

32.9 %

35.2 %

Sands Macao

14.1 %

11.1 %

11.8 %

12.4 %

Ferry Operations and Other

2.6 %

15.6 %

7.0 %

18.6 %

  Macao Operations

27.3 %

31.5 %

27.2 %

31.4 %

Marina Bay Sands

45.6 %

51.7 %

49.7 %

53.1 %

Total

34.8 %

40.3 %

36.8 %

40.8 %

(1)

Intersegment eliminations include royalties and other intercompany services.

Exhibit 3

Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions)
(Unaudited)

The following is a reconciliation of Net Income to Consolidated Adjusted Property EBITDA:

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Net income

$         352

$         491

$      1,366

$      1,418

  Add (deduct):

Income tax expense

102

91

297

244

Loss on modification or early retirement of debt

—

—

—

5

Other (income) expense

1

(11)

3

12

Interest expense, net of amounts capitalized

186

187

563

555

Interest income

(23)

(39)

(89)

(123)

Loss on disposal or impairment of assets

4

68

14

83

Amortization of leasehold interests in land

21

21

63

56

Depreciation and amortization

340

368

1,047

1,101

Development expense

37

72

121

210

Pre-opening expense

5

7

14

20

Stock-based compensation(1)

6

11

15

17

Corporate expense

88

78

245

220

Consolidated Adjusted Property EBITDA

$      1,119

$      1,344

$      3,659

$      3,818

(1)

During the three months ended September 30, 2026 and 2025, the company recorded stock-based compensation expense of $18 million and $26 million, respectively, of which $12 million and $15 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.

During the nine months ended September 30, 2026 and 2025, the company recorded stock-based compensation expense of $57 million and $52 million, respectively, of which $42 million and $35 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.

Exhibit 4

Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions, except per share data)
(Unaudited)

The following is a reconciliation of Net Income Attributable to LVS to Adjusted Net Income:

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Net income attributable to LVS

$         304

$         419

$      1,217

$      1,232

Pre-opening expense

5

7

14

20

Development expense

37

72

121

210

Loss on disposal or impairment of assets

4

68

14

83

Other (income) expense

1

(11)

3

12

Loss on modification or early retirement of debt

—

—

—

5

Income tax impact on net income adjustments(1)

(7)

(21)

(27)

(49)

Noncontrolling interest impact on net income adjustments

(1)

2

(3)

(9)

Adjusted net income attributable to LVS

$         343

$         536

$      1,339

$      1,504

The following is a reconciliation of Net Income per Diluted Share to Adjusted Earnings per Diluted Share:

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Per diluted share of common stock:

Net income attributable to LVS

$        0.48

$        0.61

$        1.86

$        1.77

Pre-opening expense

0.01

0.01

0.02

0.03

Development expense

0.05

0.11

0.18

0.30

Loss on disposal or impairment of assets

0.01

0.10

0.02

0.12

Other (income) expense

—

(0.02)

—

0.02

Loss on modification or early retirement of debt

—

—

—

0.01

Income tax impact on net income adjustments

(0.01)

(0.03)

(0.04)

(0.08)

Noncontrolling interest impact on net income adjustments

—

—

—

(0.02)

Adjusted earnings per diluted share

$        0.54

$        0.78

$        2.04

$        2.15

Weighted average diluted shares outstanding

640

685

655

698

(1)

The income tax impact for each adjustment is derived by applying the effective tax rate, including current and deferred income tax expense, based upon the jurisdiction and the nature of the adjustment.

Exhibit 5

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(In millions)
(Unaudited)

The following reflects the impact on Net Revenues for hold-adjusted win percentage:

Three Months Ended

September 30,

2026

2025

Macao Operations

$                                      (19)

$                          (4)

Marina Bay Sands

6

(57)

$                                      (13)

$                        (61)

The following reflects the impact on Adjusted Property EBITDA for hold-adjusted win percentage:

Three Months Ended

September 30,

2026

2025

Macao Operations

$                                      (11)

$                          (2)

Marina Bay Sands

4

(43)

$                                        (7)

$                        (45)

Note:

These amounts represent the estimated impact of the hold adjustment that would have occurred had the company's Rolling Chip win percentage for the three months ended September 30, 2026 and 2025, equaled 3.3% for the Macao operations and 4.6% and 4.2%, respectively, for Marina Bay Sands. Included are the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

Exhibit 6

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Casino Statistics:

The Venetian Macao:

Table games win per unit per day(1)

$      9,715

$      9,931

$      9,697

$      9,492

Slot machine win per unit per day(2)

$         370

$         336

$         433

$         336

Average number of table games

629

657

633

661

Average number of slot machines

1,410

1,660

1,421

1,664

The Londoner Macao:

Table games win per unit per day(1)

$     12,929

$     13,115

$     14,264

$     11,843

Slot machine win per unit per day(2)

$          696

$          579

$          680

$          531

Average number of table games

531

511

517

510

Average number of slot machines

1,396

1,563

1,411

1,562

The Parisian Macao:

Table games win per unit per day(1)

$      7,687

$      7,553

$      8,162

$      7,552

Slot machine win per unit per day(2)

$         420

$         285

$         387

$         281

Average number of table games

242

243

242

239

Average number of slot machines

1,344

1,403

1,305

1,369

The Plaza Macao and Four Seasons Macao:

Table games win per unit per day(1)

$     21,840

$     20,891

$     21,801

$     20,605

Slot machine win per unit per day(2)(3)

$            —

$           76

$            —

$            91

Average number of table games

116

105

115

105

Average number of slot machines(3)

—

53

1

52

Sands Macao:

Table games win per unit per day(1)

$      7,056

$      5,516

$      6,461

$      5,684

Slot machine win per unit per day(2)

$         268

$         234

$         270

$         242

Average number of table games

119

121

128

116

Average number of slot machines

1,362

810

1,276

790

Marina Bay Sands:

Table games win per unit per day(1)

$     17,920

$     21,380

$     20,965

$     19,754

Slot machine win per unit per day(2)

$       1,069

$       1,027

$      1,056

$       1,003

Average number of table games

557

541

563

541

Average number of slot machines

2,940

2,961

2,956

2,973

(1)

Table games win per unit per day is shown before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.

(2)

Slot machine win per unit per day is shown before deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.

(3)

Slot machines were relocated to other properties during the three months ended March 31, 2026.

Exhibit 7

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

The Venetian Macao

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$      507

$      543

$     (36)

Rooms

44

52

(8)

Food and beverage

15

16

(1)

Mall

64

64

—

Convention, retail and other

19

17

2

Net revenues

$      649

$      692

$     (43)

Adjusted Property EBITDA

$      205

$      242

$     (37)

EBITDA Margin %

31.6 %

35.0 %

 (3.4) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$      917

$      635

$     282

Rolling Chip win %(1)

3.97 %

5.87 %

 (1.90)pts

Non-Rolling Chip drop

$    2,354

$    2,390

$     (36)

Non-Rolling Chip win %

22.4 %

23.6 %

 (1.2) pts

Slot handle

$    1,367

$    1,430

$     (63)

Slot hold %

3.5 %

3.6 %

 (0.1) pts

Hotel Statistics(2)

Occupancy %

98.3 %

98.0 %

 0.3 pts

Average daily room rate (ADR)

$      200

$      200

$       —

Revenue per available room (RevPAR)

$      197

$      196

$        1

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

(2)

We anticipate approximately 500 rooms, on average, to be out of service through the fourth quarter of 2027 due to room renovations.

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

The Londoner Macao

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$      514

$      525

$     (11)

Rooms

103

102

1

Food and beverage

34

31

3

Mall

26

23

3

Convention, retail and other

8

5

3

Net revenues

$      685

$      686

$       (1)

Adjusted Property EBITDA

$      178

$      219

$     (41)

EBITDA Margin %

26.0 %

31.9 %

 (5.9) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$    3,216

$    2,312

$     904

Rolling Chip win %(1)

3.43 %

3.65 %

 (0.22) pts

Non-Rolling Chip drop

$    2,803

$    2,268

$     535

Non-Rolling Chip win %

18.6 %

23.4 %

 (4.8) pts

Slot handle

$    2,256

$    2,141

$     115

Slot hold %

4.0 %

3.9 %

 0.1 pts

Hotel Statistics

Occupancy %

97.5 %

96.4 %

 1.1 pts

Average daily room rate (ADR)

$      264

$      262

$        2

Revenue per available room (RevPAR)

$      257

$      253

$        4

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

The Parisian Macao

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$      178

$      163

$      15

Rooms

33

34

(1)

Food and beverage

14

14

—

Mall

5

5

—

Convention, retail and other

1

2

(1)

Net revenues

$      231

$      218

$      13

Adjusted Property EBITDA

$        46

$        53

$       (7)

EBITDA Margin %

19.9 %

24.3 %

 (4.4) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume(1)

$         —

$         —

$       —

Rolling Chip win %(1)

— %

— %

 — pts

Non-Rolling Chip drop

$       761

$       785

$      (24)

Non-Rolling Chip win %

22.5 %

21.5 %

 1.0 pts

Slot handle

$    1,404

$    1,007

$     397

Slot hold %

3.7 %

3.6 %

 0.1 pts

Hotel Statistics

Occupancy %

98.3 %

97.0 %

 1.3 pts

Average daily room rate (ADR)

$      144

$      151

$       (7)

Revenue per available room (RevPAR)

$      142

$      147

$       (5)

(1)

Rolling Chip tables are made available based on demand.

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

The Plaza Macao and Four Seasons Macao

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$      163

$      132

$      31

Rooms

30

28

2

Food and beverage

7

7

—

Mall

37

38

(1)

Convention, retail and other

1

1

—

Net revenues

$      238

$      206

$      32

Adjusted Property EBITDA

$        85

$        74

$      11

EBITDA Margin %

35.7 %

35.9 %

 (0.2) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$    1,584

$    1,402

$     182

Rolling Chip win %(1)

3.76 %

1.84 %

 1.92 pts

Non-Rolling Chip drop

$      785

$      683

$     102

Non-Rolling Chip win %

22.2 %

25.7 %

 (3.5) pts

Slot handle(2)

$        —

$        15

$      (15)

Slot hold %(2)

— %

2.5 %

 — pts

Hotel Statistics

Occupancy %

96.1 %

92.6 %

 3.5 pts

Average daily room rate (ADR)

$      504

$      493

$      11

Revenue per available room (RevPAR)

$      485

$      456

$      29

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

(2)

Slot machines were relocated to other properties during the three months ended March 31, 2026.

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

Sands Macao

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$        92

$        66

$      26

Rooms

4

4

—

Food and beverage

2

2

—

Mall

1

—

1

Net revenues

$        99

$        72

$      27

Adjusted Property EBITDA

$        14

$          8

$        6

EBITDA Margin %

14.1 %

11.1 %

 3.0 pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$        22

$        18

$        4

Rolling Chip win %(1)

11.22 %

3.08 %

 8.14 pts

Non-Rolling Chip drop

$      480

$      371

$     109

Non-Rolling Chip win %

15.5 %

16.4 %

 (0.9) pts

Slot handle

$    1,568

$      626

$     942

Slot hold %

2.1 %

2.8 %

 (0.7) pts

Hotel Statistics

Occupancy %

99.4 %

98.4 %

 1.0 pts

Average daily room rate (ADR)

$      162

$      166

$       (4)

Revenue per available room (RevPAR)

$      161

$      164

$       (3)

(1)

This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)

Three Months Ended

Marina Bay Sands

September 30,

(Dollars in millions)

2026

2025

Change

Revenues:

Casino

$      916

$    1,077

$    (161)

Rooms

162

154

8

Food and beverage

104

95

9

Mall

70

69

1

Convention, retail and other

42

41

1

Net revenues

$    1,294

$    1,436

$    (142)

Adjusted Property EBITDA

$       590

$       743

$    (153)

EBITDA Margin %

45.6 %

51.7 %

 (6.1) pts

Gaming Statistics

(Dollars in millions)

Rolling Chip volume

$    8,429

$    9,069

$    (640)

Rolling Chip win %(1)

4.53 %

4.84 %

 (0.31) pts

Non-Rolling Chip drop

$    2,874

$    2,552

$     322

Non-Rolling Chip win %

18.7 %

24.5 %

 (5.8) pts

Slot handle

$    6,539

$    6,406

$     133

Slot hold %

4.4 %

4.4 %

 — pts

Hotel Statistics

Occupancy %

95.8 %

95.5 %

 0.3 pts

Average daily room rate (ADR)

$    1,038

$      982

$      56

Revenue per available room (RevPAR)

$       994

$      937

$      57

(1)

This compares to our theoretical Rolling Chip win percentage of 4.6% and 4.2% for the three months ended September 30, 2026 and 2025, respectively (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).

Las Vegas Sands Corp. and Subsidiaries
Supplemental Data - Asian Retail Mall Operations
(Unaudited)

For the Three Months Ended September 30, 2026

TTM

September
30, 2026

(Dollars in millions except per square foot data)

Gross
Revenue(1)

Operating
Profit

Operating
Profit
Margin

Gross
Leasable
Area (sq. ft.)

Occupancy
% at End
of Period

Tenant Sales
Per Sq. Ft.(2)

Shoppes at Venetian

$         63

$       56

88.9 %

839,415

94.1 %

$        2,201

Shoppes at Four Seasons

Luxury Retail

28

25

89.3 %

161,025

100.0 %

5,614

Other Stores

9

8

88.9 %

100,644

80.7 %

2,116

37

33

89.2 %

261,669

92.6 %

4,608

Shoppes at Londoner

26

22

84.6 %

518,620

82.4 %

1,924

Shoppes at Parisian

5

3

60.0 %

252,775

69.5 %

421

Total Cotai Strip in Macao

131

114

87.0 %

1,872,479

87.3 %

2,349

The Shoppes at Marina Bay Sands

70

62

88.6 %

616,037

99.5 %

3,318

Total

$        201

$      176

87.6 %

2,488,516

90.3 %

$        2,632

Note:

This table excludes the results of our retail outlets at Sands Macao.

(1)

Gross revenue figures are net of intersegment revenue eliminations.

(2)

Tenant sales per square foot reflect sales from tenants only after the tenant has been open for a period of 12 months.

SOURCE Las Vegas Sands Corp.

Gold fell more than 1% on ‌Thursday as rising oil prices stoked inflation concerns and reinforced expectations that interest rates could stay higher for longer, while investors awaited next week's Federal Reserve meeting for clues on the policy ​outlook.

Spot gold slid 1.3% to $4,085.29 per ounce by 0530 GMT, hitting its ​lowest since October 14. US gold futures for December delivery dropped 1.2% ⁠to $4,100.90.

If oil prices continue to rise, inflation expectations could increase, raising the likelihood ​of higher interest rates over the longer term and weighing on gold, said Kelvin ​Wong, a senior market analyst at OANDA.

Oil prices rose on Thursday as more attacks by the Houthis in Saudi Arabia prompted the US to order some diplomats and family members to leave its missions ​in the Kingdom.

Though stubborn inflation, largely driven by high energy prices, has bolstered the ​case for tighter monetary policy, Fed policymakers are expected to remain patient for now.

Traders see just a ‌15% ⁠chance of a rate hike at the Fed's October 27-28 policy meeting next week, but are pricing in a 91% likelihood of an increase in December, according to CME's FedWatch Tool.

Markets await next week's Personal Consumption Expenditures (PCE) data, a key gauge closely ​watched by the central ​bank as it ⁠targets a 2% inflation rate.

Investors anticipate elevated interest rates at both the short and long ends of the curve, reducing gold's ​appeal by increasing the opportunity cost of holding the non-yielding ​asset, Wong ⁠said.

Spot gold still targets the October 14 low of $4,073 per ounce, as suggested by a wedge. Resistance is at $4,135, a break above which could lead to a gain into ⁠the $4,150-$4,169 range, ​according to Reuters technical analyst Wang Tao.

Among other metals, ​spot silver dropped 3.3% to $56.05, platinum slid 2.2% to $1,593.05 and palladium fell 2.7% to $1,057.32.

D-Wave (QBTS +2.72%) already has something that matters in industries at the bleeding edge of science: technology customers are willing to pay for. This has won D-Wave many fans, but with annual sales still measured in the tens of millions, its enormous valuation assumes a whole lot more is coming. Will it?

And five years from now, where will D-Wave stock be?

$12.10+$0.32 (+2.72%)

NASDAQ · As of 4:00 PM ET 10/21/26

How quantum computing differs from traditional computing First, a short primer on quantum computing: The phone or laptop you're reading this on processes information using bits -- 0s and 1s. Quantum computers use quantum bits, or "qubits," which can exist in a combination of those two states. That gives them a fundamentally different way to process information, and that means quantum computers could tackle problems that are more or less impossible to solve by traditional methods.

Image source: Getty Images.

Of course, "could" is doing a fair amount of work here. Building the kind of mature, powerful, and widely useful quantum computer that the industry hopes to build is still a real engineering challenge.

D-Wave's approach to commercial quantum computing D-Wave's "quantum annealing" approach is especially good at optimization. Think problems like scheduling workers across multiple factories or improving routing for a fleet of delivery trucks.

And critically, this approach has yielded more real-world results more quickly than much of the competition. D-Wave already offers its annealing technology commercially. However, there's a catch: Annealing is widely considered to have less upside than other approaches, trading long-term potential for near-term utility.

The company is now pursuing an alternative gate-based approach after the recent acquisition of Quantum Circuits, but it has traditionally been focused on optimization and commercialization.

D-Wave's revenue, bookings, and continued losses This strategy means that, unlike some of its peers, D-Wave has a real -- albeit modest -- business. Its sales clocked in at $3.1 million last quarter, flat year over year. However, there are signs of better times ahead.

The company's backlog stands at $40.7 million. That includes a single $20 million system sale booked in the first quarter (Q1).

While revenue could pick up, D-Wave is still struggling on the bottom line, losing $48 million in Q2.

The company does, however, have a decent financial cushion, ending June with $546.2 million in cash and securities.

Two scenarios for D-Wave's growth through 2031 For these scenarios, let's start with roughly $42.5 million in 2026 revenue, close to the current analyst consensus.

A bullish scenario

D-Wave's annealing systems gain wider adoption as customers find meaningful advantages in scheduling, logistics, and other optimization tasks. Its gate-based technology progresses, opening up additional applications. Sales grow at 50% annually, reaching about $323 million in 2031. The company moves closer to profitability but continues operating in the red as it scales. A bearish scenario

Annealing finds some useful applications, but adoption remains limited as traditional computing proves competitive. Its gate-based systems remain largely confined to research and experimentation. Sales grow at 15% annually, reaching about $85 million in 2031. The company remains deeply unprofitable and eventually turns to further stock sales to help fund the gap. Where could D-Wave stock be in five years? Honestly, I see D-Wave looking a lot more like the latter case five years from now. The company already has some practical applications, but turning those into a large, profitable business and continuing to scale is another matter.

In that scenario, I doubt investors will be willing to pay anywhere near today's enormous sales multiple. Even at 10 times sales, D-Wave would be worth only $850 million, significantly less than the nearly $4.5 billion valuation it carries today.

Of course, I could be very wrong. Adoption could accelerate, and D-Wave's technology could improve faster than I expect, and its annealing approach could find wider commercial use than I assume. But I'm skeptical that its business will grow nearly as quickly as many investors assume.

As I write, shares of Coca-Cola (KO -0.87%) are up around 33% in 2026 on price alone, from $69.91 at year-end 2025 to about $93. This puts the drinks giant on pace for its best calendar-year gain since 1996. Shares closed at $93.90 on Oct. 16, a record, and trade just under that mark now.

After a climb like this, it's fair to ask if the gains are about to stop. But the stock's own history surprised me. Coca-Cola has seen 11 other calendar years with price gains of 30% or better since 1963, and the stock rose again the next year in 10 of those.

That record isn't a reason to buy by itself. But I think it's a solid reason not to sell just because this year's been so good.

Image source: Getty Images.

What happened after Coca-Cola's other big years?These numbers use year-end closing prices, adjusted for stock splits. They don't count dividends, which would have lifted all of these returns on a dividend stock like Coca-Cola.

YearPrice change that yearPrice change the next year1963Up 36%Up 22%1967Up 48%Up 8%1971Up 44%Up 22%1975Up 55%Down 4%1982Up 50%Up 3%1985Up 35%Up 34%1986Up 34%Up 1%1989Up 73%Up 20%1991Up 73%Up 4%1995Up 44%Up 42%1996Up 42%Up 27%Data source: Yahoo Finance. Calculations by author.

The median follow-up gain was around 20%. For comparison, the stock climbed in 48 of all 63 years from 1963 to 2025, with a median yearly gain of about 8%.

That said, the history is messier than a 10-out-of-11 count suggests. Three of the follow-up gains were below 5%. And two of the follow-up years (1986 and 1996) were 30%-plus years in their own right, so the best runs turn up twice.

Even the lone exception was mild. After surging 55% in 1975, the stock fell around 4% in 1976.

It's also worth noting that all 11 of these years came before 1997. From 1997 through 2025, the stock's best year was a 27% gain in 2007. That makes 2026 the first test of the pattern in nearly three decades, and a pattern from the 1960s through the 1990s might not apply to today's Coca-Cola.

Earnings grew much less than the stockManagement began 2026 guiding for non-GAAP (adjusted) earnings-per-share growth of 7% to 8%. It raised the range to 8% to 9% in April, then to 9% to 10% in July, bumping the outlook up by one point every time.

The July raise came with a strong second quarter of 2026. Organic revenue (revenue growth excluding foreign exchange, acquisitions, and divestitures) grew 6% year over year, and adjusted earnings per share rose 11% to $0.97.

The stock popped 5% to a record close on July 28, when Coca-Cola reported.

But earnings haven't kept up with the share price. In the last four quarters, Coca-Cola's adjusted earnings per share came to around $3.23, about 8% above its 2025 total of $3.00. The stock's 33% rise is more than four times that.

Put simply, investors now pay around $29 for each dollar of Coca-Cola's adjusted earnings over the past year, up from about $23 at the end of 2025.

Of course, investors can't rely on paying more for each dollar of earnings every year. From here, I think further gains will likely have to come mainly from earnings growth.

$92.68-$0.81 (-0.87%)

NYSE · As of 4:00 PM ET 10/21/26

Should new money wait?Coca-Cola reports third-quarter results before the opening bell on Tuesday, Oct. 27. Management doesn't need to lift its outlook a third time. But the report must show the 9% to 10% target still holding. Investors paying around 29 times adjusted earnings are already relying on growth like that, and the stock might have a tougher time if the target slips.

Should anyone sell after the stock's best year in three decades? In 10 of the 11 past cases, holding for another year paid off. If I owned shares, I wouldn't sell them because of this year's rise alone.

Buying is a different story. With most of the rise coming from a higher valuation, I'd want either a lower price or a few more quarters of earnings growth before putting new money in. Coca-Cola's business is healthy, but the stock costs much more than it did at the start of the year.

The AUD/JPY cross trades in negative territory around 110.60 during the early European trading hours on Thursday. Hawkish remarks from Japanese authorities provide some support to the Japanese Yen (JPY) against the Australian Dollar (AUD).

Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Wednesday that underlying inflation is moving securely toward the central bank’s 2% target. Earlier on Monday, BoJ Governor Kazuo Ueda stated that underlying inflation is near the 2% target. He further stated that if the bank raises the short-term policy rate, long-term interest rates are likely to rise steadily with policy.

Reserve Bank of Australia (RBA) monetary policy board member Andrew Hauser said on Wednesday that the inflation outlook is materially worse than the bank had forecast. The odds of an interest rate increase in the November policy meeting climbed from 30% before Hauser’s comments to 45%, according to the Guardian.

Japan export momentum extends despite softer-than-expected gainsAnalysts at Deutsche Bank note that early data for September showed a further solid performance from Japan’s external sector, with exports rising by “+16.7% in September compared to the same month last year,” supported by “robust demand for semiconductors and AI-related products that continued to support growth.” They highlight that this “marked the 13th consecutive month of gains following a 9.3% rise in August,” even though the latest print fell short of “expectation of a +21.3% increase.” On the import side, Deutsche Bank points out that “imports rose by +18.9% y/y, falling short of the forecast of a +20.4% increase,” and that this softer outcome helped narrow the external shortfall, with “a decrease in imports” contributing to a reduction in Japan’s trade deficit “to -536.6 billion yen in September from -1.11 trillion yen in the previous month.”

Technical Analysis: AUD/JPY holds a modestly bearish outlook below the 100-day SMAIn the daily chart, AUD/JPY keeps a modestly bearish bias, holding below the longer-term 100-day simple moving average (SMA) while trading above the 20-day Bollinger SMA, suggesting a capped recovery within a broader corrective context. The Relative Strength Index (RSI) hovers around 50, hinting at neutral momentum and reinforcing the view of consolidation rather than a decisive bullish reversal as long as overhead resistance remains intact.

On the topside, initial resistance level emerges at the upper Bollinger band around 111.15, en route to a stronger barrier at the 100-day SMA near 112.10. A desicive break above this level could see a rally to the June 16 high of 113.55 and then the July 27 high of 114.67. 

On the downside, immediate support level is seen at the 20-day Bollinger midline around 110.20, followed by the 110.00 psychological level. Further south, the next contention level to watch is the lower limit of Bollinger band near 109.20, where a break lower would reopen the door to deeper losses.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.

One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.

Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.

The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.