Track market-moving stories before they get noisy

NEAR Intents, a cross-chain swap service built on NEAR Protocol (NEAR), lost about $3.8 million to an exploit on Thursday. The NEAR token fell 8.6% within hours, although the underlying blockchain was not named as the target.

The hack landed two days after Bitwise opened the first US spot NEAR exchange-traded fund (ETF). Bitwise pitched that fund partly on NEAR Intents, which it says has processed over $32 billion in swaps.

How the NEAR Intents Hack HappenedNEAR Intents lets users swap a token on one blockchain for a token on another. Users state the trade they want, and outside market makers compete to fill it.

The team said a bug caused the loss. The flaw sat in how its Omni deposit and withdrawal system interacted with the NEAR Intents smart contract, the self-running code that records each swap.

Earlier today NEAR Intents services were stopped after a security incident was detected. The incident was caused by a bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.

The preliminary report indicates the total loss of…

— NEAR Intents (@near_intents) October 1, 2026 On-chain investigator ZachXBT flagged the attack, saying the service’s hot wallet on BNB Chain, an online wallet used to pay out withdrawals, saw several unusual outflows before it stopped processing transactions.

The stolen funds went straight to crypto exchange KuCoin and were converted into Bitcoin (BTC), according to ZachXBT.

ZachXBT flagged irregular BSC hot wallet outflows linked to the exploit.NEAR Intents said it has patched the contract flaw and will compensate affected users in full. It has also reported the incident to law enforcement.

Is NEAR Protocol Safe After the $3.8 Million Hack?Deposits and withdrawals remain paused for about 12 more hours on 11 networks. These include BNB Chain, Polygon, TON, Optimism, Avalanche, Stellar, Monad, X Layer, ADI, Scroll, and Plasma.

Neither the official statement nor ZachXBT’s alert reports any loss from the NEAR blockchain itself. Both point to the swap service’s bridge and its BNB Chain wallet.

Users holding assets from the paused chains inside NEAR Intents can still swap them into other tokens once core service resumes, the team said.

Meanwhile, NEAR traded at $4.92 at press time, with a market value near $6.4 billion. The token had climbed about 175% in September ahead of the Bitwise NEAR ETF launch.

NEAR Price Performance. Source: BeInCryptoIt is the second major exploit in the NEAR ecosystem this year, after Rhea Finance lost $7.6 million in April. NEAR Intents has promised a full technical report in the coming days.

The need to modernize commercial and defense aerospace fleets is expected to drive increased spending in the sector. One report estimates that global aerospace spending will rise from $434.17 billion this year to $846.30 billion by 2035, a compound annual growth rate of 7.7% -- and so the industry is transforming as a result.

In 2024, one key player -- then known as just plain-old Honeywell International-- announced it would split its three segments of advanced materials, automation, and aerospace into three companies. In October of 2025, it spun off its advanced materials business into Solstice Advanced Materials (SOLS +0.21%). Three months ago, on June 29, the company completed the spinoff of Honeywell Technologies (HON +1.79%) for its automation business and Honeywell Aerospace (HONA -0.34%) for its aerospace business.

Deciding which Honeywell company is the right one to buy for the aerospace boom may seem like a trick question. The answer is so obvious, it can't be right, can it?

Image source: Getty Images.

The choice isn't as simple as it seems The name makes Honeywell Aerospace seem like the obvious stock to play the aerospace boom. The company builds aircraft engines, avionics, auxiliary power units, and other aviation systems for commercial and defense aircraft. However, the other two Honeywell companies each benefit from aerospace spending.

Solstice makes low-global-warming-potential hydrofluoroolefin solvents, which are critical for precision cleaning of sensitive flight instruments, oxygen lines, hydraulic systems, and jet turbine components. The company also makes high-purity chemicals, specialized blowing agents, and fluoropolymers used in semiconductors, radomes, thermal insulation, and circuit boards integrated into modern aircraft avionics.

Honeywell Technologies, which is what remains of Honeywell International, is a pure-play industrial automation company, but its products are critical to how aerospace equipment is manufactured, tested, and housed, including its distributed control systems, robotics, assembly line controls, and test facilities and environmental chambers.

So, the answer isn't so easy. To figure out which of these companies should thrive the most from an aerospace boom, you have to look back at the third quarter of 2025, when all three segments were under the same roof. In that quarter, Honeywell Aerospace reported 15% year-over-year sales growth, well ahead of the other two segments.

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In the second quarter of this year, Honeywell Aerospace's first as an independent company, it reported sales of $4.5 billion, up 5% year over year. It also reported adjusted earnings per share of $1.87, down 32% from the same period last year, though that figure is somewhat skewed by short-term spinoff costs. It may take a while for the company to overcome those expenses, as its long-term debt increased to $15.85 billion from $4 million, reflecting financing moves related to its separation from Honeywell Technologies.

Investors have been lukewarm on the stock Since its spinoff, the stock is down more than 18%, worse than the roughly 11% drop for Honeywell Technologiesso far this year and less than the 32% decline for Solstice stock. One reason for Honeywell Aerospace's decline is that it trimmed its full-year sales growth guidance from 7%-9% to 4%-5%.

Of the three, Solstice is predicting the most growth, 6%, at the midpoint, with Honeywell Technologiesexpecting 3% to 4% revenue growth.

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The backlog is a big deal As of the second quarter, Honeywell Aerospace had a backlog of $18.1 billion, and it continues to add to its orders. Year to date, Honeywell Aerospace has built significant commercial and defense momentum, securing an estimated $15 billion in lifetime value across a series of major new contract wins. Headlining these accomplishments is a historic deal with Indian carrier IndiGo, which selected Honeywell's flagship avionics and power systems for its massive order of 810 new Airbus A320neo family aircraft, marking the largest new-aircraft-selectable equipment win in the company's history.

In addition to major original equipment manufacturer (OEM) selections, Honeywell Aerospace continues to advance its retrofit, modification, and upgrade (RMU) growth strategy, highlighted by Aeromexico's intention to adopt its latest Surface Alerts (SURF-A) runway safety technology across its fleet of more than 100 Boeing 737NG and 737MAX aircraft. On the defense front, European OEMs have named Civitanavi Systems' ARGO 4000 inertial measurement unit as a preferred solution to integrate critical guidance capabilities into missile programs, unmanned platforms, maritime vessels, and land vehicles.

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These orders provide great transparency of the company's earnings over the next couple of years. That backlog is largely tied to defense modernization programs, military avionics upgrades, and next-generation propulsion systems. The increase in defense budgets worldwide should give the company steady cash flow visibility even during broader economic pullbacks.

One of its biggest concerns is supply chain issues, but as a stand-alone company, it can focus on that issue more directly than when it was a segment of Honeywell International.

Taking the long-term view Honeywell Aerospace, among the three Honeywell-related stocks, is best positioned to benefit from the aerospace boom. It has the most industry exposure of the three stocks, with Honeywell Technologies and Solstice having only tertiary exposure to aviation. Honeywell should also have more long-term growth, and its huge backlog of orders means it should have little difficulty paying down its debt.

Down the line, the stock could even offer a dividend or stock repurchases, making it more appetizing to investors. With more than $18.1 billion in revenue anticipated this year and a high-margin commercial aftermarket business, Honeywell Aerospace generates substantial free cash flow. This financial profile gives the board the flexibility to consider initiating a regular quarterly dividend once baseline operational and capital allocation priorities stabilize.

Accenture plc (ACN) Q4 2026 Earnings Call October 1, 2026 8:00 AM EDT

Company Participants

Alexia Quadrani - Executive Director of Investor Relations
Julie T. Sweet - CEO & Chairman
Angie Park - Chief Financial Officer

Conference Call Participants

Tien-Tsin Huang - JPMorgan Chase & Co, Research Division
Darrin Peller - Wolfe Research, LLC
Bryan Keane - Citigroup Inc., Research Division
Jason Kupferberg - Wells Fargo Securities, LLC, Research Division
Keith Bachman - BMO Capital Markets Equity Research
James Schneider - Goldman Sachs Group, Inc., Research Division
Bryan Bergin - TD Cowen, Research Division
David Koning - Robert W. Baird & Co. Incorporated, Research Division

Presentation

Operator

Good day, and welcome to the Accenture Fourth Quarter 2026 Financial Results Conference Call. [Operator Instructions] Please note today's event is being recorded.

I'd now like to turn the conference over to Alexia Quadrani, Executive Director and Head of Investor Relations. Please go ahead.

Alexia Quadrani
Executive Director of Investor Relations

Thank you, operator, and thanks, everyone, for joining us today on our fourth quarter and full year fiscal 2026 earnings call. As the operator just mentioned, I'm Alexia Quadrani, Executive Director, Head of Investor Relations. On today's call, you will hear from Julie Sweet, our Chair and Chief Executive Officer; and Angie Park, our Chief Financial Officer. We hope you've had an opportunity to review both the earnings release and the accompanying presentation issued prior to this call.

Let me outline the agenda for today. Julie will begin with an overview of our Q4 results and step back to look at fiscal 2026 overall before following with a brief update on our market positioning. Angie will then take you through the detailed financial numbers, including the income statement and balance sheet, along with key operational metrics for the fourth quarter and full fiscal year before providing a business outlook for the first quarter

Key Takeaways NIO delivered 109,178 vehicles in Q3 2026, up 25.4% year over year and within its guidance range.NIO's vehicle margin climbed to 18.5% in Q2, helped by higher-margin products and lower costs.NIO faces slowing monthly delivery growth, rising input costs, high debt and weaker earnings estimates. China’s electric vehicle (EV) company NIO Inc. (NIO - Free Report) delivered 109,178 vehicles in the third quarter of 2026, up 25.4% year over year and within its own guided range of 108,000-111,000 units. Third-quarter deliveries consisted of 62,500 units from the NIO brand, 27728 units from the ONVO brand and 18,950 from Firefly. Cumulative deliveries as of Sept. 30, 2026 totaled 1,297,893 units.

Meanwhile, growth at close peers XPeng (XPEV - Free Report) and Li Auto (LI - Free Report) was less impressive. XPeng’s third-quarter deliveries came in at 118,390 units, marking a 2% increase from year-ago quarter deliveries. In contrast, Li Auto reported 99,964 deliveries in the September quarter, up 7.2% from the corresponding quarter of 2025.

While NIO’s delivery growth stands out, let’s look beyond the headline numbers to assess whether the stock is truly a buy at current levels.

NIO's Product Lineup Driving GrowthNIO's growth is being buoyed by its newer and upgraded vehicle models, with two flagship SUVs leading the way.

The ES8 reached 150,000 cumulative deliveries on Sept. 20, exactly one year after its launch. During the year, it topped sales among large SUVs and among all vehicles priced above RMB 400,000. The ES9 began deliveries on May 28 and crossed 30,000 units on Sept. 23, 2026. It has also been the best-selling battery electric vehicle priced above RMB 500,000 for three months in a row. These models are strengthening NIO's standing in the premium electric SUV segment.

NIO also reaches a broader range of customers at different price levels through its three brands— NIO, ONVO and Firefly.

NIO’s Profitability ImprovingNIO's profitability has strengthened as it sells more vehicles and a larger share of them are higher-end models. Its vehicle margin rose to 18.5% in the second quarter of 2026, up from 10.3% in the same quarter last year. This gain came from selling more high-margin products and from lower costs.

Management plans to hold the vehicle margin close to the second-quarter 2026 level through the third and fourth quarters, even though material costs are expected to rise further. The company also expects both operating cash flow and free cash flow to be positive in each of these two quarters.

NIO's Battery Swapping Network ExpandsNIO and Geely Automobile (GELHY - Free Report) have agreed to combine their charging and battery-swapping networks, with each company taking a stake in the other. As part of the deal, Geely will launch more electric models that work with shared swapping standards, with NIO providing support.

NIO Power has set a target of running 10,000 battery-swapping stations worldwide by 2030. At that scale, its yearly electricity use is expected to go beyond 10 billion kWh.

The company is already building on a solid base. When it passed 100 million total swaps in February, it had 3,790 swapping stations, and it plans to open another 1,000 this year. Earlier in 2026, it also set a one-day record of 175,976 battery swaps.

NIO's Road Isn't All SmoothBeneath the strong headline deliveries, investors should note that delivery growth slowed sharply as the third quarter progressed. Year-over-year growth was 71% in July, then fell to 14.5% in August and 7.7% in September.

Additionally, rising input costs could squeeze margins. Management aims to keep the vehicle margin near the second-quarter level, but achieving that will depend on how well the company manages sourcing and its product mix.

NIO's debt also remains high, with long-term debt-to-capitalization at about 82%.

Earnings estimates are moving in the wrong direction as well. Over the past 30 days, the Zacks Consensus Estimate for NIO's 2026 loss per share has widened by 3 cents to 13 cents. The 2027 estimate still points to a return to profit, but the consensus EPS figure has dropped from 9 cents to 5 cents over the same period.

Image Source: Zacks Investment Research

NIO’s Price Performance & ValuationYear to date, shares of NIO have fallen roughly 33%, wider than the industry’s decline of 18%. However, shares of Li Auto and XPeng have also underperformed the industry, sliding 33% and 53%, respectively, during the same time frame.

Image Source: Zacks Investment Research

From a valuation perspective, NIO currently trades at a forward price-to-sales ratio of 0.39, below the industry’s 0.57.

Image Source: Zacks Investment Research

Our TakeNIO's third-quarter deliveries, new product momentum, improving margins and expanding swapping network make a strong case. But slowing monthly year-over-year growth over the third quarter, elevated debt, rising costs and falling earnings estimates keep the risks real.

The third-quarter earnings report will be the key test. It should show whether margins held near the second-quarter level. Management's commentary on fourth-quarter deliveries will indicate whether the slowdown seen in August and September is temporary or a sign of weaker demand ahead.

Until then, the risk-reward looks balanced at best. Existing shareholders can stay put, but new investors would be better off waiting for the results and clearer fourth-quarter guidance.

NIO carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

A group of US states sued Corteva (CTVA.N) ​and Vylor (VYLR.N) on Thursday, alleging Corteva's spinoff of its ‌seed business to Vylor was a fraudulent attempt to avoid tens of billions in legacy liabilities related to "forever chemicals" polluting the ​environment.

The lawsuit, filed in Indiana state court by 15 ​US states and the territory of Guam, alleges ⁠that Vylor received the "crown jewels" of Corteva's business without ​assuming its liabilities for perfluoroalkyl and polyfluoroalkyl substances (PFAS). Corteva and ​Vylor are corporate successors to DuPont, which has been named in thousands of lawsuits alleging the company's chemicals have polluted the environment ​and exposed millions of Americans to potential health risks.

​Corteva completed the spinoff of its seed and genetics business into a separate ‌publicly ⁠traded company on Thursday.

Corteva was formed during the 2015 merger of Dow Chemical Company and DuPont, taking on the combined companies' agriculture business and becoming the corporate parent ​of the ​old DuPont companies, ⁠according to the complaint.

At the time Corteva contractually assumed DuPont's PFAS liabilities, but ​the new Vylor transaction attempts to spin ​off the ⁠profitable seed business without taking on any of the old company's PFAS debts. The states allege that the spinoff is ⁠an ​attempt to defraud PFAS creditors by ​placing assets out of reach of their lawsuits against former DuPont companies.

Key Takeaways CNA Financial's P&C net written premiums rose 4% despite just a 2% renewal premium change. CNA Financial's new business grew 11% to a record $718 million, while retention remained 83%. CNA Financial's second-quarter net investment income rose to $701 million, supporting earnings growth. CNA Financial Corporation (CNA - Free Report) can potentially sustain growth even as insurance pricing softens, but the growth mix is likely to shift from rate-driven expansion toward new business, retention, specialization and disciplined underwriting.

In the second quarter of 2026, CNA’s P&C net written premiums increased 4% year over year, despite a renewal premium change of only 2% and flat renewal rate increases. Importantly, new business grew 11% to a record $718 million, while retention remained strong at 83%. This indicates that CNA is increasingly generating premium growth through customer acquisition and portfolio management rather than relying solely on higher renewal rates.

CNA’s Specialty and Commercial businesses provide additional avenues for growth. Specialty NWP increased 5% in the second quarter, while Commercial NWP also rose 5%. Management said it continues to identify opportunities to write accounts at appropriate prices, terms and conditions while pulling back from areas where risk-adjusted returns are less attractive. This selective approach could help CNA defend underwriting profitability as competition increases and pricing moderates.

However, investors will need to monitor whether CNA can maintain premium growth without sacrificing margins. CNA’s second-quarter P&C underlying combined ratio deteriorated to 94.2% from 91.7%, while the underlying loss ratio increased to 64.1%. The pressure was particularly evident in Commercial, where the underlying combined ratio rose to 92.8% from 90.6%.

CNA's growth story is becoming less dependent on pricing and more reliant on 11% new-business growth, strong retention, specialty-market opportunities and disciplined risk selection. Higher investment income also provides some earnings support, with second-quarter net investment income rising to $701 million.

What About Other Players?    The Travelers Companies, Inc. (TRV - Free Report) faces the challenge of softer insurance pricing, particularly in its Business Insurance operations, where moderating renewal rates could reduce the contribution of pricing to premium growth. In the second quarter of 2026, Business Insurance net written premiums increased 5%, excluding the impact of the Canadian divestiture, while renewal premium change was 4.8%. This means Travelers increasingly needs to generate growth through new business, retention, and exposure growth rather than relying on higher renewal prices. At the same time, Travelers must maintain underwriting discipline, as slower pricing growth can make it harder to absorb claims inflation and other loss-cost pressures.

Chubb Limited (CB - Free Report) is also facing softer insurance pricing, particularly in commercial property, but the impact is uneven across its portfolio. In the second quarter of 2026, Chubb said soft underwriting conditions persisted in large-account and E&S property, while softer conditions were also spreading to certain casualty and financial-lines businesses. This pressured North America Commercial P&C NWP, which declined 2.3% year over year, although NWP excluding large-account and E&S property increased 4.1%. Chubb is responding by maintaining underwriting discipline rather than pursuing volume at inadequate prices. Management noted that it would not knowingly underwrite business at a loss. Growth is increasingly coming from areas with better opportunities, including Middle Market and Small Commercial, which grew 8.9%, as well as international markets, where Overseas General NWP increased 10.2%.

CNA’s Price PerformanceShares of CNA have lost 2.7% in the past year compared with the industry.

Image Source: Zacks Investment Research

CNA’s UndervaluationThe stock is undervalued compared with its industry. It is currently trading at a price-to-book value multiple of 1.09, lower than the industry average of 1.39. It carries a Value Score of B.

Image Source: Zacks Investment Research

Estimate Movement for CNAThe Zacks Consensus Estimate for CNA’s third-quarter 2026 EPS moved down 1.6% in the past 60 days. The same for full-year 2026 EPS has moved up 2.4% in the past 60 days.

Image Source: Zacks Investment Research

AppLovin Corp. (NASDAQ:APP) shares are trading lower, falling further below their moving averages to a fresh 52-week low, after a Unity spokesperson’s comments appeared to weigh on the stock. Here’s what you should know.

AppLovin shares are approaching critical lows. What’s behind APP weakness? AppLovin Sues Unity Over Alleged Data MisuseAppLovin filed for a temporary restraining order against Unity Software Inc (NYSE:U) in California court this week. The filing accuses Unity’s Ad Quality software of improperly gathering data tied to AppLovin’s ads. That data reportedly includes details on creatives, users, devices, revenue and engagement, Digiday reported.

AppLovin further claims Unity fed that information into its own models to compete against AppLovin in mobile ad auctions. The company has not proven those claims in court.

AppLovin wants the court to block Unity from collecting what it calls its “Protected Data.” That includes pricing and auction information tied to AppLovin’s business. AppLovin is also asking Unity to halt the relevant data collection within five business days and rework its software within 30 days. Separately, AppLovin initiated a JAMS arbitration case. That filing alleges breach of contract, trade-secret misappropriation and violations of California’s unfair competition law.

Unity fired back through a spokesperson. The statement called AppLovin’s lawsuit “a classic case of a dominant incumbent resorting to litigation and intimidation” meant to address “increased competition and slowing growth.” Unity framed the dispute as targeting a small, free tool built to keep harmful ads out of games.

AppLovin’s Chart Shows a Stock in a Clear DowntrendBeyond the legal dispute, AppLovin’s chart tells its own story. The stock had spent much of September struggling to hold its 20-day moving average. That support finally gave way this week, and the stock has faced heavy selling pressure since. Shares now trade below every major moving average and sit at a fresh 52-week low.

The stock has fallen 11.4% below its 20-day average of $314.58 and sits 39.2% under its 200-day average of $458.24. The 20-day average trading below the 50-day points to near-term weakness. A death cross from March, when the 50-day average dropped beneath the 200-day, continues to weigh on the stock’s broader trend. The next meaningful support level may sit near $220, an area where the stock found buyers during a bounce in late March 2025.

APP Shares Are DroppingAPP Price Action: AppLovin shares were down 2.84% at $282.18 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro.

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The Canadian dollar continues to face one of its most challenging environments in recent months when it comes to maintaining strength against the U.S. dollar. The weakness of the Canadian currency is clearly reflected in USD/CAD, which has now recorded nine consecutive bullish sessions and gained more than 1.7% during that period. This price action highlights that buying pressure remains firmly in control of the pair in the short term.

For now, the primary driver behind this move continues to be the strength of the U.S. bond market, which remains supportive of dollar demand. As long as this backdrop persists, and even if it proves resilient to tomorrow's U.S. employment data release, buying pressure around USD/CAD could remain an important feature of the market in the sessions ahead.

Can Anything Slow the Bond Market Rally?
As trading continues, a similar trend remains visible across both Canadian and U.S. bond markets. Ten-year government bond yields in both countries have moved higher in recent weeks, although the gap between them remains substantial.

While U.S. 10-year Treasury yields continue to trade near 5.2%, Canadian government bond yields remain close to the 4.0% area. This spread continues to provide a meaningful advantage for U.S. assets, particularly given that Treasury bonds are perceived as lower-risk investments while also offering higher returns. As a result, U.S. dollar-denominated assets continue to enjoy a stronger relative appeal among international investors.

Source: TradingEconomics

This dynamic has been a consistent theme for several weeks and helps explain part of the weakness observed in the Canadian dollar. Even so, it is worth noting that this trend could begin to shift depending on expectations surrounding the Federal Reserve, which is precisely why tomorrow's NFP release has become such an important event.

The employment report will provide a clearer picture of labor market conditions during September and could directly influence expectations for future U.S. monetary policy. Markets currently expect approximately 90,000 jobs to have been added, compared with 162,000 in the previous report. This anticipated slowdown is important because it could begin to reduce the scope for a more aggressive Federal Reserve.

In fact, if payroll growth comes in below expectations, it could further reduce the likelihood of additional rate hikes over the coming months. This cautious outlook is already beginning to appear in market pricing, where current probabilities suggest nearly a 70% chance that interest rates will remain unchanged at the October meeting. Nevertheless, those expectations remain highly sensitive to tomorrow's employment data.

Source: CMEGROUP

With all of this in mind, the NFP release stands out as one of the most important short-term events for USD/CAD. If the report confirms a slowdown in labor market conditions and reinforces the idea of a more patient Federal Reserve, some of the recent strength in U.S. Treasury yields could begin to moderate, potentially limiting further gains in the U.S. dollar. Under that scenario, a more balanced environment could begin to develop around USD/CAD.

That said, the opposite outcome remains equally important. If employment data once again points to a resilient U.S. economy, it could continue to support expectations of restrictive monetary policy for longer. In that case, both Treasury yields and the U.S. dollar could maintain part of their current strength, allowing the buying pressure that has characterized USD/CAD in recent weeks to remain a relevant theme.

USD/CAD Technical Forecast

Source: StoneX, Tradingview

The bullish trend remains dominant: USD/CAD price action continues to reflect a clearly dominant bullish bias. This dynamic has helped establish a short-term uptrend that continues to guide most of the pair's recent movements. However, it is also important to note that the market is approaching key resistance levels and that the recent advance has been relatively rapid, a situation that could begin to signal overstretched bullish momentum and leave room for temporary corrective pullbacks.

 
MACD: The MACD histogram continues to trade above the 0 neutral line, reflecting that the average strength of short-term moving averages remains supportive of a bullish outlook. As long as this behavior persists, buying pressure may continue to dominate the chart.

 
RSI: A similar picture can be observed in the RSI, which continues to develop above the 50 neutral level. However, the indicator has also moved beyond the 70 overbought threshold, a signal that is often associated with excessive recent buying momentum and could open the door to short-term corrective declines.

 
Key Levels:

1.42348 – Key Resistance: The last major barrier observed in recent months and a high not seen since July. A sustained move above this level would not only reinforce the dominance of the current bullish bias but could also confirm a more consistent higher-high structure on the daily chart. Such a scenario could pave the way for a broader and more meaningful uptrend in the weeks ahead.

 
1.41564 – Near-Term Barrier: A significant retracement level observed several weeks ago that now stands as the closest support reference to monitor. This area could become the primary level to watch in the event of short-term corrective pullbacks.

 
1.40526 – Critical Support: An important equilibrium zone observed during previous weeks that remains the most relevant downside barrier within the pair's recent price action. A move toward this level could begin to signal a loss of directional momentum, place the current uptrend under pressure, and open the door to a broader phase of indecision over the coming weeks.

 
Written by Julian Pineda, CFA, CMT – Market Analyst

Follow him on: @julianpineda25

It has been about a month since the last earnings report for MongoDB (MDB - Free Report) . Shares have lost about 7.1% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is MongoDB due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

MDB Q2 Earnings Beat Estimates on Atlas & EA Strength, Outlook RaisedMongoDB delivered second-quarter fiscal 2027 non-GAAP earnings of $1.90 per share, which rose 90% year over year and topped the Zacks Consensus Estimate by 18.75%.

Total revenues increased 30.5% year over year to $771.8 million and surpassed the consensus estimate by 5.2%. Results benefited from strength among large enterprise customers, solid Atlas consumption and broad Enterprise Advanced demand.

Total company net ARR expansion improved to 122% from 119% a year ago and 121% in the prior quarter.

MDB's Q2 Revenue Mix Reflects Broad StrengthSubscription revenues rose 30.5% year over year to $747.1 million, while services revenues increased 29.3% to $24.6 million. The subscription business remained the primary contributor to the top line.

Atlas-related revenues totaled $565.9 million, up 28.9% from $439.0 million a year ago. MongoDB Enterprise Advanced and other revenues reached $181.2 million, rising 35.9% from $133.4 million, reflecting broad strength across financial services, the public sector and technology.

MongoDB's Customer Metrics Keep ExpandingMongoDB ended the quarter with more than 70,600 customers, up from 59,900 a year ago, after adding approximately 2,900 customers sequentially. Atlas customers increased to more than 69,300 from 58,500 in the prior-year period.

Customers generating at least $100,000 in annual recurring revenues rose 17% year over year to 2,999. Among Atlas customers in this cohort, 48% used two or more platform features, up from 42%, driven largely by Vector Search and text search adoption. Remaining performance obligations climbed 91% to $1.52 billion.

MongoDB's Q2 Operating DetailsIn the fiscal second quarter, MongoDB’s non-GAAP gross profit increased to $585.7 million, with the non-GAAP gross margin expanding to 76% from 74% a year ago.

Subscription gross margin was 78.3%, up about 70 basis points, primarily reflecting the higher Enterprise Advanced revenue mix.

Non-GAAP sales and marketing expenses rose 6.9% year over year to $215.7 million. Research and development expenses increased 30.7% to $137.4 million, while general and administrative expenses advanced 9.6% to $46.7 million.

Non-GAAP income from operations rose to $185.9 million from $86.8 million. The corresponding operating margin expanded to 24% from 15%, underscoring stronger operating leverage alongside the quarter's revenue growth.

MongoDB's Balance Sheet & Cash FlowAs of July 31, 2026, MongoDB had cash, cash equivalents and short-term investments of $2.4 billion compared with $2.4 billion as of April 30, 2026.

During the quarter, the company allocated $100 million toward share repurchases and $59 million to settle taxes on employee restricted stock units.

Operating cash flow was $141.9 million in the fiscal second quarter compared with $201.6 million reported in the prior quarter.

Free cash flow during the quarter was $137.6 million compared with $197.5 million in the prior quarter.

MongoDB Raises Fiscal 2027 GuidanceFor the third quarter of fiscal 2027, MongoDB expects revenues of $756 million to $761 million. Non-GAAP income from operations is projected between $152 million and $156 million, while non-GAAP earnings are expected between $1.57 and $1.61 per share.

For fiscal 2027, revenues are now anticipated between $2.99 billion and $3.03 billion, up from the prior $2.92-$2.96 billion range. Non-GAAP earnings are projected between $6.39 and $6.58 per share compared with the previous $5.95-$6.14 range. Management now expects Atlas growth of approximately 27% and Enterprise Advanced and other revenue growth of about 11% for the year.

How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.

The consensus estimate has shifted 296.43% due to these changes.

VGM ScoresAt this time, MongoDB has a great Growth Score of A, a grade with the same score on the momentum front. However, the stock has a grade of F on the value side, putting it in the lowest quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise MongoDB has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerMongoDB is part of the Zacks Internet - Software industry. Over the past month, Rubrik, Inc. (RBRK - Free Report) , a stock from the same industry, has gained 31.3%. The company reported its results for the quarter ended July 2026 more than a month ago.

Rubrik, Inc. reported revenues of $427.26 million in the last reported quarter, representing a year-over-year change of +37.9%. EPS of $0.20 for the same period compares with -$0.03 a year ago.

For the current quarter, Rubrik, Inc. is expected to post earnings of $0.09 per share, indicating a change of -10% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.4% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Rubrik, Inc.. Also, the stock has a VGM Score of C.

EL SEGUNDO, Calif.--(BUSINESS WIRE)--Mattel, Inc. (NASDAQ: MAT), a leading global play and family entertainment company and owner of one of the world's most iconic brand portfolios in the world, announces a milestone in the expansion of its worldwide experiences business, confirming Bellevue, Nebraska, is now the first Mattel Wonder Indoor Waterpark planned to open at the end of 2027.

Designed as a year-round, multi-brand destination, the approximately 100,000-square-foot waterpark will bring Barbie, Hot Wheels, Fisher-Price, UNO and more Mattel brands together through attractions, play, food and shared experiences. American Resort Management, a proven leader in high-volume resort and entertainment operations including Epic Waters and Wild Rivers, will oversee sustainable day-to-day performance and guest-flow optimization.

Natalia Premovic, Chief Consumer Products and Experiences Officer, Mattel, said: “Mattel Wonder Indoor Waterparks are about bringing great experiences to where our fans actually live. We see a real opportunity to take the kind of immersive entertainment traditionally concentrated in major markets and bring it to more communities in a scalable, year-round format. Bellevue becoming our first Waterpark to open is an important step in that strategy and a significant chance to show what happens when you bring so many of our brands together in one place.”

The new renderings (found here) from the Bellevue location offer an early look at how Mattel’s iconic brands will be translated into immersive attractions and themed environments. The Waterparks will share a common vision while offering unique experiences at each location. Including Bellevue, Mattel has confirmed four of the five planned Waterpark locations across North America. Other confirmed locations are Orlando, Florida; Bradley, Illinois; and Roanoke Rapids, North Carolina.

The Waterpark will feature a vibrant environment where Mattel’s brands are woven into the story. Featured experiences at Bellevue will include a Barbie activity pool and FlowRider® surf simulator; a Hot Wheels "Challenge Accepted" multi-slide tower; a lazy river inspired by Mattel Games favorites including UNO, Rock 'Em Sock 'Em Robots and Magic 8 Ball, a Fisher-Price water play structure; and themed food and beverage offerings. Designed for a wide range of ages and thrill levels, the destination offers something for every guest, blending immersive storytelling with signature attractions that invite visitors to step inside the worlds of Mattel. Featuring a signature retractable roof, the climate-controlled venue will offer year-round operation while bringing natural light and fresh air.

Rusty Hike, Mayor of Bellevue, Nebraska, said: "Bellevue is proud to be home to the first Mattel Wonder Indoor Waterpark, bringing a one-of-a-kind location to our community and welcoming visitors from across the region. This project represents an important investment in Bellevue's future, and we're excited to work with Mattel and American Resort Management to create a place where people can experience all our community has to offer.”

Construction continues on the indoor destination, which is being developed within Bellevue's growing Good Life District, a mixed-use destination designed to increase tourism, through a collaboration between Mattel, the City of Bellevue and American Resort Management.

“Seeing the building take shape is exciting, but the interior is where the vision will really come to life,” said Rick Coleman, CEO of American Resort Management. “Our goal is to create an experience that feels unmistakably Mattel while delivering the quality, service and guest experience families expect from a world-class waterpark.”

ABOUT MATTEL, INC.

Mattel is a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, and Polly Pocket®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com.

ABOUT AMERICAN RESORT MANAGEMENT

American Resort Management, LLC (ARM) is a leading destination resort management and development company with extensive experience in lodging and resort operations, specializing in indoor/outdoor waterpark resorts, family entertainment centers, and destination resorts. For over 20 years, ARM has been committed to delivering exceptional guest experiences and is dedicated to innovation and excellence in the industry. Visit americanresortmanagement.com for more information.

More News From Mattel, Inc.

It has been about a month since the last earnings report for GitLab Inc. (GTLB - Free Report) . Shares have lost about 4.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Gitlab due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for GitLab Inc. before we dive into how investors and analysts have reacted as of late.

GitLab Q2 Earnings Beat on Revenue Growth and Sales ProductivityGitLab reported second-quarter fiscal 2027 non-GAAP earnings of 24 cents per share, which remained unchanged year over year and 33.33% above the Zacks Consensus Estimate.

Revenues of $286.25 million rose 21.3% year over year and beat the consensus mark by 4.74%.

Broad-based strength across new and existing customers supported the quarter. Net annual recurring revenue (ARR) growth accelerated to 42% year over year, while the dollar-based net retention rate was 117%.

GTLB’s Revenue Mix Shows Broad-Based GrowthSubscription, self-managed and SaaS revenues increased 21.5% year over year to $258.31 million. License, self-managed and other revenues rose 20.1% year over year to $27.94 million.

SaaS revenues represented 34% of total revenues and increased 36% year over year. Calculated billings grew 24%, while total remaining performance obligations rose 16% to $1.2 billion and current RPO increased 20% to $744.7 million.

GitLab’s Customer Expansion AcceleratesCustomers generating more than $5,000 of ARR reached 11,114, up 8% year over year. Customers with more than $100,000 of ARR increased 17% year over year to 1,571. Ultimate ARR grew roughly 35% and accounted for 59% of total ARR. Eight of GitLab’s 10 largest second-quarter deals purchased Ultimate, while gross retention remained above 90%.

GitLab recorded approximately 1,700 first orders, more than double the year-ago level, while first-order net ARR increased 39%. Deals worth at least $500,000 grew more than 150% year over year. Account executive capacity increased about 30%, while productivity per rep improved about 10%.

GitLab's Flex and AI Products Gain TractionGitLab Flex attracted more than 130 customers with over $20 million in commitments during its first six weeks in market. Paid consumption run rate exceeded $40 million at quarter-end, up from $15 million exiting the first quarter. Management is targeting more than $100 million by fiscal year-end.

Duo Agent Platform paid consumption run rate increased roughly 50% sequentially. GitLab Orbit, which entered public beta in June, had more than 2,200 organizations enabled indexing and generated more than 170,000 customer queries. Roughly 80% of query volume came from customers connecting Orbit to external agents.

GTLB's Operating DetailsIn the second quarter of fiscal 2027, non-GAAP gross margin was 86%, down from 90% in the prior year. 

On a non-GAAP basis, sales and marketing expenses rose 15.8% year over year to $103.82 million, research and development costs increased 24.6% year over year to $65.17 million, and general and administrative expenses advanced 19.1% year over year to $36.00 million.

Non-GAAP operating income increased 7.6% year over year to $42.57 million. However, the corresponding operating margin was 15%, down from 17% in the year-ago quarter.

GTLB’s Cash Flow Weakens on Collection TimingAs of July 31, 2026, cash and cash equivalents and short-term investments were $1.26 billion compared with $1.36 billion as of April 30, 2026.

Operating cash outflow was $3.09 million compared with operating cash flow of $49.37 million in the year-ago quarter. Adjusted free cash flow declined to $9.75 million from $46.45 million.

The company repurchased approximately 3.5 million shares during the quarter and had about $245 million remaining under its current authorization.

GitLab Raises Fiscal 2027 OutlookFor the third quarter of fiscal 2027, GitLab expects revenues of $281-$283 million, implying 15%-16% year-over-year growth. Non-GAAP operating income is projected to be $35-$37 million, while non-GAAP earnings are expected to be between 19 cents and 20 cents per share.

For fiscal 2027, revenues are now projected to be $1.129-$1.133 billion, representing 18-19% growth. Non-GAAP operating income is expected to be $148-$152 million, and earnings are likely to be between 85 cents and 87 cents per share. The outlook assumes a normalized bookings pace, modest Duo Agent Platform revenue contribution and excludes the potential revenue-timing impact of Flex. Management estimates a maximum $13 million fiscal 2027 revenue-timing impact from Flex adoption.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.

The consensus estimate has shifted -11.11% due to these changes.

VGM ScoresCurrently, Gitlab has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock has a score of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Gitlab has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry PlayerGitlab belongs to the Zacks Internet - Software industry. Another stock from the same industry, Elastic (ESTC - Free Report) , has gained 2.4% over the past month. More than a month has passed since the company reported results for the quarter ended July 2026.

Elastic reported revenues of $478.11 million in the last reported quarter, representing a year-over-year change of +15.1%. EPS of $0.70 for the same period compares with $0.60 a year ago.

Elastic is expected to post earnings of $0.81 per share for the current quarter, representing a year-over-year change of +26.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +1%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Elastic. Also, the stock has a VGM Score of D.

Key Takeaways ANF expects about 130 net new store experiences in FY26, including 50 openings and 80 remodels.ANF says FY26 will mark its fifth straight year as a net store opener, with growth weighted to the Americas.ANF's SoHo store is performing above expectations, and elements of the concept may roll out to more stores. Abercrombie & Fitch Co. (ANF - Free Report) continues to strengthen its physical retail footprint as part of its broader growth strategy. For fiscal 2026, the company expects to deliver approximately 130 net new store experiences, including 50 new stores and 80 remodels and rightsizes, against roughly 20 closures. New stores are expected to be relatively balanced across the Abercrombie and Hollister brands and weighted toward the Americas. The initiative reflects ANF’s focus on combining selective new-store openings with modernization of its existing fleet to create more productive and engaging shopping environments.

Management remains confident in the runway for store expansion. ANF noted that 2026 marks its fifth consecutive year as a net store opener, underscoring the consistency of its real estate strategy. Rather than viewing store growth as having a fixed endpoint, management continues to identify opportunities across markets and formats. The recently opened Abercrombie SoHo location has been particularly encouraging, with customer response described as strong and the business performing above expectations. The company plans to incorporate elements of the SoHo concept into additional stores over time.

The store strategy also complements Abercrombie & Fitch’s broader push to expand its reach through digital channels, partnerships and new product categories. Management has emphasized continued investment in owned-and-operated stores and digital businesses while layering in growth from third-party channels. If new locations, remodels and rightsizing initiatives continue to improve the customer experience and support brand momentum, the physical fleet could remain an important contributor to ANF’s longer-term growth. However, execution will be key as the company balances expansion spending with its focus on maintaining healthy profitability and disciplined capital allocation.

ANF’s Zacks Rank & Share Price PerformanceShares of this Zacks Rank #1 (Strong Buy) company have jumped 46% in the past six months, outperforming the industry and the broader Retail-Wholesale sector, which fell 6.1% and 0.7%, respectively.

ANF Stock's Six-Month Price Performance
Image Source: Zacks Investment Research

ANF currently trades at a forward 12-month P/E ratio of 11.15X, which is lower than the industry average of 12.24X and notably below the sector average of 20.89X. This valuation positions the stock at a modest discount relative to both its direct peers and the broader consumer staples sector.

ANF P/E Ratio (Forward 12 Months)
Image Source: Zacks Investment Research

Other Stocks to ConsiderWe have highlighted three other top-ranked stocks in the retail space, namely, FIGS Inc. (FIGS - Free Report) , Deckers Outdoor Corporation (DECK - Free Report) and Boot Barn Holdings, Inc. (BOOT - Free Report) .

FIGS is a direct-to-consumer healthcare apparel and lifestyle brand, and it currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FIGS’ current financial-year sales indicates growth of 19.7% from the year-ago reported number. The company delivered a trailing four-quarter earnings surprise of 201.8%, on average.

Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories. It carries a Zacks Rank #2 at present. DECK delivered a trailing four-quarter average earnings surprise of 15.2%.

The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 6.8% and 7.9%, respectively, from the year-ago actuals.

Boot Barn operates specialty retail stores in the United States and internationally. At present, it carries a Zacks Rank of 2.

The consensus estimate for Boot Barn’s current fiscal-year sales and earnings implies growth of 15.8% and 23.5%, respectively, from the year-ago figures. BOOT delivered a trailing four-quarter earnings surprise of 11.4%, on average.

The largest known whale wallet on the Kaspa network, tracked by @kaspaunchained as Entity X, appears to be pulling back on its $KAS buying activity. On-chain data from the Kas.live explorer shows a clear deceleration in net inflows over recent months, raising questions about what the shift in behavior might signal for the broader market.

Accumulation Slows Sharply Since Summer Peak The data tells a straightforward story. In June, Entity X posted a net inflow of roughly 56 million KAS. That figure dropped to around 32 million in July, then fell further to approximately 20 million in August. September marked the weakest month yet: the wallet accumulated around 24 million KAS but also withdrew 17 million tokens, resulting in a net inflow of just 7 million KAS.

As of early October, the whale has already withdrawn a further 4.52 million KAS, suggesting the cooler posture has carried into the new month.

Despite the reduced buying pace, the position remains substantial. Entity X currently holds an unrealized profit and loss figure worth $65.71 million, according to the same explorer data.

Context: A Broader Shift in Kaspa Whale Dynamics Entity X has attracted significant attention in the Kaspa community, with the wallet said to have accumulated over a billion KAS and described as one that "almost never sells," alongside speculation about institutional or Gulf capital backing. Whether those rumors hold any weight remains unverified, but the wallet's scale is not in dispute.

Kaspa's emission schedule shows that roughly 27.37 billion KAS have already been mined, representing approximately 95.39% of its hard-capped 28.7 billion supply, with remaining issuance approaching zero by late 2026. That supply dynamic adds weight to how large holders position themselves, since new tokens entering circulation are becoming increasingly scarce.

The slowdown in Entity X's accumulation does not necessarily indicate selling pressure. The wallet's net position continues to grow, and withdrawals from on-chain wallets often reflect movement to cold storage rather than exchange deposits. Still, the declining pace of net inflows is a notable shift from the aggressive buying seen earlier in the summer.

Observers will be watching whether October marks a continued cooling off or a temporary pause before another accumulation phase begins.

Sources:
CoinMarketCap: Kaspa Surges Amid Broad Crypto Rally and Social Hype Around Entity X
CryptoNews: Kaspa Is 95% Mined With Supply Running Out by Late 2026

DAO Steps Back From Block Production@Coredao_Org is pushing deeper into decentralization, with the project preparing to hand block production responsibilities entirely to independent validators over the coming months.

Since the network's launch in 2023, the DAO's own validators played a key supporting role in keeping block production running continuously. That arrangement helped stabilize the network in its early stages, but it was always intended as a temporary measure. Independent validators have already been carrying out operations under the network's existing framework, and the DAO is now ready to step back from that function altogether.

The transition is a natural extension of how Core was designed. On the Core blockchain, validators are essential nodes responsible for maintaining the network's security, decentralization, and integrity. They validate transactions, produce new blocks, and participate in governance through Core's Satoshi Plus consensus, which blends Delegated Proof of Work (DPoW), Delegated Proof of Stake (DPoS), and Self-Custodial Bitcoin Staking to ensure decentralization, security, and scalability.

How Satoshi Plus Supports Independent Validators The Satoshi Plus consensus selects validators based on a hybrid scoring system that considers delegated Bitcoin, CORE tokens, and Bitcoin hash power. Validator sets are rotated periodically, and validator elections occur in epochs, typically every 24 hours, to select the top 31 active validators based on their hybrid scores.

The election process allows miners and stakers to participate in validator selection, promoting decentralization and preventing the concentration of control. By removing the DAO from block production, Core aims to ensure the network is governed by a broad, permissionless set of independent operators rather than any centrally coordinated group.

Validators operate independently and globally, ensuring fair participation. The gradual handover reflects the DAO's broader vision: a network that runs on its own, sustained by the economic incentives and community participation that Satoshi Plus is designed to encourage.

The move signals a maturation of the Core network and aligns with the principles its consensus mechanism was built on from the start.

Sources:
Core DAO Docs: Validators on the Core Network
Core DAO Blog: Validators on Core, Role, Election and Rewards

Key Takeaways Encore Capital benefits from strong U.S. portfolio supply, record collections and a growing ERC balance.ECPG raised 2026 guidance for purchases of $1.40-$1.50B and GAAP EPS of $13-$14.U.S. concentration, rising legal expenses and funding costs could pressure margins and earnings growth. Shares of Encore Capital Group, Inc. (ECPG - Free Report) have skyrocketed 73.8% so far in 2026 against the industry’s decline of 16.2%. In the same period, the S&P 500 has gained 17.2%.

ECPG stock has also fared better than its peers, Credit Acceptance Corporation (CACC - Free Report) and PRA Group, Inc. (PRAA - Free Report) . Year to date, Credit Acceptance and PRA Group shares have rallied 19.7% and 10.2%, respectively.

YTD Price Performance

Image Source: Zacks Investment Research

The Federal Reserve’s recent 25-basis-point rate hike and hawkish stance are likely to work in Encore Capital’s favor by keeping borrowing costs elevated and adding pressure on consumers. This may fuel credit card delinquencies and charge-offs, boosting the supply of debt portfolios available for purchase. With this backdrop supporting its core business, does ECPG stock still have room to run despite recent price strength?

Let us take a closer look at its fundamentals and growth prospects.

Key Factors Supporting Encore CapitalRobust U.S. Supply & Collection Strength: The United States remains Encore Capital’s primary growth market, supported by high revolving credit balances, elevated charge-off rates, and stable consumer payment behavior. In the first half of 2026, U.S. receivable portfolio purchases reached $688.1 million, while global purchases totaled $806.7 million. Smaller buyers continue to face regulatory and funding constraints, supporting a favorable competitive environment for Encore Capital. Management expects 2026 portfolio purchases of $1.4-$1.5 billion, with the majority of deployment directed toward U.S. opportunities. The company’s scale, analytics capabilities, and funding access are expected to enable disciplined purchasing despite modestly higher portfolio pricing.

Outstanding U.S. Revolving Credit and U.S. Credit Card Charge-Off Rate

Image Source: Encore Capital Group, Inc.

Collection performance is adding further support to the earnings outlook. Enhanced consumer outreach, new technologies, digital capabilities, advanced analytics, and a growing payer base helped Encore Capital generate $99 million in cash overs in the first half of 2026, while global collections reached a record $1.46 billion. U.S. vintage multiples were 2.5x for 2024, 2.4x for 2025, and 2.3x for 2026.

Estimated Remaining Collections (ERC) reached $10.18 billion as of June 30, 2026, up 9% year over year. Management expects the contribution from cash overs to increasingly shift toward portfolio revenues as ERC curves are revised upward. The Zacks Consensus Estimate projects 2026 and 2027 sales to increase 8.9% and 2.1% year over year, respectively.

Sales Estimate

Image Source: Zacks Investment Research

Selective European Deployment Protects Returns: Encore Capital continues to prioritize disciplined capital deployment in Europe as subdued consumer lending, low delinquencies and strong competition weigh on the U.K. market. Its Cabot business is focusing on fresher portfolios, forward-flow arrangements, cost management and the adoption of MCM best practices. Portfolio purchases reached $118.6 million in the first six months of 2026, while collections increased to $325.4 million. This selective approach may constrain near-term purchase growth, but it helps preserve return thresholds and keeps Cabot positioned to capitalize on more attractive supply opportunities as it continues to emphasize cost and operational improvements in the business.

Balance Sheet Strength Supports Capital Deployment: Encore Capital continues to preserve financial flexibility while operating within its targeted 2.0x-3.0x leverage range and maintaining its objective of a strong BB debt rating. Leverage was 2.3x as of June 30, 2026, down from 2.6x a year ago. The company had $793.4 million available under its revolvers and facilities and no significant debt maturities until 2028.

In May, Encore Capital refinanced approximately $1 billion of debt through two lower-coupon bonds, further extending its maturity profile. These resources provide flexibility to fund portfolio purchases while supporting share repurchases and other capital allocation initiatives. As of June 30, 2026, approximately $255 million remained available under the share repurchase authorization. Its 29.83% ROE, compared with the 12.49% industry average, further highlights its capital efficiency.

Debt Maturity Profile

Image Source: Encore Capital Group, Inc.     
Higher 2026 Guidance Signals Earnings Momentum: Encore Capital raised its full-year 2026 outlook, reflecting expectations for continued growth in portfolio purchases and collections. The company now expects portfolio purchases of $1.40-$1.50 billion, collections of $2.80-$2.85 billion, and GAAP EPS of $13.00-$14.00, including a $1 per share impact from refinancing costs.

The Zacks Consensus Estimate projects earnings to increase from $10.91 per share in 2025 to $13.52 in 2026 and $14.64 in 2027. Higher collections, disciplined portfolio deployment, favorable macro trends and potential upward revisions to ERC are expected to support portfolio revenue and earnings growth.

Earnings Estimate

Image Source: Zacks Investment Research

Challenges Faced by Encore CapitalU.S. Concentration: Encore Capital’s growth remains heavily dependent on favorable U.S. credit conditions. Midland Credit Management (MCM) accounted for 85.3% of global portfolio purchasing dollars in the first half of 2026, while the U.K. market remains subdued due to lower consumer lending, low delinquencies, and continued competition. Although management expects U.S. purchasing conditions and consumer payment behavior to remain favorable, limited geographic diversification could leave the company more exposed if U.S. portfolio supply, pricing or collections performance deteriorates. A reversal in charge-off trends or payment behavior could therefore weigh on portfolio deployment, collections and earnings growth.

Higher Collection and Funding Costs Could Pressure Margins: Encore Capital’s earnings remain sensitive to rising collection-related expenses and funding costs. Legal collections expenses increased 25.8% year over year in the first half of 2026, compared with 7.5% growth in total operating expenses, potentially limiting operating leverage if collection growth moderates. At the same time, borrowings rose to $4.18 billion as of June 30, 2026, from $4.0 billion at year-end 2025, while first-half interest expense totaled $147.0 million. The May refinancing extended maturities and is expected to save approximately $15 million annually, but generated $30.5 million of refinancing costs in the second quarter. With 2026 interest expense and other income expected at about $295 million, higher funding costs combined with elevated legal expenses could weigh on cash efficiency, margins, and earnings if portfolio returns or collections growth weaken.

ECPG’s Valuation AnalysisIn terms of valuation, Encore Capital stock is currently trading at a forward 12-month price-to-earnings (P/E) of 6.58X, compared with the industry average of 7.33X. This indicates that the stock is trading at a discount to the industry.

Price-to-Earnings F12M

Image Source: Zacks Investment Research

Moreover, ECPG is trading at a discount to Credit Acceptance, while trading at a premium to PRA Group. At present, Credit Acceptance and PRA Group trade at a trailing 12-month P/E of 10.05X and 5.26X, respectively.

How Should You Approach ECPG Stock Now?Encore Capital appears well positioned for continued growth, supported by robust U.S. portfolio supply, strong collection performance, disciplined portfolio deployment, and improving earnings visibility. Record MCM collections, a growing expected remaining collections balance, disciplined European strategy, and favorable U.S. purchasing conditions are expected to support portfolio revenues, while balance sheet flexibility and expense management provide capacity for further investments and capital returns.

Although U.S. concentration, rising legal collection expenses and reliance on debt financing remain risks, Encore Capital’s updated 2026 guidance reflects a clear earnings-growth framework. Currently, ECPG stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IREN Ltd. (NASDAQ:IREN) shares have lost about 18% from their Sept. 22 close, even as demand for the company’s AI computing capacity remains strong.

The concern is what that growth will cost. IREN plans $25 billion to $30 billion of fiscal 2027 capital spending, raising questions over financing and future returns.

AI Demand Isn’t the ProblemIREN said in August it had $4 billion of contracted annualized run-rate revenue (ARR) for 2026 capacity, including $1 billion already operating, with 2026 capacity largely sold out.

Management said recent three-year contracts were pricing above $20 million in revenue per megawatt of IT load.

IREN cautions that ARR is not a GAAP measure and recognized revenue may be materially lower.

The $30 Billion QuestionAgainst a planned $25 billion to $30 billion of fiscal 2027 spending, IREN has about $14 billion of cash, committed GPU financing and customer prepayments. It is targeting another $8 billion from GPU financing and prepayments, with the remainder expected from data center financing, operating cash flow and other sources.

That does not mean IREN needs to raise $30 billion from shareholders. But it does mean the company still has to secure billions more in funding, build the capacity on time and generate enough revenue from it to justify the cost.

That has become more expensive as borrowing costs have risen. The U.S. 10-year Treasury yield touched 5.34% Thursday, its highest since 2002, increasing the cost of financing a buildout on this scale.

Bullish Analysts Still See RisksMost of Wall Street still sees upside in IREN, with Benzinga data showing 17 of 21 analysts at Buy or better and no Sell ratings.

But Rothschild Redburn initiated IREN at Neutral with a $40 target, while Jones Trading started at Hold, citing customer credit quality.

Those concerns landed as investors were already reassessing the economics of AI infrastructure. IREN fell sharply Sept. 25 alongside other cloud-computing providers after Nscale’s IPO filing put fresh attention on the sector’s huge capital requirements and the durability of GPU pricing.

Prediction Traders Watch GPU PricesH100 rental prices are also under pressure. The Ornn H100 index fell 11.1% over seven days to $2.71 per GPU-hour on Sept. 30.

Prediction traders are not betting heavily on a rebound. Polymarket puts about 22% odds on H100 rental prices finishing 2026 between $2 and $2.50 per hour, with roughly 65% of the market’s probability below $3. About $61,000 has been traded.

The market does not track IREN’s contracts directly, but falling H100 prices add to questions over returns on new AI capacity.

IREN shares were down about 2% at $40.80 at last check Thursday.

Image: Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Apple Today

$328.48 -4.54 (-1.36%)

As of 01:22 PM Eastern

This is a fair market value price provided by Massive. Learn more.

$243.42▼

$345.340.33%

37.65

$340.02

Shares of Apple Inc. NASDAQ: AAPL fell 2.66% on Tuesday, Sept. 29, adding to a decline in the prior session, despite having set an intraday all-time high on Tuesday, Sept. 22. A federal jury’s $5.7 billion verdict against Apple on Friday, Sept. 25, added a fresh legal overhang, providing a reminder that even the largest companies can see their stock spooked by a single piece of legal news.

The ruling ordered the tech giant to pay more than $5.7 billion to Taction Technology after finding that Apple’s Taptic Engine infringed claims in two patents covering haptic-feedback technology used in iPhones and Apple Watches. Apple has said it will appeal. A $5.7 billion one-time payment might be material in absolute terms, but Apple has substantial financial capacity to absorb it, having generated nearly $117 billion in operating cash flow during the first nine months of fiscal 2026.

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However, here is where the verdict gets interesting: the real threat isn't the one-time payout. It's the possibility of an ongoing royalty on every affected iPhone and Apple Watch sold going forward. That scenario would put material pressure on hardware margins over time, and it's why some are treating this verdict as more than a legal sideshow.

Why the Royalty Risk Matters More Than the VerdictThankfully for investors, Apple's scale makes the headline figure look worse than the underlying economics. The company can comfortably absorb a multibillion-dollar charge without threatening its balance sheet, buybacks, or ability to invest in new products.

A recurring royalty is different. It would affect the economics of every affected device for years rather than hitting earnings once. The market, therefore, has good reason to focus less on the Sept. 25 award and more on what Apple might ultimately have to agree to pay to keep using the technology.

Apple’s Pricing Power Still Supports the Bull CaseFor now, Apple's pricing power remains the foundation of the broader bullish thesis. The company has consistently raised prices on iPhone Pro models without losing meaningful volume, and it's done so while managing component-cost inflation and maintaining solid gross margins.

Services revenue, which has started to exceed Hardware in some quarters, provides a diversification buffer that didn't exist five years ago. Recent iPhone Pro demand indicators remain healthy, with lead times elevated in several markets—a backdrop consistent with pricing power holding up.

The bulls argue that this cash-generation capacity can absorb the $5.7 billion hit. The real constraint is whether Apple can avoid paying a recurring royalty, and here the appeal front offers a credible path forward.

A federal district court originally granted Apple summary judgment of noninfringement in 2023, but the U.S. Court of Appeals for the Federal Circuit vacated that ruling on Aug. 13, 2025, and sent the case back for further proceedings. A successful appeal or a settlement that avoids a significant ongoing royalty would remove much of the overhang. Under that framework, the verdict creates a window for a settlement that removes longer-term uncertainty without gutting margins.

Valuation Leaves Less Room for Legal SetbacksThe bearish argument continues to rest on valuation and execution risk, but they’ll consider the Sept. 25 verdict to be another string in their bow. When you consider how Apple's valuation continues to look stretched compared to historical levels, there’s not that much room for stumbles like this.

92nd Percentile

Moderate Buy

3.0% Upside

Healthy

Strong

1.08 Selling Shares

9.04%

See Full Analysis

If hardware margins were to be compressed by new recurring royalty payments, if the current upgrade cycles disappoint, or if component costs rise faster than pricing can offset them, the stock’s valuation could start to contract rather sharply.

Bears will also argue that Apple’s new premium devices may raise average selling prices without generating enough net-new incremental earnings growth to justify the current valuation. A legal headwind only compounds that concern when the stock is already priced at an elevated multiple.

Yet here is the critical detail—the vast majority of analysts remain bullish on Apple, and the MarketBeat consensus rating is still a Moderate Buy, even after the verdict. That consensus suggests Apple's fundamental economics are strong enough to weather this verdict without a material shift in the investment case.

A Legal Scare, Not Yet a Thesis BreakerThat said, the $5.7 billion verdict is a real risk, and the royalty question deserves close monitoring as the appeal proceeds. But Apple's pricing power, broader revenue growth, and fortress balance sheet make this a problem the company has substantial resources to address, whether through appeal, settlement, or through the kind of margin management it has proven adept at executing.

For those who are bullish on Apple over the long term, the verdict might actually be creating a window for an entry point, as it’s almost certainly not a reason to abandon the bullish thesis. That means investors comfortable with Apple’s valuation at current levels might see the recent pullback as a buying opportunity dressed up as a legal scare.

Should You Invest $1,000 in Apple Right Now?Before you consider Apple, you'll want to hear this.

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Sell ratings have fallen sharply even as Tesla shares remain down 21% this year and analysts cut vehicle-delivery expectations. Summary

Tesla shares are down 21% year to date as concerns persist around its core electric-vehicle business.

Wall Street is becoming less pessimistic about Tesla Inc. (TSLA, Financials), the electric car manufacturer that is branching out into robotics and artificial intelligence, despite the fact that its stock has down 21% so far this year.

According to statistics provided in the study, sell ratings currently account for 13.1% of 61 analyst recommendations, which is their lowest percentage since April 2023 and down from 23.3% in January.

The change does not equate to widespread belief. Analysts are still hesitant to give value to Tesla's robotaxi, humanoid robot, and other AI goals before they produce significant income, as seen by the rise in hold ratings to their highest level in over two years.

This caution also applies to the main car industry. Rajat Gupta, a JPMorgan analyst, recently reduced his price objective from $445 to $415 while keeping a neutral rating.

Due to weaker-than-expected deliveries in China and the United States, he also lowered his third-quarter delivery projection from 516,000 cars to 482,000.

It makes Tesla's worth more dependent on whether companies other than electric cars can generate significant profits.

Next, investors will keep an eye on car deliveries and proof that Tesla's robotics, AI, and autonomous driving initiatives can start boosting profits.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Nike Inc’s (NYSE:NKE) China turnaround is starting to look less like a marketing reset and more like a redesign of how the company operates. The sportswear giant is giving its China team more control over products, cutting thousands of online distribution points and trying to move at the speed of local rivals — just as investors wait for its Oct. 1 earnings report.

China Became A Margin ProblemThe urgency is visible in the numbers. Nike’s Greater China revenue fell to $5.85 billion in fiscal 2026, down from $7.55 billion two years earlier. Segment operating profit fell even faster, from $2.31 billion in fiscal 2024 to $1.28 billion in fiscal 2026.

Nike has also lost ground to domestic names such as Anta Sports and Li Ning as Chinese consumers increasingly gravitate toward brands that can respond faster to local sports trends and preferences. Reuters reported in July that Nike had suffered eight consecutive quarters of declining China sales before announcing its latest distribution overhaul.

That helps explain why Nike’s latest strategy is not simply "sell more shoes." The company is trying to change how those shoes are conceived, priced and presented.

Read Next

Nike Wants China to Move FasterIn July, Nike said partner-operated online storefronts in mainland China would stop selling most Nike products beginning January 2027. The company plans to concentrate digital sales on Nike.com.cn, its app and official flagship stores on Tmall, JD.com, Inc. (NASDAQ:JD) and Douyin.

Cathy Sparks, Nike’s vice president and general manager for Greater China, has also been given a bigger mandate on product development. Nike appointed its first Greater China vice president of local product creation, with the team tasked with designing, developing and making products in China for Chinese consumers.

That is the more interesting part of the turnaround.

Sparks told China Daily that Nike has doubled the size of its local product-creation team, while the company plans to launch its first apparel collection created, designed and developed entirely in China during the coming holiday season. She described the goal as getting products to consumers faster and bringing the voice of the Chinese athlete into Nike’s global product engine.

Nike is also leaning into categories where local participation is growing. Running has emerged as a particularly important growth area, while basketball, soccer and tennis remain key sports for the China business.

The Earnings Test Is NextThe strategy carries a near-term cost. Nike is removing third-party online sellers even though they account for a significant portion of China sales, and analysts expect Greater China revenue to fall 12.6% to about $1.3 billion in fiscal Q1 2027.

That makes the Oct. 1 earnings report more than another quarterly update. Investors will be looking for evidence that Nike’s China reset is beginning to improve demand, pricing and consumer engagement — particularly as the company prepares to resume longer-term guidance at its Nov. 16-17 Investor Day.

For NKE, the bigger question is whether acting more like a local brand can restore the global brand’s relevance in China — without sacrificing the scale and economics that made the market so valuable in the first place.

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Image via Shutterstock/ Roman Zaiets

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Bank of America just raised its dividend again, but a razor-thin capital cushion separates the next raise from a payout freeze. Here is the precise mechanism that determines whether shareholders get another bump or watch buybacks disappear first.

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Bank of America (NYSE:BAC | BAC Price Prediction) raised its quarterly common dividend to $0.32 from $0.28, declared on July 24, 2026. The annualized forward payout now stands at $1.28 per share. Second-quarter EPS was $1.21, and the bank paid $2.0B in common dividends against $9.07B of net income. Capital is the constraint.

Why Record Profits Still Hit a Capital Ceiling As a systemically important bank, Bank of America must hold common equity Tier 1 (CET1) capital above a regulatory floor. Every dollar paid out reduces that pool. Every new loan raises risk-weighted assets, which raises required capital. CFO Alastair Borthwick laid out the math during July’s earnings call:

“Tier 1 common equity grew to nearly $202 billion while our RWA increased to $1.8 trillion driven by loan growth and capital markets activity.”

“We remain in a strong position with our CET1 ratio stable at 11.2% and that remains well ahead of our 10% minimum ratio.”

That reserve is the smallest among peers. JPMorgan Chase (NYSE:JPM) reported a 14.3% CET1 ratio in Q1 2026, and Citigroup (NYSE:C) ended 2025 at 13.2%. Bank of America’s average loans rose 8% to $1.2 trillion, consuming capital peers with more slack can return.

Stress Tests Set the Payout Calendar The Fed’s annual stress test resets each bank’s buffer, and dividend increases arrive after summer results. CEO Brian Moynihan tied credit discipline to those results on the July 14, 2026 call:

“We stick to our credit knitting, so to speak. It’s been consistent. It’s been long-term. You can see it in the stress test results, again, that just got issued.”

Buybacks Take the Bigger Slice Dividends and repurchases draw from the same capital. In Q2 2026, the bank spent $6.0B on buybacks versus $2.0B on dividends. In Q1, repurchases were roughly $7.2B of $9.3B returned.

The dividend held at $0.18 through mid-2021, then stepped to $0.21, $0.22, $0.24, $0.26, $0.28 and $0.32, one raise annually since 2021. Management treats the dividend as a sticky commitment and buybacks as the flexible valve.

What Must Hold, and What Would Stall Raises Raises continue if:

Net interest income compounds. Q2 NII hit $16.00B, up 9%. Credit stays healthy. The net charge-off ratio improved to 0.47% from 0.55%. CET1 stays clear of the 10% minimum while loans grow. Raises stall if:

Rates fall. A 100 bps downward shift would reduce NII by about $2.2B. $70.3B of commercial real estate exposure goes bad. Capital rules tighten or Global Markets revenue falls. Borthwick highlighted one internal tool:

“As we continue to pay that down, that’ll free up more capital. It’ll help us on the return on tangible common equity as well.”

Our View: Steady Raises, Flexible Buybacks Bank of America will raise its dividend annually, and the jump to $0.32 signals board confidence in the stress-test outcome. The real limit is the gap between an 11.2% CET1 ratio and the 10% floor. When capital tightens, buybacks shrink first and the dividend holds. The next checkpoint is the October 14 third-quarter report.

Contact [email protected] for any questions or corrections.

NVIDIA just posted quarterly revenue that would have counted as a strong full year not long ago, yet the stock still trades at a fraction of what its earnings growth suggests it deserves. Something has to give, and the path…

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The quarter NVIDIA (NASDAQ:NVDA | NVDA Price Prediction | NVDA Price Prediction) just reported would have counted as a strong full year not long ago. Revenue reached $96.22B in Q2 fiscal 2027, up 105.8% year over year. Data Center generated $89.02B, and Networking alone contributed $40.31B.

As Jensen Huang summed it up: “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.” The stock is up 23.71% year to date, far behind that pace. So can NVIDIA hit $350 in 2027?

Why NVIDIA Shares Lag Its Own Earnings Growth Over the past year, shares gained 29.49% while quarterly net income rose 125.9%. The worries behind that gap are real. Management noted “extreme pricing conditions in memory” and expects gross margin to bottom at 71% to 72% in Q4. Supply commitments jumped to $279B.

Guidance includes no China data center compute revenue, and days sales outstanding stretched to 60 days from 45. Management even admitted that “some will call this circular financing.”

Recent gains are modest: 1.23% in a week and 5.93% in a month. With a beta of 2.217, any doubt about AI spending hits these shares harder than it hits the broader market.

Wall Street Sees 42.4% Upside. Our Model Says 17.7% The consensus target is $327.70, which implies 42.4% upside. Ratings stand at 9 Strong Buys, 48 Buys, 2 Holds and 1 Sell. The base case is $270.40 (17.68% upside), inside a range that runs from $233.53 to $315.21, with high confidence of 0.9.

Mega-cap muting holds the earnings growth contribution to just 0.03. The analysts, who are 95% bullish, still lag on the longer horizon in my view. The fiscal 2028 EPS estimate climbed from $13.1277 to $15.6826 in 30 days, with 42 upward revisions and zero cuts.

What It Takes for NVIDIA to Reach $350 To get to $350 from today’s price of $230.18 would require a gain of 52.1%.

With forward EPS of $13.0579, a price of $350 implies a forward P/E of 27x. That sits below the 33x implied multiple in our valuation model. Measured against today’s 18x, the rerating needed is 9.2 turns.

I think that rerating is possible. Earnings growth also works in the stock’s favor. Management expects revenue to grow approximately 70% in fiscal 2028, even with supply constraints. At $350, the stock trades at just 22x fiscal 2028 consensus EPS.

Vera Rubin began production shipments in August, and AWS is deploying an additional 2 million GPUs. The board just expanded the buyback into the largest in history, and CNBC reads that as a sign the stock is too cheap for Huang to resist (CNBC; The New York Times). Huang says “demand is accelerating.”

If AI capital spending slows down, the $279B in supply commitments could become a burden.

Where NVIDIA Trades Today Versus Its Earnings Power At 18x forward earnings, NVIDIA trades at a modest multiple for a company growing revenue at triple digits. Shares sit near the top of their 52-week range of $163.90 to $236.

Over 10 years, the stock has returned 13,592.4%. The current multiple prices in doubt that the earnings trend keeps contradicting.

Is $350 Realistic? My Verdict Hitting $350 requires a 52.1% gain. I call it a stretch that can be reached.

Three things need to go right: Vera Rubin launches on schedule, gross margins recover after the Q4 low, and fiscal 2028 estimates keep rising. A sharp decline in hyperscaler spending would ruin the thesis.

All of that capex has to be powered, cooled, and networked by somebody, and we covered seven of those suppliers in a free AI infrastructure report. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how NVIDIA could reach $350 in 2027.

Contact [email protected] for any questions or corrections.

General Motors on Thursday reported a year-over-year sales decline of 5.5%, with 670,974 new vehicles sold during the third quarter.

GM's sales of all-electric vehicles are down across the board, as enthusiasm for EVs wanes. EV demand spiked last year ahead of the Trump administration ending up to $7,500 in federal incentives for consumers to purchase an electric vehicle. During the same period last year, GM reported record sales of its electric vehicles.

Against those comparisons, EVs this year saw dramatic drops, with the Equinox EV down 92.4% during the most recent quarter, at 1,905 vehicles sold. The Blazer EV was down 84.4% and Hummer EV sales fell 72.9%.

The report comes after Cox Automotive said last week that new vehicle sales have been stronger than expected this year and raised its 2026 forecast by roughly 2%, to 16.1 million units.

Hybrid vehicle sales are expected to capture a growing market share of car sales, as inflated gas prices pressure consumers.

Despite offering a broad EV lineup, the Detroit automaker only offers one hybrid vehicle, a Corvette. Experts expect GM's weakness in the sector to impact its overall sales.

Hybrids assisted other automakers in outperforming GM in third-quarter sales.

Toyota Motor reported that its EV and hybrid vehicles made up over 57% of the Japanese automaker's sales this quarter.

Toyota said sales were up 0.6% for the most recent quarter, with 633,223 vehicles sold. Sales of its electrified vehicles, which include hybrids, were up 28.5%, with 363,367 units sold.

That helped Toyota continue to narrow its gap with U.S. sales leader GM, which is now less than 136,000 units. That compares to a full-year gap of roughly 335,000 units last year.

Cox Automotive earlier this year said if such sales trends continue, Toyota could once again overtake GM to become the U.S. sales leader in the coming years.

Honda Motor, which also offers several hybrids and leads major automakers in fuel economy in the U.S., reported a 9.3% increase in U.S. third-quarter sales. Its hybrid sales were a record of more than 106,000 units during the quarter.

"We've got really high demand for hybrids," Lance Woelfer, head of American Honda Motor's U.S. sales, told CNBC. "We're finding more and more consumers are figuring out hybrids meet their needs."

High fuel prices, with an AAA national average of $4.41, were also expected to impact sales of big trucks and SUVs, sectors that GM relies on. GM's full-size pickups were relatively flat.

Each of the automaker's brands are down so far year-to-date, led by a 25% decline in Cadillac.

GM's lower-cost vehicles are a bright spot for the company as consumers face high inflation. The Chevrolet Trailblazer was up 51% for the third quarter, while sales of Buick Envista were up 18.4% and Chevrolet Trax up 16.3%.

Despite falling sales, President of GM North American Duncan Aldred remained optimistic.

"Our business is performing very well, the launch of our next-generation full-size pickup trucks is on track, and we are making investments in new vehicles, innovative technologies, and our U.S. manufacturing footprint to drive our next phase of growth," Aldred said in a statement.

General Motors last month announced additional details about its new V-8 engines for its pickup trucks, as it attempts to maintain leadership in truck sales.

McDonald's is on pace for an eighth consecutive weekly decline, its longest such streak since the aftermath of the dot-com boom. Summary

Shares are down about 24% in 2026 as U.S. same-store sales and management’s cautious outlook weigh on sentiment.

The multinational operator of fast-food restaurants, McDonald's Corp. (MCD, Financials), is on the verge of an eighth consecutive weekly fall as investors wonder if its new approach will spur growth without unduly straining short-term cash flow.

Shares have dropped almost 24% this year and were trading at about $232 on Thursday morning. Over the previous five years, the stock had similarly decreased by around 5%.

Although CEO Chris Kempczinski's cautious outlook and weak U.S. same-store sales have contributed to the decrease, the recently revealed NEXT plan has raised more concerns.

Through 2036, McDonald's intends to help franchisees with $8.5 billion. The initiative necessitates large upfront financial investments, and the company's projected profit objectives go all the way until 2030.

Investors face a challenging trade-off as a result of this timing: McDonald's is investing to fortify its restaurant network, but the financial benefits could not be apparent for years.

The losing run will reach almost two months if equities conclude the week lower.

Next, investors will keep an eye on U.S. same-store sales, NEXT cash spending, and proof that the program will provide the 2030 margin increase.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Flare has launched Flare Confidential Compute (FCC) on Songbird, introducing infrastructure that allows smart contracts to use sensitive institutional data without publishing the underlying information onchain. The system processes private inputs inside a Trusted Execution Environment (TEE) and returns a signed result that smart contracts can independently verify.

The launch addresses a major limitation for bringing traditional financial activity onchain. Institutional information such as reserve balances, fund NAVs, collateral positions, credit information and compliance records often cannot be made public, even when blockchain applications need to verify facts derived from that data.

FCC is designed to bridge that gap. Instead of exposing the raw information, confidential data is processed privately and only the resulting conclusion is published. For example, a smart contract could verify that an asset meets a required collateral threshold without seeing the institution’s actual balances.

The first real-world application is already live with Hex Trust’s USDX stablecoin. FCC combines public reserve information with restricted cash reserve data and compares the total against USDX supply. It then produces a signed result confirming whether USDX is backed 1:1 or better, while keeping the actual private reserve balances confidential. 

The technology could extend well beyond stablecoins. Flare points to potential applications including tokenized funds that calculate verifiable NAVs from undisclosed holdings, lending protocols that combine public prices with private collateral information, and credit or compliance systems that need to verify a conclusion without revealing sensitive records. 

FCC is initially available on Songbird, Flare’s canary network, with a separate deployment on Flare planned to follow.

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Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.

AT&T (T.N), T-Mobile (TMUS.O) and Verizon (VZ.N) have appointed wireless industry veteran Paul Roth as interim chief executive of their new ​joint venture aimed at expanding satellite-enabled mobile coverage, the companies said on ‌Thursday.

The largest U.S. wireless companies said the venture -- first announced in May -- seeks to expand coverage in underserved areas across the U.S and end nearly all dead zones without mobile ​service. The plan also aims to ensure redundant connectivity during natural disasters ​and improved network performance using so-called "direct to device" satellite technology.

Some ⁠analysts also suggest the joint venture could be defensive, citing Elon Musk's SpaceX.

​SpaceX's (SPCX.O) ambition to build a full-fledged mobile service rattled investors in the U.S. wireless ​sector after the company in August outlined plans that could eventually pit Starlink against the three major U.S. telecoms.

SpaceX acquired 65 megahertz of wireless spectrum from EchoStar (ECHO.O) for $19.6 billion through ​two deals announced last year, giving Starlink airwaves to expand into mobile services.

​SpaceX President Gwynne Shotwell said in August the company will build the infrastructure needed to make ‌Starlink "a ⁠true mobile service" and expects to win "quite a few" customers from the Big Three wireless carriers.

AT&T, Verizon and T-Mobile have invested hundreds of billions of dollars over three decades to acquire spectrum licenses, build their networks, and attract and retain ​customers.

FCC Chair Brendan ​Carr told Reuters ⁠earlier this year Starlink will have the ability on its own or in partnership with traditional carriers to address the dead ​zones.

The FCC on Wednesday moved to release more spectrum ​to boost ⁠in-home satellite broadband.

"Making next-gen satellite broadband faster and more reliable will not only benefit current subscribers, but also enhance competition for all consumers -- putting downward pressure on prices ⁠in ​the home-internet marketplace," Carr said.

Under its partnership with ​T-Mobile, SpaceX uses Starlink satellites to provide direct-to-cell connectivity for compatible smartphones outside traditional cell coverage.