Track market-moving stories before they get noisy

Key Takeaways Blackbaud's AI agents target deeper customer penetration across fundraising and operational workflows.About 90% of contractual recurring revenue is tied to agreements lasting at least three years.Payments rose to $98.9 million, while five AI products are not expected to materially lift 2026 revenue. Blackbaud, Inc. (BLKB - Free Report) combines subscription software, payments and purpose-built workflows for nonprofit, education and social impact customers. That gives the company a large recurring base before its newer artificial intelligence products scale.

The investor question is whether multi-year contracts, embedded payments and cross-selling can move Blackbaud beyond modest near-term revenue growth as AI agents broaden the platform.

Blackbaud's Recurring Base Anchors VisibilityRecurring revenue increased 3.3% to $285.3 million in the second quarter and represented 98.2% of total revenue. That mix gives Blackbaud more visibility than a model that depends heavily on implementation work or other services.

Contractual recurring revenue comes from subscription and maintenance arrangements. Transactional recurring revenue is tied to activity such as payment processing and tuition management, so it can fluctuate more from period to period.

BLKB's Contract Terms Extend Revenue DurabilityBlackbaud’s contract base also supports revenue durability. Approximately 90% of contractual recurring revenue is tied to agreements lasting at least three years, while 25% is linked to terms of four years or longer.

That structure is reflected in deferred revenue of $406.4 million and roughly $1.6 billion of remaining performance obligations. These figures do not remove renewal risk, but they show a meaningful amount of contracted business already lined up for future periods.

Blackbaud's Payments Add Transactional GrowthTransactional recurring revenue increased $2.8 million to $98.9 million in the second quarter. Higher Blackbaud Integrated Payments and Tuition Management volumes added a growth channel alongside the company’s subscription base.

Payments also deepen Blackbaud’s position inside customer workflows because donation, tuition and related transactions connect directly to its software systems. Still, transaction volumes can vary between periods, making this revenue stream less predictable than contractual recurring revenue.

BLKB's AI Pipeline Expands Cross-Sell PotentialBlackbaud’s Development Agent has moved into production, adding supervised donor outreach to its product set. Early engagement results give management a basis to expand the use case across fundraising workflows.

The roadmap includes four additional agents focused on data health, admissions, digital marketing and accounts payable. Management does not expect the five AI products to contribute materially to 2026 revenue, so the near-term case rests more on adoption signals and cross-sell potential than on immediate financial impact.

Salesforce, Inc. (CRM - Free Report) provides a useful comparison because nonprofit organizations often evaluate broad customer relationship management platforms alongside purpose-built fundraising software. Paycom Software, Inc. (PAYC - Free Report) is another relevant software name for investors watching how automated workflows can support recurring application revenue.

BLKB's Neutral Signals Frame the OutlookThe bottom line is that Blackbaud has the ingredients for steadier growth, but the timing remains measured. Recurring revenue visibility, long-term contracts and payment volume growth support the model, while modest revenue expansion and renewal pressure keep the outlook balanced.

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

BLKB has a VGM Score of A. The VGM Score combines value, growth and momentum characteristics, and an A is favorable within the Zacks Style Scores framework.

For investors, the AI pipeline is best viewed as an option on deeper customer penetration. Blackbaud still needs to convert product activity into renewal strength, cross-selling and sustained revenue acceleration before the story moves beyond visibility to faster growth.

Dominion Energy (D - Free Report) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.22%. A quarter ago, it was expected that this energy company would post earnings of $0.89 per share when it actually produced earnings of $0.95, delivering a surprise of +6.74%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Dominion Energy, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $4.48 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 10.33%. This compares to year-ago revenues of $3.81 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Dominion Energy shares have added about 19% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Dominion Energy?While Dominion Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Dominion Energy was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.19 on $4.95 billion in revenues for the coming quarter and $3.57 on $18.3 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Otter Tail (OTTR - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 3.

This power company and manufacturer is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of -20%. The consensus EPS estimate for the quarter has been revised 8.9% lower over the last 30 days to the current level.

Otter Tail's revenues are expected to be $334.5 million, up 0.4% from the year-ago quarter.

Key Takeaways Cousins Properties beat Q2 FFO estimates as rental revenues and same-property NOI increased.CUZ executed 924,000 square feet of leases, with occupancy and leasing levels reaching multi-year highs.Cousins Properties raised the low end of 2026 FFO guidance following stronger leasing and transactions. Cousins Properties Inc. (CUZ - Free Report) reported second-quarter 2026 funds from operations (FFO) of 75 cents per share, beating the Zacks Consensus Estimate of 74 cents. The metric rose 7.1% from the year-ago quarter.

The results reflected strong leasing momentum, higher rental revenues and solid same-property NOI growth. Cash-basis same-property NOI advanced 5.9%, while the office portfolio ended the quarter 92.8% leased.

Rental property revenues increased 11.8% year over year to $265.7 million and surpassed the consensus mark of $263.6 million.

CUZ's Leasing Activity Supports GrowthCousins executed 924,000 square feet of office leases during the quarter. New and expansion leases accounted for 395,000 square feet, or 43% of total leasing activity.

Pricing remained favorable. Cash-basis second-generation net rent per square foot increased 9.2%, while straight-line second-generation net rent rose 26.8%. Weighted average office occupancy improved to 89.4% from 88.9% in the prior quarter.

Period-end leased space reached its highest level since the first quarter of 2020. Management also highlighted a robust late-stage leasing pipeline as trophy office fundamentals in its Sun Belt markets tightened.

Cousins' Revenue Base ExpandsTotal revenues were $268.5 million, up from $240.1 million a year earlier. Fee income climbed to $2.3 million from $0.5 million, partly supporting the top-line increase.

Rental property operating expenses rose to $84.7 million from $74.2 million. General and administrative expenses increased to $12.1 million from $9.7 million, while interest expense advanced to $47.1 million from $38.5 million.

The operating portfolio comprised 39 properties and 22.27 million rentable square feet at quarter-end.

Cousins Advances Portfolio RecyclingDuring the quarter, Cousins purchased its joint venture partner's 10% interest in 100 Mill, a 287,000-square-foot Phoenix office property, for $18.5 million.

The company also sold Research Park Plaza V, a 173,000-square-foot Austin office asset, for $42.0 million, generating the quarterly gain. After quarter-end, it sold One Eleven Congress in Austin for $208.0 million.

Cousins also acquired a preferred equity interest in the 199,000-square-foot 5th & Walsh office development in Austin after quarter-end. Its $31.5 million funding commitment is expected to be invested in 2027.

CUZ Strengthens Its Financing ProfileCousins closed a new five-year $1.2 billion unsecured credit facility, replacing a $1.0 billion facility scheduled to mature in April 2027. It also extended existing $400 million and $100 million unsecured term loans and reduced borrowing spreads.

As of June 30, 2026, cash and cash equivalents were $6.7 million, up from $6.3 million at prior quarter-end. Net debt to annualized EBITDAre was 5.57, down from 5.66 in the prior quarter, while fixed-charge coverage declined to 3.39 from 3.45.

Cousins Raises 2026 FFO GuidanceCousins raised the lower end of its 2026 FFO guidance to $2.92 per share from $2.90 while maintaining the upper end at $2.98. The midpoint increased to $2.95 from $2.94. Management attributed the revision to leasing activity that exceeded its prior forecast and recent transaction activity. The Zacks Consensus Estimate is pinned at $2.95, in line with the midpoint guidance.

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

Performance of Other Office REITsBXP, Inc. (BXP - Free Report) reported second-quarter 2026 FFO of $1.78 per share, beating the Zacks Consensus Estimate of $1.71. FFO rose 4.1% from the year-ago period. Results reflected higher occupancy and same-property NOI growth, which supported the FFO beat. Total portfolio occupancy climbed 100 basis points sequentially to 88.4%.

SL Green Realty Corp. (SLG - Free Report) delivered second-quarter 2026 FFO of $1.43, which beat the Zacks Consensus Estimate of $1.19 by 20.17%. However, FFO declined 12.3% from $1.63 in the year-ago quarter. The results reflected stronger Manhattan leasing, higher occupancy and growth in same-store cash NOI.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Ares Management (ARES - Free Report) reported $1.26 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 20.4%. EPS of $1.29 for the same period compares to $1.03 a year ago.

The reported revenue represents a surprise of -4.16% over the Zacks Consensus Estimate of $1.32 billion. With the consensus EPS estimate being $1.29, the company has not delivered EPS surprise.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Ares Management performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

FPAUM Rollforward - Ending Balance - Total: $409.92 billion versus the four-analyst average estimate of $417.14 billion.AUM Rollforward - Ending Balance - Total: $671.32 billion versus $669.87 billion estimated by four analysts on average.FPAUM Rollforward - Ending Balance - Real Assets Group: $88.61 billion versus the three-analyst average estimate of $90.7 billion.FPAUM Rollforward - Ending Balance - Secondaries Group: $31.47 billion versus $31.48 billion estimated by three analysts on average.Financial Details Segments- Other fees: $91.96 million versus $71.81 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.8% change.Financial Details Segments- Fee related performance revenues: $40.53 million compared to the $22.9 million average estimate based on four analysts. The reported number represents a change of +142.7% year over year.Financial Details Segments- Management fees: $1.03 billion versus $1.06 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.Financial Details Segments- Performance income-realized: $140.33 million versus the four-analyst average estimate of $171.57 million. The reported number represents a year-over-year change of +152.6%.Realized Income- Secondaries Group: $59.97 million compared to the $52.51 million average estimate based on two analysts. The reported number represents a change of +23.1% year over year.Realized Income- Real Assets Group: $144.4 million compared to the $121.54 million average estimate based on two analysts. The reported number represents a change of +47.9% year over year.Realized Income- Private Equity Group: $12.15 million versus $18.6 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -5.5% change.Realized Income- Credit Group: $543.81 million compared to the $558.7 million average estimate based on two analysts. The reported number represents a change of +24.9% year over year.View all Key Company Metrics for Ares Management here>>>

Shares of Ares Management have returned +6.2% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Church & Dwight (CHD - Free Report) came out with quarterly earnings of $0.89 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this maker of household and personal products would post earnings of $0.93 per share when it actually produced earnings of $0.95, delivering a surprise of +2.15%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Church & Dwight, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $1.53 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.79%. This compares to year-ago revenues of $1.51 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Church & Dwight shares have added about 16.5% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Church & Dwight?While Church & Dwight has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Church & Dwight was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.92 on $1.57 billion in revenues for the coming quarter and $3.74 on $6.18 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Kenvue (KVUE - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This consumer health company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +10.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Kenvue's revenues are expected to be $3.99 billion, up 3.9% from the year-ago quarter.

Gold (XAU/USD) struggled to make a decisive move in either direction as the persistent US Dollar (USD) weakness was offset by a widening conflict in the Middle East. July employment data from the United States (US) could trigger a big reaction in Gold, while the near-term technical outlook highlights a lack of buyer interest.

Middle East crisis caps Gold’s upsideGold started the week with a bullish gap as geopolitical tensions eased after the US announced over the weekend that it put military operations against Iran on hold and Iran also paused its retaliatory strikes. However, the yellow metal erased a portion of its daily gains later on Monday after Iran clarified that they were not engaged in direct ceasefire talks with the US.

Reports of Saudi forces joining the conflict by launching attacks on Iran-aligned groups in Iraq as retaliation to the Islamic Revolutionary Guard Corps' (IRGC) drone attacks on Saudi oil facilities pointed to a widening conflict, rather than a return to diplomacy. Additionally, Iran claimed an attack on a US military base located in Jordan. Gold turned south on Tuesday and lost more than 1% on the day.

On Wednesday, the USD came under heavy selling pressure and allowed XAU/USD to stage a rebound. Although the Federal Reserve (Fed) refrained from delivering a dovish message following the July policy meeting, the decision to leave the policy rate unchanged in the range of 3.5%-3.75% triggered a USD selloff, as markets had priced in about a 30% chance of a 25 basis points (bps) interest rate hike heading into the event, according to the CME FedWatch Tool.

Fed Chairman Kevin Warsh’s comments in the post-meeting press conference scored a 7/10 on FXS Speechtracker versus a historic 6/10, underscoring a firmer commitment to the inflation fight. The repeated insistence that “only one target and it is 2%” and “we will deliver the 2% target,” alongside remarks that inflation “cannot be cured in 9 weeks” and that the committee “will not hesitate to act,” signaled a resolute, patient hawkish stance despite acknowledging “impressive resilience” in the economy. The emphasis on trend over short-term data, higher nominal and real yields, and a robust, non-inertial policy debate pointed to a Fed comfortable with tight conditions for longer.

According to TD Securities, the latest FOMC decision to leave interest rates unchanged has supported bullion, but it was Fed Chair Kevin Warsh’s stance that proved more pivotal. The bank notes that “the FOMC held interest rates steady, but it was Fed Chair Warsh’s willingness to look through an inflation shock and steer away from data dependency that has given gold a lift higher.” Even so, TD Securities cautions that the broader policy backdrop remains a constraint, stressing that “we continue to believe that market expectations for rate hikes will keep a lid on any material bullishness across precious metals.” 

The USD continued to weaken against its major rivals on Thursday and Gold managed to close the second consecutive day in positive territory. The US Bureau of Economic Analysis (BEA) reported that the US’ Gross Domestic Product (GDP) grew at an annual rate of 1.5% in the second quarter, falling short of the market expectation and the first-quarter’s 2.1% expansion. However, the unprecedented decline seen in USD/JPY suggested that the USD weakness was most likely caused by a suspected market intervention by Japanese authorities to support the Japanese Yen, rather than a change in the underlying fundamentals of the USD. With the dust settling down on Friday and investors shifting their focus back to the Middle East, the USD staged a rebound and XAU/USD turned south, retracing a majority of its two-day rebound. 

Gold investors to stay focused on Middle East, Fed outlookThe US economic calendar will feature the Institute for Supply Management’s (ISM) Manufacturing and Services Purchasing Managers’ Index (PMI) reports on Monday and Wednesday, respectively. Ahead of Friday’s critical official employment report, however, PMI figures are unlikely to have a lasting impact on Gold’s performance. Still, the USD could struggle to find demand and help XAU/USD keep its footing in case either of the headline PMIs falls into contraction territory below 50.

Nonfarm Payrolls (NFP) rose by 57K in June and missed the market expectation of 110K by a wide margin, following three consecutive months of robust growth. A disappointing NFP print below 50K in July could revive concerns over worsening conditions in the labor market and weigh on the USD with the immediate reaction.

Conversely, a reading above 80K is likely to be seen as ‘good enough’ for the Fed to continue to prioritize taming inflation and support the USD. The CME FedWatch Tool shows that markets are currently pricing in about a 35% probability of a rate increase in September. If there is a significant upside surprise in NFP, with a print above 120K, markets could quickly position themselves for a September rate hike. Current market positioning suggests that the USD is likely to rally in this scenario and trigger another leg lower in XAU/USD heading into the weekend.

Economists at Wells Fargo anticipate a steady US labor backdrop over the coming months, noting that they “expect the job market to remain broadly stable, with payroll growth averaging ~80K per month and the unemployment rate holding near 4.2% for the remainder of the year.” While they acknowledge that the recent decline in unemployment “did not occur for the ‘right’ reasons,” Wells Fargo argues that the “sideways move in the unemployment rate signals that labor demand and supply are roughly in balance,” reinforcing the view of a jobs market that is neither overheating nor sharply weakening. 

Investors will also pay close attention to comments from Fed policymakers throughout the week, especially from Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan, who dissented by voting in favor of a rate hike in the last Fed decision.

In case policymakers voice concerns over the inflation outlook and risks posed by the prolonged conflict in the Middle East, the USD is likely to stay resilient and limit XAU/USD’s recovery attempts. On the other hand, Gold could gain traction and push higher if US central bank officials support a steady policy for longer, dampening interest rate hike expectations by citing a cooling economy on the back of the disappointing second-quarter growth data.

Analysts at Commerzbank highlight that the latest Fed decision was far from unanimous, noting that “three of the five regional Fed presidents who serve on the Federal Open Market Committee voted in favor of a rate hike,” underscoring a meaningful hawkish contingent within the FOMC. They argue that Chair Kevin Warsh “apparently assumes that the financial markets will do the Fed’s work for it,” allowing higher market yields to shoulder more of the tightening burden in the near term. However, Commerzbank cautions that this strategy has clear limits: “If inflation does not slow noticeably soon, it will not be enough to merely speak resolutely. Then the Fed will also have to take action.” 

Finally, fresh developments surrounding the crisis in the Middle East are likely to continue to impact Gold’s valuation. A retreat in military action could support the precious metal, while a further escalation and expansion of the conflict could continue to feed into global inflation fears and hurt it.

FXStreet Economic CalendarGold technical analysis: Bulls hesitateThe Relative Strength Index (RSI) indicator on the daily chart fell short of clearing the 50 neutral level, and Gold’s break above the descending trend line and the 20-day Simple Moving Average (SMA) on Thursday failed to attract technical buyers.

The $3,950-$3,920 area stays as a key technical support, where the lower limit of the descending triangle formation and the beginning point of the November-February trend align. If Gold breaks below this region, $3,800 (static level, round level) could be seen as the next bearish target ahead of $3,720 (static level).

On the upside, $4,185 (50-day SMA) could be seen as the next resistance level in case Gold manages to confirm the $4,060-$4,070 (20-day SMA, descending trend line) area as support. If the bullish momentum builds up afterward, $4,240 (Fibonacci 78.6% retracement of the November-February uptrend) could be seen as an interim resistance level before $4,380 (static level).

Gold daily chart Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

CBOE Global (CBOE - Free Report) came out with quarterly earnings of $3.56 per share, beating the Zacks Consensus Estimate of $3.45 per share. This compares to earnings of $2.46 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.19%. A quarter ago, it was expected that this holding company for the Chicago Board Options Exchange would post earnings of $3.37 per share when it actually produced earnings of $3.7, delivering a surprise of +9.79%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

CBOE, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $731.6 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.09%. This compares to year-ago revenues of $587.3 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

CBOE shares have added about 18.1% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for CBOE?While CBOE has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for CBOE was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.28 on $699.01 million in revenues for the coming quarter and $13.66 on $2.81 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Securities and Exchanges is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, OTC Markets Group Inc. (OTCM - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of +16.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

OTC Markets Group Inc.'s revenues are expected to be $32.47 million, up 6.5% from the year-ago quarter.

Imperial Oil (IMO - Free Report) came out with quarterly earnings of $3.27 per share, beating the Zacks Consensus Estimate of $2.99 per share. This compares to earnings of $1.34 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.37%. A quarter ago, it was expected that this oil and gas and petroleum products company would post earnings of $1.67 per share when it actually produced earnings of $1.41, delivering a surprise of -15.57%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Imperial Oil, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $11.6 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.18%. This compares to year-ago revenues of $8.12 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Imperial Oil shares have added about 49.2% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Imperial Oil?While Imperial Oil has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Imperial Oil was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.96 on $13.21 billion in revenues for the coming quarter and $9.60 on $42.04 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - Canadian is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Suncor Energy (SU - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.

This energy company is expected to post quarterly earnings of $2.14 per share in its upcoming report, which represents a year-over-year change of +319.6%. The consensus EPS estimate for the quarter has been revised 2.3% lower over the last 30 days to the current level.

Suncor Energy's revenues are expected to be $10.35 billion, up 20.4% from the year-ago quarter.

For the quarter ended June 2026, Brookfield Renewable Energy Partners (BEP - Free Report) reported revenue of $1.02 billion, up 4.5% over the same period last year. EPS came in at -$0.37, compared to -$0.22 in the year-ago quarter.

The reported revenue represents a surprise of -1.45% over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being -$0.35, the EPS surprise was -5.71%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Brookfield Renewable performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Actual Generation - Wind - Total: 2,128.00 GWh versus the nine-analyst average estimate of 2,441.48 GWh.Actual Generation - Hydroelectric - Brazil: 896.00 GWh versus the eight-analyst average estimate of 936.78 GWh.Actual Generation - Hydroelectric - Colombia: 1,434.00 GWh versus 1,426.12 GWh estimated by eight analysts on average.Actual Generation - Hydroelectric - Total: 5,564.00 GWh compared to the 5,724.69 GWh average estimate based on eight analysts.Actual Generation - Distributed energy & storage: 301.00 GWh compared to the 346.55 GWh average estimate based on eight analysts.Actual Generation - Utility-scale solar: 1,385.00 GWh versus 1,540.97 GWh estimated by eight analysts on average.Actual Generation - Hydroelectric - North America: 3,234.00 GWh versus 3,361.79 GWh estimated by eight analysts on average.Operating Revenue- Utility-scale solar: $137 million compared to the $154.98 million average estimate based on 10 analysts. The reported number represents a change of +8.7% year over year.Revenues- Hydroelectric: $543 million compared to the $484.33 million average estimate based on 10 analysts. The reported number represents a change of +18.8% year over year.Revenues- Wind: $141 million compared to the $192.8 million average estimate based on 10 analysts. The reported number represents a change of -3.4% year over year.Operating Revenue- Sustainable solutions: $153 million compared to the $164.48 million average estimate based on five analysts. The reported number represents a change of -14% year over year.Operating Revenue- Distributed energy & storage: $44 million compared to the $57.71 million average estimate based on five analysts. The reported number represents a change of -34.3% year over year.View all Key Company Metrics for Brookfield Renewable here>>>

Shares of Brookfield Renewable have returned -3.6% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

South Korea’s largest crypto exchange is about to introduce a lot of Korean retail traders to Conflux Network. Upbit will launch CFX trading pairs against the Korean Won, Bitcoin, and Tether simultaneously on July 31, with trading set to begin around 14:00 KST.

Three pairs at once is not the standard playbook. Most exchange listings start with a single base pair and expand later. Upbit going straight to KRW, BTC, and USDT coverage signals meaningful conviction in CFX’s liquidity potential, at least from the exchange’s perspective.

What Conflux actually is Conflux Network has a positioning that is genuinely unusual in the Layer 1 space. Founded in 2018 by academics with ties to Canadian institutions, the project describes itself as China’s only regulatory-compliant public blockchain.

That regulatory status gives Conflux a specific strategic lane. Where most global Layer 1 networks operate in a grey area with respect to Chinese regulators, Conflux sits in a sanctioned position, making it one of the few credible on-ramps for blockchain activity that wants exposure to the Chinese market without the associated legal risk.

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CFX, the network’s native token, handles transaction fees, staking, governance, and miner incentives. The token reached an all-time high of $1.70 in March 2021, and its market cap at the time of the Upbit listing announcement sat in the $212 to $213 million range.

Recent upgrades and institutional moves Conflux has not been sitting still ahead of this listing. The network integrated support for the Infini stablecoin on July 6, 2026, and brought on Fireblocks for institutional custody starting in June 2026.

Fireblocks is one of the most widely used institutional digital asset infrastructure providers, and its involvement signals that Conflux is actively courting the type of capital that requires enterprise-grade custody before it will touch a token.

The bigger technical event is still coming. The Conflux 3.0 upgrade, anticipated in August 2026, targets transaction throughput of 15,000 transactions per second.

The timing is notable. A major exchange listing at the end of July, followed by a significant protocol upgrade in August, creates a sequence that the market will be watching closely.

Why the Upbit listing matters for CFX Upbit, operated by Dunamu, is South Korea’s dominant exchange by trading volume. Korean retail participation in crypto markets is historically intense, and KRW-denominated trading pairs on Upbit tend to generate significant volume spikes around listing events.

What the listing does unambiguously provide is liquidity infrastructure. CFX holders in Korea now have a direct KRW exit ramp, which lowers friction for both buying and selling.

The three-pair structure also matters for arbitrage dynamics. CFX/KRW, CFX/BTC, and CFX/USDT trading simultaneously on Upbit creates multiple pricing references that traders will actively align across markets. That cross-pair activity typically contributes to price discovery and can reduce the spread between Upbit’s CFX price and CFX prices on other global venues.

Conflux’s regulatory positioning in China also remains a double-edged factor. It is a genuine differentiator, but Chinese regulatory environments have a track record of changing faster than most blockchain roadmaps can adapt to. Investors pricing in the China angle should treat that compliance status as an asset that requires ongoing maintenance rather than a permanent moat.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The upcoming report from Uber Technologies (UBER - Free Report) is expected to reveal quarterly earnings of $0.83 per share, indicating an increase of 31.8% compared to the year-ago period. Analysts forecast revenues of $14.21 billion, representing an increase of 12.3% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

Bearing this in mind, let's now explore the average estimates of specific Uber metrics that are commonly monitored and projected by Wall Street analysts.

Analysts predict that the 'Revenue- Mobility' will reach $7.62 billion. The estimate indicates a year-over-year change of +4.6%.

Analysts expect 'Revenue- Freight' to come in at $1.32 billion. The estimate indicates a change of +4.3% from the prior-year quarter.

The consensus among analysts is that 'Revenue- Delivery' will reach $5.22 billion. The estimate indicates a year-over-year change of +27.1%.

The average prediction of analysts places 'Geographic Revenue- Latin America' at $978.07 million. The estimate suggests a change of +24% year over year.

Analysts' assessment points toward 'Geographic Revenue- United States and Canada' reaching $7.38 billion. The estimate indicates a year-over-year change of +12.5%.

The combined assessment of analysts suggests that 'Geographic Revenue- Asia Pacific' will likely reach $2.02 billion. The estimate suggests a change of +43.7% year over year.

It is projected by analysts that the 'Geographic Revenue- Europe, Middle East and Africa' will reach $3.89 billion. The estimate suggests a change of -0.3% year over year.

The collective assessment of analysts points to an estimated 'Gross Bookings - Total' of $57.19 billion. Compared to the present estimate, the company reported $46.76 billion in the same quarter last year.

The consensus estimate for 'Monthly Active Platform Consumers (MAPCs)' stands at 206 . The estimate compares to the year-ago value of 180 .

Analysts forecast 'Trips' to reach 3,902 . Compared to the current estimate, the company reported 3,268 in the same quarter of the previous year.

According to the collective judgment of analysts, 'Gross Bookings - Delivery' should come in at $26.93 billion. Compared to the current estimate, the company reported $21.73 billion in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Gross Bookings - Mobility' should arrive at $28.97 billion. The estimate compares to the year-ago value of $23.76 billion.

View all Key Company Metrics for Uber here>>>

Over the past month, Uber shares have recorded returns of -5.5% versus the Zacks S&P 500 composite's -0.5% change. Based on its Zacks Rank #3 (Hold), UBER will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

FN Media Group Presents Oilprice.com Market Commentary

, /PRNewswire/ -- This is where China's rare earth magnet monopoly ends. REalloys (ALOY) has signed a strategic agreement with permanent magnet manufacturer JS Link to develop one of the first fully integrated non-Chinese rare earth magnet platforms, bringing together feedstock, separation, metallization, and permanent magnet manufacturing under a single North American industrial strategy.  Companies mentioned in today's commentary includes:  Realloys Inc. (ALOY), Apple Inc. (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), General Motors Company (NYSE: GM), Western Digital Corporation (NASDAQ: WDC), NVIDIA (NASDAQ: NVDA).

Permanent magnets power guided missiles, fighter aircraft, submarines, industrial robots, electric vehicles, AI infrastructure, and wind turbines. China manufactures the overwhelming majority of them, giving Beijing extraordinary leverage over industries now driving military modernization, advanced manufacturing and the global energy transition. The agreement creates a path to manufacturing American rare earth magnets entirely on American soil.

Rebuilding North America's rare earths supply chain is now moving at breakneck speed.  Only weeks ago, REalloys was selected by the U.S. Army for exclusive negotiations to develop heavy rare earth processing facilities at the Tooele Army Depot in Utah, placing the company at the center of Washington's effort to rebuild domestic rare earth processing and ahead of the Department of Defense's January 1, 2027, ban on Chinese-origin rare earth magnets. Today's announcement carries that strategy one step further, extending it beyond processing into finished magnet manufacturing.

The U.S. Army project established the processing backbone. JS Link adds permanent magnet manufacturing. Together, they place every major stage of rare earth production–from feedstock through finished magnets–inside a single American industrial platform.

"In rare earths, strategic advantage belongs to the country that builds the magnets. That's the capability we're building here in the United States," REalloys CEO Lipi Sternheim told Oilprice.com.

Building the Most Important Industrial Base of the Century

The JS Link agreement adds the final manufacturing capability. REalloys had already assembled much of the industrial chain, securing feedstock, rare earth processing, and heavy rare earth metallization before moving into permanent magnet manufacturing.

The center of that buildout is Saskatchewan. REalloys committed approximately $20.6 million to expand the Saskatchewan Research Council's rare earth processing facility, securing preferred rights to up to 80% of its expanded output, including neodymium-praseodymium metal and separated dysprosium and terbium oxides. Commercial production is targeted to begin in early 2027.

Separated oxides are still an intermediate product. Before they can become permanent magnets, they must first be converted into high-purity metals, alloyed, and then manufactured into finished magnets.

REalloys is building that next stage as well. The company is funding a dedicated heavy rare earth metallization facility that will convert dysprosium and terbium oxides into metals, creating what is expected to become the largest heavy rare earth metallization operation outside China.

The first qualification-scale materials are expected in the fourth quarter of 2026. That would place North American-produced dysprosium, terbium and NdPr into customers' hands for evaluation ahead of commercial production, moving the project from industrial construction into the final stage before commercial sales. And feedstock is already secured. REalloys (ALOY) holds a definitive long-term offtake agreement for 15% of Phase 1 production from Critical Metals' Tanbreez project in Greenland, a strategic alliance and offtake commitment tied to the Sheep Creek rare earth deposit in Montana, and a proposed supply framework with Ramaco Resources for coal-hosted rare earth material from the Brook Mine platform in Wyoming.  And the company continues to pursue additional supply from domestic and allied sources.

The Front-Line of Defense for an All-Out Industrial War

American rare earth companies are now operating under the assumption that access to Chinese materials can disappear overnight. Beijing is now trying to police Chinese-origin materials after they leave China. Its latest export controls prohibit foreign companies and individuals worldwide from supplying designated American firms with certain dual-use products, including rare earth producer MP Materials and rare earth magnet manufacturer USA Rare Earth.

This is not simply about blocking exports from Chinese companies. Beijing instructed organizations and individuals worldwide to suspend existing transactions and stop transferring designated Chinese-origin dual-use materials to the targeted American firms.

In effect, the restrictions follow the material itself rather than the exporter, an approach that gives Beijing another layer of influence over global supply chains built around Chinese processing.  China's Commerce Ministry justified the move on national security grounds, describing it as a response necessary to protect China's strategic interests and fulfill its international non-proliferation obligations. That puts pressure on every Western supply chain still dependent on Chinese processing, metallization, or magnet manufacturing.

For most of the past three decades, the United States assumed global supply chains would remain open regardless of geopolitical tensions. But now, export controls, procurement rules, sanctions, and investment restrictions are becoming permanent features of the industrial economy.

In that environment, companies capable of producing defense-qualified rare earth materials entirely within North America occupy a different place in the industrial landscape than they would have only a few years ago.  They are no longer simply suppliers. They are becoming part of the infrastructure supporting the next generation of American defense manufacturing.

An integrated American rare earth industry is now taking shape years faster than anyone expected. An industrial base that took China decades to build is now being reconstructed across North America in just a few years, and REalloys is now part of the frontline of defense in the biggest industrial war of our time.

Other companies working on fighting China's rare earth dominance:

Apple (AAPL) has emerged as the clear leader among big tech companies in rare earth magnet recycling, having pioneered the use of recycled rare earth elements in consumer electronics as far back as 2019, when it introduced them in the Taptic Engine of the iPhone 11. Today, nearly all magnets across Apple's device lineup are made with 100% recycled rare earth elements, a milestone the company has nearly achieved across its entire portfolio.

In July 2025, Apple formalized its commitment with a landmark $500 million partnership with MP Materials, the only fully integrated rare earth producer in the United States, to source American-made recycled rare earth magnets for hundreds of millions of Apple devices.

Microsoft (MSFT) has taken a multi-pronged approach to rare earth recycling, targeting the enormous volume of hard disk drives retired from its global Azure data center infrastructure. In April 2025, Microsoft announced a pilot program in collaboration with Western Digital, Critical Materials Recycling, and PedalPoint Recycling that successfully processed approximately 50,000 pounds of shredded end-of-life hard drives, recovering rare earth elements such as neodymium, praseodymium, and dysprosium — along with gold, copper, aluminum, and steel — using an acid-free chemical process.

Beyond its data center recycling efforts, Microsoft has embedded rare earth recycling into its Surface hardware product line, with new Surface Copilot+ PCs now featuring 100% recycled rare earth metals in their magnets. The company operates six global Circular Centers and achieved a 90.9% reuse and recycling rate for its Azure hardware in FY2024, exceeding its 2025 target ahead of schedule.

General Motors (GM) has been one of the earliest and most strategically significant automotive partners in the domestic rare earth magnet supply chain, entering into a long-term agreement with MP Materials in December 2021 to source U.S.-produced rare earth magnets for its Ultium Platform electric vehicle motors. The partnership covers GM's expanding EV lineup — including the GMC HUMMER EV, Cadillac LYRIQ, and Chevrolet Silverado EV.

GM and MP Materials have also committed to exploring novel end-of-life, closed-loop recycling approaches that would eventually allow rare earth materials from retired EV motors to be recovered and reprocessed into new magnets. In addition, GM Ventures has invested in Niron Magnetics, a startup developing a rare-earth-free magnet technology based on iron nitride, as a hedge to further reduce dependence on critical minerals.

Western Digital (WDC), one of the world's largest hard disk drive manufacturers, has taken a leading role in developing scalable rare earth recovery from its own products at end of life. In April 2025, Western Digital announced a successful at-scale pilot program conducted in collaboration with Microsoft, Critical Materials Recycling, and PedalPoint Recycling, in which approximately 50,000 pounds of shredded end-of-life hard drives were processed using an environmentally friendly, non-acid chemical extraction method to recover rare earth oxides alongside gold, copper, aluminum, and steel.

Western Digital views this initiative as a blueprint for transforming the global HDD recycling industry, with the potential to significantly offset U.S. dependence on virgin rare earth mining when scaled worldwide. By partnering with downstream processors and data center operators, Western Digital is helping to establish a feedstock network that feeds recovered rare earths back into the U.S. supply chain for applications in electric vehicles, wind turbines, and advanced electronics.

NVIDIA (NASDAQ: NVDA) is currently less about "using" rare earths and more about "transforming" how they are extracted. At CES 2026, they doubled down on their partnership with Caterpillar, revealing a fleet of autonomous mining machines powered by the NVIDIA Jetson Thor platform. These machines use edge-AI to perform real-time mineral sorting, identifying high-grade rare earth ores at the point of extraction. This reduces the energy-intensive processing of waste rock, making domestic mining more economically viable against lower-cost overseas rivals.

The company's stock remains the absolute heavyweight of the AI era, though early 2026 has seen some "AI fatigue" sell-offs as the market waits for the full rollout of the Vera Rubin architecture. Despite this, NVIDIA's data center revenue continues to defy gravity, largely because their chips are the mandatory "toll booth" for every major AI project. Their software ecosystem, specifically Omniverse, is also being used by mineral refiners to create digital twins of separation facilities, optimizing the complex chemical processes needed to reach 99.9% purity for rare earth oxides.

Beyond the software, NVIDIA's high-performance hardware—like the Blackwell and the upcoming Rubin GPUs—relies on high-speed networking and storage that utilize precision neodymium magnets. However, NVIDIA's real market-moving power is in its "AI Factory" concept. By automating the mining sector, they are effectively providing the brainpower that helps the West rebuild a critical mineral supply chain that was almost entirely lost to international competitors over the last three decades.

By. Charles Kennedy

The AI boom is triggering an unexpected and unprecedented bull run in natural gas and power  stocks. If you aren't paying attention to the energy demands of data centers, you will miss the biggest energy story of the decade. The smart money is already quietly moving into the few companies prepared to power the trillion-dollar AI machine.

Oilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market's biggest growth driver with analysis from veteran oilmen and experts. Click here to get this crucial intel for free

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This press release was distributed on behalf of REalloys (ALOY)

DISCLAIMER:  OilPrice.com is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein.  The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty four hundred dollars by REalloys to distribute this release on behalf of the company.  #tickertagpressreleases #pressrelease #stockalerts

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Posted by Defense World Staff on Jul 31st, 2026

Bank of America Corp DE grew its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,761,355 shares of the coffee company’s stock after buying an additional 1,300,085 shares during the quarter. Bank of America Corp DE owned 1.38% of Starbucks worth $1,412,060,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Starbucks by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company’s stock valued at $9,634,523,000 after acquiring an additional 971,773 shares during the period. Capital World Investors lifted its holdings in shares of Starbucks by 9.0% during the fourth quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock valued at $7,135,228,000 after acquiring an additional 7,007,268 shares during the period. State Street Corp boosted its stake in shares of Starbucks by 0.7% in the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company’s stock valued at $4,031,053,000 after purchasing an additional 327,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company’s stock valued at $2,212,153,000 after purchasing an additional 225,168 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock worth $1,637,704,000 after purchasing an additional 7,725,547 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance Shares of SBUX stock opened at $105.85 on Friday. The firm’s 50 day moving average price is $102.19 and its two-hundred day moving average price is $99.04. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $109.23. The stock has a market cap of $120.64 billion, a PE ratio of 60.83, a PEG ratio of 2.07 and a beta of 0.98.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its earnings results on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.66 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 33.44%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, sell-side analysts predict that Starbucks Corporation will post 2.41 earnings per share for the current fiscal year.

Starbucks Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Starbucks’s dividend payout ratio is currently 187.88%.

Analyst Upgrades and Downgrades SBUX has been the subject of a number of recent analyst reports. Guggenheim reiterated a “neutral” rating and set a $97.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird set a $124.00 price objective on shares of Starbucks in a research note on Thursday. TD Cowen reaffirmed a “buy” rating and set a $120.00 price objective on shares of Starbucks in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, April 29th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.04.

Check Out Our Latest Research Report on Starbucks

More Starbucks News Here are the key news stories impacting Starbucks this week:

Positive Sentiment: Starbucks reported adjusted Q3 earnings of $0.85 per share, well above the $0.66 analyst consensus, while revenue of $9.32 billion also exceeded expectations. Adjusted EPS increased sharply from $0.50 a year earlier. Reuters article Positive Sentiment: Global comparable-store sales rose 7.9%, beating the 5.7% expectation, driven primarily by a 4.2% increase in transactions. North American revenue reportedly climbed 7% to $7.4 billion, reinforcing the view that traffic—not merely higher prices—is powering the recovery. Starbucks Q3 results Positive Sentiment: Management raised fiscal 2026 adjusted EPS guidance to $2.55-$2.65, from $2.25-$2.45, and now expects full-year global comparable sales growth of approximately 6%. Expanding margins and faster service are supporting investor confidence in the turnaround. Starbucks turnaround and outlook Positive Sentiment: Analyst reactions were generally supportive: TD Cowen reaffirmed a Buy rating with a $120 target, while Wells Fargo raised its target to $125 and Morgan Stanley lifted its target to $115. Starbucks is also testing carbonated versions of its Refreshers, expanding its non-coffee product lineup for younger consumers. Starbucks carbonated Refreshers Neutral Sentiment: Analyst opinions remain mixed. UBS, Citigroup and DA Davidson raised targets to $112, $112 and $110 while maintaining neutral ratings; Wolfe Research kept a Hold rating. BNP Paribas Exane raised its target to $92 but retained an Underperform rating, citing limited upside. Negative Sentiment: Despite the operational improvement, revenue declined 1.4% year over year, partly reflecting the China joint-venture structure, and the shares trade at a high valuation after their recent rally. That valuation leaves less room for execution missteps or a slowdown in comparable sales growth. Insider Buying and Selling In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $104.00, for a total value of $231,816.00. Following the transaction, the chief executive officer owned 77,364 shares of the company’s stock, valued at approximately $8,045,856. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock valued at $679,033 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Starbucks Company Profile (Free Report)

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.

Featured Stories Five stocks we like better than Starbucks Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX – Free Report).

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Colgate-Palmolive (CL - Free Report) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.21%. A quarter ago, it was expected that this consumer products maker would post earnings of $0.95 per share when it actually produced earnings of $0.97, delivering a surprise of +2.11%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Colgate-Palmolive, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $5.36 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.20%. This compares to year-ago revenues of $5.11 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Colgate-Palmolive shares have added about 15.9% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Colgate-Palmolive?While Colgate-Palmolive has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Colgate-Palmolive was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.91 on $5.35 billion in revenues for the coming quarter and $3.81 on $21.39 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, BBB Foods (TBBB - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12.

This discount retailer is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -38.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

BBB Foods' revenues are expected to be $1.42 billion, up 47.5% from the year-ago quarter.

Caterpillar stock has pulled back substantially, moving from the year-to-date high of $1,073 to the current $809. It has dropped in the past six consecutive weeks, its longest streak in years. This article explores whether the CAT stock will continue its strong downtrend as its earnings loom.

CAT shares have been in a strong freefall in the past few weeks as investors have dumped the top AI winners. 

While Caterpillar is known for its large machines, it has also become a big name in the artificial intelligence industry because of its power generation business, which has become its fastest-growing one. Its generators are used widely across data centers in the United States and other countries.

The most recent results showed that Caterpillar’s power and energy segment made over $7 billion in sales, up by 22% from the same period last year. Its profit jumped to $1.45 billion, while its profit increased $162 million. 

This business will likely continue growing in the foreseeable future as large technology companies have hinted that they will continue spending. Alphabet, the parent company of Google and YouTube, announced that it would spend over $205 billion in spending. 

Microsoft, Oracle, OpenAI, and Tesla are also continuing their spending, which will lead to more demand for power equipment over time. 

The construction segment also grew substantially in the first quarter, hitting $7.2 billion from $5.2 billion in the same period last year. Its segment profit jumped to $1.5 billion. 

The resource segment, which provides equipment used in the mining industry, made $3.8 billion in revenue, while its profit dropped to $378 million. In total, Caterpillar ended the quarter with a record revenue backlog of $63 billion, a 79% annual increase.

Looking ahead, Caterpillar stock will next react to the upcoming earnings, with analysts expecting its revenue growth to continue. The average estimate among analysts is that its revenue grew by 16% in the second quarter to $19.2 billion. For the year, analysts expect the revenue figure to come in at $76.6 billion, up by 13% YoY. Caterpillar’s earnings per share is expected to move from $4.72 last year to $6.2. 

The company faces some major challenges. For one, it is highly overvalued, with the forward price-to-earnings ratio being 32. It has remained above other popular companies like Micron and Nvidia. 

At the same time, there is a risk that the company will struggle as investors start rotating from AI winners to companies that have struggled.

Caterpillar stock chart | Source: TradingView

The daily chart shows that the Caterpillar share price has been in a strong sell-off in the past few weeks, as we predicted. It has dropped from the year-to-date high of $1,073 to the current $840. It remains above the important support level of $765, the 38.2% Fibonacci Retracement level. 

The stock has also found support at the 200-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) moved to 40. Therefore, the stock will likely be highly volatile after its earnings. The options market suggests that investors are positioning to the upside, with the put/call option of 0.95, suggesting an upside.

Federal Realty Investment Trust (FRT - Free Report) came out with quarterly funds from operations (FFO) of $1.88 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to FFO of $1.91 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +1.62%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.82 per share when it actually produced FFO of $1.88, delivering a surprise of +3.3%.

Over the last four quarters, the company has surpassed consensus FFO estimates three times.

Federal Realty Investment Trust, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $335.71 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.66%. This compares to year-ago revenues of $311.52 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Federal Realty Investment Trust shares have added about 23.1% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Federal Realty Investment Trust?While Federal Realty Investment Trust has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Federal Realty Investment Trust was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $1.87 on $340.05 million in revenues for the coming quarter and $7.52 on $1.36 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Retail is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Macerich (MAC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.

This shopping center real estate investment trust is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +3.1%. The consensus EPS estimate for the quarter has been revised 0.3% higher over the last 30 days to the current level.

Macerich's revenues are expected to be $241.87 million, down 3.2% from the year-ago quarter.

LyondellBasell (LYB - Free Report) came out with quarterly earnings of $4.3 per share, beating the Zacks Consensus Estimate of $3.56 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +20.79%. A quarter ago, it was expected that this oil refiner and chemical company would post earnings of $0.31 per share when it actually produced earnings of $0.49, delivering a surprise of +58.06%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

LyondellBasell, which belongs to the Zacks Chemical - Diversified industry, posted revenues of $9.18 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.11%. This compares to year-ago revenues of $7.66 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

LyondellBasell shares have added about 39.6% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for LyondellBasell?While LyondellBasell has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for LyondellBasell was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.65 on $8.8 billion in revenues for the coming quarter and $8.57 on $32.5 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Diversified is currently in the bottom 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Chemours (CC - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.

This chemical company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -25.9%. The consensus EPS estimate for the quarter has been revised 4.4% lower over the last 30 days to the current level.

Chemours' revenues are expected to be $1.67 billion, up 3.7% from the year-ago quarter.

Posted by Defense World Staff on Jul 31st, 2026

Amundi grew its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 995,120 shares of the company’s stock after acquiring an additional 94,649 shares during the quarter. Amundi owned about 0.06% of Philip Morris International worth $164,533,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital International Investors increased its position in shares of Philip Morris International by 13.7% in the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company’s stock worth $16,262,967,000 after acquiring an additional 12,227,004 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Philip Morris International by 25.3% during the 4th quarter. Capital Research Global Investors now owns 54,559,706 shares of the company’s stock valued at $8,751,407,000 after acquiring an additional 11,013,173 shares in the last quarter. Capital World Investors lifted its holdings in shares of Philip Morris International by 2.8% during the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company’s stock valued at $21,230,315,000 after acquiring an additional 3,579,399 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 36.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,301,112 shares of the company’s stock worth $1,491,898,000 after purchasing an additional 2,475,204 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Philip Morris International by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company’s stock valued at $23,300,088,000 after purchasing an additional 1,793,949 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In PM has been the topic of a number of recent research reports. Barclays boosted their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a “buy” rating in a report on Friday, July 24th. Citigroup boosted their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus upped their price target on Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Needham & Company LLC increased their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.89.

Get Our Latest Stock Report on PM

Philip Morris International Stock Performance NYSE:PM opened at $192.12 on Friday. The stock has a market cap of $299.44 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.38. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $207.76. The business’s 50-day simple moving average is $183.34 and its 200 day simple moving average is $176.67.

Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.15. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.Philip Morris International’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, June 25th. Philip Morris International’s dividend payout ratio is 84.48%.

Philip Morris International Company Profile (Free Report)

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

See Also Five stocks we like better than Philip Morris International Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes

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Contract strengthens global F135 support and advances readiness

, /PRNewswire/ -- Pratt & Whitney, an RTX (NYSE: RTX) business, has been awarded a nearly $1.3 billion undefinitized contract for F135 engine spare parts. The F135 powers all three variants of the F-35 Lightning II, the world's most advanced fighter aircraft.

The Indefinite Delivery, Indefinite Quantity (IDIQ) contract will fund fiscal year 2026 F135 initial spare parts requirements, deployable spare packages, depot lay-ins and associated support equipment in support of U.S. and international F-35 customers.

"Ensuring the F135 remains mission-ready is critical to the success of the F-35 enterprise," said Chris Johnson, vice president of Pratt & Whitney's F135 Program. "This contract will help strengthen our global sustainment network to ensure operators around the world can continue to rely on the F135's unmatched performance."

The F135 sustainment enterprise maintains a robust global network that includes multiple depot facilities and support for 42 bases and 13 ships worldwide. Through its extensive maintenance, logistics and technical capabilities distributed across the globe, Pratt & Whitney continues to advance the F135 enterprise to provide enhanced agility and mission-critical support wherever the F-35 fleet operates.

Pratt & Whitney has delivered more than 1,500 F135 production engines to a worldwide customer base spanning 20 allied nations. The forthcoming F135 Engine Core Upgrade, the selected propulsion modernization solution for the F-35, will leverage the established F135 sustainment network to provide global F-35 operators with proven, cost-effective sustainment. This modernization solution enhances fleet readiness and provides seamless, long-term capability for decades to come.

About Pratt & Whitney 
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

Item 1 of 2 A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

[1/2]A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesAnalysts long-term support from stablecoins, retail derivatives Coinbase shares have lost nearly 28% YTDBusiness mix keeps improving, analyst saysJuly 31 (Reuters) - Shares of Coinbase Global (COIN.O), opens new tab slipped 5.6% ​in premarket trading on Friday after a third straight quarterly loss, though analysts ‌expect strong fundamentals and business diversity to cushion it from a crypto cycle downturn.

The cryptocurrency market lost significant value in recent sessions, with bitcoin falling, as expectations that the U.S. Federal Reserve ​will cut interest rates faded and investors pulled money from spot exchange-traded ​funds.

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Bitcoin, the world's largest cryptocurrency, has lost a little over 27% ⁠value so far in 2026. Shares of Coinbase, often tied to the crypto cycle, ​have matched that with a nearly 28% decline.

The fall came after higher-than-expected inflation data ​reinforced expectations that the central bank would keep rates elevated for longer, weighing on risk-sensitive assets such as cryptocurrencies.

"Overall, crypto trading conditions remain challenging, and with limited visibility into when/if trading volumes will ​recover," analysts at Raymond James said.

GAINING GROUND ON SHAKY SOILAnalysts pegged the quarterly ​loss to the crypto cycle, believing that its business fundamentals remain good and Coinbase would be at ‌the ⁠center of any possible crypto market recovery.

"The company posted its third consecutive quarter of record crypto trading market share at 10.3%, proving it continues to take share even in a softer crypto environment," said David Bartosiak, Stock Strategist at Zacks Investment Research.

"More ​importantly, the business mix ​keeps improving."

The company ⁠has diversified its revenue stream and moved away from spot Bitcoin trading to guard against such downturns. It is actively rowing ​the shores of stablecoins and retail derivatives, which could support its ​business long-term.

Coinbase ⁠and prediction markets platform Kalshi said in May that they were introducing perpetual crypto futures, marking the debut of such instruments to U.S. investors through domestic, regulated exchanges.

"We are ⁠encouraged ​that Coinbase is diversifying its business and think investors ​will applaud derivatives-driven share gains," William Blair said in a note. Its analysts believe that now is ​the time to buy Coinbase shares.

Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das

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

CN concludes 2025-2026 crop year with record grain movements across its network July 31, 2026 10:00 ET  | Source: Canadian National Railway Company

MONTREAL, July 31, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today published its 2026-2027 Grain Plan outlining how the company will continue delivering safe, reliable, and efficient service to support Canada’s agricultural sector and strengthen the country’s grain supply chain.

As the 2025-2026 crop year concludes, CN is pleased to have achieved 10 months of record grain movement across its network. This performance reflects the collaboration among producers, grain companies, terminals, customers and CN railroaders to manage capacity and ensure the resiliency of Canada’s integrated grain supply chain.

"Every crop year presents new challenges and opportunities, but our focus remains constant: operating safely, delivering reliably for our customers and keeping the grain supply chain moving. Our Grain Plan reflects years of investment in our network and the importance of working closely with customers and supply chain partners. When we plan together, we perform better, helping ensure Canadian grain reaches domestic and global markets efficiently and reliably."

      -      Tracy Robinson, President and Chief Executive Officer, CN

Highlights from the 2026–2027 Grain Plan include:

Prepared to Meet Demand: CN anticipates shipments of 30 to 33 million metric tonnes (MMT) of grain and processed grain products during the 2026–2027 crop year compared to crop year maximum sustainable end-to-end grain supply chain capacity of 36.7 MMT. CN has the people, equipment, and operating plan to meet the anticipated demand.Supply Chain Collaboration: CN recognizes that reliable grain movement depends on close coordination among farmers, country elevators, processors, railways, ports, terminals, vessel operators, customers and governments. The company remains committed to working collaboratively across the supply chain to improve overall.Transparency and Accountability: CN will continue providing weekly public performance metrics and monthly reporting to customers, government and other stakeholders, supporting transparency throughout the crop year.Ready to Adapt: While confident in its ability to meet customer demand, CN remains prepared to adapt to changing market conditions throughout the crop year while maintaining a safe and fluid railway. The 2026–2027 Grain Plan reinforces CN’s long-standing commitment to Canadian agriculture and to supporting Canada’s competitiveness in global markets. Through disciplined planning, strategic investments and collaboration across the supply chain, CN continues to help move Canadian grain safely and efficiently to customers globally.

For more information and to access the full 2026–2027 CN Grain Plan, visit www.cn.ca/grain.

About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

Contacts:

MediaInvestment CommunityAshley MichnowskiJamie LockwoodSenior ManagerVice-PresidentMedia RelationsInvestor Relations & Special Projects(438) 596-4329(514) [email protected]@cn.ca

Cameco (CCJ - Free Report) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -50.00%. A quarter ago, it was expected that this uranium producer would post earnings of $0.29 per share when it actually produced earnings of $0.34, delivering a surprise of +17.24%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Cameco, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $588.02 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 10.04%. This compares to year-ago revenues of $633.83 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Cameco shares have lost about 3.6% since the beginning of the year versus the S&P 500's gain of 8.7%.

What's Next for Cameco?While Cameco has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Cameco was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $494.94 million in revenues for the coming quarter and $1.34 on $2.39 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, BKV (BKV - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This natural gas producer is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of -18%. The consensus EPS estimate for the quarter has been revised 1.6% lower over the last 30 days to the current level.

BKV's revenues are expected to be $319.25 million, down 0.9% from the year-ago quarter.

Key Takeaways PSKY expects Q2 revenues of $6.75B-$6.95B, ranging from flat to down 1% year over year.Paramount's Direct-to-Consumer business is expected to benefit from content and AI adoption.PSKY's Warner Bros. Discovery integration planning remained a key strategic focus. Paramount Skydance Corporation (PSKY - Free Report) is scheduled to report its second-quarter 2026 results on Aug. 4.

For the second quarter of 2026, the company expects total revenues between $6.75 billion and $6.95 billion, flat to down 1% year over year.

The Zacks Consensus Estimate for revenues is pegged at $6.88 billion, indicating a 0.5% increase from the year-ago quarter’s reported figure.

The consensus mark for earnings is pegged at 15 cents per share, down from 46 cents reported in the prior year quarter. The estimate has remained unchanged over the past 30 days.

PSKY surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters, while missing once, with an average negative surprise of 144.82%.

Let us see how things are shaping up for the upcoming announcement.

Factors to ConsiderParamount is expected to have entered the second quarter of 2026 with improving streaming and studio momentum, following a first quarter that saw healthy Direct-to-Consumer growth, expanding studio revenues and continued execution of its technology transformation strategy. Paramount+ benefited from stronger subscriber engagement and monetization in the preceding quarter, while ongoing investments in advertising technology, AI-driven workflows and streaming platform integration are expected to have provided a favorable backdrop heading into the period.

The Direct-to-Consumer segment is expected to have remained the primary growth driver during the quarter, supported by a robust content slate. The premiere of Dutton Ranch, the Taylor Sheridan-led continuation of the Yellowstone universe, is likely to have anchored engagement throughout the period, alongside UFC 328, the Survivor Season 50 finale, the streaming debut of Scream 7 following its theatrical run and the Tony Awards broadcast. Continued integration of Paramount+, Pluto TV and BET+ onto a unified technology platform is also expected to have improved personalization, content discovery and advertising capabilities. Broader AI adoption across engineering and operational functions is likely to have supported efficiency gains.

The TV Media segment is expected to have remained under pressure, with affiliate revenues likely declining further amid ongoing pay-TV subscriber erosion, although premium sports programming and CBS' entertainment lineup are expected to have provided partial support. Meanwhile, the Studios business is expected to have moderated from the prior quarter's theatrical strength due to a lighter release slate, partially offset by continued third-party television production and content licensing activities.

The pending Warner Bros. Discovery acquisition is expected to have remained a key strategic focus during the quarter. Ongoing financing activities, integration planning and transaction-related professional fees are likely to have added to operating expenses, while shareholder approval and financing milestones reinforced progress toward the company's targeted third-quarter 2026 close.

What Our Model Says for PSKYPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

PSKY currently has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Stocks to ConsiderHere are some companies worth considering, as our model shows that these have the right combination of elements to beat earnings in their upcoming releases:

Sweetgreen (SG - Free Report) currently has an Earnings ESP of +11.54% and carries a Zacks Rank #2. SG shares have returned 4.6% in the past six-month period. SG is set to report its second-quarter 2026 results on Aug. 6. You can see the complete list of today’s Zacks #1 Rank stocks here.

Groupon (GRPN) has an Earnings ESP of +4.00% and a Zacks Rank #3 at present. GRPN shares have surged 92.3% in the past six-month period. GRPN is set to report its second-quarter 2026 results on Aug. 6.

Portillo's Inc. (PTLO - Free Report) presently has an Earnings ESP of +3.85% and a Zacks Rank #3. PTLO shares have declined 15.8% in the past six-month period. PTLO is slated to report its second-quarter 2026 results on Aug. 5.

, /PRNewswire/ -- BallardPowerSystems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the second quarter ended June 30, 2026. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards(IFRS).

Highlights (comparisons are to Q2 2025):

Revenue of $21 million, up 15% year-over-year. Achieved 20% Gross Margin, an increase of 28-points year-over-year. Entered into a definitive agreement to acquire GeoPura Limited for £275 million in upfront consideration, subject to customary closing conditions and regulatory approvals. Acquisition is expected to close later in the year and would establish Ballard as an energy-as-a-service provider. Order intake of $64 million strengthened the Company's order backlog to $157 million. Ended Q2 2026 with $502 million in cash and cash equivalents, compared with $550 million at the end of Q2 2025. "This quarter marks a transformative milestone for Ballard, highlighted by our announced agreement to acquire GeoPura," said Marty Neese, Ballard's President and CEO. "The acquisition is anticipated to represent a significant step forward in our strategy by combining Ballard's industry-leading fuel cell technology with GeoPura's proven energy-as-a-service and hydrogen genset leasing model. Beyond expanding our market opportunities, we expect the transaction to strengthen our revenue visibility and increase our exposure to recurring service-based revenues in the growing market for competitive off-grid alternative power gensets. Following the forecasted acquisition completion, the realization of strategic and commercial benefits are expected to support our objective of achieving profitability by the end of 2027."

Mr. Neese continued, "We also marked the fourth consecutive quarter of positive and improving gross margins, underscoring our disciplined approach toward commercial and operational execution are yielding results. Sustained improvements are the direct result of our continued focus on cost reduction initiatives and shifting our product mix to include increased higher-margin service revenues. It is also notable that our fuel cell products are demonstrating greater durability and field reliability allowing for reversals of warranty provisions recorded in prior years, further lifting margins."

"Finally, we progressed commercially and financially toward our goal of becoming profitable with revenue growth, gross margin improvement, and backlog expansion. Order intake in the quarter exceeded $64 million, flowing from our previously announced orders in the bus market as well as the multi-year commitment for 154 fuel cell modules to GeoPura, once again highlighting the continued growth of the hydrogen genset market and reinforcing the expected synergies of the acquisition," added Mr. Neese.

He concluded, "Momentum across our core mobility and stationary power markets remains steady and reflects the progress we are making in executing our strategy. With our planned transformation into an energy-as-a-service provider, we anticipate more opportunities across the hydrogen ecosystem to drive revenue growth and advance toward profitability."

Completion of the GeoPura acquisition remains subject to customary closing conditions and applicable regulatory approvals.

Q2 2026 Financial Highlights
(all comparisons are to Q2 2025 unless otherwise noted)

Total revenue was $20.6 million in the quarter, up 15% year-over-year. Bus revenue was $9.7 million, up 9% from Q2 2025. Rail revenue was $4.1 million, down 43% from Q2 2025. Stationary revenue was $1.8 million, up 230% from Q2 2025. Other Markets revenue (truck, marine, material handling, off-road, and other applications) was $5.1 million, up 290% from Q2 2025. Gross margin was 20% in the quarter, an improvement of 28-points from (8%) in Q2 2025 driven by product cost reduction initiatives and lower manufacturing overhead costs as a result of the global corporate restructuring initiated in July 2025, and through certain non-ratable adjustments to warranty and inventory provisions. Total Operating Expenses1 were $20.9 million, a decrease of 34% compared to Q2 2025, a result of our reduced global operating cost structure. Total Cash Used by Operating Activities was $11.4 million, compared to $20.3 million in the prior year. Cash and cash equivalents were $502.1 million at the end of Q2 2026, compared to $550.0 million in the prior year. Adjusted EBITDA2 was ($9.8) million, compared to ($30.6) million in Q2 2025. The improvement in Adjusted EBITDA was driven primarily by margin and operating cost improvements. Order Backlog at the end of Q2 2026 was $156.6 million, an increase of 38.8% compared to the end of Q1 2026. The 12-month Orderbook was $74.4 million at end-Q2, an increase of $21.6 million or 40.8% from the end of Q1 2026. Order Backlog ($M)

Order Backlog 
at End-Q1 2026

Orders Received in
Q2 2026

Orders Delivered 
in Q2 2026

Order Backlog at End-
Q2 2026

Total Fuel Cell 
Products & Services

$112.9

$64.4

$20.6

$156.6

2026 Outlook

Consistent with our past practice, and in view of the early stage of hydrogen fuel cell market development, specific revenue and net income (loss) guidance for 2026 is not provided. We expect revenue in 2026 will be back-half weighted. Total Operating Expense1 and Capital Expenditure3 guidance ranges for 2026 are as noted below. We continue to review and consider various options to reduce our operating cost structure and capital spend, which may result in revisions to our guidance ranges at a future date.

2026

Guidance

Total Operating Expense1

$65 - $75 million

Capital Expenditure3

$5 - $10 million

Ballard Reports Q2 2026 Results

Q2 2026 Financial Summary

(Millions of U.S. dollars)

Three months ended June 30

2026

2025

% Change

REVENUE

Fuel Cell Products & Services:4

Bus

9.7

$8.8

9 %

Rail

4.1

$7.2

(43 %)

Stationary

1.8

$0.5

230 %

Other Markets

5.1

$1.3

290 %

Total Fuel Cell Products & Services Revenue

20.6

$17.8

15 %

PROFITABILITY

Gross Margin $

$4.1

($1.5)

373 %

Gross Margin %

20 %

(8 %)

28pts

Total Operating Expenses1

$20.9

$31.7

(34 %)

Equity loss in JV & Associates

-

($0.4)

100 %

Adjusted EBITDA2

($9.8)

($30.6)

68 %

Net Loss from Continuing Operations4

($20.3)

($24.3)

16 %

Loss Per Share from Continuing Operations4

($0.07)

($0.08)

16 %

CASH

Cash provided by (used in) Operating Activities:

Cash Operating Loss

($10.3)

($20.8)

51 %

Working Capital Changes

($1.1)

$0.5

(321 %)

Cash used by Operating Activities

($11.4)

($20.3)

44 %

Cash and cash equivalents

$502.1

$550.0

(9 %)

For a more detailed discussion of Ballard Power Systems' second quarter 2026 results, please see the company's financial statements and management's discussion & analysis, which are available at www.ballard.com/investors, www.sedarplus.ca and www.sec.gov/edgar.shtml.

Conference Call
Ballard will hold a conference call on Friday July 31, 2026 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review second quarter 2026 operating results. The live call can be accessed by dialing + 1-833-821-2814 (Canada/US toll free). Alternatively, a live audio and webcast can be accessed through a link on Ballard's homepage (www.ballard.com). Following the call, the audio webcast and presentation materials will be archived in the 'Earnings, Interviews & Presentations' area of the 'Investors' section of Ballard's website (www.ballard.com/investors).

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero- emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Important Cautions Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. Forward-looking statements include, without limitation, statements regarding the proposed acquisition of GeoPura Limited, including the expected timing of closing and the anticipated strategic, operational and financial benefits of the transaction; the markets for our products and services; Order Backlog, expected revenues, gross margins, operating expenses, and capital expenditures; our 2026 outlook; the expectation that 2026 revenue will be weighted toward the second half of the year; our objective of being profitable by the end of 2027; corporate development activities; and impacts of investments in manufacturing and R&D capabilities and cost reduction initiatives.

These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect Ballard's current expectations and are based on a number of assumptions, including assumptions regarding market demand, customer adoption, product deliveries, manufacturing performance, operating costs, financing requirements, the successful execution of Ballard's business strategy, the completion of the proposed acquisition of GeoPura on the anticipated timeline or at all, the successful integration of GeoPura's business and the realization of the anticipated benefits of the transaction. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond Ballard's ability to control or predict. Actual events, results and developments may differ materially from those contemplated by such forward-looking statements.

Factors that could cause actual results to differ materially include, without limitation: the failure to satisfy the conditions to closing or obtain required regulatory approvals for the proposed acquisition of GeoPura, delays in completing or integrating the acquisition, failure to realize anticipated benefits or synergies, changes in market conditions, general economic and regulatory developments, reliance on third parties, the level of achievement of our business plans, achieving and sustaining profitability, and changes affecting our liquidity and capital requirements. For a detailed discussion of the factors and assumptions underlying these forward-looking statements, and the risks that could cause actual results to differ materially, please refer to Ballard's most recent Management Discussion & Analysis and Annual Information Form. Any financial outlook or future-oriented financial information contained in this release, including our 2026 outlook and our objectives of being profitable by the end of 2027, is provided to assist readers in understanding management's current expectations regarding Ballard's financial performance, strategic objectives and business outlook, and may not be appropriate for other purposes. These forward-looking statements represent Ballard's views as of the date of this release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. These forward-looking statements are provided to enable external stakeholders to understand Ballard's expectations as at the date of this release and may not be appropriate for other purposes. Readers should not place undue reliance on these statements and Ballard assumes no obligation to update or release any revisions to them, other than as required under applicable legislation.

Further Information
Sumit Kundu –Investor Relations +1.604.360.9714 or [email protected]

Endnotes

1

Total Operating Expenses refer to the measure reported in accordance with IFRS.

2

EBITDA and Adjusted EBITDA are non-GAAP measures. We use certain Non-GAAP measures to assist in assessing our financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. See the reconciliation of Adjusted EBITDA to GAAP in the Supplemental Non-GAAP Measures and Reconciliations section of Ballard's most recent Management Discussion & Analysis. Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, transactional gains and losses, finance and other income, asset impairment charges, and the impact of unrealized gains and losses on foreign exchange contracts.

3

Capital Expenditure is defined as Additions to property, plant and equipment and Investment in other intangible assets as disclosed in the Consolidated Statements of Cash Flows.

4

We report our results in the single operating segment of Fuel Cell Products and Services. Our Fuel Cell Products and Services segment consists of the sale of PEM fuel cell products and services for a variety of applications including bus and rail applications, Stationary Power, and Other Markets (consisting of truck, marine, material handling, off-road, and other applications). Revenues from the delivery of Services, including technology solutions, after sales services and training, are included in each of the respective markets.

SOURCE Ballard Power Systems Inc.

Berkshire Hathaway (BRKA +0.24%) (BRKB +0.10%) is sitting on a mountain of money that keeps getting taller. The company ended its most recent quarter with a record of roughly $397 billion in cash and Treasury bills, up from about $348 billion a year earlier and just $129 billion three years ago.

That raises two questions worth exploring: Why does the pile keep growing, and where might new CEO Greg Abel finally put some of it to work, especially in artificial intelligence?

Image source: Getty Images.

Why the cash keeps piling up The simplest reason is that Berkshire has been a net seller of stocks for more than a dozen quarters in a row, unloading well over $150 billion more in equities than it has bought since late 2022. It trimmed its enormous Apple stake, and it has struggled to find bargains in a market trading near record highs. Buffett built his career on refusing to overpay, and Abel is carrying that discipline forward.

Meanwhile, cash is no longer dead money. With interest rates elevated, Berkshire parks most of its hoard in short-term Treasury bills that now generate enormous income. In fact, the interest on that cash alone earns more in a year than most companies in the S&P 500 make in total profit. So the pile grows from two directions at once: Berkshire keeps selling stock, and the cash it holds keeps compounding.

Today's Change

(

0.10

%) $

0.52

Current Price

$

509.68

A record cash pile is a high-class problem, but it is still a problem, because cash left idle drags on returns over time. Abel has already signaled he is willing to act, most notably by building a stake worth tens of billions of dollars in Alphabet, a rare and telling move into big technology. That suggests the next major purchase could well carry an AI flavor, an area where Berkshire remains underexposed relative to its size.

If I had to name the most logical candidate, it would be Taiwan Semiconductor Manufacturing (TSM +7.64%). It fits the Berkshire mold almost perfectly: a dominant, wide-moat business that manufactures nearly every advanced AI chip on earth, gushes cash, and trades at a reasonable valuation, far cheaper than most AI stocks. Best of all, Berkshire already knows it. The company bought a stake in late 2022, then sold it within months, with Buffett citing geopolitical tension around Taiwan as a reason.

Here is why that history matters. Abel has shown more willingness than Buffett to tolerate that kind of risk, and Taiwan Semiconductor has only grown more essential to the AI economy since Berkshire exited. Revisiting a wonderful business it once owned, now at the heart of the biggest technology shift in a generation, would be a very Berkshire thing to do.

Microsoft (MSFT +15.51%), with its enterprise moat and its stake in OpenAI, is another name that fits the mold, one that Buffett largely avoided partly because of his friendship with Bill Gates.

Today's Change

(

15.51

%) $

60.56

Current Price

$

451.10

The caveat worth naming This is a prediction and is not a certainty, and I would hold it loosely. The same geopolitical worries that pushed Buffett out of Taiwan Semiconductor have not disappeared, and Abel may simply keep hoarding cash until a fat pitch arrives. The real lesson is less about guessing the exact trade and more about the kind of business Berkshire hunts for: durable, cash-rich, and fairly priced.

Berkshire's swelling cash pile reflects patience and discipline, not panic, and it gives Abel enormous firepower for the day the right opportunity appears. When he does deploy, expect a wonderful business bought at a sensible price, and among AI-linked names, Taiwan Semiconductor fits that description better than almost anything else. My honest read is that watching how Berkshire spends this cash will reveal a great deal about how the post-Buffett era intends to invest.