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22.10.2026 6:03

Moneta by měla ve třetím čtvrtletí navázat na solidní výkonnost z předchozích období. Analytik Patria Finance Jindřich Litner očekává téměř sedmiprocentní růst čistého zisku díky vyšším úrokovým výnosům, pokračujícímu růstu hypoték a silným příjmům z poplatků.

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Tagy: výsledky, akcie, Výhled, Moneta Money Bank, Moneta

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Pudgy Penguin [PENGU] has jumped by almost 9% since it was listed on SoFi on the 20th of October. The SoFi listing of this token could bring new interest to a token that has been struggling with losing value over several months.

Notably, this rally comes after weeks of selling pressure pushed  PENGU from $0.0112 toward $0.00706, where buyers repeatedly defended support.

Later on, the price moved toward $0.00807. This is where buyers were able to reverse the momentum and cause the price to begin moving upward again.

However, at this point PENGU has still not broken through the larger downtrend. As of writing, PENGU was trading near its previous high of $0.0085. This previous high also served as a strong support price before being breached in early October.

Source: TradingView The SoFi listing has created enough renewed interest in the token so that it is seeing increased buying activity. However, sustained price increases will need to occur for the renewed interest to develop into a prolonged recovery.

PENGU liquidation levels to watch The current recovery for PENGU may also face a possible price swing. The increase in leveraged trading has increased trading activity around the token. The 24-hour heatmap below shows a major cluster around $0.00830–$0.00835.

If a breakout occurs here, the short sellers who held these positions will be forced to buy back positions to recoup some of the losses.

These forced purchases may accelerate gains and help PENGU challenge the $0.00850 resistance identified in its recent price action. However, the downside risk remains relatively close, as evidenced by the second largest cluster at $0.00790–$0.00795.

Source: CoinGlass If buyer support fails to materialize in this zone, the number of forced long closures could create additional selling pressure towards $0.00780 and ultimately lower levels.

PENGU’s long-term outlook Beyond the short-term resistance test of PENGU’s price, PENGU will ultimately depend on the long-term ability to sustain demand that reverses the bearish structure in place over time.

If PENGU can gain traction and produce a confirmed weekly breakout alongside growth in volume and spot accumulation. Ultimately, this could result in a potential price move toward the $0.012-$0.015 zone.

In turn, if buyers can reclaim this zone, further upside for PENGU could occur of up to $0.250-$0.340 with participation from the overall market required.

On the other hand, circulating supply remains a challenge, with approximately 70% or 62.86 billion PENGU tokens already in circulation against a maximum of 88.88 billion.

In light of this fact alone, any drop-off in demand for PENGU could cause huge difficulties in allowing PENGU to make significant future gains.

Final Summary Pudgy Penguins gained 8.9% after its SoFi listing but faces resistance at $0.00850.

PENGU could target $0.0120–$0.0150 after a confirmed breakout, while losing $0.00706 risks a drop toward $0.0037.

A new Solana memecoin has hard-coded its entire creator fee stream to a single wallet, permanently. The token is $KIMCHI, launched on Pump.fun, and the address receiving those fees cannot be changed.

Pump.fun’s own profile page labels that address “Kimchi.” That name belongs to a trader who had just been announced as a Pump.fun collaborator on creative direction.

How the launch unfolded
$KIMCHI went live on October 20, 2026, at approximately 23:00 UTC. The token also goes by a second name, “Aura Final Boss.”

The deployer used an anonymous wallet with a track record of launching similar tokens. In the very first transaction, that wallet scooped up about 79.3% of the one billion token supply.

The cost was roughly 87 SOL, worth somewhere between $9,000 and $9,300.

Minutes after launch, 750 million tokens, or 75% of the supply, landed in the address labeled “Kimchi.” At the same time, the deployer named that address the fixed, unchangeable recipient of every creator fee the coin generates.

Then came the rally. Promotion tied to the trader Kimchi helped push the token’s market cap to approximately $40 million within its first hour.

On-chain analysis indicated the deployer sold most of its remaining tokens after launch. Its estimated profit came to about $26,000. Early sniping wallets reportedly walked away with even more.

Why the fee setup matters
Creator fees are Pump.fun’s way of paying whoever launches a token. On the bonding curve, the creator fee sits at 0.30% of trading volume. Once a token graduates to a PumpSwap pool, the fee ranges from 0.05% to 0.95%, depending on which market-cap tier the token occupies.

What makes $KIMCHI unusual is the permanence. The deployer did not keep the fee stream or retain the option to redirect it later. Instead, every future fee flows to the one address, with no way to reassign it.

The arrangement concentrates both a large token balance and an ongoing revenue stream in a single wallet.

The influencer playbook on Solana
The address carries the Kimchi label on Pump.fun’s profile page. The source material does not establish whether the trader set up the token, endorsed it, or controls the wallet.

What this means for traders and the platform
One address holding 75% of supply can move the price dramatically if it ever decides to sell.

Fee recipients earn from activity, not from price direction. A wallet collecting a cut of every trade profits from volatility in both directions, which can sit awkwardly beside holders who only win when the price rises.

The deployer turned roughly $9,300 into an estimated $26,000 profit, and snipers reportedly did better. Those gains came from being first to a bonding curve.

Watch the Kimchi-labeled address closely. Its 750 million tokens and its permanent claim on creator fees make it the single most important wallet in the $KIMCHI economy.

Also watch whether the token graduates to a PumpSwap pool and which fee tier it lands in. That will determine how much the fixed recipient collects as trading continues.

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

DBS Bank, a leading financial institution in Southeast Asia, has identified the XRP ecosystem as one of the most effective frameworks for bridging digital assets with traditional payment flows. This recognition comes as both private sector and network initiatives accelerate efforts to improve institutional settlement processes across borders.

SWIFT’s real-time ledger and industry collaborationSWIFT has introduced a real-time ledger to record, order, and verify transactions. Unlike some decentralized projects, SWIFT’s model finalizes settlements using traditional banking infrastructure, maintaining existing compliance and risk protocols.

This system now supports the first live use case: 24/7 cross-border payments with bank-issued tokenized deposits. Major global banks such as DBS, BNP Paribas, HSBC, Citi, and Standard Chartered are early participants. The initiative advanced from concept to operational testing within a year.

Developers structured the SWIFT ledger to enable constant connectivity between traditional banking and digital asset networks. Direct settlement of digital assets is not handled by SWIFT; instead, the network supplies an orchestration layer that lets banks operate under current financial regulations.

Feedback from over 40 financial institutions is expected to shape future features, aiming to improve interoperability and efficiency in global payments.

Mini dictionary: SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is a global messaging network that enables secure communication between banks and financial institutions, especially for cross-border payments. Its system is widely used for international fund transfers and compliance management.

Focus on interoperability and complianceDBS Bank explained that the SWIFT ledger unifies tokenized deposits, digital assets, and international payments to create a more seamless client experience. The approach maintains crucial features of correspondent banking, such as the ISO 20022 compliance framework, while improving liquidity transparency and round-the-clock operational capability.

Rather than replacing existing systems, the focus remains on building bridges between current payment rails and emerging digital networks. This strategy supports ongoing regulatory requirements while enabling new technological capabilities.

DBS Bank emphasized that connecting tokenized deposits and digital assets to international payments presents opportunities for smoother transactions and improved client service, without compromising established compliance standards.

XRP Ledger’s role in institutional settlementThe XRP Ledger, developed to facilitate efficient cross-border settlements, continues to prioritize interoperability with the established financial system. Its advocates argue that reducing friction between traditional banking and on-chain settlements is vital for digital asset adoption among institutions.

SWIFT’s current solution supports only bank-controlled tokenized deposits, while the XRP Ledger operates as a public blockchain focused on broader asset transfers.

NetworkSettlement AssetUse CaseParticipantsSWIFT LedgerTokenized deposits24/7 cross-border banking payments40+ global banksXRP LedgerXRP, digital assetsOn-chain settlement, interoperabilityPublic and private institutionsIndustry observers expect hybrid models to emerge, with both SWIFT’s orchestrated approach and public ledgers like the XRP Ledger evolving based on market demand and regulatory feedback.

Ongoing collaboration between traditional institutions and blockchain developers is expected to influence the broader adoption of tokenized deposits and digital assets, especially as regulated channels seek innovative solutions for international settlement.

Integrating established payment infrastructure with new digital networks is seen as critical to supporting the seamless movement of value worldwide, with tokenization acting as a key enabler in regulated environments.

Two Texas-area names you probably haven’t heard of just did something most big banks are still writing white papers about. Vantage Bank and Rio Bank completed a loan payment between themselves using tokenized deposits on Ethereum.

According to Participate, the platform that handled the deal, the principal and interest landed in the receiving bank’s digital wallet in under three minutes. Loan balances and payment notices updated in the same motion as the money moved.

What actually happened The transaction took place on October 19, 2026. It was framed as the world’s first interbank loan participation or syndication principal-and-interest payment made with tokenized deposits.

In a loan participation, one bank makes a loan and sells slices of it to other banks. When the borrower pays, the lead bank has to pass each participant its share of principal and interest.

The payment ran through two pieces of infrastructure. The first was Participate’s loan-sales platform, which connects banks buying and selling loan interests. The second was the Hazel Network, which Vantage Bank built alongside Custodia Bank.

The settlement itself happened on the Ethereum mainnet. That’s the public blockchain, not a private sandbox or a walled-off test chain.

Custodia’s ERC-20 token, called Avit, was part of the setup. ERC-20 is the standard format for fungible tokens on Ethereum, the same template behind a large share of the tokens issued on that network.

Matt Johnner of Participate described the payment as a practical demonstration of tokenized deposits slotting into workflows banks already run. He positioned it as a key step toward automating interbank loan servicing.

How we got here This didn’t appear out of nowhere. Vantage and Custodia have been testing tokenized deposits since March 2025, which means roughly a year and a half of trial runs before this live payment.

The more recent chapter began in April 2026. That’s when Participate, Vantage Bank and Custodia Bank announced a strategic collaboration to plug Hazel Network capabilities into Participate’s ecosystem.

That ecosystem now includes more than 750 banks. So the rails used here sit on a network that already reaches hundreds of potential counterparties, at least in principle.

A tokenized deposit is a regular bank deposit represented as a token on a blockchain. It remains a claim on the issuing bank, inside the regulated banking system.

Why it matters The headline number is the three minutes, but the more interesting detail is that records updated alongside the payment. In loan servicing, moving cash is only half the job. Someone also has to update balances, send notices and confirm everyone agrees on who owns what. Bundling them into one on-chain event is the efficiency argument for tokenization in a nutshell.

The partners also stressed that the transaction stayed within banking compliance requirements.

For the crypto industry, the choice of Ethereum mainnet stands out. Traditional institutions have often preferred permissioned networks where they control who participates. Running a regulated bank-to-bank payment on a public chain is a vote of confidence in its reliability for this kind of use.

Custodia’s role is notable too. The Wyoming-chartered bank has spent years positioning itself at the intersection of crypto and traditional banking. A live interbank payment using its Avit token gives that positioning a concrete use case rather than a pitch deck.

Wider adoption would require more banks willing to hold tokenized deposits, connect to the Hazel Network and get comfortable with on-chain settlement from a risk and compliance standpoint.

Interoperability is another thing to watch. If other banks build competing tokenized deposit systems, the value of near-instant settlement depends on whether those systems can talk to each other.

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

Zcash developers are advancing a targeted privacy enhancement to shield ZEC swap activity from potential future quantum computing risks. The team behind Zakura, a full-node implementation of the Zcash network, has detailed an approach that assigns a unique incoming viewing key to every publicly exposed address used in cross-chain swaps, particularly those routed through NEAR Intents.

This measure addresses a specific vulnerability that could otherwise allow a powerful quantum adversary to connect multiple payments belonging to the same user.

Under normal conditions, Zcash’s shielded transactions already maintain strong privacy properties against classical computers and even quantum ones in many everyday scenarios.

Payments are encrypted in a way that does not place sensitive key material on the blockchain itself.

However, when a shielded address must be published on another chain—as occurs with refund addresses for failed or partial NEAR Intents swaps, or recipient addresses for inbound swaps—that exposure creates a lasting record.

A sufficiently advanced quantum computer employing Shor’s algorithm could, in theory, recover the shared incoming viewing key associated with that address.

Once obtained, the key would reveal the values and memos of every payment ever received by the same Zcash account, effectively linking them together.

The concern falls under the broader “harvest now, decrypt later” threat model, in which public data collected today might be decrypted years from now if quantum capabilities mature.

Rather than requiring users to spin up entirely new accounts for each swap—an approach that creates practical friction for hardware wallets such as Keystone (limited to a single account index) and Ledger (requiring separate transaction approvals)—the Zakura design keeps the core spending key unchanged.

It only varies the randomness used when deriving the incoming viewing key. Each swap therefore receives its own distinct viewing key and corresponding address.

An attacker who later breaks one published address learns only the payments tied to that specific swap; linking it back to the user’s main account would require inverting a hash-based derivation, which remains infeasible even for a quantum computer.

Spending authority stays centralized with the original account key, so funds remain easily accessible.

To keep wallet recovery efficient as the number of one-time keys grows, the system relies on private information retrieval.

Because NEAR bridge transactions on Zcash use a uniform outgoing viewing key, an index can be built that maps addresses to the relevant transactions.

Restored wallets check compact filters first, then privately query the index without revealing which addresses they control.

Encrypted notes left to the user during outgoing swaps record the derivation index, enabling precise reconstruction. Inbound swaps follow a sequential filter-checking process.

Compatible software wallets built on Zakura’s open-source libraries, including Vizor, are expected to support the feature within weeks, with hardware-wallet firmware updates to follow.

No quantum computer capable of recovering these keys has been demonstrated.

The change is designed as a deployable interim step ahead of longer-term post-quantum work such as the Tachyon project and related network upgrades. By isolating exposure to individual swaps without sacrificing usability, the proposal aims to extend practical privacy for ZEC users who interact with cross-chain services.

Wed 21 Oct 2026 ▪
5
min read ▪ by
Luc Jose A.

Summarize this article with:

Solana replaced TowerBFT with Alpenglow on its mainnet on October 21, in its most significant consensus change since launch. The new protocol targets a finality close to 150 milliseconds, compared to about 12.8 seconds previously, but part of the planned architecture is still to be deployed.

In Brief

Solana activated Alpenglow on October 21, replacing TowerBFT on its mainnet.
The new consensus targets a finality of 150 milliseconds, compared to 12.8 seconds previously.
The transition occurred without a network-wide outage, with participation from 654 validators.
The Votor mechanism speeds block validation through new voting procedures and BLS signatures.
Alpenglow promises faster final transactions and better fault tolerance.

Alpenglow Replaces TowerBFT on the Mainnet
The activation began at the start of epoch 1064. However, the network retained TowerBFT for the first 5000 slots of this epoch, about 18 minutes, to prepare the transition to the new system.

The transition completed at slot 459653000. The validators then formed the cryptographic certificate marking the birth of the Alpenglow consensus. Anza, the lead developer of the Agave client, described this operation as the “greatest upgrade in Solana’s history”.

The key elements of the activation illustrate the magnitude of the change :

Alpenglow replaces the TowerBFT consensus used since Solana’s inception ;
The targeted finality goes from 12.8 seconds to about 150 milliseconds ;
654 validators participated in the transition ;
The switch from one consensus to the other lasted about 900 milliseconds ;
Validator votes are no longer recorded as on-chain transactions ;
BLS signatures allow multiple votes to be aggregated into a single certificate ;
Each admitted validator must pay a ticket of 0.8 SOL per epoch.

The transfer occurred without a full network halt. During the critical phase, blocks temporarily stopped including user transactions and carried only the necessary votes. This precaution was to allow a rollback without invalidating a user-signed operation.

Once the genesis certificate was formed, nodes handed the consensus over to the new Votor algorithm. Transactions then resumed under the Alpenglow regime.

Votor Dramatically Reduces Final Confirmation Delay
The consensus allows validators to agree on the order of transactions and when a block can no longer be reverted. With TowerBFT, Solana produced blocks quickly, but their full finality required about 12.8 seconds.

Votor uses two voting procedures in parallel. The first can finalize a block in one round when 80% of tokens staked staking respond. The second can conclude after two rounds with 60% participation. The protocol adopts the path that finishes first.

Votes are no longer recorded as ordinary transactions. Validators exchange signed messages directly via the BLS system. Multiple signatures can then be aggregated into a compact certificate, freeing block space for user operations.

Alpenglow also targets better fault tolerance. Its design allows simultaneous tolerance of 20% of tokens staked on offline validators and 20% on hostile actors. TowerBFT relied on a limit of less than one-third malicious participation.

For users, the expected effect mainly concerns payments, decentralized exchanges, and applications demanding quick certainty. A finality near 150 milliseconds would reduce the wait before an operation is considered irreversible. However, this gain doesn’t mean all applications will respond that fast, as their interfaces, servers, and controls add their own delays.

Part of the Upgrade Is Still to Come
The activation on October 21 mainly concerns Votor, the new consensus mechanism. It does not yet deploy all the components described in the Alpenglow project.

Rotor, the future block propagation system, is set to replace Turbine in a later phase. It plans to distribute data shards via a single relay and to use the network’s full bandwidth. Its activation schedule is not yet set.

The economic operation of validators is also changing. Off-chain votes remove the old fees paid for each vote transaction. Instead, the protocol charges a validation ticket of 0.8 SOL per epoch on the vote account. An operator lacking the required amount cannot vote or produce blocks during the following epoch.

The comparison with Ethereum’s “The Merge” mainly illustrates the technical significance of the change. Ethereum abandoned proof-of-work for proof-of-stake in 2022. Solana keeps its general model but directly replaces the engine organizing agreement among its validators.

The coming weeks will verify whether the observed finality remains near 150 milliseconds during high activity periods. Network stability, validator participation, and the future deployment of Rotor will determine if Alpenglow lives up to its promises.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Shiba Inu’s [SHIB] holder base grew significantly in 2026. Reportedly, SHIB saw an additional 150,017 on-chain holders, bringing its total to 1,698,647 by the 19th of October.

In fact, the figure reflected a significant  growth from the 1,548,630 holders recorded at the beginning of the year 2026. Additionally, SHIB also attracted attention following developments surrounding T. Rowe Price’s proposed multi-asset cryptocurrency ETF.

In particular, the proposed fund identified SHIB among the crypto assets eligible for potential exposure, offering another possible avenue for institutional participation.

Here, it is worth noting that the filing, however, did not confirm actual SHIB holdings or establish a dedicated spot ETF. Both developments nevertheless  highlighted SHIB’s growing reach across both the retail and potential institutional markets.

Source: X
Alongside the improving token adoption, SHIB continued decreasing its circulating supply through its token-burning mechanism. According to Shibburn on X, the network reportedly burned 111,395 SHIB across two transactions during the 24-hour period.

The seven-day total meanwhile had reached 81,765,038 SHIB, highlighting a continued burning activity over a longer period.

Notably, the cumulative burns totaled approximately 410.85 trillion SHIB, representing a significant portion of the token’s original supply.

Rising reserves expose persistent selling pressure
Shiba Inu‘s Exchange Reserves surged as spot trading activity continued favoring sellers, despite the expanding adoption.

CryptoQuant reported the memecoin’s Exchange Reserve USD climbing 3.11% in 24 hours to $449.6 million as of writing, reflecting greater exchange-held token value.

This increase implied potentially greater selling availability, even though USD-denominated reserves also reflected valuation changes. The Spot Taker CVD additionally remained seller-dominant, which suggested a stronger aggressive selling than buying activity.

These indicators combined highlighted persistent selling pressure despite the improving adoption figures of the memecoin. Such conditions therefore placed greater significance on the token’s ability to defend its immediate technical support.

Source: SHIBA INU Exchange Reserve USD on CryptoQuant
Can SHIB defend its critical weekly support?
At the time of reporting, SHIB  traded around $0.00000511 after struggling to sustain its weekly recovery towards the $0.0000060 resistance region. Subsequently, the price rejection pushed the memecoin toward the $0.0000050 support, where buyers had previously defended this support region.

Meanwhile, the CMF indicator showed an improvement toward neutrality, reaching -0.01 as pressure around capital outflow eased. On the contrary, the Stochastic RSI highlighted weakening bullish strength. A bearish crossover emerged after the indicator’s recent overbought conditions, raising concerns about another potential price decline.

Moreover, SHIB would need to maintain the $0.0000050 support, before another recovery toward $0.0000060 becomes possible. Alternatively, losing this key support would expose the $0.00000413 level, particularly in case the spot sellers keep maintaining control.

Source: SHIB/USDT Chart on TradingView

Final Summary

SHIB added 150,017 holders as proposed ETF exposure opened potential institutional opportunities.

Rising exchange reserves and persistent spot selling could threaten SHIB’s $0.0000050 support.

Molina (MOH - Free Report) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $1.84 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +23.61%. A quarter ago, it was expected that this provider of Medicaid-related services would post earnings of $1.37 per share when it actually produced earnings of $1.51, delivering a surprise of +10.22%.

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

Molina, which belongs to the Zacks Medical - HMOs industry, posted revenues of $11.08 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.42%. This compares to year-ago revenues of $11.48 billion. 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.

Molina shares have added about 26.6% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for Molina?While Molina 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 Molina 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 $0.69 on $12 billion in revenues for the coming quarter and $5.28 on $44.47 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, Medical - HMOs is currently in the top 19% 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, Cigna (CI - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on November 5.

This health insurer is expected to post quarterly earnings of $7.46 per share in its upcoming report, which represents a year-over-year change of -4.7%. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level.

Cigna's revenues are expected to be $73.53 billion, up 5.7% from the year-ago quarter.

First American Financial (FAF - Free Report) came out with quarterly earnings of $1.78 per share, missing the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $1.7 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -3.78%. A quarter ago, it was expected that this financial services company would post earnings of $1.8 per share when it actually produced earnings of $2.08, delivering a surprise of +15.56%.

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

First American Financial, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $2.08 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 1.06%. This compares to year-ago revenues of $1.98 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.

First American Financial shares have added about 7.9% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for First American Financial?While First American Financial 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 First American Financial 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 $1.81 on $2.07 billion in revenues for the coming quarter and $7.09 on $8.13 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, Insurance - Property and Casualty is currently in the top 29% 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.

Heritage Insurance (HRTG - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 28.

This property and casualty insurance holding company is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of -36.2%. The consensus EPS estimate for the quarter has been revised 21.9% lower over the last 30 days to the current level.

Heritage Insurance's revenues are expected to be $217.39 million, up 2.3% from the year-ago quarter.

Advances Cognizant's AI Builder strategy, helping clients in Australia and New Zealand turn AI investment into enterprise value across their SAP landscapes.
Is expected to combine DyFlex's deep SAP advisory, implementation and managed services capabilities, including strong depth in SAP Public Cloud, with Cognizant's AI assets, industry expertise and global delivery scale.
Is expected to add a multi-award-winning SAP Platinum Partner with particular experience in mining and resources, energy and utilities, manufacturing, logistics, the public sector and the mid-market.

, /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced that it has entered into a definitive agreement to acquire DyFlex Solutions, a leading AI-led SAP transformation firm. Headquartered in Australia, DyFlex is a multi-award-winning SAP Platinum Partner delivering advisory, consulting, implementation and managed services across the SAP ecosystem in Australia and New Zealand. The proposed transaction is expected to strengthen Cognizant's enterprise platform, AI and SAP capabilities in the region, and its domain expertise in mining and resources, energy and utilities, manufacturing, logistics, the public sector and the mid-market sector.

Founded in 2011, DyFlex has grown to over 300 people, making it one of the leading employers of SAP talent across Australia and New Zealand, with multiple office locations in the region and a delivery presence in the Philippines. It specialises in SAP transformation, including AI-led process advisory, across finance, digital supply chain, asset maintenance, human capital management, and data and analytics, spanning the full SAP portfolio with award-winning capability across SAP Public and Private Cloud. Its work is supported by proprietary delivery methods, accelerators and reusable assets, which DyFlex is increasingly enhancing with AI.

"DyFlex brings deep SAP consulting capabilities that are key to reimagining SaaS, modernising clients' business landscapes and driving operational performance," said Roshan Subudhi, SVP and Head of Intelligent Enterprise Platforms at Cognizant. "This proposed acquisition would bring together DyFlex's SAP expertise with Cognizant's Frontier and Autonomous Enterprise capabilities and global delivery at scale, helping clients derive greater value from AI across their business."

Following completion of the proposed transaction, Cognizant expects to combine DyFlex's regional SAP expertise and proprietary accelerators with its global industry experience and AI platforms, including Neuro AI Enterprise Core, the Cognizant SAP Agentic AI Platform and Frontier offerings. Together, the companies aim to help clients in Australia and New Zealand move beyond isolated AI experiments to production-ready AI and agentic systems across their SAP environments, driving towards the Autonomous Enterprise.

"Clients across Australia and New Zealand are seeking practical pathways to modernise core platforms while adopting cloud, data and AI capabilities," said Carla Ramchand, Managing Director ANZ at Cognizant. "This proposed acquisition would bring DyFlex's deep local SAP talent and strong understanding of Australia's major industries together with Cognizant's AI capabilities and global scale. For DyFlex's clients and the organisations we look forward to working with, it would mean the trusted people they know today, with even more ways to accelerate their transformation ambitions."

"DyFlex has grown by building enduring relationships with our clients, investing in our great people and developing deep expertise across our core industries and the SAP ecosystem," said Evan Mantis, Chief Executive Officer of DyFlex. "Joining Cognizant would be an exciting next chapter for our clients and colleagues. Our clients would continue to work with the people and expertise they trust, backed by Cognizant's global reach, industry experience and AI capabilities to help them go further, faster. We look forward to working together to enhance our offerings to existing clients."

The transaction is expected to close in the first quarter of 2027, subject to required regulatory approvals and the satisfaction of other customary closing conditions. Until closing, Cognizant and DyFlex will continue to operate as separate businesses. Financial details were not disclosed.

About Cognizant
Cognizant is an AI Builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.

About DyFlex
DyFlex is an Australia-headquartered, multi-award-winning SAP Platinum Partner and a leading independent pure-play SAP partner in Australia and New Zealand, providing advisory, consultancy, implementation and managed services across the SAP solution set. The company operates across Australia and New Zealand, with a significant presence on Australia's east and west coasts and delivery support in the Philippines, and has experience in sectors including mining, utilities, energy and the public sector.

Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the anticipated benefits of the proposed transaction, including anticipated benefits relating to synergies, new business opportunities, and growth; advancement of Cognizant's AI Builder strategy and expansion of its industry capabilities in Australia and New Zealand; the expected timing of the transaction closing; the combined company's plans, objectives, expectations, and intentions; anticipated enhancement of client offerings and continuity of existing client relationships; and other statements that are not historical facts. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the risk that the expected benefits from the transaction may not be fully realized or may take longer than anticipated to be realized; disruption to the parties' businesses as a result of the announcement and pendency of the transaction; the ability to obtain required approvals of the transaction on the timeline expected, or at all, and the risk that such approvals may result in the imposition of conditions that could adversely affect us after the closing of the transaction or adversely affect the expected benefits of the transaction; reputational risk and the reaction of each company's customers, suppliers, employees or other business partners to the transaction; the failure of the closing conditions in the transaction agreement to be satisfied, or any unexpected delay in closing the transaction or the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; risks related to management and oversight of the expanded business and operations of Cognizant following the transaction; the risk that combining DyFlex's business and operations into Cognizant will be more costly or difficult than expected, or that we are otherwise unable to successfully integrate DyFlex's businesses with our own, including as a result of unexpected factors or events; and general competitive, economic, political and market conditions and other factors that may affect our future results or that of DyFlex, including the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, our ability to successfully use AI-based technologies, legal, reputational and financial risks resulting from cyberattacks, and changes in the regulatory environment, including with respect to immigration and taxes. Additional factors which could affect future results are discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

For more information, contact:

Investor Relations

Corporate Communications

Europe / APAC Media

Tyler Scott, SVP, Investor
Relations

Jeff DeMarrais, SVP, Chief
Communications Officer

Sarah Douglas, Head of
Communications EMEA & APJ

[email protected]

[email protected]

[email protected]

SOURCE Cognizant Technology Solutions

Packaging Corp. (PKG - Free Report) reported $2.6 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 12.5%. EPS of $3.04 for the same period compares to $2.73 a year ago.

The reported revenue represents a surprise of +1.46% over the Zacks Consensus Estimate of $2.56 billion. With the consensus EPS estimate being $2.95, the EPS surprise was +3.05%.

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 Packaging Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Segment Sales- Packaging: $2.41 billion versus $2.27 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +13.4% change.Segment Sales- Corporate and Other: $24.5 million versus $24.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.Segment Sales- Paper: $163.2 million versus $160.15 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.Segment operating income (loss) excluding special items- Packaging: $407.7 million versus $482.65 million estimated by two analysts on average.Segment operating income (loss) excluding special items- Corporate and Other: $-38.9 million versus $-49.49 million estimated by two analysts on average.Segment operating income (loss) excluding special items- Paper: $29 million compared to the $39.9 million average estimate based on two analysts.View all Key Company Metrics for Packaging Corp. here>>>

Shares of Packaging Corp. have returned +0.3% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Element Solutions (ESI - Free Report) came out with quarterly earnings of $0.5 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.17%. A quarter ago, it was expected that this specialty chemical and printing products would post earnings of $0.43 per share when it actually produced earnings of $0.47, delivering a surprise of +9.3%.

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

Element Solutions, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $995.3 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 2.82%. This compares to year-ago revenues of $656.1 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.

Element Solutions shares have added about 42.7% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for Element Solutions?While Element Solutions 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 Element Solutions 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 $0.46 on $943.2 million in revenues for the coming quarter and $1.81 on $3.73 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 - Specialty is currently in the bottom 34% 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.

Flexible Solutions International Inc. (FSI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026.

This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Flexible Solutions International Inc.'s revenues are expected to be $13.91 million, up 31.7% from the year-ago quarter.

Hexcel (HXL - Free Report) came out with quarterly earnings of $0.5 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.17%. A quarter ago, it was expected that this maker of lightweight composite materials would post earnings of $0.56 per share when it actually produced earnings of $0.66, delivering a surprise of +17.86%.

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

Hexcel, which belongs to the Zacks Aerospace - Defense Equipment industry, posted revenues of $496.4 million for the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.76%. This compares to year-ago revenues of $456.2 million. 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.

Hexcel shares have added about 23.6% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for Hexcel?While Hexcel 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 Hexcel 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 EPS estimate is $0.65 on $551.94 million in revenues for the coming quarter and $2.37 on $2.08 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, Aerospace - Defense Equipment is currently in the top 30% 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, TransDigm Group (TDG - Free Report) , is yet to report results for the quarter ended September 2026.

This aircraft components maker is expected to post quarterly earnings of $12.15 per share in its upcoming report, which represents a year-over-year change of +12.3%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.

TransDigm Group's revenues are expected to be $2.94 billion, up 20.8% from the year-ago quarter.

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Tesla posted a highlight reel showing off its robotaxi navigating real-world road conditions, including robotaxis getting in the way. Andrej Sokolow/picture alliance via Getty Images Tesla took some subtle jabs at its robotaxi competitors ahead of its third-quarter earnings call on Wednesday.

On a website Tesla created for its robotaxi safety report, the company uploaded clips of its self-driving cars maneuvering in real-world conditions without a driver behind the wheel. Obstacles and hazards included stormy weather, a pedestrian crossing at a green light, stray pets, and rival robotaxis getting in the way.

Ashok Elluswamy, Tesla's VP of AI, also posted the video on X, calling it "Robotaxi B-roll."

Robotaxi B-roll https://t.co/NWO7Ak2h1I

— Ashok Elluswamy (@aelluswamy) October 21, 2026 At around the 1:44 mark of Elluswamy's post, the video shows a robotaxi coming to a complete stop in its own lane as a Waymo makes a wider-than-usual right turn. The Waymo can be seen encroaching into Tesla's lane before it returns to its own path.

A Waymo spokesperson did not immediately return a request for comment.

What we learned from the Tesla 'company update'

In another short clip, the Tesla robotaxi is seen driving at night, braking for an Avride car that pulled up from the right, a little too far into the Tesla's path.

Avride is a robotaxi company that offers robotaxi rides through Uber in Dallas and is testing rides with a safety driver behind the wheel in Austin.

A spokesperson for Avride did not immediately respond to a request for comment.

Tesla posted the footage as it seeks to make its case publicly on robotaxi safety. The company began offering a limited number of autonomous rides without an in-car safety monitor in Austin in January.

In the newly posted safety report, Tesla said its robotaxi service has driven 3.3 million miles autonomously — relatively small compared to Waymo's more than 271 million miles driven as of June.

Tesla said during its Q3 earnings call that it will launch unsupervised Cybercabs in Dallas in November.

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Lloyd Lee is a reporter at Business Insider covering frontier technologies, with a focus on how they're being deployed in the real world and the gaps and tensions that emerge as people, companies, and regulators respond. His coverage has featured autonomous vehicles, EVs, robotics, brain-computer interfaces, and AI.Lloyd's reporting on the progress of Alphabet's Waymo and Tesla's autonomous ambitions was recognized by the San Francisco Press Club with a Bay Area Journalism Award.Before joining Business Insider, he was a local reporter for Almanac News and Palo Alto Weekly, covering housing issues, small businesses, and notable Silicon Valley characters.Lloyd is based in San Francisco.He can be reached via email [email protected], or by phone at 646-768-1630, or Signal at lloyd.71.

Tesla Waymo

by Todd Bishop on

Stripe co-founder and President John Collison has been nominated to join Microsoft’s board of directors. (Stripe Photo) When Stripe co-founder John Collison interviewed Satya Nadella on his company’s podcast last fall, he asked the Microsoft CEO for advice on building a platform business. Collison will soon get to see how Microsoft does it up close.

Collison, 36, the co-founder and president of the Bay Area-based payments platform, has been nominated to Microsoft’s board, the tech giant disclosed Wednesday in its annual proxy statement.

He would fill one of two board seats opening up at Microsoft’s Dec. 8 annual meeting. LinkedIn co-founder Reid Hoffman said in June that he would leave, and the proxy reveals that Disney CFO Hugh Johnston, who chairs the board’s audit committee, is not seeking re-election either. Both have served on the board since 2017.

The proxy also notes that former EY CEO Carmine Di Sibio, appointed to the board in May, will stand for election by shareholders for the first time.

Microsoft’s board currently has 13 members, including Di Sibio. With Hoffman and Johnston leaving and Collison joining, it will go back to 12, the same number it had before Di Sibio joined in May.

Microsoft says Collison “brings extensive entrepreneurial and operational experience, along with deep expertise in technology.” He started Stripe with his brother, Patrick, in 2010, and businesses using Stripe processed $1.9 trillion in payments in 2025. Collison does not sit on any other public company board.

The board determined that he is independent, after considering ordinary business dealings between Microsoft and companies tied to its directors. The proxy doesn’t mention any business between Microsoft and Stripe, but the two companies already work together.

Stripe helps power Copilot Checkout, which Microsoft launched in January to let U.S. users of its AI assistant buy from Etsy sellers and other retailers without leaving the chat. In 2023, the companies teamed up to let businesses take card payments for paid events in Microsoft Teams.

The companies’ work together came up in the November episode of Stripe’s “Cheeky Pint” podcast. Collison said Stripe was building a platform business in agentic commerce, in which AI agents shop and pay on behalf of people, and asked Nadella what advice he had for a company building in such an early market.

Nadella said the key would be making it simple for small merchants to sell through AI agents, without asking them to set up servers or adopt a string of new technical protocols themselves.

The relationship goes back years. Nadella said he first visited Stripe’s San Francisco office when he was running Microsoft’s cloud business, before he became CEO.

He said Stripe reminded Microsoft of something it had once been good at, “following the developer, being where the startups are,” and said that thinking “led me even to GitHub,” the code-sharing platform Microsoft acquired in 2018 for $7.5 billion.

Caterpillar (CAT - Free Report) closed the most recent trading day at $740.21, moving +2.06% from the previous trading session. This change outpaced the S&P 500's 0.58% gain on the day. At the same time, the Dow added 0.69%, and the tech-heavy Nasdaq gained 1.05%.

The stock of construction equipment company has fallen by 10.24% in the past month, lagging the Industrial Products sector's loss of 2.94% and the S&P 500's gain of 0.97%.

The investment community will be paying close attention to the earnings performance of Caterpillar in its upcoming release. The company is slated to reveal its earnings on October 29, 2026. It is anticipated that the company will report an EPS of $7.12, marking a 43.84% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $20.58 billion, up 16.69% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $27.74 per share and a revenue of $80.19 billion, demonstrating changes of +45.54% and +18.65%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Caterpillar. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.34% higher within the past month. Currently, Caterpillar is carrying a Zacks Rank of #2 (Buy).

In the context of valuation, Caterpillar is at present trading with a Forward P/E ratio of 26.15. This expresses a premium compared to the average Forward P/E of 16.68 of its industry.

Also, we should mention that CAT has a PEG ratio of 1.24. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Construction and Mining industry had an average PEG ratio of 1.15 as trading concluded yesterday.

The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 19% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Altcoins

21 October 2026 | 18:52 Arbitrum (ARB) is up more than 5% on Wednesday, trading near $0.198 as buyers bounce from a three-layer support band and extend a break of its October downtrend.

KEY TAKEAWAYS

→ 50-day SMA and 0.382 Fib meet near $0.186.

→ Rallies keep stalling near $0.205 since mid-October.

→ RSI climbs back above its 50 midpoint.

→ ARB trades 22% below September’s $0.255 high.

On the ARB daily chart from TradingView, the rebound leaves the token about 169% above its mid-August low near $0.073.

From the September peak to an October base ARB’s August rally added nearly 250% before topping out in late September. The slide that followed broke the rising channel the token had tracked since late August, and on October 8 a wick reached the 0.5 Fib near $0.164 before buyers stepped in.

Arbitrum daily price chart. Source: TradingView ARB then spent two weeks building a base between roughly $0.17 and $0.20. Over the past few sessions it has pushed through the descending trendline from the September high, and Wednesday’s green candle extends that break.

Support stacks up just below the price The retracement found its footing at the 0.382 Fibonacci level of the August rally, and the 50-day SMA has climbed to almost the exact same price. The broken downtrend line now sits just underneath both. With three lines packed into a band less than a cent wide, this is the level buyers most need to hold.

Support band near $0.18–$0.186 0.382 Fib ~$0.186 50-day SMA ~$0.186 Former downtrend line ~$0.18 Resistance starts at $0.205 The top of the October base near $0.205 has turned back at least three rallies since mid-October, including Tuesday’s.

A little higher, the 0.236 Fib near $0.212 sits about 7% above the current price. It held as the floor of the late-September consolidation before breaking at the start of October, so it could cap the next leg up.

RSI has climbed to about 53, crossing back above its signal line while staying well short of overbought territory. The longer-term averages back the move: the 50-day SMA sits above the 100-day near $0.135 and the 200-day near $0.120, and all three are still rising.

Where the bounce could fail The bigger structure has not flipped yet. Each rally since the September peak has topped out lower than the one before, and Wednesday’s candle has yet to close. A daily close back under the support band would turn this week’s breakout into another false start.

Potential Moves ARB sits between the top of its base near $0.205 and the support band near $0.186. Upside A daily close above the base this week could open a move toward the 0.236 Fib, with the September high the next hurdle beyond it. Rejection Another failure there could pull ARB back to the support band. A daily close below it before the end of October could expose the 0.5 Fib. Bigger picture A pullback that holds above the 0.618 Fib near $0.143 would leave the August uptrend intact. What to watch beyond the chart Three dates could matter as much as any level on the chart.

Thu, Oct 22 Arbitrum DAO votes close. Four temperature checks end, including a plan to make Paxos’ USDG stablecoin a core strategic initiative and add 100 million ARB from the DAO treasury to the DeFi Renaissance Incentive Program (DRIP). Temperature checks are early, non-binding votes, and a pass would send the plan to an on-chain vote. Treasury tokens count as circulating once the DAO deploys them, so a bigger incentive budget could add to supply over time. Wed, Oct 28 Fed rate decision. The Federal Reserve announces its policy decision at 2:00 PM ET. Rate decisions often move the whole crypto market at once, which can override token-specific setups like this one. Mon, Nov 16 Next token unlock. Team, contributor and investor allocations unlock on the 16th of each month under ARB’s launch vesting schedule. That works out to about 92.65 million ARB per release, or roughly $18 million at the current price. Four more releases follow before the schedule ends in March 2027. Is it ARB or the whole market? Bitcoin and Ether also rose on Wednesday, but by smaller margins, with gains of roughly 1% to 3% depending on the time window. ARB’s jump outpaced both, so the bounce is more than the broader market lifting every token. Whether Thursday’s governance votes are playing a part is something the chart alone cannot show.

How we read this chart

Daily ARB/USD candles on TradingView, captured at 15:35 UTC on October 21, 2026, with the day’s candle still open. Daily candles close at 00:00 UTC.

Fibonacci levels run from the mid-August low to the late-September high. Indicators used: the 50-, 100- and 200-day simple moving averages and the 14-day RSI.

This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Kaspa’s KCC Coordination Forum has finalized three standards covering covenant interfaces, authorization, and fungible tokens, establishing shared specifications for developers building applications on the network.

Summary

KCC-1 defines shared interfaces for wallets, compilers, indexers, and other tools working with covenants. KCC-2 specifies five standard authorization schemes, including public keys, scripts, and covenant identifiers. KCC-20 sets token transfer rules and supports receiving tokens through an existing compatible output. Finalization establishes ecosystem conventions without changing consensus rules or requiring every participant to adopt them. KCC Coordination Forum said in an Oct. 21 announcement that KCC-1, KCC-2 and KCC-20 were final and ready for adoption across the ecosystem. The forum invited builders to join its public channel for questions, implementation discussions, and support.

Greetings $KAS. KCC-1, KCC-2 and KCC-20 are now Final, meaning they are ready for full adoption across the ecosystem.

We invite Kaspa builders to join the public KCC channel to ask questions, get support, discuss implementations and share what you build.

Come build with us.

— KCC Coordination Forum (@kccforum) October 21, 2026 Kaspa’s canonical standards repository lists all three documents as Final. Its index identifies KCC-1 as the covenant specification, KCC-2 as the authority specification, and KCC-20 as the application standard for fungible-token covenants.

The repository describes KCCs as shared conventions for independent implementations. Its documentation separates those conventions from changes to consensus or core-node behavior, which belong in Kaspa Improvement Proposals.

Kaspa standards cover different parts of application development KCC-1 defines common terms, data layouts and an application binary interface, or ABI, for covenants. The specification describes how software encodes information, calls program functions, and identifies the state carried between transactions.

Its authors, Romain Billot, Michael Sutton and Ori Newman, identify compilers, wallets, indexers and transaction builders among the tools that need to agree on those details. The document says independent implementations need common formats beyond simply producing scripts that pass consensus checks.

The KCC-1 specification leaves developers free to choose their programming language, compiler, and framework. Its shared interface covers program entry points, state templates, and rules for handling transactions involving multiple inputs.

Within the same document, the authors distinguish basic interface rules from features that depend on covenant identifiers. Programs without covenant bindings can follow KCC-1, but the specification says they do not receive the lineage and authorization guarantees supplied by KIP-20.

KCC-2 defines who can authorize an operation KCC-2, written by Billot and Sutton, specifies how programs identify an authority and the minimum checks required to establish its approval. An authority can be a public key, a commitment to a key, a script, or a continuing covenant lineage.

The specification assigns standard identifiers to five authorization schemes. Its public-key options cover Schnorr and ECDSA signatures, while its other options allow a script or covenant lineage to participate as an authority.

For public-key-hash authorization, KCC-2 requires the transaction to reveal the corresponding public key, match its hash against the stored authority value, and provide a valid signature. Higher-level specifications define the signed message and any further conditions.

The authority registry reserves separate ranges for standard and custom schemes. KCC-2 permits participants to adopt custom schemes without waiting for standardization, provided their definitions specify the format, meaning, and approval checks.

Under its covenant-identifier scheme, approval requires an input from the identified covenant lineage. KCC-2 says a higher-level convention can impose further checks on that input’s program and state.

KCC-20 sets token transfer and receiving rules KCC-20 builds on the first two standards, defining token amounts, ownership, and transfer interfaces. The document names Sivan Helfer, Sutton, Newman, and Billot as its authors.

Its specification requires each token covenant to publish program information that software can use to decode state and construct transfers. Configurations must disclose supported ownership schemes and limits on token inputs and outputs.

A feature called borrowed receive lets a sender use a recipient’s existing compatible token output as the destination. KCC-20 says the transaction recreates that output with more tokens, preserves its ownership and extended state, and cannot reduce its KAS value.

The security section warns that replacing the output changes its transaction reference, invalidating unconfirmed transactions spending the previous reference. A wallet must discover the replacement before spending it, according to the document.

The standard links an Argent reference implementation with generated SilverScript contracts and Rust conformance tests.

Final status carries implementation requirements KCC-0, the document governing the standards process, requires more than completion of a final review period. It says a standards-track convention needs human-readable and machine-readable test vectors, plus at least one public implementation that passes the machine-readable checks.

Dependencies must be Final for other KCCs or Active for KIPs, according to the same rules. KCC-0 says status changes occur through pull requests and the repository index must be updated with them.

KCC-0 describes machine-readable test vectors as the authoritative form for automated testing when they accompany human-readable examples. Its submission rules require security considerations to address threats, trust assumptions, and potential replay issues before a standards-track document can enter Last Call.

The governing document states that finalization does not require every ecosystem participant to implement a convention. Substantive changes generally require a replacement KCC, while corrections and clarifications follow the document’s amendment rules.

Kaspa’s application development has previously included separate Layer 2 infrastructure. Gate announced a Kasplex Layer 2 integration in April, enabling KAS deposits and withdrawals through the EVM-compatible network, as crypto.news reported.

In its earlier integration announcement, Gate said customers could transfer KAS from the base network to a Kasplex wallet. Kasplex’s project materials describe a two-way bridge and say developers familiar with Ethereum tools can deploy contracts by changing their remote procedure call endpoints.

Kasplex describes its design as a lightweight rollup that places EVM bytecode in Kaspa transactions and executes it off-chain. Its documentation says Kaspa supplies transaction ordering and data availability, while bridged KAS serves as the Layer 2 gas token.

Ross Stores (ROST - Free Report) closed at $234.18 in the latest trading session, marking a -1.29% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.58%. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 1.05%.

Shares of the discount retailer witnessed a gain of 2.03% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 4.75%, and outperforming the S&P 500's gain of 0.97%.

Market participants will be closely following the financial results of Ross Stores in its upcoming release. It is anticipated that the company will report an EPS of $1.82, marking a 15.19% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 10.68% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $8.77 per share and a revenue of $25.65 billion, demonstrating changes of +32.68% and +12.76%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Ross Stores. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ross Stores currently has a Zacks Rank of #2 (Buy).

Digging into valuation, Ross Stores currently has a Forward P/E ratio of 27.05. This expresses a premium compared to the average Forward P/E of 21.73 of its industry.

It is also worth noting that ROST currently has a PEG ratio of 1.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 1.85.

The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 18, placing it within the top 8% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Private equity giant Blackstone is putting itself at the center of the AI boom, firm veteran Jas Khaira discussed last week on stage at TechCrunch Disrupt.

It is writing checks via various strategies, ranging from offering massive loans to data centers to investing in frontier AI models and applications.

Earlier this year, the firm launched Blackstone N1 (BXN1), a San Francisco-based central hub for its AI initiatives. The group is led by Khaira, who relocated from New York to be at the epicenter of AI.

Unlike earlier tech cycles such as mobile or SaaS, which allowed companies to reach significant scale with moderate capital, the transition to AI requires staggering amounts of investment. That need for capital is precisely why Blackstone, with its $1.3 trillion in assets under management, could play such a critical role in this tech shift.

Khaira emphasized that Blackstone sets itself apart from traditional venture capitalists through its focus on compute financing and its ability to offer flexible capital structures, ranging from debt to equity. And it has been investing aggressively.

“We’re the largest owner of compute outside of the hyperscalers today, whether it’s investments in neo clouds, investments in data centers, and being able to use that compute strategically to support companies,” Khaira said.

For instance, BXN1 played a key role in several compute-related deals, among them Crux AI, a neocloud launched in partnership with Google to commercialize its custom TPUs, to which Blackstone committed $5 billion as an investor. It also backed four-year-old Etched, a chip startup whose rapid development has caught investor attention. Neoclouds are cloud providers that rent out AI GPU infrastructure.

Blackstone pioneered a financing structure that allowed it to lend massive sums to venture-backed cloud neoclouds by analyzing both committed customer contracts and using GPUs pledged as collateral.

Blackstone’s first such deal came in 2023 with CoreWeave, shortly after that neocloud saw demand explode following the launch of ChatGPT. Despite having only “30 million of revenue and minimal profitability” at that time, according to Khaira, CoreWeave approached Blackstone for a $2.3 billion loan.

CoreWeave was borrowing against the considerable value of its large collection of Nvidia GPUs, with Nvidia also an investor. Blackstone also grew more comfortable with the loan because CoreWeave had contracts with blue-chip customers like Microsoft.

That transaction quickly became the financing model for how Blackstone and other credit institutions provided billions in follow-on debt to CoreWeave and rival neoclouds.

“One of the primary things that we’re looking to is the nature of the customer. And if the customer is an investment-grade customer — let’s say it’s Microsoft or let’s say it’s Meta — the risk gets priced relative to that customer,” Khaira said.

Building on its success with CoreWeave, Blackstone struck other neocloud financing deals, including co-leading alongside Coatue a $10 billion credit facility for Australian GPU provider Firmus earlier this year.

Khaira acknowledged that in recent weeks, the large debt burdens accumulated by these companies and other neocloud operators have begun to raise red flags. Coreweave’s debt alone has since ballooned to about $50 billion, causing Altimeter Capital founder Brad Gerstner to note in a recent CNBC interview, “The collateral that CoreWeave is putting up which is really only GPUs is not good enough anymore. They used that in the past to get cheap debt.”

Khaira said that on the credit side, the market jitters stem from a combination of factors. Interest rates ticked up in September, and hotter-than-expected inflation signals that borrowing costs may keep climbing. The flood of AI infrastructure debt offerings isn’t helping either.

“We’re also seeing higher credit spreads,” Khaira said, explaining that lenders are charging higher premiums on top of already higher base interest rates to finance the AI buildout. “The cost of capital to price in debt for a Meta or a Microsoft has widened out,” he added, pointing out that even tech giants with massive balance sheets and solid earnings are paying more to borrow.

Concerns about the rising cost of debt have spilled into the stock market. Shares of CoreWeave dropped over 20% in recent days, while Firmus scrapped its planned IPO on the Australian Securities Exchange at a target valuation of roughly $30 billion.

“Ultimately, the market wasn’t there at that valuation, and so I think as a result, that deal didn’t get done,” Khaira said about Firmus’ cancelled listing.

“The market is thinking what is the right price for neoclouds, what is the right price for these businesses in this moment when interest rates are moving up,” he said.

Despite those pressures on some infrastructure providers, AI companies simply can’t get enough compute to power their models. Their appetite continues to drive data center buildout.

Khaira downplayed worries of doom-mongers that the massive accumulation of AI infrastructure debt could lead to a widespread credit crisis, or worse, crash the economy altogether. “This doesn’t feel like something where you’ve got 2008 banks that are shaky credits,” he said.

Instead, he pointed out that because the vast majority of data centers are built for hyperscalers, the debt financing them is ultimately backed “by the most creditworthy companies in the world.”

Beyond funding data centers, Blackstone is helping companies adopt AI through a $1.5 billion joint venture called “Ode with Anthropic,” formed alongside Anthropic and Hellman & Friedman this year. Ode supplies forward-deployed engineers to help companies adopt AI and integrate it into their operations, starting with Blackstone’s 280 portfolio companies.

When asked if Blackstone-owned companies are seeing tangible gains from AI, Khaira conceded that “there is definitely ROI, but it is uneven.” He described technology adoption as something that could move in a “sawtooth-type pattern,” which, to skeptics, can look like an oversupply of compute before adoption catches up.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

, /PRNewswire/ -- BancFirst Corporation (NASDAQ GS: BANF) reported net income of $67.3 million, or $1.97 per diluted share, for the third quarter of 2026 compared to net income of $62.7 million, or $1.85 per diluted share, for the third quarter of 2025. 

The Company's net interest income for the three-months ending September 30, 2026 increased to $136.0 million from $125.6 million for the same period in 2025. Higher loan volume and general growth in earning assets were the primary drivers of the change in net interest income. Net interest margin was 3.85% for the third quarter of 2026 compared to 3.79% for the third quarter of 2025. The Company recorded a provision for credit losses of $3.1 million and $4.4 million for the quarters ended September 30, 2026 and 2025, respectively.

Noninterest income for the quarter totaled $51.4 million compared to $49.9 million for the same quarter last year. Service charges on deposits and treasury income each increased when compared to third quarter of 2025.

Noninterest expense grew to $98.2 million for the quarter ended September 30, 2026 compared to $92.1 million in the same quarter in 2025. The increase in noninterest expense was primarily attributable to the growth in salaries and employee benefits of $4.1 million.

At September 30, 2026, the Company's total assets were $15.0 billion, an increase of $182.3 million from December 31, 2025. Loans grew $187.9 million from December 31, 2025, totaling $8.7 billion at September 30, 2026. Deposits totaled $12.7 billion, an increase of $29.3 million from year-end 2025. Sweep accounts totaled $4.7 billion at the end of the third quarter, down $282.5 million from December 31, 2025. The Company's stockholders' equity stood at $2.0 billion, an increase of $142.9 million from the end of 2025.

Nonaccrual loans represented 0.87% of total loans at September 30, 2026, up from 0.72% at year-end 2025. Nonaccrual loans totaled $75.6 million at the end of the third quarter 2026; one commercial loan was the primary driver of the nonaccrual loans balance. The allowance for credit losses to total loans was 1.23% at September 30, 2026 and 1.22% at December 31, 2025. Net charge-offs totaled $4.0 million for the quarter compared to $1.7 million for the third quarter last year. Of the $4.0 million net charge-offs for the quarter, $1.8 million was related to purchased credit deteriorated loans. At acquisition, the Company identified these loans as credit deteriorated and recorded reserves for expected credit losses. These loans performed in line with expectations subsequent to acquisition.

BancFirst Corporation CEO David Harlow commented, "Earnings for the quarter were strong, driven by growth in earning assets, a sustained margin, year-over-year growth in non-interest income combined with expenses in line with plan. Capital levels remain strong and the allowance for credit losses is ample – both at levels necessary to support the Company through future economic cycles. Asset quality metrics are stable and charge-offs remain in line with historical levels. While business development pipelines are encouraging, we expect higher interest rates and a higher-for-longer rate outlook to have a dampening effect on future economic activity. Our previously announced acquisition of Tulsa-based Spirit Bank is on schedule to close in October."

BancFirst Corporation (the Company) is an Oklahoma based financial services holding company. The Company operates three subsidiary banks, BancFirst, an Oklahoma state-chartered bank with 108 banking locations serving 62 communities across Oklahoma, Pegasus Bank, a Texas state-chartered bank with three banking locations in the Dallas Metroplex area, and Worthington Bank, a Texas state-chartered bank with three locations in the Fort Worth Metroplex area, one location in Arlington, Texas and one location in Denton, Texas. More information can be found at www.bancfirst.bank.

The Company may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 with respect to earnings, credit quality, corporate objectives, interest rates and other financial and business matters. Forward-looking statements include estimates and give management's current expectations or forecasts of future events. The Company cautions readers that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, including economic conditions, the performance of financial markets and interest rates; legislative and regulatory actions and reforms; competition; as well as other factors, all of which change over time. Actual results may differ materially from forward-looking statements.

BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share and share data - Unaudited)

2026

2026

2026

2025

2025

3rd Qtr  

2nd Qtr  

1st Qtr  

4th Qtr  

3rd Qtr  

 Condensed Income Statements:  

 Net interest income  

$                   135,999

$                   133,536

$                   127,605

$                   127,667

$                   125,615

 Provision for credit losses on loans 

3,203

4,831

2,578

(1,975)

4,222

Provision for/(benefit from) off-balance
sheet credit exposures

(110)

48

(435)

234

216

 Noninterest income:

Trust revenue

5,874

6,078

6,057

5,933

5,850

Service charges on deposits

19,308

19,090

18,042

18,393

18,131

Securities transactions

103

725

904

964

492

Sales of loans

800

913

780

781

916

Insurance commissions

8,680

7,481

9,440

7,643

8,954

Cash management

10,933

10,922

10,566

10,120

10,338

Other

5,688

8,740

5,602

9,499

5,185

Total noninterest income  

51,386

53,949

51,391

53,333

49,866

 Noninterest expense:

Salaries and employee benefits

61,829

60,306

58,855

58,570

57,681

Occupancy expense, net

6,672

6,320

6,286

6,946

6,434

Depreciation

5,101

4,988

4,816

4,872

4,725

Amortization of intangible assets

975

974

975

836

862

Data processing services

3,043

2,990

3,448

3,041

2,901

Net expense from other real estate owned

2,420

4,567

3,605

12,044

2,778

Marketing and business promotion

2,311

2,077

2,641

3,121

2,126

Deposit insurance

1,775

1,642

1,847

1,692

1,736

Other

14,083

13,667

14,316

16,268

12,829

   Total noninterest expense  

98,209

97,531

96,789

107,390

92,072

 Income before income taxes  

86,083

85,075

80,064

75,351

78,971

 Income tax expense  

18,829

18,388

17,069

15,854

16,317

 Net income  

$                    67,254

$                    66,687

$                    62,995

$                    59,497

$                    62,654

 Per Common Share Data:  

 Net income-basic  

$                        2.00

$                        1.98

$                        1.88

$                        1.78

$                        1.88

 Net income-diluted  

1.97

1.96

1.85

1.75

1.85

 Cash dividends declared

0.52

0.49

0.49

0.49

0.49

 Common shares outstanding  

33,619,174

33,598,745

33,575,976

33,539,032

33,329,247

 Average common shares outstanding - 

   Basic 

33,610,010

33,586,922

33,557,536

33,423,922

33,310,290

   Diluted 

34,086,332

34,057,507

34,027,895

33,906,434

33,864,129

 Performance Ratios:  

 Return on average assets

1.76 %

1.77 %

1.71 %

1.60 %

1.76 %

 Return on average stockholders' equity

13.42

13.84

13.59

13.02

14.18

 Net interest margin  

3.85

3.84

3.74

3.71

3.79

 Efficiency ratio  

52.41

52.02

54.07

59.33

52.47

BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share and share data - Unaudited)

2026

2026

2026

2025

2025

3rd Qtr

2nd Qtr

1st Qtr  

4th Qtr

3rd Qtr

Balance Sheet Data:

Total assets 

$   15,021,230

$   15,082,243

$   15,116,541

$   14,838,893

$   14,198,140

Interest-bearing deposits with banks

4,010,740

4,164,678

4,430,751

4,177,406

3,849,736

Debt securities 

1,100,934

1,113,240

886,519

924,948

1,015,941

Total loans 

8,732,546

8,655,260

8,596,068

8,544,634

8,287,167

Allowance for credit losses 

(107,048)

(107,810)

(105,330)

(104,299)

(99,511)

Noninterest-bearing demand deposits

4,049,891

4,162,306

4,105,840

3,897,613

3,816,389

Money market and interest-bearing checking deposits

5,400,606

5,442,757

5,605,932

5,610,882

5,393,791

Savings deposits

1,450,321

1,428,690

1,391,142

1,318,062

1,251,394

Time deposits

1,798,892

1,792,537

1,798,187

1,843,836

1,656,813

Total deposits 

12,699,710

12,826,290

12,901,101

12,670,393

12,118,387

Stockholders' equity 

1,997,061

1,957,097

1,901,912

1,854,125

1,782,801

Book value per common share 

59.40

58.25

56.65

55.28

53.49

Tangible book value per common share (non-GAAP)(1) 

53.40

52.21

50.58

49.20

47.71

Balance Sheet Ratios: 

Average loans to deposits 

67.49 %

67.02 %

67.02 %

66.43 %

67.32 %

Average earning assets to total assets 

92.66

92.45

92.84

93.00

93.00

Average stockholders' equity to average assets 

13.14

12.79

12.60

12.33

12.38

Asset Quality Data:

Past due loans

$           6,028

$           7,077

$           8,364

$           8,115

$           7,959

Nonaccrual loans (3)

75,620

81,420

62,178

61,130

57,266

Other real estate owned and repossessed assets

60,299

61,703

53,649

49,134

53,233

Nonaccrual loans to total loans

0.87 %

0.94 %

0.72 %

0.72 %

0.69 %

Allowance to total loans

1.23

1.25

1.23

1.22

1.20

Allowance to nonaccrual loans

141.56

132.41

169.40

170.62

173.77

Net charge-offs to average loans

0.04

0.03

0.02

0.02

0.02

Reconciliation of Tangible Book Value Per Common Share (non-GAAP)(2):

Stockholders' equity 

$     1,997,061

$     1,957,097

$     1,901,912

$     1,854,125

$     1,782,801

Less goodwill

183,388

183,388

183,388

182,739

182,263

Less intangible assets, net

18,433

19,408

20,382

21,357

10,548

Tangible stockholders' equity (non-GAAP)

$     1,795,240

$     1,754,301

$     1,698,142

$     1,650,029

$     1,589,990

Common shares outstanding

33,619,174

33,598,745

33,575,976

33,539,032

33,329,247

Tangible book value per common share (non-GAAP) 

$           53.40

$           52.21

$           50.58

$           49.20

$           47.71

(1)     Refer to the "Reconciliation of Tangible Book Value per Common Share (non-GAAP)" Table.

(2)     Tangible book value per common share is stockholders' equity less goodwill and intangible assets, net, divided by common shares outstanding. This amount is a non-GAAP financial measure but has been included as it is considered to be a critical metric with which to analyze and evaluate the financial condition and capital strength of the Company. This measure should not be considered a substitute for operating results determined in accordance with GAAP. 

(3) Government Agencies guarantee approximately $4.1 million of nonaccrual loans at September 30, 2026.

BancFirst Corporation

Summary Financial Information

(Dollars in thousands, except per share and share data - Unaudited)

Nine months ended

September 30,

2026

2025

 Condensed Income Statements:  

 Net interest income  

$      397,140

$      362,820

 Provision for credit losses on loans 

10,612

6,922

 (Benefit from)/provision for off-balance sheet credit exposures

(497)

489

 Noninterest income:

Trust revenue

18,009

17,184

Service charges on deposits

56,440

52,676

Securities transactions

1,732

(581)

Sales of loans

2,493

2,382

Insurance commissions

25,601

27,284

Cash management

32,421

30,962

Other

20,030

16,901

Total noninterest income  

156,726

146,808

 Noninterest expense:

Salaries and employee benefits

180,990

167,421

Occupancy expense, net

19,278

18,224

Depreciation

14,905

14,224

Amortization of intangible assets

2,924

2,610

Data processing services

9,481

8,778

Net expense from other real estate owned

10,592

8,377

Marketing and business promotion

7,029

6,912

Deposit insurance

5,264

5,136

Other

42,066

40,768

Total noninterest expense  

292,529

272,450

 Income before income taxes  

251,222

229,767

 Income tax expense  

54,286

48,654

 Net income  

$      196,936

$      181,113

 Per Common Share Data:  

 Net income-basic  

$             5.86

$             5.44

 Net income-diluted  

5.78

5.36

 Cash dividends declared

1.50

1.41

 Common shares outstanding  

33,619,174

33,329,247

 Average common shares outstanding - 

   Basic 

33,585,015

33,266,315

   Diluted 

34,057,527

33,812,270

 Performance Ratios:  

 Return on average assets

1.75 %

1.74 %

 Return on average stockholders' equity

13.62

14.26

 Net interest margin  

3.81

3.75

 Efficiency ratio  

52.82

53.46

BancFirst Corporation

Consolidated Average Balance Sheets

And Interest Margin Analysis

Taxable Equivalent Basis

(Dollars in thousands - Unaudited)

Three Months Ended

Nine Months Ended

September 30, 2026

September 30, 2026

Interest

Average

Interest

Average

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

ASSETS

Earning assets:

  Loans

$          8,667,984

$            150,005

6.87

%

$    8,610,147

$   442,335

6.87

%

  Securities – taxable

1,095,827

9,007

3.26

999,790

22,293

2.98

  Securities – tax exempt

6,486

64

3.92

6,925

198

3.82

  Interest bearing deposits with banks and FFS

4,247,434

40,003

3.74

4,327,537

120,127

3.71

     Total earning assets

14,017,731

199,079

5.63

13,944,399

584,953

5.61

Nonearning assets:

  Cash and due from banks

208,416

217,024

  Interest receivable and other assets

1,008,461

994,958

  Allowance for credit losses

(106,823)

(105,469)

     Total nonearning assets

1,110,054

1,106,513

     Total assets

$        15,127,785

$  15,050,912

LIABILITIES AND STOCKHOLDERS' EQUITY

Interest bearing liabilities:

  Money market and interest-bearing checking deposits

$          5,480,251

$              35,611

2.58

%

$    5,524,357

$   105,531

2.55

%

  Savings deposits

1,445,206

9,871

2.71

1,401,712

28,276

2.70

  Time deposits

1,798,060

16,192

3.57

1,811,110

49,609

3.66

  Short-term borrowings

6,007

29

1.94

11,600

273

3.15

  Long-term borrowings

-

-

-

2,026

42

2.77

  Subordinated debt

86,247

1,030

4.74

86,233

3,091

4.79

  Other liabilities

16,769

201

4.76

16,747

533

4.26

     Total interest bearing liabilities

8,832,540

62,934

2.83

8,853,785

187,355

2.83

Interest free funds:

  Noninterest bearing deposits

4,119,209

4,079,560

  Interest payable and other liabilities

188,240

184,104

Equity

1,987,796

1,933,463

     Total interest free  funds

6,295,245

6,197,127

     Total liabilities and stockholders' equity

$        15,127,785

$  15,050,912

Net interest income

$            136,145

$   397,598

Net interest spread

2.80

%

2.78

%

Effect of interest free funds

1.05

%

1.03

%

Net interest margin

3.85

%

3.81

%

SOURCE BancFirst Corporation

In its upcoming report, First Interstate BancSystem (FIBK - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.70 per share, reflecting an increase of 1.5% compared to the same period last year. Revenues are forecasted to be $248.88 million, representing a year-over-year decrease of 1.2%.

The consensus EPS estimate for the quarter has undergone an upward revision of 2.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

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

The combined assessment of analysts suggests that 'Net FTE interest margin ratio' will likely reach 3.5%. Compared to the current estimate, the company reported 3.4% in the same quarter of the previous year.

Analysts' assessment points toward 'Efficiency Ratio' reaching 63.6%. The estimate compares to the year-ago value of 61.7%.

Based on the collective assessment of analysts, 'Total risk-based capital to total risk-weighted assets' should arrive at 17.7%. Compared to the present estimate, the company reported 16.6% in the same quarter last year.

According to the collective judgment of analysts, 'Average Balance - Total interest earning assets' should come in at $23.36 billion. Compared to the present estimate, the company reported $24.59 billion in the same quarter last year.

Analysts expect 'Leverage ratio' to come in at 9.8%. Compared to the present estimate, the company reported 9.6% in the same quarter last year.

The average prediction of analysts places 'Total non-performing loans' at $147.91 million. The estimate is in contrast to the year-ago figure of $182.20 million.

The consensus among analysts is that 'Total non-performing assets' will reach $153.68 million. Compared to the present estimate, the company reported $185.60 million in the same quarter last year.

The consensus estimate for 'Tier 1 risk-based capital to total risk-weighted assets' stands at 14.9%. Compared to the current estimate, the company reported 13.9% in the same quarter of the previous year.

It is projected by analysts that the 'Net Interest Income' will reach $204.89 million. The estimate is in contrast to the year-ago figure of $206.80 million.

The collective assessment of analysts points to an estimated 'Total noninterest Income' of $42.60 million. The estimate is in contrast to the year-ago figure of $43.70 million.

Analysts forecast 'Wealth management revenues' to reach $10.72 million. Compared to the present estimate, the company reported $10.40 million in the same quarter last year.

Analysts predict that the 'Net interest income on a fully-taxable equivalent basis' will reach $206.65 million. Compared to the current estimate, the company reported $208.20 million in the same quarter of the previous year.

View all Key Company Metrics for First Interstate BancSystem here>>>

Shares of First Interstate BancSystem have experienced a change of -2.7% in the past month compared to the +1% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), FIBK is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Medpace (MEDP - Free Report) came out with quarterly earnings of $4.84 per share, beating the Zacks Consensus Estimate of $4.45 per share. This compares to earnings of $3.86 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.76%. A quarter ago, it was expected that this provider of outsourced clinical development services would post earnings of $4.08 per share when it actually produced earnings of $4.25, delivering a surprise of +4.17%.

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

Medpace, which belongs to the Zacks Medical Services industry, posted revenues of $716 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.02%. This compares to year-ago revenues of $659.9 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.

Medpace shares have added about 10.8% since the beginning of the year versus the S&P 500's gain of 12.7%.

What's Next for Medpace?While Medpace 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 Medpace 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 $4.64 on $714.03 million in revenues for the coming quarter and $17.54 on $2.84 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, Medical Services is currently in the bottom 34% 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, PACS Group, Inc. (PACS - Free Report) , has yet to report results for the quarter ended September 2026.

This company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +75%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

PACS Group, Inc.'s revenues are expected to be $1.45 billion, up 8.1% from the year-ago quarter.

Plugging In: How Kinder Morgan Powers Up ProfitsKinder Morgan NYSE: KMI reported record third-quarter results and expanded its project backlog to $14.4 billion, led by major natural-gas infrastructure investments aimed at serving power generation, LNG exports and growing data-center-related demand.

Chief Executive Officer Kim Dang said adjusted earnings per share rose 21% from the third quarter of 2025, while adjusted EBITDA increased 9%. Every business segment contributed to year-over-year growth, she said. The company also raised its expectations for the full year, forecasting adjusted EPS more than 13% above budget and adjusted EBITDA more than 6% above budget.

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3 Dividend Stocks with Growth on Tap for the Second Half“We are delivering strong results today while continuing to build a longer runway for high-quality future growth,” Dang said.

Quarterly Results and Dividend Chief Financial Officer David Michels said net income attributable to Kinder Morgan totaled $764 million, or $0.24 per share, compared with the prior-year quarter. Adjusted EPS was $0.35, up 21% year over year, while adjusted EBITDA reached $2.18 billion, a 9% increase and a third-quarter record for the company.

Pipelines and Automation: 2 Energy Plays Built for Any Oil PriceThe company declared a quarterly dividend of $0.2975 per share, equivalent to $1.19 per share on an annualized basis. The dividend represents a 2% increase over 2025, Michels said.

Year to date, adjusted EBITDA has risen 13% and adjusted EPS has increased 32% from 2025, according to the company. Michels said Kinder Morgan’s 2026 outperformance includes approximately $225 million from several potentially nonrecurring items, including Winter Storm Fern and extended Northeast cold weather, a terminals contract buyout, a favorable Federal Energy Regulatory Commission rate true-up and an unusually favorable Waha-to-Houston Ship Channel pricing spread. Favorable commodity prices added another $175 million versus budget, he said.

Kinder Morgan ended the quarter with net debt-to-adjusted EBITDA of about 3.5 times, down from 3.8 times at the beginning of the year. The company expects to finish the year at about 3.6 times leverage despite spending related to the Monument acquisition and higher-than-budgeted capital expenditures.

Backlog Rises on Major Natural Gas Projects The company added $5.4 billion in projects to its backlog during the quarter and placed $700 million of projects into service. Dang said the backlog increased from $9.6 billion to $14.4 billion and carries an average project multiple of 5.7 times.

Two joint-venture projects accounted for most of the additions: Southern Natural Gas’ Southeast Connector and Natural Gas Pipeline Company of America’s Permian Link. Kinder Morgan’s share of the two projects is approximately $4.7 billion. Both are backed by take-or-pay agreements of at least 20 years with creditworthy shippers, management said.

Southeast Connector: Designed to deliver about 2.6 billion cubic feet per day of natural gas into the Southeast, a region Kinder Morgan identified as one of the country’s fastest-growing demand areas. Dang said large-load interconnection requests in the region exceed 200 gigawatts, which could equate to roughly 8 Bcf per day of gas demand if fully developed and supplied by gas-fired generation. Permian Link: Intended to transport Permian Basin gas north to meet increasing power demand in the Texas Panhandle. The project is contracted with an A-rated hyperscaler, according to Kinder Morgan. Dang said Permian Link is expected to enter service in 2030, while Southeast Connector is scheduled to come online in stages from 2030 through 2032. The project timing extends the company’s visible growth runway beyond its previously approved developments.

During the question-and-answer session, President of Natural Gas and Pipelines Sital Mody said Kinder Morgan received more than 2 Bcf of interest during a nonbinding open season for its Tennessee Gas Pipeline 219 South project. He estimated the project could involve roughly $1.5 billion in capital spending in its initial, primarily brownfield form, though a larger 2 Bcf-to-3 Bcf-per-day project would require more investment.

Mody also said Southeast Connector could potentially be expanded to 3.5 Bcf per day, depending on additional signed customer commitments. Dang said Kinder Morgan already has enough signed commitments to move forward with a final investment decision on the project.

Segment Performance In the natural gas business, transportation volumes increased 3% from the prior-year quarter, supported by higher LNG feed-gas deliveries on Tennessee Gas Pipeline and increased demand on the company’s intrastate system. Natural gas gathering volumes rose 14%, including a 40% increase on the KinderHawk system in the Haynesville.

Products pipeline refined-product volumes declined 3%, while crude and condensate volumes fell 11%. More than half of the crude-volume decline resulted from the removal of the Double H pipeline from service for an NGL conversion early in the third quarter of 2025, Mody said.

Kinder Morgan also reached a final investment decision during the quarter on the Western Gateway project, which is intended to change how clean products are delivered to the desert Southwest and Southern California. Kinder Morgan’s total cash investment of $300 million, including a $250 million contribution to the joint venture and $50 million for non-contributed assets, was added to backlog. The project is expected to enter service in 2029.

In terminals, liquids lease capacity remained near 93%, while utilization of available tanks at key Houston Ship Channel and Carteret, New Jersey, hubs stood just below 96%. Export activity at the company’s Houston Ship Channel docks reached 427,000 barrels per day, up 39% from the third quarter of 2025 and an all-time record, Mody said.

The CO2 segment recorded an 8% increase in net oil production volumes, led by an 11% increase at SACROC. Renewable natural gas volumes rose 18%, which management attributed to improved operating uptime and hydrocarbon recovery.

Long-Term Natural Gas Outlook Executive Chairman Rich Kinder pointed to third-party forecasts supporting the company’s long-term natural-gas outlook. He cited Shell’s expectation that global LNG demand will reach nearly 750 million metric tons per year by 2050, up 65% from 2025, as well as North American Electric Reliability Corp. estimates for 225 gigawatts to 245 gigawatts of U.S. peak electricity-demand growth by 2035.

Kinder said the company currently delivers about 40% of U.S. natural gas, including approximately 40% of LNG feed gas and more than half of gas exports to Mexico. He said the $14.4 billion backlog could add roughly $2.5 billion of EBITDA once projects are completed.

About Kinder Morgan (NYSE:KMI)Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company's natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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