Stárnutí baby boomerů a téměř zastavená nová výstavba senior housing zvyšují cenovou sílu REITů. Nejvíc z toho těží Welltower a Ventas, zatímco CareTrust nabízí nejvyšší výnos a nejsilnější krytí dividendy.
Baby boomers are turning 80 in waves while new senior housing construction has nearly stopped, and that collision of demographics and supply is reshaping how much income four REITs can realistically promise their investors.
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The leading edge of the “nearly 70 million baby boomers has just begun turning 80 this year”, according to the Ventas (NYSE:VTR) chief executive, and new construction is close to a halt. Ventas executives noted “a little over a thousand starts this quarter and there’s two million people turning 80 just in 2026.” When demand rises and supply doesn’t, landlords gain pricing power, and that is the background for this edition of REIT Rent Check on senior housing and skilled nursing. September was a rough month for the group anyway. Over the past month, Ventas fell 8.5% and CareTrust REIT (NYSE:CTRE) fell 9.11%. That decline raised yields across the roster. All four names below are equity REITs that own buildings. Their dividends come from rent and operating income.
Two Ways a Senior Housing REIT Gets Paid The operator structure determines how much risk sits in each rent check. In a triple-net lease, an operator pays the REIT a fixed rent, usually with annual increases, and covers taxes, insurance and maintenance. The REIT’s risk is whether the operator can keep paying, so the number to track is rent coverage (operator EBITDAR divided by rent). In a SHOP (senior housing operating portfolio, sometimes called RIDEA) structure, the REIT owns the building and keeps the operating profit, while a manager runs the community for a fee.
That arrangement gives the REIT the full upside when occupancy and rates rise, and the full downside when costs jump. Welltower (NYSE:WELL) and Ventas lean mostly on SHOP. Omega Healthcare Investors (NYSE:OHI) and CareTrust lean mostly on triple-net. Dividend safety below is measured on FFO, AFFO or FAD (cash flow measures REITs use in place of net income), and each section names the metric it uses.
REIT Price (Oct. 1 Close) Forward Annual Dividend Forward Yield Coverage Read Welltower $226.94 $3.40 1.50% 53% of normalized FFO guidance midpoint Ventas $83.73 $2.08 2.48% 54% of normalized FFO guidance midpoint Omega Healthcare $45.23 $2.72 6.01% 84% of AFFO guidance midpoint CareTrust REIT $35.91 $1.56 4.34% approximately 76% of normalized FAD (company disclosed) Welltower Trades Yield for the Fastest Growth in Senior Housing Welltower is the largest pure-play senior housing REIT. It owns communities across the U.S., the U.K. and Canada, plus outpatient medical and post-acute assets. The SHOP segment generated $3.03B of second-quarter revenue, so Welltower gets operating profit directly. Most of that revenue comes from wealthy residents: private pay makes up 93.0% of SHOP revenue, which limits exposure to Medicaid budget fights.
SHOP same-store NOI rose 20.5% year over year, same-store occupancy climbed to 89.4% from 86.1%, and RevPOR (revenue per occupied room) grew 5.2%. SHOP expense growth was only about 0.7%, which is why flow-through margins reached the mid-60% range.
Yield and coverage: Welltower raised its quarterly dividend 15% to $0.85, its 221st consecutive quarterly dividend. At the October 1 close, that works out to a forward yield of 1.50%, the lowest on this list. On normalized FFO, the payout is very safe. Full-year guidance was raised to $6.36 to $6.44 per diluted share, and the $3.40 annualized dividend uses about 53% of the midpoint. Leverage finished the quarter at 2.99 times net debt to adjusted EBITDA.
Bull case: Welltower closed $15.5B of gross investments through the first half, including the C$4.1B Amica Senior Lifestyles deal. Much of the newly acquired product was bought at roughly 75% occupancy and about a 20% discount to replacement cost, which leaves room for occupancy gains. As management put it, “Closing an acquisition is not the culmination of the work. It is the moment the work begins.”
Risk: Growth this fast depends on outside capital. Welltower raised $3.9 billion in a single quarter through share issue, OP units and capital recycling. The stock is down 5.61% over the past month, though it is still up 23.57% year to date.
Ventas Pairs Double-Digit SHOP Growth With a Shrinking Debt Load Ventas is steering its portfolio toward SHOP. That segment produced $1.36B of second-quarter revenue, compared with $229M from outpatient medical and research and $125M from triple-net leases. Management expects SHOP to reach 60% of a $60 billion enterprise by year-end.
SHOP same-store cash NOI rose 16.3% year over year, and the U.S. portfolio grew 18%. Average occupancy gained 300 bps (U.S. SHOP gained 360 bps), RevPOR grew 5%, and cash NOI margin expanded 210 bps. Chief Executive Debra A. Cafaro framed the setup directly: “Demographic demand is strong and getting stronger as the baby boomers begin turning 80 this year. Meanwhile, new supply remains at historic lows, setting up a compelling multiyear runway for growth and value creation.”
Yield and coverage: The quarterly dividend is $0.52, up from $0.48 through 2025, and the next payment is due October 15, 2026. The forward yield is 2.48%. Normalized FFO guidance was raised to $3.85 to $3.90 per share, and the $2.08 annualized dividend takes about 54% of the $3.88 midpoint. That is a well-covered payout with room to grow.
Bull case: Net debt to further adjusted EBITDA has fallen to 4.7x from 5.6x a year earlier. Ventas also raised its 2026 investment target to $4.5B from $3B. Its U.S. senior housing portfolio stands at 87% occupied, compared with Welltower’s same-store pool near 89.4%, so Ventas has more occupancy path left before pricing power fully kicks in.
Risk: Ventas is buying at an average expected year-one yield of 6.6%. Funding those deals with stock pays off only while the share price remains strong. The stock has fallen 8.5% in a month, which makes each new share issued more dilutive.
Omega Healthcare Clears the Ultra-High-Yield Bar, With a Bankruptcy Attached Omega is mainly a skilled nursing landlord. Triple-net investments generated $324M of second-quarter revenue, while a new operating portfolio added $5.4M. Omega also makes real estate loans to operators. It is still an equity REIT whose income comes mostly from property leases. Because skilled nursing relies heavily on Medicaid and Medicare, the key number here is operator rent coverage. Trailing 12-month EBITDAR coverage improved to 1.65x from 1.55x, and operator occupancy held at 82.6%.
Yield and coverage: The quarterly dividend rose a cent to $0.68, the highest amount in the company’s recorded dividend history. The payout had been stuck at $0.67 since early 2020. The forward yield is 6.01%, just above the 6% line. Second-quarter AFFO came in at $0.83 per diluted share and FAD at $0.78, both above the quarterly dividend. Full-year AFFO guidance was raised to $3.22 to $3.26 per share, so the annualized dividend uses about 84% of the midpoint. That coverage is adequate, but the buffer is the smallest in this group.
Bull case: Taylor Pickett, the chief executive, who has announced his retirement, said “the long anticipated baby boomer aging is here and is showing up in demand for both SNFs and senior housing.” Leverage is at 3.3 times. Management also said “6-7% annualized FAD growth is eminently achievable.”
Risk: Genesis Healthcare is still in Chapter 11, with $148.5M of Omega loans outstanding. Omega’s guidance assumes Genesis keeps paying $13.3M per quarter in contractual rent. Management expects the buyer to assume the master lease on the same terms, with a closing expected by the end of 2026. If that deal changes, the 84% coverage buffer gets thin quickly.
CareTrust REIT Brings the Strongest Coverage and the Lowest Leverage CareTrust owns 628 properties with 58,775 beds/units. Most are leased triple-net. Skilled nursing rent totaled $81.2M in the second quarter and senior housing triple-net $37.1M, alongside a small SHOP book and $26.8M of interest income from loans. Leases carry 2.5% inflation-based increases. Stabilized EBITDARM coverage stands at 3.21x for skilled nursing and 2.16x for senior housing, with 100% rent and interest collection. Stabilized occupancy is 83.9%.
Yield and coverage: The $0.39 quarterly dividend, paid next on October 15, 2026, yields 4.34%. CareTrust says the dividend represents approximately 76% of normalized FAD. Guidance calls for normalized FAD of $2.01 to $2.04 per share, up 15.1% at the midpoint. The dividend has increased from $0.29 in 2024 to $0.335 in 2025 and to its current level.
Bull case: CareTrust closed $899.6M of investments in the second quarter at an 8.9% combined stabilized yield, its biggest quarter outside M&A. Net debt to run-rate EBITDA was just 1.0 times, the company has no debt due dates before 2028, and Moody’s upgraded it to investment grade. CEO Dave Sedgwick said “there has simply never been a more exciting time for CareTrust.”
Risk: The loan book is growing, and it already produced a cost. CareTrust recorded a $4.67M provision for loan losses in the quarter. Loans carry operator credit risk that a deed to a building does not, so watch reserve levels as the company deploys more capital this way.
Where the Rent Checks Look Safest CareTrust offers the best balance in this group: a 4.34% yield, a payout of roughly 76% of FAD, and the strongest coverage. Welltower and Ventas pay smaller yields but cover their dividends about twice over on FFO, and their SHOP growth is where future increases will come from. Omega pays the most, and the Genesis bankruptcy outcome will determine whether that 6% yield holds.
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Rostoucí výnosy amerických státních dluhopisů srazily pět dividendových titulů z energetiky a utilit. Nejlépe chráněné dividendy mají podle článku Kinder Morgan a Duke Energy.
Rising Treasury yields just knocked five pipeline and utility stocks to levels that have income investors asking whether the selloff created a buying window or a warning sign worth heeding.
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The 10-year Treasury yield rose from 4.77% on Sept. 3 to 5.29% on Sept. 30, and income stocks sold off with it. That pushed down prices on five dividend payers that share one income angle: fee-based pipeline contracts and regulated power rates that fund growing dividends, while capital spending shifts toward LNG exports and data-center electricity demand. All five yields below sit under the Treasury, so the case for each depends on dividend safety and growth. Here is how the payouts hold up.
Williams Companies: Pipeline Payout Raised Every Year Since 2018 Williams Companies (NYSE:WMB | WMB Price Prediction) pays an annualized forward dividend of $2.10 per share. At $69.30, that works out to a forward yield of about 3.03%. Shares slipped 7.22% over the past month, and they are still up 17.8% year to date.
Dividend Safety Check The quarterly dividend went from $0.30 in 2017 to $0.34 in 2018, and Williams has raised it every year since. The latest step was from $0.50 to $0.525 in 2026. For a pipeline company, cash flow says more about coverage than earnings do. Williams guided to 2026 AFFO of $6.085 billion to $6.315 billion, while the dividend costs roughly $2.57 billion a year. At the midpoint, AFFO covers the payout about 2.4 times. Measured against trailing EPS of $2.55, the payout ratio is about 82%. Management expects pro-forma leverage of 3.75x debt to EBITDA.
Bull Case Williams raised its 2026 adjusted EBITDA guidance to $8.3 billion to $8.5 billion after agreeing to buy Momentum Midstream for up to $5.5 billion. The deal adds more than 4,000 miles of Haynesville pipe. Management also raised its long-term EBITDA growth target to 11% plus compound annual growth through 2030. On the August call, an executive said: “We do feel well-positioned to exceed 11%.” Phase one of its Socrates power project began delivering 200 megawatts to a data-center customer, and management calls the years ahead “the decade of pipe and power.” Analysts are bullish: 22 of 24 rate it a buy or strong buy, with a consensus target of $85.46.
Risk to Weigh Growth is expensive. Williams plans $7.3 billion to $7.9 billion of 2026 growth capex. Second-quarter capex of $1.834 billion was higher than operating cash flow of $1.376 billion. The Momentum deal also includes $2 billion of equity, which adds shares. At a forward P/E of 27, it is the most highly valued stock on this list.
Kinder Morgan: Highest Yield on the List, Backed by Free Cash Flow Kinder Morgan (NYSE:KMI) pays $1.19 a year on an annualized basis. At $30.42, the forward yield is about 3.91%, the highest of these five. Shares fell 5.23% over the past month. CNBC’s Jim Cramer supported the stock in his Sept. 30 lightning round.
Dividend Safety Check Second-quarter free cash flow was $978 million, compared with a quarterly dividend spending of roughly $662 million. That covers the payout about 1.48 times. Net debt was 3.6x adjusted EBITDA, the low end of the company’s target range, and Moody’s upgraded Kinder Morgan to Baa1 earlier this year. Against the 2026 budget of $1.36 in adjusted EPS, the payout ratio is 87.5%. Management expects to beat that EPS budget by more than 12%. The dividend has gone up in every year from 2021 through 2026, most recently to $0.2975 per quarter.
Bull Case Natural gas transport volumes rose 7% year over year. Kinder Morgan’s project backlog stands at $9.6 billion, with 92% in natural gas and more than 60% tied to power generation and local distribution demand. Second-quarter adjusted EPS of $0.37 beat the $0.3128 estimate, and adjusted EBITDA grew 12% to $2.20 billion.
Risk to Weigh Kinder Morgan has cut its dividend before. The quarterly payout dropped from $0.51 in late 2015 to $0.125 in 2016. Recent raises have been small: the latest increase was 2%. Refined products volumes also fell 5%, and crude and condensate volumes fell 16%.
Duke Energy: Carolinas Utility Near Its 52-Week Low Duke Energy (NYSE:DUK) pays an annualized $4.34 per share. At $113.49, the forward yield is about 3.82%. The stock trades close to its 52-week low of $110.99, well under the $136.11 analyst target.
Dividend Safety Check The quarterly dividend rose to $1.085 from $1.065 in August, and Duke’s records show regular quarterly payments going back to 1999. The payout is about 65% of trailing diluted EPS of $6.64, the most comfortable coverage of the three utilities here. Like most regulated utilities, Duke spends more on its grid than it generates in cash, so earnings coverage and access to capital matter more than free cash flow. Duke closed $5.3 billion of strategic transactions in the first quarter, which strengthened its funding position.
Bull Case Duke reaffirmed 2026 adjusted EPS guidance of $6.55 to $6.80 and targets 5% to 7% annual adjusted EPS growth through 2030. It has signed 7.6 GW of economic-development projects under electric service agreements, and retail electric customers grew 1.4%. Second-quarter adjusted EPS of $1.43 beat the $1.3062 estimate. At a forward P/E of 16, Duke is the cheapest utility on this list.
Risk to Weigh Interest expense and depreciation are rising as the asset base grows. Coal-ash remediation costs remain uncertain, and data-center load could come in below expectations.
Southern Company: Data Centers Are Lifting Commercial Power Sales Southern Company (NYSE:SO) pays an annualized $3.04 per share. At $83.20, the forward yield is about 3.65%. Shares are down 9.34% over the past year and sit close to the 52-week low of $81.69.
Dividend Safety Check Southern raised its quarterly dividend in every year from 2021 through 2026, from $0.64 to the current $0.76. The payout is about 73% of trailing EPS of $4.15, which is normal for a regulated utility. Earnings power is growing: second-quarter GAAP net income rose 33.41% to $1.174 billion.
Bull Case Commercial electricity sales rose 7.3% on data-center demand, and wholesale sales climbed 9.2%. Adjusted EPS of $1.13 beat the $1.00 estimate. With Vogtle fully in service, Georgia Power has a larger rate base to earn on. The forward P/E of 17 is below the trailing figure of 20, which means analysts expect earnings to grow.
Risk to Weigh First-quarter interest expense reached $778 million, up from $714 million, and Southern Power expects about $205 million in remaining pre-tax repowering charges in 2026. Analysts are cautious too: 13 rate the stock a hold and 3 rate it a sell or strong sell.
OGE Energy: Ex-Dividend Date Is Days Away OGE Energy (NYSE:OGE) pays an annualized $1.715 per share. At $45.67, the forward yield is about 3.76%. Its newly raised $0.42875 quarterly dividend goes ex-dividend on Oct. 5 and will be paid on Oct. 30.
Dividend Safety Check OGE’s records show a dividend increase every year since 2015, when the quarterly payout was $0.25. The annualized dividend equals about 71% of 2026 EPS guidance of $2.43. On the July call, CFO Chuck Walworth said: “We have completed all planned financing activities for 2026 and continue to target credit-supportive metrics including maintaining FFO to debt of approximately 17% over the planning horizon.”
Bull Case OGE set a new all-time peak load of more than 6,800 megawatts. It filed a Google special contract in Oklahoma on May 1 and has six or seven large-load negotiations underway. Its proposed large-load tariff requires data centers to pay 100% of their grid connection costs upfront and sign a minimum 15-year commitment, which protects existing ratepayers. OGE expects to add 550 megawatts of capacity in 2026.
Risk to Weigh Dividend growth has nearly stalled. The latest raise was about 0.88%. Weather also affects results: first-quarter net income fell 19.94% after a mild winter. With a market cap of $9.43 billion, OGE is also much smaller and less diversified than Duke or Southern.
Five Payouts Funded by America’s Growing Power Demand The jump in Treasury yields to 5.29% drove these five stocks lower, while the contracts and rate bases that pay their dividends stayed intact. Williams and Kinder Morgan move the natural gas that LNG terminals and new power plants need. Duke, Southern, and OGE sell the electricity that data centers and new factories use. Kinder Morgan’s free cash flow coverage and Duke’s 65% payout ratio stand out as the strongest dividend protection in the group, while Williams offers the fastest growth behind its payout.
The data-center power build is the thread tying these five payouts together, and the chip names are only part of that trade. We featured seven suppliers on the power, cooling, and networking side of the AI expansion in a free report you can download here: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers).
Contact [email protected] for any questions or corrections.
Nike klesá o 8 % po zklamání z tržeb, slabém výhledu a oznámení propouštění. Tržby za fiskální 1. čtvrtletí 2027 činily 11,21 mld. USD, pod odhadem 11,32 mld. USD.
Nike is cratering on earnings while rivals Lululemon and On Holding barely flinch, raising a pointed question about whether the sportswear giant is fighting a problem unique to itself or simply the first to feel an industry-wide reckoning.
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Nike (NYSE:NKE | NKE Price Prediction) is taking a company-specific hit to its turnaround story, while the rest of athletic apparel holds largely steady. Shares of Nike are down 8% to $32.34 in morning trading after fiscal 2027 first-quarter results showed a revenue miss, a weak outlook and job cuts. Nike stock was already trading near its 52-week low.
Meanwhile, shares of Lululemon (NASDAQ:LULU) are nearly unchanged at $95.85. On Holding (NYSE:ONON) stock trades at $30.18, also practically unchanged and showing no signs of contagion.
The Consumer Discretionary Select Sector SPDR ETF (NYSEARCA:XLY) is unchanged at $108.81, showing the damage is confined to Nike. The SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) is up 1% to $771.34, so the broad equities market is holding up well.
Nike carries a weight of just 1.2% in the XLY sector fund, so the drop barely moves it.
Revenue Miss and Job Cuts Drive Nike Lower Nike’s quarterly revenue came in at $11.21 billion, missing the $11.32 billion consensus and falling 4.3% year over year. Diluted earnings came in at $0.48 per share, ahead of expectations, on a wider gross margin.
The heavier blow came from Nike’s fiscal 2027 outlook, which calls for revenue to decline by a high-single-digit percentage.
Nike also unveiled Pace, an overhaul targeting $2.5 billion in cumulative savings through fiscal 2031 at a cost of $1 billion in pre-tax charges, mostly employee-related. Chief Executive Officer Elliott Hill wrote in a letter to employees: “This work will result in fewer roles across Nike, and I want to acknowledge that news like this creates uncertainty. I don’t take that lightly.” Decisions on affected roles are expected to begin next calendar year and beyond.
Lululemon and On Holding Hold Their Ground Lululemon stock is down 54% year to date, a slide that deepened after the company cut its full-year guidance in September. During the earnings call, Lululemon executives traced the company’s weakness to brand sentiment and traffic, stating, “We’re not pointing to macro specifically as a key issue.” That framing helps explain why Nike’s warning leaves Lululemon steady.
On Holding stock is down 35% year to date, yet its recent results look far healthier than Nike’s. Net sales rose 13.5% in the latest quarter, while gross margin expanded to 65.4%, moving management to lift its full-year floor to at least 65%. That momentum gives it little reason to track Nike lower.
Dick’s Sporting Goods (NYSE:DKS) offers a retail-channel read. In August, the retailer’s chief executive cited “growing pressure across portions of the athletic footwear and apparel marketplace,” while Dick’s executives described running and performance product as healthy. Nike’s call reflected that split, with its performance business growing at a high-single-digit pace as Nike Sportswear declined by a low-double-digit percentage.
Nike’s Investor Day Shapes the Next Move Nike stock is now down 48% year to date. Hill stated that Nike has “more work to do in NIKE Sportswear, Jordan Brand and Greater China,” and management expects pressure there could remain into fiscal 2028. More detail on Pace and longer-term targets is due at its investor day in November.
Nike still has supports, including its performance business, wider gross margin and quarterly dividend of $0.41 per share, though the dividend offers limited buffer in a multiyear turnaround. Investors should size holdings carefully given falling revenue guidance and Pace savings that mostly arrive in fiscal 2029 and 2030.
Lululemon shareholders should weigh the company’s lowered full-year outlook, which calls for revenue to fall 5% to 7%. On Holding looks stronger, though Section 301 tariffs imposed in July could lift costs, so stakes there may warrant moderation. Dick’s remains a useful channel check on how quickly Nike’s lifestyle inventory sells.
Contact [email protected] for any questions or corrections.
Amphenol ve 2. čtvrtletí zvýšil tržby divize Communications Solutions o 85 % na 5,38 miliardy USD; tato divize táhne růst díky poptávce po AI infrastruktuře. Pro 3. čtvrtletí čeká další středně desítkový mezikvartální růst.
Key Takeaways Amphenol's Communications Solutions revenues surged 85% year over year to $5.38 billion.AI-related products drove virtually all sequential IT datacom growth, with Q3 gains expected.CommScope is now expected to generate $4.6 billion in 2026 sales, up from $4.1 billion. Amphenol (APH - Free Report) is benefiting from robust growth in its Communications Solutions segment, supported by accelerating demand for high-speed interconnect products used in AI infrastructure and contributions from its acquisition program. In the second quarter of 2026, Communications Solutions revenues surged 85% year over year to $5.38 billion and increased 42% organically. The segment accounted for roughly 62% of Amphenol’s total revenues, making it the company’s largest growth engine. The year-over-year growth was primarily driven by outsized IT datacom growth, particularly AI-related applications, alongside strength in industrial, mobile devices and automotive markets.
AI infrastructure remains the biggest growth engine and is helping the company fight off competition from the likes of TE Connectivity (TEL - Free Report) and Bel Fuse (BELFB - Free Report) . IT datacom represented 43% of Amphenol’s second-quarter sales, with revenues rising 89% year over year and 63% organically. Sequentially, IT datacom revenues climbed 22%, with virtually all of the sequential growth stemming from AI-related products. APH expects another mid-teens sequential increase in the third quarter of 2026, supported by accelerating investments in AI data centers and stronger enterprise and cloud demand for traditional IT datacom equipment.
Amphenol’s broad portfolio across high-speed copper, fiber-optic and power interconnects is strengthening its exposure to the AI buildout. The company noted that customers increasingly require all three technologies as computing architectures become denser and more power-intensive. The CommScope acquisition is further strengthening Communications Solutions, particularly in optical interconnects. CommScope generated slightly more than $1.2 billion in second-quarter sales, while its IT datacom business nearly doubled year over year. Amphenol now expects CommScope to generate $4.6 billion of sales in 2026, up from its earlier expectation of $4.1 billion.
Higher Communications Solutions revenues are also supporting profitability. Segment operating margin expanded to 33.6% in the second quarter of 2026 from 30.6% a year earlier, benefiting primarily from operating leverage on significantly higher organic volumes. This combination of accelerating AI connectivity demand, rising optical exposure through CommScope and strength across several other end markets should continue to support Communications Solutions as an important growth driver for Amphenol.
For the third quarter of 2026, APH expects sales of $9.3-$9.4 billion. The range implies year-over-year growth of 50-52%, assuming current market conditions and constant exchange rates. Adjusted earnings are projected between $1.40 and $1.42 per share, indicating growth of 51-53% from the prior-year quarter.
How Rivals Stack Up Against APHTE Connectivity is challenging Amphenol across high-speed data and power connectivity by expanding its exposure to AI infrastructure. TEL’s Digital Data Networks (DDN) business is benefiting from hyperscaler investments in GPU clusters, with year-to-date DDN orders up more than 70%. In the third quarter of fiscal 2026, DDN sales increased 34% year over year, supported by demand for high-speed copper connectivity, while higher-voltage architectures are expanding opportunities in power connectivity. TE Connectivity estimates that power already represents roughly one-third of its DDN business, giving it exposure to both data transmission and rising power requirements inside AI racks.
Bel Fuse is a smaller but growing challenger. The company’s Industrial Technology & Data Solutions (ITDS) segment includes power supplies, fuses, integrated connector modules and transformers used in networking, data centers and AI applications. In the second quarter of 2026, ITDS revenues jumped 31.1% year over year to $100.2 million, while Data Solutions revenues surged 55%, aided by the beginning of a ramp tied to high-performance computing project wins. The dataMate acquisition also expanded Bel Fuse’s Data Solutions portfolio.
APH’s Share Price Performance, Valuation & EstimatesAmphenol’s shares have surged 24.8% year to date, outperforming the broader Zacks Computer & Technology sector’s return of 21.8%.
APH Stock’s Price Performance
Image Source: Zacks Investment Research
Amphenol shares are trading at a premium, as suggested by a Value Score of D. In terms of the forward 12-month price-to-earnings (P/E), APH is trading at 27.47X, higher than the broader sector’s 19.95X.
APH Stock is Overvalued
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Amphenol’s 2026 earnings is pegged at $2.66 per share, up three cents over the past 30 days. The figure indicates a 59.3% jump year over year.
APH currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Paychex beat earnings estimates for the fourth straight quarter, then watched its stock crater anyway as investors zeroed in on a single line item that raised uncomfortable questions about what it actually costs to keep shareholders happy.
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Paychex (NASDAQ: PAYX | PAYX Price Prediction) beat on the top and bottom lines on Wednesday, Sept. 23, but the stock had its worst session in more than a year. Shares fell 7.18% intraday to $106.31, and investors are focused less on the beat and more on the check that got written to shareholders.
More than a week later, that loss has increased to 5%, dragging the stock’s year-to-date loss down to 7.71%, and its one-year loss to nearly 21%. Why? Paychex sent $424.1 million out the door in dividends against $429.7 million of net income. That is almost the entire quarter.
A Beat With a Very Expensive Payout Adjusted EPS came in at $1.34 versus $1.32 consensus, the fourth consecutive quarter of beating EPS estimates. Revenue of $1.63 billion grew 5.9% year over year. GAAP operating margin expanded to 38.0% from 35.2% as Paycor integration costs faded.
PEO and Insurance Solutions was the standout, up 12% on strong worksite employee growth. Management raised full-year PEO growth guidance to 7% to 8% and interest on client funds to $200 million to $210 million.
Cash Line That Spooked Investors Operating cash flow was $413.5 million, down 42.44% year over year, which management attributed to the timing of client and corporate tax payments. Cash and equivalents fell to $600.9 million, down 25.7% year over year. Cash used in financing was $906.6 million. Fair caveat: fiscal Q1 is Paychex’s seasonally lightest quarter, and float-driven working capital swings are normal at a payroll processor. You’ll want to see full-year coverage in the 10-Q before drawing hard conclusions about sustainability.
Key Figures Adjusted EPS: $1.34 vs. $1.32 expected Revenue: $1.63 billion, up 5.9% Operating margin (GAAP): 38%, up from 35.2% Net income: $429.7 million, up 11.96% Operating cash flow: $413.5 million, down 42.44% Dividends paid: $1.19 per share, $424.1 million total The dividend was raised roughly 10% to $1.19 earlier this year. The stock’s forward yield sits above 4%. That is the number income investors are buying (the whole point of a dividend ladder is never having to sell a share to pay the bills, and we walked through how to build one in a free guide here).
Gibson Points to AI and Advisory CEO John Gibson said Paychex “delivered a solid start to total revenue growth in fiscal 2027, with double-digit PEO and Insurance Solutions revenue and EPS growth underscoring the strength of our advisory solutions.” On AI, he pointed to “compelling early adopter results from our award-winning WISE engine and the introduction of WISE Hire, our agentic recruiting solution.” CFO Bob Schrader added, “This quarter we returned $424 million to shareholders through cash dividends.”
What Income Investors Should Watch Next Full-year adjusted EPS growth guidance held at 7% to 9%, so the annual math still works on paper. I’d keep an eye on Q2 revenue growth, which management pegged at approximately 4% against a tough compare, and on operating cash flow trends once the 10-Q lands. Jim Cramer previewed the quarter saying Paychex had a “full head of steam.” PAYX’s performance over the past week disagrees.
Contact [email protected] for any questions or corrections.
Exelon čeká na rozhodnutí regulátora k plánu ComEd za 15,3 miliardy USD do 15. prosince; zamítnutí by mohlo zpomalit růst dividendy nebo přinutit k vydání nových akcií.
Exelon's dividend yield has climbed to its most attractive level in years, but a single regulatory decision this December could determine whether that income stream grows, stalls, or forces a flood of new stock onto the market.
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Exelon (NASDAQ:EXC | EXC Price Prediction) trades at $40.35. That is down 6.82% over the past month and 7.05% over the past year, and the slide has raised the dividend yield to 4.07%. When a yield rises because the price fell, income investors need to know what pays the $1.68 forward annual dividend.
A Wires-Only Business Paid by Regulators Exelon is a pure regulated wires company. It runs six regulated transmission and distribution utilities: ComEd, PECO, BGE, and PHI’s Pepco, Delmarva Power and Atlantic City Electric. Regulators approve a “rate base” (the value of poles, wires, and substations) and allow a set return on it. When Exelon builds more grid and wins approval, earnings grow. Fuel prices and recessions matter far less than for most companies, so cash flow is unusually predictable.
In 2025, Exelon earned a 9.7% operating ROE, and it targets 9-10%. Its rate base is expected to grow from $64.6B in 2025 to $87.4B in 2029, a 7.9% CAGR. That growth supports guidance for 5% to 7% annual EPS growth through 2029.
Coverage Sits Right on Target Trailing dividends of $1.64 against EPS of $2.74 yield a payout ratio of about 60%. The forward dividend uses about 59% of the midpoint of 2026 guidance, which is $2.81-$2.91.
Company Yield Trailing Payout Forward P/E Exelon 4.07% 60% 14 Duke Energy (NYSE:DUK) 3.73% 64% 16 Southern Company (NYSE:SO) 3.57% 72% 17 Exelon offers the highest yield and lowest payout ratio of the three, trading at the cheapest multiple. Its track record is shorter. The quarterly dividend fell from $0.3825 in 2021 to $0.3375 in 2022 after the generation spinoff, then rose to $0.36, $0.38, $0.40 and $0.42. Management guides for about 5% annual dividend growth.
Borrowed Money Fills the Capex Gap In 2025, operating cash flow of $6.25B covered dividends of $1.62B about four times over but fell short of capex of $8.53B. Financing brought in $2.53B. Interest expense grew from $1.73B in 2023 to $2.13B in 2025. Exelon needs $3.4B of equity through 2029, with ~37% already priced. Management said in July:
“Maintaining a strong balance sheet is core to our strategy and essential to funding the investments needed to deliver safe, reliable, and affordable service for our customers.”
State Regulators Hold the Key Credit pressure is showing. Moody’s placed PECO under review for downgrade, and S&P downgraded BGE. Exelon dropped a Pennsylvania rate case. ComEd’s $15.3 billion grid plan faces an order by December 15th.
“If critical work is deferred for too long, customers ultimately pay the price through more outages, more costly repairs, and higher long-term costs.”
Data center demand gives Exelon room to grow. After speculative projects were removed, the pipeline fell to 36 gigawatts from 43. Signed agreements cover four gigawatts, backed by a billion dollars of collateral. Management added: “We have not put in speculative projects.”
One Scenario Puts the Payout at Risk The dividend is durable. Regulated rate base growth pays for it, and the payout ratio is at target. The danger is a holding-company downgrade if Illinois or Pennsylvania regulators deny cost recovery, earned ROE falls below 9%, and interest costs keep rising. Exelon targets credit metrics of about 14%, leaving 100-200 bps of room above downgrade levels. If that buffer goes away, Exelon would slow dividend growth or issue much more stock. The ComEd order on December 15 is the first test.
Contact [email protected] for any questions or corrections.
Quant Network uvedl QNT na Solanu přes Sunrise a Raydium, čímž rozšířil token z původního nasazení na síti Ethereum jako ERC-20. QNT je nyní na Solaně dostupný ke spotovému obchodování.
Quant Network, a leading enterprise blockchain company and the developer of the Overledger platform, has introduced its QNT token on the Solana blockchain. This launch marks a significant cross-chain expansion, positioning QNT within one of the most active layer-1 ecosystems in the crypto space.
QNT debuts on Solana through Sunrise and RaydiumThe integration is powered by Sunrise, an interoperability provider focused on facilitating asset transfers between blockchains. As part of the launch, QNT can now be traded on Solana’s leading decentralized exchange, Raydium, giving users access to high-speed trading and low fees offered by the Solana network. The move extends QNT beyond its original Ethereum ERC-20 deployment, where liquidity has so far been concentrated among centralized pools.
Raydium is known as an automated market maker and liquidity provider within the Solana ecosystem, allowing tokens to be traded with minimal slippage and near-instant settlement.
Mini dictionary: Raydium is a decentralized exchange on Solana, offering automated liquidity for token trading with a focus on speed and efficiency compared to traditional blockchain DEXs.
In a post on X, Sunrise confirmed the availability of QNT for spot trading on Raydium, highlighting the ease with which holders can now access the Solana ecosystem. Solana’s high-throughput design and low transaction costs make it attractive for both token holders and developers interested in experimenting with multi-chain strategies.
Institutional momentum and the role of The Clearing HouseQuant’s expansion onto Solana comes at a time when the company has gained traction in traditional finance circles. On September 24, 2026, The Clearing House, a central operator of US payment infrastructure including CHIPS and RTP, entered into a partnership with Quant to explore the use of tokenized commercial bank money via their On-Chain Money Initiative.
The Clearing House is responsible for facilitating payment systems that process trillions of dollars annually, making its alliances crucial for the ongoing convergence between traditional finance and digital assets. This collaboration aims to develop regulatory-compliant settlement methods for tokenized bank deposits in the US.
Although the On-Chain Money Initiative is unrelated to Solana specifically, Quant’s dual effort in institutional and public blockchain integration illustrates the company’s two-pronged approach. Details about participating banks, the value of contracts involved, and the potential impact on QNT demand remain undisclosed. The initiative is scheduled to conclude by 2027, with further updates expected as development progresses.
Trading opportunities and ecosystem impactIn late September, Solana DEX volumes reached over $2 billion per day, according to DeFiLlama, making it a prime venue for active trading. The launch opens doors for QNT holders to new trading routes, especially between Ethereum and Solana, potentially presenting arbitrage opportunities for traders and multichain flexibility for institutions managing regulated digital assets custody.
For Solana, the addition of QNT as an enterprise-linked asset introduces a novel dimension to its network, which has been widely associated with retail activity and memecoin interest. It highlights an industry trend towards integrating regulated institutions with permissionless blockchain technology.
“Bridge exploits cost the crypto industry more than $2.8 billion last cycle, underlining the importance of robust security and interoperability as more assets cross between networks,” Sunrise stated.
With QNT opening above $400 before retreating to $250 in late September, price action around the launch reflected heightened attention and a surge in market activity. Strategic focus now shifts to how Raydium’s liquidity, bulk orders via Jupiter, and ongoing collaborations such as Exinity’s with Binance will influence the Solana-based QNT market.
As the technical framework for the institutional side emerges over the coming months, developers and investors alike are watching how QNT’s growing multi-chain strategy might shape its relevance within the broader industry.
Rapid7 spustila Rapid7 Intelligence, jednotný AI engine pro přechod od reaktivního monitoringu k proaktivní prevenci útoků. Firma zároveň uvedla, že její výzkumníci odhalili modulární linuxový malware mířící na telekomunikační a síťová edge zařízení.
BOSTON, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Today, Rapid7, Inc. (NASDAQ: RPD), a global leader in AI-powered managed cybersecurity operations, announced the launch of Rapid7 Intelligence, a unified engine designed to transform enterprise threat defenses from reactive monitoring to proactive prevention. By combining threat intelligence, vulnerability research, and the legacy of Rapid7 Labs, Rapid7 Intelligence transforms insights on attacker behavior into AI-powered action to help organizations anticipate and disrupt attacks.
Indicators Expire. Behavior Doesn't: Defense for the Agentic Era.
Building on Rapid7 Labs’ 13-year legacy, Rapid7 Intelligence turns attacker behavior into scalable protection faster than traditional vendors reliant on static indicators. With AI compressing exploitation windows to minutes—and 8,539 critical vulnerabilities tracked in Q2 alone—attackers are leveraging automation to scale phishing, reconnaissance, and script development. Rapid7 Intelligence monitors these threats in real time to deliver actionable, expert-validated insights that keep defenders ahead.
"Static threat intelligence isn't completely dead—it's just sitting in standard dashboards doing what it's always done, giving organizations a false sense of security while autonomous threat agents burn down their perimeters," said Christiaan Beek, Vice President of Rapid7 Intelligence. "The real differentiator isn't hoarding more raw feeds; it's having curated, vetted intelligence focused relentlessly on true signals rather than waiting around for alerts to trigger after the damage is done. Rapid7 Intelligence isn't built to generate another 50-page PDF report for security teams to ignore; it aggressively converts real-time operational adversary insight into a proactive, preemptive shield."
Rapid7 Intelligence in Action: Behavioral Correlation Exposes a Hidden Linux Malware Ecosystem
A concrete illustration of Rapid7 Intelligence's power is a new finding from Rapid7 researchers, who uncovered a modular Linux malware ecosystem—spanning new BPFDoor variants, BPF Rekoobe, droppers, and AVERAT implants—actively targeting telecom and network-edge devices.
Researchers identified two campaigns linked by a common focus on the network edge. Rapid7 Intelligence analyzed their shared behaviors, uncovering an emerging pattern: using SMTP to blend into the victim’s DMZ, target mail security appliances, and maintain long-term access.
New BPFDoor variants indicate the malware family is evolving into an ecosystem where each sample is tailored to the telco plane (control, management, and data plane) it targets, and where threat actors know exactly what software is adopted at each layer.
Rapid7 Intelligence will continue tracking and disrupting tactics like this to keep defenders ahead of attackers.
Expert-Led, Actionable Intelligence
To continuously power research like this and help defenders stay ahead of emerging threats, Rapid7 Intelligence delivers:
Immediate Protective Force: Frontline intelligence bypasses legacy research lags, flowing directly into Rapid7 products, MDR, and Exposure Management to neutralize adversary infrastructure before attacks execute.Unified Intelligence Engine: Threat intelligence, vulnerability analysis, and engineering inside the products customers already run, instead of a report they have to translate into action themselves.Uncompromised Community Arsenal: Building on the legendary foundation of Metasploit and Rapid7 Labs, critical advisories, vulnerability research and exploitation insights remain open, ensuring the industry stays capable of pushing back.
“In a world of infinite telemetry and automated attacks, playing defense with traditional tools is an exercise in futility,” said Mel Stone, Chief Global Services Officer at Rapid7. “Rapid7 Intelligence shifts the balance of power. By fusing machine-scale observation with frontline human expertise, we turn raw threat data into immediate, actionable intelligence—empowering security teams to disrupt adversaries before they establish a foothold.”
To learn more about Rapid7 Intelligence, visit here.
About Rapid7
Rapid7, Inc. (NASDAQ: RPD) is a global leader in AI-powered managed cybersecurity operations, trusted to advance organizations’ cyber resilience. Open and extensible, the Rapid7 Command Platform integrates security data, enriching it with AI, threat intelligence, and 25 years of expertise and innovation to reduce risk and disrupt attackers. As a recognized leader in preemptive managed detection and response (MDR), Rapid7 unifies exposure and detection to transform the cybersecurity operations of more than 11,500 customers worldwide. For more information, visit our website, check out our blog, or follow us on LinkedIn or X.
Media Contact
Christine Nurnberger
SVP Global Marketing and Growth [email protected]
Rapid7 Investor Contact
Christopher Keenan
Vice President, Deputy General Counsel [email protected]
Cardano Foundation oznámila partnerství se společností Pacific Meta, které má urychlit firemní adopci blockchainu v Japonsku. ADA se zároveň drží nad 0,254 USD a denní aktivní adresy vyskočily za týden z 15 588 na více než 27 500.
Key Highlights ADA maintains trading levels above $0.254, securing its position over the 200-day EMA at $0.240. A strategic partnership between Cardano Foundation and Pacific Meta aims to accelerate blockchain adoption across Japanese enterprises. Network engagement surged dramatically, with daily active addresses climbing from 15,588 to more than 27,500 within seven days. Positive funding rates emerge, while futures market data reveals potential overheating and cautious bearish sentiment. Market analyst Crypto Patel forecasts potential price objectives of $1, $3, and $5 contingent on sustained support levels. Cardano’s price action on Friday shows strength above the $0.254 mark. The cryptocurrency has successfully recovered ground above a critical support threshold following challenging conditions experienced during the earlier months of 2025.
Cardano (ADA) Price The resurgence in market attention stems partly from a significant corporate development. On Thursday, the Cardano Foundation unveiled a strategic collaboration with Pacific Meta.
Cardano is deepening its enterprise presence in Japan. 🇯🇵
We’re partnering with @PacificMeta to combine Cardano infrastructure with local market expertise and enterprise integration, helping Japanese companies bring real-world blockchain use cases to life.
Less talk about… pic.twitter.com/mEypDVTHx3
— Cardano Foundation (@Cardano_CF) October 1, 2026
This alliance focuses on accelerating enterprise-level blockchain integration throughout Japan. The Cardano Foundation outlined its objectives through an official statement on X.
“Through our collaboration with Pacific Meta, we’re merging Cardano’s robust infrastructure with specialized local market knowledge and enterprise-grade integration capabilities, enabling Japanese corporations to implement practical blockchain applications,” the Foundation stated.
Network Engagement Shows Strong Growth The metric of daily active addresses provides insight into actual blockchain utilization. Cardano’s figures in this category demonstrate notable expansion.
Data from Santiment indicates daily active addresses reached 27,548 on Thursday. This represents a significant increase from the 15,588 recorded one week prior. Friday’s figures maintained levels close to 26,800.
An increase in active addresses typically indicates expanding network utilization. This metric is commonly interpreted as a favorable indicator for token valuation prospects.
Funding rates have also shifted into positive territory this week, registering 0.0037% on Friday. This indicates that traders holding long positions are compensating short position holders, reflecting optimistic market sentiment.
However, not all indicators suggest upward momentum. Analysis from CryptoQuant reveals substantial whale activity within ADA’s futures markets, though with predominant selling pressure. Spot market conditions also display characteristics of overextension, suggesting traders should exercise prudence.
Technical Analysts Outline Ambitious Price Objectives Cryptocurrency analyst Sssebi posted technical analysis on X highlighting ADA’s consolidation pattern above a previously breached resistance zone. “This pattern typically demonstrates strong bullish characteristics and could lead to a significant upward movement,” Sssebi noted, suggesting the next leg could drive ADA beyond $0.30.
$ADA keeps consolidating above the resistance area it broke out of and is now using it as support.
This is usually very bullish and we could see a nice pump from here.
Hopefully the next move is above $0.30 pic.twitter.com/H5z5qygxBP
— Sssebi🦁 (@Sssebi) October 2, 2026
Meanwhile, analyst Crypto Patel presented an extended outlook for ADA through X. Patel characterizes ADA as currently residing in an accumulation phase, citing three technical indicators: sustained weekly support levels, preservation of the Fibonacci “golden pocket” zone, and successful reclamation of the $0.235 threshold.
Everyone Sold $ADA At -94%. Smart Money Bought It.
The Weekly Order Block Is Defended, The Golden Pocket Held, And $0.235 Is Reclaimed. The Same Demand Zone Sat Under The 2021 Run.
“The weekly order block remains defended, the golden pocket zone held firm, and the $0.235 level has been reclaimed,” Patel explained.
Patel’s technical analysis identifies a support corridor spanning $0.14 to $0.20, which the analyst designates as a “bullish order block.” Historical data within the chart demonstrates ADA previously rallied over 87% after rebounding from this identical zone during the June through September timeframe.
The analyst’s price objectives include $1, $3, and $5 levels. Achieving the $1 milestone would represent approximately a 292% appreciation from present values. The chart additionally features an extended projection approaching $10, though this extends beyond Patel’s primary targets.
Patel identified a critical invalidation threshold: any weekly close beneath $0.137 would nullify the bullish scenario.
From a technical perspective, Cardano maintains its position above the 50-day EMA at $0.220, the 100-day EMA at $0.212, and the 200-day EMA at $0.240. The Relative Strength Index registers approximately 63, positioned slightly above neutral range.
Near-term support is established at $0.245 and the 200-day EMA at $0.240. The subsequent resistance barrier stands at $0.299, where a daily close above this threshold would be necessary to sustain the ongoing recovery trajectory.
Teradyne ve 2. čtvrtletí 2026 zvýšil tržby z testování pamětí na rekordních 212 mil. USD, už třetí čtvrtletí po sobě nad 200 mil. USD. Firma navíc uvedla Magnum E2 pro LPDDR6, DDR6, GDDR7 a NAND.
Key Takeaways Teradyne's memory revenues hit a record $212M in Q2 2026, its third straight quarter above $200M. Magnum E2 supports LPDDR6, DDR6, GDDR7 and NAND, combining memory and logic testing on one platform. TER expects the 2026 memory test TAM to be more than 40% larger than 2025 due to HBM, DRAM and NAND growth. Teradyne (TER - Free Report) is benefiting from rising demand for advanced memory testing, supported by strong high-bandwidth memory (HBM), DRAM, and NAND requirements tied to artificial intelligence (AI) infrastructure. The company’s expanding memory test portfolio, led by Magnum platforms, strengthens its competitive positioning in the broader semiconductor test-equipment market against KLA (KLAC - Free Report) and Cohu (COHU - Free Report) . Teradyne noted that Magnum testers combine memory and logic-test capabilities, providing memory manufacturers with attractive swing-tool flexibility.
Memory has emerged as an important growth engine for Teradyne. In the second quarter of 2026, memory revenues reached a record $212 million, marking the third consecutive quarter above $200 million. Growth was driven by robust demand for HBM and DRAM test solutions, as well as a recovery in NAND. Memory book-to-bill exceeded 2, indicating solid demand visibility. Management expects the 2026 memory test TAM to be more than 40% higher than 2025, supported by HBM, DRAM and NAND growth.
Further expanding its memory test portfolio, Teradyne recently launched Magnum E2, a next-generation high-speed memory test system designed to address growing test requirements driven by artificial intelligence and high-performance computing. Built on the company’s Near-DUT Test architecture, Magnum E2 supports advanced DRAM and flash interfaces, including LPDDR6, DDR6, GDDR7 and NAND flash. The platform offers higher parallelism, improved signal integrity and support for NRZ, PAM3 and PAM4 signaling. It also combines memory and logic testing on a single platform, helping manufacturers simplify testing while supporting qualification through high-volume production.
Rising memory bit production and technology transitions such as HBM3 to HBM4, DDR5 to DDR6 and next-generation flash should further increase test requirements, supporting Teradyne’s ability to expand its memory-testing footprint. Management expects memory revenues to grow in the second half compared to the first half.
How Competitors Fare Against TERTeradyne is facing stiff competition from companies such as KLA and Cohu. Both companies are expanding their footprint in the semiconductor industry.
KLA is benefiting from strong semiconductor demand, driven by accelerating investments in AI infrastructure, leading-edge foundry/logic, memory and advanced packaging. In the fourth quarter of fiscal 2026, revenues reached a record $3.66 billion, increasing 15% year over year and 7% sequentially. Management attributed the performance to rising AI infrastructure investments and greater process-control intensity across memory and advanced packaging.
Cohu’s improving semiconductor test demand and expanding exposure to AI computing, HBM inspection and software remain noteworthy. Growth in AI workloads is driving demand for HBM, and Cohu has established a position in this market through its Neon inspection platform. Cohu is extending its Neon inspection platform across HBM3, HBM4 and HBM4E production while investing in HBM5 and later generations.
TER’s Share Price Performance, Valuation and EstimatesTeradyne shares have surged 114.8% year to date, outperforming the Zacks Computer & Technology sector’s 22.4% growth and the Zacks Electronics - Miscellaneous Products increase of 43%.
TER Stock Performance
Image Source: Zacks Investment Research
TER stock is trading at a premium with a forward 12-month Price/Sales of 11.18X compared with the Electronics - Miscellaneous Products industry’s 7.74X. TER has a Value Score of D.
TER Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $9.11 per share, which has been unchanged over the past 30 days. This suggests 130.05% year-over-year growth.
Teradyne currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Integra LifeSciences oznámila získání navrhovaného sedmiletého zajištěného úvěru Term Loan B v objemu 600 milionů USD. Prostředky mají refinancovat stávající dluh a prodloužit splatnosti.
PRINCETON, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today announced the launch of a proposed $600 million seven-year Senior Secured Term Loan B as part of a broader refinancing transaction.
The Company intends to use the net proceeds from the Term Loan B, together with other sources of financing, to refinance certain of its existing indebtedness and pay associated fees and expenses.
“This transaction allows us to refinance our existing debt, extend maturities and maintain financial flexibility. It positions us well as we continue to focus on disciplined capital allocation and deleveraging,” said Lea Knight, Executive Vice President and Chief Financial Officer.
The proposed financing is expected to be completed in conjunction with a refinancing of the Company’s existing capital structure, subject to market and other customary conditions. There can be no assurance as to whether or when the financing will be completed, or as to the final size, terms, or pricing of the transaction.
About Integra LifeSciences
Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed financing transaction, expected use of proceeds, capital structure, liquidity, leverage and financial flexibility. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those described. Integra undertakes no obligation to update any forward-looking statements except as required by law.
Viking Therapeutics po silných výsledcích studie pro lék VK2735 emitovala nové akcie a nyní se obchoduje pod emisní cenou 35 USD. Rozředění sníží zisk na akcii zhruba o 7,2 %.
Viking Therapeutics (VKTX -6.41%) stock soared after the release of excellent top-line results from a maintenance study of its weight-loss drug VK2735, and the company promptly moved to ultimately raise $575 million via a supplementary public offering of common stock ($316.2 million worth at $35) and $258.8 million in convertible senior notes. However, the stock now trades below the $35 price of this latest common equity offering. Is it worth buying?
On balance, the answer is: If you were bullish on the stock before the top-line results came out, it makes sense to buy it now, too.
Image source: Getty Images.
Let's run some simple numbers. At the time of writing, Viking's stock is up only 8.4% from the day before the results announcement. However, the share count before the stock offering was 116.6 million, and the company closed on another 9 million shares. The increase in share count dilutes existing shareholders, and you can pencil in a rough reduction in earnings per share of about 7.2%, or 0.928 of its previous level.
However, the share price rose 8.44%, so earnings per share per dollar invested at the current share price have also changed. You can calculate this by dividing 0.928 by 1.084 (the increased share price), which gives 0.856, a 14.4% reduction.
In plain English, assuming the same earnings, the earnings yield per dollar invested at today's price will be 14.4% lower.
Premium Feature
Moneyball Superscore
69/100
Today's Change
(
-6.41
%) $
-2.09
Current Price
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30.51
So is Viking Therapeutics stock a buy? While the top-line results were excellent, they didn't include the oral pill (which will come in the second part of the trial), but they were good enough to somewhat de-risk maintenance dosing with injectable VK2735. That's a major plus in itself and justifies the de facto 14.4% loss in earnings power per dollar (assuming unchanged earnings) for investors, both before and after the results release and the subsequent common stock offering.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.
Panmure Liberum ponechal u Landsec doporučení koupit a cílovou cenu 710 p po dohodě o koupi nákupního centra Metrocentre za 516 milionů liber v hotovosti. Transakce má být dokončena do konce října, financovaná zhruba 500milionovým navýšením kapitálu a stávajícími úvěrovými zdroji.
Panmure Liberum has maintained its 'buy' rating on Land Securities Group PLC (LSE:LAND), the property investment company, with a target price of 710p, after the company agreed to acquire the Metrocentre shopping centre in Gateshead.
Landsec has exchanged contracts to buy 100% of Metrocentre for £516 million in net cash consideration, funded through a roughly £500 million equity raise and existing debt facilities.
The equity raise will also partly fund a further £100 million acquisition of interests in Landsec's existing retail portfolio.
Metrocentre generates £41 million of in-place net rental income, implying a net initial yield of 7.9%, with Landsec expecting a low double-digit unlevered internal rate of return.
The broker said it saw around 40 basis points of near-term yield upside from efficiencies across Landsec's wider property platform.
Metrocentre ranks among the UK's ten largest shopping centres, spanning 1.86 million square feet of retail space plus a further 200,000 square feet of retail park, with 282 stores and 95% occupancy.
The centre attracts more than 16 million visitors a year and generates around £650 million in annual retail sales, with tenants including Apple, Zara, Marks & Spencer and Primark.
Completion is expected by the end of October, subject to the dissolution of a legacy Intu entity and bondholder consent, with more than 80% of bondholders already indicating support.
Panmure Liberum said the acquisition and equity raise were expected to be broadly neutral to earnings per share for the remainder of the current financial year, before becoming accretive from the 2028 financial year.
The broker said Landsec now had increased visibility on reaching EPRA earnings per share of around 62p by the 2030 financial year.
Brazilian state-run oil company Petrobras (PETR3.SA) said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier.
According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new discovery in block FZA-M-59, where it had already identified hydrocarbons in August.
The oil found in August was of good quality, the firm said
Petrobras CEO Magda Chambriard said last week that drilling of the first well in the region, also known as Foz do Amazonas, was expected to conclude in the coming days
Petrobras recenty announced it will drill three new wells in the area starting in January to determine wether commercial production in the environmentally-sensitive region is viable
Foz do Amazonas shares geological similarities with offshore Guyana, where ExxonMobil (XOM.N) is developing huge fields
Chambriard will hold a press conference later on Friday to detail the oil discovery, according to Petrobras
Applied Digital spustila dalších 75 MW AI infrastruktury v Polaris Forge 1, čímž zvýšila plně provozní kapacitu kampusu na 250 MW. Celý areál má mít po dokončení kapacitu 400 MW.
Completion of three additional 25 MW data halls brings fully operational capacity at Polaris Forge 1 to 250 MW | Source: Applied Digital Corporation
DALLAS, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers engineered to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has achieved Ready for Service for the second phase of Building 2 at its Polaris Forge 1 campus, delivering an additional 75 MW of critical IT load across three 25 MW data halls.
The milestone completes Building 2’s full 150 MW of critical IT load and brings fully operational critical IT load at Polaris Forge 1 to 250 MW. The fully leased AI Factory Campus is contracted to deliver 400 MW of critical IT load at full buildout.
“Bringing another 75 MW of AI infrastructure online at Polaris Forge 1 further demonstrates our ability to turn large-scale power into operational AI infrastructure,” said Wes Cummins, Chairman and Chief Executive Officer of Applied Digital. “Securing power is only the starting point. The real work is designing, building, commissioning, and operating the infrastructure that transforms those megawatts into usable capacity for customers. That is the capability we continue to scale across our platform.”
The latest delivery follows the first 100 MW building at Polaris Forge 1 and the initial 75 MW phase of Building 2. With 250 MW now operational, Polaris Forge 1 reflects Applied Digital’s repeatable approach to developing and operating large-scale infrastructure purpose-built for advanced AI and high-performance computing workloads.
Polaris Forge 1 is located in Ellendale, North Dakota, where Applied Digital has operated since 2021 and built long-standing relationships with local leaders, partners, and community stakeholders. As the campus continues to expand, the Company remains focused on responsible development, local partnership, and creating long-term value in the communities where it builds.
About Applied Digital
Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.
Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; and (v) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.
eToro Group stock price continued its strong sell-off this week, reaching its lowest level since February this year. It has slumped by 40% from its highest point this year, erasing millions of dollars in value. This sell-off may continue as the stock forms an inverted cup-and-handle pattern.
ETOR stock has been in a strong sell-off this year, a trend that continued after it released its earnings report on August 10 this year. Its results showed that its revenue growth slowed because of the crypto winter.
The revenue rose by 9% in the second quarter to $229 million, driven by its equites trading business. Equities now account for 60% of its trading volume and is followed by commodities.
The results also showed that its number of customers rose to 4.28 million, up by 18% from the same period last year. This increase led to an increase in assets under administration, which rose to $19.2 billion from $17.5 billion in Q2’25. Total trades also jumped by over 60% during the quarter.
eToro’s revenue growth is expected to remain under pressure this year because of the recent crypto weakness. Yahoo Finance data estimates that the company’s third-quarter revenue is expected to drop by 5.3% to $203.1 million.
eToro’s earnings per share are also expected to drop from 53 cents in Q3’25 to $0.4 in the last quarter. For the year, analysts expects that its annual revenue is expected to come in at $918 million, up by 5.80% YoY. This revenue growth is expected to be lower than other companies, including Robinhood Markets, which is expected to grow by 17% this year. WeBull’s revenue is also expected to grow by over 40% this year.
Analysts have mixed opinions on eToro stock. In a recent note, Cantor Fitzgerald reiterated its overweight rating, while Mizuho’s Dan Dolev maintained the outperform rating, even when lowering the target from $52 to $43. Canaccord Genuity’s Joseph Vafi also reiterated his buy rating.
One of the main reasons for this is its valuation, which shows that it has a forward price-to-earnings ratio of 10.3, much lower than the S&P 500 estimate of 19.1. Its forward PEG ratio of 0.59 is also lower than other companies.
ETOR stock chart | Source: TradingView
The daily chart shows that the ETOR stock has retreated in the past few months. A closer look shows that it formed an inverted cup-and-handle pattern, which is made up of a horizontal support and a rounded top. It formed the handle section between August 8 and September 3.
The stock has already moved below the lower side of the pattern and is now nearing the key support of $24.80, its lowest point in February. A drop below that level will point to more downside, potentially to $20.
eToro also remains below the 50-day moving average, while the Average Directional Index (ADX) has jumped to 25.56, its highest level since August 26. A rising ADX is usually a sign that the downtrend is gaining momentum.
Toshiba plánuje zdvojnásobit kapacitu výroby HDD, což poslalo akcie Seagate o 10 % níže a Western Digital o 7 % níže v předobchodní fázi. Trh se obává oslabení nabídky a poklesu cen v segmentu diskových jednotek.
A single capacity announcement from Toshiba sent two of this year's hottest storage stocks into freefall while the rest of the memory sector shrugged it off, and the reason behind that split tells you everything about where the HDD trade…
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One capacity announcement from Toshiba is splitting the storage trade in two, hitting the hard disk drive (HDD) makers heavily while the broader memory group barely moves. Seagate Technology Holdings (NASDAQ:STX | STX Price Prediction) stock is down 10% to $849.79 in morning trading, the sharpest decline among the storage names. Meanwhile, Western Digital (NASDAQ:WDC) shares are slipping 7% to $429.45 as the pure-play HDD company takes a similar hit.
The Roundhill Memory ETF (CBOE:DRAM) is up 0.82% to $62.54, even though Seagate and Western Digital sit among its holdings. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is up 1.17% to $750.73, so large-cap technology stocks are trading stronger overall. The Roundhill fund would have dropped alongside the two drive makers in a broad memory selloff, so the damage looks confined to one product line.
Demand from artificial intelligence (AI) data centers turned Seagate and Western Digital into two of the year’s standout technology stocks, and Toshiba wants a bigger share of it. Both Seagate and Western Digital beat earnings estimates in every quarter of fiscal 2026, which puts the focus of the selloff directly on future supply.
Toshiba Plans to Double Its Hard Drive Output Toshiba plans to double its HDD production capacity, with the expansion centered on its manufacturing facility in the Philippines. The Japanese company is aiming the added output at storage demand from AI data centers, the same customers that have fueled surging results at Seagate and Western Digital.
Toshiba, the smallest of the three companies that control HDD manufacturing, has set a medium-term target of 30% of the market measured by storage capacity. Reaching that goal would mean taking market share from Seagate and Western Digital in an industry where tight supply has supported rising prices.
Hard Drive Makers Slide While Memory Stocks Hold Firm What Seagate and Western Digital share, and what separates both from the rest of the storage group, is concentrated exposure to the exact product Toshiba plans to build more of. Micron Technology (NASDAQ:MU), SanDisk (NASDAQ:SNDK) and SK Hynix (NASDAQ:SKHY) benefit from the same AI infrastructure boom through memory chips and flash storage without that HDD concentration. That likely explains why the Roundhill fund is holding steady.
Both stocks’ big runs this year leave them sensitive to news suggesting the industry’s supply and demand balance could loosen. Before the drop, Seagate shares were up 210% year to date (YTD), and Western Digital stock was up 150% YTD.
Western Digital CEO Irving Tan linked pricing directly to scarcity on the company’s August 5 earnings call, stating, “In the very tight supply environment that we’re in, that provides us an opportunity for increased pricing leverage as well.” Seagate has leaned on the same discipline, with chief executive Dave Mosley asserting on the company’s April 28 call, “The total number of units is not really increasing.” Toshiba’s plan to double its output works directly against that approach.
What to Watch Next Long-term contracts give Seagate and Western Digital some protection against Toshiba’s added supply. Nearline capacity at Seagate (the high-capacity drives sold to data centers) was almost fully allocated through calendar 2027, the company stated in April. Guidance from Western Digital calls for the company’s fiscal Q1 2027 revenue to reach $4.1 billion, plus or minus $100 million.
What remains unknown is how quickly Toshiba’s new capacity reaches cloud buyers. Any slide in the Roundhill Memory ETF to match the two stocks would suggest the worry is spreading beyond HDDs.
Contact [email protected] for any questions or corrections.
SpaceX Starship dosáhl oběžné dráhy a zvyšuje tlak na Rocket Lab, jehož raketa Neutron stále čeká na první let. Firma přitom ve 2. čtvrtletí zvýšila tržby o 62 % na 234,07 milionu USD.
Starship reaching orbit scrambles the economics for every rocket startup, and Rocket Lab and Redwire are betting on opposite strategies to survive the fallout. Only one of those bets looks smart right now.
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Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) and Redwire (NYSE:RDW) posted record second quarters in August on Pentagon demand. Now SpaceX’s Starship has reached orbit, changing the competitive landscape. Rocket Lab is building a rival rocket; Redwire is buying rides from SpaceX. That split matters.
Rocket Lab Builds the Rival. Redwire Buys the Ride. Rocket Lab’s revenue rose 62% to $234.07 million, with backlog reaching $2.36 billion. Space Systems brought in $189.5 million versus $44.6 million from launch. CEO Sir Peter Beck: “The most successful space companies will be the ones that have the keys to space.”
Redwire grew faster. Revenue rose 89.6% to $117.07 million. Edge Autonomy’s Stalker and Penguin drones raised Defense Tech revenue to $61.88 million, which put it ahead of the Space division. A book-to-bill ratio of 1.42 means new orders are still coming in faster than Redwire delivers. Its venture SpaceMD also bought an entire SpaceX Starfall spacecraft for a 2028 microgravity mission. CEO Peter Cannito called it “a game changer.”
Business Driver Rocket Lab Redwire Main Growth Engine Flatellite and GEO satellites Stalker and Penguin drones SpaceX Relationship Competitor via Neutron Customer via Starfall Backlog $2.36 billion $542.1 million Starship Puts a Target on Neutron’s Price Tag Starship is a real threat to Neutron’s pricing. Launching on Falcon 9 already costs about $2,700 a kilogram. As SpaceX gets better at reuse, repairing a rocket could cost roughly 1/100th of building a new one. Rocket Lab prices Neutron at an average of $50 to 55 million per launch, and CFO Adam Spice sees “more upside to ASPs.” I doubt that holds if Starship’s launch pace keeps climbing. Beck says that “launch has never been so constrained,” but Neutron still has to fly, and he admitted that “the window for an end-of-year launch is narrowing.”
Rocket Lab is valued at 57.93 times sales, compared with Redwire’s 6.12. That gap assumes Neutron comes through. Rocket Lab shares sit at $70.46, up just 1% this year and far below their 52-week high of $151. That’s despite a rise today on a record Electron launch deal and a Citi buy rating. Redwire, at $10.58, is up 39.21% this year as drone orders keep building.
Neutron’s Stage Test Could Reset Both Stocks I’m watching Neutron’s stage testing, which Beck called the last major step before first flight. I’m also tracking Rocket Lab’s Q3 revenue guidance of $250 million to $265 million. For Redwire, keep an eye on gross margin. Management still guides to the “low to mid-20s”, even though Q2 came in at 27.8%.
Why I Lean Toward Redwire While Starship Scales Redwire fits this moment better. Cheaper launch helps a company buying rides, and its drones sell into NATO demand independent of rocket costs. A quarterly loss of $40.97 million warrants caution.
Rocket Lab is the stronger business with $2.13 billion in cash and an Iridium deal closing in mid-2027. If Neutron flies successfully, I would rethink quickly. Until then, its valuation leaves little room for a Starship price war.
Contact [email protected] for any questions or corrections.
Coca-Cola vyplatila čtvrtletní dividendu 0,53 USD na akcii a pokračuje tak už 63. rokem růstu dividendy v řadě. Firma zároveň zvýšila výhled volného cash flow na zhruba 12,4 miliardy USD.
Coca-Cola just cut another quarterly check to shareholders, but the real story is what the payout reveals about the company's financial strength, its ongoing IRS battle, and whether 64 consecutive years of dividend raises are in jeopardy.
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Coca-Cola (NYSE:KO | KO Price Prediction) shareholders received $0.53 per share on October 1, 2026. The board declared the dividend on July 15, 2026, and the ex-dividend date was September 15, 2026. Shares held before that date earned the dividend. Buyers from that date forward must wait for the next quarter.
The payout for this quarter is the same as the prior quarter’s. The annual raise came earlier in the year, so this check adds one more quarter to one of the longest dividend records on the market.
Dividend Scorecard: Payment, Pace, and Price Metric Figure Quarterly dividend paid October 1, 2026 $0.53 Same-quarter payment a year earlier (October 1, 2025) $0.51 Trailing 12-month dividends per share $2.10 Annualized forward dividend rate $2.12 Share price (close, October 1, 2026) $86.10 Trailing dividend yield 2.5% The forward rate of $2.12 runs ahead of the trailing total of $2.10, because the higher quarterly rate has not yet been in place for a full four quarters.
The yield is moderate. The stock has gained 24.6% year to date and 30.3% over the past year, and that rally has pulled the yield lower even as the payout grew. Shares trade at about 26 times trailing earnings and 25 times forward earnings. They trade between a 52-week low of $65.84 and a high of $92.49.
Safety Check: Earnings and Cash Flow Cover the Payout Coverage matters more than yield here, and the coverage numbers hold up. Trailing diluted EPS is $3.33, well above the $2.10 in dividends paid per share over the same stretch. In the quarter ended June 30, 2026, Coca-Cola earned $4.43 billion in net income and paid $2.28 billion in common dividends.
Furthermore, operating cash flow reached $5.52 billion in the second quarter against capital spending of $418 million. Management reported first-half free cash flow of “approximately $6.9 billion,” up from the prior year. Full-year free cash flow guidance is about $12.4 billion, raised from $12.2 billion. For scale, the company paid $8.78 billion in dividends during all of 2025.
There is a caveat. Reported operating cash flow for 2025 was $7.41 billion, below the dividend outlay. The shortfall came from a one-time item: the Fairlife contingent consideration payment made in the first quarter of 2025, which drove operating cash flow in that quarter to negative $5.20 billion. Cash generation in the four quarters since then points to a business that funds its dividend from ongoing operations.
Balance Sheet Leaves Room to Spare As of June 30, 2026, Coca-Cola held $12.91 billion in cash and equivalents against $43.54 billion in total debt. Shareholder equity rose to $36.15 billion at the end of 2025 from $32.17 billion in the prior year. Management put the leverage figure in context during the July earnings call:
Our balance sheet remains strong with our net debt leverage of 1.4 times EBITDA, which is below our target range of 2 to 2.5 times. Given the momentum of our business and the strength of our balance sheet, we have increased flexibility and optionality to continue to both reinvest in our business and return capital to share owners.
63 Straight Years of Raises Behind This Payment Coca-Cola had raised its dividend for 63 consecutive years through 2025. The move from $0.51 to $0.53 per quarter shows the 2026 increase went through on schedule. That record puts Coca-Cola well past the 50-year mark that defines a Dividend King.
Total cash paid to shareholders has risen steadily, from $7.25 billion in 2021 to $7.62 billion in 2022, $7.95 billion in 2023, $8.36 billion in 2024, and $8.78 billion in 2025. Over the same period, the share count edged down from 4.34 billion to 4.31 billion, so each remaining share captures a slightly larger portion of the payout.
Operating Momentum Supports the Next Raise The dividend is backed by a growing business. Second-quarter EPS of $0.97 beat the $0.9323 consensus estimate. Revenue of $13.38 billion rose 6.7% year over year. Operating margin expanded to 34.9% from 34.1%, and global unit case volume grew 5%, with Coca-Cola Zero Sugar up 16%.
The company raised its 2026 outlook and now expects comparable EPS growth of “9 to 10% versus $3 in 2025,” along with organic revenue growth of “approximately 5%.” Chief Executive Henrique Braun said, “I’m confident we are well positioned to deliver on our raised 2026 guidance.” Some institutional investors see value at current levels. A Fidelity fund manager recently told Barron’s that Coca-Cola shares look like bargains.
What Income Holders Should Track Next IRS tax dispute: Coca-Cola presented oral arguments before the 11th Circuit Court of Appeals in June, and management said, “the timing of a decision from the appellate court is unknown at this stage.” A win would give the company access to funds already deposited with the IRS. A loss is laid out in its financial statements. Third-quarter earnings report: Management expects concentrate shipments to lag unit case volume by a point in the third quarter, which could make reported growth look softer than underlying demand. Free cash flow delivery: Hitting the $12.4 billion target would leave dividend coverage comfortable going into the next annual increase decision. Consumer pressure: Management noted that lower-income consumers remain under pressure in North America and globally, a factor that bears on volume. Income investors can take comfort knowing that earnings cover the dividend with room to spare, 2026 free cash flow is on track to exceed the full annual payout, leverage remains below management’s own target, and more than six decades of continuous increases stand behind each quarterly check. Also, the yield is moderate after a strong run in the stock.
Contact [email protected] for any questions or corrections.
Alphabet masivně investuje do AI infrastruktury, ale volný peněžní tok byl ve 2. čtvrtletí -5,86 mld. USD a firma pozastavila zpětné odkupy akcií. Analytici přesto vidí 26% růstový potenciál.
Alphabet is pouring hundreds of billions into AI infrastructure while free cash flow turns negative and buybacks disappear, yet analysts still see 26% upside from here. Whether that bet pays off by 2030 depends on a few pivotal questions the…
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Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) trades at $338.24. In a base-case projection, a $10,000 position today grows to about $35,778 by 2030. Google’s launch of Gemini 4 Argon, its most advanced AI model, has put the company’s AI execution back at the center of the debate.
Alphabet runs Search, YouTube, Android, Google Cloud and Waymo. Second-quarter revenue reached $119.80B, up 24.2% YoY, and Cloud revenue rose 82%. Even so, the stock trades below its 52-week high of $408.1. Investors are still working through 2026 capex guidance of $175B to $185B.
Cloud Hypergrowth at a Big Tech Discount The bulls point to a trailing P/E of 17 and a PEG ratio of 1.255 for a company growing this fast. Google Cloud has a backlog of $460B+, and nearly 90% of Fortune 100 companies now use Gemini Enterprise. Search, the core business, still grew 17%.
Alphabet also has other ways to win. Waymo is delivering 500,000+ fully autonomous rides per week, and the company has beaten EPS estimates for 11 consecutive quarters. On CNBC, Dan Nathan called it “the most diversified way to play AI going forward.”
A Capex Surge That Is Burning Through Cash Bears argue the AI buildout is hurting shareholder returns. Second-quarter free cash flow was -$5.86B, and the company suspended its buyback. Long-term debt rose from $46.5B to $98.2B.
Reported earnings also look stronger than the underlying business. Second-quarter net income of $112.11B included a $99.03B gain on equity securities. Consensus FY2027 EPS of $14.9221 sits below the FY2026 estimate of $20.6248, which explains why the forward P/E is 23. Generative AI could also cut into Search monetization, and European regulators remain active.
Waiting for Free Cash Flow to Recover Capex remains the central issue. Revenue growth and operating margin of 34% remain strong, but spending on this scale has not yet shown it can earn a matching return. A stronger investment case depends on free cash flow turning positive and Cloud margins holding up as depreciation increases. Over the next two to four quarters, keep an eye on whether the buyback resumes and whether AI Overviews help or hurt Search ad pricing.
Alphabet Is Beating the S&P 500 Over the Past Year Alphabet trades at $338.24. The consensus target is $429.36, suggesting 26.9% upside. Analyst targets are one input among many and can miss badly. Of 61 analysts:
Strong Buy: 13 Buy: 43 Hold: 5 Sell: 0 Over the past year, the stock rose 38.47%, compared with 14.3% for the S&P 500. Year to date, Alphabet trails the index, up 8.27% versus 12.04%.
Why $10,000 Could Top $35,000 by 2030 At $338.24, most covering analysts rate Alphabet a Buy or Strong Buy.
The base-case model puts the stock at $1,210.14 by late 2030, which would turn $10,000 into roughly $35,778. An upside scenario of $1,224.46 works out to about $36,201. The bear case of $632.66 still gets to about $18,704. These are model scenarios that carry significant uncertainty.
Cloud is the main way there. If the backlog turns to revenue and capex peaks in 2026, free cash flow should recover by 2027 and the buyback could return. Waymo and Gemini subscriptions would add to that (the power, cooling, and networking suppliers behind that same AI expansion are the subject of a free report we put together here).
The argument falls apart if Search revenue growth falls into single digits or if negative free cash flow continues past 2027. With an earnings yield of 6.66% and a large cash-generating core business, the company has a buffer through the spending cycle.
Alphabet is investing heavily in AI infrastructure, and the stock trades at a forward P/E of 23.
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Amazon i Alphabet ve 2. čtvrtletí vykázaly zisky 53,4 miliardy dolarů a 99 miliard dolarů z Anthropic, ale Amazon má přímější vazbu přes smluvní poptávku po čipech Trainium. Anthropic míří k IPO na konec roku 2026.
Amazon and Alphabet both booked staggering Anthropic gains last quarter, yet the two hyperscalers are playing completely different games with the AI company heading toward a public listing.
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In their second-quarter reports, Amazon (NASDAQ:AMZN | AMZN Price Prediction) and Alphabet (NASDAQ:GOOGL) both booked huge Anthropic gains. Amazon recorded a $53.4 billion non-operating gain, mostly from Anthropic. Alphabet logged $99 billion in unrealized equity gains. Anthropic targets a late-2026 window for its IPO. A listing would benefit each company in different ways.
Trainium Drives AWS While Gemini Drives Google Cloud AWS revenue reached $42.2 billion, up 36.7%, its fastest growth in 18 quarters. CEO Andy Jassy called Anthropic and OpenAI “the two leading AI labs in the world” and said both have made multi-year, multi-gigawatt commitments to Trainium. Project Rainier runs on more than 500,000 Trainium2 chips for training Claude. The commitment ties Anthropic closely to AWS infrastructure.
Google Cloud grew 82% to $24.77 billion. Anthropic runs workloads on Google TPUs, yet Sundar Pichai promoted Gemini, mentioning that nearly 90% of the Fortune 100 use Gemini Enterprise. Google launched Gemini 4 Argon, a model competing directly with Claude.
Anthropic Lens Amazon Alphabet Q2 Equity Gain $53.4B, mostly Anthropic $99.03B, includes Anthropic Compute Tie Trainium, up to 5 GW committed TPU workloads Claude Relationship Hosts Claude Opus 5 on Bedrock Gemini competes head-on Amazon Is Anthropic’s Partner. Alphabet Also Competes With It. Amazon’s chip business has passed a $25 billion run rate and is growing at triple-digit rates. Anthropic is a major proof point for Trainium. Jassy noted there is “a real chance” Amazon will sell Trainium chips outside AWS, and a successful Anthropic IPO would strengthen that sales pitch.
Alphabet’s balance sheet faces pressure. It raised $49.6 billion in equity and suspended buybacks. Long-term debt rose from $46.5 billion to $98.2 billion. A public Anthropic stake would give Alphabet an asset it could eventually sell.
Anthropic’s Public Valuation Could Move Both Earnings Reports A public price will set a new value for both stakes. Watch whether Anthropic shifts more compute toward TPUs as it grows, and monitor cash burn. Amazon’s trailing free cash flow was -$7.6 billion, and Alphabet’s quarterly figure was -$5.86 billion. IPO gains are paper gains. Data centers are paid for in cash, and the power, cooling, and networking suppliers behind that expansion are a trade of their own (we covered seven of them in a free AI infrastructure report).
Amazon Holds the Deeper Anthropic Link Investors Can’t Ignore Amazon benefits twice: through the equity mark and through years of contracted Trainium demand. Jassy said the “lion’s share of capacity in 27” is already reserved, with Anthropic accounting for a large part. Alphabet has the bigger paper gain and stronger stock performance, up 38.47% over the past year versus Amazon’s 12.51%. That makes Alphabet the broader AI story and Amazon the company with more direct Anthropic exposure.
Contact [email protected] for any questions or corrections.
Fifty-two analysts cover Microsoft and not one recommends selling, yet the stock has gone nowhere for a year while Azure just crossed a historic revenue threshold. Something in that gap between Wall Street conviction and share price stagnation does not…
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The 24/7 Wall St. price target for Microsoft (NASDAQ:MSFT | MSFT Price Prediction) is $627.63 over the next 12 months. The target stands 22.37% above the current price of $512.90. Our model rates the stock a buy with high confidence.
Metric Value Current Price $512.90 Price Target from 24/7 Wall St. $627.63 Upside/Downside 22.37% Recommendation BUY Confidence Level 90% Wall Street agrees. Microsoft has 14 Strong Buy, 38 Buy and 3 Hold ratings, with zero Sells. The consensus target is $578.42, implying about 12.8% upside. Our target stands above the Street because consensus is underpricing how quickly Azure capacity will convert to revenue.
Azure Tops $100 Billion While Shares Tread Water The stock is up 2.56% over the past week and 6.83% year to date, but about flat for the full year at -0.06%. The 52-week range runs from $348.54 to $549.20.
The business grew much faster than the stock. Microsoft reported fiscal Q4 2026 results on July 29. Revenue came in at $90.01 billion, up 17.75%, beating the $87.63 billion estimate. EPS of $4.74 beat the $4.24 estimate. Azure grew 43% and passed $100 billion in annual revenue. Commercial backlog rose 84% to $678 billion.
Why Bulls See $727 Within Reach In our bull case, the stock hits $727.41. Supply is the main driver. Management guided to Azure growth of about 45% in constant currency for fiscal Q1 2027. CFO Amy Hood said “demand continues to exceed available supply.” Each new gigawatt of capacity sells almost as soon as it comes online.
AI products are making real money. Microsoft 365 Copilot has passed 30 million paid seats, with net additions more than doubling from the prior quarter. GitHub Copilot revenue grew over 60% quarter over quarter.
Capex and Free Cash Flow Are the Pressure Points Our bear case comes to at $533.45. Q4 capital spending rose 109.63% to $35.80 billion, and free cash flow fell 23.19%. Management expects fiscal 2027 capex of about $175 billion. More Personal Computing, which includes Windows and Xbox, contracted 4%. Excluding OpenAI, backlog grew a more modest 25%.
Operating cash flow rose 30% to $55.44 billion, and Microsoft expects free cash flow to stay positive. Hood said spending is flexible: “If the demand environment changes, you just slow down what is, in fact, the largest component.”
Microsoft Pairs Growth With Positive Free Cash Flow, Unlike Amazon and Alphabet Amazon (NASDAQ:AMZN) runs AWS, Azure’s closest rival. AWS grew 37%, slower than Azure, yet Amazon trades at 35x trailing earnings versus Microsoft’s 28x. Amazon’s trailing free cash flow was negative $7.6 billion.
Alphabet (NASDAQ:GOOGL) trades at 15x earnings, and Google Cloud grew 82%. A $99.03 billion gain on equity securities inflated those earnings. Alphabet had negative Q2 free cash flow of $5.855 billion and suspended its buyback.
Company Trailing P/E Cloud Growth Microsoft 28 43% (Azure) Amazon 35 37% (AWS) Alphabet 15 82% (Google Cloud) Against these peers, our target looks reasonable. Microsoft has premium-quality cash flow at a valuation between the two.
Microsoft Price Prediction 2026-2030 I stand by our 24/7 Wall St. price target of $627.63, a buy rating and 90% confidence. Capacity selling as soon as it arrives tips the scale. My confidence would rise if Azure delivers the guided acceleration and Copilot seat additions keep compounding.
I would get more conservative if capex keeps growing while free cash flow contracted for several more quarters. For now, the evidence supports the bull side.
Our model projects where Microsoft could trade if current growth and market conditions hold.
Year Price Target from 24/7 Wall St. 2026 $542.26 2027 $629.19 2028 $727.64 2029 $820.67 2030 $895.81 Contact [email protected] for any questions or corrections.
Akcie Nike klesly pod své 52týdenní minimum, když letos odepsaly 51,13 %. Management zároveň čeká ve fiskálním roce 2027 pokles tržeb o vysoké jednociferné procento.
Nike just slipped below its 52-week low while the broader market climbs, but one analyst sees a path to gains that would leave the rest of Wall Street stunned. The question is whether the turnaround math actually works.
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Nike (NYSE:NKE | NKE Price Prediction) currently trades at $35.10. The average analyst price target stands at $45.63, which implies 30% upside.
Nike is the world’s largest athletic footwear and apparel supplier, now going through a turnaround under CEO Elliott Hill. Piper Sandler analyst Abbie Zvejnieks rates the stock Overweight. Her $75.00 target implies more than 113% upside, far above Wall Street’s consensus.
The gap between consensus and Piper’s target reflects the core debate: one side views a fallen blue chip near its bottom; the other sees a restructuring requiring more time and cost than bulls expect.
A Shrinking Sales Outlook and a China Reset Sent Nike to a 52-Week Low Nike’s guidance did the most damage. Management expects fiscal 2027 revenue to fall by a high-single-digit percentage, with adjusted EPS of $1.15 to $1.35 versus fiscal 2026 EPS of $2.10. Shares are down 43.44% year to date.
First-quarter revenue fell 4.3% to $11.21 billion, missing the $11.32 billion consensus, though EPS of $0.48 beat the $0.44 estimate. Greater China revenue dropped 22%, Converse fell 28%, and Jordan Brand declined by a mid-teens percentage. Sportswear revenue fell by a low-double-digit percentage after Nike cut Dunk revenue by nearly 50%. Management warned that China “actually gets worse from a revenue perspective for the balance of this year.”
While the sector is weak, Nike is pulling back supply and clearing inventory, making much of this decline company-specific.
Piper Sandler’s $75 Case Rests on Cost Cuts and a Performance Comeback Piper’s bull case rests on three points:
Cost cuts that free up $600 million to $1 billion in yearly savings, adding 130 to 200 basis points to operating margin. A wholesale restructuring that wins back shelf space at retailers. New running and performance shoes that take back share from challenger brands. Jefferies has also stayed bullish, with a target around the $75 level.
Nike’s Pace restructuring targets about $2.5 billion in total savings through fiscal 2031, with most coming in fiscal 2029 and 2030. Performance business grew by a high-single-digit percentage and running by double digits. Hill called that “a proof point” for the strategy. Nike plans to share a long-term financial framework at its November investor day.
The Street remains largely conservative. Of 39 analysts, one rates Nike a Strong Buy, 10 a Buy, 25 a Hold, one a Sell, and two a Strong Sell. Management also said pain will “bleed in a little bit into fiscal 28,” so recovery will take time.
Deckers Outdoor (NYSE:DECK) has the largest consensus upside in the group, which also includes Lululemon Athletica (NASDAQ:LULU).
Nike Slips Below Its 52-Week Low as the S&P 500 Climbs At $35.10, Nike stands just under its $35.16 52-week low and far below its $72.39 high. The $45.63 consensus target from 39 analysts implies 30% upside.
Shares fell 7.92% over the past month and 51.13% over the past year, while the S&P 500 gained 12.04% year to date and 14.3% over the past year. Nike trades at about 21 times forward earnings and pays a $0.410 quarterly dividend that management says it can support “under all scenarios.”
Nike’s Recovery Case Is Credible, but $75 Is Years Away Upside would build if the November investor day lays out a credible path to higher margins, if Pace savings arrive on schedule, and if performance growth offsets cuts in Sportswear and Jordan. The road to $75 runs through wider margins on steady sales.
Risks would mount if China drops beyond fiscal 2027, if Converse keeps shrinking, or if Dunk and Jordan cutbacks leave a gap that performance products can’t fill. Adjusted EPS is guided to $1.15 to $1.35, leaving little room for a guidance cut.
I lean cautiously bullish. The 30% consensus upside looks reachable if Pace delivers. The dividend is backed by $8.4 billion in cash and short-term investments. Piper’s $75 target is the best case, requiring nearly everything to go right.
Contact [email protected] for any questions or corrections.
Nvidia v premarketu vzrostla v pátek o 1,64 % poté, co ji Morgan Stanley znovu označila za svou nejlepší volbu mezi polovodiči. Banka vidí další růst díky expanzi AI infrastruktury.
Nvidia shares rose in premarket trading on Friday after Morgan Stanley reinstated the chipmaker as its top semiconductor pick.
The analysts said the company remains well positioned to benefit from the continued expansion of artificial intelligence infrastructure.
The NVDA stock was up 1.64% in premarket trading after Morgan Stanley analyst Joseph Moore said Nvidia was trading at a valuation that left room for further upside as earnings estimates continue to rise.
"We certainly see NVIDIA as well positioned, with a very undemanding valuation," Moore wrote following investor meetings with Nvidia CEO Jensen Huang, CFO Colette Kress and investor relations head Toshiya Hari in New York and Boston.
Nvidia currently trades at about 15 times Morgan Stanley’s fiscal 2028 earnings estimate, according to Moore.
He said the valuation multiple could expand if investor enthusiasm for artificial intelligence returns, although such an expansion is not necessary for the stock to perform well as earnings expectations increase.
The bank also sees a shift in the main constraint facing the AI industry.
Rather than chip production, the bottleneck is increasingly becoming the pace at which new data center capacity can be constructed and financed.
That shift could benefit Nvidia, given the breadth of its cloud customer base and its ability to supply customers in markets where power availability is less constrained.
Nvidia lists 80 cloud partners globally, with 55 located outside the US, giving the company flexibility as AI infrastructure investment spreads across regions.
Moore also highlighted the diversity of Nvidia’s customer base beyond the largest technology companies.
“While 90% of investor conversations are around the biggest hyperscalers and frontier model companies, half of the business - probably the faster growing half - is a broader range of AI model companies, Neoclouds, sovereign entities, ODMs and OEMs, and enterprise customers,” Moore wrote.
Morgan Stanley also pointed to Nvidia’s strategy of increasing the amount of revenue generated from each unit of power used by AI infrastructure.
Morgan Stanley estimates Nvidia's 2028 Feynman architecture could lift revenue per gigawatt from roughly $40 billion to well above $50 billion.
That could become increasingly important as data center operators face constraints around electricity generation, grid connections and available power.
Moore also expects the development of AI agents to increase demand for CPUs, but said the impact on GPU spending should be significantly larger.
Nvidia’s cash generation has provided another source of support for the shares in recent days.
The company recently authorized an additional record $150 billion for share repurchases, taking its remaining buyback authorization to $235 billion.
Nvidia expects to deploy that authorization through fiscal 2028.
Nvidia received another boost on Thursday after Barclays analyst Tom O’Malley raised the potential for the chipmaker’s hyperscaler revenue.
Using what he described as “napkin math” based on Nvidia’s latest disclosures on information technology spending by major cloud providers, O’Malley estimated that Nvidia could generate $237 billion in hyperscaler revenue in 2026 and $401 billion in 2027.
Those figures compare with Barclays’ existing estimates of $206 billion and $370 billion, respectively.
In an upside scenario, Barclays sees hyperscaler revenue reaching $246 billion in 2026 and $417 billion in 2027.
O’Malley estimates Nvidia’s share of IT capital spending among the five largest cloud providers could reach 44% in 2027.
Barclays maintains an ‘Overweight’ rating on Nvidia with a $275 price target, while Cantor Fitzgerald analyst C J Muse has a Buy rating and a $350 price target.
Meanwhile, Nvidia’s biggest customers are also looking at ways to manage the enormous capital requirements associated with AI infrastructure.
Amazon is seeking to transfer about $8 billion of Nvidia Grace Blackwell chips to outside investors through a new financing vehicle, according to the Financial Times report.
Amazon has reportedly held talks with investors about moving thousands of Grace Blackwell chips being installed in US data centers into a special-purpose vehicle.
The company would then lease the chips back from the vehicle, which would raise debt from outside investors.
The structure could allow Amazon to adopt a more asset-light approach by shifting ownership of the expensive semiconductors to investors while retaining access to the computing capacity.
Amazon plans to offer investors an equity stake of up to 10% in the vehicle, according to the report.
The proposed transaction highlights the scale of capital being committed to Nvidia’s AI infrastructure ecosystem, while also showing how cloud companies are exploring alternative financing structures as spending on advanced computing accelerates.
Altria má sice dividendový výnos 6,6 %, ale její hlavní byznys klesá a vlastní kapitál je záporný ve výši 3,2 miliardy USD. Dividenda už spolyká asi 78 % až 79 % upraveného EPS pro rok 2026.
Altria's 6.6% yield and 60 consecutive raises look bulletproof until you dig into what sits beneath them: a shrinking core business, a failed smoke-free pivot, and a balance sheet with liabilities that dwarf its assets.
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Altria (NYSE:MO | MO Price Prediction) has more risk than its yield suggests. The yield is easy to like. A forward dividend of $4.44 a share against a $66.94 stock price works out to about 6.6%, and the board just raised the quarterly payout to $1.11. To a retiree, that looks like a reliable paycheck. Behind it sit a shrinking core business, a smoke-free strategy that keeps losing ground, and a balance sheet with no buffer.
Cigarette Volumes Keep Falling, and Price Hikes Are Covering the Gap Domestic cigarette shipment volume fell 10.0% in 2025. Marlboro’s retail share dropped 1.4 points to 39.7% in Q1 2026, then lost another 1.5 share points year over year in Q2 as discount share grew 2.6 share points. Altria fills the hole with price. Marlboro’s retail price rose about 7% in Q2. That strategy depends on smokers who, by management’s own account, are stretched. Altria’s chief executive told analysts in July, “The consumer remains under pressure.”
Altria Is Losing the One Category That Is Growing Altria took $2.2 billion in NJOY e-vapor impairment charges in 2025, and NJOY ACE has no announced return date. In nicotine pouches, which reached 58.1% of U.S. oral tobacco, on! saw its category share fall 4.2 points to 13.4% in Q1 2026, down from 16.7% in Q2 2025. on! shipments then dropped 4.2% in Q2. Rivals are getting the growth Altria needs.
Dividend Coverage Has Thinned and the Balance Sheet Offers No Buffer Altria paid $7.0 billion in dividends in 2025 against net income of $6.95 billion. Stockholders’ equity stood at negative $3.2 billion in Q1 2026, with total liabilities of $37.7 billion above total assets of $34.6 billion. The forward dividend uses up about 78% to 79% of 2026 adjusted EPS guidance of $5.61 to $5.72, which implies just 3.5% to 5.5% growth, partly helped by buybacks. Even the Q1 revenue jump of 20.1% leaned on 610 million contract-manufactured export sticks.
Bulls point to the record. The 2025 raise was Altria’s 60th increase in 56 years, and debt-to-EBITDA stands at a manageable 1.9 times. That run was built on pricing power over a shrinking unit base, and that power weakens as smokers trade down. A yield this high usually means the market suspects something, and we broke down the seven warning signs that a payout is about to be cut in a free dividend trap guide. Shares are also up 21.73% year to date, so buyers today pay more for the same declining business.
Philip Morris Offers a Better-Built Route to Tobacco Income Among tobacco peers, Philip Morris International (NYSE:PM) has the growth engine Altria lacks. Smoke-free products made up about 42% of its Q2 2026 net revenue, revenue grew 10.37%, and 2026 adjusted EPS guidance calls for 9.5% to 11.5% growth. It also has negative equity of $6.66 billion, so its edge rests entirely on growth. Still, its dividend is backed by an expanding business.
Watch on! pouch share and Marlboro retail share in the next report, because a stop in both declines for several straight quarters would signal the core business is stabilizing.
Contact [email protected] for any questions or corrections.
Teva oznámila, že ecopipam u 69,8 % pacientů s Touretteovým syndromem vedl během 8 týdnů ke klinicky významnému snížení tiků. V průběžném 18měsíčním hodnocení si lék udržel účinek bez nových bezpečnostních signálů.
Based on a post hoc analysis, a majority of participants (~70%) experienced clinically meaningful tic reduction within 8 weeks of starting ecopipamAn interim 18-month analysis of an ongoing open-label extension study demonstrated a mean reduction in tic severity scores (45.6%) with no new safety signals observedAdditional analyses found that common concurrent psychiatric conditions did not negatively impact ecopipam’s efficacy or safety, adding to the growing body of evidence supporting ecopipam’s application currently under FDA Priority Review PARSIPPANY, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced new data for ecopipam, a first-in-class investigational selective D1 (dopamine) receptor antagonist for the treatment of pediatric patients with Tourette syndrome. Presented at the International Congress of Parkinson’s Disease and Movement Disorders (MDS) in Seoul, South Korea (October 4–8, 2026), the data include a post hoc analysis of safety and efficacy during the initial 8 weeks of treatment with ecopipam, long-term efficacy and safety from an interim analysis of an ongoing open-label extension (OLE) study, post hoc subgroup analyses and preclinical receptor selectivity findings.
“Tourette syndrome is a complex neurodevelopmental disorder that presents significant daily challenges for children and their families,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer of Teva. “These promising new data for ecopipam reinforce our confidence in its potential in pediatric Tourette syndrome care. If approved, ecopipam would be the first new therapy for Tourette syndrome in more than 10 years and the first with a novel mechanism of action in more than 50 years.”
Key Findings from Studies Include:
Tic Severity Reduction Observed Within Two Months of Treatment: In a pooled post hoc analysis of 292 patients across Phase 2b and Phase 3 trials, a clinically meaningful improvement in the Yale Global Tic Severity Scale Total Tic Score (YGTSS-TTS) (score ≥25%) was observed in 69.8% of participants within the first eight weeks of treatment with ecopipam. The most commonly reported adverse events (AEs) were somnolence and headache, and the most commonly reported cross-trial AEs were most often observed within the first eight weeks of ecopipam exposure.Clinically Meaningful Reduction in Tic Severity Sustained >1 year: An interim analysis of an ongoing 36-month OLE study included patients who completed the phase 3 study and the phase 2b OLE study receiving ecopipam titrated over 3-4 weeks then maintained at a target dose for up to 36 months. The study evaluated 118 children, adolescents and adults with Tourette syndrome who received at least one dose of ecopipam (median treatment exposure of 14.9 months). Ecopipam maintained clinically meaningful tic suppression through 18 months according to the YGTSS-TTS. The most commonly reported AEs were nasopharyngitis, upper respiratory tract infection, anxiety, diarrhea, influenza, pyrexia and insomnia. Co-Occurring Psychiatric Conditions Did Not Impact Efficacy or Safety of Ecopipam: A post hoc analysis evaluated 216 participants (aged ≥6 years) from the Phase 3 trial, comparing outcomes between those with (n=129) and without (n=87) common co-occurring psychiatric conditions, including ADHD, OCD, anxiety and depression. During the 12-week open-label period, the presence of co-occurring conditions did not negatively impact reductions in tic severity, with mean YGTSS-TTS score reductions consistent across participants with ≥1 co-occurring conditions and those without. Overall safety and tolerability profiles were similarly consistent between both groups. “Many children with Tourette syndrome do not receive treatment, and among those who do, treatment is often discontinued within a year because symptoms remain inadequately controlled or side effects become difficult to tolerate,” said Donald L. Gilbert, M.D., M.S., Pediatric Movement Disorders and Tourette Syndrome Specialist, Division of Neurology, Cincinnati Children’s Hospital Medical Center. “Children living with Tourette syndrome urgently need treatment options that work rapidly, remain effective over time and have a demonstrated tolerability profile. These findings are encouraging because they suggest that, if approved, ecopipam may offer patients and families a meaningful new option.”
About Tourette Syndrome
Tourette syndrome is a chronic neuro-developmental disorder characterized by involuntary motor and vocal tics beginning in childhood, often between 5 and 10 years of age.2 For people living with Tourette syndrome, symptoms can be frequent, visible and disruptive, affecting everyday life.2
About Ecopipam and Its Clinical Program
Ecopipam is a first-in-class investigational therapy designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.
Ecopipam was granted Priority Review by the FDA with Orphan Drug designation for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.
The D1AMOND Phase 2b Trial was a 12-week randomized, double-blind, placebo-controlled trial that studied 153 pediatric participants across 68 sites in North America and Europe. The primary efficacy endpoint was the change in the YGTSS-TTS, i.e., sum of the motor and vocal tic scores, from baseline to end of therapy.3 The associated Phase 2b open-label extension enrolled 121 pediatric subjects from the Phase 2b trial and followed them for up to 12 months’ duration to evaluate the long-term safety and tolerability of ecopipam.4 The subsequent D1AMOND Phase 3 Trial was a double-blind, placebo-controlled, randomized withdrawal trial enrolling a total of 216 pediatric and adult participants into an open-label stabilization period and randomizing 104 participants (90 pediatric, 14 adult) across 77 sites in North America and Europe. The objective of this study was to evaluate the maintenance of efficacy of ecopipam in pediatric and adult responders utilizing the YGTSS-TTS change from randomization or increased Tourette-specific care to determine relapse.5 While this Phase 3 trial included adult participants, the accepted NDA and resulting indication sought by Teva are exclusively for pediatric patients.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause Teva’s future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “developing,” “target,” “may,” “expand,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future performance. Important factors that could cause or contribute to such differences include risks and uncertainties relating to: our ability to successfully develop, obtain regulatory approval for and commercialize ecopipam; our ability to successfully compete in the marketplace including our ability to develop and commercialize ecopipam for the treatment of pediatric patients with Tourette syndrome; our ability to successfully execute on our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and to profitably commercialize our innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the second quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
References:
U.S. Food and Drug Administration (FDA) Approval Records: Haloperidol (1969), Pimozide (1984), Aripiprazole (2014); Pringsheim, T., et al. (2019). The pharmacological management of tic disorders: an updated practice guideline. Neurology.CDC | Tourette Syndrome | Data and Statistics on Tourette Syndrome, 2024; Mayo Clinic | Tourette Syndrome – Diagnosis and treatment, 2025.Gilbert DL, Dubow JS, Cunniff TM, et al. Ecopipam for Tourette Syndrome: A Randomized Trial. Pediatrics. 2023;151(2):e2022059574. doi:10.1542/peds.2022-059574Gilbert DL, Kim DJB, Miller MM, et al. Safety and Effect of 12-Month Ecopipam Treatment in Pediatric Patients with Tourette Syndrome. Mov Disord Clin Pract. 2025;12(8):1157-1166. doi:10.1002/mdc3.70091.Gilbert DL, Atkinson SD, Kim DJB, et al. Efficacy and Safety of Ecopipam for Tourette Syndrome: A Phase 3 Randomized Clinical Trial. JAMA Neurol. 2026;83(7):645–653. doi:10.1001/jamaneurol.2026.1431 Teva Media Inquiries: [email protected]
Journal of Child Neurology zveřejnil přehled, který podporuje selektivní mechanismus receptoru D1 u ecopipamu u Tourettova syndromu u dětí. Ve fázi 3 snížil u pediatrických pacientů riziko relapsu tiků o 50 % ve srovnání s placebem.
The published review examines dopamine’s role in tic generation and how approved and investigational drugs may affect dopamine to reduce tics as well as synthesizes clinical trial evidence that ecopipam reduces tic severity, provides sustained benefit over time and helps prevent relapse without some of the complications associated with antipsychotic agents.¹Ecopipam is an investigational, selective D1 (dopamine) receptor antagonist targeting dopaminergic signaling in the brain’s direct motor pathway implicated in Tourette syndrome.Unlike D2 antipsychotics that target D2 receptors in the indirect pathway, ecopipam selectively targets D1 receptors in the direct motor pathway, offering a differentiated approach that may reduce tic severity while potentially avoiding common adverse events associated with D2-targeting therapies.1 PARSIPPANY, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced that the Journal of Child Neurology published a comprehensive review examining dopamine pathways in Tourette syndrome and the therapeutic potential of ecopipam, a first-in-class investigational selective D1 (dopamine) receptor antagonist for the treatment of pediatric patients with Tourette syndrome.1,2 The review evaluates current treatment limitations and details how selectively targeting D1 receptors in the brain’s direct motor pathway may offer a differentiated, non-antipsychotic approach for managing tics in pediatric patients.1
“Tourette syndrome affects up to 1 in 130 children globally and can have a profound impact on a child's daily life, education and social development,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer at Teva. “The review published in the Journal of Child Neurology reinforces the potential of ecopipam’s selective dopamine D1 receptor approach. This is the kind of innovative programs we are pursuing at Teva—advancing differentiated science to address meaningful unmet needs.”
The comprehensive review details the neurobiological rationale for D1 receptor antagonism compared with existing therapies. In Tourette syndrome, elevated dopaminergic activity in the basal ganglia is proposed to contribute to the expression of involuntary tics. Because D1 receptors are primarily expressed by neurons in the direct motor pathway, ecopipam is hypothesized to block excess dopaminergic activity in this pathway, thereby normalizing downstream basal ganglia signaling and movement patterns. In contrast, traditional antipsychotics target D2 receptors, which are primarily associated with the indirect pathway.
This mechanistic distinction is supported by clinical data synthesized across the ecopipam development program. In a Phase 3 trial (n=216, including 167 pediatric), continued ecopipam treatment cut the risk of tic relapse by 50% versus placebo in pediatric participants (HR: 0.5; P=0.008), building on Phase 2b and 12-month open-label data showing sustained reductions in tic severity. Across clinical trials, the most common adverse events included somnolence, headache, insomnia, fatigue and anxiety while ecopipam was not associated with clinically relevant weight gain, adverse metabolic effects or drug-induced movement disorders. The potential importance of this efficacy and tolerability profile is underscored by real-world treatment persistence data, which show that treatment discontinuation rates among patients newly treated with D2 receptor antagonists were 61.2% by 3 months and 82.1% by 18 months.1
“Treatment of Tourette syndrome can be complex, as clinicians must balance tic improvement with the side effect profiles of current therapies,” said Donald L. Gilbert, M.D., M.S., senior author of the review and Pediatric Movement Disorders and Tourette Syndrome Specialist, Division of Neurology, Cincinnati Children’s Hospital Medical Center. “Ecopipam selectively targets the dopamine D1 receptor, and the data reviewed in this publication – demonstrating reduced tic severity and sustained benefit without significant weight gain, metabolic complications or movement disorders – supports continued research into D1 receptor antagonism for Tourette syndrome.”
For more information on the review published online in the Journal of Child Neurology, click here.
About Tourette Syndrome
Tourette syndrome is a chronic neuro-developmental disorder characterized by involuntary motor and vocal tics beginning in childhood, often between 5 and 10 years of age.3 For people living with Tourette syndrome, symptoms can be frequent, visible and disruptive, affecting everyday life.3
About Ecopipam and Its Clinical Program
Ecopipam is a first-in-class investigational therapy designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.
Ecopipam was granted Priority Review by the FDA with Orphan Drug designation for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.
The D1AMOND Phase 2b Trial was a 12-week randomized, double-blind, placebo-controlled trial that studied 153 pediatric participants across 68 sites in North America and Europe. The primary efficacy endpoint was the change in the YGTSS-TTS, i.e., sum of the motor and vocal tic scores, from baseline to end of therapy.4 The associated Phase 2b open-label extension enrolled 121 pediatric subjects from the Phase 2b trial and followed them for up to 12 months’ duration to evaluate the long-term safety and tolerability of ecopipam.5 The subsequent D1AMOND Phase 3 Trial was a double-blind, placebo-controlled, randomized withdrawal trial enrolling a total of 216 pediatric and adult participants into an open-label stabilization period and randomizing 104 participants (90 pediatric, 14 adult) across 77 sites in North America and Europe. The objective of this study was to evaluate the maintenance of efficacy of ecopipam in pediatric and adult responders utilizing the YGTSS-TTS change from randomization or increased Tourette-specific care to determine relapse.6 While this Phase 3 trial included adult participants, the accepted NDA and resulting indication sought by Teva are exclusively for pediatric patients.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause Teva’s future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, you can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “developing,” “target,” “may,” “expand,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future performance. Important factors that could cause or contribute to such differences include risks and uncertainties relating to: our ability to successfully develop, obtain regulatory approval for and commercialize ecopipam; our ability to successfully compete in the marketplace including our ability to develop and commercialize ecopipam for the treatment of pediatric patients with Tourette syndrome; our ability to successfully execute on our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and to profitably commercialize our innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the second quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
References:
Karkanias, G. B., Flatt, J. A., Korb, R. T., Munschauer, F. E., Wanaski, S. P., Cunniff, T. M., & Gilbert, D. L. (2026). Targeting Dopamine Pathways for the Treatment of Tourette Syndrome. Journal of Child Neurology. https://doi.org/10.1177/08830738261491159U.S. Food and Drug Administration (FDA) Approval Records: Haloperidol (1969), Pimozide (1984), Aripiprazole (2014); Pringsheim, T., et al. (2019). The pharmacological management of tic disorders: an updated practice guideline. Neurology. CDC | Tourette Syndrome | Data and Statistics on Tourette Syndrome, 2024; Mayo Clinic | Tourette Syndrome – Diagnosis and treatment, 2025. Gilbert DL, Dubow JS, Cunniff TM, et al. Ecopipam for Tourette Syndrome: A Randomized Trial. Pediatrics. 2023;151(2):e2022059574. doi:10.1542/peds.2022-059574 Gilbert DL, Kim DJB, Miller MM, et al. Safety and Effect of 12-Month Ecopipam Treatment in Pediatric Patients with Tourette Syndrome. Mov Disord Clin Pract. 2025;12(8):1157-1166. doi:10.1002/mdc3.70091. Gilbert DL, Atkinson SD, Kim DJB, et al. Efficacy and Safety of Ecopipam for Tourette Syndrome: A Phase 3 Randomized Clinical Trial. JAMA Neurol. 2026;83(7):645–653. doi:10.1001/jamaneurol.2026.1431 Teva Media Inquiries: [email protected]
Společnost Salesforce uvedla, že ARR služby Agentforce ve 2. čtvrtletí přesáhl 1,5 miliardy USD, což je o více než 240 % meziročně. Kombinovaný ARR služeb Agentforce a Data 360 dosáhl téměř 3,9 miliardy USD.
Key Takeaways Salesforce's Agentforce ARR topped $1.5 billion in Q2, up more than 240% year over year.Bookings for Agentforce One Edition and Agentforce for Apps more than doubled sequentially in Q2.Salesforce says deeper use of Agentforce, Slack and Data 360 could expand its recurring revenue base. Salesforce, Inc. (CRM - Free Report) is expanding its AI bundles, aiming to make it easier for customers to adopt its growing suite of artificial intelligence (AI) tools. The company is continuously introducing premium bundles that combine new AI capabilities with its existing applications. Earlier in September 2026, it introduced Core, Advanced and Max editions for Agentforce Sales, Service and Industries, bundling AI, Slack, Tableau Next, security and support into a single purchase.
The early results suggest that its bundled approach could help lift recurring revenues. In the second quarter of fiscal 2027, it revealed that bookings from Agentforce One Edition and Agentforce for Apps more than doubled sequentially. Salesforce also stated premium Slack upgrades have tripled since Slackbot launched. These trends indicate that customers are moving from AI trials toward broader purchases.
The impact is already visible in Salesforce’s AI business. Agentforce ARR (annual recurring revenues) topped $1.5 billion in the second quarter, up more than 240% year over year. Combined Agentforce and Data 360 ARR reached nearly $3.9 billion, rising more than 210%. Meanwhile, customers generated 3.2 billion Agentic Work Units in the quarter, up 97% sequentially, pointing to stronger use of AI agents.
Higher adoption could support Salesforce in multiple ways. Bundles can increase spending from existing customers by adding AI features to current contracts. Deeper use of Agentforce, Slack and Data 360 can make Salesforce’s platform more valuable and expand its recurring revenue base.
Still, AI growth has yet to materially change the company’s overall growth rate. Second-quarter revenues rose 11% year over year to $11.35 billion, while management expects fiscal 2027 revenue growth of 11%-12%. Expanding AI bundles are a promising growth lever. If adoption remains strong, they could gradually accelerate Salesforce’s recurring revenue growth.
Salesforce Rivals Intensify AI Bundle CompetitionSalesforce is not the only enterprise software company using bundled AI products to increase customer spending. Its major competitors, Microsoft Corporation (MSFT - Free Report) and Oracle Corporation (ORCL - Free Report) , are also focusing on a similar approach.
Microsoft is expanding Microsoft 365 Copilot across its software ecosystem. In the fourth quarter of fiscal 2026, Microsoft 365 Copilot surpassed 30 million paid seats, with net seat additions more than doubling sequentially and the number of customers deploying above 50,000 seats growing more than sevenfold year over year. Microsoft’s Dynamics 365 revenues also increased 13% year over year in the fourth quarter, showing continued demand for its business applications.
Oracle is taking a similar approach by adding AI capabilities to its cloud applications. The company is moving beyond traditional per-seat licensing to consumption-based token bundles. This approach lets enterprises pre-purchase agentic AI capacity in a predictable, scalable way across application tiers.
In the fourth quarter of fiscal 2026, Oracle’s Cloud Applications revenues reached $4.1 billion, up 10% year over year, while total cloud revenues jumped 47% to $9.9 billion. Oracle’s AI-focused cloud strategy is also driving strong demand across its broader platform.
Salesforce’s Price Performance, Valuation and EstimatesSalesforce shares have declined 10.6% year to date, while the Zacks Internet – Software industry has risen 9.2%.
Salesforce YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CRM trades at a forward price-to-earnings ratio of 14.65, significantly below the industry’s average of 30.59.
Salesforce Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Salesforce’s fiscal 2027 earnings implies a year-over-year increase of approximately 33.5%, while estimates for fiscal 2028 indicate a 5% decline. Estimates for fiscal 2027 and 2028 earnings have been revised upward in the past 30 days.
Image Source: Zacks Investment Research
Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle uvedla, že multicloud databázové výnosy meziročně vzrostly o 353 %, ale přechod na cloud zvyšuje kapitálovou náročnost a tlačí na volný peněžní tok.
Key Takeaways Oracle's multicloud database revenues surged 353% as its cloud consumption shift accelerated.Pay-per-use pricing expands Oracle's market, but partner-hosted deployments add capital intensity.MongoDB and Snowflake are expanding margins, while Oracle's infrastructure buildout weighs on free cash flow. Oracle Corporation's (ORCL - Free Report) database business is being repositioned around cloud consumption, raising a central question: can its historically lucrative database franchise sustain margins as delivery shifts from licenses to usage?
Oracle made Exadata Database Service on Exascale Infrastructure generally available on Oracle AI Database@AWS, extending Exadata-class performance with pay-per-use pricing. Oracle also signed an expanded long-term collaboration agreement with Amazon Web Services (“AWS”) to accelerate customer migrations. The service now spans 22 AWS Regions.
The momentum was evident in first-quarter fiscal 2027 results. Multicloud database revenues surged 353% year over year, while multicloud customers rose 180%, and Oracle completed its planned expansion across Azure and AWS, reaching 70 multicloud database regions.
The shift, however, carries margin trade-offs. Software revenues, home to the legacy license and support streams, declined 3% to $5.5 billion as customers kept migrating on-premise workloads to the cloud. Pay-per-use pricing widens the addressable market but lowers entry price points, while partner-hosted deployments rely on Oracle hardware placed inside AWS data centers, adding capital intensity absent from traditional support contracts.
Consolidated profitability has held firm so far. Total revenues rose 30% to $19.3 billion, while non-GAAP operating income climbed 31% to $8.2 billion, implying a margin of about 42%, roughly in line with the year-ago level. GAAP operating income jumped 57% to $6.7 billion. Yet capital expenditures reached $28.5 billion, leaving free cash flow at negative $5 billion. Oracle expects to raise about $40 billion through debt and equity in fiscal 2027.
Guidance points to continued scale. For the second quarter, Oracle projects revenue growth of 30-34%, cloud revenue growth of 65-71% and non-GAAP EPS of $1.85-$1.93. For fiscal 2027, it expects revenues of at least $90 billion and non-GAAP EPS of $8.10, supported by remaining performance obligations of $664 billion.
Whether database margins endure will depend on multicloud volumes outpacing the erosion of legacy software revenues, while infrastructure costs keep climbing.
MDB & SNOW Show Consumption Margins ScalingMongoDB (MDB - Free Report) and Snowflake (SNOW - Free Report) offer a useful benchmark for consumption-based database economics. In second-quarter fiscal 2027, MongoDB’s revenues grew 30% to $771.8 million, with Atlas up about 29%, while its non-GAAP operating margin widened to 24% from 15%. MongoDB expects full-year margin expansion of roughly 250 basis points.
Snowflake’s product revenues increased 37% to $1.49 billion and non-GAAP operating margin improved to 15.3% from 11.1%. Snowflake raised its fiscal 2027 margin outlook to 14.5%. Both remain well below Oracle's roughly 42% non-GAAP operating margin, yet each is expanding profitability without the capital-intensive infrastructure buildout that is now weighing on Oracle's free cash flow.
ORCL’s Price Performance, Valuation & EstimatesORCL shares have plunged 29.2% year to date, underperforming the Zacks Computer and Technology sector’s growth of 22.4% and the Zacks Computer - Software industry’s decline of 3.5%.
ORCL’s YTD Price Performance
Image Source: Zacks Investment Research
ORCL’s valuation remains relatively attractive, with the stock trading at a trailing 12-month P/E ratio of 20.3X, lower than the sector average of 1.02X. Oracle has a Value Score of C.
ORCL’s Valuation Chart
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for ORCL’s fiscal 2027 earnings is currently pegged at $8.12 per share. The estimate implies 6.42% year-over-year earnings growth.
ORCL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Autodesk ve 2. čtvrtletí 2026 zvýšil tržby meziročně o 16 % a provozní marži na 29 %. Firma těží z integrace umělé inteligence a silného růstu fakturace.
SummaryAutodesk is rated a 'Strong Buy,' trading at a 16.75x forward P/E, well below its historical average.ADSK's connected Design and Make platform, enhanced by the MaintainX acquisition, deepens its end-to-end asset lifecycle solutions and recurring revenue base.Q2 2026 delivered 16% YoY revenue growth, 29% operating margin, and robust billings momentum across geographies and segments.ADSK's AI integration, strong balance sheet, and ongoing share buybacks underpin double-digit EPS growth and long-term total return potential.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More »AlexSecret/E+ via Getty Images
AI-related software stocks are now in an era of heavy capital spend as they build out their infrastructure. Examples include industry heavyweights like Google (GOOG), Meta (META), and Oracle (ORCL). This
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I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.
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Palo Alto Networks ve 4. čtvrtletí fiskálního roku 2026 přidala asi 220 nových platformizací a u zákazníků na platformě měla čistou retenci tržeb nad 120 %. Firma zároveň uzavřela obchody za 126 milionů USD a 72 milionů USD.
Key Takeaways PANW added 220 net new platformizations in fiscal Q4 2026, more than doubling its volume in two years.Platformized customers delivered net revenue retention above 120%, reflecting expanding product adoption.PANW secured $126 million and $72 million deals, expanding adoption across multiple security platforms. Palo Alto Networks (PANW - Free Report) is seeing strong momentum in its platformization strategy, which enables customers to standardize multiple security products on a unified architecture rather than relying on several separate tools. The company says this approach brings security data and policies together across control points, helping customers simplify operations and respond to threats in real time. PANW is using this strategy across Network Security, Cortex and Idira, while also expanding into areas such as SASE, AI security and observability.
The strategy is gaining traction with customers. In the fourth quarter of fiscal 2026, PANW added approximately 220 net new platformizations, more than twice the volume recorded when it began tracking the metric two years ago. The company also reported net revenue retention above 120% for its platformized customer cohort in the fourth quarter, indicating that customers are expanding their use of the platform.
Customer deals in the fourth quarter showed how Palo Alto Networks is using platformization to increase sales across products. A global telecom leader signed a $126 million agreement to expand its next-generation firewall footprint and replace legacy proxy providers with Prisma Access for SASE. A premier IT service provider signed a $72 million transaction covering Network Security, Cortex and Idira, with eight-figure investments in each. PANW also secured a $53 million deal with a leading global payments platform, which included a high-seven-figure commitment to Prisma AIRS as the customer expanded its enterprise AI initiatives.
The strategy is supporting growth across PANW's major platforms. Network and AI Security revenues grew 17% in fiscal 2026, while Cortex revenues rose 25% and Idira generated $1.26 billion in pro forma revenues, up 21%. PANW is targeting more than 4,000 platformizations by fiscal 2030 as part of its goal of reaching $20 billion in NGS ARR. The strong adoption of platformization and expansion across multiple security products provide a base for continued growth. As of now, PANW will need to maintain customer adoption and execute well across its expanding product portfolio to sustain this momentum.
How Competitors Fare Against PANWCompetitors like CrowdStrike (CRWD - Free Report) and SentinelOne (S - Free Report) are also gaining ground through platform expansion and AI innovation.
CrowdStrike ended its second quarter of fiscal 2027 with $5.84 billion in ARR, reflecting 25% year-over-year growth. The robust increase was fueled by the growing adoption of CrowdStrike’s Falcon Flex subscription model.
Though comparatively a small competitor, SentinelOne posted second-quarter fiscal 2027 year-over-year growth of 22% in its ARR. The growth was fueled by the rising adoption of SentinelOne’s AI-first Singularity platform and Purple AI.
PANW’s Price Performance, Valuation & EstimatesShares of Palo Alto Networks have jumped 115.1% in the year-to-date period compared with the Zacks Security industry’s appreciation of 104.7%.
PANW’s YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Palo Alto Networks trades at a forward price-to-sales ratio of 22.36X compared with the industry’s average of 20.17X. The Zacks Value Score of F suggests that PANW stock is overvalued.
PANW Forward 12-Month P/S Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Palo Alto Networks’ fiscal 2027 and 2028 earnings implies year-over-year growth of 8.9% and 17.6%, respectively. The estimates for fiscal 2027 have been revised up by 7 cents over the past 30 days. The same for fiscal 2028 has been revised down by 2 cents over the past 30 days.
Image Source: Zacks Investment Research
Palo Alto Networks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Chinese e-commerce giant JD.com (9618.HK) is set to secure European Union approval for its $2.5 billion bid for German electronics retailer Ceconomy (CECG.DE) after it tweaked its remedies to address regulators' concerns, a person familiar with the matter said.
The European Commission, which is the EU competition enforcer, is investigating the deal under the Foreign Subsidies Regulation that targets unfair foreign state aid.
At issue is whether JD.com received preferential financing, tax incentives and grants from the Chinese government that may have helped it to offer a higher price for Ceconomy.
The company, which in August offered to grant Ceconomy access to its European logistics and technological capabilities at market rates and also to let smaller rivals get access at fair and non-discriminatory rates, has improved its proposal after feedback from customers and rivals, the person said.
The Commission, which will decide on the deal by November 4, Ceconomy and JD.com all declined to comment.
The acquisition would allow one of China's largest retailers to expand outside its home market via Ceconomy-owned electronic products retailers MediaMarkt and Saturn.
Jefferies vidí u Emitelu až 60% růst ocenění a 34% nárůst čisté hodnoty aktiv Cordiant Digital Infrastructure při úspěšné realizaci růstové strategie. Emitel tvořil 56 % NAV Cordiantu k 31. březnu 2026.
Jefferies said successful execution of Emitel’s growth strategy could deliver 60% valuation upside for the business and increase Cordiant Digital Infrastructure Ltd (LSE:CORD, FRA:86L)’s net asset value by 34%.
The broker reached the estimate after a site visit to Emitel in Kraków, describing Cordiant’s largest asset as a multi-pillar growth opportunity.
Emitel represented 56% of Cordiant’s net asset value at 31 March 2026, making its future performance particularly important to the investment company.
Jefferies reported that Emitel had already achieved a compound annual growth rate of 8.5% in EBITDAaL, which refers to earnings after lease costs, between 2022 and 2025.
Free cash flow grew at a 25.5% compound annual rate over the same period, supporting management’s plans for further expansion across several businesses.
The broadcasting operation aims to digitise its core offering, win a new multiplex known as MUX-5 and develop products including 5G broadcasting.
Emitel also plans to double its tower portfolio from 776 sites while increasing the average number of mobile network operator tenants from 1.8 times to more than 2 times.
Tower expansion could accelerate through Emitel’s existing build-to-suit pipeline with Orange and potential acquisitions from smaller operators or mobile network operators.
The company is also pursuing adjacent markets including data centres, drone infrastructure and security, airspace management, and smart-city projects.
Emitel recently entered Poland’s data centre market by acquiring DC Blonie, a 2MW Warsaw site with Kyndryl as an anchor tenant under a five-year contract.
Jefferies highlighted further upside from filling the remaining space at the site, brownfield development at other Emitel locations and potential acquisitions.
Emitel is targeting high single-digit to low double-digit annual revenue growth and low double-digit annual EBITDA growth through 2030.
Management expects EBITDAaL to exceed PLN700 million in 2030, with the strategy backed by PLN600 million of growth capital expenditure between 2026 and 2030.
Jefferies stated that operational cash flow should fund most of that investment, with debt facilities offering additional support as needed.
The broker rates Cordiant Digital Infrastructure 'buy,' with the shares at 123p against a 52-week range of 96p to 128p, while no price target was provided in the note.
Lockheed Martin, General Dynamics, RTX a Northrop Grumman letos zvýšily čtvrtletní dividendu a všechny zároveň hlásí silný volný cash flow. U obranných firem stojí růst výplat na dlouhých vládních kontraktech a rekordním backlogu.
Defense contractors win contracts that stretch across multiple budget cycles, which means their dividend programs rest on a very different foundation than most industrial companies. Four of the largest primes have raised their payouts every single year, and the reasons…
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Most industrials live and die by the next order cycle. Defense primes book work on government contracts that stretch across several federal budget cycles, so their backlog behaves like a schedule of future cash receipts. One Lockheed Martin (NYSE:LMT | LMT Price Prediction) award, a seven-year contract valued at $35 billion for THAAD interceptors, shows how far that visibility can reach. This bundle is built around dividend growth and payout durability. All four carry modest yields. The appeal lies in long records of raising the quarterly check, backed by free cash flow guidance large enough to fund the next increase. For each stock, the income figure shown is the annualized forward dividend alongside the current share price.
Lockheed Martin: A Record Backlog Stands Behind Every Quarterly Check Lockheed builds the F-35 fighter, THAAD missile-defense interceptors, radars, hypersonic weapons and space systems for the U.S. government and allied militaries. Second-quarter revenue reached $20.06B (+10.5% YoY), and EPS of $7.94 beat the $7.20 estimate.
Income snapshot: The quarterly dividend is $3.45, an annualized forward payout of $13.8 per share against a current price of $510.61. Shares slipped 8.44% over the past month, so the yield on that payout is now measured against a lower share price.
Dividend safety: Management guides to 2026 free cash flow of $7.0 billion to $7.2 billion, after second-quarter free cash flow of $2.92B. Dividends cost $816 million in the first quarter and $796 million in the second. Full-year EPS guidance of $29.95 to $30.65 sits comfortably above the annual dividend. The CFO said the quarter showed “that we can invest for growth and deliver tangible shareholder value at the same time,” and management cites a strong credit rating as backing for its investment plans.
Track record: Lockheed lifted the quarterly rate from $3.3 to $3.45 starting with the 2025-12-01 ex-dividend date, after a prior step from $3.15 to $3.3. Every change in the quarterly rate since $0.11 in 2002 has been an increase. The last two raises were declared on 2025-10-09 and 2024-10-02, so keep an eye on the next declaration.
Bull case: Backlog sits at a record $230.42B, second-quarter book-to-bill hit 3.2 to one, and guidance went up across sales, EPS and free cash flow. Management said: “This deep book of contracts will fuel our sales growth for years to come.”
Risk: Program concentration. F-35 deliveries fell to 19 from 50 YoY in Q2. Management expects the 156-per-year production rate to hold but concedes funding depends on congressional and administration budget decisions. With one aircraft program this central, delivery slowdowns flow directly into cash timing.
General Dynamics: Cash Piling Up While the Shipyards Fill General Dynamics (NYSE:GD) spans Gulfstream business jets, nuclear submarines, surface combatants, auxiliary ships and land combat systems. Second-quarter revenue rose to $14.1 billion, up 8.1%, and EPS of $4.24 beat the $3.97 estimate for a fifth straight EPS beat.
Income snapshot: The quarterly dividend is $1.59, a forward annual rate of $6.36 per share against a price of $332.75. The next ex-dividend date is 2026-10-09, with payment on 2026-11-13. Shares are down 10.39% over the past month.
Dividend safety: First-half free cash flow came to $3.6 billion, against $834 million in dividends paid during first half of 2026. Management raised its full-year cash conversion outlook to “around 105%” of net income. The balance sheet is moving the right way: cash of approximately $4.3 billion and net debt of $3.2 billion, down $1.2 billion in a single quarter after repaying $500 million of notes with no refinancing planned.
Track record: The dividend stepped up from $1.50 to $1.59 starting with the 2026-04-10 ex-dividend date. Every change in the quarterly rate since $0.23 in 2006 has been an increase.
Bull case: Backlog hit a record $136.5 billion, up 32% from a year ago, with total estimated contract value of $186.9 billion. Book-to-bill was 1.4 to 1 and topped 1 to 1 in all four segments, and full-year EPS guidance rose to $16.80 to $16.90.
Risk: Shipbuilding capital intensity. Marine margin runs at 7.3% versus 14.5% in Aerospace, and the CFO warned “the profile of our investment” will grow significantly in the back half, alongside an approximately $500 million pension contribution. Second-half cash flow will look thinner than the first.
RTX: Jet Engine Aftermarket Gives This Payout a Second Engine RTX (NYSE:RTX) runs three businesses: Collins Aerospace ($8.21B in second-quarter revenue), Pratt & Whitney engines ($8.89B) and Raytheon defense systems ($8.27B). Its $289B backlog splits $162B commercial / $109B defense, making it the most commercially weighted name here.
Income snapshot: RTX pays $0.73 quarterly, a forward annual rate of $2.92 against a price of $185.68. The stock is up 12.61% over a year despite a 10.61% slide over the past month.
Dividend safety: Management raised 2026 free cash flow guidance to $8.50 to $8.75 billion, and second-quarter free cash flow reached $2.88B (vs. $69M prior year). Adjusted EPS guidance of $7.10 to $7.25 covers the forward dividend several times over. The chief executive said: “A commitment to the dividend, for sure. Obviously, we raised the dividend again here recently.” Debt reduction ranks alongside the payout among capital priorities.
Track record: The quarterly rate rose from 0.68 to 0.73 starting with the 2026-05-22 ex-dividend date. The record shows the rate reset to 0.475 in 2020, alongside a one-time 40.58 entry, and every change since has been an increase.
Bull case: Pratt commercial aftermarket sales grew 25%, and Raytheon posted a book-to-bill of 2.42. Civil aviation repair revenue and defense orders fund the same dividend, giving RTX two independent cash streams.
Risk: Commercial engine exposure. The Pratt & Whitney powder-metal GTF issue still requires accelerated inspections, with roughly $150 million of related compensation in the quarter. Management also flagged that part of second-quarter cash reflected timing and that inventory builds will weigh on working capital.
Northrop Grumman: Record Awards and a Marked-Down Share Price Northrop Grumman (NYSE:NOC) builds the B-21 bomber, the Sentinel ICBM, munitions and a large slate of restricted programs. Second-quarter awards totaled $20B, including $7.6B Sentinel and $4.3B restricted, pushing backlog to a record $104.69B. EPS of $7.68 beat the $6.82 estimate.
Income snapshot: The quarterly dividend is $2.47, a forward annual rate of $9.88 against a price of $485.01. Shares are down 19.07% over the past year, so the rising payout is now measured against a lower share price.
Dividend safety: Northrop reaffirmed 2026 free cash flow guidance of $3.1 to $3.5B, after second-quarter free cash flow of $978M (+53.5%) offset a seasonal first-quarter outflow of -$1.82B. MTM-adjusted EPS guidance of $28.60 to $29.10 sits well above the dividend. The CFO said “we understand how important free cash flow is for our investors.”
Track record: The rate climbed from $2.31 to $2.47 starting with the 2026-06-01 ex-dividend date, following raises to $2.31 and $2.06 in the prior two years. Setting aside a one-time $6.366 payment in 2011, every change in the regular quarterly rate since $0.23 in 2004 has been an increase.
Bull case: Management expects full-year book-to-bill of at least 1.25 times and targets doubling international sales to $10 billion by 2031.
Risk: Fixed-price development and classified program dependence. Operating income fell 23.1% on $68M SiAW and $91M GEM 63XL unfavorable adjustments, while net income leaned on a one-time $179M IRS benefit. Restricted programs disclose little, so cost overruns tend to surface as surprise charges, and capex near 4.5% of sales in 2027 and 2028 for the B-21 ramp will compete with payout growth.
Four Raises in a Year Keep the Growth Story Intact All four companies raised their quarterly dividends within the past 12 months, and all four guide to free cash flow that dwarfs what they pay out. Lockheed brings a record contracted book, General Dynamics a rapidly falling net debt, RTX a commercial cash stream layered on defense, and Northrop a classified franchise trading well below last year’s price. For income investors who prioritize rising checks over a big starting yield, this group offers long raise records worth researching.
If multi-decade raise records are the appeal here, it is worth looking beyond defense too. We ranked ten companies with 50-plus consecutive years of dividend increases by valuation in a free Dividend Kings report.
Contact [email protected] for any questions or corrections.
According to an announcement from Bithumb, the South Korean crypto exchange will launch a new Talus (US) South Korean won (KRW) trading market, with support limited to the Sui network; deposits on other networks are not currently supported. The announcement notes that Talus (US) deposits and withdrawals will open within two hours of the announcement’s release, with trading set to commence at 15:00 KST on October 2. The benchmark price is 37.85 KRW, and deposits require 20 confirmations. After the new trading pair goes live, buy orders will be restricted for the first five minutes.
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BitGo CEO Mike Belshe warned that the failure to advance the CLARITY Act leaves the U.S. market exposed to ongoing systemic risks—particularly those stemming from a single entity controlling trading platforms, brokerage, and asset custody services simultaneously. Belshe noted that this business combination poses a more alarming risk than the Lehman Brothers collapse: a brokerage failure would cause localized losses, but if the same entity also operates a trading platform and holds asset custody functions, its failure could drag the entire market into crisis.
The Ensign Group koupila provoz čtyř zařízení ve státě Washington, včetně čtyř domovů pro seniory se 140, 140, 115 a 137 lůžky. Zároveň rozšířila své portfolio o další akvizice na Floridě a v Coloradu.
SAN JUAN CAPISTRANO, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the EnsignTM group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it acquired the operations of four facilities in Washington (i) “Burien Nursing and Rehabilitation”, a 140-bed skilled nursing facility located in Burien, WA; (ii) “Issaquah Nursing and Rehabilitation”, a 140-bed skilled nursing facility located in Issaquah, WA; (iii) “Park Ridge Nursing and Rehabilitation”, a 115-bed skilled nursing located in Shoreline, WA; and (iv) “Park West Nursing and Rehabilitation”, a 137-bed skilled nursing facility located in Seattle, WA. Each of these facilities is operated by an Ensign affiliated operator and is subject to a long-term triple net lease.
“The addition of these facilities represents an exciting opportunity to strengthen our presence in the Pacific Northwest and further expand our operations in Washington,” said Barry Port, Ensign’s Chief Executive Officer. “These facilities serve vibrant communities throughout the Seattle area, and we have tremendous confidence in our local leadership teams and their ability to support strong clinical programs while maintaining a resident-centered approach to care.”
Steve Farnsworth, President of Pennant Healthcare LLC, Ensign’s Washington-based subsidiary, added “These facilities have long served as important healthcare resources in their communities, and we are excited to build upon that legacy. Our local teams look forward to working closely with these amazing caregivers as we continue enhancing care for the residents and families in these communities.”
In an additional transaction on the same day, Ensign announced that it acquired the operations of eight facilities in Florida comprised of 713 additional skilled nursing beds and 66 independent living units. Every facility is operated by an Ensign affiliated operator and is subject to a long-term triple net lease.
In a separate transaction on the same day, Ensign announced that it acquired the real estate and operations of “Englewood Heights Nursing and Rehabilitation”, a 118-bed skilled nursing facility located in Pensacola, Florida. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the facility is operated by an Ensign-affiliated tenant.
In another transaction on the same day, Ensign announced that it acquired the operations of seven facilities in Colorado comprised of 760 additional skilled nursing beds and 47 independent living units. All seven facilities are operated by an Ensign affiliated operator and are subject to a long-term triple net lease.
Additionally, Ensign announced that through subsidiaries of Standard Bearer Healthcare REIT, Inc. it acquired the real estate assets to five facilities that it had previously been operating under third-party triple net leases. These facilities total 755 skilled nursing beds and are now subject to long-term leases with subsidiaries of Standard Bearer.
As of today, Ensign's growing portfolio consists of 418 healthcare operations, which includes 50 senior living operations, across 18 states. Ensign subsidiaries, including Standard Bearer, own 189 real estate assets. Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
About EnsignTM
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 418 healthcare facilities in Alabama, Alaska, Arizona, California, Colorado, Florida, Idaho, Iowa, Kansas, Nebraska, Nevada, Oregon, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.
Alaska Airlines rozšiřuje boj o Seattle s Delta i do Evropy a Asie: chce do roku 2030 ztrojnásobit počet mezikontinentálních destinací z města na alespoň 15. Plánuje zahájit lety do Paříže a Athén příští rok a sází na prémiové kabiny a mezinárodní tržby.
Alaska Airlines (ALK.N) is taking its decade-long Seattle battle with Delta Air Lines (DAL.N) overseas, deploying the widebody jets it acquired with Hawaiian Airlines to go head-to-head for premium international travelers.
For much of its history, Alaska made money by operating more cheaply than the large US network carriers and cultivating loyalty in the Pacific Northwest through a largely domestic network.
The carrier, based in a region that is home to Amazon (AMZN.O), Microsoft (MSFT.O), Starbucks (SBUX.O) and Costco (COST.O), as well as major Boeing (BA.N) operations, now wants to earn more from premium cabins, international travel and its loyalty program without sacrificing its cost advantage.
Alaska aims to triple its intercontinental destinations from Seattle to at least 15 by 2030 and become the city's largest international carrier. It plans to launch flights to Paris and Athens next year.
But about 92% of Alaska's scheduled intercontinental seats from Seattle in the 12 months through August 2027 are on routes Delta also serves nonstop, a Reuters analysis of Cirium data shows, placing nearly all that capacity in direct competition with its larger rival.
Alaska's shift is a bet that premium and international revenue can close a gap with larger rivals that its cost advantage alone cannot bridge.
In the first half, the carrier spent about 17% less than the average of Delta, United Airlines (UAL.O) and American Airlines (AAL.O) to fly a seat one mile, excluding fuel, a Reuters analysis of company filings found. But it generated roughly a fifth less revenue per seat mile, leaving it less room to absorb the fuel-price shock tied to the Iran war.
"The airlines that actually have high cost structures are the ones making the highest margins," Alaska CEO Ben Minicucci told investors on Tuesday. "We need to pivot."
The fight at the third-busiest airport on the US West Coast reflects a broader industry battle for premium, international and loyalty revenue, an increasingly important source of profits for the largest carriers. A similar contest between American and United is playing out at Chicago O'Hare.
Delta, which calls Seattle its "premier Pacific gateway," added Rome service this summer and plans a daily flight to Tokyo Narita from March 2027, a route Alaska already serves. It has also secured preferential access to 18 airport gates and opened two additional lounges.
For Alaska, the stakes are high as the fuel-price shock has squeezed its profits this year.
The company estimates international travel accounts for roughly 30% of airline revenue in Seattle, a pool of business it historically captured only in part.
It is adding Boeing 787s, premium cabins and lounges to build Seattle into a gateway to Europe and Asia.
Alaska said on Tuesday it plans to join American's revenue-sharing ventures across the Atlantic and Pacific. If regulators grant antitrust immunity and other approvals, it could coordinate fares and schedules and share revenue with American and its overseas partners on covered routes.
HOME-TURF ADVANTAGE
The pivot centers on Alaska's home market, where Delta has built a rival hub. The carriers ended their codesharing and frequent-flier partnership in 2017 as competition intensified.
Alaska, including Hawaiian, accounts for about half of scheduled airline seats in the Seattle area, roughly twice Delta's share. Across the oceans, the balance reverses: Delta has about twice as many scheduled intercontinental seats from Seattle over the same period, Cirium data shows.
Alaska plans to use its home-market advantage to narrow the gap, funneling travelers from across the West onto its long-haul flights.
More than half of passengers on Alaska's Seoul and Reykjavik flights connect through Seattle, the company told Reuters, while London and Rome depend more heavily on local traffic. In an interview, President and Chief Financial Officer Shane Tackett said connecting traffic has run above expectations on some long-haul routes.
Delta did not respond to a request for comment.
THE COST OF GOING GLOBAL
Going global will add aircraft, crews and operating complexity while putting Alaska into more direct competition with Delta. The risk is that those costs could arrive faster than the new revenue needed to pay for them.
Melius Research analyst Conor Cunningham said Alaska is focused on the right areas but faces near-term pressure from high fuel costs and heavier competition in key markets.
Alaska has limited financial room for a strategic misstep: it expects to end 2026 with net leverage — debt relative to earnings — at three times its long-term target.
Alaska's 787 operation has higher-than-normal crew expenses as it builds pilot and flight-attendant bases in Seattle. Tackett said those costs should normalize as more aircraft arrive and the operation gains scale.
Its first European summer showed how quickly the economics can turn. Stronger-than-expected premium demand to London helped the operation turn a profit in July before higher fuel prices erased that gain, Tackett said.
Alaska expects nearly 60% of revenue to come from outside the price-sensitive main cabin by 2030, up from 53% this year, a shift it is betting will make the business more resilient.
"What we've recognized is the winning airline of the future looks different than it did 10 years ago," Tackett told Reuters.
Marvell zvýšil výhled tržeb pro fiskální rok 2028 na 18 miliard USD, protože zakázkové AI čipy mají více než zdvojnásobit. Dohoda s Alphabet může přinést až 120 miliard USD tržeb za šest let.
The data center boom has been good for Marvell Technology (MRVL +1.47%). Revenue has accelerated over the past few years and rose 36% year over year in the most recent quarter. Now, Marvell's newest custom chip deals with the biggest cloud builders could extend its growth runway.
On its Aug. 27, 2026, earnings call, the company raised its fiscal 2028 revenue outlook to $18 billion, with custom silicon expected to more than double. Its custom business has more than 20 design wins across Amazon, Alphabet (GOOG -1.70%)(GOOGL -1.70%), Microsoft, and Meta Platforms, but a recent deal with Alphabet could be the most significant yet.
Image source: Getty Images.
Marvell is embedding itself deeper into the AI supply chain These four hyperscalers are expected to spend roughly $745 billion this year, according to The Motley Fool's research, driven by the need for data center capacity. Those dollars should flow to suppliers like Marvell, as cloud leaders deploy custom artificial intelligence (AI) chips to manage costs and power consumption.
In July, Marvell signed a major agreement with Alphabet's Google spanning accelerators, storage controllers, network interface controllers, and memory controllers. These custom silicon programs will tie into Google's TPU ecosystem. Overall, the Google deal amounts to $120 billion in cumulative total revenue over six years, assuming certain milestones are met.
Marvell expects fiscal 2027 revenue to reach $12 billion, up from $8 billion in fiscal 2026. CEO Matthew Murphy said on the company's Aug. 27, 2026, earnings call that the company's revenue should pick up in the second half of this year, with its custom silicon business expected to more than double year over year in fiscal 2028, before accelerating "significantly" in fiscal 2029.
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Marvell CEO sees Google boosting custom revenue opportunity Since June 2025, Murphy has guided to more than $10 billion of custom silicon revenue by fiscal 2029. On the recent earnings call, he added that the Google agreement "greatly increases the revenue opportunity for us in custom with some of that potentially starting in '29." The company plans to update its long-term revenue target at its upcoming Investor Day.
Marvell's other products, including networking, controllers, and memory interfaces, should also see revenue growth as demand rises for Google's TPUs and custom chips from other hyperscalers. Research from Cathie Wood's team at Ark Invest expects spending on custom chips to grow faster than overall compute spending, which would be a tailwind for Marvell.
Selling the compute chip and the surrounding components can be lucrative and support strong earnings growth. While a more custom-chip mix could pressure margins, management expects its adjusted operating margin to increase. Marvell expects to exit the current year with an adjusted operating margin between 38% and 40%, reach the top end next year, and grow operating expenses more slowly than revenue.
Key risks, valuation, and the next catalyst Marvell has to execute in a fast-moving AI compute market. It also depends heavily on Taiwan Semiconductor Manufacturing and other suppliers in Asia. Any disruption, including economic pressure, geopolitical risks, or natural disasters, could delay revenue targets. Of course, Marvell is also dependent on a booming data center market, and any regulation or other event that slows the data center build-out could derail its momentum.
The stock is priced for perfection at a forward price-to-earnings ratio of 60. Still, if Marvell delivers on its long-term revenue targets, shares could have meaningful upside. Analysts project earnings growth of roughly 46% annually over the next several years.
A near-term catalyst is Marvell's upcoming Investor Day on Oct. 6, 2026. If management raises its long-term outlook for custom silicon revenue, the market may start valuing Marvell like a durable long-term growth story, potentially lifting the stock.
Huntington Ingalls Industries oznámila největší překonání odhadů: EPS činil 5,27 USD oproti 3,82 USD a tržby vzrostly o 10,9 %. Zároveň zvýšila výhled pro segment stavby lodí na 10,2 miliardy až 10,4 miliardy USD.
Defense budgets are surging toward record levels, yet three of America's biggest contractors enter October trading nowhere near their peaks. One of them just posted the largest earnings beat of the group, and the market still walked away unimpressed.
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Defense budgets are expanding, yet three of the largest U.S. defense contractors enter October well below their 52-week highs. The FY 2027 investment request by the Department of War totals $756.8 billion, including $52.9 billion for Critical Munitions and $87.2 billion for Sea Power investments. Share prices have moved in the opposite direction, and that gap creates a research opportunity.
These three companies beat second-quarter earnings estimates and raised full-year guidance. We ranked them on beat magnitude, revenue growth, guidance raises, backlog, free cash flow momentum, and whether each pullback reflects a fixable problem or a structural one. Each trades below its 52-week high as of September 30.
#3: L3Harris Technologies Waits on a Delayed Missile IPO L3Harris Technologies (NYSE:LHX | LHX Price Prediction) traded around $236.79 on Oct. 1, against a 52-week high of $374.59, down 22.23% year to date (YTD). It operates as both a prime and a supplier, building space sensors, radios, and electronic warfare systems while acting as the only company currently producing PAC-3 solid rocket motors at scale.
Operations look healthy. EPS of $3.13 beat the $2.83 estimate for a fifth consecutive beat. Revenue rose 8.4% and free cash flow increased 39.7% to $771 million. A seven-year THAAD and PAC-3 framework represents approximately $12 billion of future production revenue.
The pullback has specific causes: Management pushed the missile IPO to mid-2027, saying “Market conditions have evolved and do not reflect the tremendous value we are building.” Multiple law firms announced investor investigations in September. At 24x trailing earnings, L3Harris carries the highest multiple of the group, while missile revenue accelerates across the 2027, 2028 and 2029 timeline. The weakness looks temporary, but the return window is long.
#2: Northrop Grumman Pairs Record Backlog With Isolated Charges Northrop Grumman (NYSE:NOC) traded around $484.13 on Oct. 1, far below its $767.12 high and near its $476.85 low. Shares fell 5% over the past week. This prime carries clear program concentration in the B-21 bomber and Sentinel ICBM.
EPS of $7.68 beat the $6.82 estimate, and backlog hit a record $104.69 billion on $20 billion of net awards, including $7.6 billion for Sentinel. Free cash flow rose 53.5%, and adjusted EPS guidance moved to $28.60 to $29.10.
The misses matter: Operating income fell 23.1% on unfavorable adjustments of $68 million on the Stand-in Attack Weapon and $91 million on GEM 63XL. A tax rate of 6.3%, down from 17.7%, flattered the bottom line. Management granted “we are not done with the qualification. Until we are, there is risk.” Those problems sit outside B-21 and Sentinel, which supports a temporary read. At 16x trailing earnings, the Air Force decision on a larger B-21 program, expected by year end, is the next catalyst.
#1: Huntington Ingalls Industries Posts the Biggest Beat at the Lowest Multiple Huntington Ingalls Industries (NYSE:HII) traded around $270.18 on Oct. 1 versus a $455.9 high, the steepest YTD decline of the group at 22.75%. As the nation’s largest military shipbuilder, building carriers, submarines, destroyers and amphibious ships, it carries the greatest concentration risk: The Navy is effectively its customer base.
EPS of $5.27 beat the $3.82 estimate by 38.02%. Revenue grew 10.9%, operating margin expanded 86 bps, and shipbuilding guidance rose to $10.2 billion to $10.4 billion from $9.7 billion to $9.9 billion. Backlog stands at $57.3 billion.
Weak spots remain: Free cash flow was negative $150 million on seasonality, Mission Technologies slipped 3.9%, and Ingalls started slowly on labor. Those are execution issues with visible fixes: HII hired over 3,500 shipbuilders and improved throughput 12% YTD. At 15x trailing earnings, analysts target $367.25.
Why Huntington Ingalls Leads This October Defense Watchlist We set out to separate real problems from temporary ones, and the ranking follows that test. Huntington Ingalls combines the largest beat, the fastest growth, and the lowest multiple, with risks tied to labor that management is actively fixing. If Ingalls throughput stalls, guidance comes under pressure, making the 15% full-year throughput goal worth monitoring. Northrop ranks second because its charges sit in smaller programs, though the B-21 decision carries weight. L3Harris ranks third because its missile value comes later and costs more today. We see Huntington Ingalls offering the best fundamental case of these three pullbacks heading into the fourth quarter.
Contact [email protected] for any questions or corrections.
Home BancShares, Inc. (NASDAQ:HOMB) will release its third quarter earnings report after the closing bell on Wednesday, Oct. 14.
Analysts expect the Conway, Arkansas-based company to report quarterly earnings of 64 cents per share, up from 61 cents per share in the year-ago period. The consensus estimate for HOMB’s quarterly revenue is $294.21 million. It reported $280.59 million last year, according to Benzinga Pro.
On July 22, Home BancShares raised its quarterly dividend from 21 cents to 21 cents per share.
Shares of Home BancShares rose 1.4% to close at $28.56 on Thursday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Cantor Fitzgerald analyst Dave Rochester maintained a Neutral rating and raised the price target from $30 to $31 on Aug. 19, 2026. This analyst has an accuracy rate of 59%. Citigroup analyst Benjamin Gerlinger maintained a Neutral rating and boosted the price target from $29 to $32 on July 21, 2026. This analyst has an accuracy rate of 51%. Piper Sandler analyst Stephen Scouten maintained an Overweight rating and increased the price target from $33 to $36 on July 17, 2026. This analyst has an accuracy rate of 74%. Stephens & Co. analyst Matt Olney maintained an Overweight rating and raised the price target from $32 to $35 on July 17, 2026. This analyst has an accuracy rate of 69%. Keefe, Bruyette & Woods analyst Christopher Mcgratty maintained a Market Perform rating and raised the price target from $30 to $32 on July 17, 2026. This analyst has an accuracy rate of 65%. Considering buying HOMB stock? Here’s what analysts think:
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Key Highlights ARK Invest purchased 233,482 shares of Rocket Lab valued at approximately $16.4 million on October 1. The investment firm offloaded 20,805 Palantir shares valued at around $4 million during the same trading session. Additional purchases included BWX Technologies, Intellia Therapeutics, and Veracyte stocks. ARK reduced holdings in Alphabet and liquidated a minor Zillow stake. Analysts assign Rocket Lab a Strong Buy consensus with 56% potential upside, compared to Palantir’s Moderate Buy rating with 6% upside potential. Cathie Wood’s ARK Invest executed multiple strategic stock transactions on Thursday, October 1, according to the firm’s publicly disclosed trading activity. The moves included significant acquisitions and strategic exits across several positions.
The investment management company acquired 233,482 shares of Rocket Lab distributed across three different ARK funds. This combined purchase represented an investment totaling approximately $16.4 million.
Rocket Lab USA, Inc., RKLB
Simultaneously, ARK divested 20,805 shares of Palantir Technologies. This divestment generated proceeds valued at nearly $4 million.
Year-to-date performance shows Rocket Lab shares climbing roughly 1%. Meanwhile, Palantir has posted gains of approximately 7% over the identical timeframe.
Rocket Lab Secures Major Launch Agreement and Expands Revenue Rocket Lab achieved a milestone by securing its most substantial commercial contract for the Electron launch vehicle. The agreement encompasses 20 additional launches for Japanese firm Synspective.
This expansion brings Synspective’s total mission count with Rocket Lab to 47. The robust pipeline provides enhanced revenue visibility for the aerospace company.
Rocket Lab delivered second-quarter revenue of $234 million, representing a 62% year-over-year increase compared to the prior-year period.
Development continues on the company’s Neutron launch vehicle. Additionally, Rocket Lab is pursuing the proposed acquisition of satellite communications provider Iridium Communications.
Wall Street sentiment toward Rocket Lab remains predominantly bullish. Among 16 covering analysts, 14 maintain Buy ratings while 2 assign Hold recommendations.
The consensus price target stands at $110.07 for Rocket Lab shares, implying 56% upside potential from present trading levels.
Palantir Demonstrates Robust Commercial Revenue Acceleration Palantir posted second-quarter revenue of $1.94 billion, marking a 93% surge versus the year-ago quarter. U.S. commercial revenue specifically jumped 149% to $764 million.
The data analytics platform provider executed 220 contracts valued at $1 million or higher throughout the quarter, demonstrating sustained enterprise demand for its software solutions.
Strategic partnerships have expanded Palantir’s ecosystem, including collaborative agreements with Nebius, PwC, and Armada.
Analyst sentiment on Palantir remains favorable, albeit with less enthusiasm than Rocket Lab receives. Out of 22 analysts tracking the stock, 16 recommend Buy, 4 suggest Hold, and 2 advise Sell.
Palantir’s consensus price target registers at $201.74, representing approximately 6% appreciation from current valuation levels.
ARK’s trading activity extended beyond these two positions. The firm acquired shares in BWX Technologies, which manufactures nuclear energy components, totaling roughly $13.6 million in value.
The investment manager also expanded its holdings in Intellia Therapeutics, a biotechnology company focused on gene editing. This transaction was valued at approximately $5 million.
ARK added shares of Veracyte, a company specializing in genomic diagnostic testing, with purchases exceeding $7.3 million.
Regarding divestments, ARK decreased its Alphabet position by selling 101 shares. The firm also eliminated a minor Zillow position valued at roughly $20,000.
These transactions form part of ARK’s standard practice of publishing daily trade disclosures across all its actively managed exchange-traded funds.
Key Highlights SOL currently hovers around $121, experiencing a 4% decline over 24 hours following resistance tests at the $120 level. Alpenglow network upgrade has launched on testnet, targeting transaction finality below 100 milliseconds. September marked a nine-month peak for Solana application revenue, reaching $180 million. Spot Solana ETFs in the United States attracted $271 million during September, marking the strongest 10-month performance. Technical analysts anticipate potential consolidation around $110-$112 before continuation toward $150 levels. As of October 2, Solana is changing hands at approximately $121.63, reflecting a nearly 4% decline over the previous 24-hour period. This retraction occurred after SOL tested the $120 threshold, a key resistance point that previously served as a technical milestone. Current trading activity registers $3.7 billion in volume, representing roughly 5.6% of the token’s circulating supply valuation.
Solana (SOL) Price The downward movement arrives in the wake of U.S. inflation figures that came in below market expectations. Nevertheless, bearish momentum has persisted throughout the cryptocurrency sector during this period.
Market focus has shifted significantly toward the Alpenglow network enhancement. This technical upgrade is currently operational across Solana’s testing and development environments, allowing engineers to evaluate its practical implementation and performance metrics.
Alpenglow’s Technical Impact on Solana Network The Alpenglow enhancement aims to reduce transaction finality from approximately 12 seconds down to sub-100 millisecond timeframes. Initial testing environment data indicates the upgrade may exceed these performance benchmarks.
Should mainnet deployment prove successful, Solana would establish significant throughput superiority compared to Ethereum and BNB Chain. The network would simultaneously offer lower transaction costs than EVM-compatible chains while preserving a more decentralized validator distribution than BNB.
Parallel to technical developments, Solana’s decentralized application ecosystem continues expanding. September’s application revenue totaled $180 million, representing the strongest monthly performance since January and securing Solana’s 32% market share of cross-chain blockchain revenue.
On a single day—September 11—the platform produced approximately $8 million from decentralized application activity. Throughout that same week, decentralized exchange volume reached $16.59 billion, contributing to Solana’s all-time DEX volume surpassing the $3 trillion milestone.
Institutional Investment Flows and Technical Support Zones Investment vehicle adoption has introduced an additional bullish narrative. Spot Solana exchange-traded funds in the United States accumulated $188.2 million in net purchases during the week concluding September 25, representing the second-largest weekly intake since product launches.
Market analyst Ash Crypto drew attention to this pattern explicitly. “$SOL is up +70% in the last 60 days. And the institutional demand is getting harder to ignore. Spot SOL ETFs bought approximately $271M worth of SOL in September — the largest monthly inflow in 10 months,” the analyst noted, suggesting that price action combined with institutional accumulation may drive SOL’s next upward leg.
One particularly strong session on September 26 delivered $86.6 million in single-day inflows, establishing a record for these investment products. Solana’s decentralized finance infrastructure has expanded in tandem, with total value locked exceeding $6.5 billion.
From a technical perspective, SOL achieved a local peak around $126 before entering a series of descending highs. Data from CoinMarketCap positioned the asset near $116.9 on October 1, following settlement prices of $122 on September 27 and $118 on September 28.
Traders are monitoring whether SOL maintains its present support structure. A retracement toward the $110-$112 zone is viewed as a probable consolidation phase preceding any sustained advance toward the $150 objective, which correlates with expectations surrounding Alpenglow’s mainnet activation.
At the most recent update, SOL was valued at $121.85.
Pentagon pověřil Elona Muska, Palmera Luckeyho a Newta Gingriche vedením 120denního přezkumu budoucí války, který má ovlivnit, jaké zbraně budou USA vyvíjet. SpaceX už drží obranné kontrakty za 8 miliard USD.
The Pentagon just handed Elon Musk a role shaping which weapons America builds for the next century, and SpaceX already holds billions in the contracts those decisions will influence.
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On September 30, 2026, Defense Secretary Pete Hegseth appointed Elon Musk, Anduril founder Palmer Luckey, and former House Speaker Newt Gingrich to lead a Pentagon review of future war. The effort, called Project Meridian, is a 120-day study, according to TRT World.
Musk runs SpaceX (NASDAQ:SPCX | SPCX Price Prediction). Its shares fell 1.85% in the October 1 session, to $148.07 on a delayed quote as of 7:59 PM ET. No evidence links that move to the appointment.
What Project Meridian Actually Commits To Final recommendations are due to Hegseth on January 28, 2027. They will come as a public report plus a classified annex. By design, the study stops short of producing new strategy or policy documents, limiting formal weight. The Pentagon’s chief technology officer manages it. It launched alongside a new Autonomous Warfare Command, according to OECD AI Policy Observatory. Budget, staffing and pay terms were not disclosed.
The scope covers AI, autonomy, directed energy, robotics and biotechnology across underground settings to cislunar space. Hegseth said the work should “be focused on discovering, developing, and fielding the weapons and systems that our children and grandchildren will need in their lifetimes, without any creative limitations or restrictions, on any future battlefield.” Palmer Luckey said: “Together, we will not only study the wars being fought today but also think seriously about the wars we cannot afford to fight in 2030, 2050, and 2100.”
What SPCX Holders Are Now Exposed To SpaceX holds $8 billion in defense contracts in 2026, including national security launch services and Starshield, a secure satellite network for government customers. In Q2 2026, Enterprise & Government revenue rose 108% to $1.806 billion. Total quarterly revenue was $7.81 billion.
The stock is up 4.11% over the past month and down 8% since its June 12, 2026 debut. That figure shows the return since listing. Public shareholders now have exposure to a government advisory process that the company’s own CEO helps lead.
Why the Vendor-Advisor Overlap Cuts Both Ways Two co-leads run Pentagon suppliers. Anduril sells jammers, interceptors and autonomous systems under its own contracts. The Guardian reported that the appointments raise conflict-of-interest concerns.
A counterargument: the people who built today’s defense technology typically sell it. Reusable rockets and low-cost autonomy came from commercial builders. Emil Michael said he wants “five more Andurils and Palantirs and SpaceXs”, suggesting the department treats commercial builders as a capability source by design.
Does a Study That Cannot Set Policy Matter? Its influence comes through what gets funded. The FY2027 request calls for $59.7 billion for space capabilities. For SpaceX holders, any near-term business effect remains undefined. Watch after January 28, 2027 whether the public report is released in full and whether the following year’s procurement requests follow its recommendations.
Contact [email protected] for any questions or corrections.
Amazon plánuje během příštích pěti let investovat více než 1 miliardu USD do komunit v USA, kde má datová centra. Součástí jsou i kroky ke zmírnění dopadů na spotřebu elektřiny a vody.
Amazon's (AMZN.O) cloud computing division said on Friday it would invest more than $1 billion over the next five years in US communities where it has data centers and vowed to tackle their impacts on electricity and water usage.
Data centers, which provide the computing power to train and run AI models, have drawn opposition in communities nationwide over concerns about electricity demand, utility costs and other local impacts. The backlash poses a political challenge for Republicans heading into the US midterm elections on November 3.
Amazon said it had invested $276 billion in data centers between 2011 and 2025 and had large projects or expansions in the works in many states including Indiana, Louisiana, North Carolina, Virginia and Mississippi.
Amazon Web Services said the community investment plans announced on Friday would include spending on education, job training, energy affordability, water and energy preservation and other local priorities in parts of the US where it has data centers.
The company in a lengthy statement sought to rebut criticism of data centers tied to environmental, energy and economic impacts and noted there were more than 100 data center moratoriums being considered across the country.
"There is urgency to this data center buildout because we aren’t the only country that sees the benefits of AI for the economy and national security, and the countries that lead in AI will shape it and get the most from it," AWS CEO Matt Garman said.
AWS also committed to being water positive across its data centers by 2030 by returning more water to communities than it uses and said it was 75% of the way toward its goal.
Johnson & Johnson oznámila dvouleté údaje, podle nichž icotrokinra u těžko léčitelné lupénky udržela zlepšení stavu kůže až do 112. týdne bez nových bezpečnostních signálů.
Revolutionary IL-23R targeted oral peptide delivers sustained skin clearance and a favorable safety profile in patients with psoriasis affecting sensitive, highly visible areas of the body 60% of patients with scalp psoriasis and 89% with genital psoriasis achieved site-specific complete skin clearance at Week 112 , /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced new two-year data from the Phase 3 ICONIC-TOTALa study demonstrating the positive impact of ICOTYDE® (icotrokinra) on high-impact plaque psoriasis (PsO) sites. ICOTYDE is the first and only targeted oral peptide that precisely blocks the IL-23 receptor1, in adults and pediatric patients 12 years of age and older (adolescents).
The late-breaking results, shared as an oral presentation at the European Academy of Dermatology and Venereology (EADV) Congress 2026, evaluated adults and adolescents with at least moderate high-impact site involvement. Through Week 112, ICOTYDE demonstrated sustained skin clearance.2
"People with plaque psoriasis that affect high-impact sites deal with severe functional disability and intense daily pain. Even when these affected areas cover a small percentage of the body, they often do not respond to topical creams, limit activity, and degrade mental health due to unrelenting symptoms," said Richard B. Warren, M.D., Ph.D., Professor of Dermatology, University of Manchester.b "These robust two-year data validate that ICOTYDE provides enduring skin clearance with a favorable safety profile, making it a pivotal advancement in plaque psoriasis treatment."
ICOTYDE clinical data highlights2
Among patients treated with ICOTYDE, rates of clear or almost clear skin (Investigator's Global Assessment [IGA] 0/1)c increased from 57% at Week 16 to 67% at Week 24 and 70% at Week 112. At Week 112, high rates of site-specific complete skin clearance were reported among ICOTYDE-treated patients: 60% of patients with scalp psoriasis achieved a scalp-specific Investigator's Global Assessment (ss-IGA)d score of 0; 89% of patients with genital psoriasis achieved a Physician's Global Assessment of Genitalia (sPGA-G)e score of 0; 63% of patients with psoriasis affecting the hands and/or feet achieved a hand and/or foot Physician's Global Assessment (hf-PGA)f score of 0. Nail psoriasis improved over time, with mean percentage improvement in modified Nail Psoriasis Severity Index (mNAPSI)g increasing from 33% at Week 16 to 62% at Week 52 to 71% at Week 112. Safety findings through Week 112 remained consistent with the established safety profile of ICOTYDE, with no new safety signals identified.2 "Availability of long-term data are vital for informing the treatment of plaque psoriasis including particularly challenging areas of the body where conventional treatments may fall short," said David M. Lee, M.D., Ph.D., Global Immunology Therapeutic Area Head, Johnson & Johnson. "These two-year ICOTYDE results empower physicians to treat high-impact sites, knowing that data support sustained clinical outcomes for patients."
Editor's notes:
a. ICONIC-TOTAL evaluates the efficacy and safety of ICOTYDE compared with placebo in participants with at least moderate scalp, genital, and/or hand/foot PsO with once daily ICOTYDE or placebo, with placebo-to-ICOTYDE transition at Week 16.
b. Dr. Warren is a paid consultant for Johnson & Johnson. He has not been compensated for any media work.
c. The Investigator's Global Assessment (IGA) is a five-point scale with a severity score ranging from 0 to 4, where 0 indicates clear, 1 is minimal, 2 is mild, 3 is moderate, and 4 indicates severe disease.3
d. The scalp-specific Investigator's Global Assessment (ss-IGA) is a five-point scale where scalp lesions are assessed in terms of clinical signs of redness, thickness, and scaliness on a severity score ranging from 0 to 4, where 0 indicates absence of disease, 1 is very mild, 2 is mild, 3 is moderate and 4 indicates severe disease.
e. The Physician's Global Assessment of Genitalia (sPGA-G) is a six-point scale used to evaluate the severity of genital psoriasis at a given time point ranging from 0 to 5, where 0 indicates clear, 1 is minimal, 2 is mild, 3 is moderate, 4 is severe and 5 indicates very severe disease.4
f. The Physician's Global Assessment of Psoriasis on the Hands and/or Feet (hf-PGA) assesses the severity of hand and foot psoriasis using a 5-point scale to score the plaques on the hands and feet as: clear (0), almost clear (1), mild (2), moderate (3) and severe (4).5
g. The modified Nail Psoriasis Severity Index (mNAPSI) is a composite score used to assess the severity of nail psoriasis based on features of the nail matrix and nail bed, with scores ranging from 0 to 13 per fingernail, where 0 indicates no nail psoriasis and higher scores indicate greater disease severity.
About the ICONIC clinical development program
The pivotal Phase 3 ICONIC clinical development program includes four studies of ICOTYDE in patients with moderate-to-severe plaque PsO.
ICONIC-LEAD (NCT06095115) is a RCT to evaluate the efficacy and safety of ICOTYDE compared with placebo in participants with moderate-to-severe plaque PsO, with PASI 90 and IGA score of 0 or 1 with at least a 2-grade improvement as co-primary.6 ICONIC-TOTAL (NCT06095102) is a RCT to evaluate the efficacy and safety of ICOTYDE compared with placebo for the treatment of PsO in participants with at least moderate severity affecting special areas (e.g., scalp, genital, and/or hands and feet) with overall IGA score of 0 or 1 with at least a 2-grade improvement as the primary endpoint.7 ICONIC-ADVANCE 1 (NCT06143878) and ICONIC-ADVANCE 2 (NCT06220604) are RCTs to evaluate the efficacy and safety of ICOTYDE compared with both placebo and deucravacitinib in adults with moderate-to-severe plaque PsO.8,9 Additional studies underway include: ICONIC-PsA 1 (NCT06878404) and ICONIC-PsA 2 (NCT06807424) in active psoriatic arthritis; ICONIC-ASCEND (NCT06934226) in moderate-to-severe plaque psoriasis; ICONIC-UC (NCT071196748) in moderately to severely active ulcerative colitis; and ICONIC-CD (NCT7196722) in moderately to severely active Crohn's disease.10,11,12,13,14
About plaque psoriasis
Plaque psoriasis (PsO) is a chronic immune-mediated disease resulting in overproduction of skin cells, which causes inflamed, scaly plaques that may be itchy or painful.15 It is estimated that 8 million Americans and more than 125 million people worldwide live with the disease.16 Nearly one-quarter of all people with plaque PsO have cases that are considered moderate-to-severe.16 Plaques typically appear as raised patches with a silvery white buildup of dead skin cells or scales. Plaques may appear red in lighter skin or more of a purple, gray or dark brown color in patients with darker skin tones. Plaques can appear anywhere on the body, although they most often appear on the scalp, knees, elbows, and torso.17 Living with plaque PsO can be a challenge and impact life beyond a person's physical health, including emotional health, relationships, and handling the stressors of life.18 Psoriasis on highly visible areas of the body or sensitive skin, such as the scalp, hands, feet, and genitals, can have an increased negative impact on quality of life.19
About ICOTYDE® (icotrokinra)
ICOTYDE® (icotrokinra) is the first and only targeted oral peptide designed to precisely block the IL-23 receptor, which underpins the inflammatory response in moderate-to-severe plaque PsO.1,20,21 ICOTYDE binds to the IL-23 receptor with single-digit picomolar affinity and demonstrated potent, precise inhibition of IL-23 signaling in human T cells.22 Clinical significance of these findings is unknown.
ICOTYDE is currently approved in the U.S. for the treatment of moderate-to-severe plaque PsO in adults and pediatric patients 12 years of age and older who weigh at least 40 kg who are candidates for systemic therapy or phototherapy. Patients on ICOTYDE take one pill, once daily upon waking with water on an empty stomach, at least 30 minutes before eating.23
ICOTYDE is also approved in Europe, Japan and China for the treatment of adults and adolescents with psoriasis.
ICOTYDE was jointly discovered and is being developed pursuant to the license and collaboration agreement between Protagonist and Johnson & Johnson. Johnson & Johnson retains exclusive worldwide rights to develop ICOTYDE in Phase 2 clinical trials and beyond, and to commercialize compounds derived from the research conducted pursuant to the agreement against a broad range of indications.24, 25, 26
ICOTYDE is also being studied in active psoriatic arthritis, moderately to severely active ulcerative colitis and moderately to severely active Crohn's disease.10,11,12,13,14
ICOTYDE INDICATION AND IMPORTANT SAFETY INFORMATION
WHAT IS ICOTYDE (icotrokinra)?
ICOTYDE 200 mg is a prescription medicine used to treat moderate to severe plaque psoriasis in adults and children 12 years of age and older who weigh at least 88 pounds (40 kg), who may benefit from taking injections or medicines by mouth (systemic therapy) or treatment using ultraviolet or UV light (phototherapy).
IMPORTANT SAFETY INFORMATION
What is the most important information I should know about ICOTYDE?
Infections. Medicines that interact with the immune system, such as ICOTYDE, may lower your ability to fight infections and may increase your risk of infections. Your healthcare provider may check you for infections and tuberculosis (TB) before starting treatment and may treat you for TB before you begin treatment with ICOTYDE if you have a history of TB or have active TB. Your healthcare provider should watch you closely for signs and symptoms of TB during and after treatment with ICOTYDE.Tell your healthcare provider right away if you have any infection or have symptoms of an infection, including:
fever, sweat, or chills cough shortness of breath blood in your mucus (phlegm) muscle aches warm, red, or painful skin or sores on your body different from your psoriasis weight loss diarrhea or stomach pain burning when you urinate or urinating more often than normal Before taking ICOTYDE, tell your healthcare provider about all of your medical conditions, including if you:
have an infection that does not go away or that keeps coming back. have tuberculosis (TB) or have been in close contact with someone with TB. have recently received or are scheduled to receive an immunization (vaccine). Avoid receiving live vaccines during treatment with ICOTYDE. have kidney problems. are pregnant or plan to become pregnant. It is not known if ICOTYDE can harm your unborn baby.
Pregnancy Safety Study. There is a pregnancy safety study for women who take ICOTYDE during pregnancy. The purpose of this study is to collect information about the health of you and your baby. If you are pregnant or become pregnant during treatment with ICOTYDE, you can report your pregnancy by calling 1-800-526-7736 or visiting www.ICOTYDE.com. are breastfeeding or plan to breastfeed. It is not known if ICOTYDE passes into your breast milk. Talk to your healthcare provider about the best way to feed your baby during treatment with ICOTYDE. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.
What are the possible side effects of ICOTYDE?
ICOTYDE may cause serious side effects. See "What is the most important information I should know about ICOTYDE?"
The most common side effects of ICOTYDE include:
headache nausea cough fungal infection tiredness These are not all the possible side effects of ICOTYDE. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.
How should I take ICOTYDE?
Take ICOTYDE exactly as your healthcare provider tells you to take it. Take ICOTYDE 1 time a day when you wake up on an empty stomach with water. Wait at least 30 minutes after taking ICOTYDE before eating food. If you have difficulty swallowing tablets, ICOTYDE can be dispersed in water. For more information, please read the Medication Guide. If you miss a dose of ICOTYDE, take the dose as soon as you remember and go back to your regular schedule the next day. Please read the full Prescribing Information, including Medication Guide, for ICOTYDE and discuss any questions that you have with your doctor.
cp-564097v2
About Johnson & Johnson
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity.
Learn more at https://www.jnj.com/ or at www.innovativemedicine.jnj.com. Follow us at @JNJInnovMed.
Janssen Biotech, Inc. is a Johnson & Johnson company.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding ICOTYDE (icotrokinra). The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's most recent Annual Report on Form 10-K, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
REFERENCES
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1 Bissonnette R, et al. Data presentation. A phase 2, randomized, placebo-controlled, dose-ranging study of oral JNJ-77242113 for the treatment of moderate-to-severe plaque psoriasis: FRONTIER 1. Presented at WCD 2023, July 3-8.
2 Richard B, et al. Data presentation. Long-term Durability and Safety of the Targeted Oral Peptide Icotrokinra for High-Impact Site Psoriasis: 2-year Findings From the ICONIC-TOTAL Randomized Controlled Trial. Late-breaking research presentation (Abstract #LB-245) at the European Academy of Dermatology and Venereology Congress. September 2026.
3 Langley RG, Feldman SR, Nyirady J, van de Kerkhof P, Papavassilis C. The 5-point Investigator's Global Assessment (IGA) Scale: A modified tool for evaluating plaque psoriasis severity in clinical trials. J Dermatolog Treat. 2015 Feb;26(1):23-31. doi: 10.3109/09546634.2013.865009. Epub 2013 Dec 20. PMID: 24354461. Accessed October 2026.
4 Merola JF, Bleakman AP, Gottlieb AB, et al. The Static Physician's Global Assessment of Genitalia: a clinical outcome measure for the severity of genital psoriasis. J Drugs Dermatol. 2017;16(8):793-799
5 Goldblum O, et al. Validation of the physician's global assessment of psoriasis of the hands and/or feet as a clinical endpoint. J Am Acad Dermatol. 2013:68(4)Supplement1:AB218.
6 Clinicaltrials.gov. A study of JNJ-2113 in adolescent and adult participants with moderate-to-severe plaque psoriasis (ICONIC-LEAD). Identifier NCT06095115. https://classic.clinicaltrials.gov/ct2/show/NCT06095115. Accessed October 2026.
7 Clinicaltrials.gov. A study of JNJ-2113 for the treatment of participants with plaque psoriasis involving special areas (scalp, genital, and/or palms of the hands and the soles of the feet) (ICONIC-TOTAL). Identifier NCT06095102. https://classic.clinicaltrials.gov/ct2/show/NCT06095102. Accessed October 2026.
8 Clinicaltrials.gov. A Study of JNJ-77242113 for the Treatment of Participants With Moderate-to-severe Plaque Psoriasis. Identifier NCT06143878. https://clinicaltrials.gov/study/NCT06143878?term=jnj-77242113&rank=10. Accessed October 2026.
9 Clinicaltrials.gov. A Study of JNJ-77242113 for the Treatment of Participants With Moderate-to-severe Plaque Psoriasis (ICONIC-ADVANCE 2). Identifier NCT06220604.
10 Clinicaltrials.gov. A Study to Evaluate the Efficacy and Safety of JNJ-77242113 (Icotrokinra) in Biologic-naïve Participants With Active Psoriatic Arthritis (ICONIC-PsA 1). Identifier NCT06878404. https://clinicaltrials.gov/study/NCT06878404. Accessed October 2026.
11 A Study to Evaluate the Efficacy and Safety of Icotrokinra (JNJ-77242113) in Biologic-experienced Participants With Active Psoriatic Arthritis (ICONIC-PsA 2). Identifier NCT06807424. https://clinicaltrials.gov/study/NCT06807424. Accessed October 2026.
12 Clinicaltrials.gov. A Study to Assess Efficacy and Safety of JNJ-77242113 Compared to Placebo and Ustekinumab in Participants With Moderate-to-severe Plaque Psoriasis (ICONIC-ASCEND). Identifier NCT06934226. https://clinicaltrials.gov/study/NCT06934226. Accessed October 2026.
13 Clinicaltrials.gov. A Protocol of Icotrokinra Therapy in Adult and Adolescent Participants With Moderately to Severely Active Ulcerative Colitis (ICONIC-UC). Identifier NCT07196748. https://clinicaltrials.gov/study/NCT07196748. Accessed October 2026.
14 Clinicaltrials.gov. A Study of Icotrokinra in Participants With Moderately to Severely Active Crohn's Disease (ICONIC-CD). Identifier NCT07196722. https://clinicaltrials.gov/study/NCT07196722. Accessed October 2026.
15 National Psoriasis Foundation. About Psoriasis. Available at: https://www.psoriasis.org/about-psoriasis. Accessed October 2026.
16 National Psoriasis Foundation. Psoriasis Statistics. Available at: https://www.psoriasis.org/content/statistics. Accessed October 2026..
17 National Psoriasis Foundation. Plaque Psoriasis. Available at: https://www.psoriasis.org/plaque/. Accessed October 2026.
18 National Psoriasis Foundation. Life with Psoriasis. Available at: https://www.psoriasis.org/life-with-psoriasis/. Accessed October 2026..
19 National Psoriasis Foundation. High Impact Sites. Available at: https://www.psoriasis.org/high-impact-sites/. Accessed October 2026..
20 Razawy W, et al. The role of IL‐23 receptor signaling in inflammation‐mediated erosive autoimmune arthritis and bone remodeling. Eur J Immunol. 2018 Feb; 48(2): 220–229.
21 Tang C, et al. Interleukin-23: as a drug target for autoimmune inflammatory diseases. Immunology. 2012 Feb; 135(2): 112–124.
22 Pinter A, et al. Data Presentation. JNJ-77242113 Treatment Induces a Strong Systemic Pharmacodynamic Response Versus Placebo in Serum Samples of Patients with Plaque Psoriasis: Results from the Phase 2, FRONTIER 1 Study. Presented at EADV 2023, October 11-14.
23 ICOTYDE® prescribing information.
24 Protagonist Therapeutics. Press release. Protagonist Therapeutics announces amendment of agreement with Janssen Biotech for the continued development and commercialization of IL-23 antagonists. Available at: https://www.prnewswire.com/news-releases/protagonist-therapeutics-announces-amendment-of-agreement-with-janssen-biotech-for-the-continued-development-and-commercialization-of-il-23-antagonists-301343621.html. Accessed October 2026.
25 Protagonist Therapeutics. Press release. Protagonist Reports positive results from Phase 1 and pre-clinical studies of oral Interleukin-23 receptor antagonist JNJ-2113. Available at: https://www.prnewswire.com/news-releases/protagonist-reports-positive-results-from-phase-1-and-pre-clinical-studies-of-oral-interleukin-23-receptor-antagonist-jnj-2113-301823039.html. Accessed October 2026.
26 Protagonist Therapeutics. Press release. Protagonist Therapeutics announces positive topline results for Phase 2b FRONTIER 1 clinical trial of oral IL-23 receptor antagonist JNJ-2113 (PN-235) in psoriasis. Available at: https://www.prnewswire.com/news-releases/protagonist-therapeutics-announces-positive-topline-results-for-phase-2b-frontier-1-clinical-trial-of-oral-il-23-receptor-antagonist-jnj-2113-pn-235-in-psoriasis-301764181.html. Accessed October 2026.
ExxonMobil ve 2. čtvrtletí 2026 vrátil akcionářům 9,4 miliardy USD: 4,3 miliardy USD na dividendách a 5,1 miliardy USD prostřednictvím zpětného odkupu akcií.
With more than one century of paying dividends under its belt, it's difficult to argue that ExxonMobil (XOM +0.66%) isn't dedicated to returning capital to investors.
But it's not only dividends that the company embraces to reward shareholders -- ExxonMobil is also committed to buying back shares in 2026. Let's take a look at how the company chose to return $9.4 billion in capital to shareholders in the second quarter of 2026.
Image source: Getty Images.
$9.4 billion returned to investors, and there's still more coming through the rest of the year One of the largest energy companies by market cap, according to recent research from The Motley Fool, ExxonMobil generated an impressive $26.1 billion in free cash flow in 2025. Of that, the company returned $17.2 billion in dividends to shareholders and bought back $20 billion in stock.
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Little has changed so far in 2026 -- nor will it likely change if the company adheres to its guidance.
In Q1 2026, ExxonMobil returned $4.3 billion to shareholders in dividends and bought back $4.9 billion of stock. More recently, in Q2 2026, ExxonMobil returned $4.3 billion to investors through dividends and $5.1 billion through share buybacks.
Management has projected share repurchases totaling $20 billion for 2026, and it seems likely that the company will boost its dividend higher in the coming months when it reports third-quarter 2026 financial results.
Drilling down deeper into ExxonMobil's dedication to dividends While ExxonMobil's history of paying a dividend for more than a century is remarkable, it's only part of the story. The company also deserves recognition for its streak of hiking its payout higher for 43 consecutive years, a feat that distinguishes it from many of its dividend-paying peers.
Over the past four decades, management has proven adept at balancing the company's financial health with rewarding shareholders, a dynamic that will likely persist in the coming years. For income investors seeking an energy stock to help fuel their passive income streams, ExxonMobil stock is a worthy consideration.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Americký zákonodárce vyzval společnost Starbucks, aby okamžitě zavřela první dvě provozovny v čínském Sin-ťiangu. Označil to za morálně bankrotující rozhodnutí.
A US lawmaker has called on Starbucks (SBUX.O) to close its first stores in China's Xinjiang, calling it a "morally bankrupt decision" to do business in a region where Uyghurs face repression.
China denies widespread accusations of abuses of the Uyghurs, a mainly Muslim ethnic minority, saying its policies in the far-western region were aimed at combating terrorism, separatism and religious extremism.
Starbucks opened its first two stores this week in Xinjiang's capital, Urumqi, including one at the city centre's Grand Bazaar and a second at its international airport.
John Moolenaar, chairman of the Select Committee on China of the House of Representatives, called on Starbucks to "immediately reverse course and close its stores".
"This is a shocking and morally bankrupt decision by a company that prides itself on social responsibility," he said in a statement published on Thursday.
"There is no justifiable reason for an American company to do business in a region where the CCP (Chinese Communist Party) has detained more than a million Uyghurs and is stripping them of their faith, language, and culture."
Responding to a request for comment, China's Foreign Ministry said the US allegations of repression in the region were "naked lies" and that Xinjiang enjoyed "stable society, economic growth, racial unity and religious harmony".
China would offer more investment opportunities for foreign enterprises, the ministry added.
Starbucks did not respond to requests for comment. China is in the middle of its week-long national day holiday.
On the company's official WeChat platform this week, China Chief Executive Officer Liu Wenjuan said it would continue to invest in Xinjiang.
Pictures of the stores posted on the platform showed Starbucks' logo in English and Chinese. There were no obvious images of any Uyghur-language signs. Uyghur is written in an Arabic-based script and is meant to enjoy official parity in Xinjiang.
In April 2026, Starbucks finalised its China joint venture by bringing in a strategic investor, Boyu Capital, as its 60% stakeholder. The joint venture operates about 8,000 outlets in China.
Akcie Moderny vzrostly v předobchodním obchodování o více než 2 % poté, co Nasdaq oznámil, že společnost bude od 9. října před otevřením trhu zařazena do Nasdaq-100 a nahradí Warner Bros. Discovery. Citi ale akcie snížila na Sell.
Moderna stock NASDAQ:MRNA rose more than 2% in early premarket trading on Friday after Nasdaq said the biotech company will join the Nasdaq-100 next week, creating new demand from index-tracking funds.
The move follows a spectacular 2026 rally that has pushed Moderna more than 500% higher and transformed it from a post-pandemic recovery story into an oncology bet.
Yet Wall Street remains divided, as Citi downgraded Moderna to Sell this week, arguing that optimism around its personalised cancer vaccine has run too far ahead of the evidence.
Nasdaq-100 entry creates a new buyerNasdaq said Moderna will replace Warner Bros. Discovery in the Nasdaq-100 before markets open on October 9.
The benchmark covers 100 large non-financial Nasdaq companies and is tracked by more than 200 investment products with over $800 billion globally.
That creates a mechanical distinction in Moderna’s rally.
Investors buying the stock because of its cancer pipeline are making a fundamental call on future revenue.
Funds that track or benchmark themselves against the Nasdaq-100, however, may need to add Moderna simply because the company is entering the index.
That helps explain Friday’s 2% premarket gain even though the underlying valuation debate has not changed overnight.
Index inclusion can support near-term demand, but it does not settle what the business is ultimately worth once rebalancing flows have passed.
Citi says the cancer story is already priced inCiti analyst Geoff Meacham downgraded Moderna to Sell from Neutral on September 30 while raising his price target to $80 from $60.
His central objection is valuation. “We struggle to justify the valuation through public-company comparisons or pipeline NPV,” Meacham wrote, according to Investing.com.
Citi said Moderna’s market value had moved close to Regeneron’s despite lower expected revenue and earnings.
Even assuming a 100% probability of success for Intisermin’s leading programmes, Citi supported only about $100 per share.
The bank also estimated that a share price around $200 would require roughly $26 billion in annual oncology sales, with approximately half going to Moderna and the remainder to partner Merck. That is nearly seven times Citi’s own forecast.
The contradiction is unusually sharp. Nasdaq-linked funds may soon have to buy Moderna regardless of valuation, while one of Wall Street’s most bearish analysts believes fundamental investors should be doing the opposite.
The bull case starts with the Phase 3 INTerpath-001 study.
Moderna and Merck said intismeran, combined with Keytruda, met its primary recurrence-free-survival endpoint and a key secondary endpoint in high-risk melanoma.
The result gave investors their clearest evidence yet that Moderna’s mRNA technology can create a meaningful commercial franchise beyond infectious-disease vaccines.
William Blair analyst Myles Minter upgraded Moderna to Outperform after the result, saying the company now has “a clear line of sight to revenue diversification from the COVID business”.
That is the strongest answer to Citi’s caution.
But the debate remains unsettled. Rothschild & Co Redburn analyst Simon Baker called the Phase 3 result “undoubtedly good” while arguing the share-price reaction was overexuberant because melanoma success does not prove Moderna can reproduce it across other tumour programmes.
That leaves two competing valuation frameworks. One treats intismeran as the beginning of a broad oncology platform, while the other sees one major clinical success being extrapolated too aggressively.
Nasdaq-100 inclusion now adds another layer to that argument. Passive funds may soon have little choice but to own Moderna, while fundamental investors remain split over how much cancer-vaccine success is already embedded in the price.
Pfizer uvedl, že je „extrémně“ přesvědčen o udržení dividendy; v posledním čtvrtletí mu provozní tržby nově uvedených a převzatých produktů vzrostly o 18 %.
If you've been looking for high-yield stocks, Pfizer (PFE -1.40%) may have crossed your radar screen. As shares of the pharma giant slipped over the past few years, its dividend yield marched higher, and in recent times, settled at 6%.
High dividend yields are great, but the pattern of a dividend yield rising as the stock price falls could be a warning sign. That's because a declining stock price may signal business troubles. This, in and of itself, is negative, but it also suggests that, if the financial situation is rough, the company may not be able to maintain its dividend.
In the case of Pfizer, the pharma giant has indeed faced difficult times over the past few years. Demand for its coronavirus products has been on the decline from early pandemic levels, and the company lost exclusivity on a number of blockbusters. The company launched a cost realignment plan, which was positive news, but such plans take time, and it's not guaranteed that the most important goals will be met.
So, you might not have rushed into Pfizer stock, even if you like high-dividend players. Now, here's why Pfizer's 6% dividend yield might finally be worth the risk.
Image source: Getty Images.
The Pfizer of the past First, let's back up a bit and consider the Pfizer of a few years back. The company offers a broad portfolio of drugs across treatment areas, but it soared onto center stage thanks to its coronavirus vaccine and treatment. These products helped Pfizer reach a record of more than $100 billion in annual revenue back in 2022. But in the later days of the pandemic, as demand declined, the company's revenue fell significantly, and it became clear that the coronavirus portfolio wouldn't return to its earlier revenue levels.
Meanwhile, Pfizer was preparing to lose exclusivity on blockbusters including immunology drug Xeljanz and blood thinner Eliquis.
To combat these negative elements, Pfizer put into place a plan to realign costs with the revenue opportunity in the coronavirus space, and the company focused on pipeline development and growth through acquisition. Pfizer experienced its biggest wave of regulatory approvals over an 18-month period spanning 2023 and 2024. In 2023 alone, Pfizer won seven approvals across treatment areas.
Pfizer also completed the acquisition of oncology company Seagen in late 2023, a move that brought it four commercialized drugs and a fresh pipeline to potentially lead to future products. In the latest earnings call, Pfizer called the acquisitions of Seagen, cardiometabolic company Metsera, and migraine specialist Biohaven "transformative opportunities."
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Pfizer's commitment to its dividend As Pfizer began this transition into new drug launches and acquisitions and started to trim its costs, risk was high, and investors may have worried whether the company would even temporarily halt dividend payments. But in recent times, Pfizer has offered us reasons for optimism.
First, it's unlikely that the company will cut its dividend. In the recent earnings call, chief Albert Bourla, when asked about the possibility, said: "We feel extremely confident that we will -- even the most stretched scenarios that we are running, we will be able to maintain our dividend."
In the latest quarter, select recently launched and acquired products posted an 18% operational revenue gain, and the company lifted annual revenue guidance by $500 million at the midpoint to the range of $60.5 billion to $62.5 billion. The pharma powerhouse expects several trial readouts in the coming 12 months and says it's on track to return to growth as of 2029.
Pfizer shares have started to recover, delivering a 15% gain so far this year, and that's helped push valuation higher. Still, at 9.6x forward earnings estimates, the stock remains reasonably priced. Meanwhile, the company has expressed its commitment to rewarding shareholders with dividends, and continues to pay $1.72 per share, representing a yield of 6%.
Pfizer's progress along the recovery path and its focus on maintaining its dividend have significantly reduced risk for investors, making now a great time to get in on this high-yield player.
Micron plánuje od 9. prosince 2026 výrazně zvýšit kapitálové výnosy a časem vracet akcionářům 100 % přebytečné hotovosti, hlavně přes buybacky. Při současné hotovosti by to mohlo ročně stáhnout asi 5 % akcií.
Micron Technology (MU +3.03%) is making cash much faster than it's spending it. The memory chipmaker's non-GAAP (adjusted) free cash flow was $62.3 billion for its fiscal year that ended Sept. 3 -- up from $3.7 billion in fiscal 2025. But the company spent just $650 million of it buying back its own shares.
Alongside its fiscal fourth-quarter results on Wednesday, Sept. 30, Micron said it plans to increase capital return starting Dec. 9. Over time, it intends to give all its excess cash back to shareholders.
Shares trade near $1,065 as I write, giving the company a market cap of about $1.2 trillion. How much of Micron could a buyback that large retire?
Image source: Micron.
A cash pile that keeps growingShowing how fast the cash is coming in, Micron's adjusted free cash flow (cash from operations minus net capital spending) was $33.2 billion in the fiscal fourth quarter, the final three months of the year. This compares to $18.3 billion in fiscal Q3 and just $803 million in the year-ago quarter. Revenue climbed 379% year over year to $54.2 billion, and net income surged almost 12-fold to $37.7 billion. In other words, the fourth quarter alone brought in over half of the year's free cash flow -- an impressive acceleration even for this memory boom.
Most of the cash still sits on the balance sheet. Micron finished the year with $73.5 billion in cash and investments against $5.2 billion in debt, leaving net cash of $68.3 billion.
Capital return, meanwhile, hardly registered. The $650 million buyback came to around 1% of the year's free cash flow.
And Micron spent more (about $1.1 billion) withholding shares from employees' stock awards to pay their taxes. Even with both, the diluted share count climbed around 1.4% year over year in the fourth quarter. And as of May 28, just $2.16 billion was left on the company's current repurchase authorization.
Why wait until December?The timing seems linked to Micron's federal CHIPS Act funding. The company's latest quarterly filing says its buyback authorization is subject to restrictions under its CHIPS Act direct funding agreements. And chief financial officer Mark Murphy pegged the bigger return to Dec. 9, 2026, the second anniversary of the signing of those agreements.
"Over time, we expect to return 100% of our excess cash to shareholders," Murphy said in his prepared remarks for the earnings call.
Later in the call, Murphy said Micron expects to be near its target cash level by the end of this fiscal quarter. He added that the excess would go back to shareholders mainly through buybacks, and that the company expects to seek a bigger authorization soon.
Notably, management hasn't said what that target cash level is.
The cash could retire around 5% of the stock a yearBecause management hasn't defined "excess cash," I'll use fiscal 2026's adjusted free cash flow as a stand-in, assuming Micron's cash already sits near the level it wants to hold.
At around $1,065 a share, $62.3 billion would buy back about 58 million shares in one year. That comes to around 5% of the roughly 1.13 billion shares Micron had outstanding in June.
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I'd be more careful adding the $68.3 billion of net cash on top of that. Around $12.7 billion of Micron's cash is customer deposits linked to its long-term supply agreements, and the company expects to return that money to customers over time.
Free cash flow also faces a bigger spending plan. Micron expects around $25 billion of capital expenditures in just the first half of fiscal 2027, near the $27.4 billion of net capital spending in all of fiscal 2026. Still, Murphy said fiscal Q1 free cash flow should be much higher than the fourth quarter's $33.2 billion.
Of course, the price Micron pays matters, too. With the stock at about 14 times earnings, based on fiscal 2026 results, every dollar spent on shares buys about 7 cents of last year's profit. That price is arguably appealing if memory prices hold, but it might look expensive if fiscal 2026 ends up being a peak.
In the end, retiring roughly 5% of the share count a year would probably give earnings per share a steady boost. But that depends on memory prices staying near today's levels, and the higher spending doesn't begin until December. For now, I'd count the buyback as another point in Micron's favor and wait to see the share count drop.
