Track market-moving stories before they get noisy

Pump.fun, the Solana-based platform that turned meme coin launching into a one-click affair, is now searching for a chief legal officer. The price tag: a base salary between $1 million and $5 million, plus commission and bonuses.

The CLO role covers an almost comically broad legal surface area. SEC oversight in the US, MiCA compliance in Europe, and UK regulatory frameworks all fall under the position’s umbrella.

Pump.fun operates under Baton Corporation Ltd, a UK-registered entity that launched the platform in January 2024. In the roughly 18 months since, the company has generated approximately $800 million in revenue from trading and graduation fees. It currently processes over $300 million in daily transaction volume.

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Multiple class-action lawsuits have been filed against Baton Corporation since January 2025. The core allegation across these cases is that tokens launched on Pump.fun qualify as unregistered securities. One notable case, Aguilar v. Baton Corporation, puts the controversial nature of meme coin regulation front and center.

The platform also got hit with a user ban in the UK back in December 2024. Accusations of pump-and-dump schemes associated with meme coins launched on the platform have further complicated its legal posture.

In July 2025, Pump.fun raised approximately $1.3 billion through the initial coin offering of its native PUMP token. That figure broke down to roughly $600 million in public sales and about $720 million from private funding.

The PUMP token saw significant volatility following its ICO launch. Pump.fun has enabled the launch of millions of meme tokens since its inception.

For PUMP token holders and active users of the platform, the outcomes of the ongoing class-action lawsuits could be defining. If courts determine that tokens launched via Pump.fun are unregistered securities, the ripple effects wouldn’t stop at Baton Corporation’s door. The Aguilar lawsuit and the UK ban are early indicators of a coordinated, multi-jurisdictional pressure campaign.

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

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June 17, 2026

Aster DEX just handed its tokenomics a structural overhaul, and its crypto token rockets. The announcement redirecting 99% of daily platform fees into automatic ASTER buybacks sent the token up over 10% on the day.

Under the upgraded model, Aster executes TWAP buybacks across each day, settling on-chain to a public wallet. For every token repurchased, an equal amount is permanently burned from reserves, starting with team allocations.

[Tokenomics Update] $ASTER Buyback and Burn Steps Up to 198%

Aster is upgrading its buyback so the platform's own activity both rewards stakers and sets $ASTER on a deflationary path.

Starting from 12:00 PM UTC today, 99% of Aster's daily platform fees buy back $ASTER. An equal…

— Aster 🥷 (@Aster_DEX) June 17, 2026 All bought-back tokens flow directly into Loyalty Rewards, stacked atop the existing 300,000 $ASTER base pool and distributed proportionally to veASTER lock weight. The protocol has already completed over $214 million in cumulative buybacks, reclaiming more than 143.38 million ASTER (7.11% of supply) in under a month.

Aster has drawn consistent comparisons to Hyperliquid as institutional capital rotates toward on-chain derivatives infrastructure, making this tokenomics upgrade more than a housekeeping move. It’s a direct competitive signal.

Discover: The Best Crypto to Diversify Your Portfolio

Can ASTER Crypto Break $1?Before the crypto announcement, ASTER was trading in a tight range, consolidating under $0.7 after a brief spike to $0.76 months ago, a level it failed to hold. The token broke a short-term downtrend line in the lead-up to the announcement, posting a 12% rally in less than 2 hours, but resistance near $0.75 has rejected the price twice.

Support is long gone; it was clustered in the $0.63 demand zone, where every sell pressure has been absorbed. The 30-period moving average sits near $0.65, acting as a short-term floor. RSI hovering near 61 signals moderate bullish momentum.

For its crypto holders, daily buybacks of $2–3 million would compress supply steadily, and unlock pressure from the locked airdrop wallet might be absorbed. If all those happen, ASTER could clear $1 to open a path toward $1.50 once again.

Discover: The Best Token Presales

Bitcoin Hyper Eyes Early-Stage Entry as ASTER Tests Structural ResistanceASTER’s 10% pop on strong tokenomics news underscores a familiar dynamic: the market rewards supply-side discipline, but established tokens with billions of market cap face a different risk/reward than early-stage entries. At this market cap, the multiple is compressed. The asymmetry has already been partially priced. That’s exactly where traders with a different time horizon start looking elsewhere.

Bitcoin Hyper ($HYPER) is a Bitcoin Layer 2 presale building what it bills as the first-ever BTC L2 with Solana Virtual Machine (SVM) integration, targeting sub-second finality on top of Bitcoin’s security layer. The pitch directly addresses Bitcoin’s three structural constraints: slow throughput, high fees, and limited programmability.

Hard numbers: presale price sits at $0.0136, total raised has crossed $32.8 million, and staking carries a high APY for early lockers. The Decentralized Canonical Bridge handles native BTC transfers without custodial wrapping. The DEX token game might be too late to enter, and Bitcoin layer 2 could be the next narrative.

Research Bitcoin Hyper before the next stage closes.

TLDR: Aster now directs 99% of daily platform fees toward ASTER buybacks and staking rewards distribution. Each ASTER purchased through buybacks triggers an equal token burn from reserve holdings. The burn program starts with team allocations and targets a supply reduction to 3 billion ASTER. Permissionless listing fees also fund ASTER purchases that boost veASTER staking rewards. Aster has expanded its ASTER buyback program with a new mechanism that links platform revenue to both staking rewards and token burns. The update directs nearly all daily platform fees toward buying ASTER from the market while removing an equal amount of tokens from reserves. 

The changes took effect at 12:00 PM UTC and introduce a new deflationary element to the token’s economic model. The move also increases reward allocations for veASTER stakers through daily buyback distributions.

ASTER Buyback Program Redirects Platform Revenue to Stakers According to information shared by Aster on X, 99% of the platform’s daily fees will now fund ASTER buybacks.

The purchased tokens will not return to circulation through treasury holdings. Instead, Aster will allocate them directly to veASTER stakers.

The platform said each epoch will include the existing 300,000 ASTER Loyalty Rewards allocation. Daily buyback amounts will be added on top of that base reward pool.

Reward distribution will continue through the veASTER system. Users receive allocations according to their lock weight within the staking structure.

Aster also stated that buybacks will execute automatically through a time-weighted average price process. The purchases occur throughout the day before settling on-chain.

The company published a dedicated buyback wallet address. That wallet allows users to verify transactions and monitor purchases independently.

The update extends beyond trading revenue. Aster noted that every permissionless token listing on Aster Spot requires a 50,000 USDT fee.

Those listing fees will also support ASTER purchases. The acquired tokens will enter the staking reward system as additional distributions.

[Tokenomics Update] $ASTER Buyback and Burn Steps Up to 198%

Aster is upgrading its buyback so the platform's own activity both rewards stakers and sets $ASTER on a deflationary path.

Starting from 12:00 PM UTC today, 99% of Aster's daily platform fees buy back $ASTER. An equal…

— Aster 🥷 (@Aster_DEX) June 17, 2026

ASTER Burn Plan Targets Supply Reduction to 3 Billion Tokens Alongside the buyback expansion, Aster introduced a matching burn mechanism tied directly to daily purchases.

For every ASTER token bought through platform fees, the project will burn an equal amount from reserve holdings. The burn operates on a one-to-one basis.

According to Aster, the process begins with tokens allocated to the team reserve. The project launched with a total supply of 8 billion ASTER.

The burn program will continue until total supply reaches 3 billion tokens. That target would remove 5 billion tokens from circulation over time.

Aster stated that both the buyback and burn process remain publicly visible. Users can verify activity through the published wallet addresses and on-chain records.

The update creates a direct link between platform activity and token supply changes. Higher platform usage increases buyback volume while triggering corresponding burns.

The mechanism marks one of the largest token supply reduction targets disclosed by the project since launch. It also formalizes a system that combines staking incentives with ongoing supply contraction.

Aster climbs as DEX rolls out 198% buyback and burn update

ASTER has surged more than 20% after Aster unveiled a new tokenomics framework that commits almost all platform fee revenue to daily token buybacks and large-scale supply reductions.

Summary

ASTER surged over 20% after Aster committed 99% of platform fees to daily token buybacks. Aster plans to cut ASTER supply from 8 billion to 3 billion through ongoing reserve burns. Technical indicators turned bullish as ASTER broke above $0.65 and approached resistance near $0.81. According to a June 17 X post by Aster, 99% of the protocol’s daily fees will now be used to purchase ASTER from the open market beginning June 17 at 12:00 PM UTC. The announcement pushed the token close to $0.80 before some profit-taking emerged, with ASTER later changing hands near $0.74, up roughly 13% over the past day.

The update introduces a second layer of supply reduction alongside the buybacks. Aster said it will remove an equal amount of ASTER from reserve holdings each day, creating what the protocol described as a 198% combined buyback-and-burn effect.

Reserve reductions will begin with the team allocation and continue until the total token supply falls from 8 billion ASTER to 3 billion.

Additional demand could also come from Aster Spot. According to the protocol, every permissionless token listing on the platform will require a 50,000 USDT fee, with all proceeds earmarked for further ASTER buybacks that will be distributed to stakers through the rewards program.

Platform fees now drive ASTER rewards Rather than destroying purchased tokens, Aster said the acquired ASTER will be distributed to participants in its Loyalty Rewards program.

Under the revised model, each reward epoch will include a fixed allocation of 300,000 ASTER plus all tokens accumulated through daily buybacks.

Distribution will be directed to veASTER holders according to lock-weighted participation. Aster added that all buybacks will be executed through an automated daily time-weighted average price process and settled on-chain. To increase transparency, the project has also published the wallet address used for the purchases, allowing users to verify transactions independently.

By linking fee generation directly to token purchases, staking rewards and reserve reductions, the protocol has created a mechanism where higher trading activity results in larger buybacks and larger reward distributions.

Technical breakout places $0.81 resistance in focus Market participants responded quickly to the announcement, driving ASTER above a trading range that had largely contained price action since April. On the daily chart, the token broke through support-turned-resistance near $0.65 and climbed toward the next major barrier around $0.81.

Aster daily price chart — June 18 | Source: crypto.news The daily chart also showed strengthening momentum indicators following the move. ASTER’s Relative Strength Index rose above 65, while the MACD produced a bullish crossover accompanied by expanding positive histogram bars, signaling stronger buying pressure.

The $0.81 region remains an important level because it coincides with several prior rejection points visible on the daily chart. A successful break above that zone could expose the token to areas not tested since late 2025, while traders may look for the former resistance near $0.65 to act as support if the rally pauses.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Table of contents

Aster, the trading and settlement platform, has just flipped the script on its token economics in a way that could directly reshape supply dynamics for its native token ASTER. Instead of incremental adjustments, the protocol has committed to a sweeping redistribution of value that ties nearly all its platform revenue to buybacks and staking rewards.

According to the original report from WuBlockchain, the overhaul took effect on June 17 at 12:00 UTC. Under the new mechanism, 99% of daily platform fees will be automatically used to purchase ASTER from the open market. Simultaneously, an equal amount of ASTER will be burned from the project’s reserves, with the team allocation being the first to be sacrificed. This dual action — buyback and burn — is set to continue biweekly until the total token supply shrinks from 8 billion to 3 billion.

What makes this burn sequence particularly notable is that it starts with the team’s own holdings. In an environment where insider allocations often survive untouched, Aster is putting its treasury on the line first. The biweekly burns will gradually erode the team’s reserve, aligning incentives with users who might otherwise worry about lingering sell pressure from project insiders.

Where the Fees Go Instead of simply destroying the tokens bought with platform fees, Aster has chosen to redirect them to loyal stakers. Every ASTER token purchased through the buyback is distributed to veASTER holders as Loyalty Rewards, weighted by lock duration and amount. This shifts the value from one-time burns to sustained distribution to the community members who commit their tokens long-term.

The decision to pair a massive burn with a staking reward mechanism creates a dual pressure: the circulating supply contracts while the incentive to lock tokens intensifies. For a platform that relies on spot trading volume, this could translate into deeper liquidity and a more stable holder base over time.

Another change worth watching is the introduction of a fixed 50,000 USDT fee for each permissionless listing on Aster Spot. That entire fee will be used to buy back ASTER, adding a direct line from listing activity to staking rewards. It means that every new trading pair — whether a community-driven meme token or a mid-cap altcoin — feeds the same loop. The more listings, the stronger the buying pressure.

Supply Reduction: What 8 Billion to 3 Billion Means A 62.5% supply cut doesn’t just reduce the denominator in market cap calculations. It fundamentally changes how the protocol distributes value across its remaining holders. If platform usage stays constant or grows, the fee buyback will target a shrinking pool of tokens, potentially amplifying the price impact of each buyback event.

However, the speed of the supply reduction depends on daily fee generation. Aster hasn’t disclosed its fee revenue history, so the timeline remains unclear. If daily volumes are low, the burn may take years. If the spot market sees high listing activity and natural trading demand, the 3 billion target could arrive faster than expected. That variable is one of the biggest uncertainties for anyone evaluating the token right now.

What veASTER Stakers Should Know The Loyalty Rewards system isn’t a simple airdrop. Rewards are based on lock weight, meaning that short-term lockers get less, while those willing to lock tokens for extended periods receive a proportionally larger share. This mechanism, common in veTokenomics models, aims to reduce short-term speculation and encourage conviction. For ASTER, it means the circulating supply might become stickier as more holders opt for longer locks to maximize their cut of the fee-derived rewards.

One open question is how the reward distribution will handle the dual-token dynamic. Since rewards are distributed as ASTER, stakers who receive them may face a decision: compound by locking more into veASTER or sell into the market. If the latter becomes prevalent, some of the buying pressure from fees could be offset. Still, the forced burn from reserves provides a separate, independent contraction force that doesn’t rely on holder behavior.

The model echoes a growing trend in DeFi where protocols are moving away from emission-based rewards toward revenue-sharing mechanisms that tie token demand directly to platform usage. By committing 99% of fees to buybacks, Aster joins a small group of projects that have effectively eliminated treasury extraction and redirected everything back to token holders. That level of commitment can draw attention but also sets a high bar for delivery.

The next few weeks will reveal whether the market rewards this aggressive shift. Traders will likely monitor on-chain data for the frequency and size of the first few burn events, as well as any uptick in veASTER locking. If the token veers too far from the scheduled burn pace, questions about real platform fees could surface. For now, Aster has drawn a stark line: tokenomics built on immediate, tangible returns rather than vague promises.

AUTHOR

Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.

PANews, June 18 – FlashRescue co-founder @DarcyAri posted on X platform stating that an investigation found that after Aster issued an announcement yesterday regarding "upgrading the token economic model and increasing the buyback and burn ratio to 198%," a transit address downstream of the Aster Treasury address separately transferred 12.91 million ASTER (currently worth approximately $8.75 million) to a Binance-labeled address.

Author: PA一线

This content is for market information only and is not investment advice.

Summary

Aster’s ASTER token surged more than 10% Wednesday after the token announced a massive buyback and burn program.The rally faded as a hawkish Federal Reserve decision pressured risk assets, leaving ASTER trading around 68 cents, down about 5% on the day at press time. Decentralized perpetuals-dedicated exchange Aster's native token ASTER popped and dropped sharply in 24 hours as protocol-focused bullish news ran into a hawkish Fed meeting and broader market weakness.

ASTER jumped over 10% to 80 cents on Wednesday hitting the highest level since January, according to CoinDesk Data, following the protocol's announcement of a new initiative under which it commits 99% of daily platform fees to an automated buyback program. Think of it as using your firm's revenue to buy back shares in your own company.

The announcement added that all tokens purchased through this mechanism are distributed as rewards to veASTER holders. veASTER is a non-transferable governance and reward token obtained by locking native ASTER tokens, granting holders platform fee revenue, voting power, and trading discounts on the Aster DEX.

Every buyback triggers an equal burn from the protocol’s reserve to further reduce supply. These bi-weekly burns will continue until the total supply reaches a target of 3 billion tokens. As of now, ASTER's total supply is 7.82 billion tokens.

The upgrade marks a shift away from the protocol's previous linear vesting model, in which tokens were auto-released to market regardless of demand, and it concluded earlier this year, in January 2026.

"Aster's tokenomics upgrade puts the platform's own activity to work," the protocol noted, highlighting that the new rewards are settled on-chain with "no discretionary reserve."

The token's bullish price action, however, was short-lived as the Federal Reserve's hawkish turn sent the dollar higher and weighed on risk assets, including cryptocurrencies.

As of writing, ASTER traded near 68 cents, down 5% on the day.

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ASTER fiyatı, şubat ayından bu yana yatay destek bölgesi olarak çalışan 0.6570 dolar seviyesini geçtiğimiz günlerde kaybetmiş ve bu bölgenin altında fiyatlama gerçekleştirmişti. Bu alanın kaybedilmesi, kısa vadeli teknik görünümde zayıflık sinyali olarak yorumlanmıştı.

Ancak son gelen haber akışıyla birlikte ASTER fiyatında yaklaşık %15’lik yükseliş görüldü. Bu hareket, fiyatın yeniden kritik destek bölgesinin üzerine taşınmasını sağladı. Şu an için ASTER tarafında en önemli soru, bu yükselişin kalıcı olup olmayacağı.

0.6570 Dolar Seviyesi Neden Önemli? Teknik açıdan bakıldığında 0.6570 dolar bölgesi, ASTER için kısa vadede en yakın destek alanı olarak öne çıkıyor. Fiyatın bu bölgenin üzerinde günlük kapanış yapması, gelen haber etkisinin teknik görünümle de desteklenmesini sağlayabilir.

İlginizi Çekebilir: Bitcoin ve Ethereum’da Düşüş: Kripto Piyasası Fed’e Takıldı!

Bu senaryoda ASTER, yalnızca haber kaynaklı bir tepki yükselişi göstermiş olmakla kalmaz; aynı zamanda teknik olarak da yeniden momentum kazanabilir. Özellikle günlük kapanışların 0.6570 dolar üzerinde gelmesi, alıcıların bu bölgede yeniden güç kazandığını gösterebilir.

ASTER/USDT paritesi günlük grafiği. Sert Düşüş Senaryosunda Manipülasyon Riski Var! ASTER fiyatı haber sonrası güçlü bir yükseliş göstermiş olsa da, sert geri çekilmeler her zaman dikkatle takip edilmeli. Eğer fiyat kısa sürede agresif bir satış baskısıyla karşılaşırsa, 0.6570 dolar desteğinin altına kısa süreli sarkmalar görülebilir.

Bu tarz hareketler piyasada manipülatif fitil veya likidite temizliği olarak değerlendirilebilir. Bu nedenle yatırımcıların yalnızca anlık fiyat hareketlerine değil, özellikle günlük kapanışlara odaklanması daha sağlıklı olacaktır.

Buna karşılık daha yavaş ve kontrollü bir geri çekilme yaşanırsa, 0.6570 dolar bölgesinin destek olarak çalışması daha olası hale gelebilir. Bu da fiyatın yeniden yukarı yönlü denemeler yapmasına zemin hazırlayabilir.

ASTER İçin 0.8170 Dolar Direnci Takip Edilmeli! Geniş grafik görünümünde ise 0.8170 dolar seviyesi ASTER için önemli bir direnç bölgesi olarak dikkat çekiyor. Bu alan, geçmiş fiyatlamalarda ciddi bir akümülasyon bölgesi olarak çalıştığı için yeniden kazanılması halinde güçlü bir yükseliş hareketi görülebilir.

ASTER fiyatının 0.8170 dolar üzerine yerleşmesi, teknik görünümde daha pozitif bir yapının oluşmasını sağlayabilir. Bu bölgenin kırılımı halinde piyasadaki alıcı ilgisinin artması ve fiyatın daha sert tepki vermesi mümkün olabilir.

Son dakika kripto para haberleri için hemen tıkla

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

The latest change will significantly increase fee allocation compared to the previous Stage 5 model, which had pegged allocation at 80%.

The Aster DEX unveiled a huge change to its tokenomics on June 17, allocating 99% of fees generated through its platform to an ASTER token buyback, with one-to-one burns from its reserves for each token purchase.

The #48-ranked cryptocurrency witnessed a massive rebound shortly after the announcement but has since given back most of those gains.

DEX Pushes Token Buybacks to 99% of Fees In a post on X, the YZ Labs-supported perp exchange said its upgraded tokenomics model went live at 12:00 PM UTC on June 17. Under the new framework, 99% of daily platform fees will be used to automatically buy back ASTER through time-weighted average price purchases executed throughout the day and settled on-chain.

Every token bought back will trigger an equal burn from Aster’s reserve, with the team allocation burned first, resulting in what they called a 198% buyback: 99% repurchased and 99% burned from reserve.

However, the coins that’ll be bought back won’t disappear. They’ll go directly to stakers after being added to the protocol’s Loyalty Reward pool, which already distributes 300,000 ASTER in every epoch.

And the burn target is quite significant. Recall that the DEX launched with a total supply of 8 billion tokens, and it intends to burn that down to 3 billion, meaning more than 60% of that supply has been earmarked for destruction.

CoinGecko states that the present circulating supply is at about 2.68 billion, while the total supply is 7.82 billion, so there’s still a long way to go before the burn target is reached.

Where ASTER Stands Now News of the new tokenomics mechanism had an immediate effect in the market. It saw ASTER’s value jump 23%, going from around $0.64 to $0.79 per CoinGecko. But it has since given back a fair bit of that gain and was trading near $0.65 at the time of writing, almost 73% below its September 2025 all-time high of $2.41.

Back in December 2025, the exchange announced a similar repurchase program, but at the time, the plan was to allocate 80% of daily fees to hoover up the token.

That was split between automatic daily buys, which took 40% of the fees, while another 20% to 40% was to be held in a discretionary strategic reserve, allowing the platform to conduct targeted purchases based on market conditions.

That announcement also coincided with a brief price uptick, with ASTER spiking 30% to $1.30, buoyed by news that ex-Binance CEO Changpeng Zhao was holding more than $2.5 million worth of the cryptocurrency.

The new plan has removed the strategic reserve approach entirely and pushed allocation much higher, with nearly all platform fee revenue going into automatic buybacks.

Tags:

PANews, June 22 – Decentralized contract trading platform Aster announced the launch of the "$U Perpetual Milestone Competition," offering up to 150,000 U in incentives for the BTCU and ETHU perpetual contracts, which are being listed for the first time through its permissionless Listing Vote. The prize pool is linked to the total trading volume during the event period, excluding market makers: if the total volume does not exceed 200 million, the prize pool is 50,000 U; between 200 million and 500 million, it is 100,000 U; above 500 million, it is 150,000 U. Users must first register on the event page and disable their account privacy settings; only contract trading volume generated after registration will be counted. Trades via Binance Wallet, Trust Wallet, and other channels are all valid. Rewards are distributed based on the proportion of effective trading volume, with BTCU and ETHU enjoying a 1.5x trading volume multiplier. The event runs from June 22, 10:00 UTC to July 6, 14:00 UTC, and rewards will be distributed before July 15.

-

Quarterly Record Combined Investment Banking Advisory and Underwriting Net Revenues, as well as Quarterly Record Equities Net Revenues

NEW YORK--(BUSINESS WIRE)--Jefferies Financial Group Inc. (NYSE: JEF)

Q2 Financial Highlights

$ in thousands, except per share amounts

Quarter End

Year-to-Date

2Q26

2Q25

2026

2025

Net earnings attributable to common shareholders

$

226,234

$

88,017

$

382,161

$

215,955

Diluted earnings per voting common share

$

1.02

$

0.40

$

1.70

$

0.97

Return on adjusted tangible shareholders' equity1

12.8

%

5.5

%

12.2

%

6.9

%

Total net revenues

$

2,206,451

$

1,634,447

$

4,223,581

$

3,227,466

Investment banking net revenues

$

1,206,820

$

766,307

$

2,224,113

$

1,466,999

Capital markets net revenues

$

799,292

$

704,155

$

1,578,048

$

1,402,439

Asset management net revenues

$

187,718

$

154,621

$

407,980

$

346,336

Pre-tax earnings

$

315,549

$

134,901

$

527,765

$

285,966

Book value per common share

$

51.95

$

49.96

$

51.95

$

49.96

Adjusted tangible book value per fully diluted share3

$

34.55

$

32.84

$

34.55

$

32.84

Quarterly Cash Dividend and Stock Buyback Activity

The Jefferies Board of Directors declared a quarterly cash dividend equal to $0.40 per Jefferies common share, payable on August 28, 2026 to record holders of Jefferies common shares on August 18, 2026.

During the quarter, we repurchased 4.0 million shares of common stock for $197 million, or an average price of $49.83 per share. Our Board of Directors has increased our share buyback authorization back to a total of $250 million.

Management Comments

"Our strong second quarter net revenues of $2.21 billion, net earnings attributable to common shareholders of $226 million, diluted earnings per voting common share of $1.02 and return on adjusted tangible shareholders' equity of 12.8% reflect the momentum and market position we have been building at Jefferies.

"The continued acceleration in our core businesses during the second quarter drove record first half net revenues in Advisory, total Investment Banking, Equities, total Capital Markets and combined Investment Banking and Capital Markets. We expect to build further on this momentum in coming periods.

“Investment Banking net revenues were $1.21 billion, up 57% from the prior year quarter. Growth was driven by continued market share gains and a growing addressable market in our Advisory and Equity Underwriting businesses and represent a balanced performance, as no single outsized fee drove our results. We continue to make progress in building our corporate M&A business, while staying focused on our historical areas of strength in sponsor-led activity and had very strong performance during the quarter with corporates particularly in the healthcare, industrials and energy sectors. The new issue market remains resilient. We continue to be optimistic about the second half of 2026, given the strength of our current backlog and new business bookings.

"Capital Markets net revenues were $799 million, up 14% from the prior year quarter. Equities delivered record net revenues of $601 million, up 14% from the prior year quarter. Our continued growth in Equities is being driven by market share gains in cash and electronic trading in EMEA, Asia and the Americas, as well as growth in prime services where we have become an increasingly important strategic partner to some of the most significant, well diversified, hedge funds in the world. While the growth of client-related prime brokerage balances has added to our overall balance sheet size, it has added a layer of high quality, consistent revenues that supports a more durable earnings profile. Additionally, our equity derivatives business continues to expand in sync with our investment banking business, and has allowed Jefferies to support some of our corporate clients' most important transactions with strategic derivative solutions. The shape and scale of growth in our Equities business is translating to higher overall equities operating margins after we invested the past few years in infrastructure to support meaningfully larger global volumes. Fixed Income net revenues were $199 million, up 12%, from the prior year quarter, reflecting strong performance in our distressed, municipal and emerging markets businesses.

"Asset management fees and investment return revenues were $46 million, down 35% compared to the prior year quarter due to weaker performance across several fund strategies, as well as the impact of our strategy to reposition the business by reducing capital allocated to certain funds in line with the announcement we made last fall when we disclosed our intent to acquire 50% of Hildene. In the short term, this has resulted in modestly lower investment return until we close our investment in Hildene, which we are targeting to complete in our third quarter, and should be immediately accretive to results."

Richard Handler, CEO, and Brian Friedman, President

Financial Summary (Unaudited)

$ in thousands

Three Months Ended

Six Months Ended

May 31,
2026

February 28,
2026

May 31,
2025

May 31,
2026

May 31,
2025

Net revenues by source:

Advisory

$

674,118

$

527,128

$

457,860

$

1,201,246

$

855,640

Equity underwriting

370,691

305,969

122,366

676,660

250,886

Debt underwriting

160,186

181,858

205,363

342,044

404,725

Other investment banking

1,825

2,338

(19,282

)

4,163

(44,252

)

Total Investment Banking

1,206,820

1,017,293

766,307

2,224,113

1,466,999

Equities

600,751

558,488

526,244

1,159,239

935,302

Fixed income

198,541

220,268

177,911

418,809

467,137

Total Capital Markets

799,292

778,756

704,155

1,578,048

1,402,439

Total Investment Banking and Capital Markets Net revenues5

2,006,112

1,796,049

1,470,462

3,802,161

2,869,438

Asset management fees and revenues6

15,169

69,910

20,766

85,079

109,396

Investment return

31,037

88,992

50,404

120,029

44,770

Allocated net interest4

(22,935

)

(22,238

)

(19,144

)

(45,173

)

(36,365

)

Other investments, inclusive of net interest

164,447

83,598

102,595

248,045

228,535

Total Asset Management Net revenues

187,718

220,262

154,621

407,980

346,336

Other

12,621

819

9,364

13,440

11,692

Total Net revenues by source

$

2,206,451

$

2,017,130

$

1,634,447

$

4,223,581

$

3,227,466

Non-interest expenses:

Compensation and benefits

$

1,188,245

$

1,085,890

$

854,839

$

2,274,135

$

1,695,966

Compensation ratio13

53.9

%

53.8

%

52.3

%

53.8

%

52.5

%

Non-compensation expenses

$

702,657

$

719,024

$

644,707

$

1,421,681

$

1,245,534

Non-compensation ratio13

31.8

%

35.6

%

39.4

%

33.7

%

38.6

%

Total Non-interest expenses

$

1,890,902

$

1,804,914

$

1,499,546

$

3,695,816

$

2,941,500

Net earnings before income taxes

$

315,549

$

212,216

$

134,901

$

527,765

$

285,966

Income tax expense

$

65,571

$

52,870

$

43,506

$

118,441

$

57,722

Income tax rate

20.8

%

24.9

%

32.3

%

22.4

%

20.2

%

Net earnings

$

249,978

$

159,346

$

91,395

$

409,324

$

228,244

Net losses attributable to noncontrolling interests

(5,440

)

(15,858

)

(7,668

)

(21,298

)

(14,651

)

Preferred stock dividends

29,184

19,504

11,046

48,461

26,940

Net earnings attributable to common shareholders

$

226,234

$

155,700

$

88,017

$

382,161

$

215,955

Results Discussion

* * * *

Amounts herein pertaining to May 31, 2026 represent a preliminary estimate as of the date of this earnings release and may be revised upon filing our Quarterly Report on Form 10-Q with the Securities and Exchange Commission (“SEC”). More information on our results of operations for the three and six months ended May 31, 2026 will be provided upon filing our Quarterly Report on Form 10-Q with the SEC, which we expect to file on or about July 9, 2026.

This press release contains certain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current views and include statements about our future and statements that are not historical facts. These forward-looking statements are usually preceded by the words “should,” “expect,” “intend,” “may,” “will,” "would," or similar expressions. Forward-looking statements may contain expectations regarding revenues, earnings, operations, and other results, and may include statements of future performance, plans, and objectives. Forward-looking statements may also include statements pertaining to our strategies for future development of our businesses and products. Forward-looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain. It is possible that the actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Information regarding important factors, including Risk Factors that could cause actual results to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with reports we file with the SEC. We undertake no obligation to update or revise any such forward-looking statement to reflect subsequent circumstances.

Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s).

Consolidated Statements of Earnings (Unaudited)

$ in thousands, except per share amounts

Three Months Ended May 31,

Six Months Ended May 31,

2026

2025

2026

2025

Revenues

Investment banking

$

1,209,625

$

789,269

$

2,227,909

$

1,518,779

Principal transactions

488,666

338,507

976,164

745,737

Commissions and other fees

400,614

353,233

768,218

641,533

Asset management fees and revenues

9,788

20,076

77,150

105,484

Interest

853,962

878,025

1,667,081

1,723,196

Other

155,542

115,205

272,940

232,450

Total revenues

3,118,197

2,494,315

5,989,462

4,967,179

Interest expense

911,746

859,868

1,765,881

1,739,713

Net revenues

2,206,451

1,634,447

4,223,581

3,227,466

Non-interest expenses

Compensation and benefits

1,188,245

854,839

2,274,135

1,695,966

Brokerage and clearing fees

147,446

129,745

280,578

239,181

Underwriting costs

26,858

14,525

58,241

32,371

Technology and communications

162,860

146,198

322,718

285,673

Occupancy and equipment rental

34,499

30,711

68,359

60,910

Business development

89,108

80,070

164,530

152,361

Professional services

98,707

77,768

175,651

150,234

Depreciation and amortization

47,328

52,253

104,193

83,241

Cost of sales

31,253

42,961

61,173

84,529

Other expenses

64,598

70,476

186,238

157,034

Total non-interest expenses

1,890,902

1,499,546

3,695,816

2,941,500

Earnings before income taxes

315,549

134,901

527,765

285,966

Income tax expense

65,571

43,506

118,441

57,722

Net earnings

249,978

91,395

409,324

228,244

Net losses attributable to noncontrolling interests

(5,440

)

(7,668

)

(21,298

)

(14,651

)

Preferred stock dividends

29,184

11,046

48,461

26,940

Net earnings attributable to common shareholders

$

226,234

$

88,017

$

382,161

$

215,955

Financial Data and Metrics (Unaudited)

Three Months Ended

Six Months Ended

May 31,
2026

February 28,
2026

May 31,
2025

May 31,
2026

May 31,
2025

Other Data:

Number of trading days

63

61

63

124

124

Number of trading loss days7

0

1

13

1

17

Average VaR (in millions)8

$

10.31

$

9.78

$

11.89

$

10.05

$

12.50

In millions, except other data

May 31,
2026

February 28,
2026

May 31,
2025

Financial position:

Total assets

$

79,540

$

74,380

$

67,285

Cash and cash equivalents

14,315

11,963

11,260

Financial instruments owned

28,038

28,079

25,570

Level 3 financial instruments owned9

839

849

763

Goodwill and intangible assets, net14

1,974

1,979

2,060

Total equity

10,607

10,662

10,382

Total shareholders' equity

10,567

10,611

10,305

Tangible shareholders' equity10

8,593

8,632

8,245

Other data and financial ratios:

Leverage ratio11

7.5

7.0

6.5

Tangible gross leverage ratio12

9.0

8.4

7.9

Number of employees at period end

7,371

7,596

7,671

Number of employees excluding Tessellis and Stratos at period end

6,236

6,221

5,949

Non-GAAP Reconciliations

The following tables reconcile our non-GAAP financial measures to their respective U.S. GAAP financial measures. Management believes such non-GAAP financial measures are useful to investors as they allow them to view our results through the eyes of management, while facilitating a comparison across historical periods. These measures should not be considered a substitute for, or superior to, measures prepared in accordance with U.S. GAAP.

Return on Adjusted Tangible Equity Reconciliation

$ in thousands

Three Months Ended

May 31,

Six Months Ended

May 31,

2026

2025

2026

2025

Net earnings attributable to common shareholders (GAAP)

$

226,234

$

88,017

$

382,161

$

215,955

Intangible amortization and impairment expense, net of tax15

1,682

5,824

48,170

13,093

Adjusted net earnings to common shareholders (non-GAAP)

227,916

93,841

430,331

229,048

Preferred stock dividends

29,184

11,046

48,461

26,940

Adjusted net earnings to total shareholders (non-GAAP)

$

257,100

$

104,887

$

478,792

$

255,988

Adjusted net earnings to total shareholders (non-GAAP)1

$

1,028,400

$

419,548

$

957,584

$

511,976

February 28,

November 30,

2026

2025

2025

2024

Shareholders' equity (GAAP)

$

10,610,845

$

10,204,228

$

10,574,696

$

10,156,772

Less: Goodwill and intangible assets, net

(1,978,652

)

(2,037,906

)

(2,040,147

)

(2,054,310

)

Less: Deferred tax asset, net

(493,427

)

(507,452

)

(459,052

)

(497,590

)

Less: Weighted average impact of dividends and share repurchases

(112,340

)

(67,343

)

(244,489

)

(157,540

)

Adjusted tangible shareholders' equity (non-GAAP)

$

8,026,426

$

7,591,527

$

7,831,008

$

7,447,332

Return on adjusted tangible shareholders' equity (non-GAAP)1

12.8

%

5.5

%

12.2

%

6.9

%

Adjusted Tangible Book Value and Fully Diluted Shares Outstanding Reconciliation

Reconciliation of book value (shareholders' equity) to adjusted tangible book value and common shares outstanding to fully diluted shares outstanding:

$ in thousands, except per share amounts

May 31, 2026

May 31, 2025

Book value (GAAP)

$

10,566,996

$

10,305,025

Stock options(1)

114,939

114,939

Goodwill and intangible assets, net(2)

(1,974,240

)

(2,060,018

)

Adjusted tangible book value (non-GAAP)

$

8,707,695

$

8,359,946

Voting common shares outstanding (GAAP)

194,145

206,272

Non-voting common shares outstanding (GAAP)

9,247

—

Preferred shares

27,563

27,563

Restricted stock units ("RSUs")

14,251

14,099

Stock options(1)

5,064

5,064

Other

1,758

1,566

Adjusted fully diluted shares outstanding (non-GAAP)(3)

252,028

254,564

Book value per common share outstanding

$

51.95

$

49.96

Adjusted tangible book value per fully diluted share outstanding (non-GAAP)

$

34.55

$

32.84

(1)

Stock options added to book value are equal to the total number of stock options outstanding as of May 31, 2026 and 2025 of 5.1 million multiplied by the exercise price of $22.69 on May 31, 2026 and 2025.

(2)

Includes goodwill and intangible assets related to Tessellis which were reclassified to assets held for sale during the first quarter of 2026.

(3)

Fully diluted shares outstanding include vested and unvested RSUs as well as the target number of RSUs issuable under the senior executive compensation plans until the performance period is complete. Fully diluted shares outstanding also include all stock options and the impact of convertible preferred shares if-converted to common shares.

Notes

Return on adjusted tangible shareholders' equity represents a non-GAAP financial measure and is based on full year or annualized amounts. Refer to schedule on page 8 for a reconciliation to U.S. GAAP amounts. Shares outstanding on a fully diluted basis (a non-GAAP financial measure) is defined as common shares outstanding plus preferred shares, restricted stock units, stock options and other shares. Refer to schedule on page 9 for a reconciliation to U.S. GAAP amounts. Adjusted tangible book value per fully diluted share (a non-GAAP financial measure) is defined as adjusted tangible book value (a non-GAAP financial measure) divided by shares outstanding on a fully diluted basis (a non-GAAP financial measure). Refer to schedule on page 9 for a reconciliation to U.S. GAAP amounts. Allocated net interest represents an allocation to Asset Management of certain of our long-term debt interest expense, net of interest income on our Cash and cash equivalents and other sources of liquidity. Allocated net interest has been disaggregated to increase transparency and to present direct Asset Management revenues. We believe that aggregating Allocated net interest would obscure the revenue results by including an amount that is unique to our credit spreads, debt maturity profile, capital structure, liquidity risks and allocation methods. Allocated net interest is not separately disaggregated for Investment Banking and Capital Markets. This presentation is aligned to our Investment Banking and Capital Markets internal performance measurement. Asset management fees and revenues include management and performance fees from funds and accounts managed by us, revenue from strategic affiliated asset managers where we are entitled to portions their operating revenues and income based on our ownership interests in the affiliates. Number of trading loss days is calculated based on trading activities in our Investment Banking and Capital Markets and Asset Management business segments, excluding certain Other investments. VaR estimates the potential loss in value of trading positions due to adverse market movements over a one-day time horizon with a 95% confidence level. For a further discussion of the calculation of VaR, see "Value-at-Risk" in Part II, Item 7A "Quantitative and Qualitative Disclosures About Market Risk" in our Annual Report on Form 10-K for the year ended November 30, 2025. Level 3 financial instruments represent those financial instruments classified as such under Accounting Standards Codification 820, accounted for at fair value and included within Financial instruments owned. Tangible shareholders' equity (a non-GAAP financial measure) is defined as shareholders' equity less Intangible assets and goodwill. We believe that tangible shareholders' equity is meaningful for valuation purposes, as financial companies are often measured as a multiple of tangible shareholders' equity, making these ratios meaningful for investors. Leverage ratio equals total assets divided by total equity. Tangible gross leverage ratio (a non-GAAP financial measure) equals total assets less goodwill and intangible assets divided by tangible shareholders' equity. The tangible gross leverage ratio is used by rating agencies in assessing our leverage ratio. Compensation ratio equals total compensation expense divided by total net revenues. Non-compensation ratio equals total non-compensation expense divided by total net revenues. Includes goodwill and intangible assets related to Tessellis which were reclassified to assets held for sale during the first quarter of 2026. Includes a $35.5 million after-tax write-down of goodwill associated with Tessellis for the six months ended May 31, 2026. More News From Jefferies Financial Group Inc.

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MCLEAN, Va.--(BUSINESS WIRE)--Capital One Financial Corporation (NYSE: COF) posted a summary of its company-run stress test results on its website (www.capitalone.com). This summary shows the results of Capital One’s modeling of the severely adverse scenario published by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). From the home page, select “About” choose “Investors” to access the Investor Center, select "Financials," and then choose “Stress Test Results” to view the current summary.

As announced by the Federal Reserve in February 2026, the Federal Reserve is maintaining the stress capital buffer requirements (“SCB”) for all participating firms at their current levels until September 30, 2027. Consequently, absent further action from the Federal Reserve, the Company’s SCB will remain at 4.5% until September 30, 2027. As a reminder, the 4.5% SCB was calculated prior to the close of the Discover acquisition and therefore is based on stand-alone Capital One.

Forward-Looking Statements
Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as "will," "anticipate," "target," "expect," "think," "estimate," "intend," "plan," "goal," "believe," "forecast," "outlook" or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors. For additional information on factors that could materially influence forward-looking statements included in this press release, see the risk factors set forth under "Part I—Item 1A. Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the "SEC") and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

About Capital One
Capital One Financial Corporation (NYSE: COF) is a leading technology-based financial services company with $489.1 billion in deposits and $682.9 billion in total assets as of March 31, 2026. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom.

CMS Energy Announces Chris Shellberg as Vice President of Low-Voltage Electric Distribution PR Newswire JACKSON,

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Global study finds AI is delivering ROI, but trust hinges on transparency, choice and seamless human handoffs

LAS VEGAS--(BUSINESS WIRE)--Five9 (Nasdaq: FIVN), provider of the Intelligent CX Platform, today released its 2026 Business Leaders Customer Experience Report, uncovering how organizations are moving from AI experimentation to execution in customer experience. The global study found that 92% of organizations have already implemented or piloted AI use cases in customer service. Yet despite rapid adoption and measurable business results, consumer trust remains the defining challenge. While 80% of consumers are willing to use AI-powered customer service, two-thirds still prefer speaking with a human.

Based on a survey of 3,000 consumers and 600 customer experience and contact center decision-makers across the U.S., U.K., and Germany, the report explores the important difference that separates successful AI adoption from just effective AI execution. The findings show that organizations are realizing strong returns from AI investments, but long-term success depends on how well AI is integrated into customer journeys, employee workflows, governance frameworks, and human support experiences. The next phase of CX will be defined not by how much AI organizations deploy, but by how effectively they use it to build trust and improve outcomes.

“AI has clearly crossed the threshold from promise to production in customer experience, but the next challenge is much harder than deployment,” said Amit Mathradas, CEO of Five9. “Winning with AI in customer experience will come down to more than automating interactions at scale. It requires making every experience more relevant, more trusted and more human – giving customers choice, equipping agents for higher-value work, preserving context across every handoff and building AI strategies that can scale responsibly across the business.”

The findings also reveal that consumers are placing new expectations on AI-powered customer service. While many are willing to engage with AI for routine interactions, they expect transparency, choice, and seamless transitions when human assistance is needed. Phone remains the most preferred customer service channel overall, and that preference increases steadily with age, rising from 23% of Gen Z consumers to 33% of Gen X consumers, 47% of Baby Boomers, and 66% of consumers in the Silent Generation. The report also found that 71% of consumers consider it very or extremely important to know when they are interacting with an AI agent, highlighting the growing role of transparency in building trust.

Among the key insights:

The AI-to-human handoff is make-or-break: Nearly all decision-makers say their organization preserves context during AI-to-human handoffs, yet 83% of consumers say they still have to repeat themselves at least sometimes after being transferred —raising questions about whether organizations are accurately measuring handoff success.CX infrastructure is still catching up to AI ambition: 84% of organizations are still transitioning from on-premises infrastructure to cloud-based, underscoring that AI execution depends on the systems, data and workflows underneath it.There is no one-size-fits-all AI playbook: Decision makers are split between end-to-end platforms, hybrid approaches and best-of-breed tools, reinforcing the need for flexible AI strategies that align models, workflows, governance and human oversight to each use case.Download the full Five9 2026 Business Leaders Customer Experience Report to learn where AI is delivering value, where consumer trust is still lagging and how CX leaders can build the next generation of AI-powered customer experiences.

Methodology

Five9 partnered with Hanover Research to survey 3,000 consumers and 600 business decision-makers across the U.S., U.K. and Germany in April 2026. Consumers were required to be 18 years of age or older and have interacted with customer service in at least one covered industry, including healthcare, financial services, retail, travel and hospitality, higher education, sales and telemarketing, customer service or outsourcing. Business decision-makers were required to be full-time employees at the manager level or above who make decisions for a contact center or otherwise oversee customer experience.

About Five9

Five9 is the proven, open cloud platform for customer experience. Cloud-native since 2001 and built by voice experts for the agentic era, Five9 powers contact centers for more than 3,500 enterprises across 140+ countries, including leading health systems, financial institutions, and organizations across every major industry. The Five9 platform, powered by Genius AI, serves every channel and workflow, together with the governance, control, and ecosystem flexibility that even the most regulated enterprises demand. Practical AI that learns from every interaction, driving real outcomes for customers and the businesses that serve them. For more information, visit www.five9.com.

Engage with us @Five9, LinkedIn, Facebook, and the Five9 Blog.

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The company has received awards demonstrating outstanding commitment to providing high-quality drinking water

, /PRNewswire/ -- Two Illinois American Water drinking water treatment plants have been recognized for achieving water quality excellence by the Partnership for Safe Water. Illinois American Water's Illinois River water treatment plant in Peoria and Granite City water treatment plant both received the 25-year Directors Award.

The national awards, which honor efforts to continuously optimize water treatment plant and distribution system operation and performance, were recently announced by the American Water Works Association (AWWA).

"Receiving these awards is a testament to our commitment to providing safe, clean and reliable water that our customers can depend on," said Brian Eisenloeffel, Vice President of Operations at Illinois American Water, who attended the national awards event on June 22. "Illinois American Water holds itself to the highest drinking water standards, and our longstanding membership in the Partnership for Safe Water demonstrates and recognizes the expectations we set as a company."

"Recognition of our Illinois River and Granite City water treatment plants is a reflection of the care, expertise and dedication our employees bring to work every day," added Sarah Boyd, Director of Water Quality and Environmental Compliance at Illinois American Water. "The next time customers turn on their tap, we hope they feel confident knowing there is a dedicated local team, including water quality professionals, treatment plant operators and engineers, who work behind the scenes to help deliver high-quality water to their homes and businesses."

As part of the AWWA annual conference, Melissa Litteken, Principal Water Quality Program Manager at American Water, presented an abstract titled, "Navigating LCRR & LCRI: Lead Monitoring in an Evolving Compliance Landscape." The presentation provided an overview of Illinois Environmental Protection Agency's Lead Regulations and Illinois American Water's commitment to replacing aging service lines to comply with applicable state and federal drinking water regulations and improve water quality. Since 2020, more than 5,200 lead or qualifying galvanized steel service lines have been replaced across Illinois, by Illinois American Water.

"These improvements strengthen the water systems our communities rely on with a focus on meeting critical, evolving regulatory requirements," said Litteken. "Long-term investments in water quality help ensure sustainability and support our ability to provide safe, clean and reliable service for generations to come."

Nationally, just over 400 surface water treatment plants are part of the Partnership for Safe Water, a voluntary effort that is designed to increase protection against microbial contamination through treatment optimization.

About American Water 
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About Illinois American Water 
Illinois American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 600 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 1.3 million people. American Water also operates a quality control and research laboratory in Belleville.

SOURCE American Water

Investors face a choice between the high-energy fashion world and the steady demand for home maintenance. Deciding between American Eagle Outfitters (AEO +4.34%) and Pool (POOL +5.40%) involves weighing apparel trends against outdoor leisure cycles.

American Eagle Outfitters is a specialty apparel giant focused on youth brands, while Pool serves as a vital wholesale link in the global swimming pool market. Both companies cater to discretionary spending, but their business models and growth drivers differ significantly. This comparison evaluates their financials and risks to see which stock is a better fit for 2026.

American Eagle Outfitters operates as a specialty retailer offering apparel, accessories, and personal care products through its American Eagle and Aerie brands. The company manages over 1,100 stores across North America and Asia while reaching dozens of other countries through licensing and digital channels. Among retail stocks, its recent move to close the Quiet Platforms business signifies a strategic shift back to its core brand strengths.

In fiscal 2025 (which ends in January), the company generated revenue exceeding $5.5 billion, up about 4% over the previous year. It’s turning a profit, with net income of $185 million, though the net margin decreased to roughly 3.5% from 6.2% in the prior year. This trend suggests that while sales are expanding, higher costs or pricing pressures may be impacting the bottom line.

According to its January 2026 balance sheet, the debt-to-equity ratio is approximately 0.8x. This metric compares a company's total debt to its shareholder equity to help investors understand its financial leverage. The company maintained a current ratio of roughly 1.5x, which measures its ability to cover short-term liabilities, and generated free cash flow of nearly $195 million during the year.

The case for PoolPool is the world’s largest wholesale distributor of swimming pool supplies and outdoor living products. With approximately 455 locations globally, the company serves a professional customer base, including pool builders, remodelers, and independent retail specialty stores. This business model relies on both the initial construction of new pools and the recurring maintenance needs of existing pool owners.

For 2025, the company reported revenue of nearly $5.3 billion, a slight decrease of roughly 0.4% from the prior fiscal year. Net income was $406 million, resulting in a net margin of close to 7.7%. While revenue growth was flat, the company has maintained a higher net margin compared to many other distributors in the consumer space.

As of the December 2025 balance sheet, the debt-to-equity ratio is roughly 1.2x. The current ratio is approximately 2.2x, indicating a strong capacity to pay off short-term debts with its current assets. Free cash flow was $309 million, providing the company with capital to continue its acquisition and dividend payment strategies.

Risk profile comparisonAmerican Eagle Outfitters faces significant macroeconomic risks, as inflation and interest rate volatility can quickly dampen discretionary consumer spending. The company is also vulnerable to supply chain disruptions and trade policy changes, particularly following the February 2026 court rulings on tariffs. Furthermore, it must compete with e-commerce players and numerous apparel brands, which places constant pressure on pricing and digital innovation.

Pools are highly dependent on the housing market and the general state of the economy, as new pool construction is a major ticket expense for homeowners. While maintenance provides a recurring revenue stream, prolonged recessions can lead consumers to defer luxury upgrades or repairs. The company also faces competition from regional distributors and specialty retailers, which can affect its market share and pricing power in key geographic regions.

Valuation comparisonAmerican Eagle Outfitters shares are less expensive based on earnings and sales than those of its industry peers. Yet Pool is also trading at a discounted forward earnings multiple relative to its competitors. Both stocks could be undervalued right now.

MetricAmerican Eagle OutfittersPoolSector BenchmarkForward P/E10.1x18.0x28.6xP/S ratio0.5x1.4xn/aSector benchmark uses the SPDR XLY sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?It hasn’t been a strong macroeconomic environment for either business. Despite a weak sales backdrop, American Eagle has posted sales growth for three consecutive years, a testament to a well-managed apparel business. On the other side, Pool has experienced inconsistent top-line performance.

However, investors shouldn’t be persuaded by recent results. Pool has better long-term growth prospects once the housing market recovers. American Eagle faces intense competition from numerous apparel brands, but Pool has a more durable moat due to its scale and highly efficient distribution network.

As the leader in outdoor products, Pool is a solid business. New home construction provides the company with a steadily expanding addressable market. However, Pool is not only reliant on selling new pool units. It can also generate revenues through maintenance and remodeling projects.

When the housing market recovers, Pool stock could rebound sharply, as it is trading at 66% below its previous highs. The combination of industry leadership and expansion potential from housing market growth makes Pool a better long-term growth stock to hold.

HomeStock IdeasLong IdeasFinancials 

SummaryEuronet Worldwide, Inc. is rated a buy, driven by strong capital growth potential, robust EPS metrics, and favorable ROE, despite elevated debt levels.Euronet Worldwide's diversified platform, combining digital and physical payment solutions, positions it competitively among global peers and supports ongoing top-line growth.Recent acquisitions, such as PaynoPain, and initiatives like stablecoin payouts, reinforce Euronet Worldwide's expansion in omnichannel payments and merchant services.While Euronet Worldwide remains undervalued with compelling fundamentals, risks from high debt/equity and volatile cash flow temper the rating to a modest buy. Images By Tang Ming Tung/DigitalVision via Getty Images

Overview: An Undervalued Name In The Global Payments Industry It's been several months since I wrote about attending the fintech conference called Money Motion 2026 in Croatia, so to put the spotlight

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

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

, /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Results of PNC's company-run stress test, including PNC's estimates of pre-provision net revenue, other revenue, loan and other losses, net income before taxes, risk-weighted assets, and regulatory capital ratios for PNC, as well as additional information on the methodologies used in conducting the stress test, may be found at http://www.pnc.com/regulatorydisclosures.

The Federal Reserve released its results of the 2026 supervisory stress test at 4:00 p.m., June 24, 2026. Consistent with the Federal Reserve's announcement Feb. 4, 2026, PNC's stress capital buffer (SCB) will be maintained at the regulatory minimum of 2.5% until PNC receives a new stress capital buffer requirement based on the results of a supervisory stress test conducted in 2027, which would be effective Oct. 1, 2027.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS

MEDIA:
Anne Pace
(631) 338-3268
[email protected]

INVESTORS:  
Bryan Gill
(412) 768-4143
[email protected]

SOURCE The PNC Financial Services Group, Inc.

As enterprise AI agents take on increasingly complex, long-horizon tasks, their performance is often restricted by their harness, the software scaffolding that connects the backbone LLM to its environment.  Currently, harnesses are largely static and hand-crafted.

National rent growth remains positive in June as spring leasing season momentum lags

ARLINGTON, Va.--(BUSINESS WIRE)--Today Apartments.com, an industry-leading online marketplace of CoStar Group, Inc. (NASDAQ: CSGP), published its latest report on multifamily rent trends for June 2026.

U.S. apartment rents increased modestly in June, with the national average rising to $1,742, a +0.1% increase from May’s upwardly revised level of $1,740. This marks the seventh consecutive month of positive rent growth following a period of flat to declining monthly performance in the second half of 2025. On an annual basis, rent growth was flat at +0.8% in June 2026, in line with May’s year-over-year reading and down from +1.2% one year earlier.

May 2026 was initially reported as +0.2% month-over-month and has been revised upward to +0.3%.

While apartment rent growth typically slows in June as the spring leasing season concludes, gains this June were particularly subdued. Viewed over the entire March-to-June period, monthly rent growth suggests that the spring 2026 leasing season momentum was more restrained than in recent years. While monthly rent growth has stabilized since late 2025, supply conditions and more measured demand growth continue to restrain pricing momentum nationally.

Rent growth was broad-based across regions in June, with all five regions posting month-over-month increases. The Pacific region led on a monthly basis, rising +0.2%, followed by the Midwest, South, Northeast and Mountain regions at +0.1% each. On an annual basis, regional performance was more uneven. The Midwest recorded the strongest year-over-year rent growth at +2.0%, followed by the Pacific at +1.4% and the Northeast at +1.3%. In contrast, rents declined year-over-year in the South, down -0.7%, and in the Mountain region, down -1.5%. Performance across Western markets continues to diverge, with supply-heavy Mountain metros facing greater pressure than more supply-constrained Pacific markets.

At the metro level, rent growth remained widespread in June, with 41 of the top 50 markets posting month-over-month increases, down slightly from 43 markets in May. San Francisco led monthly rent growth with a +0.7% increase, followed by San Jose at +0.6% and East Bay at +0.4%. Only nine major markets recorded monthly rent declines, with Fort Lauderdale down -0.3%, Richmond down -0.2%, Louisville, San Antonio, and Pittsburgh each down -0.1%, and Phoenix, Las Vegas, Columbus and Tucson also posting slight declines.

On an annual basis, San Francisco continued to outperform, posting rent growth of +9.2%, followed by San Jose at +5.6%, Norfolk at +4.6% and East Bay at +3.1%. Meanwhile, markets experiencing the largest supply additions remained under pressure, led by San Antonio, with a -3.4% annual decline, followed by Denver at -2.6%, Austin at -2.6%, and Phoenix at -2.3%, reflecting that new supply continues to outpace demand.

Regionally, modest monthly rent gains are now widespread across the country, though year-over-year performance remains uneven and closely tied to local supply conditions. While many markets have moved past peak construction activity, a substantial—though gradually easing—inventory overhang continues to weigh on rent growth nationally as the 2026 spring leasing season concludes.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted 131 million average monthly unique visitors in the first quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of PAYC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Nothing contained in this message is an offer or solicitation to buy or sell any security/investment, and is for informational purposes only. The author does not guarantee the accuracy or completeness of the information provided in this document. All statements and expressions herein are the sole opinion of the author and are subject to change without notice. Neither the author nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

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

The latest meme darling: the fast-food chain known for the Frosty and the four-cornered burger.

The precision medicine company expects to launch Signatera commercially in Japan by the end of 2026, pending final pricing decisions.

The approval marks a key milestone in Natera’s international oncology expansion.

More than 150,000 people are diagnosed with colorectal cancer each year in Japan, making it one of the country’s most common cancers and highlighting the need for personalized treatment strategies.

Clinical Evidence And Medical Society Support Back ApprovalThe cancer test company said findings from the GALAXY clinical trial supported regulatory clearance.

The study showed that patients who tested MRD-positive following surgery experienced substantial benefit from adjuvant chemotherapy, while MRD-negative patients did not appear to benefit from the treatment.

The GALAXY trial analyzed 2,240 samples, making it one of the largest prospective studies evaluating MRD testing in resectable colorectal cancer.

The study forms part of the broader CIRCULATE-Japan platform, which involves thousands of patients and more than 150 institutions across Japan.

SRL To Lead Commercialization Efforts Across JapanCommercial rollout of Signatera in Japan will be supported by SRL Inc., Japan’s largest reference laboratory and a member of H.U. Group Holdings.

As Natera’s exclusive business partner in Japan, SRL will help expand access to personalized MRD testing through its nationwide laboratory network.

On Tuesday, the National Comprehensive Cancer Network (NCCN) recognized Natera’s Signatera technology for muscle-invasive bladder cancer.

The recognition marks the third NCCN guideline recommendation for circulating tumor DNA (ctDNA) testing, which could enhance treatment protocols for patients, reflecting positively on Natera’s market position and growth potential.

NTRA Stock Price Activity: Natera shares were up 10.29% at $258.92 at the time of publication on Wednesday, according to Benzinga Pro data.

Photo by Michael Vi via Shutterstock

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Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of [url="]Kahn Swick and Foti[/url], LLC (“KSF”) are investigating the propos