Eaton do roku 2026 plánuje organický růst 11–13 % a upravený zisk na akcii 13,40–13,60 USD, tažený silnou poptávkou po datových centrech a modernizací sítě.
Key Takeaways Eaton sees durable growth from grid modernization, data centers, automation, energy transition and aerospace.Eaton plans $3B in R&D and a $242M Arkansas plant to expand critical-power infrastructure capacity.For 2026, Eaton expects 11-13% organic growth, 24.1-24.5% margins and adjusted EPS of $13.40-$13.60. Eaton Corporation’s (ETN - Free Report) shares are trading at a premium to its industry. The company’s forward 12-month price-to-earnings of 28.26X is higher than its industry’s 24.12X and above the median of 27.30X over the last three years.
Eaton, a diversified power management company and a global technology leader in electrical components and systems, is gaining from rising electrification and data center demand.
A premium valuation reflects stronger structural growth and higher-quality earnings, driven by electrification, AI/data-center power demand, grid modernization and aerospace. Eaton’s strong backlog, leading positions in mission-critical electrical markets and improving margins reinforce expectations for sustained above-industry growth and profitability.
Image Source: Zacks Investment Research
Eaton shares are more expensive than industrial tech stocks like Emerson Electric Co. (EMR - Free Report) and Powell Industries (POWL - Free Report) .
ETN: An OutperformerShares of ETN have gained 5.1% in the past three months, outperforming the industry’s 4.7% increase and the Zacks S&P 500 composite’s 2% gain. The sector has declined 4.5% in the same time frame.
Image Source: Zacks Investment Research
Emerson Electric and Powell Industries have gained 9.3% and lost 0.5%, respectively, in the same time frame.
The Case for EatonEaton is well positioned to benefit from several durable growth trends, including grid modernization, data center expansion, industrial automation, energy transition and continued recovery in aerospace markets. Its expanding backlog reflects healthy customer demand and reinforces the company’s position as a provider of mission-critical power management solutions.
Innovation and sustainability remain important elements of Eaton’s long-term strategy. The company intends to invest roughly $3 billion in research and development over the next decade to develop advanced technologies and strengthen its product portfolio. Eaton is also investing more than $242 million in a new manufacturing facility in North Little Rock, AR, to expand its capabilities in the fast-growing critical-power infrastructure market.
Acquisitions are further strengthening Eaton’s exposure to attractive, higher-margin businesses. The company recently agreed to acquire COL Group from Oaktree’s Power Opportunities strategy for €810 million ($923 million). The transaction will expand Eaton’s European power distribution platform through additional medium-voltage technologies and manufacturing capacity, while supporting rising demand from data center and utility customers. Fibrebond, Resilient Power, Ultra PCS and Boyd are also contributing to growth and margins across their respective businesses.
AI-driven data center investment remains a major opportunity as increasing computing intensity requires greater power capacity, reliability and energy efficiency. Eaton is expanding its presence across the electrical power value chain while also benefiting from solid demand in utilities, commercial aerospace and defense. Its diversified end-market exposure helps reduce dependence on any single industry.
Eaton is also emphasizing productivity, portfolio optimization and disciplined capital allocation. The planned separation of its Mobility business should allow greater focus on higher-growth, higher-return markets. At the same time, more than $1 billion of capacity investments and roughly two dozen Electrical Americas projects should support additional revenue growth as new facilities ramp.
For 2026, Eaton expects organic growth of 11-13%, segment margins of 24.1-24.5% and adjusted earnings of $13.40-$13.60 per share.
Encouraging Estimates for EatonThe Zacks Consensus Estimate for 2026 and 2027 revenues indicates a 19% and 10.9% year-over-year increase, respectively. The same for 2026 and 2027 earnings implies a 12.3% and a 17.5% year-over-year increase, respectively. The expected long-term earnings growth rate is pegged at 11.7%.
Image Source: Zacks Investment Research
Mixed Sentiment on EatonThe Zacks Consensus Estimate for ETN’s 2026 earnings per share has moved 2 cents north in the last seven days, while that for 2027 has moved 5 cents south in the same time.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Emerson’s 2026 and 2027 earnings per share has witnessed no movement in the last seven days. The same holds true for Powell.
Parting Thoughts on ETNEaton continues to deliver solid performance across its core businesses, supported by strong demand from expanding data center infrastructure. Continued research and development investments are fostering innovation, enhancing its product portfolio and addressing changing customer requirements. Strategic acquisitions are further strengthening Eaton’s technological capabilities and presence in high-growth markets.
Favorable earnings estimate revisions, healthy investment returns and a growing backlog support its long-term prospects. However, the stock’s premium valuation and mixed analyst sentiment keep us on the sidelines. Therefore, a wait-and-see approach appears appropriate for this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Equinix uvedl, že poptávka po datových centrech a interconnectu zrychluje díky AI. Firma zároveň zvýšila výhled růstu tržeb i zisku o tři procentní body.
Data Centers Got the AI Hype—But Office REITs May Get the Rent HikesEquinix NASDAQ: EQIX CFO Olivier Leonetti said the company sees strong demand for its data center and interconnection platform as artificial intelligence workloads increasingly require low-latency connectivity, global reach, neutrality and data sovereignty.
Speaking at an RBC communications infrastructure session, Leonetti said AI inference and so-called agentic AI represent a significant opportunity for Equinix because customers need access to interconnected ecosystems rather than simply compute capacity.
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3 Stocks Built for Higher Rates—And 2 That Could Break“This is our moment,” Leonetti said, citing the company’s global footprint, dense network of participants and interconnection capabilities. He said Equinix recently raised its outlook by three percentage points for both top-line and bottom-line growth and believes “the best is to come.”
AI Demand and Interconnection Leonetti said Equinix reported total sales velocity of about 30% in the second quarter and described demand as strong across enterprises, neocloud providers, cloud providers and large-language-model customers. The company is selectively managing demand, he said, seeking to maintain a diverse customer mix and nurture an ecosystem that supports long-term returns from deployed assets.
3 Ways to Play the Data Center Land GrabHe identified agentic AI as a major driver of future demand. Equinix estimates that agentic AI could account for 50% of AI demand within three years and represent 30% to 40% of data center activity over that period, according to Leonetti.
“We’re just at the start,” he said.
Interconnection demand is also benefiting from customers’ desire to move among AI models and cloud providers, he said. Leonetti said companies come to Equinix for access to an open ecosystem where they can connect with multiple participants rather than solely for compute capacity.
The company recently introduced Fabric One, an offering Leonetti said enables participants to connect with ecosystem partners in seconds, compared with roughly a month previously. While Equinix has not disclosed its pricing model for the product, he said the new offerings should command higher pricing because they provide additional value.
Leonetti also said the growing availability of open-source and open-weight AI models is favorable for Equinix. In his view, open models increase the need for customers to retain choice among providers and models, creating more demand for interconnection and access to a broad ecosystem.
Power Deployment and Supply Chain Equinix has been able to expand capacity despite broader concerns around data center power availability and community resistance to large projects, Leonetti said. He attributed the company’s progress to its comparatively smaller data center footprint, established relationships in local communities and long-standing partnerships with utilities, general contractors and power-management suppliers.
Leonetti said Equinix expects to deploy 40% more power this year than it anticipated at the beginning of the year. In 2026, the company expects to deliver twice the amount of power it delivered in 2025, he said.
He said long-term relationships with contractors and suppliers provide greater certainty around construction starts and equipment availability. Equinix has also placed long-term orders with key partners, according to Leonetti.
In response to a question about AI inference, Leonetti said orchestration activity is expected to occur more frequently in Equinix data centers, where proximity can support latency and economic requirements. He said power deployed per cabinet has risen about 60% recently, while some Equinix facilities have added more powerful racks to support edge-compute workloads.
Global Growth, Portfolio Strategy and Financing Leonetti said demand remains strong across the Americas, EMEA and Asia-Pacific, though the U.S. is currently growing somewhat faster. He attributed the difference to stronger economics and greater access to available space and power in the U.S., rather than weaker demand elsewhere.
Equinix plans to deploy 1 gigawatt of power between now and the end of 2029 and expects to have 2 gigawatts of land and power available after that period, Leonetti said. The company will continue to pursue land-and-power acquisitions opportunistically, he added, referencing its atNorth acquisition as an example.
Beyond physical infrastructure, Equinix is interested in smaller technology tuck-in acquisitions that can complement its interconnection offerings, Leonetti said. He described retail colocation, characterized by smaller footprints, dense ecosystems and higher returns, as the company’s primary focus, while xScale remains part of the portfolio.
On capital allocation, Leonetti said the company prefers debt financing and does not expect to need an equity issuance. He said Equinix has flexibility to delay capital expenditures if market conditions deteriorate and cited its relatively low leverage and ability to manage operating expenses as advantages.
While Leonetti acknowledged the possibility of a broader slowdown, he said the company currently sees no evidence of weakening demand or reduced investment by hyperscalers and neocloud providers. He said spending by those customer groups is 80% higher this year than in the prior year, according to his remarks.
About Equinix (NASDAQ:EQIX)Equinix, Inc is a global digital infrastructure company that operates data centers and provides colocation, interconnection and related services. Its International Business Exchange (IBX) data centers allow businesses, cloud providers, network operators, financial institutions and government organizations to deploy and connect critical information technology infrastructure.
The company's services include space, power and physical security for customer equipment, as well as private connections to cloud and network providers.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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SCI Engineered Materials za poslední rok vzrostla o 112,9 % a výrazně tak překonala odvětví i S&P 500. Tah podpořily silnější tržby, zisk i rostoucí poptávka.
SCI Engineered Materials, Inc.’s (SCIA - Free Report) investors have been gaining from the stock over the past year. Shares of the Columbus, OH-based global supplier and manufacturer of advanced materials for Physical Vapor Deposition (PVD) thin-film applications surged 112.9% in the past year compared with the industry’s 39.2% growth. It has also outperformed the sector and the S&P 500’s gains of 25.3% and 15.3%, respectively, in the same time frame.
Two major developments of SCIA in recent months include the installation of a Plasma Spheroidization System or PSS (in August) and the announcement of its promising second-quarter 2026 results (in July).
In the second quarter, SCI reported strong revenue and earnings growth, supported by higher raw material input costs, favorable product mix and increased volume. Higher revenues lifted gross profit and operating income, while net income also improved from the prior-year period. However, gross margin contracted as higher raw material costs and product mix weighed on profitability.
Management highlighted growing traction in key markets, supported by expanded marketing efforts, increased demand and new customers. SCIA also added manufacturing equipment and staff to support growth, while interest increased in services such as additive manufacturing debinding and specialty diffusion bonding.
SCIA’s One-Year Price Comparison
Image Source: Zacks Investment Research
Over the past year, the stock’s performance has remained strong, outperforming its peers like Ambarella, Inc. (AMBA - Free Report) and QUALCOMM Incorporated (QCOM - Free Report) . Ambarella and QUALCOMM’s shares have lost 19.2% and gained 10.6%, respectively, in the same time frame.
Despite broader risks from customer concentration, changing tariffs and potential supply-chain disruptions, the favorable share price movement suggests SCI is well-positioned to sustain its positive momentum at present.
SCI serves markets including aerospace, automotive, defense, glass, optical coatings and solar, while developing customized solutions in collaboration with end users and original equipment manufacturers.
SCIA's Product & Market ExpansionSCI’s installation of a PSS broadens its advanced-materials platform by enabling the production of high-purity spherical powders for additive manufacturing. The capability is particularly relevant for higher-value raw materials and can help customers meet feedstock qualification and quality requirements before scaling production. SCIA also highlighted applications across aeronautical, defense and biomedical markets, creating opportunities to extend its reach beyond its traditional PVD-focused business.
SCI is also broadening its value proposition through specialized manufacturing services. Its offerings include diffusion bonding, indium bonding, powder processing, engineering services, vacuum hot pressing and debinding. These capabilities allow SCIA to address customers with customized production requirements rather than relying solely on product sales. Growing interest in these services could deepen customer relationships and provide additional avenues for business development across specialized industrial applications.
SCI continues to invest in product development aimed at shortening commercialization timelines and expanding its portfolio. Its work includes conductive materials for architectural glass, automotive, defense, display and solar applications, along with rotatable targets and other specialty materials. SCIA’s patent portfolio covering sputter-target bonding processes and transparent conductive oxides provides an additional layer of differentiation that could support new applications and customer opportunities.
SCI's Demand & Financial StrengthSCI reported increased demand for its products and services, new-customer additions and stronger traction in key markets. Its backlog also expanded, suggesting improved order visibility. Recent operating performance supports this trend, with stronger volume and favorable product mix contributing to higher revenues, gross profit and net income.
SCI entered the second half of 2026 with a stronger cash position and positive operating cash generation. The company also maintained access to an undrawn credit facility. This liquidity provides flexibility to fund ongoing R&D, targeted marketing and broader growth initiatives without depending heavily on external financing, which can be particularly important as SCIA pursues new applications and customer opportunities.
Challenges Ahead of SCIASCIA faces two key challenges. First, customer concentration remains high, leaving SCI exposed to order reductions, delays or cancellations from a small number of major customers, which could materially affect revenues and profitability. Second, cost and supply-chain pressures also remain a risk, as inflation, tariffs and sourcing disruptions can raise labor, raw-material and transportation expenses, while the company may not always be able to fully pass those increases on to customers.
SCI Stock’s ValuationSCI's trailing 12-month EV/Sales of 0.9X is lower than the industry’s average of 15.6X but is higher than its five-year median of 0.6X.
Image Source: Zacks Investment Research
Ambarella and QUALCOMM’s trailing 12-month EV/Sales currently stand at 6.6X and 4.5X, respectively, in the same time frame.
Our Final Take on SCIASCI’s strong share-price performance has been supported by improving business momentum and expanding growth opportunities. Increased demand, new-customer additions and a higher backlog have strengthened the operating backdrop, while favorable product mix and higher volumes have supported recent results.
Product and market expansion are also supporting the stock. The addition of plasma spheroidization capabilities has broadened SCIA’s exposure to additive manufacturing and advanced-material applications, while specialized services such as bonding, debinding and powder processing are creating additional avenues for growth. Continued R&D and proprietary technologies further support the company’s positioning in niche markets.
However, sustaining the momentum will require continued execution. SCI remains exposed to high customer concentration, while inflation, tariffs and supply-chain disruptions could pressure costs and margins if higher expenses cannot be fully passed on to customers.
From a valuation standpoint, SCIA still appears inexpensive relative to the broader industry but is trading above its own historical norm. For investors, this suggests that the market has already begun to recognize the company’s stronger demand trends, expanding capabilities and improved growth prospects.
For existing shareholders, demand momentum, product expansion and financial flexibility provide support for staying invested. Prospective investors may also find the stock worth considering, although further upside will increasingly depend on SCI converting its new capabilities into sustained growth while managing customer concentration and cost pressures.
CECO ve 2. čtvrtletí zvýšila tržby v segmentu Engineered Systems o 35,2 % na 173,7 mil. USD, ale podle GAAP vykázala ztrátu 34,8 mil. USD kvůli akvizici Thermon. Tetra Tech mezitím zvedla provozní peněžní tok o 31 % na 467 mil. USD a snížila čistý dluh k EBITDA na 0,88x.
Key Takeaways CECO's Engineered Systems growth was driven by power projects, strong orders and backlog expansion.Tetra Tech gained from water, defense and digital projects while improving cash flow and leverage.CECO's debt rose after the Thermon buyout, pressuring GAAP results and margins. CECO Environmental Corp. (CECO - Free Report) and Tetra Tech Inc. (TTEK - Free Report) are two prominent names operating in the environmental and industrial services sector. As rivals, both companies operate in multiple industries with significant overlap in the pollution control, water treatment and consulting service markets.
These companies are poised to benefit from significant growth prospects in industrial and environmental services sectors, supported by higher investments in pollution control programs. But which company is better positioned to deliver upside moving ahead? Let’s compare their fundamentals, growth prospects and challenges to see which stock stands out now.
The Case for CECO EnvironmentalCECO is witnessing solid momentum in its Engineered Systems segment, driven by strength across power generation and natural gas infrastructure projects, along with its strong backlog execution. In the second quarter of 2026, the segment’s revenues surged 35.2% year over year to $173.7 million, constituting 60.9% of the company’s revenues.
Engineered Systems orders surged 200% year over year to $672.1 million. Its organic orders were up 173.8%, driven by strong demand for CECO’s energy and power technologies. Higher spending on energy infrastructure and growth across midstream and downstream markets supported demand for emissions-control and acoustic solutions.
Strength in the Industrial Process Solutions (IPS) segment remains another growth catalyst for CECO. In second-quarter 2026, revenues from the segment increased 8.4% year over year to $61.7 million, which accounted for 21.6% of its quarterly revenues. The revenue growth was supported by strong project execution on semiconductor and industrial ducting backlog.
CECO continues to see strong scrubber technology demand across semiconductor and international markets. The IPS segment’s orders reached $90.3 million in the second quarter, up 81% year over year, including 157% organic growth.
CECO’s backlog increased for 12 consecutive quarters and reached $1.8 billion at second-quarter 2026, with most expected to convert within one to two years. A significant share of the backlog comprises long-cycle power generation and gas infrastructure projects, while industrial process solutions provide additional diversification and help support cash generation.
While CECO’s adjusted results showed operational improvement, GAAP results were impacted by acquisition costs and purchase-accounting adjustments. The company reported a second-quarter 2026 GAAP net loss of $34.8 million against net income of $9.5 million a year earlier. Higher costs, including $45.5 million in acquisition and integration expenses and a $9.5 million inventory fair-value adjustment associated with the Thermon acquisition, pressured margins.
Rising debt levels remain another concern. The company exited second-quarter 2026 with $727.7 million of total outstanding borrowings, much higher than $212.4 million at 2025-end. This increase was primarily attributable to funds raised to support the Thermon buyout. At the end of the quarter, CECO’s net leverage was 2.7x trailing-12-month bank EBITDA, above its 2.0-2.5x target range.
The Case for Tetra TechTetra Tech is benefiting from multi-year investment in water, environmental and defense programs. In third-quarter fiscal 2026 (ended June 2026), net revenues from the Government Services Group segment (excluding USAID/DOS and episodic disaster response) rose 7% year over year, supported by water infrastructure and defense projects. The Commercial & International Services Group segment’s net revenues increased 9%, supported by strength in U.K. water and digital automation projects.
Management highlighted significant opportunities in the water sector, including the U.K. AMP8 cycle’s £105 billion investment through 2030 and more than £2 billion in contract capacity across the UK, the Netherlands and Ireland. Australia’s digital water investment plans and the recent PFAS treatment, hydropower, Army Corps engineering and water-monitoring awards further support demand for Tetra Tech’s services.
In January 2026, it completed the acquisition of Halvik, a leading provider of advisory consulting services. The inclusion of Halvik’s advanced data analytics, systems modernization and cybersecurity expertise boosted TTEK’s analytics and digital solutions portfolio.
The company remains committed to rewarding its shareholders through dividend payouts. In the first nine months of fiscal 2026, it paid out dividends of $52.5 million and repurchased about $202 million of common stock. It hiked the quarterly dividend rate by 11% in July 2026. Also, the company recently announced a significant expansion of its share repurchase program. The latest buyback authorization, along with the $398 million left under its existing program (as of June 28, 2026), brings the total share repurchase authority to $898 million.
TTEK’s operating cash flow rose 31% year over year to $467 million in the first nine months of fiscal 2026, while net debt to EBITDA improved to 0.88x from 0.96x. Strong cash generation supports shareholder returns, acquisitions and debt reduction efforts.
However, lower federal co-funding for flood protection remains a concern for its U.S. state and local markets. Also, TTEK expects Department of State work to continue at a conservative level. In U.S. commercial markets, growth in energy, mining and minerals projects has been partly offset by weaker renewable energy activity, including Atlantic Coast offshore wind program cancellations.
The Zacks Consensus Estimate for CECO & TTEK
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CECO’s 2026 earnings per share (EPS) implies year-over-year growth of 173%. CECO’s EPS estimates for 2026 have increased over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for TTEK’s 2026 EPS indicates year-over-year growth of 1.3%. TTEK’s EPS estimates have been stable over the past 60 days for 2026.
Price Performance and Valuation
Image Source: Zacks Investment Research
In the past three months, CECO shares have declined 17.5%, while Tetra Tech stock has gained 15.5%.
Image Source: Zacks Investment Research
CECO is trading at a forward 12-month price-to-earnings ratio of 22.71X, while TTEK’s forward earnings multiple sits at 19.09X.
Final TakeCECO’s strong foothold in power generation, gas infrastructure and semiconductors markets has been dented by rising operating expenses and premium valuation. Tetra Tech’s strength in the government and commercial sectors, accretive buyouts and strong liquidity position it for healthy long-term growth.
Both companies currently carry a Zacks Rank #3 (Hold). This makes choosing one stock a difficult task. Considering their long-term prospects, valuation and margin projections, TTEK seems to have an edge over CECO currently. While TTEK carries a VGM of C, CECO has a VGM of F.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SoFi Technologies jako první národní banka pod dohledem OCC spustila vypořádání ve stablecoinech přes síť Mastercard. Firma tím přesouvá roční kartový objem za 25 miliard USD na SoFiUSD.
Shares of SoFi Technologies Inc. (NASDAQ:SOFI) are trading flat Wednesday afternoon as investors weigh recent insider selling pressure against a major institutional milestone in the digital asset space.
Here’s what investors need to know.
SoFi Technologies stock is showing downward bias. Where are SOFI shares going? Historic Mastercard Stablecoin IntegrationOn Sept. 22, SoFi expanded its digital payment capabilities by becoming the first OCC-regulated national bank to go live with stablecoin settlement across Mastercard’s global payments network. The integration effectively shifts an annualized $25 billion card program onto stablecoin rails, utilizing the bank’s proprietary SoFiUSD token.
Because SoFiUSD is issued directly by SoFi Bank and backed one-to-one by cash reserves, the backend migration allows the company to streamline cross-border settlement, free up trapped liquidity, and cut transaction latency. Crucially, the technology operates entirely beneath the swipe, meaning retail consumers and merchants do not need to hold digital assets, build new blockchain infrastructure, or alter their everyday payment habits.
"In six months, SoFi and Mastercard took stablecoin settlement from an idea to a live product that materially improves how money moves for businesses," said Anthony Noto, CEO of SoFi. "Merchants do not need to hold stablecoins, build new infrastructure or change how they operate. Through SoFi’s Big Business Banking platform, any merchant can receive settlement funds instantly in a SoFi Bank account and withdraw to cash around the clock and at zero cost. That means businesses have faster access to their money via the speed of blockchain, with the safeguards of a bank."
Moving forward, the companies plan to pursue additional SoFiUSD applications across the Mastercard ecosystem, specifically targeting cross-border payments and remittances. Furthermore, SoFi indicated it intends to offer these stablecoin settlement capabilities to external financial companies through its Galileo technology platform.
Payward Alliance Deepens Crypto FootprintThe Mastercard integration followed another corporate milestone earlier in the month. On Sept. 3, SoFi announced a strategic partnership with Payward Inc., the parent company of cryptocurrency exchange Kraken, to connect banking and digital asset markets.
Under the agreement, Payward joined the SoFi Exchange Network to list SoFiUSD on its multi-asset trading platform. Simultaneously, SoFi tapped Kraken Prime to serve as its primary engine for institutional digital asset trade execution. The dual-sided integration broadens SoFi’s liquidity pool and strengthens its footprint within the regulated digital asset ecosystem.
SOFI Stock Pauses Wednesday AfternoonSOFI Price Action: SoFi Technologies shares were down 0.57% at $15.82 at the time of publication on Wednesday, according to Benzinga Pro data.
Key Takeaways MTZ posted record second-quarter revenues of $4.4 billion and an 18-month backlog of $21.4 billion.Clean Energy, Power Delivery & Pipeline Infrastructure all delivered strong year-over-year revenue growth.The Superior Group acquisition expands MTZ's electrical capabilities and exposure to data-center projects. MasTec, Inc. (MTZ - Free Report) is building momentum across several of the infrastructure markets benefiting from rising power demand, AI-driven data-center investment and grid modernization. Management believes the company is in the early stages of a major infrastructure investment cycle, with opportunities spanning electrical infrastructure, power generation, natural gas, industrial construction and connectivity.
The second-quarter results support that outlook. Revenues increased 23% year over year to a record $4.4 billion, while adjusted EBITDA jumped 40% to $384 million. MasTec also ended the quarter with a record 18-month backlog of $21.4 billion, up 30% year over year, providing strong visibility into future activity.
Importantly, growth is broad-based. Clean Energy and Infrastructure revenues surged 43.4%, Power Delivery advanced 19.2% and Pipeline Infrastructure increased 19.1%. Demand remains particularly strong around transmission, grid hardening, renewables, power generation and mission-critical infrastructure.
The acquisition of The Superior Group further expands MasTec’s electrical capabilities and exposure to data centers. Superior’s roughly 3,000 employees and mission-critical expertise should also strengthen MasTec’s ability to offer larger, integrated infrastructure solutions.
MasTec raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and adjusted earnings per share (EPS) of $9.30. Still, Communications faces near-term project deferrals and weaker profitability. Overall, record backlog, expanding electrical capabilities and diversified exposure to durable infrastructure trends leave MasTec well positioned to participate meaningfully in the next investment cycle.
Quanta and EMCOR Compete for the Infrastructure Growth OpportunityMasTec faces strong competition from Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) as spending accelerates across power, electrical infrastructure, data centers and other mission-critical markets.
Quanta has broad capabilities in electric transmission, distribution, substations and energy infrastructure, positioning it to benefit from grid modernization, electrification and rising utility capital spending. Quanta also competes for large, complex projects where scale, skilled labor and customer relationships are critical.
EMCOR Group is another important rival, particularly across electrical and mechanical construction tied to data centers, advanced manufacturing and other complex facilities. EMCOR Group’s diversified operations and strong presence in mission-critical construction give it exposure to many of the same structural demand drivers supporting MasTec. As infrastructure spending expands, EMCOR Group could capture significant project opportunities alongside MasTec.
Both Quanta and EMCOR Group therefore intensify competition for labor, project awards and customer relationships, potentially affecting bidding conditions and margins.
MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have plunged 3.3% year to date (YTD), underperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.
MTZ Price Performance (YTD)
Image Source: Zacks Investment Research
MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 17.58, as shown in the chart below.
MTZ Valuation (P/E F12M)
Image Source: Zacks Investment Research
EPS Trend of MTZMTZ’s earnings estimates for 2026 have trended upward over the past 60 days to $9.30 per share, while the same for 2027 dropped to $12.83 over the same time frame. The estimated figures for 2026 and 2027 imply 42% and 37.9% year-over-year growth, respectively.
SoundHound podepsal smlouvy se třemi velkými americkými restauračními řetězci a obnovení klíčových účtů dosáhlo 100 %. Ve 2. čtvrtletí výnosy meziročně vzrostly o 45 % na 61,9 milionu USD.
Key Takeaways SoundHound signed three major U.S. restaurant chains as key-account renewal rates reached 100%.A major pizza chain now has SoundHound technology live in more than 75% of its thousands of stores.SOUN's QSR momentum comes as second-quarter revenues rose 45% year over year to $61.9 million. SoundHound AI (SOUN - Free Report) is strengthening its position in restaurant automation as demand for voice AI expands across quick-service restaurants (QSRs). During the second quarter of 2026, the company signed three major U.S. restaurant chains, while restaurant renewal rates reached 100% for key accounts. Location counts also increased across customers including Jersey Mike’s, Five Guys and IHOP. A major pizza chain with thousands of stores now has SoundHound technology live in more than 75% of its locations.
The broader restaurant pipeline remains encouraging. SoundHound disclosed new deals with a large seafood QSR, Ruby Tuesday, a major American-style Mexican QSR and a sushi restaurant. It also renewed agreements with Habit Burger, Red Lobster and Torchy’s Tacos, while Lazy Dog expanded its use of Smart Answering and Smart Ordering. This combination of new customer wins, renewals and store-level expansion supports SoundHound’s land-and-expand strategy.
Importantly, management said a well-known QSR customer continues to see higher revenues at drive-thru locations using SoundHound AI compared with comparable locations without the technology. Improving performance metrics could encourage broader deployments across existing restaurant chains. SoundHound also sees cross-selling opportunities through OASYS, including IT help desk and guest-relations services.
The restaurant momentum comes as SoundHound’s overall business scales rapidly. Second-quarter revenues increased 45% year over year to $61.9 million, while GAAP gross margin improved to 45.1%. Continued QSR wins and wider rollouts could therefore make restaurants an increasingly important contributor to SoundHound’s long-term growth.
Competitive Pressure in Restaurant AISoundHound faces competition from Toast (TOST - Free Report) and PAR Technology (PAR - Free Report) as restaurant operators increasingly adopt AI-enabled ordering and automation.
Toast has strengthened its QSR presence with Toast Drive-Thru, an enterprise solution combining hardware, restaurant software and AI voice-ordering integrations. Toast also supports AI-powered ordering through partners such as Incept AI, while its broad POS ecosystem can make Toast attractive to restaurant chains seeking an integrated technology stack.
PAR Technology is another relevant competitor given its deep exposure to large restaurant chains. PAR Technology provides POS, digital ordering, loyalty, drive-thru and AI-powered restaurant tools, with more than 140,000 restaurant locations using PAR ordering technology. PAR Technology is also embedding AI across its restaurant platform to deliver real-time operational insights and automation. While Toast and PAR Technology have broader restaurant ecosystems, SoundHound’s specialization in conversational and voice AI could help differentiate its offering as QSR chains expand automated ordering.
SOUN’s Price Performance, Valuation & EstimatesSoundHound’s shares have lost 41.4% year to date (YTD), underperforming the industry, as shown below.
SOUN’s YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, SOUN trades at a forward price-to-sales (P/S) multiple of 9.26, slightly lower than the industry’s average.
SOUN’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
Over the past 60 days, the Zacks Consensus Estimate for SoundHound’s 2026 and 2027 loss per share has narrowed to 19 cents and 14 cents, respectively, as shown below. The expected loss for 2026 remains wider than the previous year’s loss of 13 cents per share.
Image Source: Zacks Investment Research
SOUN currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Reddit ukončí podporu RSS feedů 13. listopadu a veřejný přístup k API do března 2027 kvůli scrapingovým botům a automatizovanému zneužívání. Ve 2. čtvrtletí mu ostatní tržby meziročně vzrostly o 24 % na 43 milionů USD.
Amid a number of updates for moderators and developers announced Wednesday, comes bad news for supporters of a more open web: Reddit is ending support for RSS feeds.
Reddit says RSS has now become a “common surface for large-scale scraping and automated abuse,” which is why it’s made the decision to wind down RSS feeds on its platform.
“We know RSS has been a beloved part of the open web for a long time, and we’re grateful to everyone who used it to stay connected to Reddit,” the company noted in its announcement, where it also shared a March 2027 shutdown date for its public API.
Reddit said RSS support will cease on November 13.
RSS, or Really Simple Syndication/Rich Site Summary, is a web feed that lets users and applications access updates to a website in a standardized format. The format became particularly popular in the blogging era, as it offered a way to subscribe to a site’s new posts in a news-reading app. Google once operated the most popular of these, but shut it down in 2013, ceding the market to companies like Feedly and other indie applications.
The decision to kill Reddit’s RSS feeds comes at a time when the site’s treasure trove of user-generated content in its forums has become a profitable side business for the company in the form of AI licensing deals.
During its second quarter, Reddit said its “other revenue” beyond advertising had grown 24% year-over-year to $43 million. It’s no wonder that Reddit doesn’t want to give any of that data away for free.
For moderators who have relied on RSS channels for their own alerts, Reddit is now recommending a shift to the Discord Relay Devvit app. The company suggested that moderators and their teams review their setups and migrate their workflows before the shutdown date of November 13 to ensure there’s no disruption. However, Reddit said that there’s no replacement for the use of RSS feeds that were being used for feeds outside of the moderators’ community.
Moderators have already expressed worry about how this shift would impact their workflow. When Reddit hinted earlier that it was preparing for the end of RSS on its site, many responded by complaining that Reddit would become unmanageable for them. Meanwhile, many users stressed that RSS was how they enjoyed accessing Reddit’s content.
The RSS change was one of several updates issued on Wednesday by the company. Another big change will be the end of its public API.
Public API access will also end by March 2027, which will impact any tools that used it for programmatic access to Reddit conversations, including social listening products, those used by researchers, and AI products, such as AI assistants. Today, those assistants can use Reddit to answer questions, but after closing public API access, they will need commercial deals with Reddit for its data.
In addition, Reddit provided an update on its Rules Hub progress and auto-mod changes, and said it was “adding safeguards” to its classic, text-heavy version of its site known as Old Reddit. The latter will include limiting access to logged-in moderators and recent users — changes Reddit also said were required because of “abusive scraping and automated traffic.”
Reddit said in the next few months it will limit access for logged-in users to those who have used Old Reddit in the last 90 days.
The company also reminded developers building approved third-party apps and bots to register them with the company before January 12, 2027, to avoid disruption. After that date, Reddit will remove API access for any developer that hasn’t registered.
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Sarah has worked as a reporter for TechCrunch since August 2011. She joined the company after having previously spent over three years at ReadWriteWeb. Prior to her work as a reporter, Sarah worked in I.T. across a number of industries, including banking, retail and software.
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Akcie MP Materials vzrostly o 6 % poté, co investoři ocenili pokrok v magnetech a růstový potenciál kritických minerálů. Firma už dodala magnety General Motors a komerční dodávky čeká ve 4. čtvrtletí roku 2026.
MP Materials just clawed back from a brutal month-long slide, and the reason behind Wednesday's surge points to a high-stakes bet on American magnet manufacturing that could either redefine the company or expose how much depends on forces outside its…
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MP Materials (NYSE:MP) stock surged 6% to $48.29 on Wednesday as traders weighed the company’s critical minerals growth story. USA Rare Earth (NASDAQ:USAR) shares rose 3% to $14.44, while Critical Metals (NASDAQ:CRML) stock stayed essentially flat, up 0.1% to $7.39. Rare-earth names showed selective strength after a recent sector pullback.
The VanEck Rare Earth and Strategic Metals ETF (NYSE ARCA:REMX) slipped 0.57% to $64.42. Broader markets advanced, with the SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) up 0.47% to $767.80. MP Materials has drawn attention this week as second-quarter operating progress and near-term magnet shipments to General Motors kept the growth narrative intact. Outside commentary continues to question whether the stock’s valuation depends heavily on government support, while investors watch fourth-quarter commercial magnet deliveries as the next major proof point.
MP Materials Rebounds on Magnet Progress MP Materials shares recovered ground after a sharper decline over the prior month that left the stock down roughly 21%. The company has advanced its downstream magnetics strategy, with magnets already delivered to General Motors for in-vehicle qualification and regulatory testing. Commercial shipments are expected to begin in the fourth quarter of 2026 from the Independence Facility in Fort Worth, Texas.
Second-quarter results showed revenue rising 89% year over year, NdPr production up 41%, and adjusted EBITDA turning positive. The Magnetics segment continues to scale as MP Materials shifts from magnetic precursor products toward finished neodymium-iron-boron magnets under its long-term supply agreement with General Motors.
USA Rare Earth Advances, Critical Metals Holds Steady USA Rare Earth stock posted a solid gain. The company is developing a domestic rare-earth supply chain focused on mining and magnet production outside China. USA Rare Earth shares have moved with broader interest in U.S.-based critical minerals projects even as individual catalysts differ across the group.
Critical Metals stock remained nearly unchanged. Critical Metals holds an early-stage rare-earth project in Greenland that has attracted attention amid recent geopolitical developments, though the company remains at a different stage of development than more advanced producers. Both USA Rare Earth and Critical Metals operate within the same strategic metals theme but lack MP Materials’ established mining and near-term commercial magnet production.
Rare Earth Group Reflects Selective Interest The VanEck Rare Earth and Strategic Metals ETF’s modest decline indicated limited broad participation beyond the leading names. Texas has emerged as a growing hub for America’s rare-earth supply chain, with MP Materials’ Fort Worth magnet facility representing a visible piece of the domestic buildout. Demand drivers include electric vehicles, defense applications, and electronics, yet the sector remains sensitive to policy shifts and commodity pricing.
Similarities among MP Materials, USA Rare Earth, and Critical Metals include exposure to efforts to reduce reliance on Chinese rare-earth processing and magnet production. Differences center on operational maturity, with MP Materials already producing oxides at Mountain Pass and preparing commercial magnet shipments, while the peers remain earlier in their development timelines. Valuation debates continue to focus on the role of government financing and offtake support.
MP Stock: What to Look For Now MP Materials’ rebound highlights ongoing interest in its path from mining and processing into higher-value magnet manufacturing. Fourth-quarter commercial deliveries to General Motors represent a key milestone that could help validate the downstream strategy. At the same time, the stock’s sensitivity to sector sentiment and questions around long-term profitability without policy support remain points of caution.
Investors in MP Materials stock should consider keeping position sizes modest given the volatility typical of critical minerals equities. Successful ramp of magnet production, sustained offtake agreements, and further operating improvements could support MP Materials shares, while delays in commercial shipments or weaker rare-earth pricing may renew pressure across the group.
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Sandisk ve fiskálním roce 2026 rozjela BiCS 8, připravuje BiCS 10 a investuje do HBF pro AI úložiště. Datová centra tvořila 38 % bitového mixu, proti zhruba 12 % před rokem.
Key Takeaways Sandisk is ramping BiCS 8, preparing BiCS 10 and investing in HBF for emerging AI storage architectures. Datacenter reached 38% of Sandisk's bit portfolio as enterprise TLC SSDs and QLC Stargate gained traction. Micron expands QLC and Gen 6 SSDs, while Seagate scales HAMR-based Mozaic drives for AI storage. Sandisk Corporation (SNDK - Free Report) is benefiting from continued innovation across NAND flash and enterprise storage products, strengthening its position in artificial intelligence (AI), cloud and edge markets. In fiscal 2026, SNDK ramped BiCS 8 to the majority of its bit production, improving performance, density and power efficiency across TLC and QLC products. The company is also preparing to ramp BiCS 10 while investing in high-bandwidth flash (HBF), which management believes could play a larger role in emerging AI memory and storage architectures. These initiatives strengthen SNDK’s competitive position against Micron Technology (MU - Free Report) and broader data-storage rival Seagate Technology (STX - Free Report) .
Sandisk’s expanding enterprise SSD portfolio is helping it capitalize on rising AI infrastructure requirements. The company scaled compute-focused TLC enterprise SSDs across a broad range of hyperscale and AI infrastructure customers and began generating revenues from its QLC Stargate platform in the fourth quarter of fiscal 2026. This gives SNDK exposure to performance-intensive compute workloads and high-capacity AI data lakes.
Datacenter accounted for 38% of SNDK’s bit portfolio exiting fiscal 2026, up from roughly 12% a year earlier. Management also expects Datacenter to rise to roughly 50% in 2026 from about 30% of NAND market TAM in calendar 2025 and continue outpacing the broader market in 2027.
Technology expansion beyond Datacenter provides another growth avenue. Sandisk serves smartphones, PCs, automotive, robotics and other edge applications, where AI-enabled devices and premium configurations are expected to increase storage content. Its vertically integrated model, spanning NAND design, manufacturing partnerships, controller development, system-level engineering and back-end assembly, allows the company to optimize performance and costs across the storage value chain.
The company targets mid-to-high-teens bit-supply growth, primarily through technology-node transitions rather than wafer additions. For fiscal 2027, capital spending is expected to increase year over year as BiCS 8 and BiCS 10 ramp, while investment relative to revenue is expected to decline to approximately 6%.
SNDK Faces Tough CompetitionMicron Technology competes directly with Sandisk in NAND, QLC and enterprise SSDs. MU generated roughly $5 billion in data-center SSD revenues in the third quarter of fiscal 2026 and cited record share gains in the category. It is expanding QLC products, PCIe Gen 6 SSDs and 245-terabyte drives, while its HBM, high-capacity DIMMs and LPDRAM portfolio gives it broader exposure to AI infrastructure. Micron Technology also highlighted its leadership in SOCAMM and said its strategic customer agreements are expected to cover roughly one-third of NAND bits at the company’s target level, supporting longer-term demand visibility.
Seagate Technology challenges Sandisk from the mass-capacity side through its HAMR-based Mozaic portfolio. Data-center demand represents about 90% of STX’s exabyte shipments, while the vast majority of nearline exabytes are allocated into calendar 2028. Mozaic 3 is qualified across major cloud customers; Mozaic 4 supports up to 44TB per drive and is ramping with leading CSPs, while Mozaic 5 qualification shipments are targeted for late 2027. Seagate Technology’s focus on tiered AI storage could capture a larger share of hyperscale storage spending alongside SSDs.
SNDK’s Share Price Performance, Valuation & EstimatesSandisk shares have appreciated 630.2% year-to-date, outperforming the broader Zacks Computer and Technology sector’s 21.8% growth.
SNDK Stock’s Price Performance
Image Source: Zacks Investment Research
SNDK stock is trading at a discount, with forward 12-month price/sales of 4.91X compared with the Computer- Storage Devices industry’s 3.21X. Sandisk has a Value Score of C.
SNDK’s Valuation
Image Source: Zacks Investment Research
For fiscal 2027, the Zacks Consensus Estimate for Sandisk’s earnings is currently pegged at $213.31 per share, up by a cent over the past 30 days, suggesting 200.95% growth from the year-ago estimate.
Sandisk currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Serve Robotics snížila výhled tržeb pro rok 2026 na 9–10 mil. USD z 26 mil. USD kvůli slabšímu růstu dodávek Uberu. Současně omezila plánované provozní náklady na 140–150 mil. USD i kapitálové výdaje na zhruba 15–17 mil. USD.
Key Takeaways SERV cut 2026 revenue guidance to $9-$10M from $26M as expected Uber delivery growth failed to materialize.Serve Robotics lowered 2026 non-GAAP operating expense guidance to $140-$150M and capex to about $15-$17M.SERV expects softer 2H software revenues, keeping utilization and monetization central to margin improvement. Serve Robotics Inc. (SERV - Free Report) is reducing planned spending after lowering its 2026 revenue outlook to $9-$10 million from $26 million. The revision reflects declining second-quarter delivery revenues and, primarily, the removal of a substantial second-half increase in Uber delivery volumes assumed in the earlier guidance. Serve Robotics attributed the Uber volume decline largely to differences in fleet coordination, merchant integration and the operating model, while customer and merchant demand remained steady.
To align spending with the revised plan, Serve Robotics lowered its 2026 non-GAAP operating expense guidance to $140-$150 million from $160-$170 million and planned capital expenditures to approximately $15-$17 million from about $25 million. The reductions involve headcount discipline, more efficient spending on deployment infrastructure and tighter discretionary expenses, with the effects expected to become increasingly evident in the second half. The company is also evaluating opportunities to consolidate overlapping general and administrative functions and shared services through the Diligent Robotics integration while maintaining investment in core autonomy and software.
Revenue diversification supported second-quarter results, with total revenues rising 9% sequentially to approximately $3.2 million as other channels more than offset lower delivery revenues. DoorDash deliveries grew nearly 50% sequentially, and recurring revenues accounted for more than half of total revenues. Hospital robotics generated contracted revenues at strong margins, while advertising contributed nearly half of robotic food-delivery revenues at attractive margins. However, Serve Robotics expected software revenues to soften in the second half of 2026.
Lower operating expense and capital expenditure guidance reduces planned spending under Serve Robotics’ revised outlook. Sequential fleet gross margin improvement also reflects progress in cost discipline and operational efficiency despite weaker Uber delivery volumes. However, the company’s stated path toward positive gross margins includes higher revenue per robot per operating hour, improved productivity and a greater contribution from recurring software and platform revenues. Lower spending supports the revised plan, but stronger utilization and monetization remain essential to improving the financial model.
SERV’s Price Performance, Valuation & EstimatesShares of Serve Robotics have declined 60.2% over the past year compared with the industry’s fall of 22.4%. At the same time frame, other industry players, such as Vertiv Holdings Co. (VRT - Free Report) , have jumped 64.6%, while BigBear.ai Holdings, Inc. (BBAI - Free Report) has lost 59.4%.
SERV’s Stock One-Year Price Performance
Image Source: Zacks Investment Research
SERV stock is currently trading at a premium. It is currently trading at a forward 12-month price-to-sales (P/S) multiple of 22.45, well above the industry average of 11.28. Then again, other industry players, such as Vertiv and BigBear.ai, have P/S ratios of 5.59 and 7.96, respectively.
SERV’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Serve Robotics’ 2026 loss per share has widened from $2.64 to $2.71 in the past 60 days.
EPS Trend of SERV Stock
Image Source: Zacks Investment Research
The company is likely to report dismal earnings, with projections indicating a 66.3% fall in 2026. Conversely, industry players like Vertiv and BigBear.ai are likely to witness growth of 59.3% and 67.1%, respectively, year over year in 2026 earnings.
SERV’s Zank RankSERV stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Space Exploration Technologies (SPCX +1.28%), better known as SpaceX, has been one of the most-watched companies of the year. A few months ago, and after much anticipation, the tech and industrial giant launched the biggest-ever initial public offering, raising $85 billion after the exercise of an overallotment option and entering the market with a trillion-dollar valuation.
Investors were eager to get in on the company due to its involvement in three high-growth businesses -- and possibly benefit from the innovative spirit of its leader, Elon Musk. But SpaceX hasn't remained at its high of more than $200, and today the pullback sets up a classic buy-the-dip case for long-term investors. Let's find out more.
Image source: Getty Images.
SpaceX's businesses work well together We'll start by considering SpaceX's businesses, ones that overlap, allowing for shared strategies, efficiencies, and growth. The company operates a space unit focused on rocket launches, a satellite connectivity business called Starlink, and an artificial intelligence (AI) unit. How do they work together? The space unit's rockets may be used to accomplish the goals of the other two, carrying satellites and eventually infrastructure for data centers to space. And Starlink, the company's major revenue engine, helps fund operations and growth.
SpaceX has big ambitions across its businesses. In space, it aims to significantly bring down the cost of launches through the use of fully reusable rockets. And just this week, it reached a major milestone, sending reusable rocket Starship into orbit with 26 new Starlink satellites. This was the rocket's 14th test flight and first time in orbit.
Starship's ability to transport satellites to space is key to Starlink's growth and, therefore, to the company's overall revenue growth. In the latest quarter, Starlink revenue climbed 65% to more than $4 billion, and that's on a total of $7.8 billion in revenue for the entire company.
"It's not out of the question that at some point, Starlink will deliver a majority of the world's Internet," Elon Musk said in the earnings call, noting that could be less than 10 years away.
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SpaceX's capital spending in AI reaches $15 billion Starship's strength is also crucial for any eventual build-out of data centers in space, something that could be a major revenue driver for SpaceX down the road. Today, SpaceX is pouring most of its capital spending into the AI unit, with the latest AI capex at about $15 billion out of a total of $18 billion. So it's clear that SpaceX must seek to significantly monetize this investment in the future.
SpaceX reported a 92% increase in overall revenue in the latest quarter, but as should be expected from a company investing this much in research, it's operating at a loss. A bright spot is that this loss narrowed to $541 million from $1 billion in the year-earlier period.
Now, let's consider the stock's performance. SpaceX priced at $135, opened at $150, and in the days that followed its debut, soared to a high of $225. Since, however, it's retreated from that high and now trades around $145. While some investors eagerly rushed to get in on SpaceX for the reasons I mentioned above, others have hesitated to buy -- or have even bought and then sold -- due to the risk that goes along with this investment.
In its prospectus, SpaceX itself even said that some of its goals rely on new technologies that haven't yet been proven, and therefore the timeline to achieve these goals "may be difficult or impossible to determine."
Meanwhile, investors have focused on the significant capex, particularly in the AI unit. All of this may have weighed on appetite for the stock. And it's true that SpaceX isn't the best investment for every investor -- those who are risk-averse or have a cautious investment style are better off looking elsewhere. But for very aggressive investors who aim to hold on for the long term, SpaceX's pullback from $225 sets up a classic buy-the-dip case.
SVB Wealth LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,720 shares of the social networking company’s stock after selling 1,057 shares during the quarter. Meta Platforms makes up approximately 1.0% of SVB Wealth LLC’s holdings, making the stock its 22nd biggest holding. SVB Wealth LLC’s holdings in Meta Platforms were worth $16,741,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Auto Owners Insurance Co boosted its holdings in shares of Meta Platforms by 76,587.7% during the fourth quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock worth $69,502,379,000 after purchasing an additional 105,154,977 shares during the last quarter. Geode Capital Management LLC increased its stake in Meta Platforms by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 52,806,712 shares of the social networking company’s stock valued at $34,734,628,000 after purchasing an additional 878,396 shares during the last quarter. Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at $22,152,075,000. Bank of America Corp DE lifted its position in Meta Platforms by 14.6% during the first quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company’s stock worth $12,036,491,000 after buying an additional 2,673,494 shares during the period. Finally, Invesco Ltd. lifted its position in Meta Platforms by 6.1% during the fourth quarter. Invesco Ltd. now owns 18,200,469 shares of the social networking company’s stock worth $12,013,948,000 after buying an additional 1,046,715 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Up 3.3% Shares of NASDAQ META opened at $739.43 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82. The stock’s 50-day simple moving average is $618.47 and its 200-day simple moving average is $613.86. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.25 and a beta of 1.25.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business had revenue of $60.80 billion during the quarter, compared to analysts’ expectations of $60.22 billion. During the same period in the prior year, the company posted $7.14 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 27.94 earnings per share for the current fiscal year. Meta Platforms Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s dividend payout ratio is 7.91%.
Insider Activity at Meta Platforms In related news, CTO Andrew Bosworth sold 7,848 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the sale, the chief technology officer directly owned 828 shares of the company’s stock, valued at $462,024. This represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total transaction of $2,012,047.56. Following the transaction, the chief operating officer owned 9,498 shares in the company, valued at $5,708,013.06. This trade represents a 26.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 150,307 shares of company stock worth $101,851,357. 13.53% of the stock is currently owned by insiders.
Meta Platforms News Summary Here are the key news stories impacting Meta Platforms this week:
Positive Sentiment: Meta expanded Muse for Small Business, adding integrations with Shopify, QuickBooks, Stripe, Canva, Dropbox and Slack. The initiative could create subscription, transaction and enterprise-software revenue streams while reducing the company’s reliance on digital advertising. Meta expands Muse AI agent for small businesses Positive Sentiment: Analysts highlighted Muse’s rapid adoption and potential to become a multibillion-dollar growth catalyst. Its integration with Meta’s large Facebook, Instagram, Messenger and WhatsApp user base may support future subscriptions, commerce fees, advertising improvements and AI-api revenue. Beyond advertising: analysts align on Meta Muse Positive Sentiment: Meta’s push into business AI was reinforced by its new Meta Enterprise Platform and the hiring of former MongoDB CEO Chirantan “CJ” Desai to lead the effort. The move signals an attempt to monetize substantial AI infrastructure spending through corporate customers. Meta launches enterprise AI platform Positive Sentiment: Monness Crespi & Hardt raised its META price target to $830 from $730 and maintained a Buy rating. Analysts also point to AI-driven increases in advertising engagement, clicks and conversions as evidence that current investments may strengthen Meta’s core business. Meta Platforms price target raised Neutral Sentiment: Meta CEO Mark Zuckerberg sold 27,474 shares for approximately $21.4 million under a pre-arranged Rule 10b5-1 plan. Because the sale was scheduled in advance, it is not necessarily a signal about the company’s outlook. Mark Zuckerberg sells Meta shares Negative Sentiment: OpenAI unveiled its always-on Dots agents, creating a direct competitive threat to Muse in consumer and enterprise AI. Reports that Muse exposed private information, including a user’s address, also raise privacy, safety, regulatory and reputational risks. OpenAI unveils Dots agents Negative Sentiment: Investors continue to weigh Meta’s sharply higher AI and data-center expenses against uncertain returns. The company also faces scrutiny over teen safety, data practices and potential regulation, which could increase costs or constrain monetization. Wall Street Analyst Weigh In Several analysts have commented on the company. Arete Research lifted their price target on Meta Platforms from $735.00 to $806.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Loop Capital boosted their target price on shares of Meta Platforms from $740.00 to $955.00 and gave the company a “buy” rating in a report on Thursday, September 24th. HSBC cut their price target on shares of Meta Platforms from $905.00 to $830.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and set a $725.00 price objective (down from $815.00) on shares of Meta Platforms in a report on Thursday, August 27th. Finally, Evercore increased their target price on Meta Platforms from $820.00 to $860.00 in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $787.86.
Read Our Latest Research Report on META
Meta Platforms Company Profile (Free Report)
Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.
Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.
Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.
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SEC schválila plán Tesly, který společnostem umožní automaticky zapojit drobné investory do hlasování v souladu s doporučením vedení. Aktivisté varují, že to oslabí jejich vliv.
Wall Street's top regulator backed a plan developed by electric carmaker Tesla (TSLA.O) allowing companies to have investors opt to cast proxy votes in line with management automatically, worrying corporate activists, who say it will further diminish their influence.
The program builds on an arrangement created by Exxon XOM.N last year. Both aim to increase the traditionally low participation rate of retail investors in corporate annual meeting elections, now around 30%, to closer to the 77% rate of institutional investors. Retail investors tend to vote with management but exhibit a "rational apathy" to casting ballots since individually they own tiny proportions of equity.
Shareholder activists said the program, along with other steps by the SEC, currently operating with only Republican commissioners, would unnecessarily diminish their influence. It is one of a number of steps under the Trump administration to shift power away from investors to corporate executives and boards.
In a letter to the US Securities and Exchange Commission dated September 29, Tesla outlined what it called an "issuer voluntary retail voting program" based on "extensive discussions" with SEC staff.
The program would save money issuers currently spend soliciting retail votes, Tesla said. It spent more than $2 million rounding up mom-and-pop support at its two most recent annual meetings, including one designed to gain backing for CEO Elon Musk's pay package.
Currently investors often cast ballots via website, mail or phone, methods Tesla said its program would supplement. "Without a user-friendly way to vote, the proxy voting system disproportionately affects the vote and voice of retail investors," Tesla said in its letter.
In a same-day response, an official in the SEC's Division of Corporation Finance, Tiffany Posil, approved Tesla's plan and said the action applies to any other issuer.
Private investor James McRitchie, who often sponsors critical shareholder resolutions, said in an email that a better reform would allow shareholders to choose among their own priorities. These might include climate protection or limiting executive pay.
As approved by the SEC, the change is "blatantly one-sided," McRitchie said.
The SEC declined further comment. Tesla did not respond to requests for comment.
Key Takeaways Alphabet's Google Services revenues rose 15% year over year to $94.5 billion in Q2 2026. AI Mode topped 1 billion monthly active users, driving incremental Search queries for Alphabet. YouTube ad revenues climbed 13% to $11.1 billion, while subscriptions supported Alphabet's growth. Alphabet (GOOGL - Free Report) is benefiting from strong momentum across Google Services, supported by robust Search, YouTube, and subscription growth. This strengthens the company’s competitive position against Meta Platforms (META - Free Report) and Apple (AAPL - Free Report) .
In the second quarter of 2026, Google Services revenues increased 15% year over year to $94.5 billion, driven by 17% growth in Google Search & other, 15% growth in subscriptions, platforms and devices and 13% growth in YouTube advertising revenues. Google Services operating income also rose 20% to $39.5 billion, with margin reaching 41.8%, highlighting solid profitability alongside revenue expansion.
AI integration is strengthening Search engagement and monetization. In the second quarter of 2026, AI Mode has surpassed 1 billion monthly active users and is driving incremental Search queries. Gemini is also being integrated across the advertising infrastructure to improve query understanding and ad relevance. Advertisers using AI-powered campaigns such as AI Max or Performance Max are seeing an average 15% increase in conversions or conversion value at a similar return on ad spend.
YouTube is another key growth driver. Advertising revenues increased 13% to $11.1 billion, while YouTube Music and Premium supported strong subscription growth. Google subscriptions, platforms and devices revenues increased 15% to $12.91 billion, aided by Google One and demand for AI plans.
Continued AI integration across Search, YouTube and subscriptions should support Google Services growth and help Alphabet strengthen its competitive standing against Meta Platforms and Apple. Management expects Google Services to continue benefiting from AI-driven improvements to the user and advertiser experience in the second half of 2026.
How Competitors Fare Against GOOGLMeta Platforms is challenging Alphabet through its AI-powered recommendations and advertising tools across Facebook, Instagram, WhatsApp and Threads. Its massive user base and AI-driven ad infrastructure make it a major rival to Alphabet for digital advertising budgets and consumer engagement.
In the second quarter of 2026, Meta Platforms' advertising revenues increased 27% year over year to $59.4 billion. AI-powered recommendations and ad-ranking enhancements are improving advertiser performance, while Advantage+ solutions surpassed a $75 billion annual revenue run rate. With 3.6 billion daily users across its apps, Meta Platforms offers advertisers substantial reach.
Apple competes with Alphabet across subscriptions, digital content and consumer AI. In the third quarter of fiscal 2026, Apple’s services revenues reached a record of $30.7 billion, up 12% year over year, led by records across cloud, payments, advertising, App Store and video. Paid subscriptions surpassed 1.5 billion, supported by record transacting and paid accounts. Privacy-focused AI is also expected to become a new Services growth driver as heavy AI users may eventually upgrade to higher-tier iCloud+ subscriptions to support expanded compute needs.
GOOGL’s Share Price Performance, Valuation & EstimatesAlphabet shares have risen 9% year to date, underperforming the broader Zacks Computer and Technology sector’s growth of 21.3%.
GOOGL Stock Performance
Image Source: Zacks Investment Research
GOOGL stock is trading at a premium, with a forward 12-month price/sales of 8.06X compared with the broader Computer and Technology sector’s 6.14X. Alphabet has a Value Score of D.
GOOGL Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is pegged at $20.55 per share, which has increased 0.24% over the past 30 days. This suggests 90.10% growth from 2025’s reported figure.
Alphabet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amazon v roce 2025 utržil z reklamy 69 miliard USD, meziročně o 22 % více. Analýza a16z varuje, že AI asistenti mohou převzít rozhodování o nákupu a obejít tak jeho sponzorované nabídky.
Amazon.com Inc. (NASDAQ:AMZN) may not need to lose the sale to lose part of the economics of AI shopping. A new Andreessen Horowitz analysis argues that AI assistants could become the place where consumers decide what to buy, potentially bypassing Amazon’s sponsored listings even when the final order still moves through its warehouses.
Amazon’s Bigger AI RiskThe distinction matters because Amazon has built a substantial business around controlling the shopping journey. In 2025, the company generated $69 billion in advertising revenue, up 22% from a year earlier, according to Amazon’s Q4 2025 earnings report. Advertising has become an increasingly important part of the economics surrounding its retail marketplace.
That is the vulnerability highlighted by a16z partners Alex Immerman and Santiago Rodriguez. Their Sept. 29 analysis argues that AI agents do not need to recreate Amazon’s fulfillment network to put pressure on its profits. They simply need to become the place where consumers decide what to purchase.
The distinction is subtle but important. An AI assistant could compare products, make a recommendation and send the resulting order to Amazon without the shopper ever browsing Amazon’s search results or seeing a sponsored product.
That could leave Amazon with the physical fulfillment while someone else controls discovery.
Amazon Is Building Its DefenseAmazon is not standing still. The company has already combined Rufus and Alexa+ into Alexa for Shopping, an agentic assistant offering recommendations, product comparisons, price history and automated purchases. Amazon said active users were close to doubling in the second quarter, while interactions increased more than fivefold year over year.
Amazon is also incorporating advertising into its own AI experiences. CEO Andy Jassy said shoppers increasingly discover products through Alexa+ and Alexa for Shopping, while Sponsored Prompt clicks convert to sales 48% more often and generate 21% higher average spending than shoppers who do not click them.
That makes the fight over outside AI agents more consequential. Amazon is effectively trying to make sure the AI interface remains connected to the advertising engine.
Read Next
The Investor Question Is DiscoveryThe bigger question for AMZN investors is whether AI shopping creates incremental demand or simply reroutes existing demand through a new intermediary.
a16z argues that Amazon’s massive fulfillment infrastructure gives it bargaining power, but warns that retaining the order does not necessarily mean retaining the same profit pool.
For investors, the next signal may therefore be less about whether Amazon keeps growing online sales and more about who controls the moment when the consumer decides what to buy. If AI agents capture that decision-making layer, Amazon could find itself defending an advertising business that has become too important to lose — even when the packages keep arriving at the door.
Read Next
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Microsoft si drží doporučení Buy a Copilot sjednocuje spotřebitelské i firemní nabídky pro hlubší komerční využití. Akcie MSFT od posledního snížení hodnocení vzrostly asi o 5,75 %.
SummaryMicrosoft maintains a Buy rating as Copilot's strategic shift consolidates consumer and enterprise offerings for deeper commercial integration.MSFT's Copilot discounts aim to drive broader seat adoption, with future revenue growth tied to usage-based consumption rather than list price extrapolation.Valuation remains attractive relative to peers, with a non-GAAP P/E of 29.47 and EV/EBITDA of 19.73, reflecting earnings-driven appreciation.Key risks include rising CapEx obligations and higher rates, but MSFT's business quality supports resilience amid these headwinds. tupungato/iStock Editorial via Getty Images
Introduction Microsoft (MSFT) has gained about 5.75% since I last downgraded the firm, as it initially rose sharply following its earnings release and the fact that it was, to be fair, too cheap for
4.03K Followers
Analyst’s Disclosure: I/we have a beneficial long position in the shares of MSFT 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.
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.
Největší „white-collar“ odborová organizace Boeingu ve čtvrtek rozhodne o upravené smluvní nabídce; další odmítnutí by mohlo otevřít cestu ke stávce už 7. října. Ta by zastavila certifikaci 737 MAX 10 a 777-9.
Boeing's (BA.N) largest white-collar union will decide on Thursday whether its members accept a sweetened contract offer or move closer to a strike that would stall work on two long-delayed jetliners and slow jet deliveries.
A second rejection by the roughly 17,000 members of the Society of Professional Engineering Employees in Aerospace would clear the way for a walkout as soon as Oct. 7, the day after their current contracts expire. Members already authorized a strike in August.
A strike would abruptly halt Boeing's certification campaigns for the 737 MAX 10 and 777-9 and disrupt its push to boost jetliner deliveries. Both are critical to the crisis-battered planemaker's financial recovery.
"We're working very hard to try to avoid any kind of work stoppage," Boeing CEO Kelly Ortberg told a financial conference in mid-September, adding that a strike would financially hurt the company.
Members of SPEEA's two units overwhelmingly rejected Boeing's first offer in August. About 64% of the Professional Unit, representing roughly 13,000 engineers and scientists, voted no, as did about 72% of the Technical Unit, which has about 4,000 designers, analysts and technicians. Most members work in Washington, with smaller groups in Oregon, California and Utah. The two units bargain together but vote separately.
The revised offer, presented on Sept. 11, includes a 10% guaranteed raise on ratification and lifts annual guaranteed raises to a flat 4%, plus 2% performance increases possible. The previous offer tied guaranteed raises to inflation up to 3%, plus up to 2.5% more tied to performance. Over the four-year contract, the average SPEEA member would get a 32% raise, compared with 26.5% under the first offer, according to the union.
SPEEA negotiators pushed for bigger raises, saying members' pay had not kept up with the market and inflation.
SOME SIGNS OF SUPPORT GROWING
Unlike the first offer, Union councils for both units recommended that members accept the latest one. In August, the Technical Unit council urged a no vote, and the Professional Unit council fell short of the 60% supermajority needed to make any recommendation.
Several union members who voted no on the first offer told Reuters they have switched to supporting the second one.
"It is a good reset on wages and will allow us to push for non-economic priorities in 2030," such as safeguards against moving work to non-union regions, said a Boeing engineer who asked not to be named.
But opposition remains. Another SPEEA member in the Seattle area, where most members work, said the raises "might not be enough for what is coming" if inflation climbs and fuel prices stay high. He voted no.
"At the end of the day, the company is going to try to get as much as it can for as little as it can," he said.
Netflix má k 30. červnu závazky za obsah ve výši 25,1 mld. USD, z toho 11,9 mld. USD splatných do 12 měsíců. Volný peněžní tok ve 2. čtvrtletí klesl na 1,5 mld. USD z 2,3 mld. USD.
Key Takeaways Netflix's content obligations rose to $25.1B, with $11.9B due within the next 12 months.First-half content additions climbed to $9.8B, while second-quarter free cash flow fell to $1.5B.Netflix's expanding slate may support engagement and revenue, but higher spending could pressure cash flow. Netflix’s (NFLX - Free Report) rising content commitments are pressuring cash flow as the streaming giant continues to invest heavily to maintain a broad and competitive entertainment slate. As of June 30, 2026, the company had $25.1 billion in content obligations, up from $24 billion at the end of 2025, with $11.9 billion due within the next 12 months. Of the total, $19.6 billion had not yet been recognized on the balance sheet. Netflix also estimates that obligations for unknown future titles could add another $1 billion-$4 billion over the next three years.
The cash burden is also evident in Netflix’s content investment. The company added $9.8 billion to content assets in the first half of 2026, up from $7.4 billion a year earlier, while content amortization increased to $8.5 billion from $7.7 billion. Importantly, Netflix said second-quarter operating cash flow declined primarily because payments for content assets increased by $1.06 billion. As a result, free cash flow fell to $1.5 billion from $2.3 billion a year earlier. However, the company also cited higher cash tax payments, partly related to the Warner Bros. termination fee.
The spending requirement is unlikely to ease as Netflix continues building its future entertainment pipeline. Its 2026 slate includes returning franchises such as Bridgerton, ONE PIECE, Avatar: The Last Airbender and The Gentlemen. September announcements also added Lust Stories 3, Shaque: Trust No One and The Great Indian Kapil Show Season 5 to its content lineup.
Thus, Netflix’s expanding entertainment pipeline can support engagement and revenue growth, but rising content commitments and higher upfront cash spending could keep cash flow under pressure, making disciplined capital allocation increasingly important.
Disney & Paramount Challenge Netflix on Content SpendingThe Walt Disney Company (DIS - Free Report) is challenging Netflix through sustained investment in creative IP and streaming content, with Disney+ using films and series as the core of its global ecosystem. The company also plans to bring select premium sports events to Disney+, while ESPN remains its primary daily sports destination. This content-and-sports pipeline gives Disney multiple ways to deepen engagement and fan value, positioning it as a broad entertainment competitor to Netflix.
Paramount Skydance (PSKY - Free Report) , with a broader entertainment slate, is stepping up competition with Netflix through an expanding pipeline, with Paramount having greenlit 40 new or returning DTC series and targeting 15+ films in 2027. Paramount is also expanding sports rights through UFC, Zuffa Boxing and UEFA, alongside NFL, WNBA and PGA TOUR programming. These investments are designed to strengthen engagement, retention and streaming scale.
NFLX’s Price Performance, Valuation & EstimatesNetflix’s shares have declined 25% year to date, underperforming the Zacks Broadcast Radio and Television industry and Zacks Consumer Discretionary sector, which have fallen 18.3% and 14.4%, respectively.
NFLX’s YTD Price Performance
Image Source: Zacks Investment Research
Netflix’s valuation remains elevated, with the stock trading at a forward 12-month price/book TTM ratio of 9.71X versus the industry’s 5.17X. NFLX carries a Value Score of D.
NFLX’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NFLX’s 2026 earnings is pegged at $3.59 per share and remains unchanged over the past 30 days. This indicates a 41.9% increase from the previous year.
McDonald’s hlásí, že nová nápojová platforma v USA, Kanadě, Německu a Austrálii splnila nebo překonala očekávání. Více než polovina návštěv přichází po obědě a průměrné účty jsou asi o 50 % vyšší.
Key Takeaways McDonald's beverage platform has met or exceeded expectations in the U.S., Canada and Germany.More than half of beverage traffic comes after lunch, while checks run about 50% above the daily average.Germany saw incremental gains in guest counts, sales and restaurant-level cash flow from the full lineup. McDonald’s Corporation (MCD - Free Report) is looking beyond its traditional burger-and-fries business to beverages as a potentially meaningful source of incremental growth. The company’s new beverage platform, launched in May 2026, has generated encouraging early results across the United States, Canada and Germany, with Australia joining the rollout in mid-July. Management said performance has generally met or exceeded initial expectations across these markets.
The opportunity is particularly compelling because beverages can create incremental visits during underutilized dayparts. More than half of traffic associated with the new platform is occurring after lunch, when McDonald’s restaurants typically have lower volumes and greater capacity. Moreover, strong food attachment has lifted average checks, which management said are roughly 50% above the company’s full-day average for these beverage transactions.
Germany offers an early indication of the broader opportunity. The market introduced the full lineup of cold coffee, crafted sodas, refreshers and energy beverages, generating meaningful incremental contributions to comparable guest counts, sales and restaurant-level cash flow.
The platform also fits squarely within the McDonald’s > NEXT strategy. Management said U.S. beverage sales are ahead of plan, while higher guest checks, new daypart occasions and strong food attachment are reinforcing momentum. More importantly, McDonald’s views beverages as a baseline growth platform capable of delivering multiple years of opportunity and plans to extend it into additional markets.
With more than 45,000 restaurants across over 100 countries, McDonald’s has the scale to broaden successful beverage concepts rapidly. If early traffic, check and cash-flow gains persist as the rollout expands, beverages could become a meaningful new global growth wave for the company.
How Rivals SBUX and CMG Are Expanding Beverage OpportunitiesMcDonald’s is not alone in targeting beverages as a way to create new occasions and drive incremental traffic. Starbucks Corporation (SBUX - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) are also leaning on beverage innovation to support growth.
Starbucks is expanding its Refreshers platform, which delivered double-digit U.S. revenue growth in the third quarter of fiscal 2026. Customizable energy offerings, new flavors and planned sparkling beverages are helping the company target both morning and afternoon occasions, with management viewing Refreshers as an important tool for expanding the afternoon daypart.
Chipotle is accelerating menu innovation across proteins, sides, desserts and beverages, with management identifying beverages as an area with significant untapped potential. The company is developing new beverage concepts as it looks to broaden customer occasions and give guests more reasons to visit. Management expects some of its broader menu innovations to reach restaurants in the second half of 2026 and into 2027.
MCD’s Price Performance, Valuation & EstimatesMcDonald’s shares have lost 13.1% in the past three months, outperforming the Zacks Retail - Restaurants industry, but underperforming the broader Retail and Wholesale sector and the S&P 500 index.
MCD Three-Month Price Performance
Image Source: Zacks Investment Research
In terms of its forward 12-month price-to-earnings ratio, MCD is trading at 17.27, down from the industry’s 19.94.
MCD P/E (F12M)
Image Source: Zacks Investment Research
MCD’s earnings estimates for 2026 and 2027 have trended downward in the past seven days. The revised estimates for 2026 and 2027 imply year-over-year growth of 5.3% and 7.2%, respectively.
MCD Estimate Trend
Image Source: Zacks Investment Research
MCD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Royal Caribbean očekává v roce 2026 náklady na palivo kolem 1,34 mld. USD a 58 % zbývající spotřeby má zajištěno pod tržními cenami. Ve 2. čtvrtletí náklady na palivo vzrostly na 355 mil. USD z 279 mil. USD.
Key Takeaways Royal Caribbean had 58% of the remaining 2026 fuel consumption hedged at below-market rates.Second-quarter fuel expense rose to $355 million from $279 million on higher rates per metric ton.Royal Caribbean extended hedge coverage to 49% for 2027, 29% for 2028 and 14% for 2029. Royal Caribbean Cruises Ltd. (RCL - Free Report) continues to use fuel hedging as part of its broader efforts to manage operating expenses. The company expects fuel expenses of approximately $1.34 billion in 2026. As of second-quarter 2026, 58% of remaining 2026 fuel consumption was hedged at significantly below-market rates. This coverage provides partial protection against fuel-price increases while supporting greater visibility into its cost outlook.
Fuel costs nevertheless remain a source of pressure. Second-quarter fuel expense increased to $355 million from $279 million a year earlier due to higher rates per metric ton. The company stated that a 10% change in fuel prices could affect expenses by approximately $26 million over the remainder of 2026, highlighting the exposure that remains despite hedging.
For 2026, Royal Caribbean expects net cruise costs per available passenger cruise day, excluding fuel, to remain approximately flat on a constant-currency basis, supported by ongoing efficiency improvements and prudent cost management. Including fuel, unit cruise costs are expected to increase approximately 1.4% on the same basis, underscoring the additional pressure from fuel expenses.
The company added fuel hedges for 2027 when prices eased in June. As of June 30, hedge coverage represented 49% of projected fuel purchases for 2027, 29% for 2028 and 14% for 2029, extending protection beyond the current year.
Overall, Royal Caribbean’s below-market fuel hedges provide a partial cushion for its approximately $1.34 billion fuel expense outlook. Together with operating efficiencies and disciplined spending, this coverage could help preserve profitability.
How Cruise Peers Are Managing Fuel CostsCarnival Corporation Ltd. (CCL - Free Report) prioritizes lower fuel consumption over hedging to manage energy costs. In the third quarter of fiscal 2026, fuel consumption declined nearly 4% year over year, building on a reduction of more than 5% a year earlier. Carnival expects the full-year fuel expense of approximately $2.25 billion, including emission allowances, with consumption of approximately 2.7 million metric tons. Fuel consumption per available lower berth day has declined 26% since 2019, helping cushion higher prices. However, a 10% change in fuel cost per metric ton, excluding emission allowances, could affect CCL’s fiscal fourth-quarter adjusted net income by approximately $59 million, highlighting continued exposure to price volatility.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) also uses fuel hedging to limit exposure to energy-price volatility. As of June 30, 2026, NCLH had hedged approximately 52% of projected 2026 fuel consumption and 38% for 2027. Fuel costs nevertheless remained under pressure, with second-quarter expense reaching $219 million as prices per metric ton, net of hedges, increased to $888 from $659 a year earlier. Norwegian Cruise expects a full-year fuel price of $780 per metric ton, net of hedges. A 10% change in fuel prices, net of hedges, would affect full-year adjusted earnings per share (EPS) by approximately 5 cents, indicating continued exposure to price volatility.
RCL’s Price Performance, Valuation & EstimatesShares of Royal Caribbean have declined 17.5% in the past year compared with the industry’s 11.2% fall.
RCL Stock’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, RCL trades at a forward price-to-earnings ratio of 13.37, below the industry’s average of 15.48.
RCL’s P/E Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for RCL’s 2026 earnings implies a year-over-year increase of 13.8%. The EPS estimates for 2026 have remained unchanged in the past 30 days.
EPS Trend of RCL Stock
Image Source: Zacks Investment Research
RCL’s Zacks RankRCL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Intel letos přidal 212,55 %, ale jeho foundry divize v posledním čtvrtletí vykázala ztrátu 2,1 miliardy USD. Z 48 analytiků ji 32 hodnotí jako Hold, 13 jako Buy a 1 jako Strong Buy.
Wall Street has overwhelmingly parked Intel in hold territory, but the stock just posted a 212% gain this year while simultaneously losing billions in its foundry division. Something in those conflicting signals deserves a closer look before you decide what…
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Intel (NASDAQ:INTC | INTC Price Prediction) trades at $115.33. That is down 6.24% from a $123 open as AI fears mount across chip stocks. The price target from 24/7 Wall St. for Intel is $129.14 over the next 12 months, which means about 12% upside. The model gives the stock a hold rating with fairly high confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $115.33 Price Target from 24/7 Wall St. $129.14 Upside/Downside 12.0% Recommendation HOLD Confidence Level 70% Most of Wall Street agrees with that rating. Of 48 analysts, 32 rate Intel a Hold, 13 rate it a Buy and 1 rates it a Strong Buy. The consensus target of $116.37 sits almost exactly where the stock trades now.
Our model finds somewhat more room because sector momentum and upward estimate revisions carry more weight than the stock’s volatility does.
A 212% Rally Runs Into Monday’s AI Jitters Intel has gained 6.2% over the past week, 30.7% over the past month and 212.55% year to date. It still sits about 19% below its 52-week high of $142.35 and far above its low of $32.89.
In the second quarter, revenue of $16.13 billion rose 25.4% and exceeded the $14.45 billion estimate. Non-GAAP EPS of $0.42 beat expectations of $0.2175. September also brought a reported SK Hynix discussion about making memory chips in Intel’s U.S. fabs.
Why Bulls See $137 and Beyond Data Center and AI revenue rose 59%. Output on the Intel 18A process node ran about 25% above target. The ASIC business is at roughly a $2 billion run rate, and management expects it to reach $4 billion. Xeon 6 won the host CPU slot in NVIDIA’s DGX Rubin systems.
Consensus 2027 EPS stands at $2.0621, and the high estimate is $3.44. The bull case of $137.37 means about 19% upside. Firm-level analyst targets were unavailable.
What Could Push Intel Back Under $100 Intel Foundry lost $2.1 billion last quarter, and external customers added only $293 million in revenue. Intel says it could pause 14A without enough outside demand. Management expects PC use to fall by a low double digits percent in 2026.
At 63x forward earnings, the valuation leaves little room for mistakes. Our bear case is $99.28, about 14% downside. One counterpoint: the GAAP loss of -$2.16 per share came from a $12.53 billion non-cash escrow charge, and operating cash flow rose 241.8%.
How Intel Compares to AMD and NVIDIA AMD (NASDAQ:AMD) competes directly with Intel in x86 server and PC chips. It trades at 40x forward earnings on 50.1% revenue growth, so it is cheaper and growing faster.
NVIDIA (NASDAQ:NVDA) is both an Intel investor and the benchmark for AI computing. It trades at 25x with 105.9% growth.
Company Forward P/E Quarterly Revenue Growth (YoY) Intel 63 25.4% AMD 40 50.1% NVIDIA 25 105.9% Intel already carries a turnaround premium over both peers. That makes our target reasonable, but it leaves little margin if earnings slip.
The other way to play the AI expansion is to skip the chipmakers entirely and look at the power, cooling, and networking suppliers behind the data centers, which we covered in a free report on seven AI infrastructure names.
Intel Price Prediction 2026-2030 The 24/7 Wall St. price target of $129.14 supports a hold with 70% confidence. Foundry economics tip the scale.
I’d get more constructive if Intel announces outside 14A customers and foundry losses keep shrinking. I’d stay patient if server supply limits and PC weakness drag the next earnings report below the $0.38 EPS guidance.
Year Price Target from 24/7 Wall St. 2026 $119.91 2027 $126.87 2028 $140.89 2029 $144.95 2030 $149.80 The projections rest on Intel continuing to execute its current strategy. The 14A ramp planned for 2028 could move them sharply in either direction.
Contact [email protected] for any questions or corrections.
Shopify Inc (TSX:SH., NYSE:SHOP)'s pursuit of nationwide money transmitter licensure could add roughly 2% to gross profit and 5% to operating income in 2028, according to an analysis from Jefferies.
In a research note, the firm called the licences a “logical next step” in the evolution of Merchant Solutions.
They would expand Shopify's ability to own and control the movement of merchant funds, unlocking new monetization opportunities, deeper merchant relationships and greater strategic leverage across the payments ecosystem.
Jefferies said the licensure would let Shopify directly hold and move merchant funds, a natural extension of Merchant Solutions that should lay the groundwork for a broader financial services platform, deepen merchant stickiness and position the company more firmly as a financial operating system.
The analysts split the financial opportunity into three buckets: float income earned on settlement and stored balances, recaptured partner economics, and monetization of future money movement products. Those benefits are partially offset by added compliance, risk, fraud and operational costs.
Jefferies said the opportunity is less about creating a new revenue stream overnight and more about increasing Shopify's participation in the economics generated across its existing ecosystem.
The firm also said the licences do not allow Shopify to originate loans using customer deposits or confer card-acquiring capabilities. It does not view the initiative as a strategy to replace Stripe or internalize the entire payments stack, and expects Shopify and Stripe to remain critical and synergistic partners.
If its base case plays out, Jefferies said, Shopify would sustain gross profit growth above 20% and operating income growth above 30% in 2028 without any other upside drivers.
It believes that level of growth at Shopify's scale would support a premium multiple, with the strategic optionality leaving room for additional upside down the road.
Eli Lilly ve 2. čtvrtletí zvýšila tržby o 48 % na 23 miliard USD a upravený zisk na akcii o 33 % na 8,38 USD. Tržby společnosti Merck činily 16,6 miliardy USD, což je meziročně o 5 % více.
Several investing trends are sweeping through Wall Street right now, including artificial intelligence (AI), robotaxis, and others. Investors shouldn't miss the opportunity to capitalize on these fast-growing markets, but it's also important not to forget tried-and-true methods for earning above-average long-term returns. One of them is to invest in excellent dividend-paying companies. Let's consider two that are worth a second look right now: Eli Lilly (LLY -1.50%) and Merck (MRK -2.28%).
Image source: The Motley Fool.
1. Eli LillyEli Lilly has perhaps been one of the best growth stocks in the pharmaceutical industry over the past five years. The company's financial results have been excellent, thanks to its diabetes and weight loss products, Mounjaro and Zepbound, respectively. In the second quarter, Eli Lilly's revenue increased by 48% year over year to $23 billion, while its adjusted earnings per share climbed 33% year over year to $8.38. Mounjaro and Zepbound both performed well during the period and could maintain momentum over the medium term.
In August, Mounjaro earned approval in the U.S. to reduce the risk of major cardiovascular events in adults with type 2 diabetes who are at high cardiovascular risk. The medicine is being tested across several additional indications. It could earn additional label expansions, in addition to riding the wave of the rapidly growing market for GLP-1 medicines (Mounjaro and Zepbound mimic the actions of the GLP-1 and GIP hormones).
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Further, Eli Lilly has other attractive pipeline candidates that will help it strengthen its lead in this space even as competition intensifies. Eli Lilly's next-gen medicines, including retatrutide and eloralintide, could both help the company expand the market. Retatrutide posted outstanding Phase 3 results and could attract patients who haven't achieved sufficient weight loss with existing approved medicines.
And eloralintide posted promising Phase 2 clinical trial results while showing highly encouraging tolerability, so it might eventually appeal to patients who may be avoiding weight-loss medicines due to their side effects. Of course, eloralintide still has to pass pivotal studies (it is undergoing Phase 3 trials) before earning approval. But the point is that Eli Lilly's pipeline in its core therapeutic area is attractive.
The company has promising products and pipeline candidates in other areas as well, as it seeks to diversify its portfolio. That makes for a healthy business that could maintain consistent revenue and earnings growth over time, helping the company sustain its dividend program. Eli Lilly's forward yield of 0.6% isn't impressive, but that's because its shares have outperformed the broader market in recent years.
Meanwhile, it has also increased its dividend at a good pace -- it has more than doubled over the past five years. So, Eli Lilly isn't just an excellent growth stock. It is a great dividend stock, too, and given its dominance in its core market and deep pipeline, it could deliver excellent returns through 2036.
2. Merck Merck's biggest growth driver, Keytruda, a cancer medicine, will lose its patent exclusivity in the U.S. in 2028. Keytruda is currently one of the world's best-selling brands, and even with it, Merck's revenue isn't growing that fast. In the second quarter, the company's sales came in at $16.6 billion, up 5% year over year. However, Merck's prospects are much stronger than it seems at first.
The company has earned approval for several products in recent years that should help replace Keytruda. Perhaps the most important among them is Keytruda Qlex, a subcutaneous version of the medicine. The original formulation is administered via intravenous infusion, but that takes as much as half an hour. The subcutaneous version takes a couple of minutes.
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This more convenient dosing is advantageous to patients and physicians and could help Keytruda Qlex retain many of the original formulation's patients beyond the 2028 patent cliff. Several other newer medicines, such as Winrevair for pulmonary arterial hypertension and Capvaxive, a pneumonia vaccine, could contribute for a while as well. And Merck has a deep pipeline with several products with blockbuster potential.
So, Merck's prospects remain intact, and the company's dividend program looks strong. Merck has increased its payouts by almost 90% over the past decade, and it currently offers a forward yield of 2.3%. Merck is an attractive dividend stock to hold onto for the next 10 years.
MGM Resorts nevylučuje převzetí People Inc., která dříve stáhla nabídku na koupi zbytku MGM za 48,30 USD za akcii. Jednání přichází v době, kdy se kasino sektor oživuje.
MGM Resorts International CEO Bill Hornbuckle is leaving open the possibility that the casino operator could acquire Barry Diller's People Inc., a striking reversal after the media company abandoned its own effort to take over MGM.
Asked at the Global Gaming Expo this week whether MGM was considering buying People Inc., Hornbuckle said MGM would continue pursuing what is in the best interest of shareholders and "trying to unlock the value of a company that we think is grossly undervalued."
Hornbuckle pointed to MGM's collection of assets, including BetMGM, its casino operations in Macao, its resort under construction in Japan and its properties in Las Vegas.
The Wall Street Journal reported last week that MGM was exploring an offer for People Inc. The publishing and holding company, formerly known as IAC, owns roughly 27% of MGM and is its largest shareholder.
People Inc. last week withdrew its $48.30-per-share proposal to buy the rest of MGM. Diller said the "mix" of factors required to complete the transaction had not come together as the company had hoped, but said People Inc. remained interested in a possible strategic transaction with MGM.
Hornbuckle called Diller and People Inc. "an amazing shareholder" and said Diller remains bullish on Las Vegas.
"There's nothing like it replicated anywhere in the world," Hornbuckle said. "It is the one place, particularly in his world, where AI won't disintermediate it."
Unlike some of People Inc.'s publishing and digital businesses, Hornbuckle said, Las Vegas is built around physical experiences that artificial intelligence cannot replace.
"People are coming here to enjoy things physically, and that's not going to change," he said.
MGM shares were trading near $32 ahead of the G2E discussion, well below the $48.30 price People Inc. had offered in June.
Caesars prepares to go privateThe talks between MGM and People Inc. come as one of MGM's biggest Las Vegas rivals prepares for a take-private transaction.
Caesars Entertainment shareholders last week approved the company's $17.6 billion sale, including assumed debt, to Fertitta Entertainment. The deal would combine Caesars' casino and digital operations with Tilman Fertitta's Golden Nugget casinos, Landry's restaurant group and other hospitality assets.
Caesars CEO Tom Reeg said operating as a private company would allow management to take a longer view.
"We're forced as public companies to think in 90-day increments far more than is healthy for any business," Reeg said. "That's not how you run a business."
He said the combination with a hospitality company that has more than 400 outlets across the country creates an opportunity to connect the businesses into a broader customer ecosystem.
The transaction is undergoing an extended antitrust review by the Federal Trade Commission, which recently issued a second request for information.
Reeg called the request normal for a transaction of this size and said the markets under scrutiny are not particularly material to the combined company.
"You shouldn't be surprised if there's a property or two that ultimately gets divested," Reeg said. "But I wouldn't expect them to be needle movers from a news perspective."
Reeg said the recent interest in the casino space from Diller, Fertitta and activist investor Carl Icahn indicates that sophisticated investors see long-term value in Las Vegas despite weaker visitation and concerns about prices.
"You have some of the smartest people in the world saying, 'How do I get in?'" Reeg said.
Asked whether those investors were buying because Las Vegas is a bargain, he said, "I think it's both."
Wynn's UAE betBeyond Las Vegas, Wynn Resorts CEO Craig Billings said construction of Wynn Al Marjan Island in the United Arab Emirates remains on track despite regional conflict that has contributed to a roughly $600 million increase in the project's budget.
Billings said approximately half of that increase is related to the conflict, but the resort has missed only one day of construction.
Most of the disruption came during a two- to three-month period when supply chains were being rerouted through different ports, he said. Shipping costs also surged because insurers were unwilling to cover some routes.
"From our perspective, it's super straightforward: Get open, start earning EBITDA," Billings said. "You're going to pay for that uptick in cost very, very quickly."
Billings said Wynn's property and construction insurance costs at the site have not increased, citing the security provided by authorities in the UAE. The resort is scheduled to open in September 2027.
The property will be the first integrated resort with casino gaming in the UAE and represents Wynn's biggest expansion beyond its existing markets in Las Vegas, Boston and Macao.
Macao's premium customerBillings also played down the importance of broad visitation figures in Macao, which saw record visitor traffic in August.
Wynn's results depend less on how many people enter Macao than on which customers arrive, he said. The company targets the premium end of the market.
Billings described Macao as the largest gaming market in the world, generating roughly five times the gaming revenue of the Las Vegas Strip with about 30% as many hotel rooms.
"Whether Macao's up 2%, down 3%, you have to look through any given cycle," he said. "We remain very, very focused on the mid- and long-term in Macao."
Hornbuckle said MGM is the smallest of the major operators in the market and is similarly focused on higher-value customers. He said 94% of MGM's occupied rooms in Macao are filled by known casino customers, and the company is converting more standard rooms into suites to meet demand.
And while luxury retail sales have been soft in China, Billings said that is not necessarily a warning sign for casino spending.
Chinese consumers are changing their brand preferences, he said, weakening the historical relationship between luxury retail sales and gaming revenue.
MGM's Japan resort emerges from the groundHornbuckle said MGM's integrated resort in Osaka, Japan, is on time and on budget after more than a year of site preparation on the man-made island of Yumeshima.
The development will cover roughly 97 acres and 18 million square feet. Hornbuckle said its casino floor will be four times the size of the casino at MGM's Bellagio.
"We're finally coming out of the dirt," he said. "You can see the structures. Steel is being laid."
Hornbuckle said that if Singapore's integrated resorts provide a reasonable comparison, MGM Osaka could quickly become a $2 billion cash-flow business.
Japan has so far only approved the Osaka development, but Hornbuckle said the potential for competition in or around Tokyo wouldn't pose a threat, given Japan's population and the time it would take a rival to propose and build a new project.
"If we don't have a five-year head start on this — and then some — I'd be absolutely shocked," he said.
Wall Street sees modest upside for Chevron, but a seven-quarter streak of earnings beats, a 20-year AI power deal, and a valuation well below the broader market suggest analysts are still underestimating what this stock can do.
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In Chevron’s second quarter, every part of the business ran strong at once. Chevron (NYSE:CVX | CVX Price Prediction) set a U.S. upstream production record of 2,077 MBOED, ran its U.S. refineries at 97% capacity, and captured $1.5 billion in Hess savings within a year of closing. That savings figure beat the original target by 50%.
CEO Mike Wirth credited “disciplined investment and strong execution that drove record U.S. upstream production, record crude throughput in our U.S. refineries, and exceptional reliability across key assets.”
Shares are up 40.02% year-to-date and 152.16% over five years. Brent averaged $104 in Q2, but cost cuts, Guyana, and a new AI power business give this rally more runway. Here’s how Chevron could hit $250 per share in 2027.
Analysts See Modest Upside While Chevron Keeps Beating Them Wall Street’s average price target of $223.92 implies 7.8% upside from $207.63. Sentiment leans bullish, with 6 Strong Buy and 14 Buy ratings against one Sell.
Chevron has exceeded consensus EPS for seven consecutive quarters. Q1 EPS was $1.41 versus a $0.9687 estimate. Q2 adjusted EPS jumped to $6.06 as revenue rose 51.4% to $67.20 billion. Such a run suggests current forecasts are conservative.
Here’s What It Takes for Chevron to Reach $250 Chevron trades at 15x forward earnings, cheaper than the S&P 500’s roughly 21x to 23x. A move to $250 would be a 20.4% gain, raising the multiple to about 18x forward earnings, still below the market.
Management’s 2030 plan calls for adjusted free cash flow growth averaging greater than 10% annually, assuming flat oil prices below today’s levels. For that growth, 18x is reasonable.
What Could Push Chevron to $250? Built-in savings: Chevron reached $3 billion in annual run-rate cost cuts six months early. CFO Eimear Bonner said the savings are “built into the business.” AI power: Project Kilby is a 20-year take-or-pay deal to supply Microsoft (NASDAQ:MSFT) with 2.67 gigawatts of power. It targets mid-teens returns from cash flows that don’t depend on commodity prices. Management calls it a repeatable model and says talks for more deals are advanced. Guyana: Free cash flow from the Hess assets has been “roughly double the incremental dividends,” and Guyana should keep high-margin oil growing into the 2030s. Refining: Downstream earnings reached $4.87 billion, up from $737 million a year ago. Management said “products are tighter than crude around the world.” Capital efficiency: Chevron expects to spend 25% less capex per barrel in 2026. Shareholder returns: Chevron bought back $3.12B of stock in Q2 and pays a $1.78 quarterly dividend. It has raised that dividend for 39 consecutive years. Growth options: These include Iraq’s West Qurna 2, Venezuela and Argentina, where management wants to grow the business 3x by 2035. Chevron is one piece of a broader shift: the AI expansion runs on power, cooling, and networking, not just chips. We highlighted seven of those non-chipmaker suppliers in a free report you can grab here.
There are real risks. A long shutdown of the CPC pipeline, which carries Chevron’s Kazakhstan oil to market, conflict in the Middle East, and a return to normal refining margins could all slow progress.
Chevron’s History Says a 20% Year Is Well Within Reach On a dividend-adjusted basis, Chevron has exceeded a 20.4% gain in eight calendar years since 2000. Total return reached 58% in 2022, 46% in 2021, 37% in 2016 and 35% in 2003.
Back-to-back big years have happened too, with 34% in 2006 followed by 31% in 2007.
$250 Is a Stretch, and Chevron Has the Tools to Get There Reaching $250 requires a 20.4% gain, above the Street’s target. A seven-quarter beat run, $18.10B of Q2 free cash flow, commodity-proof power contracts, and a valuation below the market support it. Chevron has the tools to deliver outsized returns in 2027.
Contact [email protected] for any questions or corrections.
Synopsys a OpenAI oznámily víceletou strategickou spolupráci na vývoji GPT-Synopsys, specializovaného modelu pro návrh čipů. Součástí je sdílení výnosů a společný prodej zákazníkům po celém světě.
Companies form strategic partnership to dramatically advance and accelerate semiconductor innovation
News Highlights:
Companies sign multi-year agreement to collaborate as preferred partners to develop and deliver GPT-Synopsys, a specialized model for chip design that brings together OpenAI's frontier AI with Synopsys' trusted EDA tools and chip design expertise OpenAI to license Synopsys' trusted electronic design automation (EDA) tools for development of the specialized model Synopsys & OpenAI to closely collaborate on R&D and joint go-to-market initiatives with a shared revenue framework , /PRNewswire/ -- Synopsys (Nasdaq: SNPS) and OpenAI today announced a strategic partnership that brings together OpenAI's advanced AI capabilities with Synopsys' industry-leading EDA tools and agentic AI capabilities to revolutionize the design of semiconductors. The companies signed an expansive, multi-year agreement to jointly develop GPT-Synopsys, a specialized model, optimized to use Synopsys EDA tools to perform semiconductor design workflows. The agreement includes a revenue sharing arrangement and go-to-market collaboration to jointly make GPT-Synopsys available to customers worldwide.
OpenAI and Synopsys Announce GPT-Synopsys: Frontier Intelligence to Revolutionize Chip Design Today, agentic AI technologies connect general-purpose models to EDA tools to run chip-design workflows. The next leap, with this partnership, is to make frontier models experts in using EDA tools: learning to run the tools as expert engineers, interpreting their outputs, and iteratively optimizing designs using the tools. This integration will make the model a native expert user and enable engineers to explore more design alternatives and optimize power, performance and area (PPA) to rapidly deliver more sophisticated designs.
"The future of semiconductor engineering requires dramatic acceleration of the chip design process without compromising PPA or first-time-right silicon. This agreement will expand access to Synopsys' advanced design capabilities and the underlying, ground-truth engineering tools required to bring increasingly complex chips to market," said Sassine Ghazi, president and CEO of Synopsys. "Together with OpenAI, we're bringing frontier intelligence to chip design to help more companies develop and accelerate advanced silicon, while maintaining the rigor and trust required for manufacturing success."
"We're using our most advanced technology to improve the systems that power AI," said Greg Brockman, president and co-founder of OpenAI. "With Synopsys, we're bringing that work to chip design, helping engineers explore more designs and get to a working chip faster. By helping them build better chips, we can build better AI and bring it to more people."
GPT-Synopsys to Revolutionize AI-native Chip Design
GPT-Synopsys brings together OpenAI frontier models with Synopsys' EDA technology and domain expertise, enabling the specialized model to reason about chip design and verification, and to directly operate Synopsys' tools. Engineers will delegate design objectives—from PPA optimization to timing and verification closure—with agents running tools, interpreting results, implementing changes, and iterating toward verified outcomes for engineer review. GPT-Synopsys will run on OpenAI-hosted infrastructure, will be designed to interoperate with customer agent harness systems, and will be deeply integrated with Synopsys.ai and the Synopsys Autopilot, agentic AI platform. Early technology engagements are underway with leading semiconductor customers.
The joint service offering will provide the bundled compute, model, and licenses, while ensuring customer-specific design data is protected. GPT-Synopsys will feature enterprise-grade security, governance, and access controls. Customer data is not used to train the model, is encrypted at rest and in transit, and can be managed through configurable retention, audit and permission controls.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the leader in engineering solutions from silicon to systems, enabling customers to rapidly innovate AI-powered products. We deliver industry-leading silicon design, IP, simulation and analysis solutions, and design services. We partner closely with customers across a broad range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements regarding the development, capabilities, timing, availability, and anticipated benefits of GPT-Synopsys as well as Synopsys and OpenAI's strategic partnership. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames, or achievements to differ materially from those expressed or implied in such forward-looking statements. Information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings we make with the SEC from time to time, including in the sections entitled "Risk Factors" in our latest Annual Report on Form 10-K and in our latest Quarterly Report on Form 10-Q. Synopsys undertakes no duty, and does not intend, to update any forward-looking statement provided in this press release, whether as a result of new information, future events or otherwise, unless required by law.
Oracle je téměř 60 % pod rekordem, ale růst AI datacenter financuje dluhem a záporným volným cash flow o 5,4 miliardy USD. Firma má 125 miliard USD dlouhodobého dluhu a 288 miliard USD v závazcích z pronájmu datacenter.
That's how much just five technology megacaps are expected to spend in capital expenditures this year alone, with the vast majority earmarked for artificial intelligence (AI) projects. It turns out building AI data centers is fabulously expensive.
Four of those companies -- hyperscalers Microsoft, Amazon, Alphabet, and Meta Platforms -- are trading at less than 15% off their all-time highs.
One is not: Oracle (ORCL +0.13%). That tech giant's stock is now down nearly 60% from the record it set in September 2025. So, is this the perfect time to buy? Or is there a reason Oracle stock is the odd one out?
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Oracle's growth isn't the problem Let's be clear, Oracle stock has not tumbled because of slow business growth. The company's revenue has grown from $42.4 billion in its fiscal 2022 to $67.4 billion in fiscal 2026. Investors can thank its AI efforts for that. Check out the acceleration on its top line.
ORCL Revenue (TTM) data by YCharts.
A more granular look at its revenue by segment shows how much of this growth was fueled by AI, and specifically, the AI data center boom. Sales from Oracle Cloud Infrastructure (OCI) arm -- the unit that leases massive data centers and rents out AI compute -- jumped 121% to $7.4 billion in its most recently reported quarter, fiscal 2027 Q1. That unit brought in less than $1 billion in the same period of fiscal 2023.
Behind the strength of OCI, Oracle's companywide remaining performance obligation (RPO) -- contracted revenue for products and services it hasn't delivered yet -- reached an incredible $664 billion as of the end of last quarter.
The cost of growth Growth is not the issue. Well, at least not that kind of growth. The issue is the costs that are ballooning alongside that sales growth, namely, capex. Oracle's share of that $800 billion figure is $95 billion. While that may be the lowest of the bunch, keep in mind that Oracle makes about a third of Meta's revenue, the next smallest in that group.
Oracle's spending spree is far outpacing its ability to pay for it with the cash the business actually generates. Oracle's free cash flow (FCF) -- the money left over after running the business and paying for capital projects -- was negative $5.4 billion in the latest quarter.
Currently, for every $1 Oracle is spending in capex, its business is only generating 60 cents. Until recently, that figure hadn't really been under $5 for more than 20 years. Take a look at the chart showing that relationship and the steep decline in the last few years.
ORCL Cash Flow to CAPEX (TTM) data by YCharts.
Funding the gap with debt Since it doesn't have nearly enough cash flowing from its operations to cover its capital spending needs, Oracle has turned to debt, and a lot of it. As of the end of August, the company had $125 billion in long-term debt on its books. (It has also been engaging in dilutive secondary stock sales.)
Image source: Getty Images.
And that debt figure doesn't reflect the $288 billion in data-center lease commitments that Oracle hasn't begun paying, and that don't show up on the balance sheet. There's also project-level financing that, although Oracle itself is not responsible for it, adds to the total leverage involved in its bet-the-farm AI build-out.
A data center delay shows the risk That is especially relevant right now. Recently, the company was in the news for sending a legal notice to the developer of Project Jupiter, a massive data center campus, claiming "force majeure" in a bid to postpone when it starts making lease payments if the facility isn't ready and powered up by the project's March 2028 target date.
Simply, Oracle is attempting to legally shield itself from having to pay the rents it agreed to if Project Jupiter is delayed due to events outside of its control.
If the project's completion is delayed, and Oracle's legal maneuver falls flat, it could be stuck paying those rents without the income that is supposed to fund them. That would not be good for its cash flow picture.
Is Oracle stock worth the risk? These aren't issues facing Oracle alone. The other tech giants have seen their own free cash flows plummet and have, to various degrees, begun borrowing. The main difference is in relative scale.
Oracle's financial picture is much more precarious than the other four hyperscalers, and if the AI boom slows down -- or worse -- the consequences it faces will be much more severe.
Now, if everything goes according to plan, that could mean there is more upside for Oracle stock. I still don't think it's worth the risk.
ServiceNow má mezi zákazníky 90 % společností z Fortune 500 a ve 2. čtvrtletí zvýšil tržby meziročně o 24 %. Firma zároveň oznámila rozšíření partnerství s Nvidia, Microsoft a Amazon.
ChatGPT revolutionized how people saw the artificial intelligence (AI) opportunity, and enterprise AI may be the next frontier. Agentic AI can perform various tasks for businesses and consumers, rather than stopping at just providing information.
The biggest winner of the agentic era of enterprise AI may be a company that isn't a household name yet. ServiceNow (NOW +3.18%) has 90% of the Fortune 500 as its customers and has become the leading platform for workflow creation.
Image source: Getty Images.
ServiceNow's vast customer portfolio gives it a massive head start AI costs aren't fixed. They are rising over time, which explains why hyperscalers have been raising their capital expenditures. All that capital has to go somewhere, and tech giants prefer to rely on trusted sources rather than trying things out with new emerging companies.
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That positions ServiceNow well. Not only does it already serve most Fortune 500 companies, but it also has nearly 9,000 enterprise customers. Each time those customers invest more heavily in their AI ambitions, it increases the likelihood that those same enterprises will upgrade their ServiceNow plans.
Its second-quarter results indicate that this phenomenon is already taking place. Overall revenue increased by 24% year over year in the period, but growth was primarily driven by ServiceNow's largest customers. For instance, it saw 123 new transactions exceeding $1 million in net annual contract value in Q2, a 40% year-over-year increase. It also saw a 23% year-over-year increase in the number of customers with more than $5 million in annual contract values.
ServiceNow also announced expanded partnerships with Nvidia, Microsoft, and Amazon. That lineup, plus the fact that state and local governments in almost every U.S. state use the ServiceNow AI Platform, gives the company a large market position that outpaces the competition.
When agentic AI costs rise, many of the big spenders will naturally turn to ServiceNow. It's no wonder Nvidia CEO Jensen Huang said "the market's got it wrong" about the stock, which is down by about 15% year to date.
ServiceNow operates on an annually recurring revenue ServiceNow customers pay via monthly and annual subscription plans, which makes it easier for the company to deliver exceptional growth rates each year. Its ability to add new customers while commanding higher annual contract values for its existing customers makes it easier to forecast future growth.
That business model has also helped ServiceNow remain durable in various economic cycles. For instance, over the past decade, its compound annual revenue growth rate was 29.4%. The company is maintaining a similar pace, with 24% revenue growth in Q2.
Not only did Huang say the market was wrong about ServiceNow, but he also said it was "destined to be the best platform." That type of commentary from Nvidia's CEO is a big deal since Huang has more data about what's going on in the AI trade than almost anyone else. Every AI company wants to secure a partnership with Nvidia, and Huang singled out ServiceNow as the best option for enterprise AI.
ServiceNow's vast customer pipeline and remaining performance obligations support Huang's bold claim.
Intuit se ve fiskálním roce 2027 více zaměří na získávání nových zákazníků v QuickBooks a TurboTax. Očekává růst tržeb o 9 % až 10 %, což je méně než 14 % ve fiskálním roce 2026.
Key Takeaways Intuit is prioritizing new customer growth after additions slowed in key parts of the business.QuickBooks Free and Lite aim to attract entrepreneurs earlier and monetize them as their needs expand.Intuit expects fiscal 2027 revenue growth of 9%-10% as it spends more on acquisition and adjusts pricing. Intuit Inc.’s (INTU - Free Report) fiscal 2027 playbook is shifting toward bringing more customers into its ecosystem. After years of leaning on pricing, upgrades and higher-value services, management is putting more focus on bringing new users into QuickBooks and TurboTax. The swing follows a year when customer additions slowed in important parts of the business.
On the business side, Intuit is widening the entry point with QuickBooks Free and QuickBooks Lite. The idea is to reach entrepreneurs earlier, lower the barrier to entry and build the relationship as their needs expand. Intuit can then monetize those users through payments, payroll, financing and higher-tier accounting products over time.
This matters because Intuit has already shown it can deepen relationships once customers are on the platform. Mid-market revenues grew 39% in fiscal 2026, while business money revenues rose 31%. The next challenge is to rely less on upgrades from existing users and bring more new businesses directly into the franchise.
TurboTax is getting a similar reset. Intuit said that it lost quality DIY customers to lower-cost providers, with price becoming the main reason customers leave. In response, the company plans to sharpen pricing, widen distribution and use AI to simplify filing, even if that means lower revenue per DIY customer initially.
This creates a near-term trade-off. Intuit expects fiscal 2027 revenue growth of 9%-10%, down from 14% in fiscal 2026, as it spends more on customer acquisition and adjusts pricing. At the same time, management is counting on broader platform use to support revenue per customer as those relationships develop.
Intuit’s Peers Sharpen Their Customer Growth PlaybooksH&R Block, Inc. (HRB - Free Report) is taking a similar route by improving client mix, expanding expert-led digital services and using technology to strengthen relationships beyond a single filing season. H&R Block said fiscal 2026 revenues rose 5%. For fiscal 2027, H&R Block is focusing on scaling what works while improving customer outcomes.
BILL Holdings, Inc. (BILL - Free Report) is also trying to deepen its role with small businesses through a broader, AI-enabled finance platform. BILL Holdings ended fiscal 2026 serving nearly 480,000 businesses and is pushing wider use of payments, expense and automation tools. BILL Holdings expects continued core revenue growth as platform adoption expands.
INTU’s Price Performance, Valuation and EstimatesShares of Intuit have gained 3.5% over the past three months, underperforming the broader industry but outperforming the S&P 500 composite.
Image Source: Zacks Investment Research
In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 3.01X, which is at a discount to the industry average of 6.14X.
Image Source: Zacks Investment Research
Over the past 30 days, estimates for INTU’s fiscal 2027 and 2028 EPS have been revised northward.
Image Source: Zacks Investment Research
Currently, Intuit carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Anthropic v prospektu k IPO uvedla závazky vůči Broadcomu ve výši 161,2 miliardy USD za pronájem zařízení. Firma přitom stále nese i celkové závazky za cloud, výpočetní a infrastrukturní služby ve výši 518 miliard USD.
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Semiconductor giant Broadcom NASDAQ: AVGO has become one of the top breadwinners in custom silicon, positioning itself as NVIDIA’s NASDAQ: NVDA key competitor in AI chips. However, Broadcom’s XPU customer base is undergoing a very significant shift. Alphabet NASDAQ: GOOGL has long been Broadcom’s largest XPU customer, but if all goes according to plan, that will not be the case in 2027. Broadcom has explicitly said that Anthropic is on track to become its largest customer next year and sustain that position in 2028.
However, Anthropic has a problem that Alphabet does not; it is just now starting to generate profits. This raises questions about the company’s ability to actually pay Broadcom when the bill comes due. In this context, investors just received a critical piece of information to analyze: Anthropic’s confidential IPO prospectus. Diving into the details helps provide a better sense of Anthropic’s ability to make good on its commitment to Broadcom.
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Anthropic’s IPO Prospectus and the $161 Billion Broadcom CommitmentAccording to a confidential IPO prospectus seen by Reuters, Anthropic has $161.2 billion in Broadcom-related equipment lease obligations. These obligations are non-cancelable except in the case of a default. While this provides significant visibility for Broadcom, it doesn’t guarantee payment. If Anthropic faces severe funding difficulties, it could stop making lease payments, and Broadcom could resell the related AI racks. Additionally, its commitments toward Broadcom are not the only ones to consider. The company also has overall cloud, computing, and infrastructure obligations of $518 billion that it needs to fund.
In 2025, Anthropic’s revenue grew 12-fold to $4.6 billion. However, its operating loss more than doubled from $2.98 billion in 2024 to $8.06 billion in 2025. Additionally, the report notes that Anthropic’s cash, cash equivalents, and short-term investments as of the end of 2025 were just $20.28 billion. However, the company also raised $65 billion in a May funding round, which could place its current cash balance much higher than $20.28 billion. Nonetheless, its cash would still be far below its spending commitments.
Other reports indicate that Anthropic’s annual revenue run rate has increased by seven times in 2026 to around $65 billion. Additionally, the company’s adjusted operating profit in Q2 was reportedly just $559 million, or a 5.1% margin.
This makes it evident that the company cannot pay for its commitments based on its current operating profits. In turn, it will need to draw on other funding sources to fulfill these obligations.
Anthropic’s Funding Sources: IPO Proceeds and the AI XPV PlatformThere are several key levers Anthropic can pull to fund its huge AI infrastructure commitments. This includes the capital raise expected from its IPO. Anthropic is reportedly targeting a $2 trillion valuation and seeks to raise up to $100 billion in cash. Clearly, this would contribute significantly to funding its $518 billion in commitments, but a massive gap would still exist.
This makes the AI XPV Platform, which Broadcom announced in partnership with Blackstone NYSE: BX and Apollo Global Management NYSE: APO, critical to bridging the gap as Anthropic pursues longer-term profitability. The firms have already launched the initial $35 billion tranche of this vehicle, which will support an over-1-GW deployment.
Under this agreement, an Apollo-managed investment fund pays Broadcom for the chips as Anthropic deploys them, and then receives payments from Anthropic over time as it leases the racks. Broadcom also provides a backstop where, if Anthropic doesn’t pay, it pays Apollo’s investors a portion of the difference. That backstop is considerable, at a maximum of $29 billion for the first tranche. Broadcom expects Anthropic to deploy 15 GW of its chips in 2027 and 2028 combined, implying that the total funding required will be many times higher than the initial $35 billion.
Critically, the initial lease has a five-year term. This gives Anthropic a long runway to grow and improve its profitability in order to make the necessary payments. This is ultimately what the success of the deal rests on. The firm projects revenue of $190 billion to $200 billion in 2028, which could lead to sizable profits if margin expansion progresses.
Anthropic’s IPO: A Key Broadcom Watch Item99th Percentile
Moderate Buy
49.2% Upside
Healthy
Strong
0.78 Selling Shares
68.53%
See Full Analysis
Broadcom expects Anthropic to become its largest XPU customer, but the company has over $500 billion in spending commitments.
Anthropic is experiencing extremely rapid growth and has reportedly nudged its way into adjusted operating profitability, putting it on a solid trajectory.
However, Anthropic still has a long way to go to close the gap between its commitments and its cash flow.
In turn, with respect to Broadcom’s outlook, it will be critical to monitor Anthropic’s financials, which will become much easier to monitor and verify after its IPO.
Reports indicate that Anthropic’s IPO could take place after the November mid-term elections.
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Coinbase získala schválení CFTC pro Coinbase Clearing LLC, což jí umožní zúčtovávat plně zajištěné futures, opce na futures a swapy na vlastní platformě. Tím posiluje svou integrovanou americkou derivátovou infrastrukturu.
Key Takeaways Coinbase can now clear fully collateralized futures, options on futures and swaps through its own platform.Vertical integration may cut third-party reliance, simplify operations & speed up regulated product launches.Native USDC collateral and 24/7 settlement support Coinbase's institutional-grade derivatives ecosystem. Coinbase Global (COIN - Free Report) recently received CFTC Approval for Coinbase Clearing LLC. This marks an important step in the company’s efforts to build a fully integrated U.S. derivatives platform. The approval completes Coinbase’s domestic derivatives infrastructure stack, giving it control over an exchange, futures commission merchant and derivatives clearing organization. The development further supports Coinbase’s ambition to evolve into a broader “everything exchange” through continued product and infrastructure expansion.
The approval enables Coinbase Clearing to clear fully collateralized futures, options on futures and swaps. Coinbase has highlighted native USDC collateral and 24/7 settlement capabilities as key features of the platform.
Vertical integration should expand Coinbase’s addressable market while improving the economics and flexibility of its derivatives business. By controlling clearing alongside execution and brokerage, the company can reduce its dependence on third-party infrastructure, simplify operations and potentially accelerate the introduction of new regulated products. This becomes increasingly important as derivatives account for a larger share of crypto trading activity. Coinbase is expanding beyond its traditional role as a cryptocurrency exchange toward becoming a broader financial-market infrastructure provider.
The approval also strengthens Coinbase’s ability to develop an institutional-grade, regulated derivatives ecosystem. At the same time, the company will continue to rely on existing partners for certain offerings, including margined derivatives and its planned launch of single-stock perpetuals.
Overall, greater control over the derivatives value chain should provide Coinbase with additional avenues for product expansion, enhance operational flexibility and potentially improve the operating leverage of its derivatives franchise as crypto markets continue to mature.
What About Its Peers?Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price PerformanceShares of COIN have lost 17.6% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive ValuationCOIN trades at a price-to-earnings ratio of 86.71, significantly above the industry average of 14.76.
Image Source: Zacks Investment Research
Estimate Movement for COINThe Zacks Consensus Estimate for COIN’s third-quarter and fourth-quarter 2026 earnings per share (EPS) witnessed northbound movement in the last 30 days. The same holds true for 2026 and 2027.
Key Takeaways CSX trades at a higher forward P/E ratio than its industry average, signaling an expensive valuation.CSX shares have gained so far this year, outperforming its industry and peers like CNI and NSC.For 2026, CSX now expects mid-to-high single-digit revenue growth (prior view: mid-single-digit growth). CSX Corporation (CSX - Free Report) looks expensive from a valuation standpoint. Considering the forward 12-month price-to-sales ratio (P/E-F12M), CSX is trading at a premium compared to the industry.
The stock has a forward 12-month P/E-F12M of 21.61X compared with 20.66X for the industry over the past five years. The company’s forward 12-month P/E-F12M ratio is also above the median level of 17.35X over the past five years. These factors indicate that the stock’s valuation is unattractive. CSX has a Value Score of F.
CSX P/E Ratio (Forward 12 Months) Vs. Industry Image Source: Zacks Investment Research
Now, the question is whether it is worth buying, holding, or selling the CSX stock at current prices. Let us delve deeper to find out.
Headwinds Weighing on CSX StockRail network issues due to headwinds like locomotive or crew/labor shortages and other service disruptions represent a major challenge for CSX. Network issues or supply chain constraints are likely to adversely impact service levels, in turn hurting operating efficiency or volume of shipments. High labor costs and elevated operating expenses are hurting the bottom line.
CSX’s service metrics weakened in second-quarter 2026 as higher-than-expected volume met tighter crew availability. Management expects sequential service improvement, but sustained volume growth could continue to test network fluidity and execution.
Coal market weakness is another headwind for CSX. The coal business remains subject to secular pressures from greener alternatives, which is leading to the planned retirement of coal units. The weak coal market has resulted in below-par coal revenues. Revenues fell 15% and volume declined 2% in 2025. In second-quarter 2026, coal revenue rose 9% and volume increased 4%, but domestic coal tonnage fell 2%. Management expects stable-to-positive conditions, yet the domestic market has declined over the last decade, and export coal remains volatile.
Macroeconomic concerns are leading to a tough freight environment. Risks associated with an economic slowdown, geopolitical tensions and tariff-induced economic uncertainty do not bode well for railroad stocks like CSX.
CSX Stock’s Price PerformanceShares of CSX stock have gained 29.5% so far this year, outperforming the Zacks Transportation - Rail industry’s 19.4% surge, as well as that of other industry players, Norfolk Southern Corporation (NSC - Free Report) and Canadian National Railway Company (CNI - Free Report) ), within the same time frame.
CSX Stock’s YTD Price Comparison Image Source: Zacks Investment Research
Factors Working in Favor of CSX StockCSX is benefiting from broader volume growth, pricing and cost discipline across its rail franchise. CSX's upbeat outlook for 2026 is noteworthy as well. For 2026, CSX now expects mid-to-high single-digit revenue growth (including fuel, based on the current forward curve for diesel) compared with its prior guidance of mid-single-digit revenue growth. Operating margin expansion is now anticipated to exceed 350 basis points compared with the previous expectation of around the higher end of the 200-300 basis points range. Free cash flow is now anticipated to increase more than 80% compared with the prior expectation of growth of more than 60%.
CSX’s focus on improving workplace safety for employees is also commendable. CSX continues to reduce incidents through training, technology and operating discipline. As a reflection of this, the Federal Railroad Administration or FRA Personal Injury Frequency Index, a measure of the number of FRA-reportable injuries per 200,000 man-hours, improved to 0.94 in 2025 from 1.23 in 2024, while the train accident rate fell to 3.08 from 3.56. In second-quarter 2026, the injury rate improved another 19% year over year to 0.83, and the train accident rate improved 30% to 2.72. Management plans further gains through risk awareness, field engagement and applied technology.
CSX's consistent efforts to strengthen its relations with its employees are reflected through the ratification of multiple collective bargaining agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers, Iron Ship Builders, Forgers & Helpers; the Brotherhood of Locomotive Engineers and Trainmen.Such deals reflect the employee-friendly attitude of CSX, through which it strives to maintain cordial relations with its employees and the unions representing them, thereby providing a healthy work environment at CSX.
CSX’s continued use of dividends and share repurchases reflects a disciplined capital-allocation policy.Such shareholder-friendly initiatives should boost investor confidence and positively impact the bottom line.
What Do Earnings Estimates Say for CSX?The positive sentiment surrounding CSX stock is evident from the fact that the Zacks Consensus Estimate for the third quarter of 2026 earnings has been revised upward in the past 90 days. The consensus mark for full-year 2026 and 2027 earnings has also been projected upward in the past 90 days.
The favorable estimate revisions indicate brokers’ confidence in the stock.
Image Source: Zacks Investment Research
Time to Retain CSX StockCSX’s outlook is supported by better volume, pricing and cost execution, with management raising its full-year revenue, margin and free cash flow expectations. Safety trends also remain favorable, while broader labor agreements and continued dividends and share repurchases support the operating and shareholder-return profile.
Despite capital returns remaining solid, we advise investors not to buy CSX stock now. Service execution still needs work after higher dwell and weaker trip-plan performance in the second quarter. Coal remains exposed to long-term domestic demand decline and export-rate volatility despite a better near-term backdrop. Rail network issues due to headwinds like locomotive or crew/labor shortages and other service disruptions and weakness pertaining to freight revenues and volumes, continue to weigh on CSX performance. Unattractive valuation acts as another concern.
Considering all the aforesaid factors, we advise investors to wait for a better entry point. For those who already own the stock, it will be prudent to stay invested. The company’s current Zacks Rank #3 (Hold) justifies our analysis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FinTech divize Nasdaq ve 2. čtvrtletí zvýšila výnosy o 16 % na 539 milionů USD, z toho organicky o 15 %. Nasdaq Verafin přidal 47 SMB klientů a šest enterprise obchodů.
Key Takeaways Nasdaq's FinTech revenues rose 16% to $539 million in the second quarter, with 15% organic growth. Nasdaq Verafin added 47 SMB clients and six enterprise deals, while AI expands fraud and AML capabilities. Nasdaq added 58 FinTech clients, seven cross-sells and 107 upsells, strengthening recurring revenue growth. Nasdaq, Inc.’s (NDAQ - Free Report) Financial Technology business is emerging as an increasingly important growth engine as financial institutions accelerate investments in cloud-based capital-markets infrastructure, regulatory technology and financial-crime solutions. The business offers an attractive mix of recurring and subscription-based revenues, potentially providing Nasdaq with greater revenue visibility while reducing reliance on transaction-sensitive businesses.
In the second quarter of 2026, FinTech revenues increased 16% year over year to $539 million, including 15% organic growth, while FinTech annualized recurring revenue grew 16% organically. Growth was broad-based, with all three FinTech subdivisions delivering double-digit growth for the second consecutive quarter. Financial Crime Management Technology remains an important opportunity, with Nasdaq Verafin adding 47 new SMB clients and six enterprise deals during the quarter. Nasdaq is also integrating AI into fraud and anti-money-laundering workflows, including through its agentic AI workforce, which could enhance the efficiency and value of its solutions for financial institutions.
Regulatory Technology provides another structural growth avenue as financial institutions contend with increasingly complex compliance, surveillance and risk-management requirements. Meanwhile, Capital Markets Technology remains the largest FinTech subdivision, generating $321 million in second-quarter revenues, up 15% year over year, driven by subscription growth, data-center expansion and continued demand for its technology solutions.
Nasdaq’s One Nasdaq strategy could further strengthen FinTech growth by enabling the company to cross-sell technology, data, index and market-infrastructure solutions across its client base. In the second quarter, NDAQ added 58 new FinTech clients, seven cross-sells and 107 upsells, while cross-sells represented more than 15% of the sales pipeline. Continued cloud and SaaS adoption, AI integration and cross-selling could therefore help FinTech become a larger contributor to Nasdaq’s recurring revenue base and long-term growth.
What About Other Players? Intercontinental Exchange Inc. (ICE - Free Report) has built a diversified financial infrastructure platform that extends well beyond its traditional exchange operations into financial technology, data and workflow solutions. Its Fixed Income & Data Services business provides fixed-income data and analytics, indices, execution, clearing, and data and network technology, while its Mortgage Technology business offers technology across mortgage origination, closing, servicing, data and analytics. In the second quarter of 2026, overall recurring revenue grew 8% to $1.35 billion, highlighting the increasing contribution of technology- and subscription-oriented businesses to ICE's diversified growth model.
CME Group Inc. (CME - Free Report) operates a broad financial-market infrastructure platform spanning exchange trading, clearing, market data and technology-enabled trading services. Its CME Globex platform provides electronic access to futures and options, while CME Clearing serves as the central counterparty for futures, options and OTC transactions. The company also generates growing revenues from market data, analytics, connectivity, co-location and other technology services that support clients throughout the trading lifecycle. CME is also migrating listed derivatives on Globex to Google's ultra-low-latency cloud infrastructure, which could further expand its technology and connectivity capabilities.
NDAQ’s Price PerformanceShares of NDAQ have gained 5.6% in the past year, outperforming the industry.
Image Source: Zacks Investment Research
NDAQ’s OvervaluationThe stock is overvalued compared with its industry. It is currently trading at a price-to-earnings multiple of 20.16, higher than the industry average of 19.74.
Image Source: Zacks Investment Research
Estimate Movement for NDAQThe Zacks Consensus Estimate for NDAQ’s fourth-quarter 2026 earnings per share (EPS) has moved up 0.9% in the past 60 days. The same for full-year 2026 and 2027 EPS has moved up 0.5% and 0.6%, respectively, in the past 60 days.
Key Takeaways Scorpio Tankers' Q2 EPS jumped 231.9% as stronger tanker rates drove a sharp earnings rebound.STNG's TCE revenue rose 75.9% to $391.8M, while vessel revenue climbed 77.5% to $408.7M. Scorpio Tankers had over $1.9B in cash in July and 12 newbuildings on order at Q2-end. Scorpio Tankers Inc. (STNG - Free Report) posted a sharp second-quarter earnings rebound as higher tanker rates lifted operating results. Earnings of $4.68 per share exceeded the Zacks Consensus Estimate of $4.51 and rose 231.9% from a year earlier.
The earnings beat was the fourth successive one by the shipping company. The average beat is nearly 10%.
The quarter also strengthened STNG’s capacity to return capital and fund fleet renewal. That flexibility matters because tanker earnings can swing quickly with freight rates, vessel supply and shifting trade routes.
STNG’s Q2 Beat Shows the Power of Higher TCE RevenuesTime charter equivalent, or TCE, revenues climbed 75.9% year over year to $391.8 million from $222.8 million. The result shows how stronger realized rates can translate into a large revenue increase when vessel utilization remains supportive.
Adjusted EBITDA reached $300.5 million, while adjusted net income was $243.7 million. Those figures reinforce the operating leverage in STNG’s business when product tanker pricing moves higher.
Scorpio Tankers Turns Rate Strength Into EarningsVessel revenues increased 77.5% year over year to $408.7 million from $230.2 million. The company’s $391.8 million revenue figure also exceeded the Zacks Consensus Estimate of $380 million, producing a 2.9% sales surprise.
International Seaways, Inc. (INSW - Free Report) is another tanker operator with exposure to both crude and refined-product transportation, including MR and LR-class vessels. Its fleet mix makes it a relevant industry reference point when considering how tanker owners respond to changing freight economics.
STNG’s Buybacks and Liquidity Add FlexibilityScorpio Tankers repurchased about 2 million shares for $155 million during the second quarter at an average price of $77.72. As of July 30, $445 million remained available under the company’s 2023 share-repurchase program.
Financial flexibility remains substantial. Management reported more than $1.9 billion of cash in July, while the company’s cash breakeven rate was below $11,000 per day, supporting resilience if freight rates weaken from recent highs.
Scorpio Tankers Has Newbuilding Commitments AheadSTNG had 12 newbuildings on order at the end of the second quarter. In July, remaining newbuilding and joint-venture commitments totaled a little more than $978 million, creating a meaningful future funding requirement even with substantial liquidity.
Global Ship Lease (GSL - Free Report) , another shipping company, is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. The company is actively looking to modernize its fleet. For STNG, newer vessels can support efficiency, but higher capital spending could temper free-cash-flow conversion.
STNG’s Momentum Score Complements a Neutral RankThe bottom line is that STNG’s second-quarter surge reflected powerful earnings leverage from favorable tanker rates, while buybacks, liquidity and fleet renewal expanded management’s capital-allocation options. The same setup remains exposed to freight-rate volatility and the cyclical nature of tanker markets.
STNG currently carries a Zacks Rank #3 (Hold), with a Momentum Score of B, Value Score of B, Growth Score of C and VGM Score of B. The favorable Momentum and VGM Scores point to supportive trading and combined style characteristics, but the Zacks Rank remains the primary short-term signal and should be considered alongside those scores rather than replaced by them. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AI zlevňuje tvorbu obsahu, ale nejvíc z toho těží firmy s kurátorovanými daty a distribucí, hlavně Netflix a Spotify. Disney a velké hudební labely naopak čelí tlaku, protože AI snižuje hodnotu jejich katalogů.
How We Got HereOn Dec. 11, 2025, Disney (DIS -0.04%) agreed to license more than 200 characters to Sora, OpenAI's AI video app, for three years and to invest $1 billion in OpenAI. On the evening of March 23, 2026, roughly 30 minutes after the two teams finished a working meeting, OpenAI told Disney it was shutting Sora down entirely.
It announced the shutdown publicly the next day. Disney walked away, and no money ever changed hands. We keep coming back to that half-hour because it shows how quickly a big artificial intelligence (AI) partnership can vanish.
AI is already cutting production costs. Big-budget productions often spend 20% to 40% of their budgets on visual effects and post-production, and that's the first cost AI cuts. If you've built a career in visual effects, that line item is your paycheck. Netflix (NFLX -0.73%) has already used generative AI to make 17 minutes of its docuseries The American Experiment "twice as fast and at half the cost."
In music, the flood has already arrived. At the June peak, more than half of the daily uploads to music-streaming service Deezer, roughly 90,000 tracks a day, were AI-generated. If you're a musician, every new song you release has to compete with that. Listeners, at least, mostly aren't choosing the AI tracks. Fully AI-generated music accounts for just 1% to 3% of streams on Deezer, and Deezer says most of that listening is fraud.
The Assets AI Can't ReproduceSo, who comes out ahead of the AI revolution in the entertainment sector? We'd ask one question of any media company: What does it own or do that becomes more valuable when AI makes content cheap to generate?
A company in the appreciating category owns something that AI abundance makes scarcer relative to demand. That could be a curation layer, which helps people with limited time choose from an endless supply. It could be an ad graph, the user data behind ad targeting, which improves with every bit it collects. Or it could be a workflow already installed on a million desks.
A company in the diluting category is counting on the flood staying contained. It wins only if its brand or pricing power holds up against rivals operating at a fraction of the cost.
Scorecard: Which Assets Appreciate, Which Get DilutedThese are some of the public companies with the most riding on that question.
AppreciatingNetflix (NFLX -0.73%) collects its own viewing data on more than 325 million paid memberships. It has disrupted itself three times. In March 2026, it paid $587 million for InterPositive, Ben Affleck's AI filmmaking start-up. A 33% operating margin in the second quarter of 2026 gives Netflix the cash to keep buying its way to the front of every new wave.
Spotify (SPOT -1.00%) has 777 million monthly active users and close to two decades of data on individual tracks. Every track in the daily AI flood makes Spotify's knack for steering listeners toward songs they'll finish a little more valuable. If you've ever skipped song after song hunting for one you actually like, you already know why.
Appreciating With CaveatsAlphabet (GOOG +2.45%) (GOOGL +2.34%) owns YouTube, which is forecast by research firm eMarketer to pull in roughly $9 billion of U.S. connected-TV (streaming TV) ad revenue in 2026. It also owns Veo and Gemini's image model, two of the leading AI video and image generators.
That means Alphabet collects on both sides: from the platform where AI content lands and from the tools people use to make it. In September, a federal judge declined to break up Google's adtech business, ordering behavioral fixes and a six-year monitor instead. Google has said it will appeal the underlying ruling.
Meta Platforms (META -0.73%) runs the largest AI-optimized social ad graph in the world. In September 2025, it launched Vibes, a feed of AI-generated short videos, on the belief that synthetic video will go mainstream. That's far from certain. If advertisers ever start paying less for AI-made inventory than for human-made content, Meta would feel it most because it distributes more of that content than anyone else.
Adobe (ADBE +2.81%) owns Creative Cloud, its suite of design apps that includes Photoshop, and the huge base of customers already working in it. That base matters more now that the top AI image and video generators are roughly interchangeable.
Adobe's annual recurring revenue from AI-first products passed $650 million last quarter, up more than 150% year over year. A new CEO, Anil Chakravarthy, takes over on Dec. 1. The thesis depends on Adobe pressing that distribution advantage faster than the models commoditize.
DilutedWalt Disney (DIS -0.04%) owns Mickey Mouse, Marvel, Pixar, and Star Wars, and no AI company can legally copy most of them. Keeping it that way now takes lawyers. Disney sued image generator Midjourney in June 2025, and shortly before signing its OpenAI deal, it sent Google a cease-and-desist letter accusing the tech giant of widespread copyright infringement. That's what counting on the flood staying contained looks like.
Meanwhile, AI is shrinking the edge Disney's budgets used to buy. Few rivals could afford the visual effects that make a Marvel movie look like a Marvel movie, and that's the cost AI cuts first. Disney's first big AI licensing deal died with Sora, which was reportedly burning around $1 million a day, and AI companies losing money that fast make shaky customers. Disney can still win, but only the way the diluting side wins, with a brand strong enough to hold up against rivals operating at a sliver of its cost.
The best reason to own Disney today is its parks, cruise ships, and merchandise business, which together earned more than half of its operating profit last quarter. That's a separate bet from the one this article is about.
Universal Music Group (UMGNF -2.83%), Warner Music Group (WMG -0.80%), and Sony Music, part of Sony Group (SONY +1.07%), own the catalogs behind most of the songs people stream. In 2024, all three sued AI song generators Suno and Udio, arguing that machine-made tracks would "substantially dilute the royalty pools" paid to artists.
By late 2025, Universal had settled with Udio, and Warner had settled with both. Each settlement came with a licensing deal. So, Suno, one of the companies the labels accused of diluting their business, now trains on licensed label music.
The licensing money is still too small to move the results. Take out Downtown, an artist-services company Universal bought in February 2026, and Universal's second-quarter revenue growth drops from 13% to about 6% in constant currency. The royalty hit from AI is small, too, for now. One big reason is that curators keep AI songs out of listeners' way.
Deezer strips them from its recommendations and playlists, and in a survey Deezer commissioned, 97% of people couldn't tell AI music from human-made music in a blind test. That leaves the labels' protection in the hands of the streaming services. In music, the power is shifting to whoever decides what plays next, and for hundreds of millions of listeners, that's Spotify.
The Bottom LineBoth Netflix and Spotify, the clearest appreciating companies on our list, own curation assets that gain value with every new wave of AI content. Netflix has shown it can reinvent itself three times over. Spotify built the taste engine that other companies' AI floods now need. Disney and the major labels land on the diluted side. Their characters and catalogs still matter, but AI keeps lowering the walls around them, and the licensing money meant to make up the difference is too small or too shaky to count on.
With the cost of generating content heading toward zero, the companies worth owning are the ones sitting on something AI can't reproduce.
WTW uzavřela dohodu se Sapien Software o dodávkách globálního HR a deal intelligence softwaru pro středně velké firmy při divesticích, fúzích a akvizicích.
NEW YORK, Sept. 30, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW) a leading global advisory, broking and solutions company, today announced that it has entered into an agreement with Sapien Software, LLC, to provide global HR and deal intelligence software and solutions for mid-market companies involved in divestitures, mergers and acquisitions.
The partnership between WTW and Sapien provides HR Management System, Human Capital Management System, payroll administration, international benefits administration and managed services as part of the WTW’s Human Capital Divestitures in a Box (DIAB) solution. The DIAB solution is a one-stop, pre-packaged HR solution that’s globally scalable and designed to support both buyers and sellers. It combines WTW’s M&A consulting expertise in due diligence, deal planning, workforce integration and employee communication, with Sapien’s market leading human capital management software solutions.
Perry Papantonis, Senior Managing Director and Global M&A Leader at WTW said, “WTW’s Divestitures in a Box solution enables companies to accelerate day one readiness across all HR plans, programs, and systems, reduce companies’ reliance on Transition Services Agreements (TSAs), and enhance both corporate and employee experiences during transactions. Sapien’s platform will help organizations to aggregate and model data to support the M&A sell-side process and buyer requests and serve as a full global Human Resources Information System HRIS following transaction close.”
Ryan Tweedie, Managing Partner of Sapien, said: “With people at the center of every corporate transition, our platform compliments WTW’s solution to fulfill on the promise of a one-stop, pre-packaged, cost-effective solution that is globally scalable and enables both buyers and sellers to move with speed, precision and confidence.”
Infused with AI for easy decision support queries, and with built-in managed services that are already a part of every implementation, Sapien’s technology will complement WTW’s solution to help deliver a new level of speed, cost-effectiveness, and insights necessary to ensure success before, during and after divestiture or M&A activity.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
Learn more at wtwco.com.
About Sapien Software, LLC
Sapien is the most progressive and innovative provider of HR software and data intelligence for the global mid-market with unparalleled expertise in divestitures. Purpose-built to be a single source of truth for divestiture planning and to evolve from data ingestion to Day One stand-alone readiness, Sapien is intuitive, rapidly customizable and proven to deliver the functionality, versatility, and affordability that mid-market globals need while guiding organizations through the divestiture process with workforce insights for decision-making. Led by industry veterans and designed to be right for now and tomorrow, Sapien is multi-lingual, multi-currency, and payroll/benefits agnostic. Our proprietary Human Resources Augmentation (HRA) and built-in AI functionality accessed via Natural Language Processing offers an unparalleled layer of support and is available globally. For more information: www.sapiensoftware.com
Shell schvaluje druhou fázi LNG Canada v Kitimatu, která zdvojnásobí kapacitu z 14 na 28 mtpa. Firma očekává téměř 6 mtpa navíc a dvouciferné výnosy z projektu.
Key Takeaways Shell approves LNG Canada Phase 2, doubling production capacity from 14 mtpa to 28 mtpa.Shell expects nearly 6 mtpa of additional LNG and double-digit returns once Phase 2 comes online.Phase 2 also triggers a Coastal GasLink expansion and a Fluor contract valued at about $7.5 billion. Shell plc (SHEL - Free Report) ,through its affiliate Shell Canada Energy, has taken a final investment decision (FID) on the second phase of the LNG Canada project in Kitimat, British Columbia. The decision clears the way for a major expansion that will double the facility’s production capacity and strengthen Shell’s position in the global liquefied natural gas market.
The move marks a significant development from earlier this month, when the LNG Canada partners were still evaluating the proposed expansion. Phase 2 will add two LNG processing trains and lift the facility’s total production capacity from 14 million tonnes per annum (mtpa) to 28 mtpa. Commercial operations are expected to begin in the early 2030s.
Shell Secures More LNG From CanadaShell owns a 40% stake in LNG Canada and is expected to receive nearly 6 mtpa of additional LNG once Phase 2 comes online. The expansion is aligned with the energy major’s strategy of maintaining a leading integrated gas and LNG business through the 2040s while connecting Canadian natural gas resources with its worldwide trading and customer network.
The project is also expected to generate double-digit returns and support Shell’s long-term cash-flow growth. Shell said the investment is expected to deliver an internal rate of return above the hurdle rate for its Integrated Gas business.
The latest FID follows LNG Canada’s successful ramp-up. As highlighted in our previous coverage, the first phase shipped its first cargo in 2025 and subsequently reached full capacity. By the second quarter of 2026, the project had delivered more than 100 cargoes, while its ramp-up helped Shell’s first-half 2026 LNG liquefaction volumes rise 17% year over year.
Phase 2 Targets Growing Asian LNG DemandLNG Canada benefits from its location on Canada’s Pacific Coast, providing relatively direct access to major Asian LNG-consuming markets. This positioning could become increasingly valuable as buyers seek geographically diversified and reliable sources of natural gas.
Shell expects global LNG demand to expand significantly over the coming decades. According to its LNG Outlook 2026, worldwide LNG demand is projected to rise around 60% by 2040 and about 65% by 2050. Demand is expected to increase from 422 mtpa in 2025 to nearly 700 mtpa by 2050, implying the need for additional liquefaction capacity through the 2030s and 2040s.
That outlook strengthens the strategic case for bringing additional Canadian LNG supplies into Shell’s global portfolio.
Expansion Extends Beyond Two New LNG TrainsThe Phase 2 development will involve more than the addition of two liquefaction trains. Plans also include another LNG storage tank, a condensate tank, an additional loading berth and expanded utility and processing systems at the existing Kitimat facility.
The LNG Canada joint venture includes Shell with a 40% interest, PETRONAS with 25%, PetroChina with 15%, Mitsubishi Corporation with 15% and Korea Gas Corporation with 5%. Each partner is responsible for marketing its proportional share of LNG production and supplying its share of feed gas.
Earlier plans also created an option for MNT Investments LP, representing five neighboring First Nations, to invest up to C$1 billion for a majority interest in an entity that would own the LNG storage tank associated with Phase 2.
Coastal GasLink Capacity Set to Nearly DoubleShell’s decision has also unlocked TC Energy Corporation’s (TRP - Free Report) related expansion of the Coastal GasLink (CGL) pipeline, which supplies natural gas to LNG Canada.
TRP announced that CGL Phase 2 will now proceed after LNG Canada’s FID satisfied the conditions tied to its previously approved conditional investment decision. The pipeline currently transports about 2.1 billion cubic feet per day of natural gas. Phase 2 is designed to nearly double that capacity by adding compressor stations and upgrading infrastructure along the existing 670-kilometer route to Kitimat.
Under the execution structure, LNG Canada will manage construction while CGL will remain the pipeline’s owner, operator and permit holder. CGL and TC Energy will provide certain technical advisory and procurement services along with operational expertise to support delivery. The structure is intended to limit CGL’s capital commitments as well as its exposure to construction cost and scheduling risks.
Fluor Lands Major Phase 2 ContractThe FID also created a major project opportunity for Fluor Corporation (FLR - Free Report) . Fluor said its joint venture with JGC Corporation has been selected to provide engineering, procurement, fabrication, construction and commissioning services for Phase 2.
Fluor’s share of the award is valued at approximately $7.5 billion and is expected to enter its backlog in the third quarter of fiscal 2026. The contract adds substantial long-duration work to Fluor’s Energy Solutions business and gives the company another large assignment at the LNG Canada site after its involvement in the first phase.
LNG Canada Becomes a Bigger Pillar of Shell’s LNG StrategyThe Phase 2 FID transforms LNG Canada from a recently commissioned growth project into a much larger long-term platform for Shell, currently carrying a Zacks Rank #3 (Hold). Doubling capacity to 28 mtpa gives the company greater access to Asian LNG demand while broadening the geographic diversity of its global supply portfolio.
The decision also triggers sizable infrastructure work beyond the liquefaction plant, including the Coastal GasLink expansion and a multibillion-dollar Fluor contract. With global LNG consumption expected to rise substantially over the coming decades, LNG Canada Phase 2 could become an increasingly important contributor to Shell’s Integrated Gas growth and cash-flow ambitions.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Kinsale Capital ve 2. čtvrtletí zapojila AI do vlastních underwritingových tabulek a zlepšila ostatní underwritingový nákladový poměr na 10,3 % z 10,6 % před rokem.
Key Takeaways Kinsale Capital incorporated AI into its proprietary underwriting worksheets in the second quarter. Kinsale Capital's other underwriting expense ratio improved to 10.3% from 10.6% a year earlier. Kinsale Capital uses 17 years of company data to refine underwriting and pricing models. Kinsale Capital Group, Inc. (KNSL - Free Report) continues to leverage its technology-enabled operating model and lean cost structure to strengthen its competitive position in the excess and surplus (E&S) insurance market. As competition intensifies, technology is becoming increasingly important to Kinsale’s ability to support underwriters, respond quickly to brokers and maintain operating efficiency.
Kinsale is further enhancing this advantage through artificial intelligence, automation and data analytics. During the second quarter of 2026, AI was incorporated into Kinsale’s proprietary underwriting worksheets, with additional customized applications under development. Kinsale also has 17 years of company data housed in a single database, providing a valuable foundation for refining underwriting and pricing models while balancing growth with profitability.
The benefits of this technology-driven model are already evident in Kinsale’s operating efficiency. Kinsale’s other underwriting expense ratio improved to 10.3% in the second quarter of 2026 from 10.6% a year earlier, despite continued investments in technology and business expansion. Although the overall expense ratio increased to 21.7%, the rise was primarily attributable to higher net commissions associated with greater reinsurance retention.
Continued investment in proprietary data, AI, and automation could enable Kinsale to improve employee productivity, accelerate underwriting decisions and lower unit costs as it scales. While broader adoption of similar technologies across the E&S industry could reduce Kinsale’s relative advantage over time, its extensive proprietary data and technology infrastructure provide an important foundation for sustaining operational efficiency and underwriting profitability.
What About Other Players? Chubb Limited (CB - Free Report) is considered a strong user of technology, particularly in commercial insurance, cyber insurance, underwriting analytics and risk modeling. CB relies on technology mainly to improve underwriting, claims processing, cyber protection and distribution efficiency. Chubb is adopting technologies such as artificial intelligence, predictive analytics, industry data and catastrophe models to assess business risks more accurately rather than relying solely on traditional underwriting. These measures enable better pricing and risk selection, which usually lead to lower combined ratios and stronger underwriting profitability.
First American Financial Corporation (FAF - Free Report) has increasingly embedded technology into its business model to improve efficiency, reduce fraud risk, accelerate real estate closings and enhance customer experience across title insurance, settlement and mortgage services. FAF is at the forefront of digitization, driving innovation to improve the customer experience, enhance security, accelerate transactions and become the preferred choice for title insurance and settlement services. By leveraging AI, machine learning and advanced data assets, the company accelerates transaction timelines, minimizes risk and provides digital platforms for real estate professionals and consumers.
KNSL’s Price PerformanceShares of KNSL have lost 22.06% in the past year compared with the industry.
Image Source: Zacks Investment Research
KNSL’s Expensive ValuationThe stock is overvalued compared with its industry. It currently trades at a price-to-book multiple of 3.62, higher than the industry average of 1.4.
Image Source: Zacks Investment Research
Estimate Movement for KNSLThe Zacks Consensus Estimate for KNSL’s second-quarter and third-quarter 2026 earnings per share (EPS) has moved down 0.2% and 0.5%, respectively, in the past 60 days. The same for full-year 2026 EPS has moved up 0.3% in the past 60 days.
Standard Chartered zahájila pokrytí ENA s cílovou cenou 2 USD na konec roku 2028, což je zhruba osminásobek tehdejší ceny kolem 0,25 USD. Banka sází na růst USDe, tokenizaci a plánované odkupy ENA z výnosů Ethena.
Standard Chartered has initiated coverage of Ethena’s ENA token with a $2 price target for the end of 2028, putting the bank’s first published valuation at roughly eight times the token’s current market price.
Summary
Standard Chartered initiated ENA coverage with a $2 price target for the end of 2028, implying roughly 700% upside from its Sept. 30 price near $0.25. Ethena’s exposure to stablecoins, perpetual futures and tokenized assets forms the core of the bank’s valuation case. USDe has expanded beyond crypto funding rates into institutional credit, tokenized equities and traditional credit assets. Standard Chartered expects recurring ENA buybacks tied to Ethena revenue to give the token greater exposure to growth across its businesses. Standard Chartered Global Research said on Sept. 30 that Ethena’s exposure to stablecoins, perpetual futures and tokenization underpins its outlook, while a newly introduced ENA buyback program could allow the token to benefit as those markets grow.
ENA traded near $0.25 on Sept. 30, leaving the cryptocurrency roughly 87% below Standard Chartered’s target. A move to $2 would translate into gains of approximately 700% from that level.
Geoff Kendrick, Standard Chartered’s global head of digital assets research, authored the report and described Ethena as a “scalable yield-bearing stablecoin.” The bank focused much of its investment case on the growth of USDe and the changing mix of assets used to generate returns for the synthetic dollar.
Standard Chartered expects ENA to benefit from three markets Ethena sits at the intersection of perpetual futures, tokenization and stablecoins, according to Standard Chartered, giving the protocol exposure to three areas the bank expects to grow over the coming years.
USDe remains central to the thesis. Standard Chartered said the synthetic dollar popularized yield-bearing stablecoins after its late 2023 launch and became the fastest stablecoin to reach a $10 billion market capitalization.
Yield-bearing stablecoins currently account for roughly 5% of the stablecoin market, the bank estimated. Standard Chartered expects their share to grow as users seek yield alongside the functions already provided by dollar-linked tokens.
USDe originally generated much of its yield through the crypto basis trade, where Ethena held spot assets while using short perpetual futures positions to hedge price exposure. Standard Chartered said the strategy generated yields above 20% at times.
Ethena has since moved part of USDe’s backing into other sources of returns, reducing its dependence on crypto funding rates.
One part of that strategy involves institutional credit. Ethena and FalconX launched a $1 billion lending facility in August that allows assets backing USDe to finance secured and overcollateralized loans for institutional borrowers.
FalconX originates and services the loans through a special purpose vehicle, while qualified custodians hold collateral worth more than the outstanding loans. Under the structure, institutional lending represented approximately $310 million, or 6.9%, of USDe backing in early July.
Ethena takes the USDe basis trade into equities Ethena’s expansion beyond cryptocurrency markets forms another part of Standard Chartered’s case as the protocol looks for more places to deploy the strategy behind USDe.
As crypto.news previously reported, Ethena recently expanded its basis trade into tokenized U.S. equities and equity perpetual futures after its Risk Committee approved the framework.
Under the structure, Binance bStocks provide tokenized spot exposure while equity perpetual futures are used for the offsetting position. Binance had more than $2.9 billion in equity perpetual open interest when the plan was announced, while the equity basis had averaged 3.56% annualized over the previous six months.
Ethena Labs founder Guy Young described the move as the “most significant expansion of USDe’s funding mechanism since we started.”
The strategy gives Ethena another market in which it can run the basis trade that originally supported USDe. Ethena expects the opportunity in equity perpetuals to eventually become significantly larger than the corresponding crypto perpetual market.
Standard Chartered tied the expansion to a much larger forecast for tokenized assets. Its research expects real world assets deployed on blockchains to grow from around $40 billion today to $2 trillion by the end of 2028.
Ethena has already started allocating capital toward that market. In June, the company planned a $250 million allocation to Securitize’s tokenized AAA rated collateralized loan obligation fund as the product expanded to Solana.
The fund invests in U.S. dollar denominated AAA rated CLO tranches from primary and secondary markets, with BNY serving as custodian and sub adviser.
ENA buybacks support Standard Chartered’s price case Changes to ENA’s token economics make up another part of Standard Chartered’s $2 forecast.
Ethena proposed in August that 95% of net revenue generated by its branded businesses be directed toward recurring ENA buybacks once USDe supply reaches a series of predetermined thresholds.
The first threshold is set at $7.5 billion of USDe supply. Unlike an earlier $260 million buyback program that relied on a fixed pool of capital, the proposed structure would connect ENA purchases to recurring net revenue generated by Ethena businesses.
Changes are being made to the token’s supply schedule at the same time. Under the revised ENA arrangements, the Ethena Foundation purchased locked tokens from some large seed investors that had been selling ENA and planned to accelerate the remaining unlocks for original investors.
The changes would bring monthly releases for those investors to an end, while tokens allocated to the Ethena team remain under their existing vesting schedules.
USDe supply will determine when the proposed revenue based purchases begin. The stablecoin remained below $5 billion when the proposal was announced in August after its supply had previously reached a peak near $15 billion.
Institutional infrastructure around ENA has been developing alongside the changes to its token economics. CME Group introduced ENA reference rates in August covering London, New York and Asia Pacific market closes.
CF Benchmarks calculates the rates using transactions from eligible spot exchanges. Published every day, including weekends and holidays, the benchmarks can be used for portfolio valuation, risk management and financial products linked to ENA.
USDe backing has moved beyond crypto funding rates Ethena’s efforts to find more sources of yield have gradually changed the composition of the assets supporting USDe.
The FalconX facility gave Ethena a route into institutional credit, while the tokenized equity strategy opened another market for its delta neutral trading model. Its planned allocation to tokenized CLOs added exposure to traditional credit markets through blockchain based assets.
USDe’s expansion into new backing strategies has coincided with efforts to give the stablecoin more uses outside trading. Ethena launched the Ethena Pay beta in September, combining self custodial USDe balances with payments and annual reward rates of up to 6%.
Access initially opened to 400 users across eligible markets. Standard membership is free, while higher membership levels require users to lock specified amounts of ENA or meet referral requirements.
Ethena Pay Ltd. states that it is not a bank and that balances are not covered by the Federal Deposit Insurance Corporation or another government backed deposit insurance program.
ENA’s market performance has meanwhile responded to developments around USDe. The token gained 54.1% over the seven days through Sept. 26 as Ethena’s move into tokenized stocks and equity perpetuals drew market attention.
During that move, ENA traded around $0.2756 on Sept. 26 after reaching $0.2807, with the token sitting above its 20 day, 50 day, 100 day and 200 day moving averages.
Standard Chartered expects real world assets deployed on blockchains to grow from around $40 billion to $2 trillion by the end of 2028, the same timeframe covered by Kendrick’s $2 ENA price forecast.
Key Takeaways MYR Group's T&D revenues rose 10% to $1.06B, while operating income jumped 32.6%.T&D demand is supported by grid upgrades, electrification, data centers and manufacturing reshoring.MYRG's T&D backlog reached $1.27B, with trailing-12-month revenues at $2.1B through June 2026. MYR Group Inc.’s (MYRG - Free Report) Transmission & Distribution (T&D) segment continued to benefit from rising investment in electric-grid infrastructure during the first half of 2026. T&D revenues increased 10% year over year to $1.06 billion, supported by higher activity under unit-price and time-and-equipment contracts, partly offset by lower revenues from fixed-price contracts.
The segment accounted for 51.1% of MYRG’s total first-half revenues compared with 55.8% a year earlier. T&D operating income rose 32.6% year over year to $101.7 million in the first half of 2026, with operating margin expanding to 9.6% from 7.9%.
The improvement extends beyond these six months. The T&D segment generated $2.1 billion in revenues on a trailing-12-month basis through June 30, 2026, reflecting an 11.2% compound annual growth rate since 2021. The segment’s backlog stood at $1.27 billion at the end of June.
MYR Group is one of the largest U.S. contractors servicing the T&D sector of the electric utility industry. It provides T&D services throughout the United States and in Ontario, Canada. The T&D segment has strong, long-standing relationships with a diverse customer base where approximately 65% of business is performed under Master Service Agreements (MSAs).
Several structural trends are supporting the T&D segment. Spending on transmission and distribution infrastructure is expected to remain strong as utilities address aging grid infrastructure, system reliability and resiliency, new generation interconnections, electrification and plant retirements. Rising electricity demand from data centers and reshoring of manufacturing is another important catalyst. The company also highlighted large projects such as Maine’s Power Reliability Program and New York’s Central East Energy Connect transmission project.
Industry peers are seeing similar demand. Quanta Services (PWR - Free Report) reported second-quarter 2026 revenues for the Electric segment at $7.84 billion, up 43.6% year over year. The improvement was attributed to higher demand and contributions from acquired businesses. For the first half of 2026, electric revenues increased to $14.3 billion from $10.40 billion in the year-ago comparable period. Electric operating income climbed 51.9% to $1.46 billion in the first half of 2026. The segment’s backlog reached $43.8 billion as of June 30, 2026.
MasTec Inc.’s (MTZ - Free Report) Power Delivery segment generated $1.25 billion in revenues in the second quarter of 2026, up 19.2% year over year. First-half revenues increased 17.8% to $2.29 billion. Segment adjusted EBITDA for the first half of 2026 was $668 million compared with $439 million in the year-ago comparable period.
MYRG’s Price Performance, Valuation & EstimatesMYR Group shares have gained 38.5% in the past year, outperforming the industry's 79.4% fall.
Image Source: Zacks Investment Research
MYRG is currently trading at a forward 12-month P/E of 21.15X, a premium compared with the industry’s 17.43X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 points to year-over-year earnings growth of 65.1%, while the 2027 estimate implies growth of around 12.9%.
Image Source: Zacks Investment Research
Earnings estimates for both years have moved up over the past 60 days.
Image Source: Zacks Investment Research
MYR Group stock currently sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Edison International's stock shed nearly a quarter of its value in a month, yet the quarterly dividend arrived unchanged and management confirmed guidance. Whether that income stream survives depends on one question Sacramento has not answered.
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The quarterly check from Edison International (NYSE:EIX | EIX Price Prediction) arrived on schedule this summer. What changed is the stock underneath it. Shares fell 23.41% over the past month, slipping from $70.17 on August 28 to $53.74 in midday trading on September 30. For holders collecting that income, the question is whether the drawdown signals damage or turbulence.
Shape of the Decline Tells the Real Story Extend the window and the picture shifts. Over the trailing year, the stock is up 2.67%. Year to date, it is down 6.96%. Shares traded at $79 when second-quarter results were filed on July 30, 2026, near the 52-week high of $81.62. The past month erased a summer rally. On the July call, management said it would assess the legislative outcome on wildfire reform after August 31, and the selling arrived in the weeks that followed. MarketWatch reported the stock outperformed competitors on September 29.
What the Payout Actually Rests On A falling price lifts the yield to 6.72% automatically, the kind of number that usually warrants a second look (we listed the seven warning signs that a big yield is about to be cut here: Dividend Traps). Actual dividend risk lives elsewhere. The $0.8775 quarterly payout, paid July 31, 2026, matched the prior quarter, and the next ex-dividend date is October 7, 2026. This year marked the 22nd consecutive year of dividend growth.
For a regulated utility, the dividend flows from returns regulators authorize on grid investment. Edison targets a payout of 45-55% of SCE core earnings. The current rate case authorization supports the plan through 2028, and regulators approved 91% of proposed capital. Second-quarter core EPS hit $1.54 against $1.21 consensus, and 2026 guidance of $5.90-$6.20 was confirmed. Management added:
“We still don’t see a need for equity through that 2030 time period.”
How Wildfire Liability Works in Plain Terms When utility equipment starts a fire, the utility can owe victims damages. SCE says its equipment was “likely” associated with the Eaton Fire. It has extended more than 2,200 offers totaling over $775 million, while more than 30,000 litigation claims are filed. The company still cannot estimate the low end of the liability. SCE is working with the Wildfire Fund administrator on pre-funding so it does not pay out of pocket, and SB 254 created a continuation fund of up to $18 billion. Pizarro was frank:
“Ideally, we would see a comprehensive solution. We may not.”
Where PG&E and Sempra Fit PG&E (NYSE:PCG) carries parallel wildfire liability exposure as the other major California investor-owned utility. Sempra (NYSE:SRE) offers a California peer with less wildfire tail risk. Edison sits closer to PG&E on risk, and its valuation shows it: a forward P/E of 8. Analysts lean conservative, with 10 holds and 3 sells against a $66.36 target.
Verdict for Holders: A Volatile Position Rate authorization through 2028, confirmed guidance and a no-equity plan through 2030 leave the income stream intact. The price is swinging on legislation, while the payout’s foundation holds. The answer changes if Sacramento’s outcome raises Edison’s cost of capital enough to reduce investment, which Pizarro flagged directly:
“If we saw that whatever the answer in ’26 is, it was not viewed favorably by the market, and that dramatically changed the inherent cost of our equity, then we would want to be thoughtful about making sure we’re not making negative NPV decisions on behalf of investors.”
Watch for any cut to the capital plan or an equity issuance announcement. Either would mark the shift from volatility to damage.
Contact [email protected] for any questions or corrections.
Lookonchain zaznamenal vklad 177 518 HYPE v hodnotě 16,08 milionu USD na OKX a Bybit a samostatný prodej 62 869 HYPE za 5,78 milionu USD. Hyperliquid Strategies mezitím 25. září nakoupila 494 200 HYPE za 45,8 milionu USD.
A roughly $16 million exchange deposit and a separate $5.78 million sale have been combined into headlines about a $22 million whale dump. The distinction matters because Hyperliquid Strategies has been accumulating HYPE too. Its SEC filing shows how a public treasury chooses when to buy and what its 33.2 million-token position really represents.
Summary
Lookonchain tracked 177,518 HYPE worth $16.08 million deposited to OKX and Bybit on September 28. A separate wallet it linked to Hypersphere Ventures sold 62,869 HYPE for about $5.78 million. A wallet linked to Hyperliquid Strategies bought 494,200 HYPE worth $45.8 million over 16 hours on September 25. The company’s September filing reported approximately 33.2 million HYPE held as of September 8. About 25.1 million of those tokens were delegated to its linked validator, with 8.1 million to Anchorage. One HYPE holder sent 177,518 tokens, worth approximately $16.08 million at the time, to OKX and Bybit on September 28. A different wallet linked by Lookonchain to Hypersphere Ventures sold 62,869 HYPE for about $5.78 million. The tracker’s original item identifies one exchange deposit and one sale. It does not establish that the full $21.86 million was sold.
The distinction is the story. An exchange deposit makes coins readily available to trade, and it can precede a sale. It can also reflect custody, market making, collateral or a later withdrawal. A realized sale has a different evidentiary status. Headlines treating the combined $22 million as executed selling have already promoted a possibility into a fact.
On the other side, a wallet that Lookonchain linked to Hyperliquid Strategies acquired 494,200 HYPE worth about $45.8 million over 16 hours on September 25. That purchase was three days before the September 28 whale activity. Comparing their dollar amounts as if the treasury took those exact coins off the seller on the same day would be false. Public transfers do not name the other side of every trade.
One deposit and one sale were reported The 177,518-token transfer went from a wallet identified as 0xc745 to two centralized exchanges. The 62,869-token sale was attributed by the tracker to a different wallet it associated with Hypersphere Ventures. The latter transaction was estimated to realize roughly $2.13 million in profit. Wallet attribution is a researcher’s classification, not a statement signed by the institution, so the association should be kept attached to its source.
The $16.08 million deposit and $5.78 million sale sum to $21.86 million at the prices used in the report. That is the basis for the rounded $22 million figure. Only $5.78 million is described in the underlying tracker account as an executed sale. The other $16.08 million is a transfer to venues where trading could happen later. Even that valuation can change before the tokens are sold.
Suppose all 177,518 deposited HYPE eventually sold. The combined disposed amount would be 240,387 HYPE including the separate 62,869 sale, subject to transaction details and potential double counting. Suppose none of the deposit sold. The confirmed amount remains 62,869 HYPE under the tracker report. A responsible article should not choose either endpoint without following the exchange balances and execution evidence.
Transfers into an exchange omnibus address make the next step harder to trace. Once coins are credited internally, exchange trades occur on the venue’s private ledger. An outside analyst may observe deposits, subsequent withdrawals or order-book activity, but cannot usually match a precise deposited token with a buyer’s identity. The absence of a visible onchain sale after deposit does not prove the holder kept the position. Nor does a deposit itself prove disposal.
This is why the phrase head for the exits is too strong as a factual headline for the 177,518 HYPE movement. A holder moved inventory into tradable venues; another sold a smaller, documented position. The two events together show potential supply pressure, not a single $22 million completed dump.
The treasury’s purchase is real, but from a different window The September 25 crypto.news report described 494,200 HYPE bought by a wallet linked to Hyperliquid Strategies for about $45.8 million. The tracker attributed the activity to wallet 0x6436. Buying across a 16-hour period is an observed action from a labeled address, not a corporate filing for that exact intraday amount.
At the stated prices, the treasury purchase was about 2.85 times the later $16.08 million exchange deposit and about 7.9 times the separate $5.78 million sale. Those ratios compare public dollar figures from different dates; they do not show one party absorbed the other’s inventory. The September 25 buy may already have been complete before September 28’s transfer. They belong in a chronology, not a netted same-day order book.
The company’s formal filings provide a broader check. In its September registration statement, Hyperliquid Strategies reported approximately 33.2 million HYPE held as of September 8. It said the balance included about 12.5 million tokens contributed at the transaction closing and tokens purchased with proceeds from a roughly $299.9 million PIPE and other capital raises. A 494,200-token reported acquisition later in September is about 1.49% of that September 8 inventory. That is meaningful incremental accumulation, but the dated 33.2 million figure cannot be treated as a current balance after it.
The company says it updates its HYPE balance weekly with a one-week delay. That disclosure lag matters when comparing a fast whale headline with treasury holdings. A balance published today might describe last week’s ownership. A look at an attributed wallet can fill part of the gap, but it may omit other wallets, internal transfers or custodial accounts. The filing and the wallet tracker are complementary evidence with different scopes.
The public company’s stock, PURR, provides exposure to HYPE through a corporate structure. Shareholders do not own a redeemable fraction of the onchain wallet. The issuer can buy more tokens, stake them, raise equity, repurchase its own shares and maintain cash reserves. The share count and obligations determine HYPE per share. A headline about a large treasury buy does not by itself prove accretion for an existing shareholder.
A filing spells out when the company intends to buy Hyperliquid Strategies’ registration statement describes a Treasury Committee composed of its CEO, CFO and COO, subject to board oversight. It says the company seeks to raise equity primarily when its shares trade at a premium to a market net asset value measure. It then considers buying HYPE when the market price is below an internal assessment of long-term fundamental value. It may repurchase its own stock at a meaningful discount to net asset value.
Those are the company’s stated policies, not a guarantee that each purchase meets an external definition of cheap. The internal fundamental-value estimate is not an observable market price, and the filing does not disclose a public threshold at which the September 25 buying was approved. A reader can test the subsequent outcome through HYPE per diluted share, cash, issuance prices and actual purchases, but cannot reverse-engineer the committee’s complete judgment from an address label.
The same filing describes a committed equity facility of up to $2.5 billion with Chardan. Capacity is not cash already raised, and an equity facility can issue new shares. If future share sales finance HYPE purchases at attractive premiums, HYPE per share can rise; if shares are sold too cheaply or expenses absorb proceeds, it can fall. The company’s objective is to maximize long-term HYPE exposure per common share. The measurable unit is therefore per share, not the gross treasury balance.
The capital framework separates a working capital reserve intended to cover at least 12 months of projected operating expenses, a cash reserve available for deployment and HYPE holdings. This explains why a company can announce a large cash raise without immediately buying an equivalent amount of tokens. Some cash is reserved for the business, and the committee can wait. It also means that its buying may continue through a market decline without any promise to support a particular HYPE price.
Another detail weakens the simple whale versus treasury picture. The company’s own filing says HYPE sales are conditioned on its assessment that the prevailing price exceeds its estimate of fundamental value. It is an accumulating treasury, but its policy does not forbid sales. A change in market price, cash requirements or its valuation assessment could put the company on the other side of the market. Present buying as an observed period, not a perpetual floor.
The 33.2 million tokens are largely staked As of September 8, the company said approximately 25.1 million HYPE, or 75.7% of its staked holdings, were delegated to its linked HSIxUNIT validator. Another approximately 8.1 million, or 24.3%, were delegated to Anchorage, described as its only third-party validator at that time. The two balances sum to 33.2 million, matching the rounded treasury figure. The percentages refer to its staked position, not the entire circulating HYPE supply.
The staking detail changes the liquidity interpretation. HYPE moved to a validator is not available for immediate spot sale until the owner initiates unstaking and completes the applicable process. The filing describes an initial one-day lock after delegation and a seven-day unstaking queue following withdrawal from staking. That does not make the treasury immovable; it sets a timing constraint. The company can keep cash and use other financing while coins are delegated.
Staking rewards also enlarge holdings without a new market purchase. The filing cited an average net annualized reward rate of 2.18% at 440.4 million HYPE staked across the network as of September 8. Applying 2.18% to 33.2 million tokens gives about 723,760 HYPE annually as a rough run rate, before the company’s specific fees and changes in balance or network rate. It is not a forecast of actual annual rewards. Rewards accrue and compound under the protocol mechanics, while the market price can change the dollar result substantially.
If a future report shows HYPE holdings rising by 700,000 tokens, it would be wrong to call all of that new spot buying without separating staking rewards, transfers and acquisitions. Conversely, a flat balance could conceal purchases offset by sales or other uses. The split between purchased tokens, contributed inventory and earned rewards is essential to testing whether the treasury is absorbing outside supply.
The initial 12.5 million HYPE contribution is another reason to keep categories straight. Those coins became company property through its corporate transaction, not through an open-market buy on the date the company reported 33.2 million. Roughly 20.7 million tokens above that initial contribution existed in the September 8 balance, but even that difference cannot be labeled net spot purchases without accounting for staking rewards and other transactions since closing.
Buybacks respond to trading revenue, not whale headlines Hyperliquid’s protocol routes most eligible trading fees through its Assistance Fund to purchase HYPE. Tokens acquired under the program are burned according to the protocol’s published structure. That creates an ongoing source of token demand tied to platform activity. It is separate from Hyperliquid Strategies, the public company, even though both can acquire the same asset.
The reported percentage of fees directed to the fund varies across descriptions because fee categories and program terms matter. One crypto.news unlock analysis used 99% of eligible trading fees; another account described 97% of protocol trading fees. The precise percentage should be quoted with its denominator and date. For the present comparison, what matters is the mechanism: trading generates fees, which fund market purchases, while actual buyback size changes with volume and pricing.
An example shows why a constant percentage is not a price guarantee. If eligible fees were $1 million in one day and 99% flowed into the fund, the buyback budget would be $990,000 before execution considerations. A $16.08 million exchange deposit would be more than 16 times that illustrative daily amount. If fees rose tenfold, the relative scale would change. Without matching a real daily fee tally and dated onchain fund transactions, one should not claim the mechanism absorbed September 28’s specific deposit.
The September burn report described about 9,730 HYPE repurchased and burned over a 24-hour period ending September 6, worth roughly $830,000 then. That historical daily print is useful as an order-of-magnitude check, not a claim about September 28. At 9,730 tokens a day, 177,518 HYPE is roughly 18.2 days of purchases. Actual daily activity varies, so that ratio is a dated illustration only.
The Assistance Fund cannot identify who bought a whale’s exchange sale any more than a treasury wallet can. Market makers and other investors stand between flows. Structural buying can help absorb supply across time, but it is not a standing promise to purchase at a particular price. A lower HYPE price changes the number of tokens a fixed fee budget can acquire; a collapse in platform activity lowers the fee budget itself.
Unlocks add potential supply, not automatic sales The September 6 vesting release made approximately 9.92 million HYPE claimable, valued around $820 million at the then-prevailing price of $82.60. Claimable supply is a stock of tokens owners may sell, stake or hold. It is not $820 million of executed sell orders. The prior coverage of that unlock emphasized that historical exchange movements after a previous unlock were a small share of tokens released.
The Multicoin transfer report showed another recent move to a trading venue. The September 28 wallet deposit has a more immediate market implication than a raw unlock count because identified coins reached trading venues. Still, a venue deposit remains one step away from a verified sale. A rigorous supply ladder runs from vested, to claimed, to transferred to an exchange, to sold. Each stage provides stronger evidence of disposal and a smaller, more specific quantity. Rolling all four into a single dollar value exaggerates precision.
The company purchase belongs to a separate demand ladder. Capital raised is potential buying power; cash allocated is a budget; an executed HYPE purchase is actual demand; tokens staked afterward are removed from immediate liquid inventory. Counting the $2.5 billion equity facility as if already spent is as misleading as counting all unlocked HYPE as already sold.
The two ladders are not symmetrical in public visibility. Onchain transfers and staking deposits can be observed quickly. A corporate decision to issue shares or hold cash appears through securities disclosures, sometimes later. Centralized exchange executions are often invisible at wallet level. Any net supply calculation that combines them will have blind spots. The strongest available conclusion is usually bounded: how many tokens were demonstrably sold, how many reached possible sale venues and how many the labeled treasury demonstrably bought during a specified period.
The strongest case for the buyers has limits Supporters of the HYPE thesis can point to real platform usage, fees that feed token purchases and a listed treasury that reported 33.2 million HYPE by September 8. The company’s September 25 wallet activity adds evidence of continuing accumulation. A token that receives recurring protocol purchases and corporate acquisitions can absorb some distributions without a sustained fall in price. The September unlock’s headline dollar figure alone did not establish that holders rushed to sell.
That case weakens if trading activity falls and the Assistance Fund’s purchases shrink. It weakens if corporate issuance becomes dilutive in HYPE-per-share terms or if the treasury pauses buying. It weakens if exchange deposits turn into verified sales at a pace exceeding new demand. The case is testable through actual fee-funded buys, token balances, public-company disclosures and exchange-flow follow-ups. It does not rest on an assumption that every whale transfer is harmless.
The bearish case also needs discipline. The separate 62,869 HYPE sale is evidence of one holder realizing a profit. The 177,518 HYPE deposit makes more inventory tradable. Neither proves broad capitulation or a final buyer’s identity. Calling $22 million a dump when about $16 million is a transfer makes the argument easier to say and harder to defend. A further sequence of deposits followed by verified sales would strengthen it substantially.
The two sides can both describe the same session accurately: a large holder sold, another holder sent inventory to exchanges, and independent buyers continued to exist. Price discovery balances them. A permanent directional conclusion requires the next rounds of flow and fee data, not an attempt to name one wallet as the other wallet’s counterparty.
A matched buyer requires more than matching dollar totals The claim that a treasury took the other side of a whale sale sounds plausible when the treasury’s reported purchase is larger. It requires more than size. At minimum, the buy and sell must overlap in time, occur through a venue or route that could connect the orders, and be supported by transaction records or a clearly described inference. The September 25 wallet accumulation precedes the September 28 deposit. Chronology alone defeats a claim that the former was an immediate response to the latter.
Even trades in the same hour do not automatically pair. A market maker may buy from a whale, hedge on a perpetual market and later sell to a treasury buyer. The economic exposure passes through several hands. An exchange order can be filled against many counterparties at different prices. Onchain wallet movements show entry and exit from a venue, while the actual order matches stay in its private system. A complete matching claim would require exchange records or corroboration from participants, neither of which is in the cited public data.
The better question is whether identifiable demand is large enough over a comparable period to absorb identifiable supply without a persistent price concession. That requires a ledger of actual executed sales, actual treasury purchases, actual Assistance Fund buys and other liquidity. The exchange deposit belongs in a separate potential-supply column. The $2.5 billion equity facility belongs in a possible-future-demand column. Mixing either with executed transactions would make the ledger balance only because its categories were wrong.
One can still learn from the imbalance in published amounts. The $45.8 million labeled treasury purchase shows the company has been willing to deploy substantial capital. The $5.78 million reported sale shows at least one whale has realized gains. The $16.08 million deposited shows more inventory could be offered. None of the three describes the anonymous investors who may have bought on OKX, Bybit or elsewhere. The headline’s question about absorption is not answered by treating the most visible buyer as the only buyer.
Future observations can narrow it. If the deposited wallet’s exchange balance is later withdrawn and HYPE appears in another self-custody address, an immediate complete sale becomes less certain, though exchange internal netting still limits proof. If venue volume and price show heavy selling while the wallet’s funds are credited, the sale case gains circumstantial support. If a company filing confirms purchases in the same period, it demonstrates a buyer class, not necessarily a matched counterparty. The distinction survives every update.
That approach has an editorial advantage. It can state what is known firmly, leave only the unknown part open and identify exactly which record would change the conclusion. The alternatives are a $22 million dump headline that overstates the evidence and a treasury-rescue headline that invents a buyer-seller link. Neither is needed to explain the pressure on HYPE’s market.
The public company is an amplifier, not a price floor Hyperliquid Strategies’ ability to accumulate depends partly on the market for its own shares. If PURR trades at a premium to the value of its underlying assets, the company may raise capital in a way that adds HYPE per old share. If the premium contracts, raising the same cash may be less attractive or more dilutive. Its policy explicitly contemplates buying back company stock when shares trade at a meaningful discount to its adjusted asset value. That choice could benefit shareholders without producing any new HYPE spot purchase.
This distinction matters after a visible treasury buy. A crypto holder may care whether the company removes coins from the market. A PURR shareholder cares whether each share’s economic claim improves after financing and expenses. The company’s earlier results coverage recorded a 29.3 million HYPE balance and stock repurchases at a previous cutoff. The move to 33.2 million by September 8 is a larger token total, but a complete per-share comparison needs the intervening share count and other claims.
The SEC filing also states that substantially all of the company’s HYPE is held with one custodian. That is a corporate concentration risk distinct from whales on an exchange. A custodian disruption could affect access to coins even if the protocol continues to function. The company discloses its dependence on HYPE’s price and liquidity because its treasury is concentrated in cash and this one token.
A 16-hour wallet acquisition is therefore an input into a broader balance sheet story. It can show willingness to buy at prevailing prices. It cannot establish how much future capacity remains, whether future issuance will be accretive, or whether the company will buy the next large exchange deposit. Its filed mandate gives management discretion on all three questions.
The two wallets cannot be joined by an arrow The public record supports a bounded conclusion. Lookonchain reported a 62,869 HYPE sale and a separate 177,518 HYPE exchange deposit. It had previously identified a 494,200 HYPE purchase by a treasury-linked address. The times differ, the venues obscure counterparties and the company filing reports balances with a lag. No cited source establishes that Hyperliquid Strategies bought the specific coins the September 28 wallets moved.
The company may continue to buy, the Assistance Fund may continue to convert eligible fees into token purchases, and other investors may absorb supply. None of those facts can be turned into a guaranteed floor. Likewise, the deposit could lead to a sale without making it a sale at the time it was observed. The next dated wallet update and the issuer’s subsequent balance disclosure will narrow the gap.
The actionable reporting standard is simple. Label the 62,869 HYPE as a reported sale, the 177,518 HYPE as an exchange deposit and the 494,200 HYPE as an earlier reported purchase by a linked wallet. Treat any claim about the final buyer of the whale’s coins as unproven until transaction or venue evidence supports it.
What to watch Exchange follow-through: Whether the 177,518 HYPE deposited on September 28 is followed by identifiable withdrawals or corroborated selling. Treasury updates: Whether the reported 33.2 million HYPE as of September 8 rises through purchases, staking rewards or both. Assistance Fund purchases: Compare actual daily token buys with trading fees, not with a fixed percentage in isolation. HYPE per share: Track PURR equity issuance and repurchases alongside changes in gross token holdings. Fresh whale sales: Separate confirmed executions from deposits and newly unlocked but untransferred tokens. FAQ Did HYPE whales sell $22 million on September 28? The tracker described about $5.78 million in a separate 62,869 HYPE sale and $16.08 million in a 177,518 HYPE exchange deposit. The combined roughly $22 million is not a confirmed executed-sale total.
Where were the 177,518 HYPE sent? Lookonchain reported deposits to OKX and Bybit from wallet 0xc745. Subsequent internal exchange trading cannot usually be attributed to that deposit from public chain data alone.
How much HYPE did the treasury-linked wallet buy? Lookonchain attributed a 494,200 HYPE purchase, worth about $45.8 million, to a wallet linked to Hyperliquid Strategies over 16 hours on September 25. That preceded the September 28 deposit.
How many HYPE did Hyperliquid Strategies hold? Its September registration statement reported approximately 33.2 million HYPE as of September 8. That dated figure should not be presented as the exact post-September 25 balance.
Were all 33.2 million HYPE bought on exchanges? No. Approximately 12.5 million were contributed in the company’s transaction, while other tokens were acquired with capital proceeds or accrued through activities such as staking.
What does the Assistance Fund do? It uses most eligible protocol fee revenue to buy HYPE, with purchased tokens burned under the described mechanism. The daily amount varies with trading activity and execution.
Are the treasury’s tokens liquid immediately? The company said substantially all HYPE was staked as of September 8. Its filing described a one-day initial delegation lock and a seven-day unstaking queue after an exit request.
What would prove broad whale selling? Further dated exchange deposits corroborated by executions, shrinking wallet balances and sustained selling pressure would strengthen that conclusion. This is educational analysis, not investment advice.
Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of September 30, 2026.
ChargePoint surged while its closest rivals slipped, raising a pointed question about whether one company is pulling ahead in the EV charging race or simply running a sprint the rest of the sector will eventually join.
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ChargePoint Holdings (NYSE:CHPT) stock jumped 7% to $10.16 on Wednesday, extending its strong September run. EVgo (NASDAQ:EVGO) shares fell 3% to $1.29, while Blink Charging (NASDAQ:BLNK) stock slipped 0.45% to $0.56. Electric-vehicle charging names showed divergent trading as ChargePoint continued to draw momentum-driven interest.
The Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) edged up 0.1% to $33.15. Broader markets advanced, with the SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) rising 0.38% to $767.11. ChargePoint’s latest catalyst remains its strong second-quarter results, which delivered $116 million in revenue, improved margins, and a much smaller loss than expected. The recent move also reflects company-specific buying, even as notes continue to flag cash burn, balance-sheet pressure, and a rally that has outpaced the broader charging group.
ChargePoint Extends Monthly Momentum ChargePoint shares have built on a multi-week advance that has separated the stock from listed peers. Second-quarter revenue of $116 million rose 18% year over year and exceeded the company’s guidance range of $100 million to $110 million. Networked charging systems revenue grew 25%, while subscription revenue increased 10%.
Non-GAAP gross margin reached 38%, aided in part by tariff refunds, and the adjusted EBITDA loss narrowed significantly to roughly $5 million from more than $20 million a year earlier. UBS raised its price target to $9 from $8 while maintaining a neutral rating, citing better-than-expected results and higher longer-term revenue forecasts. Guidance for the current quarter calls for revenue of $105 million to $115 million.
EVgo Declines and Blink Charging Softens EVgo stock moved lower on the day. The company operates a network of fast-charging stations focused primarily on public DC charging for electric vehicles. EVgo shares have lagged ChargePoint’s recent advance, underscoring the stock-specific nature of the rally.
Blink Charging stock posted a smaller decline. Blink Charging provides charging equipment and networked services across residential, commercial, and fleet applications. Both EVgo and Blink Charging operate in the same broad EV infrastructure market as ChargePoint but have not matched the same degree of recent momentum.
Charging Group Shows Limited Spillover The Global X Autonomous & Electric Vehicles ETF’s modest gain indicated limited broader participation beyond ChargePoint. The company’s brand-neutral network and scale remain central to the bull case, yet investors continue to weigh ongoing cash requirements and the path to sustained profitability. Recent commentary has described the rally as driven more by positioning and execution improvement than by a sector-wide re-rating.
Similarities among ChargePoint, EVgo, and Blink Charging include exposure to the buildout of EV charging infrastructure and sensitivity to adoption rates and policy support. Differences appear in network focus, hardware versus services mix, and relative balance-sheet strength. ChargePoint’s sequential margin progress and reduced cash burn have stood out in the latest quarter.
CHPT Stock: What to Look For Next ChargePoint’s second-quarter results and subsequent price-target adjustment have supported the shares through September. Balance-sheet constraints and uncertainty around the pace of charging demand remain points of caution for analysts. EVgo and Blink Charging face their own utilization and capital challenges within a still-competitive market.
Investors in ChargePoint stock should consider keeping position sizes modest given the high volatility typical of EV charging stocks. Continued revenue growth, further margin expansion, and progress toward lower cash burn could sustain ChargePoint’s momentum, while any shortfall relative to guidance or renewed balance-sheet concerns may pressure the group.
Contact [email protected] for any questions or corrections.
Hyperliquid má 6. října uvolnit HYPE v hodnotě až 856 milionů USD, což je největší plánované uvolnění tokenů v říjnu. Tato částka tvoří největší podíl z asi 1,3 miliardy USD tokenů čekajících na uvolnění na širším trhu.
Hyperliquid is consistently building momentum and has continued to draw attention with its large token unlocks almost every month.
With September already wrapping up, the latest onchain data from Tokenomics shows that Hyperliquid has scheduled a major HYPE token unlock for October.
Hyperliquid sets date for next token unlock While HYPE has remained one of the most closely watched crypto assets among investors, considering its big price moves, its massive token unlock has often drawn interest from market participants.
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According to the data, Hyperliquid is about to conduct the largest single token unlock currently scheduled for October among other crypto assets preparing for the same event during the month.
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Notably, Hyperliquid has sparked a buzz in the crypto market as up to $856 million worth of HYPE tokens have been scheduled to be released on October 6.
With just about $1.3 billion in token releases expected for the broad crypto market next month, HYPE's potential unlock accounts for the largest portion of the total token releases expected throughout the month.
Hyperliquid price outlook for October While it remains uncertain whether the potential large token unlock will pose a threat to HYPE's price performance in October or support higher upswings, traders are hopeful that the yearly Uptober trend will drive a further rally for HYPE regardless.
With Hyperliquid already extending its positive monthly return into September with a modest gain of 1.85% for the month, market participants are hopeful that it will be able to sustain momentum into next month and extend the profit streak for the third consecutive month.
Hyperliquid Labs 7. října prodá v soukromé transakci 3,75 milionu tokenů HYPE. Firma říká, že půjde o OTC transakci s institucí, ne o prodej na veřejném trhu.
Hyperliquid Labs has announced a significant token transaction involving the unstaking and private sale of 3.75 million HYPE tokens. This amount is notably 8.65 times larger than the September 6 unlock. According to Hyperliquid’s co-founder Iliensinc, the tokens are intended for a private over-the-counter deal with an institution, rather than being introduced to public markets. This move is reported to remove expected selling pressure from exchanges, though details on the buyer’s holding and hedging terms remain undisclosed. The transaction is set to take place on October 7, with market participants closely watching for further developments.
Key Takeaways Hyperliquid’s decision to sell 3.75 million HYPE tokens privately appears to suggest a reduction in public market supply. Pricing suggests that this could be supportive of a potential price increase, with reduced selling pressure on exchanges. The specifics of the transaction, including the buyer’s intentions, remain unclear, leaving room for market speculation. What to Watch Market participants will be observing any official confirmation of the private sale and the terms agreed upon by the buyer. The impact of this private distribution on Hyperliquid’s market price will likely depend on further announcements from Hyperliquid Labs or any leaks regarding the institutional buyer’s strategy. Additionally, any macroeconomic factors or broader market trends that could influence HYPE’s price trajectory will be key indicators to monitor.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 64% — — View market → January 1 2027 2.4% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.8% — — View market → January 1 2027 1.9% — — View market → January 1 2027 7% — — View market → January 1 2027 3.5% — — View market → January 1 2027 7% — — View market → January 1 2027 12% — — View market → January 1 2027 12% — — View market →
EUR/USD klesá už třetí seanci v řadě, celkem asi o 0,6 %. Slabší údaje o Core PCE euro nepodpořily, protože dolar dál těží z vyšších výnosů amerických dluhopisů.
The euro continues to face a challenging environment in the short term. The currency has struggled to regain ground against a U.S. dollar that remains firmly supported, a dynamic reflected in EUR/USD, which has now recorded three consecutive losing sessions and a decline of roughly 0.6%. More importantly, selling pressure has persisted even after the latest U.S. inflation data was released, suggesting that the market continues to favor the dollar over the euro. As long as this backdrop remains in place, bearish pressure could continue to play an important role in EUR/USD price action over the coming sessions.
PCE Takes Center Stage
One of the most important events of the trading session was the release of the U.S. Core Personal Consumption Expenditures (Core PCE) report, one of the Federal Reserve's preferred inflation gauges and a key indicator of consumer price trends.
The monthly reading came in at 0.2%, below market expectations of 0.3%. At first glance, this provided some relief by suggesting a modest easing in short-term inflation pressures. However, the annual measure remains close to 3.0%, a level that has shown little change since June. While inflation is no longer accelerating significantly, it also remains well above the Federal Reserve's long-term target.
As a result, markets have slightly reduced expectations of a more aggressive Fed. According to CME Group probabilities, there is now roughly a 60% chance that interest rates will remain unchanged at 4.00% during the October 28 meeting.
Source: TradingEconomics
Even so, the positive impact on the euro has been limited because the U.S. bond market continues to show remarkable strength. Despite the moderation in rate expectations, 10-year Treasury yields continue to move higher and are now approaching the 5.3% area, levels not seen in decades. Meanwhile, European bond yields have also recovered recently, but they remain significantly lower, trading closer to 4.0%.
This yield differential continues to support the relative attractiveness of U.S. assets and helps explain why demand for the dollar remains strong despite the softer inflation release.
Source: TradingEconomics
Against this backdrop, the euro continues to face a difficult environment. Although the inflation data partially reduced expectations of a more aggressive Federal Reserve, the bond yield differential continues to favor the United States. As long as this situation remains unchanged, the euro may continue to struggle to attract consistent demand, leaving the current selling pressure around EUR/USD in place over the coming sessions.
Is the ECB Still Relevant?
It is also important to monitor developments surrounding the European Central Bank (ECB). Current market probabilities continue to reflect a relatively neutral stance from policymakers. Expectations for the October 28 meeting indicate roughly a 70% probability that the ECB's deposit rate will remain unchanged at 2.5%.
These expectations are largely driven by the fact that inflation pressures across Europe have not been strong enough to justify another aggressive tightening cycle. In addition, ECB officials have maintained a relatively cautious tone in recent weeks, reinforcing expectations of policy stability.
Source: ECBWATCH
This remains important because part of the dollar's recent strength continues to be supported by the interest-rate differential between the United States and Europe. Unless markets begin to see signs of a more hawkish ECB willing to narrow that gap, dollar-denominated assets may continue to retain a meaningful relative advantage. Under this scenario, the euro could remain under pressure, leaving EUR/USD vulnerable to further downside in the near term.
EUR/USD Technical Forecast
Source: StoneX, Tradingview
The broad trading range is entering a risk zone: For much of 2026, EUR/USD has traded within a wide consolidation range that has dominated price action and prevented the development of a sustained directional trend. However, recent weakness has placed the lower boundary of that structure under increasing pressure. If selling pressure continues to build, a bearish breakout could emerge and open the door to a more established downward trend.
MACD: The MACD histogram continues to trade below the 0 neutral line, indicating that short-term moving-average strength remains biased to the downside. As long as this behavior persists, selling pressure may continue to dominate.
RSI: A similar picture can be observed in the RSI, which remains below the 50 neutral level. This reading reinforces the relevance of bearish momentum within the market. However, the indicator is now also trading below the 30 oversold threshold, suggesting that recent selling pressure may have become excessive and could create room for short-term bullish corrections.
Key Levels:
1.15352 – Key Resistance: This level coincides with the 50-period simple moving average and represents the most important barrier for recovery attempts. Price action returning toward this area could reinforce the importance of the broad trading range that has dominated much of the year and restore a more neutral tone to the chart.
1.14130 – Near-Term Barrier: A key retracement area observed over recent weeks that could become the primary reference to monitor in the event of short-term bullish corrections.
1.12602 – Critical Support: A level not seen since May 2025 that represents the most important downside barrier below the current trading range. Sustained moves toward this area could confirm the end of the broader consolidation structure and open the door to a more established bearish trend.
Written by Julian Pineda, CFA, CMT – Market Analyst
Ulta Beauty za tři měsíce vzrostla o 20,7 % díky vyšším tržbám i zisku ve 2. čtvrtletí fiskálního roku 2026 a zvýšení celoročního výhledu. Tržby stouply o 8,9 % na 3,04 miliardy USD, zisk na akcii (EPS) o 13,3 % na 6,55 USD.
Key Takeaways Ulta Beauty gained 20.7% in three months as Q2 sales and earnings rose and full-year guidance increased. ULTA's Q2 comparable sales rose 3.8%, driven by a 3.9% higher average ticket as transactions stayed flat. Ulta Beauty trades at 17.6X forward earnings, above its sub-industry's 14.3X, as traffic remains a risk. Ulta Beauty, Inc. (ULTA - Free Report) shares have gained 20.7% in the past three months as the beauty retailer’s operating picture has improved. Second-quarter fiscal 2026 sales and earnings rose, and management raised its full-year outlook after the stronger first half.
The advance now puts more weight on execution. Better results, digital growth and new business initiatives support the setup, but traffic, promotions, margins and valuation leave less room for a stumble.
Ulta Beauty’s 20.7% Gain Reflects a Stronger SetupULTA’s three-month gain has coincided with better operating momentum. Second-quarter net sales increased 8.9% to $3.04 billion, while earnings rose 13.3% to $6.55 per share.
Management also raised fiscal 2026 guidance. It now expects net sales growth of 6.7%-7.2%, comparable sales growth of 3.2%-3.7% and earnings of $28.70-$29.00 per share.
Image Source: Zacks Investment Research
ULTA’s Q2 Beat Adds Fundamental SupportSecond-quarter earnings of $6.55 per share topped the Zacks Consensus Estimate of $6.21. Sales of $3.04 billion also came in above the $2.97 billion consensus mark.
Comparable sales rose 3.8%. Average ticket increased 3.9%, while transactions were roughly flat, showing that spending per visit rather than traffic did most of the work.
Ulta Beauty’s Growth Engines Back the MomentumE-commerce sales grew at a high-teens rate, extending the company’s run of double-digit digital growth. Ulta Beauty also has about 47 million active loyalty members, while Marketplace now includes more than 450 brands and UB Media delivered double-digit growth.
The store base remains another growth lever. Management sees room for more than 1,800 freestanding U.S. locations versus 1,534 at the end of the second quarter. e.l.f. Beauty (ELF - Free Report) , which reported 36% sales growth in its latest quarter, also shows that beauty demand remains active across retailer and e-commerce channels.
ULTA’s Valuation Raises the Bar for More UpsideULTA trades at 17.6X forward 12-month earnings. That is above the 14.3X Zacks sub-industry multiple but below the stock’s five-year median of 18.5X.
Image Source: Zacks Investment Research
The valuation is not extreme relative to Ulta Beauty’s own history, but the recent rally leaves less tolerance for weaker execution. Stronger earnings and sales trends can help support the multiple, while a slowdown could make the premium to the sub-industry harder to defend.
Ulta Beauty Still Faces Traffic and Margin RisksTraffic remains the clearest near-term constraint. Transactions were roughly flat in the second quarter, promotional activity increased and category trends were uneven, with fragrance strong while makeup was approximately flat.
Management expects gross margin to remain roughly flat for fiscal 2026 and operating margin to improve by no more than 20 basis points. Sally Beauty Holdings, Inc. (SBH - Free Report) sells and distributes professional beauty supplies through Sally Beauty and Beauty Systems Group, keeping competition broad across hair color and hair care.
ULTA’s Mixed Signals Temper the Rally CaseUlta Beauty’s improved results and higher guidance support the recent advance, but continued gains likely require better traffic and steady execution as comparisons become tougher. Ticket growth alone may not be enough if promotions rise or category strength narrows.
The stock currently carries a Zacks Rank #3 (Hold), with a Growth Score of B, Value Score of C, Momentum Score of D and VGM Score of C. The Growth Score fits a firmer earnings backdrop, including a 0.1% increase in the current-year EPS estimate over the past four weeks. The weaker Momentum Score and middling Value and VGM Scores leave a more balanced signal after the three-month run. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ulta Beauty zvýšila výhled na fiskální rok 2026: EPS má být 28,70–29,00 USD a provozní zisk má růst o 8,3 % až 9,3 %. Srovnatelné tržby ve 2. čtvrtletí vzrostly o 3,8 %.
Key Takeaways Ulta Beauty projects fiscal 2026 EPS of $28.70-$29.00, with operating income growth of 8.3%-9.3%. ULTA trades at 17.6X forward earnings, above its sub-industry but below its five-year median of 18.5%. Ulta Beauty's Q2 comparable sales rose 3.8%, led by a 3.9% higher ticket as transactions stayed flat. Ulta Beauty, Inc. (ULTA - Free Report) is entering the second half of fiscal 2026 with a stronger earnings outlook, high returns on invested capital and several expanding growth platforms. The question for investors is whether that growth quality is enough to justify the stock’s current valuation while traffic remains subdued and competition becomes more promotional.
The shares are not obviously cheap, but they are not trading at a demanding premium to their own history either. That makes execution the key variable: Ulta Beauty needs to convert sales growth into durable earnings gains while sustaining traffic, margins and cash generation.
Ulta Beauty’s Growth Profile Supports the Bull CaseManagement raised fiscal 2026 expectations after the first half. Ulta Beauty now projects net sales growth of 6.7%-7.2%, comparable-sales growth of 3.2%-3.7% and operating income growth of 8.3%-9.3%. Earnings are expected to reach $28.70-$29.00 per share.
The Zacks data also point to a firmer growth profile. Projected EPS growth for the current fiscal year is 12.9%, while projected sales growth is 7.1%. Those figures support the idea that earnings can outpace revenues as the company benefits from scale, productivity and share repurchases.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
Growth is not tied to a single channel. Ulta Beauty continues to expand e-commerce, loyalty, Marketplace, UB Media, domestic stores and international operations. That breadth gives the company more ways to sustain revenue growth even if one category or channel slows.
ULTA’s Valuation Is Reasonable but Not CheapULTA trades at 17.6X forward 12-month earnings. That sits above the 14.3X Zacks sub-industry multiple, but below the 20.9X Zacks Retail-Wholesale sector multiple and Ulta Beauty’s five-year median of 18.5X.
Image Source: Zacks Investment Research
Beauty-sector comparisons reinforce that middle-ground view. e.l.f. Beauty, Inc. (ELF - Free Report) trades at 27.2X forward 12-month earnings and carries projected sales growth of 20.2%, reflecting a richer multiple alongside a faster growth profile. Sally Beauty Holdings, Inc. (SBH - Free Report) , by contrast, trades at roughly 7.3X forward 12-month earnings as its top-line growth remains much more modest. The business mixes differ, but the spread helps frame Ulta Beauty’s valuation as neither a deep-value case nor a high-growth premium multiple.
The positioning creates a valuation debate rather than a clear bargain case. The stock commands a premium to its sub-industry, which requires continued operating execution, yet the multiple remains below Ulta Beauty’s own longer-term median and the broader sector.
That middle ground means the valuation can be supported if earnings growth remains near current expectations. A traffic slowdown, heavier discounting or weaker category trends could make the premium to the sub-industry harder to justify.
Ulta Beauty’s Cash Returns Add Financial FlexibilityUlta Beauty continues to generate attractive returns on capital. Trailing 12-month return on invested capital stands at 24.7%, close to the company’s 10-year median of 25% and well above the 12.9% industry median cited in the Zacks report.
Recent cash realization is also strong. TTM cash-flow conversion is 129.7%, versus the company median of 59.8%, while free-cash-flow conversion is 95.1%, compared with a 36.9% median. In the first half of fiscal 2026, operating cash flow reached $381.6 million and capital expenditures were $139.5 million.
These measures give Ulta Beauty flexibility to fund new stores, digital capabilities and other strategic investments while returning capital to shareholders. Still, the current conversion rates are well above historical norms, so working-capital needs, higher spending or margin pressure could pull them lower.
ULTA Still Faces Promotion and Consumer RisksThe operating backdrop is not uniformly favorable. Management said the overall promotional environment increased in the second quarter and that Ulta Beauty was somewhat more promotional year over year. Consumers are also becoming more selective as value plays a larger role in purchase decisions.
Second-quarter comparable sales rose 3.8%, but the gain was driven mainly by a 3.9% increase in average ticket while transactions were roughly flat. That leaves traffic as an important watch point as the company enters tougher comparisons in the second half.
Category performance was mixed. Fragrance delivered high-teens comparable growth and haircare posted high-single-digit growth, while makeup was approximately flat. Skincare and wellness declined modestly as weakness in body care offset growth elsewhere in the category. Continued dependence on a few stronger categories could make broad-based growth harder to sustain if those areas cool.
Ulta Beauty’s Margin Outlook Limits the Re-Rating CaseUlta Beauty expects fiscal 2026 gross margin to remain roughly flat. Management sees an opportunity for operating margin to improve by up to 20 basis points, but that still points to modest margin expansion rather than a sharp step-up in profitability.
Mix pressure from Space NK, competitive promotions, fuel costs and ongoing investments remain constraints. Productivity and SG&A leverage can help offset those pressures, but the current outlook suggests that most earnings growth will need to come from sales gains, expense discipline and capital allocation rather than a major margin reset.
That matters for valuation. A sustained re-rating would be easier to support if revenue growth were accompanied by a clearer margin expansion story. For now, the margin outlook argues for a more measured interpretation of the earnings acceleration.
Ulta Beauty’s Signals Favor Patience Over CertaintyUlta Beauty currently carries a Zacks Rank #3 (Hold). It also has a Growth Score of B, Value Score of C, Momentum Score of D and VGM Score of C. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Growth Score aligns with the raised fiscal 2026 outlook and double-digit projected EPS growth. The Value Score suggests the stock is not a standout bargain, while the Momentum Score points to a weaker short-term setup despite the company’s improving fundamentals. The VGM Score of C keeps the combined signal balanced.
Ulta Beauty’s growth quality, returns on capital and cash generation provide a credible foundation for the stock, but subdued traffic, promotional pressure and limited margin expansion prevent the case from becoming straightforward. With valuation sitting between its sub-industry and Ulta Beauty’s own historical median, the current setup favors patience and close monitoring of traffic, margins and earnings execution rather than assuming the recent improvement will automatically translate into a higher multiple.
Kinder Morgan vidí roční kapacitu růstu projektů na 6 až 7 miliard USD a čeká další schvalování projektů. Tahounem je rostoucí poptávka po plynu na jihovýchodě USA.
Plugging In: How Kinder Morgan Powers Up ProfitsKinder Morgan NYSE: KMI sees an opportunity-rich environment for midstream infrastructure as natural-gas demand from LNG exports, power generation and industrial growth supports a growing pipeline project pipeline, Chief Financial Officer David Michels said during a fireside chat.
Michels said the company’s sanctioned backlog consists of board-approved projects supported by binding commitments from off-takers, generally covering more than 90% of planned capacity. Most of those projects are already under construction, he said, giving the company confidence that they will enter service and contribute EBITDA.
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3 Dividend Stocks with Growth on Tap for the Second HalfProjects outside that formal backlog, which Kinder Morgan has previously characterized as a “shadow backlog,” are less certain because they have not been sanctioned. Still, Michels said customer discussions and negotiations have progressed sufficiently for the company to expect further project approvals.
“We feel pretty confident” that new projects will at least replenish projects entering service in coming quarters, Michels said. The company had indicated in its second-quarter discussion that it expected to sanction more than $1 billion of projects from July through year-end, and Michels said it was confident that target would be met, potentially with additional projects.
Southeast Power Demand Drives SNG Expansion Discussions Pipelines and Automation: 2 Energy Plays Built for Any Oil PriceA major focus is the Southeastern U.S., where utilities are planning for substantial new electricity demand. Michels said large-load connection requests across Southern Company, Dominion, Duke, Florida Power & Light and TVA exceed 200 gigawatts. Projects in more advanced stages or with executed contractual positions account for more than 50 gigawatts, he said.
While not all of that potential generation would be fueled by natural gas, Michels said 50 gigawatts would equate to more than 8 billion cubic feet per day of gas demand if it were entirely gas-fired.
Kinder Morgan and Southern Company recently launched an open season for the Southeast Connector project on the Southern Natural Gas, or SNG, system. The open season was scheduled to close Oct. 7. Michels said the process was “going well” and that Kinder Morgan expected to provide more detail during its next earnings call.
The company is also advancing its South System 4 expansion on SNG, which Michels said remains on budget and on schedule. The project has received its permit, and the company is securing rights of way, though construction has not yet started. Michels said the volume of anticipated utility demand has already prompted consideration of the next stage of expansion.
“We’re going to need connections north of it and potentially south of it,” he said of the broader infrastructure requirements. Kinder Morgan would seek multiple counterparties for the Southeast Connector, with utilities representing its preferred customer base.
Michels added that SNG likely has additional long-term expansion potential. He noted that the system has progressed through multiple expansions and that further growth could be needed in the corridor.
Tennessee Pipeline Open Season Draws Strong Interest Kinder Morgan also reported favorable results from the non-binding open season for its Tennessee Gas Pipeline 219 South project. The project was marketed for just over 500 million cubic feet per day of capacity to move gas from Pennsylvania toward Tennessee.
Michels said the results were “very strong and positive,” although the company still needs to secure firm shipper commitments. The project could support power-generation demand along the route, he said.
The company has discussed a potentially larger Tennessee Gas Pipeline expansion that could move Appalachian gas into the Southeast. Michels declined to identify a specific upper limit for the project, citing customer rate considerations, but said it could potentially be multiple times the 500 million cubic feet-per-day capacity discussed in the open season.
For now, Kinder Morgan is prioritizing the Southeast Connector over a potential Mississippi Crossing expansion, though Michels said the company continues to hold early-stage discussions with possible counterparties for that project.
Funding Capacity and Other Growth Markets Michels said Kinder Morgan can fund roughly $3 billion to $3.5 billion annually in growth capital from cash flow from operations. The company’s debt-to-EBITDA ratio was 3.6 times, compared with a long-term target range of 3.5 to 4.5 times. Using capacity up to the midpoint of that range could provide another $3 billion to $3.5 billion of funding capacity, he said.
That gives the company potential annual growth-project capacity of $6 billion to $7 billion, according to Michels. He said Kinder Morgan does not expect to need external capital for its planned growth investments unless a significant acquisition coincides with periods of heavy project funding.
In Texas, Kinder Morgan is seeing demand tied to power generation, LNG and supply needs for multiple markets. Michels highlighted the potential Permian Link project on the Natural Gas Pipeline Company of America system, which could serve the Texas Panhandle, parts of New Mexico and potentially Oklahoma. He said customer negotiations are progressing well, though the project is not in the formal backlog.
Michels said the project is positioned as a demand-driven development rather than a supply-push pipeline and benefits from NGPL’s storage assets.
Outperformance Includes One-Time Factors Kinder Morgan’s operating performance this year has benefited from approximately $225 million of non-recurring items, Michels said. Those included Winter Storm Fern and extended cold weather in the Northeast, FERC-related retroactive billing relief, a terminal contract buyout and the widening of the Waha basis spread.
Higher commodity prices also contributed. Michels said the company budgeted for oil at $60 per barrel, while year-to-date prices had averaged above $80 per barrel, creating an estimated $100 million benefit. He cited commodity-price effects related to the Iran war.
While the company does not expect to budget for all of those gains next year, Michels said underlying market conditions should continue to support margins in Kinder Morgan’s Texas intrastate business, higher-rate recontracting on interstate pipelines, greater volumes and additional customer services. He also cited strong CO2 volumes, although he said the durability of that performance into next year was less certain.
About Kinder Morgan (NYSE:KMI)Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that owns and operates pipelines, terminals, and storage facilities. Its assets primarily transport and store natural gas, crude oil, refined petroleum products, and carbon dioxide, supporting energy producers, utilities, refiners, industrial companies, and other customers.
The company's natural gas business includes interstate and intrastate pipelines, gathering and processing systems, and underground storage facilities.
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