Track market-moving stories before they get noisy

In brief
Dogecoin Labs launched together with the Dogecoin Foundation, consolidating the meme coin’s scattered products, IP, and development teams.
Led by CEO Jordan Jefferson, it aims to close the gap between Dogecoin’s massive community and its thin lineup of real apps.
It builds on recent groundwork: DogeOS’s Sept. 30 testnet and MyDoge’s 500,000-plus users.
Dogecoin is getting a dedicated company to build out its ecosystem, as the teams behind the meme coin’s biggest consumer products fold into a single organization aimed at giving DOGE more everyday uses.

Announced Tuesday, Dogecoin Labs was formed together with the Dogecoin Foundation to consolidate the products, intellectual property, and development teams scattered across the Dogecoin world into one independent outfit.

Myriad: Where does Solana go next? Click to make your prediction.It will own and operate three flagship products: the MyDoge wallet, the DogeOS app platform, and Such App, a merchant-payments tool, with assets and talent contributed by both the Foundation and House of Doge.

The pitch is to close a gap the company sees as Dogecoin’s defining weakness. Despite ranking among the largest and most recognizable cryptocurrencies, with deep liquidity, millions of holders and one of crypto’s most active communities, the number of actual products and businesses built on DOGE remains small relative to that audience. Dogecoin Labs, led by CEO Jordan Jefferson, the founder of MyDoge and DogeOS, intends to change that by building wallets, payments, commerce, trading, DeFi, gaming, AI and social apps.

“No other digital asset has Dogecoin’s combination of liquidity, community and cultural reach, and its potential has barely been tapped,” Jefferson said, adding that the community has chanted “DOGE to $1” for years and that the goal now is “to build the economy that ambition calls for.”

The move builds on recent groundwork. DogeOS opened its public testnet on Sept. 30, giving developers an Ethereum-compatible environment to build Dogecoin apps, while MyDoge, which grew past 500,000 users without paid acquisition, rolled out a V3 update connecting the wallet to those applications. Together with Such App’s merchant rails, the three products are meant to link developers, consumers and businesses into a functioning DOGE economy.

The Foundation will continue its stewardship, open-source support and advocacy while Labs handles commercial product development.

The reorganization arrives during a soft stretch for the token. DOGE traded around $0.084 on Tuesday, up 3.9% on the day for a roughly $13 billion market cap, but down about 14% over the past month and off roughly 88% from its May 2021 record.

Dogecoin’s institutional story has been mixed, too: a Dogecoin Foundation-backed 21Shares DOGE ETF launched on Nasdaq this year, though Bitwise later shut its own Dogecoin fund citing low demand and a need to “optimize its product range to meet evolving investor needs.”

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One hundred thousand farm lands in India now have a digital identity on the Cardano blockchain. The Cardano Foundation flagged the milestone, which was reached as of October 21, 2026.

The goal is to make farm data easier to verify and easier to reuse. For smallholder farmers who have long been locked out of formal credit and insurance, that could matter far more than any token chart.

What actually got registered
The project assigns each farm parcel a tamper-resistant identity built on satellite-verified data and decentralized identifiers. Attached to each parcel are sustainability histories and crop data. The intended audience is lenders, insurers and traders, the people who decide whether a farmer gets a loan, a policy or a buyer.

The effort is a collaboration between the Syngenta Foundation India and the Agri-Entrepreneur Growth Foundation. A group of technical partners supports the work, including AIQUANT, Anastasia Labs and Andamio.

On-the-ground activity has centered on several districts in Maharashtra, including Achalpur and Anjangaon Surji.

From pilot to 100,000 in a few months
The growth curve is the most striking part of the story. Initial pilot registrations in April and May 2026 landed somewhere between approximately 7,965 and 10,500 farms.

By June 2026, the count had passed 15,000 farms. During parts of the expansion phase, daily registrations hit 500 farms.

The infrastructure is designed to scale to one million farmer registrations, which would put today’s figure at about a tenth of the target.

The expansion plan also envisions deeper integration with India’s agricultural ecosystem. That includes partnerships with the World Bank and the International Finance Corporation (IFC).

Why fragmented records keep farmers stuck
Smallholder farmers often lack formal documentation, and the records they do have are scattered across different sources. A verified, shareable record of a parcel’s history is meant to change that calculation for lenders and insurers.

A separate initiative is also worth knowing about. IndianChain launched on October 8, 2026, focusing on secure agricultural record-keeping and settlements in Telangana. IndianChain’s target and use case differ from the Maharashtra-focused registration project.

What this means
That said, the coverage of the project points to no direct market price implications. Registering farms is not the same as generating on-chain economic activity, and investors should keep those two things separate.

The real test is downstream. The value of a farm identity depends on whether lenders, insurers and traders actually use it to make decisions.

The involvement of the World Bank and IFC, if those partnerships deepen as envisioned, could be the signal to watch. Development finance institutions have the reach to turn a promising registry into infrastructure that banks rely on.

For now, the numbers to track are clear. Watch how quickly registrations climb toward the one million target, and whether credit and insurance products start appearing on top of the data.

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

Table of contents

On January 18, 2027, every firm that wants to put a dollar-pegged stablecoin in front of American users will answer to a single federal rulebook for the first time. The Office of the Comptroller of the Currency published that rulebook on Tuesday, October 21, 2026, in a final rule that locks in reserve, redemption, capital, and risk-management standards for payment stablecoin issuers — while the industry’s loudest fight, over whether issuers may keep paying yield or rewards, stays a case-by-case question the agency declined to settle in one stroke.

The final rule and its three companion bulletins take effect the same day as the GENIUS Act itself, January 18, 2027. The stakes are written in the market’s own numbers: Tether’s USDT carried a $182.8 billion market capitalization on October 21, and Circle’s USDC another $72.1 billion, according to CoinGecko data — more than $254 billion in dollar substitutes that, from that date forward, must sit inside the framework the OCC just finished. Put against a total cryptocurrency market value of roughly $2.88 trillion, the two largest dollar stablecoins alone are about 8.9 percent of the entire asset class.

Secretary of the Treasury Scott Bessent framed the moment in historic terms. “The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age,” Bessent said in the agency’s release.

Eighteen Months From Bill to Binding Rule The rule did not arrive quickly. The GENIUS Act was enacted on July 18, 2025, and its implementing framework has been under construction ever since. The OCC published its notice of proposed rulemaking on March 2, 2026, closed the formal comment window on May 1, and kept accepting late comments through July 1. By the time the final rule landed, roughly 328 comments had stacked up from crypto firms, trade groups, banks, academics, and individuals — a signal of how much the industry had riding on the details.

The gap between enactment and effective date spans 18 months, but the sharper arithmetic sits in the tail. The OCC finalized its rule 233 days after proposing it, and issuers now have exactly 89 days from publication to bring operations into line before the framework becomes binding. That compressed runway is the piece that will occupy compliance teams between now and January.

For readers new to the statute, what the GENIUS Act actually requires is a three-category licensing system: bank subsidiaries, federally qualified nonbank issuers, and state-qualified issuers under a $10 billion ceiling. The OCC’s part of that architecture is now finished, apart from the anti-money-laundering chapter still sitting in a separate rulemaking.

The provision that drew the most heat never left the statute: a payment stablecoin issuer may not pay “interest or yield to a payment stablecoin holder solely in connection with the holding, use, or retention of such payment stablecoin.” The proposal tried to police evasion with a rebuttable presumption that certain affiliate and third-party payments violated the ban. Commenters tore at it from both directions.

Some wanted the presumption broadened, or argued that a presumption was inadequate and that certain indirect payments should be conclusively banned. Others pushed to narrow or delete it entirely, warning that a presumption this wide could sweep in ordinary payments to related third parties that had nothing to do with rewarding holders for simply sitting on a token. This is not a theoretical squabble — it is the difference between Coinbase, PayPal, or Kraken being able to keep marketing a rewards rate on a stablecoin balance and having to redesign the product outright.

The OCC’s release does not hand down a blanket answer on existing rewards programs. The rule keeps the statutory ban intact and leaves the application of it to be assessed on the facts of each arrangement, with the agency free to update the regulations as issuer business models evolve. For the firms that spent the past two years building rewards features around stablecoin holdings, that is the closest thing to a live question this “final” rule could have produced.

Reserves, Redemption, and the Run the OCC Was Warned About Away from the yield fight, the final rule’s edits read as a deliberate loosening. The OCC made reserve asset management more flexible than proposed while keeping core liquidity, diversification, and concentration requirements so issuers “remain sufficiently reserved and capable of meeting redemption requests in a timely manner.” Capital and operational backstop requirements are more detailed than the proposal but simplified, and risk-management standards under new §15.13 scale with the nature, scope, and risk of an issuer’s activities rather than applying one block to everyone. The final rule also accommodates special purpose vehicle issuers structured to protect the rights of payment stablecoin holders.

Comptroller of the Currency Jonathan V. Gould put the emphasis on the practical floor the rule builds. “We are providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management,” Gould said.

But the comment record carried a warning the agency itself summarized: several commenters argued against any freeze or extension of redemption during a spike in withdrawal requests, on the ground that such provisions could accelerate a run. That is the paradox at the center of stablecoin regulation — the tools meant to slow a panic can themselves be read as a signal that redemptions might not be honored. The final rule’s treatment of redemption timing, down to a definition of “business day” that excludes weekends and federal holidays, shows the OCC working through exactly that tension.

What Still Has No Final Answer For a document titled “final,” the OCC left a striking amount of runway. The Bank Secrecy Act, anti-money-laundering, and sanctions chapters are being written in a separate rulemaking, and the agency will announce separately when it begins accepting applications and waiver requests from prospective issuers. The final rule also narrows the definition of “customer” to direct counterparties of the issuer, so a holder who bought a stablecoin through a third-party distributor is not a customer of the issuer until they redeem directly — a change that quietly redraws who is owed what protections.

The honest read is that January 18, 2027 is the beginning of compliance, not the end of the argument. The Treasury’s own comment window on its parallel Section 3 proposal closed on October 19 with the industry still litigating the same questions the OCC just heard. What to watch is concrete: the separate BSA/AML final rule, the OCC’s application-processing announcement, and the first public moves by Tether, Circle, and the exchanges to explain whether their existing yield and rewards features survive contact with the new text.

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

Canadian Dollar Forecast: Goldman Brings October Hike Into Focus After Alberta Vote The Canadian Dollar has gained against the US Dollar as Goldman brings forward its rate call, but Sterling has a tightening story of its own. Goldman Sachs now expects the Bank of Canada to raise interest rates on 28 October, bringing forward its call as rising inflation expectations add to the case for tightening despite weak employment.

The revision comes as the US Dollar to Canadian Dollar exchange rate extends its decline, trading at 1.4054 at 10:41 BST on Wednesday, down 0.09% on the day after a 0.28% fall on Tuesday.

Goldman forecasts a 25-basis-point increase to 2.50% next week.

MUFG also sees an October move becoming more likely, although its argument depends on policymakers prioritising future inflation risks and markets continuing to anticipate a hike.

The political backdrop has also improved following Alberta's vote to remain part of Canada.

Preliminary results showed roughly three-quarters of voters rejecting the proposal to begin a process towards a binding separation referendum.

For currency investors, that reduces an immediate source of uncertainty surrounding the oil-producing province, giving the Canadian Dollar a more favourable backdrop alongside rising interest-rate expectations.

The result does not resolve Canada's trade difficulties, however, and should not be confused with the inflation evidence behind Goldman's revised BoC forecast.

Image: USD/CAD exchange rate 48-hr chart Goldman Changes Its Call After the Surveys The business and consumer surveys have shifted attention towards the risk that higher costs become embedded in pricing decisions.

Goldman economists Megan Peters and Joseph Briggs wrote: "The message from today's surveys was more hawkish than we anticipated, with greater emphasis on improvements in activity, continued resilience, and price pressures than the potential headwinds from rising trade tensions with the US."

The economists also pointed to Governor Tiff Macklem's recent public remarks: "Combined with Governor Macklem's hawkish comments at this past weekend's IMF meetings, we now expect that the BoC will deliver a 25bp hike at next week's October meeting."

Consumers' five-year inflation expectations rose to 3.9% from 3.4%, while roughly half the businesses surveyed intended to pass some or all of their higher energy and tariff costs to customers.

That combination gives the BoC reason to worry about inflation persisting even without a strong jobs recovery.

But the Bank of Canada's survey findings carry an important timing qualification: around three-quarters of business interviews preceded the breakdown in US-Canada trade talks.

Responses collected after the breakdown showed weaker confidence and investment intentions alongside higher inflation expectations, leaving policymakers facing both growth and price risks.

The caution in the earlier ING and CIBC assessment of Canada's outlook therefore remains relevant, even as Goldman puts greater weight on the surveys' inflation warning.

An October Hike Would Leave December Open Goldman has also accelerated its expected second increase, but stops short of forecasting consecutive hikes.

Peters and Briggs wrote: "We are also pulling forward our forecast for a final 25bp hike to 2.75% (the center of the BoC's neutral rate range) to January 2027."

"Although a final hike in December remains a possibility, we believe that a still benign inflation backdrop and more visible headwinds from US trade tensions support a more gradual pace of policy normalization."

MUFG identifies a route to a faster repricing, rather than making the same firm forecast.

Senior currency analyst Lee Hardman cautioned: "However, it is not a done deal given the recent softer economic data flow from Canada including the second consecutive month of heavy job losses in September."

"A decision to raise rates this month would then encourage speculation that they could follow that up quickly with a second hike before the end of this year in December providing more support for the Canadian dollar."

Much of the initial adjustment has already happened.

Hardman recorded the shift on Tuesday: "There are currently around 21bps of hikes priced in compared to only 9bps at the end of last week."

Higher expected Canadian rates can support the currency by improving its prospective yield, but delivering an increase that investors largely anticipate may offer less additional support than signalling another soon afterwards.

Why GBP/CAD Faces a Different Test The Pound-to-Canadian Dollar exchange rate was up 0.05% at 1.8821 at the same time on Wednesday, illustrating Sterling's relative resilience despite the Canadian currency's gains against the US Dollar.

Wednesday's UK inflation release showed annual CPI rising to 3.5% from 3.1%, adding pressure on the Bank of England after stronger labour-market figures.

Before that release, Hardman wrote: "We continue to expect the BoE to hike rates next month and deliver a second hike early next year."

"A view that is already well priced into the UK rate market which is anticipating even more tightening and has almost three hikes priced in by March of next year."

MUFG's support for Sterling also depends on the forthcoming UK Budget preserving confidence in fiscal consolidation.

Image: Pound to Canadian Dollar rate chart for last 2 days. What This Means for USD/CAD and GBP/CAD USD/CAD's decline leaves the Canadian Dollar approaching next week's decision with substantial tightening already anticipated. A hike accompanied by encouragement for a December follow-up could extend that strength, whereas an emphasis on trade damage and patience would fit Goldman's slower January timetable.

For GBP/CAD, Canadian tightening alone may struggle to dislodge Sterling while a November BoE increase remains expected. A more urgent Canadian policy message, or UK Budget measures that undermine confidence, would give the Canadian Dollar a clearer advantage.

A BoC hold would challenge the rate expectations supporting the recent Canadian Dollar recovery and could lift both pairs. The employment weakness highlighted by MUFG keeps that risk alive ahead of 28 October.

Cardano founder Charles Hoskinson has welcomed TRON to Midnight, a privacy-focused blockchain network designed to bring confidential transactions to existing blockchain ecosystems.

Hoskinson made the remark in response to a commentary from SIG Network CEO David Millar-Durrant, who announced plans to extend Midnight’s privacy technology to TRON and its payment users in December 2026.

Midnight to Bring Privacy and Compliance to TRON Payments Millar-Durrant explained that SIG Network is working with Midnight to develop Nightmode, a solution that allows applications to integrate Midnight’s privacy features without leaving their existing blockchain networks.

The planned integration, which already supports Ethereum, will be targeting TRON later this year. Notably, Millar-Durrant described TRON as a leading blockchain for payments. He highlighted its use for business payrolls and everyday transactions, including payments to cab drivers and service providers.

How Midnight Could Improve Privacy on TRON Through Nightmode, SIG Network aims to bring Midnight’s privacy features to TRON while allowing users to continue accessing supported blockchain assets and applications.

According to Millar-Durrant, the system will support private payments, protect wallet balances and transaction details, and allow applications to determine what information users must disclose. It will also accommodate industry-standard screening tools used by centralized exchanges to support compliance requirements.

Additionally, applications will be able to segregate assets, control access, and integrate privacy features without abandoning their existing blockchain infrastructure.

Millar-Durrant emphasized that the proposed solution will combine privacy with compliance. This approach could allow users to protect sensitive financial information while meeting application-specific disclosure and screening requirements.

Hoskinson Welcomes TRON Founder Justin Sun The announcement has generated excitement across the Cardano community, with Hoskinson welcoming TRON to Midnight and tagging TRON founder Justin Sun.

The two blockchain founders have maintained a friendly relationship over the years. In August, Hoskinson praised Sun’s ambition and drive, noting that Sun had treated him well and remained committed to moving upward.

TLDR

Hackers hijacked a third-party notification provider for Ngrave’s LIQUID app and sent fake security alerts on Oct. 17.
About $2.56 million was stolen from 70 wallet addresses across four blockchain networks.
Bitcoin made up $1.77 million of the losses, followed by XRP, Ethereum-based assets and Stellar.
Ngrave says its ZERO hardware wallets were not breached. Victims entered their recovery phrases on a fake website.
The CEO said the company “absolutely and utterly failed” and has added new security controls.

Belgian hardware wallet maker Ngrave says thieves stole about $2.56 million from its customers after hijacking a system used to send app alerts. The company disclosed the attack on Oct. 19.

Attackers gained control of a third-party notification provider used by Ngrave’s LIQUID companion app. On Oct. 17, they used it to send fake security warnings straight to users.

The message said a user’s portfolio had been synced with a Pixel 9 device in Moscow. Tapping the alert opened a fake Ngrave website with a countdown timer and buttons to approve or deny the activity.

Both buttons led to the same trap. Users were asked to enter their 24-word recovery phrase or their Perfect Key, which gave attackers full access to their wallets.

Automated scripts then emptied the accounts within minutes. Ngrave traced the losses to 70 wallet addresses across four networks.

Bitcoin made up most of the stolen funds at $1.77 million. Thieves also took $454,000 in XRP, $316,000 in Ethereum-based assets and $18,000 in Stellar.

How the Attack Unfolded
Ngrave’s incident report says unauthorized access may have started on Oct. 11, six days before the fake alerts went out. Attackers got one access key and used it to obtain a second key with wider permissions, including access to some analytics data.

The company spotted the fake alerts within a minute of their appearance at 9:30 p.m. UTC on Oct. 17. Even so, the first wallet was drained six minutes later.

Ngrave shut off its notification system by 10:45 p.m. Thefts from wallets that were already compromised continued until 3:51 a.m. the next morning.

The company says its ZERO hardware wallets and private keys were never breached. Instead, attackers tricked customers into handing over their own recovery details.

The stolen funds moved through exchanges, blockchain bridges and new addresses. Ngrave traced bitcoin into 12 addresses, while XRP moved through 54 transfers.

Analytics firm Bitquery said in its own report that “most of it now sits on Hyperliquid as a Monero token.” It estimated about 81% of the funds ended up on the decentralized perpetuals exchange.

Ngrave CEO Admits Failure
Ngrave’s CEO gave a direct statement in the incident report. “In my humble opinion, the first duty of a crypto security company is to provide exactly that: security. In this, we have absolutely and utterly failed,” he said.

He said the company’s security was not strong enough when he took over as leader months earlier. Ngrave also said device information, wallet activity, IP addresses and approximate locations may have been exposed.

The incident adds to a difficult year for hardware wallet makers. Nearly a dozen security incidents in 2026 have involved brands such as Ledger, Trezor, Tangem, Safepal, Bitbox02 and Coldcard, with reported losses topping $180 million across two incidents.

Ngrave has replaced the compromised keys and plans tighter notification controls. These include two-person approvals, restricted domains and an emergency shutdown option.

The company is urging affected customers to set up new wallets and contact support. Its investigation is ongoing.

Binance’s stablecoin reserves have dropped to $41.6 billion, a one-year low, after $6.3 billion left the exchange since April. The drain is market-wide, and it is starving crypto rallies of fresh buying power.

Prices have not collapsed. Bitcoin (BTC) trades near $83,350, roughly 4% below its September peak. However, the cash needed to push it higher keeps shrinking.

How Far Has Binance’s Cash Pile Fallen?Binance’s ERC-20 stablecoin balance peaked near $51 billion in late November 2025, according to CryptoQuant data shared by analyst Darkfost.

It has since lost roughly $9 billion. As a result, reserves are back at levels last seen in early October 2025.

A spring recovery briefly lifted the balance to about $48 billion in early May. However, that gain has fully reversed, with $6.3 billion exiting since April.

The 90-day change in Binance’s stablecoin market cap has stayed negative since the summer and now reads -4.7%.

That is milder than the February and March slump. Back then, the 90-day change sank below -15% as BTC slid from roughly $95,000 to the mid-$60,000s.

Concentration raises the stakes. Binance still holds more than 70% of all exchange stablecoin reserves.

Stablecoin market cap change in Binance. Source: Darkfost/CryptoQuantIs the Drain Limited to Binance?No. Since April, Coinbase Advanced lost $2.5 billion in stablecoins, OKX $2.4 billion, and Bybit $2.3 billion, per Darkfost.

Together, the four venues have shed roughly $13.5 billion. Because the data tracks ERC-20 tokens only, the full outflow may be larger.

Meanwhile, total supply offers little offset. Tether (USDT) has hovered near $183 billion since April. USD Coin (USDC), in contrast, slipped from $78 billion to $72 billion, per CoinGecko.

This mirrors an earlier exchange stablecoin reserves drop, which pointed to a similar liquidity squeeze.

Why Does Every Bitcoin Rally Run Out of Fuel?The CryptoQuant chart exposes a divergence. BTC climbed more than 30% from its August low to $86,597 on Sept. 22, yet Binance’s stablecoin balance kept falling.

In other words, the Bitcoin price rallied without fresh exchange cash behind it. Such moves may lean on existing holders and leverage, which can leave them fragile.

That fragility now shows. BTC has given back about 4%, while Ethereum (ETH) has dropped roughly 11% from its Sept. 22 high of $2,775.

Trading activity has thinned too. BTC’s average daily trading volume fell 27%, from $38.6 billion in April to $28.2 billion so far in October.

Derivatives traders are not leaning in either. Funding rates are the fees long and short traders swap periodically. On Binance and Bybit BTC perpetuals, they sit at the neutral 0.01% baseline.

What Would Bring Buyers Back to Exchanges?Darkfost offers two explanations. First, exchanges may be trimming stablecoin inventory to match weaker demand, as investors avoid fresh crypto exposure.

Alternatively, some holders may have moved funds to platforms paying yield while they wait for better conditions.

Either reading points to the same outcome. Without new stablecoins on exchanges, buyers lack the dry powder to defend breakouts.

That pressure adds to Bitcoin’s October risk factors, which already weighed on sentiment entering the month.

The signal to watch is a turn in Binance’s 90-day change back above zero. Until then, rallies may keep running on positioning rather than new capital.

More broadly, the drain shows how much crypto price discovery still rests on a few centralized venues. When Binance’s cash pile shrinks, the whole market feels it.

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2 min read

Monero futures are heating up, posing volatility risks. (Jakub Żerdzicki/Unsplash)Summary

Monero futures open interest has surpassed $300 million, nearing January’s record of about $320 million and increasing the risk of a sharp, liquidation-driven price move.Open interest has also climbed to a five-week high of 515,730 XMR as monero’s spot price recently topped $600, suggesting leveraged bets are growing alongside the rally.A similar buildup in January preceded a 66 percent plunge, when monero fell from about $790 to below $300 as long positions were forcibly closed.Leveraged bets are building up in monero (XMR) futures, raising the odds of a sharp, sudden move in the price.

Monero (XMR) is a cryptocurrency built for privacy. Its transactions are hard to trace and at the market cap of $10.9 billion, it is the second-largest privacy coin in the world.

Notional open interest, or the dollar value of the number of active monero futures bets, has risen past $300 million, approaching the January peak of around $320 million, according to data source SoSoValue. Futures are contracts that let traders bet on a coin’s price without owning it. To date, the tally has topped $300 million only a few times, all this year.

“The last Time we reached that amount of Open Interest was in Jan 2026. Monero Crashed 66% in the next 20 days. I Smell a very big Liquidation Event on XMR,” said pseudonymous crypto analyst Doctor Profit, who correctly called BTC’s 2025 top and pivoted to accumulation in July this year.

Open interest is tracked in dollars and in coins. Traders use the two differently. The dollar figure shows the current size of the market’s positions and lets traders compare monero with other cryptocurrencies. Liquidations are also typically reported in dollars, so a larger dollar figure points to a larger potential wave of forced selling. Open interest is also rising in coin terms. At 515.73K XMR, it is at a five-week high and up sharply from 400K XMR a week ago.

Liquidations, or forced closure of positions by exchanges, happen because futures involve leverage, in which a trader puts up a small deposit, called margin, to control a much larger position.

This leverage boosts gains when the market moves as expected, but when it doesn’t, the margin is eaten away. At some point, the exchange steps in and closes the position to prevent the trader’s losses from exceeding the collateral they posted and to protect the exchange from unpaid losses.

Traders betting on a rise, called longs, get liquidated when the price falls. The liquidation, in turn, adds to selling pressure in the market. This is especially true when most traders are long. In such cases, a slight price decline can trigger mass liquidation of longs and a price crash.

That’s what happened in January when open interest hit a record high alongside a price rise, reflecting an overcrowding of longs. The spot price hit a high of around $790 on Jan. 14. By the first week of February, it had crashed to under $300. This was characterized by liquidation of longs worth several million dollars, according to Coinglass.

This time too, the spot price has risen with the open interest. Monero recently topped $600, the highest since January.

Whether history repeats remains to be seen.

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Compound [COMP] staged a sharp price recovery, following a daily increase of 22.46%  as expanding trading activity triggered renewed market attention to the decentralized lending protocol. The price rally notably marked a bullish turnover for the token after struggling through an extended period of declining prices.

As per CoinMarketCap data, COMP’s 24-hour Spot trading volume increased by 975.2% to $143.8 million, which suggested significant growth in market participation. This sudden growth in activity followed the token’s price recovery from its recent lows, reinforcing its position among the day’s top performing cryptocurrencies.

Besides, the rally extended beyond the spot markets, as the derivatives traders also substantially increased their exposure.

Derivatives activity signals growing speculative interest Compound’s derivatives market registered an even sharper daily increase as its Futures trading volume skyrocketed 1,523.12% to $243.02 million in .

Additionally, Open Interest (OI) also climbed 103.58% to $37.85 million in 24 hours, highlighting significant growth in outstanding futures positions. This simultaneous expansion in both volume and OI suggested fresh leveraged participation instead of a merely increased trading turnover.

The derivatives volume notably exceeded the spot volume, which reflected the considerable role of Futures trading during COMP’s price rally. Here, it is also crucial to note that with leverage expanding sharply, COMP also faced greater exposure to potential liquidations in case of sudden price fluctuations.

Besides that the token’s exchange holdings offered another significant consideration as far as the rally’s sustainability is concerned.

Source: COMP Open Interest on CoinGlass Exchange reserves climb despite COMP’s recovery According to CryptoQuant, COMP‘s USD-denominated exchange reserves surged 21.42% in 24 hours as of writing, reaching roughly $32.8 million. The surge notably accompanied Compound’s rapid price expansion, which further raised the dollar value of exchange-held assets.

The exchange reserve expansion therefore did not necessarily confirm an equivalent surge in the number of COMP tokens on exchanges. However, the elevated reserve valuation still highlighted the significance of monitoring exchange balances as the trading activity intensified.

Specifically, a persistent increase in actual exchange-held token balances could create additional selling pressure in case the token holders decide to distribute. However, for now, the figures alone offered insufficient evidence of increased token deposits or confirmed selling activity.

Source: COMP Exchange Reserve USD on CryptoQuant Can COMP extend its recovery toward $30? Compound’s weekly technical structure highlighted a strong recovery from the $15.69 region, with the bulls reclaiming the significant $21.31 support level. As the breakout unfolded, COMP pushed towards the $25.95 region, bringing the $30 resistance level into the spotlight.

Interestingly, the Directional Movement Index indicator favored the buyers, with the +DI signal reaching 26.30 against the −DI signal at 12.52. Notably, the widening gap between the directional signals validated the bullish picture, as the  ADX stood at 21.38.

COMP, however, was yet to overcome the $30 level, which previously acted as a crucial resistance region. Ultimately, COMP’s price recovery retained a bullish picture, technically supported by the improving directional strength. 

A confirmed breakout above the $30 weekly resistance would be crucial to reinforce the case for further gains.

Source: COMPUSDT Chart on TradingView Final Summary COMP’s rally attracted heavy futures activity, with Open Interest more than doubling. COMP’s bullish recovery strengthened, but breaking $30 remains crucial for further gains.

Key Takeaways Wabtec's Q3 earnings rose 22% to $2.83 per share, beating estimates, while revenues grew 8.1% to $3.12B. Freight and Transit adjusted margins expanded 190 basis points and 260 basis points, respectively, in Q3. WAB's total backlog surged 22.9% to $31.44B, while operating cash flow rose to $455M from $367M. Wabtec Corporation (WAB - Free Report) reported mixed third-quarter 2026 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Both metrics increased year over year, supported by growth across Freight and Transit businesses and improved profitability.

Quarterly earnings (excluding 41 cents from non-recurring items) of $2.83 per share beat the Zacks Consensus Estimate of $2.72 by 4.04% and increased 22% year over year. Revenues climbed 8.1% year over year to $3.12 billion but missed the consensus mark of $3.18 billion by 2%. The 12-month backlog increased 8.8% to $8.99 billion.

Wabtec's Freight Business Delivers Solid GrowthFreight segment revenues increased 6.9% year over year to $2.24 billion. Services revenues rose 6.7% to $794 million, driven by stronger core demand and increased modernization deliveries. Equipment sales edged up 0.3% to $679 million as higher mining sales were largely offset by lower locomotive deliveries.

Digital Intelligence revenues surged 24.2% to $369 million, aided by the Frauscher Sensor Technologies acquisition and robust core digital demand. Components revenues increased 5.3% to $395 million, supported by industrial, maintenance-of-way and international demand. Freight adjusted operating margin expanded 190 basis points to 26.4%, reflecting improved gross margins and operating efficiency.

WAB's Transit Segment Posts Strong Margin GainsTransit segment revenues advanced 11.3% year over year to $883 million. Growth reflected the Dellner Couplers acquisition and higher original equipment and aftermarket sales, partially offset by unfavorable currency movements. On a constant-currency basis, revenues increased 12.5%.

Original equipment revenues rose to $408 million from $367 million, while aftermarket revenues increased to $475 million from $426 million. Transit adjusted operating margin expanded 260 basis points to 18.1%, primarily benefiting from improved gross profitability despite higher operating expenses relative to sales.

Wabtec Benefits From Organic and Acquisition GainsAcquisitions contributed $114 million to third-quarter revenue growth, comprising $49 million from Freight and $65 million from Transit. Organic growth added $137 million, including $102 million from Freight and $35 million from Transit.

Portfolio optimization activities reduced revenues by $12 million, while unfavorable foreign exchange movements lowered sales by $5 million. Organic growth exceeded acquisition contributions, highlighting the role of underlying customer demand alongside strategic investments in expanding Wabtec's business.

WAB Expands Consolidated Operating ProfitabilityAdjusted gross margin improved 180 basis points year over year to 37.4%, while adjusted operating margin expanded 190 basis points to 22.9%. Adjusted operating income increased to $715 million from $607 million, supported by higher sales, favorable product mix and productivity improvements.

GAAP operating income climbed to $625 million from $491 million, with operating margin expanding 300 basis points to 20%. Benefits from cost recovery, manufacturing efficiencies and Integration 3.0 savings helped offset higher raw material costs, tariffs and acquisition-related expenses. Selling, general and administrative expenses increased to $383 million from $375 million.

Wabtec's Backlog Strengthens Revenue VisibilityTotal backlog reached $31.44 billion as of Sept. 30, 2026, up 22.9% from $25.58 billion a year earlier. Freight backlog increased to $25.77 billion, while Transit backlog reached $5.67 billion, reflecting continued order momentum across both businesses.

The 12-month backlog grew $725 million year over year. Freight accounted for $6.54 billion of near-term orders, while Transit represented $2.45 billion. Recent orders included $1 billion in international locomotive and service contracts and $633 million in North American locomotive and modernization orders.

WAB Generates Higher Operating Cash FlowCash from operations increased to $455 million from $367 million in the prior-year quarter, primarily driven by higher net income. Operating cash flow conversion stood at 82% compared with 83% a year earlier.

Wabtec ended the quarter with $489 million in cash, cash equivalents and restricted cash. Total available liquidity was $2.09 billion, including $1.61 billion available under existing credit facilities. Total debt stood at $6.38 billion. During the quarter, Wabtec repurchased $305 million of shares and paid $52 million in dividends.

WAB Raises 2026 Earnings OutlookWabtec raised and tightened its full-year 2026 adjusted earnings guidance to $10.85-$11.05 per share from the previous $10.60-$10.90 range. The midpoint increased 20 cents and represents expected year-over-year growth of approximately 22%. The Zacks Consensus Estimate for 2026 earnings is currently pegged at $10.89 per share, below the midpoint of the guided range.

The company maintained its 2026 revenue guidance at $12.30-$12.60 billion, implying growth of approximately 11.5% at the midpoint. The outlook assumes continued operating margin expansion, productivity improvements and benefits from Integration 3.0 and portfolio optimization initiatives. The Zacks Consensus Estimate for 2026 revenues is currently pegged at $12.53 billion.

Currently, Wabtec carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q3 Performance of Another Transportation CompanyDelta Air Lines (DAL - Free Report) reported third-quarter 2026 earnings (excluding 57 cents from non-recurring items) of $1.72 per share, missing the Zacks Consensus Estimate of $1.80 by 4.44%. Earnings increased year over year despite sharply higher fuel costs and rising non-fuel expenses.

Adjusted revenues climbed 16% year over year to $17.59 billion but missed the consensus estimate of $17.74 billion by 0.9%. Broad demand strength and healthy yields lifted adjusted total revenue per available seat mile, or TRASM, 15%, while premium and diversified revenue streams continued to expand.

Upcoming Earnings Release of a Transportation CompanyUnion Pacific (UNP - Free Report) is scheduled to report third-quarter 2026 earnings on Oct. 22. The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised 2.1% upward over the past 60 days.

UNP’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters (missing the mark on the other occasion). The average beat is 2.8%. Improvement in the freight scenario is expected to aid results.

Polkadot has a blunt message for anyone who used the Fearless Wallet browser extension since February 2025: assume your accounts are compromised, and move your funds.

The warning came in a security notice published on October 21, 2026. It describes a flaw that quietly shipped users’ private keys to a server controlled by an attacker. The flaw had been live, on and off, for roughly a year and a half.

What went wrong inside the extension
According to Polkadot’s notice, four versions of the Fearless Wallet extension were handing out copies of that master key. The affected releases are 3.0.1, 3.0.3, 3.0.4, and 3.0.5. When a user unlocked the wallet, the extension sent their private key to an attacker-controlled server.

The malicious code entered the project on February 19, 2025. It arrived through a GitHub pull request tied to the TON ecosystem.

The leak did not run continuously. Polkadot said it was active intermittently until at least October 10, 2026. That stretch covers more than 19 months of potential exposure for anyone running the compromised builds.

The damage so far is concrete. Eight users have reported unauthorized transactions linked to the exploit, totaling 17,286 DOT. Because a leaked key can sit unused until an attacker decides to strike, the number of exposed accounts could exceed the number of drained ones.

When Polkadot issued its warning, the Chrome Web Store still listed an affected version of the extension. That listing showed around 6,000 users.

A third-party wallet, not an official one
Polkadot was careful to draw a line in its notice. Fearless Wallet is a third-party product. It has never been an official wallet of the Polkadot network.

The timeline also raises uncomfortable questions. Early complaints describing similar problems after an update were logged as far back as October 2025. The detailed public explanation of the coding flaw did not arrive until the October 2026 announcement. That leaves roughly a year between the first user reports and a full public accounting.

What affected users are being told to do
Polkadot’s guidance is straightforward. Anyone who interacted with the vulnerable extension since February 2025 should treat all associated accounts as compromised.

Users are being told to generate new keypairs in a different wallet and transfer their funds immediately. Polkadot recommended Nova Wallet for that move.

Simply updating Fearless Wallet does not solve the problem. If a key has already leaked, the attacker still holds a working copy. The only real defense is to move assets to a fresh key the attacker has never seen.

Staked or locked funds add a wrinkle. Polkadot noted that recovering them may require additional steps. In certain scenarios, it pointed users toward tools such as PAPI Rescue.

Polkadot also flagged a second-order threat: recovery scams. The foundation cautioned users to watch for opportunists posing as helpers who promise to retrieve lost funds.

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

Decentralized exchange PancakeSwap’s total value locked (TVL) grew nearly 19% over the past week, adding about $380 million as the protocol moves toward a major overhaul of how it distributes trading fees to liquidity providers. 

According to DefiLlama, PancakeSwap’s TVL climbed to $2.4 billion on Wednesday, up from about $2.02 billion on Oct. 14. The increase was concentrated in its V3 liquidity pools, where TVL more than doubled to about $739 million from $336 million over the same period.

The growth coincided with PancakeSwap opening a governance vote on a proposal called “The Flip,” which would increase liquidity providers’ share of swap fees on V3 and Infinity pools to 88%, up from 66%-68% on most pools.

The proposal would also gradually reduce daily CAKE token emissions by approximately 69%, from 22,500 to 7,000 tokens. Voting opened on Wednesday, Oct. 21, and will run until Oct. 24, with implementation expected to begin in November if approved. 

PancakeSwap leads BNB Chain trading as tokenized stocks expandPancakeSwap accounted for approximately $4.67 billion in decentralized exchange trading volume on BNB Chain over the past seven days, representing about 71% of the network’s total, according to DeFiLlama. The network also hosts most of PancakeSwap’s liquidity, accounting for roughly $2.33 billion of its $2.40 billion in TVL.

The activity comes amid broader growth across BNB Chain’s DeFi ecosystem. That network’s TVL climbed approximately 8.3% over the past seven days to $5.84 billion, according to DeFiLlama. Decentralized exchange trading volume also surged 40.2% to $6.54 billion over the same period, even as its stablecoin market capitalization declined 0.6% to $13.1 billion.

Beyond crypto, BNB Chain has also seen an expansion in tokenized equities, a market in which PancakeSwap has an established presence. The decentralized exchange began supporting Binance’s bStocks in June, allowing users to trade tokenized US stocks onchain.

On Oct. 15, Binance announced that bStocks surpassed $1 billion in assets under management, approximately four months after launching. The company reported more than $40 billion in cumulative trading volume and said 11.2% of bStocks’ value was deployed in DeFi in early October.

Magazine: Agents can trade 24/7 — but Yat Siu warns you could lose access at any time

Related to this topicAI Agent Payments Report

Birdeye launches Peak, a $799/month institutional crypto terminal offering trading data, liquidity analysis and market intelligence.Bots dominate crypto trading, accounting for roughly two-thirds of trades and up to 80% of Solana volume, according to Birdeye's internal research.Birdeye targets institutional investors as demand for reliable crypto data grows amid industry consolidation and rising AI adoption.Every day, billions of dollars move through crypto markets. Investors watch trading volumes to understand where money is flowing and which assets are attracting attention. But how much of that activity comes from actual people?

According to data from Birdeye, roughly two-thirds of crypto trades are driven by bots. On Solana, automated activity may account for as much as 80% of trading volume. Yet only a tiny fraction of wallets appear to be responsible.

The Singapore-based company unveiled Peak on Wednesday, targeting investment funds, family offices and professional traders. Subscriptions start at $799 a month, with custom packages for larger institutions.

Birdeye already supplies data to major crypto platforms. Its infrastructure tracks more than 400 exchanges across 20 blockchains. Peak brings that information directly to institutional investors.

Introducing Birdeye Peak

The unified digital asset terminal for financial institutions and professionals, built to navigate Internet Capital Markets from a single platform. pic.twitter.com/G6G1rKuvzb

— Birdeye Data (@birdeye_data) October 21, 2026 What Does Birdeye Peak Actually Do? Imagine a fund preparing to buy $10 million worth of Bitcoin. Seeing a large daily trading-volume figure tells it little about where that activity happens or whether a large order could move the price.

Birdeye Peak aims to answer those questions.

Typing TDA BTC brings up Bitcoin’s spot trading volume across individual exchanges, including each venue’s market share. Users can examine liquidity depth, holder concentration, ETF flows, regulatory filings and fundraising history in one workspace.

The terminal also covers token unlock schedules, wallet activity and risk measures. It offers AI-assisted research, watchlists and spreadsheet exports.

For institutions, these details can influence how much they invest, where they execute trades and how they assess risk.

“The token screener, what most people know as Birdeye Terminal, was simply our first major product, and it now serves millions of retail users,” co-founder and CEO Kha Nguyen told BeInCrypto. “When millions of people depend on your numbers, you have to get accuracy and latency right at the same time, every day. That pressure forced us to develop deep expertise in data indexing and analysis.”

Coinbase uses Birdeye Data’s Exit Liquidity API to evaluate onchain pools on Base.

The API estimates how much value can actually leave a pool before significant slippage, not simply how much liquidity the pool reports.

If you’ve used that signal to assess a @base market, you’ve… pic.twitter.com/XRda1JQdH7

— Birdeye Data (@birdeye_data) October 12, 2026 Crypto Trading Is Dominated by Bots, Birdeye’s Data Suggests The company’s research points to something investors rarely see in ordinary trading dashboards.

Birdeye estimates that roughly one-third of trades come from humans and two-thirds from bots. On Solana, as much as 80% of trading volume is identified as automated activity.

Yet just 1% to 3% of wallets behave like bots, according to its September analysis.

“If a trade happened onchain, its volume is real, it moved the market,” Nguyen said. “The more interesting question is how much of that volume comes from humans trading manually versus bots, and the answer is striking. A very small number of bots is responsible for the majority of crypto trading volume,” he said. “That is exactly the kind of signal institutions need to see clearly, and it is what Peak is built to surface.”

The implications extend beyond professional trading desks.

A token recording millions in daily volume might appear to attract enormous investor interest. Some of that activity could instead come from automated market-making, arbitrage or bots repeatedly buying and selling.

This matters when investors use volume to judge market interest or liquidity.

Birdeye identifies bots through rule-based analysis of trading behaviour.

“Generally we’ll categorise them as a bot when they do something a human technically cannot,” Nguyen explained.

That includes several trades per second, complex contract interactions and purchases within seconds of a token listing.

Source: Birdeye internal research. Approximate trade-count shares, not shares of total trading volume. Full methodology is scheduled for December 2026. However, the findings remain preliminary. Birdeye has yet to publish its full methodology, which it plans to release in December alongside a Solana year-end report.

Note: The figures have not been independently verified, and automated trading does not necessarily indicate manipulation.

Crypto’s Data Companies Are Fighting for Wall Street Peak arrives during a major shake-up in crypto analytics.

Kaiko acquired Amberdata in June. Blockworks bought Messari the same month for a reported sum exceeding $10 million, far below Messari’s $300 million valuation in 2022. Allium raised $40 million, while Dune cut 25% of its workforce as it refocused on institutional customers and AI. Reliable data has become increasingly important as AI assistants enter financial research.

When Blockworks opened its datasets to AI tools, co-founder Jason Yanowitz warned that “the agent has no way to check a number, so the data has to be standardized and sourced before it ever gets there.”

Birdeye believes owning its data infrastructure gives it an advantage. Unlike several competitors, the company has taken no outside funding.

“Every financial decision should come from real business demand and what helps the company grow healthily, not from following a trend,” Nguyen said. “Having capital and knowing how to deploy it well are two different things. I want to be sure that if we take on external money, we know exactly what we are doing with it.”

He has left the door open to investment.

“As demand increases, if the timing is right, we would be happy to welcome new investors.”

For investors, Peak’s biggest test will be whether its data helps distinguish genuine market demand from the enormous volume generated by machines.

Disclaimer

BeInCrypto independently reports and controls this Feature. Quoted views belong to their speakers. This content is general and non-personalized; it does not consider your circumstances and is not investment research, financial, investment, legal or tax advice, or an offer, endorsement or recommendation to transact in any crypto-asset, product or service. Verify material information before acting. Crypto-assets are volatile and may result in total loss. BeInCrypto gives no warranty as to completeness, accuracy or timeliness, except where required by law.

Key Takeaways Summit advances ivonescimab into phase III testing for first-line metastatic colorectal cancer.Summit launches a global phase II/III study combining ivonescimab with Padcev for advanced bladder cancer.Partnerships with AZN, GSK and Arcus expand combination trials, while AZN commits $2 billion to Summit. Summit Therapeutics (SMMT - Free Report) is working to expand ivonescimab’s growth potential beyond non-small cell lung cancer (NSCLC), its lead development area. The company is advancing the investigational drug across several other cancer types, including colorectal and bladder cancer, to broaden its potential applications.

Alongside its internal development efforts, Summit is also collaborating with established pharmaceutical companies, including AstraZeneca (AZN - Free Report) , GSK plc (GSK - Free Report) and Arcus Biosciences (RCUS - Free Report) , to evaluate ivonescimab in combination with other investigational and marketed cancer therapies.

Summit Advances Ivonescimab Into New Cancer IndicationsColorectal cancer is one of Summit’s most important internal development opportunities beyond lung cancer. In May 2026, a phase II study co-sponsored by Akeso, Summit’s China-based partner, showed promising results for ivonescimab combined with chemotherapy in previously untreated patients with unresectable metastatic colorectal cancer (mCRC).

Building on these findings, Summit is conducting the global phase III HARMONi-GI3 study, which compares ivonescimab plus chemotherapy with bevacizumab plus chemotherapy as a first-line treatment for unresectable mCRC. The study marks Summit’s first clinical program outside NSCLC to advance to phase III, representing an important step in the company’s efforts to expand ivonescimab’s development into additional tumor types.

Summit is also expanding ivonescimab’s development into urothelial carcinoma, the most common type of bladder cancer. The company recently initiated the global phase II/III HARMONi-GU1 study to evaluate ivonescimab in combination with Astellas Pharma and Pfizer’s Padcev (enfortumab vedotin) against Merck’s Keytruda (pembrolizumab) plus Padcev as a first-line treatment for advanced urothelial carcinoma.

The study will directly compare the investigational combination with an established treatment regimen. This approach could help determine whether adding ivonescimab’s dual-targeting mechanism provides additional clinical benefits in a competitive cancer treatment market.

SMMT's Partnerships Boost Ivonescimab’s Growth PotentialBeyond its internal clinical programs, Summit is using strategic collaborations to explore ivonescimab across a wider range of solid tumors.

Earlier this month, Summit's pipeline expansion received a boost from its strategic collaboration with AstraZeneca and Daiichi Sankyo. The companies plan to evaluate ivonescimabin combination with Datroway (datopotamab deruxtecan), a TROP2-targeted antibody-drug conjugate (ADC), across multiple solid tumors, including breast and lung cancers.The collaboration is expected to begin with a phase III study in first-line triple-negative breast cancer (TNBC), an aggressive form of breast cancer with significant treatment challenges.

The agreement builds on Summit’s broader collaboration with AstraZeneca announced last month to evaluate ivonescimab alongside sonesitatug vedotin (Sone-Ve), AstraZeneca’s investigational cancer therapy, in gastrointestinal cancers. As part of the broader agreement, AstraZeneca also committed to a $2 billion investment in Summit, providing substantial financial support for the company’s development strategy.

Earlier this year, Summit also partnered with Arcus Biosciences to evaluate ivonescimab with casdatifan for advanced kidney cancer, with initial data expected by mid-2027. Summit also partnered with GSK to assess ivonescimab in combination with its investigational B7-H3-targeted ADC, risvutatug rezetecan, across multiple solid tumors.

These partnerships provide opportunities to combine ivonescimab with other promising cancer medicines while sharing development responsibilities and costs.

The collaboration reflects Summit’s broader strategy of combining ivonescimab with therapies that target different cancer-related pathways. Such combinations could potentially improve treatment outcomes, although their clinical value will need to be established through studies.

Summit Maintains Its Focus on Lung CancerBesides expanding into other tumor types, Summit continues to prioritize lung cancer, which represents its most immediate potential path to commercialization in the United States. The FDA is currently reviewing an application seeking approval for ivonescimab in combination with chemotherapy for patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who had progressed following EGFR-TKI treatment. A final decision is expected by Nov. 14, 2026.

A potential approval could give Summit its first commercial opportunity in the United States and establish an important foundation for the drug’s further development in lung cancer.

Elon Musk dropped a revenue projection on SpaceX's latest earnings call that would put the company ahead of every business on the planet, and his CFO looked like he needed a moment to recover.

Elon Musk gave investors a striking new revenue projection. On the October 20, 2026 third-quarter earnings call for SpaceX (NASDAQ:SPCX | SPCX Price Prediction), Musk said: “I mean, in a nutshell, what this implies for SpaceX annual recurring revenue by the end of [2027] is somewhere between $500 billion and a trillion.”

He then added, “On that crazy note, I don’t want to give Bret a heart attack,” a reference to CFO Bret Johnson. Annual recurring revenue is a run rate: one period of current revenue annualized. It measures where the business is heading at a single moment, distinct from a full year of booked sales.

A Steep Climb From Today’s Run Rate On the same call, Bret Johnson said SpaceX remains on track for $100 billion in annual recurring revenue by the end of this year, defined as December revenue annualized. Third-quarter revenue came in at $14.6 billion, up 161% from $5.6 billion a year earlier. Reaching the low end of Musk’s range means the run rate has to grow again within roughly 12 months of SpaceX crossing $100 billion. Wall Street currently estimates SpaceX will book $315 billion in sales in 2028 and $626 billion by 2030, so as usual, Musk is thinking a lot more optimistically than consensus.

Compute and Grokbot Power Musk’s Math Musk tied the forecast to SpaceX’s AI expansion. Elon Musk said he “would be surprised if we brought on less than 13 gigawatts of compute by the end of next year.” Nameplate capacity was 1.7 gigawatts at the end of Q3. That compute already drives results: the superintelligence segment produced $7.6 billion in revenue and $5 billion in adjusted EBITDA.

Demand, by Musk’s account, exceeds supply. “We could rent out our compute several times over if we said yes to everyone,” he said, adding that contracts are “renewing at higher dollars per watt.”

The second driver is Grokbot. SpaceX said the agent had 800,000 paid weekly users earlier this month, more than doubling over the prior month. Musk said: “I think Grokbot may end up being what uses most of our superintelligence compute.”

How Musk’s $1 Trillion Compares to Amazon and Walmart The largest U.S. companies by revenue are Amazon (NASDAQ:AMZN), at $716.9 billion for 2025, and Walmart (NASDAQ:WMT), at $713.2 billion for the fiscal year ended January 2026. Elon Musk’s $1 trillion upper end would top both. This comparison sets a forward-looking run rate against revenue those companies have already reported. Wall Street believes Amazon will first top $1 trillion in revenue in 2028, when estimates for sales top $1.1 trillion.

What to Watch Before You Trust the Trillion Musk offered this range as his own projection on the call. SpaceX’s formal outlook is narrower: Bret Johnson guided Q1 2027 total revenue to $33 billion to $37 billion. Musk also tempered his compute plan: “I don’t expect everything to go right.”

Three milestones will show whether the trend holds:

Compute online. Management expects 2.5 to 3 gigawatts by the end of Q4. Delays there undermines everything. Year-end run rate. If SpaceX’s December revenue supports $100 billion, Musk’s starting point holds. Q1 2027 results. A result at or above the guided range would support the steep climb. A miss would push the trillion further out. Contact [email protected] for any questions or corrections.

Tesla has shed more than a fifth of its value this year, yet Robotaxi miles are piling up and delivery records keep falling. Whether those tailwinds are enough to turn a $10,000 stake into a life-changing sum depends on one…

Shares of Tesla (NASDAQ:TSLA | TSLA Price Prediction) closed at $354.72 in the most recent session, down 21.12% year to date. Here is what a $10,000 stake could be worth by 2031, the end of the five-year forecast window.

The selloff has drove the stock well below its 52-week high of $498.83. Meanwhile, Robotaxi, energy storage and full self-driving software keep growing, which makes Tesla worth a fresh look.

Base Case Turns $10,000 Into $14,296 by 2031 In the base case, a $10,000 investment in Tesla could be worth about $14,296 by 2031. That works out to a total return of 42.96%. Behind that figure is a projected five-year share price of $507.11, which equals an annualized return of 7.41%.

Now for the doubling question in the headline. To turn $10,000 into $20,000, Tesla shares would have to reach $709.44. Even the five-year bull case, at $665.49, comes up short.

That path ends with the stake worth $18,761, returning 87.61% overall. For your money to double within this window, Tesla would need to beat even the optimistic case.

Bull, Base and Bear Paths for Your $10,000 Five-Year Horizon (2031) Scenario Target Price Total Return Value of $10,000 Bull $665.49 87.61% $18,761 Base $507.11 42.96% $14,296 Bear $403.54 13.76% $11,376 One-Year Horizon (2027) Scenario Target Price Total Return Value of $10,000 Bull $459.15 29.44% $12,944 Base $391.09 10.25% $11,025 Bear $354.06 -0.19% $9,981 The model has a confidence score of 0.9, which it rates as high. Wall Street’s consensus target is $397.83, and analysts are split. There are 4 strong buy, 15 buy, 21 hold, 2 sell and 2 strong sell ratings.

The model blends trailing P/E, forward P/E and that analyst target. It uses forward EPS of 2.0029 and a forward P/E of 177, then reduces the upside with a mega-cap penalty.

Three Drivers That Could Lift Your Stake Autonomy is starting to pay. Active FSD subscriptions reached 1.48 million, up 56% YoY. Robotaxi has expanded to seven U.S. metros. On the second-quarter call, Ashok Elluswamy said the fleet has driven “more than 380,000 miles of unsupervised Robotaxi, now across six cities in two different states” with “zero notable incidents.”

Vehicle demand bounced back. Second-quarter deliveries hit a record 480,126 vehicles (+25% YoY), and revenue grew to $28.24B (+25.5% YoY), beating estimates. Vaibhav Taneja said Tesla “exited Q2 with our largest order backlog since 2023.” Energy storage deployments reached 13.5 GWh (+41% YoY).

New products add upside. Cybercab is in pilot production at Gigafactory Texas. First-generation Optimus lines are being installed at Fremont, and the AI5 inference chip has taped out. Musk also revealed a new Roadster last week, and the stock lifted on the news (Forbes). He told analysts, “I think Optimus will be the biggest product ever.”

Risks That Could Shrink the Payoff Profitability is the light spot. Second-quarter non-GAAP EPS of $0.33 missed the $0.5367 estimate. Operating margin fell to 1.4%, and free cash flow came in at -$1.09B.

Management expects capital spending of “more than $25 billion” this year and says it will keep going up for two or three years. The stock already trades at about 369 times trailing earnings, so there is little room for execution slips.

There are other risks to consider. Battery and component supply could limit production, and FSD still lacks approval in China and parts of Europe.

The Robotaxi, Optimus and Cybercab ramps all has execution risk. Volatility is high too: Tesla’s beta is 1.916, and the stock fell 17.27% over the past year. With the next earnings report coming up (Morningstar), watch for margins and cash burn.

What $10,000 in Tesla Could Become By 2031, the model’s scenarios put a $10,000 Tesla stake between $11,376 and $18,761, with a base case of $14,296.

Doubling your money would require exceeding even the most optimistic scenario. These are model-based scenarios, not guarantees. Consider it a projection, not investment advice.

Contact [email protected] for any questions or corrections.

Sundar Pichai just confirmed Google Cloud is turning away customers, and he called the reason behind it non-negotiable. The admission sent Alphabet sliding while the rest of big tech climbed, leaving investors to guess how much revenue Google is actually…

Shares of Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) are sliding even while the NASADQ 100 is up 1% on Wednesday morning. The market is digesting an unusual admission from Google’s chief executive: Google Cloud is giving up revenue so the company’s frontier AI work keeps first claim on scarce computing power. Alphabet stock is down 2% to $331.83, a decline that puts a market price on that choice. That drop in GOOGL stock stands out as most of large-cap technology is moving higher.

The Technology Select Sector SPDR ETF (NYSEARCA:XLK) is rising 1% to $187.73. Mega-cap growth names are firm as well, with the Invesco QQQ Trust (NASDAQ:QQQ) up 1% to $726.22. Such a split ties the selling directly to Google’s own capacity story and to the comments its chief executive made about it.

Meanwhile, shares of Microsoft (NASDAQ:MSFT) are down 0.3% to $530.24, a fraction of the slide in Alphabet stock. Amazon (NASDAQ:AMZN) shares are down 0.5% to $261.31, another modest dip next to the heavier selling in Alphabet stock.

Pichai Puts DeepMind Ahead of Cloud Customers Google CEO Sundar Pichai described a deliberate choice. In an interview released on the Big Technology Podcast in the prior session, he said Google Cloud puts the company’s own research ahead of outside demand. “Our cloud business is at any given moment in time forgoing short-term revenues because we are making compute trade-offs to support frontier AI development,” he stated. Pichai added that giving Google DeepMind enough computing capacity is “non-negotiable.”

Fresh business is where the squeeze shows most clearly, since Pichai said taking on new customers requesting capacity for next year would be “incredibly difficult.” He didn’t say how much cloud revenue Google is giving up, which leaves the size of the trade-off undefined for anyone trying to model the unit and leaves Alphabet stock pricing a cost the market can’t yet measure.

Selling Stays Pinned on Alphabet as Tech Funds Rise Alphabet makes most of its revenue from search and YouTube advertising, with Google Cloud a smaller but faster-growing unit, while Microsoft leans on its Azure cloud and software subscriptions and Amazon pairs Amazon Web Services with online retail. For Alphabet, the constrained business is a key growth driver, which raises the stakes on any revenue Google Cloud leaves behind.

On the bullish side, Pichai is rationing Google Cloud capacity because requests exceed it, a sign that Alphabet’s cloud products are in heavy demand. The same compute crunch is lifting the power, cooling, and networking suppliers behind the data-center expansion, which we profiled in a free AI infrastructure report. Keeping Google DeepMind fully supplied also protects the frontier AI work the company treats as non-negotiable.

A harder reading holds that every customer Google Cloud can’t serve next year represents business that may go elsewhere. Without a figure from Pichai, the market has no way to separate a modest trade-off at Alphabet from a meaningful one. Uncertainty of that kind can weigh on a stock until management clarifies it, and Pichai’s comments offered no timeline for doing so.

Alphabet’s Next Report Becomes the Cloud Capacity Test Pichai’s remarks put the cost of the capacity trade-off in front of investors ahead of Alphabet’s upcoming Q3 2026 report, which turns it into a referendum on Google Cloud. What matters now is whether that report shows how much cloud revenue the trade-off is costing.

Pichai hasn’t specifically said when added capacity will reach outside Google Cloud customers. Hence, investors considering GOOGL stock exposure should adjust their holdings carefully.

Contact [email protected] for any questions or corrections.

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Amazon's expanded fresh food delivery is helping it win market share from more traditional retailers. : Deb Cohn-Orbach/UCG/Universal Images Group via Getty Images Amazon is gaining ground in grocery thanks to items like fresh shrimp and berries.

Roughly a year after expanding same-day fresh grocery delivery to thousands of cities and towns in the US, Amazon's perishable grocery sales are booming — and taking market share from traditional retailers, according to data from market research firm Nielsen IQ.

Sales of groceries such as seafood, dairy, and produce on Amazon increased severalfold between June and August, per Nielsen IQ's data. Amazon also posted market share gains in the food category for the year through late August as traditional grocery stores lost it, Nielsen found.

Amazon gained market share in food sales, both overall and online, as rivals such as grocery stores lost it.  Nielsen IQ "Shoppers are increasingly embracing Amazon for categories that historically represented one of the largest barriers to online grocery adoption," Nielsen wrote in its report.

Amazon has spent years trying to break into grocery, though it hasn't hit a home run in the category as it did with books or cloud computing. The company acquired Whole Foods, opened and shuttered another brick-and-mortar grocery chain, and created a selection of private-label groceries, among other steps.

The Nielsen IQ data suggest that Amazon's latest push — toward delivering fresh groceries quickly across much of the US — is yielding some results in the competitive grocery space.

Many of the shoppers buying fresh foods on Amazon come from households with incomes over $100,000 and tend to be older, according to Nielsen IQ. They also tend to be frequent Amazon users, placing more orders and spending more money on the platform than an average user.

That means fresh groceries, one of the most frequent purchases for US households, are "a potentially important lever for increasing shopper frequency and overall spend" on Amazon, the report reads.

To keep the momentum going, Amazon will need to take on formidable rivals. One is Walmart, which already uses its stores and its own army of gig workers to deliver groceries same-day.

Amazon is considering opening about 1,000 same-day fulfillment centers around the US by 2031, Business Insider reported in September. That move would create the same sort of advantage that Walmart has by placing more fulfillment centers close to more customers, one analyst said.

Do you have a story idea about Amazon's retail operations? Contact this reporter at [email protected] or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

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Alex Bitter You're currently following this author! Click to unsubscribe from email alerts.

Alex Bitter is a senior retail reporter covering Uber, Lyft, DoorDash, Instacart, and related companies. His coverage ranges from the experiences of gig workers to what's happening inside the world's biggest ride-hailing and delivery companies.Alex has also written about the retail and food industries. Convenience store chain Sheetz ended its "smile policy" after his reporting. Alex lives in the Washington, DC, area, where you can find him studying ancient coins or searching for Civil War artifacts with his metal detector in his free time.Got a tip? Reach out at [email protected] or via encrypted messaging app Signal at +1 (808) 854-4501.

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The market expects Microsoft (MSFT - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis software maker is expected to post quarterly earnings of $4.71 per share in its upcoming report, which represents a year-over-year change of +14%.

Revenues are expected to be $90.59 billion, up 16.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.35% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Microsoft?For Microsoft, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.29%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Microsoft will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Microsoft would post earnings of $4.21 per share when it actually produced earnings of $4.74, delivering a surprise of +12.59%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Microsoft appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Computer - Software industry, Manhattan Associates (MANH - Free Report) , is soon expected to post earnings of $1.46 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +7.4%. This quarter's revenue is expected to be $296.82 million, up 7.6% from the year-ago quarter.

The consensus EPS estimate for Manhattan Associates has been revised 0.3% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +1.65%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Manhattan Associates will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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"I wouldn't over-rotate on what I would call one carrier of low band spectrum," John Stankey said Wednesday, referring to Elon Musk's Starlink.

Win McNamee/Getty Images (Musk); Lluis Gene/AFP via Getty Images (Stankey)

Elon Musk wants SpaceX to become a major US mobile carrier. AT&T CEO John Stankey says: not so fast.

AT&T has an advantage from years of investment in dense urban and suburban areas, he said on AT&T's third-quarter earnings call, a day after Musk and SpaceX chief operating officer Gwynne Shotwell reported more than 22 million monthly Starlink Mobile users.

"Our competitors cannot and will not match our operating proficiency, network performance, or exceptional converged value proposition," Stankey said.

Stankey sees a use case for satellite-based internet to soften the edges of fiber-connected and 5G networks, especially in places where it's too expensive to build out the physical infrastructure, he said.

"I think LEO constellations are fantastic for delivering bandwidth to rural areas," he said, using the acronym for low-Earth orbit satellite arrays.

Shotwell said Tuesday that Starlink recently got FCC approval to launch 15,000 V2 satellites. She also noted a recent agreement to acquire a portfolio of low-band transmission spectrum, or wireless frequency licenses, which better penetrate buildings to reach indoor devices.

Stankey was unimpressed.

"How you perform indoors, of course, is extremely important, and we shouldn't think about those as being nominal loads," he said. "They're significant loads, even with robust Wi-Fi networks that are out there."

This is especially critical in crowded environments like stadiums and hospitals, where he said AT&T has been focused on beefing up signal support.

"I wouldn't over-rotate on what I would call one carrier of low band spectrum," he said, referring to Starlink.

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Dominick Reuter

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Dominick Reuter is a senior retail reporter for Business Insider, primarily covering Walmart, Target, Costco, and other big box retailers. His stories tend to focus on issues and trends that affect employees and customers, such as affordability challenges and the growing race to provide ultra-fast delivery services on e-commerce orders.Prior to joining BI in 2019, Dominick worked for more than a decade as an independent photojournalist covering a wide range of stories for global wire services and newspapers, including Reuters, the Wall Street Journal, and Agence France-Presse.Dominick studied photojournalism at Boston University and later earned a Masters in business and economics journalism from Columbia University.If you're an employee or customer with a story to share, please contact me via email or text/call/Signal at 646-768-4750.

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Wall Street expects a year-over-year decline in earnings on lower revenues when Ford Motor Company (F - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -13.3%.

Revenues are expected to be $45.67 billion, down 3.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 8.81% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Ford Motor?For Ford Motor, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.34%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Ford Motor will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Ford Motor would post earnings of $0.33 per share when it actually produced earnings of $0.42, delivering a surprise of +27.27%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Ford Motor appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAnother stock from the Zacks Automotive - Domestic industry, Paccar (PCAR - Free Report) , is soon expected to post earnings of $1.61 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +43.8%. Revenues for the quarter are expected to be $7.56 billion, up 23.9% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Paccar has been revised 0.1% down to the current level. Nevertheless, the company now has an Earnings ESP of +1.04%, reflecting a higher Most Accurate Estimate.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Paccar will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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INTC earnings hedge via puts

Buy 1–3 month INTC put options (or put spreads) into next week’s earnings. The setup is “distribution/markdown” plus a near-term catalyst. If the market treats earnings as “good but not enough” (or guides conservatively), puts monetize the likely volatility and downside continuation toward $80 then $65.

Key Risk: Intel delivers a clear upside beat with aggressive guidance that triggers a sustained rally above $80.

INTC short to $80/$65

Sell Intel (INTC). The article flags a Wyckoff shift from distribution to markdown, with a bearish breakout risk toward the 50% Fib near $80, and if it breaks, a move toward the 61.8% Fib around $65. Even with improving revenue, the tape setup points to more downside before earnings can stabilize sentiment.

Key Risk: Intel’s earnings surprise is strong enough to flip the chart back to accumulation (stock reclaims $80 and holds).

Intel stock has pulled back into a bear market as investors dump high-flying artificial intelligence (AI) companies. The shares have slumped 34% from their all-time high, with the company’s market capitalization falling from $707 billion to $493 billion. According to the Wyckoff Method, the stock could drop further.

One way of understanding the recent Intel price action is known as the Wyckoff Theory. This theory suggests that assets go through four different stages: accumulation, markup, distribution, and markdown. 

In Intel’s case, the chart below shows that the stock remained in the accumulation phase for years. In this period, it formed a shallow cup-and-handle pattern between December 2023 and January this year. A C&H pattern normally leads to more upside over time. 

The stock then surged and moved to the markup phase. This price action coincided with the rescue by the US government and Nvidia, which has now become its biggest shareholder. It also coincided with the surge in companies in the artificial intelligence boom.

Recently, however, there are signs that the stock has moved to the distribution phase. This distribution is then followed by the markdown stage, which is characterized by panic selling among investors. 

Therefore, the stock will likely have a bearish breakout, potentially to the 50% Fibonacci Retracement level of $80. A drop below that level will point to more downside towards the 61.8% retracement at $65. 

INTC chart | Source: TradingView

INTC stock has dropped in the past few months as investors have remained concerned about the artificial intelligence bubble. Citadel’s Ken Griffin and Ray Dalio have all warned that the AI bubble may burst as soon as this year as interest rates remain at an elevated level.

The next important catalyst for the INTC stock will be next week’s earnings report, which is expected to show that its revenue growth continued. In its last report, Intel said that demand for its products was so strong that it was forced to sell lower-level ones. This growth will likely continue as the AI agent industry gains momentum.

The results showed that its revenue jumped by 25% in the second quarter to $16.1 billion, a strong comeback for a company that was on the verge of collapsing. Its client computing and physical AI group’s revenue jumped by 13% to $8.9 billion, while its data center and AI business made $6.3 billion, a 59% annual growth. 

Analysts expect the upcoming results to show that Intel’s revenue jumped by 20% to $16.47 billion. The most optimistic analyst expects the real figure to be $17 billion, which is possible based on the recent earnings by companies like Micron and Samsung.

Its profits are also expected to continue rising. Analysts see the EPS rising to $0.40, up sharply from $0.23 in the same period last year. For the year, the EPS is expected to come in at $1.53, up sharply from the 42 cents it made last year.

The main risk that Intel faces is a broader slowdown in the AI industry, which some analysts believe is a possibility. It is also facing substantial competition risk from Nvidia, which launched its CPU recently. 

Oracle's cloud backlog is surging past $664 billion while free cash flow sits deep in negative territory, and the CFO refused to name a date when that flips. Something has to give, and figuring out which side breaks first changes…

Oracle (NYSE:ORCL | ORCL Price Prediction) trades at $131.14. Its low multiple used to look like a bargain, but now it looks like a fair price for a company that has to borrow and issue stock to build its AI cloud.

Oracle sells databases, enterprise applications and, more and more, AI training and inference capacity. Cloud now makes up 60% of total revenue, up from 48% a year ago. The stock has fallen 52.08% over the past year and sits far below its 52-week high of $283.40.

A Cheap Multiple Attached to Triple-Digit Infrastructure Growth
Bulls point to the price. At about 16x the $8.10 non-GAAP EPS guide for this fiscal year, and roughly 12x the $10.9916 consensus for next year, Oracle costs less than many slower-growing software names. Its PEG ratio is 0.807.

The growth is real. Cloud infrastructure revenue rose 121% to $7.39 billion, and remaining performance obligations reached $664 billion. GPU use was 97.9%, and renewed capacity was repriced at a 20% premium to prior contracts. Analysts made 35 upward and 1 downward full-year EPS revisions over the past 30 days.

Negative Free Cash Flow Is Eating the Growth Story
Free cash flow was negative $5.4 billion last quarter, following negative $23.7 billion in fiscal 2026. Management still expects $90 billion to $95 billion in capex this year. Interest expense rose 55% to $1.4 billion. After completing a $20 billion equity sale, Oracle plans to raise about $40 billion more through debt and equity.

The chief financial officer declined to say when free cash flow turns positive: “We haven’t given a particular timeframe on that yet.” Gross margins are also expected to step down. A CNBC Fast Money panelist put it bluntly: “There are plenty of other ways to play this story with better balance sheets.”

Backlog Conversion Will Decide the Argument
Management expects around half of RPO to convert into sales over the next 36 months. Next quarter’s guide calls for revenue growth of 30% to 34% and EPS of $1.85 to $1.93. If Oracle hits those numbers and gives a free cash flow timeline, today’s price could prove too low. If margins slip or financing costs keep rose, it could still fall further.

Analysts Stay Bullish While Shares Trail the Market Badly
The average analyst target is $237.36, meaning about 81% upside. That figure comes from 43 analysts. Price targets are one data point, and none of them are guarantees:

Strong Buy: 7
Buy: 28
Hold: 7
Sell: 1

Oracle is down 31.85% year to date, while the S&P 500 is up 12.78%. Over the past month, Oracle fell 10.88% as the index gained 0.97%. Shares trade below both the 50-day ($144.77) and 200-day ($159.87) moving averages.

Oracle’s Valuation Hinges on Cash Flow Catching Up to the Backlog
At $131.14, Oracle’s risks outweigh its cheap multiple.

Oracle beat on growth and the stock still fell, which tells you investors now care more about funding than about bookings. Shares gave up an early post-earnings gain and ended the day down nearly 2% even after Oracle beat estimates. Downside could come within the next two quarters from more dilution, rising interest costs and lower near-term estimates. Analysts already made 23 downward revisions to the February-quarter EPS estimate in 30 days.

A firm free cash flow timeline, or proof that operating margins are expanding as capacity increases, would change this view. Until one of those shows up, the low multiple reflects real balance sheet risk.

A low multiple only pays off if the cash eventually reaches shareholders, and Oracle has yet to show when that happens.

Contact [email protected] for any questions or corrections.

Micron Technology MU shares rose on Wednesday as strong results from SpaceX and an upbeat outlook from Super Micro Computer helped revive investor interest in artificial intelligence-related stocks, offering some relief after a difficult month for the memory chipmaker.

Micron shares gained around 2% during Wednesday's trading.

The stock had fallen 16% in October through Tuesday's close and was down 26% from its June peak, despite more than tripling in value this year.

Super Micro raised its fiscal first-quarter revenue guidance to between $18.5 billion and $19.5 billion, from a previous range of $14.5 billion to $15.5 billion.

SpaceX also reported strong quarterly results and indicated plans to spend as much as $40 billion in the fourth quarter.

The developments helped ease concerns about the sustainability of AI spending, although investors remain focused on memory demand, pricing, supply growth and financing risks across the sector.

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Micron’s AI-linked memory outlook is back in focus after volatility.

51% of retail investor accounts lose money when trading CFDs with this provider.

AI demand and memory pricing remain key driversMicron's recent share-price weakness reflects broader concerns about whether the rapid expansion of AI infrastructure can be sustained.

Analysts have warned that memory manufacturers could face pressure if demand slows, as lower purchasing volumes could also weaken pricing.

Wedbush analyst Matt Bryson told MarketWatch that memory is more exposed to a slowdown than some other components because weaker demand can affect both volumes and prices.

Memory manufacturers have benefited from strong demand that has supported higher prices, but customers may become less willing to pay those prices if market conditions deteriorate.

However, Bryson said he saw no clear signs of slowing demand, although he expected the memory trade to remain volatile.

He also noted that the expansion of AI applications would require additional memory capacity to support computing workloads.

Stifel analyst Brian Chin told MarketWatch that concerns about a potential downturn in memory demand might be premature.

While some investors are focused on a possible negative shift within two quarters, Chin suggested that strong market conditions could persist for another two to three years.

Micron's valuation has become another point of discussion during the recent pullback. Chin estimated that the stock was trading at around five times his forecast forward earnings per share, but he was sceptical that investors would assign the company a higher valuation multiple.

He argued that the relatively low valuation could provide some downside protection if earnings continued to increase gradually.

Ryuta Makino, an analyst at Gabelli Funds, told MarketWatch that Micron compared favourably with storage stocks on valuation.

However, he also warned that mounting debt across the AI ecosystem could weigh on the company.

Some AI laboratories and newer cloud providers are experiencing negative free cash flow, while rising memory prices are increasing data-centre server costs.

Makino said this could intensify financing risks, even as he expected memory supply and demand conditions to tighten further into 2027 and 2028.

Supply growth is another consideration.

Micron and its competitors have plans to expand capacity, potentially putting pressure on memory prices if production increases too quickly.

Chin said difficulties faced by semiconductor equipment makers in ramping up chip-fabrication tools could constrain the pace of additional supply.

Separately, Micron's Taiwan unit and a union representing workers at its Taichung operations reached a labour agreement, prompting both sides to withdraw from mediation scheduled for October 22.

The agreement covers several issues, but its terms have not been disclosed.

The company and union said they would share details with affected employees in the coming days.

The development comes as a separate union representing workers at Micron's Taoyuan operations plans a one-day warning strike on Wednesday over bonuses and profit-sharing.

Mediation between the company and that union ended without an agreement in September.

Both unions have sought a permanent profit-sharing scheme that would allocate 15% of Micron's operating profit to quarterly bonuses.

The company employs approximately 15,000 people in Taiwan, where it produces memory chips used in AI servers and other devices.

Nearly 3.5-acre solar array advances the resort's broader sustainability and energy-efficiency strategy

, /PRNewswire/ -- As organizations around the world observe World Energy Saving Day on October 21, Gaylord National Resort & Convention Center is celebrating a major sustainability milestone with the full activation of a rooftop solar installation spanning approximately 3.5 acres atop the resort's convention center. Featuring 4,696 solar panels, the array is projected to generate nearly 3.4 million kilowatt-hours of renewable electricity annually and represents a significant investment in the resort's long-term sustainability and energy strategy.

Gaylord National Resort & Convention Center Solar Installation B-Roll

Gaylord National Resort & Convention Center Solar Installation images

Gaylord National Resort & Convention Center Solar Installation images

The solar array is expected to supply up to 20 percent of the resort's electrical load during peak production periods and offset up to 50 percent of the electricity purchased from the local utility. Combined with the resort's existing combined heat and power system (Cogen) and advanced building-efficiency technologies, the solar installation strengthens an integrated energy strategy designed to increase on-site generation, reduce emissions and decrease reliance on grid-supplied electricity.

The solar project marks another investment by Ryman Hospitality Properties, Inc., owner of Gaylord National Resort and Convention Center, in the resort's long-term future. Operated by Marriott International, the solar grid also supports Marriott International's broader sustainability goals through the initiative.

"This project is an important example of how we are partnering with Marriott International to invest in initiatives that support our shared conservation goals and create long-term value for our shareholders," said Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties. "With this project complete, we're reducing demand on the local power grid while improving operational efficiency and strengthening the resort's climate resiliency for years to come."

Activated in June 2026, the solar array has generated approximately 495,316 kilowatt-hours of renewable electricity to date, equivalent to powering approximately 48 average U.S. households for one year, while avoiding an estimated 333 metric tons of carbon dioxide emissions.

With the system's inverters operational, the array is projected to avoid an estimated 2,285 metric tons of carbon dioxide emissions annually and generate enough renewable electricity to power approximately 331 average U.S. homes, based on U.S. Environmental Protection Agency methodology.

Gaylord National partnered with REV Energy Ventures to develop and implement the solar project.

"Gaylord National's solar project demonstrates how large hospitality properties can integrate renewable energy while maintaining seamless operations," said Jeff Bedard, founder and CEO of REV Energy Ventures. "The project's scale highlights the role on-site renewable energy can play in supporting both operational efficiency and sustainability goals."

The new solar installation builds upon an energy-efficiency strategy already in place across the resort. Since 2018, Gaylord National's on-site Cogen system has generated electricity while repurposing waste energy for heating, helping meet more than 75 percent of the resort's energy needs and significantly reducing greenhouse gas emissions.

"The addition of solar power strengthens the foundation we have established through our Cogen system and other efficiency investments," said Derek Brauner, director of engineering at Gaylord National Resort and Convention Center. "By generating electricity on-site, capturing thermal energy that would otherwise be wasted and continuously monitoring our building systems, we are able to operate more efficiently. The solar array is another important component of a broader resort-wide strategy focused on energy efficiency, resource conservation and long-term sustainability."

Beyond its environmental benefits, this dual approach helps strengthen long-term energy resilience by providing greater control over operating costs and supporting reliable energy production for a destination that serves a large volume of guests, meeting attendees and convention visitors each year. Together, the Cogen and solar systems are foundational elements of Gaylord National's broader sustainability strategy, helping the resort reduce its environmental impact while supporting efficient, reliable operations for years to come.

The initiative builds on Gaylord National's broader sustainability efforts focused on energy efficiency, waste reduction, resource conservation and community impact.

The resort partners with the Food Recovery Network to donate surplus prepared food, contributing more than 115,000 pounds of donated food to date and helping provide approximately 30,000 meals annually to local hunger-fighting organizations.

Additional initiatives include energy-saving building technologies, continuous operational monitoring, rooftop beehives, an on-site herb garden and a commitment to local and sustainable sourcing.

The resort also supports waste-reduction efforts through single-stream recycling, paperless billing, the elimination of single-use toiletry bottles and the recycling of up to 170,000 pounds of cardboard each month.

About Gaylord National Resort and Convention Center

Gaylord National Resort & Convention Center is the largest non-gaming hotel and convention center on the East Coast. Located along the banks of the Potomac River in National Harbor, Maryland, the resort is part of Marriott International's portfolio and is owned by Ryman Hospitality Properties, Inc. Opened in April 2008, Gaylord National is an AAA Four Diamond resort located eight miles from Washington, D.C. The resort offers nearly 2,000 guest rooms, including 110 suites; a 19-story garden atrium; 600,000 square feet of indoor and outdoor meeting space; and a variety of restaurants and lounges, including Old Hickory Steakhouse, Harbor Social and Lookout 18 Rooftop Lounge.

About Ryman Hospitality Properties, Inc. 

Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in group-oriented, upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the Grande Lakes Orlando Resort, the JW Marriott Phoenix Desert Ridge Resort & Spa and the JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to the Company's Gaylord Hotels properties. The Company's hotel portfolio is managed by Marriott International and includes a combined total of 13,956 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG), which is composed of entities owning a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium; WSM 650 AM; Ole Red; Category 10; Nashville-area attractions; and Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at the Moody Theater, located in downtown Austin, Texas. OEG manages select outdoor live music venues, including Ascend Federal Credit Union Amphitheater in Nashville and CCNB Amphitheatre in Simpsonville, South Carolina. OEG also owns a majority interest in Southern Entertainment, a leading festival and events business. RHP operates OEG as its Entertainment segment in a taxable REIT subsidiary, and its results are consolidated in the Company's financial results.

Media Contact
Nisha Stephens
Public Relations Manager, Gaylord National Resort
[email protected]
Press Kit

SOURCE Gaylord National Resort