Evropské akcie budou dle futures kontraktů ve čtvrtek ráno otvírat se ztrátami do -0,5 %, zatímco zámoří aktuálně ztrácí -0,2 %. Investoři sledují ceny ropy, Brent se obchoduje na 96 USD a je tak nejvýše od přelomu květen/červen. Na Blízkém východě pokračuje napětí, tankery v Rudém moři jsou terčem Íránem podporovaných Hútíjů. Diplomatické úsilí o ukončení konfliktu se tak fakticky zastavilo a růst cen energií zatěžuje vyhlídky na inflaci. V prodlouženém obchodování v USA včera klesly akcie Alphabet (-3 %), když investoři vyjádřili obavy z vyšších kapitálových výdajů příští rok (cca +15 mld. USD proti odhadům). Po výsledcích se nedařilo ani akciím Tesla. Na druhou stranu vyšší výdaje vyhovují např. čipovým firmám, Asie tak těžila z růstu Samsungu či SK Hynix. V Evropě dnes zasedá ECB, pohyb sazeb se nečeká, trh však čeká pohyb vzhůru na zářijovém zasedání. Kvartální výsledky bank BNP či Unicredit vypadají silně. Praha po včerejším růstu (PX +1,5 %) by mohla spíše předvést smíšený vývoj. Vybírání zisků by mohlo převažovat na bankách.
In June, the initial public offering (IPO) of Space Exploration Technologies (SPCX -6.66%) turned what seemed like a simple IPO into a reminder of how rule changes can reshape your portfolio. If you own an index fund, your portfolio may have been affected by new rules surrounding the IPO, even if you don't own SpaceX.
It all depends on which index funds you hold.
Image source: Getty Images.
What happened Whenever a company is added to a major index, every fund that tracks that index must buy it to stay in line with the benchmark, regardless of price. And that's precisely what happened as the Nasdaq-100 and Russell 1000 each changed their rules to fast-track the inclusion of SpaceX and other major IPOs that are expected this year.
S&P Dow Jones Indices, which maintains the S&P 500, chose not to change its rules, but index funds that follow the Nasdaq-100 and Russell 1000 had to make room for SpaceX by selling a sliver of every existing security or asset. As fund managers worked to remain aligned with their indexes, giants like Apple, Microsoft, and Nvidia were trimmed. The results have been subtle but represent a very real shift in the risk and sector weights for millions of investors' portfolios.
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The way both Nasdaq and Russell changed their rules to allow the mega IPO to enter sooner than usual -- rather than wait months or years for inclusion -- is what makes this moment stand out. The move concentrates a bundle of forced buying into a short window, quickly turning passive strategies into an active bet on a single, high-profile listing.
The potential implications SpaceX's share price to date has been volatile, but that doesn't mean losses are inevitable. The fact that some of the world's largest financial firms and venture capitalists are betting on it may enhance the company's resilience to economic downturns and market fluctuations, making it a stable investment with plenty of room to grow. In other words, those who own an index fund or ETF that includes SpaceX could see their portfolios grow enough to more than offset the trimming of other market giants.
S&P's decision not to change its rules could lead to missed gains if SpaceX appreciates dramatically. On the other hand, it might just protect them from loss. Only time will tell.
In the meantime, SpaceX's debut serves as a reminder that high-profile IPOs don't just affect the new stock. They also alter every portfolio holding an index that welcomes them.
Dana George has positions in Apple. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Record Q2 Deliveries: Achieved record deliveries globally with sequential growth in the Americas (60%), APAC (27%), and EMEA (12%).Model Y Performance: Set rec
Sundar Pichai said AI-powered tools are driving Google searches. Sergei GAPON / AFP via Getty Images Google says its search function is not dead, it's thriving.
In a Wednesday earnings call, Alphabet CEO Sundar Pichai said Google's AI-powered features, such as AI Overviews and AI mode, were driving growth in search queries.
Pichai said he saw this in full effect during the FIFA World Cup that started in June and wrapped up on Sunday.
"As a big football fan, I was particularly excited to see search usage hit an all-time high during the World Cup this year," he said. "This really highlights how much people turn to Google in moments that matter."
He said Google's AI-powered search function, AI Mode, has surpassed a billion monthly active users since it was expanded globally last October. The tool is driving an "incremental increase in search queries overall," and is allowing Google to "send billions of clicks to websites every week through AI features in Search," he said.
Pichai added during the earnings call that Google saw 17% revenue growth in search driven by these tools, and that the company will continue to make search more "helpful and intuitive."
Search is one of Google's largest cash cows. It was the third-highest revenue-producing product in Alphabet's latest quarter earnings, edged out only by advertising and Google Services.
The company on Wednesday reported its latest quarter earnings of $119.8 billion, up 24% from a year earlier. Its stock was down 1.24% at market close.
The tech executive's comments contradict the fears many publishers had when Google began integrating AI more aggressively into its search engine.
Many media companies and publishers reported their traffic dropping as users are increasingly becoming satisfied with AI answers, which are scraped from traditional websites without linking back to their sources.
Read next
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Microsoft is upgraded from Hold to Buy after a significant pullback, improving risk-reward and making valuations more attractive. MSFT's CapEx surge—expected to exceed $40B in Q4 and $190B for the year—remains the central tension but is justified by robust Azure and AI-driven growth. Azure's 39–40% growth and a massive backlog are critical to converting CapEx into future revenue, supporting the long-term rerating thesis toward $500.
SummaryAMD remains a compelling buy, with a new base case price target of $671 (21% upside) and a bullish scenario at $807.87 (45% upside).AMD's flexible, customizable AI infrastructure—spanning GPUs, CPUs, DPUs, networking, and rack-scale systems—positions it as a strong alternative to Nvidia, especially for hyperscalers seeking to avoid vendor lock-in.Rising analyst expectations reflect robust AI-driven growth: Q2 revenue consensus at $11.3B (+47% YoY), EPS at $1.61 (+235% YoY), and EBITDA/FCF estimates up 22–28%.Key risks include competition from Nvidia's integrated platform, custom ASICs, supply chain execution for Helios, and cyclicality in consumer AI-PC markets.Looking for more investing ideas like this one? Get them exclusively at The Aerospace Forum. Learn More » Tim Robberts/DigitalVision via Getty Images
In my prior report on AMD (AMD), I detailed why I believe a compute-for-equity setup seemingly is dilutive but is a strategic masterstroke preserving long-term pricing power in exchange for equity. I provided
24.33K Followers
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
AMD (AMD +1.48%) is making excellent progress in gaining market share in the data center industry.
*Stock prices used were the afternoon prices of July 20, 2026. The video was published on July 22, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices. The Motley Fool has a disclosure policy.Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
On Aug. 4, Advanced Micro Devices (AMD +1.48%) will announce its second-quarter earnings results. Management has guided for revenue in the range of $10.9 billion to $11.5 billion.
That earnings report is coming at a time when companies in the artificial intelligence (AI) space have experienced a sell-off, but those stocks are showing signs of a rebound. A strong earnings report from AMD could both boost its stock price and further fuel the broader sector's rally.
AMD is already trading well above $500 per share. If the stock price keeps rising, shareholders may wonder if a stock split could be on the table.
Image source: The Motley Fool.
The unlikelihood of an AMD stock split in 2026 The last time AMD split its stock was in 2000, when it conducted a 2-for-1 split, so history doesn't offer much of a road map for how management will respond to its current situation. However, the information we have suggests that a stock split is unlikely anytime soon, even if the chipmaker reports monster earnings on Aug. 4.
Stock splits involve legal fees and require additional work through shareholder communication -- expenses a company may prefer to avoid if possible.
In addition, tech companies with stock prices well above AMD's, including Sandisk (around $1,600) and Micron Technologies (around $960), have yet to split their stocks this year. Granted, that's a small sample size, but it shows that even with where their respective stock prices are trading, those chip companies aren't feeling pressured to conduct splits.
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Focusing on the upcoming quarterly results Since investors can't control whether or when a management team splits a stock, the focus on AMD should be around long-term demand for its wares, its efficiency, and its revenue. AMD's updates on Aug. 4 will show whether demand from hyperscalers remains strong and whether gross margins are healthy, and offer some indications about the pace at which its revenue will keep climbing.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Micron Technology. The Motley Fool has a disclosure policy.
Nokia reported a bigger than expected rise in its quarterly comparable operating profit on Thursday, as the Finnish telecom gear maker got a boost from artificial intelligence and cloud customers.
The company said it continues to capitalize on surging demand from AI and data-center customers, as supply constraints push clients to place longer-term orders.
VELIZY-VILLACOUBLAY, France--(BUSINESS WIRE)-- #3DEXPERIENCE--Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced it has set a new net-zero science-based emissions reduction target for 2050, validated by the Science Based Targets initiative. The commitment builds on the successful achievement of its first SBTi targets ahead of their 2027 deadline, as the company continues on its path to meaningful climate impact. For its overall net-zero target, Dassault Systèmes commits to achieve net-zer.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GEV over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
New, more centrally located facility will expand programs, gathering spaces and recreation opportunities for Mahahual families, children and residents
, /PRNewswire/ -- Royal Caribbean today confirmed plans to advance the development of the new Mahahual K'iin Community Center, marking an important next step in creating a larger, more accessible home for programs and activities that enrich the lives of families, children and residents across Mahahual.
Aerial rendering of the future Mahahual K’iin Community Center, a new gathering space designed to serve residents of Mahahual, Mexico.
Rendering of the basketball court at the future Mahahual K’iin Community Center.
Rendering of the soccer field at the future Mahahual K’iin Community Center.
Rendering of the central courtyard at the future Mahahual K’iin Community Center, envisioned as a welcoming space for community connection and events.
The new center builds on a community space that has served Mahahual since 2014, with expanded capacity for education, recreation, cultural programming and local gatherings in a location designed to be easier for more residents to access. Its new name, Mahahual K'iin — meaning "the sun of Mahahual" — was proposed and selected through a community vote and reflects its role as a welcoming place rooted in local pride and connection.
"Mahahual is an important community for Royal Caribbean, and the Mahahual K'iin Community Center reflects the long-term partnership we want to continue building here," said Jason Liberty, Chairman and CEO, Royal Caribbean Group. "This next phase is about turning commitment into action by creating a welcoming place where children can learn, families can gather and neighbors can connect."
Located along the Carretera Cafetal-Mahahual at the heart of town, the future center is envisioned with modern, flexible spaces for workshops, education and community-led events, plus outdoor recreation areas anchored by a new soccer pitch for youth programs, friendly matches and community gatherings, alongside versatile basketball and volleyball courts. As part of its long-term commitment to the community, the company plans to begin construction once the necessary permits and approvals for the Community Center have been obtained.
"The Mahahual K'iin Community Center is the result of the strength, participation and dreams of our community," said Senaida Gómez, director of the Mahahual K'iin Community Center. "This new phase will allow us to expand our impact, strengthen our programs and create safe spaces for children, young people and families. We will continue working to ensure this center is a place of gathering, growth and well-being for everyone."
Since opening its doors, the center has hosted workshops, engaged volunteers and supported children and families through programs that promote learning, creativity, wellness and community connection. The new center will expand that impact with more space, improved access and additional opportunities for residents to learn, connect and grow.
The project is part of Royal Caribbean's ongoing commitment as owner and operator of the Port of Costa Maya to support practical initiatives that strengthen daily life in Mahahual. The company will continue working with residents, community leaders and local authorities on investments that support community well-being, environmental care and local opportunity.
To learn more about Royal Caribbean's work in Mahahual, visit www.RoyalCaribbeanMahahual.com or to learn more about the Community Center's activities, visit: Mahahual K'iin Community Center's Facebook page.
WASHINGTON--(BUSINESS WIRE)---- $HPE #GenesisMission--HPE (NYSE: HPE) today announced it has been selected to participate in multiple key research and development (R&D) projects in the first phase of the U.S. Department of Energy's Genesis Mission. The awarded projects focus on advancing AI innovation and scientific discovery across AI model application, performance optimization, networking, cybersecurity, and water availability. In addition to contributing to critical R&D, HPE is delivering some of the world's.
ST. LOUIS--(BUSINESS WIRE)--World Wide Technology (WWT), a global technology solutions provider, today announced it has earned two significant recognitions from Cisco, including being named a Cisco Global Partner and unlocking the Cisco Secure Networking Specialization in the United States. WWT is one of only six partners worldwide to become a Cisco Global Partner and is among the first in the US to achieve the Secure Networking Specialization, underscoring the company's continued investment in.
Unlimited Plus Premium includes unlimited premium high-speed data, 50 GB high-speed mobile hotspot data, and video streaming up to 4K UHD for maximum connectivity and entertainment. Customers receive built-in savings with up to $10/month phone financing credit (up to $360 value towards a new phone) and an included smartwatch data plan (up to $10 monthly value), plus Anytime Upgrade. Enhanced global connectivity is included, with free international roaming for calls and texts, and 20 GB per month of high-speed data in over 215 countries and destinations. , /PRNewswire/ -- Ready for wireless that does more? The new Unlimited Plus Premium plan from Spectrum Mobile brings residential customers a powerful mix of premium features and built-in savings. The new top-tier plan delivers the most comprehensive suite of benefits across Spectrum Mobile, designed for those who want the best in wireless connectivity and value.
Spectrum Mobile Unlimited Plus Premium with Built-In Savings and Exclusive Features (Source: Spectrum) "Unlimited Plus Premium is our most flexible and feature-rich plan yet," said Danny Bowman, Executive Vice President, Product. "It delivers premium connectivity, savings and exclusive benefits, meeting the needs of customers who expect even more from their mobile experience."
The new plan offers several exclusive features:
50 GB of high-speed mobile hotspot data - five times more than Unlimited Plus. Ideal for streaming, gaming, remote work, travel and multi-device households. Video streaming up to 4K UHD on cellular, letting customers enjoy their favorite content in full 4K detail when away from WiFi. Built-in savings with up to $10 per month credit for financed Spectrum Mobile phones (up to a $360 value). Included smartwatch service for one eligible paired smartwatch, a $10 monthly value. Enhanced global connectivity with free international roaming with calls and texts, and 20 GB of high-speed data per month in more than 215 countries and destinations, including Canada and Mexico. Unlimited Plus Premium also includes all the benefits of Spectrum Mobile's current plans: unlimited high-speed data, unlimited talk, text and WiFi calling, straightforward pricing, coast-to-coast 5G coverage, and access to Speed Boost when connected to the Spectrum Mobile Network's approximately 45 million secure WiFi access points nationwide. As with Unlimited Plus, customers who signed up for Unlimited Plus Premium also have access to Anytime Upgrade, allowing them to upgrade their phone without traditional wait times.
Unlimited Plus Premium is available to residential customers for $50 per month per line (multi-line) or $60 per month (single-line) with no contracts, added taxes or hidden fees.
More information about Spectrum Mobile Unlimited Plus Premium is available at www.spectrum.com/mobile.
About Spectrum
Spectrum is a suite of advanced communications services offered by Charter Communications, Inc. (NASDAQ: CHTR), a leading broadband connectivity company available to nearly 59 million homes and small to large businesses across 41 states. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.
More information can be found at corporate.charter.com.
The geopolitical conflict in the Middle East isn't good news for the world. Not only is there destruction and loss of life, but the energy market isn't functioning normally. Oil and natural gas are commodities, so reduced supply leads to higher prices. You are already seeing the impact at the gas pump, but high energy prices will eventually raise the prices of other products, too.
Here's what you need to know about what's happening and why companies like ExxonMobil (XOM +1.81%) and Chevron (CVX +1.00%) are likely to be the best energy investment options for most investors.
Image source: Getty Images.
This isn't a new development Energy prices had been heading lower after Iran and the United States agreed to negotiate. However, those talks didn't work out as well as hoped, highlighted by U.S. President Donald Trump's announcement that Iran's ports would again face a blockade. Oil prices surged, and the broader market fell on the news. Emotions and news flow are driving commodity and stock markets. This is entirely normal.
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In fact, the energy sector is well known for its volatility. Oil and natural gas prices are impacted by geopolitical conflict, economic activity, natural disasters, and supply and demand dynamics. The price swings can be large and shockingly fast. The current events in the Middle East are headline-grabbing, but just the latest example of the long-term trends you need to be ready to deal with if you own an energy stock.
This is why most investors should stick with large and well-diversified energy giants like Exxon and Chevron. Not only are they two of the world's largest energy companies, but their globally diverse and integrated businesses span the entire energy value chain. This diversification helps to soften the impact of commodity price swings. They are also financially strong businesses, with debt-to-equity ratios of around 0.2x and 0.25x, respectively. Those would be impressive numbers for any company.
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Meanwhile, Exxon and Chevron are also reliable dividend stocks, with yields of 2.7% and 3.7%, respectively. They have each increased their dividends annually for decades despite the energy sector's inherent volatility. This is important because it allows you to focus on dividend checks rather than oil prices during the inevitable periods of commodity volatility.
Don't "play" oil prices; invest in reliable energy businesses When investors see major world events, the temptation is to try to capitalize on them. When it comes to oil and natural gas, however, volatility is so normal that this is a very risky approach. Most investors will be better off accepting the volatility and adjusting their stock selection to account for it. Exxon and Chevron are proven survivors with great dividend track records and attractive yields. They are good through-the-cycle options for most investors in the energy patch, not just dividend lovers.
Oracle (ORCL -0.95%) is spending massive sums to build its AI infrastructure.
*Stock prices used were the afternoon prices of July 19, 2026. The video was published on July 21, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Oracle. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
Investing in dividend stocks is an excellent strategy for generating passive income.
*Stock prices used were the afternoon prices of July 19, 2026. The video was published on July 21, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends United Parcel Service. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
A White House official accused China's Moonshot of improperly using US AI models and Nvidia chips to create the Kimi K3. Here's what it means for tech and plans for a Trump-Xi summit.
Sales are booming, and the management team is building new manufacturing facilities to deal with the insatiable demand.
*Stock prices used were the afternoon prices of July 19, 2026. The video was published on July 21, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
ServiceNow, Inc. (NOW) Q2 2026 Earnings Call July 22, 2026 5:00 PM EDT
Company Participants
Darren Yip - Head of Investor Relations
William McDermott - Chairman & CEO
Gina Mastantuono - President & CFO
Amit Zavery - President, Chief Product Officer & COO
Conference Call Participants
Gabriela Borges - Goldman Sachs Group, Inc., Research Division
Michael Turrin - Wells Fargo Securities, LLC, Research Division
Tal Liani - BofA Securities, Research Division
Samik Chatterjee - JPMorgan Chase & Co, Research Division
Tyler Radke - Citigroup Inc., Research Division
Matthew Hedberg - RBC Capital Markets, Research Division
Samad Samana - Jefferies LLC, Research Division
Brad Zelnick - Deutsche Bank AG, Research Division
Keith Bachman - BMO Capital Markets Equity Research
Gregg Moskowitz - Mizuho Securities USA LLC, Research Division
Adam Wood - Morgan Stanley, Research Division
Presentation
Operator
Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the ServiceNow Second Quarter 2026 Earnings Conference Call. [Operator Instructions] We will now turn the conference over to Darren Yip, Senior Vice President, Investor Relations and Market Insights. Darren, please go ahead.
Darren Yip
Head of Investor Relations
Good afternoon, and thank you for joining ServiceNow's Second Quarter 2026 Earnings Conference Call. Joining me are Bill McDermott, our Chairman and Chief Executive Officer; Gina Mastantuono, our President and Chief Financial Officer; and Amit Zavery, President, Chief Product Officer and Chief Operating Officer.
During today's call, we will review our second quarter results and discuss our guidance for the third quarter and full year 2026. Before we get started, we want to emphasize that the information discussed on this call, including our guidance, is based on information as of today and contains forward-looking statements that involve risks, uncertainties and assumptions. We undertake no duty or obligation to update such statements as a result
ServiceNow, the U.S. enterprise software company known for automating workflows like IT service management and HR operations, is betting on an Indian banking software specialist to deepen its push into global financial services.
The company has invested $40 million in BusinessNext, valuing the 24-year-old Indian firm at $700 million and taking a roughly 5% stake. The deal gives BusinessNext access to ServiceNow’s global sales network as the companies expand their partnership in AI for financial services.
ServiceNow’s investment reflects BusinessNext’s growing profile beyond India. The profitable, Noida-based company, which generated about $32 million in revenue in its latest financial year, serves more than 70 banks across India, Southeast Asia, the Middle East, and the U.S. Its customers include the Reserve Bank of India, the country’s central bank, and State Bank of India and HDFC Bank, which are India’s largest public- and private-sector lenders, respectively.
About half of BusinessNext’s revenue comes from outside India, with overseas markets expected to drive much of its future growth, founder and CEO Nishant Singh said in an interview.
The company chose ServiceNow over potential financial investors to accelerate its expansion by tapping the U.S. software group’s global reach. Singh told TechCrunch that the partnership would help BusinessNext “borrow” its go-to-marker “machinery” — referring to ServiceNow’s sales infrastructure — in markets where it has a limited presence.
“Think of it as a strategic partnership, which is cemented with funding,” he said.
BusinessNext’s software, Singh said, manages customer-facing banking workflows, while ServiceNow is stronger in workflow automation and back-office systems, a combination the two companies plan to sell jointly to financial institutions.
“India’s financial services sector is at an inflection point — institutions are moving from digital experimentation to full-scale AI-led operations,” Kulmeet Bawa, ServiceNow’s group vice president and managing director for India and SAARC, said. He added that the partnership combines ServiceNow’s enterprise workflow platform with BusinessNext’s banking expertise.
Founded in 2002, BusinessNext — known as CRMNext until 2022 — has spent several years building what Singh calls an “autonomous banking” platform, using AI agents to automate banking workflows while keeping sensitive customer data on private AI infrastructure to meet regulatory and privacy requirements.
Singh told TechCrunch that AI was built into the company’s platform from the outset rather than added later. “We actually renamed our company and we kind of rewrote our stack to put that fundamentally at the core,” he said.
BusinessNext employs more than 1,300 people across its operations and was last valued at $181 million in 2021, per private market intelligence platform Tracxn. It has raised more than $60 million in external funding and counts Avataar Ventures, Norwest Venture Partners, and Ascent Capital among its existing investors.
The deal comes as established enterprise software vendors face pressure from customers who are questioning whether traditional SaaS tools are worth paying for when AI-native alternatives are emerging. For ServiceNow, the deal builds out its position in banking by partnering with a company focused on AI-driven banking software, as it expands its enterprise software portfolio through acquisitions, investments, and partnerships.
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
Jagmeet covers startups, tech policy-related updates, and all other major tech-centric developments from India for TechCrunch. He previously worked as a principal correspondent at NDTV.
You can contact or verify outreach from Jagmeet by emailing [email protected].
Před otevřením evropských akciových trhů futures naznačovaly převážně negativní náladu napříč hlavními burzami. Největší pokles vykazoval německý index DAX , jehož futures ztrácely 0,43 % na 25 163 bodů, což ukazovalo na slabší očekávaný start obchodování ve Frankfurtu.
Článek se odemkne 23.07.2026 9:36
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23.07.2026 8:36Výsledky dodaly Alphabet a Tesla, Evropa zahájí spíše negativně 8:26Prodej aut v EU v červnu stoupl o 13,6 procenta, dál posílili čínští výrobci 8:19Muskova automobilka Tesla zvýšila tržby o čtvrtinu, ale zisk jí klesl 22.07.2026 22:39Alphabet překonal odhady. Poptávka po AI je enormní, cloud vykázal více než 80procentní růst 22:01Akcie před výsledky technologických gigantů kolísaly, růst ropy zvýšil obavy z inflace 18:10Stát by mohl dát na burzu až 40 procent akcií pražského letiště v roce 2028, řekl Babiš 18:05A komu tím prospějete? 16:59Šéf Equinoru: EU zřejmě nesplní cíl pro naplnění zásobníků plynu před zimou 16:40Prezident Pavel vetoval spornou novelu rozpočtových zákonů 16:28Alphabet čeká klíčová zkouška. Investoři chtějí vidět návratnost investic do AI 16:27AMD investuje do firmy Anthropic až pět miliard dolarů, Antropic od AMD koupí čipy 15:01Moneta by měla pokračovat v růstu. Klíčovým tématem bude kapitál a výplata akcionářům 13:29Autonomní agent AI se při bezpečnostním testu vymkl kontrole, uvedla OpenAI 13:15Za Starmera vedl obranu, nyní bude Healey šéfem britské státní kasy. Investoři tak sází na vyšší výdaje na obranu 11:40Goldman Sachs hledá příležitosti mimo AI. Sází na spotřebu, finance i cestování 11:10Zatímco se čeká na Google, ropa poskočila výš a opatrnost se vrací 8:56Rozbřesk: O neudržitelnosti nízkých cen potravin v ČR 8:50Babiš otevřel debatu o cukrové dani. Trhy sledují také Írán, léky a energetiku 6:03Cena pojištění AI dluhu roste. Oracle se dostal na úrovně z finanční krize 21.07.2026 17:18Dobré ekonomické a investiční příběhy. Ale ve špatné době?
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Second-Quarter Organic Growth: 3.9% or $38 million, excluding Sprint cancellations and DISH terminations.Adjusted Funds From Operations (AFFO): Benefited from
The immersive experience, displayed at The Shops at the Oculus inside the Westfield World Trade Center, transforms financial market data into a dynamic visual journey, representing how T. Rowe Price active ETF portfolio managers discern meaningful signals amid market complexity
, /PRNewswire/ -- T. Rowe Price, a global asset management firm, today unveiled "Signals From the Noise," an immersive art installation on display at The Shops at the Oculus inside the Westfield World Trade Center, a major transit hub in Manhattan's financial district. The two-day display is designed to help financial advisors and investors see through the noise of the continuous flow of market data and visualize how T. Rowe Price active exchange traded funds use active management to create investment opportunities and help achieve financial goals.
T. Rowe Price's “Signals From the Noise,” an immersive art installation on display at The Shops at the Oculus inside the Westfield World Trade Center. Credit: World Trade Center | Port Authority of New York & New Jersey The large-scale public display1 reflects the investment approach behind T. Rowe Price active exchange traded funds (ETFs), where experienced portfolio managers perform fundamental investing as the firm has championed for nearly 90 years – combining rigorous research, market insights, and disciplined judgment to make investment decisions as markets rapidly evolve.
"Signals From the Noise," developed in collaboration with WIRED, is designed to represent how these professional investors make sense of the cacophony of information about financial markets as they actively seek to uncover attractive opportunities amid complexity. Using real market data as its foundation, the installation by artist and engineer Karyn Nakamura begins with thousands of individual particles moving in seemingly chaotic formations and patterns. As the experience evolves, those particles gradually organize into flowing structures, revealing hidden relationships and moments of color. This transformation illustrates how order can emerge through interpretation, serving as a visual metaphor for the work of T. Rowe Price active ETF portfolio managers, who analyze markets, identify opportunities, and help investors navigate uncertainty.
"Markets are constantly sending signals, but some are just distractions," said Kelly Fredrickson, Head of Global Brand and Public Relations at T. Rowe Price. "'Signals from the Noise' brings to life what active management is designed to do: combine rigorous research, experience, and disciplined judgment to identify the insights that can create opportunity. That's the value we strive to deliver to clients every day through our active ETFs."
The "Signals From the Noise" installation will be open to the public on July 22-23, inviting visitors to learn about T. Rowe Price active ETFs and the firm's research-driven approach to investing. Supporting the art installation, T. Rowe Price will also implement a range of marketing elements, including digital ads featured in major subway stations and near The Shops at the Oculus, online digital advertisements, and branded video and branded content with WIRED. Video elements of the initiative will also feature conversations with Jodi Love, lead portfolio manager of four active equity ETFs, and Dom Rizzo, portfolio manager of the T. Rowe Price Technology ETF.
Since 2020, T. Rowe Price has grown an expanding lineup of more than 30 active ETFs designed to meet investors' range of needs, spanning equity, multi-asset, and fixed income funds, as well as a range of sector, thematic, and international options. The total assets under management for the firm's active ETFs now surpasses $25 billion. Each ETF delivers key features associated with ETFs such as tax efficiency, more competitive expense ratios, and the flexibility to buy and sell shares throughout the trading day.
ABOUT T. ROWE PRICE
T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.89 trillion in client assets as of June 30, 2026, about two-thirds of which are retirement-related. Renowned for nearly 90 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amid evolving markets.
Visit troweprice.com/newsroom for news and public policy commentary.
ETFs are bought and sold at market prices, not net asset value (NAV). Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions which will reduce returns.
Revenue: Increased 10%, reaching a new quarterly record.Volume Growth: Increased 6% year over year.Operating Income: Increased by 17%.Operating Margin: Improve
Matthew Korn - Head of Investor Relations
Stephen Angel - CEO, President & Director
Michael Cory - Executive VP & COO
Kevin Boone - Executive VP & CFO
Maryclare Kenney - Senior VP & Chief Commercial Officer
Conference Call Participants
Stephanie Benjamin Moore - Jefferies LLC, Research Division
Christian Wetherbee - Wells Fargo Securities, LLC, Research Division
Scott Group - Wolfe Research, LLC
Brian Ossenbeck - JPMorgan Chase & Co, Research Division
Ken Hoexter - BofA Securities, Research Division
Jonathan Chappell - Evercore ISI Institutional Equities, Research Division
Thomas Wadewitz - UBS Investment Bank, Research Division
Brandon Oglenski - Barclays Bank PLC, Research Division
Walter Spracklin - RBC Capital Markets, Research Division
Ariel Rosa - Citigroup Inc., Research Division
Richa Talwar - Deutsche Bank AG, Research Division
Jason Seidl - TD Cowen, Research Division
Harrison Bauer - Susquehanna Financial Group, LLLP, Research Division
David Vernon - Bernstein Institutional Services LLC, Research Division
Bascome Majors - Susquehanna Financial Group, LLLP, Research Division
Presentation
Operator
Good afternoon, and welcome, everyone, to the CSX Corporation Second Quarter 2026 Earnings Conference Call. Today's conference is being recorded. [Operator Instructions]
At this time, I would like to turn the conference over to Matthew Korn, Head of Investor Relations and Corporate Communications. Please go ahead.
Matthew Korn
Head of Investor Relations
Thank you, Audra. Good afternoon, everyone. We are very pleased to have you join our second quarter 2026 earnings call. Joining me from the CSX leadership team are Steve Angel, President and Chief Executive Officer; Mike Cory, EVP and Chief Operating Officer; Kevin Boone, EVP and Chief Financial Officer, and Maryclare Kenney, Senior Vice President and Chief Commercial Officer.
In the presentation that accompanies this call, which is available on our website, you will find slides with our forward-looking and our non-GAAP disclosures. We encourage you to review them.
Prodej nových osobních automobilů v Evropské unii v červnu meziročně stoupl o 13,6 procenta na 1,148 milionu. Ve zprávě o registracích nových vozidel to dnes uvedlo Evropské sdružení výrobců automobilů (ACEA). Dál posílili čínští výrobci. Za celou první polovinu roku se prodej vozů zvýšil o 5,7 procenta na 5,897 milionu.
Zatímco prodej vozidel výhradně se spalovacím motorem se v červnu snížil, prodej bateriových elektromobilů (BEV) vzrostl o více než 60 procent na 270.557 kusů. Vyšší prodej zaznamenaly také hybridní vozy.
Podíl elektromobilů se do konce června vyšplhal na 20,7 procenta z 15,6 procenta ve stejném období loni. Registrace hybridních elektromobilů tvořily 37,3 procenta trhu a nadále zůstávají preferovanou volbou unijních spotřebitelů. Současně klesl celkový tržní podíl benzinových a naftových vozů na 29,7 procenta z 37,8 procenta v první polovině loňského roku.
Z největších automobilových trhů zaznamenalo větší růst Německo, kde se v červnu zaregistrovalo o 15,7 procenta více vozů. Ve Francii byl nárůst nižší, a to 11,4 procenta, a podobně tomu bylo v Itálii s 10,6 procenta. Ve Španělsku byl nárůst ještě nižší, v červnu činil 7,8 procenta.
Volkswagen si udržel pozici lídra trhu v celé EU, jeho prodej vzrostl o 7,3 procenta na 291.366 vozů. Skupina Stellantis, mateřská společnost značek Fiat, Peugeot a Opel, zaznamenala jakožto druhý největší hráč na trhu nárůst o 7,1 procenta, zatímco třetí největší prodejce Renault vykázal růst o 3,6 procenta.
Automobilka Škoda Auto, která je součástí německé skupiny Volkswagen, v červnu prodej v zemích EU podle údajů ACEA meziročně zvýšila o 10,1 procenta na 73.855 vozů. Podíl této značky na unijním trhu ale klesl na 6,4 procenta ze 6,6 procenta před rokem stejně jako tržní podíl celé skupiny Volkswagen.
Nadále výrazně posilují čínští výrobci, jako jsou Chery, BYD a Leapmotor. BYD v červnu meziročně zvýšila prodej o téměř 200 procent, Chery dokonce o 271 procent a Leapmotor o 496 procent. Tržní podíly čínských prodejců za prvních šest měsíců roku však zůstávají zatím skromné a pohybují se kolem jednoho až tří procent.
Booth #2829 invites attendees to step inside the worlds of two iconic franchises through the groundbreaking LEGO SMART Play experience Attendees will be able to experience two beloved franchises like never before, as LEGO SMART Play adds a new dimension of interactive play Other exciting ways to experience the LEGO brand on-site July 23-26 include multiple new product reveals making global debuts, in-booth programming and a scavenger hunt for brand prizes , /PRNewswire/ -- The LEGO Group is unveiling the LEGO® SMART Play™ Gateway at San Diego Comic-Con 2026 — a booth experience powered by LEGO SMART Play technology that puts attendees right at the center of their fandoms and brings LEGO sets to life with a newfound layer of interactivity. At the LEGO SMART Play Gateway, fans will step inside the heart of two of pop culture's most beloved franchises.
The LEGO Group will also further debut several new LEGO sets spanning numerous fandoms at San Diego Comic-Con 2026 — continuing to offer a LEGO set for every age and interest!
The LEGO Group unveils the “LEGO® SMART Play™ Gateway” at San Diego Comic-Con 2026 in San Diego, California, Wednesday, July 22, 2026. This booth experience, powered by LEGO SMART Play technology, puts attendees at the center of LEGO Star Wars™ and LEGO Pokémon™ environments with interactive play opportunities unique to the brand. Visitors can engage with the LEGO SMART Play elements of the booth and explore new product reveals across beloved franchises. (AP Photo/[Christy Radecic]) Enter a New Dimension of Play at the LEGO SMART Play Gateway
Launched this year, LEGO SMART Play provides open-ended physical play through responsive technology that reacts in real time. The LEGO SMART Play platform is powered by the SMART Brick, a 2x4 LEGO brick compatible with the LEGO System in Play that holds more than 20 patented world-first technologies. The SMART Brick can read SMART Tags and SMART Minifigures, synthesize light and sounds and sense precise motion, allowing kids to build, interact and create their own stories as their creations play back.
Attendees at San Diego Comic-Con 2026 are invited to step through the doors of the LEGO SMART Play Gateway, a retro-futuristic interworld departure terminal. Blending mid-century modern design with the technological optimism of LEGO SMART Play, the space transports fans from the show floor through SMART Play™-powered portals and into one of two fully immersive destinations:
Destination: LEGO Pokémon™ Lab
Destination: LEGO Pokémon™ Lab invites fans into the starting point of every Pokémon Trainer's journey, a Lab recreated with scaled-up LEGO bricks and populated by life-sized LEGO Pokémon™ builds powered by LEGO SMART Play. Guests can choose their first partner Pokémon by selecting a Poké Ball to reveal Bulbasaur, Charmander or Squirtle and interact with their chosen Pokémon via SMART Brick lights and sounds. Portal visitors can further try out a game of "Hide and Pikachu" inspired by the LEGO Pokémon™ SMART Play: Training House with Pikachu set or interact with Eevee as its ears sway and the gems around its glow. Don't depart without exploring the display case highlighting a full range of LEGO Pokémon™ sets available this year. Destination: Mos Eisley
Destination: Mos Eisley transports Star Wars™ fans straight to Mos Eisley Cantina, recreated as a series of oversized LEGO brick environments pulled directly from the world of LEGO Star Wars™ SMART Play (specifically, the LEGO Star Wars™ SMART Play: Mos Eisley Cantina™ set!). Interactive touchpoints are woven throughout, doubling as iconic photo opportunities: grab the mic and swing it to trigger a SMART Brick remix of the iconic Cantina Song as the Modal Nodes band plays along; slide into the infamous corner booth for a face-to-face encounter with Greedo; and visit the Dewback Petting Zoo for a photo op with a purring, snoozing Dewback. Eagle-eyed fans can also decode hidden Aurebesh signage to unlock in-universe Easter eggs scattered throughout the space. "The excitement around LEGO SMART Play began earlier this year and continues to grow with the launch of new sets on August 1. We are thrilled to bring these themes to life at the LEGO SMART Play Gateway during San Diego Comic-Con," said Beth McKenna, Head of U.S. Marketing at the LEGO Group. "LEGO SMART Play represents the most significant advancement in LEGO® play since the Minifigure. Comic-Con is the ideal venue to showcase the possibilities of LEGO SMART Play, where attendees unite over the stories, characters, and worlds they adore."
Sets Debuting at San Diego Comic-Con 2026
Brand new sets from across the LEGO brand's most beloved franchises, not specific to SMART Play, are on display flanking the rear of the gateway; as each display case operates as its own destination, inviting fans and enthusiasts to explore and build upon the worlds they love most.
Boldly Build Where No One Has Built Before with the NEW LEGO Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge
The LEGO Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge (11385), the ultimate tribute to one of the most iconic ships in sci-fi history, is a perfect way to celebrate Star Trek's 60th anniversary in 2026 – and it reveals at San Diego Comic-Con!
This 1,701-piece set, available at LEGO Stores and LEGO.com exclusively beginning September 1 and available for pre-order now, recreates the iconic bridge and transporter room from the original series in authentic detail with eight LEGO Minifigures representing the Starfleet crew. Turn a dial to beam crew from the transporter room, swish open the turbo lift doors and rock the captain's chair to simulate warp turbulence and space battles; this is a mission-worthy build for any Trekkie.
Outside of the booth, the U.S.S. Enterprise NCC-1701™ Bridge set will make its first appearance at the Star Trek: The Collector Frontier Panel, accompanied by LEGO set designers Henrik Andersen and Crystal Marie Fontan to explain the process and inspiration that went into recreating the U.S.S. Enterprise. The panel takes place Thursday, July 23, 11:00am to 12:00pm in Room 5AB. For those on the hunt for further LEGO Star Trek sights, be sure to visit the "Star Trek: Boldly Built" activation at the Marriot Marquis on W. Harbor Drive July 23-26, where attendees can take a photo in a LEGO brick-built Captain's Chair – made out of 83,568 LEGO bricks!
Relive the Classic with the NEW LEGO Donkey Kong™ Arcade
Jump back into a classic age of gaming with the LEGO Donkey Kong Arcade (72051), on display for the first time at San Diego Comic-Con and available in stores August 1. This 1,367-piece collectible set pays homage to the iconic arcade cabinet, complete with Jumpman, Donkey Kong and Lady, plus scaffold, ladder and hammer details straight from the original Nintendo® game.
Pull the lever to release one of the 21 barrels at a time, move Jumpman with the joystick and press the button to make him jump over the barrels — there is even a mechanism to circulate the barrels in a continuous loop to keep the fun rolling! A must-have for adult fans of classic arcade games and retro decor.
Bringing the Swamp to San Diego with NEW LEGO Minifigures Shrek Series
The LEGO Minifigures Shrek Series (71053) brings 12 beloved characters from the franchise to Minifigure form at San Diego Comic-Con, each tucked inside a sealed mystery box for ages six and up. Discover Shrek, Fiona, Donkey, Puss in Boots, Lord Farquaad and more, most with at least one themed accessory like blind mice, a magic mirror or lollipop. Collect them all, play out scenes from the films or put them on display. These are available September 1, but the fairytale will continue in 2027 with more LEGO Shrek!
This summer marks the 25th anniversary of the first Shrek film, which launched a global blockbuster franchise. A new chapter begins next summer, when DreamWorks Animation's Shrek 5 arrives in cinemas worldwide.
Within and Beyond the Booth
Attendees can explore the LEGO SMART Play™ Gateway from Thursday, July 23 to Sunday, July 26 at booth #2829, where the power of LEGO SMART Play comes to life across every corner of the experience.
Beyond the SMART Play Gateway, fans can attend LEGO-brand panels celebrating major milestones, hunt for exclusive LEGO finds in a scavenger hunt spanning the entire convention floor and take home collectible souvenirs to remember the experience:
LEGO NINJAGO® Celebrates – 15 Years and Counting! NINJAGO voice talent will take the stage to celebrate 15 years of everyone's favorite minifig ninja team – LEGO NINJAGO! They will talk about their best-loved moments from hundreds of episodes and perform a staged reading of an all-new, exclusive canon scene written by fellow panelists, LEGO NINJAGO: Dragons Rising head writers Kevin Burke & Chris "Doc" Wyatt. Thursday, July 23, 2:15pm-3:15pm in Room 6BCF. In-booth signings July 23, 4:00pm-5:00pm and Friday, July 24 2:30pm-3:30pm. NINJAGO fans will be further pleased to know that the LEGO brand debuted the third installation of its partnership with Crocs™, the NINJAGO collection, at San Diego Comic-Con this morning, The release features Classic Clogs for adults and kids inspired by one of the franchise's most beloved heroes, Lloyd; fans can further personalize their look with character-inspired Jibbitz™ charm packs. Lost Luggage Scavenger Hunt. Keep your eyes open — LEGO luggage tags are being hidden within the San Diego Convention Center daily, July 23-26. Find one and return it to the LEGO booth to claim a prize package, including exclusive brand artwork commissioned for San Diego Comic-Con 2026. Travel souvenirs to take home from your journey. Visitors can collect limited-edition boarding passes, exclusive LEGO Travel Guides, destination postcards and IP-themed travel stickers in-booth — all designed to commemorate the trip long after the show floor closes. More Information
All products on display at the show, including LEGO set reveals, can be found at LEGO.com/san-diego-comic-con. For more information on the LEGO Group activities at San Diego Comic-Con, contact [email protected].
Notes to Editor
Product Information
LEGO® Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge (11385)
Age Grade: 18+ MSRP: $199.99 Piece Count: 1,701 Global Launch Date: September 1, 2027 (available for pre-order now) at LEGO Stores and LEGO.com Description: Set course for a voyage of creativity with the LEGO® Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge building set for adults. Recreate the iconic bridge and transporter room that served as the backdrop for epic scenes aboard the legendary starship. Rock the captain's chair to simulate ship turbulence and turn a dial to beam crew members. Includes eight iconic Star Trek character Minifigures. LEGO® Donkey Kong™ Arcade (72051)
Age Grade: 18+ MSRP: $199.99 Piece Count: 1367 Global Launch Date: August 1, 2026 at LEGO Stores and select retailers Description: Join Jumpman on the construction site again with this LEGO® brick model of the iconic Donkey Kong™ arcade game. Pull the lever for Donkey Kong to 'throw' barrels one after the other. Move Jumpman with the joystick and press the button to make him leap over the barrels. This set pays homage to the original Donkey Kong arcade cabinet game and makes a fun, nostalgic addition to your game room. LEGO® Minifigures Shrek Series (71053)
Age Grade: 6+ MSRP: $4.99 Piece Count: 7 Global Launch Date: September 1, 2026 at LEGO Stores and select retailers Description: Enjoy movie adventures with LEGO® Minifigures Shrek Series mystery boxes. There are 12 detailed characters to collect, including Shrek, Fiona and Donkey, Puss in Boots, Prince Charming, Big Bad Wolf and Lord Farquaad and most come with at least one accessory. Expand your Minifigure collection or use them to play out your favorite scenes from the DreamWorks Animation's Shrek films. Open your box and find out who's inside! About the LEGO Group
The LEGO Group's mission is to inspire and develop the builders of tomorrow through the power of play. The LEGO System in Play, with its foundation in LEGO bricks, allows children and fans to build and rebuild anything they can imagine.
The LEGO Group was founded in Billund, Denmark in 1932 by Ole Kirk Kristiansen, its name derived from the two Danish words Leg Godt, which mean "Play Well".
Today, the LEGO Group remains a family-owned company headquartered in Billund. Its products are now sold in more than 130 countries worldwide. For more information: www.LEGO.com.
About The Pokémon Company International
The Pokémon Company International manages the Pokémon property outside of Asia and is responsible for brand management, licensing, marketing, the Pokémon Trading Card Game, the animated TV series, home entertainment and the official Pokémon website. Pokémon was launched in Japan in 1996 and today is one of the most popular children's entertainment properties in the world. For more information, please visit www.pokemon.co.uk.
Paramount Products & Experiences oversees all licensing, merchandising, and location-based experiences for Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company. The division brings to life iconic franchises and beloved characters through innovative products and immersive experiences across categories including toys, apparel, publishing, food and beverage, theme parks, hotels, cruises, attractions, and live entertainment. Its global portfolio is powered by content from brands such as Nickelodeon, Paramount Pictures, CBS, MTV, Comedy Central, and Paramount+, and fan-favorite franchises like PAW Patrol, SpongeBob SquarePants, Teenage Mutant Ninja Turtles, Star Trek, and Yellowstone. To explore our range of consumer products and Paramount-branded merchandise, visit ParamountShop.com.
For the past two decades, children of all ages have been enchanted by DreamWorks Animation's delightful, irreverent adventures of a misunderstood ogre and his ragtag group of roguish fairytale folk. Beginning with Shrek, the 2001 Academy Award® winner for Best Animated Feature, Shrek (Mike Myers), Fiona (Cameron Diaz), Donkey (Oscar® nominee Eddie Murphy), Puss in Boots (Oscar® nominee Antonio Banderas) and their signature friends, family and tormentors have grown into an indelible part of pop culture, reminding audiences around the globe that beauty is in the eye of the beholder.
The four Shrek franchise films have earned more than $2.9 billion worldwide, spawning a global live-touring show, an award-winning Broadway musical that earned eight Tony nominations and 12 Drama Desk nominations, plus an immersive, top-tourist destination in London and popular events and attractions across Universal Studios theme parks worldwide.
From an astonishing consumer products campaign to imaginative digital extensions and a global animation exhibition tour, the iconic age of Shrek now enters a thrilling new era in 2027, as DreamWorks Animation reimagines this wonderous tale for a new generation with Shrek 5. Stars Mike Myers, Cameron Diaz and Eddie Murphy return, now joined by Emmy winning superstar Zendaya (Dune franchise, Euphoria) as Shrek and Fiona's daughter.
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced that MultiLynq LLC, a financial technology solutions supplier for electronic fixed income trading, has become the first provider to offer connectivity to their customers to the ICE Bonds Risk Matching Auction (RMA) protocol. The RMA protocol, which is part of the ICE Bonds' suite of trading.
The next leg of the U.S. semiconductor trade may not be only about AI-chip speed. It may also be about who already has manufacturing capacity on American soil. Texas Instruments (Nasdaq: TXN), Intel (Nasdaq: INTC), and Qorvo (Nasdaq: QRVO), trading at $294.19, $102.62, and $89.48, respectively, stand out after KeyBanc recently highlighted them as leading U.S.-listed semiconductor names by domestic manufacturing footprint.
CHIPS Act incentives, tariff shifts, and a national security push to reshore wafer output have hardened into balance-sheet items.
TXN pulled in $850M in Q2 CHIPS incentives. Intel is ramping 18A high-volume manufacturing in Arizona and Oregon, backed by a US government equity stake and a $5B NVIDIA investment related to AI infrastructure. Qorvo keeps a large share of its RF production stateside while preparing to merge with Skyworks.
Reshoring Is Turning Into Real Revenue The demand backdrop is wider than AI alone. Texas Instruments posted Q2 revenue of $5.46 billion, up 22.8% year over year, with EPS of $2.14 beating estimates by 10.56%, led by industrial, data center, and automotive demand. Intel’s Data Center & AI segment grew 22% last quarter, while Intel Foundry rose 16%, and non-GAAP EPS of $0.29 cleared a $0.01 estimate.
Qorvo’s High Performance Analog unit grew 7.9%, with a 34.7% GAAP operating margin, while FY2026 free cash flow rose 40.2% to roughly $680 million. The takeaway is that customers are paying up for domestic and diversified supply chains as Asia exposure becomes harder to ignore.
The Prices Already Reflect a Lot Texas Instruments trades at 38 times forward earnings after a 69.5% YTD run, putting the stock well above its historical valuation band, even as capex is down 60.6% year over year and the factory buildout phase cools. Intel has surged 178.1% YTD and 341.57% over one year, but trailing earnings remain negative, the forward P/E sits near 119, and Foundry losses are still part of the story. Qorvo brings its own caveats: revenue declined 1.1% in FY2026, an $82.4 million goodwill impairment hit Q4, guidance remains suspended, and Apple concentration is still a structural risk.
Cycles Cut Both Ways Semiconductors remain cyclical, tariff and export rules can shift overnight, and Intel’s turnaround still depends on Foundry hitting yield milestones. Qorvo’s story also hinges on the Skyworks deal closing. Investors who want confirmation could wait for Q3 earnings reports, Intel 18A volume data, and regulatory clearance on the merger before adding.
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What the Street Sees Right Now TXN’s analyst target sits at $303.59 against $294.19, with 2 Strong Buy, 15 Buy, 17 Hold, and 2 Sell ratings. Intel’s target is $106.70 versus $102.62, with 2 Strong Buy, 11 Buy, 32 Hold, 2 Sell, and 2 Strong Sell. Qorvo’s $91.46 target sits just above $89.48, with 1 Strong Buy, 2 Buy, 16 Hold, and 1 Sell. Targets are just one data point. TXN and INTC have run far ahead of the S&P 500 year to date; Qorvo, up 5.88%, has lagged the broader index by a wide margin.
Why the Trio Stands Out at These Prices At $294.19, $102.62, and $89.48, Texas Instruments, Intel, and Qorvo look well-positioned for the reshoring cycle. Here is why.
The reshoring wave is showing up in Texas Instruments’ revenue mix, Intel’s selection as the host CPU for NVIDIA’s DGX Rubin NVL8 and its multi-year Google custom ASIC partnership, and Qorvo’s expanding margins. Texas Instruments offers the cleanest exposure at a premium price, backed by an already-built U.S. fab base, $6.53 billion in TTM free cash flow, and quarterly CHIPS Act inflows.
Intel is the highest-risk, highest-conviction play. A U.S. government equity stake, NVIDIA’s investment, the Terafab consortium with SpaceX, xAI, and Tesla, and the 18A ramp are all converging inside the same 12-month window. Qorvo is the value angle, priced near merger-arb levels, with CEO Bob Bruggeworth targeting FY2027 non-GAAP EPS approaching $7.00.
All three offer distinct exposure to the American-made chips theme for investors who view reshoring as a decade-long shift, not a headline cycle.
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Americká automobilka Tesla ve druhém čtvrtletí zvýšila tržby meziročně o 26 procent na 28,24 miliardy dolarů (zhruba 600 miliard Kč). Čistý zisk však klesl o pět procent na 1,11 miliardy dolarů a provozní zisk se propadl o 57 procent na 398 milionů dolarů. Provozní marže se snížila na 1,4 procenta z loňských 4,1 procenta. Vyplývá to z výsledků, které firma zveřejnila v noci na dnešek. Společnost patří nejbohatšímu člověku světa Elonu Muskovi, který je zároveň jejím generálním ředitelem.
Tržby z prodeje automobilů vzrostly o 23 procent na 20,52 miliardy dolarů, zatímco příjmy v oblasti energetiky a ukládání energie se zvýšily o 13 procent na 3,14 miliardy dolarů. Tržby divize služeb a dalších aktivit stouply o polovinu na 4,58 miliardy dolarů. Firma ve čtvrtletí vykázala rekordních 480.126 dodaných vozů, což představuje meziroční nárůst o čtvrtinu. Výrazně vzrostly také dodávky bateriového ukládání energie.
Tesla dále uvedla, že zahájila výrobu autonomního vozu Cybercab v texaské Gigafactory a pokračuje v rozšiřování služby Robotaxi v několika amerických městech. Současně investuje do rozšiřování výrobních kapacit baterií, výpočetní infrastruktury pro umělou inteligenci (AI) a výroby polovodičů. Firma rovněž oznámila, že za posledních 12 měsíců poprvé překročila hranici 100 miliard dolarů v tržbách.
Tesla je největším světovým výrobcem elektromobilů podle tržní hodnoty a kromě osobních vozů rozvíjí také podnikání v oblasti bateriových úložišť, autonomního řízení, robotických technologií a umělé inteligence. V posledních letech firma výrazně investuje do nových výrobních kapacit a infrastruktury s cílem podpořit další růst v automobilovém i energetickém byznysu.
Musk se v posledních letech výrazně angažoval v politice. V lednu 2025 se zapojil do předvolební kampaně v Německu, aby podpořil stranu Alternativa pro Německo (AfD), označovanou za krajně pravicovou. Podporoval také amerického prezidenta Donalda Trumpa ve volební kampani a po Trumpově vítězství několik měsíců vedl skupinu pro zefektivnění státní správy (DOGE). Vztahy mezi Trumpem a Muskem se však postupem času zhoršily.
IRVING, Texas--(BUSINESS WIRE)--The Board of Directors of McKesson Corporation (NYSE:MCK) yesterday declared a regular dividend of $0.94 per share of common stock, a 15% increase from $0.82 per share in the prior quarter. The dividend will be payable on October 1, 2026, to shareholders of record on September 1, 2026. “Today's announcement marks our tenth consecutive year of dividend growth, reflecting the strength of our business, our disciplined approach to capital allocation and our commitmen.
Largest Bank in Chattanooga Selects Native Chattanoogan as Bank Marks 50 Years in Chattanooga
, /PRNewswire/ -- First Horizon Bank (NYSE: FHN) (or "First Horizon") announced that veteran banker Lebron Womack will serve as Chattanooga Market President. Womack has more than 15 years of experience with First Horizon Bank and more than 30 years in the banking industry.
Lebron Womack, Chattanooga Market President for First Horizon Bank Throughout his tenure with First Horizon, Womack has held leadership and commercial banking roles serving businesses across Chattanooga and East Tennessee. Most recently, he served as Senior Vice President and Commercial Relationship Manager, partnering with middle-market and corporate clients on growth initiatives, acquisitions, capital investments, and strategic financing solutions.
As First Horizon Bank marks its 50th year in the Chattanooga market, Womack will focus on strengthening client relationships, supporting associates, expanding First Horizon's presence in the community, and driving growth across the Chattanooga market. He will continue to lead with a client-first approach and build teamwork to deliver strategic solutions that lead to client success.
"Lebron is an ideal leader to serve as Chattanooga Market President," said Richard Shaffer, East Regional President for First Horizon Bank. "He knows the importance of turning understanding into action by providing tailored solutions to help clients and communities reach their full potential. He will make an outstanding president for this key market in First Horizon's footprint."
"I am honored to lead our amazing team of bankers and financial professionals in Chattanooga – they are the reason First Horizon continues to be the leading bank in this market. Our dedication to 'Here for Good' efforts are more than a principle, community involvement is in our DNA. Together, we're going to continue to make a difference in the lives of our clients and in the greater Chattanooga community that has been so good to us."
A native Chattanoogan, and proud graduate of the University of Tennessee at Chattanooga, Womack is actively involved in the community and currently serves on the board of the Tennessee River Gorge Trust.
About First Horizon
First Horizon Corp. (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
Constellation Brands: Beer Growth and Buybacks Mask Stock's SlumpConstellation Brands NYSE: STZ held its 2026 annual meeting of stockholders on July 22, with shareholders approving all items presented for a vote, according to preliminary results announced during the meeting.
Nick Fink, president and chief executive officer of Constellation Brands, opened the virtual meeting and said company materials, including the 2026 proxy statement, 2026 annual report, agenda and rules of conduct, were available on the meeting website. He also directed shareholders to the company’s investor relations website for recently reported first-quarter fiscal 2027 financial results and other updates on strategy, performance and outlook.
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Willing and Abel: Berkshire's New CEO Makes Huge Portfolio Changes in Q1Brian Bennett, assistant corporate secretary, conducted the business portion of the meeting. He said the company had a quorum and that the polls opened at 11:02 a.m. Eastern Time. Bennett also noted that the meeting could include forward-looking statements subject to risks and uncertainties, including those described in Constellation’s filings with the Securities and Exchange Commission.
Shareholders Elect 12 Directors Shareholders were asked to elect 12 director nominees to serve one-year terms expiring at the 2027 annual meeting of stockholders. Bennett said no other nominations were received under the company’s bylaws and proxy statement procedures.
Spirits on the Rocks? The Battle for Jack DanielsThe nominees elected, based on preliminary voting results, were:
Christopher J. Baldwin Christy Clark Jennifer M. Daniels Nicholas I. Fink E. Morgan Flatley William T. Giles Ernesto M. Hernández Jose Manuel Madero Garza Daniel J. McCarthy Richard Sands Robert Sands Luca Zaramella The board had recommended that shareholders vote in favor of each nominee.
Accounting Firm, Executive Pay and Incentive Plan Approved In addition to the director elections, shareholders ratified the selection of KPMG LLP as Constellation Brands’ independent registered public accounting firm for the fiscal year ending Feb. 28, 2027. Bennett said representatives of KPMG were present and available to respond to appropriate shareholder questions during the meeting.
Shareholders also approved, on an advisory basis, the compensation of the company’s named executive officers as disclosed in the proxy statement. The board had recommended approval of the measure.
The fourth proposal, approval of the company’s amended and restated long-term stock incentive plan, was also approved by shareholders based on the preliminary voting results. The board had recommended that shareholders vote in favor of the plan.
Bennett said final voting results will be disclosed in a Form 8-K filing with the SEC. After reporting the preliminary outcomes, he adjourned the meeting, stating that there was no further business to come before shareholders.
About Constellation Brands (NYSE:STZ)Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.
The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Earnings SANTA BARBARA, CA / ACCESS Newswire / July 22, 2026 / American Riviera Bancorp ("Company") (OTCQX:ARBV), holding company of American Riviera Bank ("Bank"), announced today unaudited net income of $7.3 million ($1.26 per share) for the six months ended June 30, 2026, an increase of 46.2% compared to $5.0 million ($0.86 per share) earned in the same reporting period in the previous year.
Unaudited net income was $3.3 million ($0.57 per share) for the three months ended June 30, 2026, compared to $4.0 million ($0.69 per share) in the previous quarter, and $2.6 million ($0.46 per share) earned in the same reporting period in the previous year. Net income pre-tax, pre-provision (non-GAAP) continued to increase, reaching $5.4 million for the three months ended June 30, 2026, compared to $5.2 million in the previous quarter, and $4.0 million in the same reporting period in the previous year.
Total deposits were $1.23 billion at June 30, 2026, an increase of $95.5 million or 8.4% from June 30, 2025. Total loans were $1.15 billion at June 30, 2026, an increase of $133.4 million or 13.1% from June 30, 2025. Total loans grew $72.0 million or 6.7% in the first half of 2026. Significant loan growth of $54.2 million in the most recent quarter necessitated a $1.0 million loan loss provision to maintain an appropriate allowance to total loans of 1.19% at June 30, 2026.
Jeff DeVine, President and CEO of the Company and the Bank stated, "American Riviera Bank recently celebrated our twenty-year business anniversary. Our vibrant Central Coast economy has made it possible for the Bank to significantly grow loans and substantially improve profitability over the prior year to date. We have our loyal clients, knowledgeable bankers and community to thank for this longevity and success."
Financial Highlights
Unaudited net income and earnings per share have improved 46.2% and 46.5%, respectively, from the first six months of 2025.
Return on average assets was 1.05%, return on average equity was 11.09% and efficiency ratio was 63.35% for the first six months of 2026.
Total shareholders' equity was $134.8 million at June 30, 2026, an increase of $17.2 million or 14.6% from the same reporting period in the previous year.
Tangible book value per share was $22.56 at June 30, 2026, an increase of $3.16 or 16.3% from the same reporting period in the previous year.
The Company's tangible common equity ratio was 9.04% at June 30, 2026, compared to 8.70% at June 30, 2025. Strong earnings and improvement in the market value of the securities portfolio were partially offset by cumulative share repurchases since June 30, 2025 totaling $2.0 million and the impact of 11.0% asset growth over the previous year.
Non-interest-bearing demand deposits were $479.3 million or 39.1% of total deposits at June 30, 2026, and have increased $31.7 million or 7.1% since June 30, 2025.
Total demand deposits were $638.1 million or 52.0% of total deposits at June 30, 2026, and have increased $56.0 million or 9.6% since June 30, 2025.
As a result of the Bank's core funding and relationship-based deposits, the cost of deposits and total cost of funds were 1.24% and 1.36%, respectively, for the second quarter of 2026. Total cost of funds has improved by 14 basis points from the 1.50% reported for the same quarter in the previous year.
Net interest margin ("NIM") increased to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and has improved 36 basis points from the 3.65% reported for the same quarter in the previous year. NIM has improved as a result of steady loan yield improvement and continued low cost of funds.
On-balance sheet liquidity continues to be substantial with $192.1 million of cash, due from banks, and available-for-sale ("AFS") securities at market value as of June 30, 2026.
At June 30, 2026, the Bank's commercial real estate ("CRE") portfolio was diverse, with weighted average loan-to-values of 28% to 52% and weighted average debt coverage ratios between 1.85x and 3.10x depending on the individual CRE category as of the most recent CRE stress test in January 2026.
The Bank maintained strong credit quality with no other real estate owned, no loans 90 days or more past due and still accruing, and $7.9 million or 0.69% of total loans on non-accrual status, which are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Second Quarter 2026 Earnings
For the second quarter of 2026, unaudited net income was $3.3 million, compared to $4.0 million reported in the first quarter of 2026, and $2.6 million reported in the second quarter of 2025. The decline in unaudited net income for the second quarter of 2026 was primarily due to an additional $1.0 million provision for credit losses due to significant loan growth in the quarter.
Unaudited net income pre-tax, pre-provision (non-GAAP) has increased sequentially over the last five quarters and was $5.4 million in the second quarter of 2026, a $0.2 million or 4.1% increase from the first quarter of 2026, and a $1.4 million or 34.4% increase from the $4.0 million reported in the second quarter of 2025.
The Bank has grown interest and fees on loans sequentially over the last five quarters from $14.2 million in the second quarter of 2025 to $16.3 million in the second quarter of 2026, representing a $2.1 million or 15.4% increase.
Total interest expense has remained stable at $4.3 million in the second quarter of 2026 and the second quarter of 2025, even though deposits have grown $95.5 million or 8.4% since the second quarter of 2025. Total interest expense has increased from the prior quarter due to increased borrowings to support loan growth.
Net interest income before provision in the second quarter of 2026 increased $2.2 million or 19.1% compared to the second quarter of 2025.
Non-Interest Income and Expense
Total non-interest income was $1.1 million for the second quarter of 2026, a decrease of $0.1 million from the prior quarter, and an increase of $0.2 million from the second quarter of the previous year. Variances between the quarters can be attributed to Federal Home Loan Bank ("FHLB") dividends, SBA loan sale premiums, mortgage broker fees, loan interest rate swap fees, loan prepayment fees and gains or losses on sale of securities.
Total non-interest expense was $9.2 million for the second quarter of 2026, an increase from $9.1 million from the prior quarter, and an increase from the $8.3 million reported for the same quarter in the previous year. Variances between the quarters can be attributed to changes in staffing, bonus accrual adjustments, operating losses and recoveries, and the timing of expenses related to advertising and events. The Company has significantly improved operating leverage with total non-interest expense up only $1.7 million or 10.1% for the first six months of 2026 versus the first six months of 2025, while net interest income before provision increased $4.1 million, or 18.3% for the comparison period.
Loans and Asset Quality
Total loans were $1.15 billion at June 30, 2026, an increase of $54.2 million or 4.9% from the prior quarter-end, and an increase of $133.4 million or 13.1% from June 30, 2025. The Bank's Allowance for Credit Losses ("ACL") was $13.7 million at June 30, 2026, with a resulting coverage ratio of 1.19%, an increase from the prior quarter of 1.16%. As of June 30, 2026, non-accrual loans totaled $7.9 million, a $0.1 million decrease from the previous quarter-end, and a $0.5 million decrease from the $8.4 million reported at June 30, 2025. All loans on non-accrual are well supported by collateral, borrower assets, SBA guarantees, or specific reserves.
Deposits & Borrowings
Total deposits were $1.23 billion at June 30, 2026, a $28.1 million or 2.2% decrease from the prior quarter-end, and an increase of $95.5 million or 8.4% from June 30, 2025. Deposit growth year-over-year was represented by core deposits, with no wholesale brokered funds at June 30, 2026.
Non-interest-bearing demand deposits totaled $479.3 million at June 30, 2026, an increase of $14.5 million or 3.1% from the prior quarter-end, and an increase of $31.7 million or 7.1% from June 30, 2025.
Interest-bearing demand deposits totaled $158.9 million at June 30, 2026, a decrease of $32.9 million or 17.2% from the prior quarter-end, and an increase of $24.3 million or 18.1% from June 30, 2025. Total demand deposits, including interest-bearing demand, represent 52.0% of total deposits at June 30, 2026, compared to 52.3% at the prior quarter-end, and 51.4% at June 30, 2025.
Other interest-bearing deposits totaled $588.8 million at June 30, 2026, a decrease of $9.6 million or 1.6% from the prior quarter-end, and an increase of $39.4 million or 7.2% from June 30, 2025.
The weighted average cost of deposits for the second quarter of 2026 increased 2 basis points to 1.24% from 1.22% for the first quarter of 2026 and decreased 15 basis points from the 1.39% reported for the same quarter of the previous year. The decrease in cost of deposits in the last year was due to significant growth in demand deposits, and the Federal Reserve's three 25 basis point rate cuts in the last four months of 2025.
The Company's total borrowings were $68.7 million at June 30, 2026, an increase of $42.5 million from the prior quarter-end and a $30.2 million increase from June 30, 2025. At June 30, 2026, the Company had $9.5 million outstanding on a correspondent loan at a rate of 3.85%, $16.2 million of subordinated notes outstanding at a rate of 3.75%, and $43.0 million of short-term, one month or less duration advances with a weighted average cost of 3.75%. The weighted average cost on all borrowings for the second quarter of 2026 was 3.81%, resulting in $0.5 million of interest expense on borrowings, an increase of $0.1 million compared to the prior quarter, and equal to the interest expense on borrowings for the second quarter of 2025.
Due to significant demand deposits balances and continued focus on maintaining and growing relationships, total cost of funds remained low at 1.36% for the second quarter of 2026, which was 6 basis points higher than the 1.30% reported for the previous quarter, but 14 basis points lower than the 1.50% reported for the same quarter of the previous year.
The Company's net interest margin improved to 4.01% for the second quarter of 2026, compared to 3.97% in the prior quarter, and improved a significant 36 basis points from the 3.65% reported for the same quarter of last year as a result of steady loan yield improvement and a decline in total cost of funds for the comparison period.
The Bank's liquidity position remained strong with a primary liquidity ratio (cash and cash equivalents, deposits held in other banks and unpledged AFS securities as a percentage of total assets) of 11.8% at June 30, 2026, compared to 14.7% at March 31, 2026. As of June 30, 2026, the Bank had available and unused, secured borrowing capacity with the FHLB of $403.7 million, and had available and unused, secured borrowing capacity with the Federal Reserve of $6.5 million. In addition, the Bank had $144.3 million of unused Fed funds lines of credit with correspondent banks at June 30, 2026. Available contingent funding sources of $554.5 million remain robust.
Overall uninsured deposits, excluding public agency deposits that are collateralized, are conservatively estimated to be $430.4 million, or 35.1% of total deposit balances as of June 30, 2026. The actual level of uninsured deposits is lower than the percentage stated above, as our knowledgeable bankers have helped clients obtain more than $250,000 of FDIC insurance with vesting structures such as joint accounts, payable upon death accounts, and revocable trust accounts with multiple beneficiaries. In addition, the Bank can offer up to $285 million of FDIC pass-through insurance to clients via the IntraFi network Insured Cash Sweep ("ICS") or Certificate of Deposit Account Registry Service ("CDARS") products.
Shareholders' Equity
Total shareholders' equity was $134.8 million at June 30, 2026, a $3.5 million or 2.7% increase since March 31, 2026, and an increase of $17.2 million or 14.6% over the same period of the prior year. The tax adjusted unrealized loss on securities, which is a component of equity (accumulated other comprehensive income or "AOCI"), was $14.0 million at June 30, 2026, and improved $3.9 million or 22.0% from June 30, 2025. The Bank fully expects to receive all principal when the investments mature.
As of June 30, 2026, the Company had repurchased a cumulative 130,616 shares of common stock at a weighted average cost of $19.80, leaving $2.4 million available for repurchase under the share repurchase program. No shares were repurchased in the quarter ending June 30, 2026.
Company Profile
American Riviera Bancorp (OTCQX: ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. In December 2025, the Bank opened a lending center in the City of Ventura. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a "5 Star - Superior" rating from Bauer Financial and for fifteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank is rated "Outstanding" by the Federal Deposit Insurance Corporation for its performance under the Community Reinvestment Act. The Bank was recognized by S&P Global as a Top 100 Small US Community Bank Deposit Franchise as of June 30, 2025. #BankonBetter #OTCQX
American Riviera Bank
www.americanriviera.bank
805-965-5942
Michelle Martinich
Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, effects of interest rate changes, ability to control costs and expenses, impact of consolidation in the banking industry, financial policies of the US government, and general economic conditions.
American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
June 30,
June 30,
One Year
One Year
2026
2025
$ Change
% Change
Assets
Cash & Due From Banks
$
27,964
$
28,111
$
(147
)
-1
%
Available-for-sale securities
164,117
162,089
2,028
1
%
Held-to-maturity securities, net
41,469
41,392
77
0
%
Loans
1,153,669
1,020,261
133,408
13
%
Allowance For Credit Losses
(13,733
)
(12,496
)
(1,237
)
10
%
Net Loans
1,139,936
1,007,765
132,171
13
%
Premise & Equipment
9,972
7,773
2,199
28
%
Operating Lease Right-of-Use Asset
4,973
6,184
(1,211
)
-20
%
Bank Owned Life Insurance
14,329
12,370
1,959
16
%
Stock in Other Banks
7,243
6,786
457
-
Goodwill and Other Intangibles
4,872
4,889
(17
)
0
%
Other Assets
28,037
23,086
4,951
21
%
Total Assets
$
1,442,912
$
1,300,445
$
142,467
11
%
Liabilities & Shareholders' Equity
Non-interest-bearing Demand Deposits
$
479,267
$
447,534
$
31,733
7
%
Interest-bearing Demand Deposits
158,852
134,538
24,314
18
%
Other Interest-bearing Deposits
588,826
549,404
39,422
7
%
Total Deposits
1,226,945
1,131,476
95,469
8
%
Borrowed Funds
68,650
38,500
30,150
78
%
Allowance for credit losses on off-balance sheet exposures
974
993
(19
)
-2
%
Other Liabilities
11,528
11,865
(337
)
-3
%
Total Liabilities
1,308,097
1,182,834
125,263
11
%
Common Stock
67,203
67,914
(711
)
-1
%
Retained Earnings
81,617
67,645
13,972
21
%
Other Capital
(14,005
)
(17,948
)
3,943
22
%
Total Shareholders' Equity
134,815
117,611
17,204
15
%
Total Liabilities & Shareholders' Equity
$
1,442,912
$
1,300,445
$
142,467
11
%
American Riviera Bancorp and Subsidiaries
Balance Sheets (unaudited)
(dollars in thousands)
June 30,
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
Assets
Cash & Due From Banks
$
27,964
$
66,678
$
21,395
$
128,753
$
28,111
Available-for-sale securities
164,117
164,958
169,793
164,459
162,089
Held-to-maturity securities
41,469
41,450
41,430
41,411
41,392
Loans
1,153,669
1,099,436
1,081,696
1,041,839
1,020,261
Allowance for Credit Losses
(13,733
)
(12,712
)
(12,689
)
(12,689
)
(12,496
)
Net Loans
1,139,936
1,086,724
1,069,007
1,029,150
1,007,765
Premise & Equipment
9,972
7,108
7,255
7,494
7,773
Operating Lease Right-of-Use Asset
4,973
5,280
5,584
5,885
6,184
Bank Owned Life Insurance
14,329
14,193
14,051
12,489
12,370
Stock in Other Banks
7,243
6,786
6,786
6,786
6,786
Goodwill and Other Intangibles
4,872
4,873
4,871
4,883
4,889
Other Assets
28,037
25,201
27,117
21,142
23,086
Total Assets
$
1,442,912
$
1,423,251
$
1,367,289
$
1,422,452
$
1,300,445
Liabilities & Shareholders' Equity
Non-interest-bearing Demand Deposits
$
479,267
$
464,816
$
451,721
$
482,343
$
447,534
Interest-bearing Demand Deposits
158,852
191,756
168,399
180,930
134,538
Other Interest-bearing Deposits
588,826
598,427
579,902
597,454
549,404
Total Deposits
1,226,945
1,254,999
1,200,022
1,260,727
1,131,476
Borrowed Funds
68,650
26,150
26,500
26,500
38,500
Allowance for credit losses on off-balance sheet exposures
974
974
974
1,215
993
Other Liabilities
11,528
9,822
12,123
11,956
11,865
Total Liabilities
1,308,097
1,291,945
1,239,619
1,300,398
1,182,834
Common Stock
67,203
66,858
67,263
68,493
67,914
Retained Earnings
81,617
78,309
74,330
68,276
67,645
Other Capital
(14,005
)
(13,861
)
(13,923
)
(14,715
)
(17,948
)
Total Shareholders' Equity
134,815
131,306
127,670
122,054
117,611
Total Liabilities & Shareholders' Equity
$
1,442,912
$
1,423,251
$
1,367,289
$
1,422,452
$
1,300,445
American Riviera Bancorp and Subsidiaries
Average Balance Sheets (unaudited)
(dollars in thousands)
2Q 2026
1Q 2026
4Q 2025
3Q 2025
2Q 2025
Average
Average
Average
Average
Average
Assets
Cash & Due From Banks
$
21,423
$
26,222
$
109,112
$
70,822
$
21,159
Available-for-sale securities
164,624
168,770
166,373
162,709
166,833
Held-to-maturity securities
41,455
41,436
41,416
41,397
41,414
Loans
1,121,809
1,089,710
1,055,371
1,031,749
1,007,429
Allowance for Credit Losses
(12,790
)
(12,690
)
(12,689
)
(12,626
)
(12,010
)
Net Loans
1,109,019
1,077,020
1,042,682
1,019,123
995,419
Premise & Equipment
7,154
7,212
7,392
7,666
7,910
Operating Lease Right-of-Use Asset
5,162
5,467
5,762
6,057
4,636
Bank Owned Life Insurance
14,282
14,141
13,762
12,448
12,330
Stock in Other Banks
7,168
6,786
6,786
6,786
6,786
Goodwill and Other Intangibles
4,876
4,870
4,877
4,887
4,894
Other Assets
25,207
25,267
21,352
21,981
20,943
Total Assets
$
1,400,370
$
1,377,191
$
1,419,514
$
1,353,876
$
1,282,324
Liabilities & Shareholders' Equity
Non-interest-bearing Demand Deposits
$
452,972
$
452,958
$
476,473
$
465,622
$
433,652
Interest-bearing Demand Deposits
158,369
156,074
156,271
150,042
120,062
Other Interest-bearing Deposits
586,709
585,890
621,162
579,637
554,088
Total Deposits
1,198,050
1,194,922
1,253,906
1,195,301
1,107,802
Borrowed Funds
56,876
39,039
26,589
26,674
47,231
Allowance for credit losses on off-balance sheet exposures
974
974
1,212
1,085
1,092
Other Liabilities
10,747
11,857
13,149
12,052
10,208
Total Liabilities
1,266,647
1,246,792
1,294,856
1,235,112
1,166,333
Common Stock
67,064
67,159
68,695
68,413
68,092
Retained Earnings
80,476
76,468
70,292
67,886
66,288
Other Capital
(13,817
)
(13,228
)
(14,329
)
(17,535
)
(18,389
)
Total Shareholders' Equity
133,723
130,399
124,658
118,764
115,991
Total Liabilities & Shareholders' Equity
$
1,400,370
$
1,377,191
$
1,419,514
$
1,353,876
$
1,282,324
American Riviera Bancorp and Subsidiaries
Statement of Income (unaudited)
(dollars in thousands, except per share data)
Quarter Ended
Six Months Ended
June 30,
June 30,
June 30,
June 30,
2026
2025
Change
2026
2025
Change
Interest Income
Interest and Fees on Loans
$
16,345
$
14,168
15
%
$
31,839
$
27,866
14
%
Interest on Securities
1,394
1,439
-3
%
2,794
2,928
-5
%
Interest on Due From Banks
68
82
-17
%
180
244
-26
%
Total Interest Income
17,807
15,689
13
%
34,813
31,038
12
%
Interest Expense
Interest Expense on Deposits
3,719
3,822
-3
%
7,303
7,687
-5
%
Interest Expense on Borrowings
540
487
11
%
914
860
6
%
Total Interest Expense
4,259
4,309
-1
%
8,217
8,547
-4
%
Net Interest Income
13,548
11,380
19
%
26,596
22,491
18
%
Provision for Credit Losses
1,020
634
61
%
1,043
921
13
%
Provision for Off-Balance Sheet Credit Exposures
-
(133
)
-100
%
-
(59
)
-100
%
Net Interest Income After Provision
12,528
10,879
15
%
25,553
21,629
18
%
Non-Interest Income
Service Charges, Commissions and Fees
795
639
24
%
1,425
1,187
20
%
Other Non-Interest Income
292
247
18
%
863
514
68
%
Total Non-Interest Income
1,087
886
23
%
2,288
1,701
35
%
Non-Interest Expense
Salaries and Employee Benefits
5,670
5,250
8
%
11,477
10,648
8
%
Occupancy and Equipment
914
929
-2
%
1,844
1,866
-1
%
Other Non-Interest Expense
2,653
2,072
28
%
4,978
4,109
21
%
Total Non-Interest Expense
9,237
8,251
12
%
18,299
16,623
10
%
Net Income Before Provision for Taxes
4,378
3,514
25
%
9,542
6,707
42
%
Provision for Taxes
1,070
870
23
%
2,279
1,740
31
%
Net Income
$
3,308
$
2,644
25
%
$
7,263
$
4,967
46
%
Shares Outstanding
5,759,969
5,810,042
-1
%
5,759,969
5,810,042
-1
%
Earnings Per Share - Basic
$
0.57
$
0.46
24
%
$
1.26
$
0.86
47
%
Return on Average Assets
0.95
%
0.83
%
14
%
1.05
%
0.78
%
35
%
Return on Average Equity
9.92
%
9.14
%
9
%
11.09
%
8.74
%
27
%
Net Interest Margin
4.01
%
3.65
%
10
%
3.99
%
3.63
%
10
%
American Riviera Bancorp and Subsidiaries
Five Quarter Statements of Income (unaudited)
(dollars in thousands, except per share data)
Three Months Ended
June, 30
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
Interest Income
Interest and Fees on Loans
$
16,345
$
15,494
$
15,437
$
14,789
$
14,168
Interest on Securities
1,394
1,400
1,378
1,340
1,439
Interest on Due From Banks
68
112
962
621
82
Total Interest Income
17,807
17,006
17,777
16,750
15,689
Interest Expense
Interest Expense on Deposits
3,719
3,584
4,282
4,315
3,822
Interest Expense on Borrowings
540
374
254
257
487
Total Interest Expense
4,259
3,958
4,536
4,572
4,309
Net Interest Income
13,548
13,048
13,241
12,178
11,380
Provision for Credit Losses
1,020
23
-
194
634
Provision for Off-Balance Sheet Credit Exposures
-
-
(240
)
221
(133
)
Net Interest Income After Provision
12,528
13,025
13,481
11,763
10,879
Non-Interest Income
Service Charges, Commissions and Fees
795
630
609
631
639
Other Non-Interest Income
292
571
284
289
247
Total Non-Interest Income
1,087
1,201
893
920
886
Non-Interest Expense
Salaries and Employee Benefits
5,670
5,807
5,744
5,467
5,250
Occupancy and Equipment
914
930
917
922
929
Other Non-Interest Expense
2,653
2,325
2,393
2,240
2,072
Total Non-Interest Expense
9,237
9,062
9,054
8,629
8,251
Net Income Before Provision for Taxes
4,378
5,164
5,320
4,054
3,514
Provision for Taxes
1,070
1,209
772
1,125
870
Net Income
$
3,308
$
3,955
$
4,548
$
2,929
$
2,644
Shares Outstanding
5,759,969
5,750,168
5,713,022
5,708,960
5,810,042
Earnings Per Share - Basic
$
0.57
$
0.69
$
0.80
$
0.51
$
0.46
Net Income pre-tax, pre-provision (Non-GAAP)
$
5,398
$
5,187
$
5,080
$
4,469
$
4,015
American Riviera Bancorp and Subsidiaries
Selected Financial Highlights (unaudited)
(dollars in thousands, except per share data)
At or for the Three Months Ended
June 30,
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
Income and performance ratios:
Net Income
$
3,308
$
3,955
$
4,549
$
2,929
$
2,644
Earnings per share - basic
0.57
0.69
0.80
0.51
0.46
Return on average assets
0.95
%
1.16
%
1.27
%
0.85
%
0.83
%
Return on average equity
9.92
%
12.30
%
14.48
%
9.75
%
9.14
%
Return on tangible common equity
10.29
%
12.77
%
15.06
%
10.22
%
9.54
%
Loan yield
5.84
%
5.77
%
5.80
%
5.69
%
5.64
%
Cost of funds
1.36
%
1.30
%
1.41
%
1.48
%
1.50
%
Cost of deposits
1.24
%
1.22
%
1.29
%
1.45
%
1.39
%
Net interest margin
4.01
%
3.97
%
3.81
%
3.66
%
3.65
%
Efficiency ratio (b)
63.12
%
63.60
%
64.05
%
65.89
%
67.26
%
Balance Sheet ratios:
Loan-to-deposit ratio
94.03
%
87.60
%
90.14
%
82.64
%
90.17
%
Non-interest-bearing deposits / total deposits
39.06
%
37.04
%
37.64
%
38.26
%
39.55
%
Demand deposits / total deposits
52.01
%
52.32
%
51.68
%
52.61
%
51.44
%
Asset quality:
Allowance for credit losses
$
13,733
$
12,712
$
12,689
$
12,689
$
12,496
Nonperforming assets
7,888
8,013
8,116
9,803
8,442
Allowance for credit losses / total loans and leases
1.19
%
1.16
%
1.17
%
1.22
%
1.22
%
Net charge-offs / average loans and leases (annualized)
0.00
%
0.00
%
0.00
%
0.00
%
0.00
%
Texas ratio (a)
6.78
%
7.04
%
7.37
%
9.38
%
8.42
%
Capital ratios for American Riviera Bank (c):
Tier 1 risk-based capital
12.40
%
12.69
%
12.54
%
12.56
%
13.39
%
Total risk-based capital
13.56
%
13.82
%
13.68
%
13.77
%
14.59
%
Tier 1 leverage ratio
11.25
%
11.16
%
10.55
%
10.69
%
11.78
%
Capital ratios for American Riviera Bancorp (c):
Tier 1 risk-based capital
11.36
%
11.63
%
11.48
%
11.49
%
11.61
%
Total risk-based capital
13.72
%
14.02
%
13.93
%
14.03
%
14.19
%
Tier 1 leverage ratio
10.32
%
10.22
%
9.66
%
9.78
%
10.16
%
Tangible common equity ratio
9.04
%
8.91
%
9.01
%
8.27
%
8.70
%
Equity and share related:
Common equity
$
134,815
$
131,306
$
127,670
$
122,054
$
117,611
Book value per share
23.41
22.84
22.35
21.38
20.24
Tangible book value per share
22.56
21.99
21.49
20.52
19.40
Tangible book value per share, excluding AOCI (d)
24.99
24.40
23.93
23.10
22.49
Stock closing price per share
25.60
23.60
23.90
21.99
19.27
Number of shares issued and outstanding
5,759.97
5,750.17
5,713.02
5,708.96
5,810.04
Notes:
(a) Sum of Nonperforming Assets and Other Real Estate Owned, divided by the sum of Total Shareholder Equity and Total Allowance for Credit Losses less Preferred Stock and Intangible Assets.
(b) Annualized Operating Expense excluding Provision for Credit Losses minus Annualized Extraordinary Expense, divided by Annualized Interest Income including Loan Fees minus Annualized Interest Expense plus Annualized Non-Interest Income minus Annualized Extraordinary Income, expressed as a percentage.
(c) Current period capital ratios are preliminary.
(d) Accumulated Other Comprehensive Income (AOCI) is comprised of the tax adjusted unrealized loss on securities and is presented as Other Capital on the Balance Sheet.
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Peabody Energy Corporation (NYSE: BTU) between October 14, 2024 to May 4, 2026, inclusive (the “Class Period”), of the important August 24, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Peabody Energy common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Peabody Energy class action, go to https://rosenlegal.com/cases/peabody-energy-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 24, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Peabody Energy’s Centurion mine and the multitude of issues causing delays to the ramp-up and the return to full longwall production dates. On March 30, 2026, Peabody Energy issued a press release lowering guidance pertaining to Centurion mine’s expected first quarter 2026 output ahead of Peabody Energy’s full earnings release. In pertinent part, defendants announced that sales volume from the Centurion mine was expected to deliver approximately 250,000 tons in the first quarter due to mining commissioning challenges (compared to previous estimates of around 700,000 tons). When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Peabody Energy class action, go to https://rosenlegal.com/cases/peabody-energy-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
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The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
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SAN FRANCISCO--(BUSINESS WIRE)--Apartment List, a leading AI-powered rental platform, today announced a new integration bringing its pay-per-lease model to AppFolio. This integration makes Apartment List a performance-based leasing option in the AppFolio Stack™ Marketplace – property teams pay when a lease is signed, not for clicks or leads. The expanded partnership furthers Apartment List's mission to match renters with homes they love and helps property teams connect with higher-intent renters.
Progress Software: Making Progress Driven by the AI RevolutionProgress Software NASDAQ: PRGS said it has entered into an agreement to acquire Domo’s AI and data platform business in a transaction valued at a headline purchase price of $400 million, executives said on a conference call discussing the deal.
Anthony Folger, chief financial officer of Progress Software, said the company is acquiring “substantially all the assets” of Domo and assuming only certain liabilities. Progress has also agreed to pay up to $15 million of seller transaction expenses. Folger said the purchase price includes a minimum acquired cash balance of $25 million and an estimated $35 million in net present value of tax benefits, resulting in a net purchase price of about $355 million.
Get Progress Software alerts:
Market Got It Wrong—Why Progress Software Deserves a Second LookBased on Domo’s fiscal 2026 results, Folger said the net purchase price represents a revenue multiple of “slightly more than one.” Progress plans to finance the acquisition with cash on hand and a portion of the current capacity on its revolving credit facility.
“Due to the strong deal economics, we don’t expect our pro forma net leverage ratio to be affected materially and believe it will remain under three times on a pro forma basis,” Folger said. He added that Progress intends to “deleverage quickly and aggressively” after the transaction closes.
Progress Software Stock Back in the Green After Beating ForecastsThe acquisition is subject to regulatory approvals and customary closing conditions. Folger said Progress expects the deal to close within its current fiscal year ending Nov. 30, 2026. He also said the company reiterated its third-quarter guidance “at or above the high end” of the range it provided last quarter.
Progress Points to AI and Data Platform Strategy Yogesh Gupta, chief executive officer of Progress Software, said the acquisition fits into the company’s AI product strategy by combining Domo’s cloud-native AI and data platform with Progress’ capabilities in structured and unstructured data management, data semantics and agentic retrieval-augmented generation, or RAG.
Gupta said enterprises need “context and control” to make AI effective, noting that organizational knowledge is often fragmented across systems of record, unstructured content and siloed applications.
“Ingesting, transforming, and aggregating this data is extremely difficult, and doing it at scale with security and governance is even harder,” Gupta said. “This is an area where Domo excels.”
Gupta described Domo’s platform as an intuitive, scalable and secure cloud-native AI and data platform that automates the ingestion and transformation of data from a wide range of sources. He said organizations can store data in Domo’s cloud platform or in partner cloud data warehouses such as Snowflake or Databricks.
According to Gupta, combining Domo’s offerings with the Progress Data Platform will help customers aggregate and interpret enterprise knowledge across both structured and unstructured data. He said the combined capabilities are intended to help AI agents use only the relevant subset of information needed for a task, rather than working across an overly broad data set.
“The end result is more accurate and more verifiable outcomes at dramatically lower costs,” Gupta said.
Domo Customer Base and Consumption Model Highlighted Gupta said more than 85% of Domo’s annual recurring revenue is now consumption-based, citing Domo’s previously announced results. He also said Domo has 2,400 customers and has pursued a partner strategy with cloud data warehouses.
During the question-and-answer portion of the call, Lawrence Vensko, an equity research associate at Guggenheim Securities, asked about what Progress is not taking on in the asset purchase. Folger said the assets left behind include Domo’s accumulated net operating losses and debt.
“Obviously, the debt is a significant liability, which is why we said we’re acquiring pretty much all the assets of the business and a good portion of their liabilities, excluding the debt,” Folger said.
Vensko also asked about retention rates. Gupta said Domo’s net retention and gross retention rates for its consumption-based business are “very similar to overall Progress,” and said data platform businesses tend to be sticky.
Executives Say Customer Overlap Is Limited Eric Martinuzzi, senior research analyst at Lake Street Capital Markets, asked about the prior business relationship between Progress and Domo and whether the companies had meaningful customer overlap. Gupta said there is some overlap, as is typical among enterprise software companies, but he did not characterize it as significant.
Martinuzzi also asked about potential cash proceeds for Domo shareholders. Gupta and Folger said that question was for Domo, noting that Progress is buying assets and certain liabilities, while decisions about the remaining business would be made by Domo.
Progress Declines to Detail Synergies Before Close Lucky Schreiner, vice president and research analyst at D.A. Davidson, asked about Domo’s recent growth outlook and margin profile, including potential cost synergies. Gupta declined to identify specific areas before the deal closes, but said Progress has a track record of acquiring companies that were barely break-even and bringing margins closer to Progress’ profile over time.
Schreiner also asked whether Progress plans to move the rest of Domo’s customer base to consumption pricing. Gupta said Domo has been moving customers from a seat-based licensing model to a consumption-based model for roughly two and a half to three years, but said Progress would provide more detail after the close.
Asked about confidence in driving growth given trends among business intelligence peers, Gupta said Progress sees opportunity in Domo’s consumption customer base and in combining the two companies’ products. He noted that Progress is not expecting rapid growth overall, saying the company has previously discussed expectations for approximately 2% ARR growth this year.
Gupta closed the call by saying Progress is “excited” about Domo’s AI and data platform business and expects to provide more information when the deal closes.
About Progress Software (NASDAQ:PRGS)Progress Software NASDAQ: PRGS is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company's offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.
Key products in Progress's portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.
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Michael Micciche - Senior Vice President of Investor Relations
Anthony Folger - Executive VP, CFO & Treasurer
Yogesh Gupta - CEO, President & Director
Conference Call Participants
Lawrence Vensko - Guggenheim Securities, LLC, Research Division
Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division
Lucky Schreiner - D.A. Davidson & Co., Research Division
Nolan Bruce Jenevein - Oppenheimer & Co. Inc., Research Division
Presentation
Operator
Good day, and welcome to the Progress Software to acquire Domo's AI and Data Platform Business Call. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker, Mr. Mike Micciche, Senior Vice President of Investor Relations. Please go ahead.
Michael Micciche
Senior Vice President of Investor Relations
Okay. Great. Thanks, Sherry. Good afternoon, everybody, and thank you for joining us today. Yogesh Gupta, our CEO; and Anthony Folger, our CFO, are on the call with me today. As you likely saw, Progress just announced our proposed acquisition of Domo's AI and data platform business. You can find the press release on the Investor Relations section of our website at investors.progress.com, along with a supplemental slide deck.
Before we get started, we need to remind you that during this call, we may make forward-looking -- discuss forward-looking items, including our outlook perspective, financial and operating performance, corporate strategies, product plans, cost initiatives and other information that might be considered forward-looking, including the timing and potential results associated with our proposed acquisitions. This forward-looking information represents Progress Software's outlook and the potential impact of Domo's AI and data platform acquisition only as of today, and is subject to risks and uncertainties, and the actual results may differ.
