LOS ANGELES, July 22, 2026 (GLOBE NEWSWIRE) -- Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming September 8, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Intuit Inc. (“Intuit” or the “Company”) (NASDAQ: INTU) securities between August 22, 2025 and May 20, 2026, inclusive (the “Class Period”).
IF YOU SUFFERED A LOSS ON YOUR INTUIT INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On May 20, 2026, Reuters published an article stating that “Intuit . . . is laying off about 17% of its workforce, or about 3,000 employees worldwide, to streamline operations and sharpen focus on its key bets including its AI efforts” and that the Company “is also winding down its Reno and Woodland Hills offices as part of a strategic restructuring to consolidate teams in key hubs, according to the memo.”
On this news, Intuit’s stock price fell $15.78, or 3.95%, to close at $383.93 per share on May 20, 2026, thereby injuring investors.
The same day, after market hours, Intuit released its fiscal third quarter 2026 financial results, reporting weak revenue, including TurboTax revenue that grew by only 7% year-over-year, versus consensus estimates of at least 8% revenue growth due to “[facing] pressure among the most price-sensitive DIY filers earning less than $50,000 a year” and that the Company “lost on price.” Additionally, the Company disclosed that TurboTax online paying units were expected to grow by only 2% as total IRS filers were expected to decline by approximately 30 basis points, representing the “most significant industry-wide contraction since the post-COVID tax season.”
On this news, Intuit’s stock price fell $76.86, or 20.02%, to close at $307.07 per share on May 21, 2026, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) they had overstated Intuit’s competitive advantages and growth, as well as the overall strength and sustainability of its business model and operations; (2) in reality, Intuit was losing significant business in its tax-related business, particularly in its Turbo Tax business, as a result of, inter alia, increasing competitive and pricing pressures; (3) accordingly, Intuit’s previously issued FY 2026 TurboTax revenue growth guidance was unreliable and/or unrealistic; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Intuit securities during the Class Period, you may move the Court no later than September 8, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
Intuit has debuted a new small business-focused credit card in collaboration with Mastercard.
The World Elite Business Mastercard, announced Wednesday (July 22), is designed to sync with Intuit’s QuickBooks platform to help businesses manage spending, access credit and get a handle on their financial health from a single place.
“We know businesses don’t have a one-size-fits-all need for capital, which is why we’re building a range of capital solutions on the Intuit platform,” David Hahn, executive vice president and general manager of Intuit’s services group, said in a news release. “The Intuit Business Credit Card introduces a smarter way to power business growth with critical controls and value on every dollar spent. This is an important part of Intuit’s broader commitment to building the capital solutions small businesses need to grow with confidence.”
The release points to in-house findings from Intuit showing that businesses that use financing are almost twice as likely to be “in an active growth phase” than businesses who rely on personal funds.
“Yet many businesses still lack timely access to capital and real-time visibility into their financial health, relying on disconnected tools and manual processes to manage spending, accounting, and financing,” the release said.
Intuit argues its new card addresses this by combining spending, credit, and financial data, allowing for “smarter cash flow control, confident spending, and growth opportunities.”
Research by PYMNTS Intelligence and Mastercard has found that a sizable number of small- to medium-sized businesses (SMBs) don’t use a business credit card, with 30% saying they use personal cards to cover work-related expenses.
“With small businesses alone numbering 36 million in the United States and driving 43.5% of U.S. GDP, it all adds up to a lot of missed opportunity for card issuers,” PYMNTS wrote earlier this year.
More recently, PYMNTS spoke with Ginger Siegel, North America small and medium business lead at Mastercard, about some of the working capital burdens facing SMBs.
“The biggest challenge that small businesses face is really around cash flow uncertainty and everything that cascades from it,” Siegel said in an interview earlier this week, adding that lag times require owners to tap into personal reserves or credit lines.
Siegel went on to say that many businesses also lose purchasing opportunities while waiting for funds to settle, a burden compounded by administrative work that falls to owners who often oversee finance, operations and customer service on their own.
“The card is becoming more than a payment vehicle, and in fact is becoming a salve against those pain points,” PYMNTS wrote.
See More In: credit, credit cards, Intuit, Mastercard, News, partnerships, PYMNTS News, QuickBooks, small businesses, What's Hot, working capital
After a massive 170% rally in 2025, silver prices have lost momentum this year, declining 15.6% year to date. Prices recently touched a year-to-date low of $55 per ounce amid rising oil prices, a stronger U.S. dollar and higher interest rate expectations. This clouds the near-term outlook for the Zacks Mining - Silver industry. Although underlying demand remains resilient, inflation will drive up operating costs, squeezing margins.
We recommend considering companies such as First Majestic Silver (AG - Free Report) , Vizsla Silver (VZLA - Free Report) which will benefit from enhanced operational efficiency, disciplined cost management and solid projects.
About the Industry The Zacks Mining - Silver industry comprises companies that are engaged in the exploration, development and production of silver. These include big and small players operating mines of widely varying types and scales. Silver-bearing ores are mined by open-pit or underground methods and then crushed and ground. Miners continually look for opportunities to expand their reserves and resources through targeted near-mine exploration and business development. They strive to upgrade and improve the quality of their existing assets, internally and through acquisitions. Only 20% of silver comes from mining activities, wherein silver is the primary revenue source. The balance comes from projects wherein silver is a by-product of mining other metals, such as copper, lead and zinc. Thus, several companies in the silver mining industry are engaged in mining other metals.
What's Shaping the Future of the Mining-Silver Industry Silver Prices Pull Back After Record Rally: Silver surged 170% in 2025, even outpacing gold’s 66.5% gain, driven by elevated geopolitical risks, economic uncertainty, resilient demand and tightening inventories. Also, 2025 marked a sharp reversal in ETF trends, with strong inflows after consecutive years of outflows, one of the key catalysts behind silver’s breakout. The bullish outlook was further strengthened after the U.S. Geological Survey added silver to its 2025 List of Critical Minerals, a move expected to support domestic production through favorable policies and faster permitting. The rally extended into early 2026, with silver hitting a record high of $121.64 per ounce in late January. However, prices later retreated, touching a year-to-date low of $55 per ounce on July 17 amid rising oil prices, a stronger U.S. dollar and higher interest rate expectations fueled by escalating Middle East tensions. Silver has since rebounded to around $59.5 per ounce on renewed safe-haven demand and technical buying ahead of next week's Federal Reserve meeting. Despite the recovery, silver remains down 15.6% year to date, though it is still approximately 126% higher than its year-ago level.
Inflationary Costs to Hurt Margins: Industry players are facing escalating production costs, including electricity, wages, water and materials. Mining companies are major consumers of energy, with around 50% of their production costs closely linked to energy prices. Surging oil prices, spurred by the Iranian conflict, remain a headwind. A shortage of skilled workforce spiked wages. With no control over silver prices, the industry must focus on improving its sales volumes while being cost-effective. Players are investing heavily in R&D and resorting to technological innovations required at almost every level of operation to increase efficiency, sustain growth and rein in costs.
Strong Demand Underpins the Industry: Industrial applications account for roughly 59% of the total demand, with the solar energy industry being one of the main drivers. Silver use in photovoltaic (PV) technology has climbed sharply in recent years due to the increasing global adoption of solar technology, advances in solar cell design and the global push for renewable energy. Per the International Energy Agency (IEA), global renewable power capacity is expected to double between 2025 and 2030. Solar PV will account for 80% of the increase, given its low costs, faster permitting and rising social acceptance. Silver has been used by the automotive industry for many years, and there has been a steady increase in the use of electrical and electronic components driven by demand for enhanced safety features and improved functionality. The electrification of the automotive industry has boosted demand further. Battery electric vehicles use significantly more silver than hybrids or internal combustion engine vehicles, while the growing number of electronic control units further boosts consumption. Rapid digitalization and the rise of AI are emerging as powerful new demand drivers for silver. As economies transition toward clean energy, electrification and AI-led digital infrastructure, silver is increasingly cementing its role as a critical “next-generation metal.”
Zacks Industry Rank Indicates Lackluster Prospects The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates gloomy prospects in the near term. The Zacks Mining – Silver industry, a 10-stock group within the broader Zacks Basic Materials sector, currently carries a Zacks Industry Rank #189, which places it in the bottom 23% of 247 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.
Despite the bleak near-term prospects, we will present a few Mining-Silver stocks that you can add to your portfolio, given their prospects. But it is worth looking at the industry’s shareholder returns and current valuation first.
Industry Versus Broader Market The Mining-Silver Industry has outperformed the sector and the Zacks S&P 500 composite over the past year. The stocks in this industry have collectively gained 71% in the past year compared with the Basic Material sector’s 17.9% rise. Meanwhile, the Zacks S&P 500 composite has risen 20.9%.
One-Year Price Performance
Industry's Current Valuation Based on the trailing 12-month EV/EBITDA ratio, a commonly used multiple for valuing silver-mining companies, we see that the industry is currently trading at 9.15X compared with the S&P 500's 18.54X and the Basic Material sector's trailing 12-month EV/EBITDA of 12.81X. This is shown in the charts below.
Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio
Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio
In the past five years, the industry has traded as high as 21.50X and as low as 7.98X, with the median being 14.32X.
2 Mining-Silver Stocks to Keep an Eye On First Majestic Silver: The company recently reported that it has produced 3.8 million silver ounces in the second quarter, a year-over-year increase of 3%, primarily driven by strong performances at La Encantada and Santa Elena. Gold production rose 2% to 34,660 ounces, driven by strong production at Santa Elena. With strong production results so far in 2026 and the company’s successful progress on throughput expansions across all mine sites as well as continued operating efficiencies, the 2026 attributable consolidated production guidance has increased to 14.6 – 15.5 million silver ounces, a 10% increase from the original guidance of 13.0 – 14.4 million, as well as a 7% increase to 128,000 – 135,000 gold ounces compared with the original guidance of 116,000-129,000 gold ounces. Management has increased the 2026 capital budget to a range of $318-$344 million to support key growth initiatives, including the Jerritt Canyon restart program, development projects at Santa Elena including Navidad and the early advancement of underground access to Santo Niño for near-term mining, further development across San Dimas, Los Gatos and La Encantada, and the acquisition of additional equipment to enhance and sustain higher throughput rates at Los Gatos.
Price & Consensus: AG
Vizsla Silver: The company is advancing its flagship, 100%-owned Panuco silver-gold project in Sinaloa, Mexico, which is one of the highest-grade silver primary discoveries in the world. It is targeting the first silver production in the second half of 2027. The company completed the Feasibility Study for Panuco in November 2025, which highlighted 17.4 million ounces of silver equivalent of annual production over an initial 9.4-year mine life. Vizsla Silver aims to position itself as a leading silver company by implementing a dual-track development approach at Panuco, advancing mine development while continuing district-scale exploration through low-cost means. Last year, the company acquired the Santa Fe Project, including both production and exploration concessions. With an option agreement now in place on the Santa Fe production concessions, Vizsla Silver has the potential to bolster its overall production profile well beyond the 20.2 million silver-equivalent ounces of initial annual production envisioned for Panuco Project #1.
The Zacks Consensus Estimate for this Vancouver, Canada-based player’s 2026 bottom line is currently pegged at a loss of two cents per share. The estimate has moved up from the loss of four cents per share projected 90 days ago. VZLA currently carries a Zacks Rank of 2.
, /PRNewswire/ -- The Board of Directors of Air Products (NYSE: APD) today declared a quarterly dividend of $1.81 per share of common stock.
The dividend is payable on November 9, 2026 to shareholders of record at the close of business on October 1, 2026.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global hydrogen supplier, Air Products develops, engineers, builds, owns and operates some of the world's largest hydrogen projects. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.
Air Products had fiscal 2025 sales of $12.0 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.
The AI boom is driving insatiable demand for chips. As a result, investors have piled into semiconductor stocks.
However, semis are only part of the story. The AI boom is driving widespread demand for everything from capital to natural gas to warehouse space. Despite that, many of these companies are flying under the radar. Here are three of the best-kept secrets of the AI investment boom.
Image source: Getty Images.
Brookfield Corporation Brookfield Corporation (BN -0.90%) is a leading global investment firm. It might seem an unlikely beneficiary of the AI boom. However, one of the biggest constraints many AI developers face is a lack of capital. They need money to fund data center developments, chip purchases, and other capital investments. Brookfield estimates that total spending on AI-related infrastructure will exceed $1 trillion this decade and $7 trillion over the next 10 years.
The company wants to capitalize on this once-in-a-generation opportunity to build the digital backbone of the AI economy. One way it's doing that is by launching the first of what could be many dedicated AI infrastructure funds. Brookfield is a cornerstone investor in its inaugural fund, which aims to acquire up to $100 billion in AI infrastructure assets. Some of its initial investments include funding the deployment of advanced fuel cells to power AI data centers and launching a new company to provide full-stack AI services to customers. Additionally, Brookfield's operating companies are investing in semiconductor manufacturing, data center developments, and renewable energy. The company's AI infrastructure investments are part of its strategy to drive 25% annual earnings growth over the next five years.
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Energy Transfer Energy Transfer (ET +0.91%) is a master limited partnership (MLP), an entity that sends a Schedule K-1 Federal tax form. It focuses on owning, operating, and developing energy infrastructure. Its diversified platform spans oil and gas pipelines, storage terminals, and export facilities.
Another major constraint facing AI data center developers is energy. These facilities require a tremendous amount of power to run chips at maximum capacity and prevent overheating. That's leading them to turn to any available clean power source, including natural gas.
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This trend is providing Energy Transfer with several opportunities to expand its already extensive gas infrastructure operations. It's building a few large-scale pipelines to support increased gas flows. Additionally, it's constructing several pipeline laterals to gas-fired power plants and data centers. Meanwhile, it's pursuing multiple additional gas infrastructure projects it expects to approve. These investments will meaningfully boost its cash flow in the coming years.
Prologis Prologis (PLD -3.22%) is a leading real estate investment trust (REIT). The company primarily owns and develops warehouses. Demand for space in its properties is broadening to include customers who support the build-out of digital infrastructure. It estimates that every $1 trillion in data center capex will generate 30-40 million square feet of additional logistics demand. With McKinsey estimating that data center capex will reach nearly $7 trillion by 2030, it should drive years of growth for Prologis.
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However, warehouses aren't the REIT's only growth drivers. It has also been expanding its energy platform, which includes installing on-site solar, battery storage, and fuel cells, and has begun developing data centers. The REIT has already started $2.1 billion in new data center projects this year, bringing its total investment in the space to nearly $4 billion. It currently has 5.8 gigawatts (GW) of projects in the pipeline, which should support this business's growth through 2030. Prologis sees the potential to develop over 10 GW of data centers over the next decade.
With strong growth in its legacy warehouse business and energy and data center growth accelerators, Prologis has a bright future.
Hidden gems in the AI boom AI needs a lot more than semiconductors to thrive. It also requires capital, power, data centers, and logistics. That's a boon for Brookfield, Energy Transfer, and Prologis, which are all capitalizing on different aspects of the AI investment megatrend.
Key Takeaways Extra Space Storage is expected to report higher Q2 revenues and FFO per share year over year.EXR's diversified portfolio, strong brand and recession-resilient demand support expected top-line growth.Competitive pressure in the fragmented self-storage market may have weighed on pricing during the quarter. Extra Space Storage (EXR - Free Report) , a leading self-storage real estate investment trust (REIT) in the United States, is set to release its second-quarter 2026 results on July 28, after market close. The company’s quarterly results are likely to display a year-over-year rise in revenues and funds from operations (FFO) per share.
In the last reported quarter, this Salt Lake City, UT-based REIT reported FFO per share of $2.04, surpassing the Zacks Consensus Estimate of $2.01. Results reflected a year-over-year increase in same-store NOI. However, lower occupancy during the quarter was a spoilsport.
The company beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 1.11%. The graph below depicts this surprising history:
Factors to Consider & Projections for EXRIn the second quarter, Extra Space Storage is likely to have gained from its high brand value, geographically diversified portfolio and presence in key cities in the United States. The self-storage asset category is need-based and recession-resilient in nature. The self-storage industry continues to benefit from favorable demographic changes. Collectively, these factors are likely to have contributed to the company’s top-line growth.
The Zacks Consensus Estimate of $738.7 million for quarterly property rental revenues suggests an increase from the year-ago period’s $721 million. The consensus estimate for revenues from tenant reinsurance is pegged at $91.3 million, up from the year-ago reported figure of $88.6 million. The consensus mark for management fees and other income for the quarter stands at $34.2 million, slightly up from $32 million in the year-ago period.
The Zacks Consensus Estimate of $867.4 million for quarterly revenues suggests a 3.07% increase year over year.
Extra Space Storage’s activities during the second quarter were adequate to gain analysts’ confidence. The Zacks Consensus Estimate for the quarterly core FFO per share has moved a cent upward to $2.06 over the past two months. It also indicates a 0.5% rise from the year-ago reported figure.
However, EXR operates in a highly fragmented market in the United States, facing intense competition from numerous operators. This competitive environment is likely to have weighed on pricing in the to-be-reported quarter.
What Our Quantitative Model Predicts for EXROur proven model likely predicts a surprise in terms of core FFO per share for Extra Space Storage this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.
Extra Space Storage currently has an Earnings ESP of +0.39% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks That Warrant a LookHere are two stocks from the broader REIT industry — BXP, Inc. (BXP - Free Report) and Cousins Properties (CUZ - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.
BXP, which is scheduled to report quarterly results on July 28, has an Earnings ESP of +0.18% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cousins Properties is slated to report quarterly numbers on July 30. CUZ has an Earnings ESP of +0.45% and carries a Zacks Rank of 3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
The Zacks Semiconductors - Radio Frequency industry is benefiting from increasing RF complexity required to support AI-enabled devices. AI workloads running at the edge require better uplink performance, lower latency and higher power efficiency, which translates into more RF content per device. As AI capabilities become standard across smartphones and connected devices, manufacturers require more filters, antennas and advanced RF front-end modules, creating a long-term demand tailwind for RF semiconductor suppliers like Skyworks (SWKS - Free Report) and RF Industries (RFIL - Free Report) . The transition toward 6G, WiFi 7, WiFi 8 and satellite connectivity is significantly increasing the complexity of wireless communications. Diversification into WiFi infrastructure, AI data centers and automotive electronics is benefiting industry participants. However, the industry is suffering from inflationary pressure from higher material costs and a volatile supply-chain environment shaped by tariff uncertainty and geopolitical risks.
Industry Description The Zacks Semiconductors - Radio Frequency Industry comprises companies that provide radio frequency solutions, front-end modules, low-noise amplifiers, diodes, multi-chip modules, optical components, surface acoustic wave, bulk acoustic wave technology-based antenna-plexers and film bulk acoustic resonator filters to enable smartphone devices to function more efficiently in the congested RF spectrum. They serve a wide array of industries with their solutions, finding ample applications in 5G and smartphone equipment, aerospace and defense, optical networks, cellular base stations, automotive and smart home applications. Most of these companies utilize robust wafer fabrication technologies, as well as ZigBee, Bluetooth Low Energy, Thread, silicon germanium and Gallium Nitride technologies, to stay ahead of the competition.
3 Trends Influencing the Prospects of the Semiconductors - RF Industry Accelerated 5G Deployment Acts as a Tailwind: The rapid implementation of 5G networking infrastructure and the robust adoption of cloud computing applications look promising for the wireless communication market. The coronavirus crisis-induced work-from-home wave has necessitated the need for higher bandwidth and triggered LTE advancements, which are expected to bolster the demand for RF power amplifiers. Increasing RF content in the latest 5G smartphones is a key catalyst. The growing demand for WiFi hotspots, as the number of wirelessly connected devices increases in households, is enhancing industry prospects.
Innovation Opens up Business Avenues: The rapid proliferation of IoT, wearables, drones, VR/AR devices, autonomous cars and ADAS is expected to drive the demand for RF semiconductor products beyond smartphone devices, favoring industry prospects. RF Semiconductors are setting the pace for technology modernization by digitizing aspects like connectivity, healthcare, transport and defense. The diversified utilization of RF Semiconductor products bodes well for the industry players. The evolution of semiconductor manufacturing processes from 10 nanometers (nm) to 7 nm, and even 5 nm and 3 nm technology, is anticipated to bolster the industry prospects. The rollout of bands and band combinations has led to considerable design challenges for OEM smartphone manufacturers. Industry participants are looking to address these challenges with a robust range of antenna-plexer portfolios utilizing the BAW technology.
Growing Adoption of Electric Vehicles Aids Prospects: Industry players are gaining from the increasing inclusion of their products in electric vehicles (EVs). The market for EVs is expected to expand fourfold by 2027.
Zacks Industry Rank Indicates Bullish Near-Term Prospects The Zacks Semiconductors - Radio Frequency Industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #48, which places it in the top 19% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bullish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. The industry’s earnings estimates for 2026 have moved up by 7.7% since Jan. 31, 2026.
Given the bright prospect, there are a few stocks worth watching in the industry. However, before we present the top industry picks, it is worth looking at the industry’s shareholder returns and current valuation first.
Industry Lags S&P 500 and Sector The Zacks Semiconductors - Radio Frequency Industry has underperformed the S&P 500 and its broader sector over the past year. The industry has declined 15.8% over this period against the S&P 500’s return of 21% and the broader sector’s appreciation of 30.7%.
One-Year Price Performance
Industry's Current Valuation On the basis of the forward 12-month price-to-earnings ratio (P/E), which is a commonly used multiple for valuing the Semiconductors - Radio Frequency stocks, the industry is currently trading at 12.16X, lower than the S&P 500’s 20.85X and the sector’s 25.19X.
Over the past five years, the industry has traded as high as 18.71X and as low as 7.89X, with the median being 14.53X, as the charts below show.
Forward 12-Month P/E Ratio
2 Radio Frequency Stocks to Watch RF Industries: Shares of this Zacks Rank #2 (Buy) company have moved up 129.6% year to date. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
RF Industries is benefiting from a more diversified growth profile as demand expands beyond its traditional telecom business into aerospace, edge data centers, transportation and industrial markets. The company highlighted record second-quarter 2026 bookings of more than $26 million, a backlog of approximately $20 million and improving customer engagement, particularly for integrated solutions rather than individual components. It is also pursuing large multi-site network deployment opportunities that combine products with installation and logistics services, supporting better revenue visibility for the second half of fiscal 2026.
The Zacks Consensus Estimate for RFIL’s fiscal 2026 earnings has been steady at 69 cents per share over the past 30 days.
Price and Consensus: RFIL
Skyworks: This Zacks Rank #3 (Hold) company is increasingly driven by diversification beyond smartphones. The company secured a multigenerational premium Android design win expected to generate more than $1 billion in revenue through 2030 while expanding its presence in AI-enabled devices. It also sees sustained growth from increasing RF content per device as AI workloads, WiFi 7/8, 6G, satellite connectivity and advanced wireless standards require more filters, antennas and higher-performance RF front-end solutions.
Skyworks shares have dropped 0.8% year to date. The Zacks Consensus Estimate for SWKS’ fiscal 2026 earnings has been steady at $5.05 per share over the past 30 days.
Key Takeaways Palo Alto Networks is adding Embrace's RUM technology and launching Synthetics for observability.PANW's Observability platform has surpassed $300 million in annual recurring revenues.New capabilities will integrate with Cortex AgentiX to automate remediation and expand platform adoption. Palo Alto Networks (PANW - Free Report) is expanding its Observability platform with the acquisition of Embrace, a provider of Real User Monitoring (RUM), and the launch of Synthetics, a new monitoring solution developed by its Autonomous Digital Experience Management team. These additions are expected to expand Palo Alto Networks' observability capabilities from infrastructure and application monitoring to Digital Experience Monitoring.
Embrace's RUM technology helps organizations understand how applications perform from the user's perspective by tracking actual user interactions, while Synthetics continuously tests applications from different locations to identify performance issues before they affect users. Palo Alto Networks said combining these capabilities with its existing observability platform will allow customers to monitor user experience, application performance and backend infrastructure through a single platform.
The acquisition builds on Palo Alto Networks' growing observability business. Following the Chronosphere acquisition earlier this year, Palo Alto Networks' Observability platform has surpassed $300 million in annual recurring revenues in the third quarter of fiscal 2026. As AI applications and modern software environments become more complex, PANW's observability platform remains well poised to witness further growth on the back of rising demand for unified observability solutions that provide complete visibility across applications and infrastructure.
The Embrace acquisition also supports Palo Alto Networks' broader platform strategy. Management said the new capabilities will integrate with Cortex AgentiX, allowing organizations not only to identify performance issues but also to automate remediation. As enterprises continue to modernize applications and deploy AI workloads, expanding its observability platform could help Palo Alto Networks increase customer adoption and create additional cross-selling opportunities across its broader security portfolio.
How Competitors Fare Against PANWCompetitors like CrowdStrike (CRWD - Free Report) and Zscaler (ZS - Free Report) are also gaining ground through platform expansion and AI innovation through acquisitions.
CrowdStrike is strengthening its Falcon platform by acquiring the intellectual property of XM Cyber. The deal includes more than 45 patents and proprietary source code related to attack path analysis and exposure management. Adding XM Cyber's attack path analysis technology should help improve the Falcon platform's ability to identify attack paths and prioritize security risks, and help organizations understand how attackers can move through their networks by combining multiple vulnerabilities.
In May 2026, Zscaler announced its intent to acquire Symmetry Systems, which provides an access graph that maps how identities, applications and data sources connect across the enterprise. Through this acquisition, Symmetry Systems’ technology will be integrated with Zscaler’s Zero Trust Exchange platform to strengthen agentic security use cases, providing organizations with control over how AI agents interact with applications and data.
PANW’s Price Performance, Valuation & EstimatesShares of Palo Alto Networks have jumped 85.7% in the year-to-date period compared with the Zacks Security industry’s return of 70%.
PANW’s YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Palo Alto Networks trades at a forward price-to-sales ratio of 20.40X compared with the industry’s average of 18.93X. The Zacks Value Score of F also suggests that PANW stock is overvalued.
PANW Forward 12-Month P/S Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Palo Alto Networks’ fiscal 2026 and 2027 earnings implies year-over-year growth of 12.9% and 8.1%, respectively. The estimates for fiscal 2026 and 2027 have been revised up by 6 cents and 8 cents, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Palo Alto Networks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Companies rarely get rewarded for issuing more shares. Dilution reduces existing shareholders’ ownership percentage, and investors usually view it as a warning sign that management needs more capital. But Strategy (NASDAQ:MSTR | MSTR Price Prediction) has spent years convincing shareholders that dilution can be productive if the money raised increases the value of the company’s Bitcoin (CRYPTO:BTC) holdings or strengthens its balance sheet.
That unusual strategy has made Michael Saylor’s company one of the market’s most debated stocks. Strategy is no longer simply a software company holding Bitcoin on its balance sheet. It has become a capital markets machine built around issuing securities, managing liquidity, and maintaining its position as the largest corporate Bitcoin holder.
The latest move asks investors to accept another round of dilution in exchange for a stronger financial cushion.
Strategy Sold Stock to Build Its Cash Safety Net Strategy sold approximately $263.5 million of Strategy shares over the prior week while purchasing zero Bitcoin — the second straight week it has declined to make any purchases. Instead of immediately adding to its cryptocurrency holdings, the company used capital markets to increase its U.S. dollar reserve.
That decision marks a shift from Strategy’s earlier playbook. For years, the company raised money primarily to buy more Bitcoin, betting that increasing its Bitcoin holdings would create value for shareholders. Now, the focus is liquidity.
Strategy maintains its dollar reserve to support obligations tied to its preferred stock dividends and debt payments. The company said its USD Reserve reached approximately $3.2 billion, including expected proceeds from ATM share sales that had not yet settled.
Investors saw their ownership stake cut by roughly 2% in exchange for a larger liquidity buffer.
For Strategy, that calculation depends on two things:
The value of its Bitcoin holdings. The company’s ability to access capital markets at favorable prices. Strategy reported holding 843,775 Bitcoin with an aggregate purchase price of approximately $63.69 billion, or an average purchase price of $75,476. Bitcoin currently goes for around $65,925, meaning it is underwater by about 25% on paper.
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Yet, that Bitcoin position is the foundation of the entire investment thesis. If Bitcoin rises over time, shareholders may benefit from owning exposure through a company that can continue expanding its holdings and managing liquidity.
However, the reverse is also true. If Bitcoin declines and Strategy’s stock loses more of its premium compared with the value of its cryptocurrency holdings, issuing additional shares becomes less attractive. The company’s ability to turn dilution into shareholder value depends on maintaining investor confidence.
The Risk Is That Investors Stop Paying the Premium Strategy’s biggest advantage has historically been that investors valued MSTR shares above the underlying value of its Bitcoin holdings. That premium allowed the company to sell stock, buy Bitcoin, and potentially increase Bitcoin exposure per share. But that advantage is not guaranteed.
Recent market pressure has destroyed Strategy’s valuation premium compared with its Bitcoin holdings, creating a tougher environment for the company’s capital strategy. And it began selling Bitcoin.
Granted, building a cash reserve is not the same as abandoning the Bitcoin strategy. A stronger balance sheet can give Strategy more flexibility during market downturns. But Strategy’s primary strategy now is to pay the dividends on its preferred stock, not maximize retail investor value. That’s what the USD Reserve does.
Still, the same investors who dislike dilution today may benefit if the additional liquidity allows the company to avoid selling Bitcoin during a weak market.
Key Takeaway In short, Strategy is asking shareholders to accept a familiar trade: more dilution today in exchange for a stronger financial position tomorrow.
That trade makes sense only if investors believe Saylor can continue creating value through disciplined capital management and Bitcoin ownership growth. The company’s strategy is not low-risk, and dilution will remain a major concern for shareholders.
But the latest stock sale is not about buying more Bitcoin. It is about ensuring Strategy has enough financial flexibility to survive Bitcoin’s volatility for the benefit of preferred shareholders. For investors who believe Bitcoin has a long-term upward trajectory, that reserve may ultimately prove valuable. For investors looking for a straightforward Bitcoin investment without corporate financing complexity, owning Bitcoin directly or buying spot ETFs is still the simpler — and better — option.
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Copper is giving back ground again. COMEX copper futures (HG) traded at 34.3700 as of the 10:00 AM ET, down from yesterday’s close of 34.7600 and sitting 3.51% below the five-day high of 35.6200 set July 20. The pullback comes as global copper inventories sit at their highest level since 2003, roughly 4.5 weeks of consumption, raising fresh doubts about the pace of demand from AI data centers, EVs, and electrification build-outs.
For copper equities, every dime move in the underlying commodity flows almost directly to cash flow. Below, we rank the five NYSE-listed copper miners most exposed to a continued slide, from highest downside sensitivity to lowest.
1. Ero Copper (ERO): The Highest-Beta Name Ero Copper (NYSE:ERO) carries the smallest market cap of the group at $2.86 billion and the highest cost structure. Full-year 2026 C1 cash costs are guided at $2.15 to $2.35 per pound, versus net debt of $490.7 million. That combination of leverage and thin margins makes Ero the most cost-sensitive name in the group. Shares carry a beta of 1.584 and trade at a forward P/E of 6x, cheap for a reason. Q1 revenue of $263.2 million missed the Street’s $341.8 million mark. The analyst consensus target of $35.20 assumes copper stays firm; a sustained retreat would test that thesis quickly.
2. Freeport-McMoRan (FCX): Volume-Constrained but Highly Levered Freeport-McMoRan (NYSE:FCX | FCX Price Prediction) is the largest US-listed pure-play copper producer at a $92.36 billion market cap. Management has flagged that every $0.10 per pound move in copper materially shifts cash flow across its 3.1 billion pound annual sales base. Q1 2026 revenue rose 12.2% to $6.23 billion on realized copper of $5.78 per pound. The Grasberg mud-rush still limits production to roughly 65% of capacity through the second half of 2026, dampening upside torque but not blunting downside. Options positioning skews defensive: the full-chain put/call ratio sits at 0.82, with the August 21 expiration running an outsized 6.28. Shares are down 8.8% over the past month.
3. Teck Resources (TECK): Merger Overhang Meets Copper Weakness Teck Resources (NYSE:TECK) has already been the weakest performer in the group, down 5.43% in the past week and 11.7% over the past month. Q1 2026 revenue jumped 72.2% to $2.78 billion on record copper sales of 155,100 tonnes. But the pending Anglo American merger, targeting roughly $800 million in annual pre-tax synergies, layers regulatory risk on top of commodity risk. Guided 2026 net cash costs of $1.85 to $2.20 per pound leave less cushion than the group’s low-cost leaders.
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4. Hudbay Minerals (HBM): Gold Cushion Softens the Blow Hudbay Minerals (NYSE:HBM) is partially insulated. Gold by-product credits contribute 39% of gross revenue, and consolidated cash costs came in at a stunning negative $1.80 per pound of copper in Q1, far below the guided negative $0.30 to negative $0.10. Realized gold of $4,468 per ounce is doing heavy lifting. Q1 revenue rose 27.3% to $757.3 million, and 22 of 23 covering analysts rate the stock Buy or Strong Buy, per Alpha Vantage’s consensus of 8 Strong Buy and 14 Buy ratings. Bank of America carries a $32.50 target. Still, with a beta of 2.252, HBM trades violently on copper headlines.
5. Southern Copper (SCCO): Best Positioned to Absorb the Drop Southern Copper (NYSE:SCCO) is the group’s fortress balance sheet. Q2 2026 operating cash cost per pound collapsed to $0.05, from $0.63 a year earlier, on the back of by-product credits and higher grades at legacy mines. Revenue jumped 40.6% to $4.29 billion, with adjusted EBITDA margin of 66.6%. At a $156.86 billion market cap and forward P/E of 39x, valuation is stretched, but the operating profile means SCCO stays profitable through moves that would pressure higher-cost peers.
Conclusion Today’s modest copper pullback is a stress test more than a shock. If HG copper breaks below the July 15 low of 33.4100, the pain will not fall evenly: Ero and Freeport carry the most direct downside torque, Teck adds M&A execution risk, and Hudbay and Southern Copper have real by-product buffers. The bull case, S&P Global’s projected 42 million tonnes of copper demand by 2040, is intact. Whether the trade holds through inventory overhang and softer near-term demand is the question worth watching.
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CLEVELAND, July 22, 2026 /PRNewswire/ -- The Board of Directors of The Sherwin-Williams Company (NYSE: SHW) today announced a regular quarterly dividend of $0.80 per common share, payable on September 11, 2026, to shareholders of record on August 21, 2026.
I rate Atmos Energy a buy, supported by a $26 billion capital plan poised to nearly double its rate base by FY2030. ATO's rapid conversion of capital spending to earnings, with over 90% earning within six months, underpins a visible EPS growth trajectory. Texas pipeline operations offer additional regulated growth, with APT's expanding rate base and robust demand drivers supporting long-term returns.
Key Takeaways Cardinal Health will acquire two home-care businesses for about $360 million in cash.The deals add over 245,000 patients annually across diabetes, urology and related care.Both acquisitions are expected to lift non-GAAP EPS within 12 months after closing. Cardinal Health (CAH - Free Report) has agreed to acquire AdaptHealth's (AHCO - Free Report) Diabetes Health business and Strive Medical for approximately $360 million in cash, subject to working capital adjustments. The tuck-in acquisitions strengthen Cardinal Health's at-Home Solutions segment by expanding its presence in diabetes management and urology while broadening its home-based care offerings.
The acquisitions are expected to enhance Cardinal Health's scale in the fast-growing home healthcare market and be accretive to non-GAAP earnings per share within the first year after closing. Backed by the successful integration of Advanced Diabetes Supply, the deals reinforce the company's strategy of driving long-term growth through targeted acquisitions and expanding its leadership in at-home medical supplies.
Likely Trend of CAH Stock Following the NewsShares of CAH have traded flat since the announcement on July 20. In the year-to-date period, shares of the company have gained 10.5% against the industry’s 0.8% decline. The S&P 500 increased 8.7% in the same time frame.
The acquisitions are expected to strengthen Cardinal Health's long-term growth by expanding its at-Home Solutions platform across high-demand therapeutic areas such as diabetes management and urology. The deals add more than 245,000 patients annually, broaden the company's direct-to-patient distribution network and create additional cross-selling opportunities.
Coupled with the successful integration of Advanced Diabetes Supply, these acquisitions should enhance operating scale, deepen customer relationships and support sustainable revenue growth and margin expansion, while reinforcing Cardinal Health's leadership in the rapidly growing home healthcare market.
CAH currently has a market capitalization of $52.87 billion.
Image Source: Zacks Investment Research
More on the NewsThe acquisitions further build on the foundation established by Cardinal Health's earlier purchase of Advanced Diabetes Supply ("ADS"), which has significantly strengthened its at-Home Solutions business. Management noted that the ADS integration has progressed ahead of schedule, with the company successfully migrating all ADS volume onto its technology-enabled distribution network. Since the transaction closed, Cardinal Health has onboarded nearly 500,000 new customers and introduced ContinuCare Pathway, a digital pharmacy-to-supplier referral program designed to simplify patient access to home-based care.
The acquisition of AdaptHealth's Diabetes Health business will meaningfully expand Cardinal Health's diabetes care franchise. The business serves more than 225,000 patients annually through a centralized, mail-order, direct-to-patient model, supplying products such as continuous glucose monitors for ongoing diabetes management. Meanwhile, Strive Medical adds a complementary portfolio focused on urology, wound care, ostomy and incontinence supplies, serving more than 20,000 patients annually. Together, these assets broaden Cardinal Health's capabilities across key therapeutic categories while increasing the scale of its home medical supplies platform.
Management believes that the transactions will further strengthen Cardinal Health's ability to deliver high-quality care at scale and support its long-term strategy of combining organic growth with targeted acquisitions. Subject to customary closing conditions and regulatory approvals, both deals are expected to be accretive to non-GAAP earnings per share within the first 12 months after closing. The company expects the expanded platform to enhance operational efficiencies, deepen customer relationships and reinforce its leadership position in the rapidly evolving home healthcare market.
Favorable Industry Prospect for CAHGoing by the data provided by Grand View Research, the global home healthcare market size is projected to grow from $504.8 billion in 2026 to $1015.8 billion by 2033, at a CAGR of 10.5% from 2026 to 2033.
The market is driven by rising demand for cost-effective alternatives to curb rising healthcare costs and the growing penetration of the virtual and remote care industry.
Recent Development by CAHIn April, CAH expanded its Actinium-225 (Ac-225) production capabilities at its Center for Theranostics Advancement in Indianapolis by adding a high-capacity production line to its Drug Master File. The move significantly boosts the supply of cGMP-compliant Ac-225 for investigational therapies and future commercial manufacturing.
Ac-225 is a key radionuclide used in targeted cancer treatments, including therapies for prostate, breast and neuroendocrine cancers. The expansion strengthens Cardinal Health's position in the fast-growing radiopharmaceutical market while helping address the industry's supply constraints.
CAH’s Zacks Rank & Other Key PicksCurrently, CAH carries a Zacks Rank #2 (Buy).
A couple of other top-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) and Intuitive Surgical (ISRG - Free Report) . WST sports a Zacks Rank #1 (Strong Buy), while ISRG carries a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
West Pharmaceutical reported first-quarter 2026 earnings per share (EPS) of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.
West Pharmaceutical has an estimated long-term earnings growth rate of 13.9%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.4%.
Intuitive Surgical reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.
Intuitive Surgical has an estimated long-term earnings growth rate of 14.3%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.
New York, New York--(Newsfile Corp. - July 22, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Lucid Group, Inc. (NASDAQ: LCID) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Lucid securities between February 25, 2026 and April 13, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/LCID.
Lucid Case Details
The Complaint allegs that throughout the Class Period, Defendants failed to disclose that:
a supplier quality issue had significantly disrupted deliveries of the Lucid Gravity; the foregoing was likely to, and did, have a material negative impact on the Company's business and financial results; accordingly, the defendants had overstated the purported enhancements to Lucid's manufacturing and delivery capabilities and overall operations; and as a result, defendants' public statements were materially false and misleading at all relevant times.What's Next for Lucid Investors?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/LCID, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Lucid you have until July 28, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
No Cost to Lucid Investors
We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman, LLC for Lucid Securities Class Action?
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com
"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.
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Source: Bronstein, Gewirtz & Grossman, LLC
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LOS ANGELES, July 22, 2026 (GLOBE NEWSWIRE) -- Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming August 24, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired ZoomInfo Technologies Inc. (“ZoomInfo” or the “Company”) (NASDAQ: GTM) securities between November 3, 2025 and May 11, 2026, inclusive (the “Class Period”).
IF YOU SUFFERED A LOSS ON YOUR ZOOMINFO INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On May 11, 2026, after market hours, ZoomInfo released its first quarter 2026 financial results, revealing that the Company was reducing its revenue guidance, realigning its downmarket business, laying off 20% of its workforce, and expecting to incur approximately $45-60 million in restructuring costs due, in part, to “a trend of AI and agentic confusion in [the Company’s] customer conversations.”
On this news, ZoomInfo’s stock price fell $1.98, or 32.8%, to close at $4.06 per share on May 12, 2026, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) ZoomInfo’s optimistic plan for continued growth was undermined by slowing seat-based demand, weakening upsells and customers revising decisions to purchase AI products and develop internal AI-driven go-to-market solutions, making ZoomInfo’s 2026 full year revenue guidance increasingly unlikely to be met; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired ZoomInfo securities during the Class Period, you may move the Court no later than August 24, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: [email protected]
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Visit our website at: www.glancylaw.com.
Key Takeaways Corning reports Q2 2026 earnings on July 28, with Optical Communications expected to lead growth.GLW's AI infrastructure, fiber broadband and solar businesses are expected to support results.GLW has topped earnings estimates in the past four quarters but lacks a favorable earnings beat signal. Corning Incorporated (GLW - Free Report) is scheduled to report second-quarter 2026 earnings on July 28, 2026. The Zacks Consensus Estimate for sales and earnings is pegged at $4.6 billion and 76 cents per share, respectively. Earnings estimates for GLW have decreased 0.31% to $3.18 for 2026 and increased 0.96% to $4.22 for 2027 over the past 60 days.
GLW Estimate Trend
Image Source: Zacks Investment Research
Earnings Surprise HistoryThe advanced glass substrates producer has a solid trailing four-quarter earnings surprise history, having exceeded expectations on each occasion. It delivered a four-quarter earnings surprise of 2.41%, on average.
Image Source: Zacks Investment Research
Earnings WhispersOur proven model does not conclusively predict an earnings beat for Corning for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. That is not the case here.
Corning currently has an ESP of -0.70% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factor Shaping Upcoming ResultsCorning's Optical Communications business is expected to remain the primary growth engine in the second quarter. Growing investment in AI infrastructure will likely propel growth in this segment. Rising deployment of AI data centers is increasing demand for the company's optical fiber, cable and connectivity products.
Ongoing expansion of fiber broadband networks is another growth factor. Telecom carriers continue investing in fiber-to-the-home infrastructure to meet rising bandwidth requirements, creating strong demand for Corning's optical solutions.
The Solar business is expected to remain a major contributor. Demand for domestically manufactured solar products, including polysilicon, wafers and modules, remains healthy. Customers increasingly prefer U.S. made products and suppliers to increase reliability in their supply chain amid growing geopolitical volatility and trade uncertainty. Growing investment in advanced chip production and AI-related semiconductor capacity is supporting demand for the company's high-performance materials and optical technologies.
Per the Zacks Consensus Estimate, net sales from the optical communications segment are pegged at $1.94 billion, up from $1.56 billion a year ago. Net sales from the automotive and Life Sciences vertical are pegged at $453.36 million and $315.35 million, respectively.
Price PerformanceOver the past year, Corning has surged 191% compared with the industry’s growth of 251.2%. It has outperformed peers like Amphenol Corporation (APH - Free Report) but lagged Ciena Corporation (CIEN - Free Report) over this period. While Amphenol has gained 56.7%, Ciena has jumped 371.1%.
Image Source: Zacks Investment Research
Key Valuation MetricFrom a valuation standpoint, Corning appears premium relative to the industry but is trading above its mean. Going by the price/earnings ratio, the company shares currently trade at 43.17 forward earnings, higher than 39.47 for the industry and higher than the stock’s mean of 31.88.
Image Source: Zacks Investment Research
Investment ConsiderationCorning is positioning itself as a critical supplier to the AI ecosystem. An AI data center requires massive GPU clusters, high-speed optical interconnects, robust fiber networking infrastructure and advanced photonic solutions. Hyperscalers are rapidly expanding AI data centers, and this is directly boosting demand for Corning’s leading-edge optical fiber and connectivity products.
The company's Solar business has also emerged as an important growth engine. Its vertically integrated U.S. manufacturing platform, spanning polysilicon, wafers and solar modules, positions Corning to capitalize on growing demand for domestically produced solar components. Growing demand for specialty optical materials used in semiconductor manufacturing further diversifies its revenue base. Despite some weakness, demand for premium Corning’s Gorilla Glass products remains resilient. A diverse portfolio and strong focus on innovation enable it to maintain its competitive edge amid growing competition from other players, such as Amphenol and Ciena.
Corning's ongoing productivity initiatives are expected to remain a positive driver. Improved manufacturing efficiency, disciplined cost management and a more favorable product mix are expected to drive strong margin expansion.
End NoteCorning continues to strengthen its competitive position through innovation across optical connectivity, advanced glass and semiconductor applications. Expansion into high-growth markets, such as AI data center, solar, automotive and semiconductor, is a positive factor. Upward estimate revisions underscore growing confidence among investors regarding the stock's growth potential. Owing to these factors, Corning seems to be a good investment option at present.
Distribution Solutions Group, Inc. (NASDAQ: DSGR) (âDSGâ or the âCompany"), a premier, multi-platform distribution company, today announced that it will
Key Takeaways Dell's AI server sales are growing 700% YoY.EPS is projected to double this quarter.Dell shares are forming a classic high-tight-flag pattern. Dell Technologies Company OverviewZacks Rank #1 (Strong Buy) stock Dell Technologies ((DELL - Free Report) ) is a leading provider of servers, storage, and PCs. The Round Rock, Texas-based company is a leader in the traditional PC space. However, over the past few years, Dell has transformed into a primary enterprise hardware vendor providing the “picks and shovels” needed for the massive global AI infrastructure buildout. Dell operates in more than 150 countries and reported over $100 billion in annual revenue last year.
Dell: An AI Infrastructure JuggernautDell’s fastest-growing business is its AI-optimized server segment, which is experiencing mind-boggling year-over-year growth of more than 700%! Dell’s AI servers are ultra-high-performance computers designed to process immense quantities of information at once. Unlike standard computers that can only handle one or two tasks simultaneously, these specialized servers can handle millions of complex math problems simultaneously. These AI servers perform the two most important AI tasks: training (feeding the AI massive quantities of data) and inference (hosting the AI so customers can use it).
Dell separates itself from competitors through its “plug-and-play” service. Instead of selling individual products to customers, Dell combines the chips, software, and power systems so clients receive a complete AI rack ready to use immediately. Dell’s expanding ecosystem supports a fuller stack for customers that want to run AI on infrastructure they control. Management recently highlighted partners including NVIDIA ((NVDA - Free Report) ), Google ((GOOGL - Free Report) ) Cloud, OpenAI, Palantir ((PLTR - Free Report) ), ServiceNow ((NOW - Free Report) ), and others.
The AI Buildout is Not Slowing Tuesday, Super Micro Computer ((SMCI - Free Report) ), a direct Dell competitor, trounced earnings and guided for gross margins to nearly double from ~8.8% to 15-17%. The news suggests that Dell, which has much higher margins than SMCI, will be able to increase those margins further in the coming quarters. Separately, Dell customer OpenAI raised its projected compute spending through 2030 to ~$750B from $600B earlier this year.
Dell’s Scorching-Hot GrowthDell is growing earnings at a rapid clip. Zacks Consensus Estimates suggest that the company’s EPS will more than double in the current quarter and will grow ~66% in 2026.
Image Source: Zacks Investment Research
Meanwhile, Dell has proven an ability to deliver positive EPS surprises in recent quarters. For instance, last quarter, Dell beat consensus estimates by a juicy 59.87%.
Image Source: Zacks Investment Research
Dell Sets Up High Tight FlagDELL shares are set up in a classic high tight flag pattern. An HTF occurs when a stock doubles in 8 weeks or less then corrects no more than 20%.
Image Source: TradingView
Bottom Line
Dell has successfully evolved from a traditional PC manufacturer to a hardware leader in the global AI buildout. With massive earnings growth, expanding partnerships, and a unique “plug-and-play” service, Dell’s bullish trajectory is likely to continue.
Key Takeaways The AI server market is growing rapidly.OpenAI boosted its 2030 compute projection to $750B.Anthropic & AMD announced a multi-billion-dollar chip partnership on Wednesday. Although many AI-related stocks have corrected from extended levels in recent weeks, the latest AI news suggests that the AI revolution is still well intact. Below are three of the most important AI-related headlines.
Super Micro Computer Margins Expected to ExplodeSuper Micro Computer ((SMCI - Free Report) ) builds and sells high-performance AI servers, storage systems, and advanced liquid-cooling technology for enterprise data centers. On Tuesday night, SMCI reported preliminary Q4 financial results that blew away Wall Street expectations. Q4 revenue is expected to be near the low end of its $11 billion to $12.5 billion guidance. However, the company expects gross margins to explode to ~15% to ~17% from ~8%. Additionally, SMCI recorded more than $60 billion in fresh orders during the quarter, pushing its backlog to a record high. SMCI shares, which have been weighed down by legal difficulties, bolted more than 20% in midday trading on Wednesday.
Image Source: Zacks Investment Research
SMCI industry peers and competitors Dell Technologies ((DELL - Free Report) ) and Hewlett Packard ((HPE - Free Report) ) jumped in unison after a Wolfe analyst said that SMCI’s margin surprise could be a positive read-through for the two companies. Read more about the bull case for Dell here.
AI Spending and Demand is Not SlowingA key argument of AI bears is that the massive spending on AI infrastructure will soon slow. Although it will have to slow eventually, the most recent headlines suggest that insatiable AI spending will continue into the foreseeable future. For example, on Wednesday, ChatGPT parent OpenAI raised its projected compute spending through 2030 to $750B from its previous forecast of $600B earlier this year. OpenAI is also investing $20B in a 3.2GW Georgia data center, which will be its first major site designed and developed in-house rather than leased from cloud providers. According to the latest projections, data center demand will nearly quadruple by 2035.
Image Source: Zacks Investment Research
Anthropic & AMD Announce PartnershipMeanwhile, OpenAI is not the only one looking to increase its AI infrastructure. Claude parent Anthropic, currently considered the AI leader, announced Wednesday that it will purchase up to 2 gigawatts of Advanced Micro Devices’ ((AMD - Free Report) ) next-generation MI450 chips starting in the first half of 2027. AMD will separately invest up to $5 billion into Anthropic (which will trigger when certain deployment milestones are met).
Bottom Line
While recent stock pullbacks in AI stocks have concerned investors, the underlying fundamentals of the AI revolution tell a vastly different narrative. Soaring margins, long-term compute commitments, and burgeoning partnerships all suggest that the AI buildout is far from over.
Dell Technologies Inc. DELL shares moved 9% higher on Wednesday after Super Micro Computer released a stronger-than-expected preliminary update that reinforced expectations for continued spending on artificial intelligence infrastructure.
The rally followed Super Micro's announcement that it received more than $60 billion in new orders during its fiscal fourth quarter, driving its order backlog to a record high.
The update lifted sentiment across AI hardware stocks as investors viewed the results as evidence of sustained demand from enterprise customers and hyperscale cloud providers.
Dell and Super Micro both assemble Nvidia graphics processing units into AI server racks, making Dell one of the companies expected to benefit from continued investment in AI infrastructure.
Investor optimism spread across the server hardware sector after Super Micro reported record order activity despite guiding revenue toward the lower end of its previously announced fourth-quarter range of $11 billion to $12.5 billion.
The company's outlook for gross margins, however, exceeded expectations, with projected margins of between 15% and 17%, well above previous guidance.
The strong order intake overshadowed the softer revenue outlook and suggested that demand for AI servers remains robust.
The update provided a positive read-through for companies supplying AI infrastructure, including Dell, which has positioned itself as a major provider of enterprise AI servers powered by Nvidia chips.
Dell has already reported an AI backlog of $51.3 billion, representing 85.5% of its annual sales target.
The company also said first-quarter fiscal 2027 AI-optimized server revenue reached $16.1 billion, a 757% increase from a year earlier, contributing to total quarterly revenue of $43.8 billion.
The company serves more than 5,000 active AI customers.
Analysts remain optimistic ahead of earningsWall Street analysts continue to maintain positive expectations for Dell as demand for AI computing infrastructure expands.
Evercore ISI recently raised its price target on Dell to $500 while maintaining an Outperform rating, citing confidence in the company's position within the AI infrastructure market.
JPMorgan also increased its target price to $550 and reiterated its Overweight rating.
Morgan Stanley lifted its target to $477, pointing to continued enterprise server demand driven by AI infrastructure spending, compute shortages and hardware refresh cycles.
The broader analyst consensus price target stands near $503, above Dell's recent share price.
According to Fiscal.ai estimates, analysts expect Dell to report revenue of $44.39 billion for the quarter ending July 2026, representing nearly 50% year-over-year growth.
Earnings per share are projected to reach $4.90, compared with $2.32 during the same period a year earlier.
Technical picture remains constructiveDell shares continue to trade above their major moving averages, reflecting a strong longer-term trend.
The stock remains approximately 5.2% above its 20-day simple moving average and nearly 17% above its 50-day moving average. It also trades well above its 200-day moving average, with the bullish golden cross formed earlier this year remaining intact.
Momentum indicators suggest that upside momentum has moderated.
The moving average convergence divergence indicator remains below its signal line, indicating that while the broader trend remains positive, the pace of gains has slowed.
Key technical levels include resistance around $463.50 and support near $378.50, an area that aligns closely with the 50-day moving average and may serve as an important level for investors monitoring the stock's trend.
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming July 27, 2026 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Zoetis Inc. (“Zoetis” or the “Company”) (NYSE: ZTS) securities between January 14, 2025 and May 6, 2026, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON ZOETIS INC. (ZTS), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On August 5, 2025, Zoetis released its second quarter 2025 financial results, reporting weakened demand trends within its Companion Animal portfolio.
On this news, Zoetis’ stock price fell $5.69, or 3.8%, to close at $146.12 per share on August 5, 2025, thereby injuring investors.
Then, on November 4, 2025, Zoetis released its third quarter 2025 financial results, revealing slowed growth across its key Companion Animal franchises and disclosing continued weakness in sales of its canine pain treatment, Librela, and increased competitive pressure in dermatology and parasiticides. The Company also lowered its full year sales outlook.
On this news, Zoetis’ stock price fell $19.89, or 13.8%, to close at $124.46 per share on November 4, 2025.
Then, on May 7, 2026, Zoetis released its first quarter 2026 financial results, reporting slowing overall revenue growth, declining Companion Animal sales performance, and worsening results across its key dermatology and parasiticides franchises, stating that “competition intensified across key pet care categories, including dermatology and parasiticides,” that “pet owners demonstrated increased price sensitivity,” and that “these new entrants have not yet translated into overall market expansion.”
The Company also explained that “price has played a larger role in the decision process,” that “[s]hare loss is being amplified by a derm market with declining patient volume in the clinic,” and that contraction in the parasiticides market was negatively impacting prescription volumes and compliance. In addition, the Company admitted that it was operating in “a more price sensitive and competitive environment” and further reduced its 2026 growth outlook based on continuing competitive and operating pressures.
On this news, Zoetis’ stock price fell $23.91, or 21.5%, to close at $87.31 per share on May 7, 2026, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) veterinarian prescription growth and adoption of Zoetis’ Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; (2) Zoetis’ Simparica Trio was losing significant market share to a lower priced competing canine parasiticide with broader indicated use in a slowing overall market; and (3) Zoetis’ dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Zoetis securities between January 14, 2025 and May 6, 2026, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is July 27, 2026.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
[url="]The Law Offices of Frank R. Cruz[/url] reminds investors of the upcoming July 27, 2026 deadline to participate as a lead plaintiff in the securities fra
Key Takeaways Mondelez to report second-quarter 2026 earnings on July 28, with revenue estimates of $9.22 billion.MDLZ EPS consensus stands at 67 cents, indicating an 8.2% decline year over year.MDLZ earnings may face pressure from elevated cocoa costs, inflation and higher brand spending. Mondelez International, Inc. (MDLZ - Free Report) is likely to witness top-line growth when it reports second-quarter 2026 earnings on July 28. The Zacks Consensus Estimate for revenues is pegged at $9.22 billion, indicating growth of 2.6% from the prior-year quarter’s reported figure.
The consensus mark for earnings has remained unchanged over the past 30 days at 67 cents per share, which, however, implies an 8.2% decline from the figure reported in the year-ago quarter. MDLZ has a trailing four-quarter earnings surprise of 5.4%, on average.
Factors Likely to Influence MDLZ’s Upcoming ResultsMondelez’s second-quarter performance is likely to have been supported by resilient demand across its global snacking portfolio, particularly in emerging markets, where consumer demand has remained relatively healthy. Pricing actions across several categories, coupled with continued strength in chocolate, biscuits and gum, are likely to have aided revenue growth despite mixed volume trends in certain developed markets. These factors are likely to have helped the company deliver year-over-year top-line improvement during the to-be-reported quarter.
The company’s broad geographic footprint is also likely to have remained a key strength. Emerging markets are likely to have continued driving business momentum, backed by wider distribution, strong brand execution and healthy performances across key regions. At the same time, developed markets are likely to have shown gradual stabilization, with improving retail dynamics in Europe and sequential recovery in the U.S. biscuit business strengthening the overall operating backdrop.
Mondelez’s continued focus on innovation, brand investments and channel expansion is also likely to have reinforced its competitive positioning. The company has been witnessing steady consumer demand for its well-established brands despite a challenging macro backdrop, supported by premium offerings, product innovation and a broader channel presence. Growing traction across convenience, club and e-commerce channels is also likely to have strengthened customer demand and supported market share trends.
However, profitability is likely to have remained under pressure in the upcoming quarter, as elevated cocoa costs and persistent commodity inflation continued to weigh on gross margins despite pricing actions. Higher brand-building investments and promotional spending might have further pressured operating margins, while pricing-related elasticity and package resizing initiatives are also likely to have weighed on earnings performance.
Earnings Whispers for MDLZOur proven model predicts an earnings beat for Mondelez this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
Mondelez carries a Zacks Rank #3 and has an Earnings ESP of +0.38%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With the Favorable CombinationHere are some other companies worth considering, as our model shows that these also have the right combination of elements to beat on earnings this reporting cycle.
Archer-Daniels-Midland Company (ADM - Free Report) currently has an Earnings ESP of +12.50% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Archer-Daniels’ upcoming quarter’s EPS is pegged at $1.28, which implies a 37.6% rise year over year. The consensus estimate for ADM’s quarterly revenues is pinned at $22.4 billion, which calls for 5.7% growth from the figure reported in the prior-year quarter. ADM delivered a trailing four-quarter earnings surprise of 5.4%, on average.
Kimberly-Clark Corporation (KMB - Free Report) currently has an Earnings ESP of +2.70% and a Zacks Rank of 3. The Zacks Consensus Estimate for Kimberly-Clark’s upcoming quarterly revenues is pegged at $4.2 billion. The figure implies a 1.7% increase from the prior-year quarter.
The Zacks Consensus Estimate for Kimberly-Clark’s quarterly earnings per share is pegged at $2.00, indicating a 4.2% gain from the year-ago period figure. KMB delivered a trailing four-quarter earnings surprise of 19.1%, on average.
Monster Beverage Corporation (MNST - Free Report) currently has an Earnings ESP of +0.45% and a Zacks Rank of 3. The consensus estimate for Monster Beverage’s quarterly revenues is pinned at $2.4 billion, which implies 14.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for the upcoming quarter’s EPS is pegged at 59 cents, which indicates a 13.5% jump year over year. MNST delivered a trailing four-quarter earnings surprise of 9.6%, on average.
Earnings came in at $3.20 per share, beating the analyst consensus estimate of $3.06. Revenue increased to $9.23 billion from a year earlier, exceeding analysts’ expectations of $9.18 billion.
D.R. Horton lowered its fiscal 2026 revenue outlook to $32.5 billion to $33.0 billion from its prior forecast of $33.5 billion to $34.5 billion. The new range is below the analyst consensus estimate of $33.66 billion.
The company also reduced its homebuilding closing forecast to 83,800 to 84,300 homes from its previous guidance of 86,000 to 87,500 homes.
D.R. Horton shares fell 0.7% to trade at $142.50 on Wednesday.
These analysts made changes to their price targets on D.R. Horton following earnings announcement.
RBC Capital analyst Mike Dahl maintained the stock with an Underperform rating and raised the price target from $123 to $125. Evercore ISI Group analyst Stephen Kim maintained the stock with an In-Line rating and raised the price target from $171 to $177. Considering buying DHI stock? Here’s what analysts think:
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Key Takeaways D.R. Horton trades at 12.3X forward earnings, with valuation supportive but not a deep homebuilding bargain.DHI returned capital through buybacks and dividends while maintaining $6.1 billion in liquidity.D.R. Horton cut fiscal 2026 revenue and homebuilding closings guidance amid affordability pressures. D.R. Horton, Inc. (DHI - Free Report) presents a restrained investment case rather than a clean buy signal. The homebuilder is still producing cash, supporting shareholders and managing inventory carefully.
The question is whether those strengths are enough while earnings growth softens. Valuation helps, but lower margins, higher cancellations and reduced fiscal 2026 guidance keep the setup mixed.
DHI Valuation Looks MeasuredDHI trades at 12.3X forward 12-month earnings. That is above the Zacks sub-industry multiple of 10.9X, but below the Zacks sector at 20.2X and the S&P 500 at 20.7X.
The valuation does not screen as stretched against the broader market. It also does not show a deep bargain within homebuilding, where investors remain focused on affordability, incentives and sales pace.
The $151 price target implies limited upside from the recent stock price of $143.92. That makes valuation a supportive part of the DHI case, not a stand-alone reason to buy aggressively.
D.R. Horton Still Returns Big CashD.R. Horton ended June 30, 2026, with consolidated liquidity of $6.1 billion, including $2.13 billion of cash, cash equivalents and restricted cash and $4 billion of available credit facility capacity. Debt to total capital was 23.0%, which supports flexibility through a cyclical housing slowdown.
The company also continues to return capital. In the third quarter of fiscal 2026, it repurchased 4.2 million shares for $615.7 million and paid $127.1 million in dividends.
For the first nine months of fiscal 2026, D.R. Horton repurchased 14.6 million shares for $2.2 billion and paid $388.3 million in dividends. Management still expects at least $3 billion in operating cash flow, about $2.5 billion of repurchases and roughly $500 million in dividends for fiscal 2026.
Lennar Corporation (LEN - Free Report) and PulteGroup, Inc. (PHM - Free Report) provide useful peer context because both compete in the same public homebuilder universe. For investors comparing builders, D.R. Horton’s liquidity and capital returns remain key parts of its relative appeal.
DHI Earnings Quality Needs ScrutinyD.R. Horton beat third-quarter fiscal 2026 expectations, with earnings of $3.20 per share and revenues of $9.23 billion. Homebuilding revenues rose 1.2% year over year, and homes closed increased 4% to 23,983.
The headline beat does not remove the pressure points. Earnings declined 4.8% year over year, net income fell 11.7% and income before taxes declined 9.7%.
Home sales gross margin slipped to 20.7% from 21.8% a year earlier. The cancellation rate also rose to 20% from 17%, showing that affordability constraints and cautious buyer sentiment are still weighing on demand quality.
D.R. Horton Cut Its 2026 OutlookD.R. Horton lowered its fiscal 2026 consolidated revenue guidance to $32.5-$33 billion from its prior view of $33.5-$34.5 billion. That compares with $34.25 billion in fiscal 2025.
The company also reduced its homebuilding closings outlook to 83,800-84,300 homes from the prior projection of 86,000-87,500 homes. This revised view points to a more measured sales pace rather than a rapid demand recovery.
The lower outlook matters for investors because it reflects the same affordability and mortgage-rate uncertainty affecting the broader housing market. Management is still prioritizing cash generation and disciplined sales activity, but the earnings backdrop is not accelerating.
DHI Ratings Point to Selective AppealThe bottom line is that DHI offers a reasonable but selective investment setup. Liquidity, cash returns and a measured valuation support the stock, while weaker margins, lower earnings and trimmed guidance argue against a broadly bullish stance.
DHI currently carries a Zacks Rank #3 (Hold). That rank fits a stock where estimate trends do not yet point to a stronger near-term earnings catalyst. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The stock has a VGM Score of A, Value Score of B, Growth Score of C and Momentum Score of A. These scores suggest attractive characteristics in value and momentum, while growth remains less convincing.
For investors who prioritize balance-sheet strength, shareholder returns and valuation discipline, DHI has appeal. For those seeking cleaner near-term growth, the stock still requires patience.
Key Takeaways D.R. Horton lowered average closing prices 2% to $362,000 to support affordability and demand.DHI improved construction cycle times and kept aged completed inventory limited with faster turns.DHI's gross margin fell to 20.7% as incentives stayed high despite lower stick-and-brick costs. D.R. Horton, Inc. (DHI - Free Report) is working through a housing market where affordability, mortgage-rate volatility and cautious buyers still shape demand.
The company’s current setup rests on a practical trade-off. It is using incentives, lower prices, product mix and its mortgage platform to keep homes moving while trying to protect returns.
DHI Leans on Affordable DemandD.R. Horton’s demand defense starts with affordability. In the third quarter of fiscal 2026, its average closing price declined 2% year over year to $362,000, reflecting a continued push toward more affordable offerings.
First-time buyers remain central to that strategy. They represented 65% of mortgage closings in the quarter, while net sales orders totaled 23,084 homes with an order value of $8.4 billion despite a difficult housing backdrop.
D.R. Horton Gains From Faster TurnsOperational speed is another part of the thesis. Median construction cycle times improved roughly three weeks year over year in the quarter, helping homes move through inventory more quickly.
D.R. Horton ended the quarter with 38,000 homes in inventory, including 23,300 unsold homes. Completed unsold homes were 7,600, with only 600 completed for more than six months, limiting the drag from aged supply.
DHI Uses Its Lot Strategy for FlexibilityThe company’s lot position supports future volume without forcing too much owned land onto the balance sheet. At June 30, 2026, D.R. Horton controlled 568,500 homebuilding lots, including 126,600 owned lots and 441,900 lots under purchase contracts.
That structure gives DHI room to adjust if demand changes. During the first nine months of fiscal 2026, 67% of homes closed were built on lots developed by Forestar or third parties, reinforcing its flexible land model.
PulteGroup (PHM - Free Report) is another large homebuilder competing for buyers across major housing markets, so its trends remain relevant to the same demand cycle. Toll Brothers (TOL - Free Report) , with a more luxury-oriented position, offers a useful contrast to DHI’s affordability-led approach.
D.R. Horton Still Faces Margin PressureThe offset is profitability. Home sales gross margin fell to 20.7% in the third quarter of fiscal 2026 from 21.8% a year earlier, even as closings increased 4% year over year.
Cost relief has not fully solved the issue. Stick-and-brick costs declined 5% year over year, but lot costs rose 5%, while incentives are expected to remain elevated through the fourth quarter as affordability remains the primary demand constraint.
DHI Signals a Balanced Stock SetupDHI’s setup remains balanced rather than one-sided. The company is using scale, inventory control and land flexibility to defend demand, but margin pressure and rate-sensitive buyers keep the near-term earnings picture measured.
The stock currently carries a Zacks Rank #3 (Hold), which fits a neutral short-term earnings-revision backdrop. DHI also has a VGM Score of A, Value Score of B, Growth Score of C and Momentum Score of A. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Style Scores point to favorable value and momentum characteristics, while the Growth Score is more middle-of-the-road. For investors, the combination suggests that DHI has useful support factors, but the Rank keeps the stock in hold territory until earnings visibility improves.
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Corteva, Inc. (CTVA - Free Report) . This company, which is in the Zacks Agriculture - Operations industry, shows potential for another earnings beat.
This agriculture has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 15.94%.
For the most recent quarter, Corteva, Inc. was expected to post earnings of $1.18 per share, but it reported $1.5 per share instead, representing a surprise of 27.12%. For the previous quarter, the consensus estimate was $0.21 per share, while it actually produced $0.22 per share, a surprise of 4.76%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Corteva, Inc.. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Corteva, Inc. currently has an Earnings ESP of +4.81%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on July 30, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
The Warner Bros. Water Tower is pictured at Warner Bros. Studios in Burbank on the day it was announced that California and 11 states are suing to block Paramount's $110 billion acquisition of... Purchase Licensing Rights, opens new tab Read more
CompaniesBRUSSELS, July 22 (Reuters) - Paramount Skydance Corp (PSKY.O), opens new tab on Wednesday gained European Union antitrust approval for its $110 billion acquisition of Warner Bros Discovery (WBD.O), opens new tab after agreeing to ditch a film distribution joint venture with Universal Pictures.
The European Commission, which acts as EU competition enforcer, said Paramount Skydance's offer to end the United International Pictures JV in Europe within 13 months of closing the deal addressed its concerns, confirming a Reuters story.
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The company will not do any film distribution deal with Universal in Europe for 10 years and will not transfer the distribution of Warner's films in theatres to its own distributor, the Commission said.
"These commitments fully address the competition concerns identified by the Commission by ensuring that the films of the merged entity will not be distributed jointly with those of Universal or Disney," it added.
The transaction faces tougher U.S. challenges.
Last week Paramount Skydance was ordered by a U.S. court to pause the deal, which has been cleared by the U.S. Department of Justice, after a California-led coalition of states argued the merger would irreparably harm competition.
A prolonged interruption will cost Paramount Skydance financially as Paramount CEO David Ellison would be on the hook to pay Warner Bros. shareholders a 25-cent-per-share “ticking fee,” or about $7 million a day for each calendar day the merger is delayed past September 30.
The deal is also the target of a lawsuit by the Writers Guild of America which said it would jeopardize writers' livelihoods and threaten the health of U.S. entertainment.
Another hurdle is Britain, which last month said it may intervene because of the potential impact on news, children's television and streaming services.
Reporting by Foo Yun Chee, editing by Inti Landauro and Alexander Smith
Our Standards: The Thomson Reuters Trust Principles., opens new tab
An agenda-setting and market-moving journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their next move. Her knowledge and experience of European antitrust laws and developments helped her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
European Union antitrust regulators said on Wednesday they had signed off on Paramount Skydance's proposed acquisition of Warner Bros. Discovery.
The approval, which included concessions made by Paramount, comes as the deal has been delayed in the U.S. due to concerns raised by state attorneys general.
A Paramount spokesperson didn't immediately respond to comment.
In order to garner the approval, the European Commission said Paramount agreed to divest its stake in a film distribution joint venture with United International Pictures in Europe, and said it would not enter into any film distribution deal with Universal for the next 10 years in Europe.
"These commitments fully address the competition concerns identified by the Commission by ensuring that the films of the merged entity will not be distributed jointly with those Universal or Disney," according to the EU's release.
Paramount's stock rose 3% in midday trading.
The EU's approval marks a major regulatory milestone for the $110 billion proposed merger.
The deal earlier won approval from the antitrust division of the U.S. Department of Justice. Various other global jurisdictions have also signed off on the deal.
However, in the U.S., a lawsuit brought forward by a group of state attorneys general last week has become a potential holdup in this deal moving forward.
The coalition led by California's Rob Bonta filed a lawsuit seeking to block the merger due to antitrust concerns. The tie-up is set to combine two major film studios, Paramount and Warner Bros., a massive portfolio of pay TV networks and streaming services HBO Max and Paramount+.
Earlier this week a California district judge granted a temporary restraining order that puts a 14-day pause on anything moving forward with the merger.
Paramount previously said it is on track to close the merger by the end of September.
EU Approves Paramount’s $110 Billion Warner Bros. Takeover—Despite Pushback In The U.S. Ty Roush is a breaking news reporter based in New York City.
Jul 22, 2026, 02:12pm EDT
ToplineThe European Union on Wednesday approved Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery, even as the deal faces pushback in the U.S. over concerns the agreement violates antitrust law.
A federal judge paused the merger, ruling states had raised “serious questions” about antitrust law.
NurPhoto via Getty Images
Key FactsThe European Commission said in a statement Paramount’s deal for Warner Bros. was approved after Paramount agreed to end a distribution agreement with Universal Pictures in Europe, which regulators said “fully [addresses]” competition concerns.
Carvana (CVNA -2.76%) turned many investors' heads when it began scooping up brick-and-mortar dealerships recently. The strategic move seemed to go against the entire company's vision of online used-car sales (we'll get into that in a second). A smaller detail many overlooked was that Carvana opted to buy Stellantis (STLA +0.26%) dealerships primarily, a strange decision given the automaker's long list of recent struggles and receding market share. That said, this strange pairing might just be a match made in heaven for Carvana, and here's why.
What's going on? At first glance, Carvana scooping up physical dealerships goes against its historic strategy, but in reality, it's attempting to disrupt the age-old dealership model as we know it. As it attempts this strategic pivot, there's also reason to believe the synergy created could reward investors.
Jeep will play a big role in reversing market share losses. Image source: Stellantis.
Carvana's physical dealerships still won't sell you a vehicle in person; instead, they're for test drives, showing car capabilities, and helping consumers buy from a larger selection online. What this strategy also does is give Carvana control of the entire trade-in lifecycle. One of the more challenging aspects for Carvana was bringing in valuable used-vehicle inventory. Controlling dealerships that allow consumers to bring trade-in vehicles when purchasing new ones gives Carvana a bloodline of used-vehicle inventory to boost its historical business.
Another aspect of this strategy is that Carvana's acquired dealerships still plan to use the service bay as usual, potentially unlocking additional service revenue from its consumer base that may want to continue doing business with Carvana. What some investors aren't aware of is that while new and used vehicles drive dealerships' top-line revenue, the most profitable aspects, by a large margin, are service and parts, and finance and insurance. Carvana is unlocking the bread-and-butter of dealerships that its traditional online-only business lacked: high-margin maintenance and repair.
The initial results are incredibly intriguing, with its Arizona store booming in sales and becoming a top-selling dealership. More specifically, according to reports from The Wall Street Journal, Carvana's recently purchased Arizona dealership went from averaging 30 to 50 monthly sales to selling more than 700 new vehicles in May, according to Stellantis figures given to CNBC.
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Here's why it's a great match While Stellantis would surely benefit from increased sales across many dealerships, the match is primarily important to Carvana. That's because, at least initially, Carvana has chosen to make Stellantis dealerships its primary purchase. The question is why. The old saying "Buy low, sell high" is a fitting one for this scenario. Stellantis has experienced executive turnover, including the appointment of a new CEO, and it recently unveiled a massive $70 billion global turnaround plan with a strong focus on North America.
Stellantis has faced seemingly endless questions over the past few years about its product decisions, shrinking product lineups, receding market share, delayed launches, and uncertainty about the future of some of its many brands. That story is likely to change over the next five years as 11 new vehicles are headed to the U.S. market as Stellantis is committing 70% of its future investment into four primary brands. Two of them -- Ram and Jeep -- are focused on turning around Stellantis' North America market.
Furthermore, a growing concern has been rising new-car prices. Some analysts have called this an affordability crisis. This gives Stellantis, and by extension Carvana, the opportunity to quickly boost sales from the growing consumer demand for more affordable vehicles. In fact, at least nine upcoming models are targeting launch prices starting under $40,000, and two are targeting under $30,000. Stellantis' reduced focus on less-profitable, typically pricier electric vehicles (EVs) could also help Carvana's early efforts in the new-car business.
What it all means for Stellantis and Carvana At the same time, Stellantis' struggles have given Carvana an opportunity to purchase dealerships at lower prices than in the past. It also strategically pivots to a company putting up tens of billions to revive market share, product lineups, and brand identity. You could argue that Stellantis, because of its massive investment and potential turnaround, could be the best dealership partner over the next five years as Carvana fine-tunes its new strategy to disrupt the industry.
It's certainly a strange pairing, considering Carvana's history of used-car and online-only sales, but it might just be a match made in heaven over the next five years, especially if early results continue. As far as these two companies go, this is a much bigger deal for Carvana. Not only is it perhaps timing the brands of physical dealerships perfectly, considering Stellantis' upcoming massive investment in product and branding, Carvana opening the doors to new-car sales will give it entirely new revenue and profit streams, including servicing that is higher margin, that its historical business has lacked. If Carvana executes its strategy and disrupts the new-car dealership model, its earnings and stock price could soar over the next five years.
[url="]WHOOP[/url], the human performance company, today announced a new partnership with [url="]Robinhood[/url] that gives Robinhood Platinum Card cardholders
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Monday.com cited its "AI-driven growth strategy" in its layoff plans. Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Big cuts are coming for Monday.com.
The enterprise software company plans to cut 20% of its workforce, according to a Form 6-K it filed. The layoffs are meant to align the company with its "strategic focus on the AI Work Platform," the disclosure said.
Monday.com joins the growing group of companies citing AI while announcing layoffs, like Snap and Block. Monday.com said that it was pursuing an "AI-driven growth strategy."
"We entered a new era where AI is transforming the role of software, creating the greatest opportunity our industry has ever seen," Monday.com cofounder and co-CEO Eran Zinman said in a note published to LinkedIn. "We have a new market to capture. Without a fundamental change in how we operate, we will not be able to compete and win that market."
The changes mean Monday.com is becoming flatter with more autonomous teams, Zinman wrote.
As to whether the layoffs were driven by AI improvements, the co-CEO wrote that the decision "was not made to reduce costs or replace people with AI."
While Monday.com plans to cut 20% of its workforce, it also said it plans to continue hiring in areas of focus.
It's not immediately clear exactly how many workers will be affected. In its 2025 annual report, Monday.com said that it had 3,155 employees. Monday.com did not immediately respond to a request for comment from Business Insider.
The company's stock rose throughout the morning, though it has since ticked back down. The stock has slumped roughly 75% in the last year.
Monday.com provides project management software to enterprises. This category is the target of growing "SaaSpocalypse" worries. Investors and analysts fret that AI and vibe coding could weaken companies' reliance on these tools.
Read the Monday.com co-CEO's full note:Hi everyone,Over the past nine months, we have shifted our core vision moving from managing work to doing the work for our customers, with people and AI agents working together in one workspace.This has required us to change our product, our strategy, and how we serve our customers.But it became clear that changing our strategy and product is not enough. The organization we built for our previous chapter is not the organization that fits the new AI era.Today, we are announcing the very difficult decision to reduce our global workforce by ~20%, affecting around 620 people.This is the most painful decision we have made since founding monday.com - yet we are certain it is the right one. We made it. We own it. And we take full responsibility for it.The people leaving are talented colleagues and friends. They helped build this company, support our customers, and create a culture we are deeply proud of. We are incredibly grateful to them, and we know that nothing we say can lessen the impact this will have on them and their families.We are not making this change to protect what we have. We are making it to go all in on what monday.com can become.Why are we making this change?We entered a new era where AI is transforming the role of software, creating the greatest opportunity our industry has ever seen.We have a new market to capture. Without a fundamental change in how we operate, we will not be able to compete and win that market.To fully realize this opportunity, and ensure monday.com is positioned to lead in this landscape, we need to move faster, execute more decisively, take on new challenges, respond quickly to market changes, and empower people in the company to create greater impact. Some of the things we are changing in monday:A flatter organization - We are reducing management layers, creating more empowered teams, and enabling faster decision-making.More autonomous teams - We are moving from teams with many dependencies to smaller groups with broader ownership and greater authority to execute.A new go-to-market model - Our new offering is opening a new market, and that market requires us to work differently. New and existing customers increasingly expect deeper implementation support as they adopt AI. We will work more closely with customers, increase our on-site presence, create new roles, and adapt many existing ones.Improving margins was not the purpose of this decision. We intend to reinvest the vast majority of the savings in our people, our products, AI, and future growth.For the people leaving monday.comThank you. Thank you for all your hard work, for the significant impact you have made, for caring so deeply about monday.com, and for always being willing to help and lend a hand. We know this is part of our culture, and it is something we consistently hear from everyone who interacts with people at monday.com.We want to be very clear: this decision is not a reflection of your performance, your contribution, or your value. It is the result of a management decision about how to structure the company for its next chapter.We are committed to supporting you through this transition with care, respect, and meaningful assistance. We will do everything we reasonably can to help you find your next opportunity, and we will provide you with a generous support package.To companies that are hiring: we recommend these people wholeheartedly. They are exceptional professionals and teammates, and we will help connect them with organizations looking for outstanding talent.For the people stayingIt is not easy to be part of such a significant change or to see colleagues and friends leave so quickly. We understand how difficult this will be. We also owe you clarity about what this change means.The change is not about asking fewer people to do the same amount of work. We are making real choices about what we will stop doing. We will simplify how we work, remove unnecessary friction, and give teams more authority to make decisions.The company that comes out of this change will have clearer priorities, fewer layers, faster decisions, and greater ownership.We are deeply confident about our futureOur path is very clear to us. This is a change we have chosen to make, and we are taking full responsibility for it. We have never seen such a significant opportunity in software, driven by such exciting technology.Nothing gives us more confidence than seeing how new and existing customers are responding to our new offering, and seeing adoption of our AI products accelerate.Every week, we see more evidence that our strategy is the right one. Customers are embracing our new vision, adoption of our AI capabilities continues to accelerate, and our confidence continues to grow.Our momentum is strong, and we believe we are on the right path to success on a massive market opportunity.To ease the uncertainty around this we will send all employees an email message within the next hour, followed by a personal call from one of your managers.For all managers - we know how difficult it is to process this personally, even as you continue to lead your teams. We have every confidence in your leadership and know you'll approach these conversations with the care, clarity, and respect that define our culture. Thank you for being there for your people during this transition.Thank you,Roy & EranDuring the change process, we received a few questions we'd like to clarify:Is the reason we are doing this reduction is to improve margins? No. Improving margins was not the purpose of this decision. We intend to reinvest the vast majority of the savings in our talent, our products, AI, and future growth.Do we plan more reductions in the future? We designed this change to create the organization we believe we need for our next chapter. We are not planning any further workforce reductions.Is this reduction driven by AI improvements? No. While we are seeing significant value from AI internally, this decision was not made to reduce costs or replace people with AI. We see internal AI adoption as an accelerator of our growth. This change was made to adapt the company to our new vision.Are people expected to work harder now that we have less people? Not harder - better. To give one example, we had many situations where work that could have been done in a few days took many months with multiple meetings and endless friction. This wasn't people's fault and everyone was frustrated by this. Our new org changes ownership to allow people to make decisions and move fast.You're talking about the new AI products, what about our existing market and customers? We are lucky to have amazing customers that love our product and actually use these words to describe it. We need to be there for them with our new vision of doing the work with AI and not just managing it. They are also undergoing change and we will invest heavily to help them - they are our biggest asset.
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Image Credits:Cheng Xin / Contributor / Getty Images Israeli workplace software maker Monday.com is laying off hundreds of employees as part of a restructuring plan to refocus its investments around AI projects.
The company said it is reducing its headcount by 20%, or about 630 staff, to “support a leaner, more focused operating model” as it concentrates on its AI Work Platform.
Monday.com earlier this year pivoted hard toward making its AI platform a core offering, redesigning its entire product around the belief that its enterprise customers increasingly want AI agents to work together with their employees. The AI Work Platform currently comprises a no-code app builder, a customizable AI agent, a workflow automation tool, and a chatbot that can do tasks like generating reports and updating dashboards.
The company joins a host of large tech firms that have laid off hundreds of thousands of people as they seek to invest more in AI. Tech layoffs in May hit a monthly high unseen in years, and a record 78% of companies have blamed a need to refocus their efforts around AI as a reason for letting people go this year, according to Layoffs.fyi.
More than 122,000 tech roles have been cut so far in 2026, Layoffs.fyi data shows.
Monday.com expects to incur $45 million to $55 million in charges due to the restructuring.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Nasdaq (NDAQ - Free Report) , which belongs to the Zacks Securities and Exchanges industry, could be a great candidate to consider.
When looking at the last two reports, this exchange operator has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 4.36%, on average, in the last two quarters.
For the most recent quarter, Nasdaq was expected to post earnings of $0.93 per share, but it reported $0.96 per share instead, representing a surprise of 3.23%. For the previous quarter, the consensus estimate was $0.91 per share, while it actually produced $0.96 per share, a surprise of 5.49%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Nasdaq. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Nasdaq has an Earnings ESP of +0.14% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on July 23, 2026.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Shares of Genpact fell as investors questioned the pace at which the company can translate its investments in AI into meaningful revenue acceleration. Permian Resources detracted from performance as energy stocks weakened following a decline in crude oil prices. Ralliant rallied following a strong earnings report in which organic revenue grew nearly 9%, well above expectations, driven by strength across both the Sensors & Safety Systems and Test & Measurement segments.
Key Takeaways CME Group topped Q2 earnings and revenue estimates on record market data revenues and solid trading activity. CME posted its third-highest quarterly ADV, with solid equity index and agricultural products. CME returned capital through dividends and buybacks while expanding products with new futures offerings. CME Group's (CME - Free Report) second-quarter 2026 adjusted earnings of $2.99 per share beat the Zacks Consensus Estimate of $2.91 by 2.7%. The bottom line increased 1% from the year-ago quarter. Revenues of $1.70 billion surpassed the consensus estimate of $1.68 billion by 1.2% and rose 1% year over year.
The quarter benefited from record market data revenues and resilient trading activity, with average daily volume reaching 29.8 million contracts, the third-highest quarterly level in the company's history.
CME’s Revenue Growth Supported by Market DataRevenue growth was driven by record market data and information services revenues, which rose 20% year over year to $238.1 million. Clearing and transaction fee revenues totaled $1.35 billion, while total revenues increased to $1.71 billion from $1.69 billion in the prior-year quarter.
The company also generated $115.6 million in other revenues, which grew 9.2% year over year. Total average rate per contract improved to 67.8 cents from 65.2 cents in the first quarter of 2026, reflecting lower volume tiering and a lower member mix.
CME Group Trading Activity Remains RobustTrading activity remained strong despite lapping a record second quarter of 2025. Average daily volume totaled 29.8 million contracts, representing the company's third-highest quarterly ADV.
Financial products averaged 24.2 million contracts daily, while commodities averaged 5.7 million. Equity Index ADV increased 13% year over year to 8.6 million contracts, Agricultural products ADV rose 6% to a record quarterly level of 2.1 million, and Metals ADV advanced 5% to 865,000 contracts. Non-U.S. ADV reached 9.1 million contracts, marking the third-highest international quarterly volume in the company's history.
CME Expenses Rise as Profitability Stays SolidTotal expenses increased to $599.1 million from $562.7 million in the year-ago quarter. Operating income was $1.11 billion compared with $1.13 billion a year earlier.
On an adjusted basis, operating expenses were $521.2 million and adjusted operating income totaled $1.19 billion. Adjusted operating margin remained strong at 69.5%, while adjusted net income increased 1% year over year to $1.08 billion.
CME’s Innovation Expands Product PortfolioCME continued to broaden its product lineup during the quarter. The company commenced 24/7 trading for its cryptocurrency futures suite and announced that 1-Ounce Gold futures would also begin trading around the clock.
Management also unveiled plans to launch Single Stock futures during the third quarter of 2026, introduce Compute futures later this year, roll out Treasury Link in the fourth quarter and expand CME Securities Clearing. These initiatives are intended to broaden the customer base and strengthen risk-management capabilities across asset classes.
CME’s Balance Sheet and 2026 OutlookCME ended the quarter with approximately $2.3 billion in cash and $3.4 billion of debt. During the quarter, the company paid regular dividends of approximately $468 million and repurchased $695 million of common shares.
Management expects full-year adjusted operating expenses, excluding license fees, of approximately $1.695 billion and capital expenditures, net of leasehold improvement allowances, of roughly $85 million. The adjusted effective tax rate is projected to be at the low end of the previously communicated 23.5-24.5% range. July trading activity has remained strong, with average daily volume trending toward the highest July in company history.
Zacks RankCME currently sports a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Industry PlayersThe Progressive Corporation’s (PGR - Free Report) second-quarter 2026 earnings per share of $4.85 beat the Zacks Consensus Estimate by 3.2%. The bottom line, however, decreased 6.1% year over year. Net premiums written were $21.1 billion in the quarter, up 5% from $20.1 billion a year ago.
Net premiums earned grew 6% to $21.6 billion. The reported figure met the Zacks Consensus Estimate. Net realized gains on securities were $604 million, up 56% year over year. Combined ratio — the percentage of premiums paid out as claims and expenses — deteriorated 110 basis points from the prior-year quarter’s level to 87.1.
The Travelers Companies, Inc. (TRV - Free Report) reported second-quarter 2026 core income of $10.04 per share, which beat the Zacks Consensus Estimate of $5.21 by 92.7%. The bottom line climbed 54% year over year. Revenues of $12.09 billion missed the Zacks Consensus Estimate of $12.27 billion by 1.5%.
Net investment income rose 14% year over year to $1.07 billion pre-tax ($883 million after tax). The combined ratio improved 670 basis points year over year to 83.6%, reflecting lower catastrophe losses, stronger reserve development and a better underlying combined ratio.
W.R. Berkley Corporation (WRB - Free Report) reported second-quarter 2026 operating income of $1.27 per share, which beat the Zacks Consensus Estimate by 16.5%. The bottom line increased 21% year over year. W.R. Berkley’s net premiums written were about $3.4 billion, up 2.4% year over year. The figure surpassed our estimate of $3.4 billion.
Operating revenues totalled $ 3.8 billion, up 3.6% year over year. The top line surpassed the consensus estimate by 1.87%. Net investment income grew 10.4% to $418.7 million, supported by higher invested assets and higher portfolio yields. The figure topped our estimate of $407 million. The consensus estimate was $395.6 million.
CME Group Inc. (CME) Q2 2026 Earnings Call July 22, 2026 8:30 AM EDT
Company Participants
Adam Minick - Investor Contact
Terrence Duffy - Chairman & CEO
Lynne Fitzpatrick - Senior MD, President & CFO
Tim McCourt - Senior MD & Global Head of Equities, FX and Alternative Products
Derek Sammann - Senior MD & Global Head of Commodities Markets
Julie Winkler - Senior MD & Chief Commercial Officer
Suzanne Sprague - Senior MD, Group COO & Global Head of Clearing
Michael Dennis - Senior Managing Director & Global Head of Fixed Income
Conference Call Participants
Daniel Fannon - Jefferies LLC, Research Division
Alex Kramm - UBS Investment Bank, Research Division
Christopher Allen - Keefe, Bruyette, & Woods, Inc., Research Division
Kenneth Worthington - JPMorgan Chase & Co, Research Division
Patrick Moley - Piper Sandler & Co., Research Division
Brian Bedell - Deutsche Bank AG, Research Division
Alexander Blostein - Goldman Sachs Group, Inc., Research Division
Benjamin Budish - Barclays Bank PLC, Research Division
Michael Cyprys - Morgan Stanley, Research Division
William Katz - TD Cowen, Research Division
Simon Alistair Clinch - Rothschild & Co Redburn, Research Division
William Qi - RBC Capital Markets, Research Division
Presentation
Operator
Welcome to the CME Group Second Quarter 2026 Earnings Call. [Operator Instructions]
I will now turn the call over to Adam Minick. Please go ahead.
Adam Minick
Investor Contact
Good morning, and I hope you're all doing well today. Earlier this morning, we released our earnings commentary, which provides extensive details on the second quarter 2026, which we will be discussing on this call. I'll start with the safe harbor language, and then I'll turn it over to Terry.
Statements made on this call and in the other reference documents on our website that are not historical facts are forward-looking statements. These statements are not guarantees of future performance. They involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes
Key Takeaways VLO offers stronger near-term upside, while CVE provides greater earnings resilience through integration.VLO benefits from complex Gulf Coast refineries, feedstock flexibility and firm refining margins.CVE targets more than 1 million BOE/d by 2028, but regulation and geopolitics cloud its outlook. Valero Energy Corporation (VLO - Free Report) and Cenovus Energy Inc. (CVE - Free Report) are two well-known names in the energy industry, operating in different segments. VLO is a leading firm in the downstream sector, with an extensive refining footprint. Notably, VLO operates a network of 14 refineries with approximately 3 million barrels per day of high-complexity throughput capacity and a combined Nelson Complexity Index of 11.5, indicating that it can process and refine a wide variety of feedstocks into higher-value products.
Cenovus Energy, on the other hand,is a Canada-based integrated energy company with exposure to both the upstream and downstream segments of the industry. The company’s upstream production is primarily focused on its Canadian oil sands assets, alongside conventional and offshore production, while its downstream infrastructure comprises refining assets in Canada and the United States.
Over the past year, VLO shares have rallied 116.7%, outperforming CVE’s 104.5% gain. Price performance alone does not fully indicate a stock’s attractiveness or strength, as it merely reflects investor sentiment across market cycles. Hence, it is necessary to assess the fundamentals and broader operating environment of both stocks before arriving at an investment decision.
Image Source: Zacks Investment Research
Valero Benefits From Strong Refining FundamentalsValero Energy stands out as a premier refining operator with an advantaged refining portfolio mainly concentrated along the U.S. Gulf Coast, enabling the company to benefit from feedstock sourcing flexibility, export infrastructure and exposure to global product markets.
Additionally, its complex refining system is capable of processing heavy sour grades into high-value refined products efficiently. Heavy sour crude has a higher sulfur content and typically trades at a discount to lighter crude grades because it is more difficult to refine. This provides cheaper feedstock for Valero’s refineries, thereby improving refining economics and supporting better margins. The flexibility of Valero’s refinery systems allows it to shift product yields between light products and distillates based on market signals to capture higher margins during volatile periods. This gives the refining player a competitive edge, as it can shift its production toward higher-margin products.
Moreover, renewed tensions between the United States and Iran have raised uncertainty regarding shipping traffic through the Strait of Hormuz, reigniting supply concerns. Notably, the supply disruptions have tightened refined-product markets at a time when global refining capacity remains constrained. These factors are expected to support refining fundamentals, keeping margins steady.
While geopolitical tensions in the Middle East may raise concerns regarding crude availability, VLO has stated that this is not a significant constraint because its refining network is heavily concentrated along the U.S. Gulf Coast and the Midcontinent.
Cenovus’ Integrated Business Model Supports Resilient GrowthCenovus Energy’s upstream production predominantly comes from its oil sands assets in Canada. Its oil sands assets are characterized by a low cost of production and a long reserve life. Following the acquisition of MEG Energy, the Christina Lake North expansion has emerged as one of Cenovus' most important growth assets, strengthening its long-term production outlook.
The company is pursuing several other growth projects, including Foster Creek optimization, Sunrise optimization and the West White Rose project, which are expected to contribute to its target of producing more than 1 million barrels of oil equivalent per day (BOE/d) by 2028.
While Canadian heavy crude is typically priced against the Western Canadian Select at a discount to the Western Texas Intermediate benchmark, Cenovus' integrated business model helps offset Canadian heavy oil price dislocations to some extent. Its access to pipeline capacity and midstream infrastructure, combined with reliable Canadian and U.S. refining operations, enables the company to process discounted heavy crude into higher-value refined products. This supports downstream margins and makes earnings less volatile.
Nevertheless, heightened geopolitical tensions in the Middle East have increased volatility in product prices, making future earnings more difficult to predict. Management cautioned that Canada's climate policies and regulatory framework have made the country less competitive for energy investments, discouraging new oil sands developments. While Cenovus continues to expand through brownfield developments and optimization projects, its long-term production growth will require a more competitive investment and regulatory environment.
Image Source: Cenovus Energy Inc.
Valuation SnapshotConsidering the valuation story, it has become evident that Valero Energy is currently trading at a premium compared with Cenovus Energy. This is reflected in the fact that VLO trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 9.68X, higher than CVE’s 7.07X.
Image Source: Zacks Investment Research
VLO vs CVE: Final VerdictVLO and CVX both have their own strengths. Valero offers greater near-term upside through strong refining margins and feedstock flexibility, while Cenovus combines low-cost oil sands production with an integrated business model that provides greater earnings resilience. However, the current geopolitical situation and Canada's regulatory environment may cloud the outlook for Cenovus.
Therefore, investors who wish to gain from VLO’s upside potential in the current environment may consider owning the stock, currently carrying a Zacks Rank #2 (Buy). CVE warrants a more cautious approach, carrying a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Rocket Lab (RKLB) rose 3.15% premarket after winning a $266 million firm-fixed-price contract from the US Department of War for suborbital launch services. The
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Motorola (MSI - Free Report) . This company, which is in the Zacks Wireless Equipment industry, shows potential for another earnings beat.
This communications equipment maker has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 4.48%.
For the last reported quarter, Motorola came out with earnings of $3.37 per share versus the Zacks Consensus Estimate of $3.25 per share, representing a surprise of 3.69%. For the previous quarter, the company was expected to post earnings of $4.36 per share and it actually produced earnings of $4.59 per share, delivering a surprise of 5.28%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Motorola. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Motorola currently has an Earnings ESP of +0.52%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Key Takeaways Royal Gold sold 69,000 GEOs in Q2, up 8% year over year but below Q1's 96,300 GEOs.RGLD's stream sales jumped to $311 million, while royalty sales are estimated at $137-$142 million.Royal Gold repaid $200 million of debt and settled an outstanding gold delivery with Americas Gold and Silver. Royal Gold, Inc. (RGLD - Free Report) issued a preliminary sales update for second-quarter 2026. In the quarter, Royal Gold sold 69,000 gold equivalent ounces (GEOs), comprising 54,500 ounces of gold, 595,500 ounces of silver, 2.5 million pounds of copper and 1.3 million pounds of lead.
This marks a decrease from 96,300 GEOs sold in the first quarter of 2026 but an increase from 63,900 GEOs sold in the second quarter of 2025.
In the second quarter of 2026, the cost of sales totaled $871 per GEO compared with $596 in the prior year quarter.
The company reported stream segment sales of $311 million compared with $123 million in the second quarter of 2025. Royalty segment sales for the second quarter of 2026 are estimated between $137 million and 142 million. The company posted Royalty segment sales of $51.1 million in the prior year quarter.
During the second quarter, RGLD repaid $200 million of debt. As of June 30, 2026, it had an outstanding balance of $400 million on its revolving credit facility, with $1.0 billion undrawn and available.
Royal Gold’s Other Updates Royal Gold and Americas Gold and Silver Corporation (USAS - Free Report) announced that they reached an agreement during the second quarter of 2026 to settle their outstanding gold delivery. USAS originally entered into a Precious Metals Delivery Agreement with Sandstorm Gold Ltd. in 2019 before Sandstorm Gold was acquired by Royal Gold in 2025. The new deal resolves America's Gold and Silver's outstanding commitment to deliver 8,861 ounces of gold to RGLD between June 2026 and December 2027.
Americas Gold and Silver will clear the outstanding obligation immediately in exchange for 5,000 ounces of gold and 2,652,532 common shares issued at a deemed price of $5.86 per share. RGLD recognized the proceeds from the settlement of the gold delivery as stream sales in the second quarter of 2026, which added $12 million of additional DD&A expense.
RGLD Stock’s Price Performance & Zacks RankIn the past year, Royal Gold shares have gained 24.4% compared with the industry’s growth of 32.3%.
Image Source: Zacks Investment Research
Royal Gold currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Preliminary Results of Other Mining StocksEndeavour Silver Corp. (EXK - Free Report) produced 1.94 million ounces of silver in the second quarter of 2026. This reflected a 31% increase from the year-ago quarter, driven by the addition of the Kolpa operation in May 2025. Endeavour Silver’s total gold production grew 35% year over year to 10,474 ounces. The company’s silver-equivalent ounces production increased 36% year over year.
Fortuna Mining Corp. (FSM - Free Report) produced 72,217 GEO from ongoing operations in the second quarter of 2026, bringing the total first-half production to 145,089 GEOs. With first-half production already exceeding half of Fortuna Mining’s lower-end guidance, the company seems on track to achieve its 2026 production target of 281,000-305,000 GEO. The second-quarter 2026 reported figure marked a 1.4% increase from the year-ago quarter. The reported figure was broadly in line with 72,872 ounces produced in the first quarter of 2026.
Key Takeaways NOC signed an MOU with Airbus to expand NATO ISR capabilities using MQ-4C Triton systems.The pact covers communications, data processing, intelligence analysis, dissemination and command systems.NOC's NATO experience and partnerships support faster deployment and allied interoperability. Northrop Grumman (NOC - Free Report) continues to strengthen its position in the Intelligence, Surveillance and Reconnaissance (ISR) market through its advanced unmanned aircraft systems, communications technologies and mission-critical defense solutions. The company develops integrated ISR capabilities that help military customers improve situational awareness, enhance decision-making and support operations across multiple domains.
A key example is Northrop Grumman's recently signed Memorandum of Understanding (MOU) with Airbus Defence and Space to support the expansion of the NATO Intelligence, Surveillance and Reconnaissance Force with MQ-4C Triton uncrewed aircraft systems. The collaboration will explore a transatlantic solution to deliver advanced ISR capabilities for NATO operations while strengthening defense cooperation across the Alliance.
Per the agreement, Northrop Grumman will work with Airbus and several European defense companies to provide services that include airborne and ground communications, data processing, intelligence analysis and dissemination, as well as command and control capabilities. The partnership also builds on the company's experience supporting NATO's existing RQ-4D Phoenix fleet, helping accelerate the deployment of next-generation ISR capabilities and strengthen interoperability among allied forces.
As defense agencies worldwide continue to invest in advanced ISR capabilities, demand for integrated surveillance, communications and command systems is expected to remain strong. Northrop Grumman's expanding international partnerships, proven MQ-4C Triton platform and expertise in communications, networking and mission systems position it well to benefit from long-term defense modernization programs and growing demand for ISR solutions.
Other Stocks to Keep on the WatchlistOther aerospace and defense companies expanding their ISR capabilities are discussed below:
General Dynamics (GD - Free Report) : Through its General Dynamics Information Technology business, the company provides ISR and C5ISR solutions, including secure communications, systems integration and mission support services for military customers.
L3Harris Technologies (LHX - Free Report) : The company offers advanced ISR solutions, including airborne sensors, intelligence systems and secure communications that help improve surveillance, information sharing and mission effectiveness.
The Zacks Rundown for NOCShares of NOC have lost 0.2% in the past month compared with the industry’s 3.6% decline.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.60X compared with its industry’s average of 2.46X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NOC’s 2026 earnings has moved south over the past 60 days.
Interactive Brokers (IBKR) experienced a slight decline in stock price following a robust Q2 earnings report. The company posted earnings per share (EPS) of $0.
Key Takeaways IBKR beat Q2 earnings estimates as revenues, customer accounts and DARTs increased y/y.IBKR reported adjusted net revenues of $1.88 billion, while the pre-tax profit margin rose to 77%.Interactive Brokers strengthened its capital position with higher cash, total assets and equity balances. Interactive Brokers Group’s (IBKR - Free Report) second-quarter 2026 adjusted earnings per share of 69 cents surpassed the Zacks Consensus Estimate of 64 cents. The bottom line reflected a rise of 35.3% from the prior-year quarter.
Results were primarily aided by an increase in revenues, growth in customer accounts and a rise in daily average revenue trades (DARTs). However, higher expenses were the undermining factor.
After considering non-recurring items, net income available to common shareholders (GAAP basis) was $312 million, up from $224 million in the prior-year quarter.
Interactive Brokers reported comprehensive income available to common shareholders of $297 million, or 66 cents per share, compared with $303 million, or 69 cents per share, in the prior-year quarter.
IBKR’s Revenues Improve, Expenses RiseAdjusted net revenues were $1.88 billion, up 27.2% year over year. Total GAAP net revenues were $1.90 billion, up 28.1% year over year. The Zacks Consensus Estimate for the top line was $1.79 billion.
Total non-interest expenses increased 17% year over year to $440 million. The rise was due to an increase in almost all cost components, except for communications costs.
Income before income taxes was $1.46 billion, up 31.9% year over year.
The adjusted pre-tax profit margin was 77%, up from 75% a year ago.
In the reported quarter, total customer DARTs jumped 36% year over year to 4.82 million.
Customer accounts grew 34% from the year-ago quarter to 5,185,000.
Interactive Brokers’ Capital Position StrongAs of June 30, 2026, cash and cash equivalents (including cash and securities set aside for regulatory purposes) totaled $103.9 billion compared with $81.8 billion as of Dec. 31, 2025.
As of June 30, 2026, total assets were $247.3 billion compared with $203.2 billion as of Dec. 31, 2025. Total equity was $22.3 billion, up from $20.5 billion as of Dec. 31, 2025.
Our View on IBKRInteractive Brokers' efforts to develop proprietary software and enhance its emerging market customers and global footprint, along with its product suite expansion, are expected to continue aiding revenues. However, elevated expenses and high exposure to overseas geopolitical risks are headwinds.
Currently, Interactive Brokers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Release Dates of IBKR’s PeersHere are some of IBKR’s peers that are yet to come out with quarterly numbers.
Robinhood Markets (HOOD - Free Report) is slated to announce quarterly numbers on July 29.
In the past week, the Zacks Consensus Estimate for Robinhood’s quarterly earnings has moved lower to 39 cents. The figure suggests a 7.1% decline from the prior-year quarter reported number.
Tradeweb Markets (TW - Free Report) is slated to announce second-quarter 2026 results on July 30.
In the past week, the Zacks Consensus Estimate for TW’s quarterly earnings has been revised lower to 95 cents. The figure indicates a 9.2% rise from the prior-year reported number.
Travel + Leisure NYSE: TNL raised its full-year 2026 outlook after reporting stronger second-quarter results and announcing two acquisitions that management said will expand its resort network and owner base.
President and Chief Executive Officer Michael Brown said the company’s second-quarter and first-half performance reflected “consistent execution” and the durability of its business model, citing healthy owner trends, robust travel demand, recurring upgrade sales and increasing new owner sales.
For the second quarter, Travel + Leisure reported revenue of $1.06 billion and adjusted EBITDA of $269 million. Brown said gross vacation ownership interest, or VOI, sales increased 6% and exceeded the company’s guidance range, supported by high-quality tours and strong owner engagement. Volume per guest rose 2% year over year to $3,318, also ahead of plan.
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Chief Financial Officer Erik Hoag said revenue increased 4%, adjusted EBITDA rose 8% and adjusted earnings per share grew 14% in the quarter. Adjusted EBITDA margin expanded 70 basis points, which he attributed to operating leverage across the business.
Vacation Ownership Drives Growth The company’s Vacation Ownership segment remained the primary driver of results. Hoag said gross VOI sales increased 6% to $693 million, while segment revenue rose 6% to $907 million. Segment adjusted EBITDA increased 13% to $247 million.
Hoag said tours increased 1% in the quarter, reflecting solid demand and new owner acquisition. New owner mix was slightly higher year over year, with healthy transaction volume and close rates.
Brown said the company’s consumer remains healthy and continues to prioritize travel. He pointed to first-half arrivals, adjusted for strategic resort closures, increasing year over year, as well as strong forward bookings. The booking window was 109 days and the average length of stay was four days, both at or above prior-year levels.
In response to a question from Patrick Scholes of Truist Securities about the state of the consumer, Hoag said booking patterns, forward bookings, length of stay and distance traveled remained consistent with what the company saw in the first quarter. “We’ve not seen anything in our metrics that would indicate there’s a weakening occurring,” Hoag said.
Guidance Raised After Strong First Half and Acquisitions Travel + Leisure raised its full-year outlook, citing stronger-than-expected core business performance and the expected contribution from the acquisitions of Yes& Vacations and Spinnaker Resorts.
Hoag said that, excluding acquisitions, the company now expects full-year adjusted EBITDA of $1.05 billion to $1.065 billion. Including the expected contribution from the acquisitions, Travel + Leisure now expects:
Gross VOI sales of $2.6 billion to $2.675 billion; Adjusted EBITDA of $1.065 billion to $1.085 billion; A consolidated loan loss provision rate of approximately 21%; A full-year adjusted tax rate of approximately 29%; Free cash flow conversion of roughly half of adjusted EBITDA; and Year-over-year adjusted EPS growth of approximately 20%. For the third quarter, the company expects gross VOI sales of $700 million to $740 million, adjusted EBITDA of $275 million to $285 million, and volume per guest of $3,300 to $3,350.
Yes& Vacations and Spinnaker Resorts Add Resorts and Owners Brown said the acquisitions of Yes& Vacations and Spinnaker Resorts add 23 resorts, including six properties in Hilton Head and seven in Maui. He described those markets as high-demand leisure destinations where new development is challenging.
The acquisitions also add more than 100,000 owners, expanding Travel + Leisure’s owner base by more than 10%. Brown said the acquired owners are similar in age and average income to the company’s existing owner base, and approximately 80% have fully paid off their timeshare loans.
Hoag said Travel + Leisure is investing approximately $340 million to acquire businesses expected to generate about $50 million of adjusted EBITDA on a full-year synergized basis. After securitizing roughly $80 million of finance receivables, he said net capital deployed falls to about $260 million, implying a net investment multiple of approximately 5 times adjusted EBITDA.
Hoag said the transactions add approximately 0.2 turn of leverage, and the company expects to end 2026 with leverage of 3.2 times. He said the deals were funded through cash and existing debt capacity and did not require a change to the company’s capital return commitment.
During the question-and-answer portion of the call, Brown said the acquisitions provide both resort portfolio expansion and a larger owner base for potential future upgrades, particularly as owners are introduced to Travel + Leisure’s broader network and points-based system.
Capital Returns Continue Management emphasized that shareholder returns remain a priority. Brown said the company returned $253 million to shareholders through dividends and share repurchases during the first half of the year and reduced common shares outstanding by 4%.
Hoag said the company repurchased approximately $88 million of common stock in the second quarter, up 25% from the prior year, while continuing to pay its quarterly dividend. He said Travel + Leisure expects a similar level of buybacks in 2026 compared with 2025, even after the announced acquisitions.
The company ended the quarter with more than $1.2 billion of available liquidity across cash and its revolving credit facility. Hoag also said Travel + Leisure completed its second asset-backed securities transaction of the year, raising $300 million at a 98% advance rate and a 5.52% coupon.
Loan Performance and Segment Trends Hoag said credit performance remained consistent with underwriting standards. Weighted average FICO scores at origination remained above 740, down payment levels improved year over year, and the loan provision rate was flat year over year. Delinquency rates improved sequentially from the first quarter.
Asked about loan loss trends, Hoag said early-stage delinquencies improved by roughly 80 basis points from the first quarter, more than the roughly 40 basis points of seasonal improvement the company would typically expect. He reiterated that Travel + Leisure expects its organic 2026 loan loss provision to be below 2025 levels, though the acquired portfolios are expected to add some pressure.
The Travel and Membership segment remained under pressure. Hoag said second-quarter revenue declined 5% to $157 million, while segment adjusted EBITDA fell 11% to $49 million, reflecting the continued evolution of the exchange business. He said the company is focused on stabilizing long-term earnings and free cash flow through operational improvements, strategic partnerships and digital initiatives.
Brown also highlighted progress in Travel + Leisure’s multi-brand strategy, saying Margaritaville is on track to exceed $150 million in annual VOI sales, Accor Vacation Club sales are on track to nearly double in 2026, and Eddie Bauer Adventure Club sales are exceeding expectations. Sports Illustrated Resorts is progressing, with the Nashville resort expected to open in the third quarter and sales already underway at a new sales center.
Brown closed the call by saying 2026 is “shaping up to be another great year” for the company, supported by first-half growth, the two acquisitions and continued capital discipline.
About Travel + Leisure (NYSE:TNL)Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.
In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.
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