Amazon (AMZN -4.57%) fell about 4.6% on Thursday, and the company itself didn't report a thing. Most of the selling traces to other companies' earnings reports, though a new Senate inquiry into the company's marketplace added to the pressure. Alphabet bumped its 2026 capital spending plan to as high as $205 billion on Wednesday, and Tesla told investors its own capital spending will exceed $25 billion this year. Big tech fell broadly on the news, with all of the "Magnificent Seven" megacap stocks trading lower.
Amazon got caught in that downdraft for a specific reason. It has an AI (artificial intelligence) spending plan as big as any of them, at about $200 billion in expected capital expenditures for 2026. Alphabet's guidance raise arrived alongside negative free cash flow, and together they reminded investors that these budgets can still grow. Amazon reports its second-quarter results on July 30. The market spent Thursday pricing in the possibility that its number moves meaningfully higher, too.
Image source: Amazon.
The concern isn't hypothetical. Amazon's free cash flow for the trailing 12 months had already fallen to $1.2 billion as of the first quarter. A year earlier, that figure was $25.9 billion.
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But the other side of the ledger is growing, too. Amazon Web Services, the company's cloud computing business, grew revenue 28% year over year in the first quarter to $37.6 billion. That was its fastest growth in 15 quarters, and an acceleration from 24% the quarter before. The spending is buying acceleration, at least so far.
The stock now sits 16% under its 52-week high of $278.56. And it trades at about 29 times earnings, arguably a modest multiple next to several of its megacap peers.
What could override Thursday's worry on July 30 is straightforward: AWS growth accelerating even more, and a capital spending plan that doesn't lurch higher.
Daniel Sparks has clients with positions in Tesla. The Motley Fool has positions in and recommends Alphabet, Amazon, and Tesla. The Motley Fool has a disclosure policy.
Norsk Hydro is transforming into a vertically integrated, low-carbon aluminum leader with strong renewable power and recycling assets. Q2 2026 results highlight Hydro's integrated model: NOK 56.49B revenue (+6%), NOK 8.92B adjusted EBITDA (+15%), and NOK 4B free cash flow. Hydro benefits from European aluminum scarcity, regional premiums, and long-term power contracts while maintaining disciplined capacity deployment.
Nvidia (NVDA -1.56%) has been on an incredible run in recent years. Shares have skyrocketed 978% since late July 2021 (as of July 22), a gain no investor can complain about.
But this leading artificial intelligence (AI) stock has slowed down. It's up 12% in 2026, barely beating the S&P 500 index. Investors have come to expect more from Nvidia. Here's what its muted performance so far this year might suggest.
Image source: The Motley Fool.
How durable is Nvidia's success? To be clear, a 12% price gain in less than seven months isn't anything to be disappointed by. It's just that because the stock rose 39% in 2025, 171% in 2024, and 239% in 2023, the investment community -- which has been primed to have persistently high expectations -- might be worried that slower returns are a sign of what's to come. It's impossible to know if this is the case, though.
Nvidia's business continues to fire on all cylinders. Revenue surged 85% year over year in the 2026 second quarter (ended April 26) to $81.6 billion, establishing a fresh record. Demand is off the charts, as hyperscalers keep spending aggressively to build data centers for AI training and inference. The innovation pipeline is robust, and the company's profitability is incredible.
According to management, the future could not be brighter. "AI infrastructure spending is on track to reach $3 trillion to $4 trillion annually by the end of this decade," chief financial officer Colette Kress said on the latest earnings call. As long as the AI spending boom continues, Nvidia will benefit.
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But that draws attention to what may be the biggest question the market has. And this relates to the durability of its success. The hyperscalers are developing their own custom chips in-house to lessen their dependence on Nvidia's powerful graphics processing units (GPUs). Even though the demand is strong today, this introduces a long-term risk as Nvidia's most important customers seek an exit strategy.
What's more, AI-related capital expenditures could drastically come down if the ultimate returns don't live up to expectations. This is a huge unknown.
Wall Street also expects sales gains to decelerate. Sell-side consensus estimates call for revenue to increase 219% between fiscal 2026 and fiscal 2029, a significantly slower pace than the 700% reported in the prior three years.
This AI stock's valuation is compelling Nvidia shares currently trade 10% off their peak, as investors take a breather. The valuation is very compelling: The stock can be bought right now at a forward price-to-earnings ratio of 23.6, representing a small 10% premium to the S&P 500 index.
It might be too hard to pass on buying this AI stock, even incorporating the risks mentioned.
Netflix (NFLX +0.53%) is struggling to change investor sentiment, which turned negative last year.
*Stock prices used were the afternoon prices of July 21, 2026. The video was published on July 23, 2026.
Parkev Tatevosian, CFA has positions in Netflix. The Motley Fool has positions in and recommends Netflix. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
American Express enters Friday’s earnings report with options traders preparing for an almost $12 swing in its shares, but positioning offers little agreement over direction.
The split reflects unusually balanced fear of disappointment and hope for upside.
Contracts expiring on July 24 imply a move of about 3.5%, based on a snapshot taken when the stock traded near $341.89.
American Express stock NYSE:AXP later closed Thursday at $340.84, down 2.3%. The figure therefore represents the expected magnitude of the reaction, not a forecast that the shares will rise or fall.
The company is due to release results at about 7 am ET, followed by an earnings call at 8:30 am ET.
The implied move comes from the $342.50 at-the-money straddle.
The call traded near $6, while the corresponding put cost $5.97, producing a combined premium of $11.97 and an estimated range of roughly $329.92 to $353.86.
Activity elsewhere in the chain shows the same two-sided tension.
Nearly 1,000 puts traded at the $330 strike and more than 500 changed hands at $335, pointing to demand for downside protection.
Call volume exceeded 1,900 contracts at $350 and 2,200 at $352.50, suggesting traders were also positioning for a breakout.
That does not guarantee volatility buyers will profit.
If American Express stays inside the implied range, the earnings premium embedded in both calls and puts could collapse after the announcement.
Wall Street expects second-quarter earnings of about $4.40 a share and revenue near $19.69 billion.
Those figures provide the first test, but management’s outlook for spending, credit and costs is likely to drive the larger reaction.
Evercore ISI analyst John Pancari raised his price target to $380 from $345 while retaining an In Line rating.
TipRanks reported that Pancari sees “forward guidance” as the key focus while interest rates remain higher for longer.
American Express entered the quarter forecasting 2026 revenue growth of 9% to 10% and earnings of $17.30 to $17.90 a share.
A change to either range could push the stock beyond the options-implied band.
The company must also control expenses.
First-quarter costs rose as rewards, customer benefits and marketing investments increased, supporting engagement but potentially pressuring margins if revenue growth slows.
American Express’s premium cardholder base remains the strongest argument for an upside surprise.
First-quarter cardmember spending rose 9% on a currency-adjusted basis, while revenue increased 11% to $18.9 billion.
JPMorgan analyst Richard Shane upgraded the shares to Overweight and lifted his target to $400 from $328.
He views high-income customers as “relatively shielded” from the Middle East crisis and American Express as exposure to the “most insulated cohort in consumer finance.”
Investors will watch billed-business growth, travel and entertainment spending, card-fee income, customer acquisition and credit quality for evidence that this resilience is holding.
The valuation debate remains unresolved.
American Express carries a Moderate Buy consensus, but BTIG analyst Vincent Caintic retained a Sell rating despite lifting his target to $324 from $285.
His target remains below Thursday’s close, showing that stronger earnings do not automatically make the shares inexpensive.
Dover Corporation is rated a Buy after a strong Q2, despite a minor revenue miss and share price drop. Gross and operating margins expanded, with LTM bookings accelerating to 15% YoY and diversified end-market exposure—especially in data centers and AI-related segments. Capital allocation in the Climate & Sustainability segment raises questions, but overall ROE and margin improvements support the bullish thesis.
General Mills is rated Strong Buy, with compelling valuation and a solid cost-saving strategy despite rising macro risks. GIS targets $3 billion in cumulative cost savings by FY30, prioritizing balance sheet improvements and limiting buybacks to offset dilution. FY27 guidance anticipates organic net sales down 1.5% to up 0.5%, with Adj. Operating Profit declining 8–13%, mainly due to non-recurring factors.
The AUD/JPY cross trades in positive territory around 114.25 during the early European trading hours on Friday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) on a strong Australian employment report for June.
Australia’s Unemployment Rate stayed at 4.4% in June, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in line with the market consensus. Meanwhile, the Employment Change came in at 76.3K in June from a rise of 44K in May (revised from 40.3K), better than the forecast of a 15K increase.
Nonetheless, fears of currency intervention from Japanese authorities could lift the JPY and cap the upside for the cross. Japan’s Finance Minister Satsuki Katayama said on Friday that officials are ready to act appropriately on currency shifts whenever necessary. Katayama added that the authorities are prepared to take decisive steps on the foreign exchange.
Technical Analysis:In the daily chart, AUD/JPY retains a bullish bias as price holds firmly above the 100-day simple moving average (SMA) and the Bollinger Bands’ 20-day SMA, keeping the broader uptrend intact. The Relative Strength Index (RSI) at 63 suggests firm positive momentum, edging toward overbought territory and hinting that upside progress could slow as buyers confront nearby resistance.
On the topside, immediate resistance is aligned with the Bollinger upper band around 114.70. A decisive break above the latter would open the way to the June 2 high of 114.92.
On the downside, initial support is seen at the June 16 high of 113.55. The next contention level is located at the Bollinger middle band at 112.95, followed closely by the 100-day SMA at 112.85; a sustained move below these levels would signal a deeper correction toward the lower Bollinger band around 111.22.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Audjpy faces seasonal headwinds into late summerAccording to TD Securities, seasonal patterns argue for caution on AUD/JPY over the coming months. The bank highlights that the cross has "historically experienced bearish seasonality in July and August," noting that in particular, "the pair was down in August 71% of the time over the past 20 years for an average loss of -1.5%." TD Securities suggests this track record reinforces the case for a more defensive stance as the market moves deeper into the late-summer period.
Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
TL;DR: Gold and Silver tumbled as markets returned to the oil-rates relationship that governed Q2, with Brent above $100 and 10-year Treasury yields above 4.7% restoring pressure on the metals — leaving their next move hostage to Trump’s binary decision on Iran.
Why This Matters Gold and Silver tumbled as markets returned to trading precious metals through the oil-rates relationship that governed markets in Q2. Brent’s move above $100 lifted inflation expectations, while the US 10-year Treasury yield surged beyond 4.7%. Investors responded by extending higher-for-longer Fed pricing, restoring pressure on non-yielding assets after a brief period in which geopolitical demand had insulated them from rising yields.
That earlier resilience this week now looks like a temporary anomaly rather than a durable shift in intermarket relationships. Attention has moved from the war itself to the economic consequences of the war. Higher oil threatens to keep inflation elevated, stronger inflation would push the Fed toward tightening, and rising Treasury yields increase the relative appeal of interest-bearing assets over Gold and Silver.
Trump’s Binary Choice on Iran With that relationship restored, Gold and Silver are now highly exposed to US President Donald Trump’s next decision on Iran. As the conflict enters its fifth month without a clear end in sight, Trump is reportedly becoming increasingly frustrated and impatient, and leaning toward greater use of force rather than extended diplomacy. Additional US forces, medical units, and weaponry are also being moved into the region, increasing the risk that the next step will be dramatic rather than incremental.
Trump appears to face an binary choice: a major military escalation, potentially including deployment of ground forces, or a negotiated settlement. Either outcome could produce an abrupt move in oil. What matters for precious metals is that the current oil-rates transmission is likely to remain intact, amplifying Gold and Silver’s response in either direction.
Escalation scenario: Stronger oil would lift inflation expectations, reinforce expectations that the Fed must keep rates high, and push Treasury yields higher — intensifying pressure on Gold and Silver and potentially accelerating their declines. Settlement scenario: Falling oil would ease inflation concerns and drag yields lower, creating conditions for a strong rebound in both metals. Direction therefore depends on Trump’s choice, but the current macro relationship points to a clear transmission in either scenario.
ActionForex’s Technical View on Gold Gold’s rebound from 3,959.42 to 4,166.08 this week looks more like another leg within the triangle consolidation from 3,942.23 than the start of a sustained recovery. Price is still well below the falling 55-day EMA, reinforcing the view that the decline from 4,889.24 is not complete. An eventual break of 3,942.23 is favored, targeting the 38.2% projection of 4,889.24 to 3,942.23 from 4,166.08 at 3,804.32, followed by the 61.8% projection at 3,580.82. Even in the case of another rebound, the outlook will stay bearish while the 38.2% retracement at 4,303.98 holds.
ActionForex’s Technical View on Silver Silver’s rebound from 54.77 was slightly stronger than expected, but it remained well below the 63.25 structural resistance and comfortably under the falling 55-day EMA. Another decline through 54.77 is still expected, with the $50 psychological level the next target. That area is close to the 76.4% retracement of 28.28 to 121.83 at 50.35. A break of 63.25 is needed to provide the first sign of bottoming; otherwise, downside risk will continue to dominate.
Key Takeaways The oil-rates relationship that drove Q2 trading has reasserted itself, ending the brief window in which geopolitical demand insulated Gold and Silver from rising yields. Brent above $100 and 10-year yields above 4.7% are the two levers now driving precious metals sentiment. Trump’s Iran decision is effectively binary — escalation or settlement — and both scenarios transmit cleanly into oil, yields, and metals. Gold’s structure favors an eventual break of 3,942.23, targeting 3,804.32 and then 3,580.82, while 4,303.98 caps any bullish reassessment. Silver needs a break of 63.25 to signal bottoming; until then, $50 remains the next downside target.
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
On July 23, 2026, RH (RH) shares fell 5.2% to a current price of $166.08. The stock has seen significant volatility over the past year, with a 52-week range bet
Many investors are debating whether Micron (MU +2.51%) stock is an attractive purchase for long-term investment.
*Stock prices used were the afternoon prices of July 21, 2026. The video was published on July 23, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
Taiwan Semiconductor (TSM -1.42%) is arguably the best manufacturing company in the world.
*Stock prices used were the afternoon prices of July 21, 2026. The video was published on July 23, 2026.
Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The Market Is Selling Everything, but These 5 Stocks Aren't Breaking DownThermo Fisher Scientific NYSE: TMO reported stronger-than-expected second-quarter 2026 results and raised its full-year outlook, citing improving customer activity across end markets, broad-based growth and contributions from recent acquisitions.
Chairman and Chief Executive Officer Marc Casper said the company delivered an “outstanding quarter,” with revenue rising 10% to $11.99 billion. Adjusted operating income increased 15% to $2.73 billion, while adjusted operating margin expanded 90 basis points to 22.8%. Adjusted earnings per share grew 13% to $6.03.
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The Often-Missed Corner of Healthcare That Wall Street Is LovingChief Financial Officer Jim Meyer said the results were meaningfully ahead of the company’s prior assumptions. Revenue was about $300 million above previous guidance, helped by stronger organic growth, acquisitions and foreign exchange. Adjusted EPS was $0.30 ahead of prior guidance, which Meyer attributed to revenue pull-through, cost productivity and acquisition performance, including Clario.
Customer Activity Strengthens Across End Markets Thermo Fisher reported 5% organic revenue growth in the quarter. Casper said customer activity continued to improve across the company’s end markets, with particular strength in pharma and biotech, the company’s largest end market.
Sector Rotation: 2 Smart Money Moves for 2026In pharma and biotech, revenue grew in the mid-single digits, led by bioproduction, clinical research and the research and safety market channel. Casper said biotech spending improved and began translating into revenue after earlier signs of increased activity.
Academic and government revenue grew in the low single digits, driven by chromatography and mass spectrometry. Casper said the market is stabilizing, with strong adoption of new instruments globally and U.S. academic and government revenue returning to growth, though he cautioned that the company is not yet calling it a sustained new trend.
Industrial and applied revenue grew in the mid-single digits, led by electron microscopy, chemical analysis and the research and safety market channel. Diagnostics and healthcare also grew in the mid-single digits, driven by the healthcare market channel and immunodiagnostics.
Segment Results Show Broad Growth Meyer said all four business segments contributed to the quarter’s performance. In Life Sciences Solutions, reported revenue increased 13%, while organic revenue grew 3%. Growth was led by bioproduction, which Meyer said had another quarter of excellent organic growth. Adjusted operating margin in the segment rose 20 basis points to 37.0%.
Analytical Instruments posted 7% growth on both a reported and organic basis. Meyer said all three businesses in the segment grew, led by electron microscopy. Adjusted operating income increased 30%, and adjusted operating margin expanded 420 basis points to 23.0%.
Specialty Diagnostics revenue increased 6% on a reported basis and 5% organically. Growth was led by the healthcare market channel, immunodiagnostics and transplant diagnostics. Adjusted operating margin rose 70 basis points to 27.7%.
Laboratory Products and Biopharma Services reported 12% revenue growth and 5% organic revenue growth. The research and safety market channel and clinical research business led growth. Adjusted operating margin increased 20 basis points to 14.0%.
Innovation and Acquisitions Remain Key Priorities Casper highlighted several product launches during the quarter, including next-generation Orbitrap platforms and AI-driven capabilities introduced at the American Society for Mass Spectrometry conference. He pointed to the Thermo Scientific Orbitrap Tribrid Apex Mass Spectrometer and Orbitrap Excedion Mass Spectrometer as tools designed to support research and drug development applications.
The company also launched the Thermo Scientific Vanquish Amplify UHPLC system and the Applied Biosystems PowerFlex Thermal Cycler. Casper said customer adoption of recent innovations has been strong, particularly in analytical instruments.
Thermo Fisher also discussed progress integrating recent acquisitions. Casper said the Clario acquisition, completed in late March, delivered a strong second quarter, with integration progressing smoothly and revenue synergy opportunities building. He said the filtration and separation business also continues to perform well, with positive customer feedback and strong demand.
The company also expects to close the divestiture of its microbiology business in the third quarter. Meyer said the transaction is expected to reduce 2026 revenue by about $200 million, net of the retained channel business, and reduce 2026 adjusted EPS by $0.05. Thermo Fisher used anticipated net proceeds from the transaction to repurchase $1 billion of shares in the second quarter.
Full-Year Guidance Raised Thermo Fisher raised its 2026 revenue guidance to a range of $47.4 billion to $48.1 billion, representing 6% to 8% reported revenue growth over 2025. The company now expects full-year organic revenue growth of about 4%, at the upper end of its 3% to 4% guidance range.
The company also increased adjusted EPS guidance to a range of $24.93 to $25.33, representing 9% to 11% growth over 2025 and a $0.25 increase at the midpoint from prior guidance.
Meyer said the revised EPS midpoint reflects $0.30 from second-quarter outperformance and $0.05 from a higher second-half revenue outlook, partially offset by a $0.05 impact from the microbiology divestiture and a $0.05 foreign exchange headwind in the second half.
Thermo Fisher now expects acquisitions to contribute $1.6 billion of revenue and $0.32 of adjusted EPS for the year. The company continues to expect free cash flow of $6.9 billion to $7.4 billion and net capital expenditures of $1.9 billion to $2.1 billion.
Management Cites Pharma, Biotech and China Improvement During the question-and-answer session, Casper said the improved second-half outlook is primarily driven by pharma and biotech. He said clinical research had an excellent quarter, with strong organic revenue growth and authorizations, while pharma services delivered modest growth in line with expectations and is expected to strengthen in the second half based on production schedules and customer campaigns.
Casper also said China, which represents about 7.5% of company revenue, returned to low-single-digit growth. He said growth there was driven by pharma and biotech as well as industrial and applied markets, while academic and government demand in China remained muted.
On bioproduction, Casper said Thermo Fisher’s position across upstream and downstream workflows supported the strong quarter. He noted leadership in cell culture media and single-use technologies, a growing purification position and added filtration capabilities from the Solventum filtration and separation acquisition.
Casper closed the call by saying Thermo Fisher is “on track to deliver a strong year” as it continues to execute its growth strategy and manage the business through innovation, acquisitions and capital returns.
About Thermo Fisher Scientific (NYSE:TMO)Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Buffett Spent 60 Years Ignoring Tech and the Bill Is Coming DueUnion Pacific NYSE: UNP reported record second-quarter 2026 financial results, with executives citing volume growth, pricing gains and improved operating performance, while also raising the railroad’s full-year earnings outlook.
Chief Executive Officer Jim Vena said the company delivered “record financial results driven by strong execution and 2% volume growth.” Net income totaled $2 billion, and earnings per share were $3.36 on a reported basis. Adjusted for merger costs, EPS was $3.41.
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AI Broke the Trucks: 3 Transports to Buy After the AI Panic“There was a lot of in and outs as we compare our performance against last year,” Vena said, noting fuel was a major driver of both surcharge revenue and expense. Excluding those factors, he said Union Pacific saw “solid core improvement” in revenue and operating income.
Revenue Rises as Fuel Surcharges and Volume Lift Results Chief Financial Officer Jennifer Hamann said operating revenue rose 12% from a year earlier to $6.9 billion, while freight revenue also increased 12% to $6.5 billion. Fuel surcharge revenue contributed 750 basis points to freight revenue growth and increased by roughly $460 million, reflecting higher fuel prices and volume.
2026 Sector Playbook: 3 Sectors Trading Below Fair ValueVolume growth added 225 basis points to freight revenue, while core pricing and business mix contributed 175 basis points. Hamann said the company’s “quarterly pricing dollars continue to exceed inflation dollars” as Union Pacific competes for business at levels reflecting the value of its rail service.
Business mix was a slight headwind in the quarter, Hamann said, as stronger-than-expected domestic intermodal growth offset the mix benefit from lower international intermodal traffic.
Operating expenses rose 13% to $4.1 billion, primarily due to higher diesel fuel prices. Fuel expense increased 63%, driven by a 60% increase in the average fuel price and 2% higher gross ton miles. The company’s average price per gallon rose to $3.86 from $2.42 a year earlier, adding 120 basis points to the operating ratio.
Union Pacific’s operating ratio was 59.2% in the quarter. Hamann said cash from operations increased 21% to $5.5 billion, while free cash flow totaled $1.8 billion after network reinvestment and dividends. The company also paid down $1.5 billion of long-term debt in the first half, bringing adjusted debt-to-EBITDA to 2.5 times.
Company Raises 2026 EPS Outlook Union Pacific raised its 2026 outlook to reported EPS growth in the high single-digit range, up from its prior outlook for 6% year-to-date growth in line with January expectations. Hamann said the company expects continued operating ratio improvement despite pressure from fuel costs.
“Fuel prices remain volatile,” Hamann said, adding that recent purchases have been above $4 per gallon. In response to an analyst question, she said fuel would likely continue to pressure the operating ratio, but Union Pacific expects volume opportunities and productivity gains to help offset that headwind.
Vena said he would prefer lower fuel prices despite the revenue benefit from fuel surcharges, because sustained high fuel prices could affect customers and consumer demand. Hamann said the company has not yet seen that demand impact.
Bulk, Industrial and Premium Segments Show Mixed Trends Executive Vice President of Marketing and Sales Kenny Rocker said second-quarter freight revenue excluding fuel surcharge grew 4% to $5.5 billion, which he described as a record.
In the bulk segment, revenue rose 7% despite a 1% decline in volume. Grain and grain products posted double-digit volume growth, driven by export demand, facility expansions, renewable fuels and related feedstocks. Rocker said the category delivered record second-quarter volume and revenue. Coal volume was pressured by weaker natural gas prices, mild weather and customer downtime.
Industrial revenue increased 8% on 3% volume growth. Petrochemicals benefited from improved demand and new business, while metals and minerals volumes rose on higher domestic steel production and business development wins, offsetting weakness in export soda ash.
Premium revenue rose 21% on 4% volume growth and a 16% increase in average revenue per car. Domestic intermodal posted its fourth consecutive record quarter in both volume and revenue, with private asset, rail asset and parcel volumes all up double digits. Rocker said the business benefited from constrained truck capacity and share gains. International intermodal volume fell 14%, though the company saw improvement late in the quarter from stronger West Coast imports.
Looking ahead, Rocker said grain and grain products are positioned for further second-half growth, while coal is expected to remain challenging due to elevated inventories and lower natural gas prices. He also said domestic intermodal should continue to perform well, supported by over-the-road conversions and Union Pacific’s service product.
Operations Improve as Volume Grows Executive Vice President of Operations Eric Gehringer said Union Pacific delivered record second-quarter operating performance while handling 2% more volume. Employee and derailment rates improved compared with their respective three-year rolling averages.
Freight car velocity increased 5% to 231 miles per day, a second-quarter record. Train speed rose 3%, and terminal dwell improved 7% to 19.7 hours, matching the first-quarter record and marking the third straight quarter below 20 hours. Gehringer said both the intermodal and manifest service performance indexes finished at 95%.
The company also reported record workforce productivity, train length and fuel consumption performance. Locomotive productivity improved 1%, fuel consumption improved 1%, workforce productivity rose 5%, and train length increased 2% from a year earlier.
Gehringer said Union Pacific continues to make strategic capacity investments, including in the Houston Complex, Pacific Northwest siding extensions and Sunset Double Track projects.
Norfolk Southern Merger and CN Agreement Remain in Focus Vena also provided an update on Union Pacific’s proposed merger with Norfolk Southern. He said the Surface Transportation Board accepted the company’s application as complete on May 28 and that Union Pacific planned to submit supplemental information requested by the board on Monday.
Vena said Union Pacific has expanded its Committed Gateway Pricing and made other voluntary commitments intended to improve the competitive nature of the proposed merger. He also highlighted a newly announced merger settlement agreement with Canadian National.
Vena said the agreement with Canadian National addresses ownership and competitive issues involving the Kansas City terminal and Terminal Railroad Association of St. Louis, while also giving Canadian National access between east of St. Louis and Kansas City. He said the agreement would provide CN with a path to move traffic into Mexico and would give Union Pacific better east-to-west access through Chicago.
Vena argued the merger would create seamless single-line service, improve reliability, lower costs and make rail more competitive against trucks and other railroads. “Now versus almost one year ago when we first announced our plans to merge, we have even more conviction that our transaction is in the public interest,” he said.
About Union Pacific (NYSE:UNP)Union Pacific Corporation NYSE: UNP is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.
Union Pacific's core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.
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The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.
SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?Snap-On NYSE: SNA reported higher second-quarter sales and earnings, with management pointing to strength in its Commercial & Industrial business and continued demand from vehicle repair technicians despite what executives described as a highly uncertain operating environment.
Chief Executive Officer Nick Pinchuk said the quarter showed the company’s ability to execute amid “Ukraine, inflation, fluctuating tariffs, restructured supply chains” and tensions involving Iran. He said Snap-on benefited from long-running market trends, including the rising complexity of vehicles, an aging vehicle fleet, demand for precision and customization in critical industries, and the increasing importance of technology and proprietary software.
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Industrial Buybacks: Top Homebuilding Supplier Leads Buyback IncreasesNet sales rose 4.7% to $1.235 billion, including a 3% organic gain, $11.5 million from the recent acquisitions of Hi-Force Hydraulic Tools and Diesel Laptops, and $8.7 million from favorable foreign currency translation. Net earnings were $260.6 million, or $4.96 per diluted share, compared with $250.3 million, or $4.72 per diluted share, a year earlier.
Consolidated gross margin improved to 51.4% from 50.5%. Chief Financial Officer Aldo Pagliari said the 90-basis-point increase primarily reflected higher volume and savings from the company’s rapid continuous improvement initiatives. Operating earnings before financial services were $268.9 million, compared with $259.1 million a year earlier, while the operating margin before financial services edged down to 21.8% from 22.0%.
Commercial & Industrial Drives Growth MarketBeat Week in Review – 10/20 - 10/24The Commercial & Industrial, or C&I, segment posted the strongest performance among Snap-on’s operating groups. Sales rose to $395.8 million, up $48 million from the prior year, including an 11% organic gain, $6.8 million from the Hi-Force acquisition and $2.5 million from currency translation.
Pagliari said the organic improvement reflected gains in Asia-Pacific and European handheld tools businesses, as well as double-digit increases in specialty torque and power tools. Sales to critical industries rose mid-single digits, led by aviation activity in the U.S. and internationally, along with gains in heavy-duty fleets and technical education. Shipments for military applications remained “attenuated,” he said.
C&I operating earnings increased to $66.5 million from $46.9 million, and operating margin expanded to 16.8% from 13.5%. Pinchuk called the margin an all-time record for the segment and said demand was strong for custom kits, precision torque tools and power tools.
During the question-and-answer session, Pinchuk said the C&I gross margin improvement was not primarily due to mix, noting that the most profitable critical industries business grew below the segment average. He instead cited better performance in several product areas, including power tools and torque, as well as improved absorption in Asia-Pacific and Europe.
Tools Group Gains Despite Weak Tool Storage The Snap-on Tools Group reported sales of $508.8 million, up from $491.0 million a year earlier, reflecting a 3% organic sales gain and $2.9 million of favorable currency translation. Pagliari said the organic increase came from low double-digit gains in both U.S. and international operations.
Management said activity was helped by higher sales of featured new items, including power tools, air conditioning service products and diagnostics. Pinchuk said the company continued to pivot toward “quicker payback” products as technicians remain reluctant to take on longer-term obligations for larger purchases such as tool storage.
Operating earnings in the Tools Group declined to $115.1 million from $116.7 million, and operating margin fell to 22.6% from 23.8%. Pagliari said gross margin slipped 30 basis points to 48.0%, primarily due to product mix, partially offset by savings from improvement initiatives. Operating expenses rose due to higher personnel, freight and other costs.
In response to an analyst question about originations and higher-ticket items, Pinchuk said tool storage was down while diagnostics was up, with storage representing a larger portion of the financing mix. He said the first quarter’s stronger tool storage performance had been helped by a limited-edition product tied to the U.S. semiquincentennial.
Repair Systems & Information Mixed as OEM Dealers Slow Repair Systems & Information, or RS&I, reported sales of $480.3 million, compared with $468.6 million a year earlier. The increase included $3.2 million of organic growth, $4.7 million from the Diesel Laptops acquisition and $3.8 million from currency translation.
Pagliari said low single-digit increases in undercar equipment and in diagnostics and repair information products sold to independent repair shop owners and managers were mostly offset by weaker activity with OEM dealerships. Pinchuk said independent shops continued to invest in products that expand their capabilities, while OEM dealers showed hesitancy on capital expenditures as automakers slowed program launches.
RS&I operating earnings fell to $115.1 million from $119.8 million, and operating margin declined to 24.0% from 25.6%. Pagliari cited higher sales of lower-margin products, higher personnel and other costs, expanded technology investments and a modest impact from the Diesel Laptops acquisition.
Pinchuk said Snap-on is investing in its proprietary database and large language model efforts, which he said the company expects to benefit from over time. He also highlighted the launch of the Apollo handheld diagnostic unit, describing it as an entry point for technicians seeking intelligent diagnostics at a moderate cost.
Financial Services Revenue Slips Financial services revenue declined to $99.7 million from $101.7 million a year earlier, primarily due to lower interest income from a smaller average finance receivable portfolio. Financial services operating earnings were $67.5 million, compared with $68.2 million.
Total loan originations were $281.0 million, down $12.0 million, or 4.1%, from the prior year. Extended credit loan originations were $237.6 million, down 2.4%. Pagliari said the U.S. 60-day-plus delinquency rate for extended credit receivables was 1.7%, down 10 basis points from the prior year and 20 basis points from the previous quarter.
Outlook and Capital Allocation Snap-on generated $271.5 million in cash from operating activities during the quarter, up from $237.2 million a year earlier. Investing activities included $154.0 million for acquisitions, net of cash acquired, consisting of $99.1 million for Diesel Laptops and $54.9 million for Hi-Force. Capital expenditures were $23.1 million.
The company paid $126.4 million in dividends and repurchased 241,000 shares for $91.4 million. Pagliari said Snap-on had $185.5 million remaining under existing share repurchase authorizations at quarter-end.
For the remainder of 2026, Pagliari said corporate costs are expected to approximate $28 million in each of the next two quarters. The company expects full-year capital expenditures of about $100 million and an effective tax rate of approximately 22%.
Pinchuk said Snap-on remains confident in its ability to sustain progress through the rest of the year, citing resilience in vehicle repair and critical industries. “The results taken individually or collectively are marked by momentum, strength, and continuing green shoots,” he said.
About Snap-On (NYSE:SNA)Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.
Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
EUR/JPY extends its gains for the fourth consecutive day, trading around 186.50 during the Asian hours on Friday. The currency cross is maintaining a bullish near-term bias as price holds above both the nine-period and 50-period Exponential Moving Averages (EMAs). The positioning above these trend filters, together with a 14-day Relative Strength Index (RSI) around 60, suggests constructive upside momentum while stopping short of overbought territory.
The daily chart technical analysis shows an ascending triangle has morphed into a rising wedge, signaling a shift from bullish accumulation to market exhaustion, typically indicating a strong bearish reversal risk.
The EUR/JPY cross is positioned within the rising wedge, with targeting the upper boundary around 186.80. Further advances would support the currency cross to navigate the region around the all-time high of 187.95, which was recorded on April 17.
On the downside, the initial support lies at the nine-day EMA of 185.94, with additional backing at the 50-day EMA of 185.26, aligned with the lower boundary of the rising wedge. Further declines below the wedge put downward pressure on the EUR/JPY cross to navigate the region around the five-month low of 181.87, recorded on March 16, and the seven-month low of 180.81.
EUR/JPY: Daily Chart(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.09%0.00%-0.03%-0.06%-0.08%-0.12%0.03%EUR0.09%0.06%0.02%-0.02%-0.06%-0.09%0.06%GBP-0.01%-0.06%-0.02%-0.07%-0.11%-0.12%0.01%JPY0.03%-0.02%0.02%-0.02%-0.07%-0.09%0.04%CAD0.06%0.02%0.07%0.02%-0.04%-0.08%0.07%AUD0.08%0.06%0.11%0.07%0.04%-0.02%0.09%NZD0.12%0.09%0.12%0.09%0.08%0.02%0.13%CHF-0.03%-0.06%-0.01%-0.04%-0.07%-0.09%-0.13% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Gold (XAU/USD) attracts sellers for the second straight day on Friday and weakens further below the $4,050 level during the Asian session. Escalating US-Iran tensions remain supportive of elevated crude oil prices, fueling inflation fears and bolstering expectations of higher-for-longer US interest rates. This, in turn, helps the US Dollar (USD) to preserve its strong weekly gains to a nearly one-month high, touched on Thursday, and turns out to be a key factor undermining the non-yielding bullion.
The US military announced that it has completed another round of strikes against Iran on Thursday, marking the 13th straight night of operations. In a statement, US Central Command (CENTCOM) said that its forces targeted “Iranian military command centers, drone storage facilities, communication networks, coastal surveillance sites, and maritime capabilities.” The attack was aimed at diminishing further the threat Iran poses to civilian mariners and commercial vessels transiting the Strait of Hormuz.
The latest strikes come amid a widening regional confrontation, with Iran and its allies launching retaliatory strikes against US-linked military assets in Kuwait, Bahrain and Jordan. Moreover, Iran-aligned Houthi forces struck two Saudi oil tankers in the Red Sea, describing the action as part of a naval blockade against Saudi Arabia and extending the Middle East war to a second major shipping chokepoint. This exacerbates supply disruption concerns and lifts crude oil prices to a fresh high since June 11.
Investors remain worried that elevated crude oil prices will rekindle inflationary pressure and force major central banks, including the US Federal Reserve (Fed), to adopt a more hawkish stance. Adding to this, data released on Thursday showed that US Jobless Claims fell to the lowest level since September 1969, pointing to a resilient labor market. This should allow Fed officials to keep their focus on containing inflation, which backs the case for at least one interest rate hike move by the end of this year.
Meanwhile, US President Donald Trump imposed sweeping new tariffs ranging from 10% to 12.5% on 60 of the country's key trading partners, covering 99.4% of US imports. The latest developments threaten to reignite a global trade war, tempering investors' appetite for riskier assets and further benefiting the Greenback's reserve currency status. This, in turn, backs the case for an extension of the XAU/USD pair's pullback from a two-week top, set on Wednesday, as the focus shifts to the FOMC next week.
XAU/USD 4-hour chart
Gold turns vulnerable after failing near 200-EMA on H4From a technical perspective, this week's failure near the 200-period Exponential Moving Average (EMA) and the subsequent fall suggest that the recent bounce from the $3,960-$3,959 area, or the monthly low, has run out of steam. Adding to this, the Moving Average Convergence Divergence (MACD) indicator is in negative territory, with the line deeply below zero, while the Relative Strength Index (RSI) sits near 41, hinting that downside momentum remains in play.
Some follow-through selling below the $4,000 psychological mark and the $3,980-$3,975 support will reaffirm the negative outlook, setting the stage for deeper losses. Meanwhile, intraday floors are likely to be determined by prior price reactions rather than well-established indicator-based levels. On the topside, initial resistance is defined by the 200-period EMA at $4,158.08, and only a sustained recovery above this medium-term barrier would start to ease the prevailing downside pressure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Swiss Franc.
USDEURGBPJPYCADAUDNZDCHFUSD0.40%1.04%0.92%0.44%-0.13%0.96%1.05%EUR-0.40%0.64%0.45%0.03%-0.53%0.56%0.64%GBP-1.04%-0.64%-0.20%-0.61%-1.14%-0.08%0.05%JPY-0.92%-0.45%0.20%-0.39%-0.99%0.00%0.24%CAD-0.44%-0.03%0.61%0.39%-0.53%0.39%0.66%AUD0.13%0.53%1.14%0.99%0.53%1.09%1.22%NZD-0.96%-0.56%0.08%-0.00%-0.39%-1.09%0.13%CHF-1.05%-0.64%-0.05%-0.24%-0.66%-1.22%-0.13% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Americký farmaceutický gigant Eli Lilly oddálil termín podání žádosti o schválení retatrutidu, nové generace léku na obezitu. Zatímco dříve firma počítala s možností předložit registraci už letos, tak nyní očekává podání dokumentace v prvním čtvrtletí příštího roku. Důvodem je potřeba dokončit shromažďování a ověřování výrobních a kvalitativních dat, která požadují regulační úřady.
Odklad přichází navzdory tomu, že retatrutid dosáhl pozitivních výsledků ve dvou dalších klinických studiích třetí fáze. Podle společnosti léčba vedla k výraznému úbytku hmotnosti i zlepšení kontroly hladiny krevního cukru u pacientů s obezitou a závažnými přidruženými onemocněními, včetně diabetu 2. typu a kardiovaskulárních chorob.
V jedné ze studií dosáhli pacienti, kteří trpí obezitou a diabetem 2. typu, po 80 týdnech léčby průměrného snížení tělesné hmotnosti až o 20,8 procenta, což odpovídá přibližně 23 kilogramům. Právě tato skupina pacientů přitom obvykle mívá s hubnutím největší problémy, upozorňuje server CNBC.
Druhá studie sledovala osoby s těžkou obezitou a potvrzeným kardiovaskulárním onemocněním, ať už s diabetem či bez něj. V této skupině vedla léčba k průměrnému úbytku hmotnosti až o 22,6 procenta neboli o více než 25 kilogramů během 80 týdnů. Eli Lilly zároveň uvedla, že přípravek příznivě ovlivnil vybrané rizikové faktory související s kardiovaskulárními onemocněními.
Bezpečnostní profil přípravku podávaného injekčně jednou týdně podle společnosti odpovídá předchozím studiím. Nejčastěji hlášenými nežádoucími účinky byly průjem, nevolnost a zácpa. Jde o vedlejší účinky běžně spojované s celou skupinou léků založených na působení hormonů GLP-1.
Trojitý agonista
Retatrutid funguje jako trojitý agonista receptorů GLP-1, GIP a glukagonu, což je rozdíl oproti současné generaci léků založených na látce tirzepatid (GLP-1 a GIP), kterou obsahují léky Mounjaro a Zepbound. Právě kombinace hned tří mechanismů by podle dosavadních dat mohla přinášet výraznější účinek na regulaci chuti k jídlu i pocit nasycení než momentálně dostupné terapie.
Pro Eli Lilly představuje retatrutid klíčový přípravek ve snaze udržet si většinu tržního podílu před dánským konkurentem Novo Nordiskem na rostoucím trhu s léky na hubnutí a diabetes.
Analytici společnosti TD Cowen letos odhadli, že roční tržby retatrutidu by mohly do roku 2030 dosáhnout přibližně 3,8 miliardy dolarů.
3 Dividend Champions with room for dividend growthWest Pharmaceutical Services NYSE: WST raised its full-year 2026 outlook after reporting second-quarter results that topped management’s expectations, supported by strong demand for high-value product components, biologics-related offerings and GLP-1 elastomers.
Chief Executive Officer and Board Chair Eric Green said revenue reached $872 million, up 13% organically, while adjusted earnings per share rose 29% from the prior year to $2.37. Green said the performance reflected “execution of our strategy and continued operational excellence initiatives,” as well as recovery efforts following a cyber incident during the quarter.
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What Factors Will Drive S&P 500 Performance This Year?“Given the robust outcome in the second quarter and the ongoing momentum in the business, we are raising our guidance for full year 2026,” Green said.
High-value components drive quarterly growth West’s Proprietary Products segment delivered 16% organic growth, led by the biologics market group, which rose 29% organically. The company’s high-value product, or HVP, components business generated $424 million in revenue and grew 18.4% organically, according to Chief Financial Officer Bob McMahon.
Healthcare Stocks With at Least 30 Years of Dividend IncreasesGreen said HVP components now account for 49% of total company revenue, up from 46% in the prior-year quarter. He pointed to three main growth drivers: biologics and biosimilars, HVP upgrades including Annex 1-related demand, and continued strength in GLP-1 elastomers.
Non-GLP-1 HVP components grew in the high teens on an organic basis and were the largest contributors to the company’s outperformance in the quarter, Green said. He added that West continues to see win rates above 90% for new biologic molecules, which often require higher-quality containment products such as FluroTec and NovaPure.
Management also emphasized the biosimilars opportunity. Green said biosimilar launches can expand therapy use and may allow West to maintain or increase component demand after commercialization.
Annex 1 upgrades and GLP-1 demand remain key themes Green said West is seeing more customers upgrade to HVP components, often adding finishing processes such as Envision inspection. He described the Annex 1-related opportunity as being in the early stages of a multi-year transition and said it remains on track to contribute 200 basis points of revenue growth in 2026.
During the question-and-answer portion of the call, Green said West had “just shy of 800 total projects in hand” related to Annex 1 and other HVP upgrades, up 50% from the same period last year. McMahon added that the company is seeing possible “spillover” opportunities beyond Europe, including in the United States.
GLP-1 HVP component revenue increased in the high teens, slightly ahead of company expectations. Green said West believes global adoption of GLP-1 therapies remains in the early stages and that injectables continue to show efficacy advantages compared with oral alternatives. He also said oral GLP-1 products appear to be expanding the overall market rather than cannibalizing injectables.
Green said West is participating in generic GLP-1 rollouts in several countries and is encouraged by next-generation GLP-1 molecules in development for obesity, diabetes and other metabolic conditions.
Margins expand as mix shifts toward proprietary products McMahon said total company gross margin was 37.7%, up 200 basis points from the prior year. Adjusted operating margin rose 230 basis points to 22.6%. The improvement was driven by stronger sales, positive mix shift toward HVP components, pricing and leverage across selling, general and administrative expenses and research and development, he said.
Price contributed four percentage points of revenue growth in the quarter. McMahon said pricing accelerated from the first quarter and was above the company’s 2% to 3% corridor, reflecting West’s effort to capture more of the value it provides to customers.
The West Vantage segment generated $150 million in revenue and grew 0.8% organically. McMahon said the segment was affected by the cyber incident, which pushed some revenue into the second half of the year. He estimated the impact at a mid-single-digit headwind to growth in the quarter and said the company expects to recover that revenue during the remainder of the year.
West reported $124 million in operating cash flow for the quarter. Capital expenditures were $43 million, down from $75 million in the prior year. The company repurchased just over 0.5 million shares for $157 million in the quarter and paid $16 million in dividends.
Company raises full-year outlook West now expects full-year 2026 revenue of $3.345 billion to $3.38 billion, representing 10% to 11% organic growth, up from its previous 7% to 9% organic growth forecast. Reported growth is expected to be 8.8% to 10%.
The company raised its adjusted EPS outlook to $8.85 to $9.05, implying year-over-year growth of 21% to 24%. McMahon said the updated outlook incorporates a stronger dollar, with currency now expected to provide a 1 percentage point tailwind, down from a prior assumption of about 2 percentage points.
West also completed the sale and transfer of manufacturing and supply rights for the SmartDose 3.5mL on-body delivery system and associated facilities on July 1. McMahon said the company excluded SmartDose 3.5 revenue from organic growth calculations for the year. He also said the divestiture is expected to contribute 50 basis points of margin improvement for the full year, or 100 basis points in the second half.
For the third quarter, West expects revenue of $820 million to $835 million, reflecting reported growth of 1.9% to 3.8% and organic growth of 7% to 8.9%. Adjusted diluted EPS is expected to be $2.14 to $2.24, up 9% to 14% year over year.
Leadership transition ahead Green, who is preparing to hand leadership to Michel Lagarde on Aug. 31, used his closing remarks to thank employees, customers, shareholders and the board. He said the quarter reaffirmed that West’s growth strategy is working and that the company remains focused on biologics, GLP-1s, Annex 1 and other HVP conversions.
“We have a durable business with a strong competitive moat, which delivers unique value to our customers,” Green said.
About West Pharmaceutical Services (NYSE:WST)West Pharmaceutical Services, Inc is a global developer and manufacturer of components, systems and services that enable the containment and delivery of injectable drugs. The company focuses on high-quality packaging and delivery solutions for the pharmaceutical and biotech industries, producing primary drug packaging components and specialized drug delivery devices used for vaccines, biologics and other injectable therapies. West is known for its elastomeric closures, seals and polymer components that maintain sterility and compatibility with sensitive drug formulations.
In addition to component manufacturing, West provides engineered delivery systems and support services across the product lifecycle.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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New York, New York--(Newsfile Corp. - July 23, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Zoetis Inc. (NYSE: ZTS) between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Zoetis securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and touted growing market share, strong veterinarian adoption, and accelerating sales growth across Zoetis' flagship Companion Animal products and/or failed to disclose 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Chimera Investment Corporation (NYSE: CIM) announced today that it will release financial results for the second quarter ended June 30, 2026, before the market
The 3 Biggest M&A Stock Opportunities for 2025United Rentals NYSE: URI reported record second-quarter revenue and earnings while raising its 2026 outlook, as management said large projects and specialty rental demand continued to run ahead of expectations.
President and CEO Matt Flannery said the company’s growth “accelerated in the quarter,” supported by customers that “remain optimistic, particularly around large projects,” along with continued cost discipline. He said the company’s equipment breadth, technology, service levels and safety focus continue to differentiate United Rentals in the market.
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3 large caps near 52-week lows with large dividendsTotal revenue rose 12% year over year to $4.4 billion, while rental revenue increased nearly 13% to $3.8 billion. Both were quarterly records, according to Flannery. Adjusted EBITDA was just over $2 billion, representing a margin of 46.6%, and adjusted earnings per share were $12.76, up 22% from a year earlier and also a quarterly record.
Large Projects and Specialty Rentals Drive Growth Flannery said United Rentals saw growth in both its General Rentals and specialty businesses. Specialty rental revenue increased 25% year over year, with growth across all lines of business and 11 cold starts during the quarter.
3 Compelling Cyclical Stocks to Buy NowBy vertical, Flannery said construction posted strong growth, led by nonresidential and infrastructure activity. On the industrial side, power continued to deliver double-digit growth, while metals and minerals also grew at a healthy pace. He said project activity started in a range of end markets, including hospitals, airports and LNG terminals, while data centers remained a source of growth.
During the question-and-answer portion of the call, Flannery said the major project pipeline was “stronger and deeper,” citing activity tied to power, semiconductor projects, infrastructure, airports, stadiums and pharmaceuticals. He also said semiconductor-related work and power projects accelerated in the second quarter.
Local markets, by contrast, were described as stable with modest growth. Flannery said local customer activity grew in the low single digits and suggested that lower interest rates, residential construction growth and renewed small-business investment could help spur broader local market improvement.
Fleet Productivity, CapEx and Used Equipment Sales Fleet productivity contributed 3.4% to original equipment rental, or OER, growth of 9% in the quarter, Flannery said. CFO Ted Grace said OER increased by $246 million, driven by 7.1% growth in average fleet size and fleet productivity of 3.4%, partially offset by assumed fleet inflation of 1.5%.
Ancillary and re-rent revenue grew nearly 28%, adding a combined $188 million, Grace said. He noted that the company has been able to pass through higher fuel and delivery costs, though those revenues brought limited incremental margin dollars.
United Rentals sold $624 million of original equipment cost, or OEC, in the used market during the quarter, generating $330 million in proceeds, an adjusted margin of 47.3% and a 52.9% recovery rate. Flannery said the company remains on track to sell approximately $2.8 billion of fleet this year, supported by strong used equipment demand.
The company spent nearly $2.1 billion on gross rental capital expenditures in the second quarter and $2.9 billion year to date, exceeding its initial expectations. Flannery said the demand environment is outpacing the company’s original expectations, and the company is operating at “historically high time utilizations.”
In response to analyst questions, Flannery said United Rentals would not add fleet simply to chase late-2026 revenue. He said the company has confidence in the large project pipeline carrying into next year, though management did not provide 2027 guidance.
Margins and Cost Controls Remain in Focus Grace said adjusted EBITDA, excluding a $49 million net benefit from the sale of the company’s scaffolding business, increased $197 million year over year to a second-quarter record of just over $2 billion. The increase was primarily driven by a $231 million increase in rental gross profit and a $3 million increase in used gross profit. Selling, general and administrative expense rose $39 million but was flat as a percentage of revenue.
On an as-reported basis, second-quarter adjusted EBITDA margin increased 70 basis points year over year. Excluding the scaffolding gain and the outsized growth in ancillary and re-rent revenue, Grace said margins increased 40 basis points year over year, which he said provided a better view of core cost performance.
Management fielded several analyst questions about delivery, repositioning, labor and repair costs. Grace said the company’s core cost categories of labor, delivery and repair and maintenance showed positive absorption year to date and in the second quarter. Flannery said the company has changed processes and increased coordination to better manage delivery and repositioning costs, despite higher fuel costs.
Grace said higher internal fuel costs represented an incremental 20 to 30 basis points of year-over-year headwind in the quarter. He also said the company realized approximately $12 million of second-quarter benefit from restructuring activities and remains on track for $45 million to $50 million of realized savings in 2026.
Guidance Raised for 2026 United Rentals raised its full-year 2026 guidance, with management saying demand continued to exceed expectations as the company progressed through its busy season.
Total revenue: Now expected between $17.5 billion and $17.8 billion, up $500 million from prior guidance. Adjusted EBITDA: Raised by $300 million to a range of $7.975 billion to $8.125 billion. Gross rental CapEx: Increased by $450 million to a range of $4.85 billion to $5.25 billion. Net CapEx: Expected between $3.4 billion and $3.8 billion. Free cash flow: Reaffirmed at $2.15 billion to $2.45 billion. Used equipment sales: Still expected around $1.45 billion. Grace said the updated outlook implies full-year growth excluding used sales of more than 10% at the midpoint, compared with original guidance closer to 6%. He said the company still expects to maintain flat margins year over year while bringing revenue growth to the bottom line.
Balance Sheet and Capital Returns United Rentals generated nearly $1.2 billion of free cash flow year to date after funding growth, according to Flannery. Grace said return on invested capital was 11.8%, remaining above the company’s weighted average cost of capital.
Net leverage was 1.8 times at the end of June, within the company’s target range of 1.5 times to 2.5 times, and total liquidity was nearly $3 billion. Grace said S&P recently raised the company’s credit outlook to positive from stable, with the potential for an upgrade from high yield to investment grade within the next 12 months.
Grace said a potential investment-grade rating would not change United Rentals’ capital allocation strategy, adding that management believes the company can pursue an upgrade without constraining its ability to execute on mergers and acquisitions.
The company returned nearly $500 million to shareholders during the quarter through share repurchases and dividends. Year to date, it has returned $998 million, including $750 million through repurchases and $248 million through dividends. Grace said United Rentals still intends to repurchase $1.5 billion of shares in 2026, and combined with the dividend, expects to return roughly $2 billion to shareholders this year.
Flannery said the M&A pipeline remains “robust,” with opportunities across deal sizes. He said specialty rental offerings and new product areas remain priorities, while the company also continues to evaluate deals that could fill geographic or product gaps.
About United Rentals (NYSE:URI)United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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On July 23, 2026, Hub Group Inc (HUBG) shares fell 3.1% to a current price of $49.22. This decline comes amid a 52-week range of $32.46 to $53.26, reflecting re
The logo of Malaysian energy group National Petroleum Limited, commonly known as PETRONAS, is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia,... Purchase Licensing Rights, opens new tab Read more
CompaniesJAKARTA, July 24 (Reuters) - Searah, the joint venture energy company formed by Italy's Eni and Malaysia's Petronas, has started developing a floating gas facility to process gas from its $11.8 billion North Hub project in Indonesia, the Indonesian government said.
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The company held a first steel cutting ceremony on Thursday to kickstart the construction of the Floating Production, Storage, and Offloading (FPSO) vessel, which will be a processing hub for 16 wells from the Geng North and Gehem gas fields, the Energy and Mineral Resources Ministry said.
The two gas fields make up Searah's North Hub project in Indonesia's Kutai Basin, off Borneo island. The project is targeted to start production in 2028, the ministry said in a statement late on Thursday.
Production is expected to reach 1 billion cubic feet of gas per day and 80,000 barrels of condensate per day by the fourth quarter of 2028.
Of the total $11.8 billion investment in the project, around $2.9 billion was allocated to develop the FPSO, Djoko Siswanto, head of the upstream oil and gas regulator SKK Migas, said in the same statement.
"Today's achievement demonstrates our continued confidence in Indonesia's energy sector, as well as our long-term commitment to continue investing, growing, and creating value in this country," Mirko Araldi, an executive of Eni North Ganal Ltd, was quoted as saying.
Reporting by Fransiska Nangoy; Editing by David Stanway
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On July 23, 2026, First Advantage Corp (FA) shares fell 3.9% to a current price of $19.18. The stock has shown significant volatility, with a 52-week range betw
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options
If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.
On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.
Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.
On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:
What is the PicS N.V. securities fraud lawsuit about?
The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.
Who may be eligible to participate in the PicS N.V. class action lawsuit?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?
A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased PicS N.V. stock in the IPO?
Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306126
Source: Faruqi & Faruqi LLP
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Robinhood Markets Inc. (NASDAQ:HOOD) stock declined on Thursday as broader technology-sector selling and downward pressure on cryptocurrency-linked equities affected the brokerage operator.
During Thursday trading, the Nasdaq dropped 1.63%, and the S&P 500 fell 1.08%.
• Robinhood Markets stock is showing weakness. Why is HOOD stock trading lower?
Portfolio Adjustments By ARK InvestDebt Financing PlansSecond-Quarter Earnings ScheduleRobinhood Markets will report second-quarter financial results on July 29. Analysts project earnings per share of 41 cents and revenue of $1.21 billion.
Technical AnalysisRobinhood is trading 4.9% below its 20-day SMA ($107.18), which frames the current move as a pullback from short-term overextension rather than a clean trend break. At the same time, it remains 7.3% above the 50-day SMA ($95) and 1% above the 200-day SMA ($100.92), so the intermediate uptrend is still intact but being tested.
RSI at 48.32 is neutral, which typically signals momentum has cooled back to wait-and-see territory after prior strength.
From a longer-term trend perspective, the death cross that formed in February (50-day SMA below the 200-day SMA) is still a caution flag, even though price has climbed back above key averages. Traders will likely watch whether this dip holds above the 200-day area to keep the recovery structure from turning into a failed breakout.
Key Resistance: $120.50 — Nearby pivot zone where rebounds can stall after the recent July swing high. Key Support: $93 — Prior demand area that sits near the 50-day SMA neighborhood at $95. HOOD Stock Price Activity: Robinhood Markets shares were down 1.87% at $102.62 at the time of publication on Thursday, according to Benzinga Pro data.
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US Democratic Senator slams ethics provisions of Republican CLARITY Act, calling the draft "not in good faith"
According to Politico, U.S. Democratic Senator Ruben Gallego has criticized the ethics provisions of the Digital Asset Market Clarity Act (CLARITY Act) recently tabled by Senate Republicans, dismissing the draft as "not a serious effort." This Wednesday, Senate Republicans unveiled the CLARITY Act draft, which includes digital asset ethics restrictions that would ban all U.S. federal officials—including former President Donald Trump—from issuing or supporting any digital assets. Democrats argue the ethics provisions are insufficiently robust. Gallego said he will collaborate with Republican Senator Thom Tillis and others to put forward a new counter-proposal. "We are still in this fight and will submit new provisions," Gallego stated. Republicans, for their part, counter that the relevant ethics rules are already strict enough. Senator Bernie Moreno claimed the draft contains "the strongest ethics provisions in U.S. history." The CLARITY Act is designed to clarify the regulatory framework for the U.S. digital asset market, but its provisions addressing conflicts of interest between government officials and crypto assets have emerged as the main point of contention in bipartisan negotiations.
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The first purchase was made at a price 55% higher than the current market level; the largest loss holder of SK Hynix has held the losing position for 28 days.
According to Hyperinsight monitoring, the whale address starting with 0x511 is still holding onto its high SK Hynix (SKHX) long positions. The address currently holds 4,034 SKHX longs with 3x full leverage, at an average entry price of $1,622.6, with a position value of roughly $4.942 million and a liquidation price of $923.67. Its unrealized loss stands at $1.6034 million (-73.5%), making it the address with the largest unrealized loss on SKHX. This long position was opened on the early morning of June 26 (Beijing time), and has been held for 28 days. At the time, SKHX was trading around $1,900. The whale’s first entry was 325.5 contracts at an average price of $1,898.5, which is now 55.1% higher than the current price. As the price trended downward, it added to its position four more times at approximately $1,659, $1,678, $1,436, and $1,361, respectively. After its final position increase on July 15, the holding has not been adjusted since. Holding the position has been a constant financial drain: since opening the long, the whale has paid a net funding fee of about $198,200. The current hourly funding rate is around +0.00955%, with longs still paying, leading to an estimated hourly outflow of roughly $472 based on the existing position. Looking at its track record, this is a trader known for patience: all of its previous large trades were long-held US stock-linked longs—Micron for ~45 days, Marvell for ~29 days, and Cerebras for ~39 days, generating a total net profit of around $494,500. That same patience was once its profit source, but it has now dug the whale deeper into a losing position on SK Hynix... Data shows that SK Hynix (SKHX) on Hyperliquid hit a daily high of $1,302.8 before quickly falling to $1,214.3, marking a 6.8% intraday pullback.
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BitMEX accelerates the delisting of 65 trading pairs in July, as liquidity pressure intensifies ahead of the platform's closure.
Crypto trading platform BitMEX has accelerated the delisting of derivative contracts and trading pairs in July, removing a total of 65 trading products—far exceeding the 19 delistings recorded in the first six months of this year. Data from BitMEX’s website shows that at the start of July, the platform delisted 21 derivative contracts, and two weeks later, it removed 9 spot trading pairs due to insufficient trading interest. This Thursday, BitMEX announced another delisting of 35 derivative contracts, pushing July’s total delistings to 65. BitMEX stated that the adjustment is mainly attributed to "insufficient trading interest" in the relevant contracts and the exchange’s shutdown plan. Earlier, BitMEX announced it would cease all exchange services at 4:00 UTC on September 23, 2026. The platform noted the shutdown decision followed a "strategic review" of its business and the broader crypto industry, though it did not disclose specific reasons. Industry insiders believe BitMEX’s exit reflects structural pressures facing mid-sized centralized exchanges, including factors such as further concentration of market liquidity in top-tier platforms and rising regulatory compliance costs.
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Binance adds ACX, LSK, STX to its monitored token list, tagging them as highly volatile and high-risk assets.
Binance announced in an official statement that starting July 24, 2026, it will add Across Protocol (ACX), Lisk (LSK), and Stacks (STX) to its "Monitoring Tag" list. Binance noted that tokens with the monitoring tag have higher volatility and risk compared to other listed assets, and the platform will closely monitor the relevant projects and conduct regular reviews. Such tokens face the risk of failing to meet Binance's listing standards and potentially being delisted in the future. Binance added that factors including the project team's level of commitment, quality of development activities, trading volume and liquidity, network security, smart contract stability, information disclosure status, changes to token economic models, and presence of any improper conduct will all be included in subsequent assessments. Binance stated that other services related to ACX, LSK, and STX will not be affected for the time being, and the monitoring tag will be updated after the announcement is released.
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Sources familiar with the matter: The Bank of Japan is likely to maintain its policy guidance and commit to continuing interest rate hikes.
According to sources, the Bank of Japan (BOJ) is shifting its focus to whether companies will pass rising cost pressures on to households, and will continue to warn at next week’s policy meeting that inflation could stay above the 2% target for a prolonged period. Sources said the BOJ is expected to signal that the risk of short-term inflationary shocks triggered by rising oil prices has eased since April, though overall price pressures remain a concern. Additionally, the BOJ is likely to maintain its current policy guidance of continuing its interest rate hike path. Markets expect the BOJ to determine the pace of future monetary policy adjustments based on wage growth, service prices, and corporate pricing behavior.
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South Korea's KOSPI index saw its decline widen to 5.61%, with Samsung falling more than 6%.
According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5.61%, Samsung fell more than 6%, and SK Hynix dropped 5.52%.
On Thursday, July 23, Cathie Wood’s ARK Invest purchased almost $60 million worth of Tesla, Circle Internet Group and Securitize Corp. stock. The purchases coincided with a dramatic sell-off in U.S. stocks. Inflation-driven higher oil prices, higher US Treasury yields and a strong dollar led to a bearish investor sentiment.
Cathie Wood Bets Big On Tesla, Circle, Securitize Stocks Elon Musk’s Tesla was ARK’s biggest purchase of the day. The EV company fell 14.52% to close at $319.69. ARK purchased roughly $51.20 million in Tesla stock via its four exchange-traded funds (ETFs), per the stock’s closing price.
Tesla stock price chart. Source: Yahoo! Finance Cathie Wood’s ARKK ETF added approximately $31.58 million worth of 98,782 TSLA shares. ARKQ’s total number of added Tesla shares added was 30,396, worth $9.72 million. Moreover, ARKW purchased 21,048 Tesla shares at $6.73 million, while ARKX bought 9,925 shares at $3.17 million. Recently, ARK also invested $14 million in SpaceX stock as the share price continued declining despite Tesla merger talks.
Additionally, ARK has raised its stake in Circle Internet Group. The stablecoin provider closed at $62.18, losing over 6%. At this closing, ARK’s purchase of CRCL stock is worth around $8.09 million.
Here is every move that Cathie Wood and Ark Invest made in the stock market today 7/23 pic.twitter.com/f2qHkLBUoN
— Ark Invest Tracker (@ArkkDaily) July 24, 2026
According to ARK Invest’s disclosure, ARKK purchased approximately $5.74 million in Circle stock for a total of 92,352 shares. Nearly $1.63 million worth of shares were added to the ARKW stock. The company, ARKF, bought 11,512 shares that cost about $715,216.
The Cathie Wood-led firm also bought 48,377 shares of Securitize Corp through ARKF. The stock closed at $7.30, down 4.82%. An estimated $353,152 was paid for the purchase at the closing price.
The U.S. Stock Market Plummets Hard Cathie Wood’s shopping spree occurred while the U.S. stock market registered a crash. Overnight, prices for Brent crude oil rose above $101. Treasury yields and the U.S. dollar also gained. Technology stocks were among the worst hit by the sell-off. Tesla, Alphabet, Nvidia, Meta, Amazon and Oracle stocks were among the worst affected.
The Dow Jones Industrial Average fell 506.93 points, or 0.97%, to 51,711.65. The Nasdaq Composite dropped 553.21 points, or 2.15%, to 25,137.69. The S&P 500 lost 90.66 points, or 1.21%, to close at 7,408.30.
Charles Schwab’s Head Trading and Derivatives Strategist Joe Mazzola commented on the recent tech earnings miss. He said, “Earnings were mostly positive for Alphabet and somewhat disappointing for Tesla. Alphabet raised spending forecasts and Tesla confirmed that 2026 remains a ‘massive’ spending year, giving chip firms a lift.”
He further added, “It wasn’t enough to overcome geopolitical headwinds, and worries intensified in the bond market, where the benchmark 10-year note yield posted a new 2026 high of 4.71%. In the background, chances of a Federal Reserve rate hike next week keep climbing as oil raises inflation concerns, reaching 38% according to the CME FedWatch Tool.”
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The New York Times reports that a strike on the Saudi-owned tanker Encelia in the Red Sea has pushed oil prices above $100 a barrel. The incident, which occurred on July 23, involved a fire on the vessel and comes amid claims of responsibility from the Houthis, who alleged that two Saudi tankers, including Encelia, violated a maritime blockade. The price of Brent crude, a global benchmark, surged to its highest level in over a month, reflecting concerns over supply risks in key shipping lanes. Saudi state media confirmed the attack but stated that all crew members were safe.
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Key Takeaways Market activity suggests a heightened probability of oil reaching a new all-time high, with prices sharply increasing following the incident. The market’s response indicates that participants view geopolitical tensions in the Middle East as supportive of a YES outcome for oil price hikes. Recent movements in oil markets appear consistent with increased supply-risk concerns, driving up short-term price expectations. What to Watch Watch for further developments involving geopolitical tensions in the Middle East, which could influence oil market dynamics significantly. Statements or actions by key figures such as OPEC’s Mohammad Sanusi Barkindo or Saudi Energy Minister Abdulaziz bin Salman Al Saud may provide further indications of potential market shifts. Additionally, any new reports of strikes or disruptions in key shipping lanes could further affect market expectations for oil prices reaching new highs by the end of the year.
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On July 23, 2026, Marriott Vacations Worldwide Corp (VAC) shares fell 3.3% to a current price of $93.82. The stock is trading within a 52-week range of $44.58 t
Gold is nursing heavy losses incurred on Thursday, keeping its range near $4,050 early Friday. Despite the recent retracement, Gold remains on track to register its first weekly gain in three.
Gold could see further correctionGold witnessed a steep 2% corrective downside on Thursday, after having reached two-week highs of $4,166 earlier in the week.
The sharp Gold price pullback could be attributed to heightened inflation concerns and the resultant increase in hawkish expectations around the US Federal Reserve’s (Fed) interest rate hike outlook, following the widening of the US-Iran war in the Middle East that sent Oil prices back to six-week highs or toward $100 per barrel.
Fears over two of the world’s busiest shipping corridors being under threat in the same month are driving the black gold through the roof.
According to TD Securities, the broader macro backdrop is still not supportive of a sustained build-up in bullion positions, with the bank arguing that “there are no fundamental reasons to think that the U.S. rate and FX environment will be conducive to increasing long gold exposure any time soon.” The firm cautions that geopolitical tensions are also feeding into this dynamic, noting that “it is likely that the Middle East war-driven oil price increases will continue to increase the probability of a Fed rate hike,” a combination that, in their view, leaves the near-term risk-reward for additional long gold exposure looking increasingly constrained.
Meanwhile, the US military carried out a 13th consecutive night of strikes on Iran, targeting drone facilities, coastal surveillance sites, etc.
It came after US President Donald Trump said he was close to deciding whether to launch “a massive attack” against Iran, on a scale larger than strikes already witnessed in the past five months.
Trump also warned earlier of “major military punishment” against Iran and the Houthis, after the Iran-backed Yemeni militia attacked two Saudi Arabian oil tankers in the Red Sea.
The focus now turns to the global preliminary business PMI data due later in the day, which could underscore the impact of the war on the manufacturing and services sectors worldwide.
Any disappointment in the PMI readings could revive the US Dollar’s (USD) appeal as a haven, weighing further on Gold.
Gold traders could also resort to profit-taking and position readjustment after the recent recovery and ahead of the July Fed interest rate decision due next Wednesday.
However, if trade tensions intensify, the Greenback could take further beating, limiting the corrective decline in Gold.
The US announced on Thursday that it is imposing new tariffs on around 60 trading partners, ranging from 10% to 12.5%, as a temporary 10% tax on foreign goods introduced earlier this year expires.
All in all, Gold will remain at the mercy of the USD dynamics and Oil price action, as markets remain wary over Trump’s threat and escalating Middle East tensions heading into the weekend.
At the same time, Gold’s daily technical setup reinforced the bearish bias, following the confirmation of the Bear Cross while momentum turned downbeat again.
Gold price technical analysis: Daily chart
In the daily chart, XAU/USD trades around $4,030 and remains under clear pressure, capped below the 21-day simple moving average (SMA) at $4,068.50 and the 50-day SMA at $4,231.04. The pair sits well beneath the longer-term 100-day SMA at $4,479.88 and 200-day SMA at $4,494.74, which reinforces a bearish near-term bias. The Relative Strength Index (14) around 44 stays in neutral-to-soft territory, hinting that downside momentum is present but not yet overstretched.
On the topside, initial resistance is seen at the 21-day SMA near $4,068.50, followed by a more significant barrier at the 50-day SMA around $4,231.04. Above there, the 100-day SMA at $4,479.88 and the 200-day SMA at $4,494.74 define a dense resistance zone that would need to be reclaimed to ease the broader bearish tone. With no clear moving-average support levels below the current price in this dataset, any fresh decline would likely seek direction from emerging horizontal or Fibonacci floors rather than established trend supports.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Indicator S&P Global Composite PMI The S&P Global Composite Purchasing Managers Index (PMI), released on a monthly basis, is a leading indicator gauging US private-business activity in the manufacturing and services sector. The data is derived from surveys to senior executives. Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation. The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the private economy is generally expanding, a bullish sign for the US Dollar (USD). Meanwhile, a reading below 50 signals that activity is generally declining, which is seen as bearish for USD.
USD/JPY started a fresh increase above 163.20 and 163.50. A key bullish trend line is forming with support at 163.00 on the 4-hour chart. EUR/USD is struggling below the 1.1450 resistance zone. WTI Crude Oil prices rallied further above $92.00 and $92.50. USD/JPY Technical Analysis The US Dollar started a fresh increase from 162.65 against the Japanese Yen. USD/JPY cleared the key hurdle at 163.20 to enter a bullish zone.
Looking at the 4-hour chart, the pair settled above 163.20, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair traded as high as 163.98 and started a consolidation phase.
On the upside, the pair could face resistance near 164.00. The next major resistance might be 164.40. A close above 164.40 could start another steady increase.
In the stated case, the bulls could aim for a move to 165.00. Any more gains might open the doors for a test of 165.20. If there is a downside correction, the pair might find bids near 163.50. The first major support could be near 163.20.
The main support might be 163.00. There is also a key bullish trend line forming with support at 163.00. A downside break and close below 163.00 might send the pair toward the 100 simple moving average (red, 4-hour) at 162.30. Any more losses could open the doors for a test of 162.00.
Looking at WTI Crude Oil, the bulls remained in action, and they might soon aim for a move above the $95.00 level.
Upcoming Key Economic Events:
US S&P Global Manufacturing PMI for June 2026 (Preliminary) – Forecast 54.5, versus 53.9 previous. US S&P Global Services PMI for June 2026 (Preliminary) – Forecast 51.0, versus 51.2 previous.
Titan FXhttp://titanfx.com
Titan FX is a technology driven online ECN forex and commodities broker that provides traders with next generation trading conditions, institutional grade spreads, fast trade execution, deep top tier liquidity and the security of financial registration and oversight.
On July 23, 2026, Advance Auto Parts Inc (AAP) shares fell 3.7%, closing at $53.42. This price is situated within a 52-week range of $37.89 to $70.00. The recen
The closure of crypto derivatives exchange BitMEX is prompting fresh questions about whether the industry is entering a new phase of consolidation, as analysts point to market-share concentration and rising regulatory costs squeezing smaller platforms.
While BitMEX helped pioneer perpetual swaps that became a cornerstone of digital asset derivatives trading, its daily Bitcoin futures volume began declining around May 2021 and never recovered to its 2020 daily peak of between $1 billion and $5 billion, according to data from CryptoQuant.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise reflects structural pressures facing mid-sized centralized exchanges, where liquidity has increasingly concentrated among the industry’s largest players and regulatory compliance costs continue to rise. He said:
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.Source: BitMEX
The fall of BitMEXBitMEX, the crypto derivatives exchange founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed, announced on Thursday that it will shut down. Trading is scheduled to end on Sept. 23 following a strategic review by parent company HDR Global Trading.
The shutdown announcement also triggered a sharp sell-off in BitMEX’s utility token, BMEX, which plunged more than 90% after the exchange revealed plans to wind down operations.
BMEX token drops over 90%. Source: CoinMarketCap.
The announcement came after years of declining market share. CoinGecko ranked BitMEX ninth among derivatives exchanges in August 2023 with a 0.9% share of trading volume. By 2025, it no longer appeared among the firm’s top 10 perpetual exchanges, even as annual perpetual trading volume across those platforms climbed 47.4% to a record $86.2 trillion.
The rise of regulated competitorsBitMEX rose to prominence by offering offshore perpetual derivatives years before similar products became available through regulated venues. Today, those same products are increasingly offered through licensed exchanges in jurisdictions including the United States and the United Kingdom.
In the US, Coinbase launched perpetual-style futures through a Commodity Futures Trading Commission-regulated exchange in May after receiving no-action relief from the regulator. The CFTC also approved Bitcoin perpetual futures for Kalshi. In June, Kraken followed with CFTC-regulated perpetual futures for eligible US traders through its recently acquired Bitnomial exchange.
The trend has also extended beyond the United States. This month, Coinbase secured a UK investment services license allowing it to expand its derivatives business ahead of the country’s new crypto regulatory regime.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The closure of crypto derivatives exchange BitMEX is prompting fresh questions about whether the industry is entering a new phase of consolidation, as analysts point to market-share concentration and rising regulatory costs squeezing smaller platforms.
While BitMEX helped pioneer perpetual swaps that became a cornerstone of digital asset derivatives trading, its daily Bitcoin futures volume began declining around May 2021 and never recovered to its 2020 daily peak of between $1 billion and $5 billion, according to data from CryptoQuant.
Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise reflects structural pressures facing mid-sized centralized exchanges, where liquidity has increasingly concentrated among the industry’s largest players and regulatory compliance costs continue to rise. He said:
The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.Source: BitMEX
The fall of BitMEXBitMEX, the crypto derivatives exchange founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed, announced on Thursday that it will shut down. Trading is scheduled to end on Sept. 23 following a strategic review by parent company HDR Global Trading.
The shutdown announcement also triggered a sharp sell-off in BitMEX’s utility token, BMEX, which plunged more than 90% after the exchange revealed plans to wind down operations.
BMEX token drops over 90%. Source: CoinMarketCap.
The announcement came after years of declining market share. CoinGecko ranked BitMEX ninth among derivatives exchanges in August 2023 with a 0.9% share of trading volume. By 2025, it no longer appeared among the firm’s top 10 perpetual exchanges, even as annual perpetual trading volume across those platforms climbed 47.4% to a record $86.2 trillion.
The rise of regulated competitorsBitMEX rose to prominence by offering offshore perpetual derivatives years before similar products became available through regulated venues. Today, those same products are increasingly offered through licensed exchanges in jurisdictions including the United States and the United Kingdom.
In the US, Coinbase launched perpetual-style futures through a Commodity Futures Trading Commission-regulated exchange in May after receiving no-action relief from the regulator. The CFTC also approved Bitcoin perpetual futures for Kalshi. In June, Kraken followed with CFTC-regulated perpetual futures for eligible US traders through its recently acquired Bitnomial exchange.
The trend has also extended beyond the United States. This month, Coinbase secured a UK investment services license allowing it to expand its derivatives business ahead of the country’s new crypto regulatory regime.
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
BitMEX Platform Token Plunges Over 99% Following Shutdown Announcement
Market data shows that, likely influenced by BitMEX’s shutdown announcement, its exchange platform token (issued in 2022) plummeted 99.69%, and at one point experienced liquidity issues. Earlier news reported that crypto exchange BitMEX announced it will close on September 23 and has stopped new user registrations.
Vanar Announces Migration to Base, Total Supply of VANRY Token Increases to 10 Billion
Vanar issued an announcement stating that it will no longer operate purely as a Layer 1 blockchain, but instead focus on building an AI Organizations economy and will migrate to the Base chain. In terms of tokens, existing VANRY holders will migrate at a 1:1 ratio, with their holdings remaining unchanged. However, the total supply will increase from 2.4 billion to 10 billion tokens to support AI Organizations ecosystem incentives, developers, partners, and infrastructure development. During the migration phase, 62% of the total supply remains locked. The newly added portion has a cliff period and is subject to a 60-month vesting schedule, meaning it will take five years for the full allocation to be distributed. After the cliff period, the monthly distribution will be approximately 1% of the total portion. Additionally, Vanar will end its validator staking mechanism on Vanarchain and integrate its infrastructure onto the Base network.
Changxin Technology Shares to List on Shanghai Stock Exchange STAR Market on July 27
Changxin Technology Company’s shares will be listed on the Shanghai Stock Exchange’s STAR Market on July 27, 2026.
Citigroup Lowers Coinbase Target Price from $400 to $235
Citigroup has lowered its target price for Coinbase (COIN) from $400 per share to $235.
Binance Alpha Launches Third Round of Swarm Network (TRUTH) Airdrop, 256 Points Can Claim 2,501 Tokens
Binance Alpha has launched the third round of Swarm Network (TRUTH) airdrop distribution. Users holding at least 256 Binance Alpha points can claim 2,501 TRUTH token airdrops on a first-come, first-served basis. If the reward pool is not fully allocated, the point threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim on the Alpha Events page within 24 hours; otherwise, it will be considered a forfeiture of the airdrop.
Abu Dhabi Sovereign Wealth Fund Partners with Coinbase to Launch Tokenized Private Equity Fund
Mubadala Capital, an Abu Dhabi sovereign wealth fund, announced a partnership with Coinbase and infrastructure provider KAIO to launch a blockchain-native version of its long-term private equity fund, issued to qualified investors in the form of compliant tokens. Coinbase will use its Base blockchain as one of the networks operating the tokens and will purchase the tokens itself, holding them on its corporate balance sheet. This marks the first time a U.S.-listed company has used regulated tokenized assets for native on-chain treasury management on its U.S. stock balance sheet.
Michael Saylor Announces Launch of Bitcoin Security Consortium, Commits $15 Million Over Three Years
Michael Saylor tweeted that he officially launched the Bitcoin Security Consortium. The consortium is dedicated to supporting the long-term security and resilience of the Bitcoin network and has pledged a total of $15 million in funding over the next three years. Founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets®, Galaxy, and Strategy, covering various sectors of the Bitcoin ecosystem, including bitcoin holders, custodians, exchanges, infrastructure providers, payment providers, and asset managers. The daily operations of the consortium are coordinated by Mike Schmidt, Executive Director of Brink. Brink is a 501(c)(3) nonprofit organization dedicated to funding and supporting Bitcoin open-source developers. Schmidt himself is participating on a volunteer basis.
Data disclosed by CryptoRank shows that cumulative on-chain perpetual swap trading volume has surpassed $15 trillion. The most significant growth occurred in 2024-2025 (up 200%), driven primarily by the development and growth of Hyperliquid and other perpetual DEXs, as well as the rapid expansion of the on-chain perpetual swap market. Since January 2026, Hyperliquid has maintained its market-leading position, accounting for 30% of total trading volume.
U.S. Initial Jobless Claims Last Week Were 187,000, Below Market Expectations
U.S. initial jobless claims for last week came in at 187,000, compared to an estimated 211,000 and a previous figure of 208,000.
UN Report: Southeast Asian Cryptocurrency Scam Losses Could Exceed $100 Billion, Comparable to Some Countries’ GDP
The United Nations Office on Drugs and Crime (UNODC) stated in a report that the scam industry in Southeast Asia has solidified into a single, interconnected criminal economy, with losses now comparable to the output of some nations. It is estimated that in 2025 alone, losses from scam crimes in East Asia, Southeast Asia, Australia, and New Zealand will reach $88.3 billion to $114.1 billion, a figure that "exceeds the GDP of several countries in the region." The majority of these are cryptocurrency investment scams, most of which are conducted in massive criminal compounds. The agency urged police in Southeast Asia to receive specialized cryptocurrency training to trace and seize illicit funds, warning that disruption-focused strategies are not working.
Bitcoin Treasury Company Empery Digital Invests $20 Million in Cardinal Data Power, Holds Approximately 8% Equity
Empery Digital Inc. (Nasdaq: EMPD), which employs a bitcoin treasury management strategy, announced that it completed a $20 million preferred stock investment in Cardinal Data Power, Inc. ("CDP") on July 20, holding approximately 8% equity. This investment is part of CDP's approximately $70 million Series A funding round, aimed at supporting its first data center campus project in West Texas. The Series A round was led by Hood River Capital Management. CDP is a private developer affiliated with Hunt Properties, specializing in powered data center campus development.
Kaito AI: Has Reached a Data Cooperation Agreement with X Company to Support Various Application Scenarios
Singapore-based crypto data company Kaito AI tweeted that it has reached a data cooperation agreement with X company, aimed at supporting multiple application scenarios.
LayerZero and Keeta Partner to Launch New Tokenized Commercial Bank Coin
LayerZero and Keeta have reached a partnership to enable interoperability of tokenized commercial bank funds across Ethereum, Solana, Base, and Keeta networks. According to the announcement, the issuance centers on Keeta Stablecoin, a new type of tokenized commercial bank money funded by commercial bank deposits and traded through the Bivo platform. Bivo is a US-licensed fintech platform with access to the US payment system and a network of partner banks. Unlike traditional stablecoins that rely on multiple types of reserves, Keeta Stablecoin represents actual commercial bank deposits and allows the issuing institution to retain full contract permissions at every stage through LayerZero's Omnichain Fungible Token standard. LayerZero stated that the Keeta Stablecoin will be issued in USD later this month, following earlier launches of currencies including Euro, Japanese Yen, Renminbi, British Pound, Canadian Dollar, Mexican Peso, UAE Dirham, and Hong Kong Dollar. The statement said Keeta is a Visa Direct payment network partner, is building blockchain infrastructure for regulated financial institutions, and recorded 11.2 million verified transactions per second in a public stress test with the Google Spanner engineering team.
2,210 BTC Transferred from Anonymous Wallet to Kraken, Worth Approximately $143.8 Million
2,210 BTC ($143,824,955) were transferred from an unknown wallet to Kraken, worth approximately $143.8 million.
Sky Protocol Q2 Revenue Exceeds $100 Million, Up 10.5% YoY
The Sky Frontier Foundation released its Sky ecosystem report for Q2 2026. Sky Protocol achieved profitability for the fifth consecutive quarter, with total protocol revenue reaching $107.35 million, up 10.5% year-over-year; net protocol revenue grew even faster to $40.09 million, up 25.1% year-over-year, bringing total revenue over the past 12 months to $159.63 million. Net protocol surplus was $33.29 million, positive for the fifth consecutive quarter. Protocol collateral grew 45.5% year-over-year to $12.32 billion, and sUSDS reached $5.52 billion at the end of the quarter, up 149% year-over-year. Sky Reserve retained $29.87 million in Q2, the largest quarterly contribution since the recapitalization on March 14, bringing its quarter-end reserves to $82.4 million.
Arthur Hayes Responds to BitMEX Shutdown: Incredibly Proud of Everything We Built Together
In response to the BitMEX shutdown, former BitMEX co-founder Arthur Hayes tweeted his thanks to partners, BitMEX employees, and customers, calling it a wonderful journey and expressing pride in what was built. "Thank you to my partners, the BitMEX employees, and most importantly: our customers. It's been a hell of a ride. We created something extraordinary together. I'm incredibly proud of everything we built together, and we get to shut it down responsibly, on our own terms. Satoshi lives."
Ondo Finance's Oasis Pro Markets Receives FINRA Authorization to Offer Tokenized Stocks and Funds to US Investors
Ondo Finance announced that its SEC-registered broker-dealer subsidiary Oasis Pro Markets has received authorization from US regulators to launch regulated tokenized securities markets and services in the US under the oversight of the SEC and FINRA. Oasis Pro Markets' authorization allows it to conduct tokenized securities trading in the US, regulated by the SEC and FINRA. The authorization covers activities including over-the-counter trading, underwriting primary market issuances, private placements, and other activities. Additionally, Oasis Pro Markets will operate a compliant platform for US issuers to conduct primary market issuances of tokenized securities and for US institutional and retail investors to trade these tokenized securities on the secondary market. Under this framework, Oasis Pro Markets can provide US investors with market access to NMS stocks, ETFs, mutual funds and index fund interests, and securities issued through IPOs and traded on the secondary market. Settlement of these assets can be in fiat currency or supported stablecoins, including settlement directly between blockchain-based wallets.
Uniswap v4 Launches Permissioned Pools
Uniswap has launched Permissioned Pools, a new hook standard on Uniswap v4 that enables the trading of permissioned assets through automated market makers, with compliance enforced directly on-chain. Permissioned Pools were developed in collaboration with on-chain regulated asset teams. The first partners include Superstate, Securitize, and Dowgo.
US SEC to Host Roundtable on September 17 to Discuss Transition to 24-Hour Stock Trading
The US Securities and Exchange Commission (SEC) will host a roundtable on September 17 to explore matters related to the transition of the US stock market to 24-hour trading, including preparations to support overnight trading, 24-hour market operations and resilience, and the opportunities and challenges of expansion. The roundtable will be open to the public and livestreamed on the SEC website. The agenda and speaker information for the roundtable will be announced ahead of the event.
Tom Lee: The AI "Wealth Uncanny Valley" Is Approaching, Future AI Agents Could Generate More Income Than Individuals
Tom Lee, Chairman of Ethereum treasury company Bitmine, shared an interview on X platform saying that artificial intelligence is approaching what he calls the "uncanny valley of wealth," and at some point in the future, the income generated by an individual's AI agents may exceed their own labor income. Tom Lee believes that when this moment arrives, people may begin to wonder whether "I am working for AI or AI is working for me." In the future, AI agents may take over bank accounts, replace some jobs, and even build independent financial systems, and he acknowledged that this trend "may make people fearful of the future."
SemiAnalysis: ASML Raises FY2026 Guidance Twice, Signaling Further Strengthening of Semiconductor Equipment Upcycle
Research firm SemiAnalysis posted on X that ASML raised its FY2026 guidance for the second time in three months during its Q2 earnings report, which it believes signals a further strengthening of a new upcycle in the semiconductor equipment industry. SemiAnalysis pointed out that positive signals include order visibility extending to 2028, management proactively planning capacity expansion, mulling price increases for similar products, re-accelerating shipments of DUV immersion lithography systems, and continued growth in the service business. Based on these factors, the firm believes there is still upside to current market revenue expectations for ASML and expects the company to further raise its long-term guidance in the future.
Specter: A PancakeSwap LP Attacked via Malicious EIP-7702 Signature, Losing Approximately $2.96 Million
A long-inactive PancakeSwap liquidity provider (LP) lost approximately $2.96 million after signing a malicious EIP-7702 authorization. It is reported that the attacker removed about $1.48 million in BSC-USD and $1.48 million in BUSD liquidity provided by the victim, and swapped the BUSD for ETH. Currently, the attacker has deposited about $1.46 million into Tornado Cash, with the remaining approximately $1.48 million USDT still held in the attacker's address.
BitMEX Closure Announcement Triggers 95% BMEX Crash, Bubblemaps Says 75% of Token Allocation Never Circulated On-Chain
Blockchain data analytics platform Bubblemaps stated that after BitMEX announced its closure, the price of its platform token BMEX plunged sharply, now down roughly 95% from its previous levels. According to BitMEX’s publicly disclosed tokenomics, about 75% of the total BMEX supply was originally earmarked for employee incentives, ecosystem development, and long-term reserves, but these tokens were never distributed on-chain. Data shows that in 2021, around 92% of the BMEX supply was locked in vesting contracts, with the remaining 8% allocated at the token launch, including: 5% for airdrops; 3% for product and liquidity support. Each allocation category previously corresponded to an independent address designed to receive future unlocked tokens. To date, however, only one claim has been recorded: on November 2, 2022, the product and liquidity address claimed approximately 63.75 million BMEX, while the employee incentive, ecosystem growth, and long-term reserve allocation addresses have not seen any token claims. Bubblemaps noted this does not necessarily indicate a problem, as the project may have subsequently adjusted its tokenomics, contracts, or distribution plans without reflecting those changes on-chain. Yet based on the previously public BMEX tokenomics design, those allocation portions have not actually entered on-chain circulation. BitMEX, co-founded by Arthur Hayes and others, pioneered the perpetual contract trading model, significantly influencing the crypto derivatives market. The closure announcement has visibly dented market confidence in BMEX.
Sources: Anthropic Considering Requiring Employees to Sell Shares via Pre-Set Trading Plans After IPO
People familiar with the matter revealed that AI giant Anthropic is considering an unusual arrangement after its public listing, requiring ordinary employees to sell their shares through pre-set trading plans to avoid violating insider trading regulations. Reports say the arrangement would use 10b5-1 trading plans, where the timing and quantity of stock sales are set in advance and executed according to the plan. Typically, such plans apply mainly to company executives, directors, and certain finance and legal personnel. If Anthropic ultimately implements this and extends it to ordinary employees, it would be a relatively rare practice.
AI Coding Company Cognition Acquires Poke Developer Interaction
AI programming company Cognition AI officially announced the acquisition of The Interaction Company of California. Poke is a personal AI agent that operates within SMS, proactively sending messages, following up on user needs, and delivering services through a “friend-like” interaction model. Over the past three months, Poke users have exchanged more than 100 million messages with it, making it the only AI agent natively supported by Apple to run directly inside Apple Messages. Cognition stated that the Interaction team has built agents characterized by proactiveness, personalization, and high interactivity, aligning with the development direction of its own AI software engineering agent, Devin. The two teams have been following each other for years, and Cognition’s co-founder said both sides have long been betting on “always-on cloud agents.” After the acquisition, Poke users can continue using the product normally. Going forward, Cognition plans to leverage its own models and infrastructure to improve Poke’s speed and reliability.
AMD CEO: Computing Market Expected to Reach $2 Trillion by 2030
At the AMD Advancing AI event, AMD CEO Lisa Su said the AI accelerator market is expected to reach $1.4 trillion by 2030; the data center CPU market is forecast to hit $220 billion by 2030; overall, the computing market is projected to reach $2 trillion in scale by 2030.
U.S. Senate Majority Leader: Clarity Bill Expected to Miss Window Before Congressional Summer Recess
U.S. Senate Majority Leader John Thune indicated that the Clarity bill likely cannot pass before the August 7 recess, but the Senate will at least begin the review process before then. Thune said he “hopes to at least get the Clarity bill moving,” but the Senate will prioritize a Russia sanctions bill pushed by the late Senator Graham next week, and Graham’s funeral mid-week will occupy senators’ time. White House crypto adviser Patrick Witt responded that he was “puzzled” by Thune’s remarks, arguing there is still time for deliberation in the first week of August and he “wouldn’t completely rule it out.” Industry and lawmakers had previously been optimistic that the Clarity bill could pass the Senate within the next two weeks, but the current progress means it will most likely be delayed until September, and the probability of passing in 2026 has dropped significantly. After the bill’s final working draft was released this week, controversy has persisted — Democrats are unhappy with ethics provisions for government officials, and some Republican lawmakers have raised objections over stablecoin yield treatment and wording of ethics clauses. The bill needs 60 votes to advance. If the Senate begins debate before the recess but fails to pass it, there will still be a brief window after returning in September, but election politics and other priorities will compete for legislative time.
Robinhood CEO Vlad Tenev’s X account was suspected to have been hacked, with a post claiming that “Vladhood ($VLAD)” would become the “official mascot of Robinhood Chain” and list on the Robinhood app, including a contract address. The official Robinhood account did not post any similar message, and the Robinhood Chain explorer flagged the token as a “potential scam.” Robinhood officials later confirmed that Tenev’s account was compromised and are working with X to restore access; the relevant post has been deleted. Robinhood Chain, launched on July 1, has become a hot venue for meme coin trading, processing roughly 6 million transactions daily with cumulative DEX trading volume around $9 billion, primarily driven by high-risk meme coins.
Swan CEO: Twenty One Serves Tether’s U.S. Political Interests, Mallers’ Role a “Figurehead”
In a podcast interview, Swan Bitcoin CEO Cory Klippsten sharply criticized Tether and its backed Twenty One Capital, claiming Tether “effectively controls” the publicly listed bitcoin reserve company and uses it as a tool to advance political interests in the U.S., but provided no evidence. Tether did not respond to a request for comment. Klippsten also described Strike founder Jack Mallers’ CEO role at Twenty One as a figurehead, saying his primary duty was to promote the company’s stock, and suggested that Mallers’ departure was not his own decision. Mallers resigned as CEO this week, while his company Strike also walked away from a potential merger with Twenty One.
Stripe Reportedly in Talks to Acquire OpenRouter, Deal Could Reach $10 Billion
Sources say Stripe is in talks to acquire AI model aggregator platform OpenRouter, with a deal possibly reached soon. OpenRouter was previously valued at roughly $1.3 billion, but if sold, the transaction value could reach around $10 billion.
Alphabet’s Stake in Anthropic Surges in Value to About $124 Billion
Alphabet Inc.’s stake in artificial intelligence startup Anthropic PBC has soared in value to roughly $124 billion, making it one of the most successful investments in the company’s history.
OpenAI Plans to Collaborate with AMD to Develop MI500 Series AI Chips and Follow-up Products
OpenAI expects large-scale deployment of AMD Helios. OpenAI's head of infrastructure said the company started using AMD Helios GPU racks three months ago, and OpenAI plans to collaborate with AMD on developing the MI500 series AI chips and subsequent products.
AMD CEO: Rack-scale AI system Helios has fully entered production
The AMD Advancing AI conference was held in San Francisco from July 22-23. At the conference, AMD CEO Lisa Su said that the AI accelerator market is expected to reach $1.4 trillion by 2030, the global data center CPU market will reach $220 billion, and the global computing market will reach $2 trillion. In addition, AMD officially launched its first rack-scale AI system, Helios. Lisa Su said that Helios has fully entered production and will begin shipping soon. CNBC analysis pointed out that a year ago, Lisa Su's forecast for the AI accelerator market size in 2028 was $500 billion. Based on the latest forecast, by the end of this decade, that scale will be roughly equivalent to the size of today's "entire semiconductor market." Lisa Su said that GPUs will account for the majority of that.
New US tariffs take effect today, imposing 10%-12.5% tariffs on dozens of countries
Just as the 150-day global temporary tariffs expired this Friday, the Trump administration introduced new tariff measures. Citing Xinhua News Agency, it reported that the US Trade Representative's office issued a notice on July 23, announcing under Section 301 of the Trade Act of 1974 that tariffs of 10% to 12.5% would be imposed on dozens of countries and regions for failing to prevent "forced labor," effective 24th Eastern Time. The above tariffs will cover 99% of US trade volume. The new tariffs will be stacked on top of already-in-effect tariffs, with only certain agricultural products, pharmaceuticals, aviation parts, steel and aluminum, etc., eligible for exemptions. The new tariffs will be stacked on top of already-in-effect tariffs, with only certain agricultural products, pharmaceuticals, aviation parts, steel and aluminum, etc., eligible for exemptions.
Coinbase now supports business customers accepting payments from AI agents via the x402 protocol
Starting this week, Coinbase is allowing its business customers to accept payments from AI agents via the x402 protocol, which was developed and incubated by Coinbase. Coinbase Business users can let agents pay in USDC with no additional setup, powered by Coinbase Payments. The head of Coinbase Business said they are providing a payment experience similar to traditional shopping scenarios for the new online agent economy — agents can shop after creating a wallet, and businesses provide services through an agent-friendly checkout flow. Coinbase also offers agent trading functionality, allowing users to give instructions in natural language, with agents monitoring the market in real-time and executing trades. Developers can add x402 payment acceptance to any API or web service in as few as 3 lines of code via the new x402 SDK on the Coinbase Developer Platform.
DEX aggregation protocol Odos announces cessation of operations, all services permanently shut down from July 30
Decentralized exchange aggregation protocol Odos posted on X that its operating company is gradually winding down operations. The Odos app will switch to read-only mode on July 27, and all services will permanently close on July 30. New account registration, new wallet creation, and new limit orders have been disabled since July 23; from July 27 to 30, the app will only allow viewing transaction history and balances; after July 30, services will completely cease, and the team will no longer provide development, support, or maintenance. Users who created wallets via social or email login must transfer assets to other wallets or export private keys before July 30. Odos emphasized that the ODOS token exists independently of the operating company, the company does not custody or market-make the token, and its cessation of operations does not affect the token's on-chain mechanisms. Odos DAO is independent of the company and will announce its plans separately. Odos reminded users to beware of fake migration websites and airdrop scams, and never share seed phrases or sign suspicious transactions.
US CFTC extends comment period for 24/7 futures trading and energy perpetual contract rules to August 26
The U.S. Commodity Futures Trading Commission (CFTC) extended the public comment period for proposed rules on "extending standard futures contracts to 24/7 trading and perpetual contracts for physically-deliverable or storable energy commodities" by 30 days, to August 26, 2026. The CFTC stated that it decided to extend the comment period based on commenters' requests and the addition of several new questions in the request for comments. The original request for comments focused on two types of issues: first, extending standard futures contracts (including energy futures) to 24/7 trading without changing fixed expiration dates, involving significant economic changes to delivery or settlement terms; second, perpetual contracts involving physically-deliverable or storable energy commodities. After extensive communication with the industry, the CFTC added additional questions for consideration to ensure a comprehensive evaluation of the relevant matters.
ARK Invest Director of Crypto Research Lorenzo Valente posted on X that Hyperliquid's weekly RWA (Real World Assets) trading volume exceeded crypto asset trading volume for the first time, accounting for 54% of total trading volume. Of that, $26 billion was HIP-3 RWA trading, with individual stocks making up 61% of RWA trading volume, surpassing indices and commodities since June. Valente said total DEX perpetual contract trading volume last week was $79 billion, of which Hyperliquid accounted for $50 billion, meaning its RWA market has surpassed the combined crypto perpetual trading volume of all other DEXs. Valente believes RWA trading will form a landscape independent of crypto assets, and investors should not rely solely on mainstream crypto asset trading volume as a judgment basis; paying attention to subcategories within RWA is more critical.
Report: Bitcoin may be near cycle bottom, multiple indicators simultaneously flash rare signals
Blockworks researcher Luke Leasure published a report indicating that Bitcoin may be at or near a cycle low. BTC is down 50% from its all-time high, the bear market has lasted over 40 weeks, and multiple high-timeframe indicators have simultaneously reached historically rare levels. Bitcoin recorded its most severe relative oversold reading against the Nasdaq ever this month, and also set a relative oversold record against gold in February. The realized price (on-chain average cost basis) is around $53,000, only 18% below spot, and historically every bear market low has traded at a discount to this level. The report noted that historically bear market cycles tend to bottom around the 60th week after the all-time high, which would correspond to a cycle low potentially appearing by the end of November 2026. If historical patterns hold, it would take about 120 weeks for Bitcoin to reclaim its previous high, implying new highs could appear by February 2028. Leasure emphasized that as Bitcoin matures, the marginal returns of passive holding strategies diminish; outperforming the market requires identifying opportunistic overweight or underweight windows. Currently multiple conditional signals are simultaneously at historically rare levels, and the period from now to December 2026 may present an attractive long-term re-accumulation window, but the sample size is small, and structural changes (ETFs, corporate holdings, derivatives) could invalidate historical patterns.
Argentina advances capital market deregulation, plans to allow mutual funds to invest in cryptocurrencies
The Argentine government is advancing capital market deregulation, planning to allow mutual investment funds (FCI) to invest in Bitcoin and cryptocurrencies, and to allow virtual assets to be used as collateral. The measure stems from a draft "Deregulation Bill" drawn up by Economy Minister Federico Sturzenegger, which is now awaiting President Javier Milei's signature before being submitted to Congress. The draft explicitly allows FCIs to allocate assets to virtual assets and creates "qualified investor" funds. The Argentine National Securities Commission's oversight of FCIs is limited to legality and technical solvency reviews; the central bank will have exclusive regulation of infrastructure involving the registration or transfer of cryptocurrencies and tokenized assets. The draft also explicitly allows securities such as stocks, convertible bonds, etc., to be issued, stored, and traded via crypto networks.
An entity stakes 1.49 million HYPE through 8 wallets, worth approximately $88.2 million
An entity staked 1.49 million HYPE (approximately $88.2 million) through 8 wallets, with individual staking amounts ranging from 115,700 to 390,400 tokens. On-chain data shows that all wallets withdrew HYPE from Bybit about 9 months ago and have held it since.
1kx: On-chain protocol fees fell 33% YoY in Q2, perpetual and prediction markets grew 22% against the trend
Crypto VC firm 1kx posted an analysis on X stating that on-chain protocol fees dropped 33% year-over-year in the second quarter. Among them, DEX fees fell by $625 million (–57%), mainly led by declines from Meteora, Raydium, and PancakeSwap, which collectively generated $1.5 billion in fees in the first half of last year. Blockchain and MEV fees decreased 40% to $362 million. Launchpad fees dropped 57%, with Pump.fun accounting for nearly half. However, perpetual contract and prediction market fees grew 22% YoY, led by edgeX and Hyperliquid; Polymarket fees neared $100 million in a single quarter. Lending and asset management protocol fees continued to grow, with Morpho, USDai_Official, and maplefinance each adding $9 million to $19 million; Canton Network added $179 million in L1 fees (mostly incentive-driven).
CryptoQuant: Ethereum shows improving signs relative to Bitcoin, but key bottom signal not yet confirmed
CryptoQuant’s latest weekly report notes that ETH is trading roughly 17% below its realized price (~$2,300). Historically, when ETH trades below its realized price, it often coincides with market undervaluation and long-term bottom zones. Ethereum also shows improving signs relative to Bitcoin: ETH’s MVRV ratio has retreated from extremely overvalued levels, exchange inflows have declined, ETF holdings have started to recover after months of weakness, and ETH/BTC spot trading volume has fallen into ranges historically associated with market bottoms. Nevertheless, only two of CryptoQuant’s five key bottom indicators have reached historical reversal levels. The remaining indicators, though improving, have not yet touched the extreme levels seen at prior cycle lows, suggesting Ethereum’s bottom may still be forming.
Goldman Sachs CEO publicly backs Clarity Act, diverging from Wall Street peers
Goldman Sachs CEO David Solomon said in a Politico interview that he is “very supportive of advancing the Clarity Act,” hoping to establish market structure and push the innovation process forward. Solomon acknowledged the bill is “not perfect,” but its core value lies in creating a level playing field to enhance market stability. This stance puts him at odds with JPMorgan Chase CEO Jamie Dimon and banking trade groups, which have opposed the bill’s stablecoin yield provisions for months, arguing that allowing crypto firms to offer stablecoin rewards at higher rates than banks could siphon off bank deposits. The Clarity Act classifies most crypto assets as non-securities and excludes them from SEC oversight while protecting decentralized developers. The latest version adds an ethics clause restricting the president and family from engaging in crypto businesses, but it expires in 2029 and does not limit Trump’s sons — a point Democrats have criticized as insufficient. It remains uncertain whether the bill can pass before the August recess.
“Set 10 big goals first” whale’s long position increased to 2,933.63 BTC, with unrealized profit of $209,000
The “Set 10 big goals first” whale @Jason60704294 has increased its long position to 2,933.63 BTC, with an entry price of $64,940.14, total position value of $190 million, and unrealized profit of $209,000. After closing shorts, it flipped to a long because its medium- to long-term bullish view on BTC remains unchanged, believing $60,000 is an important cost-support area, with a stop-loss range of $61,500 to $64,000.
BlackRock: Crypto networks still hold the advantage in facing quantum threats
BlackRock published a report titled “Quantum Computing and Blockchain,” pointing out that upgrading existing cryptographic systems to quantum-resistant standards is technically entirely feasible, with the core challenge being timely coordination and implementation, and the upgrade difficulty is far lower than building a practical quantum computer capable of breaking those cryptographic systems. The report says about 35% of the circulating Bitcoin supply faces potential attack risk due to exposed public keys, and 11% to 19% could be permanently lost during migration. BlackRock believes crypto networks still hold the advantage in addressing quantum threats, saying “the advantage still lies with the defense.” Additionally, on Thursday, BlackRock joined Coinbase, Fidelity Digital Assets, and Block to announce the formation of the Bitcoin Security Alliance, funding developers to contribute code to open-source quantum-resistant proposals such as BIP-360. BlackRock said BIP-360 is a trusted and well-designed solution but did not call it the final solution.
BTC treasury company KULR Technology reduces again by 145.8 BTC, leaving only 100 BTC in reserve
BTC treasury company KULR Technology transferred 145.8 BTC ($9.45 million) to Coinbase Prime five hours ago. After multiple reductions over nearly three months, its reserve of 1,021 BTC ($101 million) now stands at just 100 BTC ($6.47 million). The average BTC reserve cost was $98,923, and the average selling price was $74,368, resulting in a loss of $22.62 million. It appears to have abandoned its Bitcoin treasury strategy.
A whale deposits 2.93 million HYPE (~$172 million) into Hyperliquid via 19 wallets and stakes
A whale deposited and staked 2.93 million HYPE ($172 million) into Hyperliquid via 19 wallets in the past 24 hours. These HYPE were accumulated nine months ago at an average price of $44, with a current unrealized profit of approximately $44.5 million.
AI chip startup Etched completes $300 million Series C, post-money valuation reaches $10.3 billion
AI chip startup Etched completed a $300 million Series C funding round led by Sequoia, with participation from Andreessen Horowitz, SK Hynix, Jane Street, and Diffusion Capital, reaching a post-money valuation of $10.3 billion, doubling from its $5 billion valuation last December. Etched was founded in 2022 by three Harvard dropouts, designing chips specifically for AI models based on the Transformer architecture. The company said it has successfully manufactured its own chips and has been tested by customers, having already received $1 billion in orders. Etched designed two new components for the inference process: a prefill chip that dramatically boosts speed and reduces heat through low-voltage operation, and a decode chip that uses cluster-level memory technology to enable a shared memory pool among chips. Etched currently has 400 employees, operates a 2MW data center, and has opened a new 80,000-square-foot, 10MW facility in Milpitas.
TIME magazine cover spotlights Unitree: Chinese humanoid robot company leads global wave
Unitree has appeared on the latest cover of TIME magazine, with the accompanying title: “The humanoid robot revolution is coming — Chinese company Unitree leads the trend.”
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Binance adds ACX, LSK, STX to its monitored token list, tagging them as highly volatile and high-risk assets.
Binance announced in an official statement that starting July 24, 2026, it will add Across Protocol (ACX), Lisk (LSK), and Stacks (STX) to its "Monitoring Tag" list. Binance noted that tokens with the monitoring tag have higher volatility and risk compared to other listed assets, and the platform will closely monitor the relevant projects and conduct regular reviews. Such tokens face the risk of failing to meet Binance's listing standards and potentially being delisted in the future. Binance added that factors including the project team's level of commitment, quality of development activities, trading volume and liquidity, network security, smart contract stability, information disclosure status, changes to token economic models, and presence of any improper conduct will all be included in subsequent assessments. Binance stated that other services related to ACX, LSK, and STX will not be affected for the time being, and the monitoring tag will be updated after the announcement is released.
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Sources familiar with the matter: The Bank of Japan is likely to maintain its policy guidance and commit to continuing interest rate hikes.
According to sources, the Bank of Japan (BOJ) is shifting its focus to whether companies will pass rising cost pressures on to households, and will continue to warn at next week’s policy meeting that inflation could stay above the 2% target for a prolonged period. Sources said the BOJ is expected to signal that the risk of short-term inflationary shocks triggered by rising oil prices has eased since April, though overall price pressures remain a concern. Additionally, the BOJ is likely to maintain its current policy guidance of continuing its interest rate hike path. Markets expect the BOJ to determine the pace of future monetary policy adjustments based on wage growth, service prices, and corporate pricing behavior.
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South Korea's KOSPI index saw its decline widen to 5.61%, with Samsung falling more than 6%.
According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5.61%, Samsung fell more than 6%, and SK Hynix dropped 5.52%.
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An early MakerDAO address sold 1,050 MKR tokens after lying dormant for 10 years, netting $1.316 million in USDC.
According to EmberCN monitoring, an address belonging to MakerDAO’s early team or investor sold MKR tokens it had held for nearly 10 years 40 minutes ago, converting the proceeds to USDC. Data shows the address received 1,050 MKR in April 2016, with no transfers made over the subsequent decade—only a wallet migration during the MKR token upgrade in 2018. The address sold all 1,050 MKR this time, receiving approximately 1.316 million USDC, and transferred the funds to the Kraken exchange.
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Maji was liquidated again, and subsequently sold BAYC NFTs to top up its margin.
According to Lookonchain’s monitoring, the address of crypto figure "Brother Ma Ji" Huang Licheng has been liquidated again. To raise funds to sustain his ETH long position, he was forced to sell a Bored Ape NFT at a loss. Data indicates that roughly two hours ago, Machi offloaded Bored Ape #6801 for 8.61 ETH. The NFT was purchased three years ago for 23.5 ETH, resulting in a loss of 14.89 ETH, equivalent to approximately $28,000.
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Machi liquidated, forced to sell Bored Ape 6801 for 8.61 $ETH, taking $28K loss
Machi(@machibigbrother) was liquidated again! To raise more funds for his $ETH long, he had to sell his Bored Apes at a loss. 2 hours ago, he sold Bored Ape #6801 for 8.61 $ETH, which he bought 3 years ago for 23.5 $ETH, taking a loss of 14.89 $ETH($28K).
Marathon Digital has launched a small Bitcoin mining pilot in Utah powered by landfill methane gas, and while the project is not huge, it is a useful example of where mining infrastructure may be heading.
The project, built with Nodal Power, uses off-grid landfill methane to generate electricity for Bitcoin mining. Marathon’s announcement describes the facility as a 280 kW pilot, or 0.28 MW, with reported uptime of 92% and power costs around $0.03 per kWh.
That is not a massive hashrate deployment.
But scale is not really the point here. The point is that Marathon is testing whether waste methane, which would otherwise be an environmental liability, can be turned into a low-cost power source for mining.
That is the kind of energy story Bitcoin miners need more of, especially as political and environmental scrutiny around mining continues.
TL;DR Marathon Digital and Nodal Power launched a 280 kW landfill methane Bitcoin mining pilot in Utah. The project uses off-grid landfill gas to generate electricity. The facility is small, so the environmental impact should not be overstated, but the model is strategically interesting. Bitcoin Mining Needs Better Energy Narratives Bitcoin mining has always been tied to electricity.
That makes it easy to criticize and sometimes hard to explain. Critics focus on energy consumption, grid pressure, and emissions. Miners respond by pointing to stranded power, renewables, demand response, and the ability to monetize energy that would otherwise be wasted.
Both sides can be selective.
The reality is that mining’s environmental profile depends heavily on where the power comes from, how the facility interacts with the grid, and whether the project solves a real energy problem or simply consumes cheap electricity.
That is why landfill methane projects are interesting.
Methane is a potent greenhouse gas. If it escapes into the atmosphere, it creates environmental harm. Capturing it and using it for electricity can turn a waste problem into an energy source. If that electricity is off-grid and would not otherwise be used efficiently, Bitcoin mining can act as a flexible buyer.
That is the theory Marathon is testing.
Small Pilot, Bigger Implications A 280 kW project is tiny compared with large industrial mining sites.
Some major facilities run at tens or hundreds of megawatts. So this Utah deployment should not be presented as a major shift in Marathon’s overall energy footprint. It is a pilot, and a small one.
But pilots matter because they test operational viability.
Can the gas supply be reliable? Can the generators run efficiently? Can mining equipment operate with enough uptime? Are maintenance costs manageable? Does the power price stay competitive? Can the model be repeated at other landfill sites?
Those are practical questions, not marketing questions.
The reported 92% uptime and roughly $0.03 per kWh power cost suggest the pilot has enough promise to watch. If those economics can be repeated, landfill gas mining could become a useful niche for miners looking for cheap energy and stronger environmental positioning.
Why Off-Grid Power Is Attractive Off-grid power matters because it reduces the argument that miners are competing directly with households or businesses for electricity.
If a mining facility uses power that is stranded, wasted, or difficult to deliver to the grid, the economics look different. Mining becomes a buyer of last resort, or a way to monetize energy at the source.
That flexibility has always been one of Bitcoin mining’s stronger arguments.
Miners can locate near energy rather than near customers. They can shut down quickly if needed. They can operate in remote areas. They can turn irregular or stranded energy into revenue.
Landfill methane fits that model because the fuel source is location-specific and often underused.
If Bitcoin mining helps capture and consume methane that would otherwise be vented or flared, the environmental conversation becomes more complicated than “mining uses electricity.”
The Industry Still Needs Proof At Scale The challenge is scale.
One pilot does not transform Bitcoin mining’s environmental record. It does not prove every landfill gas project will work. It does not erase concerns about mining facilities that rely on fossil-heavy grids.
Marathon and other miners need to show that these models can scale, remain profitable, and produce measurable environmental benefits.
That last part is important. If miners want credit for emissions reduction, they need credible measurement. How much methane was captured? What would have happened without the project? How much electricity was produced? What emissions were avoided?
Without those numbers, the story can become vague.
Mining Is Becoming An Energy Infrastructure Business The bigger shift is that Bitcoin miners increasingly look like energy infrastructure operators, not just data-center companies.
They negotiate power contracts, work with stranded energy, participate in grid programs, evaluate generation sources, and compete with AI data centers for access to electricity. The winners may not simply be the miners with the newest machines. They may be the miners that understand energy markets best.
Marathon’s landfill gas pilot fits that direction.
It is small, but it shows the kind of practical experimentation that could shape the next mining cycle. Instead of only chasing cheap grid power, miners are looking for energy problems they can help monetize.
That may be the strongest long-term argument for Bitcoin mining.
Not that every mining operation is clean. Not that energy concerns do not matter. But that mining can sometimes turn wasted or stranded energy into economic value.
The Utah pilot will not settle the debate. It does, however, give the industry a better kind of example to point to.
This article is based on Marathon Digital’s announcement of its Utah landfill methane gas Bitcoin mining pilot.
This article was written by the News Desk and edited by Samuel Rae.
