Track market-moving stories before they get noisy

SummaryArray Technologies is rated buy, but as a speculative, capital-structure-sensitive investment, it is not a low-risk infrastructure play.ARRY's $2.5B order book, improved domestic margins, and product expansion support the thesis, but weak cash conversion and preferred equity weigh heavily.The investment case hinges on converting orders into cash flow and reducing senior financial claims, rather than simply growing revenue or bookings.Current valuation implies modest EBITDA growth is sufficient for upside, but failure to improve cash conversion or margins could severely impact common equity value. Justin Paget/DigitalVision via Getty Images

Investment Thesis Array Technologies (ARRY) reported approximately $76.7 million in free cash flow in the first six months of 2026. Usually, it would be a rather encouraging figure for a company, whose market capitalization has dropped to around $534 million.

10 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Germany's Sparkasse network has started crypto trading in its banking app via DekaBank, covering Bitcoin, Ether, XRP, Solana and Polygon's POL, with a staggered bank-by-bank rollout.

Germany's Sparkasse banking network has begun rolling out crypto trading inside its banking app, bringing Bitcoin ($BTC), Ether ($ETH, @ethereum), XRP ($XRP, @XRP), Solana ($SOL, @solana) and Polygon's POL token ($POL, @0xPolygon) to customers of Europe's largest banking group by assets.

The service went live on October 19, 2026, but access is not yet nationwide. Each local savings bank must switch it on individually, so only customers of participating institutions can use it for now.

How the Sparkasse crypto service worksThe product is called "Krypto, powered by Deka" and is run by DekaBank, the securities house of the Sparkassen group. According to Bloomberg, the rollout will be gradual over the coming months, and each Sparkasse decides on its own whether to offer it. DekaBank handles trade execution and custody. Customers open a separate crypto account with DekaBank inside the app's investing section, and a securities account is not required.

The fee is reported at €0.99 per order. DekaBank's announcement does not detail other costs such as spreads, according to fund research outlet e-fundresearch. Reporting also says the service is aimed at adult, self-directed investors and that no investment advice is given.

Sparkassen-Finanzgruppe is described as the largest financial services group in Germany and Europe by assets. Crypto assets held through the service are not covered by statutory deposit insurance, BeInCrypto notes.

Rollout pace and regulatory backdropOnly a handful of banks were live at launch. More than 230 institutions have reportedly expressed interest, and 30 to 40 additional banks are expected to join each month. Joachim Schmalzl of the German Savings Banks Association (DSGV) said it is for each savings bank to decide when to start, according to dpa. The association is aiming for a large share of interested banks to be connected in the first half of 2027.

The move marks a reversal for the group. Bloomberg reports that the Sparkassen long rejected crypto offerings and that its bodies recommended against crypto trading about four years ago because of the risks. The shift was justified by customer demand and a changed regulatory framework.

DekaBank received its licence under the EU's Markets in Crypto-Assets rules (MiCA) from Germany's BaFin in 2025, which lets it bundle trading, custody and customer support in one place, according to Bloomberg and e-fundresearch.

Sources:

Bloomberg via Yahoo Finance: Deka startet Bitcoin-Handel nach Sparkassen-Richtungsschwenke-fundresearch: DekaBank startet Kryptohandel fuer Sparkassen-Kunden

Almost 2.7 million tokens have been scorched in the last 24 hours.

The popular meme coin has had a tough year so far, with its price collapsing by nearly 30% since January 1. At the same time, investor interest in the token has cooled significantly, which could weigh on any potential rebound.

The resurgence of Shiba Inu’s burning mechanism is one of the few rays of hope, but it may not be as bullish as it appears at first glance.

The Burns and More According to the X account Shibburn, the team and community have scorched almost 2.7 million SHIB in the past 24 hours, a 492% increase from the previous day. The burning program is a vital part of Shiba Inu’s ecosystem, designed to gradually reduce the token’s vast supply and potentially increase its value through scarcity.

Nearly 2.7 million coins may sound impressive, yet the USD valuation of the stash is negligible at around $13. That said, far more aggressive burns will likely be needed to meaningfully affect SHIB’s supply dynamics.

The team introduced the mechanism in 2022, and over 410.8 trillion tokens have already been sent to a null address, with Vitalik Buterin contributing a significant portion of that figure.

Another factor that could help SHIB recover some of its losses is a potential uptick in Shibarium’s activity. Daily transactions processed on the layer-2 scaling solution have exploded by roughly 370% in the past 24 hours, reaching 7,300. Still, this is nowhere near the levels seen months ago and is unlikely to be a major bullish catalyst.

Shibarium Daily Transactions, Source: shibariumscan.io Price Prediction There has been little commentary on SHIB lately, with Crypto With Gopal emerging as one of the few analysts to offer a forecast. The X user suggested the meme coin has printed a falling Wedge formation as the price consolidates near $0.00000502, while buyers look to defend support.

The analyst said a breakout above the descending resistance could spark a bullish momentum shift, setting $0.0000060 as an upside target and identifying $0.0000047-$0.0000048 as a support zone.

“SHIB bulls are watching for a breakout – meme coin momentum could return,” he concluded.

Meanwhile, the amount of Shiba Inu stored on crypto exchanges remains relatively low at just north of 87 trillion coins, which supports the bullish perspective since it reduces immediate selling pressure.

SHIB Exchange Netflow, Source: CryptoQuant Tags:

F5 (NASDAQ: FFIV), the global leader in delivering and securing every app and API, today announced that Telenor AI Factory has selected F5 BIG-IP Next for Kubernetes as an intelligent AI service plane for its NVIDIA-powered sovereign AI infrastructure. Telenor AI Factory is designed to help Norwegian and European organizations access secure, high-performance AI services while maintaining control over where data is processed, stored, and accessed.

Sovereign AI requires more than national GPU capacity. It requires an operational AI service plane that can govern where data flows, how tenants are isolated, and how policy is enforced in real time.

Telenor AI Factory addresses growing European sovereignty requirements by combining Telenor’s national infrastructure and connectivity with NVIDIA-powered AI infrastructure and F5’s intelligent traffic management, security, and governance capabilities.

With F5 BIG-IP Next for Kubernetes, Telenor can apply policy, visibility, tenant isolation, and traffic control directly in the AI service path. In the future, Telenor also plans to leverage F5 technology to expand the service plane with token-aware governance and more advanced inference traffic optimization as commercial AI services scale.

F5 BIG-IP Next for Kubernetes on NVIDIA BlueField DPU provides the following capabilities for Telenor AI Factory:

Secure multi-tenancy and network isolation enable customers to share sovereign GPU infrastructure while mitigating the challenge of tenant interference, policy drift, and data exposure.Policy-based traffic control aligns ingress, egress, API interactions, and operational telemetry with sovereignty and compliance requirements.Real-time observability and telemetry provide visibility for operations, auditability, and compliance reporting.Planned token-aware governance and circuit breaking help manage AI consumption, enforce usage policies, and support entitlement, reporting, and billing workflows.Planned inference-aware traffic optimization improves utilization and maintains consistent performance across dynamic AI inference workloads.Building digital sovereignty into AI Factory infrastructure

Sovereign AI is defined not only by where infrastructure is located, but also by how AI traffic, customer data, telemetry, and policy are controlled. Telenor AI Factory is designed to help Norwegian and European organizations meet these requirements while supporting the needs of highly regulated industries.

F5 BIG-IP Next for Kubernetes provides policy enforcement in the data path, enabling Telenor to apply consistent controls across ingress, egress, API interactions, observability, and AI inference traffic.

Extending the AI service plane as services scale

Telenor plans additional AI-specific capabilities as commercial services scale, including token-aware usage visibility and policy controls, circuit breaking, and more advanced inference-aware traffic management. These capabilities from F5 are intended to support greater control over AI consumption as well as entitlement, reporting, and billing workflows.

By running F5’s traffic-management data plane on NVIDIA BlueField-3, selected networking and security functions can be accelerated and isolated from host workloads. This preserves host CPU capacity for AI applications, strengthens the enforcement boundary between infrastructure and tenants, and helps reduce data-path bottlenecks as commercial AI services scale.

Supporting quotes

“At Telenor AI Factory, our purpose is to give Norwegian and European enterprises access to trusted, secure, and high-performance AI services. Sovereignty has to extend beyond where infrastructure sits to how AI services are operated and governed. F5 gives us a policy and traffic-control layer we can build on as we scale services for customers,” said Kaaren Hilsen, CEO of Telenor AI Factory.

“As AI factories move from infrastructure projects to commercial service platforms, service providers need a way to govern AI traffic, tenants, telemetry, and policy in real time. With BIG-IP Next for Kubernetes, Telenor is establishing an AI service plane that can grow with its sovereign AI services, including a path to deeper token-aware governance and DPU acceleration as requirements evolve,” said Kunal Anand, Chief Product Officer at F5.

“Together, NVIDIA-powered AI infrastructure and F5 BIG-IP Next for Kubernetes on BlueField-3 help service providers such as Telenor deliver high-performance AI services while maintaining the governance, control, and security required for sovereign AI,” said Ash Bhalgat, Sr. Director, AI Ecosystem and Marketing, at NVIDIA.

Supporting resources

Learn more about F5 for sovereign AILearn more about F5 BIG-IP Next for KubernetesLearn more about Telenor AI FactoryAbout TelenorAbout F5

F5, Inc. (NASDAQ: FFIV) is the global leader that delivers and secures every app. Backed by three decades of expertise, F5 has built the industry’s premier platform—F5 Application Delivery and Security Platform (ADSP)—to deliver and secure every app, every API, anywhere: on-premises, in the cloud, at the edge, and across hybrid, multicloud environments. F5 is committed to innovating and partnering with the world’s largest and most advanced organizations to deliver fast, available, and secure digital experiences. Together, we help each other thrive and bring a better digital world to life.

For more information visit f5.com
Explore F5 Labs threat research at f5.com/labs
Follow to learn more about F5, our partners, and technologies: Blog | LinkedIn | X | YouTube | Instagram | Facebook

F5, BIG-IP, BIG-IP Next, and F5 ADSP are trademarks, service marks, or tradenames of F5, Inc. or its affiliates in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.

The use of the terms “partner,” “partners,” “partnership,” or “partnering” in this press release does not imply that a joint venture exists between F5 and any other company.

This press release contains forward-looking statements, including statements about the planned capabilities, availability, and expected benefits of F5 BIG-IP Next for Kubernetes for Telenor AI Factory. Actual results may differ materially due to technical, commercial, and other factors, including the risks described in F5’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. F5 undertakes no obligation to update these statements.

Source: F5, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261020898728/en/

 | Source:

Getty Images, Inc.

Paves Way for Equity Investment of Up to $533 Million from Getty Family and Koch Equity Development, Significant Debt Reduction, and Resolution of Non-Operating Legal Liabilities

Initiates Prepackaged Chapter 11 Process to Implement Agreed-Upon Plan of Reorganization, With No Impact on Operations, Employees, Contributors, Partners, or Customers

NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Getty Images Holdings, Inc. (OTCPK: GETY) (“Getty Images” or the “Company”), the preeminent source of authentic global visual content and coverage, today announced that it has moved forward to implement its previously disclosed financial restructuring, which includes an equity investment of up to $533 million from members of the Getty family, through certain of their affiliated entities, and affiliates of Koch Equity Development (“KED”) (together, the “Equity Investors”), as well as a significant reduction in the Company’s outstanding debt. With non-operating legal liabilities addressed and a substantially strengthened balance sheet, Getty Images will be well positioned to invest in future growth, continue serving customers and supporting contributors globally, and execute against its long-term strategy.

The Company has launched a solicitation process for formal approval of the prepackaged plan of reorganization and, to implement the plan in the most efficient manner, has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the “Court”) for certain of its U.S. entities. Under a Restructuring Support Agreement entered into on October 12, 2026, the plan already has the support of the Company’s major financial stakeholder groups, including the Equity Investors and lenders across the capital structure.

Getty Images will continue operating in the ordinary course throughout the process. There is no anticipated impact on content contributors, partners, customers, employees, or vendors, and the Company expects to continue fulfilling obligations and serving stakeholders as usual.

“Today's filing is a procedural step to implement the financial restructuring previously announced. Getty Images continues to operate normally, serving customers and supporting contributors and partners around the world. This process addresses our capital structure and certain non-operating liabilities and supports expanded investment into our content and services,” said Craig Peters, Chief Executive Officer of Getty Images.

The Company expects to complete the restructuring by year end after customary regulatory approvals are obtained and emerge as a privately held company owned by the Equity Investors.

Additional Information about the Court Process

As part of the process, the Company has filed with the Court a series of customary motions to facilitate fulfilling commitments to employees, serving customers, and making pre- and post-filing payments to vendors in the ordinary course. The Company expects to fund the restructuring with financing from an affiliate of KED of up to $143 million, in addition to cash generated from ongoing operations.

Additional information about the process is available in the Company’s Form 8-K to be filed with the U.S. Securities and Exchange Commission and at https://restructuring.ra.kroll.com/GettyImages or by contacting Kroll at [email protected] or 844-408-3675 (toll-free) or 646-825-2402 (international).

Advisors

Simpson Thacher & Bartlett and Cole Schotz P.C. are serving as counsel, Guggenheim Securities, LLC is serving as investment banker, Alvarez & Marsal North America, LLC is serving as financial advisor, and Kekst CNC is serving as strategic communications advisor to the Company. Gibson, Dunn & Crutcher LLP is serving as legal counsel and Houlihan Lokey Capital, Inc. is serving as investment banker to the ad hoc group of secured creditors. Akin Gump Strauss Hauer & Feld LLP is serving as legal counsel and Perella Weinberg Partners LP is serving as investment banker to the ad hoc committee of unsecured creditors. Milbank LLP is serving as legal advisor to the agent for the revolving lenders. Jones Day is serving as legal advisor and Rothschild & Co is serving as financial advisor to KED. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor and Moelis & Company LLC is serving as financial advisor to members of the Getty Family, through certain of their affiliated entities.

About Getty Images

Getty Images (OTCPK: GETY) is the preeminent source of global visual content and coverage that offers a full range of content solutions to meet the needs of any customer around the globe, no matter their size. Through its Getty Images, iStock and Unsplash brands, websites and APIs, Getty Images serves customers in almost every country in the world and is the first-place people turn to discover, purchase and share powerful visual content from the world’s best photographers and videographers. Getty Images works with over 600,000 content creators and over 360 content partners to deliver this powerful and comprehensive content. Each year Getty Images covers more than 160,000 news, sport and entertainment events providing depth and breadth of coverage that is unmatched. Getty Images maintains one of the largest and best privately-owned photographic archives in the world with millions of images dating back to the beginning of photography.

Through its best-in-class creative library and Custom Content solutions, Getty Images helps customers elevate their creativity and entire end-to-end creative process to find the right visual for any need. With the adoption and distribution of generative AI technologies and tools trained on permissioned content that include indemnification and perpetual, worldwide usage rights, Getty Images and iStock customers can use text to image generation to ideate and create commercially safe compelling visuals, further expanding Getty Images capabilities to deliver exactly what customers are looking for.

For company news and announcements, visit our Newsroom.

About Koch Equity Development
Koch Equity Development is the principal investment and acquisition arm of Koch, Inc. ("Koch"), one of the largest privately held businesses in America. Since 2012, KED has deployed more than $40 billion in equity investments and acquisitions. With revenues that have exceeded $125 billion, Koch companies employ about 130,000 people worldwide, with nearly half of those in the United States.

Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this press release include, but are not limited to, statements regarding the Restructuring Support Agreement, the financial restructuring, the Chapter 11 proceedings, the prepackaged plan of reorganization, the solicitation process, the equity investment by the Equity Investors, the financing from KED, the expected timing of completion of the restructuring and emergence, the Company’s expected operations during the Chapter 11 proceedings and the expected treatment of claims and interests. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the Company’s control.

These forward-looking statements are subject to a number of risks and uncertainties, including: the Company’s ability to consummate the financial restructuring on the terms set forth in the Restructuring Support Agreement or at all; the Company’s ability to satisfy the milestones and other conditions under the Restructuring Support Agreement, the equity commitment letter contemplated thereby and the financing from KED, and the risk that any of them is terminated; the Company’s ability to obtain the requisite acceptances of the prepackaged plan of reorganization and to obtain Court approval of the financing, the plan and other motions and requests filed in the Chapter 11 proceedings; risks attendant to the Chapter 11 process, including the effects of the Chapter 11 proceedings on the Company’s liquidity, results of operations and business, and on its relationships with customers, content contributors, suppliers, employees and other third parties; objections to the financial restructuring, the financing or other pleadings that could protract the Chapter 11 proceedings; the length of time the Company will operate under Chapter 11 protection; increased legal and other professional costs; the receipt of required regulatory approvals; the treatment of existing equity interests under the plan, which would result in holders of the Company’s Class A common stock not receiving or retaining any property on account of such interests; the outcome of the warrant litigation and related matters; the delisting of the Company’s Class A common stock from the New York Stock Exchange and the limited trading market for the Class A common stock on the OTC Pink Limited Market; the risk that the Company may lose the right to use “Getty Images” trademarks; the risks associated with the Company’s expression of substantial doubt about its ability to continue as a going concern; the Company’s ability to continue to license third-party content and offer relevant quality and diversity of content to satisfy customer needs; the Company’s ability to attract and retain customers and key personnel; the risk that the Company operates in a highly competitive market; the legal, social and ethical issues relating to the use of new and evolving technologies, such as artificial intelligence; the risks of technological interruptions or cybersecurity vulnerabilities; changes in applicable laws or regulations; and other risks and uncertainties identified in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2026, as amended by Amendment No. 1 on Form 10-K/A filed with the SEC on April 27, 2026 (the “2025 Form 10-K”), and in the Company’s other filings with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

The risks described under the heading “Item 1A. Risk Factors” in the 2025 Form 10-K and in the Company’s other filings with the SEC are not exhaustive. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

No Solicitation or Offer
Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code and/or another exemption under the Securities Act and any state securities laws. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any Chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and/or disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.

Media Contact
Getty Images
Anne Flanagan
[email protected]

Investor Contact
Getty Images
Steven Kanner
[email protected]

Raydium just won a round in Solana’s most closely watched exchange rivalry. On October 7, 2026, the protocol logged $192.2 million in 24-hour trading volume, slipping past PumpFun’s PumpSwap, which recorded $185.0 million.

The gap was $7.2 million. In a market that moves hundreds of millions a day, that is less a knockout than a photo finish.

The numbers behind the flip
The daily volume jump pushed Raydium to eighth place in the global decentralized exchange rankings. That is one spot higher than the ninth position it held before.

The monthly picture is less flattering for Raydium. In September 2026, it captured 12.2% of Solana DEX volume, while PumpFun led the pack with 18.6%.

Context matters on the PumpFun side too. The platform hit a peak of more than $1.7 billion in trading volume in a single day during July 2026. The $185.0 million it posted on October 7 sits far below that high-water mark.

How the rivalry started
For a long stretch, PumpFun and Raydium were partners of convenience. PumpFun was the place memecoins were born, and Raydium was often where they went to trade once they grew up.

That changed in early 2025, when PumpFun launched PumpSwap, its own automated market maker. By building its own, PumpFun cut its dependence on Raydium. Liquidity that used to flow to Raydium started staying in-house.

Raydium’s response was to stop betting everything on memecoins. It introduced LaunchLab, a token launch platform that competes directly with PumpFun’s core product, and it leaned into tokenized asset trading.

That second bet appears to be paying off. Over the past 30 days, Raydium handled 80.5% of trading volume in xStocks-issued assets, or $805.2 million. xStocks are tokenized versions of traditional assets that trade onchain.

Raydium also brings scale that predates the current fight. Its cumulative trading volume passed $1 trillion in May 2026, and its liquidity pools hold around $806 million, the highest of any venue on Solana.

What this means for Solana traders and protocols
PumpFun still owns the memecoin segment. When speculative token launches heat up, as they did during its July peak, its volume can dwarf the competition.

Raydium is building a broader base. Tokenized assets, a launchpad of its own and the deepest liquidity on Solana give it volume sources that do not rise and fall entirely with memecoin activity.

For anyone tracking these protocols as businesses, the September market share figures are the more reliable benchmark. PumpFun’s 18.6% against Raydium’s 12.2% shows the leader still has a meaningful cushion on a monthly basis.

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

Zoom Communications, Inc. (ZM) Discusses Strategy, Vision, AI Initiatives and New Revenue Streams at Investor Session October 20, 2026 4:00 PM EDT

Company Participants

Charles Eveslage - Head of Investor Relations
Michelle Chang - Chief Financial Officer
Graeme Geddes - Chief Sales & Growth Officer
Russell Dicker - Chief Product Officer
Chris Morrissey
Eric Yuan - Founder, President, CEO & Chairman

Conference Call Participants

Aleksandr Zukin - Wolfe Research, LLC
Ioannis Samoilis - Robert W. Baird & Co. Incorporated, Research Division
Arjun Bhatia - William Blair & Company L.L.C., Research Division
Sitikantha Panigrahi - Mizuho Securities USA LLC, Research Division
Jackson Ader - KeyBanc Capital Markets Inc., Research Division
Catharine Trebnick - Rosenblatt Securities Inc., Research Division
Samik Chatterjee - JPMorgan Chase & Co, Research Division
Elizabeth Elliott - Morgan Stanley, Research Division
Allan M. Verkhovski - BTIG, LLC, Research Division
Taylor McGinnis - UBS Investment Bank, Research Division
Joshua Reilly - Needham & Company, LLC, Research Division

Conversation

Charles Eveslage
Head of Investor Relations

Okay, all right. Hello, everyone, and welcome to our investor session at Zoomtopia 2026. We're so happy to have everyone here in the room and also on the virtual audience. I hope you guys got to experience the keynote and all the exciting things happening there. And for those of you here today, I hope you enjoyed the nice lunch with a view.

We have a packed agenda for you all today. First, Michelle, our CFO, will touch on Zoom's strategy, vision, priorities, and progress and connect that to what you all care about, our growth, our ability to generate cash, and return capital for shareholders; then Graeme, our Chief Sales Officer, will take us through the first priority of elevating our core business with AI; Chris Morrissey, our GM of Customer Experience, will take us through all the exciting things in his world; and then Russell Dicker, our Chief Product Officer, will come on to take us through the new AI revenue streams.

21.10.2026 08:40, BAADSPW

Strojírenská společnost Doosan Škoda Power oznámila, že ji 20. října informoval její většinový akcionář Doosan Power Systems o zahájení prodeje části svého podílu formou zrychleného úpisu (ABB) určeného vybraným kvalifikovaným investorům.

Prodávající akcionář nabídne až 3 190 000 akcií, které představují přibližně 10 % základního kapitálu a hlasovacích práv. Nabídku může navýšit o dalších až 2 232 999 akcií (přibližně 7 %). Pokud prodá všechny nabízené akcie, bude po dokončení transakce držet 50 % + 1 akcii.

Doosan Power Systems se zavázal, že zbývající akcie nebude po určitou dobu prodávat (tzv. lock-up). U podílu 50 % + 1 akcie platí omezení 360 dnů, u ostatních akcií 180 dnů, v obou případech ode dne vypořádání transakce.

Společnost požádala pražskou burzu o dočasné pozastavení obchodování se svými akciemi do zveřejnění výsledků zrychleného úpisu.

Akcie Doosan Škoda Power Akcie společnosti Doosan Škoda Power (BAADSPW) včera na pražské burze uzavřely na 453 Kč. Se stejným tickerem se akcie společnosti obchodují taktéž na RM-SYSTÉMu, kde uzavřely za 457 Kč.

Zdroj: Doosan Škoda Power

Michal Bárta
Fio banka, a.s.
Prohlášení

Table of contents

Aptos Is the Coin to Watch Today — $0.82, Up 8.46% in 24 Hours
Aptos (APT) trades at $0.8222, up 8.46% in 24 hours, the largest single-day gain among large-cap layer-1s on Oct. 20. The token has climbed 50.3% from its Sept. 15 close of $0.5496, per CoinGecko data through 19:35 UTC. Bitcoin sits at $82,431, just below $83,000, while APT leads the altcoin tape.

Two supply-and-throughput shifts are behind the move, and neither is a one-day story. On Oct. 12 the network finished its four-year insider and investor unlock, which cut monthly token emissions by roughly 60%. On Oct. 15, Aptos Labs flipped Block-STM v2 on by default. The first event changes how much new APT enters the market; the second changes how much the chain can process.

The move: APT is up 8.46% in 24 hours to $0.8222 and up 50.3% from its Sept. 15 close.
The supply catalyst: the four-year unlock ended Oct. 12, cutting monthly emissions roughly 60%.
The tech catalyst: Block-STM v2 now runs by default, lifting peak throughput to 1,308 TPS.
The risk: stablecoin liquidity on Aptos fell 17.5% to about $910 million — the rally is supply-led, not demand-led.

Market Snapshot: Cross-Coin Comparison, Oct. 20, 19:35 UTC

Asset
Price
24h Change
Market Cap

Bitcoin (BTC)
$82,431
+0.66%
$1.66T

Ethereum (ETH)
$2,430.51
+1.42%
$296.9B

Solana (SOL)
$105.59
+1.58%
$62.3B

Monero (XMR)
$618.57
+4.62%
$11.6B

Zcash (ZEC)
$1,197.42
+6.35%
$20.4B

Aptos (APT)
$0.8222
+8.46%
$726.2M

Prices from CoinGecko, timestamped 19:35 UTC Oct. 20, 2026. APT’s 24-hour range is $0.7507 to $0.8338, so the token is closing the session near its daily high, not fading it.

The Supply Flip: Unlock Ends, Emissions Drop 60%
APT’s price history is a dilution story. The token peaked at $19.92 in January 2023 and now trades 95.87% below that, not because the network failed but because a four-year vesting schedule steadily expanded supply. Circulating supply now stands at 883.2 million APT, with total supply at 1.21 billion and a hard cap of 2.1 billion, per CoinGecko.

That schedule ended on Oct. 12. Monthly emissions dropped from roughly 11.3 million tokens to 4.5 million — a 60% cut — as we covered in Aptos Insider Vesting Ends, Issuance Drops 60%. The math matters. At $0.8222, the removed supply equals 6.8 million tokens a month, or about $5.59 million in monthly sell pressure that no longer needs to be absorbed. Annualized, that is roughly $67 million less new supply at current prices.

The market priced the end of the unlock for weeks, which is the classic pattern: traders front-run a known supply cut. The data shows it. APT closed at $0.5496 on Sept. 15 and at $0.9042 on Oct. 11 before the unlock date, a 64.5% run into the event, then pulled back to $0.7702 by Oct. 18. The 8.46% gain on Oct. 20 is the market re-pricing after the supply event actually cleared.

Block-STM v2 Runs by Default

Block-STM, developed by @AptosLabs researchers, has run parallel execution on Aptos since mainnet. Other chains build on it, and Block-STM v2 now runs by default on Aptos. The idea: run transactions in parallel, redo only what conflicts.

— Aptos (@Aptos) October 15, 2026

The second leg of the catalyst is technical. Block-STM is Aptos’s parallel execution engine — it runs transactions concurrently and re-executes only the ones that conflict, rather than processing the whole block in sequence. Block-STM v2 now runs by default on mainnet, which Aptos Labs frames as a throughput and scalability upgrade. It builds on earlier speed work: Aptos reached sub-50ms block times in late 2025, and Block-STM v2 is the execution-layer follow-through on that promise.

Aptos Labs co-founder Avery Ching put it in supply-side terms. “Dynamic parallelism is based on two things: Block-STM and pipelined infrastructure, both of which we pioneered,” Ching said in the Aptos Foundation’s technical roadmap. “Today, with the arrival of Block-STM v2, we’re reinforcing our commitment to advancing parallelism and scaling Web3.”

On-chain numbers back the upgrade’s immediate effect. Peak transactions per second hit 1,308 after the rollout, with real-time throughput around 174 TPS, according to on-chain data cited in coverage of the launch. The distinction between the theoretical peak and the sustained number is the difference between what the engine can do and what demand actually asks of it — a gap the market has not yet closed. NEAR co-founder Illia Polosukhin, who discussed the upgrade with Aptos Labs’ head of research, summed the technical deep-dive up in three words: “It was a good deep dive.”

Price Levels and Where the Basis Sits

The 30-day chart above, built from CoinGecko data, shows the structure. APT’s late-August low of $0.511 is the floor the whole rally started from — the token is up 60.8% from that level. The Oct. 11 swing high of $0.9042 is the first resistance a sustained move has to clear, and the 24-hour high of $0.8338 is the near-term level to watch.

Support sits at the 24-hour low of $0.7507, which lines up with the Oct. 17-18 consolidation around $0.77 to $0.79. A daily close below $0.75 would invalidate the immediate rebound and reopen the $0.51 range. Above, a confirmed daily close over $0.83 opens the way to retest $0.90.

Put the market-cap math on top of those levels. At $0.8222 and a $726.2 million market cap, a 2x to $1.64 implies a $1.45 billion valuation — a move that is supply-constrained, not demand-constrained, because total supply already sits at 1.21 billion against a 2.1 billion cap. To return to the $19.92 all-time high from January 2023, APT needs a 24x move from here, not the simple price gap the headline suggests. A $1,000 position at $0.8222 buys about 1,216 APT; a return to $2 turns that into about $2,432, and a return to the 2023 peak turns it into about $24,227. Those are the numbers, not a price target.

The Countercase: Liquidity Is Moving the Other Way
Here is where the data disagrees with the price. While APT has rallied, stablecoin liquidity on Aptos has fallen about 17.5% over the same stretch to roughly $910 million, per DefiLlama. DeFi total value locked remains low. That is the tension the data analyst has to name: the price is being carried by a supply reduction, not by an expansion in on-chain usage.

This is the difference between a supply-driven trade and a vote of confidence in the ecosystem. A supply cut raises the price mechanically if demand holds flat — fewer tokens chasing the same dollars. A usage-led rally shows up in stablecoin balances and TVL rising alongside price. Right now the first is true and the second is not yet visible. The 51% four-week figure that has circulated in coverage overstates the case from some trackers; the honest number from CoinGecko’s own close-to-close data is a 50.3% gain from Sept. 15 to Oct. 20, and it has come with liquidity leaving, not arriving.

What to Watch Next
The next observable signals are specific. First, watch the stablecoin balance on DefiLlama: if it stabilizes or turns up while APT holds $0.80, the rally gets a second, demand-driven leg. Second, watch sustained transactions per second after Block-STM v2 has settled — the upgrade only matters if real throughput, not peak throughput, moves higher. Third, watch the next monthly emission print to confirm the 4.5 million-token run rate holds. If APT loses $0.75 on a daily close, the supply story is not enough to hold the price, and the trade unwinds toward the $0.51 base.

Frequently Asked Questions

Why is Aptos (APT) up today?
APT is up 8.46% in 24 hours on the combination of a completed four-year token unlock (which cut monthly emissions roughly 60% from 11.3 million to 4.5 million tokens) and the default rollout of the Block-STM v2 parallel execution engine on Oct. 15.

Is Aptos a good crypto to buy right now?
That depends on the thesis. The supply cut is a real, verifiable tailwind — about $67 million a year less new supply at current prices. The risk is that stablecoin liquidity on Aptos has fallen 17.5% to roughly $910 million, so the price move is supply-driven rather than usage-driven so far.

What is Block-STM v2?
Block-STM is Aptos’s parallel execution engine, which runs transactions concurrently and re-executes only conflicting ones. Block-STM v2 now runs by default on mainnet, aiming to increase throughput while handling dependencies more efficiently.

How much has Aptos gained in a month?
APT has gained about 50.3% from its Sept. 15 close of $0.5496 to $0.8222 on Oct. 20, per CoinGecko data. It remains about 95.9% below its January 2023 all-time high of $19.92.

What price level matters for APT next?
$0.75 is the near-term support (the 24-hour low and the Oct. 17-18 consolidation), and $0.83 is the first resistance from the Oct. 11 swing high of $0.90. A daily close below $0.75 would invalidate the rebound; a daily close above $0.83 opens a retest of $0.90.

Prices and market data are from CoinGecko and DefiLlama as of 19:35 UTC on Oct. 20, 2026. The author holds no position in APT.

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

,

Osaka, Japan and Papeete, Tahiti, French Polynesia, become the eighth and ninth long-haul intercontinental routes added to Alaska Airlines and Hawaiian Airlines' growing global network from Seattle and advance Alaska Accelerate, the company's mission to connect the Pacific Northwest with more destinations around the world.
The combined airline will offer the only nonstop service between Seattle and Osaka and Papeete, with Hawaiian Airlines serving the routes beginning next spring.
Guests traveling aboard Hawaiian Airlines' Airbus A330 fleet will enjoy the signature Hawaiian hospitality they know and love, paired with a premium experience, including free Starlink Wi-Fi for Atmos™ Rewards members, thanks to T-Mobile.
To celebrate the two new routes, the airline is offering special introductory round-trip Main Cabin fares to both destinations, subject to availability.
/PRNewswire/ -- Alaska Airlines and Hawaiian Airlines are broadening its global network with new year-round, nonstop service between Seattle and Osaka, Japan, and Papeete, Tahiti, French Polynesia, bringing two new international destinations within easy reach of guests across the continental U.S. 

Alaska Airlines and Hawaiian Airlines will offer the only nonstop service between Seattle and Osaka and Papeete when the new routes launch next spring.

The airline will offer the only nonstop service between Seattle-Tacoma International Airport and Osaka and Papeete when the routes launch next spring, with convenient connections from cities across Alaska Airlines and Hawaiian Airlines' combined network. In celebration of the new routes, the airline is offering special introductory fares to both destinations. Starting today through Oct. 26, round-trip Main Cabin fares from Seattle start at $999 to Papeete and $1,199 to Osaka, subject to availability. Tickets are on sale now at alaskaair.com and hawaiianairlines.com. All new routes are subject to government approval. Terms and conditions apply.

The routes advance Alaska Accelerate, a long-term plan designed to evolve into a more global, premium and diversified airline, including transforming Seattle into a global gateway serving at least 15 long-haul intercontinental destinations by 2030. Osaka and Papeete join the airline's growing Seattle long-haul network, including London, Tokyo, Seoul, Rome and Reykjavík, as well as newly announced nonstop routes to Athens and Paris. Alaska's main hub in Seattle is already the largest airline hub on the West Coast, serving 103 nonstop destinations across North America.

"We are building an airline that connects the Pacific Northwest to more of the world and we know our guests will be excited to have convenient access to Osaka and Papeete from Seattle," said Ben Minicucci, President and CEO of Alaska Air Group. "We're just getting started, with more international destinations on the horizon as we grow as the leading global airline on the West Coast."

For years, Hawaiian Airlines has connected Honolulu with Osaka and Papeete, and now the airline will expand its reach to both cities from Seattle. By serving these destinations from Honolulu and Seattle, Hawaiian will create even more opportunities for guests across the combined network to explore Asia and Oceania. The Seattle global expansion complements Hawaiian Airlines' international service from Honolulu -- Alaska's second-largest hub -- to Tokyo and Osaka, and destinations across Oceania including Pago Pago, Rarotonga, Papeete, and Sydney.

Both routes will be served on Hawaiian Airlines Airbus A330 aircraft, offering a comfortable, premium widebody experience for long-haul flying, including lie-flat business class Suites and free high-speed Starlink Wi-Fi, alongside the airline's signature onboard hospitality. 

Seattle to Osaka, Japan

Beginning May 14, 2027, the airline's new, four-times-weekly nonstop service between Seattle and Osaka offers convenient connections between Japan and destinations across Alaska's expansive domestic network, including the shortest connecting path to Osaka from many points across the network. Known for its celebrated food culture, bustling business scene and central location in Japan's Kansai region, Osaka offers guests access to a wider region that includes Kyoto, Nara and Kobe.

Hawaiian Airlines has served Osaka from Honolulu since 2011, fostering a longstanding connection between Hawai'i and Japan. Hawaiian will continue to serve the route, giving guests the flexibility to travel nonstop from Seattle or connect through Honolulu.

"We are delighted to welcome the launch of Alaska Airlines' new Seattle service. We are especially pleased that Kansai International Airport has been selected as the airline's third destination in Asia," said Fabien Gourdon, Corporate Executive Vice President, CCO-Aeronautical of Kansai Airports. "Kansai Airports has been working to expand its network to North America, and we are truly grateful and delighted to welcome Alaska Airlines, whose service to KIX we have long looked forward to. We hope that this new nonstop connection between Kansai and Seattle will further strengthen both tourism and business ties between Kansai and North America."

Seattle to Papeete, Tahiti

Located in French Polynesia on the island of Tahiti, Papeete is a gateway to the region's islands featuring dramatic volcanic landscapes and stunning beaches. The new nonstop service will operate three times a week starting June 11, 2027, and will offer guests convenient one-stop access from across the U.S., including some cities that currently require two or more stops to reach Tahiti. The combined airline will also be the only U.S. airline with same-day connections from Papeete to Bora Bora and Moorea, allowing guests to reach these popular islands without an overnight stop in Tahiti.

Hawaiian Airlines first began serving Papeete from Honolulu in 1987, bringing together Hawai'i with French Polynesia for nearly four decades. With Hawaiian continuing its Honolulu to Papeete service, guests will have even more options for reaching Tahiti, whether traveling directly from Seattle or connecting through Honolulu.

The Hawaiian Airlines-branded Seattle–Papeete route will operate as flight AS987, a nod to French Polynesia's five-digit postal codes that begin with 987.

"As Hawaiian Airlines celebrates 40 years of connecting Hawai'i and French Polynesia, Tahiti Tourisme is pleased to welcome this new milestone in our shared Pacific story. The integration of Hawaiian Airlines into Alaska Airlines' extensive network creates new opportunities to connect a broader and more diverse range of North American travelers with The Islands of Tahiti," said Vaihere Lissant, CEO of Tahiti Tourisme. "Beyond greater connectivity, this new service is an invitation to discover Tahiti itself, a vibrant cultural capital, and to explore the remarkable diversity of our five archipelagos, including islands beyond our best-known destinations."

Through the airline's expanded partnership with Air Tahiti, guests will have access to convenient same-day connections to Rarotonga, adding more opportunities to travel between Seattle and the Cook Islands alongside Hawaiian Airlines' weekly nonstop service between Honolulu and the South Pacific island.

A superior premium experience

Guests traveling between Seattle and Osaka or Papeete will fly aboard a Hawaiian Airlines-branded Airbus A330 aircraft and can look forward to a premium guest experience, including:

Ultra-fast Starlink Wi-Fi, complimentary thanks to T-Mobile for Atmos Rewards members
Spacious, lie-flat business class Suites seating, with pre-departure beverages, mid-flight snack and multicourse dining featuring chef-curated Asia-Pacific cuisine
Travel amenity kits in partnership with the Hawaiʻi lifestyle brand Noho Home for guests seated in the Suites experience and Premium Class
Nearly 200 new releases and classic movies and more than 500 TV shows to stay entertained
Dedicated check-in and Alaska Lounge access for Suites guests traveling through Seattle-Tacoma International Airport
As Alaska Airlines and Hawaiian Airlines continue to invest in the guest experience, Hawaiian's Airbus A330 fleet is set to receive new interiors beginning in 2028, bringing an enhanced onboard experience to long-haul journeys. The refresh will include investments in more modern, premium seating, a full cabin retrofit, and onboard products and amenities. 

Routes

Aircraft

Start
date

Departure

Arrival

Frequency

Seattle (SEA) -
Osaka (KIX)

A330-200

May 14, 2027 

12:10 p.m.

4 p.m.

4x weekly (Mon., Wed.,
Fri., Sun.), year-round

Osaka (KIX) -

Seattle (SEA)

A330-200

May 15, 2027

6 p.m.

12:20 p.m.

4x weekly (Mon., Tue.,
Thur., Sat.), year-round

Seattle (SEA) -
Papeete (PPT)

A330-200

June 11, 2027

11:55 p.m.

7:20 a.m.

3x weekly (Wed., Fri.,
Sat.), year-round

Papeete (PPT) - Seattle (SEA)

A330-200

June 12, 2027

5 p.m.

6 a.m.

3x weekly (Thur., Sat.,
Sun.), year-round

Schedules subject to change and government approval 

FAQs
Is there a nonstop flight from Seattle to Osaka, Japan?
Yes. Beginning May 14, 2027, Hawaiian Airlines will offer year-round nonstop service between Seattle (SEA) and Osaka (KIX), operating four times a week. 

Is there a nonstop flight from Seattle to Tahiti?
Yes. Beginning June 11, 2027, Hawaiian Airlines will offer year-round nonstop service between Seattle (SEA) and Papeete, Tahiti (PPT), operating three times a week. The route will be served by Hawaiian Airlines and will provide convenient access to French Polynesia, including same-day connections to Bora Bora and Moorea.

What aircraft will Alaska Airlines and Hawaiian Airlines use for its Seattle flights to Osaka and Papeete?
The new Seattle-Osaka and Seattle-Papeete routes will be served by Hawaiian Airlines, aboard its Airbus A330 fleet. Guests can enjoy lie-flat Business Class Suites, Starlink Wi-Fi complimentary to Atmos Rewards Members thanks to T-Mobile, and Hawaiian's signature hospitality.

About Alaska, Hawaiian and Horizon

Alaska Airlines, Hawaiian Airlines and Horizon Air are subsidiaries of Alaska Air Group, and McGee Air Services is a subsidiary of Alaska Airlines. We are a global airline with hubs in Seattle, Honolulu, Portland, Anchorage, Los Angeles, San Diego and San Francisco. We deliver remarkable care as we fly our guests to more than 140 destinations throughout North America, Latin America, Asia, the Pacific and Europe. Guests can book travel at alaskaair.com and hawaiianair.com. Alaska and Hawaiian are members of the oneworld© alliance. Members of our Atmos™ Rewards loyalty program can earn and redeem points with oneworld airlines and our additional global partners that serve over 1,100 worldwide destinations. Learn more about what's happening at Alaska and Hawaiian at news.alaskaair.com. Alaska Air Group is traded on the New York Stock Exchange (NYSE) as "ALK."

SOURCE Alaska Airlines

Sui [SUI] climbed back above $1 on October 20, trading near $1.0227 after bouncing from recent lows around the $0.94–$0.95 price area. The token was up 2.44% at the time of this writing.

The rebound gives buyers another chance to challenge $1.05, a level that an analyst identified as important for a turnaround. However, SUI remains below that level, leaving its recovery incomplete.

Van de Poppe sees a possible end to the pullback
In a post on October 20 on X, van de Poppe suggested SUI might have completed its correction. He pointed to a decline from around $1.25 to $0.95, which is about 24%.

While he acknowledged the continued selling pressure that SUI was seeing on shorter timeframes, he identified that a break above the $1.05 price area is key to a potential reversal.

The latest charts show progress toward that test. Buyers have recovered the $1 level, but with its recent  moves, it still sits within the wider decline from early October.

Source: Michaël van de Poppe on X
This is important because a bounce from the lows will bring an early improvement, while a lasting recovery requires buyers to overcome areas where previous advances did not succeed.

The next test sits just above the current price
The immediate hurdle it needs to cross lies around the $1.04–$1.05 price area. SUI reached around $1.0413 during the current daily session before easing back, showing that buyers had already approached this area.

If it is able to remain above the $1.05 price level, it would strengthen the recovery case. It could bring the next price levels near the $1.09 and $1.125 price areas into focus, although reaching them would depend on if buying continues.

Source: TradingView
If it sees a pullback, the $0.98–$1.00 price level is the nearest area to watch, but if it holds, it would help preserve the rebound. But losing it could take it back toward the $0.94–$0.95 price area.

Samsung rollout remains a separate development
Samsung recently announced that Sui was among the networks supporting its planned Samsung Wallet stablecoin service.

This is scheduled for the last week of October and will first support USDC for eligible U.S. users. Samsung’s cited reach of 82 million compatible Galaxy devices

Final Summary

SUI regained $1 and traded near $1.0227, but remained below the $1.05 recovery hurdle.
Holding $0.98–$1.00 would support stabilization, but renewed weakness might make take it back to its lows.

-

AI-first solution bridges workflow coordination gaps and accelerates technology transfer from early discovery through development and manufacturingMulti-tier execution, centralized data and real-time monitoring capabilities improve visibility and traceability, designed to adhere to complex regulatory and quality requirementsUnified laboratory ecosystem drives innovation across pharma, biotech, specialty chemical and materials sciences through coordinated scientific workflows WALTHAM, Mass.--(BUSINESS WIRE)--Revvity, Inc. (NYSE: RVTY), announced that its Revvity Signals Software business is launching the Signals LabGistics™ solution, an AI-first, scientific workflow orchestration solution designed to connect and coordinate processes, workflows, and tasks from discovery to manufacturing.

The Signals LabGistics offering uses AI-powered workflow design to translate natural-language descriptions and standard operating procedures into coordinated scientific workflows. As pharmaceutical, biotechnology, and specialty chemicals organizations pursue increasingly complex innovations – from novel therapeutics to advanced material formulations – fragmented systems and manual handoffs slow scientific progress, especially during tech transfer from R&D to manufacturing. The Signals LabGistics solution provides an intelligent orchestration layer that helps organizations connect teams, systems and processes to execute workflows more seamlessly. By connecting real-time data and insights in a single digital environment, the solution helps contextualize decision-making and continuously improve scientific processes.

“Scientific innovation is increasingly dependent on the ability to coordinate work across people, systems and stages of development,” said Kevin Willoe, president of Revvity Signals Software. “Our Signals LabGistics offering brings those moving parts together and helps organizations move promising therapies and new products forward with greater speed, consistency and confidence.”

In addition to operating within the broader Revvity Signals Software ecosystem, the Signals LabGistics solution is designed to work within existing laboratory and manufacturing platforms and extend to adjacent systems over time. This, along with capabilities for multi-tier execution and real-time monitoring, helps improve the flow of information, samples and activities across independent teams. Scientists and managers can then better understand workflow status, identify emerging bottlenecks and respond before delays affect broader development timelines.

The Signals LabGistics solution also offers flexible compliance and quality capabilities tailored to unique industry requirements. These capabilities can support pharmaceutical and biotechnology organizations that need to maintain GxP compliance across connected environments, or specialty chemicals organizations and materials science companies looking to minimize additional regulatory overhead.

The Signals LabGistics solution is expected to be available in the United States, Canada, Europe and Japan in December 2026.

About Revvity

At Revvity, “impossible” is inspiration, and “can’t be done” is a call to action. Revvity provides health science solutions, technologies, expertise, and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what’s possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more.

With 2025 revenue of $2.9 billion and approximately 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 160 countries.

Stay updated by following our Newsroom, LinkedIn, X, YouTube, Facebook and Instagram.

More News From Revvity

Back to Newsroom

EUR/JPY halts its four-day winning streak, trading around 177.70 during Asian hours on Tuesday. Technical analysis of the daily chart shows the currency cross remains within a descending channel pattern, suggesting an ongoing bearish bias.

The EUR/JPY cross is consolidating between short-term support and medium-term resistance. The currency cross holds just above the nine-day Exponential Moving Average (EMA) at 177.54, while the 50-day EMA at 179.84 caps the topside and keeps the broader bias neutral rather than decisively bullish. The 14-day Relative Strength Index (RSI) at 42.59 sits below the midline, hinting at modestly soft momentum but not outright oversold conditions.

The EUR/JPY cross tests the immediate support at the nine-day EMA of 177.54. A successful break below the short-term price average would strengthen the bearish bias and put downward pressure on the currency cross to test the 11-month low of 175.70, which was recorded in November 2025, followed by the lower boundary of its descending channel around 175.60. If selling pressure intensifies and pushes the currency cross below this confluence support zone, further declines could expose the 14-month low at 169.72.

On the upside, the primary resistance lies at the upper boundary of the descending channel near 178.70, followed by the 50-day EMA of 179.84. A move above the medium-term price average would cause a bullish reversal, opening the doors for the EUR/JPY cross to approach the all-time high of 187.95, reached on April 17.

BoJ’s Ueda flags inflation near target as price pressures buildAnalysts at Danske Bank highlight that in Japan, BoJ Governor Kazuo Ueda now judges underlying inflation to be "quite close" to the 2% target, pointing to tight labour markets and strong global AI demand as key sources of price pressure.

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 weakest against the Australian Dollar.

USDEURGBPJPYCADAUDNZDCHFUSD0.05%0.07%0.00%0.03%-0.28%0.17%0.15%EUR-0.05%-0.05%-0.05%-0.01%-0.28%0.07%0.05%GBP-0.07%0.05%-0.02%-0.02%-0.23%0.12%0.10%JPY0.00%0.05%0.02%0.03%-0.18%0.14%0.13%CAD-0.03%0.01%0.02%-0.03%-0.22%0.13%0.11%AUD0.28%0.28%0.23%0.18%0.22%0.35%0.32%NZD-0.17%-0.07%-0.12%-0.14%-0.13%-0.35%-0.01%CHF-0.15%-0.05%-0.10%-0.13%-0.11%-0.32%0.01% 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).

SummaryMonolithic Power Systems is upgraded to a Buy with a new price target of $1,686, reflecting robust segment outperformance.Enterprise Data and Communications segments drove H1 2026 revenue growth of 37.1%, far exceeding prior forecasts and offsetting weakness in Storage, Computing, and Consumer.Enterprise Data surged 132.4% in H1, with management raising full-year growth floor to 130%, driven by data center demand and increasing content per AI server.DCF valuation is based on a revised 5-year forward average revenue growth of 36.4%, up from 24%, primarily due to strength in Enterprise Data and Communications. zhongguo/E+ via Getty Images

By Anthony Goh, Senior Investment Research Analyst @ Khaveen Investments

In our previous analysis, we covered Monolithic Power Systems (MPWR) and highlighted its strong growth across its segments and an impressive recovery in

8.65K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MPWR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Khaveen Investments is registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration with the U.S. SEC does not imply a certain level of skill or training. No information in this publication is intended as investment, tax, accounting, or legal advice, or as an offer/solicitation to sell or buy. Material provided in this publication is for educational purposes only and was prepared from sources and data believed to be reliable, but we do not guarantee its accuracy or completeness.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The chip manufacturing joint venture between SpaceX (SPCX.O) and Tesla (TSLA.O) called Terafab aims to ‌reach volume production by the third quarter of 2028, Elon Musk said on a SpaceX conference call on Tuesday.

"I put big error bars on this because we don't know if we will actually achieve this or not," Musk said, referring to the timeline.

The timeline is a rough schedule ​for a project that aims to produce 1 terawatt a year of computing power for AI and robotics, on ​a schedule Musk himself called "very aggressive." In the United States, cutting-edge logic factories can take ⁠three or more years to build.

Musk has described the planned complex in Texas as combining advanced manufacturing, packaging and testing ​of both advanced logic and memory chips in one facility.

On Tuesday, Musk said that internally, Terafab aims to have a first ​test chip, using static random-access memory (SRAM) circuits, functional in roughly May or June of next year at the Terafab research facility in Austin.

Chip manufacturers commonly fabricate SRAM circuits as a method of refining manufacturing process development.

MUSK CAUTIONS ON AMBITIOUS DATES
Musk has a history of setting timelines that his ​companies have missed. The SpaceX CEO described the Terafab timeline as the company's aspiration and said the dates are "very aggressive."

"Let's ​just say that outcome of achieving volume production is at least in the set of possible outcomes for Q3 or Q4 of '28," Musk ‌said. "So these ⁠are obviously like insanely fast time frames for chip production."

EQUIPMENT ACQUISITION CHALLENGE
On the SpaceX conference call, a sell-side analyst asked Musk whether SpaceX had placed orders for the extreme ultraviolet (EUV) lithography machines produced only by the Dutch company ASML. The EUV machines are necessary to produce the most cutting-edge chips made by Nvidia (NVDA.O) and Advanced Micro Devices (AMD.O).

Musk did not answer the question directly and ​said, "Now these were very aggressive ​dates, and we're very ⁠appreciative of ASML and all of our other suppliers in accelerating equipment deliveries in order to achieve this outcome."

One of the challenges Terafab faces is acquiring enough of the complex, expensive ​semiconductor manufacturing equipment from ASML or American suppliers such as Applied Materials (AMAT.O) and KLA (KLAC.O).

Intel (INTC.O) said in ​April that it ⁠would join the Terafab project to help accelerate Terafab's goals. Intel also posted a photo of CEO Lip-Bu Tan and Musk shaking hands, saying it hosted the world's richest man at its campus that month. The companies have not revealed how the collaboration would ⁠function in ​practice.

Earlier this month, Musk said there had been discussions about potential cooperation with ​Taiwan Semiconductor Manufacturing Company (2330.TW), the world's largest advanced chip manufacturer. But Musk later said Terafab is committed to running the facility itself.

Reported loss per share of ($1.32), and adjusted earnings per share, excluding certain tax impacts, of $0.36

Announced intent to join the Atlantic and Pacific Joint International Businesses with oneworld and global partners

New service to Osaka and Papeete expands Seattle's nonstop international network to 9 of 15 planned routes by 2030

, /PRNewswire/ -- Alaska Air Group (NYSE: ALK) today reported financial results for the third quarter ending September 30, 2026.

"At Investor Day, we laid out a clear strategy for building a stronger, more diversified business, and we're executing it: growing premium, international, cargo and Atmos Rewards, and investing in the guest experience," said Alaska Air Group CEO Ben Minicucci. "Those are the things that earn guest loyalty, diversify our revenue and ultimately drive stronger earnings. While we're not satisfied with this quarter's result or the $1.8 billion fuel headwind this year, we are confident in our ability to execute on the things we can control, including increasing the spread between unit revenue and unit costs excluding fuel."

Quarter in Review:

Air Group reported third quarter Generally Accepted Accounting Principles (GAAP) pretax margin of 0.4% and GAAP net loss of ($147) million, or ($1.32) per share. Air Group's third quarter adjusted pretax margin was 1.1% and adjusted net loss was ($35) million, or ($0.31) per share. Excluding certain tax impacts, Air Group's third quarter adjusted net income was $49 million, or $0.36 per share.

Q3 2026 Results

Prior Expectation

Actual Results

Capacity (ASMs) % change versus 2025

Up 2% to 3%

Up 2.4%

RASM % change versus 2025

Up low double digits

Up 11.7%

CASMex % change versus 2025

Up low to mid single digits

Up 4.4%

Economic fuel cost per gallon

$3.75

$3.94

Adjusted earnings per share, excluding certain tax impacts(a)

$0.00 to $1.00

$0.36

(a) These results reflect a Q3 adjusted effective tax rate of 18.4%, or adjusted tax expense of $9 million, versus our original guidance assumption of approximately 35% due to the AETR revision discussed below.

Third quarter results were driven by strong underlying commercial momentum despite a significant fuel headwind. Revenue increased 14% year-over-year to $4.3 billion on 2.4% capacity growth, resulting in unit revenue growth of nearly 12%, despite  Hawaiʻi headwinds, pressure from strategic growth markets investments, and rapid international expansion. Yield improved through the quarter, with September yield increasing approximately 17% year-over-year.

Air Group's diversified revenue, which represents operating revenue outside the main cabin, has grown to 54% of total revenue, reflecting progress against our strategic initiatives as we shift towards a more structurally resilient business. Premium revenue grew approximately 25% and represented more than 36% of total revenue, loyalty program cash remuneration grew 21% to $721 million, and managed corporate revenue increased 30%. Air Group continued to expand its international network, with the additions of Paris, Athens, Osaka, and Papeete, bringing our Seattle international network to nine routes.

During the third quarter, the Company reduced its estimated annual effective tax rate (AETR) following a change in its full-year outlook from pretax income to a pretax loss, driven primarily by elevated fuel prices. As a result, the Company recorded a cumulative catch-up adjustment related to tax benefits recognized on first-half losses, which reduced third quarter adjusted earnings per share by ($0.67). Excluding this adjustment, third quarter adjusted earnings per share were $0.36.

Fourth Quarter Forecast Information:

Looking ahead, demand remains healthy, with commercial momentum continuing into the fourth quarter. Air Group expects capacity to grow approximately 1% to 1.5% year-over-year, with the increase concentrated in international flying. Unit revenue is expected to increase in the low double digits year-over-year and improve sequentially on a gross basis, supported by continued yield strength. Non-fuel unit costs are expected to increase in the mid-single digits, reflecting lower capacity growth.

Elevated fuel costs are expected to remain a significant headwind to near-term profitability, with our guidance assuming a fourth quarter economic fuel cost of $4.65 to $4.85 per gallon, or $650 million higher than our initial plan. For the full year, we now expect an adjusted loss per share between ($5.50) and ($5.00), inclusive of $1.8 billion in fuel expense above our plan.

Q4 2026 Expectation

Capacity (ASMs) % change versus 2025

Up 1% to 1.5%

RASM % change versus 2025

Up low double-digits

CASMex % change versus 2025

Up mid single-digits

Economic fuel cost per gallon

$4.65 to $4.85

Adjusted loss per share(a)

($2.50) to ($2.00)

(a) Q4 loss per share guidance assumes non-operating expense of approximately $70 million, a tax rate of approximately 20%, and shares outstanding of approximately 112.5 million.

Commercial Updates:

Announced intent to join the Atlantic and Pacific Joint International Businesses with oneworld and global partners, broadening international connectivity for guests and increasing access to premium worldwide travel opportunities.
Unveiled Aurora and Leihōkū by Alaska and Hawaiian, new premium guest experiences designed to elevate travel, featuring spacious lie flat suites, access to exclusive check-in and concierge services, and elevated dining options. Aurora will be featured on Alaska's Boeing 787 fleet and select transcontinental routes operated by new 737-10 MAX aircraft, while Leihōkū will be featured on Hawaiian's A330 fleet.
Introduced Premium Reserve, a new premium economy product set to debut in 2028 on Alaska's 787-9, 787-10 and select 737-10 MAX aircraft and on Hawaiian's A330 fleet, offering guests enhanced comfort, space, and choice on longer flights.

Loyalty Updates:

Loyalty program cash remuneration grew 21% to $721 million in the third quarter.
Beginning in October, Atmos Rewards members can choose how they earn points and status points - by distance traveled, price paid, or segments flown - on flights departing on or after January 1, 2027.
Announced enhancements to Atmos Rewards, including expanded card offerings with the launch of an Atmos debit card in early 2027, four new Atmos communities, and additional program partnerships.
Launched new and improved benefits for Huakaʻi by Hawaiian members, including two free checked bags for Neighbor Island travel and additional ways to earn Atmos Rewards points.

Network Updates:

Announced new nonstop service from Seattle to Athens, Paris, Osaka, and Papeete beginning in spring 2027, further strengthening our position as Seattle's largest international carrier.
Announced domestic route expansions, including new routes from Portland to Steamboat Springs, San Diego to Loreto, Mexico and Paine Field to San Jose, alongside increased service from Paine Field to Portland, San Diego and Los Angeles.

Liquidity Updates:

Generated $755 million of operating cash flow during the first nine months of 2026.
Held $3.3 billion in available liquidity, including unrestricted cash, marketable securities, and undrawn credit facilities.
Had approximately $20 billion of unencumbered assets at September 30, 2026, including 134 aircraft and the unencumbered portion of our loyalty program assets.

Other Highlights:

Amaresh Siva named Alaska's Chief Information Technology Officer, joining the company from CVS Health. Siva will serve on the company's Executive Committee.
Alaska Airlines and Hawaiian Airlines were recognized with the 2026 APEX Five Star Major Airline Award.
Alaska Airlines recognized by the Skytrax World Airline Awards as the #1 Cleanest Airline in North America and the #2 Best Regional Airline in North America.
SVP of Merchandising and Innovation Charu Jain was recognized as one of Time's 2026 Tech and Data Executives of the Year.

A conference call regarding the third quarter results will be streamed online at 11:30 a.m. EDT/ 8:30 a.m. PDT on October 21, 2026. It can be accessed at www.alaskaair.com/investors. For those unable to listen to the live broadcast, a replay will be available after the conclusion of the call.

References in this update to "Air Group," "Company," "we," "us," and "our" refer to Alaska Air Group, Inc. and its subsidiaries, unless otherwise specified.

This news release may contain forward-looking statements subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. These statements relate to future events and involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different from those indicated by our forward-looking statements, assumptions or beliefs. For a discussion of risks and uncertainties that may cause our forward-looking statements to differ materially, see Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Some of these risks include competition, labor costs, relations and availability, general economic conditions, increases in operating costs including fuel, uncertainties regarding the ability to successfully integrate operations following the acquisition of Hawaiian Holdings, Inc. and the ability to realize anticipated cost savings, synergies, or growth from the acquisition, inability to meet cost reduction and other strategic goals, seasonal fluctuations in demand and financial results, supply chain risks, events that negatively impact aviation safety and security, cybersecurity risks, and changes in laws and regulations that impact our business. All of the forward-looking statements are qualified in their entirety by reference to the risk factors discussed in our most recent Form 10-K and in our subsequent SEC filings. We operate in a continually changing business environment, and new risk factors emerge from time to time. Management cannot predict such new risk factors, nor can it assess the impact, if any, of such new risk factors on our business or events described in any forward-looking statements. We expressly disclaim any obligation to publicly update or revise any forward-looking statements made today to conform them to actual results. Over time, our actual results, performance or achievements may differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, assumptions or beliefs and such differences might be significant and materially adverse.

Alaska Airlines, Hawaiian Airlines and Horizon Air are subsidiaries of Alaska Air Group, and McGee Air Services is a subsidiary of Alaska Airlines. We are a global airline with hubs in Seattle, Honolulu, Portland, Anchorage, Los Angeles, San Diego and San Francisco. We deliver remarkable care as we fly our guests to more than 140 destinations throughout North America, Latin America, Asia, the Pacific and Europe. Guests can book travel at alaskaair.com and hawaiianairlines.com. Alaska and Hawaiian are members of the oneworld alliance. Members of our Atmos Rewards loyalty program can earn and redeem points with oneworld airlines and our additional global partners that serve over 1,100 worldwide destinations. Learn more about what's happening at Alaska and Hawaiian at news.alaskaair.com. Alaska Air Group is traded on the New York Stock Exchange (NYSE) as "ALK."

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Alaska Air Group, Inc.

Three Months Ended September 30,

Nine Months Ended September 30,

(in millions, except per share amounts)

2026

2025

Change

2026

2025

Change

Operating Revenue

Passenger revenue

$    3,885

$     3,424

13 %

$   10,449

$     9,587

9 %

Loyalty program other revenue

263

200

32 %

748

617

21 %

Cargo and other revenue

160

142

13 %

476

403

18 %

Total Operating Revenue

4,308

3,766

14 %

11,673

10,607

10 %

Operating Expenses

Wages and benefits

1,287

1,226

5 %

3,768

3,518

7 %

Variable incentive pay

68

71

(4 %)

163

194

(16 %)

Aircraft fuel

1,214

761

60 %

3,315

2,142

55 %

Aircraft maintenance

257

238

8 %

729

698

4 %

Aircraft rent

66

64

3 %

191

190

1 %

Landing fees and other rentals

333

305

9 %

929

825

13 %

Contracted services

163

151

8 %

472

442

7 %

Selling expenses

118

107

10 %

332

312

6 %

Depreciation and amortization

216

203

6 %

627

596

5 %

Food and beverage service

110

100

10 %

312

282

11 %

Third-party regional carrier expense

71

72

(1 %)

195

205

(5 %)

Other

298

256

16 %

903

764

18 %

Special items - operating

25

64

(61 %)

102

211

(52 %)

Total Operating Expenses

4,226

3,618

17 %

12,038

10,379

16 %

Operating Income (Loss)

82

148

(45 %)

(365)

228

NM

Non-operating Income (Expense)

Interest income

22

23

(4 %)

62

71

(13 %)

Interest expense

(97)

(70)

39 %

(259)

(202)

28 %

Interest capitalized

14

8

75 %

37

29

28 %

Other - net

(3)

2

NM

12

(10)

NM

Total Non-operating Expense

(64)

(37)

73 %

(148)

(112)

32 %

Income (Loss) Before Income Tax

18

111

(513)

116

Income tax expense (benefit)

165

38

(97)

37

Net Income (Loss)

$     (147)

$        73

$     (416)

$        79

Basic Earnings (Loss) Per Share

$     (1.32)

$      0.63

$     (3.70)

$      0.66

Diluted Earnings (Loss) Per Share

$     (1.32)

$      0.62

$     (3.70)

$      0.65

Weighted Average Shares Outstanding used for
computation:

Basic

111.611

115.287

112.334

119.061

Diluted

111.611

117.500

112.334

121.193

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
Alaska Air Group, Inc.

(in millions, except share amounts)

September
30, 2026

December
31, 2025

ASSETS

Cash and cash equivalents

$       835

$       627

Restricted cash

34

28

Marketable securities

1,396

1,496

Receivables - net

656

565

Inventories and supplies - net

249

203

Prepaid expenses

234

278

Other current assets

37

69

Total Current Assets

3,441

3,266

Property and equipment - net of accumulated depreciation and amortization of $5,377 and $4,945

12,280

11,857

Operating lease assets

1,325

1,268

Goodwill

2,723

2,723

Intangible assets - net of accumulated amortization of $116 and $74

773

815

Other noncurrent assets

487

432

Total Noncurrent Assets

17,588

17,095

Total Assets

$    21,029

$    20,361

LIABILITIES AND SHAREHOLDERS' EQUITY

Accounts payable

$       443

$       324

Accrued wages, vacation and payroll taxes

853

881

Air traffic liability

2,129

1,689

Other accrued liabilities

1,154

1,055

Deferred revenue

1,854

1,722

Current portion of long-term debt and finance leases

890

721

Current portion of operating lease liabilities

222

197

Total Current Liabilities

7,545

6,589

Long-term debt and finance leases, net of current portion

5,269

4,834

Operating lease liabilities, net of current portion

1,138

1,141

Deferred income taxes

909

1,004

Deferred revenue

1,690

1,711

Obligation for pension and post-retirement medical benefits

324

369

Other liabilities

624

595

Total Noncurrent Liabilities

9,954

9,654

Shareholders' Equity

Preferred stock, $0.01 par value, Authorized: 5,000,000 shares, none issued or outstanding

—

—

Common stock, $0.01 par value, Authorized: 400,000,000 shares, Issued: 2026 - 147,152,378
shares; 2025 - 145,115,659 shares, Outstanding: 2026 - 111,631,476 shares; 2025 - 115,530,889
shares

1

1

Capital in excess of par value

1,053

961

Treasury stock (common), at cost: 2026 - 35,520,902 shares; 2025 - 29,584,770 shares

(1,951)

(1,701)

Accumulated other comprehensive loss

(187)

(173)

Retained earnings

4,614

5,030

Total Shareholders' Equity

3,530

4,118

Total Liabilities and Shareholders' Equity

$    21,029

$    20,361

SUMMARY CASH FLOW (unaudited)

Alaska Air Group, Inc.

(in millions)

Nine Months
Ended September
30, 2026

Six Months Ended
June 30, 2026(a)

Three Months
Ended September
30, 2026(b)

Cash Flows from Operating Activities:

Net Loss

$               (416)

$               (269)

$               (147)

Adjustments to reconcile net loss to net cash provided by
operating activities

691

453

238

Changes in working capital

480

422

58

Net cash provided by operating activities

755

606

149

Cash Flows from Investing Activities:

Property and equipment additions

(965)

(523)

(442)

Other investing activities

73

(112)

185

Net cash used in investing activities

(892)

(635)

(257)

Cash Flows from Financing Activities:

367

472

(105)

Net increase (decrease) in cash and cash equivalents

230

443

(213)

Cash, cash equivalents, and restricted cash at beginning of
period

684

684

1,127

Cash, cash equivalents, and restricted cash at end of the
period

$                914

$              1,127

$                914

Reconciliation of cash, cash equivalents, and restricted
cash:

Cash and cash equivalents

$                835

$              1,064

Restricted cash

34

33

Restricted cash included in Other noncurrent assets

45

30

Total cash, cash equivalents, and restricted cash at end of
the period

$                914

$              1,127

(a) As reported in Form 10-Q for the second quarter of 2026.

(b) Cash flows for the three months ended September 30, 2026 can be calculated by subtracting cash flows from the six months ended June 30, 2026 from the nine months ended September 30, 2026.

OPERATING STATISTICS (unaudited)

A manual recalculation of certain figures using rounded amounts may not agree directly to the actual figures presented in the
table below.

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

Change

2026

2025

Change

Consolidated Operating Statistics:(a)

Revenue passengers (000)

15,706

15,879

(1.1) %

44,095

44,272

(0.4) %

RPMs (000,000) "traffic"

20,733

20,739

— %

58,045

58,174

(0.2) %

ASMs (000,000) "capacity"

25,031

24,447

2.4 %

70,907

69,724

1.7 %

Load factor

82.8 %

84.8 %

(2.0) pts

81.9 %

83.4 %

(1.5) pts

Yield

18.73¢

16.51¢

13.4 %

18.00¢

16.48¢

9.2 %

PRASM

15.52¢

14.00¢

10.9 %

14.74¢

13.75¢

7.2 %

RASM

17.21¢

15.41¢

11.7 %

16.46¢

15.21¢

8.2 %

CASMex(b)

11.46¢

10.98¢

4.4 %

11.71¢

11.08¢

5.7 %

Fuel cost per gallon(c)

$3.94

$2.51

57.0 %

$3.81

$2.50

52.4 %

Fuel gallons (000,000)(c)

308

303

1.7 %

870

859

1.3 %

ASMs per gallon

81.3

80.6

0.9 %

81.5

81.1

0.5 %

Departures (000)

146.0

144.0

1.4 %

410.6

407.4

0.8 %

Average full-time equivalent employees
(FTEs)

32,171

32,590

(1.3) %

31,787

31,221

1.8 %

Operating fleet(d)

424

406

18 a/c

424

406

18 a/c

(a) Except for FTEs, data includes activity under a capacity purchase agreement with a third-party regional carrier.

(b) See a reconciliation of this non-GAAP measure and Note A for a discussion of the importance of this measure to investors in the accompanying pages.

(c) Excludes operations under the Air Transportation Services Agreement (ATSA) with Amazon.

(d) Includes owned and leased aircraft as well as aircraft operated under a capacity purchase agreement with a third-party regional carrier.

GAAP TO NON-GAAP RECONCILIATIONS (unaudited)
Alaska Air Group, Inc.

We are providing reconciliations of reported non-GAAP financial measures to their most directly comparable financial measures reported on a GAAP basis. Amounts in the tables below are rounded to the nearest million. As a result, a manual recalculation of certain figures using these rounded amounts may not agree directly to the amounts presented. These reconciliations include adjustments intended to improve comparability and provide a clearer view of the Company's core operating performance.

Losses (gains) on foreign debt and other primarily reflect unrealized and realized gains or losses resulting from changes in foreign currency exchange rates on certain debt. In 2025, these expenses also included mark-to-market fuel hedge adjustments.

Special items - operating primarily relate to costs associated with the integration of Hawaiian Airlines, including employee-related costs, technology costs, and other merger-related expenses. It also includes certain litigation costs. In 2025, these expenses also included costs related to changes in Alaska flight attendants' sick leave benefits pursuant to a collective bargaining agreement ratified in the first quarter of 2025.

During the third quarter of 2026, the Company revised its full-year outlook from a pretax income to a pretax loss primarily due to elevated fuel prices. This reduced the Company's estimated AETR. Because the Company incurred pretax losses in the first half of 2026, the lower tax rate reduced the expected tax benefit associated with those losses by $75 million. As required under the AETR methodology, this adjustment was recorded in the third quarter and is included in adjusted income tax expense of $84 million. Excluding this adjustment, adjusted income tax expense would have been $9 million and adjusted earnings per share would have been $0.36 for the quarter ended September 30, 2026.

The $75 million adjustment remains reflected in year-to-date adjusted earnings and will be included in the Company's full-year 2026 adjusted earnings results. Because the adjustment relates entirely to the remeasurement of tax benefits associated with first-half losses, management believes excluding it from third-quarter adjusted earnings improves comparability of current-quarter operating performance.

Pretax Income (Loss), Net Income (Loss), and Earnings (Loss) per Share,
adjusted

Three Months Ended September 30,

2026

2025

(in millions, except per share amounts)

Income
Before
Income
Tax

Income
Tax

Net
Income
(Loss)

Per
Share

Income
Before
Income
Tax

Income
Tax

Net
Income

Per
Share

GAAP

$   18

$    165

$  (147)

$  (1.32)

$ 111

$     38

$     73

$   0.62

Adjusted for:

Losses (gains) on foreign debt and
other

6

(2)

Special items - operating

25

64

Total adjustments

31

(81)

112

1.01

62

12

50

0.43

Adjusted

$   49

$     84

$    (35)

$  (0.31)

$ 173

$     50

$    123

$   1.05

Impact of cumulative catch-up
adjustment related to tax benefits
recognized on first-half losses

—

75

(75)

(0.67)

Adjusted, excluding certain tax impacts

$   49

$      9

$     40

$   0.36

GAAP pretax margin

0.4 %

2.9 %

Adjusted pretax margin

1.1 %

4.6 %

Nine Months Ended September 30,

2026

2025

(in millions, except per share amounts)

Loss
Before
Income
Tax

Income
Tax

Net
Loss

Per
Share

Income
Before
Income
Tax

Income
Tax

Net
Income

Per
Share

GAAP

$         (513)

$    (97)

$  (416)

$  (3.70)

$ 116

$     37

$     79

$   0.65

Adjusted for:

Losses (gains) on foreign debt and
other

(1)

1

Special items - operating

102

211

Total adjustments

101

14

87

0.77

212

48

164

1.36

Adjusted

$         (412)

$    (83)

$  (329)

$  (2.93)

$ 328

$     85

$    243

$   2.01

GAAP pretax margin

(4.4) %

1.1 %

Adjusted pretax margin

(3.5) %

3.1 %

CASMex Reconciliation

Three Months Ended
September 30,

Nine Months Ended September
30,

(in millions, except unit metrics)

2026

2025

2026

2025

Total operating expenses

$        4,226

$        3,618

$       12,038

$       10,379

Less the following components:

Aircraft fuel

1,214

761

3,315

2,142

Freighter costs

53

47

157

136

Performance-based pay

66

62

158

163

Special items - operating

25

64

102

211

Adjusted operating expenses

$        2,868

$        2,684

$        8,306

$        7,727

ASMs

25,031

24,447

70,907

69,724

CASMex

          11.46¢ 

          10.98¢ 

          11.71¢ 

          11.08¢ 

Adjusted Capital Expenditures Reconciliation

Nine Months Ended September 30,

(in millions)

2026

2025

Aircraft, aircraft purchase deposits, and other flight equipment

$              790

$              744

Other property and equipment

175

219

Capital expenditures

965

963

Adjusted for:

Property and equipment acquired through the issuance of debt

72

69

Proceeds from sales of aircraft and other equipment

(10)

(162)

Adjusted capital expenditures

$            1,027

$              870

Debt-to-capitalization, including leases

(in millions)

September 30, 2026

December 31, 2025

Long-term debt and finance leases, net of current portion

$                 5,269

$                 4,834

Operating lease liabilities, net of current portion

1,138

1,141

Short-term EETC debt maturing in 2027

512

—

Adjusted debt, net of current portion(a)

6,919

5,975

Shareholders' equity

3,530

4,118

Total Invested Capital

$               10,449

$                10,093

Debt-to-capitalization ratio, including leases

66 %

59 %

(a) For September 30, 2026, the Company is presenting its short-term EETC debt, maturing in the third quarter of 2027, within its debt-to-capitalization ratio. At December 31, 2025, this debt was included within Long-term debt and finance leases, net of current portion.

Adjusted net debt to earnings before interest, taxes, depreciation, amortization, fixed portion of operating lease expense,
and special items

(in millions)

September 30, 2026

December 31, 2025

Long-term debt and finance leases

$                    6,159

$                    5,555

Operating lease liabilities

1,360

1,338

Adjusted debt

7,519

6,893

Less: Total unrestricted cash and marketable securities

2,231

2,123

Adjusted net debt

$                    5,288

$                    4,770

(in millions)

Twelve Months Ended
September 30, 2026

Twelve Months Ended
December 31, 2025

Operating Income (Loss)(a)

$                     (290)

$                      303

Adjusted for:

Special items - operating

141

250

Gains on foreign debt and other

(5)

(3)

Depreciation and amortization

826

795

Fixed portion of operating lease expense

283

279

EBITDAR

$                      955

$                    1,624

Adjusted net debt to EBITDAR

5.5x

2.9x

(a) Operating income (loss) can be reconciled using the trailing twelve month operating income as filed quarterly with the SEC.

Note A: Pursuant to Regulation G, we provide reconciliations of reported non-GAAP financial measures to the most directly comparable GAAP financial measures. We believe these non-GAAP measures provide meaningful supplemental information to investors for the following reasons:

Pretax income (loss), net income (loss), and earnings (loss) per share are presented on an adjusted basis. Adjustments are made for special charges that are unusual or nonrecurring in nature, as well as for gains and losses on foreign debt, as these adjustments enhance comparability of our core operations to prior periods and to the rest of the airline industry.
CASMex is a key measure used by management and the Air Group Board of Directors to evaluate cost performance. It is also commonly used by industry analysts to compare airlines. Because U.S. carriers are generally similarly affected by changes in jet fuel prices over the long run, aircraft fuel costs are excluded to focus on more controllable, company-specific cost drivers. Costs related to freighter aircraft operations, including those incurred under the ATSA with Amazon, are excluded to enhance comparability with carriers that do not operate freighter aircraft. Performance‑Based Pay (PBP) expense is excluded as it is dependent on the Company's achievement of annually established financial and operational goals. Certain special charges are excluded as they are unusual or nonrecurring in nature.
Adjusted capital expenditures includes certain amounts that are not classified as investing cash outflows within our consolidated statements of cash flows, but are viewed by management and other stakeholders as significant long-term investments in the business. Management believes these adjustments provide a more complete view of capital expenditures during the year.
Liquidity and leverage measures, including debt-to-capitalization and adjusted net debt to EBITDAR, are presented to provide insight into the Company's financial position and flexibility. In 2026, we made adjustments to the calculation of these metrics to enhance comparability with our peers. The debt-to-capitalization ratio now excludes the current portion of operating and finance lease liabilities, with prior periods recast for consistency. Additionally, EBITDAR was adjusted to reflect the fixed portion of operating leases rather than total aircraft rent to better reflect performance, with prior periods recast accordingly.

GLOSSARY OF TERMS

Adjusted debt - long-term debt, plus operating and finance lease liabilities

Adjusted net debt - long-term debt, plus operating and finance lease liabilities, less unrestricted cash and marketable securities

Adjusted net debt to EBITDAR - represents adjusted net debt divided by EBITDAR (trailing twelve months earnings before interest, taxes, depreciation, amortization, fixed portion of operating leases, and special items)

ASMs - available seat miles, or "capacity"; represents total seats available across the fleet multiplied by the number of miles flown

CASMex - operating costs excluding fuel, freighter costs, Performance-Based Pay (PBP), and special items per ASM, or "unit cost"

Debt-to-capitalization ratio - represents adjusted debt, net of current portion, divided by total equity plus adjusted debt, net of current portion

Diluted Earnings per Share - represents earnings per share (EPS) using fully diluted shares outstanding

Diluted Shares - represents the total number of shares that would be outstanding if all possible sources of conversion, such as stock options, were exercised

Freighter Costs - operating expenses directly attributable to the operation of B737 freighter aircraft and A330-300 freighter aircraft exclusively performing cargo missions

Load Factor - RPMs as a percentage of ASMs; represents the number of available seats that were filled with revenue passengers

PRASM - passenger revenue per ASM, or "passenger unit revenue"

RASM - operating revenue per ASMs, or "unit revenue"; operating revenue includes all passenger revenue, freight & mail, loyalty program revenue, and other ancillary revenue; represents the average total revenue for flying one seat one mile

RPMs - revenue passenger miles, or "traffic"; represents the number of seats that were filled with revenue passengers; one passenger traveling one mile is one RPM

Yield - passenger revenue per RPM; represents the average passenger revenue for flying one passenger one mile

SOURCE Alaska Air Group

Marvell Technology (MRVL - Free Report) closed the most recent trading day at $240.42, moving +1.4% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.02%.

Shares of the chipmaker witnessed a loss of 7.88% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.28%, and the S&P 500's gain of 0.67%.

Market participants will be closely following the financial results of Marvell Technology in its upcoming release. In that report, analysts expect Marvell Technology to post earnings of $1.1 per share. This would mark year-over-year growth of 44.74%. At the same time, our most recent consensus estimate is projecting a revenue of $3.16 billion, reflecting a 52.17% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.21 per share and revenue of $12.05 billion, which would represent changes of +48.24% and +47.01%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% higher. Marvell Technology currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 56.27. This signifies a premium in comparison to the average Forward P/E of 32.3 for its industry.

Investors should also note that MRVL has a PEG ratio of 5.12 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Electronics - Semiconductors industry had an average PEG ratio of 1.11 as trading concluded yesterday.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 167, this industry ranks in the bottom 33% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

The MIT-born startup says 16 node operators now run its mump2p software on Ethereum mainnet for more than 1.4 million ETH in stake, and that blocks arrive faster than over Ethereum's default gossip layer.

Ether.fi makes Optimum's mump2p mandatory for its node operators

Posted October 20, 2026 at 11:30 am ET.

Optimum, a networking startup run by MIT professor Muriel Médard, said Tuesday that its block-propagation software, mump2p, is in production on Ethereum mainnet, and that liquid restaking provider ether.fi now requires every one of its 12 node operators to use it.

The company counted 16 node operators on the protocol, running roughly 22,000 validator keys with more than 1.4 million ETH at stake. Optimum put that at over 3% of all ETH staked. Operators it named include Blockdaemon, Everstake, P2P.org, Stakefish and Bitcoin Suisse.

Ether.fi, which announced a blockspace deal with ETHGas in April, had previously left the software optional for its operators, according to Optimum. “We don’t mandate new infrastructure across our entire validator set unless we’re confident it raises the bar for our stakers and for the network,” said Rok Kopp, ether.fi’s co-founder and chief growth officer, in the announcement.

Optimum also gave a dollar figure of about $3.7 billion in what it calls “Total Value Boosted,” a metric of its own that the announcement does not define.

Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.

Speed Figures Come From Optimum Ethereum validators lose attestation and MEV rewards when they see a block late, and Optimum argues that validators far from major hosting hubs pay the most. Its pitch is a faster path for blocks between nodes: mump2p runs as an added channel next to Ethereum’s standard gossip rather than replacing it, the company wrote in August, and encodes data using random linear network coding, a technique the company says was co-invented at MIT.

By Optimum’s own early mainnet measurements, blocks arrived 2.42 times faster than with GossipSub, the peer-to-peer messaging protocol Ethereum’s consensus layer uses by default, and arrival-time variance was about 7.88 times lower. The company said mump2p users got the block first in nine of 10 measurements. The numbers are self-reported, and the announcement did not say how they were gathered. The same two multiples appeared in an Optimum-sponsored Four Pillars report in August, which described a test across 30 gateways while the company was still preparing its mainnet integration.

Médard framed the case in trading terms in the announcement: “In traditional finance, firms spend billions shaving milliseconds off execution because speed is money.”

From Testnet to Production Optimum ran a private testnet with seven operators in June 2025, two months after raising an $11 million seed round led by 1kx. It says connecting is free and permissionless, needs no changes to consensus or execution software, and takes one engineer less than an hour. In August, however, Optimum described the network as permissioned for now, with operators connecting through an API key it issued. The company said it plans to bring the protocol to other high-throughput blockchains after Ethereum.

Related Listen: Bits + Bips: Should Ethereum Really Burn Its Staking Yield to Zero?

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

In the latest trading session, Howmet (HWM - Free Report) closed at $211.63, marking a -3.82% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.02%.

The maker of engineered products for the aerospace and other industries's stock has dropped by 3.23% in the past month, exceeding the Aerospace sector's loss of 4.05% and lagging the S&P 500's gain of 0.67%.

Analysts and investors alike will be keeping a close eye on the performance of Howmet in its upcoming earnings disclosure. The company's earnings report is set to go public on October 29, 2026. The company is predicted to post an EPS of $1.37, indicating a 44.21% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.59 billion, up 23.98% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $5.34 per share and a revenue of $10.12 billion, demonstrating changes of +41.64% and +22.61%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for Howmet. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.19% rise in the Zacks Consensus EPS estimate. Howmet is currently a Zacks Rank #1 (Strong Buy).

In the context of valuation, Howmet is at present trading with a Forward P/E ratio of 41.2. This expresses a premium compared to the average Forward P/E of 23.12 of its industry.

We can additionally observe that HWM currently boasts a PEG ratio of 1.98. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 1.62 as of yesterday's close.

The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 36% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

East West Bancorp (EWBC - Free Report) came out with quarterly earnings of $2.76 per share, beating the Zacks Consensus Estimate of $2.69 per share. This compares to earnings of $2.62 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.60%. A quarter ago, it was expected that this bank holding company would post earnings of $2.61 per share when it actually produced earnings of $2.63, delivering a surprise of +0.77%.

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

East West Bancorp, which belongs to the Zacks Banks - West industry, posted revenues of $822.75 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.53%. This compares to year-ago revenues of $778.05 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

East West Bancorp shares have added about 11.7% since the beginning of the year versus the S&P 500's gain of 12.4%.

What's Next for East West Bancorp?While East West Bancorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for East West Bancorp was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.75 on $823.09 million in revenues for the coming quarter and $10.64 on $3.2 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Columbia Banking (COLB - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 22.

This bank holding company is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of -9.4%. The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level.

Columbia Banking's revenues are expected to be $687.95 million, up 18.2% from the year-ago quarter.

SkyWest (SKYW - Free Report) ended the recent trading session at $92.35, demonstrating a +2.1% change from the preceding day's closing price. This change outpaced the S&P 500's 0.28% gain on the day. At the same time, the Dow added 1.02%, and the tech-heavy Nasdaq lost 0.02%.

Shares of the regional airline witnessed a loss of 9.73% over the previous month, trailing the performance of the Transportation sector with its loss of 1.81%, and the S&P 500's gain of 0.67%.

Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2026. The company is predicted to post an EPS of $3.13, indicating a 11.39% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.14 billion, showing a 8.93% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.77 per share and a revenue of $4.37 billion, indicating changes of +4.06% and +7.73%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.6% downward. Currently, SkyWest is carrying a Zacks Rank of #3 (Hold).

Looking at its valuation, SkyWest is holding a Forward P/E ratio of 8.4. This denotes a discount relative to the industry average Forward P/E of 11.66.

One should further note that SKYW currently holds a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Transportation - Airline industry stood at 1 at the close of the market yesterday.

The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 7% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Wall Street has found a new way to buy Bitcoin, and it looks a lot like something your grandparents owned. According to a report from Fidelity Digital Assets, perpetual preferred stocks issued by Bitcoin treasury companies have financed the purchase of 135,979 BTC in just over a year.

That figure, measured as of October 5, 2026, represents more than 0.5% of Bitcoin’s total supply.

The report, published October 20, 2026, frames these instruments as a real source of demand for Bitcoin. It also positions them as a bridge to the much larger world of fixed-income investors.

The numbers behind the preferred stock push
Think of a perpetual preferred stock as a bond that never matures. Investors hand over cash, the company pays them a steady dividend, and there is no date when the principal comes back.

For Bitcoin treasury companies, that structure is useful. They raise money from income-focused investors and use it to buy more Bitcoin, without issuing new common shares or taking on traditional debt.

The pace picked up sharply in 2026. Between March and May, issuers raised more than $7 billion through these offerings, according to Fidelity.

That capital went toward more than 95,000 BTC during those three months alone.

April was the peak. Fidelity’s data shows nearly 30,000 BTC were purchased in one week that month.

How it stacks up against spot ETPs
Fidelity was careful not to oversell the comparison with spot Bitcoin exchange-traded products. Those funds launched in January 2024 and gathered 888,185 BTC in their first year.

Fidelity’s argument is about who these products reach, not raw volume. The firm sees perpetual preferred equity as a way to tap the broader fixed-income market, which it estimates at around $150 trillion.

Fidelity also asserts that these vehicles can offer yields that surpass many traditional cash equivalents.

Where this trend came from
The model traces back to Strategy, which launched its first perpetual preferred stock product in July 2025. That issuance opened the door for others, including Strive, which Fidelity names alongside Strategy as a pioneer of the structure.

Fidelity has been building this thesis for a while. In commentary from September 2026, the firm highlighted the potential of preferred equity as a form of Bitcoin-backed digital credit, pointing to its appeal for fixed-income investors.

What this means for Bitcoin demand
Money raised through perpetual preferreds goes directly into Bitcoin purchases, so every successful offering translates into buying pressure on the open market.

Still, the model carries risks worth watching. Perpetual preferred stocks come with ongoing dividend obligations, and those payments do not stop just because Bitcoin’s price falls.

Issuers are effectively promising fixed income backed by a volatile asset. If Bitcoin enters a prolonged downturn, the market will test whether that promise holds up and whether investors keep lining up for new issuances.

For investors, the key metrics to track are the volume of new preferred issuance and how much of it converts into Bitcoin purchases. The yields these products offer relative to cash equivalents will also signal whether fixed-income buyers stay interested.

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

The Liquid Network on Tuesday said that things were up and running again, over one month after hackers stole 4,000 bitcoin, worth about $320 million at the time, from the network’s federation wallet before returning most of it in a “white hat” operation.

Writing in a blog post, the Liquid Network said that it was entering “the final stages of recovery with enhanced security.” 

Hackers in September stole 4,000 bitcoins from the federation wallet that backs the Blockstream sidechain. Blockstream was able to negotiate to get back most of the funds. 

“The final phase of restoration involves reestablishing the network’s full 1:1 bitcoin backing, followed by the controlled reactivation of Federation peg-outs for authorized PAK key holders,” the Liquid blog post read. 

“The Federation, Blockstream, and independent security experts have made substantial progress toward this objective, with the necessary technical infrastructure and safeguards now in place.”

The post added that it had introduced phased swaps again. Blockstream CEO Adam Back wrote on X on Tuesday that swaps were working again. 

Liquid is a layer-2 created by Blockstream that allows users to quickly move assets backed 1:1 with bitcoin. People can swap stablecoins for bitcoin and bitcoin on the Lightning Network on apps that support the Liquid Network. 

Hackers were able to get 4,000 bitcoins by exploiting an inflation bug on the Liquid sidechain to create over 4,000 LBTC — a token supposedly backed by bitcoin — that did not exist before and cash them out for real on-chain BTC. 

The hackers claimed to be white hat hackers who then had an exchange with Blockstream via messages written into Bitcoin blocks. Though critics argue they were not so ‘white’ since they kept 15% of the stolen funds, worth millions.

In one message, the hackers slammed Blockstream as “delusional, greedy, and arrogant,” and threatened to reveal all of Blockstream’s encrypted messages in the exchange unless the company paid the hackers 10% of the bitcoins as an official bounty. 

“You SHALL pay 10% using your own money as bug bounty or you will cause all your holders a 15% loss for your irresponsibility and stinginess,” the message read. 

The hackers are still holding onto around 600 bitcoins — or 15% of the total funds — worth close to $50 million at today’s prices as per the latest public knowledge. 

It is not clear if Blockstream reached a settlement with the hackers in private.

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

Coinbase received another major Bitcoin deposit on Tuesday, with 500 BTC transferred from wallets linked to convicted Irish drug trafficker Clifton Collins. This latest batch, valued at approximately $41 million, marks the fifth substantial transfer of Collins’s Bitcoin holdings in 2026.

Fifth transfer from legacy Bitcoin stashThe moved coins trace back to a legacy wallet initialized on January 23, 2016, which had remained inactive for over a decade. Blockchain analytics firm Arkham connected the latest transaction to Collins and identified it as the fifth such movement from his holdings this year.

Arkham recorded that the first 500 BTC from Collins’s wallets were sent to Coinbase Custody in March, when Bitcoin traded around $35 million per batch. Subsequent transfers followed: $38 million worth on May 19, another similar-sized move on July 2, and a $39.5 million transfer on August 28. With Tuesday’s transfer, a total of 2,500 BTC has left Collins’s addresses since January.

Irish police seized the assets in March but have not confirmed conducting this week’s transfer. Arkham analysts suggested law enforcement likely orchestrated the move, though no agency officially acknowledged responsibility.

DateAmount (BTC)DestinationUSD Value (at time)March 2026500Coinbase Custody$35 millionMay 19, 2026500New address$38 millionJuly 2, 2026500Coinbase CustodyNot specifiedAug 28, 2026500Same as July batch$39.5 millionOct 20, 2026500Coinbase$41 millionAfter the most recent batch, just under 3,500 BTC valued at nearly $288 million remain in Collins’s addresses.

Background: The fate of Clifton Collins’s BitcoinClifton Collins, an Irish national convicted of drug trafficking, reportedly used proceeds from cannabis operations in 2011 and 2012 to acquire roughly 6,000 BTC, spreading them across 12 separate wallets containing 500 BTC each.

Collins stored the wallets’ seed phrases on a single sheet of A4 paper, hidden inside a fishing rod case. In 2017, following his arrest, the landlord disposed of his belongings—including the fishing rod case. The keys are believed to have ended up in a County Galway landfill, leading to long-standing assumptions that the coins were irretrievable.

Despite the presumed loss, law enforcement gained access to at least one wallet earlier this year. The Irish Criminal Assets Bureau reported working with Europol to take control of a cryptocurrency wallet containing 500 BTC deemed criminal proceeds, though the exact method of gaining access remains undisclosed.

The Irish Garda did not specify how investigators gained entry to the wallet, leaving questions about the possibility of defective key generation software and whether the same vulnerability could be used to recover additional wallets.

Coinbase Custody, a secure crypto storage service often used by government agencies to hold seized assets, has received several of the batches linked to Collins’s holdings.

Mini dictionary: Arkham is a blockchain intelligence platform that provides tools and data for tracing crypto transactions and identifying wallet owners, often assisting law enforcement and market analysts with on-chain investigations.

Old Bitcoin wallets reawaken in OctoberCollins’s case is part of a larger pattern of dormant Bitcoin wallets becoming active in October. So far this month, 24 long-inactive wallets have transferred a combined 1,756.815 BTC, amounting to more than $145 million.

One of these wallets, originating in September 2013, moved 411.45 BTC worth around $33.4 million. This wallet is named in the ongoing “Noah Doe” suit in New York, which aims to have idle Bitcoin wallets—potentially containing nearly 3.8 million BTC—declared abandoned property. However, plaintiffs do not possess the necessary private keys to access these funds.

Efforts are underway in US courts to address the status of inactive crypto wallets, but without private keys, the assets remain beyond reach despite their immense value.

XRP, the native cryptocurrency of the XRP Ledger, is trading around $1.34 as of October 20, 2026. Also commonly referred to as Ripple coin, XRP is approximately 64% below its all-time high of $3.65 and 22% below its late-September weekly peak of $1.66.

Three developments are driving much of the decline: US spot XRP ETFs recorded their first weekly outflow in 14 weeks, up to 1 billion XRP held in Ripple’s escrow accounts will become eligible for release on November 1, and Bitcoin has fallen toward $83,000. Declines in Bitcoin often lead to even sharper losses across the altcoin market.

This article examines why XRP is falling, the price levels analysts are monitoring, and the developments that could change its outlook. It also looks at the MemeToro $MT presale for readers interested in exploring early-stage cryptocurrency projects during periods of weakness in established digital assets.

MemeToro is an open-source, AI-powered meme coin launchpad being developed on BNB Chain. Stage 9 of its presale is priced at $0.00649 per token. The project’s token contract has undergone three security audits, purchased tokens are delivered directly to buyers’ wallets, and a public testnet is already available.

This article contains sponsored content about MemeToro. Nothing presented here constitutes financial advice.

Key takeawaysXRP price today: According to FinanceFeeds, XRP is trading around $1.34 on October 20, 2026. KuCoin News reports that its market capitalization declined by approximately $5.83 billion over seven days from $88.22 billion on October 12.ETF flows reverse: US spot XRP ETFs recorded approximately $1.84 million in net outflows last week, ending 13 consecutive weeks of inflows, according to SoSoValue data reported by Coin-Turk and FXStreet.MemeToro presale: Stage 9 of the $MT presale is underway at $0.00649 on BNB Chain. Tokens are delivered directly to buyers’ wallets, and the token contract has been audited by Coinsult, SolidProof, and BlockSAFU.Upcoming supply event: Up to 1 billion XRP will become eligible for release from Ripple’s escrow accounts on November 1 at 00:00 UTC. Historically, Ripple has re-locked approximately 70% of released tokens.Bitcoin’s influence: According to 24/7 Wall St., Bitcoin is trading near $81,000 with a market dominance of 59.5%. Altcoins typically face greater pressure when Bitcoin declines.Key XRP price levels: FXStreet and FinanceFeeds identify $1.28 and $1.24 as important downside levels, while $1.34–$1.38 is the immediate resistance area.Next major event: The Federal Reserve is scheduled to meet on October 27–28.MemeToro ($MT) in 60 secondsMemeToro is an open-source, AI-powered meme coin launchpad under development on BNB Chain. Its native $MT token is currently available in Stage 9 of the presale.

Price: 1 $MT = $0.00649. Once the Stage 9 fundraising target is reached, the next stage will begin at a higher token price.

What supporters highlight: Three token security audits completed by Coinsult, SolidProof, and BlockSAFU; publicly available code under an MIT license; just 2% of the total token supply allocated to the team; and 71% reserved for the public sale. Purchased tokens are also delivered directly to buyers’ wallets.

What to consider: Interested readers can visit MemeToro’s official website to review its tokenomics and open-source code. The project’s risks should also be carefully considered before making any investment decision.

Why consider MemeToro ($MT) while XRP is falling?When major cryptocurrencies experience sharp declines, some investors consider allocating a small portion of their portfolios to higher-risk, early-stage projects. MemeToro falls into this category, although it differs substantially from XRP.

According to CoinGecko, XRP has a market capitalization of approximately $83 billion and is supported by spot ETFs trading in the United States. MemeToro, by contrast, is an early-stage project developing an open-source, AI-powered meme coin launchpad on BNB Chain. Its $MT token remains in a staged presale.

MemeToro’s operating model follows a straightforward principle: AI generates proposals, while smart contracts execute transactions according to predefined, transparent rules.

The platform’s AI agent analyzes news and trends on X to develop meme coin concepts. It explains the reasoning behind each proposal and records the results in a machine-readable file called a launch manifest, which contains the terms governing a token launch.

A smart contract called FairLaunchEscrow then applies those published conditions. The AI is responsible for generating and explaining ideas, but it does not control users’ funds.

The project’s code is publicly available on GitHub under an MIT license. The MemeToro team describes its current repository as an early-stage minimum viable product (MVP), with development of the launchpad still underway.

Supporters of the MemeToro ($MT) presale highlight several features:

Transparent operations: Token launch conditions are published before fundraising begins. Smart contracts are designed to enforce those rules, reducing reliance on promises made by the development team.Open-source code: The AI agent, launch manifest format, escrow contract, and testing framework are publicly available under an MIT license.Independent audits: Three separate security firms have audited the $MT token contract.Public-focused token allocation: Of the total supply, 71% is allocated to the public sale and 2% to the team. Marketing tokens follow a 24-month vesting schedule.Accessible purchasing options: Buyers can pay with cryptocurrency or a credit card. Tokens are sent directly to their wallets, and the website supports more than 16 languages.A working testnet: Users can explore the platform’s functionality without committing real funds.Staged pricing: Each new presale stage begins at a higher price. The $0.00649 price is therefore available only while Stage 9 remains open.How to buy $MT in Stage 9: Visit the presale section of the official MemeToro website and carefully verify the website address. You can connect a wallet on BNB Smart Chain or select the credit card payment option.

Before completing a purchase, verify the contract address and review the Stage 9 price and sale conditions. Purchased $MT tokens are transferred directly to your wallet. You should also check the regulations applicable in your jurisdiction before participating.

Why is XRP falling? Five reasons behind the decline1. Demand for XRP ETFs has weakenedUS spot XRP ETFs have attracted approximately $1.8 billion since launching nearly a year ago. However, the funds recorded around $1.84 million in net outflows last week.

According to SoSoValue data reported by Coin-Turk on October 17, this ended a streak of 13 consecutive weeks of inflows.

Although the outflow was relatively small, the reversal is significant because ETF purchases had been one of the more consistent sources of demand for XRP.

According to 24/7 Wall St., total assets held by dedicated XRP investment funds declined from $1.77 billion to approximately $1.47 billion.

Bitcoin ETFs, meanwhile, showed a different trend. FinanceFeeds, citing Farside Investors data, reported that US-listed Bitcoin funds attracted $526.7 million on Monday.

2. More XRP could enter circulationRipple’s next escrow release is scheduled for Sunday, November 1, at 00:00 UTC. Two escrow accounts containing a combined 1 billion XRP will become eligible for release.

As of October 18, Ripple held 31.40 billion XRP in escrow.

Over the previous 12 release cycles, the company unlocked a total of 12 billion XRP but subsequently re-locked 8.4 billion tokens, equivalent to approximately 70%.

According to FinanceFeeds, Ripple followed a similar pattern in October. After releasing 1 billion XRP, it re-locked 700 million, leaving a net 300 million XRP outside escrow.

This means the entire 1 billion XRP scheduled for potential release on November 1 will not necessarily enter circulation. Nevertheless, the upcoming event remains an important consideration for traders.

3. XRP supply has grown faster than its market valueAccording to an October 16 CoinDesk report citing Nansen data, XRP’s circulating supply has increased by 63% since 2017.

During that period, the number of XRP tokens in circulation rose from 38.7 billion to 63.1 billion, while the cryptocurrency’s total market capitalization declined by approximately 3%.

Nansen analyst Nicolai Sondergaard explained that an increase in circulating supply means each token represents a smaller share of roughly the same total market value.

XRP’s weaker performance compared with other major cryptocurrencies has also attracted attention.

According to Tesseract Group’s Oliver Carding, quoted by CoinDesk, XRP has lost approximately 59% of its value since August 2025. Bitcoin declined 32% over the same period, while Ether fell 44%.

4. Bitcoin weakness and macroeconomic conditions are adding pressureBitcoin is trading near $83,000 after briefly falling below $80,000 earlier this week.

US inflation rising to 3.7% in September has also weighed on market sentiment. Investors are now looking ahead to the Federal Reserve’s October 27–28 meeting.

According to 24/7 Wall St., Bitcoin accounts for 59.5% of the total cryptocurrency market, while XRP represents approximately 3%. Altcoins generally face greater pressure during periods of Bitcoin weakness.

The same publication reported that the overall cryptocurrency market declined by 3.5% in 24 hours on October 17.

5. XRP demand indicators have deterioratedAccording to CoinGlass data cited by FXStreet, open interest in XRP perpetual futures declined from 2.34 billion XRP on October 1 to an average of 2.17 billion XRP on Monday.

FXStreet also highlighted weakening interest from both retail and institutional investors.

Technical indicators reflect a similar trend. The Relative Strength Index (RSI) is hovering around 37, while the Moving Average Convergence Divergence (MACD) indicator remains in negative territory.

Developments involving Ripple have also failed to provide meaningful support for XRP’s price.

On October 15, Ripple Prime introduced perpetual swap trading for more than 100 underlying assets using RLUSD as collateral. However, CryptoTicker noted that XRP is neither accepted as collateral nor used as a settlement asset within the system.

According to XRP Insights, RLUSD’s circulating supply has reached approximately $2.43 billion. Nevertheless, RLUSD’s growth does not directly require users to purchase XRP.

Why is XRP down today? Developments that moved the price this weekAccording to CryptoTicker, XRP started the week around $1.33. It fell to $1.2827 on October 15 before staging a recovery.

XRP Insights data shows that the cryptocurrency ended the October 9–16 reporting period at $1.30, representing a decline of 6.5%.

Compared with its late-September weekly peak of approximately $1.66, XRP has now surrendered roughly one-fifth of its previous rally.

Meanwhile, shares of Evernorth, trading under the ticker XRPN, fell approximately 9.6% to $15.45 during the week ending October 16.

FinanceFeeds emphasized that the decline in the company’s share price does not, by itself, indicate that Evernorth sold any XRP.

XRP price today: Key support and resistance levels to watchDownside levels: According to 24/7 Wall St., XRP fell as low as $1.28 on October 15. A closing price below this level could open the door to a return toward the trading range seen in August.

XRP ended the week of August 16 at $0.99. FinanceFeeds identifies $1.24, near the lower Bollinger Band, as an additional reference level in a bearish scenario.

Upside levels: FXStreet places XRP’s 100-day moving average at $1.34, while its 50-day and 200-day moving averages are near $1.38. A significant technical resistance area lies around $1.40.

FinanceFeeds identifies $1.38, corresponding to the 200-period moving average on the weekly chart, as an important reference level for a bullish scenario.

Higher resistance levels: 24/7 Wall St. highlights previous closing levels at $1.42 and $1.49. According to FXStreet, the SuperTrend indicator currently stands near $1.47.

These levels are technical reference points, not guaranteed price targets or forecasts. XRP can move beyond them in either direction.

XRP price prediction: Can XRP return to $1.50 before the end of 2026?In its October 18 analysis, 24/7 Wall St. outlined two potential scenarios rather than providing a definitive price target.

Under the first scenario, if XRP closes above $1.42 and spot ETFs record another week of net inflows, the $1.50 level could come within reach.

In the second scenario, a close below $1.28 could lead to another decline toward the August trading range near $0.99.

The publication concluded that XRP appears increasingly unlikely to close above $1.50 before December 31.

However, all XRP price predictions for the end of 2026 depend on specific market conditions. Ripple’s upcoming escrow releases, ETF fund flows, and Bitcoin’s price movements remain among the most important variables determining which scenario may unfold.

XRP vs. Bitcoin: Which has performed better?Bitcoin has demonstrated greater resilience than XRP in recent months.

Since August 2025, Bitcoin has declined approximately 32%, compared with a 59% drop in XRP.

ETF data also highlights this divergence. Bitcoin ETFs attracted $526.7 million on Monday, while XRP ETFs recorded their first weekly outflow in 14 weeks.

Bitcoin is trading approximately 35% below its all-time high. XRP, meanwhile, remains around 64% below its own record.

Although XRP declined alongside Bitcoin, it has not recovered to the same extent during Bitcoin’s rebounds. This divergence is consistent with Bitcoin’s elevated market dominance.

Nevertheless, the performance gap between the two cryptocurrencies could change over time. XRP has also experienced periods when it outperformed Bitcoin.

Is XRP a good investment right now?The answer depends on your investment objectives and how much risk you are prepared to accept.

XRP supporters point to approximately $1.8 billion in cumulative ETF inflows, the growth of RLUSD on the XRP Ledger, and Ripple’s institutional partnerships as positive developments.

Critics, including analysts quoted by CoinDesk, focus on different concerns. These include XRP’s growing circulating supply, relatively limited ETF demand compared with Bitcoin and Ether, and the lack of sustained buying interest despite positive developments involving Ripple.

According to 24/7 Wall St., XRP has declined approximately 29% since the beginning of the year.

Neither side can predict the market’s next move with certainty. Any XRP position should therefore be treated as a high-risk investment.

Frequently asked questionsWhy is XRP going down?The main factors reported this week include the first weekly outflow from spot XRP ETFs in 14 weeks, the upcoming release of up to 1 billion XRP from Ripple’s escrow accounts on November 1, circulating supply growth that has outpaced market value, and weakness in Bitcoin and the broader macroeconomic environment.

Why is XRP down today?XRP is trading near $1.30, with losses ranging from 6.5% to 8.7% over the past week, depending on the data provider. Slowing ETF purchases and Bitcoin’s decline toward $81,000 have contributed to the downward pressure.

What will happen to XRP on November 1?Up to 1 billion XRP will become eligible for release from Ripple’s escrow accounts at 00:00 UTC. Historically, Ripple has re-locked approximately 70% of released tokens, meaning the net amount added to circulation has been considerably smaller.

Is XRP a good investment right now?XRP remains a high-risk investment. Supporters highlight ETF inflows over the past year and the expansion of RLUSD, while critics point to growing supply and subdued demand. Investors should only commit amounts they can afford to lose entirely.

What is MemeToro ($MT)?MemeToro is an early-stage, open-source, AI-powered meme coin launchpad being developed on BNB Chain. $MT is the platform’s utility token.

Stage 9 of the presale is priced at $0.00649, and purchased tokens are delivered directly to buyers’ wallets.

The project remains at an early MVP stage, and the smart contracts responsible for launching tokens have not yet undergone an independent security audit.

What is the MemeToro Stage 9 presale price?The current Stage 9 price is $0.00649 per $MT token.

Each presale stage has a specific target. Once that target is reached, the next stage begins at a higher price. Buyers should verify the current price on the official website before making a purchase.

Is the MemeToro presale legitimate?Several aspects of the project can be independently reviewed, including its publicly available source code, published token contract address, tokenomics, and three completed token audits conducted by Coinsult, SolidProof, and BlockSAFU.

However, there are also risks to consider. The development team operates under pseudonyms, and the smart contracts governing token launches have not yet undergone independent security audits.

Prospective participants should review the published audit reports before making any investment decision.

How can I participate in the MemeToro presale?Visit the official MemeToro website. You can connect a wallet on BNB Smart Chain or choose to pay by credit card.

Before confirming a purchase, verify the contract address and Stage 9 price. Purchased $MT tokens are delivered directly to your wallet.

Never purchase tokens through links sent in unsolicited messages.

Are XRP and Ripple the same thing?No. Ripple is a company, while XRP is the digital asset used on the XRP Ledger.

Although people frequently search for XRP using terms such as “Ripple coin” or “Ripple price,” the quoted market price refers to XRP, not the company.

Where to learn more about MemeToro ($MT)Official website: https://memetoro.com/GitHub: https://github.com/MemeToro/memetoroTokenomics: https://memetoro.com/tokenomicsX: https://x.com/memetoro_mtTelegram: https://t.me/memetoro_mtYouTube: https://www.youtube.com/watch?v=gY0jgWy_DtA