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A month has gone by since the last earnings report for Jacobs Solutions (J - Free Report) . Shares have added about 1.7% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Jacobs Solutions due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Jacobs Q3 Earnings Meet Estimates, Revenues Up Y/YJacobs’ third-quarter fiscal 2026 (ended June 26, 2026) adjusted earnings met the Zacks Consensus Estimate but grew year over year. However, revenues topped the consensus mark and increased from the year-ago quarter.

The quarterly results were driven by strength in the Infrastructure & Advanced Facilities (I&AF) segment because of broad-based growth witnessed across data center, semiconductor, energy & power, transportation and water sectors. Besides, the company is benefiting from rising investment tied to Artificial Intelligence infrastructure. Businesses directly related to the AI build-out represented 11% of adjusted net revenues during the quarter, including data centers, semiconductors, energy and power, water and digital services.

Inside Jacobs’ Q3 ResultsJacobs reported adjusted earnings of $1.84 per share for the third quarter of fiscal 2026, in line with the Zacks Consensus Estimate, but up 13.6% from $1.62 in the year-ago quarter.

Gross revenues of $4.08 billion surpassed the consensus mark of $3.54 billion by 15.1% and rose 34.5% year over year. Adjusted net revenues, which exclude low-margin pass-through revenues, increased 8.3% year over year to $2.42 billion. Backlog climbed 27.3% to a record $28.89 billion.

Adjusted operating profit increased 10.8% to $341.8 million year over year, while the corresponding margin improved 30 basis points (bps) to 14.1%. Adjusted EBITDA advanced 16.7% to $366.8 million, and the margin expanded 110 bps to 15.2%.

Jacobs' I&AF Segment Posts Solid ExpansionI&AF segment’s revenues surged 38.8% year over year to $3.75 billion. Adjusted net revenues advanced 9.9% to $2.09 billion, reflecting entirely organic growth. Segment operating profit rose 13.6% to $268.1 million. The operating margin expanded 40 bps to 12.8%, indicating that stronger volumes and execution translated into improved profitability despite an evolving revenue mix.

Life Sciences & Advanced Manufacturing delivered the strongest top-line growth. Gross revenues jumped 116.6% to $1.63 billion, while adjusted net revenues rose 24.2% to $476 million, led by data center and semiconductor activity. Critical Infrastructure gross revenues increased 7.2% to $1.23 billion, with adjusted net revenues up 9.4% to $1.01 billion. Water & Environmental gross revenues grew 10.8% to $889 million, although adjusted net revenue growth was limited to 1.5% as environmental activity offset solid water demand.

Jacobs' PA Consulting Margin ImprovesPA Consulting generated revenues of $329.5 million, down about 1% from the year-ago quarter. However, operating profit increased 1.7% to $73.6 million and the operating margin expanded 50 bps to 22.3% year over year.

PA Consulting backlog reached $459 million, up 9.3% year over year, supporting management’s confidence in the segment’s opportunity pipeline following the acquisition of the remaining ownership stake.

J's Cash Flow StrengthensJacobs generated $456.1 million in reported operating cash flow and spent $25.1 million on capital expenditures. Adjusted free cash flow, excluding accelerated employee-related payments connected with the PA Consulting transaction, totaled $541 million. The company ended the quarter with $1.17 billion in cash and cash equivalents and $3.58 billion in long-term debt. Net leverage declined to 1.8 times adjusted EBITDA, falling below the fiscal year-end target ahead of schedule.

Jacobs repurchased $142 million of shares during the quarter, bringing fiscal year-to-date buybacks to $614 million. It also declared a quarterly dividend of 36 cents per share, representing a 12.5% year-over-year increase.

Jacobs Raises Fiscal 2026 ExpectationsManagement raised the midpoint of its fiscal 2026 adjusted earnings outlook for the third consecutive quarter. Adjusted earnings are now expected between $7.20 and $7.30 per share, compared with the previous range of $7.10-$7.35. Adjusted net revenue growth is projected at 9.5-10%, up from the prior 8-10.5% range. The adjusted EBITDA margin is expected between 14.7% and 14.8% (compared with 14.6-14.9% expected earlier), while the adjusted free cash flow margin is forecast at approximately 8%.

The outlook reflects strong execution, record backlog and continued private-sector and utility capital spending. Jacobs also expects an extra week in the fourth quarter to benefit adjusted net revenue growth.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.

VGM ScoresCurrently, Jacobs Solutions has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Jacobs Solutions has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

A month has gone by since the last earnings report for Broadridge Financial Solutions (BR - Free Report) . Shares have added about 9% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Broadridge Financial due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Broadridge Financial Solutions, Inc. before we dive into how investors and analysts have reacted as of late.

Broadridge Beats Q4 Earnings EstimatesBroadridge Financial Solutions reported impressive fourth-quarter fiscal 2026 results, with both earnings and revenues beating the Zacks Consensus Estimate.

BR’s adjusted earnings of $3.82 per share topped the Zacks Consensus Estimate of $3.75 by 1.9% and increased 7.6% from the year-ago quarter’s actual.

Total revenues of $2.22 billion surpassed the consensus mark of $2.17 billion by 2.1% and rose 7.5% year over year. Recurring revenues increased 8% to $1.54 billion, while closed sales jumped 39% to $158.3 million.

BR’s Recurring Revenue MomentumRecurring revenue growth was 8% on both a reported and constant-currency basis. Organic growth contributed 7 percentage points, including 5 points from closed sales, partly offset by a 2-point drag from client losses. Acquisitions added 1 point.

Event-driven revenues declined 10% to $71.1 million, primarily due to lower mutual fund proxy revenues. Distribution revenues advanced 8% to $606.5 million, driven mainly by about $32 million of postage-rate increases.

Broadridge’s ICS Segment AdvancesInvestor Communication Solutions revenues rose 8% to $1.73 billion. Recurring revenues increased 10% to $1.05 billion, reflecting 6 points of internal growth, 3 points from net new business and 1 point from acquisitions.

Regulatory recurring revenues grew 14%, aided by 14% equity revenue position growth and 7% mutual fund and ETF position growth. Data-driven fund solutions rose 7%, issuer revenues increased 8% and customer communications gained 1%.

BR’s GTO Profitability ImprovesGlobal Technology and Operations (GTO) recurring revenues increased 5% to $487.5 million. Capital Markets revenues rose 8% to $307.1 million, supported by organic growth and the CQG acquisition. Wealth and Investment Management revenues edged up 1% to $180.5 million.

GTO earnings before income taxes nearly doubled to $67.5 million from $33.9 million. Its pre-tax margin expanded to 13.8% from 7.3%, as higher revenues and lower expenses more than offset the impact of ongoing investments.

Broadridge’s Margins & Earnings RiseOperating income increased 10% to $546.2 million, while the operating margin expanded 50 basis points to 24.6%. Adjusted operating income rose 7% to $598 million.

The adjusted operating margin slipped 10 basis points to 26.9%. Net earnings increased 6% to $398 million, while adjusted net earnings rose 5% to $442 million. The effective tax rate increased to 23.7% from 20.6% because of lower discrete tax benefits.

BR’s Operating Metrics Stay FirmEquity position growth was 17% in the quarter, while equity revenue position growth came in at 14%. Mutual fund and ETF position growth was 7%, underscoring solid activity across Broadridge’s governance network.

Internal trade growth was 15%, reflecting higher daily trade volumes among clients whose contracts are linked to activity levels. The metric exceeded the company’s 10-year average of 9%.

Broadridge’s Cash Flow Supports Capital ReturnsBroadridge ended fiscal 2026 with cash and cash equivalents of $402.9 million, down from $561.5 million a year earlier. Long-term debt was $3.25 billion compared with $2.75 billion at the end of fiscal 2025.

For fiscal 2026, operating cash flow was $1.35 billion. Free cash flow totaled $1.23 billion, representing 110% conversion of adjusted net earnings. The company returned more than $1 billion to shareholders through dividends and net share repurchases during the year.

BR Sets Fiscal 2027 TargetsFor fiscal 2027, Broadridge expects recurring revenue growth of 6-8% on a constant-currency basis. Adjusted operating margin is projected at about 21%, while adjusted earnings per share growth is anticipated in the 8-12% range.

Free cash flow conversion is expected to exceed 100% and closed sales are projected between $290 million and $330 million. The board approved a 12% increase in the annual dividend to $4.36 per share and authorized a new $1.5 billion share-repurchase program.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -10.85% due to these changes.

VGM ScoresCurrently, Broadridge Financial has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock has a score of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Broadridge Financial has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerBroadridge Financial belongs to the Zacks Internet - Software industry. Another stock from the same industry, CCC Intelligent Solutions Holdings Inc. (CCC - Free Report) , has gained 11.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

CCC Intelligent Solutions reported revenues of $285.93 million in the last reported quarter, representing a year-over-year change of +9.8%. EPS of $0.10 for the same period compares with $0.09 a year ago.

For the current quarter, CCC Intelligent Solutions is expected to post earnings of $0.11 per share, indicating a change of +22.2% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for CCC Intelligent Solutions. Also, the stock has a VGM Score of B.

Have you been paying attention to shares of Reinsurance Group (RGA - Free Report) ? Shares have been on the move with the stock up 6.8% over the past month. The stock hit a new 52-week high of $253.34 in the previous session. Reinsurance Group has gained 24% since the start of the year compared to the 7.4% gain for the Zacks Finance sector and the 18.6% return for the Zacks Insurance - Life Insurance industry.

What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 6, 2026, Reinsurance Group reported EPS of $8.89 versus consensus estimate of $6.51 while it beat the consensus revenue estimate by 0.95%.

For the current fiscal year, Reinsurance Group is expected to post earnings of $29.22 per share on $26.88 in revenues. This represents a 28.61% change in EPS on a 12.28% change in revenues. For the next fiscal year, the company is expected to earn $29.22 per share on $28.2 in revenues. This represents a year-over-year change of 0.02% and 4.91%, respectively.

Valuation MetricsThough Reinsurance Group has recently hit a 52-week high, what is next for Reinsurance Group? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.

On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.

Reinsurance Group has a Value Score of A. The stock's Growth and Momentum Scores are F and B, respectively, giving the company a VGM Score of B.

In terms of its value breakdown, the stock currently trades at 8.6X current fiscal year EPS estimates, which is not in-line with the peer industry average of 12X. On a trailing cash flow basis, the stock currently trades at 11.8X versus its peer group's average of 10.3X. This is good enough to put the company in the top echelon of all stocks we cover from a value perspective, making Reinsurance Group an interesting choice for value investors.

Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Reinsurance Group currently has a Zacks Rank of #2 (Buy) thanks to a solid earnings estimate revision trend.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Reinsurance Group fits the bill. Thus, it seems as though Reinsurance Group shares could have a bit more room to run in the near term.

It has been about a month since the last earnings report for Henry Schein (HSIC - Free Report) . Shares have added about 0.9% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Henry Schein due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

Henry Schein Tops on Q2 Earnings and RevenuesHenry Schein, Inc. reported second-quarter 2026 adjusted earnings of $1.27 per share, up 15.5% year over year. The bottom line surpassed the Zacks Consensus Estimate by 4.1%.

Net sales rose 6.7% to $3.46 billion and beat the consensus estimate by 2.8%. Results benefited from 4.6% internal sales growth, with gains across distribution, specialty products and technology. Acquisitions contributed 0.7% to growth, while foreign currency movements added 1.4%.

Henry Schein’s Distribution Business Gains

Global Distribution and Value-Added Services sales increased 6.6% to $2.91 billion. The segment generated 4.5% internal growth, a 0.6% contribution from acquisitions and a 1.5% foreign exchange benefit.

Global Medical Distribution sales advanced 4% to $1.06 billion, supported by 3.9% internal growth. Global Value-Added Services sales increased 5.1% to $61 million, reflecting 3.7% internal growth.

U.S. Distribution and Value-Added Services sales rose 4.6% to $1.95 billion. International sales in the segment climbed 10.7% to $965 million, aided by 5.5% internal growth and a 4.5% currency benefit.

HSIC’s Specialty and Technology Sales Rise

Global Specialty Products sales increased 8.7% to $419 million. Internal growth was 3.2%, acquisitions contributed 3.4% and foreign currency exchange added 2.1%.

Global Technology sales advanced 8.2% to $181 million. Internal sales grew 9.1%, partly offset by a 1.3% reduction related to a business disposal. Foreign exchange contributed 0.4%.

Technology delivered the company’s highest internal growth rate among its major reporting categories. The performance complemented steady gains in dental merchandise, medical distribution and specialty products.

HSIC’s Margin Performance

In the reported quarter, gross profit totaled $1.10 billion, representing an 8.4% increase year over year. The gross margin expanded 48 basis points (bps) to 31.8% despite a 6% rise in the cost of sales. Selling, general and administrative expenses increased 6.8% to $831 million. Operating income rose 13.2% to $171 million, while the operating margin expanded 28 bps year over year to 4.9%.

Liquidity Position of HSIC

Henry Schein exited the second quarter of 2026 with cash and cash equivalents of $157 million compared with $138 million at March-end. Cumulative net cash provided by operating activities at the end of the reported quarter was $145 million compared with $157 million a year ago.

Henry Schein Raises Its 2026 Outlook

Management raised its 2026 adjusted earnings guidance to $5.29-$5.39 per share, from the earlier $5.23-$5.37 range. The Zacks Consensus Estimate for earnings currently stands at $5.32 per share. The company also lifted its total sales growth forecast to 4.5%-5.5% from 3%-5%. The Zacks Consensus Estimate for sales is currently pegged at $13.72 billion, indicating 4.1% year-over-year growth.

Adjusted EBITDA is now expected to grow at a mid- to high-single-digit rate, compared with the prior expectation of mid-single-digit growth. Management cited sustained business momentum, margin improvement and early benefits from its value creation initiatives.

The updated outlook assumes foreign exchange rates remain generally consistent with current levels. It excludes future tariff refunds, remeasurement gains and several items that management does not consider representative of underlying performance.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates flatlined during the past month.

VGM ScoresAt this time, Henry Schein has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Henry Schein has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerHenry Schein is part of the Zacks Medical - Dental Supplies industry. Over the past month, Conmed (CNMD - Free Report) , a stock from the same industry, has gained 0.3%. The company reported its results for the quarter ended June 2026 more than a month ago.

Conmed reported revenues of $343.49 million in the last reported quarter, representing a year-over-year change of +0.3%. EPS of $1.38 for the same period compares with $1.15 a year ago.

For the current quarter, Conmed is expected to post earnings of $1.00 per share, indicating a change of -7.4% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

Conmed has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.

Nubank, the digital bank owned by Nu Holdings (NU +0.03%), is one of the fastest-growing banks in the world. It posted record results in the most recent quarter, and yet the stock price is floundering, down about 13% year to date.

Are investors missing the boat on this Brazilian banking powerhouse?

Image source: Getty Images.

Expanding into the U.S. São Paulo-based Nubank launched 13 years ago as something new in its Brazilian market: a fully online digital bank. With no branches and little overhead, the idea was to reduce expenses, serve customers where they are, and operate more efficiently.

Nubank has achieved that, and then some. It has expanded into Mexico and Colombia and now has 139 million customers, adding 4 million in the second quarter alone. Most of them, about 118 million, are in Brazil, while Mexico has 16 million and Colombia has 5 million customers.

Nubank will soon be expanding into the United States. In January, it got conditional approval from the Office of the Comptroller of the Currency (OCC) to launch Nubank NA, a national digital bank in the United States.

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The customer growth numbers are accompanied by its increasingly engaged and active user base. In the second quarter, the average revenue per active customer (ARPAC) was $17, up from $16 in the previous quarter. Further, the monthly activity rate, which counts people actively using the app, jumped to 83.5% overall, up from 83% in Q1. In Brazil, it hit 86% for the first time.

The bank's efficiency has been outstanding. Its efficiency ratio, which measures how much the bank spends for every dollar of revenue, is 19.5%. That is extremely low, as most banks with branches are happy to have an efficiency ratio in the 50%-60% range. However, the efficiency ratio is up from 17.3% in Q1. The higher Q2 ratio is due to real estate and marketing expenses shifted from Q1, as well as costs for international expansion.

When you consider the efficiency, engagement, and customer growth, you get blowout earnings results. Nu generated $5.9 billion in revenue in Q2, up 39% year over year. Net interest income hit $3.7 billion, up 9% from the previous quarter, while net interest margin increased 180 basis points to 22.9%. Nu set a record for profitability with $1.1 billion in net income in Q2, up 17% from Q1 and 49% year over year. Also, the return on equity (ROE) rose to 33%, from 29% the previous quarter.

One of the concerns earlier this year was Nu's credit quality, as non-performing loans (NPL) had increased to 5%, up 89 basis points from Q4. But year over year, it was only up from 4.8%. In Q2, the NPL rate improved to 4.8% but was still up from 4.4% a year ago. The 90-plus-day NPL rate was 6.9% in Q2, up from 6.6% in the same quarter a year ago.

Nu's stock is up about 7% since the second-quarter earnings report came out on Aug. 13, signaling improving investor sentiment. It is trading at 20 times earnings and has a low PEG ratio of about 0.9, which means it is cheap relative to its long-term growth expectations.

From Runway to Riches: Victoria's Secret's New LookVictoria's Secret & Co. NYSE: VSXY reported second-quarter results that exceeded its guidance, as growth in bras, PINK and Beauty supported higher regular-price sales, reduced promotional activity and improved profitability.

For the quarter ended Aug. 1, 2026, net sales rose 10% year over year to $1.611 billion, while comparable sales increased 9%. Adjusted operating income increased 125% to $124 million, exceeding the company’s guided range of $90 million to $100 million. Adjusted diluted earnings per share nearly tripled to $0.95 from $0.33 a year earlier.

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Victoria's Secret Turnaround Went Stealthy, Financials ShowChief Executive Officer Hillary Super said the quarter marked the company’s fifth consecutive period of positive comparable sales growth. She attributed the performance to gains across Victoria’s Secret, PINK and Beauty, as well as North American and international channels.

Bras, PINK and Beauty Drive Broad-Based Growth Bras remained the company’s largest growth driver, with sales up in the mid-teens during the quarter. Super said bras accounted for about half of the Victoria’s Secret brand’s mid-teens growth. The category benefited from core franchises as well as product innovation, including the FlexFactor Balconette and the launch of the Very Sexy Envy bra.

Victoria’s Secret Stock is Out of the Box “When we win in bras, we create a halo across the broader Victoria’s Secret business,” Super said, noting that the bra momentum contributed to high-teens growth in panties and mid-teens growth in sleep.

PINK sales increased in the high single digits, representing the brand’s fifth consecutive quarter of growth. The company cited strength in bras, panties and apparel. PINK apparel has now posted eight consecutive quarters of sales growth, according to Super.

The company highlighted its Marshmallow bra collection, PINK’s first new bra pillar in two years. Super said the launch was “100% incremental” and did not prevent the brand’s other bra franchises from growing. The collection includes wireless, easy-sizing styles designed around all-day comfort.

Beauty sales increased in the mid-single digits, extending the category’s growth streak to 12 straight quarters. Regular-price Beauty selling rose in the high single digits, led by fine fragrance and mist products. Victoria’s Secret introduced six incremental scents during the year and said it is increasingly integrating fragrance launches with larger seasonal campaigns and gifting events.

The company said its returning PINK Square bottle fragrances sold out digitally in less than a day during PINK Friday. Super also cited early strength in the Tease Strawberry Bisou launch and plans to extend shimmer offerings within the Bombshell fragrance franchise.

Higher Regular-Price Selling Lifts Margins Chief Financial and Operating Officer Scott Sekella said sales growth was accompanied by improved product sell-through and a reduced reliance on discounts. Regular-price selling increased in the low double digits during the second quarter, while average unit retail, or AUR, rose in the high single digits. Total units increased in the low single digits, while regular-price units increased in the high single digits.

Adjusted gross margin expanded 320 basis points year over year to 38.8%. About two-thirds of the improvement came from higher merchandise margins, driven by a greater mix of regular-price selling and fewer promotions, Sekella said. The remaining improvement reflected buying and occupancy leverage from the sales increase.

Adjusted selling, general and administrative expense totaled $502 million, and the SG&A rate improved 70 basis points to 31.1%. The company said it achieved expense leverage despite higher North American flex costs tied to stronger demand and investments in marketing and store experiences.

Victoria’s Secret received more than $140 million in IEEPA tariff refunds during the quarter, representing more than 95% of the IEEPA tariffs it had paid. Sekella said those refunds were excluded from the company’s non-GAAP results discussed on the call.

Inventory was up 8% from a year earlier, which management characterized as a healthy level to support demand. The company ended the quarter with $522 million in cash and no outstanding borrowings on its asset-based lending facility.

Customer Growth and Marketing Investment The company’s customer file grew by the mid-single digits for the fourth consecutive quarter, while new-customer acquisition rose in the high single digits. Management said gains occurred across both brands, channels, income groups and age groups, with particularly strong acquisition among consumers ages 18 to 24.

Chief Marketing and Customer Officer Elizabeth Preis said the company’s digital-first and social-focused marketing approach has helped customers return more frequently and spend more upon returning. Paid social was the company’s strongest customer-acquisition channel during the quarter, she said.

Victoria’s Secret plans to increase marketing spending over time. Sekella said marketing currently represents the low 7% range as a percentage of sales, and the company sees an opportunity to move that level into the high single digits over the next several years.

Planned second-half initiatives include the Angels Among Us docuseries, which is set to premiere globally on YouTube on Sept. 27, and a broader Fashion Show presence incorporating watch parties and distribution through YouTube and social live-streaming platforms.

International Momentum and Raised Outlook International reported net sales increased 20% in the second quarter, including low-teens retail comparable-sales growth. China and the company’s European digital business led the gains. Adjusting for a reporting shift involving European digital sales, international sales grew 10%.

Sekella said international growth is expected to moderate somewhat in the second half as the company faces more difficult comparisons, though it continues to forecast approximately 20% international net sales growth for the full year. China remains the company’s largest international growth market, supported by social selling, digital demand and improving store comparable sales.

For fiscal 2026, Victoria’s Secret raised its net sales outlook to $7.10 billion to $7.18 billion, implying growth of 8% to 10% from fiscal 2025. It now expects adjusted operating income of $560 million to $590 million and adjusted diluted EPS of $4.45 to $4.70.

For the third quarter, the company projected net sales of $1.57 billion to $1.60 billion, up approximately 7% to 9% from the prior year. It expects operating income of $10 million to $20 million and adjusted diluted EPS ranging from a loss of $0.09 to income of $0.01. Management said the forecast includes continued sales momentum, though it also reflects higher marketing, transportation and incentive-compensation costs.

About Victoria's Secret & Co. (NYSE:VSXY)Victoria’s Secret & Co is a leading designer, manufacturer and marketer of intimate apparel, beauty products and accessories for women. The company operates a portfolio of brands that includes Victoria’s Secret, renowned for its lingerie, bras and sleepwear; PINK, a line targeting younger consumers with activewear and lifestyle products; and Victoria’s Secret Beauty, offering fragrances, cosmetics and personal care items. Products are sold through retail stores as well as direct-to-consumer channels, including e-commerce platforms and mobile applications.

The origins of Victoria’s Secret date back to 1977, when founders Roy and Gaye Raymond opened the first store in San Francisco.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways ONON raised its 2026 gross-margin outlook to at least 65% after second-quarter profitability improved.On Holding's DTC sales rose 34.3% at constant currency, reaching 45.7% of second-quarter net sales.ONON expects low-20% 2026 sales growth, while new tariffs and wholesale restraint add execution risk. On Holding AG (ONON - Free Report) raised its 2026 gross-margin outlook after a second quarter marked by 21.6% constant-currency sales growth and wider profitability. The stronger margin view gives investors a clearer measure of the premium model's resilience.

The question is whether that cushion can hold as new U.S. tariffs increase product costs and management restrains wholesale shipments in promotional markets. Those pressures make second-half execution central to the outlook.

ONON Lifts Its 2026 Gross Margin FloorONON raised its full-year gross-margin expectation to at least 65% from at least 64.5%. It maintained adjusted earnings before interest, taxes, depreciation and amortization margin guidance of 19.5%-20%.

The higher gross-margin outlook reflects a richer direct-to-consumer mix, full-price discipline and operating efficiencies. It also excludes potential benefits from anticipated tariff refunds, leaving the operating drivers rather than refunds to support the stated floor.

ONON DTC Growth Is Doing More of the Heavy LiftingDirect-to-consumer sales increased 34.3% at constant currency in the second quarter, compared with 12.7% growth in wholesale. The channel reached 45.7% of net sales, up from 41.1% a year earlier, and management expects it to strongly outperform wholesale in the second half.

That mix shift matters because ONON controls merchandising, pricing and brand presentation more directly in its own channels. Deckers Outdoor Corporation (DECK - Free Report) also saw direct sales outpace wholesale for HOKA in its first quarter of fiscal 2027, with DTC up 17.3% and wholesale up 2.9%.

NIKE, Inc. (NKE - Free Report) showed a different channel pattern in its fiscal 2026 fourth quarter, when currency-neutral wholesale revenues rose 1% and NIKE Direct revenues fell 9%. The contrast highlights how channel execution can meaningfully shape growth and margin outcomes across athletic footwear.

Tariffs Test ONON's Margin ResilienceSecond-quarter gross margin expanded 390 basis points to 65.4%, while adjusted earnings before interest, taxes, depreciation and amortization margin rose to 19.8% from 18.2%. Freight efficiencies, a higher direct-to-consumer mix, premium positioning and favorable foreign exchange more than offset higher U.S. import duties.

The test becomes tougher from here. Additional Section 301 tariffs imposed in July 2026 are expected to increase duties on ONON's products, and the incremental earnings impact was not quantified. Further tariff pressure could require more sourcing, pricing or efficiency offsets to protect profitability.

ONON's Sales Outlook Reflects Wholesale RestraintOn Holding expects full-year 2026 constant-currency net sales growth in the low-20% range. Management deliberately restrained wholesale sell-in during the second quarter and early third quarter to protect channel inventory health and full-price integrity in a promotional marketplace.

That choice supports premium positioning and creates a cleaner runway for upcoming running-product launches, but it sacrifices some near-term volume. If promotions persist, additional shipment restraint could keep wholesale growth below the pace of direct-to-consumer demand.

Image Source: Zacks Investment Research

ONON's Style Signals Add Context to the OutlookThe higher margin floor strengthens the operating case, but tariffs and slower wholesale sell-in leave second-half execution risks intact. Margin durability therefore depends on whether direct-channel mix and efficiencies continue to offset higher product costs without creating a larger sales trade-off.

ONON currently carries a Zacks Rank #4 (Sell). Its Growth Score of A, Momentum Score of A and VGM Score of A point to favorable growth and momentum characteristics, while the Value Score of D is less supportive. Because the Style Scores are designed to complement the Zacks Rank, those A scores do not override the more cautious near-term Rank signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NuScale Power (SMR +3.09%) is a popular nuclear energy stock with significant upside potential. The company is valued at just $4 billion despite operating in what could become a $300 billion global market.

In general, Wall Street analysts are bullish on the company. The consensus price target of $11.85 suggests nearly 30% in near-term upside. Two analysts believe shares could double in value over the next 12 months.

There's no doubt about NuScale's potential. The company specializes in small modular reactors, or SMRs. This technology has been around for decades, with only two SMR facilities ever commercialized worldwide. Adoption of SMRs, however, is heating up quickly. More than 80 SMR systems are currently in development, largely thanks to a single catalyst: rapidly rising energy demand from artificial intelligence (AI) companies.

These companies require large amounts of reliable baseload power. And due to climate commitments, much of this emerging power demand must be met by low-carbon generation. AI companies will need more power years down the line, but they also need more power now. That makes SMRs a better fit versus conventional nuclear power plants. SMRs are essentially miniature nuclear power plants that can be built faster and with lower upfront costs. They can also be located directly next to data center infrastructure.

While SMR competitors are currently in the application pipeline, NuScale remains the only company in the U.S. cleared by regulators to construct an SMR system. This reality, combined with AI's rapidly rising energy needs, paints an optimistic picture for NuScale's future. But there's one risk point every investor should be keenly aware of.

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This is what worries me about NuScale Power stock The long-term demand picture for nuclear energy is promising. Bank of America believes it will be a $10 trillion global opportunity through 2050. Importantly, however, Bank of America believes that SMRs will make up a minority of that opportunity. The bank estimates that meaningful SMR adoption will not arrive until 2035 or later.

NuScale is already ahead of the curve with several major projects in its pipeline. For example, it has a 6-gigawatt deal signed with their financing partner, ENTRA1, and a northeastern utility, the Tennessee Valley Authority. If built, this SMR system will be the largest in the world by far. NuScale also has a 462-megawatt deal in Romania that is advancing through government approvals.

Image source: Getty Images.

Here's the problem with NuScale: The company has repeatedly faced customer delays and cancellations. In 2023, its biggest deal at the time collapsed as cost estimates surged.

"Although there were problems specific to that project, the financial challenges and cost trends witnessed in this case will afflict any small modular nuclear reactor project," M.V. Ramana, a professor at the University of British Columbia, warned at the time. "In a rational world, no utility or government would invest another dime on these theoretical reactor concepts."

Even NuScale's Romania deal has faced several delays. Construction has not officially begun, but completion estimates have already been pushed out to 2034.

Good news could be on the way for NuScale's most valuable project, its 6-gigawatt deal in the U.S. NuScale's CFO recently guided investors to expect a power purchase agreement (PPA) by the end of 2026. If signed, a PPA would clear the way for construction to begin.

A PPA would be meaningful for NuScale's prospects as well as its stock price. A delay, however, could be devastating. NuScale remains unprofitable, and pushing out its most promising revenue-generating project would likely require additional shareholder dilution. So while NuScale's long-term prospects remain bright, shareholders should expect a long holding period with the potential for considerable dilution along the way.

Echo Base formed an ad hoc committee of BitMart claimholders on Sept. 2, following the crypto exchange’s decision to wind down its operations.

Summary

Echo Base formed an ad hoc committee representing BitMart customers with assets frozen after shutdown. Echo Base says BitMart never answered its proposed $10 million restructuring commitment submitted August 6. The committee retained two law firms and is assessing bankruptcy, regulatory and other recovery options. No court has determined whether customers retain ownership rights over assets held through BitMart accounts. BitMart appointed restructuring counsel and promised users a detailed roadmap by September 9, 2026 publicly. In a statement shared directly with crypto.news, Echo Base said the committee represents a “significant and growing aggregate balance” of frozen customer assets. It did not disclose the number of participating claimholders or the value of their claims.

The special situations firm said the group retained Young Conaway Stargatt & Taylor and Ashbury Legal. The committee is considering restructuring, regulatory and insolvency remedies.

Echo Base says its $10 million offer went unanswered Echo Base said it submitted a written proposal to BitMart management on Aug. 6. The proposal offered up to $10 million to sponsor a pre-negotiated bankruptcy filing.

According to the statement, the money would cover professional and administrative expenses through confirmation of a restructuring plan. Echo Base said BitMart did not respond. Crypto.news could not independently verify the communications between the companies.

Echo Base also described a dispute involving one of its affiliates. It said the affiliate requested a withdrawal on July 24, approximately 31 hours before BitMart announced its closure.

The affiliate allegedly made 15 attempts to contact the exchange before delivering a formal demand on Aug. 8. Echo Base said BitMart neither executed the withdrawal nor identified a contractual or legal reason for withholding the assets. BitMart has not publicly addressed that specific account.

BitMart is considering a different restructuring plan BitMart announced its orderly wind-down on July 26. It suspended new registrations, deposits and new orders before ending trading services on Aug. 26.

The exchange initially said it planned to cease platform operations on Jan. 31, 2027. Withdrawals would remain available, although BitMart warned that compliance reviews and heavy demand could delay processing.

As crypto.news previously reported, BitMart’s shutdown sent BMX down more than 60% within 24 hours. BitMart attributed the closure to its operating conditions, the market environment and its future strategy.

However, BitMart changed course on Aug. 21. In an official update, the company said it was developing a possible restructuring plan as an alternative to a full wind-down.

That plan “may include” phased business resumptions and creditor distributions, BitMart said. The exchange appointed White & Case as restructuring counsel and promised another update by Sept. 9.

Claimholders are considering court proceedings Echo Base said the committee is studying whether qualifying creditors could commence or join an involuntary insolvency proceeding. The firm stressed that no decision had been made.

An involuntary U.S. bankruptcy petition must meet statutory requirements governing creditor eligibility, claim amounts and disputed debts. A court would ultimately decide whether any petition could proceed. The committee is an independently organized group, not a statutory creditors’ committee appointed within an existing bankruptcy case.

Echo Base also argues that BitMart’s user agreement does not transfer ownership of deposited assets to the exchange. That remains the committee’s legal position rather than a court ruling. The treatment of customer crypto would depend on the relevant contracts, entities, jurisdictions and any eventual proceeding.

“BitMart still has time to run an orderly wind-down. What it does not have is anyone willing to put capital behind one. Out of court there is no stay, so a single claimant can stall the process for everyone, and any holder the company cannot reach retains its claim indefinitely. That is not a wind-down, it is an open liability with a queue attached.” said Echo Base’s chief executive Roshan Dharia.

Dharia added that Echo Base had offered “capital at risk” to support a court-supervised process. He said the proposal had remained outstanding since Aug. 6.

The Sept. 9 roadmap is the next deadline BitMart’s promised Sept. 9 update should clarify whether it will pursue a partial reopening, creditor distributions or its original closure schedule. The exchange has not publicly accepted Echo Base’s proposal.

Echo Base said it remains willing to negotiate with BitMart and its advisers. Until an agreement or court filing emerges, the committee’s recovery options remain under review and the status of individual frozen withdrawals may differ.

Scientists at Google DeepMind and Google Research released a new artificial intelligence model for weather forecasting today that sees our changing atmosphere more clearly and predicts its behavior more often.

WeatherNext 3 is the latest wave of a sea change in meteorology brought out by deep learning techniques, and Google says it will start feeding into weather information users see in search, Google Maps, and Gemini, as well as being available to users and researchers on Google’s cloud platforms.

“This is going to be the first time that some of the core variables feed and power a lot of the Google products,” Samier Merchant, a Google senior staff engineer, told TechCrunch.

The new model has already proven to be the most accurate among leading contenders tested on Operational WeatherBench, a utility for comparing AI forecasts built by the startup Brightband. It looks at metrics like temperature, windspeed, and humidity.

As well as beating out other deep-learning models built by Google, Microsoft, Nvidia, and the European Center for Medium-Range Weather Forecasting (ECMWF), it also beats traditional forecasts from the U.S. National Weather service and the ECMWF.

Image Credits:Brightband Most weather forecasts come from government-owned supercomputers laboriously churning through mathematical equations written to describe the physics of weather; while these systems have become remarkably accurate, they are expensive and comparatively slow. After the ECMWF released more than half a century of weather data produced by these systems in 2018, deep learning researchers began training models that could make predictions far more quickly and with comparable accuracy to government tools.

“Weather is chaotic, and so small differences really start to perturb massively…Machine learning targets the problem we are really solving, which is approximate noisy physics from incomplete information and finite compute, and so it learns patterns from a lot of data,” said Ferran Alet, a staff research scientist manager at DeepMind.

Since then, model-makers have pushed on the key weaknesses of AI forecasting models: They tend to forecast over a wider area — 15 to 25 square km — than is truly useful, they’re not always great with rain, and they still depend on the formatted data-sets produced by government agencies.

WeatherNext 3 takes on all three challenges. On key variables, researchers told TechCrunch, it can predict down to a resolution of 5km. Its evaluations on rain are 60% improved over WeatherNext 2, and it can now produce hourly forecasts, instead of the standard prediction every six hours.

Image Credits:Google Those improvements are the result of specific choices made by the designers. WeatherNext 3 is a larger model, with 2.4 times more parameters than its predecessor, and tailoring the targets for the decoder heads to give more useful answers. While most weather forecasts output as metrics averaged across a 3D grid, DeepMind researchers have already won plaudits by tuning their model to also visualize cyclone paths.

This time around, the designers also trained the model to target its forecasts to specific weather data stations. This is important not only for offering more granular predictions, but also for being able to evaluate its work against specific, ground-truth data.

“The idea, with a lot of AI applications, is to try to run tasks as end-to-end as possible,” Daniel Rothenberg, an atmospheric scientist at Brightband, said. “Adding a capability where this model is now also predicting, say, what Denver’s airport’s weather station is going to measure on an hourly basis, just connects that forecasting task closer to the core.”

The model is able to forecast more frequently because it can ingest weather satellite data collected in real-time on an hourly basis. Feeding AI models on raw empirical observations, rather than the analysis produced by weather supercomputers, promises a more accurate forecast, but it is still technically challenging to get models to work with unformatted data.

Google says WeatherNext 3 is the “first” AI model to directly incorporate raw observations for a high-resolution global forecast, but the AI weather startup WindBorne says its model, WeatherMesh 6, has been incorporating raw observations from its fleet of weather balloons and other sources since late 2025. Asked about that, Google pointed out that its forecasts are higher resolution across the globe. Regardless, both models still rely on national weather datasets to perform forecasts, so more work will be required for true direct data assimilation.

While LLMs get the bulk of the attention, the transformer revolution in meteorology has been just as important. European and US weather agencies are already using AI models in their forecast products, and their speed and low cost promise to bring economic impact to poorer regions where the expense of high-quality sensors and supercomputers has put accurate forecasts out of reach.

Bill Gates recently cited AI-powered weather forecasting as a crucial benefit of the technology, with better forecasts improving crop yields in developing countries. Alet, the DeepMind researcher, said that higher-resolution forecasts of wind, rain, and cloud cover will be useful to make renewable energy projects more dependable.

“At the end of the day, I think Google is about providing useful information to the user, and a lot of what users are looking for has to do with the weather in some way or another,” Alet said.

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Amazon.com Today

$258.96 +3.98 (+1.56%)

As of 11:55 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$196.00▼

$287.2020.83

$323.09

Amazon.com Inc. NASDAQ: AMZN has built its empire on a relentless obsession with doing things faster and cheaper, so news that it's quietly working to automate one of the last stubbornly manual corners of its operation should surprise nobody. What might raise an eyebrow is just how ambitious the plan appears.

The project, known internally as Tetromino, is a reported effort to bring AI and robotics to the final stretch of Amazon's delivery network: the fiddly business of sorting packages and readying them for the vans that carry them to your door. It's exactly the kind of labor-heavy work that has so far resisted mechanization, and cracking it could make the whole system dramatically more efficient.

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The news lands at a slightly awkward moment for the shares, which have slipped roughly 10% from the record high they touched last month and look vulnerable to falling further. That backdrop makes the question all the more pointed: could a deeper push into automation be exactly the kind of long-term catalyst the stock needs, or is it a distraction from more immediate concerns?

Project Tetromino Targets Amazon’s Last-Mile Cost ProblemAccording to the reports, based on an internal planning document, Tetromino aims to automate the tricky task of organizing packages and preparing them for delivery vehicles. This step still relies heavily on human hands. The document reportedly calls for a pilot facility in 2028, with the system processing packages at around two and a half times the rate of Amazon's existing delivery stations.

It's worth stressing that this remains early-stage, and Amazon has been quick to manage expectations. The company disputed the financial projections and timeline in the reported internal document, describing Tetromino as a concept whose plans could change substantially. In other words, this is a glimpse of a direction of travel rather than a finished blueprint.

Even so, it fits a clear pattern. Amazon has said it expects to more than double the number of robotic arms across its network this year alone, and Tetromino would extend that drive into territory it has not yet conquered. The ambition is unmistakable, even if the details remain fuzzy.

Automation Could Unlock Amazon’s Next Margin LeverAmazon.com Stock Forecast Today12-Month Stock Price Forecast:
$323.09
25.36% Upside

Moderate Buy
Based on 59 Analyst Ratings

Current Price$257.72High Forecast$400.00Average Forecast$323.09Low Forecast$218.00Amazon.com Stock Forecast Details

To grasp why any of this matters for the stock, you have to understand the sheer scale of Amazon's e-commerce and logistics operation. Moving billions of packages around the world is enormously expensive, and much of that expense is labor. Anything that shaves cost from each package handled has an outsized impact when multiplied across such colossal volumes.

That's the heart of the bull case. If Amazon can automate a step that today demands substantial manual work, it stands to lower its cost per package and squeeze more profit from its vast retail machine as volumes grow. With an installed base already numbering more than a million robots, the company has both the scale and the expertise to make automation a powerful competitive weapon.

There is a second, subtler prize, too. A more automated network doesn't just cut costs; it can be rented out to others. Amazon has been opening up its logistics muscle to outside merchants, and the more efficient that network becomes, the more profitably it can monetize all that capacity, turning a cost center into a potential earner.

Execution Risk Still Clouds the Robotics Bull CaseFor all that promise, the bears have some fair objections, and they start with the simple fact that this is far from a done deal. Automating the messy, unpredictable final steps of delivery is a much harder problem than bolting robots into a warehouse, and there's no guarantee Amazon cracks it, or that the savings justify the cost when it does.

That points to the broader worry about spending. Amazon is pouring staggering sums into AI, robotics, and infrastructure, and some investors fret this relentless capital intensity could weigh on cash generation if the returns disappoint. An expensive kit that fails to deliver durable savings would be a poor trade, no matter how impressive the technology.

Then there is the awkward matter of jobs. Amazon insists its automation is designed to support workers rather than replace them. Still, reports based on internal documents suggest greater use of robots could slow its warehouse hiring over the coming decade. That is a delicate balance to strike, and one that could invite scrutiny as the technology spreads.

AMZN Pullback Puts the Long-Term Catalyst in FocusSo what should investors make of it all? On its own, a single early-stage project, however clever, won't transform a company the size of Amazon overnight, and the disputed timeline means any real benefit is years away at best.

Viewed through a wider lens, though, Tetromino is a useful signal of where Amazon is heading. It underscores a long-term strategy of grinding down costs and boosting efficiency across an already formidable logistics network, precisely the sort of relentless self-improvement that has made the company so dominant.

For investors, then, the project is best seen not as a reason to buy the shares today, but as a reminder of the powerful long-term forces still working in Amazon's favor. With the stock under some near-term pressure, those looking to build or add to a long-term position might have just gotten a fresh reason to be a little more bullish.

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A White House AI adviser is selling data centers as economic lifelines while Berkshire's Greg Abel warns of a full-blown revolt taking shape in communities across the country. One of them is reading a very different map of where a…

On September 2, 2026, three things happened within roughly 24 hours. Craft Ventures co-founder and White House AI adviser David Sacks amplified a political messaging script coaching candidates to frame data centers as “life preservers” for “drowning American towns.” Berkshire Hathaway‘s (NYSE:BRK-A | BRK-A Price Prediction)(NYSE:BRK-B) Greg Abel told CNBC there is “a lot more pushback” on data center construction across the country. And Pennsylvania Governor Josh Shapiro signed an executive order making local community support a permit prerequisite for new sites. Three separate signals, one message: the roughly $1 trillion in AI capital expenditure that investors are underwriting has run into a political problem large enough to require coordinated damage control.

Buildout Meets Backlash Sacks himself has quantified the scale. “Something like $800 billion of capex is being invested this year. I’ve seen forecasts for 1.4 trillion next year,” he said last week, adding that he would not be surprised if 2026 clears $1 trillion. The demand side of that number lives inside NVIDIA (NASDAQ:NVDA), which reported $96.22 billion in quarterly revenue and told investors it expects fiscal 2028 growth of approximately 70%, capped only by supply. CEO Jensen Huang put the cloud-industry backlog at greater than $2 trillion, with the top five hyperscalers on pace to spend $1.3 trillion in 2027.

The physical footprint of that money is what towns are now fighting. Digital Realty Trust (NYSE:DLR) has 1.4 gigawatts under construction at a total cost of $20 billion and a growth runway of 9 gigawatts. CEO Andy Power conceded on the July call that “as an industry, we are becoming significantly more visible” and that “it is becoming more and more challenging to deliver the critical digital infrastructure” customers want.

The power side is tighter still. Constellation Energy (NASDAQ:CEG) signed 920 megawatts of long-term nuclear power purchase agreements last quarter at durations of 18 and a half years, and PJM’s 2028/2029 capacity auction cleared at $325/MW-day. That price is exactly what residential ratepayers in the mid-Atlantic will see on their bills, and it is the number driving statehouse letters and county-commission fights.

Congressional research on the sector concluded that “data center load growth is the primary reason for recent and expected capacity market conditions” in PJM. Vertiv (NYSE:VRT), which supplies the cooling and power gear, just announced an acquisition explicitly aimed at accelerating “time to power” for AI data centers. The picks-and-shovels names powering, cooling, and networking these sites are the ones we profiled in a free report on seven AI infrastructure stocks that aren’t chipmakers.

Why Buffett’s Successor Is the Tell Berkshire Hathaway is the skeptical voice that matters because Berkshire Hathaway Energy owns regulated utilities across six states and Abel spent his career running them. Berkshire’s operating earnings rose to $12.98 billion last quarter, and the company deployed roughly $23.5 billion into equities including a $10 billion Alphabet stake. When Abel flags a revolt, he is speaking as the operator who has to file the rate cases the revolt shows up in. BRK-B is up just 0.52% year to date; NVDA is up 20.47%; VRT is up 58.52%. The gap prices in a world where the buildout continues without friction.

What to Watch Before the Midterms Shapiro’s Pennsylvania order is the template. Watch whether Virginia, Ohio, Texas, and Georgia adopt similar community-consent triggers before November, and watch PJM’s response to FERC on co-location rules, which Constellation expects in the first to second quarter of 2027. A single high-profile permit denial in Loudoun County or a rate-shock headline out of Ohio would validate Abel over Sacks and force NVIDIA’s hyperscaler customers to explain how a supply-constrained pipeline gets built when the constraint moves from wafers to zoning boards. The AI trade has priced in the chips. It has not priced in the county commission.

Contact [email protected] for any questions or corrections.

Key Takeaways SK Hynix is benefiting from surging demand for HBM and advanced storage chips used in AI infrastructure.Its NVIDIA partnership supports next-gen AI memory supply as SK Hynix expands capacity for rising demand.SK Hynix's Indiana fab will supply next-gen HBM to U.S. customers starting in the second half of 2029. South Korean memory-chip giant SK Hynix (SKHY - Free Report) made a highly impressive Wall Street debut in July. It is South Korea’s second-largest company and one of the world's largest semiconductor vendors. SK Hynix is experiencing exploding demand from AI data centers.

The company continues to gain from soaring demand for high-bandwidth memory and advanced storage chips, both of which are essential components of AI infrastructure. The rapid expansion of AI data centers has created a global shortage of memory products, boosting demand across sectors ranging from cloud computing to consumer electronics.

As a major supplier of AI memory chips to NVIDIA (NVDA - Free Report) , SK Hynix is well positioned to capitalize on the AI boom. Building on its relationship with NVIDIA, the company is expanding manufacturing capacity to address increasing demand generated by the continuing global AI investment cycle. 

Earlier this year, SK Hynix also entered into a long-term AI memory partnership with NVIDIA. As a follow-up measure to solidify their previous long-term technical partnership, this agreement allows NVIDIA to secure a stable supply of next-generation AI memory, while enabling SK Hynix to expand the foundation for growth.

SKHY holds a strong position in the high-bandwidth memory (“HBM”) market. This leaves it favorably placed as agentic AI drives greater memory requirements. Its early leadership in HBM provides a meaningful competitive advantage. Meanwhile, the rapid expansion of AI data centers has created a worldwide memory chip shortage, lifting demand across industries, from cloud computing to consumer electronics. The company could also gain from supportive policies in South Korea.

Last month, SK Hynix held a groundbreaking ceremony for its Indiana fab, thereby taking the first step toward securing a local AI memory production base in the United States. The Indiana fab is SK Hynix’s first AI memory production hub in the United States. Built on a site of approximately 133 acres, the fab will house an HBM production line and the Advanced Packaging R&D Testbed in West Lafayette, IN. SK Hynix plans to supply next-generation HBM that has undergone on-site packaging and testing to its U.S. customers starting in the second half of 2029.

Micron Technology (MU - Free Report) is also a major player in the HBM market. The company is benefiting from one of the biggest changes in the semiconductor industry — the rapid AI growth. AI servers need far more memory and bandwidth than traditional systems, driving demand for HBM, advanced DRAM and data center solid-state drives. Micron’s latest HBM solutions offer higher capacity, stronger performance and better power efficiency, making them well suited for AI accelerators. Demand has been particularly strong for HBM products. Micron has already sold out its HBM production for calendar year 2026, while a significant portion of the 2027 capacity has been reserved through long-term customer agreements.

Taking a Look at SKHY’s Key MetricsShares of SKHY have gained in the high single digits (% wise) ever since its U.S. debut. Consequently, SKHY’s shares outperformed the Zacks Electronics-Semiconductors industry over the same time frame.

Price ComparisonImage Source: Zacks Investment Research

See how the Zacks Consensus Estimate for the company’s earnings per share has been revised over the past 90 days.

Image Source: Zacks Investment Research

The Wall Street average price target for SKHY calls for an upside of roughly 54% from current levels.

Image Source: Zacks Investment Research

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

Key Takeaways Netflix shares have rebounded as investors focus on the scaling of its advertising business.Netflix expanded AI ad tools and programmatic access while seeing strong interest in live-event inventory.Ad revenues are expected to roughly double to $3 billion in 2026, with clients up 70% year over year. Netflix (NFLX - Free Report) shares have climbed sharply off their 2026 lows in recent weeks, and the advertising business is emerging as the central thread in that recovery narrative. As the stock works to claw back ground lost earlier this year, investor attention has increasingly shifted toward how quickly the company's ad-supported tier can scale and what that means for the broader growth story.

The renewed focus follows a set of developments the company has flagged around its advertising operations. In its most recent shareholder communication, Netflix said it expanded AI-powered tools across the advertising lifecycle — spanning planning, creative production, campaign management and reporting — and extended programmatic access to Pause Ads and live inventory, a move aimed at opening the platform to a broader range of buyers, including smaller advertisers previously limited by manual processes. The company also noted that its U.S. upfront negotiations were in advanced stages, with commitments expected to close in the following weeks, and pointed to strong advertiser interest in its live-event lineup.

These initiatives sit against a backdrop of steady financial performance. For the second quarter of 2026, Netflix reported revenues of $12.56 billion, up 13% year over year, with operating margin at 33.4% and earnings per share of 80 cents. The company repurchased $4.7 billion of stock during the quarter, its largest buyback quarter on record, leaving $27.1 billion in remaining authorization. On advertising specifically, Netflix has guided toward roughly doubling ad revenues to approximately $3 billion in 2026, with an advertiser base that had grown to more than 4,000 clients, up 70% year over year, as of its most recent count.

Looking ahead, the company reiterated its full-year revenue outlook of $51 billion to $51.4 billion, implying 13-14% growth, alongside a 31.5% operating margin target and roughly $12.5 billion in free cash flow, with growth in memberships, pricing and advertising cited as the primary drivers for the remainder of the year.

With the ad business still a fraction of total revenues but expanding at a rapid clip, its trajectory over the next two quarters is likely to remain a key determinant of whether Netflix's stock recovery has staying power.

Competitors Show Divergent Ad Growth PathsAmong U.S. rivals pursuing similar ad-supported growth, Disney (DIS - Free Report) and Comcast (CMCSA - Free Report) offer contrasting benchmarks. Disney's direct-to-consumer advertising revenues rose 3% in its fiscal third quarter, with Disney's Entertainment segment ad sales actually dipping 1% even as Disney's ESPN business offset the softness. Comcast, by contrast, posted a sharper trajectory: Peacock's advertising revenues jumped nearly 70% in the second quarter, aided by World Cup and NBA coverage, helping Comcast's streaming arm turn profitable for the first time. Comcast's faster ad ramp contrasts with Disney's steadier, subscription-led model, underscoring how differently each rival is monetizing its streaming audience.

NFLX’s Price Performance, Valuation & EstimatesShares of Netflix have plunged 11.8% year to date, underperforming the Zacks Broadcast Radio and Television industry and the Zacks Consumer Discretionary sector’s decline of 10.8% and 9.3%, respectively.

NFLX’s YTD Share Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, Netflix appears overvalued, trading at a forward 12-month price-to-sales ratio of 6.24X, higher than the industry’s 3.17X. NFLX carries a Value Score of D.

NFLX’s Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NFLX’s 2026 earnings is pegged at $3.59 per share, unchanged over the past 30 days. This indicates a 41.9% increase from the previous year.

NFLX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Ford is recalling 148,663 Mustang vehicles over an electrical wiring defect.The issue may cause propulsion loss or disrupt headlights, cooling, air conditioning and more.Owners can get wiring harness ground terminals replaced at no cost, with a remedy expected in March 2027. Ford Motor Company (F - Free Report) is recalling 148,663 Mustang vehicles over an electrical wiring issue that could result in a loss of drive power or disrupt key functions, including the headlights, thereby raising the risk of a crash.

Per the National Highway Traffic Safety Administration (NHTSA), certain Mustang vehicles may have an electrical wiring defect that could cause a loss of propulsion or affect the windshield washer system, headlights, air conditioning or engine cooling fan.

The recall covers 2024-2026 Ford Mustang vehicles manufactured between Sept. 7, 2022, and June 9, 2026. NHTSA estimates that approximately 1% of the recalled vehicles may have the defect.

Ford is expected to notify affected owners by mail between Aug. 31 and Sept. 4, 2026. A follow-up notification will be sent once a remedy becomes available, which is currently expected around March 2027.

Owners can take their affected vehicles to a Ford or Lincoln dealership, where the engine compartment wiring harness ground terminals will be replaced at no cost. F carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Latest Updates on Recalls by Other AutomakersTesla, Inc. (TSLA - Free Report) is facing heightened regulatory scrutiny in China after regulators ordered the recall of about 2.98 million vehicles last month over concerns that emergency door-release systems could fail during a crash or power loss. The recall primarily affects Tesla’s China-made and imported Model 3, Model Y, Model S and Model X vehicles. The issue highlights safety concerns surrounding Tesla’s electrically operated, flush-fitting door handles, a design feature closely associated with the company’s modern EVs.

General Motors Company (GM - Free Report) is facing an expanded U.S. safety investigation into engine failures affecting nearly 1 million pickup trucks and SUVs. GM previously recalled nearly 600,000 vehicles from the 2021-2024 model years over L87 engine problems linked to supplier quality issues. However, the issue has persisted despite recall repairs, with GM receiving nearly 7,000 complaints involving post-recall engine failures, while NHTSA has received 499 complaints.

F’s Price Performance, Valuation and Estimates  Ford has outperformed the Zacks Automotive-Domestic industry in the last six months. Its shares have gained 10.4% against the industry’s decline of 7.8%. 

Image Source: Zacks Investment Research

 
From a valuation perspective, F appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.32, lower than the industry’s 3.24. 

Image Source: Zacks Investment Research

 
The Zacks Consensus Estimate for Ford’s 2026 and 2027 EPS has moved up 20 cents and 9 cents, respectively, in the past 60 days. 

Image Source: Zacks Investment Research

PayPal (PYPL.O) has cut roughly 220 jobs in India as part of the payments firm's broader, multi-year turnaround plan laid ​out earlier this year, a person familiar with the ‌matter told Reuters on Thursday.

Here are some more details:

"The recent staffing changes are part of our previously announced multi-year transformation to simplify our global operations, ​strengthen execution, and position the company for long-term growth," a ​PayPal spokesperson said in an emailed statement.

The firm has outlined ⁠extensive cost-saving measures this year under newly appointed CEO, Enrique Lores, ​as it seeks to sharpen its competitive position in the crowded ​payments market.

PayPal has set a target of achieving $400 million in cost savings by year-end and at least $1.5 billion over the next two to three years.

Among ​the initiatives are plans to reduce organizational layers, improve productivity and ​integrate AI and automation across the business.

It joins a growing list of U.S. companies ‌that ⁠have announced job cuts this year.

The rise of fintech rivals and big-tech players such as Apple and Google in payments has chipped away at PayPal's market share in recent years, weighing on its stock. ​The company's shares ​are down ⁠roughly 82% from its 2021 record high.

In its latest earnings report, PayPal raised its full-year profit forecast ​after quarterly results topped Wall Street expectations.

The turnaround ​initiatives come ⁠against a backdrop of takeover speculation around the company.

Reuters reported in July, citing sources, that a consortium including payments company Stripe and private ⁠equity ​firm Advent had made a $53 billion ​offer to buy PayPal.

The suitors are no longer pursuing the deal, according to media reports in ​late August.

Key Takeaways Gold.com says softer precious-metals demand persisted through the first two months of fiscal 2027.Tether is adding storage, trading and lease volume for Gold.com, though at lower margins.Gold.com aims to deploy Tether leases over six to nine months while integrating Sunshine Minting. Gold.com, Inc. (GOLD - Free Report) used its fiscal Q4 2026 earnings call to emphasize softer precious-metals demand after a strong third quarter, with the slowdown continuing into the first two months of fiscal 2027. CEO Gregory Roberts said the business remains healthy.

Management also focused on Tether, metal-lease deployment, M&A and Sunshine Minting integration.

GOLD Faces a Softer Start to Fiscal 2027Roberts said demand began slowing from mid-March into early April, persisted through fiscal Q4 and continued through the first two months of fiscal Q1 2027. Higher interest rates were also weighing on gold and silver prices, while retail dip-buying remained muted.

CFO Cary Dickson said fiscal Q4 revenues rose 99% year over year to $5 billion and gross profit increased 35% to $110.3 million, while EBITDA declined 3% to $28.2 million.

Reported earnings of $0.83 per share missed the Zacks Consensus Estimate of $0.96 by 13.50%. Revenues of $5 billion missed the consensus mark of $7.76 billion by 35.5%.

Gold.com Sees Tether Scaling at Lower MarginsA ROTH Capital Partners analyst asked how Tether contributed during the quarter. Roberts said Gold.com is providing storage, trading and precious-metal lease services, adding volume but at lower margins.

Roberts said current lease and storage positions are at multiples of the levels disclosed when the relationship was announced. He described fiscal Q4 as an early period for developing the partnership.

A Canaccord Genuity analyst pressed for more detail on scale. Roberts would not quantify further, but said the companies are exploring additional opportunities, including digital products.

GOLD Targets Better Lease DeploymentA Northland Capital Markets analyst asked when financing savings tied to Tether would emerge. Roberts said Gold.com had not yet recognized some savings as metal leases increase and reliance on its dollar credit facility declines.

Roberts said the market returned to contango after backwardation eased as prices fell in March and April. Excess leases can create added costs when they are not matched against inventory that requires hedging.

Over the next six to nine months, management’s priority is to deploy the Tether leases and earn returns above related costs. Roberts said the benefits should take a couple of quarters to become more visible.

Gold.com Keeps M&A and Dividends at PlayA Maxim Group analyst asked about capital allocation after the company declared a $1 special dividend while maintaining its $0.20 quarterly dividend. Roberts said Gold.com remains committed to the regular dividend and may return more capital after exceptional periods.

On repurchases, Roberts said management would consider buying shares when the market price offers a discount to book value. He referenced book value approaching $1 billion.

Roberts also said the company’s active M&A posture is not slowing. Short-term market slowdowns, he added, can create acquisition opportunities as potential sellers become less satisfied with their performance.

GOLD Looks to Retail and Collectibles for GrowthA D.A. Davidson analyst asked about major retailers and new channels. Roberts said the Costco business remains strong and highlighted Gold.com’s ability to support it through minting, logistics and trading.

He also pointed to newer digital retail platforms using social media and gamification to sell bullion and collectibles. Management sees those channels as a way to reach younger customers as new customer acquisition has slowed.

A Canaccord analyst asked about collectibles. Roberts said Stack’s Bowers was in one of its largest auction weeks, with more than $50 million of products expected to sell over five to six days. Sports cards remain another area for expansion.

Gold.com Stays Focused on IntegrationRoberts framed fiscal 2027 around integrating acquisitions, optimizing the platform and capturing synergies from Sunshine Minting. He said Sunshine expands production capacity and supports Gold.com’s ability to serve sovereign mints and its own brands.

Management remained confident on long-term growth but cautious about near-term demand. The call emphasized flexibility across retail, wholesale, lending, minting and M&A rather than evenly distributed quarterly performance.

GOLD’s Zacks Signals Remain BalancedGOLD currently carries a Zacks Rank #3 (Hold), a more neutral near-term earnings-revision signal than the stronger Zacks Rank #1 or #2 categories.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It has a Value Score of A, Growth Score of A, Momentum Score of B and VGM Score of A.

The A and B Style Scores are favorable readings, while the VGM Score combines value, growth and momentum characteristics. Style Scores are designed to complement the Zacks Rank, not replace it. The Zacks Rank can change as analysts revise estimates after the just-reported results.

Etentamig, an investigational asset, achieved a significantly improved objective response rate (ORR, 74%) and a 60% risk reduction in disease progression or death (progression-free survival, hazard ratio 0.40) versus investigator's choice of standard available therapies Etentamig demonstrated low rates of cytokine release syndrome (CRS) and fatal infections with monthly dosing (Q4W) from initiation following a single step-up dose Etentamig's dosing schedule and clinical profile may offer a differentiated treatment option for patients and providers Results support the potential of etentamig, a second-generation BCMA-directed T-cell engager, to enable treatment across a range of settings, including outpatient and community-based care , /PRNewswire/ -- AbbVie (NYSE: ABBV) announced positive topline results from the Phase 3 CERVINO study1 evaluating etentamig, an investigational BCMA x CD3 bispecific T-cell engager, versus standard available therapies (SAT) in patients with triple-class exposed (proteasome inhibitor, immunomodulatory drug and anti-CD38 monoclonal antibody) relapsed/refractory multiple myeloma (RRMM). The study met its dual primary endpoints of objective response rate (ORR) and progression-free survival (PFS). Full results will be presented in a plenary session at the 23rd International Myeloma Society Annual Meeting, taking place September 23-26, 2026, in Glasgow, Scotland.

At the data cutoff, the Phase 3 CERVINO trial included 393 patients who had received a median of three prior lines of therapy. At the median follow-up of 11.4 months, etentamig demonstrated statistically significant and clinically meaningful efficacy with a manageable safety profile:

Significantly higher ORR with etentamig vs. SAT (74.0% [95% CI, 67.25–79.97] vs. 45.7% [95% CI, 38.59–52.91]; P<0.0001).2 Significantly improved PFS with etentamig vs. SAT (HR, 0.40; 95% CI, 0.29–0.54; P<0.0001). The PFS benefit was observed across all pre-specified subgroups evaluated.2 12-month overall survival (OS) was 87.9% for etentamig vs. 72.0% for SAT (HR, 0.48; 95% CI: 0.29–0.77; nominal P=0.0012); prespecified efficacy boundary for OS was not crossed at data cutoff.2 With a single step-up dose (SUD) and monthly (Q4W) dosing from initiation, etentamig demonstrated a potentially differentiated safety profile. Grade 3/4 infections occurred in 27.7% and 19.2% of patients receiving etentamig and SAT, respectively. Fewer grade 5 infections occurred with etentamig (1.5%) vs. SAT (3.1%). Among patients receiving a single step-up dose, the incidence of cytokine release syndrome (CRS) was low (28.3%) and predominantly grade 1 (23.9%) with no grade 3 or higher events reported. One patient experienced immune effector cell-associated neurotoxicity syndrome (ICANS) (0.9%, grade 1) with no grade 2 or higher events reported. Discontinuations related to treatment-emergent adverse events were low for etentamig vs. SAT (3.6% vs. 9.6%).2 This was the first planned efficacy interim analysis of the CERVINO study and, based on the significant benefit, the Independent Data Monitoring Committee (IDMC) recommended unblinding the study.

"In this heavily pre-treated, triple-class exposed patient population, etentamig delivered clinically meaningful improvements in progression-free survival and response rates, alongside a manageable safety profile characterized by predominantly low-grade cytokine release syndrome," said Dr. Peter Voorhees, Chief, Plasma Cell Disorders Division at Atrium Health Levine Cancer Institute and an investigator on the CERVINO study. "Together, with its administration and dosing schedule, these findings support etentamig's role as a BCMA-targeted bispecific treatment option for multiple myeloma patients, with the potential to provide access across a range of treatment settings beyond specialized treatment centers and into outpatient and community-based settings."

While BCMA-directed bispecific antibodies and CAR-T therapies have transformed multiple myeloma treatment, their adoption remains limited by adverse events such as CRS, neurotoxicity and infections, as well as the need for specialized monitoring and treatment infrastructure.3,4,5 These may limit access for many patients, particularly in community settings. As the disease relapses and available treatment options become increasingly limited, there remains a critical unmet need for additional therapy options across a range of treatment settings.3,4,5

"The Phase 3 CERVINO results support the scientific approach behind etentamig and demonstrate the value of designing therapies that address both the biology of multiple myeloma and the practical needs of patients and providers through a manageable safety profile, a convenient dosing schedule and the potential for treatment in outpatient and community-based care settings," said Daejin Abidoye, M.D., vice president and therapeutic area head, oncology, solid tumor and hematology, AbbVie. "These results underscore our confidence in etentamig and our broader multiple myeloma strategy, which explores complementary T-cell engagers, targeted small molecules and rational combinations designed to address distinct disease mechanisms and patient needs over time."

AbbVie plans to discuss the Phase 3 CERVINO results with global regulatory authorities to determine next steps for etentamig.

IMS Presentation Details:

Abstract Title

Date/Time

Session

CERVINO: Phase 3 Results of Etentamig
vs. Investigator's Choice of Standard
Available Therapies in Triple-Class
Exposed Relapsed or Refractory Multiple
Myeloma (RRMM)

Friday, September
25, 2026; 3 p.m.

PLENARY SESSION

Etentamig is an investigational asset and has not been approved for use by global regulatory authorities.

About the CERVINO Study1

CERVINO (NCT06158841) is a global, Phase 3, multicenter, randomized, open-label study evaluating etentamig versus investigator's choice of standard available therapies (SAT) in patients with relapsed/refractory multiple myeloma (RRMM) who have received at least two prior lines of therapy, including exposure to a proteasome inhibitor, an immunomodulatory drug and an anti-CD38 monoclonal antibody. Patients were randomized 1:1 to receive etentamig administered once every four weeks (Q4W) or SAT, including carfilzomib plus dexamethasone, elotuzumab plus pomalidomide and dexamethasone, or selinexor plus bortezomib and dexamethasone. Etentamig was administered using an optimized dosing strategy that incorporates a single step-up dose followed by monthly (Q4W) dosing from initiation.

The dual primary endpoints of CERVINO are overall response rate (ORR) and progression-free survival (PFS). Key secondary endpoints include overall survival (OS), depth of response, measurable residual disease (MRD) negativity, disease symptoms and physical functioning.

About Etentamig

Etentamig is an investigational, second-generation BCMA x CD3 bispecific antibody T-cell engager designed to combine meaningful anti-myeloma activity with a differentiated treatment experience for patients. Etentamig is composed of a low-affinity CD3 binding domain, designed to reduce cytokine release syndrome (CRS) and infections, a high-avidity bivalent BCMA-binding domain, and retained FcRn binding enabling monthly (Q4W) dosing after a single step-up dose. Clinical correlations of these structure-activity relationships have not been fully established.6

BCMA is highly expressed on the surface of malignant plasma cells in multiple myeloma, making it an ideal target for therapy. BCMA plays a crucial role in the survival of myeloma cells by promoting their growth and inhibiting their apoptosis (programmed cell death).5

Several clinical studies are evaluating the potential of etentamig across diverse patient populations and treatment settings. To learn more about AbbVie's ongoing etentamig clinical trials, please visit clinicaltrials.gov.

About AbbVie

AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, neuroscience and oncology – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X and YouTube.

About AbbVie in Oncology

AbbVie is committed to elevating standards of care and bringing transformative therapies to patients worldwide living with difficult-to-treat cancers. We are advancing a dynamic pipeline of investigational therapies across a range of cancer types in both blood cancers and solid tumors. We are focusing on creating targeted medicines that either impede the reproduction of cancer cells or enable their elimination. We achieve this through various, targeted treatment modalities and biology interventions, including small molecule therapeutics, antibody-drug conjugates (ADCs), immuno-oncology-based therapeutics, multispecific antibodies and novel CAR-T platforms. Our dedicated and experienced team joins forces with innovative partners to accelerate the delivery of potential breakthrough medicines. 

Today, our expansive oncology portfolio comprises approved and investigational treatments for a wide range of blood cancers and solid tumors. We are evaluating more than 35 investigational medicines in multiple clinical trials across some of the world's most widespread and debilitating cancers. As we work to have a remarkable impact on people's lives, we are committed to exploring solutions to help patients obtain access to our cancer medicines. For more information, please visit http://www.abbvie.com/oncology. 

Forward-Looking Statements 

Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2025 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

References:

AbbVie. Data on file ABVRRTI83865. Voorhees P, Manteca V, Costa L, et al. "CERVINO: Phase 3 Results of Etentamig vs. Investigator's Choice of Standard Available Therapies in Triple-Class Exposed Relapsed or Refractory Multiple Myeloma (RRMM)." Abstract presented at International Myeloma Society Annual Meeting, 2026. Glasgow, Scotland. Hej-Ali S, Banwell K, Mohamed H, et al. Toxicities of CAR-T, bispecific antibodies, and antibody-drug conjugates in multiple myeloma: a practical approach to risk mitigation and management. Cancers (Basel). 2026;18(13):2083. doi:10.3390/cancers18132083. Benda M, Reimann P, Willenbacher W, et al. Infectious toxicities associated with bispecific antibodies and CAR-T cells in multiple myeloma: a systematic review. Ann Hematol. Published online June 18, 2026. doi:10.1007/s00277-026-07140-8. Graham T, Ackbarali T, Patel K, Richter J. Integrating bispecific antibodies into community myeloma care: challenges, insights, and educational impact. Blood. 2025;146(suppl 1):8134. doi:10.1182/blood-2025-8134. D'Souza A, Shah N, Rodriguez C, et al. A phase I first-in-human study of ABBV-383, a B-cell maturation antigen × CD3 bispecific T-cell redirecting antibody, in patients with relapsed/refractory multiple myeloma. J Clin Oncol. 2022;40(31):3576-3586. doi:10.1200/JCO.22.01504.  SOURCE AbbVie

A semiconductor industry veteran who survived decades of brutal boom-and-bust cycles is calling an end to that era forever, but buried inside his optimism sits a warning about memory capacity that quietly cuts against the very stocks his words are…

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At Semicon Taiwan this week, Ajit Manocha, president and CEO of SEMI, told Bloomberg that after four decades in the industry, he has seen every kind of cycle and now sees a super cycle that only goes up. He pegged semiconductor industry revenue at $1.8 trillion or $2 trillion, credited AI for this decade and quantum for the next, and said every memory company is aggressively adding capacity, according to SEMI.

He said all of this during a week of rising bond yields and geopolitical stress. A man who ran fabs through the worst DRAM busts of the first 20 or 30 years of his career is telling investors those busts are finished. That deserves both listening and interrogation, because his comment about capacity is where the story quietly turns against the very stocks his optimism is pushing higher.

What Manocha Said, and Why the Messenger Matters Ajit Manocha’s framing was direct: “I have been in the industry for four decades and I have seen all kinds of cycles, especially the boom and bust in the first 20 or 30 years of my career. Now we are on a super cycle which is really going up and up only.”

SEMI is the trade association for the semiconductor manufacturing supply chain, and its members sell equipment and materials into every fab in the world. When its chief describes demand as durable, he is relaying what those members see in their order books, which is closer to actual purchase behavior than any strategist’s forecast. It is also directionally biased because a body funded by capacity vendors has every reason to describe capacity buyers as confident.

Memory Is the Real Subject of His Remarks Manocha’s most consequential line was about memory: “Memory demand has picked up a lot. There is need for memory for both storage and the compute. Adding capacity. The good news is, nobody is shy about investing in capacity. Every memory company is very aggressively investing in capacity.”

Micron Technology‘s (NASDAQ:MU | MU Price Prediction) fiscal Q3 is the evidence for the first half of that sentence. Revenue reached $41.46 billion, up 345.72% year over year, at a GAAP gross margin of 84.6%. Sanjay Mehrotra said “DRAM and NAND industry demand continues to significantly exceed industry supply”, with tightness expected beyond calendar 2027, according to SEMI. Shares have followed, up 708.26% over the past year to $956.08. That is the up leg. The second half of his sentence is what produces the down leg.

Capacity Is What Ends Every Memory Cycle Every prior memory cycle ended the same way. Contract prices spike; every producer sanctions a fab; first wafers arrive two to three years later; and new supply lands as the initial demand pulse cools. The lag between the capital decision and the shipment of wafers creates an overshoot because DRAM demand is elastic in the short term and supply is not.

Micron is inside this pattern. Fiscal 2027 quarterly capex will run above the fiscal Q4 pace of roughly $10 billion, and its Idaho ID1 fab is on track for first wafer output in mid-calendar 2027, according to SEMI. Long-term Strategic Customer Agreements soften the risk. Micron has signed 16 Strategic Customer Agreements with take-or-pay commitments and floor prices, covering roughly 20% of Micron’s DRAM volume over the term, according to SEMI. That protects a slice of revenue. It does not stop non-HBM DRAM pricing from rolling over first and pulling sentiment with it.

Is Micron Stock a Buy? The fair comparisons are equipment and compute. Applied Materials (NASDAQ:AMAT), at $438.46, has fallen 15.3% over the past month, even as revenue growth accelerated to 24.83% and CFO Brice Hill said customer visibility now extends through 2030. Equipment earns a toll on every wafer of new capacity, the same mechanism that will eventually pressure Micron. NVIDIA (NASDAQ:NVDA), at $224.41, sells the compute memory attaches to, with data center revenue of $89 billion and non-GAAP gross margin of 75%.

Owning Micron is a bet that memory pricing holds, while owning Applied is a bet that capacity keeps expanding, and owning NVIDIA is a bet on AI compute demand itself. All of that buildout still has to be powered, cooled, and networked by somebody, and we pulled together seven suppliers doing exactly that in a free AI infrastructure report. Manocha leads the association whose members benefit regardless of whether Micron’s margins survive the next supply wave. The SCA structure disclosed in Micron’s fiscal Q3 filing on SEC.gov meaningfully changes the downside.

Contact [email protected] for any questions or corrections.

George Kaiser Family Foundation bought a new stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,855 shares of the semiconductor manufacturer’s stock, valued at approximately $1,834,000. Broadcom makes up about 0.2% of George Kaiser Family Foundation’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its stake in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC boosted its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares in the last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares during the period. Harborfront Financial Group LLC acquired a new position in Broadcom during the second quarter worth $38,000. Finally, Cherry Tree Wealth Management LLC raised its position in Broadcom by 44.9% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 40 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance Shares of NASDAQ AVGO opened at $367.24 on Thursday. The company has a market cap of $1.75 trillion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The company has a 50-day simple moving average of $384.15 and a 200-day simple moving average of $377.14.

Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year. Analysts Set New Price Targets A number of equities research analysts have commented on AVGO shares. Evercore reissued an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Truist Financial increased their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. KeyCorp reiterated an “overweight” rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna reissued a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $491.97.

View Our Latest Research Report on AVGO

Broadcom News Roundup Here are the key news stories impacting Broadcom this week:

Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.59 billion, up 85.5% year over year, while non-GAAP EPS of $3.32 exceeded the $3.22 analyst consensus. GAAP profit rose sharply to $13.09 billion from $4.14 billion a year earlier. Broadcom third-quarter earnings report Positive Sentiment: AI semiconductor revenue reached $16.7 billion, increasing 221% year over year and 54% sequentially, highlighting strong demand for Broadcom’s custom AI accelerators. The company also generated $13.7 billion in free cash flow and declared a quarterly dividend of $0.65 per share. Broadcom AI semiconductor revenue and guidance Neutral Sentiment: Broadcom guided to approximately $34.8 billion in fourth-quarter revenue, representing 93% year-over-year growth, with non-GAAP operating margin of about 66%. The outlook still implies substantial growth, but management did not provide an EPS forecast in the reported guidance. Negative Sentiment: The fourth-quarter revenue forecast was below Wall Street expectations of roughly $35.0 billion to $35.03 billion. Investors viewed the shortfall as a sign that competition or execution risks could limit further gains from custom AI processors, particularly after the stock’s strong run and premium valuation. Reuters report on Broadcom guidance Negative Sentiment: Broadcom’s elevated valuation—approximately 61 times earnings—left little room for a merely solid outlook. Recent insider activity was also heavily weighted toward selling, although this is a secondary consideration compared with the earnings guidance. Insiders Place Their Bets In other news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company’s stock.

About Broadcom (Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Foyston Gordon & Payne Inc purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 67,215 shares of the semiconductor manufacturer’s stock, valued at approximately $25,488,000. Broadcom makes up 5.5% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 2nd largest position.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Bank of New York Mellon Corp bought a new stake in Broadcom in the second quarter worth $10,528,191,000. Deutsche Bank AG acquired a new position in Broadcom during the second quarter worth $5,661,216,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Broadcom during the second quarter worth $4,457,583,000. Finally, Cardano Risk Management B.V. raised its holdings in Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by insiders.

Broadcom Price Performance Shares of NASDAQ:AVGO opened at $367.24 on Thursday. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 61.21, a PEG ratio of 0.71 and a beta of 1.44. The business has a 50 day moving average price of $384.15 and a 200 day moving average price of $377.14. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the business posted $1.69 EPS. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Analyst Upgrades and Downgrades Several analysts have recently issued reports on the company. TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. BMO Capital Markets began coverage on Broadcom in a report on Thursday, August 20th. They set an “outperform” rating and a $455.00 price target on the stock. UBS Group set a $485.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $491.97.

Read Our Latest Stock Analysis on Broadcom

Key Broadcom News Here are the key news stories impacting Broadcom this week:

Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.59 billion, up 85.5% year over year, while non-GAAP EPS of $3.32 exceeded the $3.22 analyst consensus. GAAP profit rose sharply to $13.09 billion from $4.14 billion a year earlier. Broadcom third-quarter earnings report Positive Sentiment: AI semiconductor revenue reached $16.7 billion, increasing 221% year over year and 54% sequentially, highlighting strong demand for Broadcom’s custom AI accelerators. The company also generated $13.7 billion in free cash flow and declared a quarterly dividend of $0.65 per share. Broadcom AI semiconductor revenue and guidance Neutral Sentiment: Broadcom guided to approximately $34.8 billion in fourth-quarter revenue, representing 93% year-over-year growth, with non-GAAP operating margin of about 66%. The outlook still implies substantial growth, but management did not provide an EPS forecast in the reported guidance. Negative Sentiment: The fourth-quarter revenue forecast was below Wall Street expectations of roughly $35.0 billion to $35.03 billion. Investors viewed the shortfall as a sign that competition or execution risks could limit further gains from custom AI processors, particularly after the stock’s strong run and premium valuation. Reuters report on Broadcom guidance Negative Sentiment: Broadcom’s elevated valuation—approximately 61 times earnings—left little room for a merely solid outlook. Recent insider activity was also heavily weighted toward selling, although this is a secondary consideration compared with the earnings guidance. Broadcom Company Profile (Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Key Takeaways Broadcom sees fiscal 2027 AI semiconductor revenues near $115B, supported by secured supply.Customer demand exceeds AVGO's 2027 outlook, but supply and data center readiness will shape deployments.Broadcom expects AI networking revenues to grow as fast as XPUs over the next few years. Broadcom Inc. (AVGO - Free Report) used its fiscal third-quarter 2026 earnings call to extend the AI story through fiscal 2028, while stressing that supply and data center readiness will determine the pace of deployment.

Third-quarter revenues of $29.59 billion and non-GAAP EPS of $3.32 topped the Zacks Consensus Estimate of $29.47 billion and $3.22, respectively. Management focused more on the execution and durability of AI demand than on the quarterly beat.

AVGO Maps an AI Revenue Doubling PathPresident and CEO Hock Tan expects fiscal fourth-quarter AI semiconductor revenues of $21.7 billion, up 236% year over year, and consolidated revenues of $34.8 billion, up 93%. Fiscal 2026 AI revenues are now expected at $58 billion, above the prior $56 billion guidance.

For fiscal 2027, Tan said Broadcom has secured supply to support about $115 billion of AI semiconductor revenues. Customer demand exceeds that outlook, and management plans to work on expanding supply.

Broadcom also outlined about $230 billion of AI semiconductor revenues for fiscal 2028. Tan framed the figures as a growth trajectory and tied realization to actual data center deployment readiness.

Broadcom Details the XPU Customer Ramp-UpCEO Tan said the Google relationship now includes a long-term agreement covering future TPU generations and AI networking, with multi-tens of billions of dollars of TPUs planned annually over the next several years.

Anthropic is expected to deploy another 5 gigawatts of TPU version 8i in 2027 after 1 gigawatt of Ironwood in 2026, followed by an incremental 10 gigawatts in 2028.

OpenAI is on track for 1.3 gigawatts of Jalapeno in 2027 and more than 5 gigawatts in 2028. Meta remains on track for three MTIA generations and 3 gigawatts through 2028.

AVGO Puts Supply Discipline Behind the OutlookA Morgan Stanley analyst asked whether the fiscal 2027 AI outlook could move higher. Tan said customers want more product, but Broadcom based its outlook on secured supply and deployments it believes can be completed.

A Jefferies analyst asked about substrate capacity. Tan said Broadcom plans to begin deploying its Singapore substrate fab in fiscal 2027 to address a key supply bottleneck.

Goldman Sachs and Truist analysts focused on infrastructure constraints. Tan said land, power and shell can dictate timing, while leading-edge wafers, substrates, HBM and system memory add further supply-chain variables.

Broadcom Extends Ethernet Across AI ClustersPresident of Semiconductor Solutions Charlie Kawwas said both 100-gig and 200-gig Tomahawk 6 versions are deployed across AI hyperscalers building XPUs with Broadcom, and among customers using other accelerators.

Kawwas said Tomahawk Ultra is entering scale-up applications in the current quarter and fiscal 2027. He cited deployments across XPU clusters and some GPU clusters, using Ethernet as an open interconnect.

Tan added that AI networking revenues are expected to grow as fast as XPUs over the next few years. Broadcom also taped out Tomahawk 7, its 200-terabit-per-second Ethernet switch.

AVGO Balances Margin Dilution and AI FinancingChief financial officer Amie Thuener guided fiscal fourth-quarter consolidated gross margin to about 73% as XPUs and higher memory content increase their mix. Non-GAAP operating margin is expected near 66%.

Tan reinforced the operating-leverage focus in Q&A, noting that revenue growth is outpacing the operating spending required to support the AI ramp-up. Third-quarter non-GAAP operating margin was 67.9%.

Thuener said the XPV financing platform will be evaluated deal by deal. The first $35 billion tranche supports Anthropic's 1-gigawatt deployment, while future structures may include modest residual-value guarantees.

Broadcom Keeps Execution at the CenterManagement combined aggressive AI capacity plans with explicit execution controls. Customer commitments, secured supply and data center construction schedules shape the fiscal 2027 and 2028 revenue framework.

Broadcom is also funding substrate and optical capacity while protecting operating leverage. The call centered on scaling custom compute and networking together, with supply discipline shaping how quickly demand converts to revenues.

Zacks Signals for AVGOAVGO carries a Zacks Rank #3 (Hold), with a Growth Score of B and Value, Momentum and VGM Scores of D. Zacks' framework treats A and B Style Scores as more favorable, while a Rank #3 can still be held with the same grade hierarchy applied. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The B Growth Score is the strongest Style Score signal, while the D ratings temper the broader profile. The Zacks Rank can change as earnings-estimate revisions incorporate the just-reported results, so the current reading should be viewed as dynamic rather than permanent.

 | Source: Canadian National Railway Company

MONTREAL, Sept. 03, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that it set another a new monthly record for grain movement across its network. In August, CN moved 2.50 million metric tonnes (MMT) of grain from Western Canada, surpassing the previous record of 2.34 MMT set in August 2020.

The record movement marks a strong start to the 2026–27 crop year as the harvest progresses across Western Canada and new grain begins moving through the supply chain. This performance reflects strong customer demand, close collaboration with grain supply chain partners and the consistent execution of CN’s operating plan.

Following a record 2025–26 crop year, CN remains focused on maintaining this momentum through the fall harvest and delivering safe, consistent and reliable service for producers, grain companies and supply chain partners.

CN’s 2026–27 Grain Plan outlines how the Company has prepared its network, resources and operations to support customers through harvest and the year ahead.

About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

Contacts:
 MediaInvestment CommunityAshley MichnowskiJamie LockwoodSenior Manager        Vice-PresidentMedia RelationsInvestor Relations and Special Projects(438) 596-4329(514) 399-0052
[email protected]
[email protected]

DraftKings has shed nearly half its value over the past year while quietly building a Predictions product that went from $2.3 billion to $11 billion in annualized volume in just three months. Whether that pivot justifies a major rebound or…

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DraftKings (NASDAQ:DKNG | DKNG Price Prediction) has been one of 2026’s most disappointing large caps, sliding 31.98% year to date and 51.15% over the past year. With shares at $24.42, bulls are asking whether a 50% rebound is realistic.

Our 24/7 Wall St. price target for DraftKings is $22.56 over the next 12 months, implying -7.69% downside and a hold rating at 90% confidence.

Metric Value Current Price $24.42 24/7 Wall St. Price Target $22.56 Upside/Downside -7.69% Recommendation HOLD Confidence 90% Why We Could Be Wrong Our 24/7 Wall St. price target sits just below the current price, and DraftKings has real optionality. A strong NFL season could reset sportsbook margins, and the Predictions product is growing faster than anticipated with annualized volume traded jumping from $2.3 billion to $11 billion between April and July. Treat our target as one datapoint. A full bull case sits below.

A Rough Year Meets a Predictions Pivot Shares fell 9.11% in the past week and now trade well off the $48.78 52-week high, closer to the $20.46 low. Q2 2026 revenue of $1.44 billion came in missing expectations by 4.48%, and adjusted EPS of $0.09 came in missing expectations against a $0.1917 consensus.

Adjusted EBITDA compressed to $114.60 million from $300.64 million a year earlier as sports outcomes and Predictions launch spend weighed on margins. Management kept FY26 guidance of $6.5 billion to $6.9 billion in revenue and $700 million to $900 million in adjusted EBITDA intact.

Bull Case for $47+ Bulls have a clean story. Robins told investors DraftKings has “an excellent product experience,” and July sportsbook handle was up 20% year over year post World Cup. Customer acquisition costs came in 25% better than anticipated, and more than 600,000 customers have engaged with Predictions year to date.

Wall Street’s average target sits at $34.98, with 24 Buy and 5 Strong Buy ratings. Our own model’s bull case reaches $47.61 in 12 months, roughly 94.85% upside, if Predictions scales into a real second engine and sportsbook margins normalize.

What Could Go Wrong Sportsbook revenue fell 10.6% in Q2, and sports net revenue margin compressed to 6.8% from 8.7%. Sales and marketing surged to $322.54 million.

Bulls would counter that the margin hit reflects customer-friendly outcomes plus a deliberate $200 million to $300 million Predictions investment. Still, the bear scenario in our model prices DKNG at $21.32, roughly -12.76%, if regulatory friction on event contracts intensifies.

How DraftKings Compares to Flutter The cleanest comp is Flutter Entertainment (NYSE:FLUT), which owns FanDuel and competes head-to-head in US sportsbook. Flutter trades at 17x forward earnings against DraftKings at 24x, and its EV/EBITDA of 16 is a fraction of DraftKings’ 119. Flutter’s TTM revenue of $17.16 billion dwarfs DraftKings’ $6.22 billion.

That gap makes our 24/7 Wall St. price target for DKNG look reasonable rather than aggressive: DraftKings already commands a growth premium over the category leader, and further multiple expansion requires proof.

Company Forward P/E EV/EBITDA DraftKings 24 119 Flutter 17 16 DraftKings Price Prediction 2026-2030 My verdict on DraftKings is hold. The 24/7 Wall St. price target of $22.56 at 90% confidence reflects a real disconnect between the current forward EPS profile and today’s price.

I would be a buyer here if Q3 shows sportsbook margin recovery above 7% and Predictions crosses one million active customers. I would stay on the sidelines if promo spend continues climbing without matching handle growth. A 50% rebound is achievable, but only under the bull path.

Year 24/7 Wall St. Price Target 2026 $22.56 2027 $21.84 2028 $21.49 2029 $21.45 2030 $22.17 These projections assume DraftKings continues executing on Predictions and defends sportsbook share. Meaningful upside could arrive from California or Texas legalization, while regulatory action on event contracts could push actual outcomes toward the model’s bear path.

Contact [email protected] for any questions or corrections.

Michael Burry Takes Profits in Veeva. But He Has a Stark Warning for Snowflake Summary

Michael Burry trimmed his Veeva position after the shares rallied sharply while maintaining a bullish view on the software company

Michael Burry (Trades, Portfolio) has kept a bullish stance on Veeva Systems VEEV while reducing part of his holding after a rapid increase in the shares.

Burry disclosed the position earlier this year as part of a broader view that software stocks could recover. He later added to the investment before trimming it as Veeva approached a level he considered a potential barrier for further gains.

The move does not signal that Burry has abandoned the company. His comments indicate that valuation and the speed of the rally influenced the decision to reduce exposure rather than exit the investment.

Burry also raised concerns about Snowflake SNOW, describing its valuation as difficult to justify and pointing to potential long-term risks from cybersecurity developments involving artificial general intelligence and quantum computing.

Snowflake's shares, however, rose more than 23% in premarket trading after its latest results exceeded expectations. The company lifted its fiscal 2027 product-revenue forecast to $6.07 billion, representing 36% annual growth, from $5.84 billion previously.

Burry's Veeva trim may temper sentiment, while Snowflake's stronger outlook could offset valuation concerns.

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Michael Burry Undervalued Stocks Michael Burry Top Growth Companies Michael Burry High Yield stocks, and Stocks that Michael Burry keeps buying Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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