Track market-moving stories before they get noisy

By PYMNTS  |  July 17, 2026

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Regions Financial Corp. reported continued growth in customers’ digital usage and transactions during the second quarter, with President, CEO and Chairman John M. Turner highlighting its online banking and mobile app offerings as “key initiatives that are central to our long-term strategy.”

Speaking during a Friday (July 17) earnings call, Turner said surveys ranked Regions No. 1 among regional banks in online banking satisfaction and No. 1 among regional banks in its mobile app.

“These results reflect the work we’ve done to enhance the client experience, deliver more intuitive digital capabilities and make banking easier for our customers,” Turner said.

Regions serves customers across the South, Midwest and Texas, according to its website. Its Regions Bank subsidiary operates 1,200 banking offices and 1,750 ATMs, per a recent press release.

Regions launched a new native mobile app and found that customers’ usage of Zelle increased by 44% compared to two years ago and that customer chat volume leapt 70% year over year, according to a presentation released Friday.

Over the past two years, Regions’ mobile banking active users increased 6% to 2.73 million, its mobile banking logins rose 19% to 211 million, and its share of customer transactions that were digital rose from 75% to 80%, per the presentation.

Regions continued its core modernization efforts during the second quarter, completing a successful implementation of a new commercial lending platform and making good progress on a core deposit transformation that is set to reach a pilot phase later this year and full conversion in 2027, Turner said during the call.

Of the commercial lending platform, Turner said: “This represents a significant step forward in enhancing our technology infrastructure, improving speed to market and elevating the experience we deliver to our clients and bankers.”

Surveying the overall operating environment, Turner said during the call that it remains encouraging and that it is supporting continued momentum in Regions’ core business.

“Economic activity is solid, and despite ongoing uncertainty, businesses are generally well positioned, and we continue to see steady levels of investment and job growth across our markets,” Turner said. “On the consumer side, spending trends remain health and customers maintain solid account balances and liquidity buffers relative to their spending levels with overall financial conditions remaining stable.”

On July 2, days after the end of the second quarter, Regions announced that it expanded its services by acquiring The Frazer Lanier Company, a Montgomery, Alabama-based full-service investment banking firm specializing in municipal and corporate securities.

Turner said during Friday’s call: “We believe this transaction expands our capital markets platform, enhances our municipal finance expertise and allows us to broaden the solutions we provide to the public sector and institutional clients.”

Cava Group (CAVA - Free Report) ended the recent trading session at $68.85, demonstrating a +1.1% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 1.01%. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.4%.

Prior to today's trading, shares of the Mediterranean restaurant chain had lost 23.64% lagged the Retail-Wholesale sector's gain of 0.78% and the S&P 500's gain of 0.32%.

Investors will be eagerly watching for the performance of Cava Group in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.17, showcasing a 6.25% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $353.73 million, indicating a 26.06% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $1.49 billion, which would represent changes of +1.85% and +26.2%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Cava Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Cava Group is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Cava Group has a Forward P/E ratio of 124.95 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.78.

We can also see that CAVA currently has a PEG ratio of 4.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Restaurants industry had an average PEG ratio of 2 as trading concluded yesterday.

The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 188, finds itself in the bottom 24% echelons of all 250+ industries.

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

To follow CAVA in the coming trading sessions, be sure to utilize Zacks.com.

Key Takeaways The 2026 Q2 earnings season is in full swing, with a flurry of companies on deck to report soon. TSLA and GOOGL help headline the upcoming docket, with each seeing contrasting share performances in 2026. Google Cloud results are key for Alphabet, whereas Tesla's CapEx and margin performance remain critical. The 2026 Q2 earnings season is in full swing following the release of the big banks’ results, with many other notable companies on deck in the coming days and weeks.

Concerning next week’s docket, several Mag 7 members, Tesla (TSLA - Free Report) and Alphabet (GOOGL - Free Report) , are scheduled to report.

Watch Tesla’s CapEx and Margin PerformanceTesla shares haven’t had a strong showing in 2026 so far, down roughly 15% and underperforming and facing mixed post-earnings reactions. Its results in 2026 have been largely positive from an expectations standpoint, exceeding the Zacks Consensus EPS estimate by double-digit percentages in back-to-back prints.

Both EPS and sales expectations have trended higher over recent months, a bullish development as the company gears up to release its results. Earnings are forecasted to climb 22% YoY, whereas revenue is forecasted to see a 12% YoY climb.

Image Source: Zacks Investment Research

Margins have always been a key metric to watch for Tesla, which have largely dictated its price action overall. Its gross margin on a trailing twelve-month basis has recently turned higher after periods of decline, with continued improvement likely to drive significant overall positivity.

Image Source: Zacks Investment Research

It's also just as critical to rememer that Tesla is entering a massive, heavy-spending cycle, recently raising its 2026 CapEx forecast from $20 billion to over $25 billion. The huge spending levels are primarily aimed at constructing the computational and physical infrastructure needed for its real-world AI initiatives, including data centers to power FSD, the Robotaxi network, and more.

Google Cloud Results Remain KeyAlphabet shares have delivered a return on par with the S&P 500 so far in 2026, up roughly 10% and seeing huge positivity following the latest set of quarterly results. Alphabet has overall continued its stellar earnings track record in 2026, beating both EPS and revenue expectations in each 2026 release so far.

Like TSLA, Alphabet has seen bullish EPS and sales revisions for the quarter to be reported over recent months, but the revisions as of late have been more stable than anything. Though there haven’t been upward revisions recently, the stability here is still a positive takeaway. The tech giant is expected to continue its growth trajectory yet again, with earnings and revenue expected to be up 23% and 24%, respectively.

Image Source: Zacks Investment Research

As has been the case, cloud revenues will again be a key sentiment driver concerning the post-earnings reaction for the Mag 7 member. Google Cloud revenue totaled $20.0 billion in its latest release, reflecting a rock-solid 62.7% YoY growth rate. The growth acceleration is precisely what the market wanted to see, explaining the pop in shares following the latest release.

Further acceleration in the YoY growth rate will likely lead to huge positivity yet again from a share momentum standpoint, though it remains a tough hurdle to clear given the huge growth rates already delivered. Our consensus estimate for Google Cloud revenue stands at $22.8 billion, reflecting a 67% YoY change.

Image Source: Zacks Investment Research

Bottom Line

With the 2026 Q2 earnings season in full swing, investors will have a flurry of earnings reports to sort through in the coming weeks. The big banks kicked the period off in style, largely posting solid results while also providing solid read-throughs for coming periods.

And coming next week is a duo of Magnificent 7 members, namely Tesla (TSLA - Free Report) and Alphabet (GOOGL - Free Report) , who both head into their reports with favorable revisions for both earnings and revenue. Google Cloud results will remain key for Alphabet, whereas Tesla's AI-related CapEx and margin picture are key items to watch.

Customer and stakeholder feedback informs more cost-effective way to reliably serve North Carolina's customers Duke Energy will contribute $10 million to help customers most in need , /PRNewswire/ -- After listening carefully to customer and stakeholder feedback, Duke Energy Carolinas and stakeholders have reached an agreement that will allow the company to continue building the infrastructure needed to reliably serve North Carolina while reducing the proposed rate increase by more than half.

The changes are reflected in a new agreement between the company and North Carolina Public Staff, the agency representing utility customers. Other parties to the agreement include Carolina Industrial Group for Fair Utility Rates, Carolina Utility Customers Association, North Carolina Sustainable Energy Association and Walmart, with others expected to join in the coming days.

Our view: "In light of the cost pressures our customers are facing, along with continued conversations with other stakeholders, we felt we had to do more," said Kendal Bowman, Duke Energy's North Carolina president. "We appreciate our stakeholders' engagement in finding a path that allows us to more cost-effectively serve the Tar Heel State. Our shareholders will also contribute $10 million to low-income bill assistance and weatherization programs – over and above our existing funding – which will make a real difference for customers who need help the most."

The company agreed to pursue similar terms for its Duke Energy Progress customers.

Agreement summary:

If approved by the North Carolina Utilities Commission (NCUC), the result is an average annual increase of 3.7% over two years. 9.8% return on equity and 53% equity component of the capital structure. New Multiyear Rate Plan (MYRP) refund rider will return money to customers, with interest, if planned infrastructure upgrades are not completed on time. Reduced customer costs for Belews Creek reliability upgrades due to federal funding. Why it matters: Since the request was initially filed last November, customers have made clear they're struggling to pay their bills, and Duke Energy has responded.

"We've agreed to reduce rates even more than in our prior settlements, while still allowing us to make vital infrastructure investments to meet existing and future customer needs," said Bowman. "Our duty is to protect reliability at the lowest possible cost, and we believe this agreement achieves that balance."

What's next: NCUC will consider the agreements and make the final decision – if approved, new rates will go into effect Jan. 1, 2027.

Duke Energy Carolinas serves about 2.3 million households and businesses in central and western North Carolina, including Charlotte, Durham and the Triad, while Duke Energy Progress serves about 1.6 million customers in central and eastern North Carolina and in the Asheville region.

Duke Energy Carolinas 

Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 3 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

24-hour media line: 800.559.3853

SOURCE Duke Energy

Bumble Inc. (BMBL - Free Report) ended the recent trading session at $2.92, demonstrating a -3.63% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.01%. Elsewhere, the Dow saw a downswing of 0.77%, while the tech-heavy Nasdaq depreciated by 1.4%.

Prior to today's trading, shares of the company had gained 2.36% outpaced the Computer and Technology sector's loss of 3.73% and the S&P 500's gain of 0.32%.

Market participants will be closely following the financial results of Bumble Inc. in its upcoming release. The company plans to announce its earnings on August 5, 2026. It is anticipated that the company will report an EPS of $0.25, marking a 60.94% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $210.28 million, reflecting a 15.29% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.03 per share and a revenue of $834.42 million, indicating changes of +117.08% and -13.59%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for Bumble Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.06% upward. Right now, Bumble Inc. possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Bumble Inc. is currently trading at a Forward P/E ratio of 2.94. Its industry sports an average Forward P/E of 20.37, so one might conclude that Bumble Inc. is trading at a discount comparatively.

It's also important to note that BMBL currently trades at a PEG ratio of 0.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.11.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

If you want a masterclass in how to lose almost $2 billion in market value in a single week, just look at Pentair (PNR 4.93%). The stock slumped 18.5% at its lowest point in trading this week and hit a new 52-week low of $57.60 per share, according to data provided by S&P Global Market Intelligence.

What went wrong? Try a sudden C-suite exit, a brutal guidance cut, analyst downgrades, and a swarm of securities fraud investigations. It's a trainwreck.

Image source: Getty Images.

Everything that went wrong with Pentair It all started with a gut-punch of a preliminary earnings report. Pentair, which designs and manufactures water solutions from filtration and softening systems to swimming pool equipment, missed its own second-quarter revenue estimates. It expects Q2 sales to be down 17% against its previous guidance of 1% growth.

A pool inventory destocking is to blame. Basically, there's so much inventory out there that the distributors and retailers aren't buying more, hurting Pentair's pool segment's sales and income by $170 million and $105 million, respectively.

Pentair now sees full-year sales falling 4% to 7%. It earlier estimated sales to rise by 2% to 4% this fiscal year. With management also blaming inflation and high interest rates and explicitly stating that business conditions have worsened, the pain is unlikely to fade anytime soon.

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Then came the panic-inducing update of Pentair's Chief Financial Officer, Nicholas Brazis, abruptly quitting to join a private firm. Since he was named CFO just this March, the short stint and sudden exit spooked investors.

Analysts went into panic mode too, slashing their price targets for Pentair stock. Notable downgrades include Deane Dray from RBC Capital slashing the stock's price target from $101 per share to $74 apiece, and Nathan Jones from Stifel cutting the price objective to only $65 per share from $103 a share.

What's next for Pentair stock? Shareholder rights law firms immediately launched investigations into possible securities law violations, questioning internal controls surrounding Pentair's sales forecasts and disclosure of the true health of its sales channels, as well as the circumstances of the CFO's exit.

Where things stand now, it will be an uphill task for Pentair to regain investor confidence.

In the latest close session, DocuSign (DOCU - Free Report) was down 1.2% at $52.74. This change lagged the S&P 500's 1.01% loss on the day. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 1.4%.

The stock of provider of electronic signature technology has risen by 22.8% in the past month, leading the Computer and Technology sector's loss of 3.73% and the S&P 500's gain of 0.32%.

Investors will be eagerly watching for the performance of DocuSign in its upcoming earnings disclosure. In that report, analysts expect DocuSign to post earnings of $1.08 per share. This would mark year-over-year growth of 17.39%. Alongside, our most recent consensus estimate is anticipating revenue of $868.04 million, indicating a 8.42% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.54 per share and revenue of $3.49 billion. These totals would mark changes of +18.23% and +8.53%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for DocuSign. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1% rise in the Zacks Consensus EPS estimate. As of now, DocuSign holds a Zacks Rank of #3 (Hold).

Investors should also note DocuSign's current valuation metrics, including its Forward P/E ratio of 11.76. This denotes a discount relative to the industry average Forward P/E of 20.37.

We can additionally observe that DOCU currently boasts a PEG ratio of 0.7. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.11.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Fifth Third Bancorp (FITB) Q2 2026 Earnings Call July 17, 2026 9:00 AM EDT

Company Participants

Matt Curoe - Senior Director of Investor Relations
Timothy Spence - Chairman, CEO & President
Bryan Preston - Executive VP & CFO

Conference Call Participants

Ebrahim Poonawala - BofA Securities, Research Division
Manan Gosalia - Morgan Stanley, Research Division
Ryan Nash - Goldman Sachs Group, Inc., Research Division
L. Erika Penala - UBS Investment Bank, Research Division
Gerard Cassidy - RBC Capital Markets, Research Division
Michael Mayo - Wells Fargo Securities, LLC, Research Division
John Pancari - Evercore ISI Institutional Equities, Research Division
Brian Foran - Truist Securities, Inc., Research Division
Benjamin Gerlinger - Citigroup Inc., Research Division
Kenneth Usdin - Bernstein Autonomous LLP
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Operator

Hello, everyone. Thank you for joining us, and welcome to the Fifth Third's Second Quarter Earnings Call. [Operator Instructions]

I will now hand the conference over to Matt Curoe, Director of Investor Relations. Please go ahead.

Matt Curoe
Senior Director of Investor Relations

Good morning, everyone. Welcome to Fifth Third's Second Quarter 2026 Earnings Call. This morning, our Chairman, CEO and President, Tim Spence; and CFO, Bryan Preston, will provide an overview of our second quarter results and outlook.

Please review the cautionary statements in our materials, which can be found in our earnings release and presentation. These materials contain information regarding the use of non-GAAP measures and reconciliations to the GAAP results as well as forward-looking statements about Fifth Third's performance. These statements speak only as of July 17, 2026, and Fifth Third undertakes no obligation to update them. Following prepared remarks by Tim and Bryan, we will open up the call for questions.

With that, let me turn it over to Tim.

Timothy Spence
Chairman, CEO & President

Good morning, everyone, and thank you for joining us. At Fifth

NEW YORK--(BUSINESS WIRE)--Today, prominent investor rights law firm Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) filed a class action in the U.S. District Court for the District of Delaware alleging violations of the federal securities laws by AeroVironment, Inc. (“AeroVironment” or the “Company”) and certain of the Company’s current senior executives (collectively, “Defendants”). The action is brought on behalf of all investors who purchased or otherwise acquired AeroVironment common stock beginning at 4:30 PM ET on June 24, 2025, through June 18, 2026, inclusive (the “Class Period”). This case is related to a previously filed securities class action pending against AeroVironment captioned Norrell v. AeroVironment, Inc., No. 1:26-cv-1429 (E.D. Va. filed May 26, 2026) (“Norrell”).

BLB&G filed this action on behalf of its client, City Pension Fund for Firefighters and Police Officers in the City of Miami Beach, and the case is captioned City Pension Fund for Firefighters and Police Officers in the City of Miami Beach v. AeroVironment, Inc., No. 26-cv-00875 (D. Del.). The complaint is based on an extensive investigation and a careful evaluation of the merits of this case. A copy of the complaint is available on BLB&G’s website by clicking here.

AeroVironment’s Alleged Fraud

AeroVironment is a defense technology provider across air, land, sea, space, and cyber. Shortly before the Class Period, AeroVironment acquired BlueHalo, LLC (“BlueHalo”), another defense technology company with a leading role in the U.S. Department of Defense’s (“DoD”) Satellite Communications Augmentation Resource (“SCAR”) program. Through SCAR, BlueHalo had been awarded a contract valued at approximately $1.7 billion to develop military satellite command and control stations known as Broad Area Deployable Ground Terminal Enabling Resilient Communications (“BADGERs”).

The claims against AeroVironment and certain of its executives arise from misrepresentations relating to the SCAR contract. Throughout the Class Period, Defendants repeatedly touted the SCAR program as central to AeroVironment’s growth prospects. Defendants told investors that the Company had “won” the SCAR contract, that it was “locked in,” that the customer was “asking for more,” and that the Company was “very much on track” to ramp revenue and improve margins as more BADGER systems moved into production. In truth, AeroVironment’s agreement with the U.S. DoD to produce BADGERs for the SCAR program was not secure, as AeroVironment was facing a significant threat of competition from other vendors for the work it was performing under that agreement, and there was a material risk that the Company would not continue to deliver products for the SCAR program, or would do so only on a significantly reduced basis.

The truth began to emerge on January 20, 2026, when AeroVironment announced that the U.S. Government had issued a stop work order on the SCAR contract. As a result of this disclosure, the price of AeroVironment common stock declined by $61.97 per share, or 16%. Then, on March 2, 2026, industry publication Space News reported that the U.S. DoD was reopening the SCAR program and soliciting proposals from vendors other than AeroVironment because the Space Force was “reassessing how to move forward.” That news caused the price of AeroVironment common stock to decline by $43.93 per share, or 17%.

On March 10, 2026, AeroVironment revealed that the U.S. Government intended to terminate the SCAR agreement, while allowing AeroVironment to compete for future work under the program. The Company also reported a $151.3 million goodwill impairment charge in the Space reporting unit triggered by the SCAR stop work order. These disclosures caused the price of AeroVironment common stock to decline by $13.84 per share, or 6%. Then, on June 22, 2026, AeroVironment disclosed that its previously issued financial statements should no longer be relied upon because the Company had understated the goodwill impairment charge by $89.4 million, or 59%. AeroVironment further disclosed that the restatement resulted from a newly identified material weakness in internal control over financial reporting and that its disclosure controls and procedures as of January 31, 2026, were ineffective. As a result of these disclosures, the price of AeroVironment common stock declined by $18.28 per share, or 11%.

The filing of this action does not alter the previously established deadline to seek appointment as Lead Plaintiff. Pursuant to the May 27, 2026, notice published in connection with the Norrell action, under the Private Securities Litigation Reform Act of 1995, investors who purchased AeroVironment common stock during the Class Period may, no later than July 27, 2026, seek to be appointed as Lead Plaintiff for the Class. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Scott R. Foglietta of BLB&G at 212-554-1903, or via e-mail at [email protected].

About BLB&G

BLB&G is widely recognized worldwide as a leading law firm advising institutional investors on issues related to corporate governance, shareholder rights, and securities litigation. Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity and pioneered the use of the litigation process to achieve precedent-setting governance reforms. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering over $40 billion on behalf of defrauded investors. More information about the firm can be found online at www.blbglaw.com.

The aisles are packed with the same bulk goods you would find in a California suburb: 50-pound bags of rice, high-end electronics, and automotive supplies. But this isn't California. It's a shopping hub in the Caribbean, and the customers waiting in line are members of PriceSmart (PSMT 1.61%), a company that has exported the U.S. warehouse club model to the emerging markets of Latin America and the Caribbean. Trading at $194.56 as of July 14, 2026, the stock has rallied over 80% over the past year, reflecting investor appetite for its consistent, consumption-based business model despite regional headwinds.

Our proprietary Hidden Gems scoring system assigns PriceSmart an overall Superscore of 79 out of 100, placing it in the Strong category. The Superscore is an AI-powered score that evaluates a company's overall strength by combining financial performance, product market position, technological capabilities, leadership quality, and relative valuation. It represents the unification of all our scores into a single score for public companies, with five rating bands: Exceptional (90-100), Strong (75-89), Above Average (60-74), Average (40-59), and Cautious (0-39).

Image source: Getty Images.

Why PSMT Has a 79 SuperscoreDisciplined expansion: Management has successfully scaled the footprint to 57 clubs as of May 31, 2026, with an active pipeline of new locations in Chile, Costa Rica, and the Caribbean, driving reliable growth in its store count.Pricing power: The company had successfully implemented a $5 membership fee increase in fiscal 2024 without triggering significant churn, confirming that the membership value proposition remains sticky.Recurring revenue: Membership renewal rates have shot up to 90.5% as of the third quarter of 2026, providing a predictable, high-margin revenue base that serves as a critical buffer against the inherent volatility of the retail sector.Operational modernization: Investments in the RELEX supply chain platform and the Elera point-of-sale system are actively removing operational friction, allowing for better inventory management and deeper digital member engagement.Why Is PSMT's Superscore Not Higher?Currency volatility: Operations span diverse economies across Latin America and the Caribbean, meaning foreign exchange shifts often pressure reported margins, even when underlying constant-currency performance remains robust.Valuation premium: The stock trades at a trailing P/E of 37.34, a high multiple that implies significant future growth expectations, potentially leaving little margin for error if expansion velocity slips.Regional dependence: The company is inherently tied to the economic health and political stability of its operating regions, introducing a structural risk profile that is more complex than that of domestic retail peers.Hidden Gems Database Scores at a GlanceScoreScore (out of 100)Supporting Data PointProduct (1Y)83Operational momentum is driven by a 13.7% increase in membership income and the successful rollout of advanced technology stacks like RELEX.Product (5Y)74The company maintained a 9.8% revenue CAGR from 2021 to 2025, demonstrating steady execution in a niche regional market.Financial (1Y)73Fiscal 2025 results featured a 25.9% surge in operating cash flow to $261.3 million, highlighting improved conversion efficiency.Financial (5Y)74Consistent profitability has been underpinned by stable net margins of 2.7% and a low debt-to-equity ratio of 0.26 as of fiscal 2025.Leaders95Management maintains a transparent, long-term capital allocation strategy with a 99.3% shareholder approval rating on compensation policies.AI17The business operates as a traditional retailer without the proprietary datasets required for advanced data-driven competitive advantages.Valuation Risk53The stock carries a trailing P/E of 37.34, which suggests the market has already priced in substantial future growth.Who Should Buy PSMT Stock Now?You should consider investing if...

You are seeking long-term exposure to emerging market growth through established consumer staples stocks that benefit from a sticky, membership-based recurring revenue model.You are comfortable with geographic diversification outside of the U.S. and believe the warehouse club format will continue to gain traction among growing middle-class families in Latin America.You may want to avoid this stock if...

You have a low tolerance for the currency fluctuations and macroeconomic instability that often impact retailers operating in developing regional markets.You prioritize bargain-priced stocks, as the current valuation appears to fully account for the company's expansion roadmap and leaves little room for operational disappointments.The Superscore serves as a data-driven foundation for research, but investors should always weigh this framework against their personal risk tolerance and financial goals before making an investment decision.

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My 5-year prediction for PSMT stockPriceSmart’s growth strategy is centered around expanding its warehouse club network across Latin American and the Caribbean. It’s a membership-based retail outlet that benefits from increasing demand among consumers to shop at lower-cost stores.

In addition, PriceSmart has a large number of loyal customers who continue to purchase items at their stores due to lower prices and superior services. In the third quarter, net merchandise sales grew 12.5%, with comparable sales growing 10.7% year over year. Importantly, membership grew at a solid clip of 8.6% to 2.1 million, while renewal rates hit an all-time high of 90.5%. Membership income grew 17.6%, thanks to management rolling out an auto-renewal strategy.

PriceSmart is developing its regional footprint, with Chile set to open its first club in a Santiago mall. Management is investing $100 million for three clubs and supporting offices over the next few years.

Over the next five years, I wouldn’t be surprised if sales continue to grow in the low- to mid-double-digit range. However, management also acknowledged near-term headwinds as selling, general, and administrative (SG&A) costs spike when new clubs come online. Additionally, uncertain trade policies could also weigh on growth.

Overall, PriceSmart remains a solid long-term investment, with momentum firmly on the business’s side.

The Hidden Gems Superscore reflects The Motley Fool's proprietary AI-driven evaluation of a company across product, financial, leadership, and valuation pillars as of the article date and may change over time. Performance figures are point-in-time. Past performance does not guarantee future results.

Key Takeaways D-Wave Quantum has fallen 29.4% in July amid profit-taking, valuation concerns and macro headwinds.QBTS plans a Nasdaq listing transfer and expanded quantum research with an NSF-backed subsidiary grant.QBTS faces weak technical signals as investors await second-quarter earnings and further execution updates. The sharp pullback in D-Wave Quantum (QBTS - Free Report) this month has shifted investor attention from the quantum computing sector's long-term promise to its near-term execution risks. After delivering substantial gains earlier this year, the stock has fallen 29.4% month to date, underperforming the Computer and Technology sector's 1.4% decline and the S&P 500's 1.2% gain.

The weakness reflects a combination of profit-taking after the stock's outsized gains earlier this year, valuation concerns across high-growth quantum names and a macroeconomic backdrop marked by elevated U.S. Treasury yields and expectations that the Federal Reserve will keep interest rates higher for longer. These conditions have weighed disproportionately on speculative technology stocks despite continued enthusiasm for artificial intelligence and quantum computing.

During the same period, QBTS' pure-play quantum computing peers, IonQ (IONQ - Free Report) and Rigetti Computing (RGTI - Free Report) , also witnessed sharp share price declines of 34.1% and 27%, respectively.

Month-to-Date Share Price Comparison
Image Source: Zacks Investment Research

Will July Catalysts Change QBTS' Trajectory?D-Wave Quantum will report its second-quarter earnings in early August. While the stock has remained under pressure amid a broader selloff of speculative growth companies, the company's strategic execution continues to advance. Most notably, D-Wave announced plans to transfer its listing from the NYSE to the Nasdaq later this month, a move expected to enhance its visibility among technology-focused investors and potentially broaden its shareholder base. The company also disclosed that its Quantum Circuits subsidiary received a U.S. National Science Foundation grant to support research in fault-tolerant quantum computing, further strengthening D-Wave's expansion beyond quantum annealing into gate-model quantum systems.

The broader industry backdrop also remains constructive. NVIDIA (NVDA - Free Report) recently introduced an open-source AI decoder that significantly improves quantum error-correction performance, while IBM reaffirmed plans to invest more than $10 billion in quantum technologies over the coming years. Meanwhile, governments across the United States and Europe continue to expand funding for quantum research and commercialization. These developments strengthen the long-term growth opportunity for the sector, although they are yet to offset near-term concerns surrounding elevated valuations, higher Treasury yields and a "higher-for-longer" interest-rate environment that continues to put pressure on pre-profit technology companies.

What Do the Estimates Say?The earnings estimate chart indicates that D-Wave is expected to report a second-quarter loss of 8 cents per share, representing an 85.5% improvement from the year-ago quarter. For full-year 2026, the consensus estimate calls for a loss of 25 cents per share, reflecting a 77.5% improvement from 2025. Despite the broader market selloff, the absence of estimate revisions suggests that analysts have adopted a wait-and-see stance ahead of the company's second-quarter earnings release.

Image Source: Zacks Investment Research

Technical Pressure RemainsThe technical picture remains weak. As the chart shows, QBTS is trading well below both its 50-day SMA and 200-day SMA, indicating sustained bearish momentum. While the sharp correction reflects deteriorating near-term sentiment, upcoming catalysts, including the Nasdaq listing transition and second-quarter earnings, could determine whether the stock stabilizes or extends its decline.

QBTS 50-&-200-Day SMAs
Image Source: Zacks Investment Research

Our TakeDespite near-term macro headwinds and a weak technical setup, D-Wave's strengthening fundamentals and strategic execution support a constructive long-term outlook. The planned Nasdaq listing, continued expansion into gate-model quantum computing and strong earnings expectations position the company favorably ahead of its second-quarter results. Consistent with its Zacks Rank #2 (Buy), we believe the recent pullback offers a buying opportunity for investors willing to look beyond near-term volatility, while recognizing that technical weakness may persist until fresh business catalysts emerge. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Microsoft NASDAQ:MSFT shares fell 1.5% on Friday, extending a difficult year for the software giant as investors continued to weigh heavy artificial intelligence spending against the company's long-term growth prospects.

The stock has declined more than 20% in 2026 and nearly 23% over the past year, even as Microsoft has continued investing aggressively in AI infrastructure and Azure cloud services.

Several Wall Street firms revised their price targets this week ahead of Microsoft's fiscal fourth-quarter earnings report on July 29, while largely maintaining bullish ratings on the stock.

Wall Street lowers targets but maintains bullish ratingsCiti reduced its price target on Microsoft to $570 from $620 while maintaining a Buy rating.

According to reports, the firm said the lower target reflected broader valuation compression across software stocks rather than any deterioration in Microsoft's business fundamentals.

The bank said its channel checks remained positive, highlighting healthy adoption of Microsoft 365 Copilot and the company's positioning as enterprises increasingly optimize AI spending.

Citi expects Microsoft to deliver a strong fiscal fourth-quarter report but believes investors will focus closely on management's outlook for fiscal 2027, particularly regarding operating margins and capital expenditure.

Other brokerages also adjusted their targets.

Mizuho analyst Gregg Moskowitz lowered his price target to $490 from $515 while maintaining an Outperform rating.

"SaaS (software-as-a-service) continues to be resilient, although multiples continue to be plagued by investor concerns about AI-led disruption," Moskowitz said in a research report on software stocks.

He added that Microsoft continues to see improvement in its Azure cloud computing and Microsoft 365 Copilot businesses despite broader concerns surrounding AI-native competitors and infrastructure spending.

Wells Fargo also lowered its price target to $625 from $650 while maintaining its Overweight rating, citing questions around cloud market share and the pace of capital expenditure.

Evercore ISI moved in the opposite direction, raising its price target to $525 from $510 while maintaining an Outperform rating.

Microsoft is scheduled to report fiscal fourth-quarter results after the market closes on July 29.

Consensus estimates compiled by Fiscal AI and Koyfin call for earnings of $4.24 per share on revenue of $86.66 billion.

Analysts expect Azure growth and operating margin guidance to be the primary focus during the earnings release.

While Citi expects the fourth-quarter results to be solid, the firm believes management's commentary on fiscal 2027 could prove more important for investors as Microsoft continues expanding its AI infrastructure.

Heavy AI investments remain under scrutinyMicrosoft's aggressive capital spending remains one of the biggest concerns for investors.

The company spent $30.88 billion on capital expenditures during its fiscal third quarter, up 84.4% from a year earlier.

According to Forbes estimates, Microsoft's total fiscal 2026 capital expenditure could reach approximately $190 billion as the company continues investing in AI data centers, Azure infrastructure and computing capacity.

The elevated spending has pressured margins and free cash flow, contributing to the stock's underperformance despite continued business growth.

At the same time, analysts note that enterprise demand for AI remains healthy.

Bernstein's mid-year CIO survey pointed to strong IT budget growth in 2026, supporting Azure demand, although investors continue to monitor whether Microsoft can translate that investment into market share gains and stronger financial returns.

Key Takeaways AT&T reports Q2 earnings on July 22, with the model indicating a likely earnings beat.T expanded enterprise connectivity, connected car services and flexible consumer wireless offerings.AT&T is investing in fiber expansion, but intense telecom remain a challenge. AT&T Inc. (T - Free Report) is scheduled to report second-quarter 2026 earnings on July 22, before the opening bell. The Zacks Consensus Estimate for revenues and earnings is pegged at $32.04 billion and 59 cents per share, respectively. The earnings estimate for AT&T for 2026 has increased 0.43% to $2.32 per share over the past 60 days, while the same for 2027 has increased 0.79% to $2.55 per share.

Image Source: Zacks Investment Research

Earnings Surprise HistoryThe communications service provider delivered a trailing four-quarter earnings surprise of 5.19%, on average.

Image Source: Zacks Investment Research

Earnings WhispersOur proven model predicts a likely earnings beat for AT&T for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is exactly the case here. AT&T currently has an ESP of +4.83% and a Zacks Rank #3.

You can see the complete list of today’s Zacks #1 Rank stocks here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Factors Shaping the Upcoming ResultsDuring the quarter, AT&T strengthened its enterprise connectivity portfolio with several strategic initiatives. The company launched North America's first Post-Quantum Cryptography (PQC)-enabled Software-Defined Wide Area Network (SD-WAN) service in collaboration with Cisco. The solution is designed to help enterprises protect sensitive data against emerging quantum computing-related cyber threats.

The company also expanded its connected vehicle ecosystem by extending its collaboration with Cisco and LiveOne. The enhanced Connected Car platform integrates in-vehicle connectivity with digital entertainment services. Such innovative product launches are expected to have a positive impact on upcoming results.

In the to be reported quarter, the company continued to expand its consumer connectivity offerings by introducing the Unlimited Day Pass for eligible iPad users. The on-demand service provides flexible wireless connectivity without requiring a long-term subscription.
AT&T also reaffirmed its long-term commitment to fiber and wireless expansion by announcing a $19 billion investment in California through 2030. The initiative aims to extend fiber connectivity to more than 4 million additional households and businesses.

However, AT&T continues to face intense competition in the U.S. telecom market from Verizon Communications, Inc. (VZ - Free Report) and Charter Communications (CHTR - Free Report) . This could limit subscriber additions and weigh on revenue growth.

Price PerformanceOver the past year, AT&T has declined 17.5% against the industry’s growth of 83.2%, outperforming its peers like Charter but underperforming Verizon. Charter has declined 65%, while Verizon has improved 8.8% during this period.

Image Source: Zacks Investment Research

Key Valuation MetricFrom a valuation standpoint, AT&T appears to be trading relatively cheaper than the industry and below its mean. Going by the price/earnings ratio, the company shares currently trade at 9.03 forward earnings, lower than 44.18 for the industry and the stock’s mean of 11.4

Image Source: Zacks Investment Research

Investment ConsiderationsAT&T is aggressively expanding its fiber footprint. The company has reached more than 37 million fiber locations, the highest in America. It is aiming to expand this footprint to more than 60 million locations by the end of the decade. Fiber is emerging as a critical component for AI native connectivity, cloud applications, streaming, gaming, enterprise workloads and next-generation digital experiences. Amid this backdrop, AT&T’s continuous investment in developing a robust fiber architecture nationwide will likely bring long-term benefits.

However, the U.S. telecom market is highly competitive. Major rivals like Verizon and Charter are also aggressively investing in fiber, fixed wireless access, and customer acquisition. T must continue offering attractive pricing, bundled services and network improvements to maintain subscriber growth. In the wireless domain, T-Mobile is also rapidly expanding its 5G network. This could pose a threat to AT&T’s wireless subscriber growth.

It has been implementing several initiatives to drive customer retention over the past several quarters. Its convergence strategy has become one of the central pillars of these retention efforts. The company is focused on increasing the number of households that subscribe to both AT&T wireless and broadband services, including AT&T Fiber and AT&T Internet Air.

When customers get dependent on multiple services from a single vendor, it becomes difficult for them to change service providers. From a user’s point of view, opting for fiber and wireless services from a single vendor reduces complexity for them as well. This trend improves customer retention, lowers churn and increases long-term customer value.

AT&T continues to experience steep declines in legacy wireline and copper-based services as customers migrate to newer technologies. The company's long-term growth story relies on massive investments in fiber and wireless infrastructure. It is accelerating fiber deployment, investing $19 billion in California alone through 2030, which places pressure on free cash flow.

End NoteAT&T continues to invest in fiber and 5G to expand advanced Internet reach and drive more households to buy wireless and home Internet together. Management expects fiber reach to grow by about 8 million locations in 2026, including over 4 million locations acquired from Lumen, and remains on track to reach over 40 million total fiber locations by the end of 2026. The effort of portfolio expansion and venture into new high-growth markets, such as network security and automotive, is a positive.

 However, the U.S. wireless market remains saturated. This makes the market highly price sensitive and limits average revenue per user growth. Amid stiff competition from other major players, the company has to continuously invest in network upgrades and improve customer experience to maintain its market share, which impacts profitability. With a Zacks Rank #3 (Hold), AT&T appears to be treading in the middle of the road, and new investors could be better off if they trade with caution.

, /PRNewswire/ -- The Board of Directors of PepsiCo, Inc. (NASDAQ: PEP) today declared a quarterly dividend of $1.48 per share of PepsiCo common stock, a 4 percent increase versus the comparable year-earlier period. Today's action is consistent with PepsiCo's previously announced increase in its annualized dividend to $5.92 per share from $5.69 per share, which began with the June 2026 payment. This dividend is payable on September 30, 2026 to shareholders of record at the close of business on September 4, 2026. PepsiCo has paid consecutive quarterly cash dividends since 1965, and 2026 marked the company's 54th consecutive annual dividend increase. 

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $94 billion in net revenue in 2025, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCo.

Cautionary Statement
Statements in this release that are "forward-looking statements" are based on currently available information, operating plans and projections about future events and trends. Forward-looking statements inherently involve risks and uncertainties. For information on certain factors that could cause actual events or results to differ materially from our expectations, please see PepsiCo's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE PepsiCo, Inc.

July 17, 2026 16:15 ET  | Source: Royalty Pharma plc

NEW YORK, July 17, 2026 (GLOBE NEWSWIRE) -- The board of directors of Royalty Pharma plc (Nasdaq: RPRX) has approved the payment of a dividend for the third quarter of 2026 of $0.235 per Class A ordinary share.

The dividend will be paid on September 10, 2026, to shareholders of record at the close of business on August 14, 2026.

About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 19 development-stage product candidates. For more information, visit www.royaltypharma.com.

Royalty Pharma Investor Relations and Communications
+1 (212) 883-6772
[email protected]

, /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the "Offer to Purchase"), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the "DGH Issuer") and Discovery Communications, LLC (the "DCL Issuer" and together with the DGH Issuer, each a "WBD Issuer" and collectively the "WBD Issuers"), as applicable, and (ii) offers to exchange (the "Exchange Offers" and each, an "Exchange Offer" and, together with the Tender Offers, the "Offers" and each, an "Offer"), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the "Offering Memorandum"), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the "Offer Notes") issued by the applicable WBD Issuer for notes to be newly issued by Paramount.

The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m., New York City time, on July 31, 2026, unless further extended. The Settlement Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) will occur promptly after the Expiration Date and are currently anticipated to occur in the third quarter of 2026. Paramount anticipates extending the Expiration Date for such Tender Offers and Exchange Offers until such time that would result in the Settlement Dates occurring on or promptly following the closing date of the proposed acquisition (the "Acquisition") by Paramount of Warner Bros. Discovery, Inc. ("WBD"). Tenders of the Offer Notes in the Offers may be withdrawn at any time prior to the Expiration Date. The aforementioned extensions further extend the Expiration Dates previously extended by Paramount on June 12, 2026, June 26, 2026, and July 13, 2026.

As of 5:00 p.m., New York City time, on July 16, 2026, approximately 66.16% and 75.95% of the aggregate principal amount of the Existing Tender Offer Notes and Existing Exchange Offer Notes, respectively, have been validly tendered in the applicable Offers. As Paramount previously announced that it anticipates extending the Offers to align with the closing date of the Acquisition, Paramount does not view these figures to be representative of the final results of the applicable Offers.

Information about each series of Offer Notes eligible to participate in the Offers is summarized below.

Type of Offer

Offer Notes to be Tendered
or Exchanged, as
Applicable

Issuer of Offer Notes

CUSIP No. / Common Code
/ ISIN Eligible to
Participate in the Offers (1)

Aggregate Principal
Amount of Offer Notes
Eligible to Participate in the
Offers (2)

Tender Offer

3.950% Senior Notes due
2028

DCL Issuer

25470D CP2

US25470DCP24

$1,234,458,000

Exchange Offer

4.125% Senior Notes due
2029

DCL Issuer

25470D CQ0

US25470DCQ07

$655,825,000

Exchange Offer

3.625% Senior Notes due
2030

DCL Issuer

25470D CR8

US25470DCR89

$914,183,000

Exchange Offer

5.000% Senior Notes due
2037

DCL Issuer

25470D CS6

US25470DCS62

$453,281,000

Exchange Offer

6.350% Senior Notes due
2040

DCL Issuer

25470D CT4

US25470DCT46

$438,102,000

Exchange Offer

4.950% Senior Notes due
2042

DCL Issuer

25470D CU1

US25470DCU19

$130,366,000

Exchange Offer

4.875% Senior Notes due
2043

DCL Issuer

25470D V91
CV9US25470DC

$141,584,000

Exchange Offer

5.200% Senior Notes due
2047

DCL Issuer

25470D W74
CW7US25470DC

$3,161,000

Exchange Offer

5.300% Senior Notes due
2049

DCL Issuer

25470D X57
CX5US25470DC

$247,860,000

Tender Offer

3.755% Senior Notes due
2027

DGH Issuer

254948 AH5

US254948AH58

254948 AN2

US254948AN27

U25483 AA3

USU25483AA38

$1,189,336,000

Exchange Offer

4.054% Senior Notes due
2029

DGH Issuer

254948 AJ1

US254948AJ15

254948 AP7

US254948AP74

U25483 AB1

USU25483AB11

$1,353,828,000

Exchange Offer

4.279% Senior Notes due
2032

DGH Issuer

254948 AK8

US254948AK87

254948 AQ5

US254948AQ57

$2,691,764,000

Exchange Offer

5.050% Senior Notes due
2042

DGH Issuer

254948 AL6

US254948AL60

254948 AR3

US254948AR31

U25483 AD7

USU25483AD76

$4,104,687,000

Exchange Offer

5.141% Senior Notes due
2052

DGH Issuer

254948 AM4

US254948AM44

254948 AS1

US254948AS14

$949,883,000

Exchange Offer

4.302% Senior Notes due
2030

DGH Issuer

XS3393993285

339399328

€234,382,000

Exchange Offer

4.693% Senior Notes due
2033

DGH Issuer

XS3393994507

339399450

€316,641,000

__________

(1)

No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Offer Notes. Such identifiers are provided solely for the convenience of the holders.

(2)

Represents the aggregate principal amount of Offer Notes outstanding that are eligible to participate in the Offers.

The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations of the Securities and Exchange Commission (the "SEC") promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable Existing Exchange Offer Notes who are (a) reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act or (b) not "U.S. persons," as defined in Rule 902 of Regulation S under the Securities Act (such holders, "Eligible Holders"), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount. 

General

Each Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount's sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.

The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder's Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.

Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the "Exchange Agent") and information agent (in such capacity, the "Information Agent") for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at [email protected]. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount. 

Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the "Dealer Managers") for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or [email protected] or Citigroup Global Markets Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 or [email protected]. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Paramount, a Skydance Corporation

Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.

PSKY-IR

Cautionary Note Concerning Forward-Looking Statements

This communication contains "forward-looking statements" regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the "Combined Company"); the adverse impact on the Combined Company's advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company's decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company's content; damage to the Combined Company's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company's intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company's business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company's operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," Paramount's most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 4, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and Paramount's subsequent filings with the SEC, and in WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned "Item 1A. Risk Factors," WBD's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD's subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.

SOURCE Paramount Skydance Corporation

Key Takeaways CWT plans $627 million in 2026 and $667 million in 2027 for infrastructure upgrades.Cal Water's approved $1.45 billion plan allows annual revenues increases through 2028.CWT expects rate base growth above 11.1% annually, exceeding $3.2 billion by 2027. California Water Service Group (CWT - Free Report) is benefiting from strategic investments that support the upgrade and replacement of aging infrastructure. These investments focus on improving system reliability, enhancing water quality and boosting operational efficiency, thereby strengthening service delivery.

The company plans to invest $627 million in 2026 and $667 million in 2027, respectively, to support rate base expansion and sustainable long-term earnings growth.  These investments strengthen infrastructure, support PFAS treatment, improve efficiency, enhance water system reliability and address quality requirements.

Recently, CWT’s subsidiary, Cal Water, received approval from the California Public Utilities Commission to invest $1.45 billion through 2027 in water quality, system reliability, power-outage resilience, cybersecurity and long-term water supply projects. The decision allows the company to increase annual revenues by $90.5 million in 2026, $43.2 million in 2027 and $48.9 million in 2028.

CWT expects infrastructure and other capital investments to support a more than 11.1% compound annual rate base growth, with the rate base projected to exceed $3.2 billion by 2027.

The company’s planned acquisition of water and wastewater systems could expand its customer base and create additional infrastructure investment opportunities. Overall, continued capital spending, regulatory support and rate-base growth could provide a strong foundation for sustainable earnings growth, although regulatory approvals, financing costs and execution risks remain important considerations.

Aging Water Utility Infrastructure Calls for UpgradesAs per the U.S Environmental Protection Agency, nearly $1.25 trillion will be needed over the next 20 years for water and wastewater infrastructure improvements. Aging water infrastructure creates investment opportunities as utilities replace old pipelines, upgrade treatment facilities and improve system reliability

American Water Works (AWK - Free Report) continues to invest in upgrading, expanding and maintaining its water and wastewater infrastructure. The company plans to spend $3.7 billion in 2026 and $19-$20 billion from 2026 through 2030 to support system reliability and long-term growth.

American States Water (AWR - Free Report) plans to invest $185-$225 million in 2026 to strengthen and improve infrastructure, support rate base growth and create long-term financial opportunities.

The Zacks Rundown on CWTCWT’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 19.07% and 7.03%, respectively.

Image Source: Zacks Investment Research

Debt to CapitalCWT's debt-to-capital ratio currently stands at 50.29%, lower than the Zacks Utility- Water Supply industry’s 54.63%.

Image Source: Zacks Investment Research

CWT’s Stock Price PerformanceIn the past month, the company’s shares have risen 13.6% compared with the industry’s 8.6% growth.

Image Source: Zacks Investment Research

CWT’s Zacks Rank

Key Takeaways Harmony Biosciences reported about $261M in preliminary Q2 2026 Wakix net product revenues, up 30% Y/Y.HRMY reaffirmed 2026 net product revenue guidance of $1.0-$1.04B after a strong first half.HRMY advances pitolisant programs and named an interim finance chief after its CFO stepped down. Harmony Biosciences (HRMY - Free Report) announced preliminary second-quarter 2026 results.

The company registered a record $261 million in net product revenues from its lead drug, Wakix (pitolisant).

Wakix received FDA approval in August 2019 to treat excessive daytime sleepiness (EDS) in adults with narcolepsy and was launched in the United States in November 2019. In October 2020, the FDA expanded its approval to include the treatment of cataplexy in adults with narcolepsy.

Revenues increased 30% year over year and 21% sequentially from the first quarter, reflecting continued strong demand and solid commercial execution.

Encouraged by its first-half performance, the company reiterated its full-year 2026 net product revenue guidance of $1.0 billion to $1.04 billion, signaling confidence in sustained growth for the remainder of the year.

Harmony is scheduled to report its complete second-quarter 2026 financial results and provide a business update on Aug. 4, 2026.

Shares of HRMY have lost 10.4% year to date against the industry’s 1.7% gain.

Image Source: Zacks Investment Research

HRMY’s CFO Steps DownHarmony announced that chief financial officer (CFO) Glenn Reicin has stepped down, effective July 16, 2026, to pursue other opportunities.

The company appointed Stephen Mollichella, currently senior vice president and controller, as interim principal financial officer while it conducts a search for a permanent CFO.

HRMY’s Efforts to Strengthen BusinessHarmony is pursuing label expansion opportunities for pitolisant beyond narcolepsy, targeting rare neurological disorders such as Prader-Willi syndrome (PWS) and myotonic dystrophy type 1 (DM1).

The company is conducting the phase III TEMPO study in PWS, supported by FDA alignment, which has the potential to serve as the registrational trial and support the company’s efforts to seek pediatric exclusivity for pitolisant.

The FDA granted Orphan Drug designation to pitolisant for the treatment of PWS in 2024.

In DM1, phase II data demonstrated meaningful improvements in EDS and fatigue, supporting further development.

Wakix has also expanded into the pediatric narcolepsy market, with FDA approval for EDS in 2024.

In February 2026, the FDA also approved Wakix for the treatment of cataplexy in patients six years and older with narcolepsy, providing additional long-term growth opportunities for the franchise.

Meanwhile, Harmony is advancing two next-generation formulations of pitolisant to strengthen and extend this franchise.

The company is on track to submit a new drug application for pitolisant GR (gastro-resistant) shortly. A decision from the FDA is expected in the first quarter of 2027. The formulation features an enteric coating designed to reduce gastrointestinal side effects, allowing patients to start treatment at a therapeutic dose without titration. Harmony has filed utility patents that could extend the pitolisant franchise into the 2040s.

HRMY is also developing pitolisant HD (high dose) to further expand the franchise. Phase III studies are underway in narcolepsy (ONSTRIDE 1) and idiopathic hypersomnia (ONSTRIDE 2), with top-line data expected in 2027. The enhanced formulation is designed to improve efficacy through optimized pharmacokinetics, an enteric coating and a higher dose, while supporting differentiated labeling for fatigue in narcolepsy and sleep inertia in idiopathic hypersomnia. Utility patents for Pitolisant HD have also been filed, supporting franchise protection into the 2040s.

HRMY’s Zacks Rank and Other Stocks to Consider HRMY currently carries a Zacks Rank #1 (Strong Buy). A couple of other top-ranked stocks from the sector are Liquidia Corporation (LQDA - Free Report) and Novavax (NVAX - Free Report) , each sporting a Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share (EPS) have increased from $2.97 to $3.02. Over the same period, EPS estimates for 2027 have also increased from $4.81 to $4.92. LQDA shares have skyrocketed more than 118.3% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 60 days, estimates for Novavax’s 2026 loss per share have narrowed from 20 cents to 19 cents. Over the same period, loss per share estimates for 2027 have narrowed from 31 cents to 25 cents. NVAX shares have gained nearly 22.7% year to date.

Novavax’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 305.24%.

Key Takeaways DOCS is expanding AI with rising physician use and early AI Search contracts with top-20 pharma companies.Doximity's Clinical AI Suite now serves 140 health systems, supporting retention and cross-selling.DOCS expects AI investment to trim margins as regulatory reviews delay meaningful revenue contribution. Doximity (DOCS - Free Report) is entering a pivotal phase as it accelerates investments in artificial intelligence to expand beyond its core physician engagement platform. While robust physician adoption, growing enterprise AI deployments and exceptional cash generation strengthen its long-term outlook, a sluggish pharma advertising market, rising AI investments and commercialization risks could temper near-term financial performance.

Shares of this Zacks Rank #3 (Hold) company have lost 49.8% so far this year compared with the industry's 5.6% decline and the S&P 500 Index’s 10.9% rise.

Doximity, with a market capitalization of $4.07 billion, is a global specialty medical device company.

DOCS’ bottom line is estimated to improve 3.8% over the next five years. Its earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.99%.

Image Source: Zacks Investment Research

What's Driving DOCS’ Performance?AI Platform Is Rapidly Becoming Doximity's Next Major Growth Engine: Doximity is positioning artificial intelligence as its largest long-term monetization opportunity. Since acquiring Pathway, AI Search and AI Scribe users have tripled, while nearly half of all active prescribers now use the company's AI tools.

Management has already signed its first AI Search contracts with top-20 pharmaceutical companies and believes AI Search alone represents a multibillion-dollar incremental addressable market beyond its existing pharma advertising business. The combination of physician engagement, hospital adoption and early customer interest suggests Doximity is building a differentiated AI ecosystem that could materially expand revenues over the next several years rather than simply enhancing existing products.

Deepening Health System Integration: Doximity's growing integration into hospital workflows is making its platform increasingly indispensable to physicians. Nearly half of all U.S. doctors now work at health systems using Doximity's workflow or scheduling tools, while 140 health systems, including seven of the top 20 U.S. hospitals, have adopted its Clinical AI Suite.

Management emphasized that more than 250,000 prescribers now access AI capabilities through HIPAA-compliant enterprise deployments, creating a significant barrier for competitors. As hospitals increasingly prioritize secure AI environments over public AI tools, Doximity's trusted infrastructure, physician network and enterprise relationships should support higher customer retention and expanding cross-selling opportunities across workflow, telehealth and AI solutions.

Record Physician Engagement: Doximity continues to strengthen the core asset underpinning its business — physician engagement. Workflow usage increased approximately 30% year over year, reaching more than 800,000 quarterly active prescribers, representing one of the strongest engagement accelerations in the company's history. AI usage is growing even faster, with users nearly doubling their monthly query activity since January.

Higher engagement not only strengthens customer loyalty but also increases the value of Doximity's advertising, workflow and AI offerings to pharmaceutical companies and health systems. Management believes sustained engagement growth will eventually translate into stronger revenue expansion, particularly as new AI-powered commercial products become more widely adopted across its physician network.

What’s Weighing on DOCS Stock?Core Pharma Advertising Market Remains Weak: The biggest near-term challenge for Doximity remains the soft healthcare professional (HCP) digital advertising market. Management acknowledged continued policy uncertainty, macroeconomic risks and shorter pharmaceutical budgeting cycles, causing many customers to delay spending commitments and favor shorter-duration contracts.

The company expects the overall HCP digital advertising market to grow only around 5% or less during fiscal 2027, significantly below historical levels. Although Doximity continues to outperform many peers, sluggish industry spending limits visibility and reduces opportunities for traditional advertising growth. Until pharmaceutical companies regain confidence and commit to longer-term marketing budgets, revenue acceleration is likely to remain constrained.

AI Monetization Will Pressure Margins: While AI represents Doximity's largest long-term opportunity, management expects fiscal 2027 to be an investment year rather than a significant earnings contributor. The company plans to substantially increase spending on AI compute, engineering talent, brand marketing, and product development, resulting in adjusted EBITDA margins declining from 55% in fiscal 2026 to approximately 49% in fiscal 2027.

Management also expects minimal AI revenue contribution during the first half because regulatory reviews and customer implementation timelines will delay commercialization. Consequently, the company could face a period of elevated expenses without commensurate revenue growth, increasing execution risk if AI adoption progresses more slowly than anticipated.

Commercial Success Depends on Regulatory and Customer Adoption of AI: Although customer interest in AI Search appears strong, commercialization remains at a very early stage. Management acknowledged that pharmaceutical companies must complete extensive medical, legal and regulatory reviews before campaigns can be deployed, creating longer implementation timelines than traditional advertising products.

Because Doximity launched the commercial offering only recently, management expects most of the financial benefits to materialize in the second half of fiscal 2027. Delays in regulatory approvals, customer onboarding, or campaign execution could defer revenue recognition. Given management's expectation that AI Search will become a major future growth driver, slower-than-expected commercialization would likely weigh on investor expectations.

Estimate TrendThe Zacks Consensus Estimate for fiscal 2027 revenues is pegged at $670.2 million, implying growth of 3.9% from the year-ago reported figure. The consensus mark for adjusted EPS is pinned at $1.39, indicating a decline of 8.6% from the previous year’s recorded level.

In the past 60 days, DOCS’ earnings estimate for fiscal 2027 has remained stable.

Stocks to ConsiderSome better-ranked stocks from the broader medical space are Alcon (ALC - Free Report) , Intuitive Surgical (ISRG - Free Report) and Cardinal Health (CAH - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Alcon reported first-quarter 2026 earnings per share of 85 cents, which beat the Zacks Consensus Estimate by 6.3%. Revenues of $2.69 billion surpassed the Zacks Consensus Estimate by 0.3%.

Alcon has an estimated long-term earnings growth rate of 11.5%. ALC’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 3.66%.

Intuitive Surgical reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.

Intuitive Surgical has an estimated long-term earnings growth rate of 14.3%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.

Cardinal Health reported a third-quarter fiscal 2026 adjusted EPS of $3.17, which beat the Zacks Consensus Estimate by 13.2%. Revenues of $60.94 billion missed the Zacks Consensus Estimate by 2.3%.

Cardinal Health has an estimated long-term earnings growth rate of 17%. CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.3%.

© Gorodenkoff / Shutterstock.com

Nebius Group (NASDAQ:NBIS | NBIS Price Prediction) shares are up 8% to $186 in Friday afternoon trading, rebounding after Thursday’s 14% plunge that closed the stock at $171.77. The catalyst: Nebius’s first-ever senior secured debt facility, a deal designed to fund its AI buildout without new share issuance.

The move stands out because the broader tape is soft. The Invesco QQQ Trust (NASDAQ:QQQ) was tracking lower, underscoring that this is an idiosyncratic, positive catalyst rather than a beta rally. Nebius stock remains up 117% year to date.

Today’s price action follows a rough ride on Thursday, July 16, with Nebius sinking as the neocloud trade unraveled. Today’s rebound directly addresses the dilution fear at the heart of that selloff.

Debt Deal Eases the Dilution Overhang According to the company’s announcement, Nebius landed a $775 million loan backed by GPU hardware already deployed in its data centers plus cash flows from an existing customer contract. The structure converts revenue-generating infrastructure into fresh growth capital, and Nebius says it can be replicated.

The importance is straightforward. Nebius had guided to $22.5 billion in 2026 capital expenditures, and how to fund that number was the central investor question. By tapping asset-backed debt instead of equity, Nebius answers the bear thesis from Thursday head-on. The company also cited more than $40 billion in additional contracted revenue from investment-grade customers, including Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META), and confirmed it remains on track with its Microsoft capacity deployment.

Nebius’s $2 billion pre-funded warrant investment from NVIDIA (NASDAQ:NVDA) remains the anchor validation for its GPU fleet. NVIDIA stock was little changed during Friday’s afternoon session.

CoreWeave Wrote the Playbook CoreWeave (NASDAQ:CRWV) is the closest neocloud pure-play, and it used the same approach earlier this year. Per the reporting, CoreWeave closed an $8.5 billion asset-backed delayed-draw term loan to fund its GPU buildout. Asset-backed debt has effectively become the sector’s preferred way to finance AI infrastructure without diluting shareholders.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Nebius Group didn't make the cut. Grab the names FREE today.

CoreWeave shares tell the other side of the story. CoreWeave stock is up 1% Friday but is down 44% over the past year as debt-load concerns and profitability questions have weighed on the name. Nebius’s positive EBITDA profile has become a key differentiator in that comparison.

A Diversified Way to Play the Theme For investors who want AI infrastructure exposure without single-stock volatility, the Global X Data Center and Digital Infrastructure ETF (NASDAQ:DTCR) is worth a look. The ETF doesn’t hold Nebius or CoreWeave and skews toward established data-center REITs, plus chipmakers like NVIDIA.

The trade-off is clear. The DTCR ETF sacrifices direct AI-compute leverage for lower volatility, and single-sector concentration risk remains.

Bull and Bear Cases: What to Watch The bull case is that non-dilutive, asset-backed financing answers the dilution worry, reinforces Nebius’s capital-efficiency narrative, and comes on top of the NVIDIA anchor and a large contracted revenue book. Retail sentiment reflects that, with r/stocks activity hitting a very bullish sentiment score of 82 during and after the announcement window.

The bear case is that Nebius still adds secured leverage against its GPU fleet, its trailing P/E ratio of 70x is elevated, and today is a one-day bounce after a brutal month. The neocloud derating could resume.

Given NBIS stock’s high-beta profile, position sizing matters here. Investors can watch for whether Friday’s gains hold into the close, updates on the Meta Platforms contract ramp, and the Q2 FY2026 report for the next capacity milestones.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Nebius Group didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 17 (Reuters) - Apple (AAPL.O), opens new tab and the U.S. Department of Justice are in early discussions about settling a 2024 lawsuit that ​alleges the iPhone maker violated antitrust laws, Bloomberg News ‌reported on Friday, citing people with knowledge of the matter.

Apple and the DOJ did not immediately respond to Reuters requests for comment. Reuters ​could not independently verify the report.

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The discussions are active, ​but there is no guarantee that the two sides ⁠will reach an agreement, the report said, adding that the ​iPhone maker has made multiple offers to the DOJ to ​bring the case to a close.

The department and 15 states sued Apple in 2024 as the government cracks down on Big Tech, alleging the iPhone ​maker monopolized the smartphone market, hurt smaller rivals and drove ​up prices.

In the lawsuit, the U.S. had accused Apple of making it harder ‌for ⁠consumers to block competitors and cited five examples where Apple used mechanisms to suppress technologies that would have increased competition among smartphones: so-called super apps, cloud stream game apps, messaging apps, ​smartwatches and digital ​wallets.

It could ⁠not be learned whether the state attorneys general were engaged in settlement talks, according to the ​report.

Shares of Apple were down 1.1% in afternoon ​trading ⁠on Friday. They have risen about 23% this year.

The report comes days after Apple sued OpenAI and two former employees, alleging misappropriation ⁠of its ​trade secrets to benefit the ChatGPT-owner's ​foray into consumer hardware, a dramatic escalation of already simmering tension between the ​two companies.

Reporting by Jaspreet Singh in Bengaluru; Editing by Arun Koyyur

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Back in May at Meta Platformʻs (META 2.55%) annual shareholders meeting, CEO Mark Zuckerberg said something that caught a lot of people off guard -- that the notion of selling computing access, essentially entering the cloud computing arena, was "definitely on the table."

"Almost every week there are different companies that come to us from the outside asking us to both stand up an API service or asking if we have compute that they could buy from us at some premium to what we've bought it at," Zuckerberg said.

Well now, according to various reports, including Bloomberg, it is in development, and it is called Meta Compute. Meta confirmed that the initiative is under development but said things could change and offered no details on its plans, according to Bloomberg.

Image source: Getty Images.

This would enter Meta into the cloud computing fray, where it would compete against "Magnificent Seven" rivals Amazon, Microsoft, and Alphabet. On July 9, Zuckerberg, in an interview with Bloomberg, confirmed that the idea of offering computing access "makes sense," furthering the notion that Meta is ready to make a splash in this business.

Shares jump on Meta's cloud ambitions Since the July 1 Bloomberg article came out, Meta stock has jumped some 21% to $677 per share. Last week, sparked by the Zuckerberg interview, Meta stock soared 15%, making it the best week for Meta stock in more than two years.

Today's Change

(

-2.55

%) $

-16.94

Current Price

$

647.60

Bloomberg's initial report included some details, although unconfirmed, on what Meta's cloud plans might look like. One idea, per Bloomberg, is to charge developers to "access AI models hosted on its infrastructure." The other option is to sell excess computing capacity, similar to other cloud providers.

It is way too early for investors to get too concerned about this one way or the other, as we don't yet know the details on what Meta is planning. I would guess that we'll hear more when Meta reports earnings on July 29.

Due to its size, resources, and relationships, Meta would have the capacity to generate meaningful revenue in this booming space. That's probably why we are seeing investor enthusiasm. But the real dirt is in the details, so keep an eye out for more.

In my opinion, Meta stock remains a great buy heading into earnings. Some 91% of analysts rate it a buy with a median price target of $810 per share, which suggests 20% upside. And it is still relatively cheap, trading at 24 times earnings and 21 times forward earnings, below the S&P 500 average.

Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool has a disclosure policy.

SummaryCompaniesJudge says emergency order not justifiedWorkers claim AI tools targeted people who took medical leaveNovel claims will be decided in private arbitrationJuly 17 (Reuters) - A U.S. judge on Friday rejected a bid by 26 employees of Meta Platforms (META.O), opens new tab to block the tech giant from laying them off while they pursue claims ​that they were targeted for job cuts by the company's AI-powered tools because they have disabilities or took medical leave.

U.S. District Judge William Orrick in Oakland, ‌California, in a written order, opens new tab said he would not stop Meta from carrying out the layoffs beginning July 22 while the merits of the workers' novel legal claims are decided in private arbitration.

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The judge said the workers could not show that losing their jobs amounted to the "irreparable harm" required for him to issue an emergency order blocking the layoffs.

A Meta spokesperson declined to comment. The company has denied wrongdoing and said that decisions involving the layoffs ​were made by humans.

Lawyers for the plaintiffs in a joint statement said that while Orrick denied their request, he also recognized that the lawsuit raises "serious questions" about Meta's conduct.

"The ​Court expressly stated that it may reconsider its determinations 'based on any additional evidence the parties provide regarding whether and how AI was used' ⁠in the reduction in force," they said.

Meta in May notified nearly 8,000 employees, or about 10% of its global workforce, that they were losing their jobs as the company doubles down on ​its investments in AI.

The lawsuit filed on Monday claims that in selecting jobs to cut, Meta relied on AI tools that measured productivity and AI token usage, disadvantaging people who missed work because ​of medical conditions or to care for family members. The company also relied on performance reviews based in part on employees' adoption of AI, the plaintiffs said.

The case appears to be the first against a major U.S. company to challenge the alleged use of AI in conducting layoffs.

'NO DO-OVER'The plaintiffs had asked Orrick for a temporary restraining order blocking Meta from completing its layoffs while they pursue their claims in private arbitration.

Their ​motion for a preliminary injunction, a longer-lasting temporary order, is pending. Orrick on Friday suggested that he could change his mind once he has more information about the layoffs.

Lawyers for the ​plaintiffs said during a hearing on Thursday that along with their jobs and salaries, the workers stood to lose valuable stock options and their health insurance, imperiling their medical care for pregnancies and other conditions.

"There's ‌no do-over ⁠for bonding with a new baby or giving birth or having active medical treatment," one of the lawyers, Barbara Cowan, told Orrick.

Erin Connell, who represents Meta, countered that the workers were losing only employer-subsidized insurance, and not their coverage altogether. Those are the typical kinds of damages that can be recouped later on if the plaintiffs win their cases in arbitration, Connell said.

The workers say Meta's agreements require employees to arbitrate workplace disputes individually, but do not apply to requests for temporary relief.

Most workers at large companies sign arbitration agreements, which generally require employees to pursue workplace ​claims individually rather than through class actions ​in court. Companies say arbitration can provide ⁠a faster, cheaper alternative to litigation, while critics say it often favors employers and discourages workers from bringing claims.

Exceptions in arbitration agreements for temporary relief are common, but they are typically invoked in cases involving the alleged theft of trade secrets or the solicitation of clients or employees, ​and not layoffs of at-will employees.

The plaintiffs, who filed the lawsuit anonymously, include engineers, managers, researchers and designers. They were notified in ​May of the layoffs, which ⁠are scheduled to be finalized on July 22 for many workers and later in July or August for others, according to court filings.

Laid-off workers remain on the payroll but lost access to Meta systems on May 20 and have not performed work for the company since, Meta said in court filings.

They claim that Meta used a number of internal AI-assisted systems to score and rank employees on ⁠a termination ​list. Those included a large language model assistant known as "Metamate," an employee-trained "second brain" that tracked workers' communications and documents, ​and a productivity score drawn from scanning keystrokes, screen content, emails and browser history, according to the lawsuit.

Meta did not pause these systems while employees were on vacations and legally protected leave periods, and their AI adoption scores used ​as inputs for layoff selection dropped as a result, the plaintiffs said.

Reporting by Daniel Wiessner in Albany, New York and Katie Paul in New York, Editing by Alexia Garamfalvi and Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Dan Wiessner (@danwiessner) reports on labor and employment and immigration law, including litigation and policy making. He can be reached at [email protected].

Advanced Micro Devices Inc (NASDAQ:AMD, XETRA:AMD) hosts its Advancing AI 2026 event next week in San Francisco, its first dedicated AI day since June 2025 when it launched its MI350 series GPUs and previewed its Helios rack system.

Jefferies analysts expect AMD to raise its addressable market estimate for AI CPUs above $200 billion, topping the figure Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) (Nvidia Corp (NASDAQ:NVDA, XETRA:NVD)) gave in May. They are also watching for more detail on AMD's next-generation MI500 GPUs and scale-up roadmap, along with any new customer announcements.

New customer announcements have been the biggest swing factor at AMD's past two AI events. The firm's Asia supply chain checks suggest Microsoft Corp (NASDAQ:MSFT) (Microsoft Corp (NASDAQ:MSFT)) is now a customer for AMD's MI400 series GPUs, joining previously disclosed customers OpenAI and Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) (Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB)).

The analysts said expectations center on a potential Anthropic announcement, noting reports that the AI company has been hiring engineers with ROCm experience, which they said suggests Anthropic is preparing to diversify its computing infrastructure.

Jefferies cautioned that deal economics matter more than any headline, noting AMD has already committed 20% of the company to OpenAI and Meta, so future deals would need smaller incentive packages.

A more traditional Anthropic agreement would reinforce confidence in AMD's ability to compete without equity incentives, the analysts said.

Jefferies expects new disclosure on the MI500 series, previewed at CES 2026 as CDNA 6 architecture on an advanced 2nm process with HBM4E memory targeted for 2027, with a claimed 1,000-times AI performance uplift versus an eight-GPU MI300X node.

The analysts expect the MI500 platform to move to a native Ultra Accelerator Link scale-up domain with 256 GPUs per rack, which may require optical interconnects.

Jefferies is watching for confirmation of a co-packaged optics approach and its supplier, noting AMD's investment in Ayar Labs and its work with Astera Labs Inc (NASDAQ:ALAB) on Ultra Accelerator Link and Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) (Broadcom Inc (NASDAQ:AVGO, XETRA:1YD)) on scale-up networking.

Posted by _ _xnake on Jul 17th, 2026

Bank of America Corporation (NYSE:BAC) shares traded up 1.7% on Wednesday following a better than expected earnings announcement. The company traded as high as $62.03 and last traded at $61.6220. Approximately 43,138,347 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 38,850,402 shares. The stock had previously closed at $60.62.

The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS.

Bank of America Announces Dividend The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s payout ratio is 27.72%.

More Bank of America News Here are the key news stories impacting Bank of America this week:

Positive Sentiment: Several firms raised their price targets on BAC after Q2 results, with Barclays, Wells Fargo, KBW, and Truist all seeing further upside on stronger earnings and better growth prospects. Positive Sentiment: Bank of America’s earnings call highlighted durable growth drivers including rising net interest income, loan and deposit gains, operating leverage, and AI-enabled productivity, which should support profitability. Bank of America Q2 Earnings Call Points to Durable Growth Drivers Positive Sentiment: Coverage following the quarter noted that Bank of America rode market volatility to trading records, while deal activity remained a bright spot, reinforcing the strength of its capital markets businesses. BofA rides market whiplash to trading records, deal activity shines Positive Sentiment: Commentary after the Q2 report said Bank of America’s consumer unit earned nearly $3.3 billion as spending held up, suggesting its retail banking franchise remains resilient. Neutral Sentiment: CEO Brian Moynihan also warned about AI security risks, but this appears more like an industry-wide caution than a direct business setback for BAC. Negative Sentiment: An article questioning whether Bank of America is overvalued could temper some enthusiasm if investors worry the post-earnings rally has already priced in much of the good news. Is Bank of America Corporation (BAC) Overvalued? Analyst Upgrades and Downgrades A number of equities research analysts recently issued reports on the company. HSBC lifted their target price on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group upped their price target on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Robert W. Baird raised their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.77.

Read Our Latest Research Report on BAC

Insider Transactions at Bank of America In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows A number of hedge funds have recently bought and sold shares of BAC. Abound Financial LLC bought a new position in shares of Bank of America in the fourth quarter valued at $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the third quarter worth $27,000. Legacy Bridge LLC raised its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 330 shares in the last quarter. CrossGen Wealth LLC bought a new stake in Bank of America during the fourth quarter worth $30,000. Finally, Joseph Group Capital Management acquired a new stake in Bank of America in the fourth quarter valued at $32,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Down 0.2% The business’s 50 day simple moving average is $55.11 and its 200 day simple moving average is $53.09. The stock has a market cap of $436.30 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.00 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

About Bank of America (Get Free Report)

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.

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