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This Railroad Stock Is Chugging Along to a New All-Time HighNorfolk Southern NYSE: NSC reported a stronger-than-expected second quarter, with executives pointing to a sharp rebound in freight volumes, higher energy-related demand and improving intermodal trends, while also acknowledging service pressures caused by the rapid increase in traffic.

President and Chief Executive Officer Mark George said the company delivered “a strong second quarter” after volumes improved sharply, initially driven by energy markets tied to the Iran conflict and later spreading into domestic intermodal and industrial products. George said the quarter produced 7% growth in both net income and earnings per share.

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These 3 industrial stocks just got upgraded ahead of earningsThe railroad’s adjusted operating ratio was 65.5%, according to Chief Financial Officer Jason Zampi. Adjusted earnings per share were $3.52. Zampi said operating income increased 5% from a year earlier, despite higher fuel costs, inflationary pressures and volume-related expenses.

Volumes Improve Across Key Markets Chief Commercial Officer Ed Elkins said overall volume increased 4% year over year. He said that even excluding fuel surcharge impacts, Norfolk Southern achieved record revenue in the quarter.

All Aboard! The Sell-Side Has Railroads In Reversal Within merchandise, volume increased 2%, while revenue excluding fuel rose 4% to another record. Elkins said the gains were driven by energy demand in the company’s chemicals markets, with revenue per unit excluding fuel up 3% due to price and mix.

Intermodal volume rose 5%, supported by firm consumer demand, favorable trucking market conditions and recent business wins in domestic intermodal. Intermodal revenue excluding fuel increased 7%, while revenue per unit excluding fuel rose 1%, which Elkins described as “the beginning of a positive shift in Intermodal pricing.”

Coal volume increased 3%, helped by the ramp-up of a new metallurgical coal export customer and additional export thermal opportunities tied to volatile global energy markets. Revenue per unit excluding fuel increased 1%, reflecting favorable seaborne coal pricing, partly offset by negative mix.

Elkins said the company is “positive on the growth potential” across its served markets, while noting that energy prices, consumer demand and interest rates remain variables. He said Norfolk Southern has a cautious but optimistic outlook for merchandise, a bullish view of intermodal and continued strength in export metallurgical coal.

Service Pressures Follow Volume Surge George said higher volumes following winter disruptions put pressure on the network, but he said the company has addressed the issues “head-on.” He said Norfolk Southern is already seeing acceleration in the network in July and expects continued progress.

New Chief Operating Officer Brian Barr said demand remained strong throughout the quarter, but recovering from network disruptions while handling higher volumes created pressure on crew resources and variability in parts of the system.

Barr said the company is focused on improving originations, reducing terminal dwell, increasing velocity and running the railroad to plan. He said on-time originations increased 20% over the past month, terminal performance is improving and train velocity is rising as recrews decline.

During the question-and-answer session, Barr described tactical operating changes, including work at the Chattanooga terminal that removed handling for about 150 cars per day. He said similar efforts are helping create capacity, reduce time in route and return resources to the network.

George said the company does not expect a “massive” addition of resources, though it needs to hire in certain tight locations and continue replacing attrition in train and engine ranks. He said accelerating the network reduces the need for incremental labor and locomotives.

Safety Metrics Improve Barr said safety remains the foundation of Norfolk Southern’s operations. In the second quarter, the company’s personal injury index declined 16% year over year, while the accident rate fell approximately 25%. Its mainline accident rate remained flat and near best-in-class levels, according to Barr.

He also highlighted the mechanical department, which he previously led, for going two consecutive months injury-free across shops and yards on the network. Barr said the company is pleased with the progress but “not satisfied,” adding that safety has no finish line.

Fuel Costs Drive Expense Outlook Higher Zampi said total costs rose 15% in the quarter, with more than two-thirds of the increase driven by a substantial rise in fuel expense. Inflation also pressured compensation and benefits, purchased services and materials, while volume and network fluidity issues contributed to higher overtime, rents and materials.

Norfolk Southern incurred $51 million in merger-related expenses during the quarter, $15 million of costs related to the Eastern Ohio incident and $6 million of restructuring costs, Zampi said.

George said the company is updating its 2026 operating expense outlook to $8.8 billion to $8.9 billion, up from the prior range of $8.2 billion to $8.4 billion. He attributed the increase largely to an estimated $400 million to $500 million of incremental fuel expense compared with the company’s view at the beginning of the year. Excluding fuel, he said core operating costs are trending toward the high end of the previous range because of a stronger volume outlook.

Capital expenditure guidance remains unchanged at approximately $1.9 billion. George said the company is maintaining discipline while investing in safety, reliability and network capacity.

Barr reaffirmed Norfolk Southern’s target of at least $150 million in cost reductions in 2026, which he said would bring cumulative savings to at least $650 million over three years, exceeding the company’s original target.

Executives See Pricing Opportunity as Truck Market Tightens Elkins said trucking market conditions have become increasingly supportive for rail conversion. He cited rising dry van rates, tightening truck capacity and elevated outbound tender rejections. He said higher fuel prices also make intermodal conversion more attractive to customers.

In response to analyst questions, Elkins said upward pressure in spot trucking rates typically needs three to six months before influencing contract pricing. He said Norfolk Southern has restructured contracts in recent years to respond more quickly to movements in truck pricing, reducing the lag from many months or a year to “a couple quarters.”

Elkins also said industrial development remains a key strategic priority. He said the number of new manufacturing and expansion projects expected to enter design and construction in 2026 is projected to be nearly double last year’s level. He cited projects from Sodecia Aapico JV in South Carolina, Virginia Transformer in Alabama and Silvi Materials cement terminals in several markets.

George said the company remains focused on the proposed combination with Union Pacific and is confident the transaction can strengthen supply chains through single-line service. He also referenced Norfolk Southern’s agreement with CN, calling it a “win-win-win” that further enhances competition in freight rail.

Looking ahead, George said Norfolk Southern is cautiously optimistic. He said higher fuel prices could become a risk if sustained long enough to hurt consumer demand, but he added that the current environment is more favorable for rail after what he described as a prolonged freight recession.

About Norfolk Southern (NYSE:NSC)Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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

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PHOENIX--(BUSINESS WIRE)--UNITE HERE Local 11, a union representing thousands of Arizona food service workers, filed a lawsuit in state court last Friday against the Arizona prison system for allegedly declining to disclose information about prison food service and the performance of the prison chief food service contractor, Aramark. Aramark is a major contractor for state facilities in Arizona, including ASU and the Phoenix Convention Center. Despite generating nearly $18.5 billion in revenues.

Columbia Banking (COLB - Free Report) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.11%. A quarter ago, it was expected that this bank holding company would post earnings of $0.68 per share when it actually produced earnings of $0.72, delivering a surprise of +5.88%.

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

Columbia Banking, which belongs to the Zacks Banks - West industry, posted revenues of $677 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.66%. This compares to year-ago revenues of $510.91 million. The company has topped consensus revenue estimates three times over the last four quarters.

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

Columbia Banking shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Columbia Banking?While Columbia Banking has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

Ahead of this earnings release, the estimate revisions trend for Columbia Banking was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.78 on $701.22 million in revenues for the coming quarter and $3.05 on $2.78 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Coastal Financial Corporation (CCB - Free Report) , is yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +33.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Coastal Financial Corporation's revenues are expected to be $162.7 million, up 36.2% from the year-ago quarter.

Robert Half (RHI - Free Report) came out with quarterly earnings of $0.26 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this staffing firm would post earnings of $0.14 per share when it actually produced earnings of $0.14, delivering no surprise.

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

Robert Half, which belongs to the Zacks Staffing Firms industry, posted revenues of $1.34 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.78%. This compares to year-ago revenues of $1.37 billion. The company has topped consensus revenue estimates two times over the last four quarters.

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

Robert Half shares have added about 49.9% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Robert Half?While Robert Half has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

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

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

Ahead of this earnings release, the estimate revisions trend for Robert Half was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.47 on $1.36 billion in revenues for the coming quarter and $1.29 on $5.31 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Kelly Services (KELYA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This staffing company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -55.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Kelly Services' revenues are expected to be $1.01 billion, down 8.4% from the year-ago quarter.

AppFolio NASDAQ: APPF reported strong second-quarter 2026 results, with management highlighting continued revenue growth, expanding margins, increased platform adoption and growing customer interest in artificial intelligence-powered real estate operations.

The property management software company said revenue rose 19% year over year to $281 million, compared with $236 million in the second quarter of 2025. Chairman and CEO Shane Trigg said AppFolio also crossed $1 billion in trailing 12-month revenue for the first time.

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“This is an exciting time for our business and our industry,” Trigg said on the earnings call. “I want to start where it matters most, with the operators running and growing their businesses on AppFolio.”

GAAP operating income increased to $53 million, or 18.8% of revenue, up from $41 million, or 17.2% of revenue, a year earlier. Non-GAAP operating income rose 24% year over year to $76 million, or 27.1% of revenue, compared with $62 million, or 26.2% of revenue, in the prior-year period.

Revenue Growth Driven by Subscriptions, Value-Added Services CFO Tim Eaton said subscription services revenue grew 14% year over year to $60 million, driven by new customers, growth in units under management and upgrades to premium tiers. Nearly one in three units are now on a premium tier, up from approximately one in four, according to management.

Value-added services revenue increased 22% year over year to $219 million. Eaton said the growth was led by FolioGuard risk mitigation services, FolioScreen offerings and online payments, along with continued unit growth. He also pointed to newer offerings, including Resident Onboarding Lift, move-in services through LiveEasy and Realm-X Performers, AppFolio’s agentic AI products for leasing, maintenance and resident messaging.

AppFolio ended the quarter with approximately 9.6 million units on its platform, an 8% increase from 8.9 million a year earlier. The company’s customer count rose 6% to 22,751 from 21,403.

“New customer wins and new unit additions remained strong,” Eaton said. “Customer and unit retention continued to be healthy and consistent with historical averages.”

Management Emphasizes AI and Platform Consolidation Trigg said conversations at the NAA Apartmentalize conference underscored broad industry interest in AI, but he said customers were focused less on adding tools and more on reducing complexity across disconnected systems.

He cited AppFolio’s Property Management Benchmark Report, which found that 45% of property managers are actively planning to streamline their software solutions. Trigg said customers that moved to AppFolio reduced reliance on multiple disconnected systems, pointing to examples including RST & Associates, Advanced Management Company and Northpoint Asset Management.

“Consolidation isn’t the end game,” Trigg said. “It’s simply removing blockers to what customers actually want: real performance.”

AppFolio is positioning its strategy around what it calls real estate performance management, or RPM. Trigg described RPM as a combination of “an AI-native architecture with interconnected systems of record, action, and growth.”

The company highlighted continued development of Realm-X Flows, its workflow automation layer. Trigg said AppFolio expanded Flows during the quarter to include five times the triggers and more than 1,000 conditional options to route and filter workflows. Among customers that have adopted Flows, runs grew triple digits year over year across areas including lead nurture, rental applications, move-ins, delinquency and renewals.

Trigg also said Leasing Performer is involved in roughly half of all completed showings for customers that have deployed it, while Maintenance Performer responds to resident inquiries in seconds. AppFolio announced a new Accounting Performer at Apartmentalize, which the company said is intended to streamline bill entry, financial close processes and budgeting.

Customer Examples Highlight Adoption Management cited several customer examples to show how broader platform adoption is affecting operations. Trigg said PURE HomeRiver, which operates in 35 states and manages a 40,000-unit portfolio, renewed its commitment to AppFolio as its single platform of choice and anticipates growth to 60,000 units.

Trigg also discussed Stratton Vantage, a Phoenix-based operator managing 1,600 units, which implemented Resident Onboarding Lift earlier this year. According to Trigg, 100% of its leases have moved through the platform, and the company’s leasing team has reported recapturing nearly 20 hours a month.

Other examples included Yale Management Services, a 7,500-unit customer in Los Angeles that upgraded to AppFolio’s Max tier and achieved a 1.9 percentage point lift in occupancy over six months, and Bluestone, which manages 3,000 residential units in the Pacific Northwest. Trigg said Bluestone’s Leasing Performer handled more than 10,000 leads, with 55% arriving after hours and an average response time under nine seconds.

Costs, Cash Flow and Workforce Eaton said cost of revenue, excluding depreciation and amortization, was 36% of revenue, up from 35% a year earlier. He attributed the increase to payments product mix and incremental data center capacity to support rising customer usage of AI capabilities, partially offset by operating efficiencies.

Sales and marketing expense was 14% of revenue, consistent with the prior-year quarter. Research and development declined to 15% of revenue from 16%, while general and administrative expense remained at 7% of revenue.

AppFolio ended the quarter with 1,732 employees, up 3% year over year. The company generated $88 million in operating cash flow and ended the quarter with $222 million in cash equivalents and current investment securities.

“Our capital allocation approach remains unchanged,” Eaton said. “We prioritize investing in the business, and our share repurchase program remains opportunistic.”

AppFolio Raises 2026 Guidance AppFolio raised its full-year 2026 revenue outlook to a range of $1.117 billion to $1.127 billion, with the midpoint implying 18.0% growth. Eaton said the updated outlook is supported by premium tier adoption, growth in new business units and increasing adoption of products and services, including agentic AI performers and resident services.

The company also raised its non-GAAP operating margin guidance to a range of 26.5% to 28.0%, compared with 24.7% in 2025. AppFolio expects cost of revenue, excluding depreciation and amortization, to be relatively flat as a percentage of revenue compared with 2025.

Eaton said the company expects operating expenses as a percentage of revenue to decline modestly as AppFolio scales and uses AI to drive efficiency across internal operations. The company anticipates diluted weighted average shares outstanding of approximately 36 million for the full year.

“Our continued investment in AI and the resident experience is expanding the value customers receive from our platform,” Eaton said, adding that AppFolio remains focused on “durable revenue growth, margin expansion, and disciplined capital allocation.”

About AppFolio (NASDAQ:APPF)AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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

Should You Invest $1,000 in AppFolio Right Now?Before you consider AppFolio, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AppFolio wasn't on the list.

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Sixty thousand dollars a year is roughly what the median U.S. household spends after taxes, and it is the number many pre-retirees quietly aim to replace with investment income. Hitting it on a $900,000 nest egg requires a blended yield near 6.7%, which sits comfortably above the 4.6% 10-year Treasury and lightyears above the 1.7% national average on a 12-month CD.

The question is how to reach that yield without slowly liquidating the portfolio that produces it. Three tiers frame the tradeoffs.

Conservative Tier: 3% to 4% Yield At a 3.5% yield, $60,000 divided by 0.035 requires roughly $1,714,000 of capital. That is nearly double the $900,000 anchor, which is exactly the point: the safest income costs the most upfront.

This is the domain of dividend growth equities, broad-market dividend ETFs, regulated utilities, and blue-chip regional banks. Alliant Energy (NASDAQ:LNT | LNT Price Prediction) illustrates the profile, with a 2.8% yield backed by a $0.535 quarterly payout and a growth pipeline tied to 3.4 GW of contracted data center demand. East West Bancorp (NASDAQ:EWBC) raised its quarterly dividend from $0.60 to $0.80 at the start of 2026. Casey’s General Stores (NASDAQ:CASY) yields under 0.3% but has raised its dividend for 27 consecutive years.

You buy the least income and the most durability. Distributions grow, principal tends to compound, and the portfolio survives cuts.

Moderate Tier: 5% to 7% Yield At 6%, $60,000 divided by 0.06 requires $1,000,000. At the portfolio’s implied 6.7% blend, $900,000 does the job exactly. At 7%, the requirement drops to roughly $857,000.

This tier is populated by energy MLPs, equity REITs, preferred shares, covered call equity funds, and high-dividend value ETFs. Plains All American Pipeline (NASDAQ:PAA) is a working example, distributing $0.4175 per unit quarterly for an annualized $1.67, a 6.6% yield on units near $24.67. Plains raised its 2026 adjusted EBITDA guidance midpoint by $130 million to $2.88 billion, giving the distribution a real coverage cushion.

The tradeoff: distribution growth slows, some covered call strategies cap upside, and MLPs bring K-1 tax filings.

Aggressive Tier: 8% to 14% Yield At 10%, $60,000 divided by 0.10 requires only $600,000. At 12%, the number drops to $500,000. On paper, the aggressive tier looks cheap.

The math hides real risk. Mortgage REITs, business development companies, leveraged covered call funds, and high-yield bond funds live here. AGNC Investment (NASDAQ:AGNC) pays $0.12 monthly for a 13.4% current yield, but its tangible book value has drifted downward over years even as monthly checks arrived on schedule. The 31% one-year price gain reflects a rate-cycle rebound rather than durable growth.

The core risk is principal erosion. High current income often coexists with a shrinking asset base.

The Compounding Point Most Yield Charts Hide A 3.5% yield growing 8% annually doubles income in about nine years. A 12% yield that stays flat, or drifts lower, does not. Casey’s is the visual: shares are $857 today after a 588% ten-year gain, with the quarterly dividend climbing from pennies to $0.65. The aggressive-tier mREIT delivered 87% over the same ten years, all of it from distributions, with the share price ending near where meaningful growers begin.

A semiconductor grower with a 0.7% yield attached to a growing business can outrun a static high payout on total-return math.

Three Actions to Take This Week Reprice the target. Pull last year’s actual spending, not gross salary. Many households replacing a $60,000 income only need to fund $45,000 to $50,000 after taxes and payroll deductions disappear. Run a ten-year total-return comparison between a 3.5% dividend growth vehicle and a 10% high-yield fund. Include reinvested distributions. The gap almost always favors the grower once compounding runs. Model the tax bill by tier. Plains generates a K-1, the mREIT pays ordinary-income dividends, and qualified dividends from Alliant, East West, and Casey’s typically get preferential rates. In a 3.8% Fed Funds environment, the after-tax spread between tiers is wider than the headline yields suggest. $900,000 can pay $60,000 without touching principal. Whether it keeps doing so in 2036 depends on which tier you lean on now.

Contact [email protected] for any questions or corrections.

DALLAS--(BUSINESS WIRE)--Hilltop Holdings Inc. (NYSE: HTH) (“Hilltop”) today announced financial results for the second quarter of 2026. Hilltop produced income attributable to common stockholders of $36.5 million, or $0.63 per diluted share, for the second quarter of 2026, compared to $36.1 million, or $0.57 per diluted share, for the second quarter of 2025. Hilltop also announced that its Board of Directors declared a quarterly cash dividend of $0.22 per common share, a 10% increase from the.

NVIDIA logo is seen in this illustration taken July 20, 2026. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

July 23 (Reuters) - Amkor Technology (AMKR.O), opens new tab said on Thursday it had entered a multi-year agreement with ​Nvidia (NVDA.O), opens new tab worth $1.5 billion to expand advanced semiconductor ‌packaging and test capacity in the U.S., as the chip industry races to build out ​AI infrastructure.

Shares of the semiconductor packaging ​company jumped 17% in extended trading.

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Here are ⁠a few details on the partnership:

Under ​the agreement, Nvidia will make a prepayment to ​support the expansion of Amkor's U.S. advanced packaging operations, including capacity in Arizona.

The companies will jointly ​develop packaging and testing technologies for Nvidia's ​AI and accelerated-computing platforms, focusing on combining different types ‌of ⁠chips in a single package.

Amkor already supplies advanced packaging for Nvidia's product portfolio, including data center processors, and the expanded ​deal aims to ​bring ⁠new packaging technologies to market as AI infrastructure demand grows.

In June, ​Amkor entered a 10-year partnership with ​TSMC (2330.TW), opens new tab, ⁠the world's largest contract chipmaker, to enhance semiconductor packaging capabilities in the United States.

Amkor ⁠is ​also working with Advanced ​Micro Devices (AMD.O), opens new tab to package the semiconductor company's chips.

Reporting by Juby Babu ​in Mexico City; Editing by Pooja Desai

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

July 23, 2026 16:10 ET  | Source: NCS Multistage Holdings, Inc.

HOUSTON, July 23, 2026 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM), a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies, announced today that it will report its financial results for the second quarter of 2026 on Thursday July 30, 2026.

On June 1, 2026, Weatherford International plc (NASDAQ: WFRD) (“Weatherford”) and NCS announced that Weatherford has entered into a definitive agreement to acquire NCS. The transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026. In light of the acquisition, NCS will not host a conference call to discuss the quarterly results.

About NCS Multistage Holdings, Inc.

NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly those that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East and Argentina. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

Company Contact:
Mike Morrison
Chief Financial Officer and Treasurer
+1 281-453-2222
[email protected]

Investor Relations Contact:
Hayden IR
Corbin Woodhull
Managing Director
[email protected]

HBAR has extended its upward momentum after moving past a key resistance, with technical signals pointing to increased buying activity. The cryptocurrency now holds above a crucial support zone, which is viewed by market observers as a sign that recent gains may continue in the short term.

Price performance and trading metricsHBAR, the native token of the Hedera network, is currently priced at $0.07317, reflecting a 5.05% increase over the last 24 hours. The asset has registered a daily trading volume of $156.38 million and boasts a market capitalization of $3.20 billion, indicating a resurgence in trading interest among investors.

Crypto analyst Alpha Crypto Signal noted that HBAR managed to flip a local horizontal resistance into a support area on July 23. According to Alpha Crypto, holding above this newly established support could keep the short-term trend tilted in favor of buyers, while a drop below it might undermine bullish momentum.

Alpha Crypto Signal emphasized that as long as HBAR trades above the regained support, buyers are likely to remain active, potentially fostering further upside in the near term.

Technical outlook: Bollinger Bands and MACDFrom a technical perspective, HBAR is trading above the mid Bollinger Band, which sits around $0.06965. The token is approaching the upper Bollinger Band at $0.07616, while the lower band lies at $0.06314. This configuration suggests that sustained buying pressure could encourage a move toward the resistance zone near the upper band, but profit-taking could occur if prices extend too quickly.

Mini dictionary: Bollinger Bands, a technical analysis tool, consist of three lines—an upper, a middle (moving average), and a lower band—that help traders gauge price volatility and possible support/resistance levels.

The MACD (Moving Average Convergence Divergence) indicator has produced a bullish crossover, as the MACD line has climbed above the signal line to reach -0.00132, compared with the signal line at -0.00229. The MACD histogram now stands at 0.00097, reflecting growing buying momentum. Despite both lines remaining below the zero threshold, early signs hint that selling strength from bears is easing.

Mini dictionary: MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price and can signal potential buy or sell opportunities.

MetricCurrent ValueHBAR price$0.07317Daily trading volume$156.38 millionMarket capitalization$3.20 billionUpper Bollinger Band$0.07616Middle Bollinger Band$0.06965Lower Bollinger Band$0.06314Key support and resistance levelsThe immediate focus for market participants is whether HBAR can retain its position above the reclaimed support zone while facing resistance around the $0.076 area. A clear move above this resistance may strengthen the bullish outlook and attract additional buyers. In contrast, failure to hold the support could lead to a retracement toward the middle Bollinger Band, potentially weakening the current structure.

While technical indicators suggest that sellers have lost short-term control, trading activity in the coming sessions will determine if HBAR can convert this breakout into sustained growth.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Jul 23, 2026, 2:00 p.m.

2 min read

Uniswap logo on phone (appshunter.io/Unsplash)Summary

Uniswap is introducing Permissioned Pools, a framework designed for tokenized funds, equities and other regulated assets.The feature allows tokenized asset issuers to enforce investor eligibility requirements directly onchain while using Uniswap's automated trading infrastructure.The launch comes as tokenized assets gain traction on Wall Street and DeFi protocols increasingly adapt to institutional investors.Uniswap (UNI), one of the largest and longest-running decentralized exchanges, is making a deeper push into tokenized assets, introducing a feature designed to let regulated securities trade on the venue without sacrificing compliance requirements.

The decentralized exchange's developer, Uniswap Labs, is rolling out "Permissioned Pools" on Thursday, a piece of infrastructure that allows issuers of tokenized funds, equities and other regulated assets to restrict trading to approved investors while still using the protocol's automated market maker.

That “gives issuers a flexible way to enforce their own compliance rules without building separate trading infrastructure,” Ken Ng, head of ecosystem at Uniswap Labs, explained to CoinDesk.

“The next generation of value coming onchain, and it’s trading on Uniswap,” he said.

Launch partners include tokenization firms Securitize (SECZ) and Superstate, along with European digital securities platform Dowgo, all of which plan to use the framework for regulated onchain assets.

Tokenization trend enters DeFiThe move fits into a broader shift across decentralized finance (DeFi), where protocols originally built for open, permissionless trading and lending are increasingly adapting to the needs of financial institutions bringing traditional, regulated real-world assets (RWA) onto blockchain rails. One example for that is Aave, the largest decentralized lender, which rolled out Horizon, an institutional lending venue for tokenized assets.

The potential opportunity is significant. Global asset managers including BlackRock, Apollo, Franklin Templeton and VanEck have launched tokenized funds, while brokerages and exchanges are expanding tokenized stock offerings. A recent report by global bank Citi projected tokenized securities growing into a $5.5 trillion market by 2030.

Uniswap has been quietly laying the groundwork for institutional tokenized assets. In February, BlackRock's tokenized money market fund, BUIDL, issued by Securitize, became tradable on the protocol, while the asset manager disclosed an investment in UNI, Uniswap's governance token. The protocol has also seen a surge in activity with the launch on Robinhood’s new chain and tokenized stocks trading.

The new Permissioned Pools standard, built on top of Uniswap v4, extend that effort by giving issuers a way to enforce investor eligibility directly within the protocol rather than relying on offchain compliance checks.

Before a trade or liquidity deposit can occur, the pool verifies whether a wallet has been approved by the asset issuer. Investors who meet those requirements can trade through Uniswap's automated market maker, while issuers retain control over investor eligibility.

That approach aims to preserve many of decentralized finance's benefits while accommodating the regulatory controls expected by institutional issuers.

“Until now, compliance for tokenized securities lived at the app layer; a gate standing in front of the market,” Superstate CEO Robert Leshner told CoinDesk. “Permissioned Pools move those rules into the pool itself, so a regulated asset can tap real AMM liquidity without the issuer giving up the controls securities law requires.”

“That's the piece of plumbing tokenization has been missing,” he added.

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Crypto Flows, Share and the Selective Rotation

Crypto Flows, Share and the Selective Rotation

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Jul 22, 2026

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Why it matters:

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Uniswap Labs has introduced Permissioned Pools, a new Uniswap v4 hook standard designed to support regulated and permissioned assets through automated market makers.

Introducing Permissioned Pools on Uniswap v4

A new hook standard that brings permissioned assets to the AMM with compliance checks enforced at the protocol level

Built in collaboration with @SuperstateInc, @Securitize, Dowgo, and other leading teams bringing value onchain pic.twitter.com/WS4AohMYEJ

— Uniswap (@Uniswap) July 23, 2026

The system verifies whether a wallet is authorized before allowing it to execute a swap or add liquidity. Compliance checks are enforced through the pool’s smart contracts rather than through a website restriction or an external verification process.

Superstate, Securitize, and Dowgo are among the initial partners working with the standard. The companies plan to use the infrastructure for assets including tokenized funds, securities, and equities.

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Under the design, issuers retain control of the allowlist that determines which addresses can trade or provide liquidity. Approved users can then access onchain trading and settlement through Uniswap v4.

Permissioned Pools use a contract called the Permissions Adapter to hold the underlying regulated asset. The pool trades a wrapped representation of the token, which is automatically created when assets enter the pool and removed when they leave. Users ultimately receive the underlying asset rather than the wrapped representation.

A permissioned hook checks the issuer’s allowlist during every swap and liquidity addition. Separate permissions can be assigned for trading and liquidity provision, meaning a wallet authorized to swap is not necessarily permitted to become a liquidity provider.

The infrastructure also gives issuers several administrative controls. They can update the contract used to verify approved wallets, authorize the routers and position managers that interact with the asset, pause trading, and unwind liquidity positions when required.

Liquidity position NFTs issued through Permissioned Pools cannot be transferred. This prevents an approved holder from transferring a position to an address that has not passed the issuer’s compliance requirements. Holders can still remove their own liquidity even if they later lose permission to trade or add more funds.

Uniswap said the broader v4 protocol remains permissionless. Developers can continue creating regular pools without approval, while regulated asset issuers can select the Permissioned Pools standard when their assets require identity verification or restrictions on ownership and trading.

Superstate helped design the standard for tokenized funds and equities. Uniswap Labs previously worked with Securitize to support compliant trading for assets issued through its DS Protocol, while Dowgo contributed an ERC 3643 integration. Dowgo plans to use the system after receiving authorization under the European Union’s DLT Pilot Regime.

The launch expands Uniswap’s infrastructure for tokenized real world assets by allowing regulated products to access AMM liquidity while preserving issuer controlled compliance requirements.

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

Uniswap Labs introduced a new feature for its v4 protocol, Permissioned Pools, on July 23, 2026. This addition marks a critical step in allowing regulated assets and tokenized securities to be traded on the Uniswap platform under strict compliance controls for the first time.

Institutions gain on-chain compliance controlsPermissioned Pools allow issuers of tokenized funds and securities to restrict trading and liquidity provision exclusively to wallets that have been pre-approved. This approach departs from the traditional open-access model, where any user could interact with a Uniswap pool, by establishing an access list controlled by the asset issuer.

Participants whose wallets appear on an issuer’s approved list can trade or provide liquidity; transactions from unlisted wallets are automatically blocked. This model gives issuers the ability to maintain compliance without sacrificing on-chain functionality.

Uniswap Labs developed Permissioned Pools using a “hook,” an innovative plug-in design that lets developers customize the pool’s behavior without changing the protocol’s core architecture. Regulated asset tokens reside in separate contracts enforcing permissions, while the trading pools utilize Uniswap v4’s new accounting system.

Uniswap describes Permissioned Pools as the first open-source standard crafted to let institutions transact regulated assets on an automated market maker (AMM).

Ken Ng, head of ecosystem at Uniswap Labs, explained that this standard empowers issuers to set their own compliance rules without building custom trading systems from scratch. Projects have already begun adopting the new system.

Three companies have launched with this standard—Superstate, Securitize, and Dowgo—each contributing different expertise and use cases for the protocol.

Mini dictionary: Uniswap Labs is a US-based technology company behind the Uniswap decentralized exchange protocol, a leading automated market maker in decentralized finance (DeFi).

Early adopters and industry partnershipsSuperstate, a company specializing in the tokenization of traditional equities and funds, played a role as a design partner and helped shape the workflow for these assets.

Securitize, which offers digital compliance solutions, previously collaborated with Uniswap Labs to enable its DS Protocol tokens to be traded on-chain in a regulatory-compliant manner, providing the foundation for the Permissioned Pools feature.

European platform Dowgo developed the integration of the ERC-3643 standard and intends to use Permissioned Pools once it receives DLT TSS authorization under the European Union’s DLT Pilot Regime.

Securitize stated:

“We’re proud to partner with Uniswap on Permissioned Pools. This standard gives regulated assets access to AMM liquidity while allowing issuers to control who can interact with those assets.”

Superstate CEO Robert Leshner emphasized that prior to Permissioned Pools, compliance operated as a barrier at the point of entry, whereas now the compliance logic is built into the pool itself. He described the new structures as “the missing piece that makes tokenization work.”

Expanding DeFi access for real-world assetsThe launch reflects a broader trend of bringing regulated real-world assets to blockchain networks, with institutions demanding greater control and compliance capabilities. Major asset managers such as BlackRock, Apollo, Franklin Templeton, and VanEck have all launched tokenized funds in recent years.

Uniswap estimates the tokenized asset sector could reach as much as $11 trillion by 2030, while some analysts project a market of $5.5 trillion. As institutional adoption increases, enabling regulated pathways onto DeFi becomes increasingly important.

SourceTokenized Asset Market Projection for 2030Uniswap$11 trillionOther analysts$5.5 trillionEarlier in 2026, BlackRock’s tokenized money market fund BUIDL, issued by Securitize, began trading on Uniswap, and BlackRock also invested in UNI governance tokens. Currently, UNI trades at approximately $3.77 and maintains a market capitalization close to $3.15 billion, according to DeFiLlama.

Permissioned Pools are expected to provide issuers with the flexibility and reach of AMM-based DeFi while securing full control over participation. The next phase for market participants includes tracking Dowgo’s regulatory progress in the European Union and assessing broader adoption of the new standard by additional issuers.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

LEXINGTON, Ky.--(BUSINESS WIRE)--Valvoline Inc. (NYSE: VVV), the quick, easy, trusted leader in preventive automotive maintenance, today announced the election of Katherine Fogertey, former CFO of Shake Shack, and Scott Mezvinksy, CEO of the KFC Division of Yum! Brands, to its Board of Directors, effective July 22, 2026.Fogertey is a finance executive with more than two decades of experience spanning public company leadership and equity capital markets. She most recently served as Chief Financia.

NEW YORK--(BUSINESS WIRE)--Pershing Square Inc. (NYSE:PS) (“Pershing Square” or the “Company”) plans to release its second quarter 2026 financial results before the stock market opens on Thursday, August 13, 2026. Pershing Square CEO Bill Ackman and CIO Ryan Israel will host a live audio webcast and conference call on August 13, 2026, at 9:00 a.m. ET. The conference call may be accessed by dialing (800) 330-6710 (U.S. callers) or +1 (646) 769-9200 (non-U.S. callers); confirmation code 7272456.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of AeroVironment, Inc. (NASDAQ: AVAV) between June 25, 2025 and March 10, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.

So What: If you purchased AeroVironment securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the U.S. Space Force's Satellite Communication Augmentation Resources ("SCAR") program and the U.S. Space Force's ongoing efforts to modernize the Satellite Control Network ("SCN"); (2) accordingly, defendants overstated AeroVironment's business and financial prospects; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. 

To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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SOURCE THE ROSEN LAW FIRM, P. A.

2026 FIFA World Cup wraps up with Spain’s victory and crypto’s biggest sports marketing moment yet

Mubadala Capital, an Abu Dhabi-based Sovereign Wealth Fund managing a $385B portfolio, is bringing a tokenized private market strategy fund onchain.

Having already attracted $75M in commitments, the fund is expected to be deployed on Solana, SUI, and Base. Tokenization and issuance of the fund will be handled by KAIO, a USE-based operator.

While the bulk of existing RWA activity is dominated by US-based assets, recent developments suggest that issuers are expanding their offerings to embrace global markets.

Kaio Brings Mubadala Capital Fund to Solana In collaboration with KAIO, Mubadala Capital is bringing one of its private market strategies, the Alternative Solutions Fund (MCAS), onchain, deploying the tokenized fund on Solana, Base, and SUI.

According to KAIO, the fund has already amassed over $75M in commitments from both traditional and crypto-native backgrounds, with Coinbase reportedly adding an undisclosed investment in the fund to its balance sheet.

The fund marks Mubadala Capital’s first foray into the onchain economy, following in the footsteps of TradFi giants like BlackRock, Franklin Templeton, and Fidelity. According to Head Mubadala Capital Solutions Max Franzetti, deploying the fund onchain is expected to bring access and exposure to a much broader range of investors.

“This strategy was built on differentiated access — to deal flow, to co-investment, to a global network that most investors cannot reach on their own. Bringing it onchain extends that access to a new class of qualified investors without compromising the institutional discipline that defines how we invest.” - Max Franzetti, head of Mubadala Capital Solutions

Mubadaba’s MCAS becomes the fifth tokenized fund issued by KAIO, joining a range of similar products from TradFi heavyweights like BlackRock, Hamilton Lane, and Brevan Howard. At press time, KAIO’s self-reported TVL sits at over $143M, with MCAS representing the bulk of its AUM.

RWAs Go Global as xStocks Expands to APAC, UK  Mudadaba’s MCAS launch comes as the onchain RWA economy begins to expand its geographic horizons. While the tokenized asset sector has enjoyed blistering growth in the past year, issuance has centered almost entirely around US-based assets. This is logical given the scope and scale of the U.S. equity market, but has so far left onchain traders sidelined in exotic and emerging markets.

However, recent revelations suggest the winds of change are blowing through Solana’s flourishing RWA sector. On July 22nd, Payward Inc, the parent company operating Kraken and its subsidiary RWA issuer, xStocks, announced its intention to begin tokenizing equities from a broader range of global markets, including Hong Kong, South Korea, the U.K. and Europe.

xStocks’ expansion outside U.S. markets is no doubt driven by surging demand for exposure to the memory and AI boom currently underway in Asian markets. Explosive and volatile dynamics in South Korean equity markets have attracted the attention of the world’s traders, who are now actively seeking to take advantage of inefficiencies in what analysts argue are over-leveraged and vulnerable positions.

Regardless of motive, the inclusion of non-US equity markets in the onchain economy is undoubtedly a step forward for Solana’s RWA economy. By definition, the promise of tokenization and internet capital markets is to provide access to global markets, enabling traders and investors to gain exposure to asset classes from all four corners of the financial world.

Read More on SolanaFloor Peirce issues statement on DeFi activity regulation

SEC Commissioner Hester Peirce Warns DeFi Vaults are not Exempt From Securities Laws

Step Up to the tradingFloor

Solana [SOL] is slowly forming a bullish structure but remains below the most recent lower high at $97. At press time, the altcoin was trading at around $77, but SOL’s daily volume had surged to $1.61 billion.

Notably, a crypto analyst predicted that capital inflows and on-chain activity were starting to support SOL’s potential rise toward $120.

Solana ETFs turn positive as dormant wallets return Capital inflows came from Solana ETFs, which recorded the highest daily inflows in two weeks. The Bitwise Solana Staking ETF [BSOL] led the inflows with about 75,714 SOL worth $5.83 million, and it was the only ETF that recorded any activity on the 21st of July.

However, the positive net inflow did not last. The following day, Solana ETFs recorded outflows of 16.4K SOL worth $1.27 million, less than a quarter of the more than 75K BSOL purchased earlier.

Source: Solana Floor The daily volume of Solana ETFs traded was $54.47 million, with all assets under management nearing $1 billion. In fact, Solana and Hyperliquid ETFs account for nearly 80% of non-BTC/ETH ETF volume.

Additionally, dormant wallets returning to Solana DEXs surged to 62K last week, up from below 20K. This was equivalent to a 400% increase from the previous week. This was the highest number of returning users in a period of more than a year.

Source: Dune As Solana ETFs hit a two-week high and dormant wallets return, it hints at shifting market sentiment.

Can SOL break out and surge into the $120-$130 zone? The price charts showed Solana was forming a base at $75 after sweeping liquidity below this level. The altcoin has returned to the consolidation between $75 and $97, but the upper resistance remains a key challenge.

However, the signs of a potential breakout toward $120-$130 are emerging as a Moving Average (MA) cross occurred with the fast‑moving MA rising above the slower MA. Moreover, these targets depend on a bullish breakout in the coming weeks.

Source: SOL/USDT from Michael van de Poppe Therefore, Solana is expected to turn bullish structurally if it can close above $97.89. At press time, the RSI was supportive of the prediction as it traded above the neutral level, indicating buying pressure.

Otherwise, SOL is still bearish even though it reclaimed the most important level at $75.

Final Summary Solana ETFs’ inflows turned positive after $5.83 million was bought, and returning dormant wallets surged 400% in a week. Traders are eyeing SOL to reach the $120-$130 zone but only if it breaks out of the range and stays above $97. 

Mubadala Capital tokenizes a private markets fund with Coinbase and KAIO, launching across Base, Solana, and Sui with $75 million already onchain.

A major sovereign wealth fund just put a piece of its private investment business on a blockchain.

Mubadala Capital, the asset management arm of Abu Dhabi's Mubadala Investment Company, has launched a tokenized version of one of its private markets funds. The launch was built with Coinbase and Abu Dhabi-based tokenization firm KAIO. Mubadala's sovereign wealth fund grew 17% in 2025 to $385 billion, according to its own April 2026 results. 

Mubadala Capital itself administers more than $600 billion across private equity, credit, venture capital, and co-investment, according to The National.

The fund went live July 23 across three blockchains at once: Coinbase's Base network, Solana, and Sui. It has already pulled in about $75 million onchain, including money from Coinbase itself. 

The companies say it's the first time a major U.S. public company has used a regulated tokenized asset for its own onchain treasury management.

A bigger shift is already underwayMubadala's move fits a pattern that has been in motion. Citi's Institute for Global Perspectives and Solutions says tokenization is moving "from pilot stage toward operational deployment," in a June 2026 report.

The global market for tokenized financial assets sits at roughly $17 billion today, per DefiLlama data cited by Citi, about triple where it was a year ago. U.S. Treasuries, bonds, and money market funds make up more than 55% of that. Gold and other commodities make up another 34%. Citi expects the market to hit $5.5 trillion by 2030 in its base case, with a range of $2.7 trillion to $8.2 trillion. 

Most of that growth is expected to come from public securities, not private funds like the one Mubadala just tokenized.

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Trending on TheStreet Roundtable:Bernie Sanders rallies against crypto, AI in new campaignJPMorgan sends stark warning on the real threat to BitcoinGoldman Sachs breaks with JPMorgan over 'Clarity'That's an important distinction. Private markets are harder to scale onchain. They're illiquid and relationship-driven by nature, and tokenizing them doesn't change that. 

Citi estimates only about $100 billion each in tokenized private credit and private equity globally by 2030, small next to the trillions expected in Treasuries and public stocks.

Three things are driving the shift, per Citi: DTCC, NYSE, and Nasdaq building tokenization directly into their core systems; stablecoins and other regulated onchain money, projected to reach $1.9 trillion by 2030; and improving regulation, including progress on the US CLARITY Act.

Why Solana keeps showing upSolana, one of the three networks running Mubadala's fund, is built for speed and low fees. It processes far more transactions per second than older blockchains, at a fraction of the cost. That's made it a go-to choice for institutions testing tokenized assets, and the numbers back that up.

Solana's tokenized asset trading hit an all-time high of $5.8 billion in the second quarter, up 114% from the prior quarter, according to Blockworks Research. Tokenized equities alone made up $4.8 billion of that, more than four times the previous record. Solana now handles about 97% of all tokenized-equity trading across every blockchain. 

That growth came even as speculative trading on the network, tied to meme coins, kept cooling off. Solana's overall network revenue actually fell 43% quarter over quarter. The tokenized asset growth looks like real institutional demand, not hype.

Mubadala running its fund on Solana, alongside Base and Sui, puts it in the same camp as a growing list of institutions using Solana as settlement infrastructure, not just a trading venue. Access to Mubadala's fund is limited to qualified institutional and accredited investors, keeping it within existing regulatory lines even as the infrastructure moves onchain.

https://fortune.com/crypto/2025/10/16/andreessen-horowitzs-crypto-arm-invests-50-million-in-solana-staking-protocol-jito/

Tokenized equities on the Solana blockchain have witnessed significant growth, rising from a volume of $1.34 million to $3.32 billion over the past year. This reflects Solana’s expanding role in the onchain activity around tokenized stocks and similar equity exposures. Recent data indicates that Solana handles over 95% of cross-chain tokenized equity volume, highlighting its dominance in this sector. The increase in activity points to a burgeoning adoption of tokenized equities, making them a substantial component of decentralized exchange activity within the Solana ecosystem.

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Key Takeaways Solana’s tokenized equities volume has surged, suggesting increased adoption and integration into decentralized finance. The dominance of Solana in handling cross-chain tokenized equity volume indicates its competitive positioning in the market. The rapid growth in tokenized equities could bolster confidence in Solana’s broader ecosystem and financial prospects. What to Watch Market participants may observe how Solana’s continued growth in tokenized equities impacts its platform’s adoption and overall blockchain activity. Developments such as regulatory announcements or partnerships could further influence Solana’s market position. Additionally, movements in Solana’s price may reflect the broader acceptance and success of its tokenized equities market, with potential for significant shifts in market sentiment.

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Term Structure

Contract Odds Δ since publish Volume 24h August 1 2026 3.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.3% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.4% — — View market → August 1 2026 3.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 27% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →

Looking at Solana’s key stats, the undervaluation narrative starts to gain more weight.

On the RWA front, Solana’s latest Q2 report showed $5.8 billion in Tokenized Asset Volume, up 114% QoQ and marking its sixth quarterly ATH.

The key takeaway?

Tokenized Equities alone accounted for 84% of total volume, making Solana a major hub for institutional RWA activity. But the momentum doesn’t stop there.

Source: X Digging deeper, Solana currently dominates tokenized stock trading, accounting for 96% of total volume, with xStocks driving over 80% of the activity. In this context, the latest xStocks expansion adds another layer to this growth story, moving beyond U.S. stocks to bring other global equities on-chain.

This broader access could further strengthen Solana’s position in the tokenized asset market. 

Source: X In short, Solana’s [SOL] $5.8 billion Q2 RWA volume could be just the start of a bigger trend.

And it looks like investors are already positioning for this growth.

According to Dune data, dormant wallets returning to Solana DEXs jumped to 62k last week, up 400% week-over-week. This suggests that previously inactive users are coming back on-chain as new opportunities continue expanding across the ecosystem. 

However, the bigger story behind Solana’s growth goes beyond its RWA market or DEX volume. The real impact is how this activity is translating into network adoption, with rising dormant activity being just one piece of the puzzle.

And the timing couldn’t be better, as SOL/ETH is approaching a key zone.

Solana’s on-chain strength meets a key SOL/ETH turning point The impact of Solana’s growing RWA and DEX momentum is now showing up across the network.

According to Chainspect data, Solana has generated more revenue than Ethereum for 23 consecutive days. With Solana bringing in around $515k compared to Ethereum’s $133k, the network generated roughly $382k more revenue, or nearly 3.9x Ethereum’s total.

And this isn’t just a short-term spike. Solana currently leads all blockchains in 24-hour DEX volume at $1.5 billion, ahead of Ethereum’s $1.29 billion.

Put together, Solana is showing a strong on-chain growth cycle, where rising DEX activity and RWA adoption are translating into higher network usage, liquidity, and revenue.

Source: TradingView (SOL/ETH) In this context, xStocks’ expansion adds another catalyst for Solana to continue building on this momentum.

From a technical perspective, the timing looks interesting.

As the chart above shows, the SOL/ETH ratio is approaching the 0.035-0.04 range, a zone that previously triggered a strong rally in May as capital rotated into Solana. With Solana’s on-chain strength improving against Ethereum and ETH facing resistance around the $2k level, the setup could favor further upside in the SOL/ETH ratio.

The key takeaway?

This rotation may be more than just a short-term technical move. With Solana’s on-chain growth continuing to accelerate, it could signal a broader divergence between SOL’s strength and ETH’s performance through the rest of Q3.

Final Summary

The Clarity Act, a significant piece of U.S. legislation, aims to reclassify certain tokens as digital commodities and place them under the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC). The bill is designed to enhance transparency for digital asset projects and provide a more defined regulatory framework for smart contract networks and decentralized applications, which could benefit platforms like Ethereum and Solana. The recent commentary from @laurashin highlights the potential positive impact of the Clarity Act on these platforms, emphasizing the commodity-like nature of Bitcoin and Ether.

The Clarity Act market on Polymarket shows a 36.5% probability of the bill being signed into law by the end of 2026. This marks a slight decline from 38% a day ago and 40% a week ago. This pricing suggests a moderate level of confidence in the bill’s passage, reflecting ongoing political negotiations and regulatory developments. The act’s progression could significantly influence the regulatory environment for cryptocurrencies and smart contract platforms.

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Markets are closely monitoring developments related to the Clarity Act, as President Donald Trump, key congressional leaders, and influential figures in the crypto industry play pivotal roles. The bill’s advancement could lead to clearer regulatory conditions for platforms operating within the Ethereum and Solana ecosystems, supporting their growth and innovation.

Key Takeaways The Clarity Act appears to support the classification of Bitcoin and Ether as digital commodities, potentially benefiting smart contract platforms. Current market pricing suggests a moderate probability of the Clarity Act being signed into law by the end of 2026. Market activity reflects uncertainty, with recent shifts in probabilities indicating nuanced expectations about the bill’s legislative journey. What to Watch Observers should track statements and decisions from President Donald Trump, as his endorsement or opposition could significantly impact market perceptions. Congressional actions, such as votes or public comments from key committee chairs like Tim Scott and Cynthia Lummis, will also be crucial indicators. Developments in the regulatory landscape, particularly those affecting Ethereum and Solana, could provide additional context for the Clarity Act’s potential impact on the crypto industry.

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The Digital Asset Market Clarity Act, better known as the CLARITY Act (H.R. 3633), passed the US House back in July 2025 and cleared the Senate Banking Committee with a 15-9 bipartisan vote on May 14, 2026. As of late July 2026, the bill is positioned for a full Senate vote once bipartisan negotiators iron out remaining sticking points, primarily around ethics provisions.

What the CLARITY Act actually does The CLARITY Act tries to fix jurisdictional ambiguity by drawing definitive lines. Digital commodities would fall under CFTC oversight. Investment contracts would stay in the SEC’s lane. Beyond jurisdiction, the bill proposes comprehensive rules for token classification, disclosure requirements, trading platform regulations, custody standards, and even provisions addressing decentralized finance.

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The bipartisan support is notable. Democratic Senators Ruben Gallego and Angela Alsobrooks voted in favor during the Banking Committee markup, joining their Republican colleagues.

Why Grayscale cares this much Zach Pandl, Grayscale’s head of research, has framed the CLARITY Act as the key that unlocks institutional investment at scale. His argument is straightforward: pension funds, endowments, and asset managers won’t meaningfully allocate to digital assets until the regulatory framework is settled.

Pandl has identified specific networks that stand to benefit most from institutional inflows once the bill passes. His shortlist includes Ethereum, Solana, BNB, and Canton Network.

The odds and the obstacles Polymarket odds as of May 2026 placed the probability of the CLARITY Act passing in 2026 at roughly 67%. Senate Republicans have indicated they’re preparing updated bill text with essential ethics provisions, a concession apparently needed to secure enough Democratic votes for passage. The ethics language reportedly addresses concerns about conflicts of interest among officials who might hold or trade digital assets while overseeing their regulation.

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