Track market-moving stories before they get noisy

AST SpaceMobile (ASTS +11.83%) develops constellations of low Earth orbit (LEO) satellites that help telecom companies -- like AT&T (T -0.19%) and Verizon (VZ -0.16%) -- expand their wireless networks to remote areas that their terrestrial towers can't reach. It's launched 13 of its BlueBird satellites so far, and 12 of them are currently in orbit.

But after closing at a record high of $133.09 per share on May 28, 2026, AST's stock dropped back to the low $60s. A major cause of that decline was its slower-than-expected expansion. Back in late 2025, it claimed it could have 45 to 60 satellites in orbit by the end of 2026. But after losing BlueBird 7 in orbit in April, it reduced that target to just 45 satellites. During its second-quarter report in July, it pushed back the 45-satellite target to early 2027.

Image source: Getty Images.

That delay was disappointing, but AST has plenty of irons in the fire. It's already working with more than 60 carriers to reach over 3 billion wireless subscribers, it has a $1.3 billion backlog, and it still plans to expand its constellation to at least 248 satellites over the long term. From 2025 to 2028, analysts expect AST's revenue to surge from $71 million in 2025 to $1.73 billion. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive in the final two years.

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Moneyball Superscore

68/100

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With an enterprise value of $21 billion, AST's stock isn't cheap at 33 times next year's sales. But if you expect it to get back on track and aggressively expand its satellite network over the next few years, its recent pullback could be a great buying opportunity.

Leo Sun has positions in Verizon Communications. The Motley Fool has positions in and recommends AST SpaceMobile. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.

EUR/JPY extends steep fall into second consecutive day (down 1.3% durian Asian / European trading on Thursday), losing so far over 2%.

Fresh strength of Japanese yen was sparked by hawkish narrative of Japanese officials which points to faster pace of BOJ rate hikes against growing inflationary pressures, while analysts sidelined scenario about another intervention, after yen lost the most of gains from late July intervention.

Sharp drop that accelerated further on Thursday, has so far retraced the largest part of 179.36/186.02 recovery leg (over 61.8%), with target at 180.93 (Fibo 76.4%) being in focus.

Technical studies on daily chart turned to full bearish configuration, but oversold conditions suggest that bears may face increased headwinds.

Strong support provided by the top of ascending weekly Ichimoku cloud (181.70, which has already contained attack on early Aug) are expected to hold bears again for consolidation / limited correction.

Two large bearish daily candles weigh heavily on near-term action and contribute to scenario of positioning for fresh push lower, targeting 180 (psychological) and 179.36 Au 3 spike low).

Upticks should be ideally capped under 182.70 zone (broken Fibo 50%) to keep bears in play.

Res: 181.90; 182.70; 183.48; 184.26.
Sup: 181.30; 180.93; 180.00; 179.36.

In what is being referred to as potentially social media's "Big Tobacco moment," Meta Platforms (META +2.47%) recently announced an agreement with 52 attorneys general under which the parent company of Facebook and Instagram will pay up to $18 billion over the next decade and significantly change its policies for teen users.

While the fine would be the largest consumer-protection settlement ever, excluding Big Tobacco, most Wall Street analysts and experts believe Meta avoided what could have been a vastly larger financial settlement.

But the ramifications from this landmark teen-safety lawsuit could be far worse for social media company Snap (SNAP +4.49%). Here's why.

Image source: Getty Images.

What the Meta settlement means Per the agreement, Meta will pay $12.7 billion to the participating states and U.S. territories in the lawsuit in annual installments over the next decade. The remaining $5.3 billion will be paid based on two conditions: Alphabet's YouTube and TikTok must apply some of the same changes that Meta is making for teens, and those companies must collectively pay a matching $5.3 billion.

Most analysts considered the agreement fairly benign because, before it was agreed to, the maximum damages Meta faced were supposedly as high as $1.4 trillion, with state attorneys general realistically targeting a figure somewhere in the $200 billion range.

Perhaps the more significant part of the case concerns the changes Meta agreed to make to its platform relating to teen usage. Meta plans to limit teen usage to two hours per day across its platforms, and this limit can only be turned off with a parent's permission. Teens will also not be allowed to use Meta's apps between midnight and 6 a.m., and, by default, notifications will be muted between 8 a.m. and 3 p.m., during school hours.

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Other changes include preventing teens from seeing the number of likes and reactions on their posts, and eliminating cosmetic surgery and extreme makeup filters.

Many questions remain about how effective these changes will be and how easily teens will be able to get around them. But it's worth noting that Meta doesn't generate significant revenue from teens. Meta CEO Mark Zuckerberg testified that teens account for only 1% of the company's revenue and that Meta generates nearly all of its revenue from advertising.

I'm not sure that fully quantifies how much advertising revenue teen audiences actually generate for Meta's social media platforms, but the consensus on Wall Street is that this is not an overly punitive outcome for Meta, at least compared to what it could have been.

Why it could be a bigger deal for Snap Snap is nowhere near as big a company as Meta, with a market cap of roughly $9.4 billion as of this writing. Through the first six months of the year, Snap has generated about $3.1 billion of revenue.

But it also looks like Snap will soon face similar charges to the ones Meta just addressed.

Pennsylvania Attorney General Dave Sunday recently announced that the state is suing Snap for allegedly failing to be truthful with parents about the type of content teens were exposed to on Snapchat. Furthermore, the lawsuit accuses Snap of using addictive features to keep younger users engaged. The stock initially sank on the news.

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Moneyball Superscore

56/100

Today's Change

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5.59

Snap is much more reliant on younger users than Meta. Back in April, a Pew Research report showed that teens were using Snapchat for messaging more frequently each day than TikTok or Instagram. Teens also reported posting more frequently on Snapchat than on other platforms.

A study from Harvard's T.H. Chan School of Public Health conducted in 2022 and published in 2024 found that 41% of Snapchat's overall revenue came from users under 18. That was the largest share of revenue from that age group among similar platforms such as TikTok, YouTube, and Instagram.

Snap already faces significant challenges. The stock is down nearly 80% since its 2017 IPO due to a lack of profitability, competition, an inability to grow high-quality customers, and shareholder dilution.

Investors may have anticipated that Snap could face fallout from similar issues to those that Meta is facing, but usage restrictions like those being implemented at Meta could be far more detrimental to Snap's business and revenue.

Tokyo, Japan--(Newsfile Corp. - September 3, 2026) - TNL Mediagene (NASDAQ: TNMG) (the "Company"), a technology and digital media company providing AI-driven advertising, marketing technology, content commerce and data analytics solutions, and operating multi-language digital media brands across Asia, today announced that it will implement a 1-for-8 share consolidation (also known as reverse stock split) of the Company's ordinary shares (the "Share Consolidation"). The Company's ordinary shares will continue to trade on The Nasdaq Capital Market under the existing ticker symbol "TNMG" and are expected to begin trading on a split-adjusted basis with a newly assigned CUSIP number of G8924F139 when the market opens on Tuesday, September 8, 2026.

The Share Consolidation is intended to increase the per-share trading price of the Company's ordinary shares to assist in regaining compliance with the Nasdaq minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market. Additionally, the Share Consolidation is intended to enhance the Company's attractiveness to a broader range of institutional investors, particularly among institutions that require a minimum share price for investment.

On August 25, 2026, the Company's shareholders approved a share consolidation ratio within a range of consolidation of up to 1-to-10 at the Company's Extraordinary General Meeting of Shareholders and authorized the Board of Directors of the Company to determine and execute the final ratio and exact date. The Company's Board of Directors subsequently approved the final share consolidation ratio of 1-for-8 on August 27, 2026.

When the Share Consolidation becomes effective, every eight (8) shares of the Company's issued and outstanding ordinary shares will be combined into one (1) issued and outstanding ordinary share. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the next whole share. The Share Consolidation will affect all shareholders uniformly and will not affect any shareholder's percentage ownership interest in the Company (except to the extent that the Share Consolidation would result in any of the shareholders owning a fractional interest).

Computershare is acting as transfer and exchange agent for the Share Consolidation. Registered shareholders who hold ordinary shares are not required to take any action to receive split-adjusted shares. Shareholders who own shares via a broker, bank, trust or other nominee organization will have their positions automatically adjusted to reflect the Share Consolidation, subject to such organization's particular processes, and will not be required to take any action in connection with the Share Consolidation.

About TNL Mediagene

Headquartered in Tokyo, TNL Mediagene (NASDAQ: TNMG) is a technology and digital media company providing AI-driven advertising, marketing technology, content commerce and data analytics solutions, and operating multi-language digital media brands across Asia. Formed in May 2023 through the merger of Japan's Mediagene Inc. and Taiwan's The News Lens Co., Ltd., the Company combines advertising and marketing technology platforms with a portfolio of established digital media brands to deliver integrated solutions for the evolving digital landscape.

The Company's technology offerings include AI-driven advertising, marketing and digital studio services, content commerce, and advanced data analytics capabilities. These solutions are supported by the Company's well-established multi-language digital media brands in Japanese, Chinese, and English, spanning business, technology, lifestyle, and culture, which provide audience engagement and first-party data.

Known for its appeal to younger audiences, and high-quality content, TNL Mediagene has approximately 480 employees with offices in Japan and Taiwan.

https://www.tnlmediagene.com/

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to TNL Mediagene. Forward-looking statements generally relate to future events or TNL Mediagene's future financial or operating performance. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "aim," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements in this communication include, but are not limited to, statements regarding the Company's ability to satisfy the conditions of the Panel's decision and to regain and maintain compliance with Nasdaq's continued listing requirements, and the potential delisting of the Company's securities from Nasdaq. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for TNL Mediagene to predict these events or how they may affect TNL Mediagene. In addition, risks and uncertainties are described in TNL Mediagene's filings with the Securities and Exchange Commission, including the risks and uncertainties set forth under the heading "Risk Factors" in TNL Mediagene's FY2025 Annual Report on Form 20-F filed on April 30, 2026, as may be supplemented or amended by the TNL Mediagene's Reports of a Foreign Private Issuer on Form 6-K. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. TNL Mediagene cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that TNL Mediagene presently does not know or that TNL Mediagene currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by TNL Mediagene, its directors, officers or employees or any other person. Except as required by applicable law, TNL Mediagene does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of TNL Mediagene as of any date subsequent to the date of this communication.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312767

Source: TNL Mediagene

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Achieved Record Annual Revenue and Adjusted Diluted Earnings Per Share

Completed Transformational Acquisition of Honeywell Technologies’ Productivity Solutions and Services Business on August 3, 2026

Announces Fiscal Year 2027 Guidance – Adjusted Diluted EPS Expected to Grow 23% at the Midpoint of Guidance Range

MILWAUKEE, Sept. 03, 2026 (GLOBE NEWSWIRE) -- Brady Corporation (NYSE: BRC) (“Brady” or “Company”), a world leader in identification, safety and productivity solutions, today announced its financial results for its fiscal 2026 fourth quarter and the year ended July 31, 2026.

“The results of the fourth quarter and full year 2026 are a clear indication of the momentum we are achieving at Brady Corporation,” said Vineet Nargolwala, President and Chief Executive Officer. “Our strong organic growth, with additional contributions from acquisitions and foreign currency translation, drove 10% sales growth for the quarter and the year. Organic sales growth and expanding margins drove a 15% increase in adjusted earnings per share in 2026 versus 2025.”

He continued, “As we enter 2027, continued growth in our Identification Solutions business (IDS), complemented by the addition of the newly named Intelligent Productivity Solutions business (IPS), is expected to drive 23% growth in adjusted diluted earnings per share* at the midpoint of our guidance range.”

Mr. Nargolwala concluded, “With the closing of the IPS acquisition, Brady becomes a stronger and more global industrial technology company. Our addressable market is expanding to $14 billion as we grow our presence in manufacturing, transportation, logistics, retail and healthcare markets. As we enter a new chapter for Brady, I could not be more excited about our opportunity to drive value for all of our stakeholders.”

Fourth Quarter Financial Results:
Sales for the quarter ended July 31, 2026 were $436.9 million, an increase of 10.0% compared to $397.3 million in the same quarter last year. The year-over-year increase was primarily driven by organic growth of 8.4%. By region, sales increased 13.5% in the Americas & Asia and 3.2% in Europe & Australia, primarily driven by organic sales growth of 11.6% in the Americas & Asia and 2.1% in Europe & Australia. See the Segment Information table for growth drivers and segment profit.

Income before income taxes decreased 8.2% to $55.6 million in the quarter ended July 31, 2026, compared to $60.5 million in the same quarter last year, reflecting acquisition and integration-related costs in the fourth quarter of 2026. Adjusted Income Before Income Taxes* was $89.0 million, an increase of 20.0% compared to $74.2 million in the fourth quarter of last year. See the GAAP to Non-GAAP Measures table for detailed adjustments.

Net income for the quarter was $45.6 million compared to $49.9 million in the same quarter last year, reflecting acquisition and integration-related costs in the fourth quarter of 2026. Adjusted Net Income* increased 17.5% to $70.7 million compared to $60.2 million in the same quarter last year. Earnings per diluted Class A Nonvoting Common Share was $0.96 compared to $1.04 in the same quarter last year. Adjusted Diluted EPS* was $1.48 compared to $1.26 in the same quarter last year, an increase of 17.5%.

Fiscal Year Financial Results:
Sales for the year ended July 31, 2026 increased 9.8% to $1.66 billion compared to $1.51 billion in the prior fiscal year. The year-over-year increase was primarily driven by organic growth of 5.3%. By region, sales increased 11.4% in the Americas & Asia and 6.7% in Europe & Australia, primarily driven by organic sales growth of 7.5% in the Americas & Asia and 1.2% in Europe & Australia.

Income before income taxes increased 9.4% to $259.4 million in the year ended July 31, 2026, compared to $237.1 million in the prior year. Adjusted Income Before Income Taxes* was $322.1 million, an increase of 15.2% compared to $279.5 million in 2025.

Net income was $205.4 million, an increase of 8.5% compared to $189.3 million last year. Adjusted Net Income* was $252.6 million, an increase of 14.2% compared to $221.3 million in 2025. Earnings per diluted Class A Nonvoting Common Share was $4.30, an increase of 9.1% compared to $3.94 in 2025. The company achieved record Adjusted Diluted EPS* of $5.29, a 15.0% increase compared to $4.60 in 2025.

Brady’s Chief Financial Officer, Ann Thornton, said, “We continued our strong momentum and achieved another annual adjusted earnings per share record, increased our cash flow from operating activities nearly 35% to $244.1 million in fiscal 2026 compared to $181.2 million in fiscal 2025, and returned $88.3 million to our shareholders in the form of dividends and share buybacks. Our net cash position of $172.2 million as of July 31, 2026, provided significant support for our acquisition of the Intelligent Productivity Solutions business. Our strong balance sheet allows us to continue to invest in organic growth, reduce our net leverage, and continue to return funds to our shareholders through dividends and share buybacks to drive long-term shareholder value.”

Fiscal 2027 Guidance:
The Company expects Adjusted Diluted EPS* for the year ending July 31, 2027 to range from $6.25 to $6.75 per share, which represents a range of growth of between 18.1 percent to 27.6 percent compared to 2026. The Company expects approximately $0.80 Adjusted Diluted EPS* accretion from the IPS segment, net of the cost of financing the transaction, with the majority of the contribution in the second half of the fiscal year as the business is integrated.

The Company expects revenue from the IDS segment to grow approximately 5 percent organically, and expects the IPS segment to contribute revenue of approximately $1.15 billion for the year ending July 31, 2027. Segment profit as a percentage of sales is expected to be approximately 20 percent within the IDS segment, and is expected to be in the low-double digits within the IPS segment.

Other elements of the Company’s 2027 guidance include depreciation expense of approximately $45 million, capital expenditures of approximately $40 million, and a full-year income tax rate of approximately 21 percent. Fiscal 2027 guidance is based upon foreign currency exchange rates as of July 31, 2026, and assumes continued economic growth.

A webcast regarding Brady’s fiscal 2026 fourth quarter financial results will be available at www.bradycorp.com/investors beginning at 7:30 a.m. central time today.

Brady Corporation (NYSE: BRC) is a global industrial technology company and a leading provider of identification, safety, and productivity solutions that help organizations of all sizes to identify, connect, protect, track, and optimize what matters most. By combining trusted identification technologies with advanced data capture, enterprise mobility, software and workflow solutions, Brady’s comprehensive offerings enable its customers to improve safety, productivity, accuracy, and operational performance across their most critical functions and in the world’s most demanding environments. For more than 110 years, Brady has established trust and demonstrated its commitment to innovation, serving customers across manufacturing, logistics, healthcare, electronics, telecommunications, aerospace, construction, and other key industries, to make their work safer, smarter, and more connected. Headquartered in Milwaukee, Wisconsin, Brady employs approximately 9,300 people worldwide. Brady stock trades on the New York Stock Exchange under the symbol BRC. Learn more at www.bradycorp.com.

* Adjusted Income Before Income Taxes, Adjusted Net Income, and Adjusted Diluted EPS are non-GAAP measures. See appendix for more information on these measures, including reconciliations to the most directly comparable GAAP measures.

In this release, statements that are not reported financial results or other historic information are “forward-looking statements.” These forward-looking statements relate to, among other things, statements about the success of the acquisition, including anticipated benefits and synergies of the transaction, future opportunities for the combined company, and any other statements regarding the establishment of a new reporting segment for the IPS business, the combined company’s future operations and future financial position, anticipated economic activity, business strategies, targets, future earnings, anticipated growth, market opportunities, debt levels and cash flows, competition and other expectations and estimates for future periods including plans and objectives of management for future operations.

The use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “plan” or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions, and other factors, some of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For the Company, uncertainties arise from: the ability of the Company and the IPS business to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; potential difficulties integrating the IPS business, or the costs of integrating the IPS business exceeding original estimates; failure of the Company to achieve the anticipated benefits and synergies of the transaction identified in this release on the timeline indicated or at all; the establishment of a new reporting segment for the IPS business; increased cost of materials, labor, material shortages and supply chain disruptions, including as a result of tariffs or other impacts of the global trade environment; decreased demand for the Company’s products; the Company’s ability to compete effectively or to successfully execute our strategy; the Company’s ability to develop technologically advanced products that meet customer demands; the Company’s ability to identify, integrate and grow acquired companies, and to manage contingent liabilities from divested businesses; difficulties in protecting the Company’s websites, networks, and systems against security breaches; extensive regulations by U.S. and non-U.S. governmental and self-regulatory entities; risks associated with the loss of key employees; litigation, including product liability claims; global climate change and environmental regulations; foreign currency fluctuations; our indebtedness, financial condition and fulfillment of obligations thereunder; the ability to service our indebtedness; changes in tax legislation and tax rates; potential write-offs of goodwill and other intangible assets; differing interests of voting and non-voting shareholders and changes in the regulatory and business environment around dual-class voting structures; numerous other matters of national, regional and global scale, including major public health crises and government responses thereto and those of a political, economic, business, competitive, and regulatory nature contained from time to time in the Company’s U.S. Securities and Exchange Commission filings, including, but not limited to, those factors listed in the “Risk Factors” section within Item 1A of Part I of the Company’s Form 10-K for the year ended July 31, 2026.

These uncertainties may cause the Company’s actual future results to be materially different than those expressed in its forward-looking statements. The Company does not undertake to update its forward-looking statements except as required by law.

For More Information Contact:
Investor Contact: Ann Thornton (414) 438-6887
Media Contact: Kate Venne (414) 358-5176 

        BRADY CORPORATION AND SUBSIDIARIES       CONSOLIDATED STATEMENTS OF INCOME       (Unaudited; Dollars in thousands, except per share data)                Three months ended July 31, Year ended July 31,  2026   2025   2026   2025 Net sales$436,904  $397,275  $1,661,565  $1,513,605 Cost of goods sold 205,770   197,044   801,736   752,783 Gross margin 231,134   200,231   859,829   760,822 Operating expenses:       Research and development 22,899   23,054   94,031   79,889 Selling, general and administrative 148,117   117,885   502,312   444,295 Total operating expenses 171,016   140,939   596,343   524,184         Operating income 60,118   59,292   263,486   236,638         Other income (expense):       Investment and other income 1,680   2,356   5,628   5,206 Interest expense (6,232)  (1,143)  (9,699)  (4,747)        Income before income taxes 55,566   60,505   259,415   237,097         Income tax expense 9,975   10,629   54,037   47,841         Net income$45,591  $49,876  $205,378  $189,256         Net income per Class A Nonvoting Common Share:       Basic$0.97  $1.05  $4.34  $3.97 Diluted$0.96  $1.04  $4.30  $3.94         Net income per Class B Voting Common Share:       Basic$0.97  $1.05  $4.33  $3.96 Diluted$0.96  $1.04  $4.29  $3.92         Weighted average common shares outstanding:       Basic 47,200   47,335   47,285   47,641 Diluted 47,716   47,780   47,750   48,092          BRADY CORPORATION AND SUBSIDIARIES   CONSOLIDATED BALANCE SHEETS   (Dollars in thousands)        July 31, 2026 July 31, 2025    ASSETS   Current assets:   Cash and cash equivalents$187,149  $174,349 Accounts receivable, net of allowance for credit losses of $7,742 and $7,876, respectively 260,938   231,944 Inventories 225,214   200,881 Prepaid expenses and other current assets 15,231   14,661 Total current assets 688,532   621,835 Property, plant and equipment—net 254,460   225,572 Goodwill 685,968   676,945 Other intangible assets 97,833   105,374 Deferred income taxes 21,126   20,862 Operating lease assets 67,916   58,422 Other assets 36,114   25,243 Total$1,851,949  $1,734,253 LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$108,703  $105,028 Accrued compensation and benefits 105,777   92,657 Taxes, other than income taxes 22,161   21,537 Accrued income taxes 7,443   5,547 Current operating lease liabilities 17,020   15,234 Other current liabilities 94,399   90,329 Total current liabilities 355,503   330,332 Long-term debt 14,985   99,766 Long-term operating lease liabilities 51,588   43,565 Other liabilities 72,311   68,379 Total liabilities 494,387   542,042 Stockholders’ equity:   Common stock:   Class A nonvoting common stock—Issued 51,261,487 shares, and outstanding 43,360,586 and 43,530,012 shares, respectively 513   513 Class B voting common stock—Issued and outstanding, 3,538,628 shares 35   35 Additional paid-in capital 374,456   359,269 Retained earnings 1,476,978   1,317,739 Treasury stock—7,900,901 and 7,731,475 shares, respectively, of Class A nonvoting common stock, at cost (419,618)  (393,186)Accumulated other comprehensive loss (74,802)  (92,159)Total stockholders’ equity 1,357,562   1,192,211 Total$1,851,949  $1,734,253      BRADY CORPORATION AND SUBSIDIARIES   CONSOLIDATED STATEMENTS OF CASH FLOWS   (Unaudited; Dollars in thousands)    Year ended July 31,  2026   2025 Operating activities:   Net income$205,378  $189,256 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation and amortization 44,870   40,639 Stock-based compensation expense 22,855   11,882 Deferred income taxes 2,361   (7,623)Other (1,675)  (2,540)Changes in operating assets and liabilities:   Accounts receivable (24,074)  (14,356)Inventories (19,183)  (18,889)Prepaid expenses and other assets (1,369)  (2,098)Accounts payable and accrued liabilities 13,208   (9,862)Income taxes 1,756   (5,213)Net cash provided by operating activities 244,127   181,196     Investing activities:   Purchases of property, plant and equipment (51,473)  (27,577)Acquisition of businesses, net of cash acquired (17,416)  (144,541)Other 9,873   864 Net cash used in investing activities (59,016)  (171,254)    Financing activities:   Payment of dividends (46,139)  (45,542)Proceeds from exercise of stock options 11,318   6,171 Payments for employee taxes withheld from stock-based awards (3,345)  (2,683)Purchase of treasury stock (42,204)  (50,838)Proceeds from borrowing on credit agreement 69,500   266,846 Repayment of borrowing on credit agreement (154,281)  (258,015)Other (12,220)  190 Net cash used in financing activities (177,371)  (83,871)    Effect of exchange rate changes on cash and cash equivalents 5,060   (1,840)    Net increase (decrease) in cash and cash equivalents 12,800   (75,769)Cash and cash equivalents, beginning of period 174,349   250,118     Cash and cash equivalents, end of period$187,149  $174,349      BRADY CORPORATION AND SUBSIDIARIES       SEGMENT INFORMATION       (Unaudited; Dollars in thousands)                Three months ended July 31, Year ended July 31,  2026   2025   2026   2025 NET SALES       Americas & Asia$296,068  $260,789  $1,106,620  $993,715 Europe & Australia 140,836   136,486   554,945   519,890 Total$436,904  $397,275  $1,661,565  $1,513,605         SALES INFORMATION       Americas & Asia       Organic 11.6%  4.3%  7.5%  4.8%Acquistions 1.7%  9.8%  3.3%  8.3%Currency 0.2%  —%  0.6%  (0.6)%Divestiture —%  —%  —%  (0.4)%Total 13.5%  14.1%  11.4%  12.1%Europe & Australia       Organic 2.1%  (1.3)%  1.2%  (1.8)%Acquistions —%  14.4%  —%  14.7%Currency 1.1%  5.7%  5.5%  1.4%Total 3.2%  18.8%  6.7%  14.3%Total Company       Organic 8.4%  2.4%  5.3%  2.6%Acquistions 1.1%  11.3%  2.2%  10.5%Currency 0.5%  2.0%  2.3%  —%Divestiture —%  —%  —%  (0.3)%Total 10.0%  15.7%  9.8%  12.8%        SEGMENT PROFIT       Americas & Asia$74,271  $51,617  $256,615  $209,765 Europe & Australia 18,677   15,070   74,301   56,942 Total segment profit$92,948  $66,687  $330,916  $266,707 SEGMENT PROFIT AS A PERCENT OF NET SALES       Americas & Asia 25.1%  19.8%  23.2%  21.1%Europe & Australia 13.3%  11.0%  13.4%  11.0%Total 21.3%  16.8%  19.9%  17.6%                 Three months ended July 31, Year ended July 31,  2026   2025   2026   2025 Total segment profit$92,948  $66,687  $330,916  $266,707 Unallocated amounts:       Administrative costs (32,830)  (7,395)  (67,430)  (30,069)Investment and other income 1,680   2,356   5,628   5,206 Interest expense (6,232)  (1,143)  (9,699)  (4,747)Income before income taxes$55,566  $60,505  $259,415  $237,097          GAAP to NON-GAAP MEASURES
 (Unaudited; Dollars in Thousands, Except Per Share Amounts)             In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconciliation to the most closely related GAAP measure.
              Adjusted Income Before Income Taxes: Brady is presenting the non-GAAP measure, “Adjusted Income Before Income Taxes.”  This is not a calculation based upon GAAP.  The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures.  We do not view these items to be part of our ongoing results.  We believe this profit measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year.  The table below provides a reconciliation of the GAAP measure of Income before income taxes to the non-GAAP measure of Adjusted Income Before Income Taxes:
                    Three months ended July 31, Year ended July 31,       2026   2025   2026   2025 Income before income taxes (GAAP measure)$55,566 $60,505 $259,415 $237,097  Amortization expense  5,151  4,778  20,919  18,916  Non-recurring acquisition-related costs and other related expenses (1)  22,241  -  35,747  5,059  Executive transition costs  6,051  -  6,051  -  Facility closure and other reorganization costs  -  8,890  -  18,474 Adjusted Income Before Income Taxes (non-GAAP measure)$89,009 $74,173 $322,132 $279,546  (1) Non-recurring acquisition-related costs and other related expenses includes third party integration support, financing fees, legal and other administrative expenses.
             Adjusted Income Tax Expense:     Brady is presenting the non-GAAP measure, “Adjusted Income Tax Expense.”  This is not a calculation based upon GAAP.  The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures.  We do not view these items to be part of our ongoing results.  We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year.  The table below provides a reconciliation of the GAAP measure of Income tax expense to the non-GAAP measure of Adjusted Income Tax Expense:
                    Three months ended July 31, Year ended July 31,       2026   2025   2026   2025 Income tax expense (GAAP measure)$9,975 $10,629 $54,037 $47,841  Amortization expense  1,247  1,148  5,050  4,550  Non-recurring acquisition-related costs and other related expenses (1)  5,561  -  8,937  1,265  Executive transition costs  1,513  -  1,513  -  Facility closure and other reorganization costs  -  2,222  -  4,618 Adjusted Income Tax Expense (non-GAAP measure)$18,296 $13,999 $69,537 $58,274                         Adjusted Net Income:     Brady is presenting the non-GAAP measure, “Adjusted Net Income.”  This is not a calculation based upon GAAP.  The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures.  We do not view these items to be part of our ongoing results.  We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year.  The table below provides a reconciliation of the GAAP measure of Net income to the non-GAAP measure of Adjusted Net Income:
                    Three months ended July 31, Year ended July 31,       2026   2025   2026   2025 Net income (GAAP measure)$45,591 $49,876 $205,378 $189,256  Amortization expense  3,904  3,630  15,869  14,366  Non-recurring acquisition-related costs and other related expenses (1)  16,680  -  26,810  3,794  Executive transition costs  4,538  -  4,538  -  Facility closure and other reorganization costs  -  6,668  -  13,856 Adjusted Net Income (non-GAAP measure)$70,713 $60,174 $252,595 $221,272                         Adjusted Diluted EPS:     Brady is presenting the non-GAAP measure, “Adjusted Diluted EPS.”  This is not a calculation based upon GAAP.  The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements.  We do not view these items to be part of our ongoing results.  We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year.  The table below provides a reconciliation of the GAAP measure of Net income per Class A Nonvoting Common Share to the non-GAAP measure of Adjusted Diluted EPS (Note that certain amounts will not foot due to rounding):
                    Three months ended July 31, Year ended July 31,       2026   2025   2026   2025 Net income per Class A Nonvoting Common Share (GAAP measure)$0.96 $1.04 $4.30 $3.94  Amortization expense  0.08  0.08  0.33  0.30  Non-recurring acquisition-related costs and other related expenses (1)  0.35  -  0.56  0.08  Executive transition costs  0.10  -  0.10  -  Facility closure and other reorganization costs  -  0.14  -  0.29 Adjusted Diluted EPS (non-GAAP measure)$1.48 $1.26 $5.29 $4.60 

Some investors are getting spooked by all the talk of circular financing in the artificial intelligence (AI) build-out, with the issue even being mentioned by Nvidia on its recent earnings call.

Nvidia has been investing significant capital from its balance sheet into AI labs and cloud computing providers -- aka neoclouds -- that are turning around and using that same money to buy Nvidia processors to equip their data centers.

Two companies taking part in such circular financing arrangements are CoreWeave (CRWV -1.12%) and Nebius Group (NBIS +2.28%), and their share prices are now down 41% and 30%, respectively, from their all-time highs.

With their share prices falling, should investors be worried about fragile financing for these neoclouds and the AI boom? Here's what the numbers say.

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CoreWeave's Nvidia backstop CoreWeave was originally a cryptocurrency miner, but it pivoted to an AI cloud computing model to use its idle Nvidia GPUs. It turns out that it was sitting on a gold mine.

Through investments in more data centers powered by Nvidia chips, CoreWeave quickly scaled its revenue from nearly nothing to over $2.5 billion last quarter, with a run rate of $10 billion a year. To finance the necessary build-out, however, it raised capital in numerous ways and now has $35 billion in debt on its balance sheet.

Nvidia is helping CoreWeave in two ways. First, it directly invested in the neocloud, which is turning around and using the funds it received to buy Nvidia chips for its new data centers. Second, Nvidia is providing a backstop for CoreWeave: If the neocloud doesn't find clients to lease all of the cloud computing capacity it's building, Nvidia will buy that capacity itself (through April 13, 2032).

CoreWeave will need to keep riding its reputation as a reliable cloud provider, as its overall capital expenditures are slated to land between $35 billion and $39 billion in 2026. It is investing well ahead of its current revenue generation, banking heavily on future AI cloud spending.

Image source: Getty Images.

Nebius's sneaky growth Nebius Group operates on a smaller scale than CoreWeave, but it's growing much faster. This business was spun out of the old Russian internet company Yandex, which was off-limits to Western investors because of sanctions. Now based in the Netherlands, the company is trying to build a massive neocloud operation.

Growth has been sound so far, up 454% year over year to $582 million last quarter alone. The company has been engaging in circular financing deals similar to CoreWeave's, as well as booking large commitments from hyperscalers like Microsoft and Meta Platforms. There is strong momentum in Nebius' business today, and it plans to continue investing in additional data centers to fulfill customer orders.

However, this puts it in the same category as CoreWeave, needing to invest heavily up front in capacity before it can earn revenue from those investments. It has spent $8 billion on capital expenditures through the first six months of this year alone, and it plans to spend more than $20 billion for all of 2026. To help finance this spending, it just raised $5.75 billion through an offering of convertible notes.

A tale as old as time The boom in AI spending may look like a blessing today, but these neoclouds are setting themselves up for disappointment in the long term. Circular financing, also known as vendor financing, has been a popular strategy during many asset booms over the years. For example, during the dot-com bubble, telecommunications equipment providers invested heavily in debt based on the belief that demand for fiber optic capacity would grow at an exponential pace forever.

Turns out, it didn't. Something similar could happen to neoclouds in the years ahead, despite how promising the growth path for compute demand looks today. CoreWeave itself boasts $104 billion in revenue commitments as of the end of last quarter, but that number does not tell investors how binding these commitments are. If the growth in AI demand from end consumers and enterprises slows down, it is possible that CoreWeave's customers will back out of their commitments, leaving it high and dry.

The businesses may survive better than those in the dot-com bubble because Nvidia has a rock-solid balance sheet with plenty of capacity to backstop both of these businesses (and others) in a liquidity pinch. That does not necessarily make their stocks a buy, but it makes their bankruptcies less likely in a bear scenario.

Kraken’s official announcement states that Kraken Derivatives will delist 77 perpetual contracts at 12:00 UTC on October 1, covering assets including 2Z, AEVO, AIXBT, AKT, ANKR, ARKM, AR, BLUR, CELO, ENJ, GMT, GMX, IOTA, MINA, NEO, THETA, VET, ZIL, ZRX, and others. Once trading on these contracts is halted, they will be settled and removed from the platform. Separately, Kraken will delist perpetual contracts for SUN, MTL, IOST, and XVS on September 3, and COTI perpetual contracts on September 7.

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Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

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Considering buying CPB stock? Here’s what analysts think:

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A hot summer month seems like the ideal time for a company that specializes in coolers and large drink tumblers. Alas, that sure wasn't the case for Yeti Holdings (YETI +3.21%), which saw its stock price melt by more than 16% over the course of the month. Much of this had to do with the company's second-quarter results, which weren't as impressive as they first seemed.

A beat and a raise For the quarter, Yeti managed to increase its net sales by 9% year over year to almost $484 million. The main driver of this growth was the company's coolers and equipment business, which posted a 16% increase to more than $232 million. Drinkware sales only inched up by 2% to slightly over $241 million. The "other" category was 13% higher at almost $11 million.

Image source: Getty Images.

The company reported that its international sales rose by a sturdy 19% to just under $93 million. Coincidentally, that comprised 19% of the total for the quarter.

On the bottom line, Yeti's net income not under generally accepted accounting principles (non-GAAP, or adjusted) went in the opposite direction. It fell by 8% to just under $51 million, or $0.67 per share.

There's an asterisk next to that figure, however, as the company received refunds for tariffs incurred by the federal government last year (which were later struck down in a series of court decisions). These resulted in a net gain of $0.03 per share. I should add that the per-share number was aided by aggressive stock buybacks during the quarter.

Regardless, Yeti scored a convincing beat on earnings, as analysts were collectively modeling only $0.55 per share for adjusted net income. The company broadly met pundit projections for revenue.

In its earnings release, Yeti quoted Matt Reintjes as saying that "Our results demonstrate broad-based execution across categories, channels, and geographies, powered by the Yeti brand and the expanding reach of our product portfolio."

Reintjes and his management team also felt compelled to raise full-year earnings guidance to $2.94 to $3 per share in adjusted net profit. That's up substantially from the previous range of $2.83 to $2.89. However, they maintained their forecast for net sales, which are expected to be 7% to 8% higher than the 2025 tally.

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Current Price

$

41.45

Ignoring the bullish new analyst takes After the earnings report, several analysts adjusted their takes on Yeti stock. For the most part, these changes were positive, mainly in the form of price target raises.

I think there are a few culprits in the post-earnings rout of the company's shares. One is top-line growth, which is notably below some of the double-digit increases Yeti posted during the large-drink tumbler craze that peaked in 2024.

Another is profitability, since no one likes to see a decline. Also, the quarter's bottom line was affected by tariffs, and the per-share figure was boosted by buybacks. Finally, both selling, general and administrative expenses and long-term debt rose more steeply than net sales, by 17% and 41%, respectively.

Although Yeti is still well profitable and its sales were heading north, I'm not seeing great opportunities for meaningful growth now that the aforementioned tumbler trend is well in the past. I don't find this niche consumer goods stock particularly compelling these days.

Expanded offering also adds diversified index strategies to provide greater flexibility across market cycles

NEW YORK--(BUSINESS WIRE)--Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced enhancements to its variable annuity portfolio, Structured Capital Strategies®(SCS), which includes the first bitcoin-linked index investment option available within a registered index-linked annuity.

“Equitable pioneered the first index-linked annuity in 2010, and continues to lead the way as client needs and investment preferences change,” said Steve Scanlon, Equitable’s Head of Individual Retirement. “We know that investors are interested in cryptocurrency and its growth potential, though they remain cautious about its volatility. This new option means clients can gain bitcoin-related exposure with a defined level of downside protection.”

The new SCS Premier option is linked to the performance of the iShares Bitcoin Trust ETF (NASDAQ: IBIT), expanding the solution’s lineup beyond existing options tied to the S&P 500, Nasdaq-100, Russell 2000 and MSCI EAFE indices. It is the first annuity option linked exclusively to the performance of bitcoin without dynamically allocating to equities, cash or other assets. The one-year segment will offer 10%, 15%, 20% and 40% buffers, with allocations generally limited to 25% of the contract value.

Today’s enhancements also add diversified index strategies, a shorter segment duration and an option to capture positive returns during market declines with several new investment options that give clients more choice in how they pursue growth and manage investment risk. Highlights include:

Optimal Mix Segments – Optimal Mix segments provide clients with diversified exposure to multiple market indices and assign the greatest weights to the best-performing indices at the end of the segment. At segment maturity, the indices are ranked based on their performance during the segment term, and the segment rate of return is determined using a weighted average of those performances. A U.S. and a global version are available.

Dual Direction Downside Advantage segments – Building on the legacy of Equitable’s widely used Dual Direction Segment, clients can turn market declines into the potential for positive returns with Dual Direction Downside Advantage. If the selected index declines but remains within the applicable buffer, the option provides clients with a return equal to twice the absolute value of the decline, before the applicable contract fee and subject to the segment’s terms. If the benchmark declines beyond the segment buffer, the client absorbs losses beyond the protected amount.

Three-month standard segments – Clients will have more frequent opportunities to lock in performance and make allocation decisions as market conditions change with a new three-month duration for select segments.

About Equitable

Equitable, a principal franchise of Equitable Holdings, Inc. (NYSE: EQH), has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves more than 4 million clients across the country. Please visit equitable.com for more information.

Reference to the 1859 founding applies specifically and exclusively to Equitable Financial Life Insurance Company.

Structured Capital Strategies® Premier is a variable and index-linked deferred annuity contract with investment options that track indices up to a cap while providing levels of downside protection. Simply stated, an annuity is a contract between you and an insurance company that lets you pursue the accumulation of assets. You may then take payments or a lump-sum amount at a later date. Regarding partial downside protection, there is a risk of substantial loss of principal because the investor agrees to absorb all losses to the extent they exceed the protection provided. It is not possible to invest directly in an index. Annuities contain certain restrictions and limitations. For costs and complete details, contact a financial professional.

Variable annuities and index-linked annuities are sold by prospectus, which contains more complete information about the contract, including risks, charges, expenses and investment objectives. You should review the prospectus carefully before purchasing a variable or index-linked annuity or sending any money. Contact a financial professional for a copy of the current prospectus.

Certain features and benefits described herein may not be available in all jurisdictions. In addition, some distributors may eliminate and/or limit the availability of certain features or options, based on annuitant issue age or other criteria. Not all types of contracts, features and benefits are available in all jurisdictions and all markets. All contract and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the claims-paying ability of the issuing life insurance company.

The Structured Capital Strategies® Premier, Structured Capital Strategies® PLUS, and Structured Capital Strategies® Income registered index-linked annuities are issued by Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company with an admin. office in Charlotte, NC and by Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), depending on the particular contract and its distributor. The obligations of Equitable Financial and Equitable America are backed solely by their own claims-paying abilities. GE-9087493.1(08/26) (exp.08/36)

SummaryHowmet Aerospace is a buy after an overdone selloff triggered by SpaceX/Tesla's turbine blade plans, which pose no near-term threat.HWM's core moat is protected by technical expertise, multi-year backlogs, and sole-supplier long-term agreements across commercial and defense aerospace.Financial strength is evident: 24% YoY revenue growth, 37.7% EBITDA margin, $838M YTD free cash flow, and ongoing share repurchases and dividend increases.Risks include potential new entrants and aerospace partner disruptions, but capacity expansions and strong demand underpin a compelling forward earnings profile.Alllex/iStock via Getty Images

Market Overreaction Creates An Opportunity Elon Musk has announced that SpaceX and Tesla will begin to enter natural gas turbine blade production in its Bastrop, Texas facility. Howmet Aerospace's (HWM) shares have sold off sharply

952 Followers

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

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

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GE Appliances is redesigning its manufacturing footprint bringing high-output dryer production to Louisville, Kentucky.

LOUISVILLE, Ky.--(BUSINESS WIRE)--GE Appliances, a Haier company, and the IUE-CWA are announcing a major transformation of Appliance Park with a $1 billion investment by the company to expand high-output production of laundry products and reinforce its long-term commitment to manufacturing in Kentucky and the U.S. With new and expanded production across Buildings 1, 2 and 5, the investment will establish Appliance Park as America’s largest home appliance manufacturing site, reflecting its scale across production output, employment and campus footprint.

As part of the plans, GE Appliances will:

Invest more than $400 million to transform Building 5 into a high-output manufacturing operation for dryers, bringing production from Mexico to Kentucky. Invest approximately $112 million in Building 1 to add new equipment and redesign existing washer and dryer platforms. Continue its previously announced $490 million investment in Building 2 to produce frontload washers and Combo washer/dryers that begin production in 2027. "Investment in American manufacturing is critical to our economy and our communities," said IUE-CWA President Carl Kennebrew. "Our Union members are proud to manufacture American-made GE appliances in Louisville, and this new investment will ensure that our members keep delivering these high-quality products to American consumers for years to come."

“We’re making major investments to continue modernizing Appliance Park and bring more production to our global headquarters in Louisville,” said Kevin Nolan, president and CEO of GE Appliances. “Bringing our laundry and dishwasher manufacturing together gives us a real competitive advantage, with new synergies across our cleaning products and closer connections between the people who design, engineer, and build them. That combination allows us to move faster, accelerate innovation and continue strengthening our industry-leading U.S. manufacturing business.”

The plans are designed to position Appliance Park for long-term growth by concentrating investment in high-output dryer production that can be produced competitively in the United States. Together, the $1 billion investments in new products and modernized facilities will help secure the 4,700 production jobs at Appliance Park once the new facility is fully implemented.

To prepare Building 5 for its new manufacturing mission, refrigeration production would conclude in Louisville in early 2027 and new dryer production would begin in late 2027.

GE Appliances will keep employees on payroll throughout the transition, with no layoffs associated with the retooling of Building 5. An approximately 9- to 12-month transformation is expected before dryer production begins. Employees will have opportunities to move into new and expanded manufacturing roles as production ramps up across Appliance Park in 2027. The transformation builds on GE Appliances' continued investment in Appliance Park and reinforces Louisville's role as the company's global headquarters and the largest appliance manufacturing site in the United States. As America’s Most Invested Appliance Company, GE Appliances has committed an industry-leading $6.5 billion to U.S. manufacturing since 2016, which includes more than $3.5 billion already invested in its U.S. operations and another $3 billion announced in 2025 for the next five years.

GE Appliances will continue making millions of refrigerators in the United States each year at our Decatur, Alabama plant, the largest refrigeration manufacturing operation in the U.S., and in Selmer, Tennessee.

About GE Appliances, a Haier company

At GE Appliances, a Haier company, we come together to make good things, for life. Headquartered in Louisville, Kentucky, we are a leading U.S. manufacturer of home appliances with 15,500 team members nationwide. Our products can be found in half of all U.S. homes, and we’re proud to be rated America’s #1 Appliance Company.¹ We manufacture and sell products under the Monogram™, Café™, GE Profile™, GE®, Haier™ and Hotpoint™ brands. Our operations support 98,000 additional American jobs, and as America’s Most Invested Appliance Company, we’ve committed an industry-leading $6.5 billion to U.S. manufacturing since 2016 alone. We are deeply committed to the communities where we live and work, passionate about getting closer to our product users to understand their needs and driven by the belief that there’s always a better way.

To learn more about our company, brands, career opportunities and impact, visit geappliancesco.com or connect with us on LinkedIn.

Digital Assets: An infographic outlining GE Appliances’ manufacturing footprint in Kentucky and across the U.S., photos and b-roll footage related to this announcement are available for download and use here.

More News From GE Appliances

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NetApp, Inc. (NTAP) Q1 2027 Earnings Call September 2, 2026 5:30 PM EDT

Company Participants

Kris Newton - VP of Corporate Communications & Investor Relations
George Kurian - CEO & Director
Wissam Jabre - Executive VP & CFO

Conference Call Participants

Joseph Cardoso - JPMorgan Chase & Co, Research Division
Mehdi Hosseini - Susquehanna Financial Group, LLLP, Research Division
Amit Daryanani - Evercore ISI Institutional Equities, Research Division
Sreekrishnan Sankarnarayanan - TD Cowen, Research Division
Michael Cadiz - Citigroup Inc., Research Division
Erik Woodring - Morgan Stanley, Research Division
Paramveer Singh - Oppenheimer & Co. Inc., Research Division
Wamsi Mohan - BofA Securities, Research Division
Steven Fox - Fox Advisors LLC
Katherine Murphy - Goldman Sachs Group, Inc., Research Division
Timothy Long - Barclays Bank PLC, Research Division
W. Chiu - Raymond James & Associates, Inc., Research Division
David Vogt - UBS Investment Bank, Research Division

Presentation

Operator

Good day, and welcome to the NetApp First Quarter of Fiscal Year 2027 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Kris Newton, Vice President, Investor Relations. Please go ahead.

Kris Newton
VP of Corporate Communications & Investor Relations

Hi, everyone. Thanks for joining our Q1 FY '27 earnings call. With me today are our CEO, George Kurian; and CFO, Wissam Jabre. This call is being webcast live and will be available for replay on our website at netapp.com.

During today's call, we will make forward-looking statements and projections with respect to our financial outlook and future prospects, including, without limitation, our guidance for the second quarter and fiscal year 2027, our expectations regarding future revenue, profitability and shareholder returns, the expected benefits from our acquisitions and partnerships, and other growth initiatives and strategies. These statements are subject to various risks and uncertainties, which may cause our actual results to differ materially. For more information, please refer to the documents we file from

A unit of Thomson Reuters detected a cybersecurity incident in 11 U.S. states, the U.S. Virgin Islands and Canada on June 30 involving the company's C-Track case management platform, according to a ​notice from the company on Wednesday and a statement by the chief justices of ‌three Ontario courts, which use the platform for digital court record management.

A subsequent investigation by Thomson Reuters found that an unauthorized party obtained certain C-Track files in March, the company said on a website created to provide information about the ​incident. The company's investigation found some court records were "affected" and they included names and personal ​information, the website said.

A website set up by the West Publishing unit of Thomson ⁠Reuters to answer questions about the hack said it hit court systems in Alabama, Pennsylvania, Kentucky, ​Montana, Nevada, North Dakota, South Carolina, Tennessee, Ohio, New Hampshire, Wyoming and the U.S. Virgin Islands.

The statement from ​the chief justices of the Court of Appeal for Ontario, the Ontario Superior Court of Justice, and the Ontario Court of Justice said Thomson Reuters detected unauthorized activity in one of its cloud environments, and had taken steps to ​contain the activity, working with Ontario's Ministry of the Attorney General and the courts.

"We are advised that ​Thomson Reuters responded by taking steps to contain the activity, engaging external cybersecurity experts to advise and investigate, notifying law ‌enforcement, ⁠and securing the C-Track environment," the statement said.

Toronto-based Thomson Reuters confirmed that it took containment and security steps and that affected customers have been notified.

"There has been no operational disruption to C-Track as a result of this incident," a Thomson Reuters spokesperson said. "Our products and services remain fully operational and are safe ​to continue to use. Independent ​cybersecurity experts assisted in ⁠the investigation and validated the remediation measures implemented."

It is unclear what information may have been compromised, the chief justices' statement said. They said that individuals involved ​in court proceedings or mentioned in court documents could have had personal ​information relating to ⁠them involved in the incident.

Reuters could not independently determine who was responsible for the incident or specific details about the information that was compromised. Reuters News is a division of Thomson Reuters.

The chief justices' statement said Thomson ⁠Reuters ​Canada would respond to all inquiries and would set up a ​call center that will be active on September 4. The Thomson Reuters spokesperson confirmed the company was responding to inquiries in the ​U.S. and Canada and will have a contact center.

The Commodity Futures Trading Commission is seeking to dismiss CME’s lawsuit challenging the agency’s approval of Kalshi’s Bitcoin perpetual futures in May.

According to a Sept. 2 filing shared by Jake Chervinsky, CEO of Hyperliquid Policy Center, the CFTC called the suit “much ado about nothing,” arguing that CME lacks standing and has not presented a viable legal claim.

The agency said CME has not identified any restriction preventing it from offering the same type of perpetual futures, making the lawsuit an attempt to challenge the CFTC’s regulatory classification rather than an actual competitive injury.

The CFTC also defended its decision to classify the products as futures rather than swaps, arguing that “perpetual futures are futures.”

The agency said CME’s core objection is not that the agency lacks authority to approve the contracts, but that it disagrees with how the products were legally classified. It added that CME has failed to show any concrete harm from Kalshi’s contracts.

CME Group has sued the CFTC over the regulator’s decision to let Kalshi offer Bitcoin perpetual futures, setting up a major clash over whether prediction markets can expand into products traditionally offered by derivatives exchanges.

Perps contracts let traders maintain leveraged positions on crypto prices indefinitely because they have no expiration date. The CME argues that the CFTC’s approval violated the Commodity Exchange Act and Dodd-Frank by allowing Kalshi to offer a product that does not meet the traditional characteristics of a futures contract.

CME said the agency’s decision was issued without public comment or reasoned decision-making and has caused “textbook competitive injury” by allowing Kalshi to compete directly for customers in the crypto derivatives market. Kalshi has since brought numerous crypto perpetuals to market.

The CFTC has rejected the challenge, calling it “frivolous” and accusing CME of fighting the administration’s pro-innovation agenda, while Kalshi said CME is simply afraid of competition.

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

"The total value of crypto assets that have been stolen to date exceeds the yearly GDP of a medium-sized nation."

So reads the start of the Motivation section in the EIP-7906 draft proposal, which was created in early 2025, meaning that "GDP" has swelled from various exploits since then.

Of course, the problem of onchain theft isn't unique to the Ethereum ecosystem, but Ethereum does undoubtedly have a major thorn here, namely "de facto blind signing" of everything, as EIP-7906's authors put it, since today there's no way to easily vet and restrict what transactions will do once signed.

In other words, there's no network-level handle on outcomes, only on signed calldata. This means something like a wallet or a tx simulation UI can display wrong data, or miss hostile intentions, and Ethereum will still commit whatever was executed because a provided signature authorizes execution, and not a checked outcome.

This gap between intention and execution is exactly what EIP-7906, a.k.a. transaction assertions, is meant to solve. This standard's introduction will be pivotal, to the point that its arrival will mark a sort of "before" and "after" milestone in Ethereum UX.

Transactions assertions will be one of those features that we look back on and wonder how we used Ethereum without them. https://t.co/cUtPzeBCIq

— ً (@lightclients) September 1, 2026 It seems we won't have to wait very long, either. EIP-7906 is proposed for inclusion (PFI) in Ethereum's Hegotá upgrade and has already been demoed in a Hegotá devnet next to frames. The EIP isn't officially considered/scheduled for inclusion yet, and it may get pushed to Ethereum's following upgrade, but it's possible we'll see it live in 2027 at the earliest.

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That's all the general background here, but to understand how transaction assertions actually work, you have to know the basics of "frame transactions" per EIP-8141, which is already formally slated for Hegotá and which EIP-7906 is fundamentally built around.

As you can imagine from the name, frame transactions break transactions into frames, i.e. short, labeled steps with different jobs. One frame can validate a signature, another can let a sponsor pay your gas, with others you can make approvals, swaps, batches, etc.

EIP-8141: Frame Transaction

Add frame abstraction for transaction validation, execution, and gas payment

Ethereum Improvement Proposals

However, in its default structure, EIP-8141 doesn't have a baked-in outcomes check to make sure your list of frames only do what your wallet screen has indicated. Here then cue in transaction assertions, as EIP-7906, if pushed to mainnet, would add a frame mode for precisely this type of checking job.

The EIP's new proposed frame mode is specifically POST_TX, which would have to sit at the very end of your frames list. It'd run as a static call, so it could read but not write anything, and its three new opcodes, TXTRACE, TXDIFF, and EVENTDATACOPY, would only work inside it.

The neat thing is that by the time POST_TX runs, your real balance, storage, and event diff changes would already exist, and then your smart account would get a look at that data. If the results don't match with what's expected, the execution frames will revert. Accordingly, EIP-7906 can provide vetoes on onchain outcomes rather than mere (and potentially flawed) previews of them.

Under this paradigm, you'd be able to guarantee a swap will fire off as expected or dodge an approval drainer after trying to ape into an NFT mint that was discreetly nefarious, and so on. Everything that opcodes expose could get checked against your transactions' literal traces instead of simulations or calldata summaries that hostile frontends can fake.

To be sure, transaction assertions aren't a panacea for all of the Ethereum ecosystem's security problems, but it's safe to say that they can prevent plenty future onchain losses. We don't have to sign transactions and just hope for the best. We can authorize execution and then refuse to keep the results if something's gone wrong.

That's a powerful shift that will prove to be a big level up for Ethereum UX. For now, the main question that remains is the timeline. In one week, Ethereum client teams will submit their ranking preferences for further Hegotá inclusions, so we'll know more then on the community's appetite for transaction assertions coming sooner or later, like the upgrade after Hegotá.

Cardano founder Charles Hoskinson said the network must complete critical roadmap and governance milestones to unlock its next phase of growth.

Hoskinson made the comments while discussing the latest voting update for Cardano’s Constitutional Committee (CC). During his remarks, he took a moment to highlight the progress across the ecosystem, arguing that Cardano’s development looks more promising when viewed from a broader perspective.

In particular, Hoskinson highlighted the launch of RealFi and the growing potential of Bitcoin DeFi to bring substantial liquidity into the ecosystem. He suggested that RealFi could attract billions of dollars in total value locked (TVL) over the coming years. Meanwhile, he noted that Bitcoin DeFi through Pogun has already secured $600 million in soft commitments.

Cardano Must “Finish What We Started” Despite this progress, Hoskinson stressed that Cardano must now “finish what we started.” He identified several priorities that would shape the network’s next phase of growth.

First, he emphasized the need to complete the Leios scalability upgrade. He also called for the relevant hard fork to be activated so that Cardano can advance with its planned technological improvements.

Governance, meanwhile, remains another critical priority. According to Hoskinson, the ecosystem must complete the last mile of governance while strengthening its existing institutions.

Furthermore, he wants Cardano’s institutions to develop the ability to improve continuously and operate with greater independence. In his view, the ecosystem must execute its roadmap more effectively while establishing a budget process that improves from one year to the next.

Ultimately, Hoskinson believes stronger institutions and more effective governance can help Cardano sustain development without repeatedly encountering the same obstacles.

Hoskinson Says Cardano Is “In It to Win” Despite the challenges ahead, Hoskinson maintained an optimistic outlook on Cardano’s future. He stressed that the ecosystem is “not out of the game” and remains determined to compete at the highest level.

He has maintained this stance despite the market turbulence ADA has experienced this year. The cryptocurrency is down 40.71% year-to-date and has consequently fallen out of the top 10 by market cap.

Nevertheless, several of the major initiatives highlighted by Hoskinson remain in active development. Leios and RealFi are scheduled to launch later this year, potentially giving Cardano new avenues for scalability and liquidity growth.

Meanwhile, the Cardano community has approved the Constitutional Committee proposal, ensuring that the committee maintains more than five members. This allows it to continue voting on crucial network upgrades, including the constitutional update associated with Leios.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Netskope, Inc. (NTSK) Q2 2027 Earnings Call September 2, 2026 5:00 PM EDT

Company Participants

Michelle Spolver - Chief Communications & Investor Relations Officer
Sanjay Beri - Co-Founder, CEO & Chairman
Andrew Del Matto - Chief Financial Officer

Conference Call Participants

Simran Biswal - RBC Capital Markets, Research Division
Jonathan Ho - William Blair & Company L.L.C., Research Division
Richard Poland - Wells Fargo Securities, LLC, Research Division
Zachary Schneider - Robert W. Baird & Co. Incorporated, Research Division
Aidan Perry - Piper Sandler & Co., Research Division
Eshaan Shetty
Nolan Bruce Jenevein - Oppenheimer & Co. Inc., Research Division

Presentation

Operator

Thank you for standing by, and welcome to Netskope's Second Quarter Fiscal 2027 Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to Michelle Spolver, Chief Communications and Investor Relations Officer. Please go ahead.

Michelle Spolver
Chief Communications & Investor Relations Officer

Good afternoon, and thank you for joining us today. With me on the call are Netskope's CEO and Co-Founder, Sanjay Beri; and CFO, Andrew Del Matto. The press release announcing our financial results for the second quarter of fiscal 2027 was issued earlier today and is posted to our Investor Relations website at investors.Netskope.com, along with the supplemental presentation.

Before we begin, let me remind everyone that certain statements we make on today's call are forward-looking, including statements related to our guidance for the third quarter and full 2027 fiscal year, market opportunity, growth prospects, sales ramping, competitive position, impact of AI and demand for AI security.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated by these statements. Additionally, these statements apply only as of today, and we undertake no obligation to update them in the future. For a detailed description of risks and uncertainties, please refer to

TL;DR: USD/JPY has tumbled from 160.38 through 158, not because of actual intervention but because fear of a repeat is shaping trader psychology near 160 — a fear reinforced by rapidly repricing BoJ tightening expectations, setting up an asymmetric test for Friday’s NFP.

Not Intervention, but July Changed the Risk Calculus USD/JPY has fallen sharply from 160.38 yesterday, and the selloff extends through 158 today. But latest move bears little resemblance to confirmed intervention seen at end of July. That operation drove pair almost vertically from 163.97 to 155.22, a drop of roughly 8.75 Yen, or more than 5%, as Japan intervened with US participation. By comparison, latest decline has been much smaller, more orderly and spread over hours rather than minutes.

There is therefore little in price action itself to suggest authorities have stepped back into market. But July intervention still matters because it changed how traders behave when USD/JPY approaches 160. With pair again testing familiar territory ahead of another US payroll report, market is facing a pre-NFP repeat in positioning psychology, even without a repeat of official action.

That leaves an important distinction: intervention is not driving USD/JPY lower directly, but fear of intervention is shaping risk-reward around 160. Traders carrying short-Yen positions now have recent evidence that official action can produce a sudden multi-Yen reversal. That makes position reduction more likely before authorities actually intervene.

Intervention Fear Explains Timing; BoJ Repricing Explains Durability Intervention anxiety alone would make latest move vulnerable to reversal. What gives Yen strength a more durable foundation is rapid repricing of BoJ tightening path.

Markets are no longer simply debating whether BoJ raises rates at September 17–18 meeting. OIS pricing points to roughly 96.5bp of cumulative tightening over the coming 12 months, close to four quarter-point hikes. September itself is priced at around an 84% probability, but more important development is how much additional tightening is being built beyond that meeting.

BoJ board member Hajime Takata reinforced that shift in his Wednesday speech in Sapporo. He described “2026 [as] a regime change” in monetary policy, argued rate hikes should become “nimble and data-dependent,” and said BoJ should not be “bound by particular intervals or ranges anticipated in the markets.”

That directly challenges old assumption of roughly semiannual tightening. If BoJ is moving from two carefully spaced hikes a year toward a genuinely data-dependent cycle, Yen becomes less attractive as a cheap and predictable funding currency.

Washington Is Reinforcing, Not Creating, the BoJ Story US pressure adds another layer. Treasury Secretary Scott Bessent has repeatedly encouraged Japan to normalize policy, while reports following his G20 meetings with Japanese officials said he argued that Japan’s next step should be higher rates.

That matters because Washington and Tokyo increasingly appear aligned on the direction of adjustment: less Yen weakness and tighter Japanese monetary conditions. It also reduces market confidence that renewed USD/JPY gains well through 160 would be passively tolerated.

Still, BoJ tightening case should not be reduced to US pressure. Takata’s argument is domestic: Japan’s inflation regime has changed, price stability target is close to being achieved, and policy should increasingly guard against an inflation overshoot. Bessent amplifies that backdrop; he does not create it.

The distinction reinforces central thesis. Intervention fear explains why traders are nervous near 160. BoJ repricing explains why buying back Yen can continue even without intervention.

ActionForex’s Technical View on USD/JPY Technical picture has deteriorated quickly. USD/JPY’s decline from 160.38 has now extended through 157.99 support, confirming that the rebound from 155.22 has completed as a three-wave corrective move. Immediate focus is now on 61.8% retracement of 155.22 to 160.38 at 157.19.

Firm break of 157.19 will pave the way toward the 154.76–155.01 medium-term support zone, which includes the 38.2% retracement of 139.87 to 163.97 at 154.76. The recent 155.22 intervention low sits just above that area.

Momentum is already stretched. 4H RSI has dropped into deeply oversold territory around low-20s, while MACD has turned sharply lower. That creates room for a near-term bounce, but an oversold rebound would not repair technical damage by itself. On upside, 159.00 is first minor resistance. A break there would stabilize near-term picture and reopen 160. But that is where technical recovery runs into a much less measurable obstacle: intervention risk.

NFP Makes the Setup Asymmetric Friday’s US payroll report is therefore unusually important.

Current Fed pricing still favors another September hike, but softer ADP employment has reminded markets that labor data remain one of clearest ways to challenge hawkish path. A weak NFP would attack USD/JPY through US side of rate differential: Treasury yields could fall, Fed hike expectations could ease and the break of 157.99 could extend toward 157.19.

That creates a relatively clean downside sequence: 157.19 → 154.76–155.22 support zone

There is no equivalent policy barrier preventing Yen from strengthening through those levels.

A strong NFP creates a different setup. It would likely support US yields, and allow USD/JPY to recover through 159.00 toward 160. But a move materially above 160 must overcome two additional hurdles that did not exist in same form earlier this year: fresh intervention memory and a much more aggressive BoJ tightening path.

That does not make 160 an official ceiling. It does mean upside becomes progressively harder to price with conviction.

Strong Payrolls Need to Do More Than Save September This is where NFP asymmetry becomes clearest.

A merely solid jobs report may be enough to preserve September Fed hike expectations. But that may only produce another test of 160.

For USD/JPY to establish a more durable move higher, NFP probably needs to push markets toward a more aggressive Fed path beyond September, not just validate one hike already substantially priced. In other words, US rates would need to become more hawkish faster than Japanese rates are being repriced.

By contrast, a weak NFP does not face that higher threshold. It would simultaneously reduce US rate support, reinforce Fed-BoJ convergence and encourage more short-Yen covering.

That leaves USD/JPY with an asymmetric pre-NFP setup. Weak jobs have a relatively unobstructed route toward 155 levels. Strong jobs can drive a rebound, but a convincing break above 160 must overcome both intervention risk and a BoJ tightening cycle that markets increasingly expect to accelerate.

Key Takeaways USD/JPY’s fall from 160.38 toward 158 is far more orderly than July’s confirmed intervention, suggesting fear of a repeat, not actual official action, is driving the move. OIS pricing points to roughly 96.5bp of cumulative BoJ tightening over the next 12 months, with September priced at an 84% probability but more tightening expected beyond it. BoJ’s Takata described 2026 as a “regime change” toward nimble, data-dependent hikes, directly challenging the old assumption of roughly semiannual BoJ moves. A weak NFP has a relatively clear path toward the 154.76-155.22 support zone, while a strong NFP faces two extra hurdles above 160: intervention memory and accelerating BoJ tightening. 157.19 is the key near-term level; a break opens the 154.76-155.01 zone, while 159.00 is the first resistance on any oversold bounce.

ActionForex

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.

Broadcom Inc. (AVGO) Q3 2026 Earnings Call September 2, 2026 5:00 PM EDT

Company Participants

Ji Yoo - Director of Investor Relations
Hock Tan - President, CEO & Executive Director
Amie O'Toole - Chief Financial Officer
Charlie Kawwas - President of Semiconductor Solutions

Conference Call Participants

Joseph Moore - Morgan Stanley, Research Division
Blayne Curtis - Jefferies LLC, Research Division
Harlan Sur - JPMorgan Chase & Co, Research Division
Stacy Rasgon - Bernstein Institutional Services LLC, Research Division
Jack Adair - Melius Research LLC
Vivek Arya - BofA Securities, Research Division
Thomas O'Malley - Barclays Bank PLC, Research Division
William Stein - Truist Securities, Inc., Research Division
Joshua Buchalter - TD Cowen, Research Division
James Schneider - Goldman Sachs Group, Inc., Research Division
Vijay Rakesh - Mizuho Securities USA LLC, Research Division

Presentation

Operator

Welcome to Broadcom Inc.'s Third Quarter Fiscal Year 2026 Financial Results Conference Call. At this time, for opening remarks and introductions, I would like to turn the call over to Ji Yoo, Head of Investor Relations of Broadcom Inc. Please go ahead.

Ji Yoo
Director of Investor Relations

Thank you, Cheri, and good afternoon, everyone. Joining me on today's call are Hock Tan, President and CEO; Amie Thuener, Chief Financial Officer; and Charlie Kawwas, President, Semiconductor Solutions Group. Broadcom distributed a press release and financial tables after the market closed, describing our financial performance for the third quarter fiscal year 2026. If you did not receive a copy, you may obtain the information from the Investors section of Broadcom's website at broadcom.com. This conference call is being webcast live, and an audio replay of the call can be accessed for 1 year through the Investors section of Broadcom's website.

During the prepared comments, Hock and Amie will be providing details of our third quarter fiscal year 2026 results, guidance for our fourth quarter of fiscal year 2026 as well

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AUD/USD

Sell AUD/USD. Higher odds of both RBA and Fed hikes push the market toward tighter USD policy and less room for AUD to rally; strong Aussie data is already “priced,” while the article flags elevated inflation and renewed oil/energy pressure that can keep both central banks hawkish. Technicals also point to a bearish reversal (rising wedge convergence, PPO bearish crossover, RSI rolling over). Target 0.700 support.

Key Risk: A sharp risk-off move that weakens the USD (or a surprise dovish Fed/RBA shift) that drives AUD/USD back above 0.7207.

Brent-linked AUD

Sell AUD exposure via AUD/JPY (or AUD futures). The news ties the hawkish rate repricing to higher oil after US-Iran activity; that supports global growth but also keeps inflation sticky, which tends to keep JPY relatively supported versus high-beta AUD when rates are uncertain. With AUD/USD set up to break lower, AUD/JPY should follow on the same rate-and-risk repricing.

Key Risk: Oil spikes further and triggers a broad commodity/risk rally that lifts AUD/JPY despite the wedge/oscillator bearish setup.

The Australian dollar held firm today, September 3rd, as investors adjusted their RBA and Federal Reserve expectations for the year. The AUD/USD pair was trading at 0.7165, a few points below the August high of 0.7207. 

Traders are bracing for interest rate hikes from the Federal Reserve and the Reserve Bank of Australia (RBA) happening as soon as this month.

Polymarket gives the odds of RBA’s rate hike happening in September rose to 67%. These odds jumped after the US and Iran resumed their kinetic activity, which led to higher oil prices. 

Australia has also published strong macro numbers this week. An S&P Global report showed that the services PMI came in at 53.2 in August, higher than the expected 52.9. A PMI reading of 50 and above is usually a sign that a sector is growing. The composite PMI came in at 52.7, also higher than the expected 52.50.

Another report released on Wednesday showed that the Australian economy expanded by 2.1% in the second quarter, higher than the expected 1.8%. It grew by 0.4% in Q2 after growing by 0.3% in Q1 on a QoQ basis. 

This growth happened even as the Reserve Bank of Australia (RBA) became the most hawkish central banks this year. It has already delivered three rate hikes this year, with officials leaving the door open for more hikes.

A key concern is that Australia’s inflation has remained at an elevated level in the past few months. This trend will likely continue now that the US and Iran have restarted their kinetic activity, leading to higher energy prices. Brent, the global benchmark, rose to $95.68, while the West Texas Intermediate (WTI) rose to $91.

The same situation is happening in the US, where odds that the Fed will hike rates this month have jumped to 55% on Polymarket. These odds soared after Kevin Warsh delivered a highly hawkish statement at the Jackson Hole Symposium.

In it, he hinted that the bank was concerned about the state of inflation, which has remained above the 2% target in the past five years.

Focus now shifts to the upcoming US nonfarm payrolls (NFP) report that will provide color on the labor market. Economists expect the data to show that the economy created over 80k jobs in August this year.

AUDUSD chart | Source: TradingView

The daily chart shows that the AUD/USD pair may be on the verge of a bearish reversal in the coming days. For one, it has formed a rising wedge pattern whose two lines are about to converge. 

Also, the two lines of the Percentage Price Oscillator (PPO) have made a bearish crossover, while the Relative Strength Index is pointing downwards.

Therefore, the most likely scenario is where the AUD/USD pair falls, potentially to the key support of 0.700.

September 2026 brings another significant round of token unlocks across the Solana ecosystem, with more than a dozen projects scheduled to release additional supply. The month's largest events include $TRUMP, $PUMP, $CARDS, and $YZY, while several other tokens continue predictable linear vesting schedules.

Here is a breakdown of the most notable Solana ecosystem token unlocks scheduled for September 2026.

$TRUMP The Official Trump token will release 28.271 million $TRUMP through linear vesting during September, valued at approximately $60.25 million. The unlock represents 10.35% of the circulating supply and 2.71% of the total supply.

This makes $TRUMP the month's largest unlock by dollar value. The token remains closely linked to the broader crypto business interests of U.S. President Donald Trump, adding another layer of market attention around the supply event.

$PUMP Pump.fun will unlock 6.875 billion $PUMP through linear vesting in September, valued at approximately $28.8 million. The release represents 1.73% of circulating supply and 0.82% of total supply.

September marks the third month of the project's recurring monthly distributions following the expiration of its original 12-month cliff in July.

$CARDS Collector Crypt will unlock 59.26 million $CARDS on September 29, valued at approximately $10.16 million. The release represents 6.35% of the circulating supply and 2.99% of the total supply.

The unlock follows Collector Crypt's confirmation of a major token buyback and burn. Last week, the team confirmed that it had accumulated a total of 22.49 million $CARDS, equivalent to around 5.4% of circulating supply, and subsequently burned the entire amount.

Collector Crypt also crossed $91 million in net revenue in August, less than 3 months after reaching $1 billion in total platform volume. Meanwhile, the $CARDS token turned 1 year old on August 29.

To mark those milestones, Collector Crypt plans to bring back its Gacha Games throughout September. The campaign will feature challenges, competitions, rewards, and other activities across the platform.

$GRASS Grass will unlock 17.13 million $GRASS across September 27, September 28, and ongoing daily vesting. The release carries an estimated value of $7.24 million and represents 2.53% of the circulating supply and 1.71% of the total supply.

The token enters September after spot trading for $GRASS launched on Coinbase on August 26. The new trading venue gives the token broader market access as Grass continues developing its DePIN network and community ecosystem.

$KMNO Kamino will unlock 229.17 million $KMNO on September 30, valued at approximately $5.51 million. The release represents 4.21% of the circulating supply and 2.29% of the total supply.

$KMNO’s unlock schedule produces a steady monthly unlock of approximately 229.16 million $KMNO, excluding other emissions such as community initiatives.

More than 8 billion $KMNO has already been unlocked, representing over 80% of the token's total supply. September's release therefore continues an established distribution pattern.

$CLOUD Sanctum will unlock 10.45 million $CLOUD through linear vesting during September, valued at approximately $207,600. The release represents 1.71% of circulating supply and 1.04% of total supply.

However, the token faces a potentially much larger supply change beyond the scheduled unlock. Sanctum, Solana's largest protocol by DeFi TVL, has proposed burning 259 million $CLOUD tokens. The proposed burn would reduce total supply by roughly 25%, from 1 billion to 741 million tokens.

Sanctum also plans to rename the token ticker from $CLOUD to $SANC. The proposal would not change the token address or its underlying tokenomics.

What to Watch September's unlock schedule centers on several sizeable supply events, with $TRUMP leading the month at approximately $60.25 million, followed by $PUMP at $28.8 million and $CARDS at $10.16 million.

Meanwhile, $GRASS enters the month after gaining Coinbase spot trading access. Sanctum may also introduce one of the month's most notable supply changes if its proposal to burn 259 million $CLOUD receives approval, potentially reducing total supply by roughly 25% before the planned transition to the $SANC ticker.

As always, token unlocks do not automatically determine price performance but provide only one part of the broader market picture. However, tracking the size of each release, its impact on circulating supply, and developments around each project can help investors better understand changing supply dynamics across the Solana ecosystem.

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Galaxy Digital Head of Research Alex Thorn stated that attackers behind the Coldcard Wave 3 recently transferred stolen funds for the first time, converting a portion of the assets to ETH via cross-chain decentralized exchange THORChain. This marks the first instance of funds from the Wave 1, Wave 2, or Wave 3 attacks being moved from the attackers’ initial wallet addresses to other on-chain addresses. Currently, approximately 90% of the stolen funds from Wave 3 remain untransferred. On-chain activity indicates the attackers encountered apparent issues when conducting conversions via THORChain, with some transactions being repeatedly refunded, though they continue to attempt converting the remaining funds.

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The Crypto Fear & Greed Index has risen to 65, with the market remaining in "greed" territory.

According to data from Alternative, today’s Crypto Fear & Greed Index dropped to 65, up from 63 yesterday, with market sentiment remaining in the "Greed" territory. Note: The index ranges from 0 to 100, and its components include: volatility (25%), trading volume (25%), social media buzz (15%), market surveys (15%), Bitcoin’s market dominance (10%), and Google Trends analysis (10%).

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According to on-chain analyst Ai Yi (@ai_9684xtpa), crypto KOL XXAntiWar, who chased the rally during the bull market, has transferred 17.57 million tokens to 7 addresses via multiple intermediaries in recent days, and is currently still in unrealized loss. Thus, while Fomo shows XXAntiWar has liquidated all positions, this is actually because new holding addresses have not been recorded.

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An institution transferred 39,500 ETH worth approximately $95 million to a CEX.

According to Yuqing Monitoring, an institutional entity transferred 39,500 ETH (valued at approximately $95 million) to multiple CEXs over the past day. Over the past four days, its total transfers to CEXs have reached 142,800 ETH (worth around $345 million), while it still holds 29,735 ETH (approximately $70.9 million).

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South Korea’s foreign exchange reserves posted a record increase of $14.33 billion in August.

South Korea’s foreign exchange reserves rose by $14.33 billion in August, marking the largest single-month increase in history, driven mainly by a sharp rise in commercial banks’ foreign currency deposits at the Bank of Korea (BOK). The BOK said in a Thursday statement that as of the end of August, the country’s foreign exchange reserves climbed to $442.28 billion from $427.95 billion at the end of July. The central bank added that August’s reserve growth stemmed primarily from a surge in foreign currency deposits held by financial institutions, while a weaker U.S. dollar against other currencies also boosted investment income and valuation gains on overseas assets denominated in foreign currencies. The improved reserves have strengthened South Korea’s financial buffer, as the won weakened several times in the first half of the year, drawing market attention to the country’s external financing conditions. Earlier this year, the won fell to its lowest level since 2009, prompting South Korean authorities to repeatedly warn against excessive exchange rate volatility and seek to curb capital outflows driven by massive retail investor investments in overseas assets.

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Berkshire Hathaway plans to hold stakes in Japan's five major trading houses for the long term, with related stocks rising collectively.

Japanese trading house stocks rose on Thursday after Greg Abel, CEO of Berkshire Hathaway, said the firm plans to keep its stakes in these trading houses for decades to come. The trading house sector was among the top gainers in the Topix index on Thursday. Mitsubishi Corp. jumped as much as 4.5%, hitting its highest level since May; Sumitomo Corp., Mitsui & Co., Itochu Corp., and Marubeni all rose more than 2.5%. Berkshire currently holds roughly a 10% stake in each of the five trading houses. Abel, who took over as CEO from Warren Buffett in January this year, told CNBC in an interview on Wednesday that Berkshire’s holdings in the Japanese trading houses are "long-term investments" and the company intends to hold them for decades. Since Berkshire disclosed its stakes in 2020, the share prices of these Japanese trading houses have benefited from their association with Buffett. A market analyst at Tokai Tokyo Research Institute noted that Abel’s renewed show of confidence "may rekindle investors’ interest in buying trading house stocks."

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Ansem: Robinhood’s Stock Price Bottoming Out and Consolidating, Expected to Hit New High in Q4

Crypto KOL Ansem wrote in a post that traditional finance (TradFi) firms consistently lag behind when integrating new crypto operations, as their suited executives often take too long to access relevant data. He believes Robinhood (HOOD) is a strong investment pick, noting its stock has been consolidating from the bottom, while the company is adding a key new revenue stream through its Layer 2 blockchain business. Robinhood’s stock is projected to hit a new all-time high in the fourth quarter, rising 50% from its current level.

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Tokenization has proved that financial assets can move onto shared ledgers, but it has also exposed the harder problem. A regulated asset needs more than a token contract. It needs enforceable rules governing ownership, transfers, issuance, redemption, administration, custody, and emergency action. Those rules must remain attached to the asset throughout its lifecycle and apply every time it changes hands.

Most issuers today still assemble those functions across custom smart contracts, compliance providers, custodians, internal databases, and manual workflows. Every new asset becomes a bespoke technical project, while even routine actions such as changing an administrative role or freezing a compromised address can require engineering support. Market infrastructure comes later, if it comes at all.

Injective Mint changes that model by bringing the entire issuance process into one platform. It gives institutions a single interface to define an asset, encode its operating rules, assign authority, and issue it directly on Injective. No custom contract or command line is required, enabling the institution to remain in control from initial issuance through the full life of the asset.

Through one workflow, issuers can configure approved holders, jurisdictional restrictions, issuance and redemption permissions, administrative roles, address freezes, and global pauses. These are not policies stored in a document or checked by a separate system after settlement. They are enforced directly by Injective, meaning the network rejects any transfer that falls outside the rules established by the issuer.

Mint also addresses what happens after an asset is created. Most tokenization platforms stop once the asset reaches a wallet, leaving issuers to find liquidity and assemble the rest of the financial stack themselves. Assets issued through Injective Mint enter a network already built for trading, lending, derivatives, collateral, and other financial applications, creating a direct path from issuance to real onchain utility.

The opportunity extends across some of the largest asset classes in the world. Tokenized real estate alone is projected to reach $4 trillion by 2035, while treasuries, private credit, funds, commodities, stablecoins, deposits, and other financial products expand the addressable market considerably further. Capturing that opportunity will require infrastructure that can do more than create digital representations of assets. It must support how those assets are controlled, settled, administered, and used.

Injective is already proving that this infrastructure can operate at scale. The network has surpassed $6.8 billion in settled real-world asset volume and $1.1 billion in native asset issuance. Injective Institutional Services is now registered with the SEC as a transfer agent, while POSCO International and LG CNS have selected Injective for a live trade-receivables tokenization pilot.

Injective Mint is now live in private beta, bringing these capabilities together through a platform designed to make institutional-grade issuance accessible to institutions and everyday users alike. Institutions define the asset, establish its operating rules, and retain authority over it. Injective provides the infrastructure required to issue, administer, settle, and put that asset to work onchain.

This is how real-world assets move beyond isolated pilots and become functioning financial products. This is the foundation Injective Mint was built to provide as we accelerate real world asset issuance for the new age of onchain finance.

01. How We Got HereCreating a token is easy. Operating one as a financial product is not.

A treasury product may limit ownership to verified investors in approved jurisdictions. A stablecoin issuer needs separate authority for issuance and redemption. A fund administrator may need to freeze one address without stopping every holder. A security needs an accurate ownership record that stays aligned with transfers, distributions, and voting rights.

Legacy tokenization stacks solve these requirements through layers of contracts, scripts, databases, service providers, and manual reconciliation. Each additional system creates another handoff. Every handoff adds cost, time, and operational risk.

Injective took a different route. The network built issuance and permission controls at the protocol level. Mint packages those controls into a unified product for institutional teams.

Mint turns those protocol controls into a unified platform that institutional teams can operate directly. Compliance teams can translate decisions about investor eligibility, jurisdictions, issuance, redemption, and emergency action into onchain configurations through a guided interface. Issuing an asset with those controls no longer requires a software engineer to deploy custom contracts or update permissions by hand. The institution defines the policy. Injective Mint encodes it onchain.

02. Injective Mint in One ViewInjective Mint is an issuance and asset management platform for institutional-grade financial products.

An issuer starts by defining an equity, exchange traded fund, bond, commodity, foreign exchange product, stablecoin, fund, or another instrument.

The issuer is then equipped with a powerful platform that simplifies tokenization for the first time in a manner that is as simple as filing out information in a form. In essence the issuer is able to customize the following:

Asset identity sets the name, ticker, type, supply, and issuing entity.Jurisdiction settings define where the asset can circulate.Custody settings identify providers such as Fireblocks or BitGo.Holder rules determine which addresses can receive and own the asset.Administrative roles separate issuance, redemption, compliance, and asset management authority.Emergency controls let authorized parties freeze an address or pause activity across the asset.Once the issuer confirms the configuration, Injective writes the asset and its rules to the network onchain. As soon as the tokenization process is completed onchain, the RWA can be viewed on InjScan, where its supply, transfers, holders, and administrative actions can be verified.

This is more than a form placed in front of a token contract. Mint coordinates two native Injective backend modules that determine how the asset exists and how it may move.

03. From Definition to IssuanceThe TokenFactory module creates the asset as a native Injective denomination.

Each denomination is namespaced to its creator address. That structure removes naming collisions while preserving a clear administrative origin. The original creator receives authority to mint, burn, transfer, or change the asset administrator according to the configured model.

Mint then creates a permissions namespace for the asset. The namespace contains the actions, roles, managers, policy states, and optional contract logic that govern the asset throughout its lifecycle.

TokenFactory establishes the asset. The Permissions module determines who may act on it. Mint turns that sequence into one guided flow.

For the issuer, the process is straightforward: 

Enter the asset data. Select the permitted jurisdictions. Set supply. Identify the issuer and custodian. Assign the parties authorized to hold, send, receive, mint, burn, or administer the asset. Review the configuration. Confirm the transaction.The final state lives onchain. Mint removes bespoke contracts and manual scripts while retaining an institutional audit trail.

04. Compliance Lives in the AssetThe Injective RWA module uses role based access control at the chain level.

Every permissioned asset has its own namespace. When an address attempts to mint, receive, burn, or send the asset, Injective checks the relevant permissions before the transaction completes.

The model separates authority with precision.

Mint authority creates supply and directs it only to an address permitted to receive it.Receive authority determines which addresses may hold the asset.Send authority lets approved holders transfer only to approved recipients.Burn authority lets an address redeem or destroy its own balance under the asset rules.Super burn authority lets an approved administrator remove funds from another wallet when the operating model requires it.Role managers decide which addresses receive each role. Policy managers control whether specific actions remain enabled across the namespace. An issuer can pause sends, receipts, minting, or burning during a compliance or security event without rebuilding the asset.

A blacklist role can remove every permission from one address. Once the role is removed, the address regains its previous permissions. This gives an institution targeted control without forcing a global shutdown.

Injective also supports Wasm contract hooks when an issuer needs logic beyond the base permission model. A hook can inspect the sender, recipient, action, and amount when an asset is received. That creates room for product specific controls while keeping the core permission system native to the network.

These rules do not sit in a policy document waiting for an operator to check them after settlement. The chain applies them during execution. A transfer outside the configured rules fails.

05. Issuance Is Only the BeginningMany tokenization platforms stop when the asset reaches a wallet. That creates representation without a market.

Injective Mint issues assets into a financial network built for spot trading, derivatives, lending, collateral, and programmable applications. Subject to the rules set by the issuer and the integrations available for the product, a Mint asset can enter secondary markets, support a lending market, act as collateral, or anchor a new derivative.

Access is not automatic. Mint does not create liquidity by itself, and it does not replace the legal analysis required for a financial product. It gives issuers a direct route from creation to market infrastructure without moving the asset onto a separate chain or rebuilding the financial stack around it.

That route is already taking shape. Injective has supported institutional products including Laser Digital's Laser Carry Fund through Libre, BlackRock money market products, and Hamilton Lane's SCOPE Senior Credit Fund. POSCO International and LG CNS also selected Injective for a live trade receivables pilot tied to international commerce.

Funds, private markets, public equities, and enterprise receivables carry different structures. They can now operate across one network with shared settlement and permission infrastructure.

06. The Regulated Record LayerIssuance and transfer controls solve only part of the institutional problem. Securities also need an authoritative ownership record.

On August 19, Injective Institutional Services became registered with the U.S. Securities and Exchange Commission as a transfer agent. The registration is now effective.

A transfer agent maintains the official record of who owns a security. It processes ownership changes, reconciles securities issued against securities outstanding, and supports the records used for distributions, voting rights, and transfers.

Traditional tokenization often separates the onchain token from that official register. Institutions then reconcile two versions of ownership.

Injective now has a path to bring those records closer together. Injective Mint creates the asset and encodes its operating rules. Injective also adds an affiliated SEC-registered transfer agent function that can support official ownership and transfer records. Injective provides the settlement and market infrastructure beneath both.

The distinction remains exact. Issuing an asset through Mint does not automatically make it a security. It does not satisfy every regulatory requirement. Each issuer must configure the product around the laws and obligations that apply to it.

What changes is the available infrastructure. An issuer can build issuance, permissions, administration, recordkeeping, and settlement around one onchain system.

07. One System for the Asset LifecyclePrivate alpha gives participating institutions a direct way to test this model across real issuance workflows.

A bank can define a permissioned deposit token. An asset manager can issue a fund for approved investors. A fintech can launch a stablecoin with controlled supply. An enterprise can tokenize receivables with ownership and transfer rules.

Each product differs. The infrastructure stays consistent.

That consistency changes the economics of issuance. Institutions can reuse an operating model across assets instead of commissioning another custom stack for every launch. Compliance teams can map policy to named roles and actions. Administrators can change permissions without sending each update back to an engineering team. Investors and counterparties can verify activity onchain.

Institutions need issuance, permissions, ownership records, settlement, and market utility to work together.

Injective Mint brings issuance and onchain control into one interface. Injective Institutional Services adds the registered recordkeeping function. Injective connects the asset to a live financial network.

Define the asset, encode the rules, issue it into a market built for onchain finance.

This is how tokenization moves from isolated pilots to operating financial products. Injective will lead the way towards a new future where everything is tokenized onchain.

About InjectiveInjective is the first blockchain purpose-built for finance, enabling users, institutions, and AI agents to trade, tokenize, and transact at scale. Proudly made in America, Injective provides foundational blockchain infrastructure for global markets, with embedded financial primitives spanning stablecoins, real-world assets, payments, and programmable perpetuals through a unified onchain engine. Injective is used by Fortune 500 companies, banks, fintechs, and governments to power an open economy where any asset can be accessed anytime, from anywhere. Builders can deploy across multiple virtual machines like WASM and EVM, connect to native financial modules, and launch markets with deep liquidity from day one. INJ is the native token powering the rapidly growing Injective ecosystem and the new internet economy.

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